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Speaker 1: Hello, I'm Scott Soft, I'm Evan Nobi Williams, and I'm

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Speaker 1: Michael Barr. And this is the Bloomberg Business of Sports podcast,

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Speaker 1: where we explore the big money issues in the world

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Speaker 1: of sports. And today we begin with some news out

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Speaker 1: of Bristol, Connecticut, a new contract with Stephen A. Smith

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Speaker 1: at ESPN. I'm telling you, I am sick and tired

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Speaker 1: of the Giants and the Jets trying to play his

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Speaker 1: football dumpster fine nineteen. I thought you were gonna say

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Speaker 1: that my pay check. If you don't know, that was good.

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Speaker 1: If you don't know Stephen A. Smith, here's a little

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Speaker 1: sample of his work talking about the Lakers back in August.

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Speaker 1: So if all of those things are true, that this

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Speaker 1: is an incredibly embarrassing and unproductive day for the Los

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Speaker 1: Angeles Lakers franchise. And it's clearly regrets to our point

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Speaker 1: where the Genie Bus era is starting to look like

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Speaker 1: the Jim Bus era. If not already there, love him,

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Speaker 1: I love I love ste Now let me let me

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Speaker 1: this is the part where I'm like, let's always remember

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Speaker 1: in the ESPN world, or even the whole thing, what

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Speaker 1: comes first? What comes first? And ESPN entertainment. The E.

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Speaker 1: The E comes before the S, which stands for sports

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Speaker 1: and if you want enter and stephen A figured this

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Speaker 1: out a long time ago. I mean I used to

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Speaker 1: hang out down down at the the arena down think

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Speaker 1: it was Core States, back in the day when steven

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Speaker 1: A was covering the seventies sixers. And make no mistakes,

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Speaker 1: steven as a journalist, okay, but for the for the

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Speaker 1: haters and for the people who don't know like steven

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Speaker 1: A as a journalist, he worked in print, he worked.

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Speaker 1: I used to see him typing his columns on on

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Speaker 1: the black. No, I don't say it was that is.

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Speaker 1: I don't know how he does what he does. But

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Speaker 1: the point is that steven A is getting rewarded with

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Speaker 1: an eight million dollar a year contract. The question now

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Speaker 1: is what's the return on the investment? When still want

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Speaker 1: to look at ESPN, it's about the live rights, like

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Speaker 1: the shoulder programming doesn't really matter to ES. I mean

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Speaker 1: clearly it does, right, because they're paying steven A. They're

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Speaker 1: giving him a forty million dollar forty million dollar deal,

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Speaker 1: five year deal, eight million a year um. Underscoring what

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Speaker 1: you were just mentioning. He hustles, right, he hosts a

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Speaker 1: daily morning show, First Take. He's on Sports Center all

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Speaker 1: the time. He anchors their NBA coverage, and they have

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Speaker 1: him doing playoff football, they have him doing college football.

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Speaker 1: He's been Yeah, he's definitely become sort of a cross

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Speaker 1: the Rupeicon guy. Everybody. Yeah, and this is not this

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Speaker 1: is not the first time that you know, I think

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Speaker 1: people have you know, opened their eyes wide to what

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Speaker 1: you know, these daily sports guys are getting paid. When

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Speaker 1: Colin cowherd uh, he gets I don't know the numbers

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Speaker 1: in front of me a lot. Obviously. When Skip Bayliss

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Speaker 1: moved from ESPN former Steven partner with ESPN the Fox,

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Speaker 1: his contract was pretty crazy. Word now that he skipped

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Speaker 1: may come back to ESPN when his deal expires, I

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Speaker 1: think in a year or so and team up with

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Speaker 1: Steven a again. Sure. And and then to answer the

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Speaker 1: question that you asked me at the beginning, I mean,

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Speaker 1: Stephen Smiths contract is pennies compared to any major live

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Speaker 1: right to the ESPN one, sounds like he's being paid

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Speaker 1: a lot. But live rights are the big thing, and

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Speaker 1: and those are you know, those are hundred million dollar deals,

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Speaker 1: if not billionaire. Now, if I'm Jimmy Pittaro, though, am

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Speaker 1: I not figuring out or trying to figure out a

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Speaker 1: way where I can capitalize on that loyal audience to

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Speaker 1: stephen A? I gotta figure out, and the ESPN president,

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Speaker 1: Jimmy Pittarro, is trying to figure out how in the

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Speaker 1: world do I get him exclusive content on ESPN Plus?

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Speaker 1: Because the future is all about how do I add subscribers?

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Speaker 1: They went from two million to three and a half million.

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Speaker 1: That's the subscription service direct to consumer. What stephen A

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Speaker 1: can I put on there that people will sign up

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Speaker 1: for that? If I can get him on I mean,

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Speaker 1: I'm gonna get him on the airways. I don't have

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Speaker 1: to pay for you know that I'm gonna get. But

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Speaker 1: what can I do exclusively on ESPN Plus? What people say, Yeah,

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Speaker 1: I'm gonna buy this thing, I'll tell you what. I'm

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Speaker 1: gonna let you in on a little secret. When I

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Speaker 1: drive home, light out, I'm listening to stephen A on

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Speaker 1: the way home. He is one of the hardest working people.

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Speaker 1: A paycheck from Michael bar Sorry pot, Moving right along.

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Speaker 1: Up next, we're gonna talk some soccer with CBS and

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Speaker 1: Univision picking up rights to the WA Champions Championships with yes,

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Speaker 1: you're like your Europe's top competition and one to spring

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Speaker 1: of your team. Bar you gotta root for European team?

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Speaker 1: Who you pulling for? Boy? You know I want to say, uh,

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Speaker 1: now are the Tots in Tottenham if they qualified for

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Speaker 1: Champions League they could be their finalists? Last year they

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Speaker 1: could to okay Hotspur bar like um, yeah, so this

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Speaker 1: is a this is a big change I think for

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Speaker 1: for soccer fans. The Turner has the the English language

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Speaker 1: rights in the US right now, They have them for

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Speaker 1: two more years and then CBS takes over. It's also

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Speaker 1: a big switch kind of in the way that you know,

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Speaker 1: the specialties of these companies. Turner does not have a

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Speaker 1: broadcast television network. The final was on T n T

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Speaker 1: I think this year, and it was much lower rated

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Speaker 1: than the ones that have been on Fox years before. Obviously,

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Speaker 1: UM and Turner does very well O T T right

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Speaker 1: there for those who wanted to debate the over the

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Speaker 1: air versus cable and still yeah, there is the exactly Yeah,

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Speaker 1: um BR Live does very well and the in the

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Speaker 1: Champions League games have been you know, featured very heavily

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Speaker 1: on that. Now shifting to CBS, which has obviously a

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Speaker 1: broadcast network that gets a lot of ratings, will give

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Speaker 1: great play to the games that are on that. But

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Speaker 1: CBS is sports O T T experience right now is

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Speaker 1: not at the level that that b our lives. Could

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Speaker 1: we have a partnership in the future, could they farm

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Speaker 1: sub license to a Facebook or somebody else, I would

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Speaker 1: not be shocked at all. I mean the Facebook guys

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Speaker 1: would love that, right, I think you would also that

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Speaker 1: approach front. You do it and then we'll figure out

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Speaker 1: a deal agreed. So yes, I think ESPNS s CBS.

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Speaker 1: You know, they have a couple of years to figure

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Speaker 1: out what their O T T looks like. There's a

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Speaker 1: big business change coming with this, with this twelve bill

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Speaker 1: million dollar merger with Viacom, So we'll see what that

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Speaker 1: means for the for for the future of CBS. But

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Speaker 1: if there was any question about whether you know, this

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Speaker 1: new CBS Viacom company would be interested in sports or

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Speaker 1: less interested in sports or more interest in sports, you

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Speaker 1: know they don't do much in soccer right now. This

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Speaker 1: is this is not a cheap contract. It's a it's

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Speaker 1: a hundred and fifty million dollars a year. Then in universe.

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Speaker 1: I don't know exactly where that from. Yeah, so it's

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Speaker 1: a increase in rights, um, but at least signals that

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Speaker 1: this CBS viacom, this new entity still cares about Did

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Speaker 1: I see the possibility exists that UEFA is at least

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Speaker 1: contemplating putting the Champions League final in New York. I

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Speaker 1: saw that report over the weekend. I think that's a

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Speaker 1: great idea, Angry Europeans. I mean, if you live in

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Speaker 1: Madrid and the UEFA Champions League Finals in buck Who Bajan,

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Speaker 1: which is where it was I think two years ago.

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Speaker 1: You know, that's the same distance flight as it is

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Speaker 1: in New York. It might be a little bit less

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Speaker 1: of a time change three hours versus y Yeah, but

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Speaker 1: you get more exposure here in New York. I would

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Speaker 1: imagine if I'm a Madrid fan, no offense to Buku,

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Speaker 1: I'd rather go to New York to see the team

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Speaker 1: play than to Azerbaijan. Um. It seems like there's a yes.

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Speaker 1: I think it's a it's a good idea. They shouldn't

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Speaker 1: do it every year, but if the NFL announced a

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Speaker 1: game and a Super Bowl in London, super Bowl in London,

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Speaker 1: people would be angry. Yes, business folks like us would

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Speaker 1: be like, oh, I see the appeal of that. Let

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Speaker 1: it be known, Jackson Sashnik, as there did, Dad can

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Speaker 1: we go? As soon as he doesn't matter who's playing

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Speaker 1: Champions Final? Dad can we go? And as you know,

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Speaker 1: we have you know, these soccer executives on the podcast

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Speaker 1: all the time. Everybody is looking at the US trying

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Speaker 1: to claw in market share, trying to you know, it's

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Speaker 1: the biggest growth market maybe outside China, in soccer world

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Speaker 1: right now. And everybody wants so, which of those soccer executives,

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Speaker 1: including some we've been on the show, should I say, Hey,

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Speaker 1: I need two tickets, and yes I'm happily pay for them.

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Speaker 1: But who am I hitting up for the tickets? Oh? Man? Well,

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Speaker 1: we had Peter More on recently, pretty big win this

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Speaker 1: weekend over Manchester City. Team looks good. Umar Bartomeyo, Joseph

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Speaker 1: Bartomeyo the president, but they've really got a good shot

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Speaker 1: as well. I think you would. Uh. I think there's

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Speaker 1: gonna be some big teams here for sure. Finally, we

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Speaker 1: have to talk about this that happened Friday. Madison Square

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Speaker 1: Garden has approved a plan to spin off all of

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Speaker 1: its sports business, including the New York Knicks and Rangers. Yeah.

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Speaker 1: The big difference here is they're completely separating the sports

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Speaker 1: teams Knicks, Rangers, the the G League team and the

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Speaker 1: practice facility in suburban Westchester, the sports teams and the

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Speaker 1: sports teams. Sorry sorry, the sports teams too. Yes, from

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Speaker 1: any of the entertainment assets. There was gonna there was

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Speaker 1: going to be a small piece of thirty as combined entity. Uh.

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Speaker 1: And what I'm being told by a lot of the

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Speaker 1: bankers out there is that all the incoming traffic on

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Speaker 1: the would be investors in the sports teams, including silver Lake,

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Speaker 1: that they wanted a pre spinoff chance at buying into

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Speaker 1: the sports teams because for whatever reason, they did not

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Speaker 1: want the entertainment asset part of it. They just wanted

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Speaker 1: the sports. Forgive me for being ignorant. I know I

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Speaker 1: left myself wide open, but I don't understand that. I

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Speaker 1: mean the entertainment part. There's a lot of coin in

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Speaker 1: that along with the sports as well. So so why

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Speaker 1: you're you're unlocking value in each separate part of the

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Speaker 1: company by separating them. They're they're disparate interests. There's different

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Speaker 1: things that they do separately better so that that's the

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Speaker 1: main reason that that's the main reason for the spinoff.

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Speaker 1: They think they can extract more shareholder value for each

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Speaker 1: of these units separate. And remember that back MSG did

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Speaker 1: this with its network piece, right, so it was entertainment,

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Speaker 1: sports teams and networks. They spun off the sports networks, uh, separately.

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Speaker 1: It seems as though in reading kind of between the

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Speaker 1: lines and what MSG said at the end of last week,

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Speaker 1: they're building this big sphere in London. It's a it's

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Speaker 1: a huge project. It's the money. It's delayed. UM And

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Speaker 1: in part of whatever the process of that delay was,

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Speaker 1: it sounds like the leadership Jim Dolan realized that it

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Speaker 1: might be better and easier, more flexible, more versatility if

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Speaker 1: they have these things totally separate than have any kind

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Speaker 1: of bleed over between the entertainment aspects, which to be

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Speaker 1: clear is includes Madison Square gardens in the building, UM

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Speaker 1: and the sports, the sports, radio, City, music Hall and

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Speaker 1: and bar. Let's say, by the way, the performance of

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Speaker 1: the teams has absolutely no effect on that. He goes,

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Speaker 1: already were ten games into the season, mix and they've

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Speaker 1: already had the alright, Steve Mills go out, you know,

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Speaker 1: the president of the team. You gotta go out there

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Speaker 1: and talk because we've another god awful defeat at Madison Square.

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Speaker 1: Let's see that you can care less like you said,

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Speaker 1: what the team Pete, pet Peeve couldn't care less? Pet Peeve,

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Speaker 1: I'm sorry, can I can I say, just like those

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Speaker 1: who screw up infer and imply that you are right

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Speaker 1: about that than you and I'm implying nothing. It doesn't

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Speaker 1: make a difference what the teams do, and people are

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Speaker 1: going to come regardless of what I'm trying to say. Yeah,

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Speaker 1: that's what happens. Being in this market where have all

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Speaker 1: the corporate support, You're gonna sell your tickets. One thing

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Speaker 1: I'm interested here. What I'm interested in what the valuation

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Speaker 1: is of this stying to see yeah, seven plus billion,

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Speaker 1: I mean probably Blue Harbor was saying, what was the

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Speaker 1: Blue Harbord numbers? It was four or four point eight,

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Speaker 1: four point seven something like that, I think, and was higher.

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Speaker 1: I'm not sure, maybe maybe that that valuation maybe yeah, yeah, okay, yeah, yeah,

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Speaker 1: yeahm but total I think it was like yeah, so

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Speaker 1: very interested in what the valuation is and then moving

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Speaker 1: forward because you know, publicly traded companies have to give

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Speaker 1: some kind of granularity of information. I am curious kind

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Speaker 1: of how they break out what they're going to report

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Speaker 1: and how much insight we get into, you know, the

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Speaker 1: inner workings and the financials of a team, like the

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Speaker 1: rangers of team, the big ticket items that we can

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Speaker 1: guess that of the broadcast revenue and yeah, great wet

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Speaker 1: that that stuff that we get. We don't get that

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Speaker 1: very often in the sports world right now, so I

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Speaker 1: will be very intrigued by that as well. Do this

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Speaker 1: in Steven A, come on, come on, do you take

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Speaker 1: us out and step don't pull a muscle. This is

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Speaker 1: the Bloomberg Business of Sports podcast. I'm Michael Barr along

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Speaker 1: with Scottsnik and Evan nob Williams. Oh that was just angry,

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Speaker 1: Steven bulliant angry. I don't know alright, but we're here.

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Speaker 1: What I'm gonna bring it down back here Monday, Wednesday, Thursday,

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Speaker 1: we explore the world with money in sports. You can

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Speaker 1: join us again at the end of the week when

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Speaker 1: we speak with the biggest and brightest in the sports

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Speaker 1: business world. And I couldn't care what Scott said. The

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Speaker 1: show was. You are listening to the Bloomberg Business of

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Speaker 1: Sports on Bloomberg Radio around the world. I'm talking about

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Speaker 1: the globe and wherever you get your podcast