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Speaker 1: This is the business of sports.

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Speaker 2: Our aim is always to leverage the global appeal of football.

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Speaker 3: Having representation in college sports is even more important than pro.

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Speaker 4: Ten percent of Americans now claimed sokup could be their

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Speaker 4: favorite sport.

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Speaker 1: We estimate the UTH sports audience has three trillion dollars

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Speaker 1: in spending power.

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Speaker 3: The nature of baseball is, it is worldwide and it

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Speaker 3: is flooring.

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Speaker 4: I'm very happy for the WNBA and how the NBA

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Speaker 4: has embraced them.

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Speaker 3: Sports books are not going anywhere, and sports betting is

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Speaker 3: only growing.

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Speaker 5: We have a super team running this league, and this

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Speaker 5: league is here and it's here to stay.

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Speaker 1: Bloomberg Business of Sports from Bloomberg Radio.

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Speaker 4: This is the Bloomberg Business of Sports, where we explore

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Speaker 4: the big money issues in the world of sports.

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Speaker 5: Michael Barr, I'm Bennesa, put Oma Maglian and.

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Speaker 6: I'm Randa Williams.

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Speaker 4: Coming up, we'll talk about the big racing weekend with

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Speaker 4: the Indy five hundred, the Canadian Grand Prix, and the

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Speaker 4: Coca Cola six hundred and one driver who is looking

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Speaker 4: to make history by being the first woman to attempt

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Speaker 4: the race. But the racing world is still in shock

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Speaker 4: and saddened by the news that two time Cup Series

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Speaker 4: champion Kyle Busch has died at age forty one. Bush's

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Speaker 4: family said that he was hospitalized just days before he

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Speaker 4: was to compete at Charlotte Motor Speedway with the severe illness.

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Speaker 4: The NASCAR family, including Richard Childress Racing and NASCAR issued

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Speaker 4: a joint statement saying Bush was a rare talent and

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Speaker 4: a future Hall of Famer who will be deeply missed.

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Speaker 5: And then later on we are going to speak to

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Speaker 5: the president of the first billion dollar women sports franchise

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Speaker 5: in history. That's straight ahead on the Bloomberg Business of Sports.

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Speaker 6: But first let's tap into arguably the center of racing

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Speaker 6: in May and also the hometown of my fiance, Indianapolis.

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Speaker 6: We are joined by IndyCar President Doug Bowles, who is

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Speaker 6: going to give us some insight on the one hundred

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Speaker 6: tenth running of the Indianapolis five hundred.

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Speaker 4: Doug, welcome to the Bloomberg Business of Sports.

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Speaker 3: Well, thanks for having me, and it is a great day,

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Speaker 3: great weekend coming up with and you get to see

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Speaker 3: all kinds of racing around the globe and for us

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Speaker 3: gear heads, it is a pretty special day.

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Speaker 4: Now. I know, obviously you know, the big one. You

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Speaker 4: got the Indy five hundred this year is a little

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Speaker 4: different because we motorheads and gear heads. We were used

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Speaker 4: to having Monaco early in the morning, then we would

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Speaker 4: go to Indy and then we would go to the

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Speaker 4: Coca Cola six hundred. But now that we have the

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Speaker 4: Canadian ground Prix weaved in there, you know, it's a

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Speaker 4: little bit of a viewing thing. But of course the

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Speaker 4: big one is the Indy five hundred. Tell us more

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Speaker 4: about the one hundred tenth running. My gosh, one hundred

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Speaker 4: tenth running of the Indianapolis five hundred.

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Speaker 3: You know, it's pretty funny you say one hundred tenth running.

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Speaker 3: Every time we say it. I find it hard to

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Speaker 3: believe that we're at one hundred and ten runnings of

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Speaker 3: this amazing, amazing race. You know, it started in nineteen eleven,

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Speaker 3: and you know, you think about the reason this place

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Speaker 3: was built was to test, you know, the new technology

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Speaker 3: the day, and it was really about business, you know,

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Speaker 3: about growing the automotive industry in certainly in Indiana, but

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Speaker 3: in the US as much as anything. And it's turned

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Speaker 3: in to be a huge economic driver for the state

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Speaker 3: of Indiana. It's over a billion dollars of economic impact

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Speaker 3: this facility and in part this race put on and

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Speaker 3: this year, you know, one hundred and ten runnings, and

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Speaker 3: we're going to sell out the grand stands that I

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Speaker 3: have sold out the grand stands this year though. There

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Speaker 3: literally will be over three hundred and fifty thousand people

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Speaker 3: on property the second largest city in the state of

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Speaker 3: Indiana right here in the race track on race day.

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Speaker 3: It's been a pretty pretty great year and we're just

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Speaker 3: excited to just continue to keep the engine that drives

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Speaker 3: at least motorsport on the Indy car side, keep that

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Speaker 3: thing running smoothly and hopefully we have a great race.

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Speaker 5: It is something so cool about motorsports that three hundred

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Speaker 5: and fifty thousand fans can all gather together. I mean,

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Speaker 5: that's so unique to racing. Doug, tell me about how

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Speaker 5: you guys have done this with the grand stands. Now,

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Speaker 5: this is the second year in a row that it's

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Speaker 5: sold out, but last year marked the first time that

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Speaker 5: it happened since twenty sixteen. What were you able to

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Speaker 5: do to heighten attendance over these last few years.

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Speaker 3: Well, at the end of the day, it really comes

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Speaker 3: down to just our fans passion, for the sport and

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Speaker 3: the passion for the speedway. They just continue to come back,

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Speaker 3: and more importantly, they continue to bring people back. But really,

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Speaker 3: over the last call it fifteen years, as we were

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Speaker 3: leading into the hundredth running of the Indianapolis five hundred,

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Speaker 3: we sort of changed the way that we market. For

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Speaker 3: a long period of time, the Indianapolis Motor Speedway and

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Speaker 3: the Indy five hundred didn't really do a lot of

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Speaker 3: marketing or promotion. They just opened the gates up and

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Speaker 3: people just continued to come back. And I think we

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Speaker 3: view it as a three hundred and sixty five day

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Speaker 3: a year job to make sure people know that this

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Speaker 3: event is taking place. And frankly, the strength of the

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Speaker 3: IndyCar Series that runs, you know, the seventy eighteen races

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Speaker 3: this year, sixteen of them outside of this market, the

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Speaker 3: IndyCar Series health and momentum has really helped also drive

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Speaker 3: the excitement for the Indy five hundred. So, you know,

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Speaker 3: for a period of time that the event, the five

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Speaker 3: hundred and maybe the series didn't work directly together. And

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Speaker 3: I think now we've found a way to just help

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Speaker 3: each other, the series and the speedway growth. So I

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Speaker 3: think it's a combination of things, but at the end

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Speaker 3: of the day, it's really about the fans passion for

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Speaker 3: a more of day weekend Sunday showing up at the

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Speaker 3: Indianapolis Motor Speedway for an Indy five hundred.

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Speaker 6: So we mentioned the Indianapolis five hundred grandstand selling out.

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Speaker 6: I have a culture question for you, because it seems

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Speaker 6: like racing culture has never been bigger in America, specifically

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Speaker 6: even outside of IndyCar. You think about F One, you

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Speaker 6: think about NASCAR and Chicago Street Race, and I wonder

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Speaker 6: if you have felt the culture of racing and America's

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Speaker 6: shift over the last few years.

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Speaker 3: You know, definitely, And I think one of the fears

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Speaker 3: that sport in general had, but certainly motorsport live events had,

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Speaker 3: was none of us really knew what sport would look

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Speaker 3: like on the backside of twenty twenty, and there was

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Speaker 3: some concern that when we get back out of twenty twenty,

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Speaker 3: that people will be so used to doing everything at

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Speaker 3: home that live events would be a thing of the past,

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Speaker 3: or at least struggle, and we found that that's really

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Speaker 3: been the opposite, and so we've really focused on, you know,

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Speaker 3: how do you make that experience of the live event

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Speaker 3: that you can't get when you're at home, So it's

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Speaker 3: really important for us to focus on that live event.

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Speaker 3: And then the one thing I've seen that's really changed

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Speaker 3: the culture around here as much as anything is just youth.

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Speaker 3: Seeing young people, young adults who are embracing live events,

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Speaker 3: where prior to twenty twenty it just felt a lot

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Speaker 3: older in terms of the people in the in the

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Speaker 3: grandstands and the people that were around here. So focused

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Speaker 3: on youth has really, you know, has really changed the

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Speaker 3: way that that sport and in particular racing operates.

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Speaker 4: Last year was the first year of the media rights

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Speaker 4: agreement between Fox and IndyCar, and once again this year

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Speaker 4: it will air on Fox. Take us over the year

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Speaker 4: to your ratings for IndyCar, I know they had to

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Speaker 4: be up big time.

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Speaker 3: Yeah, Our ratings in twenty twenty five versus previous years

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Speaker 3: were significantly up across the board. We had some record

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Speaker 3: highs and certain events. The NDY five hundred, for example,

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Speaker 3: had the highest rating that's had in a couple of decades.

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Speaker 3: In fact, for the first time since the early two thousands,

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Speaker 3: the NDY five hundred was the most watched motorsport event

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Speaker 3: in America even more than the Dayton of five hundred,

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Speaker 3: which is something that we hadn't seen and, like I said,

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Speaker 3: a couple of decades. So that was the growth has

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Speaker 3: been pretty strong. What really was strong, though, and I

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Speaker 3: think what we're most encouraged about, was our growth in

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Speaker 3: the eighteen to thirty four category. One of the things

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Speaker 3: that a motorsport in general has struggled with was how

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Speaker 3: do you gain the momentum in that youth category, in

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Speaker 3: that young adult category. You know, part of it may

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Speaker 3: be because of drive to survive in Formula one and

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Speaker 3: people getting interested in the personalities behind the sport. So

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Speaker 3: I think that set of the great foundation or jumping

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Speaker 3: off platform for many of us. But what we were

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Speaker 3: encouraged with the most is not necessarily that all of

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Speaker 3: the ratings were up, but then in that critical eighteen

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Speaker 3: to thirty four age group, our ratings were significantly better.

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Speaker 3: And we've seen the same thing this year. We've come

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Speaker 3: out of the box with a new schedule where the

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Speaker 3: Indy Car Series started three races in a row last year,

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Speaker 3: we have big gaps between it. That's helped drive some

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Speaker 3: significant ratings, you know, almost thirty percent up as we

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Speaker 3: go into this year's Indianapolis five hundred just with really strong,

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Speaker 3: strong events, and again that young market tends to be

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Speaker 3: helping helping drive that for us.

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Speaker 4: We're talking with Doug Bowles, president of Indy Car and

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Speaker 4: this year's Grand Marshall of the five hundred, Caitlyn Clark. Gee,

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Speaker 4: I wonder who she is. Tell us more about that.

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Speaker 3: It's funny, you know, when the Fever drafted Caitlyn Clark,

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Speaker 3: it didn't take but maybe thirty seconds for race fans

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Speaker 3: to be saying, hey, you got to get Caitlyn Clark

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Speaker 3: to the Indianapolis five hundreds. She needs to drive the

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Speaker 3: pace car, she needs to wave the green flag, all

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Speaker 3: those different things. And we have such a great relationship

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Speaker 3: with Pacer Sports and Entertainment, who owned the Fever, and

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Speaker 3: together we just decided that the most important thing Kitlin

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Speaker 3: Clark could do is just get acclimated to the wa

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Speaker 3: and certainly the Fever, and her main job was to

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Speaker 3: go win games with the Fever.

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Speaker 4: So we we agreed.

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Speaker 3: Together to just let her get used to playing for

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Speaker 3: the Fever and let the Fever really establish the relationship

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Speaker 3: with her. So we stayed in touch over the last

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Speaker 3: couple of years, So this is the first year where

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Speaker 3: I think we've we and the Pacers folks felt it

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Speaker 3: was the right time to bring her out here. So

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Speaker 3: it's exciting to have her, you know. And the other

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Speaker 3: place where we're excited to have coach Kurt Signetti. You know,

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Speaker 3: the IU National Championship football team is going to drive

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Speaker 3: the pace car. So having both of those huge profiles

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Speaker 3: sports figures part of our event is really special. But

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Speaker 3: finally getting Caitlin here, I know, for a lot of

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Speaker 3: our fans is a really big deal. So we're looking

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Speaker 3: forward to hosting her on Sunday.

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Speaker 5: I mean, talk about gaining fans, you know, with the

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Speaker 5: eighteen thirty four year old, I'm sure she's going to

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Speaker 5: help out with that as well. You know, she's really

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Speaker 5: really popular. Doug. One of the other things I wanted

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Speaker 5: to talk about when we were talking about, you know,

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Speaker 5: the Fox and how they've come in and done with

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Speaker 5: the media rites, but also last year they acquired one

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Speaker 5: third of Pennstein Entertainment, which includes an ecar and the

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Speaker 5: Indianapolis Winter Speedway. Can you tell us about the strategy

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Speaker 5: behind that bringing them on as a partner in that way.

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Speaker 3: Yeah, So it's an interesting one. You know, we were

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Speaker 3: excited to have them as a broadcast partner and they

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Speaker 3: obviously we just talked about the numbers and just the

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Speaker 3: promotional strength that they've brought to the brand, to the

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Speaker 3: to the NTT IndyCar Series, as well as to some

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Speaker 3: of our drivers, you know, beginning to build them into superstars,

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Speaker 3: whether it's Poto Award or Alex Pelow or Joseph Nugarten.

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Speaker 3: It really makes a lot of sense there. And then

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Speaker 3: about a half halfway through the season last year, the

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Speaker 3: folks at Fox and Penske Entertainment said, is there a

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Speaker 3: way that you know this relationship could be even stronger?

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Speaker 3: And that's that's really where where the minority ownership component came. Obviously,

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Speaker 3: Roger Pinsky doesn't need an owner, wasn't our a partner,

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Speaker 3: wasn't looking for one. But this one felt natural, and

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Speaker 3: so we got to a point where it made sense. Well,

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Speaker 3: I can tell you has changed the most for us

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Speaker 3: with that. We're great operators, we are at Penske Entertainment.

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Speaker 3: We're great at putting on events, we're great at at

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Speaker 3: building things, we're okay at marketing. But what we aren't

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Speaker 3: is what we aren't is great at marketing, and that's

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Speaker 3: where I think you bring somebody like Fox in and

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Speaker 3: they're in the boardroom now with us, you can have

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Speaker 3: conversations with them that you wouldn't you might not have

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Speaker 3: with just a traditional television broadcast partner. And I can

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Speaker 3: tell you that our team is on the phone with

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Speaker 3: somebody from Fox every day, not just talking about the

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Speaker 3: broadcast side, but how do we grow the sport. The

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Speaker 3: number of times that I'm talking to Eric Shanks, the

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Speaker 3: president of Fox, or our team is about ideas and

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Speaker 3: ways to get creative to grow the sport. That's where

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Speaker 3: I think you'll see the long term benefit of the

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Speaker 3: relationship is just that they look at events through a

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Speaker 3: different lens. We look through at primarily at operating and

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Speaker 3: putting on a great event and then sort of marketing it.

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Speaker 3: They look at market everything and then sort of put

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Speaker 3: on the event. So when you marry those two together,

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Speaker 3: I think we're going to be really strong and that's

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Speaker 3: just going to continue to allow the sport to grow.

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Speaker 5: That was IndyCar president Doug bols Up.

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Speaker 4: Next, you'll hear our interview with Catherine leg who is

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Speaker 4: going to be the first woman to attempt the racing

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Speaker 4: double this weekend. We spoke with Catherine before the news

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Speaker 4: about Kyle Busch. That is straight ahead on the Bloomberg

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Speaker 4: Business of Sports for Vanessa Perdomo, Magleone and Randall Williams.

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Speaker 4: I'm Michael Barr. You're listening to the Bloomberg Business of

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Speaker 4: Sports Bloomberg Radio around the world.

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Speaker 1: This is Bloomberg Business of Sports from Bloomberg Radio.

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Speaker 4: This is the Bloomberg Business of Sports where we explore

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Speaker 4: the big money issues in the world of sports.

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Speaker 5: I'm Michael Barr, I'm Vanessa Perdomo Maglione, and I'm Randa Williams.

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Speaker 4: We are talking about racing today ahead of one of

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Speaker 4: the biggest race weekends of the year, the Indianapolis five hundred.

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Speaker 4: We are joined now by Catherine Legg, who will be

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Speaker 4: racing in her fifth Indianapolis five hundred this weekend.

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Speaker 5: But Michael, she won't just be running the Indy five hundred.

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Speaker 5: She's going to be attempting the double by racing the

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Speaker 5: Indy five hundred and then heading to North Carolina to

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Speaker 5: race in the Coca Cola six hundred on the same day.

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Speaker 6: Captain will be the first woman to ever attempt a double,

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Speaker 6: which has only been attempted by five drivers in history

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Speaker 6: and only completed once.

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Speaker 4: Catherine Legg joins us now to talk about the historic feat. Catherine,

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Speaker 4: Welcome to the Bloomberg Business of Sports. You are about

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Speaker 4: to make history.

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Speaker 7: Yeah, crazy, right? What possessed me when they said did

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Speaker 7: I want to run the double? I mean doing one

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Speaker 7: or or the other is a huge deal in itself.

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Speaker 7: You know, not many people get the opportunity to be

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Speaker 7: part of the Indy five hundred, let alone five times,

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Speaker 7: and then not many people get to race and NASCAR Cup,

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Speaker 7: let alone do the Coke six hundred, and so the

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Speaker 7: opportunity to do either would have been huge in itself.

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Speaker 7: But then they said, why don't we do both on

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Speaker 7: the same day and do the double like Kyle Larson did?

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Speaker 7: And I was like, why not? That sounds great? And

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Speaker 7: then after I committed to it, I was thinking about

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Speaker 7: it and oh, that's quite a lot what I've let

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Speaker 7: myself in for. Why did I say yes to this?

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Speaker 7: But I honestly think it's going to be an epic,

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Speaker 7: awesome day that you know, I share with my partners

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Speaker 7: in ELF Cosmetics, GM and Chevrolet have been wonderful trying

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Speaker 7: to get everything set up, and I'm obviously in a

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Speaker 7: Chevy on both the indie side and the NASCAR side,

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Speaker 7: and then we've got the new air Club who are

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Speaker 7: like doing all the logistics of getting me from one

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Speaker 7: place to the other, and so it's kind of like

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Speaker 7: an adventure. It's kind of like Catherine's own amazing race.

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Speaker 5: No, it really is. I feel like it has to be.

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Speaker 5: And that's what I want to talk a little bit about.

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Speaker 5: Can you give us a little bit more of the

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Speaker 5: detail for people who don't know all the logistics that

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Speaker 5: go behind. Now, how does your day look on Sunday?

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Speaker 7: Oh goodness? So I actulutely said to them, oh, hey,

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Speaker 7: you know, don't tell me, just tell me where I

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Speaker 7: got to be. I don't want to stress about it.

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Speaker 7: I'm going to be fine. And then literally a couple

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Speaker 7: of hours later, I, hey, how are we getting to

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Speaker 7: the helicopter? How are we doing this? And so, knowing

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Speaker 7: me and my OCD kind of control freaking ways, they

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Speaker 7: gave me. And so we're very fortunate that we have

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Speaker 7: new air Club on board, and they're helping us to

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Speaker 7: organize golf carts too. Obviously GM vehicles, we have Chevy

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Speaker 7: truck ready to take me from the golf cart to

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Speaker 7: the helicopter to the plane, to the helicopter to the

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Speaker 7: golf cart to drive it in. Yeah, so you know

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Speaker 7: we haven't haven't got like a food partner.

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Speaker 5: I was just going to ask, when do you eat?

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Speaker 5: It's just hair though.

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Speaker 7: There's a training facility in Indiana and Charlotte called Pitfit

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Speaker 7: and they specialize in race car drivers and pit crew

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Speaker 7: and things like that, and I've been working with them

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Speaker 7: on and off for twenty years in my career, and

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Speaker 7: I texted Jim Leo, the owner, and I was like.

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Speaker 5: Hey, what do I do here?

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Speaker 7: Is it like when I the iron run and I'm

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Speaker 7: going to do goos and gummies and that kind of thing,

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Speaker 7: baby food even, but I have to what I want

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Speaker 7: to eat on the plane in between, so like a

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Speaker 7: recovery meal. And you get out the car and you

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Speaker 7: feel physically sick, right because all the g pots and

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Speaker 7: the heat and everything else. So it's got to be

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Speaker 7: something that's gentle on my stomach. I'm going to have

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Speaker 7: an IV and the plane and so yeah, lots of

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Speaker 7: moving parts.

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Speaker 6: So you mentioned the g's that you feel in a

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Speaker 6: race car, and I was in Vegas a couple of

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Speaker 6: years ago and road in one And I don't understand

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Speaker 6: how you all do this, but I do wonder physically.

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Speaker 6: Is there a difference that you feel between the Indy

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Speaker 6: car and a NASCAR.

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Speaker 7: Yeah, absolutely, very different cars. It's almost like a different sport.

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Speaker 4: Wow.

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Speaker 7: So the Indy car, you're sapped relatively horizontally in the car,

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Speaker 7: your feet are at the same level as you'll bum basically,

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Speaker 7: and it's all core and upper body because you're not

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Speaker 7: using the brakes or you know, it's it's hard on

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Speaker 7: your the steering's heavy, it's hot on your shoulders, it's

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Speaker 7: hard on your chest, forearms because of the like the

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Speaker 7: repetitive nature of it. It's not really heavy doing at once,

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Speaker 7: but when you have to do five hundred miles worth,

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Speaker 7: then it becomes like you're doing it a thousand times, right,

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Speaker 7: and I just it just takes it out of you.

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Speaker 7: And then you get in the NASCAR and it's hot

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Speaker 7: over one hundred and thirty degrees and you're fighting with

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Speaker 7: the car and it's moving around and the center pressure

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Speaker 7: is heavy and it's rolling around and you got tire

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Speaker 7: degradation and all these things. So it's like two totally

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Speaker 7: different sports, and the I think the NASCAR will be

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Speaker 7: the one that wears you out in terms of heart

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Speaker 7: rate will be higher, but it's less strength based. So

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Speaker 7: I just need to I need to start carving up. Yesterday.

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Speaker 4: Really we're talking with Catherine the leg race car driver

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Speaker 4: competing with aj Foryd Racing in the Indianapolis five hundred

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Speaker 4: and I want people to understand this is forgive me

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Speaker 4: for putting it this way. This is a dangerous business.

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Speaker 4: It is. Catherine, you are currently twenty seventh on the grid.

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Speaker 4: You qualified at two hundred and twenty nine point four

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Speaker 4: five six miles an hour. That's about five miles faster

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Speaker 4: than what they do on I eighty here in New Jersey.

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Speaker 4: But the thing that it really that puts it in

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Speaker 4: my mind is that this past week we had a

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Speaker 4: big practice crash Alex Rossi Paedo Award and Romaine Grosjean.

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Speaker 4: It was it was a clean week up until that.

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Speaker 4: Take us through what it's like to compete in Indianapolis racing,

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Speaker 4: especially with the man on the pole Alex Plu two

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Speaker 4: hundred and thirty two point two four miles an hour

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Speaker 4: on the pole. This dangerous, folks, yeah, it.

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Speaker 7: Is dangerous, but in the same breath, they've made massive

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Speaker 7: strides to trying to make it less dangerous. You know,

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Speaker 7: they've got saper barriers now, the cars are stronger. There

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Speaker 7: is no escape in the fact you're doing two hundred

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Speaker 7: and thirty odd miles an hour average, right you're turning

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Speaker 7: into ten one at two hundred and forty three or

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Speaker 7: whatever it may be. So, yeah, it's dangerous. Everything should

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Speaker 7: be going in the same direction, unlike driving, and you do.

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Speaker 7: But it's just one of those things you have a

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Speaker 7: real healthy respect for, but you don't think about in

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Speaker 7: any way, shape or form, and you do your best

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Speaker 7: to be as smart and minimize the mistakes. But some

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Speaker 7: things can happen and you can get taken out. Look

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Speaker 7: at the Alex Rossi crashed right, so he spins mid

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Speaker 7: corner turned to and then the people behind him can't

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Speaker 7: avoid the carnage and end up crashing as well. So

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Speaker 7: something like that can happen, and it's through no fault

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Speaker 7: of your own. You're out of the race, hopefully uninjured.

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Speaker 7: And same goes for Charlotte. I mean, there are some

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Speaker 7: massive NASCAR crashes as well, and it's unfortunate byproduct of

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Speaker 7: this sport that we love so much. I just I

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Speaker 7: hope that you know that it's going to minimize the

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Speaker 7: risk by all these advances in Monday medicine, that we

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Speaker 7: have to make sure that when we hit a safer barrier,

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Speaker 7: we don't get compuessions and things like that, hopefully. I mean,

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Speaker 7: they're just working wonders to do it. But it is

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Speaker 7: fast and it is dangerous, and that's why we all

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Speaker 7: love it so much for one of the many reasons.

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Speaker 4: Now I want to add more to expand on that

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Speaker 4: you qualified twenty seventh on the grid, But because of

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Speaker 4: that big practice crash, are you going to be able

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Speaker 4: now to move up on the grid because well, some

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Speaker 4: of these guys have to go to their backup cars.

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Speaker 7: Yeah, I'm not sure really. I know that a couple

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Speaker 7: of people got excluded from post qualifying technical infringements, So

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Speaker 7: I think we move up one spot and then I

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Speaker 7: don't know what the rule is with regards to going

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Speaker 7: to the backup car. I think I think they should

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Speaker 7: be okay, but I'm not sure. Honestly, there are only

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Speaker 7: thirty three cars attempting to qualify this year, and so

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Speaker 7: all thirty three got in where you qualified is less

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Speaker 7: relevant than in previous years because we got rained out

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Speaker 7: on day one and so the qualifying sort of got

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Speaker 7: condensed into day two. So whether I'm P twenty or

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Speaker 7: P thirty, it doesn't make too much difference to the

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Speaker 7: start of my day, although I will say my plan

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Speaker 7: is to start the race conservatively, watch to learn, figure

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Speaker 7: out how everybody else is driving, and sort of move forward.

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Speaker 7: It's five hundred miles, it's a long race. You've got

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Speaker 7: a lot of time to move forward. So I feel

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Speaker 7: a lot less pressure being back in twenty sixth or

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Speaker 7: wherever it is at all that's starting.

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Speaker 5: Catherine, Elf is going to be Elf Cosmetics is going

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Speaker 5: to be with you. You know, they're your sponsor and

435
00:22:06,400 --> 00:22:09,159
Speaker 5: they're gonna be with you through both races. Tell us

436
00:22:09,160 --> 00:22:11,520
Speaker 5: about having a sponsor like that, Who's you know, going

437
00:22:11,560 --> 00:22:13,440
Speaker 5: to take you through this whole day, who really supports

438
00:22:13,480 --> 00:22:17,600
Speaker 5: you like that? And is they're really supportive of women

439
00:22:17,640 --> 00:22:18,080
Speaker 5: in sports?

440
00:22:18,119 --> 00:22:19,840
Speaker 3: Right?

441
00:22:20,000 --> 00:22:26,119
Speaker 7: So Elf Cosmetics are amazing, That Ethos is honestly incredible.

442
00:22:26,440 --> 00:22:29,560
Speaker 7: They I'm super proud to represent them as a brand

443
00:22:29,600 --> 00:22:32,600
Speaker 7: because of their products being amazing, but also because of

444
00:22:32,640 --> 00:22:35,320
Speaker 7: the values and what they stand for. And I was

445
00:22:35,359 --> 00:22:39,639
Speaker 7: actually four years ago. We got connected and I was

446
00:22:39,680 --> 00:22:43,040
Speaker 7: the first sports person that they had on deck, so

447
00:22:43,200 --> 00:22:46,760
Speaker 7: to say. And after me along came elects of Billy

448
00:22:46,880 --> 00:22:49,240
Speaker 7: Jane King, who's just amazing.

449
00:22:48,880 --> 00:22:51,560
Speaker 5: You know, just sort of random name there.

450
00:22:52,480 --> 00:22:59,919
Speaker 7: Legend a legend, Right and ELF have always been about

451
00:23:00,160 --> 00:23:05,080
Speaker 7: empowering legendary females and just empowerment in general, in all honesty,

452
00:23:06,000 --> 00:23:09,320
Speaker 7: and so the fact that I'm the only woman in

453
00:23:09,359 --> 00:23:12,360
Speaker 7: both series and I'm the first woman to attempt this

454
00:23:13,000 --> 00:23:17,320
Speaker 7: and everything, it kind of underlines what they believe in

455
00:23:17,359 --> 00:23:20,959
Speaker 7: that you know, some barriers they are only perceived barriers,

456
00:23:21,000 --> 00:23:23,439
Speaker 7: they're not actual barriers, and you can do anything that

457
00:23:23,480 --> 00:23:25,879
Speaker 7: you set your mind to if you want it enough.

458
00:23:25,920 --> 00:23:30,199
Speaker 7: And so I think that me trying to strive to

459
00:23:30,240 --> 00:23:34,680
Speaker 7: do these things and having a partner who believes in

460
00:23:34,760 --> 00:23:40,280
Speaker 7: me and believes in the possibilities is It's not to

461
00:23:40,280 --> 00:23:43,320
Speaker 7: be cliche, but it is empowering right Without them, I

462
00:23:43,320 --> 00:23:46,600
Speaker 7: wouldn't be doing this without meaning, they wouldn't be doing it,

463
00:23:46,920 --> 00:23:50,199
Speaker 7: So why not. I mean, they changed the face of

464
00:23:50,320 --> 00:23:55,520
Speaker 7: racing in my opinion. Two years ago we had a

465
00:23:55,560 --> 00:23:59,359
Speaker 7: pink ELF Cosmetics car and they were the first beauty

466
00:23:59,440 --> 00:24:05,440
Speaker 7: brand cosmetics company to sponsor in major racing, whether that's

467
00:24:05,480 --> 00:24:08,800
Speaker 7: Open Wheel on NASCAR or anything. They were the first.

468
00:24:09,119 --> 00:24:11,240
Speaker 7: There have been others that have kind of jumped on

469
00:24:11,280 --> 00:24:14,560
Speaker 7: the bandwagon and come along since, but they were the first,

470
00:24:14,640 --> 00:24:16,800
Speaker 7: and they said we're going to do a pink car.

471
00:24:17,640 --> 00:24:21,639
Speaker 7: I said, no, we're not. I don't want to be

472
00:24:22,119 --> 00:24:25,719
Speaker 7: the girl in the pink car because I've spent the

473
00:24:25,840 --> 00:24:28,919
Speaker 7: entirety of my career just wanting to fit in and

474
00:24:29,040 --> 00:24:32,480
Speaker 7: just wanting to be another driver and not pointing out

475
00:24:32,520 --> 00:24:35,280
Speaker 7: the fact that I am a girl that.

476
00:24:35,280 --> 00:24:38,240
Speaker 5: Was professional race car driver. Catherine like up next.

477
00:24:38,040 --> 00:24:40,480
Speaker 6: We are looking to the WNBA and the team who

478
00:24:40,520 --> 00:24:43,879
Speaker 6: was able to be the first woman's franchise ever valued

479
00:24:43,920 --> 00:24:45,119
Speaker 6: at one billion dollars.

480
00:24:45,320 --> 00:24:47,800
Speaker 4: Well, that's straight ahead on the Bloomberg Business of Sports.

481
00:24:47,840 --> 00:24:51,679
Speaker 4: I'm Michael Barb with Vanessa Fordomo Magleone and Randa Williams.

482
00:24:51,880 --> 00:24:54,879
Speaker 4: You are listening to the Bloomberg Business of Sports Bloomberg

483
00:24:55,000 --> 00:24:56,320
Speaker 4: Radio around the world.

484
00:25:00,320 --> 00:25:04,320
Speaker 1: This is Bloomberg Business of Sports from Bloomberg Radio.

485
00:25:05,520 --> 00:25:07,760
Speaker 4: Thanks for joining us on the Bloomberg Business of Sports.

486
00:25:07,800 --> 00:25:09,919
Speaker 4: Whigs for the big money issues in the world of sports.

487
00:25:10,000 --> 00:25:12,720
Speaker 5: I'm Michael Barr, I'm Vanessa Perdomo Maglion, and.

488
00:25:12,600 --> 00:25:16,280
Speaker 4: I'm Randa Williams. The Golden State Valkyries have become the

489
00:25:16,280 --> 00:25:19,679
Speaker 4: first women's sports franchise in history to be valued at

490
00:25:19,680 --> 00:25:21,800
Speaker 4: a wopping one billion dollars.

491
00:25:21,920 --> 00:25:24,719
Speaker 6: The Valkyries came into the WNBA last year as the

492
00:25:24,800 --> 00:25:28,000
Speaker 6: first expansion franchise in the league since two thousand and eight,

493
00:25:28,040 --> 00:25:30,919
Speaker 6: and they came in with a strong plan. Vanessa, you

494
00:25:30,960 --> 00:25:34,720
Speaker 6: recently spoke with team president Jess Smith about their historical start.

495
00:25:35,119 --> 00:25:37,800
Speaker 5: That's right, and this is something we've been monitoring really closely.

496
00:25:37,880 --> 00:25:39,560
Speaker 5: Who was going to be the first team to reach

497
00:25:39,600 --> 00:25:43,000
Speaker 5: that billion dollar number? And it came quicker than people imagine.

498
00:25:43,160 --> 00:25:45,359
Speaker 5: Jess and I spoke about that and how owner Joe

499
00:25:45,440 --> 00:25:48,720
Speaker 5: Lacop set the tone by believing in women's basketball before

500
00:25:48,760 --> 00:25:50,360
Speaker 5: the WNBA even existed.

501
00:25:50,480 --> 00:25:53,320
Speaker 4: Let's take a listen to Vanessa's conversation with Golden State

502
00:25:53,400 --> 00:25:55,119
Speaker 4: Valkyrie's president Jess Smith.

503
00:25:55,880 --> 00:25:59,560
Speaker 5: So, one billion dollar valuation, Tell me what it was

504
00:25:59,680 --> 00:26:01,000
Speaker 5: like you first heard the number.

505
00:26:01,440 --> 00:26:04,720
Speaker 2: I mean, for us, just we're full of pride, like

506
00:26:04,760 --> 00:26:07,000
Speaker 2: this has been a moment that everybody's been looking to

507
00:26:07,040 --> 00:26:10,040
Speaker 2: women's sports to achieve and the fact that we have

508
00:26:10,119 --> 00:26:12,720
Speaker 2: a chance to usher that in means a lot to us.

509
00:26:13,240 --> 00:26:16,000
Speaker 2: But we're also there's like two facets to that mindset.

510
00:26:16,080 --> 00:26:18,600
Speaker 2: One is we're actually just important to be one are

511
00:26:18,680 --> 00:26:20,840
Speaker 2: like excited to be one of those teams, right, and

512
00:26:20,880 --> 00:26:23,280
Speaker 2: we feel like that's on the horizon to come here

513
00:26:24,000 --> 00:26:26,480
Speaker 2: and we're like the first, But that doesn't really matter.

514
00:26:26,520 --> 00:26:28,840
Speaker 2: What matters is the continued growth, And what matters is,

515
00:26:29,359 --> 00:26:31,760
Speaker 2: you know, the continued investment and the business case pouring

516
00:26:31,760 --> 00:26:34,040
Speaker 2: into women's sports, which also equates to the great outcomes

517
00:26:34,119 --> 00:26:36,760
Speaker 2: on the court. And the second piece of that is

518
00:26:37,560 --> 00:26:40,880
Speaker 2: the continued growth of just the WNBA, right, and we

519
00:26:40,920 --> 00:26:43,119
Speaker 2: are certainly at the helm of that in coming in

520
00:26:43,160 --> 00:26:44,879
Speaker 2: and building this team and having the fan base that

521
00:26:44,880 --> 00:26:47,159
Speaker 2: we do and the outcomes that we've had, But we

522
00:26:47,240 --> 00:26:49,720
Speaker 2: also know it's just starting. You know, when you look

523
00:26:49,720 --> 00:26:52,879
Speaker 2: at the new CBA, which gives us that long term stability,

524
00:26:53,280 --> 00:26:55,240
Speaker 2: you also look at the growth it's going to provide

525
00:26:55,280 --> 00:26:57,880
Speaker 2: in future years. So we have the opportunity to play

526
00:26:57,880 --> 00:27:00,479
Speaker 2: more games beginning next year. You know, if everybody agrees

527
00:27:00,520 --> 00:27:03,280
Speaker 2: on that, we start to look at things like international

528
00:27:03,480 --> 00:27:06,080
Speaker 2: fandom and exposure, and you know where the league's going

529
00:27:06,119 --> 00:27:07,639
Speaker 2: to help lead us there, but like we're going to

530
00:27:07,840 --> 00:27:11,000
Speaker 2: lead our brand in those spaces too. And this media deal,

531
00:27:11,119 --> 00:27:13,320
Speaker 2: this media deal is a very big deal, and not

532
00:27:13,400 --> 00:27:15,720
Speaker 2: only because of the financial component that kicks in this

533
00:27:15,800 --> 00:27:17,760
Speaker 2: year that folks have been talking about, but because of

534
00:27:17,800 --> 00:27:21,120
Speaker 2: the visibility, the opportunity to create more fandom in more

535
00:27:21,160 --> 00:27:23,840
Speaker 2: places to funnel into this league, and of course we

536
00:27:23,880 --> 00:27:26,760
Speaker 2: want to funnel them into Belcris fans. But for us,

537
00:27:26,880 --> 00:27:29,480
Speaker 2: it's exciting and we're prideful in it. But it's not

538
00:27:29,600 --> 00:27:31,760
Speaker 2: something that we feel like is a checked box in

539
00:27:31,800 --> 00:27:34,240
Speaker 2: any way. It's the beginning of a new era in

540
00:27:34,280 --> 00:27:36,320
Speaker 2: the next number of years when people won't even remember

541
00:27:36,320 --> 00:27:39,399
Speaker 2: that there were ever stats kind of waiting for us

542
00:27:39,400 --> 00:27:41,040
Speaker 2: to get there. It's just something that's normal.

543
00:27:41,400 --> 00:27:43,280
Speaker 5: Yeah, I love that you said that too, And because

544
00:27:43,320 --> 00:27:45,600
Speaker 5: it's the same, it's not something a team really is

545
00:27:45,640 --> 00:27:48,320
Speaker 5: like looking at aspiring to all the time. But because

546
00:27:48,320 --> 00:27:51,399
Speaker 5: of that historical moment, because it raises the bar for

547
00:27:51,520 --> 00:27:54,919
Speaker 5: women's sports overall, Like you said, people have been waiting

548
00:27:54,960 --> 00:27:57,520
Speaker 5: for the summer to happen. We had done a report

549
00:27:57,600 --> 00:28:01,160
Speaker 5: last year where you know, Joe lacub had said MBA

550
00:28:01,440 --> 00:28:03,720
Speaker 5: meetings a couple of years ago. This is going to

551
00:28:03,760 --> 00:28:05,760
Speaker 5: be sooner than people think. You know, he was kind

552
00:28:05,800 --> 00:28:08,720
Speaker 5: of telling the future on his own franchise there. What

553
00:28:08,840 --> 00:28:12,920
Speaker 5: was the conversation like with him? Was there any celebration

554
00:28:13,400 --> 00:28:15,640
Speaker 5: you know, with him or within the franchise at all?

555
00:28:15,720 --> 00:28:18,280
Speaker 5: Not because again not because this was something you were

556
00:28:18,320 --> 00:28:23,119
Speaker 5: striving to, but because there is still that historic element

557
00:28:23,160 --> 00:28:23,359
Speaker 5: to it.

558
00:28:23,400 --> 00:28:25,080
Speaker 2: I think for us, like if you look back, even

559
00:28:25,080 --> 00:28:27,040
Speaker 2: when we launched the brand, what we've shared is this

560
00:28:27,080 --> 00:28:30,159
Speaker 2: is always bigger than Golden State, and we take that

561
00:28:30,200 --> 00:28:33,720
Speaker 2: responsibility really seriously too. And so in this moment, the

562
00:28:33,760 --> 00:28:36,240
Speaker 2: celebration was truly just an acknowledgment of what it took

563
00:28:36,280 --> 00:28:39,200
Speaker 2: to get here. And I think we acknowledge that it's

564
00:28:39,200 --> 00:28:42,040
Speaker 2: not just us getting here and then creating this right.

565
00:28:42,080 --> 00:28:44,800
Speaker 2: The w has been around for thirty years. Women's sports

566
00:28:44,840 --> 00:28:47,920
Speaker 2: you know itself has been building really diligently for decades,

567
00:28:48,520 --> 00:28:50,840
Speaker 2: and we wouldn't have the opportunity to have this outcome

568
00:28:50,960 --> 00:28:53,240
Speaker 2: with all of those that came before us to then

569
00:28:53,280 --> 00:28:55,720
Speaker 2: take advantage of the opportunity now to build the business

570
00:28:55,840 --> 00:28:58,920
Speaker 2: our way. But there was acknowledgement, you know, we had

571
00:28:58,960 --> 00:29:00,760
Speaker 2: I sent a really nice note our team. You know,

572
00:29:00,800 --> 00:29:03,000
Speaker 2: we got together and circled up and talked about what

573
00:29:03,040 --> 00:29:05,520
Speaker 2: this meant. From the moment that we started hiring folks.

574
00:29:05,560 --> 00:29:07,040
Speaker 2: You know, five of us, six of us, we have

575
00:29:07,080 --> 00:29:10,320
Speaker 2: over seventy dedicated employees at the Valkyries. We kept saying

576
00:29:10,440 --> 00:29:12,880
Speaker 2: that our business outcomes would equate to better outcomes for

577
00:29:12,920 --> 00:29:13,400
Speaker 2: our players.

578
00:29:13,880 --> 00:29:15,479
Speaker 5: And this is what that is.

579
00:29:15,680 --> 00:29:18,280
Speaker 2: It's going to continue to spur investment into this league

580
00:29:18,280 --> 00:29:21,080
Speaker 2: and other women's sports organizations and female athletes as well,

581
00:29:21,600 --> 00:29:25,680
Speaker 2: and that acknowledgment and pride company wide is unmatched. It's

582
00:29:25,680 --> 00:29:29,120
Speaker 2: definitely something that we will take with us. Joe himself

583
00:29:29,160 --> 00:29:32,520
Speaker 2: actually invested in women's sports before this, the San Jose

584
00:29:32,640 --> 00:29:35,440
Speaker 2: Lasers he was an owner of before the WMBA existed.

585
00:29:36,520 --> 00:29:39,760
Speaker 2: Yeah and so, and by the way, credit his knowledge

586
00:29:39,760 --> 00:29:42,760
Speaker 2: base is incredible of these athletes, and so for him,

587
00:29:42,840 --> 00:29:46,120
Speaker 2: this feels really full circle. You know, that investment didn't

588
00:29:46,120 --> 00:29:48,520
Speaker 2: go very well for him from a financial standpoint. You've

589
00:29:48,560 --> 00:29:50,680
Speaker 2: talked about that, and now to be able to be

590
00:29:50,680 --> 00:29:52,720
Speaker 2: a part of ushering in this new wave of expansion

591
00:29:52,760 --> 00:29:55,520
Speaker 2: for the WMBA and see the way that our fans

592
00:29:55,600 --> 00:29:59,120
Speaker 2: have really rallied around what this is is just really affirming.

593
00:29:59,200 --> 00:30:00,960
Speaker 5: I think for him, I want to talk a little

594
00:30:00,960 --> 00:30:03,400
Speaker 5: bit more about like how you grow, like you said,

595
00:30:03,440 --> 00:30:06,480
Speaker 5: you know before, But we did have Kandas Parker on

596
00:30:06,520 --> 00:30:08,560
Speaker 5: the show a little bit ago, and she was talking

597
00:30:08,560 --> 00:30:11,040
Speaker 5: about how she's really excited to see what the other franchises,

598
00:30:11,080 --> 00:30:13,240
Speaker 5: you know, the new expansion franchises come in and do

599
00:30:13,320 --> 00:30:16,240
Speaker 5: this year. But did know, I don't expect them to have,

600
00:30:16,520 --> 00:30:19,560
Speaker 5: you know, the year that the Valkyries did, because that's

601
00:30:19,600 --> 00:30:22,800
Speaker 5: not really the expectation for anyone. How are you guys

602
00:30:22,840 --> 00:30:26,480
Speaker 5: able to do that in your inaugural year in a way,

603
00:30:26,520 --> 00:30:27,760
Speaker 5: in a way that was really unique to you?

604
00:30:28,440 --> 00:30:31,120
Speaker 2: That's exactly right. It's unique to us, you know, from

605
00:30:31,160 --> 00:30:33,520
Speaker 2: building our brand, to building the connective tissue to watching

606
00:30:33,520 --> 00:30:36,160
Speaker 2: Ohemma and Natalie build it on court product it's always

607
00:30:36,200 --> 00:30:39,600
Speaker 2: been about building around the area, about building around innovation,

608
00:30:40,160 --> 00:30:43,040
Speaker 2: how we treat people, and really harnessing that into the

609
00:30:43,040 --> 00:30:46,040
Speaker 2: brand that is the Valkyries. That yes is barrier base,

610
00:30:46,120 --> 00:30:49,240
Speaker 2: but for us, we hope you know, is acknowledged nationwide

611
00:30:49,240 --> 00:30:53,320
Speaker 2: and internationally too, and so for us it really is intentionality.

612
00:30:53,640 --> 00:30:56,040
Speaker 2: You know, we have moved really slowly the right way

613
00:30:56,080 --> 00:30:59,120
Speaker 2: around the big decisions that we've made. This Valkyrie Violet

614
00:30:59,160 --> 00:31:01,320
Speaker 2: that you see that you know floods the Bay Area

615
00:31:01,360 --> 00:31:04,479
Speaker 2: streets often. That was a big decision for us. We

616
00:31:04,480 --> 00:31:07,120
Speaker 2: were from that very moment unapologetic and who we were

617
00:31:07,160 --> 00:31:10,040
Speaker 2: going to be, not quiet about who we were going

618
00:31:10,040 --> 00:31:12,160
Speaker 2: to be and what we are going to build. And

619
00:31:12,440 --> 00:31:14,680
Speaker 2: we talk to our fans in those moments too, and

620
00:31:14,840 --> 00:31:17,480
Speaker 2: I think that has really paid dividends for us because

621
00:31:17,480 --> 00:31:20,960
Speaker 2: we're never making executive decisions without thinking about, Okay, how

622
00:31:20,960 --> 00:31:23,280
Speaker 2: does this impact our community? Are they going to like

623
00:31:23,320 --> 00:31:25,360
Speaker 2: the way that this is happening. Is this something that

624
00:31:25,400 --> 00:31:28,000
Speaker 2: builds a better tomorrow? How does this impact our players?

625
00:31:28,000 --> 00:31:31,240
Speaker 2: How does this impact the WNBA? In that connection from Ohemma,

626
00:31:31,400 --> 00:31:35,440
Speaker 2: Natalie and myself, I think is something that has just

627
00:31:35,880 --> 00:31:38,720
Speaker 2: led us to a really great place of connection. And

628
00:31:38,720 --> 00:31:41,000
Speaker 2: then the other piece of that is the Golden State connection.

629
00:31:41,280 --> 00:31:43,320
Speaker 2: We did get a chance to come into an organization

630
00:31:43,520 --> 00:31:46,320
Speaker 2: that has a reputation of being Golden State, and people

631
00:31:46,440 --> 00:31:48,360
Speaker 2: understand when you're a part of Golden State that that

632
00:31:48,400 --> 00:31:49,960
Speaker 2: means you are going to work to be the best

633
00:31:50,000 --> 00:31:51,959
Speaker 2: at every single thing that you do and to do

634
00:31:52,000 --> 00:31:54,120
Speaker 2: things the right way. And so we had a little

635
00:31:54,120 --> 00:31:56,520
Speaker 2: bit of the culture road mapped out, and then the

636
00:31:56,560 --> 00:31:58,840
Speaker 2: ability to build within that with the support of an

637
00:31:58,840 --> 00:31:59,880
Speaker 2: ownership group like we have.

638
00:32:00,200 --> 00:32:02,800
Speaker 5: Yeah, and when I did when I did go to

639
00:32:03,120 --> 00:32:04,920
Speaker 5: a game, it was when we talked about it and

640
00:32:04,920 --> 00:32:06,760
Speaker 5: we were walking around the Chase Center. It was really intentional.

641
00:32:06,800 --> 00:32:08,880
Speaker 5: Though you could see the Warrior side, you could see

642
00:32:08,920 --> 00:32:12,600
Speaker 5: the Valkyrie side. They work together, but still really intentionally,

643
00:32:12,720 --> 00:32:15,240
Speaker 5: Valkyries is its own entity. Can you talk a little

644
00:32:15,240 --> 00:32:19,440
Speaker 5: bit about that and how having them together is great,

645
00:32:19,480 --> 00:32:21,880
Speaker 5: like you said, bring them into a culture that understands,

646
00:32:21,880 --> 00:32:24,720
Speaker 5: but at the same time, building something on its own

647
00:32:25,320 --> 00:32:26,680
Speaker 5: made it so successful.

648
00:32:26,840 --> 00:32:30,080
Speaker 2: Yeah, I mean, there's that's exactly right. And I love

649
00:32:30,080 --> 00:32:32,360
Speaker 2: that you have had a chance to walk with us

650
00:32:32,400 --> 00:32:34,280
Speaker 2: and like see all of that firsthand, because there is

651
00:32:34,320 --> 00:32:35,760
Speaker 2: a very specific feeling to it.

652
00:32:35,880 --> 00:32:36,120
Speaker 7: Right.

653
00:32:36,640 --> 00:32:40,600
Speaker 2: I think first the importance of building our own brand

654
00:32:40,920 --> 00:32:43,600
Speaker 2: is that in our own experience is one we are

655
00:32:43,640 --> 00:32:46,280
Speaker 2: serving a completely different fan base often and we're also

656
00:32:46,360 --> 00:32:49,240
Speaker 2: curating a fan base from step one. I think people

657
00:32:49,280 --> 00:32:52,280
Speaker 2: have always assumed that the audience is pretty duplicative when

658
00:32:52,440 --> 00:32:54,920
Speaker 2: in actuality, when you look at the teams like us

659
00:32:54,960 --> 00:32:57,680
Speaker 2: and others that that share a venue. It's not as

660
00:32:57,760 --> 00:33:00,080
Speaker 2: duplicative as you would think. You know, for instance, our

661
00:33:00,080 --> 00:33:02,800
Speaker 2: twelve thousand season ticket holders this year, eight percent crossover

662
00:33:02,880 --> 00:33:05,960
Speaker 2: to the Warriors. So same ownership, same everything.

663
00:33:06,560 --> 00:33:09,240
Speaker 5: But it's not just women and men. It's not just

664
00:33:09,320 --> 00:33:10,880
Speaker 5: women's sports fans.

665
00:33:10,520 --> 00:33:14,040
Speaker 2: Correct, right, Yeah, our family is is fifty percent male, right,

666
00:33:14,040 --> 00:33:16,720
Speaker 2: But they are different consumers buying season tickets and choosing

667
00:33:16,720 --> 00:33:20,080
Speaker 2: this as their primary sports, you know, entity to be

668
00:33:20,120 --> 00:33:22,960
Speaker 2: a part of. But where Golden State has shown leadership

669
00:33:23,160 --> 00:33:24,800
Speaker 2: is I think allowing us to build on our own

670
00:33:24,800 --> 00:33:27,280
Speaker 2: and making sure that we're relentless about building Valkyrie's outcomes,

671
00:33:27,280 --> 00:33:29,520
Speaker 2: which is what you're seeing. We have a thirty percent

672
00:33:29,560 --> 00:33:32,120
Speaker 2: ticketing team, we've got an incredible corporate partnerships team, We've

673
00:33:32,160 --> 00:33:35,600
Speaker 2: got our own marketing content, social media, et cetera. But

674
00:33:35,720 --> 00:33:38,720
Speaker 2: we do have the infrastructure of Golden State. But more importantly,

675
00:33:38,760 --> 00:33:41,400
Speaker 2: the leadership of how we came into the fold, you know,

676
00:33:41,480 --> 00:33:45,800
Speaker 2: and we were purchased and started to emerge. Everything was

677
00:33:45,840 --> 00:33:48,719
Speaker 2: branded Warriors. We had the Warriors Shop where you know

678
00:33:48,720 --> 00:33:51,240
Speaker 2: that sits inside Chase Center you can shop for merchandise.

679
00:33:51,360 --> 00:33:53,960
Speaker 2: You had the Warriors Foundation, which had done incredible work.

680
00:33:54,240 --> 00:33:56,000
Speaker 2: So you know, since this ownership group had the team

681
00:33:56,000 --> 00:33:57,880
Speaker 2: and then you had the Warriors Sports Academy, which was

682
00:33:57,920 --> 00:34:01,040
Speaker 2: the largest in the MBA, we came to the table.

683
00:34:01,360 --> 00:34:03,959
Speaker 2: It was really the responsibility and understanding that we have

684
00:34:04,000 --> 00:34:06,920
Speaker 2: to make space for everyone to thrive when we're together

685
00:34:07,000 --> 00:34:09,000
Speaker 2: as well, and so all of those entities in our

686
00:34:09,040 --> 00:34:13,000
Speaker 2: company was actually rebranded Golden State. So that seems really simple,

687
00:34:13,320 --> 00:34:15,960
Speaker 2: but when you think about what that shows everyone, it

688
00:34:16,040 --> 00:34:18,640
Speaker 2: shows us on the same platform at the same level.

689
00:34:18,719 --> 00:34:20,960
Speaker 2: So for Valkyrasee games, you know you're going into Golden

690
00:34:20,960 --> 00:34:23,360
Speaker 2: State shop, and by the way, on Warriors games you

691
00:34:23,400 --> 00:34:26,919
Speaker 2: can still buy Valkyriese games or Valcrasee merchandise right And

692
00:34:27,280 --> 00:34:29,640
Speaker 2: for the foundation, you know, we're not trying to compete

693
00:34:29,719 --> 00:34:32,440
Speaker 2: in any way. We are understanding that through our foundation

694
00:34:32,480 --> 00:34:34,440
Speaker 2: we're doing great work. And sometimes that's brand Warriors and

695
00:34:34,440 --> 00:34:36,680
Speaker 2: sometimes that's branded Valcrize, depending on what that looks like.

696
00:34:37,080 --> 00:34:39,880
Speaker 2: But most importantly for us is that Youth Academy. What

697
00:34:39,920 --> 00:34:43,680
Speaker 2: we've actually done is combined forces and all the jerseys

698
00:34:43,680 --> 00:34:46,440
Speaker 2: are reversible, so if a youth is playing in a

699
00:34:46,480 --> 00:34:49,160
Speaker 2: basketball camp or in a league, you know that we're

700
00:34:49,200 --> 00:34:52,480
Speaker 2: a partner in they get a jersey that's Valkyries on

701
00:34:52,480 --> 00:34:54,560
Speaker 2: one side and warriors on the other. And what does

702
00:34:54,560 --> 00:34:56,560
Speaker 2: that mean to an eight year old boy or girl.

703
00:34:56,760 --> 00:34:59,040
Speaker 2: That means that they're looking at Veronica Burton and Gabby

704
00:34:59,080 --> 00:35:02,399
Speaker 2: Williams just like they're looking at Steph and Draymond, and

705
00:35:02,600 --> 00:35:06,359
Speaker 2: they will see no difference between the organizations and how

706
00:35:06,400 --> 00:35:09,080
Speaker 2: that's going to impact our society from that idolization of

707
00:35:09,120 --> 00:35:11,960
Speaker 2: these athletes and then attending a sold out Chase Center

708
00:35:12,120 --> 00:35:14,880
Speaker 2: is so much deeper than business outcomes. So I think

709
00:35:15,160 --> 00:35:17,279
Speaker 2: Golden State has just done such a great job of

710
00:35:17,320 --> 00:35:20,360
Speaker 2: making space for us the right way and yet allowing

711
00:35:20,400 --> 00:35:23,400
Speaker 2: this organization to stay focused on you know, we are

712
00:35:23,400 --> 00:35:26,040
Speaker 2: in a different growth trajectory. We're a startup, right. We

713
00:35:26,120 --> 00:35:28,600
Speaker 2: made it through year one, but make no mistake like

714
00:35:28,719 --> 00:35:31,399
Speaker 2: there's going to be another leaps and bounds this year.

715
00:35:31,800 --> 00:35:33,759
Speaker 2: You know, the opportunity that exists in this league and

716
00:35:33,760 --> 00:35:36,120
Speaker 2: with this fan base, and we have to make sure

717
00:35:36,120 --> 00:35:38,680
Speaker 2: we're catering to that with the specific staff that we

718
00:35:38,719 --> 00:35:40,120
Speaker 2: need to hire for this moment in time.

719
00:35:40,520 --> 00:35:42,800
Speaker 5: Let's talk about that. Getting into year two. We're speaking

720
00:35:42,800 --> 00:35:45,440
Speaker 5: with Jess Smith, president of the Golden State Valkyries. So

721
00:35:45,560 --> 00:35:47,879
Speaker 5: year one, you're going in, you're building a new thing,

722
00:35:47,920 --> 00:35:49,839
Speaker 5: a brand new thing. Now you're going to year two.

723
00:35:50,440 --> 00:35:54,080
Speaker 5: It was not the easiest offseason, right with the CBA

724
00:35:54,160 --> 00:35:56,600
Speaker 5: negotiations going on. Tell me how you were able to

725
00:35:56,640 --> 00:35:58,840
Speaker 5: build into year two with all that going on, But

726
00:35:59,120 --> 00:36:00,480
Speaker 5: everything you learn from you one as.

727
00:36:00,440 --> 00:36:03,560
Speaker 2: Well well, the reality is I'm already building for year three.

728
00:36:04,080 --> 00:36:06,800
Speaker 2: So first and foremost, we are a little bit ahead

729
00:36:06,840 --> 00:36:08,880
Speaker 2: of just what we're thinking about, and we have to be.

730
00:36:09,040 --> 00:36:11,719
Speaker 2: And then of course you're adding in the reactive you know,

731
00:36:12,120 --> 00:36:14,399
Speaker 2: things that happened this season into those plans. I keep

732
00:36:14,440 --> 00:36:16,239
Speaker 2: saying to everyone, we won't really have a marketing plan

733
00:36:16,280 --> 00:36:18,520
Speaker 2: if we win the championship, because the marketing plan would

734
00:36:18,520 --> 00:36:21,520
Speaker 2: just be we won the championship, but all the business

735
00:36:21,560 --> 00:36:23,960
Speaker 2: outcomes we are starting now. And for us, you know,

736
00:36:24,000 --> 00:36:27,040
Speaker 2: two things were true this last off season. One is

737
00:36:27,080 --> 00:36:29,799
Speaker 2: that the CBA was incredibly important and a focal point

738
00:36:29,920 --> 00:36:32,040
Speaker 2: for a long period of time that needed to focus

739
00:36:32,040 --> 00:36:34,399
Speaker 2: on growth and get it right right. You know, there

740
00:36:34,480 --> 00:36:37,200
Speaker 2: was a lot of you know, questions out there, what

741
00:36:37,280 --> 00:36:38,759
Speaker 2: does this feel like for you? What does this mean?

742
00:36:38,800 --> 00:36:41,600
Speaker 2: Are you guys fearful of this? If you stalled anything,

743
00:36:41,760 --> 00:36:44,439
Speaker 2: And the answer was no. We had full confidence in

744
00:36:44,880 --> 00:36:47,480
Speaker 2: this getting done. Now when it got done was up

745
00:36:47,520 --> 00:36:50,800
Speaker 2: to the players Association and the league, but we really

746
00:36:50,800 --> 00:36:52,880
Speaker 2: trusted that they needed to take the time to do it.

747
00:36:52,920 --> 00:36:53,160
Speaker 3: Well.

748
00:36:53,200 --> 00:36:54,320
Speaker 5: If you look back five.

749
00:36:54,200 --> 00:36:57,200
Speaker 2: Years and forward five years, it's a really difficult task

750
00:36:57,560 --> 00:36:59,560
Speaker 2: to look at a table together and say how are

751
00:36:59,560 --> 00:37:01,560
Speaker 2: we going to buil this to make sure that we

752
00:37:01,600 --> 00:37:03,719
Speaker 2: are sustaining and growing the league at a rapid rate

753
00:37:04,000 --> 00:37:05,759
Speaker 2: and that the players are a key part part of that.

754
00:37:05,960 --> 00:37:07,759
Speaker 2: So we're really proud of how everything came to be,

755
00:37:08,280 --> 00:37:10,080
Speaker 2: but we never took our foot off the gas.

756
00:37:10,360 --> 00:37:12,720
Speaker 5: That was Golden State Valkyrie's president, Jess Smith.

757
00:37:13,040 --> 00:37:15,719
Speaker 4: That is it for today. Oh I gotta go now

758
00:37:15,840 --> 00:37:18,239
Speaker 4: run to the television set. Thanks for joining us. Tune

759
00:37:18,280 --> 00:37:20,400
Speaker 4: in again next week for the latest on the stories

760
00:37:20,440 --> 00:37:22,960
Speaker 4: moving big money in the world of sports, and.

761
00:37:22,920 --> 00:37:25,920
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762
00:37:25,920 --> 00:37:27,840
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763
00:37:27,880 --> 00:37:30,799
Speaker 5: Bloomberg Business of Sports newsletter to stay up to date

764
00:37:30,880 --> 00:37:32,240
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765
00:37:32,440 --> 00:37:36,000
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766
00:37:36,200 --> 00:37:37,520
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