In the sports world, few names carry as much weight as Connor McDavid. He's not just an NHL superstar; he's also the face of BioSteel, a beverage company co-founded in 2009.
BioSteel recently faced financial troubles, with high spending and limited earnings, raising questions about its business practices. To address its substantial $400 million debt, including $8.7 million owed to the NHL, BioSteel filed for bankruptcy protection.
The company's growth, driven by athletes, sponsors, and marketing deals, relied heavily on advertising and promotions.
This financial challenge affects multiple parties, including the Carolina Hurricanes and the Boston Bruins, among others, who may need to find new sponsors for various supplies.
