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Speaker 1: This is the business of sports. Should Major League Baseball

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Speaker 1: shorten up the season? How do we present football to

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Speaker 1: the audience of the future. I don't think that most

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Speaker 1: players understand the power that they have. Michael. The future

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Speaker 1: of IndyCar racing is looking bright. Scott Sashnak very basic

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Speaker 1: math here, more bidders means more money. Evan Nobody Williams,

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Speaker 1: the team value has essentially quadruples. And the leaders in

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Speaker 1: the sports industry time to bring in our guest, Al Stimbrunner,

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Speaker 1: National Hockey League Commissioner Gary Bettman, Atlanta Braves president Derek Schiller,

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Speaker 1: Patriots President Jonathan Kraft. Bloomberg Business of Sports from Bloomberg Radio. Hello,

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Speaker 1: I'm Scott, I'm Evan Nobody Williams, and I'm Michael Barr.

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Speaker 1: And this is the Bloomberg Business of Sports podcast where

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Speaker 1: you see Medina typed it out as a big we

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Speaker 1: but we know that Evan's not participating, So I wonder

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Speaker 1: why Medina did that. It's part of the script, That's

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Speaker 1: what I'm saying. So Evans should be in it because

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Speaker 1: it says it on the script. We we we bar

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Speaker 1: wearing his I called Peach, Edmon called Sam and shirt

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Speaker 1: today it's it's a salmon. Sure, it is a seven.

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Speaker 1: Want to tell everybody about your antiquing this weekend, Milford

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Speaker 1: just celebrated a toast to help Milford, Pennsylvania. Thank you.

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Speaker 1: That's that's what's where I live. And every year they

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Speaker 1: do this. So they have wine tasting and you go

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Speaker 1: to the shops and this and that whatever, blah blah

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Speaker 1: blah blah, which is very nice, now I should add.

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Speaker 1: And uh So we went antiquing and went into one

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Speaker 1: antique shop and there, well, let it be said, by

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Speaker 1: the way, you have your eye on a new television. Yes,

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Speaker 1: I'm saving my money for brand new television because I

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Speaker 1: want a nice flat screen better to watch NASCAR, right exactly.

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Speaker 1: But sitting there was an antique cash register like you

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Speaker 1: would see like in the Waltons It's Let's Go. It's

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Speaker 1: as an old TV show debut nineteen two, remember the

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Speaker 1: old good Night John Boy. Of course that's that's where

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Speaker 1: that's from. So and then they had the store there.

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Speaker 1: Everybody said good night to everybody in the family least

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Speaker 1: a good night to each other at the end of

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Speaker 1: the show. But this, but this cash register was cool

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Speaker 1: until we found out it was eighteen hundred dollars, and

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Speaker 1: then Linda stepped in and said, uh, oh, hell no,

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Speaker 1: that's I'm on the side. I'm on the side. And

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Speaker 1: you know then it was a neat cash register. But

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Speaker 1: I have to agree I couldn't buy it all right, Well, anyway,

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Speaker 1: people are people are up on your weekend. I thought

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Speaker 1: it was an important It was kind So let's let's

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Speaker 1: start with the Warriors. Uh, let's start with the first thing.

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Speaker 1: Let's talk about Rick Bolt's president and CEO of the Warriors,

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Speaker 1: looking into the team's future and media ambitions. Well, everybody's

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Speaker 1: looking at their future as broadcasters, as as content owners,

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Speaker 1: content creators. But it's interesting to hear Rick in a

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Speaker 1: in an OTT direct to consumer world. Remember when he

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Speaker 1: was on the program and he talked about no better time,

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Speaker 1: no better team for the arena. You could make the

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Speaker 1: same argument right now on a global bay cists with

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Speaker 1: how popular that team is, with how popular some of

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Speaker 1: the players are, that if you had let's say, a

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Speaker 1: Steph Curry cam following him around, people would pay to

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Speaker 1: see him drive to the game, drive home from the game.

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Speaker 1: What does he do in his off day that you

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Speaker 1: could make a compelling channel that fans would want to

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Speaker 1: watch you almost every way. The Warriors have capitalized financially

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Speaker 1: on the fact that they've become this dynasty within the NBA. Right,

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Speaker 1: they have a new one point three billion dollar arena

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Speaker 1: that's opening. Certainly, sponsorships are worth so much more than

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Speaker 1: they were back when the team was bad. Almost everything

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Speaker 1: about the Warriors ecosystem has gotten more expensive, except the

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Speaker 1: local TV deal. They're still on the deal that they

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Speaker 1: signed when they were a bad team. Right, it's the

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Speaker 1: nature of signing a long term deal. Um that's going

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Speaker 1: to change obviously in the next couple of years when

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Speaker 1: they renegotiate that deal. But they have to decide kind

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Speaker 1: of what direct and do they want to go. And

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Speaker 1: you can see the Lakers, another premium franchise. They get

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Speaker 1: over a hundred million dollars a year in their local rights. Uh.

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Speaker 1: The Knicks also get over a hundred million. They also,

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Speaker 1: you know, the ownership group that owns the Knicks also

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Speaker 1: owns that network. It's a you know, it's a it's

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Speaker 1: a big family that is beyond just the basketball team.

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Speaker 1: But the Warriors, as Scott said, they have a lot

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Speaker 1: of options coming up and that can be you know,

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Speaker 1: your traditional local media rights TV deal or it can

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Speaker 1: be your own company. See now I've got a problem

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Speaker 1: with what you were saying earlier about again what you want.

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Speaker 1: Even more so, I don't want to see Steph Curry

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Speaker 1: drive home from the game or what people want. But

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Speaker 1: but I want to see an isolated camera of Steph

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Speaker 1: Curry playing during the game. Well Twitter is giving you

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Speaker 1: that right now, yes, but that's what I want to see.

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Speaker 1: Speaking of Steph Curry right quick? Oh my, uh, let's

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Speaker 1: say he was a little bit off during the overtime

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Speaker 1: game against the Rockets, uh this past Saturday behind the

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Speaker 1: back drive downs. Now, let me tell you, bar, this

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Speaker 1: is what I'm talking about. So if you saw it

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Speaker 1: like he pretty much missed a layup dunk like yeah,

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Speaker 1: and I mean this is like you know your m

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Speaker 1: v P step Okay, after the game, surely he was

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Speaker 1: asked about it. What if in this O T T world,

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Speaker 1: what if the team had gone to him and said,

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Speaker 1: you know what, stuff, you can talk about the game whatever,

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Speaker 1: let's not address that particular play. We're gonna save that

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Speaker 1: for the team channel, and you're going to address that

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Speaker 1: play on the team channel. And then the next day

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Speaker 1: maybe he's in his driveway and he tries it again.

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Speaker 1: You know, I got it down. Everybody like look and

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Speaker 1: he pushes the content. How much would you pay if

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Speaker 1: you're a Warriors fan, if you're a Curry fan, what

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Speaker 1: would you pay per month to get sort of this exclusive,

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Speaker 1: behind the scenes added stuff that you can't get anywhere else. Look,

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Speaker 1: I like Steph Curry, but I wouldn't you for that? Okay?

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Speaker 1: What what would you What team? What player? What would

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Speaker 1: you like? Detroit? Let's say the Tigers offered you something

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Speaker 1: like that? All right, So let's say Andre Drummond alright, okay,

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Speaker 1: and all right, okay, let's let's say now I could

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Speaker 1: get Yes, I want to isolate a camera Drummond on

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Speaker 1: the court. You got it, all right, You got the

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Speaker 1: isolated iso of him walking in the arena, going home,

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Speaker 1: driving home. Whatever you want, you get your But I

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Speaker 1: don't want the home stuff. Love it once he comes

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Speaker 1: into the arena until he leaves. Give me that. You

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Speaker 1: know what I know right now about Michael Barr If

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Speaker 1: my eyes are shut, he is not under thirty. Yeah,

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Speaker 1: I was gonna say I'm with you, Bar. The bigger question, obviously,

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Speaker 1: is how many people out there are willing to pay.

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Speaker 1: Let's let's just say one dollar a month. Let's just

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Speaker 1: say one dollar a month on a global scale. How

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Speaker 1: many people around the world could I get for this channel?

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Speaker 1: If I'm a Golden State worst put it all in

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Speaker 1: my I'm sure there are a lot of people out

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Speaker 1: there that don't have a life and they want to

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Speaker 1: go and follow Steph. I'm sorry, I don't want to

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Speaker 1: see Steph Curry drive home. And I don't want to

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Speaker 1: see it. I do not want to see it. Let

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Speaker 1: the man. What was the name of that movie? Remember

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Speaker 1: the Gym Carrey movie that it was just a nice Yeah,

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Speaker 1: the Truman Show. Well, didn't it? Well this because it

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Speaker 1: was a movie. I don't want to see that. Life

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Speaker 1: imitates otomotive on. All right, you're moving on here anyway.

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Speaker 1: Mid Atlantic Sports Network they have resolved a problem with

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Speaker 1: the Orioles. The Orioles controlled mid Atlantic Sports Network. They

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Speaker 1: must pay the Nationals. I'm sorry, I said, you know,

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Speaker 1: the Orioles. This has been a fight that has been

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Speaker 1: going on four years. As part of they're agreeing, the

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Speaker 1: Orioles agreeing to give up the Washington territory to the

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Speaker 1: Nationals because when the expos moved. They had to get

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Speaker 1: the okay from the Orioles. They got the right to

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Speaker 1: control a majority of the television network that shows both

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Speaker 1: the Orioles and the Nationals. But after a while, when

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Speaker 1: the value of sports rights shot up, the Nationals said,

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Speaker 1: you know what, we think we're getting jobbed here. We

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Speaker 1: are not getting anywhere near market value for what we

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Speaker 1: could get on the open market. And Mr Novi Williams

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Speaker 1: guess what seems like others agree with them. Yeah, this

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Speaker 1: is a ruling from a closed ruling. But the Baltimore Sun,

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Speaker 1: I believe, got some details of ruling of an MLB

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Speaker 1: arbitration panel. It's all Major League Baseball owners and exactle

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Speaker 1: so essentially from the date two thousand twelve to two

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Speaker 1: thousand sixteen, I believe is the five year span. Uh.

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Speaker 1: This panel says that the that that that mass in

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Speaker 1: the mid Atlantic Sports network owes the Nationals, you know,

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Speaker 1: tens of millions of dollars. Their estimate is that it

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Speaker 1: will end up to be between sixty and seventy million dollars, essentially,

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Speaker 1: as you said, Scott By, you know, making up for

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Speaker 1: the difference in what they probably should have been paid

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Speaker 1: versus what they what they were paid. Um, but you're right,

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Speaker 1: and this the dates here date back to two thousand twelve.

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Speaker 1: The real kind of fight dates back to two thousand

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Speaker 1: five when when the Expos moved from Montreal to Washington,

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Speaker 1: d c. Um. And yeah, this is this is not

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Speaker 1: a looking an amount of money that is now being

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Speaker 1: taken away and being taken away that the Orioles will

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Speaker 1: not reap. I should say, it's not an insignificant amount

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Speaker 1: of money. And you wonder moving forward what the implications

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Speaker 1: might be. And it won't change the ownership structure at all, right,

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Speaker 1: as it is right now the oriole zone of the

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Speaker 1: of the television network and the and the Nationals on

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Speaker 1: the other. Um. But yeah, it's it's certainly. And baseball

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Speaker 1: operates differently from a lot of other sports in terms

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Speaker 1: of like the importance of local revenue and the importance

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Speaker 1: of local TV revenue. Right, So, so if the money

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Speaker 1: the Orioles thought they were making from their ownerships taken

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Speaker 1: mass and if that shifts down considerably, that could have

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Speaker 1: kind of serious ramifications on you know, the business structure.

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Speaker 1: If like, yeah, I mean they might appeal YadA YadA,

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Speaker 1: but if you look at the market value and what

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Speaker 1: has happened with sports television rights, one could, I would think,

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Speaker 1: easily assess that the Nationals on the open market could

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Speaker 1: have gotten and there's an option here for the Orioles

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Speaker 1: to appeal. I don't believe there's been a decision made

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Speaker 1: on that yet, but I wouldn't be shocked. And the

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Speaker 1: Orioles have for a while asked for this to be

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Speaker 1: ruled on by an arbitrator that was not part of

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Speaker 1: the Major League Baseball ecosystem, so they may be pushing

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Speaker 1: to try to get this thing appealed to an independent arbitrator.

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Speaker 1: All right, let me step back for a second, and

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Speaker 1: is this like renegotiating a deal that has already been done?

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Speaker 1: So why is this allowed to happen now? I mean,

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Speaker 1: once you signed the paper, thank you, Thank you, mister Angelos.

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Speaker 1: I'm just saying, once you sign the paper, that's it. Man.

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Speaker 1: It's like, well, one can argue about what market value

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Speaker 1: is at a time. Um, you need to see the

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Speaker 1: specific language in the contract, of course, but I can

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Speaker 1: tell you from day one, having one team own the

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Speaker 1: majority the network, showing both aims and allocating a certain

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Speaker 1: dollar figure, it didn't take a genius to say this

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Speaker 1: at some point could be problematic. It just happened more

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Speaker 1: quickly than anybody thought. Yeah. And to further answer your question,

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Speaker 1: like called the from what I understand, and I don't

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Speaker 1: understand all the details, but I think there are kind

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Speaker 1: of two parts of this. There is one the part

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Speaker 1: about how much the Orioles or how much Masson was

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Speaker 1: paying the Nationals for the rights to their games. And

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Speaker 1: then there was another part about profit sharing and the

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Speaker 1: accounting by which those profits were and they're still fighting

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Speaker 1: about whether they're they're still proper ka um. So yeah,

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Speaker 1: I think that's kind of how you get, you know,

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Speaker 1: you get the situation where six years later you're still

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Speaker 1: arguing about what was owed to a team, um, even

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Speaker 1: though there is I'm sure our contract of some nature

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Speaker 1: that that has some of this written in stone. Let's

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Speaker 1: talk about the x f L. Vince McMahon's reboot of

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Speaker 1: the XFL struck television deals with Fox and Walt Disney

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Speaker 1: and we'll make its debut one week after next year's

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Speaker 1: Super Bowl. Or what's the most important thing if you're

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Speaker 1: gonna start a sports league, what's the most important thing

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Speaker 1: you've got to solidify the product. Well, of course, I'm sorry,

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Speaker 1: I overstepped the obvious. After that, what's the most important thing?

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Speaker 1: You need? A media deal? Yes, Um, the A a

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Speaker 1: F media deal was sometimes a little digital heavy, not

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Speaker 1: easy to find. Vince McMahon learned a little something. Um, yeah, Evan,

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Speaker 1: you wrote a few graphs on this. It's it's a

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Speaker 1: it's a network friendly over the air TV. There is

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Speaker 1: some cable component too, but you're gonna be able to

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Speaker 1: find your XFL if you want it. Yeah. More than

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Speaker 1: half of the of the regular season games are going

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Speaker 1: to be on broadcast television networks. Um, that's and that's ABC,

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Speaker 1: and that's Fox. The rest of them are going to

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Speaker 1: be on those cable affiliates ESPN and ESPN two and

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Speaker 1: then FS one and FS two. But I agree with you, Scott.

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Speaker 1: The the ability to get more than half of your

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Speaker 1: regular season games on over broadcast network is a rate

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Speaker 1: result for the XFL. UM. The final, the championship game

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Speaker 1: is going to be on on Sunday, April ESPN. UM.

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Speaker 1: But more so, they've laid out and this is kind

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Speaker 1: of what the a F did as well. There's a

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Speaker 1: very strict structure to the way these games are going

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Speaker 1: to be played, right, there's two games on Saturday, two

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Speaker 1: games on Sunday, a team league. Everyone's playing every week.

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Speaker 1: But that's the way they're they're structuring it, which I

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Speaker 1: think is interesting. I mean, I think it's probably a smart,

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Speaker 1: smart way to do it. I would like to see

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Speaker 1: the helmet camp always. They gotta they have to have that.

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Speaker 1: They should have to help have a player drive home

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Speaker 1: with the helmet camp right back, alright, right back, then

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Speaker 1: right back there. It's gonna be cool though. I like it.

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Speaker 1: Another small note for people who are wondering. According to

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Speaker 1: Sports Business Journal, there's no rights fee being paid here, right,

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Speaker 1: so so ESPN and Fox Sports they're not paying anything

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Speaker 1: to the XFL to do this. They're covering the costs

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Speaker 1: of the production of the games, which is about dollars

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Speaker 1: a game. But it's like, you know, these companies are

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Speaker 1: are ponying up a big upfront fee to get their

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Speaker 1: hands on XFL rights. I'm hoping that this reboot works because,

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Speaker 1: as we all know, the the a a F JUSTO

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Speaker 1: and I still the a F doesn't need that cash

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Speaker 1: register either. Essentially a print story. It's coming back to

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Speaker 1: the league. That's why I brought it back to where

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Speaker 1: we start full circle, bar Ching, this is the Bloomberg

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Speaker 1: Business of Sports podcast. You don't know what Scott's talking about.

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Speaker 1: You gotta go back to the beginning. Listen to the

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Speaker 1: beginning of the show. I'm Michael bar along with Scott

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Speaker 1: Sash and Evan W. Williams joining us again at the

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Speaker 1: end of the week when we speak with the biggest

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Speaker 1: and brightest in the sports business industry. I think Evan

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Speaker 1: just want to rub above my line like there was

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Speaker 1: a week, there's a we're here. It's every Monday, Wednesday, Thursday.

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Speaker 1: All know it because you listen to the show. You

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Speaker 1: know who listens to the show. By the way, barn

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Speaker 1: says hello, and I hope he reaches out now. Brian Herbst,

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Speaker 1: NASCAR Senior VP Overseas Broadcasting Innovation, says he's a loyal,

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Speaker 1: loyal listener to the show. Um, and was very happy

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Speaker 1: that you are big NASCAR, huge NASCAR. In fact, I

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Speaker 1: gotta get home because uh, they're running the over race

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Speaker 1: at noon. It was washed out Sunday. Yeah we didn't

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Speaker 1: because I wasn't. Did you guys talk about NASCAR in

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Speaker 1: the betting? NASCAR is jumping on this sports betting train.

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Speaker 1: They're gonna have a lot of in race products, you know,

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Speaker 1: the data analytics and the algorithms will spin and you're

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Speaker 1: gonna have prop bets. I think it's something you're gonna love.

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Speaker 1: But I did a minute Business of Sports on that. Cool,

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Speaker 1: but we didn't get to talk about it during that.

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Speaker 1: Do the end, do the inline again? Oh hey, you

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Speaker 1: are listening to Bloomberg The Bloomberg Business of Sports and

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Speaker 1: Bloomberg Radio around the world and online where you get

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Speaker 1: your podcasts.