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The Canadiens are worth more than the Maple Leafs, according to the latest report by Forbes.

The New York Rangers top the list at an estimated worth of $1.2 billion, but the Canadiens are not far behind.

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Geoff Molson’s team is valued at $1.18 billion, placing them second on the list and represents an increase of 18 per cent over last season’s listing.

Forbes says the increase in revenue from a new television agreement with RDS contributed to the increase.

The Maple Leafs dropped from top spot to third, but are still worth $1.15 billion.

Forbes says each NHL team is worth, on average, $505 million, an increase of three per cent.