1 00:00:02,240 --> 00:00:05,199 Speaker 1: Hello, I'm Michael bar along with my partner Scott Sasnick, 2 00:00:05,360 --> 00:00:08,160 Speaker 1: also with Evan no Wi Williams joining us. This week, 3 00:00:08,320 --> 00:00:10,080 Speaker 1: we'll explore the big money issues in the world of 4 00:00:10,119 --> 00:00:12,440 Speaker 1: sports and talk to one of the most powerful people 5 00:00:12,520 --> 00:00:15,440 Speaker 1: in the industry. That's New York Yankees managing general partner 6 00:00:15,480 --> 00:00:17,840 Speaker 1: hal Steinbrenner. Well, first, let's look at some of our 7 00:00:17,880 --> 00:00:21,960 Speaker 1: top stories this week, beginning with football broadcasters booking less 8 00:00:22,160 --> 00:00:25,200 Speaker 1: AD revenue for the coming year. It's not good for 9 00:00:25,239 --> 00:00:29,880 Speaker 1: the NFL. The impervious to all things bad NFL, these 10 00:00:29,960 --> 00:00:33,440 Speaker 1: networks supply them with the majority of the revenue. If 11 00:00:33,479 --> 00:00:35,680 Speaker 1: you're starting to see some cracks in the armor, whether 12 00:00:35,720 --> 00:00:40,720 Speaker 1: it's pharmaceutical or whether it's alcohol, whatever the genre is. 13 00:00:41,200 --> 00:00:44,400 Speaker 1: If the AD revenue is coming down, the next time 14 00:00:44,440 --> 00:00:47,400 Speaker 1: those networks are gonna pay for NFL broadcast, you wonder 15 00:00:47,440 --> 00:00:50,240 Speaker 1: if those bids start coming down as well. NFL owners 16 00:00:50,240 --> 00:00:52,960 Speaker 1: can blame the election last year for all they want 17 00:00:53,000 --> 00:00:55,840 Speaker 1: for these for the dip in viewership, but the fact 18 00:00:55,920 --> 00:00:58,319 Speaker 1: is they're flooding the market with inventory. We have more 19 00:00:58,360 --> 00:01:00,640 Speaker 1: Thursday night games. We have an over seas game that 20 00:01:00,680 --> 00:01:02,640 Speaker 1: happens at nine in the morning on the East Coast. 21 00:01:02,920 --> 00:01:06,360 Speaker 1: Now they've sold another Thursday Night package to Amazon. They're 22 00:01:06,400 --> 00:01:10,840 Speaker 1: selling ads. So while football is expanding throughout the throughout 23 00:01:10,840 --> 00:01:13,320 Speaker 1: the week, and and the inventory is flooding the market, 24 00:01:13,319 --> 00:01:15,600 Speaker 1: and we're starting to see the cost of advertisers are 25 00:01:15,600 --> 00:01:18,360 Speaker 1: willing to pay go down. And as we're talking about 26 00:01:18,400 --> 00:01:21,760 Speaker 1: broadcasters bringing in less revenue from football, we also got 27 00:01:21,760 --> 00:01:25,039 Speaker 1: to report this week than NFL teams made ten more 28 00:01:25,240 --> 00:01:27,880 Speaker 1: from their TV contracts this year, with all thirty two 29 00:01:27,959 --> 00:01:31,880 Speaker 1: teams splitting a record seven point eight billion dollars. Well, first, 30 00:01:31,920 --> 00:01:33,880 Speaker 1: let's say it's not as if Michael the NFL is 31 00:01:33,880 --> 00:01:36,480 Speaker 1: telling us all these numbers. It's because the Green Bay 32 00:01:36,480 --> 00:01:40,119 Speaker 1: Packers are publicly owned. We get a little glimpse into 33 00:01:40,200 --> 00:01:42,679 Speaker 1: the finances of the NFL. So the numbers are up. 34 00:01:42,959 --> 00:01:48,920 Speaker 1: Thankful chew the expansion and the relocation. Rather, it's the 35 00:01:49,040 --> 00:01:53,080 Speaker 1: Raiders moved, the Rams moved. They have to pay fees 36 00:01:53,720 --> 00:01:56,720 Speaker 1: to the other owners for the right to move. That's 37 00:01:56,760 --> 00:02:00,120 Speaker 1: a big deal here, and that's that's billions of dollars 38 00:02:00,120 --> 00:02:02,360 Speaker 1: and fees to move. That's one reason that we saw 39 00:02:02,400 --> 00:02:04,360 Speaker 1: the number for everybody go up. Well, I'm gonna go 40 00:02:04,400 --> 00:02:08,280 Speaker 1: back to something that Robert Kraft said earlier this weekend. 41 00:02:08,320 --> 00:02:10,680 Speaker 1: He went back to the revenue party saying, yes, this 42 00:02:10,760 --> 00:02:14,760 Speaker 1: was the election, and then he said emphatically, you wait 43 00:02:14,800 --> 00:02:17,920 Speaker 1: and see, folks, this is gonna be a strong year. 44 00:02:18,080 --> 00:02:22,320 Speaker 1: Just watch because Robert Kraft said it. Look, these numbers 45 00:02:22,320 --> 00:02:24,280 Speaker 1: are gonna go up every year for the next couple 46 00:02:24,320 --> 00:02:29,680 Speaker 1: of years. The TV numbers they're locked into. The revenue 47 00:02:29,720 --> 00:02:32,520 Speaker 1: is gonna keep growing from that. The players are locked 48 00:02:32,520 --> 00:02:34,040 Speaker 1: into their share, so they're not going to see a 49 00:02:34,040 --> 00:02:36,359 Speaker 1: bigger piece of the pie until the next c b A, 50 00:02:36,680 --> 00:02:38,880 Speaker 1: So at least in the near future, until the next 51 00:02:38,880 --> 00:02:41,760 Speaker 1: negotiations for the c b A and the TV contracts, 52 00:02:42,080 --> 00:02:44,520 Speaker 1: this money is just gonna keep rolling in for NFL owners. 53 00:02:44,960 --> 00:02:47,880 Speaker 1: Let's shift gears to e sports now, with news of 54 00:02:47,919 --> 00:02:52,000 Speaker 1: a major investment in the business by two pro sports owners. Evan, 55 00:02:52,200 --> 00:02:54,519 Speaker 1: you wrote the stories from Bloomberg. Tell us what's going 56 00:02:54,560 --> 00:02:56,440 Speaker 1: on here. The sports is growing up. This is the 57 00:02:56,440 --> 00:02:59,440 Speaker 1: first game that was made specifically for an E sports audience, 58 00:02:59,440 --> 00:03:01,959 Speaker 1: not just a deo gaming audience. And as you said, 59 00:03:02,040 --> 00:03:04,680 Speaker 1: you have investment here from the Crafts, from the Wilpons, 60 00:03:04,680 --> 00:03:06,600 Speaker 1: the owners of the Mets. You have a number of 61 00:03:06,600 --> 00:03:09,440 Speaker 1: other minority sports team owners that are buying into this league. 62 00:03:09,680 --> 00:03:12,600 Speaker 1: At twenty million dollars, it's a serious investment and kind 63 00:03:12,600 --> 00:03:15,919 Speaker 1: of the first real structured E sports league that we're 64 00:03:15,919 --> 00:03:17,800 Speaker 1: seeing to kind of mimic what you see in the 65 00:03:17,880 --> 00:03:21,600 Speaker 1: NBA in the NFL. Sadly, Michael, you and I we 66 00:03:21,639 --> 00:03:24,799 Speaker 1: are not in that millennial demographic, Evan, and I'd like 67 00:03:24,840 --> 00:03:27,480 Speaker 1: to teach them. He's squeaking into it still. He's about 68 00:03:27,520 --> 00:03:29,520 Speaker 1: to start with the three when it comes to age. 69 00:03:29,800 --> 00:03:33,919 Speaker 1: But this is aimed at the younger generation. All the sports, 70 00:03:33,919 --> 00:03:36,800 Speaker 1: all the networks are fretting. How do we get millennials? 71 00:03:36,800 --> 00:03:39,200 Speaker 1: How do we get people in our guests later house, 72 00:03:39,280 --> 00:03:41,680 Speaker 1: I'm water talks about how do we get millennials to 73 00:03:41,720 --> 00:03:44,880 Speaker 1: the ballpark? Millennials seem to like this. They're into the 74 00:03:44,920 --> 00:03:47,200 Speaker 1: digital that's how you can reach them. How do we 75 00:03:47,200 --> 00:03:49,320 Speaker 1: reach them online? How do they play these games? What's 76 00:03:49,360 --> 00:03:51,640 Speaker 1: it about? How do we take their money? Ten Cent? Evan? 77 00:03:51,720 --> 00:03:56,400 Speaker 1: What's the number fifteen billion dollar investment in the sports 78 00:03:56,440 --> 00:03:58,560 Speaker 1: coming from ten Cent? And it's a billion dollar industry 79 00:03:58,800 --> 00:04:00,800 Speaker 1: that tells you where this is going. Old man bar 80 00:04:00,960 --> 00:04:04,320 Speaker 1: coming here. And I know people in our age bracket 81 00:04:04,320 --> 00:04:06,160 Speaker 1: of thinking. Now, who in the world is going to 82 00:04:06,160 --> 00:04:10,040 Speaker 1: watch people play video games? Well, remember back in the day, 83 00:04:10,400 --> 00:04:14,840 Speaker 1: they had Championship Bridge and we watched that. So there's 84 00:04:14,840 --> 00:04:17,960 Speaker 1: no reason why this cannot get over. We had Ted 85 00:04:18,040 --> 00:04:20,040 Speaker 1: Leons is the owner of the Washington Capitals and the 86 00:04:20,080 --> 00:04:22,680 Speaker 1: Washington Wizards, say that he believes the sports as an 87 00:04:22,680 --> 00:04:25,120 Speaker 1: industry will be the size of the NHL or the 88 00:04:25,240 --> 00:04:28,240 Speaker 1: NBA within the next five years. That's that's how big 89 00:04:28,279 --> 00:04:30,120 Speaker 1: this is growing. And that's how bullish a lot of 90 00:04:30,120 --> 00:04:33,479 Speaker 1: these traditional sports owners are on the sports. And finally, 91 00:04:33,480 --> 00:04:36,200 Speaker 1: Forbes came out with its ranking of the most valuable 92 00:04:36,200 --> 00:04:39,320 Speaker 1: sports teams in the world, and for the second straight year. 93 00:04:39,880 --> 00:04:42,880 Speaker 1: How about them Dallas Cowboys. They sit on top of 94 00:04:42,960 --> 00:04:46,120 Speaker 1: the throne, no surprise. I mean, Jerry is just the master. 95 00:04:46,240 --> 00:04:49,280 Speaker 1: And he almost bankrupted himself when he bought the Cowboys. 96 00:04:49,520 --> 00:04:52,039 Speaker 1: Donald Trump had a chance to buy the Cowboys for 97 00:04:52,080 --> 00:04:54,479 Speaker 1: fifty million bucks. When he didn't get he said, oh, 98 00:04:54,800 --> 00:04:57,080 Speaker 1: poor guy whoever gets us. If you win, so what 99 00:04:57,120 --> 00:04:58,760 Speaker 1: you're supposed to win, and if you lose, you're the 100 00:04:58,800 --> 00:05:01,120 Speaker 1: guy who couldn't win with the cow But what he's 101 00:05:01,200 --> 00:05:05,520 Speaker 1: done is made the Cowboy brand the centerpiece of a 102 00:05:05,600 --> 00:05:10,440 Speaker 1: real estate empire, of a media empire. It's not just football. 103 00:05:10,480 --> 00:05:13,440 Speaker 1: All the other owners and all the other leagues should 104 00:05:13,440 --> 00:05:17,160 Speaker 1: be envious and actually mimicking what Jerry Jones has done. 105 00:05:17,320 --> 00:05:20,159 Speaker 1: And we can talk about ad revenue all we wanted, this, that, whatever, 106 00:05:20,279 --> 00:05:23,400 Speaker 1: but one thing about Jerry Jones is that he has 107 00:05:23,480 --> 00:05:27,000 Speaker 1: that flamboyant style. And you know, Jerry Jones is the 108 00:05:27,000 --> 00:05:29,880 Speaker 1: owner of the Cowboys, and that plays a major role 109 00:05:30,000 --> 00:05:32,159 Speaker 1: in why that team is very successful. And we talked 110 00:05:32,160 --> 00:05:34,800 Speaker 1: about with the Packers how much money there is in football. 111 00:05:34,880 --> 00:05:37,400 Speaker 1: This list just doubles down on that. Twenty nine of 112 00:05:37,440 --> 00:05:39,200 Speaker 1: the NFL teams are in the top fifty of the 113 00:05:39,200 --> 00:05:42,240 Speaker 1: world's richest franchises. And that's because of these TV deals. 114 00:05:42,360 --> 00:05:44,839 Speaker 1: It's because the NFL is the biggest league in the 115 00:05:44,880 --> 00:05:47,960 Speaker 1: world by a significant margin. Roger Goodell is the commissioner 116 00:05:48,040 --> 00:05:51,040 Speaker 1: of the NFL. Jerry Jones of the de facto commissioner. 117 00:05:51,160 --> 00:05:54,760 Speaker 1: They are in l a and they are in Vegas 118 00:05:55,040 --> 00:05:58,039 Speaker 1: because Jerry Jones made it happen. And now on the 119 00:05:58,040 --> 00:06:01,400 Speaker 1: program and extended conversation with them, and who controls those 120 00:06:01,440 --> 00:06:04,000 Speaker 1: New York Yankees, including what it takes to keep the 121 00:06:04,040 --> 00:06:07,359 Speaker 1: team at the top of those rankings. Hal Steinbrenner is 122 00:06:07,400 --> 00:06:10,800 Speaker 1: the managing general partner of the Yankees. He officially took 123 00:06:10,839 --> 00:06:13,120 Speaker 1: over control of the team in two thousand and eight, 124 00:06:13,320 --> 00:06:17,000 Speaker 1: two years before his father's Neath, the Steinbrenner family has 125 00:06:17,120 --> 00:06:20,240 Speaker 1: majority control of the team, which includes a host of 126 00:06:20,360 --> 00:06:24,120 Speaker 1: limited partners. How I saw the numbers for the All 127 00:06:24,160 --> 00:06:27,200 Speaker 1: Star Home Run Derby through the roof. Everything was good. 128 00:06:27,760 --> 00:06:31,400 Speaker 1: Of course, Aaron Judge, You've seen him all year. But 129 00:06:31,520 --> 00:06:34,560 Speaker 1: I'm starting to get that Jeremy lynnele insanity sense that 130 00:06:34,640 --> 00:06:36,960 Speaker 1: everybody wants a piece. First of all, did you watch 131 00:06:37,000 --> 00:06:39,920 Speaker 1: the home run derby? I did, indeed, and I think 132 00:06:39,920 --> 00:06:41,800 Speaker 1: it was Robbie Cano that put it best. I mean 133 00:06:41,800 --> 00:06:43,520 Speaker 1: he did. Judge just brought it to a different level. 134 00:06:43,560 --> 00:06:45,560 Speaker 1: I mean it's just a different level what he was 135 00:06:45,600 --> 00:06:48,520 Speaker 1: doing out there. Um, it was amazing from beginning then 136 00:06:48,680 --> 00:06:52,479 Speaker 1: really was. He's already had an impact on marketing and 137 00:06:52,520 --> 00:06:56,120 Speaker 1: attendance for the Yankees. Now what have you done? And 138 00:06:56,160 --> 00:07:00,240 Speaker 1: then how do you capitalize on a g I who 139 00:07:00,400 --> 00:07:03,719 Speaker 1: even the commissioner says could become the face of baseball. 140 00:07:03,720 --> 00:07:05,880 Speaker 1: There's no way you thought that this kid at the 141 00:07:05,920 --> 00:07:09,320 Speaker 1: All Star break could become the face of baseball. Well, 142 00:07:09,320 --> 00:07:11,760 Speaker 1: look I I we certainly chose him to start right field. 143 00:07:11,800 --> 00:07:13,960 Speaker 1: We've been following him for years. We knew what the 144 00:07:13,960 --> 00:07:16,600 Speaker 1: potential was. But yes, there nobody could have predicted that 145 00:07:16,640 --> 00:07:18,760 Speaker 1: he'd be having this kind of a rookie season. I 146 00:07:18,760 --> 00:07:20,400 Speaker 1: mean it's it's at this point an m v P 147 00:07:20,520 --> 00:07:23,560 Speaker 1: type season. Um, we'll see what the second half brings. 148 00:07:23,600 --> 00:07:26,200 Speaker 1: But he's he's been amazing, no doubt about it. Our 149 00:07:26,240 --> 00:07:28,320 Speaker 1: fans are excited. I mean, he's he's great off the 150 00:07:28,360 --> 00:07:30,040 Speaker 1: field as as good as he is on the field. 151 00:07:30,120 --> 00:07:31,960 Speaker 1: And we've got a lot of other young players like 152 00:07:32,000 --> 00:07:34,840 Speaker 1: Sanchez Seburrino that they're excited about too. So it's, uh, 153 00:07:35,000 --> 00:07:37,239 Speaker 1: it's been a fun year. You have the judges chamber, 154 00:07:37,240 --> 00:07:39,160 Speaker 1: as you have fans showing up in wigs. Can you 155 00:07:39,200 --> 00:07:41,920 Speaker 1: give me from a dollars and cents perspective? Now, how 156 00:07:42,080 --> 00:07:46,400 Speaker 1: does a team? How does a league capitalize on that? Well, look, 157 00:07:46,640 --> 00:07:48,280 Speaker 1: this this is New York, as you know. I mean, 158 00:07:48,440 --> 00:07:51,280 Speaker 1: the best thing we can do is win, and for us, 159 00:07:51,360 --> 00:07:54,800 Speaker 1: it's not necessarily about any individual player. There's no doubt 160 00:07:55,240 --> 00:07:57,320 Speaker 1: that Judge's Chamber you know, we have different people. We 161 00:07:57,400 --> 00:07:59,600 Speaker 1: choose different people to sit there before every game, and 162 00:08:00,080 --> 00:08:02,120 Speaker 1: fans love it and it's great. But Aaron Judge will 163 00:08:02,160 --> 00:08:04,480 Speaker 1: be the first one to tell you that the guys 164 00:08:04,520 --> 00:08:07,640 Speaker 1: total on this team, and uh, he's just one of them. 165 00:08:07,640 --> 00:08:11,000 Speaker 1: But there's no doubt he's been fantastic. Uh, he's unbelievable 166 00:08:11,000 --> 00:08:13,360 Speaker 1: with the kids, He's unbelievable with the fans. We've got 167 00:08:13,360 --> 00:08:15,040 Speaker 1: a lot of good young players, and I think that's 168 00:08:15,040 --> 00:08:17,160 Speaker 1: what overall the fans are excited about. And we just 169 00:08:17,200 --> 00:08:19,040 Speaker 1: need to we need to. We need to win and 170 00:08:19,080 --> 00:08:21,800 Speaker 1: spend a tough few weeks here we're talking about players 171 00:08:21,960 --> 00:08:26,880 Speaker 1: knocking a baseball about five hundred feet, including Aaron Judge. 172 00:08:27,520 --> 00:08:30,360 Speaker 1: I know some people say, oh, well the ball has changed, 173 00:08:30,440 --> 00:08:32,800 Speaker 1: maybe it's juiced, as I don't believe that at all. 174 00:08:32,840 --> 00:08:35,600 Speaker 1: I think it's just simply you've got guys that can 175 00:08:35,679 --> 00:08:39,040 Speaker 1: physically knock a baseball like that and are physically fit. 176 00:08:39,600 --> 00:08:41,800 Speaker 1: There was a lot of impressive things about that derby, right, 177 00:08:41,800 --> 00:08:43,319 Speaker 1: but I think the things that impressed me probably the 178 00:08:43,400 --> 00:08:45,000 Speaker 1: most is the judge looked like he could have gone 179 00:08:45,000 --> 00:08:47,080 Speaker 1: another round or two, and some of these other guys 180 00:08:47,080 --> 00:08:49,720 Speaker 1: were gassed, if not most of them. So he's uh, 181 00:08:49,720 --> 00:08:52,840 Speaker 1: he's something else, no doubt. Yeah, you said, we have 182 00:08:52,880 --> 00:08:55,040 Speaker 1: a bunch of young guys. I'm not used to hearing 183 00:08:55,040 --> 00:08:57,560 Speaker 1: the Yankees spoken about in those terms. I remember the 184 00:08:57,600 --> 00:09:01,280 Speaker 1: core four of years ago. But the Yankees and a 185 00:09:01,280 --> 00:09:03,679 Speaker 1: bunch of young guys. Pinch me. This is the New 186 00:09:03,720 --> 00:09:06,200 Speaker 1: York Yankees, right it is. I Look, we've had our 187 00:09:06,280 --> 00:09:08,559 Speaker 1: rough years the last five years, right, but we've been 188 00:09:08,559 --> 00:09:11,600 Speaker 1: talking about the Sanchezes and the Submarinos and the and 189 00:09:11,640 --> 00:09:13,199 Speaker 1: the Judges and the Birds of the world for the 190 00:09:13,280 --> 00:09:16,200 Speaker 1: last few years. And you know, they're finally now here 191 00:09:16,240 --> 00:09:18,520 Speaker 1: and they've arrived, and we're gonna get bird going as well. 192 00:09:18,559 --> 00:09:20,839 Speaker 1: And we got a lot of other talent at triple 193 00:09:20,920 --> 00:09:22,440 Speaker 1: A and a double A in a single A. So 194 00:09:22,520 --> 00:09:24,640 Speaker 1: it's uh, you know, we were patient. We didn't trade 195 00:09:24,679 --> 00:09:28,079 Speaker 1: these kids away when everybody was asking for him. Um, 196 00:09:28,120 --> 00:09:29,760 Speaker 1: you know, we were patient, and that's not an easy 197 00:09:29,760 --> 00:09:31,400 Speaker 1: thing to do. And the fans were patient too. They 198 00:09:31,440 --> 00:09:35,400 Speaker 1: were great. It's no surprise Forbes ranked the Yankees one 199 00:09:35,400 --> 00:09:39,600 Speaker 1: of the most valuable sports teams in the United States. 200 00:09:39,960 --> 00:09:43,520 Speaker 1: How did the Yankees become this this mega valuable team? Well, 201 00:09:43,520 --> 00:09:45,960 Speaker 1: it's an honor, first of all, um, but it's look, 202 00:09:45,960 --> 00:09:48,120 Speaker 1: there's a lot of history. They're a lot of World championships, 203 00:09:48,160 --> 00:09:51,160 Speaker 1: and you know, my dad really really turned this thing around. 204 00:09:51,200 --> 00:09:53,120 Speaker 1: We all know what the Yankees were in the early seventies, 205 00:09:53,160 --> 00:09:56,800 Speaker 1: not much, and he just did a phenomenal job of 206 00:09:56,880 --> 00:09:59,560 Speaker 1: promotion and getting getting the right players, not being not 207 00:09:59,679 --> 00:10:02,120 Speaker 1: being a afraid to spend money, even if it was 208 00:10:02,120 --> 00:10:05,760 Speaker 1: his own money, and to get a World championship team, 209 00:10:05,800 --> 00:10:07,760 Speaker 1: and you know, developing, putting a lot of money in 210 00:10:07,760 --> 00:10:10,000 Speaker 1: player development, scouting. I mean it all, it all comes 211 00:10:10,040 --> 00:10:12,400 Speaker 1: from winning, and it all comes from, in my opinion, 212 00:10:12,480 --> 00:10:14,880 Speaker 1: having as much class as you can. I mean, we 213 00:10:14,880 --> 00:10:17,800 Speaker 1: we try to be a very classy organization from top 214 00:10:17,840 --> 00:10:21,280 Speaker 1: to bottom, and discipline is strong and the players know 215 00:10:21,360 --> 00:10:23,120 Speaker 1: it from the day they walk in these doors at 216 00:10:23,200 --> 00:10:28,320 Speaker 1: you know, eighteen years old. No disrespect to Craig Nettles, 217 00:10:28,320 --> 00:10:30,440 Speaker 1: who was a great Yankees player, but I remember that 218 00:10:30,480 --> 00:10:33,240 Speaker 1: era and I always called it the Craig Nettles era 219 00:10:33,320 --> 00:10:36,880 Speaker 1: which you just described. In the early seventies, the Yankees 220 00:10:36,920 --> 00:10:39,880 Speaker 1: had the rebuild. Yeah, Ostallomer was great, but I mean, 221 00:10:40,000 --> 00:10:41,920 Speaker 1: you know, there weren't many bright spots, that's for sure. 222 00:10:42,000 --> 00:10:45,040 Speaker 1: Late sixties, early seventies. And uh again, my dad came 223 00:10:45,040 --> 00:10:46,800 Speaker 1: in there and he made some made some trades, you know, 224 00:10:46,840 --> 00:10:49,400 Speaker 1: Panella getting getting of course Reggie and you know, all 225 00:10:49,400 --> 00:10:52,000 Speaker 1: these kind of catfish and all these all these deals. 226 00:10:52,000 --> 00:10:54,680 Speaker 1: In relatively short order, he turned that club around and 227 00:10:54,720 --> 00:10:56,679 Speaker 1: gave New York a winner. Again, we are chatting with 228 00:10:56,720 --> 00:10:59,240 Speaker 1: how Steinbtter, the managing general partner in the New York Yankees, 229 00:10:59,280 --> 00:11:02,240 Speaker 1: and how you had patients and that is not always 230 00:11:02,240 --> 00:11:04,520 Speaker 1: a buzzword that the New York Yankees were known for. 231 00:11:04,920 --> 00:11:07,400 Speaker 1: They did trade assets away for sort of the win. Now, 232 00:11:07,480 --> 00:11:10,760 Speaker 1: the veteran guys, was there a line of demarcation? When 233 00:11:10,800 --> 00:11:14,560 Speaker 1: did it change? When the approach was We're not going 234 00:11:14,559 --> 00:11:16,520 Speaker 1: to spend the big money on the huge free agents, 235 00:11:16,559 --> 00:11:18,800 Speaker 1: We're going to develop our own. That's the way you 236 00:11:18,840 --> 00:11:21,280 Speaker 1: went in baseball. Well, I mean, look, it's a it's 237 00:11:21,280 --> 00:11:23,880 Speaker 1: a group effort, numerous family members. I'm not the only 238 00:11:23,920 --> 00:11:25,920 Speaker 1: one involved here, and we just all felt, you know, 239 00:11:25,960 --> 00:11:27,600 Speaker 1: it was pretty three or four years ago. We had 240 00:11:27,600 --> 00:11:30,040 Speaker 1: all those injuries, and we had nobody at Double A 241 00:11:30,080 --> 00:11:32,840 Speaker 1: and nobody at Triple A to come and really, you know, 242 00:11:33,240 --> 00:11:36,040 Speaker 1: really contribute and you know, didn't make the playoffs, and 243 00:11:36,400 --> 00:11:38,840 Speaker 1: it was kind of then that that me and others, 244 00:11:39,000 --> 00:11:41,360 Speaker 1: you know, um really just felt that we knew we 245 00:11:41,400 --> 00:11:44,200 Speaker 1: had all this talent at single a right, Judge Sanchez, 246 00:11:44,240 --> 00:11:46,199 Speaker 1: all these guys, and we just weren't going to trade 247 00:11:46,240 --> 00:11:48,040 Speaker 1: them away. I mean it was the same every trade 248 00:11:48,040 --> 00:11:50,480 Speaker 1: deadline and every off season was the same. Everybody was 249 00:11:50,520 --> 00:11:54,480 Speaker 1: asking for these guys, everybody, and we just decided not 250 00:11:54,520 --> 00:11:56,880 Speaker 1: to do it. Let's let's let's let them develop in 251 00:11:56,920 --> 00:11:59,200 Speaker 1: our system. Let's let's make our fans aware of them 252 00:11:59,800 --> 00:12:01,640 Speaker 1: u UM, which I think we've done a good job 253 00:12:01,679 --> 00:12:03,600 Speaker 1: of doing the last couple of years, you know, during 254 00:12:03,600 --> 00:12:06,680 Speaker 1: game TV shows on Yes, things like that that really 255 00:12:06,679 --> 00:12:08,679 Speaker 1: show these young kids and get their names out there 256 00:12:08,679 --> 00:12:10,439 Speaker 1: so the fans get excited about him. And I think 257 00:12:10,440 --> 00:12:13,600 Speaker 1: that's that's been a that's been a good endeavor as well. 258 00:12:13,640 --> 00:12:16,320 Speaker 1: But it was simply a matter of for me not 259 00:12:16,400 --> 00:12:18,560 Speaker 1: having that talent when we needed at the upper levels, 260 00:12:18,600 --> 00:12:21,000 Speaker 1: and you know, we just wanted to be patient let 261 00:12:21,000 --> 00:12:23,520 Speaker 1: these guys develop so we would have that. You meant 262 00:12:23,600 --> 00:12:27,800 Speaker 1: you mentioned your dad, George Steinbrenner and what your dad did. 263 00:12:28,280 --> 00:12:32,240 Speaker 1: He was one of the owners of a major sports 264 00:12:32,280 --> 00:12:35,120 Speaker 1: team that you can recall, especially in the seventies, all 265 00:12:35,120 --> 00:12:38,200 Speaker 1: of a sudden he's pomping up on light beer commercials 266 00:12:38,240 --> 00:12:42,400 Speaker 1: and the whole nation knew George Steinbrenner. And I'm just 267 00:12:42,679 --> 00:12:45,040 Speaker 1: can you expand on that and and talk about your 268 00:12:45,080 --> 00:12:48,360 Speaker 1: dad and what he meant to the Yankees. Well, look, 269 00:12:48,400 --> 00:12:51,040 Speaker 1: he he was. He was very charismatics, as you know, 270 00:12:51,200 --> 00:12:54,360 Speaker 1: and and outspoken at times, and uh, you know, he 271 00:12:54,440 --> 00:12:56,839 Speaker 1: wore his emotions on his sleeve. There was no uh, 272 00:12:57,240 --> 00:12:59,319 Speaker 1: no doubt how he was feeling at any any given time, 273 00:12:59,360 --> 00:13:01,840 Speaker 1: and he said it like it is. And he was 274 00:13:01,880 --> 00:13:04,000 Speaker 1: just really good at the promotional part of it. But 275 00:13:04,720 --> 00:13:06,600 Speaker 1: the vast majority of of a lot of the things 276 00:13:06,720 --> 00:13:09,000 Speaker 1: you saw were just passion. He loved the game, he 277 00:13:09,040 --> 00:13:11,160 Speaker 1: loved New York, and he loved the Yankees. And it 278 00:13:12,120 --> 00:13:15,240 Speaker 1: showed good sometimes in good times, sometimes in bad times. 279 00:13:15,240 --> 00:13:17,920 Speaker 1: But it showed how I never know what to believe 280 00:13:17,920 --> 00:13:20,760 Speaker 1: when I hear sports bankers talking about the Yankees, because 281 00:13:20,760 --> 00:13:22,640 Speaker 1: I'll tell you what they say, many of them anyway, 282 00:13:23,040 --> 00:13:25,800 Speaker 1: Hal in the family, they don't love baseball. That's what 283 00:13:25,880 --> 00:13:27,640 Speaker 1: That's what I hear. Do you love baseball? Is this 284 00:13:27,720 --> 00:13:31,000 Speaker 1: really what you are? I know you like aviation, I 285 00:13:31,040 --> 00:13:33,719 Speaker 1: know you're into that. Do you love baseball? I do? Look, 286 00:13:33,800 --> 00:13:35,360 Speaker 1: I I've I've I've spent a lot of years in 287 00:13:35,360 --> 00:13:37,840 Speaker 1: the hotel business and um, but even when I was 288 00:13:37,880 --> 00:13:40,200 Speaker 1: doing that, my office was still next to Georgia's here 289 00:13:40,240 --> 00:13:42,959 Speaker 1: at the stadium, uh and then later down the hall. 290 00:13:43,000 --> 00:13:45,559 Speaker 1: But I've always been here at Steinbrennerfield in Tampa and 291 00:13:45,800 --> 00:13:47,760 Speaker 1: always been a part of what's going on. And we 292 00:13:47,840 --> 00:13:50,240 Speaker 1: do we love baseball. We wouldn't still be here, right, 293 00:13:50,280 --> 00:13:51,960 Speaker 1: I mean I get asked that question every year by 294 00:13:52,040 --> 00:13:53,520 Speaker 1: by the New York media. You're gonna sell it, You're 295 00:13:53,559 --> 00:13:56,200 Speaker 1: gonna sell No, there's no plans to sell. We've got 296 00:13:56,240 --> 00:13:59,080 Speaker 1: three generations now. I mean my dad obviously has passed, 297 00:13:59,080 --> 00:14:01,280 Speaker 1: but brothers and sisters, and now I have nieces and 298 00:14:01,320 --> 00:14:03,320 Speaker 1: nephews that are involved in someday my kids will be. 299 00:14:03,960 --> 00:14:06,800 Speaker 1: So it's an honor and we we treated as such. 300 00:14:06,800 --> 00:14:09,360 Speaker 1: It's a blessing and we do everything we can to 301 00:14:09,400 --> 00:14:11,319 Speaker 1: carry on what, you know, what our dad started here. 302 00:14:11,520 --> 00:14:13,760 Speaker 1: Do you look at the valuations right now? We have 303 00:14:13,920 --> 00:14:16,000 Speaker 1: the Miami Irlands are on the block. You have three 304 00:14:16,000 --> 00:14:18,520 Speaker 1: groups interested Derek Teater among them. One, did Derek ever 305 00:14:18,600 --> 00:14:22,080 Speaker 1: come to you as a player and solicit information? And 306 00:14:22,120 --> 00:14:23,360 Speaker 1: what's it like to be an owner? What do I 307 00:14:23,400 --> 00:14:25,480 Speaker 1: need to do? How do I develop that off the 308 00:14:25,520 --> 00:14:29,280 Speaker 1: field persona? And how to be an owner? Uh, Derek's 309 00:14:29,280 --> 00:14:30,960 Speaker 1: talked to a lot of people, and we certainly had 310 00:14:30,960 --> 00:14:33,680 Speaker 1: conversations about about certain things. I mean, I really don't 311 00:14:33,680 --> 00:14:35,280 Speaker 1: want to get into it, but he's got it. He's 312 00:14:35,280 --> 00:14:36,720 Speaker 1: got a lot of smart people around him, and he's 313 00:14:36,720 --> 00:14:39,280 Speaker 1: a really smart guy. So you know, whatever he ends 314 00:14:39,320 --> 00:14:40,800 Speaker 1: up doing, I'm sure he's going to be great at it. 315 00:14:41,000 --> 00:14:43,000 Speaker 1: What do you think the Yankees are worth? If we're 316 00:14:43,040 --> 00:14:46,400 Speaker 1: hearing Scott? I really I people ask me this all 317 00:14:46,400 --> 00:14:47,920 Speaker 1: the time as well, and I just I just don't. 318 00:14:48,520 --> 00:14:50,320 Speaker 1: I don't think about that. I mean, there's no there's 319 00:14:50,760 --> 00:14:52,840 Speaker 1: that doesn't really matter unless you're selling right, and there's 320 00:14:52,840 --> 00:14:55,320 Speaker 1: just no plans to sell. So the answer to that is, 321 00:14:55,360 --> 00:14:58,400 Speaker 1: I don't know. But I mean, clearly, every sale, every 322 00:14:58,440 --> 00:15:01,400 Speaker 1: sale that happens seems to you know, all boats rise 323 00:15:01,440 --> 00:15:04,880 Speaker 1: on high tide. It's not just the Yankees. But anyways, 324 00:15:04,920 --> 00:15:07,000 Speaker 1: it's just not something I think about. But I'm sure 325 00:15:07,000 --> 00:15:09,520 Speaker 1: you do think about the tent poles that do drive valuation. 326 00:15:09,560 --> 00:15:11,840 Speaker 1: I mean, that's just about making money. How do you 327 00:15:11,880 --> 00:15:15,120 Speaker 1: see the Yankees are the centerpiece. What are some of 328 00:15:15,160 --> 00:15:18,760 Speaker 1: those other tent poles that drive the business surrounding the 329 00:15:18,840 --> 00:15:22,640 Speaker 1: Yankees as that core focus. Well, I mean, look, if 330 00:15:22,680 --> 00:15:24,600 Speaker 1: you're talking about the business itself, I mean you're right. 331 00:15:24,640 --> 00:15:27,239 Speaker 1: I mean, you know, having a healthy having a healthy 332 00:15:27,240 --> 00:15:30,120 Speaker 1: fiscal situation is a is a big part of any 333 00:15:30,160 --> 00:15:33,080 Speaker 1: valuation of of any company. And obviously ticket sales drive that. 334 00:15:33,200 --> 00:15:36,360 Speaker 1: And what drives ticket sales, you know, success on the field, 335 00:15:36,360 --> 00:15:39,200 Speaker 1: and that drives TV ratings and everything else. So we've 336 00:15:39,200 --> 00:15:41,480 Speaker 1: got to we've got to win. And this is New York. 337 00:15:41,640 --> 00:15:44,200 Speaker 1: And you know, I think we're we're finally after four 338 00:15:44,280 --> 00:15:46,520 Speaker 1: or five tough years, even though I think we were 339 00:15:46,520 --> 00:15:48,400 Speaker 1: over five hundred every year, but that's you know, not 340 00:15:48,440 --> 00:15:50,920 Speaker 1: making the playoffs and so on and so forth. I 341 00:15:50,960 --> 00:15:52,760 Speaker 1: think we're I think we're primed for a good decade 342 00:15:52,800 --> 00:15:54,560 Speaker 1: plus here. I mean, at least that's that's what I hope, 343 00:15:54,640 --> 00:15:58,200 Speaker 1: and I'm excited. Baseball Commissioner Rob Menfred, he was talking 344 00:15:58,240 --> 00:16:04,400 Speaker 1: about the possible of expanding adding more teams to the league. Yes, 345 00:16:04,480 --> 00:16:07,080 Speaker 1: or no, is that a good idea? Well, I guess 346 00:16:07,080 --> 00:16:09,440 Speaker 1: it depends where where where that is. I mean, you know, 347 00:16:09,480 --> 00:16:12,400 Speaker 1: we've certainly have that's certainly been discussed. I know I'm 348 00:16:12,440 --> 00:16:15,400 Speaker 1: not sure that there's anything imminent um. But again I'm 349 00:16:15,440 --> 00:16:17,240 Speaker 1: not Rob Manford, so I can't speak for him. But 350 00:16:17,720 --> 00:16:19,960 Speaker 1: it just depends. I guess it just depends guys on 351 00:16:20,080 --> 00:16:22,000 Speaker 1: on where you're gonna put the clubs. I mean, this 352 00:16:22,040 --> 00:16:23,560 Speaker 1: is a big country, and there's a lot of great 353 00:16:23,600 --> 00:16:26,400 Speaker 1: markets and and a lot of people love baseball in 354 00:16:26,400 --> 00:16:28,720 Speaker 1: this country. It is our national pastime. So it just 355 00:16:28,800 --> 00:16:30,920 Speaker 1: it really depends on the market. I guess I would say, 356 00:16:31,120 --> 00:16:34,720 Speaker 1: how are the Yankees making money? The Yankees too good. Yes, 357 00:16:34,800 --> 00:16:37,720 Speaker 1: we're doing fine as you can tell. And attendance is up, 358 00:16:37,720 --> 00:16:40,040 Speaker 1: ticket sales her up. Like I said, the last four 359 00:16:40,120 --> 00:16:42,440 Speaker 1: or five years has been difficult for a number of reasons, 360 00:16:42,520 --> 00:16:47,280 Speaker 1: the injuries, aging players, big contracts, big payroll, um. But 361 00:16:47,360 --> 00:16:49,280 Speaker 1: now you're starting to see some of that payroll come off, 362 00:16:49,280 --> 00:16:52,240 Speaker 1: and that's going to give us flexibility to sign other 363 00:16:52,280 --> 00:16:54,040 Speaker 1: guys in the free agent market. We are the Yankees 364 00:16:54,040 --> 00:16:55,680 Speaker 1: were always going to be involved there. But you know, 365 00:16:55,720 --> 00:16:58,280 Speaker 1: it also gives us gives us flexibility of having younger players, 366 00:16:58,360 --> 00:17:01,240 Speaker 1: finally lowering payroll, getting under the threshold everything I've been 367 00:17:01,280 --> 00:17:04,960 Speaker 1: talking about for a while. But the Yankees are doing good. Yes, internationally, 368 00:17:05,000 --> 00:17:07,439 Speaker 1: how do you push the brand? I mean that interlocking 369 00:17:07,560 --> 00:17:10,760 Speaker 1: n Y and the pinstripes, it's known all around the globe, 370 00:17:11,400 --> 00:17:15,080 Speaker 1: but you really haven't pushed the brand around the globe. 371 00:17:15,119 --> 00:17:17,639 Speaker 1: With the focus on digital and we know BAM and 372 00:17:17,680 --> 00:17:20,600 Speaker 1: BAM tech, with the way kids are consuming these days, 373 00:17:20,640 --> 00:17:23,320 Speaker 1: everything on their iPads and their phones, it's easy to 374 00:17:23,359 --> 00:17:27,080 Speaker 1: push scalable media. You can certainly push Yankees in Asia, 375 00:17:27,520 --> 00:17:30,000 Speaker 1: in Europe. What's the plan to how do do you 376 00:17:30,040 --> 00:17:32,040 Speaker 1: do that? As baseball does do that? Do they do it? 377 00:17:32,040 --> 00:17:34,280 Speaker 1: Do you get together into it? Yeah? Obviously BAM. You 378 00:17:34,320 --> 00:17:38,159 Speaker 1: know Baseball owns the trademark number one, and Properties is 379 00:17:38,320 --> 00:17:41,480 Speaker 1: Properties is the big merchandise and other things arms of Baseball. 380 00:17:41,480 --> 00:17:43,639 Speaker 1: And then of course you have BAM with all the 381 00:17:43,640 --> 00:17:47,640 Speaker 1: the the media and all that. But yeah, we're we Look, 382 00:17:47,640 --> 00:17:50,240 Speaker 1: we're just finally realizing about a year ago that we 383 00:17:50,280 --> 00:17:52,600 Speaker 1: needed to really create a good social media department. We 384 00:17:52,640 --> 00:17:55,200 Speaker 1: have we got two really good people on board and 385 00:17:55,240 --> 00:17:57,080 Speaker 1: they're they're doing a lot of great things and we're 386 00:17:57,080 --> 00:17:59,600 Speaker 1: going to continue to do that because you're right, that's 387 00:17:59,720 --> 00:18:03,719 Speaker 1: that's it's it's just it's a conventional media is just 388 00:18:03,800 --> 00:18:05,560 Speaker 1: one part of the whole picture, now right. I mean, 389 00:18:05,560 --> 00:18:07,800 Speaker 1: you've got this whole social media platform and that's all 390 00:18:07,840 --> 00:18:11,840 Speaker 1: these young adults, millennials and even kids my age. That's 391 00:18:11,960 --> 00:18:13,639 Speaker 1: that's what they do. That's how they get their news, 392 00:18:14,080 --> 00:18:17,480 Speaker 1: that's how they form opinions about things, and that's how 393 00:18:17,520 --> 00:18:20,800 Speaker 1: they recognize one brand is better than another sometimes. And 394 00:18:21,200 --> 00:18:23,480 Speaker 1: so we're gonna push it. We've we've had relationships in 395 00:18:23,520 --> 00:18:26,879 Speaker 1: Asia for for a lot of years, Japan, and um, 396 00:18:26,920 --> 00:18:28,600 Speaker 1: you know, we're gonna continue to push it. And Baseball 397 00:18:28,600 --> 00:18:30,359 Speaker 1: has been great about that as well. And you know 398 00:18:30,440 --> 00:18:35,120 Speaker 1: they realize Rob Manford understands this younger generation that that's 399 00:18:35,160 --> 00:18:38,600 Speaker 1: he absolutely understands it. He knows what hurdles baseball faces 400 00:18:38,680 --> 00:18:41,640 Speaker 1: when it comes to millennials and the generation younger than them, 401 00:18:41,680 --> 00:18:43,960 Speaker 1: and um, you know, the Playball Initiative is great and 402 00:18:44,320 --> 00:18:46,199 Speaker 1: he's going to be attacking all this stuff, including what 403 00:18:46,280 --> 00:18:48,960 Speaker 1: you just we're talking about here. I know you fielded 404 00:18:49,000 --> 00:18:53,320 Speaker 1: this question many times, but fantasy sports it has taken 405 00:18:53,400 --> 00:18:56,800 Speaker 1: the not only baseball, but other sports as well to 406 00:18:56,920 --> 00:19:00,000 Speaker 1: a new level. Your thoughts about fantasy sports, daily fantasy 407 00:19:00,000 --> 00:19:02,560 Speaker 1: the sports. Yeah, you know what, I I don't get 408 00:19:02,600 --> 00:19:06,240 Speaker 1: asked that often. I've never done it. Number one. I'm 409 00:19:06,280 --> 00:19:09,800 Speaker 1: probably a little archaic when it comes to technology and 410 00:19:09,800 --> 00:19:11,760 Speaker 1: and apps and all that. But it's just something I've 411 00:19:11,800 --> 00:19:13,680 Speaker 1: never done. I mean I might look, my daughter's done it. 412 00:19:13,720 --> 00:19:15,560 Speaker 1: My twenty year old daughter has done it, and uh, 413 00:19:15,920 --> 00:19:19,439 Speaker 1: I find it. I find it interesting. Um, you know, 414 00:19:20,080 --> 00:19:22,560 Speaker 1: baseball is all over making sure that there's not too 415 00:19:22,640 --> 00:19:23,879 Speaker 1: much of it or that is being done in the 416 00:19:23,960 --> 00:19:25,840 Speaker 1: right way, and I'm sure that will will continue. But 417 00:19:25,920 --> 00:19:28,679 Speaker 1: it's a it's a big, big business, and um, you 418 00:19:28,720 --> 00:19:31,560 Speaker 1: know it's it's look if it if it brings interest, 419 00:19:31,720 --> 00:19:34,639 Speaker 1: if it gets people's interest in baseball, then they can 420 00:19:34,640 --> 00:19:36,600 Speaker 1: only be good for the for the industry. And I 421 00:19:36,640 --> 00:19:38,399 Speaker 1: can tell you my daughter knows a lot about baseball 422 00:19:38,440 --> 00:19:40,760 Speaker 1: because she has to to to compete in this you know, 423 00:19:40,880 --> 00:19:44,240 Speaker 1: fantasy league type thing. So I got no problem with it. 424 00:19:44,480 --> 00:19:47,919 Speaker 1: Oh yeah, And there are two different stages of fantasy sports. 425 00:19:47,920 --> 00:19:51,359 Speaker 1: That used to be the old house league where you know, 426 00:19:51,400 --> 00:19:53,480 Speaker 1: you had about ten or twelve teams and then you 427 00:19:53,480 --> 00:19:55,719 Speaker 1: won't all get together and you have the whole season. 428 00:19:56,080 --> 00:19:59,119 Speaker 1: And then daily Fantasy Sports came about, and like you said, 429 00:19:59,200 --> 00:20:02,680 Speaker 1: now you really you have to be on top of 430 00:20:02,880 --> 00:20:06,240 Speaker 1: not just the Yankees, but all the other teams out 431 00:20:06,240 --> 00:20:09,560 Speaker 1: there as well. Absolutely absolutely, it's a you know, look, 432 00:20:09,600 --> 00:20:11,560 Speaker 1: and it's as far as youth is concerned, I mean, 433 00:20:11,600 --> 00:20:13,760 Speaker 1: it's it's a it keeps your brain active, right, It's 434 00:20:13,840 --> 00:20:16,879 Speaker 1: it's good, uh, cerebral stuff. And like I said, if 435 00:20:16,920 --> 00:20:19,960 Speaker 1: it brings passion to these to these young men and 436 00:20:20,000 --> 00:20:23,200 Speaker 1: women and and kids for baseball, and that's that's great 437 00:20:23,240 --> 00:20:25,320 Speaker 1: for the industry. And there was Daily Fantasy Hall and 438 00:20:25,359 --> 00:20:28,000 Speaker 1: then there's that next step that everybody's looking at three five, 439 00:20:28,040 --> 00:20:30,320 Speaker 1: seven years. Who knows what the timeline is, but it's 440 00:20:30,359 --> 00:20:33,080 Speaker 1: the legalization of sports betting with some federal regulation. Adam 441 00:20:33,080 --> 00:20:36,640 Speaker 1: Silver was first commissioner. Manfred has also back that your 442 00:20:36,720 --> 00:20:40,640 Speaker 1: thoughts on whether it's a good thing, a good idea, 443 00:20:41,119 --> 00:20:45,480 Speaker 1: and how much potential revenue would come with it, Well, 444 00:20:45,480 --> 00:20:47,400 Speaker 1: I the second part of that, I just don't know. 445 00:20:47,680 --> 00:20:49,919 Speaker 1: Um do I think it's a good idea? Look, I 446 00:20:50,040 --> 00:20:51,480 Speaker 1: don't have a I don't have a problem with the 447 00:20:51,520 --> 00:20:54,240 Speaker 1: concept as long as, of course it's it's well regulated, 448 00:20:54,280 --> 00:20:57,840 Speaker 1: and you know that's really up to really up to rob. 449 00:20:57,880 --> 00:20:59,520 Speaker 1: I mean, they've they've taken a close look at this 450 00:20:59,600 --> 00:21:02,920 Speaker 1: and will continue to do so. But you know, I 451 00:21:02,920 --> 00:21:04,879 Speaker 1: I played black jack, I've gambled, so I you know, 452 00:21:04,920 --> 00:21:06,919 Speaker 1: I'm not I'm not against it, but it needs to 453 00:21:06,920 --> 00:21:09,119 Speaker 1: be regulated. And you know there are there can be 454 00:21:09,160 --> 00:21:12,919 Speaker 1: downsides to gambling, as we've seen, and um, you know, 455 00:21:12,960 --> 00:21:14,800 Speaker 1: we just need to be cognisant of that. That's all. 456 00:21:14,960 --> 00:21:17,360 Speaker 1: What kind of black jack player on your dealer showing 457 00:21:17,400 --> 00:21:19,920 Speaker 1: a five you've got a fourteen? Are you waiting for 458 00:21:20,000 --> 00:21:22,200 Speaker 1: him to bust? Are you taking the card six or less? 459 00:21:22,240 --> 00:21:26,520 Speaker 1: I'm gonna stay at twelve even right? Okay, more conservative? 460 00:21:26,760 --> 00:21:29,239 Speaker 1: There you go. Would you have done anything differently with 461 00:21:29,280 --> 00:21:31,200 Speaker 1: the stadium if you could go back now and build 462 00:21:31,240 --> 00:21:33,800 Speaker 1: it again. You've already made some changes to accommodate families 463 00:21:33,800 --> 00:21:37,960 Speaker 1: and kids. Just curious if if you're you're learned anything 464 00:21:38,640 --> 00:21:40,720 Speaker 1: in the in the years since the stadium has been built. Well, 465 00:21:40,720 --> 00:21:42,480 Speaker 1: what we've definitely learned is what we did address in 466 00:21:42,520 --> 00:21:44,480 Speaker 1: the off season with the with the pretty big, decent 467 00:21:44,480 --> 00:21:48,560 Speaker 1: size renovation. Um, is that millennials in particular, like to 468 00:21:48,560 --> 00:21:51,960 Speaker 1: watch baseball standing up, talking to friends, drinking a beer 469 00:21:52,240 --> 00:21:55,040 Speaker 1: or whatever. I mean, they that's just they're not like us. 470 00:21:55,040 --> 00:21:56,479 Speaker 1: They want to you know, they just want to be 471 00:21:56,560 --> 00:21:58,280 Speaker 1: They want to be about the experience. They want to 472 00:21:58,280 --> 00:22:01,240 Speaker 1: be instagramming, taking pictures, talking to their friends. So in 473 00:22:01,280 --> 00:22:03,520 Speaker 1: addition to the kids club that we built, we built 474 00:22:03,960 --> 00:22:07,000 Speaker 1: very large social gathering places over the bullpens in the outfield, 475 00:22:07,280 --> 00:22:09,399 Speaker 1: three of them, and they've done really well. If you 476 00:22:09,480 --> 00:22:11,320 Speaker 1: go to our games, they're packed from the beginning of 477 00:22:11,320 --> 00:22:12,959 Speaker 1: the game all the way through to the end, and 478 00:22:13,119 --> 00:22:15,919 Speaker 1: uh everybody seems to like it. So, I mean, I 479 00:22:15,960 --> 00:22:17,919 Speaker 1: think what I learned was that it needs to be 480 00:22:18,600 --> 00:22:20,639 Speaker 1: what happens on the field is always, of course the 481 00:22:20,640 --> 00:22:24,400 Speaker 1: most important primary part of the experience, but it needs 482 00:22:24,440 --> 00:22:26,720 Speaker 1: to be more than that with with this millennial generation 483 00:22:26,760 --> 00:22:30,760 Speaker 1: in particular, and social gathering areas. You've seen all stadiums 484 00:22:30,760 --> 00:22:32,720 Speaker 1: start to start to adam if if they weren't there 485 00:22:32,760 --> 00:22:35,880 Speaker 1: to begin with. And uh so that's definitely something we addressed. 486 00:22:35,880 --> 00:22:37,560 Speaker 1: And you know, I think we've got a pretty cool 487 00:22:37,600 --> 00:22:40,200 Speaker 1: facility here for people to come to. Bob Bowman was 488 00:22:40,240 --> 00:22:42,520 Speaker 1: a guest on the show last week and he described 489 00:22:42,680 --> 00:22:45,640 Speaker 1: what he says millennials love is sort of this pay 490 00:22:45,680 --> 00:22:49,160 Speaker 1: one price for a month and if you use it great. 491 00:22:49,480 --> 00:22:51,360 Speaker 1: It was sort of the genius of the Red Hastings 492 00:22:51,400 --> 00:22:52,960 Speaker 1: Netflix model where if you don't use it, so what 493 00:22:53,080 --> 00:22:54,720 Speaker 1: it's eight bucks a month, you're not going to cancel 494 00:22:54,760 --> 00:22:57,639 Speaker 1: it any chance. The Yankees will give it. Pay me 495 00:22:57,720 --> 00:22:59,760 Speaker 1: forty bucks, pay me fifty bucks for the entire month, 496 00:22:59,800 --> 00:23:01,960 Speaker 1: Come as many games as you want. Yeah, well we're 497 00:23:02,000 --> 00:23:04,679 Speaker 1: looking at everything. Uh. Bob did describe that at the 498 00:23:04,680 --> 00:23:06,560 Speaker 1: owners meetings a cup a couple owners memes ago, and 499 00:23:06,560 --> 00:23:09,159 Speaker 1: it's an interesting concept. I mean, every city is different, 500 00:23:09,680 --> 00:23:12,760 Speaker 1: every every stadium is different. What we did add this 501 00:23:12,840 --> 00:23:17,120 Speaker 1: year was a fifteen pinstrip pass, so basically, you're standing remotely. 502 00:23:17,119 --> 00:23:18,720 Speaker 1: You can go wherever in the stadium you want to 503 00:23:18,760 --> 00:23:20,680 Speaker 1: go to watch the game and you get a free 504 00:23:20,800 --> 00:23:23,320 Speaker 1: soda or free beer and the and a ticket to 505 00:23:23,320 --> 00:23:26,120 Speaker 1: watch the game from wherever you want. So, um, we're 506 00:23:26,119 --> 00:23:27,800 Speaker 1: doing stuff like that, and we're going to continue to 507 00:23:27,800 --> 00:23:32,040 Speaker 1: look at different things. Yeah, what can people do as 508 00:23:32,440 --> 00:23:36,199 Speaker 1: part of a major team to get the young people 509 00:23:36,440 --> 00:23:38,960 Speaker 1: involved and just simply playing the sport Because the first 510 00:23:38,960 --> 00:23:41,200 Speaker 1: thing is simply you have to go grab a bat 511 00:23:41,200 --> 00:23:42,679 Speaker 1: and ball, and you have to grab and friends and 512 00:23:42,720 --> 00:23:45,320 Speaker 1: you have to go out in the field and go play. 513 00:23:45,400 --> 00:23:49,200 Speaker 1: That was no problem in my era, but now things 514 00:23:49,200 --> 00:23:52,000 Speaker 1: have changed so much. What what can major teams do 515 00:23:52,240 --> 00:23:55,160 Speaker 1: to generate interests just simply are playing the sport? Well, 516 00:23:55,160 --> 00:23:57,480 Speaker 1: first of all, Rob understands that, which is this whole 517 00:23:57,480 --> 00:23:59,119 Speaker 1: playball in the suet if that's what that's what it's 518 00:23:59,160 --> 00:24:01,159 Speaker 1: all about, and he's done a great job with it, 519 00:24:01,160 --> 00:24:02,960 Speaker 1: and it's going to continue. I mean as far as 520 00:24:02,960 --> 00:24:05,440 Speaker 1: an individual team, I mean, we're pretty active in our community, 521 00:24:05,480 --> 00:24:08,159 Speaker 1: trying to fund baseball programs in the Bronx and in 522 00:24:08,240 --> 00:24:11,159 Speaker 1: other areas and get kids excited about playing. And we 523 00:24:11,240 --> 00:24:13,879 Speaker 1: you know, we send our players out there to to 524 00:24:13,960 --> 00:24:16,320 Speaker 1: do different functions and you know, it's all about being 525 00:24:16,359 --> 00:24:20,280 Speaker 1: active in your community, your local community, and uh teach 526 00:24:20,359 --> 00:24:23,160 Speaker 1: these kids is baseball is as much fun as any 527 00:24:23,200 --> 00:24:25,280 Speaker 1: sport there is to play and to be a part of. 528 00:24:26,040 --> 00:24:28,679 Speaker 1: How can I use a bad word, sure, Red Sox? 529 00:24:29,000 --> 00:24:32,240 Speaker 1: Yeah you hear Red Sox to a Yankee fan? You 530 00:24:32,359 --> 00:24:35,159 Speaker 1: hear I mean the rivalry, it's nasty, it's this but 531 00:24:35,280 --> 00:24:38,240 Speaker 1: the fact remains. Let's let's be honest that Yankees and 532 00:24:38,280 --> 00:24:41,879 Speaker 1: Red Sox from a business perspective, Yeah, your guys are 533 00:24:41,920 --> 00:24:44,520 Speaker 1: best of friends. It's the it's the best thing for baseball, 534 00:24:44,560 --> 00:24:47,320 Speaker 1: best thing for both franchises, right. Yeah. Look, John Henry, 535 00:24:47,600 --> 00:24:49,679 Speaker 1: the owner, was one of our limited partners before he 536 00:24:49,680 --> 00:24:51,840 Speaker 1: bought the Marlins, So I've known John forever. He's a 537 00:24:51,840 --> 00:24:54,320 Speaker 1: good guy, and it is we we have a lot 538 00:24:54,320 --> 00:24:57,639 Speaker 1: in common obviously, um, but the rivalry on the field 539 00:24:57,640 --> 00:25:01,880 Speaker 1: will always be uh heated, passionate, and that is great 540 00:25:01,920 --> 00:25:04,080 Speaker 1: for baseball and it's it's great for our fans and 541 00:25:04,119 --> 00:25:07,080 Speaker 1: their fans too. You mentioned the limited partnerships, they do 542 00:25:07,119 --> 00:25:10,159 Speaker 1: trade quite often. What's the market like for Yankees LPs? 543 00:25:10,200 --> 00:25:12,280 Speaker 1: And why do people do it? Why do I want 544 00:25:12,320 --> 00:25:15,800 Speaker 1: a one percent or two percents taking a team? Well, 545 00:25:15,880 --> 00:25:17,920 Speaker 1: I mean you'll have to ask them. I mean clearly, 546 00:25:18,040 --> 00:25:20,679 Speaker 1: you know, two or three times a year, maybe it happens. 547 00:25:20,680 --> 00:25:21,840 Speaker 1: But you have to remember, we have a lot of 548 00:25:21,880 --> 00:25:23,840 Speaker 1: partners that have been in since seventy three, so they're 549 00:25:23,880 --> 00:25:26,880 Speaker 1: they're getting older and thinking of their states and whatever else. 550 00:25:26,920 --> 00:25:28,719 Speaker 1: And but then you've got some guys that do come 551 00:25:28,720 --> 00:25:31,480 Speaker 1: in even if it's a half a percent. I just 552 00:25:31,600 --> 00:25:33,480 Speaker 1: to be a part of this great franchise that my 553 00:25:33,560 --> 00:25:36,239 Speaker 1: dad worked so hard to build. And uh, I think 554 00:25:36,280 --> 00:25:38,280 Speaker 1: there's a sense of pride that comes along with it. 555 00:25:38,359 --> 00:25:40,920 Speaker 1: There's there's not much governance, that's for sure. Actually there's 556 00:25:40,920 --> 00:25:43,800 Speaker 1: no governance. Um, you know. I think somebody once said 557 00:25:43,800 --> 00:25:45,800 Speaker 1: that there's nothing quite so limited as being a limited 558 00:25:45,800 --> 00:25:48,400 Speaker 1: partner in the New York Yankees. To Dr John McMullen, 559 00:25:48,480 --> 00:25:50,159 Speaker 1: the former Order of the Devil, said that about you. 560 00:25:50,560 --> 00:25:52,159 Speaker 1: He didn't just say a limited partner of the Yankees 561 00:25:52,280 --> 00:25:57,359 Speaker 1: is being a limited partner to George Steinberger, Um, that 562 00:25:57,440 --> 00:25:59,560 Speaker 1: hasn't changed, you don't. You don't want too many captains 563 00:25:59,600 --> 00:26:02,119 Speaker 1: in the whale else. But I just think it's a 564 00:26:02,160 --> 00:26:03,879 Speaker 1: it's a sense of pride, and you know they enjoy 565 00:26:04,040 --> 00:26:05,719 Speaker 1: come into the games and being a part of it. 566 00:26:05,760 --> 00:26:08,359 Speaker 1: And you know, so that's gonna I'm sure continue. But 567 00:26:08,400 --> 00:26:10,359 Speaker 1: there are other reasons too, it happens. What do you 568 00:26:10,400 --> 00:26:13,440 Speaker 1: see as the future revenue drivers? Do you worry how 569 00:26:13,640 --> 00:26:16,720 Speaker 1: big picture when ESPN is losing subscribers. I mean, we 570 00:26:16,760 --> 00:26:19,439 Speaker 1: all know media is the number one revenue stream tickets 571 00:26:19,480 --> 00:26:21,800 Speaker 1: of course you need as well, but Is there any 572 00:26:21,840 --> 00:26:25,639 Speaker 1: worry about the big media companies or is it you 573 00:26:25,640 --> 00:26:27,879 Speaker 1: know what, Amazon will come in, Google will come in. 574 00:26:27,920 --> 00:26:30,920 Speaker 1: It's a changing lenscape, Twitter, Facebook, somebody's gonna pay because 575 00:26:30,960 --> 00:26:33,359 Speaker 1: our content is so compelling. Well that's I think you 576 00:26:33,440 --> 00:26:34,879 Speaker 1: just hit what I was gonna say, which is, as 577 00:26:34,960 --> 00:26:37,320 Speaker 1: long as we take care of our business, this industry, 578 00:26:37,920 --> 00:26:40,280 Speaker 1: uh you know, the playball, get kids interested in playing 579 00:26:40,359 --> 00:26:44,600 Speaker 1: and watching, um, teaching it could be fun. Um, you know, 580 00:26:44,680 --> 00:26:47,879 Speaker 1: having good classy organizations like all these are as long 581 00:26:47,960 --> 00:26:49,480 Speaker 1: as we take care of business on our end, I 582 00:26:49,520 --> 00:26:51,399 Speaker 1: think the rest is gonna take care of itself, all right. 583 00:26:51,480 --> 00:26:53,480 Speaker 1: That's hal Stein Brunder, the managing general partner of the 584 00:26:53,480 --> 00:26:55,680 Speaker 1: New York Yankees. How thank you so much. Thanks guys, 585 00:26:55,680 --> 00:26:57,480 Speaker 1: appreciate it so Michael. I'll tell you what I take 586 00:26:57,520 --> 00:27:00,960 Speaker 1: away from hal Steinbrenner is that this is a different Yankees. 587 00:27:01,160 --> 00:27:04,800 Speaker 1: This is not the Yankees that people were used to 588 00:27:04,840 --> 00:27:07,520 Speaker 1: where if they're close, you know what, get rid of 589 00:27:07,560 --> 00:27:10,159 Speaker 1: all the young prospects, doesn't matter. Get the star, the 590 00:27:10,200 --> 00:27:14,560 Speaker 1: thirty three year old star now winning now, gratification now, 591 00:27:15,040 --> 00:27:18,520 Speaker 1: this is about building an organization. They understand or seem 592 00:27:18,560 --> 00:27:21,159 Speaker 1: to have learned that you better have depth in the 593 00:27:21,200 --> 00:27:23,640 Speaker 1: minor leagues to bring up. This is a different team. 594 00:27:23,640 --> 00:27:25,760 Speaker 1: They're not going to be the highest spenders and they're 595 00:27:25,800 --> 00:27:27,879 Speaker 1: not going to get rid of their prospects. A word 596 00:27:27,920 --> 00:27:30,159 Speaker 1: that we have not heard around the Bronx in a 597 00:27:30,200 --> 00:27:34,600 Speaker 1: long time. Patients. Something else that I caught my ear 598 00:27:34,680 --> 00:27:37,760 Speaker 1: when he said it because I asked about fantasy sports 599 00:27:37,880 --> 00:27:41,080 Speaker 1: is obviously fantasy sports has a huge impact, not only 600 00:27:41,119 --> 00:27:44,119 Speaker 1: on Baseball, but NFL and the other major sports. But 601 00:27:44,240 --> 00:27:48,359 Speaker 1: he really isn't that into it. His daughter is. But 602 00:27:48,680 --> 00:27:52,320 Speaker 1: with something such of an impact that can add revenue 603 00:27:52,359 --> 00:27:55,800 Speaker 1: just bringing in new people into the sport, it's interesting 604 00:27:55,840 --> 00:27:58,399 Speaker 1: that it really is not his forte it is not. 605 00:27:58,840 --> 00:28:00,520 Speaker 1: And ready for our stat the week, like I know 606 00:28:00,560 --> 00:28:03,800 Speaker 1: you love this party. Ready for the stat? Today's number two, Yes, 607 00:28:03,840 --> 00:28:06,520 Speaker 1: Derek Jeter. So we were continuing with theme, but number 608 00:28:06,520 --> 00:28:12,840 Speaker 1: two the number of endorsements. Aaron Judge has two rollings 609 00:28:13,320 --> 00:28:17,439 Speaker 1: Endemic to baseball, under armour, endemic to baseball. That's it. 610 00:28:18,280 --> 00:28:22,760 Speaker 1: They are knocking down his door. Remember Commissioner Manfred said 611 00:28:23,160 --> 00:28:26,640 Speaker 1: this guy could be the face of baseball as a rookie. 612 00:28:26,920 --> 00:28:29,760 Speaker 1: He is the guy to endorsements. What do you think 613 00:28:29,800 --> 00:28:31,600 Speaker 1: it's like to be his agent these days? And a 614 00:28:31,720 --> 00:28:34,240 Speaker 1: rookie and my goodness, I mean that this guy is 615 00:28:34,240 --> 00:28:36,560 Speaker 1: going to be the limit. And as long as he 616 00:28:36,600 --> 00:28:39,800 Speaker 1: doesn't have any major injuries, this guy, I'm sorry to 617 00:28:39,880 --> 00:28:43,880 Speaker 1: use hyperpoly, but this guy could be the next Baby Bruce. 618 00:28:43,920 --> 00:28:46,600 Speaker 1: I mean, he's hitting him five plus feet. He's a 619 00:28:46,640 --> 00:28:50,040 Speaker 1: big guy's a big smile. That's all great, but it's 620 00:28:50,080 --> 00:28:54,160 Speaker 1: all predicated. What did Hall keeps saying we need to 621 00:28:54,440 --> 00:28:56,960 Speaker 1: win if the Yankees win and he's a big part 622 00:28:57,000 --> 00:29:00,440 Speaker 1: of it. Oh, look out for him on the Richest 623 00:29:00,440 --> 00:29:04,200 Speaker 1: Athletes list. All right, here, come to judge. I'm just sorry, 624 00:29:04,280 --> 00:29:07,480 Speaker 1: John Sterling. Anyway, that wraps up this edition of Bloomberg 625 00:29:07,520 --> 00:29:10,200 Speaker 1: Business of Sports on Bloomberg Radio around the world. We 626 00:29:10,280 --> 00:29:12,480 Speaker 1: are here each and every week at the same time, 627 00:29:12,720 --> 00:29:15,960 Speaker 1: exploring the world of money and sports. Michael laugh and 628 00:29:15,960 --> 00:29:18,080 Speaker 1: I'm Scott Sasnik. Thanks for joining us, and please tune 629 00:29:18,120 --> 00:29:20,080 Speaker 1: in next week when we continue our discussions with the 630 00:29:20,080 --> 00:29:21,440 Speaker 1: most powerful people in sports.