Trump’s Tariff Push Raises NHL Concerns: League Hopes For Return To ‘Normal Reality’ – Rogers Communications (NYSE:RCI)

President Donald Trump‘s plan to impose reciprocal tariffs on overseas imports despatched markets decrease on Thursday.

Canada was spared from further tariffs throughout Wednesday’s announcement, however has been a favourite Trump goal. Canada’s economic system could possibly be damage by tariffs, which could possibly be an issue for American sports activities leagues, particularly the Nationwide Hockey League.

What Occurred: A Canadian NHL crew has not received the Stanley Cup since 1993. Whereas that drought continues to be a key truth on the minds of the seven Canadian NHL groups, they could have larger issues at hand.

NHL Commissioner Gary Bettman was asked about Trump’s newest tariffs and the potential impression on the NHL this week when highlighting a brand new Canadian media rights take care of Rogers Communications RCI.

Bettman mentioned he does not need to weigh in on politics and hopes that individuals use sports activities as an escape from unfavorable headlines. Though, he acknowledged that the state of affairs might nonetheless have significant implications.

“I hope what we’re seeing is a second in time and issues can get again to a standard actuality,” Bettman mentioned. “I’ve considerations from a enterprise standpoint for the league that if the Canadian economic system suffers by what is going on on that may impression the best way we do enterprise.”

Bettman’s newest feedback observe a CNBC interview final week by which he mentioned 25% of the NHL’s league income comes from the seven Canadian groups. He additionally talked about that the salaries are paid in US {dollars}.

“So if the impression of the tariffs is to see the Canadian greenback drop relative to the U.S. greenback, it should make it harder and extra painful.”

On the time, Bettman mentioned Canadians and Individuals have been seemingly getting “caught within the center” of a coverage problem.

Learn Additionally: Trump Unveils Massive Tariff Plan to Slash $1.2 Trillion Trade Deficit: ‘Access To The American Market Is A Privilege’

Why It is Essential: The NHL’s seven Canadian groups are the Calgary Flames, Ottawa Senators, Montreal Canadiens, Toronto Maple Leafs, Edmonton Oilers and Winnipeg Jets.

The Maple Leafs are partially owned by two public telecommunications firms. Rogers owns 37.5% of the crew, and Bell Canada BCE additionally owns 37.5% of the crew. The possession comes through the Maple Leaf Sports activities & Leisure guardian firm. MLSE additionally owns the Nationwide Basketball Affiliation crew, the Toronto Raptors, and different sports activities belongings. Rogers owns the Main League Baseball crew, the Toronto Blue Jays.

Hockey tools and jerseys are additionally made in Canada and could possibly be topic to tariffs, rising prices for the league because it nears the top of its common season.

In different American sports activities leagues, Canada is much less concerned. Within the NBA it is one Canadian crew (Raptors) and the identical for MLB (Blue Jays). The NHL will probably be rather more impacted by tariffs on Canada and the nation’s economic system going ahead.

As a commerce struggle doubtlessly escalates, followers also can get extra partial towards sure groups, as was evidenced with booing of nationwide anthems when Canada and the USA performed one another within the 4 Nations Event earlier this 12 months.

Value Motion: Rogers Communications inventory hit a brand new 52-week low of $24.76 earlier this week. The inventory has traded between $24.76 and $41.84 during the last 12 months, with shares down 15.2% year-to-date in 2025 and down 34.9% during the last 12 months.

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