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After previous rumors of a potential deal, FanDuel is reportedly set to take over the Bally Sports brand from Diamond Sports Group-owned regional sports networks.
In a filing in bankruptcy court Tuesday, Diamond Sports Group officially confirmed that it had a deal in place for FanDuel to replace Bally Sports as the naming partner of its brands after its deal with the gambling company is set to expire.
“The Debtors will designate FanDuel as its exclusive integration partner in specified sports betting and related online wagering/gaming categories across the RSN Services and will provide substantial and prominent integrations to FanDuel across the RSN Services,” the motion from Diamond stated.
The motion filed by the regional sports network operator asked for the court to confirm the deal by Monday, October 21st, signaling that FanDuel could officially renege on the agreement. It is noted that FanDuel has other options to cease the arrangement, including if the company cannot exit Chapter 11 bankruptcy before the conclusion of April 2025.
While specific terms of the agreement between the daily fantasy company and Diamond Sports Group were not disclosed, the filing did reveal that FanDuel would be able to purchase up to 5% of equity in the organization, while also agreeing to provide content to the regional sports networks.
“Following the initial term, FanDuel will deliver and license to the Debtors certain content from FanDuel TV and the Debtors will have the right and obligation to distribute such content on their services in accordance with the terms and conditions set forth in the FanDuel Term Sheet,” the filing said.
