NHL franchises list, ranked in order of value. The most valuable NHL franchises are based on their current arena deals as of 2010. Professional hockey team valuations on average have been mostly flat in recent years due mainly to macroeconomic issues. If you've wondered what are the most valuable NHL teams, the answer lies heavily in their earnings. The most profitable NHL teams are not always the highest valued in any given year, but for the most part in 2010 profits corresponded with value -- while slightly more than half the teams in the NHL lost money, the top 10 on this list all were profitable.