add another team to the list of "where's my money?"
Diamond has reportedly missed a payment to the Reds. There is a grace period that runs into early May.
But the Reds' situation is different than the Twins, because the Reds own a stake in Bally Sports Ohio, which puts them into a different category for the bankruptcy proceedings.
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and, on another site, (Sportico - a sports business site) I found a little more detail on the May 31st bankruptcy court hearing involving the Twins, Cleveland and Arizona:
U.S. Bankruptcy Judge Christopher Lopez will preside over a key hearing on May 31 during which Major League Baseball’s attorneys, teams and other parties will debate whether Diamond should continue to broadcast MLB games without making timely payments.
The evidentiary hearing will provide an opportunity for Judge Lopez to directly question the parties and permit them to offer sworn testimony and evidence, such as financial documents and asset and liability projections. He will weigh the rights conferred to Diamond as a consequence of filing for bankruptcy with its continued obligations to MLB and its teams.
If persuaded by MLB, Judge Lopez could lift the stay, which would permit teams that have not been paid to provide notices of default to Bally. If Bally then doesn’t pay within a cure period, teams could terminate their agreements and seek new broadcasting partners. Alternatively, the judge could reason that Diamond is acting consistent with rights conferred by the bankruptcy filing.
and this note about viewership for RSN's: (down by 1/3 in last 4 years...)
Since Sinclair Broadcasting acquired the Fox-branded RSNs from Disney in 2019 in a blockbuster $9.6 billion deal, the number of subscribers to the traditional pay-TV bundle has plummeted. At the time of the transaction, the RSNs reached north of 60 million households; per Diamond’s March 15 cleansing materials, that base has been whittled down to 40.6 million homes.
