DETROIT – As the NHL and the NBA seasons get underway, according to CNBC Sports, Bally Sports’ parent company Diamond Sports Group, which broadcasts your Detroit Tigers, Pistons, and Red Wings, is set to sell the naming rights to FanDuel Sports Network in a new deal.
The deal was announced on Wednesday (Oct. 16) night: Flutter Entertainment, the parent company of FanDuel, would purchase Bally Sports.
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The network sale will be its third time reformatting in as many years. Court documents revealed on Oct. 15 that Bally Sports channels would become FanDuel.
The new deal bolsters Diamond Sports’ efforts to get out of bankruptcy protection while adding financial stability.
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FanDuel said the new deal will offer increased brand stability and visibility with live sports as they do not want what happened to the Tigers earlier to occur with the Pistons and Red Wings as their seasons get underway.
The financial terms have not been revealed, but the agreement allows FanDuel to purchase up to 10% equity in the new deal.
“Editor’s note: This article incorrectly stated that FanDuel was acquiring Bally Sports. It has since been corrected.
