1 00:00:00,040 --> 00:00:09,360 Speaker 1: Bloomberg Audio Studios, Podcasts, radio News. This is the Business 2 00:00:09,400 --> 00:00:10,160 Speaker 1: of Sports. 3 00:00:10,200 --> 00:00:13,560 Speaker 2: Sports are the greatest unscripted show owner. 4 00:00:13,520 --> 00:00:15,680 Speaker 3: The next generation of players who really grew up with 5 00:00:15,760 --> 00:00:17,080 Speaker 3: tech and believe in tech. 6 00:00:17,160 --> 00:00:19,479 Speaker 4: Your face is your ticket, your face is your wallet, 7 00:00:19,560 --> 00:00:21,320 Speaker 4: your face is your access to a club. 8 00:00:21,440 --> 00:00:25,120 Speaker 2: These are such iconic and important buildings for businesses. 9 00:00:25,280 --> 00:00:27,720 Speaker 5: For fans, COVID was one of the best things that 10 00:00:27,840 --> 00:00:28,680 Speaker 5: ever happened to go. 11 00:00:28,960 --> 00:00:31,040 Speaker 6: The NFL is a bulletproof business. 12 00:00:31,160 --> 00:00:33,800 Speaker 2: Racing is unique because there is absolutely no reason why 13 00:00:33,800 --> 00:00:35,919 Speaker 2: we can't compete with the guys. It's pro pickleball? 14 00:00:35,960 --> 00:00:37,959 Speaker 6: Real Are people really going to tune into this? 15 00:00:38,159 --> 00:00:40,680 Speaker 3: If you're playing moneyball with a huge bag of money, 16 00:00:40,880 --> 00:00:42,240 Speaker 3: you're going to be really, really good. 17 00:00:42,360 --> 00:00:45,879 Speaker 1: Bloomberg Business of Sports from Bloomberg Radio. 18 00:00:46,880 --> 00:00:49,800 Speaker 7: This is the Bloomberg Business of Sports, where we explore 19 00:00:49,800 --> 00:00:52,159 Speaker 7: the big money issues in the world of sports. I'm 20 00:00:52,159 --> 00:00:53,080 Speaker 7: Michael Barr and. 21 00:00:53,000 --> 00:00:56,080 Speaker 6: I'm Bloomberg US sports business reporter Randa Williams stepping in 22 00:00:56,160 --> 00:00:59,760 Speaker 6: for Damien sass Hour and of course Vanessa Perdomo. 23 00:01:00,000 --> 00:01:02,880 Speaker 7: And Vanessa will join us later in the show. Coming up, 24 00:01:02,960 --> 00:01:07,640 Speaker 7: we'll dive in on sports business journals, the influence one 25 00:01:07,840 --> 00:01:12,880 Speaker 7: twenty five. It's sbj's annual list of the most influential 26 00:01:12,920 --> 00:01:16,000 Speaker 7: figures in sports. We'll cover that and more on the 27 00:01:16,000 --> 00:01:19,559 Speaker 7: Bloomberg Business of Sports, but we start with some news 28 00:01:19,600 --> 00:01:23,280 Speaker 7: that broke late in the week. NASCAR and Michael Jordan 29 00:01:23,760 --> 00:01:27,720 Speaker 7: just settled a federal antitrust lawsuit that could have big 30 00:01:27,840 --> 00:01:30,520 Speaker 7: ramifications for how NASCAR operates. 31 00:01:30,760 --> 00:01:33,160 Speaker 6: I mean, finally, it's been going on for a really 32 00:01:33,200 --> 00:01:34,960 Speaker 6: long time, and I'm glad that it's over with. 33 00:01:35,319 --> 00:01:38,000 Speaker 7: Joining Randal and I to break down this story and 34 00:01:38,240 --> 00:01:42,119 Speaker 7: what's next is friend of the show Martin Eedle. He's 35 00:01:42,160 --> 00:01:45,360 Speaker 7: the co chair of Gulston and Stores Sports Law practice 36 00:01:45,560 --> 00:01:50,520 Speaker 7: and adjunct professor of Law at Columbia University. Martay, welcome 37 00:01:50,600 --> 00:01:52,600 Speaker 7: back to the Bloomberg Business of Sports. 38 00:01:52,760 --> 00:01:55,000 Speaker 3: It's so nice to be back with you and with 39 00:01:55,200 --> 00:01:55,960 Speaker 3: Randall today. 40 00:01:56,720 --> 00:02:02,120 Speaker 7: There is a lots of legal stories in sports. Probably 41 00:02:02,160 --> 00:02:06,040 Speaker 7: one of the biggest ones is that NASCAR settled with 42 00:02:06,240 --> 00:02:11,640 Speaker 7: Michael Jordan in his anti trust lawsuit. Tell us more about. 43 00:02:11,400 --> 00:02:15,440 Speaker 3: That, So first let me set the table of that's okay, 44 00:02:16,280 --> 00:02:20,399 Speaker 3: Michael Jordan and his team twenty three to eleven ended 45 00:02:20,480 --> 00:02:24,560 Speaker 3: up suing NASCAR on what's called a Section two claim 46 00:02:24,639 --> 00:02:30,960 Speaker 3: that's a monopolization claim. They claimed that NASCAR essentially was 47 00:02:31,080 --> 00:02:34,760 Speaker 3: using its monopoly power in the market for premiere stock 48 00:02:34,840 --> 00:02:41,679 Speaker 3: car racing to give unfair deals to teams and therefore 49 00:02:41,760 --> 00:02:46,600 Speaker 3: defans by limiting the number of competitions, limiting the way 50 00:02:46,680 --> 00:02:49,880 Speaker 3: in which teams could operate they had to use certain 51 00:02:49,960 --> 00:02:56,440 Speaker 3: cars which were only sourced by NASCAR's source, and limiting 52 00:02:56,480 --> 00:02:59,120 Speaker 3: the number of events. You had to sign it. You 53 00:02:59,240 --> 00:03:01,400 Speaker 3: got a charter and you had to sign in that 54 00:03:01,480 --> 00:03:05,280 Speaker 3: a non compete that you wouldn't compete another premiere stock 55 00:03:05,320 --> 00:03:09,639 Speaker 3: car racing. So Michael Jordan and his team sued. After 56 00:03:09,760 --> 00:03:14,800 Speaker 3: negotiations to resolve it broke down. The trial went on, 57 00:03:15,160 --> 00:03:19,960 Speaker 3: as I think, for about ten days, and then all 58 00:03:20,000 --> 00:03:23,560 Speaker 3: of a sudden they announced a settlement thing go, so 59 00:03:23,600 --> 00:03:27,760 Speaker 3: here we are today, and that was Wednesday. 60 00:03:28,320 --> 00:03:30,560 Speaker 6: So I guess my question is what is the larger 61 00:03:30,560 --> 00:03:32,880 Speaker 6: effect of this lawsuit going to be? How's it going 62 00:03:32,919 --> 00:03:35,480 Speaker 6: to affect NASCAR and shake this for the common fan, 63 00:03:35,520 --> 00:03:37,560 Speaker 6: someone who's like, oh, NASCAR's on, let me sit down 64 00:03:37,600 --> 00:03:39,320 Speaker 6: and watch. Is there anything that is going to be 65 00:03:39,560 --> 00:03:41,760 Speaker 6: different from either what you're going to see on the 66 00:03:41,800 --> 00:03:43,480 Speaker 6: track or the business. 67 00:03:43,080 --> 00:03:47,640 Speaker 3: Of it, so nothing on the track. I don't think 68 00:03:48,240 --> 00:03:53,840 Speaker 3: there will be differences in the business. For example, they're 69 00:03:53,840 --> 00:03:57,720 Speaker 3: going to reinstitute something called the three strike rule, which 70 00:03:57,800 --> 00:04:00,880 Speaker 3: is if a team does not want to compete in 71 00:04:01,000 --> 00:04:07,080 Speaker 3: three NASCAR events, it can opt out and start to 72 00:04:07,120 --> 00:04:12,200 Speaker 3: compete in other premier stock car racing events. It's pretty 73 00:04:12,200 --> 00:04:14,280 Speaker 3: easy to say I don't want to compete in event X, 74 00:04:14,880 --> 00:04:17,960 Speaker 3: so that will open the market for more premiere stock 75 00:04:18,000 --> 00:04:22,120 Speaker 3: car racing events. I don't know if there's going I 76 00:04:22,160 --> 00:04:25,080 Speaker 3: don't have the detail all the details yet of the settlement, 77 00:04:25,600 --> 00:04:27,240 Speaker 3: but I don't know if there's going to be a 78 00:04:27,279 --> 00:04:31,320 Speaker 3: limitation on the single source supply for how cars are designed, 79 00:04:32,680 --> 00:04:34,600 Speaker 3: and that could if there is, that could have a 80 00:04:34,640 --> 00:04:38,800 Speaker 3: big effect on the economics for teams. And the third 81 00:04:38,839 --> 00:04:41,080 Speaker 3: aspect which this will change is it's going to be 82 00:04:41,080 --> 00:04:45,400 Speaker 3: a change in governance of NASCAR. The teams will have 83 00:04:45,480 --> 00:04:51,840 Speaker 3: more input, so you might see a broader democratization of 84 00:04:51,880 --> 00:04:55,520 Speaker 3: how NASCAR is run, how it's going to sell itself 85 00:04:55,560 --> 00:04:59,960 Speaker 3: to fans, to the media, and the number of events 86 00:05:00,160 --> 00:05:03,200 Speaker 3: it will be sponsoring. So I think the ultimate outcome 87 00:05:03,279 --> 00:05:06,440 Speaker 3: is we're going to see more premier stock car racing events. 88 00:05:08,400 --> 00:05:10,200 Speaker 3: The media will have to decide if it wants to 89 00:05:10,360 --> 00:05:14,920 Speaker 3: buy into more, but fans will have lots more opportunities 90 00:05:14,960 --> 00:05:18,320 Speaker 3: to see them, and teams will have the opportunity to 91 00:05:18,360 --> 00:05:21,960 Speaker 3: make more money now rather than the fixed amount they 92 00:05:22,000 --> 00:05:26,800 Speaker 3: can get from NASCAR, which means it should dribble down 93 00:05:26,839 --> 00:05:30,200 Speaker 3: at least to drivers and race car crews as well, 94 00:05:30,320 --> 00:05:33,080 Speaker 3: so maybe everybody will benefit. 95 00:05:34,200 --> 00:05:38,239 Speaker 7: The settlement from NASCAR means it will give all teams 96 00:05:38,320 --> 00:05:41,960 Speaker 7: permanent charters. And what that means is the settlement means 97 00:05:42,000 --> 00:05:45,279 Speaker 7: thirty six teams will have a guaranteed spot in every 98 00:05:45,520 --> 00:05:50,039 Speaker 7: top level Cup Series race, which brings me to an 99 00:05:50,120 --> 00:05:55,800 Speaker 7: old man observation. Back in the day, if you didn't 100 00:05:55,920 --> 00:05:59,200 Speaker 7: qualify for the race, you just didn't qualify for the race. 101 00:05:59,760 --> 00:06:02,279 Speaker 7: And now, you know, then they started with you know, 102 00:06:02,400 --> 00:06:05,240 Speaker 7: free passes to get in to raise a certain number 103 00:06:05,240 --> 00:06:09,479 Speaker 7: of free passes. Now you're going to make every race. 104 00:06:10,279 --> 00:06:13,560 Speaker 7: I wonder, Marty, how that's going to impact from the 105 00:06:13,640 --> 00:06:16,120 Speaker 7: old school NASCAR fans. 106 00:06:16,520 --> 00:06:20,479 Speaker 3: Well, it will certainly change the model, Michael. What you 107 00:06:20,520 --> 00:06:22,799 Speaker 3: will have now is you will have a guaranteed number 108 00:06:22,839 --> 00:06:26,200 Speaker 3: of slots unless a team decides to use one of 109 00:06:26,240 --> 00:06:29,600 Speaker 3: its strikes not to compete in a particular event. So 110 00:06:29,640 --> 00:06:34,279 Speaker 3: you have thirty six guaranteed slots and now you will 111 00:06:34,320 --> 00:06:37,919 Speaker 3: open it up for whoever else is out there. But 112 00:06:38,360 --> 00:06:42,200 Speaker 3: the teams can invest in their races knowing that they 113 00:06:42,240 --> 00:06:48,440 Speaker 3: will be admitted to all these events. That's a big change. 114 00:06:50,600 --> 00:06:54,320 Speaker 6: So one of my last questions is this. The overall 115 00:06:54,360 --> 00:06:56,599 Speaker 6: takeaway from fans is that this seems to be good 116 00:06:56,600 --> 00:07:00,320 Speaker 6: for the sport in that it resembles some of the 117 00:07:00,360 --> 00:07:03,279 Speaker 6: other sporting leagues like the NFL and NBA and MLB 118 00:07:03,640 --> 00:07:07,800 Speaker 6: with their franchises that you know, you have thirty two 119 00:07:07,800 --> 00:07:10,440 Speaker 6: in the NFL and thirty in the NBA, and NASCAR 120 00:07:10,840 --> 00:07:14,280 Speaker 6: will seemingly have thirty six, which they're calling charters. I 121 00:07:14,280 --> 00:07:18,480 Speaker 6: wonder how do you view the potential team sales side 122 00:07:18,480 --> 00:07:20,640 Speaker 6: of this. I mean, we've seen some people buy in 123 00:07:20,720 --> 00:07:24,440 Speaker 6: and create teams, but I wonder now that this is 124 00:07:24,480 --> 00:07:28,120 Speaker 6: sort of separate, separating, or it looks looks different. Do 125 00:07:28,200 --> 00:07:31,360 Speaker 6: you see different teams being like, you know what, now 126 00:07:31,400 --> 00:07:33,800 Speaker 6: that I have a little bit more leverage, I kind 127 00:07:33,800 --> 00:07:35,080 Speaker 6: of went out of this NASCAR thing. 128 00:07:35,440 --> 00:07:36,360 Speaker 2: What's the price on this? 129 00:07:37,880 --> 00:07:41,160 Speaker 3: So that's a great, great question. I think the answer 130 00:07:41,200 --> 00:07:46,239 Speaker 3: is we saw the team value for NASCART sanctioned teams 131 00:07:46,840 --> 00:07:50,400 Speaker 3: rising during the twenty tens. Then they sort of came 132 00:07:50,480 --> 00:07:53,000 Speaker 3: to a whole. I think we're going to see dramatic 133 00:07:53,120 --> 00:07:56,360 Speaker 3: increase again because if you're a team and you have 134 00:07:56,400 --> 00:08:00,320 Speaker 3: a charter, you're guaranteed to compete. So the value of 135 00:08:00,320 --> 00:08:02,480 Speaker 3: your team, knowing that you're going to be in all 136 00:08:02,520 --> 00:08:07,480 Speaker 3: these events, should go up. You'll be able to recruit 137 00:08:07,560 --> 00:08:13,160 Speaker 3: better drivers, better pit teams, all of which should work 138 00:08:13,240 --> 00:08:16,280 Speaker 3: to enhance the value of the team when you want 139 00:08:16,320 --> 00:08:18,360 Speaker 3: to when you as an owner want to sell out. 140 00:08:20,000 --> 00:08:23,840 Speaker 7: Let's go back to what really set this whole thing 141 00:08:23,880 --> 00:08:28,800 Speaker 7: off in the first place. NASCAR they know they've found 142 00:08:28,800 --> 00:08:31,800 Speaker 7: it and privately owned by the Florida Bays France family. 143 00:08:32,559 --> 00:08:36,360 Speaker 7: And according to the testimony that NASCAR Chim and Jim 144 00:08:36,400 --> 00:08:42,240 Speaker 7: Franz gave, he never really considered making charters permanent, but instead, 145 00:08:42,360 --> 00:08:47,360 Speaker 7: after a two plus year bitter negotiation, viewed NASCAR in 146 00:08:47,480 --> 00:08:49,760 Speaker 7: twenty twenty four presented to take it or leave it 147 00:08:49,880 --> 00:08:53,920 Speaker 7: final offer, and that's when it all blew up. Marty. 148 00:08:55,760 --> 00:08:59,440 Speaker 7: Take us now to today when we saw Michael Jordan 149 00:08:59,480 --> 00:09:01,920 Speaker 7: and NASCAR German Jim France standing side by side at 150 00:09:01,920 --> 00:09:02,440 Speaker 7: the courthouse. 151 00:09:04,080 --> 00:09:10,839 Speaker 3: Well, litigations make strange bedfellows. The settlements began, and this 152 00:09:10,920 --> 00:09:15,400 Speaker 3: is no coincidence, no small coincidence. Right after Jim Franz 153 00:09:15,440 --> 00:09:21,200 Speaker 3: got off the stand. You know, I think the twenty 154 00:09:21,200 --> 00:09:25,199 Speaker 3: three to eleven lawyers did a very good job across 155 00:09:25,280 --> 00:09:31,200 Speaker 3: examining him. That made that ought to make a lawyer 156 00:09:31,280 --> 00:09:34,200 Speaker 3: go back to his client and say, look, you're not 157 00:09:34,600 --> 00:09:36,680 Speaker 3: You may not get out of this one hundred percent, 158 00:09:36,880 --> 00:09:41,240 Speaker 3: So aren't we better off trying to negotiate a resolution here? 159 00:09:42,120 --> 00:09:44,640 Speaker 3: And the dynamics were that, as I understand it, at 160 00:09:44,720 --> 00:09:50,560 Speaker 3: least the negotiations resumed over settlement almost immediately after France 161 00:09:50,600 --> 00:09:54,240 Speaker 3: got off the stand and concluded. I think I said 162 00:09:54,240 --> 00:09:59,120 Speaker 3: once it was actually yesterday morning, got it, and he's 163 00:09:59,160 --> 00:10:01,360 Speaker 3: going to have to see. Part of the settlement is 164 00:10:01,880 --> 00:10:06,479 Speaker 3: NASCAR will be more inclusive of the teams in governance, 165 00:10:07,440 --> 00:10:11,240 Speaker 3: which means a France family will have greater limitations on 166 00:10:11,320 --> 00:10:15,920 Speaker 3: its ability to run NASCAR sort of as a fiefdom. 167 00:10:16,600 --> 00:10:21,000 Speaker 3: And that's probably for the good because diversity in ownership 168 00:10:21,120 --> 00:10:28,320 Speaker 3: creates different dynamics and brings different pluses economically, socially to 169 00:10:28,480 --> 00:10:31,440 Speaker 3: the table than you have if you have a single owner. 170 00:10:31,800 --> 00:10:34,760 Speaker 7: Well, what other sport could this spread into? 171 00:10:35,640 --> 00:10:39,600 Speaker 3: Well another great question. So if you look at and Randall, 172 00:10:39,640 --> 00:10:42,120 Speaker 3: I'll go back to your example of the NFL, how 173 00:10:42,160 --> 00:10:45,479 Speaker 3: many of the teams are still owned by the families 174 00:10:46,480 --> 00:10:50,200 Speaker 3: before you have the maras of now with the tishes 175 00:10:50,760 --> 00:10:54,600 Speaker 3: owning the giants. But basically they're all corporate run because 176 00:10:54,640 --> 00:10:59,920 Speaker 3: the amount of capital needed to create the stadium refer 177 00:11:00,000 --> 00:11:04,000 Speaker 3: Irbush the stadium, have all the training facilities and hire 178 00:11:04,080 --> 00:11:09,440 Speaker 3: the coaches, trainers and of course the players. That amount 179 00:11:09,480 --> 00:11:11,520 Speaker 3: of capital is enormous. So they're going to go to 180 00:11:11,559 --> 00:11:15,520 Speaker 3: public markets or even private equity markets. The NFL this 181 00:11:15,640 --> 00:11:18,520 Speaker 3: year announced they were allowing private equity to buy in. 182 00:11:19,400 --> 00:11:24,199 Speaker 3: I think you'll see the same phenomenon now with NASCAR teams. 183 00:11:25,360 --> 00:11:29,920 Speaker 3: They'll want to win. The incentive to win is greater 184 00:11:30,320 --> 00:11:33,120 Speaker 3: because now they're part of the whole structure. They can 185 00:11:33,160 --> 00:11:36,880 Speaker 3: control the events, they can control the purses that they get. 186 00:11:38,200 --> 00:11:39,920 Speaker 3: But to get to that, they're going to have to 187 00:11:40,000 --> 00:11:43,720 Speaker 3: invest in their teams. Where is that capital going to 188 00:11:43,760 --> 00:11:46,760 Speaker 3: come from? So we may be looking at greater investments 189 00:11:46,800 --> 00:11:51,040 Speaker 3: from public and private markets. As for other leads where 190 00:11:51,120 --> 00:11:56,960 Speaker 3: this may exist or could exist, Look to tennis and golf. 191 00:11:59,040 --> 00:12:01,760 Speaker 3: What are they going to be doing in the not 192 00:12:01,880 --> 00:12:08,960 Speaker 3: too distant future. You know, how can a golf team, 193 00:12:09,120 --> 00:12:12,840 Speaker 3: you know, even somebody as dynamic as Scottie Shuffler, how 194 00:12:12,920 --> 00:12:16,320 Speaker 3: is he going to finance everything that he does? 195 00:12:16,960 --> 00:12:21,240 Speaker 7: Well, this is definitely going to impact forget just racing, 196 00:12:21,240 --> 00:12:25,360 Speaker 7: but it's going to impact the entire sports industry, private equity, 197 00:12:25,400 --> 00:12:32,800 Speaker 7: private equity, private equity. Marty, you are so kind to 198 00:12:32,920 --> 00:12:36,560 Speaker 7: join us again. We really appreciate you man. Thanks again, 199 00:12:36,640 --> 00:12:40,440 Speaker 7: sir our, thanks to Marty Eedle for joining us. He's 200 00:12:40,480 --> 00:12:44,000 Speaker 7: coach chair at Gulstend and Stores Sports Law practice and 201 00:12:44,040 --> 00:12:48,440 Speaker 7: an adjunct professor of law at Columbia University. Up next, 202 00:12:48,520 --> 00:12:51,120 Speaker 7: Randa william Sticks with us to help us go over 203 00:12:51,200 --> 00:12:53,560 Speaker 7: some of the other breaking stories this week in the 204 00:12:53,559 --> 00:12:57,080 Speaker 7: world of college sports. I'm Michael Varr. You are listening 205 00:12:57,120 --> 00:13:00,840 Speaker 7: to Bloomberg Business of Sports Bloomberg Radio around the world. 206 00:13:04,600 --> 00:13:08,559 Speaker 1: This is Bloomberg Business of Sports from Bloomberg Radio. 207 00:13:10,480 --> 00:13:13,040 Speaker 7: This is the Bloomberg Business of Sports where we explore 208 00:13:13,080 --> 00:13:15,000 Speaker 7: the nick money issues in the world of sports. 209 00:13:15,080 --> 00:13:16,960 Speaker 2: I'm Michael Barr, I'm Damian Tassaur. 210 00:13:17,679 --> 00:13:20,960 Speaker 7: Still ahead. We'll talk with our partners at Sports Business 211 00:13:21,040 --> 00:13:25,800 Speaker 7: Journal about the Influence one twenty five. It's the annual 212 00:13:25,880 --> 00:13:29,679 Speaker 7: list of the most influential figures in sports. But before 213 00:13:29,800 --> 00:13:33,120 Speaker 7: we get there, we need to talk some big headlines 214 00:13:33,240 --> 00:13:36,240 Speaker 7: in the college ranks. The University of Utah is on 215 00:13:36,280 --> 00:13:39,000 Speaker 7: the brink of a brand new deal with a relatively 216 00:13:39,200 --> 00:13:44,080 Speaker 7: new private equity firm, Outro Capital. Bloomberg US sports business 217 00:13:44,080 --> 00:13:46,960 Speaker 7: reporter Randall Williams he's still with us because he's got 218 00:13:46,960 --> 00:13:50,760 Speaker 7: a full head of knowledge and he's done reporting on 219 00:13:50,840 --> 00:13:54,880 Speaker 7: this first of a kind deal. Randall, thanks for your time, man, 220 00:13:55,240 --> 00:13:58,440 Speaker 7: Thank you for having me lots to talk about. Otro 221 00:13:58,559 --> 00:14:02,520 Speaker 7: Capital becomes the first PE firm to win college sports deal. 222 00:14:02,920 --> 00:14:03,800 Speaker 7: Tell us more about that. 223 00:14:04,440 --> 00:14:07,640 Speaker 6: Yeah, they're basically they've struck a deal with the Utah 224 00:14:08,679 --> 00:14:11,920 Speaker 6: aka the University of Utah, and a deal that is 225 00:14:11,960 --> 00:14:16,360 Speaker 6: going to see Otro become this essential for profit arm 226 00:14:16,559 --> 00:14:20,160 Speaker 6: for the university. They've talked about ticketing, they talked about sponsorship, 227 00:14:20,160 --> 00:14:22,200 Speaker 6: they were talking about all sorts of ways that they're 228 00:14:22,200 --> 00:14:24,120 Speaker 6: going to be able to make money. And private equity 229 00:14:24,160 --> 00:14:27,360 Speaker 6: has been hovering around college sports over the last couple 230 00:14:27,440 --> 00:14:29,480 Speaker 6: of over the last couple of years, and so it's 231 00:14:29,520 --> 00:14:33,560 Speaker 6: no surprise that one of these deals finally was inked 232 00:14:33,600 --> 00:14:35,000 Speaker 6: and signed, sealed and delivered. 233 00:14:35,440 --> 00:14:37,440 Speaker 2: Well, Randall, tell us a little bit about OTRO itself. 234 00:14:37,480 --> 00:14:39,760 Speaker 2: I believe it got funding from Colpers. I believe it's 235 00:14:39,760 --> 00:14:42,240 Speaker 2: a bunch of ex redbird folks. I think they made 236 00:14:42,240 --> 00:14:44,920 Speaker 2: an investment in F one. Maybe an Alpine talk to 237 00:14:45,000 --> 00:14:46,920 Speaker 2: us a little bit about the firm and you know 238 00:14:47,000 --> 00:14:48,600 Speaker 2: what we could hope to expect from them and how 239 00:14:48,600 --> 00:14:52,080 Speaker 2: they can hope to you know, expand the University of Utah. 240 00:14:52,280 --> 00:14:58,120 Speaker 6: Yeah, they are well seasoned sports executives who have experienced 241 00:14:58,160 --> 00:15:00,840 Speaker 6: from working in the NFL AT one Team Partners, which 242 00:15:00,880 --> 00:15:04,080 Speaker 6: is the joint venture between the NFLPA and the MLBPA. 243 00:15:04,680 --> 00:15:06,240 Speaker 6: They are some of the best in the business and 244 00:15:06,280 --> 00:15:09,000 Speaker 6: so they've made investments, as you said, in F one. 245 00:15:09,480 --> 00:15:11,800 Speaker 6: Now they're the first in college. I think the numbers 246 00:15:11,840 --> 00:15:15,960 Speaker 6: that are out there are about this Utah deal are 247 00:15:15,960 --> 00:15:16,920 Speaker 6: a little bit up in the air. 248 00:15:16,960 --> 00:15:17,680 Speaker 7: We don't know. 249 00:15:17,560 --> 00:15:20,240 Speaker 6: How much is the actual deal is valued. I don't 250 00:15:20,240 --> 00:15:22,880 Speaker 6: know how much Ultro is putting in and what Utah 251 00:15:22,920 --> 00:15:25,120 Speaker 6: is exactly going to do with the money, but I 252 00:15:25,160 --> 00:15:27,360 Speaker 6: think that they are a great firm to do a 253 00:15:27,400 --> 00:15:28,280 Speaker 6: deal with because of. 254 00:15:28,240 --> 00:15:29,520 Speaker 7: Who is doing it. 255 00:15:29,600 --> 00:15:31,760 Speaker 6: So this is one of the larger firms. I would 256 00:15:31,800 --> 00:15:35,320 Speaker 6: be a little bit weary on what their intentions are, 257 00:15:35,360 --> 00:15:37,720 Speaker 6: but Ultro has people that have worked in sports together. 258 00:15:37,760 --> 00:15:40,400 Speaker 6: So if Utah was going to do this with someone, 259 00:15:40,520 --> 00:15:41,920 Speaker 6: I think that Ultro is at the top. 260 00:15:41,760 --> 00:15:45,960 Speaker 7: Of the list. And they went to at least sixty 261 00:15:46,040 --> 00:15:50,600 Speaker 7: colleges maybe even more before they said okay, you're the winner. 262 00:15:51,280 --> 00:15:53,520 Speaker 6: Yeah, they probably had a lot of conversations, and I 263 00:15:53,560 --> 00:15:55,520 Speaker 6: think that there have been a lot of firms, even 264 00:15:55,520 --> 00:15:58,520 Speaker 6: outside of private equity. I think years ago there was 265 00:15:58,560 --> 00:16:01,840 Speaker 6: the rumor that Colorado had conversations with the sovereign wealth 266 00:16:01,840 --> 00:16:04,680 Speaker 6: firm and that the Big Ten had conversations with this 267 00:16:04,760 --> 00:16:07,480 Speaker 6: California pension fund and that deal has been placed on hold, 268 00:16:07,480 --> 00:16:10,880 Speaker 6: and so schools have been looking for money in a 269 00:16:11,000 --> 00:16:13,600 Speaker 6: multitude of ways. It's just that Utah found the right 270 00:16:13,640 --> 00:16:15,960 Speaker 6: partner and hopefully this helps them win a lot more 271 00:16:16,040 --> 00:16:18,640 Speaker 6: because in college where it's it's so much different than 272 00:16:18,720 --> 00:16:21,600 Speaker 6: in the NFL, but it's becoming more similar in that, 273 00:16:21,800 --> 00:16:23,880 Speaker 6: you know, winning leads to a lot of money and 274 00:16:24,040 --> 00:16:26,160 Speaker 6: If you can't make the College of Well playoff, if 275 00:16:26,160 --> 00:16:28,720 Speaker 6: you can't make things like the Elite Aid, the Sweet Sixteen, 276 00:16:28,800 --> 00:16:30,720 Speaker 6: the Final Four, then you know, how are you going 277 00:16:30,800 --> 00:16:32,400 Speaker 6: to pack out all of these arenas? How are you 278 00:16:32,400 --> 00:16:34,800 Speaker 6: going to convince your alumni in a place like Utah 279 00:16:34,840 --> 00:16:38,240 Speaker 6: like this isn't a state, right, Ohio or Indiana where 280 00:16:38,400 --> 00:16:41,280 Speaker 6: or even Illinois where you know they can be there 281 00:16:41,320 --> 00:16:43,480 Speaker 6: are tourist cities you can book venues well. 282 00:16:43,520 --> 00:16:45,440 Speaker 2: I mean, looking back, if I'm not mistaken, back in 283 00:16:45,480 --> 00:16:48,160 Speaker 2: twenty twenty three FSU there was talking about FSCU doing 284 00:16:48,240 --> 00:16:50,480 Speaker 2: a deal with Sixth Street or an Arctics. And then 285 00:16:50,800 --> 00:16:53,400 Speaker 2: I think just recently University of Michigan and maybe even 286 00:16:53,520 --> 00:16:55,160 Speaker 2: USC there were some talks that you know, they were 287 00:16:55,160 --> 00:16:57,080 Speaker 2: going to do something with private equity. I guess you 288 00:16:57,120 --> 00:16:59,120 Speaker 2: know the question I have Randall's what is private equity 289 00:16:59,120 --> 00:17:01,040 Speaker 2: going to do for these universe right? I mean, are 290 00:17:01,080 --> 00:17:03,320 Speaker 2: they really going to expand their gate receipts? Are they 291 00:17:03,320 --> 00:17:06,600 Speaker 2: really going to get bigger, better corporate sponsorships that are 292 00:17:06,600 --> 00:17:09,000 Speaker 2: more profitable that will flow directly to the university. And 293 00:17:09,040 --> 00:17:11,720 Speaker 2: I guess more importantly, what is the premium that they're 294 00:17:11,720 --> 00:17:14,600 Speaker 2: going to charge these universities for bringing those deals to bear. So, 295 00:17:14,960 --> 00:17:16,359 Speaker 2: you know, just talk to us a little bit. I mean, 296 00:17:16,400 --> 00:17:19,919 Speaker 2: what do you think, you know, the folks at at 297 00:17:20,000 --> 00:17:21,720 Speaker 2: Ultra were going to do. How are they gonna, you know, 298 00:17:21,720 --> 00:17:23,119 Speaker 2: how are they going to improve the management of the 299 00:17:23,160 --> 00:17:24,240 Speaker 2: university and its football program. 300 00:17:24,320 --> 00:17:25,560 Speaker 6: I think there's a couple of ways to look at it. 301 00:17:25,600 --> 00:17:28,280 Speaker 6: You look at it first in the traditional aspect of 302 00:17:28,320 --> 00:17:30,760 Speaker 6: what does private equity do in other sports, which is 303 00:17:30,880 --> 00:17:34,880 Speaker 6: provide solutions. In the NFL, for example, it's a state planning, 304 00:17:35,440 --> 00:17:37,960 Speaker 6: you know, relationships, it's getting people who want money out 305 00:17:38,000 --> 00:17:40,120 Speaker 6: of that. That side is not going to be happening 306 00:17:40,480 --> 00:17:43,960 Speaker 6: because no one person owns the University of Utah. However, 307 00:17:44,320 --> 00:17:46,280 Speaker 6: on the stadium side of things, let's just say that 308 00:17:46,359 --> 00:17:48,160 Speaker 6: they want to do a renovation, they want to redo 309 00:17:48,240 --> 00:17:50,480 Speaker 6: some suite. Ultro can come in and pay for that. 310 00:17:50,720 --> 00:17:52,879 Speaker 6: On the sponsorship side of things, I do think that 311 00:17:53,119 --> 00:17:56,200 Speaker 6: again that is linked to winning. If you are not winning, 312 00:17:56,200 --> 00:18:00,560 Speaker 6: you're not on nationally televised networks, then I would a 313 00:18:00,640 --> 00:18:02,959 Speaker 6: big time sponsor. Let's just say State Farm, for example, 314 00:18:03,080 --> 00:18:06,640 Speaker 6: want to partner with your university. I think that on 315 00:18:06,680 --> 00:18:09,200 Speaker 6: the revenue generation side, We're going to have to see 316 00:18:09,359 --> 00:18:11,720 Speaker 6: what sort of ways that Ultro is going to be 317 00:18:11,720 --> 00:18:16,680 Speaker 6: able to provide experience and some of some value. Because 318 00:18:16,760 --> 00:18:18,720 Speaker 6: it hasn't been done before. We haven't seen the sort 319 00:18:18,720 --> 00:18:20,440 Speaker 6: of value that they're going to be able to provide yet. 320 00:18:20,480 --> 00:18:22,280 Speaker 2: Well, one of the big selling points that I've heard 321 00:18:22,320 --> 00:18:24,120 Speaker 2: from a lot of these private equity firms is their 322 00:18:24,119 --> 00:18:26,040 Speaker 2: access to data and how they want to use I 323 00:18:26,040 --> 00:18:28,760 Speaker 2: don't know AI or just you know, proprietary data in 324 00:18:28,920 --> 00:18:33,480 Speaker 2: order to maybe I don't know, recruit better athletes, you know, 325 00:18:33,680 --> 00:18:36,560 Speaker 2: or improve their you know, their skills on the field. 326 00:18:36,600 --> 00:18:36,800 Speaker 3: You know. 327 00:18:36,880 --> 00:18:38,760 Speaker 2: Is that something that some of these private equity firms 328 00:18:38,920 --> 00:18:39,960 Speaker 2: are going to get into or is are going to 329 00:18:39,960 --> 00:18:42,639 Speaker 2: be strictly relegated to what you rightly point out, you know, 330 00:18:43,040 --> 00:18:46,679 Speaker 2: media deals, gate receipts, corporate sponsorships and the like. 331 00:18:47,280 --> 00:18:52,880 Speaker 6: I think that recruiting athletes from a technological standpoint, yes, 332 00:18:52,920 --> 00:18:55,120 Speaker 6: like they could invest in something and maybe help them 333 00:18:55,119 --> 00:18:59,200 Speaker 6: find better recruits. At the same time, there's a double 334 00:18:59,240 --> 00:19:01,480 Speaker 6: sided coin to NIOL, which is that it is the 335 00:19:01,520 --> 00:19:04,440 Speaker 6: great equalizer, and that's a school like Indiana can turn 336 00:19:04,480 --> 00:19:06,399 Speaker 6: into the number one school in the nation tomorrow. But 337 00:19:06,560 --> 00:19:08,960 Speaker 6: with the right coach, with the right program, with the 338 00:19:09,040 --> 00:19:11,520 Speaker 6: right people, and with the right athletes. Like this idea 339 00:19:11,640 --> 00:19:14,360 Speaker 6: that oh, you know, everybody's going to be paid and 340 00:19:14,520 --> 00:19:16,680 Speaker 6: such and such school can turn into a powerhouse tomorrow 341 00:19:16,760 --> 00:19:19,040 Speaker 6: is not true. Otherwise we would have seen it from 342 00:19:19,080 --> 00:19:20,960 Speaker 6: San Jose State. We would have seen it from other 343 00:19:21,280 --> 00:19:23,640 Speaker 6: smaller schools. If you get the right people. And there 344 00:19:23,640 --> 00:19:26,720 Speaker 6: are dozens of five star, four star, three star recruits 345 00:19:26,880 --> 00:19:28,639 Speaker 6: not only coming out of high school but in a 346 00:19:28,640 --> 00:19:31,040 Speaker 6: transfer portal, and we never see them play on Sundays. 347 00:19:31,080 --> 00:19:33,639 Speaker 6: We don't even know some of their names. Because it 348 00:19:33,760 --> 00:19:36,560 Speaker 6: takes a village. It isn't just a money making thing. 349 00:19:36,600 --> 00:19:36,760 Speaker 7: Now. 350 00:19:36,840 --> 00:19:40,600 Speaker 6: It's the greatest time for a college athlete ever because 351 00:19:40,760 --> 00:19:43,080 Speaker 6: there are no stakes to your performance. If you go 352 00:19:43,160 --> 00:19:44,760 Speaker 6: and you know, let's just say you enter the transfer 353 00:19:44,840 --> 00:19:47,200 Speaker 6: portal and someone offers you three hundred thousand dollars, that's 354 00:19:47,240 --> 00:19:50,480 Speaker 6: life changing money, whether you make it to Sundays or not. 355 00:19:50,640 --> 00:19:52,639 Speaker 6: And so I think private equity is going to have 356 00:19:52,680 --> 00:19:55,240 Speaker 6: an impact, But the idea that it's going to dramatically 357 00:19:55,280 --> 00:19:57,440 Speaker 6: impact recruiting, I'm not fully convinced on. 358 00:19:57,720 --> 00:19:59,320 Speaker 7: I want to go back to something you said, and 359 00:19:59,480 --> 00:20:02,680 Speaker 7: you said that the colleges they make the money when 360 00:20:03,080 --> 00:20:06,720 Speaker 7: they make the twelve or the final, you know, for 361 00:20:06,800 --> 00:20:09,560 Speaker 7: the four and all this other stuff, which brings me 362 00:20:09,920 --> 00:20:14,200 Speaker 7: to Notre Dame because they had been in the top 363 00:20:14,240 --> 00:20:17,600 Speaker 7: twelve all this time, and then all of a sudden 364 00:20:17,600 --> 00:20:20,639 Speaker 7: the committee said, nope, you're none. Yeah, and of course 365 00:20:20,760 --> 00:20:24,000 Speaker 7: Notre Dame they're up seven and ten potentially, Yeah, we're 366 00:20:24,040 --> 00:20:25,360 Speaker 7: not We're not going to any bowl. 367 00:20:26,520 --> 00:20:29,280 Speaker 6: I think the entire situation is funny because of the 368 00:20:29,320 --> 00:20:31,800 Speaker 6: fact that Notre Dame's conference plays a little wonky. Their 369 00:20:31,840 --> 00:20:32,879 Speaker 6: schedule is a little wonky. 370 00:20:32,880 --> 00:20:35,520 Speaker 2: That's right, you know, they're they had a kick schedule exactly. 371 00:20:35,600 --> 00:20:37,600 Speaker 2: I mean, let's be clear the one game. Look, they 372 00:20:37,640 --> 00:20:39,760 Speaker 2: lost two games by total of four points Michael Barr. 373 00:20:39,800 --> 00:20:41,520 Speaker 2: One of them was University of Miami, and they got 374 00:20:41,520 --> 00:20:43,960 Speaker 2: the at large bid. So I mean, look, there is 375 00:20:43,960 --> 00:20:45,520 Speaker 2: something to be said that when you line them up 376 00:20:45,520 --> 00:20:48,640 Speaker 2: against you know, now, what I think you're probably looking 377 00:20:48,680 --> 00:20:50,359 Speaker 2: at is you got to have a few more teams 378 00:20:50,400 --> 00:20:51,040 Speaker 2: in the playoffs. 379 00:20:51,359 --> 00:20:53,320 Speaker 6: I think I think they will expand it eventually. But 380 00:20:53,440 --> 00:20:56,240 Speaker 6: I think going back to the big picture conversation about 381 00:20:56,240 --> 00:20:58,840 Speaker 6: private equly, let's talk about these big money schools. Yeah, 382 00:20:59,000 --> 00:21:01,360 Speaker 6: Notre Dame has no issue with NIO money. Miami has 383 00:21:01,359 --> 00:21:04,760 Speaker 6: no issue with nil money. And yet they're still complaining about, oh, 384 00:21:04,800 --> 00:21:07,040 Speaker 6: we didn't get in, this isn't right, YadA, YadA, YadA. 385 00:21:07,119 --> 00:21:09,280 Speaker 6: And so the idea that you know, private equity could 386 00:21:09,280 --> 00:21:11,600 Speaker 6: come in and tomorrow, you know, strike to deal, Well, 387 00:21:11,600 --> 00:21:13,879 Speaker 6: if Notre Dame needed money, I can guarantee you they 388 00:21:13,920 --> 00:21:16,679 Speaker 6: would have it right now. They would have their choice 389 00:21:16,960 --> 00:21:19,239 Speaker 6: at what private equity firm they wouldn't want to partner with. 390 00:21:19,280 --> 00:21:22,400 Speaker 6: And so this temper tantrum I think is funny right now, 391 00:21:22,440 --> 00:21:24,359 Speaker 6: But in a couple of years it'll be solved. It'll 392 00:21:24,359 --> 00:21:26,399 Speaker 6: be sixteen teams, and I really think that should be 393 00:21:26,400 --> 00:21:29,160 Speaker 6: the cap. We don't need to turn college football into 394 00:21:29,160 --> 00:21:30,800 Speaker 6: March madness. It just doesn't need to be that. 395 00:21:31,160 --> 00:21:34,200 Speaker 7: Well, I'll tell you where there is a major problem. 396 00:21:34,560 --> 00:21:40,840 Speaker 7: I'm flabbergasted. Former Michigan football coach Sharon Moore. He went 397 00:21:40,880 --> 00:21:46,320 Speaker 7: to jail and they started because the university said that 398 00:21:46,400 --> 00:21:49,919 Speaker 7: he was having an inappropriate relationship with a staff member, 399 00:21:50,359 --> 00:21:55,160 Speaker 7: and then that led to police arresting him because of 400 00:21:55,200 --> 00:21:59,560 Speaker 7: what they only said was an assault. And how much 401 00:21:59,640 --> 00:22:02,400 Speaker 7: does this damage the University of Michigan football program. 402 00:22:02,520 --> 00:22:04,600 Speaker 6: It's a big hit, of course. I mean, I think 403 00:22:04,840 --> 00:22:07,040 Speaker 6: we've been talking a lot about recruiting and who's been. 404 00:22:06,960 --> 00:22:09,040 Speaker 2: The person he's underway? Yeah, I mean where does he go? 405 00:22:09,480 --> 00:22:10,520 Speaker 2: Who Bryce underway? 406 00:22:10,600 --> 00:22:10,959 Speaker 7: Exactly? 407 00:22:11,080 --> 00:22:14,040 Speaker 6: And you remember Bryce was committed to LSU for many, 408 00:22:14,080 --> 00:22:17,479 Speaker 6: many months until the likes of Allison and Tom Brady 409 00:22:17,520 --> 00:22:20,760 Speaker 6: and Portnoy put together some money to go and get him. 410 00:22:21,080 --> 00:22:21,920 Speaker 7: Does he leave? 411 00:22:21,960 --> 00:22:24,000 Speaker 6: We don't know. I think the impact on the university 412 00:22:24,080 --> 00:22:27,160 Speaker 6: is huge because one's it is a smear right now 413 00:22:27,240 --> 00:22:29,719 Speaker 6: that Michigan would have something like this going on, not 414 00:22:29,760 --> 00:22:32,080 Speaker 6: only for the university but also for him. At the 415 00:22:32,119 --> 00:22:35,160 Speaker 6: same time, it is now the most highly and highly 416 00:22:35,160 --> 00:22:38,960 Speaker 6: sought out job in college football by far. So it's 417 00:22:39,520 --> 00:22:41,920 Speaker 6: it's a very unfortunate situation. I think that there's a 418 00:22:41,960 --> 00:22:44,560 Speaker 6: lot of details that remain very murky right now. I'm 419 00:22:44,560 --> 00:22:46,400 Speaker 6: sure we'll discover in the days and weeks to come. 420 00:22:46,920 --> 00:22:50,320 Speaker 7: Well, I hate to put it like this. Does everybody 421 00:22:50,400 --> 00:22:55,000 Speaker 7: from former head coach Jim Harbow and that era, do 422 00:22:55,040 --> 00:22:56,120 Speaker 7: they need to clean house? 423 00:22:56,920 --> 00:22:59,680 Speaker 6: Good question. I think that whoever comes in will need 424 00:22:59,720 --> 00:23:02,679 Speaker 6: to be a general manager of the program in a 425 00:23:02,680 --> 00:23:04,800 Speaker 6: better way than Harball was. I mean, Harbball is of 426 00:23:04,840 --> 00:23:07,480 Speaker 6: course going to be remembered for a national championship. 427 00:23:07,000 --> 00:23:09,200 Speaker 2: Win because the the scandal. 428 00:23:09,400 --> 00:23:13,119 Speaker 6: The scandal, however, when I think winning just make dilutes 429 00:23:13,160 --> 00:23:16,920 Speaker 6: anything that goes on. And so there will be people 430 00:23:16,920 --> 00:23:19,440 Speaker 6: outside of Michigan will remember, oh he cheated, YadA, YadA, YadA. 431 00:23:19,480 --> 00:23:21,440 Speaker 6: But there are people within Michigan remember we won fifteen, 432 00:23:21,480 --> 00:23:22,639 Speaker 6: and oh we want to under seated and win the 433 00:23:22,720 --> 00:23:25,240 Speaker 6: national championship. I do think that whoever comes in needs 434 00:23:25,280 --> 00:23:26,760 Speaker 6: to be a better culture setter than both. 435 00:23:26,640 --> 00:23:30,320 Speaker 7: Of them, the late Gate who oh. I'm sure winning 436 00:23:30,400 --> 00:23:31,600 Speaker 7: does help, yeah. 437 00:23:31,640 --> 00:23:32,960 Speaker 2: But I mean, I mean, if you just think about 438 00:23:32,960 --> 00:23:34,359 Speaker 2: your own more. I mean, I think he's getting paid 439 00:23:34,359 --> 00:23:36,119 Speaker 2: something like six point one million dollars a year. He 440 00:23:36,200 --> 00:23:38,280 Speaker 2: just left into a five year contract. This is big money. 441 00:23:38,320 --> 00:23:41,480 Speaker 2: I think the buyout if I'm not mistaken, like double digits, 442 00:23:41,520 --> 00:23:44,720 Speaker 2: like thirteen fourteen million dollars if you know he was fired. 443 00:23:44,760 --> 00:23:47,119 Speaker 2: But this is obviously for cost sure, So it's just 444 00:23:47,160 --> 00:23:49,840 Speaker 2: your I means, the way these coaches are getting paid, it's. 445 00:23:49,720 --> 00:23:51,840 Speaker 6: The single that's the single most startling thing about it 446 00:23:51,880 --> 00:23:53,959 Speaker 6: is that there are a multitude of ways you can 447 00:23:54,000 --> 00:23:56,600 Speaker 6: be fired in college football nowadays, and this is just 448 00:23:56,640 --> 00:23:58,560 Speaker 6: not one that you would put on the list for 449 00:23:58,600 --> 00:24:01,600 Speaker 6: any coach college football, basket ball, or any other sport 450 00:24:01,640 --> 00:24:04,520 Speaker 6: out there because of the payouts. If you're going to 451 00:24:04,520 --> 00:24:07,119 Speaker 6: be a bad football team, then guess what, do not resign, 452 00:24:07,160 --> 00:24:09,640 Speaker 6: don't take another job, Just wait and wait and wait 453 00:24:09,760 --> 00:24:12,639 Speaker 6: until they get sick, and then they will send you 454 00:24:12,720 --> 00:24:15,480 Speaker 6: away and pay you and pay you out. And granted 455 00:24:15,480 --> 00:24:17,080 Speaker 6: they're going to try to decrease that money down the 456 00:24:17,119 --> 00:24:20,240 Speaker 6: same way that's happening at LSU. But we're talking about 457 00:24:20,240 --> 00:24:22,600 Speaker 6: fifty forty thirty million dollars to go sit on a 458 00:24:22,640 --> 00:24:26,320 Speaker 6: beach somewhere, and now because of this inappropriate relationship, allegedly 459 00:24:26,800 --> 00:24:28,120 Speaker 6: that he's going to get nothing. 460 00:24:28,280 --> 00:24:28,520 Speaker 2: Yeah. 461 00:24:28,560 --> 00:24:31,840 Speaker 7: Crazy, Okay, I know we got a wrap, But now 462 00:24:31,920 --> 00:24:36,879 Speaker 7: I'm just going to play that media reporter role. Now 463 00:24:36,920 --> 00:24:40,880 Speaker 7: do you ever think that Bill Belichick could be the 464 00:24:40,880 --> 00:24:44,280 Speaker 7: next at the University of Basica? 465 00:24:46,160 --> 00:24:46,879 Speaker 2: Asked Tom Brady. 466 00:24:47,119 --> 00:24:47,280 Speaker 5: No. 467 00:24:47,800 --> 00:24:51,760 Speaker 6: I mean I think that Belichick's contract and just the 468 00:24:51,760 --> 00:24:53,480 Speaker 6: way that things have gone to you and see, I 469 00:24:53,520 --> 00:24:57,120 Speaker 6: think the perception was to because Bill Belichick is a 470 00:24:57,160 --> 00:24:59,879 Speaker 6: football mastermind, that he would have step foot in chapel 471 00:25:00,240 --> 00:25:02,200 Speaker 6: and they would have at least had a winning record. 472 00:25:02,480 --> 00:25:04,440 Speaker 6: And it goes to show that his first year went 473 00:25:04,520 --> 00:25:06,879 Speaker 6: very similar to coach Prime's first year. It was trials 474 00:25:06,880 --> 00:25:09,239 Speaker 6: and tribulations. Now you take that and you bring him 475 00:25:09,240 --> 00:25:11,720 Speaker 6: to Michigan where you have donors, you have He's not 476 00:25:11,800 --> 00:25:15,280 Speaker 6: the biggest name there anymore. There are people funding this 477 00:25:15,359 --> 00:25:17,320 Speaker 6: that will be like, what are you doing? And also 478 00:25:17,480 --> 00:25:19,080 Speaker 6: you know the treatment of kids, and of course we 479 00:25:19,200 --> 00:25:22,520 Speaker 6: have yet to mention miss Jordan Hudson. How would the 480 00:25:22,640 --> 00:25:24,480 Speaker 6: university handle that? I don't think it's a headache that 481 00:25:24,520 --> 00:25:25,320 Speaker 6: Michigan wants. 482 00:25:26,200 --> 00:25:28,680 Speaker 7: Randall, you are the man. Thank you so much, Thanks 483 00:25:28,720 --> 00:25:31,760 Speaker 7: for us, Thank you for having me. Big special thank 484 00:25:31,800 --> 00:25:35,240 Speaker 7: you to Bloomberg US sports business reporter Randall Williams for 485 00:25:35,480 --> 00:25:38,520 Speaker 7: jumping in with us this week. Coming up, our partners 486 00:25:38,560 --> 00:25:42,600 Speaker 7: at Sports Business Journal are putting out its annual list 487 00:25:42,760 --> 00:25:46,679 Speaker 7: of influential figures in sports. We break down this year's 488 00:25:46,880 --> 00:25:51,240 Speaker 7: the Influence one twenty five from SBJ. Next for Damien 489 00:25:51,320 --> 00:25:55,320 Speaker 7: Sasaur and Bdessa Perdomo. I'm Michael Barr. You are listening 490 00:25:55,359 --> 00:25:58,879 Speaker 7: to Bloomberg Business of Sports Bloomberg Radio around the world. 491 00:26:03,000 --> 00:26:07,000 Speaker 1: This is Bloomberg Business of Sports from Bloomberg Radio. 492 00:26:08,520 --> 00:26:10,960 Speaker 7: Thanks for joining us on the Bloomberg Business of Sports. 493 00:26:11,160 --> 00:26:13,919 Speaker 7: We explore the big money issues in the will of sports. 494 00:26:14,000 --> 00:26:14,720 Speaker 7: I'm Michael Barr. 495 00:26:14,720 --> 00:26:17,160 Speaker 2: I'm Damian Sausauer, sports business journalist. 496 00:26:17,280 --> 00:26:20,760 Speaker 7: Partner with Bloomberg through our new subscription bundle, which gives 497 00:26:20,800 --> 00:26:26,280 Speaker 7: readers access to both Bloomberg's business reporting and sbjy's industry 498 00:26:26,400 --> 00:26:27,600 Speaker 7: leading sports coverage. 499 00:26:27,680 --> 00:26:31,040 Speaker 2: That's right, Michael Barr. Our partners at Sports Business Journal 500 00:26:31,160 --> 00:26:34,760 Speaker 2: just released the Influence one five is annual list of 501 00:26:34,800 --> 00:26:37,760 Speaker 2: the most influential figures in the world of sports. 502 00:26:37,840 --> 00:26:40,320 Speaker 7: And to tell us a little more about the list 503 00:26:40,359 --> 00:26:45,360 Speaker 7: this year, we welcome Ben Fisher, NFL beat writer at SBJ. 504 00:26:45,640 --> 00:26:49,560 Speaker 7: Hey there, Ben, Welcome to the Bloomberg Business of Sports. 505 00:26:49,680 --> 00:26:50,480 Speaker 5: Thanks for having me. 506 00:26:51,160 --> 00:26:56,080 Speaker 7: We have the new Influence one hundred and twenty five list. 507 00:26:56,280 --> 00:27:00,640 Speaker 7: Out anything in that list that jump sound in front 508 00:27:00,680 --> 00:27:01,080 Speaker 7: of you been. 509 00:27:01,640 --> 00:27:03,919 Speaker 5: You know it was. What was so useful to me 510 00:27:04,000 --> 00:27:07,000 Speaker 5: in this project was looking at the last twenty five 511 00:27:07,080 --> 00:27:11,080 Speaker 5: years as a single entity. So much has changed in sports. 512 00:27:11,160 --> 00:27:13,000 Speaker 5: You think back to what mattered in two thousand and 513 00:27:13,000 --> 00:27:15,400 Speaker 5: two thousand and one, two thousand and two and it's 514 00:27:15,480 --> 00:27:17,600 Speaker 5: just it was a mom and pop world in some 515 00:27:17,640 --> 00:27:19,520 Speaker 5: respects now, and the fact that there are you know, 516 00:27:19,600 --> 00:27:23,760 Speaker 5: private equity names and foreign government names on this list today. 517 00:27:23,840 --> 00:27:25,760 Speaker 5: You know, it's just interesting to see how far we've 518 00:27:25,760 --> 00:27:29,520 Speaker 5: come and how different power and influence is now versus 519 00:27:29,520 --> 00:27:31,920 Speaker 5: twenty five years ago. Home Trying to have an entire 520 00:27:31,920 --> 00:27:35,560 Speaker 5: list that encapsulates that entire period was a really rewarding 521 00:27:35,600 --> 00:27:38,800 Speaker 5: intellectual challenge in addition to just a fun read for 522 00:27:38,840 --> 00:27:39,600 Speaker 5: the end of the year too. 523 00:27:39,960 --> 00:27:43,160 Speaker 4: I love the idea of looking at the rum where 524 00:27:43,200 --> 00:27:46,840 Speaker 4: it happened, right those discussions, and I feel like that 525 00:27:46,840 --> 00:27:49,440 Speaker 4: that's just as interesting as who actually ended up making 526 00:27:49,440 --> 00:27:49,919 Speaker 4: the lists. 527 00:27:49,960 --> 00:27:51,879 Speaker 2: So bring us inside that room. 528 00:27:51,920 --> 00:27:54,800 Speaker 4: I mean, I know, a bunch of sports reporters getting 529 00:27:54,800 --> 00:27:58,760 Speaker 4: together in one room can be rather loud and feisty. 530 00:27:58,880 --> 00:28:01,280 Speaker 5: Right feisty, And then you know, some of us are 531 00:28:02,400 --> 00:28:05,239 Speaker 5: better than others at hiding our own personal agendas. If 532 00:28:05,240 --> 00:28:07,240 Speaker 5: you ask me, all thirty two NFL owners should be 533 00:28:07,280 --> 00:28:09,399 Speaker 5: on this list because that's good business for me personally, 534 00:28:11,400 --> 00:28:13,400 Speaker 5: and then the NASCAR guy is saying the same thing. 535 00:28:13,520 --> 00:28:15,600 Speaker 5: So we try to rise above that, but maybe not 536 00:28:15,680 --> 00:28:18,120 Speaker 5: all the time. In terms of nuts and Bolts. How 537 00:28:18,160 --> 00:28:21,720 Speaker 5: we literally started this. This started from our most annual 538 00:28:21,760 --> 00:28:25,879 Speaker 5: most Influential list. So we've done this now for twenty 539 00:28:25,920 --> 00:28:28,600 Speaker 5: one years, and the first people that were on the 540 00:28:28,640 --> 00:28:31,399 Speaker 5: whiteboard was anyone who had been on the most Influential 541 00:28:31,440 --> 00:28:33,480 Speaker 5: list at any point over this twenty years. That's three 542 00:28:33,560 --> 00:28:36,160 Speaker 5: hundred and seventy nine different people. Then we added two 543 00:28:36,200 --> 00:28:39,479 Speaker 5: hundred more names to that and started whittling down from there. 544 00:28:39,800 --> 00:28:41,680 Speaker 5: It's tough. I mean, you think, on one hand, these 545 00:28:41,720 --> 00:28:43,480 Speaker 5: lists don't change a lot from year to year, and 546 00:28:43,520 --> 00:28:46,480 Speaker 5: that's probably true, but they change a lot over five, 547 00:28:46,560 --> 00:28:48,960 Speaker 5: ten or twenty years. There's only four people who made 548 00:28:48,960 --> 00:28:51,600 Speaker 5: this list for all twenty one years when we did 549 00:28:51,600 --> 00:28:54,280 Speaker 5: this on an annual basis, and who's that It was 550 00:28:54,320 --> 00:28:57,880 Speaker 5: Bob Kraft, Jerry Jones, Roger Goodell, and Gary Bettman from 551 00:28:57,920 --> 00:29:01,280 Speaker 5: the NHL. Everybody else come and gone at some point. 552 00:29:01,520 --> 00:29:05,120 Speaker 5: So that's where we started, and we just started whittling 553 00:29:05,160 --> 00:29:07,760 Speaker 5: down from there. I think that there was a dozen 554 00:29:07,840 --> 00:29:10,080 Speaker 5: emails that went to the whole staff and then you know, 555 00:29:10,080 --> 00:29:13,600 Speaker 5: a dozen more in person meetings. Maybe I'm getting to 556 00:29:13,640 --> 00:29:16,200 Speaker 5: the point of accurately characterizing the work there. 557 00:29:16,280 --> 00:29:18,120 Speaker 2: Well, you know, here's where we go, Ben, because I 558 00:29:18,200 --> 00:29:20,120 Speaker 2: have looked at this list and I have been a 559 00:29:20,160 --> 00:29:22,040 Speaker 2: follower of it over the years. And you know, if 560 00:29:22,040 --> 00:29:23,920 Speaker 2: you just when you did use the rank it, you had, 561 00:29:23,960 --> 00:29:26,520 Speaker 2: you know, out of silver up there. You had people 562 00:29:26,560 --> 00:29:31,120 Speaker 2: like Roger Goodell up there. You have athletes, you have owners, commissioners, 563 00:29:31,120 --> 00:29:33,000 Speaker 2: you have TV execs. I think Bob Bider was up 564 00:29:33,040 --> 00:29:34,440 Speaker 2: there one year. Can you talk to us a little 565 00:29:34,480 --> 00:29:37,600 Speaker 2: bit about this year's list? What percentage of that? And 566 00:29:37,640 --> 00:29:40,440 Speaker 2: you're and you know, call it what you will, are 567 00:29:40,480 --> 00:29:44,280 Speaker 2: real owners and investors relative to I guess the athletes 568 00:29:44,320 --> 00:29:47,120 Speaker 2: and the commissioners who I wouldn't say work for the teams, 569 00:29:47,200 --> 00:29:49,880 Speaker 2: but yeah, you know are more. Are it just a 570 00:29:49,880 --> 00:29:50,840 Speaker 2: bit of a different breed? 571 00:29:51,120 --> 00:29:54,960 Speaker 5: Yeah? I have not counted done the math broken this 572 00:29:55,120 --> 00:29:59,720 Speaker 5: down owners versus operators versus investors, I think, but you know, 573 00:29:59,760 --> 00:30:02,920 Speaker 5: I think that's a by trying to answer that question, 574 00:30:03,400 --> 00:30:09,600 Speaker 5: I'll go to the difference maybe between relevance, power and influence. 575 00:30:09,760 --> 00:30:13,080 Speaker 5: And these are subtle things, and these aren't necessarily dictionary definitions, 576 00:30:13,480 --> 00:30:15,600 Speaker 5: but it's a lot of what we talk about around 577 00:30:15,640 --> 00:30:18,400 Speaker 5: the room. Money is power to a certain extent, A 578 00:30:18,440 --> 00:30:22,520 Speaker 5: dollar can accomplish something that no dollars cannot. Power and 579 00:30:22,560 --> 00:30:25,160 Speaker 5: influence aren't quite the same thing when we talk about money. 580 00:30:25,440 --> 00:30:28,600 Speaker 5: Arthur Blank, owner of the Atlanta Falcons, is far from 581 00:30:28,640 --> 00:30:31,680 Speaker 5: the wealthiest person in sports, you know, well down that 582 00:30:31,720 --> 00:30:34,480 Speaker 5: list if we're just counting dollars, but he's got such 583 00:30:34,480 --> 00:30:37,160 Speaker 5: a strong track record. Everything he's touched in sports has 584 00:30:37,160 --> 00:30:39,840 Speaker 5: gotten much better as a direct result of his influence. 585 00:30:40,200 --> 00:30:42,560 Speaker 5: The Atlanta Falcons were a disaster on a business wise 586 00:30:42,560 --> 00:30:47,240 Speaker 5: side before he's gotten involved. Atlanta's MLS team is maybe 587 00:30:47,320 --> 00:30:51,160 Speaker 5: the best expansion team launch across all sports anywhere in 588 00:30:51,240 --> 00:30:53,600 Speaker 5: terms of raw dollars and brand relevance. Right out of 589 00:30:53,600 --> 00:30:57,720 Speaker 5: the gate. He saved the PGA superstore, and he's party 590 00:30:57,760 --> 00:31:03,320 Speaker 5: group that's really given the PGA fresh light life during 591 00:31:03,360 --> 00:31:06,160 Speaker 5: instrama the last few years. So that's an influence of 592 00:31:06,200 --> 00:31:08,480 Speaker 5: one kind. And then Robert Kraft also far from the 593 00:31:08,480 --> 00:31:11,520 Speaker 5: wealthiest person in sports, but he probably has everyone on 594 00:31:11,560 --> 00:31:14,360 Speaker 5: this list's cell phone number, and that's influence in a 595 00:31:14,400 --> 00:31:16,520 Speaker 5: more subtle way too. It's not about dollars and cents, 596 00:31:16,560 --> 00:31:18,000 Speaker 5: just everybody kind of likes the guy. 597 00:31:18,280 --> 00:31:20,360 Speaker 7: I'm going to give a shout out to the on 598 00:31:20,560 --> 00:31:25,320 Speaker 7: air talent, uh and my goodness, Bob Costas, al Michaels, 599 00:31:25,440 --> 00:31:30,200 Speaker 7: Jim Nantz. There is nothing more you can say about 600 00:31:30,240 --> 00:31:33,200 Speaker 7: those three except wow, you talk about greatness. Ben. 601 00:31:33,480 --> 00:31:38,520 Speaker 2: Yeah, but they didn't need the list, Michael, Were they 602 00:31:38,600 --> 00:31:40,160 Speaker 2: Is that right? I think they were in years past? 603 00:31:40,240 --> 00:31:44,040 Speaker 5: Yeah, yeah, they were. I think I don't know if 604 00:31:44,040 --> 00:31:46,280 Speaker 5: there's if we can say one person had the biggest 605 00:31:46,280 --> 00:31:49,680 Speaker 5: fight about it, I'd say the biggest argument internally was 606 00:31:49,880 --> 00:31:54,440 Speaker 5: almost philosophical about broadcasters. You know, these guys are part 607 00:31:54,480 --> 00:31:56,680 Speaker 5: of our lives. We feel like we know al Michaels 608 00:31:56,680 --> 00:31:59,840 Speaker 5: and Bob Costas and Jim nance and people like that, 609 00:32:00,040 --> 00:32:03,040 Speaker 5: and they're so ubiquitous in sports, and you think, how 610 00:32:03,040 --> 00:32:07,400 Speaker 5: does that not equate to influence? You know I do, 611 00:32:11,400 --> 00:32:15,280 Speaker 5: But you know, are these people making are they making 612 00:32:15,400 --> 00:32:18,520 Speaker 5: policy decisions? Are they doing Are there things that are 613 00:32:18,600 --> 00:32:21,800 Speaker 5: happening that would would not happen but for them? I 614 00:32:21,800 --> 00:32:25,040 Speaker 5: think that's a tougher question for them. Interestingly enough, who 615 00:32:25,120 --> 00:32:27,480 Speaker 5: is on the list is Sandy Montague, the agent who 616 00:32:27,480 --> 00:32:30,800 Speaker 5: has represented a hugely disproportionate number of on air talents 617 00:32:30,800 --> 00:32:34,640 Speaker 5: over the years. You know, he made John Madden what 618 00:32:34,680 --> 00:32:38,240 Speaker 5: he is. You know, his clients include Costas and Tarrico 619 00:32:38,360 --> 00:32:41,560 Speaker 5: and Nance and Van Pelt, and our thinking was that 620 00:32:42,720 --> 00:32:45,000 Speaker 5: the role those people play in our lives is a 621 00:32:45,040 --> 00:32:48,080 Speaker 5: reflection of people like Sandy and others in the business 622 00:32:48,080 --> 00:32:50,960 Speaker 5: of broadcasting, maybe not so much themselves. Which I hate 623 00:32:50,960 --> 00:32:52,560 Speaker 5: to say that, because there should be a separate list 624 00:32:52,600 --> 00:32:54,520 Speaker 5: for those guys. They all mean so much to us, 625 00:32:54,520 --> 00:32:56,120 Speaker 5: and they're so good at and they've been doing it 626 00:32:56,160 --> 00:32:56,800 Speaker 5: for so long. 627 00:32:56,920 --> 00:32:57,840 Speaker 7: But when we. 628 00:32:57,840 --> 00:33:01,440 Speaker 5: Decided influence, we found the spots on our list were 629 00:33:01,440 --> 00:33:02,440 Speaker 5: better held by others. 630 00:33:03,080 --> 00:33:05,760 Speaker 4: When you're looking at the list, like Damiehunnon mentioned, there's 631 00:33:05,800 --> 00:33:08,800 Speaker 4: all these different pockets of it, and really with the athletes, 632 00:33:08,880 --> 00:33:11,680 Speaker 4: there's not that many athletes. There's really like a handful 633 00:33:11,680 --> 00:33:15,800 Speaker 4: of athletes maybe, And obviously it's it's about sports business. 634 00:33:15,920 --> 00:33:20,000 Speaker 4: So when you're looking at how they influence sports business, 635 00:33:20,360 --> 00:33:22,160 Speaker 4: how did you go about choosing the athletes that are 636 00:33:22,200 --> 00:33:22,600 Speaker 4: on the list. 637 00:33:24,680 --> 00:33:26,720 Speaker 5: Yeah, you're right, there's not as many athletes as you 638 00:33:26,800 --> 00:33:29,560 Speaker 5: might think. I think SBJA readers know that, you know, 639 00:33:29,600 --> 00:33:32,880 Speaker 5: we lean pretty heavily toward true business side of things. 640 00:33:33,000 --> 00:33:35,720 Speaker 5: I think the question I asked in these meetings when 641 00:33:35,720 --> 00:33:38,479 Speaker 5: we talked about athletes was what else do you have. 642 00:33:39,040 --> 00:33:42,680 Speaker 5: No matter how many championships or individual awards or wins 643 00:33:42,720 --> 00:33:45,040 Speaker 5: you had, you know what else was there? There needed 644 00:33:45,040 --> 00:33:47,160 Speaker 5: to be something above and beyond the field of play, 645 00:33:47,360 --> 00:33:49,400 Speaker 5: because the field of play is sort of the product, right, 646 00:33:49,440 --> 00:33:51,200 Speaker 5: I mean, when we look at the business side, we're 647 00:33:51,200 --> 00:33:53,520 Speaker 5: looking for some sort of value ad and that's where 648 00:33:53,600 --> 00:33:55,920 Speaker 5: names like Serena Williams and Tiger Woods came to bear. 649 00:33:56,000 --> 00:33:59,640 Speaker 5: Where they just completely changed the economics of the entire 650 00:33:59,680 --> 00:34:04,680 Speaker 5: sport because they were so disproportionately more relevant and popular 651 00:34:04,760 --> 00:34:07,240 Speaker 5: than than their contemporaries there. And you know, they they 652 00:34:07,360 --> 00:34:09,640 Speaker 5: they you know, weren't just signing checks to put their 653 00:34:09,719 --> 00:34:12,920 Speaker 5: name on things too. They were doing business deals that 654 00:34:13,040 --> 00:34:16,279 Speaker 5: were very substantive and meaningful and bringing you know, their 655 00:34:16,320 --> 00:34:20,320 Speaker 5: their involved in equity and h and business startups and 656 00:34:20,600 --> 00:34:24,160 Speaker 5: that sort of thing. Another example is we put Simone Biles, 657 00:34:24,200 --> 00:34:26,640 Speaker 5: Alison Felix, and Michael Phelps on there as a single 658 00:34:26,840 --> 00:34:30,480 Speaker 5: entity Olympians. Olympians are tough. They're the biggest thing in 659 00:34:30,520 --> 00:34:32,480 Speaker 5: the world for two weeks a year, but they're in 660 00:34:32,719 --> 00:34:35,120 Speaker 5: niche to be kind sports the rest of the time. 661 00:34:35,640 --> 00:34:39,080 Speaker 5: We put them up because of their role in driving 662 00:34:39,080 --> 00:34:44,279 Speaker 5: cultural conversations in Michael Phelps's advocacy for mental health, and 663 00:34:44,600 --> 00:34:48,960 Speaker 5: Simone Biles boldness and speaking out against the sexual abuse 664 00:34:49,000 --> 00:34:52,880 Speaker 5: going on USAH gymnastics and changing things, and Alison Felix 665 00:34:52,920 --> 00:34:55,680 Speaker 5: for being such a force and you know, calling out 666 00:34:55,760 --> 00:35:00,600 Speaker 5: Nike for its behavior toward pregnant women that sort of thing. So, yes, 667 00:35:00,600 --> 00:35:01,840 Speaker 5: you got to be a winner, but there's got to 668 00:35:01,880 --> 00:35:02,880 Speaker 5: be more than that too. 669 00:35:03,440 --> 00:35:05,640 Speaker 2: Well, you know, Ben. I mean, look, the reality is 670 00:35:05,680 --> 00:35:08,320 Speaker 2: this list. Every year you did used to rank somebody 671 00:35:08,400 --> 00:35:10,080 Speaker 2: you did, used to rank one to one twenty five. 672 00:35:10,120 --> 00:35:12,560 Speaker 2: You're not doing that anymore. But last year your number 673 00:35:12,560 --> 00:35:17,319 Speaker 2: one was the private equity investor. And this year has 674 00:35:17,360 --> 00:35:21,000 Speaker 2: been nothing short of pre essence in the fact that 675 00:35:21,000 --> 00:35:24,000 Speaker 2: private equity and its role specifically within the NFL and 676 00:35:24,680 --> 00:35:27,040 Speaker 2: the NBA has just taken off. Talk to us a 677 00:35:27,080 --> 00:35:28,759 Speaker 2: little bit about what the future of this list might 678 00:35:28,800 --> 00:35:30,799 Speaker 2: look like. I mean, are you guys digging deep on 679 00:35:30,920 --> 00:35:34,640 Speaker 2: Redbird and Arctose and all these private equity avenue I mean, 680 00:35:34,680 --> 00:35:37,960 Speaker 2: everyone's starting a sports related investment fund. Talk to us 681 00:35:37,960 --> 00:35:40,440 Speaker 2: a little bit about the impact that's having on influence 682 00:35:40,719 --> 00:35:41,640 Speaker 2: in the world of sports. 683 00:35:41,920 --> 00:35:43,879 Speaker 5: Yeah, happy to, and you know, to your point about 684 00:35:43,880 --> 00:35:46,080 Speaker 5: the rankings. I think in two thousand it was very 685 00:35:46,120 --> 00:35:49,359 Speaker 5: possible to pick the most influential person in sports. It's 686 00:35:49,440 --> 00:35:51,719 Speaker 5: just a small enough world. You could now there's too much. 687 00:35:51,719 --> 00:35:54,120 Speaker 5: It's an asset class. Who used to say whose number 688 00:35:54,160 --> 00:35:57,640 Speaker 5: one is too big? But to your point about private equity, 689 00:35:58,120 --> 00:36:02,080 Speaker 5: you know, it's been so resilience of a trend that 690 00:36:02,200 --> 00:36:04,680 Speaker 5: every day there's more mentions of the arctosis and the 691 00:36:04,719 --> 00:36:07,279 Speaker 5: redbirds in our world. And it seems to make or 692 00:36:07,320 --> 00:36:10,640 Speaker 5: break companies. Companies that can't get an investment from them 693 00:36:10,719 --> 00:36:13,200 Speaker 5: or on their radar screen seem to have a trajectory 694 00:36:13,280 --> 00:36:16,640 Speaker 5: that everyone else doesn't. And you know, like I said earlier, 695 00:36:16,880 --> 00:36:20,000 Speaker 5: capital is power and influence, and there's other ways to 696 00:36:20,040 --> 00:36:23,800 Speaker 5: get influenced too, but showing up with you know, a 697 00:36:23,920 --> 00:36:27,640 Speaker 5: multi billion dollar fund is a great way to get influence. 698 00:36:27,920 --> 00:36:30,640 Speaker 5: And you know number one on the list two years 699 00:36:30,640 --> 00:36:33,760 Speaker 5: ago was Yasir Al Remion from the Saudi Public Investments. 700 00:36:34,520 --> 00:36:37,640 Speaker 5: So that is a close cousin to private equity. And 701 00:36:37,880 --> 00:36:41,680 Speaker 5: just the point there being just the extraordinary breadth of 702 00:36:41,719 --> 00:36:44,240 Speaker 5: the people that are in sports now and can potentially 703 00:36:44,280 --> 00:36:47,759 Speaker 5: wield influence capital and wherever that comes from is just 704 00:36:47,800 --> 00:36:49,520 Speaker 5: going to be a bigger and bigger part of this list. 705 00:36:49,760 --> 00:36:53,600 Speaker 7: Did any of the sponsors big time sponsors and sports 706 00:36:53,640 --> 00:36:54,279 Speaker 7: make this list? 707 00:36:55,719 --> 00:37:01,800 Speaker 5: Yeah, good question, Yes, short answer, you're you're you're making 708 00:37:01,840 --> 00:37:03,439 Speaker 5: me go back over my list here. 709 00:37:03,560 --> 00:37:05,480 Speaker 4: But Andrew Brimmer from Ali. 710 00:37:06,680 --> 00:37:09,440 Speaker 5: Yeah, Andrew Bremer from Alli is a big one. Ally 711 00:37:09,600 --> 00:37:11,879 Speaker 5: is one of those companies that you know, I don't 712 00:37:11,920 --> 00:37:13,759 Speaker 5: know them for much more than the fact that they 713 00:37:13,800 --> 00:37:17,400 Speaker 5: are probably your biggest women's sports spender, your most most 714 00:37:17,440 --> 00:37:21,960 Speaker 5: focused women's sports spender. Chuck Fruit is a great one, 715 00:37:22,000 --> 00:37:24,240 Speaker 5: you know, heading media and sports marketing and at Coca 716 00:37:24,239 --> 00:37:27,640 Speaker 5: Cola and Anheuser Busch for a long time. He's a 717 00:37:27,680 --> 00:37:29,319 Speaker 5: bit of an older name on the list, but you 718 00:37:29,400 --> 00:37:32,040 Speaker 5: talk about names that drive the industry, those are two 719 00:37:32,040 --> 00:37:34,239 Speaker 5: of the big ones. They're signs for those companies at 720 00:37:34,239 --> 00:37:37,040 Speaker 5: every sporting venue in the country or PEPSI. I guess. 721 00:37:38,000 --> 00:37:40,360 Speaker 5: So there's a few of those. You know, sponsors collectively 722 00:37:40,360 --> 00:37:41,640 Speaker 5: can play a big role for sure. 723 00:37:41,880 --> 00:37:45,399 Speaker 2: Our thanks to Sports Business Journal NFL Beat writer Ben 724 00:37:45,480 --> 00:37:49,720 Speaker 2: Fisher for joining us on spg's The Influence. 725 00:37:49,320 --> 00:37:52,680 Speaker 7: One and That does It for this week's edition of 726 00:37:52,680 --> 00:37:55,400 Speaker 7: The Bloomberg Business of Sports where'd the time go? For 727 00:37:55,560 --> 00:37:58,839 Speaker 7: my colleagues Damian sas Hour and Vanessa Prodomo, I'm Michael Lahr. 728 00:37:58,960 --> 00:38:01,799 Speaker 2: Tune in again next week for the latest on all 729 00:38:02,040 --> 00:38:04,520 Speaker 2: the stories moving big money in the world of sports, 730 00:38:04,520 --> 00:38:07,640 Speaker 2: and subscribe to our podcast now so you never miss 731 00:38:07,640 --> 00:38:08,120 Speaker 2: an episode. 732 00:38:08,200 --> 00:38:10,480 Speaker 7: And I'm talking big money, not that little money stuff. 733 00:38:10,560 --> 00:38:14,319 Speaker 7: You're listening to the Bloomberg Business of Sports from Bloomberger 734 00:38:14,400 --> 00:38:15,880 Speaker 7: Radio around the world.