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Forbes: Toronto Maple Leafs no longer NHL's most valuable franchise

They're valued at $1.15 billion, which is a lot! Just... not the most.

James Guillory-USA TODAY Sports

Dark days for the Toronto Maple Leafs, my friends.

Well, not really. Ignoring their on-ice record and issues (because that's kind of what happens when you're rebuilding a team), things are still pretty fine in Leafs land. With a $1.15 billion evaluation from Forbes, they're one of the most sound NHL teams when it comes to the business side of things.

Except... they aren't at the top of the list anymore. It's the first time sine 2006 they aren't.

Ahead of the Leafs are now the New York Rangers ($1.2 billion) and Montreal Canadiens ($1.18 billion). So they aren't even the most valuable Canadian franchise anymore; that honour now goes to Montreal, as the Leafs hold second place.

They're still well ahead of other teams, though: the Chicago Blackhawks are fourth overall at $0.93 billion, and the Vancouver Canucks third out of Canadian franchises at $0.75 billion.

Forbes' explanation for the drop? Well:

This two-spot drop in the rankings is driven by several factors including: the Maple Leafs have only been in the playoffs once since 2006, and the team’s 13-year sellout streak at the Air Canada Centre was broken last March.

So hey, as long as the rebuild goes as planned this time, they should get back up there. It's still Toronto, and it's hockey. When on-ice success returns, off-ice success will almost certainly improve. After all, who doesn't like a winner?