Recent reports indicate that FanDuel Sports Network, one of the biggest regional sports networks remaining in the traditional media market, is at serious risk of bankruptcy. Without getting too deep into the weeds of corporate restructuring and renaming practices, FanDuel was formerly known as Bally Sports Network before their parent company (Diamond Sports Group, now known as Main Street Sports Network) declared bankruptcy and restructured a little under a year ago. Despite a new sponsor (FanDuel) and numerous regional broadcast deals with MLB, NHL, and NBA teams, including the Brewers, the company is again at risk of folding. This time, restructuring won’t save them.
So, why is FanDuel Sports Network at risk of folding?
The economics of FanDuel Sports Network, like other regional sports networks (RSNs), have been deeply affected by the rise of streaming. Back in the day, RSNs were included as part of basic cable television subscriptions. Most subscribers in any given media market had to pay for these channels whether or not they watched sports. Now, with the rise of pay-for-what-you-watch options (for example, YouTube TV), these channels have by and large become add-ons that consumers have to pay extra for. For sports fans who watch most games, paying extra to be able to watch their team’s games is undoubtedly worth it. That’s not necessarily true of the casual fan, which has slowly led to a decline in economic viability for these RSNs.
Is there any path forward for FanDuel Sports Network?
FanDuel Sports Network’s seemingly imminent bankruptcy first became apparent this month when the network missed a December payment to the St. Louis Cardinals. Per reports, FanDuel Sports Network is attempting to pursue a “last-ditch” sale to British multimedia company DAZN. DAZN is by-and-large a streaming company, which means that Brewers fans would have to instead subscribe to DAZN to be able to watch Brewers games (since FanDuel Sports Network still retains the rights to broadcast games in the Milwaukee media market). This would be the simplest option and would keep the economics roughly the same.
However, there’s a chance that DAZN decides it’s not worth the headache to acquire Fan Duel Sports Network. If the deal falls through, then FanDuel Sports Network would, per Sports Business Journal, “wind down and dissolve.”
If FanDuel Sports Network does indeed cease to exist, who gets the rights to broadcast Brewers games locally?
The short answer is: If FanDuel Sports Network dissolves, then broadcast rights will revert to the teams. This is simpler in theory than in practice.
FanDuel Sports Network retains the rights to broadcast NBA games, and the NBA is currently in the middle of its season. While FanDuel has said that they will complete the NBA season no matter what, NBA teams are reportedly preparing for a mid-season closure anyway. This would be a veritable disaster, since each NBA team would then have to scramble to find a local broadcasting partner in the middle of the season.
The implications of a January 2026 dissolution wouldn’t be nearly as wide-reaching for MLB teams, who would still have a couple of months to find a new media deal. Per The Athletic’s Evan Drellich, “ESPN would wind up carrying additional MLB teams on top of the six it already has.” If FanDuel Sports Network dissolves, ESPN could wind up as the home of the Milwaukee Brewers for the 2026 season.
Another potential scenario would see the Brewers’ broadcast rights sold to the league office. Major League Baseball already announced earlier this offseason that their MLB.TV service will solely be available for purchase through ESPN starting in 2026, so the solution could be a combination of both.
The problem with this is that Milwaukee might get significantly less for their streaming rights from MLB/ESPN than they would from a traditional RSN. RSNs used to have the money to pay up for MLB broadcast rights because, as mentioned above, most subscribers in their media market had to pay for these channels whether or not they watched sports. MLB/ESPN’s streaming service is subsidized through subscriptions, and nobody who doesn’t watch baseball is going to pay to only watch baseball. This theoretically limits the amount of money that the Brewers organization would receive for both their broadcast rights and revenue.
A potential solution would be restructuring the league’s revenue sharing agreement to prop up smaller-market teams like the Brewers, which obviously wouldn’t be supported by larger market teams (Yankees, Dodgers, etc.). Said revenue sharing agreement was reached under the league’s current collective bargaining agreement (CBA). However, the CBA doesn’t expire until December 2026, which may present another obstacle for teams like the Brewers this season. Major League Baseball is already struggling with parity — the death of FanDuel Sports Network might only make things worse.
