Bally Sports Going Bankrupt??

Just read that Bally Sports is behind some $140 million in interest payments. And they may be on the verge of bankruptcy. Crazy. Wonder what that would mean for Twins, Wolves, and Wild TV viewing…?

Still can’t post a link apparently lol

lindyrig79 wrote:

Still can’t post a link apparently lol

It’s about 50/50 for me.

just read it too. sounds like they owe couple hundred mill to the billionaire owners…..rich people problems

Oh no. This is a disaster……said no person ever.

I’ve never had Bally Sports nor desired to. Baseball is a radio in the background or in person deal. I can’t stand watching it on tv nor do I have the time to devote 4 hours per game. The Wolves were supposed to be so good this year yet aren’t- shocker.

That company completely failed at bringing even a remotely competent product to the consumers. I’m not surprised at all.

Good for them, greedy bastages.

I can’t remember if it was a Bally’s thing or if FSN ended relationships with two major streaming services before it switched over, but c’mon! they had to have seen this coming. Especially in a tougher economy -people aren’t going to pay premium prices to watch mediocre sports teams. Literally costs 20-25% the cost-per-month of Hulu Live or YouTubeTV for one network… and airs disappointment after disappointment, choke after choke. I love my MN sports, but not going to pay that much to be tortured. Honestly I’ve been enjoying my time away from the live broadcasts, still follow the results and watch the highlight reels on YouTube for free.

Hopefully this gets sorted out in a way that the general streaming customer benefits, but not holding my breath.

ThunderLund78 wrote:

I can’t remember if it was a Bally’s thing or if FSN ended relationships with two major streaming services before it switched over, but c’mon! they had to have seen this coming. Especially in a tougher economy -people aren’t going to pay premium prices to watch mediocre sports teams. Literally costs 20-25% the cost-per-month of Hulu Live or YouTubeTV for one network… and airs disappointment after disappointment, choke after choke. I love my MN sports, but not going to pay that much to be tortured. Honestly I’ve been enjoying my time away from the live broadcasts, still follow the results and watch the highlight reels on YouTube for free.

Hopefully this gets sorted out in a way that the general streaming customer benefits, but not holding my breath.

Agreed. But I do like how the network supports Minnesota amateur hockey. I’ve got out state hockey friends that are envious that high school hockey is televised.

Wonder if this could change their relationship with some of the streaming services as others have mentioned. They got into a stalemate and it looks like Bally may be the one to lose. Maybe settle for less and go back to places like Youtube TV…..your current revenue from them is $0, that’s not helping your financial situation.

ThunderLund78 wrote:

I can’t remember if it was a Bally’s thing or if FSN ended relationships with two major streaming services before it switched over, but c’mon! they had to have seen this coming. Especially in a tougher economy -people aren’t going to pay premium prices to watch mediocre sports teams. Literally costs 20-25% the cost-per-month of Hulu Live or YouTubeTV for one network… and airs disappointment after disappointment, choke after choke. I love my MN sports, but not going to pay that much to be tortured. Honestly I’ve been enjoying my time away from the live broadcasts, still follow the results and watch the highlight reels on YouTube for free.

Hopefully this gets sorted out in a way that the general streaming customer benefits, but not holding my breath.

Hockey day will be on all day in this guys garage while the kids skate.

I love Hockey Day in MN, but that’s one day. Used to love watching it on Hulu as part of my normal streaming package.

Amazon to the rescue.

http://www.espn.com/espn/story/_/id/39327963/amazon-invest-diamond-sports-part-bankruptcy-deal

Amazon to invest in Diamond Sports as part of bankruptcy deal
Associated Press
Jan 17, 2024, 08:34 AM ET
Share

Amazon will partner with Diamond Sports as part of a restructuring agreement as the largest owner of regional sports networks looks to emerge from bankruptcy.

Diamond owns 18 networks under the Bally Sports banner. Those networks have the rights to 37 professional teams: 11 MLB, 15 NBA and 11 NHL.

Diamond Sports has been in Chapter 11 bankruptcy proceedings in the Southern District of Texas since it filed for protection last March. The company said in a late 2021 financial filing that it had debt of $8.67 billion.

The terms of the agreement were announced by Diamond Sports on Wednesday morning. Amazon had no comment. It remains subject to approval by the bankruptcy court.

The agreement with Diamond Sports’ largest creditors allows it to emerge from bankruptcy, continue operations and prevents a total collapse of the regional sports network system where the NBA, NHL and MLB would have to step in to take over production and distribution of most of their teams.

Amazon will provide access to Diamond Sports’ content on Prime Video, where customers will be able to watch their local team’s games. EPA/CRISTOBAL HERRERA-ULASHKEVICH

Last season, MLB had to take over production and distribution of the San Diego Padres and Arizona Diamondbacks after Diamond let rights payments to the Padres lapse and was unable to agree to an amended deal with the Diamondbacks.

Under the terms of the restructuring agreement, Amazon will make a minority investment in Diamond and enter into a commercial arrangement to provide access to Diamond’s content via Prime Video.

Customers will be able to access their local team’s content on Prime Video channels where Diamond has rights. Pricing and availability will be announced at a later date. Regional sports content will also remain available on cable and satellite providers.

Diamond also has an agreement in principle with Sinclair to settle the pending litigation between the companies and the other named defendants. The settlement is supported by Diamond’s creditors that are parties to the RSA.

Sinclair Broadcast Group bought the regional sports networks from The Walt Disney Co. for nearly $10 billion in 2019. Disney was required by the Department of Justice to sell the networks for its acquisition of 21st Century Fox’s film and television assets to be approved.

Even before Sinclair bought the regional networks, the business was in a downturn due to cord-cutting and declines in advertising revenue after entering into exorbitant long-term deals with some teams.

Under an agreement with creditors last year, Diamond Sports Group became a separate company from Sinclair.

As part of the settlement, Sinclair will pay Diamond $495 million and provide ongoing services to support Diamond’s reorganization. The proceeds from the settlement will also pay off some creditors.

“We are thrilled to have reached a comprehensive restructuring agreement that provides a detailed framework for a reorganization plan and substantial new financing that will enable Diamond to operate and thrive beyond 2024,” Diamond Sports CEO David Preschlack said in a statement. “We are grateful for the support from Amazon and a group of our largest creditors who clearly believe in the value-creating potential of this business. Diamond’s near-term focus will be on implementing the RSA and emerging from bankruptcy as a going concern for the benefit of our investors, our employees, our team, league and distribution partners, and the millions of fans who will continue to enjoy our broadcasts.”

Diamond recently reached agreements with the NHL and NBA to keep local rights through the end of this season. It remains in discussions with MLB on reworked agreements for the upcoming season, with the next court hearing scheduled for Friday.

Jon Jordan wrote:

Amazon will provide access to Diamond Sports’ content on Prime Video, where customers will be able to watch their local team’s games.

Amazon Prime is a disaster. It would be a shame if all the Wild, Wolves, and Twins games were only streamed through Prime.

I watch a lot of outdoors shows on Bally’s, plus amateur local sports (Hockey Day) and college hockey, in addition to the pro sports. If it all goes to Amazon Prime, that’s the end of that for this guy.

I hate basketball, but I just looked, and the Wolves have the second best record in the league.

buckybadger wrote:

Oh no. This is a disaster……said no person ever.

I’ve never had Bally Sports nor desired to. Baseball is a radio in the background or in person deal. I can’t stand watching it on tv nor do I have the time to devote 4 hours per game. The Wolves were supposed to be so good this year yet aren’t– shocker.

mojogunter wrote:

I’ve never had Bally Sports nor desired to. Baseball is a radio in the background or in person deal. I can’t stand watching it on tv nor do I have the time to devote 4 hours per game. The Wolves were supposed to be so good this year yet aren’t– shocker.

Average MLB game time last season was 2hr 40m T wolves are 28-11 seems good to me.

I thought last week mlb wouldnt approve a deal with amazon cause they wanted control

gimruis wrote:

Amazon Prime is a disaster. It would be a shame if all the Wild, Wolves, and Twins games were only streamed through Prime.

Haha I thought the exact opposite, Bally’s was a disaster from the start and I’m pumped if/when it will be available on Prime! Amazon Prime had/has some buffering issues, but that seemed to be resolved for most of the football games I watched this year.

Hopefully prime can get their live stream figured out, their picture quality sucks and buffered a lot for me, Bally has been high quality streams. Along with my other streaming channels.

gregory wrote:

Hopefully prime can get their live stream figured out, their picture quality sucks and buffered a lot for me

Ya I don’t even try to watch thursday night football on it anymore because of that.

Bally’s is live TV at my house so its a non-issue.

Having to use Prime to watch these teams is going to suck. I hate using Prime for TV.

Just was reading that it will still be available for cable and satellite providers so hope i can still watch on directv.

JEREMY wrote:

<div class=”d4p-bbt-quote-title”>mojogunter wrote:</div>
I’ve never had Bally Sports nor desired to. Baseball is a radio in the background or in person deal. I can’t stand watching it on tv nor do I have the time to devote 4 hours per game. The Wolves were supposed to be so good this year yet aren’t– shocker.

Average MLB game time last season was 2hr 40m T wolves are 28-11 seems good to me.

His post is from a year ago (had me scratching my head as well until I realized)

We have prime by default because of my wife’s shopping habits, I don’t use it much on the TV but I did watch a few football games on Prime this year. Didn’t notice any quality issues on my end. If they’re gonna fire these broadcasts back-up on a major streamer, I’m glad it’s on a service I’m already paying for.