The National Hockey League may soon feel the ramifications of U.S. tariffs as all players are paid in USD regardless of their team’s origin.
“All players, no matter which country they play in, get paid in U.S. dollars,” NHL Commissioner Gary Bettman told CNBC during an interview Wednesday.
“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.”
According to Bettman, 25% of the league’s revenue comes from its Canadian clubs.
Canada has seven teams, including the NHL’s highest earning club, the Toronto Maple Leafs, valued at $2.8 billion in the 2022-23 season.
The Montreal Canadiens are the third highest earning club and the Edmonton Oilers are the seventh.
“We have revenue sharing,” said Bettman. “A lot of our Canadian clubs do quite well but that’s going to be impacted by what happens with the Canadian dollar.”
He added that tariffs may also present complications with sponsors regarding uncertainty that will have to be “adjusted” for.
While Bettman has not yet spoken with the Trump administration about the issue, he believes it to be a “policy issue,” with the citizens of each country “caught in the middle.”
Calling the situation “really unfortunate” Bettman acknowledged that the NHL is “not really privy to all the discussions that are going on at the highest levels of both countries so we get to be affected observers.”
“We’re hoping, I’m hoping, that this is a moment and time and both countries find a way to work through this,” he said.
The NHL is projected to exceed $7 billion in revenues in combined USD and CAD currencies for the current 2024-25 season.
“Our ratings are strong and we have great media partners in Canada and the United States,” Bettman said. “And we’re in a good place because the game has never been better.”