1 00:00:00,880 --> 00:00:03,120 Speaker 1: This is the Bloomberg Business of Sports Show where we 2 00:00:03,160 --> 00:00:05,320 Speaker 1: explore the big money issues in the world of sports. 3 00:00:05,400 --> 00:00:08,879 Speaker 1: I'm Scarlet Folk and Damian Michael Barr is off this week, 4 00:00:08,960 --> 00:00:11,000 Speaker 1: no doubt, getting ready for the big Game. We have 5 00:00:11,039 --> 00:00:13,840 Speaker 1: an exciting show lined up in his absence because we 6 00:00:13,960 --> 00:00:16,200 Speaker 1: are helping you get ready for the Super Bowl. That's right, 7 00:00:16,280 --> 00:00:17,959 Speaker 1: We're going to take you behind the scenes of the 8 00:00:18,000 --> 00:00:21,880 Speaker 1: Big Game. We'll talk with ASM Global CEO rom Bencien 9 00:00:22,079 --> 00:00:24,760 Speaker 1: and Doug Thornton, a s MS Global Executive Vice President 10 00:00:24,800 --> 00:00:27,960 Speaker 1: of Arenas, Stadiums and Theaters. ASM Global is a premier 11 00:00:28,040 --> 00:00:30,960 Speaker 1: venue management company with more than three hundred fifty venues 12 00:00:31,000 --> 00:00:34,680 Speaker 1: around the world, including one State Farm Stadium in Arizona, which, 13 00:00:34,800 --> 00:00:36,120 Speaker 1: by the way, is the host site of this year 14 00:00:36,120 --> 00:00:38,400 Speaker 1: Super Bowl. All that and more is on the way 15 00:00:38,440 --> 00:00:41,360 Speaker 1: on the Bloomberg Business of Sports Show. But first, yes, 16 00:00:41,440 --> 00:00:44,120 Speaker 1: it's a big, big week for football, but it's also 17 00:00:44,159 --> 00:00:47,080 Speaker 1: been very exciting for NBA fans. Yes, it has has 18 00:00:47,120 --> 00:00:49,519 Speaker 1: in its Scarlett a Ton is going on. We had 19 00:00:49,560 --> 00:00:52,880 Speaker 1: to trade deadline with Kevin Durant, Kyrie Irving and Russell 20 00:00:52,920 --> 00:00:54,920 Speaker 1: Westbrook all ending up on new teams and of course 21 00:00:55,240 --> 00:01:05,000 Speaker 1: Lebron James said the milestones Lebron James shot at Heysturday alone, 22 00:01:08,400 --> 00:01:13,560 Speaker 1: scoring record no belongs to Lebron Church. That's right. Lebron 23 00:01:13,640 --> 00:01:16,480 Speaker 1: James is now the NBA's all time scoring leader, as 24 00:01:16,520 --> 00:01:19,679 Speaker 1: you just heard courtesy of t n T here's King 25 00:01:19,760 --> 00:01:22,360 Speaker 1: James speaking to reporters after that milestone. You know, almost 26 00:01:22,360 --> 00:01:24,240 Speaker 1: a storian of the game. So I know what you know, 27 00:01:24,560 --> 00:01:27,319 Speaker 1: guys like Kareem and Wild and MJ and Magic and Bird. 28 00:01:28,040 --> 00:01:30,679 Speaker 1: You know, Oscar Robinson was in better arrest. You know, 29 00:01:31,600 --> 00:01:33,480 Speaker 1: I'm gonna be up here all night talking about so 30 00:01:33,520 --> 00:01:38,400 Speaker 1: many greats and legends, you know, for me, um personally, Um, 31 00:01:38,400 --> 00:01:39,520 Speaker 1: you know, it was just an honor to be just 32 00:01:39,640 --> 00:01:42,240 Speaker 1: named with the greats. Lebron James. They're speaking to reporters 33 00:01:42,280 --> 00:01:46,640 Speaker 1: courtesy of ESPN. That's Lebron on the court, but he's 34 00:01:46,680 --> 00:01:49,320 Speaker 1: doing pretty well for himself off the court scarlet. His 35 00:01:49,400 --> 00:01:52,279 Speaker 1: net worth is now estimated to be around one point 36 00:01:52,320 --> 00:01:55,280 Speaker 1: one billion dollars. So for more, let's bring in Bloomberg 37 00:01:55,320 --> 00:01:58,800 Speaker 1: Wealth team leader Bryan Chapata, who also covers sports Bryan Chapatta. 38 00:01:59,080 --> 00:02:01,280 Speaker 1: Bron James made how Lines this week because, of course, 39 00:02:01,320 --> 00:02:04,440 Speaker 1: he became the top score in the NBA, surpassing Kareem 40 00:02:04,440 --> 00:02:08,120 Speaker 1: Abdul Jabbar. But you guys took a look at his 41 00:02:08,320 --> 00:02:12,160 Speaker 1: business empire and the numbers are going up here. Yeah. 42 00:02:12,200 --> 00:02:14,760 Speaker 1: I mean we've long suspected that Lebron was a billionaire, 43 00:02:14,840 --> 00:02:16,880 Speaker 1: but this seemed like obviously a natural time to go 44 00:02:16,960 --> 00:02:18,600 Speaker 1: back and take a step back and look at just 45 00:02:18,639 --> 00:02:22,560 Speaker 1: how impressive Lebron has been both on and off the court. Um, 46 00:02:22,680 --> 00:02:26,519 Speaker 1: we value his overall fortunate about one point one billion 47 00:02:26,560 --> 00:02:29,160 Speaker 1: dollars UM. That's a combination of all the salary that 48 00:02:29,200 --> 00:02:32,799 Speaker 1: he's gotten, the various sponsorships, his investments, and also his 49 00:02:32,800 --> 00:02:36,080 Speaker 1: his businesses um spring Hill Company, the entertainment business that 50 00:02:36,120 --> 00:02:39,480 Speaker 1: he runs with his longtime business partner among them. So 51 00:02:39,800 --> 00:02:42,120 Speaker 1: it's it's really impressive because he's obviously still playing and 52 00:02:42,240 --> 00:02:44,280 Speaker 1: still very much at the top of his game in 53 00:02:44,320 --> 00:02:46,600 Speaker 1: the n b A and and yet he's also you know, 54 00:02:46,680 --> 00:02:48,720 Speaker 1: really really been accomplished off the court as well. Yeah. 55 00:02:48,720 --> 00:02:51,400 Speaker 1: And what's most amazing is the portfolio of investments that 56 00:02:51,440 --> 00:02:53,680 Speaker 1: he's made, right, I mean, he's not an old man, 57 00:02:53,800 --> 00:02:56,480 Speaker 1: so for him to now own and convert through ownership 58 00:02:56,520 --> 00:02:59,560 Speaker 1: of Liverpool a one percent state Confindway Sports is pretty impressive. 59 00:02:59,560 --> 00:03:02,160 Speaker 1: I mean, he owns a piece of fine sports for 60 00:03:02,200 --> 00:03:04,519 Speaker 1: crying out that, but also Beats electronics which are sold 61 00:03:04,520 --> 00:03:06,840 Speaker 1: to Apple for three billion baeen. I mean, just some 62 00:03:06,880 --> 00:03:09,600 Speaker 1: incredible moves. Talk to us a little bit about some 63 00:03:09,680 --> 00:03:11,760 Speaker 1: of the advice Warren Buffett gave to him. Yeah, I 64 00:03:11,760 --> 00:03:13,440 Speaker 1: thought that was pretty funny. When I was going back 65 00:03:13,480 --> 00:03:15,560 Speaker 1: and thinking about this story, I wanted to see kind 66 00:03:15,560 --> 00:03:18,119 Speaker 1: of what kind of stuff that he's heard from from 67 00:03:18,120 --> 00:03:21,960 Speaker 1: business luminaries and and Buffett was was basically asked to 68 00:03:22,040 --> 00:03:24,320 Speaker 1: address Lebron's question of what should I invest in back in, 69 00:03:25,040 --> 00:03:27,680 Speaker 1: and he said, just just doing index fun man, Like, 70 00:03:29,880 --> 00:03:32,120 Speaker 1: you're really good at basketball, but you're not going to 71 00:03:32,240 --> 00:03:34,480 Speaker 1: also be really good as an investor. It's the same 72 00:03:34,520 --> 00:03:37,880 Speaker 1: advice I give my clients the people who ask. And 73 00:03:37,880 --> 00:03:40,600 Speaker 1: it's pretty funny because I think Lebron has proven to 74 00:03:40,640 --> 00:03:43,720 Speaker 1: be the exception rather than the norm. Um, it's possible 75 00:03:43,760 --> 00:03:46,200 Speaker 1: that obviously past investing would have yielded a lot of 76 00:03:46,240 --> 00:03:48,760 Speaker 1: money for him as well, because he brings into point 77 00:03:48,760 --> 00:03:51,480 Speaker 1: five billion dollars this year. But at the same time, UM, 78 00:03:51,480 --> 00:03:54,240 Speaker 1: he's done really well for himself. Off the court too, 79 00:03:54,320 --> 00:03:57,760 Speaker 1: And and I think that really speaks to the you know, 80 00:03:57,920 --> 00:04:00,560 Speaker 1: he's embraced the moniker of King J Games for so 81 00:04:00,600 --> 00:04:03,080 Speaker 1: long that he's known he was going to be a 82 00:04:03,120 --> 00:04:06,080 Speaker 1: successful basketball player, and he's known that as a result, 83 00:04:06,160 --> 00:04:07,960 Speaker 1: he's going to have to take care of his finances. 84 00:04:08,240 --> 00:04:10,440 Speaker 1: And I think it's been honestly, just like pretty impressive 85 00:04:10,520 --> 00:04:13,680 Speaker 1: overall how he's managed to do that, and he's basically 86 00:04:13,800 --> 00:04:17,359 Speaker 1: created a blueprint for other professional athletes. Um. Back in 87 00:04:17,400 --> 00:04:21,400 Speaker 1: the day, pro athletes signed endorsement deals, that's how they 88 00:04:21,400 --> 00:04:23,240 Speaker 1: made their money along with their salary. But this is 89 00:04:23,240 --> 00:04:27,040 Speaker 1: a whole different level of building equity and companies, associating 90 00:04:27,080 --> 00:04:30,800 Speaker 1: yourself with brands, kind of becoming more than just Lebron 91 00:04:30,880 --> 00:04:33,520 Speaker 1: James of the Cleveland Cavaliers or Lebron James of the 92 00:04:33,640 --> 00:04:35,520 Speaker 1: l A Lakers. Yeah. I think it's a really great 93 00:04:35,560 --> 00:04:38,200 Speaker 1: point and it's something that obviously, through this this podcast, 94 00:04:38,240 --> 00:04:41,160 Speaker 1: were able to to see. It's just this this maturation 95 00:04:41,400 --> 00:04:45,159 Speaker 1: of the professional athlete from just not really knowing what 96 00:04:45,200 --> 00:04:49,680 Speaker 1: to do with becoming a multimillionaire overnight to really thinking 97 00:04:49,920 --> 00:04:52,280 Speaker 1: hard about the role models that they want to follow. 98 00:04:52,720 --> 00:04:55,480 Speaker 1: And yeah, building that equity, finding brands that they believe 99 00:04:55,520 --> 00:04:58,480 Speaker 1: in and not just endorse them, but also kind of 100 00:04:58,480 --> 00:05:00,000 Speaker 1: have a steak and have a skin in the game 101 00:05:00,000 --> 00:05:03,359 Speaker 1: aam um when it comes to ultimately building a fortune 102 00:05:03,960 --> 00:05:07,520 Speaker 1: and building a family business. Because his son Brawny is 103 00:05:07,560 --> 00:05:10,320 Speaker 1: in the prospect and so you know, at some point 104 00:05:10,360 --> 00:05:12,400 Speaker 1: a lot of this will, you know, generationally transfer over 105 00:05:12,400 --> 00:05:14,440 Speaker 1: to his children. But I'm more of the point that 106 00:05:14,760 --> 00:05:16,800 Speaker 1: you know, but by the time this is said and done, 107 00:05:17,200 --> 00:05:18,880 Speaker 1: you know, he could be playing with his son. I mean, 108 00:05:18,880 --> 00:05:20,839 Speaker 1: this is a thirty year old man who's playing in 109 00:05:20,839 --> 00:05:23,080 Speaker 1: the prime of his career, but with over a billion 110 00:05:23,120 --> 00:05:24,640 Speaker 1: dollars in the bank. I mean, he can be play 111 00:05:24,800 --> 00:05:27,120 Speaker 1: pretty much as long as he's healthy, right, wouldn't you say? Yeah? 112 00:05:27,120 --> 00:05:28,760 Speaker 1: I mean I was just looking back at his stats 113 00:05:28,800 --> 00:05:31,680 Speaker 1: and it's really incredible if there's been really no drop off. 114 00:05:31,720 --> 00:05:34,240 Speaker 1: I mean, I think it speaks to obviously his frame 115 00:05:34,240 --> 00:05:36,440 Speaker 1: of mind, his his willingness to put in the work 116 00:05:36,480 --> 00:05:39,920 Speaker 1: in the gym. But I mean, he's he's ranking near 117 00:05:39,960 --> 00:05:43,040 Speaker 1: the top of the league again in points rebounds a system. Obviously, 118 00:05:43,080 --> 00:05:46,159 Speaker 1: the Lakers are not having a great year um and um, 119 00:05:46,200 --> 00:05:47,600 Speaker 1: and it doesn't look like I'm gonna be getting that 120 00:05:47,680 --> 00:05:50,200 Speaker 1: much greater. But at the same time, you know, he's 121 00:05:50,200 --> 00:05:53,320 Speaker 1: still in peak condition and it looks like, yeah, his 122 00:05:53,320 --> 00:05:54,839 Speaker 1: his stated goal is that he would love to play 123 00:05:54,839 --> 00:05:57,440 Speaker 1: with his son, who is a top fifty prospect right 124 00:05:57,440 --> 00:05:59,640 Speaker 1: now senior in high school. Yeah. Something else that I 125 00:05:59,680 --> 00:06:02,720 Speaker 1: know you and Damien have been buzzing about is, um, 126 00:06:02,760 --> 00:06:05,520 Speaker 1: some personnel moves at a certain team in New York. 127 00:06:05,640 --> 00:06:08,440 Speaker 1: Not not the Knicks. Not the Knicks, now, um, the 128 00:06:08,480 --> 00:06:10,560 Speaker 1: Brooklyn Nets. Brian, what do you think about the Brooklyn 129 00:06:10,600 --> 00:06:12,599 Speaker 1: Nets and what they're doing over there? It certainly seems 130 00:06:12,600 --> 00:06:15,880 Speaker 1: like a rebuild, doesn't it. It's uh, it's basically the 131 00:06:15,960 --> 00:06:18,040 Speaker 1: end of an era in the sense of the super 132 00:06:18,080 --> 00:06:21,039 Speaker 1: team that that Brooklyn was trying to build. Remember, James 133 00:06:21,080 --> 00:06:23,560 Speaker 1: Harden was obviously on the team that was supposed to 134 00:06:23,560 --> 00:06:26,159 Speaker 1: be the team that took them to the championship. That 135 00:06:26,560 --> 00:06:29,440 Speaker 1: that that justified at three point five billion dollar purchase 136 00:06:29,520 --> 00:06:32,440 Speaker 1: from Joe pih Um, And now we're pretty much in 137 00:06:32,520 --> 00:06:34,880 Speaker 1: rebuilding mode. Yeah. And you know, I mean apparently Josie 138 00:06:34,960 --> 00:06:36,919 Speaker 1: got a massive haul from this. I'm looking at you know, 139 00:06:36,960 --> 00:06:41,200 Speaker 1: first round picks and a twenty pick swap. My question 140 00:06:41,240 --> 00:06:43,040 Speaker 1: for you is if you look at the Knicks, they 141 00:06:43,040 --> 00:06:44,880 Speaker 1: have a lot of draft picks. Also, do draft picks 142 00:06:44,880 --> 00:06:47,400 Speaker 1: even work in the NBA anymore? I mean that's the question. 143 00:06:47,400 --> 00:06:49,880 Speaker 1: I think it's always, um, you know, do you want 144 00:06:49,880 --> 00:06:52,240 Speaker 1: to things so right? Do you want to take? Do 145 00:06:52,240 --> 00:06:53,600 Speaker 1: you want do you want to take the shut thing? 146 00:06:53,720 --> 00:06:55,479 Speaker 1: Or do you want Nothing is a short thing obviously, 147 00:06:55,520 --> 00:06:58,320 Speaker 1: because of course with Brooklyn Durant missed his first year 148 00:06:58,560 --> 00:07:00,840 Speaker 1: entirely due to injury. Nothing, So nothing is a sure thing. 149 00:07:00,880 --> 00:07:03,360 Speaker 1: I don't want to drink so anything obviously, But um, 150 00:07:03,440 --> 00:07:06,400 Speaker 1: you think about who is running the Phoenix Suns these days, 151 00:07:06,520 --> 00:07:09,279 Speaker 1: and Matt Ishbea is coming in, uh new owner taking 152 00:07:09,320 --> 00:07:11,200 Speaker 1: over for Robert Sarver, And you want to make an 153 00:07:11,240 --> 00:07:13,880 Speaker 1: immediate splash. You don't want to say, Okay, I have 154 00:07:14,000 --> 00:07:16,680 Speaker 1: first round picks and you know, wait a few years, 155 00:07:16,760 --> 00:07:18,760 Speaker 1: wait four or five, six years, and we'll start to 156 00:07:18,800 --> 00:07:20,920 Speaker 1: build this thing up. You want to make a splash 157 00:07:21,000 --> 00:07:23,400 Speaker 1: right away. And I think that's that's a theme that 158 00:07:23,440 --> 00:07:26,960 Speaker 1: you can see across professional sports franchises. UM. We wrote 159 00:07:27,040 --> 00:07:29,680 Speaker 1: last year UM on the Wealth Team about Steve Cohen, 160 00:07:29,840 --> 00:07:33,320 Speaker 1: hedge fund manager and New York Mets owner and how 161 00:07:33,400 --> 00:07:35,840 Speaker 1: he's just willing to spend big to win now. And 162 00:07:35,880 --> 00:07:38,480 Speaker 1: I think that's something that you could maybe extrapolate to 163 00:07:38,480 --> 00:07:40,600 Speaker 1: to why the Sun's made this move right away. I mean, 164 00:07:40,680 --> 00:07:43,320 Speaker 1: Devin Booker, Chris Paul, Chris Paul, I'm Chris Paul. We 165 00:07:43,320 --> 00:07:45,160 Speaker 1: do a lot with Chris Paul here, Bloomberg DeAndre eight 166 00:07:45,200 --> 00:07:46,520 Speaker 1: and I mean it's a super team. I mean the 167 00:07:46,560 --> 00:07:49,120 Speaker 1: other one was Kyrie ir Ring leading right, So you know, 168 00:07:49,160 --> 00:07:51,280 Speaker 1: I guess what comes next for Jota. I mean, the 169 00:07:51,360 --> 00:07:53,040 Speaker 1: verdict is still out, but you know, let's hope he 170 00:07:53,040 --> 00:07:55,280 Speaker 1: doesn't find himself in a situation such as the Knicks 171 00:07:55,280 --> 00:07:57,400 Speaker 1: are in where they have a plethora of draft picks 172 00:07:57,760 --> 00:07:58,960 Speaker 1: and not a whole heck of a lot of talent 173 00:07:59,000 --> 00:08:00,800 Speaker 1: on the roster. Yeah, it's really tough. I mean, the 174 00:08:00,800 --> 00:08:04,040 Speaker 1: New York media market is obviously unrelenting when it comes 175 00:08:04,080 --> 00:08:06,760 Speaker 1: to its sports. But um, I mean, I think to 176 00:08:06,840 --> 00:08:08,880 Speaker 1: your point, he did get a good haul for this. 177 00:08:09,040 --> 00:08:11,520 Speaker 1: It certainly seems like if all the all the reports 178 00:08:11,520 --> 00:08:14,920 Speaker 1: are true, and you've got to really just be judicious 179 00:08:15,120 --> 00:08:17,559 Speaker 1: and and be smart when it comes to the draft. 180 00:08:17,600 --> 00:08:20,400 Speaker 1: I think you've seen you've seen other examples of this 181 00:08:20,560 --> 00:08:23,000 Speaker 1: throughout sports where you can, you can you can really 182 00:08:23,040 --> 00:08:25,960 Speaker 1: rebuild through the draft pretty quickly and build up a team. 183 00:08:25,960 --> 00:08:28,120 Speaker 1: You gotta do it, right. I mean, I was, I've 184 00:08:28,160 --> 00:08:30,400 Speaker 1: been a Chicago Cubs fan, and obviously I still think 185 00:08:30,440 --> 00:08:32,560 Speaker 1: back to that World Series win and that was entirely 186 00:08:32,600 --> 00:08:37,360 Speaker 1: constructed through um, by and large, the draft process in 187 00:08:37,360 --> 00:08:40,640 Speaker 1: in the Major League Baseball. So, um, we'll see what happens. 188 00:08:40,679 --> 00:08:43,560 Speaker 1: But but Joe size plans to win big with the 189 00:08:43,600 --> 00:08:47,400 Speaker 1: splashy super team really hasn't panned out. So is the 190 00:08:47,480 --> 00:08:50,600 Speaker 1: excitement over basketball in New York going to swing back 191 00:08:50,679 --> 00:08:54,800 Speaker 1: to the Knicks from the Nets? Now? We'll see. I mean, um, 192 00:08:55,600 --> 00:08:57,760 Speaker 1: it does seem to swing. But also it seems like 193 00:08:57,800 --> 00:09:02,840 Speaker 1: the loyalties are are pretty firm too firmly entrenched. Yeah, exactly. Um, 194 00:09:02,880 --> 00:09:05,959 Speaker 1: both of them are having ups and downs. Certainly over 195 00:09:06,000 --> 00:09:09,400 Speaker 1: recent years seems more downs than ups. But um, but 196 00:09:09,440 --> 00:09:12,520 Speaker 1: you know, it really only takes one or two really 197 00:09:12,559 --> 00:09:15,280 Speaker 1: really bold moves to to swing things, especially in the NBA. 198 00:09:15,320 --> 00:09:17,160 Speaker 1: I feel like, well, I mean, look, you know, I 199 00:09:17,160 --> 00:09:18,520 Speaker 1: guess at the end of the day, there's been a 200 00:09:18,559 --> 00:09:20,320 Speaker 1: lot of movement here. You know, obviously the Nets are 201 00:09:20,320 --> 00:09:22,559 Speaker 1: in a rebuild. You know, let's talk a little bit 202 00:09:22,600 --> 00:09:25,400 Speaker 1: more of I can ask you about that historic night 203 00:09:25,559 --> 00:09:28,920 Speaker 1: on television when Lebron broke the record. I mean from 204 00:09:28,920 --> 00:09:31,080 Speaker 1: what I heard, it attracted something in the order of 205 00:09:31,320 --> 00:09:33,760 Speaker 1: three point seven million doll like an all time record 206 00:09:34,280 --> 00:09:36,640 Speaker 1: in viewership. That is that, right? Can I just say 207 00:09:36,640 --> 00:09:39,640 Speaker 1: one thing? Did you see still pictures of Um? You know, 208 00:09:39,679 --> 00:09:43,120 Speaker 1: when Lebron broke the record, everyone in the stands had 209 00:09:43,160 --> 00:09:45,319 Speaker 1: their phone in front their face. So yeah, that's it. 210 00:09:45,000 --> 00:09:48,200 Speaker 1: Even Brownie did you might you might have seen on Twitter. 211 00:09:48,280 --> 00:09:51,760 Speaker 1: But but Lebron's sons were right in the right by 212 00:09:51,840 --> 00:09:54,720 Speaker 1: the basket where he where he made that that fateful shot, 213 00:09:55,120 --> 00:09:57,480 Speaker 1: and they both had their phones up the fair way 214 00:09:57,520 --> 00:10:00,240 Speaker 1: to record it. Lebron in the locker room was looking 215 00:10:00,280 --> 00:10:03,200 Speaker 1: at I was looking at the video taken by Brawny 216 00:10:03,280 --> 00:10:06,720 Speaker 1: and was like, that's awesome. Um, but yeah, everyone's looking 217 00:10:06,720 --> 00:10:09,880 Speaker 1: through their phones at the at the moment that it happened. Wow. Well, 218 00:10:09,920 --> 00:10:11,520 Speaker 1: I mean, you want to hear something interesting. I mean, 219 00:10:11,559 --> 00:10:13,800 Speaker 1: I just reading this here. Before Tuesday night, the minimum 220 00:10:13,800 --> 00:10:17,640 Speaker 1: price to get into that game was seven ninety six dollars. 221 00:10:17,679 --> 00:10:20,000 Speaker 1: It was one hundred dollars on Wednes. I mean it's 222 00:10:20,679 --> 00:10:22,400 Speaker 1: just to get into the game. I mean, if you 223 00:10:22,400 --> 00:10:23,959 Speaker 1: were gambling that he was going to break it, then 224 00:10:24,080 --> 00:10:25,679 Speaker 1: I mean it was just a massive moment, you know what. 225 00:10:25,840 --> 00:10:28,160 Speaker 1: Every point after that is a new record. So yeah, 226 00:10:28,760 --> 00:10:30,040 Speaker 1: that's that's a good way to look at I mean, 227 00:10:30,080 --> 00:10:32,920 Speaker 1: I'm just honestly amazed that it was one of those 228 00:10:32,920 --> 00:10:35,800 Speaker 1: records that you were not sure would ever get broken, right. 229 00:10:35,840 --> 00:10:38,520 Speaker 1: I Mean Michael Jordan obviously didn't get there. He also 230 00:10:38,600 --> 00:10:42,080 Speaker 1: obviously took time off multiple times during his career. But 231 00:10:42,120 --> 00:10:45,480 Speaker 1: I think it really also speaks to Lebron's longevity in 232 00:10:45,520 --> 00:10:47,920 Speaker 1: the league. I mean, he just he plays it feels 233 00:10:47,960 --> 00:10:50,120 Speaker 1: like every game. I mean I really can't think of 234 00:10:50,559 --> 00:10:53,600 Speaker 1: many times when he's been out for an extended period. Um, 235 00:10:53,640 --> 00:10:56,199 Speaker 1: not that I track it as closely as as some 236 00:10:56,240 --> 00:10:59,719 Speaker 1: people do, but um, he's just he's almost the cal 237 00:10:59,800 --> 00:11:02,240 Speaker 1: Riff and I would almost say of a basketball he's 238 00:11:02,320 --> 00:11:06,160 Speaker 1: just he's just always there and always putting up exceptional numbers. Yeah. 239 00:11:06,200 --> 00:11:07,640 Speaker 1: I mean, I don't know if anyone caught this, but 240 00:11:07,679 --> 00:11:10,440 Speaker 1: there has been some blowback against Michael Jordan's because he 241 00:11:10,480 --> 00:11:15,800 Speaker 1: didn't really converted commas congratulate Lebron after breaking the record 242 00:11:16,360 --> 00:11:18,400 Speaker 1: where he he you know, it just was a very 243 00:11:18,440 --> 00:11:21,000 Speaker 1: It wasn't like the kind of congratulations I think that 244 00:11:21,200 --> 00:11:23,640 Speaker 1: social media one. It's a sea from Michael Jordan. I 245 00:11:23,679 --> 00:11:26,679 Speaker 1: think I don't know I'm hearing about all this. But nevertheless, look, 246 00:11:26,720 --> 00:11:28,920 Speaker 1: I mean, you know, there's no comparison between the two. 247 00:11:28,960 --> 00:11:31,360 Speaker 1: They're both the goats in my book, you know, in 248 00:11:31,360 --> 00:11:33,599 Speaker 1: their own different ways in different times, and so you know, 249 00:11:33,640 --> 00:11:36,040 Speaker 1: anybody tries to compare them, I mean, good luck. Well, 250 00:11:36,040 --> 00:11:37,800 Speaker 1: the other thing that will be interesting is whether Lebron 251 00:11:37,880 --> 00:11:40,719 Speaker 1: ultimately takes the same path as Michael Jordan's and goes 252 00:11:40,760 --> 00:11:43,319 Speaker 1: into the ownership ranks of the n B a UM. 253 00:11:43,720 --> 00:11:46,360 Speaker 1: The sky's really limit for him. Obviously, with a fortunate 254 00:11:46,400 --> 00:11:49,200 Speaker 1: over a billion dollars already, he can do whatever he wants, really, 255 00:11:49,240 --> 00:11:51,079 Speaker 1: whatever he wants to buy a pickup ball team and 256 00:11:51,800 --> 00:11:54,120 Speaker 1: guess what it done. You can buy every pickupall team 257 00:11:54,200 --> 00:11:58,120 Speaker 1: with that. Brian, thanks so much for stopping by. Brian 258 00:11:58,200 --> 00:12:01,080 Speaker 1: Chapatta is Bloomberg's Wealth Tea leader, and of course you 259 00:12:01,120 --> 00:12:04,440 Speaker 1: can catch his excellent reporting online at Bloomberg dot Com. 260 00:12:04,480 --> 00:12:06,640 Speaker 1: Coming up next on the show, We've Got Ron Bension 261 00:12:06,720 --> 00:12:08,880 Speaker 1: and Doug Thornton of a SM Global that is the 262 00:12:08,880 --> 00:12:11,240 Speaker 1: firm and charge of the venue that's hosting this year's 263 00:12:11,240 --> 00:12:13,760 Speaker 1: Super Bowl. You're listening to the Bloomberg Business of Sports 264 00:12:13,800 --> 00:12:23,800 Speaker 1: from Bloomberg Radio around the world. This is the Bloomberg 265 00:12:23,800 --> 00:12:26,040 Speaker 1: Business of Sports show where we explore the big money 266 00:12:26,080 --> 00:12:29,920 Speaker 1: issues in the world of sports. I'm Scarlet Folk and 267 00:12:30,000 --> 00:12:32,480 Speaker 1: Michael Barr will be back next week. We miss you, 268 00:12:32,600 --> 00:12:34,600 Speaker 1: but Michael is getting ready for one of the biggest 269 00:12:34,679 --> 00:12:37,280 Speaker 1: days on the sports calendar, on the football calendar. It 270 00:12:37,440 --> 00:12:40,480 Speaker 1: is the Super Bowl. It's right, Scarlett. Our next guests 271 00:12:40,679 --> 00:12:42,920 Speaker 1: are going to take us behind the scenes of how 272 00:12:42,920 --> 00:12:45,720 Speaker 1: they're prepping for the Super Bowl at State Farm Stadium 273 00:12:45,720 --> 00:12:49,440 Speaker 1: in Glendale, Arizona. So let's welcome Ron Bension, CEO of 274 00:12:49,520 --> 00:12:52,120 Speaker 1: a SM Global, along with Doug Thornton, a s MS 275 00:12:52,120 --> 00:12:55,920 Speaker 1: Global Executive Vice President of Arenas, Stadiums and Theaters. A 276 00:12:56,080 --> 00:12:59,880 Speaker 1: SM Global operates over three d and fifty venues worldwide, 277 00:13:00,080 --> 00:13:02,880 Speaker 1: but right now we're focused on just one State Farm 278 00:13:02,920 --> 00:13:05,600 Speaker 1: Stadium in Glendale, where the Eagles and Chiefs will face 279 00:13:05,600 --> 00:13:08,079 Speaker 1: off in Super Bowl fifty seven. Oh and by the way, 280 00:13:08,240 --> 00:13:10,679 Speaker 1: Rihanna will also take the stage for the halftime show. Yeah, 281 00:13:10,720 --> 00:13:12,880 Speaker 1: I'm tuning in for that one. Ron, Doug, thank you 282 00:13:12,920 --> 00:13:14,880 Speaker 1: so much for joining us on what is I'm sure 283 00:13:14,960 --> 00:13:17,320 Speaker 1: a very busy week. Ron, Why don't you get us 284 00:13:17,320 --> 00:13:19,800 Speaker 1: started and tell us a little bit about what your 285 00:13:19,880 --> 00:13:24,120 Speaker 1: last few days look like as you head into Superule Sunday. Yeah, 286 00:13:24,160 --> 00:13:26,280 Speaker 1: I mean this is um uh, you know, it's a 287 00:13:26,360 --> 00:13:30,079 Speaker 1: super exciting time. Obviously, UM everything is a little bit 288 00:13:30,320 --> 00:13:34,280 Speaker 1: but a lot of planning goes in there. UM essentially 289 00:13:34,600 --> 00:13:36,960 Speaker 1: committees that are on the ground and operating on the 290 00:13:37,000 --> 00:13:39,319 Speaker 1: ground for you know, well in advance, maybe even a 291 00:13:39,400 --> 00:13:42,640 Speaker 1: year in advance of these, um, these big events, and 292 00:13:42,640 --> 00:13:45,079 Speaker 1: and we've done so many of them. A s M 293 00:13:45,120 --> 00:13:49,439 Speaker 1: globals hosted eleven Super Bowls so far and we are 294 00:13:49,480 --> 00:13:52,480 Speaker 1: hosting the next three. UM, so we've got an awful 295 00:13:52,480 --> 00:13:55,599 Speaker 1: lot of experience UM in hosting these. We've got the 296 00:13:55,640 --> 00:13:59,560 Speaker 1: confidence of the of the NFL, UM and and the 297 00:13:59,640 --> 00:14:02,880 Speaker 1: venues that that hosts these. So UM it's I can't 298 00:14:02,880 --> 00:14:05,600 Speaker 1: say we've been there, done that, but UM, I think 299 00:14:05,640 --> 00:14:08,120 Speaker 1: that the experience of the team on the ground as 300 00:14:08,160 --> 00:14:11,040 Speaker 1: well as UM, you know, from Doug's perspective and the 301 00:14:11,080 --> 00:14:13,199 Speaker 1: senior leadership team that know how to get these kind 302 00:14:13,200 --> 00:14:16,880 Speaker 1: of projects done. Um, we're not running around like chickens 303 00:14:16,880 --> 00:14:19,400 Speaker 1: with her hands off. Well, you know we're on here, 304 00:14:19,440 --> 00:14:21,080 Speaker 1: but I mean for our audience. By the way, before, 305 00:14:21,200 --> 00:14:23,160 Speaker 1: before you joined a s M, right, you're president of 306 00:14:23,200 --> 00:14:26,480 Speaker 1: Live Nation subsidiary Venue Nation right where you oversaw the 307 00:14:26,600 --> 00:14:29,840 Speaker 1: largest portfolio of live music venues in the world. So 308 00:14:29,920 --> 00:14:32,320 Speaker 1: for our audience here, Ron, it should come as no 309 00:14:32,360 --> 00:14:35,600 Speaker 1: surprise that you know, Um, the big money question is 310 00:14:35,640 --> 00:14:38,880 Speaker 1: who brokered Rihanna's this year's halftime before. I mean, I 311 00:14:38,920 --> 00:14:40,920 Speaker 1: love the choice, don't get me wrong, I'm just curious, 312 00:14:40,960 --> 00:14:43,400 Speaker 1: like a decision like that, I mean, where does it reside? 313 00:14:43,440 --> 00:14:45,720 Speaker 1: Is that the stadium? Is it a s M? I mean, 314 00:14:45,760 --> 00:14:48,080 Speaker 1: do you have any influences at the NFL front office 315 00:14:48,200 --> 00:14:51,440 Speaker 1: or another body? Exactly who brokered rihanna Is this year 316 00:14:51,520 --> 00:14:55,200 Speaker 1: is halftime performer? I don't know. Doug might no, but 317 00:14:55,280 --> 00:14:59,120 Speaker 1: I think that's an NFL. Okay, it's an NFL. NFL decision. 318 00:14:59,200 --> 00:15:01,960 Speaker 1: Damian Daire are the ones that picked the talent, you 319 00:15:02,000 --> 00:15:04,560 Speaker 1: know for the show, but they would use a company 320 00:15:04,640 --> 00:15:08,880 Speaker 1: like Light Nation typically to access that talent. Understood, understood 321 00:15:08,880 --> 00:15:10,840 Speaker 1: and look I mean, you know, I guess the other 322 00:15:10,880 --> 00:15:12,520 Speaker 1: thing I'd have for you. I mean, I mean, Doug going. 323 00:15:12,600 --> 00:15:15,520 Speaker 1: You know, you're obviously you know the Super Bowl. You know, 324 00:15:15,600 --> 00:15:17,400 Speaker 1: there's been all this talk. I believe State Farm is 325 00:15:17,440 --> 00:15:19,840 Speaker 1: eighty eight luxury boxes. I think you've had to build 326 00:15:19,840 --> 00:15:22,080 Speaker 1: a lot more for the event, you know, I mean, 327 00:15:22,480 --> 00:15:24,920 Speaker 1: as Scarlett wive test, I'm quite wealthy, right, I mean, 328 00:15:24,920 --> 00:15:27,080 Speaker 1: I'm not private jet wealthy. But you know, I'm just 329 00:15:27,160 --> 00:15:29,240 Speaker 1: now emailing with my ticket broker and she quoted me 330 00:15:29,280 --> 00:15:32,000 Speaker 1: one club level suite, eighteen tickets to v I P 331 00:15:32,000 --> 00:15:35,480 Speaker 1: parking passes for a million fifty. I mean, you know 332 00:15:36,640 --> 00:15:39,160 Speaker 1: it's chump change, right. I mean, so, so here's the 333 00:15:39,240 --> 00:15:42,800 Speaker 1: question I have. You know, compare that to I don't know, 334 00:15:43,120 --> 00:15:46,720 Speaker 1: Taylor Swift will be performing in March or Metallica in September, 335 00:15:46,800 --> 00:15:48,480 Speaker 1: you know, for a suite there. I mean, is this 336 00:15:48,640 --> 00:15:52,560 Speaker 1: just astronomical a million fifty or do we even scratch 337 00:15:52,640 --> 00:15:56,040 Speaker 1: the surface with other other artists like Taylor Swift. Well, 338 00:15:56,480 --> 00:15:59,360 Speaker 1: it's exponentially higher than what you would see for a concert, 339 00:15:59,400 --> 00:16:03,320 Speaker 1: but space on market demand. Uh. And what's happened over 340 00:16:03,360 --> 00:16:06,640 Speaker 1: the last twenty five years is the Super Bowl has 341 00:16:06,680 --> 00:16:08,920 Speaker 1: become the largest event on the planet, and it is 342 00:16:09,000 --> 00:16:14,960 Speaker 1: a major corporate event. UH tickets are you know, averaging 343 00:16:15,800 --> 00:16:18,080 Speaker 1: five hundred and nine thousand dollars. You know, the lowest 344 00:16:18,120 --> 00:16:21,360 Speaker 1: price ticket face value is probably in the upper deck. 345 00:16:22,240 --> 00:16:26,200 Speaker 1: So it's largely a corporate event. UH. The NFL understands that. 346 00:16:26,280 --> 00:16:29,880 Speaker 1: I mean, some of the participating team. UH fans will 347 00:16:29,920 --> 00:16:33,840 Speaker 1: have a chance to buy tickets through their respective organizations, 348 00:16:33,880 --> 00:16:37,080 Speaker 1: but UM, it's based on market demand, and I mean, 349 00:16:37,120 --> 00:16:38,840 Speaker 1: I think you could probably get it for nine hundred 350 00:16:38,880 --> 00:16:48,240 Speaker 1: thousand on Saturday. Keep strolling through there. But Tip gave 351 00:16:48,320 --> 00:16:52,680 Speaker 1: you let me just jump in here. You've been at 352 00:16:53,080 --> 00:16:56,080 Speaker 1: a s M for twenty seven years, and uh Ron 353 00:16:56,080 --> 00:16:58,680 Speaker 1: mentioned how the company has hosted eleven Super Bowls. You 354 00:16:58,800 --> 00:17:01,440 Speaker 1: are on top for the next, uh for this one 355 00:17:01,480 --> 00:17:04,160 Speaker 1: and the two after that, so that's another three. So 356 00:17:04,200 --> 00:17:07,080 Speaker 1: that's a lot of experience in doing this, UM, hosting 357 00:17:07,119 --> 00:17:09,679 Speaker 1: this big game. Can you talk a little bit about 358 00:17:09,720 --> 00:17:15,400 Speaker 1: how we know the game has grown in size and importance, UM, 359 00:17:15,640 --> 00:17:19,520 Speaker 1: in cost and in revenue generated. How have fan expectations 360 00:17:19,640 --> 00:17:22,480 Speaker 1: changed throughout the years from what used to just be 361 00:17:22,560 --> 00:17:26,720 Speaker 1: a really important game for the fans of two teams 362 00:17:27,160 --> 00:17:30,320 Speaker 1: to an all encompassing entertainment experience to now what's become 363 00:17:30,520 --> 00:17:32,680 Speaker 1: as a George Pine of bruin Sports Capital was helping 364 00:17:32,680 --> 00:17:35,080 Speaker 1: me a week long trade show for people who are 365 00:17:35,119 --> 00:17:38,480 Speaker 1: in the industry. Well, it is, it is. I actually 366 00:17:38,600 --> 00:17:41,359 Speaker 1: characterize it as an NFL convention. It's like an end 367 00:17:41,400 --> 00:17:46,600 Speaker 1: of the year celebration of football, week long celebration. And 368 00:17:46,720 --> 00:17:49,080 Speaker 1: what has happened in the last thirty years I've seen 369 00:17:49,119 --> 00:17:52,320 Speaker 1: this actually since the last super Bowl that was hosted 370 00:17:52,320 --> 00:17:57,119 Speaker 1: in Phoenix in nine this exponential growth and what the 371 00:17:57,160 --> 00:18:00,240 Speaker 1: super Bowl can mean for your community. There are so 372 00:18:00,320 --> 00:18:04,159 Speaker 1: many events that take place in and around the city 373 00:18:04,200 --> 00:18:08,480 Speaker 1: the destination. Uh there are probably thirty five or forty 374 00:18:08,600 --> 00:18:13,359 Speaker 1: sanctioned events this week that will will take place um 375 00:18:13,400 --> 00:18:16,560 Speaker 1: in the Phoenix area, not just at the game. Jim Steig, 376 00:18:16,600 --> 00:18:20,840 Speaker 1: who was the former executive vice president for UH the NFL, 377 00:18:20,840 --> 00:18:22,639 Speaker 1: who ran Super Bowl for many years, used to call 378 00:18:22,720 --> 00:18:25,399 Speaker 1: it at four hour excuse for four day party. And 379 00:18:25,440 --> 00:18:27,920 Speaker 1: I think that's true. The super Bowl is a four 380 00:18:27,920 --> 00:18:31,920 Speaker 1: hour game, but uh, it's a four to five day event. Yeah. 381 00:18:31,960 --> 00:18:35,640 Speaker 1: I think that the key point is the outside outside 382 00:18:35,680 --> 00:18:41,760 Speaker 1: the game hospitality. I mean there's if you go around there. 383 00:18:41,800 --> 00:18:44,159 Speaker 1: We've seen some drone footage. I mean, it's tense city 384 00:18:44,680 --> 00:18:50,639 Speaker 1: of very high end hospitality, multiple levels of entertainment and 385 00:18:50,640 --> 00:18:53,879 Speaker 1: and and nightly events and daily events. And so I 386 00:18:53,920 --> 00:18:57,320 Speaker 1: think Doug's right at it's an NFL convention and in 387 00:18:57,440 --> 00:19:01,280 Speaker 1: all of all of the ancillary business is associated with that. 388 00:19:01,800 --> 00:19:04,920 Speaker 1: UM tend to tend to come out here and and 389 00:19:05,359 --> 00:19:08,639 Speaker 1: entertain during those times. So it's it's not the game, 390 00:19:08,680 --> 00:19:11,119 Speaker 1: it's it's it's everything, but the game that's changed. Well, Ron, 391 00:19:11,160 --> 00:19:12,640 Speaker 1: I wonder if you could expand on that. I mean, 392 00:19:12,640 --> 00:19:15,119 Speaker 1: we know a s M, you know, was instrumental in 393 00:19:15,160 --> 00:19:18,600 Speaker 1: the development of places like l A Live, Mercedes Benzerena 394 00:19:18,600 --> 00:19:21,320 Speaker 1: in Germany. You know, newly constructed venues that come with 395 00:19:21,440 --> 00:19:24,159 Speaker 1: really what you're talking about here and outdoor playground you know, 396 00:19:24,480 --> 00:19:28,480 Speaker 1: you know, theaters, restaurants, museums, hotels, etcetera. You know, talk 397 00:19:28,560 --> 00:19:31,200 Speaker 1: to us about that. Is that really the layout as 398 00:19:31,320 --> 00:19:33,080 Speaker 1: you know many of these new stadiums are built as 399 00:19:33,080 --> 00:19:35,800 Speaker 1: these renovations go on with many of these older stadiums, 400 00:19:36,040 --> 00:19:38,920 Speaker 1: Is that really, you know, the blueprint for success? Yeah? 401 00:19:38,960 --> 00:19:41,680 Speaker 1: I think I think it is. I think UM Sports 402 00:19:41,960 --> 00:19:45,760 Speaker 1: UM concerts, they become more of a social event, and 403 00:19:45,800 --> 00:19:48,800 Speaker 1: then then I have to go see you know, Group 404 00:19:49,040 --> 00:19:51,359 Speaker 1: X or Game Y. There's still the hardcore fans that 405 00:19:51,400 --> 00:19:53,440 Speaker 1: have to go see them. But what people are is 406 00:19:54,280 --> 00:19:58,720 Speaker 1: making these events as just one element of their their 407 00:19:59,240 --> 00:20:03,560 Speaker 1: their entertainment for that day. And so having external entertainment 408 00:20:03,560 --> 00:20:06,760 Speaker 1: districts outside of these events that are huge you know, 409 00:20:06,800 --> 00:20:10,280 Speaker 1: attention straws and so you know, seventy people walking through 410 00:20:10,280 --> 00:20:14,120 Speaker 1: those gates and creating an environment where people can hang 411 00:20:14,160 --> 00:20:16,159 Speaker 1: out before the game, hang out after the game, and 412 00:20:16,160 --> 00:20:18,680 Speaker 1: in some cases hang out during the game. You're seeing 413 00:20:18,720 --> 00:20:26,240 Speaker 1: seeing more uh premium spaces inside venues that are hangouts 414 00:20:26,280 --> 00:20:28,399 Speaker 1: that people hang out can't even see the game in 415 00:20:28,440 --> 00:20:32,080 Speaker 1: some cases because people are are really um you know, 416 00:20:32,080 --> 00:20:35,879 Speaker 1: taking advantage of the social atmosphere that the game allows for. 417 00:20:36,400 --> 00:20:38,560 Speaker 1: And so so yeah, I think it is the blueprint. 418 00:20:38,600 --> 00:20:43,800 Speaker 1: I think where owners and cities can um accommodate and 419 00:20:43,960 --> 00:20:47,160 Speaker 1: entertainment district within you know, walking distance, who are within 420 00:20:47,200 --> 00:20:51,679 Speaker 1: the entry exit traffic patterns of of a major sports 421 00:20:51,760 --> 00:20:55,760 Speaker 1: facility or arena. We manage an arena right across the 422 00:20:55,800 --> 00:20:58,960 Speaker 1: way from UH the state farm that has one of 423 00:20:59,000 --> 00:21:02,199 Speaker 1: the best entertainment of districts UM in in all of 424 00:21:02,640 --> 00:21:06,800 Speaker 1: the US. So, UM, we understand that dynamic of putting 425 00:21:07,200 --> 00:21:14,240 Speaker 1: outside retail entertainment UM and experiences within you know, legs 426 00:21:14,240 --> 00:21:17,960 Speaker 1: reach of a of an arena. Of course, this year, UM, 427 00:21:17,960 --> 00:21:19,760 Speaker 1: when you host the Super Bowl, and I know we 428 00:21:19,880 --> 00:21:22,399 Speaker 1: just talked about how this is a big dollar event 429 00:21:22,600 --> 00:21:26,000 Speaker 1: and obviously people go into this celebrating the sport of football, 430 00:21:26,040 --> 00:21:30,280 Speaker 1: celebrating the industry. UM. So people are ready to lay 431 00:21:30,280 --> 00:21:32,200 Speaker 1: out a lot of cash. But I wonder how current 432 00:21:32,200 --> 00:21:36,639 Speaker 1: economic conditions in which you have rising inflation. There's definitely 433 00:21:36,640 --> 00:21:39,680 Speaker 1: supply chain issues that are still being worked through, uh, 434 00:21:39,720 --> 00:21:41,840 Speaker 1: and also a tight labor market which makes it difficult 435 00:21:41,880 --> 00:21:44,760 Speaker 1: to hire on the spot. How does that impact a 436 00:21:44,880 --> 00:21:48,320 Speaker 1: sensibility to prep for this Super Bowl as opposed to 437 00:21:48,359 --> 00:21:53,080 Speaker 1: the past when economic conditions were very different and and perhaps, UM, Doug, 438 00:21:53,119 --> 00:21:54,600 Speaker 1: this is a question for you, given that you're on 439 00:21:54,600 --> 00:21:57,760 Speaker 1: the ground right now in Phoenix. Well I can answer 440 00:21:57,800 --> 00:22:01,520 Speaker 1: that for you. UM, we have seen it's some inflationary pressures. 441 00:22:01,560 --> 00:22:05,880 Speaker 1: You know, Unlike UM other you know markets, Phoenix has 442 00:22:05,920 --> 00:22:08,320 Speaker 1: not been impacted as much as uh, you know, some 443 00:22:08,359 --> 00:22:11,920 Speaker 1: of the other cities. We have we're fully staffed. We've 444 00:22:11,920 --> 00:22:15,159 Speaker 1: been fully staffed for the entire football season. But you know, 445 00:22:15,320 --> 00:22:18,280 Speaker 1: like other cities, we're seeing pressure on wages, you know, 446 00:22:18,320 --> 00:22:23,399 Speaker 1: anywhere from fifteen increases across the board for various disciplines. 447 00:22:23,760 --> 00:22:29,119 Speaker 1: But there will be literally thousands of workers. Uh. There 448 00:22:29,160 --> 00:22:33,679 Speaker 1: are probably eight hundred credential workers that will be on 449 00:22:33,800 --> 00:22:39,360 Speaker 1: site uh for the game uh this weekend, ranging from 450 00:22:39,400 --> 00:22:42,399 Speaker 1: security to guest services, food service production. You just go 451 00:22:42,440 --> 00:22:46,360 Speaker 1: down the list. Uh. Many of those folks are third 452 00:22:46,400 --> 00:22:50,160 Speaker 1: party vendors who will be uh flown in from other jurisdictions, 453 00:22:50,760 --> 00:22:54,919 Speaker 1: subcontractors to the NFL, subcontractors to us. Uh. Some of 454 00:22:54,920 --> 00:22:57,680 Speaker 1: them are full time staff that we would have employed 455 00:22:57,720 --> 00:23:00,520 Speaker 1: at the stadium. But uh, we'll be fully staff. It's 456 00:23:00,560 --> 00:23:03,120 Speaker 1: not going to impact us at all. Yeah, I would think, 457 00:23:03,240 --> 00:23:05,840 Speaker 1: I would say, given the fact that you have so 458 00:23:05,920 --> 00:23:08,520 Speaker 1: much time to plan for this meeting, and given this 459 00:23:08,520 --> 00:23:11,200 Speaker 1: this this game event, and given the fact that we've 460 00:23:11,240 --> 00:23:14,960 Speaker 1: done so many of these, I think we're able to 461 00:23:15,000 --> 00:23:18,240 Speaker 1: really look at and understand where there are going to 462 00:23:18,280 --> 00:23:21,080 Speaker 1: be any issues, whether it's um, you know, it's on 463 00:23:21,200 --> 00:23:25,000 Speaker 1: staffing or equipment supply, supply chain kind of stuff. And 464 00:23:25,080 --> 00:23:27,800 Speaker 1: we know where to look, and we know how to 465 00:23:27,880 --> 00:23:31,920 Speaker 1: react and do whatever it takes to bring in UM 466 00:23:32,040 --> 00:23:34,440 Speaker 1: and ensure that we were ready to go. So you've 467 00:23:34,440 --> 00:23:37,920 Speaker 1: got the ability um in the luxury of time to plan. 468 00:23:38,400 --> 00:23:40,440 Speaker 1: And I think you have the ability and luxury of 469 00:23:40,440 --> 00:23:42,960 Speaker 1: of of of a s M and tooting our hand 470 00:23:43,080 --> 00:23:45,320 Speaker 1: or and but it's well deserved. Who really gets this 471 00:23:45,359 --> 00:23:49,120 Speaker 1: game and understands how to produce big events? Well, I mean, 472 00:23:49,200 --> 00:23:50,760 Speaker 1: you know, Ron, you make a great point. You've got 473 00:23:50,840 --> 00:23:54,000 Speaker 1: venues abroad and cities ranging from what Sydney and Kowloon 474 00:23:54,040 --> 00:23:56,840 Speaker 1: to buy in Berlin. You know, how does the international 475 00:23:56,840 --> 00:23:58,720 Speaker 1: experience compare with that of the U S. And I'm 476 00:23:58,720 --> 00:24:01,040 Speaker 1: not talking to Super Bowl specifically, but I'm really talking 477 00:24:01,080 --> 00:24:03,320 Speaker 1: about what what kind of hinting playing off what Scarlett 478 00:24:03,359 --> 00:24:06,399 Speaker 1: was saying about inflation you know going up or remaining 479 00:24:06,440 --> 00:24:09,520 Speaker 1: sticky high and growth coming down globally. You know how 480 00:24:09,600 --> 00:24:12,280 Speaker 1: from a P and O perspective, you know the costs, 481 00:24:12,359 --> 00:24:14,600 Speaker 1: You know the expenses that go into holding an event 482 00:24:14,800 --> 00:24:17,399 Speaker 1: like this, you know the revenue, you know the match, 483 00:24:17,480 --> 00:24:20,040 Speaker 1: you know the margins. You know, how do you compare? 484 00:24:20,080 --> 00:24:23,040 Speaker 1: You know internationally? What what goes on their relative to 485 00:24:23,040 --> 00:24:25,040 Speaker 1: what goes on here domestically in the US. I mean, look, 486 00:24:25,080 --> 00:24:28,280 Speaker 1: we have three in or fifty buildings around the around 487 00:24:28,280 --> 00:24:33,720 Speaker 1: the globe UM from arenas stadiums to small smaller venues, 488 00:24:34,280 --> 00:24:39,040 Speaker 1: UM theaters and colosseums and and UH convention centers. So 489 00:24:39,119 --> 00:24:42,679 Speaker 1: we we have data from you know, across the globe 490 00:24:42,680 --> 00:24:45,080 Speaker 1: that we can look at to understand what's happening on 491 00:24:45,119 --> 00:24:48,800 Speaker 1: a macro basis in our business. So what we were 492 00:24:48,800 --> 00:24:51,560 Speaker 1: able to do is really look at at the macroeconomic 493 00:24:51,640 --> 00:24:55,439 Speaker 1: issues and make you know, decisions on the fly, you know, 494 00:24:55,800 --> 00:24:58,760 Speaker 1: based on what we see. I would say from a 495 00:24:59,760 --> 00:25:04,680 Speaker 1: you inflation perspective, the only area that's really been tough 496 00:25:04,840 --> 00:25:08,600 Speaker 1: is energy costs in Europe. UM obviously due to you know, 497 00:25:08,640 --> 00:25:11,440 Speaker 1: what's going on over there, but even they are subsidies, 498 00:25:11,480 --> 00:25:15,240 Speaker 1: subsiding a little bit. UM. I think everybody has seen 499 00:25:15,320 --> 00:25:18,439 Speaker 1: some inflationary and wages and and cost of goods and 500 00:25:18,480 --> 00:25:20,640 Speaker 1: things like that, and some of it gets passed on. 501 00:25:20,680 --> 00:25:24,320 Speaker 1: Some of it UM we deal with just through efficiency 502 00:25:24,400 --> 00:25:27,639 Speaker 1: and other and other other pieces of it we have 503 00:25:27,720 --> 00:25:30,880 Speaker 1: to eat. So UM. You know, you just keep monitoring 504 00:25:30,920 --> 00:25:35,080 Speaker 1: all that you you're able to really view UM again, 505 00:25:35,240 --> 00:25:38,440 Speaker 1: really the macroeconomics of our business and really make changes 506 00:25:38,720 --> 00:25:41,439 Speaker 1: in one market that may not affect another market. And 507 00:25:41,440 --> 00:25:44,480 Speaker 1: we're able to kind of be quite nimble for for 508 00:25:44,560 --> 00:25:46,960 Speaker 1: both our clients and our company and in uh in 509 00:25:47,119 --> 00:25:50,720 Speaker 1: ensuring that we're driving revenues and profitability to the n 510 00:25:50,760 --> 00:25:53,040 Speaker 1: use ROB Before we let you go, I just wanted 511 00:25:53,080 --> 00:25:57,160 Speaker 1: to get your take. Damien recounted your bio and how 512 00:25:57,560 --> 00:26:00,240 Speaker 1: you were the president of ven your nation just a 513 00:26:00,240 --> 00:26:04,359 Speaker 1: division of Live Nation through. I'm curious on your take 514 00:26:04,600 --> 00:26:09,960 Speaker 1: of the congressional hearings taking place on Ticketmaster and Taylor Swift. Yeah, 515 00:26:10,000 --> 00:26:13,679 Speaker 1: I don't. I don't have an opinion. Um, you know, 516 00:26:13,720 --> 00:26:16,280 Speaker 1: it was it was. It was, you know, a major 517 00:26:16,400 --> 00:26:19,480 Speaker 1: major issue. I think Ticketmasters fested up to it. Um 518 00:26:19,640 --> 00:26:22,000 Speaker 1: And I'm not going to get into the politics all that. 519 00:26:22,359 --> 00:26:27,160 Speaker 1: It's really not not my forte or or experience. UM. Ticketmaster. 520 00:26:27,640 --> 00:26:32,000 Speaker 1: You know they're doing the bance sale. Everything's going well. UM, 521 00:26:32,200 --> 00:26:34,400 Speaker 1: that's all I can. You know, what's the best way 522 00:26:34,440 --> 00:26:36,560 Speaker 1: for someone who wants to get a ticket but seems 523 00:26:36,560 --> 00:26:38,520 Speaker 1: to always be behind the curve when they do go 524 00:26:38,600 --> 00:26:42,240 Speaker 1: on Ticketmaster or any of those um websites that supposedly 525 00:26:42,280 --> 00:26:44,720 Speaker 1: can get them tickets when they are first released. How 526 00:26:44,760 --> 00:26:47,840 Speaker 1: do they work through that? Yeah, look, that's there. There 527 00:26:47,880 --> 00:26:50,439 Speaker 1: there are issues with respect to bots. There are issues 528 00:26:50,440 --> 00:26:53,159 Speaker 1: with respect pre sales. But I talked to a lot 529 00:26:53,200 --> 00:26:55,560 Speaker 1: of people who have gotten Beyonce tickets and a lot 530 00:26:55,560 --> 00:26:58,399 Speaker 1: of people who got Taylor Swift tickets. Um, you know, 531 00:26:58,520 --> 00:27:01,439 Speaker 1: things happened on or Swift that didn't happen on Beyonce 532 00:27:01,640 --> 00:27:03,919 Speaker 1: that didn't happen on the sale of Super Bowl tickets. 533 00:27:03,920 --> 00:27:06,359 Speaker 1: I mean they're there are these high pressure sales that 534 00:27:06,440 --> 00:27:09,600 Speaker 1: come out, um, and and things happen, But for the 535 00:27:09,600 --> 00:27:12,080 Speaker 1: most part, there are you know, Ticketmaster has systems of 536 00:27:12,119 --> 00:27:14,960 Speaker 1: waiting rooms and and allowing people to know where they 537 00:27:14,960 --> 00:27:19,879 Speaker 1: sit in the queue. Um. And ultimately they service and 538 00:27:19,960 --> 00:27:24,200 Speaker 1: sell millions and millions and millions of tickets annually. So 539 00:27:24,480 --> 00:27:27,359 Speaker 1: they're good at what they do. And and unfortunately, uh, 540 00:27:27,400 --> 00:27:29,920 Speaker 1: they had a problem in this particular case. And Ron 541 00:27:29,960 --> 00:27:31,880 Speaker 1: and just just just one last thing. I know you're 542 00:27:31,920 --> 00:27:34,119 Speaker 1: you know, you're hosting the Super Bowl the next two years. 543 00:27:34,200 --> 00:27:36,040 Speaker 1: Just making a pitch here. I know it's not your call, 544 00:27:36,119 --> 00:27:39,440 Speaker 1: but Pearl Jam, great halftime show, I mean, great band. 545 00:27:39,520 --> 00:27:41,480 Speaker 1: I don't know if you've ever heard of. You know, 546 00:27:41,520 --> 00:27:45,520 Speaker 1: I don't know if you've a wonderful guys, thanks so much. 547 00:27:45,520 --> 00:27:47,920 Speaker 1: It was awesome. This is the Bloomberg Business of Sports show. 548 00:27:48,000 --> 00:27:50,200 Speaker 1: We're here each and every week at the same time. 549 00:27:50,400 --> 00:27:53,560 Speaker 1: We're also online, you know. It is wherever you get 550 00:27:53,560 --> 00:27:57,040 Speaker 1: your podcasts. You can catch those on Monday's, Wednesdays and Thursdays. 551 00:27:57,119 --> 00:27:59,080 Speaker 1: And of course reach out to us on social media. 552 00:27:59,200 --> 00:28:01,600 Speaker 1: I'm at scar at food on Twitter and I'm at 553 00:28:01,760 --> 00:28:04,720 Speaker 1: d Thanks so much for joining us. Tune in again 554 00:28:04,800 --> 00:28:06,720 Speaker 1: next week for the latest on the stories moving big 555 00:28:06,760 --> 00:28:08,960 Speaker 1: money in the world of sports. You're listening to Bloomberg 556 00:28:08,960 --> 00:28:11,320 Speaker 1: Business of Sports from Bloomberg Radio around the world.