NHL Team Values, Expansion, and Gambling – Bettman Speaks
NHL Team Values Surge: Bettman Believes Teams Still Undervalued
National Hockey league Commissioner Gary Bettman asserts that NHL teams remain undervalued,despite a significant increase in their average worth. According to CNBC’s Official NHL Team Valuations published November 25, 2025, the average NHL team is now valued at $2.2 billion, a 15% jump from the previous year.
Bettman specifically believes the Toronto Maple leafs, currently valued at $4.3 billion and topping CNBC’s list, could fetch even more on the open market. He stated, “If you were to put the Toronto Maple Leafs on the market on their own, they would sell for far more than a $4.3 billion valuation.”
The league has seen considerable growth in recent years, with values increasing over 100% in the last three years. Bettman notes that NHL team valuations are increasingly competitive with those of Major League baseball teams, which range from $1.2 billion to $8 billion.
Recent Expansion Team Values
The NHL’s expansion strategy has also proven successful. Here’s a look at the expansion fees and current valuations of recent additions:
| Team | Year Joined | Expansion Fee | Current Valuation (CNBC 2025) |
|---|---|---|---|
| Vegas Golden Knights | 2017 | $500 million | $2.1 billion |
| Seattle Kraken | 2021 | $650 million | Valuation not explicitly stated in source, but less than Vegas |
| Utah Mammoth (formerly Arizona coyotes) | 2025 | $1.2 billion | Valuation not explicitly stated in source |
The league recently secured a record $7.7 billion Canadian media rights deal with [Media Company Name – *information missing from source*].