1 00:00:00,800 --> 00:00:02,680 Speaker 1: This is the business of sports. 2 00:00:02,759 --> 00:00:06,200 Speaker 2: Our aim is always to leverage the global appeal of football. 3 00:00:06,360 --> 00:00:10,600 Speaker 2: Having representation in college sports is even more important than crow. 4 00:00:10,800 --> 00:00:13,520 Speaker 3: Ten percent of Americans now claimed soccer could be the 5 00:00:13,640 --> 00:00:14,280 Speaker 3: favorite sport. 6 00:00:14,400 --> 00:00:18,240 Speaker 1: We estimate the youth sports audience has three trillion dollars 7 00:00:18,239 --> 00:00:19,320 Speaker 1: in spending power. 8 00:00:19,400 --> 00:00:22,639 Speaker 4: The nature of baseball is, it is worldwide, and it 9 00:00:22,680 --> 00:00:23,239 Speaker 4: is flora. 10 00:00:23,400 --> 00:00:26,840 Speaker 3: I'm very happy for the WNBA and how the NBA 11 00:00:27,080 --> 00:00:28,320 Speaker 3: has embraced them. 12 00:00:28,440 --> 00:00:30,680 Speaker 4: Sports books are not going anywhere, and sports betting is 13 00:00:30,720 --> 00:00:31,320 Speaker 4: only growing. 14 00:00:31,400 --> 00:00:33,479 Speaker 5: We have a super team running this league, and this 15 00:00:33,560 --> 00:00:34,840 Speaker 5: league is here and it's here to stay. 16 00:00:35,000 --> 00:00:38,520 Speaker 1: Bloomberg Business of Sports from Bloomberg Radio. 17 00:00:39,200 --> 00:00:42,159 Speaker 3: This is the Bloomberg Business of Sports, where we explore 18 00:00:42,200 --> 00:00:44,519 Speaker 3: the big money issues in the world of sports. I'm 19 00:00:44,560 --> 00:00:47,360 Speaker 3: Michael Barr and I'm Randa Williams. Vanessa is out on 20 00:00:47,400 --> 00:00:50,519 Speaker 3: assignment this week, but she was here to join us 21 00:00:50,560 --> 00:00:52,560 Speaker 3: on some conversations before she left. 22 00:00:52,880 --> 00:00:55,800 Speaker 6: Coming up, we'll talk about investing in Formula one and 23 00:00:55,840 --> 00:00:58,840 Speaker 6: we'll speak with the founder of a newly launched freestyle 24 00:00:58,840 --> 00:00:59,680 Speaker 6: wrestling league. 25 00:00:59,800 --> 00:01:02,520 Speaker 3: All that is coming up on the Bloomberg Business of Sports. 26 00:01:02,560 --> 00:01:05,399 Speaker 3: But first, Rando, we need to talk about some big 27 00:01:05,440 --> 00:01:08,640 Speaker 3: old stories that got our attention this week, and let's 28 00:01:08,640 --> 00:01:12,040 Speaker 3: start with the Greek freak landing in South Beach. 29 00:01:12,520 --> 00:01:15,640 Speaker 6: Giannis Ante Takumpo is now a member of the Miami 30 00:01:15,720 --> 00:01:17,920 Speaker 6: Heat after a big trade that sent him from the 31 00:01:17,920 --> 00:01:21,560 Speaker 6: Milwaukee Bucks and a deal initially reported by ESPN involving 32 00:01:21,600 --> 00:01:24,440 Speaker 6: Tyler Harrow in three first round picks. We should also 33 00:01:24,480 --> 00:01:27,560 Speaker 6: note that that trade cannot be finalized until July sixth. 34 00:01:28,000 --> 00:01:31,120 Speaker 3: By the way, and I forgot about this. That shows 35 00:01:31,120 --> 00:01:34,080 Speaker 3: you how much of a geezer I am Antetkoumpo is 36 00:01:34,200 --> 00:01:36,240 Speaker 3: now thirty one years old. 37 00:01:36,680 --> 00:01:39,039 Speaker 6: It seems like yesterday won a championship. But we're in 38 00:01:39,160 --> 00:01:41,640 Speaker 6: this era of the NBA that I would call the 39 00:01:41,800 --> 00:01:45,280 Speaker 6: uh it's the fair era is because there's been eight 40 00:01:45,280 --> 00:01:49,440 Speaker 6: different champions in eight seasons and nothing is guaranteed. And 41 00:01:49,480 --> 00:01:51,640 Speaker 6: I don't think that him being traded to the Miami 42 00:01:51,640 --> 00:01:54,920 Speaker 6: Heat automatically guaranteed that they're going to be a championship contender. 43 00:01:55,160 --> 00:01:57,400 Speaker 6: When you trade for a superstar like Gianis, that means 44 00:01:57,400 --> 00:01:58,920 Speaker 6: you have to give up a lot to get him. Now, 45 00:01:58,920 --> 00:02:00,639 Speaker 6: I got to jump in for it. I'm seing convince 46 00:02:00,640 --> 00:02:03,000 Speaker 6: a lot of people to go live in South Beach, 47 00:02:03,040 --> 00:02:04,400 Speaker 6: which shouldn't be that hard. 48 00:02:05,240 --> 00:02:08,919 Speaker 3: Now. This is interesting because I forgot he had some 49 00:02:09,000 --> 00:02:12,560 Speaker 3: injury problems last season. When you know, when he was 50 00:02:12,639 --> 00:02:14,320 Speaker 3: with the Bucks, he. 51 00:02:14,400 --> 00:02:17,000 Speaker 6: Injured problems in quotation marks. There was a lot of 52 00:02:17,080 --> 00:02:21,040 Speaker 6: drama about that him. But he only was in thirty 53 00:02:21,080 --> 00:02:24,079 Speaker 6: six games, So I think he's fine. I think Giannis 54 00:02:24,080 --> 00:02:26,760 Speaker 6: will be fine. It's just about really building the team 55 00:02:26,760 --> 00:02:30,480 Speaker 6: around him and the investment from the Miami Heat. After 56 00:02:30,520 --> 00:02:31,920 Speaker 6: you do a trade like this, like I said, it 57 00:02:31,960 --> 00:02:35,000 Speaker 6: depletes the team, and so I'm excited to see what 58 00:02:35,080 --> 00:02:37,840 Speaker 6: things look like on the eastern side of the conference. 59 00:02:37,880 --> 00:02:41,480 Speaker 6: Everybody is still raving and ranting about the Knicks, rightfully so, 60 00:02:41,720 --> 00:02:44,040 Speaker 6: but who are their challenges and what is the fallout 61 00:02:44,080 --> 00:02:46,840 Speaker 6: of this? Because of course the Celtics were in on 62 00:02:46,880 --> 00:02:49,920 Speaker 6: this as well, trying to trade Jalen Brown the twenty 63 00:02:50,000 --> 00:02:53,240 Speaker 6: twenty four NBA Finals MVP that did not happen. If 64 00:02:53,240 --> 00:02:55,799 Speaker 6: you're Jalen Brown, do you feel like I want to 65 00:02:55,840 --> 00:02:57,840 Speaker 6: still be here or I want my own team? So 66 00:02:58,360 --> 00:03:00,880 Speaker 6: it's going to be very interesting in weeks to come 67 00:03:00,919 --> 00:03:02,760 Speaker 6: as the NBA approaches free agency. 68 00:03:03,360 --> 00:03:07,000 Speaker 3: What's going to happen and several days ago, the NBA 69 00:03:07,320 --> 00:03:11,720 Speaker 3: held the draft with the number one pick heading to 70 00:03:11,919 --> 00:03:17,360 Speaker 3: the Washington Wizards. AJ diamansa from BYU and he was 71 00:03:17,480 --> 00:03:19,960 Speaker 3: awesome back then when he was with BYU. 72 00:03:20,280 --> 00:03:22,720 Speaker 6: Yep I was at the NBA Draft and was able 73 00:03:22,760 --> 00:03:25,440 Speaker 6: to ask Aja a question along with our intern on 74 00:03:25,440 --> 00:03:30,720 Speaker 6: the Sports Business team, Caitlyn Polly, and Aj is primed 75 00:03:30,720 --> 00:03:33,440 Speaker 6: for the moment. He's just so confident. He has an 76 00:03:33,440 --> 00:03:36,480 Speaker 6: aura about him that says he wants to revive basketball 77 00:03:36,520 --> 00:03:38,960 Speaker 6: in the Washington DC. And I'm gonna be honest, I 78 00:03:39,000 --> 00:03:41,160 Speaker 6: hope he's successful because I think things are better in 79 00:03:41,200 --> 00:03:45,360 Speaker 6: the NBA when the big markets are trying to topple 80 00:03:45,400 --> 00:03:45,800 Speaker 6: each other. 81 00:03:46,680 --> 00:03:51,320 Speaker 3: And let's talk about soccer. The Men's World Cup. You 82 00:03:51,640 --> 00:03:56,560 Speaker 3: know the soccer dudes, Christiano Ronaldo and Lionel Messi. They 83 00:03:56,600 --> 00:03:59,160 Speaker 3: have set records in this World Cup. 84 00:04:00,240 --> 00:04:03,080 Speaker 6: Messi is the all time leader and goals scored at 85 00:04:03,080 --> 00:04:05,800 Speaker 6: the World Cup and Ronaldo became the first player to 86 00:04:05,880 --> 00:04:08,320 Speaker 6: score in six World Cups. But let's be honest here, 87 00:04:08,360 --> 00:04:09,840 Speaker 6: I think Messi is the goat, right. I don't think 88 00:04:09,880 --> 00:04:12,200 Speaker 6: there's any conversation anymore. I think Ronaldo is one of 89 00:04:12,240 --> 00:04:14,840 Speaker 6: the all time or if not the all time greatest 90 00:04:14,840 --> 00:04:17,479 Speaker 6: goal scorer, but in terms of the undisputed go Messi 91 00:04:17,520 --> 00:04:17,800 Speaker 6: got it. 92 00:04:18,320 --> 00:04:22,160 Speaker 3: See when I was on the cruise several days ago 93 00:04:22,560 --> 00:04:25,680 Speaker 3: and they had this thing in Miami. You heard of 94 00:04:25,680 --> 00:04:28,800 Speaker 3: Miami where maybe they're going to hold some games there, 95 00:04:29,320 --> 00:04:32,080 Speaker 3: and they had this display where they had ten of 96 00:04:32,160 --> 00:04:35,080 Speaker 3: the best soccer players and I got a shot right 97 00:04:35,120 --> 00:04:38,080 Speaker 3: in between Lionel Messi and Christy all know. 98 00:04:38,440 --> 00:04:40,320 Speaker 6: See that's not ideal. You got to pick a side. 99 00:04:40,360 --> 00:04:42,360 Speaker 6: You know how it goes. We don't do the middle 100 00:04:42,400 --> 00:04:43,880 Speaker 6: play here, Which side do you want? 101 00:04:44,279 --> 00:04:45,400 Speaker 3: You know what? I'm sorry? 102 00:04:46,360 --> 00:04:48,840 Speaker 6: Anyways, like I said, Ronaldo's an all time great. It's 103 00:04:49,360 --> 00:04:52,599 Speaker 6: really I think we're in this era of longevity for players. 104 00:04:52,680 --> 00:04:53,040 Speaker 3: Period. 105 00:04:53,080 --> 00:04:56,800 Speaker 6: We saw Brady play into his forties. We're saying Lebron 106 00:04:56,880 --> 00:04:59,640 Speaker 6: and KD and stuff, and even on football right now 107 00:04:59,680 --> 00:05:02,480 Speaker 6: we see Messi and Ronaldo continuing to dominate. So it's 108 00:05:02,480 --> 00:05:05,320 Speaker 6: a beautiful time in sports to see the greats continue 109 00:05:05,360 --> 00:05:06,680 Speaker 6: to age gracefully well. 110 00:05:06,720 --> 00:05:09,920 Speaker 3: Speaking of the World Cup, we recently spoke with Ali Curtis, 111 00:05:09,960 --> 00:05:12,920 Speaker 3: who is the president of MLS Next Pro. 112 00:05:13,400 --> 00:05:15,560 Speaker 6: MLS Next Pro is going to try to build off 113 00:05:15,560 --> 00:05:17,800 Speaker 6: the momentum of the World Cup once it ends by 114 00:05:17,839 --> 00:05:20,960 Speaker 6: getting the next generation ready to compete at the highest level. 115 00:05:21,120 --> 00:05:23,960 Speaker 3: Let's take a listen to that conversation with Ali Curtis, 116 00:05:23,960 --> 00:05:29,000 Speaker 3: president of MLS Next Pro. To date, two hundred and 117 00:05:29,040 --> 00:05:33,039 Speaker 3: fifty five players who have competed in MLS Next Pro 118 00:05:33,600 --> 00:05:37,800 Speaker 3: have gone on to sign first team contracts in MLS. 119 00:05:38,160 --> 00:05:42,720 Speaker 3: That is impressive. What do you think that MLS Next 120 00:05:42,720 --> 00:05:45,840 Speaker 3: Pro is going to have as an impact on the 121 00:05:45,880 --> 00:05:47,240 Speaker 3: game of soccer itself. 122 00:05:47,880 --> 00:05:50,600 Speaker 4: Well, you know what you just mentioned in terms of 123 00:05:50,839 --> 00:05:53,320 Speaker 4: the two hundred and fifty plus players that have been 124 00:05:53,360 --> 00:05:56,280 Speaker 4: developed in MLS Next Pro and signed first team contracts, 125 00:05:56,480 --> 00:05:59,680 Speaker 4: that's a really great indicator. But it's not just you know, 126 00:05:59,720 --> 00:06:02,800 Speaker 4: we call it the pro pathway. It's not just the 127 00:06:02,800 --> 00:06:08,520 Speaker 4: pro player pathway, because players are developing in MLS Next 128 00:06:08,520 --> 00:06:11,160 Speaker 4: Pro and they're going on to play in MLS or 129 00:06:11,200 --> 00:06:14,360 Speaker 4: play for the national team or playing internationally. But that's 130 00:06:14,400 --> 00:06:17,200 Speaker 4: also the case as it relates to so many other 131 00:06:17,320 --> 00:06:21,120 Speaker 4: jobs that are being created that folks are being developed. 132 00:06:21,160 --> 00:06:24,920 Speaker 4: So when you think of sports scientists and medical folks 133 00:06:25,000 --> 00:06:28,280 Speaker 4: and then also coaches, they're being developed in MLS Next 134 00:06:28,279 --> 00:06:30,960 Speaker 4: Pro and then they're going on to internationally and or 135 00:06:31,040 --> 00:06:35,240 Speaker 4: playing or working in Major League Soccer. Michael Bradley is 136 00:06:35,279 --> 00:06:39,160 Speaker 4: a great example. He's a former MLS player, played in 137 00:06:39,200 --> 00:06:43,400 Speaker 4: the World Cup, and he was the coach for Red 138 00:06:43,400 --> 00:06:46,200 Speaker 4: Bull two that won the MLS Next Pro Cup last season, 139 00:06:46,200 --> 00:06:48,200 Speaker 4: and now he's the first team coach for Red Bull's 140 00:06:48,480 --> 00:06:52,720 Speaker 4: first team. So there are several different areas where Mlsnexpro 141 00:06:52,920 --> 00:06:55,800 Speaker 4: is having a really positive impact on the sport and 142 00:06:55,839 --> 00:06:59,760 Speaker 4: on the ecosystem. And so that professional pathway is just 143 00:07:00,120 --> 00:07:04,600 Speaker 4: one illustration, or it's one pillar of that. There's several other, 144 00:07:05,279 --> 00:07:08,360 Speaker 4: you know, areas of the sport where MLS Next Pro 145 00:07:08,560 --> 00:07:12,120 Speaker 4: is having a really positive impact. You know, we we 146 00:07:12,200 --> 00:07:15,560 Speaker 4: call ourselves the League of Opportunity, and within that we 147 00:07:15,640 --> 00:07:19,160 Speaker 4: really look at three four key pillars. One, as I 148 00:07:19,240 --> 00:07:22,920 Speaker 4: mentioned the pro pathway, but also as it relates to 149 00:07:23,080 --> 00:07:26,600 Speaker 4: local communities, innovation, and access. And so when you think 150 00:07:26,600 --> 00:07:29,560 Speaker 4: about some of the different other local communities outside of 151 00:07:29,600 --> 00:07:34,960 Speaker 4: the MLS markets that we're in, like Connecticut and Huntsville, Alabama, 152 00:07:35,400 --> 00:07:40,640 Speaker 4: and Chattanooga, Tennessee, we're really trying to grow and expand 153 00:07:40,680 --> 00:07:43,640 Speaker 4: and have a really positive impact on the sport in 154 00:07:43,760 --> 00:07:47,720 Speaker 4: several different communities. High Point, North Carolina is another community 155 00:07:47,800 --> 00:07:52,000 Speaker 4: that I failed to mention. Innovation is also a really 156 00:07:52,080 --> 00:07:56,000 Speaker 4: really important area of the sport that we're having an 157 00:07:56,080 --> 00:07:59,800 Speaker 4: impact on and it's really timely, especially as it relates 158 00:07:59,840 --> 00:08:02,960 Speaker 4: to what's happening in the World Cup. And so we 159 00:08:02,960 --> 00:08:07,880 Speaker 4: we use MLS next Pro to identify and test potential 160 00:08:08,000 --> 00:08:10,800 Speaker 4: new rules that can help evolve and grow the sport. 161 00:08:11,680 --> 00:08:16,679 Speaker 4: And we've tested and used a few rules in MLS 162 00:08:16,680 --> 00:08:19,720 Speaker 4: next Pro. We piloted them there and then we implemented 163 00:08:19,720 --> 00:08:22,640 Speaker 4: them in Major League Soccer and now the governing body 164 00:08:22,720 --> 00:08:27,400 Speaker 4: at FIFA and IFAB, they've implemented those new rules into 165 00:08:27,400 --> 00:08:29,880 Speaker 4: the global game and you'll see them into the World Cup. 166 00:08:30,240 --> 00:08:33,160 Speaker 4: So you know, we're having an impact not just on 167 00:08:33,240 --> 00:08:37,480 Speaker 4: our local communities and on the domestic soccer and sports landscape, 168 00:08:37,480 --> 00:08:40,120 Speaker 4: but we're also having an impact on the global game. 169 00:08:40,760 --> 00:08:43,600 Speaker 4: So a lot of things exciting as it relates to 170 00:08:43,679 --> 00:08:46,680 Speaker 4: our impact and what we're doing, and you know, so 171 00:08:47,520 --> 00:08:49,280 Speaker 4: this is exciting times. 172 00:08:49,760 --> 00:08:51,680 Speaker 5: Oh, I think that's really interesting and it's something that 173 00:08:51,720 --> 00:08:55,200 Speaker 5: people might not know about, you know, how MLX next 174 00:08:55,200 --> 00:08:57,880 Speaker 5: Pro works and then how it relates to the rest 175 00:08:57,960 --> 00:09:00,880 Speaker 5: of you know, the steps that go into professional soccer. 176 00:09:00,920 --> 00:09:03,280 Speaker 5: As you mentioned the rule changes in the World Cup. 177 00:09:03,679 --> 00:09:06,200 Speaker 5: This is a thing that developmental leagues do, right, they 178 00:09:06,720 --> 00:09:09,120 Speaker 5: test certain products and to see it then go all 179 00:09:09,120 --> 00:09:11,040 Speaker 5: the way up to the World Cup is actually really amazing. 180 00:09:11,640 --> 00:09:14,800 Speaker 4: Yeah, I will say this, we are one of we're 181 00:09:14,800 --> 00:09:19,280 Speaker 4: one of the few leagues that are piloting new rules 182 00:09:19,320 --> 00:09:22,240 Speaker 4: and testing them out into our first We've got a 183 00:09:22,280 --> 00:09:27,280 Speaker 4: really great, what I would say, pro pathway, a development 184 00:09:27,320 --> 00:09:32,559 Speaker 4: pathway that is very unique to the US sports landscape. 185 00:09:32,600 --> 00:09:36,600 Speaker 4: And so we have a you know, the pathway we 186 00:09:36,640 --> 00:09:40,240 Speaker 4: look at from recreational soccer all the way to the pros. 187 00:09:40,280 --> 00:09:44,360 Speaker 4: And so we've got several other leagues that we own 188 00:09:44,440 --> 00:09:48,480 Speaker 4: and operate. MLS Go is our rec platform. We've got 189 00:09:48,520 --> 00:09:53,960 Speaker 4: the top youth soccer league in North America and that's 190 00:09:54,000 --> 00:09:57,000 Speaker 4: called MLS Next and so all the top young players 191 00:09:57,400 --> 00:10:00,520 Speaker 4: that are playing soccer in the US and K they 192 00:10:00,520 --> 00:10:03,240 Speaker 4: play in that league. And then some of those players 193 00:10:03,240 --> 00:10:06,240 Speaker 4: signed contracts to play in MLS Next Pro and some 194 00:10:06,320 --> 00:10:08,440 Speaker 4: of those and then some of the MLS Next Pro 195 00:10:08,480 --> 00:10:11,560 Speaker 4: players as we talked about earlier, they signed contracts and 196 00:10:11,559 --> 00:10:13,559 Speaker 4: they play in MLS and along the way they're playing 197 00:10:13,600 --> 00:10:15,960 Speaker 4: for all the youth national teams and or the senior 198 00:10:16,040 --> 00:10:19,560 Speaker 4: national team, and so that infrastructure is very healthy, and 199 00:10:19,600 --> 00:10:23,080 Speaker 4: it allows us to really look at the sport in 200 00:10:23,120 --> 00:10:29,000 Speaker 4: a really dimensional way and test different ideas and concepts 201 00:10:29,080 --> 00:10:32,320 Speaker 4: that make sense. Now, you know, the game has been 202 00:10:32,520 --> 00:10:36,040 Speaker 4: has been around for over one hundred years and it 203 00:10:36,080 --> 00:10:40,720 Speaker 4: is beautiful on its own. It's an amazing sport, and 204 00:10:40,760 --> 00:10:42,680 Speaker 4: we don't want to do anything to change the game. 205 00:10:42,720 --> 00:10:45,679 Speaker 4: But we also know that it's important that there are 206 00:10:45,760 --> 00:10:48,000 Speaker 4: elements of the game that we can evolve, and so 207 00:10:48,880 --> 00:10:52,480 Speaker 4: if we're thoughtful about how we think about our league 208 00:10:52,520 --> 00:10:56,640 Speaker 4: and our sport, we can make small changes that can 209 00:10:56,679 --> 00:11:00,840 Speaker 4: really have positive impact on the game. So two rules 210 00:11:00,840 --> 00:11:03,480 Speaker 4: that we started in twenty twenty two, so four and 211 00:11:03,520 --> 00:11:07,960 Speaker 4: a half years ago. One's called the time substitution rule. 212 00:11:08,480 --> 00:11:13,199 Speaker 4: Ifab adopt slightly variations called the time limited Substitution Law, 213 00:11:13,559 --> 00:11:16,600 Speaker 4: and then the off Field Treatment Law. So those two 214 00:11:17,480 --> 00:11:20,280 Speaker 4: rules are rules that we created an MLS Next Pro 215 00:11:20,360 --> 00:11:24,480 Speaker 4: in twenty twenty four. One has to deal with, you know, 216 00:11:24,640 --> 00:11:28,960 Speaker 4: improving player health and safety and then also reducing gamesmanship 217 00:11:28,960 --> 00:11:31,320 Speaker 4: and time wasting, and then the other one has to 218 00:11:31,360 --> 00:11:35,120 Speaker 4: deal primarily with keeping the flow of the game, moving 219 00:11:35,240 --> 00:11:38,120 Speaker 4: and not having to spend too much time wasting as 220 00:11:38,160 --> 00:11:42,800 Speaker 4: it relates to substitutions. And you know, Americans and folks 221 00:11:42,840 --> 00:11:45,960 Speaker 4: in North America, you know, we hate to see flopping 222 00:11:46,080 --> 00:11:48,760 Speaker 4: and wasting time and all those types of things. And 223 00:11:48,840 --> 00:11:52,640 Speaker 4: so with our off field treatment rule, we effectively have 224 00:11:53,080 --> 00:11:57,800 Speaker 4: had a significant impact on reducing those instances where you 225 00:11:57,880 --> 00:12:00,720 Speaker 4: might see a player that is just fake an injury. 226 00:12:00,760 --> 00:12:04,520 Speaker 4: And so before we tested the off field treatment rule, 227 00:12:04,960 --> 00:12:07,920 Speaker 4: on average, five or six times per game, you would 228 00:12:07,920 --> 00:12:10,360 Speaker 4: have a player that would go down on the field 229 00:12:10,520 --> 00:12:14,160 Speaker 4: for extended period of time and then automatically they would 230 00:12:14,520 --> 00:12:17,200 Speaker 4: miraculously they would get back up and then they would 231 00:12:17,400 --> 00:12:21,760 Speaker 4: continue playing. Once we implemented our new rule, you saw 232 00:12:21,840 --> 00:12:25,600 Speaker 4: that data point be reduced from five or six times 233 00:12:25,840 --> 00:12:29,000 Speaker 4: to one to one point three times per game, and 234 00:12:29,080 --> 00:12:32,160 Speaker 4: the amount of time associated with that potential injury was 235 00:12:32,200 --> 00:12:33,760 Speaker 4: also significantly reduced. 236 00:12:34,080 --> 00:12:37,040 Speaker 6: That was MLS next Pro President Ali Curtis along with me, 237 00:12:37,400 --> 00:12:39,680 Speaker 6: Michael and Vanessa up next. 238 00:12:39,800 --> 00:12:44,120 Speaker 3: It's one of my favorite topics. Race guys, Dabi. We'll 239 00:12:44,240 --> 00:12:48,080 Speaker 3: check in with the chairman of Oats and Williams. F 240 00:12:48,160 --> 00:12:51,920 Speaker 3: one team that is straight ahead on the Bloomberg Business 241 00:12:51,920 --> 00:12:55,640 Speaker 3: of Sports for Vanessa Perdomo Magleone and Brandon Williams. I'm 242 00:12:55,640 --> 00:12:57,880 Speaker 3: Michael Barr. You are listening to the Bloomberg Business of 243 00:12:57,920 --> 00:12:59,960 Speaker 3: Sports Bloomberg Radio around the world. 244 00:13:04,679 --> 00:13:08,680 Speaker 1: This is Bloomberg Business of Sports from Bloomberg Radio. 245 00:13:09,880 --> 00:13:12,439 Speaker 3: This is the Bloomberg Business of Sports. We explore the 246 00:13:12,440 --> 00:13:14,240 Speaker 3: big money issues in the world of sports. 247 00:13:14,320 --> 00:13:16,559 Speaker 6: I'm Michael Barr and I'm Randa Williams. 248 00:13:16,720 --> 00:13:21,400 Speaker 3: Vanessa Perdomo Magleone told us she is our own assignment 249 00:13:21,520 --> 00:13:25,680 Speaker 3: in France doing some reporting for the Candleon International Festival 250 00:13:25,720 --> 00:13:26,679 Speaker 3: of Creativity. 251 00:13:26,960 --> 00:13:28,800 Speaker 6: She's having the time of a life. But as a 252 00:13:28,800 --> 00:13:31,160 Speaker 6: matter of fact, you can hear a selection of her 253 00:13:31,160 --> 00:13:34,400 Speaker 6: conversation from the festival now on the Bloomberg Business of 254 00:13:34,400 --> 00:13:38,000 Speaker 6: Sports podcast feed. Find it on Apple, Spotify, the Bloomberg 255 00:13:38,040 --> 00:13:41,280 Speaker 6: Business app and anywhere else you get your podcasts. 256 00:13:41,520 --> 00:13:44,160 Speaker 3: Before Vanessa went off to have some fun i mean 257 00:13:44,240 --> 00:13:47,720 Speaker 3: work in France. Yeah, it was funny. She sat with 258 00:13:47,800 --> 00:13:52,400 Speaker 3: us for a conversation with Matthew Savage. He's the chairman 259 00:13:52,840 --> 00:13:57,880 Speaker 3: of Doraalton Capital and Atlasian Williams f one team. That's right, Michael. 260 00:13:57,920 --> 00:14:00,880 Speaker 6: We spoke to Matthew about their philosoph fee for how 261 00:14:00,920 --> 00:14:03,360 Speaker 6: to invest where to invest in the team in order 262 00:14:03,400 --> 00:14:05,840 Speaker 6: to get the best results on the track and on 263 00:14:05,880 --> 00:14:06,680 Speaker 6: the business side. 264 00:14:06,800 --> 00:14:09,640 Speaker 3: Let's take a listen to Vanessa and Randall's conversation with 265 00:14:09,840 --> 00:14:14,760 Speaker 3: Matthew Savage, chairman of Douralton Capital and at Lassian Williams 266 00:14:14,960 --> 00:14:15,640 Speaker 3: F one team. 267 00:14:16,240 --> 00:14:19,440 Speaker 5: Matthew, it's been about six years since you got into 268 00:14:19,720 --> 00:14:23,760 Speaker 5: Formula one. Tell us about your journey over this amount. 269 00:14:23,520 --> 00:14:23,920 Speaker 4: Of time. 270 00:14:25,760 --> 00:14:28,080 Speaker 7: And thanks for having me on the show. Vanessa. It's 271 00:14:28,080 --> 00:14:30,440 Speaker 7: great to be here and to talk about the exciting 272 00:14:30,440 --> 00:14:36,240 Speaker 7: sport of Formula one. We have the opportunity in during 273 00:14:36,320 --> 00:14:40,680 Speaker 7: COVID actually to acquire Williams and it's been a fascinating 274 00:14:40,720 --> 00:14:44,600 Speaker 7: journey ever since. I think jumping into it, we had 275 00:14:44,600 --> 00:14:48,200 Speaker 7: originally seen an opportunity to pick up an iconic sports 276 00:14:48,680 --> 00:14:52,600 Speaker 7: brand at a much less, much lower evaluation than we 277 00:14:52,640 --> 00:14:54,680 Speaker 7: had seen in the US market with some of the 278 00:14:54,800 --> 00:15:00,160 Speaker 7: NBA and NFL teams, and we also saw busines this 279 00:15:00,240 --> 00:15:03,200 Speaker 7: where our Liberty Media had had had sort of taken 280 00:15:03,200 --> 00:15:05,880 Speaker 7: over the global management of it, and we believed in 281 00:15:05,920 --> 00:15:10,120 Speaker 7: the growth that Liberty could produce and that obviously has 282 00:15:10,160 --> 00:15:12,800 Speaker 7: come throue in space for the benefit of the sport, 283 00:15:12,840 --> 00:15:15,880 Speaker 7: and that the owners and so on. So like all things, 284 00:15:16,080 --> 00:15:19,000 Speaker 7: you know, I hope that we would have moved forward 285 00:15:19,400 --> 00:15:24,880 Speaker 7: a bit more. It's it's it's been a journey. But 286 00:15:25,000 --> 00:15:27,320 Speaker 7: the truth of Formula one teams is it's it's not 287 00:15:27,360 --> 00:15:30,560 Speaker 7: all about the players we have. We have two drivers 288 00:15:30,600 --> 00:15:34,520 Speaker 7: and one thousand employees, and it's very much an engineering 289 00:15:34,520 --> 00:15:38,280 Speaker 7: and manufacturing business. So you can't just go into free 290 00:15:38,320 --> 00:15:41,720 Speaker 7: agency or have a great draft and then go compete 291 00:15:41,760 --> 00:15:44,240 Speaker 7: the next year. It's it's a matter of really baking 292 00:15:44,240 --> 00:15:49,240 Speaker 7: in proper business processes, using modern software, techniques and tools 293 00:15:50,200 --> 00:15:53,000 Speaker 7: to rebuild the business and become competitive. 294 00:15:54,080 --> 00:15:58,000 Speaker 6: And so let's talk Formula one valuations. They've risen at 295 00:15:58,000 --> 00:16:01,360 Speaker 6: a dramatic space, as have the rest sports evaluation world. 296 00:16:01,400 --> 00:16:05,120 Speaker 6: What do you think enables a team's success in Formula 297 00:16:05,120 --> 00:16:07,240 Speaker 6: one for its valuations to continue to rise? 298 00:16:08,760 --> 00:16:11,640 Speaker 7: Well, I think we're seeing tremendous a couple of things. 299 00:16:12,320 --> 00:16:16,960 Speaker 7: Still seeing tremendous growth in partnership income. So to give 300 00:16:17,000 --> 00:16:20,280 Speaker 7: you a sense, from twenty four to twenty five, I 301 00:16:20,280 --> 00:16:23,360 Speaker 7: think we doubled partnership income. This year we're going to 302 00:16:23,400 --> 00:16:25,480 Speaker 7: be up another fifty percent, and next year I think 303 00:16:25,520 --> 00:16:28,520 Speaker 7: will be up thirty to forty percent. So you're seeing 304 00:16:28,560 --> 00:16:32,040 Speaker 7: massive growth on the commercial side. I think you're also 305 00:16:32,160 --> 00:16:38,160 Speaker 7: seeing a global audience and a very much growing US audience, 306 00:16:39,720 --> 00:16:43,720 Speaker 7: with Asia still I think underrepresented. So I think, just 307 00:16:43,760 --> 00:16:46,360 Speaker 7: to give you some scale, I think globally we have 308 00:16:46,480 --> 00:16:49,280 Speaker 7: something like seven hundred million fans. In the US, I 309 00:16:49,280 --> 00:16:53,160 Speaker 7: think it's fifty million, and I think that plays into 310 00:16:53,400 --> 00:16:56,040 Speaker 7: how these teams are valued. What I did see at 311 00:16:56,040 --> 00:16:58,280 Speaker 7: the time we bought the team and we paid something 312 00:16:58,360 --> 00:17:01,200 Speaker 7: like one time for revenues for the business at a 313 00:17:01,200 --> 00:17:05,480 Speaker 7: time when I think NFL teams were going for something 314 00:17:05,520 --> 00:17:07,919 Speaker 7: like eight to ten times. I think there was a 315 00:17:07,960 --> 00:17:14,280 Speaker 7: real mismatch and people didn't fully understand what the Formula 316 00:17:14,280 --> 00:17:17,959 Speaker 7: one platform was. You know, it is a sport where 317 00:17:18,680 --> 00:17:21,520 Speaker 7: historically one hundred and fifty four teams have failed and 318 00:17:21,560 --> 00:17:26,119 Speaker 7: have liquidated, so very much eyes wide open. But today 319 00:17:26,160 --> 00:17:28,920 Speaker 7: I think what we represent as Formula one is a 320 00:17:29,000 --> 00:17:34,320 Speaker 7: multifaceted marketing and sports platform with only eleven teams. So 321 00:17:34,359 --> 00:17:37,920 Speaker 7: you have scarcity factor, a scarcity factor that comes into it, 322 00:17:38,560 --> 00:17:42,359 Speaker 7: and there is also a commercial opportunity for team owners 323 00:17:42,520 --> 00:17:45,040 Speaker 7: if you're a car company, or for example, red Bull 324 00:17:44,840 --> 00:17:48,280 Speaker 7: selling a cafeinated lemonade. 325 00:17:49,560 --> 00:17:51,520 Speaker 5: Matthew, one of the things you know, I mean, you 326 00:17:51,560 --> 00:17:56,040 Speaker 5: had mentioned there about the US and about fifty million fans. 327 00:17:56,040 --> 00:17:58,919 Speaker 5: You had said, how much of the recent success in 328 00:17:58,960 --> 00:18:03,640 Speaker 5: those valuations rising is by unlocking the US market more 329 00:18:03,680 --> 00:18:08,160 Speaker 5: than it really ever has before. With obviously the popularity 330 00:18:08,160 --> 00:18:09,040 Speaker 5: of Drive to Survive. 331 00:18:10,840 --> 00:18:14,360 Speaker 7: And I think that's been a key piece to this 332 00:18:14,520 --> 00:18:18,440 Speaker 7: because I think it has raised awareness with a whole 333 00:18:18,440 --> 00:18:22,880 Speaker 7: new class of potential partners. Interestingly, though, I think it's 334 00:18:22,920 --> 00:18:25,520 Speaker 7: the global play that appeals to a lot of the partners. 335 00:18:25,560 --> 00:18:28,199 Speaker 7: But you know, one fact that I learned recently that 336 00:18:28,240 --> 00:18:30,080 Speaker 7: blew me away is I think something like eighty two 337 00:18:30,119 --> 00:18:32,879 Speaker 7: percent of all partners in Formula one today are based 338 00:18:32,880 --> 00:18:35,919 Speaker 7: in the US. And I think if we had not 339 00:18:37,000 --> 00:18:41,199 Speaker 7: liberty had not raised the interest level of the sport 340 00:18:41,280 --> 00:18:43,800 Speaker 7: over here, it wouldn't have been in the psyche of 341 00:18:43,880 --> 00:18:49,960 Speaker 7: senior executives. Perhaps when looking at sports sponsorships and partnerships, 342 00:18:50,400 --> 00:18:52,399 Speaker 7: I think they would have been they would have tended 343 00:18:52,400 --> 00:18:57,760 Speaker 7: to stick more with the traditional NFL, MLB, NBA, maybe 344 00:18:57,760 --> 00:19:01,520 Speaker 7: Premier league. So it's the growing interest over here that 345 00:19:01,600 --> 00:19:05,800 Speaker 7: has really heightened the opportunity to enter into those new partnerships. 346 00:19:06,359 --> 00:19:09,440 Speaker 7: And then that has combined with I think the global 347 00:19:09,440 --> 00:19:12,960 Speaker 7: tech industry of course being led out of the US, 348 00:19:13,000 --> 00:19:15,679 Speaker 7: and so you've seen a whole bunch of partnerships come 349 00:19:15,720 --> 00:19:17,760 Speaker 7: out of that industry. 350 00:19:18,520 --> 00:19:21,000 Speaker 6: Let's start Cadillac F one really quickly. They're the newest 351 00:19:21,000 --> 00:19:25,080 Speaker 6: team that's been added to Formula one. From an owner's perspective, 352 00:19:25,680 --> 00:19:29,320 Speaker 6: do you think adding in expansion teams is good for business? 353 00:19:29,359 --> 00:19:32,000 Speaker 6: And at what point is there too many teams? Right 354 00:19:32,040 --> 00:19:35,520 Speaker 6: now there's just eleven twenty two drivers altogether, But is 355 00:19:35,560 --> 00:19:37,320 Speaker 6: there a world where you know, let's say you get 356 00:19:37,320 --> 00:19:39,480 Speaker 6: to twenty six or twenty eight and that's too many. 357 00:19:41,520 --> 00:19:44,000 Speaker 7: I think that's right. It's great to see Cadillac in 358 00:19:44,040 --> 00:19:46,960 Speaker 7: the sport, and I think it's another feature of our 359 00:19:47,040 --> 00:19:51,480 Speaker 7: growing fan base here. It's not just Cadillac. By the way, 360 00:19:51,800 --> 00:19:54,879 Speaker 7: Ford has also partnered with red Bull on the engine side. 361 00:19:54,920 --> 00:19:57,760 Speaker 7: So now you have the two of the actually we 362 00:19:57,840 --> 00:20:02,199 Speaker 7: have all three because still at is pleasant as Ferrari, 363 00:20:02,320 --> 00:20:06,320 Speaker 7: but it's great to have Cadillac on on board. I 364 00:20:06,359 --> 00:20:09,719 Speaker 7: think they add a lot of visibility to the sport. 365 00:20:10,080 --> 00:20:14,399 Speaker 7: In the us. Obviously it's diluted our our income in 366 00:20:14,480 --> 00:20:19,120 Speaker 7: the price fund, and it's another competitor when we pursue 367 00:20:19,920 --> 00:20:24,960 Speaker 7: sponsorships and partnerships. But but overall I think it's they 368 00:20:24,960 --> 00:20:28,560 Speaker 7: will be good for the the sport. I do think 369 00:20:28,560 --> 00:20:31,960 Speaker 7: there's a limit on teams just from the perspective of 370 00:20:32,600 --> 00:20:38,040 Speaker 7: safety and garage facilities. You know, there are only so 371 00:20:38,080 --> 00:20:43,320 Speaker 7: many garages that each track. I think some tracks, especially 372 00:20:43,400 --> 00:20:46,359 Speaker 7: the shorter tracks, if we hit a point where there 373 00:20:46,400 --> 00:20:49,639 Speaker 7: are so many cars on the track during quality or 374 00:20:49,680 --> 00:20:53,080 Speaker 7: practice for example, I think it can become quite dangerous. 375 00:20:53,640 --> 00:20:57,240 Speaker 7: So I think there is a natural limit to the 376 00:20:57,040 --> 00:20:59,520 Speaker 7: the number of teams that can. 377 00:20:59,440 --> 00:21:03,040 Speaker 5: Be In formal, we're speaking with Matthew Savage, chairman of 378 00:21:03,119 --> 00:21:08,440 Speaker 5: Doralton Capital and Williams Racing. Matthew, Formula One's this really unique, 379 00:21:08,600 --> 00:21:12,439 Speaker 5: you know sport in the way that innovation comes every 380 00:21:12,520 --> 00:21:15,200 Speaker 5: year every year for every sport, but like in such 381 00:21:15,240 --> 00:21:17,919 Speaker 5: a specific way, in such a big way for Formula 382 00:21:17,960 --> 00:21:20,400 Speaker 5: one all the time having to change things year after 383 00:21:20,440 --> 00:21:23,080 Speaker 5: a year and under the cost cap, how do you 384 00:21:23,200 --> 00:21:26,639 Speaker 5: navigate that year after a year? You know, with the 385 00:21:26,640 --> 00:21:30,359 Speaker 5: money that you're investing, do you change it every year? 386 00:21:30,520 --> 00:21:33,160 Speaker 5: Or has it been kind of the same ethos you've 387 00:21:33,280 --> 00:21:36,160 Speaker 5: you've driven and gone through the different seasons that you've 388 00:21:36,200 --> 00:21:37,560 Speaker 5: been part of the team. 389 00:21:38,600 --> 00:21:41,119 Speaker 7: Well, the cost cap is is actually one of the 390 00:21:41,119 --> 00:21:43,800 Speaker 7: reasons why we bought into the sport. We would not 391 00:21:43,840 --> 00:21:46,880 Speaker 7: have bought a team without there being a cost cap. 392 00:21:46,920 --> 00:21:50,240 Speaker 7: I think if you go back ten ten years, teams 393 00:21:50,280 --> 00:21:53,800 Speaker 7: like Mercedes and Red Bull Ferrari would probably be spending 394 00:21:53,920 --> 00:21:57,080 Speaker 7: seven hundred, eight hundred million dollars a year while Williams 395 00:21:57,119 --> 00:22:00,240 Speaker 7: was spending one hundred and fifty million. So the cost 396 00:22:00,240 --> 00:22:03,440 Speaker 7: cap really creates a level playing field here or more 397 00:22:03,520 --> 00:22:07,560 Speaker 7: level playing field. And what's interesting is it makes it 398 00:22:07,680 --> 00:22:10,919 Speaker 7: something of a business competition. So it puts an onus 399 00:22:10,960 --> 00:22:14,879 Speaker 7: on having quality systems where you know how cost is 400 00:22:14,920 --> 00:22:19,520 Speaker 7: being allocated right across the board, so that we can 401 00:22:19,560 --> 00:22:22,919 Speaker 7: make decisions as to where do we invest, where's the 402 00:22:23,080 --> 00:22:27,040 Speaker 7: where's the maximum ory turn on lap time for the investment, 403 00:22:28,320 --> 00:22:30,720 Speaker 7: And then there are a whole string of decisions to 404 00:22:30,800 --> 00:22:33,240 Speaker 7: make in terms of do we invest in the next 405 00:22:33,280 --> 00:22:35,920 Speaker 7: year's car, or do we try to improve this year's car, 406 00:22:36,480 --> 00:22:39,040 Speaker 7: or do we perhaps invest in further out R and 407 00:22:39,119 --> 00:22:42,560 Speaker 7: D to take a bigger leap. So last year, for example, 408 00:22:42,760 --> 00:22:47,560 Speaker 7: we start stopped developing the car quite early and try 409 00:22:47,600 --> 00:22:50,800 Speaker 7: to set us set ourselves up to design a great 410 00:22:50,840 --> 00:22:55,120 Speaker 7: car for this year. Unfortunately that didn't quite pan out, 411 00:22:56,160 --> 00:22:58,440 Speaker 7: and again it comes back to some of the internal 412 00:22:58,480 --> 00:23:01,880 Speaker 7: systems not being where they should be. We were surprised 413 00:23:01,920 --> 00:23:04,800 Speaker 7: to find that the car was overweight at the beginning 414 00:23:04,880 --> 00:23:09,320 Speaker 7: of the year. But those those decisions are constant, and 415 00:23:09,800 --> 00:23:12,960 Speaker 7: so we now have a decision that that's very live. 416 00:23:13,040 --> 00:23:14,800 Speaker 7: Do we take weight out of the car this year 417 00:23:15,359 --> 00:23:18,200 Speaker 7: or do we do we just focus on next year's 418 00:23:18,240 --> 00:23:21,200 Speaker 7: car again and try to take that leap over the winter. 419 00:23:22,080 --> 00:23:25,600 Speaker 7: I think the answer for us right now is we will. 420 00:23:25,600 --> 00:23:27,680 Speaker 7: We will take weight out, we will improve the car. 421 00:23:28,920 --> 00:23:30,600 Speaker 7: I think you may see a new chassis on the 422 00:23:30,640 --> 00:23:34,320 Speaker 7: car later this year that we've brought forward from next year. 423 00:23:34,359 --> 00:23:37,240 Speaker 7: But but there are financial decisions constantly coming at us 424 00:23:37,880 --> 00:23:40,359 Speaker 7: in terms of whether you spend on JAM today or 425 00:23:40,440 --> 00:23:43,560 Speaker 7: JAM tomorrow. I guess which flavor of jam as well. 426 00:23:44,359 --> 00:23:47,399 Speaker 6: Interesting and so with Vanessa and I being here in 427 00:23:47,440 --> 00:23:50,159 Speaker 6: the US, we have three races. We have the Austin 428 00:23:50,200 --> 00:23:52,000 Speaker 6: Grand Prix, the Vegas Grand Prix, and of course the 429 00:23:52,040 --> 00:23:54,360 Speaker 6: Miami Grand Prix, and I wonder if you think that 430 00:23:54,400 --> 00:23:57,880 Speaker 6: Formula one has maximized the number of races that can 431 00:23:58,040 --> 00:24:01,160 Speaker 6: be here. There have been conversation is about New York, 432 00:24:01,280 --> 00:24:03,520 Speaker 6: and you know, there's the NASCAR Chicago Street Race, and 433 00:24:03,600 --> 00:24:06,399 Speaker 6: so it's clear that other cities can do this. But 434 00:24:06,440 --> 00:24:11,359 Speaker 6: from your perspective, being someone directly involved in this, is 435 00:24:11,440 --> 00:24:13,879 Speaker 6: three races the right amount. Do you think there's a 436 00:24:13,920 --> 00:24:17,240 Speaker 6: market for a fourth or do you think it's perfect 437 00:24:17,280 --> 00:24:17,680 Speaker 6: right now? 438 00:24:19,560 --> 00:24:23,200 Speaker 7: I think the the three races create a good platform 439 00:24:23,240 --> 00:24:26,800 Speaker 7: here and I'd also throw in maybe Montreal as a 440 00:24:26,800 --> 00:24:30,520 Speaker 7: as another race in North America. And I think there's 441 00:24:30,520 --> 00:24:32,520 Speaker 7: a balance to achieve it. I do view US as 442 00:24:32,520 --> 00:24:36,879 Speaker 7: a global sport and so achieving a balance between various 443 00:24:36,920 --> 00:24:43,000 Speaker 7: regions is important, you know, Europe, Asia, the Americas and 444 00:24:43,000 --> 00:24:46,000 Speaker 7: what have you. So I think the it's something that 445 00:24:46,040 --> 00:24:50,679 Speaker 7: the folks at Liberty study very carefully. And one of 446 00:24:50,680 --> 00:24:53,040 Speaker 7: the great things right now is that they're not short 447 00:24:53,080 --> 00:24:55,520 Speaker 7: on on cities around the world that want to to 448 00:24:55,560 --> 00:25:00,480 Speaker 7: host races, so that you know, we could probably I 449 00:25:00,520 --> 00:25:02,240 Speaker 7: don't think we could physically do it, but we could 450 00:25:02,240 --> 00:25:07,320 Speaker 7: probably you know, arranged thirty forty to thirty thirty five 451 00:25:07,400 --> 00:25:11,600 Speaker 7: races quite easily based on folks that want to hold races. 452 00:25:11,119 --> 00:25:15,360 Speaker 7: But I think right now it's a good number for three. 453 00:25:14,800 --> 00:25:20,320 Speaker 7: If if the the economics and the growth of the 454 00:25:20,359 --> 00:25:23,199 Speaker 7: market it continues, I think you know they'll there's an 455 00:25:23,280 --> 00:25:25,120 Speaker 7: argument to it. Perhaps add another race. 456 00:25:25,720 --> 00:25:27,880 Speaker 6: That was Matthew Savage. It's a great name, by the way, 457 00:25:28,200 --> 00:25:31,240 Speaker 6: chairman of Duralton Capital and at Lassian Williams F one 458 00:25:31,280 --> 00:25:34,040 Speaker 6: team up. Next we'll talk about a new league working 459 00:25:34,080 --> 00:25:36,840 Speaker 6: to bring the real sport of wrestling to the professional level. 460 00:25:36,920 --> 00:25:39,240 Speaker 3: That is straight ahead on the Bloomberg Business of Sports 461 00:25:39,400 --> 00:25:42,840 Speaker 3: Michael Barr with Vanessa Berdoo magleone and Randa Williams. You're 462 00:25:42,880 --> 00:25:46,399 Speaker 3: listening to the Bloomberg Business of Sports from Bloomberg Radio 463 00:25:46,480 --> 00:25:47,320 Speaker 3: around the world. 464 00:25:51,000 --> 00:25:53,800 Speaker 6: My Alzheimer's diagnosis was hard to take. 465 00:25:53,920 --> 00:25:56,280 Speaker 3: But early detection allowed us to take control of the 466 00:25:56,320 --> 00:25:57,600 Speaker 3: situation together. 467 00:25:57,880 --> 00:25:59,679 Speaker 2: Talk to your family about seeing a doctor. 468 00:26:00,200 --> 00:26:02,320 Speaker 8: To alz dot org slash time to talk. 469 00:26:02,520 --> 00:26:05,919 Speaker 1: A message from the Alzheimer's Association and the ad Council. 470 00:26:06,000 --> 00:26:09,560 Speaker 8: With the Bloomberg Small Business Report, I'm Nathan Hager. The 471 00:26:09,600 --> 00:26:13,080 Speaker 8: Small Business Administration would have to disclose more about its 472 00:26:13,080 --> 00:26:17,480 Speaker 8: assistance programs for aspiring government contractors under a new bill 473 00:26:17,520 --> 00:26:20,359 Speaker 8: that just passed the House. The measure would require the 474 00:26:20,359 --> 00:26:24,040 Speaker 8: agency to submit reports on how many businesses are certified 475 00:26:24,080 --> 00:26:27,840 Speaker 8: to take part in one or multiple SBA programs, along 476 00:26:27,840 --> 00:26:31,680 Speaker 8: with certification timelines and wait times. The reports would cover 477 00:26:31,840 --> 00:26:36,160 Speaker 8: programs including Women owned Small Business, Service, Disabled, Veteran owned 478 00:26:36,200 --> 00:26:40,440 Speaker 8: Small Business, and Hubzone. The bill's bipartisan co sponsors say 479 00:26:40,440 --> 00:26:45,560 Speaker 8: the legislation will quote improve transparency in SBA's contracting process 480 00:26:45,600 --> 00:26:48,400 Speaker 8: to create a fairer, more efficient system that roots out 481 00:26:48,440 --> 00:26:51,920 Speaker 8: fraud and provides the type of accountability that hardworking small 482 00:26:51,960 --> 00:26:55,800 Speaker 8: business owners deserve end quote. SBA would be required to 483 00:26:55,800 --> 00:26:58,679 Speaker 8: submit its reports every year as part of the President's 484 00:26:58,680 --> 00:27:02,760 Speaker 8: annual budget request to Congress. And that is the Bloomberg 485 00:27:03,000 --> 00:27:04,400 Speaker 8: Small Business Report. 486 00:27:05,680 --> 00:27:09,679 Speaker 1: This is Bloomberg Business of Sports from Bloomberg Radio. 487 00:27:10,840 --> 00:27:13,280 Speaker 3: Thanks for joining us on the Bloomberg Business of Sports, 488 00:27:13,320 --> 00:27:15,800 Speaker 3: where we explore the big money issues in the world 489 00:27:15,840 --> 00:27:18,920 Speaker 3: of sports at Michael Barr and I'm Randa Williams, Vanessa 490 00:27:18,960 --> 00:27:21,760 Speaker 3: Perdomo magleone is out of the booth this week, but 491 00:27:21,840 --> 00:27:25,040 Speaker 3: before she headed out, Randall, Vanessa and I spoke with 492 00:27:25,240 --> 00:27:30,320 Speaker 3: entrepreneur Chad Bronstein about finding a new wrestling league. Yes, Michael, 493 00:27:30,400 --> 00:27:33,240 Speaker 3: it's called Real American Freestyle. And Chad gave us his 494 00:27:33,320 --> 00:27:36,360 Speaker 3: take on how popular the wrestling community is and how 495 00:27:36,400 --> 00:27:38,520 Speaker 3: he wanted to give the athletes who compete in this 496 00:27:38,600 --> 00:27:40,639 Speaker 3: sport their whole lives a place to do it at 497 00:27:40,640 --> 00:27:43,880 Speaker 3: the professional level, and it's different from the highly choreographed 498 00:27:43,880 --> 00:27:46,439 Speaker 3: wrestling most people are used to seeing with of course, 499 00:27:46,840 --> 00:27:50,040 Speaker 3: the WWE. Let's take a listen into the conversation with 500 00:27:50,200 --> 00:27:54,520 Speaker 3: Chad Bronstein, co founder and CEO of Real American Freestyle, 501 00:27:54,760 --> 00:27:59,840 Speaker 3: recorded recently with Randall Vanessa and myself. Chad, Welcome to 502 00:27:59,880 --> 00:28:04,800 Speaker 3: the Bloomberg Business of Sports, Real American Freestyle. You have 503 00:28:04,880 --> 00:28:07,600 Speaker 3: to tell us what this is all about, sir, well. 504 00:28:07,880 --> 00:28:12,800 Speaker 2: Real American Freestyle is a professional freestyle wrestling league wrestling. 505 00:28:13,920 --> 00:28:17,000 Speaker 2: Everyone thinks wrestling WWE, but freestyle wrestling is actually the 506 00:28:17,040 --> 00:28:20,159 Speaker 2: oldest sport in the in the world. And what we 507 00:28:20,200 --> 00:28:23,520 Speaker 2: did was we created a league that gave the best athletes, 508 00:28:23,560 --> 00:28:26,600 Speaker 2: both men and women, in the stage to be seen 509 00:28:27,480 --> 00:28:30,240 Speaker 2: and really just put entertainment and production behind it. 510 00:28:31,080 --> 00:28:33,480 Speaker 5: So Chad tell us about how you know you're coming 511 00:28:33,480 --> 00:28:36,640 Speaker 5: into this space. Obviously, when people think of professional wrestling, 512 00:28:37,000 --> 00:28:40,160 Speaker 5: you know, wrestling after specific time and after college and 513 00:28:40,760 --> 00:28:45,280 Speaker 5: the Olympics is WWE style entertainment style wrestling. So tell 514 00:28:45,360 --> 00:28:47,960 Speaker 5: us what space you're going to be taking in the 515 00:28:48,040 --> 00:28:52,160 Speaker 5: combat sports, you know market, and how you found your 516 00:28:52,200 --> 00:28:53,480 Speaker 5: own niche within it. 517 00:28:54,320 --> 00:28:57,280 Speaker 2: Yeah, so we found you know, WE wrestling is very 518 00:28:57,280 --> 00:29:00,560 Speaker 2: popular in the United States and the world. Right, So 519 00:29:00,880 --> 00:29:03,960 Speaker 2: my son's actually nine and I wrestle my whole life 520 00:29:04,000 --> 00:29:06,440 Speaker 2: and then he started wrestling when he was seven, and 521 00:29:06,480 --> 00:29:08,280 Speaker 2: that's kind of what brought me back into the sport. 522 00:29:08,640 --> 00:29:10,760 Speaker 2: But there was a missing part of the sport, which 523 00:29:10,800 --> 00:29:13,400 Speaker 2: is when you go you wrestle in college and then 524 00:29:13,440 --> 00:29:15,880 Speaker 2: you go to the Olympics. That's really the only opportunities 525 00:29:16,240 --> 00:29:19,960 Speaker 2: they have. And so we created the professional component to it. So, 526 00:29:20,800 --> 00:29:23,240 Speaker 2: like you mentioned, you could have option to go WWE, 527 00:29:23,280 --> 00:29:25,160 Speaker 2: you can have option to go to the UFC, but 528 00:29:25,240 --> 00:29:28,360 Speaker 2: now you have the option to become a professional freestyle wrestling. 529 00:29:28,440 --> 00:29:31,360 Speaker 2: So it gives the best wrestlers in the world the 530 00:29:31,400 --> 00:29:34,200 Speaker 2: opportunity to compete and make money and be able to 531 00:29:34,200 --> 00:29:37,080 Speaker 2: sustain their lifestyles the same way other professional sports have. 532 00:29:37,640 --> 00:29:40,360 Speaker 2: And so we have a partnership with USA Wrestling. It's 533 00:29:40,440 --> 00:29:43,960 Speaker 2: very similar like the NBA or NHL is with their 534 00:29:44,160 --> 00:29:48,560 Speaker 2: Olympic organization, where you can have win Olympic goal medals 535 00:29:48,680 --> 00:29:51,960 Speaker 2: or win an RAF belt. But we're very at we're 536 00:29:52,080 --> 00:29:55,320 Speaker 2: very complimentary to both the UFC and to WW. We're 537 00:29:55,360 --> 00:29:56,240 Speaker 2: not competitors. 538 00:29:57,200 --> 00:29:59,840 Speaker 6: And with that in mind, I wonder how many rest 539 00:30:00,000 --> 00:30:03,280 Speaker 6: slers you expect to, you know, join your organization and 540 00:30:03,360 --> 00:30:06,360 Speaker 6: then go towards maybe the UFC of the PFL or 541 00:30:06,400 --> 00:30:09,280 Speaker 6: one championship. And also on the opposite end of that, 542 00:30:09,520 --> 00:30:13,640 Speaker 6: those same wrestlers who might be those same combat fighters 543 00:30:13,920 --> 00:30:16,360 Speaker 6: who might be at the tail end of their careers 544 00:30:16,560 --> 00:30:18,840 Speaker 6: joining your organization, how are you viewing that in terms 545 00:30:18,880 --> 00:30:19,640 Speaker 6: of free agency? 546 00:30:21,080 --> 00:30:24,200 Speaker 2: So we already have so when we started this league, 547 00:30:24,400 --> 00:30:27,080 Speaker 2: the thesis was if you were a UFC fighter or 548 00:30:27,120 --> 00:30:29,600 Speaker 2: a PFL fighter, you probably a lot of them had 549 00:30:29,640 --> 00:30:32,080 Speaker 2: wrestling backgrounds. So we knew that if we created a 550 00:30:32,160 --> 00:30:34,240 Speaker 2: league that a lot of them would reach out to 551 00:30:34,280 --> 00:30:36,360 Speaker 2: us and want to wrestle, and then vice versa. So 552 00:30:36,800 --> 00:30:39,120 Speaker 2: we have the number one, you know, we have Armin 553 00:30:39,160 --> 00:30:41,760 Speaker 2: Seroukian that really became famous on our stage. He was 554 00:30:41,840 --> 00:30:44,120 Speaker 2: second second in the world in the USC and then 555 00:30:44,160 --> 00:30:46,880 Speaker 2: wrestled for US against Lance Palmer. Lance Palmer is a 556 00:30:46,920 --> 00:30:49,880 Speaker 2: two time PFL champion but a four time All American 557 00:30:49,920 --> 00:30:52,960 Speaker 2: Ohio State and they wrestled, and then Arman became a 558 00:30:52,960 --> 00:30:55,920 Speaker 2: star on our stage. And then you see chamaiaf that's 559 00:30:55,960 --> 00:30:59,360 Speaker 2: wrestling in Saint Louis against Tony Ferguson, and Tony Ferguson 560 00:30:59,400 --> 00:31:01,840 Speaker 2: was an All America wrestler and Chamaiev was a European 561 00:31:02,320 --> 00:31:05,640 Speaker 2: Freestyle cham And you saw Michael Chandler wrestle for US, 562 00:31:05,640 --> 00:31:08,959 Speaker 2: who's also an All American, Kobe Covington against Chris Wyman. 563 00:31:09,400 --> 00:31:11,920 Speaker 2: Both of those were both of Kobe and Chris their 564 00:31:11,960 --> 00:31:14,040 Speaker 2: first love was wrestling and they were both All Americans 565 00:31:14,040 --> 00:31:14,680 Speaker 2: in college. 566 00:31:15,000 --> 00:31:15,760 Speaker 7: So you're seeing it. 567 00:31:16,000 --> 00:31:20,080 Speaker 2: You're seeing the cross promotion across both both the UFC, 568 00:31:20,320 --> 00:31:24,160 Speaker 2: PFL and Baron Knuckle, all those different organizations, a lot 569 00:31:24,200 --> 00:31:26,160 Speaker 2: of their athletes actually wrestle for our league. 570 00:31:26,440 --> 00:31:29,880 Speaker 3: We're talking with Chad Bronstein, entrepreneur, co founder and CEO 571 00:31:30,120 --> 00:31:33,400 Speaker 3: of Real American Freestyle Wrestling. What I like about this 572 00:31:33,960 --> 00:31:38,160 Speaker 3: is that it's kind of described as family friendly combat. 573 00:31:38,240 --> 00:31:41,960 Speaker 2: Explain that, Yeah, so there's no you can't punch in wrestling, right. 574 00:31:42,000 --> 00:31:45,560 Speaker 2: You're still getting a lot of action with throws and 575 00:31:46,640 --> 00:31:49,240 Speaker 2: a lot of fast paced wrestling, but there's no punching. 576 00:31:49,360 --> 00:31:51,320 Speaker 2: There's no, there's not It's not a blood sport, so 577 00:31:51,320 --> 00:31:54,440 Speaker 2: it's a family friendly sport. We have this new organization 578 00:31:54,480 --> 00:31:57,160 Speaker 2: called RAF NextGen, which is the best of the best 579 00:31:57,240 --> 00:31:59,880 Speaker 2: youth wrestlers. We have a long term deal with Fox 580 00:32:00,120 --> 00:32:03,720 Speaker 2: so it'll be the first consistent tournament series on Fox 581 00:32:03,840 --> 00:32:07,280 Speaker 2: Nation every Sunday after our main show every Saturday. 582 00:32:08,360 --> 00:32:10,160 Speaker 5: I wanted to ask you about that ched right, because 583 00:32:10,280 --> 00:32:13,160 Speaker 5: your deal with Fox Nation you just signed, you know, 584 00:32:13,240 --> 00:32:16,560 Speaker 5: at an extension on that tell us about how important 585 00:32:16,640 --> 00:32:19,240 Speaker 5: something like that is for an emerging league to sign 586 00:32:19,360 --> 00:32:24,400 Speaker 5: a multi year extension deal so early on in your existence. 587 00:32:25,520 --> 00:32:29,040 Speaker 2: Yes, it's pretty incredible, right. We were lucky when we 588 00:32:29,080 --> 00:32:31,760 Speaker 2: first started this, I met with Gavin Hadden over at 589 00:32:31,800 --> 00:32:34,640 Speaker 2: Fox and pitched him on this idea. Actually, Brian kill 590 00:32:34,720 --> 00:32:38,480 Speaker 2: Me introduced me to Gavin, and then I pitched Gavin 591 00:32:38,640 --> 00:32:41,480 Speaker 2: Lauren and they loved They loved the opportunity. We did 592 00:32:41,480 --> 00:32:44,200 Speaker 2: two shows with them to start, and then we became 593 00:32:44,200 --> 00:32:47,840 Speaker 2: the number one show quickly on Fox Nation, and then 594 00:32:47,880 --> 00:32:50,920 Speaker 2: We did a six show extension off of that after 595 00:32:50,960 --> 00:32:54,000 Speaker 2: that show and then continued to be the number one show, 596 00:32:54,080 --> 00:32:57,640 Speaker 2: then signed another twelve show extension from there, and then 597 00:32:57,680 --> 00:33:02,080 Speaker 2: recently just signed fourteen show extensions thirty four shows with Fox, 598 00:33:02,160 --> 00:33:04,440 Speaker 2: and then we also did a youth series that we 599 00:33:04,520 --> 00:33:07,800 Speaker 2: announced which is twelve shows, and then we also launched 600 00:33:08,000 --> 00:33:09,840 Speaker 2: kind of like a think of it like American Idol 601 00:33:09,880 --> 00:33:11,880 Speaker 2: in the Voice, but trying out to become the next 602 00:33:11,960 --> 00:33:14,560 Speaker 2: Raft Superstar, which is going to be another show that 603 00:33:14,680 --> 00:33:17,560 Speaker 2: launches in Cleveland and August. So it's a we're very 604 00:33:17,640 --> 00:33:20,440 Speaker 2: lucky on that partnership. Fox has been a great partner 605 00:33:20,440 --> 00:33:22,920 Speaker 2: for us. You know, they constantly promote the league and 606 00:33:23,000 --> 00:33:25,200 Speaker 2: so it's given us a big platform on top of 607 00:33:25,200 --> 00:33:28,000 Speaker 2: what we've been able to do on virality across social, 608 00:33:28,080 --> 00:33:30,720 Speaker 2: but having a partner like that is has been a 609 00:33:30,760 --> 00:33:32,080 Speaker 2: real big part of our success. 610 00:33:33,040 --> 00:33:35,320 Speaker 6: John, I want to stay on social and just read 611 00:33:35,360 --> 00:33:37,720 Speaker 6: some of the metrics because they're pretty staggering. Two hundred 612 00:33:37,800 --> 00:33:41,680 Speaker 6: billion earned media impressions, eight hundred and fifty million owned 613 00:33:41,680 --> 00:33:44,479 Speaker 6: social views, twenty thousand new followers per week in an 614 00:33:44,520 --> 00:33:46,800 Speaker 6: astounding seven point nine four engagement rate. 615 00:33:47,120 --> 00:33:48,440 Speaker 3: I wonder what do you attribute that to? 616 00:33:48,520 --> 00:33:50,440 Speaker 6: Do you think it's the product, do you think it's marketing, 617 00:33:50,440 --> 00:33:52,280 Speaker 6: do you think it's a combination of them both? Where 618 00:33:53,280 --> 00:33:54,320 Speaker 6: what do you attribute that to? 619 00:33:55,000 --> 00:33:57,960 Speaker 2: Yeah, well I think, you know, I think it's the product. 620 00:33:57,960 --> 00:34:00,600 Speaker 2: Like you know, obviously when you come to our shows 621 00:34:00,600 --> 00:34:03,560 Speaker 2: and you see, like Eric Bischoff's production is a great production. 622 00:34:03,880 --> 00:34:05,920 Speaker 2: He was the CEO of WCW for quite some time, 623 00:34:05,920 --> 00:34:09,279 Speaker 2: and his team, they're a greater production. And then is 624 00:34:09,520 --> 00:34:13,880 Speaker 2: our matchmaking Teamuzy than Askaring, Lance Plumber. We really just 625 00:34:13,920 --> 00:34:17,040 Speaker 2: create and really we create these unique matchups, right, the 626 00:34:17,080 --> 00:34:20,600 Speaker 2: matchups are really creating the buzz. And then our social 627 00:34:20,640 --> 00:34:23,480 Speaker 2: team is unbelievable. So if you see how we run it, 628 00:34:23,480 --> 00:34:26,319 Speaker 2: it's like a well ed machine. But every time we 629 00:34:26,520 --> 00:34:30,480 Speaker 2: have an event, we're constantly getting quite a bit of virality. 630 00:34:30,520 --> 00:34:32,720 Speaker 2: You would assume like ten or twelve of our videos 631 00:34:32,800 --> 00:34:35,600 Speaker 2: or cliffs go viral, and so social media has become 632 00:34:35,600 --> 00:34:39,200 Speaker 2: our real currency and how we're winning brand sponsorship deals, 633 00:34:40,080 --> 00:34:43,359 Speaker 2: how we're getting notoriety, how we're growing internationally, which we're 634 00:34:43,360 --> 00:34:46,640 Speaker 2: starting to go to different countries. So it's been you know, 635 00:34:46,680 --> 00:34:49,680 Speaker 2: it's a multi pronged approach and we have the best 636 00:34:49,680 --> 00:34:51,799 Speaker 2: team you know, I've ever worked with that's really just 637 00:34:51,840 --> 00:34:53,680 Speaker 2: been able to execute. 638 00:34:53,320 --> 00:34:55,839 Speaker 3: And I'm willing to bet. Also, another reason why you 639 00:34:55,880 --> 00:34:58,840 Speaker 3: guys are just killing it when it comes to social 640 00:34:58,880 --> 00:35:03,040 Speaker 3: media is because the league has a concurrent youth program 641 00:35:03,760 --> 00:35:07,000 Speaker 3: and you are drawing a lot of youngsters in there 642 00:35:07,440 --> 00:35:12,839 Speaker 3: into this kind of professional freestyle wrestling and tell us 643 00:35:12,880 --> 00:35:13,480 Speaker 3: more about that. 644 00:35:13,920 --> 00:35:16,680 Speaker 2: Yeah, so like again this is Bill like off of 645 00:35:16,920 --> 00:35:19,440 Speaker 2: my son, right in a sense of like seeing that 646 00:35:19,680 --> 00:35:22,960 Speaker 2: most of these great athletes, they don't have that one 647 00:35:23,000 --> 00:35:24,880 Speaker 2: in one connection as some of the other sports do 648 00:35:25,000 --> 00:35:28,800 Speaker 2: with the youth. Youth wrestling is huge, right, There's about 649 00:35:28,800 --> 00:35:31,600 Speaker 2: three million youth wrestlers I think thirty more percent more 650 00:35:31,640 --> 00:35:34,840 Speaker 2: participants than youth wrestling there's in the cross and so 651 00:35:34,920 --> 00:35:38,680 Speaker 2: it's a very popular sport. So this, you know, kids 652 00:35:38,680 --> 00:35:41,399 Speaker 2: are coming from all their clubs. Like wrestling's built off 653 00:35:41,400 --> 00:35:44,320 Speaker 2: of clubs, right, So you have you know, Ezy Style 654 00:35:44,480 --> 00:35:48,280 Speaker 2: Izzy Martinez, who's my co founder. My son was wrestling 655 00:35:48,280 --> 00:35:50,560 Speaker 2: for his club and he's got one of the best clubs, 656 00:35:50,920 --> 00:35:53,680 Speaker 2: and so most of the clubs across the United States 657 00:35:54,040 --> 00:35:56,600 Speaker 2: are coming as field trips with their kids. You know, 658 00:35:56,719 --> 00:35:59,719 Speaker 2: sixty kids, you're coming on a bus to RAF. So 659 00:35:59,719 --> 00:36:03,319 Speaker 2: it's a very big youth environment. And then that's why 660 00:36:03,320 --> 00:36:06,680 Speaker 2: we launch next Gen RAP next Gen. So a lot 661 00:36:06,719 --> 00:36:08,839 Speaker 2: of the kids were coming into our camps, they're coming 662 00:36:08,840 --> 00:36:10,239 Speaker 2: to the events, and they're saying, when can we have 663 00:36:10,280 --> 00:36:12,719 Speaker 2: a shot to wrestle on the big stage? And so 664 00:36:13,000 --> 00:36:15,200 Speaker 2: we heard it loud and clear, and so now they're 665 00:36:15,200 --> 00:36:18,719 Speaker 2: getting to compete in a tournament series and then there'll 666 00:36:18,719 --> 00:36:22,319 Speaker 2: be two events a year where those kids, the best 667 00:36:22,360 --> 00:36:24,479 Speaker 2: of the best, the number one but the belts holder 668 00:36:24,520 --> 00:36:26,920 Speaker 2: versus the number one contender, we'll get to wrestle on 669 00:36:27,000 --> 00:36:30,080 Speaker 2: the main stage, just like the RAF professional athletes do. 670 00:36:30,800 --> 00:36:32,920 Speaker 5: That's really interesting, I mean, can you tell us a 671 00:36:32,920 --> 00:36:35,400 Speaker 5: little bit about that next gen. It's really interesting to 672 00:36:35,400 --> 00:36:37,480 Speaker 5: me because when we're looking at other let's say, combat 673 00:36:37,480 --> 00:36:39,759 Speaker 5: sports and really get the WDE next Gen, you know, 674 00:36:39,840 --> 00:36:42,600 Speaker 5: these are already kind of professionals in a way, they're 675 00:36:42,640 --> 00:36:45,239 Speaker 5: already you know, past a certain age. But in this 676 00:36:45,360 --> 00:36:47,400 Speaker 5: you're talking about youth sports. So is it more of 677 00:36:47,440 --> 00:36:50,040 Speaker 5: an academy system like the way we see with soccer 678 00:36:50,520 --> 00:36:53,359 Speaker 5: or something like that, Like how would you relate it. 679 00:36:53,280 --> 00:36:59,160 Speaker 2: To It's very much like other sports like baseball, soccer, lacrosse, 680 00:36:59,160 --> 00:37:01,839 Speaker 2: where you have travel teams and club teams. You know, 681 00:37:02,120 --> 00:37:04,680 Speaker 2: you have you wrestle. When you're younger, you start off 682 00:37:04,680 --> 00:37:06,680 Speaker 2: at a club, right, so when you're eight years old 683 00:37:06,760 --> 00:37:09,400 Speaker 2: or seven years old even younger, you start off with 684 00:37:09,040 --> 00:37:12,319 Speaker 2: the local club and you wrestle if that if that 685 00:37:12,360 --> 00:37:14,520 Speaker 2: club is a good a good club, you're gonna do 686 00:37:14,520 --> 00:37:16,440 Speaker 2: with that club all the way up between you're probably 687 00:37:16,440 --> 00:37:18,319 Speaker 2: seven years old to eighteen year olds. You're always going 688 00:37:18,400 --> 00:37:20,760 Speaker 2: to have your high school coach and then your club 689 00:37:20,760 --> 00:37:22,480 Speaker 2: coach usually is going to be there with your high 690 00:37:22,480 --> 00:37:24,960 Speaker 2: school coach because they know how you wrestle. So it's 691 00:37:24,960 --> 00:37:28,480 Speaker 2: a very intrinsic environment. So it's a lot of a 692 00:37:28,520 --> 00:37:31,759 Speaker 2: lot of a lot of traveling, international traveling, but wrestling, 693 00:37:31,880 --> 00:37:37,320 Speaker 2: the youth wrestling movement is a very popular, uh environment, 694 00:37:37,520 --> 00:37:40,520 Speaker 2: and kids go. My son, for example, travels across the 695 00:37:40,520 --> 00:37:44,600 Speaker 2: country wrestling and tournaments. So we're because we bring because 696 00:37:44,640 --> 00:37:47,680 Speaker 2: our events are so popular and so many people come, 697 00:37:48,280 --> 00:37:50,760 Speaker 2: and we would you know, we just decided to extend 698 00:37:50,760 --> 00:37:53,400 Speaker 2: it one more day and give the kids the ability 699 00:37:53,440 --> 00:37:56,719 Speaker 2: to wrestle. Become the next RAF Youth Champion. 700 00:37:57,239 --> 00:37:59,560 Speaker 6: That was Chad bron Stinky is the co founder in 701 00:37:59,680 --> 00:38:02,560 Speaker 6: c of the Real American Freestyle. 702 00:38:02,920 --> 00:38:06,279 Speaker 3: Oh man, that's it for today. Thanks for joining us. 703 00:38:06,320 --> 00:38:08,200 Speaker 3: Tune in again next week for the latest on the 704 00:38:08,200 --> 00:38:10,719 Speaker 3: stories moving big old money in the world of sports. 705 00:38:10,840 --> 00:38:13,000 Speaker 6: And don't forget to catch our podcast on all your 706 00:38:13,040 --> 00:38:16,080 Speaker 6: podcast platforms, and go to Bloomberg dot com to subscribe 707 00:38:16,120 --> 00:38:18,680 Speaker 6: to the Bloomberg Business of Sports newsletter to stay up 708 00:38:18,719 --> 00:38:20,560 Speaker 6: to date on all our juicy insights. 709 00:38:20,719 --> 00:38:23,759 Speaker 3: You're listening to the Bloomberg Business of Sports from Bloomberg 710 00:38:23,880 --> 00:38:26,319 Speaker 3: Radio around the world, but stay with us. 711 00:38:26,600 --> 00:38:29,520 Speaker 6: Today's top stories and global business headlines are coming up 712 00:38:29,880 --> 00:38:30,640 Speaker 6: right now.