A microphone with the Bally logo is used during the postgame interview after the Atlanta Braves defeated the Minnesota Twins 3-0 at Truist Park on June 28, 2023 in Atlanta, Georgia.
Todd Kirkland | Getty Images
Major League Baseball is out of here.
Diamond Sports, owner of the Bally Sports-branded regional sports network, said Wednesday it plans to remove all MLB teams except the Atlanta Braves from its channels.
Bally Sports has more than a dozen networks in the United States, and Diamond has coverage of all 11 teams on its live broadcasts: Cincinnati Reds, Cleveland Guards, Detroit Tigers, Kansas City Royals, Los Angeles Angels, Miami Marlins, Milwaukee Brewers, Minnesota Twins, St. Louis Cardinals, Tampa Bay Rays and Texas Rangers — confirm MLB on the net with revised proposed contracts future.
An attorney for Diamond made the remarks before a U.S. bankruptcy judge on Wednesday as part of an update on the company’s ongoing bankruptcy proceedings and an attempt to finalize a reorganization plan.
A spokesman for Diamond said some of those teams’ contracts are set to end this season, while some have yet to be finalized through the bankruptcy process.
Major League Baseball’s regular season ended earlier this week and the playoffs have begun. Regional sports networks primarily broadcast regular season games.
“To be clear, rejecting these teams is not our preferred path,” Diamond attorney Andrew Goldman said Wednesday. “Our preferred plan is to bring as many teams as possible into the restructured (corporate) team.”
He added that the company is still in talks with individual clubs, but discussions with the MLB Commissioner’s Office have ended.
“It’s unfortunate that we’re under siege like this,” MLB attorney James Bromley told a bankruptcy judge on Wednesday, adding that “some of our clubs are once again being snubbed.” MLB speaks People declined to comment.
Goldman Sachs said Diamond warned the league about the outcome in August, noting that it was a possibility if MLB rejected Diamond’s latest proposal.
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Milwaukee Brewers’ Sal Frelick hits a two-run homer during the fourth inning of Game 2 of a National League Wild Card Baseball game on Tuesday, Oct. 1, 2024, in Milwaukee , against the New York Mets.
Maury Gash | Associated Press
Regional sports networks have been a lucrative business model for teams and leagues for decades, with networks paying top dollar for on-air games. But they encountered something like Thread cutting The pay-TV business has taken a hit, leading to a loss of subscribers.
That — and the crushing debt load Diamond has been dealing with since Sinclair acquired the business Acquired from Disney in 2019 — owner of largest regional sports network portfolio document Filed for bankruptcy in March 2023.
Diamond’s attorneys have been trying to realign those royalties to reflect so-called market rates. As a result, diamond rejected contracts, seeing many teams find new television and streaming homes.
June, NBA and NHL Concerns were raised about the viability of Diamond’s business, especially ahead of the sales season that starts this month.
A Diamond lawyer said Wednesday was a “watershed moment” for the company as it was able to submit a revised restructuring plan. Although Diamond aims to exit bankruptcy, the possibility of closing the business remains. still, Lawyers said the company promised the NBA and NHL that it would fulfill its contracts before the end of the season.
“Today’s submission of a baseline plan marks an important step forward for Diamond in positioning us to emerge from bankruptcy and become a viable business moving forward by the end of the year,” a Diamond spokesperson said in a statement. We have submitted proposals to MLB team partners and are still in discussions about future plans. We firmly believe that through our linear and digital products, we have created the most economical and fan-friendly engine for all team partners. “
diamond fight The partnership with Major League Baseball (MLB) begins before the application is submitted.
Diamond has been trying unsuccessfully for some time to have streaming rights to all MLB teams that air on its network.
Last year, the San Diego Padres and Arizona Diamondbacks left With their Bally Sports Network, the league began producing and distributing games on pay-TV bundles and MLB Television.
