1
00:00:00,800 --> 00:00:03,360
Speaker 1: This is Bloomberg Business of Sports.

2
00:00:03,640 --> 00:00:06,160
Speaker 2: Everybody is into soccer, so it's not a case of

3
00:00:06,240 --> 00:00:07,880
Speaker 2: like building the game in ninety four.

4
00:00:08,000 --> 00:00:11,120
Speaker 3: To me, the metch have one of the most aggressive

5
00:00:11,160 --> 00:00:12,880
Speaker 3: owners in all of pro sports.

6
00:00:12,960 --> 00:00:15,360
Speaker 4: Women's sports has become much more high profile. There's been

7
00:00:15,360 --> 00:00:16,759
Speaker 4: a lot of focus on a TV.

8
00:00:16,720 --> 00:00:19,400
Speaker 1: Networks have made a killing off college football and they

9
00:00:19,440 --> 00:00:20,479
Speaker 1: will continue to do that.

10
00:00:20,600 --> 00:00:23,200
Speaker 3: Do you have a very motivated owner? Which the Padres do,

11
00:00:23,600 --> 00:00:26,759
Speaker 3: which the Phillies do, which the Yankees? Do you spend?

12
00:00:26,880 --> 00:00:29,920
Speaker 2: I think sports may be driving some of these streaming

13
00:00:29,960 --> 00:00:31,440
Speaker 2: services as they'll go forward.

14
00:00:31,480 --> 00:00:33,199
Speaker 5: As a shelf life to be in an athlete, you

15
00:00:33,280 --> 00:00:35,120
Speaker 5: have to figure out what the bib is going to be.

16
00:00:35,280 --> 00:00:40,400
Speaker 1: Bloomberg Business of Sports from Bloomberg Radio. Hello, Welcome to

17
00:00:40,440 --> 00:00:43,120
Speaker 1: the Bloomberg Business of Sports podcast. We explore some of

18
00:00:43,120 --> 00:00:45,720
Speaker 1: the big money issues and world sports on Michael.

19
00:00:45,479 --> 00:00:47,920
Speaker 4: Barne, I'm Scarlett Fall and I'm Damian sas Hour.

20
00:00:48,000 --> 00:00:51,920
Speaker 1: On the lineup. Today, the NHL's Arizona Couties will not

21
00:00:52,400 --> 00:00:54,680
Speaker 1: have a new place to call home as voters the

22
00:00:54,760 --> 00:00:57,480
Speaker 1: other day rejected a proposal to build a two point

23
00:00:57,560 --> 00:01:01,840
Speaker 1: one billion dollar entertainment development near Tempe Arizona that would

24
00:01:01,880 --> 00:01:06,520
Speaker 1: have constructed a new hockey arena. Arizona Coyote CEO Javier

25
00:01:06,560 --> 00:01:09,520
Speaker 1: Guterrez responded to the special election results.

26
00:01:10,000 --> 00:01:13,360
Speaker 2: We are very disappointed that Tempe voters did not approve

27
00:01:13,600 --> 00:01:17,080
Speaker 2: propositions three oh one, three oh two, and three oh three.

28
00:01:17,640 --> 00:01:20,959
Speaker 2: As Tempe Mayor Corey Woods said, this was the best

29
00:01:20,959 --> 00:01:24,039
Speaker 2: sports deal in the history of Arizona. What is next

30
00:01:24,080 --> 00:01:27,760
Speaker 2: for the franchise will be evaluated by our owner and

31
00:01:27,880 --> 00:01:30,920
Speaker 2: the National Hockey League over the coming weeks.

32
00:01:30,560 --> 00:01:32,560
Speaker 4: And of course for the coming season. At least, the

33
00:01:32,600 --> 00:01:35,280
Speaker 4: Coyotes will be continuing to play at Mullet Arena at

34
00:01:35,319 --> 00:01:39,640
Speaker 4: Arizona State University, which only seats five thousand people, so

35
00:01:39,800 --> 00:01:42,080
Speaker 4: could be tough news ahead for Coyotes fans. We're going

36
00:01:42,120 --> 00:01:45,640
Speaker 4: to speak with Bloomberg's Max Adler on the ramifications of

37
00:01:45,720 --> 00:01:46,679
Speaker 4: this special vote.

38
00:01:46,800 --> 00:01:50,240
Speaker 6: Plus Marty Eaedle, co chair at Golsten and Stut's sports

39
00:01:50,320 --> 00:01:52,920
Speaker 6: law practice, will join the program to talk about some

40
00:01:52,920 --> 00:01:56,280
Speaker 6: of the legal issues surrounding Memphis Grizzy star John Morantz,

41
00:01:56,520 --> 00:02:00,360
Speaker 6: college football players opting into EA sports, and much ks more.

42
00:02:00,600 --> 00:02:04,960
Speaker 1: But first, we discussed the business of youth sports, their

43
00:02:04,960 --> 00:02:09,280
Speaker 1: communities and the companies that facilitate these projects. Joining us

44
00:02:09,320 --> 00:02:12,919
Speaker 1: now to speak on this is founding partner and CEO

45
00:02:13,200 --> 00:02:17,600
Speaker 1: at the Sports Facilities Companies, Jason Clement. Jason, thank you

46
00:02:17,720 --> 00:02:20,440
Speaker 1: for joining us on the Bloomberg Business of Sports.

47
00:02:20,440 --> 00:02:22,240
Speaker 5: Pleasure to be with you. Thanks for having me.

48
00:02:22,320 --> 00:02:24,280
Speaker 1: So I'm going to start out right from the big

49
00:02:24,320 --> 00:02:29,079
Speaker 1: about you guys are the largest single network of tournament

50
00:02:29,360 --> 00:02:33,600
Speaker 1: and community based sports facilities in the US. Take us

51
00:02:33,600 --> 00:02:37,400
Speaker 1: through that and what impact does that mean for sports

52
00:02:37,440 --> 00:02:37,920
Speaker 1: in general?

53
00:02:39,080 --> 00:02:42,040
Speaker 5: Hey, well, thanks again, it's great to be with you.

54
00:02:42,880 --> 00:02:43,079
Speaker 3: Yeah.

55
00:02:43,120 --> 00:02:45,720
Speaker 5: We exist to improve the health and economic vitality of

56
00:02:45,760 --> 00:02:48,240
Speaker 5: the communities we serve, and we get to do that

57
00:02:49,280 --> 00:02:54,760
Speaker 5: by managing, operating, developing, planning youth and amateur participatory sports

58
00:02:54,760 --> 00:02:56,320
Speaker 5: complexes across the country.

59
00:02:56,840 --> 00:02:57,480
Speaker 3: When we talk.

60
00:02:57,360 --> 00:03:02,080
Speaker 5: About that mission, that health part of that mental, social, spiritual,

61
00:03:02,160 --> 00:03:06,600
Speaker 5: physical health of our communities and really our country are

62
00:03:06,639 --> 00:03:09,120
Speaker 5: all improved because of the work that our team gets

63
00:03:09,120 --> 00:03:09,400
Speaker 5: to do.

64
00:03:09,520 --> 00:03:10,560
Speaker 3: So yeah, we love it.

65
00:03:11,360 --> 00:03:15,720
Speaker 5: We are in about twenty states. We've gotten nearly fifty

66
00:03:15,880 --> 00:03:19,440
Speaker 5: different facilities and complexes that we manage and overseae around

67
00:03:19,480 --> 00:03:23,000
Speaker 5: the country. We've got another twenty under development right now

68
00:03:23,440 --> 00:03:27,280
Speaker 5: and another seventy five that we're doing feasibility planning for

69
00:03:27,800 --> 00:03:30,400
Speaker 5: and strategic planning for at this point in time. So

70
00:03:30,720 --> 00:03:33,359
Speaker 5: it's a big boom. There's a lot going on, and

71
00:03:33,880 --> 00:03:37,880
Speaker 5: there's no shortage of youth and adults whaying sports in

72
00:03:37,880 --> 00:03:39,200
Speaker 5: the United States these days.

73
00:03:39,320 --> 00:03:40,920
Speaker 4: Well, you describe it as a big boom, which is

74
00:03:40,960 --> 00:03:44,200
Speaker 4: certainly the case, but it's also coincided with a decline

75
00:03:44,240 --> 00:03:47,600
Speaker 4: in funding for public youth sports programs in high schools.

76
00:03:48,000 --> 00:03:51,960
Speaker 4: Do you think that this movement towards privatizing youth sports

77
00:03:52,000 --> 00:03:58,440
Speaker 4: will increase the gap the disparity of access in youth sports, Yeah,

78
00:03:58,480 --> 00:03:59,040
Speaker 4: it sure will.

79
00:03:59,120 --> 00:04:03,680
Speaker 5: It has As you know, the privatization of sport has

80
00:04:03,680 --> 00:04:07,400
Speaker 5: a lot of positive benefits to it. You know, a

81
00:04:07,400 --> 00:04:11,280
Speaker 5: lot of kids are playing broader competition, they're getting to

82
00:04:11,280 --> 00:04:14,520
Speaker 5: play to their potential. You know, they're getting to build

83
00:04:14,920 --> 00:04:18,640
Speaker 5: helping and lifelong relationships as a result of that. The

84
00:04:18,760 --> 00:04:22,919
Speaker 5: quality of programming and coaching has improved over that time.

85
00:04:23,160 --> 00:04:26,240
Speaker 5: But you're exactly right, Scarlett, there are a number of

86
00:04:26,400 --> 00:04:29,760
Speaker 5: kids and families that have been left behind because of

87
00:04:29,800 --> 00:04:32,520
Speaker 5: the cost of play and because they don't have access

88
00:04:32,520 --> 00:04:35,800
Speaker 5: to these facilities that other kids do as well. So

89
00:04:35,880 --> 00:04:39,080
Speaker 5: it's an important solution that I know we're working on

90
00:04:39,120 --> 00:04:40,719
Speaker 5: to bring to the communities that we serve.

91
00:04:41,680 --> 00:04:43,640
Speaker 6: Jason, I wonder if you could take our audience through,

92
00:04:43,760 --> 00:04:48,480
Speaker 6: you know, traditionally how a sports stadium or field or

93
00:04:48,640 --> 00:04:51,680
Speaker 6: mega complex or whatever, how does that typically get funded?

94
00:04:51,720 --> 00:04:53,960
Speaker 6: Is it the town, is it the state? I mean,

95
00:04:54,000 --> 00:04:56,760
Speaker 6: how does that really work historically? And then what's the

96
00:04:56,800 --> 00:04:57,359
Speaker 6: future for that.

97
00:04:58,880 --> 00:05:03,080
Speaker 5: Yeah, we've worked historically with both private developers as well

98
00:05:03,120 --> 00:05:07,839
Speaker 5: as municipalities and local governments that are developing and building

99
00:05:07,839 --> 00:05:12,640
Speaker 5: these Over the course of the last decade, and specifically

100
00:05:12,680 --> 00:05:15,680
Speaker 5: over the last three years, the cost of construction has

101
00:05:16,160 --> 00:05:20,520
Speaker 5: increased by almost fifty five percent really since twenty twenty.

102
00:05:20,960 --> 00:05:24,600
Speaker 5: So the private development just don't pencil out as well

103
00:05:24,640 --> 00:05:26,720
Speaker 5: as they used to just three to five years ago.

104
00:05:27,120 --> 00:05:29,719
Speaker 5: That means for these places to get developed, there has

105
00:05:29,760 --> 00:05:33,000
Speaker 5: to be some component of a private public partnership. The

106
00:05:33,040 --> 00:05:37,760
Speaker 5: local government needs to be involved because it can reduce

107
00:05:37,839 --> 00:05:42,120
Speaker 5: the cost of construction in that way. Local government actually

108
00:05:42,160 --> 00:05:46,960
Speaker 5: then gets the benefit of additional revenues through sales tax visitors,

109
00:05:47,000 --> 00:05:50,480
Speaker 5: hotel tax, property tax increases, so they have a little

110
00:05:50,480 --> 00:05:52,839
Speaker 5: different way that they can generate a return on investment

111
00:05:53,400 --> 00:05:56,480
Speaker 5: than just you know, a private developer. So we're seeing

112
00:05:56,560 --> 00:05:59,880
Speaker 5: you know, general box for some tip districts, we're seeing

113
00:06:00,000 --> 00:06:04,719
Speaker 5: planthropic dollars as well as you know, star bonds and

114
00:06:04,760 --> 00:06:07,680
Speaker 5: other sorts of things from you know, even state level

115
00:06:08,839 --> 00:06:11,840
Speaker 5: government fund and finance these things so that they can

116
00:06:11,839 --> 00:06:12,239
Speaker 5: be built.

117
00:06:12,960 --> 00:06:15,000
Speaker 6: So then Jason, talk to me about your day job, right,

118
00:06:15,040 --> 00:06:17,000
Speaker 6: I mean, what's the most fun part? Is it the

119
00:06:17,040 --> 00:06:20,440
Speaker 6: actual planning and construction of these facilities? Is the management

120
00:06:20,440 --> 00:06:23,679
Speaker 6: and operation of them? Or is it the doing the deal,

121
00:06:23,800 --> 00:06:26,520
Speaker 6: you know, getting the funding, putting it all together? I mean,

122
00:06:26,680 --> 00:06:28,640
Speaker 6: is is that right? Is that kind of what you're

123
00:06:28,680 --> 00:06:29,159
Speaker 6: involved with?

124
00:06:30,920 --> 00:06:34,080
Speaker 5: Yeah, the answer is yet, it's all fun. We really

125
00:06:34,160 --> 00:06:36,919
Speaker 5: enjoy it. But ultimately, if you were to you know,

126
00:06:37,040 --> 00:06:39,520
Speaker 5: question any of our two thousand team members across the

127
00:06:39,520 --> 00:06:43,640
Speaker 5: country doing this work from the strategic planning, financing, overside

128
00:06:43,640 --> 00:06:47,640
Speaker 5: of design and construction into management operations and actually delivering

129
00:06:48,040 --> 00:06:51,479
Speaker 5: you know, for the families in the venues that we're

130
00:06:51,520 --> 00:06:54,440
Speaker 5: in across the country, I think you would find that

131
00:06:54,520 --> 00:06:57,080
Speaker 5: everybody has a heartbeat for doing this because we believe

132
00:06:57,120 --> 00:06:59,600
Speaker 5: in the impact that it makes for kids and for families.

133
00:07:00,000 --> 00:07:03,880
Speaker 5: For me personally, what I enjoy the most is partnering

134
00:07:04,000 --> 00:07:09,279
Speaker 5: with local community stakeholders, trying to find out what their

135
00:07:09,279 --> 00:07:11,920
Speaker 5: goals are, qualitatively the impact they're trying to make, and

136
00:07:12,000 --> 00:07:17,000
Speaker 5: quantitatively financially. So many of these traditional park and rec

137
00:07:17,120 --> 00:07:22,240
Speaker 5: assets sports facilities operated out of thirty percent cost recovery.

138
00:07:22,480 --> 00:07:24,960
Speaker 5: For those of us that are in business, that's a

139
00:07:25,000 --> 00:07:30,520
Speaker 5: negative margin of seventy percent negative seventy percent evadov margin.

140
00:07:31,440 --> 00:07:34,280
Speaker 5: That's historically where they're coming from. And I love that

141
00:07:34,320 --> 00:07:36,760
Speaker 5: we've been able to flip that on its head for

142
00:07:36,880 --> 00:07:39,520
Speaker 5: many of these communities. Now they're actually profit centers and

143
00:07:39,520 --> 00:07:43,400
Speaker 5: their contributors to these communities as a result of the

144
00:07:43,400 --> 00:07:49,240
Speaker 5: way that we've utilized innovative business models, technologies partnered with

145
00:07:49,280 --> 00:07:52,400
Speaker 5: different stakeholders in the community. So I just love finding

146
00:07:52,400 --> 00:07:54,760
Speaker 5: out what the goals and objectives are for these stakeholders

147
00:07:54,800 --> 00:07:57,360
Speaker 5: and then delivering for those that are investing in the

148
00:07:57,400 --> 00:08:03,920
Speaker 5: facilities while providing a class qualitative impact for the families

149
00:08:03,920 --> 00:08:05,040
Speaker 5: and kids that get to play.

150
00:08:05,640 --> 00:08:08,400
Speaker 4: So I'm also curious when we talk about youth sports.

151
00:08:08,880 --> 00:08:12,800
Speaker 4: You've got major companies Dix, Nike, under Armour, how are

152
00:08:12,840 --> 00:08:16,320
Speaker 4: they impacting the growth of youth sports developments? In the US.

153
00:08:16,720 --> 00:08:19,400
Speaker 5: Well, look, they exist right to make a profit and

154
00:08:19,520 --> 00:08:25,520
Speaker 5: to you know, sell their retail services and products. So

155
00:08:25,640 --> 00:08:28,400
Speaker 5: they recognize that a good way to do that is

156
00:08:28,440 --> 00:08:30,440
Speaker 5: to get in early, you know, with with these youths.

157
00:08:30,480 --> 00:08:33,840
Speaker 5: I'm actually meeting with those very organizations and more this

158
00:08:33,920 --> 00:08:38,079
Speaker 5: week in Colorado Springs to talk a little bit about

159
00:08:38,080 --> 00:08:41,679
Speaker 5: what we can do to increase and enhance sports participation

160
00:08:41,800 --> 00:08:45,439
Speaker 5: around the country. They're recognizing that they have a vested interest,

161
00:08:45,480 --> 00:08:48,680
Speaker 5: a financial interest in getting more kids on the field

162
00:08:48,720 --> 00:08:51,439
Speaker 5: and on the court. Obviously, we believe in the qualitative

163
00:08:51,440 --> 00:08:56,280
Speaker 5: impact for those kids, so our missions align very well. Look,

164
00:08:56,080 --> 00:08:59,200
Speaker 5: they all have a not for profit arm as well

165
00:08:59,240 --> 00:09:01,839
Speaker 5: in which they're trying to get you know, a ball,

166
00:09:02,000 --> 00:09:05,200
Speaker 5: a stick, a glove in the hands of these kids

167
00:09:05,240 --> 00:09:08,840
Speaker 5: as well, so that you know, we can reduce some

168
00:09:08,960 --> 00:09:13,079
Speaker 5: of the societal challenges that we have related to obesity,

169
00:09:14,080 --> 00:09:16,440
Speaker 5: you know, and just decision making, you know, when these

170
00:09:16,559 --> 00:09:19,520
Speaker 5: kids are busy, and sport is such a great outlet

171
00:09:20,040 --> 00:09:24,680
Speaker 5: for these kids. But but these large organizations are money

172
00:09:24,760 --> 00:09:28,920
Speaker 5: into solutions, into solutions they can provide access to these kids,

173
00:09:29,400 --> 00:09:32,040
Speaker 5: and they're a very willing partner with us, and we're

174
00:09:32,080 --> 00:09:35,640
Speaker 5: looking forward to announcing some of these solutions that we're

175
00:09:35,679 --> 00:09:36,360
Speaker 5: coming up with.

176
00:09:36,920 --> 00:09:40,600
Speaker 1: You know, to the country, which sport would you call

177
00:09:40,720 --> 00:09:44,360
Speaker 1: the meat and potatoes for youth sports? I mean, I

178
00:09:44,400 --> 00:09:46,080
Speaker 1: know marble shooting is up in there.

179
00:09:49,600 --> 00:09:52,720
Speaker 5: You know, the fastest growing sport is is pickleball. And

180
00:09:52,760 --> 00:09:57,439
Speaker 5: you asked about sports pick kids. Yeah, well, well pickleball

181
00:09:57,480 --> 00:10:02,040
Speaker 5: has this reputation right of seniors and but the but

182
00:10:02,080 --> 00:10:05,319
Speaker 5: the reality is it has come all the way downstream. Anecdotally,

183
00:10:05,800 --> 00:10:07,559
Speaker 5: my kids got me in to pick a ball. I've

184
00:10:07,559 --> 00:10:09,400
Speaker 5: got an eleven to ten and an eight year old

185
00:10:09,800 --> 00:10:11,839
Speaker 5: and over Easter weekend they said, Dad, we've got to

186
00:10:11,880 --> 00:10:14,320
Speaker 5: go out and play. And so now we're playing like

187
00:10:14,360 --> 00:10:18,440
Speaker 5: every week. So it is the fastest growing sport for

188
00:10:18,520 --> 00:10:22,120
Speaker 5: all ages, and it is significant coming down significantly into

189
00:10:22,200 --> 00:10:24,920
Speaker 5: the youth market. But to answer your question directly, the

190
00:10:25,000 --> 00:10:28,240
Speaker 5: reality is youth sports continues to explode. There are certain

191
00:10:28,320 --> 00:10:35,360
Speaker 5: sports that the participation has plateaued or even a decreasing marginally. However,

192
00:10:35,400 --> 00:10:37,760
Speaker 5: the choices are so much greater than they used to be.

193
00:10:38,360 --> 00:10:43,760
Speaker 5: So our job is to plan, develop and manage lessable assets,

194
00:10:43,840 --> 00:10:48,719
Speaker 5: facilities that allow us to keep up with the diversity

195
00:10:49,320 --> 00:10:52,360
Speaker 5: and sport choice. And when we think about sport choice,

196
00:10:52,440 --> 00:10:56,000
Speaker 5: it's not just you know, the traditional meat and potato sports.

197
00:10:56,600 --> 00:11:00,880
Speaker 5: You know, we're developing facilities that are focused on esports

198
00:11:01,320 --> 00:11:04,800
Speaker 5: as well, you know, climbing, adventure sports.

199
00:11:04,840 --> 00:11:05,840
Speaker 3: We've got a surf.

200
00:11:05,720 --> 00:11:08,840
Speaker 5: Park coming online at Myrtle Beach that we're a part of.

201
00:11:09,559 --> 00:11:12,480
Speaker 5: So there is a lot of innovation happening right now,

202
00:11:12,520 --> 00:11:14,920
Speaker 5: a lot of solutions coming to the table. And when

203
00:11:14,960 --> 00:11:18,080
Speaker 5: you pick and choose the components of the facilities that

204
00:11:18,120 --> 00:11:22,680
Speaker 5: can come together and and really facilitate a flexible business

205
00:11:22,720 --> 00:11:27,000
Speaker 5: model that provides access to as many families as possible,

206
00:11:27,800 --> 00:11:30,719
Speaker 5: catering to that diversity of sports sampling that we think

207
00:11:30,840 --> 00:11:34,360
Speaker 5: is so important, especially for kids of a really young age.

208
00:11:34,559 --> 00:11:36,160
Speaker 6: So what are you see in terms of demand? I mean,

209
00:11:36,240 --> 00:11:41,400
Speaker 6: are are are are are your clients looking for indoor facilities?

210
00:11:41,440 --> 00:11:43,520
Speaker 6: Are they looking for outdoor facilities? I mean when I

211
00:11:43,559 --> 00:11:45,640
Speaker 6: think of you know, these sports megaplexus, I think of

212
00:11:45,679 --> 00:11:48,320
Speaker 6: fields upon fields upon fields. But then I've seen you know,

213
00:11:48,360 --> 00:11:51,280
Speaker 6: the bubbles as you mentioned, pickleball and indoor tennis and basketball.

214
00:11:51,320 --> 00:11:53,280
Speaker 6: I mean, where are we going here? What do you see?

215
00:11:53,520 --> 00:11:54,520
Speaker 6: You know, what's the demand for.

216
00:11:55,960 --> 00:11:56,400
Speaker 3: All of it.

217
00:11:56,920 --> 00:11:59,439
Speaker 5: It really is for all of it, and it depends

218
00:11:59,480 --> 00:12:03,640
Speaker 5: on the individual community, the seasonality and the latitude of

219
00:12:03,640 --> 00:12:07,520
Speaker 5: where they are in the country, and that really generates

220
00:12:07,559 --> 00:12:11,560
Speaker 5: what what the facility, the right facility mix looks like.

221
00:12:12,320 --> 00:12:15,080
Speaker 5: You know, so many of these local governments, we call it,

222
00:12:15,120 --> 00:12:17,080
Speaker 5: you know, it's a copycat league, and they'll see what

223
00:12:17,160 --> 00:12:19,520
Speaker 5: you know, XYZ community down the road is doing and

224
00:12:19,559 --> 00:12:22,000
Speaker 5: if they're having success, and they'll say, well, we want

225
00:12:22,040 --> 00:12:25,800
Speaker 5: that to write and in reality it should be a

226
00:12:25,840 --> 00:12:29,679
Speaker 5: little bit of a tweak blend for for for that community.

227
00:12:29,760 --> 00:12:32,320
Speaker 5: I mean, we're working with communities you know, as large

228
00:12:32,320 --> 00:12:35,520
Speaker 5: as Chicago, which is the largest largest park district in

229
00:12:35,559 --> 00:12:39,800
Speaker 5: the country, you know, seventy five hundred employees, five hundred

230
00:12:39,800 --> 00:12:44,400
Speaker 5: million dollar budget, down to you know, Albertville, Alabama, which

231
00:12:44,440 --> 00:12:47,880
Speaker 5: is you know, population twenty two thousand, that just developed

232
00:12:47,920 --> 00:12:51,719
Speaker 5: a massive park with an amphitheater and an RV you know,

233
00:12:51,760 --> 00:12:54,959
Speaker 5: a fitness center, community wreck, a bunch of outdoor diamonds,

234
00:12:55,160 --> 00:12:59,319
Speaker 5: outdoor long field, a seasonal aquatics center, a twenty five

235
00:12:59,400 --> 00:13:02,920
Speaker 5: yard now forum. The that's population of you know, twenty one,

236
00:13:03,000 --> 00:13:06,080
Speaker 5: twenty two thousand people and it is thriving. You know,

237
00:13:06,120 --> 00:13:09,520
Speaker 5: the vision of that mayor is extraordinary. So really, every

238
00:13:09,559 --> 00:13:14,079
Speaker 5: town USA has an opportunity to enhance these assets, to

239
00:13:14,160 --> 00:13:19,000
Speaker 5: provide a better service qualitatively and generate a better financial

240
00:13:19,040 --> 00:13:23,040
Speaker 5: outcome quantitatively, you know, for their residents.

241
00:13:23,240 --> 00:13:25,920
Speaker 4: I do wonder, though, if there's a risk of overstaturation

242
00:13:26,240 --> 00:13:29,280
Speaker 4: in certain youth sports markets. I think of Marlborough, Massachusetts,

243
00:13:29,320 --> 00:13:31,120
Speaker 4: which has a bunch of which my kids have gone

244
00:13:31,120 --> 00:13:33,920
Speaker 4: to for hockey tournaments, and that is the main industry.

245
00:13:33,920 --> 00:13:35,960
Speaker 4: It feels like in that town, all the hotels, all

246
00:13:35,960 --> 00:13:38,760
Speaker 4: the restaurants catering to the families that drive in for

247
00:13:38,840 --> 00:13:42,319
Speaker 4: these tournaments. I wonder if all these youth sports developments

248
00:13:42,640 --> 00:13:45,720
Speaker 4: are dependent on attracting a finite number of large amateur

249
00:13:45,800 --> 00:13:49,679
Speaker 4: sports tournaments to drive traffic to their facilities and sustain

250
00:13:49,720 --> 00:13:51,360
Speaker 4: the businesses that are built in that town.

251
00:13:52,760 --> 00:13:55,520
Speaker 5: It's a great question, Scarlett, and one that we get

252
00:13:55,520 --> 00:13:58,320
Speaker 5: asked a lot. You know, the good news is the

253
00:13:58,360 --> 00:14:03,120
Speaker 5: sports participation is expanding exponentially at this point in time,

254
00:14:03,559 --> 00:14:06,480
Speaker 5: and you're just speaking exactly to my point that not

255
00:14:06,679 --> 00:14:09,400
Speaker 5: every community should do the exact same thing. It's really

256
00:14:09,440 --> 00:14:13,000
Speaker 5: important that you analyze, evaluate, and study what's happening in

257
00:14:13,040 --> 00:14:15,360
Speaker 5: your region, because if you just throw down the next

258
00:14:15,400 --> 00:14:19,040
Speaker 5: four sheet device to your point, are we oversaturating and

259
00:14:19,160 --> 00:14:22,480
Speaker 5: are we cannibalizing you know one another here? And that's

260
00:14:22,640 --> 00:14:27,040
Speaker 5: a really important distinction to evaluate there. And here's the

261
00:14:27,080 --> 00:14:29,800
Speaker 5: other piece of it. You know, there's big money coming

262
00:14:29,800 --> 00:14:33,000
Speaker 5: into the youth sports space and specifically in the facilities

263
00:14:33,320 --> 00:14:37,680
Speaker 5: space as well. Innovative solutions are really important like any

264
00:14:37,720 --> 00:14:41,440
Speaker 5: other marketplace right in our in our capitalistic society here,

265
00:14:42,320 --> 00:14:46,000
Speaker 5: it's really important that the best ideas win, the best

266
00:14:46,040 --> 00:14:49,520
Speaker 5: services are going to win. So so at this stage,

267
00:14:49,960 --> 00:14:53,160
Speaker 5: you know that community in Massachusetts, I would hope that

268
00:14:53,200 --> 00:14:55,440
Speaker 5: they're continuing to innovate and think about what do we

269
00:14:55,520 --> 00:14:58,320
Speaker 5: need to do next, what's the next generation of service,

270
00:14:58,320 --> 00:15:01,880
Speaker 5: in the next generation a facility should we be looking

271
00:15:01,920 --> 00:15:04,880
Speaker 5: at and evaluating to make sure that we're providing the

272
00:15:04,960 --> 00:15:08,920
Speaker 5: very best opportunity for our guests and our customers. And

273
00:15:09,320 --> 00:15:12,560
Speaker 5: you're exactly right that differentiation is going to be really

274
00:15:12,600 --> 00:15:15,360
Speaker 5: important for a number of these operations as we move

275
00:15:15,400 --> 00:15:16,600
Speaker 5: into the next decade.

276
00:15:17,080 --> 00:15:20,480
Speaker 6: Jason, would you agree that Hebrew National hot Dogs are

277
00:15:20,480 --> 00:15:24,640
Speaker 6: better than Nathan? I'm just now, but seriously, my question

278
00:15:24,760 --> 00:15:27,200
Speaker 6: is what are the big mistakes that every town USA

279
00:15:27,320 --> 00:15:29,720
Speaker 6: is making. I mean, you know, we talk about these

280
00:15:29,720 --> 00:15:32,320
Speaker 6: communities that get it right, but those that get it wrong.

281
00:15:32,760 --> 00:15:35,480
Speaker 6: Is it that they overbuild, the overspend, they're too focused

282
00:15:35,480 --> 00:15:37,920
Speaker 6: on one sports, two spread out on multiple sports. What

283
00:15:37,960 --> 00:15:40,520
Speaker 6: do you typically see for those, you know, those those

284
00:15:40,520 --> 00:15:41,720
Speaker 6: communities that don't get right?

285
00:15:42,840 --> 00:15:45,680
Speaker 5: I love this question. Look I'm a little bit of

286
00:15:45,680 --> 00:15:49,120
Speaker 5: personal privilege here. I'm from Iowa originally. So I love

287
00:15:49,200 --> 00:15:52,120
Speaker 5: the movie Field of Dreams. Love that movie, but it

288
00:15:52,200 --> 00:15:54,720
Speaker 5: is not builded. And they will come in this say,

289
00:15:55,240 --> 00:15:58,960
Speaker 5: and so oftentimes that is what happens. People you know,

290
00:15:59,040 --> 00:16:02,000
Speaker 5: put you know, numbers in a spreadsheet, you know, they

291
00:16:02,120 --> 00:16:04,400
Speaker 5: enroun on a spreadsheet and they look at numbers and say,

292
00:16:04,440 --> 00:16:06,960
Speaker 5: we're going to make you know, billions on this thing,

293
00:16:07,440 --> 00:16:10,280
Speaker 5: and they don't really know how the operation works. So

294
00:16:10,680 --> 00:16:14,280
Speaker 5: oftentimes they'll overbuild. You know, they'll take a real estate

295
00:16:14,320 --> 00:16:17,960
Speaker 5: based analysis, this analysis at this and say, hey, well

296
00:16:18,000 --> 00:16:20,640
Speaker 5: we've got I'm going to make this up ten fields.

297
00:16:21,000 --> 00:16:23,440
Speaker 5: So if we have twenty four hours in a day

298
00:16:23,920 --> 00:16:26,320
Speaker 5: and we fill it at thirty percent, we're going to

299
00:16:26,400 --> 00:16:28,560
Speaker 5: generate this much revenue. Well that's not the way that

300
00:16:28,600 --> 00:16:31,320
Speaker 5: this works at all. Really, what you've got to do

301
00:16:31,360 --> 00:16:33,960
Speaker 5: is you've got to analyze the demand for a region

302
00:16:33,960 --> 00:16:37,080
Speaker 5: in a marketplace, evaluate how much usage is going to

303
00:16:37,080 --> 00:16:39,000
Speaker 5: be coming in. Then you got to take a look

304
00:16:39,000 --> 00:16:41,160
Speaker 5: at how many fields there are in the marketplace already.

305
00:16:41,160 --> 00:16:43,960
Speaker 5: The scarlets are a layer point and say, okay, what's

306
00:16:44,000 --> 00:16:46,320
Speaker 5: the utilization rate going to look like? And that tells

307
00:16:46,360 --> 00:16:49,200
Speaker 5: you what the sweet spot for those fields number of

308
00:16:49,200 --> 00:16:51,840
Speaker 5: fields need to look like and now you can generate

309
00:16:51,840 --> 00:16:52,920
Speaker 5: a business model.

310
00:16:52,680 --> 00:16:53,360
Speaker 3: To go get it.

311
00:16:53,640 --> 00:16:56,160
Speaker 5: But so many of these complexes and there are are

312
00:16:56,440 --> 00:16:58,880
Speaker 5: you know, a handful that are in the news today

313
00:16:59,400 --> 00:17:03,160
Speaker 5: as a result of overbuilding, not understanding the business. And

314
00:17:03,200 --> 00:17:04,919
Speaker 5: then when I talk about you know, build it and

315
00:17:04,920 --> 00:17:07,679
Speaker 5: they will come once you get it financed and you

316
00:17:07,720 --> 00:17:10,520
Speaker 5: start to design and build it. You need to build

317
00:17:10,520 --> 00:17:15,439
Speaker 5: it for optimal flexibility, you know, because not one sport.

318
00:17:15,480 --> 00:17:17,399
Speaker 5: Don't fall in love with one sport here. You need

319
00:17:17,440 --> 00:17:20,560
Speaker 5: to be able to generate three or four different types

320
00:17:20,600 --> 00:17:23,560
Speaker 5: of uses over that one space so you can keep

321
00:17:23,560 --> 00:17:28,119
Speaker 5: that space busy as long as possible. Lastly, on this point,

322
00:17:28,560 --> 00:17:31,960
Speaker 5: twelve to eighteen months before opening, you've got to start

323
00:17:31,960 --> 00:17:36,280
Speaker 5: going through the business development, the marketing, the branding, the sales,

324
00:17:36,760 --> 00:17:40,320
Speaker 5: building the relationships. When you get to opening day, you

325
00:17:40,359 --> 00:17:42,720
Speaker 5: should be full, but not because you've built it. You

326
00:17:42,720 --> 00:17:44,600
Speaker 5: should be full because of the work that you need

327
00:17:44,640 --> 00:17:46,800
Speaker 5: to go grow and build the business and generate the

328
00:17:46,840 --> 00:17:48,240
Speaker 5: relationships that are required.

329
00:17:49,000 --> 00:17:54,199
Speaker 1: Jason Clement, founding partner and CEO of Sports Facilities Companies, You,

330
00:17:54,680 --> 00:17:59,200
Speaker 1: as usual will drop the knowledge and then some for

331
00:17:59,680 --> 00:18:02,639
Speaker 1: all of us here listening. We really do appreciate it.

332
00:18:02,680 --> 00:18:04,680
Speaker 1: Thank you so much, Jason, thanks for having you.

333
00:18:04,720 --> 00:18:06,399
Speaker 5: Guys are the best. Appreciate all you do.

334
00:18:06,680 --> 00:18:08,960
Speaker 1: Thank you. Up next on the show, we talked to

335
00:18:09,000 --> 00:18:12,880
Speaker 1: Bloomberg's Max Adler on why the Arizona Coyotes two point

336
00:18:12,880 --> 00:18:16,159
Speaker 1: one billion dollar NHL arena plan was defeated. That is

337
00:18:16,160 --> 00:18:19,080
Speaker 1: straight ahead on the Bloomberg Business of Sports. I'm Michael

338
00:18:19,119 --> 00:18:23,080
Speaker 1: Barr along with Scarlett Foo and Damian Sasaur. You're listening

339
00:18:23,280 --> 00:18:32,119
Speaker 1: to Bloomberg Radio around the world. You're listening to Bloomberg

340
00:18:32,240 --> 00:18:36,960
Speaker 1: Business of Sports from Bloomberg Radio. Hello, Welcome to the

341
00:18:37,000 --> 00:18:39,679
Speaker 1: Bloomberg Business of Sports podcast. We explore some of the

342
00:18:39,680 --> 00:18:41,560
Speaker 1: big money issues and the world of sports.

343
00:18:41,600 --> 00:18:44,200
Speaker 6: I'm Michael Barn, I'm Scarlett Fairlhand, I'm Damian sas hour.

344
00:18:44,520 --> 00:18:48,080
Speaker 1: You probably have heard the news about the Arizona Coyotes.

345
00:18:48,240 --> 00:18:50,600
Speaker 1: They were hoping that they were going to get their

346
00:18:50,680 --> 00:18:54,680
Speaker 1: plans to advance a two point one billion dollar NHL arena,

347
00:18:55,000 --> 00:18:59,440
Speaker 1: but the voters said no to that, and quite frankly,

348
00:18:59,520 --> 00:19:02,879
Speaker 1: it left a lot of people with the Arizona Coyotes disappointed,

349
00:19:03,160 --> 00:19:06,280
Speaker 1: including an old friend of the show, Arizona Coyotes CEO,

350
00:19:06,960 --> 00:19:10,400
Speaker 1: Javier Guterres. He responded to the special election.

351
00:19:10,200 --> 00:19:14,439
Speaker 2: Results, we are very disappointed that Tempe voters did not

352
00:19:14,560 --> 00:19:18,160
Speaker 2: approve propositions three oh one, three oh two and three

353
00:19:18,240 --> 00:19:22,159
Speaker 2: oh three. As Tempi Mayor Corey Woods said, this was

354
00:19:22,200 --> 00:19:25,919
Speaker 2: the best sports deal in the history of Arizona. What

355
00:19:26,040 --> 00:19:29,720
Speaker 2: is next for the franchise will be evaluated by our

356
00:19:29,760 --> 00:19:33,959
Speaker 2: owner and the National Hockey League over the coming weeks.

357
00:19:34,720 --> 00:19:38,320
Speaker 1: There's a great article on this on the Bloomberg Terminal

358
00:19:38,640 --> 00:19:42,520
Speaker 1: by Max Adler and Amanda Albright, and we have the

359
00:19:42,600 --> 00:19:46,800
Speaker 1: Max here. We'll call him Maxwell Adler just for the

360
00:19:46,840 --> 00:19:49,560
Speaker 1: first time. That's the only time you get the full

361
00:19:49,640 --> 00:19:52,080
Speaker 1: reference here because we want you to feel comfortable and

362
00:19:52,359 --> 00:19:56,199
Speaker 1: have respect and everything here. So welcome to the Bloomberg

363
00:19:56,480 --> 00:19:57,720
Speaker 1: Business of Sports. Max.

364
00:19:57,880 --> 00:19:58,960
Speaker 7: Thank you for the warm welcome.

365
00:20:00,280 --> 00:20:03,960
Speaker 1: Well, what happened? It's you know, I guess there's so

366
00:20:04,040 --> 00:20:08,160
Speaker 1: many points about where this went south, And I guess

367
00:20:08,200 --> 00:20:12,280
Speaker 1: the biggest thing is that there was a former city

368
00:20:12,280 --> 00:20:19,359
Speaker 1: council member, Lauren Kobe, and she was totally she was

369
00:20:19,359 --> 00:20:25,359
Speaker 1: totally against this. And the problem here is that a

370
00:20:25,400 --> 00:20:28,520
Speaker 1: lot of people were putting no tax breaks for billionaires,

371
00:20:28,800 --> 00:20:33,240
Speaker 1: no handouts for corrupt billionaires on their lawn with the

372
00:20:33,320 --> 00:20:36,800
Speaker 1: signs in there. So, Max, what happened here? What's south?

373
00:20:37,200 --> 00:20:40,200
Speaker 7: Yeah, So it seems like Koobe's organization Tempe first it

374
00:20:40,320 --> 00:20:42,800
Speaker 7: was a super pack that was started to defeat this measure.

375
00:20:43,400 --> 00:20:46,480
Speaker 7: Was really successful in their opposition. They really flooded the

376
00:20:46,480 --> 00:20:49,000
Speaker 7: streets with all of these lawn signs, They had a

377
00:20:49,000 --> 00:20:54,640
Speaker 7: pretty proactive media campaign, and ultimately they squashed a deal

378
00:20:54,720 --> 00:20:58,960
Speaker 7: that actually gave I had a smaller public funding component

379
00:20:59,040 --> 00:21:01,200
Speaker 7: than a lot of similar deals that we've seen across

380
00:21:01,200 --> 00:21:05,840
Speaker 7: the country, and their messaging about not giving tax abatements

381
00:21:05,920 --> 00:21:09,280
Speaker 7: to billionaires was really successful with Tempe voters. And honestly,

382
00:21:09,320 --> 00:21:13,440
Speaker 7: it surprised me going into this. I thought that this

383
00:21:13,520 --> 00:21:17,119
Speaker 7: would this resolution would pass given the size of the

384
00:21:17,119 --> 00:21:20,320
Speaker 7: public funding opponent. It was about two hundred and twenty million.

385
00:21:21,280 --> 00:21:24,040
Speaker 7: Let's compare that to what the state of New York

386
00:21:24,160 --> 00:21:26,800
Speaker 7: and Erie County just gave the Buffalo Bills to build

387
00:21:26,840 --> 00:21:29,639
Speaker 7: their new stadium that came in at like eight hundred

388
00:21:29,680 --> 00:21:33,840
Speaker 7: and fifty million. We saw a similar package in Tennessee,

389
00:21:34,359 --> 00:21:37,520
Speaker 7: and now the folks in Las Vegas are preparing to

390
00:21:37,560 --> 00:21:41,960
Speaker 7: give the Oakland Athletics upwards of five hundred million dollars

391
00:21:42,000 --> 00:21:45,280
Speaker 7: to come to their facility. So I was surprised at

392
00:21:45,320 --> 00:21:50,919
Speaker 7: how successful the opposition was in creating negative press for

393
00:21:50,960 --> 00:21:51,520
Speaker 7: this measure.

394
00:21:51,960 --> 00:21:54,800
Speaker 4: Yeah, two hundred million doesn't sound like a lot when

395
00:21:54,840 --> 00:21:57,960
Speaker 4: you consider that the proposal was for a two point

396
00:21:57,960 --> 00:22:03,439
Speaker 4: one billion dollar arena of entertainment complex district. What kind

397
00:22:03,440 --> 00:22:05,560
Speaker 4: of number just two hudred million look like compared to

398
00:22:05,880 --> 00:22:09,720
Speaker 4: other cities that have rejected these kinds of proposals in

399
00:22:09,720 --> 00:22:10,119
Speaker 4: the past.

400
00:22:11,119 --> 00:22:17,119
Speaker 7: So in Arizona, actually they rejected a tax increase that

401
00:22:17,160 --> 00:22:21,439
Speaker 7: would have gone towards funding the Arizona Cardinal Stadium a

402
00:22:21,440 --> 00:22:26,480
Speaker 7: couple of years ago. But I haven't seen these deals

403
00:22:26,520 --> 00:22:29,159
Speaker 7: don't get brought up in referendums that often. There are

404
00:22:29,200 --> 00:22:34,000
Speaker 7: a few states where it happens Colorado is one of them. Arizona, California.

405
00:22:34,040 --> 00:22:37,880
Speaker 7: We saw the San Diego Chargers Stadium recently get rejected,

406
00:22:39,040 --> 00:22:42,040
Speaker 7: so in comparison to those deals, it still was a

407
00:22:42,400 --> 00:22:45,199
Speaker 7: relatively small public funding component, and like you said, they

408
00:22:45,200 --> 00:22:46,960
Speaker 7: were going to get a two point one billion dollar

409
00:22:47,000 --> 00:22:47,800
Speaker 7: development out of it.

410
00:22:48,080 --> 00:22:50,640
Speaker 6: Well, Max learns Super pac What she's using, I guess

411
00:22:50,480 --> 00:22:53,280
Speaker 6: as a basis for you know, for her position is

412
00:22:53,359 --> 00:22:55,919
Speaker 6: increase traffic, a lack of affordable housing and the like.

413
00:22:56,000 --> 00:22:58,160
Speaker 6: But you know, I want to kind of just read

414
00:22:58,160 --> 00:23:00,439
Speaker 6: something here from Dennis Hoffman and Arizona State where he

415
00:23:00,520 --> 00:23:05,000
Speaker 6: said Arizona has an envy problem, that they're envious of

416
00:23:05,080 --> 00:23:07,520
Speaker 6: people that have money, and that there are some that

417
00:23:07,640 --> 00:23:11,399
Speaker 6: are envious skeptical of the entire development community. Now this

418
00:23:11,480 --> 00:23:13,600
Speaker 6: is Phoenix, Arizona. It's one of the hottest cities in

419
00:23:13,640 --> 00:23:16,160
Speaker 6: the world. To talk to us about that statement.

420
00:23:16,200 --> 00:23:20,560
Speaker 7: Yeah, I don't know if that's necessarily particular to Arizona.

421
00:23:20,680 --> 00:23:22,800
Speaker 7: I think anytime you're going to go out and start

422
00:23:22,880 --> 00:23:26,640
Speaker 7: calling out corrupt billionaires, that's going to resonate with people

423
00:23:26,680 --> 00:23:27,000
Speaker 7: a lot.

424
00:23:27,119 --> 00:23:30,080
Speaker 6: But we was there like a populus tilt to this

425
00:23:30,119 --> 00:23:32,640
Speaker 6: is exactly my point. Was there any other gaming going

426
00:23:32,640 --> 00:23:34,920
Speaker 6: on behind the scenes politically, at mean, I imagine.

427
00:23:34,560 --> 00:23:38,760
Speaker 7: There was yes, and I have not confirmed this, but

428
00:23:40,280 --> 00:23:44,240
Speaker 7: there was talk that California labor unions were heavily invested

429
00:23:44,240 --> 00:23:46,359
Speaker 7: in this, and that because Arizona is a right to

430
00:23:46,359 --> 00:23:48,960
Speaker 7: work state, that they were trying to get a strong

431
00:23:48,960 --> 00:23:54,200
Speaker 7: foothold and use this issue to push out their agenda.

432
00:23:55,000 --> 00:23:57,520
Speaker 1: I want to go back to Lauren Cooby because she,

433
00:23:57,680 --> 00:24:01,120
Speaker 1: again she played a very big part of it in

434
00:24:01,200 --> 00:24:04,840
Speaker 1: the opinion of, hey, we should not do this. He

435
00:24:04,920 --> 00:24:08,560
Speaker 1: was saying that, you see, these do not work well

436
00:24:08,600 --> 00:24:12,600
Speaker 1: for communities. But I've seen it on both sides. I've

437
00:24:12,600 --> 00:24:14,800
Speaker 1: seen it work well for some and I've seen it

438
00:24:14,840 --> 00:24:20,240
Speaker 1: work not so well for others. I just, how can

439
00:24:20,280 --> 00:24:24,160
Speaker 1: I put this delicately? Is Tempe shooting thisself in the foot?

440
00:24:24,800 --> 00:24:28,119
Speaker 7: Lauren's right? I mean, most of these deals totally underdeliver

441
00:24:28,280 --> 00:24:31,000
Speaker 7: on the economic promises that they make, and they usually

442
00:24:31,160 --> 00:24:36,480
Speaker 7: underestimate the cost of the projects. Simultaneously, these teams are

443
00:24:36,520 --> 00:24:40,800
Speaker 7: putting cities in very tough positions. So Arizona, the Arizona

444
00:24:40,800 --> 00:24:43,399
Speaker 7: Coyotes could go out and negotiate with another city behind

445
00:24:43,400 --> 00:24:46,760
Speaker 7: the scene, you know, and that kind of forces Tempe

446
00:24:46,800 --> 00:24:51,320
Speaker 7: and Phoenix's hand at trying to give them a solution. Ultimately,

447
00:24:51,359 --> 00:24:53,040
Speaker 7: these deals do not turn out to be good for

448
00:24:53,080 --> 00:24:57,320
Speaker 7: the communities generally, but that still doesn't mean that there's

449
00:24:57,359 --> 00:25:00,600
Speaker 7: not going to be some type of social or economic

450
00:25:00,640 --> 00:25:04,000
Speaker 7: loss associated with losing a team. And now that they

451
00:25:04,000 --> 00:25:06,199
Speaker 7: did not come through with the stadium, there's lots of

452
00:25:06,240 --> 00:25:09,520
Speaker 7: talk about relocation. The mayor of Kansas City came out

453
00:25:09,560 --> 00:25:11,960
Speaker 7: this morning saying that he would love to have the

454
00:25:12,000 --> 00:25:16,120
Speaker 7: Coyotes relocate there. Atlanta, which recently lost a team to Winnipeg,

455
00:25:16,200 --> 00:25:17,640
Speaker 7: is out there trying to get one of the next

456
00:25:17,680 --> 00:25:21,639
Speaker 7: expansion teams, as is Houston and Quebec City. So there

457
00:25:21,640 --> 00:25:23,320
Speaker 7: are a lot of different cities that would love to

458
00:25:23,359 --> 00:25:27,320
Speaker 7: have these teams come there, and it just puts the

459
00:25:27,359 --> 00:25:31,000
Speaker 7: mayors and it puts the cities in bad positions, which

460
00:25:31,040 --> 00:25:35,760
Speaker 7: bring me to just a bigger point. So anyone who's

461
00:25:35,800 --> 00:25:38,119
Speaker 7: a sports fan will understand this sentiment. Even though the

462
00:25:38,160 --> 00:25:41,640
Speaker 7: owners own these teams, they don't necessarily belong to them,

463
00:25:42,000 --> 00:25:44,840
Speaker 7: you know, like the fans and the community play a

464
00:25:44,880 --> 00:25:47,639
Speaker 7: big part in that. And we allow these leagues to

465
00:25:47,680 --> 00:25:52,400
Speaker 7: function as monopolies. Yet we don't offer the fans any

466
00:25:52,440 --> 00:25:56,520
Speaker 7: consumer protections. You know, so your Oakland Athletics could move

467
00:25:56,560 --> 00:26:01,000
Speaker 7: to Las Vegas tomorrow and there's nothing protecting that. But

468
00:26:01,520 --> 00:26:05,159
Speaker 7: yet we allow these teams to shop around different cities

469
00:26:05,160 --> 00:26:07,679
Speaker 7: for the best offer all the time. And it really

470
00:26:07,920 --> 00:26:09,919
Speaker 7: the people that end up getting affected are the fans

471
00:26:09,960 --> 00:26:12,159
Speaker 7: and the taxpayers who end up having to foot the

472
00:26:12,160 --> 00:26:15,480
Speaker 7: bill for these stadiums and then end up losing these

473
00:26:15,480 --> 00:26:18,119
Speaker 7: teams that they absolutely love. And I don't want to

474
00:26:18,160 --> 00:26:21,840
Speaker 7: sound too idealistic, but when the teams leave, fans lose

475
00:26:21,880 --> 00:26:25,719
Speaker 7: a big part of themselves and there maybe should be

476
00:26:25,760 --> 00:26:26,960
Speaker 7: some type of consumer protection.

477
00:26:27,200 --> 00:26:29,679
Speaker 6: Well that's what I feel. I feel obligated to inform

478
00:26:29,720 --> 00:26:32,240
Speaker 6: our audience also about Lawrence Kobe. I mean, in addition

479
00:26:32,280 --> 00:26:34,200
Speaker 6: to you know, her being a Democrat from the area

480
00:26:34,200 --> 00:26:37,120
Speaker 6: and all that good stuff, she was also the manager

481
00:26:37,240 --> 00:26:39,600
Speaker 6: of Arizona State start a center for affordable homes in

482
00:26:39,600 --> 00:26:41,520
Speaker 6: the family, so there seems to be some you know,

483
00:26:41,680 --> 00:26:43,959
Speaker 6: real connection there and that you know, there is a

484
00:26:43,960 --> 00:26:47,080
Speaker 6: bit of sincerity regarding what she really believes. So it's

485
00:26:47,119 --> 00:26:48,679
Speaker 6: not like she's trying to make this all about a

486
00:26:48,680 --> 00:26:50,600
Speaker 6: political you know whoah.

487
00:26:50,359 --> 00:26:52,600
Speaker 7: Most definitely, and the truth about this deal is that

488
00:26:52,640 --> 00:26:55,639
Speaker 7: it did come with a lot less So most of

489
00:26:55,640 --> 00:26:58,440
Speaker 7: these deals come with a community benefits agreement, and in

490
00:26:58,480 --> 00:27:03,000
Speaker 7: that the city could force the Tennessee Titans or the

491
00:27:03,080 --> 00:27:05,680
Speaker 7: Las Vegas Raiders to build x amount of affordable housing

492
00:27:05,800 --> 00:27:10,280
Speaker 7: units in the facilities and developments that surround their new arenas.

493
00:27:10,880 --> 00:27:13,040
Speaker 7: Because a lot of this was going to be privately funded,

494
00:27:13,600 --> 00:27:15,359
Speaker 7: most of the homes that were going to be built

495
00:27:15,680 --> 00:27:20,080
Speaker 7: in this community would have been catering to a wealthier demographic,

496
00:27:20,640 --> 00:27:23,320
Speaker 7: and that very much upset people like Lauren Kobe who

497
00:27:23,320 --> 00:27:27,920
Speaker 7: would have liked to have seen greater community benefits come

498
00:27:27,960 --> 00:27:28,520
Speaker 7: from this deal.

499
00:27:28,600 --> 00:27:30,800
Speaker 4: And that's where you get the envy quote that Damien

500
00:27:30,880 --> 00:27:33,639
Speaker 4: was just sharing with us. You had mentioned earlier about

501
00:27:33,680 --> 00:27:37,560
Speaker 4: the arena or stadium that the city of Buffalo is

502
00:27:37,600 --> 00:27:40,560
Speaker 4: going to build for the Buffalo Bills, and how that's

503
00:27:40,920 --> 00:27:43,600
Speaker 4: multiples of what this would have cost the city of Tempe.

504
00:27:43,840 --> 00:27:47,320
Speaker 4: Is it unusual that this was taken to a vote

505
00:27:48,040 --> 00:27:50,959
Speaker 4: for the public, because I don't recall that the Buffalo

506
00:27:51,000 --> 00:27:54,359
Speaker 4: Bills stadium was put to voters.

507
00:27:54,480 --> 00:27:57,320
Speaker 7: Yeah, so it depends on the state. In Arizona. Any

508
00:27:57,359 --> 00:28:01,440
Speaker 7: time that you're changing the land, you say they could

509
00:28:01,480 --> 00:28:03,920
Speaker 7: bring it to a referendum, and the threshold to get

510
00:28:03,920 --> 00:28:06,760
Speaker 7: a referendum was extremely low, so I only needed to

511
00:28:06,760 --> 00:28:10,800
Speaker 7: get two thousand signatures on the ballot. Two thousand signatures

512
00:28:10,840 --> 00:28:13,800
Speaker 7: to get this onto the ballot, because it's like ten

513
00:28:13,840 --> 00:28:18,040
Speaker 7: percent of the voters that participated in the previous election,

514
00:28:18,520 --> 00:28:22,200
Speaker 7: and they had a relatively low turnout, So it did

515
00:28:22,240 --> 00:28:25,520
Speaker 7: seem That's why I was kind of surprised that the

516
00:28:25,600 --> 00:28:29,240
Speaker 7: vote this went this way. My reporting did not indicate

517
00:28:29,280 --> 00:28:32,080
Speaker 7: that there was that much of a groundswell of opposition

518
00:28:32,119 --> 00:28:34,960
Speaker 7: aside from the Tempe First people, but it does seem

519
00:28:35,000 --> 00:28:37,040
Speaker 7: like their messaging was really strong. When it came to

520
00:28:37,080 --> 00:28:40,120
Speaker 7: election day.

521
00:28:39,120 --> 00:28:42,920
Speaker 1: The voters came out and it was about all over

522
00:28:43,000 --> 00:28:47,840
Speaker 1: thirty thousand voters involved in this, which is a turnout

523
00:28:47,840 --> 00:28:51,480
Speaker 1: of about thirty two point six percent, and each of

524
00:28:51,520 --> 00:28:55,719
Speaker 1: the ballot measures, all three lost by a margin of

525
00:28:55,800 --> 00:28:59,920
Speaker 1: three thousand votes each. I wonder, if you are on

526
00:29:00,080 --> 00:29:03,479
Speaker 1: on the other side of this where you wanted this

527
00:29:03,600 --> 00:29:08,640
Speaker 1: to come out, could someone have done a job of saying, Hey,

528
00:29:08,840 --> 00:29:12,080
Speaker 1: get out there and vote for this folks.

529
00:29:13,160 --> 00:29:16,040
Speaker 7: Yes, I think that the messaging on the other side

530
00:29:16,040 --> 00:29:20,840
Speaker 7: could have been stronger. Their big slogan was turning a

531
00:29:20,920 --> 00:29:24,120
Speaker 7: landfill to a landmark, And it does seem like so

532
00:29:24,440 --> 00:29:26,880
Speaker 7: they were trying to make this like it was environmentally

533
00:29:26,920 --> 00:29:29,960
Speaker 7: good for the community. The site of the proposed arena

534
00:29:31,040 --> 00:29:34,080
Speaker 7: is an abandoned landfill. The Coyotes were claiming that there

535
00:29:34,120 --> 00:29:38,000
Speaker 7: were millions of tons of methane gas that was trapped

536
00:29:38,080 --> 00:29:40,480
Speaker 7: underneath this, and their remediation was going to really help

537
00:29:40,520 --> 00:29:45,480
Speaker 7: the area getting all that methane out. The opposition went

538
00:29:45,520 --> 00:29:48,200
Speaker 7: on the offensive on that and said that by building

539
00:29:48,200 --> 00:29:50,160
Speaker 7: another ice rink it was going to be horrible for

540
00:29:50,200 --> 00:29:53,000
Speaker 7: the region that's already suffering from a lot of water

541
00:29:53,120 --> 00:29:56,440
Speaker 7: usage problems. So upon further reporting, it did seem like

542
00:29:56,480 --> 00:29:58,240
Speaker 7: that was a bit of a red herring, saying that

543
00:29:59,520 --> 00:30:01,880
Speaker 7: creating an shrink was going to add to the water

544
00:30:01,960 --> 00:30:05,080
Speaker 7: usage problems in the area. It seems like it's less

545
00:30:05,160 --> 00:30:07,560
Speaker 7: of an issue with quantity and more of an issue

546
00:30:07,560 --> 00:30:09,720
Speaker 7: with just properly using it and allocating it to the

547
00:30:09,800 --> 00:30:11,960
Speaker 7: right people. But it was a tough battle.

548
00:30:12,080 --> 00:30:14,560
Speaker 1: Well, it looks like it would be a nice shortage.

549
00:30:14,880 --> 00:30:17,440
Speaker 1: See what I did. See you did the hockey thing,

550
00:30:17,600 --> 00:30:23,040
Speaker 1: and now, okay, alright, Anyway, I was proud of it.

551
00:30:23,120 --> 00:30:24,040
Speaker 1: I thought it was funny.

552
00:30:24,360 --> 00:30:24,479
Speaker 3: Uh.

553
00:30:25,560 --> 00:30:29,280
Speaker 1: Max Adler a man our own Bloomberg's Max Adler with

554
00:30:29,320 --> 00:30:32,920
Speaker 1: a great article again with Max and Amanda Albright. Check

555
00:30:32,920 --> 00:30:36,560
Speaker 1: it out on the Bloomberg terminal about the Arizona Coyotes. Max,

556
00:30:36,600 --> 00:30:38,520
Speaker 1: thank you man for joining us in the Bloomberg Business

557
00:30:38,520 --> 00:30:38,920
Speaker 1: of Sports.

558
00:30:38,960 --> 00:30:40,520
Speaker 7: It was a pleasure being here. Thank you for having

559
00:30:40,600 --> 00:30:41,080
Speaker 7: me up.

560
00:30:41,080 --> 00:30:44,600
Speaker 1: Next on the show, Marty Eedle, co chair at Gulston

561
00:30:44,640 --> 00:30:48,320
Speaker 1: and Stores Sports Law Practice, an adjunct professor of law

562
00:30:48,360 --> 00:30:52,360
Speaker 1: at Columbia University, joins the program to discuss a myriad

563
00:30:52,560 --> 00:30:55,720
Speaker 1: of illegal issues in the sports world. That straight ahead.

564
00:30:55,800 --> 00:30:58,760
Speaker 1: On the Bloomberg Business of Sports, Michael Barr along with

565
00:30:58,800 --> 00:31:07,440
Speaker 1: Scarlett bow and Damien's SaaS Hour. This is Bloomberg. You're

566
00:31:07,520 --> 00:31:13,000
Speaker 1: listening to Bloomberg Business of Sports from Bloomberg Radio. Hello,

567
00:31:13,120 --> 00:31:16,080
Speaker 1: Welcome to Bloomberg Business of Sports podcast. We explore some

568
00:31:16,160 --> 00:31:17,800
Speaker 1: of the big money issues in the world of sports.

569
00:31:17,840 --> 00:31:20,920
Speaker 6: I'm Michael Barn, I'm Scarlett Fou and I'm Damian sas Hour.

570
00:31:21,160 --> 00:31:26,520
Speaker 1: Oh my, it's old friends week here at Bloomberg. Marty Edle,

571
00:31:26,920 --> 00:31:29,320
Speaker 1: see we're supposed to call him Martin Edle. On the

572
00:31:29,360 --> 00:31:32,400
Speaker 1: first reference, but he's old friends. So it's Marty Edle.

573
00:31:32,320 --> 00:31:34,280
Speaker 4: Coaching all second references here, Yeah.

574
00:31:34,160 --> 00:31:38,440
Speaker 1: It is now Yeah coach Jerry Gulston and Stear's sports

575
00:31:38,520 --> 00:31:44,320
Speaker 1: law practice. Also adjunct professor of law at Columbia University. Marty,

576
00:31:44,520 --> 00:31:47,800
Speaker 1: welcome back to the Bloomberg Business of Sports.

577
00:31:47,840 --> 00:31:50,200
Speaker 3: So nice of you to have me back again. Thank you.

578
00:31:50,920 --> 00:31:54,600
Speaker 1: Let's start with one of the stories that's making news

579
00:31:54,640 --> 00:31:57,160
Speaker 1: in the NBA, and it's about Ja Morant and the

580
00:31:57,240 --> 00:32:02,080
Speaker 1: latest gun video and what comes next. NBA Commissioner Adam

581
00:32:02,160 --> 00:32:04,200
Speaker 1: Silver commented on this, Let's give a listen.

582
00:32:04,440 --> 00:32:08,480
Speaker 8: Honestly, I was shocked when I saw this weekend that video.

583
00:32:08,680 --> 00:32:12,400
Speaker 8: Now we're in the process of investigating it and we'll

584
00:32:12,400 --> 00:32:14,880
Speaker 8: figure out exactly what happened to the best we can.

585
00:32:15,040 --> 00:32:17,600
Speaker 8: Then it's again it's the videos of the Guini and

586
00:32:17,640 --> 00:32:20,040
Speaker 8: all that, but I'm assuming the worst.

587
00:32:20,000 --> 00:32:23,400
Speaker 1: That was Adam Silver courtesy of the audio from ESPN.

588
00:32:23,840 --> 00:32:27,960
Speaker 1: I have read a myriad of opinions on this, everything

589
00:32:28,080 --> 00:32:32,880
Speaker 1: from just what Adam Silver said to other columns saying, well,

590
00:32:32,920 --> 00:32:36,400
Speaker 1: what did John Morant do that was wrong? So I'm

591
00:32:36,440 --> 00:32:39,760
Speaker 1: going to ask you, Marty Eedle, your thoughts about this.

592
00:32:40,120 --> 00:32:44,520
Speaker 3: Well, thank you. So here is a player who, for

593
00:32:44,560 --> 00:32:49,160
Speaker 3: the second time in two months, has been brandishing weapons

594
00:32:49,640 --> 00:32:53,720
Speaker 3: in videos. He was worn the first time, suspended the

595
00:32:53,760 --> 00:32:59,400
Speaker 3: first time by the league and took full accountability according

596
00:32:59,440 --> 00:33:02,280
Speaker 3: to a statement after the first time, and then seems

597
00:33:02,320 --> 00:33:06,240
Speaker 3: to repeat the problem. This is not a good thing

598
00:33:06,360 --> 00:33:10,920
Speaker 3: for the league, not where. It's the league, it's fans,

599
00:33:11,160 --> 00:33:15,720
Speaker 3: it's teams, and its sponsors. So I think Commissioner Silver

600
00:33:15,840 --> 00:33:18,920
Speaker 3: is going to look long and hard into what is

601
00:33:18,960 --> 00:33:22,800
Speaker 3: the appropriate way of dealing with this under the league rules.

602
00:33:24,040 --> 00:33:26,320
Speaker 4: How involved should the players Association get with this?

603
00:33:27,920 --> 00:33:32,520
Speaker 3: Well, the players Association has a real role here, although

604
00:33:32,520 --> 00:33:35,560
Speaker 3: it's up to the commissioner too, in the at least

605
00:33:35,600 --> 00:33:40,800
Speaker 3: the first instance, to determine what sort of investigation should proceed,

606
00:33:40,960 --> 00:33:45,480
Speaker 3: what sort of do process should he? Accord to John Morant.

607
00:33:45,920 --> 00:33:49,160
Speaker 4: Wait, so the player's association can only react essentially.

608
00:33:49,640 --> 00:33:52,959
Speaker 3: That's correct, That's correct. It can make it could be

609
00:33:53,120 --> 00:33:55,960
Speaker 3: proactive in sense of making statements.

610
00:33:55,440 --> 00:33:55,600
Speaker 2: But.

611
00:33:57,120 --> 00:34:00,320
Speaker 3: That they would release to the media. But this is

612
00:34:00,400 --> 00:34:04,760
Speaker 3: essentially a league issue. It would be a team issue, Scarlett.

613
00:34:04,800 --> 00:34:07,000
Speaker 3: But I think the league has usurped the rights of

614
00:34:07,040 --> 00:34:11,240
Speaker 3: the team here because it presents a stronger and more

615
00:34:11,280 --> 00:34:13,760
Speaker 3: important issue for the entire league.

616
00:34:14,080 --> 00:34:16,759
Speaker 6: Marty, what Marty, what type of penalty do you think

617
00:34:16,760 --> 00:34:19,040
Speaker 6: the league's going to impose after this? I mean, certainly

618
00:34:19,160 --> 00:34:23,200
Speaker 6: the egg on you know, Commissioner Silver's face notwithstanding. But

619
00:34:23,400 --> 00:34:25,759
Speaker 6: you know, this is this is sort of a it's

620
00:34:25,800 --> 00:34:28,040
Speaker 6: becoming a pattern here. I mean Devonte Pack, you know

621
00:34:28,080 --> 00:34:30,560
Speaker 6: who whose Instagram account it was, is a good friend

622
00:34:30,560 --> 00:34:32,719
Speaker 6: of John Morant. I mean there's been, you know, kind

623
00:34:32,760 --> 00:34:35,759
Speaker 6: of allegations that you know, he's been involved in some

624
00:34:35,840 --> 00:34:38,880
Speaker 6: other sort of nefarious kind of undertakings. I wonder if

625
00:34:38,880 --> 00:34:40,880
Speaker 6: you could just comment briefly on what you think a

626
00:34:41,200 --> 00:34:42,799
Speaker 6: Commissioner Silver's reaction is going to be.

627
00:34:45,880 --> 00:34:50,560
Speaker 3: I think that's a great question. Suspension by itself doesn't

628
00:34:50,560 --> 00:34:53,440
Speaker 3: seem to be an adequate remedy. I mean, even a

629
00:34:53,520 --> 00:34:58,160
Speaker 3: long suspension might not be an adequate memory remedy, because

630
00:34:58,280 --> 00:35:04,200
Speaker 3: the point here is to educate players and their friends

631
00:35:05,080 --> 00:35:08,280
Speaker 3: about what is appropriate behavior in the league. What sort

632
00:35:08,400 --> 00:35:14,839
Speaker 3: of model are they setting for future players, fans, and

633
00:35:14,920 --> 00:35:20,040
Speaker 3: sponsors to attract sponsors to the league. So I think

634
00:35:20,080 --> 00:35:26,640
Speaker 3: it education may be an important part of the remediation here.

635
00:35:27,600 --> 00:35:31,839
Speaker 3: Assuming that the Commissioner finds that there was something improper,

636
00:35:33,239 --> 00:35:36,360
Speaker 3: suspension is probably in the cards, because that's what seems

637
00:35:36,360 --> 00:35:42,120
Speaker 3: to have happened quite often. But you know what I'm

638
00:35:42,160 --> 00:35:45,440
Speaker 3: hoping is that Commissioner Silver in the NBA will find

639
00:35:45,480 --> 00:35:49,720
Speaker 3: some appropriate way of dealing with this which we haven't

640
00:35:49,800 --> 00:35:54,359
Speaker 3: seen yet, such as maybe a public apology, a very

641
00:35:54,400 --> 00:35:57,440
Speaker 3: public apology combined with an educational program.

642
00:35:57,760 --> 00:35:59,480
Speaker 6: Is there any way you think the league suspends them

643
00:35:59,480 --> 00:36:00,160
Speaker 6: for life.

644
00:36:02,080 --> 00:36:05,120
Speaker 3: I don't think that's going to be the case. I

645
00:36:05,160 --> 00:36:09,439
Speaker 3: think that's too strong a message. He was brandishing a gun,

646
00:36:10,200 --> 00:36:15,719
Speaker 3: he wasn't shooting at people. It was the wrong message

647
00:36:16,360 --> 00:36:20,640
Speaker 3: for any player to present, for the image of the

648
00:36:20,760 --> 00:36:24,400
Speaker 3: league to have. But I don't think a lifetime suspension

649
00:36:24,640 --> 00:36:27,880
Speaker 3: is the appropriate remedy here. I think that's much too harsh.

650
00:36:28,040 --> 00:36:30,640
Speaker 1: There are so many topics we need to talk about.

651
00:36:31,320 --> 00:36:34,360
Speaker 1: Let's go now to the Oakland Athletics. It's saying, you

652
00:36:34,400 --> 00:36:38,520
Speaker 1: know what, I'm liking that Las Vegas thing, especially right

653
00:36:38,600 --> 00:36:42,400
Speaker 1: behind the strip. Oh yeah, just behind the Tropicana Resort,

654
00:36:42,760 --> 00:36:47,200
Speaker 1: and it looks pretty much at the Oakland A's are

655
00:36:47,200 --> 00:36:50,120
Speaker 1: now going to be called the Las Vegas as Martin.

656
00:36:51,080 --> 00:36:54,399
Speaker 3: Or maybe they'll be called the Dean Martin as Dean

657
00:36:54,480 --> 00:37:00,000
Speaker 3: Martin Drive. So you know, as we know, the Oakland

658
00:37:00,320 --> 00:37:07,320
Speaker 3: have been a not entirely successful franchise. Over the last decade,

659
00:37:07,440 --> 00:37:11,160
Speaker 3: they've had slipping attendance in Oakland. They've looked for new homes,

660
00:37:11,400 --> 00:37:16,319
Speaker 3: and Las Vegas seems to present a great opportunity. It's,

661
00:37:16,400 --> 00:37:19,040
Speaker 3: you know, from what I've read, it's a one point

662
00:37:19,080 --> 00:37:25,680
Speaker 3: five billion dollar development which will enhance southern Nevada, uh,

663
00:37:26,200 --> 00:37:29,680
Speaker 3: bring a lot of jobs there and maybe create a

664
00:37:29,800 --> 00:37:35,560
Speaker 3: new base of interest for the Dean Martin North Las

665
00:37:35,680 --> 00:37:36,520
Speaker 3: Vegas as.

666
00:37:39,040 --> 00:37:39,200
Speaker 5: Well.

667
00:37:39,200 --> 00:37:41,200
Speaker 3: I'll tell you that I think it's a great opportunity.

668
00:37:41,560 --> 00:37:43,239
Speaker 6: Well, I'll tell you this, Marty. I mean, it's it's

669
00:37:43,280 --> 00:37:45,360
Speaker 6: still far from done, right, And I think when we

670
00:37:45,400 --> 00:37:47,680
Speaker 6: think about stadiums getting done in this day and age,

671
00:37:47,680 --> 00:37:49,279
Speaker 6: you know, we look no further than you know, our

672
00:37:49,280 --> 00:37:51,719
Speaker 6: friends in Phoenix right where the Arizona Coyotes. You know,

673
00:37:51,719 --> 00:37:54,560
Speaker 6: we're attempting to get approval for a two point one

674
00:37:54,600 --> 00:37:58,480
Speaker 6: billion dollar NHL arena, which was defeated by voters. You know,

675
00:37:58,560 --> 00:38:00,640
Speaker 6: and I think it's a really interesting thing that you know,

676
00:38:00,800 --> 00:38:03,239
Speaker 6: in Arizona, you know, we get a sense of you

677
00:38:03,280 --> 00:38:05,719
Speaker 6: know what you know, the community really believes and from

678
00:38:05,719 --> 00:38:08,720
Speaker 6: what I hear, they didn't think too much of this project, Marty.

679
00:38:08,760 --> 00:38:10,440
Speaker 6: I mean, you know, talk to us a little bit

680
00:38:10,480 --> 00:38:12,919
Speaker 6: about the process and what's gone on there.

681
00:38:14,120 --> 00:38:16,880
Speaker 3: So so that's a great question, Damian, and thank you

682
00:38:16,960 --> 00:38:20,799
Speaker 3: for asking it. What we had, what we saw in

683
00:38:20,920 --> 00:38:27,760
Speaker 3: Tempe was a project, but it really didn't define whether

684
00:38:27,880 --> 00:38:31,400
Speaker 3: or not the n A NHL would have or the

685
00:38:33,080 --> 00:38:38,120
Speaker 3: or the Coyotes would have a stake in the expenses

686
00:38:38,440 --> 00:38:40,840
Speaker 3: that and the capital development costs. It seemed to be

687
00:38:40,880 --> 00:38:44,359
Speaker 3: all undertaken by the city and state, and I think

688
00:38:44,400 --> 00:38:49,440
Speaker 3: that's what voters may have objected to. There were elements

689
00:38:49,520 --> 00:38:53,680
Speaker 3: of an entertainment complex in Tempe, which would have been great.

690
00:38:53,719 --> 00:38:56,879
Speaker 3: It would have brought jobs there construction as well as

691
00:38:56,960 --> 00:39:00,959
Speaker 3: new jobs. There were some housing, but from what I read,

692
00:39:01,000 --> 00:39:05,200
Speaker 3: not enough affordable housing in the area. And that was

693
00:39:05,280 --> 00:39:10,120
Speaker 3: probably a boat that sort of slipped away from what

694
00:39:10,840 --> 00:39:13,000
Speaker 3: should have happened over there.

695
00:39:13,400 --> 00:39:15,920
Speaker 4: Okay, I hear what you're saying. But it's interesting because

696
00:39:16,480 --> 00:39:19,880
Speaker 4: we had been at least part of the framing by

697
00:39:20,000 --> 00:39:23,560
Speaker 4: the Arizona Coyotes franchise was that this would be a

698
00:39:23,680 --> 00:39:27,440
Speaker 4: two point one billion dollar arena and entertainment project that

699
00:39:27,440 --> 00:39:30,480
Speaker 4: would be one hundred percent privately financed by the owner,

700
00:39:30,520 --> 00:39:34,400
Speaker 4: Alex Morello, And that seemed to be what they were

701
00:39:34,480 --> 00:39:36,440
Speaker 4: kind of banking on when they took it to voters.

702
00:39:36,800 --> 00:39:39,640
Speaker 4: Does that mean that voters are looking past this idea

703
00:39:39,680 --> 00:39:43,200
Speaker 4: that they would subsidize the construction the development of the

704
00:39:43,320 --> 00:39:47,920
Speaker 4: actual project, and now look to lifestyle issues and the

705
00:39:48,000 --> 00:39:51,440
Speaker 4: impact that would have on day to day life.

706
00:39:51,760 --> 00:39:54,719
Speaker 3: So I think, again, that's a great question. I think

707
00:39:54,800 --> 00:39:57,399
Speaker 3: that's part of the equation, but it doesn't talk about

708
00:39:57,400 --> 00:40:02,080
Speaker 3: the entire equation. You know, what are the tax subsidies

709
00:40:02,120 --> 00:40:07,280
Speaker 3: that are going to be provided to the Coyotes to

710
00:40:07,360 --> 00:40:11,880
Speaker 3: develop and then run this entertainment complex. Was that something

711
00:40:11,920 --> 00:40:15,399
Speaker 3: that was out of whack with what voters thought they

712
00:40:15,440 --> 00:40:21,600
Speaker 3: ought to get. Somebody didn't make the case as fully

713
00:40:21,640 --> 00:40:24,239
Speaker 3: as perhaps it would have been made in the light

714
00:40:24,280 --> 00:40:29,440
Speaker 3: of the opposition that was going on. To me, at least,

715
00:40:29,480 --> 00:40:33,840
Speaker 3: the concept of building a stadium in an undeveloped area,

716
00:40:33,880 --> 00:40:36,400
Speaker 3: and again, from what I gathered, this may have been

717
00:40:36,440 --> 00:40:40,840
Speaker 3: the last undeveloped parcel in Tempe. I think it was

718
00:40:40,880 --> 00:40:48,480
Speaker 3: something like sixty two acres, and voters weren't sold by

719
00:40:48,560 --> 00:40:53,719
Speaker 3: what the Coyotes were offering, namely, a new complex, there

720
00:40:55,320 --> 00:41:00,120
Speaker 3: a new potential for new jobs and things like that.

721
00:41:00,239 --> 00:41:03,480
Speaker 3: They wanted something else, and maybe it was lifestyle, maybe

722
00:41:03,480 --> 00:41:06,880
Speaker 3: it was well and maybe it also was the concept

723
00:41:07,400 --> 00:41:10,320
Speaker 3: do we really want to watch ice hockey in an

724
00:41:10,440 --> 00:41:13,000
Speaker 3: environment where it's one hundred degrees.

725
00:41:12,520 --> 00:41:15,080
Speaker 4: Well, that's a whole separate question that the league, the

726
00:41:15,200 --> 00:41:18,000
Speaker 4: NHL needs to address. One thing I'm curious about is

727
00:41:18,000 --> 00:41:23,080
Speaker 4: that whenever there is some kind of big entertainment arena

728
00:41:23,800 --> 00:41:27,319
Speaker 4: complex being proposed, the city will come out and say, oh,

729
00:41:27,400 --> 00:41:30,440
Speaker 4: this will have a huge economic impact, and Tempe was

730
00:41:30,480 --> 00:41:32,759
Speaker 4: saying that it would have an impact of thirteen point

731
00:41:32,800 --> 00:41:37,120
Speaker 4: six billion dollars over thirty years. How credible are some

732
00:41:37,160 --> 00:41:39,160
Speaker 4: of these numbers? Is have we gotten to the point

733
00:41:39,160 --> 00:41:42,560
Speaker 4: where cities will trot out these numbers and voters realize

734
00:41:42,600 --> 00:41:44,840
Speaker 4: that this never comes to fruition.

735
00:41:46,400 --> 00:41:48,840
Speaker 3: So, Scarlett, the answer maybe that we all have a

736
00:41:48,880 --> 00:41:52,080
Speaker 3: healthy distrust of what politicians say these days.

737
00:41:52,760 --> 00:41:54,120
Speaker 4: I'd let you down to that path.

738
00:41:56,000 --> 00:42:02,600
Speaker 3: I haven't seen statistics compaign airing what the promises have

739
00:42:02,719 --> 00:42:08,120
Speaker 3: been with what's been delivered in other jurisdictions. I suspect

740
00:42:08,200 --> 00:42:12,040
Speaker 3: that there are certain benefits, and there are significant benefits

741
00:42:12,080 --> 00:42:17,520
Speaker 3: to developing an area, creating the new jobs that are there,

742
00:42:17,719 --> 00:42:24,000
Speaker 3: creating more tax revenues because people go to experience the entertainment,

743
00:42:24,080 --> 00:42:27,840
Speaker 3: and maybe even bringing in sponsors who might also create

744
00:42:27,880 --> 00:42:33,000
Speaker 3: a new tax base for the jurisdiction. So one of

745
00:42:33,040 --> 00:42:36,000
Speaker 3: the concepts here was the lack of affordable housing. Then

746
00:42:36,040 --> 00:42:39,640
Speaker 3: the theory of creating I think it was two thousand

747
00:42:39,640 --> 00:42:43,319
Speaker 3: apartments without any being affordable with something that may have

748
00:42:43,400 --> 00:42:44,960
Speaker 3: rubbed voters wrong.

749
00:42:46,320 --> 00:42:48,359
Speaker 6: So Marty, here's my question for you, and it's really

750
00:42:48,400 --> 00:42:51,560
Speaker 6: more qualitative one of that. I mean, you know, we

751
00:42:51,640 --> 00:42:53,920
Speaker 6: don't often see voters, you know, having the right to

752
00:42:53,960 --> 00:42:56,400
Speaker 6: approve or disapprove, you know, a proposition for a new project.

753
00:42:56,480 --> 00:42:56,560
Speaker 3: Right.

754
00:42:56,600 --> 00:42:58,839
Speaker 6: We saw this in San Diego in twenty sixteen when

755
00:42:58,880 --> 00:43:01,040
Speaker 6: they rejected the new state for the Chargers. The Chargers

756
00:43:01,040 --> 00:43:03,440
Speaker 6: are now in LA. You know, I think Sports Business

757
00:43:03,480 --> 00:43:07,120
Speaker 6: Journal said that sixty percent of the past fifty propositions

758
00:43:07,120 --> 00:43:10,440
Speaker 6: for you know, a new stadium or proper zoning requests,

759
00:43:10,440 --> 00:43:14,720
Speaker 6: et cetera, have passed. Do we believe that's now changing.

760
00:43:14,760 --> 00:43:17,840
Speaker 6: Do we think perhaps there's been a delusion of professional

761
00:43:17,840 --> 00:43:20,400
Speaker 6: sports that there's too many teams out there, and maybe

762
00:43:20,400 --> 00:43:22,719
Speaker 6: this is a function of that, or is this more

763
00:43:22,800 --> 00:43:26,080
Speaker 6: due to the idiosyncratic nature of the Tempe sort of

764
00:43:26,120 --> 00:43:27,880
Speaker 6: Phoenix Arizona marketplace.

765
00:43:29,360 --> 00:43:34,560
Speaker 3: So another great question. You know, the Tempe Phoenix Arizona

766
00:43:34,600 --> 00:43:38,919
Speaker 3: in the marketplace has a number of teams already there.

767
00:43:39,440 --> 00:43:45,080
Speaker 3: Would this create oversaturation? I don't think so. But maybe

768
00:43:45,160 --> 00:43:48,040
Speaker 3: voters said, why do we need a hockey team? We

769
00:43:48,200 --> 00:43:52,520
Speaker 3: like football or we like basketball, and maybe we don't

770
00:43:52,520 --> 00:43:56,880
Speaker 3: want to spend the money create the tax breaks here

771
00:43:56,920 --> 00:44:05,279
Speaker 3: for this entity that otherwise could go into more palatable

772
00:44:05,560 --> 00:44:10,240
Speaker 3: things for voters, such as affordable housing, quality of life

773
00:44:10,320 --> 00:44:12,400
Speaker 3: improvements in the area.

774
00:44:12,640 --> 00:44:16,560
Speaker 1: On to another topic, and let's talk name, image, likeness

775
00:44:16,560 --> 00:44:20,319
Speaker 1: and EA Sports. They're letting FBS players opt into the

776
00:44:20,360 --> 00:44:24,640
Speaker 1: twenty twenty four video game. Here we go, lots of

777
00:44:24,680 --> 00:44:29,920
Speaker 1: money to be made out there. College football fans, your thoughts, Marty.

778
00:44:30,840 --> 00:44:33,560
Speaker 3: This is a great development. This is what I think

779
00:44:35,080 --> 00:44:38,319
Speaker 3: should have been the offshoot of the Obanon suit back

780
00:44:38,360 --> 00:44:43,719
Speaker 3: in twenty fifteen. So it's only eight years later, but

781
00:44:44,560 --> 00:44:47,800
Speaker 3: you know, this is what college players should be entitled

782
00:44:47,800 --> 00:44:51,800
Speaker 3: to in a way that is getting compensated for the

783
00:44:51,880 --> 00:44:54,640
Speaker 3: use of their name, image, and likeness and finding revenue

784
00:44:54,719 --> 00:45:02,880
Speaker 3: sources for it. These are we knew had paid teams

785
00:45:03,520 --> 00:45:07,160
Speaker 3: prior to twenty fifteen but didn't compensate players. That was

786
00:45:07,200 --> 00:45:12,920
Speaker 3: the O'Bannon suit that ultimately held by the Ninth Circuit

787
00:45:13,000 --> 00:45:17,520
Speaker 3: Court of Appeals that name, image and likeness violated restrictions

788
00:45:17,560 --> 00:45:20,640
Speaker 3: on name, image and likeness violated the antitrust laws. So

789
00:45:20,680 --> 00:45:25,600
Speaker 3: now you have this embracing of it with the NCAA

790
00:45:25,680 --> 00:45:31,919
Speaker 3: having loosened its rules to permit name, image and likeness compensation.

791
00:45:32,640 --> 00:45:37,640
Speaker 3: I think it's a great development for college athletes. Many

792
00:45:37,680 --> 00:45:42,239
Speaker 3: of them will receive some compensation for the use of

793
00:45:42,280 --> 00:45:46,640
Speaker 3: their name and image, if not necessarily their likeness. I

794
00:45:46,719 --> 00:45:51,120
Speaker 3: understand EA is still trying to work out which players

795
00:45:51,160 --> 00:45:54,160
Speaker 3: are going to have their pictures there as well as

796
00:45:54,160 --> 00:46:00,480
Speaker 3: their statistics. A great development, I think in this long

797
00:46:01,120 --> 00:46:06,879
Speaker 3: saga of college players not being able to receive compensation

798
00:46:06,960 --> 00:46:08,440
Speaker 3: for their name, image, and likeness.

799
00:46:08,480 --> 00:46:12,160
Speaker 4: My understanding right now is that Notre Dame was one

800
00:46:12,200 --> 00:46:15,360
Speaker 4: of the small schools that indicated it would not agree

801
00:46:15,360 --> 00:46:17,960
Speaker 4: to participate until all the details were worked out, And

802
00:46:18,520 --> 00:46:20,759
Speaker 4: my understanding is that we still don't know whether that's

803
00:46:20,800 --> 00:46:23,320
Speaker 4: the case. What does that mean if a big powerhouse

804
00:46:23,320 --> 00:46:26,680
Speaker 4: school like Notre Dame sits it out or wants to

805
00:46:26,760 --> 00:46:28,960
Speaker 4: wait it out and see how things shake out.

806
00:46:29,000 --> 00:46:31,000
Speaker 6: Yeah, why are the fighting Irish being so difficult here?

807
00:46:31,560 --> 00:46:38,560
Speaker 3: Thank you Damien, because they're fighting so last I saw

808
00:46:38,640 --> 00:46:40,520
Speaker 3: there one hundred and twenty of the one hundred and

809
00:46:40,560 --> 00:46:45,200
Speaker 3: thirty three teams in the FBS had signed on for EA.

810
00:46:45,440 --> 00:46:48,080
Speaker 3: I think it's prudent for some teams to wait to

811
00:46:48,120 --> 00:46:51,160
Speaker 3: see what the details are. It would be hard ultimately

812
00:46:51,239 --> 00:46:54,040
Speaker 3: for Notre Dame. I think, to say, hey, we're going

813
00:46:54,080 --> 00:46:56,480
Speaker 3: to be the only FBS team that isn't going to

814
00:46:56,520 --> 00:46:58,520
Speaker 3: sign up for this. We're going to create our own

815
00:46:58,560 --> 00:47:02,160
Speaker 3: game doesn't make a lot of sense economically.

816
00:47:02,680 --> 00:47:07,080
Speaker 1: Hey, kids, not your Dame football games market.

817
00:47:07,120 --> 00:47:09,080
Speaker 4: It's only Notre Dame alums that would want to buy it.

818
00:47:09,640 --> 00:47:13,680
Speaker 3: Well, there's a substantial number of them, yeah, but probably

819
00:47:13,719 --> 00:47:15,600
Speaker 3: not enough for a recurring basis.

820
00:47:15,960 --> 00:47:17,839
Speaker 1: We call that the new RockNet Edition.

821
00:47:20,160 --> 00:47:21,799
Speaker 6: I'm just sad I'm not going to be able to play,

822
00:47:22,000 --> 00:47:24,799
Speaker 6: you know, Bryce Young on Sega on my saga. I

823
00:47:24,800 --> 00:47:29,239
Speaker 6: mean this is but seriously, yeah right, or Nintendo, I'm sorry.

824
00:47:29,280 --> 00:47:30,080
Speaker 1: Xbox.

825
00:47:31,560 --> 00:47:33,480
Speaker 3: BlackBerry, Yeah, right exactly.

826
00:47:33,560 --> 00:47:36,080
Speaker 1: Yell, go back to pong Man. How you doing?

827
00:47:38,000 --> 00:47:40,680
Speaker 6: But in all, seriously, Mark, serious, is Marty? It sounds like,

828
00:47:40,719 --> 00:47:43,560
Speaker 6: you know, there was a recent agreement where Wisconsin Northwestern

829
00:47:43,960 --> 00:47:45,959
Speaker 6: to Lane's TCU all just came in, So it sounds

830
00:47:46,000 --> 00:47:47,840
Speaker 6: like they're getting pretty close to making this reality.

831
00:47:47,880 --> 00:47:51,400
Speaker 3: I from what I read, I think that's the case.

832
00:47:51,760 --> 00:47:53,640
Speaker 3: As I said, I think it's a great development for

833
00:47:53,719 --> 00:47:57,360
Speaker 3: college athletes. Yeah, the devil is always in the details,

834
00:47:57,400 --> 00:48:01,560
Speaker 3: but I think this is one where schools will benefit,

835
00:48:02,080 --> 00:48:06,680
Speaker 3: players will benefit, and obviously EA is hoping to reap

836
00:48:06,800 --> 00:48:10,160
Speaker 3: the benefits of the schools and the players signing on here.

837
00:48:10,280 --> 00:48:13,200
Speaker 6: Well, Marty, I'll tell you one, you know, great college

838
00:48:13,200 --> 00:48:16,080
Speaker 6: football player who who's just recently who's now in the

839
00:48:16,160 --> 00:48:18,799
Speaker 6: NFL has getting some headlines here is Jamison Williams, who,

840
00:48:18,800 --> 00:48:20,719
Speaker 6: along with you know, four other players have now been

841
00:48:20,760 --> 00:48:24,600
Speaker 6: suspended from this basically, I think some were suspended for

842
00:48:24,640 --> 00:48:26,719
Speaker 6: six games each. I think Williams and another chap named

843
00:48:26,760 --> 00:48:28,760
Speaker 6: Barry Hill, and then the rest for the entire twenty

844
00:48:29,280 --> 00:48:34,520
Speaker 6: twenty three NFL season for violating the league's gambling policy.

845
00:48:34,600 --> 00:48:36,080
Speaker 6: Talk to us a little bit about what's going on

846
00:48:36,200 --> 00:48:37,880
Speaker 6: there and what we can expect.

847
00:48:38,560 --> 00:48:43,600
Speaker 3: So gambling is is an area in which leagues have

848
00:48:43,640 --> 00:48:47,719
Speaker 3: been conflicted for years. You know, go back to the

849
00:48:47,760 --> 00:48:52,200
Speaker 3: Black Sox in nineteen nineteen. Gambling used to be the

850
00:48:52,239 --> 00:48:57,080
Speaker 3: only vice which could get a player suspended for life

851
00:48:57,640 --> 00:49:02,080
Speaker 3: from a sport. You know, the college I'm revealing my

852
00:49:02,160 --> 00:49:05,040
Speaker 3: age here. We had the college basketball scandals in fifty one,

853
00:49:05,840 --> 00:49:12,800
Speaker 3: particularly with I think Liu back then and Jack Malinis.

854
00:49:13,560 --> 00:49:16,359
Speaker 3: Colleges are always on the presence they don't want to

855
00:49:16,600 --> 00:49:22,560
Speaker 3: encourage gambling of any sort. The pros have taken a

856
00:49:22,600 --> 00:49:26,560
Speaker 3: more liberal attitude, not in a political sense, but a

857
00:49:26,600 --> 00:49:31,920
Speaker 3: more liberal attitude towards endorsing gambling, and with sports betting

858
00:49:32,200 --> 00:49:36,680
Speaker 3: now being permitted around the countries, both colleges and professional

859
00:49:36,719 --> 00:49:41,400
Speaker 3: leagues are looking into are these truly good sources of

860
00:49:41,440 --> 00:49:45,320
Speaker 3: revenue for the league, for the teams, for the players,

861
00:49:45,920 --> 00:49:52,160
Speaker 3: and for colleges. But now you have an example with Williams.

862
00:49:52,200 --> 00:49:55,239
Speaker 3: Where should the line be drawn and what happens if

863
00:49:55,239 --> 00:49:59,400
Speaker 3: somebody crosses that line? That line is evolutionary, it's moving.

864
00:50:00,080 --> 00:50:02,880
Speaker 3: You bet on a game with a bunch of gangster,

865
00:50:03,000 --> 00:50:07,000
Speaker 3: should you be suspended? The answer probably is yes. If

866
00:50:07,080 --> 00:50:11,960
Speaker 3: you bet on it through fan duel and DraftKings. Is

867
00:50:12,000 --> 00:50:16,040
Speaker 3: that improper? And the answer is in most states no.

868
00:50:16,800 --> 00:50:20,240
Speaker 3: Some states still don't permit fan duels and draft kings,

869
00:50:20,520 --> 00:50:23,600
Speaker 3: but most states say, sure, go ahead. Now what happens

870
00:50:23,600 --> 00:50:27,920
Speaker 3: if the player decides, Gee, I really bet on the

871
00:50:27,960 --> 00:50:31,440
Speaker 3: outcome here. It's a performance based outcome. But if I

872
00:50:31,480 --> 00:50:33,960
Speaker 3: don't hit this jumper at the end of the game,

873
00:50:34,640 --> 00:50:36,920
Speaker 3: I'm really going to make a lot of money. We

874
00:50:37,040 --> 00:50:39,640
Speaker 3: haven't seen that yet, but it's a concern.

875
00:50:40,080 --> 00:50:43,120
Speaker 6: Well, Marty, let's just be clear here. James and Williams

876
00:50:43,160 --> 00:50:45,920
Speaker 6: and Stanley Berryhill too of the suspended, are only suspended

877
00:50:45,960 --> 00:50:48,399
Speaker 6: for six games. But why it's not because they bet

878
00:50:48,400 --> 00:50:51,920
Speaker 6: on NFL games specifically, They just bet, I believe while

879
00:50:52,000 --> 00:50:54,200
Speaker 6: inside an NFL facility. Is that right?

880
00:50:54,640 --> 00:50:58,400
Speaker 3: I think this is one of those areas where leagues

881
00:50:58,440 --> 00:51:01,520
Speaker 3: are still trying to come to grips with where should

882
00:51:01,520 --> 00:51:06,160
Speaker 3: the line be drawn? You know, there's no absolute Is

883
00:51:06,160 --> 00:51:09,560
Speaker 3: it absolutely right? Is it absolutely wrong? You know, assuming

884
00:51:09,719 --> 00:51:14,680
Speaker 3: Pete Rose only bet at Gold's gym, which was not

885
00:51:14,760 --> 00:51:16,759
Speaker 3: the case. He seemed to have bet, you know, with

886
00:51:16,800 --> 00:51:19,440
Speaker 3: bookies on the outcomes of actual games in which he

887
00:51:19,520 --> 00:51:21,320
Speaker 3: was playing. But let's say, you bet on other games?

888
00:51:21,760 --> 00:51:24,920
Speaker 3: Was that wrong? In his environment? It was? Would it

889
00:51:24,920 --> 00:51:28,680
Speaker 3: be wrong? Today? The line is getting closer to saying

890
00:51:28,719 --> 00:51:31,440
Speaker 3: that that may not have been entirely wrong, as long

891
00:51:31,480 --> 00:51:33,319
Speaker 3: as he didn't bet on the outcome of his own game.

892
00:51:33,560 --> 00:51:35,279
Speaker 6: Yeah, but I mean, I mean Marty, just to be clear,

893
00:51:35,320 --> 00:51:37,920
Speaker 6: I mean, I mean, you know, professional athletes. I mean,

894
00:51:37,960 --> 00:51:40,760
Speaker 6: you know, you've seen history of Michael. They play cards,

895
00:51:40,800 --> 00:51:42,799
Speaker 6: they roll dice, they do all sorts of things while

896
00:51:42,800 --> 00:51:45,040
Speaker 6: inside the facility right amongst themselves, just to kind of

897
00:51:45,040 --> 00:51:48,920
Speaker 6: blow steam, so to speak. And I think Alexander Karas,

898
00:51:49,000 --> 00:51:50,920
Speaker 6: who was suspended by the NFL back in the sixties,

899
00:51:50,920 --> 00:51:52,440
Speaker 6: I believe, said it best. You know, they asked them

900
00:51:52,440 --> 00:51:54,680
Speaker 6: to make a call on the coin tossed, and he said,

901
00:51:54,680 --> 00:51:57,040
Speaker 6: I'm sorry, I don't gamble anymore. Right, So you know,

902
00:51:57,120 --> 00:51:59,759
Speaker 6: at what point, you know, I mean, I mean, what

903
00:52:00,040 --> 00:52:02,160
Speaker 6: needs to happen next for the NFL to kind of

904
00:52:02,239 --> 00:52:04,160
Speaker 6: evolve in this new dynamic.

905
00:52:04,600 --> 00:52:09,000
Speaker 3: I think it needs to undertake first a study of

906
00:52:09,280 --> 00:52:14,120
Speaker 3: what is involved in sports betting and gambling. How many

907
00:52:14,120 --> 00:52:17,439
Speaker 3: players are involved, what is the reaction of fans, what's

908
00:52:17,480 --> 00:52:21,920
Speaker 3: the reaction of sponsors? If the sports betting or gambling

909
00:52:22,320 --> 00:52:25,520
Speaker 3: is not illegal in the state in which the team

910
00:52:25,600 --> 00:52:29,560
Speaker 3: is competing. If it's illegal in any manner, shape or form,

911
00:52:29,800 --> 00:52:32,680
Speaker 3: then it's sort of an easy equation to no player

912
00:52:32,680 --> 00:52:35,120
Speaker 3: on the team can engage in that type of activity.

913
00:52:35,880 --> 00:52:40,160
Speaker 3: This is a broader question which I think what you

914
00:52:40,239 --> 00:52:45,240
Speaker 3: saw with Jamison Williams is that he was he engaged

915
00:52:45,280 --> 00:52:48,200
Speaker 3: in it and they came down heavily on him because

916
00:52:48,760 --> 00:52:51,840
Speaker 3: frankly they don't. They haven't looked into this problem in decades.

917
00:52:52,520 --> 00:52:55,560
Speaker 1: Well, I guess I better several my ties with my bookies,

918
00:52:55,640 --> 00:53:01,960
Speaker 1: Rat Nose and Babyfaces. Fellas has been real to trust me.

919
00:53:02,760 --> 00:53:07,400
Speaker 1: Marty Eedle, co chair Gulston and Stores Sports Law Practice.

920
00:53:07,840 --> 00:53:11,080
Speaker 1: He'll be back here next for our expose on pickleball.

921
00:53:11,239 --> 00:53:13,920
Speaker 1: Thank you so much for joining us on the bloom

922
00:53:17,760 --> 00:53:19,319
Speaker 1: Thank you, Barty. We appreciate it.

923
00:53:19,400 --> 00:53:19,600
Speaker 3: Man.

924
00:53:20,640 --> 00:53:23,000
Speaker 1: This has been the Bloomberg Business of Sports podcast. We

925
00:53:23,040 --> 00:53:24,640
Speaker 1: explore some of the big money issues in the world

926
00:53:24,680 --> 00:53:26,239
Speaker 1: of sports at Michael Barr. You can follow me on

927
00:53:26,239 --> 00:53:26,960
Speaker 1: Twitter at Big Bar.

928
00:53:26,960 --> 00:53:29,359
Speaker 4: Sports and I'm on Twitter at Scarlet Foo.

929
00:53:29,400 --> 00:53:31,360
Speaker 6: Man you can follow me at Dee Sasaur.

930
00:53:31,560 --> 00:53:34,600
Speaker 1: This has been the Bloomberg Business of Sports show, and

931
00:53:34,600 --> 00:53:37,840
Speaker 1: we'd like to thank our guests Jason Clement, Max Adler,

932
00:53:37,920 --> 00:53:40,480
Speaker 1: and Marty Eatle for joining us on the show this week,

933
00:53:40,719 --> 00:53:43,680
Speaker 1: and thank you for listening to the show. I'm Michael

934
00:53:43,719 --> 00:53:45,880
Speaker 1: Barr on Twitter at Big Bar Sports and.

935
00:53:45,960 --> 00:53:47,759
Speaker 4: I'm on Twitter at Scarlet Foo Man.

936
00:53:47,800 --> 00:53:49,520
Speaker 6: You can follow me at Dee Sasaur.

937
00:53:49,640 --> 00:53:51,680
Speaker 1: Tune in again next week for the latest on the

938
00:53:51,719 --> 00:53:54,919
Speaker 1: stories moving big money in the world of sports. This

939
00:53:54,960 --> 00:53:58,000
Speaker 1: has been the Bloomberg Business of Sports Show from Bloomberg

940
00:53:58,120 --> 00:53:59,920
Speaker 1: Radio around the world.

941
00:54:02,360 --> 00:54:02,640
Speaker 3: Seven