Bally’s Casinos will be the new title sponsor of the FOX regional sports networks that Sinclair acquired from the Walt Disney Company. Earlier this week it was reported that Sinclair was looking to make this kind of deal to rename the networks. On Thursday, it was Andrew Marchand of The New York Post that reported that Sinclair had struck a deal with the casino operator.
According to Marchand, Bally’s will pay Sinclair $85 million to have the naming rights for the networks for the next ten years. That provides the kind of stability necessary to create a successful rebranding.
The deal will also see Sinclair become part owner of Bally’s. The broadcast company gets a 15% stake in the casino company with the option to take on another 15% if certainly benchmarks are hit.
Bally’s will have its name on play-by-play broadcasts for 42 major league teams across baseball, hockey, and basketball. Marchand reports that it hopes to be able to embed the ability to make bets on games directly into connected TVs.
The YES Network is not part of the deal. It carries Yankee games and Brooklyn Nets games. Sinclair owns a minority stake in YES.
While Sinclair and Bally’s have agreed to terms, nothing is official yet. Major League Baseball, the NBA, and the NHL all have to sign off on the deal in order for Bally’s to be able to advertise its services during the leagues’ respective games.