Sinclair Inc. said its bankrupt local sports unit Diamond Sports Group "will probably shut down" after the end of MLB's 2024 regular season "under a new proposal between the subsidiary and its creditors." Diamond is working to finalize what would be "essentially one-year deals" that would "permit it to broadcast its full slate" of NBA and NHL games for the current season as well as next year’s regular season games for MLB. After that, Diamond’s deals with all three leagues "would end." Diamond "may liquidate next year if it can’t find a way to keep the company operating beyond 2024," Andrew Parlen, a lawyer for the company, said yesterday (BLOOMBERG NEWS, 11/15).
Diamond still has deals in place with 11 MLB teams, but two in particular -- the Guardians and the Rangers -- "are in jeopardy and could soon be terminated." If Diamond drops those two teams, the clubs "would get their rights back and could be broadcast either by the league in 2024" or they could "strike a deal with another broadcaster to carry games" (THE ATHLETIC, 11/15).
Diamond Sports Group still has deals in place with 11 MLB teamsGetty Images
