1 00:00:00,520 --> 00:00:04,240 Speaker 1: This is Bloomberg Business of Sports. The cold heart truth 2 00:00:04,280 --> 00:00:07,880 Speaker 1: about the Olympic journey is not really been financially incentivize 3 00:00:08,000 --> 00:00:10,480 Speaker 1: in the same way that many of the professional sports are. 4 00:00:10,760 --> 00:00:14,480 Speaker 1: This is a basketball involved nb A, Blivills are licensing 5 00:00:14,560 --> 00:00:17,360 Speaker 1: arm think for fifty. All of those things will make 6 00:00:17,440 --> 00:00:20,040 Speaker 1: up what that looks like money in sports. It's one 7 00:00:20,040 --> 00:00:22,720 Speaker 1: of the reasons why I enjoy the money that I countdown. 8 00:00:22,760 --> 00:00:25,000 Speaker 1: Let's talk about some of the more interesting aspects of 9 00:00:25,160 --> 00:00:28,319 Speaker 1: business of sports. When you're talking sports, discipline is the 10 00:00:28,400 --> 00:00:31,880 Speaker 1: bridge from being good to ultimately being great at whatever 11 00:00:31,920 --> 00:00:34,199 Speaker 1: it is that you're trying to be your accomplished as 12 00:00:34,240 --> 00:00:39,680 Speaker 1: your profession. Bloomberg Business of Sports from Bloomberg Radio. This 13 00:00:39,840 --> 00:00:42,440 Speaker 1: is the Bloomberg Business of Sports show, where we explore 14 00:00:42,479 --> 00:00:45,080 Speaker 1: the big old money issues in the world of sports. 15 00:00:45,159 --> 00:00:47,760 Speaker 1: I'm Michael Block, I'm Scarlett. Lots of money issues to 16 00:00:47,760 --> 00:00:52,640 Speaker 1: talk about this week. My goodness today the Live Golf Series, Oh, 17 00:00:52,680 --> 00:00:55,440 Speaker 1: my goodness, we got the p g A. They're gonna 18 00:00:55,560 --> 00:00:59,200 Speaker 1: raise their funds because it's like, hey, wait, don't leave, 19 00:00:59,200 --> 00:01:01,360 Speaker 1: We're gonna put some more money in there. And then 20 00:01:01,400 --> 00:01:05,760 Speaker 1: the Women's Golf Tour they're gonna add more money in that. Also. Uh, 21 00:01:05,800 --> 00:01:07,560 Speaker 1: we got a lot to talk about here. Let's so 22 00:01:07,640 --> 00:01:10,319 Speaker 1: let's start with that first of all. Let's let's put 23 00:01:10,319 --> 00:01:14,480 Speaker 1: it this way. Brooks Keptah, he went to leave the 24 00:01:14,520 --> 00:01:17,920 Speaker 1: tour at PGA Tour and he is going to the 25 00:01:17,959 --> 00:01:22,880 Speaker 1: Live Golf Series. Now, okay, that's your decision. That's that's 26 00:01:22,880 --> 00:01:27,240 Speaker 1: your thing. That's cool. He sees the green, all right. 27 00:01:27,360 --> 00:01:31,039 Speaker 1: There you go. The week before that, when he was 28 00:01:31,120 --> 00:01:34,400 Speaker 1: playing in the US Open and they asked him about 29 00:01:34,840 --> 00:01:38,480 Speaker 1: the Live Golf Series, you know, he gave us a 30 00:01:38,560 --> 00:01:43,480 Speaker 1: talking to as the media it's like criticized reporters. Here's 31 00:01:43,520 --> 00:01:46,520 Speaker 1: what he said. I'm here at the US Open. I'm 32 00:01:46,520 --> 00:01:49,640 Speaker 1: ready to play the US Open. And I think it 33 00:01:49,800 --> 00:01:52,440 Speaker 1: kind of sucks too that you are all throwing this 34 00:01:52,680 --> 00:01:56,240 Speaker 1: black cloud over the US Open. It's one of my 35 00:01:56,360 --> 00:01:59,720 Speaker 1: favorite events. I don't know why you guys keep doing that. 36 00:02:00,040 --> 00:02:03,360 Speaker 1: The more legs you give the Live Golf Series, the 37 00:02:03,440 --> 00:02:06,240 Speaker 1: more you keep talking about it. Now, that was last 38 00:02:06,280 --> 00:02:08,560 Speaker 1: week interesting that he called it a black cloud, which 39 00:02:08,639 --> 00:02:13,280 Speaker 1: she's now, Yeah, we have a saying in our old neighborhood, 40 00:02:13,880 --> 00:02:16,880 Speaker 1: how are you gonna play me? Man? Well, you know 41 00:02:16,919 --> 00:02:21,680 Speaker 1: what that was that week. Now it's and you know 42 00:02:21,760 --> 00:02:24,000 Speaker 1: he's not the only one, right because you've got Abraham Answer, 43 00:02:24,040 --> 00:02:27,480 Speaker 1: who's ranked twenty in the world. Uh, joining Brooks and 44 00:02:27,639 --> 00:02:30,920 Speaker 1: of course Greg Norman and Phil Mickelson. So Live Golf 45 00:02:30,919 --> 00:02:33,160 Speaker 1: has now signed eight of the top fifty players in 46 00:02:33,160 --> 00:02:36,640 Speaker 1: the world. Um, they're getting momentum. Certainly it's a civil 47 00:02:36,680 --> 00:02:40,600 Speaker 1: war in the sport of golf. My exaggerating here, No, 48 00:02:40,800 --> 00:02:44,040 Speaker 1: I'm laughing because of Colin Moore cow He sent a 49 00:02:44,040 --> 00:02:46,440 Speaker 1: tweet out because they've asked him, Hey, you're gonna enjoin 50 00:02:46,480 --> 00:02:49,680 Speaker 1: the Live Tour, and this is the tweet the state 51 00:02:49,760 --> 00:02:53,480 Speaker 1: for the record, once again, you are all absolutely wrong. 52 00:02:53,639 --> 00:02:57,079 Speaker 1: I've said it since February at Riviera that I am 53 00:02:57,200 --> 00:02:59,880 Speaker 1: here to stay on the p g A Tour and 54 00:03:00,080 --> 00:03:03,760 Speaker 1: nothing has changed here now now, if you will excuse me, 55 00:03:04,160 --> 00:03:08,519 Speaker 1: I've got some cereal to pour in my milk. So 56 00:03:08,760 --> 00:03:11,280 Speaker 1: I guess for right now he's not going to go anywhere. 57 00:03:11,280 --> 00:03:14,160 Speaker 1: And hey, listen, if you do what you think, this 58 00:03:14,160 --> 00:03:17,840 Speaker 1: this is the world that we live in more, you know, 59 00:03:18,000 --> 00:03:21,680 Speaker 1: do whatever you want, and you know what's the deal 60 00:03:21,960 --> 00:03:24,360 Speaker 1: of going to it? You know, the Live Tour and 61 00:03:24,440 --> 00:03:27,560 Speaker 1: all the backlash but you know, maybe there isn't that 62 00:03:27,639 --> 00:03:31,919 Speaker 1: much backlash insofar as uh, the U S Open players 63 00:03:31,919 --> 00:03:33,760 Speaker 1: who are playing on the live tour can still play 64 00:03:33,760 --> 00:03:35,720 Speaker 1: in the U S Open, right because that's not a 65 00:03:35,760 --> 00:03:39,560 Speaker 1: PGA Tour jurisdiction. The British Open you can also participate 66 00:03:39,560 --> 00:03:42,080 Speaker 1: as well, so maybe you can have your cake and 67 00:03:42,120 --> 00:03:44,920 Speaker 1: eat it too. My question here is, I mean this 68 00:03:45,000 --> 00:03:47,040 Speaker 1: is I made the reference to a civil war in 69 00:03:47,080 --> 00:03:50,560 Speaker 1: the sport. What happens next? How does this end? Because 70 00:03:50,560 --> 00:03:53,520 Speaker 1: the PGA Tour is being outspent and it feels like 71 00:03:53,600 --> 00:03:57,600 Speaker 1: being outmaneuvered here and the leg that it's standing on 72 00:03:57,640 --> 00:03:59,720 Speaker 1: and I'm stealing this from a bunch of articles that 73 00:03:59,720 --> 00:04:02,560 Speaker 1: I read on this um is legacy in history. And 74 00:04:03,280 --> 00:04:06,960 Speaker 1: does that still stand if it keeps losing all these 75 00:04:06,960 --> 00:04:10,200 Speaker 1: stars to live? Well, you know it comes down the 76 00:04:10,240 --> 00:04:14,560 Speaker 1: money now if the pg does not have the advantage exactly. 77 00:04:14,600 --> 00:04:16,440 Speaker 1: And now at the p G A said, listen, we 78 00:04:16,560 --> 00:04:19,719 Speaker 1: got sponsorships all over the place from Mercedes, bands or whatever, 79 00:04:20,240 --> 00:04:23,720 Speaker 1: and now you have an equal share. Now it's like 80 00:04:24,040 --> 00:04:27,440 Speaker 1: you put the prize money up there first place, thirty 81 00:04:27,440 --> 00:04:30,440 Speaker 1: million dollars. Just throw it out there now, all of 82 00:04:30,480 --> 00:04:32,800 Speaker 1: a sudden is like, well, let me think this through here. 83 00:04:33,080 --> 00:04:35,720 Speaker 1: You know, it's all about the money and that, and look, 84 00:04:35,960 --> 00:04:38,120 Speaker 1: let's be honest. It's like, we all want to make 85 00:04:38,200 --> 00:04:40,920 Speaker 1: some more coin. Some people will say at what cost? 86 00:04:41,320 --> 00:04:46,240 Speaker 1: And the only thing I'll say about brooks Kepka is like, 87 00:04:46,839 --> 00:04:49,280 Speaker 1: come on, man, if if you're gonna have chastise this, 88 00:04:51,000 --> 00:04:53,919 Speaker 1: don't play me like a banjo. Man. It's like, I 89 00:04:53,920 --> 00:04:55,800 Speaker 1: think we're gonna be saying this a lot more in 90 00:04:55,839 --> 00:04:58,839 Speaker 1: the coming weeks. Come on, manyeh, you're gonna play me like, 91 00:04:59,520 --> 00:05:02,160 Speaker 1: play me like that. I mean, eventually it'll come down 92 00:05:02,160 --> 00:05:05,760 Speaker 1: to who the fans want to see, right and where 93 00:05:05,800 --> 00:05:10,320 Speaker 1: the stars are, and that will determine who survives. I 94 00:05:10,320 --> 00:05:12,200 Speaker 1: don't know how long the two of them, the two 95 00:05:12,240 --> 00:05:15,400 Speaker 1: leaves can go head to head. It feels like it's 96 00:05:15,440 --> 00:05:17,839 Speaker 1: just going to be fractured, and you know, it'll always 97 00:05:17,880 --> 00:05:21,440 Speaker 1: be competing for attention. Neither will look very good. They're 98 00:05:21,440 --> 00:05:23,640 Speaker 1: going to revamp the PG eight or of course they 99 00:05:23,640 --> 00:05:28,680 Speaker 1: are worth at least twenty million dollars increased purses coincidence, 100 00:05:28,680 --> 00:05:32,400 Speaker 1: I'm sure? Yeah, And you know what, that's fine. Let 101 00:05:32,480 --> 00:05:36,960 Speaker 1: them compete, foot boy, it just sticks in me what 102 00:05:37,160 --> 00:05:41,720 Speaker 1: went down with the journalists from New York Times. It 103 00:05:41,880 --> 00:05:43,640 Speaker 1: just it's hard for me to get that out of 104 00:05:43,680 --> 00:05:45,920 Speaker 1: my head. I know, I know, steam is coming out 105 00:05:45,920 --> 00:05:49,000 Speaker 1: of your ears. But you know what else I'm happy 106 00:05:49,040 --> 00:05:52,480 Speaker 1: to see finally the Women's p g A Championship doubling 107 00:05:52,520 --> 00:05:54,800 Speaker 1: the prize money to nine million dollars. That ain't enough, 108 00:05:55,279 --> 00:05:58,479 Speaker 1: continue on, they need more and more money. It's not 109 00:05:58,520 --> 00:06:02,920 Speaker 1: specific to golf. It's a cross every major sport. Yeah, 110 00:06:02,920 --> 00:06:05,480 Speaker 1: it's not even just sports. You can just you can 111 00:06:05,480 --> 00:06:07,520 Speaker 1: go to any job and it's like it's the same thing. 112 00:06:07,600 --> 00:06:10,360 Speaker 1: Just look across industry as a whole. Our next story 113 00:06:10,600 --> 00:06:15,680 Speaker 1: the Shawn Watson, now, the new lawyer, has been very busy. Yeah. 114 00:06:15,960 --> 00:06:20,800 Speaker 1: According to his lawyer, Watson has settled twenty of the 115 00:06:21,640 --> 00:06:25,919 Speaker 1: sexual misconduct cases against him. Now we should add that 116 00:06:26,000 --> 00:06:30,560 Speaker 1: the Browns gave Watson an unprecedented, fully guaranteed, five year, 117 00:06:30,680 --> 00:06:35,240 Speaker 1: two hundred thirty million dollar contract, so they were not 118 00:06:35,279 --> 00:06:38,240 Speaker 1: put off by these losses. Are filed against him twenty 119 00:06:38,240 --> 00:06:42,039 Speaker 1: five in total. Since March one of the lawsuits was dropped. 120 00:06:42,480 --> 00:06:46,400 Speaker 1: You mentioned twenty were settled. Terms are confidential therefore outstanding, 121 00:06:46,480 --> 00:06:49,600 Speaker 1: including the one by Ashley soul is the first woman 122 00:06:49,640 --> 00:06:52,200 Speaker 1: to file a lawsuit against Watson and the first to 123 00:06:52,240 --> 00:06:55,560 Speaker 1: speak publicly and identify herself as a plaintiff. Well, and 124 00:06:55,560 --> 00:06:59,039 Speaker 1: and that's the person who you know, people are hailing 125 00:06:59,080 --> 00:07:02,240 Speaker 1: as a hero because without her you might not have 126 00:07:02,320 --> 00:07:05,000 Speaker 1: heard of any of these other cases. You know, there's 127 00:07:05,000 --> 00:07:08,840 Speaker 1: an old saying, where there's smoke, there's fire. Well, where 128 00:07:08,880 --> 00:07:11,720 Speaker 1: there's a damn forest fire. You know, here comes a 129 00:07:11,720 --> 00:07:15,200 Speaker 1: big wall. You can't deny twenty four cases. I know 130 00:07:16,680 --> 00:07:19,040 Speaker 1: he's not in the clear, free and clear yet from 131 00:07:19,080 --> 00:07:22,480 Speaker 1: the NFL either. No, Roger Goodell still has to work 132 00:07:22,480 --> 00:07:26,720 Speaker 1: through a probe into whatever potential wrongdoing, and there might 133 00:07:26,760 --> 00:07:28,880 Speaker 1: be some kind of suspension. But as you mentioned, that 134 00:07:28,960 --> 00:07:32,280 Speaker 1: contract with the Browns, you know, kind of sidesteps that neatly. 135 00:07:32,560 --> 00:07:37,280 Speaker 1: What's sad is come NFL season. You know, I'm a 136 00:07:37,320 --> 00:07:43,040 Speaker 1: fantasy football junk, just like everybody else out there. We're 137 00:07:43,040 --> 00:07:44,720 Speaker 1: gonna be trying to see do I want to get 138 00:07:44,760 --> 00:07:48,200 Speaker 1: to Shawn Watson? Right? And is that even gonna be 139 00:07:48,240 --> 00:07:50,160 Speaker 1: on your radar of what happened in the off season 140 00:07:50,200 --> 00:07:52,400 Speaker 1: and the settlements. No, it's just gonna be like, let 141 00:07:52,400 --> 00:07:55,000 Speaker 1: me show me the stats. I gotta I gotta fill 142 00:07:55,000 --> 00:07:58,640 Speaker 1: out my team. We are you know, we are twisted 143 00:07:58,960 --> 00:08:02,520 Speaker 1: blasted society. At first, I think some of the women 144 00:08:02,600 --> 00:08:04,560 Speaker 1: were going to they wanted a hundred thousand. He was 145 00:08:04,560 --> 00:08:07,360 Speaker 1: gonna give a hundred thousand dollars each to these women. 146 00:08:08,120 --> 00:08:13,680 Speaker 1: The four decided not to do that yet, including Ashley Soulis. Well, 147 00:08:13,960 --> 00:08:18,440 Speaker 1: I'm having one of those philosophical moments where it's like, 148 00:08:19,760 --> 00:08:23,360 Speaker 1: do we with just do the right thing? Do the 149 00:08:23,680 --> 00:08:29,520 Speaker 1: right thing? Yes, be decent. That's that's all I ask, man, 150 00:08:29,960 --> 00:08:33,960 Speaker 1: Please just be decent. I'm sorry, I'm carrying it on man. No, no, 151 00:08:34,120 --> 00:08:37,320 Speaker 1: I I hear you. These are these are important discussions 152 00:08:37,360 --> 00:08:40,600 Speaker 1: to have, and no one's talking about being decent and 153 00:08:40,600 --> 00:08:42,680 Speaker 1: and all that when you're when you're settling, the terms 154 00:08:42,679 --> 00:08:44,640 Speaker 1: are confidential and you just want it to be clear 155 00:08:45,200 --> 00:08:47,520 Speaker 1: of legal liability. Now I will tell you about a 156 00:08:47,520 --> 00:08:52,880 Speaker 1: decent guy, Rob Bronkowski, like Rock Now, he's gonna he 157 00:08:53,000 --> 00:08:55,280 Speaker 1: is going to retire this time? Is what he didn't 158 00:08:55,280 --> 00:08:57,480 Speaker 1: he say that before? He said that three years ago, 159 00:08:57,880 --> 00:09:00,120 Speaker 1: but he means it this time. Why why do you 160 00:09:00,200 --> 00:09:02,760 Speaker 1: mean it this time? Well? I think part of it 161 00:09:02,880 --> 00:09:07,560 Speaker 1: is it takes that tight end position, well, any position 162 00:09:07,600 --> 00:09:11,400 Speaker 1: on the football, yes, but especially the tight end position. 163 00:09:11,480 --> 00:09:15,000 Speaker 1: You just get pounded and pounded and pounded. It's more 164 00:09:15,040 --> 00:09:17,800 Speaker 1: taxing than the other positions. It's a lot more taxing 165 00:09:17,840 --> 00:09:20,959 Speaker 1: than the other positions on the offense because a lot 166 00:09:21,000 --> 00:09:23,600 Speaker 1: of times as a tight end, you're also throwing in 167 00:09:23,679 --> 00:09:27,440 Speaker 1: the blocks and you know, and here comes some you know, 168 00:09:27,480 --> 00:09:31,320 Speaker 1: two pound monster coming at me, and I gotta block him, 169 00:09:31,720 --> 00:09:34,400 Speaker 1: you know, never mind trying to follow a pass pattern. 170 00:09:34,840 --> 00:09:36,960 Speaker 1: It's easy to get hurt. And I think about all 171 00:09:37,000 --> 00:09:41,720 Speaker 1: the great tight ends, Gronkowski, Gonzalez, I go all the 172 00:09:41,720 --> 00:09:44,440 Speaker 1: way back to John mackey. Man. It's like that's some 173 00:09:44,520 --> 00:09:47,440 Speaker 1: old stuff man from the cop from the Colts. But 174 00:09:48,240 --> 00:09:51,520 Speaker 1: they all pay a price. Yeah, here's something that Grunk 175 00:09:51,640 --> 00:09:55,120 Speaker 1: did and I think it's really cool. He says he 176 00:09:55,160 --> 00:09:58,840 Speaker 1: made about seventy million dollars during his career NFL, just 177 00:09:58,920 --> 00:10:02,880 Speaker 1: the money from the NFL. Now, but he didn't touch that. 178 00:10:03,320 --> 00:10:07,720 Speaker 1: He's living off of all of his endorsements. Good for him. Yeah, 179 00:10:08,040 --> 00:10:12,360 Speaker 1: it's all that's extremely smart. It's like saying I wish 180 00:10:12,400 --> 00:10:14,240 Speaker 1: I could do something like that. If we can, you 181 00:10:14,280 --> 00:10:16,400 Speaker 1: see us, if we could, we were allowed to be 182 00:10:17,320 --> 00:10:20,800 Speaker 1: off air and we can discuss how we're organizing our 183 00:10:20,800 --> 00:10:23,839 Speaker 1: our finances and our savings. Hello, I'm Michael Barr from 184 00:10:23,840 --> 00:10:28,920 Speaker 1: Mellow Bars. But but before before we get too carried aways, 185 00:10:28,920 --> 00:10:30,720 Speaker 1: it would saying, goodbout a grounk? Do we are we 186 00:10:30,800 --> 00:10:34,120 Speaker 1: certain that this is it? Because Tom Brady changed his 187 00:10:34,200 --> 00:10:38,840 Speaker 1: mind and Ron Goronkowski's agent kind of hinted that maybe 188 00:10:38,960 --> 00:10:43,559 Speaker 1: Brady could be an influencer in helping Gronk stay an 189 00:10:43,559 --> 00:10:47,000 Speaker 1: active player. So you're stirring the pot, is what you're 190 00:10:47,080 --> 00:10:51,120 Speaker 1: saying that that Gronk is Like, yeah, Gronk agent is 191 00:10:51,160 --> 00:10:55,520 Speaker 1: during the post. I think this time because thirty three 192 00:10:55,559 --> 00:10:59,440 Speaker 1: now two, around that age, it's the time now where 193 00:10:59,480 --> 00:11:02,920 Speaker 1: it's like, you know, I've made my money, I've saved 194 00:11:02,960 --> 00:11:08,400 Speaker 1: it well, and man, this game is taxing on me mentally. 195 00:11:08,679 --> 00:11:11,360 Speaker 1: I think that's something that he brought up to. Never 196 00:11:11,400 --> 00:11:14,400 Speaker 1: mind the physical, but the mental part of the game 197 00:11:15,440 --> 00:11:19,040 Speaker 1: is really you're under siege all the time, all the time, 198 00:11:19,120 --> 00:11:22,120 Speaker 1: and and forget about some people have said the best 199 00:11:22,160 --> 00:11:24,840 Speaker 1: part of it is on the field. It's all the 200 00:11:24,880 --> 00:11:28,040 Speaker 1: other stuff that you got to do before, with practice 201 00:11:28,080 --> 00:11:30,400 Speaker 1: this and practice that, and blah blah, blah blah blah 202 00:11:30,400 --> 00:11:32,240 Speaker 1: and do this and do that and this and that whatever. 203 00:11:32,720 --> 00:11:36,440 Speaker 1: Sometimes some people said that the most relaxing and easy 204 00:11:36,520 --> 00:11:38,959 Speaker 1: part was to be on the field and all that 205 00:11:39,040 --> 00:11:44,640 Speaker 1: prep time before dude, take that money. That's seventy million dollars. Yeah, 206 00:11:44,760 --> 00:11:47,199 Speaker 1: start a new career, do something else. I mean, he's 207 00:11:47,320 --> 00:11:51,040 Speaker 1: he's a young guy. Robin Crowsky, I do believe this 208 00:11:51,120 --> 00:11:54,320 Speaker 1: is it. This has been the Bloomberg Business of Sports podcast. 209 00:11:54,760 --> 00:11:59,080 Speaker 1: I Michael bar along with Scarlet Food, catches here each 210 00:11:59,200 --> 00:12:02,600 Speaker 1: and every Monday, Wednesday and Thursday's Point World of Money 211 00:12:02,640 --> 00:12:04,720 Speaker 1: and Sports, and you can catch me on Twitter at 212 00:12:04,760 --> 00:12:07,920 Speaker 1: Big Car Sports. I'm on Twitter at Scarlett Fou. You're 213 00:12:07,920 --> 00:12:12,079 Speaker 1: listening to Bloomberg Business of Sports on Bloomberg Radio around 214 00:12:12,120 --> 00:12:12,600 Speaker 1: the world.