NEW YORK -- The average value of NHL teams has increased, although the overall numbers mask struggles for many teams.
Forbes magazine's annual report released Wednesday found that the average franchise was worth $228 million, up 2 percent from last year. But nearly half of the league's teams -- 14 of 30 -- saw their values decline.
The Toronto Maple Leafs remain No. 1 at $505 million.
The changes in value highlight the gap between the haves and have-nots. Large-market franchises such as the New York Rangers, Montreal Canadiens, Boston Bruins, Philadelphia Flyers, Chicago Blackhawks and Vancouver Canucks had their values increase by double-digit percentage points.
The Rangers, Canadiens, Detroit Red Wings and Bruins round out the top five.