Kirk Van Houten
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- May 7, 2019
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The company said in court papers filed Tuesday that it reached a naming rights deal with Flutter-owned FanDuel, which will rebrand the Bally Sports channels just as the National Hockey League season has started and the National Basketball Association’s 2024-2025 season is less than a week away. Diamond Sports said in the filing that if it is able to emerge from bankruptcy protection, FanDuel will be a “long-term naming rights partner.” The new naming rights agreement would also give FanDuel the right to buy up to 5% of equity in the reorganized company and get performance warrants for up to 5% of equity. The agreement is subject to court approval.
In Tuesday’s court papers, Diamond said that while discussions with FanDuel began in February, it waited until it finalized agreements with the NBA and NHL to negotiate the final terms of the naming rights deal. A FanDuel representative declined to comment beyond the filings, and the specific financial terms of the agreement were not disclosed.
