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Thread: Bally Sports possible bankruptcy?

  1. #346
    Rally Onion! Chip R's Avatar
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    Re: Bally Sports possible bankruptcy?

    Bally Sports may be looking to Hulu and YouTube TV to save their channel.

    https://cordcuttersnews.com/bally-sp...e-the-channel/
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  3. #347
    Member Ron Madden's Avatar
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    Re: Bally Sports possible bankruptcy?

    MLB pushes bankrupt broadcaster to ditch or commit to 2024 TV deals

    Major League Baseball on Wednesday pushed a bankrupt sports broadcaster to cancel or clearly commit to five teams' TV broadcast contracts, saying the teams can't plan for the 2024 season without clarity on their TV contracts.

    MLB asked a U.S. bankruptcy judge in Houston, Texas to force Diamond Sports Group to make a clear decision on whether it will broadcast 2024 games for the Atlanta Braves, Cleveland Guardians, Detroit Tigers, Milwaukee Brewers and Texas Rangers.

    MLB asked the court to compel a contract decision late Wednesday, along with a separate filing opposing Diamond's request for more time to file a restructuring plan with the court.

    MLB warned that the league could find itself scrambling to broadcast games for multiple teams next year, as it did this year for the Arizona Diamondbacks and San Diego Padres.

    "At the moment, MLB and the Clubs can only guess which Clubs the Debtors may continue to support and which may be left without a telecast partner," MLB said

    https://www.reuters.com/legal/litiga...ls-2023-10-12/

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  5. #348
    Rally Onion! Chip R's Avatar
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    Re: Bally Sports possible bankruptcy?

    What could happen if the Bally RSNs go belly up.

    https://cordcuttersnews.com/if-bally...thing-we-know/
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  6. #349
    Rally Onion! Chip R's Avatar
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    Re: Bally Sports possible bankruptcy?

    Bally Sports may drop the Reds during or after next season.

    https://www.msn.com/en-us/sports/mlb...c16e448d&ei=26
    Last edited by Chip R; 11-29-2023 at 05:24 PM.
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  7. #350
    Mailing it in Cyclone792's Avatar
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    Re: Bally Sports possible bankruptcy?

    Quote Originally Posted by Chip R View Post
    Bally Sports may drop the Reds during or after next season.

    https://www.msn.com/en-us/sports/mlb...c16e448d&ei=26
    Interesting article snip ...

    About a decade ago, regional sports networks reached about 80% of the population in Greater Cincinnati and in most markets.

    "Now that figure is around 40%. But those networks in most cases are locked into long-term rights fees paid to teams based on viewership numbers from several years ago. The Reds, for example, signed a deal with Bally Sports in 2016 to begin broadcasts in 2018. That deal pays the Reds about $60 million a year, an industry insider told me. The Reds also have equity in Bally Sports Ohio as part of the deal. But those figures were based on distribution and viewership that has since declined.

    "If Bally drops its contract with the Reds, the team would lose that $60 million annual rights fee and have to try to make it up with another contract or by generating its own income from ad sales for TV broadcasts. But neither is likely to approach the $60 million Bally paid, so the team's budget and most likely player payroll would be affected.
    It's not surprising they lost so many subscribers when multiple TV providers dropping them like rats fleeing a sinking ship.

    It'd be nice if the implosion happened before 2024, but it sounds like we're going to have to do the Bally dance for another season to get the Reds on TV.
    The Lost Decade Average Season: 74-88
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  9. #351
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    Re: Bally Sports possible bankruptcy?

    Am I the only one stunned that the Reds are potentially getting $60 mil/year solely from tv rights?

    Makes the ownership group look even worse than I imagined.

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  11. #352
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    Re: Bally Sports possible bankruptcy?

    Quote Originally Posted by Coopdaddy67 View Post
    Am I the only one stunned that the Reds are potentially getting $60 mil/year solely from tv rights?

    Makes the ownership group look even worse than I imagined.
    Nope, not in the least. Until they open their books there is no reason to believe the "we can't compete" BS lines you hear from billionaires and their sons.

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  13. #353
    I rig polls REDREAD's Avatar
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    Re: Bally Sports possible bankruptcy?

    Honestly, the dream scenario is that each MLB team runs it's own broadcast or at least has a massive stake in the business.
    Put out a good team, get rewarded with good ratings, higher commercial rates, more income.

    These contracts that give the Reds 60 million/year (or whatever) locked in for a long time just encourage tanking.

    If the Reds had actually tried to compete the last 5 years, maybe Bally wouldn't have them on the top of the list of teams to drop.
    Part of cord cutting (what I went through) was thinking.. "Is it really worth paying an extra $150/month for cable, just to watch the Reds?" When the Reds suck, it isn't. I'm sure the Reds will not self assess that. I eventually found a way to stream them, but if the price of that gets too high, it's not going to be a huge loss (unless the Reds actually start acting like a MLB , which maybe they will do in 2024).
    [Phil ] Castellini celebrated the team's farm system and noted the team had promising prospects who would one day be great Reds -- and then joke then they'd be ex-Reds, saying "of course we're going to lose them". #SellTheTeamBob

    Nov. 13, 2007: One of the greatest days in Reds history: John Allen gets the boot!

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  15. #354
    Goober GAC's Avatar
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    Re: Bally Sports possible bankruptcy?

    Quote Originally Posted by Kinsm View Post
    Nope, not in the least. Until they open their books there is no reason to believe the "we can't compete" BS lines you hear from billionaires and their sons.
    I never bought ownership's BS; but why would any organization open their books for public scrutiny?
    "In my day you had musicians who experimented with drugs. Now it's druggies experimenting with music" - Alfred G Clark (circa 1972)

  16. #355
    Rally Onion! Chip R's Avatar
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    Re: Bally Sports possible bankruptcy?

    Quote Originally Posted by REDREAD View Post
    Honestly, the dream scenario is that each MLB team runs it's own broadcast or at least has a massive stake in the business.
    Put out a good team, get rewarded with good ratings, higher commercial rates, more income.

    These contracts that give the Reds 60 million/year (or whatever) locked in for a long time just encourage tanking.

    If the Reds had actually tried to compete the last 5 years, maybe Bally wouldn't have them on the top of the list of teams to drop.
    Part of cord cutting (what I went through) was thinking.. "Is it really worth paying an extra $150/month for cable, just to watch the Reds?" When the Reds suck, it isn't. I'm sure the Reds will not self assess that. I eventually found a way to stream them, but if the price of that gets too high, it's not going to be a huge loss (unless the Reds actually start acting like a MLB , which maybe they will do in 2024).
    I would guess it will be either a package where you can buy a month to month subscription for a certain price or a yearlong subscription that would be slightly cheaper than going month to month. Call me a cockeyed optimist but I think this could work out better for them if fans can get the network on any platform whether it be satellite, cable, streaming or phone. Let the invisible hand of the free market work for them instead of limiting content to a few choices. Make it available to anyone whether they live in West Chester, Paducah or Honolulu. None of this blackout crap. However, that will probably be the rub. Why would the Cubs and White Sox allow a Reds fan who lived in Chicago access to anothjer team's games?

    Quote Originally Posted by GAC View Post
    I never bought ownership's BS; but why would any organization open their books for public scrutiny?
    If the physical plant you run your business in is built with public money and you cry poor when asking the public for more money to maintain it then perhaps the public has a right to know if you are really losing money. And let's be honest here. A sports team that loses money is not the same as when the company you work at loses money. I think that's what the general public can't wrap their heads around. They think if the Reds lose money they will go out of business. With all the national TV money coming in, there is no way a team can go broke now. If running a sports franchise is so unprofitable why are these teams selling for so much money?
    Quote Originally Posted by Raisor View Post
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  18. #356
    Goober GAC's Avatar
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    Re: Bally Sports possible bankruptcy?

    Quote Originally Posted by Chip R View Post
    If the physical plant you run your business in is built with public money and you cry poor when asking the public for more money to maintain it then perhaps the public has a right to know if you are really losing money.
    Our gov't doesn't do it. Why should MLB owners? Can you show me an instance where this has occurred? Where the books were made public for the taxpayers to investigate? Would they even know what the heck they were reading? lol

    The taxpayers are already getting blackmailed or else to fund these stadiums. So unless there's some legal clause in the deal that covers accountability, a public disclosure of "opening the books", it ain't happening. Unless, of course, they are breaking the law. Even then, a private investigative firm, would be looking at the books. Not the public. Ripping off fans is not considered breaking the law.

    Most of your major corporations in this country are taxpayer-funded through tax abatements, incentives, etc. Did GMC or Chrysler open up the books for the public to see when we bailed them out?

    I understand what you're saying Chip, and I'm not in disagreement. This just isn't happening in the real world.
    Last edited by GAC; 12-01-2023 at 07:41 AM.
    "In my day you had musicians who experimented with drugs. Now it's druggies experimenting with music" - Alfred G Clark (circa 1972)

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  20. #357
    Member mth123's Avatar
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    Re: Bally Sports possible bankruptcy?

    Quote Originally Posted by GAC View Post
    Our gov't doesn't do it. Why should MLB owners? Can you show me an instance where this has occurred? Where the books were made public for the taxpayers to investigate? Would they even know what the heck they were reading? lol

    The taxpayers are already getting blackmailed or else to fund these stadiums. So unless there's some legal clause in the deal that covers accountability, a public disclosure of "opening the books", it ain't happening. Unless, of course, they are breaking the law. Even then, a private investigative firm, would be looking at the books. Not the public. Ripping off fans is not considered breaking the law.

    Most of your major corporations in this country are taxpayer-funded through tax abatements, incentives, etc. Did GMC or Chrysler open up the books for the public to see when we bailed them out?

    I understand what you're saying Chip, and I'm not in disagreement. This just isn't happening in the real world.
    Any corporation who makes stock available for purchase to the public on one of the stock exchanges has to file a quarterly financial statement with the Securities and Exchange commission. Those are freely available to the public. Nobody else is required and as far as I know, none of these teams is a public corporation, so there is no requirement. The only way I see this changing is if the feds required MLB teams to file publicly in order to keep their anti-trust exemption, but that's not happening.

    Honestly, even if they did file publicly, most people would have no idea what it means. Heck, there are people on this very site, a site geared to knowledgeable baseball fans, who can't even interpret a simple stat sheet. I could only imagine how badly they would mis-interpret the Financial Statement of a multi-billion dollar entity like a big-league baseball team.
    "All I can tell them is pick a good one and sock it." --BABE RUTH

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  22. #358
    I rig polls REDREAD's Avatar
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    Re: Bally Sports possible bankruptcy?

    Quote Originally Posted by mth123 View Post
    Honestly, even if they did file publicly, most people would have no idea what it means. Heck, there are people on this very site, a site geared to knowledgeable baseball fans, who can't even interpret a simple stat sheet. I could only imagine how badly they would mis-interpret the Financial Statement of a multi-billion dollar entity like a big-league baseball team.
    Yep, and the clubs would each hire their own John Allen to legally put accounting goobly gook in there to legally make it look like the team is losing money, very few people would have the time or energy to go through the entire excercise of scruntizing the books.

    Plenty of companies on the stock market have flat out lied on their finanical statements and/or cooked the books to a varying degree.
    Many years ago, this did not happen. Just like many other things, today, there is a level of moral decay and acceptance for lying. The point is.. Even if MLB was forced to give some kind of report, it would likely be deceptive.. The Reds would post theirs, PhilC would show up to the press and say "SEE, I told you we ran this team as a non profit"..

    The MLB owners have the local governments in their pockets.. It really doesn't matter what the majority of the taxpayers want, they are going to continue to get their billions of dollars of tax payer subsidies, sadly. And if they don't, they will just move to another city that will give them the cash.
    [Phil ] Castellini celebrated the team's farm system and noted the team had promising prospects who would one day be great Reds -- and then joke then they'd be ex-Reds, saying "of course we're going to lose them". #SellTheTeamBob

    Nov. 13, 2007: One of the greatest days in Reds history: John Allen gets the boot!

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  24. #359
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    Re: Bally Sports possible bankruptcy?

    Quote Originally Posted by mth123 View Post
    Any corporation who makes stock available for purchase to the public on one of the stock exchanges has to file a quarterly financial statement with the Securities and Exchange commission. Those are freely available to the public. Nobody else is required and as far as I know, none of these teams is a public corporation, so there is no requirement. The only way I see this changing is if the feds required MLB teams to file publicly in order to keep their anti-trust exemption, but that's not happening.
    That is quite a different scenario then "opening the books" for public scrutiny.
    "In my day you had musicians who experimented with drugs. Now it's druggies experimenting with music" - Alfred G Clark (circa 1972)

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  26. #360
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    Re: Bally Sports possible bankruptcy?

    Quote Originally Posted by mth123 View Post
    Any corporation who makes stock available for purchase to the public on one of the stock exchanges has to file a quarterly financial statement with the Securities and Exchange commission. Those are freely available to the public. Nobody else is required and as far as I know, none of these teams is a public corporation, so there is no requirement. The only way I see this changing is if the feds required MLB teams to file publicly in order to keep their anti-trust exemption, but that's not happening.

    Honestly, even if they did file publicly, most people would have no idea what it means. Heck, there are people on this very site, a site geared to knowledgeable baseball fans, who can't even interpret a simple stat sheet. I could only imagine how badly they would mis-interpret the Financial Statement of a multi-billion dollar entity like a big-league baseball team.
    I think you forgot about Atlanta, they are a publicly traded company so they have to open their books.

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