Edmonton Oilers ranked the most profitable team in the NHL: Forbes

With an estimated value of US$3.2 billion and bringing in roughly US$244 million per year in operating income, the Edmonton Oilers were recently

ranked

as the most profitable team in the NHL on the Forbes World’s Most Profitable Sports Teams 2026 list and the third-most profitable sports team in the world.

Edmonton Mayor Andrew Knack said he felt equally surprised and not-so-surprised at the team’s ranking. But when he considered what he sees around the city, Knack thought differently.

“This (team) is in our blood, in our city, right? This is foundational to our city. And no matter who you are, no matter whether you’re a sports fan or not, the Oilers are part of our identity in the city, and so, that’s why, I guess I’m a little less surprised hearing that number,” Knack said.

Heather Thomson, Edmonton Chamber of Commerce’s vice-president of economy and engagement, shared Knack’s perspective.

“It’s not that surprising to me, given the fanfare of what Edmonton produces in terms of the loyalty of its fan base,” Thomson said.

Postmedia Edmonton attempted multiple times to contact the Oilers Entertainment Group for comment but did not receive a reply before deadline.

The Oilers placement on the list was a step up in the standings from last year, and is especially impressive when you consider the competition from top teams in the NFL, MLB, NBA and other big franchises out of Europe in soccer and Formula 1 racing. The team’s third-place ranking tied the Los Angeles Rams NFL team with US$244 million operating income apiece, though the football team is valued at more than three times that of the Oilers.

Whether the team has a dollar value attached to it, Knack said, the team’s value to the city is reflected in the way the city embraces the team.

“You know how much work goes into professional sports. And so to see us that high in the world is, I think, a testament to how the city does come together and embrace it, and we recognize the importance and the value of that organization, of that team, to our city

The Forbes list estimates a team’s operating income, not its total value. Operating income is a team’s earnings before interest, taxes, depreciation and amortization.

According to Forbes, the estimates are based on information gathered from publicly available data, like stadium and lease agreements and credit rating reports, as well as from team executives and other insiders.

Thomson said that some of the sources for the operating income set the team apart.

“The spend per ticket we’ve always known is quite high. The merchandise retail is obviously one of the best in the league. It’s the same way that universities and institutions have such strong brands, and people are so proud to wear that brand and showcase that brand. The Edmonton Oilers are a legacy brand,” Thomson said.

Another aspect that can’t be overlooked is the impact of Oilers captain, Connor McDavid, on the Oilers brand, she said.

“When you have someone as I’ll say, formidable, as Connor McDavid, you inherently are going to have trust, and that trust with the brand — and a long standing brand at that — when you have Wayne Gretzky, and you’ve had a lot of greats, the brand of Connor McDavid is just as valuable as the Oilers,” Thomson said.

Ward papastew Coun. Michael Janz said Oilers owner Daryl Katz ought to thank Edmontonians for the team’s placement on the list.

“He couldn’t have done it without the contributions of Edmonton and Alberta taxpayers,” Janz said.

“Property taxes are already paying debt servicing costs of $33 million a year towards the $402 million of debt of (Rogers Place) as of Dec. 31, 2024. You know, the taxpayer pays the costs, the business owner receives the profits. So, I hope Mr. Katz sends a generous thank-you card to Edmontonians,” Janz said, pointing to data cited on his

website

last year.

Knack said he differentiates between the team and the larger organization.

“As a councillor, I didn’t support the Event Park piece because of wanting to make sure we’re prioritizing our limited resources in the areas that help provide the most public impact,” Knack said. However, he added the discussion around the Event Park last year “had nothing to do with the Oilers or what that team means.”

Alberta Sports Minister Andrew Boitchenko congratulated the Oilers for its spot on the list and highlighted the positive impacts of sports tourism on local businesses throughout the province.

“It’s remarkable that the northernmost professional sports city, with just over a million people, has built one of the most successful sports organizations in the world. The talent on the ice, the passion of the fans, and our world-class facilities truly set Alberta apart,” Boitchenko said in a statement.

Scott

Fellnermayr, 

NAIT Ooks men’s hockey coach, said he was “shocked” to see where the team landed on the list, and also joked that the Oilers were “stealing” NAIT’s fans. Fellnermayr felt the team’s consecutive strong performances in the playoffs have helped grow the game even more in the city, which infiltrates the sport at all levels. He said that the team has also fostered a shared identity in the city that he sees in his office regularly.

“You look at everybody’s wearing jerseys and everybody’s a fan, and around my office there’s basketball, volleyball, soccer, every sport here at NAIT, and everybody is a fan of different things and different sports and stuff, but the one collective thing is everybody cares about the Oilers,” Fellnermayr said.

zdelaney@postmedia.com

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