A federal insolvency judge hasactually purchased Diamond Sports to pay the complete worth of its media agreements to the Arizona Diamondbacks, Cleveland Guardians, Minnesota Twins and Texas Rangers.
Judge Christopher Lopez made the judgment on Thursday in Houston. Diamond Sports, which owns 19 networks under the Bally Sports banner, hasactually been in Chapter 11 personalbankruptcy procedures in the Southern District of Texas giventhat it submitted in March. Diamond stated in a monetary filing last fall it had financialobligation of $8.67 billion.
In April, the judge ruled Diamond to pay half of what the groups were owed in rights charges.
“I think the agreement rate is the right response here,” stated Lopez in releasing his choice after 2 marathon days of testament.
Major League Baseball stated in a declaration Thursday night: “MLB values the judgment from the Federal Bankruptcy Court in Houston needing Diamond to pay the complete legal rate to Clubs. As constantly, we hope Diamond will continue to broadcast videogames and satisfy its legal responsibilities to Clubs. As with the Padres, MLB will stand prepared to make videogames readilyavailable to fans if Diamond stopsworking to fulfill its commitments.”
The choice is another chapter in what hasactually been a controversial week in the strained relationship inbetween MLB and D