Gary Bettman in hot water after a major NHL sponsor files for bankruptcy
Last summer Gary Bettman and the NHL made the decision to terminate their long standing agreement with Gatorade and replaced them as the league's official hydration sponsor. Instead the league opted to sign an agreement with Biosteel to become the league's new partner. Today that deal appears to have blown up in the NHL's face.
Today NHL Super Agent, Allan Walsh released the following information that one of the NHL's biggest partners has officially filed for bankruptcy protection.
Sports drink company BioSteel files for bankruptcy protection in the U.S. and Canada.
While the filing of bankruptcy doesn't mean the company will shutdown it will almost certainly mean changes to their spending. In Q1 of this year Biosteel reportedly sold over $30,000,000 in product, but spent over $40,000,000 in marketing for the product, this marketing included nearly $12,000,000 to the NHL. This means that every single product that was being sold, was being sold at a loss.
Biosteel joins Bally Sports as key NHL partners who have filed for bankruptcy protection in 2023 as the list of Bettman's failures grows longer.
| POLL | ||
Should the NHL fire Gary Bettman? | ||
| Yes, he's terrible at his job | 470 | 74.4 % |
| No, he's growing the game | 39 | 6.2 % |
| They need to consider it | 123 | 19.5 % |
| List of polls | ||
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