Winning two straight Stanley Cups is the ultimate achievement in professional hockey, a feat that should, in theory, send a team’s valuation soaring. But for the Florida Panthers, that’s not exactly the case. Their recent dynasty on the ice has done little to elevate the franchise’s financial standing, as they remain one of the least valuable teams in the NHL.
This surprising disparity between on-ice success and off-ice valuation isn’t new in professional sports. For the Panthers, who have won it all in consecutive years, the gap is tied to several key factors that keep them nowhere near the top of the NHL’s most valuable teams list. The latest franchise valuations put them at just $1.25 billion, an incredibly low number considering their recent success.
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A new list from Sportico ranks all major American sports franchises by their valuation, including teams from the NHL. The Panthers sit all the way down at No. 26 out of 32 franchises, a shocking reality that reveals something surprising about the league’s economics.
Their valuation sits at nearly half the $2.4 billion net worth of the Edmonton Oilers, the team they just defeated in back-to-back finals. This gap shows that while winning championships remains the ultimate goal, trophies don’t guarantee top-tier valuations. In the business of sports, a team’s worth often depends on factors beyond what’s in the trophy case.
Here’s the full 153 of @Sportico‘s major U.S. franchise valuations. Get your 🔍out…
🏈 @NFL – $7.13 billion average🔴
🏀 @NBA – $4.6 billion average🟠
⚾️ @MLB – $2.82 billion average🟢
🏒 @NHL – $1.79 billion average ⚪️
⚽️ @MLS – $721 million average 🔵 pic.twitter.com/qBlHS9j1XO
— Eben Novy-Williams (@novy_williams) August 13, 2025
This reveals a fascinating trend in the NHL: historical success and brand recognition still outweigh recent championship runs. While “Original Six” teams like the Toronto Maple Leafs, who lead the league with a $3.66 billion valuation, and the Montreal Canadiens haven’t won a Cup in decades, they still command valuations significantly higher than newer teams that have recently captured it all.
Legacy matters. These franchises built deep, generational fan bases and brand recognition that newer teams simply couldn’t match, no matter how many championships they win.
The Panthers’ on-ice success is undeniable, but closing the financial gap will take time. The team operates in a non-traditional hockey market in South Florida, competing for attention in a region where other major sports dominate the conversation.
The franchise’s history as a relatively new expansion team means it lacks the established fan base and brand value of teams like the Toronto Maple Leafs or New York Rangers. These franchises still command higher valuations despite their recent lack of championships. This disconnect explains why the Panthers’ on-ice success hasn’t yet translated into top-tier franchise valuation.
Championship success also comes with financial consequences. The team has committed substantial money to re-sign core players, including contracts for Sam Bennett, Aaron Ekblad, and others. This creates a tight salary cap situation, a common challenge for championship-caliber teams.
This financial pressure doesn’t necessarily hurt their value, but it highlights the management challenges that come with winning. Teams that reach the top often find themselves squeezed by the very success that got them there.
While the Florida Panthers have cemented their place in hockey history with their on-ice achievements, their financial standing still has significant ground to cover. The Panthers remain an anomaly: a small-market team that climbed to the top of the league, even though their financial standing has plenty of room to grow. For now, they’ll settle for being the most successful of the NHL’s bottom 10 most valuable franchises.
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