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Sinclair (Bally Sports) Facing Bankruptcy.
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<blockquote data-quote="slugboy" data-source="post: 933033" data-attributes="member: 282"><p>They didn’t overpay for the rights directly. Sinclair overpaid for the company that owned the rights. The NBA and NHL got nothing when Sinclair overpaid—Disney got the extra $$$$$ and laughed all the way to the bank. </p><p></p><p></p><p>Largely what you said. </p><p></p><p>Here’s an analogy:</p><ul> <li data-xf-list-type="ul">Subway buys out Jimmy John’s sandwich shops nationwide </li> <li data-xf-list-type="ul">The FTC says “you have to sell off the shops across the street from your existing stores so there is competition </li> <li data-xf-list-type="ul">Subway finds a sucker company to buy the stores they aren’t keeping—let’s say their name is “Sinclair”. </li> <li data-xf-list-type="ul">Sinclair pays a ton of money for about 1/4th of the Jimmy John’s. They think “we have great sandwiches, we’ll double the price”. </li> <li data-xf-list-type="ul">Customers say “I don’t want a $22 ham sandwich”, which was Sinclair’s business model</li> <li data-xf-list-type="ul">Sinclair took over Jimmy John’s multi year contracts with lunch meat providers that they continue to pay at the same rate, such as “ACC roast beef”. </li> <li data-xf-list-type="ul">Sinclair goes belly up. The lunch meat providers are wondering if they’ll make the sale up elsewhere </li> </ul></blockquote><p></p>
[QUOTE="slugboy, post: 933033, member: 282"] They didn’t overpay for the rights directly. Sinclair overpaid for the company that owned the rights. The NBA and NHL got nothing when Sinclair overpaid—Disney got the extra $$$$$ and laughed all the way to the bank. Largely what you said. Here’s an analogy: [LIST] [*]Subway buys out Jimmy John’s sandwich shops nationwide [*]The FTC says “you have to sell off the shops across the street from your existing stores so there is competition [*]Subway finds a sucker company to buy the stores they aren’t keeping—let’s say their name is “Sinclair”. [*]Sinclair pays a ton of money for about 1/4th of the Jimmy John’s. They think “we have great sandwiches, we’ll double the price”. [*]Customers say “I don’t want a $22 ham sandwich”, which was Sinclair’s business model [*]Sinclair took over Jimmy John’s multi year contracts with lunch meat providers that they continue to pay at the same rate, such as “ACC roast beef”. [*]Sinclair goes belly up. The lunch meat providers are wondering if they’ll make the sale up elsewhere [/LIST] [/QUOTE]
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Sinclair (Bally Sports) Facing Bankruptcy.
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