NHL and Diamond Sports Group Secure Agreement for Uninterrupted Broadcasting
The NHL and Diamond Sports Group have reached a significant agreement that ensures the continued broadcasting of Diamond’s regional sports networks, known as Bally’s, until the conclusion of the 2023-24 season. This deal, disclosed in court documents filed on Wednesday, has a direct impact on 11 NHL franchises, including the Anaheim Ducks, Carolina Hurricanes, Columbus Blue Jackets, Dallas Stars, Detroit Red Wings, Florida Panthers, Los Angeles Kings, Minnesota Wild, Nashville Predators, St. Louis Blues, and Tampa Bay Lightning. It also terminates these clubs’ existing agreements with Diamond, some of which were set to run until 2030, at the end of this season.
NHL deputy commissioner Bill Daly expressed his satisfaction with the resolution, stating that it ensures all teams can continue broadcasting their games to local fans for the remainder of the season. This has always been the NHL’s top priority. The agreement, similar to the one recently reached between the NBA and Diamond, will be presented for approval before a bankruptcy court in Houston on January 3.
Diamond declined to comment on the matter through a spokesperson. Since Diamond filed for bankruptcy last March, NHL fans have been concerned about the potential impact on televised games. However, with the court’s permission, Diamond and the NHL were able to negotiate this term sheet to determine the way forward.
Once this season concludes, the broadcast rights for all 11 affected clubs will revert back to the NHL. However, it remains uncertain what the TV plans for these clubs will look like in the upcoming seasons. The Wall Street Journal recently reported that Amazon.com, Inc. is currently in discussions with Diamond and its creditors regarding the acquisition of multiyear streaming rights for MLB, NBA, and NHL games currently aired on cable channels operated by regional sports networks (RSNs). Any potential deal is subject to approval by the bankruptcy court.
It’s important to note that this agreement does not prevent the impacted teams from entering into new agreements with Diamond once the bankruptcy process is complete, according to a source familiar with the negotiations.
In conclusion, this agreement between the NHL and Diamond Sports Group ensures uninterrupted broadcasting for Bally’s regional sports networks until the end of the 2023-24 season. It addresses concerns among NHL fans and allows teams to continue providing local fans with access to their games. The future TV plans for these clubs remain uncertain, but potential streaming rights acquisitions by Amazon.com could reshape the landscape of sports broadcasting.