In a significant move for sports fans, Amazon has acquired a minority stake in Diamond Sports Group's Bally Sports regional networks. The announcement, made on Wednesday, revealed that Amazon's investment is part of Diamond's bankruptcy restructuring plan.

One of the most noteworthy implications of this deal is that games broadcasted on Bally Sports channels will now be accessible to local fans through Amazon Prime. This development comes as a relief, particularly for subscribers of TV services that do not currently have an agreement with Bally.

With almost 40 professional teams from MLB, NBA, and NHL holding local television contracts with Bally Sports regional affiliates, the lack of availability on certain television providers has been a concern. Notably, YouTubeTV users have faced restrictions when attempting to watch their local teams' games on Bally Sports channels, unless they subscribed to Bally Sports' streaming service.

The involvement of Amazon as a minority owner brings a newfound accessibility to these games, granting Amazon Prime subscribers the opportunity to watch their favorite teams in action.

David Preschlack, CEO of Diamond Sports Group, expressed his excitement about the comprehensive restructuring agreement, stating, "We are thrilled to have reached a comprehensive restructuring agreement that provides a detailed framework for a reorganization plan and substantial new financing that will enable Diamond to operate and thrive beyond 2024. We are grateful for the support from Amazon and a group of our largest creditors who clearly believe in the value-creating potential of this business."

Diamond Sports Group had previously acquired the Fox Sports regional networks, completing the purchase in August 2019, as required by the United States Department of Justice. At the time, traditional cable and satellite television services were facing a decline in customers, and negotiations between Diamond and streaming platforms such as YouTubeTV were challenging due to steep asking prices for carrying the regional sports networks.

The local television deals held by Bally networks represent a significant source of income for MLB, NBA, and NHL teams. Bally has secured the local rights for a total of 37 teams, including 11 MLB teams, 15 NBA teams, and 11 NHL teams.

However, the changing television landscape presented financial difficulties for Diamond Sports Group, leading to the company's filing for bankruptcy in March 2023. As a result, MLB took control of the San Diego Padres' broadcasts after Diamond failed to make payments, and other teams had to pursue legal action to receive the money owed to them.

In November, a deal was reached with the NBA to ensure that Bally networks would continue to televise games for its 15 teams until the end of the season. This agreement came after the Phoenix Suns and Phoenix Mercury announced their departure from Bally Sports, opting to broadcast their games on free over-the-air television.

The involvement of Amazon, alongside other creditors, brings hope for stability and a revitalized future for Diamond Sports Group and the various professional sports teams that depend on their regional networks. With the games now set to stream on Amazon Prime, fans across the country can look forward to a more accessible and inclusive sports viewing experience.