Almost a month to the day after a Houston court agreed to postpone a crucial confirmation hearing in the Diamond Sports Group bankruptcy case, the owner and operator of the nation’s largest group of regional sports networks has reached deals to continue broadcasting games of 20 NBA and NHL teams in their local markets.

In a series of filings with the U.S. Bankruptcy Court for the Southern District of Texas on Friday, Diamond announced that it had agreed to honor existing TV contracts with most of its NBA and NHL partners.

In basketball, DSG will work with the Atlanta Hawks, Charlotte Hornets, Cleveland Cavaliers, Detroit Pistons, Los Angeles Clippers, Memphis Grizzlies, Miami Heat, Milwaukee Bucks, Minnesota Timberwolves, Oklahoma City Thunder and San Antonio Spurs “at least through the end of the 2024-2025 NBA season.”

The agreements require approval from U.S. Bankruptcy Judge Christopher Lopez, who has repeatedly urged the parties to reach agreements themselves rather than wait for him to issue orders favoring one side or the other. Lopez’s recommendations are consistent with the federal bankruptcy process, which aims to encourage settlements and mediations because it is believed that the interested parties are best placed to resolve their dispute.

As part of his plan to move forward with the NBA, Diamond will file motions to disavow the contracts of the Dallas Mavericks and New Orleans Pelicans. The latter split was hinted at earlier this month when the Pelicans announced they had signed a multi-year deal with Gray Television affiliate WVUE-TV (Fox 8/Bounce TV) to broadcast 70 games per year in their home market. As Mark Cuban himself has said more than once, Dallas has long considered a split from Bally Sports Southwest.

For pay-TV subscribers, the Mavs’ RSN is arguably one of the more affordable local sports channels, with an average monthly subscription fee of around $3.35. For comparison, Bally Sports Detroit costs around $6.88 per subscriber per month, while Diamond’s Ohio-based RSN is the most expensive offering at $7.42.

The separation from the Mavs will significantly reduce the burden on Bally Sports Southwest, as the NHL’s Dallas Stars officially left the RSN on July 8. Baseball’s Texas Rangers own a 10% stake in the network.

Under the terms of the agreement, Diamond’s NBA partners have agreed to a 30 to 40 percent reduction in their existing rights fees.

In addition to the long-awaited deal with the NBA, Diamond has also signed another deal with the Anaheim Ducks, Carolina Hurricanes, Columbus Blue Jackets, Detroit Red Wings, Minnesota Wild, Nashville Predators and Tampa Bay Lightning. As with the NBA clubs, the NHL contract runs until the end of the coming season. However, the haircut agreed to by the seven NHL teams is significantly lower than the NBA’s tenth, as the reduction in rights fees is said to be closer to 20%.

Along with the seven NHL partners affiliated with RSNs wholly owned by Diamond, the company has agreed to continue broadcasting Blues and Kings games in the St. Louis and Los Angeles markets. The St. Louis Cardinals own 30% of Bally Sports Midwest, while the Los Angeles Angels own a 25% interest in Bally Sports West.

“We are grateful for the ongoing collaboration and long-term partnerships with the NBA and NHL,” Diamond Sports CEO David Preschlack said in a statement released shortly after the legal paperwork was filed. “Having completed negotiations with key partners who provide certainty around our content and distribution, Diamond is well positioned for the future. With the support of our creditors, we are focused on finalizing our plan of reorganization to support our ascension and presenting that plan to the court in due course.”

With the NBA and NHL contracts in place and the renewal of its broadcast deal with Comcast in the offing, Diamond has paved the way for what is expected to be a successful hearing. Judge Christopher Lopez last month agreed to postpone the crucial July 29 court date after Diamond’s lawyers asked for a little more leeway to nail down the aforementioned agreements. In fact, DSG managed to settle its broadcast dispute with the cable giant – Comcast closed the second quarter of 2024 with 13.2 million video customers – on the very day it was scheduled to present its case in court.

As part of today’s filings, Diamond has requested that emergency relief be granted on or before September 3, with a replacement date for the twice-postponed confirmation hearing to be set during the company’s next court date.