Three years ago, the Golden Knights were just getting their name and most of the world still believed the idea of hockey in Las Vegas was a boondoggle.
Three days ago, Forbes released its NHL franchise valuation list and the Vegas Golden Knights came in 13th place with a current value of $580 million.
On June 22nd, 2016, The Creator agreed to pay $500 million for the NHL’s 31st franchise. It was widely considered an overpay but not only did he not believe that (he once told me it would be worth a billion eventually), he also didn’t seem to care.
Not even four years later, his investment is up 16% and the business of hockey is absolutely booming the Vegas valley.
Forbes values the Knights at $580 million, on $167 million in revenue over the past year and $33 million in operating income, the tenth-highest among the league’s 31 teams. –Christina Settimi,
They continue to dominate TV ratings. The team has more than 100 different sponsors. And it’s impossible to drive a mile in this city without seeing a Golden Knights license plate.
The Golden Knights were listed at exactly $500 million in the first year they appeared on the Forbes list. They went up to $575 million last year, and now $580 million this season.
Vegas is $20 million behind 12th place and more than a billion dollars away from the New York Rangers at the top of the list.
Still a ways to go up that list, but I wouldn’t put it past The Creator to be in the top 10 before you know it.