Official: Alexandar Georgiev Signs In Russia

Russian-Bulgarian goaltender Alexandar Georgiev, 29, has signed a two-year contract to play for Spartak Moscow, the KHL club announced on Tuesday.

The news comes two days after Georgiev’s contract with the Buffalo Sabres was terminated by mutual agreement, and it was speculated at the time that it was done with the intention of returning to play in Russia.

Georgiev had only played two AHL games for the Rochester Americans this season, both losses, with a goals-against average of 3.57 and a save percentage of .896.

For Georgiev, who was born in Bulgaria but moved with his family to Russia at a young age, it will be his first time playing in the KHL and his first time playing in Russia since 2014, when he was 18.

From age 18 to 21, Georgiev played in Finland, mostly for TPS Turku, with whom he played 54 Liiga regular-season and playoff games and three Champions Hockey League games.

Chris Driedger Leaves KHL Team; Headed Back To Winnipeg?Chris Driedger Leaves KHL Team; Headed Back To Winnipeg?KHL contract terminated, Chris Driedger's Winnipeg rights loom large. A potential homecoming amid Jets' goalie concerns?

Never drafted by an NHL club, Georgiev signed as a free agent with the New York Rangers in 2017. From then until 2025, he played 303 NHL regular-season games with the Rangers, Colorado Avalanche and San Jose Sharks, compiling a record of 151-108-26 with 15 shutouts, a goals-against average of 2.99 and a save percentage of .903. He also played 20 playoff games, where his record was 9-10 with a 2.72 average and .904 save percentage.

Georgiev joins a Spartak team that sits seventh in the KHL’s 11-team Western Conference with a record of 14-12-3 through 29 games. Spartak’s roster includes Slovak ex-NHLers Adam Ružička and Christian Jaroš. He will likely share a crease with 30-year-old Artyom Zagidulin, who played one game for the Calgary Flames in 2021.

Ex-Blackhawks D-Man Finds Third KHL Team This SeasonEx-Blackhawks D-Man Finds Third KHL Team This SeasonMobile defenseman Wyatt Kalynuk joins his third KHL club this season, aiming to boost the Shanghai Dragons' blueline.

Three Penguins Forwards Who Must Be Better Going Forward

The Pittsburgh Penguins got off to an 8-2-2 start to the 2025-26 season and were the best team in the NHL after October. 

They were getting contributions throughout the lineup at both 5v5 and on the man-advantage, plus getting elite goaltending from Arturs Silovs and Tristan Jarry. The goaltending has remained good in November, even without Tristan Jarry for a bit, but the offense has really dried up, leading to them losing seven of nine games this month. Part of it is due to numerous forwards being out of the lineup, but another part of it is due to some players not being up to par. 

With that in mind, here's a look at a few forwards that need to be better for the Penguins.

Tommy Novak

I was really high on Novak heading into the year and liked the move to get him from the Nashville Predators during last season's trade deadline. He has a history of being a productive playmaker and has an underrated release, but has been really underwhelming to start the year, compiling only two goals and seven points in 21 games. He also doesn't have a point in the last four Penguins' games. 

We saw a glimpse of some early chemistry between him and Evgeni Malkin during the second game against the Los Angeles Kings on Nov. 9, but since then, it's been a lot of nothing. Heck, even when he has gone back down to the third line with first-round pick Benjamin Kindel, the chemistry between the two hasn't been the same as it was earlier in the season. 

It feels like Novak is second-guessing everything he does when he's on the ice. If he can find his game, it would give the Penguins another good option for their middle six, especially due to how versatile he is. 

Bryan Rust

It may seem odd that someone with 15 points in 19 games needs to be better, but only five of those points are goals. Rust hasn't scored a goal in his last six games and only has one point during that time, too. 

He hasn't been forechecking as well as he normally does, and the puck is also being dislodged from his stick quite a bit. He's also not playing well in his own zone when his line is hemmed in. Per MoneyPuck, out of 17 forwards who have played at least 50 minutes at 5v5 for the Penguins, Rust ranks 16th in on-ice expected goals with 43.9%. The process simply hasn't been there. 

Rust has been a core leader on this team for the last several years and is coming off a career season, finishing with 31 goals and 65 points in 71 games. However, his game hasn't been up to par, and it needs to change. 

'It's A Dream Come True': Penguins' Prospect Tristan Broz Grateful For Those Inolved In Journey To NHL'It's A Dream Come True': Penguins' Prospect Tristan Broz Grateful For Those Inolved In Journey To NHLWhen a media scrum formed around <a href="https://thehockeynews.com/nhl/pittsburgh-penguins">Pittsburgh Penguins</a>' forward prospect Tristan Broz - just <a href="https://thehockeynews.com/nhl/pittsburgh-penguins/latest-news/penguins-top-forward-prospect-recalled-from-ahl">recalled from Wilkes-Barre/Scranton (WBS) Monday morning</a> - after practice, something a bit unusual happened.

Kevin Hayes

Hayes has only played in six games since he missed the start of the season due to an injury he suffered during training camp, but has looked a couple of steps slow in the top six. 

He's a short-term replacement for Justin Brazeau on the second line, who was lighting it up for the Penguins before getting hurt at the end of October. Brazeau, Evgeni Malkin, and Anthony Mantha couldn't be stopped by teams when they were in the offensive zone. 

Hayes was fine in a depth role last year despite his lack of footspeed, racking up 13 goals and 23 points in 64 games, but has yet to produce a lot of offense this year, compiling only one assist.

I don't expect him to light the league on fire, but he needs to be a lot more noticeable. 


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Canadiens Prospect Makes Top Young Players List

The Hockey News' Ryan Kennedy recently ranked the top 100 hockey players who are 21 years old or younger. 

The Hockey News has now revealed the players who were ranked from No. 81 to No. 100, and Montreal Canadiens prospect David Reinbacher made it. This is because Kennedy ranked Reinbacher at the No. 97 spot. 

With Reinbacher being a young defenseman with good potential, it makes sense that he has made this list. Injury trouble has kept him off the ice a lot early on his career, but he has still shown promise when healthy. 

In 31 games over three seasons with the Canadiens' AHL affiliate, the Laval Rocket, Reinbacher has posted seven goals, 10 assists, 17 points, and a plus-12 rating. He has also been off to a solid start this season with Laval, recording three goals, four assists, seven points, and a plus-1 rating in 10 games thus far. 

Reinbacher was selected by the Canadiens with the fifth-overall pick of the 2023 NHL Entry Draft, and they have high hopes that he will be a big part of their blueline in the future. The 21-year-old blueliner has good upside, and it will be fascinating to see how he continues to develop his game. 

NHL Rumor Roundup: Could The Leafs Peddle Brandon Carlo? Could The Penguins Shop A Goalie?

The Toronto Maple Leafs entered this week sitting last in the Eastern Conference standings.

Before reaching that lowly position, they were already the subject of speculation about whether a trade could reverse their fortunes.

Several players, including defenseman Brandon Carlo and forwards Max Domi, Calle Jarnkrok, Nick Robertson, Bobby McMann and Dakota Joshua, were floated as potential trade candidates.

Jonas Siegel of The Athletic recently examined those candidates. He felt that Carlo and Domi could deliver the type of return management would seek to impact the roster.

Of the pair, Siegel felt Carlo the easiest to move. He acknowledged the 28-year-old blueliner was off to a slow start before being sidelined by a lower-body injury. However, Carlo is a right-shot defenseman, and those blueliners are currently coveted around the league.

Carlo is in the fifth season of a six-year contract. The Leafs carry $3.485 million of his $4.1-million cap hit, which could make him enticing for cap-strapped teams seeking an affordable top-four defenseman.

Siegel also pointed out the downside of trading Carlo for the Leafs. They gave up a first-round pick and prospect Fraser Minten to get him from the Boston Bruins, meaning they'd have to get something comparable in return. Moving him now would also leave a big hole on the right side of their defense corps.

Carlo might draw more interest closer to the March 6 NHL trade deadline. Given the Leafs' current position, that move would come too late to save their season. By that point, they would be sellers instead of buyers.

Arturs Silovs (Per Haljestam-Imagn Images)

Meanwhile, in Pittsburgh, the Penguins could soon have a crowded crease once Tristan Jarry returns from injury, joining Arturs Silovs and promising Sergei Murashov.

Dan Kingerski of Pittsburgh Hockey Now believes the Penguins could use more scoring. He wondered if they would move one of their goalies for a return that would help them address their offensive needs.

Jarry's recent injury, inconsistent play and $5.375-million cap hit through 2027-28 (with a 12-team no-trade list) make him difficult to move in the trade market. Murashov has shown potential as a future starter, so he's not going anywhere. That could leave Silovs as the odd man out.

The Penguins gave up a fourth-round pick to acquire Silovs from the Vancouver Canucks in July. Kingerski wondered if his solid play this season might fetch a second-rounder, which could be used to add a scoring forward.


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Why The Islanders Haven’t Placed Romanov Or Pageau On LTIR Yet

On Sunday, the New York Islanders announced that they'd be without defenseman Alexander Romanov and forward Jean-Gabriel Pageau for a while. 

Romanov will be out five to six months due to a right shoulder injury, which will require surgery. His regular season is likely over, with the potential for him to return for the playoffs still up in the air. 

BREAKING: Islanders' Alexander Romanov To Have Shoulder Surgery, Out 5-6 Months BREAKING: Islanders' Alexander Romanov To Have Shoulder Surgery, Out 5-6 Months Devastating blow for the Islanders: Romanov's season ends abruptly due to shoulder surgery after a controversial hit. Recovery targets next season.

He is on Injured Reserve. 

Pageau is out week-to-week after sustaining an upper-body injury late in their 2-1 loss to the St. Louis Blues on Saturday.  

BREAKING: Islanders Center Jean-Gabriel Pageau Out Week-To-Week with Upper-Body InjuryBREAKING: Islanders Center Jean-Gabriel Pageau Out Week-To-Week with Upper-Body InjuryPageau's upper-body injury sidelines the Islanders' reliable center, leaving a significant void just as the team faces mounting player absences.

However, despite their upcoming longer-term absences, the Islanders have yet to place either on Long-Term Injured Reserve. 

Per the NHL CBA, a player who is placed on LTIR must miss 10 games and 24 days. We know Romanov fits that bill, but maybe, maybe Pageau doesn't. 

Pageau, if placed on LTIR, would be eligible to return on Dec. 19 against the Vancouver Canucks. 

And because a team can place a player LTIR retroactively, there's no rush. 

The biggest reason why is because it's like a credit card. 

Do you need a $100 million credit card limit? No. It’s useless to add more money to LTIR if you don’t even need LTIR. They placed Engvall on LTIR because they may need to use it. They already di,d but never came close to using it, outside of the Marshall Warren recall. 

As of this moment, with prospect Marshall Warren back in Bridgeport, the Islanders are accruing cap space since they are no longer dipping into Pierre Engvall's LTIR relief -- $3 million. 

Islanders Loan Defenseman Marshall Warren Back To BridgeportIslanders Loan Defenseman Marshall Warren Back To BridgeportMarshall Warren returns to Bridgeport. Defenseman Adam Boqvist steps up for the Islanders as Alexander Romanov faces a long-term injury.

The Islanders cannot recall Warren until he plays one AHL game, per the new rule eliminating paper transactions. 

The Discourse Around Matvei Michkov Makes No Sense

The great debate for the Philadelphia Flyers so far this season has been whether or not star sophomore forward Matvei Michkov is getting a fair shake under new head coach Rick Tocchet and being put into positions to truly succeed.

Virtually every young draft pick, like Michkov, has to spend time learning the ropes during their rookie season. That is why it wasn't a real surprise to see the 20-year-old Russian finish the 2024-25 season averaging 16:41 a game.

This season, though, under Tocchet, that number has plummeted nearly two full minutes down to 14:53, and, as a result, Michkov's offensive production has suffered.

With five goals, five assists, and 10 points in 21 games, Michkov is on pace for a measly 20-goal, 40-point season.

That said, though, despite a 33% regression from Michkov, Tocchet still has his supporters who believe the Flyers' franchise player hasn't earned further opportunities.

For example, former NHLer Colby Cohen argued for Daily Faceoff that, because Michkov doesn't kill penalties, "he's never going a 20-minutes-a-night guy."

The argument is inherently flawed, as Michkov has already been and succeeded as a 20-minute player for the Flyers this same calendar year.

In the nine games that remained after John Tortorella was fired by the Flyers, Michkov played 20 or more minutes five times, excluding a game that he finished at 19:59.

The Russian phenom had two goals and an assist in two of those games, and recorded a point in three of the five. Overall, over the final stretch of the ill-fated 2024-25 season, Michkov finished with six goals, six assists, and 12 points in nine games.

Now, he has 10 in 21. How does that happen?

Simply put, Michkov just needs to play, and the Flyers need to put in as much effort into finding a line combination that works for him as they do with Noah Cates and Tyson Foerster; the latter has been pigeonholed into a checking role despite his own offensive talents.

Ex-Flyers Coach Turning Devils Defenseman Into a MonsterEx-Flyers Coach Turning Devils Defenseman Into a MonsterThe <a href="https://thehockeynews.com/nhl/philadelphia-flyers">Philadelphia Flyers</a> benefitted from some strong coaching from Brad Shaw in the past, but now, predictably, his departure is working directly against them.

Nikita Kucherov, in his second full NHL season, was averaging 18:13 a night. Jack Hughes, 19:04. Trevor Zegras, 18:50. Lucas Raymond, 17:23.

And, while Raymond's ice time did actually decrease from Year 1 to Year 2, he still played more on average than Michkov ever has in his NHL career.

Directly counter to Cohen's argument, the best way to learn is sometimes by doing and not by watching. 

Stifling Michkov's offensive creativity by making him forecheck as an F1 on a 6-on-5, or by putting him with grinders on 6-on-5, isn't going to help, either.

This is the Flyers' franchise player we're talking about, after all, and to dismiss the concerns and observations of desperate fans is to be disingenuous at best.

5 Blackhawks Thoughts Following First 0-3-0 Stretch Of 2025-26

For the first time during the 2025-26 season, the Chicago Blackhawks are in the middle of a 0-3-0 stretch. Losing three regulation games in a row is never a good thing in the NHL, but now the focus has to become finding a way out of the slump. 

A lot has happened during that three-game sample. The first game was a loss to the Seattle Kraken on Thursday night. Chicago had a 2-0 lead but allowed the Kraken to win it in regulation, 3-2. 

The middle game on Friday, the second half of a back-to-back, was a 9-3 clobbering at the hands of the Buffalo Sabres. This, the one road game during this losing streak, was Chicago's worst game of the year. 

The third of three straight losses came on Sunday night against the Colorado Avalanche at the United Center. This was a 1-0 win for the Avalanche. Despite being shut out, the team and head coach believed that they bounced back nicely following the bad game against the Sabres two nights prior. 

"Even with the second, I think if we repeat that performance, we win lots of games," said head coach Jeff Blashill. "The other team is going to push back. That's just the reality of life. I thought we did an excellent job in our structure [and] an excellent job with some of the things we talked about that we didn't do in Buffalo."

Now, at 10-8-4, they are below the playoff line, but they are mixed in with all of the other bubble teams trying to find a way into the top-8. 

These are 5 thoughts following this 0-3-0 stretch ahead of their game against the Minnesota Wild on Wednesday night: 

1. Connor Bedard is incredibly important to the Chicago Blackhawks organization both on and off the ice. Every other fan in the crowd is wearing a #98 jersey, and he is their best player in between the whistles by far. 

They gave him an "A" when Nick Foligno and Jason Dickinson were out of the lineup at the same time, and didn't take it away when Dickinson came back. 

Jeff Blashill also publicly disagreed with the referees after the game on Thursday against the Kraken. Although Bedard doesn't want to be showing up referees during the play, Blashill made it clear he was on his player's side. 

With this new leadership role and his newfound elite scoring touch, the pressure is on Team Canada to select Bedard for the 2026 Winter Olympics. The Blackhawks are doing everything they can to help him on that journey. 

2. Ilya Mikheyev is one of the top penalty killers in the league. He helps them score a handful of goals at even strength, along with his work in the defensive zone, but his work on the PK is second to none. 

There are a few players on the team who have skillsets made for killing penalties, but everything is led by the play of Mikheyev in this situation. The Blackhawks have an 83.3 kill percentage, which is a unit that has been consistently in the top-10 all season long. 

3. Nick Lardis is a high-end prospect. While playing with the Rockford IceHogs this weekend, Lardis scored four goals in two games played. 

This isn't something that directly impacted results for Chicago, as he is still working up to his NHL debut, but he is proving over and over again that he deserves his chance soon.

The Blackhawks have not been without injuries to forwards this season, and Lardis has the pedigree to make him a "next man up" candidate. 

If Lardis continues to make plays and score goals, he may force Kyle Davidson's hand regardless of whether there is an injury or not. 

4. Ryan Greene has had a good stretch of play. With the injuries that the Blackhawks have had this year, Greene has been given opportunities up and down the lineup. 

So far this season, Greene has just two goals and four assists, but his play with and without the puck is helping everyone around him be better. Once he starts finishing a tad bit more, he will be a valuable depth piece on a winning team. 

Against the Colorado Avalanche on Sunday, Greene had a handful of high-quality chances to score in the first period alone. Eventually, those will start going in more. Throughout his development, he has never sacrificed playing the right way for offense. If he keeps that mentality, he will carve out a great career. 

5. Early in the season, it seemed like the Blackhawks would eventually have to stop going with the 11/7 strategy. There have been multiple times where a forward gets hurt, and the Blackhawks are down to 10, but the benefit this has on the defense can't be overstated. 

Outside of Matt Grzelcyk and Connor Murphy, all of the Blackhawks' defensemen are young. Having more options allows Jeff Blashill to be easier on them with their ice time. If someone is having a tough stretch, they can play in a smaller role. If someone is playing well, they can earn minutes. 

There is still an outside chance that they move to 12/6 full-time this year, but Ethan Del Mastro, Nolan Allan, and Kevin Korchinski are all down in Rockford as well. The 11/7 strategy may be beneficial to them if they get called up at any point down the stretch. As long as whoever is playing continues trending up, Blashill will keep it going. 

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Observations From Blues' 3-2 Loss Vs. Rangers

Another game there for the taking for the St. Louis Blues, another game that frustratingly slips away.

This time, another 3-2 setback to the New York Rangers at Madison Square Garden in New York on Monday.

The Blues (7-10-6) got goals from Dylan Holloway and Brayden Schenn, and Joel Hofer made 17 saves on the fourth game of a season-high five-game road trip where the Blues are now 1-1-2 with one final game Wednesday against the New Jersey Devils.

"I didn't think we played with the requisite of intensity and connected and puck support that we've been playing with the three previous games," Blues coach Jim Montgomery said.

Let's look at Monday's game observations:

* First 10 minutes of third where game was lost -- In a 1-1 game on the road, the Blues were in a good spot to grab at least perhaps a point, maybe two with a strong final period.

But they got pinned into their zone to begin the third, had a chance to get a puck out that caromed away eventually and a redirection in front by Alexis Lafreniere of Vladislav Gavrikov's left point wrister just 40 seconds in gave the Rangers a 2-1 lead and getting that all-important go-ahead goal:

And when Adam Edstrom made it 3-1 at 8:56 of the period on a shot from in tight surrounded by three Blues on the play, it would be a tall task for a team struggling to score more than two goals to make a comeback:

It would wind up being the 20th and final shot on goal for the Rangers in the game.

"Obviously not the way we wanted to start it for sure," Blues defenseman Colton Parayko said. "Tough to go down two in the third."

* Blues inability to win when scoring first -- Monday marked the 13th time the Blues scored first in a game, and it was a beauty of a goal when Holloway tied for the team lead with his sixth, and the line did a great job of forechecking pucks back after Parayko's initial keep-in from the right point:

It marked the eighth time in the past nine games the Blues have scored first, but they fell to 5-3-5 in those games when the league on average, teams that score first win roughly 67 percent of the time.

In just seven of those games, they've continued to forge forward and increase the lead, and it's impossible to gain each and every point when scoring first, but the Blues, who have 20 points on the season, have left 11 points on the table in this instance.

"That's the difference in winning games, burying those chances," Holloway said. "It's good to get those chances, but we've got to bear down and score."

And considering the Rangers came in a woeful 1-7-1 on home ice, scoring just 13 goals and shut out in a franchise-most five of those games, this was a chance to not only extend a lead against a team that has had trouble scoring and lost four in a row.

* Rangers tying goal opened door for struggling home team -- Up 1-0, the Blues were in a good spot until Vincent Trocheck tied it 1-1 at 10:06 of the second period.

The Blues had multiple forward lines on the ice that needed to get a puck in deep, but it never made it past the opposing side's blue line, and therefore, defensemen Cam Fowler and Logan Mailloux's shift was extended way too long at 2:19 each. Oskar Sundqvist, who was one who had a chance to get a puck deep but it got knocked down in the neutral zone, keeping the Blues' D on the ice, was on for over two minutes himself until he could finally get a change right before the goal, and on the goal, the Blues left an opening on an up pass through the middle creating a 2-on-1 that Trocheck wristed into the top right corner:

"Yeah it is an extended shift and that's why in the second period there tends to be more goals scored in the league because it's hard to get your changes in the second and the five guys got to help each other get their changes," Montgomery said. "Forwards always get off the ice, D-men don't because they've got to stay. Then the next guys that come out, they've got to make sure they're protecting good and that they're helping out the D, so they can get off the ice."

* Hofer made key saves early to give Blues chance to go ahead -- The numbers on the night don't look great for Hofer (.850 save percentage), but his saves on Braden Schneider at 8:24 of the first period and Mika Zibanejad at 15:45 of the first period allowed the Blues to stay in a 0-0 game.

* Goal scoring has dried up -- Monday marked the fifth straight game that the Blues scored two or fewer goals, and it coincides with their goaltending being better of late.

And this comes with Brayden Schenn, who scored his first goal in 12 games on Saturday in a 2-1 win at the New York Islanders, now has goals in back-to-back games when Pavel Buchnevich's shot caromed off the Blues captain and past Igor Shesterkin with 1:15 remaining to make it 3-2, but that's as close as the Blues would get:

But Schenn missed a breakaway in the first period at 8:24 of the first period, even though it was at the end of a shift. Jake Neighbours had a great chance to give the Blues a 2-1 lead at 16:42 of the second period off a shot from the slot after a Robert Thomas pass. Schenn also fanned on an open look in the bumper with 3:16 remaining in the game while the Blues were on a four-minute power play, and Holloway whiffed on a hard pass by Thomas in tight with 19.3 remaining that would have tied the game.

All the lack of goal scoring has coincided with the top guys not getting it done. 

Jordan Kyrou hasn't scored in five games; Thomas has one goal in 10 and no points the past three games; Jimmy Snuggerud has no points the past four games and one goal in 12; Buchnevich now hasn't scored in 15 games; and from the defense, Fowler and Parayko each hasn't scored yet this season. 

This team needs its top players to produce, or these results will look all too familiar.

* Power play had chance to be difference -- Yes, the Blues' power play has been good, and it's 12th in the league at 22.4 percent. But going 0-for-4 (the last one was only three seconds at the end of the game) did them no favors and they produced only three shots on them.

The one that had to be frustrating was a double-minor given to Brett Berard for high-sticking Neighbours, who was also high-sticked by Schneider in the second period, with 5:51 left. It was there where Schenn fanned on his attempt, and the Blues passed on a couple open looks with 2:41 remaining.

"Yeah there were a couple of shots that were passed up," Montgomery said. "We whiffed on a great chance to tie the game up, right at the net front (Holloway's chance late), in a pulled goalie situation. We need to start making some of those plays in those areas so that we can have wins where we come from behind and get on a streak."

* Mailloux looked better -- Mailloux, who was called back up from Springfield of the American Hockey League on Saturday after playing five games with the Thunderbirds (two goals), was a minus-2 in the game and played 13:59 but I thought he was more assertive in this game that any of the previous ones he played in prior to being sent down.

He attacked more confidently, played a physical role, and he rung a shot off the post when Montgomery put him on the ice during the third-period power play. There was nothing he could have done differently on the goals that were scored while he was on the ice.

"I thought Mailloux was very assertive," Montgomery said. "I liked him on the PP there at the end when we gave him an opportunity. I thought he was very aggressive and had a good shot-first mindset, but made some passes. The minus-2, I know the second goal, he had nothing to do with it."

Mailloux, who was playing alongside Cam Fowler, had one hit and one blocked shot with one shot on goal.

"I kind of felt more like myself out there," Mailloux said. "I was moving pucks, getting in the play, getting some shots off. So unfortunate kind of ending, but I felt better for sure."

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2025 CNBC NHL franchise valuations: See how all 32 teams rank

2025 CNBC NHL franchise valuations: See how all 32 teams rank originally appeared on NBC Sports Boston

The highest-valued NHL team still reigns in Canada.

The Toronto Maple Leafs remain No. 1 on CNBC’s list of NHL valuations for 2025 at $4.3 billion, a lead of $500 million over the second-highest team. It also is $2.1 billion above league average. Toronto in 2024 had a valuation of $3.8 billion and sat $1.89 billion above league average.

Trailing the Maple Leafs in the top three are the same two teams from 2024. The New York Rangers are second with a valuation of $3.8 billion, a $300 million increase. In third are the Montreal Canadiens, which also rose by $300 million to hold a $3.4 billion valuation.

There has been a slight shakeup in the top five, though. While the Los Angeles Kings remain No. 4 at $3.15 billion, the Edmonton Oilers ($3.1 billion) have bumped down the Boston Bruins ($3.05 billion) to seize the No. 5 spot.

Rounding out the top 10, in order, are the Chicago Blackhawks ($2.75 billion), Philadelphia Flyers ($2.6 billion), Washington Capitals ($2.5 billion) and Detroit Red Wings ($2.47 billion)

With the average NHL team now worth $2.2 billion, 15% more than last year, what’s behind the increase? CNBC senior sports reporter Michael Ozanian broke it down with the most important factor.

“The increase in values for NHL teams largely stems from their national media rights deal,” Ozanian said. “So, earlier this year, Rogers Communications, which has the national rights for National Hockey League games in Canada, they signed a new deal with the NHL that’s more than a 100% increase over their existing deal. And what analysts are telling me in the media space that sort of advise and consult for teams and leagues and networks, is that the next deal for the United States? The next national deal is likely also see a doubling in value.”

The national media deals are significant in hockey because the money involved are split evenly among the 32 teams. Whether a team is in Winnipeg or in New York, winning or losing, the revenue share is equal.

So, why do the Maple Leafs have a sizeable lead over the Rangers, who are located in the biggest U.S. market? Ozanian explained that it stems from the difference between national media revenue versus local TV rights.

“The local TV rights, particularly those rights on regional sports networks in the U.S., are under a lot of pressure,” Ozanian started. “They’re … being reduced. So, for example, in the case of the New York Rangers MSG Networks, which sort of went under some reorganization because it didn’t have the cash to pay its debt, the Rangers are taking an 18% haircut to their local TV rights. Other teams in the U.S. have taken similar cuts to their local TV rights …

“… These teams, with a combination of free TV rights and streaming, which is where a lot of these distribution is headed, may eventually make up the difference for what they’ve lost. There are some rights, but for now the Canadian teams have a big advantage because they’ve been getting actually huge increases in their local TV rights.”

For some teams, controlling the arena they play in can also be a key contributing factor to a high valuation. For example, the Bruins, who routinely collects healthy net ticket revenue, also benefit from non-NHL events at TD Garden.

“The Celtics, the NBA team that shares that arena, they’re just tenants,” Ozanian said. “They sort of have a lease agreement with the Bruins, so it’s the Bruins that get money from concerts and things like that at the building.”

A similar process could unfold for the Flyers, who will move into a new arena in 2030 alongside the Philadelphia 76ers. So, along with the Flyers recently pushing across price increases for the first time in a while, the stadium value and control will help boost the team’s valuation further.

But an extra caveat to the new arena is the sponsor name. Previously named Wells Fargo Center, the Flyers had limited themselves to other financial companies being sponsors in the building due to the name. Now named Xfinity Mobile Arena, there’s more potential for growth.

“… It’s opened up a huge space in financial services, which are a big category in terms of sponsoring an arena, either naming rights or various ads and sponsors on the inside of the building,” Ozanian said. “And those sponsorship revenues and advertising revenues at the arena are kept by the team…So having that new naming rights partner is another big advantage to the Flyers and a big reason why they’re in the top third of our list.”

On the flip side, the bottom five NHL teams in terms of valuations fare differently for multiple reasons. The San Jose Sharks are ranked No. 28 with a valuation of $1.55 billion. Lurking behind the Sharks are the No. 29 Winnipeg Jets ($1.46 billion), No. 30 Ottawa Senators ($1.44 billion), No. 31 Buffalo Sabres ($1.42 billion) and last-place Columbus Blue Jackets ($1.4 billion).

The Blue Jackets remained in last place but grew from their previous $1 billion valuation, while the Jets rose from No. 31 to 29. The biggest shakeup involved San Jose dropping from No. 25 last season ($1.4 billion) to the bottom five, as the new-look Utah Mammoth climbed to No. 27.

Why has that been the case for a franchise located in the Bay Area? For one, San Jose ranked second to last in the league last season in regular-season ticket revenue.

“The Sharks have just had a lot of trouble generating a consistent interest of fans last season,” Ozanian started. “… They only brought in $44 million for the whole season and regular season ticket row. The typical NHL team brings in somewhere around $80 million, so they’re doing about half of what the typical team does.”

But the Sharks have plenty of potential to bite its way up the list, including looking for a new owner, as Ozanian explained.

“I would have to say that the Sharks … are a, for lack of a better term, an underperforming team in the sense that they’re not in a huge market, but it’s a fairly high net worth market and they should be doing better,” Ozanian said. “They’re a team that I wouldn’t be shocked if somebody was eyeing a potential buyer and said, if I bought this team, I could increase the revenue significantly.

“They control the building. So there’s an opportunity there. Hence revenue not just from NHL games, but also from non-NHL events. They also recently extended their lease there, so they’ll have a buyer that would look at that and say, you know, I have controlled this arena for a while. So I have to say it’s an interesting situation that I think an investor would have to consider.”

2025 CNBC NHL franchise valuations: See how all 32 teams rank

2025 CNBC NHL franchise valuations: See how all 32 teams rank originally appeared on NBC Sports Philadelphia

The highest-valued NHL team still reigns in Canada.

The Toronto Maple Leafs remain No. 1 on CNBC’s list of NHL valuations for 2025 at $4.3 billion, a lead of $500 million over the second-highest team. It also is $2.1 billion above league average. Toronto in 2024 had a valuation of $3.8 billion and sat $1.89 billion above league average.

Trailing the Maple Leafs in the top three are the same two teams from 2024. The New York Rangers are second with a valuation of $3.8 billion, a $300 million increase. In third are the Montreal Canadiens, which also rose by $300 million to hold a $3.4 billion valuation.

There has been a slight shakeup in the top five, though. While the Los Angeles Kings remain No. 4 at $3.15 billion, the Edmonton Oilers ($3.1 billion) have bumped down the Boston Bruins ($3.05 billion) to seize the No. 5 spot.

Rounding out the top 10, in order, are the Chicago Blackhawks ($2.75 billion), Philadelphia Flyers ($2.6 billion), Washington Capitals ($2.5 billion) and Detroit Red Wings ($2.47 billion)

With the average NHL team now worth $2.2 billion, 15% more than last year, what’s behind the increase? CNBC senior sports reporter Michael Ozanian broke it down with the most important factor.

“The increase in values for NHL teams largely stems from their national media rights deal,” Ozanian said. “So, earlier this year, Rogers Communications, which has the national rights for National Hockey League games in Canada, they signed a new deal with the NHL that’s more than a 100% increase over their existing deal. And what analysts are telling me in the media space that sort of advise and consult for teams and leagues and networks, is that the next deal for the United States? The next national deal is likely also see a doubling in value.”

The national media deals are significant in hockey because the money involved are split evenly among the 32 teams. Whether a team is in Winnipeg or in New York, winning or losing, the revenue share is equal.

So, why do the Maple Leafs have a sizeable lead over the Rangers, who are located in the biggest U.S. market? Ozanian explained that it stems from the difference between national media revenue versus local TV rights.

“The local TV rights, particularly those rights on regional sports networks in the U.S., are under a lot of pressure,” Ozanian started. “They’re … being reduced. So, for example, in the case of the New York Rangers MSG Networks, which sort of went under some reorganization because it didn’t have the cash to pay its debt, the Rangers are taking an 18% haircut to their local TV rights. Other teams in the U.S. have taken similar cuts to their local TV rights …

“… These teams, with a combination of free TV rights and streaming, which is where a lot of these distribution is headed, may eventually make up the difference for what they’ve lost. There are some rights, but for now the Canadian teams have a big advantage because they’ve been getting actually huge increases in their local TV rights.”

For some teams, controlling the arena they play in can also be a key contributing factor to a high valuation. For example, the Bruins, who routinely collects healthy net ticket revenue, also benefit from non-NHL events at TD Garden.

“The Celtics, the NBA team that shares that arena, they’re just tenants,” Ozanian said. “They sort of have a lease agreement with the Bruins, so it’s the Bruins that get money from concerts and things like that at the building.”

A similar process could unfold for the Flyers, who will move into a new arena in 2030 alongside the Philadelphia 76ers. So, along with the Flyers recently pushing across price increases for the first time in a while, the stadium value and control will help boost the team’s valuation further.

But an extra caveat to the new arena is the sponsor name. Previously named Wells Fargo Center, the Flyers had limited themselves to other financial companies being sponsors in the building due to the name. Now named Xfinity Mobile Arena, there’s more potential for growth.

“… It’s opened up a huge space in financial services, which are a big category in terms of sponsoring an arena, either naming rights or various ads and sponsors on the inside of the building,” Ozanian said. “And those sponsorship revenues and advertising revenues at the arena are kept by the team…So having that new naming rights partner is another big advantage to the Flyers and a big reason why they’re in the top third of our list.”

On the flip side, the bottom five NHL teams in terms of valuations fare differently for multiple reasons. The San Jose Sharks are ranked No. 28 with a valuation of $1.55 billion. Lurking behind the Sharks are the No. 29 Winnipeg Jets ($1.46 billion), No. 30 Ottawa Senators ($1.44 billion), No. 31 Buffalo Sabres ($1.42 billion) and last-place Columbus Blue Jackets ($1.4 billion).

The Blue Jackets remained in last place but grew from their previous $1 billion valuation, while the Jets rose from No. 31 to 29. The biggest shakeup involved San Jose dropping from No. 25 last season ($1.4 billion) to the bottom five, as the new-look Utah Mammoth climbed to No. 27.

Why has that been the case for a franchise located in the Bay Area? For one, San Jose ranked second to last in the league last season in regular-season ticket revenue.

“The Sharks have just had a lot of trouble generating a consistent interest of fans last season,” Ozanian started. “… They only brought in $44 million for the whole season and regular season ticket row. The typical NHL team brings in somewhere around $80 million, so they’re doing about half of what the typical team does.”

But the Sharks have plenty of potential to bite its way up the list, including looking for a new owner, as Ozanian explained.

“I would have to say that the Sharks … are a, for lack of a better term, an underperforming team in the sense that they’re not in a huge market, but it’s a fairly high net worth market and they should be doing better,” Ozanian said. “They’re a team that I wouldn’t be shocked if somebody was eyeing a potential buyer and said, if I bought this team, I could increase the revenue significantly.

“They control the building. So there’s an opportunity there. Hence revenue not just from NHL games, but also from non-NHL events. They also recently extended their lease there, so they’ll have a buyer that would look at that and say, you know, I have controlled this arena for a while. So I have to say it’s an interesting situation that I think an investor would have to consider.”

Penguins' Injured Goaltender, Forward Full Participants In Practice

It appears a Pittsburgh Penguins' netminder - and one of their young forwards - is one step closer to his return to game action.

Goaltender Tristan Jarry - out since Nov. 4 with a lower-body injury - was a full participant in Penguins' practice on Monday, as was 22-year-old forward Ville Koivunen. Jarry took reps with the main squad - along with tandem partner Arturs Silovs - while Koivunen skated with the defensive group. 

Rookie Sergei Murashov - who is 1-1-1 with a .913 save percentage and 1.90 goals-against average - still participated in practice but was the third goaltender in the rotation. 

Jarry, 30, was off to a good start this season before his injury, as he is 5-2 with a shutout and a .911 save percentage. He has worked hard to rebound from a tough season in 2024-25, which included waivers, an AHL stint, and an .893 save percentage.

Koivunen got off to a slow start production-wise this season, and he ended up in the AHL for a short stint, where he produced four goals and 11 points in six games before getting the call back to the big club. He has just two points in 11 games with the Penguins so far, but he had started to build some momentum in his game prior to his injury.

With the Penguins severely injury-depleted right now - and with a 2-4-3 record in November - they'd welcome back any of their injured players as soon as possible.

Forwards Justin Brazeau, Rickard Rakell, and Noel Acciari also skated before practice, and previously injured defenseman Jack St. Ivany - along with rookie Harrison Brunicke, who was a healthy scratch for seven straight games - was sent to Wilkes-Barre/Scranton (WBS) for a conditioning stint.

'It's A Dream Come True': Penguins' Prospect Tristan Broz Grateful For Those Inolved In Journey To NHL'It's A Dream Come True': Penguins' Prospect Tristan Broz Grateful For Those Inolved In Journey To NHLWhen a media scrum formed around <a href="https://thehockeynews.com/nhl/pittsburgh-penguins">Pittsburgh Penguins</a>' forward prospect Tristan Broz - just <a href="https://thehockeynews.com/nhl/pittsburgh-penguins/latest-news/penguins-top-forward-prospect-recalled-from-ahl">recalled from Wilkes-Barre/Scranton (WBS) Monday morning</a> - after practice, something a bit unusual happened.

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Kings Rally Late Behind Clarke’s Power Play Winner to Stun Senators

Through two periods, the Kings looked stuck in purgatory. Their offense sagged, and every promising rush ended in a turnover. A switch flipped beginning in the third period when Los Angeles delivered in the clutch, something they’ve struggled to accomplish this season. 

Brandt Clarke delivered a power play goal, avoiding overtime to send the Senators packing in a gritty Kings 2-1 win over Ottawa

The win snapped a three-game losing streak for the Kings, where they looked awful, especially down the stretch in overtime games, failing to close out in the clutch, but today they showed up in late-game situations. 

Ugly Start by Both Teams

Ottawa controlled the game through the first two periods, outshooting Los Angeles and winning nearly 70% of its faceoffs. But the Kings survived thanks to their goaltending and defensive group that didn’t bend when needed to make a stop. 

Still, the Senators were in it all game when winger Fabian Zetterlund hit a big shot that went high in the air past the Kings' defenders and into the net in the third. This game felt like it would end the same way it always has for the Kings: in overtime, and they would lose consistently. 

Kings Close it Out

But, instead, the Kings got a wake-up call that they desperately needed and didn’t let the game go into an extra period. 

After the game-tying shot from the Senators, just a few minutes later, the Kings earned their chance to take the game away from Ottawa, who took a costly penalty. On the following play, Clarke, consistently becoming one of the Kings' best players this season, stepped into the middle of the ice and hammered a big shot through traffic to break the tie. 

The puck whistled past every Ottawa defender and gave the Kings their first lead of the night. 

From there, the King tightened up their defense in the final minutes of the game as Clarke’s goal held serve and fended off Ottawa’s final push. 

The performance wasn’t pretty for the Kings. The opening minutes of the game were flat and ugly. But, a win is a win, especially in a year where the Pacific Division is looking like a dog-fight. It was a big Monday night win for the Kings to secure a much-needed win to get back in the win column.

Up next, the Kings will travel to Anaheim on their one-game road stand to take on the Ducks at 1:00 p.m. EST. 

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'It's A Dream Come True': Penguins' Prospect Tristan Broz Grateful For Those Inolved In Journey To NHL

When a media scrum formed around Pittsburgh Penguins' forward prospect Tristan Broz - just recalled from Wilkes-Barre/Scranton (WBS) Monday morning - after practice, something a bit unusual happened.

Instead of waiting for a reporter to break the ice with a question, Broz took it upon himself to begin the makeshift press conference in front of a locker stall at UPMC Lemieux Sports Complex in Cranberry that now had his name above it. 

"Before we get started, I'd just like to thank a couple people, if that's alright," Broz said.

After some nods, he began, Oscars acceptance speech-style: 

"I'd like to thank, obviously, all my family and my parents, my grandparents. I'd like to thank all the coaches in my life... Bernie McBain, my old hockey coach. Greg May, high school at Blake. Pierre-Paul Lamoureux. Cary Eades at Fargo. David Carle, Tavis McMillan, 'Fergie' [Dallas Ferguson], Ryan Massa, Denver. All the coaches in Wilkes... Kirko [Kirk MacDonald], 'Lukes' [Nick Luuko], 'Bugsy' [Brad Malone], 'Brooksy' [Sheldon Brookbank]. All the boys down there and everyone that's helped me along the way.

"It takes a village to get here, so I'd like to thank all those people."

The Penguins' second-round pick (58th overall) in 2021 - humble as they come - was on the team bus back from Providence and in the middle of a card game with Owen Pickering and a few other WBS teammates when he missed the initial call from WBS GM Jason Spezza.

And - without the advice of his teammate and good friend - he may have put off reaching back out to his GM.

Penguins' Prospect Tristan Broz Almost Ignored Jason Spezza's Call To Share He'd Been Promoted - Community PostPenguins' Prospect Tristan Broz Almost Ignored Jason Spezza's Call To Share He'd Been Promoted - Community PostMonday was an exciting day for Pittsburgh Penguins' top forward prospect Tristan Broz, as he was recalled from Wilkes-Barre/Scranton (WBS) and will likely make his NHL debut Wednesday against the Buffalo Sabres.

"I was actually playing cards, and I missed Spezz's call," Broz said. "And I think I texted him something back like, 'Can I call you back in, like, 10 minutes?' Then I showed Picks, and he's like, 'What are you doing? Go call him back.' So I went back in the bathroom and called him."

And once Broz heard the news from Spezza, he said he fell to his knees, knowing his lifelong aspiration had been realized. 

"It's a dream come true," Broz said. "I mean, I've just been through so much to get here, and what a journey it's been. When Spezz told me, I dropped to my knees. I was like, this is... man, it's been a lot of emotion and a lot of hard work, and really, a lifelong commitment to getting better and loving the game to get here. So, it was really an emotional moment. Really special."

And he didn't wait long to tell his family, including his parents, who were emotional upon hearing the news.

"I think it made it probably more real, just seeing their reaction," Broz said. "It was really cool, you know? My mom was crying, my dad was just grinning ear to ear. They're so happy, and they've put so much into this emotionally, financially, just time commitment driving me to rinks. So, it's just as much their moment as it is mine, and yeah, they're super happy. It was really cool."

Penguins Loan Top Defensive Prospect Harrison Brunicke To AHLPenguins Loan Top Defensive Prospect Harrison Brunicke To AHLThe Pittsburgh Penguins are giving teenage top defensive prospect Harrison Brunicke a chance to reset at the AHL level with a conditioning loan.

In some ways, Broz's recall is something that has been anticipated for a while. The 23-year-old from River Falls, Wisc. was actually supposed to be called up at the end of the 2024-25 season, but a near-two-month bout with mononucleosis staved off those plans. 

So, Broz got back to work this season in training camp, where he thoroughly impressed and almost earned a roster spot. Even though it didn't ultimately work out the way he was hoping at the end of camp, he got back to work and produced eight goals and 13 points in 18 games as WBS's first-line center.

"I thought I had a really good camp and put myself in a really good [spot]. Thought I had a good chance to make it, and it didn't go my way," Broz said. "But that's how life works sometimes. You can't just quit. So, I just kept playing hockey and doing the thing I love, and kept working hard at, really, everything. I wouldn't say it was just one thing, but just be more consistent and just continue to get better at everything, learning game by game."

And he credits his teammates in WBS for his success this season and last, as the team is currently leading the Atlantic Division at 13-4-1 after a back-to-back sweep this past weekend.

"We got a really good team down there," Broz said. "I think our record speaks for itself down there with the boys. And I think playing with really good players throughout the year and playing a really good system. I thought just the way we play is a lot a of fun, always having the puck and stuff. So, I credit a lot to that."

And his new head coach was impressed by both Broz's training camp showing and by what he heard from reports, so he hopes the young centerman can continue to build on that. 

"I got really strong reports," coach Dan Muse said. "I think, when you go back, he had a strong training camp, too. Training camp matters. It matters a lot. He made a good impression, and he earned that during camp. He goes in there, and he goes down to Wilkes, and he follows it up.

"He's playing well on both sides of the puck. He's making plays. He's impacting the game offensively. We want him to jump in and continue on what he's doing."

It's Time For Penguins To Pull Trigger On Youth TalentIt's Time For Penguins To Pull Trigger On Youth TalentWith a <a href="https://thehockeynews.com/nhl/pittsburgh-penguins/latest-news/takeaways-penguins-lose-heartbreaker-to-seattle-kraken-fall-out-of-playoff-position">2-1 overtime loss to the Seattle Kraken</a> on Saturday, the <a href="https://thehockeynews.com/nhl/pittsburgh-penguins">Pittsburgh Penguins</a> officially fell out of a playoff position for the first time in the 2025-26 season.&nbsp;

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2025 CNBC NHL franchise valuations: See how all 32 teams rank

2025 CNBC NHL franchise valuations: See how all 32 teams rank originally appeared on NBC Sports Bay Area

The highest-valued NHL team still reigns in Canada.

The Toronto Maple Leafs remain No. 1 on CNBC’s list of NHL valuations for 2025 at $4.3 billion, a lead of $500 million over the second-highest team. It also is $2.1 billion above league average. Toronto in 2024 had a valuation of $3.8 billion and sat $1.89 billion above league average.

Trailing the Maple Leafs in the top three are the same two teams from 2024. The New York Rangers are second with a valuation of $3.8 billion, a $300 million increase. In third are the Montreal Canadiens, which also rose by $300 million to hold a $3.4 billion valuation.

There has been a slight shakeup in the top five, though. While the Los Angeles Kings remain No. 4 at $3.15 billion, the Edmonton Oilers ($3.1 billion) have bumped down the Boston Bruins ($3.05 billion) to seize the No. 5 spot.

Rounding out the top 10, in order, are the Chicago Blackhawks ($2.75 billion), Philadelphia Flyers ($2.6 billion), Washington Capitals ($2.5 billion) and Detroit Red Wings ($2.47 billion)

With the average NHL team now worth $2.2 billion, 15% more than last year, what’s behind the increase? CNBC senior sports reporter Michael Ozanian broke it down with the most important factor.

“The increase in values for NHL teams largely stems from their national media rights deal,” Ozanian said. “So, earlier this year, Rogers Communications, which has the national rights for National Hockey League games in Canada, they signed a new deal with the NHL that’s more than a 100% increase over their existing deal. And what analysts are telling me in the media space that sort of advise and consult for teams and leagues and networks, is that the next deal for the United States? The next national deal is likely also see a doubling in value.”

The national media deals are significant in hockey because the money involved are split evenly among the 32 teams. Whether a team is in Winnipeg or in New York, winning or losing, the revenue share is equal.

So, why do the Maple Leafs have a sizeable lead over the Rangers, who are located in the biggest U.S. market? Ozanian explained that it stems from the difference between national media revenue versus local TV rights.

“The local TV rights, particularly those rights on regional sports networks in the U.S., are under a lot of pressure,” Ozanian started. “They’re … being reduced. So, for example, in the case of the New York Rangers MSG Networks, which sort of went under some reorganization because it didn’t have the cash to pay its debt, the Rangers are taking an 18% haircut to their local TV rights. Other teams in the U.S. have taken similar cuts to their local TV rights …

“… These teams, with a combination of free TV rights and streaming, which is where a lot of these distribution is headed, may eventually make up the difference for what they’ve lost. There are some rights, but for now the Canadian teams have a big advantage because they’ve been getting actually huge increases in their local TV rights.”

For some teams, controlling the arena they play in can also be a key contributing factor to a high valuation. For example, the Bruins, who routinely collects healthy net ticket revenue, also benefit from non-NHL events at TD Garden.

“The Celtics, the NBA team that shares that arena, they’re just tenants,” Ozanian said. “They sort of have a lease agreement with the Bruins, so it’s the Bruins that get money from concerts and things like that at the building.”

A similar process could unfold for the Flyers, who will move into a new arena in 2030 alongside the Philadelphia 76ers. So, along with the Flyers recently pushing across price increases for the first time in a while, the stadium value and control will help boost the team’s valuation further.

But an extra caveat to the new arena is the sponsor name. Previously named Wells Fargo Center, the Flyers had limited themselves to other financial companies being sponsors in the building due to the name. Now named Xfinity Mobile Arena, there’s more potential for growth.

“… It’s opened up a huge space in financial services, which are a big category in terms of sponsoring an arena, either naming rights or various ads and sponsors on the inside of the building,” Ozanian said. “And those sponsorship revenues and advertising revenues at the arena are kept by the team…So having that new naming rights partner is another big advantage to the Flyers and a big reason why they’re in the top third of our list.”

On the flip side, the bottom five NHL teams in terms of valuations fare differently for multiple reasons. The San Jose Sharks are ranked No. 28 with a valuation of $1.55 billion. Lurking behind the Sharks are the No. 29 Winnipeg Jets ($1.46 billion), No. 30 Ottawa Senators ($1.44 billion), No. 31 Buffalo Sabres ($1.42 billion) and last-place Columbus Blue Jackets ($1.4 billion).

The Blue Jackets remained in last place but grew from their previous $1 billion valuation, while the Jets rose from No. 31 to 29. The biggest shakeup involved San Jose dropping from No. 25 last season ($1.4 billion) to the bottom five, as the new-look Utah Mammoth climbed to No. 27.

Why has that been the case for a franchise located in the Bay Area? For one, San Jose ranked second to last in the league last season in regular-season ticket revenue.

“The Sharks have just had a lot of trouble generating a consistent interest of fans last season,” Ozanian started. “… They only brought in $44 million for the whole season and regular season ticket row. The typical NHL team brings in somewhere around $80 million, so they’re doing about half of what the typical team does.”

But the Sharks have plenty of potential to bite its way up the list, including looking for a new owner, as Ozanian explained.

“I would have to say that the Sharks … are a, for lack of a better term, an underperforming team in the sense that they’re not in a huge market, but it’s a fairly high net worth market and they should be doing better,” Ozanian said. “They’re a team that I wouldn’t be shocked if somebody was eyeing a potential buyer and said, if I bought this team, I could increase the revenue significantly.

“They control the building. So there’s an opportunity there. Hence revenue not just from NHL games, but also from non-NHL events. They also recently extended their lease there, so they’ll have a buyer that would look at that and say, you know, I have controlled this arena for a while. So I have to say it’s an interesting situation that I think an investor would have to consider.”

Recap: Nashville Predators blown out by Florida Panthers for 8th loss in 9 games

For a second straight game, the Nashville Predators were behind the ball less than 20 seconds into a game and could not recover.

Sacrificing a goal 11 seconds into the game was just the beginning as the Predators were blown out by the Florida Panthers, 8-3, on Monday at Bridgestone Arena. 

It's the most goals the Predators have allowed in a game since they lost to the Columbus Blue Jackets, 8-4, on April 1, 2025, and it's their eighth loss in nine games. 

 Similar to their loss to the Avalanche on Saturday, the goal scored in the first minute of the game came off a dump into the zone and the opponent loading up the left side of the ice. 

Carter Verhaeghe got to the puck first after it was dumped into the Predators' zone off the face-off and was able to find A.J. Greer on the left side of the slot for a quick shot and score.

On the second goal, Sam Reinhart shoved Nick Perbix off the puck behind the net before moving it to Uvis Balinskis and then Evan Rodrigues for the goal. 

Filip Forsberg and Fedor Svechkov both scored in the first period to tie the game at two. It was Svechkov's first goal of the season and just his second point of the year. 

Jesper Boqvist scored 59 seconds later to give the lead back to the Panthers and Sam Bennett scored off a rebound to restore Florida's two-goal lead. All in all, there were six goals in the first 20 minutes of the game. 

Nov 24, 2025; Nashville, Tennessee, USA; Florida Panthers left wing Brad Marchand (63) and Nashville Predators defenseman Roman Josi (59) battle for the puck during the second period at Bridgestone Arena. Mandatory Credit: Steve Roberts-Imagn Images

In the second period, Gustav Forsling scored a shot from the point to bump the Panthers' lead to 5-2. Goalie Juuse Saros was pulled for Justus Annunen after allowing five goals on 15 shots. 

Nick Blankenburg responded on the power play two minutes into the third period to cut the Panthers' lead back down to two and possibly start a Nashville rally. It was just the 11th Predators power play goal this season 

The comeback effort was silenced as Florida scored three unanswered goals, walking away with a whopping 8-3 victory. 

Nashville had a wide 39-26 shot advantage and won 57.1% of its face-offs. It had also converted on 1-of-3 power play opportunities and was in the box just twice. Florida also gave away the puck 15 times and the Predators outhit the Panthers, 25-19. 

Florida also had just four shots in the second period and seven in the third period, meaning that it scored four goals on 11 shots in the 40-minute stretch. 

Statistically, Nashville was the better team, but its defense faltered at every turn. This was the second time this season that Saros had been pulled and Annunen is still winless on the year. 

Saros made 11 saves on 16 shots. Annunen had seven saves on 10 shots. 

The Predators have been outscored 15-3 in their last three games, and have not won at home since Nov. 1. If Nashville doesn't defeat the Winnipeg Jets on Friday, it'll finish the month of November 1-5-1 at Bridgestone Arena. 

It faces two road challenges next in the Detroit Red Wings (Wednesday) and the Chicago Blackhawks (Friday). Detroit is second in the Atlantic Division and Chicago has a surprising start to the year at 10-8-4. 

The Predators need some momentum, as they are ranked dead last in the NHL with 16 points in 22 games. 

Up next: Nashville Predators (6-12-4) at Detroit Red Wings (13-9-1) on Wednesday, Nov. 26 at Little Cesars Arena at 6 p.m. CST