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Canadiens now valued at US$1.7 billion


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Canadiens now valued at US$1.7 billion, according to Sportico report

Toronto Maple Leafs are the most valuable club with an estimated value of $2.1 billion, followed by the New York Rangers at $2.01 billion.

Stu Cowan

 •  Montreal Gazette

Canadiens president and co-owner Geoff Molson speaks to reporters prior to the team's annual golf tournament in Laval, north of Montreal Monday Sept. 12, 2022. Photo by John Mahoney /Montreal Gazette files

Geoff Molson and his partners certainly made a smart business move in 2009 when Groupe CH purchased the Canadiens from George Gillett Jr. for $575 million.

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On Tuesday, Sportico — The Business of Sports website, published a report with its valuations of all 32 NHL franchises and the Canadiens came in at No. 3 with an estimated value of US$1.7 billion.

The Toronto Maple Leafs are the most valuable club, according to Sportico, with an estimated value of US$2.12 billion, followed by the New York Rangers (US$2.01 billion) and the Canadiens. The Chicago Blackhawks (US$1.44 billion) and the Boston Bruins (US$1.41 billion) round out the top five.

The lowest-valued franchise — not surprisingly — is the Arizona Coyotes at US$465 million. The Coyotes will play in the 5,000-seat Mullett Arena at the University of Arizona for the next three seasons while hoping plans to build a new 16,000-seat arena come through.

Sportico reported that for the first time the average value of an NHL franchise is just over US$1 billion — up nine per cent from last season. It also reported that the 32 NHL teams generated US$6.1 billion in revenue last season.

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After Molson and his group purchased the Canadiens, Forbes magazine reported “it could be years before the deal makes financial sense.”

After purchasing the team, Molson said: “This is a very exciting time for our family and we are grateful to the many people and organizations who came forward to offer their collaboration in the development of our proposal.”

The Molson family owned the Canadiens from 1957-71 and Molson Breweries re-acquired the club for $20 million in 1978. The brewery then sold the team and its arena to Gillett in 2001 for $275 million.

scowan@postmedia.com

twitter.com/StuCowan1

https://montrealgazette.com/sports/hockey/nhl/hockey-inside-out/canadiens-now-valued-at-us1-7-billion-according-to-sportico-report

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