Diamond Sports Group, the parent company of Bally Sports, missed a $140 million interest payment on Wednesday, which would put the company closer to filing for bankruptcy, it announced Wednesday.
The missed interest payments begin a 30-day grace period, where Diamond Sports Group could negotiate with creditors and restructure its debt. Another avenue could be a pre-arranged Chapter 11 bankruptcy filing.
The missed interest payments begin a 30-day grace period, where Diamond Sports Group could negotiate with creditors and restructure its debt. Another avenue could be a pre-arranged Chapter 11 bankruptcy filing.