How Trump’s Tariff Battle Could Impact the Edmonton Oilers and the NHL. As the Edmonton Oilers set their sights on the playoffs, a looming economic challenge could quietly be shaping their future: tariffs. While fans see hockey as a thrilling escape, the business side of the NHL is far from immune to global economic pressures, and U.S. President Donald Trump’s escalating tariff threats are creating uncertainty for Canadian teams at a critical time in the season.
The Hidden Cost of Tariffs in the NHL
The biggest financial concern for Canadian teams, including the Oilers, Winnipeg Jets, and Vancouver Canucks, is the impact of currency exchange rates on player salaries. University of Alberta sports management expert Brian Soebbing explains that all NHL salaries are paid in U.S. dollars, making fluctuations in the exchange rate a key financial factor. With the Canadian dollar hovering around 0.69 cents to the U.S. dollar, any further depreciation due to tariffs could put additional strain on Canadian franchises.
“So you could see if the exchange rate goes down, or if the Canadian dollar weakens, certainly that’s going to have an impact on how most of the revenue gets converted,” Soebbing said.
Teams earn revenue from ticket sales, merchandise, and concessions, all transacted in Canadian dollars, but they must convert those earnings to pay players’ salaries in U.S. dollars. A weaker Canadian dollar means teams have to spend more revenue to cover those contracts, creating a financial imbalance compared to U.S.-based teams.
The NHL’s Response to Economic Uncertainty
Historically, the league has managed to navigate fluctuations in the currency exchange, and NHL Commissioner Gary Bettman has acknowledged that the league is monitoring the situation closely. In a recent statement, Bettman assured that the NHL is prepared to make necessary adjustments should economic conditions worsen.
“If the Canadian economy is impacted to the extent that the (Canadian) dollar declines vis-a-vis the U.S. dollar, we do everything in U.S. dollars, so that will have an impact, potentially, on our Canadian clubs,” said Bettman. “If we have to make an adjustment, we will, but our hope and expectation is we’re still on track.”
While the league remains optimistic, the reality is that financial instability could force Canadian teams to reconsider roster decisions, long-term salary commitments, and even ticket pricing strategies to offset costs.
How Tariffs Could Affect Oilers Fans
Beyond front-office decision-making, the potential tariff-driven economic shifts could directly impact fans. Edmonton’s hospitality sector thrived during last year’s playoff run, generating $280 million over four rounds. However, if rising costs from tariffs cut into discretionary income, fans might rethink how much they’re willing to spend on tickets, merchandise, and in-game purchases.
“(Tariffs) will certainly probably play in the minds of what decisions every (person) makes in terms of going out or not going out,” Soebbing noted.
As costs rise, consumers often adjust their spending habits. Even so, Soebbing emphasizes that the excitement of a deep playoff run brings intangible benefits, such as city pride and community engagement, which are harder to measure but still significant.
“There is that feel-good feeling, that is impactful. It’s just a lot harder to measure, and it’s not, in the grand scheme of things, huge, but it is important to at least talk about as part of the conversation.”
Geopolitical Tensions on the Ice: A Playoff Rivalry Boost?
International tensions have a way of spilling onto the ice, as seen in February’s 4 Nations Face-Off tournament between Canada and the United States. The heated games, fierce rivalries, and even anthem-related controversies highlighted how geopolitical strife can fuel the passion of sports fans. Soebbing believes a similar energy could emerge if a Canadian team—“hopefully the Oilers”—faces a U.S. team in a high-stakes playoff matchup.
“I would anticipate that if things, let’s just say, stayed the same as we’ve seen it, I think you will see a lot of the same as we saw with 4 Nations,” Soebbing predicted. “If we’re thinking about our city against, let’s say a U.S. team, I think you will see that rawness again.”
The Road Ahead for the Oilers and the NHL
While the focus remains on the playoff race, the economic undercurrents shaped by U.S. trade policy and currency shifts could have lasting implications for Canadian NHL teams. The Oilers, like their counterparts across Canada, must navigate an evolving financial landscape while maintaining a competitive edge on the ice.
For now, fans are hoping that their team’s on-ice performance remains the primary story—rather than financial turbulence caused by international politics. But as the postseason looms, the intersection of sports and economics will continue to be a conversation worth following.
