1 00:00:00,720 --> 00:00:04,000 Speaker 1: Hello. I'm Michael Barr, and this is the Bloomberg Business 2 00:00:04,000 --> 00:00:06,440 Speaker 1: of Sports podcast, where we explore some of the big 3 00:00:06,480 --> 00:00:09,039 Speaker 1: old money issues in the world of sports. 4 00:00:09,600 --> 00:00:11,640 Speaker 2: I'm Scarlett Foo, I'm Damien Sass. 5 00:00:11,960 --> 00:00:15,760 Speaker 1: We have to talk about a massive money move in 6 00:00:15,840 --> 00:00:17,880 Speaker 1: the NFL. And by the way, I know up people 7 00:00:17,920 --> 00:00:20,919 Speaker 1: out there English majors. I use the word massive because 8 00:00:21,160 --> 00:00:24,119 Speaker 1: you know you talk about mass but this is just 9 00:00:24,239 --> 00:00:27,680 Speaker 1: some big dog own money that's moving in the NFL. 10 00:00:27,800 --> 00:00:29,680 Speaker 3: Now, this is fair, this is massive, right, We're talking 11 00:00:29,720 --> 00:00:33,000 Speaker 3: about the Washington Commanders. They might finally have found a buyer, 12 00:00:33,440 --> 00:00:35,640 Speaker 3: not that there is difficulty in finding one, but a 13 00:00:35,640 --> 00:00:38,280 Speaker 3: group that's led by Josh Harris, the billionaire, the private 14 00:00:38,280 --> 00:00:42,400 Speaker 3: equity Titan. They're ironing out a deal worth six billion 15 00:00:42,440 --> 00:00:45,000 Speaker 3: dollars to purchase the NFL franchise from Dan Snyder. 16 00:00:45,240 --> 00:00:45,760 Speaker 2: Scarlet. 17 00:00:45,800 --> 00:00:48,720 Speaker 4: This deal will be the largest amount ever paid for 18 00:00:48,760 --> 00:00:51,600 Speaker 4: a pro sports team in the United States of America. 19 00:00:51,720 --> 00:00:54,760 Speaker 1: Oh lordie, let me get my fan here here to 20 00:00:54,880 --> 00:00:57,960 Speaker 1: take us through. What we need to know is Bloomberg 21 00:00:58,000 --> 00:01:01,440 Speaker 1: Wealth editor Tom Maloney. Time. I am still trying to 22 00:01:01,520 --> 00:01:04,000 Speaker 1: understand this. First of all, Tom, thank you for joining 23 00:01:04,080 --> 00:01:07,160 Speaker 1: us on the Bloomberg Business of Sports. What does all 24 00:01:07,200 --> 00:01:07,720 Speaker 1: of this mean? 25 00:01:08,360 --> 00:01:11,360 Speaker 5: Well, it's look, Harris has been building a sports empire 26 00:01:11,400 --> 00:01:13,360 Speaker 5: for some time, even while he was out of Plumblent. 27 00:01:13,720 --> 00:01:16,479 Speaker 5: So he's a co founder of a polo, the private 28 00:01:16,480 --> 00:01:19,840 Speaker 5: equity Giant, but he left there in twenty twenty one, 29 00:01:20,040 --> 00:01:22,640 Speaker 5: as you said, after Mark Rowan was picked to be 30 00:01:22,680 --> 00:01:26,240 Speaker 5: the CEO succeedingly on black Harris has been building a 31 00:01:26,240 --> 00:01:30,520 Speaker 5: sports empire for over a decade. He bought the Philadelphia 32 00:01:30,560 --> 00:01:34,000 Speaker 5: seventy six's and then he later bought the New Jersey Devil. 33 00:01:34,080 --> 00:01:38,600 Speaker 5: So he's got an NBA team, he's got a NHL team, 34 00:01:38,600 --> 00:01:41,240 Speaker 5: and he looks set to be adding an NFL team 35 00:01:41,280 --> 00:01:42,839 Speaker 5: now to his portfolio. 36 00:01:44,200 --> 00:01:47,280 Speaker 3: So Tom, help me understand something. Because Josh Harris was 37 00:01:47,319 --> 00:01:50,920 Speaker 3: at Apollo until about two years ago, and he has 38 00:01:51,000 --> 00:01:53,400 Speaker 3: this firm called Harris Blitzer Sports and Entertainment that he 39 00:01:53,480 --> 00:01:57,440 Speaker 3: runs with another private equity guy, David Blitzer of Blackstone, 40 00:01:57,640 --> 00:01:59,280 Speaker 3: and they own a lot of the sports teams. But 41 00:01:59,480 --> 00:02:03,320 Speaker 3: his intros in the Commanders would be on from his 42 00:02:03,360 --> 00:02:04,080 Speaker 3: personal funds. 43 00:02:04,080 --> 00:02:04,560 Speaker 2: Is that right? 44 00:02:05,720 --> 00:02:05,960 Speaker 4: Yeah? 45 00:02:06,080 --> 00:02:08,560 Speaker 5: So the NFL has pretty strict rules on who can 46 00:02:08,600 --> 00:02:11,920 Speaker 5: buy in an NFL team. It doesn't allow corporations, it 47 00:02:11,919 --> 00:02:15,639 Speaker 5: doesn't allow private equity. So this isn't going to be 48 00:02:15,680 --> 00:02:18,920 Speaker 5: a Harris Blitzer purchase. This is something Josh Harris is 49 00:02:19,320 --> 00:02:23,880 Speaker 5: leading a group. That group includes at least two other individuals. 50 00:02:23,960 --> 00:02:28,119 Speaker 5: We know about. Mitch Ralis, who's a pretty well known 51 00:02:28,160 --> 00:02:32,520 Speaker 5: businessman in the Washington, DC area. He owns a He 52 00:02:32,560 --> 00:02:35,359 Speaker 5: founded a company along with his brother called Danaher Corporation, 53 00:02:35,440 --> 00:02:39,280 Speaker 5: which is sort of an industrial conglomerate, and he has 54 00:02:39,320 --> 00:02:42,200 Speaker 5: a few other businesses as well. The other person who's 55 00:02:42,200 --> 00:02:47,320 Speaker 5: involved is Magic Johnson, the NBA legend. There's probably other 56 00:02:47,360 --> 00:02:49,040 Speaker 5: people who are part of the group as well, but 57 00:02:49,120 --> 00:02:51,120 Speaker 5: those are the only two others that we know about. 58 00:02:51,600 --> 00:02:53,600 Speaker 5: So Josh Harris is going to be doing this with 59 00:02:53,639 --> 00:02:59,040 Speaker 5: his own funds. They can borrow some money. Harris, as 60 00:02:59,080 --> 00:03:02,200 Speaker 5: the leader owner, has to put down to the equity. 61 00:03:02,600 --> 00:03:04,560 Speaker 5: So it's a pretty substantial amount. You're talking about a 62 00:03:04,560 --> 00:03:05,760 Speaker 5: six billion dollars deal. 63 00:03:06,160 --> 00:03:08,639 Speaker 4: And so if I'm hearing you correctly, Magic Johnson, who 64 00:03:08,840 --> 00:03:11,360 Speaker 4: I think reports have him as a four percent possible 65 00:03:11,400 --> 00:03:14,560 Speaker 4: equity owner at a six billion dollar valuation. Let me 66 00:03:14,600 --> 00:03:17,080 Speaker 4: do my math, do doo. That's two hundred and forty 67 00:03:17,120 --> 00:03:19,760 Speaker 4: million that Magic has to put up. Nineteen eighty nine, 68 00:03:19,760 --> 00:03:22,880 Speaker 4: Scarlet Jerry Jones bought one hundred percent of the Dallas 69 00:03:22,880 --> 00:03:25,760 Speaker 4: Cowboys for just one hundred and fifty million dollars. 70 00:03:25,840 --> 00:03:27,720 Speaker 2: Just to show you about what's going on here. 71 00:03:27,760 --> 00:03:30,520 Speaker 4: But it's a good comparing. Thrac Tom talk to us 72 00:03:30,560 --> 00:03:32,919 Speaker 4: about some of these competing bids. You know, we've heard 73 00:03:32,919 --> 00:03:35,960 Speaker 4: whispers about some others that are out there. Steve Apostopolis 74 00:03:35,960 --> 00:03:38,720 Speaker 4: from Canada is a real estate tycoon. We even heard 75 00:03:39,080 --> 00:03:43,200 Speaker 4: Brian Davis, the former New Duke Blue Devil Guard, making 76 00:03:43,240 --> 00:03:47,080 Speaker 4: a seven billion dollar bid, perhaps back by Middle East money. 77 00:03:47,160 --> 00:03:48,520 Speaker 4: I wonder if you know anything about that. 78 00:03:50,280 --> 00:03:52,560 Speaker 5: I actually have not heard of that one. I mean, 79 00:03:52,880 --> 00:03:54,720 Speaker 5: the big name that was linked to this for a 80 00:03:54,760 --> 00:04:00,920 Speaker 5: long time was Jeff bezos. Hey would have really overpowered 81 00:04:00,920 --> 00:04:04,760 Speaker 5: everybody else in terms of financial firepower. He hasn't gone 82 00:04:04,760 --> 00:04:08,080 Speaker 5: ahead with the deal or reports that Snyder wouldn't even 83 00:04:08,160 --> 00:04:11,360 Speaker 5: entertain a deal from him because he was upset about 84 00:04:11,400 --> 00:04:14,760 Speaker 5: some of the reporting in the Washington Posts about him. 85 00:04:15,000 --> 00:04:20,040 Speaker 5: And you know, Bezoso owns the Washington Post. This isn't 86 00:04:20,080 --> 00:04:21,880 Speaker 5: a done deal. We shouldn't make that clear, you know, 87 00:04:22,520 --> 00:04:25,160 Speaker 5: I think there is a kind of a verbally accepted deal, 88 00:04:25,200 --> 00:04:29,479 Speaker 5: but it hasn't been signed. It's gone through a kind 89 00:04:29,480 --> 00:04:34,159 Speaker 5: of a first glance approval from the NFL, and there's 90 00:04:34,160 --> 00:04:37,120 Speaker 5: some reports out today that they didn't raise any issues, 91 00:04:37,120 --> 00:04:39,599 Speaker 5: but it would still need to get a formal sign 92 00:04:39,680 --> 00:04:42,440 Speaker 5: off from I think it's twenty four to thirty two 93 00:04:42,720 --> 00:04:48,240 Speaker 5: NFL team owners, and I think that the bidding process 94 00:04:48,279 --> 00:04:51,400 Speaker 5: is still somewhat open. So you know, there is kind 95 00:04:51,400 --> 00:04:54,159 Speaker 5: of a deal that's been verbally agreed, but it hasn't 96 00:04:54,200 --> 00:04:58,839 Speaker 5: been executed yet, and it's still possible that that somebody 97 00:04:58,880 --> 00:05:01,440 Speaker 5: else comes along and take it away from Harris. 98 00:05:01,520 --> 00:05:03,960 Speaker 3: So we'll have to say there's hope for Brian Davis yet. 99 00:05:05,400 --> 00:05:07,280 Speaker 4: Well, you know, here's another one you got to think about, right, 100 00:05:07,279 --> 00:05:11,440 Speaker 4: Ted leonsis right, who owns monumental sports and entertainment. That's 101 00:05:11,480 --> 00:05:14,520 Speaker 4: the Washington Wizards, the Washington Capitals, and I think he's 102 00:05:14,520 --> 00:05:17,080 Speaker 4: trying to buy the Washington Nationals. I mean, wouldn't you 103 00:05:17,160 --> 00:05:19,080 Speaker 4: think he'd want to get involved here? I mean, and 104 00:05:19,240 --> 00:05:21,400 Speaker 4: and you know, I mean with the or the sports 105 00:05:21,440 --> 00:05:22,000 Speaker 4: market in DC. 106 00:05:22,279 --> 00:05:24,119 Speaker 2: Yeah. 107 00:05:24,160 --> 00:05:27,039 Speaker 5: Absolutely, I think that's an interesting one because you know, 108 00:05:27,080 --> 00:05:30,600 Speaker 5: he has other investors in monumental sports and entertainment, and 109 00:05:30,640 --> 00:05:34,440 Speaker 5: I think there might be some issues there with I 110 00:05:34,480 --> 00:05:37,120 Speaker 5: just don't know whether he has the funds available to 111 00:05:37,279 --> 00:05:40,840 Speaker 5: personally be on the commanders right, because he wouldn't be 112 00:05:40,839 --> 00:05:44,040 Speaker 5: able to bring he wouldn't be able to do the 113 00:05:44,080 --> 00:05:47,159 Speaker 5: big true monumental sports and entertainment right. He would have 114 00:05:47,200 --> 00:05:52,240 Speaker 5: to do it himself. So that might be an issue 115 00:05:52,279 --> 00:05:57,600 Speaker 5: for him. It's just that he hasn't really been linked. 116 00:05:57,320 --> 00:06:00,360 Speaker 3: To it in a These are problems that billionaires point 117 00:06:00,680 --> 00:06:01,120 Speaker 3: work out. 118 00:06:01,279 --> 00:06:02,760 Speaker 4: I mean, do you think Josh Harrison is going to 119 00:06:02,800 --> 00:06:04,919 Speaker 4: get any blowback from his seventy six ers fans for 120 00:06:04,960 --> 00:06:06,520 Speaker 4: buying their rival Washington. 121 00:06:06,200 --> 00:06:08,440 Speaker 1: Well Mastic seat now? And that's what I want to 122 00:06:08,480 --> 00:06:10,640 Speaker 1: bring that part up. You know, what's the old saying, 123 00:06:10,720 --> 00:06:12,560 Speaker 1: when do you make money when you buy a sports 124 00:06:12,600 --> 00:06:15,919 Speaker 1: team when you sell it? He he bought the team, 125 00:06:16,240 --> 00:06:18,840 Speaker 1: the seventy six ers and twenty eleven for two hundred 126 00:06:18,880 --> 00:06:22,520 Speaker 1: and ninety million dollars. That's chump change compared today now 127 00:06:22,720 --> 00:06:26,120 Speaker 1: spending the old what if we'll in order to make 128 00:06:26,160 --> 00:06:31,120 Speaker 1: this deal work, Wood Harris sell the seventy six ers 129 00:06:31,120 --> 00:06:32,600 Speaker 1: because he's going to make a pretty penny if he 130 00:06:32,680 --> 00:06:35,760 Speaker 1: sells the team and then puts that money to buying 131 00:06:35,760 --> 00:06:38,640 Speaker 1: the Commanders. Now, again, this is just you know, me 132 00:06:39,360 --> 00:06:42,560 Speaker 1: being the old media. What if spin the wheel start 133 00:06:42,600 --> 00:06:47,520 Speaker 1: a rumor? So I'm asking, would that be a possibility? 134 00:06:47,880 --> 00:06:50,359 Speaker 5: I think so. I think he's pretty firmly committed to 135 00:06:50,400 --> 00:06:54,120 Speaker 5: the seventy sixes. You know, when he and he's really 136 00:06:54,120 --> 00:06:57,880 Speaker 5: built that team up from being pretty under performing and 137 00:06:57,920 --> 00:07:01,840 Speaker 5: irrelevant team in the Philadelphia's postmark to a pretty you know, 138 00:07:01,880 --> 00:07:03,680 Speaker 5: it would have been a contender in the playoffs for 139 00:07:03,760 --> 00:07:05,920 Speaker 5: the last I think there's the sixth year in the 140 00:07:06,000 --> 00:07:09,800 Speaker 5: playoffs now and they're a pretty strong team. I think 141 00:07:09,800 --> 00:07:14,400 Speaker 5: for him to walk away from it now would be shocking. 142 00:07:15,480 --> 00:07:19,000 Speaker 5: So I don't really think that's that's on the cards. 143 00:07:19,040 --> 00:07:21,120 Speaker 5: But who knows. He does have a small stake in 144 00:07:21,160 --> 00:07:24,600 Speaker 5: the Pittsburgh Dealers, which if he goes ahead with this deal, 145 00:07:24,640 --> 00:07:28,920 Speaker 5: he'd have to sell because you can't stakes into NFL teams, 146 00:07:29,200 --> 00:07:31,520 Speaker 5: So you know he gets some cast of that. I 147 00:07:31,560 --> 00:07:33,360 Speaker 5: suppose will. 148 00:07:33,240 --> 00:07:36,320 Speaker 3: That under problems billionaires? 149 00:07:36,680 --> 00:07:38,600 Speaker 4: So Tom, what comes next? I mean, the owners meeting 150 00:07:38,680 --> 00:07:41,160 Speaker 4: is May twenty seconds. Could we hear something by then? 151 00:07:41,240 --> 00:07:43,320 Speaker 4: I mean I know that after that you don't hear anything. 152 00:07:43,320 --> 00:07:45,440 Speaker 4: I don't think they meet again until October. But then again, 153 00:07:45,480 --> 00:07:47,800 Speaker 4: if you look back to when the Walton's Precious, the Broncos, 154 00:07:47,840 --> 00:07:50,280 Speaker 4: they called a special meeting in August. I'm curious, you know, 155 00:07:50,280 --> 00:07:51,280 Speaker 4: what's the timeline here. 156 00:07:53,080 --> 00:07:56,160 Speaker 5: That's a good question. I'm actually not fully up to 157 00:07:56,200 --> 00:07:59,520 Speaker 5: speed on that. I would think that they're not going 158 00:07:59,600 --> 00:08:02,880 Speaker 5: to want to let this drift too long. I mean, 159 00:08:02,960 --> 00:08:05,800 Speaker 5: look at the other owners are also keen to kind 160 00:08:05,800 --> 00:08:09,680 Speaker 5: of put the Snyder noise behind them, right, I mean, 161 00:08:09,720 --> 00:08:14,800 Speaker 5: that's an ongoing investigation into his conduct being done by 162 00:08:14,840 --> 00:08:17,560 Speaker 5: the NFL, and you know, I would think there's some 163 00:08:17,640 --> 00:08:21,880 Speaker 5: pressure that maybe had this settled before that report comes out, 164 00:08:22,000 --> 00:08:26,040 Speaker 5: because the NFL has committed to making that report public. 165 00:08:26,120 --> 00:08:28,680 Speaker 5: And I think that gets a lot easier if he 166 00:08:29,120 --> 00:08:31,760 Speaker 5: at that point he is no longer an owner or 167 00:08:31,840 --> 00:08:33,520 Speaker 5: his set and no longer be an owner. 168 00:08:34,320 --> 00:08:36,120 Speaker 3: Tom. I wonder if you could give us some context 169 00:08:36,200 --> 00:08:38,400 Speaker 3: for Josh Harris. I know a lot of our audience 170 00:08:38,480 --> 00:08:41,440 Speaker 3: know about him because of his role at Apollo, his 171 00:08:42,240 --> 00:08:45,120 Speaker 3: very prominent role at Apollo, but he stepped back from that, 172 00:08:45,480 --> 00:08:49,480 Speaker 3: and it just when reading your story was Harris Blitzer's 173 00:08:49,480 --> 00:08:51,840 Speaker 3: for entertainment kind of his side gig or just kind 174 00:08:51,840 --> 00:08:55,200 Speaker 3: of a side investment he had or was this always 175 00:08:55,240 --> 00:08:58,000 Speaker 3: meant to be his new business? 176 00:08:58,840 --> 00:09:02,920 Speaker 5: Well, his new business is is really twenty six North, Oh, 177 00:09:02,960 --> 00:09:06,719 Speaker 5: another company which yeah, exactly, which I think has more 178 00:09:06,760 --> 00:09:09,360 Speaker 5: than ten billion assets on the management now. So it's 179 00:09:09,440 --> 00:09:16,600 Speaker 5: kind of an alternative asset manager that he's founded last 180 00:09:16,679 --> 00:09:22,440 Speaker 5: year late last year. So Harrick's Witzer. He is obviously 181 00:09:22,480 --> 00:09:26,840 Speaker 5: a very substantial business right It owns two major sports franchises, 182 00:09:27,679 --> 00:09:30,839 Speaker 5: and it owns some other sort of lesser known teams 183 00:09:30,840 --> 00:09:33,680 Speaker 5: as well. So the New Jersey Devil was the seventy 184 00:09:33,720 --> 00:09:36,560 Speaker 5: six is. So yes, it's kind of has always been 185 00:09:36,800 --> 00:09:41,160 Speaker 5: something he's been doing on the side. But I think 186 00:09:41,160 --> 00:09:47,280 Speaker 5: for anybody else this would be huge endeavor. So I mean, yeah, 187 00:09:47,520 --> 00:09:49,440 Speaker 5: I want to call it this idea right when it's 188 00:09:49,440 --> 00:09:49,760 Speaker 5: something that. 189 00:09:50,480 --> 00:09:54,480 Speaker 3: Totally How involved is he as an owner? Is he 190 00:09:54,480 --> 00:09:56,000 Speaker 3: helping to call the shoes? I mean, did he come 191 00:09:56,080 --> 00:09:57,719 Speaker 3: up with the idea of trust the process or is 192 00:09:57,760 --> 00:10:01,200 Speaker 3: that something that the folks he he hired have have 193 00:10:01,320 --> 00:10:02,880 Speaker 3: really originated. 194 00:10:04,080 --> 00:10:06,920 Speaker 5: The people I've spoken to have said that he is 195 00:10:06,960 --> 00:10:11,400 Speaker 5: a real sports fan. He watches the games, he you know, 196 00:10:11,480 --> 00:10:15,240 Speaker 5: gets enthused he goes to the games. But he's also 197 00:10:15,360 --> 00:10:18,920 Speaker 5: hired really good people. He's made good decisions about the 198 00:10:18,920 --> 00:10:21,640 Speaker 5: people he's put in place to run these teams. So 199 00:10:21,679 --> 00:10:26,520 Speaker 5: I don't think he is you know, he's probably not 200 00:10:26,960 --> 00:10:30,400 Speaker 5: as involved in the kind of decision making as somebody 201 00:10:30,520 --> 00:10:33,360 Speaker 5: like I don't know. There's been a lot of last 202 00:10:33,440 --> 00:10:36,080 Speaker 5: year about Todd Bowley, yeah, or Steve Cohen is another 203 00:10:36,120 --> 00:10:39,800 Speaker 5: great example, right, Steve Cohen just as the one team, 204 00:10:40,600 --> 00:10:44,559 Speaker 5: and I think it's something that he really enjoys participating in, 205 00:10:44,600 --> 00:10:47,640 Speaker 5: and he likes talking to the players and getting involved 206 00:10:47,640 --> 00:10:51,880 Speaker 5: sometimes and you know, even player transactions. And Tod Bowley 207 00:10:51,920 --> 00:10:54,880 Speaker 5: has been doing the same thing at Chelsea to kind 208 00:10:54,880 --> 00:10:58,600 Speaker 5: of less good reviews so far, I think Harris has 209 00:10:58,679 --> 00:11:00,760 Speaker 5: kind of is not as involved in day to day 210 00:11:01,280 --> 00:11:04,880 Speaker 5: as those two runners have been. Tom, How could you 211 00:11:04,920 --> 00:11:05,960 Speaker 5: be with so much going on? 212 00:11:06,040 --> 00:11:06,160 Speaker 1: Right? 213 00:11:06,200 --> 00:11:09,240 Speaker 5: I mean, I just think twenty four hours in a day. 214 00:11:09,520 --> 00:11:12,360 Speaker 4: Yeah, Tom, Just a quick question here, so you know, 215 00:11:12,400 --> 00:11:16,560 Speaker 4: we you mentioned these the multiple ongoing investigations against Dan Snyder. 216 00:11:17,000 --> 00:11:19,320 Speaker 4: I wonder if, as part of the bid, is it 217 00:11:19,360 --> 00:11:23,400 Speaker 4: possible that Harris is perhaps offering an in like an 218 00:11:23,440 --> 00:11:27,760 Speaker 4: indemnification against some of the future lawsuits questions. 219 00:11:28,360 --> 00:11:30,000 Speaker 5: And we don't we don't know the answer to that. 220 00:11:30,160 --> 00:11:31,800 Speaker 2: Okay, that's not released. Okay, got it. 221 00:11:32,480 --> 00:11:35,640 Speaker 5: But that's a that's a good question. And I think 222 00:11:35,679 --> 00:11:42,720 Speaker 5: there was definitely something that Smader apparently wants and the 223 00:11:42,760 --> 00:11:45,800 Speaker 5: Timonas have been reluctant to give him. So I think 224 00:11:46,240 --> 00:11:48,880 Speaker 5: will be really interesting to see how that develops. 225 00:11:49,480 --> 00:11:54,520 Speaker 1: Tom Maloney our own Bloomberg and we're talking about buying 226 00:11:54,559 --> 00:11:58,840 Speaker 1: the Commanders, We're talking about Josh Harris and possibly putting 227 00:11:58,840 --> 00:12:02,040 Speaker 1: his toe in there. Tom, thank you so much for 228 00:12:02,120 --> 00:12:04,560 Speaker 1: joining us here in the Bloomberg Business of Sports. This 229 00:12:04,720 --> 00:12:07,360 Speaker 1: has been the Bloomberg Business of Sports podcast and we 230 00:12:07,400 --> 00:12:09,120 Speaker 1: explore some of the big money issues in the world 231 00:12:09,160 --> 00:12:10,840 Speaker 1: of sports. I'm Michael Barr. You can follow me on 232 00:12:10,880 --> 00:12:12,240 Speaker 1: Twitter at Big Bar Sports. 233 00:12:12,400 --> 00:12:14,560 Speaker 3: I'm Scarlet Foo. I'm on Twitter at Scarlet Foo. 234 00:12:14,640 --> 00:12:16,559 Speaker 2: And I'm Damian sas Hora. I'm on Twitter at d 235 00:12:16,880 --> 00:12:17,400 Speaker 2: sas Hour. 236 00:12:17,559 --> 00:12:21,720 Speaker 1: Hey. You can catch these podcasts every Monday, Wednesday and 237 00:12:21,800 --> 00:12:25,280 Speaker 1: Thursday and download them wherever you get your podcasts.