The Diamond Sports Group has announced a restructuring agreement that'd see debt holders invest $450MM to keep the company afloat. As part of the deal, Amazon would receive streaming rights for the NBA, NHL and MLB teams for which Diamond currently holds those rights.
Evan Drellich and Mike Vorkunov of the Athletic report that Amazon would pay $115MM, with an additional $50MM investment possible. While that'd entitle them to streaming rights for every NBA and NHL team that contracts with Diamond, it's only applicable to five MLB teams. Diamond has streaming rights for the Royals, Tigers, Marlins, Brewers and Rays. Those clubs would still be broadcast on cable on Diamond's Bally Sports networks, but in-market streaming access would move to Prime Video. MLB has opposed selling additional streaming rights to Diamond, but Alden González of ESPN reports that Amazon's involvement is not conditional on further streaming acquisitions.
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