Amazon will partner with Diamond Sports as part of a restructuring agreement as the largest owner of regional sports networks looks to emerge from bankruptcy.
Diamond owns 18 networks under the Bally Sports banner. Those networks have the rights to 37 professional teams: 11 MLB, 15 NBA and 11 NHL.
Diamond Sports has been in Chapter 11 bankruptcy proceedings in the Southern District of Texas since it filed for protection last March. The company said in a late 2021 financial filing that it had debt of $8.67 billion.
The terms of the agreement were announced by Diamond Sports on Wednesday morning. Amazon had no comment. It remains subject to approval by the bankruptcy court.
The agreement with Diamond Sports’ largest creditors allows it to emerge from bankruptcy, continue operations and prevents a total collapse of the regional sports network system where the NBA, NHL and MLB would have to step in to take over production and distribution of most of their teams.
Last season, MLB had to take over production and distribution of the San Diego Padres and Arizona Diamondbacks after Diamond let rights payments to the Padres lapse and was unable to agree to an amended deal with the Diamondbacks.
Under the terms of the restructuring agreement, Amazon will make a minority investment in Diamond and enter into a commercial arrangement to provide access to Diamond’s content via Prime Video.
Customers will be able to access their local team’s content on Prime Video channels where Diamond has rights. Pricing and availability will be announced at a later date. Regional sports content will also remain available on cable and satellite providers.
An attorney for Diamond Sports Group called the agreement a “watershed” moment for the company’s bankruptcy process in a court hearing later Wednesday. But attorneys for MLB and the NBA noted that the leagues had just been made aware of the deal and still had a lot to sift through, a point later echoed by an attorney for the unsecured creditor committee.
An attorney for Diamond assured the bankruptcy judge that it will broadcast nine teams under its portfolio for the entirety of the 2024 MLB season and will pay what it owes those teams under its current contract, while adding that it is in talks with three other teams on broadcasting their games at a reduced price. The attorney did not name the latter three teams, but the reigning World Series champion Texas Rangers are among them.
A hearing between MLB and Diamond Sports Group that had been scheduled for Friday — and was rescheduled from last Wednesday — has been pushed back indefinitely. Diamond previously faced a March deadline to firm up a restructuring plan but says it will provide details for its new arrangement well ahead of that date.
“There’s a lot to take in, a lot to digest,” Judge Chris Lopez said as part of his closing remarks.
Diamond also has an agreement in principle with Sinclair to settle the pending litigation between the companies and the other named defendants. The settlement is supported by Diamond’s creditors that are parties to the RSA.
Sinclair Broadcast Group bought the regional sports networks from The Walt Disney Co. for nearly $10 billion in 2019. Disney was required by the Department of Justice to sell the networks for its acquisition of 21st Century Fox’s film and television assets to be approved.
Even before Sinclair bought the regional networks, the business was in a downturn due to cord-cutting and declines in advertising revenue after entering into exorbitant long-term deals with some teams.
Under an agreement with creditors last year, Diamond Sports Group became a separate company from Sinclair.
As part of the settlement, Sinclair will pay Diamond $495 million and provide ongoing services to support Diamond’s reorganization. The proceeds from the settlement will also pay off some creditors.
“We are thrilled to have reached a comprehensive restructuring agreement that provides a detailed framework for a reorganization plan and substantial new financing that will enable Diamond to operate and thrive beyond 2024,” Diamond Sports CEO David Preschlack said in a statement. “We are grateful for the support from Amazon and a group of our largest creditors who clearly believe in the value-creating potential of this business. Diamond’s near-term focus will be on implementing the RSA and emerging from bankruptcy as a going concern for the benefit of our investors, our employees, our team, league and distribution partners, and the millions of fans who will continue to enjoy our broadcasts.”
Diamond recently reached agreements with the NHL and NBA to keep local rights through the end of this season. It remains in discussions with MLB on reworked agreements for the upcoming season, with the next court hearing scheduled for Friday.
ESPN’s Alden Gonzalez and The Associated Press contributed to this report.
ESPN baseball reporter. Covered the L.A. Rams for ESPN from 2016 to 2018 and the L.A. Angels for MLB.com from 2012 to 2016.
LOS ANGELES — Roki Sasaki donned a No. 11 Los Angeles Dodgers jersey atop a makeshift stage Wednesday afternoon and called it the culmination of “an incredibly difficult decision.”
When Sasaki was posted by the Chiba Lotte Marines in the middle of December — a development evaluators have spent years anticipating — 20 major league teams formally expressed interest. Eight of those clubs were granted initial meetings at the L.A. offices of Sasaki’s agency, Wasserman. Three were then named finalists in the middle of January, prompting official visits to their ballparks. And in the end, to practically nobody’s surprise, it was the Dodgers who won out.
The Dodgers had long been deemed favorites for Sasaki, so much so that many viewed the pairing as an inevitability. In the wake of that actually materializing, scouts and executives throughout the industry have privately complained about being dragged through what they perceived as a process that already had a predetermined outcome. Some have also expressed concern that the homework assignment Sasaki gave to each of the eight teams he initially met with, asking them to present their ideas for how to recapture the life of his fastball, saw them provide proprietary information without ultimately having a reasonable chance to get him.
Sasaki’s agent, Joel Wolfe, admitted he has heard some of those complaints over the past handful of days.
“I’ve tried to be an open book and as transparent as possible with all the teams in the league,” said Wolfe, who has vehemently denied claims of a predetermined deal from the onset. “I answer every phone call, I answer every question. This goes back to before the process even started. Every team I think would tell you that I told each one of them where they stood throughout the entire process, why they got a meeting, why they didn’t get a meeting, why other teams got a meeting. I tried to do my best to do that. He was only going to be able to pick one.”
Sasaki, 23, is considered one of the world’s most promising pitching prospects, with a triple-digit fastball and an otherworldly splitter. Through four seasons in Nippon Professional Baseball, Sasaki posted a 2.10 ERA, a 0.89 WHIP and 505 strikeouts against just 88 walks in 394⅔ innings. But he has openly acknowledged to teams that he is not yet fully formed, and many of those who followed him in Japan believed his priority would be to go to the team that had the best chance of making him better.
Few would argue that the Dodgers don’t fit that description. Their vast resources, recent run of success and sizeable footprint in Japan made them an obvious fit for Sasaki, but it was their track record of pitching development that landed them one of the sport’s most intriguing prospects.
“His goal is to be the first Japanese pitcher to win a Cy Young, and he definitely possesses the ability to do that,” Dodgers president of baseball operations Andrew Friedman said. “We’re excited to partner with him.”
Sasaki will join a star-studded rotation headlined by Shohei Ohtani and Yoshinobu Yamamoto, decorated Japanese countrymen who signed free agent deals totaling more than $1 billion in December 2023. The Dodgers went on to win the ensuing World Series, then doubled down on one of the sport’s richest, most talented rosters.
Over the past three months, they’ve signed starting pitcher Blake Snell for $182 million, extended utility man Tommy Edman for $74 million, given reliever Tanner Scott $72 million, brought back corner outfielder Teoscar Hernandez for $66 million, added another corner outfielder in Michael Conforto ($17 million) and struck a surprising deal with Korean middle infielder Hyeseong Kim ($12.5 million). At some point, they’ll finalize a contract with another back-end reliever in Kirby Yates and will bring back longtime ace Clayton Kershaw.
But Sasaki, who has drawn the attention of Dodgers scouts since he was throwing 100-mph fastballs in high school, was the ultimate prize.
“As I transition to the major leagues, I am deeply honored so many teams reached out to me, especially considering I haven’t achieved much in Japan,” Sasaki, speaking through an interpreter, said in front of hundreds of media members. “It makes me feel more focused than ever. I am truly grateful to all the team officials who took the time to meet with me during this process.
“I spent the past month both embracing and reflecting on this once-in-a-lifetime opportunity to choose a place purely based on where I can grow as a player the most,” Sasaki continued. “Every organization helped me in its own way, and it was an incredibly difficult decision to choose just one. I am fully aware that there are many different opinions out there. But now that I have decided to come here, I want to move forward with the belief that the decision I made is the best one, trust in those who believed in my potential and (have) conviction in the goals that I set for myself.”
Major League Baseball heard complaints from rival teams about a prearranged deal between Sasaki’s side and the Dodgers before he was posted, prompting an investigation “to ensure the protocol agreement had been followed,” a league official said in a statement. MLB found no evidence, prompting Sasaki to be included as part of the 2025 international signing class.
Because he is under 25 years old and spent less than six seasons in NPB, Sasaki was made available as an international amateur, his earnings restricted to teams’ signing-bonus pools. The Dodgers gave him $6.5 million, which constitutes the vast majority of their allotment, and will control Sasaki’s rights until he attains the six years of service time required for free agency. Sasaki said his immediate goal is to “beat the competition and make sure I do get a major league contract.”
Sasaki combined to throw barely more than 200 innings over the past two years and is expected to be handled carefully in the United States. The Dodgers won’t set a strict innings limit for him in 2025 but will deploy a traditional six-man rotation, which also makes sense with Ohtani returning as a two-way player. The Dodgers’ initial meeting with Sasaki saw them tout the way their training staff, pitching coaches and performance-science group work in harmony. In their second, they brought out Ohtani, Edman, Freddie Freeman, Mookie Betts and Sasaki’s catcher, Will Smith, in hopes of wooing him. And in the end, it was Ohtani who broke the news to the Dodgers’ front-office members, letting them know they landed Sasaki in a text before his agent could get around to calling.
Friedman described it as “pure excitement.” Many others, however, rolled their eyes at what they felt was inevitable. Wolfe denied that, saying, “I don’t believe [the Dodgers] was always the destination.” But then he went on to describe how prevalent the Dodgers are in Japan. Their games are on every morning and rebroadcast later at night. Dodgers-specific shops outfit stadiums throughout the country.
“They’re everywhere,” Wolfe said. “And I think that all the players and fans see the Dodgers every day, so it’s always in their mind because of Ohtani and Yamamoto. But when (Sasaki) came over here, he came with a very open mind.”
NHL teams don’t necessarily need a goaltender that can drag them to the Stanley Cup, mostly because those types of netminders are unicorns. What they need is a goalie that can make a save at a critical time; and, perhaps most of all, not lose a game for the team in front of them.
As the NHL playoff picture comes into focus, so does the quality of every team’s most important position. Will their goaltending be the foundation for a playoff berth and postseason run? Or is it the fatal flaw in their designs on the Stanley Cup?
The NHL Bubble Watch is our monthly check-in on the Stanley Cup playoff races using playoff probabilities and points projections from Stathletes for all 32 teams. This month, we’re also giving each contending team a playoff quality goaltending rating based on the classic Consumer Reports review standards: Excellent, Very Good, Good, Fair, Poor.
We also reveal which teams shouldn’t worry about any of this because they’re lottery-bound already.
But first, a look at the projected playoff bracket:
Ohio State‘s 34-23 victory over Notre Dame in Monday night’s College Football Playoff National Championship game was the most-watched game of the season. However, it was a double-digit drop in viewers from last year.
ESPN announced Wednesday that the Buckeyes’ second national championship in the CFP era averaged 22.1 million viewers. It was the most-watched, non-NFL sporting event over the past year, but a 12% drop from the 25 million who tuned in for Michigan’s 34-13 victory over Washington in 2024.
It was the third-lowest audience of the 11 CFP title games, with all three occurring in the past five years. The audience peaked at 26.1 million viewers during the second quarter (8:30 to 8:45 p.m. ET) when the score was tied at 7.
Since Alabama’s 26-23 overtime victory over Georgia in 2018, the past seven title games have had an average margin of victory of 25.4 points. Ohio State had a 31-7 lead midway through the third quarter before Notre Dame rallied to get within one possession with five minutes remaining in the fourth.
Georgia’s 65-7 rout of TCU in 2023 was the least-viewed title game (17.2 million) followed by Alabama’s 52-24 win over Ohio State in 2021 (18.7 million). The first title game in 2015 — the Buckeyes’ 42-20 victory over Oregon — remains the most-watched college football game by viewers in the CFP era, according to Nielsen at 33.9 million.
This was the first year of the 12-team field. The first round averaged 10.6 million viewers with the quarterfinals at 16.9 million. The semifinals averaged 19.2 million, a 17% decline from last year. Both semifinal games in 2024 though were played on Jan. 1. Michigan’s OT victory over Alabama in the Rose Bowl drew a bigger audience (27.7 million) than the Wolverines’ win in the title game.
CFP games ended up being nine of the 10 most-viewed this season. Georgia’s OT win over Texas in the SEC championship on ABC/ESPN was sixth at 16.6 million.