Forbes Magazine has released their annual evaluation of the financial value of the National Hockey League franchises and there is some surprisingly good news for the Ottawa Senators.
Despite a tumultuous off season and rumours of financial instability, including a suggestion by Owner Eugene Melnyk that he continues to pay significant sums out of pocket to keep the team afloat, Forbes is suggesting that the value of the Senators is actually up significantly. While you can never put too much stock in the validity of these numbers, it’s somewhat surprising considering the rumours around the team the past year or so.
The report has the Senators current worth set at $380 million with $83 million in revenue last year and an operation income of $6 million. Those numbers have the Sens valued at 15th in the entire NHL. Like many teams in the NHL, Ottawa has seen a significant boost in their value over the last year. The report also adds the following.
The Senators obtained $150 million of financing prior to the 2013-14 NHL season, of which roughly $130 million was for the purposes of refinancing a previous loan.
You can read the full release from Forbes Magazine here.
