Michael Ozanian and Kurt Badenhausen have compiled their annual valuations of all 30 franchises in the National Hockey League for Forbes magazine, with the Toronto Maple Leafs ranked as the #1 most valuable at $448 million, a 9 percent increase in value from the year prior while posting a mind-boggling $66.4 million in operating income, a measure of profit. As reported by Forbes: The 2007-08 season was the National Hockey League's most successful since Forbes began tracking team values 10 years ago. Fueled by higher ticket prices and a stronger Canadian dollar, revenue increased 13%, to an average of $92 million per team, while operating income (earnings before interest, taxes, depreciation and amortization) rose 48%, to $4.7 million per team. A stronger loonie helps teams north of the border, because they take in revenue in Canadian dollars, but pay their players in U.S. currency. Last season the value of the Canadian dollar increased 15% relative to the U.S. dollar. The average team value rose 10% during the past year, to $220 million. Five of the six Canadian teams —Montreal Canadiens, Vancouver Canucks, Ottawa Senators, Calgary Flames and Edmonton Oilers— rose in value more than the league average. Of the 30 franchises, Forbes reports that twelve posted operating losses – all Stateside – including the Predators (-$1.3 mil), Flyers (-$1.8 mil), Bruins (-$3 mil), Thrashers (-$6.1 mil), Capitals (-$6.9 mil), Blue Jackets (-$7.1 mil), Blues (-$8.6 mil), Islanders (-$8.8 mil), Sabres (-$8.9 mil), Panthers (-$9.4 mil), Coyotes (-$9.7 mil), and Hurricanes (-$11.5 mil). OTHER NEWS ACROSS THE BUSINESS OF SPORTS NETWORK Game 5.5 Trumps Obama in Philly and Tampa/St. Petersburg - The Biz of Baseball 2008 World Series Least Viewed in History - The Biz of Baseball Manny Ramirez, Jason Varitek, Mark Teixeira, 62 Others File for Free Agency - The Biz of Baseball 2008 MLB Postseason: The Good, the Bad, and the Ugly - The Biz of Baseball Fathead Makes Commemorative Logo of 2008 World Series Champions Philadelphia Phillies Available - The Biz of Baseball When All the Scoring Will be in the Infield, Eh?- The Biz of Baseball Get Dripping Wet Again: MLB.com to Reshow Beginning of Game 5 - The Biz of Baseball Transcript: Interview with Joe Maddon - The Biz of Baseball World Series Ratings 20 Percent Below Worst Ever - The Biz of Baseball BREAKING: Game 5 of World Series Postponed Due to Weather - The Biz of BaseballRain Maker: Weather in Philadelphia Wreaks Havoc on World Series Ratings - The Biz of Baseball Albert Pujols Named 2008 Roberto Clemente Award Recipient - The Biz of Baseball Inside the Numbers: Ranking the 30 Clubs by Marginal Payroll/Marginal Wins - The Biz of Baseball Selig Hopes to Shorten Days Off Between Games in ’09 Postseason - The Biz of Baseball Verizon Has a COW at Tropicana Field - The Biz of Baseball John Blake Leaves Red Sox to Return to Texas Rangers - The Biz of Baseball Joe Maddon and Fredi Gonzalez Win Sporting News Managers of 2008 - The Biz of Baseball Mariners Hire Jack Zduriencik as Exec VP and GM of Baseball Ops for Seattle Mariners - The Biz of Baseball See It: McCain and Obama Help Open World Series on FOX - The Biz of Baseball Long Rays Forecast: FSN Florida Signs 8-Year Extension with Tampa Bay - The Biz of Baseball Bob Costas May Become Part of MLB Network Broadcast Stable - The Biz of Baseball Cardinals to Raise Season Ticket Prices in '09 - The Biz of Baseball adidas Unveils Limited Edition Garnett Signature Commander 2008 Champions Shoe - The Biz of Basketball Chris Paul and Deron Williams on the Cover of ESPN The Magazine’s NBA Preview Issue - The Biz of Basketball Blazers Exercise Options for Roy, Aldridge, Rodriguez, and Oden - The Biz of Basketball adidas Launches “NBA Tested. Brotherhood Ready” Campaign - The Biz of Basketball Coach K Renews Agreement to Host Show on Sirius XM Radio - The Biz of Basketball Steven Jackson is a Fathead- The Biz of Football Super Bowl Ticket Prices Reach $1,000- The Biz of Football ESPN Monday Night Football Audience Up 15% for Year - The Biz of Football Maury Brown is the Founder and President of the Business of Sports Network, which includes The Biz of Baseball, The Biz of Football, The Biz of Basketball and The Biz of Hockey. He is contributor to Baseball Prospectus, and is available as a freelance writer.Brown's full bio is here. He looks forward to your comments via email and can be contacted through the Business of Sports Network.Don't forget to register and log in on The Biz of Hockey site to get updates via your in-box, and see information only logged in members can see