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Speaker 1: Welcome to The Favorites, the podcast presented by bet three

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Speaker 1: sixty five.

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Speaker 2: We are part of the Action Network.

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Speaker 1: I am Chad Millman, Chief Content Officer of the Action Network.

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Speaker 1: We're in the heart of NFL offseason. We are about

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Speaker 1: one hundred days since the last game was played. We

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Speaker 1: are probably a little more than one hundred days till

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Speaker 1: the next game is played. The NFL schedule was released yesterday.

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Speaker 1: As usual, it doesn't matter what is going on, the

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Speaker 1: NFL does something. The rest of the world takes second place.

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Speaker 1: Joining us today to discuss the cultural ubiquity of the NFL,

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Speaker 1: the future of sports betting as a business, how it

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Speaker 1: is all co mingling, how it is affecting us as

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Speaker 1: fans business at spurts social media, Maven Impresario of the

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Speaker 1: very popular Huddle Up newsletter, Joe Pampeliano as always joining

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Speaker 1: me for this conversation is my co host, my companion,

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Speaker 1: Mi Capadre, my BFF professional betters Signmon Hunter. He oh, so, i'mon.

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Speaker 3: How are we doing, Chad brother?

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Speaker 1: I feel like the NFL has perfected this. They've been

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Speaker 1: leaking like for the past month. Here's the Thursday night game,

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Speaker 1: here's the Brazil game. Here's some ideas of where you

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Speaker 1: might get some new platform games. Then the schedule release

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Speaker 1: comes out. It is prime time specials on two different networks.

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Speaker 1: It is all anybody is talking about. It becomes a

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Speaker 1: social media holiday for teams, the Chargers, the Patriots, like,

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Speaker 1: people are going all in on this stuff. And it's

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Speaker 1: the release of the schedule, and yet we are going

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Speaker 1: to succumb to it. We're going to cover it in

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Speaker 1: the coming weeks. We'll be doing extensive deep dives into

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Speaker 1: the schedule, how it should impact futures, bets, how it

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Speaker 1: should impact season win totals. The NFL is so good.

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Speaker 3: Yeah, and scheduled thoughts the best, just because none of

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Speaker 3: it really matters, right, Chad, all of us are right

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Speaker 3: now out of thousand win percentage, we're all winners at

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Speaker 3: this point. So yeah, Bears fans can look at the schedule,

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Speaker 3: say they have eleven wins somehow with a rookie quarterback.

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Speaker 3: Eagles fans look at the schedule, they're like, Wow, we're

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Speaker 3: going to Brazil, coming home to play a Monday night

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Speaker 3: game than a Sunday night game, Like that's that's really

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Speaker 3: what we're looking for, right, The different lineups of games.

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Speaker 3: And you know, even Steeler fans who are close in

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Speaker 3: my life, they have like the worst six weeks I've

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Speaker 3: ever seen, like scheduling wise. So this is why people

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Speaker 3: obsessed about and care about it. But like you said, Chad,

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Speaker 3: it's just if you're a dire fan, there's nothing better

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Speaker 3: like seeing your team, especially if you're a fan of

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Speaker 3: you know, getting primetime games. If you're kill out a

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Speaker 3: Panther fan, I think the NFL tells you all you

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Speaker 3: need to know about organization when you have zero primetime games.

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Speaker 3: So it is fun where it's fun to punch down

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Speaker 3: on these teams where it's like, look at you, guys,

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Speaker 3: zero primetime games. The NFL is really letting you know

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Speaker 3: how they feel about you. So you have always fun

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Speaker 3: talking football and me, I know, we.

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Speaker 1: Talked about this and we're gonna dig into it more

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Speaker 1: and we'll talk about win totals in futures. But the

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Speaker 1: Texans getting all this prime time love, yeah, boy, that's

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Speaker 1: gonna feel like an automatic faid. You just have to

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Speaker 1: As a reminder, the Favorites podcast is presented by Bet

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Speaker 1: one or older and present in Arizona, Colorado, Indiana, Iowa, Louisiana,

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Speaker 1: North Carolina, New Jersey, Ohio, Virginia. We're eighteen and olderre

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Speaker 1: in Kentucky. Gambling problem called one eight hundred gambler or

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Speaker 1: one eight hundred bets off in Iowa terms. Conditioned restrictions apply.

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Speaker 1: Catch every episode of the Favorites live on YouTube. For

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Speaker 1: those enjoying on YouTube, don't forget to give us a like,

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Speaker 1: subscribe to the Action Network YouTube page.

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Speaker 2: All right, we set it up.

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Speaker 1: NFL is basically a twelve month a year behemoth. Joe,

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Speaker 1: your coverage of the NFL Draft live crowds and bidding

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Speaker 1: wars is a perfect example. Another example Christmas Day, the

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Speaker 1: league announcing yesterday two Marquee games available to stream on

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Speaker 1: Netflix for the first time, and you had a tweet.

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Speaker 1: I want you to summarize the tweet because this is

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Speaker 1: exactly what we're talking about, why covering the business of

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Speaker 1: sports directly impacts fans. Joe, tell people your tweet and

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Speaker 1: how it's going to cost us.

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Speaker 2: All Right, So the tweet was essentially just explaining how

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Speaker 2: many different platforms and services you now need to watch

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Speaker 2: the NFL. And the kind of overview of this is

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Speaker 2: that the NFL, in my opinion at least, has done

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Speaker 2: a better job than any sports league and kind of

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Speaker 2: like intelligently dividing up its inventory to maximize revenue without

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Speaker 2: overdoing it to fans mostly. But I think we're now

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Speaker 2: kind of pushing that line of like what's acceptable and

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Speaker 2: maybe isn't acceptable given what other sports leagues have gone through.

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Speaker 2: But if you look at the schedule for next year,

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Speaker 2: there's games on eleven different channels. You need four different

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Speaker 2: subscription services. You need Netflix, Amazon Prime, Peacock, and ESPN Plus,

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Speaker 2: which will all have exclusive games you can't watch anywhere else.

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Speaker 2: You need cable or YouTube TV or something like that

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Speaker 2: to watch most of the games, and then you need

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Speaker 2: Sunday ticket to be able to watch everything. Right, So

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Speaker 2: if you add all that stuff up, you're looking at

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Speaker 2: what did I say? It was eight hundred or nine

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Speaker 2: hundred and fifty six dollars, right, And look, maybe some

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Speaker 2: people came back and they said, you don't need it

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Speaker 2: all for six months. Okay, get rid of ESPN plus

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Speaker 2: after the month that you needed for the game. Get

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Speaker 2: rid of Netflix if you really want to and don't

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Speaker 2: have it already. Same thing with Peacock. You're still looking

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Speaker 2: at seven eight hundred dollars for the year. Whereas we

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Speaker 2: used to live in a time where all you really

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Speaker 2: needed was a cable package and Sunday ticket, right, you

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Speaker 2: needed two things. And now what the NFL has done

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Speaker 2: is they've seen that they can take individual games, marquee games,

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Speaker 2: create these events out of them like Christmas Day, obviously, Thanksgiving,

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Speaker 2: Black Friday, so forth, sell them to individual networks, get

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Speaker 2: one hundred, one hundred and fifty million dollars per game,

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Speaker 2: depending on where they're selling it and when, and make

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Speaker 2: a tremendously more amount of money than they would have

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Speaker 2: previously by doing that. Defense. Look, people say they're going

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Speaker 2: to get oversaturated, there's going to be subscription fatigue. But

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Speaker 2: they've been saying that for years, right, This has been

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Speaker 2: happening for a number of years now, and the NFL

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Speaker 2: arguably has only gotten stronger over the years, and I

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Speaker 2: don't think that's going to be slowing down anytime soon.

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Speaker 1: Simon. I look at that number, nine hundred and eighty

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Speaker 1: six dollars, that feels like a steal. Think about all

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Speaker 1: the stuff that we spend money on. How much of

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Speaker 1: this stuff do we spend money on for one thousand

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Speaker 1: dollars that we don't love as much as we love

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Speaker 1: the NFL.

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Speaker 3: Yeah, I would say to Joe's point, the pushback are

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Speaker 3: definitely going to be Younger people don't have that kind

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Speaker 3: of money to spend on that kind of stuff, right.

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Speaker 3: It's just like a struggle to get by, especially in

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Speaker 3: your early twenties or the people who remember yesteryear right

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Speaker 3: where it's like they had the Bunny Years on their

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Speaker 3: TV and you got every game unless it was getting

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Speaker 3: blacked out for free on basic cable. So I would

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Speaker 3: say I agree that someone who loves it, I don't

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Speaker 3: really mind it, Like I like that it's become an

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Speaker 3: event like that whole thing that Netflix still and I

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Speaker 3: get why people hate it. I think it's kind of cool,

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Speaker 3: Like it's gonna be kind of crazy to log into

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Speaker 3: Netflix Christmas morning and putting on the games or whatever

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Speaker 3: pregame show they do do. So, yeah, Joe, definitely interesting

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Speaker 3: to hear your view of it of a guy that's

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Speaker 3: in this business. I'm an addict to football. They kind

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Speaker 3: of know they can put it anywhere out I'm going

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Speaker 3: to pay to get it. Is that most people's views

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Speaker 3: that if you're a dire fan, you don't really care.

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Speaker 3: You might bitch about it, but you don't really care.

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Speaker 2: Yeah. So I think there's two ways to look at it, right,

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Speaker 2: is what does it do for Netflix? And what does

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Speaker 2: it do for the NFL. The NFL is more interesting,

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Speaker 2: but let's start with Netflix. Netflix is massive, right, They've

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Speaker 2: reached a scale now where they have basically just as

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Speaker 2: many users or subscribers in the United States and Canada

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Speaker 2: as places like ESPN. Right, they have eighty something million subscribers,

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Speaker 2: which is tremendous scale. That's not even counting the two

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Speaker 2: hundred and seventy million subscribers or whatever it is internationally.

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Speaker 2: So it's a massive platform. Now they're able to go

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Speaker 2: and negotiate these deals because the networks know that they're

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Speaker 2: not losing or the leagues know that they're not losing

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Speaker 2: a tremendous amount of distribution. So I think that makes

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Speaker 2: a lot of sense. The money obviously helps there, but

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Speaker 2: for Netflix, you're basically guaranteed twenty to thirty potentially million

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Speaker 2: viewers for a live event. You're going to do two

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Speaker 2: of them on a Christmas Day. They now have an

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Speaker 2: ad supported tier, but the beautiful thing about football is

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Speaker 2: there's already ads built in, So whether you're on the

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Speaker 2: ad supported tier or not, you're going to be getting

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Speaker 2: served commercials. Those commercials, they're going to be able to

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Speaker 2: charge hundreds of thousands of dollars, probably around I don't know,

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Speaker 2: five hundred thousand dollars per thirty second slot. There's one

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Speaker 2: hundred slots. You do the math. They're going to make

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Speaker 2: close to their money back on just ads alone. Plus

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Speaker 2: it reduces churn for them. They're already at two percent,

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Speaker 2: which is an industry low. It'll get better than that,

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Speaker 2: and they're going to add subscribers. Now. They probably won't

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Speaker 2: add the three million subscribers that Peacock did, mostly because

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Speaker 2: they're already a popular service and a lot of people

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Speaker 2: have them, but it's going to help their business. The

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Speaker 2: interesting part to me, though, is like, why does the

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Speaker 2: NFL do this, right, we just talked about it. Could

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Speaker 2: it lead to fatigue and oversaturation? They probably could have

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Speaker 2: sold it to a network that they're already doing business with.

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Speaker 2: I think mostly though, that they want to be in

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Speaker 2: business with Netflix knowing what's coming down the road. So

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Speaker 2: we all know that they sign these the ten year

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Speaker 2: or eleven year deals whatever it was, for about ten

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Speaker 2: billion dollars a year in TV rights. The interesting part

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Speaker 2: about that, though, is that they're able to opt out

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Speaker 2: of those deals, and I think it's twenty twenty nine

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Speaker 2: or twenty thirty, they can opt out of those deals,

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Speaker 2: and what I think they're going to end up doing

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Speaker 2: is exactly that. I think they're going to end up

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Speaker 2: opting out of them. What we've seen with the NBA

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Speaker 2: specifically who's negotiating their rights right now, is that the

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Speaker 2: public market investors in the public market have essentially said

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Speaker 2: that it's better to overpay for rights than it is

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Speaker 2: to lose rights. Right if you're Warner Brothers, it's the

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Speaker 2: investors want you to overpay for the rights, even if

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Speaker 2: you're not going to make as much money, because it's

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Speaker 2: important to have live sports and you can monetize it

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Speaker 2: in different ways. It would be a disaster if their

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Speaker 2: affiliate fees on cable went down because they don't have NBA. Right. So,

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Speaker 2: I think what with the NFL is looking at is

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Speaker 2: saying that they're going to be able to multiply the

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Speaker 2: amount of money that they get by adding all these

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Speaker 2: distribution partners up in twenty twenty nine or twenty thirty.

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Speaker 2: And the reason for that is because they've continued to

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Speaker 2: create events, right, So think about Thanksgiving Day, Sunday Night Football,

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Speaker 2: Monday Night Football, Thursday Night Football, they do Saturday primetime

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Speaker 2: games during the holiday season. They obviously have the Playoffs,

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Speaker 2: which they've sold exclusively, the Super Bowl rotation Sunday ticket

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Speaker 2: which is also up. And then the biggest thing about

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Speaker 2: all of it is Roger Goodell has publicly said that

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Speaker 2: he wants to add an eighteenth game to the schedule.

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Speaker 2: The CBA is going to be renegotiated in twenty twenty nine,

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Speaker 2: which I don't think is a coincidence lines up with

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Speaker 2: the TV deal, right, So they're going to go to

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Speaker 2: market with this offering that is substantially better than what

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Speaker 2: the networks are buying today. Plus they're probably going to

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Speaker 2: hit the peak perfectly of where broadcast partners are willing

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Speaker 2: to pay maximum wise versus the digital companies kind of

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Speaker 2: equaling out. That's applying demand. So I think it's really

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Speaker 2: kind of like a chess move from the NFL of

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Speaker 2: saying we want to be in business with Netflix. We

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Speaker 2: think they're going to be an important bidder down the road.

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Speaker 2: Let's start with a smaller deal today, We'll see how

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Speaker 2: it goes, and potentially five years from now we could

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Speaker 2: be getting a lot more money from them on the

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Speaker 2: black side.

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Speaker 1: At this five years is tomorrow. It truly is, and

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Speaker 1: the conversations for that will probably start eighteen months at out.

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Speaker 1: So we're looking at let's say three years from now,

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Speaker 1: we're going to start seeing stories from your newsletter and

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Speaker 1: other people covering the business about the expectations for NFL rights.

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Speaker 1: The NBA is going to sign a deal with somebody,

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Speaker 1: some combination of ESPN, Amazon, NBC or Warner that will

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Speaker 1: be for seven billion dollars.

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Speaker 2: Almost three times what they get right now.

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Speaker 1: There's three times what they get right now. The NFL

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Speaker 1: is so far and beyond more valuable than the NBA.

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Speaker 1: You look at the franchises alone, like the value of

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Speaker 1: an NBA franchise is about a billion dollars less than

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Speaker 1: the NFL.

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Speaker 2: Well, just think about ratings, Chaed The ratings in the

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Speaker 2: NBA are essentially flat. They're stagnant over the last few years.

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Speaker 2: Regular season is essentially flat. Now they've tried to do

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Speaker 2: a few things to add things. But if you guys

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Speaker 2: think about maybe you've talked about this on the show before,

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Speaker 2: but Nilsen fundamentally changed the way that viewership is calculated

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Speaker 2: a few years ago, and that's why you've seen everything

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Speaker 2: kind of increasing over the years. It added a substantial

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Speaker 2: amount of out of home viewership data to the totals,

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Speaker 2: and the NFL everyone else has benefited from that, but

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Speaker 2: the NBA really has. So you could kind of make

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Speaker 2: an argument that the viewership is actually down compared to

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Speaker 2: where it was a couple of years ago. Now let's

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Speaker 2: say it's flat. They're going to get a three times

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Speaker 2: increase on a flat number. To your point, what does

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Speaker 2: that mean the NFL is worth? Right? If the NFL's

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Speaker 2: numbers are tremendously up and now they account for basically

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Speaker 2: all of the top one hundred top broadcast in the

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Speaker 2: United States every single year. To me, that seems much

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Speaker 2: more valuable than what the NBA is And if they're

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Speaker 2: getting a three x increase, you know, on a multiple

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Speaker 2: of the number, it won't be as much, but it's

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Speaker 2: going to be a significant more you know, dollar amount

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Speaker 2: than the NBA is going to get.

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Speaker 1: The NFL Draft had more first day viewers than any

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Speaker 1: game in the Stanley Cup Finals, any game in the

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Speaker 1: World Series, any game in the most recent NBA Finals.

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Speaker 1: Simon and I can not stop talking about the NFL.

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Speaker 1: It is we have turned this podcast essentially into an

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Speaker 1: NFL podcast, partially because that's what people are most interested

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Speaker 1: and it's also what Simon and I end up wanting

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Speaker 1: to talk about the most. I don't see any limit

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Speaker 1: to the NFL's ability to sell its product and capture

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Speaker 1: the attention and imagination of sports fans. What is your

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Speaker 1: take on a saturation point, tipping point inability for them

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Speaker 1: to sell more product.

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Speaker 2: Yeah, I really don't see it happening either. I mean,

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Speaker 2: people have been talking about this for decades. There's this

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Speaker 2: famous quote from Mark Cuban, I think it was probably

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Speaker 2: a decade ago at this point where he said the

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Speaker 2: line like pigs get fat, hogs get slaughtered or whatever

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Speaker 2: it was, and he was saying that the NFL was

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Speaker 2: getting hoggy because they were putting all these games on

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Speaker 2: broadcast television, And that was a decade ago, right, And

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Speaker 2: to our point earlier, the NFL is bigger and better

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Speaker 2: than ever before. And I think what we've seen is

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Speaker 2: that there was an appetite for the NFL twenty four

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Speaker 2: to seven, three hundred and sixty five from people in America,

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Speaker 2: and now it's growing internationally too. But there's a few

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Speaker 2: good examples of this. We just talked about the Draft.

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Speaker 2: The funny thing about the Draft is that the NFL

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Speaker 2: didn't really intend for it to become like this. I mean,

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Speaker 2: they certainly obviously wanted it to be big and people

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Speaker 2: to talk about it. But now they've developed this whole

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Speaker 2: thing where they go on the road every year and

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Speaker 2: they go to different cities and people are bidding to

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Speaker 2: host it like they would the super Bowl, which is

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Speaker 2: obviously a great thing for the NFL, but that was

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Speaker 2: really by mistake. I think it was Radio City Music

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Speaker 2: Hall they hosted like a Roquettes concert and told the

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Speaker 2: NFL that they wouldn't be able to do it the

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Speaker 2: weekend that they normally do it, and Roger Goodell in

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Speaker 2: the NFL were like, Okay, well we're just not gonna

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Speaker 2: do it here, then we'll just go somewhere else, which

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Speaker 2: is sort of an amazing story. But there's just so

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Speaker 2: many other examples, Like even yesterday, I'm sure you guys

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Speaker 2: saw the news Hard Knocks is doing the off season

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Speaker 2: now with the New York Giants this upcoming year. So

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Speaker 2: now we have an off season show, we have a

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Speaker 2: training camp show, and we have an in season show.

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Speaker 2: I'm not even really sure anyone was asking for that,

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Speaker 2: but they're certainly going to watch it, and there's a

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Speaker 2: reason why they're doing it. There's content twenty four to

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Speaker 2: seven three sixty five around the NFL, and I think

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Speaker 2: the numbers have proven over the years. I mean, I

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Speaker 2: think there's nine or ten games around Christmas Week this year, right,

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Speaker 2: so they can basically do whatever they want from a

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Speaker 2: saturation standpoint, and they haven't reached boundary yet of where

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Speaker 2: people are either complaining or the numbers are turning down

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Speaker 2: to a degree. Until that happens, I don't think it's

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Speaker 2: going to stop.

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Speaker 3: Yeah, it's a interesting point you make two where you

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Speaker 3: know the not that this sport's perfect. But I have

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Speaker 3: family from England and I go to England a lot,

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Speaker 3: and just seeing how in two thousand and four, if

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Speaker 3: I would try to explain to someone how big of

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Speaker 3: a deal Payton Manning and versus Tom Brady was no

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Speaker 3: one in England. I'm telling you no one at any

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Speaker 3: pub would understand it all, but they would know NBA.

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Speaker 3: If I talked anything Lebron James, people in that pub

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Speaker 3: would know it. Now it's I do think it's a

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Speaker 3: part of the expansion of I mean we talk Netflix.

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Speaker 3: That Netflix QB show also is a big deal because

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Speaker 3: people in other countries got to watch these guys behind

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Speaker 3: the scenes, these lives and what they put into it.

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Speaker 3: But I explain to my cousins over there, they don't

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Speaker 3: really get it. I think Americans get it where it's

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Speaker 3: the perfect sport that every game is a playoff game.

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Speaker 3: There's only sixteen games when we were growing up, now seventeen.

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Speaker 3: It's the export for that that it's once a week

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Speaker 3: and you can be on your phone with it and

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Speaker 3: you're not missing anything. Right, a five second place happens

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Speaker 3: and then you have forty seconds usually until the next play.

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Speaker 3: For my generation, people talk all the time. That was

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Speaker 3: a big deal because Bam, you're on your phone, You're

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Speaker 3: texting your buddy back about the play that just happened. Whatever.

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Speaker 3: You can't do that in hockey. You really can't do

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Speaker 3: that in a lot of other sports, right, they're moving

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Speaker 3: too quick. So your view, I totally agree with where

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Speaker 3: it's like, people always want things to be peaking right,

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Speaker 3: And like I always keep saying this is the Golden

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Speaker 3: Arra of football because it feels that way because we

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Speaker 3: have so many good quarterbacks, the most good quarterbacks in

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Speaker 3: my lifetime playing in the league right now. But like

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Speaker 3: you said, I'm just being naive.

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Speaker 2: Are not like you?

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Speaker 3: It is going to keep getting better, It's going to

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Speaker 3: keep getting bigger. Like like people you talk to, what

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Speaker 3: do they project out internationally? Because it is going to

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Speaker 3: keep spreading, right, And I mean, we're playing football in

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Speaker 3: Brazil this year. It's crazy to wrap her head around

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Speaker 3: that a football game will be played in a city

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Speaker 3: of Brazil.

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Speaker 2: What's your view on all of the Joe there teams

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Speaker 2: and cities across the world. Are intentionally thinking about NFL

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Speaker 2: games when building stadiums. Real Madrid is the perfect example.

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Speaker 2: What they did there with the pitch, which you know

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Speaker 2: is removable and sits underneath the stadium so they can

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Speaker 2: play NFL games is tremendous and transformative, and I think

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Speaker 2: that's going to continue to around other places of the world.

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Speaker 2: But it's not even people I talk to. I mean,

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Speaker 2: Roger Goodell has said this that he thinks there's going

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Speaker 2: to be a sixteen game or an eighteen game international

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Speaker 2: schedule while he's commissioner. Right, so we're talking about, you know,

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Speaker 2: maybe within the next five to at least the next decade,

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Speaker 2: we're going to be having a full slate that essentially

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Speaker 2: means one game every single week someone will be playing international.

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Speaker 2: Now this will be in London, Germany, Brazil, Mexico City, Spain, whatever,

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Speaker 2: but it means that you're going to wake up basically,

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Speaker 2: if it's in Europe, you're going to see a football

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Speaker 2: ga at nine thirty in the morning. Then you're going

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Speaker 2: to go to one, then you're going to go to

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Speaker 2: four thirty, then you're going to go to eight thirty.

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Speaker 2: Then the next day you're going to be at eight

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Speaker 2: thirty again, so it's going to be a full day.

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Speaker 2: They already own Sunday and it's only going to become

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Speaker 2: more popular because of that. And to your point, I

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Speaker 2: think a lot of you know, when I talk to

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Speaker 2: people across in different regions of the world that are

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Speaker 2: primary looking at other sports, they all fawn over the NFL.

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Speaker 2: The NFL is like the most ridiculous concept to them ever, right,

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Speaker 2: because no one else plays it in the world, really,

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Speaker 2: like it's only the United States, and it's commercialized to

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Speaker 2: no end here. I mean, if you think about the NFL,

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Speaker 2: one of the stats I love to use is that

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Speaker 2: the NFL will do about twenty billion dollars in annual

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Speaker 2: revenue last year or this year. That's more than the

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Speaker 2: top five soccer leagues Premier League, La Liga, Bundesliga, Siria

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Speaker 2: League one combined. Right, And if you think about how

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Speaker 2: big soccer is on a global scale, they have hundreds

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Speaker 2: of millions of more fans, billions of more fans than

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Speaker 2: the NFL does. Yet the NFL monetizes their property significantly

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Speaker 2: better than those leagues do. Now, there's some structural advantages,

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Speaker 2: and most importantly it's in the United States, which is

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Speaker 2: the world's biggest economy. But it just speaks to how

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Speaker 2: big of a business the NFL is, and that's something

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Speaker 2: that everyone looks at literally. You know. I've talked to

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Speaker 2: people at Barcelona and Chelsea and ac Milan in places

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Speaker 2: like that, and all of them talk about the NFL

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Speaker 2: and they talk about the MLS in the same instance.

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Speaker 2: Because in America the commercial is of sports is completely

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Speaker 2: different than you would see abroad.

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Speaker 1: You raise a really interesting point. It's something we touched

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Speaker 1: down a little bit before we came on the air.

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Speaker 1: There's a great story in Sportico this morning about Baine Capital.

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Speaker 1: In two thousand and five, the NHL was coming off

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Speaker 1: a lockout. It was a declining league. It was fading

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Speaker 1: to the NBA and the NFL, and Bain Capital put

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Speaker 1: together a presentation that basically said, we will buy the

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Speaker 1: entire NHL for four billion dollars. And every owner in

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Speaker 1: the league stood up and applauded at the presentation, and

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Speaker 1: they understood it to be a financial windfall for them. Ultimately,

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Speaker 1: they decided not to do it, not because it was

432
00:20:51,760 --> 00:20:55,040
Speaker 1: financially the right thing to do, but because they had

433
00:20:55,080 --> 00:20:58,600
Speaker 1: such an attachment to their individual franchises. They just didn't

434
00:20:58,600 --> 00:21:00,359
Speaker 1: want to let them go. Turns out, twenty yars later,

435
00:21:00,359 --> 00:21:03,240
Speaker 1: our generation later, it was the right call. The average

436
00:21:03,320 --> 00:21:05,679
Speaker 1: value of a franchise in the NHL is about one

437
00:21:05,720 --> 00:21:08,520
Speaker 1: point three billion dollars. Clearly the four billion would have

438
00:21:08,520 --> 00:21:11,439
Speaker 1: been a discount twenty years later, and they would have

439
00:21:11,440 --> 00:21:13,639
Speaker 1: operated it like MLS does, and sort of there was

440
00:21:13,640 --> 00:21:15,840
Speaker 1: an economy of scale there for the people buying it.

441
00:21:16,080 --> 00:21:20,560
Speaker 1: But the point is now private equity is becoming a

442
00:21:20,560 --> 00:21:23,840
Speaker 1: bigger and bigger part of investment in sports. We see

443
00:21:23,840 --> 00:21:25,479
Speaker 1: it in the NBA, we see it in the NHL.

444
00:21:25,560 --> 00:21:29,440
Speaker 1: We don't see it in the NFL, where it's prohibited still.

445
00:21:29,480 --> 00:21:31,600
Speaker 1: But I feel like private equity in the same way

446
00:21:31,680 --> 00:21:36,119
Speaker 1: that sort of in a much smaller scale streaming impacts

447
00:21:36,240 --> 00:21:41,920
Speaker 1: the sports fan experience. Why should fans care, Joe, if

448
00:21:41,960 --> 00:21:45,240
Speaker 1: private equity is investing in sports at the scale that

449
00:21:45,280 --> 00:21:48,240
Speaker 1: it's investing in it, because we have the biggest economy

450
00:21:48,280 --> 00:21:51,920
Speaker 1: world and in the world, and sports as a product

451
00:21:52,440 --> 00:21:53,600
Speaker 1: seems to have no limit.

452
00:21:54,640 --> 00:21:56,520
Speaker 2: So there's a few different points to this. I think

453
00:21:57,119 --> 00:21:59,240
Speaker 2: mainly the NFL is going to prove it at some point.

454
00:21:59,240 --> 00:22:01,240
Speaker 2: There's reports that it could happen as early as next

455
00:22:01,240 --> 00:22:03,480
Speaker 2: week when they vote on it, but so definitely within

456
00:22:03,520 --> 00:22:05,800
Speaker 2: the next couple of years, I would say for sure

457
00:22:05,840 --> 00:22:08,240
Speaker 2: there's going to be private equity investors within the NFL.

458
00:22:08,600 --> 00:22:10,719
Speaker 2: And the main reason for this, why the NBA did

459
00:22:10,760 --> 00:22:12,320
Speaker 2: it and why some other leagues have done it too,

460
00:22:12,840 --> 00:22:15,480
Speaker 2: is sports teams are just getting too expensive for individuals.

461
00:22:15,560 --> 00:22:18,440
Speaker 2: Right if you think about the owners, there's certainly enough

462
00:22:18,440 --> 00:22:20,000
Speaker 2: billionaires in the world that want to buy a sports

463
00:22:20,040 --> 00:22:21,639
Speaker 2: team where that's not really going to be a problem

464
00:22:21,720 --> 00:22:24,199
Speaker 2: right now. One of the bigger problems, though specifically with

465
00:22:24,240 --> 00:22:28,040
Speaker 2: the NFL, is minority investments. The problem with minority investments

466
00:22:28,080 --> 00:22:29,840
Speaker 2: is if you take a team that's three billion dollars,

467
00:22:29,880 --> 00:22:31,960
Speaker 2: a ten percent stake would be three hundred million dollars.

468
00:22:32,000 --> 00:22:33,720
Speaker 2: Maybe you get a little bit of a discount twenty

469
00:22:33,760 --> 00:22:35,800
Speaker 2: thirty percent that would normally be there for an investor,

470
00:22:36,320 --> 00:22:39,760
Speaker 2: but you're now paying two hundred and fifty million dollars

471
00:22:39,800 --> 00:22:42,960
Speaker 2: for season tickets, right like, you don't get to do anything.

472
00:22:43,320 --> 00:22:45,359
Speaker 2: And I think there's a problem with that where your

473
00:22:45,400 --> 00:22:47,080
Speaker 2: money's locked up for a long period of time, there's

474
00:22:47,080 --> 00:22:49,119
Speaker 2: no liquidity, and you get nothing out of it. So

475
00:22:49,400 --> 00:22:51,320
Speaker 2: there's not a ton of individuals that one have the

476
00:22:51,320 --> 00:22:53,240
Speaker 2: money to do that and two the willingness to do

477
00:22:53,280 --> 00:22:55,960
Speaker 2: it as well. So private equity comes in there. And

478
00:22:56,000 --> 00:22:59,119
Speaker 2: if you think about that divide, it's perfect for private equity,

479
00:22:59,240 --> 00:23:00,880
Speaker 2: right because what you do. You go and you raise

480
00:23:00,920 --> 00:23:03,399
Speaker 2: billions of dollars from investors. You put in an asset

481
00:23:03,440 --> 00:23:05,880
Speaker 2: that's basically guaranteed at this point to increase in value

482
00:23:05,920 --> 00:23:07,560
Speaker 2: or has at least shown historically to be able to

483
00:23:07,600 --> 00:23:10,280
Speaker 2: increase in value over a long time horizon, and you're

484
00:23:10,280 --> 00:23:12,720
Speaker 2: able to charge two and twenty on that, which is

485
00:23:12,760 --> 00:23:14,959
Speaker 2: amazing because your money's locked up, you know it's going

486
00:23:15,000 --> 00:23:16,399
Speaker 2: to go up, no one's going to touch it, and

487
00:23:16,440 --> 00:23:18,400
Speaker 2: you're able to charge a fee. That's like the best

488
00:23:18,400 --> 00:23:20,679
Speaker 2: business model ever for private equity funds. So it solves

489
00:23:20,720 --> 00:23:23,520
Speaker 2: both problems with the sports teams, their owners, the leagues,

490
00:23:23,760 --> 00:23:26,520
Speaker 2: but also the private equity. There's immense interest from there.

491
00:23:26,560 --> 00:23:28,560
Speaker 2: We've seen that in the NBA, but there's also a

492
00:23:28,600 --> 00:23:30,880
Speaker 2: bunch of other things when you think about the fans

493
00:23:30,960 --> 00:23:33,480
Speaker 2: that go into it. One of the good examples I

494
00:23:33,560 --> 00:23:35,840
Speaker 2: like to use, and this wasn't necessarily private equity funded,

495
00:23:35,840 --> 00:23:37,200
Speaker 2: but it can be in the future, and I think

496
00:23:37,240 --> 00:23:39,640
Speaker 2: is what people will do is we've seen this huge

497
00:23:39,640 --> 00:23:41,880
Speaker 2: shift now where a lot of the owners are thinking

498
00:23:41,920 --> 00:23:44,720
Speaker 2: about real sports teams as real estate companies. Right. They're

499
00:23:44,760 --> 00:23:47,560
Speaker 2: just kind of trying to build venues around their stadiums

500
00:23:47,560 --> 00:23:52,320
Speaker 2: and arenas to maximize revenue and through real estate. And

501
00:23:52,359 --> 00:23:54,760
Speaker 2: the best example of this, I think is the Battery

502
00:23:54,800 --> 00:23:56,840
Speaker 2: in Atlanta. So the Atlanta Braves a number of years

503
00:23:56,840 --> 00:24:01,159
Speaker 2: ago moved from downtown Atlanta out into the suburbs. It's

504
00:24:01,160 --> 00:24:03,680
Speaker 2: about twenty miles away or twenty minutes away, and they

505
00:24:03,760 --> 00:24:05,840
Speaker 2: opened up the Battery, which is essentially just a mixed

506
00:24:05,880 --> 00:24:09,720
Speaker 2: use development around the city and there's hotels, restaurants, conference centers,

507
00:24:09,720 --> 00:24:14,240
Speaker 2: office buildings, all that stuff. That space right now makes

508
00:24:14,240 --> 00:24:18,160
Speaker 2: sixty million dollars a year for the team, and that's

509
00:24:18,200 --> 00:24:19,719
Speaker 2: a lot of money. First and foremost, I think it's

510
00:24:19,760 --> 00:24:22,760
Speaker 2: their third biggest revenue line item on their expense, on

511
00:24:22,840 --> 00:24:27,280
Speaker 2: their operating budget. But more importantly, this money doesn't have

512
00:24:27,320 --> 00:24:29,520
Speaker 2: to be shared with other teams, right, so you have

513
00:24:29,560 --> 00:24:32,400
Speaker 2: a structural advantage because it's local revenue that you get

514
00:24:32,440 --> 00:24:35,000
Speaker 2: to keep yourself. So they do a really good job

515
00:24:35,000 --> 00:24:36,600
Speaker 2: of it. The Warriors have done a good job. The

516
00:24:36,640 --> 00:24:38,680
Speaker 2: Milwaukee Bucks have done a good job, The Saint Louis

517
00:24:38,720 --> 00:24:40,880
Speaker 2: Cardinals have done a good job, the Patriots have done

518
00:24:40,880 --> 00:24:43,160
Speaker 2: a good job. Like all these teams are now doing it,

519
00:24:43,359 --> 00:24:45,119
Speaker 2: and I think that's going to become more popular. And

520
00:24:45,160 --> 00:24:47,480
Speaker 2: I also think it's something where private equity could step

521
00:24:47,520 --> 00:24:50,439
Speaker 2: in and say, hey, we have experience doing this and

522
00:24:50,480 --> 00:24:52,160
Speaker 2: some real estate deals that we've done in the past,

523
00:24:52,200 --> 00:24:54,520
Speaker 2: but we can also provide investment capital that you need

524
00:24:54,560 --> 00:24:57,120
Speaker 2: to go build this out, rather than taking on additional

525
00:24:57,240 --> 00:24:59,440
Speaker 2: LPs to go do that and raising money or doing

526
00:24:59,440 --> 00:25:01,440
Speaker 2: capital calls or things like that. So there's a few

527
00:25:01,440 --> 00:25:04,120
Speaker 2: different things where I think it could benefit the fan,

528
00:25:04,720 --> 00:25:07,000
Speaker 2: but ultimately I think the most obvious thing is that

529
00:25:07,400 --> 00:25:09,199
Speaker 2: there's not enough owners. If the prices want to keep

530
00:25:09,200 --> 00:25:11,520
Speaker 2: going up, you have to add more demand, and the

531
00:25:11,560 --> 00:25:13,280
Speaker 2: best place to do that is from these deep pocket

532
00:25:13,320 --> 00:25:14,800
Speaker 2: private equity investors.

533
00:25:16,080 --> 00:25:19,239
Speaker 1: A buddy of mine used to be a banker and

534
00:25:19,920 --> 00:25:22,480
Speaker 1: he worked on a deal for someone to buy an

535
00:25:22,560 --> 00:25:25,280
Speaker 1: NFL team, and I once asked him, it's one of

536
00:25:25,359 --> 00:25:26,240
Speaker 1: my favorite stories.

537
00:25:26,880 --> 00:25:28,320
Speaker 2: I once asked him, So.

538
00:25:28,320 --> 00:25:33,359
Speaker 1: What happens like when someone buys the team, how do

539
00:25:33,400 --> 00:25:36,440
Speaker 1: they pay for it, and he's like, you get a check.

540
00:25:37,440 --> 00:25:41,640
Speaker 1: And I'm like, so you just get a check? He goes, yeah,

541
00:25:41,840 --> 00:25:45,720
Speaker 1: I got a check for a billion dollars. Like, imagine

542
00:25:45,800 --> 00:25:49,960
Speaker 1: drawing that from your account. You're writing a check for

543
00:25:50,119 --> 00:25:53,280
Speaker 1: a billion dollars to buy an NFL team and just

544
00:25:53,600 --> 00:25:57,160
Speaker 1: handing it over someone. By the way, that guy started

545
00:25:57,200 --> 00:26:01,199
Speaker 1: a private equity fund and is now raising money to

546
00:26:01,320 --> 00:26:06,440
Speaker 1: invest in teams. Simon, speaking of money, can you name

547
00:26:06,480 --> 00:26:08,959
Speaker 1: the fastest growing ticketing app in the United States?

548
00:26:09,560 --> 00:26:10,359
Speaker 3: Game Time?

549
00:26:11,000 --> 00:26:13,359
Speaker 1: That's right, It's game Time. I love game Time for

550
00:26:13,400 --> 00:26:16,520
Speaker 1: two reasons. First, they still sponsored their show. Second, I

551
00:26:16,600 --> 00:26:19,640
Speaker 1: use game Time all the time. They have amazing last

552
00:26:19,640 --> 00:26:23,200
Speaker 1: minute deals, including on pro and college sports. Speaking of which,

553
00:26:23,280 --> 00:26:26,920
Speaker 1: I'm using game Time right now. I'm opening the app

554
00:26:26,920 --> 00:26:30,800
Speaker 1: from my house here in Central Connecticut. Guess what. I

555
00:26:31,000 --> 00:26:35,680
Speaker 1: could go to see the Yankees for seventy bucks, or

556
00:26:37,000 --> 00:26:41,080
Speaker 1: I could go see Caitlin Clark and the Indiana Fever

557
00:26:41,160 --> 00:26:42,840
Speaker 1: take on the New York Liberty for less than one

558
00:26:42,920 --> 00:26:47,760
Speaker 1: hundred bucks. This weekend, no matter where you live, download

559
00:26:47,760 --> 00:26:50,160
Speaker 1: the game Time app get out have some fun this week.

560
00:26:50,200 --> 00:26:53,359
Speaker 1: You deserve it. If you redeem code favorites for twenty

561
00:26:53,400 --> 00:26:58,040
Speaker 1: dollars off. You can redeem code favorites for twenty dollars

562
00:26:58,040 --> 00:27:02,160
Speaker 1: off your first purchase. Apply again. Just download the game

563
00:27:02,160 --> 00:27:05,080
Speaker 1: time app. Use code favorites for twenty dollars off your

564
00:27:05,119 --> 00:27:08,560
Speaker 1: first purchase. Last minute Ticket's lowest prices guaranteed.

565
00:27:10,400 --> 00:27:10,760
Speaker 2: Joe.

566
00:27:11,280 --> 00:27:13,600
Speaker 1: The elephant in the room when you're on a podcast

567
00:27:13,640 --> 00:27:17,040
Speaker 1: that is focused on betting is the impact all of

568
00:27:17,080 --> 00:27:21,320
Speaker 1: these betting companies have had on the sports business, the

569
00:27:21,359 --> 00:27:27,119
Speaker 1: sports media business. It's not discussed as outwardly in terms

570
00:27:27,200 --> 00:27:30,600
Speaker 1: of the tangible impact that has on rights, the tangible

571
00:27:30,640 --> 00:27:34,399
Speaker 1: impact that has on the economy of sports. Everyone just

572
00:27:34,440 --> 00:27:37,720
Speaker 1: sort of says, yeah, people are watching more sports. The

573
00:27:37,720 --> 00:27:39,920
Speaker 1: sports betting companies and sports betting as a business has

574
00:27:39,960 --> 00:27:44,600
Speaker 1: made it more valuable. Give me your take on what

575
00:27:44,680 --> 00:27:47,639
Speaker 1: you think the tangible value of that is in the

576
00:27:47,680 --> 00:27:49,680
Speaker 1: context of the conversation we're having for rights.

577
00:27:50,920 --> 00:27:52,919
Speaker 2: I think there is a tangible impact, for sure. The

578
00:27:52,920 --> 00:27:55,880
Speaker 2: difficulty is measuring what that actually is. Right. The easiest

579
00:27:55,920 --> 00:27:58,360
Speaker 2: answer is that if you bet on a game, you're

580
00:27:58,359 --> 00:28:00,600
Speaker 2: probably going to watch that game, and you're more likely

581
00:28:00,640 --> 00:28:02,480
Speaker 2: to watch that game. So I think that it's certainly

582
00:28:02,920 --> 00:28:04,960
Speaker 2: impacted the NFL and other things like that. But I

583
00:28:04,960 --> 00:28:07,679
Speaker 2: also think it's had an impact on smaller sports properties

584
00:28:07,920 --> 00:28:10,320
Speaker 2: that maybe people didn't go and watch previously that now

585
00:28:10,320 --> 00:28:12,679
Speaker 2: they're betting on and will go watch. So from like

586
00:28:12,720 --> 00:28:15,879
Speaker 2: a percentage standpoint, it probably impacts smaller properties to an

587
00:28:15,880 --> 00:28:19,639
Speaker 2: outsized degree. But to the larger point, people are betting

588
00:28:19,640 --> 00:28:21,920
Speaker 2: more now than they ever have. It's becoming legal and

589
00:28:22,000 --> 00:28:24,399
Speaker 2: more and more states every year. It feels like and

590
00:28:24,480 --> 00:28:26,320
Speaker 2: it's going to be. It is big business, and it's

591
00:28:26,320 --> 00:28:28,320
Speaker 2: going to become a bigger business. And I think that

592
00:28:28,359 --> 00:28:31,520
Speaker 2: the leagues are currently trying to figure out how best

593
00:28:31,560 --> 00:28:35,080
Speaker 2: to maximize that exposure by partnering with betting companies and

594
00:28:35,080 --> 00:28:38,320
Speaker 2: getting a piece of the pie while also not overdoing

595
00:28:38,360 --> 00:28:42,080
Speaker 2: it right. And a good example of this is the

596
00:28:42,200 --> 00:28:44,160
Speaker 2: NBA a few months ago decided that they were going

597
00:28:44,240 --> 00:28:48,600
Speaker 2: to build out functionality within their app where you can

598
00:28:48,800 --> 00:28:51,200
Speaker 2: bet live on games, right, so you see the odds

599
00:28:51,240 --> 00:28:53,360
Speaker 2: right within the broadcast, you click on it, it sends you

600
00:28:53,360 --> 00:28:54,800
Speaker 2: through to one of the providers with one of those

601
00:28:54,800 --> 00:28:58,000
Speaker 2: sportsbooks and you place the bet, And like that felt

602
00:28:58,000 --> 00:29:00,000
Speaker 2: like one of those things to me that was probably

603
00:29:00,320 --> 00:29:02,240
Speaker 2: like just crossing that line of like no one really

604
00:29:02,280 --> 00:29:04,080
Speaker 2: asked for this, why are we doing this? And to

605
00:29:04,120 --> 00:29:05,600
Speaker 2: their credit, right, you had to turn it on, You

606
00:29:05,600 --> 00:29:07,120
Speaker 2: could turn it off. You didn't have to have it

607
00:29:07,160 --> 00:29:09,080
Speaker 2: on the screen. But I think those are like the

608
00:29:09,120 --> 00:29:11,240
Speaker 2: examples that we'll see going forward of how do you

609
00:29:11,360 --> 00:29:13,520
Speaker 2: partner with some of these sports betting companies and make

610
00:29:13,560 --> 00:29:15,280
Speaker 2: sure you know, the NFL loves to do this. They

611
00:29:15,280 --> 00:29:16,719
Speaker 2: want to make sure that if you're working with them,

612
00:29:16,800 --> 00:29:19,320
Speaker 2: they get a piece of the pot. But how do

613
00:29:19,360 --> 00:29:22,440
Speaker 2: you do that in a tasteful way? And I think

614
00:29:23,560 --> 00:29:25,240
Speaker 2: another good example of this is like what all these

615
00:29:25,240 --> 00:29:27,440
Speaker 2: sports leagues have done with Fanatics. Right, if you think

616
00:29:27,480 --> 00:29:31,040
Speaker 2: about Fanatics. People love to complain about fanatics online, but

617
00:29:31,120 --> 00:29:32,840
Speaker 2: none of these leagues are ever going to switch from

618
00:29:32,840 --> 00:29:35,160
Speaker 2: Fanatics because they all own equity in Fanatics and that

619
00:29:35,240 --> 00:29:37,680
Speaker 2: money has gone up over the last number of years. Right,

620
00:29:37,680 --> 00:29:40,800
Speaker 2: So it was like this genius kind of decision and

621
00:29:40,840 --> 00:29:44,120
Speaker 2: fundraising by Ruben and all those guys at Fanatics. And

622
00:29:44,160 --> 00:29:46,040
Speaker 2: I think that's what these leagues are now trying to

623
00:29:46,040 --> 00:29:48,640
Speaker 2: figure out, is like, if you're the NFL, you have

624
00:29:48,680 --> 00:29:51,400
Speaker 2: equity in data providers, you have equity in the commerce companies,

625
00:29:51,440 --> 00:29:54,680
Speaker 2: you have equity in Noble who did the uniforms for

626
00:29:54,720 --> 00:29:57,480
Speaker 2: the NFL combine, Like, those are the agreements that they're

627
00:29:57,480 --> 00:30:00,400
Speaker 2: really looking for to be able to maximize their share

628
00:30:00,600 --> 00:30:02,720
Speaker 2: of the value that they're bringing to the table. Right,

629
00:30:02,760 --> 00:30:05,240
Speaker 2: Why would you just allow one of these sports betting

630
00:30:05,240 --> 00:30:09,400
Speaker 2: companies to come in and monetize your content without you

631
00:30:09,440 --> 00:30:11,880
Speaker 2: getting a share of it. And it feels like that's

632
00:30:11,920 --> 00:30:13,560
Speaker 2: going to be the discussion over the next few years

633
00:30:13,560 --> 00:30:16,479
Speaker 2: of like how they navigate that space versus more just

634
00:30:16,680 --> 00:30:19,040
Speaker 2: people are betting on games, the sportsbooks are making a

635
00:30:19,080 --> 00:30:19,600
Speaker 2: lot of money.

636
00:30:20,320 --> 00:30:23,560
Speaker 3: Now, are the players and all these leagues benefit from

637
00:30:23,600 --> 00:30:26,480
Speaker 3: this money yet or is this still just the owners

638
00:30:26,480 --> 00:30:29,640
Speaker 3: getting all the money where you know, the players aren't.

639
00:30:30,440 --> 00:30:32,640
Speaker 3: Maybe they don't aren't too keen to what's happening and

640
00:30:32,680 --> 00:30:35,680
Speaker 3: how much everything's shifted, or maybe they just don't know

641
00:30:35,680 --> 00:30:37,360
Speaker 3: what to do because, like you just said, this is

642
00:30:37,440 --> 00:30:41,440
Speaker 3: so much money or into these leagues. It's not overnight, right,

643
00:30:41,480 --> 00:30:43,680
Speaker 3: this has been a slow burn these last couple of years.

644
00:30:43,760 --> 00:30:46,440
Speaker 3: So are the players getting any kickback and these different

645
00:30:46,480 --> 00:30:49,480
Speaker 3: leagues or is that still not really you really can't

646
00:30:49,520 --> 00:30:50,080
Speaker 3: tell yet.

647
00:30:50,280 --> 00:30:53,920
Speaker 2: Well, they're definitely getting some kickback because basically all the

648
00:30:54,000 --> 00:30:56,520
Speaker 2: leagues at this point have signed sports betting sponsorships and

649
00:30:56,520 --> 00:30:58,640
Speaker 2: get paid money from it. And if you think about

650
00:30:58,640 --> 00:31:01,200
Speaker 2: the big four sports leagues, they have revenue sharing agreements

651
00:31:01,240 --> 00:31:03,360
Speaker 2: with the players, so the players get fifty percent, give

652
00:31:03,440 --> 00:31:06,120
Speaker 2: or take of any dollars that the league makes. So

653
00:31:06,400 --> 00:31:07,520
Speaker 2: if they go out and they sign a deal for

654
00:31:07,560 --> 00:31:10,280
Speaker 2: one hundred million dollars, the players get fifty million of that,

655
00:31:10,400 --> 00:31:13,040
Speaker 2: which is great and I think part of the reason

656
00:31:13,080 --> 00:31:15,400
Speaker 2: why they're ultimately okay with a lot of this stuff.

657
00:31:15,880 --> 00:31:18,320
Speaker 2: The thing that watch though is like scandal wise, it

658
00:31:18,320 --> 00:31:19,480
Speaker 2: feels like there's one every.

659
00:31:19,320 --> 00:31:21,640
Speaker 3: Week now and that's all trying to get to.

660
00:31:21,840 --> 00:31:24,000
Speaker 2: Yeah, like it's only going to become more popular though, right,

661
00:31:24,120 --> 00:31:27,360
Speaker 2: Like you're putting this stuff in people's face. And granted,

662
00:31:27,400 --> 00:31:30,040
Speaker 2: like I'm pro legalization, I think it's great. I think

663
00:31:30,080 --> 00:31:31,720
Speaker 2: people should have the ability to pick and choose what

664
00:31:31,760 --> 00:31:33,800
Speaker 2: they want to do. I always saw it as sort

665
00:31:33,840 --> 00:31:35,719
Speaker 2: of like a low form of entertainment, right if you're

666
00:31:35,760 --> 00:31:37,959
Speaker 2: betting a responsible amount of money on a game, you're

667
00:31:38,000 --> 00:31:40,400
Speaker 2: watching the game with friends, you're talking about it great fun.

668
00:31:40,560 --> 00:31:42,440
Speaker 2: There's obviously people that take it a little bit too far,

669
00:31:42,480 --> 00:31:46,320
Speaker 2: in players, specifically who can't control what they're doing and

670
00:31:46,960 --> 00:31:48,520
Speaker 2: you know, do things that they're not supposed to be doing,

671
00:31:48,640 --> 00:31:50,800
Speaker 2: so I think that's only going to become more popular.

672
00:31:50,840 --> 00:31:53,800
Speaker 2: Greed is obviously something that's been around for a long

673
00:31:53,880 --> 00:31:58,680
Speaker 2: long time. But to your point, like the players, they

674
00:31:58,680 --> 00:32:01,000
Speaker 2: should be okay with this stuff because they're going to

675
00:32:01,080 --> 00:32:02,440
Speaker 2: make money on it. And it's the same reason why

676
00:32:02,480 --> 00:32:04,800
Speaker 2: I talk about the NFL they're going to be okay

677
00:32:04,800 --> 00:32:08,400
Speaker 2: with an eighteenth game as well, because for every Patrick

678
00:32:08,440 --> 00:32:10,560
Speaker 2: Mahomes in the league that doesn't need any more money,

679
00:32:10,760 --> 00:32:13,520
Speaker 2: there's fifty guys that are on practice squad and want

680
00:32:13,520 --> 00:32:15,800
Speaker 2: to make more money, and the union is responsible for

681
00:32:15,840 --> 00:32:18,720
Speaker 2: all these guys, so they end up negotiating deals that

682
00:32:18,800 --> 00:32:21,840
Speaker 2: ultimately bring in the most money in spite of player

683
00:32:21,960 --> 00:32:24,160
Speaker 2: safety or things that maybe the star players don't want

684
00:32:24,160 --> 00:32:26,400
Speaker 2: to do. So with gambling, it's the same thing of

685
00:32:26,440 --> 00:32:29,560
Speaker 2: where these unions are going to negotiate deals where they

686
00:32:29,600 --> 00:32:31,800
Speaker 2: get a higher percentage of these rights going forward or

687
00:32:31,840 --> 00:32:34,320
Speaker 2: of these deals going forward, and the leagues are going

688
00:32:34,360 --> 00:32:36,400
Speaker 2: to continue to monetize it in whatever aspect they can

689
00:32:36,440 --> 00:32:37,360
Speaker 2: to make the most money.

690
00:32:37,920 --> 00:32:42,560
Speaker 1: It does feel like a spot where players can use

691
00:32:42,680 --> 00:32:46,880
Speaker 1: leverage with the betting companies. It's a spot where the

692
00:32:46,880 --> 00:32:50,720
Speaker 1: players can use their leverage because of betting in ways

693
00:32:50,760 --> 00:32:54,200
Speaker 1: that are different than they can do with even apparel

694
00:32:54,960 --> 00:33:00,200
Speaker 1: or with media rights, which is there's a lot of

695
00:33:00,200 --> 00:33:06,800
Speaker 1: animosity towards the players from amateur betters who don't really

696
00:33:06,920 --> 00:33:09,520
Speaker 1: know how to manage it right. We hear all the

697
00:33:09,520 --> 00:33:13,720
Speaker 1: time from the players about the player props. We hear

698
00:33:13,800 --> 00:33:17,760
Speaker 1: from the players about totals, We hear it about sides.

699
00:33:18,840 --> 00:33:21,320
Speaker 1: Get They are hearing about it, and they've heard about

700
00:33:21,320 --> 00:33:23,840
Speaker 1: it for years because of fantasy too. But this all

701
00:33:23,880 --> 00:33:26,400
Speaker 1: of a sudden feels like a place where players could

702
00:33:26,520 --> 00:33:31,000
Speaker 1: use leverage to negotiate potentially better terms for themselves, specifically

703
00:33:31,000 --> 00:33:33,720
Speaker 1: when it comes to betting the NBA wants, if the

704
00:33:33,800 --> 00:33:38,160
Speaker 1: NFL wants to add an eighteenth game, then the players

705
00:33:38,560 --> 00:33:40,720
Speaker 1: in twenty twenty nine should be saying, okay, when it

706
00:33:40,720 --> 00:33:43,320
Speaker 1: comes to betting deals, we want sixty percent, not fifty percent.

707
00:33:44,400 --> 00:33:46,880
Speaker 2: Yeah. Yeah, And you know, one of the things to

708
00:33:46,960 --> 00:33:50,000
Speaker 2: keep in mind, I was talking to a very prominent

709
00:33:50,040 --> 00:33:53,040
Speaker 2: investor out in LA who actually used to own part

710
00:33:53,080 --> 00:33:55,560
Speaker 2: of an NBA team, and he was saying that the

711
00:33:55,640 --> 00:33:58,080
Speaker 2: thing that concerns him the most specifically with the NBA,

712
00:33:58,160 --> 00:34:01,000
Speaker 2: but other sports league as well, is is going forward,

713
00:34:01,320 --> 00:34:03,080
Speaker 2: you almost have to build out in your models as

714
00:34:03,080 --> 00:34:05,880
Speaker 2: an owner, the chance that some of these players may

715
00:34:05,920 --> 00:34:10,040
Speaker 2: get phantom equity enfranchises right and in the league overall. Now,

716
00:34:10,080 --> 00:34:13,240
Speaker 2: the NBA has taken a step towards this with allowing

717
00:34:13,239 --> 00:34:15,719
Speaker 2: players to invest through a fund in different teams. So

718
00:34:15,719 --> 00:34:17,400
Speaker 2: the same way a private equity firm could go in

719
00:34:17,440 --> 00:34:19,560
Speaker 2: and buy five percent of a team, they're opening a

720
00:34:19,600 --> 00:34:22,319
Speaker 2: fund where players can invest their own money and you know,

721
00:34:22,840 --> 00:34:25,759
Speaker 2: appreciate or join the appreciation of the teams. But I

722
00:34:25,800 --> 00:34:29,279
Speaker 2: think to the larger point, what we've seen is I mean,

723
00:34:29,320 --> 00:34:31,360
Speaker 2: if you look at Live Golf, that's a good example

724
00:34:31,400 --> 00:34:33,480
Speaker 2: of an institution that just came in with basically an

725
00:34:33,520 --> 00:34:36,839
Speaker 2: unlimited budget and offered players something that the outstanding lead

726
00:34:36,960 --> 00:34:39,359
Speaker 2: or the existing league couldn't compete with. Right the PGA Tour,

727
00:34:39,719 --> 00:34:41,040
Speaker 2: you don't get paid un lets you show up and

728
00:34:41,040 --> 00:34:43,399
Speaker 2: you play well, and Live Golf, you get guaranteed money

729
00:34:43,440 --> 00:34:45,960
Speaker 2: because they're not worried about making a profit. Now, could

730
00:34:46,000 --> 00:34:48,279
Speaker 2: that happen in the NBA. You know, I doubt it,

731
00:34:48,320 --> 00:34:50,719
Speaker 2: but it certainly could to some degree but I think

732
00:34:50,760 --> 00:34:54,759
Speaker 2: the bigger concern is what happens from a CBA perspective

733
00:34:55,320 --> 00:34:58,319
Speaker 2: if the NFL or the NBA or leagues like that

734
00:34:59,200 --> 00:35:01,719
Speaker 2: want to play hard ball and the players and their

735
00:35:01,800 --> 00:35:04,760
Speaker 2: union aren't up for because I think specifically with the NFL,

736
00:35:04,960 --> 00:35:07,080
Speaker 2: a lot of people have criticized what the union has

737
00:35:07,120 --> 00:35:10,840
Speaker 2: done over the years, but even just being at fifty

738
00:35:10,840 --> 00:35:13,279
Speaker 2: to fifty revenue sharing, I think is a tremendous kind

739
00:35:13,320 --> 00:35:16,520
Speaker 2: of upside. The unfortunate part is that the owners are

740
00:35:16,520 --> 00:35:18,319
Speaker 2: always going to be on top of this right they

741
00:35:18,400 --> 00:35:20,759
Speaker 2: own equity in the franchises, and there's a salary cap,

742
00:35:20,840 --> 00:35:22,840
Speaker 2: so that's going to continue to rise in parody with

743
00:35:22,840 --> 00:35:25,640
Speaker 2: the overall revenue of the league. But it also places

744
00:35:25,680 --> 00:35:28,040
Speaker 2: a cap on player earnings. So we're seeing the same

745
00:35:28,080 --> 00:35:29,879
Speaker 2: thing in the Premier League today of like they're trying

746
00:35:29,920 --> 00:35:33,359
Speaker 2: to fight the salary cap because there's entities and institutions

747
00:35:33,360 --> 00:35:36,680
Speaker 2: and people that will spend money if given the chance.

748
00:35:36,760 --> 00:35:39,560
Speaker 2: And if you look at the NFL, it's a very

749
00:35:39,560 --> 00:35:42,359
Speaker 2: small percentage of about fifty percent of the money get

750
00:35:42,360 --> 00:35:44,640
Speaker 2: spent on the players for teams in the Premier League,

751
00:35:44,680 --> 00:35:46,799
Speaker 2: it's like ninety percent for the top teams, right, they're

752
00:35:46,800 --> 00:35:49,919
Speaker 2: spending eighty ninety percent of overall income on players every

753
00:35:49,960 --> 00:35:53,160
Speaker 2: single year. So the US and specifically the NFL, has

754
00:35:53,160 --> 00:35:56,120
Speaker 2: the best business model in sports where you have this

755
00:35:56,320 --> 00:35:59,319
Speaker 2: limited inventory, every game is super important. They're all sold

756
00:35:59,360 --> 00:36:01,680
Speaker 2: at the broadcast level. You have the sports betting and

757
00:36:01,719 --> 00:36:03,880
Speaker 2: everything else. There's reverse drafts, so there's you know, new

758
00:36:03,880 --> 00:36:07,840
Speaker 2: competition every single year, and I think sports betting, to

759
00:36:07,880 --> 00:36:10,239
Speaker 2: your point, is just an extension of that.

760
00:36:13,239 --> 00:36:19,799
Speaker 1: The NBA recently had the Jonte Porter controversy scandal where

761
00:36:20,680 --> 00:36:24,239
Speaker 1: he's been banned from the league for betting on his

762
00:36:24,280 --> 00:36:28,480
Speaker 1: own player props. Now there are conversations about how to

763
00:36:28,520 --> 00:36:33,319
Speaker 1: manage that, how to manage player props individually. This isn't

764
00:36:33,520 --> 00:36:36,960
Speaker 1: really a business question, although I feel like it's related

765
00:36:37,040 --> 00:36:41,239
Speaker 1: to the business in that if you are a business

766
00:36:41,640 --> 00:36:48,680
Speaker 1: trying to manage the fine line between conflict integrity and

767
00:36:49,280 --> 00:36:53,600
Speaker 1: maximizing revenue, how do you, as someone who is in

768
00:36:53,640 --> 00:36:59,480
Speaker 1: this space and very attuned to optics, help them manage

769
00:36:59,480 --> 00:37:00,239
Speaker 1: this situation.

770
00:37:01,239 --> 00:37:05,279
Speaker 2: It's zero tolerance, right, and that's why Johntay Porter's ban

771
00:37:05,520 --> 00:37:07,560
Speaker 2: was the easiest ban of all time. He's a two

772
00:37:07,600 --> 00:37:10,880
Speaker 2: way player, He's not important to the overall league. He

773
00:37:10,960 --> 00:37:12,520
Speaker 2: bet on games, he bet on games that he was

774
00:37:12,560 --> 00:37:14,760
Speaker 2: playing in, and he bet on his team to lose.

775
00:37:14,880 --> 00:37:17,520
Speaker 2: It's like that's a slam dunk. You're getting banned, but

776
00:37:17,600 --> 00:37:20,239
Speaker 2: no questions asked. No one's gonna complain, No fans are

777
00:37:20,280 --> 00:37:23,080
Speaker 2: going to ask questions. Easy done. And I think that's

778
00:37:23,120 --> 00:37:25,960
Speaker 2: the kind of stuff that hopefully will scare other people

779
00:37:25,960 --> 00:37:28,959
Speaker 2: into not doing similar things. But look, you know there's

780
00:37:29,000 --> 00:37:33,040
Speaker 2: no doubting that there is some kind of hypocrisy here

781
00:37:33,080 --> 00:37:35,319
Speaker 2: where the league is saying. You know, people make jokes

782
00:37:35,360 --> 00:37:37,439
Speaker 2: every time one of these things comes up, Johontay Porter

783
00:37:37,480 --> 00:37:40,360
Speaker 2: investigation brought to you by fan Duel or DraftKings or whatever,

784
00:37:40,480 --> 00:37:43,439
Speaker 2: because that's what the league is doing. And I think

785
00:37:43,520 --> 00:37:45,359
Speaker 2: what the players need to understand is what we talked

786
00:37:45,400 --> 00:37:48,000
Speaker 2: about earlier, which is like, you guys are benefiting from

787
00:37:48,000 --> 00:37:51,319
Speaker 2: this financially. The league isn't just making money and you

788
00:37:51,360 --> 00:37:52,840
Speaker 2: guys are not getting a share of it. No, this

789
00:37:52,960 --> 00:37:55,160
Speaker 2: is helping you guys, but there's specific rules that you

790
00:37:55,239 --> 00:37:57,200
Speaker 2: have to be able to abide by for us to

791
00:37:57,360 --> 00:37:58,880
Speaker 2: make this money that you're not going to end up

792
00:37:58,880 --> 00:38:00,799
Speaker 2: getting fifty percent of and part of that is not

793
00:38:00,840 --> 00:38:03,440
Speaker 2: betting on games. It's keeping the integrity of the game important.

794
00:38:03,800 --> 00:38:06,680
Speaker 2: So to answer your question, I think it's just having

795
00:38:06,800 --> 00:38:10,359
Speaker 2: zero tolerance. It's it's lifetime bans, it's multiple year suspensions.

796
00:38:10,600 --> 00:38:14,239
Speaker 2: The NFL has done a pretty good job of setting guidelines,

797
00:38:14,400 --> 00:38:16,680
Speaker 2: very strict guidelines of hey, if you do this, this

798
00:38:16,760 --> 00:38:18,840
Speaker 2: is what the punishment is going to be. It fits

799
00:38:18,840 --> 00:38:21,080
Speaker 2: within this label, and that's what's going to happen, and

800
00:38:21,120 --> 00:38:23,400
Speaker 2: they've had to apply that, you know, more than a

801
00:38:23,440 --> 00:38:25,400
Speaker 2: handful of times at this point. But I think the

802
00:38:25,440 --> 00:38:28,120
Speaker 2: hope is over time, as more players get educated and

803
00:38:28,120 --> 00:38:30,600
Speaker 2: they do more kind of learning around this stuff, that

804
00:38:30,680 --> 00:38:33,040
Speaker 2: hopefully that number goes down. Now, the big concern for

805
00:38:33,080 --> 00:38:36,080
Speaker 2: the leagues is if there's like a bigger scandal. Right

806
00:38:36,160 --> 00:38:38,200
Speaker 2: John day Porter, it's like, okay, this, you know this

807
00:38:38,239 --> 00:38:40,759
Speaker 2: two way players betting on his props under he's come

808
00:38:40,800 --> 00:38:42,920
Speaker 2: out of a game with injuries. It was obvious what

809
00:38:43,000 --> 00:38:44,960
Speaker 2: was happening. I forget the exact number that he was betting,

810
00:38:45,000 --> 00:38:46,800
Speaker 2: but it was like, you know, totally outsized to what

811
00:38:46,840 --> 00:38:48,680
Speaker 2: you would bet on a normal prop, but specifically on

812
00:38:48,680 --> 00:38:52,000
Speaker 2: a John day Porter prop. It was outrageous. Those things

813
00:38:52,000 --> 00:38:54,719
Speaker 2: are easy to catch and not meaningful to the overall game.

814
00:38:54,760 --> 00:38:57,960
Speaker 2: I would argue the bigger ones are like, are some

815
00:38:58,000 --> 00:39:00,720
Speaker 2: of these games potentially going to be fit in the future.

816
00:39:00,760 --> 00:39:02,880
Speaker 2: Are there going to be star players that are important

817
00:39:02,880 --> 00:39:05,320
Speaker 2: to the league that make a dumb decision and impact

818
00:39:05,400 --> 00:39:08,000
Speaker 2: ratings or kind of controversy and things like that, And

819
00:39:08,040 --> 00:39:10,040
Speaker 2: those are the things that the leagues be more concerned

820
00:39:10,040 --> 00:39:12,359
Speaker 2: about rather than just, you know, the props. I think

821
00:39:12,360 --> 00:39:14,799
Speaker 2: you guys probably know this better than me. But there

822
00:39:14,840 --> 00:39:16,400
Speaker 2: was an article a few weeks ago about I think

823
00:39:16,440 --> 00:39:19,560
Speaker 2: it was the NBA was specifically talking about limiting props

824
00:39:20,160 --> 00:39:23,400
Speaker 2: or maybe taking them away altogether, which you know, I

825
00:39:23,440 --> 00:39:25,840
Speaker 2: don't necessarily think that's the best idea. There's plenty of

826
00:39:25,880 --> 00:39:27,920
Speaker 2: people that like props, and there's businesses that have been

827
00:39:27,920 --> 00:39:31,879
Speaker 2: built on that that gameplay style. But I would argue,

828
00:39:31,880 --> 00:39:34,799
Speaker 2: you probably don't need John te Border props right, or again,

829
00:39:34,840 --> 00:39:37,080
Speaker 2: you can limit them to a number that's not substantial

830
00:39:37,200 --> 00:39:40,160
Speaker 2: and would make it so no one wants to fix

831
00:39:40,160 --> 00:39:42,839
Speaker 2: the game or risk their their multimillion dollar career because

832
00:39:42,840 --> 00:39:43,080
Speaker 2: of it.

833
00:39:43,520 --> 00:39:47,759
Speaker 3: Yeah, if people want peace of mind, there is no

834
00:39:48,200 --> 00:39:52,359
Speaker 3: event in America, no sport, an event in America that

835
00:39:52,400 --> 00:39:57,400
Speaker 3: can be fixed for say seven figures without millions of

836
00:39:57,440 --> 00:40:00,960
Speaker 3: red flags now exploding everywhere. There's super is the only

837
00:40:01,040 --> 00:40:03,640
Speaker 3: thing you can maybe get enough money down with enough

838
00:40:03,680 --> 00:40:07,360
Speaker 3: people that it would be advantageous to these different players

839
00:40:07,360 --> 00:40:11,360
Speaker 3: to even consider fixing the game. But I mean, we

840
00:40:11,400 --> 00:40:14,040
Speaker 3: all agree, right, it's it's the the quarterback really is.

841
00:40:14,120 --> 00:40:15,920
Speaker 3: Unless it's the referees, that's a whole nother story.

842
00:40:15,960 --> 00:40:17,319
Speaker 2: But I just want people to have a.

843
00:40:17,320 --> 00:40:20,440
Speaker 3: Piece of mind knowing it's it's impossible. I mean, we

844
00:40:20,480 --> 00:40:20,919
Speaker 3: just talked about.

845
00:40:20,960 --> 00:40:22,320
Speaker 2: But I don't I don't know if I agree. I

846
00:40:22,360 --> 00:40:24,000
Speaker 2: don't know if I don't know if I agree with

847
00:40:24,040 --> 00:40:28,200
Speaker 2: that though, right, because so Johntay Porter, I don't. I

848
00:40:28,239 --> 00:40:29,960
Speaker 2: agree in the fact that he probably couldn't have fixed

849
00:40:29,960 --> 00:40:31,759
Speaker 2: the game. I don't think he was an important enough

850
00:40:31,760 --> 00:40:33,200
Speaker 2: player and kind of in the grand scheme of the

851
00:40:33,239 --> 00:40:34,359
Speaker 2: game plan to be able to do that.

852
00:40:34,440 --> 00:40:35,800
Speaker 3: But even if he tried, he failed.

853
00:40:36,160 --> 00:40:40,040
Speaker 2: Yeah he did. But he did it. He did it

854
00:40:40,080 --> 00:40:42,680
Speaker 2: for much less money than you are arguing people would

855
00:40:42,719 --> 00:40:44,720
Speaker 2: do it for, right, Like he just made a dumb decision.

856
00:40:45,160 --> 00:40:47,239
Speaker 2: He was essentially going to make like fifteen grand on

857
00:40:47,280 --> 00:40:49,680
Speaker 2: a game like that's idiotic in the grand scheme of

858
00:40:49,680 --> 00:40:51,120
Speaker 2: his career and how much money he was making for

859
00:40:51,200 --> 00:40:53,520
Speaker 2: being on the raptors. So the idea that you have

860
00:40:53,560 --> 00:40:56,359
Speaker 2: to get seven figures down if you were smart, yes,

861
00:40:57,000 --> 00:40:59,359
Speaker 2: but the fact that he was doing it for you know,

862
00:41:00,200 --> 00:41:04,880
Speaker 2: fifteen thousand dollars uh is one idiotic, but two it

863
00:41:04,960 --> 00:41:08,040
Speaker 2: leaves a little room for interpretation on what what players

864
00:41:08,040 --> 00:41:09,080
Speaker 2: would be willing to do it for.

865
00:41:09,400 --> 00:41:13,040
Speaker 3: No, you're definitely right, Like of a backup quarterback somehow

866
00:41:13,080 --> 00:41:15,200
Speaker 3: knew he was playing that week and no one else knew,

867
00:41:15,480 --> 00:41:17,879
Speaker 3: and he was like, I am going to shit this bed.

868
00:41:18,000 --> 00:41:20,920
Speaker 3: I have not studied. I am unprepared. I am terrible.

869
00:41:21,280 --> 00:41:22,960
Speaker 3: He could go out and tell all of his friends

870
00:41:23,000 --> 00:41:25,080
Speaker 3: and get maybe a bunch of money down against him.

871
00:41:25,719 --> 00:41:30,040
Speaker 3: But these books now, like betters, no man, if I'm

872
00:41:30,120 --> 00:41:31,760
Speaker 3: if I even if I'm trying to get a small

873
00:41:31,800 --> 00:41:36,719
Speaker 3: bet down midday two thousand dollars, someone's getting called like it,

874
00:41:37,400 --> 00:41:39,640
Speaker 3: like it's there, and they have face direction, Like I

875
00:41:39,680 --> 00:41:41,560
Speaker 3: talk to chat all the time. I wear a mask

876
00:41:41,600 --> 00:41:44,080
Speaker 3: now to sports books because the minute I walk on

877
00:41:44,080 --> 00:41:46,719
Speaker 3: our sports book, I'm escorted out because the cameras pick

878
00:41:46,800 --> 00:41:49,200
Speaker 3: up your face and the technology now where they're like, oh,

879
00:41:49,239 --> 00:41:51,520
Speaker 3: they know exactly who I am. I so security umber

880
00:41:51,520 --> 00:41:55,200
Speaker 3: pops up the whole nine yard. So I'm agreeing with you. Actually,

881
00:41:55,239 --> 00:41:57,719
Speaker 3: you made a good point there that that guy with Toronto,

882
00:41:58,320 --> 00:42:00,719
Speaker 3: that's the definition of having a sick right, he had

883
00:42:00,760 --> 00:42:04,000
Speaker 3: the disease because there is no logical reason behind it.

884
00:42:04,040 --> 00:42:06,239
Speaker 3: I was mainly talking about. You know, people are like,

885
00:42:07,680 --> 00:42:10,359
Speaker 3: what if Patrick mahomes through Super Bowl whatever, like all

886
00:42:10,400 --> 00:42:13,680
Speaker 3: these crazy speculations. It just wouldn't make sense. The guy

887
00:42:13,680 --> 00:42:17,319
Speaker 3: gets paid fifty million dollars, Like, there's no unless the

888
00:42:17,360 --> 00:42:19,480
Speaker 3: mafia has his wife and kids. I just don't there's

889
00:42:19,560 --> 00:42:22,520
Speaker 3: no scenarios. So I just people all the time say

890
00:42:22,560 --> 00:42:24,520
Speaker 3: these crazy things. Me and Chad joke about it. Oh

891
00:42:24,560 --> 00:42:26,520
Speaker 3: the script got leaked, right, the game script. We know

892
00:42:26,560 --> 00:42:28,839
Speaker 3: what's going to happen. We're just having fun.

893
00:42:28,880 --> 00:42:29,120
Speaker 2: People.

894
00:42:29,200 --> 00:42:31,719
Speaker 3: It's it's not people act as if these things are

895
00:42:31,760 --> 00:42:33,480
Speaker 3: all scripted. It's really not people.

896
00:42:34,400 --> 00:42:39,520
Speaker 1: You could make the case if we were conspiracy minded

897
00:42:41,640 --> 00:42:48,319
Speaker 1: that Johantay Porter ended up being a patsy for all

898
00:42:48,320 --> 00:42:53,640
Speaker 1: of this, that somehow you couldn't find a better example.

899
00:42:54,440 --> 00:42:57,640
Speaker 1: Ban a two way player for player props that don't

900
00:42:57,680 --> 00:43:01,799
Speaker 1: really impact the game. You send the message, You make

901
00:43:01,840 --> 00:43:05,880
Speaker 1: it clear there's a no tolerance policy. Mid level players

902
00:43:05,920 --> 00:43:09,560
Speaker 1: making two million a year who might be overspending and

903
00:43:09,600 --> 00:43:13,200
Speaker 1: looking for easy ways out, all of a sudden, they're

904
00:43:13,280 --> 00:43:15,760
Speaker 1: not looking for that out because they know the league

905
00:43:15,840 --> 00:43:17,759
Speaker 1: is going to come down on them because they saw

906
00:43:17,800 --> 00:43:19,000
Speaker 1: what they did to John day Porter.

907
00:43:20,360 --> 00:43:22,080
Speaker 2: Yeah, that's basically what I was saying. Right. It was

908
00:43:22,120 --> 00:43:24,960
Speaker 2: like almost helpful for the NBA that had happened, because

909
00:43:25,640 --> 00:43:27,399
Speaker 2: right out the gate you said an example of what's

910
00:43:27,400 --> 00:43:29,239
Speaker 2: going to happen if you go do that, and it's

911
00:43:29,239 --> 00:43:31,320
Speaker 2: not a player that really matters in the grand scheme

912
00:43:31,360 --> 00:43:31,759
Speaker 2: of the game.

913
00:43:32,440 --> 00:43:35,640
Speaker 1: No, all right, Joe, thanks for coming on.

914
00:43:35,719 --> 00:43:36,000
Speaker 2: Brother.

915
00:43:36,160 --> 00:43:40,800
Speaker 1: Joe Pompliano, author of the Huddle Up newsletter, great follow

916
00:43:40,880 --> 00:43:44,040
Speaker 1: on social media. When it comes to sports sports business, Look,

917
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Speaker 1: this is not a beat that's going away. It's going

918
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919
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Speaker 1: future evolves, whether it's sports betting, streaming rights, ticketing investment,

920
00:43:56,520 --> 00:44:00,520
Speaker 1: it all trickles down to us folks, every single element.

921
00:44:01,120 --> 00:44:03,759
Speaker 1: As a reminder, the Favorites Podcast is presented by bet

922
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Speaker 1: and I will be back with our next episode of

936
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Speaker 1: The Favorites on the Action Network YouTube page. Tuesday one

937
00:44:50,800 --> 00:44:55,440
Speaker 1: forty five pm Eastern. Download us from Spotify, Apple Pods

938
00:44:55,440 --> 00:44:58,040
Speaker 1: wherever you get your pods, Rate review, subscribe, leave us

939
00:44:58,040 --> 00:45:01,880
Speaker 1: five stars, say whatever you want is a gift until Tuesday.

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Speaker 2: Love you. Action Network reminds you please gamble responsibly. If

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