Diamond Sports is Seeking a Sports Betting Rebrand
Diamond Sports wants to rebrand its portfolio of local Bally Sports regional sports networks (RSNs) and rebrand them.

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FanDuel has found its TV Diamond in the rough.
On Wednesday, the bankrupt sports broadcaster Diamond Sports announced it is seeking court approval to take its rapidly decaying portfolio of local Bally Sports regional sports networks (RSNs) and rebrand them as FanDuel channels, part of a naming-rights deal with the betting giant. It’s just the latest development in the ongoing convergence of sports media and sports gambling.
Bally’s Well That Ends Well
Diamond Sports needs a win. The company, which filed for Chapter 11 bankruptcy in March, will stop carrying MLB games next year in 11 of the 12 markets it currently services (though it did this summer re-sign deals with 13 NBA and nine NHL teams). Meanwhile, Amazon has rescinded its roughly $115 million cash-infusion offer that was meant to serve as both a lifeline amid bankruptcy proceedings and a potential bridge to a streaming future, sources told the Sports Business Journal in August.
Like the rest of sports media, the company is now embracing the wide, wild, and wildly lucrative world of legalized gambling:
- Terms of the deal were not disclosed, though Diamond says it will receive a “significant” rights fee payment as well as certain media and ad spend commitments. FanDuel, which already operates a national cable and satellite channel called FanDuel TV, will have the right to acquire as much as 5% of Diamond’s equity once it fully U-turns out of bankruptcy.
- Translation: Expect sports gambling content to be featured heavily on the FanDuel-branded RSNs. Sports gambling revenue is projected to reach nearly $15 billion in the US this year, according to Vixio Regulatory Intelligence.
Join the Team: Sportsbooks have become key partners for sports media outlets, in more ways than one. From Aug. 15 through week three of NFL play, FanDuel, DraftKings, and BetMGM spent a combined $75 million on linear TV advertising, up more than 13% year-over-year, according to iSpot. Meanwhile, sports blog Deadspin has mutated into a gambling referral site. Sports Illustrated has launched (and since unwound) an SI-branded sportsbook. Even Mickey Mouse has a second life as a sports bookie: Disney’s partnering with Penn Entertainment to launch an ESPN-branded sportsbook, ESPN Bet.