The Seattle Kraken are now worth nearly $1.8 billion after four years of existence.

The franchise’s $1.77 billion evaluation ranks it 21st among the NHL’s 32 teams, according to CNBC . The team’s value is up from $1.6 billion last year.

The average NHL franchise is worth $2.2 billion, meaning the Kraken are still below average in valuation compared to the league at large.

The league’s new media rights deal in Canada is significantly boosting team valuations across the league. In April, the NHL signed a 12-year deal worth $7.8 billion with Rogers Communications for Canadian media rights — more than double the previous Canadian media deal.

On the U.S. side, the NHL has media rights deals with Walt Disney and Warner Bros. Discovery that run through the 2027-28 season. The league

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