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Diamond Sports’ regional sports networks are undergoing further changes, as the company recently announced a naming rights agreement with FanDuel, which will result in the rebranding of the Bally Sports channels. The deal comes at a time when the NHL season has just begun and the NBA season is set to start soon. If Diamond Sports successfully emerges from bankruptcy protection, FanDuel will become a long-term naming rights partner and will also have the opportunity to acquire up to 5% equity in the reorganized company.
The partnership with FanDuel is seen as a strategic move for Diamond Sports, as it aligns well with the online gaming business. This will be the third name change for the regional sports networks, following Disney’s divestment of the networks to Sinclair, which later signed a naming rights deal with Bally’s Corp. The partnership with Bally’s Corp. ended as part of a settlement between Diamond Sports and Sinclair earlier this year.
Despite the challenges faced by Diamond Sports, the company is optimistic about emerging from bankruptcy by December, based on its financial projections. Throughout the bankruptcy proceedings, several MLB teams have already exited the networks, with more expected to do so for the 2025 season. Additionally, some NBA teams have turned to local broadcast stations, while NHL teams have launched over-the-top streaming partnerships for their local viewing.
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Emily Jensen, graduated from the London School of Economics and Political Science (LSE) in the UK in 2015 with a degree in Economics. She specializes in financial markets and international trade. After graduating, she worked as an analyst at an investment bank in London, where she developed expertise in global economic trends. She later transitioned into consulting, focusing on fintech ventures and providing insights into global economic developments. Emily is passionate about the intersection of finance and technology and aims to drive innovation in the financial sector.
