NHL Partnership Fees Break $1 Billion Barrier With Addition Of Banks And Beer

The National Hockey League broke the $1 billion barrier on partnerships, signing deals with banks and liquor companies for the 2021-22 season, according to valuation platform SponsorUnited.

About $400 million came from financial institutions, the company said. At the league level, the NHL has deals with Navy Federal Credit Union, Discover and Canada’s Scotiabank. The agreements helped increase sponsorship revenue 63% over last season. NHL clubs made a combined $623 million in 2021, according to SponsorUnited data provided to Forbes.

Prior to the pandemic, NHL clubs almost topped $1 billion in fees. SponsorUnited said teams made $906 million in fees for the 2019-20 season, down from $936 million the previous year.

SponsorUnited is a marketing company that tracks pro sports sponsorships. Investors include Marc Lasry, Avenue Capital Group chairman and Milwaukee Bucks owner and San Diego Padres co-owner Ron Fowler.

The company’s estimates support league Commissioner Gary Bettman’s claim the NHL would make over $5 billion in revenue this season. That’s up from a reported $4.6 billion last year, when revenue was impacted by the pandemic. The league also benefited from a bigger media rights deal. In 2021, Disney and Warner Bros. Discovery agreed to pay the NHL approximately $625 million annually in fees. That’s up from $300 million in the previous broadcast agreement with NBCUniversal.

Keith Wachtel, the NHL’s chief business officer, told Forbes that SponsorUnited’s estimates were accurate but didn’t discuss specifics. However, he cited expanded distribution for growth. Wachtel said the NHL’s female viewership increased 61% on ESPN and Turner Sports compared with its final year on NBC Sports.

The NHL ends its first season back on ESPN at the conclusion of the Stanley Cup Finals featuring the Tampa Bay Lightning and Colorado Avalanche. The Lightning are seeking a third consecutive championship. ESPN said an average of 4.2 million viewers watched the Avalanche win the series opener on Wednesday.

As a comparison, the 2021 Stanley Cup Final series between the Lightning and Montreal Canadiens on NBC Sports averaged 2.5 million viewers. That’s up from an average 2 million viewers that watched the 2020 series. The 2019 Stanley Cup Finals featuring the Boston Bruins and St. Louis Blues averaged more than 5 million viewers.