The Edmonton Oilers ranked among the most financially successful sports organizations last year, despite being valued lower than numerous other franchises, according to Forbes magazine’s yearly assessment.
Last year, the Oilers’ operational revenue was projected at approximately $341.1 million ($244 million USD), placing them in a tie with the NFL’s Los Angeles Rams for the third spot on the publication’s list of the twenty most lucrative sports teams in 2025.
Mayor Andrew Knack conveyed to CBC News on Saturday, “Initially, it could appear unexpected. However, for those residing here, it’s evident that it’s hardly astonishing, as our essence lies in championing what we hold dear.” He highlighted Edmonton’s distinction as the most northerly city on the continent boasting over one million inhabitants.
“The Oilers are integral to our very being,” Knack remarked. “Yet, it also illustrates that this passion extends beyond just the Oilers; it reflects our city’s embrace of athletics, arts, and culture. Witnessing this is truly exhilarating.”
OEG Inc., the entity owning the ice hockey franchise, did not furnish a statement to CBC News.
Each year, Forbes, a distinguished American business publication, conducts an assessment of the fiscal health and market worth of leading professional athletic organizations globally, spanning both male and female leagues. Their evaluative process incorporates insights from team leadership, financial experts in sports, league advisors, executives in the sponsorship and media sectors, and publicly accessible records like arena rental contracts and credit assessments.
The profitability metrics, as stated by the methodology, represent Forbes’ calculation of a team’s earnings prior to accounting for interest, taxes, depreciation, and amortization.
Furthermore, team valuations, it specifies, denote enterprise values—comprising equity combined with net liabilities—and the financial aspects of an arena, like income derived from live events; however, they do not encompass the intrinsic property value of the facility. These enterprise values also factor in the worth of media rights fees for local sports channels under the team’s ownership.
The projected operational income for the Oilers trailed that of the NFL’s Dallas Cowboys and the NBA’s Golden State Warriors, who secured the first and second positions, respectively, on both the Forbes publication’s rankings for profitability and overall worth.
Edmonton’s financial performance surpassed every other NHL club, including the Toronto Maple Leafs, which Forbes designates as the most valuable organization within the league.
Over the last twenty-five years, its projected worth, currently at $3.2 billion USD, has seen a substantial increase from an initial $77 million USD.
However, Edmonton’s calculated valuation placed it fourth among fellow NHL franchises and sixty-fourth across all major sports, consequently leading to the Oilers — along with the remainder of the NHL — being excluded from the publication’s list of the fifty most valuable teams.
The NFL’s Rams, which Forbes projected to be equally as lucrative as the Oilers in 2025, additionally secured the ranking as the third most valuable athletic organization last year, commanding a worth of $10.5 billion USD.
Moshe Lander, an economist residing in Alberta and affiliated with Concordia University in Montreal, challenges the veracity of Forbes’ financial data, citing concerns with certain sources delineated in its analytical framework.
Lander acknowledged the Oilers might legitimately rank among the top third of NHL teams, particularly considering their recent Stanley Cup campaigns over the last couple of seasons. Nevertheless, he expressed skepticism that the Oilers franchise could outperform NFL teams in terms of profitability, especially given the significantly higher salaries paid in the NFL compared to the NHL.
“At best, it’s merely a projection,” stated Lander, who openly identifies as a supporter of the Calgary Flames.
“The general impression might be that the Oilers are performing better than they have in a considerable period, yet I’m not entirely convinced that [the publication’s] figures are especially precise,” he elaborated.
He further commented that the team’s overall valuation is probably a more precise measurement, and from that perspective, Forbes’ assessment appears credible.
Fundamentally, these numerical representations exert only a minimal economic influence on the broader populace, beyond fostering a sense of community pride and, perhaps, a temporary increase in output and more relaxed consumer expenditure when the Oilers are performing well, Lander observed.
The Edmonton Oilers have secured a spot among Forbes’ top 20 most financially successful sports organizations for 2026, attaining the third global position. As elaborated by CBC’s Nicole Healey, this is thrilling news for the metropolis. Nevertheless, an economist posits that the Oilers may not genuinely warrant a place in the top three.
He contended that, should Forbes’ projections for operational earnings prove correct, supporters of the Oilers and Edmonton’s taxpayers would be justified in feeling discontent with the team’s proprietors, considering the steep costs of tickets and merchandise, alongside the substantial public funds allocated to Rogers Place and its surrounding urban projects.
This viewpoint resonated with Alex Gavinchuk, an Oilers enthusiast.
“We are overcharged, so it’s understandable,” Gavinchuk conveyed to CBC News on Sunday. “The pricing seems somewhat excessive when contrasted with other venues.”
Additional supporters informed CBC News that they found the team’s placement on the Forbes list unsurprising, attributing it to the team’s devoted fan following and their vibrant collective spirit on match days.
