KMOX/Associated Press

NEW YORK (AP) — The New York Rangers are worth an NHL-high $1.5 billion as team values continue to rise, according to the latest estimate by Forbes.

In its annual list of franchise valuations, Forbes says the average NHL team is now worth $594 million, up 15 percent from a year ago. It comes on the heels of Bill Foley’s group paying $500 million for the expansion Vegas Golden Knights, who come in 14th among 31 teams.

The Rangers lead the NHL for the third consecutive year. After the Rangers, the Toronto Maple Leafs are second at $1.4 billion, the Montreal Canadiens third at $1.25 billion and the Chicago Blackhawks fourth at $1 billion.

The St. Louis Blues rank 17th on this year’s list, with a value of $450 million. That’s just behind Anaheim and just ahead of Minnesota.

The back-to-back Stanley Cup-champion Pittsburgh Penguins come in 10th at $650 million. The Arizona Coyotes are last at $300 million.

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More NHL hockey: https://apnews.com/tag/NHLhockey

Copyright 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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