According to Forbes’ annual list of NHL franchise values, the Washington Capitals are worth $250 billion, but they lost $1 million last year.
The Caps were ranked 11th on the 2012 list; their value is up 11 percent from a year ago.
Still, Forbes said Ted Leonsis’ team lost $1 million, making the Caps the most valuable NHL team not to make a profit.
The Toronto Maple Leafs topped the list as the first NHL team to be worth $1 billion. All but four franchises had their value increase since 2011.
Check out the full list from Forbes here.