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Speaker 1: This is Bloomberg Business of Sports where in a situation

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Speaker 1: that we haven't dealt with in modern times, the pandemic

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Speaker 1: here has really accelerated the investments that we've been havocating

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Speaker 1: for for a year. From a macro standpoint, I think

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Speaker 1: our sport industry is really forced to look at the

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Speaker 1: business a little bit differently. In depth conversations with the

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Speaker 1: leaders in the sports industry and sport, there's a good aberration.

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Speaker 1: We're still moving forward part of something much bigger than sports.

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Speaker 1: Right now, the health and sadustry of our stakeholders a

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Speaker 1: real smart important every moment. I think we're all from

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Speaker 1: a business respective thinking about the impact that the virus

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Speaker 1: is having across the country. In Bloomberg Business of Sports

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Speaker 1: from Bloomberg Radio, Hell everyone, I'm Jason Kelly, you know

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Speaker 1: Mike Lynch and Michael Barr And this is the Bloomberg

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Speaker 1: Business of Sports podcast where we explore the big money

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Speaker 1: issues in the world of sports. And today we're so

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Speaker 1: excited to be joined again by Angelo Riggiero. She is

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Speaker 1: the co founder c of the Sports Innovation Lab, former

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Speaker 1: ice hockey standout gold medalist for Time Olympian with Team USA,

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Speaker 1: Harvard Business School, Hockey Hall of Famer. Uh, so much

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Speaker 1: to talk about, Angela. Really nice to have you back

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Speaker 1: with us. Hope all as well with you up in

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Speaker 1: the Boston area. Yeah, thanks for having me on Chritchi

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Speaker 1: Chritchy back. Well. So much has happened in the world

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Speaker 1: of sports, and we were talking right before we came

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Speaker 1: on to start recording that. You know, one of the

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Speaker 1: reports that that you and your group have put out

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Speaker 1: that I was just fascinated by, and I think I

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Speaker 1: speak for everybody with this is the top twenty five

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Speaker 1: most innovative sports teams and sports franchises. Let's start there,

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Speaker 1: because I was blown away by a number of different

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Speaker 1: elements how much the pandemic has obviously changed, but also

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Speaker 1: how much these teams are really doing. And there are,

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Speaker 1: at least to me, some surprising elements of this. I

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Speaker 1: wonder what surprised you as you sort of put it

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Speaker 1: all together, you and the team. Yeah, well thanks for

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Speaker 1: calling that out. We um so. As the CEO and

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Speaker 1: co founder of Sports Innovation Lab. From day one, we've

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Speaker 1: been thinking about how do we use data to really

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Speaker 1: understand the industry, how do we help healthy industry evolve?

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Speaker 1: And as you mentioned the pandemic has really accelerated change,

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Speaker 1: accelerated the need to do things differently, moving the industry

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Speaker 1: at large from I would say more analog selling tickets

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Speaker 1: and kind of the same business model to a digital transformation.

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Speaker 1: Everyone's recognizing the industry has to do more to service

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Speaker 1: their fan, which is what we focus on at Sports

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Speaker 1: Innovation Lab as the fluid fan as we call it. UM.

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Speaker 1: So we've been looking at it through the lens of

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Speaker 1: you know, the report UH for for many years. How

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Speaker 1: do you drive more revenue? How do you invest in

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Speaker 1: the right technologies, and how are you actually structured in

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Speaker 1: the right way? And UM, you know, I don't think

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Speaker 1: there are many surprises, UM, only because we've been thinking

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Speaker 1: about this for four years. But big takeaway UM, I

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Speaker 1: think was just how over reliant we've been UM on

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Speaker 1: the traditional revenue streams, the revenue diversification pillar, the the

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Speaker 1: specifically UM ticket sales, merch UM broadcasts rights, UM, you know,

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Speaker 1: the sponsorship if if you remove those, which we did

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Speaker 1: from the report, and you know, you've looked at all

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Speaker 1: the other ways that you can drive revenue, really trying

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Speaker 1: to then think about enterprise value. UM. You know, the

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Speaker 1: takeaway for us is a lot of teams been scoring

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Speaker 1: here that that have fantastic game day experiences. Fantasy are

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Speaker 1: known to be quote innovative, UM. But when you strip

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Speaker 1: all of the what they're you know, the core elements

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Speaker 1: of sports away, which is what happened during the pandemic,

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Speaker 1: the usual way you make money and then rely on

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Speaker 1: other ways to touch fans, service, fans, support fans. UM.

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Speaker 1: You know a lot of international football clubs in March,

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Speaker 1: which you know, I would have thought the Cowboys and

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Speaker 1: the Lakers and some of these you know, sexier teams

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Speaker 1: would have scored higher. But again we were talking about

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Speaker 1: enterprise value and diversification of what you're doing, and it

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Speaker 1: and and it doesn't I guess it doesn't come to

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Speaker 1: a surprise of you. Then think about you know a

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Speaker 1: lot of these football clubs have been around for for

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Speaker 1: decades and you know millennia. Uh, you know, they've been

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Speaker 1: around longer than some of the North American clubs. UM.

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Speaker 1: And so they've been thinking about this, I'm really trying

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Speaker 1: to be global and diversified what they've been doing for

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Speaker 1: you know, pre pandemic. But the pandemic just really cast

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Speaker 1: a light on what teams were doing for what they

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Speaker 1: weren't doing. Looking at this report, people, especially here in

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Speaker 1: the US when it comes to soccer, better get with

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Speaker 1: the program because this isn't anymore they played in Europe

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Speaker 1: now none of this is. This thing is super duper

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Speaker 1: huge and we're going to get left behind in the

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Speaker 1: US if we don't catch on. And I just want

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Speaker 1: your thoughts on that. Yeah, I would say, um, you

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Speaker 1: know the game they experienced, the some of the bells

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Speaker 1: and whistles. I think North America absolutely crushes it there.

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Speaker 1: You know, we are definitely ahead in terms of providing

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Speaker 1: that in game. You know, think the Vegas Golden Nights.

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Speaker 1: There's all these amazing examples of teams here in North America.

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Speaker 1: Um that over deliver in some ways on the game

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Speaker 1: day experience. But then, but what this report was about

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Speaker 1: was again enterprise value. It's it's long term growth. It's

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Speaker 1: touching fans where they are in a personalized way that

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Speaker 1: you know, these football clubs, International football clubs have already started,

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Speaker 1: say you know, their own O T. T channel, They've

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Speaker 1: they have a women's program, Um, they have, they've invested

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Speaker 1: in E sports, they've they've already been doing sportsmen. Again,

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Speaker 1: that's by nature of the laws and are up versus

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Speaker 1: where we are here or we're just catching on and

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Speaker 1: you legally can't do sports betting in certain states, so

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Speaker 1: some teams get danged for that. But the report was

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Speaker 1: about what are the possible ways you could UM touch

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Speaker 1: your fans, deliver and experience to your fans and ultimately

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Speaker 1: create revenue, drive more revenue and wallet share from those fans,

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Speaker 1: and thinking global UM, thinking what are the different assets

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Speaker 1: you can build to support your your core fan base.

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Speaker 1: The football club's UM check a lot of those boxes

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Speaker 1: in this and this report and in our analysis, which

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Speaker 1: I'll say isn't a report, it really to us is

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Speaker 1: a strategic roadmap for growth. UM. So uh I don't

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Speaker 1: I wouldn't say that the US is and North American

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Speaker 1: sports teams are bad. I would just say we're focused

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Speaker 1: a lot on the game day experience unless on the

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Speaker 1: overall enterprise growth UM. And it's increasingly you see a

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Speaker 1: lot of private exity firms and and and money coming

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Speaker 1: into the space UM uh financial instruments. They're looking for

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Speaker 1: that that bigger UM, that bigger play. So uh So

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Speaker 1: we're doing things well in US and in North America.

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Speaker 1: But are we really focusing on again getting two fans

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Speaker 1: where they are how they wanted that personalization? That that

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Speaker 1: is one thing that the football clubs in this analysis

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Speaker 1: really really stood out for. So Angela, I'm looking at

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Speaker 1: the list of the top twenty here and I'm just

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Speaker 1: going to focus in on a couple of American franchises

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Speaker 1: in your top ten, the Golden State Warriors and the

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Speaker 1: Sacramento Kings. I never would have picked those two franchises.

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Speaker 1: What are they doing right that? Like the New York Knicks,

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Speaker 1: the Boston Celtics, that Dallas Cowboys, the sexy or franchises

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Speaker 1: are not doing Yeah again, Um, what's interesting The league

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Speaker 1: with the most amount of teens is the NBA. UM.

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Speaker 1: So just to those examples, Um, you know, do you

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Speaker 1: have a multi use district? I mean, that's one way

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Speaker 1: you can touch fans before, during, and after three sixty

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Speaker 1: five days of the year. You're are you building a

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Speaker 1: facility that can can touch those fans and give them

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Speaker 1: more opportunities to interact with your brand and spend money

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Speaker 1: on your brand? Um? Are you investing? And again the

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Speaker 1: technology platforms that allowed your fans even if they never

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Speaker 1: step foot in a facility, which during the pandemic was

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Speaker 1: again highlighted. UM, look at the ownership groups of those

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Speaker 1: two properties, specifically UM their technology uh technology billionaires. I mean, so,

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Speaker 1: what's the and that goes into our organizational agility pillar?

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Speaker 1: Are you from a leadership perspective, if you're an owner

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Speaker 1: of one of these teams or or uh you know,

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Speaker 1: the CEO of one of these teams, you have the

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Speaker 1: right team underneath you that can execute on that vision,

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Speaker 1: that can make the right built by partner decisions. So

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Speaker 1: I always talked at some of the results as well,

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Speaker 1: believe me, but I've always wanted to produce a report.

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Speaker 1: It wasn't influenced by my opinion because I would have

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Speaker 1: gotten a very different list of It was just my opinion. Um,

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Speaker 1: you guys all a love the different list of it

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Speaker 1: was your opinion, And that, I think is what the

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Speaker 1: industry has been used to is, Hey, we're get in

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Speaker 1: a room, we talk about it. It's what who we

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Speaker 1: can get to or what we've read that week. And

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Speaker 1: this report was really about, like, let's let's lay the

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Speaker 1: ground rules for what we think is important in terms

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Speaker 1: of growth again, revenue diversification, technology alignment, to what your

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Speaker 1: fans want, or you're investing in the right technology what

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Speaker 1: your fans want, and are you structured in the right

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Speaker 1: way you have the right teams in place to have

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Speaker 1: access to new ideas and really look and feel like

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Speaker 1: your fan base. UM, the teams that played well there,

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Speaker 1: uh you know, invest in those areas. It comes from

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Speaker 1: the top, honestly, And I guess that's my point. Like

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Speaker 1: some of this is just looking at who your leaders

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Speaker 1: are and again how they're thinking about UM investing in

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Speaker 1: and supporting in their sports franchises, not just as a

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Speaker 1: killer game. They're not just winning. We heard that a lot. Well,

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Speaker 1: my team wins, everything else, you know, falls into place.

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Speaker 1: And what this report I think isolated is UM. I mean,

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Speaker 1: look at the Knicks, like to one of these examples, Like,

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Speaker 1: even if you're out winning in some cases, you can

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Speaker 1: still drive a lot of value and be innovative. UM.

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Speaker 1: It doesn't just have to be on the court. Yeah,

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Speaker 1: just look at the Knicks. Is the beginning different? Just

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Speaker 1: so many different conversations, Angela. You know, you know, as

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Speaker 1: you're talking about the different facilities and the different ownership

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Speaker 1: structures and whatnot. You know, one of the things that

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Speaker 1: that intrigued me reading through the report was you know

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Speaker 1: you talked about some shared facilities. Uh, and specifically I

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Speaker 1: believe you mentioned, you know what's going on in Los

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Speaker 1: Angeles and the soccer franchises there, and I believe you're

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Speaker 1: gonna have l A f C. And Angel City the

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Speaker 1: soon to be playing women's soccer team. They're sharing a facility.

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Speaker 1: And that leads me to I think I'm not making

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Speaker 1: too far of a leap between and some of the

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Speaker 1: other work that that you're doing around the Fan Project,

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Speaker 1: which is about engaging around women's sports, and part of

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Speaker 1: it is the physical location, part of it is the engagement.

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Speaker 1: Tell us about the Fan Project because this is really

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Speaker 1: about elevating women's sports in many ways. Yeah, thank you.

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Speaker 1: Um So Again, we've we try to be data driven

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Speaker 1: and everything we do um our analysis, our recommendations to

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Speaker 1: our clients is about that. Um so that when you know,

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Speaker 1: we produce lists or reports or research reports, it's all

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Speaker 1: about what was the data say. And we realized that

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Speaker 1: the number one question this industry gets asked and tries

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Speaker 1: to answer but cannot do successfully in our opinion, and

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Speaker 1: I think most would argue the same is who is

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Speaker 1: my fan literally, who is my customer? Who is the

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Speaker 1: consumer of sports? UM. A lot of the industry today

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Speaker 1: looks at their own CRM system. They might have demographic,

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Speaker 1: they might have no mail lift UM, but they don't

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Speaker 1: understand the fan in terms of their different behaviors. And

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Speaker 1: that's what our food fan research has been really focused

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Speaker 1: on over the last few years is like behavioral analysis

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Speaker 1: and so UM I tie this to women's sports and

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Speaker 1: the Fan Project because right now how we measure interest

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Speaker 1: in sports is almost exclusively focused on Nielsen ratings on

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Speaker 1: linear viewership. And there's a chicken in the egg problem

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Speaker 1: here that if we are focused simply on measuring one

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Speaker 1: fan behavior is a very important behavior in this industry

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Speaker 1: watching um, you're missing out on all the other behaviors

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Speaker 1: that would indicate and demonstrate fandom interest. Money on the table, Uh,

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Speaker 1: fans are co watching? Well, who's measuring that? Fans are buying? Well,

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Speaker 1: that's it's in a different data set over maybe fanatic zones.

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Speaker 1: What what are they betting? Okay, all the betting providers

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Speaker 1: on data, all these different data sets are disaggregated, and

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Speaker 1: what we're focused on through the Fan Project is looking

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Speaker 1: at fan interest. Fan demand behaviors of fans and measuring that.

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Speaker 1: And so what we're doing with women's sports is actually

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Speaker 1: asking fans to give us their social media archives. And

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Speaker 1: I believe because the vast majority of women's sports fans

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Speaker 1: cannot view online or cannot view on linear TV. I

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Speaker 1: think it's four percent of viewership is allocated to women's sports.

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Speaker 1: But there's a lot of fans out there. They're forced

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Speaker 1: to go online on Twitch, on different O t Q

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Speaker 1: to whistle, other other O t t providers, other ways

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Speaker 1: to to show interests there. They talk about women's sports online,

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Speaker 1: they like athletes, they share content, they create content. There's

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Speaker 1: a lot of activity which we hope to measure and

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Speaker 1: then produce a really um amazing data driven report on

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Speaker 1: the business opportunity of women's sports. So we're attempting through

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Speaker 1: the Fan Project to show with data that there's a

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Speaker 1: hell of a market out there that's currently underserved because

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Speaker 1: you're measuring the wrong thing. You're measuring something is very important.

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Speaker 1: Put again back to the chicken and the egg problem.

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Speaker 1: It's not the only indicator of um of fan demand

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Speaker 1: or fan interest. So, uh, if you're if you're listening

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Speaker 1: and you care, go to the Fan Project dot CEO

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Speaker 1: help us out. We're literally gonna do good with your data.

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Speaker 1: We're gonna try to turn it into a recommendation to

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Speaker 1: the market. UM. That shows that there's a lot of

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Speaker 1: interests out there, and it might be a food fan,

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Speaker 1: it might be the casual fan that doesn't watch women's

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Speaker 1: sports but occasionally like something from the women's soccer teams

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Speaker 1: like oh that's awesome. Well, that to me shows in

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Speaker 1: our data hopefully will show that UM enough of those

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Speaker 1: people that are casual fans. If you put more on TV,

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Speaker 1: they'll watch it. If you build it, they will come, UM,

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Speaker 1: not the other way around. I want to expand on

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Speaker 1: that because what you guys are trying to do with

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Speaker 1: Sports Innovation Lab, the end result is you want to

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Speaker 1: increase the coverage of women's sports to ten of all

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Speaker 1: sports coverage in ten months time. Can you expand more

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Speaker 1: on that? Yeah? I mean it's it's we keep referencing

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Speaker 1: the four UM. I think with the right UM information

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Speaker 1: we can drive more investment. And investment could mean financial investment.

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Speaker 1: You see all the money flowing into Angel City and

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Speaker 1: Washington and all these women's soccer teams in the w

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Speaker 1: n B a now, UM, it could mean investment in

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Speaker 1: terms of sponsorship, which certainly is a main is one

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Speaker 1: of the main pillars of any sports ecosystem, but viewership,

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Speaker 1: we found is also look the whole The whole ecosystem

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Speaker 1: works when you can be on, when you can be live,

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Speaker 1: and when you can be on linear. UM. So we're

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Speaker 1: trying to push for more visibility of women's sports and

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Speaker 1: had a whole campaign under the hashtag she did that,

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Speaker 1: which is, hey, if you if you were inspired by

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Speaker 1: a woman by women's sports, UM, tell us about it,

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Speaker 1: because we know if you can, if we can see more.

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Speaker 1: Billy Jing King, one of my great friends UM and

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Speaker 1: and role models, always says, if you can see it,

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Speaker 1: you can be it. And so we want to get

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Speaker 1: more visibility today in International Women's Day. Give more visibility,

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Speaker 1: you'll get more interest and you'll you'll change the industry

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Speaker 1: in the ecosystem. A lot of people say, I'm not

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Speaker 1: intoed to women's sports, so they've never seen it maybe

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Speaker 1: outside of the Olympics. It's it's hard to it's literally

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Speaker 1: hard to be a women's sports fan. So we're hoping

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Speaker 1: to move the needle from from four to ten percent

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Speaker 1: and just put a stake in the gown in terms

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Speaker 1: of where we want to go. All right, Angela capturing

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Speaker 1: the fluid fan. Who is and what is a fluid fan?

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Speaker 1: What do you guys think? They're everywhere? You guys are fluid.

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Speaker 1: We're all fluid fans. They're all fluid by nature. We

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Speaker 1: all don't do one thing, we don't look alike. The

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Speaker 1: fluid fan is about this elusive fan, this fickle fan

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Speaker 1: in today's environment, especially you know, coming out of COVID,

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Speaker 1: that demands more, that wants a personalized experience, that it

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Speaker 1: is digitally savvy, that um cares and votes through their

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Speaker 1: values and watches according to who they are. And again

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Speaker 1: it's it's it's shifting away from the one size fits

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Speaker 1: all approach. Look we're on linear it's at this time

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Speaker 1: ticket sales or this way. It's no, we need to

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Speaker 1: do more to understand this, this ever changing fan that

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Speaker 1: wants these different experiences. They might want to they probably

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Speaker 1: never go. I'll just use the NBA as an example.

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Speaker 1: Maybe they've never gone in an NBA game, but they

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Speaker 1: know every single player because of NBA two K. Maybe

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Speaker 1: they are they're the ones buying the top shot. Maybe

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Speaker 1: there everyone I'm sure following the top shot example Dapper

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Speaker 1: Labs and the the blockchain that's allows you to own

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Speaker 1: digital cards. Now, basically maybe they are simply using their phone. Literally,

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Speaker 1: just a consumer that's not just buying tickets for watching

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Speaker 1: a linear is a fluid fan because they're using their

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Speaker 1: phone now, they're more digitally savvy to consumed content. They

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Speaker 1: might watch something on Twitch and talk. All these behaviors

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Speaker 1: I can talk about. They they're open to change. I

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Speaker 1: guess so you guys, I don't know your favorite team.

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Speaker 1: I was a Kings fan growing up, as Dick heard

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Speaker 1: Kings fan. I grew up in l A. I love hockey. Um,

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Speaker 1: but they're open to change. I'm a fluid fan now

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Speaker 1: I'm I live in Boston. Now I'm okay, I'm a

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Speaker 1: Burns fan. They're empowered to choose because of technology. We've

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Speaker 1: given them multiple platforms, multiple options, so they're empowered to

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Speaker 1: do more as a fan, which is fantastic. Again back

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Speaker 1: to our top twenty report. You need to give them

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Speaker 1: more experiences, and the key point is there constantly evolving.

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Speaker 1: You think you know your fan one day, and they change.

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Speaker 1: We all change. I order my groceries now with two

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Speaker 1: clicks of a button because of the pandemic. I'm more

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Speaker 1: digitally savvy. Well, I expect the same of my sports

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Speaker 1: experiences and entertainment experiences, So they're constantly evolving. So the

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Speaker 1: fluid fan harding to nail down in a sentence, but

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Speaker 1: that they are like digitally savvy, they expect more. They

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Speaker 1: want personalized attention, and you don't. You'll never truly know

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Speaker 1: who they are, which means we have to really pay

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Speaker 1: attention to our fans, maybe for the first time in

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Speaker 1: uh in In in the in the sports industries lifetime.

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Speaker 1: And so Angela, give us a tangible example of something

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Speaker 1: that you've seen a team do or you've advised a

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Speaker 1: team to do that responds to that sort of fan

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Speaker 1: because what you're describing, if you sort of play it

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Speaker 1: out to its logical conclusion, you know, ultimately undermines the

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Speaker 1: economic model in many ways that we have come to associate,

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Speaker 1: especially with pro sports across all the major leagues. As

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Speaker 1: you say, it was all about the game day, and

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Speaker 1: you know, is the food good and are the site

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Speaker 1: lines good? And you know, can you park and all

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Speaker 1: those different things. What are some things that you've seen

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Speaker 1: teams do to sort of adapt their business to this

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Speaker 1: fluid fan. Yeah, and I'll tie that back to our

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Speaker 1: top twenty report because that's literally what we did. We said,

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Speaker 1: if you take away the core elements, and we're not

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Speaker 1: saying throw the baby out of the bathwater, yet you

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Speaker 1: still need your broadcast, you still need your tickets. Absolutely,

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Speaker 1: this is about the R and D budget. Where are

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Speaker 1: you spending money against new experiences, new ways that fans

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Speaker 1: want to interact, UM, new ways to drive to drive revenue.

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Speaker 1: And if you go back to that report, UM top

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Speaker 1: twenty five teams in the world, some of the trends

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Speaker 1: and emerge. I think we'll answer that question for you. UM.

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Speaker 1: Uh have a paid fan membership. What does that mean?

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Speaker 1: You're gonna drive more reve you, but you're gonna give

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Speaker 1: them more unique custom experiences. Uh. Of the teams have

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Speaker 1: their own O T T platform over the top. Why

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Speaker 1: do we recommend that, Yes, it's a new driver revenue.

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Speaker 1: You also begin to understand your consumer, collect data on

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Speaker 1: your on your fan and and again be able to

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Speaker 1: create more personalized experience for them. How to women's property, Well,

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Speaker 1: that's not oh here, it's a laws leader who No,

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Speaker 1: it's there's a new funnel. That's why people are investing

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Speaker 1: in the sports as well. It's like it's a new

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Speaker 1: funnel into your core assets. So women's sports should be

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Speaker 1: a investment in of itself. But it's also again that

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Speaker 1: you're if you're talking about the enterprise of of a

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Speaker 1: team or property. We think is a good way se

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Speaker 1: I think I mentioned this before. Had play in a

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Speaker 1: mixed use environment, which means again you're bringing fans to

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Speaker 1: your stadium for other experiences. It's it becomes a focal

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Speaker 1: point of your community. You get more wallet share that way,

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Speaker 1: more awareness. I mean, I can keep going on and on.

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Speaker 1: Incubator programs, have an incubator program again, new ideas, new

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Speaker 1: ways to think about. Um, what your fans care about?

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Speaker 1: What are these products and services hitting the market? Do

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Speaker 1: you understand them? You are? You? Are you on top

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Speaker 1: of the ideas, not just the products that come out

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Speaker 1: of incubators. A lot of times startups sale you know

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Speaker 1: that just like where is the market head and what

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Speaker 1: are these young entrepreneurs trying to solve for there's a

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Speaker 1: there's a there's a gap maybe so UM. A lot

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Speaker 1: of the report again tied back to that question, which

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Speaker 1: is there are simple things you could do. You could literally,

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Speaker 1: I mean a simple recommendation, do you have your Twitter

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Speaker 1: profile in more than one language? Make sure you have

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Speaker 1: a Spanish Twitter profile, something very easy. If your fans

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Speaker 1: don't all look and sound the same, what are you

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Speaker 1: doing to build out that ecosystem which is all technology

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Speaker 1: enabled as we know UM to really support them? And

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Speaker 1: the great thing is, you know, COVID exposed a lot

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Speaker 1: of that, but we see a lot of teams now

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Speaker 1: really pushing forward with their digital transformations with trying to

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Speaker 1: think through, um, how do they create more growth underneath them?

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Speaker 1: And uh and ultimately, as fans, I'm want to go

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Speaker 1: back to the stadium, I'm I'm like, can't wait to

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Speaker 1: get back to the same. But some fans may not.

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Speaker 1: They want that really great leaned back experience at home.

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Speaker 1: Maybe they have two or three screens where they're interacting

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Speaker 1: and their betting and they're talking. Um, are you able

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Speaker 1: to build out that that pick ask experience at home

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Speaker 1: for those fans that want to you know, stay at home.

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Speaker 1: So again, hard answer, but like there's some easy things

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Speaker 1: to do, just simply like to communicate in their language, UM,

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Speaker 1: and harder things, which is invest in build out your

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Speaker 1: own maybe o T product that allows you to see

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Speaker 1: that these fans are Yeah, a lot of disruption coming

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Speaker 1: for sure. And as you rightly said earlier in the conversation, Angela,

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Speaker 1: the pandemic has is just celerated so much, really really

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Speaker 1: good to catch up with you. Um, you just have

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Speaker 1: your finger on the pulse of so many interesting things.

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Speaker 1: Can't wait to have you back and hopefully back in

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Speaker 1: the studio before too long, because I think we're all

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Speaker 1: itching to get back to two stadiums, two offices, to

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Speaker 1: all those things that look a lot more like normal life.

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Speaker 1: So thanks again for spending some time with us. Always

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Speaker 1: a pleasure. I was a fan of you guys keep

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Speaker 1: educating the market. I'm a big fan of what you

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Speaker 1: guys are doing as well. This is the Bloomberg Business

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Speaker 1: of Sports podcast on Michael Barr along with Mike Lynch

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Speaker 1: and Jason Kelly, and we're here with you each and

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Speaker 1: every Monday, Wednesday and Thursday exploring the world of money

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Speaker 1: and sports. Join us again at the end of the week,

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Speaker 1: we're gonna catch up with Cynthia Marshall. She's the CEO

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Speaker 1: of the Dallas Fatoris you're listening to Bloomberg Business of Sports,

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Speaker 1: on Bloomberg Radio around the world and online. Wherever you

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Speaker 1: get your body