SMITHS FALLS, Ont. — BioSteel Sports Nutrition Inc. owes a slew of top-ranking sports teams and leagues millions of dollars.
In a preliminary list filed by the sports drink company which obtained creditor protection last week, BioSteel details more than $439 million in amounts owed to a range of businesses including manufacturers, distributors and retailers.
Of the sports entities listed, the National Hockey League's merchandising and licensing affiliate NHL Enterprises is the top creditor with $8.7 million owing.
In hopes of diversifying away from the cannabis market, Canopy Growth Corp. bought a majority share of BioSteel in 2019 but has since announced plans to sell the business because of profitability challenges.
Through dozens of partnerships, BioSteel has had a steady presence on arena and sports field benches since it was started by entrepreneur John Celenza and hockey star Michael Cammalleri in Toronto in 2009. Cammalleri is owed roughly $12,000.
This report by The Canadian Press was first published Sept. 19, 2023.
Companies in this story: (TSX:WEED)
The Canadian Press