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Leafs ranked most valuable NHL team

The Toronto Maple Leafs may not have won the Stanley Cup in more than 40 years, but a new survey has found it’s the most valuable franchise in the NHL.

Forbes magazine says the team is worth $521 million US, more than double the $240-million average.

The New York Rangers ranked second at $507 million and the Montreal Canadiens is third at $445 million.

The magazine said the operating profit of those three teams is more than that of the rest of the teams combined, but warned rising salaries are eroding the sport’s increased revenue.

Toronto hasn’t made the playoffs since 2004.

Here’s the ranking for all 30 NHL teams:

1) Toronto Maple Leafs $521 million
2) New York Rangers $507 million
3) Montreal Canadiens $445 million
4) Detroit Red Wings $336 million
5) Boston Bruins $325 million
6) Chicago Blackhawks $306 million
7) Vancouver Canucks $300 million
8) Philadelphia Flyers $290 million
9) Pittsburgh Penguins $264 million
10) Los Angeles Kings $232 million
11) Dallas Stars $230 million
12) Washington Capitals $225 million
13) Calgary Flames $220 million
14) Minnesota Wild $213 million
15) Edmonton Oilers $212 million
16) San Jose Sharks $211 million
17) Ottawa Senators $201 million
18) Colorado Avalanche $198 million
19) Anaheim Ducks $184 million
20) New Jersey Devils $181 million
21) Tampa Bay Lightning $174 million
22) Buffalo Sabres $173 million
23) Carolina Hurricanes $169 million
24) Winnipeg Jets $164 million
25) Nashville Predators $163 million
26) Florida Panthers $162 million
27) St. Louis Blues $157 million
28) Columbus Blue Jackets $152 million
29) New York Islanders $149 million
30) Phoenix Coyotes $134 million