New Jersey Devils Value Remains Consistent In Latest Forbes List

The Devils are still right in the middle of the pack in terms of team value.

Forbes comes out with a yearly evaluation of what sports franchises are worth. This year must be its most difficult year to do that. The pandemic has thrown everything out of whack. The fact that the future of sports and large gatherings in general is in flux makes valuing an asset that specifically relies on this near impossible. Well, those smarter than us at Forbes did it anyway. The New Jersey Devils surprisingly find themselves in the same spot, 15th on the list of 31 teams.

This isn’t all good news for Devils owners Josh Harris and David Blitzer (among many other minority owners). Last year, Forbes assessed the Devils’ value at around $550 million. This season, it dropped 4% to $530 million.

Obviously, no rich person is going to like losing $20 million on the evaluation of their asset, but this is all found money for the Harris-Blitzer group. Four years ago, the Devils were worth $325 million. The next season, they jumped up to $400 million. Now, the Devils have added $205 million in team value in less than half of a decade.

Looking ahead, the Devils should add even more value as the NHL gets a new TV deal and all teams share the payout from the Seattle Kraken franchise. Also, the Devils are going into this season with a clean slate. They still have the most cap space of any team in the league, although that may change once they sign Mackenzie Blackwood and Jesper Bratt. They play in an interesting division that will likely add the Boston Bruins to the mix. That should add some exposure to a team that isn’t without stars.

P.K. Subban was doing a lot during quarantine despite not playing hockey. His name value should help the Devils in the long run. Jack Hughes had months to build on his frame, which should lead to a much better season overall. Nico Hischier could become captain, and old stars like Travis Zajac and Kyle Palmieri will look to build up their own value before signing new contracts.

Things could be much worse for the Devils. The Arizona Coyotes, Florida Panthers, Columbus Blue Jackets, San Jose Sharks, and Nashville Predators all lost more percentage points in their value. They are all below the Devils in terms of total value, so they didn’t have as much room to lose.

There are surprising franchises below the Devils. The defending champs find themselves below the Devils. The Tampa Bay Lightning are 21st with a $470 million valuation. Some Canadian teams found themselves in the 20s in the Ottawa Senators and Calgary Flames. The Colorado Avalanche have a bright future, but the valuation of $465 million has them 22nd on the list. Even division rivals in the New York Islanders and Carolina Hurricanes are below the Devils.

The Prudential Center has to be part of the evaluation. The Devils alone aren’t worth as much as the arena they play in. It’s considered one of the best music and general attraction venues in the country. The Devils are lucky to play in such an arena.

Still, this evaluation shows the Devils as a franchise makes a lot of sense where they are. There are still some who will joke they should be moved to Quebec City or Houston, but the team is staying in New Jersey for a long time. Now that there is a new era of stars coming through, the team can continue to see its value rise. If they eventually become contenders, that playoff revenue will only help.