NBA Hoops

Bally Sports’ Parent Company Files For Chapter 11 Bankruptcy

NBA Raises Projected Salary Cap For 22-23 To $122M

Diamond Sports, the parent company of Bally Sports Regional Networks, filed for Chapter 11 bankruptcy protection on Tuesday.

The company stated that its 19 regional sports channels will continue to operate as it negotiates with creditors to reduce its debt by an expected $8 billion.

There was a possibility for Diamond to drop underperforming RSNs, though that no longer appears to be the case.

Diamond currently has a streaming contract with 16 NBA teams, including the Hawks, Heat, Mavs, Clippers, Bucks, and Suns.  

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