All 32 NHL Franchises’ Emergency Meeting Leaves Fans Bewildered

A piece of bizarre news from the NHL world has the fans, the viewers, and the entire hockey community concerned. Emergency meetings are an extremely rare occurrence in any field, more so in the NHL. Only certain situations call for such a meeting and February 15 was apparently one such occasion. The issue was a big one, something that could affect all the American teams, which is why it became necessary to schedule one.

The meeting was for the Board of Governors of the National Hockey League and it was convened to discuss a sensitive, albeit shocking, issue.

Why did the NHL call a rare emergency meeting?

A major partner in the NHL has failed to fulfill their debts and has filed for bankruptcy. The issue is something that would have a trickle-down effect on all the franchises, which is why the meeting was called. A subsidiary of Sinclair Broadcast Group, Diamond Sports, failed to pay a $140 million debt.

Bally Sports, which is run by Diamond Sports, has already filed for bankruptcy. They will officially make the announcement in some days. Bally Sports Network had the television deals of many teams. Therefore, this will affect all the teams directly. Also, it might lead to Los Angeles, Anaheim, Arizona, Dallas, St. Louis, Minnesota, Detroit, Columbus, Nashville, Carolina, Tampa Bay, and Florida losing their television coverage.

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This is a huge concern for the commissioner of the NHL, Gary Bettman, which is probably why he called the emergency meeting. If some of these deals are not salvaged, NHL might not see a cap raise. As a result, the NHL will be adversely impacted for years to come. However, according to a Facebook post, in an official statement, the NHL has said, “The NHL is closely monitoring the RSN situation. We will be prepared to address whatever circumstances dictate to provide our fans with access to our games.”

Where it all began

Diamond Sports Group is the largest owner of the local channels. They missed a $140 million interest payment, which is why they filed for bankruptcy. However, they have a 30-day period during which they can negotiate with their creditors and stakeholders and restructure their debt. In a statement, the company said that it intends to use the 30-day grace period “to continue progressing its ongoing discussions with creditors and other stakeholders regarding potential strategic alternatives…”

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Despite the recent developments, the company still intends to keep up the broadcasting. The news is definitely worrisome, not only for the NHL but also for the dedicated fans who rely on the local networks to get their hockey updates. Hopefully, the situation will be sorted and the NHL broadcasting will be back on track.