The long, 20-month bankruptcy process has come to end for Diamond Sports, the owner of the FanDuel-branded regional sports networks. They formally emerged from Chapter 11 today, having reduced their debt from nearly $9 billion to $200 million, and have rebranded their company as Main Street Sports Group.
They also pared their operation down to 16 RSNs (plus a 20% stake in the YES Network), which collectively have the local rights for 13 NBA teams, eight NHL teams and eight MLB teams. In addition to the Canes, the Columbus Blue Jackets, Detroit Red Wings, Los Angeles Kings, Minnesota Wild, Nashville Predators, St. Louis Blues and Tampa Bay Lightning remain under the Main Street Sports umbrella.