"More difficult and more painful” - NHL commissioner Gary Bettman shares concern over US-Canada tariff wars affecting league

NHL Commissioner Gary Bettman spoke on CNBC’s Squawk Box about how U.S.-Canada tariffs could affect the league. If tariffs weaken the Canadian dollar, it could financially hurt Canadian teams. However, Bettman explained that all NHL players are paid in U.S. dollars.

"The issue in that regard is all players were, no matter which country they play in, get paid in US dollars," Bettman said. "So if the impact of the tariffs is to see the Canadian dollar drop relative to the US dollars, it will make it more difficult and more painful.

"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."

Canada contributes about 25% of the NHL’s $7 billion revenue. Teams like the Oilers, Maple Leafs, and Canadiens generate high earnings. A weaker Canadian dollar could reduce its revenue.

Bettman said revenue sharing helps but won’t fix everything.

Trade tensions and U.S. President Donald Trump's "51st State" remarks have also affected the relationship between the two. Some in Canada have booed the U.S. national anthem, and U.S. fans have done the same.

Gary Bettman has not spoken to U.S. officials but hopes the situation improves soon.

“It’s really unfortunate that these two great countries, great allies for hundreds of years, share a long border together,” Bettman said, per the Ottawa Citizen. “Most of the tension isn’t addressed at either country or at the people because I’ve 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, and our sport are caught in the middle of it.”

NHL Commissioner Gary Bettman announced the return of international hockey

Previously, in the second week of February, NHL Commissioner Gary Bettman announced the return of international hockey at the 4 Nations Face-Off tournament. He said the event is a step toward more best-on-best tournaments with NHL players.

“We couldn’t be more excited about making it a reality on a regular schedule with the best players in the world representing their countries,” Gary Bettman said, per the Ottawa Citizen.

“We know the full-blown World Cup — and this is just going to be a sampler — is going to be sensational,”

The NHL will also pause for the 2026 Olympics and has planned a World Cup in 2028 and Olympic participation in 2030.