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Speaker 1: This is the Floomberg Business of Sports Summer, exploring the

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Speaker 1: big money issues in the world of sports. Carol Messer,

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Speaker 1: we love talking to athletes. We love hearing about where

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Speaker 1: they are in terms of investments. Jason Kelly, the NBA

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Speaker 1: really got out ahead of everybody else when it comes

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Speaker 1: to technology. From Michael Barr, You're dealing with a sport

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Speaker 1: with many sponsors, and some of the biggest names in

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Speaker 1: the industry were in the digital world. We are leaders

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Speaker 1: in that world. A lot of marked players have become

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Speaker 1: good businessmen. Business as the whole is quite strong. The

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Speaker 1: Floomberg Business of Sports Summer with Carol Messer, Jason Kelly,

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Speaker 1: and Michael Barr on Bloomberg Radio live from Bloomberg World

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Speaker 1: Headquarters in New York City. Welcome to the Bloomberg Business

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Speaker 1: of Sports Summit. I'm Carol Master, along with Michael bar

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Speaker 1: co host of the Business of Sports and news anchor

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Speaker 1: on Bloomberg Radio. We've got a great view outside our windows,

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Speaker 1: beautiful day in New York City, but a really amazing

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Speaker 1: view inside here on the twenty floor and free food

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Speaker 1: and free flo I gotta say, anybody who's everybody or

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Speaker 1: everybody who's anybody in sports they are collecting in this room.

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Speaker 1: Pick your league, right, whether it's baseball, whether it's football,

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Speaker 1: whether it's lacrosse, whether it's hockey. Everybody's here. This is

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Speaker 1: something where, to be honest, where you have so many

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Speaker 1: great business minds that you want to pick their brains

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Speaker 1: about the industry, the model that they're using. And I'm

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Speaker 1: not talking about just all the way up from the

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Speaker 1: New York Yankees. I'm talking about from startup companies as well. Yeah, exactly,

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Speaker 1: and we're gonna be talking to them over the next

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Speaker 1: couple of hours. Jason Kelly is going to be joining

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Speaker 1: us too. In about an hour. We have Algo, president

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Speaker 1: of the San Francisco forty Niners and CEO, also involved

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Speaker 1: in elevated sports ventures. We were talking off the year

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Speaker 1: about NASCAR. First of all, thank you so much for

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Speaker 1: joining us. It's a pleasure to be here. Thank you

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Speaker 1: for having me. He's got an original Carol, or an

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Speaker 1: original four or four two car, not that knockoff stuff

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Speaker 1: from the SEC. Just gonna say, you guys were talking

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Speaker 1: cars big time before I thought we're gonna talking football,

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Speaker 1: but hey, that's okay cars and we were talking little

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Speaker 1: Hendrick motorsports and it's a lot of fun. I love

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Speaker 1: all sports. Well, first of all, let's talk about your sport.

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Speaker 1: Your involved with the free agency is ongoing? Uh, your

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Speaker 1: thoughts about it? How do you think the team is going? So?

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Speaker 1: I thought we've had a really good week. I mean,

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Speaker 1: free agency will continue on through the off season. But

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Speaker 1: we added a pass rusher in d Ford from Kansas

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Speaker 1: City Chiefs. Uh. You know, We've added a cornerback to

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Speaker 1: really help our depth there. We added a linebacker Kwan

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Speaker 1: Alexander from the Tampa Bay Buccaneers. Captain first class, kind

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Speaker 1: of human being, really proud to obviously add these guys

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Speaker 1: to our locker room. We needed some help on the

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Speaker 1: defensive side. And then on the off season, we're getting

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Speaker 1: our quarterback back Jimmy Garoppolos coming off in a c

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Speaker 1: L tear in Week three against the Kansas City Chiefs.

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Speaker 1: So it's good to see him out there throwing in

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Speaker 1: the backyard. What about Odell Beckham. I gotta tell you

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Speaker 1: my brothers, I grew up watching the Giants going to

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Speaker 1: the Giants games. They're so upset that he was traded. Wooer.

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Speaker 1: Is that you guys are pretty interested? Yeah? I can't

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Speaker 1: confirm or deny say he's Uh, he's an unbelievable player,

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Speaker 1: generational talent, one of the best receivers in the game,

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Speaker 1: if not, you know, the best, and uh, he's gonna

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Speaker 1: do big things in Cleveland. I know the Giants fans

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Speaker 1: are a little upset. We feel good about the guys

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Speaker 1: we have in the quarterback offense. Well, we can't talk

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Speaker 1: with him, but well, yeah, no, there's no doubt. I mean,

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Speaker 1: any chance we have an opportunity to add somebody like

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Speaker 1: that or or any other player on the offensive side

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Speaker 1: to our roster. We were able to add a running

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Speaker 1: back this year, Tevin Coleman, to our backfield. Anytime we

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Speaker 1: can add top tier talent to our team, we're gonna

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Speaker 1: try to do the best with If you could get him,

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Speaker 1: you would take him nice to have, you know. Let's

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Speaker 1: just say we're happy that he's in the a f C.

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Speaker 1: Although we have to play him this year. We have

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Speaker 1: the Browns on our schedule this year, so something tells

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Speaker 1: me it's gonna be a little bit tougher of a game.

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Speaker 1: My wife told me, she said, if you don't mention

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Speaker 1: that is my favorite team you I will not be

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Speaker 1: allowed in the house tonight, so I had to say

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Speaker 1: that it's done now. Now, speaking as a Detroit Lions,

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Speaker 1: what the league itself? Where do you see? Where do

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Speaker 1: you see it going? In terms of as as we

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Speaker 1: continue on, we're we're coming up on negotiations. Where do

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Speaker 1: you see the league and how will it work for

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Speaker 1: the teams? I think we came off a really good year.

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Speaker 1: I mean, I think if you look at the content

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Speaker 1: and the broadcast ratings, I think we were forty six

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Speaker 1: out of the top fifty programs watched. The College Football

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Speaker 1: Championship was forty seven, which was hosted at Levi Stadium

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Speaker 1: where I live. Um, I think I think we're in

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Speaker 1: a good place. But no doubt the c b A

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Speaker 1: is looming and what that might mean to obviously sports,

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Speaker 1: obviously all the people in this room today. There's some

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Speaker 1: media partners here, are rights are coming up. So it's

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Speaker 1: good to kind of shake hands and see where we're at.

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Speaker 1: But um, I couldn't be you know, more more happy

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Speaker 1: or more thrilled with where the league is. The competitive balance,

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Speaker 1: all the teams that make the playoffs and don't make

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Speaker 1: the playoffs, the margin of VIC three was that kind

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Speaker 1: of at as lowest this year, So I feel good

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Speaker 1: about where we're at. We got to get back to

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Speaker 1: our winning ways. We've had a tough couple of years

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Speaker 1: on the field ourselves with the forty niners, so we're

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Speaker 1: looking to get back well. I think with the elevate

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Speaker 1: um sports ventures, I mean, you guys are constantly thinking

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Speaker 1: about the sports experience and how do you kind of

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Speaker 1: improve it, change it, monetize it. I mean, what are

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Speaker 1: you guys thinking along that way? Is what do fans want?

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Speaker 1: So fans want what they want at their fingertips whenever

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Speaker 1: they want it, And so I think what the way

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Speaker 1: we think about it is what does the content look like?

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Speaker 1: How is it shifting right whether it's how I view

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Speaker 1: a game or do I stream it? Do I watch

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Speaker 1: it on linear television? You know, how do I get

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Speaker 1: my content from the team, Because now it's really three

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Speaker 1: sixty five, it's not just when we're in the NFL season.

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Speaker 1: You know, what are the behind the scenes access shots

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Speaker 1: that we can give the team because we now own

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Speaker 1: that content. What will gambling mean to both our venue,

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Speaker 1: our team, and our league in general? For us on

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Speaker 1: the football side, it's a lot about the help and

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Speaker 1: safety of the sport. How do we make sure kids

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Speaker 1: that continue to play? So, what are we doing about concussions?

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Speaker 1: How are we thinking about equipment right, all the things

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Speaker 1: that go into that. I think our job right now

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Speaker 1: is obviously have the most entertaining sport on the field

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Speaker 1: and in the stadium as we possibly can, because that

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Speaker 1: drives viewership. But long term is to make sure that

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Speaker 1: children continue to participate in playing football because frankly, that's

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Speaker 1: the biggest risk I think that we have as a

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Speaker 1: sport long term. That's the thing about what you just

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Speaker 1: said about people coming to the stadium long gone or

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Speaker 1: the days like well would just sell a popcorn and

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Speaker 1: we'll get him in. You have to make an experience

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Speaker 1: now when they're actually at the game from like you said, streaming, uh,

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Speaker 1: picking up anything they can look their their phone and

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Speaker 1: check fantasy sports whatever. It has to be an experience. Yeah,

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Speaker 1: And we talked about that a lot about the Four

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Speaker 1: Niners and at laved Sports ventures. I mean, in the

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Speaker 1: NFL side, we say it's a six hour experience and

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Speaker 1: it's only twenty eight minutes of live football, and so

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Speaker 1: what are you doing during that downtime? And you know,

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Speaker 1: I know Mark Cubans said he didn't want any phones

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Speaker 1: in this building, but we can't sell NFL fans to

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Speaker 1: be disconnected from the world for five and a half

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Speaker 1: hours while that while I'm not watching the game. And then, Michael,

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Speaker 1: you know, I think on the elevated sports venture side,

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Speaker 1: you've seen dramatically these arenas spike in price, these stadiums, right,

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Speaker 1: You're talking about five billion dollar stadium in l A.

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Speaker 1: These investments have gotten riskier, and so you need to

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Speaker 1: fill that content. You need to fill those villions with

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Speaker 1: a lot of content we unfortunately have to run. I'll

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Speaker 1: thank you so much, really appreciate it. Alguido Presidency of

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Speaker 1: the San Francisco forty nine. You're listening to the Bloomberg

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Speaker 1: Business of Sports Summer with a Carol Messer, Jason Kelly,

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Speaker 1: and Michael Ball on Bloomberg Radio. Guess indeed everybody the

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Speaker 1: Bloomberg Business of Sports Summit Carol Masser along with Michael

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Speaker 1: Barr for this hour. Will the players deal with the

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Speaker 1: NFL expiring after the season? So what are the biggest

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Speaker 1: issues players want to change? He's been a pretty busy guy.

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Speaker 1: He's been telling us. D Smith is in the house

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Speaker 1: he's executive director of the NFL Players Association. Nice to

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Speaker 1: have you here again. We look forward to talking to

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Speaker 1: you know, chatting with you guys. So tell us what

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Speaker 1: are some of the big issues this time around? You know,

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Speaker 1: let's from around. I'm sure you know there's always a

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Speaker 1: healthy fight over echo comics. UH, with the continued focus

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Speaker 1: on the health and safety of the players. Is a

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Speaker 1: is a zero sum topic for us UH And and

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Speaker 1: we don't really apologize for fighting for increased player safety. UM.

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Speaker 1: We're never satisfied about where we are, so those will

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Speaker 1: always be the twin frame issues that we fight. There.

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Speaker 1: Is it still a fight though, D Like with all

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Speaker 1: with all of the information that's out there, the research,

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Speaker 1: the studies, why is it is it really still a fight? Well,

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Speaker 1: you know what we're We're a union, so we're kind

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Speaker 1: of conditioned to fight. UM. And at the same time,

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Speaker 1: you know, in a in in any sort of system,

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Speaker 1: and and I'm an a bashed capitalist, there's always a

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Speaker 1: force on one side that would like to have people

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Speaker 1: work longer and work harder, and there's a force on

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Speaker 1: the other side that would like, um, uh, people to

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Speaker 1: be safe. And what you try to do is is

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Speaker 1: find a middle ground. What we've done over the years

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Speaker 1: is really take a view that it's not so much

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Speaker 1: about finding a middle ground anymore. UM. We stake out

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Speaker 1: our territory on what we think, UM is the health

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Speaker 1: the way to to conduct this business, and we insist

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Speaker 1: on that on being the standard. And and at times

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Speaker 1: UM I would say that there's UH generally uniform agreement.

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Speaker 1: But if there isn't a force like a union, and

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Speaker 1: whether it's firefighters, police officers, coal miners, teachers, UM. You

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Speaker 1: know you have seen UH fights that that have to

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Speaker 1: happen and UH, and it's not because one side is

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Speaker 1: evil or one side is is not. It's just that

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Speaker 1: we have a system that I think required there to

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Speaker 1: be UM equal power on both sides to reach the

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Speaker 1: right conclusion. This was a strange years somewhat in the

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Speaker 1: NFL because I had seen some labor disputes that I've

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Speaker 1: never seen before. The biggest one I can think of

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Speaker 1: right now is Levian Bell where he sat out for

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Speaker 1: the entire season. Your thoughts as a union representing Leon

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Speaker 1: any time a young man, anytime a person UM UH

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Speaker 1: makes a decision that they have thought through, that that

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Speaker 1: they believe is well reasoned that they believe is in

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Speaker 1: their own best economic interest. I applaud that. So in

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Speaker 1: the same way that we've seen some players decide that

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Speaker 1: they were going to retire from football, Uh, not because

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Speaker 1: they were injured, but because they were not injured. Uh.

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Speaker 1: We've seen women the U S women's national team, UH,

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Speaker 1: draw a line in the sand over equal pay. We've

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Speaker 1: seen teachers all across this country really lead sort of

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Speaker 1: a rebirth of the labor movement when they decide to

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Speaker 1: go on strike. When people do those things and make

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Speaker 1: a decision that is well reasoned, um, and and they

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Speaker 1: do it because they think it's right. What else should

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Speaker 1: a labor union leader do but applaud them and and

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Speaker 1: say congratulations. And and so I know that that caused

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Speaker 1: friction on their team. I know it caused friction with

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Speaker 1: their coach. Um, But I'm blessed to only have one

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Speaker 1: job of myopically looking at what's in the best interests

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Speaker 1: of our players. And uh, to a certain extent, that

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Speaker 1: makes a job kind of easy. But you do think

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Speaker 1: the NBA UM team owners and stuff. And and also

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Speaker 1: you know sports activism like what's the relationship, what should

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Speaker 1: it be? Well, you know, I think that all of

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Speaker 1: our sports are gonna do just fine if we allow

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Speaker 1: people to use their voice. Um. You know you you

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Speaker 1: thirties or the forties or or even come forward to um,

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Speaker 1: all of us when we were much younger in the sixties. Um,

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Speaker 1: when you had John Carlos and other people taking taking

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Speaker 1: would sort of challenge virtually anybody to conclusively prove that

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Speaker 1: that that activism somehow hurt the sport or hurt the revenue.

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Speaker 1: And even if it did, aren't there some things that

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Speaker 1: are more important than just the bottom line. Now, I

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Speaker 1: know I'm at Bloomberg and that might cause me to

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Speaker 1: get struck by lightning. Um, but the indecent just fell

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Speaker 1: to the floor. Um. But you know, when have um,

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Speaker 1: when have people taking brands because really hurt the business?

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Speaker 1: And and even if it did, I mean, these folks

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Speaker 1: have incredible platforms. Well, you know, we were fortunate enough

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Speaker 1: to represent the U S Women's uh national soccer team

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Speaker 1: and their licensing and marketing. We represent the uh W

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Speaker 1: NBA players um on it for their licensing and marketing.

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Speaker 1: Am I concerned about the fact that a group of

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Speaker 1: women basketball players make less than men? Yes, um Am

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Speaker 1: I concerned that they make a lower share of revenue

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Speaker 1: for their work than what the menu make. Yes, and

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Speaker 1: and and I'm really happy that those women have decided

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Speaker 1: the corner. Uh. They've decided to take the reins of

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Speaker 1: their own destiny in their own hands. And I think

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Speaker 1: that's an important thing. The a F brought up a

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Speaker 1: story that was very interesting. They're they're saying, we don't

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Speaker 1: have a problem with taking players who are on the

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Speaker 1: low end of any football team and bringing them to

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Speaker 1: the a F so they can develop their game. But

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Speaker 1: first they got to work it out with the union.

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Speaker 1: So your thoughts about that in twenty seconds. Anytime someone

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Speaker 1: is forced to talk to d Smith, that's a great thing. Um.

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Speaker 1: You know, look, I think that if we're able to

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Speaker 1: work out a relationship with the a F that benefits

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Speaker 1: some of our players, I think that would be a

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Speaker 1: great thing. Smith, Thank you so much. We really appreciate it.

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Speaker 1: Of course, The executive director of the NFL Players Association

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Speaker 1: with US is Joe ash Or. He's CEO U S

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Speaker 1: of through Now British bookmaker William hill oversees really the

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Speaker 1: largest collection of sports book in Nevada, owns more than

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Speaker 1: a quarter of the bookmaking shops in the UK. And

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Speaker 1: I'm sure I'm leaving something out. Welcome to Bloomberg Radio

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Speaker 1: and nice to talk with you. It's great to see you.

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Speaker 1: How's it all going, especially as we see here in

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Speaker 1: the United States more states legalizing online gaming looks certainly

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Speaker 1: a busy time in our business for sure. You know,

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Speaker 1: really the last year and a half feels like it's

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Speaker 1: been going non stop, uh and it will just continue

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Speaker 1: to uh to go at this pace for the foreseeable future.

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Speaker 1: One thing I like about that's happening now is that

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Speaker 1: people can do it online as long as they have

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Speaker 1: a phone and they have the aff if the state

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Speaker 1: allows it, they can go around and do it wherever

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Speaker 1: they want. Where do you see that expanding and when

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Speaker 1: we're more businesses continue to do that? Well, Look, it's

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Speaker 1: the Supreme Court last May ruled that it was up

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Speaker 1: to the states whether or not they wanted to have

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Speaker 1: sports betting, and then it follows from that the form

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Speaker 1: whether it's retail only as it is in many states,

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Speaker 1: or whether there's an online component as there is in

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Speaker 1: Nevada and then New Jersey, and and you'll see that

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Speaker 1: in other states as well, or fundamentally Supreme Court to

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Speaker 1: set its up to the states to decide, and I

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Speaker 1: think you're seeing the legislative process play out in the

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Speaker 1: various states. Now is your biggest presence right now in

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Speaker 1: New Jersey? I mean, you guys were out in front

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Speaker 1: ahead of everybody else in terms of preparing for that

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Speaker 1: Supreme Court decision? Is that your biggest presence at this point? Well,

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Speaker 1: the biggest still by far is in Nevada because it's

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Speaker 1: been going on obviously for for decades. In Nevada. That's

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Speaker 1: kind of a separate thing. It's a separate thing, but

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Speaker 1: you know, look, it's incredibly important. But it's also uh

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Speaker 1: that infrastructure is which allowed us to move quickly in

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Speaker 1: in the other states because we've got the people who

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Speaker 1: who know what they're doing, we've got the technology, uh,

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Speaker 1: and then it's a process of just rolling that out

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Speaker 1: to the additional states. Do you do you see the

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Speaker 1: rest of the states getting as big as Nevada? I mean,

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Speaker 1: obviously in Nevada has been there for a while and

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Speaker 1: very established. But do you see ultimately that the rest

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Speaker 1: of the states, as they sign on that they will

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Speaker 1: be as big a marketplace. Well, certainly the major states

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Speaker 1: will be. I mean you would think that New York, California,

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Speaker 1: states with big populations, uh, will ultimately become as big,

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Speaker 1: if not bigger than the VATA. But you know that's

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Speaker 1: a function of of things like tax rates, what the

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Speaker 1: regulation is as well. You know, Pennsylvania is a great

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Speaker 1: example of that where the market will be stunted because

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Speaker 1: of of the tax rate that's in place there. So ultimately,

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Speaker 1: how big the markets cattle be a function of public

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Speaker 1: policy decisions. Well, here comes a big moneymaker for you guys.

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Speaker 1: Hope Fulka's march madness has arrived. Uh. In fact, one

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Speaker 1: of the bookmakers and they were talking about Duke. A

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Speaker 1: lot of people are betting on Duke now and uh,

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Speaker 1: in fact, the bookmaker floor for you guys, and he said, yeah,

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Speaker 1: we love it because it was at plus two. It's

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Speaker 1: twenty plus two forty and now Duke is that plus

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Speaker 1: two hunters. Yeah, No, Look, Duke is is sort of

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Speaker 1: the college equivalent, perhaps of the of the New England Patriots,

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Speaker 1: you know during the Brady and Bob Craft and Belichick era,

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Speaker 1: you know, Duke under coach k you know, they're just

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Speaker 1: they seem to be there, you know, every year in

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Speaker 1: one form or another. And and you know there's certainly

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Speaker 1: the hot team coming into the tournament this year. How

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Speaker 1: much money do you think that the bookmakers, not just

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Speaker 1: yourself but all over could make on this March Madness time? Yeah,

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Speaker 1: look out to some extent of that depend on the results.

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Speaker 1: But you know, the way it typically is, the first

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Speaker 1: weekend of March Madness is really the key part of

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Speaker 1: the tournament. And that's when you see people getting really

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Speaker 1: enthused about it because there's so many schools in and

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Speaker 1: everybody's still live and and you know, even if their

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Speaker 1: team is a smaller school, they've got the uh, the

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Speaker 1: hope of the Cinderella run, uh that that's in it.

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Speaker 1: And so you know, historically in Nevada, the first four

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Speaker 1: days would equal the super Bowl. Then it was you know,

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Speaker 1: the first you know, then it was three days would

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Speaker 1: equal the super Bowl. As it increased and increase. Now

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Speaker 1: in Nevada it's about you know, the first two days,

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Speaker 1: the Thursday Friday, or the equivalent of what we do

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Speaker 1: during a Super Bowl. So it's gotten really really big.

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Speaker 1: It's interesting too as as more UM states legalized. I'm

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Speaker 1: curious about some of the trends that you're seeing in

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Speaker 1: terms of people who sign up and start playing. What's

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Speaker 1: the retention rate coming back. I'm just curious what you

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Speaker 1: guys are seeing. Yeah, look, it's still it's still very

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Speaker 1: early days. One of one of the you know, so

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Speaker 1: you're in the process now that the folks were signing

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Speaker 1: up are clearly the early adopters, and and folks who

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Speaker 1: are you know, they're they're already betting. Frankly, they've probably

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Speaker 1: been betting with their bookie for some period of time.

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Speaker 1: And you know, now we're in the progress of migrating

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Speaker 1: people from the black market into the legal and regulated market. Uh.

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Speaker 1: And so you know, we haven't really got to the

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Speaker 1: point where customers are leaving because it's still very much

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Speaker 1: the acquisition phase. But you know the nevada Um experiences,

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Speaker 1: you know, customers sign up and then they tend to

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Speaker 1: stick around and and remain loyal as long as you're

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Speaker 1: doing a good job. The same that you've seen, what

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Speaker 1: how things have happened in Nevada. And again, as you say,

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Speaker 1: we're early on in the process. But is New Jersey

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Speaker 1: just like you see in Nevada or does is each

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Speaker 1: market going to have its own nuances? You know, each

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Speaker 1: market will have its own nuances and around look around mobile.

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Speaker 1: In Nevada, the rule is you have to physically go

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Speaker 1: into a sports book to sign up for your mobile account.

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Speaker 1: And you know that works pretty well in Nevada, where uh,

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Speaker 1: everybody lives within fifteen minutes of a casino. Quite frankly,

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Speaker 1: you know, contrast that to New Jersey, where you can

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Speaker 1: sign up remotely, uh for a mobile account, which is

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Speaker 1: the right model in New Jersey where you know, all

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Speaker 1: the casinos are concentrated in Atlantic City, Uh, and then

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Speaker 1: you can also sign up at a couple of racetracks.

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Speaker 1: But some people live more than an hour from the

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Speaker 1: closest sports book, and so the ability to register remotely

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Speaker 1: is important. You got about a minute left and you

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Speaker 1: mentioned about Booki's yes, Benny is mad at me already.

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Speaker 1: But I've said too much already. But it brings up

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Speaker 1: the point that, uh, as we get more people into this,

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Speaker 1: as more casinos getting into this, and in the sports

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Speaker 1: betting all around the nation. Uh, it's gonna have to

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Speaker 1: be more competitive about what you offered for odds. Is

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Speaker 1: that true? Well, look I think, um, you know Benny

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Speaker 1: in in In in your friend's case, and uh, you

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Speaker 1: know there was a fellow named Tony Fernakes who was

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Speaker 1: my dad's bookie back in Wilmington, Delaware, and uh, you know,

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Speaker 1: look at you know, I wouldn't write sympathy cards for

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Speaker 1: them quite yet, because you know, they don't pay taxes,

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Speaker 1: they're not subject to regulation, They've got decades along relationships

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Speaker 1: with their customers and sun circumstances they offer credit. Uh

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Speaker 1: and and so those are the things that the legal

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Speaker 1: market is going to have to compete with, uh to

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Speaker 1: migrate folks away from Benny and over to William l.

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Speaker 1: Tony and Benny don't have to worry about I think,

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Speaker 1: not quite yet. Joe ash Er, thank you so much.

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Speaker 1: You're listening to the Bloomberg Business of Sports Summit with

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Speaker 1: Carol Messer. Did you you Sen Kelly and Michael baron

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Speaker 1: Bloomberg Radio or Business of Sports. I'm a Carol Master.

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Speaker 1: Michael Barr, Jason Kelly going to join us shortly. So

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Speaker 1: our next guest brought Thursday Night Football to Twitter that

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Speaker 1: we're really putting Twitter on the sports map map. But

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Speaker 1: keep in mind that Twitter has so many relationships with

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Speaker 1: pretty much all of the top sports leagues. Let's get

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Speaker 1: into it with Laura fro Like. She's Senior Director Head

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Speaker 1: of US Content Partnerships at Twitter, former global head for

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Speaker 1: Sports Partnerships. You do it all, don't you. I have

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Speaker 1: a great time doing it. Yeah, and we should say

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Speaker 1: that Bloomberg also partners with Twitter on the global news

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Speaker 1: feed TikTok Um. I'm always curious about the sports partnership.

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Speaker 1: She just gotta be everywhere, don't you. Well, you know,

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Speaker 1: at Twitter as a platform, we have incredible fans who

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Speaker 1: are everywhere, and I think because of the nature of

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Speaker 1: our platform being a global, open conversational platform, we do

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Speaker 1: have that fandom coming from everywhere. And I think that's

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Speaker 1: a great value proposition to our partners because they are

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Speaker 1: looking to expand their footprint. They know that their fans

429
00:22:03,280 --> 00:22:06,280
Speaker 1: aren't necessarily all based here in the US, and they're

430
00:22:06,280 --> 00:22:08,639
Speaker 1: looking to expand and and Twitter is really a great

431
00:22:08,720 --> 00:22:11,119
Speaker 1: platform that helps them do that. On a basic level.

432
00:22:11,160 --> 00:22:14,320
Speaker 1: I remember a long time ago when Twitter came out

433
00:22:14,600 --> 00:22:17,800
Speaker 1: and I used a quote from an athlete on Twitter

434
00:22:18,280 --> 00:22:22,600
Speaker 1: and got dressed downs like we never quote twitters like

435
00:22:22,720 --> 00:22:26,600
Speaker 1: blah blah blah. Well now that is all changed because

436
00:22:26,840 --> 00:22:30,639
Speaker 1: athletes have realized, hey, this is the best way to

437
00:22:30,760 --> 00:22:34,040
Speaker 1: get my side out to all the people. Yeah. I mean,

438
00:22:34,080 --> 00:22:36,840
Speaker 1: it's a really fantastic opportunity, to your point, to have

439
00:22:37,119 --> 00:22:39,840
Speaker 1: a direct connection to your fans. Um. You know, you

440
00:22:39,880 --> 00:22:41,840
Speaker 1: can speak in your own voice, you can hear how

441
00:22:41,880 --> 00:22:45,000
Speaker 1: they're feeling. Um. It's a really great sort of symbiotic

442
00:22:45,240 --> 00:22:47,800
Speaker 1: relationship that the fans can have with their favorite athletes.

443
00:22:47,840 --> 00:22:50,240
Speaker 1: And another thing that was really fun about it is

444
00:22:50,240 --> 00:22:52,800
Speaker 1: that the athletes can connect with each other and talk

445
00:22:52,880 --> 00:22:55,320
Speaker 1: to each other, and we as fans can see that

446
00:22:55,440 --> 00:22:57,960
Speaker 1: happening too. That's super fun. Yeah, right, being and we

447
00:22:57,960 --> 00:22:59,720
Speaker 1: were just talking about activism, right, and this is a

448
00:22:59,760 --> 00:23:02,120
Speaker 1: way for like players to kind of support each other.

449
00:23:02,280 --> 00:23:05,240
Speaker 1: I'm curious, did you guys got into the world of sports.

450
00:23:05,960 --> 00:23:09,520
Speaker 1: Where are you seeing the most activity, the most significant

451
00:23:09,520 --> 00:23:12,480
Speaker 1: trends growth. Is it from the sports players, is it

452
00:23:12,520 --> 00:23:15,000
Speaker 1: from fan reactions, is it from the games itself? What

453
00:23:15,040 --> 00:23:17,000
Speaker 1: are you seeing? It's really all of the above, And

454
00:23:17,000 --> 00:23:20,040
Speaker 1: I think what really helps our partners be successful on

455
00:23:20,080 --> 00:23:23,320
Speaker 1: our platform, is they and we really listen to the

456
00:23:23,320 --> 00:23:26,720
Speaker 1: conversation that's happening so that we can then advise them

457
00:23:27,200 --> 00:23:30,119
Speaker 1: on what's the kind of content that our fans have

458
00:23:30,320 --> 00:23:34,000
Speaker 1: the biggest appetite for, so then they can we use

459
00:23:34,080 --> 00:23:36,920
Speaker 1: that to inform here's the kinds of content that's going

460
00:23:36,960 --> 00:23:40,199
Speaker 1: to get the most engagement from the most frankly, the

461
00:23:40,200 --> 00:23:43,520
Speaker 1: most valuable audience when they're the most receptive. Given the

462
00:23:43,600 --> 00:23:46,760
Speaker 1: nature of Twitter, really there are other platforms out there

463
00:23:46,840 --> 00:23:50,720
Speaker 1: that are very much look at me, whereas Twitter is

464
00:23:50,840 --> 00:23:53,800
Speaker 1: very much look at this and all the conversation that's

465
00:23:53,840 --> 00:23:56,159
Speaker 1: happening around it. So we take advantage of that. So

466
00:23:56,200 --> 00:24:00,640
Speaker 1: which kind of content actually gets the most responsive is yeah.

467
00:24:00,640 --> 00:24:02,520
Speaker 1: I mean, what we're talking to our partners about now

468
00:24:02,560 --> 00:24:04,679
Speaker 1: and what you saw us announced, for example with the

469
00:24:04,760 --> 00:24:09,960
Speaker 1: NBA recently, is content that is complementary, not competitive, to

470
00:24:10,119 --> 00:24:13,800
Speaker 1: what they're already doing on broadcast. Twitter has always been

471
00:24:13,840 --> 00:24:17,600
Speaker 1: that fantastic second screen that you can be with other

472
00:24:17,640 --> 00:24:21,120
Speaker 1: fans talking about the games while they're happening. We're continuing

473
00:24:21,160 --> 00:24:25,359
Speaker 1: that with the ability to vote on an ISO cam

474
00:24:25,480 --> 00:24:28,639
Speaker 1: for the second half of twenty NBA games. This season.

475
00:24:29,240 --> 00:24:31,800
Speaker 1: So you know, they put a vote out for for

476
00:24:31,800 --> 00:24:35,119
Speaker 1: four players and then the winning player gets the ISO

477
00:24:35,160 --> 00:24:37,320
Speaker 1: cam for the second half of the games. Wait a minute,

478
00:24:37,320 --> 00:24:42,800
Speaker 1: old man bar and he sure ISO cam explain that

479
00:24:42,880 --> 00:24:47,400
Speaker 1: to me? Yes, of course, So the the NBA will

480
00:24:47,400 --> 00:24:49,760
Speaker 1: put out a vote and actually our partners at Turner

481
00:24:49,800 --> 00:24:52,640
Speaker 1: as well NBA on t nt uh they say, which

482
00:24:52,680 --> 00:24:56,720
Speaker 1: of these four players you know lebron Um, Russell Westbrook,

483
00:24:56,840 --> 00:24:59,720
Speaker 1: Steph Curry, Um Jiannice, you know, which one of them

484
00:24:59,760 --> 00:25:03,560
Speaker 1: do you want to see on uh? Just them playing?

485
00:25:03,560 --> 00:25:04,920
Speaker 1: You know, so the game is going on and brought

486
00:25:04,920 --> 00:25:07,480
Speaker 1: on a linear broadcast, but you want to focus specifically

487
00:25:07,480 --> 00:25:10,280
Speaker 1: on this one player. Um, you can do that for

488
00:25:10,359 --> 00:25:12,800
Speaker 1: the second half of the game for the winning so

489
00:25:12,960 --> 00:25:15,960
Speaker 1: you can just constantly see them playing the whole game.

490
00:25:16,040 --> 00:25:19,399
Speaker 1: And we also have commentators who are part of the

491
00:25:19,600 --> 00:25:22,760
Speaker 1: NBA Twitter community so that people have been engaging with

492
00:25:22,840 --> 00:25:25,879
Speaker 1: them for for years on the platform. They're the commentators

493
00:25:25,920 --> 00:25:29,960
Speaker 1: that that provide that extra context during that isokam as well.

494
00:25:30,200 --> 00:25:32,160
Speaker 1: Oh my goodness, this is going to grow because this

495
00:25:32,200 --> 00:25:34,159
Speaker 1: is not just gonna be just one This is going

496
00:25:34,240 --> 00:25:37,239
Speaker 1: to be for several athletes down the route at the

497
00:25:37,280 --> 00:25:40,719
Speaker 1: same game at the same time potentially, right, you think

498
00:25:40,760 --> 00:25:43,359
Speaker 1: about customized viewing, right, So it's like, here's the player

499
00:25:43,400 --> 00:25:45,920
Speaker 1: I want to watch and that's it. We're doing something

500
00:25:45,920 --> 00:25:48,640
Speaker 1: similar with the PGA Tour. So we it's fan vote

501
00:25:48,640 --> 00:25:53,160
Speaker 1: Friday's um. So on Friday's Golf, Twitter can vote on

502
00:25:53,880 --> 00:25:56,760
Speaker 1: the featured group that is uh that is live streamed

503
00:25:56,800 --> 00:26:01,040
Speaker 1: on Twitter. Does it monetize? It does in spade, So

504
00:26:01,200 --> 00:26:06,840
Speaker 1: that that's kind of things that we because, right, well, no, right,

505
00:26:06,840 --> 00:26:09,720
Speaker 1: because you know, right, I mean, I love Twitter, I

506
00:26:09,760 --> 00:26:11,719
Speaker 1: love it, but you know, the argument has been how

507
00:26:11,760 --> 00:26:14,040
Speaker 1: do you guys monetize it? There's tons of people using it.

508
00:26:14,359 --> 00:26:17,159
Speaker 1: It's amazing how it guides the conversation, whether it's sports

509
00:26:17,200 --> 00:26:19,520
Speaker 1: with its general news, but how do you monetize it?

510
00:26:19,840 --> 00:26:22,960
Speaker 1: So we have a sponsorship model that has been very

511
00:26:23,000 --> 00:26:25,320
Speaker 1: successful that we've built over the course of the last

512
00:26:25,800 --> 00:26:30,080
Speaker 1: over five years. So brands obviously want to be associated

513
00:26:30,119 --> 00:26:32,960
Speaker 1: with this premium content. They also want to reach the

514
00:26:33,040 --> 00:26:36,320
Speaker 1: incredibly valuable audience that's on Twitter. So we give them

515
00:26:36,400 --> 00:26:40,800
Speaker 1: the opportunity to have their advertisement be the pre role

516
00:26:40,840 --> 00:26:44,000
Speaker 1: in front of the video highlights and the live streams,

517
00:26:44,400 --> 00:26:47,160
Speaker 1: and then they get to distribute that content from these

518
00:26:47,160 --> 00:26:51,359
Speaker 1: premium publishers to their targeted audiences across our platform. So

519
00:26:51,480 --> 00:26:54,440
Speaker 1: not only the people who are following the NBA, for example,

520
00:26:55,160 --> 00:26:58,960
Speaker 1: but they can target the folks who are interested in NBA,

521
00:26:59,119 --> 00:27:01,879
Speaker 1: who are um likely to buy their product, you know,

522
00:27:01,920 --> 00:27:04,800
Speaker 1: all the sophisticated targeting capabilities that Twitter has or at

523
00:27:04,840 --> 00:27:08,000
Speaker 1: their disposal, and then they can deliver the content of fans.

524
00:27:08,240 --> 00:27:10,800
Speaker 1: If my leg is shaking just because I can see

525
00:27:10,840 --> 00:27:13,639
Speaker 1: the excitement of what's going on, That's that's why the

526
00:27:13,720 --> 00:27:16,600
Speaker 1: whole thing was shaking. It What this means not only

527
00:27:16,680 --> 00:27:19,560
Speaker 1: just the player obviously, with any team you want, because

528
00:27:19,600 --> 00:27:23,240
Speaker 1: you can go anywhere, not just any state around the world.

529
00:27:23,320 --> 00:27:25,600
Speaker 1: If I want to see the Detroit Pistons lose, I

530
00:27:25,600 --> 00:27:28,480
Speaker 1: can go ahead and or win. I should say that

531
00:27:30,119 --> 00:27:32,959
Speaker 1: I can see them anywhere, any place, anytime. When you

532
00:27:33,000 --> 00:27:35,160
Speaker 1: guys set this up on Twitter, yeah, yeah, I mean.

533
00:27:35,280 --> 00:27:37,920
Speaker 1: And I also think it's it's worth pointing out that

534
00:27:38,280 --> 00:27:41,399
Speaker 1: even you know, all along, Twitter has been able to

535
00:27:41,440 --> 00:27:43,840
Speaker 1: provide that to you, right because we've had the conversation

536
00:27:44,320 --> 00:27:47,400
Speaker 1: around these games and around these teams and around these players,

537
00:27:48,320 --> 00:27:50,880
Speaker 1: you know, for time immemorial, and so now it's being

538
00:27:50,960 --> 00:27:55,000
Speaker 1: enhanced even further with you know, live video content, highlights

539
00:27:55,119 --> 00:27:57,680
Speaker 1: and and such. So it's just taking it what has

540
00:27:57,720 --> 00:27:59,560
Speaker 1: always been there to that next level. What are you

541
00:27:59,600 --> 00:28:02,480
Speaker 1: missing in terms of the sports world because you pretty

542
00:28:02,560 --> 00:28:05,000
Speaker 1: much have you locked up all the agreements or there's

543
00:28:05,000 --> 00:28:06,960
Speaker 1: always more out there. Yeah, I mean, you know, we

544
00:28:07,040 --> 00:28:10,320
Speaker 1: are doing all kinds of deals all the time, and

545
00:28:10,359 --> 00:28:11,960
Speaker 1: you know, we started the year with a bang, and

546
00:28:12,000 --> 00:28:16,240
Speaker 1: we are not slowing down at all. Um One actually

547
00:28:16,240 --> 00:28:18,920
Speaker 1: in particular that I'm really proud of as we recently

548
00:28:18,960 --> 00:28:22,960
Speaker 1: announced our partnership with Adidas. The latest edition of that

549
00:28:23,040 --> 00:28:26,240
Speaker 1: partnership with Adidas and Inner Sport is to live stream

550
00:28:26,880 --> 00:28:30,880
Speaker 1: girls high school sports. So in the US, Yeah, only

551
00:28:30,920 --> 00:28:34,199
Speaker 1: four percent of sports media coverage in the US is

552
00:28:34,240 --> 00:28:36,879
Speaker 1: dedicated to women's sports, and so I'm really proud that

553
00:28:36,960 --> 00:28:39,680
Speaker 1: Adidas and Twitter are partnering together on core. On my part,

554
00:28:39,760 --> 00:28:42,840
Speaker 1: that's great stuff, Laura, thank you so much for dropping by.

555
00:28:43,000 --> 00:28:46,160
Speaker 1: You're listening to the Bloomberg Business of Sports Summer with

556
00:28:46,320 --> 00:28:50,240
Speaker 1: Carol Messer, Jason and Kelly and Michael bar on Bloomberg Radio.

557
00:28:52,640 --> 00:28:55,000
Speaker 1: We're having a good time talking to a lot of

558
00:28:55,000 --> 00:28:58,520
Speaker 1: people here about the sports world. And we have a man.

559
00:28:59,040 --> 00:29:02,240
Speaker 1: Now I'm gonna to the last name. Look, I'm you know,

560
00:29:02,400 --> 00:29:06,640
Speaker 1: dropping naming Nate. Yeah, but there's a gentleman here who

561
00:29:06,840 --> 00:29:11,240
Speaker 1: uh has a very famous son who also played in

562
00:29:11,280 --> 00:29:14,280
Speaker 1: the National Football League, Oliver Luck and he is now

563
00:29:14,320 --> 00:29:18,040
Speaker 1: the commissioner and the CEO of the XFL. Thank you,

564
00:29:18,080 --> 00:29:21,000
Speaker 1: Servan joining us, Michael, I'm glad to be here. Jason,

565
00:29:21,000 --> 00:29:24,240
Speaker 1: how are you doing very well? Well, We're so excited

566
00:29:24,240 --> 00:29:26,400
Speaker 1: to have you here, in part because we are on

567
00:29:26,640 --> 00:29:29,960
Speaker 1: the verge of seeing the XFL all over again. Tell

568
00:29:30,040 --> 00:29:34,360
Speaker 1: us why now, So there was the XFL two thousand

569
00:29:34,360 --> 00:29:36,960
Speaker 1: and one. Football fans remember, A lot of folks don't,

570
00:29:37,000 --> 00:29:39,360
Speaker 1: and it wasn't quite honestly a good look in terms

571
00:29:39,400 --> 00:29:42,080
Speaker 1: of football. But Vince McMahon about a year ago announced

572
00:29:42,120 --> 00:29:44,800
Speaker 1: that he wanted to relaunch the XFL. I think for

573
00:29:44,840 --> 00:29:47,440
Speaker 1: a number of reasons. But the league that we are

574
00:29:47,480 --> 00:29:50,440
Speaker 1: in the process of building will launch February of twenty

575
00:29:50,480 --> 00:29:52,720
Speaker 1: the weekend after the Super Bowl. The league that we're

576
00:29:52,720 --> 00:29:54,360
Speaker 1: in the process of building is going to be a

577
00:29:54,480 --> 00:29:58,640
Speaker 1: league for serious football fans where the game has taken seriously. Uh.

578
00:29:58,680 --> 00:30:01,040
Speaker 1: It's an up tempo, fast pace kind of a game,

579
00:30:01,120 --> 00:30:04,240
Speaker 1: fewer breaks, fewer stoppages. That's one of the things that

580
00:30:04,280 --> 00:30:07,800
Speaker 1: football fans complain about. We've got some innovations that we're

581
00:30:07,840 --> 00:30:10,560
Speaker 1: looking at doing, but things that we believe will improve

582
00:30:10,640 --> 00:30:12,480
Speaker 1: the game. And it's a tough game to improve because

583
00:30:12,600 --> 00:30:15,080
Speaker 1: right now, I believe, as many fans do that you know,

584
00:30:15,080 --> 00:30:18,640
Speaker 1: whether it's the NFL or major college football, it's probably

585
00:30:18,680 --> 00:30:20,840
Speaker 1: at an all time high in terms of the of

586
00:30:20,920 --> 00:30:23,160
Speaker 1: the way the game is being played, in the quality

587
00:30:23,200 --> 00:30:25,040
Speaker 1: of the game. So we think that there are a

588
00:30:25,080 --> 00:30:26,720
Speaker 1: number of places that we can innovate and be a

589
00:30:26,760 --> 00:30:29,040
Speaker 1: little bit different. Now, I did like he hate me,

590
00:30:29,080 --> 00:30:31,920
Speaker 1: remember that. That was good. I did remember that back

591
00:30:31,960 --> 00:30:35,520
Speaker 1: in the day. But that guy, that guy whose real

592
00:30:35,640 --> 00:30:38,000
Speaker 1: name was Rod Smart, he played in the Super Bowl.

593
00:30:38,040 --> 00:30:40,480
Speaker 1: He was a good football player, played for the Panthers

594
00:30:40,520 --> 00:30:42,920
Speaker 1: when they went to the Super Bowl back in I

595
00:30:42,960 --> 00:30:45,920
Speaker 1: think it's two thousand four, maybe so, but a solid

596
00:30:46,040 --> 00:30:49,040
Speaker 1: a solid player. But that was overshadowed by you know,

597
00:30:49,080 --> 00:30:51,760
Speaker 1: the nickname on the back of the jersey. That's something

598
00:30:51,800 --> 00:30:55,160
Speaker 1: though about the the the uh that league back then

599
00:30:55,200 --> 00:30:58,240
Speaker 1: and then now today you mentioned will be more serious.

600
00:30:58,240 --> 00:31:00,320
Speaker 1: But there was some fun moments. What we see something

601
00:31:00,360 --> 00:31:02,360
Speaker 1: like that. Oh yeah, they'll I mean I think I

602
00:31:02,400 --> 00:31:05,040
Speaker 1: think we'll have plenty of fun moments, and again we'll

603
00:31:05,040 --> 00:31:06,680
Speaker 1: do some things that are that are different. What we

604
00:31:06,760 --> 00:31:09,800
Speaker 1: don't want to do is have gimmicks. Right, Americans care

605
00:31:10,200 --> 00:31:13,480
Speaker 1: about football. It's become sort of our secular religion. Right

606
00:31:13,480 --> 00:31:16,200
Speaker 1: in our stadiums are our cathedrals in the sense, so

607
00:31:16,240 --> 00:31:18,680
Speaker 1: they really care deeply about the game. So I think

608
00:31:18,680 --> 00:31:21,840
Speaker 1: we want to avoid anything that sort of smacks of gimmickery.

609
00:31:22,280 --> 00:31:24,560
Speaker 1: But that again doesn't mean we can't innovate and do

610
00:31:24,640 --> 00:31:26,560
Speaker 1: some things that are a little bit different. Think about

611
00:31:26,600 --> 00:31:29,960
Speaker 1: a two thousand and one nobody was worried about head trauma,

612
00:31:30,560 --> 00:31:33,680
Speaker 1: and now and now in today's football world, NFL College,

613
00:31:33,720 --> 00:31:35,840
Speaker 1: Pop Warner High School, you name it, there's a you know,

614
00:31:35,920 --> 00:31:38,320
Speaker 1: serious legitimate concern. So we want to make sure that

615
00:31:38,360 --> 00:31:40,840
Speaker 1: we're doing things that makes sense from health, health and

616
00:31:40,880 --> 00:31:43,800
Speaker 1: safety perspective as well. So in the perspective or in

617
00:31:43,840 --> 00:31:47,920
Speaker 1: the category of world's colliding. We have another UH league

618
00:31:47,920 --> 00:31:52,040
Speaker 1: that has started out, the Alliance UH and Charlie ever Saw,

619
00:31:52,400 --> 00:31:55,640
Speaker 1: I believe, did a documentary about the XFL. So all

620
00:31:55,720 --> 00:32:00,280
Speaker 1: that this football world is a small one where where

621
00:32:00,280 --> 00:32:03,160
Speaker 1: does the XFL fit in with the alliance which has

622
00:32:03,160 --> 00:32:05,400
Speaker 1: gotten underway, and and how does it all sort of

623
00:32:05,440 --> 00:32:09,200
Speaker 1: coexist in this football universe. So the rationale for our

624
00:32:09,280 --> 00:32:11,800
Speaker 1: game is that there are eighty five million football fans

625
00:32:11,800 --> 00:32:14,240
Speaker 1: in this country, forty million, almost half of whom are

626
00:32:14,360 --> 00:32:17,440
Speaker 1: die hard passionate fans. And we're gonna go into these

627
00:32:17,480 --> 00:32:21,680
Speaker 1: markets New York, Washington, d C, Dallas, Houston, Seattle where

628
00:32:21,720 --> 00:32:25,280
Speaker 1: we've got real passionate fans. So those are markets where

629
00:32:25,320 --> 00:32:27,440
Speaker 1: the other league is not in there. Playing in some

630
00:32:27,520 --> 00:32:31,680
Speaker 1: of the smaller markets like San Antonio or Salt Lake City,

631
00:32:32,000 --> 00:32:34,959
Speaker 1: I think they've chosen a little bit of a different strategy. So, uh,

632
00:32:35,320 --> 00:32:39,040
Speaker 1: I think there's plenty of football right in terms of

633
00:32:39,560 --> 00:32:41,920
Speaker 1: the ability of the American fan to really enjoy the

634
00:32:41,920 --> 00:32:44,600
Speaker 1: game and appreciate the game. I I've I've been using

635
00:32:44,640 --> 00:32:47,440
Speaker 1: the analogy in the fall right when football is you know,

636
00:32:47,480 --> 00:32:50,360
Speaker 1: every Friday, every Saturday, everything. Nobody says, well, there's too

637
00:32:50,400 --> 00:32:52,320
Speaker 1: much college football, so we should get rid of the

638
00:32:52,560 --> 00:32:55,120
Speaker 1: Big ten and just have the SEC right, you know,

639
00:32:55,160 --> 00:32:57,360
Speaker 1: people don't say that, So my sense would be that

640
00:32:57,360 --> 00:32:59,520
Speaker 1: that there's plenty of space for all of us to

641
00:32:59,520 --> 00:33:02,680
Speaker 1: to to coexists. We are focused on our markets and

642
00:33:02,680 --> 00:33:04,600
Speaker 1: and and we've watched the Alliance and I think they've

643
00:33:04,640 --> 00:33:07,800
Speaker 1: done some things very well, some other things that I

644
00:33:07,840 --> 00:33:10,280
Speaker 1: didn't think went so well. But h I think we've

645
00:33:10,320 --> 00:33:12,880
Speaker 1: got our own business plan on our own sort of ideals. Well,

646
00:33:12,920 --> 00:33:15,120
Speaker 1: I bring up gambling a lot because I'm a heathen,

647
00:33:15,280 --> 00:33:17,920
Speaker 1: and uh I am, so I'm going to bring up this.

648
00:33:20,400 --> 00:33:25,040
Speaker 1: Will the XFL get involved in that? With gambling at

649
00:33:25,080 --> 00:33:27,680
Speaker 1: casinos and online and things like that. So all the

650
00:33:27,720 --> 00:33:30,240
Speaker 1: sports leagues, right from those that are very well established

651
00:33:30,240 --> 00:33:32,280
Speaker 1: like the NFL and the NBA down to you know,

652
00:33:32,320 --> 00:33:34,680
Speaker 1: brand new leagues like ours, we're all trying to figure

653
00:33:34,720 --> 00:33:36,800
Speaker 1: out what it means to be involved. We all want

654
00:33:36,800 --> 00:33:40,400
Speaker 1: to offer a league with integrity, right, and consistency so

655
00:33:40,440 --> 00:33:43,560
Speaker 1: that folks do want to in fact gamble wager right,

656
00:33:43,600 --> 00:33:45,640
Speaker 1: and you know, we want Vegas to put a line

657
00:33:45,640 --> 00:33:48,040
Speaker 1: on our games, which is difficult for a brand new league.

658
00:33:48,040 --> 00:33:50,480
Speaker 1: The Alliances finding that out I think as well. But

659
00:33:50,560 --> 00:33:53,840
Speaker 1: in terms of what else one does with you know,

660
00:33:53,960 --> 00:33:58,440
Speaker 1: the casinos, the casino industry, the gambling industry, that's all

661
00:33:58,520 --> 00:34:01,560
Speaker 1: being figured out, and that's you know, taking a relatively

662
00:34:01,600 --> 00:34:04,440
Speaker 1: slow pace because of the state by state nature you

663
00:34:04,480 --> 00:34:06,920
Speaker 1: know of this, so things will be a little bit different.

664
00:34:07,040 --> 00:34:09,640
Speaker 1: We launched in February of twenty but I don't think

665
00:34:09,640 --> 00:34:13,000
Speaker 1: it will be that much clearer in terms of whether

666
00:34:13,200 --> 00:34:16,080
Speaker 1: you know, gambling in the Supreme Court decision from about

667
00:34:16,080 --> 00:34:18,880
Speaker 1: a year ago, Uh, is any sort of panacea. I

668
00:34:18,920 --> 00:34:20,880
Speaker 1: don't believe it is. It's not any sort of a

669
00:34:20,880 --> 00:34:24,520
Speaker 1: panacea or a cure for anybody who's ailing. And I

670
00:34:24,560 --> 00:34:26,600
Speaker 1: think all of us established leagues as well as non

671
00:34:26,719 --> 00:34:28,879
Speaker 1: established leagues, fallow in that category. I want to ask

672
00:34:28,920 --> 00:34:30,960
Speaker 1: you about the n c double A. You worked there

673
00:34:31,000 --> 00:34:32,960
Speaker 1: for a time, and it does feel like that's one

674
00:34:33,000 --> 00:34:34,960
Speaker 1: of the for lack of better terms, sort of attention

675
00:34:35,040 --> 00:34:39,520
Speaker 1: points right now around amateurs, around safety and and sort

676
00:34:39,560 --> 00:34:44,400
Speaker 1: of how that amateur and and that element of football

677
00:34:44,440 --> 00:34:47,959
Speaker 1: coexists with with professional football. What did you learn there

678
00:34:48,040 --> 00:34:50,840
Speaker 1: that informs how you will run it in terms of

679
00:34:50,840 --> 00:34:53,560
Speaker 1: player safety, in terms of sort of player longevity, all

680
00:34:53,600 --> 00:34:56,040
Speaker 1: those things that people really care about. Sure, so I

681
00:34:56,040 --> 00:34:57,560
Speaker 1: think I learned a couple of things. Is that one,

682
00:34:57,640 --> 00:35:00,480
Speaker 1: it's very hard to make an NFL roster. There's only

683
00:35:00,560 --> 00:35:03,000
Speaker 1: fifty three active players in that roster. And you guys know,

684
00:35:03,040 --> 00:35:05,560
Speaker 1: the average careers like three point six or three point

685
00:35:05,640 --> 00:35:08,400
Speaker 1: seven years. And what I've learned is college football has

686
00:35:08,440 --> 00:35:10,640
Speaker 1: gotten a lot better the last twenty three years. There's

687
00:35:10,680 --> 00:35:13,080
Speaker 1: a whole bunch of guys that still want to play.

688
00:35:13,120 --> 00:35:14,839
Speaker 1: I think there's a I don't know, four or five

689
00:35:14,920 --> 00:35:17,400
Speaker 1: year period when a guy gets out of college and

690
00:35:17,440 --> 00:35:20,120
Speaker 1: has finished playing college football where he still wants to play,

691
00:35:20,320 --> 00:35:23,000
Speaker 1: sort of regardless if you will, of the salaries, regardless

692
00:35:23,040 --> 00:35:26,279
Speaker 1: of the motivation, the financial motivation. I think I learned that.

693
00:35:26,320 --> 00:35:28,200
Speaker 1: I also think I learned that the n c double A,

694
00:35:28,320 --> 00:35:31,600
Speaker 1: because it's not a professional league, had to really, you know,

695
00:35:31,680 --> 00:35:34,280
Speaker 1: in a very sincere way look at the head trauma

696
00:35:34,320 --> 00:35:38,160
Speaker 1: issue and make decisions like, let's prohibit two days because

697
00:35:38,160 --> 00:35:40,440
Speaker 1: that's not a good thing for you know, And they

698
00:35:40,480 --> 00:35:42,680
Speaker 1: did that right. Uh. The NFL did it as well,

699
00:35:42,680 --> 00:35:44,919
Speaker 1: but they did it through the collective bargaining process, where

700
00:35:44,920 --> 00:35:46,320
Speaker 1: I think it was more a case of the veterans

701
00:35:46,320 --> 00:35:48,800
Speaker 1: didn't want to have to practices the day because you know,

702
00:35:48,840 --> 00:35:51,239
Speaker 1: they want to save their bodies for the season. So

703
00:35:51,320 --> 00:35:53,680
Speaker 1: there's a number of things I think I've learned. Ultimately,

704
00:35:53,719 --> 00:35:57,680
Speaker 1: I think because our players at least initially won't be unionized.

705
00:35:58,000 --> 00:35:59,880
Speaker 1: I think I have to sort of look out as

706
00:35:59,880 --> 00:36:02,680
Speaker 1: a commissioner for our players, much the way you know

707
00:36:02,719 --> 00:36:05,200
Speaker 1: a coach or an athletic director at a school looks

708
00:36:05,239 --> 00:36:08,399
Speaker 1: out for you know, the scholarship players, which make sure

709
00:36:08,440 --> 00:36:10,200
Speaker 1: that you know they're well taken care of in terms

710
00:36:10,280 --> 00:36:13,640
Speaker 1: of me hols in healthcare and all those sorts of things. Right,

711
00:36:13,680 --> 00:36:15,920
Speaker 1: That's that is our human capital. And I think we

712
00:36:16,000 --> 00:36:18,920
Speaker 1: have to probably be a little bit sort of you know, paternalistic,

713
00:36:19,440 --> 00:36:21,200
Speaker 1: which sometimes can get a bad rap. But I think

714
00:36:21,200 --> 00:36:22,960
Speaker 1: we have to be a little bit paternalistic because we

715
00:36:23,000 --> 00:36:25,800
Speaker 1: don't have a union to negotiate the terms and conditions

716
00:36:25,840 --> 00:36:29,319
Speaker 1: of of of employment. Oliver Luck, commissioner and CEO of

717
00:36:29,360 --> 00:36:31,720
Speaker 1: the XFL, and I have to say, as a former

718
00:36:31,760 --> 00:36:35,600
Speaker 1: Houstonian living in Houston in the eighties, former Houston oiler,

719
00:36:35,719 --> 00:36:38,480
Speaker 1: well very good. Thank you for remembering that not many

720
00:36:38,520 --> 00:36:41,759
Speaker 1: people do. And Oliver Luck, thank you so much. Good

721
00:36:41,840 --> 00:36:43,799
Speaker 1: luck to you. We hope to catch up with you

722
00:36:43,960 --> 00:36:48,960
Speaker 1: soon as especially as the season gets underway. You're listening

723
00:36:49,000 --> 00:36:52,240
Speaker 1: to the Bloomberg Business of Sports summon, but Carol Mester,

724
00:36:52,480 --> 00:36:56,399
Speaker 1: Jason Kelly, and Michael Ball on Bloomberg Radio. All right,

725
00:36:56,520 --> 00:36:59,560
Speaker 1: so let's turn to our next guests, Michael if we can.

726
00:37:00,160 --> 00:37:02,480
Speaker 1: A friend of the show of sorts, I've got to

727
00:37:02,480 --> 00:37:04,279
Speaker 1: know him a bit over the years. Don Cornwell, he's

728
00:37:04,280 --> 00:37:07,640
Speaker 1: a partner over at p j T Partners, knows all

729
00:37:07,680 --> 00:37:10,440
Speaker 1: the ins and outs of the sports business world. We've

730
00:37:10,440 --> 00:37:13,040
Speaker 1: talked a lot over the years. Done, thank you for

731
00:37:13,160 --> 00:37:16,320
Speaker 1: joining us. Good to see you guys. All right, so

732
00:37:16,520 --> 00:37:19,040
Speaker 1: I want to start actually where we just left off

733
00:37:19,080 --> 00:37:21,680
Speaker 1: with Oliver Luck. He's got a new football league. There's

734
00:37:21,680 --> 00:37:24,839
Speaker 1: another new football league, the Alliance. We're gonna talk later

735
00:37:24,840 --> 00:37:27,840
Speaker 1: with Paul Rabel, who's creating a new lacrosse league. Is

736
00:37:27,840 --> 00:37:29,560
Speaker 1: it a good time to be starting all these leagues?

737
00:37:29,600 --> 00:37:32,319
Speaker 1: You know this business better than anyone. It's the best time. Uh.

738
00:37:32,800 --> 00:37:37,279
Speaker 1: You really are in an era where content can come

739
00:37:37,280 --> 00:37:41,480
Speaker 1: in any sort and do quite well. The distribution methodologies

740
00:37:41,480 --> 00:37:44,680
Speaker 1: are their right. People are used to finding what they

741
00:37:44,680 --> 00:37:47,000
Speaker 1: want to see. So if you're a football addict, you

742
00:37:47,040 --> 00:37:49,560
Speaker 1: can watch much football. You can watch XFL when it starts,

743
00:37:49,680 --> 00:37:52,960
Speaker 1: starts up a f as Oliver talked about. You can

744
00:37:52,960 --> 00:37:55,000
Speaker 1: watch all the various college conference leagues and you can

745
00:37:55,000 --> 00:37:56,880
Speaker 1: get access to it and you just do it by

746
00:37:57,000 --> 00:37:59,640
Speaker 1: flipping on your Apple TV and searching around. And so

747
00:37:59,680 --> 00:38:01,600
Speaker 1: it's life a lot easy for those guys. You can

748
00:38:01,600 --> 00:38:03,719
Speaker 1: take any sport now. Me Back in the day, you

749
00:38:03,760 --> 00:38:05,759
Speaker 1: had to watch Wide World of Sports. You had to

750
00:38:05,800 --> 00:38:09,359
Speaker 1: watch the barrel Jumping Championships for about fifteen minutes and

751
00:38:09,400 --> 00:38:12,080
Speaker 1: that was it. Now you can take any sport and

752
00:38:12,120 --> 00:38:17,000
Speaker 1: you can air the entire contest, all the games, and

753
00:38:17,080 --> 00:38:19,280
Speaker 1: you can see that. And I guess the the big

754
00:38:19,320 --> 00:38:22,759
Speaker 1: thing that has happened involves the media rights involving all

755
00:38:22,760 --> 00:38:24,960
Speaker 1: of that. That's right. So you know, in the old

756
00:38:25,040 --> 00:38:28,920
Speaker 1: days there was three channels, four channels, five channels, and

757
00:38:28,960 --> 00:38:31,360
Speaker 1: they made a decision, I'm gonna place my bed on

758
00:38:31,400 --> 00:38:34,000
Speaker 1: the NFL or I'm gonna place my bed on the NBA.

759
00:38:34,680 --> 00:38:39,600
Speaker 1: Now there's all these various distribution networks who will say, look, well,

760
00:38:39,680 --> 00:38:42,720
Speaker 1: we'll we'll construct a creative deal, we'll do a revenue share,

761
00:38:43,000 --> 00:38:44,680
Speaker 1: we'll pay a little bit money, and if it works,

762
00:38:44,680 --> 00:38:46,719
Speaker 1: we'll pay more money because we know that there will

763
00:38:46,760 --> 00:38:48,640
Speaker 1: be people out there that will follow it. And with

764
00:38:48,719 --> 00:38:52,080
Speaker 1: YouTube you can actually see So take Lacross as an example.

765
00:38:52,480 --> 00:38:55,840
Speaker 1: If you go and look at the view numbers on

766
00:38:55,880 --> 00:38:57,920
Speaker 1: some of these lacrosse some of the lacrosse content. It's

767
00:38:57,960 --> 00:39:00,200
Speaker 1: massive numbers. And so people can say, Okay, I know

768
00:39:00,280 --> 00:39:02,320
Speaker 1: the fans are out there. If I get that content

769
00:39:02,400 --> 00:39:05,120
Speaker 1: to them, they'll they'll they'll absolutely take partner and I

770
00:39:05,120 --> 00:39:07,719
Speaker 1: can advertise around it. And to where are we in

771
00:39:07,840 --> 00:39:11,640
Speaker 1: terms as you look across the various leagues, where are

772
00:39:11,680 --> 00:39:14,040
Speaker 1: we in terms of valuations? They all seem to be

773
00:39:14,120 --> 00:39:17,440
Speaker 1: going up? Where values rising the fastest? You know, or

774
00:39:17,520 --> 00:39:19,520
Speaker 1: just a few minutes ago before I came over to

775
00:39:19,520 --> 00:39:21,800
Speaker 1: to this show is Done TV talking to Mark Lazzarie.

776
00:39:22,000 --> 00:39:25,120
Speaker 1: He's clearly very happy with his investment in the in

777
00:39:25,160 --> 00:39:28,680
Speaker 1: the Milwaukee Bucks. Uh, the NBA franchises seem to just

778
00:39:28,719 --> 00:39:31,080
Speaker 1: be going up and up. NFL obviously has been there

779
00:39:31,120 --> 00:39:35,320
Speaker 1: for a while. Where's the value and how how fast

780
00:39:35,400 --> 00:39:37,600
Speaker 1: can we expect this and how long can we expect

781
00:39:37,600 --> 00:39:40,280
Speaker 1: this to keep growing? We're still on that ride. Uh.

782
00:39:40,520 --> 00:39:42,960
Speaker 1: You know, look, I think across all the sports you're

783
00:39:43,000 --> 00:39:47,000
Speaker 1: seeing growth. I think the level of growth different whereas

784
00:39:47,080 --> 00:39:49,120
Speaker 1: in you know, the NFL, because you're a law of

785
00:39:49,200 --> 00:39:53,000
Speaker 1: large numbers, you're not seeing the growth numbers that you

786
00:39:53,000 --> 00:39:56,640
Speaker 1: saw historically. But you're still seeing numbers that outpaced the markets.

787
00:39:57,320 --> 00:40:00,520
Speaker 1: When you look at MLS uh and the growth with soccer,

788
00:40:00,560 --> 00:40:02,240
Speaker 1: and you just look at what's going on for example

789
00:40:02,280 --> 00:40:06,040
Speaker 1: in Atlanta, you know they're selling out football stadiums there. Uh.

790
00:40:06,080 --> 00:40:07,480
Speaker 1: You sort of have to look at it and say, Okay,

791
00:40:07,480 --> 00:40:09,879
Speaker 1: if I think about the demographics in this country, that's

792
00:40:09,920 --> 00:40:11,480
Speaker 1: kind of where the action is. And so you could

793
00:40:11,480 --> 00:40:13,200
Speaker 1: see some really big numbers. But I think you know,

794
00:40:13,239 --> 00:40:16,120
Speaker 1: whether it's the sports where they're talking basketball, baseball, football,

795
00:40:16,120 --> 00:40:17,920
Speaker 1: they're gonna continue to go up. And it's not just

796
00:40:18,000 --> 00:40:20,320
Speaker 1: the meteor RTEs, right. I think that the the challenge

797
00:40:20,320 --> 00:40:24,360
Speaker 1: has been people say, Okay, the meteorites, they're gonna plateau,

798
00:40:24,360 --> 00:40:26,520
Speaker 1: they're gonna level out a little bit. Well, there's other

799
00:40:26,560 --> 00:40:28,520
Speaker 1: sources of revenue. Now. What we're seeing is in the

800
00:40:28,520 --> 00:40:31,399
Speaker 1: world of data, uh, that that that the data that's

801
00:40:31,400 --> 00:40:33,880
Speaker 1: coming out of these leagues, that's intellectual property that they

802
00:40:33,880 --> 00:40:36,879
Speaker 1: can monetize. When you have sports betting, right, that that

803
00:40:36,920 --> 00:40:39,359
Speaker 1: creates a need for that data. That also creates increased interest.

804
00:40:39,440 --> 00:40:41,399
Speaker 1: People want a gamble on anything. If you look over

805
00:40:41,440 --> 00:40:45,000
Speaker 1: in Europe, people gamble on snooker, people gamble on darts, right,

806
00:40:45,040 --> 00:40:47,280
Speaker 1: So that creates an opportunity for all of these sports

807
00:40:47,560 --> 00:40:50,480
Speaker 1: to to continue to garner interest and to produce more

808
00:40:51,000 --> 00:40:57,320
Speaker 1: cash flow. Uh. Any sport, as we were talking about earlier,

809
00:40:57,400 --> 00:41:00,840
Speaker 1: can can generate a market, and like you just mentioned

810
00:41:00,840 --> 00:41:03,360
Speaker 1: the sports, that's something that has taken off. Even the

811
00:41:03,400 --> 00:41:06,799
Speaker 1: Simpsons now they've gotten into e sports. Your thoughts about

812
00:41:07,320 --> 00:41:09,840
Speaker 1: E sports is where it's at. Um If if you

813
00:41:09,880 --> 00:41:13,399
Speaker 1: look at just the amount that people game right now

814
00:41:13,440 --> 00:41:17,439
Speaker 1: and just put aside the professional gamers, just random human

815
00:41:17,480 --> 00:41:20,759
Speaker 1: beings walking down the street, they all game. Fifteen years ago,

816
00:41:21,040 --> 00:41:24,000
Speaker 1: we would play a board game twice three times a year, right,

817
00:41:24,000 --> 00:41:25,440
Speaker 1: and that was the extent of it. Then all of

818
00:41:25,480 --> 00:41:29,480
Speaker 1: a sudden we got these little devices that had Brickbreaker installed,

819
00:41:29,520 --> 00:41:32,080
Speaker 1: and so we started playing Brickbreaker. Now people are playing

820
00:41:32,120 --> 00:41:34,640
Speaker 1: candy Crush their gaming. And the next level of that

821
00:41:34,840 --> 00:41:37,400
Speaker 1: are things like Fortnite. When you walk in and you

822
00:41:37,440 --> 00:41:41,960
Speaker 1: see parties of thirty something folks playing Fortnite together, well,

823
00:41:42,040 --> 00:41:43,719
Speaker 1: it only makes sense that they're gonna want to watch

824
00:41:43,760 --> 00:41:45,880
Speaker 1: the best in the world. Uh. And that's what you

825
00:41:45,920 --> 00:41:48,080
Speaker 1: get with the sports, and so that you know, the

826
00:41:48,160 --> 00:41:52,200
Speaker 1: numbers we're seeing in terms of viewage are astounding. Given

827
00:41:52,200 --> 00:41:54,160
Speaker 1: how new these leagues are, and you take over watches

828
00:41:54,160 --> 00:41:57,239
Speaker 1: an example, yea there in year two, right, and and

829
00:41:57,719 --> 00:42:00,120
Speaker 1: you know the numbers that in the first month there

830
00:42:00,000 --> 00:42:03,319
Speaker 1: are tremendous and it's only going up, and you're seeing new,

831
00:42:03,440 --> 00:42:06,319
Speaker 1: new new games come out. Apex Legends is another one

832
00:42:06,320 --> 00:42:08,200
Speaker 1: that just started, and all of a sudden, numbers are

833
00:42:08,239 --> 00:42:11,000
Speaker 1: through the roof Fortnite. Fortnite is beyond a game, it's

834
00:42:11,000 --> 00:42:14,040
Speaker 1: a platform. Uh. And and so I think that we're

835
00:42:14,080 --> 00:42:16,200
Speaker 1: just in the early days of it. And it's a

836
00:42:16,239 --> 00:42:18,279
Speaker 1: whole different group of folks. It's not the folks that

837
00:42:18,320 --> 00:42:21,480
Speaker 1: were historically football fans and basketball fans. It's a whole

838
00:42:21,480 --> 00:42:24,279
Speaker 1: another group of folks who people in this room don't

839
00:42:24,320 --> 00:42:27,280
Speaker 1: typically touch. Uh. And that's the beauty of it because

840
00:42:27,320 --> 00:42:29,640
Speaker 1: it allows the folks who own the sports teams, the

841
00:42:29,640 --> 00:42:31,759
Speaker 1: traditional sports teams to cross market to a whole new

842
00:42:32,239 --> 00:42:34,239
Speaker 1: group of group of fans. So where do you make

843
00:42:34,280 --> 00:42:36,440
Speaker 1: money on that though, because it feels like it's a

844
00:42:36,480 --> 00:42:39,359
Speaker 1: little bit different than traditional sports, although some of it,

845
00:42:39,600 --> 00:42:41,000
Speaker 1: I mean, I'm still blown away. You and I have

846
00:42:41,000 --> 00:42:43,160
Speaker 1: talked about this before, that people will show up to

847
00:42:43,280 --> 00:42:45,880
Speaker 1: an arena and watch other people play video games Like

848
00:42:45,960 --> 00:42:48,960
Speaker 1: that makes my just head turn in on itself, like

849
00:42:49,000 --> 00:42:51,920
Speaker 1: I don't understand, but there they are. I went to

850
00:42:51,960 --> 00:42:55,319
Speaker 1: the Overwatch finals last June out in Brooklyn, and it

851
00:42:55,400 --> 00:42:57,080
Speaker 1: was the loudest I've ever seen. That building was louder

852
00:42:57,080 --> 00:42:58,760
Speaker 1: I was talking about. Buddy Mine, who works at Barkleys,

853
00:42:58,800 --> 00:43:02,080
Speaker 1: said it was louder than Easy, louder than the Nets

854
00:43:02,080 --> 00:43:05,319
Speaker 1: playoff games when Peterson and Garnette were around. And so

855
00:43:05,400 --> 00:43:08,720
Speaker 1: there's money from that. There's clearly the distribution of media

856
00:43:08,800 --> 00:43:11,200
Speaker 1: like we all know and love, and that's happening through Twitch,

857
00:43:11,239 --> 00:43:14,319
Speaker 1: and there's advertising around that. But it's also then back

858
00:43:14,320 --> 00:43:16,920
Speaker 1: to the publishers. Those people are gonna go play the game.

859
00:43:17,000 --> 00:43:19,680
Speaker 1: So they go watch somebody play, they get excited, they

860
00:43:19,719 --> 00:43:22,440
Speaker 1: go home, uh, and they want to play in game.

861
00:43:22,520 --> 00:43:25,680
Speaker 1: There's micro transactions, right, So if I see that my

862
00:43:25,760 --> 00:43:28,600
Speaker 1: favorite professional player was using a certain type of weapon

863
00:43:28,719 --> 00:43:30,799
Speaker 1: or was wearing a certain type of uniform, I can

864
00:43:30,840 --> 00:43:34,399
Speaker 1: go spend a dollar and and and purchase that product. Well,

865
00:43:34,760 --> 00:43:37,200
Speaker 1: you talked about that about Watch. I have a fourteen

866
00:43:37,239 --> 00:43:38,879
Speaker 1: year old in the nineteen year old and I sat

867
00:43:38,920 --> 00:43:42,200
Speaker 1: and I watched them play Fortnite, and I was screaming

868
00:43:42,239 --> 00:43:45,040
Speaker 1: at the set. In fact, my fourteen year old made

869
00:43:45,040 --> 00:43:47,480
Speaker 1: a mistake and I said, what the sam Hill are

870
00:43:47,520 --> 00:43:49,439
Speaker 1: you doing? Well, I didn't say Samuel, I said something

871
00:43:49,480 --> 00:43:51,719
Speaker 1: else and I had to clean it all up later on.

872
00:43:52,160 --> 00:43:54,960
Speaker 1: I can see how it happens and and how people

873
00:43:55,239 --> 00:43:58,279
Speaker 1: can yell and scream when they're in the stadium like that. Well,

874
00:43:58,280 --> 00:44:00,600
Speaker 1: the announcers are tremendous, and that's the other thing. If

875
00:44:00,600 --> 00:44:02,759
Speaker 1: you watch it, you'll see that the announcements really do

876
00:44:02,880 --> 00:44:04,760
Speaker 1: hype you up. Right. You may not I really understand

877
00:44:04,760 --> 00:44:06,799
Speaker 1: what's going on in the game, but many of these

878
00:44:06,840 --> 00:44:09,040
Speaker 1: games are very simple. It's capture the flag rights games

879
00:44:09,040 --> 00:44:11,319
Speaker 1: that we all grew up playing. It's tag right, it's

880
00:44:11,320 --> 00:44:13,680
Speaker 1: just doing it with a really interesting graphics and so

881
00:44:13,800 --> 00:44:17,759
Speaker 1: it's easy to concomprehend. Don Cornwell partner over at p

882
00:44:17,880 --> 00:44:20,680
Speaker 1: j T. Always love catching up with you. You're always

883
00:44:20,800 --> 00:44:23,520
Speaker 1: looking around the corner for what's next in sports, and

884
00:44:23,560 --> 00:44:26,600
Speaker 1: I have to say you called the sports way before

885
00:44:26,960 --> 00:44:29,839
Speaker 1: most people that we talked to on Wall Street. Thank

886
00:44:29,880 --> 00:44:32,399
Speaker 1: you for joining it. Thank you guys. All right, our

887
00:44:32,440 --> 00:44:34,880
Speaker 1: next guest has showed up. I think we're pretty excited

888
00:44:34,880 --> 00:44:37,240
Speaker 1: about this one as well. To say the least. Randy Levine,

889
00:44:37,280 --> 00:44:40,680
Speaker 1: president of the New York Yankees, made his way, you know,

890
00:44:40,800 --> 00:44:44,960
Speaker 1: just a little further downtown than you normally are. Uh, Brandy.

891
00:44:45,239 --> 00:44:48,200
Speaker 1: Exciting times up in the Bronx for sure. Thanks for

892
00:44:48,280 --> 00:44:50,440
Speaker 1: joining us. It's great always to be with you, guys.

893
00:44:50,440 --> 00:44:53,919
Speaker 1: How are you today? Ten days out before opening days?

894
00:44:53,920 --> 00:44:57,239
Speaker 1: So it's exciting, all right. So I was, I was

895
00:44:57,400 --> 00:45:00,080
Speaker 1: doing a little googling this morning, and I called a

896
00:45:00,200 --> 00:45:03,920
Speaker 1: story from back in December where you basically you just

897
00:45:03,960 --> 00:45:06,880
Speaker 1: threw down the gauntlan and said Yankees just as talented

898
00:45:07,280 --> 00:45:10,080
Speaker 1: as the Red Sox, which I'm sure many Red Sox

899
00:45:10,120 --> 00:45:12,520
Speaker 1: fans at least would say it's a bold statement given

900
00:45:12,560 --> 00:45:14,719
Speaker 1: what the Red Sox looked like last year. What gives

901
00:45:14,760 --> 00:45:17,160
Speaker 1: you all this confidence ten days out? Well, the Red

902
00:45:17,160 --> 00:45:21,200
Speaker 1: Sox are a great team. Uh, the world champions, they

903
00:45:21,239 --> 00:45:23,560
Speaker 1: have to be respected. But I think we got a

904
00:45:23,560 --> 00:45:27,319
Speaker 1: great team. I think we've improved on last year. We

905
00:45:27,440 --> 00:45:31,560
Speaker 1: have some great pieces that Brian Cashman, our baseball operations

906
00:45:32,000 --> 00:45:38,880
Speaker 1: folks brought in. Uh. We have great new picture from Seattle,

907
00:45:39,480 --> 00:45:43,759
Speaker 1: James Paxson, he hopefully will be an ace. We have

908
00:45:43,960 --> 00:45:47,759
Speaker 1: an amount of Veno and re signed Zack Britain, so

909
00:45:47,840 --> 00:45:50,719
Speaker 1: I think I'll bullpen is really really strong, maybe the

910
00:45:50,760 --> 00:45:55,080
Speaker 1: best in baseball. We have DJ LeMay, who um All

911
00:45:55,120 --> 00:45:58,960
Speaker 1: Star second baseman. So if we stay healthy, I think

912
00:45:58,960 --> 00:46:01,080
Speaker 1: we're gonna be really, really, really good. I have to

913
00:46:01,120 --> 00:46:03,839
Speaker 1: ask about the S Network, the ownership. It's back at

914
00:46:03,880 --> 00:46:08,040
Speaker 1: home where it should be. Well, we we have an agreement,

915
00:46:08,120 --> 00:46:09,879
Speaker 1: but there's a lot of work we've got to get

916
00:46:09,880 --> 00:46:12,520
Speaker 1: to close it. It's very exciting. We started they S

917
00:46:12,600 --> 00:46:17,120
Speaker 1: Network years ago. It's been the most watched regional, successful

918
00:46:17,200 --> 00:46:20,840
Speaker 1: regional sports network in the world since we started it.

919
00:46:21,320 --> 00:46:25,000
Speaker 1: UH Fox was a great partner, but as part of

920
00:46:25,000 --> 00:46:28,560
Speaker 1: their merging with Disney, they had to divest it. So, um,

921
00:46:29,040 --> 00:46:30,960
Speaker 1: we're in the process of trying to close it. We've

922
00:46:30,960 --> 00:46:33,880
Speaker 1: got some great partners and it's some great plans going

923
00:46:33,920 --> 00:46:36,560
Speaker 1: to be exciting. Well, let's talk about that those partners

924
00:46:36,560 --> 00:46:38,560
Speaker 1: if we can, because I think that was certainly, certainly

925
00:46:38,600 --> 00:46:41,360
Speaker 1: for those of us who follow the business side of sports,

926
00:46:41,360 --> 00:46:43,880
Speaker 1: that was one of the most interesting elements of that.

927
00:46:44,120 --> 00:46:47,080
Speaker 1: Help us understand how that sort of coalition of the

928
00:46:47,080 --> 00:46:50,880
Speaker 1: willing came together there. Well, I only speak from UH

929
00:46:50,960 --> 00:46:53,919
Speaker 1: because we haven't closed the deal. I'll just give you

930
00:46:54,120 --> 00:46:57,640
Speaker 1: what our perspective was. I think is this, uh industry

931
00:46:57,760 --> 00:47:03,920
Speaker 1: changes from what we clo linear just cable distribution industry

932
00:47:04,000 --> 00:47:06,680
Speaker 1: to more of a streaming and over the top. We

933
00:47:06,719 --> 00:47:10,160
Speaker 1: wanted to have a coalition of partners to cover all aspects.

934
00:47:10,239 --> 00:47:17,200
Speaker 1: Is that move that cover all the bases? So we uh,

935
00:47:17,719 --> 00:47:20,320
Speaker 1: we feel we have that. Uh. We feel we have

936
00:47:20,400 --> 00:47:24,000
Speaker 1: people who really can bring the greatest ideas and the

937
00:47:24,040 --> 00:47:29,839
Speaker 1: best know how that we navigate and improve the linear system.

938
00:47:29,960 --> 00:47:32,320
Speaker 1: And as we moved to a digital system, we're in

939
00:47:32,360 --> 00:47:35,040
Speaker 1: the forefront of that. I have to ask about baseball

940
00:47:35,120 --> 00:47:37,279
Speaker 1: in general. I mean there have been moves now to

941
00:47:37,600 --> 00:47:41,040
Speaker 1: speed up the game or uh pictures clock has been

942
00:47:41,080 --> 00:47:45,960
Speaker 1: talked about, changes about pictures. Your thoughts all about that? Well,

943
00:47:46,840 --> 00:47:49,640
Speaker 1: I give the commissioner and and the union Tony Clark

944
00:47:49,680 --> 00:47:52,600
Speaker 1: a lot of credit because baseball is a great game

945
00:47:52,600 --> 00:47:54,600
Speaker 1: and you've got to be very very careful. You know,

946
00:47:54,640 --> 00:47:56,799
Speaker 1: it's not a game on a clock. It's got its

947
00:47:56,840 --> 00:48:00,239
Speaker 1: own rhythm to it. But our fans think the game

948
00:48:00,400 --> 00:48:03,120
Speaker 1: is too long. They just think it's too long. So

949
00:48:03,200 --> 00:48:06,680
Speaker 1: the idea is, how do you shorten the game without

950
00:48:06,719 --> 00:48:10,520
Speaker 1: affecting the the rhythm and the heart of the game.

951
00:48:11,200 --> 00:48:14,719
Speaker 1: And they're exploring a whole bunch of ideas. Just last

952
00:48:14,719 --> 00:48:18,080
Speaker 1: week they came up with something proposals, you know, reduce

953
00:48:18,200 --> 00:48:21,920
Speaker 1: mound visits from six to five. There's a proposal hasn't

954
00:48:21,960 --> 00:48:25,480
Speaker 1: been agreed yet to have a relief picture or any

955
00:48:25,480 --> 00:48:30,040
Speaker 1: picture just facing re batters, so the you know, reduce

956
00:48:30,160 --> 00:48:33,960
Speaker 1: the the amount of minutes between any breaks. So we're

957
00:48:33,960 --> 00:48:37,440
Speaker 1: trying these things to try and uh speed up a

958
00:48:37,440 --> 00:48:39,839
Speaker 1: game a little bit, but not change the fabric of it.

959
00:48:40,080 --> 00:48:43,000
Speaker 1: At what would add to that right quick? About shortening

960
00:48:43,080 --> 00:48:46,319
Speaker 1: the innings because a picture has to warm up, and

961
00:48:46,440 --> 00:48:49,479
Speaker 1: if he doesn't warm up properly, he can get hurt.

962
00:48:50,400 --> 00:48:54,560
Speaker 1: We think that there's plenty of room, plenty of time

963
00:48:54,600 --> 00:48:57,840
Speaker 1: for a picture to warm up. Uh, And this is

964
00:48:57,920 --> 00:49:02,440
Speaker 1: really affect the clubs and the networks the most because

965
00:49:02,480 --> 00:49:06,160
Speaker 1: it is just less commercial time. So, UH want to

966
00:49:06,200 --> 00:49:08,120
Speaker 1: talk to you about a little bit about what you

967
00:49:08,160 --> 00:49:10,160
Speaker 1: did and didn't do in the offseason. You you know,

968
00:49:10,239 --> 00:49:12,680
Speaker 1: you just laid out at a pretty compelling roster but

969
00:49:13,200 --> 00:49:17,879
Speaker 1: um ultimately not involved in Machado or Harper, which were

970
00:49:17,880 --> 00:49:22,359
Speaker 1: obviously the blockbuster acquisitions as it were, over the course

971
00:49:22,360 --> 00:49:26,400
Speaker 1: of the season. Uh why not. Well, I think we

972
00:49:26,480 --> 00:49:29,799
Speaker 1: had a great team and I think uh, as hal

973
00:49:29,880 --> 00:49:33,279
Speaker 1: Stein Brenda said, and as care said, I think our

974
00:49:33,320 --> 00:49:36,719
Speaker 1: priority was pitching. We needed pitching, and we that's what

975
00:49:36,920 --> 00:49:42,520
Speaker 1: we prioritize. We felt very great and comfortable with uh

976
00:49:42,719 --> 00:49:45,680
Speaker 1: Miguel Andahar third base. We got a great short stuff

977
00:49:45,680 --> 00:49:48,279
Speaker 1: indeed Gregorious. We'll be back. You know. Sometime during the

978
00:49:48,320 --> 00:49:52,839
Speaker 1: season we got Troy Tollwitzki. So Manie Machado just didn't

979
00:49:52,880 --> 00:49:54,879
Speaker 1: fit for us. He's a great player and we met

980
00:49:54,880 --> 00:49:56,960
Speaker 1: with him, he didn't fit. I think it's great that

981
00:49:57,120 --> 00:49:59,479
Speaker 1: he went through the Padres. That's great. You know, it's

982
00:50:00,080 --> 00:50:02,040
Speaker 1: for a team like San Diego to sign a player

983
00:50:02,120 --> 00:50:05,240
Speaker 1: like that, that's wonderful. And as far as Bryce Hopper,

984
00:50:05,280 --> 00:50:07,440
Speaker 1: he's a phenomenal player. He's great. But I think we

985
00:50:07,520 --> 00:50:11,200
Speaker 1: got a pretty good outfield with Aaron Judge, Brett Gardner,

986
00:50:11,320 --> 00:50:14,359
Speaker 1: Aaron Hicks and Gi and Carlos Stanton. I'm afraid of that,

987
00:50:14,440 --> 00:50:19,120
Speaker 1: like somebody, I'm playing someone who's got that in fantasy.

988
00:50:19,760 --> 00:50:22,920
Speaker 1: The brand of the Yankees, I don't care where you

989
00:50:22,960 --> 00:50:26,600
Speaker 1: are in the world. They know about the New York

990
00:50:26,680 --> 00:50:30,520
Speaker 1: Yankees can you expand more about what that means to

991
00:50:30,640 --> 00:50:35,120
Speaker 1: have a brand like the Yankees known worldwide. Well, it's

992
00:50:35,160 --> 00:50:41,640
Speaker 1: it's very very uh important to us to work every

993
00:50:41,719 --> 00:50:44,360
Speaker 1: day to increase that brand and to make sure the

994
00:50:44,400 --> 00:50:48,400
Speaker 1: brand continues to stand for what it is, a tradition,

995
00:50:48,480 --> 00:50:53,239
Speaker 1: excellence and uh and winning. That's what George Steinbrenner intended

996
00:50:53,239 --> 00:50:55,920
Speaker 1: it to be. And we worked very very hard every day,

997
00:50:56,200 --> 00:51:01,040
Speaker 1: uh to to make it better uh and do different things.

998
00:51:01,080 --> 00:51:03,240
Speaker 1: This year, we're gonna be playing the Red Sox in London.

999
00:51:03,880 --> 00:51:07,920
Speaker 1: I think tickets sold out in twenty minutes. Uh. Uh

1000
00:51:08,239 --> 00:51:12,160
Speaker 1: we did really well both here and all fans uh

1001
00:51:12,200 --> 00:51:17,040
Speaker 1: in Europe. So uh, wherever you go, it always even imagines. Man,

1002
00:51:17,040 --> 00:51:19,320
Speaker 1: I never forget the first time I went to Beijing,

1003
00:51:19,960 --> 00:51:23,040
Speaker 1: I wanted to see tanem in Square and I've got

1004
00:51:23,040 --> 00:51:25,960
Speaker 1: there late, like one two in the morning, and I

1005
00:51:25,960 --> 00:51:28,080
Speaker 1: saw some guy wearing a Yankee hat and it gave

1006
00:51:28,120 --> 00:51:32,160
Speaker 1: me a big thrill. So h we're always one of

1007
00:51:32,200 --> 00:51:35,760
Speaker 1: the top brands no matter what sports, corporate and the world,

1008
00:51:35,800 --> 00:51:38,240
Speaker 1: and uh we wor a hard every day to maintain

1009
00:51:38,320 --> 00:51:41,320
Speaker 1: that and improve it. And in terms of and and

1010
00:51:41,360 --> 00:51:44,080
Speaker 1: Michael sort of alluded to this earlier sort in terms

1011
00:51:44,080 --> 00:51:46,839
Speaker 1: of sort of keeping a hold of your existing fans,

1012
00:51:46,880 --> 00:51:49,600
Speaker 1: but also appealing to younger fans. I've got a couple

1013
00:51:49,600 --> 00:51:52,920
Speaker 1: of teenagers myself, and I'm you know, ashamed to say,

1014
00:51:52,920 --> 00:51:55,959
Speaker 1: as a longtime baseball fan, they couldn't care less about

1015
00:51:56,000 --> 00:51:58,480
Speaker 1: it today, play lacrosse, they let the play tennis, all

1016
00:51:58,520 --> 00:52:01,520
Speaker 1: those different things. How do you ensure that this next

1017
00:52:01,560 --> 00:52:06,160
Speaker 1: generation really does continue to come to the ballpark and

1018
00:52:06,160 --> 00:52:08,919
Speaker 1: and consume it all the different ways that uh that

1019
00:52:09,200 --> 00:52:12,160
Speaker 1: that you're putting out there. It's a great question and

1020
00:52:12,239 --> 00:52:16,200
Speaker 1: it's a major priority for all of us in many ways.

1021
00:52:16,680 --> 00:52:19,440
Speaker 1: Through the Commissioner, we you know, play ball. We we've

1022
00:52:19,440 --> 00:52:23,520
Speaker 1: put a lot of resources into community baseball, youth baseball,

1023
00:52:23,800 --> 00:52:27,279
Speaker 1: little league baseball, because you're right, if you play the game,

1024
00:52:27,320 --> 00:52:29,879
Speaker 1: you're gonna be a fan of the game. We've changed

1025
00:52:29,960 --> 00:52:32,440
Speaker 1: Yankee Stadium over the last couple of years, made it

1026
00:52:33,080 --> 00:52:36,240
Speaker 1: very very family friendly in a lot of areas for kids.

1027
00:52:36,920 --> 00:52:40,440
Speaker 1: So it's fun. But the answer is you have to

1028
00:52:40,480 --> 00:52:42,560
Speaker 1: penetrate it. You have to show what a great game

1029
00:52:42,600 --> 00:52:46,320
Speaker 1: it is. And in fact, recent studies have shown baseball

1030
00:52:46,400 --> 00:52:49,200
Speaker 1: is now shooting right to the top of youth participation

1031
00:52:50,200 --> 00:52:53,759
Speaker 1: is the game? Do you believe that? How can I

1032
00:52:53,840 --> 00:52:58,920
Speaker 1: say this delicately? Everybody digs the long ball, and I'm wondering,

1033
00:52:59,040 --> 00:53:00,880
Speaker 1: where do you find the balance. Do you find the

1034
00:53:00,880 --> 00:53:03,400
Speaker 1: balance in let's have more home runs or do you

1035
00:53:03,440 --> 00:53:07,440
Speaker 1: have a pictures duel? You know, that's the endless debate

1036
00:53:07,520 --> 00:53:12,160
Speaker 1: that's gone on in baseball forever. I've heard all sides.

1037
00:53:12,239 --> 00:53:16,080
Speaker 1: You know, some people love the great you know pictures

1038
00:53:16,120 --> 00:53:18,680
Speaker 1: and you know, but they say a game one nothing

1039
00:53:18,719 --> 00:53:20,920
Speaker 1: to one is boring, and there's some people who want

1040
00:53:20,920 --> 00:53:24,239
Speaker 1: to lower the pictures mound. On the other hand, you know,

1041
00:53:24,360 --> 00:53:26,719
Speaker 1: you get people they don't like the strikeouts in the game.

1042
00:53:26,840 --> 00:53:29,200
Speaker 1: There's not enough action, you know, when guys are hitting

1043
00:53:29,200 --> 00:53:33,239
Speaker 1: home runs and swingers are dealing with launch angles. That's

1044
00:53:33,239 --> 00:53:36,600
Speaker 1: the great debt to baseball. You know, there's something for everybody,

1045
00:53:36,800 --> 00:53:40,239
Speaker 1: and you've got to just find the balance. Today everybody's

1046
00:53:40,280 --> 00:53:44,560
Speaker 1: debating shifts that they work don't work. So that's great

1047
00:53:44,600 --> 00:53:48,160
Speaker 1: about baseball. It goes all through the year and there's

1048
00:53:48,200 --> 00:53:50,800
Speaker 1: always something to talk about and for people to agree

1049
00:53:50,880 --> 00:53:53,239
Speaker 1: or disagree with. Randy Before we let you go, gotta

1050
00:53:53,280 --> 00:53:56,560
Speaker 1: ask you about sports betting. You know, it is I'm

1051
00:53:56,600 --> 00:54:00,280
Speaker 1: guessing one of the big topics for everybody in this room. Uh. Certainly,

1052
00:54:00,360 --> 00:54:02,320
Speaker 1: we talked about it all the time. I know Michael

1053
00:54:02,320 --> 00:54:05,880
Speaker 1: and on his weekly show talks about it a decent

1054
00:54:05,880 --> 00:54:09,319
Speaker 1: amount as well. How does that play into baseball? And

1055
00:54:09,360 --> 00:54:12,439
Speaker 1: I do think about like the history of baseball and

1056
00:54:12,440 --> 00:54:16,960
Speaker 1: and gambling in baseball have had some of gambling His

1057
00:54:17,000 --> 00:54:19,440
Speaker 1: accounted for some of the more sordid moments in UH

1058
00:54:19,480 --> 00:54:23,560
Speaker 1: in baseball history. How do you embrace it now? Given

1059
00:54:23,640 --> 00:54:26,960
Speaker 1: the reality, I think it's inevitable. I think it's gonna

1060
00:54:26,960 --> 00:54:30,000
Speaker 1: be phenomenal for baseball. I think it's great as long

1061
00:54:30,040 --> 00:54:35,200
Speaker 1: as it's regulated, as long as it's integral. I think

1062
00:54:35,560 --> 00:54:37,960
Speaker 1: we talked about pace of play. It's actually gonna help

1063
00:54:38,640 --> 00:54:41,640
Speaker 1: UH with baseball rather than other sports because you're going

1064
00:54:41,680 --> 00:54:45,680
Speaker 1: to have people betting on scoring runs and inning. Is

1065
00:54:45,719 --> 00:54:47,839
Speaker 1: it a slider, is it a fastball? Is this guy

1066
00:54:47,880 --> 00:54:50,000
Speaker 1: going to hit a home run or double? Is it

1067
00:54:50,080 --> 00:54:53,280
Speaker 1: going to strike out? So I think it's inevitable. Of course,

1068
00:54:53,360 --> 00:54:55,279
Speaker 1: you know what has to become legal, and in the

1069
00:54:55,360 --> 00:54:59,239
Speaker 1: various states, they have to be the protections required so

1070
00:54:59,360 --> 00:55:02,440
Speaker 1: the game, the integrity of the game is preserved. But

1071
00:55:02,560 --> 00:55:05,200
Speaker 1: I think it's going to be the pre eminent revenue

1072
00:55:05,239 --> 00:55:08,839
Speaker 1: source over the next decade. Randy Levine, thank you so much.

1073
00:55:09,040 --> 00:55:12,400
Speaker 1: Obviously we know he's the president of the New York Yankees,

1074
00:55:12,640 --> 00:55:14,440
Speaker 1: and we're so glad to have you. Always great to

1075
00:55:14,440 --> 00:55:17,680
Speaker 1: be with you, guys. Thank you. J E. T. S.

1076
00:55:17,840 --> 00:55:21,600
Speaker 1: As we see that. I always love saying that you're saying.

1077
00:55:23,480 --> 00:55:25,839
Speaker 1: President of the New York Jets, thank you so much.

1078
00:55:25,880 --> 00:55:28,839
Speaker 1: Server join against Thanks for having me, guys, big well,

1079
00:55:28,960 --> 00:55:31,279
Speaker 1: you got a big guy you got you picked up

1080
00:55:31,320 --> 00:55:34,000
Speaker 1: the running back that everyone wanted, Levi on Bell. So

1081
00:55:34,040 --> 00:55:36,000
Speaker 1: he's with you, guys that we're excited to have him.

1082
00:55:36,120 --> 00:55:37,600
Speaker 1: And this is a time of year where there's a

1083
00:55:37,600 --> 00:55:40,400
Speaker 1: lot of excitement. It really is the start of the

1084
00:55:41,080 --> 00:55:43,600
Speaker 1: season for all intents and purposes. You start with free agency,

1085
00:55:44,040 --> 00:55:46,520
Speaker 1: leads to the draft. Pretty soon you're in training camp

1086
00:55:46,560 --> 00:55:48,960
Speaker 1: and getting ready for preseason and the regular season. So

1087
00:55:49,239 --> 00:55:51,520
Speaker 1: having guy like Levi on it is very exciting. So

1088
00:55:51,560 --> 00:55:54,680
Speaker 1: tell us about the deal, Like what what take us

1089
00:55:54,719 --> 00:56:00,799
Speaker 1: inside the boardroom? There he comes available, Um, what's the strategy?

1090
00:56:01,000 --> 00:56:04,799
Speaker 1: And and was this the really the the single thing

1091
00:56:04,840 --> 00:56:07,680
Speaker 1: you wanted going into this uh off season? So these

1092
00:56:07,680 --> 00:56:11,000
Speaker 1: are better questions for our general managers who you know,

1093
00:56:11,000 --> 00:56:15,000
Speaker 1: who strategizes we know you were in the room, strategize

1094
00:56:15,080 --> 00:56:18,920
Speaker 1: on how to continue to really add weapons on the offense,

1095
00:56:19,000 --> 00:56:22,680
Speaker 1: shore up the defense. And Uh, I think free agency

1096
00:56:22,800 --> 00:56:26,279
Speaker 1: is opportunistic. I think you don't know who's necessarily going

1097
00:56:26,320 --> 00:56:29,319
Speaker 1: to be available. Uh, you don't know if they're necessarily

1098
00:56:29,640 --> 00:56:32,600
Speaker 1: uh gonna kind of accept a deal from the Jets.

1099
00:56:32,600 --> 00:56:34,520
Speaker 1: So there's just a lot of moving parts, and I

1100
00:56:34,520 --> 00:56:36,440
Speaker 1: think they have a lot of different scenarios that they

1101
00:56:36,440 --> 00:56:39,640
Speaker 1: work through to ultimately land on the group of guys

1102
00:56:39,680 --> 00:56:41,640
Speaker 1: that that come to your team. We have talked with

1103
00:56:41,680 --> 00:56:44,640
Speaker 1: many of the sports heads of sports teams and I'm

1104
00:56:44,640 --> 00:56:46,800
Speaker 1: gonna ask you the same thing. One of the biggest

1105
00:56:46,840 --> 00:56:49,000
Speaker 1: things for a fan when they come to the game,

1106
00:56:49,719 --> 00:56:53,440
Speaker 1: it's way more now than just selling popcorn. They have

1107
00:56:53,560 --> 00:56:57,520
Speaker 1: to have that experience at the stadium. And uh, I've

1108
00:56:57,560 --> 00:57:01,200
Speaker 1: seen more and more people bring that in. And I

1109
00:57:01,239 --> 00:57:05,600
Speaker 1: guess I'm gonna ask this angle Atlanta, the Falcons, they

1110
00:57:05,640 --> 00:57:10,000
Speaker 1: set up a pricing range for food pretty cheap. Uh.

1111
00:57:10,440 --> 00:57:13,240
Speaker 1: Is that the way to go now for all the teams?

1112
00:57:13,440 --> 00:57:15,799
Speaker 1: So it's interesting. Um, I think they've done a great

1113
00:57:15,840 --> 00:57:19,560
Speaker 1: job in Atlanta. For about at least four or five years,

1114
00:57:19,560 --> 00:57:22,080
Speaker 1: we've done value pricing at our buildings. So we thought

1115
00:57:22,120 --> 00:57:24,520
Speaker 1: it was important, uh that if somebody comes out with

1116
00:57:24,560 --> 00:57:26,880
Speaker 1: their family, that if they wanted to get a drink,

1117
00:57:27,160 --> 00:57:28,680
Speaker 1: if they wanted to have a hot dog, they want

1118
00:57:28,680 --> 00:57:30,440
Speaker 1: to have chicken tenders, that it would be affordable. So

1119
00:57:30,480 --> 00:57:32,320
Speaker 1: that's something that we have focused on for a number

1120
00:57:32,320 --> 00:57:34,640
Speaker 1: of years. Were always valuing what's being done around the league.

1121
00:57:34,880 --> 00:57:36,560
Speaker 1: We want people to have a great time. There are

1122
00:57:36,560 --> 00:57:39,120
Speaker 1: other people who don't necessarily want those value meals. They

1123
00:57:39,120 --> 00:57:42,880
Speaker 1: want whatever they want to consume. But the fan experience,

1124
00:57:42,880 --> 00:57:44,560
Speaker 1: it's it's really what we spend a lot of our time.

1125
00:57:44,560 --> 00:57:46,960
Speaker 1: And thanks for asking me the football question. I think

1126
00:57:47,000 --> 00:57:48,840
Speaker 1: what we spent a lot of our time kind of

1127
00:57:48,880 --> 00:57:51,800
Speaker 1: on the business side is the fan experience, and that's

1128
00:57:51,880 --> 00:57:54,160
Speaker 1: year round before they get to the stadium, but also

1129
00:57:54,280 --> 00:57:57,120
Speaker 1: once once they come to the stadium. So last year

1130
00:57:57,200 --> 00:58:00,480
Speaker 1: we had a partnership with Marble and we did a

1131
00:58:00,960 --> 00:58:04,000
Speaker 1: green out and uh we did Hulk with bobble Heads

1132
00:58:04,040 --> 00:58:06,160
Speaker 1: and we played the Vikings and it was four So

1133
00:58:06,280 --> 00:58:08,960
Speaker 1: just something to kind of add to the experience. We're

1134
00:58:09,000 --> 00:58:11,000
Speaker 1: at this luncheon today and there's some people here from

1135
00:58:11,120 --> 00:58:13,800
Speaker 1: w w E. They're great partners of ours. So we

1136
00:58:13,840 --> 00:58:17,280
Speaker 1: did a a Kid's day last year. During the season,

1137
00:58:17,280 --> 00:58:20,080
Speaker 1: we're featured a lot of the w w E superstars

1138
00:58:20,200 --> 00:58:23,040
Speaker 1: that came out. UH, So you're just we did a

1139
00:58:23,080 --> 00:58:26,400
Speaker 1: Super Bowl three celebration. So it's not it's the young people,

1140
00:58:26,400 --> 00:58:28,320
Speaker 1: but it's also people who have been the long standing

1141
00:58:28,640 --> 00:58:31,280
Speaker 1: fans who want to be there for the history and

1142
00:58:31,320 --> 00:58:33,720
Speaker 1: some of the great UH legends that we've had at

1143
00:58:33,720 --> 00:58:36,480
Speaker 1: the Jets. So it really goes into the overall experience

1144
00:58:36,520 --> 00:58:39,360
Speaker 1: of some of its programming. UH. This year, we're we're

1145
00:58:39,360 --> 00:58:41,640
Speaker 1: really trying to activate more parts of the building like

1146
00:58:41,680 --> 00:58:43,760
Speaker 1: we do every year. So when people there are certain

1147
00:58:43,760 --> 00:58:46,360
Speaker 1: people just want to they want to tailgate four, two

1148
00:58:46,440 --> 00:58:48,560
Speaker 1: or three hours great and then come into the stadium

1149
00:58:48,680 --> 00:58:51,480
Speaker 1: and have a great time. For those people have a

1150
00:58:51,480 --> 00:58:53,400
Speaker 1: great time in the tailgate. Will make sure the programming

1151
00:58:53,400 --> 00:58:56,440
Speaker 1: on the scoreboards is exciting and entertaining. There are other

1152
00:58:56,480 --> 00:58:58,440
Speaker 1: people they want to come in a little bit earlier.

1153
00:58:58,560 --> 00:59:01,040
Speaker 1: They want to be entertained. So some of our partnerships

1154
00:59:01,120 --> 00:59:02,720
Speaker 1: or things that we do on our own, we want

1155
00:59:02,720 --> 00:59:05,160
Speaker 1: to make sure there are things that that that they

1156
00:59:05,160 --> 00:59:07,520
Speaker 1: can do that. It could be virtual reality, It could

1157
00:59:07,520 --> 00:59:09,280
Speaker 1: be simple things where the kids are able to run

1158
00:59:09,320 --> 00:59:12,240
Speaker 1: around and measure how fast they went, so we do

1159
00:59:12,280 --> 00:59:14,440
Speaker 1: a mini combine once they get inside the gate. So

1160
00:59:14,520 --> 00:59:16,640
Speaker 1: Michael hit on the right thing, which is how do

1161
00:59:16,640 --> 00:59:20,720
Speaker 1: we continue to entertain? So let's talk about the football

1162
00:59:21,040 --> 00:59:23,600
Speaker 1: fan and the football consumer because we caught up earlier

1163
00:59:23,640 --> 00:59:27,280
Speaker 1: with Oliver Luck, commissioner and CEO of the XFL. UH

1164
00:59:27,640 --> 00:59:30,400
Speaker 1: a few weeks back, Carol Masson and I on our

1165
00:59:30,440 --> 00:59:33,520
Speaker 1: show had Charlie Abersal talking about the alliance right before

1166
00:59:33,640 --> 00:59:37,720
Speaker 1: they kicked off, as it were, is the appetite that

1167
00:59:37,880 --> 00:59:42,520
Speaker 1: insatiable for football, that that the fan can essentially absorb

1168
00:59:42,680 --> 00:59:46,680
Speaker 1: all these different, uh, professional leagues coming at them. So

1169
00:59:47,200 --> 00:59:48,720
Speaker 1: before I was at the Jets, I was at the

1170
00:59:48,840 --> 00:59:53,080
Speaker 1: NFL at the league office, and uh, we've yet to

1171
00:59:53,120 --> 00:59:56,960
Speaker 1: reach that saturation point. So it's terrific the interest. Again,

1172
00:59:57,000 --> 01:00:00,160
Speaker 1: we're here today talking about football at the office. Sason,

1173
01:00:00,160 --> 01:00:02,120
Speaker 1: who would have thought people would be talking about the combine?

1174
01:00:02,400 --> 01:00:05,440
Speaker 1: And free agency takes over part of the sports calendar

1175
01:00:05,480 --> 01:00:07,880
Speaker 1: for a few days. The draft, given what's gonna be

1176
01:00:07,960 --> 01:00:10,720
Speaker 1: happening in Nashville and what's happened before in Dallas and

1177
01:00:10,760 --> 01:00:14,320
Speaker 1: Philadelphia and some of these other cities. Uh, So I

1178
01:00:14,400 --> 01:00:17,280
Speaker 1: never bet against uh the fans and their interests in

1179
01:00:17,480 --> 01:00:20,440
Speaker 1: the sport of football. You don't see the interest in

1180
01:00:20,560 --> 01:00:23,880
Speaker 1: the draft in the NHL. That's not knock in the

1181
01:00:23,880 --> 01:00:28,160
Speaker 1: hockey league. Is just that the NFL is king, and

1182
01:00:28,360 --> 01:00:31,000
Speaker 1: uh they're on the top of the food chain. So,

1183
01:00:31,120 --> 01:00:34,720
Speaker 1: like you said, next month, here comes the draft. Everybody's

1184
01:00:34,760 --> 01:00:38,400
Speaker 1: excited about it. That is a football fan, and uh,

1185
01:00:38,520 --> 01:00:42,400
Speaker 1: I just wonder about your thoughts about that. Um. The

1186
01:00:42,720 --> 01:00:46,080
Speaker 1: draft is when people start thinking about the fall um

1187
01:00:46,120 --> 01:00:48,760
Speaker 1: who can help their team. And the great thing is

1188
01:00:48,840 --> 01:00:52,080
Speaker 1: with college football, you've seen a lot of these young

1189
01:00:52,120 --> 01:00:54,880
Speaker 1: players for for the past two three, four years. So

1190
01:00:54,960 --> 01:00:57,439
Speaker 1: not only are the fans projecting who can help their team,

1191
01:00:58,000 --> 01:01:00,280
Speaker 1: they know it's not just a name. These are people

1192
01:01:00,320 --> 01:01:04,120
Speaker 1: that it's not the hardcore fantasy guy who only knows

1193
01:01:04,120 --> 01:01:07,520
Speaker 1: who these players are. They're pretty mainstream guys. We were

1194
01:01:07,560 --> 01:01:10,240
Speaker 1: thrilled to draft Sam Donald third last year, but he

1195
01:01:10,280 --> 01:01:12,200
Speaker 1: was well known by the time the Jets drafted him,

1196
01:01:12,240 --> 01:01:14,840
Speaker 1: so from a fan standpoint, they were excited to get

1197
01:01:14,880 --> 01:01:17,320
Speaker 1: him because they knew so much about him. Knew who

1198
01:01:17,320 --> 01:01:18,720
Speaker 1: he was as a player, knew who he was as

1199
01:01:18,720 --> 01:01:22,240
Speaker 1: a person. Um, but the draft is, uh, it's it's

1200
01:01:22,240 --> 01:01:24,720
Speaker 1: really been become a really terrific event. The first draft

1201
01:01:24,800 --> 01:01:28,280
Speaker 1: I went to, I'll date myself, was they did at

1202
01:01:28,280 --> 01:01:30,200
Speaker 1: the Marriott Marquis, and I think they did a nice

1203
01:01:30,280 --> 01:01:32,280
Speaker 1: job of it then, but it's nothing compared to what

1204
01:01:32,320 --> 01:01:35,360
Speaker 1: it is today. Neil Glad, President of the New York Jets,

1205
01:01:35,400 --> 01:01:38,360
Speaker 1: congrats on your pick up and good luck this season.

1206
01:01:38,400 --> 01:01:41,920
Speaker 1: Thanks so much for joining Usterday. You're listening to the

1207
01:01:41,920 --> 01:01:45,880
Speaker 1: Bloomberg Business of Sports summing with Carol Mester, Jason Kelly,

1208
01:01:45,920 --> 01:01:49,960
Speaker 1: and Michael vaugh on Bloomberg Radio. All right, Michael Barr,

1209
01:01:49,960 --> 01:01:52,840
Speaker 1: were winding up this show with I gotta tell you,

1210
01:01:52,880 --> 01:01:55,280
Speaker 1: I feel like I've watched this whole thing grow up

1211
01:01:55,360 --> 01:01:59,440
Speaker 1: here on Bloomberg. The Premier Lacrosse League, Paul Rabel, the

1212
01:01:59,480 --> 01:02:02,640
Speaker 1: founder here with us. This has been a great story.

1213
01:02:02,840 --> 01:02:04,440
Speaker 1: What's that old saying you used to see in the

1214
01:02:04,440 --> 01:02:09,320
Speaker 1: serials when we last left, And look what's happening now?

1215
01:02:09,560 --> 01:02:11,800
Speaker 1: I know it's amazing. I have to say. You know,

1216
01:02:11,840 --> 01:02:14,680
Speaker 1: we were talking about this a little bit off air. Uh.

1217
01:02:14,800 --> 01:02:20,320
Speaker 1: He played lacrosse notably at UH little school called JOHNS Hopkins,

1218
01:02:20,400 --> 01:02:22,400
Speaker 1: which happens to be close to the heart of our

1219
01:02:22,560 --> 01:02:26,360
Speaker 1: founder and majority owner Mike Bloomberg. So I understand might

1220
01:02:26,360 --> 01:02:28,520
Speaker 1: give a little shout out to UH Hopkins, but that

1221
01:02:28,720 --> 01:02:32,640
Speaker 1: was really only the beginning UH for you, Paul. And

1222
01:02:32,720 --> 01:02:35,000
Speaker 1: now we are on the verge of the premier Lacrosse

1223
01:02:35,080 --> 01:02:38,400
Speaker 1: League UH coming to a stadium near you this summer.

1224
01:02:38,760 --> 01:02:41,720
Speaker 1: We're seventy eight days out to June one, which is

1225
01:02:41,720 --> 01:02:44,400
Speaker 1: our our first weekend. Yeah, Michael, I think when we

1226
01:02:44,400 --> 01:02:47,400
Speaker 1: were sitting we were first. We're probably a year out.

1227
01:02:48,000 --> 01:02:51,840
Speaker 1: So building this league with my brother and co founder

1228
01:02:51,920 --> 01:02:55,520
Speaker 1: Mike from scratch and now our executives UH and our

1229
01:02:55,720 --> 01:03:00,520
Speaker 1: entire management team and junior associates and players is is

1230
01:03:00,520 --> 01:03:05,160
Speaker 1: in everyday build. Um. There's a famous saying that if

1231
01:03:05,240 --> 01:03:07,840
Speaker 1: if you're not working on Saturdays, how can we expect

1232
01:03:07,880 --> 01:03:11,040
Speaker 1: you to work on Sundays? The track of what day

1233
01:03:11,040 --> 01:03:12,880
Speaker 1: it is. But I could get us this view right now,

1234
01:03:12,960 --> 01:03:15,320
Speaker 1: and thanks for having me, guys, Yeah, no, it's great.

1235
01:03:15,680 --> 01:03:18,000
Speaker 1: I have to ask. It's this. I want to know

1236
01:03:18,000 --> 01:03:20,760
Speaker 1: about this conversation between you and your brother, because you know,

1237
01:03:20,800 --> 01:03:24,160
Speaker 1: when you somebody had to say let's start a brand

1238
01:03:24,160 --> 01:03:27,200
Speaker 1: new league. And someone had to say, what I mean,

1239
01:03:27,240 --> 01:03:30,120
Speaker 1: that's a big under ticket. Yeah. Well, our first conversation

1240
01:03:30,280 --> 01:03:35,640
Speaker 1: was how do we appropriately fix and commercialize the pro game? Um?

1241
01:03:35,680 --> 01:03:38,120
Speaker 1: You know, there was an existing league in Major League Lacrosse,

1242
01:03:38,160 --> 01:03:42,560
Speaker 1: and Mike and I spent about eight months uh in

1243
01:03:42,680 --> 01:03:45,640
Speaker 1: meetings and trying to work with the different owners of

1244
01:03:45,640 --> 01:03:48,600
Speaker 1: that league to figure out a way that, um, you know,

1245
01:03:48,680 --> 01:03:51,920
Speaker 1: we could either work together or kind of remodel what

1246
01:03:52,040 --> 01:03:55,479
Speaker 1: had existed. Uh. And our view based on the data

1247
01:03:55,520 --> 01:03:58,360
Speaker 1: that we had and the players at our back and

1248
01:03:58,600 --> 01:04:02,200
Speaker 1: I think this modern day and new technology and new media,

1249
01:04:02,760 --> 01:04:05,880
Speaker 1: is that the sport deserved a a new business model.

1250
01:04:06,120 --> 01:04:08,919
Speaker 1: So whether it was rolling up m and rolling out

1251
01:04:08,960 --> 01:04:11,720
Speaker 1: tour or in the route that we took in launching

1252
01:04:11,800 --> 01:04:15,520
Speaker 1: the new league from scratch which proceeded that is, uh

1253
01:04:16,000 --> 01:04:18,000
Speaker 1: is how we ended up on it. So I don't

1254
01:04:18,040 --> 01:04:22,680
Speaker 1: think uh yea many people would get excited around starting

1255
01:04:22,720 --> 01:04:25,160
Speaker 1: a new pro sports league. It's fun to think about,

1256
01:04:25,160 --> 01:04:28,360
Speaker 1: but incredibly challenging. Uh. And we worked our way to

1257
01:04:28,440 --> 01:04:30,880
Speaker 1: that place and and now it's just it's every day,

1258
01:04:30,920 --> 01:04:32,640
Speaker 1: but it's a lot of fun. Well, and let's talk

1259
01:04:32,680 --> 01:04:35,000
Speaker 1: about the everyday aspect, because you and I got a

1260
01:04:35,080 --> 01:04:37,120
Speaker 1: chance to catch up last week at your Paul Rebel

1261
01:04:37,240 --> 01:04:39,680
Speaker 1: Foundation event here in New York City, and one of

1262
01:04:39,680 --> 01:04:42,680
Speaker 1: the things I said to you, uh, sort of off

1263
01:04:42,680 --> 01:04:44,760
Speaker 1: to the side, was this idea that this has been

1264
01:04:44,760 --> 01:04:50,880
Speaker 1: an incredibly methodical day today. Rollout heavy on social media.

1265
01:04:51,080 --> 01:04:53,760
Speaker 1: Anybody who follows you or the League on Twitter knows

1266
01:04:53,800 --> 01:04:57,560
Speaker 1: that you're there every day. You have rolled out basically

1267
01:04:57,600 --> 01:05:00,640
Speaker 1: a city per week up until this point. How does

1268
01:05:00,680 --> 01:05:04,400
Speaker 1: that happen behind the scenes? Is that you? Is that? Mike?

1269
01:05:04,560 --> 01:05:07,680
Speaker 1: How did you go about kind of setting that up? Yeah? Well,

1270
01:05:07,880 --> 01:05:09,760
Speaker 1: I think at large, when we look at our business,

1271
01:05:09,760 --> 01:05:13,600
Speaker 1: we have a media team which works with Pete Bavaqua

1272
01:05:13,640 --> 01:05:16,680
Speaker 1: who's here, and and NBC as our broadcast partner. They

1273
01:05:16,680 --> 01:05:19,640
Speaker 1: also look at our original programming strategy, our player focus

1274
01:05:19,680 --> 01:05:23,680
Speaker 1: features are our league and teams on social and digital.

1275
01:05:24,000 --> 01:05:26,600
Speaker 1: That's its own business. We have a corporate Partnership team,

1276
01:05:26,600 --> 01:05:30,040
Speaker 1: which is essentially business development and how we're attracting endemic

1277
01:05:30,080 --> 01:05:33,640
Speaker 1: and non endemic sponsors. We have our ticket and product team.

1278
01:05:34,120 --> 01:05:36,360
Speaker 1: We have a merchandise team, a youth team. So when

1279
01:05:36,360 --> 01:05:38,920
Speaker 1: we talk about all the work, we have these six

1280
01:05:38,960 --> 01:05:43,800
Speaker 1: business units and our community efforts that are cross pollinating

1281
01:05:44,240 --> 01:05:47,240
Speaker 1: and and integrating strategies, but also working top down within

1282
01:05:47,240 --> 01:05:49,400
Speaker 1: those business units. That's day to day. When we think

1283
01:05:49,400 --> 01:05:52,320
Speaker 1: about sports at a meta level, UM, it's a trade

1284
01:05:52,360 --> 01:05:56,640
Speaker 1: on attention UM and and a revenue business. So our

1285
01:05:56,680 --> 01:05:59,800
Speaker 1: trade on attention is essentially daily with new social media,

1286
01:06:00,000 --> 01:06:05,000
Speaker 1: digital and our partner's NBC. How are we storytelling and

1287
01:06:05,000 --> 01:06:07,880
Speaker 1: and in that case that you had mentioned Jason, a

1288
01:06:07,920 --> 01:06:13,600
Speaker 1: weekly and in some cases daily list of calendar announcements UM.

1289
01:06:13,760 --> 01:06:16,880
Speaker 1: I think keeps people interested, but also, you know, drips

1290
01:06:16,960 --> 01:06:19,880
Speaker 1: a level of excitement and demand. I know people don't

1291
01:06:19,920 --> 01:06:22,920
Speaker 1: like talking about business at the dinner table, but when

1292
01:06:23,000 --> 01:06:26,480
Speaker 1: it comes down, athletes have to get paid. And we

1293
01:06:26,440 --> 01:06:29,240
Speaker 1: were talked about this the last time about uh the

1294
01:06:29,240 --> 01:06:32,280
Speaker 1: payment for la crosse player. It's like, can you expand

1295
01:06:32,320 --> 01:06:34,960
Speaker 1: more into that? And it maybe some of the trials

1296
01:06:34,960 --> 01:06:37,480
Speaker 1: and tripulations that you that you went through, no doubt.

1297
01:06:37,520 --> 01:06:39,280
Speaker 1: So when I graduated in two thousand and eight from

1298
01:06:39,360 --> 01:06:42,360
Speaker 1: Johns Hopkins UM and shout out to to Mr Bloomberg

1299
01:06:43,000 --> 01:06:45,640
Speaker 1: who's here, UM, I actually had a job as a

1300
01:06:45,720 --> 01:06:48,480
Speaker 1: junior analyst for real estate company in d C. And

1301
01:06:48,520 --> 01:06:50,840
Speaker 1: I was also the first overall pick in Pro lacrosse

1302
01:06:51,480 --> 01:06:54,280
Speaker 1: UM my rookie wage with six thousand dollars for the season,

1303
01:06:54,800 --> 01:06:58,280
Speaker 1: not for a game UM, and the average wage had

1304
01:06:58,320 --> 01:07:02,080
Speaker 1: been that for its existence of league at eight thousand dollars.

1305
01:07:02,120 --> 01:07:05,560
Speaker 1: And so as we've seen sports continue to elevate, UH,

1306
01:07:05,560 --> 01:07:09,000
Speaker 1: it's very clear that athletes are your most powerful asset,

1307
01:07:09,440 --> 01:07:12,280
Speaker 1: from the n b A two quarterbacks in the NFL

1308
01:07:12,880 --> 01:07:16,160
Speaker 1: UM to the women's soccer stars UM and so to

1309
01:07:16,200 --> 01:07:19,040
Speaker 1: be able to invest in those assets is what makes

1310
01:07:19,080 --> 01:07:21,920
Speaker 1: any company successful. So when Mike and I built this

1311
01:07:21,960 --> 01:07:25,560
Speaker 1: business model, at at the first level was how are

1312
01:07:25,560 --> 01:07:28,000
Speaker 1: we comping our athletes? What are some challenges that they face?

1313
01:07:28,400 --> 01:07:31,200
Speaker 1: All right, so we increase cash compensation, We give them

1314
01:07:31,240 --> 01:07:34,200
Speaker 1: access to healthcare because a short eight months later in

1315
01:07:34,200 --> 01:07:36,920
Speaker 1: real estate, I decided to take a plunge in prolocross

1316
01:07:37,080 --> 01:07:38,400
Speaker 1: and I had to figure out how to pay for

1317
01:07:38,440 --> 01:07:41,000
Speaker 1: my own health insurance. So we're giving our players you

1318
01:07:41,000 --> 01:07:43,760
Speaker 1: are full time, that access. And then most importantly and

1319
01:07:43,800 --> 01:07:46,280
Speaker 1: uniquely to other team sports in in the US, is

1320
01:07:46,320 --> 01:07:48,760
Speaker 1: that our players have equity in the business. So we

1321
01:07:48,840 --> 01:07:52,240
Speaker 1: view ourselves and we are true sing lenity business. So

1322
01:07:52,360 --> 01:07:55,240
Speaker 1: like an early stage Lilicon Valley Company. Uh, you look

1323
01:07:55,280 --> 01:07:57,240
Speaker 1: at your cap table and you have an employee segment

1324
01:07:57,280 --> 01:08:00,200
Speaker 1: that's carved out, and we view our our athletes as

1325
01:08:00,680 --> 01:08:05,480
Speaker 1: part of that early stage um level of of of

1326
01:08:05,520 --> 01:08:08,160
Speaker 1: importance and growth. So we've designated a portion of our

1327
01:08:08,200 --> 01:08:11,320
Speaker 1: cap table to stock options for our players. I got

1328
01:08:11,320 --> 01:08:14,040
Speaker 1: to ask you because this has been it feels like

1329
01:08:14,160 --> 01:08:18,320
Speaker 1: success on success since you announced. But what's the biggest

1330
01:08:18,320 --> 01:08:22,040
Speaker 1: mistake or or the biggest disappointment that you've had so far?

1331
01:08:23,040 --> 01:08:25,720
Speaker 1: That's a that's a great question. So every day I

1332
01:08:25,760 --> 01:08:29,560
Speaker 1: would say we are we are working to continue to

1333
01:08:29,600 --> 01:08:32,759
Speaker 1: bring on great people. And it's very challenging in sports

1334
01:08:33,200 --> 01:08:36,519
Speaker 1: because if you're a if you're not the NBA or

1335
01:08:36,560 --> 01:08:38,920
Speaker 1: you're not the NFL, and we're and we want to

1336
01:08:38,920 --> 01:08:42,559
Speaker 1: attract NBA NFL executive talent, well we have to go

1337
01:08:42,640 --> 01:08:44,840
Speaker 1: sell our vision like I'm selling you guys right now

1338
01:08:45,320 --> 01:08:49,639
Speaker 1: on a daily basis. So so part of our challenge

1339
01:08:50,000 --> 01:08:53,160
Speaker 1: as executives is operating and then being able to create

1340
01:08:53,240 --> 01:08:57,320
Speaker 1: task forces for every job that we post online. And

1341
01:08:57,360 --> 01:09:00,439
Speaker 1: that requires a candidate who's going through a green and

1342
01:09:00,880 --> 01:09:04,080
Speaker 1: informational interview, a focus interview meeting with us in person,

1343
01:09:05,000 --> 01:09:07,400
Speaker 1: because in a sports league, different from that early stage

1344
01:09:07,439 --> 01:09:13,839
Speaker 1: technology company, we have to scale labor quickly. Technology companies

1345
01:09:13,920 --> 01:09:16,000
Speaker 1: raised their Series A and Series B, and they build

1346
01:09:16,000 --> 01:09:19,479
Speaker 1: out a sales team to pour lighter fluid on product

1347
01:09:19,520 --> 01:09:22,800
Speaker 1: market fit. Paul Rabel, he is the founder of the

1348
01:09:22,880 --> 01:09:27,000
Speaker 1: Premier Lacrosse League, coming to a stadium near you, uh

1349
01:09:27,040 --> 01:09:28,880
Speaker 1: this summer. Thank you so much. Always good to catch

1350
01:09:28,960 --> 01:09:30,439
Speaker 1: up with you and Michael Barr. This has been so

1351
01:09:30,520 --> 01:09:33,640
Speaker 1: much fun. You know how it was fun because I

1352
01:09:33,640 --> 01:09:37,320
Speaker 1: didn't even eat. All right, we're gonna get you some

1353
01:09:37,360 --> 01:09:40,679
Speaker 1: food now. You've been listening to a special Bloomberg Business

1354
01:09:40,680 --> 01:09:42,800
Speaker 1: of Sports Summit from Bloomberg Radio