The NHL has stepped up its efforts to protect its earnings as Diamond Sports Group (DSG), the parent company of Bally Sports, finds itself in the midst of a bankruptcy situation.
Bally Sports is in charge of broadcasting the games of 12 NHL teams, a situation that has prompted the league to act swiftly in search of a solution or emergency funds. With DSG facing a staggering $9 billion debt in its bankruptcy filing, there's legitimate concern about the future of these broadcasting rights.
The list of teams affected includes the Anaheim Ducks, Arizona Coyotes, Carolina Hurricanes, Columbus Blue Jackets, Dallas Stars, Detroit Red Wings, Florida Panthers, Los Angeles Kings, Minnesota Wild, Nashville Predators, St. Louis Blues, and Tampa Bay Lightning.
According to sources, the NHL is currently engaged in a legal battle with Diamond Sports Group, the parent company of Bally Sports. The league is reportedly exploring the possibility of emergency relief funds if negotiations fail to reach a quick resolution. Bally Sports currently holds the media rights for 12 organizations. The ongoing situation has been intensified by a Texas judge extending DSG's reorganization deadline to September 30th. The NHL is keen on breaking the contract well ahead of this date.
Back on March 14, 2023, Diamond Sports Group filed for Chapter 11 bankruptcy, revealing a staggering $9 billion debt that they are unable to manage. The NHL's actions underscore the importance of securing the stability of the game and the teams that contribute to its spirit.
