The St. Louis Cardinals have been hit with another curveball this offseason - and this one’s coming off the field. As the team looks to rebound from a tough stretch on the diamond, they’re now facing a major financial setback tied to one of their most critical revenue streams: their television rights deal.
According to sources, the Cardinals are set to receive around $20 million from their new broadcasting arrangement with Major League Baseball. That figure is a steep drop - $40 million less than what they were expecting from their previously planned deal with Main Street Sports Group, the parent company of FanDuel Sports Network.
And if you rewind the tape a little further, the picture gets even bleaker. That FanDuel deal itself was already a $15 million drop from their former agreement with Bally Sports, which had been worth $75 million annually.
Let’s put that into perspective: in just a few short years, the Cardinals have seen their TV revenue fall by 73%. For a franchise that’s long been considered one of baseball’s most stable and successful - both competitively and financially - that’s a staggering decline.
This all started unraveling after the 2023 season, when Diamond Sports Group - the parent company of Bally Sports Midwest - filed for bankruptcy. That move sent shockwaves through the regional sports network (RSN) landscape and left teams like the Cardinals scrambling to figure out how their games would be broadcast, and more importantly, how much money they’d be making from it.
Initially, St. Louis pivoted to a new plan: a partnership with Main Street Sports Group to air games on FanDuel Sports Network.
The model was a mix of traditional cable and a subscription-based streaming option - an effort to modernize distribution while still reaching their loyal fanbase. But when Main Street’s own future became uncertain over the summer, the Cardinals were forced to pivot once again.
That led them to Major League Baseball itself, which stepped in to take over the broadcast responsibilities. While this move provides some stability in the short term, it also comes with a much smaller payday. And that’s where the long-term implications start to come into focus.
This isn’t just a Cardinals problem - it’s a league-wide issue that’s likely to take center stage in the next collective bargaining agreement. The financial gap between big-market powerhouses like the Dodgers and Yankees and teams in mid-sized markets like St.
Louis is widening fast. The RSN model, once a reliable cash cow for many franchises, is crumbling under the weight of cord-cutting, streaming fragmentation, and corporate bankruptcies.
For the Cardinals, the drop in revenue could have real consequences. That’s money that would typically go toward player payroll, front office resources, and long-term investments in the organization. And while the team has historically been smart and efficient with its spending, a $55 million swing in annual TV revenue is hard to ignore.
The broader question now is what the future of baseball broadcasting looks like. MLB stepping in as a direct broadcaster might be the new norm, especially if more RSNs fall by the wayside. But unless there’s a way to recoup that lost revenue - either through new digital platforms, league-wide revenue sharing, or a revamped broadcast model - teams like the Cardinals could find themselves at a growing disadvantage.
This offseason has already been filled with big headlines around free agent signings and roster moves. But make no mistake: the financial future of the sport is being reshaped just as dramatically behind the scenes. And for the Cardinals, a franchise that’s built its identity on consistency and competitiveness, navigating this new media landscape may be just as important as anything they do between the lines.