We've mentioned this once or 50 times previously, but the Edmonton Oilers really do well to survive in the NHL, given that they are one of the smaller markets among the 32 teams. And by survive, we actually mean hold their own and prosper, with it being quite the impressive feat since they entered the league ahead of the 1979-80 season.
Of course it certainly helps when your franchise was previously beholden to the game's greatest ever player in Wayne Gretzky, along with currently being home to another superstar in Connor McDavid, who could one day conceivably also take his place on the Mount Rushmore of hockey. This duo aside though, the Oilers have done a fantastic job of competing well with the likes of the Toronto Maple Leafs, Montreal Canadiens and New York Rangers, when it comes to reaping the financial rewards of what the NHL has to offer.
With all this in mind and giving due credit to the Edmonton Journal's David Staples, Forbes has released their latest annual NHL valuations for all 32 franchises (subscription required). And Oilers fans will be more than happy to know their team is in an excellent financial position in the grand scheme of things.
Oilers do Edmonton and Canada proud
When it comes to the most valuable NHL teams in 2024, the Oilers are ranked sixth with a value of $2.65 billion in USD, which converts to $3.78 billions in Canadian dollars at the time of writing. According to Forbes, they have also seen a one-year change of 43 percent in their valuation.
However, where things really stand out with the Oilers is in their operating income of $213 million USD (around $304.15 million CAD), which is tops in the NHL. This is well ahead of their divisional rivals the Los Angeles Kings, who are in second place at $143 million USD ($204.2 million CAD).
The reason for this monstrous operating income, is as a result of the Oilers' playoff run last season, which saw them go all the way to Game 7 of the Stanley Cup Final before losing 2-1 in a heart-breaker to the Florida Panthers. This shows just how much the Edmonton community and the surrounding area embraces the team and loves them, which is of course a credit to one of the most loyal and passionate fan bases in all of professional North American sports, never mind just the NHL.
Salary Cap rises hold no fear to the Oilers
As a result on this ongoing financial success, it stands to reason that the Oilers will be one of the organizations who will love that the salary cap is now expected to rise more than previously projected in the next three seasons. As per NHL.com, the upper limit will be $95.5 million in 2025-26, $104 million in 2026-27 and $113.5 million for the 2027-28 season.
This will clearly help the Oilers, with Leon Draisaitl's new deal set to kick in next season, and pending lucrative contract extensions to be negotiated with McDavid and Evan Bouchard. Regardless, you know owner Daryl Katz will have no issue basically spending to the upper limit every season, no matter how much the salary cap increases.
For some general context, the Maple Leafs have the most valuable NHL franchise at $3.8 billion, followed by the Rangers at $3.5 billion and the Canadiens at $3 billion. At the other end, the Columbus Blue Jackets are the least-valuable NHL franchise at 'only' $1 billion, while the Winnipeg Jets are second-bottom at $1.05 billion. (All figures are USD.)
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