1 00:00:02,480 --> 00:00:09,440 Speaker 1: Bloomberg Audio Studios, podcasts, radio News. This is the Business 2 00:00:09,440 --> 00:00:10,200 Speaker 1: of Sports. 3 00:00:10,240 --> 00:00:13,680 Speaker 2: Sports are the greatest unscripted show owner. 4 00:00:13,560 --> 00:00:15,720 Speaker 3: The next generation of players who really grew up with 5 00:00:15,840 --> 00:00:17,120 Speaker 3: tech and believe in tech. 6 00:00:17,239 --> 00:00:19,520 Speaker 4: Your face is your ticket, your face is your wallet, 7 00:00:19,600 --> 00:00:21,840 Speaker 4: your face is your access to a club. These are 8 00:00:21,880 --> 00:00:25,200 Speaker 4: such iconic and important buildings for businesses. 9 00:00:25,360 --> 00:00:27,880 Speaker 1: For fans, Covid was one of the best things that 10 00:00:27,880 --> 00:00:28,720 Speaker 1: ever happened to go. 11 00:00:29,000 --> 00:00:31,080 Speaker 5: The NFL is a bulletproof business. 12 00:00:31,200 --> 00:00:33,880 Speaker 6: Raising is unique because there is absolutely no reason why 13 00:00:33,880 --> 00:00:34,880 Speaker 6: we can't compete with the guys. 14 00:00:34,880 --> 00:00:35,960 Speaker 7: I wat it's pro pickleball? 15 00:00:36,000 --> 00:00:38,120 Speaker 6: Real, Are people really going to tune into this. 16 00:00:38,200 --> 00:00:40,760 Speaker 3: If you're playing moneyball with a huge bag of money, 17 00:00:40,800 --> 00:00:42,080 Speaker 3: and you're going to be really. 18 00:00:41,880 --> 00:00:42,320 Speaker 7: Really good. 19 00:00:42,440 --> 00:00:46,040 Speaker 1: Bloomberg Business of Sports from Bloomberg Radio. 20 00:00:46,320 --> 00:00:49,479 Speaker 7: This is the Bloomberg Business of Sports. We explore the 21 00:00:49,479 --> 00:00:51,479 Speaker 7: big money issues and world of sports. 22 00:00:51,600 --> 00:00:54,840 Speaker 6: I'm Michael bar and I'm Damian Sassu Vanessa Perdomo. 23 00:00:55,080 --> 00:00:56,640 Speaker 7: We'll join us later in the show. 24 00:00:56,880 --> 00:00:59,680 Speaker 6: Coming up, we'll check in on the sports betting space 25 00:00:59,760 --> 00:01:03,320 Speaker 6: with bet MGMCEO Adam Greenbot. 26 00:01:03,000 --> 00:01:06,959 Speaker 7: And we'll hear from Caine co founder and CEO Jonathan 27 00:01:07,040 --> 00:01:10,880 Speaker 7: Goldstein about his firm stakes in the sports world. All 28 00:01:10,959 --> 00:01:13,520 Speaker 7: that and more is on the way on the Bloomberg 29 00:01:13,560 --> 00:01:17,200 Speaker 7: Business of Sports, but we start in the college ranks. 30 00:01:17,280 --> 00:01:20,880 Speaker 7: The big headline this past week was Lane Kiffin's controversial 31 00:01:20,959 --> 00:01:23,040 Speaker 7: move from Ole Miss to LSU. 32 00:01:23,280 --> 00:01:25,039 Speaker 6: It was a big headline, Michael bar but not as 33 00:01:25,080 --> 00:01:29,000 Speaker 6: big as five star quarterback Jared Curtis from Nashville Christian 34 00:01:29,080 --> 00:01:33,800 Speaker 6: flipping from Georgia to my hometown Van Dey commodore. Let's 35 00:01:33,840 --> 00:01:34,600 Speaker 6: go anchor down. 36 00:01:35,360 --> 00:01:39,560 Speaker 7: See man, now you've drooled on the scripts and everything. 37 00:01:39,640 --> 00:01:46,080 Speaker 7: Man's Randall Williams, our very own Bloomberg Business of Sports reporter. 38 00:01:46,240 --> 00:01:48,960 Speaker 7: Man is also here to join us. You got to 39 00:01:49,080 --> 00:01:50,560 Speaker 7: join in on the chat, man. 40 00:01:50,760 --> 00:01:53,440 Speaker 5: None of what Lane Kiffin has done over the course 41 00:01:53,480 --> 00:01:56,360 Speaker 5: of his career has surprised me. He's an agent of 42 00:01:56,480 --> 00:01:59,800 Speaker 5: chaos in the chaotic world of college sports, and I 43 00:01:59,800 --> 00:02:02,120 Speaker 5: think everybody wants to like chastise him for these different things. 44 00:02:02,160 --> 00:02:05,200 Speaker 5: But when athletes can up and leave and enter the 45 00:02:05,200 --> 00:02:07,880 Speaker 5: transfer portal and be paid, and coaches have long been 46 00:02:07,920 --> 00:02:11,840 Speaker 5: able to switch jobs or be fired with payouts, I 47 00:02:11,840 --> 00:02:13,600 Speaker 5: think this is just the world we live in and 48 00:02:13,680 --> 00:02:15,360 Speaker 5: everybody needs to get. 49 00:02:15,200 --> 00:02:18,200 Speaker 7: Over it or now on the latest in the college ranks. 50 00:02:18,240 --> 00:02:22,079 Speaker 7: We welcome Ben Portnoy, college sports reporter at the Sports 51 00:02:22,240 --> 00:02:26,440 Speaker 7: Business Journal. Ben, Welcome to the Bloomberg Business of Sports. 52 00:02:26,720 --> 00:02:28,120 Speaker 8: What's going on, guys, Thanks for having me. 53 00:02:28,480 --> 00:02:30,760 Speaker 6: So let's get into it. I mean, I mean, look, 54 00:02:30,840 --> 00:02:32,960 Speaker 6: talk to us a little bit about the drama that's 55 00:02:33,000 --> 00:02:34,800 Speaker 6: going on in Mississippi. 56 00:02:35,680 --> 00:02:36,840 Speaker 8: Yeah, you know, it's interesting. 57 00:02:37,520 --> 00:02:40,720 Speaker 9: You look, Lane Kiffin is someone that drama follows no 58 00:02:40,760 --> 00:02:43,240 Speaker 9: matter where he is. It's whether it's good, bad, and different. Right, 59 00:02:43,280 --> 00:02:45,720 Speaker 9: And I remember talking to some folks and some friends, 60 00:02:45,800 --> 00:02:48,200 Speaker 9: you know, right when Lane got hired at All miss 61 00:02:48,240 --> 00:02:51,240 Speaker 9: and uh, you know, the conversation was basically, and I 62 00:02:51,280 --> 00:02:53,120 Speaker 9: said it then, was you know, this is basically going 63 00:02:53,160 --> 00:02:54,519 Speaker 9: to go one of two ways. It's going to go 64 00:02:54,600 --> 00:02:56,480 Speaker 9: up and smoke in four years because it doesn't work, 65 00:02:56,600 --> 00:02:58,120 Speaker 9: or it's going to go up and smoking four years 66 00:02:58,160 --> 00:03:00,320 Speaker 9: because Lane leaves and does so well and he goes 67 00:03:00,320 --> 00:03:01,880 Speaker 9: somewhere else in the exit's going to be. 68 00:03:01,760 --> 00:03:04,640 Speaker 8: You know, fiery, right, and here we are, and so 69 00:03:04,760 --> 00:03:06,040 Speaker 8: I think, look, the way that. 70 00:03:06,000 --> 00:03:08,040 Speaker 9: It's worked, right is that you know, Lane is leaving 71 00:03:08,080 --> 00:03:09,960 Speaker 9: Ole miss in the middle of a playoff run to 72 00:03:10,040 --> 00:03:13,040 Speaker 9: go to LSU, a place that you know, he thinks 73 00:03:13,040 --> 00:03:15,799 Speaker 9: he can go win a national championship. Essentially, I think 74 00:03:15,800 --> 00:03:17,519 Speaker 9: I think it's an interesting dynamic at play when you 75 00:03:17,600 --> 00:03:19,760 Speaker 9: have these coaching searches that turn it into these high 76 00:03:19,800 --> 00:03:22,680 Speaker 9: profile conversations and how they fit into the media narrative. 77 00:03:23,120 --> 00:03:24,600 Speaker 7: Ben, nice to talk to you. 78 00:03:25,200 --> 00:03:27,560 Speaker 5: My question for you is pretty simple. There's a lot 79 00:03:27,560 --> 00:03:30,120 Speaker 5: of people out there who say, oh, this is that 80 00:03:30,200 --> 00:03:32,880 Speaker 5: he is a victim of the schedule of college football. 81 00:03:32,880 --> 00:03:36,920 Speaker 5: There's transfer portal and these coaches hirings and firings all 82 00:03:36,920 --> 00:03:39,400 Speaker 5: play into this decision. I wonder how much you factored 83 00:03:39,400 --> 00:03:43,160 Speaker 5: that into this while also Lane being a simply chaotic 84 00:03:43,280 --> 00:03:45,280 Speaker 5: character in the business of college sports. 85 00:03:46,320 --> 00:03:46,560 Speaker 10: Yeah. 86 00:03:46,600 --> 00:03:48,800 Speaker 9: I mean, look like at a very base level, right, like, 87 00:03:48,880 --> 00:03:50,680 Speaker 9: Lane is chaotic, and I think we can all agree 88 00:03:50,680 --> 00:03:52,080 Speaker 9: on that and the ways that he's gone out. We 89 00:03:52,120 --> 00:03:54,280 Speaker 9: talked about the Raiders, right, We talked about Ole miss 90 00:03:54,320 --> 00:03:56,560 Speaker 9: is the most recent one, you know that doesn't even mention, 91 00:03:56,680 --> 00:03:58,600 Speaker 9: you know, him being fired on the tarmac at usc 92 00:03:58,760 --> 00:03:59,480 Speaker 9: and everything. 93 00:04:00,080 --> 00:04:01,760 Speaker 8: And so so there's that, like we can set a 94 00:04:01,800 --> 00:04:02,520 Speaker 8: baseline there. 95 00:04:02,560 --> 00:04:05,720 Speaker 9: But I think that you know, Nick Saban was on 96 00:04:05,920 --> 00:04:08,840 Speaker 9: talking about the calendar a little bit. Kirk Hurbstreet was 97 00:04:08,840 --> 00:04:11,880 Speaker 9: talking about about that Lane should be allowed to coach 98 00:04:11,880 --> 00:04:13,640 Speaker 9: through the playoff and that this is a problem with 99 00:04:13,680 --> 00:04:15,960 Speaker 9: the calendar and all of these things, right, And I 100 00:04:16,000 --> 00:04:18,680 Speaker 9: think that, frankly, like that argument. 101 00:04:18,440 --> 00:04:22,320 Speaker 8: Is completely disingenuous. I think that, like, in my view 102 00:04:22,360 --> 00:04:23,800 Speaker 8: that you know, you. 103 00:04:23,800 --> 00:04:28,040 Speaker 9: Have a college sports calendar that operates on the university system, right, 104 00:04:28,080 --> 00:04:30,080 Speaker 9: so like college sports leaders might be ticked off about 105 00:04:30,080 --> 00:04:33,360 Speaker 9: how the calendar operates, but short of going and changing 106 00:04:33,360 --> 00:04:37,039 Speaker 9: the semester pro you know, programs at every school in America, like, 107 00:04:37,120 --> 00:04:39,359 Speaker 9: good luck fixing that, because that's just how this works, right. 108 00:04:39,480 --> 00:04:42,479 Speaker 9: These are tethered to institutions of higher education. And so 109 00:04:42,560 --> 00:04:46,280 Speaker 9: I think that you know, look, yes, is the timing 110 00:04:46,360 --> 00:04:49,320 Speaker 9: not ideal, absolutely right, Like, this is not a great 111 00:04:49,400 --> 00:04:51,800 Speaker 9: situation that Lane is having to leave a team in 112 00:04:51,880 --> 00:04:54,120 Speaker 9: the middle of a playoff. But you know, there's like 113 00:04:54,160 --> 00:04:56,480 Speaker 9: a pretty simple solution to all of this, and that's 114 00:04:56,520 --> 00:04:58,560 Speaker 9: that he would not take the LSU job and he 115 00:04:58,560 --> 00:05:01,880 Speaker 9: would coach all miss. I think that, like this is 116 00:05:01,920 --> 00:05:03,720 Speaker 9: sort of a thing that has come up a lot, 117 00:05:03,760 --> 00:05:06,280 Speaker 9: but I think that, yes, the calendar is broken, It's 118 00:05:06,560 --> 00:05:09,240 Speaker 9: got its issues, like, there is no question that like 119 00:05:09,400 --> 00:05:12,520 Speaker 9: the football calendar and the academic calendar are sort of 120 00:05:12,520 --> 00:05:13,400 Speaker 9: at odds. 121 00:05:13,040 --> 00:05:13,640 Speaker 8: So to speak. 122 00:05:15,080 --> 00:05:18,080 Speaker 9: But I think to say that this is not essentially 123 00:05:18,240 --> 00:05:23,360 Speaker 9: entirely out of Lane Kiffen's doing, I think is kind 124 00:05:23,400 --> 00:05:25,000 Speaker 9: of disingenuous generally speaking. 125 00:05:25,320 --> 00:05:28,480 Speaker 6: But then before we dig into five star quarterback Jared 126 00:05:28,520 --> 00:05:32,240 Speaker 6: Curtis flipping to Vandy, let's talk about Sports Business journal 127 00:05:32,279 --> 00:05:34,240 Speaker 6: I mean, you've just partnered with Bloomberg through our new 128 00:05:34,240 --> 00:05:37,880 Speaker 6: subscription bundle. It gives our audience access to both Bloomberg's 129 00:05:37,880 --> 00:05:42,360 Speaker 6: business reporting and SBG's industry leading sports coverage. And if 130 00:05:42,360 --> 00:05:46,760 Speaker 6: you're listening, you probably have already guessed college football. I mean, 131 00:05:46,920 --> 00:05:49,919 Speaker 6: the season's there, the season's nearly over, and there's going 132 00:05:50,000 --> 00:05:51,960 Speaker 6: to be some talk after the playoffs as to what 133 00:05:52,000 --> 00:05:53,839 Speaker 6: it looks like for the twenty six twenty seven campaign. 134 00:05:53,839 --> 00:05:56,279 Speaker 6: I know you've written on this extensively. You know, SEC 135 00:05:56,320 --> 00:05:59,760 Speaker 6: Commissioner Sanki prefers this five plus eleven format the Big 136 00:05:59,800 --> 00:06:02,760 Speaker 6: ten before something, prefer something different. Talk to us a 137 00:06:02,800 --> 00:06:05,800 Speaker 6: little bit about what you think comes next as we 138 00:06:05,839 --> 00:06:07,279 Speaker 6: get through this season and look to next. 139 00:06:08,360 --> 00:06:10,680 Speaker 8: Yeah, how much time you guys got I think that. 140 00:06:11,440 --> 00:06:15,600 Speaker 9: Look, I mean, I think, look, the college Football Playoff 141 00:06:15,680 --> 00:06:17,520 Speaker 9: is going to continue to be a conversation, and there's 142 00:06:17,520 --> 00:06:20,119 Speaker 9: been a conversation about whether to expand this thing beyond 143 00:06:20,160 --> 00:06:22,680 Speaker 9: twelve teams or go to sixteen or you know, Big 144 00:06:22,680 --> 00:06:24,720 Speaker 9: Ten Commissioner Tony Petiti has pushed the idea of as 145 00:06:24,720 --> 00:06:28,280 Speaker 9: many as twenty four teams. That conversation remains ongoing. Like 146 00:06:28,320 --> 00:06:31,240 Speaker 9: the people I've talked to, that remains ongoing. Those four 147 00:06:31,240 --> 00:06:34,080 Speaker 9: commissioners from the Big twelve, the ACC, the SEC, and 148 00:06:34,120 --> 00:06:37,720 Speaker 9: the Big Ten are essentially the ones in charge of that. 149 00:06:37,760 --> 00:06:39,760 Speaker 9: But ultimately it's going to be Greg Zank and Tony 150 00:06:39,760 --> 00:06:42,160 Speaker 9: Petiti who have to agree on that given the weighted 151 00:06:42,240 --> 00:06:45,400 Speaker 9: voting structure of how that works. There in theory was 152 00:06:45,440 --> 00:06:48,719 Speaker 9: a deadline of early December to have a decision on 153 00:06:48,760 --> 00:06:51,359 Speaker 9: what they would do for twenty six twenty seven. Naturally, 154 00:06:51,360 --> 00:06:53,440 Speaker 9: they blew past that deadline and have moved the deadline 155 00:06:53,480 --> 00:06:56,640 Speaker 9: to about four days after the National Championship in January. 156 00:06:56,760 --> 00:07:00,320 Speaker 9: So whether anything gets done between now and then, say, 157 00:07:00,400 --> 00:07:02,560 Speaker 9: I have my doubts. I've talked to some folks involved 158 00:07:02,600 --> 00:07:05,640 Speaker 9: in some of these conversations, and you know, there's not 159 00:07:05,720 --> 00:07:09,160 Speaker 9: exactly optimism. I would say that anything's going to get 160 00:07:09,200 --> 00:07:11,120 Speaker 9: done and that anything would change, but I would say, like, 161 00:07:11,120 --> 00:07:14,160 Speaker 9: there's some important caveats with this. So you know, as 162 00:07:14,160 --> 00:07:17,200 Speaker 9: it exists right now, the twelve team format, you're in 163 00:07:17,280 --> 00:07:18,600 Speaker 9: kind of a tight window as far as where you 164 00:07:18,600 --> 00:07:20,920 Speaker 9: can put these games. Obviously you're going head to head 165 00:07:20,920 --> 00:07:23,600 Speaker 9: with the NFL. That's a conversation with the first round games. 166 00:07:24,320 --> 00:07:26,160 Speaker 9: If you were to expand to I mean, let's play 167 00:07:26,160 --> 00:07:29,560 Speaker 9: it just sixteen teams, right, Like, the understanding is there's 168 00:07:29,880 --> 00:07:32,720 Speaker 9: a clause in the ESPN deal that would trigger renegotiation. 169 00:07:32,880 --> 00:07:36,600 Speaker 9: Given that you're adding essentially a couple extra games. If 170 00:07:36,680 --> 00:07:39,320 Speaker 9: it expands to I believe fourteen, which had been kicked 171 00:07:39,320 --> 00:07:43,040 Speaker 9: around a little bit, it wouldn't trigger that clause. So 172 00:07:43,440 --> 00:07:45,680 Speaker 9: that's an interesting piece of this. Of like, ESPN's already 173 00:07:45,720 --> 00:07:47,760 Speaker 9: paying billions of dollars for this property. Do they really 174 00:07:47,760 --> 00:07:50,520 Speaker 9: want to spend more on it? Realistically? Probably not right? 175 00:07:50,600 --> 00:07:52,240 Speaker 9: But what are they getting out of that as well? 176 00:07:52,520 --> 00:07:55,720 Speaker 9: Is an interesting piece of this as well. So again, 177 00:07:55,840 --> 00:07:58,640 Speaker 9: like I think these conversations remain ongoing. It's still a 178 00:07:58,720 --> 00:08:01,880 Speaker 9: question of like is twelve teams right? Is sixteen teams, right, 179 00:08:02,840 --> 00:08:03,920 Speaker 9: is twenty four teams? 180 00:08:04,000 --> 00:08:04,160 Speaker 10: Right? 181 00:08:04,280 --> 00:08:04,320 Speaker 11: Like? 182 00:08:04,360 --> 00:08:07,120 Speaker 9: Where you could build this out, and you know, the 183 00:08:07,200 --> 00:08:09,320 Speaker 9: concept that, as it's been explained to me, would be, 184 00:08:09,720 --> 00:08:11,400 Speaker 9: you know, you have twenty four teams in the playoff, 185 00:08:11,440 --> 00:08:14,640 Speaker 9: but instead of where you have traditional championship weekend games, 186 00:08:14,720 --> 00:08:18,560 Speaker 9: right the conference championship games that we're heading into and 187 00:08:18,680 --> 00:08:21,840 Speaker 9: all of that toward the end of the postseason, that 188 00:08:22,000 --> 00:08:24,120 Speaker 9: instead you would have essentially play in games and you 189 00:08:24,120 --> 00:08:27,800 Speaker 9: would have you know, high level conference matchups in that 190 00:08:27,880 --> 00:08:30,360 Speaker 9: last week of the season. So I think that becomes 191 00:08:30,360 --> 00:08:33,040 Speaker 9: an interesting conversation piece to all of that, and how 192 00:08:33,080 --> 00:08:35,360 Speaker 9: do you re imagine championship weekend. I think that's going 193 00:08:35,360 --> 00:08:38,840 Speaker 9: to happen regardless, but I do think that it's definitely 194 00:08:38,920 --> 00:08:41,600 Speaker 9: tethered to what happens with the CFP as well. 195 00:08:41,679 --> 00:08:41,800 Speaker 7: Well. 196 00:08:41,840 --> 00:08:44,680 Speaker 6: Michael Barr had fourteen teams. That means Vandy is a shooting. 197 00:08:44,840 --> 00:08:46,599 Speaker 6: I mean, if we had fourteen teams, Vandy's going to 198 00:08:46,600 --> 00:08:49,040 Speaker 6: the College football playoffs right now? I mean not everyone 199 00:08:49,280 --> 00:08:51,199 Speaker 6: like our friend Ben Port and I went to Indiana 200 00:08:51,240 --> 00:08:53,520 Speaker 6: and has those at quarterback. Is the number two team 201 00:08:53,559 --> 00:08:56,720 Speaker 6: ranked in the nation, right, Oh, that's what I was 202 00:08:56,720 --> 00:08:57,080 Speaker 6: gonna say. 203 00:08:57,080 --> 00:08:59,080 Speaker 9: I watch a lot of really bad football in my 204 00:08:59,120 --> 00:09:01,160 Speaker 9: four years. 205 00:09:01,240 --> 00:09:02,199 Speaker 8: This is pretty crazy. 206 00:09:02,679 --> 00:09:06,160 Speaker 5: I wonder how you view the NCAAA as an organization today. 207 00:09:06,160 --> 00:09:08,280 Speaker 5: I mean, if you look ten years ago, fifteen years ago, 208 00:09:08,320 --> 00:09:12,680 Speaker 5: they were responsible for suspending coaches and really enforcing the rules. 209 00:09:12,720 --> 00:09:15,360 Speaker 5: But now in a lot of my group chats, everyone's like, 210 00:09:15,559 --> 00:09:18,240 Speaker 5: the NCAA needs to do something, when not long ago 211 00:09:18,320 --> 00:09:20,640 Speaker 5: they were being villainized for saying, oh, they're not paying 212 00:09:20,679 --> 00:09:24,120 Speaker 5: athletes underservedly so, but nowadays it seems like this is 213 00:09:24,120 --> 00:09:26,600 Speaker 5: a free market economy. And as everyone you've heard this 214 00:09:26,800 --> 00:09:29,160 Speaker 5: term just as much as I have. It's the wild 215 00:09:29,160 --> 00:09:31,960 Speaker 5: wild West, and the NCAA doesn't really have the governance 216 00:09:31,960 --> 00:09:34,080 Speaker 5: that it used to talk to me about the role 217 00:09:34,160 --> 00:09:37,319 Speaker 5: that they play in college sports today because it doesn't 218 00:09:37,360 --> 00:09:40,360 Speaker 5: really seem like we're hearing as much of the power 219 00:09:40,440 --> 00:09:42,640 Speaker 5: shift that they had years ago. 220 00:09:43,559 --> 00:09:45,640 Speaker 9: Yeah, I mean, look, I think right now, the way 221 00:09:45,679 --> 00:09:47,720 Speaker 9: that college sports is set up, I think the power 222 00:09:47,760 --> 00:09:52,600 Speaker 9: for conferences ultimately have sort of the absolute power quote 223 00:09:52,679 --> 00:09:55,559 Speaker 9: unquote over the ecosystem and what in shape it's going 224 00:09:55,600 --> 00:09:58,120 Speaker 9: to take, generally speaking, and most of that driven through football, 225 00:09:59,040 --> 00:10:01,000 Speaker 9: as it really is. The nca I think look like 226 00:10:01,040 --> 00:10:03,480 Speaker 9: you've taken this entity that for such a long time 227 00:10:03,640 --> 00:10:08,319 Speaker 9: was involved in you know, investigations and you know, punishing 228 00:10:08,360 --> 00:10:10,520 Speaker 9: coaches and all of those things, and they're still sort 229 00:10:10,520 --> 00:10:11,800 Speaker 9: of in that game a little bit. 230 00:10:11,840 --> 00:10:13,360 Speaker 8: As it relates to like academics. 231 00:10:13,960 --> 00:10:16,199 Speaker 9: You saw them hand down a pretty significant penalties to 232 00:10:16,280 --> 00:10:19,880 Speaker 9: Michigan over the science stealing scandal. Both of those things 233 00:10:19,880 --> 00:10:24,760 Speaker 9: are sort of independent of you know, limiting player payments 234 00:10:24,800 --> 00:10:26,280 Speaker 9: and things like that. It's it's a little bit of 235 00:10:26,360 --> 00:10:29,079 Speaker 9: a different scope. But I do think there's an interesting 236 00:10:29,120 --> 00:10:31,760 Speaker 9: conversation of like what is the NCAA's role moving forward 237 00:10:32,040 --> 00:10:34,720 Speaker 9: and what do they look like. Certainly they're in charge 238 00:10:34,720 --> 00:10:37,760 Speaker 9: of running championships for a lot of these sports. That's 239 00:10:37,800 --> 00:10:40,440 Speaker 9: that's a really important thing, right, Like someone needs to 240 00:10:40,480 --> 00:10:43,360 Speaker 9: run the Division one cross country championship, right, And that's 241 00:10:43,360 --> 00:10:45,640 Speaker 9: not a knock on cross country, just a big at sport, right. 242 00:10:46,920 --> 00:10:48,920 Speaker 8: But I think there's a lot of folks that would say, 243 00:10:48,960 --> 00:10:50,559 Speaker 8: and you know, conversations I've had with. 244 00:10:50,480 --> 00:10:53,040 Speaker 9: People who talk about whether there needs to be someone 245 00:10:53,040 --> 00:10:55,439 Speaker 9: else running the men's and women's basketball tournaments, for example, 246 00:10:55,480 --> 00:10:58,400 Speaker 9: which are run by the NCAA. You know, there's some 247 00:10:58,440 --> 00:11:00,520 Speaker 9: criticism of like, hey, we could run these beads, or 248 00:11:00,600 --> 00:11:01,959 Speaker 9: you know, we can make more money off of these 249 00:11:01,960 --> 00:11:03,520 Speaker 9: if we ran them a different way, or whatever that 250 00:11:03,600 --> 00:11:06,680 Speaker 9: might be. So I think that you're seeing an nca 251 00:11:07,720 --> 00:11:10,920 Speaker 9: the NCAA shift from what was one sort of you know, 252 00:11:11,040 --> 00:11:13,800 Speaker 9: Judge Sharry executioner to something that's a little more. 253 00:11:15,080 --> 00:11:15,760 Speaker 8: Managerial. 254 00:11:15,840 --> 00:11:18,960 Speaker 9: Is probably overstating it, but I think that you know, 255 00:11:19,000 --> 00:11:20,880 Speaker 9: they're trying to figure out what that role is. And 256 00:11:20,920 --> 00:11:23,160 Speaker 9: I think you've seen again like the power for is 257 00:11:23,440 --> 00:11:25,680 Speaker 9: sort of the has sort of their tentacles on a 258 00:11:25,679 --> 00:11:28,480 Speaker 9: lot of this. The NCAA changed their governance structure entirely 259 00:11:28,520 --> 00:11:31,640 Speaker 9: to basically give those leagues voted waiting excuse me, weighted 260 00:11:31,720 --> 00:11:35,600 Speaker 9: voting on a bunch of their committees up and down, 261 00:11:35,640 --> 00:11:37,880 Speaker 9: and to slim things out and essentially a way to 262 00:11:38,160 --> 00:11:41,960 Speaker 9: simplify things. But also that would grant them more power 263 00:11:42,800 --> 00:11:45,080 Speaker 9: to operate more freely within the ecosystem. 264 00:11:45,160 --> 00:11:48,679 Speaker 8: So I think that it's a group that's in flux. 265 00:11:48,880 --> 00:11:51,520 Speaker 9: I think that, you know, certainly, like the staff at 266 00:11:51,559 --> 00:11:54,160 Speaker 9: the NCAA headquarters in Indianapolis is thinner than it has 267 00:11:54,200 --> 00:11:57,760 Speaker 9: been previously, and I think there's a lot of folks 268 00:11:57,800 --> 00:11:59,720 Speaker 9: there that are wondering, like, hey, what does this look 269 00:11:59,800 --> 00:12:01,480 Speaker 9: like moving forward? And I think it's a little bit 270 00:12:01,520 --> 00:12:04,280 Speaker 9: of a moving target. But I think that as this 271 00:12:04,400 --> 00:12:06,800 Speaker 9: moved to a more professionalized model, like there needs to 272 00:12:06,800 --> 00:12:09,719 Speaker 9: be someone in the center of this running things as 273 00:12:09,760 --> 00:12:11,920 Speaker 9: sort of a central hub. But I don't know that 274 00:12:12,400 --> 00:12:15,280 Speaker 9: the NCAA actually becomes that, right, especially as it relates 275 00:12:15,280 --> 00:12:18,520 Speaker 9: to college football, which is its own entity entirely, but 276 00:12:18,559 --> 00:12:21,280 Speaker 9: basketball becomes kind of the infliction point for a lot 277 00:12:21,320 --> 00:12:21,560 Speaker 9: of that. 278 00:12:22,160 --> 00:12:26,559 Speaker 6: Ben Portnoy, college sports reporter, Sports Business Journal, thank you 279 00:12:26,880 --> 00:12:28,520 Speaker 6: so much for taking the time to join us here 280 00:12:28,520 --> 00:12:31,080 Speaker 6: on the Bloomberg Business of Sports. We really do appreciate it. 281 00:12:31,760 --> 00:12:33,360 Speaker 8: Yeah, thanks for having me guys, this is great. Really 282 00:12:33,400 --> 00:12:33,960 Speaker 8: appreciate it. 283 00:12:34,000 --> 00:12:36,760 Speaker 6: And remember for our audience, Sports Business Journal has just 284 00:12:36,920 --> 00:12:39,720 Speaker 6: partnered with Bloomberg through our new subscription bundle, which gives 285 00:12:39,720 --> 00:12:43,640 Speaker 6: readers access to both Bloomberg's business reporting and spg's industry 286 00:12:43,720 --> 00:12:45,359 Speaker 6: leading sports coverage. 287 00:12:45,559 --> 00:12:48,240 Speaker 7: Up next, we turn to the gaming industry with bet 288 00:12:48,360 --> 00:12:52,600 Speaker 7: mgm CEO Adam green Black for Damianzaswa. I'm Michael Lahar. 289 00:12:53,000 --> 00:12:56,839 Speaker 7: You are listening to Bloomberg Business of Sports with Bloomberg 290 00:12:56,960 --> 00:12:58,360 Speaker 7: Radio around the world. 291 00:13:02,160 --> 00:13:06,160 Speaker 1: This is Bloomberg Business of Sports from Bloomberg Radio. 292 00:13:07,559 --> 00:13:11,360 Speaker 7: This is the Bloomberg Business of Sports, where we explore 293 00:13:11,400 --> 00:13:13,600 Speaker 7: the big money issues in the world of sports. 294 00:13:13,760 --> 00:13:16,560 Speaker 6: I'm Michael Barr, I'm Damian Sassor, and I'm an Esperdemo. 295 00:13:16,679 --> 00:13:20,160 Speaker 6: Prediction markets like Calshi and Polymarket are making a big 296 00:13:20,320 --> 00:13:23,240 Speaker 6: push into sports and some new startups are joining the 297 00:13:23,280 --> 00:13:23,680 Speaker 6: mix too. 298 00:13:23,920 --> 00:13:26,680 Speaker 7: To take us through the latest in the sports betting 299 00:13:26,760 --> 00:13:31,080 Speaker 7: space and whether prediction markets could present a real challenge 300 00:13:31,160 --> 00:13:35,040 Speaker 7: to the traditional gaming platforms. Is friend of the show, 301 00:13:35,200 --> 00:13:40,359 Speaker 7: bet MGM CEO Adam Greenblatt. Adam, Welcome to the Bloomberg 302 00:13:40,400 --> 00:13:41,400 Speaker 7: Business of Sports. 303 00:13:41,520 --> 00:13:44,119 Speaker 10: Well, thank you for having me. It's always great. 304 00:13:43,840 --> 00:13:44,280 Speaker 7: To be here. 305 00:13:44,679 --> 00:13:47,920 Speaker 6: And joining us for the conversation is another friend of 306 00:13:47,960 --> 00:13:51,600 Speaker 6: the show, Bloomberg News Global Sports Reporter Iira Budwey. 307 00:13:51,720 --> 00:13:57,520 Speaker 7: We're talking the chief executive officer of bet MGM and okay, 308 00:13:58,120 --> 00:14:00,640 Speaker 7: let's get the big elephant out of the room in 309 00:14:00,679 --> 00:14:03,760 Speaker 7: the first place. A lot of these scandals that have 310 00:14:03,880 --> 00:14:08,520 Speaker 7: come down here with the latest in baseball with Emmanuel 311 00:14:08,559 --> 00:14:14,000 Speaker 7: Class and Louis Ortiz and then their NBA scandals. You 312 00:14:14,040 --> 00:14:18,360 Speaker 7: know that's going on as well, has it hurt bett. 313 00:14:18,280 --> 00:14:22,600 Speaker 11: MGM, So I really appreciate you starting light Michael. 314 00:14:28,120 --> 00:14:30,560 Speaker 10: Look, the answer is it has. 315 00:14:31,480 --> 00:14:35,080 Speaker 11: It's these kind of scandals are bad for sport or 316 00:14:35,120 --> 00:14:38,920 Speaker 11: bad for the industry, bad for it's bad for everybody involved. 317 00:14:38,960 --> 00:14:44,520 Speaker 11: And our focus at bet MGM is responsible gambling and 318 00:14:44,560 --> 00:14:47,800 Speaker 11: sports integrity, and I feel like we need to we 319 00:14:47,840 --> 00:14:51,120 Speaker 11: need to stay focused on highlighting the bad actors, and 320 00:14:51,400 --> 00:14:55,960 Speaker 11: the legal regulated model for sports betting now today does that. 321 00:14:57,280 --> 00:15:01,440 Speaker 11: So the legal market basically it brings transparent andy and 322 00:15:01,480 --> 00:15:04,480 Speaker 11: it's the only way to protect players and to make 323 00:15:04,520 --> 00:15:07,960 Speaker 11: sure that games are fair. And so you know what 324 00:15:08,000 --> 00:15:11,360 Speaker 11: do we do? BETMGM helps to bring integrity to sports games, 325 00:15:11,600 --> 00:15:16,160 Speaker 11: how by partnering with leagues, with regulators, and with data 326 00:15:16,280 --> 00:15:22,520 Speaker 11: providers to bring transparency, to detect suspicious activity, and to 327 00:15:22,640 --> 00:15:25,840 Speaker 11: promote responsible gambling. So we don't want to see it. 328 00:15:25,840 --> 00:15:29,280 Speaker 11: It's bad for everybody involved. But on the positive side, 329 00:15:29,480 --> 00:15:32,800 Speaker 11: has it impacted BETMGM negatively or better still showing up? 330 00:15:33,040 --> 00:15:36,720 Speaker 11: And the answer is better's are still showing up. We've 331 00:15:36,760 --> 00:15:38,720 Speaker 11: had one of our last week, in fact, was one 332 00:15:38,720 --> 00:15:41,120 Speaker 11: of our best weeks in the history of BETMGM. 333 00:15:41,200 --> 00:15:44,360 Speaker 12: Adam while we're on this subject of that, and obviously 334 00:15:44,640 --> 00:15:47,600 Speaker 12: as we're looking at how those things can be you know, 335 00:15:47,720 --> 00:15:50,360 Speaker 12: regulated a little bit more, can you tell us about 336 00:15:50,400 --> 00:15:53,520 Speaker 12: how prop bets are going to be, you know, is 337 00:15:53,560 --> 00:15:57,040 Speaker 12: there more restrictions going forward, and how sports books can 338 00:15:57,600 --> 00:16:01,080 Speaker 12: you know, kind of do more on that side in 339 00:16:01,200 --> 00:16:03,400 Speaker 12: order to stop some of these problems from happening. 340 00:16:04,000 --> 00:16:08,680 Speaker 11: Yeah, look, the problems that are happening or as a 341 00:16:08,720 --> 00:16:11,240 Speaker 11: result of the involvement of bad actors. 342 00:16:12,280 --> 00:16:15,360 Speaker 10: Okay, the role of. 343 00:16:15,720 --> 00:16:21,400 Speaker 11: The legal sports betting market is to bring transparency to 344 00:16:21,720 --> 00:16:27,600 Speaker 11: these types of involvements. And my core concern is number one, 345 00:16:27,800 --> 00:16:33,080 Speaker 11: players like player propts and these kind of milestone markets. 346 00:16:33,120 --> 00:16:36,480 Speaker 11: You know, for example, we've seen growth in our milestone 347 00:16:36,920 --> 00:16:43,440 Speaker 11: markets for players to achieve certain milestones and games points, rebounds, 348 00:16:43,440 --> 00:16:48,280 Speaker 11: assists in the NBA as an example. Now, the concern 349 00:16:48,360 --> 00:16:51,120 Speaker 11: I have is to the extent that the legal market 350 00:16:51,200 --> 00:16:55,880 Speaker 11: says they're not allowed and players like it. Where do 351 00:16:55,960 --> 00:17:01,080 Speaker 11: players go? Players go to the illegal offshore markets. The 352 00:17:01,120 --> 00:17:04,200 Speaker 11: bad actors aren't going to disappear. What we want is 353 00:17:04,240 --> 00:17:07,840 Speaker 11: to bring transparency to to to the all of the 354 00:17:07,880 --> 00:17:11,360 Speaker 11: activity so that the bad actors can be exposed and 355 00:17:11,400 --> 00:17:13,840 Speaker 11: we can protect games, we can protect players. 356 00:17:14,520 --> 00:17:17,600 Speaker 3: It's interesting though, the leagues have convinced the major books, 357 00:17:17,640 --> 00:17:21,479 Speaker 3: I believe, including yours, to add some new, very narrow 358 00:17:21,560 --> 00:17:26,400 Speaker 3: targeted restrictions around single pitch bets and under bets on 359 00:17:27,160 --> 00:17:30,760 Speaker 3: the lowest paid NBA players. You see those as useful 360 00:17:30,800 --> 00:17:34,760 Speaker 3: ways to kind of curtail you know, match fixing and manipulation. 361 00:17:36,240 --> 00:17:38,520 Speaker 11: You know, who are our partners, the leagues and our 362 00:17:38,560 --> 00:17:43,000 Speaker 11: regulators and so as as good actors if you like, 363 00:17:44,160 --> 00:17:48,280 Speaker 11: we will comply with wherever we get to. But your 364 00:17:48,320 --> 00:17:52,320 Speaker 11: specific question, will these be effective? Certainly in the regulated 365 00:17:52,359 --> 00:17:56,840 Speaker 11: market they will be effective. Unfortunately, alongside that, as I've said, 366 00:17:56,880 --> 00:18:02,320 Speaker 11: there is that the exist of the illegal market where 367 00:18:02,560 --> 00:18:03,800 Speaker 11: the risk remains. 368 00:18:04,280 --> 00:18:08,639 Speaker 7: You guys are setting up a mobile site in Missouri. 369 00:18:08,960 --> 00:18:09,919 Speaker 7: Tell us more about that. 370 00:18:10,640 --> 00:18:13,920 Speaker 11: Yeah, this is this is the news of the week. 371 00:18:14,280 --> 00:18:16,639 Speaker 11: So we're very proud. We're very proud to bring our 372 00:18:16,760 --> 00:18:20,119 Speaker 11: award winning sports book to the to the state of 373 00:18:20,119 --> 00:18:24,639 Speaker 11: Missouri and basically expand our legal regulated sports betting offering. 374 00:18:25,160 --> 00:18:30,840 Speaker 11: Missouri represents our thirtieth market, so this is an elegant 375 00:18:30,880 --> 00:18:35,960 Speaker 11: milestone for BEDMGM. We now reach fifty of the US 376 00:18:36,080 --> 00:18:39,960 Speaker 11: population with our sports and gaming products, and in Missouri specifically, 377 00:18:41,520 --> 00:18:46,320 Speaker 11: we have our mobile offering alongside our new, brand new 378 00:18:46,520 --> 00:18:50,120 Speaker 11: and looks great bet MGM sportsbook at the Century Casino 379 00:18:50,200 --> 00:18:51,760 Speaker 11: and Hotel Cape Girardo. 380 00:18:52,560 --> 00:18:55,080 Speaker 12: Yeah, I'm really interested in how you guys, you know 381 00:18:55,160 --> 00:18:58,560 Speaker 12: you're when you're activating in these new spaces, and how 382 00:18:58,600 --> 00:19:01,960 Speaker 12: that's all playing into it, especially as we look at 383 00:19:02,359 --> 00:19:05,640 Speaker 12: prediction markets and how they're coming into play in these 384 00:19:05,680 --> 00:19:08,440 Speaker 12: spaces where sports betting is illegal. 385 00:19:08,520 --> 00:19:09,200 Speaker 1: Can you tell me. 386 00:19:09,160 --> 00:19:13,080 Speaker 12: About that when you're talking to states where in legislation 387 00:19:13,119 --> 00:19:15,600 Speaker 12: where they haven't past sports betting yet and now that 388 00:19:15,640 --> 00:19:20,679 Speaker 12: there's prediction markets in that space kind of competing already. 389 00:19:21,960 --> 00:19:28,720 Speaker 11: Yeah, Well, we see the legals regulated sports betting framework 390 00:19:29,200 --> 00:19:32,280 Speaker 11: as the best for bringing the product to sports betters 391 00:19:32,960 --> 00:19:36,720 Speaker 11: in a state. We don't see prediction markets as meaningful 392 00:19:36,760 --> 00:19:40,439 Speaker 11: long term threats to our visit to bet MGM. A 393 00:19:40,520 --> 00:19:44,480 Speaker 11: few reasons for that. Look, the majority of our revenue 394 00:19:44,520 --> 00:19:47,240 Speaker 11: comes from I gaming. That's the first point, and that 395 00:19:47,400 --> 00:19:51,719 Speaker 11: second is because we only operate in fully regulated states 396 00:19:51,880 --> 00:19:55,960 Speaker 11: where these platforms haven't gained meaningfull share and we don't 397 00:19:56,040 --> 00:19:59,800 Speaker 11: expect them to. We feel pretty good about where we 398 00:19:59,840 --> 00:20:03,840 Speaker 11: are and one moment. For the reason we feel good 399 00:20:03,880 --> 00:20:09,760 Speaker 11: about our role or the dominance of our offering in 400 00:20:09,840 --> 00:20:14,600 Speaker 11: legal states is because from a consumer's perspective, our offering 401 00:20:14,680 --> 00:20:17,480 Speaker 11: and value proposition is just better. You know, we have 402 00:20:17,560 --> 00:20:21,040 Speaker 11: more range, more betting range. It's easier for a player 403 00:20:21,119 --> 00:20:25,200 Speaker 11: to bet what you want to bet at the size 404 00:20:25,880 --> 00:20:28,720 Speaker 11: you want to bet, and in the combination of markets 405 00:20:28,720 --> 00:20:31,520 Speaker 11: of your choosing, it's just a better total experience. 406 00:20:31,680 --> 00:20:35,200 Speaker 10: And by the way, being a customer. 407 00:20:34,760 --> 00:20:39,919 Speaker 11: Of bet MGM is more rewarding than participating in the 408 00:20:39,920 --> 00:20:43,480 Speaker 11: prediction markets. Now, your point is important, which is, well, 409 00:20:43,480 --> 00:20:46,960 Speaker 11: what happens in the states which aren't yet legal, Well, 410 00:20:47,000 --> 00:20:51,280 Speaker 11: we're working hard to ensure that legalized sports betting expands 411 00:20:51,280 --> 00:20:54,240 Speaker 11: wherever possible, and we see the launch in Missouri as a, 412 00:20:54,680 --> 00:20:56,880 Speaker 11: you know, a further positive step in that direction. 413 00:20:57,720 --> 00:20:59,800 Speaker 3: Some of your competitors seem to be looking at a 414 00:20:59,840 --> 00:21:02,359 Speaker 3: model maybe of trying to do both where they're in 415 00:21:02,440 --> 00:21:05,520 Speaker 3: some states where they have licenses, they operate as regulated 416 00:21:05,520 --> 00:21:09,440 Speaker 3: sports books, and in states where there is no online 417 00:21:09,440 --> 00:21:12,200 Speaker 3: sports betting, they operate as prediction markets. Did you give 418 00:21:12,280 --> 00:21:14,280 Speaker 3: that any thought and why wouldn't you want to try 419 00:21:14,359 --> 00:21:16,480 Speaker 3: sort of that dual approach. 420 00:21:17,240 --> 00:21:21,040 Speaker 11: Yeah, look, we are monitoring this very closely and by 421 00:21:21,080 --> 00:21:26,600 Speaker 11: definition therefore, we have given this extensive thought and look 422 00:21:26,640 --> 00:21:30,000 Speaker 11: their developments every day, every day new information to consider 423 00:21:30,080 --> 00:21:35,480 Speaker 11: and recheck our previous analysis. And the guiding principle is 424 00:21:35,520 --> 00:21:41,440 Speaker 11: this legality and our relationships with state regulators are key 425 00:21:41,480 --> 00:21:45,240 Speaker 11: for US, and our state regulators have been clear on 426 00:21:45,560 --> 00:21:49,720 Speaker 11: their interpretation of both current law and their regulation. And 427 00:21:49,800 --> 00:21:54,720 Speaker 11: you know, recent rulings like the Nevada classifying calshi's sports 428 00:21:54,800 --> 00:21:59,479 Speaker 11: events contracts as gambling show that regulators are clear on 429 00:21:59,760 --> 00:22:02,600 Speaker 11: their interpretation of the rules and the law, and frankly 430 00:22:02,640 --> 00:22:07,000 Speaker 11: so that the legal system is confirming that position. And 431 00:22:07,040 --> 00:22:10,199 Speaker 11: so you know, our focus remains on delivering best in 432 00:22:10,240 --> 00:22:18,080 Speaker 11: class experience in regulated markets, and so we will we 433 00:22:18,119 --> 00:22:21,199 Speaker 11: will continue to monitor every day and so but at 434 00:22:21,240 --> 00:22:23,360 Speaker 11: this point, participation is not an option for us. 435 00:22:23,920 --> 00:22:26,600 Speaker 3: It's interesting it sounds like you don't anticipate that these 436 00:22:26,880 --> 00:22:30,760 Speaker 3: markets will necessarily persist in the current form offering sports 437 00:22:30,840 --> 00:22:34,320 Speaker 3: contracts over you know, as the legal process plays out, 438 00:22:34,840 --> 00:22:36,760 Speaker 3: you think they may not be able to operate as 439 00:22:36,800 --> 00:22:37,520 Speaker 3: they are now. 440 00:22:38,960 --> 00:22:43,760 Speaker 11: Well, we are analysis which is shared by you know, 441 00:22:45,000 --> 00:22:52,879 Speaker 11: mid thirties attorneys general and consistently by our regulators, is 442 00:22:52,920 --> 00:22:59,399 Speaker 11: that the prediction markets in sports, sports prediction contracts of 443 00:22:59,480 --> 00:23:05,920 Speaker 11: frankly legal sports betting, and so you know, until that changes, 444 00:23:07,160 --> 00:23:10,760 Speaker 11: you know, that's I don't anticipate that will change. You know, 445 00:23:10,800 --> 00:23:16,200 Speaker 11: with progressive rulings as the one in Nevada has set 446 00:23:16,200 --> 00:23:18,440 Speaker 11: a president for we have more of those, I think 447 00:23:18,440 --> 00:23:22,160 Speaker 11: we'll see that actually the scope of prediction market should 448 00:23:22,280 --> 00:23:30,280 Speaker 11: narrow and sports should return to being the domain of 449 00:23:30,320 --> 00:23:31,560 Speaker 11: the states and tribes. 450 00:23:32,280 --> 00:23:33,840 Speaker 12: Adam, One of the things you know, I want to 451 00:23:33,840 --> 00:23:37,840 Speaker 12: talk about before you go is the trends on women's 452 00:23:37,840 --> 00:23:41,439 Speaker 12: sports and betting in that space and how that's grown. 453 00:23:42,040 --> 00:23:44,919 Speaker 12: And I'm curious from your seat, do you see it 454 00:23:44,960 --> 00:23:46,920 Speaker 12: almost as this, You know, now we're in a space 455 00:23:46,920 --> 00:23:49,959 Speaker 12: where it's WNBA off season, it's the women's soccer off season, 456 00:23:50,359 --> 00:23:53,720 Speaker 12: but you can you know, there's other sports like ice hockey, volleyball, 457 00:23:53,760 --> 00:23:57,159 Speaker 12: softball in these emerging women's sports. Do you see it 458 00:23:57,160 --> 00:23:59,680 Speaker 12: as almost like a chicken in the egg where they 459 00:23:59,720 --> 00:24:02,600 Speaker 12: need to become more popular before they're you know, a 460 00:24:02,640 --> 00:24:07,080 Speaker 12: bigger given a bigger platform on your site, or if 461 00:24:07,119 --> 00:24:09,440 Speaker 12: you make them more available for betters will that help 462 00:24:09,520 --> 00:24:10,159 Speaker 12: grow the sport? 463 00:24:10,200 --> 00:24:15,199 Speaker 11: Do you think that's a really interesting question. One of 464 00:24:15,240 --> 00:24:19,360 Speaker 11: the reasons why we've seen such explosive growth in interest 465 00:24:19,440 --> 00:24:21,840 Speaker 11: in women's sports is because of the quality of the 466 00:24:22,520 --> 00:24:26,560 Speaker 11: quality of players and the you know, the star appeal. 467 00:24:27,040 --> 00:24:31,560 Speaker 11: You know, we've we've we've had really emergent women athletes 468 00:24:31,640 --> 00:24:36,560 Speaker 11: that that capture imaginations of fans, and it's that fandom 469 00:24:36,600 --> 00:24:39,920 Speaker 11: that drives engagement with our product. We can we can 470 00:24:39,960 --> 00:24:43,040 Speaker 11: spin up markets, we can make available markets, events and 471 00:24:43,119 --> 00:24:50,880 Speaker 11: markets really pretty simply quickly, and but we do want 472 00:24:50,920 --> 00:24:54,119 Speaker 11: to follow where the demand is and the thing that 473 00:24:54,240 --> 00:24:57,479 Speaker 11: drives demand is is the core of the thing that 474 00:24:57,560 --> 00:24:59,960 Speaker 11: drives demand is interesting in the sport. 475 00:25:00,400 --> 00:25:02,480 Speaker 7: Adam, thank you so much. We appreciate it. 476 00:25:02,520 --> 00:25:05,880 Speaker 6: Thank you for having me our thanks to bet MGM 477 00:25:06,000 --> 00:25:07,920 Speaker 6: CEO Adam Greenblatt. 478 00:25:08,200 --> 00:25:11,160 Speaker 7: Up next, we talked to the co founder and CEO 479 00:25:11,320 --> 00:25:16,439 Speaker 7: of Cain, an alternative asset manager specializing in real estate 480 00:25:16,600 --> 00:25:20,480 Speaker 7: that's seeing big opportunities in the world of sports. For 481 00:25:20,600 --> 00:25:24,480 Speaker 7: Damian sas Hour and Vanessa Perdomo. Michael Barr, you are 482 00:25:24,600 --> 00:25:28,119 Speaker 7: listening to the Bloomberg Business of Sports from Bloomberg Radio 483 00:25:28,280 --> 00:25:29,199 Speaker 7: around the world. 484 00:25:51,840 --> 00:25:55,080 Speaker 2: Miss the top headlines on Bloomberg Radio. Get the latest 485 00:25:55,119 --> 00:25:58,480 Speaker 2: news when you want it, updated continuously throughout the day 486 00:25:58,560 --> 00:26:02,359 Speaker 2: with Bloomberg News Now. Listen on Applecarplay and Android Auto 487 00:26:02,400 --> 00:26:05,720 Speaker 2: with the Bloomberg Business app, and anywhere you get your podcasts. 488 00:26:07,560 --> 00:26:11,560 Speaker 1: This is Bloomberg Business of Sports from Bloomberg Radio. 489 00:26:12,760 --> 00:26:15,119 Speaker 7: Thanks for joining us on the Bloomberg Business of Sports. 490 00:26:15,119 --> 00:26:17,159 Speaker 7: If we explore the big money issues in the world 491 00:26:17,240 --> 00:26:19,520 Speaker 7: of sports. I'm Michael Barr, I'm Damian. 492 00:26:19,200 --> 00:26:21,600 Speaker 6: Swasso, and I'm Vanessa Pernemokine is. 493 00:26:21,600 --> 00:26:26,080 Speaker 7: An alternative asset manager specializing in real estate that's seeing 494 00:26:26,160 --> 00:26:27,760 Speaker 7: big opportunities in sports. 495 00:26:28,040 --> 00:26:31,480 Speaker 6: That's right, Michael bar Kaine has over eight billion dollars 496 00:26:31,560 --> 00:26:35,560 Speaker 6: invested in sports, including Steaks and Chelsea FC, the Dodgers, 497 00:26:35,600 --> 00:26:39,000 Speaker 6: the Lakers. I mean, I think they do stuff in cricket. 498 00:26:39,040 --> 00:26:41,080 Speaker 6: I mean certainly they're one of the largest commercial real 499 00:26:41,160 --> 00:26:43,800 Speaker 6: estate players on the planet. I think we have a 500 00:26:43,800 --> 00:26:44,520 Speaker 6: lot to talk about. 501 00:26:44,840 --> 00:26:48,080 Speaker 7: Joining us to talk about the firm and it's sports 502 00:26:48,160 --> 00:26:53,360 Speaker 7: interests is co founder and CEO Jonathan Goldstein. Jonathan, Welcome 503 00:26:53,480 --> 00:26:55,160 Speaker 7: to the Bloomberg Business of Sports. 504 00:26:55,640 --> 00:26:57,760 Speaker 4: Thanks a lot, great to see you. What a great 505 00:26:57,800 --> 00:26:59,000 Speaker 4: smile to be greased with you. 506 00:26:59,119 --> 00:27:01,959 Speaker 6: Well, Jonathan, let's let's give our audience a little bit 507 00:27:01,960 --> 00:27:04,000 Speaker 6: of color here. I mean, Keane is one of the 508 00:27:04,000 --> 00:27:08,000 Speaker 6: world's most venerable global real estate investment but more development companies, right, 509 00:27:08,040 --> 00:27:10,560 Speaker 6: But you know you're also a director for Chelsea right 510 00:27:10,920 --> 00:27:13,240 Speaker 6: Premier League, and you also have some other sports and 511 00:27:13,280 --> 00:27:15,159 Speaker 6: media interests. I'd love to hear about that. You have 512 00:27:15,200 --> 00:27:18,679 Speaker 6: a one point two billion dollar portfolio which has a 513 00:27:18,680 --> 00:27:21,359 Speaker 6: lot of other stuff. Swingers, Saint James, talk to us 514 00:27:21,359 --> 00:27:24,080 Speaker 6: about that sports portfolio. What are your eyes on. 515 00:27:24,240 --> 00:27:27,080 Speaker 4: When I started the business with Todd Bowley, and Todd's obviously, 516 00:27:27,160 --> 00:27:29,200 Speaker 4: you know, well known to most people as a global 517 00:27:29,280 --> 00:27:33,560 Speaker 4: leader in sports, both with the Dodgers, the Lakers, Chelsea, 518 00:27:33,640 --> 00:27:36,840 Speaker 4: et cetera, et cetera. So obviously you know place to 519 00:27:36,920 --> 00:27:39,480 Speaker 4: my interest in sports when we're in business together, and 520 00:27:40,000 --> 00:27:42,280 Speaker 4: we spent some time in the you know, from when 521 00:27:42,320 --> 00:27:45,439 Speaker 4: we know joined up in business from twenty fourteen onwards 522 00:27:45,440 --> 00:27:48,439 Speaker 4: looking at the Premier League, and that resulted in twenty 523 00:27:48,480 --> 00:27:52,040 Speaker 4: twenty two with the consortium that Todd led to buy 524 00:27:52,119 --> 00:27:55,240 Speaker 4: Chelsea Football Club along with clear Lake. And you know, 525 00:27:55,359 --> 00:27:57,639 Speaker 4: Todd is the chair and you know, I think the 526 00:27:57,680 --> 00:28:00,879 Speaker 4: success of the last twelve months has begun to show 527 00:28:00,920 --> 00:28:03,560 Speaker 4: the you know that the fruits of the strategy that 528 00:28:03,640 --> 00:28:06,000 Speaker 4: the team there has put together and all credit to 529 00:28:06,040 --> 00:28:08,240 Speaker 4: them for everything they've done, and ending up of course 530 00:28:08,280 --> 00:28:10,360 Speaker 4: in the US by winning the Club World Cup back 531 00:28:10,359 --> 00:28:13,720 Speaker 4: in July at you at the stadium, Mett Stadium, which 532 00:28:13,800 --> 00:28:17,399 Speaker 4: was a great experience for everybody, along with President Trump 533 00:28:17,440 --> 00:28:20,800 Speaker 4: of course. And you know that that's led to other 534 00:28:20,880 --> 00:28:24,000 Speaker 4: interests in sport that that that we have you know, enjoyed. 535 00:28:24,240 --> 00:28:26,480 Speaker 4: I mean, Swingers is a great, great business. It's down 536 00:28:26,520 --> 00:28:28,680 Speaker 4: in New York, down in the Nomad region here and 537 00:28:29,200 --> 00:28:31,560 Speaker 4: as well as in Vegas and in the UK, and 538 00:28:31,600 --> 00:28:34,679 Speaker 4: we're about to open in Boston. And you know, whilst 539 00:28:34,720 --> 00:28:37,000 Speaker 4: it's not obviously mainline sports in the same way, it 540 00:28:37,080 --> 00:28:40,560 Speaker 4: plays to the same issues of experiential and playing to 541 00:28:40,600 --> 00:28:44,440 Speaker 4: people's interests and enjoyment of life and providing you know, 542 00:28:44,720 --> 00:28:49,440 Speaker 4: a multifacet experience with Carnival and fanfaares in the in 543 00:28:49,480 --> 00:28:51,040 Speaker 4: the experience as well, which is great. 544 00:28:51,880 --> 00:28:53,920 Speaker 13: And you know, the. 545 00:28:53,880 --> 00:28:55,680 Speaker 4: Thing that I think we're most proud of and most 546 00:28:55,720 --> 00:28:58,520 Speaker 4: excited about, Todd and I would be the Saint James. 547 00:28:59,280 --> 00:29:03,760 Speaker 4: We built this for facility outside of DC and in Springfield, Virginia. 548 00:29:04,440 --> 00:29:08,719 Speaker 4: And it's an extraordinary facility run by two great guys, 549 00:29:08,800 --> 00:29:12,760 Speaker 4: Kendrick Astro Ashton and Craig Dixon over fomed a thousand 550 00:29:12,800 --> 00:29:15,840 Speaker 4: square feet of sports, just pure sports everywhere you look 551 00:29:15,880 --> 00:29:19,080 Speaker 4: as a different sport, from hockey to a field house, 552 00:29:19,120 --> 00:29:22,880 Speaker 4: to basketball, to gymnastics, to golf simulated to an aquatic center, 553 00:29:23,920 --> 00:29:26,800 Speaker 4: et cetera, et cetera, et cetera. And Kendrick and Craig 554 00:29:26,840 --> 00:29:29,880 Speaker 4: have led that with great distinction over time. And what 555 00:29:29,920 --> 00:29:33,320 Speaker 4: we're seeing is that there is a huge, huge desire 556 00:29:33,920 --> 00:29:38,800 Speaker 4: in the marketplace for this fusion of performance, of wellness, 557 00:29:38,800 --> 00:29:41,160 Speaker 4: of health, of experiences. 558 00:29:41,520 --> 00:29:44,040 Speaker 6: Well, Jonathan, isn't that really what Kene's done, not just 559 00:29:44,120 --> 00:29:46,640 Speaker 6: in sports, but really in real estate as well. I mean, 560 00:29:46,680 --> 00:29:49,160 Speaker 6: I'm looking at the various different projects that you're from, 561 00:29:49,440 --> 00:29:52,120 Speaker 6: I mean from the donoh Hotel to I mean one 562 00:29:52,160 --> 00:29:54,680 Speaker 6: Beverly Hills to this new Raffles in Boston. I mean 563 00:29:54,920 --> 00:29:58,280 Speaker 6: it's all about, you know, building brands around experiences, correct. 564 00:29:58,320 --> 00:29:59,960 Speaker 6: And you know that seems to be something you know 565 00:30:00,240 --> 00:30:03,160 Speaker 6: class A from Class A office to hospitality that you 566 00:30:03,240 --> 00:30:05,240 Speaker 6: and the folks are keen are really really pride yourself 567 00:30:05,240 --> 00:30:08,160 Speaker 6: at So give us a little bit of what you're sniffing. 568 00:30:08,200 --> 00:30:10,440 Speaker 6: I mean, you're involved with the one Beverly Hills in LA. 569 00:30:10,600 --> 00:30:12,440 Speaker 6: Talked to us about the ramp up for the Olympics, 570 00:30:12,440 --> 00:30:15,280 Speaker 6: the development you're seeing going on there, especially on the 571 00:30:15,280 --> 00:30:17,680 Speaker 6: heels of the wildfires. I mean, what's going on on 572 00:30:17,720 --> 00:30:18,280 Speaker 6: the ground there. 573 00:30:19,080 --> 00:30:23,960 Speaker 4: Look, we're very proud of what we're doing in Beverly Hills. 574 00:30:23,560 --> 00:30:27,920 Speaker 4: It's market leading, there's nothing like it. And I think 575 00:30:27,920 --> 00:30:30,240 Speaker 4: you're right in picking up the fact that we've approached 576 00:30:30,280 --> 00:30:33,360 Speaker 4: the marketplace from a slightly different perspective in that we've 577 00:30:33,400 --> 00:30:36,800 Speaker 4: approached it simultaneously from the asset level but also from 578 00:30:36,840 --> 00:30:40,120 Speaker 4: the brand level. So we were the first investors in Amman. 579 00:30:40,320 --> 00:30:42,640 Speaker 4: We were followed by a pia from Saudi Arabia and 580 00:30:42,640 --> 00:30:46,120 Speaker 4: then a group from Abu Dhabi, together with obviously you know, 581 00:30:46,480 --> 00:30:49,920 Speaker 4: the chairman and controlling shoulder of lad Doronin. And we've 582 00:30:49,960 --> 00:30:52,720 Speaker 4: also done the same with the Dalano. We haven't just 583 00:30:52,800 --> 00:30:55,040 Speaker 4: said we want to own the real estate in Miami Beach. 584 00:30:55,160 --> 00:30:57,360 Speaker 4: We own one third of the brand. And what that 585 00:30:57,480 --> 00:30:59,800 Speaker 4: does is it you know, you have to get in 586 00:31:00,440 --> 00:31:05,360 Speaker 4: the experience of the customer, and you have to understand 587 00:31:05,440 --> 00:31:08,920 Speaker 4: what you're delivering to that customer as if it were you. Please, 588 00:31:09,040 --> 00:31:11,120 Speaker 4: you know, don't buy a hotel that you haven't gone 589 00:31:11,120 --> 00:31:16,120 Speaker 4: and stayed in. And I think it comes back to 590 00:31:16,160 --> 00:31:18,640 Speaker 4: a philosophy that I've had since I was a kid. 591 00:31:18,960 --> 00:31:22,280 Speaker 4: You've not lived your life until we've watched in the 592 00:31:22,280 --> 00:31:24,240 Speaker 4: shoes of the other man. And I think that's the 593 00:31:24,280 --> 00:31:26,440 Speaker 4: way we've approached our brands. That's the way we've approached 594 00:31:26,440 --> 00:31:30,400 Speaker 4: our hotels as the user, understanding what people want from 595 00:31:30,480 --> 00:31:34,040 Speaker 4: their real estate, understanding the experience that they would want, 596 00:31:34,200 --> 00:31:37,000 Speaker 4: which fundamentally is the experience that we would want for 597 00:31:37,080 --> 00:31:39,480 Speaker 4: us and our families and our friends. And I think 598 00:31:39,520 --> 00:31:41,560 Speaker 4: what we're doing in LA is exactly that. 599 00:31:41,960 --> 00:31:45,880 Speaker 7: Well, you've got world class sports facilities in more than 600 00:31:45,920 --> 00:31:49,520 Speaker 7: thirty sports. I mean we're talking to like some big 601 00:31:49,560 --> 00:31:53,760 Speaker 7: time facilities, which leads me to not only you can 602 00:31:53,800 --> 00:31:55,880 Speaker 7: you use that for sports, but a lot of the 603 00:31:55,920 --> 00:31:59,880 Speaker 7: facilities for like concerts and things like that. I'm sure 604 00:32:00,240 --> 00:32:01,400 Speaker 7: that has been used as well. 605 00:32:01,520 --> 00:32:02,480 Speaker 13: Correct, that's right. 606 00:32:02,840 --> 00:32:05,920 Speaker 4: I think that when you look at the facilities today 607 00:32:05,960 --> 00:32:08,400 Speaker 4: around the world that are being built, they have to 608 00:32:08,440 --> 00:32:12,640 Speaker 4: be multipurpose. They have to be multifaceted, because it's great 609 00:32:12,680 --> 00:32:14,960 Speaker 4: to have the anchor if you're an NFL stadium with 610 00:32:15,040 --> 00:32:18,560 Speaker 4: an NFL team, But if you look at SOFI and 611 00:32:18,640 --> 00:32:21,880 Speaker 4: the way that Sofi is renovated so many times a year. 612 00:32:22,280 --> 00:32:25,640 Speaker 4: And you know, Jason Gannon, who helped develop that for 613 00:32:25,720 --> 00:32:29,040 Speaker 4: stan Kront is now the president of Chelsea and he 614 00:32:29,080 --> 00:32:31,480 Speaker 4: is a great guy in helping build the vision for 615 00:32:31,600 --> 00:32:32,280 Speaker 4: next vision of. 616 00:32:32,200 --> 00:32:33,560 Speaker 13: Stanford Bridge and Chelsea. 617 00:32:33,600 --> 00:32:35,880 Speaker 4: But I think it's really important to understand that we're 618 00:32:35,880 --> 00:32:38,360 Speaker 4: in the entertainment business. And we're not just in the 619 00:32:38,440 --> 00:32:41,200 Speaker 4: entertainment business when the teams play, but we're obviously in 620 00:32:41,240 --> 00:32:44,080 Speaker 4: the entertainment business, you know, three hundred and sixty five 621 00:32:44,160 --> 00:32:44,640 Speaker 4: days a year. 622 00:32:44,680 --> 00:32:46,720 Speaker 6: Well, Jonathan, now you speak in our language, right, because 623 00:32:46,720 --> 00:32:49,160 Speaker 6: we know all about the mixed use around thediums and arenas. 624 00:32:49,200 --> 00:32:51,320 Speaker 6: You know, we've had plenty of guests that are involved 625 00:32:51,320 --> 00:32:53,840 Speaker 6: in that space, and you know, just from Baltimore to 626 00:32:54,200 --> 00:32:56,760 Speaker 6: d C to Buffalo to New York City. Well, at 627 00:32:56,760 --> 00:32:58,640 Speaker 6: the points Queen's right, I mean talk to us about 628 00:32:58,680 --> 00:33:01,200 Speaker 6: New York City. I mean with the casino licenses that 629 00:33:01,240 --> 00:33:03,600 Speaker 6: are coming out and what keen and what you are 630 00:33:03,600 --> 00:33:06,080 Speaker 6: most focused on. I mean, I got to imagine this 631 00:33:06,120 --> 00:33:07,520 Speaker 6: is just a huge opportunity for you. 632 00:33:07,640 --> 00:33:10,400 Speaker 4: No, we haven't got involved in the casino world. That's fair, 633 00:33:10,480 --> 00:33:11,560 Speaker 4: that's not been our world. 634 00:33:11,680 --> 00:33:14,840 Speaker 13: Okay. What we are believers in is New York City, Okay. 635 00:33:14,960 --> 00:33:18,880 Speaker 4: And so we've just acquired the Dominic hotel down in 636 00:33:19,800 --> 00:33:22,000 Speaker 4: you know, the edge of Soho on the Edge of Springs, 637 00:33:22,280 --> 00:33:25,360 Speaker 4: the old Trump Sohobhis became the dominant. We've acquired that 638 00:33:25,360 --> 00:33:27,280 Speaker 4: and we're going to rebrand it over the next eighteen 639 00:33:27,280 --> 00:33:30,440 Speaker 4: months to dell and know Soho, keeping that theme of 640 00:33:30,480 --> 00:33:33,320 Speaker 4: what we're doing, of the brand and the user very 641 00:33:33,400 --> 00:33:35,840 Speaker 4: much in our minds. So, you know, New York City 642 00:33:35,960 --> 00:33:40,320 Speaker 4: has an eclectic has a wonderful array of experiences for 643 00:33:40,400 --> 00:33:42,800 Speaker 4: people to enjoy, and we're seeing great growth and that 644 00:33:42,880 --> 00:33:45,640 Speaker 4: we're just actually finishing an office block between six and 645 00:33:45,720 --> 00:33:49,160 Speaker 4: seventh which is also doing very very well. And I 646 00:33:49,160 --> 00:33:51,680 Speaker 4: think there's a huge future here and we continually and 647 00:33:51,720 --> 00:33:53,640 Speaker 4: will continue to invest in New York City. 648 00:33:53,680 --> 00:33:55,160 Speaker 6: Well, let's move on to something that's near and dear 649 00:33:55,200 --> 00:33:56,240 Speaker 6: to Michael Barr's heart. 650 00:33:56,280 --> 00:33:56,680 Speaker 7: Cricket. 651 00:33:57,040 --> 00:33:59,560 Speaker 6: Michael Barr, you love cricket and the Trent Rockets, I mean, 652 00:33:59,600 --> 00:34:02,360 Speaker 6: and more point the you know the one hundred. Talk 653 00:34:02,360 --> 00:34:04,640 Speaker 6: to us about the hundred and your involvement there. The 654 00:34:04,720 --> 00:34:07,440 Speaker 6: short format cricket that you know is kind of taking 655 00:34:07,480 --> 00:34:09,760 Speaker 6: the world by storm, you know, and obviously Michael Barry, 656 00:34:09,800 --> 00:34:13,080 Speaker 6: you know, you know in sports gambling cricket is it's 657 00:34:13,160 --> 00:34:13,839 Speaker 6: nice stuff, right. 658 00:34:13,880 --> 00:34:15,719 Speaker 7: There's gambling going on in here. 659 00:34:16,239 --> 00:34:19,560 Speaker 13: Shut So if you if you take a step back. 660 00:34:19,680 --> 00:34:22,360 Speaker 4: Okay, so Americans have a view of cricket whereby you 661 00:34:22,400 --> 00:34:24,520 Speaker 4: play for five days, no one knows what goes on 662 00:34:24,560 --> 00:34:26,319 Speaker 4: and then there might not be a. 663 00:34:26,280 --> 00:34:29,120 Speaker 13: Result wiket of the game wicket right, and what does 664 00:34:29,160 --> 00:34:29,719 Speaker 13: it all mean? 665 00:34:29,760 --> 00:34:32,880 Speaker 4: And what are all these acronyms LBW and all this stuff? 666 00:34:32,880 --> 00:34:37,319 Speaker 4: But it stands for leg before week. And what has 667 00:34:37,400 --> 00:34:39,600 Speaker 4: happened over the course the last fifteen years is that, 668 00:34:39,719 --> 00:34:43,040 Speaker 4: led by you know, the Indian Premier League, the world 669 00:34:43,040 --> 00:34:46,520 Speaker 4: of short form cricket has transformed itself. And when you 670 00:34:46,600 --> 00:34:51,720 Speaker 4: look on a broadcast basis, the IPL is second only 671 00:34:51,800 --> 00:34:55,920 Speaker 4: to the NFL in broadcasting rights value. 672 00:34:55,640 --> 00:34:57,920 Speaker 6: Per game, per game, really per game. 673 00:34:58,080 --> 00:35:02,239 Speaker 4: Interesting, it's an eight week talk and you know it 674 00:35:02,320 --> 00:35:04,799 Speaker 4: leads the way behind the NFL, which obviously is the 675 00:35:04,840 --> 00:35:08,200 Speaker 4: global leader. And what we've seen is that you've seen 676 00:35:08,360 --> 00:35:11,279 Speaker 4: huge value uptick in the value of the franchises out 677 00:35:11,320 --> 00:35:15,000 Speaker 4: in India. And five years ago the English Cricket Board 678 00:35:15,080 --> 00:35:18,239 Speaker 4: started up their own competition called the one hundred, which 679 00:35:18,320 --> 00:35:20,239 Speaker 4: is not the same as in the Premier League, which 680 00:35:20,280 --> 00:35:24,320 Speaker 4: is one hundred and twenty deliveries. One hundred by its definition, 681 00:35:24,400 --> 00:35:27,640 Speaker 4: is one hundred deliveries. And speaking to my American audience, 682 00:35:27,680 --> 00:35:30,279 Speaker 4: I would just equate it to say, let's assume you 683 00:35:30,280 --> 00:35:34,320 Speaker 4: have a baseball game where each side gets one hundred 684 00:35:34,320 --> 00:35:38,400 Speaker 4: pitches and your job is to score as many runs 685 00:35:38,760 --> 00:35:40,759 Speaker 4: off that hundred pitches as you can. 686 00:35:41,000 --> 00:35:42,360 Speaker 7: That's a hell of an idea. 687 00:35:42,480 --> 00:35:45,000 Speaker 13: I like that, and that is what the hundred is. 688 00:35:45,320 --> 00:35:49,120 Speaker 4: You have one hundred deliveries, that's all each side, So 689 00:35:49,200 --> 00:35:51,279 Speaker 4: the game is over in two and a half hours. 690 00:35:51,280 --> 00:35:54,160 Speaker 4: It's very simple. Who scores the most runs off the 691 00:35:54,160 --> 00:35:55,080 Speaker 4: one hundred pitches? 692 00:35:55,200 --> 00:35:57,320 Speaker 6: Well, Jonathan and Michael barfera audience, let's just put some 693 00:35:57,400 --> 00:35:59,800 Speaker 6: numbers around this, right, if you look at average annual 694 00:36:00,320 --> 00:36:02,560 Speaker 6: metia rates, I'm talking here the NFL. It's the NFL's 695 00:36:02,560 --> 00:36:04,239 Speaker 6: world and world just living in it. It's twelve point 696 00:36:04,239 --> 00:36:07,400 Speaker 6: four billion a year, But ipl I had no idea. 697 00:36:07,440 --> 00:36:09,879 Speaker 6: I'm just looking right now, top ten one point two 698 00:36:10,120 --> 00:36:13,320 Speaker 6: billion dollars a year average annual value. That puts it 699 00:36:13,400 --> 00:36:15,520 Speaker 6: right in line with Syria, bun this league of the NHL. 700 00:36:15,760 --> 00:36:17,280 Speaker 6: You know, so I had no idea. 701 00:36:17,320 --> 00:36:18,719 Speaker 13: You have to look at it on a per game 702 00:36:18,760 --> 00:36:19,960 Speaker 13: base I remember the pre. 703 00:36:20,239 --> 00:36:21,799 Speaker 6: League, this is this is your rate. It's not a 704 00:36:21,800 --> 00:36:22,720 Speaker 6: premier league. 705 00:36:22,600 --> 00:36:23,560 Speaker 13: Has thirty eight games. 706 00:36:23,640 --> 00:36:26,359 Speaker 4: Yeah, the Indian Premier League the tournament stage I think 707 00:36:26,400 --> 00:36:27,400 Speaker 4: has fourteen games. 708 00:36:27,560 --> 00:36:30,480 Speaker 6: That's it. Yeah, I mean that's an unbelievable opportunity that 709 00:36:30,600 --> 00:36:32,800 Speaker 6: I mean unbelievable. I mean, right, Michael barn. 710 00:36:32,719 --> 00:36:35,560 Speaker 7: Yeah, I tell you as I think about it, just 711 00:36:35,600 --> 00:36:39,279 Speaker 7: when you put it in that perspective about cricket to baseball, 712 00:36:39,560 --> 00:36:41,960 Speaker 7: that's a hell of an idea in baseball. Tell you 713 00:36:42,000 --> 00:36:46,200 Speaker 7: one thing. You wouldn't have pitchers being accused of wasting 714 00:36:46,320 --> 00:36:50,000 Speaker 7: pitches by throwing something in the ground in baseball because 715 00:36:50,080 --> 00:36:52,680 Speaker 7: everyone counts. That's wow. 716 00:36:52,840 --> 00:36:54,799 Speaker 6: That's why Raffles calls Jonathan when they want to build 717 00:36:54,800 --> 00:36:55,680 Speaker 6: a hotel in Boston. 718 00:36:57,400 --> 00:37:00,440 Speaker 4: But I think the whole thing about sport is eating 719 00:37:01,400 --> 00:37:06,319 Speaker 4: those experiences that are just not replicable. And when you 720 00:37:06,440 --> 00:37:10,000 Speaker 4: talk about broadcast rights, I don't think anything detracts from 721 00:37:10,040 --> 00:37:13,439 Speaker 4: the live experience of being in these stadiums. When when 722 00:37:13,520 --> 00:37:16,839 Speaker 4: when when magical things happen and we all live our 723 00:37:16,880 --> 00:37:19,400 Speaker 4: lives and we've all got our highest moments. I actually 724 00:37:19,440 --> 00:37:22,240 Speaker 4: couldn't make the seventh game of the of the World Series, 725 00:37:22,760 --> 00:37:25,359 Speaker 4: but I can imagine watching row Has coming up at 726 00:37:25,360 --> 00:37:27,920 Speaker 4: the top of the ninth and hitting that home run, 727 00:37:28,280 --> 00:37:30,480 Speaker 4: you know. And what it also talks about, there are 728 00:37:30,520 --> 00:37:33,520 Speaker 4: so many life lessons to learn from sports. What does 729 00:37:33,560 --> 00:37:36,839 Speaker 4: it tell you every member of the team is important. Yeah, 730 00:37:36,880 --> 00:37:41,520 Speaker 4: you've got your amazing you know, goats in Otani, but 731 00:37:41,800 --> 00:37:43,000 Speaker 4: your number nine better. 732 00:37:43,880 --> 00:37:44,920 Speaker 13: He can make a difference. 733 00:37:44,960 --> 00:37:48,680 Speaker 4: Absolutely, And don't you forget. And I think that that's 734 00:37:48,719 --> 00:37:50,960 Speaker 4: a great life lesson for all of us, that we're 735 00:37:51,000 --> 00:37:53,760 Speaker 4: all on a team and we are only as strong 736 00:37:54,000 --> 00:37:55,560 Speaker 4: as the weakest part of our team. 737 00:37:55,680 --> 00:37:59,919 Speaker 7: Danavan, Oh my goodness, what a pleasure to talk with you, sir, 738 00:38:00,239 --> 00:38:03,040 Speaker 7: on the Bloomberg Business of Sports. We really do appreciate it. 739 00:38:03,080 --> 00:38:06,000 Speaker 6: Thank you for having me our thanks to Jonathan Goldstein 740 00:38:06,040 --> 00:38:08,720 Speaker 6: for joining us. He is the co founder and CEO 741 00:38:09,000 --> 00:38:10,680 Speaker 6: of Kane International. 742 00:38:10,400 --> 00:38:13,440 Speaker 7: What and that does it? For this edition of The 743 00:38:13,440 --> 00:38:16,120 Speaker 7: Bloomberg Business of Sports, where'd the time go? For my 744 00:38:16,200 --> 00:38:19,439 Speaker 7: colleagues Damian sas Hour and Vanessa Perdomo, I'm Michael Barr. 745 00:38:19,520 --> 00:38:21,880 Speaker 6: Tune in again next week for the latest on the 746 00:38:21,880 --> 00:38:24,440 Speaker 6: stories moving big money in the world of sports. And 747 00:38:24,560 --> 00:38:27,960 Speaker 6: don't forget to subscribe to our podcast on all your 748 00:38:28,000 --> 00:38:29,719 Speaker 6: favorite podcast platforms. 749 00:38:29,840 --> 00:38:32,640 Speaker 7: You are listening to The Bloomberg Business of Sports from 750 00:38:32,640 --> 00:38:34,680 Speaker 7: Bloomberger Radio around the world.