FanDuel secures naming rights deal for Diamond’s RSNs
US sports betting leader to replace Bally’s as title partner for 16 regional networks across the US
FanDuel has agreed a deal to replace Bally Sports as the naming rights holder for Diamond Sports Group’s 16 regional sports networks (RSNs), effective from October 21.
The agreement, which has been described as a “broad, long-term commercial partnership,” will see the Flutter-owned brand take title rights for RSNs four years after Bally’s penned its own deal.
Bally’s replaced Fox as the title brand for the RSNs in 2020 after it agreed a 10-year deal.
FanDuel will also gain the naming rights to Diamond’s direct to consumer (DTC) product, the FanDuel Sports Network.
The operator will be afforded linear and digital media placement and integration across all live NBA, NHL, and MLB games on the FanDuel Sports Network, while holding “reseller designation” for the DTC product, too.
FanDuel will also mesh its own FanDuel TV programming into Diamond’s output, including its live rights packages and host of in-house podcasts.
The deal was first reported by Bloomberg in June.
Diamond filed for Chapter 11 bankruptcy in the US in March 2023, as the business built up debts of more than $8bn.
As per court documents, FanDuel will retain the opportunity to purchase up to 5% equity in any reorganized business.
Mike Raffensperger, FanDuel president of sports, said: “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.
“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.”
David Preschlack, Diamond Sports Group CEO, said the deal would provide a “tremendous pathway” to improve fan experience and add value to its partners.
The CEO remarked: “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.”