In a significant development for sports broadcasting, Diamond Sports Group has received approval from a federal judge to emerge from bankruptcy after a 20-month process. The nation’s largest operator of regional sports networks (RSNs), whose broadcasts were recently rebranded from Bally Sports to FanDuel Sports Network, expects to complete the restructuring in the coming weeks. This marks the end of a saga filled with twists and turns that at times made it seem like the company was headed for liquidation.
What Does This Mean for Fans?
For fans of the 27 MLB, NBA and NHL teams that remain in Diamond’s portfolio, the immediate impact may be minimal. Broadcasts will continue, now under the FanDuel Sports Network branding. However, changes are coming in how fans can access games:
- Direct-to-consumer streaming: Fans in each team’s designated market will be able to stream games through the FanDuel Sports Network website or app by purchasing monthly or season passes. Pricing will vary by market.
- Amazon Prime Video: At a future date and for an additional cost, Amazon Prime subscribers will gain access to stream their local team’s games.
As traditional cable and satellite subscriptions continue to decline, the shift towards standalone streaming options for RSNs seems inevitable. Diamond’s new deals reflect this reality. The key question is whether enough fans will be willing to pay for these a la carte options to offset the losses from cord-cutting.
MLB Teams Impacted
Through the bankruptcy process, Diamond has shed over half of the MLB teams it previously carried, going from 14 to just six. The remaining teams are:
- Atlanta Braves
- Detroit Tigers
- Los Angeles Angels
- Miami Marlins
- St. Louis Cardinals
- Tampa Bay Rays
All of these teams have signed revised deals with Diamond that include the crucial direct-to-consumer streaming rights. This was a key sticking point in negotiations, as MLB has been eager to offer in-market streaming options without the blackout restrictions of the past.
The other MLB teams formerly with Diamond have gone in different directions. The San Diego Padres, Arizona Diamondbacks, Cleveland Guardians, Minnesota Twins, Milwaukee Brewers and Cincinnati Reds have all pivoted to having their games produced and distributed by MLB directly. The Texas Rangers are seeking an alternate local media partner. The Kansas City Royals remain in talks with Diamond.
NBA and NHL Largely Unaffected, For Now
In contrast to MLB, Diamond’s partnerships with NBA and NHL teams have remained largely intact, at least through the 2024-25 season. Thirteen NBA teams and eight NHL clubs still have linear and streaming deals in place with Diamond/FanDuel Sports Network:
NBA Teams: Atlanta Hawks, Charlotte Hornets, Cleveland Cavaliers, Detroit Pistons, Indiana Pacers, LA Clippers, Memphis Grizzlies, Miami Heat, Milwaukee Bucks, Minnesota Timberwolves, Oklahoma City Thunder, Orlando Magic, San Antonio Spurs
NHL Teams: Carolina Hurricanes, Columbus Blue Jackets, Detroit Red Wings, Los Angeles Kings, Minnesota Wild, Nashville Predators, St. Louis Blues, Tampa Bay Lightning
The NBA’s Dallas Mavericks and New Orleans Pelicans, as well as the NHL’s Anaheim Ducks, were the only teams from those leagues to leave Diamond during the bankruptcy process. It remains to be seen if there will be a larger exodus when these deals come up for renewal in the coming years.
Looking Ahead
While Diamond’s emergence from bankruptcy provides some short-term stability, the long-term future of RSNs remains murky. With cord-cutting accelerating and the cost of sports rights continuing to rise, the current model seems unsustainable.
Many sports media experts believe a direct-to-consumer future is inevitable, even for teams in large markets that still generate substantial revenue from cable deals. MLB’s efforts to gain control of more local media rights are seen as a potential first step towards an eventual league-wide streaming service.
However, not everyone is convinced that teams and leagues taking over their own local broadcasts is the answer. There are concerns about quality, with RSNs having developed expertise in sports production over decades. There are also worries that a more fragmented local media market could drive up costs for consumers.
One thing seems certain – the sports media landscape is in the midst of seismic shifts. Diamond Sports’ saga is likely just one chapter in a story that will continue to unfold in the coming years. Sports leagues, media companies, and perhaps most importantly, fans, will all have to adapt to this new reality.
