FanDuel is taking over the branding rights for the 16 regional sports networks previously branded by Bally’s.
The agreement with Diamond Sports Group will see those networks rebranded as FanDuel Sports Networks on Monday. The deal, initially reported in June, includes the naming rights to a direct-to-consumer product as well.
“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, said in Friday‘s release. “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.”
The stock of FanDuel parent company Flutter did not immediately react to the news. It was down 0.5% at 1:30 pm Eastern, about an hour after the news.
Additional FanDuel benefits
There are other aspects to the deal aside from the renaming rights. The deal includes the branding will see “linear and digital media placement and integration opportunities across all live NBA, NHL and MLB games” shown across the 16 networks.
The operator also gets a “shared commitment” to explore an app for the direct-to-consumer product. That app could syndicate FanDuel TV content across FanDuel Sports Network.
The sportsbook will also retain reseller designation for Diamond’s direct-to-consumer product, as well as “additional economic and equity elements.”
Online streaming branded too
Customers that have access to one of the RSNs either directly or through a TV package can stream their local games online.
All access will be available through FanDuelSportsNetwork.com.
According to The Athletic, MLB attorney James Bromley criticized the deal’s process in a Friday judicial hearing.
“It is critical to Major League Baseball and its clubs that they be in the middle of any conversations with respect to the integration of online sports betting with their sports content,” Bromley said.
Bally’s had high hopes for RSNs
Bally’s Chairman Soo Kim said the Bally Sports branding would “deliver significant shareholder value” for the company when it was announced in November 2020. The deal was seen as a funnel for Bally Bet customers.
But Bally Bet had issues of its own, and a failed roadmap for interactive gaming ultimately led to the company changing its plans.
Between those events, Diamond Sports announced it filed for Chapter 11 amid a crumbling environment for regional sports networks.