MLB, the NBA and the NHL may put in a bid to buy the Sinclair-owned RSNs. Sinclair paid $10.6 billion for the networks. Insiders believe the sale will cost the leagues $3 billion plus the assumption of about $2 billion in debt. If a deal isn’t made, the RSNs could be forced into bankruptcy within 3 to 6 months. As I noted in an earlier post, that’s the worst case scenario for the teams; bankruptcy would allow the RSNs to continue broadcasting without paying rights fees.
The article notes something I don’t remember seeing before. When Disney sold off the RSNs, MLB had teamed up with Liberty Media to submit a bid. Liberty owns Formula One, the Atlanta Braces, a 76% stake in SiriusXM and a 35% stake in Live Nation
The leagues are expected to soon begin talks with Diamond Sports, which operates 21 Bally regional sports networks, sources said.
nypost.com