NHL selling stake in Disney Streaming Services for $350 million

Elsa/Pool Photo-USA TODAY SportsThe NHL is picking up some needed cash after a pandemic-impacted 2021 season.

The National Hockey League is reportedly selling its 10 percent stake in Disney Streaming Services for $350 million.

The NHL reportedly lost an estimated $3.6 billion in revenue last season due because of limited game attendance across the league and a shortened schedule. In January, Commissioner Gary Bettman told the media the league would have actually saved money if games were canceled.

Because of those losses, the league is exercising an option in its contract with Disney that triggered a sale of the stake on Aug. 3. The deal, initially reported by The Hollywood Reporter, is…