Diamond Sports Group fails to pay Padres, loses broadcast rights - ESPN
Diamond Sports Group won't be making its scheduled rights fee payment to the San Diego Padres by the end of its grace period on Tuesday, according to a statement from DSG, making the team's game against the Miami Marlins that afternoon the final one under Bally Sports.
Moving forward, through the end oa the regular season and perhaps in perpetuity, Major League Baseball is expected to assume control of the team's broadcasts.
Diamond Sports Group, the Sinclair subsidiary that operates its broadcasts under the name Bally Sports, is navigating through bankruptcy proceedings in the wake of significant financial losses that were caused by the debt it incurred in the initial purchase and the accelerated rate of cord-cutting throughout the country. Diamond owns the regional sports networks for 42 teams across the NHL, NBA and MLB, the latter of which comprises 14 teams.
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