Photo credit: NHL
Gary Bettman in hot water after a major NHL sponsor files for bankruptcy
BY JOSH SEPTEMBER 14, 2023 (11:13)
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.
SHOULD THE NHL FIRE GARY BETTMAN? SEPTEMBER 14 632 ANSWERS | ||
| YES, HE'S TERRIBLE AT HIS JOB | 470 | 74.4 % |
| NO, HE'S GROWING THE GAME | 39 | 6.2 % |
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