This week we learned that Bally Sports’ parent company, Diamond Sports Group, had reached a deal to exit bankruptcy and end legal action with a few companies.
As a part of this deal, Diamond Sports Group has agreed to a deal that will let it continue to use the Bally Sports name for its regional sports networks (RSNs) through the 2024 MLB season. After that, the naming rights deal for the network will end and they will need to be renamed if they haven’t been renamed earlier.
Diamond Sports Group will not have to pay any money to continue to use the Bally Sports name.
This is subject to approval by the judge overseeing this case, which includes a large deal that would see Amazon invest in Bally Sports and become its official streaming service for direct-to-consumer products.
Also part of this deal, Sinclair the former owners of Bally Sports will pay Diamond Sports Group over $400 million and maintain management of the network.
It is still unknown what the long-term plans of the network are after the 2024 MLB season. Right now, NBA TV rights end after the current season and MLB has reportedly been offered a deal that would see TV rights revert to MLB teams after the end of the 2024 season.
We will need to wait and see what the judge and MLB do.