The St. Louis Cardinals and Diamond Sports Group have announced a new multi-year media rights agreement. This deal keeps Diamond as the team's exclusive local broadcaster while significantly expanding access for fans. A key element is the addition of direct-to-consumer streaming options.
According to Cardinals President Bill DeWitt III, this agreement results in a roughly 20% reduction in rights fees compared to previous contracts. This cost-saving measure is noteworthy given Diamond Sports Group's recent financial challenges.
FanDuel Sports Network Midwest (formerly Bally Sports Midwest and Fox Sports Midwest) will continue to broadcast Cardinals games not shown nationally. The network will also continue its comprehensive coverage, including pre- and post-game shows and original programming. This consistent broadcast partnership provides continuity for fans.
A major change is the introduction of direct-to-consumer streaming within the Cardinals' television territory. Pay TV subscribers will also be able to stream games via the FanDuel Sports Network app using their provider login details. Specific pricing and subscription information for the standalone streaming service will be released later.
“We valued the continuity for our fans of staying on the same network as the Blues,” DeWitt stated, highlighting the importance of consistent viewing experience for the team's supporters.
Diamond Sports Group CEO David Preschlack confirmed that negotiations are ongoing with other MLB teams as the company works to emerge from bankruptcy protection. The Cardinals agreement signals positive progress in these efforts.
This agreement comes amidst Diamond Sports Group's extensive restructuring. After filing for Chapter 11 bankruptcy protection in March 2023 due to revenue losses from dwindling cable subscriptions, the company has been actively reviewing and adjusting its partnerships. Diamond originally acquired its regional sports network portfolio from Disney in 2019 for a substantial $10.6 billion through its parent company, Sinclair Broadcast Group.
The Cardinals' partial ownership stake in FanDuel Sports Network Midwest through a joint venture kept this relationship separate from Diamond's bankruptcy proceedings. This unique structure allowed for smoother negotiations and a swift resolution.
Diamond’s remaining MLB team deals will be re-evaluated in November, as part of the company’s bankruptcy exit plan. Sinclair Broadcast Group is poised to completely disengage from the regional sports networks after court approval.