The leading local provider for sports in the United States, Diamond Sports, has filed for bankruptcy following a debt of more than $8billion.
Diamond Sports operates 19 regional sports networks under the Bally Sports brand, and is the TV home for 42 teams across Major League Baseball, the National Hockey League and the National Basketball Association. The company also pay those teams for the rights to broadcast their games, but are in financial chaos.
The company missed out on a $140million interest payment last month, and filed for Chapter 11 bankruptcy protection on Tuesday evening. However, in a statement released by the company on Tuesday, they expect to keep operating through bankruptcy and state that coverage should not be affected.
