Sinclair said this week it has inked a financing deal with its bankrupt Diamond Sports Group that would allow the RSN to continue operations.
The “Restructuring Support Agreement” will see Sinclair pay $495 million to Diamond—which declared bankruptcy in 2023 with more than $9 billion in debt spread across its 19 Bally Sports regional sports networks. The payment will settle a $1.5 billion lawsuit filed by Diamond against Sinclair last summer in which the company was seeking to retrieve up to $1.5 billion in management fees it paid to Sinclair following Sinclair’s acquisition of Fox’s 19 RSNs (under the “Bally Sports Group” brand) from Disney.
