SMITHS FALLS, Ont. – BioSteel Sports Nutrition Inc. owes a slew of top-ranking sports teams and leagues millions of dollars.<\/p>\n
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.<\/p>\n
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.<\/p>\n
The Los Angeles Lakers basketball team is owed $2.5 million, rival Miami Heat just shy of $1 million and the United States Soccer Federation about $676,000.<\/p>\n
Basketball teams the Brooklyn Nets and Philadelphia 76ers are owed $367,000 and $297,000, respectively, followed by USA Hockey $197,000 and Hurricanes Hockey with $96,000.<\/p>\n
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.<\/p>\n
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.<\/p>\n
This report by The Canadian Press was first published Sept. 19, 2023.<\/p>\n
Companies in this story: (TSX:WEED)<\/p>\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
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. […]<\/p>\n","protected":false},"author":362,"featured_media":811,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"guid":"","source":"The Canadian Press","byline":"The Canadian Press","published":"2023-09-19T08:42:22","updated":"2023-09-19T22:00:00","_infotelid":"IT100607","_prepressid":"100607","_multisite_post_sync":"","_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[379,2,391,381],"tags":[],"region":[309,310,311,312],"class_list":["post-812","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured3","category-in420","category-nonit","category-topnews","region-kamloops","region-kelowna","region-penticton","region-vernon"],"blocksy_meta":{"styles_descriptor":{"styles":{"desktop":"","tablet":"","mobile":""},"google_fonts":[],"version":7}},"parsely":{"version":"1.1.0","canonical_url":"https:\/\/infonews.ca\/in420\/news\/812\/biosteel-creditors-list-shows-company-owes-millions-to-the-whos-who-of-sports-2\/","smart_links":{"inbound":0,"outbound":0},"traffic_boost_suggestions_count":0,"meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"BioSteel creditors list shows company owes millions to the who’s who of sports","url":"http:\/\/infonews.ca\/in420\/news\/812\/biosteel-creditors-list-shows-company-owes-millions-to-the-whos-who-of-sports-2\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/infonews.ca\/in420\/news\/812\/biosteel-creditors-list-shows-company-owes-millions-to-the-whos-who-of-sports-2\/"},"thumbnailUrl":"https:\/\/infonews.ca\/in420\/wp-content\/uploads\/sites\/3\/MediaItemID100607-5400.jpg?w=150&h=150&crop=1","image":{"@type":"ImageObject","url":"https:\/\/infonews.ca\/in420\/wp-content\/uploads\/sites\/3\/MediaItemID100607-5400.jpg"},"articleSection":"featured3","author":[{"@type":"Person","name":"Howard Alexander"}],"creator":["Howard Alexander"],"publisher":{"@type":"Organization","name":"iN420","logo":""},"keywords":[],"dateCreated":"2023-09-19T15:42:22Z","datePublished":"2023-09-19T15:42:22Z","dateModified":"2023-09-20T05:00:00Z"},"rendered":"