1 00:00:00,720 --> 00:00:04,800 Speaker 1: This is Bloomberg Business of Sports, where in a situation 2 00:00:04,880 --> 00:00:07,440 Speaker 1: that we haven't dealt with in modern times, the pandemic 3 00:00:07,440 --> 00:00:11,280 Speaker 1: here has really accelerated the investments that we've been havocating 4 00:00:11,360 --> 00:00:13,680 Speaker 1: for for a year. From a macro standpoint, I think 5 00:00:13,680 --> 00:00:16,880 Speaker 1: our sport industry is really forced to look at the 6 00:00:17,000 --> 00:00:20,079 Speaker 1: business a little bit differently. In depth conversations with the 7 00:00:20,239 --> 00:00:22,520 Speaker 1: leaders in the sports industry and he sport, there is 8 00:00:22,560 --> 00:00:25,320 Speaker 1: a good admiration we're still moving forward part of something 9 00:00:25,400 --> 00:00:27,320 Speaker 1: much bigger than the sport right now, the health and 10 00:00:27,360 --> 00:00:30,200 Speaker 1: sandustry of our stakeholders are real smart important every moment. 11 00:00:30,320 --> 00:00:32,680 Speaker 1: I think we're all from a business respective thinking about 12 00:00:32,720 --> 00:00:35,280 Speaker 1: the impact that the virus is having across the country. 13 00:00:35,280 --> 00:00:40,040 Speaker 1: In Bloomberg Business of Sports from Bloomberg Radio Hiver One, 14 00:00:40,080 --> 00:00:43,080 Speaker 1: I'm Jason Kelly, and I'm Mike Lynch and I'm Michael Barr. 15 00:00:43,200 --> 00:00:45,440 Speaker 1: Over the next hour, we will explore the big money 16 00:00:45,479 --> 00:00:47,559 Speaker 1: issues in the world of sports and talk to some 17 00:00:47,600 --> 00:00:50,319 Speaker 1: of the biggest players in the industry. And coming up 18 00:00:50,440 --> 00:00:52,360 Speaker 1: later on in the show, we're going to catch up 19 00:00:52,360 --> 00:00:58,000 Speaker 1: with New York Yankees president Randy Levine about baseball. Yeah, 20 00:00:58,200 --> 00:01:01,960 Speaker 1: it's back spring training. Is underway opening day just around 21 00:01:02,000 --> 00:01:03,800 Speaker 1: the corner. Fans going to be in the stands and 22 00:01:03,920 --> 00:01:07,959 Speaker 1: Yankee Stadium. And yet it's still a tough business because 23 00:01:07,959 --> 00:01:10,880 Speaker 1: we're in the midst of a global pandemic. Still guys 24 00:01:10,959 --> 00:01:14,160 Speaker 1: that straight ahead on the Bloomberg Business of Sports. But 25 00:01:14,319 --> 00:01:17,920 Speaker 1: first I got to talk about a story that has 26 00:01:18,200 --> 00:01:21,880 Speaker 1: really taken a couple of twists and turns. Last week 27 00:01:22,200 --> 00:01:26,120 Speaker 1: Bloomberg Business Week, our colleagues over there a phenomenal story 28 00:01:26,440 --> 00:01:32,160 Speaker 1: about the sneakerhead business, if you will, the secondary market 29 00:01:32,560 --> 00:01:36,720 Speaker 1: for sneakers. It featured a young man who has done 30 00:01:36,840 --> 00:01:40,480 Speaker 1: quite well for himself in that secondary market. Well, it 31 00:01:40,520 --> 00:01:45,680 Speaker 1: turns out his mom was until just recently, a senior 32 00:01:45,760 --> 00:01:49,560 Speaker 1: executive at Nike. We're talking about Ann Hebert. She was 33 00:01:49,840 --> 00:01:55,080 Speaker 1: Nike's vice president general manager of North America, and she 34 00:01:55,240 --> 00:01:58,680 Speaker 1: left her job this week. And it's really exposed this 35 00:01:58,960 --> 00:02:05,880 Speaker 1: uneasy relationship between sneaker makers like Nike and this underground network. 36 00:02:06,320 --> 00:02:09,799 Speaker 1: Let's hear from Josh Hunt. He wrote the story about 37 00:02:09,840 --> 00:02:14,320 Speaker 1: the reaction to finding out what that story led to. 38 00:02:14,800 --> 00:02:17,440 Speaker 1: From the moment that I first learned that, you know, 39 00:02:17,480 --> 00:02:20,959 Speaker 1: my main sneaker reselling character was had a mother, who 40 00:02:20,960 --> 00:02:23,120 Speaker 1: was a top executive at Nike. You know what did 41 00:02:23,120 --> 00:02:25,520 Speaker 1: that mean? It's a very gray area, and readers of 42 00:02:25,560 --> 00:02:28,440 Speaker 1: the story will note that we didn't accuse them of 43 00:02:28,440 --> 00:02:32,280 Speaker 1: any wrongdoing because it's it was very unclear what this meant. 44 00:02:32,560 --> 00:02:34,920 Speaker 1: Now we have a little bit more clarity now that 45 00:02:34,960 --> 00:02:38,600 Speaker 1: and Heberts has decided to resign. But frankly, I have 46 00:02:38,680 --> 00:02:42,080 Speaker 1: to say I'm a little bit surprised because Nike defended 47 00:02:42,160 --> 00:02:44,840 Speaker 1: Hebert's very strongly in the piece, you know, when we 48 00:02:44,919 --> 00:02:49,240 Speaker 1: went to them for comments prior to publications. So for 49 00:02:49,280 --> 00:02:51,800 Speaker 1: this to happen so soon after the story landed, I 50 00:02:51,840 --> 00:02:54,520 Speaker 1: have to think that maybe there was something in the 51 00:02:54,560 --> 00:02:58,160 Speaker 1: story more than they expected. And I still wonder what 52 00:02:58,240 --> 00:03:01,720 Speaker 1: that might be. So that is Josh Hunt, a contributor 53 00:03:01,760 --> 00:03:05,200 Speaker 1: to Bloomberg Business Week, about his cover story, which lad 54 00:03:05,560 --> 00:03:09,720 Speaker 1: we think pretty directly to the resignation of Ann Hebert 55 00:03:09,760 --> 00:03:13,320 Speaker 1: over at Nike. You know, guys, I'm gonna go out 56 00:03:13,320 --> 00:03:15,400 Speaker 1: on a limb and say, neither of you as a 57 00:03:15,440 --> 00:03:19,239 Speaker 1: full on sneaker head. Maybe you've got a side hustle, 58 00:03:19,680 --> 00:03:22,079 Speaker 1: uh going on Lynchy that that I don't know about. 59 00:03:22,160 --> 00:03:24,880 Speaker 1: But I was blown away by this story setting aside 60 00:03:25,240 --> 00:03:29,839 Speaker 1: the aftermath. Uh A fascinating, fascinating market here. I think 61 00:03:29,840 --> 00:03:33,840 Speaker 1: it's the sneaker version of insider trading right here with 62 00:03:33,919 --> 00:03:36,160 Speaker 1: the West Coast. Joe was his nickname out there, and 63 00:03:36,400 --> 00:03:38,560 Speaker 1: you don't you don't get a moniker like that unless 64 00:03:38,600 --> 00:03:44,000 Speaker 1: you're you're a slickster, so bar you know, I think 65 00:03:44,400 --> 00:03:46,560 Speaker 1: you know, growing up in the South, I just referred 66 00:03:46,560 --> 00:03:48,680 Speaker 1: to all of them as tennis shoes. That's a very 67 00:03:49,120 --> 00:03:52,680 Speaker 1: regional thing. But you know, these are I mean, this 68 00:03:52,760 --> 00:03:55,520 Speaker 1: is a big business, and you know, the Internet obviously 69 00:03:55,560 --> 00:03:59,080 Speaker 1: has fueled this in a big time way. And it's 70 00:03:59,080 --> 00:04:03,600 Speaker 1: an uneasy relationship as we've as we've pointed out if 71 00:04:03,680 --> 00:04:08,720 Speaker 1: you're Nike or Adidas or Puma, because you sell it 72 00:04:08,760 --> 00:04:10,760 Speaker 1: for one thing and then it sort of takes on 73 00:04:11,640 --> 00:04:14,160 Speaker 1: a life of its own. So we shouldn't sleep on 74 00:04:14,240 --> 00:04:17,039 Speaker 1: the fact that, you know, this is a massive new 75 00:04:17,240 --> 00:04:19,640 Speaker 1: asset class in some ways. I was trying to think 76 00:04:19,680 --> 00:04:21,800 Speaker 1: of a comparison to this, and I think the best 77 00:04:21,839 --> 00:04:25,120 Speaker 1: comparison that I can think of, and all three of 78 00:04:25,200 --> 00:04:31,400 Speaker 1: us were in the broadcasting business and especially doing news 79 00:04:31,480 --> 00:04:34,160 Speaker 1: and sports. We we can't go out and all of 80 00:04:34,200 --> 00:04:37,080 Speaker 1: a sudden if Kelloggs says, hey, we want you to 81 00:04:37,240 --> 00:04:40,400 Speaker 1: endorse Kellogg's frosted flakes, and then we go out and 82 00:04:40,440 --> 00:04:44,360 Speaker 1: do a commercial for Kellogg's frosted flakes, and then we're 83 00:04:44,400 --> 00:04:47,559 Speaker 1: buying boxes of Kellogg's frosted flakes, and then we're selling 84 00:04:47,600 --> 00:04:52,080 Speaker 1: it on our side hustle. Well, I'm just wondering about 85 00:04:52,160 --> 00:04:54,680 Speaker 1: the ethics involved in that. I'm not saying anybody did 86 00:04:54,760 --> 00:04:59,520 Speaker 1: anything wrong, but I I just wonder about that. Yeah, 87 00:04:59,560 --> 00:05:03,640 Speaker 1: And and I wonder about here is the broader sort 88 00:05:03,680 --> 00:05:08,359 Speaker 1: of corporate um culpability here. You know, I think you 89 00:05:08,360 --> 00:05:10,800 Speaker 1: know for a long time, and and we know you're 90 00:05:10,800 --> 00:05:14,560 Speaker 1: a Detroit guy, uh, Michael Barr. You know, you know 91 00:05:14,640 --> 00:05:16,880 Speaker 1: as well as anyone you know their new cars and 92 00:05:17,040 --> 00:05:20,880 Speaker 1: use cars. And we also have learned of laid about 93 00:05:20,920 --> 00:05:24,320 Speaker 1: this new market for collectibles, especially when it comes to 94 00:05:24,320 --> 00:05:27,080 Speaker 1: trading cards. We were talking about that over the past 95 00:05:27,080 --> 00:05:32,560 Speaker 1: few weeks in terms of assigning value to certain things 96 00:05:32,720 --> 00:05:36,080 Speaker 1: maybe in a way that we haven't before. And as 97 00:05:36,080 --> 00:05:39,599 Speaker 1: I said before, you know, technology has really enabled a 98 00:05:39,640 --> 00:05:41,719 Speaker 1: lot of this, and you're able to to buy and 99 00:05:41,760 --> 00:05:45,600 Speaker 1: sell things and show people pictures of it, etcetera, etcetera. 100 00:05:45,720 --> 00:05:47,479 Speaker 1: One other thing I did want to bring to the 101 00:05:47,480 --> 00:05:51,559 Speaker 1: four because it happened act we taped our show last week. 102 00:05:51,600 --> 00:05:55,840 Speaker 1: We've talked a lot about ownership and player empowerment and 103 00:05:55,880 --> 00:05:58,400 Speaker 1: all sorts of things. Uh, a little bit of a 104 00:05:58,520 --> 00:06:00,800 Speaker 1: coda to a story that that we had talked about, 105 00:06:00,800 --> 00:06:04,640 Speaker 1: which is the Atlanta Dream, the w NBA team in Atlanta. 106 00:06:04,839 --> 00:06:08,560 Speaker 1: Kelly Leffler, um former U S Senator from the Great 107 00:06:08,600 --> 00:06:12,440 Speaker 1: State of Georgia, lost her re election bid and she 108 00:06:12,560 --> 00:06:16,040 Speaker 1: got cross ways last summer, as you will recall, with 109 00:06:16,120 --> 00:06:20,160 Speaker 1: her own team, the Atlanta Dream, over her stance on 110 00:06:20,200 --> 00:06:24,000 Speaker 1: the Black Lives Matter movement. The Atlanta Dream and their 111 00:06:24,040 --> 00:06:27,240 Speaker 1: colleagues across the w n b A ended up endorsing 112 00:06:27,240 --> 00:06:31,520 Speaker 1: her opponent, Rafael Warnock now Senator Rafael Warnock in the 113 00:06:31,640 --> 00:06:35,279 Speaker 1: U S Senate. Well, Kelly Leffler sold the team. Not 114 00:06:35,400 --> 00:06:38,080 Speaker 1: surprised when we knew that was going to happen. The 115 00:06:38,160 --> 00:06:42,839 Speaker 1: kicker and a really interesting thing historic the first ever 116 00:06:43,360 --> 00:06:46,000 Speaker 1: former player in the w n b A is going 117 00:06:46,040 --> 00:06:50,320 Speaker 1: to be an owner and an executive. Talking about Renee Montgomery, 118 00:06:50,400 --> 00:06:53,440 Speaker 1: I gotta say, Lynchy, I like it. I like that 119 00:06:53,560 --> 00:06:56,880 Speaker 1: turn of events just from a narrative perspective. And you know, 120 00:06:57,040 --> 00:07:01,560 Speaker 1: here you have a young former player, a young black 121 00:07:01,600 --> 00:07:04,599 Speaker 1: woman who moved to Atlanta, really took up the cause 122 00:07:04,680 --> 00:07:08,479 Speaker 1: to the point where she sat out of the w 123 00:07:08,640 --> 00:07:11,480 Speaker 1: n BAS season to focus on social activism. Now she's 124 00:07:11,480 --> 00:07:15,080 Speaker 1: gonna own the team. I think it's absolutely spectacular and 125 00:07:15,480 --> 00:07:19,679 Speaker 1: this is what what a loud voice can do. And 126 00:07:19,720 --> 00:07:23,240 Speaker 1: you know, Leffler was absolutely wrong. It reminds me a 127 00:07:23,280 --> 00:07:25,000 Speaker 1: little bit of Donald Sterling when he owned the Los 128 00:07:25,040 --> 00:07:27,680 Speaker 1: Angeles Clippers, very very similar. But now you've got a 129 00:07:27,680 --> 00:07:31,560 Speaker 1: former player with with an ownership stake here and um, 130 00:07:31,640 --> 00:07:32,960 Speaker 1: you know a lot of good things came out of 131 00:07:33,840 --> 00:07:35,960 Speaker 1: and that's one of them. Well, thanks so much for 132 00:07:36,040 --> 00:07:38,520 Speaker 1: joining us everyone. I'm Jason Kelly along with Michael Barr 133 00:07:38,560 --> 00:07:43,080 Speaker 1: and Mike Lynch. Today a timely conversation, a big conversation, 134 00:07:43,360 --> 00:07:46,280 Speaker 1: especially if you're a Yankees fan. New York Yankees President 135 00:07:46,320 --> 00:07:50,000 Speaker 1: Randy Levine here with us on the line. Randy, great 136 00:07:50,040 --> 00:07:52,800 Speaker 1: to have you with us, and especially good because it's 137 00:07:52,840 --> 00:07:57,720 Speaker 1: baseball season. Thank goodness. Baseball is back not quite to 138 00:07:57,840 --> 00:07:59,920 Speaker 1: where we need it to be, but that's the world 139 00:08:00,000 --> 00:08:02,200 Speaker 1: that we're living in. Give us an update, like, what's 140 00:08:02,240 --> 00:08:05,160 Speaker 1: the game that we're going to expect to see on 141 00:08:05,280 --> 00:08:09,239 Speaker 1: opening day. Well, it's great to be with you guys, 142 00:08:09,320 --> 00:08:14,400 Speaker 1: and uh, I hope everybody is healthy and well, and uh, 143 00:08:14,440 --> 00:08:17,920 Speaker 1: I think that it's exciting. I mean, we're in spring training. 144 00:08:18,400 --> 00:08:22,440 Speaker 1: It's going very very well. Uh A commissioner and the 145 00:08:22,560 --> 00:08:28,920 Speaker 1: union negotiated protocols that are very very uh protective and 146 00:08:29,080 --> 00:08:32,960 Speaker 1: substantial because you know, protecting all players is is the 147 00:08:33,000 --> 00:08:37,080 Speaker 1: most important thing. People are getting vaccinated and hopefully they'll 148 00:08:37,120 --> 00:08:42,200 Speaker 1: continue to get vaccinated at larger numbers. So so far 149 00:08:42,280 --> 00:08:44,800 Speaker 1: spring training has been great. You know, they've been limited fans, 150 00:08:44,800 --> 00:08:48,559 Speaker 1: but thank god they're fans and and uh it's a 151 00:08:48,600 --> 00:08:52,120 Speaker 1: whole different game when they were fans. And uh, so 152 00:08:52,160 --> 00:08:55,440 Speaker 1: we're expecting a regular season at least here in New York. 153 00:08:56,080 --> 00:08:59,720 Speaker 1: We're in the process of negotiating with the governor and 154 00:09:00,240 --> 00:09:03,720 Speaker 1: the Health Department and people in the state to see 155 00:09:04,200 --> 00:09:10,240 Speaker 1: how many fans uh will be allowed on opening day. Uh. 156 00:09:10,360 --> 00:09:13,480 Speaker 1: The governor has been very reasonable with us all throughout 157 00:09:13,520 --> 00:09:18,760 Speaker 1: this situation. And uh, you know, it's about the science. 158 00:09:19,200 --> 00:09:23,840 Speaker 1: So we're actually in the process of trying to work 159 00:09:23,840 --> 00:09:26,560 Speaker 1: out something that we think, of course, we can do 160 00:09:26,679 --> 00:09:30,760 Speaker 1: safely because of the health of our fans as paramount, 161 00:09:31,280 --> 00:09:33,679 Speaker 1: but also do it in a way that can get 162 00:09:34,160 --> 00:09:37,319 Speaker 1: the maximum amount of people in the ballpark. So we're excited. 163 00:09:37,440 --> 00:09:40,679 Speaker 1: I think with a little luck, we're gonna have a 164 00:09:41,200 --> 00:09:45,200 Speaker 1: real hundred and sixty two games season. Speaking as a 165 00:09:45,240 --> 00:09:48,520 Speaker 1: Tigers fans, sir, I'd just like to say congratulations, because 166 00:09:48,559 --> 00:09:51,480 Speaker 1: you already beat the snot out of us in spring training, 167 00:09:51,559 --> 00:09:54,920 Speaker 1: so hopefully we'll get our act together and try to 168 00:09:54,960 --> 00:09:57,000 Speaker 1: get something going which brings us to do. I don't 169 00:09:57,000 --> 00:10:01,199 Speaker 1: think you should worry about spring training, my friend, I 170 00:10:01,320 --> 00:10:06,360 Speaker 1: worry about everything. Don't work about spring training because one 171 00:10:06,400 --> 00:10:10,520 Speaker 1: thing that has happened because of COVID. Usually the UH 172 00:10:10,920 --> 00:10:14,880 Speaker 1: cities that are in the South or in the Phoenix 173 00:10:14,920 --> 00:10:20,480 Speaker 1: area with the Cactus League, usually they have a boon 174 00:10:20,920 --> 00:10:24,080 Speaker 1: for cash because of all the people coming in seeing 175 00:10:24,080 --> 00:10:27,320 Speaker 1: the games. But this year it's different because of the 176 00:10:27,360 --> 00:10:31,920 Speaker 1: COVID restrictions and the limits on the capacity for those parts. 177 00:10:32,320 --> 00:10:35,560 Speaker 1: Can you talk more about that and what that means 178 00:10:35,600 --> 00:10:40,040 Speaker 1: for the people in spring training. I can only speak 179 00:10:40,040 --> 00:10:44,880 Speaker 1: to the Yankees because I'm not really getting reports from 180 00:10:44,880 --> 00:10:50,400 Speaker 1: many place else as of now. But I think that uh, yes, 181 00:10:50,600 --> 00:10:53,000 Speaker 1: I mean, you know, it's hard to travel. You know, 182 00:10:53,080 --> 00:10:56,839 Speaker 1: people are worried about traveling. Usually there's a lot a 183 00:10:56,920 --> 00:11:00,360 Speaker 1: lot of Yankee fans that travel down to Tampa from 184 00:11:00,440 --> 00:11:04,160 Speaker 1: all over the country at the Sea Spring training. Uh. 185 00:11:04,200 --> 00:11:08,800 Speaker 1: And obviously that's been tempered. Um. People are being careful 186 00:11:08,840 --> 00:11:12,280 Speaker 1: as they should be. But I just think it's after 187 00:11:12,360 --> 00:11:16,400 Speaker 1: what happened last year with no fans and and and 188 00:11:16,720 --> 00:11:21,200 Speaker 1: and you know the stress of what all of us 189 00:11:21,280 --> 00:11:24,480 Speaker 1: went through. Even the fact that there has limited fans 190 00:11:24,520 --> 00:11:29,720 Speaker 1: there and people you know, congregating around stinburn the field, 191 00:11:30,040 --> 00:11:33,040 Speaker 1: there's just a different feel to it. You know, baseball 192 00:11:33,160 --> 00:11:39,640 Speaker 1: is all about you know, hope and spring and starting over. 193 00:11:40,040 --> 00:11:43,200 Speaker 1: And you know you didn't have that feeling last year. 194 00:11:43,520 --> 00:11:46,079 Speaker 1: You we're getting it back this year. It's going to 195 00:11:46,160 --> 00:11:49,800 Speaker 1: take time, but we're feeling it. So Hi, Randy, this 196 00:11:49,880 --> 00:11:53,480 Speaker 1: is Mike Lynch up in Boston and always enjoyed talking 197 00:11:53,520 --> 00:11:56,800 Speaker 1: with a member of the Yankees. UM. So, when when 198 00:11:56,920 --> 00:12:00,720 Speaker 1: you have people coming to Yankee Stadium and percent in 199 00:12:00,720 --> 00:12:02,440 Speaker 1: the state of New York, so let's call it a 200 00:12:02,440 --> 00:12:05,720 Speaker 1: ballpark figure of about five thousand per game, how do 201 00:12:05,760 --> 00:12:09,760 Speaker 1: you allocate the seats to satisfy those who you want 202 00:12:09,760 --> 00:12:12,040 Speaker 1: to sit in the luxury seats and those who sit 203 00:12:12,080 --> 00:12:14,000 Speaker 1: in the bleachers. How do you do you divided that 204 00:12:14,040 --> 00:12:18,440 Speaker 1: all up equally. Well, again, my ten percent here in 205 00:12:18,440 --> 00:12:21,559 Speaker 1: New York was the indoor arenas. We don't have a 206 00:12:22,240 --> 00:12:25,000 Speaker 1: number yet, as they said, we're in the process of 207 00:12:25,800 --> 00:12:28,840 Speaker 1: going through that. You know, we have the governor's people 208 00:12:28,880 --> 00:12:31,800 Speaker 1: in the health Department and people from the state, you know, 209 00:12:32,120 --> 00:12:36,960 Speaker 1: talking to to us and and looking at the stadium. Uh. 210 00:12:37,000 --> 00:12:41,960 Speaker 1: You know, we've been by many, many people organizations even 211 00:12:41,960 --> 00:12:45,160 Speaker 1: before the pandemic. You know, we've been voted by very 212 00:12:45,200 --> 00:12:51,760 Speaker 1: responsible organizations the healthiest stadium in the world. We have 213 00:12:52,480 --> 00:12:57,400 Speaker 1: a lot of protocols in place that never anticipated a pandemic, 214 00:12:57,440 --> 00:13:01,400 Speaker 1: because you can but anticipating a lot of these things. 215 00:13:01,400 --> 00:13:04,160 Speaker 1: So once we get the number, then we'll be able 216 00:13:04,200 --> 00:13:08,880 Speaker 1: to allocate it. Of course, baseball has their own regulations 217 00:13:08,880 --> 00:13:11,880 Speaker 1: in place that you can't get too close to the players, 218 00:13:12,400 --> 00:13:15,600 Speaker 1: has to be plexi gliss and in place in certain areas, 219 00:13:16,120 --> 00:13:20,760 Speaker 1: certain social distancing requirements. So at the end of the day, Uh, 220 00:13:20,920 --> 00:13:23,520 Speaker 1: that's can impact some parts of the stadium, whether they 221 00:13:23,600 --> 00:13:28,400 Speaker 1: be luxury or premium or you know, bleacher seats. Uh, 222 00:13:28,480 --> 00:13:31,320 Speaker 1: there's gonna, you know, be changes, but we're not gonna 223 00:13:31,480 --> 00:13:36,040 Speaker 1: know that specific information until we get the word as 224 00:13:36,080 --> 00:13:38,680 Speaker 1: to what the exact number of fans we can have. 225 00:13:40,080 --> 00:13:43,400 Speaker 1: So Randy from a pure dollars and cents perspective, From 226 00:13:43,400 --> 00:13:46,719 Speaker 1: a business perspective, how do you come into this year? 227 00:13:46,760 --> 00:13:49,679 Speaker 1: I mean, you guys obviously are fortunate. I think it's 228 00:13:49,679 --> 00:13:54,760 Speaker 1: fair to say it is a you know, robust organization 229 00:13:54,800 --> 00:13:58,280 Speaker 1: when it comes to it's it's financial standing, and yet 230 00:14:00,080 --> 00:14:04,199 Speaker 1: brutal economically for every company, um and for every organization. 231 00:14:04,679 --> 00:14:07,760 Speaker 1: How do you sort of what's the posture this sort 232 00:14:07,760 --> 00:14:10,640 Speaker 1: of financial and business posture kind of coming into the 233 00:14:11,080 --> 00:14:16,800 Speaker 1: one season? Well, last year was beyond brutal. Last year 234 00:14:16,920 --> 00:14:23,040 Speaker 1: was devastating, uh to every professional sports team, especially in baseball. 235 00:14:23,160 --> 00:14:26,240 Speaker 1: UH and you know, we're the largest revenue UH team 236 00:14:26,240 --> 00:14:30,000 Speaker 1: in the game, so we lost the most revenue and UH, 237 00:14:30,120 --> 00:14:35,280 Speaker 1: you know it hurt. And you know, lucky because uh 238 00:14:35,400 --> 00:14:38,800 Speaker 1: al Steinbrenner and our team, we've we've been able to 239 00:14:39,800 --> 00:14:43,040 Speaker 1: have reserve funds and control our debt and do all 240 00:14:43,040 --> 00:14:46,000 Speaker 1: of those things. You know, we managed through it, but 241 00:14:46,440 --> 00:14:48,760 Speaker 1: you know it's going to take more time and more effort. 242 00:14:48,880 --> 00:14:51,320 Speaker 1: You know, more years for all of us in baseball 243 00:14:51,360 --> 00:14:56,160 Speaker 1: and all professional storts to manage through it. So we're 244 00:14:56,200 --> 00:14:58,400 Speaker 1: hoping for more revenue. It's not going to be a 245 00:14:58,400 --> 00:15:03,280 Speaker 1: full revenue season because obviously we're not starting with fans 246 00:15:03,280 --> 00:15:07,120 Speaker 1: and seats. But you know, there's some advantages last year. 247 00:15:07,520 --> 00:15:10,920 Speaker 1: You know, when you have regional sports UH contracts, you 248 00:15:11,000 --> 00:15:13,760 Speaker 1: pay and get paid on a certain number of games. 249 00:15:13,800 --> 00:15:17,680 Speaker 1: Obviously they're only sixty games last year, not a hundred 250 00:15:17,680 --> 00:15:20,440 Speaker 1: and sixty two, so you know they had to be rebates. 251 00:15:21,080 --> 00:15:25,040 Speaker 1: You lose your concession money and signage and sponsorship. So 252 00:15:25,200 --> 00:15:28,800 Speaker 1: with brutal and it's going to be brutal this year. Hopefully, 253 00:15:29,040 --> 00:15:31,360 Speaker 1: you know, as more people get vaccinated and we get 254 00:15:31,400 --> 00:15:35,760 Speaker 1: more people in, it'll be you know, mitigated, but you 255 00:15:35,800 --> 00:15:38,200 Speaker 1: know it's not going to be a a full year, 256 00:15:38,520 --> 00:15:42,040 Speaker 1: and you have to plan accordingly. You have to manage 257 00:15:42,040 --> 00:15:47,360 Speaker 1: your expenses, you have to manage your uh expectations UH 258 00:15:47,480 --> 00:15:51,840 Speaker 1: and UH and hopefully UH manage your staff in a 259 00:15:51,880 --> 00:15:55,080 Speaker 1: way that you get people back to work uh but 260 00:15:55,600 --> 00:16:01,080 Speaker 1: they're productive and and you don't too much into debt. 261 00:16:01,200 --> 00:16:03,920 Speaker 1: So it's going to be a challenge for everybody this year. 262 00:16:04,280 --> 00:16:07,160 Speaker 1: But it's going to be better than it was last year. Randy, 263 00:16:07,320 --> 00:16:10,160 Speaker 1: just to go back at a bit too. Last summer 264 00:16:10,360 --> 00:16:13,760 Speaker 1: getting onto the field, getting the game going again was 265 00:16:13,800 --> 00:16:16,440 Speaker 1: a little bit fraught, and there were some shall we 266 00:16:16,480 --> 00:16:20,560 Speaker 1: say economic disagreements as it were, between the players and 267 00:16:20,600 --> 00:16:24,480 Speaker 1: the teams and the league sort of all coming together ultimately, 268 00:16:24,720 --> 00:16:28,960 Speaker 1: But what what's the net effect of that when you 269 00:16:29,120 --> 00:16:32,640 Speaker 1: think about, you know, how the players and the teams 270 00:16:32,720 --> 00:16:37,280 Speaker 1: have to interact to get to a reasonable posture and 271 00:16:37,280 --> 00:16:44,080 Speaker 1: a reasonable situation, especially um with that cv A looming. Well, 272 00:16:44,120 --> 00:16:45,920 Speaker 1: I mean last year, it could have been done better. 273 00:16:46,360 --> 00:16:48,600 Speaker 1: There's no question. I mean, at the end of the day, 274 00:16:48,640 --> 00:16:52,520 Speaker 1: we reached an agreement. I think this season was successful, 275 00:16:53,440 --> 00:16:55,680 Speaker 1: but you know, all of us acknowledge, I think on 276 00:16:55,720 --> 00:16:58,320 Speaker 1: all sides that it could have been done quieter, could 277 00:16:58,320 --> 00:17:02,720 Speaker 1: have been done better. And uh and hopefully, uh the 278 00:17:02,800 --> 00:17:06,200 Speaker 1: season is starting now. Uh, this is going to be 279 00:17:06,480 --> 00:17:10,560 Speaker 1: an important year because next season is a collective bargaining 280 00:17:10,640 --> 00:17:17,879 Speaker 1: year and we all have to step back, all of 281 00:17:17,960 --> 00:17:22,199 Speaker 1: us and understand that this game is so important to 282 00:17:22,280 --> 00:17:28,240 Speaker 1: so many people that coming off a pandemic, people just 283 00:17:28,359 --> 00:17:30,679 Speaker 1: want to have us play it. Really don't want to 284 00:17:30,680 --> 00:17:33,679 Speaker 1: hear about all problems in public. It has to be 285 00:17:33,760 --> 00:17:37,439 Speaker 1: give and take. As you know many of you may know, 286 00:17:37,840 --> 00:17:42,879 Speaker 1: or if you don't. And after the strike, guy I 287 00:17:43,040 --> 00:17:46,440 Speaker 1: was hired to be the chief labor negotiator from Major 288 00:17:46,480 --> 00:17:50,000 Speaker 1: League Baseball and you know, a very contentious times and 289 00:17:50,520 --> 00:17:53,399 Speaker 1: we reached an agreement. You know that eventually led to 290 00:17:53,560 --> 00:17:57,280 Speaker 1: decades of labor peace. So it can be done. You know, 291 00:17:57,359 --> 00:17:59,840 Speaker 1: we need to respect our players, the players of the game. 292 00:18:00,600 --> 00:18:03,840 Speaker 1: They are very very important. Uh. But you know, the 293 00:18:03,920 --> 00:18:07,200 Speaker 1: union has to understand that this is also a business 294 00:18:07,400 --> 00:18:11,919 Speaker 1: and we face some really challenging times and we have 295 00:18:12,000 --> 00:18:15,320 Speaker 1: to all negotiate and good faith. There's a lot of 296 00:18:15,359 --> 00:18:21,440 Speaker 1: good people, smart people, uh, on all sides, and you know, 297 00:18:21,840 --> 00:18:25,280 Speaker 1: we we we must must you reach an agreement. The 298 00:18:25,280 --> 00:18:31,560 Speaker 1: commissioner very seasoned labor negotiation Dan Haleum, very very season 299 00:18:31,640 --> 00:18:34,679 Speaker 1: labor negotiator. They're very very good people. They know what 300 00:18:34,720 --> 00:18:38,760 Speaker 1: they're doing. Tony Clark used to play for the Yankees. 301 00:18:39,160 --> 00:18:43,240 Speaker 1: He's a good man. He represents his players. You know, 302 00:18:43,320 --> 00:18:45,280 Speaker 1: we at the Yankees have a couple of players on 303 00:18:45,359 --> 00:18:48,560 Speaker 1: the on the executive committee, you know, Garrett Cole and 304 00:18:48,960 --> 00:18:52,600 Speaker 1: Zach Brittain, they're really smart guys and they get it. 305 00:18:53,200 --> 00:18:58,160 Speaker 1: So everybody, somebody has negotiated labor agreements for forty years. 306 00:18:58,200 --> 00:19:03,560 Speaker 1: Everybody's got to buckle up and try and compromise, do 307 00:19:03,720 --> 00:19:07,719 Speaker 1: it quietly, and get us an agreement that everybody can 308 00:19:07,760 --> 00:19:09,439 Speaker 1: live with, or as I used to say when I 309 00:19:09,440 --> 00:19:13,600 Speaker 1: practice label all the time, that everybody could be minimally unhappy. 310 00:19:13,640 --> 00:19:18,440 Speaker 1: But it seems like this is a topic we bring 311 00:19:18,560 --> 00:19:21,920 Speaker 1: up every time we talk about baseball and you talk 312 00:19:22,000 --> 00:19:26,320 Speaker 1: about people where it's very important with this game, especially 313 00:19:26,359 --> 00:19:29,879 Speaker 1: the minor league players. How do you see the long 314 00:19:30,000 --> 00:19:35,320 Speaker 1: term player development for the minor league system. I think 315 00:19:36,000 --> 00:19:41,000 Speaker 1: it very I think it's very positive. Uh. Major League 316 00:19:41,000 --> 00:19:46,159 Speaker 1: Baseball has taken some you know, really affirmative steps. Um, 317 00:19:46,320 --> 00:19:49,840 Speaker 1: they've reorganized the minor leagues. It's now right under it's 318 00:19:49,880 --> 00:19:54,119 Speaker 1: part of Major League Baseball. It's uh under the Commissioner's office. 319 00:19:54,200 --> 00:20:00,000 Speaker 1: There are executives who actually spend all your time doing it. Uh. 320 00:20:00,160 --> 00:20:04,040 Speaker 1: I think, uh, we've raised the money to pay We've 321 00:20:04,480 --> 00:20:09,639 Speaker 1: really serious about improving the working conditions. I think you 322 00:20:09,680 --> 00:20:14,640 Speaker 1: know there was a negotiation, uh to limit the number 323 00:20:14,680 --> 00:20:18,800 Speaker 1: of teams from one one twenty. I think after the pandemic, 324 00:20:19,600 --> 00:20:22,639 Speaker 1: many teams at a rough time making it so uh 325 00:20:23,560 --> 00:20:26,400 Speaker 1: uh we are at one twenty now. But now there 326 00:20:26,400 --> 00:20:30,240 Speaker 1: are different leagues. Baseball's affiliated with a bunch of independent 327 00:20:30,320 --> 00:20:33,480 Speaker 1: leagues have done great things, you know the Atlantic League 328 00:20:33,480 --> 00:20:37,399 Speaker 1: here where you know, uh, it's been used to experiment 329 00:20:37,560 --> 00:20:41,280 Speaker 1: with run around second or next trainings and uh the 330 00:20:41,440 --> 00:20:44,560 Speaker 1: electric strike zone. And there are a couple of the 331 00:20:44,680 --> 00:20:46,800 Speaker 1: independent leagues. So I think there's going to be a 332 00:20:46,840 --> 00:20:51,080 Speaker 1: wit and bat league for college players who are drafted. 333 00:20:51,640 --> 00:20:54,040 Speaker 1: So I think it's going to be very, very healthy 334 00:20:54,280 --> 00:20:59,359 Speaker 1: and hopefully more concise and better for the players. They'll 335 00:20:59,359 --> 00:21:04,200 Speaker 1: get more money and they will playing more safer, better conditions. 336 00:21:05,720 --> 00:21:08,159 Speaker 1: Randy under logistics guy in this group right here. So 337 00:21:08,280 --> 00:21:12,240 Speaker 1: when fans stop coming to start coming to Yankee Stadium, 338 00:21:12,480 --> 00:21:15,240 Speaker 1: is it going to be a long process to get 339 00:21:15,280 --> 00:21:18,040 Speaker 1: into the ballpark? Um? I've read that they have to 340 00:21:18,040 --> 00:21:21,000 Speaker 1: have a negative COVID test within seventy two hours. How 341 00:21:21,080 --> 00:21:24,280 Speaker 1: was all that stuff documented proven to allow people a 342 00:21:24,400 --> 00:21:27,040 Speaker 1: smooth and entrance, sooth entrance in a smooth exit the 343 00:21:27,119 --> 00:21:31,720 Speaker 1: Yankee Stadium. Well, again, those are the things where as 344 00:21:31,760 --> 00:21:36,160 Speaker 1: I said, we're negotiating, uh and discussing I guess negotiations 345 00:21:36,200 --> 00:21:39,840 Speaker 1: not the right where we're discussing with the state right now. 346 00:21:40,600 --> 00:21:44,119 Speaker 1: But you know, Yankee Stadium is extraordinarily accessible. Uh, I 347 00:21:44,160 --> 00:21:46,840 Speaker 1: don't know if you guys know there is uh a 348 00:21:46,880 --> 00:21:49,480 Speaker 1: twenty four hour We just started twenty four we're going 349 00:21:49,520 --> 00:21:52,320 Speaker 1: to start this weekend. We've we've been running a vaccine 350 00:21:52,359 --> 00:21:55,480 Speaker 1: center which I think is the most successful one in 351 00:21:55,600 --> 00:21:59,320 Speaker 1: New York City maybe the state, where we've been vacating 352 00:21:59,440 --> 00:22:03,080 Speaker 1: thousands of people, bringing them in, vaccinating them, getting them 353 00:22:03,080 --> 00:22:05,640 Speaker 1: out safely. And that's going to go to twenty four 354 00:22:05,680 --> 00:22:09,480 Speaker 1: hours over and I believe on Friday, so we know 355 00:22:09,560 --> 00:22:13,920 Speaker 1: how to do it. Um again for an outdoor stadium 356 00:22:13,920 --> 00:22:17,119 Speaker 1: baseball there there's been no set rules yet. The rules 357 00:22:17,119 --> 00:22:20,360 Speaker 1: you were discussing, uh, you know are really in effect 358 00:22:20,400 --> 00:22:24,000 Speaker 1: for indoor venues. They may be effect here, but nobody's 359 00:22:24,040 --> 00:22:28,280 Speaker 1: told us that for sure. And just yesterday there were 360 00:22:28,320 --> 00:22:32,040 Speaker 1: reports that the state has a app called the Excelsior 361 00:22:32,160 --> 00:22:35,920 Speaker 1: RAPP where you will be able to an effect show 362 00:22:36,000 --> 00:22:38,960 Speaker 1: that you've vaccinated, which can easily get you in, or 363 00:22:39,000 --> 00:22:43,000 Speaker 1: you've had a COVID test and it will get you in. 364 00:22:43,640 --> 00:22:46,280 Speaker 1: So those are the details we're talking about. I mean, 365 00:22:46,320 --> 00:22:50,680 Speaker 1: we're we're as we've handled the Vaccine Center as any 366 00:22:50,840 --> 00:22:53,920 Speaker 1: minting Yankee stadium. You know, we know how to handle people. 367 00:22:54,040 --> 00:22:56,840 Speaker 1: We know how to treat our customers and our fans. 368 00:22:56,880 --> 00:22:59,000 Speaker 1: Get them in, get them in safe, do it in 369 00:22:59,480 --> 00:23:02,639 Speaker 1: a respect away. So we'll make it happen. But I 370 00:23:02,720 --> 00:23:05,439 Speaker 1: can't speak to the specifics until I know what the 371 00:23:05,520 --> 00:23:08,600 Speaker 1: specifics are. And we're not there yet, you know, Randy, 372 00:23:08,640 --> 00:23:11,040 Speaker 1: I feel like on the other side of the pandemic, 373 00:23:11,160 --> 00:23:14,760 Speaker 1: everyone who runs a business is thinking about how they're 374 00:23:14,760 --> 00:23:18,320 Speaker 1: going to run that business differently. Lessons learned. Uh, in 375 00:23:18,400 --> 00:23:22,000 Speaker 1: some ways, you are I would say, we are in 376 00:23:22,040 --> 00:23:24,000 Speaker 1: the business of sports show, one of the most important 377 00:23:24,040 --> 00:23:27,720 Speaker 1: businesses in New York City, the region, you know, maybe 378 00:23:27,720 --> 00:23:31,560 Speaker 1: the country. How does your business change going forward? How 379 00:23:31,560 --> 00:23:35,879 Speaker 1: do you operate differently when we get back to something 380 00:23:35,960 --> 00:23:40,040 Speaker 1: that's a normal world. What have you learned? You know, 381 00:23:40,080 --> 00:23:42,680 Speaker 1: we've learned an awful lot. I personally learned a lot. 382 00:23:42,840 --> 00:23:45,920 Speaker 1: I mean, obviously people are not in the office, so 383 00:23:46,400 --> 00:23:51,400 Speaker 1: through technology, we learned different ways of communication that can 384 00:23:51,440 --> 00:23:54,720 Speaker 1: be you know, pretty effective. We learned that, you know, 385 00:23:55,560 --> 00:23:58,240 Speaker 1: maybe it's a better use of time in certain areas, 386 00:23:58,280 --> 00:24:01,119 Speaker 1: where people don't have to, you know, come to a 387 00:24:01,240 --> 00:24:03,760 Speaker 1: meeting life maybe you can save time and do it 388 00:24:03,840 --> 00:24:11,600 Speaker 1: just as efficiently by using technology. Um, different people because 389 00:24:11,680 --> 00:24:15,639 Speaker 1: of you know, the pandemic and the fact that we 390 00:24:15,760 --> 00:24:20,560 Speaker 1: had alter our staffing. You know, different people have different skills. 391 00:24:20,600 --> 00:24:24,600 Speaker 1: So I think you have people who are now able 392 00:24:24,640 --> 00:24:28,000 Speaker 1: to to do things that maybe in the past they 393 00:24:28,000 --> 00:24:31,440 Speaker 1: didn't think they could. Now they feel confident that they can. 394 00:24:32,160 --> 00:24:34,560 Speaker 1: I think obviously, you know, all of us had to 395 00:24:34,680 --> 00:24:38,840 Speaker 1: roll up our sleeves and reassess our expense side of 396 00:24:39,040 --> 00:24:42,760 Speaker 1: things to make sure we were not wasting money and 397 00:24:42,760 --> 00:24:45,320 Speaker 1: we're spending you know, every dollar was being spent in 398 00:24:45,359 --> 00:24:48,280 Speaker 1: the most productive way and get the full bank for 399 00:24:48,320 --> 00:24:51,040 Speaker 1: the buck. Uh. So I think we've learned a lot 400 00:24:51,320 --> 00:24:56,040 Speaker 1: about that. I think, uh uh, we've learned a lot 401 00:24:56,280 --> 00:24:59,320 Speaker 1: how to communicate with our fans and had to stay 402 00:24:59,320 --> 00:25:03,800 Speaker 1: in touch, you know, especially last year where they couldn't 403 00:25:03,840 --> 00:25:06,919 Speaker 1: you come to the ballpark. How do you do it 404 00:25:06,960 --> 00:25:09,760 Speaker 1: in other ways, whether it be through social media, through 405 00:25:09,960 --> 00:25:15,600 Speaker 1: your television networks, through radio, through oh host away. So 406 00:25:16,359 --> 00:25:19,159 Speaker 1: I think it was it was a learning experience, not 407 00:25:19,280 --> 00:25:22,880 Speaker 1: only for our business, I mean old businesses have changed 408 00:25:23,480 --> 00:25:27,720 Speaker 1: and we learned a lot of lessons and now the 409 00:25:28,119 --> 00:25:30,160 Speaker 1: important thing is how do we put him into practice. 410 00:25:31,280 --> 00:25:33,720 Speaker 1: I know we talked about business on this show, but 411 00:25:33,960 --> 00:25:37,160 Speaker 1: I have to give a shout out to the manager, 412 00:25:37,440 --> 00:25:41,880 Speaker 1: Aaron Boone, and he had a procedure to get a pacemaker. Uh, 413 00:25:41,920 --> 00:25:44,639 Speaker 1: and he is on the men right now. Can you 414 00:25:44,720 --> 00:25:48,040 Speaker 1: talk more about that and what Aaron Boone means to 415 00:25:48,119 --> 00:25:52,800 Speaker 1: the team. Well, thank you for asking. I texted with 416 00:25:52,880 --> 00:25:58,600 Speaker 1: him last evening and he assured me he was feeling great. Uh. 417 00:25:58,640 --> 00:26:02,280 Speaker 1: Everybody says that his procedure went great, expects to be 418 00:26:02,440 --> 00:26:06,080 Speaker 1: back in a couple of days. Well, yeah, he's Uh, 419 00:26:06,240 --> 00:26:10,280 Speaker 1: he's you know, the leader of on the field. He's 420 00:26:10,359 --> 00:26:14,199 Speaker 1: a wonderful, wonderful person, you know, very very good person. 421 00:26:15,200 --> 00:26:19,240 Speaker 1: Loves his players, you know, loves the organization. Sorry. Uh, 422 00:26:19,440 --> 00:26:21,360 Speaker 1: up there in Boston hit one of the greatest home 423 00:26:21,440 --> 00:26:27,399 Speaker 1: runs of all time the Yankees, and at the end 424 00:26:27,440 --> 00:26:29,840 Speaker 1: of the day, we just are so happy that he 425 00:26:30,000 --> 00:26:32,200 Speaker 1: came out of it. Well, and thank you so much 426 00:26:32,240 --> 00:26:35,600 Speaker 1: for asking. I remember, like it was yesterday off Tim 427 00:26:35,640 --> 00:26:39,040 Speaker 1: Wakefield to walk off homer American League Championship Series. He 428 00:26:39,119 --> 00:26:41,800 Speaker 1: is a good man. Everybody thinks very highly, not only 429 00:26:41,840 --> 00:26:45,480 Speaker 1: in Boston but certainly around the baseball world. Um, make 430 00:26:45,520 --> 00:26:49,120 Speaker 1: goods with sponsors, Randy from last year. Obviously last year 431 00:26:49,200 --> 00:26:51,159 Speaker 1: was not the same value you would get with a 432 00:26:51,240 --> 00:26:54,639 Speaker 1: hundred and sixty two games. Schedule our sponsors hanging in 433 00:26:54,680 --> 00:26:57,000 Speaker 1: there or they sort of us, you know, waiting on 434 00:26:57,040 --> 00:26:58,800 Speaker 1: the outside, going to dip their toes in the water 435 00:26:58,840 --> 00:27:01,600 Speaker 1: and say, let me see how this thing goes. At first, both, 436 00:27:02,160 --> 00:27:05,080 Speaker 1: I mean there's a certain sponsors who you know, we 437 00:27:05,160 --> 00:27:08,480 Speaker 1: have long term relationships. Of course, we have to be fair, 438 00:27:08,680 --> 00:27:11,160 Speaker 1: you negotiate. If they didn't get what they paid for, 439 00:27:11,720 --> 00:27:14,560 Speaker 1: then uh, you know, we're fair to them. You know, 440 00:27:14,600 --> 00:27:18,440 Speaker 1: others just you know, stay the course, you know, roll 441 00:27:18,520 --> 00:27:21,480 Speaker 1: over the business. And then you know, there are certain sponsors. 442 00:27:21,520 --> 00:27:26,280 Speaker 1: We have sponsors here, the Yankees, um, you know, big, small, whatever, 443 00:27:26,400 --> 00:27:28,520 Speaker 1: and you know, like every business, there are some who 444 00:27:28,600 --> 00:27:33,080 Speaker 1: just you know, had serious, serious economic issues themselves and 445 00:27:33,160 --> 00:27:36,119 Speaker 1: just couldn't you know, go on. So it's a mixture 446 00:27:36,160 --> 00:27:38,760 Speaker 1: of both. We try to be very reasonable. We have 447 00:27:38,880 --> 00:27:43,200 Speaker 1: long term relationships. Um, you know, we've also got new sponsors, 448 00:27:43,240 --> 00:27:45,720 Speaker 1: you know, I mean, as you guys know, you know, 449 00:27:46,440 --> 00:27:50,679 Speaker 1: this whole pandemic one of the few bright spots of 450 00:27:50,760 --> 00:27:53,639 Speaker 1: it is there are other businesses that are emerged, different 451 00:27:53,720 --> 00:27:58,240 Speaker 1: kind of businesses who now, you know, I want to 452 00:27:58,280 --> 00:28:02,400 Speaker 1: find partners with in such as us in order to 453 00:28:02,440 --> 00:28:05,359 Speaker 1: get themselves better. Not so, I think it's going to 454 00:28:05,480 --> 00:28:07,720 Speaker 1: be as they said, it's going to be very transitional 455 00:28:07,760 --> 00:28:10,240 Speaker 1: over the next couple of years. See what happens. It's 456 00:28:10,280 --> 00:28:13,320 Speaker 1: not only about us, It's about the overall economy and 457 00:28:13,320 --> 00:28:18,040 Speaker 1: about those individual business and so Randy. You know, when 458 00:28:18,040 --> 00:28:22,879 Speaker 1: you think about what we know now about consumption of 459 00:28:22,920 --> 00:28:26,119 Speaker 1: the game. Obviously since we couldn't go to a stadium 460 00:28:26,240 --> 00:28:28,800 Speaker 1: last year, we were all watching on TV or you know, 461 00:28:28,880 --> 00:28:33,280 Speaker 1: maybe old schoolers like us listening listening on the radio. Um, 462 00:28:33,320 --> 00:28:37,119 Speaker 1: but what does that portend, especially when you think about 463 00:28:37,600 --> 00:28:41,240 Speaker 1: streaming services, you think about sort of broadcast and cable 464 00:28:41,280 --> 00:28:44,840 Speaker 1: and all of that. How will those agreements, How will 465 00:28:44,880 --> 00:28:49,520 Speaker 1: the business of broadcasting and games and the sport of baseball? 466 00:28:49,840 --> 00:28:51,760 Speaker 1: How's that going to evolve in the short and midterm 467 00:28:51,760 --> 00:28:57,040 Speaker 1: in your estimation, that's a very complex question. So let 468 00:28:57,000 --> 00:29:00,360 Speaker 1: me see if I can take it in and and 469 00:29:01,680 --> 00:29:05,640 Speaker 1: different branches. First, as to you know, we've all seen 470 00:29:06,240 --> 00:29:09,680 Speaker 1: I think that you know, there has been an erosion 471 00:29:09,920 --> 00:29:15,400 Speaker 1: in in the classic cable satellite model, and people, especially 472 00:29:15,440 --> 00:29:19,920 Speaker 1: young people you know, UH, really are on their devices. 473 00:29:20,000 --> 00:29:24,080 Speaker 1: So I think you're going to see a larger movement 474 00:29:24,160 --> 00:29:31,280 Speaker 1: to streaming UH and and alternate UH uses of of 475 00:29:31,400 --> 00:29:35,040 Speaker 1: devices in order to get games, whether they're on traditional 476 00:29:35,120 --> 00:29:38,960 Speaker 1: cable or satellite, how they'll be stream And the challenge 477 00:29:39,000 --> 00:29:42,440 Speaker 1: all of us have, everybody in the industry is how 478 00:29:42,480 --> 00:29:47,640 Speaker 1: do you manage that? When we purchased back the Yes network, UH, 479 00:29:47,800 --> 00:29:50,680 Speaker 1: we had partners. Our partners are you know, in addition 480 00:29:50,720 --> 00:29:54,160 Speaker 1: to our financial partners, we have Sinclair who is very 481 00:29:54,160 --> 00:29:57,840 Speaker 1: strong in the linear business, and Amazon, who was one 482 00:29:57,880 --> 00:30:01,000 Speaker 1: of the leaders in the digital business. To just try 483 00:30:01,040 --> 00:30:04,520 Speaker 1: and manage our way through this. And I think the 484 00:30:04,560 --> 00:30:13,440 Speaker 1: pandemic has accelerated, UH the timeline for the combination of 485 00:30:14,000 --> 00:30:17,120 Speaker 1: digital as well as linear and all of us in 486 00:30:17,120 --> 00:30:22,239 Speaker 1: this business, whether it's baseball or or football or you know, 487 00:30:22,280 --> 00:30:25,080 Speaker 1: you're on the cable side, the TV network side, the 488 00:30:25,600 --> 00:30:30,320 Speaker 1: streaming service side, everybody's dealing with this, and everybody's gonna 489 00:30:31,040 --> 00:30:34,520 Speaker 1: feel a way through this and hopefully we all come 490 00:30:34,600 --> 00:30:37,960 Speaker 1: up with better products and come up with systems that 491 00:30:38,200 --> 00:30:44,880 Speaker 1: can work for everybody. As far as baseball itself, I think, uh, baseball, 492 00:30:45,200 --> 00:30:51,960 Speaker 1: we're trying very very hard. UM has to get UM 493 00:30:52,320 --> 00:30:56,120 Speaker 1: a wider viewership and more acceptance. Uh and and the 494 00:30:56,200 --> 00:31:00,240 Speaker 1: younger demographic. UM, we're trying hard to be what the earth. 495 00:31:01,080 --> 00:31:05,960 Speaker 1: I think, uh baseball skews a little uh higher in age, 496 00:31:06,480 --> 00:31:09,080 Speaker 1: and I think that's our challenging. Commission has put a 497 00:31:09,120 --> 00:31:11,560 Speaker 1: lot of money and a lot of effort into as 498 00:31:11,600 --> 00:31:16,200 Speaker 1: of the clubs, into getting younger, getting younger fans, and 499 00:31:16,320 --> 00:31:20,960 Speaker 1: that ties into social media and the appetite you know, 500 00:31:21,000 --> 00:31:25,680 Speaker 1: better highlights, cooler shows, you know, better left for somebody 501 00:31:26,040 --> 00:31:28,720 Speaker 1: who's more cool than I am, you know, to try 502 00:31:28,720 --> 00:31:32,880 Speaker 1: and reach that that younger audience because I think that 503 00:31:33,560 --> 00:31:36,400 Speaker 1: we need to get our audience younger. We need to 504 00:31:36,440 --> 00:31:40,560 Speaker 1: be more the first, and we need to highlight our 505 00:31:40,640 --> 00:31:43,640 Speaker 1: players more. We got great players and they have great stories. 506 00:31:44,320 --> 00:31:48,480 Speaker 1: And you know, baseball is a different game than football 507 00:31:48,720 --> 00:31:51,760 Speaker 1: or some of the other sports because we play every 508 00:31:51,800 --> 00:31:54,600 Speaker 1: day for six months, seven months, and you know, it's 509 00:31:54,640 --> 00:31:58,360 Speaker 1: an ongoing X self opera and there's a lot of games, 510 00:31:58,400 --> 00:32:01,440 Speaker 1: a lot of product. There's a real effort to shorten 511 00:32:01,480 --> 00:32:03,280 Speaker 1: some of these games. You know, I think four hour 512 00:32:03,360 --> 00:32:06,960 Speaker 1: games people lose their interests. So we've done a lot 513 00:32:06,960 --> 00:32:09,600 Speaker 1: of stuff to try and shorten the game. So we're 514 00:32:09,640 --> 00:32:12,040 Speaker 1: working hard on it. You know, you talk about shortening 515 00:32:12,120 --> 00:32:15,960 Speaker 1: up the game and if COVID brought anything positive of 516 00:32:16,000 --> 00:32:20,520 Speaker 1: the baseball and it happened last season, it's the seven 517 00:32:20,600 --> 00:32:23,920 Speaker 1: inning double header, and I think that's a great idea, 518 00:32:24,160 --> 00:32:26,600 Speaker 1: and I just want to know your thoughts about that. 519 00:32:27,600 --> 00:32:29,600 Speaker 1: I like, I like it a lot. I liked all 520 00:32:29,600 --> 00:32:32,680 Speaker 1: of the changes last year. Me personally, I thought the 521 00:32:32,920 --> 00:32:36,240 Speaker 1: UH double headers were great. I like the idea of 522 00:32:36,480 --> 00:32:39,760 Speaker 1: the next endings guy on second base. I thought all 523 00:32:39,800 --> 00:32:42,800 Speaker 1: of the changes we're really good. I really did, and 524 00:32:42,840 --> 00:32:46,320 Speaker 1: I think they worked. I think our fans like them. 525 00:32:46,360 --> 00:32:48,760 Speaker 1: And so follow me up on that, well, they do. 526 00:32:48,800 --> 00:32:52,280 Speaker 1: You think they might be UH up for negotiations to 527 00:32:52,680 --> 00:32:57,080 Speaker 1: be held permanently after that's going to be all in 528 00:32:57,160 --> 00:33:01,719 Speaker 1: the collective parton negotiations all in the CPA. And I 529 00:33:01,720 --> 00:33:04,480 Speaker 1: think you know, from again, I'm this is not scientific, 530 00:33:04,560 --> 00:33:08,520 Speaker 1: but from everything I've heard, I think the players like, yeah, 531 00:33:08,640 --> 00:33:11,440 Speaker 1: certainly said I mean that if just just based on 532 00:33:11,520 --> 00:33:15,880 Speaker 1: the very unscientific social media engage, and it felt like 533 00:33:16,560 --> 00:33:19,200 Speaker 1: it felt like that, you know, Randy, which which actually 534 00:33:19,280 --> 00:33:20,640 Speaker 1: you know, leads to something I wanted to make sure 535 00:33:20,640 --> 00:33:22,080 Speaker 1: we talked about, which is, you know, sort of the 536 00:33:22,160 --> 00:33:24,800 Speaker 1: voice of the of the players. It's obviously been amplified 537 00:33:24,840 --> 00:33:27,840 Speaker 1: by social media. It's been amplified, you know, sort of 538 00:33:27,880 --> 00:33:31,600 Speaker 1: across the board in professional leagues, at the college leagues. 539 00:33:31,680 --> 00:33:34,880 Speaker 1: You know, We've gotten to spend some time in the 540 00:33:34,880 --> 00:33:37,280 Speaker 1: past couple of months with Curtis Granderson and some of 541 00:33:37,320 --> 00:33:40,440 Speaker 1: his colleagues working with the Players Alliance about you know, 542 00:33:41,160 --> 00:33:45,040 Speaker 1: different voices being heard and heard louder when it comes to, 543 00:33:45,360 --> 00:33:50,160 Speaker 1: you know, issues of fairness and equality. What has baseball done? 544 00:33:50,360 --> 00:33:53,200 Speaker 1: What do you think the Yankees specifically need to keep 545 00:33:53,280 --> 00:33:56,640 Speaker 1: doing in order to ensure that, you know, the right 546 00:33:56,720 --> 00:34:01,680 Speaker 1: voices are heard at the right volume. That's a great point. 547 00:34:01,720 --> 00:34:05,760 Speaker 1: I think the commissioner is, you know, we we have 548 00:34:05,880 --> 00:34:10,360 Speaker 1: a great relationship with the Players Alliance. Uh. And and 549 00:34:10,440 --> 00:34:13,520 Speaker 1: they should be heard. I mean everybody should be heard, 550 00:34:13,600 --> 00:34:16,799 Speaker 1: and they you know, Curtis Grandison, you know, I used 551 00:34:16,840 --> 00:34:20,000 Speaker 1: to play for the Yankees. I mean, he's a very articulate, 552 00:34:20,880 --> 00:34:24,640 Speaker 1: strong voice, and and he has a lot of positive 553 00:34:24,920 --> 00:34:28,640 Speaker 1: good things to say. And we should listen to him. 554 00:34:28,680 --> 00:34:31,640 Speaker 1: I mean us at the Yankees, we have a diversity 555 00:34:31,640 --> 00:34:35,760 Speaker 1: committee that is uh been in place. We have all 556 00:34:36,080 --> 00:34:38,360 Speaker 1: leaders of the community on it. You know, we have 557 00:34:38,680 --> 00:34:41,920 Speaker 1: uh Spike Lee is on it and uh C C. 558 00:34:42,080 --> 00:34:46,719 Speaker 1: Sabathia and Marcus tims At, Reggie Jackson and you know, 559 00:34:47,400 --> 00:34:53,520 Speaker 1: uh really Brian Smith are Vice president of the Community Affairs, 560 00:34:53,560 --> 00:34:57,680 Speaker 1: does an incredible job. Uh. You know, just recently we 561 00:34:58,280 --> 00:35:00,520 Speaker 1: reached an agreement with the City and a Versity of 562 00:35:00,600 --> 00:35:06,080 Speaker 1: New York where we established an internship program for students 563 00:35:06,200 --> 00:35:10,040 Speaker 1: at the Yankees, for students of the City of New 564 00:35:10,080 --> 00:35:13,560 Speaker 1: York to intern and eventually get jobs here with the Yankees. 565 00:35:13,680 --> 00:35:17,680 Speaker 1: You know, give us some more diverse group to to 566 00:35:17,880 --> 00:35:23,000 Speaker 1: hire from. So you know, these are important, important voices. Uh, 567 00:35:23,120 --> 00:35:27,799 Speaker 1: these are important issues to be discussed out in the 568 00:35:27,880 --> 00:35:32,520 Speaker 1: open for us to listen, listen carefully and change our behavior. 569 00:35:32,680 --> 00:35:36,520 Speaker 1: I mean, then that's what we're trying to do. Well, Randy, Uh, 570 00:35:36,560 --> 00:35:39,040 Speaker 1: it's always good to catch up with you, and you know, 571 00:35:39,160 --> 00:35:41,480 Speaker 1: talking with you about the season. You know, the sun 572 00:35:41,600 --> 00:35:43,839 Speaker 1: is out, you know, sitting here in New York as well, 573 00:35:44,040 --> 00:35:46,320 Speaker 1: the sun is out. It's getting a little bit warmer, 574 00:35:46,360 --> 00:35:48,920 Speaker 1: not so warm today, but you know, it does feel 575 00:35:48,960 --> 00:35:53,279 Speaker 1: like baseball is is coming back, and as you say, 576 00:35:53,400 --> 00:35:55,799 Speaker 1: it is something I know. I can speak for all 577 00:35:55,840 --> 00:35:58,000 Speaker 1: of us and say that it always makes us feel 578 00:35:58,000 --> 00:36:00,359 Speaker 1: a little bit better when when opening Day is around 579 00:36:00,400 --> 00:36:04,080 Speaker 1: the corners. So thanks to you, best of luck. Um, 580 00:36:04,120 --> 00:36:06,239 Speaker 1: I can't say that everyone in this call is like 581 00:36:06,280 --> 00:36:09,640 Speaker 1: an avid you know, avidly rooting for for the Yankees. 582 00:36:09,800 --> 00:36:14,279 Speaker 1: But listen, listen, that's what makes it fun, right, that's 583 00:36:14,280 --> 00:36:17,120 Speaker 1: what that's what that's what it is. And you know 584 00:36:17,239 --> 00:36:20,719 Speaker 1: those right these times a year when it's getting a 585 00:36:20,719 --> 00:36:23,800 Speaker 1: little warmer and and the day's getting a little longer, 586 00:36:23,920 --> 00:36:26,160 Speaker 1: we just love to hear those two where it's play ball. 587 00:36:26,320 --> 00:36:29,280 Speaker 1: So that's where we are, guys, and I always enjoyed 588 00:36:29,360 --> 00:36:32,520 Speaker 1: being with you, and please stay well, stay healthy, and 589 00:36:32,560 --> 00:36:35,920 Speaker 1: I look forward to, yeah, look forward to seeing you 590 00:36:35,960 --> 00:36:38,120 Speaker 1: at the ballpark and at some point it's a very 591 00:36:38,160 --> 00:36:41,520 Speaker 1: special places you know better than anyone. Thanks again, Randy. So, guys, 592 00:36:41,520 --> 00:36:43,840 Speaker 1: always good to catch up with Rady Levin obviously timely 593 00:36:44,200 --> 00:36:46,359 Speaker 1: given that we are going to see baseball and it's 594 00:36:46,400 --> 00:36:49,400 Speaker 1: not going to be totally normal, as he certainly described, 595 00:36:49,400 --> 00:36:52,719 Speaker 1: and it's a work in progress. Um, but listen, life's 596 00:36:52,719 --> 00:36:56,839 Speaker 1: of work in progress, especially these days, but certainly a 597 00:36:56,880 --> 00:37:02,200 Speaker 1: lot more optimism given that we will see fingers cross 598 00:37:02,239 --> 00:37:07,480 Speaker 1: fans in the seats. And I was interested to hear 599 00:37:07,520 --> 00:37:12,200 Speaker 1: how candid he was, even from the perspective of saying, listen, 600 00:37:12,480 --> 00:37:14,840 Speaker 1: it was brutal for our business. There's no getting around it. 601 00:37:14,840 --> 00:37:16,880 Speaker 1: And you know, and as he pointed out, I mean 602 00:37:16,920 --> 00:37:20,160 Speaker 1: it's sort of like, uh, a kind of interesting, almost 603 00:37:20,160 --> 00:37:22,920 Speaker 1: like backwards flex. He's like, we're the biggest revenue generator, 604 00:37:23,080 --> 00:37:25,160 Speaker 1: so we lost the most revenue. I mean, it is 605 00:37:25,160 --> 00:37:30,240 Speaker 1: the Yankees after all. Par Yeah, it's again when COVID 606 00:37:30,360 --> 00:37:33,960 Speaker 1: just slammed baseball in all the sports obviously, but it 607 00:37:34,160 --> 00:37:37,680 Speaker 1: just really slammed baseball. And I one thing that I 608 00:37:37,760 --> 00:37:41,400 Speaker 1: really like that Randy brought up when he talked about 609 00:37:41,480 --> 00:37:43,880 Speaker 1: the love of baseball, and I was thinking about this 610 00:37:44,320 --> 00:37:48,080 Speaker 1: is I take the FDR home every day, and as 611 00:37:48,120 --> 00:37:50,799 Speaker 1: I'm driving on it, I'm heading to the George Washington Bridge. 612 00:37:50,800 --> 00:37:53,000 Speaker 1: At the g w B, I'll turn my head to 613 00:37:53,040 --> 00:37:56,040 Speaker 1: the right and I'll see Yankee Stadium and I'm like, Wow, 614 00:37:56,080 --> 00:37:58,640 Speaker 1: that's Yankee Stadium. And then some guy cuts me off 615 00:37:58,640 --> 00:38:02,040 Speaker 1: and I'm yelling at I'm just doing But it's when 616 00:38:02,120 --> 00:38:08,080 Speaker 1: I get home I realized that's Yankee Stadium. That's the 617 00:38:08,120 --> 00:38:12,879 Speaker 1: money generator in baseball right there. And and I don't 618 00:38:12,920 --> 00:38:15,200 Speaker 1: think about it sometimes because we take it for granted. 619 00:38:15,239 --> 00:38:18,520 Speaker 1: But that's the whole point. Don't take it for granted. 620 00:38:18,600 --> 00:38:24,160 Speaker 1: COVID last season highlighting that. So Letchie, you know the 621 00:38:24,200 --> 00:38:27,120 Speaker 1: other thing that he said that that really struck me, 622 00:38:27,160 --> 00:38:30,080 Speaker 1: and I'm guessing it struck you as well. Is this notion, 623 00:38:30,120 --> 00:38:32,239 Speaker 1: because we talked about it a lot last summer, is 624 00:38:32,280 --> 00:38:34,719 Speaker 1: like could have done better with the players in terms 625 00:38:34,719 --> 00:38:38,200 Speaker 1: of getting back back on the field. I love this 626 00:38:38,280 --> 00:38:40,160 Speaker 1: phrase he said, you know at the end of the day, well, 627 00:38:41,080 --> 00:38:45,319 Speaker 1: I'd like everyone to be minimally unhappy. And uh, that 628 00:38:45,360 --> 00:38:47,200 Speaker 1: was a pretty good way of putting it. You can't 629 00:38:47,239 --> 00:38:49,759 Speaker 1: always get what you want, is a Mick Jagger once saying. 630 00:38:49,840 --> 00:38:52,040 Speaker 1: And I think that's going to have to be the 631 00:38:52,080 --> 00:38:55,400 Speaker 1: temperament going into this labor negotiations at the end of 632 00:38:55,400 --> 00:38:58,120 Speaker 1: this year. This is a big, big one because if 633 00:38:58,120 --> 00:39:00,960 Speaker 1: there's ever been a time for intolerance of the people 634 00:39:01,440 --> 00:39:04,239 Speaker 1: hearing millionaires wine, this is it right now. So they 635 00:39:04,280 --> 00:39:06,720 Speaker 1: really need to be and not make it so public 636 00:39:06,760 --> 00:39:08,399 Speaker 1: was another point. He said, it could have been done 637 00:39:08,440 --> 00:39:11,120 Speaker 1: the luck quieter than it was last year and people 638 00:39:11,239 --> 00:39:14,719 Speaker 1: you know that were losing their jobs and losing family members. Uh, 639 00:39:14,760 --> 00:39:17,160 Speaker 1: I didn't want to hear, you know, major League Baseball 640 00:39:17,160 --> 00:39:20,719 Speaker 1: players whining, millionaires whining. And so this is going to 641 00:39:20,800 --> 00:39:22,640 Speaker 1: be This is a big year on the field, and 642 00:39:22,680 --> 00:39:24,840 Speaker 1: it's going to be a huge year off the field. 643 00:39:25,520 --> 00:39:28,239 Speaker 1: Monroe's will be one picks. I'm not in germ d. 644 00:39:28,320 --> 00:39:30,200 Speaker 1: It feels better to be number one than number five. 645 00:39:30,239 --> 00:39:31,840 Speaker 1: I'll wear a number because of Mike. We have a 646 00:39:31,920 --> 00:39:33,720 Speaker 1: chance to go for three in a row. Good numbers 647 00:39:33,719 --> 00:39:35,880 Speaker 1: is a good time. When I first started wearing the number. 648 00:39:35,960 --> 00:39:39,120 Speaker 1: How we just have been proud Bloomberg Business of Sports. 649 00:39:39,160 --> 00:39:43,840 Speaker 1: The number of the week, Well, baseball is back, and 650 00:39:44,120 --> 00:39:48,000 Speaker 1: for our show's purposes, as you have heard, bar is back, 651 00:39:48,080 --> 00:39:50,200 Speaker 1: which means the number of the week is back. So 652 00:39:51,400 --> 00:39:54,920 Speaker 1: my weekly torture begins. Go ahead, bar Hi, guys missed me. 653 00:39:57,800 --> 00:39:59,920 Speaker 1: This is a story out of the New York Times. 654 00:40:00,600 --> 00:40:04,520 Speaker 1: The overtime Elite League. You're proposing that they provide a 655 00:40:04,520 --> 00:40:07,359 Speaker 1: salary and a focus toward a pro career that might 656 00:40:07,400 --> 00:40:11,279 Speaker 1: be more appealing than college basketball's biggest programs. Now, the 657 00:40:11,320 --> 00:40:14,960 Speaker 1: new basketball league, backed by a sports media company, is 658 00:40:15,120 --> 00:40:19,360 Speaker 1: entering the debate over whether student athletes should be paid 659 00:40:20,000 --> 00:40:26,200 Speaker 1: by starting a new venture offering high school basketball players. Stop, 660 00:40:26,440 --> 00:40:29,439 Speaker 1: that's where the blank just like the match game this 661 00:40:29,520 --> 00:40:33,040 Speaker 1: year in annual salaries. So it's set up for them 662 00:40:33,040 --> 00:40:35,520 Speaker 1: if they want to skip college. How much are they 663 00:40:35,600 --> 00:40:44,160 Speaker 1: offering for money annually for these kids to play basketball 664 00:40:44,280 --> 00:40:48,120 Speaker 1: in this league? All right? Oh my god, the world 665 00:40:48,239 --> 00:40:52,560 Speaker 1: is just tilting my way. I read this story. The 666 00:40:52,640 --> 00:40:55,839 Speaker 1: answer this is so exciting. Hundred thousand dollars a year. 667 00:40:57,840 --> 00:41:04,560 Speaker 1: I'm point nine nine. How's that? Well, somebody's coming up 668 00:41:04,600 --> 00:41:08,680 Speaker 1: on stage and getting the hundred dollar bonus. Yes, Jason, 669 00:41:08,800 --> 00:41:14,080 Speaker 1: you are exactly right, one hundred thousand dollars annually. I'm 670 00:41:14,200 --> 00:41:18,279 Speaker 1: just wondering how that's going to work out. So I 671 00:41:18,680 --> 00:41:21,520 Speaker 1: have to say I that caught me up short a 672 00:41:21,560 --> 00:41:25,239 Speaker 1: little bit in the sense of listen, we've talked a 673 00:41:25,239 --> 00:41:29,560 Speaker 1: ton about this on this show and elsewhere. The economics 674 00:41:29,640 --> 00:41:34,560 Speaker 1: of college sports are fundamentally broken. I don't think it's 675 00:41:34,600 --> 00:41:38,839 Speaker 1: hard to argue otherwise. Um, but that's that's pretty rich. 676 00:41:39,480 --> 00:41:41,399 Speaker 1: In a lot of ways and and I and I 677 00:41:41,440 --> 00:41:42,960 Speaker 1: think and I don't know if you mentioned this bar 678 00:41:43,000 --> 00:41:45,239 Speaker 1: because I was too busy, like getting excited about getting 679 00:41:45,239 --> 00:41:49,719 Speaker 1: the right answer. Um, but they will if you don't 680 00:41:49,800 --> 00:41:52,320 Speaker 1: ultimately sort of make it to the pros. They will 681 00:41:53,080 --> 00:41:56,319 Speaker 1: also fund your education to right, some of that money 682 00:41:56,360 --> 00:41:59,759 Speaker 1: will go go towards education. So I mean, listen, it 683 00:41:59,880 --> 00:42:02,600 Speaker 1: is a system that needs to be fixed. Whether this 684 00:42:02,719 --> 00:42:05,000 Speaker 1: is the way to fix it, I don't know, Lynchy, 685 00:42:05,200 --> 00:42:09,279 Speaker 1: but something needs to be done. Yeah, I'm just just 686 00:42:10,040 --> 00:42:11,840 Speaker 1: google this story right now and I'm looking at it. 687 00:42:11,920 --> 00:42:13,960 Speaker 1: Right here is as young as sixteen years old you 688 00:42:14,040 --> 00:42:15,799 Speaker 1: can go. And this is I don't know, I don't 689 00:42:15,800 --> 00:42:17,719 Speaker 1: know if this is worse or better than the one 690 00:42:17,760 --> 00:42:20,879 Speaker 1: and done. Because now, I mean kids will be set 691 00:42:20,920 --> 00:42:23,120 Speaker 1: of dropping out of college after one year. They could 692 00:42:23,120 --> 00:42:25,799 Speaker 1: be dropping out of high school after one or two years. Uh, 693 00:42:25,880 --> 00:42:27,640 Speaker 1: you know, a hundred thousand dollars a lot of money, 694 00:42:27,760 --> 00:42:29,439 Speaker 1: you know when you're sixteen, it's a lot of money 695 00:42:29,440 --> 00:42:32,600 Speaker 1: when you're sixty. But uh, you know, I worry about 696 00:42:32,600 --> 00:42:35,440 Speaker 1: the temptation here. Well, and then one thing that happens 697 00:42:35,440 --> 00:42:38,040 Speaker 1: to is that the trade off is the players who 698 00:42:38,040 --> 00:42:40,759 Speaker 1: accept the deal, they will forfeit their ability to play 699 00:42:40,840 --> 00:42:46,239 Speaker 1: high school or college basketball. Right, So that that's gonna 700 00:42:46,239 --> 00:42:48,399 Speaker 1: be and I don't know how that's going to work out, 701 00:42:48,440 --> 00:42:52,279 Speaker 1: but we'll see. Listen stuff. I mean, I guess what 702 00:42:52,360 --> 00:42:54,480 Speaker 1: I would say. You know, the optimistic side of me 703 00:42:54,600 --> 00:42:58,040 Speaker 1: says people need to get out there and try stuff. 704 00:42:58,280 --> 00:43:05,160 Speaker 1: And oftentimes reform comes in response to exogenous forces, as 705 00:43:05,160 --> 00:43:08,799 Speaker 1: it were. And so if there is an economic alternative, 706 00:43:09,200 --> 00:43:12,480 Speaker 1: and we've talked about the fact that one could be 707 00:43:12,520 --> 00:43:15,960 Speaker 1: the year, given name, image and likeness, given a Supreme 708 00:43:15,960 --> 00:43:19,000 Speaker 1: Court case around inn C double a anti trust again, 709 00:43:19,840 --> 00:43:22,480 Speaker 1: that something may start to move. And if this is 710 00:43:22,520 --> 00:43:25,880 Speaker 1: the sort of thing that in the short to midterms 711 00:43:26,000 --> 00:43:29,680 Speaker 1: starts to accelerate some reformer on college athletics, you know 712 00:43:30,080 --> 00:43:32,279 Speaker 1: who's to say, and and maybe that's a good thing, 713 00:43:32,320 --> 00:43:36,239 Speaker 1: But yeah, it's not um not fulworth. That's that's for sure. 714 00:43:36,760 --> 00:43:40,000 Speaker 1: This is the Bloomberg Business of Sports show. We are 715 00:43:40,040 --> 00:43:42,680 Speaker 1: here each and every week at the same time, plus 716 00:43:42,680 --> 00:43:45,960 Speaker 1: online wherever you get your podcasts. You can catch those Mondays, 717 00:43:46,000 --> 00:43:48,719 Speaker 1: Wednesdays and Thursdays. I'm Michael Barrow on Twitter at Big 718 00:43:48,760 --> 00:43:51,600 Speaker 1: Bar Sports, and I'm Mike Lynch. You can follow me 719 00:43:51,640 --> 00:43:54,839 Speaker 1: at lynch E w CVB and I'm Jason Kelly. Find 720 00:43:54,880 --> 00:43:57,120 Speaker 1: me on Twitter at Jason Kelly News. Thanks so much 721 00:43:57,160 --> 00:43:59,799 Speaker 1: for joining us. Tune in next week we're gonna catch 722 00:43:59,840 --> 00:44:04,399 Speaker 1: up with another team chief, talking about Cynthia Marshall. She's 723 00:44:04,400 --> 00:44:08,520 Speaker 1: the CEO of the Dallas Mavericks. You're listening to Bloomberg 724 00:44:08,560 --> 00:44:11,480 Speaker 1: Business of Sports from Bloomberg Radio around the world.