NHL commissioner Gary Bettman called the current political tensions between the United States and Canada “really unfortunate,” during an interview on CNBC’s “Squawk Box,” and said the potential economic fallout could negatively affect the league.
After confirming that 25 percent of the league’s revenue comes from the seven franchises in Canada, Bettman said any impact on the Canadian economy will affect the rest of the league, regardless of where teams reside.
“All players, no matter which country they play in, get paid in U.S. dollars,” Bettman said. “So if the impact of the tariffs is to see the Canadian dollar drop relative to the U.S. dollar, it will make it more difficult and more painful.
“We have revenue sharing, but a lot of our Canadian clubs do quite well, but that’s going to be impacted by what happens with the Canadian dollar. We’re hoping — and I’m hoping — that this is a moment in time and both countries find a way to work through this.”
On Tuesday, U.S. President Donald Trump imposed new tariffs on neighboring nations — 25 percent on all imports from Canada and Mexico, as well as an additional 10 percent on imports from China. Canada Prime Minister Justin Trudeau called the trade war “very dumb” in a televised address, saying Canada would “relentlessly fight” to protect its economy. Trump then threatened more drastic measures in response to any new Canadian tariffs on social media.
Bettman said he has not engaged in conversation with the Trump administration.
While Bettman voiced concerns about the economic impact tariffs could have on the league’s future financial stability, he did note that the league is currently in good financial shape. This season, Bettman expects the league to exceed $7 billion in mixed-currency revenue and $260 million in sponsorship revenue, but added that sponsors are dealing with a lot of uncertainty and the current unknowns are “going to cause some difficulties that are going to have be adjusted for.”
And yet, Bettman said the league’s financial numbers have never been stronger.
“We’re in a good place, because the game has never been better,” Bettman said. “We saw that particularly with the 4 Nations tournament and what interest that generated.”
During the U.S. and Canada’s first meeting in 4 Nations Face-Off — an international hockey tournament between the U.S., Canada, Finland and Sweden held in place of an All-Star Game this season — fans at the game in Montreal booed “The Star Bangled Banner” in protest of Trump’s repeated suggestion that Canada become the 51st state of the U.S., past references to Trudeau as governor and proposed tariffs.
It was not the first time Canadian fans booed the U.S. anthem in protest of Trump’s rhetoric. Boos also rained down during the U.S. anthem ahead of the Toronto Raptors matchup with the LA Clippers in early February.
(Photo: John Deputy / NHLI via Getty Images)
