Jul 12, 2011, 1:18 PM EDT
For a while, it seemed like the NHL and Molson-Coors would suffer a serious hangover after celebrating their “monster” $375 million+ sponsorship deal.
The Ontario Superior Court agreed with rival brewer LaBatt (which is under the Anheuser-Busch umbrella, by the way) that the NHL violated a good faith agreement when it made that agreement with Molson-Coors. The NHL and Molson-Coors decided to appeal the decision and can now sip victory from the legal Stanley Cup today as the Ontario Court of Appeal took their side. Long story short, it means that the $375 million+ deal is back on.
Here is the requisite victory quote/release from Molson-Coors.
“Molson Coors Canada feels vindicated by Ontario Court of Appeal’s ruling today to reinstate our NHL sponsorship and are thrilled to be able to pursue our aspiration of delighting fans of the NHL this season and beyond,” Molson-Coors Canada CEO Dave Perkins said in a statement issued shortly after the ruling was released Tuesday.
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