There will be no lifeline for Diamond Sports Group after the Major League Baseball reportedly vetoed Amazon’s proposed US$150 million rescue package.
Amazon was in talks to rescue Bally Sports parents company Diamond Sports Group (DSG), in a cash for equity deal which would have seen the regional sports networks (RSN) hosting 40 major league sports teams on Prime Video.
The New York Post reported that MLB commissioner Rob Manfred was against the deal as it would have been a multi-year arrangement.
DSG had been in Chapter 11 since March 2023, and owes $8 billion.
The company has short term deals with the NBA and the NHL for the 2023/24 season to showcase games at a reduced fee.
The MLB has put the kibosh on the deal, as they believe the indebted company is stalling for time ahead of their January 10 new bankruptcy court hearing.
