There was a time that the Montreal Canadiens and Toronto Maple Leafs were unquestionably the most valuable sports franchise in all of Canada. The two teams were head and shoulders above the rest of the country. Unfortunately for the NHL and for those two teams, that's no longer the case.

This week Sportico released an updated list of the most valuable franchise in Canada and while the Leafs and Canadiens still found themselves in the top 5, both teams have found themselves passed. Here are the final results.


The Toronto Raptors find themselves in the top spot, followed by the Maple Leafs, Toronto Blue Jays, Montreal Canadiens and the Edmonton Oilers round out the top 5. It is possible that as early as next season the Blue Jays could find themselves in the 2nd spot.

So why are hockey teams falling down this list?

While NHL franchises continue to grow in value, they do so at a significantly slower rate than any other major sports. Combined with the disastrous Sportsnet deal the NHL signed in Canada, the league has stagnated in many respects. With both MLB and the NBA having signed lucrative TV deals that see revenue increase, the NHL has turned to board advertisements to try and bridge this gap.

So despite what Gary Bettman continues to tell people the NHL is far from healthy when compared to other major professional sports. Only time will tell if the NHL can right the ship and get things back on track.