LATEST | Emergency Board of Governors meeting and it's catastrophic for the NHL
A massive part of the NHL's revenue comes from the TV deals and now the NHL has just been hit with a catastrophic news in that regard.
The Diamond Sports subsidiary of Sinclair Broadcast Group has skipped a $140 million debt payment and they will enter their 30-day period of grace before filing for Bankruptcy.
Where this gets complicated for the NHL is that Diamond holds the right to 19 regional sports networks. Full Article:
Confirmed by Michael Russo, the NHL has called an emergency Board of Governors meeting to discuss the situation.
This defaulted payment could result in Los Angeles, Anaheim, Arizona, Dallas, St. Louis, Minnesota, Detroit, Columbus, Nashville, Carolina, Tampa Bay, and Florida all losing their coverage and providing these markets with no television deals. These teams were all previously covered by Bally Sports Networks.
We'll give an update as soon as we know more.
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