Diamond Sports, the owner of Bally Sports-branded regional sports networks, has announced plans to drop all MLB teams from its channels, except for the Atlanta Braves. The company has reached out to the 11 affected teams, including the Cincinnati Reds, Cleveland Guardians, and Los Angeles Angels, with proposed contracts to determine the future of MLB on its networks.
This move comes as part of Diamond’s ongoing bankruptcy process and efforts to finalize a reorganization plan. The company’s attorney, Andrew Goldman, stated that rejecting the teams is not their preferred path, but rather a necessary step due to the current financial situation.
Diamond has been struggling with debt since its acquisition by Sinclair in 2019, and the decline of the pay-TV business has further exacerbated the issue. The company has been trying to reset rights payments to reflect market rates, leading to the rejection of contracts and teams finding new TV and streaming homes.
The MLB has expressed disappointment and concern over the situation, with attorney James Bromley stating that some clubs are being left out in the cold. The league had previously rejected Diamond’s proposal, which led to the current impasse.
Despite the challenges, Diamond remains committed to emerging from bankruptcy protection and honoring its contracts with the NBA and NHL through the end of the season. The company believes its linear and digital offerings provide the best economic and fan-friendly engine for its team partners.
As the situation unfolds, it remains to be seen how the MLB teams will adapt to the new landscape and find alternative broadcasting arrangements. One thing is certain, however – the world of regional sports networks is undergoing a significant transformation, and Diamond’s decision is just the latest chapter in this ongoing saga.
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