1 00:00:00,720 --> 00:00:04,800 Speaker 1: This is Bloomberg Business of Sports, where in a situation 2 00:00:04,880 --> 00:00:07,360 Speaker 1: that we haven't dealt with in modern times, the pandemic 3 00:00:07,440 --> 00:00:11,280 Speaker 1: here has really accelerated the investments that we've been advocating 4 00:00:11,360 --> 00:00:13,640 Speaker 1: for for a year. From a macro standpoint, I think 5 00:00:13,680 --> 00:00:16,880 Speaker 1: our sport industry is really forced to look at the 6 00:00:17,000 --> 00:00:20,079 Speaker 1: business a little bit differently. In depth conversations with the 7 00:00:20,239 --> 00:00:22,599 Speaker 1: leaders in the sports industry and he sport, there's a 8 00:00:22,640 --> 00:00:25,560 Speaker 1: good admiration. We're still moving forward part of something much 9 00:00:25,560 --> 00:00:27,720 Speaker 1: bigger than the sport right now, the health and standustry 10 00:00:27,760 --> 00:00:30,400 Speaker 1: of our stakeholders are real smart important every moment. I 11 00:00:30,440 --> 00:00:32,800 Speaker 1: think we're all from a business respective thinking about the 12 00:00:32,880 --> 00:00:35,360 Speaker 1: impact that the virus is having across the country. In 13 00:00:35,400 --> 00:00:40,120 Speaker 1: Bloomberg Business of Sports from Bloomberg Radio, Hi everyone, I'm 14 00:00:40,200 --> 00:00:42,760 Speaker 1: Jason Kelly, and I'm Mike Lynch and I'm Michael Barr. 15 00:00:42,840 --> 00:00:45,160 Speaker 1: Over the next hour, we will explore the big money 16 00:00:45,159 --> 00:00:47,479 Speaker 1: issues in the world of sports and talk to some 17 00:00:47,520 --> 00:00:49,800 Speaker 1: of the biggest players in the industry. Well, and this week, 18 00:00:49,800 --> 00:00:52,159 Speaker 1: Guy's there's really only one story in the business of 19 00:00:52,200 --> 00:00:55,560 Speaker 1: sports globally, and that is the European Super League. It came, 20 00:00:56,120 --> 00:00:59,480 Speaker 1: it went Earlier in the week we were talking about 21 00:01:00,080 --> 00:01:03,040 Speaker 1: it's creation, and by the time we got to the 22 00:01:03,120 --> 00:01:06,160 Speaker 1: end of the week it was gone. Why was it gone? 23 00:01:06,680 --> 00:01:09,880 Speaker 1: Let's have that Sky Sports commentator Gary Neville give us 24 00:01:09,880 --> 00:01:13,640 Speaker 1: a flavor for how people reacted to this proposal. I mean, 25 00:01:13,680 --> 00:01:15,800 Speaker 1: I'm a Man's United fan and have been for forty 26 00:01:15,880 --> 00:01:19,800 Speaker 1: years of my life, but I'm disgusted, absolutely disgusted. I'm 27 00:01:19,840 --> 00:01:22,839 Speaker 1: disgusted with Man's United in Liverpool most I mean Liverpool. 28 00:01:22,840 --> 00:01:25,360 Speaker 1: They pretend you know, you'll never walk alone, the people's club, 29 00:01:25,400 --> 00:01:29,160 Speaker 1: the fans club, Man's United a hundred years borne out 30 00:01:29,160 --> 00:01:31,840 Speaker 1: of workers around here, and they're breaking away into a 31 00:01:31,880 --> 00:01:35,399 Speaker 1: league without competition that they can't be relegated from. It's 32 00:01:35,440 --> 00:01:38,480 Speaker 1: an absolute disgrace and honestly, we have to wrestle back 33 00:01:38,520 --> 00:01:41,319 Speaker 1: the power in this country from the clubs at the 34 00:01:41,360 --> 00:01:43,840 Speaker 1: top of this league, and that includes my club. And 35 00:01:43,880 --> 00:01:46,000 Speaker 1: I've been calling for twelve months as part of another group, 36 00:01:46,040 --> 00:01:48,480 Speaker 1: for an independent regulator to bring checks and balances in 37 00:01:48,520 --> 00:01:52,960 Speaker 1: place to stop this happening. It's pure greed. They're impostors, 38 00:01:53,600 --> 00:01:55,640 Speaker 1: the owners of this club, the owners of Liverpool, the 39 00:01:55,640 --> 00:01:58,000 Speaker 1: owners of Chelsea, the owners of managed to city. There's 40 00:01:58,080 --> 00:02:01,160 Speaker 1: nothing to do with football in this country. That a 41 00:02:01,240 --> 00:02:04,120 Speaker 1: hundred nad years of history in this country from funds 42 00:02:04,160 --> 00:02:07,680 Speaker 1: that have lived and loved these clubs and they need protecting. 43 00:02:08,120 --> 00:02:10,680 Speaker 1: That is Gary Neville. That is a moment that went 44 00:02:10,919 --> 00:02:14,400 Speaker 1: viral after the Sky Sports commentator Uh let it fly 45 00:02:14,960 --> 00:02:19,640 Speaker 1: in many ways and his sentiment was shared widely on 46 00:02:19,720 --> 00:02:23,920 Speaker 1: social media in fan protest guys and later on in 47 00:02:23,919 --> 00:02:26,160 Speaker 1: the week we got to the point where the idea 48 00:02:26,360 --> 00:02:30,320 Speaker 1: was shelved permanently. It seems John Henry will hear a 49 00:02:30,320 --> 00:02:33,240 Speaker 1: clip from him later in the show he personally apologized. 50 00:02:33,280 --> 00:02:35,160 Speaker 1: He of course, as the head of Fenway Sports Group, 51 00:02:35,720 --> 00:02:38,600 Speaker 1: UH is one of the primary owners, the primary owner 52 00:02:38,680 --> 00:02:41,600 Speaker 1: of Liverpool Football Club. Once you heard Gary Neville UH 53 00:02:41,720 --> 00:02:45,400 Speaker 1: talk about there, we're gonna hear much more about this. 54 00:02:45,720 --> 00:02:48,839 Speaker 1: But in the meantime, you know Lynchy maybe picking up 55 00:02:48,919 --> 00:02:54,120 Speaker 1: off of the Boston Red Sox Liverpool connection. This was 56 00:02:54,240 --> 00:02:57,080 Speaker 1: kind of shocking in a lot of ways how poorly 57 00:02:57,120 --> 00:02:59,840 Speaker 1: it was rolled out and then how quickly it went away. 58 00:03:00,680 --> 00:03:03,800 Speaker 1: It almost seemed like an impulsive decision by these twelve owners. 59 00:03:03,800 --> 00:03:05,520 Speaker 1: Now we know it wasn't because it's been in the 60 00:03:05,520 --> 00:03:09,600 Speaker 1: works for some particular time. But the John Henry doesn't 61 00:03:09,639 --> 00:03:13,399 Speaker 1: really react to fan criticism over here when the Red 62 00:03:13,400 --> 00:03:16,480 Speaker 1: Sox fans are unsettled, but it's it's startling to us here. 63 00:03:16,560 --> 00:03:20,080 Speaker 1: How quickly he reacted to the well the discord among 64 00:03:20,080 --> 00:03:22,600 Speaker 1: all the fans in Liverpool and quickly came out and 65 00:03:22,639 --> 00:03:25,880 Speaker 1: posted something on Twitter. Very John Henry, like I can 66 00:03:25,919 --> 00:03:28,120 Speaker 1: tell you this, he hasn't spoken to the Red Sox 67 00:03:28,160 --> 00:03:32,520 Speaker 1: media in fourteen months. Yet within twenty four hours of 68 00:03:32,560 --> 00:03:35,240 Speaker 1: this decision, he goes on camera and he speaks to 69 00:03:35,320 --> 00:03:39,480 Speaker 1: the Liverpool fans. Very very very very startling. Power to 70 00:03:39,520 --> 00:03:42,600 Speaker 1: the people, Michael Barr, I mean that to me is 71 00:03:42,640 --> 00:03:45,880 Speaker 1: the real takeaway from all of this, having watched it unfold, 72 00:03:45,960 --> 00:03:49,160 Speaker 1: having washed unfold on Twitter, you know, in my inbox, 73 00:03:49,240 --> 00:03:53,640 Speaker 1: text messages, everything, you know, when on television. Were you 74 00:03:53,800 --> 00:03:57,800 Speaker 1: surprised at that sort of the power of the fans 75 00:03:57,840 --> 00:04:01,640 Speaker 1: being a fan yourself? Oh my goodness yet, because my 76 00:04:01,760 --> 00:04:05,840 Speaker 1: mindset is that sports, while yes it's entertaining, it's a 77 00:04:05,880 --> 00:04:08,880 Speaker 1: business and we've always drilled that it's a business. It's 78 00:04:08,880 --> 00:04:12,480 Speaker 1: a business. And finally you've got a major wake up 79 00:04:12,520 --> 00:04:15,080 Speaker 1: call where the fans said no, no, no, no, no, no, no, 80 00:04:15,640 --> 00:04:19,479 Speaker 1: we're the fans. It's not a business to us. This 81 00:04:19,520 --> 00:04:23,000 Speaker 1: is something very passionate to us. Wake up because we're 82 00:04:23,040 --> 00:04:26,680 Speaker 1: not happy with it. And what's interesting to guys is that, 83 00:04:26,720 --> 00:04:30,280 Speaker 1: in addition to the fans, we also heard from a 84 00:04:30,440 --> 00:04:32,719 Speaker 1: very small number of players. They were obviously sort of 85 00:04:32,720 --> 00:04:36,640 Speaker 1: caught betwixt and between. We heard from managers. Uh a 86 00:04:36,760 --> 00:04:39,240 Speaker 1: little bit. You're gonna clapp being one of them. Uh, 87 00:04:39,279 --> 00:04:41,960 Speaker 1: the manager of Liverpool will hear a little bit from 88 00:04:42,040 --> 00:04:44,640 Speaker 1: him later on in the show. But you know, one 89 00:04:44,640 --> 00:04:48,640 Speaker 1: of the interesting things from a political standpoint is in 90 00:04:48,800 --> 00:04:52,159 Speaker 1: the UK you had both the Prime Minister and the 91 00:04:52,200 --> 00:04:56,040 Speaker 1: opposition leader come out via Twitter. Let me read to 92 00:04:56,080 --> 00:04:58,279 Speaker 1: you what they said. So this is Boris Johnson, the 93 00:04:58,440 --> 00:05:01,800 Speaker 1: Prime Minister of the United Ingdom. I'm reading here plans 94 00:05:01,800 --> 00:05:04,320 Speaker 1: for a European super League would be very damaging for 95 00:05:04,360 --> 00:05:07,920 Speaker 1: football and we support football authorities in taking action, meaning 96 00:05:07,960 --> 00:05:11,880 Speaker 1: the Premier League, UEFA and FIFA. They would strike at 97 00:05:11,880 --> 00:05:14,520 Speaker 1: the heart of the domestic game and will concern fans 98 00:05:14,520 --> 00:05:17,440 Speaker 1: across the country. The clubs involved must answer to their 99 00:05:17,440 --> 00:05:20,600 Speaker 1: fans and the wider football in community before taking any 100 00:05:20,640 --> 00:05:23,680 Speaker 1: further steps. So that's Boris Johnson. Here on the other 101 00:05:23,720 --> 00:05:27,480 Speaker 1: side Cure Starmer, who is the Labor Party leader, so 102 00:05:27,520 --> 00:05:31,880 Speaker 1: basically Boris Johnson's political vote. They don't agree on anything. 103 00:05:32,200 --> 00:05:34,960 Speaker 1: Here's what Starmer had to say the Super League proposal 104 00:05:35,040 --> 00:05:38,080 Speaker 1: leaite today cuts across all the things that make football great. 105 00:05:38,120 --> 00:05:41,240 Speaker 1: It diminishes competition, it pulls up the drawbridge. It is 106 00:05:41,279 --> 00:05:44,719 Speaker 1: designed for and buy a small elite. But worst of all, 107 00:05:44,839 --> 00:05:48,919 Speaker 1: it ignores the fans. I mean Lynchy, I am of 108 00:05:49,000 --> 00:05:52,359 Speaker 1: the strong belief and we you know, we talked about 109 00:05:52,400 --> 00:05:56,200 Speaker 1: this with everybody we we speak to. I don't think 110 00:05:56,480 --> 00:05:58,320 Speaker 1: this would have happened a few years ago. I think 111 00:05:58,320 --> 00:06:00,680 Speaker 1: these guys would have figured out a way to just 112 00:06:00,800 --> 00:06:04,720 Speaker 1: jam this through. What do you think changed? People had 113 00:06:04,720 --> 00:06:08,400 Speaker 1: a lot of idle time, zoom is around, social media 114 00:06:08,440 --> 00:06:13,320 Speaker 1: has exploded, and people are are unhappy with this pandemic 115 00:06:13,400 --> 00:06:16,840 Speaker 1: going on, and enough bad things have happened to them 116 00:06:16,839 --> 00:06:19,320 Speaker 1: over the last fourteen months. We're not going to take 117 00:06:19,360 --> 00:06:21,920 Speaker 1: it anymore. Basically, I think of the old Network movie 118 00:06:21,920 --> 00:06:23,560 Speaker 1: when they're going to open up the window. I'm mad 119 00:06:23,600 --> 00:06:25,920 Speaker 1: as hell and I'm not gonna take it anymore. And 120 00:06:25,920 --> 00:06:27,800 Speaker 1: this is what happened now is we're taking this show 121 00:06:27,800 --> 00:06:31,320 Speaker 1: on Thursday morning, and this morning twenty fans broke into 122 00:06:31,360 --> 00:06:34,360 Speaker 1: the Manchester United training facility and they blocked the entrance 123 00:06:34,440 --> 00:06:36,760 Speaker 1: so the players and staff couldn't get in. Now it 124 00:06:36,800 --> 00:06:40,120 Speaker 1: was settled peacefully, but they had signs that said glazers out. 125 00:06:40,520 --> 00:06:43,719 Speaker 1: We decide when you play. And although this thing is settled, 126 00:06:43,960 --> 00:06:46,159 Speaker 1: I don't think. I think there's a lot of unsettledment 127 00:06:46,360 --> 00:06:48,400 Speaker 1: going on with fans and I think we'll go on 128 00:06:48,440 --> 00:06:51,120 Speaker 1: for a while, you know. Far. One of the things 129 00:06:51,200 --> 00:06:54,760 Speaker 1: that strikes me is that we've learned that there is 130 00:06:54,880 --> 00:06:58,679 Speaker 1: something different about fandom when it comes to English football. 131 00:06:58,720 --> 00:07:02,640 Speaker 1: It's something that I think we knew academically, but now emotionally, 132 00:07:02,680 --> 00:07:05,440 Speaker 1: I think we've seen it up close and personal. I 133 00:07:05,600 --> 00:07:09,440 Speaker 1: have to think that while many of us have deep 134 00:07:09,480 --> 00:07:11,680 Speaker 1: connections to our teams, we talked about it on this 135 00:07:11,720 --> 00:07:16,960 Speaker 1: show a lot, I'm not sure you can quantify in 136 00:07:17,320 --> 00:07:22,600 Speaker 1: any meaningful way the the or maybe you can now 137 00:07:22,760 --> 00:07:26,960 Speaker 1: maybe you you really do have a sense of how 138 00:07:27,000 --> 00:07:30,960 Speaker 1: impassioned and how forceful these connections are with these teams, 139 00:07:31,000 --> 00:07:34,480 Speaker 1: these English football teams. Because I don't know, like NFL owners, 140 00:07:34,720 --> 00:07:38,840 Speaker 1: NBA owners, MLB owners. I'll say it like they've done 141 00:07:38,880 --> 00:07:42,160 Speaker 1: some stupid stuff over the years, but I can't imagine 142 00:07:42,160 --> 00:07:46,720 Speaker 1: a situation where even your beloved Tigers, you know, fans 143 00:07:46,760 --> 00:07:49,960 Speaker 1: are literally storming the gates. I just don't see that happening. 144 00:07:50,000 --> 00:07:52,720 Speaker 1: I think they underestimated. And maybe because many of these 145 00:07:52,720 --> 00:07:57,520 Speaker 1: people are American, these owners, the passion with which and 146 00:07:57,560 --> 00:08:02,360 Speaker 1: the connection that the fans feel to these organizations, they 147 00:08:02,440 --> 00:08:05,640 Speaker 1: don't just view them as businesses. Listen, I you know, 148 00:08:05,760 --> 00:08:09,200 Speaker 1: I love my Detroit Tigers, but if the fans are 149 00:08:09,200 --> 00:08:13,320 Speaker 1: storming America Park is because it's free beer, You're not 150 00:08:13,320 --> 00:08:17,480 Speaker 1: gonna have that reaction for the Tigers or for many 151 00:08:17,520 --> 00:08:21,720 Speaker 1: other clubs that you have, for the English soccer teams 152 00:08:21,760 --> 00:08:24,560 Speaker 1: and so on. And and I want to bring this 153 00:08:24,640 --> 00:08:26,920 Speaker 1: up really quick to and it's a great article by 154 00:08:27,040 --> 00:08:30,800 Speaker 1: Bloomberg's Ruth David and David Hellier, and it's about the 155 00:08:30,840 --> 00:08:33,760 Speaker 1: Super League, but it's about the women's soccer and it 156 00:08:33,880 --> 00:08:40,240 Speaker 1: was just an afterthought. Uh. They were telling the women 157 00:08:40,320 --> 00:08:43,120 Speaker 1: that we're gonna have a similar female project and it's 158 00:08:43,120 --> 00:08:48,000 Speaker 1: gonna be started as soon as it's practicable, and obviously 159 00:08:48,640 --> 00:08:51,240 Speaker 1: many women were like, wait, what the heck is that 160 00:08:51,320 --> 00:08:54,160 Speaker 1: you know, we're just gonna be dismissed just like this, 161 00:08:54,400 --> 00:08:58,080 Speaker 1: and people in the industry, the women, they found it 162 00:08:58,120 --> 00:09:03,040 Speaker 1: disrespectful and unsurprised. And I think that's a part also 163 00:09:03,520 --> 00:09:07,559 Speaker 1: that needs to be brought up because women's soccer, it's 164 00:09:07,640 --> 00:09:09,839 Speaker 1: it's a great product and I wish people would take 165 00:09:09,840 --> 00:09:12,800 Speaker 1: advantage of it. Hey, Jason, the only thing that really 166 00:09:12,840 --> 00:09:16,760 Speaker 1: comes close to this on American sports turf the Charges 167 00:09:16,840 --> 00:09:19,280 Speaker 1: moving from San Diego to l A. Okay, some people 168 00:09:19,320 --> 00:09:22,280 Speaker 1: burn some jerseys the Charge. The Raiders move from Oakland 169 00:09:22,280 --> 00:09:24,920 Speaker 1: to Las Vegas. Okay, some people you know, burned the 170 00:09:25,000 --> 00:09:27,720 Speaker 1: Raider jersey and effigy And that's basically it. It goes 171 00:09:27,760 --> 00:09:30,199 Speaker 1: away in about, you know, three or four hours. Now. 172 00:09:30,200 --> 00:09:32,760 Speaker 1: We know no one's taking any of these teams away 173 00:09:32,800 --> 00:09:35,200 Speaker 1: from the cities or we're planning to do this for 174 00:09:35,240 --> 00:09:37,280 Speaker 1: the Super League. But I think it just shows you 175 00:09:37,440 --> 00:09:41,559 Speaker 1: the different level of passion from the European football fan 176 00:09:41,679 --> 00:09:45,000 Speaker 1: to the American football fan. Well, it is a multi 177 00:09:45,040 --> 00:09:47,920 Speaker 1: facinated story, to say the least. We are going to 178 00:09:48,000 --> 00:09:50,920 Speaker 1: spend the rest of the show talking to some key 179 00:09:51,040 --> 00:09:54,920 Speaker 1: voices about this from all of those angles. So happy 180 00:09:54,920 --> 00:09:57,840 Speaker 1: to have with US now Bluemberg finance reporter Tom Metcalf 181 00:09:57,960 --> 00:10:01,440 Speaker 1: longtime buddy of mine. He is a sporting fan but 182 00:10:01,600 --> 00:10:04,640 Speaker 1: knows so much about the business and the finance side 183 00:10:04,640 --> 00:10:09,120 Speaker 1: of this, and specifically Tom. JP Morgan's role in all 184 00:10:09,160 --> 00:10:12,599 Speaker 1: this is just bananas. Before we chat, let's hear what 185 00:10:12,760 --> 00:10:15,120 Speaker 1: James O'Neill, he's the chairman of the Council of Chatham 186 00:10:15,120 --> 00:10:19,520 Speaker 1: House and a former non executive director of Manchester United, 187 00:10:19,760 --> 00:10:22,640 Speaker 1: had to say to our colleague friend Qua. There's just 188 00:10:22,720 --> 00:10:25,400 Speaker 1: so many things about it that were just so ridiculous. 189 00:10:26,040 --> 00:10:28,400 Speaker 1: You know, amongst the millions of questions, you want to 190 00:10:28,400 --> 00:10:31,400 Speaker 1: get Jamie, you want to get Jamie on here from 191 00:10:31,600 --> 00:10:35,839 Speaker 1: JP Morgan and ask how on earth did such an 192 00:10:36,120 --> 00:10:40,800 Speaker 1: experience CEO that is so good at so many ways 193 00:10:41,160 --> 00:10:43,839 Speaker 1: by the standards of the industry I came from on 194 00:10:43,960 --> 00:10:47,160 Speaker 1: connecting with the real world. How on earth did they 195 00:10:47,240 --> 00:10:51,840 Speaker 1: let themselves get this proposal to where it got it. 196 00:10:51,600 --> 00:10:57,199 Speaker 1: It is ridiculous and epitomizes so much that has become 197 00:10:57,280 --> 00:11:01,920 Speaker 1: wrong about modern sport and particular football. JP Morgan did 198 00:11:02,000 --> 00:11:04,720 Speaker 1: end up breaking its silence on the Super League that 199 00:11:04,880 --> 00:11:09,400 Speaker 1: never was. Co president Daniel Pinto spoke with Bloomberg Television's 200 00:11:09,400 --> 00:11:13,320 Speaker 1: front row. We arranged along for a client. Is not 201 00:11:13,679 --> 00:11:18,520 Speaker 1: our place to this side? What is the optimal way 202 00:11:18,679 --> 00:11:23,000 Speaker 1: for football to operate in Europe? And they okay. And 203 00:11:23,040 --> 00:11:25,199 Speaker 1: the thing of it is Jason and again asked Tom this, 204 00:11:25,760 --> 00:11:29,000 Speaker 1: had this super league panned out, JP Morgan stood to 205 00:11:29,040 --> 00:11:31,880 Speaker 1: earn millions of dollars in fees and interest payments. This 206 00:11:31,960 --> 00:11:35,160 Speaker 1: is a huge part of the story. Tom remind us 207 00:11:35,280 --> 00:11:38,840 Speaker 1: what JP Morgan's role was in this proposed super So 208 00:11:39,120 --> 00:11:42,120 Speaker 1: you know, our understanding is they have pretty close ties 209 00:11:42,160 --> 00:11:44,400 Speaker 1: with quite a few of the club owners and in 210 00:11:44,440 --> 00:11:48,880 Speaker 1: particular the president of Real Madrid, who was understood to 211 00:11:48,880 --> 00:11:50,680 Speaker 1: be sort of the driving forced this. And what JP 212 00:11:50,800 --> 00:11:53,520 Speaker 1: Morgan we're basically doing was, you know, saying to these 213 00:11:53,559 --> 00:11:56,800 Speaker 1: twelve clubs is, look, we will lend you four point 214 00:11:56,840 --> 00:12:00,520 Speaker 1: eight billion dollars uh and you know, at three percent interest, 215 00:12:00,960 --> 00:12:03,520 Speaker 1: and you can use that as sort of the funds 216 00:12:03,559 --> 00:12:06,319 Speaker 1: to a type of clubs over it currently because most 217 00:12:06,360 --> 00:12:09,680 Speaker 1: of these football clubs are having very difficult times in 218 00:12:09,720 --> 00:12:12,960 Speaker 1: the pandemic without crowds, etcetera. And then also use the 219 00:12:12,960 --> 00:12:15,559 Speaker 1: rest of that money to sort of kind of seed 220 00:12:15,559 --> 00:12:18,800 Speaker 1: this new league um, and then you know, you presume 221 00:12:18,880 --> 00:12:21,520 Speaker 1: JP Morgan's thought were, Hey, if this league takes off, 222 00:12:21,559 --> 00:12:23,480 Speaker 1: we're going to be at the center of probably one 223 00:12:23,480 --> 00:12:26,520 Speaker 1: of the most lucrative brought in sporting franchises out there. 224 00:12:26,880 --> 00:12:30,400 Speaker 1: But yet, to use a technical term, it's pretty bananas 225 00:12:30,440 --> 00:12:32,440 Speaker 1: that they thought it would actually get off the ground, 226 00:12:32,600 --> 00:12:35,400 Speaker 1: because I mean, I think it all fell apart within 227 00:12:35,440 --> 00:12:39,360 Speaker 1: about forty eight hours. This is Michael Barr I want 228 00:12:39,360 --> 00:12:42,800 Speaker 1: to expand on that. Is this one of those things 229 00:12:42,960 --> 00:12:46,760 Speaker 1: where business thought this was a great idea and we 230 00:12:46,800 --> 00:12:49,200 Speaker 1: can make a boatload of money, as you had mentioned, 231 00:12:49,760 --> 00:12:54,400 Speaker 1: but did not expect the blowback from the fans, especially 232 00:12:54,480 --> 00:12:57,559 Speaker 1: in England. Yeah, I think I think that's right. I 233 00:12:57,600 --> 00:13:01,040 Speaker 1: think it's a miscalculation. I mean, on a purely business level, 234 00:13:01,120 --> 00:13:03,040 Speaker 1: it makes a lot of sense. You know, if you 235 00:13:03,040 --> 00:13:06,439 Speaker 1: look at sports in America, you know the closed system. 236 00:13:06,640 --> 00:13:10,120 Speaker 1: What that means is it's a great asset for the owners. 237 00:13:10,600 --> 00:13:12,920 Speaker 1: You know, they can also kind of keep a lid 238 00:13:12,960 --> 00:13:15,480 Speaker 1: on costs, etcetera, because there's not this sort of relentless 239 00:13:15,520 --> 00:13:18,200 Speaker 1: competition in terms of the fear of dropping out of 240 00:13:18,200 --> 00:13:22,440 Speaker 1: the you know, the big leagues, etcetera. But you know, 241 00:13:22,800 --> 00:13:25,080 Speaker 1: I think, yeah, when you kind of and I think 242 00:13:25,160 --> 00:13:27,880 Speaker 1: Jim O'Neill put it quite nicely there. You know, this is, 243 00:13:28,480 --> 00:13:30,400 Speaker 1: you know, football on the business side is perhaps coming 244 00:13:30,440 --> 00:13:34,160 Speaker 1: detached from the sports inside of that. And at least 245 00:13:34,160 --> 00:13:37,480 Speaker 1: in Europe, where you know, football has got very deep 246 00:13:37,640 --> 00:13:41,760 Speaker 1: local routes and sort of very entrenched traditions. You know, 247 00:13:42,000 --> 00:13:44,120 Speaker 1: you're going to have to be a brave financier to 248 00:13:44,160 --> 00:13:46,680 Speaker 1: sort of go up against you know, pretty much most 249 00:13:46,760 --> 00:13:50,199 Speaker 1: of society and some of these economies. Um. So I 250 00:13:50,240 --> 00:13:53,880 Speaker 1: don't think they quite calculated the extent of the blowback. 251 00:13:54,480 --> 00:13:56,920 Speaker 1: Um But you know, then again, you know, from Javis 252 00:13:57,000 --> 00:13:59,520 Speaker 1: Morgan's perspective, I suppose you know, they are the banker here. 253 00:13:59,559 --> 00:14:04,200 Speaker 1: They are just servicing their clients, and you know, I feel, 254 00:14:04,240 --> 00:14:06,720 Speaker 1: you know, when a Glazer comes up to say, you know, 255 00:14:06,800 --> 00:14:10,360 Speaker 1: perhaps their investment banker, they're probably not going to turn 256 00:14:10,400 --> 00:14:13,000 Speaker 1: them down. When there's millions of dollars of fees, etcetera. 257 00:14:13,320 --> 00:14:14,920 Speaker 1: How much money do you think was left on the 258 00:14:15,000 --> 00:14:18,600 Speaker 1: table each year for these clubs in this super league 259 00:14:18,640 --> 00:14:21,240 Speaker 1: that they would have split up. I mean it definitely 260 00:14:21,320 --> 00:14:23,800 Speaker 1: runs into the sort of hundreds of millions. And then 261 00:14:23,840 --> 00:14:27,000 Speaker 1: perhaps perhaps when it comes from the valuations, even the billions. 262 00:14:27,000 --> 00:14:30,040 Speaker 1: So you know, I think we've seen steadily that the 263 00:14:30,080 --> 00:14:33,640 Speaker 1: team valuations arise, but I I want to say that 264 00:14:33,760 --> 00:14:36,920 Speaker 1: NFL team valuations are still you know, ahead of even 265 00:14:37,000 --> 00:14:40,760 Speaker 1: clubs like Real Madrid or Manchester United, despite their global 266 00:14:40,800 --> 00:14:43,000 Speaker 1: fan base. And that's just because you know, in the 267 00:14:43,040 --> 00:14:46,040 Speaker 1: world of soccer or football, as we all over here, 268 00:14:46,680 --> 00:14:49,840 Speaker 1: the risks are just so intense. So you know, take 269 00:14:49,840 --> 00:14:53,560 Speaker 1: Manchester United. It's it's worth about three billion pounds, but 270 00:14:53,840 --> 00:14:56,320 Speaker 1: basically for the last ten ten years it hasn't really 271 00:14:56,360 --> 00:14:58,800 Speaker 1: been at the top table when it comes to the 272 00:14:58,840 --> 00:15:01,600 Speaker 1: sporting side of things, and that obviously is starting to 273 00:15:01,640 --> 00:15:04,360 Speaker 1: chip away um at its value. And you see a 274 00:15:04,400 --> 00:15:06,920 Speaker 1: club like Liverpool has done very well in recent years 275 00:15:06,920 --> 00:15:09,520 Speaker 1: and some boom, it's value is you know, right up 276 00:15:09,560 --> 00:15:13,200 Speaker 1: there where where previously it was languishing. So you know, 277 00:15:13,280 --> 00:15:15,000 Speaker 1: difficult put these numbers in. And that's the other thing 278 00:15:15,040 --> 00:15:17,360 Speaker 1: about sport. You also get owners who don't just read 279 00:15:17,400 --> 00:15:20,160 Speaker 1: the bottom line. So I thought it's very interesting that 280 00:15:20,280 --> 00:15:24,360 Speaker 1: both Chelsea and Manchester City, who both backed by very 281 00:15:24,480 --> 00:15:27,680 Speaker 1: very rich owners who are perhaps doing it less for 282 00:15:27,760 --> 00:15:30,280 Speaker 1: the financial sort of things, that more for the prestige 283 00:15:31,320 --> 00:15:35,960 Speaker 1: or even the glory. Yeah, Tom, you know that that 284 00:15:36,000 --> 00:15:38,800 Speaker 1: element of it, and you've done some such great reporting 285 00:15:38,800 --> 00:15:41,200 Speaker 1: over the years about you know, just sort of the 286 00:15:41,280 --> 00:15:43,120 Speaker 1: wealth in the world and the wealth in the in 287 00:15:43,120 --> 00:15:46,840 Speaker 1: the Wall Street world specifically. I mean that collision of 288 00:15:46,920 --> 00:15:51,320 Speaker 1: these ideologies in many ways and the complications that come 289 00:15:51,840 --> 00:15:55,280 Speaker 1: from these very public assets. There is a lot of 290 00:15:55,280 --> 00:15:58,360 Speaker 1: friction here, you know, in terms of how these guys 291 00:15:58,360 --> 00:16:00,880 Speaker 1: are used to doing business, and as you say, you know, 292 00:16:00,920 --> 00:16:02,400 Speaker 1: it's like, oh, I've got this great idea, I'm going 293 00:16:02,480 --> 00:16:05,480 Speaker 1: to call my banker and not sort of feather in 294 00:16:05,800 --> 00:16:10,320 Speaker 1: all of the different elements to that. I have wondered 295 00:16:10,360 --> 00:16:15,360 Speaker 1: aloud whether if this happened five years ago, these billionaire owners, 296 00:16:15,440 --> 00:16:18,800 Speaker 1: these oligarch owners, even if the fans had protested, might 297 00:16:18,840 --> 00:16:21,920 Speaker 1: have said, you know, we hear you, but we're doing 298 00:16:21,960 --> 00:16:24,160 Speaker 1: this anyway. It feels like we're at a different moment 299 00:16:24,160 --> 00:16:27,480 Speaker 1: when we think about sort of financiers and and and 300 00:16:27,600 --> 00:16:31,440 Speaker 1: rich folks. To be clear, Yeah, I mean, I think 301 00:16:31,600 --> 00:16:33,600 Speaker 1: you know, the way it's been portrayed in the UK, 302 00:16:33,680 --> 00:16:36,320 Speaker 1: it's just very much a victory for sort of fan power. 303 00:16:36,920 --> 00:16:39,600 Speaker 1: And you know what you've been seeing is a steady 304 00:16:40,360 --> 00:16:44,360 Speaker 1: clution of of sort of ownership basically just too you know, 305 00:16:44,440 --> 00:16:47,640 Speaker 1: individual billionaire owners. So for me, I mean, I'm an 306 00:16:47,720 --> 00:16:50,640 Speaker 1: Arsenal fan and that's owned by Stan Cranky, and I 307 00:16:50,640 --> 00:16:53,480 Speaker 1: think there's a sort of a pretty useful comparison you 308 00:16:53,480 --> 00:16:56,240 Speaker 1: can make between the sports team he owns in the 309 00:16:56,360 --> 00:16:59,640 Speaker 1: US and and obviously in the UK. So he's a 310 00:17:00,000 --> 00:17:01,200 Speaker 1: you know, it's about the call it the St. Louis 311 00:17:01,280 --> 00:17:03,920 Speaker 1: Rams NFL team, but obviously now it's the Los Angeles 312 00:17:04,040 --> 00:17:06,240 Speaker 1: Rams team, and that is much more common in the 313 00:17:06,359 --> 00:17:09,160 Speaker 1: US where perhaps the teams do move around a bit. 314 00:17:09,280 --> 00:17:12,919 Speaker 1: But you know, you know it basically if that just 315 00:17:12,920 --> 00:17:15,239 Speaker 1: would not happen or could not happen here, you'd kind 316 00:17:15,240 --> 00:17:17,920 Speaker 1: of ripped the heart out of the Arsenal Football club 317 00:17:17,920 --> 00:17:21,320 Speaker 1: if he moved it to, you know, somewhere out of London. Um. 318 00:17:21,440 --> 00:17:23,400 Speaker 1: And it's interesting. I just think, you know, the sporting 319 00:17:23,400 --> 00:17:27,639 Speaker 1: world in America and the UK are so different that 320 00:17:29,400 --> 00:17:31,280 Speaker 1: you know, perhaps that you know some of these owners, 321 00:17:31,320 --> 00:17:32,800 Speaker 1: and it seems to have have been driven largely by the 322 00:17:32,800 --> 00:17:35,959 Speaker 1: American owners were bringing that sensibility over and it just 323 00:17:36,040 --> 00:17:39,520 Speaker 1: doesn't quite translate. And I guess they've got a bit 324 00:17:39,560 --> 00:17:41,959 Speaker 1: of a lesson, and then obviously that the really interesting 325 00:17:42,000 --> 00:17:44,960 Speaker 1: question is how many of these folks bought the clubs, 326 00:17:45,119 --> 00:17:47,320 Speaker 1: you know, perhaps on the assumption that they could kind 327 00:17:47,320 --> 00:17:50,520 Speaker 1: of make some pretty drastic changes. Now those look further 328 00:17:50,600 --> 00:17:52,720 Speaker 1: away than ever. So what do you do if you're 329 00:17:52,720 --> 00:17:54,880 Speaker 1: a stand crankie who you know? Either way, he's made 330 00:17:54,880 --> 00:17:56,439 Speaker 1: a lot of money out of arsenal. He bought it 331 00:17:56,520 --> 00:17:59,520 Speaker 1: for let's call it, I think two billion. Eventually it's 332 00:17:59,560 --> 00:18:02,600 Speaker 1: probably you know, more like two and a half three. 333 00:18:02,880 --> 00:18:04,840 Speaker 1: But what does he really want to stick around and 334 00:18:05,000 --> 00:18:07,399 Speaker 1: kind of endure all this? You know, he's getting a 335 00:18:07,400 --> 00:18:09,639 Speaker 1: lot of sort of hate mail, I'm sure at this 336 00:18:09,680 --> 00:18:11,920 Speaker 1: point whether they kind of view it is worthwhile or 337 00:18:11,920 --> 00:18:13,600 Speaker 1: do they try and sell out? And then, of course 338 00:18:13,600 --> 00:18:16,000 Speaker 1: the other question is how many bars out there are 339 00:18:16,040 --> 00:18:19,040 Speaker 1: there for a football club with you know, where it's 340 00:18:19,040 --> 00:18:20,880 Speaker 1: being quite clear that you can't run it as sort 341 00:18:20,880 --> 00:18:24,440 Speaker 1: of a business. Um, And then who's got this sort 342 00:18:24,480 --> 00:18:28,439 Speaker 1: of three billion quid you might need to do that? Yeah, Well, 343 00:18:28,480 --> 00:18:30,439 Speaker 1: and much more to come on this story. And I 344 00:18:30,480 --> 00:18:32,439 Speaker 1: know one of the things that that you're following is 345 00:18:32,480 --> 00:18:36,679 Speaker 1: what may happen on the financing side for the for 346 00:18:36,960 --> 00:18:40,439 Speaker 1: a revised I should say Champions League, so we'll be 347 00:18:40,760 --> 00:18:44,040 Speaker 1: on the lookout for that. Tom met cafinance reporter for Bloomberg, 348 00:18:44,119 --> 00:18:45,720 Speaker 1: Thank you so much. Trually get to catch up with you. 349 00:18:46,000 --> 00:18:49,960 Speaker 1: Thank you. Joining us now NBC Sports Premier League analyst 350 00:18:50,080 --> 00:18:54,800 Speaker 1: former footballer himself, Robbie Musto. He joins us from Connecticut. Robbie, 351 00:18:54,960 --> 00:18:58,600 Speaker 1: we were joking before we started recording. I mean, what 352 00:18:58,720 --> 00:19:01,720 Speaker 1: a week it's been. A caman went so quickly tell 353 00:19:01,760 --> 00:19:06,000 Speaker 1: me what the experience was like for you. Well, it was, 354 00:19:06,720 --> 00:19:12,639 Speaker 1: I mean talk about social media being absolutely like critical 355 00:19:12,960 --> 00:19:16,840 Speaker 1: and amazing viewing over those few days from Sunday to 356 00:19:16,920 --> 00:19:20,240 Speaker 1: Wednesday when the rumors first came out, Um, and then 357 00:19:20,240 --> 00:19:24,000 Speaker 1: you couldn't quite believe that this was Wow, this is happening, 358 00:19:24,160 --> 00:19:26,280 Speaker 1: Like there's been talking this super league for many many 359 00:19:26,359 --> 00:19:29,280 Speaker 1: years and um and you know we've kind of heard 360 00:19:29,280 --> 00:19:32,200 Speaker 1: it before. But on whenever it was it was Sunday night, 361 00:19:32,240 --> 00:19:36,280 Speaker 1: was late that it was announced. Um wow, um, so 362 00:19:36,880 --> 00:19:39,800 Speaker 1: very very quick. Um. I think when you got the 363 00:19:39,840 --> 00:19:43,080 Speaker 1: details of it, I was waiting for the bits where 364 00:19:43,119 --> 00:19:46,240 Speaker 1: like this is potentially feasible and this is kind of okay, 365 00:19:46,280 --> 00:19:48,840 Speaker 1: And there were no bits in any part of the announcement, 366 00:19:49,480 --> 00:19:52,560 Speaker 1: any port of the reports, um that this was going 367 00:19:52,640 --> 00:19:55,200 Speaker 1: to be okay, And it was like wow. I mean 368 00:19:55,200 --> 00:19:58,720 Speaker 1: there was genuine from me and many people in my 369 00:19:58,800 --> 00:20:01,080 Speaker 1: position and the love game as much as I do 370 00:20:01,119 --> 00:20:03,320 Speaker 1: and I know a little bit about it. That was 371 00:20:03,400 --> 00:20:06,240 Speaker 1: genuine worry that this could happen. You remember being on 372 00:20:06,240 --> 00:20:09,159 Speaker 1: the set of Robbio on our show and I think 373 00:20:09,240 --> 00:20:12,439 Speaker 1: Robbie said this, this is serious with all these clubs 374 00:20:12,480 --> 00:20:16,520 Speaker 1: signing up for it and big clubs and um, so listen, 375 00:20:16,560 --> 00:20:20,520 Speaker 1: we'll get into details. But it came very quickly, So 376 00:20:20,640 --> 00:20:24,080 Speaker 1: thankful that went away very quickly as well after you know, 377 00:20:24,160 --> 00:20:25,960 Speaker 1: that was the fund that was not on social media 378 00:20:25,960 --> 00:20:28,679 Speaker 1: when it was Chelsea. It was Chelsea. Reports are that 379 00:20:28,800 --> 00:20:30,880 Speaker 1: Chelsea are going to pull out of the Super League 380 00:20:30,880 --> 00:20:34,679 Speaker 1: and I'm like boom, wow, finally one club is going 381 00:20:34,760 --> 00:20:38,840 Speaker 1: to make a stand. And then quickly after that it 382 00:20:38,920 --> 00:20:42,920 Speaker 1: collapsed and fell apart. Well, since you mentioned Chelsea and 383 00:20:43,240 --> 00:20:46,880 Speaker 1: I was looking at this according to King PMG Football 384 00:20:46,960 --> 00:20:51,320 Speaker 1: Benchmark and this is about the money that the club's lost, 385 00:20:51,440 --> 00:20:55,800 Speaker 1: and Milan was number one the last season over like 386 00:20:55,880 --> 00:21:00,320 Speaker 1: a hundred ninety four point six million euros, but else 387 00:21:01,240 --> 00:21:08,000 Speaker 1: made money point eight million euros. Why did Chelsea make 388 00:21:08,000 --> 00:21:11,600 Speaker 1: the money and Milan just got a clumber? Well, I 389 00:21:11,640 --> 00:21:13,760 Speaker 1: think every club is very, very different, and I think 390 00:21:13,760 --> 00:21:16,879 Speaker 1: when you see these these profit numbers and stuff, it's, 391 00:21:16,920 --> 00:21:21,639 Speaker 1: you know, sometimes it's on on transfers and player transfer fees, 392 00:21:22,200 --> 00:21:24,600 Speaker 1: and I think I think we've definitely seen that right 393 00:21:24,640 --> 00:21:27,520 Speaker 1: across the board through the pandemic. The clubs have been massively, 394 00:21:27,640 --> 00:21:32,119 Speaker 1: massively hit, but there's differences. I mean, Chelsea is is 395 00:21:32,240 --> 00:21:34,399 Speaker 1: very unusual that the owner there, of course we know 396 00:21:34,520 --> 00:21:37,960 Speaker 1: Roman Robranovich puts a ton of money into that football 397 00:21:37,960 --> 00:21:41,000 Speaker 1: club at all times. It just recently spent a load 398 00:21:41,040 --> 00:21:43,159 Speaker 1: of money so that the profit numbers they're kind of 399 00:21:43,160 --> 00:21:45,440 Speaker 1: surprised me because they spent a lot of money recently 400 00:21:46,000 --> 00:21:48,320 Speaker 1: on getting some of the best talent around now in 401 00:21:48,320 --> 00:21:51,600 Speaker 1: different countries. And this is where maybe where I think 402 00:21:51,600 --> 00:21:55,200 Speaker 1: this is pushed. It's obviously pushed from from the American 403 00:21:55,240 --> 00:21:58,080 Speaker 1: owners of the Premier League sides that I guess are 404 00:21:58,080 --> 00:22:02,159 Speaker 1: trying to maximize revenues and Google, oh their their clubs, 405 00:22:02,200 --> 00:22:05,520 Speaker 1: but I think it's more from the Italian clubs that 406 00:22:05,720 --> 00:22:09,600 Speaker 1: don't have they don't have the financial backing that the 407 00:22:09,640 --> 00:22:12,359 Speaker 1: Premier League does through the TV deals and through match 408 00:22:12,400 --> 00:22:16,640 Speaker 1: day revenues, etcetera, etcetera. And Spanish football it's in Florentin 409 00:22:16,840 --> 00:22:20,600 Speaker 1: Florentino Perez, the REDID president is the main guy for 410 00:22:20,640 --> 00:22:24,680 Speaker 1: the super League. You know, in Laiga, their their TV 411 00:22:24,840 --> 00:22:29,160 Speaker 1: distribution is so heavily weighted to the BYM, to the 412 00:22:29,200 --> 00:22:33,159 Speaker 1: Barcelonas and Real Madrids that it makes it uncompetitively. So 413 00:22:33,240 --> 00:22:35,720 Speaker 1: there's a seeding for that. So I think a combination 414 00:22:35,760 --> 00:22:39,040 Speaker 1: of the the ceiling that the some of the bigger 415 00:22:39,040 --> 00:22:41,280 Speaker 1: clubs feel in Italy in Spain as well as the 416 00:22:41,320 --> 00:22:44,080 Speaker 1: American guys thinking roll, yeah, maybe there's something in this 417 00:22:44,160 --> 00:22:47,760 Speaker 1: has led to the super League. Um and yeah, just 418 00:22:47,800 --> 00:22:50,040 Speaker 1: going back to Chelsea and you know, I think to 419 00:22:50,119 --> 00:22:52,119 Speaker 1: be fair and this is again it's kind of a 420 00:22:52,160 --> 00:22:55,320 Speaker 1: little bit of hearsay, but Chelsea and Man City were 421 00:22:55,880 --> 00:22:58,800 Speaker 1: the last of the English clubs to get on board. 422 00:22:58,880 --> 00:23:01,640 Speaker 1: It was like listen, trains leading the station, You've got 423 00:23:01,640 --> 00:23:04,679 Speaker 1: to jump on as we announced this, um so I 424 00:23:04,680 --> 00:23:07,600 Speaker 1: think they did, and it was it's actually Man City 425 00:23:07,600 --> 00:23:10,480 Speaker 1: and Chelsea the first ones to jump out of it. 426 00:23:10,520 --> 00:23:13,159 Speaker 1: As well. We saw when we heard the outrage of 427 00:23:13,240 --> 00:23:15,960 Speaker 1: the fans, but we really haven't heard anything from any 428 00:23:15,960 --> 00:23:19,880 Speaker 1: of the players. What is the temperament of the players 429 00:23:20,000 --> 00:23:22,119 Speaker 1: right now? Have you talked to anyone or as a 430 00:23:22,119 --> 00:23:25,960 Speaker 1: former player, what would your temperament be. Well, I would 431 00:23:26,000 --> 00:23:27,960 Speaker 1: be disgusted with it. I think I would be a 432 00:23:28,000 --> 00:23:31,120 Speaker 1: little bit nervous about what I could say. And Mike 433 00:23:31,320 --> 00:23:34,359 Speaker 1: that there was some comments and you know, studying it 434 00:23:34,320 --> 00:23:37,560 Speaker 1: as closely as course as we do. The Monday night 435 00:23:37,600 --> 00:23:42,280 Speaker 1: game was Leeds Liverpool and James Milner, very very respected, 436 00:23:43,600 --> 00:23:46,680 Speaker 1: a legend really of footballs and bennets and big clubs. 437 00:23:46,680 --> 00:23:50,000 Speaker 1: I think he's thirty five now, basically said I don't 438 00:23:50,040 --> 00:23:51,919 Speaker 1: like it, you know. And I think he was the 439 00:23:51,960 --> 00:23:54,680 Speaker 1: first player that I heard that said something, because he's 440 00:23:54,840 --> 00:23:56,960 Speaker 1: experienced enough to be confident enough to be able to 441 00:23:57,000 --> 00:24:00,560 Speaker 1: say whatever he wants really within reason. Um. And also 442 00:24:00,600 --> 00:24:03,040 Speaker 1: there were statements they came out before this collapse. By 443 00:24:03,080 --> 00:24:05,879 Speaker 1: the way, Kevin de Bruner put out quite a nice 444 00:24:05,960 --> 00:24:08,680 Speaker 1: big statement on his social media saying, listen, I was 445 00:24:08,720 --> 00:24:11,320 Speaker 1: a kid, a boy growing up in Belgium, I had 446 00:24:11,400 --> 00:24:14,320 Speaker 1: dreams to to reach the very top. Of course, the 447 00:24:14,320 --> 00:24:17,399 Speaker 1: Super League would have would have absolutely destroyed the dreams 448 00:24:17,440 --> 00:24:21,960 Speaker 1: of kids and players all over all over Europe. So 449 00:24:22,080 --> 00:24:24,240 Speaker 1: there was a few that came out urg and clopping 450 00:24:24,280 --> 00:24:28,239 Speaker 1: that very same game. The manager Liverpool kind of you know, 451 00:24:28,600 --> 00:24:30,600 Speaker 1: he kind of rambles and rants a little bit when 452 00:24:30,600 --> 00:24:33,640 Speaker 1: he talks. It is hinted that that this isn't cool. 453 00:24:34,000 --> 00:24:36,040 Speaker 1: It will be in his words. So there was a 454 00:24:36,040 --> 00:24:38,199 Speaker 1: few that came out and I think obviously in the 455 00:24:38,240 --> 00:24:41,480 Speaker 1: game as well, you saw the Leads United players have 456 00:24:41,680 --> 00:24:44,520 Speaker 1: this shirt on basically about the Champions League, and the 457 00:24:44,560 --> 00:24:47,000 Speaker 1: big headline from the shirt was earn it. You've got 458 00:24:47,000 --> 00:24:48,879 Speaker 1: to earn it. You've got to earn your right to 459 00:24:49,000 --> 00:24:51,359 Speaker 1: play in that competition and to match up with the 460 00:24:51,440 --> 00:24:55,440 Speaker 1: Europe's elite. So yeah, it listened, thankfully only lasted a 461 00:24:55,480 --> 00:24:57,960 Speaker 1: couple of days, but I think the more time would 462 00:24:58,000 --> 00:25:03,040 Speaker 1: have gone on, that even more universal disdain you would 463 00:25:03,040 --> 00:25:05,520 Speaker 1: have seen. I mean, I think you know, of course, 464 00:25:05,520 --> 00:25:07,080 Speaker 1: the fans are a big part to do with this. 465 00:25:07,200 --> 00:25:09,119 Speaker 1: Of course he did, but there's only a couple of 466 00:25:09,560 --> 00:25:11,600 Speaker 1: I mean, it wasn't just the fans, it was the 467 00:25:11,720 --> 00:25:16,760 Speaker 1: general reaction of everybody connected to the to the to 468 00:25:17,000 --> 00:25:22,080 Speaker 1: the emotional blooming juggernaut that football is in, particularly in England, 469 00:25:22,160 --> 00:25:26,520 Speaker 1: and between the football pundits on TV obviously a few 470 00:25:26,520 --> 00:25:29,520 Speaker 1: of the players, the managers, the fans obviously, but also 471 00:25:29,880 --> 00:25:33,480 Speaker 1: when you've got Boss Johnson, the Prime Minister, making statements 472 00:25:33,600 --> 00:25:36,359 Speaker 1: like we're going to throw at a legislative bomb on 473 00:25:36,400 --> 00:25:38,720 Speaker 1: this and we'll do whatever we can to stop this. 474 00:25:39,000 --> 00:25:41,760 Speaker 1: You've got Prince William, the Royal Family's coming out and 475 00:25:41,800 --> 00:25:45,640 Speaker 1: saying it. At that point, I am thinking there's no way, 476 00:25:45,760 --> 00:25:47,760 Speaker 1: there's no way that this is going to be allowed 477 00:25:47,760 --> 00:25:52,400 Speaker 1: to happen. Because of cultural importance of the pyramid and 478 00:25:52,480 --> 00:25:56,720 Speaker 1: of the you know, progression through through performance and success 479 00:25:56,800 --> 00:26:00,960 Speaker 1: and jeopardy and risk and consequence with failure. That's been 480 00:26:01,040 --> 00:26:05,800 Speaker 1: the main thing that thankfully has come through. I want 481 00:26:05,800 --> 00:26:08,120 Speaker 1: to hear the bit from if we can, the bit 482 00:26:08,119 --> 00:26:10,960 Speaker 1: from Yurgan Club, because because you're right it was. It 483 00:26:11,040 --> 00:26:13,520 Speaker 1: was powerful in a in a Jurgen Clopy in sort 484 00:26:13,520 --> 00:26:15,920 Speaker 1: of way. Let's check it out. It's always more games, 485 00:26:15,920 --> 00:26:17,560 Speaker 1: small games. And for the way, if it's for my 486 00:26:18,160 --> 00:26:20,359 Speaker 1: if you tell about the clubs, it's about money. The 487 00:26:20,440 --> 00:26:22,639 Speaker 1: fever wants a club World Cup whenever that should be 488 00:26:22,720 --> 00:26:25,119 Speaker 1: what should happen to it's about money, nothing else, and 489 00:26:25,160 --> 00:26:27,199 Speaker 1: all these kinds of things. So it happens, it's not 490 00:26:27,240 --> 00:26:29,960 Speaker 1: only these clubs, and things will change, and some things 491 00:26:30,000 --> 00:26:33,399 Speaker 1: have to change. And so that leads me to my 492 00:26:33,480 --> 00:26:36,119 Speaker 1: last question for you, Robby, which is things will change, 493 00:26:36,160 --> 00:26:39,400 Speaker 1: things have to change. What do you think happens next? 494 00:26:39,520 --> 00:26:41,760 Speaker 1: Is someone who knows the games so intimately from so 495 00:26:41,800 --> 00:26:48,119 Speaker 1: many different perspectives, This was trying to address something both 496 00:26:48,200 --> 00:26:52,200 Speaker 1: the the action of these owners, but also the reaction 497 00:26:52,760 --> 00:26:55,840 Speaker 1: of those so many who were against it. Do we 498 00:26:56,000 --> 00:26:59,240 Speaker 1: see a new Champions League sort of format? Do we 499 00:26:59,320 --> 00:27:03,560 Speaker 1: see something change? What do you think happens next? It's 500 00:27:03,640 --> 00:27:06,479 Speaker 1: really interesting. Yeah, it's really interesting, and we are seeing 501 00:27:06,640 --> 00:27:10,879 Speaker 1: a new Champions League format start in four like just 502 00:27:10,960 --> 00:27:13,320 Speaker 1: over the last couple of days. It kind of went well, 503 00:27:13,359 --> 00:27:15,200 Speaker 1: that's why this statement came out. It was kind of 504 00:27:15,280 --> 00:27:18,560 Speaker 1: challenging the new format. Now that the UFA in such 505 00:27:18,600 --> 00:27:21,919 Speaker 1: a difficult position, such a difficult position, more clubs one 506 00:27:22,000 --> 00:27:25,480 Speaker 1: a piece of this, this this competition, so they've actually 507 00:27:25,480 --> 00:27:28,880 Speaker 1: made the competition bigger, which I don't like. Yogen PLoP 508 00:27:28,920 --> 00:27:31,600 Speaker 1: and that's what he's talking about. Too many games, too 509 00:27:31,600 --> 00:27:34,119 Speaker 1: many games. Now there's now now you have made it 510 00:27:34,160 --> 00:27:37,680 Speaker 1: even bigger. This competition two players are playing so many 511 00:27:37,720 --> 00:27:41,439 Speaker 1: games in different competitions is difficult now in terms of 512 00:27:41,440 --> 00:27:47,120 Speaker 1: what should change. The Premier League is brilliant. It's not 513 00:27:47,560 --> 00:27:50,119 Speaker 1: you know, it's not like other leagues. You know, the 514 00:27:50,440 --> 00:27:54,760 Speaker 1: distribution of TV money is fairly evenly split, so you 515 00:27:54,880 --> 00:27:57,520 Speaker 1: get a fairly competitive league. We have the big clubs, 516 00:27:57,560 --> 00:27:59,639 Speaker 1: but we don't really know who's going to win each 517 00:27:59,720 --> 00:28:03,040 Speaker 1: year at um so, so there's not much wrong with 518 00:28:03,080 --> 00:28:05,000 Speaker 1: the Premier League. There's not that much wrong with the 519 00:28:05,119 --> 00:28:07,800 Speaker 1: Champions League. If anything, I think you have the clock 520 00:28:07,840 --> 00:28:10,800 Speaker 1: would love it if there's just fewer games, and maybe 521 00:28:11,240 --> 00:28:13,399 Speaker 1: the big clubs and I'm not saying the big big 522 00:28:13,480 --> 00:28:16,199 Speaker 1: clubs should dictate this, but they'd probably be happier if 523 00:28:16,280 --> 00:28:19,159 Speaker 1: there was fewer games and the wealth of that competition 524 00:28:19,280 --> 00:28:22,320 Speaker 1: was actually you know, more money from fewer games would 525 00:28:22,320 --> 00:28:24,640 Speaker 1: go to those clubs because that's what they want. It's 526 00:28:24,640 --> 00:28:27,080 Speaker 1: a balance, isn't it. It's a balance between who should 527 00:28:27,080 --> 00:28:29,440 Speaker 1: be in this competition. Well, let's face it, it's called 528 00:28:29,480 --> 00:28:32,880 Speaker 1: the Champions League and it's been Champions plus or angon 529 00:28:32,920 --> 00:28:35,880 Speaker 1: amnute actually second, third, fourth in your country and third 530 00:28:35,880 --> 00:28:39,080 Speaker 1: in your country, and so it's got diluted. It's even 531 00:28:39,120 --> 00:28:42,360 Speaker 1: more diluted to to appease others to get some piece 532 00:28:42,360 --> 00:28:46,240 Speaker 1: of this pie. But my opinion, reduce it. You know 533 00:28:46,280 --> 00:28:48,480 Speaker 1: what I do as well. I've reduced the Premier League 534 00:28:48,680 --> 00:28:51,920 Speaker 1: not popular with some fans, et cetera. There's twenty teams 535 00:28:52,000 --> 00:28:54,880 Speaker 1: right now, bring it down to a team sides, a 536 00:28:54,920 --> 00:28:59,080 Speaker 1: little bit less amount of games, more quality, less injuries, 537 00:28:59,240 --> 00:29:02,080 Speaker 1: and I'd reduce down now they've got the other way 538 00:29:02,280 --> 00:29:04,960 Speaker 1: sadly the Champions League as well. So I want to 539 00:29:05,000 --> 00:29:07,240 Speaker 1: see quality. I want to see all the best players 540 00:29:07,240 --> 00:29:08,720 Speaker 1: out there. I don't want to see the rest and 541 00:29:08,920 --> 00:29:11,600 Speaker 1: rotation that we see in all competitions because there's so 542 00:29:11,640 --> 00:29:15,240 Speaker 1: many games. So where it will go, I've just told 543 00:29:15,320 --> 00:29:16,960 Speaker 1: you where it's going. It's going to be more games 544 00:29:16,960 --> 00:29:20,360 Speaker 1: in European football. That just puts a bigger burden on 545 00:29:20,400 --> 00:29:22,240 Speaker 1: the English players. And the likes of the f A 546 00:29:22,320 --> 00:29:25,920 Speaker 1: Cup and the League Cup, historic wonderful competitions that I've 547 00:29:25,920 --> 00:29:28,480 Speaker 1: had the pleasure of playing in the final, the Cup 548 00:29:28,520 --> 00:29:31,800 Speaker 1: finals at Wembley on three occasions. You know they're becoming 549 00:29:31,880 --> 00:29:34,760 Speaker 1: less important because European football there's more and more of it, 550 00:29:34,880 --> 00:29:36,760 Speaker 1: so there's going to be more of it. But the 551 00:29:36,800 --> 00:29:40,000 Speaker 1: Premier League, you know, it's a brilliant product, and thankfully 552 00:29:40,200 --> 00:29:43,480 Speaker 1: it's still one club, one vote, So nothing too much 553 00:29:43,560 --> 00:29:46,040 Speaker 1: is going to change with that league because all the 554 00:29:45,880 --> 00:29:48,080 Speaker 1: other all the teams in that league will have an 555 00:29:48,120 --> 00:29:51,920 Speaker 1: equal say in the direction and how this league has run. 556 00:29:52,000 --> 00:29:53,840 Speaker 1: All Right, Rabby, I'm going to sneak in one more 557 00:29:53,920 --> 00:29:56,640 Speaker 1: just because I'm so fascinating you're insights here, and and 558 00:29:56,680 --> 00:30:00,600 Speaker 1: that is you know this notion of your foreign investors, 559 00:30:00,680 --> 00:30:04,440 Speaker 1: be they American, be they Russian oligarsby they Middle Eastern 560 00:30:04,520 --> 00:30:07,480 Speaker 1: sovereign well funds and whatnot. How has that changed the 561 00:30:07,520 --> 00:30:12,240 Speaker 1: game specifically in England from your perspective, Well, I think 562 00:30:12,280 --> 00:30:16,400 Speaker 1: it's helped UM's attract the best managers and the best 563 00:30:16,400 --> 00:30:19,560 Speaker 1: best players that these are. These are people for the 564 00:30:19,600 --> 00:30:22,160 Speaker 1: most part, that are putting in extra money. You know 565 00:30:22,280 --> 00:30:26,479 Speaker 1: that there's I'm not sure like for Chelsea's is certainly 566 00:30:26,480 --> 00:30:28,800 Speaker 1: the case, and for man City, Man City will not. 567 00:30:29,040 --> 00:30:32,600 Speaker 1: They're not old money. Old money is Man United, it's 568 00:30:32,680 --> 00:30:36,120 Speaker 1: Liverpool and it's arsenal Um. So new money has come in, 569 00:30:36,320 --> 00:30:40,560 Speaker 1: it's certainly improved the profile of those clubs and it's 570 00:30:40,600 --> 00:30:42,320 Speaker 1: made those now. I mean to be fair at Chelsea 571 00:30:42,400 --> 00:30:46,280 Speaker 1: now they run a pretty a pretty profitable club and 572 00:30:46,360 --> 00:30:49,680 Speaker 1: will run club and they've expanded their reach around the world, 573 00:30:49,720 --> 00:30:53,000 Speaker 1: particularly in America actually tremendously well. So the revenues are 574 00:30:53,000 --> 00:30:55,120 Speaker 1: coming in. But I think that's that's been the difference, 575 00:30:55,160 --> 00:30:58,000 Speaker 1: and people continue want to do it. The Saudi Arabia, 576 00:30:58,160 --> 00:31:02,280 Speaker 1: Saudi Arabia Print wanted to buy Newcassi United and he 577 00:31:02,320 --> 00:31:05,720 Speaker 1: actually failed the fair and proper test to being owner 578 00:31:05,760 --> 00:31:08,720 Speaker 1: in the Premier League. So this ly continues to attract 579 00:31:09,280 --> 00:31:11,959 Speaker 1: people that want to get involved and what are investing clubs. 580 00:31:11,960 --> 00:31:14,600 Speaker 1: And we know the Americans have come in and hasn't 581 00:31:14,640 --> 00:31:17,640 Speaker 1: always been you know, good stories of the American owners. 582 00:31:17,640 --> 00:31:19,040 Speaker 1: A lot of them lost a lot of money and 583 00:31:19,120 --> 00:31:21,520 Speaker 1: got out of it. Aston Villa one club as Sothern 584 00:31:21,640 --> 00:31:23,840 Speaker 1: Football Club another one where American owners have come in 585 00:31:23,880 --> 00:31:27,000 Speaker 1: and hasn't worked out well. So as long as it's 586 00:31:27,160 --> 00:31:30,440 Speaker 1: you know, it's it's broadcast everywhere, it's the most entertaining league, 587 00:31:30,480 --> 00:31:33,760 Speaker 1: it's the most watch league, and and and big money 588 00:31:33,800 --> 00:31:36,840 Speaker 1: people from whatever part of this planet do want to 589 00:31:36,840 --> 00:31:39,680 Speaker 1: get involved, which which ultimately is a is a good thing, 590 00:31:40,720 --> 00:31:42,360 Speaker 1: but there's got to be a little bit of checks 591 00:31:42,360 --> 00:31:44,400 Speaker 1: and balances. And I'm sure you guys have heard of 592 00:31:44,400 --> 00:31:47,880 Speaker 1: the financial fair play where clubs are really meant to 593 00:31:47,920 --> 00:31:50,680 Speaker 1: spend what they earn, which is very very questionable on 594 00:31:50,720 --> 00:31:53,280 Speaker 1: some of these clubs that you've just talked about, But 595 00:31:53,680 --> 00:31:56,080 Speaker 1: that's the attraction and that you know to be fair. 596 00:31:56,440 --> 00:31:59,280 Speaker 1: The old money of the three clubs we are talking 597 00:31:59,280 --> 00:32:01,840 Speaker 1: about Top six. I'm not saying they're all they're all 598 00:32:01,880 --> 00:32:04,640 Speaker 1: mega successful, but the money that's gone into those jobs 599 00:32:04,720 --> 00:32:06,640 Speaker 1: means that it's a fun need to watch now and 600 00:32:06,640 --> 00:32:10,640 Speaker 1: there's always a big six Tommas matchup each weekend that 601 00:32:10,760 --> 00:32:14,120 Speaker 1: funds up to watch. Well, it's been fascinating to watch. 602 00:32:14,160 --> 00:32:16,760 Speaker 1: And you talk about checks and balances. We saw checks 603 00:32:16,760 --> 00:32:20,040 Speaker 1: and balances in UH in rare Form UH this week. 604 00:32:20,080 --> 00:32:23,560 Speaker 1: So Robbie musto thank you so much. Love watching you 605 00:32:23,840 --> 00:32:27,240 Speaker 1: on the Telly as they say, your analysis and your 606 00:32:27,280 --> 00:32:30,920 Speaker 1: insights are are are welcome and UH and and really 607 00:32:31,280 --> 00:32:33,160 Speaker 1: really terrific. So thank you so much for the time. 608 00:32:33,320 --> 00:32:35,720 Speaker 1: Thank you very much. Absolutely my pleasure joining us now. 609 00:32:35,800 --> 00:32:38,680 Speaker 1: F C Helsinger, Chairman of the board and co owner 610 00:32:38,760 --> 00:32:42,400 Speaker 1: Jordan Gardner, he has interested in football all over the 611 00:32:42,400 --> 00:32:45,720 Speaker 1: world and certainly in Europe. Jordan's really nice to have 612 00:32:45,880 --> 00:32:49,040 Speaker 1: you with us. So let me just start by asking you. 613 00:32:49,040 --> 00:32:52,320 Speaker 1: You know, you followed this game so closely, you understand ownership, 614 00:32:52,400 --> 00:32:57,360 Speaker 1: you understand the business structure so well. Walk me through. 615 00:32:58,040 --> 00:33:00,560 Speaker 1: You know, this was something that was rumored for a while. 616 00:33:01,280 --> 00:33:05,520 Speaker 1: The news hits that that this is happening. What was 617 00:33:05,560 --> 00:33:08,200 Speaker 1: your initial reaction and your reaction as it sort of 618 00:33:08,280 --> 00:33:13,280 Speaker 1: evolved or devolved over two hours. I wasn't surprised. There's 619 00:33:13,280 --> 00:33:16,240 Speaker 1: definitely been rumors about this type of structure getting launched 620 00:33:16,720 --> 00:33:19,960 Speaker 1: almost every year. UM, so it's not something that kind 621 00:33:19,960 --> 00:33:22,560 Speaker 1: of came out of the blue. Um. What kind of 622 00:33:22,600 --> 00:33:25,080 Speaker 1: surprised me the most and kind of my my initial 623 00:33:25,120 --> 00:33:28,160 Speaker 1: reaction was how poor the rollout was, just from a 624 00:33:28,240 --> 00:33:31,120 Speaker 1: messaging and a pr standpoint. You know, I am a 625 00:33:31,120 --> 00:33:34,240 Speaker 1: firm believer that the owners could have pushed this system through, 626 00:33:34,360 --> 00:33:37,320 Speaker 1: this new structure through had they messaged it correctly, whether 627 00:33:37,360 --> 00:33:39,320 Speaker 1: you agree with it or not, So that that just 628 00:33:39,360 --> 00:33:41,080 Speaker 1: really surprised me. You know, you had some of the 629 00:33:41,080 --> 00:33:44,360 Speaker 1: biggest names and biggest owners in the world, um, the 630 00:33:44,400 --> 00:33:47,920 Speaker 1: world of sports launching this kind of revolutionary, new idea 631 00:33:48,040 --> 00:33:51,200 Speaker 1: new league, and it really was honestly some kind of 632 00:33:51,240 --> 00:33:55,440 Speaker 1: Mickey mouse, uh you know, pr strategy. So that was 633 00:33:55,760 --> 00:33:58,040 Speaker 1: that was really surprising to me. It didn't seem like 634 00:33:58,080 --> 00:34:01,160 Speaker 1: they kind of took into account any feedback from any 635 00:34:01,160 --> 00:34:03,680 Speaker 1: of the stakeholders in the industry, whether what that was 636 00:34:03,760 --> 00:34:06,480 Speaker 1: other clubs who are their business partners, whether that was 637 00:34:06,600 --> 00:34:08,719 Speaker 1: the league's, whether that was of course the supporters and 638 00:34:08,719 --> 00:34:11,600 Speaker 1: their fans. So it just seemed really kind of haphazard, 639 00:34:11,880 --> 00:34:14,239 Speaker 1: and that was what probably surprised me the most. Can 640 00:34:14,280 --> 00:34:17,879 Speaker 1: they repackage this? Obviously, like you just said, I mean, 641 00:34:17,920 --> 00:34:21,719 Speaker 1: this is the rollout was poor, But can they repackage this? 642 00:34:21,880 --> 00:34:25,680 Speaker 1: Can they sell it a totally different way? Can that 643 00:34:25,760 --> 00:34:27,920 Speaker 1: happen down the road? I think it's gonna be difficult. 644 00:34:28,040 --> 00:34:30,640 Speaker 1: I think they're, you know, these the largest clubs in Europe. 645 00:34:30,680 --> 00:34:33,280 Speaker 1: They've lost a lot of negotiating power. I think because 646 00:34:33,320 --> 00:34:36,480 Speaker 1: of this sailed attempt. I mean, ifomb FIFA UIFA from 647 00:34:36,560 --> 00:34:38,560 Speaker 1: some of the other clubs in the Premier League, for instance, 648 00:34:38,840 --> 00:34:40,760 Speaker 1: I'm saying, look what you know, if you guys threatened 649 00:34:40,760 --> 00:34:42,799 Speaker 1: to leave, go right ahead, right, look what happened last 650 00:34:42,800 --> 00:34:44,320 Speaker 1: time that didn't work out too well for you guys. 651 00:34:44,960 --> 00:34:47,840 Speaker 1: Um My sense, if I had to guess, is would 652 00:34:47,840 --> 00:34:51,000 Speaker 1: say they'll probably come together with the current stakeholders in 653 00:34:51,040 --> 00:34:54,520 Speaker 1: the current structure with UIFA and FIFA in the Champions 654 00:34:54,600 --> 00:34:58,560 Speaker 1: League europe League structure to continue pushing more revenue towards 655 00:34:58,640 --> 00:35:02,880 Speaker 1: themselves and more guarantee spots in those competitions. So honestly, 656 00:35:02,880 --> 00:35:05,239 Speaker 1: I think that's that's probably what the direction everything was 657 00:35:05,280 --> 00:35:10,120 Speaker 1: going already. I don't foresee a viable quote breakaway league 658 00:35:10,120 --> 00:35:13,000 Speaker 1: happening after this failed attempt. Hey, Jordan, it's Mike Lynch 659 00:35:13,040 --> 00:35:16,680 Speaker 1: up in Boston. I've been quite close to John Henry's 660 00:35:16,719 --> 00:35:20,319 Speaker 1: family sports group for for some time now. Obviously he's 661 00:35:20,360 --> 00:35:23,920 Speaker 1: the owner of Liverpool UM. One Boston writer called this 662 00:35:24,239 --> 00:35:28,040 Speaker 1: John Henry's Bay of Pigs moment and wondered if he 663 00:35:28,040 --> 00:35:30,200 Speaker 1: could ever step on the pitch at anfield again and 664 00:35:30,280 --> 00:35:34,640 Speaker 1: feel safe. Ken he it's a really good question. I mean, 665 00:35:34,680 --> 00:35:36,600 Speaker 1: I think it's an open question if any of these 666 00:35:36,600 --> 00:35:39,320 Speaker 1: owners can show their faces at these stadiums ever again. 667 00:35:39,480 --> 00:35:43,600 Speaker 1: I mean, you will this pass in terms of uh, 668 00:35:43,760 --> 00:35:45,680 Speaker 1: you know, being in the mind of fans and supporters 669 00:35:45,680 --> 00:35:48,480 Speaker 1: at these clubs. Will eventually the time come where they say, Okay, 670 00:35:48,640 --> 00:35:50,399 Speaker 1: yeah this happened, we weren't happy about it, but we're 671 00:35:50,400 --> 00:35:52,799 Speaker 1: gonna move forward. I certainly think in the short term 672 00:35:53,120 --> 00:35:56,040 Speaker 1: guys like John Henry are gonna have a really tough time, uh, 673 00:35:56,600 --> 00:36:01,160 Speaker 1: getting any support whatsoever within that community. Liver Um, I 674 00:36:01,200 --> 00:36:04,320 Speaker 1: think it was just a massive miscalculation for someone in 675 00:36:04,360 --> 00:36:07,960 Speaker 1: an ownership group in Liverpool who generally were thought very favorably. 676 00:36:08,000 --> 00:36:10,280 Speaker 1: I think, you know, relative to other groups in Europe 677 00:36:10,760 --> 00:36:13,640 Speaker 1: about the way they ran that club. So I think, um, 678 00:36:13,680 --> 00:36:15,640 Speaker 1: I think they're in a tough spot. Maybe over the 679 00:36:15,680 --> 00:36:18,439 Speaker 1: long run things will improve, but I think right now 680 00:36:19,120 --> 00:36:23,040 Speaker 1: my senses, he is not the most liked, well like 681 00:36:23,120 --> 00:36:25,360 Speaker 1: figure in Liverpool right now for sure. I mean, and 682 00:36:25,719 --> 00:36:29,000 Speaker 1: to your point Jordan's, I mean John Henry. It feels like, 683 00:36:29,160 --> 00:36:31,839 Speaker 1: based on what he said publicly this week and he 684 00:36:31,880 --> 00:36:35,280 Speaker 1: was pretty much alone and sort of putting himself out 685 00:36:35,320 --> 00:36:39,239 Speaker 1: there in the public. In this video he realizes he 686 00:36:39,280 --> 00:36:41,480 Speaker 1: did something wrong. Let's listen to that clip. I want 687 00:36:41,520 --> 00:36:45,440 Speaker 1: to apologize to all the fans supporters of Liverpool Football 688 00:36:45,520 --> 00:36:48,240 Speaker 1: Club for the disruption I caused over the past forty 689 00:36:48,280 --> 00:36:52,120 Speaker 1: eight hours. Goes without saying, but should be said that 690 00:36:52,200 --> 00:36:55,000 Speaker 1: the project put forward was never going to stand without 691 00:36:55,040 --> 00:36:58,000 Speaker 1: the support of the fans. No one ever thought differently 692 00:36:58,040 --> 00:37:01,319 Speaker 1: in England over these forty hours. You're very clear that 693 00:37:01,400 --> 00:37:06,280 Speaker 1: it would not stand. We heard you, I heard you. 694 00:37:06,280 --> 00:37:08,680 Speaker 1: You know, Jordans. What are the thing that things that 695 00:37:09,080 --> 00:37:10,719 Speaker 1: struck me the first time I had listened that? And 696 00:37:10,840 --> 00:37:13,160 Speaker 1: it strikes me every time. I mean I hear it 697 00:37:13,640 --> 00:37:16,520 Speaker 1: and I wonder about it. From your perspective as an owner, 698 00:37:17,200 --> 00:37:21,360 Speaker 1: is the use of the singular pronoun there, you know, 699 00:37:21,440 --> 00:37:24,520 Speaker 1: the sort of I am taking responsibility for this, I 700 00:37:24,600 --> 00:37:27,880 Speaker 1: made a mistake. How important is that in terms of 701 00:37:27,920 --> 00:37:30,759 Speaker 1: messaging and and what does it say to you and 702 00:37:31,480 --> 00:37:35,919 Speaker 1: in terms of what you've learned as an owner? Yeah, 703 00:37:35,960 --> 00:37:37,799 Speaker 1: I mean I think it's really important because I think, 704 00:37:38,120 --> 00:37:40,160 Speaker 1: you know, supporters and people in and around these clubs 705 00:37:40,239 --> 00:37:42,359 Speaker 1: understand that the buck stops with the owner and he's 706 00:37:42,360 --> 00:37:44,120 Speaker 1: the one that he or she or a group of 707 00:37:44,719 --> 00:37:46,800 Speaker 1: people are the ones that make the decisions at the 708 00:37:46,880 --> 00:37:48,400 Speaker 1: end of the day. So you know, you've got to 709 00:37:48,400 --> 00:37:50,640 Speaker 1: give John a lot of credit for coming out there, 710 00:37:50,640 --> 00:37:54,560 Speaker 1: and you know, on an individual level taking responsibility. You know, obviously, 711 00:37:54,560 --> 00:37:56,080 Speaker 1: I think if I was a supporter of Liverpool, I 712 00:37:56,120 --> 00:37:58,680 Speaker 1: would have said, hey, why wasn't he coming out there 713 00:37:58,800 --> 00:38:01,560 Speaker 1: before with some statement it's about, you know, explaining this 714 00:38:01,640 --> 00:38:04,520 Speaker 1: decision before it happened, right, Why why be so reactive? 715 00:38:04,960 --> 00:38:08,200 Speaker 1: But in the sense that he took pure responsibility for 716 00:38:08,280 --> 00:38:10,279 Speaker 1: it and on on a personal level, I think that's 717 00:38:10,280 --> 00:38:13,200 Speaker 1: actually really important. I think if you looked at the 718 00:38:13,239 --> 00:38:16,120 Speaker 1: commentary out there, I thought think was generally positive about, 719 00:38:16,160 --> 00:38:18,799 Speaker 1: you know, his explanation for what happened. Whether you agree 720 00:38:18,840 --> 00:38:20,160 Speaker 1: with the whole decision or not, I think it was 721 00:38:20,200 --> 00:38:23,759 Speaker 1: a smart decision on his part. In general, how hard 722 00:38:23,840 --> 00:38:27,880 Speaker 1: has it been as an owner of a club to 723 00:38:28,000 --> 00:38:32,840 Speaker 1: make money in these COVID times? Teams have just been 724 00:38:32,880 --> 00:38:35,319 Speaker 1: thrown against the rocks, a lot of them. I mean 725 00:38:35,880 --> 00:38:38,480 Speaker 1: during COVID it's practically impossible. I think there's like a 726 00:38:38,520 --> 00:38:40,640 Speaker 1: handful of clubs in Europe that are making somebody due 727 00:38:40,640 --> 00:38:43,040 Speaker 1: to the huge player sales right now. But with COVID, 728 00:38:43,080 --> 00:38:46,000 Speaker 1: with the losses, uh, you know, all and everything that 729 00:38:46,040 --> 00:38:48,360 Speaker 1: goes into that, with a lack of bands at games, Uh, 730 00:38:48,400 --> 00:38:51,720 Speaker 1: it's impossible really so uh, you know, even even taking 731 00:38:51,760 --> 00:38:54,240 Speaker 1: COVID to the side, it's a it's a really difficult business, 732 00:38:54,280 --> 00:38:55,640 Speaker 1: There's no doubt about it. I think a lot of 733 00:38:55,640 --> 00:38:58,080 Speaker 1: people underestimate how you can own a club and you 734 00:38:58,120 --> 00:39:01,160 Speaker 1: can print money, and like, it's very, very difficult. You 735 00:39:01,200 --> 00:39:03,439 Speaker 1: have to do a lot of things right to find 736 00:39:03,480 --> 00:39:06,239 Speaker 1: a financial model that makes sense. And you see, I 737 00:39:06,239 --> 00:39:07,920 Speaker 1: think one of the interesting things that came out of 738 00:39:07,920 --> 00:39:11,759 Speaker 1: this whole Super League discussion is that these owners of 739 00:39:11,800 --> 00:39:14,920 Speaker 1: these biggest clubs don't run particularly good businesses. Especially some 740 00:39:14,960 --> 00:39:17,320 Speaker 1: of these clubs, like the ones in Spain, they accumulate 741 00:39:17,360 --> 00:39:20,600 Speaker 1: massive amounts of debt. Operationally, they lose a lot of money. 742 00:39:20,640 --> 00:39:23,360 Speaker 1: They don't necessarily have the sharpest, smartest and most progressive 743 00:39:23,360 --> 00:39:26,160 Speaker 1: people making decisions at the top. And I think, if 744 00:39:26,160 --> 00:39:28,040 Speaker 1: you want to look at a silver lining from my perspective, 745 00:39:28,080 --> 00:39:29,640 Speaker 1: it's a lot of those kind of ideas and those 746 00:39:29,640 --> 00:39:32,840 Speaker 1: people I think got exposed by this whole process, and 747 00:39:32,920 --> 00:39:35,400 Speaker 1: hopefully I would like to think that that means the 748 00:39:35,440 --> 00:39:37,640 Speaker 1: industry might start to change a little bit. Jordan, is 749 00:39:37,640 --> 00:39:40,160 Speaker 1: it is it accurate to state that this reversal in 750 00:39:40,200 --> 00:39:44,320 Speaker 1: forty eight hours is tradition triumph over agreed? Yeah, I 751 00:39:44,360 --> 00:39:47,040 Speaker 1: would think so. Yeah. I mean the fact that it 752 00:39:47,080 --> 00:39:50,520 Speaker 1: happened so quickly and so that the backlash was so aggressive. 753 00:39:51,120 --> 00:39:53,000 Speaker 1: I think there were a lot of factors in terms 754 00:39:53,000 --> 00:39:55,799 Speaker 1: of why it happened so quickly and and the motivation. 755 00:39:56,000 --> 00:39:58,200 Speaker 1: But again, I think the problem you had in the 756 00:39:58,200 --> 00:40:00,360 Speaker 1: New York Times actually just reported this morning. It's like 757 00:40:00,640 --> 00:40:03,960 Speaker 1: you just had an absence of leadership or voice from 758 00:40:04,000 --> 00:40:06,080 Speaker 1: this owner's group and this group that was breaking away 759 00:40:06,280 --> 00:40:10,160 Speaker 1: explaining their decision. I think if they've come out and said, hey, look, 760 00:40:10,200 --> 00:40:12,080 Speaker 1: you might not like the decision we're gonna make to 761 00:40:12,080 --> 00:40:13,839 Speaker 1: break away, but this is this is a ten different 762 00:40:13,840 --> 00:40:15,919 Speaker 1: reasons why we're doing it, and we're gonna we're gonna 763 00:40:15,960 --> 00:40:18,120 Speaker 1: come out there and explain ourselves. You know. I think 764 00:40:18,120 --> 00:40:19,600 Speaker 1: there still would have been a lot of pushback, but 765 00:40:19,640 --> 00:40:20,719 Speaker 1: I think it would have been a little bit of 766 00:40:20,719 --> 00:40:25,160 Speaker 1: a different narrator than what happened. So Jordan's you know, 767 00:40:25,239 --> 00:40:28,080 Speaker 1: these sorts of moments are are inflection points that it 768 00:40:28,160 --> 00:40:31,120 Speaker 1: feels like in in sporting events. And obviously this is 769 00:40:31,239 --> 00:40:33,680 Speaker 1: the you know this better than than we do. It's 770 00:40:33,719 --> 00:40:37,120 Speaker 1: the most popular game in the world, even as tough 771 00:40:37,160 --> 00:40:39,960 Speaker 1: of business as it is, as you alluded to it, 772 00:40:40,160 --> 00:40:43,760 Speaker 1: at all levels, um it is a growing one in 773 00:40:43,520 --> 00:40:48,240 Speaker 1: in many ways. So how does this change the trajectory 774 00:40:48,600 --> 00:40:53,279 Speaker 1: of the game as a business in your estimation, I 775 00:40:53,320 --> 00:40:55,520 Speaker 1: think what's interesting is I think it's going to empower 776 00:40:55,600 --> 00:40:58,279 Speaker 1: the fans and supporters to understand that their voice is 777 00:40:58,320 --> 00:41:01,160 Speaker 1: probably a lot more powerful than people think. I think 778 00:41:01,200 --> 00:41:03,560 Speaker 1: you have a lot of ownership groups and investors who 779 00:41:03,560 --> 00:41:06,759 Speaker 1: really just kind of ignore that, not to say that, uh, 780 00:41:06,800 --> 00:41:08,560 Speaker 1: you know, when you're owning a football club or any 781 00:41:08,600 --> 00:41:10,719 Speaker 1: sports organization, you should sit there and listen to the 782 00:41:10,719 --> 00:41:12,520 Speaker 1: fans once they say and make decisions off of that. 783 00:41:12,800 --> 00:41:15,080 Speaker 1: I'm personally in the hottest supporter of stand ownership and 784 00:41:15,080 --> 00:41:17,359 Speaker 1: that kind of thing. At the end of the day, 785 00:41:17,400 --> 00:41:20,640 Speaker 1: these are your customers. These are people, especially in European football, 786 00:41:20,640 --> 00:41:24,040 Speaker 1: to have an incredible emotional attachment to your product, and 787 00:41:24,360 --> 00:41:26,440 Speaker 1: if they don't like something you're here doing, they're going 788 00:41:26,480 --> 00:41:28,520 Speaker 1: to protest your stadium. They're gonna make it difficult for 789 00:41:28,520 --> 00:41:30,480 Speaker 1: you to do business and make money. So I think 790 00:41:30,480 --> 00:41:33,360 Speaker 1: that that's something that's really changed to a certain extent, 791 00:41:33,600 --> 00:41:36,080 Speaker 1: and I think we'll see moving forward what effect that 792 00:41:36,080 --> 00:41:38,719 Speaker 1: has on the way these clubs run their businesses. If 793 00:41:38,760 --> 00:41:42,840 Speaker 1: there is any positive out of this story here in 794 00:41:42,960 --> 00:41:47,480 Speaker 1: the United States, this story people. At first, I didn't 795 00:41:47,520 --> 00:41:53,040 Speaker 1: realize how important this story was. Will this help bring 796 00:41:53,200 --> 00:41:58,680 Speaker 1: interest to soccer in the US. It's a good question. 797 00:41:58,880 --> 00:42:01,560 Speaker 1: I mean, I think this story, you know, I had, 798 00:42:01,600 --> 00:42:03,800 Speaker 1: people I had, my parents were what we were following this. 799 00:42:03,880 --> 00:42:05,800 Speaker 1: People who don't even follow the sport we're sending me 800 00:42:05,880 --> 00:42:08,840 Speaker 1: text messages about this. So I do think it opened 801 00:42:08,840 --> 00:42:12,080 Speaker 1: people's eyes to not just an interest in European football, 802 00:42:12,080 --> 00:42:15,080 Speaker 1: but like the differences between North American sports and Europeans, 803 00:42:15,400 --> 00:42:18,880 Speaker 1: you know, European soccer and uh like kind of the 804 00:42:19,040 --> 00:42:21,600 Speaker 1: romanticism of European soccer. How you know, it's it's all 805 00:42:21,760 --> 00:42:25,040 Speaker 1: entirely merit based and promotion, relegation, all these really interesting 806 00:42:25,080 --> 00:42:26,920 Speaker 1: things that we don't have in North America. So I 807 00:42:26,920 --> 00:42:29,719 Speaker 1: do think there's the possibility that new fans will be 808 00:42:29,719 --> 00:42:32,000 Speaker 1: attracted to the sport that wouldn't otherwise be the case. 809 00:42:32,440 --> 00:42:35,440 Speaker 1: I think it all depends on how the sport, you know, 810 00:42:35,560 --> 00:42:38,680 Speaker 1: reacts to this, how it looks like moving forward. I mean, 811 00:42:38,680 --> 00:42:41,280 Speaker 1: the sport is still incredibly popular in the United States, 812 00:42:41,320 --> 00:42:44,680 Speaker 1: but can there be continued traction because of that? I 813 00:42:44,680 --> 00:42:47,840 Speaker 1: don't know. Ye we'll see how this health plays out. Jordan, 814 00:42:47,880 --> 00:42:50,160 Speaker 1: How do these owners regain the trust of their fans 815 00:42:50,360 --> 00:42:53,879 Speaker 1: and how do they do it in a hurry? Well, 816 00:42:53,920 --> 00:42:55,600 Speaker 1: I mean, I think the first step was coming out 817 00:42:55,680 --> 00:42:59,040 Speaker 1: publicly with a name to the face and apologize and 818 00:42:59,080 --> 00:43:01,239 Speaker 1: explain themselves. I think some clubs have done that well, 819 00:43:01,239 --> 00:43:03,440 Speaker 1: others haven't. I mean, you've seen kind of half apologies 820 00:43:03,480 --> 00:43:05,800 Speaker 1: from some clubs or no apologies at all from some clubs. 821 00:43:06,400 --> 00:43:09,160 Speaker 1: You know, I'm a big proponent in sports, but in 822 00:43:09,200 --> 00:43:11,920 Speaker 1: European soccer in particular, that you can't be an absentee 823 00:43:11,920 --> 00:43:14,120 Speaker 1: owner and expect that success. You need to be present, 824 00:43:14,560 --> 00:43:16,680 Speaker 1: and so I think, you know, my sense is if 825 00:43:16,719 --> 00:43:18,400 Speaker 1: these owners want to regain the trust is they're going 826 00:43:18,440 --> 00:43:21,040 Speaker 1: to have to find a way to be present at 827 00:43:21,040 --> 00:43:23,400 Speaker 1: their clubs and or have people in their ownership groups 828 00:43:23,440 --> 00:43:27,360 Speaker 1: present at their clubs to explain both to continue to 829 00:43:27,400 --> 00:43:29,680 Speaker 1: explain both why they made the decisions, why it was 830 00:43:29,719 --> 00:43:32,960 Speaker 1: a mistake, and where their particular club goes moving forward. 831 00:43:33,320 --> 00:43:36,040 Speaker 1: You know, you're not gonna you're not hiding behind I 832 00:43:36,040 --> 00:43:38,480 Speaker 1: think pr statements or hiding kind of in the corner 833 00:43:39,000 --> 00:43:41,200 Speaker 1: is not going to regain the trust of people. Over 834 00:43:41,239 --> 00:43:43,600 Speaker 1: in Europe. So you know, honestly, I also just think 835 00:43:43,640 --> 00:43:45,839 Speaker 1: it's going to take time as well. This is so raw, 836 00:43:45,960 --> 00:43:47,640 Speaker 1: and I think the emotion is so raw with so 837 00:43:47,680 --> 00:43:51,640 Speaker 1: many supporters. I think one thing is Americans we sometimes 838 00:43:51,680 --> 00:43:56,560 Speaker 1: overlook is just this raw, passionate emotional attachment these people 839 00:43:56,680 --> 00:43:59,239 Speaker 1: have to their clubs in European football. It's just, you know, 840 00:43:59,280 --> 00:44:00,920 Speaker 1: as much as I grew up as a New York 841 00:44:00,960 --> 00:44:03,160 Speaker 1: Jets stand, I love the New York Jets sadly, but 842 00:44:04,480 --> 00:44:07,719 Speaker 1: you know, I have an attachment to that American football club. 843 00:44:07,920 --> 00:44:09,879 Speaker 1: But it's just it's so different than howd I grow 844 00:44:09,960 --> 00:44:11,640 Speaker 1: up in Liverpool and been a Liverpool support of my 845 00:44:11,640 --> 00:44:13,879 Speaker 1: whole life. It's really hard to explain that for people 846 00:44:13,920 --> 00:44:16,440 Speaker 1: who haven't been over in Europe. It's it's a lifestyle, 847 00:44:16,680 --> 00:44:19,000 Speaker 1: It's part of who you are as a person, and 848 00:44:19,040 --> 00:44:21,520 Speaker 1: I think that's it's difficult to kind of come back 849 00:44:21,520 --> 00:44:23,239 Speaker 1: from the edge with what some of these owners did 850 00:44:23,480 --> 00:44:25,239 Speaker 1: to regain that trust. It's just gonna take a lot 851 00:44:25,280 --> 00:44:28,160 Speaker 1: of time. So Jordan, before we let you go, just 852 00:44:28,200 --> 00:44:31,760 Speaker 1: sort of looking ahead in the short term, setting aside 853 00:44:31,960 --> 00:44:35,720 Speaker 1: Super League a recovery. We we think across the globe 854 00:44:36,520 --> 00:44:39,640 Speaker 1: in terms of this pandemic, you know, life getting back 855 00:44:39,680 --> 00:44:42,440 Speaker 1: to some semblance of normal. What does that look like 856 00:44:42,600 --> 00:44:45,719 Speaker 1: for you and your portfolio of teams and what is 857 00:44:47,360 --> 00:44:51,520 Speaker 1: hold in that regard? Yeah, I mean, I still think 858 00:44:51,560 --> 00:44:54,480 Speaker 1: there's immense opportunities in European soccer, and I've written about 859 00:44:54,520 --> 00:44:57,839 Speaker 1: it and from various platforms. I think so we've seen 860 00:44:57,840 --> 00:45:00,040 Speaker 1: by the European Super League discussions at these busines this 861 00:45:00,200 --> 00:45:03,280 Speaker 1: is are so poorly run, there's so much opportunity. Um. 862 00:45:03,320 --> 00:45:05,560 Speaker 1: You know, I think myself and some of my business partners, 863 00:45:05,600 --> 00:45:08,520 Speaker 1: we look at this landscape in Europe and you know, obviously, 864 00:45:08,800 --> 00:45:11,440 Speaker 1: you know, certain assets are probably unattainable, you know, in 865 00:45:11,480 --> 00:45:15,239 Speaker 1: terms of buying Manchester United, but there's really interesting opportunities 866 00:45:15,520 --> 00:45:17,959 Speaker 1: across European football that we continue to look at, whether 867 00:45:17,960 --> 00:45:22,319 Speaker 1: it's multi club portfolio is, whether that's just finding distress assets. UM. 868 00:45:22,360 --> 00:45:24,480 Speaker 1: As we start to get out of COVID and Europe 869 00:45:24,760 --> 00:45:26,640 Speaker 1: sadly is lagging a little bit in terms of their 870 00:45:26,680 --> 00:45:30,160 Speaker 1: recovery and vaccination efforts. But as that progresses, I think 871 00:45:30,200 --> 00:45:32,440 Speaker 1: we're going to see you know, M and A transactions 872 00:45:32,480 --> 00:45:34,120 Speaker 1: pick up. I think people are going to start to 873 00:45:34,120 --> 00:45:36,240 Speaker 1: look at that landscape, continue to look at that landscape 874 00:45:36,239 --> 00:45:39,080 Speaker 1: and say, this is an interesting opportunity from an investment standpoint, 875 00:45:39,120 --> 00:45:41,480 Speaker 1: and that's kind of bus based on it. Alright. Well, 876 00:45:41,560 --> 00:45:43,479 Speaker 1: Jordan Gardner, thank you so much. Really good to catch 877 00:45:43,560 --> 00:45:46,640 Speaker 1: up with you. Um your voice. I listened to and 878 00:45:46,680 --> 00:45:49,319 Speaker 1: read about a lot, so it was nice to nice 879 00:45:49,360 --> 00:45:51,920 Speaker 1: to catch up with you at least virtually and get 880 00:45:51,920 --> 00:45:54,840 Speaker 1: your thoughts on this very very important week. FC Helsing 881 00:45:54,840 --> 00:45:57,440 Speaker 1: your chairman of the board and co owner. Jordan Gardner, 882 00:45:57,520 --> 00:46:00,560 Speaker 1: thanks a lot. Cool thanks guys, appreciate it. So three 883 00:46:00,600 --> 00:46:03,600 Speaker 1: really cool voices I have to say on on this topic. 884 00:46:03,640 --> 00:46:06,600 Speaker 1: I mean, what a week watching this all you know, 885 00:46:06,920 --> 00:46:09,840 Speaker 1: explode and then implode. I guess is the is the 886 00:46:09,880 --> 00:46:12,839 Speaker 1: way to put it? You know, great perspectives. I do 887 00:46:13,000 --> 00:46:17,080 Speaker 1: feel like, you know, if I'm sitting in the ownership 888 00:46:17,480 --> 00:46:21,960 Speaker 1: boxes or offices or you know, gets home offices. Still 889 00:46:22,280 --> 00:46:25,279 Speaker 1: for most of us of these big teams, you know, 890 00:46:25,880 --> 00:46:28,680 Speaker 1: I'm eating Crow for breakfast, lunch, and dinner. And and 891 00:46:28,760 --> 00:46:31,960 Speaker 1: John Henry is no exception there. I mean he has 892 00:46:32,000 --> 00:46:34,680 Speaker 1: publicly apologized Lynchy, but this is going to be a 893 00:46:34,719 --> 00:46:37,880 Speaker 1: hard one to to shrug off anytime soon. Yeah, and 894 00:46:37,960 --> 00:46:40,040 Speaker 1: I loved what Jordan Gardner had to say about that. 895 00:46:40,120 --> 00:46:43,160 Speaker 1: He thought the rollout was really poor, that some of 896 00:46:43,200 --> 00:46:45,000 Speaker 1: the owners, and I know he was talking to guys 897 00:46:45,080 --> 00:46:48,520 Speaker 1: like like Joel Glazer and John Henry, that these owners 898 00:46:48,520 --> 00:46:50,959 Speaker 1: have a lot of experience with clubs. They could have 899 00:46:51,000 --> 00:46:53,320 Speaker 1: really pushed this thing through if they presented it better. 900 00:46:53,600 --> 00:46:56,239 Speaker 1: And he called it a Mickey mouse pr strategy, which 901 00:46:56,239 --> 00:47:00,799 Speaker 1: I thought was kind of harsh but candid and probably accurate. Yeah. So, Bar, 902 00:47:00,920 --> 00:47:02,279 Speaker 1: what what do you make of all this? You know, 903 00:47:02,360 --> 00:47:05,879 Speaker 1: having heard these these perspectives, you know, does it change 904 00:47:05,880 --> 00:47:08,600 Speaker 1: your view of of football? Does it change your view 905 00:47:08,760 --> 00:47:13,239 Speaker 1: of the business sidement? Yes? And and and I think 906 00:47:13,280 --> 00:47:17,120 Speaker 1: it was best said that a lot of business owners 907 00:47:17,200 --> 00:47:21,239 Speaker 1: got exposed in this and they didn't think this through. 908 00:47:21,320 --> 00:47:25,600 Speaker 1: Now again, yes, on a business standpoint of making money, yeah, 909 00:47:25,760 --> 00:47:28,480 Speaker 1: it made sense, but there were a lot of factors 910 00:47:28,480 --> 00:47:31,640 Speaker 1: they didn't think about, especially the fan reaction. Nobody thought 911 00:47:31,640 --> 00:47:35,120 Speaker 1: about that and then boom and then it exploded. Yeah, 912 00:47:35,160 --> 00:47:37,440 Speaker 1: they heard it loud and clear, and uh, you know, 913 00:47:37,560 --> 00:47:39,800 Speaker 1: a one eighty like I don't know if we've ever 914 00:47:39,840 --> 00:47:43,320 Speaker 1: seen or certainly seen you've been listening to Bloomberg Business 915 00:47:43,360 --> 00:47:45,279 Speaker 1: of Sports were here each and every week, same time, 916 00:47:45,320 --> 00:47:48,960 Speaker 1: plus online wherever you get your podcast. Those drop every Monday, 917 00:47:49,040 --> 00:47:51,960 Speaker 1: Wednesday and Thursday. I'm Jason Kelly. You can find me 918 00:47:52,000 --> 00:47:54,560 Speaker 1: on Twitter at Jason Kelly Miss and I'm Mike Lex. 919 00:47:54,719 --> 00:47:57,200 Speaker 1: You can find me at Lynch e w CDB. And 920 00:47:57,200 --> 00:47:59,359 Speaker 1: I'm Michael Bar on Twitter at Big Bar Sports. You're 921 00:47:59,360 --> 00:48:02,160 Speaker 1: listening to you Bloomberg Business of Sports from Bloomberg Radio 922 00:48:02,360 --> 00:48:21,040 Speaker 1: around the world. Oh