Report: FanDuel closes in on TV rights deal with bankrupt Diamond Sports Group
US sports betting giant is on the verge of sealing a lucrative streaming deal to replace Bally’s sports
FanDuel is close to agreeing a multi-year TV deal with Diamond Sports Group, as per a report from Bloomberg.
The agreement will see the FanDuel brand appear on Diamond’s 18 regional pay-TV networks.
In addition, the deal would see Flutter subsidiary FanDuel re-sell Diamond’s streaming service to fans while taking an equity stake in the company.
Diamond is currently undergoing a restructuring process with creditors after declaring bankruptcy in 2023, four years after being sold by Walt Disney Co. to Sinclair Inc. for $9.6bn.
TV watchers switching from cable subscriptions to online streaming platforms played a major part in Diamond’s decline, leading to the eventual bankruptcy declaration.
Diamond’s regional channels, which show games from 38 hockey, basketball and baseball teams, currently house the Bally’s Sports brands.
Their agreement is set to expire by the end of the current baseball season.
The deal would represent the latest step in FanDuel’s growth, following the acquisition of supplier BeyondPlay in February 2024.