Sportico released its NHL team valuations on Tuesday, and the New York Islanders were ranked 13th amongst NHL franchises with a team value of $920M.
Following their first season at UBS Arena, 2021-22 revenue was at $205M, up drastically from $66M generated during the 56-game 2021 season played at the Nassau Coliseum and from $94M in 2019-20 when the team played games at both the Coliseum and Barclays Center in Brooklyn.
While the Islanders struggled to meet expectations last season and failed to miss the playoffs for the first time in four seasons, the organization, from a business perspective, was a success. “One of the things that got lost is that the Islanders just experienced one of the greatest turnarounds in history from a business standpoint,” said Tim Leiweke of Oak View Group (OVG) last May.
For context, the Islanders had the worst attendance in the NHL in 2018-19, playing at 75.9% capacity in the built-for-basketball Barclays Center. The team had a small season ticket holder base (approximately 2,000) and was at the bottom of the league in revenue generated.
The Islanders average attendance last season was 16,492 (capacity 17,255), ranking them 16th in the league overall, although many NHL teams have larger potential capacity. The team sold 99% of their tickets, including 11,000 season ticket packages for their inaugural season at UBS Arena.
The average NHL team is worth $1.01 billion, according to data compiled bySportico. The Toronto Maple Leafs rank first at $2.12 billion, while the Arizona Coyotes rank last at $465 million. Collectively, the 32 NHL franchises are worth $32.4 billion.
Jon Ledecky and Scott Malkin agreed to purchase the Islanders from Charles Wang in September 2014, valued the Islanders at about $485 million. It included a stipulation that the two would start off as minority owners before taking full control of the team in 2016. After that happened, Malkin and Ledecky owned 85 percent of the team with Wang retaining a 15 percent share.