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.
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.
