Oilers’ Franchise Has Come A Long Way Financially

Edmonton Oilers fans, you have even more of a reason to brag about your team. Forbes.com just released its list of the most profitable sports teams in 2026, and the Oilers are tied for third with an operating income of $244 million and a value of $3.2 billion. That’s the highest ranking position of any team in the NHL.

The Toronto Maple Leafs are the next highest hockey franchise on the overall list at ninth with an operating income of $191 million and a value of $4.4 billion. Being this high on this list for the Oilers is impressive considering Forbes takes into account all teams from the NFL, NBA, MLB, Formula 1 and Premier League Football.

Things Weren’t Always So Positive in Edmonton

Long-time Oilers fans may remember the economic uncertainty that was associated with the Oilers before the Edmonton Investors Group (EIG) saved the team, and before current Oilers owner Daryl Katz brought financial stability to the franchise. When their original NHL owner, Peter Pocklington, was in charge, the Oilers were successful on the ice, but unfortunately hit some tough times, and he put the team up for sale.

I personally remember when former Houston Rockets owner Les Alexander flew into Edmonton, and many thought he would fly back to Houston as the new owner of the Oilers. Fortunately, that didn’t happen as local businessman Cal Nichols and a group of 38 local owners, including Katz, formed EIG and stepped up to save the franchise. They purchased the team for $70 Million (US) and brought some stability back to a franchise that desperately needed it at the time.

Alexander wasn’t just here to kick tires; he put down a $5 million deposit, and his group had actually contacted Shandwick, the public relations firm I was working for at the time. Alexander’s group was asking if we were interested in taking him on as a client for this potential purchase. Thankfully, the general manager of our firm turned the request down. More importantly, the EIG and their local owners stepped up, bought the team and kept it in Edmonton.

Katz Purchases the Oilers in 2008

After months of negotiations in 2007, Katz became the sole owner of the Oilers franchise in June 2008 when he purchased the team from the EIG for $200 million (CAN). In 2012, he unveiled plans for the ICE District, which would become North America’s second-largest sports and entertainment district. And in 2014, the Katz Group, now The Oilers Entertainment Group (OEG), partnered with the City of Edmonton to begin development on Rogers Place, one of the most state-of-the-art arenas in North America.

Oilers Win Connor McDavid Draft Lottery in 2015

Many Oilers fans still remember where they were on April 18, 2015. That’s when they found out they had struck gold when NHL Deputy Commissioner Bill Daly announced the Oilers would have the first pick in the 2015 NHL Draft. That meant the Oilers had earned the right to select Erie Otters superstar Connor McDavid first overall on June 26.