BioSteel and NHL sponsorship fallout, how McDavid’s endorsement deal couldn’t save the partnership

On Thursday afternoon, news broke that BioSteel would no longer be the NHL's official hydration drink after the 2023-24 season. Founded in 2005, BioSteel, a Canadian company, took over from Gatorade as the league's official drink in 2022, acquiring Hart Trophy winner Connor McDavid on a sponsorship deal.

However, in September 2023, the company filed for bankruptcy and lost McDavid to BodyArmor, a company owned by Coca-Cola, which is rumored to take over as the official drink in 2024-25.

Although this is still a developing story, with more details to follow, here's a look at the past NHL drink sponsors and how this new partnership with BodyArmor could be beneficial in the future.

What is BioSteel, and what has happened to the brand?

For the longest time, Gatorade was the NHL's official drink sponsor. On the bench, players could be seen drinking from green water bottles with a giant "G" and a lightning bolt.

Moreover, any skater who requested a towel from a trainer would be handed a Gatorade-sponsored one. Interestingly, both items can still be bought at any hockey equipment store, next to a section devoted to BioSteel products.

BioSteel was the idea of John Celenza and former NHL player Mike Cammalleri, who created the company in 2005. At first, it was only available to professional sports teams and players before Canopy Growth Corporation bought 90% of the company and started producing it for the general public.

BioSteel is currently on every NHL bench.

Initially, McDavid became the top hockey player associated with the product. In addition, Super Bowl MVP Patrick Mahomes became another big-name endorser, helping the company grow while being featured in North America's most popular sport, professional football.

In 2021, the company scored its most significant deal: it became the official drink of the Los Angeles Lakers and a handful of other NBA teams. Within a year, the company secured a hydration deal with the NHL, replacing its long-term sponsor, Gatorade, at the start of the 2022-23 season.

Despite having the league's face (McDavid) endorse the product, it wasn't enough to save the company from financial ruin.

BioSteel's downfall and BodyArmor's rise

Almost every NHL game featured at least one commercial featuring McDavid skating and drinking BioSteel. The company was so eager to enhance their partnership with the league that they inked former first-overall pick Connor Bedard to a deal before he even skated in the NHL.

Even though everything seemed to be running smoothly on the surface, BioSteel was being bled dry and racking up millions in debt. In 2023, one year after securing the NHL deal, Canopy filed for bankruptcy. Less than six months later, it lost its largest sponsorship deal (with the NHL).

Anyone invested in hockey's business saw this move coming for weeks when BodyArmor announced that it had brought McDavid as its newest client.

With news of BioSteel stepping away from the game, BodyArmor is lining up to become the league's official drink for the start of the next season in September.

BodyArmor was created by Mike Repole in 2011. Coca-Cola bought a minority share of the company in 2018. By 2021, the soft drink giant purchased the remaining shares for $5.6 billion.

Considering that Coca-Cola and PepsiCo, which owns Gatorade, are two of the world's most recognizable drink companies, it makes sense that BodyArmor would seek sponsorship with a professional league in North America to remain a step ahead in the competition.

The NHL continues to struggle to gain traction with average fans in North America outside of some markets with deep hockey roots. If it makes sense to switch things up to get more eyeballs on the product, then the league has to jump at the chance to be associated with Coca-Cola again.

Since sports has morphed into a business more than an activity, seeing such a dramatic change in brand sponsorship is not surprising. Although we don't know any details of a partnership between the NHL and BodyArmor, this won't be the last time we see a change as business and the game continue to evolve.