BREAKING: NHL's TV Partner Files For $55 Billion in Bankruptcy and It'll Affect 12 NHL Teams

12 NHL network's are in jeopardy after the news that Bally Sports RSN's are preparing for bankruptcy.

The company called Diamond Sports Group LLC, which runs Sincalirs sports channels, is reportedly $8.6 billion in debt and at total, Sinclair owes $55 billion in sports-media rights, according to Bloomberg. A bankruptcy could put payments to the NBA and NHL at risk. It is being reported that Sinclair will skip a $140 million interest payment due in mid-February, starting a 30-day grace period for the company.

Sinclair has launched a $20 a month subscription service similar to Netflix but the numbers have been disappointing so far.

It is reported that Sinclairs Diamond sports group has about $585 million cash in hand, but owes about $2 billion in fees to teams this year.