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Diamond Sports Group, the regional sports operator for 37 teams across MLB, the NHL and the NBA, dropped a bombshell early Wednesday, announcing a partnership with Amazon that, if approved in court, would place local games on Prime Video and allow the company to emerge from bankruptcy in a reimagined state.

Diamond revealed that it had secured $450 million from creditors to fund a reorganization plan, $115 million of which would be provided by Amazon. In exchange, Amazon would have access to all MLB, NHL and NBA teams for which Diamond possesses streaming rights, giving fans in nearly two dozen markets direct-to-consumer access.

It’s a stunning turn of events for a company that initially took on more than $8 billion of debt and seemed headed for liquidation — but there is still a lot to work through. Below we address some of the most pressing questions.

How surprising was this announcement?

There were reports in mid-December about the possibility of Amazon investing in Diamond to essentially secure its streaming rights. But based on comments from attorneys representing MLB and the NBA in bankruptcy court Wednesday, league officials were not involved in those talks and learned the details of this agreement along with everybody else.

In fact, the deal has the potential to undo previous agreements the leagues had negotiated with Diamond. Last fall, Diamond secured wind-down plans with the NBA and the NHL in which it would broadcast the teams in its portfolio for the 2023-24 seasons, then revert the rights back to those leagues. MLB had the framework in place for a similar deal. This Amazon arrangement could change everything. Attorneys for the NBA and MLB said in court Wednesday that they still had a lot to digest.

Which teams are part of the new agreement?

Diamond owns the linear TV rights for 15 NBA teams, 11 NHL teams and 11 MLB teams. But it’s streaming rights that matter here. Diamond has the streaming rights for all of the NBA and NHL teams under its portfolio, but for only five MLB clubs — the Miami Marlins, Tampa Bay Rays, Detroit Tigers, Milwaukee Brewers and Kansas City Royals.

These are the 15 NBA teams under Diamond: Atlanta Hawks, Charlotte Hornets, Cleveland Cavaliers, Dallas Mavericks, Detroit Pistons, Indiana Pacers, Los Angeles Clippers, Memphis Grizzlies, Miami Heat, Milwaukee Bucks, Minnesota Timberwolves, New Orleans Pelicans, Oklahoma City Thunder, Orlando Magic, San Antonio Spurs.

And these are the 11 NHL teams: Anaheim Ducks, Carolina Hurricanes, Columbus Blue Jackets, Dallas Stars, Detroit Red Wings, Florida Panthers, Los Angeles Kings, Minnesota Wild, Nashville Predators, St. Louis Blues, Tampa Bay Lightning.

What would become of that wind-down plan Diamond negotiated with the NBA and the NHL?

This agreement, if it is ultimately approved by a federal bankruptcy judge, could supersede the prior deals, which were seen by Diamond executives as something of a placeholder while the company ironed out a set restructuring plan.

Between now and the end of the regular season, nothing will change for either league. But if this deal comes together, a source familiar with the agreement said, rights would no longer revert back to the NBA and the NHL. Diamond would maintain its portfolio, though the company could then negotiate different deals with some of those teams or drop some entirely — a decision that will have to come before a predetermined March 22 deadline to provide specifics of its restructuring plan in bankruptcy court. Attorneys for the company said in court Wednesday that it expects to have that firmed up well ahead of the deadline.

NBA and NHL officials, however, were hesitant to say anything with much certainty. Representatives for both leagues spent the day sorting through the intricacies of the Diamond-Amazon agreement. The NBA had been eager to take back streaming rights for its teams, especially given that the league’s national television contracts expire after the 2024-25 season. The NHL might wait to see how open Diamond is to renegotiating some of the longer-term deals in place before the original bankruptcy announcement.

What about MLB in 2024 and beyond?

An attorney for Diamond asserted in bankruptcy court that the company will broadcast all the games and honor all the rights fees for nine of the teams in its portfolio: the Tigers, Marlins, Royals, Brewers, Rays, St. Louis Cardinals, Cincinnati Reds, Los Angeles Angels and Atlanta Braves. There are three others, the attorney said, in talks about restructured contracts. The names weren’t disclosed, but those three, according to sources, are the Texas Rangers, Cleveland Guardians and Minnesota Twins (the Twins are essentially a free agent; their contract with Diamond expired at the end of the 2023 season).

Other than the five teams partnered with Diamond, the streaming rights for the other 25 MLB teams belong to the league, which has shown no willingness to provide the company with additional rights beyond the 2024 season. Diamond’s hope is that Amazon’s presence could ultimately change that, though a person familiar with the agreement said Amazon’s involvement is not contingent on securing additional streaming rights.

In the short term, though, MLB had been working for months on gaining clarity with Diamond on the 2024 season. Many owners have pointed to that uncertainty — and the uncertainty that hangs over the entire regional sports network business, from which teams draw a significant amount of local revenue — as a reason for reduced spending this offseason. The Amazon deal going through would seemingly provide teams that remain under Diamond with the cost certainty they have coveted — but it would seemingly interrupt MLB’s long-term plan of fitting all of its rights under a national umbrella.

Does this position Amazon to become the primary partner with leagues if they look to break from the old RSN model and work with streaming companies, end blackouts, etc.?

Amazon was in position to be a primary partner before all this, and it’s tough to say how its partnership helps or hurts its cause at the moment. MLB was hopeful of securing a deal with a major streaming service — Amazon, Apple TV+, Hulu, Netflix, ESPN+, etc. — before the start of the 2025 season. But that was under the assumption that it would have at least 15 teams to offer (the 12 Diamond teams, including the Twins; the San Diego Padres and the Arizona Diamondbacks, who fell off their deals last season; and the Colorado Rockies, left without a TV deal now that Warner Bros. Discovery has exited the regional sports business). The calculus would change if the portfolio isn’t as robust.

It’s also worth noting Amazon has long been considered a front-runner to be part of a new NBA agreement, alongside at least the two current partners (Disney and Turner Sports). Those negotiations are set to play out over the next several months. However this specific agreement shakes out, what seems clear is that Amazon is going to be a significant part of the NBA’s broadcast future. As this calendar year plays out, we’ll find out just how big of a part that will be.

My favorite team’s RSN is run by Diamond. Are all my team’s games going to be on Amazon Prime now?

Only if you’re streaming. Essentially, Amazon Prime would fill the role Diamond originally envisioned for its Bally Sports+ app — providing local fans who ditch their cable subscriptions with a streaming option. The funding in this deal would allow Diamond to also keep the linear television rights in its portfolio, so fans who stick with cable can maintain their normal viewing habits.

It’s important to note, though, that location would still matter. Diamond teams on Amazon Prime will be available only to in-market fans. Out-of-market fans would still be able to watch through the leagues’ streaming services, be it MLB.tv, NBA League Pass or, for the NHL, ESPN+. But because those original cable deals would still be in place, blackouts would probably still be an issue.

How much extra is this going to cost me?

A news release from Diamond Sports Group stated that “additional details regarding pricing and availability will be announced at a later date.”

Will the broadcasts still be called Bally Sports?

As part of this agreement, Diamond broadcasts will continue to operate under the Bally Sports name this year, after which a new partner will be sought.

Is this the end of the ongoing RSN saga?

One of Diamond’s attorneys called this deal — which includes Sinclair, Diamond’s former parent company, paying a $495 million settlement and providing reorganization support — “transformational.” Another called it a “watershed” moment for a company that finally has a defined path to continuing operations beyond the 2024 MLB season.

Diamond shared projections Wednesday that showed it expects direct-to-consumer revenue to grow from $49 million in 2023 to $658 million in 2026 under the new deal. (Linear revenue would continually decline but would still account for the biggest chunk in earnings; Diamond projected a drop from $2.47 billion in 2023 to $1.78 billion in 2026.)

But Wednesday’s hearing ended with an attorney for the unsecured creditor committee poking holes in Sinclair’s settlement and the $450 million financing, casting doubt on whether it could ultimately come together. Bankruptcy Judge Christopher Lopez called the deal an “encouraging” development given where Diamond stood by the end of 2023 but added that it still must satisfy bankruptcy code.

“There’s a lot to take in,” Lopez said. “A lot to digest.”

Tim Bontemps and Kristen Shilton contributed to this report.

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Rantanen’s ‘fitting’ hat trick caps Stars’ G7 win

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Rantanen's 'fitting' hat trick caps Stars' G7 win

Many of Mikko Rantanen’s greatest moments have come in a Colorado Avalanche sweater. It’s just that the most defining moment of his career came at their expense.

It wasn’t enough that the Dallas Stars were trailing by two goals. It was also the fact that Rantanen scored a hat trick in a string of four unanswered goals that saw his current team, the host Stars, eliminate his old team, the Avalanche, in a 4-2 win Saturday in Game 7 of the Western Conference quarterfinals at the American Airlines Center.

“Obviously, the feeling was incredible to win a series,” Rantanen said in his postgame media availability. “This series was not exactly what I expected. I expected a seven-game series, even before Game 1. The ups and downs in the series. … Belief was there with the group the whole time. Obviously, I was able to make a pay to get the first one and the crowd started to roll.”

The Stars, attempting to reach the conference finals a third straight time, will advance to the semifinal round in which they will await the winner of series featuring the St. Louis Blues and Winnipeg Jets. That encounter will be decided Sunday in Game 7 in Winnipeg.

Soon, the Stars’ collective focus will shift to another Central Division foe. But for now? The attention before, during, and after the game, was on Rantanen.

Part of what made the Avalanche-Stars series arguably the most intriguing first-round series in either conference was the fact it placed two 100-point teams that are in championship window against each other. But, it also came with several subplots with the notable being the team that traded quite a bit to land Rantanen — with the hope he could win them a Stanley Cup now — needed him to defeat the team that he won a championship with back in 2022.

With one assist through the first four games, there was a discussion about if the Stars could manage to win with a sputtering Rantanen on top of the fact they were already without two of their best players in defenseman Miro Heiskanen and forward Jason Robertson.

Rantanen responded with a three-point performance in Game 5, and a four-point performance in Game 6 only to then have a hand in each goal on Saturday. His first goal came on the power-play with 12:12 remaining in the third period when he found enough space to fire a wrist shot that beat MacKenzie Blackwood.

Then came the game-tying goal and the significance it carried. The Stars went on the power play went Avalanche forward Jack Drury was called for holding. Drury part of the trade package the Carolina Hurricanes used to get Rantanen in late January before they would trade him to the Stars.

Drury’s penalty opened the door for Rantanen to score a game-tying goal that might be one of, if not, his signature salvo. Rantanen skated into the Avalanche zone in a 1-on-3 before he split two players before going around the net for a wrap-around goal that went off the skate of Samuel Girard with 6:14 left.

Three minutes later, the Stars received another power-play opportunity that saw Rantanen along with another former Avalanche forward in Matt Duchene work together to find Wyatt Johnston for the game-winning goal.

In the final minute, the Avalanche pulled Blackwood in the attempt to grab a late goal and force over time. Instead? Stars goaltender Jake Oettinger withstood a barrage that officially ended when Stars forward Tyler Seguin got the puck out of the zone only for Rantanen to skate in on an open net for the hat trick with three seconds left.

“I couldn’t care less who scored for them, I really couldn’t,” Avalanche captain and left winger Gabriel Landeskog said when asked about what it was like to watch Rantanen score a hat trick. “Mikko is one of my best friends and I love him, but I couldn’t care if he scored or if somebody else scored.”

For eight full seasons, Rantanen was part of a homegrown movement that saw the Avalanche go from finishing with what was then the worst record in the salary cap era back in 2016-17 to become a perennial favorite to win the Stanley Cup, which did they did in 2023, while also becoming a model for the need to build through the draft.

Building through stars such as Cale Makar, Nathan MacKinnon, Landeskog and Rantanen allowed the Avalanche to become a success. As did the moves they made to get other key figures like Valeri Nichushkin and Devon Toews.

Like all teams in a championship window, the Avs were facing the prospect of possibly making a difficult decision. They had yet to agree to a new contract with Rantanen, who was a pending unrestricted free agent. Then, came the blockbuster trade that few throughout the league saw coming.

The Avalanche traded Rantanen in a three-team trade that saw them get Martin Necas and Drury along with two draft picks. Rantanen’s time with the Carolina Hurricanes was limited to just two goals and six points in 13 games.

Despite the fact the Hurricanes are also among that cadre of championship contenders, Rantanen struggled to find cohesion in Raleigh. Rather than run the risk of watching leave for nothing in free agency, the Hurricanes put out feelers to a few teams with the Stars being one of them.

A long-time admirer of Rantanen, the Stars packaged two first-round picks, three second-round picks and former prized prospect Logan Stankoven to get Rantanen. They then signed him to an eight-year contract worth $12 million annually.

“It’s two things: It’s where our team’s at, and it’s Mikko Rantanen,” Stars general manager Jim Nill told ESPN back in March.

Rantanen finished the regular season with five goals and 18 points in 20 games prior to the showdown with his former team.

Not only did Rantanen’s hat trick condemn his former team to their second first-round exit since winning the Stanley Cup, but it continued a theme of former Avalanche eliminating their previous employers.

The Avalanche and Stars faced each other in last season’s Western Conference semifinal that saw Duchene, a former Colorado first-round pick, score the game-winning goal.

A year later, it was another former Avalanche first-round pick who delivered the devastating blow.

“It seems pretty fitting,” Johnston said about Rantanen. “Obviously, we want to win for each other and I think that goes a little extra when it’s a guy like that who is such a big part of our team and was there for a long time and everyone knows the trade that went on. It’s so awesome. We’re so happy as a group for him.”

As if Rantanen scoring a hat trick in a four-goal comeback wasn’t enough, there’s also the fact that this is now the ninth consecutive Game 7 that Stars coach Peter DeBoer has won his career.

DeBoer’s nine wins in Game 7s broke a tie with Darryl Sutter for the most in NHL history. It was also DeBoer’s third game 7 wins with the Stars.

“I felt something was going to happen,” DeBoer said. “But I could not have predicted that.”

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Canes’ Andersen, 35, secures deal before Round 2

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Canes' Andersen, 35, secures deal before Round 2

RALEIGH, N.C. — The Carolina Hurricanes have signed goaltender Frederik Andersen to a one-year contract for next season, worth $2.75 million for the 35-year-old veteran.

General manager Eric Tulsky announced the deal Saturday, a little over 48 hours before his team starts the second round of the playoffs against the Washington Capitals.

Andersen could earn up to $750,000 in incentives for games played and his participation in a potential run to the Eastern Conference finals next season. He would get $250,000 for playing 35 or more games, another $250,000 for getting to 40 and $250,000 if the Hurricanes reach the East finals and he plays in at least half of the playoff games.

“Frederik has played extremely well for us and ranks in the top 10 all-time for winning percentage by an NHL goalie,” Tulsky said. “We’re excited that he will be staying with the team for next season.”

Andersen and the Hurricanes, the No. 2 seed in the Metropolitan Division, advanced past the New Jersey Devils in Round 1 last week. They will meet the Capitals, who won the division crown, for the right to make the NHL’s final four.

Extending Andersen could give the team a goaltending tandem with Pyotr Kochetkov for less than $6 million combined.

Anderson, a Denmark native who previously played for the Anaheim Ducks and Toronto Maple Leafs, has become coach Rod Brind’Amour’s most trusted option in net. He is expected to return to the starting role for Game 1 of the Capitals series after getting injured in the first round against New Jersey.

The Associated Press contributed to this report.

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Sovereignty outduels Journalism to capture Derby

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Sovereignty outduels Journalism to capture Derby

LOUISVILLE, Ky. — Sovereignty outdueled 3-1 favorite Journalism down the stretch to win the 151st Kentucky Derby in the slop on Saturday.

Trainer Bill Mott won his first Derby in 2019, also run on a sloppy track, when Country House was elevated to first after Maximum Security crossed the finish line first and was disqualified after a 22-minute delay.

This time, he knew right away.

Sovereignty won by 1½ lengths and snapped an 0-for-13 Derby skid for owner Godolphin, the racing stable of Dubai ruler Sheikh Mohammed bin Rashid Al Maktoum.

It was quite a weekend for the sheikh. His filly, Good Cheer, won the Kentucky Oaks on Friday and earlier Saturday, Ruling Court won the 2,000 Guineas in Britain.

Sovereignty covered 1¼ miles in 2:02.31 and paid $17.96 to win at 7-1 odds.

Journalism found trouble in the first turn and jockey Umberto Rispoli moved him to the outside. He and Sovereignty hooked up at the eighth pole before Sovereignty and jockey Junior Alvarado pulled away.

Baeza was third, Final Gambit was fourth and Owen Almighty finished fifth.

Rain made for a soggy day, with the Churchill Downs dirt strip listed as sloppy and horse racing fans protecting their fancy hats and clothing with clear plastic ponchos.

The Associated Press contributed to this report.

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