Bally Sports owner files for Chapter 11 bankruptcy

Diamond Sports Group, the largest owner of regional sports networks, filed for Chapter 11 bankruptcy protection on Tuesday. The move came after it missed a $140 million interest payment last month.

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Sports

March 15, 2023 - 1:50 PM

Lightning TV analyst Brian Engblom works from between the benches during a 2021 game at Amalie Arena. The company that owns Bally Sports-branded regional sports networks, which carry Rays and Lightning games, appears on the brink of filing for bankruptcy.

Diamond Sports Group, the largest owner of regional sports networks, filed for Chapter 11 bankruptcy protection on Tuesday. The move came after it missed a $140 million interest payment last month.

Diamond owns 19 networks under the Bally Sports banner. Those networks have the rights to 42 professional teams — 14 baseball, 16 NBA and 12 NHL.

The company said in a release Tuesday night that it expects to continue to operate during the bankruptcy process and that coverage of games should not be affected.

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