Diamond Sports Group, a Sinclair Broadcast Group subsidiary that operates 19 Bally Sports regional sports networks, filed for Chapter 11 bankruptcy on Tuesday.
In a statement, Diamond said it had $425 million on hand, and that it plans to keep the Bally Sports networks on the air during the bankruptcy-imposed restructuring, which will help clear over $8 billion in debt.The Bally Sports networks carry 16 National Basketball Association teams, 14 Major League Baseball teams, and 12 National Hockey League teams. The teams airing on Bally Sports are:• Detroit: The Tigers , the Red Wings , and the Pistons .
Payments to baseball teams may be withheld as the company attempts to renegotiate their deals with the San Diego Padres, Cleveland Guardians, and Cincinnati Reds. Diamond has not yet paid for the rights to the Arizona Diamondbacks.
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