DETROIT, MI - OCTOBER 5: The Detroit Red Wings play the Minnesota Wild during the first period at Little Caesars Arena on October 5, 2017 in Detroit, Michigan. (Photo by Duane Burleson/Getty Images)
(WXYZ) - The Detroit Red Wings are one of the original six members of the National Hockey League and are also one of the most valuable franchises in the league, according to a new report from Forbes.
According to Forbes, the Red Wings are the ninth most valuable franchise in the NHL with a value of $700 million. That's a 14 percent increase in value from 2016.
Forbes also said the team has a revenue of $141 million with a $5.4 million operating income.
The New York Rangers are the most valuable franchise in the league for the third straight year, according to Forbes. They are worth $1.5 billion which is up 20 percent from last year.
Coming in at second is the Toronto Maple Leafs with a $1.4 billion value, just beating out the Montreal Canadiens who are worth $1.25 billion.
The Chicago Blackhawks and Boston Bruins round out the top five.
Detroit is also worth more than the rival Pittsburgh Penguins, who come in at No. 10 with a $650 million value.