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Speaker 1: Bloomberg Audio Studios, Podcasts, radio News.

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Speaker 2: I'm Jason Kelly, I'm Alex Rodriguez, and today on the Deal,

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Speaker 2: Carolyn Tish blodget. She is a fascinating figure, Alex right

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Speaker 2: at the white Hot center of sports ownership. Her family

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Speaker 2: has co owned the New York Giants for about thirty years.

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Speaker 2: She is now the lead owner of Gotham FC. That's

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Speaker 2: the NWSL franchise here in the New York, New Jersey area.

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Speaker 2: They have been wildly successful and she.

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Speaker 3: Is very successful. Yeah, and she has a great background.

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Speaker 4: I mean, she was global head of marketing at Peloton

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Speaker 4: where she helped grow that market capture over thirty billion dollars.

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Speaker 4: And I actually think the set of skills that she

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Speaker 4: used there are going to really impact the way she

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Speaker 4: runs Gotham today.

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Speaker 2: Knows a lot about growing businesses and growing them fast.

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Speaker 2: All right, here's Carolyn Tish Blodget, So please introduce yourself.

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Speaker 5: I'm Carolyn Tish Blodgett, CEO and founder of Next Three,

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Speaker 5: governor of Gotham FC, and strategic advisor to the Tish

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Speaker 5: family at the Giants.

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Speaker 3: So, Carolyn, your signature deal.

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Speaker 2: I think it's buying Gotham FC, would you agree and

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Speaker 2: tell us about the decision to do that.

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Speaker 3: We're jumping right in.

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Speaker 5: We are jumping right in exactly. I thought we were

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Speaker 5: in a little warm up. No, we are jumping right in. Okay, well,

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Speaker 5: I am going to take us back for a minute

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Speaker 5: to put the Gotham deal in perspective, although I agree

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Speaker 5: it has been our signature deal so far. So my

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Speaker 5: background's in operating. I ran marketing at Pelton for four years.

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Speaker 5: My family has co owned the New York Giants for

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Speaker 5: the last thirty seven years, and so I started working

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Speaker 5: with my family a few years ago at the Giants.

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Speaker 5: And the idea was really to bring a lot of

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Speaker 5: the innovative things thinking that I learned from Peloton, and

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Speaker 5: bring it to a legacy organization like the Giants. And

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Speaker 5: I realized pretty quickly that obviously not news to either

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Speaker 5: of you, that sports was changing, and we as legacy owners,

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Speaker 5: had an opportunity either to kind of lean back and

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Speaker 5: continue to watch it, or we could lean in and

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Speaker 5: really help drive some of that innovation. And so I

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Speaker 5: brought this idea to my family of starting a sports

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Speaker 5: investment firm. It's now called Next three. To your question

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Speaker 5: on you know is Gotham the signature of it. I

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Speaker 5: would say I started next three really with the agenda

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Speaker 5: only being where do we what do we think sports

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Speaker 5: will look like in the next thirty years? You know,

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Speaker 5: we've been in sports for thirty years, what will the

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Speaker 5: next thirty look like? There was not a thesis or

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Speaker 5: you know, I often now get questions around women's sports

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Speaker 5: and you know, did you start this because you played

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Speaker 5: soccer growing up or you know you have a passion

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Speaker 5: for women's sports, and obviously I now do. But it

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Speaker 5: was really just meant to be what do we think

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Speaker 5: sports will look like in the future, And there was

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Speaker 5: just sign after sign that pointed to the growth of

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Speaker 5: women's and in particular the growth of the NWSL.

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Speaker 2: What was that moment like where you decided to make

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Speaker 2: the investment and then essentially you got it, like you're

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Speaker 2: in charge. Tell us about sort of what it felt

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Speaker 2: like in that moment and what you were thinking.

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Speaker 5: Yeah, so, you know, deals always take longer than you

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Speaker 5: think they're going to. So we had actually planned to

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Speaker 5: announce around the World Cup. We had planned to announce

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Speaker 5: when we were going to the playoffs. There were kind

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Speaker 5: of all these moments and then the deal didn't get finished.

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Speaker 5: It didn't get finished, so it ends up closing on

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Speaker 5: a Tuesday, or re anounced it on a Tuesday. We

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Speaker 5: wire the check on Wednesday. On Thursday, I get on

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Speaker 5: a plane to fly out. They were in the championship

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Speaker 5: in San Diego on Thursday. I get off the plane.

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Speaker 5: You know, I'm like still wearing my glasses, can like

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Speaker 5: barely see. I like where my one Gotham sweatshirt I have?

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Speaker 5: And we land and I get to the team hotel

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Speaker 5: and the media person pulls me aside and she's like, great,

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Speaker 5: now you're going to address the team. And I was

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Speaker 5: like wait, need and they're like, yeah, the team's having lunch,

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Speaker 5: you know, stand up and tell them why you're here.

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Speaker 5: And I was so nervous. I was so intimidated, Like

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Speaker 5: I'm looking at this room full of people that are on,

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Speaker 5: you know, two days away from playing in a championship game,

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Speaker 5: completely intimidated. And god knows what I said, but many

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Speaker 5: of the players came up to me after and they

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Speaker 5: all said thank you for being here. And it was

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Speaker 5: this moment where I realized we had so many months

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Speaker 5: to prepare for this moment, and it's going to be

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Speaker 5: so different than we thought it is. This is not,

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Speaker 5: you know, an investment in an ad tech company. This

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Speaker 5: is not even Peloton, which I did feel like I

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Speaker 5: personally threw myself into. This was so personal and I

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Speaker 5: know that you know, most of what we're gonna talk

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Speaker 5: about today is probably you know, how we look at

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Speaker 5: it as an investment. But I think that was the

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Speaker 5: first moment that it was so clear to me that

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Speaker 5: even just showing up and showing our commitment and the

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Speaker 5: idea that an NFL legacy family would make their first

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Speaker 5: ever next investment a sports team, in a women's soccer team,

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Speaker 5: that really said a lot.

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Speaker 4: So walk us through how that opportunity comes does Obviously

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Speaker 4: you guys have great relationships in the investment bank community.

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Speaker 4: There's a banker just call you and say, hey, Carolyn,

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Speaker 4: there's an opportunity.

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Speaker 3: Walk us through that.

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Speaker 1: Yees.

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Speaker 5: So it actually came about there were a bunch of

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Speaker 5: other teams that had been raising money around the same time,

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Speaker 5: and so we actually looked at one of the other

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Speaker 5: teams first and then of yoursell Yeah, and we looked

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Speaker 5: at it and it was the first time we even

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Speaker 5: had We didn't even go when we started next three.

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Speaker 5: It wasn't clear to me that we were going to

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Speaker 5: invest in another team. That was not the idea. The

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Speaker 5: idea was again more kind of supporting companies around what

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Speaker 5: would make us better owners, you know, at the Giants,

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Speaker 5: and so we didn't even think about investing a team.

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Speaker 5: But this, this deal came across our desk and we

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Speaker 5: started looking at it, and then we started getting into

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Speaker 5: like we realized quickly, wow, there's a lot there's a

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Speaker 5: lot of exciting momentum and women's sports they're sort of

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Speaker 5: on the cusp of really you know, if a few

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Speaker 5: things could go differently, like this league could really be

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Speaker 5: onto something. So we started kind of going down the

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Speaker 5: path of looking at the league and we ended up

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Speaker 5: actually looking at a few different teams in the league.

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Speaker 5: Then we put our New York hat on and said,

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Speaker 5: wait a second, we are legacy New York owners. There's

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Speaker 5: a great story in our family that people often say,

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Speaker 5: when my grandfather ended up buying fifty percent of the Giants,

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Speaker 5: he actually had an opportunity to buy one hundred percent

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Speaker 5: of a few other teams in which would have been

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Speaker 5: a much less complicated deal. And he always said, you know,

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Speaker 5: I'm a poor kid from Brooklyn to be able to

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Speaker 5: buy fifty percent of the New York Giants. I would

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Speaker 5: take that any day over one hundred percent of you.

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Speaker 3: Know, any other team.

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Speaker 2: Wow.

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Speaker 3: Great vision.

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Speaker 5: So that was really in my head and so we

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Speaker 5: so we said, you know what if we could could

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Speaker 5: come in with to the New York team with Gotham.

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Speaker 5: And so I approached the governor's wife, Tammy Murphy, who

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Speaker 5: is the governor at the time.

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Speaker 2: I will never Phil Murphy, the New Jersey governor, and

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Speaker 2: Tammy Murphy has one Yes, Sorry.

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Speaker 5: I should have cleared that up.

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Speaker 3: Yeah.

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Speaker 5: So the Murphy started Gotham. They are the original founders

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Speaker 5: and so and there are partners. And so I went

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Speaker 5: out to New Jersey and told them why we should

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Speaker 5: be their partners. Wow, very intimidating.

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Speaker 3: Yeah, what did they say? And what was your pitch?

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Speaker 3: Good question.

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Speaker 5: So I talked about you know, our obviously our our

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Speaker 5: legacy as Giants co owners. But then I mostly actually

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Speaker 5: talked about Pelton and I talked about my experience there

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Speaker 5: and how I felt like this team was on the

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Speaker 5: precipice of being great, but it needed you know, stronger

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Speaker 5: marketing support and stronger you know, needed to be more

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Speaker 5: part of culture, and that was something that I could

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Speaker 5: uniquely bring. And Jammy's incredible. She gets more done in

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Speaker 5: a day than any human being.

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Speaker 3: I believe exactly.

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Speaker 5: Yeah, yeah, and she just you know, she like cuts

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Speaker 5: to the chase. This seems like it could work. Brought

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Speaker 5: me over to Phil. We talked to Phil and that

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Speaker 5: started the conversations.

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Speaker 2: What was the pitch back to your family? Like, what

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Speaker 2: was that process?

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Speaker 5: Justek I made sure my family was okay with them

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Speaker 5: before she sure went to the Murphys and asked for that.

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Speaker 5: So the pitch to them, I would say. The three

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Speaker 5: kind of markers that showed us that this could be

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Speaker 5: an interesting investment were The first was around this lack

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Speaker 5: of visibility historically women's soccer. Even if there has always

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Speaker 5: been a core women's soccer fan base, small but strong,

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Speaker 5: but you couldn't find it on TV. So you were

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Speaker 5: never even if you were a strong, really strong fan,

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Speaker 5: you were you could either show up to a game

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Speaker 5: in person if you lived in that market, or you know,

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Speaker 5: sometimes I think they were on Lifetime in the past,

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Speaker 5: not exactly like where you're finding your average casual sports fan.

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Speaker 5: So there was no opportunity for casual sports fans to

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Speaker 5: come in. So we knew that the nwslth through a research,

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Speaker 5: was about to sign a new media deal. We didn't

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Speaker 5: know what it was going to look like, but we knew, okay,

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Speaker 5: what that new media deal will probably open the door

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Speaker 5: to more casual fans. The second piece was around a

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Speaker 5: lack of investment in women's sports. As you know, ninety

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Speaker 5: nine percent of investments historically in sports have gone to

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Speaker 5: the men's game. At this point, because we had looked

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Speaker 5: at a few other teams, we knew that was starting

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Speaker 5: to change. Legacy owners and other leagues were starting to

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Speaker 5: come into this league. There were starting to be you know,

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Speaker 5: it was starting to be better capitalized. And then the

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Speaker 5: last piece, which was a bit more of a risk

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Speaker 5: at the time and now seems kind of laughable looking back,

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Speaker 5: was this kind of lack of being in culture. So

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Speaker 5: for a long time, women's sports were just not a

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Speaker 5: part of culture. It was not something people talked about.

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Speaker 5: And now again, you know, a year later, I feel

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Speaker 5: like all anyone talks about is Kaitlyn Clark and that

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Speaker 5: everyone watches women's sports shirt is like the hot shirt

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Speaker 5: to be wearing around New York now, So obviously that's changed.

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Speaker 5: But that was another one where we said, Okay, is

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Speaker 5: this something that could change in the future in a

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Speaker 5: world where we're in an athlete driven world and people

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Speaker 5: and their star power and there's all these great players

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Speaker 5: within the league. Could that translate into growth and teams?

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Speaker 5: And so those were the three vectors that we looked

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Speaker 5: at the deal at and I brought that to my

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Speaker 5: family and they were I have to say, they again

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Speaker 5: didn't wake up thinking like I wonder if we'll buy

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Speaker 5: a women's soccer team one day, but they were incredibly

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Speaker 5: supportive from day one.

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Speaker 3: So let's talk a little bit about the market of

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Speaker 3: New York. There's a gift in a curse.

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Speaker 4: I was fortunate enough in two thousand and nine to

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Speaker 4: be part of a world championship team with the Yankees.

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Speaker 4: And you've experienced over the last thirty years multiple titles,

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Speaker 4: and you've tasted the glory of being a champion. However,

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Speaker 4: there's ten or eleven other teams here. How do you

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Speaker 4: think about cutting through the noise of winning a title

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Speaker 4: and not being in the front pages like the Giant

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Speaker 4: or the Yankees.

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Speaker 5: Yeah, I think the way you said it is exactly right.

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Speaker 5: It's a gift in a curse. So in some ways

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Speaker 5: it's the number one media market, you know, the incredible

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Speaker 5: fandom here, but it's really crowded, as you said. So again,

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Speaker 5: two days into our ownership, we win the championship where

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Speaker 5: all I'm flying back with my family and I'm like,

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Speaker 5: it's so excited to read about it in the newspaper,

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Speaker 5: like everyone in the world must be talking about the

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Speaker 5: fact that Gotham just won. And we open the sports

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Speaker 5: pages and we're like, okay, it's not on the cover. Understandable, Fine,

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Speaker 5: you know, women's source is still growing, and we're like, okay,

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Speaker 5: it's not on page two. Okay, it's not a page three,

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Speaker 5: And we keep going and going, going, and there's literally

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Speaker 5: not covered. And then we open our news feeds, like

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Speaker 5: on our phones, is it on social media?

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Speaker 3: No?

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Speaker 5: And it's just no one was talking about it. And

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Speaker 5: I think that, really, I think crystallized that moment of Okay,

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Speaker 5: we're not in culture right now, and that is on

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Speaker 5: us to go build. So, first of all, I should

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Speaker 5: say that since then, the two winning sports teams in

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Speaker 5: New York are the women's sports teams, right sure, and

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Speaker 5: they obviously you know very much are part of culture

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Speaker 5: here now. But that has been part of the work

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Speaker 5: we've done in the last year is building those relationships

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Speaker 5: with the local newspapers, with people that kind of build

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Speaker 5: New York culture. We had our players drop the ball

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Speaker 5: at Times Square, we had a big media event. I

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Speaker 5: can't remember you hear that. I was at the Rainbow

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Speaker 5: Room when we introduced our free agents. So we have

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Speaker 5: been kind of brick by brick building our story in

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Speaker 5: New York because as hard as it is to break

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Speaker 5: into the New York sports scene, once you're in, there's

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Speaker 5: nowhere better to win a championship than New York.

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Speaker 2: And let's talk about that because you know you mentioned

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Speaker 2: the Liberty, which you know when the twenty four finals,

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Speaker 2: Sorry too soon, No, I mean, thank you Jack. Amazing

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Speaker 2: series at the distance and you know, but one of

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Speaker 2: the things that I think was very notable, and Alex

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Speaker 2: and I have talked a lot about this is how

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Speaker 2: well curated the court side seats are. You know, I

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Speaker 2: went to your first ever playoff game. You go through

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Speaker 2: that suite, there are there's Eli Manning, there's Justin Tuck,

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Speaker 2: there's Rich Climan, there's Megan Rappino, Sue Bert, you know

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Speaker 2: all of these luminaries it is in the culture.

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Speaker 3: It feels like it's suddenly in the culture. So what happened?

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Speaker 2: I mean, Caitlin Clark not with standing for the WNBA,

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Speaker 2: there's something bigger going on.

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Speaker 3: How do you respond to that? But also how do

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Speaker 3: you help create it?

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Speaker 5: I'm so glad you brought that up, because that was

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Speaker 5: very deliberate. We really studied. I think in the past

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Speaker 5: year when I've thought about, you know, who do we

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Speaker 5: bring in to help run this team On the business side,

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Speaker 5: it's been a real mix of in and out of sports.

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Speaker 5: And part of why we did that is because we

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Speaker 5: didn't want to just say, like, what is the typical

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Speaker 5: NWSL playbook and let's go run it back. We wanted

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Speaker 5: to look across all of sports outside of sports, like

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Speaker 5: who does it well in culture more broadly, and so

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Speaker 5: the person who now runs marketing for us, she looked

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Speaker 5: very closely at what does court side at the Knicks

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Speaker 5: look like? What does it mean when you go to

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Speaker 5: a Yankees or a Yankees World Series game? Who's there,

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Speaker 5: what types of people are there, what is the fan

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Speaker 5: experience like? And so that that was It's been a

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Speaker 5: very deliberate build. So part of it is just having

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Speaker 5: the vision to do it. The other part is the execution.

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Speaker 5: And the reason I think we've been able to execute

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Speaker 5: it well is because it all starts with having the

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Speaker 5: best product on the field and kind of putting my

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Speaker 5: marketing head on. You can't market a bad product like

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Speaker 5: you have to have the right product first. And we

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Speaker 5: knew we had that. We have some of the best

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Speaker 5: players in the world. We had all these Olympians that

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Speaker 5: are you know, on our team at Awtham, so we

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Speaker 5: know we have a great product. Now the job was

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Speaker 5: to go build a great fan experience around that product.

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Speaker 5: So it wasn't just ninety minutes of soccer. It was

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Speaker 5: you know, the hour before at FanFest, it was who

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Speaker 5: was in the suite, as you said, and so that

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Speaker 5: was kind of the second part was like building that

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Speaker 5: great experience so that when people come, whether it's your

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Speaker 5: average fan who plays local soccer or it's Eli Manning

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Speaker 5: or Superbird, that you want to be there and you

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Speaker 5: want to tell all your friends about it and you

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Speaker 5: want to come back.

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Speaker 2: Let's talk a bit about the Giants if we can.

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Speaker 2: It's probably worth about seven billion dollars. You know, if

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Speaker 2: you look at the estimates Gotham maybe less than one

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Speaker 2: hundred million dollars. They would seem incompatible from a scale perspective.

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Speaker 2: Clearly their learnings back and forth. You're spending time at both.

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Speaker 2: What are the most obvious connections that you take back

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Speaker 2: and forth and what are some that you know maybe

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Speaker 2: we wouldn't think of.

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Speaker 5: Yeah, when you put it like that, they do something

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Speaker 5: pretty far apart. They don't feel like it in the

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Speaker 5: day to day.

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Speaker 3: So don't that's interesting? So it feels similar?

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Speaker 5: Well, I would say the challenges feel different, but maybe

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Speaker 5: like my personal passion for both feel similar. Maybe we'll

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Speaker 5: say that. So I would say that probably the most

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Speaker 5: clear synergies are just the learning sharing going on between

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Speaker 5: the two. So as we're building up the business staff

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Speaker 5: at Gotham for them to be able to call people

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Speaker 5: at the Giants and say like, hey, how do you

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Speaker 5: think about, you know, selling sponsorships, how we're thinking about

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Speaker 5: putting in like a new CRM system, How did you

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Speaker 5: guys think about that? Even on the soccer side, we

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Speaker 5: are GM and I spoke to Aaron Wellman, who's the

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Speaker 5: head of performance at the Giants, just about like, how

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Speaker 5: do you put a medical staff together. So the idea

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Speaker 5: that you can at any point when you have a question,

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Speaker 5: you can pick up the phone and have a resource

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Speaker 5: there to call is really fantastic and.

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Speaker 3: They know that, they just know that that's available to them.

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Speaker 2: You just you created that so that you say, do

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Speaker 2: you need something at the Giants, just I'll connect to you.

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Speaker 3: Like, how does that work in practice?

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Speaker 5: Yes, yeah, that's a good question. Yes, So I created

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Speaker 5: that from the beginning, and part of it I think

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Speaker 5: was built allowing the Gotham team to build the respect

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Speaker 5: with the Giants organization so that they didn't feel like, oh,

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Speaker 5: who is this person calling me? It's like they have

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Speaker 5: they feel vested in it. And it's actually been amazing

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Speaker 5: to see how many Giants employees have become Gotham fans.

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Speaker 5: And every time about the Giants' offices for work, often

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Speaker 5: people came running over to me and I think they're

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Speaker 5: there to talk to me about something about the Giants,

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Speaker 5: and they really just want to talk about Gotham. So

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Speaker 5: that's really hap.

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Speaker 3: They're probably talking to you about them fair fair.

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Speaker 5: Too soon, I think, but yes, you're probably right. Yes,

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Speaker 5: So there is this sort of you know, great syndergies.

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Speaker 5: I would say, kind of behind the scenes on the

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Speaker 5: business side, the things that I think that I hadn't

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Speaker 5: really because to your point, you know, the valuations are

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Speaker 5: very different. The tenure the Giants are celebrating their hundredth anniversary.

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Speaker 5: Gotham is, you know, a couple of years in. Is

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Speaker 5: the way that we think about fandom is so different.

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Speaker 5: Yet I think there's really great learnings across them. So,

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Speaker 5: for example, in the NFL, fandom is often generational. You know,

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Speaker 5: you're a Giants fan because your father was a Giants

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Speaker 5: fan and your grandfather was a Giants fan, and maybe

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Speaker 5: there was a female fan in there, but it was

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Speaker 5: probably your father and your grandfather. So it's very you know,

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Speaker 5: it's passed down. It's very geographic. It's like you're a

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Speaker 5: Giants fan because that's who you could watch on TV

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Speaker 5: because you lived in New York or you still live

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Speaker 5: in New York. At Gotham, we're really building fandom from

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Speaker 5: the ground up. Soccer is the number one sport played

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Speaker 5: amongst youth in this country. So often parents are learning

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Speaker 5: about soccer through their kids, and their kids play soccer

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Speaker 5: and then they don't. Actually, that doesn't just because you

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Speaker 5: play in your local soccer team doesn't necessarily translate to

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Speaker 5: oh and then I go watch my favorite soccer team

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Speaker 5: on TV or I go to a game. And so

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Speaker 5: that's what we're trying to do at Gotham is build

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Speaker 5: that kind of ground up fandom. However, there's actually a

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Speaker 5: lot to be you know, both teams could benefit from

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Speaker 5: the other and so there are families where Soccer's is generational,

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Speaker 5: So how do we bring that fandom to Gotham and

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Speaker 5: then at the Giants figuring out how do you get

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Speaker 5: you know, a next generation of fans that may not

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Speaker 5: have that in their blood. It might not be passed down,

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Speaker 5: but needs to be built from the ground up. There's

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Speaker 5: a lot of great lessons in there.

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Speaker 4: Talk about fandom. Staying on that subject, over the last

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Speaker 4: thirty years, your family have caned the Giants and we

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Speaker 4: understand very clearly how fans consume content. How do you

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Speaker 4: think about it with your Peloton background, the next five

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Speaker 4: to ten, even thirty years, how does that look and

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Speaker 4: how different is it than the past thirty?

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Speaker 5: Yeah, I think this is actually one of the things

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Speaker 5: we were really excited about in our Gotham investment was

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Speaker 5: the way that people are consuming sports is so different now.

400
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Speaker 5: The avidity is still there, but it might not be

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Speaker 5: that you sit and watch a whole four hour game.

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Speaker 5: You're probably connecting through social media. You're probably connecting through athletes.

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Speaker 5: There is this sort of athlete driven I don't need

404
00:19:29,640 --> 00:19:31,639
Speaker 5: to tell you this, there's this you know, athlete driven

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Speaker 5: culture now. And so that if you think about that

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Speaker 5: from a giant's perspective, that is leaning into digital, that

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00:19:37,760 --> 00:19:41,320
Speaker 5: is leaning into social, that really sets us up well

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Speaker 5: at Gotham. There's when I was at Peloton, that was

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Speaker 5: one of the early insights we realized as people would

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Speaker 5: walk around saying like, I love Pelton, I love Peloton,

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Speaker 5: and then when you ask them a follow up question,

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Speaker 5: it always gets to I love Ali love or I

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Speaker 5: love Robin. I can't end my day without Cody. And

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Speaker 5: so we saw an opportunity to build the Peloton brand,

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Speaker 5: but to build it via our stars, via our instructors.

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Speaker 5: And that's very much something we're thinking about at Gotham

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Speaker 5: is we want to continue to build love for the

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Speaker 5: Gossam brand. One of the ways we can do that

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Speaker 5: is to help tell the stories of our incredible players

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Speaker 5: both on and off the field, and use and take

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Speaker 5: the love for Rose Level and bring that to Gotham

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Speaker 5: as well.

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Speaker 2: And so let's talk about Peloton, because it's clearly formative

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Speaker 2: for you. And I would love to go back sort

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Speaker 2: of to the beginning, because you know, you go to Yale,

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Speaker 2: then you go to Harvard Business School, you come out,

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Speaker 2: you work for PepsiCo, you don't go into the family business,

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Speaker 2: and then you go to what's then a relatively unknown

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Speaker 2: startup called Peloton. Tell us about that decision and what

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Speaker 2: did you experience when.

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Speaker 3: You got there.

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Speaker 5: So I might just take us back from one moment

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Speaker 5: because I actually thought that I wanted I was going

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Speaker 5: to go work at the Giants. I did some I

435
00:20:58,359 --> 00:21:00,520
Speaker 5: just had a baby, and I left PEPs and I

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Speaker 5: started doing a little consulting work for the Giants, and

437
00:21:03,560 --> 00:21:05,520
Speaker 5: it didn't It was what I always thought I wanted

438
00:21:05,520 --> 00:21:08,000
Speaker 5: to do, and it, for variety of reasons, just didn't

439
00:21:08,000 --> 00:21:10,720
Speaker 5: feel right at that moment. They were very focused on

440
00:21:10,720 --> 00:21:12,200
Speaker 5: what was happening on the football side, and I was

441
00:21:12,280 --> 00:21:14,320
Speaker 5: kind of bringing these like new innovative ideas and it

442
00:21:14,359 --> 00:21:17,120
Speaker 5: just it didn't feel right. And the reason I bring

443
00:21:17,160 --> 00:21:19,560
Speaker 5: that up is because I probably would have never landed

444
00:21:19,560 --> 00:21:23,640
Speaker 5: at Peloton had that experience not happened because I had

445
00:21:23,720 --> 00:21:26,560
Speaker 5: really built my entire career wanting to go work at

446
00:21:26,560 --> 00:21:28,840
Speaker 5: the team, and then I got there and it didn't

447
00:21:28,840 --> 00:21:31,000
Speaker 5: really work right. So then I was very open to

448
00:21:31,280 --> 00:21:33,679
Speaker 5: sort of like, all right, I'll try anything because I

449
00:21:33,680 --> 00:21:36,320
Speaker 5: don't really know what my path looks like now. And

450
00:21:36,400 --> 00:21:39,680
Speaker 5: so I go to Peloton. And I had always been

451
00:21:39,720 --> 00:21:42,440
Speaker 5: sort of personally passionate about fitness, but didn't really see

452
00:21:42,440 --> 00:21:45,080
Speaker 5: that as a career necessarily. And I had so many

453
00:21:45,080 --> 00:21:47,719
Speaker 5: friends from business school in particular at the time being like,

454
00:21:48,359 --> 00:21:51,280
Speaker 5: what are you doing? Why are you doing that? Like

455
00:21:51,480 --> 00:21:53,240
Speaker 5: or have you gotten crazy? Is this like an early

456
00:21:53,280 --> 00:21:57,280
Speaker 5: mid life crisis? And the early days I just I'd

457
00:21:57,320 --> 00:21:59,680
Speaker 5: never worked at a startup, and so the early days,

458
00:21:59,680 --> 00:22:01,840
Speaker 5: you know, I came in under a brand marketing title,

459
00:22:02,359 --> 00:22:05,640
Speaker 5: under a CMO who then left pretty quickly after I started.

460
00:22:05,680 --> 00:22:09,600
Speaker 5: So then was given a much larger set of responsibilities

461
00:22:09,920 --> 00:22:12,040
Speaker 5: and it was just to roll up your sleeves and

462
00:22:12,480 --> 00:22:13,640
Speaker 5: figure it out as you go.

463
00:22:14,119 --> 00:22:17,840
Speaker 4: And the founder and CEO, John Foley, what was it

464
00:22:18,000 --> 00:22:21,280
Speaker 4: in that first meeting? What did he say that you said, Okay,

465
00:22:21,320 --> 00:22:22,560
Speaker 4: I gotta come work here.

466
00:22:23,720 --> 00:22:27,280
Speaker 5: So John, in the first meeting, he said, We're going

467
00:22:27,359 --> 00:22:29,760
Speaker 5: to go build one of the best brands in the world.

468
00:22:31,200 --> 00:22:33,800
Speaker 5: And I'm sitting there in this we work on twenty

469
00:22:33,880 --> 00:22:36,480
Speaker 5: ninth in Madison, when no one had ever heard of them,

470
00:22:36,800 --> 00:22:38,199
Speaker 5: and at the time it was you know, this was

471
00:22:38,200 --> 00:22:41,439
Speaker 5: like the Soul cycle, Flywheel, heyday. So Pelton was this

472
00:22:41,560 --> 00:22:44,840
Speaker 5: like distant third And I left and I called my

473
00:22:44,920 --> 00:22:48,320
Speaker 5: husband and I was like, Okay, he might be crazy,

474
00:22:49,480 --> 00:22:50,800
Speaker 5: but he also might be right.

475
00:22:51,680 --> 00:22:53,560
Speaker 3: And I think it's a yes, and it's a.

476
00:22:53,600 --> 00:22:56,600
Speaker 5: Yes, Yes, that's probably right. That's probably true.

477
00:22:57,200 --> 00:22:59,359
Speaker 3: And I love Dolly and I would say yes, day, Yes,

478
00:23:00,200 --> 00:23:00,520
Speaker 3: that's a.

479
00:23:00,520 --> 00:23:02,639
Speaker 5: Lot of every founders a lot crazy. Yeah, feel might

480
00:23:02,640 --> 00:23:05,080
Speaker 5: say that about me too. So anyway, it just the

481
00:23:05,640 --> 00:23:09,119
Speaker 5: opportunity to have that vision of we're literally in a

482
00:23:09,160 --> 00:23:13,120
Speaker 5: startup where thousands of investors have told you, no, we're

483
00:23:13,160 --> 00:23:15,879
Speaker 5: selling you know, at that point, we'd sold maybe one

484
00:23:15,960 --> 00:23:18,720
Speaker 5: hundred bikes. I mean, this was nothing. And he's sitting

485
00:23:18,760 --> 00:23:20,520
Speaker 5: there saying we're going to We're not just like we're

486
00:23:20,520 --> 00:23:23,000
Speaker 5: going to be a successful company, but we're going to

487
00:23:23,040 --> 00:23:25,400
Speaker 5: be one of the most I think he actually didn't

488
00:23:25,440 --> 00:23:27,400
Speaker 5: just say best, he said one of the most important

489
00:23:27,520 --> 00:23:31,280
Speaker 5: brands in the world, and I thought, wow, I don't

490
00:23:31,320 --> 00:23:32,880
Speaker 5: know how we're going to do that, but I love

491
00:23:32,960 --> 00:23:33,800
Speaker 5: to be a part of it.

492
00:23:34,359 --> 00:23:36,000
Speaker 4: So Jase, I do have a quick follow up on that,

493
00:23:36,040 --> 00:23:39,320
Speaker 4: because I remember in the Covid days the stock market

494
00:23:39,400 --> 00:23:41,199
Speaker 4: cap went up to like thirty five billion or so

495
00:23:41,280 --> 00:23:44,920
Speaker 4: plus or minus. Looking back in retrospect, for our viewers,

496
00:23:45,000 --> 00:23:47,600
Speaker 4: what is the lesson What could John and your team

497
00:23:47,600 --> 00:23:50,960
Speaker 4: have done to keep it at that level or keep

498
00:23:51,000 --> 00:23:53,160
Speaker 4: it like a really strong business.

499
00:23:53,920 --> 00:23:57,640
Speaker 5: So I left in twenty twenty, so I just mindful

500
00:23:57,800 --> 00:24:00,400
Speaker 5: I was not there in those moments. I was there

501
00:24:00,560 --> 00:24:03,920
Speaker 5: in the peak and then not in the bull. I

502
00:24:04,000 --> 00:24:07,040
Speaker 5: think one of the challenges I think for a peloton

503
00:24:07,720 --> 00:24:11,600
Speaker 5: is there was there were always a lot of questions

504
00:24:11,640 --> 00:24:13,800
Speaker 5: around what our TAM was, So what was our total

505
00:24:14,200 --> 00:24:18,840
Speaker 5: addressable market? How big could this thing get? What Covid

506
00:24:18,960 --> 00:24:24,199
Speaker 5: did was accelerate the growth so fast that I think

507
00:24:24,320 --> 00:24:28,080
Speaker 5: it questioned what that TAM was. And so there were

508
00:24:28,160 --> 00:24:31,640
Speaker 5: people buying bikes that would have never thought about buying

509
00:24:31,680 --> 00:24:33,359
Speaker 5: a bike before, but it was Covid. You couldn't leave,

510
00:24:33,359 --> 00:24:35,800
Speaker 5: you couldn't go to the gym, and so I think

511
00:24:36,200 --> 00:24:39,840
Speaker 5: one of the lessons was, you know, being really thoughtful

512
00:24:40,280 --> 00:24:44,080
Speaker 5: around what the sustainable tam was. Like we always knew

513
00:24:44,080 --> 00:24:46,520
Speaker 5: at some points the pandemic would end, So like what

514
00:24:46,680 --> 00:24:50,640
Speaker 5: is the addressable market outside of a pandemic and really

515
00:24:50,880 --> 00:24:54,919
Speaker 5: anchor the business in That would be my lesson.

516
00:24:55,800 --> 00:24:57,600
Speaker 2: And so as you look back on the you know,

517
00:24:57,640 --> 00:25:01,240
Speaker 2: you talked about sort of the star instructors, but there's

518
00:25:01,280 --> 00:25:06,399
Speaker 2: also this this moment of fast growth and you know,

519
00:25:06,480 --> 00:25:09,439
Speaker 2: seizing the moment as it were, which does lead to

520
00:25:09,480 --> 00:25:14,439
Speaker 2: this question of sustainability for the growth of women's sports

521
00:25:14,480 --> 00:25:18,800
Speaker 2: and women's soccer. How do you think about that? What

522
00:25:18,960 --> 00:25:21,080
Speaker 2: worries you? Like, what are the things that could get

523
00:25:21,080 --> 00:25:21,520
Speaker 2: in the way.

524
00:25:22,800 --> 00:25:25,639
Speaker 5: Yeah, we talk a lot at ARCHAEMC Gotham now about

525
00:25:25,680 --> 00:25:28,240
Speaker 5: sustainable growth and what does that look like? I think

526
00:25:28,520 --> 00:25:30,359
Speaker 5: I go back to something I said earlier about like

527
00:25:30,359 --> 00:25:33,080
Speaker 5: making sure you're the best product first, because the only

528
00:25:33,640 --> 00:25:37,680
Speaker 5: way that a marketing funnel that is built on word

529
00:25:37,720 --> 00:25:43,200
Speaker 5: of mouth works is when there's no leak in the bucket, right,

530
00:25:43,240 --> 00:25:45,359
Speaker 5: So like if you think of a marketing funnel of like, oh,

531
00:25:45,400 --> 00:25:48,200
Speaker 5: where you know, I find out about it, I consider it,

532
00:25:48,600 --> 00:25:51,600
Speaker 5: I try it, and then ideally, which I think is

533
00:25:51,600 --> 00:25:53,439
Speaker 5: what's happening with us at Gotham and happened with us

534
00:25:53,440 --> 00:25:55,080
Speaker 5: A Peltin is like, oh, and then I love it

535
00:25:55,160 --> 00:25:56,520
Speaker 5: so much, I'm going to come back and I'm going

536
00:25:56,560 --> 00:25:59,439
Speaker 5: to tell all my friends if people are churning at

537
00:25:59,440 --> 00:26:01,679
Speaker 5: the bottom. If people come to a game, they buy

538
00:26:01,720 --> 00:26:03,520
Speaker 5: a Pelton bike and they don't like it, they stop

539
00:26:03,600 --> 00:26:06,720
Speaker 5: using it so they stop paying. Or if people come

540
00:26:06,760 --> 00:26:08,719
Speaker 5: to a Gotham game and don't have a good experience

541
00:26:08,720 --> 00:26:12,000
Speaker 5: and don't come back, that whole model breaks down. And

542
00:26:12,040 --> 00:26:15,080
Speaker 5: so when I think about sustainability, I think about ensuring

543
00:26:15,160 --> 00:26:18,320
Speaker 5: that that product is great first. And I don't just

544
00:26:18,440 --> 00:26:20,720
Speaker 5: mean we're winning games, although obviously that helps. I mean

545
00:26:20,960 --> 00:26:23,720
Speaker 5: the fan experience, the way we show up, you know,

546
00:26:23,760 --> 00:26:26,720
Speaker 5: how people interact with our players on social media, and like,

547
00:26:26,840 --> 00:26:28,800
Speaker 5: it's kind of the whole product. I would call it.

548
00:26:29,720 --> 00:26:32,919
Speaker 5: That has to be right first for the rest of

549
00:26:32,960 --> 00:26:33,640
Speaker 5: it to follow.

550
00:26:34,400 --> 00:26:36,320
Speaker 3: And I wonder if you think about this too, Alex,

551
00:26:36,560 --> 00:26:37,440
Speaker 3: this notion of.

552
00:26:39,240 --> 00:26:42,400
Speaker 2: You know, you control your team, and you know when

553
00:26:42,600 --> 00:26:46,359
Speaker 2: you have ultimate decision making authority when it comes to

554
00:26:46,400 --> 00:26:49,080
Speaker 2: that you and your team, and yet you're also part

555
00:26:49,119 --> 00:26:53,240
Speaker 2: of a collective group of people who are making decisions

556
00:26:53,720 --> 00:26:56,560
Speaker 2: on behalf of the league, and you know you've been

557
00:26:56,600 --> 00:26:59,840
Speaker 2: a part of this, Alex and obviously you're experiencing this

558
00:27:00,560 --> 00:27:04,919
Speaker 2: now with the NWSL. What is that like to try

559
00:27:04,960 --> 00:27:08,639
Speaker 2: and get everybody and to be an influential voice in

560
00:27:09,240 --> 00:27:10,960
Speaker 2: a room of governors, which you are.

561
00:27:12,000 --> 00:27:14,640
Speaker 5: So that's been something that's been so interesting about this league.

562
00:27:14,640 --> 00:27:16,120
Speaker 5: And I had heard it coming in and I very

563
00:27:16,160 --> 00:27:18,240
Speaker 5: much seen it and feel it for myself too. Is

564
00:27:18,720 --> 00:27:24,160
Speaker 5: there's the owners around the tables. Many own other teams

565
00:27:24,240 --> 00:27:27,200
Speaker 5: in other leagues as well, and or have other big businesses.

566
00:27:28,000 --> 00:27:32,400
Speaker 5: Many spend a disproportionate amount of their time on their

567
00:27:32,520 --> 00:27:36,320
Speaker 5: NWSL team than they do on other things. Interesting kind

568
00:27:36,320 --> 00:27:38,160
Speaker 5: of to your point on like the seven billion versus

569
00:27:38,240 --> 00:27:40,879
Speaker 5: one hundred million of like, yes, in theory that would

570
00:27:41,280 --> 00:27:43,359
Speaker 5: mean you shouldn't spend time on one hundred million, and

571
00:27:43,359 --> 00:27:45,240
Speaker 5: I'd probably spend more time on that than anything else.

572
00:27:45,440 --> 00:27:47,520
Speaker 5: So there's this feeling of you know, people are spending

573
00:27:47,520 --> 00:27:50,080
Speaker 5: a disproportion amount of time on it. The question is why,

574
00:27:50,840 --> 00:27:55,359
Speaker 5: I think there's a general feeling of we all see

575
00:27:55,400 --> 00:27:57,600
Speaker 5: what this can be. We're all here for a reason,

576
00:27:57,640 --> 00:28:00,880
Speaker 5: we all believe in what this league can look like. However,

577
00:28:01,440 --> 00:28:03,560
Speaker 5: that is not going to happen by any of us

578
00:28:03,640 --> 00:28:06,919
Speaker 5: leaning back. We all need to Everybody needs to do

579
00:28:06,960 --> 00:28:09,240
Speaker 5: their part, and whether that's you know, put on the

580
00:28:09,400 --> 00:28:11,600
Speaker 5: being on the commercial committee and pushing on that, whether

581
00:28:11,640 --> 00:28:13,520
Speaker 5: it's on the sporting committee and thinking about how do

582
00:28:13,560 --> 00:28:16,080
Speaker 5: you keep having a competitive product on the field. Whatever,

583
00:28:16,119 --> 00:28:18,280
Speaker 5: those decisions are that you're kind of leading as a

584
00:28:18,320 --> 00:28:21,239
Speaker 5: governor for the league are so critical because we are

585
00:28:21,320 --> 00:28:24,840
Speaker 5: quite literally creating the future of the league with the

586
00:28:24,880 --> 00:28:27,520
Speaker 5: decisions we're making now, are dictating what the future of

587
00:28:27,520 --> 00:28:29,440
Speaker 5: the league is going to look like. So I think

588
00:28:29,600 --> 00:28:33,560
Speaker 5: all of us feel this responsibility to really lean in

589
00:28:34,040 --> 00:28:36,840
Speaker 5: and engage in the league and think about and make

590
00:28:36,920 --> 00:28:39,440
Speaker 5: decisions that are not just right for our teams, but

591
00:28:39,600 --> 00:28:42,520
Speaker 5: right for the better the you know, the entire group.

592
00:28:43,240 --> 00:28:47,640
Speaker 4: What's been something as now a governor, a recent governor

593
00:28:48,080 --> 00:28:51,480
Speaker 4: that has surprised you on the good side and some

594
00:28:51,640 --> 00:28:53,680
Speaker 4: things that are a little bit more challenging than you

595
00:28:53,760 --> 00:28:54,480
Speaker 4: even expected.

596
00:28:56,000 --> 00:28:59,120
Speaker 5: I think one thing that has really surprised me is

597
00:28:59,160 --> 00:29:03,480
Speaker 5: this collaboration across owners. I think ironically now I'm kind

598
00:29:03,480 --> 00:29:05,560
Speaker 5: of one of like the more tenured owners, even though

599
00:29:05,560 --> 00:29:07,400
Speaker 5: I have been there for a year because there's been

600
00:29:07,400 --> 00:29:10,240
Speaker 5: so much ownership. But there's been this feeling, I think

601
00:29:10,240 --> 00:29:14,240
Speaker 5: from day one, of we will all win when the

602
00:29:14,320 --> 00:29:17,520
Speaker 5: other teams win too. And so when Willow Bay just

603
00:29:17,600 --> 00:29:19,960
Speaker 5: came in an Angel City a few wants to go,

604
00:29:20,200 --> 00:29:22,360
Speaker 5: you know, I immediately reached out to her and said, like,

605
00:29:22,680 --> 00:29:25,160
Speaker 5: here's my phone number, call me anytime I want to

606
00:29:25,200 --> 00:29:28,479
Speaker 5: help you. I want Angel City to succeed because Gotham

607
00:29:28,520 --> 00:29:30,680
Speaker 5: will succeed when Angel Cities, just using them as an example,

608
00:29:30,760 --> 00:29:33,120
Speaker 5: will succeed. And I had other owners do the same

609
00:29:33,160 --> 00:29:35,920
Speaker 5: for me, and so there is this, you know, collective

610
00:29:35,960 --> 00:29:39,640
Speaker 5: feeling we have. All the CBOs spend a lot of

611
00:29:39,680 --> 00:29:42,880
Speaker 5: time together, the chief business officers, and they'll even on

612
00:29:42,920 --> 00:29:45,520
Speaker 5: things like sponsorship, which in theory you're kind of competing

613
00:29:45,560 --> 00:29:48,240
Speaker 5: with each other. They'll discuss the deal with each other

614
00:29:48,920 --> 00:29:53,000
Speaker 5: because we know that if Bay is out there, not

615
00:29:53,040 --> 00:29:54,680
Speaker 5: that they would be doing this, but like selling at

616
00:29:54,720 --> 00:29:57,040
Speaker 5: a lower price than we're selling it that hurts each other.

617
00:29:57,120 --> 00:29:59,680
Speaker 5: And so we all are in this together, and so

618
00:29:59,720 --> 00:30:03,120
Speaker 5: there's been this real kind of we're all better when,

619
00:30:03,280 --> 00:30:05,280
Speaker 5: you know, when we're all helping each other feeling that

620
00:30:05,360 --> 00:30:07,760
Speaker 5: I surprised me. I thought of it as a more like, oh,

621
00:30:07,840 --> 00:30:11,400
Speaker 5: we're competitors on the field, so we're competitors always, and

622
00:30:11,480 --> 00:30:28,640
Speaker 5: it is very much not felt that way.

623
00:30:26,720 --> 00:30:28,280
Speaker 2: You know, sort of going back to this sort of

624
00:30:28,280 --> 00:30:31,800
Speaker 2: synergies for a second between Gotham and the Giants. I mean,

625
00:30:31,840 --> 00:30:35,120
Speaker 2: I wonder, as you're going through some of these decisions

626
00:30:35,240 --> 00:30:38,840
Speaker 2: or decision making processes at Gotham, are you calling your

627
00:30:38,920 --> 00:30:42,120
Speaker 2: uncle and being like, hey, I'm running into this. Have

628
00:30:42,200 --> 00:30:45,680
Speaker 2: you run into this over the past thirty years? Like

629
00:30:45,720 --> 00:30:49,560
Speaker 2: what are some inflection points that you think might be similar?

630
00:30:49,600 --> 00:30:52,959
Speaker 2: Because NFL thirty years ago it was big, but it

631
00:30:53,040 --> 00:30:55,400
Speaker 2: wasn't anything like it is now.

632
00:30:55,480 --> 00:30:59,120
Speaker 5: Right right, Yeah, I think there's been this very open

633
00:30:59,360 --> 00:31:01,280
Speaker 5: you know, across there's also a fair amount of NFL

634
00:31:01,280 --> 00:31:04,080
Speaker 5: owners within the league as well. Mark Wilf and I

635
00:31:04,120 --> 00:31:05,880
Speaker 5: both sit on the executive committee at the end of

636
00:31:05,960 --> 00:31:08,960
Speaker 5: us OLT together. And what's actually interesting is that then

637
00:31:09,000 --> 00:31:12,360
Speaker 5: there's also owners from NBA teams, so David Blitzer is

638
00:31:12,360 --> 00:31:15,400
Speaker 5: also on the executive committees. There's MLB owners with the Ricketts.

639
00:31:15,440 --> 00:31:18,960
Speaker 5: So there's been this great ability, I think for everyone

640
00:31:19,040 --> 00:31:23,160
Speaker 5: to come with their individual their like other league perspective,

641
00:31:23,520 --> 00:31:26,720
Speaker 5: but also with a feeling of we don't have to follow, like,

642
00:31:26,840 --> 00:31:28,960
Speaker 5: let's go take the best of what everyone else does

643
00:31:29,080 --> 00:31:31,840
Speaker 5: and also chart our own path. And so there's this

644
00:31:32,320 --> 00:31:36,680
Speaker 5: really you know, interesting shared learning happening where for any

645
00:31:36,720 --> 00:31:39,360
Speaker 5: given question, it's okay, well Mark's going to tell you

646
00:31:39,400 --> 00:31:41,000
Speaker 5: how it's done at the NFL, and David's going to

647
00:31:41,000 --> 00:31:42,720
Speaker 5: tell you how it's done the NBA, and but let's

648
00:31:42,760 --> 00:31:44,480
Speaker 5: actually pause and think do we want to do it

649
00:31:44,520 --> 00:31:45,800
Speaker 5: any of those ways or do we want to do

650
00:31:45,840 --> 00:31:49,959
Speaker 5: it differently? And that's been a really productive conversation.

651
00:31:50,720 --> 00:31:53,760
Speaker 3: And so your work with the Giants is interesting too.

652
00:31:55,120 --> 00:31:59,760
Speaker 2: You know, the day that that got them hosted its

653
00:31:59,760 --> 00:32:05,080
Speaker 2: first ever home playoff game, you were meant to be

654
00:32:05,120 --> 00:32:09,040
Speaker 2: in Germany with the Giants because they were playing I

655
00:32:09,080 --> 00:32:11,040
Speaker 2: believe their first international game.

656
00:32:11,320 --> 00:32:11,720
Speaker 3: Is that right?

657
00:32:11,800 --> 00:32:13,720
Speaker 5: They played in London in Germany.

658
00:32:13,360 --> 00:32:14,440
Speaker 3: First in Germany. Excuse me.

659
00:32:15,800 --> 00:32:18,520
Speaker 2: You have been a huge proponent of that inside the

660
00:32:18,560 --> 00:32:19,560
Speaker 2: Giants organization.

661
00:32:20,000 --> 00:32:20,560
Speaker 3: Talk to us.

662
00:32:20,520 --> 00:32:24,840
Speaker 2: About that, especially as it feels like it illustrates part

663
00:32:24,880 --> 00:32:25,760
Speaker 2: of what your role.

664
00:32:25,680 --> 00:32:26,640
Speaker 3: Is within the Giants.

665
00:32:27,440 --> 00:32:29,480
Speaker 5: Yeah, that day gave new meaning to trying to be

666
00:32:29,560 --> 00:32:31,840
Speaker 5: in two places at once. It did not work, but

667
00:32:31,880 --> 00:32:33,360
Speaker 5: I had been in Germany and then I left to

668
00:32:33,360 --> 00:32:36,440
Speaker 5: come home for the Golfen game. So yeah, one of

669
00:32:36,480 --> 00:32:39,000
Speaker 5: the things that I've tried to bring to the Giants

670
00:32:39,080 --> 00:32:41,240
Speaker 5: is again this sort of like how do you build

671
00:32:41,240 --> 00:32:45,520
Speaker 5: a modern brand perspective that I gained a Peloton and

672
00:32:45,560 --> 00:32:47,960
Speaker 5: so international is a big piece of that. Fandom in

673
00:32:48,000 --> 00:32:50,720
Speaker 5: the NFL again has been generational, as I said, but

674
00:32:50,800 --> 00:32:54,040
Speaker 5: it's also been very geographically defined. You were a Giants

675
00:32:54,080 --> 00:32:56,120
Speaker 5: fan because you live in New York and there's really

676
00:32:56,120 --> 00:32:59,120
Speaker 5: only the just you know, to compete with now as

677
00:32:59,120 --> 00:33:01,000
Speaker 5: you think about you and be a fan from anywhere.

678
00:33:01,000 --> 00:33:03,160
Speaker 5: If you're a fan because you're a fan of a player,

679
00:33:03,200 --> 00:33:05,920
Speaker 5: if Patrick Mahomes is your favorite player, doesn't matter that

680
00:33:05,960 --> 00:33:08,440
Speaker 5: you don't live in Kansas City. You're a Kansas City Chiefs.

681
00:33:08,200 --> 00:33:10,160
Speaker 3: Fan and may never go to a Kansas City Chiefs

682
00:33:10,160 --> 00:33:10,640
Speaker 3: game and may.

683
00:33:10,640 --> 00:33:12,760
Speaker 5: Never go to a game. That's a really important point too.

684
00:33:13,000 --> 00:33:15,200
Speaker 5: You could be the most dedicated fan on Earth and

685
00:33:15,240 --> 00:33:17,760
Speaker 5: never go to a game. So how do you build

686
00:33:17,840 --> 00:33:20,520
Speaker 5: that relationship with fans that are never going to walk

687
00:33:20,560 --> 00:33:24,080
Speaker 5: into your stadium. That's really different, and I do think

688
00:33:24,120 --> 00:33:26,400
Speaker 5: actually there are a lot of lessons from Peloton in

689
00:33:26,440 --> 00:33:29,120
Speaker 5: that we had. You know, in our early days of Peloton,

690
00:33:29,520 --> 00:33:33,000
Speaker 5: everyone knew the instructors, you know personally, they would give

691
00:33:33,000 --> 00:33:35,280
Speaker 5: them a hug after the game. The instructors were giving

692
00:33:35,280 --> 00:33:38,680
Speaker 5: them shout outs in class. As we scaled, we had

693
00:33:38,720 --> 00:33:41,880
Speaker 5: to professionalize it. Instructors were kind of cordoned off from

694
00:33:41,880 --> 00:33:44,280
Speaker 5: the members and so that kind of like the growing

695
00:33:44,320 --> 00:33:46,840
Speaker 5: pains of that, you know, changed over time. So anyway

696
00:33:46,880 --> 00:33:49,640
Speaker 5: back to the Giants being in Germany, so building a

697
00:33:49,680 --> 00:33:52,440
Speaker 5: global brand that is where the NFL is going, and

698
00:33:52,520 --> 00:33:54,920
Speaker 5: how the Giants show up and do that. I think

699
00:33:54,920 --> 00:33:57,080
Speaker 5: there are a lot of lessons from the Peloton. There's

700
00:33:57,080 --> 00:33:59,200
Speaker 5: a lot of lessons even from Gotham of how do

701
00:33:59,280 --> 00:34:02,200
Speaker 5: you go build old fandom when you don't have the

702
00:34:02,240 --> 00:34:06,480
Speaker 5: geographic roots. Because we are in Germany, we are competing.

703
00:34:06,720 --> 00:34:08,640
Speaker 5: Kansas City is a good example. They have the rights

704
00:34:08,640 --> 00:34:11,280
Speaker 5: to Germany as well. We're as much competing with Kansas

705
00:34:11,320 --> 00:34:13,680
Speaker 5: City as we are you know in New York with

706
00:34:13,719 --> 00:34:14,200
Speaker 5: the Jets.

707
00:34:14,480 --> 00:34:14,640
Speaker 3: Right.

708
00:34:15,360 --> 00:34:18,200
Speaker 4: You know what's interesting about the way that male and

709
00:34:18,320 --> 00:34:21,840
Speaker 4: female consume content and get really excited about it. I

710
00:34:21,880 --> 00:34:24,839
Speaker 4: find that some of my boys are only about wins

711
00:34:24,880 --> 00:34:27,320
Speaker 4: and losses, right, They don't care about you know sports radio,

712
00:34:27,880 --> 00:34:30,160
Speaker 4: and when I talk to my daughters about the Links

713
00:34:30,360 --> 00:34:33,680
Speaker 4: or Gotham or any team, what gets them excited is

714
00:34:33,680 --> 00:34:37,400
Speaker 4: a storytelling and that's a way to connect. What ways

715
00:34:37,400 --> 00:34:40,320
Speaker 4: are you thinking about from your players to connect to

716
00:34:40,360 --> 00:34:42,240
Speaker 4: your fan base to help grow their brand.

717
00:34:43,239 --> 00:34:43,439
Speaker 3: Yeah.

718
00:34:43,440 --> 00:34:45,280
Speaker 5: I think you bring up such a good point around

719
00:34:45,320 --> 00:34:49,200
Speaker 5: storytelling and content that is increasingly I think we see

720
00:34:49,200 --> 00:34:52,200
Speaker 5: for all of our fans that telling those stories they

721
00:34:52,200 --> 00:34:55,719
Speaker 5: are players have such interesting stories to tell. I read

722
00:34:55,719 --> 00:34:59,120
Speaker 5: something interesting recently around actually female athletes are so much

723
00:34:59,160 --> 00:35:01,600
Speaker 5: better at story telling then male athletes. So you do

724
00:35:02,000 --> 00:35:04,080
Speaker 5: again back to the kind of the investment thesis around

725
00:35:04,080 --> 00:35:05,920
Speaker 5: like we're in an athlete driven world, We're in a

726
00:35:05,960 --> 00:35:08,279
Speaker 5: content driven world. You have female athletes like you could

727
00:35:08,400 --> 00:35:10,160
Speaker 5: you know the writings on the wall of where that

728
00:35:10,200 --> 00:35:13,319
Speaker 5: could go. So content is is a really big piece

729
00:35:13,320 --> 00:35:15,720
Speaker 5: of it. And telling those stories, you know, to your point,

730
00:35:16,080 --> 00:35:17,919
Speaker 5: not just who they are on the field, but who

731
00:35:17,920 --> 00:35:20,560
Speaker 5: they are off the field. We have one of our

732
00:35:20,560 --> 00:35:23,400
Speaker 5: players as a cancer survivor, we need to tell that story.

733
00:35:23,640 --> 00:35:27,319
Speaker 5: We have players who are incredibly into fashion and they

734
00:35:27,360 --> 00:35:28,920
Speaker 5: were at the front row of fashion weeks, so we

735
00:35:28,920 --> 00:35:31,400
Speaker 5: need to tell that story. Rose level. One of our

736
00:35:31,400 --> 00:35:34,080
Speaker 5: players has this dog who has sort of like gone viral.

737
00:35:34,200 --> 00:35:36,880
Speaker 5: The dog sort of has its own personality and Instagram.

738
00:35:36,920 --> 00:35:40,520
Speaker 5: So being able to tell those stories and really kind

739
00:35:40,560 --> 00:35:43,600
Speaker 5: of explain who our players are in the rest of

740
00:35:43,640 --> 00:35:46,280
Speaker 5: their lives is really key to our growth story.

741
00:35:46,920 --> 00:35:49,040
Speaker 2: So, speaking of content, you know, one of the interesting

742
00:35:49,080 --> 00:35:51,600
Speaker 2: decisions the Giants made, and I know you're very involved

743
00:35:51,640 --> 00:35:53,960
Speaker 2: in sort of the marketing side, in the brand side,

744
00:35:54,600 --> 00:35:58,600
Speaker 2: was Hard Knocks off season, which went viral in a

745
00:35:58,640 --> 00:36:01,879
Speaker 2: lot of ways. Really truly behind the scenes on some

746
00:36:02,080 --> 00:36:04,160
Speaker 2: very big decisions, including Saquon.

747
00:36:03,800 --> 00:36:06,120
Speaker 3: Barkley going to the Eagles.

748
00:36:06,880 --> 00:36:10,840
Speaker 2: Talk about that strategy, how it works for the Giants,

749
00:36:10,880 --> 00:36:14,520
Speaker 2: and then what you take away for something like Gotham.

750
00:36:15,480 --> 00:36:18,640
Speaker 5: Yeah, so that doing more kind of what I would

751
00:36:18,640 --> 00:36:22,239
Speaker 5: call like off helmet content is something that I've been

752
00:36:22,280 --> 00:36:24,320
Speaker 5: really passionate about it and talking to the Giants about

753
00:36:24,320 --> 00:36:26,319
Speaker 5: for a long time. If you look at shows like

754
00:36:26,400 --> 00:36:28,920
Speaker 5: Drive to Survive, they were really the first to do it.

755
00:36:28,920 --> 00:36:32,279
Speaker 5: It introduced a new audience into a sport that might

756
00:36:32,320 --> 00:36:34,520
Speaker 5: have not been appealing for a lot of people. There

757
00:36:34,520 --> 00:36:37,319
Speaker 5: are the number of people who texted me after Hard

758
00:36:37,360 --> 00:36:39,480
Speaker 5: Knocks and said like Wow, I never thought I would

759
00:36:39,520 --> 00:36:42,160
Speaker 5: ever watch the NFL before, and it's just a way

760
00:36:42,160 --> 00:36:45,840
Speaker 5: to bring in a new audience, introduce the players, and

761
00:36:45,960 --> 00:36:49,160
Speaker 5: introduce the brand in a really different way. And so

762
00:36:49,280 --> 00:36:52,719
Speaker 5: that is something that I think the NFL will continue

763
00:36:52,760 --> 00:36:55,799
Speaker 5: to do and we absolutely look at it Gotham as

764
00:36:55,800 --> 00:36:59,279
Speaker 5: well as and how do we tell those stories in

765
00:36:59,320 --> 00:37:01,960
Speaker 5: a different way so that you bring in a casual fan.

766
00:37:02,040 --> 00:37:04,680
Speaker 5: The NFL is always going to have their hardcore at

767
00:37:04,800 --> 00:37:07,800
Speaker 5: football fans, but there is a whole world of casual

768
00:37:07,840 --> 00:37:10,719
Speaker 5: sports fans that you can bring in by doing this

769
00:37:10,800 --> 00:37:11,520
Speaker 5: type of content.

770
00:37:11,719 --> 00:37:14,120
Speaker 2: Yeah, I think about you know, Midge Purse, who is

771
00:37:14,440 --> 00:37:16,880
Speaker 2: you know, like Forgotham was a guest on this show

772
00:37:16,960 --> 00:37:20,080
Speaker 2: and her show off season, you know, was a completely

773
00:37:20,120 --> 00:37:24,960
Speaker 2: different view of the NWSL and female soccer players, which

774
00:37:25,080 --> 00:37:27,800
Speaker 2: I think literally had never happened to that totoint.

775
00:37:27,880 --> 00:37:30,360
Speaker 3: There was there was not a show like that before that.

776
00:37:30,480 --> 00:37:32,840
Speaker 3: There was there was no model out there.

777
00:37:33,160 --> 00:37:35,640
Speaker 2: So I do want to go back to this idea

778
00:37:35,800 --> 00:37:39,240
Speaker 2: of what happens next for the for the NWSL, because

779
00:37:39,840 --> 00:37:42,080
Speaker 2: you know, we've talked a lot about the the WNBA.

780
00:37:42,120 --> 00:37:44,319
Speaker 2: We've had kandas Parker super Bird on this show, you know,

781
00:37:44,400 --> 00:37:47,320
Speaker 2: the overnight sensation of the WNBA after twenty eight years,

782
00:37:47,400 --> 00:37:51,480
Speaker 2: you know, everybody really coming on to it. NWSL is

783
00:37:51,520 --> 00:37:54,520
Speaker 2: a little bit not as far along in its journey,

784
00:37:55,040 --> 00:37:57,840
Speaker 2: a couple failed leagues, you know, on the way here.

785
00:37:58,600 --> 00:38:01,319
Speaker 2: What is the next thing that has to happen and

786
00:38:01,360 --> 00:38:02,360
Speaker 2: what do you worry about?

787
00:38:03,760 --> 00:38:05,880
Speaker 5: So we talked to you know, a lot about you know,

788
00:38:05,920 --> 00:38:08,440
Speaker 5: starting with the product. I think that next step then

789
00:38:08,760 --> 00:38:11,719
Speaker 5: is the fan. So how do you get fans to

790
00:38:11,800 --> 00:38:14,120
Speaker 5: show up to games? Yeah, and I think about my

791
00:38:14,880 --> 00:38:17,120
Speaker 5: time again kind of going back to my peloton days.

792
00:38:17,200 --> 00:38:19,920
Speaker 5: Is we had to create a category. No one was

793
00:38:19,960 --> 00:38:22,840
Speaker 5: sitting around thinking like I wish I could go buy

794
00:38:23,040 --> 00:38:25,880
Speaker 5: a bike that streamed my favorite spin class in my

795
00:38:25,960 --> 00:38:29,520
Speaker 5: living room. We literally wrote the term connected fitness, which

796
00:38:29,560 --> 00:38:30,560
Speaker 5: is now you know, a term.

797
00:38:30,680 --> 00:38:30,919
Speaker 3: Yeah.

798
00:38:31,920 --> 00:38:34,720
Speaker 5: Not that we are inventing women's soccer at Gotham obvious

799
00:38:34,840 --> 00:38:36,960
Speaker 5: at the league obviously that has existed for a long time,

800
00:38:36,960 --> 00:38:39,600
Speaker 5: but we are this kind of the point of breaking

801
00:38:39,600 --> 00:38:41,920
Speaker 5: into culture. We have to go create this category. We

802
00:38:42,000 --> 00:38:44,480
Speaker 5: have to go create the demand for people to come.

803
00:38:44,480 --> 00:38:46,759
Speaker 5: There are the core fans, but to break out and

804
00:38:46,840 --> 00:38:49,200
Speaker 5: get and fill stadiums and sell out over and over.

805
00:38:49,239 --> 00:38:52,360
Speaker 5: We have to go create that demand. So again I

806
00:38:52,440 --> 00:38:53,759
Speaker 5: go back to this idea of like, we have a

807
00:38:53,760 --> 00:38:55,640
Speaker 5: great product, now we have to go create a great

808
00:38:55,680 --> 00:38:57,960
Speaker 5: fan experience around it in game. Then we have to

809
00:38:58,000 --> 00:38:59,920
Speaker 5: think about the three hundred and sixty five days a year,

810
00:39:00,239 --> 00:39:02,600
Speaker 5: how do we build that, you know, fandom and that

811
00:39:02,640 --> 00:39:05,719
Speaker 5: relationship with fans. I think consumers come first, and you're

812
00:39:05,719 --> 00:39:08,480
Speaker 5: starting to see that we had record breaking attendance at

813
00:39:08,480 --> 00:39:11,240
Speaker 5: our first ever playoff game. I know the Washington Spirits

814
00:39:11,239 --> 00:39:13,279
Speaker 5: sold out. I think Kansas City has sold out all

815
00:39:13,280 --> 00:39:15,799
Speaker 5: of their games this year, So you are starting to

816
00:39:15,880 --> 00:39:19,719
Speaker 5: see the fandom there. That is kind of I would

817
00:39:19,719 --> 00:39:22,600
Speaker 5: say step one and how we think about it at Gotham.

818
00:39:23,080 --> 00:39:27,040
Speaker 5: I think then sponsorship and partnerships like those come later. Typically,

819
00:39:27,080 --> 00:39:29,200
Speaker 5: I think you do see brands kind of follow like

820
00:39:29,239 --> 00:39:32,160
Speaker 5: consumers always go first. But I would say in terms

821
00:39:32,160 --> 00:39:34,480
Speaker 5: of like what are the risks, what are the opportunities,

822
00:39:34,480 --> 00:39:36,480
Speaker 5: I think that is like the next step to come.

823
00:39:36,600 --> 00:39:38,520
Speaker 3: So the risk is people just stop showing up.

824
00:39:39,880 --> 00:39:42,120
Speaker 5: Well, yes, I mean in theory, of course, there is.

825
00:39:42,480 --> 00:39:45,080
Speaker 5: We look at a metric called net promoter score. It's

826
00:39:45,160 --> 00:39:47,760
Speaker 5: again a tech metric that we brought into women's soccer

827
00:39:48,120 --> 00:39:51,920
Speaker 5: and our NPS score. So NPS has measured one hundred

828
00:39:52,000 --> 00:39:54,640
Speaker 5: to negative one hundred, So a score of zero is

829
00:39:54,680 --> 00:39:58,080
Speaker 5: actually not that bad. Our scores are typically in the

830
00:39:58,160 --> 00:40:02,839
Speaker 5: high eighties. That isn't a believable score. Apple, I think

831
00:40:02,960 --> 00:40:05,360
Speaker 5: is like sixty. I want to say Starbucks is in

832
00:40:05,400 --> 00:40:11,520
Speaker 5: the seventies. And these are really high numbers. So people

833
00:40:11,600 --> 00:40:13,920
Speaker 5: want when they come to the game, they want to

834
00:40:13,960 --> 00:40:16,920
Speaker 5: come back. Yes, in theory, it could all fall apart

835
00:40:16,960 --> 00:40:18,080
Speaker 5: and people could stop showing up.

836
00:40:18,120 --> 00:40:19,120
Speaker 3: You've got to get them there.

837
00:40:19,320 --> 00:40:21,279
Speaker 5: We have to get them there, and I think that

838
00:40:21,440 --> 00:40:26,319
Speaker 5: has been probably the biggest challenge from the beginning and

839
00:40:26,400 --> 00:40:29,919
Speaker 5: why we've been so deliberate about, you know, finding new

840
00:40:29,920 --> 00:40:32,640
Speaker 5: ways to get people there. There's always been this debate

841
00:40:32,680 --> 00:40:34,360
Speaker 5: within the league of like do you do comps do

842
00:40:34,480 --> 00:40:36,960
Speaker 5: not do comps. I've been a big believer in comps because, again,

843
00:40:36,960 --> 00:40:37,640
Speaker 5: if you go back to.

844
00:40:37,560 --> 00:40:42,000
Speaker 2: The meaning complimentary tickets, giving out complimentary tickets Storr delivery, yes, sorry.

845
00:40:41,840 --> 00:40:45,239
Speaker 5: Complimentary tickets because it is not on people's radar on

846
00:40:45,320 --> 00:40:47,200
Speaker 5: day one. So if you get them there and you

847
00:40:47,280 --> 00:40:49,959
Speaker 5: kind of bring them into that marketing funnel, they will

848
00:40:50,000 --> 00:40:50,439
Speaker 5: come back.

849
00:40:51,840 --> 00:40:54,320
Speaker 2: I do want to talk a little bit about what's

850
00:40:54,400 --> 00:40:55,279
Speaker 2: next for next three?

851
00:40:55,320 --> 00:40:57,680
Speaker 3: First of all, is next three? Next three? Decades? Is that?

852
00:40:57,719 --> 00:40:57,799
Speaker 1: What?

853
00:40:58,160 --> 00:41:00,680
Speaker 3: What is it? Next three? People? What is next three?

854
00:41:00,760 --> 00:41:03,080
Speaker 5: So next three? My husband actually came up with the name.

855
00:41:04,200 --> 00:41:07,160
Speaker 5: When you play pick up basketball, which I don't frequently

856
00:41:07,200 --> 00:41:10,239
Speaker 5: but he does, I guess are used to when you

857
00:41:10,280 --> 00:41:12,839
Speaker 5: win a game, then the person will say like, all right,

858
00:41:12,920 --> 00:41:15,399
Speaker 5: next three up. And it's this idea of like, all right,

859
00:41:15,440 --> 00:41:17,839
Speaker 5: you one. Now you're thinking about like what's the next

860
00:41:17,840 --> 00:41:20,760
Speaker 5: who are the next three? You're playing like we're leaning

861
00:41:20,800 --> 00:41:23,520
Speaker 5: into the future. It is clever. I wish I could

862
00:41:23,560 --> 00:41:24,520
Speaker 5: say it more concisely.

863
00:41:25,239 --> 00:41:27,319
Speaker 4: Talk to me a little bit about you know some

864
00:41:27,440 --> 00:41:30,000
Speaker 4: of your ops, how do you think about pitching it,

865
00:41:30,160 --> 00:41:33,160
Speaker 4: you know, outside of your family? And also how do

866
00:41:33,239 --> 00:41:37,160
Speaker 4: you deal with being a control partner? And most funds

867
00:41:37,520 --> 00:41:42,080
Speaker 4: have the burden investment and exit? How do you know

868
00:41:42,120 --> 00:41:43,080
Speaker 4: go through those challenges?

869
00:41:43,400 --> 00:41:47,439
Speaker 5: Yes, so I'm definitely I'm not an investor. I'm now

870
00:41:47,600 --> 00:41:49,200
Speaker 5: sitting here today, I'm like, I wish I had taken

871
00:41:49,239 --> 00:41:52,600
Speaker 5: those classes in business school. I did not. So it

872
00:41:52,680 --> 00:41:56,080
Speaker 5: is just our family. So the LP so it's my mom,

873
00:41:56,160 --> 00:41:58,560
Speaker 5: Laurie Tish, her two brothers, John and Steve, who are

874
00:41:58,600 --> 00:42:00,759
Speaker 5: the three owners of the Giants, and then everyone in

875
00:42:00,760 --> 00:42:03,280
Speaker 5: my generation, all my cousins, my sister and my cousins.

876
00:42:03,840 --> 00:42:07,320
Speaker 5: So I think we have the benefit of really running

877
00:42:07,360 --> 00:42:10,680
Speaker 5: it more like a family office than a fund, which means,

878
00:42:10,719 --> 00:42:14,040
Speaker 5: to your point, we're not necessarily thinking about the exit.

879
00:42:14,360 --> 00:42:18,480
Speaker 5: We're not even obviously we are returns driven, but we're

880
00:42:18,480 --> 00:42:21,359
Speaker 5: not just returns driven. And I think that's been really

881
00:42:21,440 --> 00:42:24,719
Speaker 5: important in how we've looked at investments, because every investment

882
00:42:24,920 --> 00:42:28,080
Speaker 5: we look at, we ask ourselves the question, why are

883
00:42:28,120 --> 00:42:30,200
Speaker 5: we on the cap table? Why are we the ones

884
00:42:30,239 --> 00:42:32,640
Speaker 5: sitting here today? And if the answer is they just

885
00:42:32,680 --> 00:42:35,480
Speaker 5: want capital, then we're probably we're not going to do

886
00:42:35,520 --> 00:42:37,480
Speaker 5: the deal because there are plenty of people that are

887
00:42:37,480 --> 00:42:40,600
Speaker 5: better investors probably then have a larger team to invest

888
00:42:41,040 --> 00:42:43,560
Speaker 5: than we do. The reason where they are often is

889
00:42:43,600 --> 00:42:48,040
Speaker 5: because of my experience at Peloton and or our legacy

890
00:42:48,120 --> 00:42:50,600
Speaker 5: co ownership of the Giants, and now increasingly because of

891
00:42:50,640 --> 00:42:53,560
Speaker 5: our role at Gotham. And so the reason I say

892
00:42:53,600 --> 00:42:57,400
Speaker 5: all that is because we look at investments sometimes because

893
00:42:57,440 --> 00:43:00,399
Speaker 5: we think it will make us better at the rest

894
00:43:00,440 --> 00:43:03,920
Speaker 5: of our jobs, and so We've looked at investments that

895
00:43:04,320 --> 00:43:08,400
Speaker 5: will potentially make us better NFL owners will teach us

896
00:43:08,440 --> 00:43:10,680
Speaker 5: about what One of our investments is this company called

897
00:43:10,680 --> 00:43:14,399
Speaker 5: transmit Live, which they help kind of run the back

898
00:43:14,520 --> 00:43:18,040
Speaker 5: end of ad tech as sports move to streaming. They

899
00:43:18,160 --> 00:43:21,640
Speaker 5: run a lot of the ad tech in advertising for streaming. Anyway,

900
00:43:21,680 --> 00:43:23,200
Speaker 5: the reason I bring that up is I hope it

901
00:43:23,640 --> 00:43:26,759
Speaker 5: does well, and it actually is doing very well. We

902
00:43:26,960 --> 00:43:30,480
Speaker 5: also did that investment because sports will continue to move

903
00:43:30,520 --> 00:43:34,680
Speaker 5: to streaming and media deals are an increasingly important part

904
00:43:34,719 --> 00:43:38,719
Speaker 5: of the valuations around owning teams, and so for us

905
00:43:38,719 --> 00:43:41,319
Speaker 5: to get smart on what that looks like makes us

906
00:43:41,360 --> 00:43:43,600
Speaker 5: better owners and makes us be able to have more

907
00:43:43,640 --> 00:43:47,000
Speaker 5: intelligent conversations, you know, sitting around boardroom. So a lot

908
00:43:47,040 --> 00:43:50,400
Speaker 5: of the deals we look at, we are there again

909
00:43:50,440 --> 00:43:52,440
Speaker 5: for the returns, but we're also there because of what

910
00:43:52,440 --> 00:43:53,000
Speaker 5: we're learning.

911
00:43:53,239 --> 00:43:54,840
Speaker 3: So Karena, stayin on next three.

912
00:43:55,600 --> 00:43:57,799
Speaker 4: What do you see in the future, I mean, can

913
00:43:57,840 --> 00:43:59,880
Speaker 4: you see another team, can you see your show of minustake,

914
00:44:00,200 --> 00:44:03,120
Speaker 4: WNBA team or anything else.

915
00:44:04,360 --> 00:44:07,240
Speaker 5: We're still actively looking at investments. I think the past

916
00:44:07,360 --> 00:44:09,799
Speaker 5: year has been a bit of a heads down, Like

917
00:44:09,920 --> 00:44:11,719
Speaker 5: we got to get Gotham to where it needs to be.

918
00:44:12,560 --> 00:44:15,080
Speaker 5: But we're I say to my team every day, we

919
00:44:15,280 --> 00:44:18,480
Speaker 5: were very deliberately. We didn't start Next three to buy Gotham,

920
00:44:19,239 --> 00:44:21,719
Speaker 5: and we're we started Next three because we want to

921
00:44:21,760 --> 00:44:24,120
Speaker 5: be at the forefront of where sports is going. Women's

922
00:44:24,120 --> 00:44:26,200
Speaker 5: sports and women's soccer is very much a part of that,

923
00:44:26,239 --> 00:44:28,040
Speaker 5: but it's not the only place sports are going. So

924
00:44:28,320 --> 00:44:30,560
Speaker 5: we are still actively looking at other things. I don't

925
00:44:30,600 --> 00:44:33,239
Speaker 5: know what those will be yet, but we continue to

926
00:44:33,239 --> 00:44:35,640
Speaker 5: believe that there is more happening in sports that we

927
00:44:35,680 --> 00:44:36,400
Speaker 5: want to be a part of.

928
00:44:36,880 --> 00:44:40,279
Speaker 2: You know, obviously both of you have this shared experience

929
00:44:40,360 --> 00:44:45,920
Speaker 2: of you know, getting into ownership. Has going into Gotham

930
00:44:45,960 --> 00:44:48,360
Speaker 2: like changed your personal visibility?

931
00:44:48,440 --> 00:44:51,279
Speaker 3: Like do you feel like you're sort of out there more?

932
00:44:51,360 --> 00:44:53,560
Speaker 2: Because I don't know if I'm asking this well, but

933
00:44:53,600 --> 00:44:55,560
Speaker 2: you know, with the Giants, it's like it's your family,

934
00:44:56,280 --> 00:44:59,359
Speaker 2: but for Gotham, like you're you're the face, Like you know,

935
00:44:59,440 --> 00:45:02,040
Speaker 2: you're the you're the person like on the JumboTron when

936
00:45:02,040 --> 00:45:03,520
Speaker 2: they cut to the owner's box.

937
00:45:03,320 --> 00:45:06,560
Speaker 3: To see to see the reaction. What's that been like

938
00:45:06,640 --> 00:45:06,880
Speaker 3: for you?

939
00:45:08,000 --> 00:45:10,560
Speaker 5: Yeah, I don't think I realized that was going to

940
00:45:10,640 --> 00:45:12,879
Speaker 5: be that it was going to be that. I think

941
00:45:12,920 --> 00:45:15,959
Speaker 5: when we decided again, I thought it was a good deal.

942
00:45:16,000 --> 00:45:17,480
Speaker 5: I thought it was you know, I thought it was

943
00:45:17,680 --> 00:45:19,319
Speaker 5: a good thing for our family to be in. I

944
00:45:19,320 --> 00:45:22,239
Speaker 5: don't think I realized how much it was personally going

945
00:45:22,239 --> 00:45:24,880
Speaker 5: it was going to be tied to my personal identity.

946
00:45:26,280 --> 00:45:29,160
Speaker 5: The number of messages I get from you know, old

947
00:45:29,160 --> 00:45:32,160
Speaker 5: friends in college or business school that will just kind

948
00:45:32,160 --> 00:45:34,239
Speaker 5: of randomly reach out to me and say like, thank

949
00:45:34,280 --> 00:45:38,920
Speaker 5: you for what you're doing for women's sports. And I

950
00:45:38,960 --> 00:45:42,280
Speaker 5: now take that really seriously. And I didn't. You know, again,

951
00:45:42,320 --> 00:45:44,759
Speaker 5: we we bought got them because we thought it was

952
00:45:44,760 --> 00:45:48,920
Speaker 5: a good investment. I don't think I appreciated how much

953
00:45:49,520 --> 00:45:52,560
Speaker 5: I now feel trum. I've always felt tremendous well, I've

954
00:45:52,560 --> 00:45:54,640
Speaker 5: always felt tremendous pressure. It's probably why I'm so type A,

955
00:45:54,680 --> 00:45:57,520
Speaker 5: but I've always felt tremendous pressure since starting Next three

956
00:45:57,640 --> 00:46:00,200
Speaker 5: to deliver the returns to my family, to you know,

957
00:46:00,200 --> 00:46:03,680
Speaker 5: to make good investments. I now feel a tremendous pressure

958
00:46:04,040 --> 00:46:09,240
Speaker 5: to help grow women's sports. And that's a different level

959
00:46:09,280 --> 00:46:11,640
Speaker 5: of pressure. Is I now feel like this kind of

960
00:46:11,680 --> 00:46:15,960
Speaker 5: societal pressure and cultural pressure to realize, like I think

961
00:46:16,000 --> 00:46:17,799
Speaker 5: we all are clear on what the dream is for

962
00:46:17,880 --> 00:46:21,320
Speaker 5: women's sports, and I feel very responsible for the execution

963
00:46:21,480 --> 00:46:23,800
Speaker 5: of that. So it is a different you know, it

964
00:46:24,239 --> 00:46:27,200
Speaker 5: was not. It was not what I thought would be.

965
00:46:33,920 --> 00:46:37,000
Speaker 3: All Right, we're going to move to our rapid fire segment.

966
00:46:37,080 --> 00:46:39,640
Speaker 2: This is fun, We're going to keep it tight and

967
00:46:39,680 --> 00:46:42,320
Speaker 2: we'll just bounce back and forth and you know, answer

968
00:46:42,440 --> 00:46:43,319
Speaker 2: however you see fit?

969
00:46:44,280 --> 00:46:47,040
Speaker 3: All right? What's one word to describe your deal making style?

970
00:46:47,880 --> 00:46:48,760
Speaker 5: Unconventional?

971
00:46:49,480 --> 00:46:52,720
Speaker 3: What's more important your gut, instinct or data?

972
00:46:53,320 --> 00:46:55,120
Speaker 5: Well, I'm the most indecisive person on earth, so I

973
00:46:55,120 --> 00:46:55,719
Speaker 5: would say both.

974
00:46:56,200 --> 00:46:57,160
Speaker 3: Okay, perfect.

975
00:46:57,560 --> 00:47:00,360
Speaker 4: What's your best piece of advice you've ever received on

976
00:47:00,480 --> 00:47:02,040
Speaker 4: deal making or business?

977
00:47:02,800 --> 00:47:05,680
Speaker 5: Create a culture where you would want to work.

978
00:47:06,400 --> 00:47:09,120
Speaker 3: What's the worst advice you've ever been given that.

979
00:47:09,160 --> 00:47:10,880
Speaker 5: This was going to be easy?

980
00:47:12,000 --> 00:47:14,840
Speaker 3: What's your hype song before a big meeting or big negotiation.

981
00:47:15,600 --> 00:47:17,680
Speaker 5: Well, I mostly only listen to my kids like Taylor

982
00:47:17,680 --> 00:47:20,080
Speaker 5: Swift albums, so probably so Taylor Swift version.

983
00:47:20,200 --> 00:47:23,080
Speaker 3: That's fair. Do you have a go to peloton instructor?

984
00:47:23,840 --> 00:47:25,799
Speaker 5: I did go on the Peloton today with Robin Love

985
00:47:25,880 --> 00:47:26,920
Speaker 5: Robin Robin Arzon.

986
00:47:27,840 --> 00:47:29,960
Speaker 4: If you can only watch one sport for the rest

987
00:47:29,960 --> 00:47:31,239
Speaker 4: of your life, Which one is it?

988
00:47:31,680 --> 00:47:31,839
Speaker 3: Oh?

989
00:47:31,880 --> 00:47:34,320
Speaker 5: My kids always ask me football or soccer. It's so stressful.

990
00:47:34,360 --> 00:47:35,080
Speaker 5: Probably football.

991
00:47:35,120 --> 00:47:37,640
Speaker 2: Still, what team do you want to see win a

992
00:47:37,719 --> 00:47:41,080
Speaker 2: championship more than any is a tough one for gotam.

993
00:47:41,560 --> 00:47:44,440
Speaker 4: Do you have a fun fact about yourself that your

994
00:47:44,480 --> 00:47:46,359
Speaker 4: colleagues would be surprised to hear?

995
00:47:47,000 --> 00:47:50,000
Speaker 5: I am a vegetarian because my sister used to moo

996
00:47:50,040 --> 00:47:53,000
Speaker 5: at me at the table because she was a vegetarian

997
00:47:53,000 --> 00:47:55,040
Speaker 5: and she believed me into be hamming one too.

998
00:47:56,360 --> 00:47:59,080
Speaker 3: Perfect, That's true.

999
00:47:59,200 --> 00:47:59,680
Speaker 5: I'm here.

1000
00:48:01,040 --> 00:48:04,279
Speaker 3: Ye, Well, this was really fun. Thank you, thank you,

1001
00:48:04,360 --> 00:48:04,640
Speaker 3: thank you.

1002
00:48:11,719 --> 00:48:15,560
Speaker 1: The Deal is a production from Bloomberg Podcasts and Bloomberg Originals.

1003
00:48:15,960 --> 00:48:19,000
Speaker 1: The Deal is hosted by Alex Rodriguez and Jason Kelly.

1004
00:48:19,520 --> 00:48:24,200
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1005
00:48:24,320 --> 00:48:27,920
Speaker 1: music and engineering by Blake Maples. Our managing editor is

1006
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1007
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1008
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1009
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1010
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1011
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1012
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1014
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1017
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