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Speaker 1: This is the business of sports. Let's talk Super Bowl

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Speaker 1: and Fox Sports, every single thing that occurs. I want

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Speaker 1: people to remember, this is a business. Guaranteed money isn't

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Speaker 1: necessarily guaranteed. Michael Ball, how high can these valuations go? Scott,

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Speaker 1: everybody loves rooting against him, right, Evan, nobody Williams off

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Speaker 1: the field, The NBA has never been buzzier. And the

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Speaker 1: leaders in the sports industry Major League Baseball Commissioner Rob Manfredtin,

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Speaker 1: CEO of Oracle, Mark Bert here At Smith, president of Ticketmasters,

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Speaker 1: maybe race card driver, Leo castriv Bloomberg Business of Sports

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Speaker 1: from Bloomberg Radio. Hello, I'm Scott, I'm Evan, Novie Williams

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Speaker 1: and Michael bar And this is the Bloomberg Business of

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Speaker 1: Sports podcast where we explore the big money issues in

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Speaker 1: the world of sports and speaking a big money Mavericks,

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Speaker 1: Luca Dante has approached the deal with Jordan's brand shoes,

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Speaker 1: which means that he will get paid. I like when

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Speaker 1: you said, speaking of money, and you don't have a

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Speaker 1: dollar figure deal, but I don't have. I do not.

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Speaker 1: I look down at the note. How much is it?

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Speaker 1: We don't know, that's the thing, but we know well

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Speaker 1: I was just making fun of you because you're throwing

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Speaker 1: dollar things around. Obviously it's a big money. Obviously, Yes,

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Speaker 1: you know we're talking about the Luca talking to some

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Speaker 1: Luca money. We are talking Lucas money. But we know

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Speaker 1: Zion Williamson what got seventy five million over five years

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Speaker 1: after that's a monster That's a monster deal for a

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Speaker 1: guy you as you said, I'd like to say it's

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Speaker 1: as big as a jeep. Nobody, I don't think really

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Speaker 1: nobody saw Dons coming this fast like this guy. We're

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Speaker 1: an m v P territory. This guy is unbelieving he's territory.

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Speaker 1: But we're talking could be dominating in MVP old. He's

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Speaker 1: taken over the mantel for Kowsky and and all of

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Speaker 1: the popularity that came to that foreign born you know,

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Speaker 1: kind of unique, fascinating basketball superstar is now moving its

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Speaker 1: way over to Luca. I would not be and again

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Speaker 1: we don't have the numbers right now. I wouldn't be

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Speaker 1: shocked if this is close to Zion. I mean, the

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Speaker 1: difference between Luca and Zion right now is that Zion

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Speaker 1: was is a rookie, hasn't even played yet. We don't

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Speaker 1: think he's gonna be good. We don't really know, Luca.

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Speaker 1: You have a good enough sample size I think at

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Speaker 1: this point to say this is a guy who is

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Speaker 1: potentially a superstar in this league on the global scale,

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Speaker 1: so years to come, and global is another huge piece

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Speaker 1: of this. Now what I love though Nike they didn't

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Speaker 1: give him a signature shoe yet he can earn one.

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Speaker 1: I like this sort. If you gotta earn it, you

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Speaker 1: can earn one. Whether he's the m v P or

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Speaker 1: finals m v P, then he can get his signature shops.

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Speaker 1: I mean, once you get the money, you got the money,

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Speaker 1: but they all want you know, you all want your stuff.

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Speaker 1: So he's gonna have input in the design um the

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Speaker 1: other they always had. Nike always puts a sindom. They

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Speaker 1: always have a right to match. So that sort of

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Speaker 1: turned everybody else off is being possible bidders because they

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Speaker 1: probably just assume one it's gonna be a big money

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Speaker 1: and to that they're going to match clause. Well, no,

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Speaker 1: don't forget Nike. He had that right to Matt for

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Speaker 1: Steph Curry right and decided not not to do it

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Speaker 1: or it couldn't get a deal done. And and he's

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Speaker 1: at under armer right now and probably the most important

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Speaker 1: person in the under Armour stable from an athlete perspective.

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Speaker 1: Speaking of under Armour, under Armour and Puma also wanted

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Speaker 1: to strike a deal with Luca Well he too. He

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Speaker 1: teased him though, like he wore the Steph Curry under

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Speaker 1: Armour shoes, you know, in a couple of games and

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Speaker 1: practice sort of like, hey, I don't forget I'm a

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Speaker 1: free agent here, but it looks like, I mean he's

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Speaker 1: close to a deal with Nike and they'll pay up.

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Speaker 1: He's twenty years old, he's born in Slovenia. He was

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Speaker 1: the Rookie of the Year last year, and his numbers

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Speaker 1: right now filling the statuet across the board right points rebounds.

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Speaker 1: He's really all of that coming together. And just because

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Speaker 1: we're talking footwear, and you know, I'm not a big

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Speaker 1: sneaker guy, but bart and I give my little endorsements here.

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Speaker 1: Did you see the Nike Kaepernick shoes the Air Force once?

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Speaker 1: I have not, I have not really liked them. There's

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Speaker 1: sort of your understated black low top with some cool

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Speaker 1: highlights stuff. I I really you know, I'm not going

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Speaker 1: to drop the hundred and fifty it costs to get

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Speaker 1: one of those, because I don't do that at my age.

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Speaker 1: You know, I don't even let my son do that.

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Speaker 1: But for what, I just think they're very very nice. Shoot.

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Speaker 1: You have you hinted for Christmas present? To who am

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Speaker 1: I hinting to? To whom am I hinting? In the family?

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Speaker 1: To whom? Who? Who? Who would you hint to? You're

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Speaker 1: gonna Linda's gonna buy you a hundred all a pair

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Speaker 1: of sneakers exactly? So who to whom am I hinting? Eben?

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Speaker 1: I would like these sneakers? Yeah? Tell the producer yea, Yeah,

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Speaker 1: it took. It took Nike a year or so after

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Speaker 1: featuring Colin Kaepernick in that just do an add to

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Speaker 1: get around to releasing his signature product. And it's starting

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Speaker 1: with this low top black shoot, which I agree with you,

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Speaker 1: I think, and it will include the logo the NFL

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Speaker 1: team is playing for all over. Yeah, so you can

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Speaker 1: say that Lucas swims with the riches to speaking of

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Speaker 1: feeding a dead horse, thank you. I think I brought

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Speaker 1: that in there. I'm making you an offer you cannot

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Speaker 1: move on. Twenty twenty Tokyo Olympics. Oh, my it could

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Speaker 1: cost Japan even more six billion dollars, a bit more

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Speaker 1: than a Luca don Che shoe contract. This number, I mean,

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Speaker 1: I thought we were done with this. Isn't this what

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Speaker 1: the IOC was trying to avoid. They wanted to see

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Speaker 1: some some fiscal restraint in these bids, which is why

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Speaker 1: I mean, I guess that's what they promised. It was

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Speaker 1: an original forecast of seven point three billion dollars. Now

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Speaker 1: it could be ballooning, mushrooming, swelling. You tell me twenty

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Speaker 1: six billion dollars. So, yeah, it's funny. The so was Yeah,

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Speaker 1: I was gonna say that. Actually, I think these numbers

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Speaker 1: are actually significantly lower than what they were about a

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Speaker 1: decade ago. Um. But yeah, I think part of this

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Speaker 1: is part is how you're counting this money. Right, the

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Speaker 1: the official Olympic number, as you said, we started at

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Speaker 1: seven point nine. I think it's up to twelve point six, right,

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Speaker 1: that's what they're saying is the official one. This other

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Speaker 1: report said, O, it's twenty six because you have to

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Speaker 1: factor in the costs that all these municipalities are paying

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Speaker 1: for things, includes, etcetera. So it's kind of an accounting thing. Um.

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Speaker 1: But you're right, that's tremendously expensive, even for a country.

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Speaker 1: And remember Tokyo's bid was kind of like Paris Is

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Speaker 1: and especially like l A's in that part of the

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Speaker 1: appeal was that a lot of the stuff has already

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Speaker 1: been infrastructure, would have the infrastructure already. Uh. And and

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Speaker 1: you know Paris's bid, I believe it's around eight eight

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Speaker 1: billion dollars their budget l A. L A is a

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Speaker 1: little bit under that, but right around there as well.

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Speaker 1: So even if you have everything built as LA does, right,

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Speaker 1: they're not building a single facility for this. Even if

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Speaker 1: you have everything built, it's still an eight billion dollar

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Speaker 1: price tag and a profit. That's the one thing that's

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Speaker 1: the legacy of the because they have the infrastructure so

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Speaker 1: you don't have to add too much. NAT, they don't

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Speaker 1: need to put up the Michael barred not a toorium. No,

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Speaker 1: they know they don't need to do that. Could you

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Speaker 1: see what? Can you see it with a cap on

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Speaker 1: swimming labs? Finally, big news, especially for people who love

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Speaker 1: to uh, let's say, gamble online like with DraftKings. Uh,

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Speaker 1: they're going public back. Yeah, I don't think we'd be

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Speaker 1: using the term stack on this show, but you want

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Speaker 1: to explain exactly what the Scott. Yes, I I can

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Speaker 1: say it's a it's a company that invests. It's a

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Speaker 1: vehicle that invests in a company to be named later

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Speaker 1: allowing to be as a trade as a publicly traded company,

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Speaker 1: but you don't identify it at the start exactly. Yeah.

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Speaker 1: So this spack diamond Eagle in this case was a

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Speaker 1: publicly traded entity, was looking around, had four million dollars,

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Speaker 1: was looking around for for who to acquire to to

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Speaker 1: take public through that kind of reverse I p o uh.

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Speaker 1: They ended up with a three way deal. DraftKings is

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Speaker 1: combining with sp Tech, which is not a name I

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Speaker 1: think most gamblers know, but does the back end technology

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Speaker 1: for for a lot of these services. So Draft Kings

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Speaker 1: they come together, they get acquired by this back Diamond Eagle,

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Speaker 1: and are there kind of once. As soon as soon

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Speaker 1: as this deal closes, suddenly Draft Kings Inc. Is a

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Speaker 1: publicly traded company, so a pretty big deal. The new company,

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Speaker 1: I believe is going to be valued three point three

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Speaker 1: billion dollars. So as this because it's always fun with

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Speaker 1: new publicly traded companies, and Jason Robbins was just here

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Speaker 1: saying hello, studios, and we said, what's the ticker symbol?

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Speaker 1: You know, I don't know yet, you know, so I

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Speaker 1: like that. I would think that's sort of like a

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Speaker 1: fun last thing. What's the ticker zymble? What makes sense?

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Speaker 1: I would invite everybody to tweet at Michael bar Big

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Speaker 1: Bar Sports for the Draft Kings. Yes, I already suggested

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Speaker 1: vig but which I don't think is gonna You know,

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Speaker 1: there's three and four depending on where you're traded, you

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Speaker 1: either got three symbols or four. Okay, yeah, yeah, but

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Speaker 1: see that. And we were talking about this too. They're

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Speaker 1: the squatters out there, and they have taken up a

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Speaker 1: lot of symbols that would ordinarily people would trade and

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Speaker 1: use that as the training symbol. Michael Paul. We also

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Speaker 1: got we got some financials as part of this deal, obviously,

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Speaker 1: some some projections, this new combined entity. So between sp

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Speaker 1: Tech and Draft Kings, Uh, they're they're projecting to do

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Speaker 1: about five million dollars of revenue next year. A bulk

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Speaker 1: of that four million of that from DraftKings. Just to

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Speaker 1: give you a sense of the scale DraftKings invaluation here,

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Speaker 1: you know, seems to be driving you know, more than

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Speaker 1: two thirds of the revenue and the millions, so they

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Speaker 1: have some pretty pretty big revenue growth projections over the

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Speaker 1: next couple of years. Uh, and that you can kind

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Speaker 1: of read between the lines, largely fueled by the fact

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Speaker 1: that more US states are legalizing sports gambling and as

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Speaker 1: a result, there's more markets like Michael Barrs Pennsylvania that

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Speaker 1: DraftKings can can swoop into. I've said it again, it's

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Speaker 1: gonna be hooch, fireworks and now sports betting. You are

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Speaker 1: going to be the ultimate degenerate. I mean going to

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Speaker 1: be well right now, right now, you have you have

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Speaker 1: a propensity to be that. Now you will actually achieve

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Speaker 1: those problems right there on the edge. PLoP, that's all

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Speaker 1: that's gonna happen, that moment that comes. Man, But you'all

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Speaker 1: can come over to the house. I would love to

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Speaker 1: sit on your farm. Ports would make some bets and

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Speaker 1: by the way, we all make the Oval team. Also,

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Speaker 1: by the way, Edman, we should know that of the

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Speaker 1: investors in DraftKings, some own sports teams and there is

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Speaker 1: a point at which they might have to divest their

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Speaker 1: holdings because this is now. Yeah, I wouldn't be shocked

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Speaker 1: if once this deal closes. We see some owners, particularly

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Speaker 1: you know, the Craft Group is invested, and Jerry Jones

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Speaker 1: through Legends, also an investor. I wouldn't be shocked if

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Speaker 1: they divest. But again, you know, it's a lot easier

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Speaker 1: to divest your holdings in a company like this once

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Speaker 1: it's public than before it was public. Right. We saw

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Speaker 1: when Major League Baseball tried to get out of draft kings.

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Speaker 1: It took a while to do it, just because there

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Speaker 1: was no easy way to get rid of those shares

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Speaker 1: for a privately home. Did they tell everybody they got they? Did?

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Speaker 1: They get out of it finally? Um, But I think

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Speaker 1: that becomes a much easier prospect once the once the

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Speaker 1: company has publicly traded. This is the Bloomberg business of

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Speaker 1: sports podcast. By the way, we are not here on Wednesday,

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Speaker 1: and the reason why you won't hear a podcast on

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Speaker 1: Wednesday it is a holiday. It is Christmas, so they

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Speaker 1: gave us Christmas off. I offered call in, but you

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Speaker 1: guys said you wouldn't do it. I thought we were

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Speaker 1: off for the bad boy Mower's gasperilla bole good segue.

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Speaker 1: Let me let you say what I say and then

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Speaker 1: you say your thing. There because we are here, and

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Speaker 1: we say, though, this is our promo every Monday, Wednesday

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Speaker 1: and Thursday. And I'm saying that right after we tell

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Speaker 1: everybody we're not going to be here Wednesday. I look

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Speaker 1: like a liar. But we do explore the world of

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Speaker 1: money in sports. Crystal Clear, you can join us again.

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Speaker 1: At the end of the week. We're talking with John Curry,

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Speaker 1: the athletic director at wake Forest University, having a whole

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Speaker 1: conversation about bowl games, why schools want to go to them,

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Speaker 1: where the money comes from, how much they cost to attend.

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Speaker 1: Wake Forest is playing Michigan State at the Pinstripe Bowl

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Speaker 1: here in New York. Thank you, random, Thank you, random

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Speaker 1: vie by the way, that handsome gentleman and just spoke,

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Speaker 1: that's Evan Nobe Williams. And along with Scotts no adjective,

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Speaker 1: no adjective he gets handsome, I get along with along

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Speaker 1: with handsome, Thank you, Scott, thank you, and I'm Michael Barry. Anyway,

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Speaker 1: you're listening to the Bloomberg Business of Sports on Bloomberg

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Speaker 1: Radio around the world and online wherever you get your podcasts.

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Speaker 1: M