The St. Louis Blues are apparently moving up in the financial world. A recent article on Forbes ranked the Blues 17th on a list of the NHL’s most valuable organizations. The article and the evaluation, both of which need to be taken with heaping servings of salt, suggest the Blues have increased their overall operating income and revenue, boosting their total value to a reported $450 million. That’s a big improvement over their $310 million evaluation last year.
If you’re curious, the New York Rangers claimed the top spot with an estimated value of $1.5 billion. The Arizona Coyotes are in a familiar spot at the bottom with a $300 million evaluation. Overall, NHL team values are up 15% compared to last year.
Looking back, Tom Stillman became Chairman and Governor of the Blues back in 2012 when the Blues were worth an estimated value of $130 million according to Forbes. In the span of roughly five years, he has helped the franchise grow both on the ice and off the ice financially. His positive impact on the team can’t be overstated or oversimplified.
Some may point to the increased evaluation as a reason why the city’s comptroller balked at a $64 million financing agreement for arena improvements. That issue, which sounds like it’s finally resolved, was always pretty silly as the Scottrade Center hosts far more events than just Blues games. Maintaining and improving one of the city’s prime athletic/entertainment destinations benefits more than just the Blues and hockey fans.