A federal bankruptcy judge has ordered Diamond Sports to pay the full value of its media contracts to the Cleveland Guardians, Arizona Diamondbacks, Minnesota Twins and Texas Rangers.
Judge Christopher Lopez made the ruling on Thursday in Houston. Diamond Sports, which owns 19 networks under the Bally Sports banner, has been in Chapter 11 bankruptcy proceedings in the Southern District of Texas since it filed in March. Diamond said in a financial filing last fall it had debt of $8.67 billion.“I think the contract rate is the right answer here,” said Lopez in issuing his decision after two marathon days of testimony.
The decision is another chapter in what has been a contentious week in the strained relationship between MLB and Diamond Sports. Lopez stressed during his closing remarks that he wants both sides to continue to talk, despite how contentious the process has been. “I’m not really answering questions that real fans have, the folks who come home after work, the family dealing with increased costs that just wants to know they can come home and watch their team for the rest of the season, and where they’re going to watch their team play," Lopez said. “Those issues aren’t being decided and it’s not my decision to make. I’m careful not to overstep my boundaries.
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