A last ditch hope that the MLB, NHL, and NBA would buy the failing Bally Sports-branded regional sports networks is unlikely to happen, according to a report from The New York Post.
The Diamond Sports Group — which operates the channels owned by Sinclair Broadcast Group — had been in discussions with the leagues to purchase the portfolio of channels for $3 billion, including the current debt. The Post claims that the company’s profitability forecast being slashed in half at the end of November made the leagues hesitant about paying a premium for the networks.
The report from the Post also claims the local streaming rights for the 14 MLB, 16 NBA, and 12 NHL teams are likely to eventually land with Apple, Amazon, and Facebook, according to sources.
“Right now, there is chaos. But we’ll be able to look back and say this is when a large tech company really entered the regional sports market,” an anonymous MLB team owner told The Post. “Right now, there is a large amount of people who don’t see games in their home markets. That’s not good for the sports leagues.”
The leagues are content to let the channels file for bankruptcy protection and see how those proceedings unfold rather than pay the $3 billion Diamond Sports Group has asked for in negotiations.
