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Major League Baseball and the Atlanta Braves have raised concerns regarding the reorganization plan and future viability of Diamond Sports Group, the country’s largest owner of regional sports networks, as per a Friday bankruptcy court filing.

Both MLB and the Braves expressed “grave concerns” about the current plan, stating that there is a high likelihood of Diamond Sports facing financial distress or bankruptcy in the near future.

They emphasized the importance of a successful reorganization plan for Diamond Sports but are skeptical about the proposed plan’s viability.

A representative for Diamond has not yet commented on the filing. The company has until Wednesday to respond to the objection, and its reorganization plan will be presented to a U.S. bankruptcy judge on Thursday.

MLB and the Braves’ main issue lies in the lack of information provided in the restructuring proposal, consisting of 20 documents totaling 181 pages. Diamond’s attorneys cited confidentiality agreements with distribution partners as a reason for limited information disclosure.

Additionally, MLB and the Braves seek more clarity on Diamond’s proposed commercial partnership with Amazon, which is still in discussion according to Diamond’s attorneys.

The concern also extends to Diamond Sports’ direct-to-consumer plan, crucial as more customers transition away from traditional cable bundles.

This is not the first instance of MLB requesting more transparency on Diamond’s financial plans. In October, MLB sought additional information on a naming rights agreement between Diamond and FanDuel.

The Braves, part of Atlanta Braves Holdings, separated from Liberty Media in 2023 and remain a publicly traded company. Diamond Sports plans to retain its contract with the Braves and renegotiate contracts with 11 other MLB teams.

Despite the objection filed on Friday, the Braves have not ruled out Diamond for their regional media rights.

Recent developments include the St. Louis Cardinals reaching an agreement with Diamond for their local rights, and negotiations progressing with the Miami Marlins.

However, the Cincinnati Reds announced their exit from Diamond’s regional sports network in a court filing on Friday.

Three of the 11 teams being renegotiated with by Diamond have turned to MLB to produce their local games.