The NHL and Diamond Sports Group, the largest owner of regional sports networks, have reached an agreement to continue local broadcasting of 11 teams on Bally Sports through the end of this season.
The agreement was included in a court filing Wednesday and is subject to court approval. Diamond Sports has been in Chapter 11 bankruptcy protection in the Southern District of Texas since filing for protection in March. The company said in its financial report last year that it had $8.67 billion in debt.
The local rights for these 11 franchises will return to the NHL at the end of this season, although rights fees for some teams will be reduced.
The agreement provides stability for fans, the network and the team after Major League Baseball had to take over broadcasting the game between the San Diego Padres and Arizona Diamondbacks last season after an agreement could not be reached. be.
The NHL teams currently participating in Barrie are Anaheim, Carolina, Columbus, Dallas, Detroit, Florida, Los Angeles, Minnesota, Nashville, St. Louis and Tampa Bay.
Last month, Diamond reached a similar agreement with the NBA for the 15 teams under contract with RSN.
Diamond is also in talks with Major League Baseball to revise the agreement for the 2024 season with up to 11 teams, with the next court hearing scheduled for Jan. 10.
If successful, Diamond would end its contracts with all professional sports teams after this season or next, leaving leagues and franchises with new avenues as regional sports networks could collapse. This will give you a little more time to explore.
Diamond is in talks with Amazon to become a strategic partner, which could help avoid liquidation. Amazon and Diamond’s negotiations were first reported by the Wall Street Journal.