Diamond Sports Group, which does business as FanDuel Sports Network, received court approval of its reorganization plan and expects to emerge from bankruptcy in the coming weeks.
Part of the plan means that Braves fans will now have in-market streaming options. Braves games will be streamed directly from FanDuel Sports Network across several platforms.
FanDuel Sports Network, formally Bally Sports, broadcasts the Braves and Hawks in Atlanta.
Braves president and CEO Derek Schiller issued a statement and indicated that more viewing options would be announced in the near future.
“The Braves are excited to announce an expanded partnership with Diamond Sports Group that will give our fans more options to watch Braves games and other Braves-related programming,” Schiller said. “Beyond the existing FanDuel Sports Network linear viewing options, fans will now be able to stream games directly from FanDuel Sports Network across a variety of platforms. In the near future, we will also be releasing more ways for fans to find Braves games and content. With one of the largest territories in professional sports, this agreement is an important step forward in creating more access to our games for our fans who live across Braves country.”
Under the terms of the reorganization plan, Diamond will complete a comprehensive balance sheet restructuring that will reduce its debt from almost $9 billion to $200 million.
Upon emergence, Diamond will be home to 13 NBA teams, eight NHL teams and six MLB teams, including:
- NBA: Hawks, Hornets, Cavaliers, Pistons, Pacers, Clippers, Grizzlies, Heat, Bucks, Timberwolves, Thunder, Magic and Spurs.
- NHL: Hurricanes, Blue Jackets, Red Wings, Kings, Wild, Predators, Blues and Lightning.
- MLB: Braves, Angels, Marlins, Cardinals, Tigers and Bay Rays.
“Today is a landmark day for Diamond, as we embark on a new path for our business,” Diamond CEO David Preschlack said in a statement. “Diamond is now unencumbered by legacy debt, financially stable and enthusiastically supported by new ownership. Over the last eighteen months, we have worked tirelessly to strengthen our business, including by reaching revised multi-year rights agreements with team and league partners, go-forward carriage agreements with major distribution partners, a broad naming rights partnership with FanDuel and a commercial agreement with Amazon. These critical achievements and a realigned business are enabling us to emerge as a sustainable, go-forward entity that drives value for our partners and fans.”
The approval of Diamond’s reorganization plan comes one day after it announced a multiyear agreement with Prime Video for direct-to-consumer access to FanDuel Sports Network’s 16 regional networks, including Atlanta. FanDuel Sports Network will be available as an add-on subscription for customers living in each team’s designated geographic area. Fans will be able to watch live games, as well as pregame and postgame programming, through Prime Video. The Hawks were a part of the agreement. The Braves were not until Thursday.
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