1. Toronto Maple Leafs $332 (in millions)
2. New York Rangers $306
3. Detroit Red Wings $258
4. Dallas Stars $248
5. Philadelphia Flyers $246
6. Boston Bruins $235
7. Montreal Canadiens $230
8. Colorado Avalanche $219
9. Los Angeles Kings $205
10. Vancouver Canucks $192
11. Tampa Bay Lightning $172
12. Chicago Blackhawks $168
13. Minnesota Wild $163
14. Ottawa Senators $159
15. Anaheim Ducks $157
16. St Louis Blues $150
17. Buffalo Sabres $149
18. New Jersey Devils $148
19. Edmonton Oilers $146
20. San Jose Sharks $145
21. Carolina Hurricanes $144
22. Phoenix Coyotes $143
23. Florida Panthers $142
24. New York Islanders $140
25. Columbus Blue Jackets $139
26. Calgary Flames $135
27. Nashville Predators $134
28. Pittsburgh Penguins $133
29. Atlanta Thrashers $128
30. Washington Capitals $127
Interestingly, the spread between the bottom 15 team ($23 million) is less than the spread between the top 2 valued teams ($26 million).
It was announced today that Tampa Bay has been sold subject to league approval. No sale price has been made public but it will be interesting to see if it sold for the Forbes valuation figure. The franchise price was $115 million and the owner has lost a total of $60 million so the Forbes value would allow the seller to walk away at about the break even point.
Jim Basillie's bid for the Predators was higher than the value of all but 5 or 6 teams and almost double the franchise's actual value. Still the current bid is $193 million which is more than the value of 20 other franchises and about $60 million above the Forbes value.
Edit: The price paid for Tampa Bay has been made public and it is $206 million which is over $30 million above the Forbes value. So despite the fact that few teams make money (and the profitable teams are never up for sale), there are buyers willing to over pay for the right to own a NHL team.