Toronto Maple Leafs dubbed NHL’s most valuable team at $1B

Toronto Maple Leafs forward Colby Armstrong, left, celebrates with teammates after scoring the game winning shoot-out goal defeating the Florida Panthers during NHL hockey action in Toronto on Tuesday, Feb. 1, 2011. (Nathan Denette / THE CANADIAN PRESS)

The Toronto Maple Leafs may not have won the Stanley Cup since 1967, but they continue to top the list of the NHL’s most valuable teams with Forbes Magazine pegging the organization’s worth at $1 billion.

The Leafs are worth $250 million more than the second most valuable NHL franchise – the New York Rangers.

Rounding out the top five are the Montreal Canadiens at $575 million, the Chicago Blackhawks at $350 million the Boston Bruins at $346 million.

Other Canadian teams include the Vancouver Canucks, ranked seventh at $342 million, while the Calgary Flames took the 12th spot at $245 million. The Edmonton Oilers ranked 14th at $225 million and the Ottawa Senators placed 16th at $220 million.

Canada’s least valuable team is the Winnipeg Jets, which is pegged at $200 million and took the 20th spot on the list.

Least valuable of the 30 teams are the St. Louis Blues at $130 million and the Phoenix Coyotes at $134 million.

While the Leafs came out on top in term of value, Forbes ranked the team last in terms of player-to-cost ratio as big spending on players have not translated into wins.

Forbes rankings of NHL teams:

1. Toronto Maple Leafs, $1 billion

2. New York Rangers, $750 million

3. Montreal Canadiens, $575 million

4. Chicago Blackhawks, $350million

5. Boston Bruins, $348 million

6. Detroit Red Wings, $346 million

7. Vancouver Canucks, $342 million

8. Philadelphia Flyers, $336 million

9. Pittsburgh Penguins, $288 million

10. Los Angeles Kings, $276 million

11. Washington Capitals, $250 million

12. Calgary Flames, $245 million

13. Dallas Stars, $240 million

14. Edmonton Oilers, $225 million

15. San Jose Sharks, $223 million

16. Ottawa Senators, $220 million

17. Minnesota Wild, $218 million

18. Colorado Avalanche, $210 million

19. New Jersey Devils, $205 million

20. Winnipeg Jets, $200 million

21. Anaheim Ducks, $192 million

22. Buffalo Sabres, $175 million

23. Tampa Bay Lightning, $174 million

24. Florida Panthers, $170 million

25. Nashville Predators, $167 million

26. Carolina Hurricanes, $162 million

27. New York Islanders, $155 million

28. Columbus Blue Jackets, $145 million

29. Phoenix Coyotes, $134 million

30. St. Louis Blues, $130 million