1 00:00:02,440 --> 00:00:06,760 Speaker 1: Bloomberg Audio Studios, Podcasts, radio News. 2 00:00:07,680 --> 00:00:11,560 Speaker 2: This is Bloomberg Business of Sports. Business of Sports can 3 00:00:11,600 --> 00:00:14,200 Speaker 2: be intimidating for hard for a start to break into. 4 00:00:14,280 --> 00:00:17,279 Speaker 1: We really appreciate when our owners are actually there, you know, 5 00:00:17,360 --> 00:00:20,239 Speaker 1: with us through the journey teams ours especially then very 6 00:00:20,239 --> 00:00:23,320 Speaker 1: intentional to diversify at all levels of the company. Maybe 7 00:00:23,320 --> 00:00:26,320 Speaker 1: we're in the golden years for the NFL and college football. 8 00:00:26,400 --> 00:00:29,480 Speaker 3: Our demographic reach has continued to expande. 9 00:00:29,520 --> 00:00:33,160 Speaker 1: This is going to be really unlocking the streaming platform 10 00:00:33,240 --> 00:00:34,160 Speaker 1: for sports fans. 11 00:00:34,280 --> 00:00:36,720 Speaker 4: Sports evaluations are rising. We'll see when they peak. 12 00:00:36,800 --> 00:00:39,440 Speaker 5: You don't have to be the best in your sports 13 00:00:39,440 --> 00:00:42,320 Speaker 5: and make a whole ton of money. 14 00:00:42,360 --> 00:00:45,280 Speaker 6: Bloomberg Business of Sports from Bloomberg Radio. 15 00:00:47,159 --> 00:00:49,800 Speaker 2: This is the Bloomberg Business of Sports show where we 16 00:00:49,840 --> 00:00:51,880 Speaker 2: explore the money issues in the world of sports. 17 00:00:51,920 --> 00:00:54,720 Speaker 7: I'm Michael Barr, I'm Scarlett Foo, I'm Vanessa Prodemo. 18 00:00:54,960 --> 00:00:57,600 Speaker 2: Vanessa is in for Damian sas Hour. He will be 19 00:00:57,640 --> 00:01:00,400 Speaker 2: back next week. Coming up on the show, We're all 20 00:01:00,440 --> 00:01:05,440 Speaker 2: about football and I'm talking about Yeah, kick that NFL football. 21 00:01:05,840 --> 00:01:10,680 Speaker 2: We'll talk with Mountain West Conference Commissioner Gloria Navarez as 22 00:01:10,720 --> 00:01:13,080 Speaker 2: we get ready for the college football season. 23 00:01:13,160 --> 00:01:15,959 Speaker 8: Conference realignment needs to be something that happened like once 24 00:01:16,000 --> 00:01:18,640 Speaker 8: a decade. In fact, the Mountain West is pretty young 25 00:01:18,800 --> 00:01:21,040 Speaker 8: relative to the other FBS leagues are only twenty five 26 00:01:21,120 --> 00:01:23,280 Speaker 8: years old. But now it's our every day. 27 00:01:23,400 --> 00:01:26,360 Speaker 2: We'll also talk about private equity making its way into 28 00:01:26,440 --> 00:01:29,760 Speaker 2: the NFL. All that and more is on the way 29 00:01:29,840 --> 00:01:32,360 Speaker 2: on the Bloomberg Business of Sports. But first we talk 30 00:01:32,440 --> 00:01:36,680 Speaker 2: with an old friend of the show, Bloomberg Originals chief correspondent, 31 00:01:36,800 --> 00:01:39,440 Speaker 2: Jason Kelly. He's got a new piece out on how 32 00:01:39,560 --> 00:01:42,760 Speaker 2: NFL players are reacting to the complex new reality of 33 00:01:42,840 --> 00:01:46,080 Speaker 2: sports betting, and he spoke with a handful of current 34 00:01:46,160 --> 00:01:49,480 Speaker 2: and former pros here to take us through this story. 35 00:01:49,680 --> 00:01:54,400 Speaker 2: The man himself, Jason old friend, old buddy Opallo chump. 36 00:01:54,560 --> 00:01:55,680 Speaker 2: Welcome back, ma, man. 37 00:01:55,600 --> 00:01:57,360 Speaker 5: Thank you, it's great to be here with you guys. 38 00:01:57,760 --> 00:02:03,000 Speaker 2: Yeah, I gotta admit, it's like I'm watching football and 39 00:02:03,200 --> 00:02:07,160 Speaker 2: when once we went to legalized sports betting, the whole 40 00:02:07,200 --> 00:02:11,760 Speaker 2: thing to you have to separate fantasy sports, yep, from 41 00:02:11,919 --> 00:02:16,880 Speaker 2: actual betting, because now you're talking about covering points, spreads, 42 00:02:16,919 --> 00:02:19,760 Speaker 2: you know, the over under and all the other stuff. 43 00:02:20,160 --> 00:02:22,679 Speaker 2: And I'm studying everybody. 44 00:02:22,200 --> 00:02:26,760 Speaker 5: Now, Yeah, I mean it is probably the most radical 45 00:02:26,919 --> 00:02:32,720 Speaker 5: change in sports, sports media, the business of sports, all 46 00:02:32,760 --> 00:02:37,360 Speaker 5: of it that we've probably seen in our lifetimes. I mean, nil, 47 00:02:37,680 --> 00:02:39,639 Speaker 5: which I know you guys are talking about on the 48 00:02:39,680 --> 00:02:43,320 Speaker 5: show as well, is probably the right out there. But 49 00:02:43,360 --> 00:02:47,399 Speaker 5: it's totally changed everything. And so our colleagues at BusinessWeek 50 00:02:47,440 --> 00:02:50,360 Speaker 5: put together this really interesting package, really looking at it 51 00:02:50,360 --> 00:02:53,799 Speaker 5: from all different angles, and Brad Stone, the editor of BusinessWeek, 52 00:02:53,919 --> 00:02:55,680 Speaker 5: called me up and was like, I think we need 53 00:02:55,720 --> 00:02:57,360 Speaker 5: to get the perspective of the players, and he was 54 00:02:57,400 --> 00:03:01,360 Speaker 5: totally right. And I have to say it surprised me 55 00:03:02,120 --> 00:03:03,880 Speaker 5: on a lot of levels. A that they were willing 56 00:03:03,919 --> 00:03:06,560 Speaker 5: to talk and be kind of how candid they were. 57 00:03:06,480 --> 00:03:09,359 Speaker 7: About it one hundred percent. I've been working on this 58 00:03:09,400 --> 00:03:11,160 Speaker 7: story with you for a while too, did the video 59 00:03:11,200 --> 00:03:13,880 Speaker 7: part of it, and before we got any of them 60 00:03:13,880 --> 00:03:16,800 Speaker 7: on camera, I was like, none of them will speak 61 00:03:16,840 --> 00:03:19,280 Speaker 7: about this. I don't understand why we think. 62 00:03:19,120 --> 00:03:20,120 Speaker 5: That they will speak about it. 63 00:03:20,200 --> 00:03:21,799 Speaker 7: Yeah, but a lot of them didn't. They were really 64 00:03:21,840 --> 00:03:24,079 Speaker 7: candid about their fear and everything that they had. 65 00:03:24,040 --> 00:03:25,720 Speaker 5: To deal with. Yeah, it was interesting. I mean it 66 00:03:25,800 --> 00:03:29,680 Speaker 5: was not, as you know, it was not easy to 67 00:03:29,680 --> 00:03:32,000 Speaker 5: get them to talk, you know, we were fortunate we 68 00:03:32,040 --> 00:03:35,000 Speaker 5: have a relationship and a friendship with a group called 69 00:03:35,040 --> 00:03:38,000 Speaker 5: the Pro Athlete Community. We had hosted them at Bloomberg 70 00:03:38,320 --> 00:03:41,480 Speaker 5: and these are a bunch of players, current informer in 71 00:03:41,480 --> 00:03:44,320 Speaker 5: the NFL and other sports who are very business minded 72 00:03:44,400 --> 00:03:47,760 Speaker 5: and have really looked at the underlying economics, their own 73 00:03:47,880 --> 00:03:51,000 Speaker 5: underlying economics and the underlying economics of the sport. And 74 00:03:51,080 --> 00:03:53,720 Speaker 5: so those were the guys. So this is you know, 75 00:03:53,800 --> 00:03:57,120 Speaker 5: Tron Armstead and Julius Thomas and River Craycraft. They're all 76 00:03:57,160 --> 00:04:00,720 Speaker 5: involved in Pro Athlete Community, and so they were willing 77 00:04:00,720 --> 00:04:02,880 Speaker 5: to talk, I think because they really have given it 78 00:04:02,920 --> 00:04:06,960 Speaker 5: some thought and you know, weren't sort of you know, 79 00:04:07,000 --> 00:04:10,080 Speaker 5: shooting off the cuff. And then Austin Eckler, interestingly enough 80 00:04:10,080 --> 00:04:13,200 Speaker 5: to your point, bar he really got involved in this. 81 00:04:13,840 --> 00:04:17,320 Speaker 5: Also a very smart businessman from the perspective of leaning 82 00:04:17,360 --> 00:04:19,720 Speaker 5: into fantasy, and so that was kind of how he 83 00:04:19,880 --> 00:04:24,960 Speaker 5: started to understand this different relationship that fans and players 84 00:04:25,000 --> 00:04:26,440 Speaker 5: now have owing to sports betting. 85 00:04:27,680 --> 00:04:29,880 Speaker 1: I'm curious how many people said no when you did 86 00:04:29,920 --> 00:04:31,200 Speaker 1: ask them to talk about this. 87 00:04:31,320 --> 00:04:34,479 Speaker 5: A lot, I mean there were a number of I mean, 88 00:04:34,720 --> 00:04:37,600 Speaker 5: VP and I have been doing this for a while together. 89 00:04:37,760 --> 00:04:40,120 Speaker 5: And you know, we talked to a lot of players, 90 00:04:40,160 --> 00:04:41,839 Speaker 5: We talked to a lot of player reps, you know, 91 00:04:41,960 --> 00:04:44,960 Speaker 5: publicist agents, et cetera. There were a number of who 92 00:04:45,000 --> 00:04:47,919 Speaker 5: I called, especially the reps, who are like, there's no 93 00:04:48,000 --> 00:04:50,200 Speaker 5: way my guys are going to talk about this. There's nothing, 94 00:04:50,279 --> 00:04:53,920 Speaker 5: there's no upside for them. And I think what these 95 00:04:53,920 --> 00:04:57,400 Speaker 5: guys realized, and this comes through I think in the interviews, 96 00:04:58,000 --> 00:05:00,919 Speaker 5: is that it's not going anywhere, and so this is 97 00:05:00,920 --> 00:05:03,560 Speaker 5: something that they really need to live with and sort 98 00:05:03,600 --> 00:05:07,200 Speaker 5: of get their heads around. And also, and I think 99 00:05:07,240 --> 00:05:09,840 Speaker 5: this goes to a really important part of this. We 100 00:05:09,920 --> 00:05:12,120 Speaker 5: are at a moment the four of us have seen 101 00:05:12,160 --> 00:05:16,159 Speaker 5: this from all different angles where players are in a 102 00:05:16,320 --> 00:05:20,000 Speaker 5: very powerful way taking control of their own destiny. And 103 00:05:20,000 --> 00:05:22,520 Speaker 5: so I think these guys, especially like, Okay, I want 104 00:05:22,520 --> 00:05:26,279 Speaker 5: to talk about this because we need a bigger say so. 105 00:05:26,560 --> 00:05:28,520 Speaker 1: The thing about the players and you could be like 106 00:05:28,560 --> 00:05:30,920 Speaker 1: a part time kicker or the backup to the backup kicker, 107 00:05:31,360 --> 00:05:32,920 Speaker 1: but you have no choice in the matter. You are 108 00:05:32,920 --> 00:05:35,680 Speaker 1: involved in this, whether you want to or not. Has 109 00:05:35,720 --> 00:05:38,880 Speaker 1: the NFL Players Association addressed this in any meaningful way. 110 00:05:38,960 --> 00:05:41,320 Speaker 5: So they definitely have, And one of the things we 111 00:05:41,360 --> 00:05:43,640 Speaker 5: talk to the NFL about this, and the NFL has 112 00:05:43,720 --> 00:05:48,240 Speaker 5: been very you know forward in their commentary about it. 113 00:05:48,320 --> 00:05:50,359 Speaker 5: I think one of the most notable things is that 114 00:05:50,839 --> 00:05:55,839 Speaker 5: the NFL has been incredibly strict on it, and both 115 00:05:55,839 --> 00:06:00,560 Speaker 5: strict and conservative. Conservative in the sense that NFL players 116 00:06:00,600 --> 00:06:02,600 Speaker 5: are allowed to do less than a lot of their 117 00:06:02,640 --> 00:06:07,240 Speaker 5: counterparts in other leagues around endorsement. So as of for instance, 118 00:06:07,360 --> 00:06:10,920 Speaker 5: Lebron James is an ambassador for DraftKings, NFL players can't 119 00:06:10,920 --> 00:06:14,000 Speaker 5: do that. They cannot have any sort of business relationship 120 00:06:14,040 --> 00:06:17,480 Speaker 5: with any of the sports books. So that's one where 121 00:06:17,480 --> 00:06:21,160 Speaker 5: they've been, you know, pretty conservative. On the punishment side, 122 00:06:21,360 --> 00:06:24,400 Speaker 5: the punishments are severe. I mean Calvin Ridley is the 123 00:06:24,440 --> 00:06:27,200 Speaker 5: one that everybody points to. Every player we talked to 124 00:06:27,400 --> 00:06:30,599 Speaker 5: talked about Calvin Ridley because this is an Atlanta Falcons player. 125 00:06:30,760 --> 00:06:33,640 Speaker 5: He was injured, it came out that he bet on football, 126 00:06:33,680 --> 00:06:37,560 Speaker 5: including the Falcons. He was suspended indefinitely. Ultimately it was 127 00:06:37,600 --> 00:06:41,960 Speaker 5: a one year suspension and he got released by the Falcons. 128 00:06:42,080 --> 00:06:43,920 Speaker 5: You know, is playing back in the league again. But 129 00:06:45,120 --> 00:06:47,640 Speaker 5: to a man, every one of these guys was like 130 00:06:48,240 --> 00:06:53,600 Speaker 5: that hit hard because you guys know this the average 131 00:06:54,440 --> 00:06:56,359 Speaker 5: career in the NFL is three and a half years. 132 00:06:56,440 --> 00:06:58,080 Speaker 5: So if you're out for a year or two, like 133 00:06:58,120 --> 00:07:01,520 Speaker 5: you're done the changes, yeah, and game you know, quite 134 00:07:01,520 --> 00:07:02,320 Speaker 5: literally game over. 135 00:07:02,960 --> 00:07:04,880 Speaker 2: This is something and I want to put in perspective 136 00:07:04,920 --> 00:07:09,080 Speaker 2: too for people out there who gamble and play fantasy sports. 137 00:07:09,400 --> 00:07:14,000 Speaker 2: Tada listen, and I know when we get down to 138 00:07:14,080 --> 00:07:17,680 Speaker 2: a last second kick and the kicker either makes it 139 00:07:17,800 --> 00:07:21,080 Speaker 2: or misses it, you're going to say that blasted, blasted kicker, 140 00:07:21,120 --> 00:07:24,559 Speaker 2: blah blah blah blah blah. No, it's the whole game, 141 00:07:24,920 --> 00:07:27,920 Speaker 2: the whole game. And I think Eckler said it the best, 142 00:07:28,200 --> 00:07:31,760 Speaker 2: Austin Eckler. They feel like pieces of the puzzle. 143 00:07:31,920 --> 00:07:35,400 Speaker 5: Yes, yeah, widgets is what he said. Yeah, and that 144 00:07:35,560 --> 00:07:38,280 Speaker 5: certainly is that is the case. And you know, one 145 00:07:38,320 --> 00:07:40,400 Speaker 5: of the things that came through very powerfully, I think 146 00:07:40,440 --> 00:07:45,960 Speaker 5: in this is this notion that it's far too easy 147 00:07:46,000 --> 00:07:49,360 Speaker 5: to forget these are human beings. I mean, Vanessa, you 148 00:07:49,440 --> 00:07:52,600 Speaker 5: were a high level college athlete. You know what it's 149 00:07:52,640 --> 00:07:56,320 Speaker 5: like to be on the field. You're a person, you know, 150 00:07:56,560 --> 00:07:59,720 Speaker 5: and it's so easy when you're looking at a screen 151 00:07:59,760 --> 00:08:02,720 Speaker 5: on your to be like, ah, he missed that kick. 152 00:08:02,800 --> 00:08:05,400 Speaker 5: Or he didn't get this many yards or whatever, like 153 00:08:05,440 --> 00:08:06,280 Speaker 5: what's wrong with him? 154 00:08:06,560 --> 00:08:06,720 Speaker 2: Right? 155 00:08:06,760 --> 00:08:09,000 Speaker 7: And I think I think something that gets lost there, 156 00:08:09,040 --> 00:08:11,920 Speaker 7: And it's hard to you know, look at them both, 157 00:08:11,920 --> 00:08:14,800 Speaker 7: but like with college athletes, like for me, I look 158 00:08:14,840 --> 00:08:16,720 Speaker 7: at them and I get see that what they have 159 00:08:16,800 --> 00:08:19,960 Speaker 7: to deal with. Those are kids, Yeah, let them you know, 160 00:08:20,160 --> 00:08:22,240 Speaker 7: like live. I mean, COVID did extend some them to 161 00:08:22,240 --> 00:08:24,120 Speaker 7: like twenty four years old, but like, you know, kid, 162 00:08:24,760 --> 00:08:27,400 Speaker 7: they're kids ish, But like that's insane for them to 163 00:08:27,440 --> 00:08:29,640 Speaker 7: have to deal with. But even on the professional side, 164 00:08:29,680 --> 00:08:35,280 Speaker 7: it's almost we've treated them like their superheroes forever. Yeah, 165 00:08:35,320 --> 00:08:38,320 Speaker 7: and this is just another instance where people think of 166 00:08:38,360 --> 00:08:42,360 Speaker 7: them as not people anymore and just numbers and things 167 00:08:42,400 --> 00:08:44,959 Speaker 7: like that. And I spoke to people about this story, 168 00:08:45,400 --> 00:08:48,360 Speaker 7: you know, not players specifically, but people about this story. 169 00:08:48,400 --> 00:08:52,360 Speaker 7: But how can you guard them in that sense? And 170 00:08:52,400 --> 00:08:54,120 Speaker 7: how can you stop those sorts of things? How can 171 00:08:54,160 --> 00:08:56,680 Speaker 7: you stop players from betting on themselves John tay Porter 172 00:08:56,720 --> 00:08:58,960 Speaker 7: or things like that. And one of the things that 173 00:08:59,200 --> 00:09:02,720 Speaker 7: was brought up is maybe that sometime down the line, 174 00:09:03,040 --> 00:09:08,160 Speaker 7: it's not having prop player bets as much, then that 175 00:09:08,640 --> 00:09:11,280 Speaker 7: guards them from all of those sorts of things. I mean, 176 00:09:11,360 --> 00:09:13,320 Speaker 7: the spread will still be there if a player goes 177 00:09:13,360 --> 00:09:16,600 Speaker 7: over it whatever, But that's interesting. That would guard them 178 00:09:16,640 --> 00:09:17,839 Speaker 7: from those sorts of hate. 179 00:09:18,480 --> 00:09:21,320 Speaker 1: That's for college players though, Yeah, are you talking about 180 00:09:21,480 --> 00:09:22,600 Speaker 1: what professional it would. 181 00:09:22,440 --> 00:09:25,800 Speaker 7: Be for really for anything? And this isn't something I'm saying. 182 00:09:25,800 --> 00:09:27,800 Speaker 7: It's not something that they were like, this will happen 183 00:09:27,920 --> 00:09:30,080 Speaker 7: or needs to happen, but it was something that it 184 00:09:30,200 --> 00:09:31,440 Speaker 7: could could happen. 185 00:09:32,080 --> 00:09:39,800 Speaker 5: Yeah, I mean, I do think that the players, the teams, 186 00:09:39,920 --> 00:09:43,439 Speaker 5: the leagues these days, in a very good way, are 187 00:09:43,559 --> 00:09:48,599 Speaker 5: much more aware of the underlying humanity and candidly the 188 00:09:48,679 --> 00:09:51,240 Speaker 5: underlying mental health of these players that has very much 189 00:09:51,320 --> 00:09:53,200 Speaker 5: come to the fore. You know, one of my favorite 190 00:09:53,240 --> 00:09:56,000 Speaker 5: interviews in this was Julius Thomas, who's a former tight end, 191 00:09:57,520 --> 00:10:01,840 Speaker 5: unbelievable guy, retired now is in his sixth year of 192 00:10:01,960 --> 00:10:07,040 Speaker 5: a doctoral program in psychology. Remarkable and what and the 193 00:10:07,320 --> 00:10:09,000 Speaker 5: very clear reason he did it. He and I talked 194 00:10:09,000 --> 00:10:12,040 Speaker 5: for a long time on camera and off about why 195 00:10:12,080 --> 00:10:14,720 Speaker 5: he did that, and it's because of what he himself 196 00:10:14,760 --> 00:10:18,840 Speaker 5: experienced and what he saw firsthand in locker rooms. The 197 00:10:19,360 --> 00:10:22,720 Speaker 5: you know, the the highs and the lows, but you know, 198 00:10:22,880 --> 00:10:27,760 Speaker 5: really the mental health damage that can be inflicted not 199 00:10:27,880 --> 00:10:30,599 Speaker 5: just related to betting, but just in the day to 200 00:10:30,679 --> 00:10:34,240 Speaker 5: day of being a high tier, high caliber athlete. 201 00:10:33,920 --> 00:10:36,120 Speaker 1: Right and on top of that, having people bet on 202 00:10:36,160 --> 00:10:37,920 Speaker 1: you when come up to you, you know, in a 203 00:10:37,960 --> 00:10:41,199 Speaker 1: parking lot, blaming you for not getting that kick or 204 00:10:41,760 --> 00:10:45,200 Speaker 1: not getting the extra yard. And you know, the natural 205 00:10:45,240 --> 00:10:47,280 Speaker 1: response to that would be to kind of go into hiding, 206 00:10:47,280 --> 00:10:49,040 Speaker 1: to not want to deal with people totally, which is 207 00:10:49,080 --> 00:10:50,880 Speaker 1: something that a lot of people told you as well. 208 00:10:50,960 --> 00:10:52,840 Speaker 5: They definitely done. I mean, Julius was one who said, 209 00:10:52,840 --> 00:10:55,400 Speaker 5: you know, he started going to the grocery store at 210 00:10:55,559 --> 00:10:57,600 Speaker 5: night because if he went during the day, people were 211 00:10:57,600 --> 00:11:00,160 Speaker 5: literally coming up to him and like giving it a 212 00:11:00,200 --> 00:11:03,040 Speaker 5: hard time about a catch he didn't make, or a 213 00:11:03,080 --> 00:11:05,760 Speaker 5: spread they didn't cover, or or what have you. I mean, 214 00:11:05,800 --> 00:11:08,080 Speaker 5: it's it's pretty remarkable. 215 00:11:08,160 --> 00:11:08,400 Speaker 7: I mean. 216 00:11:08,400 --> 00:11:11,880 Speaker 5: The other remarkable thing in these conversations, to me at least, 217 00:11:12,000 --> 00:11:17,400 Speaker 5: was how clear they the players were about the fact 218 00:11:17,440 --> 00:11:21,720 Speaker 5: that A it's probably here to stay and B for 219 00:11:21,800 --> 00:11:24,880 Speaker 5: the bottom line of the game, it's good. I mean, 220 00:11:24,920 --> 00:11:27,520 Speaker 5: you know, these these are players who ultimately share in 221 00:11:27,600 --> 00:11:30,679 Speaker 5: the overall revenue of the NFL. This is part of 222 00:11:30,720 --> 00:11:33,280 Speaker 5: the CBA so when you know DraftKings or Fandled or 223 00:11:33,280 --> 00:11:37,360 Speaker 5: whoever is buying a sponsorship, especially a league wide sponsorship, 224 00:11:37,760 --> 00:11:40,679 Speaker 5: all that revenue, you know, ultimately gets split with the players. Now, 225 00:11:40,720 --> 00:11:43,320 Speaker 5: I think there'll be some interesting negotiations at the next CBA, 226 00:11:43,400 --> 00:11:45,760 Speaker 5: which I believe is in twenty thirty, about you know, 227 00:11:45,800 --> 00:11:48,320 Speaker 5: whether the split is different, and whether, you know, some 228 00:11:48,360 --> 00:11:50,640 Speaker 5: of the betting because it is so directly tied to 229 00:11:50,679 --> 00:11:56,000 Speaker 5: the players, whether they get a big, bigger piece of that. 230 00:11:56,520 --> 00:11:59,679 Speaker 5: But you know, there's also this whole notion of this 231 00:11:59,720 --> 00:12:04,480 Speaker 5: whole idea that our relationship as fans has changed owing 232 00:12:04,520 --> 00:12:08,000 Speaker 5: to fantasy and betting because we're now much more focused 233 00:12:08,000 --> 00:12:10,439 Speaker 5: on players. We saw this in the NBA first, right, 234 00:12:10,880 --> 00:12:13,360 Speaker 5: NFL was later because they're under helmets and all of that, 235 00:12:13,400 --> 00:12:17,480 Speaker 5: but now the individual stats and Austin Eckler is leaning 236 00:12:17,480 --> 00:12:19,760 Speaker 5: into that, and he's essentially saying, look, I have all 237 00:12:19,800 --> 00:12:23,320 Speaker 5: these fans who, yeah, maybe some of them were Chargers 238 00:12:23,320 --> 00:12:26,439 Speaker 5: fans when he played for the Los Angeles Chargers, and 239 00:12:26,559 --> 00:12:28,840 Speaker 5: maybe some of them are Washington Commanders fans now that 240 00:12:28,840 --> 00:12:30,880 Speaker 5: he's with the Commanders. But guess what, there are a 241 00:12:30,920 --> 00:12:33,800 Speaker 5: lot of Austin Eckler fans out there who like he 242 00:12:33,920 --> 00:12:36,000 Speaker 5: was their fantasy guy, and they love him and they 243 00:12:36,000 --> 00:12:37,600 Speaker 5: love what he's doing off the field and all that, 244 00:12:37,640 --> 00:12:39,479 Speaker 5: and so there is this opportunity. 245 00:12:39,920 --> 00:12:40,160 Speaker 2: You know. 246 00:12:40,240 --> 00:12:42,720 Speaker 5: Again, it goes to this notion of the players being 247 00:12:43,320 --> 00:12:45,120 Speaker 5: much more in charge of their own brands. 248 00:12:45,200 --> 00:12:48,160 Speaker 2: Our thanks to Bloomberg Original's chief correspond to Jason Kelly 249 00:12:48,160 --> 00:12:50,680 Speaker 2: for joining us, is coming up. We stick with football 250 00:12:50,720 --> 00:12:54,120 Speaker 2: and talk about how close we could be to private 251 00:12:54,120 --> 00:12:57,040 Speaker 2: equity making its way into the NFL. At a straight 252 00:12:57,040 --> 00:12:59,920 Speaker 2: ahead on the Bloomberg Business of Sports from Bloomberg Radio. 253 00:13:00,240 --> 00:13:01,040 Speaker 2: Around the Burrow. 254 00:13:03,880 --> 00:13:08,040 Speaker 6: You're listening to Bloomberg Business of Sports from Bloomberg Radio. 255 00:13:09,520 --> 00:13:11,640 Speaker 2: This is the Bloomberg Business of Sports show, but we 256 00:13:11,720 --> 00:13:13,600 Speaker 2: explored the big money issues in the world of sports. 257 00:13:13,600 --> 00:13:16,840 Speaker 2: I'm Michael Barr, along with Scarlett fou and special guest 258 00:13:16,880 --> 00:13:20,880 Speaker 2: host Vanessa Pernomo Damian Sasara will be back next week. 259 00:13:21,120 --> 00:13:24,760 Speaker 2: The NFL one step closer to allowing private equity firms 260 00:13:24,920 --> 00:13:28,800 Speaker 2: to have ownership stakes in teams. Scarlett sat down with 261 00:13:29,000 --> 00:13:33,680 Speaker 2: our buddy Bloomberg US sports business reporter Randa Williams for 262 00:13:33,720 --> 00:13:34,599 Speaker 2: the latest. 263 00:13:34,400 --> 00:13:39,480 Speaker 1: Let's listen it, Randall, you have been covering the NFL 264 00:13:39,800 --> 00:13:43,440 Speaker 1: and the prospect of private equity owners in the league 265 00:13:43,480 --> 00:13:45,680 Speaker 1: for a while now, and it feels like we're getting 266 00:13:45,920 --> 00:13:48,040 Speaker 1: just a little bit closer hopefully. 267 00:13:48,640 --> 00:13:49,480 Speaker 2: Hopefully. 268 00:13:49,679 --> 00:13:53,400 Speaker 4: Have you been covering this, says since I guess October 269 00:13:53,440 --> 00:13:56,120 Speaker 4: of last year, and that's when the NFL formed its 270 00:13:56,120 --> 00:13:59,160 Speaker 4: initial committee of owners to take a look at this. 271 00:13:59,280 --> 00:14:03,280 Speaker 4: They've been studying if for some time. Initially there was 272 00:14:03,320 --> 00:14:05,440 Speaker 4: thought that it was going to be there, it was 273 00:14:05,520 --> 00:14:07,600 Speaker 4: going to be a part of the discussion in March, 274 00:14:08,040 --> 00:14:10,000 Speaker 4: and then another meeting in May they brought it up 275 00:14:10,040 --> 00:14:13,719 Speaker 4: and brought up a framework. And now NFL Commissioner Roger 276 00:14:13,760 --> 00:14:17,319 Speaker 4: Goodell has called an impromptu meeting with this on a ducat, 277 00:14:17,440 --> 00:14:19,480 Speaker 4: So they're in and out in one day. 278 00:14:19,800 --> 00:14:20,400 Speaker 2: I think that. 279 00:14:21,080 --> 00:14:25,080 Speaker 4: They will have a very decision and a very short itinerary. 280 00:14:25,200 --> 00:14:28,160 Speaker 1: Okay, so the meeting will take place on August twenty seventh. 281 00:14:28,680 --> 00:14:31,680 Speaker 1: What is the argument not to allow private equity owners 282 00:14:31,760 --> 00:14:33,200 Speaker 1: in on teams. 283 00:14:33,000 --> 00:14:33,520 Speaker 2: At this point? 284 00:14:33,560 --> 00:14:36,000 Speaker 4: I don't know that there is one anymore, because of 285 00:14:36,080 --> 00:14:39,400 Speaker 4: how big these teams are becoming. I mean, the average 286 00:14:39,480 --> 00:14:42,320 Speaker 4: NFL team according to sport Code, the evaluation is five 287 00:14:42,360 --> 00:14:45,200 Speaker 4: point nine to three billion so ten percent steak is 288 00:14:45,280 --> 00:14:47,480 Speaker 4: five hundred million. There aren't that many people that can 289 00:14:47,520 --> 00:14:49,680 Speaker 4: buy these steaks. If you go larger than I mean, 290 00:14:49,720 --> 00:14:51,760 Speaker 4: you know, five percent steak is two hundred and fifty million, 291 00:14:51,880 --> 00:14:53,480 Speaker 4: there aren't a lot of people who just have that 292 00:14:53,600 --> 00:14:56,400 Speaker 4: cash in order to just throw it away or throw 293 00:14:56,440 --> 00:14:59,560 Speaker 4: it to an NFL team. So I don't know that 294 00:14:59,560 --> 00:15:02,040 Speaker 4: there is argument for what the NFL is looking for now. 295 00:15:02,040 --> 00:15:05,200 Speaker 4: There are people, but there are people who can buy them, 296 00:15:05,280 --> 00:15:07,600 Speaker 4: but they're not going to want to be passive in 297 00:15:07,640 --> 00:15:09,760 Speaker 4: their ownership. They're going to want a suite, they're going 298 00:15:09,800 --> 00:15:11,360 Speaker 4: to want ticket sales, they're going to want to bring 299 00:15:11,400 --> 00:15:13,160 Speaker 4: their family and friends, And I don't know that that's 300 00:15:13,200 --> 00:15:15,080 Speaker 4: what private equity wants. They're going to be more passive. 301 00:15:15,080 --> 00:15:16,920 Speaker 4: They're going to buy and hold on to it, and 302 00:15:16,960 --> 00:15:18,640 Speaker 4: then if the team eventually sells, then they'll look to 303 00:15:18,640 --> 00:15:19,200 Speaker 4: get their return. 304 00:15:19,400 --> 00:15:22,560 Speaker 1: What about the existing owners, Are they looking to unload 305 00:15:22,600 --> 00:15:24,520 Speaker 1: some of their stake? Are they looking to cash out? 306 00:15:24,560 --> 00:15:27,080 Speaker 1: I mean, talk a little bit about the timeliness of 307 00:15:27,480 --> 00:15:30,320 Speaker 1: having potential pe owners in the NFL. 308 00:15:30,760 --> 00:15:33,160 Speaker 4: Well, there's a couple of reasons. There's the liquidity side 309 00:15:33,160 --> 00:15:37,320 Speaker 4: of things. There's some who want cash. There's internal turmoil 310 00:15:37,400 --> 00:15:39,920 Speaker 4: with families where if you have a family of let's 311 00:15:39,960 --> 00:15:43,920 Speaker 4: say four brothers and sisters, and maybe the youngest sister 312 00:15:44,120 --> 00:15:46,040 Speaker 4: wants to get out of it. They have a piece 313 00:15:46,080 --> 00:15:47,800 Speaker 4: that was passed down to them, but they don't actually 314 00:15:47,800 --> 00:15:50,120 Speaker 4: hold a position within a team. They like to cash 315 00:15:50,160 --> 00:15:53,120 Speaker 4: out on things. That's another issue that some teams are 316 00:15:53,120 --> 00:15:55,080 Speaker 4: trying to have. And then their stadium deals. There's a 317 00:15:55,120 --> 00:15:58,200 Speaker 4: lot of NFL teams who want renovations, who want new stadiums. 318 00:15:58,440 --> 00:16:01,240 Speaker 4: You sell ten percent of a team, that five hundred million, 319 00:16:01,320 --> 00:16:03,840 Speaker 4: six hundred million, maybe seven hundred million, depending on a team, 320 00:16:03,880 --> 00:16:07,200 Speaker 4: can go towards helping to build a stadium or renovate one. 321 00:16:07,240 --> 00:16:09,400 Speaker 4: So there's a lot of issues that this can solve. 322 00:16:09,720 --> 00:16:12,040 Speaker 4: It really just depends on where you sit on the 323 00:16:12,080 --> 00:16:14,600 Speaker 4: map as far as what issue you want to tackle first. 324 00:16:14,640 --> 00:16:16,640 Speaker 4: And then there are people like the Dallas Cowboys and 325 00:16:16,680 --> 00:16:17,800 Speaker 4: you know, the world is their oyster. 326 00:16:18,000 --> 00:16:21,200 Speaker 1: So the NFL would be the last major US professional 327 00:16:21,240 --> 00:16:24,240 Speaker 1: sports league to approve pe firms buying into teams. We 328 00:16:24,320 --> 00:16:28,400 Speaker 1: know that the NBA has already allowed this. Are there 329 00:16:28,400 --> 00:16:30,680 Speaker 1: any lessons to be drawn from what the NBA has 330 00:16:30,720 --> 00:16:32,760 Speaker 1: gone through that the NFL is looking at. 331 00:16:33,080 --> 00:16:35,520 Speaker 4: I don't know that there are any lessons. I think 332 00:16:35,560 --> 00:16:39,560 Speaker 4: that they are two completely different leagues. The NBA was 333 00:16:39,680 --> 00:16:43,760 Speaker 4: definitely the more expansive policy. I don't think that's what 334 00:16:43,800 --> 00:16:45,560 Speaker 4: will happen with the NFL. They're going to be a 335 00:16:45,600 --> 00:16:47,960 Speaker 4: little bit more strict, more stingent. These owners are going 336 00:16:48,000 --> 00:16:50,920 Speaker 4: to be i'd say, more careful. They don't want to 337 00:16:51,040 --> 00:16:53,960 Speaker 4: spoil what is the richest sports league in the world. 338 00:16:54,040 --> 00:16:57,600 Speaker 4: I mean, the NFL profits just keep rising. Their team 339 00:16:57,640 --> 00:17:00,920 Speaker 4: valuations keep rising. Even the Cincinnati Bengals, which are the 340 00:17:01,000 --> 00:17:03,400 Speaker 4: I believe the least valuable team, are still worth four 341 00:17:03,400 --> 00:17:07,000 Speaker 4: point seven billion dollars, which is more than most NBA teams. 342 00:17:07,200 --> 00:17:09,640 Speaker 4: So if your least valuable team is worth four point 343 00:17:09,680 --> 00:17:11,880 Speaker 4: seven billion, you still want that to continue to rise. 344 00:17:11,920 --> 00:17:14,679 Speaker 4: I'm sure that that valuation has doubled or tripled over 345 00:17:14,720 --> 00:17:16,760 Speaker 4: the past ten years. So they just want to be 346 00:17:16,760 --> 00:17:19,240 Speaker 4: careful around these things, because if you allow too much, 347 00:17:19,520 --> 00:17:22,560 Speaker 4: you allow twenty thirty, whatever policy you want to throw 348 00:17:22,560 --> 00:17:24,680 Speaker 4: out there, then you do have a risk of too 349 00:17:24,720 --> 00:17:27,200 Speaker 4: many institutional investors that may want to get out after 350 00:17:27,240 --> 00:17:30,199 Speaker 4: a couple of years. So I'm sure that over the 351 00:17:30,240 --> 00:17:33,760 Speaker 4: course of the last year that this Finance Committee has 352 00:17:34,080 --> 00:17:37,400 Speaker 4: looked at the policy that they're like, this is just right, 353 00:17:37,560 --> 00:17:39,400 Speaker 4: and now that they have it figured out, we'll find 354 00:17:39,400 --> 00:17:41,320 Speaker 4: out on August twenty seventh if they're. 355 00:17:41,119 --> 00:17:41,560 Speaker 2: Ready to go. 356 00:17:42,400 --> 00:17:45,520 Speaker 1: So when it comes to the NBA, we know that 357 00:17:45,560 --> 00:17:48,000 Speaker 1: after they've signed their latest media rights deal for the 358 00:17:48,080 --> 00:17:50,800 Speaker 1: next five years beginning after the end of next season, 359 00:17:51,600 --> 00:17:54,000 Speaker 1: it kind of paves the way for them to expand 360 00:17:54,040 --> 00:17:56,920 Speaker 1: as well, to bring on more teams. Is there ever 361 00:17:57,000 --> 00:18:00,600 Speaker 1: any talk of the NFL expanding and bringing in new team. 362 00:18:00,840 --> 00:18:02,639 Speaker 4: I don't think so. One of the things that all 363 00:18:02,640 --> 00:18:06,040 Speaker 4: the sports leagues have to figure out is a number 364 00:18:06,080 --> 00:18:09,320 Speaker 4: that is as divisible as thirty two. In thirty two, 365 00:18:09,400 --> 00:18:12,720 Speaker 4: you have two conferences, you have eight divisions, you have 366 00:18:12,760 --> 00:18:15,320 Speaker 4: four teams in each. If you go to thirty six, 367 00:18:15,520 --> 00:18:20,359 Speaker 4: it's not quite the same. That's because if you split, 368 00:18:20,440 --> 00:18:23,000 Speaker 4: if you split the teams and you have some divisions 369 00:18:23,000 --> 00:18:25,600 Speaker 4: with five, some divisions with four, if you go to forty, 370 00:18:26,119 --> 00:18:29,440 Speaker 4: a similar issue is there too. I don't know how 371 00:18:29,480 --> 00:18:31,720 Speaker 4: that would work. I don't think that anybody has figured 372 00:18:31,720 --> 00:18:34,679 Speaker 4: it out. I mean, the NBA is obviously the closest 373 00:18:34,680 --> 00:18:37,119 Speaker 4: to expansion. There's talks of the MLB as well, but 374 00:18:37,160 --> 00:18:39,880 Speaker 4: they're both talking about getting to thirty two. No one 375 00:18:39,920 --> 00:18:43,440 Speaker 4: has talked about going beyond that. I think Commissioner Roger 376 00:18:43,480 --> 00:18:46,119 Speaker 4: Goodell has said, you know, we'd like to expand in Europe, 377 00:18:46,160 --> 00:18:49,600 Speaker 4: and everyone wants to get a team or something overseas, 378 00:18:49,680 --> 00:18:51,520 Speaker 4: but no one has figured out that calculus yet. 379 00:18:51,600 --> 00:18:55,240 Speaker 1: Okay, interesting the magic number of thirty two being the 380 00:18:55,280 --> 00:18:58,560 Speaker 1: most optimal for playoffs, for the structure of the league 381 00:18:58,600 --> 00:19:01,320 Speaker 1: and the different conferences and how the media rights deals 382 00:19:01,359 --> 00:19:02,960 Speaker 1: are structured around that as well. 383 00:19:02,920 --> 00:19:03,520 Speaker 2: And who knows. 384 00:19:03,560 --> 00:19:08,080 Speaker 4: I mean, maybe there is at some point a little 385 00:19:08,080 --> 00:19:10,040 Speaker 4: bit of division as far as maybe there are some 386 00:19:10,160 --> 00:19:13,240 Speaker 4: divisions that have four teams and some that have five. 387 00:19:13,440 --> 00:19:16,480 Speaker 4: But the scheduling and the precision that is going to 388 00:19:16,480 --> 00:19:18,320 Speaker 4: be required to do that is a bit of a headache. 389 00:19:18,359 --> 00:19:21,119 Speaker 4: And if it's making money, why I add a problem 390 00:19:21,160 --> 00:19:24,880 Speaker 4: that you don't need? Right, So, I think they most 391 00:19:24,880 --> 00:19:27,399 Speaker 4: of these leagues outside of the NBA MLB will choose 392 00:19:27,400 --> 00:19:27,960 Speaker 4: to stay. 393 00:19:27,760 --> 00:19:28,640 Speaker 5: Safe, all right. 394 00:19:28,680 --> 00:19:31,160 Speaker 1: Something else I wanted to ask you about is what's 395 00:19:31,200 --> 00:19:34,480 Speaker 1: been going on with the sports joint venture between Disney, 396 00:19:34,520 --> 00:19:38,199 Speaker 1: Warner Brothers Discovery and Fox. People call it Spulu, what 397 00:19:38,240 --> 00:19:41,800 Speaker 1: the official name is Venue, but it got some bad 398 00:19:41,840 --> 00:19:45,840 Speaker 1: news recently after a judge basically has blocked the service. 399 00:19:45,880 --> 00:19:48,080 Speaker 1: It's going to cost forty two dollars ninety nine cents 400 00:19:48,080 --> 00:19:51,399 Speaker 1: a month. And this is a legal victory for Fubo, 401 00:19:51,480 --> 00:19:55,520 Speaker 1: which is another streaming service that challenged the economics of 402 00:19:55,560 --> 00:20:01,040 Speaker 1: this sports joint venture. What's next here? Because this sports 403 00:20:01,119 --> 00:20:03,959 Speaker 1: streaming service was supposed to launch, I believe this week, 404 00:20:04,200 --> 00:20:06,399 Speaker 1: which would allow it to start carrying games for the 405 00:20:06,480 --> 00:20:08,280 Speaker 1: current upcoming NFL season. 406 00:20:08,640 --> 00:20:13,080 Speaker 4: I don't know that this is the definitive end for Venue, Spoolu, 407 00:20:13,160 --> 00:20:15,159 Speaker 4: whatever you want to call it. I think that for 408 00:20:15,200 --> 00:20:17,399 Speaker 4: people who just want to watch sports on television, this 409 00:20:17,480 --> 00:20:20,760 Speaker 4: is a great option for it. I doubt ESPN and 410 00:20:20,920 --> 00:20:23,760 Speaker 4: the other parties involved are going to just be like, oh, 411 00:20:23,840 --> 00:20:26,280 Speaker 4: that's it now. They're going to group their billions of 412 00:20:26,320 --> 00:20:28,880 Speaker 4: dollars together, spend it in court, and I think they'll 413 00:20:28,920 --> 00:20:32,959 Speaker 4: find a solution. Ideally, you're right in saying that this 414 00:20:33,000 --> 00:20:34,800 Speaker 4: would have been a perfect time for this to come out. 415 00:20:34,880 --> 00:20:38,680 Speaker 4: Why because the NFL season is two weeks away, and 416 00:20:38,800 --> 00:20:41,879 Speaker 4: that is a problem. It's the most watched I'd say, 417 00:20:41,760 --> 00:20:44,400 Speaker 4: the individual games are some of the most watched events 418 00:20:44,720 --> 00:20:49,000 Speaker 4: in America, and the NBA is as popular or a 419 00:20:49,040 --> 00:20:49,679 Speaker 4: close second. 420 00:20:50,240 --> 00:20:52,800 Speaker 1: But there's so many games compared to football. 421 00:20:52,520 --> 00:20:55,800 Speaker 4: Exactly, and everyone's going to be watching the Thursday night game, 422 00:20:55,840 --> 00:20:57,880 Speaker 4: the Friday night game, the Sunday night's game, the Monday 423 00:20:57,960 --> 00:20:58,240 Speaker 4: night game. 424 00:20:58,280 --> 00:20:59,200 Speaker 2: That's how you want to launch. 425 00:20:59,520 --> 00:21:03,000 Speaker 4: So I think that delay is a hit, but I 426 00:21:03,040 --> 00:21:05,639 Speaker 4: don't think that it's going to have a drastic impact 427 00:21:05,680 --> 00:21:08,000 Speaker 4: unless this ruling stays exactly how it is right now. 428 00:21:08,040 --> 00:21:11,480 Speaker 1: And just to recap, when we talk about that Thursday Saturday, 429 00:21:11,560 --> 00:21:16,320 Speaker 1: no Thursday, Friday, Sunday, Monday schedule, Thursday's NFL networks right. 430 00:21:16,480 --> 00:21:19,919 Speaker 4: Thursday, well I'm speaking specifically about the NFL opening weekend. 431 00:21:20,119 --> 00:21:23,439 Speaker 4: So there will be Chiefs Ravens on Thursday, September fifth, 432 00:21:24,560 --> 00:21:27,239 Speaker 4: Packers Eagles on Friday September sixth, and then you have 433 00:21:27,240 --> 00:21:30,320 Speaker 4: the assortment assortmentive games on Sunday, then you have the 434 00:21:30,320 --> 00:21:32,520 Speaker 4: Monday night game, and then the following week will go 435 00:21:32,640 --> 00:21:37,440 Speaker 4: back to Amazon on Thursday, the other partners on Sunday, 436 00:21:37,640 --> 00:21:39,960 Speaker 4: and of course ESPN's Monday Night Football on Monday. 437 00:21:40,080 --> 00:21:43,840 Speaker 1: So this Venue Sports shoint venture had all the games 438 00:21:43,880 --> 00:21:46,280 Speaker 1: except for CBS's games. 439 00:21:46,119 --> 00:21:48,160 Speaker 4: Essentially CBS and Amazon and. 440 00:21:48,119 --> 00:21:50,560 Speaker 1: Amazon okay for the regular season, which is you know, 441 00:21:50,720 --> 00:21:53,119 Speaker 1: the line's share of it. What's the latest with the 442 00:21:53,200 --> 00:21:56,560 Speaker 1: whole Direct TV Monday Night Football? 443 00:21:56,880 --> 00:21:59,280 Speaker 4: Or it was NFL Sunday ticket. 444 00:21:59,200 --> 00:22:01,200 Speaker 1: NFL Sunday ticket, thank you. There's so many days of 445 00:22:01,200 --> 00:22:02,720 Speaker 1: the week now it's kind of hard to de track 446 00:22:02,800 --> 00:22:05,640 Speaker 1: them which games on what days. But of course there 447 00:22:05,760 --> 00:22:10,080 Speaker 1: was that ruling against it, and the NFL was looking 448 00:22:10,119 --> 00:22:13,320 Speaker 1: at a huge, huge penalty, but that has now been 449 00:22:13,920 --> 00:22:15,920 Speaker 1: you know, they've been given some relief here. 450 00:22:16,000 --> 00:22:19,080 Speaker 4: Yeah, the NFL's won the day so far. I mean 451 00:22:19,119 --> 00:22:21,320 Speaker 4: obviously the first time, the first time the ruling came 452 00:22:21,359 --> 00:22:23,720 Speaker 4: out where they would have had to pay billions of 453 00:22:23,760 --> 00:22:27,840 Speaker 4: dollars out, it's caused some trouble. Now that you know 454 00:22:27,920 --> 00:22:30,200 Speaker 4: this the ruling was overturned, I think there's a little 455 00:22:30,200 --> 00:22:34,200 Speaker 4: bit more safety involved. The feeling right now is that 456 00:22:34,520 --> 00:22:36,800 Speaker 4: you know, the seas have settled a bit. Yeah, but 457 00:22:37,880 --> 00:22:40,760 Speaker 4: as we know in things in court, something can flip 458 00:22:40,880 --> 00:22:43,600 Speaker 4: very very quickly. I think that it's going to play 459 00:22:43,600 --> 00:22:46,399 Speaker 4: out over time, as all of the NFL's issues in 460 00:22:46,440 --> 00:22:49,520 Speaker 4: courts do. And even with the venue thing. These things 461 00:22:49,760 --> 00:22:53,239 Speaker 4: happen in a courtroom, so we'll have to see how 462 00:22:53,280 --> 00:22:55,280 Speaker 4: it all turns out. I think that all of these 463 00:22:55,320 --> 00:22:57,600 Speaker 4: options are going to make money. I think Sunday Ticket 464 00:22:57,640 --> 00:22:59,920 Speaker 4: I saw something if you want to subscribe via app 465 00:23:00,359 --> 00:23:04,640 Speaker 4: is like seven hundred dollars including NFL red Zone, which 466 00:23:04,720 --> 00:23:07,239 Speaker 4: is a crazy price. I mean I pay a red 467 00:23:07,320 --> 00:23:09,760 Speaker 4: zone through YouTube TV. I think it cost me an 468 00:23:09,760 --> 00:23:12,480 Speaker 4: extra fourteen bucks a month. But if Apple, who is 469 00:23:12,600 --> 00:23:16,520 Speaker 4: not an NFL partner through or having an existing media 470 00:23:16,560 --> 00:23:19,439 Speaker 4: deal with the NFL, if you're seven hundred dollars is crazy. 471 00:23:19,640 --> 00:23:23,680 Speaker 1: That's an investment. Randall Williams Bloomberg News is US sports 472 00:23:23,720 --> 00:23:25,680 Speaker 1: business reporter. Thank you so much for joining us. 473 00:23:25,840 --> 00:23:26,800 Speaker 4: Thank you for having me. 474 00:23:27,440 --> 00:23:30,960 Speaker 2: Thank you Scarlett and Randall. Before we get back to football, 475 00:23:31,000 --> 00:23:34,920 Speaker 2: we turned to Chicago and the United Center, host side 476 00:23:34,920 --> 00:23:38,359 Speaker 2: of the Democratic National Convention this past week. Our colleagues 477 00:23:38,440 --> 00:23:41,040 Speaker 2: Joe Matthew and Kaylee Lions were there and got a 478 00:23:41,119 --> 00:23:44,840 Speaker 2: chance to sit down with Michael Reinsdorf, president of the 479 00:23:44,920 --> 00:23:49,760 Speaker 2: Chicago Bulls, and Danny Wurtz, CEO of the Chicago Blackhawks 480 00:23:49,760 --> 00:23:53,200 Speaker 2: to talk about how they turned the United Center into 481 00:23:53,280 --> 00:23:55,600 Speaker 2: the home of the convention. Here's a little bit of 482 00:23:55,640 --> 00:23:59,440 Speaker 2: their conversation, starting with Wortz saying, the ero is still 483 00:23:59,480 --> 00:24:01,960 Speaker 2: pointing up for live events, especially sports. 484 00:24:02,200 --> 00:24:05,480 Speaker 3: I think it seems like every year is bigger than 485 00:24:05,520 --> 00:24:07,280 Speaker 3: the last year. I think we had a record year 486 00:24:07,320 --> 00:24:11,240 Speaker 3: for other events outside of our two teams last season. 487 00:24:12,600 --> 00:24:15,800 Speaker 3: We obviously here across the board, Lollapalooza had record attendance 488 00:24:15,800 --> 00:24:19,000 Speaker 3: this year for live music and festivals. So again, I 489 00:24:19,040 --> 00:24:21,919 Speaker 3: think that desire to be connected, that desire for experience 490 00:24:22,400 --> 00:24:24,160 Speaker 3: and people willing to pay for it is still there. 491 00:24:24,200 --> 00:24:26,200 Speaker 3: So at least in that part of the business, for sure, 492 00:24:26,280 --> 00:24:30,840 Speaker 3: we see some nice tailwinds, whereas you know, other parts 493 00:24:30,840 --> 00:24:32,199 Speaker 3: of the business definitely see some of those. 494 00:24:32,480 --> 00:24:34,600 Speaker 9: I think it's helped that in the music industry changed 495 00:24:34,640 --> 00:24:37,800 Speaker 9: so much over the years that before putting out albums 496 00:24:37,920 --> 00:24:41,360 Speaker 9: was really made the money. Now it's touring, So now 497 00:24:41,359 --> 00:24:43,879 Speaker 9: you have all these acts, and so every year seems 498 00:24:43,880 --> 00:24:45,840 Speaker 9: like we're getting more and more acts. And how many 499 00:24:46,000 --> 00:24:47,720 Speaker 9: different concerts did we do last year? 500 00:24:48,040 --> 00:24:50,280 Speaker 3: I mean, I think we're almost eighty different content. 501 00:24:50,600 --> 00:24:51,800 Speaker 1: It's kind of crazy. 502 00:24:51,800 --> 00:24:53,600 Speaker 9: And so now we're building this music hall, which is 503 00:24:53,600 --> 00:24:56,439 Speaker 9: a six thousand seat venue and that's going to get 504 00:24:56,480 --> 00:24:59,159 Speaker 9: some of the smaller acts, and we don't see a 505 00:24:59,160 --> 00:25:00,160 Speaker 9: softening right now. 506 00:25:00,240 --> 00:25:02,760 Speaker 3: And especially in the markets like Chicago, which seems to 507 00:25:02,800 --> 00:25:05,320 Speaker 3: be able to absorb a tremendous amount of live events 508 00:25:05,320 --> 00:25:06,000 Speaker 3: and entertainment. 509 00:25:06,080 --> 00:25:08,720 Speaker 9: Sure, Chicago, Chicago loves is sports. 510 00:25:08,440 --> 00:25:12,560 Speaker 2: Chicago does love it sports that Chicago Bulls President Michael 511 00:25:12,600 --> 00:25:16,920 Speaker 2: Reinsdorf and Chicago Blackhawks CEO Danny Wurtz. Earlier this week, 512 00:25:17,119 --> 00:25:20,360 Speaker 2: as part of our special coverage of the DNC in Chicago, 513 00:25:20,640 --> 00:25:23,680 Speaker 2: they spoke with Balance of Power hosts Joe Matthew and 514 00:25:23,800 --> 00:25:27,440 Speaker 2: Kaylee Lyons. Listen to that full conversation now on the 515 00:25:27,440 --> 00:25:31,080 Speaker 2: Bloomberg Balance of Power podcast. Find that on Apple, Spotify 516 00:25:31,400 --> 00:25:34,960 Speaker 2: and all your favorite podcast platforms. Up next on the show, 517 00:25:35,000 --> 00:25:38,760 Speaker 2: we Get Ready for College Football with Gloria Navarrees, Commissioner 518 00:25:38,920 --> 00:25:41,199 Speaker 2: of the Mount in the West Conference. You're listening to 519 00:25:41,400 --> 00:25:45,479 Speaker 2: the Bloomberg Business of Sports from Bloomberg Radio around the world. 520 00:25:52,320 --> 00:25:55,440 Speaker 6: Miss the top headlines on Bloomberg Radio. Get the latest 521 00:25:55,440 --> 00:25:58,919 Speaker 6: news when you wanted, updated continuously throughout the day with 522 00:25:59,000 --> 00:25:59,880 Speaker 6: Bloomberg News. 523 00:26:00,080 --> 00:26:00,240 Speaker 2: Now. 524 00:26:00,600 --> 00:26:03,840 Speaker 6: Listen to Apple Car playing Android Auto with the Bloomberg 525 00:26:03,880 --> 00:26:08,480 Speaker 6: Business Act and anywhere you get your podcasts. You're listening 526 00:26:08,560 --> 00:26:12,360 Speaker 6: to Bloomberg Business of Sports from Bloomberg Radio. 527 00:26:13,200 --> 00:26:15,520 Speaker 2: Thanks for joining us on the Bloomberg Business of Sports show, 528 00:26:15,560 --> 00:26:17,320 Speaker 2: where we explore the big money issues in the world 529 00:26:17,359 --> 00:26:20,080 Speaker 2: of sports. I'm Michael Barr, along with Scarlett fu and 530 00:26:20,359 --> 00:26:24,879 Speaker 2: special guest host Vanessa Pernomo of Bloomberg Originals. We have 531 00:26:25,240 --> 00:26:30,240 Speaker 2: Gloria Navarez, commissioner a Mountain West Conference, old friend of 532 00:26:30,280 --> 00:26:34,680 Speaker 2: the show. Gloria, Welcome to the Bloomberg Business of Sports. 533 00:26:35,520 --> 00:26:37,280 Speaker 8: Thank you, Michael. Great to be back. 534 00:26:37,720 --> 00:26:41,480 Speaker 2: We were laughing off Mike that there used to be 535 00:26:42,680 --> 00:26:47,200 Speaker 2: an off season. There is no off season anymore, Gloria, right, 536 00:26:47,320 --> 00:26:47,800 Speaker 2: I think. 537 00:26:47,680 --> 00:26:49,800 Speaker 8: You know, college athletics used to have this rhythm or 538 00:26:49,880 --> 00:26:51,800 Speaker 8: that summer got a little bit quiet, but. 539 00:26:51,960 --> 00:26:56,520 Speaker 2: No longer now with so much you know aligned here, 540 00:26:56,920 --> 00:27:01,480 Speaker 2: the sec align there and there this new conference here, 541 00:27:01,920 --> 00:27:04,919 Speaker 2: How has it thrown everything up in the air And 542 00:27:05,080 --> 00:27:07,120 Speaker 2: what does it mean for the Mountain West Conference. 543 00:27:07,480 --> 00:27:09,879 Speaker 8: Well, you know, conference realignment used to be something that 544 00:27:10,000 --> 00:27:12,720 Speaker 8: happened like once a decade. In fact, the Mountain West 545 00:27:12,760 --> 00:27:15,399 Speaker 8: is pretty young relative to the other FBS leagues are 546 00:27:15,400 --> 00:27:17,680 Speaker 8: only twenty five years old, and we were the first 547 00:27:17,960 --> 00:27:21,240 Speaker 8: disruptor I would put forth, but now it's our every 548 00:27:21,320 --> 00:27:22,960 Speaker 8: day and it was I was laughing with one of 549 00:27:22,960 --> 00:27:25,840 Speaker 8: our athletic directors the other day, like, you know, I 550 00:27:26,440 --> 00:27:29,240 Speaker 8: had this feeling and sense that we're entering a period 551 00:27:29,280 --> 00:27:32,560 Speaker 8: of stability. The media contracts are pretty much settled. The 552 00:27:32,600 --> 00:27:37,360 Speaker 8: CFP is committed to ESPN for ten years. But then 553 00:27:37,600 --> 00:27:42,560 Speaker 8: that settled notion makes me panic about what's gonna happen. 554 00:27:46,440 --> 00:27:50,919 Speaker 8: You can't be complacent or you know, sit back for 555 00:27:51,000 --> 00:27:54,480 Speaker 8: a minute. Just over the past three five years, it 556 00:27:54,520 --> 00:27:56,760 Speaker 8: just feels like there's always something there is. 557 00:27:57,040 --> 00:28:00,840 Speaker 1: There's a lot of the realignments are taking place, and 558 00:28:00,880 --> 00:28:04,000 Speaker 1: you have Oklahoma joining the SEC, the Big twelve looks different. 559 00:28:04,080 --> 00:28:07,440 Speaker 1: There's an exodus from PAC twelve by USC and UCLA. 560 00:28:07,600 --> 00:28:12,000 Speaker 1: All these geographic ties have basically been eroded. For you, 561 00:28:12,080 --> 00:28:15,200 Speaker 1: as commissioner A Mountain West. How are you spending your 562 00:28:15,240 --> 00:28:17,840 Speaker 1: time right now in the final days before the season 563 00:28:17,880 --> 00:28:20,640 Speaker 1: gets started to kind of get your head around these 564 00:28:20,680 --> 00:28:22,879 Speaker 1: new alignments. 565 00:28:22,440 --> 00:28:25,280 Speaker 8: You know, And we we didn't really have any changes 566 00:28:25,320 --> 00:28:28,840 Speaker 8: to our membership, knock on wood, and we are really 567 00:28:28,960 --> 00:28:35,040 Speaker 8: excited for the CFP expanded playoff because you know, the 568 00:28:35,040 --> 00:28:39,719 Speaker 8: top five conference champions will be selected into the event 569 00:28:39,880 --> 00:28:43,920 Speaker 8: and seven teams will be selected at large. And you know, 570 00:28:44,120 --> 00:28:47,640 Speaker 8: no one's played a game yet, but our coaches went 571 00:28:47,680 --> 00:28:52,960 Speaker 8: out and scheduled extremely well. They very much challenged themselves. 572 00:28:52,960 --> 00:28:57,000 Speaker 8: We have the most number of games against A four 573 00:28:57,080 --> 00:28:59,720 Speaker 8: teams in the non conference we have thirty five. The 574 00:28:59,720 --> 00:29:02,960 Speaker 8: next closest league is at twenty six, right. 575 00:29:02,840 --> 00:29:05,080 Speaker 7: So you know, talking about that, and obviously you're talking 576 00:29:05,120 --> 00:29:08,440 Speaker 7: about Oregon State there and Washington State, you guys are 577 00:29:08,480 --> 00:29:10,400 Speaker 7: you will be playing them a lot. You know, what's 578 00:29:10,520 --> 00:29:13,240 Speaker 7: left of the PAC twelve as we talked about, you know, 579 00:29:13,320 --> 00:29:16,120 Speaker 7: realignment and everything like that. Is that something that you 580 00:29:16,280 --> 00:29:20,400 Speaker 7: think will continue to see in this realignments? And will 581 00:29:20,440 --> 00:29:24,080 Speaker 7: they join the Mountain West? Will they try and salvage 582 00:29:24,120 --> 00:29:26,000 Speaker 7: what is the Pack two? Do you think? 583 00:29:27,440 --> 00:29:30,840 Speaker 8: You know, those are questions for them to answer. We're 584 00:29:30,840 --> 00:29:34,440 Speaker 8: certainly excited about our scheduling agreement for this year in 585 00:29:34,600 --> 00:29:39,880 Speaker 8: discussions about next year, but you know, it's hard to 586 00:29:39,880 --> 00:29:40,920 Speaker 8: predict what will happen. 587 00:29:42,760 --> 00:29:47,360 Speaker 2: Okay, full disclosure here. You know, with the start of 588 00:29:47,480 --> 00:29:51,200 Speaker 2: the NCAA season, the first thing I'm going to is 589 00:29:51,240 --> 00:29:55,720 Speaker 2: the online sports betting sites and I'm doing my homework. Okay, 590 00:29:55,720 --> 00:29:57,440 Speaker 2: what do I want to do here? And it's there, 591 00:29:57,440 --> 00:30:00,400 Speaker 2: do I take this spread and that spread? And and 592 00:30:00,440 --> 00:30:03,600 Speaker 2: I know it's a question that has always asked about 593 00:30:03,760 --> 00:30:07,880 Speaker 2: online sports betting, but now there have been stories and 594 00:30:07,920 --> 00:30:11,200 Speaker 2: it's coming out even from NFL players that you know, 595 00:30:11,840 --> 00:30:15,400 Speaker 2: it's really starting to scare a lot of the players 596 00:30:15,440 --> 00:30:20,440 Speaker 2: because if something goes wrong, they're the ones that's going 597 00:30:20,480 --> 00:30:23,760 Speaker 2: to get blamed for it, and a lot of times unfairly. 598 00:30:23,800 --> 00:30:28,960 Speaker 8: So. Yeah, and sports wagering has been around for decades, 599 00:30:29,160 --> 00:30:32,640 Speaker 8: and you know, our main concern is the integrity of 600 00:30:32,720 --> 00:30:35,479 Speaker 8: the events. And because we're in the college sports space, 601 00:30:35,960 --> 00:30:40,120 Speaker 8: protection and care for our student athletes. You know, social 602 00:30:40,120 --> 00:30:46,240 Speaker 8: media has made it really easy for anonymous threats and 603 00:30:46,320 --> 00:30:49,680 Speaker 8: you know, negative chatter. You know, I experienced in basketball 604 00:30:50,440 --> 00:30:53,720 Speaker 8: men's basketball, a young man didn't play much, the game 605 00:30:53,760 --> 00:30:56,720 Speaker 8: was pretty much over, coach cleared the bench, he's out 606 00:30:56,720 --> 00:31:00,320 Speaker 8: there and he hit a fantastic long range shot and 607 00:31:00,600 --> 00:31:02,360 Speaker 8: you know, the game was over. The shot didn't make 608 00:31:02,400 --> 00:31:04,560 Speaker 8: a difference, but the crowd boot him and then he 609 00:31:04,640 --> 00:31:08,520 Speaker 8: got a ton of negative and death threats on social 610 00:31:08,880 --> 00:31:10,600 Speaker 8: because his shot covered the spread. 611 00:31:10,760 --> 00:31:14,440 Speaker 2: Yeah, yeah, see and full disclosure. Don't. I don't. I'm 612 00:31:14,480 --> 00:31:15,760 Speaker 2: with you. I don't get all of that. 613 00:31:15,880 --> 00:31:18,320 Speaker 7: It's not fair too in basketball where they're right next 614 00:31:18,360 --> 00:31:21,440 Speaker 7: to the athletes, so much close contact that they can 615 00:31:21,480 --> 00:31:22,360 Speaker 7: speak to them as well. 616 00:31:22,360 --> 00:31:25,640 Speaker 2: It's yeah, and by the way, full disclosure folks. Again, 617 00:31:26,800 --> 00:31:29,080 Speaker 2: when I do my betting, it's like, okay, I got 618 00:31:29,160 --> 00:31:34,080 Speaker 2: my twenty dollars, I'm ready to go. But yeah, it's like, 619 00:31:34,200 --> 00:31:37,920 Speaker 2: don't money. Don't be stupid, folks, don't go out there 620 00:31:37,960 --> 00:31:41,400 Speaker 2: and start betting house payments and car payments or the 621 00:31:41,600 --> 00:31:45,440 Speaker 2: kids college funds. PSA from Michael Barr. Thank you very really, 622 00:31:45,560 --> 00:31:46,520 Speaker 2: I'm sorry, go ahead. 623 00:31:46,800 --> 00:31:51,640 Speaker 8: But the other is, we take a lot of we 624 00:31:51,720 --> 00:31:54,400 Speaker 8: invest in a lot of efforts to monitor, not only 625 00:31:54,440 --> 00:31:57,520 Speaker 8: to protect the student athletes, but to detect trends both 626 00:31:57,520 --> 00:32:00,920 Speaker 8: in officiating, coaching, and playing. And you've seen a lot 627 00:32:00,960 --> 00:32:05,560 Speaker 8: more stories recently of geo targeting sports betting on phones 628 00:32:06,080 --> 00:32:09,080 Speaker 8: in venues that perhaps the only people that are in 629 00:32:09,200 --> 00:32:13,840 Speaker 8: are folks that shouldn't be betting. So the companies are 630 00:32:13,840 --> 00:32:16,360 Speaker 8: getting a lot more savvy and the technology as well 631 00:32:16,720 --> 00:32:20,600 Speaker 8: to help us try to monitor when folks are betting 632 00:32:20,600 --> 00:32:23,560 Speaker 8: and they shouldn't be or if game lines are moving 633 00:32:24,080 --> 00:32:29,440 Speaker 8: in an odd manner, or targeting those folks who are 634 00:32:29,600 --> 00:32:34,080 Speaker 8: lobbing threats into our coaches and student athletes immediately and 635 00:32:34,160 --> 00:32:38,560 Speaker 8: taking action accordingly both you know, through the gaming board 636 00:32:38,680 --> 00:32:40,880 Speaker 8: and the criminal system. 637 00:32:41,240 --> 00:32:45,120 Speaker 1: Who pays for that, who pays for that technology for 638 00:32:45,160 --> 00:32:48,560 Speaker 1: that monitoring? Is that the schools themselves through the ads 639 00:32:48,720 --> 00:32:50,440 Speaker 1: or does the conference pick that up. 640 00:32:51,880 --> 00:32:55,680 Speaker 8: The NCAA pays to cover all their championship events, and 641 00:32:55,800 --> 00:32:59,800 Speaker 8: each conference does their own thing to monitor their regular 642 00:32:59,760 --> 00:33:02,640 Speaker 8: SIS season a non conference, and then the schools do 643 00:33:02,760 --> 00:33:08,480 Speaker 8: a little bit more tactical education and monitoring with their participants. 644 00:33:09,800 --> 00:33:11,680 Speaker 7: You know, Gloria, you talked a little bit about, you know, 645 00:33:11,720 --> 00:33:16,000 Speaker 7: being excited about this expansion for college football playoffs and 646 00:33:16,520 --> 00:33:18,760 Speaker 7: how that will obviously bring more teams into the fold. 647 00:33:19,040 --> 00:33:22,240 Speaker 7: But at the same time, you know, this this gap, 648 00:33:22,680 --> 00:33:26,080 Speaker 7: it continues to grow in terms of revenue for the 649 00:33:26,120 --> 00:33:30,040 Speaker 7: power conferences, and it seems to just get bigger and bigger. 650 00:33:30,120 --> 00:33:33,360 Speaker 7: So how can you make sure that you are still 651 00:33:33,400 --> 00:33:37,160 Speaker 7: competing and that those spots are available to outside the 652 00:33:37,200 --> 00:33:38,680 Speaker 7: A four conferences. 653 00:33:39,520 --> 00:33:43,560 Speaker 8: Yeah, and that's been our number one priority among our 654 00:33:43,640 --> 00:33:47,640 Speaker 8: peer leagues, is in maintaining that access, and there has 655 00:33:47,680 --> 00:33:51,000 Speaker 8: been a canyon between the US and them for a 656 00:33:51,040 --> 00:33:54,520 Speaker 8: long time, and we're not trying to be them. You know, 657 00:33:54,560 --> 00:33:59,160 Speaker 8: we very much pride ourselves on developing, finding and developing 658 00:33:59,280 --> 00:34:04,600 Speaker 8: talent and developing it through sport and higher education. And 659 00:34:04,720 --> 00:34:06,600 Speaker 8: we as the Mountain West, were kind of unique in 660 00:34:06,640 --> 00:34:09,399 Speaker 8: that we do that not just at the student athlete level, 661 00:34:09,640 --> 00:34:11,960 Speaker 8: but at the head coach level, the ad level, and 662 00:34:12,000 --> 00:34:15,879 Speaker 8: the president level. We have a significant turnover in those 663 00:34:15,920 --> 00:34:20,480 Speaker 8: spots because I think we are jobs. Our institutions take 664 00:34:20,520 --> 00:34:22,560 Speaker 8: people who have tout that might not be on the 665 00:34:22,640 --> 00:34:27,239 Speaker 8: radar for others, and really developed them into elite performers. 666 00:34:27,680 --> 00:34:30,520 Speaker 8: And so you know, one example I give is that 667 00:34:30,640 --> 00:34:33,960 Speaker 8: San Diego State basketball team that went to the Final four. 668 00:34:34,040 --> 00:34:36,560 Speaker 8: They lost a lot of talent the next year, and 669 00:34:36,600 --> 00:34:40,279 Speaker 8: you know what ended up in the Sweet sixteen. We 670 00:34:40,680 --> 00:34:46,000 Speaker 8: just seem to have found our niche in reloading. 671 00:34:46,920 --> 00:34:51,120 Speaker 2: Women's sports. And there's one name that has been prominent 672 00:34:51,200 --> 00:34:55,760 Speaker 2: that knocked it sky high on the target, Caitlin Clark. 673 00:34:55,960 --> 00:34:58,160 Speaker 2: By the way, she should have been on the USA 674 00:34:58,239 --> 00:34:59,640 Speaker 2: women's basketball team, but that's not. 675 00:35:00,040 --> 00:35:00,520 Speaker 7: I don't think so. 676 00:35:00,760 --> 00:35:08,000 Speaker 2: Yeah, oh yeah, Bless their hearts, but we'll talk late. 677 00:35:08,280 --> 00:35:13,600 Speaker 2: But Caitlyn Clark, what she has done for women's sports 678 00:35:13,640 --> 00:35:17,040 Speaker 2: in general, I mean, you can't even measure it. 679 00:35:17,239 --> 00:35:20,080 Speaker 8: And it's been such a special moment. And for me, 680 00:35:20,320 --> 00:35:24,520 Speaker 8: the kickoff point was it was unfortunate but the scrutiny 681 00:35:24,600 --> 00:35:27,560 Speaker 8: to at the women's basketball tournament in the NCAA a 682 00:35:27,560 --> 00:35:30,680 Speaker 8: couple of years back. But the response to that, I 683 00:35:30,760 --> 00:35:35,319 Speaker 8: thought was, especially in the media, an awakening of renaissance 684 00:35:35,680 --> 00:35:39,040 Speaker 8: that really helped us shine a light on this tremendous 685 00:35:39,080 --> 00:35:42,759 Speaker 8: thing that is women's sports. And certainly Caitlyn Clark has 686 00:35:42,840 --> 00:35:46,000 Speaker 8: taken that mantle and skyrocketed and it's so fun to 687 00:35:46,040 --> 00:35:49,799 Speaker 8: watch her play. But the broader effect of you know, 688 00:35:50,040 --> 00:35:54,799 Speaker 8: the viewership around volleyball and a lot of other sports is, 689 00:35:55,200 --> 00:35:56,640 Speaker 8: you know, a lot of us who've been in this 690 00:35:56,760 --> 00:36:02,120 Speaker 8: industry a long time are just finally the final world 691 00:36:02,239 --> 00:36:03,920 Speaker 8: is waking up to what a great thing this is. 692 00:36:04,640 --> 00:36:07,920 Speaker 7: Yeah, yeah, Michael, I'm glad you brought that up. You know, Gloria, 693 00:36:07,960 --> 00:36:11,120 Speaker 7: I played college soccer, and you know, looking at everything 694 00:36:11,120 --> 00:36:15,040 Speaker 7: that's changing in this landscape, it just feels like more 695 00:36:15,120 --> 00:36:18,440 Speaker 7: and more is being placed on any importance of football 696 00:36:18,480 --> 00:36:21,080 Speaker 7: and these revenue generating sports, and obviously what kit Clark 697 00:36:21,080 --> 00:36:23,840 Speaker 7: did was amazing, but when we look at those revenue 698 00:36:23,920 --> 00:36:26,680 Speaker 7: generating sports, and you know, being on campus with them, 699 00:36:26,719 --> 00:36:28,920 Speaker 7: I remember looking at what they had and what we 700 00:36:29,000 --> 00:36:31,520 Speaker 7: didn't have. How do you make sure that with all 701 00:36:31,600 --> 00:36:34,640 Speaker 7: these changes with NIL and all these things that are 702 00:36:34,680 --> 00:36:38,120 Speaker 7: being propelled by football and the transfer portal and things 703 00:36:38,160 --> 00:36:42,160 Speaker 7: like that, that those other sports, Olympic style sports, are 704 00:36:42,200 --> 00:36:45,000 Speaker 7: still being taken care of and are still important. 705 00:36:44,800 --> 00:36:49,360 Speaker 8: You know. And that's why I love college athletics because 706 00:36:49,480 --> 00:36:52,520 Speaker 8: our mission and core value both that the league and 707 00:36:52,600 --> 00:37:01,280 Speaker 8: our campuses are about inclusion and educating and growing young people. 708 00:37:01,360 --> 00:37:05,120 Speaker 8: And certainly we all acknowledge football drives that engine. It 709 00:37:05,200 --> 00:37:10,400 Speaker 8: provides the resources, and we work really hard to ensure 710 00:37:10,600 --> 00:37:13,879 Speaker 8: that a were competitive in football, and when we are, 711 00:37:14,320 --> 00:37:18,279 Speaker 8: we provide a broad based sport offering to our other 712 00:37:18,320 --> 00:37:22,759 Speaker 8: sports and championships and work toward bringing those up to 713 00:37:23,560 --> 00:37:27,719 Speaker 8: either net neutral or generating revenue. And that is part 714 00:37:27,760 --> 00:37:31,520 Speaker 8: of what's special about college athletics because it is part 715 00:37:31,560 --> 00:37:33,240 Speaker 8: of our DNA. 716 00:37:33,960 --> 00:37:36,719 Speaker 2: Okay, now see, I know we got to wrap this up, 717 00:37:36,800 --> 00:37:40,759 Speaker 2: but see I can't leave it like this because Vanessa says, no, 718 00:37:41,600 --> 00:37:44,200 Speaker 2: you shouldn't have been on the team. Here's my thing. 719 00:37:44,440 --> 00:37:48,200 Speaker 2: Everything is a business, and if you get Caitlin Clark's 720 00:37:48,280 --> 00:37:51,759 Speaker 2: name in there, I guarantee you you're going to see 721 00:37:51,800 --> 00:37:57,799 Speaker 2: more eyeballs on watching the women's US team. Now, So 722 00:37:57,840 --> 00:38:01,399 Speaker 2: that's my side. I know you got your side. We'll 723 00:38:01,480 --> 00:38:01,680 Speaker 2: leave it. 724 00:38:04,440 --> 00:38:06,000 Speaker 8: Whether you think you should have been on the team 725 00:38:06,120 --> 00:38:09,600 Speaker 8: or not. I absolutely love that this is a national 726 00:38:09,719 --> 00:38:10,720 Speaker 8: topic for debate. 727 00:38:10,840 --> 00:38:15,120 Speaker 2: Yes, Gloria Navarre's commissioner of the Mountain West Conference. Thank 728 00:38:15,160 --> 00:38:17,200 Speaker 2: you so much, Gloria for joining us on the Bloomberg 729 00:38:17,200 --> 00:38:19,040 Speaker 2: Business of Sports. We really do appreciate it. 730 00:38:19,320 --> 00:38:20,680 Speaker 8: Thank you so much. Appreciate you. 731 00:38:20,920 --> 00:38:24,080 Speaker 2: Hey, thank you for joining us on the Bloomberg Business 732 00:38:24,160 --> 00:38:25,960 Speaker 2: of Sports. We are here each and every week at 733 00:38:25,960 --> 00:38:29,320 Speaker 2: the same time for my colleague Scarlett fou and Vanessa Perdomo. 734 00:38:29,400 --> 00:38:31,560 Speaker 2: I'm Michael Barr. Tune in again next week for the 735 00:38:31,640 --> 00:38:33,840 Speaker 2: latest one of the stories moving big money in the 736 00:38:33,840 --> 00:38:37,200 Speaker 2: world sports. You're listening to Bloomberg Business of Sports from 737 00:38:37,200 --> 00:38:39,400 Speaker 2: Bloomberg Radio around the world.