WEBVTT - Former NFL Head Coach Brian Billick Recaps the Draft

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<v Speaker 7>on the latest episode of the Deal with Alex Rodriguez

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<v Speaker 7>have their new QB and now they're hoping to have

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<v Speaker 7>Ahead on the Bloomberg Business of Sports. But we start

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<v Speaker 7>with the NFL and the draft.

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<v Speaker 9>With the first pick in the twenty twenty four NFL Draft,

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<v Speaker 9>the Chicago Bears select Caleb Williams, quarterback.

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<v Speaker 7>Tell the California that's USC quarterback Caleb Williams going number

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<v Speaker 7>one overall. Jump starting this year's draft. To take us

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<v Speaker 7>through everything that happened draft night, where things stand for

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<v Speaker 7>the league, we welcome NFL Network analyst and former NFL

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<v Speaker 7>head coach Brian Bellick. Brian, welcome to the Bloomberg Business

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<v Speaker 7>of Sports.

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<v Speaker 3>Thank you for having me. Always an exciting time. We're

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<v Speaker 3>talking about adding talent into the NFL.

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<v Speaker 7>Yeah, well, my first thought, what do you think about

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<v Speaker 7>the draft?

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<v Speaker 3>Well, first you got to you gotta what a spectacular event.

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<v Speaker 3>I mean, over seven hundred people in Detroit. I don't know, broken.

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<v Speaker 3>It's amazing to me that the ratings on particularly that

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<v Speaker 3>first night, they upwards of twelve thirteen million people. That's

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<v Speaker 3>more than the NBA or NHL playoff games. Games. And

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<v Speaker 3>now I sound like Alan Igerson, but we're talking about games, right,

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<v Speaker 3>compared to a show that's nothing more than really making

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<v Speaker 3>a list. So you know, the energy and the interest

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<v Speaker 3>in it is. It's unbelievable, Brian.

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<v Speaker 8>I mean, you are right in Michael Barr's warehouse talking

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<v Speaker 8>about Detroit, the city of Detroit. I mean, oh my god,

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<v Speaker 8>I have a tear in my eye thinking about it.

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<v Speaker 8>But you know, let's go through the draft. I mean,

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<v Speaker 8>some winners, some losers. I mean I'm looking at the

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<v Speaker 8>Eagles and Chiefs and they look stronger to me on paper.

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<v Speaker 8>And then you've got some of the other teams out there,

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<v Speaker 8>the Falcons, the Raiders, the Vikings, all of them are

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<v Speaker 8>taking quarterback. But you know, I look back at what

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<v Speaker 8>they've done and I'm like, what is going on here, Brian,

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<v Speaker 8>help us out.

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<v Speaker 3>Well, any time you bring that many quarterbacks and this

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<v Speaker 3>was a record number of quarter taken in the first

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<v Speaker 3>twelve picks. The thing that I always look at and

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<v Speaker 3>beyond whether it's the right pick or none, and whether

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<v Speaker 3>it's going to be good or not. I mean, tradition

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<v Speaker 3>tells us that fifty percent of these guys are going

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<v Speaker 3>to fail. And that's just the way it is in

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<v Speaker 3>the NFL, which is amazing. You think of the analytics

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<v Speaker 3>and the experience we have, but it's such unique position

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<v Speaker 3>and when you're taking six guys in the first twelve picks. Yeah,

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<v Speaker 3>it increases the numbers. And what it does is it

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<v Speaker 3>pushed a lot of really good football players down to

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<v Speaker 3>the draft, down further than the draft guys that you

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<v Speaker 3>would nowhere in a million years. You're a Jet fan.

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<v Speaker 3>They got that good tackle from Penn State. There's no

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<v Speaker 3>way he's outside of a top ten pick on a

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<v Speaker 3>normal year. But because of the quarterbacks and the receivers

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<v Speaker 3>that were taken, you had guys like that push down.

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<v Speaker 3>Brock Bauers from Georgia gets pushed down to the Raiders.

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<v Speaker 3>The big rush edge guy Dallas Turner gets pushed to

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<v Speaker 3>the Vikings at number seventeen. I mean, there's no way

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<v Speaker 3>in a normal draft that a talent like Dallas Turner

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<v Speaker 3>is going to get pushed down to the seventeenth pick.

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<v Speaker 3>So this was a really good, solid draft for a

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<v Speaker 3>lot of teams, not the least of which is the

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<v Speaker 3>fact is that quarterbacks receivers push so many good players

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<v Speaker 3>down the draft board.

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<v Speaker 7>Let's go back to nineteen seventy seven and you were

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<v Speaker 7>selected eleventh in the eleventh round by the San Francisco

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<v Speaker 7>forty nine ers. My wife would love that. By the

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<v Speaker 7>way that's her team. But my goodness, from nineteen seventy

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<v Speaker 7>seven until today, I can't eat. This is going to

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<v Speaker 7>sound like a simple thing question, But how much has

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<v Speaker 7>it changed the NFL Draft?

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<v Speaker 3>You know, it's interesting, certainly obviously, and there's there weren't

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<v Speaker 3>even eleven round you know, back then. Now I would

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<v Speaker 3>be an undrafted free agent right because it only goes

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<v Speaker 3>through the top seven rounds and then and then you

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<v Speaker 3>get into a whole nother layer of it. I think

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<v Speaker 3>the biggest change the game itself the evaluation of talent. Certainly,

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<v Speaker 3>like everything, it's be become more mechanized, it's become more

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<v Speaker 3>data driven. But at the end of the day, it

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<v Speaker 3>still is that combination that art, science of experience, intuition

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<v Speaker 3>along with the data in choosing these players. The difference

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<v Speaker 3>is the attention. We just talked about the draft. There

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<v Speaker 3>are so many people focused into draft, better than sixty

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<v Speaker 3>million people over the three days, and they're all fantasy

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<v Speaker 3>league driven guys. My eight year old grandson can sit

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<v Speaker 3>here and tell you every team, every quarterback, receiver, running

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<v Speaker 3>back what he did. And so everybody is so focused

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<v Speaker 3>on these players coming in because they're getting cranked up

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<v Speaker 3>for the fantasy league. That interest and the level of

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<v Speaker 3>interest is it's why the NFL just blows the doors

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<v Speaker 3>off any other league.

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<v Speaker 8>So, Brian, fast forward. My son is nineteen years old,

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<v Speaker 8>and believe me, he was playing fantasy since he can crawl.

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<v Speaker 8>And he is the one who brought it to my attention. Right,

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<v Speaker 8>are you ready for this? Joe Burrow's record setting deal

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<v Speaker 8>with the Bengals pays him fifty five million a year

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<v Speaker 8>in Cincinnati to be their quarterback. And then you've got

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<v Speaker 8>Caleb Williams, who's going to be the highest paid rookie

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<v Speaker 8>out of this year's class, obviously quarterback USC He's going

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<v Speaker 8>to be making eight million a season. So here's the

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<v Speaker 8>deal that differential. I mean, my son's explained it. He's

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<v Speaker 8>like Dad, the Texans have CJ.

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<v Speaker 7>Stroud.

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<v Speaker 2>You don't understand they can shoot for the moon.

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<v Speaker 8>And so explain to me and our audience a little

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<v Speaker 8>bit about that concept of these teams like the Jets

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<v Speaker 8>a few years back spent breaking the bank for a quarterback,

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<v Speaker 8>only to release him a few years later for pennies

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<v Speaker 8>on the dollar. I mean, talk to us a little

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<v Speaker 8>bit about how this impacts general managers Joe Douglas, Eric

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<v Speaker 8>Deacosta in Baltimore, your old shop, talk to us about

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<v Speaker 8>what they're thinking inside the war room.

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<v Speaker 3>Well, it's a lot because when you're talking about taking quarterback,

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<v Speaker 3>and there were six taken in the first round. The

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<v Speaker 3>difference being in the old day, these rookie contracts were huge,

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<v Speaker 3>huge contracts. They've gotten that under control now. That's why

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<v Speaker 3>there's a differentiation between guys that have been in the

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<v Speaker 3>league that are waiting for that second contract and the rookies.

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<v Speaker 3>That's what makes them so attractive that you can be

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<v Speaker 3>particularly if you hit it and if a Caleb Williams

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<v Speaker 3>or a Jayden Daniels or Drake may hit it with

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<v Speaker 3>Chicago or Washington, New England or any of these quarterbacks,

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<v Speaker 3>that's a huge plus because you're playing on their rookie money, which,

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<v Speaker 3>like you said, you know, eight million dollars a year

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<v Speaker 3>is It's not like we've got to go start a

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<v Speaker 3>go Fundme page for these guys. They're doing okay, but

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<v Speaker 3>they're really waiting obviously for that next contract. Now you're

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<v Speaker 3>talking about that onion one hundred and fifty two hundred

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<v Speaker 3>million guaranteed money, that next level of contract that we

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<v Speaker 3>just saw Lamar Jackson get from last year. So the

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<v Speaker 3>rookie cap, which is a good thing because before the

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<v Speaker 3>rookie cap came in, you were you having to do

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<v Speaker 3>a lot, huge, huge amounts of moneys to the rookies

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<v Speaker 3>who hadn't played it down in the NFL. Now that

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<v Speaker 3>money gets pushed to the veterans, those that have already

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<v Speaker 3>played and shown in the league. The rookie contracts typically

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<v Speaker 3>will go forward maybe five years if they have an

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<v Speaker 3>option year, good solid payday, but it's not the payday

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<v Speaker 3>that's going to be they get to that second contract.

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<v Speaker 3>So that's why the differentiation the number right now, and

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<v Speaker 3>why you know the rookies that are so valued because

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<v Speaker 3>they get to play on that rookie number compared to

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<v Speaker 3>what you got to play the veteran. I think the

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<v Speaker 3>cap this year is going to be maybe off a

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<v Speaker 3>little bit, two hundred and seventy million. You would think

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<v Speaker 3>that would be enough to pay your fifty three players,

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<v Speaker 3>but I mean, now it's amazing. It's amazing how because

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<v Speaker 3>on typically typically eight, nine, ten players will gobble up

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<v Speaker 3>seventy percent of that cap number. So it really is

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<v Speaker 3>a money game in terms of how you're doueling out

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<v Speaker 3>this money, and you can see by those numbers that

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<v Speaker 3>when you've got your quarterback, particularly if he's a good

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<v Speaker 3>one and he's playing on his rookie numbers, he's not

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<v Speaker 3>one of that that that eight, nine, ten guys that

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<v Speaker 3>are taking up seventy percent of the cap. It's a

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<v Speaker 3>real asset because now you have those other moneies to

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<v Speaker 3>go give to other athletes.

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<v Speaker 7>Well, speaking of college athletes, let's talk about something that

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<v Speaker 7>has just reverberated through the entire collegiate world of sports,

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<v Speaker 7>and that's NIL, which we all know stands for needs

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<v Speaker 7>infinite loop. And I'm just amazed it has changed everything.

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<v Speaker 7>In fact, it's supposed to be a factor why Nick

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<v Speaker 7>Saban decided, now am I going to come back as

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<v Speaker 7>Alabama coach? That's the story your thoughts about NIL.

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<v Speaker 3>The NIL combined with the portal is a travesty right now.

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<v Speaker 3>It's a cesspool. And I appreciate the Nick Sabans and

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<v Speaker 3>the Mike Krzyzewski's of the world when they were retired,

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<v Speaker 3>said guys, we got to get this under control because

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<v Speaker 3>right now this is not good. It's not good for

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<v Speaker 3>college football. It's really not good for the athletes, because

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<v Speaker 3>at the end of the day, this nil money that's

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<v Speaker 3>going to get so focused on the front end, it's

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<v Speaker 3>going to cost lesser programs to fold up on the

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<v Speaker 3>back end, and that's not good. They've got to get

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<v Speaker 3>it under control. The portal compounds it. It's got to

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<v Speaker 3>get some kind of structure to it. They want to

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<v Speaker 3>be like the NFL model than be like the NFL model.

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<v Speaker 3>You got to put a cap on it. You got

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<v Speaker 3>to put a specific time on the portal. Right now,

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<v Speaker 3>it's the wild wild West. I don't know who's in

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<v Speaker 3>charge of it, but it's embarrassing and it's a cesspool

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<v Speaker 3>for college football.

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<v Speaker 8>Coach Billick, when you won your first championship in Baltimore

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<v Speaker 8>back I believe in two thousand over the New York Giants,

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<v Speaker 8>you know, you were known as an offensive mastermind. Yet

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<v Speaker 8>we all know it was that defense. I mean, I

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<v Speaker 8>mean wow, I mean ray Lewis and the whole smash.

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<v Speaker 8>But you had six coaches on your staff that went

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<v Speaker 8>to coach other teams, and you know, I just want

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<v Speaker 8>to go back to that concept of the quarterback and

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<v Speaker 8>shooting for the moon, taking these rookies. Hopefully it's the

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<v Speaker 8>next CJ. Stroud, or having a real coaching staff in

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<v Speaker 8>place to develop the quarterback over a period of time

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<v Speaker 8>to give them a year. I mean, are we beyond

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<v Speaker 8>that now? I mean, is that even? I mean, when

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<v Speaker 8>you hire a coaching staff your quarterbacks coach your offense.

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<v Speaker 8>I mean, I mean does that even matter in today's

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<v Speaker 8>day and age where it's win now? Show me now?

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<v Speaker 8>I mean, do we even have time with these contracts

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<v Speaker 8>in the way the NFL is set up to coach

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<v Speaker 8>up these young quarterbacks and make them starters in the NFL.

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<v Speaker 3>It's tougher and tougher, but certainly that element. I wrote

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<v Speaker 3>a book called the Q Factor, which looked at the

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<v Speaker 3>twenty eighteen draft where we had five quarterbacks and typical

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<v Speaker 3>to chalk, you know, two of the five turned out

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<v Speaker 3>to be okay. You know, that was the year that

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<v Speaker 3>we had Sam Darnold and Josh Allen and Lamar Jackson,

0:11:27.160 --> 0:11:32.679
<v Speaker 3>Josh Rosen and again same thing. It's a fifty to

0:11:32.760 --> 0:11:35.880
<v Speaker 3>fifty crap shoot. When we looked at that draft and

0:11:35.960 --> 0:11:39.439
<v Speaker 3>subsequent drafts, the biggest challenge in taking the quarterback one

0:11:39.559 --> 0:11:44.240
<v Speaker 3>is okay, can the the ability to translate from college

0:11:44.240 --> 0:11:47.319
<v Speaker 3>to the NFL. That's always the toughest question, but also

0:11:47.640 --> 0:11:50.080
<v Speaker 3>one of the misses happened is where you misalign with

0:11:50.160 --> 0:11:53.200
<v Speaker 3>the style of play, or maybe you get on a

0:11:53.200 --> 0:11:55.559
<v Speaker 3>cycle where you go through a number of different coaches.

0:11:56.880 --> 0:11:59.240
<v Speaker 3>That's going to be a factor as well. So if

0:11:59.240 --> 0:12:02.160
<v Speaker 3>you can get to build at the coaching position, stability

0:12:02.200 --> 0:12:04.320
<v Speaker 3>in the system and now have a very clear vision

0:12:04.360 --> 0:12:07.679
<v Speaker 3>of what you want at the core. At the core

0:12:08.000 --> 0:12:11.040
<v Speaker 3>abilities of quarterback. Baker Mayfield is one that was spake

0:12:11.240 --> 0:12:13.480
<v Speaker 3>escaping my mind. Who is the number one pick overall

0:12:13.480 --> 0:12:15.520
<v Speaker 3>in twenty eighteen and you have I don't want to

0:12:15.520 --> 0:12:18.640
<v Speaker 3>say he's a bust, but obviously obviously did not perform

0:12:18.760 --> 0:12:21.400
<v Speaker 3>at the number one overall pick level, but he went

0:12:21.440 --> 0:12:23.800
<v Speaker 3>through He's been through like six and seven different coordinators.

0:12:23.840 --> 0:12:26.800
<v Speaker 3>That is a strong factor in terms of developing this

0:12:26.880 --> 0:12:27.439
<v Speaker 3>talent in the.

0:12:27.440 --> 0:12:31.240
<v Speaker 7>NFL set tight. We've got more with former NFL head

0:12:31.280 --> 0:12:33.640
<v Speaker 7>coach Brian Billick on the way next.

0:12:33.480 --> 0:12:35.560
<v Speaker 3>Both the NFC and the AFC. I think it's going

0:12:35.640 --> 0:12:38.240
<v Speaker 3>to be wide open going into next year. We're so

0:12:38.440 --> 0:12:41.400
<v Speaker 3>deep in good quarterback play probably is as good that

0:12:41.600 --> 0:12:44.920
<v Speaker 3>we've ever been in the NFL. You follow that trail,

0:12:45.480 --> 0:12:48.920
<v Speaker 3>I think we've had more teams that are legitimately in

0:12:48.960 --> 0:12:51.200
<v Speaker 3>the Super Bowl mix than we've had at any any

0:12:51.200 --> 0:12:52.520
<v Speaker 3>given time, and that's exciting.

0:12:52.679 --> 0:12:55.960
<v Speaker 7>You're listening to Bloomberg Business of Sports from Bloomberg Radio.

0:12:56.080 --> 0:13:03.960
<v Speaker 7>Around the world, you're listening to Bloomberg Business of Sports

0:13:04.160 --> 0:13:08.720
<v Speaker 7>from Bloomberg Radio. This is the Bloomberg Business of Sports show,

0:13:08.760 --> 0:13:10.680
<v Speaker 7>but we explore the big money issues in the world

0:13:10.720 --> 0:13:13.680
<v Speaker 7>of sports. I'm Michael Barr along with Damian Sas. Hour

0:13:14.160 --> 0:13:17.679
<v Speaker 7>Scarlett will be back on later. We're talking with NFL

0:13:17.760 --> 0:13:21.360
<v Speaker 7>analysts and former NFL ahead coach Brian Billick. Let's dive

0:13:21.480 --> 0:13:22.800
<v Speaker 7>back into that conversation.

0:13:23.000 --> 0:13:25.440
<v Speaker 8>Coach Bilk, I have to ask you this. We've moved

0:13:25.480 --> 0:13:27.760
<v Speaker 8>through free agency. There's some guys left out there, but

0:13:27.800 --> 0:13:29.559
<v Speaker 8>for the most part, you know, we're through with that.

0:13:29.600 --> 0:13:32.760
<v Speaker 8>We've now just completed the draft. You know, I'm looking,

0:13:32.840 --> 0:13:35.720
<v Speaker 8>I mean, I know, I know Michael Barr is looking

0:13:35.720 --> 0:13:37.720
<v Speaker 8>at his FanDuel account. He's trying to figure out who's

0:13:37.720 --> 0:13:39.920
<v Speaker 8>going to win the Super Bowl next year. I'm looking

0:13:39.960 --> 0:13:42.000
<v Speaker 8>at the odds out there. The Niners, the Chiefs, the

0:13:42.080 --> 0:13:44.720
<v Speaker 8>Ravens are all up there. The Lions too. Michael Barr

0:13:45.240 --> 0:13:47.120
<v Speaker 8>the Lions too. But talk to us a little bit,

0:13:47.160 --> 0:13:50.440
<v Speaker 8>Coach Bilk, which teams have improved their status the most

0:13:50.480 --> 0:13:52.520
<v Speaker 8>of this offseason? Who are you looking for here in

0:13:52.559 --> 0:13:53.280
<v Speaker 8>twenty twenty four?

0:13:53.400 --> 0:13:55.800
<v Speaker 3>Well, right now, they're all excited, they're all good. Everybody

0:13:55.840 --> 0:13:57.440
<v Speaker 3>gets to know, and everybody's going to the super Bowl

0:13:57.559 --> 0:14:01.720
<v Speaker 3>right now. That's the exciting fans and the teams and

0:14:01.960 --> 0:14:05.160
<v Speaker 3>certainly the ones. Buffalo obviously right there on the custom

0:14:05.200 --> 0:14:07.520
<v Speaker 3>of But I think Dallas is flirting with it. They're

0:14:07.520 --> 0:14:10.600
<v Speaker 3>going to make the next move. A team like Green

0:14:10.679 --> 0:14:12.960
<v Speaker 3>Bay is interesting to me to see Jordan Love can

0:14:13.040 --> 0:14:15.520
<v Speaker 3>he indeed, he showed that he could take that next step?

0:14:15.559 --> 0:14:19.680
<v Speaker 3>Can he go even further? In that standpoint? I think

0:14:19.760 --> 0:14:23.040
<v Speaker 3>Cincinnati with a healthy Joe Burrow can get back into

0:14:23.080 --> 0:14:25.880
<v Speaker 3>the mix. So yeah, I think that that's the exciting thing.

0:14:25.920 --> 0:14:28.520
<v Speaker 3>I think we're as deep in good quarterback play. And

0:14:28.520 --> 0:14:31.360
<v Speaker 3>then let me back up too, CJ. Stroud in Houston

0:14:31.360 --> 0:14:34.920
<v Speaker 3>and Houston Texans, they you know, they they that is

0:14:34.960 --> 0:14:37.479
<v Speaker 3>the real deal and they showed that they can be competitive.

0:14:37.720 --> 0:14:40.320
<v Speaker 3>So yeah, on both the NFC and the AFC, I

0:14:40.320 --> 0:14:42.720
<v Speaker 3>think it's going to be wide open going into next year.

0:14:43.160 --> 0:14:45.800
<v Speaker 3>We're so deep in good quarterback play probably is as

0:14:45.840 --> 0:14:49.560
<v Speaker 3>good that we've ever been in the NFL. You follow

0:14:49.640 --> 0:14:53.040
<v Speaker 3>that trail, I think we've had more teams that are

0:14:53.280 --> 0:14:55.840
<v Speaker 3>legitimately in the Super Bowl mix than we've had at

0:14:55.840 --> 0:14:57.800
<v Speaker 3>any any given time, and that's exciting.

0:14:58.200 --> 0:15:00.760
<v Speaker 8>I mean, we're talking about the quarterbacks a lot, but

0:15:00.800 --> 0:15:03.960
<v Speaker 8>there are some other positions. The running back position, for example,

0:15:03.960 --> 0:15:06.040
<v Speaker 8>I don't think any running backs are taken in the

0:15:06.080 --> 0:15:08.400
<v Speaker 8>first round this year. You know, others that kind of

0:15:08.400 --> 0:15:11.600
<v Speaker 8>stand out, safety, linebacker. I mean, a lot of these positions,

0:15:11.800 --> 0:15:13.400
<v Speaker 8>which you know you see a few of them now

0:15:13.520 --> 0:15:15.560
<v Speaker 8>come into the first round. It's just been a really

0:15:15.600 --> 0:15:16.760
<v Speaker 8>really it's really been light.

0:15:16.800 --> 0:15:17.640
<v Speaker 3>I'm curious to hear.

0:15:17.560 --> 0:15:19.440
<v Speaker 8>Your thoughts in the future of some of those positions.

0:15:19.840 --> 0:15:21.560
<v Speaker 8>Specifically the running back position.

0:15:21.800 --> 0:15:23.480
<v Speaker 3>Well, that's always been one that I don't want to

0:15:23.520 --> 0:15:26.920
<v Speaker 3>say was devalued. Jonathan Brooks was the first running back

0:15:26.960 --> 0:15:29.680
<v Speaker 3>taken from Texas with a forty sixth pick. That's the

0:15:29.720 --> 0:15:32.560
<v Speaker 3>second round. But what we've seen over the last few

0:15:32.640 --> 0:15:35.600
<v Speaker 3>years is that the second and third round seems to

0:15:35.640 --> 0:15:38.120
<v Speaker 3>be a fertile ground to get good, solid running backs,

0:15:38.400 --> 0:15:41.600
<v Speaker 3>and you tend to have a running game by committee,

0:15:41.880 --> 0:15:44.320
<v Speaker 3>and so there's good value in taking that. People are

0:15:44.360 --> 0:15:48.680
<v Speaker 3>hesitant to expend a first round pick on the running

0:15:48.720 --> 0:15:51.760
<v Speaker 3>back position when you can get good value further down.

0:15:51.840 --> 0:15:53.640
<v Speaker 3>That's not to say that they're not worthy of that.

0:15:53.720 --> 0:15:55.760
<v Speaker 3>You got the Dereck Henrys in the world that obviously

0:15:55.840 --> 0:15:59.040
<v Speaker 3>are spectacular, and taking a guy on the first round

0:15:59.360 --> 0:16:03.040
<v Speaker 3>is not bad. But the position has kind of been

0:16:03.120 --> 0:16:05.760
<v Speaker 3>devalued per se. And the fact that you know, we

0:16:05.840 --> 0:16:08.240
<v Speaker 3>had one guy taken in the second round and then

0:16:08.320 --> 0:16:10.840
<v Speaker 3>not again, we had three guys taken in the third round.

0:16:10.960 --> 0:16:14.480
<v Speaker 3>So that seems to be the mode going forward in

0:16:14.600 --> 0:16:16.960
<v Speaker 3>terms of what people looking at, simply because you can

0:16:17.000 --> 0:16:22.440
<v Speaker 3>get value at other positions in the first round and

0:16:22.480 --> 0:16:24.920
<v Speaker 3>the running back position. The other one to me, interesting

0:16:24.960 --> 0:16:27.480
<v Speaker 3>to me is the tight end position because that's one

0:16:27.520 --> 0:16:30.200
<v Speaker 3>that as we see really good tight ends in the league.

0:16:30.360 --> 0:16:33.760
<v Speaker 3>Obviously like a Travis Kelcey liking Mark Andrews in Baltimore.

0:16:35.120 --> 0:16:37.520
<v Speaker 3>There's a couple of really good tight ends around the league.

0:16:37.880 --> 0:16:40.920
<v Speaker 3>You saw Las Vegas Raiders had to brock Bowers fall

0:16:40.960 --> 0:16:43.760
<v Speaker 3>to them at number thirteen. That's a spectacular pick for them.

0:16:44.040 --> 0:16:46.320
<v Speaker 3>There wasn't another tight end taken until the second and

0:16:46.360 --> 0:16:49.920
<v Speaker 3>then the third round, so even though they're coveted, you

0:16:49.960 --> 0:16:53.520
<v Speaker 3>can usually get some good value. The Commanders took in

0:16:53.600 --> 0:16:56.040
<v Speaker 3>the second round the kid out of Kent State Senate,

0:16:56.280 --> 0:17:00.000
<v Speaker 3>their Sonata, I think, and then rioting from Illinois to Arizona,

0:17:00.000 --> 0:17:03.800
<v Speaker 3>so you can get like the running back. It's a

0:17:03.840 --> 0:17:05.919
<v Speaker 3>high priority, you really want to have one, but you

0:17:05.960 --> 0:17:08.320
<v Speaker 3>seem to get good value in the second and third round.

0:17:08.640 --> 0:17:11.640
<v Speaker 7>One day and I see it coming because one we're

0:17:11.640 --> 0:17:16.880
<v Speaker 7>playing more games NFL games overseas in London, Germany, Mexico

0:17:16.960 --> 0:17:22.719
<v Speaker 7>City in Brazil is coming there. When will it happen

0:17:23.200 --> 0:17:28.160
<v Speaker 7>when the league expands to more teams and this time

0:17:28.240 --> 0:17:29.719
<v Speaker 7>maybe a team out in London.

0:17:30.359 --> 0:17:33.320
<v Speaker 3>Yeah, that one's above my pay grade because obviously they

0:17:33.320 --> 0:17:37.760
<v Speaker 3>are nurturing interests internationally and they're highly successful games. I

0:17:37.760 --> 0:17:40.560
<v Speaker 3>do a radio show in London and those are excited,

0:17:41.320 --> 0:17:45.240
<v Speaker 3>knowledgeable fans when I get on the radio with the

0:17:45.280 --> 0:17:50.560
<v Speaker 3>folks in London, and I can't wrap my head around

0:17:50.640 --> 0:17:53.280
<v Speaker 3>how that's going to work. If you have a franchise

0:17:53.320 --> 0:17:56.760
<v Speaker 3>in one of these international cities, then how they're going

0:17:56.840 --> 0:17:59.960
<v Speaker 3>to be competitive in terms of playing in the state

0:18:00.119 --> 0:18:02.879
<v Speaker 3>and then teams going obviously over there to play, or

0:18:02.920 --> 0:18:06.320
<v Speaker 3>whether you can develop a branch of the NFL in

0:18:06.640 --> 0:18:09.480
<v Speaker 3>the international loop. I don't know. I'm sure they've got

0:18:09.480 --> 0:18:12.639
<v Speaker 3>some plan for it. It may be that they're just

0:18:12.680 --> 0:18:16.440
<v Speaker 3>going to continue these sprinkling of games and expand on that.

0:18:16.840 --> 0:18:19.960
<v Speaker 3>And now you're it's no onerous when a team only

0:18:20.000 --> 0:18:24.320
<v Speaker 3>has to play one international game a year, but complete

0:18:24.400 --> 0:18:28.359
<v Speaker 3>maybe an entire schedule overseas, but with different teams. I

0:18:28.400 --> 0:18:31.639
<v Speaker 3>don't know. You know, mine's above mine and you're figuring

0:18:31.840 --> 0:18:34.320
<v Speaker 3>that out. But clearly the money is there and the

0:18:34.320 --> 0:18:35.840
<v Speaker 3>international interest is there.

0:18:36.000 --> 0:18:38.159
<v Speaker 7>I'm just wondering if you're going to have something like, Okay,

0:18:38.320 --> 0:18:40.600
<v Speaker 7>we're going to play three games in London and then

0:18:40.600 --> 0:18:42.680
<v Speaker 7>we're going to be on the road for like a month.

0:18:43.040 --> 0:18:45.119
<v Speaker 7>Then we're going to come back and play three more games.

0:18:45.200 --> 0:18:48.439
<v Speaker 7>And I wonder if some structure like that's going to

0:18:48.440 --> 0:18:48.919
<v Speaker 7>be set up.

0:18:49.400 --> 0:18:51.919
<v Speaker 3>That could be and certainly that would make sense that

0:18:51.960 --> 0:18:54.280
<v Speaker 3>if an international team's going to come to the States,

0:18:54.320 --> 0:18:57.119
<v Speaker 3>that they have a two to three game stretch at

0:18:57.160 --> 0:19:00.399
<v Speaker 3>the minim to minimize the travel back and forth. With

0:19:00.440 --> 0:19:03.159
<v Speaker 3>that the pressure that's a lot. That's a lot to

0:19:03.200 --> 0:19:06.399
<v Speaker 3>deal with being on the road for three straight weeks

0:19:06.400 --> 0:19:09.639
<v Speaker 3>and orchestrating that and where you're going. That's that's a

0:19:09.680 --> 0:19:12.880
<v Speaker 3>tough circumstance for a team to compete and be competitive

0:19:12.920 --> 0:19:14.760
<v Speaker 3>with if that's their routine.

0:19:15.240 --> 0:19:17.199
<v Speaker 8>Well, coach Billak also, I mean, let's go back. You know,

0:19:17.280 --> 0:19:20.280
<v Speaker 8>you coached for San Diego State University, the Aztecs, go

0:19:20.440 --> 0:19:23.560
<v Speaker 8>as techs. My cousin Larry Sassaur shout out. I have

0:19:23.640 --> 0:19:26.119
<v Speaker 8>to ask you some of these universities that have filtered

0:19:26.160 --> 0:19:28.800
<v Speaker 8>so many players into the NFL. You mentioned Brock Bauers.

0:19:28.840 --> 0:19:32.360
<v Speaker 8>I'm thinking Georgia obviously Alabama. Talk to me about the

0:19:32.400 --> 0:19:37.720
<v Speaker 8>Michigan Wolverines. Thirteen players in this year's draft selected from

0:19:37.880 --> 0:19:40.480
<v Speaker 8>this year's team. I mean, which if you're a student,

0:19:40.720 --> 0:19:43.800
<v Speaker 8>I mean a scholar athlete and you're looking at you know,

0:19:44.280 --> 0:19:46.320
<v Speaker 8>those you know, institutions that you want to play your

0:19:46.359 --> 0:19:49.880
<v Speaker 8>college ball for. I mean just I mean, like, what's

0:19:49.920 --> 0:19:52.720
<v Speaker 8>out there? What's the available pool today? Given nil, given

0:19:52.720 --> 0:19:55.280
<v Speaker 8>the transfer portal, I mean, are we really limited it

0:19:55.359 --> 0:19:57.600
<v Speaker 8>just a handful of universities Now, if you really have

0:19:57.720 --> 0:20:01.560
<v Speaker 8>the talent and what it takes to make in the NFL, yeah, and.

0:20:01.560 --> 0:20:03.399
<v Speaker 3>The money, you know, whether it be a Georgia, and

0:20:03.560 --> 0:20:07.280
<v Speaker 3>we'll see it will sort itself out in terms of

0:20:07.320 --> 0:20:09.399
<v Speaker 3>what teams are actually going to get into this super

0:20:09.480 --> 0:20:12.160
<v Speaker 3>league they're talking about should be thirty five forty forty

0:20:12.200 --> 0:20:16.400
<v Speaker 3>five teams modeled on the NFL, certainly Michigan and that's

0:20:16.400 --> 0:20:19.200
<v Speaker 3>why they're national champions. What they were able to do

0:20:19.680 --> 0:20:23.000
<v Speaker 3>with the group of started with JJ McCarthy and then

0:20:23.080 --> 0:20:25.320
<v Speaker 3>all the way down, I mean through the seventh round,

0:20:25.359 --> 0:20:29.720
<v Speaker 3>the number of players and across the board defensive line, linebacker,

0:20:29.720 --> 0:20:33.439
<v Speaker 3>wide receivers, offensive line, some good football players. So with

0:20:33.560 --> 0:20:35.720
<v Speaker 3>the current state of the portal and the NIL, that's

0:20:35.760 --> 0:20:37.520
<v Speaker 3>what you're going to see. They're going to see teams

0:20:37.840 --> 0:20:41.400
<v Speaker 3>that or players that get signed someplace and get developed

0:20:41.440 --> 0:20:44.520
<v Speaker 3>like a San Diego State, then expand their opportunities and

0:20:44.560 --> 0:20:47.439
<v Speaker 3>go to a place like Michigan or Georgia or you know,

0:20:47.640 --> 0:20:49.760
<v Speaker 3>USC where they're going to pay anybody the amount of

0:20:49.800 --> 0:20:53.560
<v Speaker 3>money that they pay to try to buy a national championship,

0:20:53.560 --> 0:20:54.919
<v Speaker 3>and that just is going to kind of be the

0:20:54.960 --> 0:20:58.200
<v Speaker 3>way of the college football going forward until they get

0:20:58.200 --> 0:20:58.919
<v Speaker 3>it under control.

0:20:59.400 --> 0:21:02.600
<v Speaker 7>Special thing thanks to NFL Network analyst and former NFL

0:21:02.720 --> 0:21:06.000
<v Speaker 7>head coach Brian Billick for joining us today, by the way.

0:21:06.160 --> 0:21:08.760
<v Speaker 8>On the business side of things, Brian is involved with

0:21:08.800 --> 0:21:12.720
<v Speaker 8>a few companies, including a recent partnership with Signal Relief.

0:21:13.200 --> 0:21:15.719
<v Speaker 8>He's also the author of several books, including More Than

0:21:15.760 --> 0:21:18.720
<v Speaker 8>a Game, The Glorious Presence and The Uncertain Future of

0:21:18.800 --> 0:21:23.360
<v Speaker 8>the NFL and Now look who's here, Scarlet Foo is back.

0:21:23.520 --> 0:21:25.560
<v Speaker 5>I was tied up with the NHL playoffs, but the

0:21:25.640 --> 0:21:28.560
<v Speaker 5>Raiders swept, so I'm in good shape.

0:21:28.240 --> 0:21:31.080
<v Speaker 8>Now, sure, sure we're all okay.

0:21:31.240 --> 0:21:34.000
<v Speaker 5>From the grid iron to the tennis courts. The latest

0:21:34.119 --> 0:21:36.480
<v Speaker 5>edition of The Deal with Alis Ardriguez and Jason Kelly

0:21:36.720 --> 0:21:40.560
<v Speaker 5>features the tennis superstar the Goat herself, Serena Williams.

0:21:40.840 --> 0:21:42.840
<v Speaker 8>Let's take a little listen to a little bit of

0:21:42.880 --> 0:21:43.639
<v Speaker 8>that conversation.

0:21:44.920 --> 0:21:49.240
<v Speaker 4>You know, when I started tennis, first of one from Compton, California,

0:21:49.280 --> 0:21:51.960
<v Speaker 4>and I remember playing on these courts, and you know,

0:21:52.040 --> 0:21:55.360
<v Speaker 4>my life was great. I never felt like I needed anything,

0:21:55.720 --> 0:22:00.640
<v Speaker 4>you know, and so for me, money was never motivation.

0:22:00.760 --> 0:22:03.320
<v Speaker 4>I remember when I first started, back in the day,

0:22:04.640 --> 0:22:07.040
<v Speaker 4>they used to write out checks after you won your tournament,

0:22:07.080 --> 0:22:09.119
<v Speaker 4>and I would always forget to get the checks, and

0:22:09.200 --> 0:22:10.800
<v Speaker 4>so at the end of the year we would always

0:22:10.840 --> 0:22:12.479
<v Speaker 4>they would always have to say, Serena, we have all

0:22:12.520 --> 0:22:13.159
<v Speaker 4>these checks for you.

0:22:13.200 --> 0:22:15.679
<v Speaker 2>I'm like, oh my god. So it was never literally

0:22:15.720 --> 0:22:16.640
<v Speaker 2>forget to pick up.

0:22:16.600 --> 0:22:18.960
<v Speaker 4>The checkstually, and at the time I had an accountant

0:22:19.000 --> 0:22:21.960
<v Speaker 4>who would be like, Serena, like they sent me all

0:22:21.960 --> 0:22:24.240
<v Speaker 4>these checks that you would forget to get from the tournaments.

0:22:24.960 --> 0:22:29.200
<v Speaker 4>And so so with that being said, that was never

0:22:29.280 --> 0:22:33.960
<v Speaker 4>my motivation, to be honest, for my motivation and looking

0:22:34.000 --> 0:22:36.199
<v Speaker 4>at the success that I had financially was never my

0:22:36.280 --> 0:22:38.280
<v Speaker 4>starting point. My starting point was always like, I just

0:22:38.320 --> 0:22:40.800
<v Speaker 4>want to win championships and I want to have fun,

0:22:40.800 --> 0:22:42.000
<v Speaker 4>and I want to be a great tennis player, and

0:22:42.040 --> 0:22:43.800
<v Speaker 4>quite frankly, I just wanted to win a Grand Slam,

0:22:43.840 --> 0:22:47.840
<v Speaker 4>and I honestly, for me, everything else was a bonus.

0:22:48.000 --> 0:22:51.000
<v Speaker 4>And obviously it's great, Like you know, I really everything

0:22:51.040 --> 0:22:53.439
<v Speaker 4>that I have, Believe me, I worked really hard for

0:22:53.640 --> 0:22:56.320
<v Speaker 4>nothing really came for free, and nothing came easy.

0:22:56.400 --> 0:22:59.480
<v Speaker 2>Like I think everything was super hard working for me.

0:22:59.760 --> 0:23:02.639
<v Speaker 4>But it is cool to look back and see the

0:23:02.680 --> 0:23:08.000
<v Speaker 4>success that I've had financially, but also multiplying that now

0:23:08.040 --> 0:23:11.480
<v Speaker 4>and trying to expand that and then again just considering

0:23:11.600 --> 0:23:13.600
<v Speaker 4>like what does that mean for me going forward.

0:23:13.760 --> 0:23:16.320
<v Speaker 6>So, Serena, when we're thinking about this show, I started

0:23:16.359 --> 0:23:19.000
<v Speaker 6>thinking about people that I like, respect, admire in the

0:23:19.000 --> 0:23:21.879
<v Speaker 6>world of sports, in the world of business. And we

0:23:21.920 --> 0:23:23.919
<v Speaker 6>had a business call recently and I said, would you

0:23:23.920 --> 0:23:26.800
<v Speaker 6>come on our show? Yeah, but I'm interested to know

0:23:27.040 --> 0:23:28.720
<v Speaker 6>what motivates you today.

0:23:29.160 --> 0:23:32.199
<v Speaker 4>When you're used to being a champion, used to winning,

0:23:32.760 --> 0:23:35.639
<v Speaker 4>and so that's something that I'm always motivated by. A

0:23:35.800 --> 0:23:39.359
<v Speaker 4>success and what a success. I think success is different

0:23:39.440 --> 0:23:40.920
<v Speaker 4>for a lot of people, and I think that's one

0:23:40.960 --> 0:23:43.200
<v Speaker 4>thing that I think a lot of people get wrong.

0:23:43.760 --> 0:23:46.719
<v Speaker 2>For me, success right now is having great investments.

0:23:47.040 --> 0:23:49.280
<v Speaker 4>I think a lot of people's success is being a

0:23:49.320 --> 0:23:51.800
<v Speaker 4>mom or which is super successful for me because that's

0:23:51.800 --> 0:23:53.800
<v Speaker 4>something that I've always wanted to do in my life.

0:23:54.040 --> 0:23:57.359
<v Speaker 4>Or maybe it's getting an A on your grades or

0:23:57.400 --> 0:24:00.199
<v Speaker 4>whatever that is. So I think for me, the motivation

0:24:00.440 --> 0:24:01.800
<v Speaker 4>is definitely success.

0:24:02.240 --> 0:24:05.600
<v Speaker 6>Both of us played for a couple decades right, very public,

0:24:06.080 --> 0:24:09.200
<v Speaker 6>me more domestically, you more around the world. But what's

0:24:09.240 --> 0:24:12.560
<v Speaker 6>interesting is, Jason, you mentioned half a billion dollars. You know,

0:24:12.800 --> 0:24:15.080
<v Speaker 6>for me it was about the same thing, But ninety

0:24:15.119 --> 0:24:17.800
<v Speaker 6>percent of my money came from playing baseball on the

0:24:17.840 --> 0:24:21.520
<v Speaker 6>field with you is ecxact opposite with yours marketing? Yeah,

0:24:22.040 --> 0:24:23.920
<v Speaker 6>how do you think about the impact that you've made

0:24:23.960 --> 0:24:26.920
<v Speaker 6>not only to all your partners, but how the ripple

0:24:26.960 --> 0:24:29.560
<v Speaker 6>effect around the world of the business of Serena.

0:24:30.840 --> 0:24:32.720
<v Speaker 2>Yeah, it's so different, right.

0:24:32.840 --> 0:24:37.159
<v Speaker 4>I think it's really interesting how I learned early on

0:24:37.640 --> 0:24:40.520
<v Speaker 4>that your paycheck from tennis. Maybe that's why I forgot

0:24:40.600 --> 0:24:44.639
<v Speaker 4>them to be your small to be your smallest earning. Oh,

0:24:44.640 --> 0:24:48.160
<v Speaker 4>it's my dad always told me growing up, and so

0:24:48.160 --> 0:24:51.119
<v Speaker 4>so I always thought, Okay, well, partnering with the right

0:24:51.160 --> 0:24:53.000
<v Speaker 4>people and also deciding who do you really want to

0:24:53.040 --> 0:24:55.400
<v Speaker 4>partner with, because for me, it's also about being very

0:24:55.400 --> 0:24:59.480
<v Speaker 4>authentic with those partnerships, not necessarily partnering with a company

0:25:00.119 --> 0:25:03.400
<v Speaker 4>that either doesn't believe in what you're.

0:25:03.240 --> 0:25:05.840
<v Speaker 2>Doing or you don't really use and utilize.

0:25:05.840 --> 0:25:08.480
<v Speaker 4>So I think throughout my whole career, I wanted to

0:25:08.480 --> 0:25:11.000
<v Speaker 4>make sure that those partnerships are very authentic and they

0:25:11.000 --> 0:25:16.200
<v Speaker 4>spoke to me and they also gave back in some

0:25:16.240 --> 0:25:17.679
<v Speaker 4>sort of way, shape or form.

0:25:18.040 --> 0:25:20.520
<v Speaker 5>That's from the latest episode of the Deal with Alex

0:25:20.600 --> 0:25:23.960
<v Speaker 5>Rodriguez and Jason Kelly this week featuring Serena Williams.

0:25:24.440 --> 0:25:26.919
<v Speaker 8>Up next on the show. We dive behind the scenes

0:25:26.960 --> 0:25:30.359
<v Speaker 8>of that episode with the co host Bloomberg Originals Chief

0:25:30.520 --> 0:25:32.439
<v Speaker 8>correspondent Jason Kelly.

0:25:32.640 --> 0:25:37.960
<v Speaker 5>You're listening to the Bloomberg Business of Sports from Bloomberg Radio.

0:25:39.920 --> 0:25:44.040
<v Speaker 7>You're listening to Bloomberg Business of Sports from Bloomberg Radio.

0:25:45.520 --> 0:25:47.639
<v Speaker 5>This is the Bloomberg Business of Sports show where we

0:25:47.720 --> 0:25:49.840
<v Speaker 5>explore the big money issues in the world of sports.

0:25:50.160 --> 0:25:53.000
<v Speaker 5>I'm Scarlett Foo along with Damian Sassar. Michael Barr had

0:25:53.000 --> 0:25:55.320
<v Speaker 5>to step out. He'll be back next week. The Deal

0:25:55.359 --> 0:25:57.480
<v Speaker 5>with Alex Rodriguez and Jason Kelly is one of the

0:25:57.600 --> 0:26:01.480
<v Speaker 5>latest series from Bloomberg Originals, covering the biggest names were sports,

0:26:01.560 --> 0:26:03.280
<v Speaker 5>business and culture collide.

0:26:03.600 --> 0:26:08.119
<v Speaker 8>The latest episode features tennis superstar Serena Williams and joining

0:26:08.160 --> 0:26:10.080
<v Speaker 8>us to talk a little bit about the new episode

0:26:10.200 --> 0:26:14.760
<v Speaker 8>is co host and Bloomberg Original's chief correspondent Jason Kelly.

0:26:15.280 --> 0:26:18.160
<v Speaker 9>I mean, man, when we set out to do this show,

0:26:18.200 --> 0:26:23.280
<v Speaker 9>I said to Alex there's a mount rushmore of guests

0:26:23.320 --> 0:26:25.560
<v Speaker 9>and one of the people on it is Serena Williams,

0:26:25.560 --> 0:26:28.439
<v Speaker 9>And I gotta tell you, she just one hundred percent

0:26:29.000 --> 0:26:31.560
<v Speaker 9>delivered as I knew she would. But like what an

0:26:31.600 --> 0:26:35.119
<v Speaker 9>amazing story. Again not just on the tennis court, but

0:26:35.359 --> 0:26:35.920
<v Speaker 9>off the court.

0:26:36.080 --> 0:26:39.520
<v Speaker 5>Just incredible, especially since when you consider what she's been

0:26:39.520 --> 0:26:42.320
<v Speaker 5>doing since right, I mean, she's so active not just

0:26:42.320 --> 0:26:44.639
<v Speaker 5>in building her brand, but in building an empire.

0:26:44.359 --> 0:26:48.080
<v Speaker 9>Totally building an empire. And you know, she has identified

0:26:48.720 --> 0:26:52.320
<v Speaker 9>a place where she can really make a difference, uh,

0:26:52.440 --> 0:26:59.639
<v Speaker 9>and that is in investing and specifically investing in highly

0:26:59.680 --> 0:27:05.640
<v Speaker 9>highlight underrepresented communities via founders who are women or people

0:27:05.680 --> 0:27:07.679
<v Speaker 9>of color. And as you guys, you know all the

0:27:07.680 --> 0:27:13.040
<v Speaker 9>statistics because they are horrifying. You know, about two percent

0:27:13.080 --> 0:27:15.680
<v Speaker 9>of venture capital money goes to female founders and about

0:27:15.680 --> 0:27:18.600
<v Speaker 9>one percent, probably a little less, goes to black founders.

0:27:18.640 --> 0:27:22.920
<v Speaker 9>And so sixty eight percent of Serena Venture's portfolio is

0:27:23.080 --> 0:27:26.359
<v Speaker 9>actually diverse. And so as she did on the tennis court,

0:27:26.520 --> 0:27:29.800
<v Speaker 9>she is, i mean quite literally breaking down barriers. She's

0:27:29.840 --> 0:27:32.320
<v Speaker 9>a force, and I think anybody who's spent any time

0:27:32.359 --> 0:27:34.560
<v Speaker 9>with her knows that she's been super engaged from the

0:27:34.600 --> 0:27:39.080
<v Speaker 9>beginning on everything that she's involved in. You know, one

0:27:39.119 --> 0:27:42.760
<v Speaker 9>of the most interesting things is this this idea of

0:27:42.800 --> 0:27:45.159
<v Speaker 9>her relationship with her father and you know, sort of

0:27:45.160 --> 0:27:48.680
<v Speaker 9>going the other way on the King King Richard himself,

0:27:48.920 --> 0:27:51.879
<v Speaker 9>and one of the most interesting things that he did. Obviously,

0:27:51.920 --> 0:27:54.800
<v Speaker 9>you know we've seen the movie, we've followed her career

0:27:54.800 --> 0:27:59.320
<v Speaker 9>and her sister Venus. He obviously gave them tremendous opportunities

0:27:59.359 --> 0:28:02.080
<v Speaker 9>to play tennis and at the same time what he

0:28:02.119 --> 0:28:05.160
<v Speaker 9>did to them, and Serena talks about this in the episode.

0:28:05.680 --> 0:28:09.240
<v Speaker 9>She had a conversation with him where he essentially said,

0:28:09.440 --> 0:28:11.400
<v Speaker 9>you're in charge of your own money, figure it out.

0:28:11.480 --> 0:28:14.760
<v Speaker 9>So he was not prescriptive in that regard. The one

0:28:14.920 --> 0:28:17.679
<v Speaker 9>thing that he did that really set her up was

0:28:17.720 --> 0:28:22.200
<v Speaker 9>on her very first deal, the Puma deal, he insisted

0:28:22.240 --> 0:28:25.440
<v Speaker 9>that she be physically at the table, to the point

0:28:25.480 --> 0:28:27.560
<v Speaker 9>where she actually fell asleep in the middle of the

0:28:27.640 --> 0:28:28.840
<v Speaker 9>night they were negotiating.

0:28:28.840 --> 0:28:31.359
<v Speaker 8>Oh my god, but he said.

0:28:31.359 --> 0:28:33.199
<v Speaker 9>Don't go into another room. You need to be at

0:28:33.240 --> 0:28:35.200
<v Speaker 9>the table. And I have to say, She's never left.

0:28:35.280 --> 0:28:39.000
<v Speaker 9>And so she is in such firm control of her

0:28:40.840 --> 0:28:45.000
<v Speaker 9>own direction, strategy, strategically, tactically. She has a great team

0:28:45.000 --> 0:28:47.480
<v Speaker 9>around her, but I can tell you from talking to

0:28:47.480 --> 0:28:50.200
<v Speaker 9>her she is intensely involved in every detail.

0:28:50.280 --> 0:28:52.600
<v Speaker 5>I love that anecdote because it really tells you about

0:28:52.600 --> 0:28:55.120
<v Speaker 5>how she doesn't let people speak on her behalf. She

0:28:55.160 --> 0:28:57.160
<v Speaker 5>makes sure that she is the principal and that she

0:28:57.760 --> 0:29:00.480
<v Speaker 5>is representing herself. You talk about her team. A member

0:29:00.480 --> 0:29:03.400
<v Speaker 5>of her team in a way is her spouse Alexis Ohanian, right,

0:29:03.720 --> 0:29:07.720
<v Speaker 5>and of course an accomplished startup founder himself and an investor.

0:29:08.080 --> 0:29:10.640
<v Speaker 5>And did you talk a little bit at all about

0:29:10.640 --> 0:29:11.960
<v Speaker 5>how their world's kind of intersect.

0:29:12.120 --> 0:29:13.240
<v Speaker 2>Yeah, it's a great question.

0:29:13.280 --> 0:29:14.800
<v Speaker 9>We did talk about that a little bit because if

0:29:14.800 --> 0:29:19.080
<v Speaker 9>you think about her her life and her business and

0:29:19.120 --> 0:29:22.200
<v Speaker 9>her tennis, she's had this great series of partners, right first,

0:29:22.200 --> 0:29:25.280
<v Speaker 9>her dad, her sister. Obviously they're incredibly close. They live

0:29:25.360 --> 0:29:28.440
<v Speaker 9>very close to each other still in Florida. Alexis Ohanian,

0:29:28.560 --> 0:29:32.360
<v Speaker 9>as you mentioned, co founder of Reddit, an incredible investor

0:29:32.440 --> 0:29:33.160
<v Speaker 9>in his own right.

0:29:33.440 --> 0:29:33.840
<v Speaker 2>She did.

0:29:34.080 --> 0:29:36.520
<v Speaker 9>She talked about how they've managed to create this kind

0:29:36.560 --> 0:29:38.400
<v Speaker 9>of like church and state where they each have their

0:29:38.440 --> 0:29:43.160
<v Speaker 9>own things. Clearly they are influential to each other.

0:29:44.320 --> 0:29:44.520
<v Speaker 7>You know.

0:29:44.560 --> 0:29:47.640
<v Speaker 9>One of the most notable examples was, you know, Alexis

0:29:47.720 --> 0:29:51.760
<v Speaker 9>led the funding of Angel City Football Club right in

0:29:51.800 --> 0:29:57.600
<v Speaker 9>the NWSL and that came, and Serena talks about this

0:29:57.640 --> 0:30:00.200
<v Speaker 9>a little bit. That came because their daughter, Olympia was

0:30:00.240 --> 0:30:05.080
<v Speaker 9>playing was playing soccer, and Alexis said, you know, I

0:30:05.120 --> 0:30:07.720
<v Speaker 9>would love to get involved in women's sports because Olympia

0:30:07.760 --> 0:30:10.600
<v Speaker 9>is into it. And Serena and this is like classic.

0:30:10.640 --> 0:30:14.040
<v Speaker 9>Serena said, okay, but you need to ensure that if

0:30:14.040 --> 0:30:16.480
<v Speaker 9>she's going to be a professional athlete, she gets paid.

0:30:16.800 --> 0:30:19.760
<v Speaker 9>And so it's like, so that has always been so

0:30:20.960 --> 0:30:25.360
<v Speaker 9>intentional on her behalf, and so that's I think a

0:30:25.520 --> 0:30:28.080
<v Speaker 9>huge influence that she has had on him. And he

0:30:28.200 --> 0:30:30.400
<v Speaker 9>is obviously I just saw him a couple of weeks

0:30:30.440 --> 0:30:32.920
<v Speaker 9>ago here in New York. He's a huge proponent of

0:30:32.920 --> 0:30:35.840
<v Speaker 9>investing in women's sports. He's got this new track and

0:30:35.880 --> 0:30:38.880
<v Speaker 9>field thing that he's investing in obviously Angel City as well.

0:30:39.000 --> 0:30:41.880
<v Speaker 9>So clearly very influential there.

0:30:42.280 --> 0:30:44.920
<v Speaker 8>Jason, I wonder if you got into the state of tennis,

0:30:44.960 --> 0:30:47.120
<v Speaker 8>what her belief about what the state of tennis is

0:30:47.120 --> 0:30:48.360
<v Speaker 8>today the future stars.

0:30:48.920 --> 0:30:50.760
<v Speaker 9>I mean, she did talk about the state of tennis

0:30:50.800 --> 0:30:54.600
<v Speaker 9>insofar as you know, there were you know, there are

0:30:54.600 --> 0:30:57.680
<v Speaker 9>a lot of questions when she left of you know,

0:30:57.760 --> 0:31:01.600
<v Speaker 9>can the sport be what it was or what it

0:31:01.680 --> 0:31:04.920
<v Speaker 9>was with her without her? You know, she was a

0:31:05.000 --> 0:31:07.720
<v Speaker 9>huge draw. You know, the ratings, the attendance. Everything went

0:31:07.800 --> 0:31:10.400
<v Speaker 9>up when she was playing. You know, what she has

0:31:10.440 --> 0:31:13.040
<v Speaker 9>said and others have noted, is you know, tennis does

0:31:13.080 --> 0:31:15.480
<v Speaker 9>seem to be on good footing. You do have a

0:31:15.520 --> 0:31:18.160
<v Speaker 9>crop of stars. Obviously, Cocoa goff here in the United

0:31:18.240 --> 0:31:22.280
<v Speaker 9>States is a massive influence on the popularity. I think

0:31:22.320 --> 0:31:25.520
<v Speaker 9>her win at the US Open, you know, really sealed

0:31:25.600 --> 0:31:29.360
<v Speaker 9>that next generation. So I think Serena feels pretty good

0:31:29.680 --> 0:31:32.440
<v Speaker 9>about where the game is and feels good about, you know,

0:31:32.640 --> 0:31:35.400
<v Speaker 9>redirecting her efforts into the broader business world.

0:31:35.640 --> 0:31:38.520
<v Speaker 5>All right, Jason Kelly, fantastic stuff. Jason Kelly is co

0:31:38.600 --> 0:31:41.040
<v Speaker 5>host of The Deal with Alex Rodriguez and of course

0:31:41.160 --> 0:31:43.400
<v Speaker 5>their guest of the week none other than the goat,

0:31:43.760 --> 0:31:47.440
<v Speaker 5>Serena Williams. Thanks guys, don't miss the latest episode of

0:31:47.480 --> 0:31:50.320
<v Speaker 5>the Deal with Alex Rodriguez and Jason Kelly this week

0:31:50.360 --> 0:31:51.640
<v Speaker 5>featuring Serena Williams.

0:31:51.960 --> 0:31:54.840
<v Speaker 8>Catch it Fridays it's seven pm Eastern on Bloomberg Television,

0:31:54.920 --> 0:31:58.240
<v Speaker 8>or stream it on Thursdays at nine pm Eastern on

0:31:58.320 --> 0:32:01.840
<v Speaker 8>Bloomberg Originals and find it anywhere you get your podcasts.

0:32:02.360 --> 0:32:04.680
<v Speaker 5>Now, let's turn to a subject we've been covering a

0:32:04.720 --> 0:32:08.760
<v Speaker 5>lot lately, yet another team wants a new stadium. Oh really,

0:32:09.960 --> 0:32:11.200
<v Speaker 5>can you think of a couple of other teams?

0:32:11.400 --> 0:32:12.720
<v Speaker 8>I could think of a view of one, but I

0:32:12.760 --> 0:32:14.840
<v Speaker 8>mean Chicago. Let's talk Chicago.

0:32:15.200 --> 0:32:17.640
<v Speaker 5>Let's talk Chicago, and we're talking about the Chicago Bears here.

0:32:17.720 --> 0:32:20.440
<v Speaker 5>So we need to bring in Shrudy Singh, who covers

0:32:20.960 --> 0:32:23.760
<v Speaker 5>Chicago for us in our Chicago Bureau all things Chicago,

0:32:23.840 --> 0:32:28.000
<v Speaker 5>including municipal issues. Shrudy, talk to us a little bit

0:32:28.040 --> 0:32:30.760
<v Speaker 5>here about what the Chicago Bears are aiming to do.

0:32:31.320 --> 0:32:34.560
<v Speaker 5>Soldier Field is old and some would say even decrepit,

0:32:34.920 --> 0:32:37.600
<v Speaker 5>and they're looking to upgrade and build a new stadium.

0:32:38.080 --> 0:32:40.960
<v Speaker 1>Yeah. So the Chicago Bears unveiled a four point seven

0:32:41.000 --> 0:32:44.720
<v Speaker 1>billion dollars stadium plan that would replace the current Soldier Field,

0:32:44.880 --> 0:32:46.840
<v Speaker 1>which is about one hundred years old. It's one of

0:32:46.840 --> 0:32:49.480
<v Speaker 1>the smaller stadiums in the country and it doesn't have

0:32:49.480 --> 0:32:52.240
<v Speaker 1>a dome. So there's lots of things that the team

0:32:52.400 --> 0:32:56.000
<v Speaker 1>is looking to change about where it plays. And this

0:32:56.080 --> 0:32:59.959
<v Speaker 1>particular four point seven billion dollars stadium complex would include

0:33:00.320 --> 0:33:03.400
<v Speaker 1>a three point two billion dollars stadium itself, but then

0:33:03.440 --> 0:33:05.960
<v Speaker 1>the rest of the money would be for the complex

0:33:06.120 --> 0:33:10.000
<v Speaker 1>around the stadium, which could include lots of park space

0:33:10.120 --> 0:33:13.720
<v Speaker 1>and infrastructure improvements and things like that, and some of

0:33:13.760 --> 0:33:16.160
<v Speaker 1>it would be financed by the team, and some of

0:33:16.200 --> 0:33:19.440
<v Speaker 1>it they're looking for help from municipal financing, which is

0:33:19.440 --> 0:33:20.200
<v Speaker 1>what I cover.

0:33:20.680 --> 0:33:22.719
<v Speaker 8>Well, Shreudy. I mean, I'm sure our audience would love

0:33:22.760 --> 0:33:26.240
<v Speaker 8>nothing more than to talk about Caleb Williams and Dons

0:33:26.440 --> 0:33:28.840
<v Speaker 8>and how the Bears crush the NFL draft, But you know,

0:33:29.240 --> 0:33:32.560
<v Speaker 8>tell us about what has changed not only in the

0:33:32.600 --> 0:33:34.560
<v Speaker 8>state of Illinois but the city of Chicago. I mean,

0:33:34.560 --> 0:33:37.200
<v Speaker 8>how can they even think about taking on a project

0:33:37.200 --> 0:33:37.400
<v Speaker 8>like this.

0:33:38.440 --> 0:33:41.800
<v Speaker 1>So basically the issue is that and this has actually

0:33:41.880 --> 0:33:44.440
<v Speaker 1>come up a lot in conversations, and you'd be surprised

0:33:44.640 --> 0:33:47.760
<v Speaker 1>that even folks who are talking about the stadium and

0:33:47.800 --> 0:33:50.040
<v Speaker 1>their love for the Bears, when you listen to the

0:33:50.080 --> 0:33:53.200
<v Speaker 1>conversations that are going on around Chicago, people are still

0:33:53.200 --> 0:33:56.080
<v Speaker 1>bringing up the finances, like how is this going to

0:33:56.120 --> 0:33:58.760
<v Speaker 1>be paid for? And so, as I mentioned, part of

0:33:59.000 --> 0:34:03.720
<v Speaker 1>the Bear's proposal is for about nine hundred million dollars

0:34:03.760 --> 0:34:07.680
<v Speaker 1>in debt financing from the Illinois Sports Facilities Authority, which

0:34:07.720 --> 0:34:11.480
<v Speaker 1>was basically set up in the eighties to help finance

0:34:11.920 --> 0:34:17.480
<v Speaker 1>pro sport stadiums. So this organization, this agency basically helps

0:34:17.760 --> 0:34:22.000
<v Speaker 1>with selling debt for pro stadiums around the state. Now,

0:34:22.280 --> 0:34:24.480
<v Speaker 1>one of the things is that these are bonds that

0:34:24.520 --> 0:34:28.239
<v Speaker 1>are paid for through state and local taxes. Illinois is

0:34:28.280 --> 0:34:32.080
<v Speaker 1>currently the lowest rated state in terms of its credit rating.

0:34:32.360 --> 0:34:35.399
<v Speaker 1>It has certainly climbed up the ratings over the last

0:34:35.400 --> 0:34:37.920
<v Speaker 1>couple of years. It's had a string of upgrades by

0:34:37.960 --> 0:34:41.440
<v Speaker 1>just improving the way it handles its finances, including passing

0:34:41.440 --> 0:34:45.120
<v Speaker 1>budgets on time, paying down its debt liability and its

0:34:45.160 --> 0:34:49.480
<v Speaker 1>pension liability, things like that, but it still has marginally

0:34:49.880 --> 0:34:53.839
<v Speaker 1>the lowest credit rating among its peers. Chicago also has

0:34:53.920 --> 0:34:57.440
<v Speaker 1>some of its own financial issues. The two states and

0:34:57.600 --> 0:35:00.440
<v Speaker 1>local governments share one thing in common, which is that

0:35:00.440 --> 0:35:04.480
<v Speaker 1>they both have a very large unfunded pension liability. So

0:35:04.680 --> 0:35:08.040
<v Speaker 1>that is the longest sort of financial burden that both

0:35:08.080 --> 0:35:11.480
<v Speaker 1>state and local government have, and it takes up for

0:35:11.600 --> 0:35:15.840
<v Speaker 1>each government, it takes about a fifth of their regular budget.

0:35:16.880 --> 0:35:20.520
<v Speaker 5>Yeah, it's pretty massive. So you mentioned that this Illinois

0:35:20.560 --> 0:35:23.360
<v Speaker 5>Sports Facilities Authority, this government agency was set up in

0:35:23.400 --> 0:35:27.600
<v Speaker 5>the eighties to build and renovate stadiums for pro teams. Clearly,

0:35:27.680 --> 0:35:30.280
<v Speaker 5>the environment has changed a lot from the eighties to now,

0:35:30.360 --> 0:35:34.520
<v Speaker 5>and taxpayers are not so enamored of the idea of

0:35:35.400 --> 0:35:39.560
<v Speaker 5>having to shoulder the burden of funding in some where

0:35:40.000 --> 0:35:45.080
<v Speaker 5>another new facilities for teams owned by billionaires. They would

0:35:45.160 --> 0:35:48.200
<v Speaker 5>rather the teams show it out themselves. Can you talk

0:35:48.200 --> 0:35:49.320
<v Speaker 5>a little bit about the environment.

0:35:50.080 --> 0:35:52.840
<v Speaker 1>Yeah, So there's been a lot of questions posed by

0:35:53.280 --> 0:35:57.279
<v Speaker 1>the elected official chair in Illinois. The Governor of Illinois, JB.

0:35:57.360 --> 0:36:01.280
<v Speaker 1>Pritzker is saying that, you know, to be known about

0:36:01.280 --> 0:36:05.320
<v Speaker 1>this proposal, and he has been reluctant to provide any

0:36:05.360 --> 0:36:10.640
<v Speaker 1>sort of inkling or you know, support of this initial proposal.

0:36:10.680 --> 0:36:12.680
<v Speaker 1>He's not ruling it up, but he said, you know,

0:36:12.719 --> 0:36:16.680
<v Speaker 1>he's skeptical and he's been reluctant. In terms of other

0:36:16.920 --> 0:36:20.760
<v Speaker 1>leadership here in this state, Illinois House Speaker Chris Welch

0:36:20.800 --> 0:36:24.160
<v Speaker 1>has said right now, in this environment, if this was

0:36:24.200 --> 0:36:27.439
<v Speaker 1>put for a vote, it would fail. So that's kind

0:36:27.440 --> 0:36:29.840
<v Speaker 1>of where things stand in terms of what the leadership

0:36:29.880 --> 0:36:32.400
<v Speaker 1>in Illinois is talking about. But at the same time,

0:36:32.760 --> 0:36:37.440
<v Speaker 1>Chicago Mayor Johnson was at the press conference last Wednesday

0:36:37.719 --> 0:36:41.080
<v Speaker 1>and is supportive of this, but this needs approval from

0:36:41.120 --> 0:36:43.080
<v Speaker 1>the state legislature and the governor.

0:36:42.920 --> 0:36:45.719
<v Speaker 8>Trudy to that exact point. I mean, we just saw

0:36:45.719 --> 0:36:47.839
<v Speaker 8>on Kansas City that you know, they put this whole

0:36:47.880 --> 0:36:50.960
<v Speaker 8>thing to a vote. There was you know, marketing going

0:36:51.000 --> 0:36:54.280
<v Speaker 8>on into the vote by Patrick Mahomes and Travis Kelcey.

0:36:54.320 --> 0:36:57.080
<v Speaker 8>I mean, people knew about it. They were they were

0:36:57.280 --> 0:36:58.799
<v Speaker 8>you know, they were made aware of of all the

0:36:58.840 --> 0:37:00.920
<v Speaker 8>details of how much it wouldst et cetera. And they

0:37:00.920 --> 0:37:03.399
<v Speaker 8>were given an opportunity to vote. In this case, if

0:37:03.400 --> 0:37:06.359
<v Speaker 8>I'm reading this correctly, they're trying to push this through

0:37:06.360 --> 0:37:08.400
<v Speaker 8>in five weeks. So talk to us a little bit

0:37:08.440 --> 0:37:10.640
<v Speaker 8>about the process here and is there anything we can

0:37:10.680 --> 0:37:13.919
<v Speaker 8>read into from that sort of accelerated timeline.

0:37:14.320 --> 0:37:17.359
<v Speaker 1>So right now, the Illinois General Assembly is going through

0:37:17.400 --> 0:37:21.359
<v Speaker 1>its budgeting process and they have about five weeks left

0:37:21.600 --> 0:37:24.880
<v Speaker 1>actually a little bit under five weeks, just about a

0:37:24.920 --> 0:37:28.360
<v Speaker 1>month left in their current spring session. Now, the Bears

0:37:28.400 --> 0:37:31.640
<v Speaker 1>indicated last Wednesday that they would actually like to seek

0:37:31.719 --> 0:37:34.880
<v Speaker 1>and get approval for this project, which as I mentioned,

0:37:34.880 --> 0:37:40.000
<v Speaker 1>would require funding, you know, partially through this sports facility

0:37:40.080 --> 0:37:42.640
<v Speaker 1>that's run by the state, and they're eager to get

0:37:42.640 --> 0:37:45.279
<v Speaker 1>this rolling in this spring session which ends at the

0:37:45.360 --> 0:37:49.120
<v Speaker 1>end of this month. The Illinois General Assembly has lots

0:37:49.120 --> 0:37:51.600
<v Speaker 1>of other things going on that they're trying to do,

0:37:51.840 --> 0:37:54.800
<v Speaker 1>including balancing a budget that includes a lot of competing

0:37:54.880 --> 0:37:56.839
<v Speaker 1>needs right now in the state of Illinois.

0:37:57.080 --> 0:37:59.400
<v Speaker 8>Our thanks to Shredy Singh for joining us from our

0:37:59.480 --> 0:38:02.799
<v Speaker 8>Chicago bez. And that does it for this week's edition

0:38:02.800 --> 0:38:05.440
<v Speaker 8>of The Bloomberg Business of Sports. If you missed any

0:38:05.480 --> 0:38:08.000
<v Speaker 8>of it, check it out now on the Bloomberg Business

0:38:08.040 --> 0:38:11.759
<v Speaker 8>of Sports podcast on Apple, Spotify, and anywhere else you

0:38:11.840 --> 0:38:12.719
<v Speaker 8>get your podcasts.

0:38:13.040 --> 0:38:15.279
<v Speaker 5>This is the Bloomberg Business of Sports. We're here each

0:38:15.320 --> 0:38:17.160
<v Speaker 5>and every week at the same time for Michael Barr

0:38:17.239 --> 0:38:20.319
<v Speaker 5>and Damien Sassar. I'm Scarlet Foo. Tune in next week

0:38:20.320 --> 0:38:22.400
<v Speaker 5>for the latest on the stories moving big money in

0:38:22.440 --> 0:38:25.040
<v Speaker 5>the world of sports. You're listening to The Bloomberg Business

0:38:25.120 --> 0:38:27.600
<v Speaker 5>of Sports from Bloomberg Radio around the world.