Canes ranked last in Forbes NHL valuations

Carolina Hurricanes owner Peter Karmanos Jr. probably won’t like Forbes annual list of NHL team valuations that was released Wednesday.

The Hurricanes were ranked 30th and last in the league at $230 million in the Forbes 2016 valuations.

The Forbes report said that the team’s annual revenue was $99 million, with a loss of $15 million in terms of operating income.

The Hurricanes ranked behind Arizona (28th at $240 million) and the Florida Panthers (29th at $235 million). Both the Coyotes and Panthers increased in value in the past year and moved past the Canes, who also had a $230 million valuation in the Forbes 2015 report and were 28th.

Karmanos has consistently claimed the value of the Hurricanes was much higher than the Forbes valuations. He has sought investors in the team, although Canes president Don Waddell said recently that Karmanos no longer is actively pursuing a buyer for the franchise.

The New York Rangers and Montreal Canadiens ranked 1-2, respectively, on the Forbes list. The Rangers’ valuation was $1.25 billion, with revenue of $219 million and operating income of $74.5 million.

Forbes said the league’s average operating income was $15 million.

This story was originally published November 30, 2016 at 2:44 PM with the headline "Canes ranked last in Forbes NHL valuations."