Forbes’ Maggie McGrath sits down with NHL Chief Operating Officer Stephen McArdle to unpack the league’s rapidly accelerating financial momentum. With average franchise valuations reaching $2.2 billion and all teams reporting profitability last season, McArdle explains why he believes the NHL remains a highly attractive—yet undervalued—target for institutional capital.

00:00 Assessing The League’s Valuations
02:03 Pitching the Upside to Institutional Capital
03:27 Team Profitability and Live Demand
05:35 Navigating Canadian Media Rights and Disruption
07:18 Analyzing Success in New Markets
10:39 Future Growth Momentum

Read the full story on Forbes: https://www.forbes.com/sites/forbesvideo/2025/11/25/the-performance-layer/

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