Diamond Sports activities Group, the bankrupt operator of Bally Sports activities channels, has reached new offers with the NBA and the NHL and has ensured that it’ll broadcast video games for groups below its portfolio not less than via their upcoming 2024-25 seasons.
As a part of its settlement, which incorporates modifications to linear and direct-to-consumer rights, Diamond has additionally dropped the NBA’s Dallas Mavericks and New Orleans Pelicans, leaving the corporate with 13 NBA groups and 9 NHL groups.
Diamond’s affirmation listening to, which can primarily decide whether or not the corporate will emerge from chapter, was initially pushed again from June 18 to the tip of July. However it has since requested for extra time within the wake of a shock settlement with Comcast that ended a three-month-long dispute which had taken MLB groups off the air.
With the NBA and NHL offers now set, Diamond will concentrate on crafting a reorganization plan that may hope to deal with severe issues about its financial viability shifting ahead. A brand new affirmation date has not been set, however the course of is now anticipated to tug on lengthy sufficient to chop into the upcoming NBA and NHL seasons and bleed into MLB’s offseason. If Diamond doesn’t emerge from chapter, the brand new offers — nonetheless pending a choose’s approval — will finish on the conclusion of the leagues’ 2024-25 seasons.
Editor’s Picks
1 Associated
Diamond is scheduled to current its new offers to a chapter choose on Sept. 3.
“We’re appreciative of the continuing collaboration and long-term partnerships with the NBA and NHL,” Diamond CEO David Preschlack wrote in an announcement. “These new agreements that cowl NBA and NHL linear and DTC [direct-to-consumer] rights are one other main milestone and proceed Diamond’s momentum towards emergence, which can allow us to supply worth for our NBA and NHL companions and proceed to serve devoted native NBA, NHL and MLB followers.
“Having accomplished negotiations with key companions that present certainty round our content material and distribution, Diamond is effectively positioned for the longer term. With the assist of our collectors, we’re targeted on finalizing our reorganization plan to assist our emergence and presenting that plan to the court docket in the end.”
The NHL common season begins Oct. 8, and the NBA will comply with on Oct. 22.
The next 9 NHL groups are at present below Diamond: Anaheim Geese, Carolina Hurricanes, Columbus Blue Jackets, Detroit Crimson Wings, Los Angeles Kings, Minnesota Wild, Nashville Predators, St. Louis Blues and Tampa Bay Lightning.
There are 13 NBA groups in Diamond’s portfolio: Atlanta Hawks, Charlotte Hornets, Cleveland Cavaliers, Detroit Pistons, Indiana Pacers, LA Clippers, Memphis Grizzlies, Miami Warmth, Milwaukee Bucks, Minnesota Timberwolves, Oklahoma Metropolis Thunder, Orlando Magic and San Antonio Spurs.
Diamond additionally has 12 MLB groups below its portfolio, however three of them — the Texas Rangers, Cleveland Guardians and Minnesota Twins — signed one-year contracts earlier than the beginning of the season. Diamond solely has the DTC rights for 5 smaller-market MLB groups.
Particulars of the brand new NBA and NHL offers are usually not recognized. The linear agreements differ on a team-by-team foundation, however DTC rights are granted by the leagues on behalf of all of the groups.
