We now know exactly how much money Hockey Canada lost from ended sponsorships

Hockey Canada is going to big digging themselves out of a financial hole of their own creation for decades according to a report from the Financial Post.

In a statement to the Post, Hockey Canada says that the "loss of sponsor support has been significant" totalling $23.5 million in lost sponsorship dollars from sponsors who either suspended or outright cancelled partnerships after revelations emerged this past summer that Hockey Canada paid out millions of dollars in sexual misconduct claims going back decades.

Initially, sponsors stayed on when news broke about members of the organization's 2018 World Juniors team allegedly sexually assaulting an unresponsive female and video-taping the entire interaction. To put things bluntly, members of the team were essentially accused of gang-raping a young woman and then gas-lighting her into retracting the allegations with authorities. Soon after more and more stories started to emerge in the public's eye and one by one sponsors started to drop Hockey Canada. First up was Scotiabank, then Tim Hortons... in the end Hockey Canada lost nearly all of its sponsors with the likes of Canadian Tire, Esso, Telus, Bauer, Nike and Chevrolet all pulled or reduced funding.

According to Hockey Canada's own 2020-21 fiscal year end report, these sponsorships accounted for 43% of their revenue. So, in effect Hockey Canada has lost nearly half of its operating funds. Yikes.... that hardly seems sustainable to me.

“The demands of Canadians, echoed by sponsors, for leadership change have been heeded,” Hockey Canada said in a statement when they finally, mercifully made the decision to have its executive board resign. Really though... did they have a choice? When you lose 43% of your funding due to mismanagement, there's no other choice but to resign. Some sponsors like Scotiabank and Canadian Tire have left the door open to continuing their partnership when they're “confident the right steps are being taken to improve the culture within the sport — both on and off the ice," according to Scotiabank.

In the meantime, Hockey Canada's officials are scheduled to testify once again to the federal government's Heritage Committee tomorrow afternoon. Lord only knows what new developments will come out of that. Stay tuned.