Bally Sports and parent company Diamond Sports Group have announced a restructuring of their debt that would allow the organization to emerge from bankruptcy and could make it easier for fans of the Texas Rangers, Dallas Mavericks and Dallas Stars to see their games.
As a part of the deal, Amazon would make a minority investment in Diamond Sports Group and gain the rights to stream games from the NBA, MLB and NHL on Amazon Prime for teams under contract to Bally Sports.
Bally Sports has the rights to broadcast Rangers, Mavericks and Stars games among over 30 other professional sports teams through its 18 regional sports networks.
In 2020, streaming providers YouTube TV and Hulu dropped Bally Sports from their lineups over fees, leaving cord-cutters without an option to see the games. DirecTV, Fubo and Spectrum still carry Bally Sports in Dallas-Fort Worth.
There has been no announcement on when teams could appear on Amazon Prime, which teams will be retained or how much it will cost to stream games on Amazon Prime.
The statement from Diamond Sports Group said details concerning availability and pricing would come at a later date.
Diamond CEO David Preschlack thanked Amazon for their partnership.
“We are grateful for the support from Amazon and a group of our largest creditors who clearly believe in the value-creating potential of this business. Diamond’s near-term focus will be on implementing the RSA and emerging from bankruptcy as a going concern for the benefit of our investors, our employees, our team, league and distribution partners, and the millions of fans who will continue to enjoy our broadcasts,” Preschlack said .
The deal still must be approved by the U.S. Bankruptcy Court for the Southern District of Texas before it can become official.
2024 Fort Worth Star-Telegram. Distributed by Tribune Content Agency, LLC.
Read the full article here
