A year after the entire offseason was spoiled by the business side of the game, a host of teams are once again facing major issues that have nothing to do with the product on the field. Diamond Sports Group LLC, operator of the Bally Sports regional networks, including in Detroit, has announced that they’re heading toward an $8.6 billion debt restructuring. The Sinclair owned company is reportedly set to stop paying interest on their debt within a few weeks, triggering a 30-day grace period before bankruptcy proceedings get underway.
The fundamental problem is the declining rate of cable television subscriptions while payments to franchises for broadcast rights have continued to climb.