A major bankruptcy that affects the Miami Marlins

As the Miami Marlins should be looking for bullpen upgrades, another issue has cropped up that will likely affect the team in a big way. As we already know, Bruce Sherman has recently made it clear that he won't be selling the team under any circumstances. This is important as the already unimpressive payroll can be affected even worse by what recently transpired. So what happened? The Diamond Sports Group declared bankruptcy. This significant because they hold local telvision rights for the Miami Marlins...

The Miami Marlins local television rights are suddenly a big issue.

Diamond Sports Group owns the Bally Sports Network. This means that it owns the right to local television rights of 14 teams: Miami Marlins, Atlanta Braves, Cincinnati Reds, Arizona Diamondbacks, Cleveland Guardians, Detroit Tigers, Kansas City Royals, Milwaukee Brewers, Minnesota Twins, St. Louis Cardinals, San Diego Padres, Texas Rangers, Tampa Bay Rays and Los Angeles Angels.

I'm not going to potentially bore you with long financial explanations. It's very simple really, Diamond Sports Group is reportedly about o declare bankruptcy. This will put their creditors in charge of business operations. It's a surprise as the company sold for $10 billion in 2019. They also made $2 billion in revenue in 2022 and $3 billion in 2021. A lot of this revenue was going to Major League Baseball teams due to those aforementioned local TV deals. The money may not be coming in like it did before now...

Teams might spend even less money by using the bankruptcy situation as an excuse to do so. It's also possible that teams will still receive payments just as they did before. The fact is we really don't know exactly what all this means. We just know that it's not a good thing and that teams will likely be affected in a negative way. There is also a possibility that their contracts will be renegotiated, which is not necessarily positive news. The Miami Marlins specially don't have a good contract, receiving only $50 million annually for local broadcasts at the moment. We'll know more about the situation in the near future.