<?xml version="1.0" encoding="UTF-8"?>
<edgarSubmission xmlns:com="http://www.sec.gov/edgar/common" xmlns="http://www.sec.gov/edgar/thirteenffiler">
  <schemaVersion>X0202</schemaVersion>
  <headerData>
    <submissionType>13F-HR</submissionType>
    <filerInfo>
      <liveTestFlag>LIVE</liveTestFlag>
      <filer>
        <credentials>
          <cik>0002084285</cik>
          <ccc>XXXXXXXX</ccc>
        </credentials>
      </filer>
      <periodOfReport>09-30-2025</periodOfReport>
    </filerInfo>
  </headerData>
  <formData>
    <coverPage>
      <reportCalendarOrQuarter>09-30-2025</reportCalendarOrQuarter>
      <isAmendment>false</isAmendment>
      <filingManager>
        <name>Black Diamond Capital Management I, LLLP</name>
        <address>
          <com:street1>5330 YACHT HAVEN GRANDE</com:street1>
          <com:street2>SUITE 100, BOX 35</com:street2>
          <com:city>ST. THOMAS</com:city>
          <com:stateOrCountry>VI</com:stateOrCountry>
          <com:zipCode>00802</com:zipCode>
        </address>
      </filingManager>
      <reportType>13F HOLDINGS REPORT</reportType>
      <form13FFileNumber>028-25877</form13FFileNumber>
      <crdNumber>000154495</crdNumber>
      <secFileNumber>801-71712</secFileNumber>
      <provideInfoForInstruction5>Y</provideInfoForInstruction5>
      <additionalInformation>Effective August 22, 2025, Black Diamond Capital Management I, LLLP replaced BDCM CT, L.L.C. (f/k/a Black Diamond Capital Management, L.L.C.) as the primary registered investment adviser that exercises investment discretion on behalf of investment advisory affiliates that serve as investment advisers to Black Diamond investment vehicles. As such, going forward, and starting with this Form 13F for the quarter ended September 30, 2025, Black Diamond Capital Management I, LLLP will report the positions in Section 13(f) securities held by the Black Diamond investment vehicles on Form 13F, and BDCM CT, L.L.C. will no longer file Forms 13F.</additionalInformation>
    </coverPage>
    <signatureBlock>
      <name>Stephen H. Deckoff</name>
      <title>Managing Principal</title>
      <phone>203-552-0888</phone>
      <signature>/s/ Stephen H. Deckoff</signature>
      <city>Stamford</city>
      <stateOrCountry>CT</stateOrCountry>
      <signatureDate>11-14-2025</signatureDate>
    </signatureBlock>
    <summaryPage>
      <otherIncludedManagersCount>0</otherIncludedManagersCount>
      <tableEntryTotal>14</tableEntryTotal>
      <tableValueTotal>150423523</tableValueTotal>
    </summaryPage>
  </formData>
</edgarSubmission>
