Nov 17, 2023
The long-term outlook for Diamond Sports Group is increasingly dim.
It’s already facing the prospects of holding no major pro team rights after the 2024 MLB season, and during a U.S. bankruptcy court hearing Wednesday, lawyers for DSG parent Sinclair Inc. said that chances of a company liquidation next year are growing.
“To Sinclair folks who originally acquired Diamond, they’re kind of bummed. They’re bummed that this business that they put in a billion-and-a-half [dollars] of equity value in, is now going to be shut down,” said Sinclar lawyer David Seligman. “There’s going to be people losing their jobs … Diamond’s business is going to go away.”
Source: Front Office Sports