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Started By
Message
Bally's news plus the Pels get $36 million per year on their local TV deal
Posted on 9/26/23 at 10:27 am
Posted on 9/26/23 at 10:27 am
The deal that just ended a year or so ago was $12-$14 million per year. It's kind of crazy that they were able to triple that without a long term commitment.
Also of note, Diamond is negotiating with Comcast this week. How that goes, or doesn't go, will determine whether Bally's keeps going or falls apart and the NBA has to take over.
LINK
quote:
So far, NBA team execs have been heartened that the bankrupt Diamond Sports has paid the two teams scheduled to receive rights payments on Sept. 1: the Bucks and Pelicans. Diamond owes the Pelicans installments of roughly $3 million on the first of every month, while the Bucks are scheduled to receive installments of approximately $13 million apiece three times a year.
Also of note, Diamond is negotiating with Comcast this week. How that goes, or doesn't go, will determine whether Bally's keeps going or falls apart and the NBA has to take over.
quote:
All eyes will be on the Comcast negotiations -- that’s the linchpin that will determine Diamond’s future. If Diamond and Comcast are unable to reach a deal, the mediation sessions likely would turn sour, and creditors would be wary of authorizing the next wave of rights payments, which has the potential to affect 15 NBA teams. It is possible the rest of the Diamond NBA teams due installments on Oct. 1 or Nov. 1 could be frozen out.
“I would characterize it right now not necessarily as a black cloud, but a gray cloud hanging over us, without a doubt,’’ said Magic CEO Alex Martins, whose payment is due Nov. 1. “We're all sort of sitting anxiously to see what happens with the Bally bankruptcy.’’
If the mediation falls through, sources told SBJ that Diamond could request that the Bucks and Pelicans repay the installments they’ve already received, creating another potential legal entanglement. Either way, if Diamond cannot strike a reorganization plan with its creditors this week and reneges on its NBA broadcast deals, the league insists that it is ready with a Plan B for each Bally team where their games would be produced by the NBA and streamed via the NBA app.
The NBA would negotiate linear TV deals and help with distribution, as well as sell ads.
Diamond’s problems won’t end even if it is able to work out a Comcast deal. The company’s DirecTV deal ends next month, and its deal with Charter is up in February -- we all saw Charter’s negotiating strategy during its Disney negotiations earlier this month.
LINK
4
Posted on 9/26/23 at 10:35 am to TigerinATL
And now we know why Gayle went with Bally's again instead of ending that deal 
Posted on 9/26/23 at 10:44 am to Fun Bunch
The scary thing is that some of the speculation I've seen says the NBA my be valuing the local rights kind of low, possibly as not much more than a throw in with a larger national TV deal. Could we see the NBA include local rights in a national deal with ESPN or Turner (Max) and the Pels stick with Bally's to make more money?
We really need to hope one of these cable companies tells Diamond to piss off and they go bankrupt sooner than later.
We really need to hope one of these cable companies tells Diamond to piss off and they go bankrupt sooner than later.
Posted on 9/26/23 at 10:50 am to Fun Bunch
quote:
And now we know why Gayle went with Bally's again instead of ending that deal
She's made so much money on the pels investment that she better start paying some luxury tax.
Posted on 9/26/23 at 11:21 am to Balsamic_duck
I'm ready for another season of shitty Bally's
Posted on 9/26/23 at 12:42 pm to Balsamic_duck
quote:She's rich enough and if you aren't willing to spend up, i don't know why you'd want to own a team.
She's made so much money on the pels investment that she better start paying some luxury tax.
But...have the Pelicans really made her a lot of money? The franchise has certainly gone up drastically in value, but does she get money out of that without selling?
But again, yes, she should be spending.
Posted on 9/26/23 at 1:07 pm to shel311
quote:
have the Pelicans really made her a lot of money?
According to the Forbes valuation article from last year, the Pels Operating Income last year was $94 million, and since 2014 the total Operating Income has been $343.9 million.
LINK
This post was edited on 9/26/23 at 1:07 pm
Posted on 9/26/23 at 1:08 pm to TigerinATL
quote:Is operating income basically the same as profit?
According to the Forbes valuation article from last year, the Pels Operating Income last year was $94 million, and since 2014 the total Operating Income has been $343.9 million.
If so, I stand corrected. That's a shite ton of money .
Posted on 9/26/23 at 1:14 pm to shel311
quote:
Is operating income basically the same as profit?
It's before interest and taxes, so like gross profit. So she's not keeping all of that, but they've made enough to dip their toe in the tax for a good enough team.
Posted on 9/26/23 at 1:15 pm to TigerinATL
quote:
bankrupt Diamond Sports
frick Sinclair
Posted on 9/26/23 at 1:21 pm to TigerinATL
quote:I always heard that small market teams don't make much money or lose money yearly. Clearly that's not the case if we made $94 mil before taxes last season.
It's before interest and taxes, so like gross profit. So she's not keeping all of that, but they've made enough to dip their toe in the tax for a good enough team.
Posted on 9/26/23 at 1:33 pm to shel311
quote:
I always heard that small market teams don't make much money or lose money yearly.
The economics have changed tremendously since the Benson's bought the team. When Shinn owned the team they aimed for mediocrity because the extra million or 2 from a 1st round exit could literally mean the difference between a profit and a loss.
The current national TV deal added about $30 million per year in new revenue for each team. They're about to get another $50-$80 million ON TOP of that $30 million for the next TV deal, although it's possible that might come at the expense of local TV revenue.
If you own an NBA team over the next 10 years, the only way you should lose money is if you're a heavy tax payer or maybe if you're self financing a new arena.
Posted on 9/26/23 at 4:27 pm to TigerinATL
Gayle is very comfortable.
Posted on 9/26/23 at 5:15 pm to TigerinATL
It may seem like I’m spamming when I post this in various tv topics but I promise I’m not! Check out iptv subscription and never worry about missing a game, match or fight in almost any sport or league. FOX, NBC, ABC and CBS are also included and covers all sports regions. NFL/NBA games are always on 2-3 different channels. All available sports packages are included. EVERYTHING available on a paid cable package is included. $20/month is the most expensive I’ve seen and it’s cheaper if you subscribe to longer periods. Cord cutting topic on the tech board has all the goods on topic. I deeply despise cable tv and sports package costs. Total bullshyt!!
Posted on 9/26/23 at 5:56 pm to BayouFann
quote:
It may seem like I’m spamming when I post this in various tv topics but I promise I’m not! Check out iptv subscription and never worry about missing a game, match or fight in almost any sport or league. FOX, NBC, ABC and CBS are also included and covers all sports regions. NFL/NBA games are always on 2-3 different channels. All available sports packages are included. EVERYTHING available on a paid cable package is included. $20/month is the most expensive I’ve seen and it’s cheaper if you subscribe to longer periods. Cord cutting topic on the tech board has all the goods on topic. I deeply despise cable tv and sports package costs. Total bullshyt!!
This is my first time seeing this. I can't see Pel games on the Northshore unless I subscribed to shitty Bally's which I refused to do. The only way I've been able to watch it was to look for an illegal stream online. Thanks for sharing!
Posted on 9/26/23 at 7:09 pm to shel311
Operating income is money derived from operations. Ticket sales, tv deals, revenue sharing, parking, concessions etc. minus expenses. Doesn’t include taxes or interest
This post was edited on 9/26/23 at 7:51 pm
Posted on 9/27/23 at 8:45 am to TigerinATL
Well this tells you why they decided to go with Bally’s.
I bet they were looking hard at NBC the night an executive went in and watched the game, but Ballys came last minute with a ridiculous offer, probably knowing they would be going bankrupt and wouldn’t have to pay most of it
I bet they were looking hard at NBC the night an executive went in and watched the game, but Ballys came last minute with a ridiculous offer, probably knowing they would be going bankrupt and wouldn’t have to pay most of it
Posted on 9/27/23 at 12:06 pm to Hammond Tiger Fan
quote:Glad to help. Bally’s whole lineup is included. And if the game isn’t on Bally, then it’ll be on the opposing teams network, league pass or TNT.
This is my first time seeing this. I can't see Pel games on the Northshore unless I subscribed to shitty Bally's which I refused to do. The only way I've been able to watch it was to look for an illegal stream online. Thanks for sharing!
Posted on 9/27/23 at 1:14 pm to TigerinATL
quote:
If you own an NBA team over the next 10 years, the only way you should lose money is if you're a heavy tax payer or maybe if you're self financing a new arena.
It's past time she does one of these things. If she isnt going to pay tax then put some real fricking money into the arena. It's a pile of shite compared to other arenas. I mean hell our own players were commenting last year how the arena in Birmingham where the squadron play is nicer than the SKC
Posted on 9/27/23 at 11:34 pm to Sheep
quote:
frick Sinclair
Sinclair looks likely they have already done a good enough job of fricking Sinclair.
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