The NHL and Diamond Sports Group, owner of the largest pool of local broadcast sports rights, have reached an agreement that will keep 11 teams on Bally Sports channels until the end of the current season.
The agreement, which was filed in court on Wednesday, must be approved. Diamond Sports has been in bankruptcy proceedings in the Southern District of Texas since filing for protection in March. In a document filed last year, the intermediary claimed to have a debt of US8.67 billion.
Although local broadcast rights revenues will be reduced, the rights associated with these 11 teams will return to the league at the end of the season.
This agreement nevertheless ensures stability for fans, networks and teams.
Last summer, Major League Baseball regained control of the rights of the San Diego Padres and the Arizona Diamondbacks after the parties failed to reach an agreement.
The NHL teams currently playing on the Bally Sports networks are the Anaheim Ducks, Carolina Hurricanes, Columbus Blue Jackets, Dallas Stars, Detroit Red Wings, Florida Panthers, the Los Angeles Kings, Minnesota Wild, Nashville Predators, St. Louis Blues and Tampa Bay Lightning.
Diamond also reached a similar agreement last month with the NBA for the 15 teams under contract with the company.