FanDuel announced a deal to take over 16 Bally Sports regional sports channels in a contract with Diamond Sports for branding rights.
FanDuel Expands Its Reach
FanDuel is not content to rest on its laurels as the nation’s most popular sportsbook. Instead, it is attempting to expand its footprint after striking a deal with Diamond Sports in a long-term pact that will see the regional sports networks once branded as Bally Sports become part of FanDuel’s growing media empire.
“Partnering with Diamond provides us an opportunity to put the FanDuel brand at the intersection of the nation’s largest group of regional sports networks,” said Mike Raffensperger, president of sports at FanDuel. “A large cohort of FanDuel customers are devoted RSN viewers, and this agreement allows us to further cement the FanDuel brand with sports fans and provides a unique vehicle to reward our users.”
Reports are that Bally Sports will change to FanDuel Sports on October 21st and usher in a new chapter for America’s leading digital sportsbook.
David Preschlack, CEO of Diamond, stated: “Collaborating with FanDuel provides a tremendous pathway for Diamond to elevate the fan experience and deepen the incremental value we provide for our team, league, and distribution partners. This partnership reinforces opportunities to further strengthen the close connection our RSNs have with local fans, including enhancing our DTC offering for a growing digital audience.
“In the meantime, having finalized agreements with the NBA, NHL, and our key distributors, we remain focused on moving our business forward and driving value for our team partners and our stakeholders.”
What’s in the Deal?
Diamond Sports had filed for bankruptcy, but its restructuring was backed by Amazon, and the deal with FanDuel has put the company back on the map. FanDuel will not only be front and center as the brand name for all the networks, but the deal also includes naming rights to a direct-to-consumer product.
The bullet points of the deal are as follows:
- Exclusive right to name Diamond’s 16 regional sports networks (“RSNs”) and Diamond’s digital offerings, including the direct-to-consumer (“DTC”) product, as FanDuel Sports Network;
- Linear and digital media placement and integration opportunities across all live NBA, NHL, and MLB games on FanDuel Sports Network;
- Shared commitment to exploring a unified DTC app experience with the ability to syndicate FanDuel TV programming across FanDuel Sports Network, including studio programming like “Up & Adams,” “Run It Back,” and FanDuel TV’s live rights programming;
- FanDuel to have reseller designation for Diamond’s DTC product; and additional economic and equity elements.
FanDuel’s 16 networks include FanDuel Sports Network Detroit, FanDuel Sports Network Florida, FanDuel Sports Network Great Lakes, FanDuel Sports Network Kansas City, FanDuel Sports Network Indiana, FanDuel Sports Network Midwest, FanDuel Sports Network North, FanDuel Sports Network Ohio, FanDuel Sports Network Oklahoma, FanDuel Sports Network SoCal, FanDuel Sports Network South, FanDuel Sports Network Southeast, FanDuel Sports Network Southwest, FanDuel Sports Network Sun, FanDuel Sports Network West, and FanDuel Sports Network Wisconsin.
