In a significant move for sports fans, Amazon is poised to become the new platform for streaming Bally Sports regional sports networks (RSNs). This development comes on the heels of a restructuring deal announced in January by Diamond Sports, the parent company of Bally Sports, allowing it to emerge from bankruptcy.
Details of the Deal
As part of this agreement, Amazon will take on a minority investment in Diamond Sports, solidifying its role as the new streaming home for Bally Sports content. David Preschlack, CEO of Diamond Sports, expressed enthusiasm about the venture, stating, “We are thrilled to have reached a comprehensive restructuring agreement that provides a detailed framework for a reorganization plan and substantial new financing that will enable Diamond to operate and thrive beyond 2024.” He highlighted the importance of this partnership for the company’s future, emphasizing its potential benefits for fans and stakeholders alike.
What This Means for Viewers
Once the agreement receives final approval, sports fans across the United States will have the opportunity to purchase live access to MLB, NBA, and NHL games directly through Amazon’s Prime Video channels. However, this service will only be available to viewers located within the markets of the respective teams.
Availability Timeline
Bally Sports has indicated that streaming through Amazon’s platform will commence as soon as the deal is officially approved. According to their statement, “Once this agreement is approved and goes into effect, Bally Sports+ will be available for purchase through Amazon’s Prime Video Channel platform for an incremental cost.” Current subscribers to traditional pay TV services can expect no changes in their viewing experience.
Implications for Bally Sports Branding
In conjunction with the streaming deal, Diamond Sports has negotiated the continuation of Bally Sports branding until the conclusion of the 2024 MLB season. Post-2024, the naming rights will terminate, marking the end of the Bally Sports brand association with these regional networks.
Support and Approval Process
This restructuring agreement has garnered substantial backing, with 85% of the company’s first lien debt holders, over half of the second lien debt holders, and more than two-thirds of unsecured bondholders expressing support. Nonetheless, the deal remains contingent on judicial approval, which will finalize the transition.
As the streaming landscape continues to evolve, the collaboration between Amazon and Bally Sports signals a transformative shift in how sports broadcasting is delivered to fans, making it easier than ever to access live games from the comfort of home.