We are one step closer to Sinclair launching its over-the-top streaming service. The company has secured a $600 million loan to support the platform’s launch.
More importantly, Bloomberg reports that the company is close to closing a deal with the NBA, though the league did not respond to a request for comment. Sinclair’s Bally Sports networks have the regional broadcast rights to sixteen of the league’s teams.
Last month, Sinclair and the NHL reached a deal that will give twelve hockey teams a presence on the new streaming platform. That would be enough to create a strong position in the market, but creditors have still been skeptical.
Major League Baseball has the potential to throw a wrench in the deal. First, the league demanded an ownership stake in any Sinclair streaming product. Less than a week later, word leaked that the league may be considering launching its own streaming service.
The players involved in the deal all declined to comment. That includes Sinclair as well as the loan’s creditors, which are bound by non-disclosure agreements.
