Diamond Sports Group Officially Files For BankruptcySo we still get all the games on Bally?
The most notable development for fans of teams whose local broadcasting deals are carried through Bally is that the company confirmed the RSN “will continue to operate in the ordinary course during the Chapter 11 process.” The corporation added it has approximately $425MM in cash to fund the business during its restructure.
Here’s the key part…Yeah, this doesn’t pass the smell test at all
I don’t see how that’s going to work.Kosman reported yesterday that Diamond would try to restructure its deals with some of the clubs but was planning to entirely reject its contracts with the Diamondbacks, Padres, Guardians and Reds. (Diamond didn’t provide any specifics on its planned course of action in today’s release.)
According to the Post, MLB is planning to step up for teams whose contracts are abandoned and stream them in-market for free while the league searches for alternatives. There’ll surely be more developments over the coming weeks and months,