NHL's Sponsorship Files for Bankruptcy

Last summer, the NHL, led by Gary Bettman, switched from Gatorade to Biosteel as their official hydration sponsor.

However, concerns arise as Biosteel files for bankruptcy protection in both the U.S. and Canada, according to NHL Super Agent Allan Walsh.

While bankruptcy protection doesn't mean the company will shut down, it does indicate financial adjustments ahead.

In Q1 this year, Biosteel generated over $30 million in product sales but spent over $40 million on marketing, with nearly $12 million going to the NHL, suggesting they operated at a loss.

Biosteel's bankruptcy follows Bally Sports, another NHL partner seeking protection in 2023, raising questions about the NHL's recent business decisions.

Via hawksinsider

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