From CNBC: 2024-10-16 15:41:37

Diamond Sports’ regional sports networks are set for a new name change after a naming rights deal with Flutter-owned FanDuel. The deal, pending court approval, includes provisions for FanDuel to become a long-term partner, acquire equity, and receive performance warrants. The partnership aims to boost exposure for both companies in the sports and gaming industries.

This rebranding marks the third name change for the regional sports networks, which were divested by Disney in 2019 to Sinclair. Previous naming rights were held by Bally’s Corp., which ended as part of a settlement between Diamond Sports and Sinclair earlier this year. Diamond Sports had filed for bankruptcy protection in 2023, citing financial challenges exacerbated by Sinclair’s ownership.

The ongoing bankruptcy proceedings have led to the departure of several MLB, NBA, and NHL teams from the regional sports networks. Diamond Sports recently announced plans to drop all MLB teams except for the Atlanta Braves in 2025. Teams like the San Diego Padres and Arizona Diamondbacks have already left, with the MLB taking over the production of their local games. Some NBA and NHL teams have also sought alternative local broadcasting options amid the network’s restructuring.



Read more at CNBC: Diamond, FanDuel reach naming rights deal for regional sports networks