It is widely assumed that Diamond Sports Group, owner of the Bally Sports regional networks, is on its way to bankruptcy. While Major League Baseball commissioner Rob Manfred says his league has a contingency plan, the NBA raised a few eyebrows by renewing a deal with the troubled media company.
Sources tell John Ourand of Sports Business Journal that the NBA has renewed its local streaming rights deal with Diamond. The deal technically runs through the 2024-25 season, which is the same year its other media contracts end, but is structured as a series of one-year deals.
The league reportedly gave Diamond Sports Group a list of 13 conditions for renewal. All 13 have currently been met. The teams who have their local media rights with a Bally Sports network will continue to have those games streamed through the Bally Sports+ app.
That doesn’t mean that Diamond is out of the woods yet with the NBA. If the company files for bankruptcy as expected, it would be in violation of the agreement and the NBA can take the streaming rights away.
Ourand reports that the NBA has its own contingency plan should Diamond Sports Group enter freefall while in bankruptcy.
