Diamond Sports Group Secures Partnerships with NBA and NHL

A month after a Houston court postponed a crucial confirmation hearing in the Diamond Sports Group bankruptcy case, the owner and operator of the largest group of regional sports networks has finalized deals to continue broadcasting games for 20 NBA and NHL teams in their local markets. Diamond has agreed to honor its legacy TV agreements with most of its NBA and NHL partners. The company will continue televising games for teams including the Atlanta Hawks, Cleveland Cavaliers, Los Angeles Clippers, Miami Heat, Milwaukee Bucks, Oklahoma City Thunder, and San Antonio Spurs through the 2024-2025 season. U.S. Bankruptcy Judge Christopher Lopez must approve these deals, as he has urged the parties to reach agreements on their own. As part of the plan, Diamond will file motions to reject contracts with the Dallas Mavericks and New Orleans Pelicans. Although the cost of subscription varies among regions, Diamond's NBA partners have agreed to a 30%-40% reduction in rights fees. The company has also secured deals with NHL teams, with a smaller reduction in rights fees compared to the NBA teams. Diamond Sports CEO David Preschlack expressed gratitude for the ongoing partnerships with the NBA and NHL, stating that the company is well-positioned for the future. With the renewal of carriage deals with Comcast, Diamond is hopeful for a successful confirmation hearing. Emergency relief is requested to be granted by September 3, with a rain date for the confirmation hearing to be set during the next court appearance.

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