Utah Sees Massive Jump in Franchise Value

The Utah Hockey Club have pulled themselves out of the basement in more ways than one.

Nick Horwat | Oct 30, 2024

Oct 19, 2024; Salt Lake City, Utah, USA; Utah Hockey Club celebrate 2-1 win over Boston Bruins at Delta Center. Mandatory Credit: Harry Caston-Imagn Images / Harry Caston-Imagn Images

It didn’t take long for the Utah Hockey Club to make an impact on the NHL after their relocation from the Arizona Coyotes. Not only has a sense of stability in Utah revitalized the team on the ice, but the organization as a whole has seen a huge jump in valuation.

In Sportico’s most recent NHL valuation ranking, Utah finished 28th, but had by far the biggest increase in overall franchise value. Jumping from $675 million to $1.2 billion, Utah saw a 78% increase.

2024 is the first time every NHL team is being valuated over $1 billion, but no team came close to Utah’s 78% increase. The next closest team to overall increase was the Edmonton Oilers at 51%.

When they were still in Arizona, the Coyotes were routinely the lowest-ranked franchise in the NHL. The team failed to find success on the ice and the value of the organization followed.

Technically considered an expansion team in the eyes on the NHL, owner Ryan Smith purchased the hockey assets of the Coyotes and moved them to Utah. The Coyotes had suspended operations following their final game, and the NHL handed the keys to Smith.

Smith is also the owner of the NBA’s Utah Jazz and MLS’s Real Salt Lake. The Utah Hockey Club shares their home arena, the Delta Center, with the Jazz.

The Delta Center isn’t fully outfitted for an NHL team, but plans are to renovate the venue to perfectly house the league’s newest team. At the moment, there are a ton of obstructed view seats, but the fans have still been packing the arena.

Utah has already played in 10 games and hold a 4-4-2 record. Not much is expected of the team in their first season, by way of a playoff push, but they got off to a hot start by winning each of their first three games.

As the team gets settled in, a name and mascot will soon be revealed, and more success is sure to follow. The Utah Hockey Club has a chance to become a powerhouse in the NHL. They’ve already been pulled out of the basement financially, now they can build a strong on-ice product to help grow that price tag.

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Published Oct 30, 2024

NICK HORWAT