Judge: Diamond Sports must pay full value of contracts to Diamondbacks, Guardians, Twins, Rangers
A federal bankruptcy judge has ordered Diamond Sports to pay the full value of its media contracts to the Arizona Diamondbacks, Cleveland Guardians, Minnesota Twins and Texas Rangers A federal bankruptcy judge has ordered Diamond Sports to pay the full value of its media contracts to the Arizona Diamondbacks, Cleveland Guardians, Minnesota Twins and Texas Rangers. Judge Christopher Lopez made the ruling on Thursday in Houston. Diamond Sports, which owns 19 networks under the Bally Sports banner, has been in Chapter 11 bankruptcy proceedings in the Southern District of Texas since it filed in March. Diamond said in a financial filing last fall it had debt of $8.67 billion. In April, the judge ruled Diamond to pay half of what the teams were owed in rights fees. “I think the contract rate is the right answer here,” said Lopez in issuing his decision after two marathon days of testimony. Major League Baseball said in a statement Thursday night: “MLB appreciates the ruling from the Feder...