• Loading stock data...
Sunday, December 8, 2024
Tune in on Dec. 11 at 1:05 p.m. ET for our last Future of Sports virtual summit of the year – Future of Sports: Marketing! Register Now

Sinclair Nears Deals to Stream NBA, Receive $600M

  • Sinclair Broadcast Group is close to securing a deal to carry NBA games on its new streaming service.
  • The company is also set to receive to $600 million to support its launch.
Bally-Sports-Sinclair
Bally Sports/Design: Alex Brooks

Sinclair Broadcast Group is close to securing deals to air NBA games on its new streaming service, along with $600 million of financing to support the expansion, according to Bloomberg.

The deal would provide Sinclair’s sports network unit, Diamond Sports Group, with regional digital rights to the NBA, adding to the broadcast rights Sinclair already owns.

The funding would also help Diamond develop the new streaming app in the first half of 2022 as it manages $8.1 billion in debt, a byproduct of its sale to Sinclair in 2019 and a recent drop in viewership.

Sinclair has joined forces with Bally’s Corp. to combat the losses in the last couple years.

  • In November 2020, it secured a naming rights deal with Bally Sports for $85 million over 10 years to hold its 21 sports networks under the Bally name.
  • That same month, Bally’s acquired sports betting platform Bet.Works in a deal valued at $125 million.
  • In March 2021, Bally’s completed its acquisition of free-to-play sports game provider Monkey Knight Fight for roughly $90 million.

Present and Future

Sinclair posted $1.5 billion in revenue in Q3 2021, the same amount generated in Q3 2020.

The flat performance was the result of declines in subscribers and advertising revenue, which dropped to $446 million during the quarter, an 11% decrease year-over-year.

Sinclair, which currently owns TV rights for 16 NBA teams, projects 4.4 million streaming customers by 2027.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Nov 2, 2024; Ann Arbor, Michigan, USA; Michigan Wolverines cheerleader runs with a flag before the game against the Oregon Ducks at Michigan Stadium.
opinion

College Football’s Billionaire Backer Era Begins

Is this the new normal in CFB recruiting?
LA Galaxy forward Dejan Joveljic (9) celebrates with midfielder Riqui Puig (10) after scoring a goal against Seattle Sounders FC in the second half in the 2024 MLS Cup Western Conference Final match at Dignity Health Sports Park

With or Without Messi, Major League Soccer Is Barreling Into the Future

After the Cup final, the league looks to accelerate its growth.
Jul 20, 2024; Phoenix, AZ, USA; NBA commissioner Adam Silver arrives prior to the WNBA All Star Game at Footprint Center.

NBA Set for China Return Five Years After Morey–Hong Kong Fiasco

The Nets and Suns will play two games in Macao in October 2025.

Las Vegas Doubles Down on Sports With $1.75B Ballpark and NBA Arena

Ballpark and arena projects in the booming sports market receive key approvals.

Featured Today

Dec 18, 2022; Lusail, Qatar; FIFA president Gianni Infantino claps during the awards ceremony after the 2022 World Cup final between Argentina and France at Lusail Stadium.

FIFA Wants More Matches. Resistance Is Growing Inside the Global Soccer World

Resentment and frustration over expanded schedules is nearing a breaking point.
November 30, 2024

U.S. Investors Are Gunning for England’s Small Soccer Clubs

Is another Hollywood-like success story possible among the U.K.’s smallest clubs?
Nov 1, 2024; Boise, Idaho, USA; Boise State Broncos running back Ashton Jeanty (2) leads the team onto the field prior to the first quarter against the San Diego State Aztecs at Albertsons Stadium.
November 29, 2024

Schools Are Scrambling to Prepare for the NCAA Revenue-Sharing Era

In the post–House v. NCAA world, “everyone’s kind of on their own.”
Nov 4, 2024; Kansas City, Missouri, USA; Recording artist Taylor Swift arrives prior to a game between the Tampa Bay Buccaneers and the Kansas City Chiefs at GEHA Field at Arrowhead Stadium.
November 29, 2024

The PWHL Could Be Inviting a Date With Taylor Swift’s Legal Team

The Toronto Sceptres may have opened a Pandora’s box of trademark issues.
exclusive

Talor Gooch Using LIV Golf Fortune to Start Building Sports Empire

The golfer has made more than $43 million individually from LIV.
November 13, 2024

Why Liberty Media Spun Off Assets, Shook Up Leadership

Longtime CEO Greg Maffei is stepping down at the end of the year.
December 4, 2024

U.S. Firm Makes $310M Bet on Soccer by Forming Superagency

The U.S.-based investment company makes a significant play in international soccer.
Sponsored

How UBS Crafts Impactful Partnerships Across Sports, Arts, and Culture

As UBS continues to expand its impressive array of sports and entertainment partnerships, the company solidifies its position as a leader in wealth management.
Oct 27, 2024; Seattle, Washington, USA; Buffalo Bills quarterback Josh Allen (17) passes against the Seattle Seahawks during the second quarter at Lumen Field.
October 30, 2024

Buffalo Bills in Talks to Sell Stake to PE Firm Arctos: Report

Arctos already has a slice of Paris Saint-Germain and the PGA Tour, among other assets.
Jul 7, 2021; Tampa, Florida, USA; Tampa Bay Lightning owner Jeff Vinik hoists the Stanley Cup after the Lightning defeated the Montreal Canadiens 1-0 in game five to win the 2021 Stanley Cup Final at Amalie Arena.
October 25, 2024

Lightning Sell at $1.8B Valuation, Nearly Double Prior NHL Record

The Lightning unveiled a multistep and multiyear sale process.
May 24, 2024; Minneapolis, Minnesota, USA; Dallas Mavericks owner Mark Cuban celebrates after defeating the Minnesota Timberwolves in game two of the western conference finals for the 2024 NBA playoffs at Target Center.
October 9, 2024

Why Mark Cuban Sold the Dallas Mavericks When He Did

Cuban sold his majority stake to the Adelson family in December 2023.
Young fans look over Michigan State sports equipment on display during the Spring Showcase on Saturday, April 20, 2024, at Spartan Stadium in East Lansing.
October 2, 2024

Private Equity Firms Buy Rival Hockey Brands CCM and Bauer

Both brands have been around for decades and changed ownership in the same week.