1 00:00:02,120 --> 00:00:04,800 Speaker 1: Hello, I'm Scott su I'm Evan Nobi Williams, and I'm 2 00:00:04,840 --> 00:00:07,720 Speaker 1: Michael bar And this is the Bloomberg Business of Sports podcast, 3 00:00:07,760 --> 00:00:10,120 Speaker 1: where we explore the big money issues in the world 4 00:00:10,200 --> 00:00:14,200 Speaker 1: of sports. Let's start with the NFL debt limit. Guys, 5 00:00:14,640 --> 00:00:17,360 Speaker 1: here's a surprise. It's going up. They needed money for 6 00:00:17,400 --> 00:00:20,560 Speaker 1: the stadium and the NFL decided to raise its debt limit. 7 00:00:20,840 --> 00:00:22,880 Speaker 1: And this is what I say about the NFL. Anytime 8 00:00:23,200 --> 00:00:26,079 Speaker 1: somebody says during a sale process or whatever, well, what's 9 00:00:26,079 --> 00:00:29,040 Speaker 1: the rule? What's the NFL rule? I always say this, 10 00:00:29,400 --> 00:00:33,040 Speaker 1: It doesn't matter what the rule is now because if 11 00:00:33,040 --> 00:00:36,199 Speaker 1: it's an inconvenience, they can just change it, and they 12 00:00:36,240 --> 00:00:38,080 Speaker 1: do it all the time. Not only is it going up, 13 00:00:38,080 --> 00:00:40,840 Speaker 1: it's going up a lot. The previous record for for 14 00:00:40,920 --> 00:00:42,760 Speaker 1: a team that was able to borrow from the NFL 15 00:00:42,800 --> 00:00:46,279 Speaker 1: to build a stadium million for the Falcons about five 16 00:00:46,360 --> 00:00:48,800 Speaker 1: years ago. This new l a stadium that the Rams 17 00:00:48,840 --> 00:00:51,479 Speaker 1: will own the Chargers will play in two point to 18 00:00:51,720 --> 00:00:54,760 Speaker 1: five billion US two teams. So sure, but it's way 19 00:00:54,800 --> 00:00:58,000 Speaker 1: more than double what that was. Even I can do that, man. Yes, 20 00:00:58,080 --> 00:00:59,920 Speaker 1: this is a number that we knew was going to 21 00:01:00,000 --> 00:01:03,680 Speaker 1: Togo higher obviously, Um, but it does seem surprising to 22 00:01:03,680 --> 00:01:05,960 Speaker 1: me that it went as high as it did. Also 23 00:01:06,040 --> 00:01:09,040 Speaker 1: surprising that there was not more pushback from owners, and 24 00:01:09,080 --> 00:01:12,399 Speaker 1: the Sports Business Journal says the Cincinnati Bengals were the 25 00:01:12,400 --> 00:01:18,120 Speaker 1: only team that really expressed some concerns. That's Mike Brown's ownership. Um. 26 00:01:18,160 --> 00:01:19,880 Speaker 1: But yeah, I'm shocked at how big the number is. 27 00:01:20,040 --> 00:01:23,559 Speaker 1: Remember but four or six years ago when the debt 28 00:01:23,560 --> 00:01:27,240 Speaker 1: limit was just two hundred million dollars, just two hundred million. 29 00:01:27,400 --> 00:01:29,480 Speaker 1: Look at you, Michael Bargo, back in history for the 30 00:01:29,560 --> 00:01:37,880 Speaker 1: NFL debt limits. This is so your sucks. This is 31 00:01:37,920 --> 00:01:42,640 Speaker 1: a special case. This isn't Cincinnati, this is in Cleveland. 32 00:01:42,800 --> 00:01:45,800 Speaker 1: This isn't let's oh, dare I say, it's not even Dallas. 33 00:01:46,400 --> 00:01:50,240 Speaker 1: This is l A. And this stadium is more than 34 00:01:50,280 --> 00:01:54,520 Speaker 1: a stadium. It's an entire entertainment complex. The NFL will 35 00:01:54,600 --> 00:01:57,000 Speaker 1: kind of have to have its West Coast hub here, 36 00:01:57,440 --> 00:02:00,560 Speaker 1: just whatever l A Live did for down town l A. 37 00:02:01,120 --> 00:02:04,960 Speaker 1: The hope that this new complex will do for the 38 00:02:05,040 --> 00:02:07,960 Speaker 1: area around Englewood. It's also expensive to build there, as 39 00:02:08,000 --> 00:02:10,399 Speaker 1: we saw with Cal Athletics, who had to re retrofit 40 00:02:10,440 --> 00:02:13,000 Speaker 1: their stadium because they're near a fault line l A, 41 00:02:13,000 --> 00:02:16,080 Speaker 1: also near the San Andreas fault. The price of building 42 00:02:16,080 --> 00:02:18,320 Speaker 1: this stadium, it seems to be going up every month 43 00:02:18,720 --> 00:02:20,480 Speaker 1: at this point, and I'm sure that the rays in 44 00:02:20,520 --> 00:02:22,240 Speaker 1: the in the debt limit from the NFL is also 45 00:02:22,280 --> 00:02:24,120 Speaker 1: a product of the fact that this project is getting 46 00:02:24,120 --> 00:02:26,200 Speaker 1: more and more expensive. You say San Andrea's fault level 47 00:02:26,240 --> 00:02:27,639 Speaker 1: comes to mind. I don't know why. It's the LaBrea 48 00:02:27,720 --> 00:02:30,320 Speaker 1: tarpits that's there too. If you know they have the 49 00:02:30,320 --> 00:02:33,920 Speaker 1: street LaBrea, that's I I know one that someone says one, 50 00:02:33,960 --> 00:02:35,600 Speaker 1: that's what comes to mind. It's got nothing to do 51 00:02:35,639 --> 00:02:37,120 Speaker 1: with the debt limit. But I just wanted to let 52 00:02:37,160 --> 00:02:39,640 Speaker 1: you guys know what movie was that where the LaBrea 53 00:02:39,720 --> 00:02:43,799 Speaker 1: tarm pits where it was t of the movie? Uh 54 00:02:43,840 --> 00:02:46,040 Speaker 1: this audience, this is when evanden Scott look at each 55 00:02:46,040 --> 00:02:51,320 Speaker 1: other and have no idea what forest never mind? Anyway, 56 00:02:51,360 --> 00:02:55,079 Speaker 1: I knew it was probably a silent film. Moving right 57 00:02:55,120 --> 00:02:59,200 Speaker 1: along u NBA making news obviously outside of the playoffs, 58 00:02:59,200 --> 00:03:03,320 Speaker 1: but also China isn't here. Yeah, well, the NBA has 59 00:03:03,360 --> 00:03:07,040 Speaker 1: a new leader for its Chinese arm for NBA China, 60 00:03:07,120 --> 00:03:11,080 Speaker 1: and interestingly here it comes from sort of a media 61 00:03:11,120 --> 00:03:16,720 Speaker 1: and entertainment background. This is not league operations comes from scripts. 62 00:03:16,760 --> 00:03:18,760 Speaker 1: This is all about entertainment and bar We've said it 63 00:03:18,800 --> 00:03:22,160 Speaker 1: on this show a million times. Where the NBA long 64 00:03:22,320 --> 00:03:25,840 Speaker 1: term may have the advantage, may have the advantage in 65 00:03:25,960 --> 00:03:28,919 Speaker 1: terms of generating revenue surpassing the NFL one day is 66 00:03:28,960 --> 00:03:33,160 Speaker 1: its global scale and the future is that Thomas Friedman 67 00:03:33,240 --> 00:03:36,440 Speaker 1: flat world where you're sending out and Adam Silver has 68 00:03:36,480 --> 00:03:39,480 Speaker 1: hinted at this, let's sell a final three minutes of games, 69 00:03:39,480 --> 00:03:42,720 Speaker 1: five minutes of games club. How many people around the 70 00:03:42,760 --> 00:03:47,240 Speaker 1: world will pay for NBA content, whether it be complete games, 71 00:03:47,240 --> 00:03:50,280 Speaker 1: shoulder programming, little pieces of games, and now we've got 72 00:03:50,280 --> 00:03:53,280 Speaker 1: perhaps sports betting. This is a real opportunity on a 73 00:03:53,320 --> 00:03:55,840 Speaker 1: global scale. It shows where the thinking is for the 74 00:03:55,960 --> 00:03:57,920 Speaker 1: NBA and Asia. And this is a process that's been 75 00:03:57,920 --> 00:04:00,360 Speaker 1: going on for for decades. I mean back in d eight, 76 00:04:00,400 --> 00:04:03,000 Speaker 1: the NBA cut its first deal with CCTV and China 77 00:04:03,160 --> 00:04:06,200 Speaker 1: revenue sharing too broadcast games there. They were the first 78 00:04:06,240 --> 00:04:08,680 Speaker 1: major US league to have an office there, the first 79 00:04:08,680 --> 00:04:11,400 Speaker 1: major US league to play games there. Uh. They are 80 00:04:11,440 --> 00:04:15,240 Speaker 1: definitely the most popular team sport, definitely the most popular 81 00:04:15,280 --> 00:04:18,960 Speaker 1: American league in China and as you know. As you know, 82 00:04:19,040 --> 00:04:21,040 Speaker 1: it's it's a huge country, a lot of people. There 83 00:04:21,120 --> 00:04:23,400 Speaker 1: is a huge growth opportunity there, and the NBA is 84 00:04:23,480 --> 00:04:25,640 Speaker 1: kind of finally trying to seize on that. I guess 85 00:04:25,640 --> 00:04:28,680 Speaker 1: the question now is what took us so long to 86 00:04:28,720 --> 00:04:31,280 Speaker 1: get to this point. Well, as David Stern has always said, 87 00:04:31,279 --> 00:04:32,920 Speaker 1: you don't just show up in China in do business. 88 00:04:33,320 --> 00:04:35,919 Speaker 1: You have got to ingratiate yourself. You've got to prove 89 00:04:36,040 --> 00:04:38,400 Speaker 1: that you're there for the long term, you're there for 90 00:04:38,440 --> 00:04:41,960 Speaker 1: the investment. You don't just show up. There's a lot 91 00:04:42,000 --> 00:04:44,440 Speaker 1: of know how, and that, by the way, is trial 92 00:04:44,480 --> 00:04:46,680 Speaker 1: and error. That happens too, is a lot of hoops. 93 00:04:46,720 --> 00:04:48,880 Speaker 1: We made a mistake that didn't work. Let's pivot here. 94 00:04:49,480 --> 00:04:52,360 Speaker 1: That has been the NBA path in China, and it 95 00:04:52,360 --> 00:04:55,400 Speaker 1: didn't hurt that all of a sudden there was this guy, 96 00:04:55,960 --> 00:04:58,640 Speaker 1: yell Ming, who came and played in the n b 97 00:04:58,800 --> 00:05:02,280 Speaker 1: A and became a focal point and now is actually 98 00:05:02,320 --> 00:05:06,640 Speaker 1: working on behalf of the Chinese Basketball Association in conjunction 99 00:05:06,680 --> 00:05:10,200 Speaker 1: with the NBA to get things done. That certainly helps 100 00:05:10,200 --> 00:05:11,960 Speaker 1: them out. Yeah, it seems as though before you could 101 00:05:12,000 --> 00:05:15,640 Speaker 1: commercialize your opportunity, you need to make everything available, you know, 102 00:05:15,680 --> 00:05:17,719 Speaker 1: and they did that through media deals. They have a 103 00:05:17,760 --> 00:05:19,440 Speaker 1: major deal with ten Cent that they're right in the 104 00:05:19,480 --> 00:05:24,080 Speaker 1: middle of. Every NBA team has its own Chinese language website, 105 00:05:24,080 --> 00:05:26,240 Speaker 1: It has its own Weybo account with the social media 106 00:05:26,320 --> 00:05:30,080 Speaker 1: over there. The NBA's Webo account has thirty five million followers, 107 00:05:30,360 --> 00:05:33,919 Speaker 1: which is almost ten million more than the Twitter account has. 108 00:05:34,120 --> 00:05:36,560 Speaker 1: And Twitter is a global following. Webo is China only. 109 00:05:36,800 --> 00:05:40,000 Speaker 1: I mean, there is a tremendous there's a tremendous amount 110 00:05:40,000 --> 00:05:42,280 Speaker 1: of popularity for the NBA in China. But they've done 111 00:05:42,360 --> 00:05:45,560 Speaker 1: things to make the league a lot more accessible for 112 00:05:45,680 --> 00:05:48,640 Speaker 1: Mandarin speakers and Chinese speakers on the ground of China. 113 00:05:48,720 --> 00:05:50,839 Speaker 1: I hate to bring in old man bar news, but 114 00:05:52,279 --> 00:05:55,840 Speaker 1: we have let's call it a trade dust up at 115 00:05:55,839 --> 00:05:58,320 Speaker 1: the moment with China. Is this going to impact all 116 00:05:58,320 --> 00:06:00,720 Speaker 1: of this? This is long term play and you wouldn't 117 00:06:00,720 --> 00:06:03,080 Speaker 1: think this. I mean, they're not exporting importing. This is 118 00:06:03,120 --> 00:06:06,960 Speaker 1: not about that, um. But you do see also the 119 00:06:07,040 --> 00:06:09,719 Speaker 1: NBA getting free publicity. This is not an investment on 120 00:06:09,760 --> 00:06:13,960 Speaker 1: their behalf. When let's say Kobe Bryant goes and makes 121 00:06:14,000 --> 00:06:17,520 Speaker 1: his annual trip or Steph Curry or James Harden. These 122 00:06:17,560 --> 00:06:20,279 Speaker 1: are the sneaker companies do the work for them. All 123 00:06:20,320 --> 00:06:23,200 Speaker 1: of the top names make trips to Asia every year 124 00:06:23,680 --> 00:06:25,599 Speaker 1: and you'd think, I'm trying to like, who would be 125 00:06:25,640 --> 00:06:29,680 Speaker 1: the biggest pop star global you could possibly put together 126 00:06:29,680 --> 00:06:32,120 Speaker 1: and have them show up. That's what the audience is like, 127 00:06:32,800 --> 00:06:36,720 Speaker 1: absolute rock stars when these guys show up. And again 128 00:06:36,839 --> 00:06:40,880 Speaker 1: it's about showing the consumers, showing the audience that I'm 129 00:06:40,960 --> 00:06:44,760 Speaker 1: not just selling I'm here for you and that matters. 130 00:06:46,279 --> 00:06:49,200 Speaker 1: Let's talk about soccer, and let's talk about La Liga. 131 00:06:49,640 --> 00:06:54,560 Speaker 1: Oh my three point six billion eurals for last season. 132 00:06:54,920 --> 00:06:57,920 Speaker 1: That's a record revenue for the Spanish football league. Now 133 00:06:57,960 --> 00:07:00,279 Speaker 1: that's the good news. Now the bad news is that 134 00:07:00,279 --> 00:07:05,480 Speaker 1: that's still a long way short from England's Premier League. Well, yeah, 135 00:07:05,520 --> 00:07:08,760 Speaker 1: good news, good news, better news, news to come. Where 136 00:07:08,760 --> 00:07:11,080 Speaker 1: where are we standing here? Edvan ep L also with 137 00:07:11,160 --> 00:07:14,120 Speaker 1: record revenue, what about seven billion dollars six point three 138 00:07:14,200 --> 00:07:17,640 Speaker 1: six point and it's all being pushed again by media. 139 00:07:18,200 --> 00:07:20,240 Speaker 1: But in the interesting part, but why don't you do it? 140 00:07:20,320 --> 00:07:24,480 Speaker 1: The interesting part is sort of the breakout domestic revenue 141 00:07:25,080 --> 00:07:27,720 Speaker 1: versus international revenue, in which way they're going Yeah, we've 142 00:07:27,760 --> 00:07:30,080 Speaker 1: talked about this a few weeks ago. The domestic rights 143 00:07:30,120 --> 00:07:32,840 Speaker 1: for the EPL went down, and we had that conversation 144 00:07:32,840 --> 00:07:34,880 Speaker 1: about whether this was kind of a harbinger of things 145 00:07:34,960 --> 00:07:37,760 Speaker 1: to come in the US, whether this this two decade 146 00:07:37,840 --> 00:07:41,040 Speaker 1: run of increasing money coming from media rights steals might 147 00:07:41,040 --> 00:07:43,600 Speaker 1: be UH might be coming to an end. But as 148 00:07:43,680 --> 00:07:45,920 Speaker 1: as domestic revenue looks to be going down at least 149 00:07:45,920 --> 00:07:48,320 Speaker 1: in the near term for for the English Premier League, 150 00:07:48,520 --> 00:07:51,440 Speaker 1: the international media rights are going up, you know, so 151 00:07:51,480 --> 00:07:54,800 Speaker 1: they're offsetting the loss of domestic money by just the 152 00:07:54,920 --> 00:07:58,200 Speaker 1: increasing popularity of the league around the world. UH six 153 00:07:58,200 --> 00:08:01,040 Speaker 1: point three billion record revenue for a year for for 154 00:08:01,080 --> 00:08:02,679 Speaker 1: the e p L, and that's for the sixteen seventeen 155 00:08:02,720 --> 00:08:06,720 Speaker 1: season pales in comparison to most of the U S 156 00:08:06,800 --> 00:08:08,640 Speaker 1: leagues Here, you know, we have the NFL at fifteen, 157 00:08:08,960 --> 00:08:11,680 Speaker 1: Baseball at ten, the NBA a little bit a little 158 00:08:11,680 --> 00:08:14,480 Speaker 1: bit behind that. The ep L, despite the fact that 159 00:08:14,520 --> 00:08:16,440 Speaker 1: it is the sport of the world, and despite the 160 00:08:16,480 --> 00:08:20,080 Speaker 1: fact that it has fans everywhere, UH doesn't even come 161 00:08:20,120 --> 00:08:22,400 Speaker 1: close to what to what leagues like the m MLB 162 00:08:22,640 --> 00:08:24,960 Speaker 1: or or NBA are putting in. But you've seen what 163 00:08:25,120 --> 00:08:27,240 Speaker 1: NBC was willing to invest in the e p L, 164 00:08:27,280 --> 00:08:29,600 Speaker 1: and that has gone well for them. So you wonder 165 00:08:29,680 --> 00:08:33,560 Speaker 1: moving forward in this digital landscape of you can put 166 00:08:33,640 --> 00:08:36,640 Speaker 1: some games on an Amazon and some games on a 167 00:08:36,720 --> 00:08:39,280 Speaker 1: linear and the partnerships that come from it, and then 168 00:08:39,320 --> 00:08:42,720 Speaker 1: that global reach if you're looking at saturation in your 169 00:08:42,760 --> 00:08:47,319 Speaker 1: domestic league or your domestic TV contract, and all the 170 00:08:47,400 --> 00:08:48,760 Speaker 1: leagues will look at what else we do? We do 171 00:08:48,800 --> 00:08:51,920 Speaker 1: we do at home. But this is not a you know, 172 00:08:51,960 --> 00:08:55,120 Speaker 1: a no kidding statement. There's more out there. You have 173 00:08:55,240 --> 00:08:57,840 Speaker 1: to see where's the potential growth. You've got to reach 174 00:08:57,880 --> 00:09:02,000 Speaker 1: those customers, and that's whe opportunity. Lot. One other interesting nugget, 175 00:09:02,000 --> 00:09:03,800 Speaker 1: A lot of these numbers are coming from a Deloitte 176 00:09:03,800 --> 00:09:05,360 Speaker 1: study that was put out a couple of days ago. 177 00:09:06,000 --> 00:09:08,319 Speaker 1: Every team in the EPL, so all twenty teams run 178 00:09:08,360 --> 00:09:12,000 Speaker 1: an operating profit. That surprised me. So despite the fact 179 00:09:12,000 --> 00:09:14,360 Speaker 1: that the leagues like Major League Baseball in the NBA 180 00:09:14,960 --> 00:09:17,679 Speaker 1: bringing so much overall revenue, so much more than the 181 00:09:17,720 --> 00:09:20,439 Speaker 1: ep L, there are tons of teams in baseball and 182 00:09:20,600 --> 00:09:22,920 Speaker 1: in basketball that do not turn a profit every year. 183 00:09:23,400 --> 00:09:25,400 Speaker 1: EPL at least has managed to figure that out with 184 00:09:25,480 --> 00:09:27,640 Speaker 1: a much smaller overall revit. But now they're getting ready 185 00:09:27,640 --> 00:09:29,439 Speaker 1: to have the fight that they always have over here 186 00:09:29,600 --> 00:09:32,120 Speaker 1: or seemingly have had over here about revenue share. The 187 00:09:32,200 --> 00:09:34,480 Speaker 1: big clubs in the e p L don't want to 188 00:09:34,640 --> 00:09:37,719 Speaker 1: give up more, and the other clubs are saying, we've 189 00:09:37,760 --> 00:09:40,480 Speaker 1: got to come up with some sort of formula where 190 00:09:40,520 --> 00:09:42,520 Speaker 1: we get a bigger percentage of the post. So how 191 00:09:42,559 --> 00:09:44,800 Speaker 1: do you see that playing out? Because obviously your teams 192 00:09:44,880 --> 00:09:47,719 Speaker 1: like Man City and Man United and Arsenal bring in 193 00:09:47,840 --> 00:09:50,360 Speaker 1: most of the money. They have a tremendous amount of influence. 194 00:09:50,360 --> 00:09:52,240 Speaker 1: They're the ones that are playing in the Champions League 195 00:09:52,520 --> 00:09:54,600 Speaker 1: every year, which is a huge money maker as well, 196 00:09:55,280 --> 00:09:58,360 Speaker 1: versus a much bigger number of smaller clubs that don't 197 00:09:58,400 --> 00:10:00,520 Speaker 1: bring in that money, maybe don't have as much influence, 198 00:10:00,600 --> 00:10:04,160 Speaker 1: but are on much less solid economic If they're smart, 199 00:10:04,679 --> 00:10:08,040 Speaker 1: they will take a peek at the old Wellington Married 200 00:10:08,120 --> 00:10:11,439 Speaker 1: days of the NFL. You've got to place somebody. You 201 00:10:11,559 --> 00:10:13,679 Speaker 1: can't play each other every week. If you're a toxic 202 00:10:14,000 --> 00:10:16,040 Speaker 1: top six club, you're not breaking away to form your 203 00:10:16,080 --> 00:10:19,319 Speaker 1: own thing. You've got to play the West Brahms of 204 00:10:19,360 --> 00:10:23,200 Speaker 1: the world. So figure out a way where the national 205 00:10:23,360 --> 00:10:29,719 Speaker 1: revenues and the international revenues are shared evenly. And then 206 00:10:29,880 --> 00:10:32,920 Speaker 1: if I can't allah Jerry Jones, if I can figure 207 00:10:32,920 --> 00:10:36,400 Speaker 1: out a way to build a better mouse trap and 208 00:10:36,520 --> 00:10:40,240 Speaker 1: collect more money from my own stadium, from my own apparel, 209 00:10:40,559 --> 00:10:45,200 Speaker 1: domestics something like that, then perhaps you keep all that revenue. 210 00:10:45,440 --> 00:10:49,280 Speaker 1: And there is a difference in being a Man United 211 00:10:49,440 --> 00:10:52,200 Speaker 1: and a Chelsea and a West brom in that regard. 212 00:10:52,640 --> 00:10:55,319 Speaker 1: Maybe that can satisfy all parties. Keep in mind that 213 00:10:55,360 --> 00:10:57,800 Speaker 1: a lot of these smaller clubs are are increasingly being 214 00:10:57,840 --> 00:11:01,440 Speaker 1: owned by American businessmen who have experiences in the US 215 00:11:01,679 --> 00:11:05,400 Speaker 1: major sports model. You know the Crystal Palace, Swansea, Fulham, 216 00:11:05,400 --> 00:11:07,240 Speaker 1: which will be back up it looks like next year. 217 00:11:07,640 --> 00:11:11,000 Speaker 1: A lot of these clubs have experienced owners that understand 218 00:11:11,120 --> 00:11:13,240 Speaker 1: kind of the revenue sharing models that we have in 219 00:11:13,240 --> 00:11:16,280 Speaker 1: the US. I'm gonna bring something way in the future 220 00:11:16,480 --> 00:11:18,360 Speaker 1: one day when there's a chicken in every pot and 221 00:11:18,440 --> 00:11:21,679 Speaker 1: a robot in every house. Will we ever see the 222 00:11:21,800 --> 00:11:25,520 Speaker 1: E p L and La Liga and other soccer leagues 223 00:11:26,000 --> 00:11:29,560 Speaker 1: combined together and merge Alexa put on the Super League? 224 00:11:29,840 --> 00:11:34,760 Speaker 1: Is that what you're saying, boy, I'd be surprised if 225 00:11:34,800 --> 00:11:37,040 Speaker 1: they ever came into one. I mean, you've got sort 226 00:11:37,080 --> 00:11:39,880 Speaker 1: of the tournaments that take the best clubs from around 227 00:11:39,880 --> 00:11:42,240 Speaker 1: the world, the Champions of Europe and Champions League. You've 228 00:11:42,240 --> 00:11:43,559 Speaker 1: of course got the World Cup for the for the 229 00:11:43,679 --> 00:11:47,440 Speaker 1: national teams. Uh, you'd you'd be hard pressed to see 230 00:11:48,200 --> 00:11:51,880 Speaker 1: an e p L fan. What makes it special is 231 00:11:52,000 --> 00:11:54,480 Speaker 1: that these are community based teams and they root for 232 00:11:54,480 --> 00:11:58,679 Speaker 1: their community team. If everything was just assimilated and you 233 00:11:58,920 --> 00:12:01,880 Speaker 1: took away those those districts and towns and borders, I 234 00:12:01,920 --> 00:12:04,240 Speaker 1: don't know if it works in that. Yeah, I think 235 00:12:04,240 --> 00:12:06,319 Speaker 1: Scott's right. A. You kind of already have it in 236 00:12:06,360 --> 00:12:07,760 Speaker 1: a lot of ways. You know, the i c C 237 00:12:08,000 --> 00:12:11,319 Speaker 1: will put you know, Man City against Real Madrid next 238 00:12:11,440 --> 00:12:13,120 Speaker 1: year and the next summer here in the U S, 239 00:12:13,160 --> 00:12:14,760 Speaker 1: so there there are times in which they play each 240 00:12:14,760 --> 00:12:17,040 Speaker 1: other outside of just the Premier League or outside of 241 00:12:17,120 --> 00:12:19,840 Speaker 1: just the Champions League. More importantly, I mean the fact 242 00:12:19,880 --> 00:12:21,880 Speaker 1: that not everyone's on the same currency, the fact that 243 00:12:21,960 --> 00:12:24,480 Speaker 1: you would kind of all travel would be subject to 244 00:12:24,559 --> 00:12:27,520 Speaker 1: huge currency swings depending on what the pound is doing 245 00:12:27,559 --> 00:12:30,280 Speaker 1: relative to the Euro, etcetera. I just don't see it. 246 00:12:30,360 --> 00:12:31,679 Speaker 1: I don't see it happening at any point in the 247 00:12:31,720 --> 00:12:33,559 Speaker 1: near future. I have to go off the board for 248 00:12:33,600 --> 00:12:36,160 Speaker 1: one second, just one quick topic to talk about. I 249 00:12:36,240 --> 00:12:37,839 Speaker 1: love this when Bar goes off the board, you have 250 00:12:37,960 --> 00:12:42,240 Speaker 1: no idea or Detroit? What about the what about John 251 00:12:42,280 --> 00:12:47,640 Speaker 1: Sally hit hit my suit? Nascar? Man, I've got to 252 00:12:47,679 --> 00:12:51,040 Speaker 1: talk about that because they just ran at Richmond, uh 253 00:12:51,320 --> 00:12:55,720 Speaker 1: Saturday night. But my goodness, the crowds are way down. 254 00:12:55,800 --> 00:12:58,280 Speaker 1: I mean, I mean this is even I'm seeing it 255 00:12:58,360 --> 00:13:01,720 Speaker 1: even worse than in previous years. Why why do they 256 00:13:01,760 --> 00:13:06,800 Speaker 1: say ran at Richmond when they're driving? That's my NASCAR question. 257 00:13:06,960 --> 00:13:12,360 Speaker 1: That not even this is where we just let the silence, right, Yeah, 258 00:13:12,400 --> 00:13:14,079 Speaker 1: this is I mean, this is nothing new though the 259 00:13:14,120 --> 00:13:16,280 Speaker 1: past couple of years we've sort of seen what's going 260 00:13:16,320 --> 00:13:19,240 Speaker 1: on in the attendance that tracks. We had Brent Doer 261 00:13:19,320 --> 00:13:21,160 Speaker 1: in here and we remember when we asked him about, 262 00:13:21,160 --> 00:13:24,520 Speaker 1: all right, is this myth or not? And he still 263 00:13:24,600 --> 00:13:27,760 Speaker 1: talked about sort of the the audience of the social 264 00:13:28,280 --> 00:13:30,680 Speaker 1: and the digital and maybe they're not all being reached 265 00:13:30,720 --> 00:13:34,400 Speaker 1: and how they enhance enhance the audience. It's not just 266 00:13:34,520 --> 00:13:38,240 Speaker 1: a number of people watching. Um yeah, I mean NASCAR's 267 00:13:38,240 --> 00:13:41,800 Speaker 1: got issues that that that's the bottom line. NASCAR has issues. 268 00:13:42,240 --> 00:13:45,679 Speaker 1: They've got to find a way to get those eyeballs 269 00:13:45,760 --> 00:13:48,000 Speaker 1: back up. And I'm not going to pretend I know 270 00:13:48,160 --> 00:13:50,839 Speaker 1: the answer how to do it well to give you 271 00:13:50,840 --> 00:13:54,480 Speaker 1: an idea. And Richmond had a hundred ten thousand seats 272 00:13:54,520 --> 00:13:58,319 Speaker 1: at one point. They narrowed it down to sixty and 273 00:13:58,440 --> 00:14:02,079 Speaker 1: they still had a problem filling those grandstands Saturday night. 274 00:14:02,400 --> 00:14:04,120 Speaker 1: And you know it hurts me because I'm a huge 275 00:14:04,240 --> 00:14:07,559 Speaker 1: NASCAR fan. I don't know what the answer is to 276 00:14:07,600 --> 00:14:09,839 Speaker 1: get people back in the stands. In twenty years. I 277 00:14:09,920 --> 00:14:11,920 Speaker 1: fear that all these stadiums are just gonna be one 278 00:14:11,960 --> 00:14:17,480 Speaker 1: off college football stadiums. People have a Toby Keith concert 279 00:14:17,520 --> 00:14:20,840 Speaker 1: the night before and that's but before we do wrap 280 00:14:21,960 --> 00:14:25,000 Speaker 1: who we have Mighty true x Joey Logano. Who won 281 00:14:25,120 --> 00:14:31,720 Speaker 1: this thing? I don't know who? No, Kyle Busch I did. 282 00:14:31,880 --> 00:14:33,560 Speaker 1: We could have guessed him. Eventually, I would have gotten. 283 00:14:33,560 --> 00:14:36,120 Speaker 1: I would have gotten there have gotten. Medina doesn't even 284 00:14:36,160 --> 00:14:40,560 Speaker 1: know who that is. At least. This is the Bloomberg 285 00:14:40,600 --> 00:14:43,840 Speaker 1: Business of Sports podcast. I'm Michael Barr, along with Scott 286 00:14:43,880 --> 00:14:47,480 Speaker 1: Sashnik and Evan Nobi Williams. We're here each and every Monday, 287 00:14:47,520 --> 00:14:50,120 Speaker 1: and Friday, exploring the big money issues of world and 288 00:14:50,160 --> 00:14:51,880 Speaker 1: sports and the stuff Bar wants to talk about. And 289 00:14:51,960 --> 00:14:53,440 Speaker 1: join us again at the end of the week when 290 00:14:53,480 --> 00:14:56,280 Speaker 1: we speak with New York City Football Club President John 291 00:14:56,320 --> 00:14:59,600 Speaker 1: patrick Off. You're listening to Bloomberg Business of Sports from 292 00:14:59,640 --> 00:15:02,720 Speaker 1: bloom Berg Radio around the world and online as an 293 00:15:02,720 --> 00:15:04,240 Speaker 1: Apple Podcast on iTunes.