Bally Sports Rebrands as FanDuel Sports Network

The premier mobile gaming destination in North America that has redefined fantasy sports in pursuit of its mission of making sports more exciting, FanDuel, has secured a deal to rebrand Diamond Sports Group’s 16 regional sports networks, previously known as Bally Sports, to the FanDuel Sports Network. 

The move, effective October 21, follows a 2021 branding agreement inked with Bally’s Corporation. 

Exclusive Naming Rights for FanDuel
Under the new partnership, FanDuel will have exclusive naming rights across these networks and Diamond’s digital offerings, including its direct-to-consumer product.

The news comes amid Cord Cutters News reporting on the regional sports network industry’s significant decline, with Diamond Sports Group’s Bally Sports networks losing a vast portion of their value. 

In a recent post on X, CNBC analyst Mike Ozanian highlighted that the equity valuation of these networks has plunged from $20 billion in 2018 to just $600 million today, marking a dramatic fall over the span of six years. 

This steep drop reflects the growing challenges faced by traditional sports networks, especially with shifts toward streaming and cord-cutting trends impacting the industry.

“Unified Direct-to-Consumer App Experience”
The fresh agreement includes “linear and digital media placement and integration opportunities” across live broadcasts of NBA, NHL, and MLB games aired on these regional networks. 

In addition, FanDuel and Diamond have committed to exploring a “unified direct-to-consumer app experience” and also plan to integrate FanDuel TV programming across the newly branded FanDuel Sports Network.

FanDuel will also hold reseller designation for Diamond’s direct-to-consumer offerings, with the agreement including other “economic and equity elements.”

Diamond Sports Group, a subsidiary of American telecommunications conglomerate Sinclair Inc., provides local sports coverage across the US and has partnered with leagues like the NBA and NHL to bring live sports to regional markets.

“Tremendous Pathway to Elevate the Fan Experience”
Diamond’s chief executive officer, David Preschlack, has commented that the collaboration with FanDuel represents a “tremendous pathway” for them to ”elevate the fan experience and deepen the incremental value” they offer to the team, league, and distribution partners.

Similarly, FanDuel’s president of sports, Mike Raffensperger, added the new partnership allows them to put their brand “at the intersection of the nation’s largest group of regional sports networks” while providing “a unique vehicle” to reward users.

Raffensperger also took the opportunity to talk about the “large cohort” of devoted FanDuel customers and regional sports network viewers, expanding the agreement will enable them to “further cement” the brand with these supporters. 

The financial terms of the agreement, which comes after years of uncertainty for both Diamond and Bally Sports because of an apparently never-ending bankruptcy battle, have not been disclosed.