The Harris-Blitzer group that bought the New Jersey Devils back in 2013 is very happy with their investment today. They bought the Devils from Jeff Vanderbeek for $320 million as they tried to keep the Devils from bankruptcy. Now, the Devils are worth $530 million. That is even with a 4% drop in valuation, likely due to COVID-19’s questions surrounding hockey revenues when the Forbes list came out back in December.
Even with this offseason’s spending spree, the team went on this summer, the Devils are set to be very profitable next season after two hard seasons caused by the coronavirus pandemic. Bookies.com looked at the future financial success of every NHL franchise, and the Devils are in a great position. This looked at what teams should expect to profit in the year 2025. The Devils ranked 11th in the NHL.
According to Bookies, the Devils brought in $181 million in hockey-related revenue in 2019. They expect that number to jump to $197 million this year. It is going to go up every year until it eventually hits $241 million in 2025.
There are the normal powerhouses at the top of the list. The Montreal Canadiens are expected to be the most valuable NHL team, raking in $327 million in 2025. The New York Rangers are right behind them with expected revenue of $325 million. Those two teams are steeped in history, in two of the biggest hockey cities that exist, and they have a bright future with some really good young stars.
The Devils are above some surprising teams in the rankings. The Original Six Detroit Red Wings are 12th on the list, although a successful rebuild might be just what the doctor ordered. Meanwhile, the Dallas Stars come in 13th just one year removed from a Stanley Cup Final appearance. The back-to-back Stanley Cup Champion Tampa Bay Lightning are 16th on the list, and the team with the world’s best player Connor McDavid came in at 18th.
Some might argue the Devils are lifted by being in the New York media market, but that argument goes out the window when looking at the New York Islanders ranking. The team is moving into a brand new arena and fan excitement hasn’t been this high since the days of the dynasty. Yet, the predictor said they would rank 23rd on the list with just $170 million in revenue.
The Devils are a surprisingly good investment. The Devils jumping 33% in yearly revenue over a six-year period is incredibly impressive. Being on par with some of the greats in the NHL in terms of pure profits shows that the team is very healthy in downtown Newark. The days of questioning whether the Devils are moving are long gone.