The political tension between the U.S. and Canada has the attention of NHL commissioner Gary Bettman.
After U.S. President Donald Trump’s sweeping 25 per cent tariffs on Canada and Mexico took effect on Tuesday, Bettman admitted that the Canadian tariffs could have a negative impact on the NHL.
“All players, no matter which country they play in, get paid in U.S. dollars,” Bettman told CNBC’s Becky Quick on Squawk Box on 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.”
Bettman confirmed that 25 per cent of the league’s revenue comes from its seven Canadian clubs.
The NHL commissioner said that he hasn’t spoken with the Trump administration yet, but he’s hoping for a quick resolution to what he believes is a “policy issue” between the two countries.
“I’m hoping that this is a moment in time and both countries find a way to work through this,” Bettman said.
Bettman acknowledged that both the league and the league’s sponsors are ready to adjust if the two long-time allies can’t come to a quick resolution.
“To the extent that there’s uncertainty, to the extent that there’s pressure on both economies and pressure on the dollars relative to each other,” Bettman said, when asked what he’s hearing from the NHL’s sponsors. “It’s going to cause some difficulties that are going to be adjusted for.
“That’s why I’m hoping this is a moment in time and whatever has to be sorted out, gets sorted out. And I guess if we can be a microcosm of how this works, we’re happy to play any role that we can.”
But despite the uncertainty and hostility the league is facing, Bettman said that the league is expecting to exceed revenues of $7 billion this season and that the “game has never been better.”
Bettman told CNBC that the league has seen record ratings and strong attendance this season, with teams across the NHL playing at 96.7 per cent capacity in 2024-25.
