Amazon will partner with Diamond Sports as part of a restructuring agreement as the largest owner of regional sports networks looks to emerge from bankruptcy. Diamond owns 18 networks under the Bally Sports banner. Those networks have the rights to 37 professional teams — 11 baseball, 15 NBA and 11 NHL. Diamond Sports has been in Chapter 11 bankruptcy proceedings in the Southern District of Texas since it filed for protection last March. The terms of the agreement were announced by Diamond Sports Wednesday morning. Amazon had no comment. It remains subject to approval by the bankruptcy court. Under the terms of the restructuring agreement, Amazon will make a minority investment in Diamond and enter into a commercial arrangement to provide access to Diamond’s content via Prime Video.
