The struggles for the FanDuel Sports Network continue, as all nine of the MLB teams with which it had broadcast deals have terminated their agreements. Concerns over the financial stability of parent company Main Street Sports Group led to the decisions by the Atlanta Braves, Cincinnati Reds, Detroit Tigers, Kansas City Royals, Los Angeles Angels, Miami Marlins, Milwaukee Brewers, St. Louis Cardinals, and Tampa Bay Rays.
First reported by The Athletic, this doesn’t necessarily mean that the teams won’t renegotiate their deals. They could create a structure that offers more protection in the event of another bankruptcy.
Main Street Sports Group filed for Chapter 11 in March 2023
Several teams, including the Cardinals and Marlins, reportedly haven’t received rights-fee payments they were due. Main Street Sports Group filed for Chapter 11 in March 2023 due to significant debt levels and declining ad revenue.
MLB Commissioner Rob Manfred told the Associated Press that the teams are open to moving to MLB Media after exiting the FanDuel Sports Network agreement. He said that the teams ultimately need to find the deal that will maximize broadcast quality and revenue for them.
Main Street could get a lifeline after the Sports Business Journal revealed that DAZN and Fubo are both said to be in discussions about a possible takeover of the embattled company. FanDuel Sports Network has no relationship with the Flutter Entertainment-owned sportsbook, it just licenses the name.
