Diamond Sports Group, the parent company of several regional sports networks, has signed a partnership agreement with American sportsbook FanDuel.
On October 21st, Diamond Sports Group's Bally Sports will be renamed FanDuel Sports Network. The official name of the RSN varies slightly depending on region across the 16 markets.
For example, the game between the Atlanta Braves and Atlanta Hawks will be broadcast under the FanDuel Sports Network Southeast banner. Meanwhile, Detroit Tigers fans will be able to watch the game on FanDuel Sports Network Detroit.
Financial details of the transaction were not disclosed.
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The Bally Sports sign in the Comerica Park outfield during the Detroit Tigers vs. Boston Red Sox game at Comerica Park on August 31, 2024 in Detroit, Michigan. (Mark Cunningham/MLB Photo via Getty Images)
Diamond Inc. has entered Chapter 11 bankruptcy. Earlier this month, the company announced plans to sever ties with all MLB teams it holds rights to (except the Braves) as it seeks to complete its bankruptcy reorganization by the end of 2024.
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Diamond CEO David Preschlack said: Partnership with FanDuel It is expected to help the company continue to “improve the fan experience.”
“Working with FanDuel provides a great avenue for Diamond to enhance the fan experience and deepen the added value we provide to teams, leagues and distribution partners. “We will strengthen our opportunities to further strengthen our deep connections and offer our DTC services to a growing digital audience,” Preschlack's statement said.
“In the meantime, having reached final agreements with the NBA, NHL and our major distributors, we remain focused on advancing our business and increasing value for our team partners and stakeholders. ”
Mike Raffensperger, president of sports at FanDuel, spoke about the symmetry the partnership can foster.
“Our partnership with Diamond provides us with the opportunity to place the FanDuel brand at the intersection of the nation's largest regional sports network groups,” Raffensperger said in a statement. “The majority of FanDuel’s customers are avid RSN viewers, and this agreement allows us to further strengthen the FanDuel brand among sports fans and provides a unique means of rewarding our users. .”
A sign is posted on a wall in the reception area of FanDuel's offices in Edinburgh, Scotland, on Tuesday, February 7, 2017. (Chris Ratcliffe/Bloomberg via Getty Images)
We don't expect viewers to experience any significant disruption when this change takes effect. The number of channels is expected to remain the same across markets. There are also no signs of major changes to live broadcasters, analysts, on-air reporters, etc.
The Bally Sports logo is painted on the microphone flag before the Arizona Diamondbacks vs. Detroit Tigers game at Chase Field in Phoenix, Arizona on May 18, 2024. (Chris Coduto/Getty Images)
Bally Sports+, a subscription streaming service, will still be available, but under the rebranded FanDuel banner.
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Diamond Sports Group stable RSN broadcasts MLB, NBA, and NHL games.
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