Kraken Edge Penguins On THN "Money & Power" Scoreboard

The results of Seattle Kraken vs. Pittsburgh Penguins on the ice won’t be known until the final horn Monday at PPG Paints Arena.

However, the Kraken have edged the Pens in the pages of The Hockey News 2024 “Money & Power” issue.

Since the two teams happen to be playing as THN revealed estimated team valuations on social media, we noted their proximity on the equally (even more?) competitive financial scoreboard.

Three estimated valuations were determined for each franchise; one by THN publisher W. Graeme Roustan, one by Forbes, and one by Sportico.

Why the difference in estimates? As Roustan writes, “The financial models that they (Forbes and Sportico) use have absolutely nothing to do with the sale price… The prices for these franchises will continue to soar no matter what some media companies calculate their valuations are, except mine, of course, since I use a much different methodology, first-hand, multiple sale-process experience since 1989.”

As the chart below shows, Seattle (15th) and Pittsburgh (16th) fall squarely in the middle of the 32-team league.

THN 2024 Money & Power Issue

Both teams carry interesting footnotes. As the NHL’s newest team, the Kraken paid a $650 million entry fee. Some estimates believe once the cost of Climate Pledge Arena, building an organization, and stocking NHL and minor league rosters are factored in, the total investment may exceed $2 billion.

The Penguins valuation is significant because there were several instances when their franchise was on financial life support. In fact, during the 1970s, THN reported Seattle as one of the potential landing spots for the in-the-red Pens. (To be fair, everywhere north of Mexico City was rumored to be a potential destination if Pittsburgh were to have new out-of-town owners.)

Most & Least Valuable NHL Franchises

Overall, the top six most valuable franchises are also the Original Six franchises. Toronto tops the list with estimates as high as $3.0 Billion. The U.S.-based team worth the most is the N.Y. Rangers.

Bringing up the rear are Carolina (30th), Columbus (31st), and Arizona (32nd).