Forbes has come out with its annual Business of Hockey, NHL team values list. The Los Angeles Kings are ranked number 12 at $215 million dollars. That is up 3% from last year. They are 4th in the Debt / Value ratio at 76%. Revenue is at $98 million. For the complete list, click on Forbes NHL Team Values 2010.

To put things into perspective, Phil Anschutz and Ed Roski purchased the Kings out of bankruptcy in 1995 for only $113.25 million. Thus, the Kings have nearly doubled in value. Take into consideration the incredible non-hockey revenues generated by Staples Center year round, AEG’s downtown LA real estate and the Nokia theater, nobody should be crying too hard for our ownership group and Tim Leiweke when they claim the team “lost money” in any particular year.

“It’s not about the cash, it’s about the cap…” Leiweke told us during the Kovalchuk saga. That statement only applies, if at all, to that limited circumstance. Otherwise, it’s all about the cash.