Coyotes seek nearly $18M from Diamond Sports Group after deal ended


The Coyotes said that bankrupt sports broadcaster Diamond Sports Group “owes the team nearly” $18M following the termination of its telecast deal, according to Jonathan Randles of BLOOMBERG NEWS. Diamond has said that it “needed to end the deal because its regional sports channel, Bally Sports Arizona, was losing money and telecast agreements with the state’s major professional teams were only getting more expensive.” Diamond had said rights fees it owed to the Coyotes “total tens of millions of dollars annually and increase yearly.” Randles noted the team’s claim for repayment is an “unsecured debt” which, in general, is “repaid in Chapter 11 for pennies on the dollar.” Terminating the Coyotes deal “effectively ended Diamond’s broadcasting of Arizona’s major professional sports teams.” The Coyotes earlier this month announced a multiyear agreement with Scripps Sports to “broadcast its games locally on free TV channels” (BLOOMBERG NEWS, 10/27).


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