NHL and Gary Bettman loses another major partner
When the NHL agreed to a deal worth north of $70,000,000 with Adidas to replace Reebok as the official NHL jersey brand it was lauded as a major win. Now 5 years later Adidas has decided they no longer want to be in business with the NHL. Adidas has 2 years remaining on their contract that they will fulfil.
This split was not something the NHL expected, but has already stated they'll begin the process of looking for another partner.
This is a major loss for the NHL, but it is also a major loss for players like Connor McDavid. Adidas has informed any of their player ambassadors that they will not be renewing any deals going forward.
This falls as the second major loss in the last 6 months as Gatorade also chose to terminate their partnership with the NHL recently as well.