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Thursday, January 16, 2025

Diamond RSNs Get Renewed Deals With NBA, NHL

  • The reworked agreements give the RSN operator a key base of content as it reorganizes.
  • MLB’s future status with the company is still not known.
  • The deal does not include the Mavericks or Pelicans, which makes five NBA teams that have abandoned RSNs.
Bally-Sports
Jerome Miron-USA TODAY Sports

The embattled Diamond Sports Group has struck revised rights deals with both the NBA and NHL, bringing it a significant step closer to emerging from Chapter 11 bankruptcy protection, which it filed in March 2023.

The pacts, which had been expected for several weeks, provide a key base of live content for the Bally Sports parent as it navigates both a troubled macro landscape for regional sports networks and its own internal issues. The agreements, covering the 2024-2025 seasons for both leagues, involve nine NHL teams and 13 NBA teams. They also follow a recently finalized distribution agreement with Comcast, the No. 2 cable carrier in the U.S.

DSG has filed an emergency petition with the U.S. Bankruptcy Court to have these league deals approved, and also moved to have a status conference on the matter held on Sept. 3. Time is of the essence, as both leagues have sought to have the rights issues resolved before the start of the seasons.

“These new agreements that cover NBA and NHL linear and [direct-to-consumer] rights are another major milestone, and continue Diamond’s momentum toward emergence [from bankruptcy],” said DSG CEO David Preschlack in a statement. “Having completed negotiations with key partners that provide certainty around our content and distribution, Diamond is well positioned for the future.”

Not surprisingly, the revised deals involved reduced rights fees as DSG, like other RSN operators, faces shrinking revenues amid accelerating cord-cutting. There are terms for the deals to continue beyond the upcoming NBA and NHL seasons if DSG is able to reorganize and emerge from bankruptcy.

Team Cuts

DSG’s revised relationship with the NBA includes the company cutting ties with the Mavericks and Pelicans. The New Orleans situation had already been expected, as the team recently completed a new rights arrangement with a local over-the-air TV station. But the departure of the Mavericks will make five NBA teams that have abandoned the RSN landscape altogether. 

The Trail Blazers also recently announced plans to leave Root Sports, joining the Pelicans, Suns, and Jazz in pursuing alternate structures. 

In Dallas, the Stars already left Bally Sports and created their own DTC streaming app, Victory+, which could be an option for the Mavericks, too.

What About MLB?

Despite DSG’s lifeline, a serious issue remains regarding MLB, which provides the largest chunk of DSG’s content, with 12 teams still under contract, and has also been its loudest critic throughout the bankruptcy saga. 

MLB commissioner Rob Manfred has actively sought to bring more the local media rights of more teams back in house, and at last month’s All-Star Game, he touted the growing adoption of Padres live game streams produced and distributed by the league.

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