The Twins last week entered into negotiations with Barry Sports North to televise the team’s games in 2024. It remains to be seen whether the fee being discussed will be a Christmas bonus for the budget-conscious Twins.
The Twins’ contract with BSN, which paid the team more than $54 million for the 2023 season, expired at the end of the season, but the regional sports network and its bankrupt parent company, Diamond Sports Group, expressed “strong and sincere interest in renewing the contract.” ” has been expressed. According to two sources familiar with the talks, relations between the two countries will continue for another year. Discussions took place last week, but neither source confirmed published reports that the network had made a formal offer or disclosed the proposed funding.
After Diamond declared bankruptcy last March, BSN defaulted on payments and later argued in a bankruptcy court hearing in Houston that the network would lose money by airing the Twins, so BSN’s offer was based on an expiring contract. It is estimated that the amount is lower than the amount requested, perhaps significantly lower. Because of that possibility, the Twins’ willingness to continue with BSN for even one year is by no means guaranteed.
Mediation reportedly strengthened the Diamonds’ commitment to nine of the other 11 teams still under contract, in a last-ditch effort by the network. The Sports Business Journal reports that Diamond has agreed to pay the Angels, Brewers, Braves, Cardinals, Marlins, Rays, Reds, Royals and Tigers all rights fees due in 2024.
This leaves the Guardians and Rangers, like the Twins, who had to go to court to force the Diamonds to honor their contracts last summer, without a broadcast partner for next season. However, the Diamonds are also reportedly attempting to negotiate lower rights fees with these teams.
The regional networks already have deals in place with NBA and NHL partners, including the Timberwolves and Wild, to televise games this season, and will terminate the deals once they are done. Terms of the reportedly tentative agreement with the MLB team have not been disclosed, but it is likely to expire after the 2024 season.
Time is running out for the Twins, with seven weeks remaining until players arrive at training camp, not to mention how fans will watch games next year and how much revenue they can expect. However, it remains unclear. The Twins have already confirmed they plan to cut his payroll from last season’s record $154 million.
A federal bankruptcy court hearing will be held in Houston on January 10th, when Judge Christopher Lopez is expected to rule on whether the as-yet-unsigned deal between Diamond and MLB Partners can move forward. .
The hearing will be an unofficial deadline for the Twins, and an announcement regarding the team’s intentions could be made soon after, according to sources. Once you agree to the BSN terms, your broadcast plan will be finalized. If not, the Twins’ only option is to ask MLB to produce and distribute the game, as the league did last year (and again in 2024) with the Padres and Diamondbacks, whose contracts with the Barry Regional Network were terminated. It seems to be.
Even if the Twins sign a deal with BSN for satellite and cable broadcasts, they could still ask MLB to stream games on the MLB.TV app. Several teams have reportedly expressed concerns about allowing Barry to stream games due to numerous technical issues with the app while streaming NBA and NHL games.
Another wrinkle looms in Diamond’s efforts to keep the Ballybrand network alive into 2024. That’s because the company’s contract with Charter Communications, the second-largest cable operator in the United States, is set to expire in February. If Charter chooses to eliminate its regional sports networks, it would further reduce the bankrupt company’s revenue stream and potentially lead to NBA and NHL teams pulling out of the deal.
The uncertainty surrounding local broadcasting has disrupted baseball’s entire financial plan. According to Forbes magazine, local broadcasting accounted for 22% of MLB team revenue in 2023.