“To be clear, rejecting these other agreements is not our preferred path."
Diamond Sports Group has put forward a reorganization plan that aims to cut down on broadcasting rights for all but one Major League Baseball team. Eleven teams could lose their regional sports network contracts.
In court, Diamond confirmed it will hold onto its contract with the Atlanta Braves while dropping those with the Tampa Bay Rays and Detroit Tigers. The company plans to move forward without these teams, which include the Los Angeles Angels, Cincinnati Reds, Miami Marlins, St. Louis Cardinals, Kansas City Royals, Milwaukee Brewers, Cleveland Guardians, Minnesota Twins, and Texas Rangers.
For the Rangers, Guardians, Twins, and Brewers, their deals end after the 2024 season. As for the Angels, Reds, Cardinals, Royals, and Marlins, these teams have joint-venture agreements. If Diamond ends these contracts, it could lead to legal action.
Diamond Sports Group, which is a subsidiary of Sinclair and owns broadcasting rights for 14 MLB teams along with some NBA, NHL, and WNBA teams, declared bankruptcy in 2023 under Chapter 11.
The company has over $8 billion in debt but said that its Bally Sports regional networks “will continue to operate in the ordinary course during the Chapter 11 process,” using $425 million in cash to maintain operations.
Diamond will separate from Sinclair and become an independent company as part of an agreement with creditors. CEO David Preschlack hopes that these moves will help the company restructure while continuing its usual operations.
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MLB has consistently voiced doubts about Diamond’s long-term survival. Even though Diamond tried several refinancing strategies, like signing a streaming deal with Amazon, MLB didn’t seem convinced that these steps would secure lasting stability.
The league has already begun selling some games directly to fans through a direct-to-consumer model. Commissioner Rob Manfred is looking to offer a digital streaming package featuring multiple MLB teams that fans can watch without blackout restrictions. MLB.TV already provides access to most games, but regional sports network (RSN) contracts still result in blackout zones for certain teams.
By reducing its commitments with Diamond, MLB could be in a better position to push its streaming plan forward in the coming years. However, less TV revenue could significantly affect the short-term financial outlook, especially for players entering free agency soon. New broadcasting deals might be negotiated before the 2025 season, though they will likely bring in less revenue than previous agreements.
There’s also the fan experience to consider. In 2024, there were instances when Braves games weren’t available on TV to some fans due to a dispute between Bally’s and Comcast. Fans of these 11 teams will need to stay updated to find out whether they can continue watching their favorite team as usual or if they’ll need to adapt to a new broadcasting model.
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