TORONTO — The weakened Canadian dollar is part of the reason why, for the first time in 11 years, an American-based NHL team is ranked as the most valuable franchise in the National Hockey League.
But the depreciating Canadian loonie is not to blame for the Toronto Maple Leafs falling from first to third (down 12%) in Forbes magazine’s annual value rankings. Rather, it’s because of losing.
The Leafs, who had held top spot since 2006 (rankings were not done in '05), "have been undone by bad hockey" and have "only been in the playoffs once since 2006 and the team’s 13-year sellout streak at the Air Canada Centre was broken last March.