On Friday, a federal bankruptcy judge approved regional broadcast deals for the Cleveland Guardians, Minnesota Twins and Texas Rangers for the upcoming season. Diamond Sports Group reached amended agreements with the three teams last week. Despite being in Chapter 11 bankruptcy proceedings in the Southern District of Texas since it filed for protection last March, Diamond Sports said in a financial filing for the end of 2021 that it has $8.67 billion in debt. Last month, it reached a restructuring agreement with creditors that is still going through discussions.
Diamond owns 18 networks under the Balli Sports brand. Those networks have the rights to 37 professional teams — 11 baseball, 15 NBA and 11 NHL. The Twins’ contract with Diamond expired at the end of last season, while contracts with the Guardians and defending World Series champion Rangers were restructured for less money.
The three-team deals leave the Arizona Diamondbacks and San Diego Padres as the only teams whose games will be produced by Major League Baseball for 2024.