If done properly, it would sound great. They would need to have a stereo
enabled board at the remote site, that includes pan pots on each input channel.
The entire air chain would also have to be wired in stereo, including the
link back to the studio, as well as the link from the studio to the transmitter.
If properly adjusted, the virtual position of each announcer (play-by-play,
color, etc.) can be established. You would also need microphones scattered
throughout the stadium, sufficiently apart to accurately reproduce the crowd (wild)
sounds. It would help to have several sub-masters for each grouping of inputs used.
Unfortunately, stereo sound is often mishandled.
Take a network talk show, for example. The host would be established as mostly right channel,
the guest as mostly left. Multiple guests would be further segregated out as to their
respective positions on the couch. All too often the people are, basically, in mono,
while the band is in true stereo...
Play ball!