Diamond Sports Group, the bankrupt operator of Bally Sports channels, has reached new deals with the NBA and the NHL and has ensured that it will broadcast games for teams under its portfolio at least through their upcoming 2024-25 seasons.
As part of its agreement, which includes modifications to linear and direct-to-consumer rights, Diamond has also dropped the NBA’s Dallas Mavericks and New Orleans Pelicans, leaving the company with 13 NBA teams and nine NHL teams.
Diamond’s confirmation hearing, which will essentially determine whether the company will emerge from bankruptcy, was initially pushed back from June 18 to the end of July. But it has since asked for more time in the wake of a surprise agreement with Comcast, ending a three-month-long dispute that had taken MLB teams off the air.
With the NBA and NHL deals now set, Diamond will focus on crafting a reorganization plan that will hope to address serious concerns about its economic viability moving forward. A new confirmation date has not been set, but the process is now expected to drag on long enough to cut into the upcoming NBA and NHL seasons and bleed into MLB’s offseason. If Diamond does not emerge from bankruptcy, the new deals — still pending a judge’s approval — will end at the conclusion of the 2024-25 seasons.
Diamond is scheduled to present its new deals to a bankruptcy judge on Sept. 3.
“We are appreciative of the ongoing collaboration and long-term partnerships with the NBA and NHL,” Diamond CEO David Preschlack wrote in a statement. “These new agreements that cover NBA and NHL linear and DTC [direct-to-consumer] rights are another major milestone and continue Diamond’s momentum toward emergence, which will enable us to provide value for our NBA and NHL partners and continue to serve dedicated local NBA, NHL and MLB fans.
“Having completed negotiations with key partners that provide certainty around our content and distribution, Diamond is well positioned for the future. With the support of our creditors, we are focused on finalizing our reorganization plan to support our emergence and presenting that plan to the court in due course.”
The NHL regular season begins Oct. 8, and the NBA will follow on Oct. 22.
The following nine NHL teams are currently under Diamond: Anaheim Ducks, Carolina Hurricanes, Columbus Blue Jackets, Detroit Red Wings, Los Angeles Kings, Minnesota Wild, Nashville Predators, St. Louis Blues and Tampa Bay Lightning.
The 12 Diamond teams in the NBA are the: Atlanta Hawks, Charlotte Hornets, Cleveland Cavaliers, Detroit Pistons, Indiana Pacers, LA Clippers, Memphis Grizzlies, Miami Heat, Milwaukee Bucks, Minnesota Timberwolves, Oklahoma City Thunder, Orlando Magic and San Antonio Spurs.
Diamond also has 12 MLB teams under its portfolio, but three of them — the Texas Rangers, Cleveland Guardians and Minnesota Twins — signed one-year contracts before the start of the season. Diamond only has the DTC rights for five smaller-market MLB teams.
Details of the new NBA and NHL deals are not known. The linear agreements vary on a team-by-team basis, but DTC rights are granted by the leagues on behalf of all the teams.