HOUSTON – (Staff and Wire Service Report) Regional sports network giant Diamond Sports Group is ready to exit bankruptcy after getting judicial approval. Judge Christopher Lopez, representing the Southern District of Texas, approved the company’s Chapter 11 reorganization.

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DSG stated in a press release that its plan “will reduce its debt from almost $9 billion to $200 million. Upon completion of its restructuring, Diamond will be well capitalized with more than $100 million in cash and cash equivalents on its balance sheet.”

The ruling came a day after MLB and the Atlanta Braves dropped their objections to DSG’s reorganization. The Braves came to a revised deal with DSG to keep the company as its primary broadcaster.

Other baseball teams still partnering with DSG are the Detroit Tigers, Los Angeles Angels, Miami Marlins, St. Louis Cardinals and Tampa Bay Rays.

However, MLB stated Thursday that it will oversee broadcasts of Cincinnati Reds games. MLB previously took over the telecasts for the Arizona Diamondbacks, Cleveland Guardians, Colorado Rockies, Milwaukee Brewers, Minnesota Twins and San Diego Padres.

DS also retains the rights to 13 NBA teams (the Atlanta Hawks, Charlotte Hornets, Cleveland Cavaliers, Detroit Pistons, Indiana Pacers, Los Angeles Clippers, Memphis Grizzlies, Miami Heat, Milwaukee Bucks, Minnesota Timberwolves, Oklahoma City Thunder, Orlando Magic and San Antonio Spurs) and eight NHL teams (the Carolina Hurricanes, Columbus Blue Jackets, Detroit Red Wings, Los Angeles Kings, Minnesota Wild, Nashville Predators, St. Louis Blues and Tampa Bay Lightning).

DSG chief executive officer David Preschlack said in a statement, “Today is a landmark day for Diamond, as we embark on a new path for our business. Diamond is now unencumbered by legacy debt, financially stable and enthusiastically supported by new ownership. Over the last 18 months, we have worked tirelessly to strengthen our business, including by reaching revised multi-year rights agreements with team and league partners, go-forward carriage agreements with major distribution partners, a broad naming rights partnership with FanDuel and a commercial agreement with Amazon.

“These critical achievements and a realigned business are enabling us to emerge as a sustainable, go-forward entity that drives value for our partners and fans.”

–Field Level Media

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NEW YORK – (Staff Report from Official News Release) – The National Basketball Association expanded partnerships making DraftKings and FanDuel Group its “co-official” sports betting partners with both companies having expansive rights to integrate NBA highlights, statistics, and content throughout their sports betting and daily fantasy sports platforms.

As part of the expanded relationships, DraftKings and FanDuel will continue to utilize official NBA betting data and league marks and logos across their sports betting and free-to-play game offerings. Beginning immediately to celebrate the NBA’s 75th Anniversary, DraftKings and FanDuel will create and feature NBA content that includes game highlights.

FanDuel and DraftKings will also become sports betting partners of the NBA in Canada, where they both plan to launch later this season.

“DraftKings and FanDuel are market leaders who have been incredible partners in engaging with the millions of NBA fans who enjoy fantasy and betting,” said Scott Kaufman-Ross, Senior Vice President, Head of Gaming & New Business Ventures, NBA. “DraftKings and FanDuel sit at the center of the continued convergence between media and sports betting, and, together, we are excited to bring these unique content experiences to our fans.”

Expanding on its existing partnership dating back to 2014, FanDuel will now become the exclusive presenting partner of the weekly NBABet Show each Monday night on NBA TV. As part of the new deal, fans will be able to choose to see FanDuel odds displayed on the Games page of NBA.com.

“For the past seven years the NBA and FanDuel have architected the platinum standard of partnership between a professional sports league and mobile sports gaming operator,” said Amy Howe, President & CEO of FanDuel Group. “Combining the star power of the NBA with our industry leading platform has resulted in innovations that have significantly enhanced the fan experience. We are proud of the deep working relationship we have built with the NBA, and that this agreement will celebrate a decade of official partnership.”

DraftKings, whose business relationship with the NBA dates back to 2019, will now become the exclusive presenting partner of NBABet Stream, the NBA’s betting-focused telecast on NBA League Pass and the NBA TV App. NBABet Stream presented by DraftKings will air its first game this Friday, November 5. In addition, DraftKings will activate on-site at tentpole NBA events, including the NBA All-Star Game, Rising Stars, NBA All-Star Saturday Night and NBA Draft presented by State Farm.

“The NBA season only just tipped off, and yet we have already seen the immediate impact of the sport among our customer base with significant reengagement along with healthy new betting activity across all of our states,” said Ezra Kucharz, chief business officer at DraftKings. “All of this signals the rising demand for NBA basketball in its 75th anniversary season among sports bettors and daily fantasy players, and we are pleased to continuously collaborate with the league on new offerings like our NBABet Stream integration.”

The NBA will collaborate with both DraftKings and FanDuel in support of its ongoing commitment to responsible gambling, which includes public education via social media messaging and public service announcements, public advocacy, and the enforcement of strict standards and limitations on betting-related advertising across NBA and partner platforms. Both DraftKings and FanDuel will also work with the league on best-in-class practices to protect the integrity of NBA games.

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