Tampa Bay Lightning right wing Nikita Kucherov (86) celebrates his goal against the Nashville Predators with center Brayden Point (21) during the first period of an NHL hockey game on Tuesday, Oct. 10, 2023, in Tampa, Fla. (` Photo/Chris O'Meara)
The NHL and Diamond Sports Group, the largest owner of regional sports networks, have reached an agreement that will see 11 teams broadcast locally on Bally Sports through the end of this season.
The agreement, contained in a statement of claim filed Wednesday, requires court approval. Diamond Sports has been in Chapter 11 bankruptcy proceedings in the Southern District of Texas since the company filed for protection in March. The company said in a financial report last year that it had $8.67 billion in debt.
While some teams will see a reduction in rights payments, local rights for these 11 franchises will revert back to the NHL at the end of this season.
The agreement provides stability for fans, networks and teams after Major League Baseball had to take over broadcasts of the San Diego Padres and Arizona Diamondbacks games last season after deals could not be reached.
The NHL teams currently playing on Bally are: Anaheim, Carolina, Columbus, Dallas, Detroit, Florida, Los Angeles, Minnesota, Nashville, St. Louis and Tampa Bay
Diamond also reached a similar agreement with the NBA last month for the 15 teams contracted to the RSNs.
Diamond is also in discussions with Major League Baseball about revised agreements for the 2024 season with up to 11 teams. The next court hearing is scheduled for January 10th.
If successful, Diamond would end agreements with all of its professional sports teams after the current or upcoming season, giving leagues and franchises a little more time to find a new path due to the potential implosion of regional sports networks.
Diamond is currently negotiating with Amazon to become a strategic partner that could help avert liquidation. The Amazon-Diamond negotiations were first reported in the Wall Street Journal.
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