09-21-2022, 04:24 PM
(09-21-2022, 08:26 AM)michaeltex Wrote: Diamond has been telling the leagues in recent days if it goes bankrupt it will be able to keep broadcasting games, but will not need to pay teams their rights fees as it will have protection from creditors, sources close to the talks said.
Someone is clueless about how bankruptcy works. THIS ^ (keeping the asset, while ignoring debt and increasing it) isn't it.
Nor would D be able to dictate terms - once they are under protection of bankruptcy court, they also lose all kinds of control.
A creditor reacquiring their own asset/debt as part of protection and liquidation is a well-worn route to solving some of the upside down.