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NBA Teams Scramble for New TV Deals Amid FanDuel Collapse
Description
The Cleveland Cavaliers and twelve other NBA teams, along with seven NHL teams, are scrambling to secure new local TV deals after FanDuels regional sports networks shut down. The NBAs planned streaming package is delayed, forcing teams to seek one-year stopgap deals. These deals are expected to cost under ten million dollars per team. Teams are considering local over-the-air stations or starting their own networks. Despite not receiving media rights cash this year, teams may recover up to sixty percent from creditors once dissolution deals are inked. The LA Kings have secured their deal with FanDuel, while the NBAs shift to streaming control accelerates.
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