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According to Forbes, the New York Rangers are the NHL’s most valuable franchise

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They’re valued at $1.25 billion, which is a lot.

NHL: Carolina Hurricanes at New York Rangers Andy Marlin-USA TODAY Sports

Of course: it’s Madison Square Garden. It’s New York.

It is, once again, the most valuable NHL franchise.

Forbes has released their annual valuation of all 30 NHL teams (there aren’t 31 just yet), and the New York Rangers have retained their top spot for the second year in a row.

Not just that they’re worth $1.25 billion, but they’ve also grown by 4.2% from last year. That’s only 13th among teams listed, but when you’re already at the top, it’s much harder to keep growing at rates as high as those below you. The fact that they’re still growing, though: that’s pretty awesome.

Via Forbes:

The Rangers are the NHL’s most valuable team for the second straight year and have the league’s highest revenue. The team has one of the most passionate, loyal and enthusiastic fan bases in all of sports and ranked in the top three in the NHL for ticket sales revenue for the 2015-16 regular season thanks to the high prices in the New York market. Last year marked the ninth consecutive year that Rangers season tickets sold out.

In second place are the Montreal Canadiens, who are valued at $1.12 billion. And considering how they - and every other Canadian team, for that matter - saw a decrease between this year and last, we can probably expect the Rangers to maintain top spot for the next little while, at the absolute least.