SEATTLE, Wash. – According to MLB, teams have received 94% of the money owed by Diamond Sports.
Under the Bally Sports moniker, the corporation runs 19 networks and has been in Chapter 11 bankruptcy proceedings in Texas since March. After a rights payment was overdue, MLB took over the rights to San Diego Padres telecasts on May 31.
“I believe we’ve collected 94% of the rights fees that have become due so far.” And that’s incredibly essential,” MLB Commissioner Rob Manfred said Tuesday to the Baseball Writers’ Association of America.
According to MLB, teams have received 94% of the money owed by Diamond Sports.
“We have backed clubs to ensure that there isn’t any unforeseen change in their revenue, and all of that is designed to put clubs in a position to avoid disruption when it comes to the most important aspect of their business, which is putting a good team on the pitch.”
According to Manfred, “MLB’s sales of Padres broadcasts in San Diego are “far into the five figures.”
“Well before the Diamond bankruptcy, we were kind of on the topic of that part of the media landscape changing,” he explained. “From the start, our goal has been to transition from the current situation into a new model that did two things: one, increased the availability of our games to fans, and two, minimised any financial disruption for clubs.”
SOURCE – AP
