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The NHL has secured a deal with Mitchell & Ness that will see the two entities collaborate on licensed apparel and accessories.
“Mitchell & Ness is at the cross-section of fashion, streetwear, culture, and authenticity, which is a sweet spot for hockey fans,” said NHL CBO and senior executive VP Brian Jennings.
- No terms of the deal have been disclosed.
- It covers all 32 NHL franchises.
- Michell & Ness has also signed deals with the NHLPA and NHL Alumni Association.
- The first collection of products will be available in November 2022.
The vintage sports jersey maker was acquired by Fanatics and several high-profile investors in February in a deal valued at $250 million — five times the amount Adidas sold it for to Juggernaut Capital Partners in 2016.
Investors in the acquisition included entrepreneur Maverick Carter, rappers Jay-Z, Meek Mill, and Lil Baby, and the TikTok-famous D’Amelio family. The consortium of investors own 25% of Mitchell & Ness, while the remaining stake is held by Fanatics — which is valued at $27 billion.
Perfect Timing
NHL commissioner Gary Bettman claims the league is set to generate a record $5.2 billion in revenue for the 2021-22 season, which concluded last week when the Colorado Avalanche defeated Tampa Bay Lightning in the Stanley Cup Final.
As a result, the league has raised its salary cap for the 2022-23 season to $82.5 million, marking the first increase in three years.
