National Hockey League involved in a very important legal battle to help them break a multi-million dollar contract
It doesn't happen often that a league like the National Hockey League tries to break a contract with a major partner. Give the current situation of the Diamond Sports Group, that's exactly what the NHL is trying to do.
During March of last year, Diamond Sports Group filed for Chapter 11 bankruptcy . In this filing the NHL immediately found themselves with more questions than answers. Bally Sports, who is a subsidiary of DSG, held the NHL viewing rights for 12 different NHL franchises.
Now the NHL is in a Texas courtroom and are trying to convince a judge to allow the league to fully break their contract. At this time, this is something the judge has been unwilling to do. Instead, DSG has been given a deadline of September 30th to get their funds in order.
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.
Bally Sports Network currently holds exclusive viewing rights for the following teams: Arizona Coyotes, Detroit Red Wings, Florida Panthers, St. Louis Blues, Minnesota Wild, Columbus Blue Jackets, Anaheim Ducks, Carolina Hurricanes, Nashville Predators, Dallas Stars, Tampa Bay Lightning, and the Los Angeles Kings.
The NHL is hoping to have a resolution in place well before the beginning of next season, but it appears that the clock is ticking on that and it becomes more and more unlikely everyday.
| POLL | ||
Should the NHL be allowed out of their deal with Bally Sports? | ||
| Yes, they can't pay their bills | 96 | 59.6 % |
| No, they signed a contract | 24 | 14.9 % |
| Just let the judge decide | 41 | 25.5 % |
| List of polls | ||
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