FanDuel Nearing Deal with Diamond Sports Group for Naming Rights to Bally Sports Channels
FanDuel Nearing Deal with Diamond Sports Group for Naming Rights to Bally Sports Channels
Diamond’s licensing agreement with Bally ends after the 2024 MLB season, but it appears the channels already have a new name ready to go.
Whether or not Diamond Sports Group is able to exit bankruptcy protections is still an open question, but either way, the Bally Sports branding on its regional sports networks (RSNs) will be gone by the end of baseball season. Diamond’s naming rights deal with Bally expires at the end of the 2024 MLB campaign, and getting a new partner to take over that responsibility has been high on its priorities list. As first reported by Bloomberg, it appears the search is nearly over, as Diamond is closing in on a deal with FanDuel to sell the sports-betting colossus naming rights to the channels.
Key Details:
- In addition to naming rights, FanDuel would put sports betting-related content on the channels
- The company would also help to sell the streamer currently known as Bally Sports+ to viewers.
- Selling naming rights is an important step, but renewing its carriage contract with Comcast is still at the top of Diamond’s priorities list.
The deal between FanDuel and Diamond is not yet finalized, but it appears close to the finish line. In addition to giving FanDuel the naming rights to the 18 regional sports networks now under the Bally Sports brand, Diamond would allow the gambling company to feature sports betting-related shows on the channels.
Bloomberg also reports that FanDuel would help distribute Diamond Sports’ streaming service, currently named Bally Sports+. FanDuel would also take an equity stake in Diamond, providing the company with more financial stability as it continues to try and satisfy its creditors that its bankruptcy reorganization plan is viable.
Getting the naming rights to Bally Sports channels would give FanDuel increased visibility as the popularity of sports betting continues to rise. For Diamond, it would mean one less big-time priority to accomplish, and it would give the company more room to focus on its attempts to reach a new carriage deal with Comcast.
That has been at the top of Diamond’s list for months, but the two sides remain at a stalemate. Comcast wants to move Bally Sports RSNs to a higher-priced channel package, which Diamond is firmly against. The dispute caused Comcast to pull Bally Sports channels from its airwaves altogether when the former carriage deal between the two expired at the end of April, and there have been no public updates to suggest the two sides are close to a new agreement.
Major League Baseball officials are the loudest in their condemnations of Diamond for losing its Comcast viewership, but the NBA and NHL are also concerned that Diamond’s bankruptcy reorg plan isn’t viable without a new deal with Comcast. Diamond requested a delay for a hearing originally scheduled for June 18, at which its creditors were to vote on whether or not to confirm the plan.
There are still plenty of questions surrounding Diamond Sports Group and its strategy for the future, but at least the mystery of what its RSNs will be called following the end of baseball season is close to being solved.
Bally Sports+
Bally Sports+ was a direct-to-consumer streaming service that provided live, in-market games without requiring a cable or satellite subscription. It allowed fans to watch their local Bally Sports regional sports network (RSN) without a traditional TV package.