If you have questions about the future of your team’s live games on your local cable, satellite or digital provider, particularly those on Bally Sports channels, we’re here to answer with what we know so far.
Diamond Sports Group, the Baltimore-based corporate parent of the 19 Bally Sports channels that air 47 NBA, MLB, NHL and WNBA teams, announced Feb. 15 that it would skip a $140 million debt payment due that day and use the month-long grace period as part of its effort to financially reorganize itself.
Many observers interpret the move as a precursor to a Chapter 11 bankruptcy reorganization, though that is not a certainty. Diamond has $8 billion-plus of debt, incurred as part of parent Sinclair’s 2019 purchase of the regional sports channels, and lost $1.2 billion in the most recent fiscal quarter.
“Certainly more likely that they will file bankruptcy because they did not make the payment,” said Schuyler Carroll, a bankruptcy attorney who is not connected to Diamond. “But not necessarily that they will file bankruptcy. They are still continuing discussions with their creditors to try and avoid bankruptcy. But those can often be difficult.”
Diamond in a Feb. 15 statement said it “intends to use the 30-day grace period to continue progressing its ongoing…
