The local franchise’s worth clocks in at $220 million, 16th best in the NHL but well below the league average of $282 million.
The team is the sixth most valuable among the seven Canadian franchises, outpacing only the Winnipeg Jets.
The Forbes analysis pointed to the huge disparity in values between the teams at the top end and those at the bottom as one reason for the league’s ongoing labour dispute.
The magazine estimated there was an $870 million difference between the most and least valuable franchises. The Toronto Maple Leafs are worth an estimated $1 billion, while the St. Louis Blues are valued at $130 million.
The NHL has so far cancelled all the games originally scheduled so far for the 2012-2013 season after locking out the players’ union in September as it seeks a deal more favourable to owners
Senators owner Eugene Melnyk has denied reports he is seeking investors to help deal with the team’s debt, the report notes. However he has said the team is losing money, it said.