Diamond Sports Group, which operates the Bally Sports Network, files for Chapter 11
Diamond Sports Group, a subsidiary of Sinclair Broadcast Group, which operates 19 Barry Sports regional sports networks, filed for Chapter 11 bankruptcy on Tuesday.
Previously, Diamond missed a $140 million interest payment due on February 15th.
In a statement, Diamond has $425 million on hand and plans to continue broadcasting on the Bally Sports network during bankruptcy-imposed restructuring, clearing more than $8 billion in debt said it can.
Diamond will also be spun off from Sinclair as part of bankruptcy proceedings.
The Bally Sports Network includes 16 National Basketball Association teams, 14 Major League Baseball teams, and 12 National Hockey League teams. Here are the teams televised on Bally Sports:
• Arizona: Diamondbacks (MLB), Phoenix Suns (NBA), Coyotes (NHL).
• Detroit: Tigers (MLB), Red Wings (NHL), Pistons (NBA).
• Miami: Marlins (MLB), Heat (NBA), Florida Panthers (NHL).
• Tampa Bay: Lightning (NHL) and Rays (MLB).
• Ohio: Cleveland Guardians (MLB), Cincinnati Reds (MLB), Columbus Blue Jackets (NHL), Cleveland Cavaliers (NBA).
• St. Louis: Blues (NHL) and Cardinals (MLB).
• Minnesota: Wild (NHL), Twins (MLB), Timberwolves (NBA).
• Milwaukee: Bucks (NBA) and Brewers (MLB).
• Los Angeles: Clippers (NBA), Angels (MLB), Kings (NHL), Anaheim Ducks (NHL).
• Dallas: Stars (NHL), Mavericks (NBA), Texas Rangers (MLB).
• Atlanta: Braves (MLB) and Hawks (NBA).
• Tennessee: Nashville Predators (NHL) and Memphis Grizzlies (NBA).
• North Carolina: Carolina Hurricanes (NHL) and Charlotte Hornets (NBA).
• San Antonio Spurs (NBA).
• Orlando Magic (NBA).
• San Diego Padres (MLB).
• New Orleans Pelicans (NBA).
• Kansas City Royals (MLB).
• Indiana Pacers (NBA).
• Oklahoma City Thunder (NBA).
Diamond is currently making payments to NHL and NBA teams, but still owes nearly $1 billion in rights payments for the first quarter of fiscal 2023, most of which are to MLB teams, according to the Associated Press. is for
The NBA and NHL regular seasons are coming to an end, but the MLB regular season begins March 30.
Payments to baseball teams may be withheld as the company attempts to renegotiate contracts with the San Diego Padres, Cleveland Guardians and Cincinnati Reds. Diamond has not yet paid for the rights to the Arizona Diamondbacks.
MLB has the infrastructure in place to take over local broadcasts should Bally’s baseball broadcasts become unsustainable. Games air on MLB Network cable channels or streamed on MLB.tv.
“Despite Diamond’s economic situation, there is every expectation that they will continue to televise every game they are committed to… MLB will continue to do so if Diamond or other regional sports networks are unable to do so. “We are prepared to produce and distribute the game in our local marketplace in preparation for ..as required by an agreement with our club,” MLB said in a statement.
In comments during February’s NBA All-Star Weekend, NBA Commissioner Adam Silver said: During that time, we will be ready to continue delivering these games to our fans as needed. ”
https://www.washingtontimes.com/news/2023/mar/15/diamond-sports-group-operator-bally-sports-network/?utm_source=RSS_Feed&utm_medium=RSS Diamond Sports Group, which operates the Bally Sports Network, files for Chapter 11