Nine Major League Baseball teams severed ties with Main Street Sports Group today,but sources indicate revised offers could be coming as early as Friday in an attempt to bring them back to the table.
while a full reconciliation appears unlikely-especially with main Street’s potential sale to DAZN or another bidder currently stalled-a deal involving at least two key markets with FanDuel Sports Network connections (the Atlanta Braves and Tampa Bay Rays) could be enough to keep negotiations alive.
Sources familiar with the matter say Main Street’s previous proposals to its NBA and NHL partners-and presumably to the Braves,Rays,St. Louis Cardinals, Milwaukee Brewers, Cincinnati Reds, Kansas City Royals, Detroit Tigers, Los Angeles Angels and Miami Marlins-included three-year contract extensions, a 20% reduction in rights fees this season, deferral of those reduced payments until the second or third quarter of this year, and a 50-50 profit share in future years.
The expectation is that Main Street will present a sweetened offer on Friday,according to a spokesperson who stated today: “We remain in active dialog with all of our team partners regarding potential revised terms for agreements going forward.”
The Marlins, in particular, are exploring all avenues. The team’s front office is continuing discussions with Main Street while simultaneously considering options with MLB TV and OTA distributor Scripps Sports, wich currently broadcasts NHL’s Florida panthers games.
According to a source, today’s terminations free the Marlins-and the other eight affected MLB franchises-from potential legal complications should Main Street file for bankruptcy again, having previously emerged from Chapter 11 last year. Remaining under contract could have meant continued obligations to main Street.
The Miami Herald reported Thursday that the terminations stemmed from Main Street’s failure to make its Jan. 1 rights fee payment to the Marlins.
“No matter what happens, whether it’s Main Street, a third party or MLB media, fans are going to have the games,” MLB Commissioner Rob Manfred told reporters Thursday.
Substantive News Report & Answers to Questions:
Why did this happen?
Nine Major League Baseball teams terminated their contracts with main Street Sports Group due to the company’s failure to meet financial obligations, specifically a missed rights fee payment to the miami Marlins on January 1st. This move comes amid uncertainty surrounding Main Street’s potential sale to DAZN or another bidder, which is currently stalled. The teams were also likely concerned about potential legal complications should Main Street file for bankruptcy again, having previously emerged from Chapter 11 last year.
Who was involved?
The nine MLB teams involved are the Atlanta Braves,Tampa Bay Rays,St. Louis Cardinals,Milwaukee Brewers,Cincinnati Reds,Kansas City Royals,Detroit Tigers,Los Angeles Angels,and Miami Marlins. Main Street Sports Group is the media company whose contracts were terminated. MLB Commissioner Rob Manfred also commented on the situation.Potential future players include DAZN, Scripps Sports, and MLB TV.
What happened?
Nine MLB teams ended their broadcasting agreements with Main Street Sports group. The teams are exploring option broadcasting options, including MLB TV and Scripps Sports. Main Street had
