Sinclair (Bally Sports) Facing Bankruptcy.

takethepoints

Helluva Engineer
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Couldn't happen to a more deserving bunch of people. These guys make Fox News look like the NYT.

And, unlike some here, I'm not particularly cheering for more - or even the same amount - of coverage of college football. Attendance is down everywhere. The reason is obvious: why go through all the hassle of actually going to a, for instance, Tech game if you can snap open a brewski and watch it at home? At 76 (and 16 days from 77) this is a hard argument to beat. I bought season tickets again, but I'd be surprised if I use them even half the time. If, that is, I can watch Tech on tv. If I can't, then I'll get off my rump and go to the games. I'm betting there are more then a few Tech fans who are just like me.

I know all the arguments for tv covering the games. I know it brings in money and creates recruiting presence everyone needs these days. It also lowers attendance. Full Stop.
 

ChicagobasedJacket

Jolly Good Fellow
Messages
420
SuperToe said:
There was a quote from Diamond Sports’ COO in The Athletic that may be of interest:

If Diamond Sports can’t make their payment in the 30 day grace period or renegotiate the deal, ACC broadcasts may be off Bally as soon as this fall.
Click to expand...
I hope we (the ACC) can resell those rights for more money.
 
RonJohn

RonJohn

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4,993
SuperToe said:
There was a quote from Diamond Sports’ COO in The Athletic that may be of interest:

If Diamond Sports can’t make their payment in the 30 day grace period or renegotiate the deal, ACC broadcasts may be off Bally as soon as this fall.
Click to expand...
I am not a corporate BK expert, but usually if a company actually files, creditors can't take action against the debt until the courts come to some resolution. I suspect the courts will decide what happens to all of the rights contracts. Might be good, might be bad, but it is usually unpredictable what will happen when you get into court.
 
UgaBlows

UgaBlows

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takethepoints said:
Couldn't happen to a more deserving bunch of people. These guys make Fox News look like the NYT.

And, unlike some here, I'm not particularly cheering for more - or even the same amount - of coverage of college football. Attendance is down everywhere. The reason is obvious: why go through all the hassle of actually going to a, for instance, Tech game if you can snap open a brewski and watch it at home? At 76 (and 16 days from 77) this is a hard argument to beat. I bought season tickets again, but I'd be surprised if I use them even half the time. If, that is, I can watch Tech on tv. If I can't, then I'll get off my rump and go to the games. I'm betting there are more then a few Tech fans who are just like me.

I know all the arguments for tv covering the games. I know it brings in money and creates recruiting presence everyone needs these days. It also lowers attendance. Full Stop.
Click to expand...
Hi-def tv’s and more/better camera angles have really improved the tv watching experience, I love the excitement of being at a game, but I can actually see the plays SO much better at home
 
RonJohn

RonJohn

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UgaBlows said:
Hi-def tv’s and more/better camera angles have really improved the tv watching experience, I love the excitement of being at a game, but I can actually see the plays SO much better at home
Click to expand...
I have to both agree and disagree with this. You can see better replays with different angles and such. However, TV never shows the entire field. You can see things at the game that you just cannot see on TV, such as when a receiver breaks wide open. On TV, they will stay at the line of scrimmage and focus on the pocket and the QB until he throws the ball. At the game, I can see that the receiver is wide open and will stand up cheering well before the QB throws the ball. I can then go home and rewatch the game on the DVR to see all of the different angles and to see if I agree with calls or not.

I guess what I am saying is that TV doesn't compare to being at the stadium for live action, but being at the game doesn't compare to TV for the ability to replay and analyze.
 
SuperToe

SuperToe

Georgia Tech Fan
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86
RonJohn said:
I am not a corporate BK expert, but usually if a company actually files, creditors can't take action against the debt until the courts come to some resolution. I suspect the courts will decide what happens to all of the rights contracts. Might be good, might be bad, but it is usually unpredictable what will happen when you get into court.
Click to expand...
You may be right. I was thinking about the possibility that the ACC may have a termination clause for non-payment. I've read that at least some of the MLB teams have such a clause in their contracts.

Even if they could exit the deal, they may not be able to find a better deal. The games might end up on ACCNX or ESPN+.
 
RonJohn

RonJohn

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SuperToe said:
You may be right. I was thinking about the possibility that the ACC may have a termination clause for non-payment. I've read that at least some of the MLB teams have such a clause in their contracts.

Even if they could exit the deal, they may not be able to find a better deal. The games might end up on ACCNX or ESPN+.
Click to expand...
The article said that they were in the grace period for the ACC contract, so it seems certain that the ACC contract does have a termination policy for non-payment. However, bankruptcy courts cancel and modify contracts all of the time. That is basically the majority of what they do. If it is a restructuring type of bankruptcy, then the court could mandate that the contracts be rewritten to include a lesser payment. If it is a going out of business type bankruptcy, then the court could either terminate the contracts or decide that the contracts are assets and sell them to the highest bidder to split money for all of the creditors. (At least those are the kinds of things that my non-lawyer, non BK expert mind can think of)

The best resolution for the fans will be for the contracts to be voided so that the games can be on something that people can actually watch.
 
slugboy

slugboy

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Staff member
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11,490
If you’re a company facing bankruptcy and overwhelming debt, you default on the debts with the least consequences first. If they’re defaulting on the ACC debt and if they’re smart, then either they’re worried less about the loss or the contract terms are more forgiving.
It could be seasonal—baseball and NBA basketball are NOW—but it gives you the idea that there’s at least more money NOW in the other contracts, or the terms are easier for them with the ACC than with the others.
 
SuperToe

SuperToe

Georgia Tech Fan
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Here's an update on Diamond failing to pay the Diamondbacks for their rights, which indicates how things may go with the ACC and other sports properties. TLDR - Despite the default, Bally will continue to broadcast Diamondbacks games until MLB takes Diamond to court to take back the broadcast rights.

www.axios.com

How Bally Sports' bankruptcy will impact Arizona Diamondbacks fans

The company said Tuesday it will continue to pay its rights fees — except to the Diamondbacks.
www.axios.com www.axios.com
 
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