Are you ready for some exciting news in the world of regional sports networks? Diamond Sports is making a big move that is sure to shake things up in the industry. In a recent court filing, the company announced a new naming rights deal with Flutter-owned FanDuel, which will see the rebranding of the Bally Sports channels. This announcement comes just as the NHL season kicks off and the NBA’s 2024-2025 season is right around the corner.
If Diamond Sports emerges from bankruptcy as planned, FanDuel will become a long-term naming rights partner, giving them the opportunity to buy up to 5% equity in the reorganized company. This partnership not only benefits Diamond Sports but also provides FanDuel, the leading sports betting company, with even more exposure in the market.
While the specific financial terms of the agreement were not disclosed, Diamond considered FanDuel to be an ideal partner due to the alignment between the regional sports networks and the online gaming business. This marks the third name change for the regional sports networks, following Disney’s divestment of the networks to Sinclair in 2019.
The road to emerging from bankruptcy has been a challenging one for Diamond Sports, with negotiations with various sports leagues and ongoing changes in team contracts. Despite obstacles, Diamond Sports hopes to exit bankruptcy as early as December, bringing stability to the networks.
With teams across the NBA, NHL, and MLB seeking alternative local viewing options, the landscape of regional sports networks is rapidly evolving. Diamond Sports’ decision to drop several MLB teams for the 2025 season has sparked interest and concern among fans and industry insiders alike. Meanwhile, NBA teams are exploring partnerships with local broadcast stations, and the NHL is embracing streaming options for their local games.
Exciting changes are on the horizon for Diamond Sports’ regional sports networks, and the new partnership with FanDuel is just the beginning. Stay tuned for more updates as this story continues to unfold. Don’t miss out on the latest news and updates from Extreme Investor Network, your go-to source for all things business and finance.