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Penguins

Penguins' franchise value stays flat at $650 million, Forbes reports

Jonathan Bombulie
| Wednesday, Dec. 5, 2018, 2:51 p.m.
A young Penguins fans cheers them on against the Capitals in the second period Thursday, Oct. 4, 2018 at PPG Paints Arena.
Chaz Palla | Tribune-Review
A young Penguins fans cheers them on against the Capitals in the second period Thursday, Oct. 4, 2018 at PPG Paints Arena.

The Penguins rank 11th in the NHL with a value of $650 million, according to the annual survey of franchise values released Wednesday by Forbes Magazine.

That number is unchanged from a year ago and up $170 million compared to five years ago.

Last season, the Penguins were the league’s 10th most valuable franchise. They were jumped by the Washington Capitals, who saw their worth increase $100 million to $725 million after winning the Stanley Cup and signing a new television deal in the past year.

Future television revenues are likely to pump up franchise values moving forward, Forbes reported. The league’s 10-year, $2 billion deal with NBC runs out after the 2020-21 season, and analysts expect the next national TV contract to nearly double in value.

A potential work stoppage in 2020 or 2022, of course, could derail that increase.

Four NHL teams have a value greater than $1 billion – the New York Rangers, Toronto Maple Leafs, Montreal Canadiens and Chicago Blackhawks. The Arizona Coyotes and Florida Panthers are the least valuable franchises, with price tags under $300 million.

Forbes also released a list of the league’s highest-earning players. Sidney Crosby is fifth at $13.8 million annually, behind Connor McDavid (19.5), John Tavares (17.3), Carey Price (15.6) and Alex Ovechkin (14.5).

Follow the Pittsburgh Penguins all season long.

Jonathan Bombulie is a Tribune-Review staff writer. You can contact Jonathan at jbombulie@tribweb.com or via Twitter @BombulieTrib.

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