For the first time in NHL history, three franchises are reportedly valued at over $1 billion apiece.
The Toronto Maple Leafs ($1.3 billion), New York Rangers ($1.1 billion) and Montreal Canadiens ($1 billion) all crossed the ten-digit threshold thanks in large part to the league's new $5.2-billion television contract, according to Forbes.
The Leafs generated $190 million in revenue last season, with an operating income of about $71 million. The Rangers actually posted more revenue ($217 million), with a higher operating income ($84.4 million).
The Canadiens have a sellout streak dating back to 2004 despite having the second-highest ticket prices in the NHL.
Rounding out the top five are the Chicago Blackhawks and Vancouver Canucks. The Blackhawks are worth $825 million, while the Canucks are valued at $800 million.
The Florida Panthers have the distinction of being the team with the lowest value. The Panthers, who Forbes estimates are worth $190 million, lost nearly $16 million in operating income last season.
The NHL made close to $4 billion, revenue-wise, in 2013-14, its first full season under the new collective bargaining agreement.