Major League Baseball commissioner Rob Manfred addressed fears over broadcast coverage of the 2023 season following news that one of its major media partners missed a $140 million interest payment to creditors on Wednesday and could be facing bankruptcy.
Diamond Sports Group LLC, a subsidiary of Sinclair Broadcast Group with rights to 14 MLB teams, was scheduled to make the payment on Wednesday. However, the company announced in a statement that it will instead ‘continue progressing its ongoing discussions with creditors and other key stakeholders regarding potential strategic alternatives.’
‘We are prepared no matter what happens with respect to Diamond to make sure the games are available to fans in their local markets,’ Manfred told reporters at the onset of spring training on Wednesday in Phoenix. ‘We think it will be both linear in the traditional cable bundle and digitally on our own platforms, but that remains to be seen.’
Diamond’s networks have the rights to 42 professional teams – 14 baseball, 16 NBA and 12 NHL. The company said as of September 30 it had debt of $8.674 billion – including nearly $1 billion in rights payments, mostly to baseball teams, due in the first quarter this year. There remains a possibility for Chapter 11 bankruptcy.
The missed payments by the parent company of 19 Bally Sports regional networks started a 30-day grace period that could be the prelude to a bankruptcy filing, possibly leading to changes in how televised games are made available to viewers. MLB hopes any upheaval leads to an end of local blackouts.
Major League Baseball commissioner Rob Manfred addressed fears over broadcast coverage of the 2023 season following news that one of its major media partners missed a $140 million interest payment to creditors on Wednesday and could be facing bankruptcy
Shortstop Amed Rosario (1) and right fielder Will Benson (29) are interviewed by Bally Sports in game reporter Andre Knott after Rosario drive in Benson for the game-winning run in the eleventh inning of the Major League Baseball Interleague game between the Arizona Diamondbacks and Cleveland Guardians on August 1, 2022, at Progressive Field
‘The company intends to use the 30-day grace period to continue progressing its ongoing discussions with creditors and other key stakeholders regarding potential strategic alternatives and deleveraging transactions to best position Diamond Sports Group for the future,’ Diamond said in a statement.
Manfred said Diamond has told MLB it intends to pay its baseball teams, but he called it an ‘unfolding story’ that could change.
‘We are prepared no matter what happens with respect to Diamond to make sure the games are available to fans in their local markets,’ he said. ‘We think it will be both linear in the traditional cable bundle and digitally on our own platforms, but that remains to be seen.’
Diamond said in a statement that it’s been hurt by cord cutting.
‘Our Bally RSNs have been negatively impacted by elevated levels of subscriber erosion which we believe was influenced in part by shifting consumer behaviors resulting from media fragmentation, the current economic environment and related uncertainties,’ Diamond said in its financial statement for the quarter ending September 30. ‘These factors are expected to have a negative impact on future projected revenues and margins of our Bally RSNs.’
Sinclair Broadcast Group bought the regional sports networks from The Walt Disney Co. for nearly $10 billion in 2019. Disney was required by the Department of Justice to sell the networks for its acquisition of 21st Century Fox’s film and television assets to be approved.
If Diamond Sports Group doesn’t pay its MLB teams, Manfred said the clubs will terminate their contracts with the company.
‘We’ve been really clear that if Diamond doesn’t pay under every single one of the broadcast agreements, that creates a termination right, and our clubs will proceed to terminate those contracts,’ Manfred said.
‘In the event that MLB stepped in, what we would do is we would produce the games, we would make use of our asset with the MLB Network to do that, we would go directly to distributors, Comcast, Charter, the big distributors, and make an agreement to have those games distributed on cable networks,’ he added. ‘We would also be seeking flexibility on the digital side so that, when you look at MLB.TV, you could buy your out-of-market package like you always had but have the option to buy up into in-market games, something the fan has never had before, which I see as a huge improvement for fans.’
Bally SportsGreat Lakes field reporter Andre Knott gives an update prior to the Major League Baseball game between the Houston Astros and Cleveland Indians on July 2, 2021, at Progressive Field in Cleveland
Diamond’s networks have the rights to 42 professional teams – 14 baseball, 16 NBA and 12 NHL. Bloomberg reported last month that Diamond Sports Group has an overall debt of $8.6 billion. There remains a possibility for Chapter 11 bankruptcy
Manfred said he sees a future for regional sports networks in cable bundles, but smaller than it was in its heyday.
‘It’s really important for the game to preserve the economics in the remaining RSN cable bundle while developing a digital alternative that has more flexibility and gives us better reach in terms of getting to fans who want to watch and don’t have the ability to watch,’ he said.
‘Blackouts are the kind of opposite side of the coin of reach,’ he said. ‘We need to deliver product to fans who want to watch on platforms that they customarily use at a realistic price. That is our No. 1 priority.’
One of the major issues facing networks – and by extensions, sports leagues – is cord cutting, which threatens to reduce the number of viewers dramatically.
(Left) Ryan Lomberg #94 of the Florida Panthers chats with Bally Sports network during warm ups prior to the start of the game against the Chicago Blackhawks at the FLA Live Arena on March 31, 2022 in Sunrise. (Right) Jen Hale, Bally Sports Sideline Reporter, reports on the game between the New Orleans Pelicans and the Los Angeles Lakers on April 1, 2022 at STAPLES Center in Los Angeles
In the era of cord cutting, tech companies, advertisers and sports leagues are finding that younger viewers continue to migrate toward streaming and are watching for extended periods.
According to Amazon tracking data, 22 percent of ‘Thursday Night Football’ viewers on Prime Video were in the coveted 18-34 age demographic, compared with 14 percent of viewers watching NFL games on linear networks.
To circumvent that problem, MLS signed a 10-year partnership with Apple TV, which makes sense for both parties. Various studies have found that soccer fans are more likely to watch sports on streaming devices or recorded TV. MLS will receive at least $250 million per season from Apple. The league averaged $90 million per season under its previous eight-year agreements with Fox, ESPN and Univision.
Bally Sports has tried to offset the effects of cord cutting by offering a Bally Sports+ digital package, where fans in some markets would be able to stream their team’s games.
Billy Chambers, who had been Sinclair’s chief financial offer, started work this month with MLB in a new position as executive vice president for local media.
Diamond owns rights to local broadcasts for the Arizona Diamondbacks, Atlanta Braves, Cincinnati Reds, Cleveland Guardians, Detroit Tigers, Kansas City Royals, Los Angeles Angels, Miami Marlins, Milwaukee Brewers, Minnesota Twins, St. Louis Cardinals, San Diego Padres, Tampa Bay Rays and Texas Rangers.
General Billing Rules
The early settlement function is only applicable to some live betting markets, and members can make early settlement when the betting is live. Please forgive me if you find any inconvenience caused by "all transactions will be canceled after a live ball is scored".
The advance settlement amount already includes the principal, please note!
The "Odds" or "Markets" for all events determine the amount of early settlement. If the amount changes or the opening of the market is suspended during early settlement, it may lead to the failure of early settlement. If the event has not yet concluded, the early settlement function may appear again.
If the system successfully accepts the early settlement of the bet, the member will not be able to cancel the transaction that has been settled in advance. The amount of bets that are successfully settled in advance will be directly returned to the member's account, and the bet will no longer be affected by the final settlement and official results of the betting event.
If the bet that was successfully settled in advance is canceled for some reason (such as VAR assistance-goals are not counted), the amount of the bet that was settled in advance will be deducted from the member's account. If the event has not ended yet, the early settlement function may appear again, otherwise the betting will be based on the event or official final result. The company reserves the right of final interpretation, please pay attention!
When this website announces the early settlement amounts of all events, if any typos or unintentional human errors occur, the company reserves the right to cancel any bets with wrong early settlement amounts and publish them with information, please pay attention!
The company reserves the right to turn on or off the early settlement function of any event, and to cancel or reject the player's early settlement transaction.
In case of event cancellation or cut in half, the bets settled in advance after the interruption of the event will be cancelled, the amount settled in advance of the bet will be deducted from the member's account and the original betting amount will be returned; the bets settled in advance before the interruption of the event will still be considered It is a "valid bet slip".
Sports Event Casino Handicap Description
|It means not giving in to each other, and winning 1 point wins all.
|Indicates that when the handicap team is tied with the transferee team, the team betting on the handicap loses 50%.
|Indicates that when the handicap team is tied with the transferee team, the team betting on the handicap loses.
|When the handicap team wins the handicap team by 1 point, the team betting on the handicap wins 50% and wins all 2 points.
|Indicates that when the handicap team wins the handicap team by 1 point, the two teams will tie and win by 2 points.
|When the handicap team wins the handicap team by 1 point, the team betting on the handicap loses 50% and wins all 2 points.
|When the handicap team wins the handicap team by 1 point, the team betting on the handicap loses all and wins by 2 points.
|When the handicap team wins the handicap team by 2 points, the team betting on the handicap wins 50% and wins all 3 points.
|Indicates that when the handicap team wins the handicap team by 2 points, the two teams will tie and win all 3 points.
|When the handicap team wins the handicap team by 2 points, the team betting on the handicap loses 50% and wins all 3 points.
|When the handicap team wins the handicap team by 2 points, the team betting on the handicap loses all and wins all 3 points.
|When the handicap team wins the handicap team by 3 points, the team betting on the handicap wins 50%, and all 4 points win.
|Indicates that when the handicap team wins the handicap team by 3 points, the two teams will tie and win all 4 points.
|When the handicap team wins the handicap team by 3 points, the team betting on the handicap loses 50% and wins all 4 points.
|When the handicap team wins the handicap team by 3 points, the team betting on the handicap loses all and wins all 4 points.
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Online gaming refers to games played with other players over the Internet. Common online games include role-playing games, strategy games, shooting games, racing games, board games, etc. Players can fight or compete with other players or computers via the Internet, and can communicate and cooperate with other players.
The benefits of online gambling include:
Convenience: The game can be played anytime and anywhere, no specific equipment or venue is required.
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Social: You can communicate and cooperate with other players to increase your social network.
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Entertainment: Can bring entertainment and relaxation to players.
However, online gambling also has some risks and problems, such as addiction, time consumption, money transactions involved, and so on. Therefore, you need to pay attention to self-protection when playing online games, and abide by the rules of the game and relevant laws and regulations.
Here are some common sports betting plays:
Winning the Game: This is one of the most common sports betting variants where players bet on which team or athlete will win the game before it starts.
Handicap Market: This bet is based on point difference, and punters must predict whether the winner's point difference is greater or less than a preset point difference.
Over/Under: This bet is based on the total points scored in the game, and punters must predict whether the total points in the game will be greater or less than the preset score.
Specific Event Markets: This type of betting usually involves specific events in the game, such as first score, player scoring, free throw percentage, etc., and the punter must predict whether the specific event will occur or be achieved.
Online betting: This type of play refers to betting while the game is in progress, and the punter can change the bet at any time and make a decision based on the real-time situation of the game.
It should be noted that sports betting is a high-risk gambling activity that needs to be treated with caution. It is recommended to gamble on legal betting websites and bet according to your own financial ability.
A global casino site is usually an online platform that offers a variety of entertainment games, including gambling, lottery, video games, and sports betting. These sites are usually registered and licensed to comply with local gaming regulations and legal requirements.
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