Trump’s Tariff Push Raises NHL Issues: League Hopes For Return To ‘Regular Actuality’ – Rogers Communications (NYSE:RCI)

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

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

What Occurred: A Canadian NHL workforce 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 might have greater issues at hand.

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

Bettman mentioned he does not need to weigh in on politics and hopes that folks use sports activities as an escape from destructive headlines. Though, he acknowledged that the scenario may 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 issues from a enterprise standpoint for the league that if the Canadian economic system suffers by what is going on on that can impression the way in which we do enterprise.”

Bettman’s newest feedback comply with a CNBC interview final week wherein 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’ll make it harder and extra painful.”

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

Learn Additionally: Trump Unveils Huge Tariff Plan to Slash $1.2 Trillion Commerce Deficit: ‘Entry To The American Market Is A Privilege’

Why It is Necessary: 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 workforce, and Bell Canada BCE additionally owns 37.5% of the workforce. The possession comes by way of the Maple Leaf Sports activities & Leisure mum or dad firm. MLSE additionally owns the Nationwide Basketball Affiliation workforce, the Toronto Raptors, and different sports activities property. Rogers owns the Main League Baseball workforce, 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 tip of its common season.

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

As a commerce warfare probably escalates, followers also can get extra partial in opposition to sure groups, as was evidenced with booing of nationwide anthems when Canada and america performed one another within the 4 Nations Match earlier this yr.

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 yr, with shares down 15.2% year-to-date in 2025 and down 34.9% during the last yr.

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Photograph: Debby Wong/Shutterstock