Exclusive | MSG Networks approach the deal to expire bankruptcy – Potential cleaning path to join Po: Resources

MSG Networks is approaching an agreement with its JPMORGAN lender that will allow the regional sports channel to avoid bankruptcy – and potentially paves the way for joining the Po network, the post has learned.

Under the terms of the deal, MSGN – which carries knicks, rangers, islanders, devils, sabers and Gotham FC – will gain a debt refinancing in which JPMORGAN agrees to reduce it to about $ 600 million from a current bill of approximately $ 800 million, sources close to talks said.

In return, the owner of Knicks James Dlan – whose sphere entertainment owns and controls MSGN – would agree to reduce the rights tariffs that MSGN pays Knicks and Rangers, increasing the network’s ability to pay its interest, sources said.

MSGN and JPMORGAN refused to comment.

MSG and PO – which broadcasts Yankees, Nets and Liberty – now partner in the Gotham Sports app, with access to both networks costing $ 41.99 a month. Customers can also choose to pay $ 29.99 per month per MSG or $ 24.99 per month for yes.

MSGN had a period of time at midnight on Monday to avoid bankruptcy, and received an extension on Thursday after the network and the bank tried to create a ceasefire.

The publicly traded company must notify the terms of any funding change before markets open on Friday.

After the restructuring of JPMORGAN, Dlan is likely to begin MSGN marketing for sale, sources said. With this easier new debt package, Dollan hopes to have a easier time to find a buyer.

The cable network is losing money in part because it paid $ 187 million in 2025 to broadcast the games of Knicks and Rangers as part of a 20-year deal ending in 2035, according to public records.

In the open market, a cable network would pay significantly less for those rights due to the cutting of the cord, sources said.

MSGN has been in default since October, but has not been bankrupt.

Dollan controls Knicks and Rangers through Madison Square Garden sports traded separately.