Diamond Sports Group has reportedly made its rights fee payment to the San Diego Padres, which averted triggering a clause in the contract that would revert the clubs television rights back to MLB.
Earlier this month, Diamond Sports Group — which operates the Bally Sports-branded regional sports networks — admitted it had not paid the Arizona Diamondbacks. Reports then surfaced that in bankruptcy proceedings, the company would look to get out of its contracts with the Padres, Cincinnati Reds, and Cleveland Guardians in addition to the Diamondbacks.
Earlier reports on the matter claimed that Bally Sports San Diego loses $20 million per season on the current deal with the Padres.
During a Wednesday appearance on 97.3 The Fan, the team’s flagship radio home, Padres CEO Erik Greupner said he had been given assurances that payment would be given to the team before the grace period deadline eclipsed, which was at 11:59 PM tonight.
San Diego’s Opening Day is tomorrow, and had the cable channel failed to make its payment, MLB has previously said it would step in to produce and distribute any games that had seen disruptions due to the downfall of either the Bally Sports or AT&T SportsNet regional sports networks.
Sports Business Journal reports Diamond Sports Group was motivated to make its rights fee payment to the Padres due to the team’s likelihood of on-field success in 2023. With star players like Manny Machado, Fernando Tatis Jr., Juan Soto, Xander Bogaerts, and Yu Darvish, the team is expected to be a World Series contender.
