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Speaker 1: On Wednesdays.

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Speaker 2: At this time, we talked sports and money with someone

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Speaker 2: who is an expert on one of those things and

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Speaker 2: a fan of the other, our friend Amy Wagner from

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Speaker 2: Dean Dorton Private Wealth.

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Speaker 1: She's a wealth advisor.

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Speaker 2: To learn more about the Dean Dorton difference at Deandorton

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Speaker 2: dot com.

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Speaker 1: Amy High Hi.

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Speaker 3: I would say I am an expert on any kind

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Speaker 3: of sports when I'm watching it and I have big

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Speaker 3: opinions on it, Like I feel like the Bengals should

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Speaker 3: have probably called me on Sunday and I might have

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Speaker 3: made a few different calls.

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Speaker 1: I would have been okay with that.

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Speaker 3: I think I am an expert, but I'm not, so

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Speaker 3: I will leave that to you.

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Speaker 2: You're all excited about Kentucky basketball again because they beat out.

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Speaker 4: We did one good win. We needed that win.

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Speaker 2: We must be nice. Must be nice. From where I sit,

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Speaker 2: that sounds awesome.

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Speaker 4: It's been a while since you've gotten to talk about

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Speaker 4: it winning team. I understand that.

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Speaker 2: Uh you know, I know you don't care. But I

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Speaker 2: have the NBA Cup champion New York Knicks in my life.

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Speaker 4: That's true.

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Speaker 1: Yes, full disclosure.

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Speaker 3: I used to call you and complain when you talked

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Speaker 3: about the NBA.

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Speaker 4: I guess I would think no one here cares about

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Speaker 4: the NBA.

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Speaker 3: And now I have a son who's sixteen, who actually,

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Speaker 3: you know, all the collegiate players that we've watched for years,

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Speaker 3: especially Kentucky, are now in the NBA, and I actually

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Speaker 3: very much enjoy it. So I will publicly now say

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Speaker 3: all of the time that I gave you a really

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Speaker 3: hard time.

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Speaker 4: Now I'm actually on bored. And I love when you talk.

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Speaker 1: About we have Karl Anthony Towns.

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Speaker 4: I love him, I know, I know. So there you go.

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Speaker 2: All right, let's talk about And this was actually not

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Speaker 2: the case in the NBA Cup games in Vegas because

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Speaker 2: tickets were pretty cheap. But this is something you and

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Speaker 2: I have talked about, and it's something that's really going

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Speaker 2: to hit home for folks who want to go watch

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Speaker 2: World Cup matches in the United States. But the increasing

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Speaker 2: cost and this is never ending and I see no

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Speaker 2: end in sight, but the increasing cost of being a

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Speaker 2: sports fan and specifically attending.

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Speaker 4: Games, well, I think you have to look at this

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Speaker 4: in two ways.

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Speaker 3: Right, there are professional sports, and then there are collegiate

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Speaker 3: sports that are now professional supports, right, and so they

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Speaker 3: are struggling with a new business model that they're not

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Speaker 3: yet keeping up with, right. So we'll get to that

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Speaker 3: in a moment, But let's start with the World Cup,

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Speaker 3: right because North American World Cup, right, so there will

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Speaker 3: be games, you know, Canada, Mexico, US are hosting, and

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Speaker 3: then they release ticket prices and everyone's like, well, who

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Speaker 3: can actually afford to go to it? So there are

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Speaker 3: fans of an English football club who actually did the

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Speaker 3: math and said, okay, if our team were to make

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Speaker 3: it all the way through.

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Speaker 4: It would cost us seven thousand.

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Speaker 3: Dollars in tickets alone for one person to attend the

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Speaker 3: World Cup from beginning to end, obviously exorbitant.

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Speaker 4: You add travel costs, food, everything.

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Speaker 3: Else on top of that, like sports are who can

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Speaker 3: afford those things now? And so the response from FIFA,

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Speaker 3: which I thought was interesting, was we will.

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Speaker 4: Release some affordable tickets.

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Speaker 3: There will be sixty dollars tickets available also, maybe a

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Speaker 3: few hundred of those. It like comes back to Black

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Speaker 3: Fridays of past where they're offering a two thousand inch

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Speaker 3: TV for twenty two dollars and everyone lines up for

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Speaker 3: days to get that and there's actually two of them, right,

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Speaker 3: Like it's a little bit like that. It's like we're saying,

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Speaker 3: we hear you, and we want to make these these

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Speaker 3: games affordable for actual fans. And the only people who

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Speaker 3: will have access to the more affordable tickets are those

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Speaker 3: that those football clubs deem loyal fans.

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Speaker 4: So you're not going to get on stub Hub and

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Speaker 4: find them there.

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Speaker 3: You know, you'll get them through your club, but there

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Speaker 3: will be a very very small amount.

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Speaker 4: Of those tickets that are affordable.

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Speaker 3: And it's a shame. And you know, I think one

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Speaker 3: thing you have to think about, too.

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Speaker 5: Is the US is trying to grow interest in this

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Speaker 5: sport here, and so if you're trying to get win

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Speaker 5: people over to say come to this game, we think

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Speaker 5: you're really going to enjoy this.

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Speaker 3: By the way, it's two thousand dollars, you know. I mean,

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Speaker 3: that's a tough style. So I think we'll see how

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Speaker 3: this plays out. But when I think about inflation over

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Speaker 3: the past few years, one of the biggest things that

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Speaker 3: comes to mind is just sports. I mean, it was

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Speaker 3: not that long ago that maybe tickets felt like a

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Speaker 3: little bit of a stretch, but now they're almost unaffordable.

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Speaker 2: Yeah, And I think you can apply that to entertainment

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Speaker 2: as a whole. I guess what gets me is I'm

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Speaker 2: driving down seventy five and there was a local professional

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Speaker 2: sports franchise that was touting fee free tickets. If you

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Speaker 2: buy tickets this week, no fees. Why don't you just

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Speaker 2: get rid of the fee entirely right, you're telling me

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Speaker 2: the fee isn't necessary. If I buy this one time

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Speaker 2: a year, you're not going to give me the fee.

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Speaker 2: But the rest of the time, well, that fee is

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Speaker 2: really necessary.

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Speaker 3: They're drawing attention to the fees that most people weren't paying.

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Speaker 2: Attentions almost my thing, like, just just up front, tell

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Speaker 2: me what the call is going to be, tell me

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Speaker 2: what I'm going to have to pay.

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Speaker 1: There was an app.

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Speaker 2: I went to an NBA playoff game this past May,

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Speaker 2: and we bought tickets pseudo last minute. It was nick Pacers,

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Speaker 2: And I don't remember what the app was because my

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Speaker 2: buddy got the tickets, but he's like, here's what they are.

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Speaker 2: And what I loved about it was it had all

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Speaker 2: the fees included a little bit easier to swallow.

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Speaker 1: That's what bothers me.

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Speaker 2: But it's also like you buy the tickets, it's the

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Speaker 2: parking it's them. I mean it just I have a

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Speaker 2: daughter and she and I go to Reds games, and

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Speaker 2: I think Reds games are for the most part, reasonably affordable.

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Speaker 2: I don't know how families afford do it. I don't

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Speaker 2: know how families afford do NFL games. I don't have

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Speaker 2: families afford do NBA games. Oh, families afford to do

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Speaker 2: college football games.

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Speaker 3: I was actually thinking about the Reds on my way

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Speaker 3: to the studio today and the fact that you know,

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Speaker 3: we all have memories growing up, precious memories going to

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Speaker 3: Reds games with grandparents in our own parents. I know

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Speaker 3: you've got beautiful stories and the memories of that.

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Speaker 4: You've got one daughter.

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Speaker 3: What if you had three or four and you were

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Speaker 3: taking everyone to the game, and by the way, they

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Speaker 3: wanted a hot dog, and they wanted ice cream, and

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Speaker 3: they want a coke, right like then it becomes out

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Speaker 3: of the realm of the way that all of us

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Speaker 3: grew up going.

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Speaker 4: And I think it's a shame.

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Speaker 3: And you know, I mentioned collegiate sports, and I think

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Speaker 3: that's also worth a mention here because over the past

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Speaker 3: few years.

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Speaker 4: Now that we have nil money in that space, we

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Speaker 4: now have collegiate sports that are professional sports.

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Speaker 3: And I don't know that the business structure has caught

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Speaker 3: up yet with this new reality. And so and I

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Speaker 3: think you know, here's just one case in Point So,

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Speaker 3: Florida State recently redid their football stadium.

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Speaker 4: There is a family that has been going.

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Speaker 3: For generations to every game. They have season tickets, they

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Speaker 3: all tailgate. Now they're saying, first of all, we can

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Speaker 3: hardly even afford the parking anymore for the tailgate. As

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Speaker 3: someone who has kids at the University of Kentucky, I

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Speaker 3: can tell you that parking in a parking lot in

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Speaker 3: Lexington on game day this year for Parents Weekend, you

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Speaker 3: could not touch a parking spot for under two hundred dollars,

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Speaker 3: especially parking spots.

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Speaker 4: It is absolutely insanity.

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Speaker 3: So these Florida State fans who have been fans for

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Speaker 3: centuries are now saying, listen, like we cannot or for decades,

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Speaker 3: we cannot even afford this anymore. Florida State recently redid

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Speaker 3: their stadium. They got rid of twelve thousand seats. Do

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Speaker 3: you want to guess what They replaced many of those

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Speaker 3: seats with, uh, sweets, luxury boxes. Of course I'd money

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Speaker 3: off of the luxury boxes. Then Moeggar and Amy Wagner

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Speaker 3: are paying to be in the nosebleeds, right, and so

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Speaker 3: this trend toward how can we finance a team that

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Speaker 3: we're paying people for you know, I mean I was

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Speaker 3: thinking about it earlier.

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Speaker 4: You were talking about my UKYL Cap basketball team.

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Speaker 2: Right.

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Speaker 3: For the first time ever has part of the conversation

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Speaker 3: been this is a twenty two million dollar roster that

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Speaker 3: cannot win, you.

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Speaker 4: Know, like it used to be when I was growing up.

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Speaker 3: This is a team with two McDonald's, all Americans, and

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Speaker 3: how are they not winning? You know, you would talk

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Speaker 3: about their cidentials for college you from high school.

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Speaker 4: You would not be talking about how.

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Speaker 3: Much they're making to play college basketball. So, you know,

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Speaker 3: these colleges have intense pressure to win, to be able

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Speaker 3: to attract top athletes, to be able to attract top coaches.

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Speaker 3: Now we've got this crazy Mirry go round of coaches

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Speaker 3: coming and going and teams having to pay out tens

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Speaker 3: of millions of dollars to coaches that they've let go.

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Speaker 3: We just haven't figured this out, and the loser and

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Speaker 3: all of this time and time again is.

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Speaker 4: Really going to be the fan.

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Speaker 2: Yeah, there's similar to the Florida State family you're talking about.

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Speaker 2: I've read pieces, and not just here, but I've read

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Speaker 2: pieces where folks are they're college football fans or they're

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Speaker 2: college basketball fans of a certain school, and so they

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Speaker 2: have to make a donation. The donation gives you the

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Speaker 2: right to buy tickets. But if you want to buy tickets,

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Speaker 2: and look, youc used to do this in the nineties.

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Speaker 2: If you wanted basketball tickets, you had to buy football tickets. Now,

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Speaker 2: you know, you have schools that are saying, well, if

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Speaker 2: you want men's basketball tickets, we need you to buy

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Speaker 2: some volleyball tickets and some women's basketball tickets and nothing

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Speaker 2: again those programs. You want those programs to thrive, But like, hey, look,

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Speaker 2: I just want to go to fifteen to eighteen men's

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Speaker 2: college basketball games. Yeah, I don't want to have to

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Speaker 2: pay for this other stuff that I'm not that interested in.

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Speaker 2: And yet that's happening around the country.

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Speaker 3: Yeah, and I think it's just becoming more and more

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Speaker 3: difficult to support the teams that we love, and then

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Speaker 3: it becomes I'm.

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Speaker 4: Watching it from home.

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Speaker 3: And if you want to bring everything full circle, now

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Speaker 3: you have to have seventeen subscription services and It's funny

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Speaker 3: because my husband the other day said, wait, there's games

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Speaker 3: on Christmas Day, and I was like, well, obviously you

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Speaker 3: don't listen to MONI we've been talking about. Yeah, we've

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Speaker 3: been talking about which subscriptions you have to have in

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Speaker 3: order to watch those particular games. So, yeah, it's getting

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Speaker 3: more and more frustrating, you know, and then you throw

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Speaker 3: in that we're Bengals fans even watch a team.

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Speaker 4: That can you know, pull off a.

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Speaker 3: Win, you know, in the best of circumstances, and you know,

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Speaker 3: it's harder and harder than to sell us on you know,

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Speaker 3: paying for parking and season tickets and things like that.

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Speaker 1: One more story I want to ask you about.

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Speaker 2: So I read in The Athletic this week that there's

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Speaker 2: going to be this capital partnership with the Big Twelve,

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Speaker 2: with Big Twelve schools that could funnel as much as

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Speaker 2: thirty million dollars to each school. Now, as a UC

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Speaker 2: fan that my ears perked up. I'm told this is

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Speaker 2: different than private equity. So what is a capital partnership

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Speaker 2: and what might this mean for me? A frustrated Bearcat fan,

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Speaker 2: but a Bearcat fan.

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Speaker 3: Nonetheless, this is private equity under another name.

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Speaker 4: I want to be clear about that.

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Speaker 3: The difference is initially private equity was striking these deals

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Speaker 3: with these conferences, right, and so this is allowing each

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Speaker 3: individual school to opt in to unleash or tap this

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Speaker 3: capital that they would then be able to use. You know,

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Speaker 3: a rose by any other name still a rose, right,

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Speaker 3: It is still the same thing. The difference now is

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Speaker 3: that each school can choose whether to opt it or not.

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Speaker 3: And I think a lot of schools kind of came

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Speaker 3: to the table with their conference and said, we have

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Speaker 3: huge reservations about what this means when you have an

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Speaker 3: investor putting this much money in expecting this amount of return.

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Speaker 4: What kind of voice are they going to have and

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Speaker 4: how we run this program? And so now the schools

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Speaker 4: can individually choose to opt in. Here's my prediction.

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Speaker 3: Okay, they will wait for one school to tiptoe in,

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Speaker 3: They'll give it a few months, and then everyone will

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Speaker 3: opt in at some point because listen, you know, with

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Speaker 3: the latest settlement, each school is on the hook for

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Speaker 3: what twenty and a half million dollars to pay into

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Speaker 3: the ANIOL pot on back pay, they're having to pay

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Speaker 3: these rosters, They're having to pay exorbitant coaches fees.

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Speaker 4: And you know what I think.

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Speaker 3: Also, one other piece of this is alumni tapped out. Yes, fatigue, fatigue, right,

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Speaker 3: like when you're having to you're going back to the

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Speaker 3: same till every time, time and again they're done. So

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Speaker 3: this is a new source of income available to these teams.

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Speaker 4: We don't know what kinds of strings will be attached.

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Speaker 4: We don't know yet at what this looks like.

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Speaker 3: This is brand new right in the sports space, private

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Speaker 3: equity and collegiate sports space. So I can't even begin

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Speaker 3: to predict what the outcome will be, except that I

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Speaker 3: know that there's so much competition that someone will tiptoe

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Speaker 3: in and everyone else will I think follow in short order.

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Speaker 1: That that makes sense.

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Speaker 2: Yeah, I've heard from donors at a few area schools

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Speaker 2: here who are like done, like just and it doesn't

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Speaker 2: help when the teams aren't winning to the degree that

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Speaker 2: they would like.

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Speaker 3: Yeah, well, you love your program, you have all you

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Speaker 3: want to see them be successful, but at some point

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Speaker 3: you're like, I also have grandkids, you.

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Speaker 1: Know, or whatever.

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Speaker 3: It is, like even the wealthiest families are doing legacy planning, right,

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Speaker 3: so you know, when you look at a report throwing

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Speaker 3: good money after bad.

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Speaker 4: You know, at some point, I think for some families

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Speaker 4: it starts to feel that way.

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Speaker 2: Deandortonwealth dot Com. Amy Wagner, Wealth Advisor from Dean Dorton.

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Speaker 2: Learn more about the Dean Dorton Difference. Awesome to have you.

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Speaker 2: I uh, we're done for the year. Yeah, well this

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Speaker 2: is my last Wednesday show year, So have a great Christmas,

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Speaker 2: an awesome new year, and awesome to have you a

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Speaker 2: part of our show here at the back aff at

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Speaker 2: twenty twenty five.

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Speaker 4: Always happy to be with you.

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Speaker 1: Hi, Thank you so much.

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Speaker 2: Amy Wagner, Deandortonwealth dot Com. I am going to try

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Speaker 2: to answer the question of the off season for the Bengals.

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Speaker 2: Richard Skinner is going to join us, and things are

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Speaker 2: not going very well right now for our area professional

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Speaker 2: football team. Zach Taylor today may have made it worse.

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Speaker 2: We'll get to that coming up in about ten minutes

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Speaker 2: on ESPN fifteen thirty, Cincinnati Sports Station