Diamond Sports Group, the parent company of regional sports network Bally Sports, has agreed to continue carrying more than 20 NHL and NBA teams on linear television through the 2024-25 season in a move seen as a key one for the company as it seeks to emerge from bankruptcy court.
The deal also includes the Detroit Red Wings and Detroit Pistons, whose games will continue to be broadcast on Bally Sports Detroit and the Bally Sports Plus app.
The agreement was announced Friday and confirmed by Bally Sports Detroit.
“We appreciate our continued collaboration and long-term partnership with the NBA and NHL,” Diamond Sports Group CEO David Pleschlak said in a statement. “These new agreements, covering linear and DTC (direct-to-consumer) rights for the NBA and NHL, are another major milestone in continuing Diamond’s momentum toward emergence (from bankruptcy) and allow us to continue delivering value to our NBA and NHL partners and serving our passionate local NBA, NHL and MLB fans.”
“Having completed negotiations with key partners that will provide certainty around content and distribution, Diamond is well positioned for the future.
“We appreciate the support of our creditors and are focused on finalizing a restructuring plan that will support our recovery and filing that plan with the court in a timely manner.”
Friday’s announcement did not include Major League Baseball. Teams under contract with Bally, including the Tigers, are covered through the end of the 2024 season. The long-term future of Bally’s partnership with MLB is unclear. Key financial details of the NHL and NBA deals were not disclosed, but many teams, including the Pistons and possibly the Red Wings, are expected to receive significant cuts in rights fees.
Friday’s announcement covers nine NHL teams and 13 NBA teams, with Diamond Sports Group also considering terminating its contracts with the New Orleans Pelicans and Dallas Mavericks.
Diamond Sports Group has contracts with 11 MLB teams.
Sinclair Broadcast Group acquired 21 RSNs from The Walt Disney Company for nearly $10 billion in 2019, just as the cable company market began to collapse due to streaming options and cord-cutting. Diamond Sports Group, a subsidiary created to run a stable of Bally Sports RSNs, filed for Chapter 11 bankruptcy protection in March 2023, citing more than $8 billion in debt.
The deals with the NHL and NBA, along with deals late last month with major national cable providers including Comcast (Xfinity), are seen as the latest positive step for the Diamonds as they emerge from bankruptcy. Diamond Sports Group has also secured Amazon as an investor to start streaming games in the future, though it’s unclear when.
tpaul@detroitnews.com
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