Bettman says NHL could be affected by U.S.-Canada tariffs
Published
NHL commissioner Gary Bettman said Wednesday on CNBC’s Squawk Box that the league could be impacted by trade tensions between the United States and Canada.
Tariffs imposed by U.S. president Donald Trump Tuesday are forecasted to pose significant challenges to the Canadian economy, which could be an issue to the NHL given its seven Canadian clubs.
Like many in North America, Bettman is hoping the tariffs are short-lived.
“The issue in that regard is all players, no matter which country they play in, get paid in U.S. dollars. 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,” he told CNBC.
“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, I’m hoping, that this is a moment in time and both countries find a way to work through this.”
Bettman also said some of the league’s most prominent sponsors could also be affected by the economic fallout.
"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, it’s going to cause some difficulties that are going to have to be adjusted for,” he said.
Bettman said the league has not been in contact with anyone from the Trump administration despite being at the White House recently to celebrate the Stanley Cup-winning Florida Panthers.
“We were with the Florida Panthers a couple of weeks ago with the president, but the issue didn’t come up,” he said. “And in terms of understanding it from our standpoint, we’re not really privy to all the discussions going on at the highest levels of both countries. So, we get to be affected observers as I guess you could say.”
Rising tensions between the two countries was evident at last month’s 4 Nations Face-Off, where Canada defeated the U.S. in the final. Fans in Montreal loudly booed the U.S. anthem during their group stage game on Feb. 15, which also featured three separate fights in nine seconds just after puck drop.
American anthems have been booed at NHL arenas in Canada throughout the past few weeks as threats of tariffs escalated.
Bettman called the recent tensions between the two long-time allies “unfortunate.”
“I spent a lot of time in the last 30 years in Canada. And Canadians love the United States and love Americans, but there’s a policy issue that’s going on and it’s unfortunate that the two countries, the people of the two countries that are [in the middle] of it.”