The naming rights to the Bally Sports regional networks will change hands. The only questions involve a matter of when, and to what.
The latter question was potentially resolved in a court filing Monday, when Diamond Sports Group asked a Houston bankruptcy court to approve a rebranding of its regional sports networks from Bally to FanDuel.
If approved, the rebranding agreement would reportedly lock in a new naming rights partnership for the 2024-25 NHL and NBA seasons, and potentially beyond if Diamond successfully emerges from bankruptcy.
According to Tony Paul of the Detroit News, the switchover could come Monday.
NEWS: FanDuel is taking over the naming rights for the old Bally Sports regional sports networks, including Bally Sports Detroit. Won’t affect customers. Channels aren’t changing. Content isn’t changing. Graphics will change (bye red!). The switchover is likely happening Monday.
— Tony Paul | Detroit News (@TonyPaul1984) October 16, 2024
In its court filing, Diamond said it needs to rebrand now because its current agreement with Bally Sports is set to expire at the end of the Major League Baseball season. Only four teams are left standing in the MLB postseason, with the World Series set to begin as early as this weekend.
According to the Dallas Morning News, Diamond said it will receive “a significant rights fee payment and certain media and advertising spending commitments” under the agreement with FanDuel, which will also have the right to purchase as much as 5% of Diamond’s equity after it exits Chapter 11 and earn performance warrants.
FanDuel is the largest sports book in the U.S. Its own original content will populate the rebranded networks after the switchover.
Diamond has already cut ties with many of its MLB teams, while saying it plans to retain the Atlanta Braves.
Diamond Sports counsel tells the U.S. Bankruptcy Court for the Southern District of Texas that it plans to drop nearly all of its remaining MLB contracts, with a plan to retain only the Atlanta Braves.
— Anthony Crupi (@crupicrupicrupi) October 2, 2024
Another five teams – the Kansas City Royals, the St. Louis Cardinals, the Los Angeles Angels, the Cincinnati Reds and Miami Marlins – currently have a joint ventures with Diamond that the company hasn’t decided whether or not to keep.
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