BREAKING: The NHL Files Massive Lawsuit That's Affecting 12 Teams

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Sam Walker
August 19, 2023 (2:39 PM)

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NHL Acts Amid Diamond Sports Group Bankruptcy

The NHL has launched a legal effort to safeguard its revenue as Diamond Sports Group (DSG), the parent company of Bally Sports, faces bankruptcy.

Bally Sports holds broadcasting rights for 12 NHL teams, prompting the league to seek swift resolution or emergency funds. The bankruptcy filing by DSG, responsible for $9 billion in debt, has raised concerns about the stability of these rights.

Anaheim Ducks
Arizona Coyotes
Carolina Hurricanes
Columbus Blue Jackets
Dallas Stars
Detroit Red Wings
Florida Panthers
Los Angeles Kings
Minnesota Wild
Nashville Predators
St. Louis Blues
Tampa Bay Lightning

The NHL's move is a proactive response to the uncertain situation, aiming to ensure the continuation of broadcasting partnerships and financial stability for affected teams.

In an ongoing legal battle with Diamond Sports Group, the parent company to Bally Sports, the NHL is reportedly seeking emergency relief funds if negotiations are not settled quickly. Currently, 12 organizations have their media rights held by Bally Sports, and with a Texas judge extending DSG's reorganization deadline to September 30th, the NHL is seeking a contract break well before that date. On March 14, 2023, DSG filed for Chapter 11 bankruptcy, holding responsibility for a reported $9B in debt, with the inability to pay.

As seen on Hockeypatrol