Major League Baseball levied its biggest broadside yet against Diamond Sports Group on Friday, formally objecting to the proposed reorganization plan of the bankrupt regional sports network operator. 

Escalating what has already been nearly two years of rising tensions, the league in a filing with the U.S. Bankruptcy Court specifically called into question DSG’s plan to retain its rights contract with the Braves. After failing to receive a wide range of requested financial documents, MLB also still harbors serious doubts about DSG’s ability to become viable.

“Based on the current inadequate record, the Braves and MLB have grave concerns that, if the plan is confirmed, there is a substantial likelihood that the debtors will find themselves once again in financial distress and/or bankruptcy court in the near future,” the league said in its filing.

The objection arrives six days before DSG is due to go before the court for confirmation of its plan to emerge from bankruptcy. 

“Neither Braves nor MLB should be compelled to partner with a business that does not have a realistic roadmap to future operations,” the league added.

MLB’s objection comes about five weeks after DSG said it was looking to renegotiate much of its baseball rights, and that it would drop nearly every team it currently has absent a reduction in rights fees. As of now, only the Braves, Cardinals, and Marlins have any assurance of airing on FanDuel Sports Network in 2025. The objection also arrived one day after DSG agreed to a reworked rights deal with St. Louis. 

The local broadcast fate of the Angels, Rays, Reds, Royals, and Tigers is still uncertain as the situation continues. 

Next Steps

The key question now is whether the league’s stated concerns will have a material impact on DSG’s attempted reorganization. During the prior stages of the bankruptcy case, Judge Christopher Lopez has shown a generally permissive stance toward giving DSG what it wants to aid the company’s restructuring.

That said, MLB still holds some sizable leverage in this situation. Even after DSG’s previously amended deals with the NBA and NHL, baseball still represents the largest share of live content for the RSNs given the number of games involved, and without a critical mass of MLB games, the company will have a gaping hole in its spring and summer programming. 

DSG now has five days to formally respond to MLB’s objection. The U.S. Trustee, which oversees the administration of bankruptcy cases, previously objected to DSG’s plan, largely on procedural grounds relating to third-party consent.

LSU football commit Bryce Underwood, the top-ranked quarterback in the class of 2025, is set to visit Baton Rouge this weekend around the Tigers’ prime-time matchup against Alabama on Saturday night. And while Underwood has been verbally pledged to LSU since January, he may have 10 million reasons to change his mind, thanks to the shifting landscape of college sports.

Underwood is a senior at Belleville High School, which is less than 20 miles away from “The Big House”—Michigan Stadium in Ann Arbor. The five-star recruit has been at the center of college football discourse this week, thanks to some potentially very expensive tactics from his home-state school. Michigan fans are hoping Underwood will decommit from LSU and ultimately sign with the Wolverines.

Here’s what we know:

• Underwood is expected to land a multiyear NIL package “valued above $5 million” from any school he picks, according to On3.
• If Underwood were to choose Michigan, his total compensation could be “closer to double” that $5 million valuation, according to CBS Sports.
• Barstool Sports founder Dave Portnoy previously said he would put up $3 million via an NIL deal to help Michigan, his alma mater, land a top quarterback.
• A $10 million deal for Underwood would rival the total NIL money Caleb Williams was said to have made during his two years at USC, per The Athletic.

Michigan (5–4), the defending College Football Playoff champions, won’t make the postseason in the first year of the expanded 12-team Playoff. Wolverines coach Sherrone Moore is in the first season of a five-year, $30 million contract, after taking over for Jim Harbaugh, who left to return to the NFL and coach the Los Angeles Chargers.

LSU (6–2) is No. 15 in the initial CFP rankings, but likely needs to defeat 11th-ranked Alabama (6–2) to keep its Playoff chances alive.

Live sports rights like the NFL and English Premier League helped CBS Sports parent company Paramount Global add streaming subscribers and improve direct-to-consumer profitability in its most recent financial quarter.

Paramount, in its Q3 earnings released Friday, reported the addition of 3.5 million subscribers to Paramount+ at the end of September. The streaming service’s quarterly revenue grew by 25% compared to the same period in 2023, and Paramount’s overall DTC income shot up 10% to $1.69 billion.

September brought the return of the NFL and college football, with games broadcasts on CBS also streaming on Paramount+. That month also kicked off this season’s UEFA Champions League, with the streamer being a major part of CBS Sports’ deal that is running until 2030.

Paramount co-CEO George Cheeks said on Friday’s earnings call that the NFL on CBS averaged more than 20 million viewers in the first five weeks of the season, with streaming of the games on Paramount+ up more than 50% year over year. “Our programming strategy remains laser focused on entertainment, news, and sports that excel on both CBS and Paramount+,” Cheeks said.

Paramount+, which starts at $7.99 a month, now has 72 million subscribers. Beyond football and soccer, CBS Sports and Paramount+ also broadcast men’s and women’s college basketball, men’s golf (the Masters, PGA Championship, and PGA Tour), the NWSL, and WNBA throughout the year.

Skydance Merger Still on Track 

Paramount’s $8 billion merger with Skydance Media remains on track to close in the first half of 2025, the company announced Friday. Until then, operations will continue as normal. 

“The Skydance transaction achieved a few key milestones, including the conclusion of the ‘go-shop’ period,” Paramount co-CEO Chris McCarthy said. On Monday, Paramount filed its S-4 registration statement with the U.S. Securities and Exchange Commission, which is a key step in mergers and acquisitions.

Exactly how that deal will impact CBS Sports is still largely unknown.