Hockey Canada has officially lost every last one of its top-tier corporate sponsors after Nike suspended its 23-year relationship with the organization.
Catch-up: Hockey Canada has been under fire as of late after being exposed for its mishandling of sexual assault allegations, including using member funds to pay settlements.
Driving the news: Nike is the latest company to pull a million-dollar sponsorship as Hockey Canada resists taking any real action, including keeping current management intact.
- Canadian Tire made waves by becoming the first sponsor to permanently sever ties with the organization, and Tim Hortons, Scotiabank, Telus, Esso, Sobeys, and Cheverelot all pulled out of sponsoring men’s events for the upcoming season.
Why it matters: Corporate sponsorships are the main economic driver of athletics, with 43% of Hockey Canada’s revenue last year coming from partnerships. A funding drain will hit the men’s game most but could send a ripple effect through women’s and youth hockey.
- For comparison, government funding (which has also been suspended) only accounted for 6%, while member fees only made up 2%.
What’s next: Look no further than the Washington Commanders (before they changed their name) to see how sponsorship money can affect real change—that's it, if the organization isn’t already beyond saving.