Devils News
Report: Devils Franchise Among Largest One-Year Value Increases, What it Means
In a report by Sportico, their latest NHL Franchise Valuation reveals the New Jersey Devils are among the largest one-year value increases.
This might come as a surprise after the season they had last year, but the New Jersey Devils saw one of the largest one-year franchise value increases from 2023 to 2024. Typically, winning brings sales, and the Devils certainly struggled to reel in the victories last season. Yet, according to Sportico, only five other franchises saw a bigger value increase than New Jersey.
Sportico, a digital content platform providing sports industry news, data, insights, strategies, leadership and live media experiences, conducted it’s fourth annual NHL franchise ranking valuation. Over the last year, the New Jersey franchise saw an incredible 47% increase in their franchise value. Last season, the Devils were valued at $1.16 billion — ranked 16th overall among NHL teams.
However, as of Oct. 30th, 2024, Sportico reports the Devils’ 47% value increase prices the New Jersey franchise at $1.7 billion, which increases their rank by two, 14th overall in the NHL.
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In addition to the Devils, among the largest franchise valuation increases are the Boston Bruins (50% increase, ranked fourth overall), Edmonton Oilers (51% increase, ranked seventh overall), the New York Islanders and Dallas Stars (49% increase, ranked 15th & 16th respectively), and the largest increase of them all in the Utah Hockey Club (78% increase, ranked 28th overall).
One of the most notable takeaways from Sportico’s report is all 32 NHL franchises are valued at over $1 billion.
The Devils continue to climb Sportico’s valuations, ranking 22nd overall among NHL clubs in 2022, jumping six spots in 2023, and then another two spots in 2024 now within the top-15 most valuable franchises.
Last fall, the Andlauer Group agreed to purchase the Ottawa Senators for $950 million. Earlier this month, Jeff Vinik sold a majority stake in the Tampa Bay Lightning at a reported US$1.8 billion.
Devils owners Josh Harris bought the New Jersey franchise in 2013, reportedly paying “more than $320 million” in 2013. Harris later created the Harris and Blitzer group (with David Blitzer) in 2017. That means if the Devils owners choose to sell, the Harris and Blitzer group could profit around $1.38 billion.
Certainly, someone is intrigued by the thought of purchasing an increasingly valuable franchise that features the likes of Jack Hughes and Nico Hischier, right?
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