In a significant development for sports broadcasting, Bally Sports’ parent company, Diamond Sports Group, announced today a deal to retain broadcasting rights for the majority of NBA and NHL teams through the 2024-2025 seasons. However, the agreement does not include the Dallas Mavericks and the New Orleans Pelicans, leaving their future broadcast plans uncertain.
“We are appreciative of the ongoing collaboration and long-term partnerships with the NBA and NHL. These new agreements that cover NBA and NHL linear and DTC rights are another major milestone and continue Diamond’s momentum toward emergence, which will enable us to provide value for our NBA and NHL partners and continue to serve dedicated local NBA, NHL and MLB fans. Having completed negotiations with key partners that provide certainty around our content and distribution, Diamond is well positioned for the future. With the support of our creditors, we are focused on finalizing our reorganization plan to support our emergence and presenting that plan to the Court in due course.” Said David Preschlack, CEO of Diamond Sports Group.
With this deal NBA teams have agreed to a 30% to 40% reduction in the extant rights fees Bally Sports pays.
While this short-term deal ensures continued coverage for most teams, Bally Sports faces challenges on the horizon. With this deal, if approved by the judge, it will extend their contracts past the 2024-2025 season.
Furthermore, Bally Sports may soon be forced to rebrand its channels. Diamond Sports Group’s naming rights contract with Bally’s Corporation expires at the end of the 2024 MLB season, necessitating a new name for the network.
These developments highlight the evolving landscape of sports media rights and the challenges faced by regional sports networks. Fans of the Mavericks and Pelicans will be particularly keen to learn about alternative viewing options for their teams in the coming seasons. As for Bally Sports, the company will need to navigate both contract negotiations and a potential rebranding in the near future.
Update: We updated our story with a statement from David Prechlack.