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Guardians, Twins, Rangers regional networks deal approved by bankruptcy judge – Winnipeg Free Press

Posted on by Neons

HOUSTON (AP) – Regional broadcast deals for the Cleveland Guardians, Minnesota Twins and Texas Rangers for the upcoming season were approved by a federal bankruptcy judge on Friday.

Diamond Sports Group reached modified agreements with three teams last week. All three deals expire at the end of the 2024 season.

Diamond Sports has been in Chapter 11 bankruptcy in the Southern District of Texas since filing for protection last March. The company said in its financial statement at the end of 2021 that it had $8.67 billion in debt. It reached a restructuring agreement with creditors last month, which is still pending.

FILE - The Bally Sports logo is seen during a spring training baseball game at Roger Dean Stadium, Saturday, March 4, 2023, in Jupiter. Amazon will partner with Diamond Sports as part of a restructuring deal as the largest company. It seems that the owner of the regional sports networks will come out of bankruptcy. Diamond owns 18 lines under the Bally Sports banner. The networks own the rights to 37 professional teams -- 11 in baseball, 15 in the NBA and 11 in the NHL. (AP Photo/Lynne Sladky, File)
FILE – The Bally Sports logo is seen during a spring training baseball game at Roger Dean Stadium, Saturday, March 4, 2023, in Jupiter. Amazon will partner with Diamond Sports as part of a restructuring deal as the largest company. It seems that the owner of the regional sports networks will come out of bankruptcy. Diamond owns 18 lines under the Bally Sports banner. The networks own the rights to 37 professional teams — 11 in baseball, 15 in the NBA and 11 in the NHL. (AP Photo/Lynne Sladky, File)

Diamond owns 18 lines under the Bally Sports banner. These networks own the rights to 37 professional teams – 11 baseball, 15 NBA and 11 NHL.

The Twins' deal with Diamond expired at the end of last season. The deals with the Guardians and defending World Series champion Rangers were restructured for less money.

The three-team deals would leave the Arizona Diamondbacks and San Diego Padres as the only Major League Baseball production teams for 2024.