Diamond Sports Group, the parent company of the Bally Sports stable of regional sports networks, has reached an agreement to continue carrying more than 20 NHL and NBA teams on linear television through the 2024-25 seasons, a move that is seen as a critical development as the company seeks to emerge from bankruptcy court.
The deal includes the Detroit Red Wings and Detroit Pistons, whose games will continue to be streamed on Bally Sports Detroit and via the Bally Sports-Plus app.
The deal was announced Friday and confirmed by Bally Sports Detroit.
“We are grateful for the continued collaboration and long-term partnerships with the NBA and NHL,” Diamond Sports Group CEO David Preschlack said in a statement. “These new agreements covering linear and DTC (direct-to-consumer) rights to the NBA and NHL are another important milestone and continue Diamond’s momentum toward the exit (from bankruptcy), which will allow us to deliver value to our NBA and NHL partners and continue to serve the dedicated local fans of the NBA, NHL and MLB.”
“Having completed negotiations with key partners who provide certainty around our content and distribution, Diamond is well positioned for the future.
“We appreciate the support of our creditors, are focused on finalizing our plan of reorganization to support our emergence and presenting that plan to the court in a timely manner.”
Friday’s announcement does not affect Major League Baseball, whose teams under contract with Bally are covered through the end of the 2024 season, including the Tigers. The long-term future of a Bally-MLB partnership remains uncertain. Crucial financial details of the NHL and NBA deals were not disclosed, but many teams are expected to see their broadcast rights significantly reduced, including the Pistons and possibly the Red Wings.
Friday’s announcement covers nine NHL teams and 13 NBA teams, with Diamond Sports Group seeking to eliminate its deals with the New Orleans Pelicans and Dallas Mavericks.
Diamond Sports Group has agreements with 11 MLB teams.
Sinclair Broadcast Group bought 21 RSNs from the Walt Disney Company for nearly $10 billion in 2019, just as the market was starting to collapse for cable providers, largely due to streaming options and cable opt-outs. Diamond Sports Group, the subsidiary created to cover Bally Sports’ stable of RSNs, filed for bankruptcy in March 2023, citing more than $8 billion in debt.
The deals with the NHL and NBA are the latest positive moves for Diamond, which is emerging from bankruptcy, as are deals with the country’s major cable providers, including Comcast (Xfinity) late last month. Diamond Sports Group also signed Amazon as an investor to begin broadcasting games in the future, though a date is not yet known.
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