1 00:00:02,480 --> 00:00:06,800 Speaker 1: Bloomberg Audio Studios, Podcasts, radio News. 2 00:00:07,680 --> 00:00:10,280 Speaker 2: This is Bloomberg Business of Sports. 3 00:00:10,400 --> 00:00:13,239 Speaker 3: Business of Sports can be intimidating for hard for a 4 00:00:13,320 --> 00:00:14,200 Speaker 3: start to break into. 5 00:00:14,320 --> 00:00:17,200 Speaker 4: We really appreciate what our owners are actually there, you 6 00:00:17,239 --> 00:00:18,480 Speaker 4: know with us through the journey. 7 00:00:18,520 --> 00:00:22,040 Speaker 5: Teams ours especially have been very intentional to diversify at 8 00:00:22,079 --> 00:00:23,320 Speaker 5: all levels of the unfinished ibe. 9 00:00:23,320 --> 00:00:26,360 Speaker 4: We're in the golden viewers for the NFL and college football. 10 00:00:26,400 --> 00:00:29,800 Speaker 4: Our demographic reach has continued to explain. 11 00:00:29,560 --> 00:00:33,200 Speaker 1: This is going to be really unlocking the streaming platform 12 00:00:33,280 --> 00:00:34,200 Speaker 1: for sports fans. 13 00:00:34,280 --> 00:00:36,760 Speaker 6: Sports valuations arising, we'll see when they peak. 14 00:00:36,840 --> 00:00:39,479 Speaker 7: You don't have to be the best in your sports 15 00:00:39,479 --> 00:00:42,360 Speaker 7: to make a whole ton of money. 16 00:00:42,400 --> 00:00:45,280 Speaker 2: Bloomberg Business of Sports from Bloomberg Radio. 17 00:00:47,040 --> 00:00:49,920 Speaker 8: This is the Bloomberg Business of Sports where we explore 18 00:00:49,960 --> 00:00:52,120 Speaker 8: the big winning issues in the world of sports. Michael 19 00:00:52,159 --> 00:00:55,720 Speaker 8: Barr along with my colleagues Scarlett Food, Amian SaaS Sour 20 00:00:56,160 --> 00:01:00,480 Speaker 8: and guest host Vanessa Perdomo of Bloomberg Originals. Coming up 21 00:01:00,520 --> 00:01:02,440 Speaker 8: on the show, we talked with the lead owner and 22 00:01:02,480 --> 00:01:05,760 Speaker 8: governor of the Boston Celtics, Wick Grossback, along with his 23 00:01:05,840 --> 00:01:09,360 Speaker 8: wife and business partner Emilia faz Lauri and we'll talk 24 00:01:09,400 --> 00:01:14,399 Speaker 8: about them and their joint venture with Sinkoro Tequila, as 25 00:01:14,440 --> 00:01:16,880 Speaker 8: well as the latest on the future of the Celtics. 26 00:01:16,959 --> 00:01:20,280 Speaker 9: We're meeting people right now, beginning the process put a 27 00:01:20,280 --> 00:01:22,399 Speaker 9: book together in a data room and meeting buyers, and 28 00:01:22,400 --> 00:01:25,760 Speaker 9: there's been a lot of interest actually from lots of 29 00:01:25,800 --> 00:01:26,679 Speaker 9: lots of great people. 30 00:01:27,000 --> 00:01:30,400 Speaker 8: All that is straight ahead on the Bloomberg Business of sports. 31 00:01:30,400 --> 00:01:33,840 Speaker 8: But first we have a new world series, Tappy. 32 00:01:36,840 --> 00:01:41,000 Speaker 4: Angeles You Dodgers Series. 33 00:01:41,560 --> 00:01:43,720 Speaker 8: That is Joe Davis on the call of the final 34 00:01:43,760 --> 00:01:46,320 Speaker 8: out of the World Series this week, courtesy of Fox Sports. 35 00:01:46,640 --> 00:01:49,800 Speaker 8: The Los Angeles Dodgers beat the New York Yankees four 36 00:01:49,840 --> 00:01:52,600 Speaker 8: games to one, with a seven to sixth victory that 37 00:01:52,760 --> 00:01:57,080 Speaker 8: was painful for Yankees fans. The team squandered what was 38 00:01:57,520 --> 00:02:02,040 Speaker 8: a five run lead in up fifth inning after a 39 00:02:02,120 --> 00:02:05,920 Speaker 8: series of Yankees mistakes. The heating up judge who settles 40 00:02:05,960 --> 00:02:07,560 Speaker 8: under this ball but then drops it. 41 00:02:08,320 --> 00:02:10,960 Speaker 2: Can Hernandez get to the back before the throw he 42 00:02:11,160 --> 00:02:15,919 Speaker 2: does on a routine play, Aaron Judge just flubs it. 43 00:02:16,400 --> 00:02:19,320 Speaker 8: Aaron Judgements played a routine flyball in centerfield and the 44 00:02:19,320 --> 00:02:22,640 Speaker 8: wheels just fell off for the Bombers on the other side, 45 00:02:22,800 --> 00:02:25,920 Speaker 8: the Happy Gang. The Dodgers were able to take the 46 00:02:25,960 --> 00:02:29,800 Speaker 8: series without standing play for their stars, including World Series 47 00:02:30,040 --> 00:02:33,600 Speaker 8: MVP Freddy Freeman. To all reporters after the game, he 48 00:02:33,680 --> 00:02:36,720 Speaker 8: couldn't explain what he did to get hot at the 49 00:02:36,840 --> 00:02:37,400 Speaker 8: right time. 50 00:02:37,720 --> 00:02:39,840 Speaker 2: I wish I had the real answer. I don't. 51 00:02:39,919 --> 00:02:41,960 Speaker 7: You just kind of get into some heaters so the 52 00:02:41,960 --> 00:02:43,960 Speaker 7: course of your career, and I'm just thankful that it 53 00:02:44,040 --> 00:02:45,480 Speaker 7: was got the. 54 00:02:45,400 --> 00:02:46,600 Speaker 2: Heater during the World Series. 55 00:02:47,240 --> 00:02:51,600 Speaker 8: Dodgers World Series MVP first Baseman Freddie Freeman talking to 56 00:02:51,680 --> 00:02:55,200 Speaker 8: reporters courtesy of ABC News and Now, what's next for 57 00:02:55,480 --> 00:02:59,680 Speaker 8: Yankee superstar slugger won so Doe. After the game, he 58 00:02:59,840 --> 00:03:03,600 Speaker 8: was non committal about where he might sign this offseason. 59 00:03:03,680 --> 00:03:06,800 Speaker 7: I'll be open to least in every single team. I 60 00:03:06,840 --> 00:03:09,920 Speaker 7: don't have any any doors closed or anything like that, 61 00:03:10,080 --> 00:03:13,720 Speaker 7: so I'll be gonna be available for the old Teddy teams. 62 00:03:14,200 --> 00:03:17,440 Speaker 8: Here now to help us recap is Bloomberg US sports 63 00:03:17,480 --> 00:03:21,799 Speaker 8: business reporter Randall Williams. Randall, old buddy, Welcome again to 64 00:03:21,840 --> 00:03:23,160 Speaker 8: the Bloomberg Business of Sports. 65 00:03:23,240 --> 00:03:24,760 Speaker 6: As always, thank you for having me. 66 00:03:25,280 --> 00:03:29,079 Speaker 8: Well, hey, he was noncommittal and I don't know if 67 00:03:29,080 --> 00:03:30,880 Speaker 8: he's going to be coming back next season. 68 00:03:31,040 --> 00:03:34,520 Speaker 6: All options are on the table. I think whoever has 69 00:03:34,560 --> 00:03:36,720 Speaker 6: the highest pocketbook opening that's where he. 70 00:03:36,720 --> 00:03:39,760 Speaker 2: Said it, mister Cohen. Mister Cohen. 71 00:03:41,120 --> 00:03:43,640 Speaker 6: Yankees fans would be devastated if that happens. I mean, 72 00:03:43,800 --> 00:03:47,280 Speaker 6: the Mets were one series away from being in the 73 00:03:47,320 --> 00:03:50,120 Speaker 6: World Series. So yeah, he heads there. He could be 74 00:03:50,160 --> 00:03:51,960 Speaker 6: a difference maker, to say the least. 75 00:03:52,360 --> 00:03:56,880 Speaker 8: What about now? This is more difficult one. Aaron Boom 76 00:03:58,080 --> 00:04:00,160 Speaker 8: and you know you're talking about the Yankee Skipper. He 77 00:04:00,280 --> 00:04:04,680 Speaker 8: got him there to the Fall Classic. But listen, there's 78 00:04:04,720 --> 00:04:08,080 Speaker 8: still that chatter about, well, what's going to happen next season. 79 00:04:09,080 --> 00:04:10,600 Speaker 8: I don't think you can get rid of a guy 80 00:04:10,600 --> 00:04:12,840 Speaker 8: if you get to the Fall Classic, you can't get 81 00:04:12,920 --> 00:04:13,400 Speaker 8: rid of him. 82 00:04:13,480 --> 00:04:15,800 Speaker 6: No, I don't think so. I think that that would 83 00:04:15,880 --> 00:04:18,680 Speaker 6: be shocking to many people. There's obviously, when you're in 84 00:04:18,720 --> 00:04:21,039 Speaker 6: this market specifically, you're always on the hot seat, in 85 00:04:21,120 --> 00:04:24,279 Speaker 6: large part because the expectation is championships, and the Yankees 86 00:04:24,320 --> 00:04:26,880 Speaker 6: are the Yankees, and so when you get to the Championship, 87 00:04:26,920 --> 00:04:28,880 Speaker 6: the expectation is to win it. And they go down 88 00:04:28,920 --> 00:04:31,360 Speaker 6: three to zero, they obviously have a resilient Game four, 89 00:04:31,920 --> 00:04:34,720 Speaker 6: Game five was winna them there's mistakes, and I'm sure 90 00:04:34,720 --> 00:04:36,919 Speaker 6: there will be a discussion about how things can improve 91 00:04:37,040 --> 00:04:40,400 Speaker 6: and you know, lineups and how to fix Aaron Judge 92 00:04:40,480 --> 00:04:44,359 Speaker 6: quite frankly in the playoffs, but I would be shocked. 93 00:04:44,560 --> 00:04:46,359 Speaker 6: I would be shocked if he was let go. 94 00:04:47,120 --> 00:04:50,440 Speaker 8: Yeah, and Aaron Judge, yes, I know, there's the error 95 00:04:50,480 --> 00:04:54,480 Speaker 8: that started everything that went going. He misplayed the ball. 96 00:04:55,279 --> 00:04:59,080 Speaker 8: But the one I think more about is the first 97 00:04:59,160 --> 00:05:03,120 Speaker 8: base era where they didn't cover first base. That just 98 00:05:03,240 --> 00:05:04,600 Speaker 8: wasn't good defense. 99 00:05:10,920 --> 00:05:14,239 Speaker 6: It was an onslaught after that, I mean, just mistake 100 00:05:14,320 --> 00:05:16,839 Speaker 6: after mistake and devastating mistakes to be two outs. 101 00:05:16,880 --> 00:05:17,760 Speaker 2: If this was one out or. 102 00:05:17,800 --> 00:05:19,640 Speaker 6: No outs or something like that, then it's like, ah, 103 00:05:19,880 --> 00:05:21,240 Speaker 6: you know, you just got yourself in a hole, but 104 00:05:21,320 --> 00:05:26,640 Speaker 6: two outs. Getting ready to transition to the Yankees being 105 00:05:26,680 --> 00:05:31,160 Speaker 6: it bad, it's bad, it's bad. But from for Judges perspective, 106 00:05:31,240 --> 00:05:33,680 Speaker 6: he's known as this big home run hitter, the superstar 107 00:05:33,760 --> 00:05:36,040 Speaker 6: of the team and the captain. And when you don't 108 00:05:36,080 --> 00:05:40,120 Speaker 6: have that guy who is capable of doing that. As 109 00:05:40,240 --> 00:05:43,520 Speaker 6: from a locker room standpoint, it'd be like Lebron or 110 00:05:43,520 --> 00:05:46,120 Speaker 6: Steph and you're just waiting for them to arrive. You're 111 00:05:46,120 --> 00:05:47,400 Speaker 6: waiting for that thirty point game. 112 00:05:47,440 --> 00:05:47,840 Speaker 2: You're waiting. 113 00:05:47,839 --> 00:05:49,880 Speaker 6: If it's Patrick Mahomes, you're waiting for that three hundred 114 00:05:49,960 --> 00:05:52,280 Speaker 6: yard passing game, and it never came. And then when 115 00:05:52,320 --> 00:05:55,120 Speaker 6: it finally arrived, it's like, great, Okay, he's here, he's arrived, 116 00:05:55,200 --> 00:05:57,719 Speaker 6: and then he drops the ball and the rest is history. 117 00:05:58,279 --> 00:06:01,600 Speaker 8: Now the good news for the team, the executives, Yes, 118 00:06:02,080 --> 00:06:03,960 Speaker 8: they didn't want to sweep, so they didn't get that. 119 00:06:04,040 --> 00:06:06,159 Speaker 8: So they got another game out of that, and the 120 00:06:06,240 --> 00:06:08,719 Speaker 8: revenue was great. And on top of that here in 121 00:06:08,760 --> 00:06:12,440 Speaker 8: the United States, in Japan, because of show Hey Otani 122 00:06:12,720 --> 00:06:16,159 Speaker 8: with the Dodgers, it was smoking on TVs. Yeah, it was. 123 00:06:17,080 --> 00:06:20,080 Speaker 6: I believe our story by my colleague Hannah Miller said 124 00:06:20,080 --> 00:06:23,160 Speaker 6: that around twelve percent of the population of Japan watch 125 00:06:23,240 --> 00:06:25,320 Speaker 6: that game. That is absurd. I know there's a big 126 00:06:25,360 --> 00:06:27,960 Speaker 6: population difference between America and Japan, but twelve percent of 127 00:06:28,000 --> 00:06:31,480 Speaker 6: a country watching something like this, that's great for the MLB. 128 00:06:32,120 --> 00:06:34,880 Speaker 8: Randa Williams, my man, thank you again for joining us 129 00:06:35,080 --> 00:06:36,719 Speaker 8: on the Bloomberg Business of Sports. 130 00:06:36,920 --> 00:06:38,080 Speaker 6: As always, thank you for having me. 131 00:06:38,279 --> 00:06:42,360 Speaker 8: Now we turn to the sports gaming industry. Lucas Sports 132 00:06:42,480 --> 00:06:46,120 Speaker 8: is a growing company targeting around fifty million fantasy football 133 00:06:46,200 --> 00:06:49,359 Speaker 8: players and over two hundred million video gamers in the 134 00:06:49,480 --> 00:06:52,520 Speaker 8: US here to talk to us about the venture and 135 00:06:52,560 --> 00:06:56,440 Speaker 8: the future of the sports gaming business. We welcome Lucras 136 00:06:56,480 --> 00:06:59,680 Speaker 8: Sports CEO Dylan Robbins. Dylan, thank you. 137 00:06:59,680 --> 00:07:01,200 Speaker 2: For being happy to be here. 138 00:07:01,240 --> 00:07:02,760 Speaker 3: I can talk about sports all day. 139 00:07:03,320 --> 00:07:06,919 Speaker 8: Well check us first of all about the sports gaming company. 140 00:07:06,960 --> 00:07:08,320 Speaker 8: What is it all about? 141 00:07:08,520 --> 00:07:10,960 Speaker 3: Yeah, so Lucra at its core, you know, we're all 142 00:07:11,000 --> 00:07:14,040 Speaker 3: about amplifying the fund So, like, what does that actually mean. 143 00:07:14,200 --> 00:07:15,400 Speaker 2: There's a lot of people out. 144 00:07:15,200 --> 00:07:17,800 Speaker 3: There who are competing on things, whether they're watching sports 145 00:07:17,880 --> 00:07:19,920 Speaker 3: or they're playing sports. We're going to the golf course, 146 00:07:19,960 --> 00:07:22,400 Speaker 3: we're playing pickleball, maybe we're going to the bar, we're 147 00:07:22,440 --> 00:07:24,880 Speaker 3: playing darts, or we're watching our favorite team. There's so 148 00:07:25,000 --> 00:07:27,520 Speaker 3: much like friendly competition out there. And I feel like 149 00:07:27,680 --> 00:07:29,880 Speaker 3: for years has been a growing market of like sports betting, 150 00:07:29,920 --> 00:07:32,680 Speaker 3: sports betting, sports betting, and we think that the casual 151 00:07:32,760 --> 00:07:35,480 Speaker 3: fan who's going to the bar and you know, maybe 152 00:07:35,520 --> 00:07:37,880 Speaker 3: throwing darts with their buddies is miss is missed out. 153 00:07:37,920 --> 00:07:39,600 Speaker 3: And so our platform is all about, hey, how do 154 00:07:39,680 --> 00:07:42,600 Speaker 3: we kind of digitize those moments for those fans, And 155 00:07:42,640 --> 00:07:46,480 Speaker 3: so you know, we amplify the fund through a gamification platform. 156 00:07:46,560 --> 00:07:48,440 Speaker 3: So at its core, we're we're just trying to connect 157 00:07:48,440 --> 00:07:51,720 Speaker 3: fans with fans and provide fun ways for them to compete. 158 00:07:51,760 --> 00:07:54,360 Speaker 3: And so the way we do that is a bit unique. 159 00:07:54,360 --> 00:07:57,200 Speaker 3: Instead of downloading the Lucra app and saying, hey, Michael, 160 00:07:57,200 --> 00:08:00,960 Speaker 3: come challenge me, we embed our technology into other businesses. Right, 161 00:08:01,000 --> 00:08:04,040 Speaker 3: so we put our our kind of our gamification tech 162 00:08:04,280 --> 00:08:06,600 Speaker 3: into their app, into their website, so you don't have 163 00:08:06,640 --> 00:08:09,120 Speaker 3: to leave the ecosystem you're already competing in. So I'm 164 00:08:09,120 --> 00:08:11,800 Speaker 3: sure we'll talk about some examples, but that's kind of 165 00:08:11,840 --> 00:08:13,720 Speaker 3: the skinny of what we do, right. 166 00:08:13,800 --> 00:08:16,600 Speaker 10: Yeah, I know you guys are partnered with David Busters 167 00:08:16,640 --> 00:08:19,360 Speaker 10: and exactly that. So I thought found this is super 168 00:08:19,360 --> 00:08:21,440 Speaker 10: fascinating because me and my boyfriends Zolbe do we s 169 00:08:21,520 --> 00:08:24,200 Speaker 10: on the couch. We just bet on everything. You know, 170 00:08:24,280 --> 00:08:26,440 Speaker 10: it's who buys the next bottle of wine, It's said 171 00:08:26,480 --> 00:08:30,160 Speaker 10: David Busters. It's literally the whole time. So when you're 172 00:08:30,160 --> 00:08:31,760 Speaker 10: a DVA Busters, tell me how it works and tell 173 00:08:31,760 --> 00:08:33,440 Speaker 10: me how you got partnered with them and why you 174 00:08:33,520 --> 00:08:37,240 Speaker 10: felt that, you know, licensing the technology was another way 175 00:08:37,360 --> 00:08:39,240 Speaker 10: for you guys to have your business totally. 176 00:08:39,280 --> 00:08:41,480 Speaker 3: So I mean you imagine you and your boyfriend walking 177 00:08:41,480 --> 00:08:43,480 Speaker 3: to Dave and Busters and you know, there's what's great 178 00:08:43,520 --> 00:08:46,199 Speaker 3: about their businesses. Everything there is competable, right, Like literally 179 00:08:46,240 --> 00:08:47,720 Speaker 3: what you do is you go there and new challenge 180 00:08:47,760 --> 00:08:49,200 Speaker 3: and you get that kind of dopamine hit in the 181 00:08:49,200 --> 00:08:51,360 Speaker 3: fun of competing with friends, just saying. 182 00:08:51,160 --> 00:08:52,439 Speaker 10: No one can bebian air hockey. 183 00:08:52,679 --> 00:08:54,400 Speaker 3: Okay, I'm a legend. Air hockey is one of our 184 00:08:54,600 --> 00:08:57,000 Speaker 3: it's actually one of our top games out there, so 185 00:08:57,480 --> 00:08:58,360 Speaker 3: we can put that to the test. 186 00:08:58,400 --> 00:08:58,800 Speaker 5: At some point. 187 00:08:58,840 --> 00:09:00,520 Speaker 3: There's a great Dave and Busters and Time Square, so 188 00:09:01,160 --> 00:09:04,280 Speaker 3: we're close by, but you got you go in there 189 00:09:04,280 --> 00:09:06,520 Speaker 3: with your boyfriend and you go into their loyalty app. 190 00:09:06,520 --> 00:09:09,040 Speaker 3: And so one of the big drivers of this partnership is, Hey, 191 00:09:09,160 --> 00:09:12,000 Speaker 3: they've got thirty plus million Americans who go there, but 192 00:09:12,040 --> 00:09:13,800 Speaker 3: only so many of them actually have the app, right, 193 00:09:13,840 --> 00:09:15,600 Speaker 3: And they're like, how do we get more people on there? 194 00:09:15,720 --> 00:09:17,440 Speaker 3: If you can challenge your friends for the app, maybe 195 00:09:17,440 --> 00:09:19,320 Speaker 3: that's a first draw. So you see a QR code 196 00:09:19,360 --> 00:09:21,280 Speaker 3: or you see a marketing asset in store and you say, hey, 197 00:09:21,400 --> 00:09:22,720 Speaker 3: I can challenge you to air hockey. 198 00:09:22,840 --> 00:09:23,880 Speaker 2: Let's do it. So you both. 199 00:09:23,760 --> 00:09:25,800 Speaker 3: Download the app and you can put funds in there, 200 00:09:25,840 --> 00:09:28,480 Speaker 3: so you know, PayPal and mo credit card, debit card. 201 00:09:28,520 --> 00:09:28,640 Speaker 4: You know. 202 00:09:28,720 --> 00:09:31,240 Speaker 3: However, you have your funds and then you can challenge 203 00:09:31,280 --> 00:09:32,839 Speaker 3: each other to a game of air hockey and then 204 00:09:32,840 --> 00:09:34,360 Speaker 3: we screw the money for you so you don't have 205 00:09:34,400 --> 00:09:36,520 Speaker 3: to worry about following up with your boyfriend to pay 206 00:09:36,559 --> 00:09:37,960 Speaker 3: up at the end of the contest, which you know, 207 00:09:38,000 --> 00:09:40,400 Speaker 3: I don't know him, but maybe maybe that's hard to collect. 208 00:09:40,559 --> 00:09:42,360 Speaker 3: And then once the game is over, you just select 209 00:09:42,360 --> 00:09:44,360 Speaker 3: the winner and the money flows into your account. And 210 00:09:44,360 --> 00:09:46,199 Speaker 3: what's cool from here is where I think the value 211 00:09:46,200 --> 00:09:49,079 Speaker 3: gets really exciting. And what's coming soon right now we're 212 00:09:49,120 --> 00:09:51,199 Speaker 3: just in beta, is anything that you win, you'll be 213 00:09:51,200 --> 00:09:52,400 Speaker 3: able to spend a day and busters. 214 00:09:52,480 --> 00:09:54,160 Speaker 2: So the goal is that, hey. 215 00:09:54,520 --> 00:09:56,439 Speaker 3: You know, I want twenty bucks in a game of 216 00:09:56,520 --> 00:10:00,720 Speaker 3: popa shot or in air hockey, I can buy a 217 00:10:00,720 --> 00:10:02,480 Speaker 3: burger at a discount, or I can spend that money 218 00:10:02,520 --> 00:10:04,319 Speaker 3: on food and beverage, or I can load that money 219 00:10:04,320 --> 00:10:06,640 Speaker 3: back up onto my power card. So that's kind of 220 00:10:06,640 --> 00:10:08,199 Speaker 3: why we thought to kind of go the B to 221 00:10:08,280 --> 00:10:11,360 Speaker 3: B route, is we think we can drive more, dwell 222 00:10:11,440 --> 00:10:14,720 Speaker 3: time more repeat visitation, you know, more and more average 223 00:10:14,760 --> 00:10:17,160 Speaker 3: per check size spent at david Busters and brands like it, 224 00:10:17,200 --> 00:10:19,760 Speaker 3: because if a burger is fifteen ninety nine, but you 225 00:10:19,760 --> 00:10:22,000 Speaker 3: can play for a burger for twelve ninety nine, that's 226 00:10:22,040 --> 00:10:23,720 Speaker 3: a win win for everybody because you get there, they 227 00:10:23,720 --> 00:10:25,400 Speaker 3: get they get you spending more money, and they get 228 00:10:25,440 --> 00:10:27,679 Speaker 3: your loyalty information and they get kind of that kind 229 00:10:27,720 --> 00:10:29,560 Speaker 3: of repeat gamification from you. 230 00:10:29,920 --> 00:10:32,679 Speaker 8: Now they also have obviously the video games, and I 231 00:10:32,720 --> 00:10:36,440 Speaker 8: love racing games. So how does that what you know? 232 00:10:37,679 --> 00:10:41,600 Speaker 8: You know me, how does that apply to you? 233 00:10:41,679 --> 00:10:42,040 Speaker 2: Totally? 234 00:10:42,080 --> 00:10:44,520 Speaker 3: So our racing games is one of our top categories 235 00:10:44,559 --> 00:10:46,040 Speaker 3: where you can go and all the racing games they 236 00:10:46,080 --> 00:10:48,960 Speaker 3: have there are are competable, right, so you can go 237 00:10:48,960 --> 00:10:50,560 Speaker 3: in there and challenge me, Hey, I'm going to have 238 00:10:50,559 --> 00:10:52,160 Speaker 3: the fastest lap, or hey I'm going to beat you 239 00:10:52,160 --> 00:10:54,360 Speaker 3: in this game. And the winner of that game maybe 240 00:10:54,400 --> 00:10:56,599 Speaker 3: they get twenty percent off their next burger, right, And 241 00:10:56,640 --> 00:10:59,040 Speaker 3: so it's not just what's really cool about our business 242 00:10:59,200 --> 00:11:00,600 Speaker 3: is we have a real money option where you can 243 00:11:00,600 --> 00:11:03,720 Speaker 3: play for dollars. We also have a coupons or cash 244 00:11:03,720 --> 00:11:05,920 Speaker 3: alternatives game where hey, maybe I don't want to deposit 245 00:11:05,960 --> 00:11:07,880 Speaker 3: thirty bucks in, but I'll play for buy one, get 246 00:11:07,880 --> 00:11:09,480 Speaker 3: one free wings, right, And so it's a way to 247 00:11:09,559 --> 00:11:13,080 Speaker 3: kind of gamify loyalty for brands to say, hey, you know, 248 00:11:13,800 --> 00:11:15,120 Speaker 3: you could leave a buy one. There's a lot of 249 00:11:15,160 --> 00:11:17,120 Speaker 3: a date out there that says, maybe I leave a 250 00:11:17,160 --> 00:11:19,000 Speaker 3: buy one, get one free coupon on the table and 251 00:11:19,040 --> 00:11:21,160 Speaker 3: people don't cash it in. But if they play for 252 00:11:21,240 --> 00:11:23,079 Speaker 3: it and they're competing for it and they feel like 253 00:11:23,120 --> 00:11:25,280 Speaker 3: they've won it, they kind of gamifies that experience and 254 00:11:25,320 --> 00:11:26,959 Speaker 3: they go and they cash it in at the bar, right. 255 00:11:26,960 --> 00:11:28,520 Speaker 3: And so that's a big part of our kind of 256 00:11:28,520 --> 00:11:29,560 Speaker 3: our value prop as well. 257 00:11:29,640 --> 00:11:32,920 Speaker 8: Do you know what Vanessa Dylan my youngest son, he's 258 00:11:33,040 --> 00:11:34,920 Speaker 8: nineteen now, and he would do this all the time 259 00:11:34,920 --> 00:11:39,000 Speaker 8: when we would play Grand Tarismo and all that stuff. 260 00:11:39,480 --> 00:11:42,800 Speaker 8: So we would race and then he might have a 261 00:11:42,880 --> 00:11:45,640 Speaker 8: bad lap. So what he'll do is that he'll turn 262 00:11:45,720 --> 00:11:49,280 Speaker 8: the car around and then come at me as I'm 263 00:11:49,400 --> 00:11:50,520 Speaker 8: trying to race head on. 264 00:11:51,120 --> 00:11:52,800 Speaker 2: Yeah, and it's like, you know. 265 00:11:52,840 --> 00:11:58,280 Speaker 10: Wow, that's a strategy to because I'm horrible racist. 266 00:12:00,200 --> 00:12:01,360 Speaker 8: Your boyfriend's gonna live bit. 267 00:12:01,520 --> 00:12:05,680 Speaker 10: Yeah, sure, that's so funny. So the thing for me 268 00:12:05,800 --> 00:12:09,000 Speaker 10: that I'd love to hear for you, when how you 269 00:12:09,080 --> 00:12:11,720 Speaker 10: started it is how you knew there was a market 270 00:12:11,760 --> 00:12:14,280 Speaker 10: to digitize this because like, for me, if we're just 271 00:12:14,600 --> 00:12:17,439 Speaker 10: if we're in a bar, why do I need to. 272 00:12:17,640 --> 00:12:18,120 Speaker 11: Have the app? 273 00:12:18,240 --> 00:12:18,720 Speaker 2: Great question? 274 00:12:18,760 --> 00:12:21,719 Speaker 3: So the company started me and my partner Mike. We've 275 00:12:21,760 --> 00:12:24,160 Speaker 3: been friends for fifteen years, and we competed on everything, 276 00:12:24,200 --> 00:12:25,880 Speaker 3: and we had this note on our phone. Right, So, 277 00:12:25,920 --> 00:12:27,600 Speaker 3: like we go play golf, he'd on't me ten bucks. 278 00:12:27,720 --> 00:12:29,400 Speaker 3: You know, I'm a big Knicks fan. I'd bet ten 279 00:12:29,440 --> 00:12:30,839 Speaker 3: bucks on the next with him. He's a Warriors fan. 280 00:12:30,840 --> 00:12:33,560 Speaker 3: He'd on me twenty bucks and he'd never pay up. Sorry, Mike, 281 00:12:33,760 --> 00:12:36,440 Speaker 3: He'd never pay up, and we would lose track. We 282 00:12:36,440 --> 00:12:38,120 Speaker 3: had no leaderboard, we had no really, it was just 283 00:12:38,160 --> 00:12:40,160 Speaker 3: kind of this like you know in the ether thing, right, 284 00:12:40,200 --> 00:12:41,400 Speaker 3: and we kind of said, well, what there needs to 285 00:12:41,440 --> 00:12:42,800 Speaker 3: be something for this, right, There needs to be a 286 00:12:42,840 --> 00:12:45,319 Speaker 3: digital way to do this, and you know, we started 287 00:12:45,320 --> 00:12:47,679 Speaker 3: thinking about that as a director consumer platform, and it's 288 00:12:47,720 --> 00:12:50,400 Speaker 3: just really competitive, like candidly, you're out there competing against 289 00:12:50,400 --> 00:12:52,720 Speaker 3: the big players that we all know well, who are 290 00:12:52,720 --> 00:12:55,960 Speaker 3: spending a fortune on customer acquisition. And we realized that 291 00:12:56,000 --> 00:12:58,080 Speaker 3: there's tons of brands out there and team we could 292 00:12:58,080 --> 00:13:00,280 Speaker 3: talk about sports teams as well that are kind of 293 00:13:00,320 --> 00:13:02,240 Speaker 3: I think like missing the mark. Are that have you know, 294 00:13:02,320 --> 00:13:05,079 Speaker 3: millions and millions of customers, but haven't captured the tailwind 295 00:13:05,320 --> 00:13:06,960 Speaker 3: this sports betting has had. So he said, can we 296 00:13:07,000 --> 00:13:09,160 Speaker 3: pair these two things together where we know there's a 297 00:13:09,200 --> 00:13:11,080 Speaker 3: need for people to do this and we know those 298 00:13:11,080 --> 00:13:13,000 Speaker 3: brands that want this. And so if you get to 299 00:13:13,040 --> 00:13:14,880 Speaker 3: the core of your question, I think it's a multi 300 00:13:14,880 --> 00:13:18,199 Speaker 3: prong thing. Why would we not do it with cash? 301 00:13:18,480 --> 00:13:20,280 Speaker 3: First of all, we screw the money to a point 302 00:13:20,320 --> 00:13:22,040 Speaker 3: with your boyfriend, you don't have to worry about about 303 00:13:22,080 --> 00:13:24,480 Speaker 3: following up. Two is we have a lifelong leaderboard. So 304 00:13:24,520 --> 00:13:26,800 Speaker 3: every contest you've ever played at DAVEM. Bussers or five 305 00:13:26,840 --> 00:13:28,440 Speaker 3: Iron or one of our partners, you now have a 306 00:13:28,480 --> 00:13:30,880 Speaker 3: tally like there's no bs, who's up, Who's down? You 307 00:13:30,880 --> 00:13:33,440 Speaker 3: can share that to social media, et cetera. And number three, 308 00:13:33,520 --> 00:13:36,160 Speaker 3: and I think probably most importantly is the brand is 309 00:13:36,160 --> 00:13:38,360 Speaker 3: going to give you an incentive a reward to do 310 00:13:38,400 --> 00:13:40,560 Speaker 3: it through them. That's the concept of the burgers fifteen, 311 00:13:40,640 --> 00:13:42,720 Speaker 3: but now it's twelve or get a discount or a 312 00:13:42,720 --> 00:13:45,120 Speaker 3: coupon to come play and so the brand. It's a 313 00:13:45,200 --> 00:13:47,720 Speaker 3: very unique thing, and this has really been resonating with 314 00:13:47,760 --> 00:13:50,280 Speaker 3: me lately. It's the first thing I've seen in gaming 315 00:13:50,600 --> 00:13:53,120 Speaker 3: where the brand is aligned with the customers. If I 316 00:13:53,160 --> 00:13:55,320 Speaker 3: go play on a sportsbook, they want to beat me. 317 00:13:55,360 --> 00:13:57,360 Speaker 3: They can pretend that they don't, but in reality, I'm 318 00:13:57,360 --> 00:13:59,560 Speaker 3: putting money in and they're playing against me. But if 319 00:13:59,559 --> 00:14:02,240 Speaker 3: I'm going to you know, five Iron Golf, which is 320 00:14:02,240 --> 00:14:03,920 Speaker 3: one of our new partners, the golf simulator, they have 321 00:14:03,960 --> 00:14:05,520 Speaker 3: one here in New York, and I'm saying I can 322 00:14:05,600 --> 00:14:07,680 Speaker 3: hit a drive over two hundred, they want me to 323 00:14:07,720 --> 00:14:09,240 Speaker 3: hit a drive over two hundred so I get the 324 00:14:09,280 --> 00:14:12,120 Speaker 3: money to spend at their ecosystem. They're not playing against me. 325 00:14:12,160 --> 00:14:14,800 Speaker 3: I'm playing for twenty percent off my next burger, which 326 00:14:14,840 --> 00:14:16,839 Speaker 3: they want me to buy anyway. So it's a unique 327 00:14:16,880 --> 00:14:20,120 Speaker 3: alignment of interest between the customer and the brand or 328 00:14:20,160 --> 00:14:23,200 Speaker 3: the team. Another interesting example is we're working on some 329 00:14:23,680 --> 00:14:26,200 Speaker 3: partnerships with professional sports teams where we could go to 330 00:14:26,200 --> 00:14:28,400 Speaker 3: the arena and I could say, Hey, I think Lebron's 331 00:14:28,440 --> 00:14:30,200 Speaker 3: going to hit the next three pointer, and if he does, 332 00:14:30,360 --> 00:14:32,400 Speaker 3: I get twenty percent off my next jersey, Right and 333 00:14:32,440 --> 00:14:35,120 Speaker 3: so it's a way to say, hey, it's a win win. 334 00:14:35,200 --> 00:14:37,160 Speaker 3: They want you to buy a jersey, they're probably willing 335 00:14:37,200 --> 00:14:39,200 Speaker 3: to give you twenty percent off a jersey anyway. But 336 00:14:39,280 --> 00:14:41,120 Speaker 3: because I want it, because I did that, I'm more 337 00:14:41,200 --> 00:14:43,000 Speaker 3: likely to spend it. So's you can almost start to 338 00:14:43,040 --> 00:14:45,200 Speaker 3: think about it. It's like a gamified version of loyalty. 339 00:14:45,240 --> 00:14:47,600 Speaker 3: Instead of just winning points that kind of sit around 340 00:14:47,880 --> 00:14:49,520 Speaker 3: that you don't know what to do with, you're getting 341 00:14:49,520 --> 00:14:51,560 Speaker 3: an actionable item that you can go right there, cash 342 00:14:51,600 --> 00:14:52,160 Speaker 3: in and spend. 343 00:14:52,880 --> 00:14:56,000 Speaker 8: Yeah, that's the thing about points. I had some points 344 00:14:56,120 --> 00:15:00,640 Speaker 8: at an arcade right and then the arcade now and 345 00:15:01,120 --> 00:15:04,040 Speaker 8: I lost all my points. But the way you're talking 346 00:15:04,040 --> 00:15:07,760 Speaker 8: about doing it, and you can cash in right there. 347 00:15:07,880 --> 00:15:13,480 Speaker 8: So it's not sports betting because you are putting it 348 00:15:14,320 --> 00:15:16,800 Speaker 8: for prizes, but it does work. 349 00:15:16,960 --> 00:15:19,160 Speaker 3: Yeah, I mean to really just say it bluntly. It's 350 00:15:19,160 --> 00:15:21,560 Speaker 3: a free to play game, but it simulates that feeling 351 00:15:21,560 --> 00:15:23,200 Speaker 3: of what a sports bet could be. Right, Like I 352 00:15:23,200 --> 00:15:24,960 Speaker 3: could say I think the Lakers are going to beat 353 00:15:24,960 --> 00:15:27,760 Speaker 3: the Clippers, but I'm not betting dollars. I'm playing for 354 00:15:27,800 --> 00:15:30,800 Speaker 3: the ability to win something, right, and so if I lose, 355 00:15:30,840 --> 00:15:32,600 Speaker 3: I'm no worse off. I don't lose anything, but if 356 00:15:32,600 --> 00:15:34,960 Speaker 3: I win, I get something. And what we're trying to 357 00:15:35,000 --> 00:15:36,480 Speaker 3: do is say, how do we make everyone a winner? 358 00:15:36,480 --> 00:15:38,960 Speaker 3: So if I challenge Michael for twenty percent off a 359 00:15:38,960 --> 00:15:41,720 Speaker 3: burger and he wins, maybe I get a notification, Hey, 360 00:15:41,720 --> 00:15:43,440 Speaker 3: you didn't win, but here's five percent off your burger. 361 00:15:43,480 --> 00:15:46,040 Speaker 3: You know, like something, something to drag the loser back in. 362 00:15:46,200 --> 00:15:48,040 Speaker 2: A game of pool, a game of bee. 363 00:15:48,120 --> 00:15:50,040 Speaker 3: Yeah, yeah, a game of pool would be great. I 364 00:15:50,040 --> 00:15:51,720 Speaker 3: know where there's a lot of cool stuff happening in 365 00:15:51,760 --> 00:15:54,680 Speaker 3: pool and billiards, and you know, eventually right right now, 366 00:15:54,680 --> 00:15:57,080 Speaker 3: we're partnering with just big, large brands, but I would 367 00:15:57,120 --> 00:15:59,360 Speaker 3: like to sell our technology into every bar in the country. 368 00:15:59,440 --> 00:16:01,000 Speaker 3: Right and so I have a really cool deal with 369 00:16:01,000 --> 00:16:04,160 Speaker 3: a company called touch Tunes. They're the largest jukebox provider 370 00:16:04,200 --> 00:16:06,560 Speaker 3: in the US. They're in about sixty thousand plus locations, 371 00:16:06,760 --> 00:16:09,040 Speaker 3: and there are entry point into every bar in America 372 00:16:09,080 --> 00:16:09,800 Speaker 3: where they don't. 373 00:16:09,640 --> 00:16:10,440 Speaker 2: Just listen to music. 374 00:16:10,560 --> 00:16:13,120 Speaker 3: They play pool, they play darts, they play pinball, you know, 375 00:16:13,120 --> 00:16:15,520 Speaker 3: they play buck Hunter and Golden tea. And our vision 376 00:16:15,560 --> 00:16:17,400 Speaker 3: with them is how do we own the night and 377 00:16:17,480 --> 00:16:19,440 Speaker 3: own the fund? So those credits that you can use 378 00:16:19,440 --> 00:16:21,640 Speaker 3: to buy songs. Can you challenge your friends to a 379 00:16:21,640 --> 00:16:23,320 Speaker 3: game of darts with them as well? Right, and so 380 00:16:23,360 --> 00:16:25,640 Speaker 3: try to kind of connect all this. There's so much 381 00:16:25,640 --> 00:16:28,680 Speaker 3: stuff happening offline, and we live in such a technology 382 00:16:28,680 --> 00:16:30,600 Speaker 3: focused era, and so it's like, can we just bring 383 00:16:30,640 --> 00:16:33,800 Speaker 3: some of these things in to the digital world. It's 384 00:16:33,880 --> 00:16:35,520 Speaker 3: kind of a simple skinny of it. 385 00:16:35,720 --> 00:16:38,160 Speaker 10: Yeah, I think that's so in such an interesting concept 386 00:16:38,160 --> 00:16:40,600 Speaker 10: because when I was looking into it, I was like, 387 00:16:40,640 --> 00:16:43,120 Speaker 10: how dos one play against a business? 388 00:16:43,200 --> 00:16:44,640 Speaker 6: I guess in that way. 389 00:16:44,640 --> 00:16:48,160 Speaker 10: So it does seem very intensitive on both parts. Can you, 390 00:16:48,520 --> 00:16:52,560 Speaker 10: as a customer, when you're just on your app itself, 391 00:16:52,600 --> 00:16:54,040 Speaker 10: can you add your own activities in? 392 00:16:54,440 --> 00:16:57,000 Speaker 3: So it's a great question. Everything that we do legally 393 00:16:57,040 --> 00:16:59,280 Speaker 3: has to be considered a skill based game. So, for example, 394 00:16:59,360 --> 00:17:01,360 Speaker 3: at David Buss, so you can't just spin the wheel 395 00:17:01,400 --> 00:17:04,280 Speaker 3: of fortune prize wheel and wager on that because that's 396 00:17:04,280 --> 00:17:06,240 Speaker 3: a game of chance. So legally we're a skill based 397 00:17:06,600 --> 00:17:09,480 Speaker 3: gaming business. And so because of that, we can't really 398 00:17:09,480 --> 00:17:11,560 Speaker 3: trust you to add your own game because we don't 399 00:17:11,600 --> 00:17:13,680 Speaker 3: know what you're gonna add. So down the road we 400 00:17:13,720 --> 00:17:16,200 Speaker 3: could see some sort of like machine learning natural angorous 401 00:17:16,240 --> 00:17:18,880 Speaker 3: processing thing where we use AI to figure that out. 402 00:17:19,040 --> 00:17:20,919 Speaker 3: But right now, we select our own games. So we 403 00:17:20,960 --> 00:17:23,080 Speaker 3: have over one hundred and fifty game types. There's very 404 00:17:23,119 --> 00:17:24,760 Speaker 3: few things that you'd want that we don't have. We 405 00:17:24,800 --> 00:17:29,840 Speaker 3: have a suggestion option. We'll add it if you want it. Triviaah, yeah, jah, 406 00:17:29,880 --> 00:17:32,320 Speaker 3: trivia trivia is up there. Love we love trivia. Yeah, 407 00:17:32,359 --> 00:17:35,040 Speaker 3: trivia is a lot of fun. And we're actually working 408 00:17:35,080 --> 00:17:36,960 Speaker 3: on some really cool stuff in movie trivia. So we 409 00:17:37,000 --> 00:17:39,760 Speaker 3: have a new partner. We'll imagine you and I are 410 00:17:39,760 --> 00:17:41,600 Speaker 3: going to see you know, Inside Out to or Dune 411 00:17:41,640 --> 00:17:43,480 Speaker 3: two or one of those movies. And before we go 412 00:17:43,520 --> 00:17:45,040 Speaker 3: to buy our ticket, we could say, hey, let's play 413 00:17:45,040 --> 00:17:47,800 Speaker 3: a quick ten question trivia game. Winner gets twenty percent 414 00:17:47,840 --> 00:17:50,840 Speaker 3: off popcorn, or loser buys the winner tickets, right, And 415 00:17:50,880 --> 00:17:52,959 Speaker 3: so it's like, hey, I'm a Harry Potter buff, you're 416 00:17:52,960 --> 00:17:55,280 Speaker 3: Ary Potter buff. Like, let's let's go, you know, And 417 00:17:55,320 --> 00:17:56,960 Speaker 3: so I beat anyone I would lose. 418 00:17:57,000 --> 00:17:57,679 Speaker 2: I would lose that. 419 00:17:58,040 --> 00:18:00,200 Speaker 3: My wife's a baby Harry Potter fan, and I watch 420 00:18:00,240 --> 00:18:01,920 Speaker 3: the movies one hundred times, but they haven't I don't 421 00:18:01,920 --> 00:18:05,359 Speaker 3: know enough. But uh, but yeah, it's a really interesting 422 00:18:05,400 --> 00:18:07,560 Speaker 3: way to say, Hey, I'm already buying tickets. I'm probably 423 00:18:07,600 --> 00:18:09,520 Speaker 3: gonna buy popcorn, and this is a fun game to 424 00:18:09,560 --> 00:18:12,040 Speaker 3: get me more engaged and do this. So I think 425 00:18:12,080 --> 00:18:14,119 Speaker 3: our challenge, and you know, we say this lot is 426 00:18:14,320 --> 00:18:17,520 Speaker 3: there's too many things. We just talked about driving range, 427 00:18:17,920 --> 00:18:20,399 Speaker 3: Dave and Busters movie tickets in like three minutes, and 428 00:18:20,440 --> 00:18:22,080 Speaker 3: so our challenge is how do we figure out where 429 00:18:22,119 --> 00:18:22,520 Speaker 3: to focus? 430 00:18:22,600 --> 00:18:22,719 Speaker 4: Right? 431 00:18:22,760 --> 00:18:24,640 Speaker 3: Like, there's so many things that people are competing on. 432 00:18:24,960 --> 00:18:25,800 Speaker 2: So that's challenge. 433 00:18:26,359 --> 00:18:29,880 Speaker 8: I can see this down the road one day. Yes, 434 00:18:29,920 --> 00:18:32,439 Speaker 8: I mean, of course there's Dave and Busters and the gaming. 435 00:18:32,480 --> 00:18:34,960 Speaker 8: But let's say, for instance, you went to a department 436 00:18:34,960 --> 00:18:38,200 Speaker 8: store and they got a section where they have like 437 00:18:38,280 --> 00:18:41,400 Speaker 8: a pinball machine or something, and then you apply this 438 00:18:41,560 --> 00:18:45,160 Speaker 8: app to this to where you say, okay, you can 439 00:18:45,200 --> 00:18:47,560 Speaker 8: get ten percent off of socks or something like that. 440 00:18:47,560 --> 00:18:49,359 Speaker 3: I mean, I got to call up Home Depot after this, Michael, 441 00:18:49,400 --> 00:18:50,920 Speaker 3: I gotta say, Depot, I want to you know, why 442 00:18:50,960 --> 00:18:52,320 Speaker 3: not get in there and have a little. 443 00:18:53,800 --> 00:18:56,320 Speaker 2: Yes, ye, you're right, You're right. 444 00:18:56,359 --> 00:18:58,639 Speaker 3: It extends broadly. I mean what about mini games, you know, 445 00:18:58,720 --> 00:19:01,040 Speaker 3: lay Angry Birds on your iPhone or candy Crush, like 446 00:19:01,080 --> 00:19:03,639 Speaker 3: I mean, yeah, we're rocking our brains on where to 447 00:19:03,640 --> 00:19:04,240 Speaker 3: focus our time. 448 00:19:04,240 --> 00:19:04,560 Speaker 4: I love it. 449 00:19:04,600 --> 00:19:06,040 Speaker 10: This is your new focus group. 450 00:19:06,240 --> 00:19:07,040 Speaker 2: Yeah, I mean we got it. 451 00:19:07,040 --> 00:19:09,800 Speaker 3: We got to go have some some beers afterwards and 452 00:19:10,000 --> 00:19:11,159 Speaker 3: figure out the next big thing. 453 00:19:11,400 --> 00:19:16,400 Speaker 8: Oh, we can have beers anytime. Dylan Robbins, CEO Lucras Sports. 454 00:19:16,640 --> 00:19:18,520 Speaker 8: What a need o idea? Man? 455 00:19:18,640 --> 00:19:20,199 Speaker 2: Thanks, I really do appreciate it. 456 00:19:20,200 --> 00:19:21,719 Speaker 3: Thank you for coming, Thanks for having me a lot 457 00:19:21,720 --> 00:19:23,399 Speaker 3: of fun, Thanks for being having me up. 458 00:19:23,440 --> 00:19:27,240 Speaker 8: Next, we turned to boxing with Top Rank president Todd 459 00:19:27,280 --> 00:19:30,439 Speaker 8: the Buff for my colleague Scarlett Food, Damien Saasaur, and 460 00:19:30,520 --> 00:19:35,360 Speaker 8: Bloomberg Original Sports correspondent Vanessa Perdomo. I'm Michael Barr. You're 461 00:19:35,400 --> 00:19:39,760 Speaker 8: listening to Bloomberg Business of Sports from Bloomberger Radio. Around 462 00:19:39,800 --> 00:19:50,520 Speaker 8: the world, You're listening to Bloomberg Business of Sports from 463 00:19:50,600 --> 00:19:54,639 Speaker 8: Bloomberg Radio. This is the Bloomberg Business of Sports who 464 00:19:54,680 --> 00:19:56,399 Speaker 8: we explored the big money issues in the world of 465 00:19:56,400 --> 00:20:00,640 Speaker 8: sports on Michael Barr along with Damien Zasaur and special 466 00:20:00,680 --> 00:20:03,719 Speaker 8: guest host for Vanessa Bernomo. Scarlet Fu will join us 467 00:20:03,800 --> 00:20:06,560 Speaker 8: a little later in the program. Let's talk some boxing. 468 00:20:06,760 --> 00:20:09,560 Speaker 8: Top Rank is working to get more eyes on the sport. 469 00:20:09,840 --> 00:20:14,600 Speaker 8: They partnered with ESPN on a new original streaming series, 470 00:20:14,800 --> 00:20:17,639 Speaker 8: and here to talk about that new show and more 471 00:20:18,080 --> 00:20:21,520 Speaker 8: is Top Rank President todd to Buff todd Man. Welcome 472 00:20:21,520 --> 00:20:23,199 Speaker 8: to the Bloomberg Business of Sports. 473 00:20:23,720 --> 00:20:26,320 Speaker 4: It's great being on again. I love love chatting with 474 00:20:26,359 --> 00:20:28,679 Speaker 4: you guys, and you guys taking me on a journey 475 00:20:28,680 --> 00:20:31,240 Speaker 4: see what's going on in our on our business. And 476 00:20:31,359 --> 00:20:32,960 Speaker 4: we do have a name for that show. It's called 477 00:20:33,119 --> 00:20:34,760 Speaker 4: The Fight lif Fight. 478 00:20:37,240 --> 00:20:39,479 Speaker 8: Well, hey, tell us about first of all, you know, 479 00:20:39,680 --> 00:20:42,400 Speaker 8: there's been some advances since the last time we talked 480 00:20:42,400 --> 00:20:45,840 Speaker 8: to you on the show, and the biggest thing that 481 00:20:45,960 --> 00:20:49,200 Speaker 8: I see is that the growth of women boxing. 482 00:20:51,080 --> 00:20:54,760 Speaker 4: You know, that's that's been It's amazing what happened with this. 483 00:20:55,119 --> 00:20:59,200 Speaker 4: And you know, I really give a lot of credit 484 00:20:59,280 --> 00:21:03,960 Speaker 4: to Ronda Rapp. See in the UFC years ago, two 485 00:21:04,080 --> 00:21:07,720 Speaker 4: decades ago, you saw Christy Martin come in with like 486 00:21:07,800 --> 00:21:10,560 Speaker 4: an issue was more of a you know, a digression 487 00:21:10,600 --> 00:21:12,879 Speaker 4: from a Mike Tyson fight, and we all kind of 488 00:21:12,880 --> 00:21:17,040 Speaker 4: played in it. Then Ronda Rousey really just opened up 489 00:21:17,080 --> 00:21:20,399 Speaker 4: the eye, opened up the category for all combat sports 490 00:21:20,440 --> 00:21:24,399 Speaker 4: and women. And then simultaneously then Katie Taylor winning the 491 00:21:24,400 --> 00:21:28,520 Speaker 4: gold medal in London in the Olympics. Back then it 492 00:21:28,600 --> 00:21:31,280 Speaker 4: really started to explode, and it really exploded in Europe. 493 00:21:31,800 --> 00:21:35,200 Speaker 4: US came later, and now we're just seeing the benefits 494 00:21:35,240 --> 00:21:39,320 Speaker 4: of that. Mikayla mayor Snisia Estrada, we're both under our banner, 495 00:21:39,800 --> 00:21:43,119 Speaker 4: and uh we did a phenomenal rating with you know, 496 00:21:43,480 --> 00:21:47,760 Speaker 4: with Mikayla and Sandy Ryan the other night. We did 497 00:21:47,840 --> 00:21:50,800 Speaker 4: just under a million viewers average for two hours, which 498 00:21:50,880 --> 00:21:54,520 Speaker 4: was fantastic in a terrific fight. So women's boxing is great, 499 00:21:54,600 --> 00:21:57,280 Speaker 4: the personalities are great, and it's gonna be It's going 500 00:21:57,359 --> 00:21:58,200 Speaker 4: to be around for a while. 501 00:21:58,520 --> 00:22:00,679 Speaker 11: All right, Todd, enough of this. Talk to me about 502 00:22:00,960 --> 00:22:05,320 Speaker 11: the Fight Life, your partnership with ESPN, your original streaming program. 503 00:22:05,440 --> 00:22:07,360 Speaker 11: I think it just began earlier this month. I think 504 00:22:07,400 --> 00:22:09,719 Speaker 11: you've got a number of people like Tyson Fury. You're 505 00:22:09,760 --> 00:22:11,760 Speaker 11: going to follow their lives. I mean, you know, I 506 00:22:11,800 --> 00:22:14,000 Speaker 11: often ask our guests, you know what stories and sports 507 00:22:14,040 --> 00:22:15,560 Speaker 11: haven't been told yet? You know, you look at the 508 00:22:15,640 --> 00:22:18,560 Speaker 11: last dance winning time, Drive to Survive. Talk to us 509 00:22:18,560 --> 00:22:19,920 Speaker 11: about the fight life. 510 00:22:20,160 --> 00:22:21,639 Speaker 4: You know, the fight life is a little bit of 511 00:22:21,680 --> 00:22:25,119 Speaker 4: it is, you know, and I like to like, you know, 512 00:22:25,520 --> 00:22:28,000 Speaker 4: like to give credit where credit is due, and I 513 00:22:28,000 --> 00:22:33,120 Speaker 4: think Drive to Survive created a different product and being 514 00:22:33,160 --> 00:22:36,440 Speaker 4: at the forefront of you know, always doing these countdown 515 00:22:36,440 --> 00:22:39,679 Speaker 4: shows twenty four sevens, leading the viewer and leading you 516 00:22:39,720 --> 00:22:42,199 Speaker 4: guys to go, I want to watch this show. I 517 00:22:42,240 --> 00:22:44,720 Speaker 4: want to watch this fight on this night, you know, 518 00:22:44,760 --> 00:22:47,600 Speaker 4: appointment television. That's what we were kind of you know, 519 00:22:47,720 --> 00:22:51,600 Speaker 4: dialed into. But what we didn't do was preally talk 520 00:22:51,640 --> 00:22:54,840 Speaker 4: about the entire ecosystem of that of all. So it 521 00:22:54,880 --> 00:22:58,119 Speaker 4: wasn't so Fighter Cedric or Ben Cedric, but it was 522 00:22:58,200 --> 00:23:01,520 Speaker 4: all about the ecosystem out this global sport that he 523 00:23:01,600 --> 00:23:04,440 Speaker 4: was intertwined throughout the world. So what we did was 524 00:23:04,800 --> 00:23:07,800 Speaker 4: we had words and pictures that was obviously very much 525 00:23:07,840 --> 00:23:11,120 Speaker 4: involved in you know, the Last Dance and Connor Show 526 00:23:11,200 --> 00:23:14,840 Speaker 4: and Darn Cohn are just incredible and you know, and 527 00:23:14,960 --> 00:23:17,800 Speaker 4: and they basically we did was we took a snapshot 528 00:23:17,840 --> 00:23:20,240 Speaker 4: of a year, and they followed us for a year, 529 00:23:20,720 --> 00:23:23,720 Speaker 4: and they followed from my matchmakers, from the gym the 530 00:23:23,760 --> 00:23:26,000 Speaker 4: guy opening up a gym at five in the morning 531 00:23:26,040 --> 00:23:30,840 Speaker 4: and in Belfast, Ireland, to somebody closing a gym at 532 00:23:30,840 --> 00:23:34,520 Speaker 4: eight o'clock at night in Tokyo, right. It's it's the 533 00:23:34,520 --> 00:23:38,280 Speaker 4: world that we live in and that ecosystem, and we 534 00:23:38,359 --> 00:23:41,040 Speaker 4: all go to these events and we were in it 535 00:23:41,160 --> 00:23:46,360 Speaker 4: follows from Saudi Arabia with Fury for Fury and you sick, 536 00:23:46,640 --> 00:23:48,639 Speaker 4: and then you have Tia Femo and Josh Taylor and 537 00:23:48,640 --> 00:23:51,120 Speaker 4: Snisia and you end with you know, in a way 538 00:23:51,160 --> 00:23:54,600 Speaker 4: in Japan at fifty five thousand people at the Tokyo Dome. 539 00:23:55,160 --> 00:23:57,760 Speaker 4: It's all about everything that goes involved. It goes about 540 00:23:57,800 --> 00:24:01,080 Speaker 4: the matchmaking, what we deal with if fighter gets arrested 541 00:24:01,200 --> 00:24:03,640 Speaker 4: or they misweight, the lives that we have to deal 542 00:24:03,720 --> 00:24:05,639 Speaker 4: Are they going to make weight? And we wanted to 543 00:24:05,680 --> 00:24:09,080 Speaker 4: give people a different perspective and that's what this program 544 00:24:09,160 --> 00:24:13,280 Speaker 4: did and it's been wonderfully received. And I'm really it's 545 00:24:13,359 --> 00:24:15,800 Speaker 4: kind of weird having a camera follow you everywhere and 546 00:24:15,880 --> 00:24:17,639 Speaker 4: be a part of your life. I'm usually putting it 547 00:24:17,680 --> 00:24:19,879 Speaker 4: on the athletes, but I think I'm it's kind of 548 00:24:20,000 --> 00:24:21,200 Speaker 4: it's been fun for us. 549 00:24:21,640 --> 00:24:25,960 Speaker 8: You mentioned Saudi Arabia, which is another big growth in 550 00:24:26,000 --> 00:24:31,200 Speaker 8: the sport with Saudi money coming in, the Saudi influence 551 00:24:31,280 --> 00:24:33,919 Speaker 8: coming in. Where do you see it going? 552 00:24:34,119 --> 00:24:34,280 Speaker 4: Is it? 553 00:24:35,280 --> 00:24:37,480 Speaker 8: Let me let me put it bluntly, could it become 554 00:24:37,760 --> 00:24:39,680 Speaker 8: a PGA live situation. 555 00:24:40,680 --> 00:24:45,880 Speaker 4: You know, that's a complicated situation, and you know, I'm 556 00:24:45,880 --> 00:24:49,520 Speaker 4: not exactly sure how that's that is going to play out. 557 00:24:49,640 --> 00:24:54,320 Speaker 4: It seems like there's a you know, their adversarial and 558 00:24:54,400 --> 00:24:57,520 Speaker 4: I would hope that that doesn't occur in what they're 559 00:24:57,600 --> 00:25:00,320 Speaker 4: doing in combat sports. So let's let's let's to not 560 00:25:00,359 --> 00:25:04,240 Speaker 4: look just at boxing, because they were hosting PFL which 561 00:25:04,320 --> 00:25:07,719 Speaker 4: was in Ghanu just fought there. They have an investment 562 00:25:07,960 --> 00:25:11,560 Speaker 4: in PFL. They you saw that the Saudi's did a 563 00:25:11,560 --> 00:25:15,360 Speaker 4: big sponsorship package with the UFCS for the Sphere when 564 00:25:15,400 --> 00:25:19,399 Speaker 4: they did their event at the Sphere. You see that 565 00:25:19,400 --> 00:25:22,720 Speaker 4: they're they're hosting boxing contests. So I think they they're 566 00:25:22,800 --> 00:25:26,199 Speaker 4: very interested in combat sport and I think you know 567 00:25:26,280 --> 00:25:28,119 Speaker 4: how they receive that and how they want to Like 568 00:25:28,119 --> 00:25:30,520 Speaker 4: I think we've talked about it before. Do they want 569 00:25:30,560 --> 00:25:34,840 Speaker 4: to activate their country to be an entertainment capital, a 570 00:25:34,880 --> 00:25:36,959 Speaker 4: place where you can get all these great events, And 571 00:25:37,000 --> 00:25:39,920 Speaker 4: they're using the reat season to do that. So right 572 00:25:39,960 --> 00:25:43,160 Speaker 4: now I see it. You know, there working very well 573 00:25:43,200 --> 00:25:46,439 Speaker 4: with content holders, being very friendly in that. I'm the 574 00:25:46,520 --> 00:25:50,479 Speaker 4: LIVEPGA thing I think has been a little adversarial as 575 00:25:50,800 --> 00:25:54,640 Speaker 4: is only not from personal parents knowledge, but only from 576 00:25:54,640 --> 00:25:58,880 Speaker 4: what we've seen and reported. But I think the trajectory 577 00:25:58,920 --> 00:26:01,119 Speaker 4: that the relationship is on on in the combat space 578 00:26:01,400 --> 00:26:03,159 Speaker 4: seems to be at the right path where they're going 579 00:26:03,200 --> 00:26:07,080 Speaker 4: to get big events to activate their country and bring attention, 580 00:26:07,200 --> 00:26:10,000 Speaker 4: similar to what Las Vegas did a half a century ago. 581 00:26:11,359 --> 00:26:14,240 Speaker 10: You know, when we're talking about the fight life earlier. 582 00:26:14,520 --> 00:26:16,639 Speaker 10: It's funny to me because when I think about the 583 00:26:16,680 --> 00:26:18,840 Speaker 10: way that sports needs to be marketed, and a few 584 00:26:18,920 --> 00:26:22,160 Speaker 10: years ago, it was, oh, every league, every team, every 585 00:26:22,200 --> 00:26:25,040 Speaker 10: player needs to get on social media and that's how 586 00:26:25,080 --> 00:26:27,520 Speaker 10: you find new fans and that's how you interact with people. 587 00:26:27,920 --> 00:26:29,960 Speaker 10: But now, I mean you mentioned a drive to survive 588 00:26:30,080 --> 00:26:34,720 Speaker 10: kind of changed this game in the way of sports documentaries. 589 00:26:35,000 --> 00:26:37,439 Speaker 10: Do you feel that now if you don't have a 590 00:26:37,520 --> 00:26:40,159 Speaker 10: behind the scenes documentary, you're kind of missing out on 591 00:26:40,200 --> 00:26:41,399 Speaker 10: this new engagement of fans. 592 00:26:41,800 --> 00:26:44,199 Speaker 4: Well, I think it's I think it's complementary, and I 593 00:26:44,240 --> 00:26:46,359 Speaker 4: think what you have to do is be able to 594 00:26:46,400 --> 00:26:50,800 Speaker 4: play all of these avenues and touch points. Our audience 595 00:26:50,880 --> 00:26:54,200 Speaker 4: is unlimited now with the way our reach right, we 596 00:26:54,520 --> 00:26:58,280 Speaker 4: can get people, our TikTok audience is different than our 597 00:26:58,520 --> 00:27:02,760 Speaker 4: ESPN Plus audience or p and linear audience as is. 598 00:27:03,040 --> 00:27:05,760 Speaker 4: You know, even the Netflix audience is so much different. 599 00:27:05,840 --> 00:27:09,000 Speaker 4: For Driver, was different for Formula One than the ESPN 600 00:27:09,080 --> 00:27:14,080 Speaker 4: Linear audience. And that's what created that big ratings boost 601 00:27:14,119 --> 00:27:18,080 Speaker 4: in the increase in their viewership, was they hit Formula one, 602 00:27:18,160 --> 00:27:20,920 Speaker 4: hit a category of people that became fans that were 603 00:27:20,960 --> 00:27:24,800 Speaker 4: just consuming the content on a totally different platform, and 604 00:27:24,880 --> 00:27:27,919 Speaker 4: shifted them over to watch on Sundays when they were racing. 605 00:27:28,280 --> 00:27:31,600 Speaker 4: And I think that's what we have to do as 606 00:27:31,600 --> 00:27:34,680 Speaker 4: a content holders in sports, and I mean in everything now, 607 00:27:34,960 --> 00:27:38,280 Speaker 4: is you have to use all these different avenues to 608 00:27:38,280 --> 00:27:41,800 Speaker 4: touch fans and if it's the gen Z audience that's 609 00:27:42,600 --> 00:27:46,400 Speaker 4: dialed into TikTok or the YouTubers, we have to do 610 00:27:46,600 --> 00:27:49,080 Speaker 4: all of it and touch as many as possible to 611 00:27:49,119 --> 00:27:50,200 Speaker 4: help keep growing the sport. 612 00:27:50,640 --> 00:27:51,920 Speaker 11: You know, Todd, I just want to ask you one 613 00:27:51,960 --> 00:27:53,840 Speaker 11: question here while we have you. It's been fifty years 614 00:27:53,880 --> 00:27:56,320 Speaker 11: since the Rumble in the Jungle. You mentioned Don King, 615 00:27:56,520 --> 00:27:59,119 Speaker 11: and you know I caught an I think it was 616 00:27:59,200 --> 00:28:02,880 Speaker 11: a an interview you'd done with The Daily Mail over 617 00:28:02,880 --> 00:28:05,399 Speaker 11: the summer earlier this year, and you know you were 618 00:28:05,400 --> 00:28:08,280 Speaker 11: talking about having a bit of shame with respect to 619 00:28:08,359 --> 00:28:10,119 Speaker 11: being a promoter in boxing, and I just want you 620 00:28:10,200 --> 00:28:11,959 Speaker 11: to flesh that out for our audience a little bit. 621 00:28:12,000 --> 00:28:14,680 Speaker 11: I mean, is that sort of grounded in some of 622 00:28:14,720 --> 00:28:17,800 Speaker 11: the things we've heard about Don King, the Kingmaker, or 623 00:28:18,000 --> 00:28:19,720 Speaker 11: I mean some of the things that you've seen in 624 00:28:19,760 --> 00:28:22,359 Speaker 11: the business over your career that kind of gives you 625 00:28:22,440 --> 00:28:25,280 Speaker 11: that sort of that shameful feeling. If there is such 626 00:28:25,280 --> 00:28:25,720 Speaker 11: a thing. 627 00:28:26,240 --> 00:28:30,879 Speaker 4: Well, I mean it's perception. It's not reality, right, I 628 00:28:30,920 --> 00:28:34,800 Speaker 4: think in today's world, it's perception not reality. And that 629 00:28:34,960 --> 00:28:37,760 Speaker 4: was the shame I was referring to, right, And it 630 00:28:37,840 --> 00:28:39,960 Speaker 4: was like all the good and all the stuff that 631 00:28:40,400 --> 00:28:42,720 Speaker 4: I wanted to do for the sport, I always felt 632 00:28:42,760 --> 00:28:47,120 Speaker 4: like there was this patina that was negatively put on 633 00:28:47,160 --> 00:28:49,960 Speaker 4: me because I was in part of a category that 634 00:28:50,000 --> 00:28:53,600 Speaker 4: had been categorized as rogue and the wild West and 635 00:28:53,640 --> 00:28:57,080 Speaker 4: things like that. So the shame was, you know, were 636 00:28:57,080 --> 00:28:59,680 Speaker 4: the people before me? Right? The people? The way the 637 00:28:59,720 --> 00:29:02,840 Speaker 4: business operated it was unregulated and it's not don It 638 00:29:02,840 --> 00:29:05,680 Speaker 4: goes even before Don King when they say, you know, 639 00:29:05,760 --> 00:29:08,280 Speaker 4: the mafia was involved it in New York in the 640 00:29:08,320 --> 00:29:11,479 Speaker 4: old days with Roy Cohne and Carbon the manager, all 641 00:29:11,480 --> 00:29:15,760 Speaker 4: that kind of stuff. So I think that was my issue. 642 00:29:15,480 --> 00:29:18,280 Speaker 10: And so the word promoter is that it right then 643 00:29:18,400 --> 00:29:21,360 Speaker 10: you say it in the life, right, that's you don't 644 00:29:21,400 --> 00:29:23,200 Speaker 10: really love that connotation. 645 00:29:23,560 --> 00:29:26,840 Speaker 4: I don't. I don't. I don't, And because when I 646 00:29:26,840 --> 00:29:29,520 Speaker 4: say that, I feel there's a negative connotation to it. 647 00:29:29,880 --> 00:29:33,240 Speaker 4: And when I when I go and have it, I'll 648 00:29:33,280 --> 00:29:35,360 Speaker 4: be having dinner with people and they ask me what 649 00:29:35,440 --> 00:29:38,040 Speaker 4: I do. I say, I'm a promoter, and they kind 650 00:29:38,040 --> 00:29:40,480 Speaker 4: of all give me a cringe, like what is that? 651 00:29:40,800 --> 00:29:44,160 Speaker 4: And then when I actually think about what I am, 652 00:29:43,960 --> 00:29:48,680 Speaker 4: I'm a producer, right, I'm you know, I'm a producer 653 00:29:48,840 --> 00:29:53,880 Speaker 4: of live sports in the boxing category for a global universe. Right, 654 00:29:54,160 --> 00:29:58,320 Speaker 4: That's really what I am. But the way the shame 655 00:29:58,400 --> 00:30:05,280 Speaker 4: is associated with the word because you know, movies, television, shows, writers, everybody, 656 00:30:05,320 --> 00:30:10,120 Speaker 4: the media has chronicled for fifty years all this stuff 657 00:30:10,120 --> 00:30:12,480 Speaker 4: that has gone on, and they've kind of made this 658 00:30:12,720 --> 00:30:16,280 Speaker 4: the tip of the spear be the promoter. And that's 659 00:30:16,320 --> 00:30:19,080 Speaker 4: been the hard part. But I think, you know, I 660 00:30:19,120 --> 00:30:22,800 Speaker 4: think people are understanding and we're differentiating ourselves and and 661 00:30:22,880 --> 00:30:26,000 Speaker 4: I've been fortunately being able to differentiate. You know what 662 00:30:26,080 --> 00:30:28,360 Speaker 4: I want to do for the sport differently than what 663 00:30:28,440 --> 00:30:29,920 Speaker 4: it was, and I think we're doing a really good 664 00:30:30,000 --> 00:30:33,640 Speaker 4: job with that. But I can't do anything about what 665 00:30:33,880 --> 00:30:37,720 Speaker 4: people represent, or they think the word promoter represents. 666 00:30:38,160 --> 00:30:38,440 Speaker 2: Todd. 667 00:30:38,480 --> 00:30:41,560 Speaker 11: Every story with a hero needs a bad guy, and 668 00:30:41,640 --> 00:30:42,680 Speaker 11: unfortunately you're it. 669 00:30:43,680 --> 00:30:47,480 Speaker 4: See wait, wait, wait till you go head down on 670 00:30:47,520 --> 00:30:53,680 Speaker 4: that New York marathon. I'll be the promoter on that New. 671 00:30:53,680 --> 00:30:57,320 Speaker 2: York I'm going to be. 672 00:30:57,560 --> 00:31:00,320 Speaker 4: You want to see the bad guy? Come up, Buddy. 673 00:31:02,200 --> 00:31:11,200 Speaker 8: Todd, the buff promoter for Damian sas hour running Man. 674 00:31:09,560 --> 00:31:11,400 Speaker 4: I'm gonna tie those laces together. 675 00:31:12,920 --> 00:31:15,680 Speaker 10: There's gonna be some random traffic cones in your way. 676 00:31:17,600 --> 00:31:20,600 Speaker 2: You'll be coming next week? Is like, dang, Damien, you 677 00:31:20,600 --> 00:31:21,760 Speaker 2: didn't even get out to team. 678 00:31:26,640 --> 00:31:31,680 Speaker 4: Better check your water, Buddy, grab my water bottle. I 679 00:31:31,720 --> 00:31:32,280 Speaker 4: got your cover. 680 00:31:32,400 --> 00:31:38,720 Speaker 8: Buddy oh Man, president of Top Rank, you are the man. 681 00:31:38,920 --> 00:31:41,959 Speaker 8: Thank you Todd for joining us on the Bloomberg Business 682 00:31:41,960 --> 00:31:43,560 Speaker 8: of Sports. We appreciate it, Buddy. 683 00:31:43,800 --> 00:31:46,160 Speaker 4: Great having you guys, you know, listen to me and 684 00:31:46,880 --> 00:31:49,160 Speaker 4: be a big fan of the sport. I love it 685 00:31:49,200 --> 00:31:51,000 Speaker 4: and I love your support. I really appreciate it. 686 00:31:51,080 --> 00:31:54,520 Speaker 8: We love you. Man up next Boston Celtics lead owner 687 00:31:54,600 --> 00:31:57,480 Speaker 8: and governor Wick Grosspeck joined us on the show to 688 00:31:57,600 --> 00:31:59,840 Speaker 8: talk about his growing venture with his wife and his 689 00:32:00,200 --> 00:32:02,760 Speaker 8: partner in the spirits industry. 690 00:32:03,000 --> 00:32:06,520 Speaker 9: We've won two million, two and a half million bottles sold. 691 00:32:06,920 --> 00:32:09,560 Speaker 9: We've won over a lot of people to be to 692 00:32:09,640 --> 00:32:12,880 Speaker 9: Quilla drinkers and specifically Sincorna and drinkers, even if they 693 00:32:12,880 --> 00:32:15,720 Speaker 9: weren't coming to that day or that time of night, 694 00:32:16,280 --> 00:32:18,560 Speaker 9: they planning to drink tequila. They take a taste of 695 00:32:18,600 --> 00:32:20,920 Speaker 9: Saint Curla. It's really really, very very special. So we're 696 00:32:21,000 --> 00:32:23,280 Speaker 9: proud of it and try to do things right, and 697 00:32:23,600 --> 00:32:24,840 Speaker 9: it really feels like we've done it. 698 00:32:24,880 --> 00:32:28,800 Speaker 8: With Inclora from my colleagues Damian Sasaur, Scarlet Foo and 699 00:32:28,880 --> 00:32:32,640 Speaker 8: Vanessa Bernomo of Bloomberg Originals, I'm Michael Barr. You're listening 700 00:32:32,680 --> 00:32:36,560 Speaker 8: to Bloomberg Business of Sports from Bloomberger Radio a bround 701 00:32:36,640 --> 00:32:43,920 Speaker 8: the world. Thanks for joining us on the Bloomberg Business 702 00:32:43,920 --> 00:32:46,200 Speaker 8: of Sports, where we explored the big money issues in 703 00:32:46,240 --> 00:32:49,560 Speaker 8: the world of sports. Michael Barr along with Scarlet Foo 704 00:32:49,720 --> 00:32:54,120 Speaker 8: and Damien Zasaur. Well, well, well, well, well we got 705 00:32:54,160 --> 00:32:57,760 Speaker 8: some stuff to talk about. We have the lead owner 706 00:32:57,800 --> 00:33:02,400 Speaker 8: and governor of the Boston Celtics, which is Wick Grossback. 707 00:33:02,720 --> 00:33:09,320 Speaker 8: And and we also have Cincoro tequila co founder and 708 00:33:09,520 --> 00:33:14,200 Speaker 8: executive chairperson. Say they know each other. Emelia Fazolari, thank 709 00:33:14,240 --> 00:33:17,640 Speaker 8: you both for joining us on the Bloomberg Businesses Sports. 710 00:33:17,400 --> 00:33:18,080 Speaker 12: Happy to be here. 711 00:33:18,120 --> 00:33:19,280 Speaker 9: We're glad to be here. Thank you. 712 00:33:19,560 --> 00:33:24,000 Speaker 8: So let's start with tequila. I am I want to 713 00:33:24,040 --> 00:33:26,760 Speaker 8: talk about this. Now you got this is this is 714 00:33:26,800 --> 00:33:29,400 Speaker 8: some pretty high end stuff. This is top shelf stuff. 715 00:33:29,400 --> 00:33:30,320 Speaker 8: Here's am I right? 716 00:33:30,320 --> 00:33:36,200 Speaker 5: Ameilia on it is top notch and delicious. 717 00:33:36,720 --> 00:33:38,840 Speaker 12: Yeah, and I can't wait for you to try it. 718 00:33:38,880 --> 00:33:42,240 Speaker 8: Michael, Oh, don't you worry. I'll be sampling it all 719 00:33:42,280 --> 00:33:47,880 Speaker 8: over the place. Man. Missus barcan't have any. 720 00:33:46,080 --> 00:33:50,240 Speaker 11: So Amelia take us through Sincoro, the five founders how 721 00:33:50,280 --> 00:33:51,480 Speaker 11: it came into being. 722 00:33:52,720 --> 00:33:54,480 Speaker 12: Sure. So it all started. 723 00:33:54,800 --> 00:33:59,520 Speaker 5: It was one summer night in twenty sixteen when my 724 00:33:59,680 --> 00:34:02,800 Speaker 5: now now partners and I decided to get together for dinner. 725 00:34:03,400 --> 00:34:07,520 Speaker 5: And my partners are my husband, Wick Grossback, Michael Jordan, 726 00:34:07,600 --> 00:34:11,320 Speaker 5: who owned the Charlotte Hornets at the time, Jennie Buss, 727 00:34:11,680 --> 00:34:15,120 Speaker 5: owner of the Los Angeles Lakers, West Seden's owner of 728 00:34:15,160 --> 00:34:20,200 Speaker 5: the Milwaukee Bucks, and so here we were representing four 729 00:34:20,320 --> 00:34:24,080 Speaker 5: NBA teams, got together for dinner and something pretty magical 730 00:34:24,080 --> 00:34:28,040 Speaker 5: happened that night. We bonded as friends and it was 731 00:34:28,120 --> 00:34:32,080 Speaker 5: all over tequila, and we started talking about how much 732 00:34:32,120 --> 00:34:34,080 Speaker 5: we all love tequila, and we had this shared love 733 00:34:34,120 --> 00:34:37,719 Speaker 5: for it, and and we started to talk about what 734 00:34:37,800 --> 00:34:41,960 Speaker 5: we wanted in a tequila. We wanted something that was 735 00:34:42,080 --> 00:34:45,040 Speaker 5: really delicious and it's it's not a word you use 736 00:34:45,120 --> 00:34:48,759 Speaker 5: to describe tequila normally, and we started talking about how 737 00:34:49,440 --> 00:34:52,600 Speaker 5: great it would be if there was a tequila that 738 00:34:52,880 --> 00:34:55,960 Speaker 5: was super smooth and had a long, beautiful finish, like 739 00:34:56,000 --> 00:35:00,759 Speaker 5: a fine cognac or a bourbon. And after that night, 740 00:35:00,840 --> 00:35:03,120 Speaker 5: we decided to get together for dinner again. It was 741 00:35:03,160 --> 00:35:05,600 Speaker 5: all around NBA Board of Governor meetings that were taking 742 00:35:05,600 --> 00:35:09,040 Speaker 5: place in New York. And so after several more dinners 743 00:35:09,239 --> 00:35:14,360 Speaker 5: and lots more tequila drinking, we decided create our own 744 00:35:15,040 --> 00:35:17,680 Speaker 5: and that it was going to be delicious and we 745 00:35:17,680 --> 00:35:21,000 Speaker 5: weren't going to stop until we created this incredible liquid. 746 00:35:21,120 --> 00:35:25,600 Speaker 12: And so that's really how it started. And it took 747 00:35:25,680 --> 00:35:26,360 Speaker 12: us three years. 748 00:35:26,400 --> 00:35:28,520 Speaker 5: That was, like I said, this summer of twenty sixteen, 749 00:35:28,560 --> 00:35:31,840 Speaker 5: we launched the company in twenty nineteen, and it was 750 00:35:31,880 --> 00:35:35,920 Speaker 5: because our focus was creating this delicious liquid and we 751 00:35:35,960 --> 00:35:41,000 Speaker 5: made a thousand tequilas in that timeframe and then we launched. 752 00:35:41,080 --> 00:35:42,239 Speaker 12: We had it, We nailed it. 753 00:35:43,239 --> 00:35:45,799 Speaker 1: That's a pretty incredible story and just topped by the 754 00:35:45,800 --> 00:35:49,560 Speaker 1: fact that it's competitors getting together to do this together. 755 00:35:50,280 --> 00:35:52,319 Speaker 1: Can you talk a little bit about how you plan 756 00:35:52,480 --> 00:35:55,800 Speaker 1: to leverage or what your original plan was to leverage 757 00:35:55,840 --> 00:35:59,759 Speaker 1: athletes and marketing this brand, because athletes or celebrities, and 758 00:36:00,200 --> 00:36:02,200 Speaker 1: it's just something that you know, there's a lot of 759 00:36:02,640 --> 00:36:03,760 Speaker 1: competition in the space. 760 00:36:05,160 --> 00:36:09,279 Speaker 5: Yeah, so that's a great question, Scarlett, And for us, 761 00:36:09,320 --> 00:36:14,640 Speaker 5: it was not about leveraging celebrity. But what's interesting is 762 00:36:14,719 --> 00:36:20,839 Speaker 5: the athlete mindset. And so you know, athletes work very 763 00:36:20,840 --> 00:36:24,640 Speaker 5: hard and always strive for greatness, and that is really 764 00:36:24,680 --> 00:36:26,200 Speaker 5: at the ethos of this brand. 765 00:36:26,560 --> 00:36:27,759 Speaker 12: It was our approach. 766 00:36:27,960 --> 00:36:30,880 Speaker 5: It was the sort of athlete mindset, if you will, 767 00:36:31,239 --> 00:36:34,480 Speaker 5: in the way we approached creating the liquid, creating the company. 768 00:36:34,880 --> 00:36:38,520 Speaker 5: And so you may hear about Cincoro because of the 769 00:36:38,520 --> 00:36:43,200 Speaker 5: incredible team that's involved, Michael Jordan. We've got Derek Jeter, 770 00:36:43,320 --> 00:36:50,239 Speaker 5: Serena Williams, and Michael Strahan, many people involved in you know, 771 00:36:50,480 --> 00:36:53,440 Speaker 5: part of the team. Now we've expanded it from the 772 00:36:53,480 --> 00:36:56,320 Speaker 5: five of us, and you may hear about the brand 773 00:36:56,400 --> 00:37:00,279 Speaker 5: because of a celebrity that's part of the team. But 774 00:37:00,400 --> 00:37:03,560 Speaker 5: you're going to buy your first bottle, your second bottle, 775 00:37:03,560 --> 00:37:07,320 Speaker 5: and hopefully cases thereafter because of the liquid and this bottle, 776 00:37:07,719 --> 00:37:09,200 Speaker 5: and that's what's really important to us. 777 00:37:09,400 --> 00:37:12,840 Speaker 8: Now. Of course, here's the disclaimer. Please drink responsibly, do 778 00:37:12,920 --> 00:37:15,520 Speaker 8: not drink and drive. Now when I take this home, 779 00:37:16,480 --> 00:37:20,400 Speaker 8: I can do whatever I want and enjoy a smooth 780 00:37:20,640 --> 00:37:24,960 Speaker 8: glass of this tequila, smooth, just like Namian and Scarlet. 781 00:37:25,600 --> 00:37:28,880 Speaker 8: I am impressed that you guys came up with this. 782 00:37:30,000 --> 00:37:33,040 Speaker 8: What is the process for people who don't know when 783 00:37:33,080 --> 00:37:35,160 Speaker 8: you make a tequila drink like this? 784 00:37:36,120 --> 00:37:38,880 Speaker 12: Well, thanks for asking. How sin Korra is made. 785 00:37:39,880 --> 00:37:42,759 Speaker 5: And that's really what makes Sincoro so special is that 786 00:37:42,800 --> 00:37:46,440 Speaker 5: we literally created this tequila over a three year period, 787 00:37:46,520 --> 00:37:49,279 Speaker 5: and it starts with the acave plant. We harvest only 788 00:37:49,320 --> 00:37:53,239 Speaker 5: the highest quality blue weber agave and we let it 789 00:37:53,320 --> 00:37:57,400 Speaker 5: mature so it's very very right and it has a 790 00:37:57,520 --> 00:38:01,040 Speaker 5: very natural high sugar content. All also harvest from a 791 00:38:01,120 --> 00:38:04,920 Speaker 5: very rugged terrain, and so the plant has to work 792 00:38:04,960 --> 00:38:08,560 Speaker 5: harder and it's a richer in flavor. When we make 793 00:38:08,600 --> 00:38:10,640 Speaker 5: the tequila, we've gone back to the basics and we 794 00:38:10,680 --> 00:38:13,440 Speaker 5: don't skip steps. We've in fact slowed down the process. 795 00:38:13,480 --> 00:38:15,760 Speaker 5: So we will cook and ferment for six days versus 796 00:38:15,760 --> 00:38:20,200 Speaker 5: two to retain the richness and sweet caramelized honey flavors 797 00:38:20,200 --> 00:38:24,000 Speaker 5: that we want. We will distill at a lower alcohol level, 798 00:38:24,040 --> 00:38:26,880 Speaker 5: which takes longer, but again allows the retention of the 799 00:38:26,880 --> 00:38:30,000 Speaker 5: flavor and the sweetness. And then we will barrel age 800 00:38:30,040 --> 00:38:34,320 Speaker 5: longer than this the tequila. We will baryl age longer 801 00:38:34,360 --> 00:38:38,560 Speaker 5: than the Tequila Regulatory Commission requires, and so it really 802 00:38:38,640 --> 00:38:42,200 Speaker 5: allows the liquid to be absorbed in the natural flavors 803 00:38:42,280 --> 00:38:46,320 Speaker 5: of the oak barrels. And that's what makes Sincoro so special. 804 00:38:46,400 --> 00:38:50,520 Speaker 5: It's the slow process, the artismal way that we've created 805 00:38:50,560 --> 00:38:51,680 Speaker 5: the tequila. 806 00:38:52,000 --> 00:38:54,760 Speaker 9: Well, the result is so I'm the one that doesn't 807 00:38:54,800 --> 00:38:59,680 Speaker 9: have the daily role running this company or anything like that, 808 00:38:59,760 --> 00:39:02,960 Speaker 9: but it's I like winning things. Sometimes you win, sometimes 809 00:39:03,040 --> 00:39:06,320 Speaker 9: you lose. We've won twenty nine medals now for Tequila 810 00:39:06,440 --> 00:39:10,680 Speaker 9: Yo for this or Cincorro family of Tequila's twenty nine 811 00:39:10,760 --> 00:39:14,600 Speaker 9: medals in the most prestigious spirits competitions in the world, 812 00:39:15,239 --> 00:39:18,240 Speaker 9: and we've won two million, two and a half million 813 00:39:18,280 --> 00:39:21,400 Speaker 9: bottles sold. We've won over a lot of people to 814 00:39:21,440 --> 00:39:25,319 Speaker 9: be tequila drinkers, and specifically Sincorna's drinkers. Even if they 815 00:39:25,320 --> 00:39:28,200 Speaker 9: weren't coming to that day or that time of night 816 00:39:28,920 --> 00:39:31,400 Speaker 9: planning to drink tequila, they take a taste of Sincura. 817 00:39:31,480 --> 00:39:33,719 Speaker 9: It's really really, very very special. So we're proud of 818 00:39:33,719 --> 00:39:36,319 Speaker 9: it and try to do things right. And it really 819 00:39:36,320 --> 00:39:37,719 Speaker 9: feels like we've done it with cin Coral. 820 00:39:37,880 --> 00:39:38,319 Speaker 2: You know, Wick. 821 00:39:38,360 --> 00:39:41,200 Speaker 11: I can hear George Clooney rolling his eyes now out 822 00:39:41,239 --> 00:39:44,360 Speaker 11: in Malibu, California. I mean, this is unbelievable stuff. But 823 00:39:44,400 --> 00:39:47,720 Speaker 11: you know what's interesting is your relationship with Amelia. I mean, Amelia, 824 00:39:47,760 --> 00:39:50,000 Speaker 11: you're ex Bloomberg, you know. I mean, this is unbelievable. 825 00:39:50,040 --> 00:39:51,719 Speaker 11: The story of how you guys met, how you guys 826 00:39:51,719 --> 00:39:55,040 Speaker 11: came into being here, so much so that NBC paid 827 00:39:55,080 --> 00:39:58,640 Speaker 11: to have a sitcom after your family. I mean, tell 828 00:39:58,719 --> 00:39:59,880 Speaker 11: us a little bit about it now. I know that 829 00:40:00,000 --> 00:40:01,840 Speaker 11: I know it was canceled after a short stint. I 830 00:40:01,920 --> 00:40:04,719 Speaker 11: mean probably that's because they had Donald Fasan playing Wick. 831 00:40:04,840 --> 00:40:07,000 Speaker 11: I mean, come on, I mean, it can't really capture 832 00:40:07,280 --> 00:40:09,480 Speaker 11: all the structure of the depth of Wick. But you know, 833 00:40:09,560 --> 00:40:11,359 Speaker 11: talk to us a little bit about the show, talk 834 00:40:11,400 --> 00:40:13,680 Speaker 11: to us a little bit about, you know, life outside 835 00:40:13,719 --> 00:40:16,400 Speaker 11: of sin Kora, life outside of the Celtics. 836 00:40:16,640 --> 00:40:23,279 Speaker 5: What was the question, Well, all right, so I did 837 00:40:23,320 --> 00:40:26,280 Speaker 5: work at Bloomberg. I loved my time at Bloomberg. In fact, 838 00:40:27,239 --> 00:40:31,440 Speaker 5: I was there twenty three years. And I really credit 839 00:40:31,560 --> 00:40:35,319 Speaker 5: being able to start Sincoro and have it take off 840 00:40:35,360 --> 00:40:37,840 Speaker 5: the way it did because of what I learned at Bloomberg. 841 00:40:38,480 --> 00:40:42,440 Speaker 12: And that's really it was. 842 00:40:42,400 --> 00:40:46,600 Speaker 9: A really great Michael, you know, one of the charities 843 00:40:46,680 --> 00:40:51,040 Speaker 9: that he supports heavily, very generous. You have become a 844 00:40:51,080 --> 00:40:53,279 Speaker 9: founding member of, a co founding member of and so 845 00:40:53,640 --> 00:40:56,440 Speaker 9: you're doing you're still doing things in the Berg. 846 00:40:56,680 --> 00:40:58,359 Speaker 12: Yes, orbit and it's a great thing. 847 00:40:58,400 --> 00:41:00,879 Speaker 5: And it's really special for me personally to be now 848 00:41:00,960 --> 00:41:02,040 Speaker 5: on Bloomberg Radio. 849 00:41:02,280 --> 00:41:04,560 Speaker 12: So my new roles for. 850 00:41:04,640 --> 00:41:07,480 Speaker 1: Having me we love it when he come full circle. 851 00:41:08,920 --> 00:41:13,040 Speaker 5: Really is a bit surreal. But so the question, I'll 852 00:41:13,280 --> 00:41:17,319 Speaker 5: I'll try to answer this one. So the way this 853 00:41:17,719 --> 00:41:23,640 Speaker 5: show happened is I was married, uh for nineteen years, 854 00:41:23,880 --> 00:41:27,920 Speaker 5: and he is he was born and raised in Boston. 855 00:41:28,400 --> 00:41:32,640 Speaker 5: My ex husband and really great guy. We're very close friends. 856 00:41:33,200 --> 00:41:36,680 Speaker 5: And when we got divorced, I don't think he expected 857 00:41:36,680 --> 00:41:39,239 Speaker 5: and nor did I expect, to meet the owner of 858 00:41:39,239 --> 00:41:46,040 Speaker 5: his favorite sports team and run Vegas an aloe and uh, 859 00:41:46,200 --> 00:41:47,880 Speaker 5: and so that was a little bit of a shocker. 860 00:41:48,200 --> 00:41:56,160 Speaker 5: And integrating our families became a sitcom in real life. 861 00:41:57,080 --> 00:41:59,920 Speaker 5: And my uh, my ex has an incredible sense of you, 862 00:42:00,840 --> 00:42:04,720 Speaker 5: and he keeps it all, he keeps it all delled 863 00:42:04,760 --> 00:42:07,839 Speaker 5: in a lot of fun and Wick thought it would 864 00:42:07,880 --> 00:42:11,440 Speaker 5: be really interesting to write this story, and so he 865 00:42:11,520 --> 00:42:16,040 Speaker 5: did and shared it with George and me, and we 866 00:42:16,080 --> 00:42:20,799 Speaker 5: all collaborated on the pilot and what do you know, 867 00:42:21,040 --> 00:42:24,040 Speaker 5: NBC decided to pick it up and we were the 868 00:42:24,040 --> 00:42:25,520 Speaker 5: executive people of the show. 869 00:42:26,080 --> 00:42:28,640 Speaker 11: Unbelievable, just an unbelievable story. And I mean, look, I 870 00:42:28,640 --> 00:42:31,239 Speaker 11: mean we, I mean I'm sorry, I mean Amelia, I'm 871 00:42:31,239 --> 00:42:32,839 Speaker 11: just gonna have to turn my attention to Wick here. 872 00:42:32,880 --> 00:42:34,879 Speaker 11: I mean, Wick, you've been awfully quiet over there, and 873 00:42:34,920 --> 00:42:37,000 Speaker 11: you know, I'm sitting here and I'm watching guys like 874 00:42:37,040 --> 00:42:39,840 Speaker 11: Peyton Pritchard throwing in twenty eight points, five rebounds and 875 00:42:39,840 --> 00:42:42,640 Speaker 11: three assists, for the Celtics against the Bucks. I mean, 876 00:42:42,640 --> 00:42:44,440 Speaker 11: this guy's a six man candidate of the year. I'm 877 00:42:44,440 --> 00:42:47,440 Speaker 11: seeing Tatum. He's shooting fifty percent from three point range. 878 00:42:47,600 --> 00:42:50,319 Speaker 11: You guys are passing out championship rings at home in 879 00:42:50,360 --> 00:42:53,040 Speaker 11: front of the Knicks. Talk to us about your defense 880 00:42:53,080 --> 00:42:55,440 Speaker 11: of the championship, what comes next for the Celtics. It's 881 00:42:55,440 --> 00:42:56,959 Speaker 11: such an exciting time for you and the team. 882 00:42:57,080 --> 00:42:59,160 Speaker 8: Don't worry Wick, he's snarky right now. 883 00:43:00,719 --> 00:43:03,800 Speaker 9: Thanks a lot, Damian. Well, if the video we're working 884 00:43:03,800 --> 00:43:05,359 Speaker 9: on this podcast, you'd be able to see the ring 885 00:43:05,440 --> 00:43:10,640 Speaker 9: right here. But let's say we were very worried about 886 00:43:10,640 --> 00:43:13,400 Speaker 9: the most respectful of the next They are coming for us, 887 00:43:13,440 --> 00:43:15,919 Speaker 9: for sure, they're coming for the league. They had rebuilt 888 00:43:16,200 --> 00:43:18,759 Speaker 9: and or added to their team, which was very strong 889 00:43:18,800 --> 00:43:20,560 Speaker 9: last year, and I mean this very sincerely. And we 890 00:43:20,600 --> 00:43:23,360 Speaker 9: knew they were sitting in that locker room that cramped 891 00:43:23,920 --> 00:43:27,720 Speaker 9: unpleasant sort of visiting locker room, like every NBA visiting 892 00:43:27,719 --> 00:43:29,719 Speaker 9: locker room, and they were cooped up in there while 893 00:43:29,719 --> 00:43:32,200 Speaker 9: we were having this big banner and ring celebration, and 894 00:43:32,239 --> 00:43:34,359 Speaker 9: then they came out and they came out hard. So 895 00:43:34,800 --> 00:43:37,160 Speaker 9: we got them that night. But there's three more games 896 00:43:37,160 --> 00:43:39,839 Speaker 9: to go and then maybe the playoffs. Tom Thibodeau, by 897 00:43:39,840 --> 00:43:42,640 Speaker 9: the way, the head coach, was our assistant head coach 898 00:43:42,680 --> 00:43:44,279 Speaker 9: in two thousand and eight. We want a ring to 899 00:43:44,960 --> 00:43:48,120 Speaker 9: Tims and I are neighbors out in the suburbs and 900 00:43:48,280 --> 00:43:51,840 Speaker 9: have dinner together occasionally. Were friendly rivals, just like Sincoros. 901 00:43:51,880 --> 00:43:53,000 Speaker 9: So it all works out in the end. 902 00:43:53,719 --> 00:43:57,640 Speaker 8: See. Now, I don't want anybody calling this show with this. 903 00:43:57,760 --> 00:44:01,080 Speaker 8: It's like you didn't ask them anything about the Boston 904 00:44:01,200 --> 00:44:04,160 Speaker 8: Celtics and the sale because they can't talk about the 905 00:44:04,239 --> 00:44:06,719 Speaker 8: sale right now. That's that's you. 906 00:44:06,600 --> 00:44:08,720 Speaker 1: Know, talks are ongoing. 907 00:44:08,800 --> 00:44:11,760 Speaker 8: They yeah, you don't discuss business at the dinner tape. 908 00:44:11,760 --> 00:44:12,399 Speaker 8: Now back to. 909 00:44:13,160 --> 00:44:17,160 Speaker 9: Giving just the brief update on what's going on. Out 910 00:44:17,200 --> 00:44:19,520 Speaker 9: of respect to Bloomberg and out of respect to you guys. 911 00:44:19,600 --> 00:44:21,680 Speaker 9: So if you'd like, I can give you, you know, 912 00:44:22,000 --> 00:44:25,239 Speaker 9: a short paragraph about so. Yeah, I just want to 913 00:44:25,280 --> 00:44:28,440 Speaker 9: be helpful if I can. So the process is ongoing, 914 00:44:29,360 --> 00:44:33,720 Speaker 9: and we have hired a couple of great bankers banking firms. 915 00:44:34,040 --> 00:44:36,200 Speaker 9: Mary Urdos is the lead over at JP Morgan for 916 00:44:36,280 --> 00:44:40,200 Speaker 9: US and Greg lemcow O Red BDT, two terrific well 917 00:44:40,239 --> 00:44:43,280 Speaker 9: known people. They're very enthusiastic about helping the Celtics find 918 00:44:43,320 --> 00:44:46,120 Speaker 9: their next home. It's been twenty two years for me. 919 00:44:46,239 --> 00:44:49,000 Speaker 9: I'm going to end up transitioning out after twenty five years, 920 00:44:49,120 --> 00:44:52,240 Speaker 9: is the plan. And so we're meeting people right now, 921 00:44:53,000 --> 00:44:55,239 Speaker 9: beginning the process, put a book together in a data 922 00:44:55,320 --> 00:44:57,080 Speaker 9: room and meeting buyers and there's been a lot of 923 00:44:57,080 --> 00:45:01,200 Speaker 9: interest actually from lots of some great people. So we're 924 00:45:02,360 --> 00:45:04,360 Speaker 9: just getting started, but the process is underway. 925 00:45:04,560 --> 00:45:04,919 Speaker 2: Well work. 926 00:45:04,960 --> 00:45:06,280 Speaker 11: I mean, does this mean you're going to be spending 927 00:45:06,320 --> 00:45:08,880 Speaker 11: more time. I know you have a sports and entertainment 928 00:45:08,880 --> 00:45:11,239 Speaker 11: focus that believe it's a private equity or VC from 929 00:45:11,280 --> 00:45:13,560 Speaker 11: of sorts called Causeway Media. I mean this has opened 930 00:45:13,600 --> 00:45:15,400 Speaker 11: up the door few to do some other things on 931 00:45:15,440 --> 00:45:15,960 Speaker 11: that side. 932 00:45:16,800 --> 00:45:20,040 Speaker 9: It does, it would free that up. I'm planned to 933 00:45:20,120 --> 00:45:22,799 Speaker 9: have more time probably in twenty eight but yes I 934 00:45:22,840 --> 00:45:26,960 Speaker 9: do Causeway now. In our most recent thank you for asking, Damien. 935 00:45:27,000 --> 00:45:31,360 Speaker 9: Our most recent investment at Causeway was the recapitalization of 936 00:45:31,360 --> 00:45:33,799 Speaker 9: the PGA Tour, turning it into a for profit from 937 00:45:33,800 --> 00:45:36,960 Speaker 9: a nonprofit and really thinking about taking it more global. 938 00:45:37,480 --> 00:45:39,719 Speaker 9: So I'm in there with we are in there with 939 00:45:40,080 --> 00:45:42,600 Speaker 9: the Penway Sports Group, Red Sox We're in there with 940 00:45:42,640 --> 00:45:46,080 Speaker 9: other major league owners from various leagues, and it really 941 00:45:46,200 --> 00:45:49,480 Speaker 9: is a thrill to be in golf as a it's 942 00:45:49,520 --> 00:45:53,280 Speaker 9: really a passion, but it's also a business for an 943 00:45:53,400 --> 00:45:55,680 Speaker 9: entertainment of sport that can really grow from here, and 944 00:45:55,680 --> 00:45:56,960 Speaker 9: so we're excited to be doing network. 945 00:45:57,280 --> 00:45:59,839 Speaker 1: Yeah, we're really looking forward to see to seeing how 946 00:45:59,880 --> 00:46:03,280 Speaker 1: that shapes up and how it develops. You had mentioned 947 00:46:03,600 --> 00:46:05,560 Speaker 1: this is going to be kind of an ongoing process. 948 00:46:06,440 --> 00:46:09,520 Speaker 1: In terms of timeline, do you think this stale will 949 00:46:09,560 --> 00:46:11,480 Speaker 1: be completed before the end of the year, just kind 950 00:46:11,520 --> 00:46:12,480 Speaker 1: of broad brushstrokes. 951 00:46:14,520 --> 00:46:16,719 Speaker 9: I think we're not really giving a timeline, but that 952 00:46:17,480 --> 00:46:19,520 Speaker 9: I would say that there's not a rush to do it, 953 00:46:19,560 --> 00:46:23,480 Speaker 9: and then there's league approvals and right all that's so, 954 00:46:23,480 --> 00:46:25,839 Speaker 9: I would say now that we're approaching November, I would 955 00:46:25,840 --> 00:46:29,120 Speaker 9: say that it's we're properly targeting it for you know, 956 00:46:29,160 --> 00:46:30,439 Speaker 9: the earlier part of twenty five. 957 00:46:31,280 --> 00:46:35,880 Speaker 8: Wick Grossback, co founder of Cinchor Tequila, also lead owner 958 00:46:35,880 --> 00:46:40,520 Speaker 8: and governor of the Boston Celtics, and Emelia Fazolari, co 959 00:46:40,640 --> 00:46:45,600 Speaker 8: founder and executive chairperson of Sinchoro Tequila, thank you both 960 00:46:45,600 --> 00:46:50,280 Speaker 8: for joining us. That's right, Yeah, your old school here. 961 00:46:50,120 --> 00:46:53,600 Speaker 11: Man almost called you all, Amelia, I didn't knocking him. 962 00:46:53,440 --> 00:46:59,200 Speaker 8: Out, No, no, no, thank you all. I appreciate you 963 00:46:59,239 --> 00:47:01,520 Speaker 8: guys coming on the Bloomberg Business of Sports. 964 00:47:02,840 --> 00:47:03,279 Speaker 9: Nice being on. 965 00:47:03,560 --> 00:47:05,840 Speaker 8: And that does it for this edition of The Bloomberg 966 00:47:05,880 --> 00:47:09,600 Speaker 8: Business of Sports for my colleague Scarlett Food, Damien Sassauer, 967 00:47:09,880 --> 00:47:14,000 Speaker 8: and Bloomberg Original sports correspondent Vanessa Berdomo. I'm Michael Barr. 968 00:47:14,360 --> 00:47:17,520 Speaker 8: Do not forget to subscribe to the Bloomberg Business of 969 00:47:17,560 --> 00:47:20,960 Speaker 8: Sports podcast. Find it on Apple, Spotify and all your 970 00:47:21,040 --> 00:47:24,400 Speaker 8: favorite podcast platforms. Thank you for joining us. Tune in 971 00:47:24,400 --> 00:47:26,640 Speaker 8: again next week for the latest on the stories moving 972 00:47:26,719 --> 00:47:29,200 Speaker 8: big old money in the world of sports. You're listening 973 00:47:29,200 --> 00:47:33,880 Speaker 8: to Bloomberg Business of Sports from Bloomberger Radio around the world.