NHL's major partner to declare bankruptcy could negatively impact the salary cap for year's to come
Gary Bettman has done his part to try and grow the game over his tenure as Commissioner. Bettman has signed some exclusive partnerships with companies to try and increase the coverage of the game. Unfortunately for Bettman and the NHL one of those partners has found themselves in significant financial peril.
According to Puck Empire, Bally Sports Regional Sports Networks are in significant financial trouble finding themselves 55 billion dollars in debt.
Bally Sports RSN's are preparing for bankruptcy, including 12 NHL networks.
The company called Diamond Sports Group LLC, which runs Sincalirs sports channels, is reportedly $8.6 billion in debt. Sinclair is hoping to strike a deal to help them keep the channels operating thanks to bankruptcy.
In total, Sinclair owes $55 billion in sports-media rights, according to Bloomberg. A bankruptcy could put payments to the NBA and NHL at risk. It is being reported that Sinclair will skip a $140 million interest payment due in mid-February, starting a 30-day grace period for the company.
The company called Diamond Sports Group LLC, which runs Sincalirs sports channels, is reportedly $8.6 billion in debt. Sinclair is hoping to strike a deal to help them keep the channels operating thanks to bankruptcy.
In total, Sinclair owes $55 billion in sports-media rights, according to Bloomberg. A bankruptcy could put payments to the NBA and NHL at risk. It is being reported that Sinclair will skip a $140 million interest payment due in mid-February, starting a 30-day grace period for the company.
It is likely that the parent company will attempt to sever ties with multiple NHL clubs to try and save money. This could impact the following teams:
Los Angeles, Anaheim, Arizona, Dallas, St. Louis, Minnesota, Detroit, Columbus, Nashville, Carolina, Tampa Bay, and Florida.
If the NHL loses out on this possible payment this could have long reaching impacts across the NHL and the salary cap for years to come.
| POLL | ||
Should the NHL get rid of the salary cap? | ||
| Yes, get rid of it completely | 71 | 30.2 % |
| No, go to a soft cap | 89 | 37.9 % |
| Keep the current system | 75 | 31.9 % |
| List of polls | ||
MUST READ
Previously on Bladeofsteel
TOP 5
