1 00:00:02,480 --> 00:00:08,240 Speaker 1: Bloomberg Audio Studios, Podcasts, Radio News. 2 00:00:12,600 --> 00:00:15,120 Speaker 2: Welcome back to The Deal everyone, I'm Jason Kelly alongside 3 00:00:15,160 --> 00:00:19,480 Speaker 2: Alex Rodriguez a very special episode of The Deal Today, 4 00:00:19,720 --> 00:00:23,240 Speaker 2: Magic Johnson, the one and only. We taped this live 5 00:00:23,440 --> 00:00:26,040 Speaker 2: at the Milkon and Stuke Global Conference in Beverly Hills. 6 00:00:26,400 --> 00:00:28,920 Speaker 2: It was electric man, so electric. 7 00:00:28,640 --> 00:00:30,760 Speaker 3: Well Magic, I mean, he's one of one, right, and 8 00:00:31,040 --> 00:00:33,080 Speaker 3: we were in his hometown right there in LA where 9 00:00:33,120 --> 00:00:35,159 Speaker 3: he played for the Lakers and won five titles. 10 00:00:35,600 --> 00:00:36,920 Speaker 1: I've known him almost thirty years. 11 00:00:36,920 --> 00:00:39,600 Speaker 3: She's been a friend and a mentor, and I love 12 00:00:39,640 --> 00:00:44,080 Speaker 3: the way he talked about value partnerships, demanding excellence. 13 00:00:43,920 --> 00:00:46,640 Speaker 2: And he talked about some of his most recent partnerships, 14 00:00:46,760 --> 00:00:50,080 Speaker 2: most notably his ownership stake in the Washington Commanders. He 15 00:00:50,120 --> 00:00:53,400 Speaker 2: talked about Starbucks and a seminal deal that he made 16 00:00:53,760 --> 00:00:56,400 Speaker 2: with Howard Schultz and what that took. He talked about 17 00:00:56,440 --> 00:01:00,000 Speaker 2: institutional capital, and he talked about a couple iconic players. 18 00:01:00,240 --> 00:01:02,920 Speaker 2: I mean a team that we followed so closely. 19 00:01:02,640 --> 00:01:04,880 Speaker 3: Right, oh yeah, and that was the Olympic team in 20 00:01:04,959 --> 00:01:07,960 Speaker 3: nineteen ninety two, and of course that changed the NBA, 21 00:01:08,040 --> 00:01:11,320 Speaker 3: made it a global sport. And he specifically talked about 22 00:01:11,440 --> 00:01:14,280 Speaker 3: none other than Larry Bird and Michael Jordan. 23 00:01:14,640 --> 00:01:16,679 Speaker 2: You'll hear all of that coming up on this very 24 00:01:16,680 --> 00:01:32,280 Speaker 2: special episode of the Deal. All right, So I'm gonna 25 00:01:32,280 --> 00:01:35,039 Speaker 2: say just you know, as a human being, this is 26 00:01:35,080 --> 00:01:39,400 Speaker 2: exciting for me. But my excitement, I'm telling you, is 27 00:01:39,560 --> 00:01:44,440 Speaker 2: nothing compared to this guys. Alex Rodriguez is not He 28 00:01:44,480 --> 00:01:47,640 Speaker 2: does not swoon, He does not you know, be like, oh, 29 00:01:47,680 --> 00:01:48,640 Speaker 2: I'm so excited about this. 30 00:01:49,720 --> 00:01:53,080 Speaker 4: He's beside himself right now. All right, So I'm Jason Kelly. 31 00:01:53,080 --> 00:01:54,920 Speaker 4: This is Alex Rodriguez. We have home embarrassed. 32 00:01:55,000 --> 00:01:56,640 Speaker 1: Yeah, oh just wait. 33 00:01:57,040 --> 00:01:59,040 Speaker 2: We host to show a Bloomberg called The Deal, and 34 00:01:59,280 --> 00:02:01,840 Speaker 2: we couldn't be more excited to have you here with 35 00:02:01,920 --> 00:02:02,600 Speaker 2: us Magic. 36 00:02:02,440 --> 00:02:04,320 Speaker 1: So thank you, thank you. I appreciate that. 37 00:02:04,600 --> 00:02:06,600 Speaker 2: So what's so interesting is there are a lot of 38 00:02:06,600 --> 00:02:09,560 Speaker 2: fans in this room of both of these guys, but 39 00:02:09,760 --> 00:02:12,200 Speaker 2: there is a very special relationship between these two. 40 00:02:12,520 --> 00:02:13,359 Speaker 4: It's so interesting. 41 00:02:13,600 --> 00:02:15,880 Speaker 2: As Alex and I have been doing this show, we 42 00:02:15,960 --> 00:02:19,280 Speaker 2: have had a north star and I know Alex has 43 00:02:19,320 --> 00:02:22,200 Speaker 2: a north star in Magic and this is a this 44 00:02:22,240 --> 00:02:25,000 Speaker 2: is a relationship that goes back a long way to 45 00:02:25,040 --> 00:02:28,880 Speaker 2: a young Seattle Mariner who was essentially cold calling heroes 46 00:02:29,480 --> 00:02:32,120 Speaker 2: and trying to learn about business. Alex, I want you 47 00:02:32,240 --> 00:02:34,360 Speaker 2: to take us back happened here in Los Angeles, to 48 00:02:34,480 --> 00:02:37,080 Speaker 2: what you took from what was meant to be thirty 49 00:02:37,080 --> 00:02:40,160 Speaker 2: minutes turned you into a few hours. 50 00:02:40,440 --> 00:02:43,799 Speaker 4: You still have the notes. What's the takeaway from magic? 51 00:02:44,040 --> 00:02:44,280 Speaker 1: Yeah? 52 00:02:44,280 --> 00:02:47,480 Speaker 3: Thanks Jason, and thanks everybody for being here. I'm a 53 00:02:47,560 --> 00:02:51,079 Speaker 3: huge believer in the power of mentorship. So I called 54 00:02:51,240 --> 00:02:55,760 Speaker 3: Lon Rosen, who's a longtime partner of Irvin, and I said, 55 00:02:55,840 --> 00:02:58,200 Speaker 3: is there any way now we're with the Mariners, there's 56 00:02:58,280 --> 00:03:00,880 Speaker 3: like twenty five, twenty seven years ago. I'm just a 57 00:03:00,919 --> 00:03:03,480 Speaker 3: young kid, twenty two to twenty three, and I said, long, 58 00:03:03,520 --> 00:03:06,320 Speaker 3: can I get thirty minutes with the guy? And I'm 59 00:03:06,360 --> 00:03:08,359 Speaker 3: thinking like, yeah, maybe in a couple of years. He's like, hey, 60 00:03:08,360 --> 00:03:12,280 Speaker 3: how's tomorrow night. I'm like, bet, I'm there. So we 61 00:03:12,400 --> 00:03:14,680 Speaker 3: sat in a room it was supposed to be thirty minutes. 62 00:03:14,840 --> 00:03:16,600 Speaker 3: That led to him with a three hour dinner where 63 00:03:16,600 --> 00:03:19,040 Speaker 3: I have like nine pages of notes and there's no 64 00:03:19,160 --> 00:03:21,640 Speaker 3: question in my mind that Irvin has impacted me. And 65 00:03:21,720 --> 00:03:24,680 Speaker 3: without that dinner, because here's a man of color, here's 66 00:03:24,680 --> 00:03:26,600 Speaker 3: a guy that was a Hall of Fame basketball player. 67 00:03:26,880 --> 00:03:29,040 Speaker 3: He comes from humble beginnings, all things that I can 68 00:03:29,120 --> 00:03:32,280 Speaker 3: relate with. And I said, if Magic can do it, 69 00:03:32,480 --> 00:03:34,720 Speaker 3: why can't I. So anyways, I wouldn't own a team 70 00:03:34,760 --> 00:03:36,920 Speaker 3: without Magic. I wouldn't have a Rod Corp Without Irvin. 71 00:03:36,920 --> 00:03:38,240 Speaker 3: And I just want to say thank you, and I 72 00:03:38,280 --> 00:03:39,360 Speaker 3: wanted to share that story with you. 73 00:03:39,480 --> 00:03:40,440 Speaker 1: No, thank you. 74 00:03:40,760 --> 00:03:43,360 Speaker 2: Well, let's talk about that, because what you have done 75 00:03:43,520 --> 00:03:45,600 Speaker 2: over the course of the last you know, thirty forty years, 76 00:03:45,680 --> 00:03:48,960 Speaker 2: is a series of unbelievable deals and one of the 77 00:03:48,960 --> 00:03:51,320 Speaker 2: most interesting things, and Alex and I talk about this 78 00:03:51,360 --> 00:03:54,160 Speaker 2: all the time, is your movement to ownership. You know, 79 00:03:54,240 --> 00:03:56,240 Speaker 2: you have a partner mark in here in the front 80 00:03:56,320 --> 00:03:59,440 Speaker 2: row with the Washington Commanders. We spent some time with 81 00:03:59,480 --> 00:04:03,200 Speaker 2: your Josh Harris last week in Miami. That's a seminal 82 00:04:03,240 --> 00:04:06,360 Speaker 2: deal for the NFL. I would argue, it's a seminal 83 00:04:06,400 --> 00:04:09,840 Speaker 2: deal for you. Would you agree? And how do you. 84 00:04:09,840 --> 00:04:11,680 Speaker 4: Put that in the context of your dealmaking? 85 00:04:11,880 --> 00:04:15,880 Speaker 5: No, it's the greatest deal I've ever done. I mean, listen, first, 86 00:04:15,920 --> 00:04:18,680 Speaker 5: as a kid, I'm already a football fan. I played football, 87 00:04:19,520 --> 00:04:21,560 Speaker 5: but I knew I was better at basketball, So I 88 00:04:21,600 --> 00:04:25,360 Speaker 5: gave it up in high school to concentrate on basketball. 89 00:04:25,839 --> 00:04:28,440 Speaker 5: But to know that I've been a big fan of 90 00:04:28,480 --> 00:04:31,799 Speaker 5: the NFL, not knowing that a man of color could 91 00:04:31,880 --> 00:04:34,760 Speaker 5: actually become an owner in the NFL, but I had. 92 00:04:35,480 --> 00:04:37,560 Speaker 5: Josh Harris said, hey, I want you to be a 93 00:04:37,640 --> 00:04:41,880 Speaker 5: part of this ownership group. We had went after the 94 00:04:41,920 --> 00:04:45,280 Speaker 5: Denver Broncos, but a young man for Walmark said I 95 00:04:45,279 --> 00:04:47,640 Speaker 5: don't care what you bid. I'm gonna outbid you, so 96 00:04:48,000 --> 00:04:51,880 Speaker 5: you might well just keep your money right and Josh 97 00:04:52,080 --> 00:04:53,120 Speaker 5: I said, okay, we give. 98 00:04:55,320 --> 00:04:58,200 Speaker 1: But the team we're supposed to own, we own. 99 00:04:58,960 --> 00:05:02,000 Speaker 5: Why did I say that Josh Harris is from d C, 100 00:05:02,400 --> 00:05:07,160 Speaker 5: so he watched the Redskins as a boy. Marks from 101 00:05:07,240 --> 00:05:10,720 Speaker 5: d C, so he watched the Redskins as a boy. 102 00:05:11,080 --> 00:05:12,680 Speaker 1: Mitch Rails is from d C. 103 00:05:13,400 --> 00:05:18,160 Speaker 5: So now they got men who grew up loving this 104 00:05:18,279 --> 00:05:23,239 Speaker 5: team who now become the owners and the gatekeepers. And 105 00:05:23,640 --> 00:05:25,720 Speaker 5: I think, and I knew that we were going to 106 00:05:25,800 --> 00:05:28,480 Speaker 5: do a fantastic job, and then for them to bring 107 00:05:28,560 --> 00:05:32,320 Speaker 5: me in, it's a blessing for me, but also for 108 00:05:33,160 --> 00:05:36,080 Speaker 5: men of color, but also former athletes as well. It 109 00:05:36,200 --> 00:05:39,000 Speaker 5: shows them that we can go from the court to 110 00:05:39,120 --> 00:05:42,080 Speaker 5: the boardroom, and I want to thank Mark because he's here, 111 00:05:42,440 --> 00:05:45,159 Speaker 5: and Josh has done a wonderful job of leading our 112 00:05:45,440 --> 00:05:47,400 Speaker 5: team and the ownership group. 113 00:05:47,640 --> 00:05:50,120 Speaker 1: And look where we when we bought the team. Look 114 00:05:50,120 --> 00:05:50,880 Speaker 1: where we are. 115 00:05:50,680 --> 00:05:54,320 Speaker 5: Today, you know, and it's going up and up and up. 116 00:05:54,360 --> 00:05:56,599 Speaker 5: And I'm so happy to be a part of the 117 00:05:56,680 --> 00:05:57,360 Speaker 5: ownership group. 118 00:05:57,680 --> 00:06:00,680 Speaker 3: Sir, that's your best deal in sports, and we agree 119 00:06:00,760 --> 00:06:02,800 Speaker 3: that's just in the NFL is one of one. I mean, 120 00:06:02,839 --> 00:06:04,440 Speaker 3: Roger Goodell does an incredible. 121 00:06:04,120 --> 00:06:04,800 Speaker 1: Job, we know that. 122 00:06:05,560 --> 00:06:08,360 Speaker 3: But going to outside of sports and business, going back 123 00:06:08,360 --> 00:06:10,880 Speaker 3: to the Howard Shult stage with Starbucks one hundred and 124 00:06:10,880 --> 00:06:14,200 Speaker 3: twenty five stores, Mark Master for twenty four our fitness 125 00:06:14,279 --> 00:06:16,920 Speaker 3: and other deals. Also, you got an insurance business. What 126 00:06:16,960 --> 00:06:19,800 Speaker 3: would you think is your seminal deal outside of sports? 127 00:06:20,000 --> 00:06:23,560 Speaker 5: It have to be Starbucks because it gave me the 128 00:06:23,680 --> 00:06:27,599 Speaker 5: stamp of approval. A lot of people wanted to take 129 00:06:27,640 --> 00:06:29,919 Speaker 5: the meeting with me because they wanted to autograph in 130 00:06:29,920 --> 00:06:32,920 Speaker 5: the picture, but then they said no, they didn't want 131 00:06:32,920 --> 00:06:33,839 Speaker 5: to be in business with me. 132 00:06:34,800 --> 00:06:36,159 Speaker 1: I knew we were going. 133 00:06:36,040 --> 00:06:38,800 Speaker 5: To Seattle, and I knew Howard shows set court side, 134 00:06:38,880 --> 00:06:42,080 Speaker 5: So I said to the PR guy or Seattle, which. 135 00:06:42,520 --> 00:06:46,839 Speaker 1: One is Howard Shows and he said there, he is 136 00:06:46,920 --> 00:06:47,880 Speaker 1: right there. I said, cool. 137 00:06:48,200 --> 00:06:50,800 Speaker 5: I ran right over there to him right and I said, hey, 138 00:06:50,800 --> 00:06:56,200 Speaker 5: I'm Irvin Johnson. I know where you are man, And 139 00:06:56,240 --> 00:06:58,719 Speaker 5: I asked him, I said, could I take you to 140 00:06:58,880 --> 00:07:01,640 Speaker 5: lunch or dinner the next time that we're back playing 141 00:07:02,040 --> 00:07:06,080 Speaker 5: the SuperSonics and to sit down and just go over 142 00:07:06,200 --> 00:07:07,800 Speaker 5: business and talk to you. 143 00:07:08,320 --> 00:07:11,760 Speaker 1: And he said okay. So a few weeks later. 144 00:07:11,600 --> 00:07:16,160 Speaker 5: We went back up there, and my movie Theaters was 145 00:07:16,200 --> 00:07:18,880 Speaker 5: crushing it in the inner city. It showed people you 146 00:07:18,920 --> 00:07:22,760 Speaker 5: can make money doing business in the inner cities of America. 147 00:07:23,240 --> 00:07:25,200 Speaker 5: So I went up there. I took the numbers up 148 00:07:25,200 --> 00:07:28,640 Speaker 5: to him. I showed them, Hey, we're doing great. My 149 00:07:28,880 --> 00:07:32,160 Speaker 5: theaters are top ten highest grosing theaters in the nation. 150 00:07:32,560 --> 00:07:36,160 Speaker 5: And nobody thought, you know, we can make money. And 151 00:07:36,200 --> 00:07:38,200 Speaker 5: he looked and said wow. I said, the growth of 152 00:07:38,240 --> 00:07:41,240 Speaker 5: your business would be through urban America because you got 153 00:07:41,520 --> 00:07:45,280 Speaker 5: one on every corner in suburban America. So he said, Urban, 154 00:07:45,360 --> 00:07:47,600 Speaker 5: let me come down see how you operate your business. 155 00:07:48,600 --> 00:07:51,000 Speaker 5: But also I got to talk to the board and 156 00:07:51,040 --> 00:07:53,960 Speaker 5: the shareholders. I said, okay. So he came down saw 157 00:07:53,960 --> 00:07:57,400 Speaker 5: how I operated it. He was very impressed. And then 158 00:07:58,800 --> 00:08:00,600 Speaker 5: the hardest thing I thought I was going to do 159 00:08:00,680 --> 00:08:03,680 Speaker 5: was play against Larry Bird and Michael Jordan. The hardest 160 00:08:03,720 --> 00:08:07,280 Speaker 5: thing was to go before the board and then going 161 00:08:07,400 --> 00:08:12,160 Speaker 5: to a movie theater pack with good shareholders and try 162 00:08:12,200 --> 00:08:15,360 Speaker 5: to convince them this is a great move for Starbucks. 163 00:08:15,840 --> 00:08:18,760 Speaker 5: And sure enough I was able to do that and 164 00:08:19,000 --> 00:08:22,320 Speaker 5: they all signed off, and I became the first person 165 00:08:22,560 --> 00:08:25,360 Speaker 5: to ever own Starbucks. Outside of Starbucks, we built one 166 00:08:25,440 --> 00:08:29,560 Speaker 5: hundred and twenty five and forty different markets across America. 167 00:08:29,760 --> 00:08:33,520 Speaker 5: They all did extremely well, and that really gave me, 168 00:08:34,760 --> 00:08:37,560 Speaker 5: first of all, the stamp of approval. It gave me 169 00:08:37,600 --> 00:08:40,800 Speaker 5: the track record that I needed of success so I 170 00:08:40,840 --> 00:08:42,440 Speaker 5: can move on to something else. 171 00:08:42,760 --> 00:08:45,560 Speaker 1: And then, last but not least, Alex. This is the 172 00:08:45,559 --> 00:08:46,000 Speaker 1: one thing. 173 00:08:46,040 --> 00:08:48,440 Speaker 5: It gave me a chance to go up to cal 174 00:08:48,520 --> 00:08:52,040 Speaker 5: Purrs and Cal Stirs. Yeah, because I was using my money, 175 00:08:52,760 --> 00:08:55,440 Speaker 5: but if I wanted sustainability and growth, I had to 176 00:08:55,480 --> 00:09:00,080 Speaker 5: go to institutional capital. And it took me three years 177 00:09:00,120 --> 00:09:03,040 Speaker 5: man to convince cal Perrs to give me fifty million 178 00:09:03,080 --> 00:09:06,160 Speaker 5: dollars and they said, uh, we. 179 00:09:06,200 --> 00:09:12,680 Speaker 1: Love you magic, but Urban America, we're not too excited 180 00:09:12,720 --> 00:09:14,360 Speaker 1: about it. How can we make money. 181 00:09:14,720 --> 00:09:16,840 Speaker 5: But they finally gave me the fifty and they said, 182 00:09:16,880 --> 00:09:18,880 Speaker 5: if you over delivered with this fifty, you can come 183 00:09:18,920 --> 00:09:21,280 Speaker 5: back and get hundreds and hundreds of millions of dollars. 184 00:09:21,720 --> 00:09:24,079 Speaker 5: I did that. I over delivered. I bought a shopping 185 00:09:24,120 --> 00:09:27,400 Speaker 5: center only for twenty two million. It was only forty 186 00:09:27,440 --> 00:09:30,160 Speaker 5: percent occupied. I made it one hundred percent occupied. I 187 00:09:30,200 --> 00:09:33,720 Speaker 5: resold it for almost fifty million dollars. Took that twenty 188 00:09:33,760 --> 00:09:36,320 Speaker 5: eight million dollar profit up north and they. 189 00:09:36,240 --> 00:09:37,120 Speaker 1: Said, I said here go. 190 00:09:38,400 --> 00:09:43,160 Speaker 5: They said, oh, okay, you do no business, let's do it. 191 00:09:43,240 --> 00:09:46,440 Speaker 5: So that's when I started my fund. And then you know, 192 00:09:46,480 --> 00:09:50,280 Speaker 5: I partnered with Canyon Partners to do Urban Urban America. 193 00:09:50,320 --> 00:09:51,599 Speaker 1: So we started an urban. 194 00:09:51,360 --> 00:09:56,080 Speaker 5: Fundah Ron Burkle and I started a private equity fund together, 195 00:09:56,120 --> 00:10:00,400 Speaker 5: which was another urban fund U KAIPA Johnson, and then 196 00:10:00,440 --> 00:10:04,440 Speaker 5: I just took off from there. How do you pick partners, Well, 197 00:10:04,480 --> 00:10:07,800 Speaker 5: first of all, we all in here have been through 198 00:10:07,800 --> 00:10:11,640 Speaker 5: a bad marriage with partners, No, every single one of us, 199 00:10:11,760 --> 00:10:16,719 Speaker 5: at least one, right, So I went through one or 200 00:10:16,880 --> 00:10:22,000 Speaker 5: two of those and I said never again. And I 201 00:10:22,080 --> 00:10:25,040 Speaker 5: always wanted to pick partners that could teach me something 202 00:10:25,760 --> 00:10:29,320 Speaker 5: that can help expand my knowledge in terms of business 203 00:10:29,960 --> 00:10:31,160 Speaker 5: mentor me in a sense. 204 00:10:31,240 --> 00:10:33,479 Speaker 1: So sure enough. 205 00:10:33,920 --> 00:10:37,679 Speaker 5: When I think about Mark Waters and Todd Bowley, Peter Gruber, 206 00:10:37,800 --> 00:10:40,320 Speaker 5: all these people that we own the Dodgers together, they 207 00:10:40,320 --> 00:10:44,839 Speaker 5: have done an excellent job of allowing me to grow 208 00:10:45,640 --> 00:10:49,040 Speaker 5: but also too to use my expertise as well. It's 209 00:10:49,080 --> 00:10:53,280 Speaker 5: been wonderful, Bobby Patton, all of them, So it's been great. 210 00:10:53,640 --> 00:10:58,960 Speaker 5: And then Mark and Mitchell and Josh is doing the 211 00:10:59,000 --> 00:11:03,680 Speaker 5: same thing issues in DC that they know that, Hey, 212 00:11:03,840 --> 00:11:07,800 Speaker 5: I can, you know, be a part of the board market. 213 00:11:07,800 --> 00:11:11,280 Speaker 5: And I was on boards Josh assigned us too, and 214 00:11:11,400 --> 00:11:13,480 Speaker 5: so it's been wonderful to be a part of and 215 00:11:13,559 --> 00:11:16,720 Speaker 5: have a voice, a real voice. And so I thank 216 00:11:16,800 --> 00:11:19,960 Speaker 5: Josh for that. And so I know what I know 217 00:11:20,200 --> 00:11:22,400 Speaker 5: and I know what I don't know, right. I think 218 00:11:22,520 --> 00:11:25,920 Speaker 5: a lot of times when athletes are trying to become businessmen, 219 00:11:26,600 --> 00:11:28,840 Speaker 5: they got to take their ego out of it and 220 00:11:28,960 --> 00:11:33,720 Speaker 5: back up and really understand, Hey, what do you really know? 221 00:11:34,160 --> 00:11:34,439 Speaker 1: Right? 222 00:11:35,040 --> 00:11:38,520 Speaker 5: And to Alice's point, you got to get mentors, and 223 00:11:38,559 --> 00:11:41,960 Speaker 5: you've got to be with businessmen and women who want 224 00:11:42,000 --> 00:11:46,199 Speaker 5: to help you grow, right. And so all the teams 225 00:11:46,200 --> 00:11:50,320 Speaker 5: that I'm involved in It's been great to learn from 226 00:11:50,320 --> 00:11:54,960 Speaker 5: the different people, men and women, and to expand my 227 00:11:55,040 --> 00:11:57,120 Speaker 5: own personal growth. 228 00:12:10,520 --> 00:12:13,040 Speaker 3: So I remember when you about the Dodgers we started talking, 229 00:12:13,040 --> 00:12:14,480 Speaker 3: you were kind of peppering me with a questions about 230 00:12:14,480 --> 00:12:17,000 Speaker 3: baseball and all that. My question to you now, as 231 00:12:17,000 --> 00:12:19,320 Speaker 3: an owner of an NBA and a WNBA team, what 232 00:12:19,440 --> 00:12:21,760 Speaker 3: are two or three things now you learn from the 233 00:12:21,760 --> 00:12:23,920 Speaker 3: best and doctor bus you're one of the greatest of 234 00:12:23,960 --> 00:12:27,040 Speaker 3: all times. What can I do to be a better owner? 235 00:12:27,120 --> 00:12:28,360 Speaker 3: What are the two or three things I should be 236 00:12:28,400 --> 00:12:29,800 Speaker 3: thinking about with my partner Mark Luri. 237 00:12:30,360 --> 00:12:33,800 Speaker 5: Well, I think first of all, to have a three 238 00:12:33,840 --> 00:12:38,080 Speaker 5: to five year plan and where you want to take 239 00:12:38,120 --> 00:12:38,959 Speaker 5: the franchise. 240 00:12:39,880 --> 00:12:43,000 Speaker 1: Make sure that everybody. 241 00:12:42,679 --> 00:12:46,440 Speaker 5: Is on the same page and everybody in your organization 242 00:12:46,640 --> 00:12:51,440 Speaker 5: understands that plan and that strategy right. And have a 243 00:12:51,480 --> 00:12:55,520 Speaker 5: great relationship with your players. I think that when you 244 00:12:55,600 --> 00:12:59,200 Speaker 5: have a great relationship with your players, they'll come to 245 00:12:59,280 --> 00:13:02,520 Speaker 5: you and they'll come and tell you, hey. 246 00:13:02,320 --> 00:13:04,640 Speaker 1: We need this, we need that to be successful. 247 00:13:05,080 --> 00:13:08,360 Speaker 5: And that's very important that those men or women are 248 00:13:08,520 --> 00:13:11,360 Speaker 5: very happy and that they know that you care. 249 00:13:12,080 --> 00:13:12,280 Speaker 1: You know. 250 00:13:12,960 --> 00:13:16,720 Speaker 5: And then, last but not least, listen, be demanding and 251 00:13:16,840 --> 00:13:18,160 Speaker 5: hold everybody accountable. 252 00:13:18,760 --> 00:13:20,560 Speaker 1: You know, I come around that corner. 253 00:13:20,600 --> 00:13:23,360 Speaker 5: You may see a smile, but you let us be 254 00:13:23,480 --> 00:13:28,600 Speaker 5: losing no smiling, right. My job is to hold everybody accountable, 255 00:13:28,920 --> 00:13:31,400 Speaker 5: and so I will always talk to the guys, make 256 00:13:31,440 --> 00:13:36,280 Speaker 5: sure they understand what's the identity of this franchise, right, 257 00:13:36,679 --> 00:13:40,439 Speaker 5: And you have to say, this is who we are, 258 00:13:40,600 --> 00:13:43,120 Speaker 5: this is who we want to be, and make sure 259 00:13:43,200 --> 00:13:47,080 Speaker 5: those men or women understand that. And we've done that 260 00:13:47,160 --> 00:13:52,120 Speaker 5: with we changed the whole identity with the Washington commanders. 261 00:13:52,440 --> 00:13:54,840 Speaker 5: They know that we care about them, but they know 262 00:13:54,920 --> 00:13:58,400 Speaker 5: we want to win, right, and the fans know that, 263 00:13:58,800 --> 00:14:01,640 Speaker 5: and it's trickled down to everybody in that organization. Some 264 00:14:01,880 --> 00:14:04,520 Speaker 5: day one when we had a meeting with all the staff, 265 00:14:04,559 --> 00:14:07,120 Speaker 5: we told them were here to win, and we're going 266 00:14:07,200 --> 00:14:11,280 Speaker 5: to change the environment that that losing environment that they 267 00:14:11,280 --> 00:14:14,800 Speaker 5: were in before. And we've done that step by step 268 00:14:14,880 --> 00:14:18,120 Speaker 5: by step. We changed the stadium, we changed the locker room, 269 00:14:18,360 --> 00:14:22,160 Speaker 5: all the things that players were complaining about. Josh did 270 00:14:22,160 --> 00:14:25,400 Speaker 5: a wonderful job of jumping on top of that, right, 271 00:14:25,920 --> 00:14:29,120 Speaker 5: and so and then he sends us out and where 272 00:14:29,120 --> 00:14:33,120 Speaker 5: we're strong. So you make sure Mark, you might go 273 00:14:33,160 --> 00:14:36,320 Speaker 5: one way, but Alex, you might go another way because 274 00:14:36,320 --> 00:14:38,880 Speaker 5: there's plenty of things to tackle and then you tackle 275 00:14:38,960 --> 00:14:42,200 Speaker 5: some together. And so that's what I would say to you. 276 00:14:42,680 --> 00:14:44,560 Speaker 2: So to that point, Magic, And actually I'm going to 277 00:14:44,600 --> 00:14:46,520 Speaker 2: turn this question on you too, Alex. You know, this 278 00:14:46,600 --> 00:14:49,880 Speaker 2: whole notion of an athlete turned owner is fascinating to me. 279 00:14:50,640 --> 00:14:51,760 Speaker 4: This may come as a surprise. 280 00:14:51,800 --> 00:14:57,120 Speaker 2: I did not play professional sports, but I know some 281 00:14:57,160 --> 00:14:59,680 Speaker 2: people who did, and soon asked this question. As a 282 00:14:59,720 --> 00:15:03,640 Speaker 2: play former player turned owner, what do you say to players? 283 00:15:03,680 --> 00:15:06,080 Speaker 2: What's the sort of tack that you take to them, 284 00:15:06,080 --> 00:15:09,360 Speaker 2: because maybe they're in your sport, maybe they're a baseball 285 00:15:09,360 --> 00:15:11,960 Speaker 2: player or a soccer player or a football player. 286 00:15:12,120 --> 00:15:13,280 Speaker 4: What's the tack you take them? 287 00:15:13,480 --> 00:15:16,600 Speaker 2: What's the secrets that you can sort of the secret 288 00:15:16,680 --> 00:15:18,640 Speaker 2: language if there is one that you can speak to 289 00:15:18,680 --> 00:15:21,280 Speaker 2: them that you know a Josh or Mark Kent. 290 00:15:21,600 --> 00:15:26,080 Speaker 5: Well, because you know, we talk about preparation and I 291 00:15:26,200 --> 00:15:29,200 Speaker 5: talk to our commander players about you know, preparation. 292 00:15:29,320 --> 00:15:32,000 Speaker 1: It starts in practice. You got to. 293 00:15:32,080 --> 00:15:35,920 Speaker 5: Practice the way you're going to play on Sunday, so 294 00:15:35,960 --> 00:15:39,760 Speaker 5: that starts on Monday all the way through, right and 295 00:15:40,360 --> 00:15:44,080 Speaker 5: losing it's got to be a bad taste in your mouth, right, 296 00:15:44,600 --> 00:15:49,160 Speaker 5: and then we got to be a team. We lose 297 00:15:49,200 --> 00:15:50,720 Speaker 5: as a team, we win as a team. 298 00:15:50,920 --> 00:15:51,200 Speaker 1: Right. 299 00:15:51,760 --> 00:15:54,800 Speaker 5: It can't be hitting agendas that kills you every time 300 00:15:55,640 --> 00:15:59,800 Speaker 5: everybody got there. If a player got his own agenda 301 00:16:00,800 --> 00:16:04,640 Speaker 5: and it's not about team goes, it's gonna kill you, You're 302 00:16:04,520 --> 00:16:08,760 Speaker 5: gonna lose, and it trickles down within the locker room. 303 00:16:09,200 --> 00:16:11,720 Speaker 5: So that's what I would say. But the one thing 304 00:16:11,800 --> 00:16:14,840 Speaker 5: we both have is that they respect us already. Yeah, 305 00:16:14,960 --> 00:16:17,760 Speaker 5: and I can say something that Mark can't say right, right, 306 00:16:17,880 --> 00:16:20,000 Speaker 5: because he's gonna look at me and say, oh, he's 307 00:16:20,000 --> 00:16:20,640 Speaker 5: been through it. 308 00:16:20,880 --> 00:16:21,120 Speaker 1: Right. 309 00:16:21,480 --> 00:16:23,440 Speaker 4: Do you find that, Alex? I mean, like, what's your 310 00:16:23,480 --> 00:16:24,560 Speaker 4: experience so far with that? 311 00:16:24,760 --> 00:16:25,000 Speaker 1: Yeah? 312 00:16:25,080 --> 00:16:27,000 Speaker 5: I do agree with every hold on one second, and 313 00:16:27,040 --> 00:16:29,920 Speaker 5: then I walk in with seventeen damn World Series or 314 00:16:30,040 --> 00:16:33,600 Speaker 5: World Championship ring, right, So I'm walking in with jewelry, 315 00:16:33,680 --> 00:16:38,120 Speaker 5: so they understand that language, real fans, Okay. 316 00:16:37,840 --> 00:16:39,560 Speaker 3: Go ahead, that's right. 317 00:16:40,160 --> 00:16:40,760 Speaker 1: No, I think. 318 00:16:40,800 --> 00:16:42,320 Speaker 4: Look, I think Irvan and I one thing we know. 319 00:16:42,400 --> 00:16:44,560 Speaker 3: We know how the players feel, we know where they 320 00:16:44,560 --> 00:16:47,560 Speaker 3: come from, we know the pressures, and like, make no mistake, 321 00:16:47,600 --> 00:16:49,880 Speaker 3: when Irvan and I played, it was hard to be 322 00:16:49,960 --> 00:16:52,440 Speaker 3: an athlete. It's no harder time to be an athlete 323 00:16:52,440 --> 00:16:55,200 Speaker 3: than today. Thank God. I ain't play when at the 324 00:16:55,240 --> 00:16:57,360 Speaker 3: height of social media, I got myself in enough trouble. 325 00:16:57,720 --> 00:17:00,800 Speaker 3: But in New York City, gonna championship. 326 00:17:00,840 --> 00:17:03,120 Speaker 4: But no one knows what you're no one, no one knows, 327 00:17:03,360 --> 00:17:03,800 Speaker 4: nobody knows. 328 00:17:03,840 --> 00:17:04,000 Speaker 1: Good. 329 00:17:04,040 --> 00:17:18,359 Speaker 4: That is your fine? All right? Can we do the 330 00:17:18,440 --> 00:17:18,880 Speaker 4: rapid fire? 331 00:17:18,920 --> 00:17:19,280 Speaker 1: Let's do it? 332 00:17:19,320 --> 00:17:19,600 Speaker 4: All right? 333 00:17:19,640 --> 00:17:22,280 Speaker 2: We're gonna so on our show, The Deal. Please tune 334 00:17:22,320 --> 00:17:25,320 Speaker 2: in and download wherever you got your podcast. We do 335 00:17:25,359 --> 00:17:27,840 Speaker 2: a little rapid fire segment. So we're gonna hit you 336 00:17:27,840 --> 00:17:28,320 Speaker 2: with this magic. 337 00:17:28,359 --> 00:17:28,720 Speaker 4: Are you ready? 338 00:17:29,040 --> 00:17:29,720 Speaker 1: I'm ready? All right? 339 00:17:29,840 --> 00:17:32,560 Speaker 2: Just the first thing that comes to your mind? What's 340 00:17:32,640 --> 00:17:34,960 Speaker 2: one word to describe your deal making style? 341 00:17:38,040 --> 00:17:45,920 Speaker 1: One word? Wow? A lot of pressure? Yes, dang success? 342 00:17:46,320 --> 00:17:46,840 Speaker 4: Oh? 343 00:17:47,359 --> 00:17:50,240 Speaker 1: Or what's more important to you? Data or your gut? 344 00:17:50,680 --> 00:17:56,480 Speaker 5: It's always my feel, feel, always my feel. I'm always 345 00:17:56,720 --> 00:17:58,480 Speaker 5: read the data, no question about it. 346 00:17:58,520 --> 00:17:59,879 Speaker 1: But it's a feel. 347 00:18:00,080 --> 00:18:03,359 Speaker 5: When they walk in and we I can just feel 348 00:18:03,520 --> 00:18:04,680 Speaker 5: is it gonna be a deal? 349 00:18:05,160 --> 00:18:07,200 Speaker 1: And I know when it's not going to be a deal? 350 00:18:07,240 --> 00:18:07,480 Speaker 2: Wow? 351 00:18:08,080 --> 00:18:09,719 Speaker 4: Who's your dream deal making partner? 352 00:18:10,320 --> 00:18:10,639 Speaker 1: Wow? 353 00:18:11,000 --> 00:18:11,480 Speaker 4: Got a lot? 354 00:18:11,880 --> 00:18:20,400 Speaker 1: Wow? That's big? Just the next guy? Growth mode. 355 00:18:20,520 --> 00:18:26,480 Speaker 5: Hey, no, I'm I'm not choosy or picky the next woman, 356 00:18:26,640 --> 00:18:29,880 Speaker 5: next man. Let's go get it done. And the one 357 00:18:29,880 --> 00:18:32,800 Speaker 5: thing they gonna know about me, everything I'm supposed to 358 00:18:32,800 --> 00:18:37,000 Speaker 5: do as Mark, I'm gonna do it in more so, 359 00:18:37,160 --> 00:18:39,160 Speaker 5: whatever my role is, I'm gonna play it. 360 00:18:39,840 --> 00:18:42,040 Speaker 3: What's the best piece of advice you've ever received on 361 00:18:42,119 --> 00:18:43,800 Speaker 3: deal making or business? 362 00:18:44,160 --> 00:18:47,119 Speaker 5: Ron Berker once told me Irvin, I brought him this 363 00:18:47,200 --> 00:18:49,480 Speaker 5: little deal. He said, Irvan, the same amount of time 364 00:18:49,520 --> 00:18:51,960 Speaker 5: I gotta spend on that little deal, It's the same 365 00:18:52,000 --> 00:18:54,800 Speaker 5: amount of time I gotta spend making a billion dollars. 366 00:18:55,000 --> 00:18:55,879 Speaker 1: I said, I got it. 367 00:18:55,920 --> 00:19:00,960 Speaker 5: Thank you for that small deals. 368 00:19:03,760 --> 00:19:05,920 Speaker 4: What's the worst advice you've ever been given? 369 00:19:06,840 --> 00:19:07,760 Speaker 1: The worst advice? 370 00:19:08,680 --> 00:19:09,000 Speaker 4: Uh? 371 00:19:09,200 --> 00:19:12,000 Speaker 5: Not with smart women and men, they don't give you 372 00:19:12,280 --> 00:19:13,400 Speaker 5: really worst advice. 373 00:19:14,720 --> 00:19:18,480 Speaker 1: Thank God that I'm in rooms. 374 00:19:18,160 --> 00:19:23,040 Speaker 5: Like this a lot, and that you with solid people 375 00:19:23,560 --> 00:19:27,360 Speaker 5: and people who have really been successful at what they do. 376 00:19:28,640 --> 00:19:31,479 Speaker 5: I think the worst advice Alex and I get it's 377 00:19:31,600 --> 00:19:34,520 Speaker 5: usually from people that they don't have much right a 378 00:19:34,680 --> 00:19:35,720 Speaker 5: success right. 379 00:19:35,800 --> 00:19:36,880 Speaker 1: They always talk a. 380 00:19:36,840 --> 00:19:39,480 Speaker 5: Good game, but they don't really back it up with, 381 00:19:40,760 --> 00:19:43,600 Speaker 5: you know, action and what they're doing. 382 00:19:43,760 --> 00:19:46,280 Speaker 3: Or what's your hype song before a big game, meeting 383 00:19:46,400 --> 00:19:47,119 Speaker 3: or negotiation. 384 00:19:47,400 --> 00:19:48,120 Speaker 1: Oh that's good. 385 00:19:48,160 --> 00:19:51,720 Speaker 5: Anything Michael Jackson, okay, all right, anything that's my man, 386 00:19:52,240 --> 00:19:55,600 Speaker 5: the greatest artists of all time to me, and and 387 00:19:55,640 --> 00:19:58,359 Speaker 5: I love Prince too, So either one put them on, 388 00:19:58,480 --> 00:19:59,160 Speaker 5: I'm good. 389 00:19:59,040 --> 00:19:59,400 Speaker 4: All right. 390 00:19:59,520 --> 00:20:01,520 Speaker 2: You want to few people to win the basketball triple 391 00:20:01,520 --> 00:20:05,520 Speaker 2: Crown and the NCAA Championship, five NBA championships, and an 392 00:20:05,520 --> 00:20:08,200 Speaker 2: Olympic gold medal, which meant the most too. 393 00:20:08,640 --> 00:20:09,840 Speaker 1: I think the gold medal. 394 00:20:10,119 --> 00:20:13,520 Speaker 5: Because of this, I finally got a chance to play 395 00:20:13,560 --> 00:20:14,480 Speaker 5: with Michael and Larry. 396 00:20:14,600 --> 00:20:17,280 Speaker 1: Yeah, I've always on my bucket list. 397 00:20:17,359 --> 00:20:19,600 Speaker 5: I've always wanted to just throw a pass to both 398 00:20:19,640 --> 00:20:22,920 Speaker 5: of those guys, like a no, look past, like come 399 00:20:23,000 --> 00:20:26,640 Speaker 5: down that damn middle, and I'm coming down and there's 400 00:20:26,720 --> 00:20:30,679 Speaker 5: Larry in the corner, just no, looking real fast and 401 00:20:30,760 --> 00:20:32,639 Speaker 5: let him shoot that beautiful jump shot. 402 00:20:32,720 --> 00:20:34,080 Speaker 4: Yeah, like Larry does. 403 00:20:35,080 --> 00:20:37,800 Speaker 1: And then Larry talks to I love that day. He 404 00:20:37,920 --> 00:20:40,080 Speaker 1: talks trash. 405 00:20:40,359 --> 00:20:43,360 Speaker 5: And then Michael come down the middle with the tongue out. 406 00:20:45,280 --> 00:20:46,040 Speaker 1: Nothing like it. 407 00:20:46,119 --> 00:20:48,320 Speaker 5: And I'm telling you, when I threw the note, look 408 00:20:48,400 --> 00:20:51,480 Speaker 5: past that both of them dudes, what's. 409 00:20:51,200 --> 00:20:52,440 Speaker 4: Better than that? 410 00:20:52,440 --> 00:20:52,840 Speaker 1: That was it? 411 00:20:53,160 --> 00:20:56,840 Speaker 5: Yeah? Yeah, nothing like it. I love both of them. 412 00:20:56,880 --> 00:21:01,160 Speaker 5: They both made their teammates better. Michael's the greatest has 413 00:21:01,200 --> 00:21:08,600 Speaker 5: ever played this game, This dude when I played with him, Larry, So, Alex, 414 00:21:08,600 --> 00:21:11,679 Speaker 5: you're gonna love this. So Larry and I got all 415 00:21:11,680 --> 00:21:16,600 Speaker 5: the championships, right, Yeah, so he true story. 416 00:21:18,600 --> 00:21:22,760 Speaker 1: So he walks in. It ain't Brian, you know. So 417 00:21:22,840 --> 00:21:26,119 Speaker 1: we walk in and Michael comes in. 418 00:21:26,520 --> 00:21:28,960 Speaker 5: Larry and I are sitting here talking and he stands 419 00:21:29,040 --> 00:21:31,720 Speaker 5: right there and he says, I just want both of 420 00:21:31,760 --> 00:21:32,520 Speaker 5: you guys. 421 00:21:32,200 --> 00:21:36,760 Speaker 1: To know there's a new sheriff in town. And we 422 00:21:36,840 --> 00:21:38,320 Speaker 1: had to bow down. You're right. 423 00:21:38,720 --> 00:21:41,880 Speaker 5: And he went on to win six championships and never 424 00:21:42,000 --> 00:21:46,399 Speaker 5: lost in the finals. So it's hard to argue about 425 00:21:46,440 --> 00:21:48,679 Speaker 5: a man that great that could do the things that 426 00:21:48,720 --> 00:21:53,440 Speaker 5: he could do. And his player got some of Michael's 427 00:21:53,480 --> 00:21:56,040 Speaker 5: quality out in terms of how he can go up 428 00:21:56,080 --> 00:21:57,520 Speaker 5: in the air and do some of the things that 429 00:21:57,560 --> 00:21:58,040 Speaker 5: he can do. 430 00:21:58,200 --> 00:21:58,720 Speaker 1: Yeah. 431 00:21:59,000 --> 00:22:02,160 Speaker 4: Special, all right, last question for this room. 432 00:22:02,640 --> 00:22:07,400 Speaker 2: Very successful people aren't successful but with a lot of ambition. 433 00:22:07,800 --> 00:22:11,480 Speaker 2: What's your best advice to them who want a career 434 00:22:11,560 --> 00:22:12,040 Speaker 2: like yours? 435 00:22:12,840 --> 00:22:17,080 Speaker 1: Wow? Man, oh man? Me giving these people advice? Wow? 436 00:22:18,080 --> 00:22:21,280 Speaker 5: I think really just uh you know, continue to be 437 00:22:21,359 --> 00:22:23,840 Speaker 5: who they are and do what they do, and don't 438 00:22:23,880 --> 00:22:27,359 Speaker 5: forget this. You know, we all you know, it's great 439 00:22:27,400 --> 00:22:30,119 Speaker 5: to make a lot of money, but also we'll be 440 00:22:30,240 --> 00:22:33,720 Speaker 5: remembered by also giving back and how many people we 441 00:22:33,840 --> 00:22:36,960 Speaker 5: touched too, you know, and that's very important, and so 442 00:22:37,080 --> 00:22:40,480 Speaker 5: I would say, don't forget that part of it as well. 443 00:22:40,960 --> 00:22:43,880 Speaker 5: The impact that they can make, whether it's with their 444 00:22:43,920 --> 00:22:48,680 Speaker 5: wallet or with their power and expertise, is very important, 445 00:22:48,720 --> 00:22:52,560 Speaker 5: especially times like now, we really need that. And uh 446 00:22:52,640 --> 00:22:55,280 Speaker 5: so I would say, continue to do what they're doing. 447 00:22:55,320 --> 00:22:58,360 Speaker 5: I'm just excited to be here. Listen, Alex and I 448 00:22:58,440 --> 00:23:01,119 Speaker 5: when we had that meeting, never thought we would be here. 449 00:23:01,800 --> 00:23:03,720 Speaker 1: I've been friends with Michael Milkin. 450 00:23:03,480 --> 00:23:07,159 Speaker 5: For probably over thirty years and the man has just 451 00:23:07,840 --> 00:23:11,879 Speaker 5: been incredible in my life. And so for that Alex 452 00:23:11,920 --> 00:23:15,040 Speaker 5: and I to be on this stage at the Milking Conference, 453 00:23:15,119 --> 00:23:18,399 Speaker 5: oh man, this is I got goosebumps already, like I'm 454 00:23:18,440 --> 00:23:21,439 Speaker 5: getting ready to go play basketball, and so this is 455 00:23:21,480 --> 00:23:22,679 Speaker 5: really outstanding for me. 456 00:23:23,480 --> 00:23:27,080 Speaker 2: All Right, well, magicic On behalf of Alex, the giddiest 457 00:23:27,119 --> 00:23:29,640 Speaker 2: man in Hollywood right now, Thank. 458 00:23:29,400 --> 00:23:30,200 Speaker 4: You so much for your time. 459 00:23:30,240 --> 00:23:31,399 Speaker 1: This was God blessed everybody. 460 00:23:31,400 --> 00:23:32,000 Speaker 4: Thank you everyone. 461 00:23:38,720 --> 00:23:42,880 Speaker 6: The Deal is a production from Bloomberg Podcasts and Bloomberg Originals. 462 00:23:43,480 --> 00:23:46,639 Speaker 6: The Deal is hosted by Alex Rodriguez and Jason Kelly. 463 00:23:47,040 --> 00:23:51,520 Speaker 6: This show was produced by Anamazarakis, Lizzie Phillip, and Stacey Wong. 464 00:23:52,040 --> 00:23:54,760 Speaker 6: Original music and engineering by Blake Maples. 465 00:23:55,160 --> 00:23:55,600 Speaker 1: David E. 466 00:23:55,840 --> 00:23:59,760 Speaker 6: Ravella is our managing editor. 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