MLB, Braves file objection to Diamond Sports' reorg plan - ESPN
Major League Baseball and the Atlanta Braves formally filed an objection to Diamond Sports Group's reorganization plan on Friday, citing, among other things, a lack of information to corroborate the viability of the company's projections. In a motion filed in Houston bankruptcy court, MLB and the Braves wrote they possess «grave concerns that, if the plan is confirmed, there is a substantial likelihood that the debtors will find themselves once again in financial distress and/or bankruptcy court in the near future.»
Later on Friday, the Cincinnati Reds officially split from Diamond, according to another court filing.
Diamond, approaching 20 months in Chapter 11 bankruptcy, is scheduled to begin its confirmation hearing next Thursday, during which a federal judge will determine whether to approve the operator's go-forward plan. Diamond held regional-sports-network contracts with 12 MLB teams during the 2024 season, but decided last month to keep only the Braves deal under its current iteration while hoping to negotiate new terms with some of the other clubs. Five teams have since departed.
On Oct. 8, the Milwaukee Brewers, Cleveland Guardians and Minnesota Twins joined MLB, which will broadcast at least six teams during the 2025 season, while the Texas Rangers announced it would explore local-media alternatives. The Reds broke away precisely one month later, though it is unclear whether they too will join MLB.
With six days remaining until Diamond's confirmation hearing, the Tampa Bay Rays, Detroit Tigers, Los Angeles Angels and Kansas City Royals remain in limbo. Like the Reds, the Royals and Angels are joint-venture teams that maintain partial ownership of their RSNs and thus are not formally part of the bankruptcy