Flames are 20th on Forbes’ 2020 franchise value list
By Ryan Pike
3 years agoFor those of you curious about such things, our friends at Forbes have completed their annual update for their Business of Hockey list. The list ranks the 31 NHL franchises by their estimated franchise value.
On the 2020 list, the Flames are 20th.
First, a disclaimer: Forbes obviously didn’t get all 31 NHL teams to open their books – not even the NHLPA can get that to happen – and so their listing is based on an estimate. They do a ton of research, but this listing isn’t meant to be anything but illustrative.
Per the Forbes estimate, the Flames are worth around $480 million (US). At 20th, the Flames are ranked ahead of Tampa Bay, Colorado, Anaheim, Carolina, Nashville, Ottawa, Winnipeg, Buffalo, Columbus, Florida and Arizona. (A main determinant of franchise value is revenue, and these are all smaller-sized markets – Forbes estimates the Flames were tied for 20th in revenue at $120 million, just a smidge behind Tampa Bay, Minnesota and Nashville and tied with Buffalo.)
Here’s the rationale behind the Flames’ value:
Construction on the Calgary Flames’ new arena is scheduled to begin in the second half of 2021 and be completed ahead of the 2024-25 season. It will hold up to 19,000 spectators and is expected to cost an estimated $400 million. The project cost will be shared equally between the city and the team, with the city getting 100% ownership of the building. The two companies leading the project, Dialog of Calgary and HOK in Kansas City, collaborated on Mercedes-Benz Stadium in Atlanta and Little Caesars Arena in Detroit. The team’s current home, Scotiabank Saddledome, opened in 1983 and is the third oldest NHL building.
(The oldest buildings according to Forbes are Madison Square Garden, recently renovated, and Nassau Coliseum, which isn’t really even the Islanders’ real arena.)
Expect the Flames to keep hanging around 20th in the Forbes rankings until the new building opens in 2024, at which point their increased revenues will likely see them head up towards Edmonton, currently sitting 14th.
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