The deal extends to Diamond’s 16 RSNs in 31 states and will be available “as an additional subscription” to those who already have access to Amazon Prime, limited to applicable customers within each team’s designated geographic area, Diamond announced in a press release. Price and start date have not yet been determined. The deal is non-exclusive, meaning fans can also stream home games through the FanDuel Sports Network website.
It was the first of several positive developments Wednesday for Diamond, who will begin his confirmation hearing in bankruptcy court Thursday morning. Major League Baseball and the Atlanta Braves later withdrew their objection last Friday, apparently clearing the way for Diamond to emerge as a restructured business. In a brief filed before his hearing, Diamond also announced that he reached new linear and digital agreements with the Detroit Tigers and Tampa Bay Rays, along with a modified agreement with the Braves.
That leaves the Kansas City Royals (a joint team with partial ownership of its regional sports network and therefore not part of the bankruptcy proceedings) as the only unresolved MLB club.
Diamond announced as part of a restructuring support agreement in January that Amazon would become a minority investor, providing the company with $115 million, while also entering into a commercial agreement that would provide access to Diamond’s services through from Prime Video. About seven months later, while simultaneously negotiating an 11-year media rights deal with the NBA and WNBA, Amazon pulled out as an investor.
Diamond, however, was still hoping to negotiate a business deal with Amazon, and was finally able to finalize one the day before his confirmation hearing. In a statement, Diamond CEO David Preschlack wrote that the deal with Amazon “creates a tremendous opportunity to expand our reach and better connect with viewers.”
“Our partnerships with Prime Video and FanDuel combine with our agreements with teams, leagues and distribution partners to support a transformative reorganization of our business and a leading linear and digital offering that will continue to generate long-term value and enhanced experiences for our partners and fans,” Preschlack added.
Diamond, which has been in Chapter 11 bankruptcy for 20 months, retains linear and digital broadcast rights for 13 NBA teams, including: Atlanta Hawks, Charlotte Hornets, Cleveland Cavaliers, Miami Heat, Orlando Magic, Detroit Pistons, Indiana Pacers, Milwaukee Bucks. , Minnesota Timberwolves, Oklahoma City Thunder, LA Clippers, San Antonio Spurs and Memphis Grizzlies. It also has the following eight NHL teams in its portfolio: Carolina Hurricanes, Columbus Blue Jackets, Los Angeles Kings, Nashville Predators, Detroit Red Wings, Minnesota Wild, St. Louis Blues and Tampa Bay Lightning.
Diamond announced earlier this week that it would offer single-game deals on direct-to-consumer NBA and NHL games starting December 5, with individual games starting at $6.99.
Many of the company’s MLB deals were uncertain as of Wednesday. Diamond testified in court in October that he would maintain only one existing MLB contract: that of the Braves, a team for which they did not own broadcast rights. Diamond had since announced a multi-year linear and broadcast deal with the St. Louis Cardinals and had agreed to terms with the Los Angeles Angels and Miami Marlins. The Tigers and Rays deals were grouped with the others in the company’s court filing Wednesday afternoon. It’s unclear if the Braves’ new deal includes direct-to-consumer rights.
MLB and the Braves formally filed an objection to Diamond’s reorganization plan last Friday, writing that they have “serious concerns that, if the plan is confirmed, there is a substantial likelihood that the debtors will once again find themselves in financial difficulty and /or bankruptcy”. court in the near future.”
Diamond wrote in his court filing Wednesday that with the aforementioned agreements secured, “MLB’s objection has been resolved.”
