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Speaker 1: Signed Charlie Pellett, Hesse and P five hundred. Index closing

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Speaker 1: near a record strongest job gains since October, giving stocks

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Speaker 1: another leg up. SMP climbing thirty two points to twenty

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Speaker 1: Naz dac rallied eighty points today, up one point six

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Speaker 1: percent to forty nine fifty six down. Industrials up two

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Speaker 1: hundred fifty points, up one point four percent to eighteen thousand,

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Speaker 1: one hundred forty six. Tenure up eight thirty seconds that

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Speaker 1: yield one point three five percent, Gold up four dollars

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Speaker 1: the ounce to thirteen sixty six, up three tenths of

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Speaker 1: one percent, and crude oil five cents a barrel forty

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Speaker 1: five nineteen for West Texas Intermediate, a gain of one

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Speaker 1: tenth of one percent. I'm Charlie Pellett. That's a Bloomberg

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Speaker 1: business splash. This is taking stock with Gadley and grim

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Speaker 1: Box on Bloomberg Radio. I want to buy a European

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Speaker 1: soccer team. Well get in line. Chinese companies have agreed

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Speaker 1: to pay at least four hundred million euros over the

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Speaker 1: next two years for a c Milan formerly owned by

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Speaker 1: Silvio Berlisconi, and the sale comes as Chinese investment in

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Speaker 1: European football has grown rapidly. Last month, Chinese retail group

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Speaker 1: Sooning Holdings paid about three hundred million dollars for a

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Speaker 1: seventy stake in inter Milan, another soccer soccer team. Why

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Speaker 1: has this interest so popular? Let's find out from Chris Russo,

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Speaker 1: managing director in the tech, media and telecom group of

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Speaker 1: Hulahan Loki, and he joins us in studio. Chris, thanks

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Speaker 1: for coming in, Thank you for having me. So why

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Speaker 1: would anyone pay four hundred million euros or three hundred

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Speaker 1: million dollars for a European soccer team. Well, I think

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Speaker 1: what you've been seeing over the last couple of years

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Speaker 1: is the economics of these teams get a lot better.

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Speaker 1: Part of that is because of new TV right steals

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Speaker 1: that are really becoming a big, large, compelling revenue streams

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Speaker 1: for these teams, especially in the ep L and some

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Speaker 1: of the other major territories. I think what you're also

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Speaker 1: seeing is that Europe is where the action is right

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Speaker 1: now in terms of teams being available. When you think

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Speaker 1: about the United States, there really aren't that many pro

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Speaker 1: teams that have sold in the past couple of years,

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Speaker 1: So Europe is really the opportunity that people are looking at. Well,

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Speaker 1: do people those still look at European teams and maybe

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Speaker 1: South American teams as the place to get the premier

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Speaker 1: soccer teams because they've been doing it for so long,

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Speaker 1: right and and I think that's one of the reasons

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Speaker 1: why the sports more popular. There's so many people who

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Speaker 1: come in the United States to live they're watching this

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Speaker 1: sport on top of all the kids that's played now

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Speaker 1: for so long, and become soccer fans to a certain extent. Well, well,

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Speaker 1: clearly in other parts of the world soccer has been

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Speaker 1: popular for longer, but now what you see happening in

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Speaker 1: the United States is more and more young fans are

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Speaker 1: becoming English Premier League ands La Liga fans, etcetera. But

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Speaker 1: you're also seeing a lot of strength in Major League

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Speaker 1: Soccer as well, where franchise fees have gone from about

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Speaker 1: ten million dollars to a hundred million dollars over the

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Speaker 1: last ten years. So I think both in terms of

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Speaker 1: the U S teams and the international teams, there's been

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Speaker 1: a lot of growth. Tell us about some of the

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Speaker 1: US investors who have been purchasing these European and English

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Speaker 1: soccer teams. Sure, I recently Josh Harris, who's ahead of

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Speaker 1: Apollo Investments, invested in Crystal Palace. UH. Jason Levian, who

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Speaker 1: owns a d C United, just bought Swansea City. UH.

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Speaker 1: There are a number of existing investors, the Malcolm Glazer

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Speaker 1: family UH and Stan Cronkie. So they're about six Premier

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Speaker 1: League teams now that are owned by Americans, And I

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Speaker 1: think it's becoming viewed as a better investment again, in

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Speaker 1: part because the economics are better, in part because there's

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Speaker 1: a perception that there's even more growth ahead for soccer,

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Speaker 1: both in the US and overseas. Overseas, I'm surprised because

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Speaker 1: I would think that overseas it's already so hot, so

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Speaker 1: strong in many country teas, that's really the only major

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Speaker 1: sport you have. You don't have, you know, four or

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Speaker 1: five like the United States stays. You know. I think

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Speaker 1: that that in terms of maybe the rights fees in

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Speaker 1: in Europe, those are are strong, but there are also

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Speaker 1: opportunities to sell the product via TV and China in

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Speaker 1: the developing world, in the US and South America. So

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Speaker 1: a lot of the revenue streams are not not only

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Speaker 1: being driven by what's happening in Europe, but by the

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Speaker 1: TV distribution to other parts of the world. Well, I

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Speaker 1: note that part of your experience the lengthy list, but

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Speaker 1: part of your experiences the NFL Internet network. That's that

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Speaker 1: business model. Tell us how that can apply to some

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Speaker 1: of these teams. Well, I think what you're seeing with

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Speaker 1: a lot of a lot of teams, especially the most

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Speaker 1: popular ones, is they're looking at themselves as media brands

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Speaker 1: onto themselves. So they're creating over the top networks, video

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Speaker 1: networks that are reaching fans directly, not necessarily in their

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Speaker 1: home territories, but in other parts of the world. So

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Speaker 1: if you're Manchester United, you now have a way to

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Speaker 1: deliver great video content two fans all over the world

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Speaker 1: and be able to charge for that. So I think

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Speaker 1: the dig revolution has really opened up a lot of

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Speaker 1: new revenue streams for these global brands. You know, and

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Speaker 1: yet there's still people who just can't bear to watch

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Speaker 1: soccer live on you know in person or on television

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Speaker 1: because there's not a scoring, it takes too long, etcetera, etcetera. Well,

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Speaker 1: I think I think fans in the US especially are

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Speaker 1: getting a lot more sophisticated in the way they watch

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Speaker 1: the game and understand the beauty and excitement of a

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Speaker 1: great corner kick or a great pass. And so I

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Speaker 1: think as people get more involved in the sport, they

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Speaker 1: become to they come to appreciate things other than just

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Speaker 1: the score. And also the technology that is used in

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Speaker 1: television to show the match has changed absolutely. There are

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Speaker 1: are more interesting graphics and stats and data that make

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Speaker 1: it more compelling. I think you're able to see more

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Speaker 1: pregame and postgame information and recaps and highlights, so all

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Speaker 1: of that enhanced experience really makes it more interesting for

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Speaker 1: the fan. One of the aspects, of course, if this

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Speaker 1: unique summer of soccer, as you like to call Chris Throe,

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Speaker 1: So the Olympics later this summer are going to feature

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Speaker 1: the powerhouse US women's soccer team. But are It seems

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Speaker 1: like the money and the interest in these deals are

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Speaker 1: still much more with men's soccer the women's Is it

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Speaker 1: partly because there just isn't as much women's soccer around

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Speaker 1: the world as as men's well in the United States

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Speaker 1: that the women's U S women's team is very popular,

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Speaker 1: draws huge ratings when when when the team plays in

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Speaker 1: the Olympics of the World Cup. The the US women's

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Speaker 1: leagues have not been as successful as I think people

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Speaker 1: would have hoped, but I do think that that can

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Speaker 1: happen over time, and I think certainly there are a

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Speaker 1: lot of young girls who play soccer growing up who

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Speaker 1: are becoming fans later, and I think there really are

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Speaker 1: bright prospects for women's soccer going forward, even though I

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Speaker 1: think they have a ways to go in terms of

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Speaker 1: the commercial revenues that are generated. I just wonder if

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Speaker 1: you have any thoughts just quickly about the Olympics that

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Speaker 1: are gonna be taking place in Brazil. Is that gonna

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Speaker 1: come off all? Right? Yeah? I I hope it will.

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Speaker 1: I certainly read the same story as you do about

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Speaker 1: some of the channel as they're having there about Zeka,

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Speaker 1: et cetera. But I think once the game gets games

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Speaker 1: get going and people focus on the stories and the competition. Um,

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Speaker 1: my hope is that all all of that will be

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Speaker 1: behind us. Well, we gotta hope for the athletes. We

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Speaker 1: gotta hope for Brazil. They've had a lot of tough

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Speaker 1: stuff this year, Chris Rope, so we hope that you

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Speaker 1: will come back soon. Thank you very much for having me.

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Speaker 1: He's a managing director in the Tech Media Telecom group

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Speaker 1: Kula Han Loki. Here in New York City, I'm Calfe

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Speaker 1: joining us on taking Stock today. We want to thank

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Speaker 1: our erstwell producer day and in day out, Samarrow, Sam Linga.

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