The owner and operator of the 16 FanDuel Sports Network RSNs was given a new lease on life in a Houston judge place on Thursday, twenty-eight weeks after Diamond Sports Group filed for Chapter 11 bankruptcy protection. Judge Christopher Lopez of the U.S. Bankruptcy Court for the Southern District of Texas gave Diamond the formal consent to continue with its TV and streaming business at the closing of the 90-minute assurance hearing this day. In 2025 and beyond, Diamond can continue to deliver in-market activities to its 13 NBA, 8 NHL, and 6 MLB team partners with the criminal approval. ” I’m going to review the plan”, Judge Lopez said at about 10: 30 a. m. local period. After MLB and the Atlanta Braves withdrew their mutual issue to the plan late on Wednesday, Diamond’s leads appeared all but assured. The hapless issue before the judge was raised by the U. S. Trustee, from the Department of Justice, which did not approve of terminology related to acceptance. Judge Lopez properly refuted that reasoning, in a 20-minute speech in which he cited U. S. Supreme Court precedent. ” This event was no touchdown, not for anyone”, Judge Lopez said as he prepared to finger down his final decision. There was a lot of work involved in this.
Diamond said it plans to finish the restructuring process “in the approaching days” in a statement released shortly after the endorsement was granted. Under the terms of the plan, Diamond will have slashed its debt load from some$ 8.6 billion to$ 200 million. A powerful restructuring is a gross good, the judge remarked as the case was concluded. ” Now you’re going to save a lot of jobs”, he said to Diamond’s lawyers. A self-professed sports maniac, Judge Lopez also noted that the viewers will be well served by Diamond’s returning from the brink. ” There’s going to be someone who’s going to turn on their television and watch the Detroit Tigers”, he said. ” That’s a major part of the American knowledge”. Ahead of yesterday’s significant reading, Diamond locked in leases with the Atlanta Braves, Detroit Tigers, Los Angeles Angels, Miami Marlins, St. Louis Cardinals and Tampa Bay Rays. With that, Diamond has yet to decide which MLB team to play with in 2025, namely the Kansas City Royals. The team and the business are currently in conversation. Also sticking around are a baker’s dozen of NBA teams ( the Atlanta Hawks, Charlotte Hornets, Cleveland Cavaliers, Detroit Pistons, Indiana Pacers, Los Angeles Clippers, Memphis Grizzlies, Miami Heat, Milwaukee Bucks, Minnesota Timberwolves, Oklahoma City Thunder, Orlando Magic, San Antonio Spurs ) and eight NHL clubs ( Carolina Hurricanes, Columbus Blue Jackets, Detroit Red Wings, Los Angeles Kings, Minnesota Wild, Nashville Predators, St. Louis Blues, Tampa Bay Lightning ).
Due to the team’s departure from the wire pack, changes are likely to be made for the groups staying with Diamond. Under the present RSN type, the Braves are reaching around 35 % of properties in their TV country, which includes Alabama, Mississippi, Tennessee and the Carolinas, Braves CEO Derek Schiller said. That figure was more than 80 % a little over a decade ago. We want to include as many people as possible in the new model, Schiller said, so it’s no wonder that the design must change and progress.

With guidance from Eric Jackson.
( In the sixth paragraph, there are more details about Diamond Sports ‘ debt and restructuring plans, and there is more information about Braves CEO Derek Schiller. )