Regardless of whether it successfully emerges from bankruptcy, Diamond Sports Group, which broadcasts the Bally-branded regional sports networks, is now promising it will operate through the 2024-25 NBA and NHL seasons.

Diamond Sports on Friday said it has reached agreements with both leagues and that as part of the basketball deal, the broadcaster is stepping away from contracts with two teams: the Dallas Mavericks and New Orleans Pelicans. The Pelicans were already known to have made broadcasting arrangements elsewhere for the 2024-25 season.

The deals need to be approved by a federal bankruptcy judge, with a hearing scheduled for Sept. 3. Contract terms in both leagues have also been modified, presumably with some rights-fee payment reductions, but no specific dollar figures were revealed in court filings Friday. The filing covering the NBA positioned the Mavs’ and Pelicans’ departures as a mutual agreement with Diamond.

The NBA, NHL, Mavericks and Pelicans did not immediately respond to requests for comment.

Diamond now would carry 13 NBA teams and nine NHL teams for the leagues’ 2024-25 seasons. If Diamond does emerge from bankruptcy, the NBA and NHL have both agreed to terms that would be in place beyond 2024-25 as well. Looming over everything, though, is still the question of Diamond’s long-term viability, and when it will be addressed.

For Diamond to emerge from bankruptcy, it needs to hold a confirmation hearing where a judge approves a plan. One was scheduled for late July but was pushed back when Diamond said it needed to make significant changes to its plan. A new date has yet to be announced. (Diamond on Friday proposed a new arrangement with some of its key debtholders that positioned Oct. 1 and Nov. 15 as significant procedural deadlines.)

Diamond and Comcast had a dispute that lasted nearly three months this summer, a fight that kept Diamond channels out of the homes of Comcast Xfinity subscribers right in the middle of Major League Baseball’s season. Diamond broadcasts a dozen MLB teams, as well.

Diamond and Comcast struck a deal that put the games back on at the start of August, but the deal newly put Diamond channels on a tier for Comcast subscribers — meaning, customers have to pay a premium each month to get them.

How the economics of the new Comcast deal affect Diamond remains to be seen, but it could have a ripple effect. Diamond has most-favored-nation clauses in its deal with various distributors, such as Comcast, that promise a given distributor Diamond will adjust its deal if it gives someone else better terms. Contract language isn’t public, though, so it’s unknown what Diamond’s Comcast agreement means for Diamond’s overall picture.

David Preschlack, Diamond’s CEO, positioned Friday’s news positively.

“We are appreciative of the ongoing collaboration and long-term partnerships with the NBA and NHL,” Preschlack said in a statement. “These new agreements that cover NBA and NHL linear and (direct-to-consumer) rights are another major milestone and continue Diamond’s momentum toward emergence, which will enable us to provide value for our NBA and NHL partners and continue to serve dedicated local NBA, NHL and MLB fans.

“Having completed negotiations with key partners that provide certainty around our content and distribution, Diamond is well positioned for the future. With the support of our creditors, we are focused on finalizing our reorganization plan to support our emergence and presenting that plan to the court in due course.”

In a way, Diamond’s new agreements with hockey and basketball throw the spotlight back on MLB, which does not have certainty as to whether Diamond will operate for its 2025 season. MLB declined comment Friday.

Baseball does not have an overarching deal with Diamond the way the NBA and NHL do. MLB and Diamond have recently discussed such an arrangement, a person briefed on the talks said, but it’s unknown whether there’s much traction. Diamond’s relationship with MLB has been the most confrontational throughout the bankruptcy process, which began in early 2023. Part of the issue is the way the two sides value MLB’s streaming rights.

Only five of the dozen teams Diamond carries on TV were also available to be watched through a streaming package Diamond offers, Bally Sports+. The more streaming options fans have, the easier a time they have watching games. But MLB and Diamond do not see eye to eye on the value of those streaming rights.

With the Mavs and Pelicans out, Diamond’s 13 NBA teams are the Atlanta Hawks, Charlotte Hornets, Cleveland Cavaliers, Detroit Pistons, Indiana Pacers, Los Angeles Clippers, Memphis Grizzlies, Miami Heat, Milwaukee Bucks, Minnesota Timberwolves, Oklahoma City Thunder, Orlando Magic and San Antonio Spurs.

The nine NHL teams: the Anaheim Ducks, Carolina Hurricanes, Columbus Blue Jackets, Detroit Red Wings, Los Angeles Kings, Minnesota Wild, Nashville Predators, St. Louis Blues and Tampa Bay Lightning.

The Pelicans reportedly have a deal to be broadcast over the air next season, on WVUE-TV.

(Top photo from the American Airlines Center in Dallas: Jerome Miron / USA Today)