NHL's Sponsorship Files for Bankruptcy

Published September 14, 2023 at 3:52 PM
BY AUSTIN SABOURIN
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.

Sports drink company BioSteel files for bankruptcy protection in the U.S. and Canada.




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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September 14   |   63 answers
NHL's Sponsorship Files for Bankruptcy

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