Amazon will pay $100M to partner with Diamond Sports Group as the largest owner of regional sports networks looks to emerge from bankruptcy. Diamond Sports Group has been in Chapter 11 bankruptcy proceedings in the Southern District of Texas since filing for protection last March.
Diamond Sports announced the terms of the agreement today and will await approval from the bankruptcy court in Houston.
It is also expected, according to the New York Post, Diamond Sports will receive $500M after finalizing a settlement with parent company Sinclair.
Under the Bally Sports banner, Diamond owns 18 networks and has rights to 37 professional teams across MLB, the NBA and the NHL.
If approved, the agreement will allow Diamond Sports to continue operations and avoid the leagues or teams having to take over production and distribution as baseball had to do with the San Diego Padres and Arizona Diamondbacks last season.
The agreement is said to include all broadcasts of five MLB teams – the Detroit Tigers, Kansas City Royals, Miami Marlins, Minnesota Twins and Tampa Bay Rays.
The agreement will have Amazon providing access to Diamond Sports’ content via Prime Video. Prime already carries some games, produced by the YES Network, for the New York Yankees and Brooklyn Nets.
