Rogers Communications and NHL agree to a new Canadian Television Deal

On March 31, 2025, the NHL announced a new 12-year Canadian TV deal that will pay the NHL $7.7 billion (USD) or $11 billion (CAD).[i] The NHL’s media and executive committees recommended the deal, which was approved by a majority vote by the owners.[ii] The deal will take effect in the 2026-2027 NHL season.[iii]

The new deal will replace the current 12-year deal between the NHL and Rogers, which was signed in 2013.[iv] The current deal, signed in 2013, was worth $5.2 billion (CAD) or $4.9 billion (USD).[v] The new agreement represents a significant additional revenue source for the NHL, as the league anticipates a steady rise in the salary cap in its upcoming seasons under a yet to be negotiated new CBA.[vi]

However, since the NHL conducts their business in U.S. dollars, existing and potentially pending tariffs continue to pose a major concern on the Canadian teams and their markets.[vii] Overall NHL revenues have grown, as the league has diversified its income streams beyond TV and streaming contracts.[viii] These include commercial sponsorships, helmet advertising, and dasher board advertising.[ix]

Rogers Communications, owns Sportsnet network, which broadcasts NHL games and features former NHL players, and well-known hockey analysts who provide game breakdowns.[x] Prior to the agreement, Rogers was expected to face competition from other service providers and streaming services such as Amazon over the next NHL rights deal.[xi] Amazon is currently in its first year of a two-year deal with the NHL to steam games in Canada on its Prime service.[xii] It would have been a difficult task for Amazon to replace and replicate what the members of Sportsnet do for the NHL.

Furthermore, the deal does not include rights to the World Cup of Hockey, which is set for 2028, but Rogers might have rights to first refusal.[xiii] This is important considering how successful the 4 Nations Face-Off, ratings were.[xiv]

Another key factor in Rogers decision to reinvest in the NHL’s national broadcast rights was the Edmonton Oilers 2024 Stanley Cup run, in which they made it all the way to the finals.[xv] Additionally, there are five Canadian teams expected to make the 2025 playoffs, with three of them projected to make deep runs for the Cup.[xvi]

The deal is exactly what the NHL needs. It will generate more revenue which in turn will lead to an increased salary cap and giving teams greater financial flexibility to spend on their players.[xvii] For the 2024-25 season, NHL revenue is projected to exceed $6.6 billion (USD), which is the highest sum in league history.[xviii] This allows the league to continue to raise the salary cap and shows that the league is attracting more consumers.[xix]

[i] https://www.sportico.com/leagues/hockey/2025/nhl-rogers-new-media-deal-billion-1234845631/

[ii] Id.

[iii] Id.

[iv] Id.

[v] Id.

[vi] https://apnews.com/article/nhl-tv-canada-654344a3e40cabc7bb22cfe31064e9a7

[vii] Id.

[viii] Id.

[ix] Id.

[x] Id.

[xi] Id.

[xii] Id.