"I DECLARE BANKRUPTCY" 👨‍💼 •⁣ Diamond Sports Group appears to be headed for an $8.6 billion bankruptcy restructuring that will throw the media rights of 42 MLB, NBA, and NHL teams into chaos. ‼️ •⁣ Having missed Wednesday’s debt payment the group kickstarted a 30-day grace period that they will use to continue discussions with creditors and other key stakeholders. 💰 •⁣ Diamond Sports Group's RSNs still owe teams about $2 billion in media right from just this season, which during the possible Chapter 11 bankruptcy process the networks could try to slash or halt payments on. 👀 •⁣ Although the missed payment won’t have immediate effects on the NBA and NHL now, the pending bankruptcy and potential lawsuit could interfere with millions of fans' ability to catch their favorite team at home. Plus threaten one of the biggest moneymakers for sports teams around the country. 😬 •⁣ For more on the business of sports, be sure to subscribe to our 3x weekly (forever free) sports biz newsletter a...