Diamond Sports Group, the Sinclair subsidiary that controls the regional sports networks for 42 teams across Major League Baseball, the National Hockey League and the National Basketball Association, announced that it has filed for Chapter 11 bankruptcy on Tuesday night, three days before the end of a 30-day grace period it entered into with creditors.
As part of a news release, Diamond, which has more than $8 billion in debt, said it “intends to use the proceedings to restructure and strengthen its balance sheet” and that the RSNs “will continue to operate in the ordinary course during the Chapter 11 process.” The company added that it possesses $425 million of cash in order to continue funding its business during the process.
MLB, whose teams draw significant revenues from its RSN deals with companies like Sinclair, is the most directly impacted by Diamond’s situation, given that its season will begin in less than three weeks. Diamond owns the rights to 14 major league teams and must continue to pay them their rights fees; otherwise, teams would be free to break their contracts, at which point MLB might take over broadcasting duties
MLB issued a statement on Tuesday night, calling the bankruptcy declaration an “unfortunate development” but assuring fans that they will not miss their team’s games this season.
“Despite Diamond’s economic situation, there is every expectation that they will continue televising all games they are committed to during the bankruptcy process,” the statement read. “Major League Baseball is ready to produce and distribute games to fans in their local markets in the event that Diamond or any other regional sports network is unable to do so as required by their agreement with our Clubs.”
The statement mentioned MLB’s experience with streaming live games on MLB.tv and producing games for MLB Network as proof of its capability “to deliver games to fan uninterrupted.”
“We think it will be both linear in the traditional cable bundle and digitally on our own platforms,” MLB commissioner Rob Manfred said of what it would look like if MLB takes on the responsibility of airing games in local markets at the onset of spring training. “But that remains to be seen.”
Sinclair, with Diamond acting as a subsidiary, purchased the RSNs from Fox in 2019, after Disney was forced to sell them off, for $10.6 billion. In the process, though, the company took on roughly $8 billion in debt, putting itself in a precarious position as the rate of cord-cutters increased.
Diamond, which initially began its grace period after skipping a $140 million interest-only payment to creditors in the middle of February, announced Tuesday it will now separate its business from Sinclair and become a standalone company. During bankruptcy proceedings, Diamond’s debt will turn into equity for its secured creditors.
The goal, a source familiar with the situation said, is for the company to acquire streaming rights for all 14 of its major league teams in order to broadcast games both through a linear cable model and on direct-to-consumer platforms. At the moment, Diamond has rights to stream the games to just five teams. It would have to negotiate the other nine with MLB, but MLB has previously been hesitant to sign off on additional rights for a company that has yet to prove itself financially sustainable.
Diamond’s filing was made through the U.S. Bankruptcy Court for the Southern District of Texas. In a statement, Diamond CEO David Preschlack wrote that the restructuring process “will allow [Diamond] to evolve our business while continuing to provide exceptional live sports productions for our fans.”
“With the support of our creditors,” Preschlack added, “we expect to execute a prompt and efficient reorganization and to emerge from the restructuring process as a stronger company.”
Diamond’s hope to building a sustainable business, a source said, is to prop up its Bally Sports+ streaming platform, ideally by making it a one-stop shop for fans to also purchase tickets and merchandise, place bets and read up on their teams. Diamond owns streaming rights for all 16 of its NBA teams and all 12 of its NHL teams, but for only about a third of its MLB teams.
Through the restructuring process, Diamond is widely expected to shed the contracts of its less-profitable teams. Not being able to acquire direct-to-consumer rights, which was part of the reason it entered into a grace period with the D-backs, will factor into which teams it chooses to hold onto.
MLB’s long-term goal, a source familiar with the league’s thinking said, is to control the rights for all its teams under one umbrella, a circumstance that could end the blackout issues that have plagued the sport in recent years. Diamond’s bankruptcy proceedings — in addition to Warner Bros. Discovery, which broadcasts the Pittsburgh Pirates, Houston Astros and Colorado Rockies, informing teams it will soon go through a liquidation — marks the beginning of that process.
In the short-term, MLB would broadcast the games of teams who end their contracts with Diamond both through their MLB.tv application and on a yet-to-be-determined cable channel. In anticipation of a development like this, MLB announced at the start of March that it had created a new local media department, headed by Billy Chambers, Sinclair’s former chief financial officer.
All team broadcasts, sources said, are expected to continue on as normal at the start of the season because Diamond is expected to keep broadcasting games while teams go through the court process of breaking free from their contracts after missed payments. The question becomes which teams Diamond will shed — the New York Post previously reported that the D-backs, Reds, Guardians and Padres will be among them — and how MLB approaches the situation thereafter.
As the defending Presidents’ Trophy winners, the New York Rangers were envisioned as a playoff team again in 2024-25. As the team on top of the league standings in early December, similar words could be written about the Minnesota Wild.
And yet, heading into Wednesday night’s matchup between the clubs (7 p.m. ET, ESPN+), nothing is certain about either team’s playoff chances after the pair has gone 8-9-3 in the past 10 games apiece.
The Wild enter the game in a playoff position, and have a 91.0% chance to make the playoffs per Stathletes. A key part of that is the team’s remaining strength of schedule; their remaining opponents have a 46.0% winning percentage, which is the second-easiest path. (Only the New Jersey Devils face a weaker slate in the final stretch.)
Compare that to the Rangers, who have a 27.3% chance, and will begin this game on the outside looking in. New York’s remaining slate is considerably more difficult; a 54.1% opponents’ winning percentage ranks as the second toughest, behind only the Detroit Red Wings.
If the Wild qualify as the first wild card, their likely first-round opponent is the Vegas Golden Knights; if they land in the second wild-card position, their likely opponent is the Winnipeg Jets. Unfortunately, Minnesota went 0-3 against both teams this season.
The Rangers’ more likely outcome as a playoff entrant is as the second wild card, which earns them a matchup against the Washington Capitals; the Caps have won all three games against New York this season. The Rangers could wind up as the first wild card, earning a matchup against the Atlantic Division champ. They went 1-2 against the Toronto Maple Leafs, 0-2 against the Florida Panthers (with one more game coming up on April 14), and 0-1 against the Tampa Bay Lightning (with games coming up on April 7 and April 17).
So, the future isn’t blindingly bright in the playoffs for these teams. But all you need is a ticket in, and unexpected things can happen!
There are just over two weeks left until the season’s end on April 17, and we’ll help you track it all with the NHL playoff watch. As we traverse the final stretch, we’ll provide details on all the playoff races, along with the teams jockeying for position in the 2025 NHL draft lottery.
Points: 80 Regulation wins: 26 Playoff position: N/A Games left: 7 Points pace: 87.5 Next game: vs. LA (Thursday) Playoff chances: 0.4% Tragic number: 7
Points: 62 Regulation wins: 23 Playoff position: N/A Games left: 7 Points pace: 67.8 Next game: @ DAL (Thursday) Playoff chances: 0% Tragic number: E
Points: 51 Regulation wins: 18 Playoff position: N/A Games left: 8 Points pace: 56.5 Next game: vs. COL (Wednesday) Playoff chances: 0% Tragic number: E
Pacific Division
Points: 98 Regulation wins: 42 Playoff position: P1 Games left: 8 Points pace: 108.6 Next game: vs. WPG (Thursday) Playoff chances: 100% Tragic number: N/A
Points: 68 Regulation wins: 25 Playoff position: N/A Games left: 7 Points pace: 74.3 Next game: @ VAN (Wednesday) Playoff chances: 0% Tragic number: E
Points: 50 Regulation wins: 14 Playoff position: N/A Games left: 8 Points pace: 55.4 Next game: vs. EDM (Thursday) Playoff chances: 0% Tragic number: E
Note: An “x” means that the team has clinched a playoff berth. An “e” means that the team has been eliminated from playoff contention.
Race for the No. 1 pick
The NHL uses a draft lottery to determine the order of the first round, so the team that finishes in last place is not guaranteed the No. 1 selection. As of 2021, a team can move up a maximum of 10 spots if it wins the lottery, so only 11 teams are eligible for the No. 1 pick. Full details on the process are here. Matthew Schaefer, a defenseman for the OHL’s Erie Otters, is No. 1 on the draft board.
VANCOUVER, British Columbia — Vancouver Canucks center Filip Chytil may miss the rest of the season after experiencing a setback in his attempt to return from another concussion.
Coach Rick Tocchet said Tuesday that Chytil has experienced good and bad days trying to work back. The 25-year-old from the Czech Republic has not played since getting concussed when he was hit from behind by Chicago’s Jason Dickinson on March 15.
“He would go out and skate and felt good, the next day not as good,” Tocchet said. “To be honest with you guys, does he play this year? Maybe the odds are against it. Plus you don’t want to put a guy in that type of position. But when a guy has good days and bad days, obviously you’re not going to play the guy.”
Asked if there was concern about Chytil’s hockey-playing career continuing because of his concussion history, Tocchet added he was not sure.
“I talked to him today and he said it was different than his last concussion,” Tocchet said. “The bad days aren’t as bad, so that’s a positive, so I think we’ve got to take the positive approach. Plus he’s got four, five months to rebuild himself, or who knows? We’ve just got to take it day by day with this guy right now.”
Vancouver acquired Chytil in late January as part of the return for trading J.T. Miller to the New York Rangers. Chytil has already had multiple concussions in the NHL and does not turn 26 until September.
The Canucks, who are making a desperate push to make the playoffs, are also not sure about the status of center Elias Pettersson, who has not played since getting injured March 22 against the Rangers. Tocchet said Pettersson was day to day.
Captain Quinn Hughes has missed time for a lower-body injury and winger Brock Boeser was temporarily sidelined by a concussion. All-Star goalie Thatcher Demko missed training camp and the beginning of the season as he worked his way back from a rare knee injury, then went down with another injury in February.
“There’s been a lot of things that’ve hit this team,” Tocchet said. “And you’re looking for culture stuff, right? Who’s all in and who’s not. When you have a lot of guys all buying in, you can withstand some stuff.”
The odds of making a playoff run aren’t in Vancouver’s favor, but everyone on the team is staying committed, Demko said, even as injuries continue to ravage the lineup.
“I think as a group, we’ve been through a lot this year,” Demko said. “It’s obviously not an easy situation right now with some of the guys out, but I feel like our effort’s been there every game. We haven’t mailed it in, we’re not using it as an excuse. We’re showing up every night and giving it a solid effort. So really proud of the guys coming together and trying to get some wins here.
Duclair played 12 minutes, 15 seconds in the Islanders’ 4-1 loss to the Lightning with zero points and finished at minus-1. He had only four shifts in the third period. It was the third straight game in which Duclair played 12:15 or less. He has averaged 15:03 in ice time this season, his first with the Islanders.
“He was god-awful. He was god-awful. He had a bad game. That’s why I didn’t play him a lot. And he’s lucky to be in the lineup. Sorry if I lose it on him right now, but that’s how I feel,” Roy said.
When asked what he’s seeing in Duclair’s game, the Islanders coach said “it’s an effort thing” for the veteran forward.
“He’s not skating, he’s not competing, he’s not moving his feet. He’s not playing up to what we expect from him,” Roy said.
Duclair has seven goals and four assists in 44 games with the Islanders, skating to a minus-15. The 29-year-old winger is averaging one point per 60 minutes — which would be a career low for the 11-year veteran. Duclair signed a four-year, $14-million free agent contract with the Islanders last summer and has a full no-trade clause through 2026.
New York is winless in its past six games, struggling down the stretch while chasing the final wild-card playoff spot in the Eastern Conference. The Islanders trail the Montreal Canadiens by five points with eight games to play.