Diamond Sports Group’s Road to Solvency: NBA, MLB, and NHL Broadcasts at Stake in Reorganization Plan

Diamond Sports Group, which is known for broadcasting NBA, MLB, and NHL games on its Bally Sports networks, has recently received an extension from U.S. Bankruptcy Judge Christopher Lopez. The company now has until May 22 to vote on its reorganization plan, with a final ruling on its solvency set for June 18. Key negotiations with distributors such as Comcast and DirecTV are ongoing, following a multiyear agreement with Charter two weeks prior.

Sources indicate that the NBA, MLB, and NHL broadcasts on Diamond’s networks are highly valuable, making it essential for current distribution negotiations to succeed. If an agreement with Comcast cannot be reached, Diamond’s reorganization plan may be at risk. Previously facing liquidation, Diamond has secured financing from creditors to address its $8 billion in debt and received an investment offer from Amazon contingent upon a successful emergence from bankruptcy.

An important development for the NBA is to determine the viability of the broadcaster going forward. With ongoing negotiations and potential investments, the future of Diamond Sports Group remains uncertain but pivotal for the sports broadcasting landscape.