Bettman Calls Critical Meeting Regarding Bankruptcy - Latest Development Unveiled

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MarcO
February 15, 2023 (9:33 PM)

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In the last few minutes, we were telling you about this big story in the NHL, related to the Bally Sports network that is reportedly on the verge of declaring bankruptcy.

Well there's news on that front.

In fact, it's probably the biggest story in the hockey world right now, as Elliotte Friedman (of Sportsnet) mentions.

Recall that the Bally Sports television network includes no less than 12 (!) NHL television networks.

So you understand that this news will have a major impact on several NHL teams, and on the entire NHL.

In particular, the cap will take a hit, according to many.

This would affect the media in Los Angeles, Anaheim, Arizona, Dallas, St-Louis, Minnesota, Detroit, Columbus, Nashville, Carolina, Tampa Bay and Florida.

In short, there's news.

Latest development

As we mentioned earlier this evening, the NHL has called an emergency meeting on this matter, and here are the details we have so far.

Many fans are wondering if this will actually have an impact for them, over the next few days and weeks.

"Can someone who knows something about this explain to me how this Bally Sports thing will impact me and the ability for us fans to watch Carolina Hurricanes games (for example) for the rest of the year." - Message from a fan

And see the details:

"It probably won't have an immediate impact, at least not this season. Bankruptcy is about 30 days away, and that will probably happen with a firm plan in place (including teams/leagues on Bally's now).

Longer term, if the model really breaks, the NHL and Canes could go elsewhere." - Reporter Eben Novy-Williams' response

This is definitely a story to watch closely.

More details will follow, as we still try to gauge the impact this will have on the NHL in the medium term. One thing is certain, we can probably forget about a significant salary cap increase.

Gary Bettman must really not find it funny.