National Hockey League Commissioner Gary Bettman conveyed concerns about the potential implications of tariffs and ongoing U.S.-Canada relations on the league’s financial landscape during an appearance on CNBC’s “Squawk Box.” He pointed out that approximately 25% of the NHL’s revenue is generated from its Canadian franchises, underlining the significance of smooth cross-border transactions and economic relations.
Geopolitical Effects on NHL Revenue
Bettman noted that all players across the NHL receive their salaries in U.S. dollars, which poses challenges if tariffs weaken the Canadian dollar against its American counterpart. “Should Canadian tariffs adversely affect the dollar’s valuation, it might create complications for player compensation,” he stated. This situation could amplify financial strains on both Canadian teams and the league at large.
Bettman has yet to engage with the Trump administration on this matter, citing the broader policy issues that underpin the current tension between the two nations. “It’s my hope that this is a fleeting point in time, and both countries can navigate through these challenges,” he added, reflecting on the potential strain these tariffs could impose not only on team revenues but also on NHL sponsorships.
Current League Performance and Future Projections
Despite external pressures, Bettman expressed optimism regarding the NHL’s profitability, forecasting that the league is poised to surpass $7 billion in mixed currency for the 2024-25 season. He highlighted record attendance figures, with teams achieving a 96.7% capacity average, as well as strong ratings across various media platforms in both Canada and the U.S.
The NHL, which consists of seven Canadian teams—including marquee franchises like the Toronto Maple Leafs and Vancouver Canucks—continues to thrive in terms of fan engagement and franchise valuations. Presently, the average team is valued at approximately $1.92 billion, reinforcing the league’s strong market presence.
Bettman concluded by emphasizing the league’s stable performance, stating, “Our ratings remain robust, and our partnerships with media outlets in both Canada and the U.S. are flourishing. The game has never been in a better position than it is now.”
