Diamond Sports Group, the company that owns the Bally Sports regional networks that broadcast Twins, Wild and Timberwolves games, has officially filed for Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the Southern District of Texas, the company announced Tuesday evening.
The company, which skipped an interest payment of about $140 million due on Feb. 15, said it is using bankruptcy to eliminate about $8 million in debt, and DSG expects its Bally Sports regional networks will “continue to operate in the ordinary course during the Chapter 11 process.”
That would mean the Twins’ entire 2023 will be broadcast by Bally Sports North, which already has been airing spring training games, something Twins President Dave St. Peter has consistently said he expected. The Twins’ deal with BSN ends after this season.
Bally broadcasts games by 13 other major league teams — the Diamondbacks, Braves, Reds, Guardians, Tigers, Royals, Angels, Marlins, Brewers, Cardinals, Padres, Rays and Rangers, all of which have deals that extend beyond 2023. That has spurred MLB to look into streaming games for free until the DSG’s financial issues are settled. For now, that doesn’t appear necessary.
But MLB could use the bankruptcy to restructure or eliminate its deals with DSG and begin building a streaming network similar to the one Major League Soccer has started this season with Apple TV.
“DSG will continue broadcasting games and connecting fans across the country with the sports and teams they love,” Diamond Sports Group CEO David Preschlack said in a statement. “With the support of our creditors, we expect to execute a prompt and efficient reorganization and to emerge from the restructuring process as a stronger company.”