The St. Louis Cardinals have officially signed a new broadcasting agreement with Diamond Sports Group, ensuring that their games will continue to be aired on the newly rebranded FanDuel Sports Network Midwest. This multi-year deal comes after Diamond Sports faced bankruptcy challenges and is set to enhance fan access to games through a direct-to-consumer streaming option.
Key Takeaways
The Cardinals will continue broadcasting on FanDuel Sports Network Midwest.
A direct-to-consumer streaming option will be available for fans.
The deal includes a pay reduction of approximately 25% for 2025 compared to the previous contract.
Diamond Sports Group is currently undergoing Chapter 11 bankruptcy proceedings.
New Broadcasting Agreement Details
The Cardinals announced the new deal in a press release, highlighting the importance of maintaining continuity for fans by staying on the same network as the St. Louis Blues. Cardinals President Bill DeWitt III expressed excitement about expanding access to games and other content across multiple platforms.
The previous broadcasting deal, a 15-year contract worth over $1 billion, was signed in 2018 with Fox Sports Midwest. Following the acquisition of the local Fox Sports networks by Diamond Media Group in 2019, the network was rebranded as Bally Sports Midwest and now as FanDuel Sports Network Midwest.
Financial Implications
While the financial specifics of the new deal were not disclosed, it is known that the Cardinals will experience a pay reduction of about 25% in 2025 compared to their previous agreement. This reduction comes as part of a broader trend affecting many MLB teams amid the challenges faced by Diamond Sports Group.
Streaming Rights and Fan Access
For the first time, the Cardinals will offer a direct-to-consumer streaming option, allowing fans to watch games without needing a traditional cable subscription. This move is expected to significantly enhance accessibility for fans who have cut the cord or whose providers have dropped the network. The pricing details for the streaming service have yet to be announced.
DeWitt emphasized the importance of this new streaming option, stating, "We have a lot of fans who would like to get our games but can’t. Now a direct-to-consumer product really helps us with our distribution and our reach."
Diamond Sports Group’s Bankruptcy Situation
Diamond Sports Group has been navigating Chapter 11 bankruptcy since March 2023, with a significant debt of $8.67 billion. The company has been in discussions with various MLB teams regarding their broadcasting rights as it seeks to emerge from bankruptcy. A final hearing on Diamond’s reorganization plan is scheduled for November 14.
The Cardinals’ new deal is part of a larger strategy to ensure that they remain competitive and accessible to their fan base, even as the sports broadcasting landscape continues to evolve. DeWitt noted that the Cardinals chose to stick with Diamond rather than explore alternative broadcasting options, citing the stability and brand recognition associated with the network.
Conclusion
The new broadcasting deal between the St. Louis Cardinals and Diamond Sports Group marks a significant step in enhancing fan engagement and accessibility. With the introduction of a direct-to-consumer streaming option, the Cardinals are poised to reach a broader audience while navigating the complexities of the current sports media landscape.
