Regional Networks Deal for Guardians, Twins, and Rangers Approved

In a major development for the Cleveland Guardians, Minnesota Twins, and Texas Rangers, Diamond Sports Group has reached amended agreements with all three teams for the upcoming season. These agreements were approved by a federal bankruptcy judge on Friday. The company had been in Chapter 11 bankruptcy proceedings in the Southern District of Texas since it filed for protection last March.

Diamond Sports, which owns 18 networks under the Bally Sports banner, has the rights to 37 professional teams – 11 baseball, 15 NBA, and 11 NHL. The company’s late 2021 financial filing revealed that they had debt of $8.67 billion. However, they reached a restructuring agreement with creditors last month that is still going through hearings.

The Twins’ agreement with Diamond expired at the end of last season, while the deals with the Guardians and defending World Series champions Rangers were restructured for less money. As a result of these agreements, Diamond will be producing games for all three teams until the end of the 2024 season.

After these deals were announced, Major League Baseball (MLB) confirmed that only two teams – Arizona Diamondbacks and San Diego Padres – will have their games produced by MLB directly in 2024. This is due to Diamond’s financial struggles and its ongoing bankruptcy proceedings.

By Editor

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