ST. LOUIS (KMOX) - The downfall of the regional sports network (RSN) has been closely monitoring situation by teams, leagues and its fans.
The St. Louis Cardinals are no exception to those murky waters, with the uncertain future with it's RSN Bally Sports Midwest. The team is in the middle of a $1.1 billion rights deal signed back in 2015 with when it was then known as Fox Sports Midwest. The deal also included the Cardinals receiving partial ownership in the network and it officially began during the 2018 season.
However, there's a good chance the Cardinals games will still remain on Bally Sports Midwest in 2024.
According to a report by the Sport's Business Journal, Diamond Sports Group, the group that controls a majority of Bally Sports Midwest, has reportedly reached an agreement with Major League Baseball last week that will guarantee Diamond pays all but three teams (Minnesota Twins, Cleveland Guardians and Texas Rangers) in full under its umbrella in 2024.
Crucially, the deal has not yet been signed.
It's unclear how the deal would work when it comes to reports by the Wall Street Journal that Amazon was reportedly interested investing in Diamond and reportedly making Prime Video the streaming home of teams airing on Diamond-owned RSNs. The deal would need to approved by the bankruptcy court even if Diamond and Amazon reach an agreement.
As of right now, a deal with Amazon with would not affect the Cardinals because Diamond do not have the streaming rights of the Cardinals.
Diamond only has the streaming rights of five teams: the Detroit Tigers, Kansas City Royals, Miami Marlins, Milwaukee Brewers, and Tampa Bay Rays. Those five signed over digital rights to Diamond in previous renewals, making their games available on Bally Sports+.
Obviously, the Cardinals can negotiate with Diamond to turn over their streaming rights, but with the murky situation surrounding the Bally Sports Regional Networks, such attempts, if made, haven't bore fruit yet. MLB and Diamond have also not seen eye to eye on the worth of MLB’s streaming rights.
The tentative agreement with Diamond and MLB ends 2023 on a slightly happy note for Diamond, who have had a terrible year. During this year, not only has the company gone bankrupt, but the situation led to two MLB teams (San Diego Padres and Arizona Diamondbacks) having their rights reverted back to MLB in the middle of the season last year. The Twins, Guardians and Rangers could eventually soon join them, but Diamond reportedly is committed to put in offers for those teams this week.
Diamond Sports has seemed to paint a clearer picture for what's ahead in 2024 with its agreement with MLB and the NBA. In October, Diamond reached a deal with the NBA over their broadcasting rights, with the rights reverting back to the league next season. Indications are the NHL is not far behind in reaching an agreement too.