The New Jersey Devils are now valued at $2.4B, up 14% from the prior Matchex record. That jump lands them firmly in the NHL's upper tier—only the Rangers ($7B), Maple Leafs ($2.65B), and a handful of others sit higher. The gain reflects two forces: NHL-wide momentum (the league crossed $100B in total franchise value for the first time) and New Jersey's specific tailwinds—a rebuilt roster, stabilized arena economics at the Prudential Center, and renewed investor confidence in the Metro market. For sports investors, this matters. The Devils' valuation now sits at a premium to the NHL median (roughly $1.9B), signaling that buyers see upside in the franchise beyond its current on-ice performance. That's the same bet institutional capital is making across the league—TV money is flowing, expansion fees are real, and valuations are moving faster than most expected.