Legends Live @Citi: Gary Bettman
HIGHLIGHTS
- Citi recently hosted National Hockey League Commissioner Gary Bettman as part of the firm's ongoing global speaker series, Legends Live @Citi, connecting audiences with leaders from different industries
- Gary discussed the league's successful business model, highlighting a salary cap system that has created competitive balance, record attendance and significant growth in franchise value
- Future priorities for the league include enhancing the fan experience through new technology, navigating evolving sports media rights to maximize game access and continuing to grow the sport's international presence in Europe
Citi hosted National Hockey League (NHL) Commissioner Gary Bettman for the latest session of Legends Live @Citi.
Gary is a legendary figure in sports who transformed the NHL from traditional operations into a modern global enterprise. Through diligent leadership, strategic innovation and steadfast conviction in his vision, he led the NHL to become one of the most prominent sports leagues today.
During the session, he shared candid reflections on building a high-performance league, navigating complex issues like labor relations and expansion, and leading one of the most significant transformations in sports history. He also discussed the accelerating impact of technology on fan engagement and the importance of continuous adaptation.
Gary Bettman, National Hockey League Commissioner
Gary Bettman has served as Commissioner of the National Hockey League since February 1, 1993, guiding the league through more than three decades of growth and transformation on and off the ice. During his tenure, the NHL has achieved significant increases in revenues, attendance, media reach and franchise values, while expanding across traditional, digital and global platforms. He was inducted into the Hockey Hall of Fame in 2018.
Gary has negotiated multiple long-term collective bargaining agreements with the NHL players’ association, providing sustained labor stability, and has overseen major multi‑billion‑dollar broadcast and digital media agreements in the United States and Canada. League revenues have increased more than tenfold during his time as Commissioner.
He guided the league through the COVID‑19 pandemic, including the completion of the 2019–20 and 2020–21 seasons, and more recently oversaw the creation of the Utah Hockey Club and the NHL’s return to best‑on‑best international competition.
On the ice, Gary has championed competitive balance, rule and officiating innovations, and the creation of the Department of Player Safety. Off the ice, he has supported signature events, technological advances such as puck and player tracking, and initiatives focused on community engagement, inclusion, and sustainability.
Before joining the NHL, Gary spent 12 years with the NBA and practiced law at Proskauer Rose. A native of Queens, New York, he graduated from Cornell University and NYU School of Law.
Leon Kalvaria, Global Chair of Banking, Citi
Leon Kalvaria is a member of the Global Banking Management Committee, and Citi’s Private Equity Investment Oversight Committee.[KK1.1] Previously, Leon was Chairman of Citi’s Institutional Clients Group. Before that, he was Global Head of Consumer and Healthcare Investment Banking.
Leon joined Schroders in 1996 as Global Head of Consumer Banking, and Citigroup in 2000 following the merger of the two companies.
Prior to Schroders, Leon served as Vice Chairman and a Director of Triarc Companies, an investment company, and as Managing Director in the Mergers & Acquisitions Group at Credit Suisse First Boston. Leon was also a pioneer in the interest rate swap market at First Boston and a founding member of ISDA.
Leon has advised numerous Chief Executive Officers and Boards of Directors in some of the largest and most complex global mergers and acquisitions, recapitalizations and public offerings.
Leon received his BA from Princeton University (Woodrow Wilson School of Public and International Affairs) and is a member of the Council on Foreign Relations, and Heineken Family Council.
