This week Sportico revealed their updated list of the most valuable franchise in Canada and while both Toronto and Montreal still find themselves in the top 5, both teams have been passed. Here are the final results.

The Toronto Raptors find themselves in the number one spot, followed by the Maple Leafs, the Toronto Blue Jays, the Montreal Canadiens and the Edmonton Oilers finish off the top 5. It is likely that as early as next season the Blue Jays will find themselves in the 2nd spot as MLB continues to grow at exponential speeds.

NHL teams continue to grow in value, they are doing so at a much slower rate than any of the other major sports. Combined this with the terrible Sportsnet deal the NHL signed in Canada, and the league's popularity has stagnated in many respects. With both MLB and the NBA having signed extremely lucrative TV deals that see revenue increase, the NHL has turned to board advertisements to try and bridge this gap.

So despite what Gary Bettman continues to claim, the NHL is far from healthy when compared to other major professional sports. Only time will tell if the NHL can right the ship and get things back on track.