BioSteel creditors list shows company owes millions to the who’s who of sports

Canopy Growth Corp. says it has obtained creditor protection for its BioSteel Sports Nutrition Inc. and intends to seek permission to sell the company. BioSteel sports drink logo is shown in Toronto on Tuesday, August 4, 2015. THE CANADIAN PRESS/J.P. Moczulski

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.

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.

READ MORE: Canopy Growth lands creditor protection for BioSteel business, intends to sell brand

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.

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.

– The Canadian Press

READ MORE: Canopy Growth to sell Hershey Drive facility back to Hershey Canada for $53M

To get the week’s latest must-read stories from the cannabis world direct to your inbox, sign up for our weekly newsletter at You can also follow us on Facebook, Instagram and Twitter.