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The Cincinnati Reds, Phoenix Suns and Phoenix Mercury are all considering possible moves for television rights holders. Could the Texas Rangers be next?
Two developments in other markets in the ongoing saga of Bally Sports and Diamond Sports Group could give the Texas Rangers a way to capitalize on the current impasse.
The first is in Cincinnati, where The Sports Business Journal reports that ending the Reds' current six-game hitting streak could mean the end of Bally Sports Ohio television.
The Reds, like the Rangers, have not received any payments from parent company Bali since DSG filed for Chapter 11 bankruptcy earlier this month.
You have 15 days to recover your DSG payment. If not, the Reds can buy the TV rights.
The Redskins will face the Chicago White Sox on May 6 in a game for Apple TV+. After that, it is not clear what will happen if the payment is not made.
Although Rangers are yet to receive payment from DSG, the games continue to be broadcast on Bally Sports South West. Cincinnati is in a more profitable position because of its financial stake in Bally Sports Ohio.
According to SBJ, "the existence of the joint company (BSO) excluded it from the bankruptcy procedure".
In another Arizona development, SBJ reported that the Phoenix Suns (NBA) and Phoenix Mercury (WNBA) will reach an agreement with Gray Television and the streaming service Keysway to broadcast their games because they do not intend to renew their contracts with Bally. Arizona Sports.
Details of the deal are not yet known, but the publication says the two groups will partner with three television stations owned by Gray and Keysway, reaching more than 2.8 million homes in the market. The post suggests that the current setup can only reach a third of the audience.
SBJ stated that BSA reserves the right to match any offer made by Sun if it does not match BSA/DSG's final offer.
DSG failed to pay Rangers on April 15. The Rangers joined MLB, the Minnesota Twins and the Cleveland Guardians in collecting royalty payments owed to DSG through bankruptcy proceedings earlier this month.
DSG's failure to pay a team like the Rangers could trigger that team into waiver proceedings with MLB. Before the bankruptcy, Rangers sent a letter to DSG saying they would cancel the TV rights contract if the company went bankrupt.
Although Rangers disagreed with DSG, the contract was declared void. The Rangers have reportedly been looking for a new broadcast partner for the past month.
Since DSG missed payment to Rangers, DSG has 30 days to complete payment. A bankruptcy judge will rule on MLB's full hearing on May 31.
The Rangers were purchased by DSG in 2010 and became Bally Sports Southwest in 2019. The Rangers are believed to be owed $111 million through 2023.
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