1 00:00:00,280 --> 00:00:03,560 Speaker 1: This is the business of sports where in the situation 2 00:00:03,640 --> 00:00:06,400 Speaker 1: that we haven't dealt with in modern times, pandemic here 3 00:00:06,440 --> 00:00:10,479 Speaker 1: has really accelerated the investments that you've been advocating for 4 00:00:10,480 --> 00:00:13,280 Speaker 1: for years. Almost everyone else there is hoping that there's 5 00:00:13,320 --> 00:00:16,759 Speaker 1: some kind of return to normal by August September. In 6 00:00:16,880 --> 00:00:20,200 Speaker 1: depth conversations with the leaders in the sports industry, who 7 00:00:20,200 --> 00:00:22,800 Speaker 1: wants to be the sacrificial lambs that shows up at 8 00:00:22,840 --> 00:00:25,640 Speaker 1: the first big major sporting events. Were part of something 9 00:00:25,720 --> 00:00:28,120 Speaker 1: much bigger than the sports right now and the health 10 00:00:28,120 --> 00:00:30,640 Speaker 1: and safety of our stakeholders is both most important every 11 00:00:30,720 --> 00:00:33,640 Speaker 1: moment I think we're all in business respective thinking about 12 00:00:33,680 --> 00:00:36,320 Speaker 1: the impact that the virus is having a across the country. 13 00:00:36,520 --> 00:00:41,440 Speaker 1: Bloomberg Business of Sports from Bloomberg Radio. Hi, I'm Jason Kelly, 14 00:00:41,479 --> 00:00:44,040 Speaker 1: and I'm Mike Lynch and I'm Michael Barr. Every week 15 00:00:44,080 --> 00:00:47,199 Speaker 1: of this time plus Mondays and Wednesdays, we explore the 16 00:00:47,200 --> 00:00:49,800 Speaker 1: big money issues in the world of sports. Today, we 17 00:00:49,840 --> 00:00:52,960 Speaker 1: sit down with Don Davis, co founder and chairman of 18 00:00:53,000 --> 00:00:57,120 Speaker 1: the Professional Fighters League. Don previously served as a senior 19 00:00:57,160 --> 00:01:00,440 Speaker 1: executive at A O L. He is a founding partner 20 00:01:00,520 --> 00:01:04,800 Speaker 1: of private equity fund Revolution Growth and a minority investor 21 00:01:05,080 --> 00:01:10,000 Speaker 1: in professional e sports organization Team Liquid. That conversation straight 22 00:01:10,040 --> 00:01:12,720 Speaker 1: ahead on the Bloombergy Business of Sports Show. But first, 23 00:01:13,200 --> 00:01:15,520 Speaker 1: let's look at some of the top stories of the week, 24 00:01:15,920 --> 00:01:19,440 Speaker 1: beginning with Florida opening the door to sports in the state. 25 00:01:19,840 --> 00:01:23,600 Speaker 1: Governor Round de Santis says he'll welcome all professional organizations 26 00:01:23,640 --> 00:01:27,960 Speaker 1: for practicing games, including out of state teams facing stricter 27 00:01:28,280 --> 00:01:32,360 Speaker 1: restrictions at home. Jason, I gotta tell you, I saw 28 00:01:32,440 --> 00:01:34,959 Speaker 1: this and I thought back to a line that my 29 00:01:35,080 --> 00:01:39,080 Speaker 1: brother used, I think after an election in Florida. He 30 00:01:39,200 --> 00:01:41,720 Speaker 1: lived down there in Miami for a few years, and 31 00:01:41,840 --> 00:01:45,080 Speaker 1: he simply said, Florida gonna Florida. And I feel like 32 00:01:45,120 --> 00:01:47,640 Speaker 1: this was what was going on this week. I mean, 33 00:01:47,640 --> 00:01:51,279 Speaker 1: this is a pretty remarkable move on the part of 34 00:01:51,320 --> 00:01:54,240 Speaker 1: the governor, don't you think. Mike Lynch, Well, he was 35 00:01:54,280 --> 00:01:56,960 Speaker 1: the last to uh to shut everything down, and now 36 00:01:56,960 --> 00:01:59,360 Speaker 1: he's the first to open everything up. And and uh, 37 00:01:59,400 --> 00:02:01,320 Speaker 1: I have a place down in Naples. I haven't been 38 00:02:01,320 --> 00:02:03,680 Speaker 1: there in a while, and he closed the beaches down, 39 00:02:03,840 --> 00:02:06,000 Speaker 1: and when he opened them up, it was just mayhem 40 00:02:06,040 --> 00:02:07,680 Speaker 1: on the first day. So they shut him right down 41 00:02:07,720 --> 00:02:10,200 Speaker 1: because everybody came in and was elbow to elbow on 42 00:02:10,280 --> 00:02:12,360 Speaker 1: the beach like it was the fourth of July. I 43 00:02:12,360 --> 00:02:14,919 Speaker 1: think there's just a lot of this is just his 44 00:02:15,120 --> 00:02:18,280 Speaker 1: chaos written all over it. To me, I agree with you, Mike, 45 00:02:18,440 --> 00:02:21,720 Speaker 1: this this is gonna be chaos all over the place. Again, 46 00:02:21,800 --> 00:02:24,400 Speaker 1: I've said this over and over and I'm gonna say 47 00:02:24,440 --> 00:02:27,880 Speaker 1: it again. All it takes is for one person to 48 00:02:27,960 --> 00:02:31,320 Speaker 1: come in there and test positive for COVID Night Team, 49 00:02:31,720 --> 00:02:35,440 Speaker 1: and the whole thing is going to go up in flames. Jason, Yeah, 50 00:02:35,480 --> 00:02:38,280 Speaker 1: I mean, I'm I'm really wrestling with this in part 51 00:02:38,400 --> 00:02:41,040 Speaker 1: because of what we saw and and it's apropos that 52 00:02:41,080 --> 00:02:43,240 Speaker 1: we're talking about this because we're gonna hear in a 53 00:02:43,240 --> 00:02:46,880 Speaker 1: few minutes from Don Davis and he's in the m 54 00:02:47,000 --> 00:02:50,600 Speaker 1: M A business and and obviously the UFC we talked 55 00:02:50,639 --> 00:02:52,240 Speaker 1: a lot about this earlier in the week. You know, 56 00:02:52,320 --> 00:02:54,639 Speaker 1: they were able to pull it off, and they did 57 00:02:54,680 --> 00:02:56,840 Speaker 1: have a positive case and they were able to quarantine 58 00:02:56,880 --> 00:03:01,399 Speaker 1: that person. I mean, I guess Florida will something of 59 00:03:01,440 --> 00:03:04,639 Speaker 1: an experiment in many ways. I mean, it also remains 60 00:03:04,680 --> 00:03:08,520 Speaker 1: to be seen how much of this is essentially symbolic 61 00:03:08,880 --> 00:03:11,600 Speaker 1: and how much of this is really gonna be a 62 00:03:11,600 --> 00:03:13,880 Speaker 1: situation where people are gonna take advantage of it, and 63 00:03:14,160 --> 00:03:17,280 Speaker 1: whether it's smaller sports or bigger sports, you know, whether 64 00:03:17,320 --> 00:03:20,800 Speaker 1: we may see at least some people playing around with 65 00:03:20,840 --> 00:03:24,640 Speaker 1: different formats to figure out how we get back up. Next, 66 00:03:24,720 --> 00:03:28,120 Speaker 1: let's talk about Tiger Woods and the Golf Channel looking 67 00:03:28,160 --> 00:03:31,320 Speaker 1: to capitalize on the broadcast of his upcoming charity match 68 00:03:31,600 --> 00:03:35,760 Speaker 1: with a one hour special on Tiger airing right after. Well, 69 00:03:35,880 --> 00:03:40,360 Speaker 1: this is I think you can point directly to Last Dance, right. 70 00:03:40,400 --> 00:03:45,480 Speaker 1: I mean, they basically saw how much popularity, how much 71 00:03:45,520 --> 00:03:48,760 Speaker 1: buzz there was around that Michael Jordan's documentary. They had 72 00:03:48,800 --> 00:03:51,760 Speaker 1: this in the can and I guess, Mike Lynch, this 73 00:03:51,840 --> 00:03:54,680 Speaker 1: was something they had planned to air right after The Masters. 74 00:03:54,720 --> 00:03:58,680 Speaker 1: Obviously the Masters now postponed to the fall, and in 75 00:03:58,720 --> 00:04:02,960 Speaker 1: an absence of live sports, I think a ton of 76 00:04:02,960 --> 00:04:05,160 Speaker 1: people are going to watch this. I couldn't agree more. 77 00:04:05,600 --> 00:04:09,080 Speaker 1: Remember the Last Dance, the first episode had six million 78 00:04:09,080 --> 00:04:12,040 Speaker 1: people watching it, and I think even more eyeballs with 79 00:04:12,080 --> 00:04:14,480 Speaker 1: Tiger Woods here. Um, you know, do we really know 80 00:04:14,800 --> 00:04:16,920 Speaker 1: the real Tiger Woods? And what I think is gonna 81 00:04:16,960 --> 00:04:19,960 Speaker 1: be really interesting is his volatle caddy at the time. 82 00:04:20,040 --> 00:04:24,640 Speaker 1: Stevie Williams, who's who's was sort of his enforcery, were 83 00:04:24,680 --> 00:04:27,720 Speaker 1: always snapping at photographers, always snapping at fans. He just 84 00:04:27,880 --> 00:04:30,680 Speaker 1: was a guy that was the enforcers. So this is 85 00:04:30,680 --> 00:04:33,159 Speaker 1: gonna be interesting to watch the exchange between Tiger and 86 00:04:33,160 --> 00:04:36,880 Speaker 1: Stevie Williams and Stevie Williams and the people that antagonized him. 87 00:04:37,120 --> 00:04:40,159 Speaker 1: Remember what this documentary is about. It's about him winning 88 00:04:40,200 --> 00:04:45,520 Speaker 1: four majors within about three hundred days. Yeah, I mean 89 00:04:46,120 --> 00:04:49,440 Speaker 1: that is incredible. I and I'm like you, guys, I 90 00:04:49,520 --> 00:04:52,960 Speaker 1: want to see how this goes now, Jason, Yeah, absolutely, 91 00:04:53,000 --> 00:04:55,400 Speaker 1: I mean the Tiger Slam, it will go down in history. 92 00:04:55,680 --> 00:05:00,000 Speaker 1: And honestly, I think this is more interesting in many 93 00:05:00,000 --> 00:05:02,520 Speaker 1: ways because of the comeback we saw last year, that 94 00:05:02,680 --> 00:05:06,240 Speaker 1: very emotional Masters win, you know, putting on that green 95 00:05:06,320 --> 00:05:10,840 Speaker 1: jacket so many years afterwards, and I think there is 96 00:05:10,880 --> 00:05:15,440 Speaker 1: a resonance for Tiger, And again, I think that nostalgia 97 00:05:15,520 --> 00:05:19,479 Speaker 1: that we all have felt watching all about Jordan's I 98 00:05:19,520 --> 00:05:22,320 Speaker 1: think there's some of that with Tiger. Even though I 99 00:05:22,360 --> 00:05:27,160 Speaker 1: think we can be honest, our collective relationship with Tiger 100 00:05:27,240 --> 00:05:29,039 Speaker 1: is probably a little more complicated than it is with 101 00:05:29,120 --> 00:05:31,960 Speaker 1: Jordan's And finally, let's talk about the XFL. The league 102 00:05:32,040 --> 00:05:35,120 Speaker 1: fire at CEO Oliver Luck, with lawyers for the XFL 103 00:05:35,279 --> 00:05:38,640 Speaker 1: saying he was terminated for gross neglect of his job 104 00:05:39,200 --> 00:05:43,000 Speaker 1: during the early days of the coronavirus pandemic, personal use 105 00:05:43,120 --> 00:05:47,360 Speaker 1: of a league issued iPhone, and signing former NFL player 106 00:05:47,400 --> 00:05:51,680 Speaker 1: Antonio Kellaway despite owner Vince McMahon's order to avoid players 107 00:05:52,000 --> 00:05:56,599 Speaker 1: with troubled legal histories. We've had Oliver Luck on the 108 00:05:56,680 --> 00:06:00,920 Speaker 1: show a number of times, Jason uh and I feel 109 00:06:00,960 --> 00:06:05,480 Speaker 1: sad from the fact that the XFL itself, it seemed 110 00:06:05,520 --> 00:06:07,599 Speaker 1: like it was a great idea and it just ran 111 00:06:07,640 --> 00:06:10,840 Speaker 1: into the wrong time. I have to say, reading up 112 00:06:10,920 --> 00:06:14,320 Speaker 1: on this lawsuit, it just makes you WinCE to some 113 00:06:14,480 --> 00:06:20,560 Speaker 1: extent because you can see real issues of disagreement, like 114 00:06:20,920 --> 00:06:25,440 Speaker 1: the Antonio Callaway signing. You can see some of the 115 00:06:25,560 --> 00:06:30,440 Speaker 1: elements of honest conflict that that happens everywhere. But when 116 00:06:30,560 --> 00:06:32,960 Speaker 1: you see that Vince McMahon and this is really just 117 00:06:33,160 --> 00:06:36,559 Speaker 1: McMahon versus Luck. In many ways, this is not about 118 00:06:36,560 --> 00:06:40,200 Speaker 1: the institutions. This is these two guys. And my best 119 00:06:40,240 --> 00:06:43,360 Speaker 1: evidence of that is he's going after him for using 120 00:06:43,839 --> 00:06:48,000 Speaker 1: his work phone for some personal business. I mean, wow, 121 00:06:48,040 --> 00:06:52,719 Speaker 1: that that's that's pretty brutal, Mike. If we didn't know 122 00:06:52,760 --> 00:06:55,760 Speaker 1: any better, this would be a setup for the next episode. 123 00:06:55,760 --> 00:06:58,520 Speaker 1: Tune in next week to see what happens between Oliver 124 00:06:58,600 --> 00:07:01,040 Speaker 1: luck In Vince McMahon, right, because that's that's the formula 125 00:07:01,120 --> 00:07:04,360 Speaker 1: for success with the old WWF and ww E got 126 00:07:04,360 --> 00:07:07,200 Speaker 1: a villain. You got a villain who's Vince McMahan. You've 127 00:07:07,200 --> 00:07:09,040 Speaker 1: got a malign guy who is all of her luck. 128 00:07:09,640 --> 00:07:12,120 Speaker 1: But this seems so very very petty. The one thing 129 00:07:12,560 --> 00:07:14,360 Speaker 1: that he's got going for him, I mean all of 130 00:07:14,360 --> 00:07:17,960 Speaker 1: her luck, is that Vince personally guaranteed his contract five years, 131 00:07:18,040 --> 00:07:20,760 Speaker 1: five million with a two million dollar bonus. And this 132 00:07:20,840 --> 00:07:24,360 Speaker 1: reminds me of another fledgling league, the USFL, When Doug 133 00:07:24,360 --> 00:07:27,880 Speaker 1: Flutie won the Heisman Trophy, Donald Trump signed him to 134 00:07:27,920 --> 00:07:31,360 Speaker 1: a contract with the New Jersey Generals and personally guaranteed it. 135 00:07:31,440 --> 00:07:34,920 Speaker 1: And when the league folded the USFL, Flutie continued to 136 00:07:34,960 --> 00:07:38,120 Speaker 1: be paid by Donald Trump. Will now that the XFL 137 00:07:38,200 --> 00:07:41,320 Speaker 1: is up for sale, will Vince McMahon honor his personal 138 00:07:41,360 --> 00:07:44,280 Speaker 1: contract with all of her luck? This is something I've 139 00:07:44,320 --> 00:07:48,360 Speaker 1: always said every business owner whether you're Vince McMahon or 140 00:07:48,400 --> 00:07:51,960 Speaker 1: whether you're the mom and pop store owner down the street. 141 00:07:52,400 --> 00:07:57,280 Speaker 1: Everybody has a dream when they start a business. And 142 00:07:56,520 --> 00:07:59,960 Speaker 1: and and I wish people would understand. I mean, ps, 143 00:08:00,040 --> 00:08:03,400 Speaker 1: we walk into the store, we walk into the stadium. 144 00:08:03,440 --> 00:08:07,360 Speaker 1: But remember it is a business. So when something goes 145 00:08:07,480 --> 00:08:12,000 Speaker 1: belly up, I always feel bad, uh nine percent of 146 00:08:12,040 --> 00:08:15,760 Speaker 1: the time because somebody's dream just went up in flames. 147 00:08:15,920 --> 00:08:19,720 Speaker 1: And this is this is a remake of the XFL. 148 00:08:19,840 --> 00:08:22,240 Speaker 1: And I really thought it was gonna work. I did too, 149 00:08:22,360 --> 00:08:24,920 Speaker 1: and or I thought it at least had promise, And 150 00:08:25,160 --> 00:08:28,520 Speaker 1: certainly the early reviews were good and the ties to 151 00:08:28,720 --> 00:08:32,000 Speaker 1: the NFL. It felt like we're closer, and so it 152 00:08:32,080 --> 00:08:34,560 Speaker 1: was set up in a way to at least have 153 00:08:35,000 --> 00:08:38,680 Speaker 1: a much better shot. But for it to descend, as 154 00:08:38,720 --> 00:08:42,440 Speaker 1: you say, Mike, into this sort of pettiness and also 155 00:08:43,000 --> 00:08:47,400 Speaker 1: just this level of acrimony and personal acrimony, it's it's 156 00:08:47,480 --> 00:08:50,120 Speaker 1: kind of tough to watch. It just enhances the image 157 00:08:50,120 --> 00:08:53,160 Speaker 1: of Vince McMahon as the bully, the bad guy, until 158 00:08:53,160 --> 00:08:55,280 Speaker 1: the next time he surfaces. Now, let's get to this 159 00:08:55,360 --> 00:08:58,560 Speaker 1: week's interview with Don Davis, co founder and chairman of 160 00:08:58,640 --> 00:09:02,359 Speaker 1: the Professional Fighters Lead. Don has a ton of experience 161 00:09:02,400 --> 00:09:06,000 Speaker 1: in both sports and business, previously serving as a senior 162 00:09:06,080 --> 00:09:09,400 Speaker 1: executive at a o L and he's also a founding 163 00:09:09,440 --> 00:09:13,320 Speaker 1: partner of private equity fund Revolution Growth and a minority 164 00:09:13,320 --> 00:09:18,800 Speaker 1: investor in professional e sports organization Team Liquid. Don, thank 165 00:09:18,880 --> 00:09:21,320 Speaker 1: you so much for joining us on the Bloomberg Business 166 00:09:21,320 --> 00:09:23,520 Speaker 1: of Sports Show. It's great to be here, So, Don, 167 00:09:24,080 --> 00:09:27,160 Speaker 1: my biggest challenge in preparing for this interview was where 168 00:09:27,200 --> 00:09:30,200 Speaker 1: to begin. I mean, looking at your background, your breadth 169 00:09:30,280 --> 00:09:34,520 Speaker 1: of experience, as Michael Barr just sort of briefly touched on, 170 00:09:35,000 --> 00:09:37,360 Speaker 1: h it's sort of amazing. So I'm so grateful that 171 00:09:37,360 --> 00:09:40,079 Speaker 1: that we have some time with you. Let's start, though, 172 00:09:40,360 --> 00:09:45,360 Speaker 1: with the Professional Fighters League, because it feels like that 173 00:09:45,640 --> 00:09:50,160 Speaker 1: area of sports in this absolutely bizarro time we're living in, 174 00:09:50,880 --> 00:09:54,280 Speaker 1: maybe providing a glimmer of hope of how we get back, 175 00:09:54,520 --> 00:09:57,680 Speaker 1: give us the state of play with the league. Yeah, absolutely, um. 176 00:09:57,920 --> 00:10:00,560 Speaker 1: The Professional Fighters League, for those who might not know 177 00:10:00,679 --> 00:10:03,640 Speaker 1: of listening, is the first and only that does the 178 00:10:03,840 --> 00:10:07,400 Speaker 1: true sport format that means individual fighters compete in a 179 00:10:07,480 --> 00:10:11,880 Speaker 1: regular season, playoffs in championship. So it's just like the 180 00:10:11,960 --> 00:10:15,880 Speaker 1: NBA or the NFL where it's transparency and meripocracy, as 181 00:10:15,920 --> 00:10:18,280 Speaker 1: you know in the UFC, which is great entertainment. A 182 00:10:18,320 --> 00:10:22,520 Speaker 1: promoter like case Dana White, decides the rankings, decides who's 183 00:10:22,800 --> 00:10:25,000 Speaker 1: number one and number two and who's going to fight. 184 00:10:25,400 --> 00:10:28,320 Speaker 1: So it's fantastic fighting and entertainment. But it's not a 185 00:10:28,360 --> 00:10:31,480 Speaker 1: sports season because obviously in the NBA, Adam Silver doesn't 186 00:10:31,520 --> 00:10:34,559 Speaker 1: decide his Lebron James gonna make the playoffs. He's got 187 00:10:34,559 --> 00:10:37,040 Speaker 1: to earn it to win an advance. Um. So in 188 00:10:37,080 --> 00:10:39,679 Speaker 1: the PFL, it is the sports season format which is 189 00:10:39,720 --> 00:10:42,319 Speaker 1: never hoppened in combat sports, whether it's boxing or m 190 00:10:42,440 --> 00:10:44,559 Speaker 1: m A. And that's what we're really founded on, is 191 00:10:44,559 --> 00:10:47,880 Speaker 1: that regular season playoffs in championship and in the PFL. 192 00:10:48,200 --> 00:10:51,360 Speaker 1: We were founded three years ago and we've completed two seasons, 193 00:10:51,960 --> 00:10:54,320 Speaker 1: uh the two thousand eighteen and two thousand nineteen season, 194 00:10:54,400 --> 00:10:56,559 Speaker 1: and we're on ESPN two live in a hundred sixty 195 00:10:56,559 --> 00:11:00,800 Speaker 1: countries around the world. But this year, obviously with pandemic 196 00:11:00,880 --> 00:11:03,040 Speaker 1: and we have fighters from twenty five countries around the 197 00:11:03,040 --> 00:11:06,080 Speaker 1: world and broadcasts a hundred sixty countries, we had to 198 00:11:06,080 --> 00:11:08,880 Speaker 1: postpone the season until spring of one, where we'll be 199 00:11:08,920 --> 00:11:11,679 Speaker 1: again on ESPN two and with thirty media partners in 200 00:11:11,720 --> 00:11:14,240 Speaker 1: a hundred sixty countries around the world. But in order 201 00:11:14,280 --> 00:11:16,720 Speaker 1: to keep the integrity of the season, takes six months 202 00:11:16,720 --> 00:11:19,240 Speaker 1: for the regular season, playoffs and championship. Fighters have to 203 00:11:19,280 --> 00:11:22,640 Speaker 1: win four times eventually to be crowned the champion that 204 00:11:22,679 --> 00:11:27,120 Speaker 1: will be in spring of this. This sport is exploding globally. 205 00:11:27,160 --> 00:11:29,880 Speaker 1: But what's the percentage of fans here in the United 206 00:11:29,920 --> 00:11:33,920 Speaker 1: States versus fans and other countries that are addicted to 207 00:11:33,720 --> 00:11:36,800 Speaker 1: h professional fighting. It's a great question. Look, I grew 208 00:11:36,880 --> 00:11:39,480 Speaker 1: up watching the Big four sports like most people in 209 00:11:39,520 --> 00:11:42,440 Speaker 1: the United States. There's three hundred million m m A 210 00:11:42,559 --> 00:11:45,960 Speaker 1: fans globally, that's the third biggest fan base after soccer 211 00:11:46,080 --> 00:11:50,880 Speaker 1: basketball only one five and those fans in the United States. 212 00:11:51,400 --> 00:11:53,280 Speaker 1: So for most of us here in the US, we 213 00:11:53,360 --> 00:11:56,080 Speaker 1: think of m m A as more of a niche sport. 214 00:11:56,640 --> 00:11:59,640 Speaker 1: But when you look globally, it's a mass sport. It's 215 00:11:59,640 --> 00:12:02,520 Speaker 1: a top three sports in almost every country except the 216 00:12:02,600 --> 00:12:06,040 Speaker 1: United States. So it's growing ten pc a year, the 217 00:12:06,120 --> 00:12:10,120 Speaker 1: fastest growing sport, and it's viewed in a hundred sixty countries, 218 00:12:10,280 --> 00:12:13,080 Speaker 1: and there's three million fans. So if you're looking at 219 00:12:13,080 --> 00:12:15,440 Speaker 1: a sport for the next decade, and certainly it's a 220 00:12:15,480 --> 00:12:20,079 Speaker 1: young sport demo eighteen thirty five mm A used the 221 00:12:20,120 --> 00:12:23,520 Speaker 1: sport for the next decade, done, you might have in 222 00:12:23,559 --> 00:12:28,240 Speaker 1: this environment now a good set up. What I mean 223 00:12:28,280 --> 00:12:31,960 Speaker 1: by that is you can take the fight and possibly 224 00:12:32,000 --> 00:12:35,760 Speaker 1: put it in a studio to avoid any contact with 225 00:12:35,880 --> 00:12:38,520 Speaker 1: fans because right now sports they want to come back 226 00:12:38,559 --> 00:12:41,920 Speaker 1: without fans. But you guys could do that. I think 227 00:12:41,960 --> 00:12:44,120 Speaker 1: England is doing something like that where they're trying to 228 00:12:44,160 --> 00:12:47,320 Speaker 1: get the boxers in the studio to fight with just 229 00:12:47,400 --> 00:12:50,240 Speaker 1: the promoter, and you guys could do that. Is is 230 00:12:50,360 --> 00:12:53,280 Speaker 1: that something you guys are thinking about? Smart question? And 231 00:12:53,320 --> 00:12:56,079 Speaker 1: really two parts that question. One is m m A 232 00:12:56,120 --> 00:12:59,599 Speaker 1: in general and then two is PFL specifically. So m 233 00:12:59,720 --> 00:13:01,960 Speaker 1: m A general and this applies to the UFC and 234 00:13:02,000 --> 00:13:04,600 Speaker 1: credits them what they did this past weekend. It only 235 00:13:04,640 --> 00:13:07,720 Speaker 1: takes about a hundred total people to put on an 236 00:13:07,800 --> 00:13:11,199 Speaker 1: m m A event. That's the fighters, that's the TV personnel, 237 00:13:11,559 --> 00:13:15,640 Speaker 1: that's all the people who judge it, medical, all the personnel. 238 00:13:15,800 --> 00:13:18,520 Speaker 1: So if you said, let's put on the highest quality 239 00:13:18,600 --> 00:13:20,920 Speaker 1: m m A fight in the world, a hundred total 240 00:13:21,000 --> 00:13:23,319 Speaker 1: people where there's also eight fights, so you just get 241 00:13:23,360 --> 00:13:27,120 Speaker 1: sixteen people right there, um and so that's that's very small. 242 00:13:27,480 --> 00:13:31,360 Speaker 1: That is the other smallest number. And some sports like 243 00:13:31,440 --> 00:13:34,559 Speaker 1: football takes almost five people to put on if you 244 00:13:34,600 --> 00:13:36,880 Speaker 1: have no fans. So m m A in general is 245 00:13:36,920 --> 00:13:40,520 Speaker 1: the most insulated sport for macro events and takes the 246 00:13:40,520 --> 00:13:42,760 Speaker 1: fewest number of people to put on in a safe way. 247 00:13:43,400 --> 00:13:46,839 Speaker 1: Part two is the PFL specifically if I was found 248 00:13:46,840 --> 00:13:50,400 Speaker 1: that is a made for TV media and content platform company. 249 00:13:50,880 --> 00:13:55,240 Speaker 1: So we're never about fans, even in our total business 250 00:13:55,320 --> 00:14:00,000 Speaker 1: model where fan product that's our seventh most important revenue 251 00:14:00,120 --> 00:14:04,440 Speaker 1: stream my history and American line even before that attributing company, 252 00:14:04,440 --> 00:14:08,600 Speaker 1: the broadcast and media company is about building innovative digital 253 00:14:08,880 --> 00:14:13,200 Speaker 1: broadcast and streaming content globally. So that's what we're doing 254 00:14:13,200 --> 00:14:15,560 Speaker 1: at the PFL. Like this year we have eight new 255 00:14:16,000 --> 00:14:20,560 Speaker 1: non fight series that are are viewed. We stream mobily 256 00:14:20,720 --> 00:14:23,960 Speaker 1: all of our fight content with interesting data and analytics. 257 00:14:24,000 --> 00:14:26,720 Speaker 1: Because we've wired the cage, we're gonna have profits and 258 00:14:26,880 --> 00:14:29,200 Speaker 1: gambling next year on the mobile phone. So we're all 259 00:14:29,240 --> 00:14:32,960 Speaker 1: about really the digital content and the digital fight content, 260 00:14:33,480 --> 00:14:35,520 Speaker 1: whether it's a mobile phone, whether streaming and whether it's 261 00:14:35,560 --> 00:14:39,120 Speaker 1: broadcast globally. So we're really am made for TV product 262 00:14:39,200 --> 00:14:43,080 Speaker 1: and the fans are necessary if you can get them 263 00:14:43,120 --> 00:14:45,840 Speaker 1: as an ancillary product, but it's really the TV product. 264 00:14:46,280 --> 00:14:48,160 Speaker 1: And so don what do you do in the meantime? 265 00:14:48,240 --> 00:14:50,560 Speaker 1: It sounds like you're thinking a lot about the future 266 00:14:50,800 --> 00:14:53,240 Speaker 1: of the product. But what do you need to do? 267 00:14:53,320 --> 00:14:56,520 Speaker 1: What have you done in order to you know, keep 268 00:14:56,520 --> 00:14:59,760 Speaker 1: your fighters healthy, keep them paid? I wonder like, how 269 00:14:59,800 --> 00:15:02,960 Speaker 1: does that all work in terms of keeping the enterprise 270 00:15:03,080 --> 00:15:05,640 Speaker 1: going at a time where you know, this is a 271 00:15:05,680 --> 00:15:09,880 Speaker 1: week where we're learning that thirty six million people have 272 00:15:10,040 --> 00:15:14,080 Speaker 1: filed for some sort of unemployment benefit or jobless How 273 00:15:14,120 --> 00:15:16,240 Speaker 1: are you running the business at this point? Well, first 274 00:15:16,240 --> 00:15:18,680 Speaker 1: of all, we're an entrepreneurial business. You know, we're not 275 00:15:18,800 --> 00:15:21,720 Speaker 1: a billion dollar or ten billion dollars. Just like you 276 00:15:21,720 --> 00:15:24,960 Speaker 1: know all these other sports leagues that said, we've done 277 00:15:24,960 --> 00:15:27,880 Speaker 1: something that no sports league has done. We voluntarily came 278 00:15:27,880 --> 00:15:31,400 Speaker 1: out and we created a monthly cash fitment to pay 279 00:15:31,400 --> 00:15:33,720 Speaker 1: all of our fighters on our roster. They don't have 280 00:15:33,760 --> 00:15:36,200 Speaker 1: to pay us back, it's not part of the contract, 281 00:15:36,560 --> 00:15:38,600 Speaker 1: and we did that for this season. We know that 282 00:15:38,640 --> 00:15:41,240 Speaker 1: they're going through a hardship. We're all going through a hardship, 283 00:15:41,720 --> 00:15:43,960 Speaker 1: so we're a fighter first culture. We want this to 284 00:15:43,960 --> 00:15:46,360 Speaker 1: be a place of fighters not only control their own destiny, 285 00:15:46,520 --> 00:15:48,920 Speaker 1: which they can't in other places. You have to be 286 00:15:49,000 --> 00:15:51,520 Speaker 1: given a title fight. You can't earn one, and here 287 00:15:51,640 --> 00:15:53,600 Speaker 1: you can earn one. But we also want to take 288 00:15:53,600 --> 00:15:56,080 Speaker 1: care of them. So we announced that for fighters that 289 00:15:56,320 --> 00:15:58,480 Speaker 1: even though it's modest, it's a thousand dollars a month, 290 00:15:58,600 --> 00:16:01,680 Speaker 1: you know, it's eight thousands for this year, it's something 291 00:16:02,000 --> 00:16:04,280 Speaker 1: and for a little company like us, that's a lot. 292 00:16:04,720 --> 00:16:07,080 Speaker 1: So we did that for the fighters. The second thing 293 00:16:07,080 --> 00:16:11,160 Speaker 1: we did is we're tripling down this year on innovation. 294 00:16:11,600 --> 00:16:14,480 Speaker 1: The PFL was the first one to wire the cage. 295 00:16:14,720 --> 00:16:17,440 Speaker 1: We call it the smart cage that includes chips in 296 00:16:17,440 --> 00:16:20,080 Speaker 1: the gloves of all the fighters in a film under 297 00:16:20,120 --> 00:16:23,040 Speaker 1: the mat, which captures all the fight data and the 298 00:16:23,160 --> 00:16:26,840 Speaker 1: fighter analytics and displays them on the screen. That makes 299 00:16:26,840 --> 00:16:29,640 Speaker 1: it super cool if you're a serious m M A fan, 300 00:16:29,720 --> 00:16:35,240 Speaker 1: because you see like punch, impact, pressure, heart rate, pick speed. 301 00:16:35,800 --> 00:16:37,640 Speaker 1: But if you're a new beat like maybe all of 302 00:16:37,720 --> 00:16:39,560 Speaker 1: us on the phone, and you're just used to watch 303 00:16:39,560 --> 00:16:41,800 Speaker 1: in baseball or football, you now can understand these are 304 00:16:41,840 --> 00:16:44,120 Speaker 1: fantastic athletes and get a little bit more into the 305 00:16:44,200 --> 00:16:46,680 Speaker 1: fight if it's new to you. But we're now doing 306 00:16:46,840 --> 00:16:51,320 Speaker 1: even more for next year. We will have more cagonomics, 307 00:16:51,320 --> 00:16:53,800 Speaker 1: which is the term we have for these data and analytics, 308 00:16:54,280 --> 00:16:57,040 Speaker 1: and all these will be prop that's on your mobile phone. 309 00:16:57,720 --> 00:17:01,160 Speaker 1: Will Ray Cooper the third our champion, have two punches 310 00:17:01,160 --> 00:17:04,000 Speaker 1: over thirty miles? Yes or no? You could bet on 311 00:17:04,080 --> 00:17:06,679 Speaker 1: that with a simple one click on your mobile phone 312 00:17:06,960 --> 00:17:09,879 Speaker 1: next year. So we really call it tripling down on 313 00:17:10,080 --> 00:17:13,919 Speaker 1: innovation and cagonomics. And that includes even the ref camp. 314 00:17:14,080 --> 00:17:16,840 Speaker 1: We're the first to get clearance to have a small 315 00:17:16,880 --> 00:17:19,680 Speaker 1: camera on the referee and you could look and take 316 00:17:19,720 --> 00:17:22,959 Speaker 1: that view all the time on the PFL APP So 317 00:17:23,000 --> 00:17:25,600 Speaker 1: we will take you not only inside the cage like 318 00:17:25,680 --> 00:17:28,960 Speaker 1: we did last year. Next year we'll take you inside 319 00:17:28,960 --> 00:17:31,879 Speaker 1: the locker room and we will have interviews with the 320 00:17:31,920 --> 00:17:34,879 Speaker 1: fighter before the walkout on what they need to do 321 00:17:34,920 --> 00:17:37,320 Speaker 1: to win this fight. So the PFL is not only 322 00:17:37,359 --> 00:17:42,520 Speaker 1: about innovation, but access and all the technology, the clearances, 323 00:17:43,000 --> 00:17:45,560 Speaker 1: all the getting the fighters comfortable with that. That's what 324 00:17:45,640 --> 00:17:47,600 Speaker 1: we're using this year to do is call it the 325 00:17:47,640 --> 00:17:49,840 Speaker 1: second piece of what we're doing while we're taking care 326 00:17:49,840 --> 00:17:53,320 Speaker 1: of the fighters were enhanced products of fans done. We're 327 00:17:53,359 --> 00:17:55,520 Speaker 1: so happy to have you with us, and again, it's 328 00:17:55,520 --> 00:17:57,679 Speaker 1: just a it's a feast for us to talk about 329 00:17:57,920 --> 00:17:59,840 Speaker 1: so many different things with you. I want to pick 330 00:17:59,920 --> 00:18:03,440 Speaker 1: up one something that Michael Bard just mentioned in your bio, 331 00:18:03,640 --> 00:18:06,000 Speaker 1: and that is E Sports. It feels like this is 332 00:18:06,040 --> 00:18:09,679 Speaker 1: quite a moment, uh for the East Sports League. I 333 00:18:09,760 --> 00:18:12,600 Speaker 1: was just watching This is a silly reference, maybe, but 334 00:18:12,640 --> 00:18:15,639 Speaker 1: I was just watching the season finale, series finale of 335 00:18:15,760 --> 00:18:18,960 Speaker 1: Ballers and even that, uh, you know, they moved into 336 00:18:18,960 --> 00:18:22,159 Speaker 1: the East Sports Arena. I do wonder is this a 337 00:18:22,240 --> 00:18:24,439 Speaker 1: moment for E sports. We'll look if you look at 338 00:18:24,440 --> 00:18:29,000 Speaker 1: the viewing data globally, the Legal Legends Final had more 339 00:18:29,119 --> 00:18:33,840 Speaker 1: viewers than the NBA Finals, the World Series, and it 340 00:18:33,920 --> 00:18:36,719 Speaker 1: was equal to the Super Bowl. And most of us 341 00:18:36,720 --> 00:18:38,639 Speaker 1: in the United States, certainly all of us that there 342 00:18:38,640 --> 00:18:41,760 Speaker 1: are fifties. I think that's insane because we don't know 343 00:18:41,800 --> 00:18:43,959 Speaker 1: what Legal Legends is, nor have we ever seen it. 344 00:18:44,520 --> 00:18:48,600 Speaker 1: So that tells you that in three years, the Legal Legends, 345 00:18:48,640 --> 00:18:51,439 Speaker 1: which is growing a year in viewership, which is just 346 00:18:51,600 --> 00:18:54,480 Speaker 1: one of the sports, will be the most viewed sporting 347 00:18:54,480 --> 00:18:58,800 Speaker 1: event globally, So this is really the tip of the 348 00:18:58,800 --> 00:19:02,680 Speaker 1: iceberg for e sports. The viewership will explode. The only 349 00:19:02,680 --> 00:19:05,360 Speaker 1: people really watching it on TV now like thirty years 350 00:19:05,359 --> 00:19:09,040 Speaker 1: and under. Most of them are male, and very fewer 351 00:19:09,040 --> 00:19:11,960 Speaker 1: in the United States. So you still have United States viewers, 352 00:19:12,000 --> 00:19:15,000 Speaker 1: female viewers, and over thirty viewers ago. It's already as 353 00:19:15,000 --> 00:19:17,959 Speaker 1: big as as the NBA or the World Series. So 354 00:19:18,000 --> 00:19:20,600 Speaker 1: I think, yeah, the biggest is to come for esports. 355 00:19:20,960 --> 00:19:23,440 Speaker 1: You're talking about the viewership right now that there are 356 00:19:23,480 --> 00:19:27,520 Speaker 1: people the main audience is thirty and under. Well, I've 357 00:19:27,560 --> 00:19:30,760 Speaker 1: got a head full of gray hair and and and 358 00:19:30,800 --> 00:19:33,360 Speaker 1: a geezer, And I got to relate the story real 359 00:19:33,440 --> 00:19:36,160 Speaker 1: quick about my my fifteen year old son. He's playing 360 00:19:36,280 --> 00:19:39,560 Speaker 1: Rocket League and I'm sitting there and I'm in the chair, 361 00:19:39,640 --> 00:19:42,679 Speaker 1: and he's playing with his buddies, and he is on 362 00:19:42,720 --> 00:19:46,800 Speaker 1: an e sports team with his high school and they're practicing, 363 00:19:47,040 --> 00:19:50,280 Speaker 1: and he he had a moment where he's like, oh, no, 364 00:19:50,359 --> 00:19:53,280 Speaker 1: I missed getting the goal. And I'm like, oh, John, 365 00:19:53,359 --> 00:19:58,800 Speaker 1: know what happened? And I realized I am enthralled in 366 00:19:58,920 --> 00:20:04,720 Speaker 1: watching him. And I think as we get along in society, 367 00:20:05,000 --> 00:20:07,919 Speaker 1: the geezers like me, well like to watch that, so 368 00:20:08,119 --> 00:20:10,639 Speaker 1: let me have your thoughts about that. The Dota two, 369 00:20:10,680 --> 00:20:12,560 Speaker 1: which is one of the games. You know, it's interesting 370 00:20:12,640 --> 00:20:16,560 Speaker 1: like we have you know, football, baseball, hockey, soccer, there's 371 00:20:16,600 --> 00:20:18,320 Speaker 1: the sports. E sports is not one sport. You know, 372 00:20:18,320 --> 00:20:20,920 Speaker 1: you got Legal Legends, Dota two overwatch, it's kind of 373 00:20:21,080 --> 00:20:22,959 Speaker 1: it's kind of like that. And Team Liquid plays all 374 00:20:23,000 --> 00:20:25,480 Speaker 1: the sports, right, it's the uber team. So Dota two 375 00:20:25,560 --> 00:20:27,600 Speaker 1: is one of the bigger sports. And the Dota two 376 00:20:27,640 --> 00:20:32,080 Speaker 1: International there are sixty thousand people watching eight little teeny 377 00:20:32,119 --> 00:20:35,720 Speaker 1: people playing right in the arena. Um and it's broadcast 378 00:20:35,760 --> 00:20:38,920 Speaker 1: on huge screens and it's a spectacle. So people love 379 00:20:39,119 --> 00:20:43,720 Speaker 1: to watch people play, and um will older people love that. 380 00:20:44,280 --> 00:20:46,639 Speaker 1: I'm sure over time. But I gotta tell you, I 381 00:20:47,119 --> 00:20:50,840 Speaker 1: don't even know the positions. You know, there's a laner, 382 00:20:50,960 --> 00:20:53,520 Speaker 1: there's a juggler, right, you know, I think it will 383 00:20:53,600 --> 00:20:55,680 Speaker 1: take a while and then you see the pixels move 384 00:20:55,720 --> 00:20:58,000 Speaker 1: on the screen and somebody ambers somebody, But what are 385 00:20:58,040 --> 00:21:00,399 Speaker 1: the moves or other's We all come to know at 386 00:21:00,480 --> 00:21:03,919 Speaker 1: least a little bit, what's a good touch, what's a 387 00:21:03,960 --> 00:21:07,600 Speaker 1: good pass? And hockey, right, what's a good double play. 388 00:21:07,760 --> 00:21:10,240 Speaker 1: I think it takes a long time for older people 389 00:21:10,280 --> 00:21:13,720 Speaker 1: who do not play the games to even appreciate the moves. 390 00:21:13,760 --> 00:21:15,560 Speaker 1: So yes, I think the sport will get a little 391 00:21:15,600 --> 00:21:17,760 Speaker 1: bit older and I have to goill take a while. 392 00:21:18,160 --> 00:21:20,080 Speaker 1: But I don't even think that really matters because there's 393 00:21:20,080 --> 00:21:22,800 Speaker 1: a lot of rooms still for it to explode. So 394 00:21:22,880 --> 00:21:26,440 Speaker 1: done are the franchise values growing in the sports? Help 395 00:21:26,520 --> 00:21:29,600 Speaker 1: us understand it from the business perspective? Yeah, Look, typical 396 00:21:29,600 --> 00:21:32,560 Speaker 1: sports teams are valued about eight times revenue, so called 397 00:21:32,600 --> 00:21:35,200 Speaker 1: a football team and baseball team, and the growth rate 398 00:21:35,280 --> 00:21:39,639 Speaker 1: is single digits the most the sports growth rates right 399 00:21:39,640 --> 00:21:42,520 Speaker 1: now in terms of revenue, they're growing about and their 400 00:21:42,600 --> 00:21:46,160 Speaker 1: multiples are about twelve tons rabino. So when we invested 401 00:21:46,160 --> 00:21:48,760 Speaker 1: in Team Liquid, we bought plums six percent of PEM 402 00:21:48,840 --> 00:21:52,080 Speaker 1: for about the fifteen million dollars, and the teams now 403 00:21:52,280 --> 00:21:55,280 Speaker 1: valued by Forbes, you know, about three fifty million dollars, 404 00:21:55,320 --> 00:21:58,639 Speaker 1: and that's because the revenue has grown proportionally. Most of 405 00:21:58,640 --> 00:22:02,680 Speaker 1: that revenue comes from sponsor shift advertising, and you guys 406 00:22:02,800 --> 00:22:07,720 Speaker 1: love this watching players practice to remember of the Allen 407 00:22:07,800 --> 00:22:15,280 Speaker 1: Iverson practice. One of our bigger revenue streams is Twitch 408 00:22:15,800 --> 00:22:19,400 Speaker 1: pays Team Liquid so that fans can watch Team Liquids 409 00:22:19,400 --> 00:22:23,800 Speaker 1: players practice huge revenue stream. People love to see the 410 00:22:23,840 --> 00:22:27,040 Speaker 1: best of the world practice. If Alan Iverson was only 411 00:22:27,080 --> 00:22:29,359 Speaker 1: playing today and can get money watching the practice, you 412 00:22:29,440 --> 00:22:32,520 Speaker 1: probably practice more so. UM. But yeah, the values have 413 00:22:32,640 --> 00:22:36,000 Speaker 1: exploded because the revenue is growing fifty percent a year 414 00:22:36,000 --> 00:22:37,960 Speaker 1: and they're getting a very high multiple on that revenue 415 00:22:38,000 --> 00:22:41,800 Speaker 1: because of future growth. And so have you seen sort 416 00:22:41,840 --> 00:22:45,320 Speaker 1: of different types of investors come into this. I wonder 417 00:22:45,359 --> 00:22:49,080 Speaker 1: how that expands as people see opportunities, and you know, 418 00:22:49,119 --> 00:22:52,680 Speaker 1: I think about and you've watched this probably much more closely, 419 00:22:52,960 --> 00:22:54,840 Speaker 1: uh than I have, but you think about sort of 420 00:22:54,880 --> 00:22:59,400 Speaker 1: the owner shift shifts, ownership shifts pardon me that you've 421 00:22:59,440 --> 00:23:02,560 Speaker 1: seen across the other major sports. You know, you've got 422 00:23:02,560 --> 00:23:05,480 Speaker 1: a lot of private equity investors like yourself who've gotten 423 00:23:05,480 --> 00:23:08,920 Speaker 1: involved in the NBA and Major League Soccer and even 424 00:23:09,080 --> 00:23:12,800 Speaker 1: baseball lesso in football. What have you seen in terms 425 00:23:12,800 --> 00:23:16,399 Speaker 1: of the type of investor who's attracted to the sports? Um? 426 00:23:16,440 --> 00:23:18,600 Speaker 1: You know, I think the sports people you know have 427 00:23:18,760 --> 00:23:22,000 Speaker 1: tended to um, you know, put in a modest amount 428 00:23:22,000 --> 00:23:25,240 Speaker 1: of money. Um. They think these team values could be 429 00:23:25,280 --> 00:23:30,080 Speaker 1: worth three four million, UM, you know, but I think 430 00:23:30,080 --> 00:23:32,760 Speaker 1: where the bigger money has been UM. I have almost 431 00:23:32,840 --> 00:23:36,359 Speaker 1: eight sports team owners as investors in the Professional Fighters League, 432 00:23:36,880 --> 00:23:41,240 Speaker 1: UM ten billionaires as investors in the Professional Fighters Fighters League, 433 00:23:41,280 --> 00:23:44,480 Speaker 1: and they range from people like Mark Burnett, Jimmy Iving, 434 00:23:44,560 --> 00:23:49,440 Speaker 1: Tony Robbins too, Pen Leonsis and and Mark Lerner in 435 00:23:49,840 --> 00:23:51,960 Speaker 1: sports side. And I think what they've all seen in 436 00:23:52,000 --> 00:23:56,959 Speaker 1: the Professional Fighters League is UFC has worked six billion 437 00:23:57,040 --> 00:24:00,920 Speaker 1: dollars and there's three hundred million them a fans and 438 00:24:01,080 --> 00:24:04,480 Speaker 1: UFC puts on thirty events a year. There's no clear 439 00:24:04,560 --> 00:24:09,600 Speaker 1: number two. But there are ten soccer leagues around the world, 440 00:24:10,359 --> 00:24:13,399 Speaker 1: and there's ten soccer leagues are worth one hundred billion 441 00:24:13,400 --> 00:24:17,680 Speaker 1: dollars combined, and so m m A is like soccer 442 00:24:17,920 --> 00:24:21,840 Speaker 1: a global audience. But there's no even number two, let 443 00:24:21,840 --> 00:24:24,399 Speaker 1: alone number three or number four and mm A And 444 00:24:24,440 --> 00:24:27,080 Speaker 1: if you think about the demand, there's six thousand basketball 445 00:24:27,119 --> 00:24:30,320 Speaker 1: games a year, there's four thousand soccer matches, but there's 446 00:24:30,400 --> 00:24:33,360 Speaker 1: thirty m m A events and there's only one company 447 00:24:33,359 --> 00:24:36,119 Speaker 1: providing it. And that one company's were six billions and 448 00:24:36,119 --> 00:24:38,960 Speaker 1: there's no number two. So that's where I think the 449 00:24:39,280 --> 00:24:42,960 Speaker 1: huge called billions of dollars, not hundreds of millions of dollars, 450 00:24:43,040 --> 00:24:44,840 Speaker 1: is going to be made in the m M m 451 00:24:44,880 --> 00:24:47,520 Speaker 1: A side and the Professional Fighters League side. And that's 452 00:24:47,560 --> 00:24:50,160 Speaker 1: I think where the bigger money so far, my judgment 453 00:24:50,160 --> 00:24:52,640 Speaker 1: has come. Then a similar track for E sports. You think, 454 00:24:53,480 --> 00:24:55,320 Speaker 1: I think the sports is going to be more modest. 455 00:24:55,359 --> 00:25:00,000 Speaker 1: And why do I say that? Um, the game League 456 00:25:00,160 --> 00:25:04,760 Speaker 1: Legends right is owned by ten cent owns Right Games. 457 00:25:04,920 --> 00:25:08,640 Speaker 1: They get most of the money. The distribution Twitch gets 458 00:25:08,640 --> 00:25:12,000 Speaker 1: the second most amount of money. So therefore the two 459 00:25:12,000 --> 00:25:15,600 Speaker 1: biggest revenue streams in the sports are owned by someone else. 460 00:25:16,520 --> 00:25:19,720 Speaker 1: There's no league, and the teams do not participate in that. 461 00:25:20,040 --> 00:25:23,679 Speaker 1: They participate in the fourth, fifth, sixth, and seventh biggest 462 00:25:23,680 --> 00:25:27,440 Speaker 1: revenue streams. But in Professional Fighters League all eight revenue 463 00:25:27,440 --> 00:25:31,400 Speaker 1: streams of the NBA are the revenue streams of the PFL. 464 00:25:32,200 --> 00:25:35,600 Speaker 1: So investing in the PFL now is like investing in 465 00:25:35,640 --> 00:25:38,280 Speaker 1: owning the NBA in the seventies. You get all eight 466 00:25:38,280 --> 00:25:40,840 Speaker 1: revenue streams. You get them from their nascent growth period 467 00:25:41,000 --> 00:25:43,840 Speaker 1: all the way through their explosive growth period. And if 468 00:25:43,880 --> 00:25:47,080 Speaker 1: you invest in the sports now, the first, second, third 469 00:25:47,160 --> 00:25:53,000 Speaker 1: biggest streams right, media, intellectual property distribution. You don't get 470 00:25:53,040 --> 00:25:55,880 Speaker 1: those those are owned by something else. Don We've seen 471 00:25:55,880 --> 00:25:59,280 Speaker 1: a lot of niche sports in the X Games somehow 472 00:25:59,320 --> 00:26:01,760 Speaker 1: trickle their way into the Olympics. Is this a goal 473 00:26:01,880 --> 00:26:06,160 Speaker 1: for M M A to someday be an Olympic sport? Well? 474 00:26:06,400 --> 00:26:08,960 Speaker 1: As many listeners may not know, five of the six 475 00:26:09,000 --> 00:26:10,840 Speaker 1: disciplines that make up M M A are already in 476 00:26:10,880 --> 00:26:15,880 Speaker 1: the Olympics. Wrestling, judo, boxing, UM. M M A will 477 00:26:15,920 --> 00:26:19,480 Speaker 1: be in the Olympics in l A. UM, there's already 478 00:26:19,480 --> 00:26:22,040 Speaker 1: talked among the Olympic committee. It's already the final stages 479 00:26:22,080 --> 00:26:27,600 Speaker 1: of evaluation. UM. I mean seven cents will be an Olympics. Um. Like. 480 00:26:27,640 --> 00:26:30,160 Speaker 1: There's two reasons for that. UM one, it's a super 481 00:26:30,160 --> 00:26:33,960 Speaker 1: exciting sports. Uh. In number two, UM, they're trying to 482 00:26:33,960 --> 00:26:37,720 Speaker 1: look for younger viewers for the Olympics, and as we 483 00:26:37,800 --> 00:26:41,960 Speaker 1: talked about earlier, younger viewers globally watch M M A. UM. 484 00:26:42,000 --> 00:26:46,080 Speaker 1: So it's already got the disciplines, but the disciplines are 485 00:26:46,160 --> 00:26:47,920 Speaker 1: very niche and M A is very mass So I 486 00:26:47,960 --> 00:26:51,480 Speaker 1: think you will see in Over the years, we've seen 487 00:26:51,840 --> 00:26:55,520 Speaker 1: mergers competing leagues, merge or one league just seems to 488 00:26:55,520 --> 00:26:59,040 Speaker 1: go away a f L, NFL, wh A National Hockey League, 489 00:26:59,520 --> 00:27:02,160 Speaker 1: the A v A in the NBA. Do you ever 490 00:27:02,200 --> 00:27:04,560 Speaker 1: foresee a time when the professional fighters league in the 491 00:27:04,680 --> 00:27:08,119 Speaker 1: UFC would get together and become one entity. Yeah, I 492 00:27:08,160 --> 00:27:10,600 Speaker 1: don't think so, and that's not our goal at the PFL. 493 00:27:11,520 --> 00:27:15,320 Speaker 1: Fans need and want more m m A great fights. 494 00:27:15,400 --> 00:27:18,760 Speaker 1: As I mentioned the previous segment, six thousand basketball games, 495 00:27:18,760 --> 00:27:21,560 Speaker 1: but only thirty mm A fights worldwide at the highest level, 496 00:27:21,880 --> 00:27:24,119 Speaker 1: where there's a lot of little regional promotions, just like 497 00:27:24,160 --> 00:27:27,040 Speaker 1: their single A baseball teams, but at the major major 498 00:27:27,119 --> 00:27:31,560 Speaker 1: league level there's only UFC um UFC, you know, now 499 00:27:31,600 --> 00:27:34,639 Speaker 1: has nineteen percent of its roster that our top twenty 500 00:27:34,640 --> 00:27:37,679 Speaker 1: fighters in the world. The PFL has fourteen percent of 501 00:27:37,680 --> 00:27:39,960 Speaker 1: its roster that our top twenty fighters in the world. 502 00:27:40,320 --> 00:27:42,720 Speaker 1: So we're in The UFC brand is well known because 503 00:27:42,720 --> 00:27:45,480 Speaker 1: they've been around twenty six years. The PFL brand is 504 00:27:45,480 --> 00:27:48,120 Speaker 1: still in kindergarten. We recognize that we've only been around 505 00:27:48,119 --> 00:27:51,359 Speaker 1: two years, but our fighter roster is great, our fights 506 00:27:51,359 --> 00:27:54,359 Speaker 1: are as exciting, and our brand is growing and we 507 00:27:54,480 --> 00:27:57,600 Speaker 1: offer a different product. You know that meritocracy and transparency 508 00:27:57,640 --> 00:28:00,160 Speaker 1: of the of the sports season format, So I think 509 00:28:00,200 --> 00:28:02,400 Speaker 1: will continue to be an alternative. I think it's more 510 00:28:02,440 --> 00:28:06,359 Speaker 1: like the PFL is maybe Netflix, and UFC is maybe Blockbusters. 511 00:28:06,359 --> 00:28:09,000 Speaker 1: They're just two different approaches and uh, and we just 512 00:28:09,040 --> 00:28:11,040 Speaker 1: want to get fans in alternatives. What they do is great, 513 00:28:11,080 --> 00:28:12,880 Speaker 1: but what we think what we do is great. It's 514 00:28:12,920 --> 00:28:15,399 Speaker 1: just an alternative. Well, we know what happened with Blockbuster, 515 00:28:15,480 --> 00:28:19,440 Speaker 1: don't we done? It took a decade. Also, that one's 516 00:28:19,720 --> 00:28:23,080 Speaker 1: hard work. This one, I'm going to bring this up 517 00:28:23,080 --> 00:28:26,960 Speaker 1: and is a lot more serious. Uh. Teams like the 518 00:28:27,000 --> 00:28:31,320 Speaker 1: Miami Marlins, there rumors going around and reports that they're 519 00:28:31,359 --> 00:28:36,960 Speaker 1: going to furlough up to of their operational staff, obviously 520 00:28:37,040 --> 00:28:40,880 Speaker 1: because of the coronavirus pandemic. Have it seems like you 521 00:28:40,920 --> 00:28:45,600 Speaker 1: guys have avoided something like that because of the nature 522 00:28:45,720 --> 00:28:48,280 Speaker 1: of your sport and the business model and how things 523 00:28:48,280 --> 00:28:50,880 Speaker 1: are made up. Can you comment on that? Yeah? Sure, Look, 524 00:28:50,960 --> 00:28:54,240 Speaker 1: the PFL is an entrepreneur a company, um and you 525 00:28:54,280 --> 00:28:57,720 Speaker 1: know we all took pay cuts. Uh. Look, I myself 526 00:28:57,760 --> 00:29:00,000 Speaker 1: take no salary as a founder and chairman, I've always 527 00:29:00,000 --> 00:29:03,320 Speaker 1: taken no salary building this company. Um. Like our staff 528 00:29:03,800 --> 00:29:06,400 Speaker 1: is very lean and they've all taken pay cuts to 529 00:29:06,480 --> 00:29:09,640 Speaker 1: do this. Um so, we really take care of our fighters, 530 00:29:09,880 --> 00:29:12,680 Speaker 1: that's where we put our money, but are our staff 531 00:29:12,800 --> 00:29:15,120 Speaker 1: We've all been been very tight and very scrappy building 532 00:29:15,240 --> 00:29:19,440 Speaker 1: company done. As an investor, how do you look at 533 00:29:19,520 --> 00:29:24,320 Speaker 1: this landscape, especially when it comes to sports and media. 534 00:29:24,480 --> 00:29:28,720 Speaker 1: You have had experience across all of these different leagues, 535 00:29:28,760 --> 00:29:32,400 Speaker 1: and you even your history, your career goes even back 536 00:29:32,440 --> 00:29:35,600 Speaker 1: to working as a lawyer for the Chicago Cubs, working 537 00:29:35,640 --> 00:29:38,520 Speaker 1: for the as the lawyer for the Chicago Cubs. I 538 00:29:38,600 --> 00:29:42,120 Speaker 1: do wonder as you look across the sports landscape, where 539 00:29:42,120 --> 00:29:45,240 Speaker 1: do you invest? Right now? Where do you go next? Yeah? 540 00:29:45,280 --> 00:29:47,920 Speaker 1: I finally did Sammy sos his first contract for him. 541 00:29:48,160 --> 00:29:50,360 Speaker 1: I remember it well. You know, after Sammy had his 542 00:29:50,440 --> 00:29:52,640 Speaker 1: thirty thirty year I was looking to get paid in 543 00:29:52,640 --> 00:29:56,360 Speaker 1: the good old Shelby days. Um So, where I would 544 00:29:56,360 --> 00:30:00,640 Speaker 1: invest in sports is the same place I invest um 545 00:30:00,920 --> 00:30:04,640 Speaker 1: it revolution or or most people invest growth. Where is 546 00:30:04,760 --> 00:30:08,880 Speaker 1: their growth? That's the first question. The second question always 547 00:30:08,960 --> 00:30:13,720 Speaker 1: is global? What is global? And then the third question 548 00:30:13,840 --> 00:30:19,920 Speaker 1: is always innovation? What is using technology for innovation? Because 549 00:30:19,920 --> 00:30:23,640 Speaker 1: if you look for growth, global and innovation, you have 550 00:30:23,800 --> 00:30:27,880 Speaker 1: got all those major trends driving your product and business model. 551 00:30:28,920 --> 00:30:31,120 Speaker 1: That's why I put not only my time and my 552 00:30:31,240 --> 00:30:34,720 Speaker 1: money and all of our effort against PFL because it 553 00:30:34,760 --> 00:30:38,280 Speaker 1: has the growth, the global and the innovation in sport. 554 00:30:38,840 --> 00:30:41,280 Speaker 1: Nobody else has those call it big three all going 555 00:30:41,360 --> 00:30:43,520 Speaker 1: for him. Um So, that's why I believe, you know, 556 00:30:43,640 --> 00:30:46,800 Speaker 1: m m A is the core sport holding to make 557 00:30:46,960 --> 00:30:50,440 Speaker 1: money in the next decade. I did not get into 558 00:30:50,440 --> 00:30:53,040 Speaker 1: this as a passion play or as a hobby. Um. 559 00:30:53,080 --> 00:30:55,800 Speaker 1: I got into this as a core investment theme that 560 00:30:55,880 --> 00:31:00,040 Speaker 1: I thought was explosive. A lot of Draft Kings in 561 00:31:00,120 --> 00:31:03,320 Speaker 1: public about three weeks ago, and the NBA has invested 562 00:31:03,320 --> 00:31:07,320 Speaker 1: in them. Jerry Jones, Robert Kraft, Madison Square Garden Corporation, 563 00:31:07,400 --> 00:31:10,520 Speaker 1: the Golan family. Have you invested with DraftKings and do 564 00:31:10,560 --> 00:31:13,080 Speaker 1: you see that as a source of a revenue stream 565 00:31:13,200 --> 00:31:16,880 Speaker 1: for your league? Um? Revolution, We were a big investor 566 00:31:16,960 --> 00:31:21,040 Speaker 1: in Draft Kings and also my partner Revolution has been 567 00:31:21,160 --> 00:31:23,920 Speaker 1: a core board member. So yes, we've been in DraftKings 568 00:31:24,040 --> 00:31:26,240 Speaker 1: for a very long time. We're a big support and 569 00:31:26,240 --> 00:31:28,240 Speaker 1: big believer in Draft Kings. Um. You know, in my 570 00:31:28,320 --> 00:31:31,680 Speaker 1: role as a founding partner, Revolution absolutely, um So we 571 00:31:31,720 --> 00:31:35,800 Speaker 1: think DraftKings is a fantastic company. Um PFL is a 572 00:31:35,880 --> 00:31:39,200 Speaker 1: partner with DraftKings. We've done fantasy games with them. In fact, 573 00:31:39,200 --> 00:31:42,400 Speaker 1: the PFL two thousand nineteen Championship, where you could pick 574 00:31:42,440 --> 00:31:46,680 Speaker 1: six pick the six winners, was the second most MMY 575 00:31:46,800 --> 00:31:51,280 Speaker 1: played fantasy game after Mayweather McGregor. So think of that. 576 00:31:51,400 --> 00:31:53,600 Speaker 1: You know, the PFL once again not a well known 577 00:31:53,640 --> 00:31:56,640 Speaker 1: brand yet in ours, it's the second most popular fantasy 578 00:31:56,680 --> 00:31:58,960 Speaker 1: day lever. So we will be doing as I said, 579 00:31:59,000 --> 00:32:02,760 Speaker 1: real Tom Gamble. We're talking with Draft Kings, but we're 580 00:32:02,760 --> 00:32:07,200 Speaker 1: also talking with the major global gaming companies, whether the 581 00:32:07,320 --> 00:32:10,640 Speaker 1: Caesar's or MGM or three. We haven't chosen our partner 582 00:32:10,720 --> 00:32:13,160 Speaker 1: yet on the gambling side, but DraftKings has been a 583 00:32:13,200 --> 00:32:16,160 Speaker 1: major fantasy partner of bars and we love that company. 584 00:32:16,360 --> 00:32:17,920 Speaker 1: Let me have one and more about that. When you 585 00:32:17,960 --> 00:32:21,480 Speaker 1: talk about DraftKings and online gambling in general, and I 586 00:32:21,520 --> 00:32:25,880 Speaker 1: know it has has been the basic question ever since 587 00:32:25,920 --> 00:32:28,680 Speaker 1: the States approved it, but where do you see the 588 00:32:28,720 --> 00:32:31,480 Speaker 1: future of online gambling going. I mean, right now it's 589 00:32:31,480 --> 00:32:34,720 Speaker 1: in several states, and eventually it's going to be like 590 00:32:34,840 --> 00:32:37,360 Speaker 1: the lottery. Pretty much all the states are going to 591 00:32:37,400 --> 00:32:40,520 Speaker 1: have it. Uh, at least that's my opinion. Anyway, what 592 00:32:40,560 --> 00:32:44,800 Speaker 1: do you think about it? Look sadly, the history of 593 00:32:44,880 --> 00:32:49,360 Speaker 1: states is they need more revenue and they spend more, 594 00:32:49,600 --> 00:32:53,560 Speaker 1: and therefore they need more revenue, and so gambling is 595 00:32:53,560 --> 00:32:56,040 Speaker 1: a source of state revenue. So I think all the 596 00:32:56,040 --> 00:32:58,320 Speaker 1: states will approve it, and they will all tax it, 597 00:32:58,440 --> 00:33:00,520 Speaker 1: and they will use it to get more revenue. So 598 00:33:00,560 --> 00:33:03,360 Speaker 1: I think that trend is historically proven and that will happen. 599 00:33:03,960 --> 00:33:06,760 Speaker 1: So then the question is what will be the consumer 600 00:33:06,880 --> 00:33:11,000 Speaker 1: offerings and what companies will win? Um. My history and 601 00:33:11,200 --> 00:33:14,360 Speaker 1: building companies back to a o L is the companies 602 00:33:14,400 --> 00:33:18,960 Speaker 1: that offer the most fun and the most simple products 603 00:33:19,120 --> 00:33:23,760 Speaker 1: tend to win. UM. So I don't think it's about complexity. 604 00:33:24,240 --> 00:33:27,520 Speaker 1: I think it's about simplicity. So what's one click bets? 605 00:33:28,680 --> 00:33:31,560 Speaker 1: What is the simplest and most fun game. I think 606 00:33:31,600 --> 00:33:33,600 Speaker 1: a lot of people are still talking about, you know, 607 00:33:33,640 --> 00:33:36,560 Speaker 1: how do you have your Bloomberg terminal of data? Right? 608 00:33:37,040 --> 00:33:42,080 Speaker 1: This is thrown around a lot. Traders love that, gamblers 609 00:33:42,120 --> 00:33:47,000 Speaker 1: love that. But what consumers love it's simple, easy fun. 610 00:33:47,280 --> 00:33:49,520 Speaker 1: And so I think the companies that do simple, easy 611 00:33:49,560 --> 00:33:52,760 Speaker 1: fund bets are going to explode in terms of users 612 00:33:52,960 --> 00:33:57,000 Speaker 1: and revenue. And so done as you look across the 613 00:33:57,040 --> 00:34:00,160 Speaker 1: sports landscape and you figure out kind of where we are. 614 00:34:00,200 --> 00:34:04,040 Speaker 1: You guys have made your decision with the PFL about 615 00:34:04,120 --> 00:34:07,880 Speaker 1: essentially just postponing until next year. So much talk. You 616 00:34:07,920 --> 00:34:11,680 Speaker 1: know all these sports very well. What's your prediction for 617 00:34:11,760 --> 00:34:14,799 Speaker 1: what we see for the balance of when it comes 618 00:34:14,800 --> 00:34:19,279 Speaker 1: to the major sports leagues. Yeah, I remember from high 619 00:34:19,280 --> 00:34:22,839 Speaker 1: school that Newton's law first law motion right, Things at 620 00:34:22,840 --> 00:34:24,919 Speaker 1: rest tend to stay at rest, Things in motion tends 621 00:34:24,920 --> 00:34:27,440 Speaker 1: to stay in motion. I think we all want to 622 00:34:27,440 --> 00:34:30,440 Speaker 1: get back, um to work in the play in the 623 00:34:30,520 --> 00:34:33,880 Speaker 1: sports today due to this virus. But I think the 624 00:34:33,960 --> 00:34:36,319 Speaker 1: reality is while the summer will be a little bit better, 625 00:34:36,360 --> 00:34:38,400 Speaker 1: the fall will be a little bit worse. And so 626 00:34:38,440 --> 00:34:40,520 Speaker 1: I think what we have to assume as things in 627 00:34:40,640 --> 00:34:45,760 Speaker 1: motion will stay in motion. What do I mean by that, Um, 628 00:34:45,760 --> 00:34:48,640 Speaker 1: it's very hard to set a schedule, It's very hard 629 00:34:48,640 --> 00:34:52,240 Speaker 1: to plan. Those plans will move, those plans will get upset, 630 00:34:52,480 --> 00:34:55,040 Speaker 1: and then they will have to be rescheduled again. So 631 00:34:55,080 --> 00:34:57,319 Speaker 1: I think you'll see seasons like the NHL and the 632 00:34:57,400 --> 00:35:02,000 Speaker 1: NBA that we're started. Um, they'll try to finish and 633 00:35:02,000 --> 00:35:04,799 Speaker 1: then they'll try to finish again. They'll plan a new 634 00:35:04,840 --> 00:35:07,160 Speaker 1: season to start. Then they'll have to plan a new 635 00:35:07,160 --> 00:35:10,600 Speaker 1: season to start again. So I think, um, the NFL 636 00:35:10,600 --> 00:35:12,560 Speaker 1: will have one plan, then they'll have a new plan. 637 00:35:12,800 --> 00:35:15,759 Speaker 1: College football will have Plan A, then they'll go to 638 00:35:15,760 --> 00:35:18,960 Speaker 1: Plan B and C. So everybody will try to get 639 00:35:18,960 --> 00:35:21,960 Speaker 1: back to work, back to play, back to sports, but 640 00:35:22,040 --> 00:35:24,600 Speaker 1: they'll have to keep running through iterations. They'll have to 641 00:35:24,680 --> 00:35:27,600 Speaker 1: keep making new plans and things will stay in motion. 642 00:35:27,840 --> 00:35:30,880 Speaker 1: So I think you'll see things get messy, messy and messy. 643 00:35:31,040 --> 00:35:34,040 Speaker 1: But you know, we're all Americans, not Americans. We're going 644 00:35:34,120 --> 00:35:36,600 Speaker 1: to get it done. Um. But but I think everybody 645 00:35:36,640 --> 00:35:38,560 Speaker 1: telling you that they have things with certainty or things 646 00:35:38,560 --> 00:35:41,000 Speaker 1: going to happen this way, I don't think that's how 647 00:35:41,000 --> 00:35:43,600 Speaker 1: it's gonna be. Don The Governor de Santis down in 648 00:35:43,640 --> 00:35:45,839 Speaker 1: Florida said they're open for business and if you will 649 00:35:45,880 --> 00:35:47,719 Speaker 1: like to want to compete, we'll find a place for 650 00:35:47,760 --> 00:35:49,920 Speaker 1: you in the state were you attempted at all, just 651 00:35:50,000 --> 00:35:52,200 Speaker 1: even for one second to take them up on that 652 00:35:52,280 --> 00:35:54,640 Speaker 1: offer and maybe just change your mind and and and 653 00:35:54,719 --> 00:35:58,399 Speaker 1: get everybody back get competing. Look, I always look through 654 00:35:58,440 --> 00:36:01,520 Speaker 1: all options, all of arnives. But there's two things for 655 00:36:01,600 --> 00:36:07,239 Speaker 1: the PFLUM. Remember one, we have this integrity of the season. Um. 656 00:36:07,400 --> 00:36:08,920 Speaker 1: It's not just how you put on one or two 657 00:36:09,000 --> 00:36:11,600 Speaker 1: or three fights to make money. Um, that's not an 658 00:36:11,600 --> 00:36:15,080 Speaker 1: integrity of a season. Um. And so to do a season, 659 00:36:15,560 --> 00:36:18,520 Speaker 1: you've got to have fighters some twenty five countries be 660 00:36:18,560 --> 00:36:21,960 Speaker 1: able to travel and train and it compete in a 661 00:36:21,960 --> 00:36:25,560 Speaker 1: full season. So that's not possible. Back to the how 662 00:36:25,600 --> 00:36:28,560 Speaker 1: I just answered the question, that's not possible. So we 663 00:36:28,600 --> 00:36:30,640 Speaker 1: don't want to have a truncated season. We don't want 664 00:36:30,640 --> 00:36:32,160 Speaker 1: to have a fake season. We don't want to just 665 00:36:32,200 --> 00:36:35,040 Speaker 1: have two or three one off fights. So that wasn't possible. 666 00:36:35,040 --> 00:36:37,839 Speaker 1: Whether it's Florida or whether it's Fight Island, those are 667 00:36:37,920 --> 00:36:41,600 Speaker 1: isolated events that are that are great entertainment products. But 668 00:36:41,680 --> 00:36:45,280 Speaker 1: it's not an NBA season, it's not a PFL season. Um. 669 00:36:45,440 --> 00:36:47,040 Speaker 1: We think the first time you can have a full 670 00:36:47,040 --> 00:36:49,759 Speaker 1: season or fighter some twenty five countries can travel and 671 00:36:49,840 --> 00:36:54,440 Speaker 1: train with safety and wellness spring. Don David's co founder 672 00:36:54,440 --> 00:36:57,760 Speaker 1: and chairman of the Professional Fighters League, as Bobby Brady 673 00:36:57,760 --> 00:37:00,440 Speaker 1: would say, need oh man, I'm so glad could come 674 00:37:00,440 --> 00:37:03,080 Speaker 1: and join us. Thank you sir for talking with us 675 00:37:03,080 --> 00:37:06,000 Speaker 1: on the Bloomberg business of sports. I'm telling you, I'm 676 00:37:06,000 --> 00:37:09,600 Speaker 1: an old dude, and I was watching my son playing 677 00:37:09,760 --> 00:37:14,480 Speaker 1: E sports and eventually that thirty and younger audience is 678 00:37:14,560 --> 00:37:18,240 Speaker 1: going to grow and and Non confirmed what I was thinking. 679 00:37:18,320 --> 00:37:21,200 Speaker 1: One day it's going to happen. Look, if we can 680 00:37:21,280 --> 00:37:25,480 Speaker 1: watch championship bridge back in the late fifties and early sixties, 681 00:37:25,800 --> 00:37:30,239 Speaker 1: we sure can watch the sports well cannon should are 682 00:37:30,280 --> 00:37:33,319 Speaker 1: two different things, I think, and we can leave that 683 00:37:33,880 --> 00:37:36,520 Speaker 1: for another day. I mean, listen, what I really took 684 00:37:36,560 --> 00:37:39,840 Speaker 1: away from that conversation, and I think the sports pieces 685 00:37:40,120 --> 00:37:43,080 Speaker 1: is a great example. And the PFL is that this 686 00:37:43,120 --> 00:37:47,080 Speaker 1: is a guy who's spent an entire career looking around corners, right. 687 00:37:47,120 --> 00:37:50,000 Speaker 1: I mean, you think about a O L. And while 688 00:37:50,120 --> 00:37:53,240 Speaker 1: a O L has obviously in many ways gone by 689 00:37:53,360 --> 00:37:59,280 Speaker 1: the wayside, they ushered in an entirely new era of communication. 690 00:37:59,480 --> 00:38:03,040 Speaker 1: And I us think you have to watch investors and 691 00:38:03,719 --> 00:38:07,600 Speaker 1: operators like this guy to get a sense of where 692 00:38:07,640 --> 00:38:10,160 Speaker 1: folks like that are thinking. And and Mike Lynch, I 693 00:38:10,200 --> 00:38:14,080 Speaker 1: have to say his roster of his compadres who were 694 00:38:14,120 --> 00:38:18,160 Speaker 1: invested in PFL. Those are some names I've heard. I've 695 00:38:18,160 --> 00:38:20,160 Speaker 1: heard a few of those names too. What I what 696 00:38:20,239 --> 00:38:22,640 Speaker 1: I took away from this was I'm trying to find 697 00:38:22,640 --> 00:38:25,240 Speaker 1: a reason for me to watch M M A. And 698 00:38:25,480 --> 00:38:29,160 Speaker 1: I think back to NASCAR when I got hooked on NASCAR, 699 00:38:29,200 --> 00:38:31,640 Speaker 1: when there were cameras in the in the in the 700 00:38:31,719 --> 00:38:35,040 Speaker 1: driver's helmet, cameras in the car, cameras on the brake pads. 701 00:38:35,080 --> 00:38:37,440 Speaker 1: You could actually see the brake pads touching. So when 702 00:38:37,440 --> 00:38:40,360 Speaker 1: he talked about this smart cage and chips in the 703 00:38:40,400 --> 00:38:42,680 Speaker 1: gloves and you can actually bet on the velocity of 704 00:38:42,719 --> 00:38:46,360 Speaker 1: the punch or and you could see h a camera 705 00:38:46,440 --> 00:38:48,759 Speaker 1: coming through the floor. It's just a different way to 706 00:38:48,760 --> 00:38:50,960 Speaker 1: watch a sport that you don't see normally in the 707 00:38:51,000 --> 00:38:53,480 Speaker 1: four major sports. So that that was my takeaway. And 708 00:38:53,480 --> 00:38:56,520 Speaker 1: now I'm curious because the next opportunity I have to watch, 709 00:38:56,600 --> 00:39:00,160 Speaker 1: I'm gonna tune in. Yeah for sure. Before we did 710 00:39:00,160 --> 00:39:02,480 Speaker 1: the number A week of the week, guys, remember Mike 711 00:39:02,480 --> 00:39:04,480 Speaker 1: you brought up about NASCAR and the cameras. Remember the 712 00:39:04,520 --> 00:39:08,279 Speaker 1: dog cam. Yeah, I love that, And they called it 713 00:39:08,400 --> 00:39:13,399 Speaker 1: the dog camp because the camera was right on the door, 714 00:39:13,920 --> 00:39:16,920 Speaker 1: right on right as your head into the cockpit and 715 00:39:16,960 --> 00:39:20,520 Speaker 1: the doors right there by the a frame and just 716 00:39:20,600 --> 00:39:23,439 Speaker 1: working your dog would hang out the window when he's 717 00:39:23,560 --> 00:39:26,000 Speaker 1: out on the road. So that's what they called it, 718 00:39:26,080 --> 00:39:28,240 Speaker 1: the dog cam. I love that. That was my favorite 719 00:39:28,239 --> 00:39:33,200 Speaker 1: one my goals in. It feels better to be number 720 00:39:33,200 --> 00:39:35,279 Speaker 1: one than number five. I'll wear a number because of Mike. 721 00:39:35,400 --> 00:39:36,880 Speaker 1: We have a chance to go for three in a row. 722 00:39:36,880 --> 00:39:38,879 Speaker 1: Because numbers in a good time. And let's first started 723 00:39:38,880 --> 00:39:42,320 Speaker 1: wearing the number, I would just happy and floomberg. Business 724 00:39:42,320 --> 00:39:45,560 Speaker 1: of sports, the number of the week. Time Now for 725 00:39:45,600 --> 00:39:48,880 Speaker 1: the number of the week, everybody, you can play along 726 00:39:49,040 --> 00:39:52,439 Speaker 1: at home. I will give you a hint though this 727 00:39:52,520 --> 00:39:57,240 Speaker 1: is an age eighty nine, eighty nine. It's not little 728 00:39:57,360 --> 00:40:00,799 Speaker 1: Richard because I think he was eighty se even know 729 00:40:01,120 --> 00:40:03,839 Speaker 1: that you are you are corrects her. It's not Don 730 00:40:03,920 --> 00:40:11,480 Speaker 1: Shula because Don Shula was. It is someone who is 731 00:40:11,480 --> 00:40:17,760 Speaker 1: still very much alive. Who. Yeah, you gotta tell us, well, 732 00:40:17,800 --> 00:40:22,719 Speaker 1: I'm talking about to say Hey Kid, Willie Mays n 733 00:40:23,239 --> 00:40:26,760 Speaker 1: eighty nine a few days ago, and uh, he has 734 00:40:27,360 --> 00:40:29,920 Speaker 1: a book that's coming out with the co author, Uh, 735 00:40:30,040 --> 00:40:32,600 Speaker 1: John Shay is coming out with a new book about 736 00:40:32,760 --> 00:40:36,600 Speaker 1: Mays twenty four Life Stories and Lessons from the Say 737 00:40:36,680 --> 00:40:40,200 Speaker 1: Hey Kid. And May's has one thing that he always 738 00:40:40,280 --> 00:40:43,880 Speaker 1: remembers in his time. Now he says, my thing is 739 00:40:43,920 --> 00:40:49,360 Speaker 1: to keep talking and keep moving. So Willie Great in baseball, 740 00:40:49,440 --> 00:40:52,719 Speaker 1: keep it going, man. This is the Bloomberg Business of 741 00:40:52,760 --> 00:40:54,840 Speaker 1: Sports show. We're here each and every week at the 742 00:40:54,880 --> 00:40:58,040 Speaker 1: same time, plus online wherever you get your podcasts. You 743 00:40:58,080 --> 00:41:02,200 Speaker 1: can catch those Mondays, Wednesdays and Thursdays. I'm Michael Bar 744 00:41:02,360 --> 00:41:05,440 Speaker 1: on Twitter at Big Bar Sports, and I'm Mike Lynch. 745 00:41:05,600 --> 00:41:08,680 Speaker 1: You can follow me at Lynch e w CVB. And 746 00:41:08,760 --> 00:41:11,560 Speaker 1: I'm Jason Kelly. Find me on Twitter at Jason Kelly News. 747 00:41:11,560 --> 00:41:13,600 Speaker 1: Thank you so much for joining us. Tune in next 748 00:41:13,680 --> 00:41:17,480 Speaker 1: week when we speak with Harvey Spevak, the chairman of Equinox, 749 00:41:17,560 --> 00:41:21,920 Speaker 1: all about reopening the world of fitness. You're listening to 750 00:41:21,960 --> 00:41:25,400 Speaker 1: Bloomberg Business of Sports Bloomberg Radio around the world.