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It is the legal song that never ends with the Braves’ TV partner and the hijinks that go with it Diamond Sports Group, who controls the Braves TV rights holder known as Fanduel Sports Network, is still in the throes of bankruptcy. At least, that’s the way they tell it publicly. In court and to Rob Manfred, they have entered bankruptcy to avoid TV rights payments that have fallen in value, due to various factors. So in the case of Diamond Sports, bankruptcy is more like a hammock.
Diamond Sports was due in court next week to present their plan to exit bankruptcy to the court. MLB was given until yesterday to object to its plan. Then the Cardinals and Diamond Sports agreed to a rights deal yesterday. Doing this deal likely changed Diamond’s financial status significantly. The deadline for MLB to object to Diamond’s plan was extended to 3pm today. The Braves and MLB used their right to object today.
Major League Baseball and the Atlanta Braves have formally objected to Diamond Sports Group's get-out-of-bankruptcy plan. The confirmation hearing is on Nov. 14.— Evan Drellich (@EvanDrellich) November 8, 2024
Diamond waited until MLB’s deadline to announce the Cardinals’ deal, and MLB felt that they didn’t have enough time to review. So the bankruptcy hearing will likely be postponed, which is exactly what Diamond wants to happen. They can remain in bankruptcy protection, free to propose to edit their agreements with creditors.
"Based on the current inadequate record, the Braves and MLB have grave concerns that, if the Plan is confirmed, there is a substantial likelihood that the Debtors will find themselves once again in financial distress and/or bankruptcy court in the near future." pic.twitter.com/Lu2CTNLoaH— Evan Drellich (@EvanDrellich) November 8, 2024
What does this mean to the Braves and to their television access to fans? Nothing really. You’ll still see the Braves next season with another gambling entity on the broadcast logo. The Braves won’t likely be able to amend its deal anytime soon. However, the Braves personally getting directly involved into Diamond’s bankruptcy process is noteworthy and something to keep an eye on.
<img alt="Denver Nuggets v Minnesota Timberwolves" src="https://cdn.vox-cdn.com/thumbor/qWCCoRJVr_TWfyFTFBOsowqGhE4=/0x0:5678x3785/1310x873/cdn.vox-cdn.com/uploads/chorus_image/image/73710131/2182403960.0.jpg">
Photo by David Berding/Getty Images
It is the legal song that never ends with the Braves’ TV partner and the hijinks that go with it Diamond Sports Group, who controls the Braves TV rights holder known as Fanduel Sports Network, is still in the throes of bankruptcy. At least, that’s the way they tell it publicly. In court and to Rob Manfred, they have entered bankruptcy to avoid TV rights payments that have fallen in value, due to various factors. So in the case of Diamond Sports, bankruptcy is more like a hammock.
Diamond Sports was due in court next week to present their plan to exit bankruptcy to the court. MLB was given until yesterday to object to its plan. Then the Cardinals and Diamond Sports agreed to a rights deal yesterday. Doing this deal likely changed Diamond’s financial status significantly. The deadline for MLB to object to Diamond’s plan was extended to 3pm today. The Braves and MLB used their right to object today.
Major League Baseball and the Atlanta Braves have formally objected to Diamond Sports Group's get-out-of-bankruptcy plan. The confirmation hearing is on Nov. 14.— Evan Drellich (@EvanDrellich) November 8, 2024
Diamond waited until MLB’s deadline to announce the Cardinals’ deal, and MLB felt that they didn’t have enough time to review. So the bankruptcy hearing will likely be postponed, which is exactly what Diamond wants to happen. They can remain in bankruptcy protection, free to propose to edit their agreements with creditors.
"Based on the current inadequate record, the Braves and MLB have grave concerns that, if the Plan is confirmed, there is a substantial likelihood that the Debtors will find themselves once again in financial distress and/or bankruptcy court in the near future." pic.twitter.com/Lu2CTNLoaH— Evan Drellich (@EvanDrellich) November 8, 2024
What does this mean to the Braves and to their television access to fans? Nothing really. You’ll still see the Braves next season with another gambling entity on the broadcast logo. The Braves won’t likely be able to amend its deal anytime soon. However, the Braves personally getting directly involved into Diamond’s bankruptcy process is noteworthy and something to keep an eye on.
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