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Red Wings valued at $346 million, according to Forbes

The Detroit Red Wings have been valued at $346 million by Forbes, making them the sixth most valuable franchise in the NHL.

Andrew Weber-US PRESSWIRE

The Detroit Red Wings are worth $346 million, according to Forbes Magazine, making them the sixth most valuable franchise in the NHL. The team is in the midst of a 70-game sellout streak at home, and pulled in $128 million in revenue during the 2011-12 season. The clubs listed ahead of the Red Wings are the Toronto Maple Leafs, New York Rangers, Montreal Canadiens, Chicago Blackhawks, and Boston Bruins.

The Red Wings are one of the most historic clubs in the NHL. They have won 11 Stanley Cups, the most of any American team, and the third-most overall behind the Canadiens and Maple Leafs.

The Red Wings and the rest of the league are currently engaged in a lockout that is nearing its third full month. The Red Wings were scheduled to host the Winter Classic at Michigan Stadium in Ann Arbor on New Year's Day, but labor strife has caused the game to be cancelled.