New York Rangers Franchise Worth Goes Up, Now Second In NHL
According to sportico.com, the New York Rangers are worth $2.108 billion and are now second in the NHL. The Rangers are behind the Toronto Maple Leafs, whose franchise is now at $2.128 billion. The Rangers saw a 7% increase from the 2021-2022 season.
The league saw an increase in franchise worth across the board, averaging $1.01 billion. The average crosses the 10-figure mark for the first time and is up 9% from last year.
The Rangers owner, MSG Sports, had raised ticket prices for the 2022-2023 season, and the price increase was due to the playoff run of the 2021-2022 season. The playoff run created enough excitement that MSG Sports was allowed to do this, creating buzz for the current NHL season.
The Rangers, currently 6-3-2, are tied for first place in the Metropolitan Division with the New Jersey Devils with 14 points, one point ahead of the Carolina Hurricanes.
The New York Rangers franchise worth has gone up.
Revenue comes from ticket sales, promotions, advertisements, merchandise sales, and sponsorships. The New York Rangers have this kind of value because of their success, their brand, the market, and the sport they play.
The success on the ice is a big part of it, and because they have made it to the playoffs, there is an increase in playoff ticket sales. The Rangers have made the playoffs an incredible 61 times. During that time, they won four Stanley Cup championships.
Also, this will be the first season with a sports gaming sponsorship due to legalized betting in New York. The Rangers have steadily grossed $200 million per season, on average.
That total changed last season when the team only grossed $94 million due to the affected coronavirus season. The highest revenue was in 2008-09 when the Rangers generated $270 million.
The Rangers are in this spot because of revenue and on-ice product. The New York Rangers, year after year, are in contention for a Stanley Cup and do well in the playoffs.
They are a highly competitive team that plays in one of the more famous states in the United States, combined with a highly successful on-ice product that generates revenue and adds attention to your product.
Playing in New York and having a competitive team with on-ice success and leadership can only lead to more revenue. The Rangers are also $173,701 under the salary cap, which is one less issue the organization has.
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With ticket prices raised and the Rangers again in the mix, revenue can only increase again.