Jerry Reinsdorf, the Chicago White Sox and Bulls owner, has taken majority control of Stadium, the multiplatform sports network he helped create in 2017.
Industry sources have confirmed to Front Office Sports that Reinsdorf’s Silver Chalice sports media entity recently acquired a controlling stake in Stadium previously held by Sinclair Broadcast Group. Terms of the deal were not disclosed.
The equity move was precipitated in part by Sinclair’s own corporate issues, sources said. The company’s Diamond Sports Group, which owns and operates the Bally Sports regional sports networks, filed for bankruptcy protection in March and is continuing reorganization efforts.
Neither Silver Chalice nor Sinclair commented.
But sources indicated further, large-scale moves are expected by Stadium in the new Reinsdorf-led structure. Those moves will be closely watched against the backdrop of the October 2024 expiration of the regional rights contract for the Bulls, White Sox, and Chicago Blackhawks with NBC Sports Chicago.
Reinsdorf has previously explored starting his own network to varying degrees.
The Chicago-based Stadium – which operates out of the Bulls’ home arena the United Center – currently offers a series of live games, particularly within college sports, as well as highlights and studio programming. Key on-air personalities include basketball insiders Shams Charania and Jeff Goodman. It is available through a series of digital, cable, and over-the-air platforms.
Stadium was initially developed through a merger of assets from the former 120 Sports, Silver Chalice’s Campus Insiders, and Sinclair’s American Sports Network. Following this latest equity transfer, Stadium will continue to supply some programming to Sinclair-controlled outlets.
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May 30, 2023 at 08:01AM
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White Sox, Bulls Owner Gets Controlling Stake of Stadium Network - Front Office Sports
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