The unraveling of the FanDuel Sports Networks is happening quickly.
After a Wednesday evening report indicating a potential purchase of Main Street Sports Group, the owner of the FanDuel Sports Networks, by London-based streaming service DAZN was off the table, the nine MLB teams currently under contract with Main Street have decided to terminate their contracts, according to a report by Evan Drellich in The Athletic. Earlier reporting indicated that a potential purchase by DAZN was the only way the FanDuel Sports Networks could remain operational past the current NBA and NHL seasons.
The Atlanta Braves, Cincinnati Reds, Detroit Tigers, Kansas City Royals, Los Angeles Angels, Miami Marlins, Milwaukee Brewers, St. Louis Cardinals and Tampa Bay Rays are the nine MLB clubs currently inked to deals with Main Street.
Per Drellich, “By exiting their existing contracts, the MLB teams are attempting to safeguard themselves from the possibility Main Street files for bankruptcy, which would limit how clubs that hold contracts with Main Street could maneuver.”
According to a separate report by Sports Business Journal, Main Street is expected to make revised offers to the nine teams on Friday in an effort to “coerce” them to return.
MLB commissioner Rob Manfred told reporters on Thursday that the league is prepared to take over production of local broadcasts if necessary, as it has already done for six teams outside of the Main Street umbrella.
“Our focus, particularly given the point in the calendar, is to maximize the revenue that’s available to the clubs, whether that’s MLB Media or third party,” the Associated Press reported. “The clubs have control over the timing. They can make a decision to move to MLB Media because of the contractual status now. I think that what’s happening right now clubs are evaluating their alternatives. Obviously, they’ve made significant payroll commitments already and they’re evaluating the alternatives to find the best revenue source for the year and the best outlet in terms of providing quality broadcasts to their fans.”
The nine clubs will now weigh their options, be that joining MLB’s media arm, striking a deal with another regional sports network, joining a local over-the-air affiliate, creating or joining a streaming platform, or a combination of multiple options.
As for Main Street, it appears the biggest question remaining is whether or not the company will remain operational through the end of its NBA and NHL commitments this season. Both leagues are taking measures to prepare for if the company shutters mid-season.
About Drew Lerner
Drew Lerner is a staff writer for Awful Announcing and an aspiring cable subscriber. He previously covered sports media for Sports Media Watch. Future beat writer for the Oasis reunion tour.