Kathryn Carson, chairwoman of the board of directors, said the organization is turning to bankruptcy to speed things up after mediation attempts failed to gain traction.
The New York Rangers are the NHL's most valuable franchise for a fourth consecutive year, according to Forbes.
The Toronto Maple Leafs are second at $1.35 billion, and Montreal Canadiens third at $1.3 billion, 4 percent increases for both clubs. Original Six clubs make up the top five, with the Chicago Blackhawks fourth at $1.05 billion and the Boston Bruins fifth at $925 million.
The 25-year-old Venezuelan striker received his Landon Donovan trophy Wednesday at the headquarters of United owner Arthur Blank.
The Cardinals sent pitcher Luke Weaver, catcher Carson Kelly, minor league infielder Andy Young and a 2019 draft pick to Arizona on Wednesday.