NBA and NHL worry about Diamond Sports reorganization, concerns raised in bankruptcy court

From CNBC: 2024-06-04 14:24:21

The NBA and NHL are worried about the future of Diamond Sports, operators of Bally Sports networks, which have been under bankruptcy protection since last year. Delay in reorganization plan approval could impact leagues’ ability to produce and air games for the upcoming seasons.

Concerns were raised in a bankruptcy court hearing about Diamond Sports’ ability to create a viable business plan and gain court approval to exit bankruptcy protection. Negotiations with stakeholders, including teams and distributors like Comcast, have hit roadblocks, potentially affecting the airing of local games.

Comcast’s recent blackout of Bally Sports networks for its customers, affecting MLB fans, adds to the challenges facing Diamond Sports. The company’s hefty debt load from Sinclair’s acquisition of the networks in 2019 further complicates its reorganization efforts. NBA and NHL teams are seeking alternative broadcast options amid uncertainties.



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