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Message
NBA quietly renews deal with Diamond (Bally's)
Posted on 2/17/23 at 10:55 am
Posted on 2/17/23 at 10:55 am
TL;DR don't expect significant changes to local Bally's TV deals until the national deal is renewed after the 24-25 season.
It looks like all of the individual team deals go through a deal the league has with Diamond Sports Group and they renewed it for another year. There are 13 conditions on the deal, such as paying the teams and not going into bankruptcy. If any aren't met the league can pull all of their rights back, but they don't think the NBA is interested in doing that yet.
LINK
So unless Bally's gets to a point where it can't afford to pay the teams, expect more of the same for 2 more seasons after this.
It looks like all of the individual team deals go through a deal the league has with Diamond Sports Group and they renewed it for another year. There are 13 conditions on the deal, such as paying the teams and not going into bankruptcy. If any aren't met the league can pull all of their rights back, but they don't think the NBA is interested in doing that yet.
quote:
Diamond will breach one of the deal’s conditions, though, if it files for bankruptcy as expected in mid-March. At that point the league will be faced with a decision.
Should it take the digital rights back, which would undermine Diamond’s ability to keep its linear business healthy? Or should it leave its digital rights with Diamond to help with its restructuring, at least until the end of the deal?
Notably, the NBA’s streaming deal with Diamond ends after the 2024-25 season, the same time its linear TV deals end with ESPN and Turner.
The NBA could try to pair those local digital rights with its national digital rights during those negotiations. A bevy of media and tech companies expect to negotiate for an NBA package, including incumbents ESPN and Warner Bros. Discovery. Fox and NBC are interested in NBA rights, sources said, as are Amazon and Apple.
LINK
So unless Bally's gets to a point where it can't afford to pay the teams, expect more of the same for 2 more seasons after this.
4
Posted on 2/17/23 at 11:13 am to Honest Man
quote:
Bitch
From this point forward, I'd luv to have Mikal Bridges instead of BI. Can you "honestly" disagree with that position?
Posted on 2/17/23 at 11:15 am to TigerinATL
They are already missing interest payments to their creditors. They are losing money on many of the team deals they have. I'd be surprised if they still have the rights to produce/distribute games by next season.
quote:https://www.legalsportsreport.com/99772/analysis-how-would-ballybet-be-affected-by-diamond-bankruptcy/
How Bally’s-branded channels could lose contracts
Those with knowledge of the process told Bloomberg the most likely outcome is Diamond’s largest creditors becoming owners. They would restructure the company with the intent to sell later this year.
While restructuring, Diamond could end unprofitable contracts with teams, meaning the end of Diamond’s streaming rights to the teams. Insiders broke down the hefty cost of some of those contracts to the New York Post:
Diamond, for example, is currently locked into a money-losing contract to pay the San Diego Padres $60 million a year through 2032, two sources said. Most of Diamond’s MLB contracts are unprofitable, while maybe half its NBA deals are losing money and a handful of its NHL agreements are in the red, according to a source.
Posted on 2/17/23 at 6:51 pm to Mickey Goldmill
quote:
money-losing contract to pay the San Diego Padres $60 million a year through 2032
Whoever inked that deal doesn't have two brain cells to rub together.
Posted on 2/17/23 at 7:06 pm to Mickey Goldmill
quote:
while maybe half its NBA deals are losing money
One has to wonder if Pels re-upped with them because Ballys just threw a ridiculous number out to them just to have them re-sign.
I guess we will all know soon enough, if this goes into bankruptcy those prices may have to become public.
Posted on 2/18/23 at 1:14 am to Dinky Mulberry
quote:
From this point forward, I'd luv to have Mikal Bridges instead of BI. Can you "honestly" disagree with that position?
He’s a big time BI hater because cold shoulders are real when you 2nd cousins roommates cousin works in the front office spills the beans…tigerdroppings is a place to drop it.
Consider it a compliment, sons.
Posted on 2/20/23 at 6:11 pm to Soggymoss
Reason 98 to hate Bally’s. Just found out games are only archived for 72-hours, then poof! At least when you pay huge subscription to NFL or NBA you get access to all your team’s games for the season. What a gyp….
Posted on 2/21/23 at 6:36 am to Dinky Mulberry
quote:
rom this point forward, I'd luv to have Mikal Bridges instead of BI. Can you "honestly" disagree with that positio
Did you post in the wrong thread?
Posted on 2/21/23 at 8:13 am to armsdealer
quote:
Whoever inked that deal doesn't have two brain cells to rub together.
Padres mania is in full force out here; Bally's biggest problem is that in the 3 or so years since they struck the deal with the Padres, they've only managed to agree with a deal with DirecTV to carry games out here. So they're hemorrhaging money on it profit wise, no one is watching on any other provider, and they can't even pay the team what they owe.
Posted on 2/22/23 at 1:24 pm to TigerinATL
This is a quote from a podcast by John Ourand, who covers a lot of the sports TV rights for Sports Business Journal.
LINK
quote:
From a media perspective is there anyone sitting prettier than Adam Silver? These were the companies that had top executives in Salt Lake City last weekend. Google, Apple, Amazon, Bob Iger was there from Disney, I spotted an NBC executive as well. When those rights come up, the national rights, there is already a frothing, a bidding war is developing for those rights. The NBA is sitting very, very pretty.
Then, there's the RSN conundrum. Diamond Sports is still a couple of weeks away from what everybody believes is filing for bankruptcy, and Silver said during his press conference, short term the NBA is sitting fine. The NBA's regular season ends on April 9th. Its teams have already been paid, it's games have pretty much already been played, other than a couple of weeks, and once they get into the playoffs, every single playoff game is on a national television outlet. So the RSN issue is something, if you want to kick the can down the road, the NBA doesn't really have to deal with until October or so.
LINK
Posted on 2/23/23 at 4:21 pm to TigerinATL
This is a deal to prop up Ballys. Ballys is trying to sell itself before being forced into bankruptcy. Easier to sell itself if it has a premier contract with a major sports organization such as the NBA
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