Diamond Sports reports $490.23 million profit for March

By Sarah Lizee

Olympia, Wash., April 24 – Diamond Sports Group, LLC reported a $490.23 million net profit for March on zero gross income/sales, according to its monthly operating report filed Thursday with the U.S. Bankruptcy Court for the Southern District of Texas.

The company listed negative $509.13 million in reorganization items.

To compare, the company reported a $30.53 million net loss for February on zero gross income/sales.

The cash balance at the end of March was $84.09 million, up from negative $316,055 at the end of February.

Diamond Sports Group is an independently managed and unconsolidated subsidiary of Sinclair Broadcast Group. Diamond owns the Bally Sports Regional Sports networks, a provider of local sports. The Baltimore-based company filed Chapter 11 bankruptcy on March 14, 2023 under case number 23-90116.

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