A subsidiary of Sinclair Broadcast Group Inc., Diamond Sports Group, LLC (“Diamond”) (branded as Bally Sports) which operates 19 regional sports networks that televise MLB, NHL and NBA games is inching towards bankruptcy. On February 15, 2023, Diamond missed a $140 million-dollar interest payment on nearly $9 billion-dollars of debt triggering a 30-day grace period whereby Diamond hopes to continue to negotiate with its creditors in an attempt to avoid what appears to be the inevitable filing for bankruptcy. In the event that Diamond does in fact file for bankruptcy (and is not simply filing a “preplanned” bankruptcy which is approved by creditors prior to filing) such a filing could have major effects on not only the production of game broadcasts but revenue for individual teams and wholesale effects on the NBA and NHL relating to their respective salary caps in the upcoming years.