Forbes magazine has just published a list of hockey-team valuations, and it shows a not-too-bright economic picture for the St. Louis Blues. The Note rank 29th in Forbes’ estimation of what the team is worth, and they’re only $1 million ahead of  the  bottom team, the Nashville Predators. The magazine estimates that the Blues  had an operating loss of $5.5 million last year and that the franchise’s  value dropped by 3 percent. The Philadelphia Flyers and Colorado Avalanche were the only other teams to go down in value.

Here’s an excerpt from Forbes’ Blues profile:

It was a rocky first year for new Blues owner David Checketts who built his chops running the New York Rangers. The Blues raised ticket prices 10% last season despite finishing with the league’s worst record the prior year. Fans reacted by staying away in droves from the Scottrade Center. Attendance fell 12% and was the lowest in the NHL.