It’s been a while since we’ve heard about the financial woes of the Regional Sports Network world, though you may vaguely recall the whole Diamond Sports bankruptcy, the Bally Sports Network conversions to FanDuel Sports Network, the teams who had their rights taken back by MLB, etc., etc. It was a mess. It never really improved, even as Diamond became Main Street Sports Group, and re-upped some one-off, one-year deals with the MLB teams whose broadcast rights it holds.
Sports Business Journal reports that, despite those re-ups at the start of the offseason, Main Street missed its December payment to the St. Louis Cardinals, and it is trying desperately to sell itself to DAZN. If that doesn’t happen by the end of January, SBJ reports, the plan is for Main Street to wind down and dissolve the business entirely at the end of the current NBA and NHL seasons.
This is actually major news, given the potential financial disruptions (again) to the Cardinals, Braves, Brewers, Reds, Royals, Tigers, Angels, Marlins, and Rays, whose rights are currently held by Main Street. Those teams – as of the missed payment to the Cardinals – have good reason to worry that they might suddenly lose a chunk of cash ($10s of millions) for the 2026 season. I wonder if any November spending plans for the offseason were suddenly upended this month for any of those clubs.
Meanwhile, MLB may see this as a great opportunity. If Main Street ultimately folds, then the nine affected teams would either have to produce their own games and try to work out a patchwork of local deals (plus direct-to-consumer), or they could let MLB produce the games, which would then reportedly be carried by ESPN under that new deal they signed earlier this offseason. You will recall that MLB wants as many local team rights all bundled up together as possible, as soon as possible, so that they can sell national (no blackout) rights for all teams in one package, like the NBA and NFL do. The league currently already has the rights for the Padres, Diamondbacks, Twins, Rockies, and Guardians. (The Rangers also saw their deal with Bally go bust, but they opted instead to keep going their own way – which is what I guess the Braves, at least, would probably do in this case, too.)
Back to the offseason/financial implications here, it’s important to remember that so much of the TV deal-related hit to revenue has been baked in for years. Everyone knew this disruption and downward trend was coming, and we saw spending for the former Bally teams impacted multiple years ago. I’m not sure how much more a Main Street failure would hit them, but I’ve gotta believe it’s not zero. It kinda makes you wonder about the Reds going cheap on their outfield all of sudden, no? The Angels continuing to be miserly? The Tigers staying out of the Alex Bregman race? The Royals trying to improve via trades? The Brewers doing nothing after Brandon Woodruff accepted his Qualifying Offer?
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