FanDuel Sports Network will officially be the TV home for teams affiliated with 16 regional sports channels across the NBA, NHL, and MLB.
On Friday, the bankrupt Diamond Sports Group announced a deal for the sportsbook to take over naming rights of the company’s existing RSNs, beginning Monday—just in time for the NBA season, which starts Tuesday.
The most noticeable change will be the names of the channels. For example, Bally Sports Detroit becomes FanDuel Sports Network Detroit (which airs Pistons and Red Wings games). And of course, now FanDuel will be marketing its sportsbook operations directly to viewers that might be potential bettors across the nation.
Done Deal
The announcement was expected after an emergency motion that DSG filed with the U.S. Bankruptcy Court earlier this week.
The pact gives FanDuel naming rights over the portfolio of networks and replaces Bally Sports, as that contract expires at the end of the MLB season. As part of the deal, FanDuel takes a 5% equity stake in DSG, with performance-based warrants to increase that to 10%.
The agreement contains “a significant rights fee payment and certain media and advertising spending commitments.” DSG also gains some content currently shown on FanDuel TV, while FanDuel is incentivized to help increase DSG’s subscriber base.
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