NHL commissioner Gary Bettman warned that the economic fallout from Donald Trump’s tariffs on Canada may spill onto the ice, with Americans and Canadians getting “caught in the middle of it.”
Speaking to CNBC’s Becky Quick on Squawk Box Wednesday, Bettman warned that the tariffs could hurt the league, which gets more than 25 percent of its revenue from its seven Canadian teams.
Bettman, who has served as the league’s top executive since 1993, said that if the Canadian dollar drops against the U.S. dollar, as is expected, it could shake up the NHL’s revenue sharing system.
“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.”
Trump and Bettman last crossed paths when the Florida Panthers visited the White House after their Stanley Cup win in early February. During the visit, Trump had flattering words for the commissioner, remarking, “He does a great job.”
In his interview on CNBC, Bettman also pointed to growing uncertainty among the league’s sponsors and rising tensions between fans since Trump first announced his plans to impose 25 percent tariffs on Canada and stirred the pot further by suggesting he wants to annex the country as the 51st state.
Canadian fans booed the U.S. national anthem at a game between the countries' national teams in February, while Rangers fans returned the favor ahead of a game against the Toronto Maple Leafs.
Calling the U.S.-Canada rift a “policy issue,” Bettman, who is American, lamented that people from both countries are getting caught in the middle of it.
“I’m hoping that this is a moment in time and both countries find a way to work through this,” he said.
Even as Trump throws the countries' alliance out the door, Bettman said the NHL is still on track to pull in over $7 billion in mixed-currency revenue for the 2024-25 season.
Teams have played at 96.7% capacity so far this season, and the league has seen record ratings. Noting “great” media partners in both Canada and the U.S., Bettman said “We’re in a good place because the game has never been better.”
