According to Forbes, despite two shortened seasons due to COVID-19, the National Hockey League saw their franchises average a 32-percent increase in value over the last calendar year.
The New York Islanders grew more than most.
Their growth of 83-percent over the last year comes in as the second-highest annual growth in the NHL. That ranks second to the Edmonton Oilers, who saw a 100-percent increase from 2020 to 2021 to take that crown.
For the Islanders, the significant growth over the last year has been mainly due to the construction of UBS Arena, their new state-of-the-art home located in Belmont Park.
Since John Ledecky and Scott Malkin came into the ownership picture back in 2016, officially in 2018, the Islanders’ franchise has grown.
Over the last five years, the Islanders have increased their value by 147-percent, which is tied for first in the NHL with those same Oilers.
The NHL’s new television deal with ESPN and Turner Sports played a significant role in the spike in value for the Islanders and the rest of the 32 NHL teams.
Both networks combine to contribute $625 million annually to the NHL over the life of the seven-year deal.
The last television deal with the NHL involving NBC and ESPN (stream) was valued at $300 million per year, as this new deal sees an increase in revenue of $325 million.
Or in other situations, like the New York Islanders, a new arena did the trick.
The new state of the art arena in Belmont park, UBS Arena, has contributed to an 83-percent increase in overall value for the Islanders’ organization, which now sits 10th in the NHL at $950 million.
Just last year, Forbes magazine had the Islanders ranked 16th in the NHL, at $525 million.
Their annual growth ranks second in the NHL to the Edmonton Oilers, who saw a 100-percent growth from last season to this season.