mjp28 Posted March 12, 2023 Report Share Posted March 12, 2023 BALLY TO FILE FOR BANKRUPTCY ..... what !? Read on. AND REMEMBER as we thought ...... It is reported that Sinclairs Diamond sports group has about $585 million cash in hand but owes about $2 billion in fees to teams this year. * DETAILS IN TRIBE FORUM WHEN AVAILABLE. Bally Sports Will Declare Bankruptcy Next Week By Luke Bouma on February 10, 2023 in All News, News Last week it was reported that Sincalir’s Sports Channels are preparing for bankruptcy, including Bally Sports RSNs. Now Sportico has confirmed that Bally Sports will declare bankruptcy next week. The company called Diamond Sports Group LLC, which runs Sincalirs sports channels, is reportedly $8.6 billion in debt. Sinclair is hoping to strike a deal to help them keep the channels operating thanks to bankruptcy. In total, Sinclair owes $55 billion in sports-media rights, according to Bloomberg. A bankruptcy could put payments to the NBA and NHL at risk. It is being reported that Sinclair will skip a $140 million interest payment due in mid-February, starting a 30-day grace period for the company. Since Sinclair bought Fox Sports RSNs, payouts from cable networks are reportedly drying up as companies are refusing to pay the high price Sinclair wants for its Bally Sports RSNs. Sinclair will likely seek to end some contracts with teams and cut back on payments to others. MLB has already announced that if Sinclair is unable to air MLB games because of bankruptcy, they will take back the rights and stream the games online. Quote Link to comment Share on other sites More sharing options...
mjp28 Posted March 12, 2023 Author Report Share Posted March 12, 2023 I found this on the KC Royals page .... there is more ..... Diamond Sports Group, the Sinclair Broadcasting-owned subsidiary that operates Bally Sports Kansas City, skipped a $140 million interest payment last week, triggering a 30-day grace period that will almost certainly preface a bankruptcy filing. Diamond Sports owns and operates 19 Bally-branded regional sports networks (RSNs), 14 of which own the rights to broadcast MLB teams, plus a minority stake in two additional baseball RSNs in Marquee Sports for the Cubs and YES Network for the Yankees. The potential bankruptcy filing for a company that purchased these networks for $10 billion in 2019 has sent shockwaves through the industry and has caused concern in baseball. Let’s talk about what’s going on and how it affects the Royals. Why is Diamond Sports going bankrupt? The first reaction from Royals fans about the potential bankruptcy of Diamond Sports might be “no kidding, ya knucklehead, you didn’t make games available to viewers!” Royals fans are no doubt frustrated over the company’s tough negotiating stance with streaming providers that led to Bally Sports Kansas City being dropped by YouTubeTV, SlingTV, and DISH Network. It hasn’t helped that Diamond Sports has made it difficult to watch games, or that they bought these networks just before a pandemic, or that by one conservative estimate, cable is losing 5 percent of its customer base each year. Bally Sports did roll out a direct-to-consumer streaming option last summer for $19.99 per month. But baseball refused to transfer all of their streaming rights to Bally’s, and the service knowns as Bally Sports+ was only available in a few markets (including Kansas City). Despite those obstacles, this was a profitable company in 2021 and 2022. As Ben Clemens from Fangraphs points out, “this bankruptcy has to do with debt service, not a catastrophic business failure.” Sinclair wanted to be a major broadcast player, so they took on $8.6 billion in debt to purchase the RSNs from Disney. The purchase boosted stock prices by 15 percent as CEO Chris Ripley dreamed of integrating sports gambling with their broadcasts. But the profits weren’t profitable enough. Diamond Sports - which was created to keep the RSNs at an arm’s length from Sinclair, perhaps an indication they knew how risky this endeavor would be - is too saddled with debt to dig out of their hole. --> CONTINUED --> I ALSO AM CHECKING MORE SOURCES. Quote Link to comment Share on other sites More sharing options...
mjp28 Posted March 12, 2023 Author Report Share Posted March 12, 2023 NOTE I'm looking all over for information and yes ... answers. TV Answer Man, I would like to cut cable and get Bally Sports Plus to watch my team, the Cleveland Guardians. But I know Bally may be bankrupt soon. Will that stop Bally Sports Plus from adding the Guardians before the season? — Jim, Cleveland. Jim, the regional sports network crisis has many fans confused with Bally Sports’ operating unit, Diamond Sports, possibly declaring bankruptcy later this month and Warner Bros Discovery threatening to stop broadcasting games on their AT&T-named RSNs by the end of March. But let’s examine how a Diamond Sports bankruptcy could affect Bally Sports Plus. Bally Sports Plus, which costs $19.99 a month or $189.99 a year, streams the live games of 16 NBA and 12 NHL teams, but it has only secured the streaming rights to five MLB teams thus far. They are the Detroit Tigers, Kansas City Royals, Miami Marlins, Milwaukee Brewers and the Tampa Bay Rays. See Amazon’s best-selling electronics! Sinclair Broadcasting, which owns Diamond, has frequently expressed hope that it will add more teams before the 2023 MLB season. (The nine teams that Sinclair/Diamond has not secured deals with are: Atlanta Braves, Cleveland Guardians, San Diego Padres, Arizona Diamondbacks, Cincinnati Reds, Texas Rangers, Minnesota Twins, St. Louis Cardinals, and Los Angeles Angels.) However, with bankruptcy looming, it’s difficult to envision a scenario where more MLB teams will agree to sell its rights to Diamond Sports before the season starts on March 30. Diamond seems interested in continuing the Bally Sports broadcasts but under a new financial arrangement with its creditors, including the leagues and their teams. The missing MLB teams would probably want to wait to see what Diamond has planned before moving forward with Bally Sports Plus. See Amazon’s best-selling electronics! In addition, MLB Commissioner Rob Manfred has suggested the league could take back Bally’s broadcasting rights if Diamond misses a payment due to a bankruptcy filing. Bottom line: The situation is too uncertain at this time for one of the nine missing MLB teams to make a deal with Diamond. Jim, hope that helps. Happy viewing and stay safe! Need to buy something today? Please buy it using this Amazon.com link. This site receives a small portion of each purchase, which helps us continue to provide these articles. Have a question about new TV technologies? Send it to The TV Answer Man at swann@tvanswerman.com Please include your first name and hometown in your message. Quote Link to comment Share on other sites More sharing options...
mjp28 Posted March 22, 2023 Author Report Share Posted March 22, 2023 So what's next ? Quote Link to comment Share on other sites More sharing options...
mjp28 Posted April 1, 2023 Author Report Share Posted April 1, 2023 On 3/22/2023 at 10:35 AM, mjp28 said: So what's next ? ★ NOTE : I SAW THIS FROM BALLY AT 2 PM SATURDAY APRIL 1, 2023 - NO JOKE. Friday, Mar 31, 2023 02:28 PM. ▪︎ How to watch Cleveland Guardians telecasts Bally Sports Great Lakes, the television home of the Guardians, will televise select spring training games in 2023 and all regular season games not selected for exclusive national broadcast. ★ How do I get Bally Sports Great Lakes? Bally Sports Great Lakes is widely available on cable, satellite, and streaming providers throughout the region. Visit www.getmyhometeams.com for options in your zip code. How can I stream Bally Sports Great Lakes’ Guardians coverage? Bally Sports Great Lakes’ Guardians coverage is available on DirecTV Stream and Fubo TV. Fans can also stream Bally Sports Great Lakes’ Guardians coverage on the Bally Sports app and BallySports.com as part of their pay-TV subscription by authenticating with their cable, satellite, or streaming provider credentials. Simply sign into the app using the pay-TV user ID and password. Are the Guardians available on Bally Sports Plus? No, not at this time. Where can I find streaming technical support? Visit http://help.ballysports.com or call 1-866-Bally01 (1-866-225-5901). ★ In what areas are Guardians games televised on Bally Sports Great Lakes? ★ Guardians regional TV territory, as defined by MLB, is northern and central Ohio, western Pennsylvania and portions of western New York. How do I watch the Guardians if I live outside the Guardians regional TV territory? MLB designates geographic territories to which each team can show its regionally televised games. Guardians fans outside of the Guardians regional TV territory can subscribe to MLB’s out-of-market packages, MLB.TV or MLB Extra Innings, to view games Quote Link to comment Share on other sites More sharing options...
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