RSN Ballys Sports (Diamond Group) Files for Bankruptcy

[R3P0]

Wonder how this was kept quiet, this is from 3 weeks ago

Sinclair’s Diamond Sports Group LLC, owner of the 19 Bally Sports regional sports networks, will declare bankruptcy next week according to a Sportico report. Instead of paying the $140 million interest fee payment, the group will file for Chapter 11. Currently, the company has only $585 million in cash on hand with TV rights payments to sports teams totaling $2 billion. The bankruptcy will have a large effect on NBA, MLB, and NHL teams, where local rights have been quite lucrative. Leagues have been planning for this eventuality for some time, with MLB commissioner Rob Manfred recently stating that the league is prepared to make the games available both through digital and cable.

Diamond Sports launched Bally Sports+, an over-the-top streaming service that allows consumers to watch their local RSN without cable for $20 a month in September 2022. At the year’s end, subscriber count was down 10%. A previous Bloomberg report indicated that Diamond Sports expects to emerge from bankruptcy court in May or June 2023. (Sportico 2.10)

[BizCat]

I hated that Cleveland (mainly Guardians, I believe) but other teams as well were in Bally as I couldn’t get it. Just wished these franchises would be aired in regular channels not hard to get.

[R3P0]

Originally Posted by BizCat

I hated that Cleveland (mainly Guardians, I believe) but other teams as well were in Bally as I couldn’t get it. Just wished these franchises would be aired in regular channels not hard to get.

This affects us here in Detroit as well, Tigers, Pistons and Wings all on Bally Sports

[R3P0]

As of Today Balleys is off air for anyone with Xfinity/Comcast.

My understanding this affects Detroit, Atlanta and Minnesota