The filing for bankruptcy of Diamond Sports Group, more often referred to by sports fans as the Bally Sports regional sports networks, was, nevertheless, the most significant development of the last week (RSNs). The Chapter 11 petition, which has been anticipated for months, could have monumental repercussions for the finances of MLB, NBA, and NHL franchises. Many of these franchises own equity in their local Bally Sports affiliate and have come to rely on the substantial annual checks that they receive from the affiliate in exchange for their local TV rights. The Chapter 11 petition is expected to be filed in the coming months.
These effects are already having an impact on the values of MLB teams. According to the data provided by Sportico, while valuations throughout the league as a whole increased by 2% over the course of the previous year, the values of 10 teams fell. It doesn’t happen very often in the major sports played in the United States. The Colorado Rockies have had a decrease of 4%, while the Pittsburgh Pirates have experienced a decrease of 3%.
In addition, they discuss the highlights of Sportico’s attendance at the SXSW conference in Austin, Texas, which took place over the course of three days. They discuss the key insights and entertaining tales from the sessions that included NFL wide receiver Stefon Diggs, WNBA star Nneka Ogwumike, and Olympic gold medalist Apolo Ohno in speedskating.
Last but not least, the hosts talk about the unique NHL broadcast that took place on Tuesday night. A live National Hockey League game was broadcast by Disney and ESPN utilizing the characters and a cartoon ice rink from the famous television show “Big City Greens.” It is the most recent big sports broadcast to have an alternative channel that is geared specifically for children. The National Football League (NFL) has shown a number of its postseason games on Nickelodeon in recent years.