1 00:00:02,560 --> 00:00:09,520 Speaker 1: Bloomberg Audio Studios, Podcasts, radio News. This is the Business 2 00:00:09,520 --> 00:00:10,080 Speaker 1: of sports. 3 00:00:10,200 --> 00:00:13,080 Speaker 2: The business of sports can be intimidating or hard for 4 00:00:13,080 --> 00:00:14,080 Speaker 2: a starting to break into. 5 00:00:14,200 --> 00:00:17,200 Speaker 3: We really appreciate when our owners are actually there, you know, 6 00:00:17,280 --> 00:00:18,280 Speaker 3: with us through the journey. 7 00:00:18,400 --> 00:00:21,920 Speaker 4: Teams ours especially have been very intentional to diversify at 8 00:00:21,960 --> 00:00:23,800 Speaker 4: all levels of the company. I think we're in bolden 9 00:00:23,920 --> 00:00:26,239 Speaker 4: years for the NFL and college football. 10 00:00:26,280 --> 00:00:29,320 Speaker 3: Our demographic reach has continued to explode. 11 00:00:29,440 --> 00:00:33,040 Speaker 4: This is going to be really unlocking the streaming platform 12 00:00:33,159 --> 00:00:34,080 Speaker 4: for sports fans. 13 00:00:34,159 --> 00:00:36,640 Speaker 3: Sports valuations arising, we'll see when they peak. 14 00:00:36,720 --> 00:00:39,320 Speaker 5: You don't have to be the best in your sports 15 00:00:39,320 --> 00:00:42,240 Speaker 5: to make a whole ton of money. 16 00:00:42,400 --> 00:00:46,080 Speaker 1: Bloomberg Business of Sports from Bloomberg Radio. 17 00:00:46,840 --> 00:00:49,839 Speaker 2: This is the Bloomberg Business of Sports, where we explore 18 00:00:49,840 --> 00:00:51,839 Speaker 2: the big money issues in the world of sports. 19 00:00:51,880 --> 00:00:54,600 Speaker 3: I'm Michael Barr, I'm Damian Sasauer, and I'm Vanessa Prodmo. 20 00:00:54,720 --> 00:00:57,680 Speaker 2: Coming up on the show, we'll talk what's next in 21 00:00:57,720 --> 00:00:59,880 Speaker 2: college sports with ab prevet Perko. 22 00:01:00,160 --> 00:01:03,720 Speaker 3: She's CEO at the Night Commission on Intercollegiate Athletics. It 23 00:01:03,920 --> 00:01:07,080 Speaker 3: just did a major survey of Division one leaders. Amy 24 00:01:07,160 --> 00:01:09,560 Speaker 3: joins us for a post check on the college athlete. 25 00:01:09,600 --> 00:01:12,760 Speaker 6: We partnered with Elon University Poll to conduct a national 26 00:01:12,840 --> 00:01:17,679 Speaker 6: survey of Division one presidents, university presidents, athletic directors, and 27 00:01:17,720 --> 00:01:22,200 Speaker 6: other campus leaders to really help inform Frankly, Congress and 28 00:01:22,319 --> 00:01:26,000 Speaker 6: others as efforts proceed to build a new model of 29 00:01:26,040 --> 00:01:27,120 Speaker 6: Division one sports. 30 00:01:27,560 --> 00:01:29,759 Speaker 2: That and more is on the way on the Bloomberg 31 00:01:29,800 --> 00:01:32,399 Speaker 2: Business of Sports. But we start with Nike. 32 00:01:32,800 --> 00:01:35,520 Speaker 7: Now, just about a year into CEO Elliott Hill's tenure, 33 00:01:35,600 --> 00:01:37,800 Speaker 7: some of his big ideas turn around the brand are 34 00:01:37,880 --> 00:01:39,080 Speaker 7: starting to take shape. 35 00:01:39,160 --> 00:01:43,360 Speaker 2: Bloomberg News Senior reporter Kim Bessen was able to visit 36 00:01:43,480 --> 00:01:48,360 Speaker 2: Nike's headquarters in Beavertown, Oregon for an up close look 37 00:01:48,400 --> 00:01:52,040 Speaker 2: at some of the sports where company's latest innovations, and 38 00:01:52,080 --> 00:01:54,960 Speaker 2: he is here now to take us through them. Cim, 39 00:01:55,920 --> 00:01:58,400 Speaker 2: welcome back to the Bloomberg Business of Sports. 40 00:01:58,520 --> 00:02:00,240 Speaker 5: What is up? 41 00:02:00,440 --> 00:02:05,720 Speaker 2: Oh, always man, You've got the Nike comeback and it 42 00:02:05,920 --> 00:02:10,239 Speaker 2: is looking pretty good for the company. Tell us about it. 43 00:02:10,720 --> 00:02:14,720 Speaker 5: Yeah, it's it seems like it's finally getting some traction here. 44 00:02:14,840 --> 00:02:19,000 Speaker 5: So so, Nike posted a better than expected quarter last quarter, 45 00:02:19,080 --> 00:02:22,920 Speaker 5: and part of this has to do with like running shoes, right, 46 00:02:23,160 --> 00:02:25,200 Speaker 5: They're they're starting to come back there. They lost so much, 47 00:02:26,040 --> 00:02:28,399 Speaker 5: they lost market share there over the past five years 48 00:02:28,480 --> 00:02:31,520 Speaker 5: or so, all these these upstarts, right and and and 49 00:02:31,560 --> 00:02:35,040 Speaker 5: now we're seeing, you know, twenty percent growth in running, 50 00:02:35,080 --> 00:02:38,960 Speaker 5: and they're starting to come up with like those big 51 00:02:39,080 --> 00:02:42,400 Speaker 5: kind of product breakthroughs that they used to be so 52 00:02:42,800 --> 00:02:47,080 Speaker 5: well known for, like like the big you know, breaking 53 00:02:47,240 --> 00:02:50,880 Speaker 5: records kind of make athletes better sort of thing. So 54 00:02:50,880 --> 00:02:52,280 Speaker 5: that's what we're seeing out of Nike right now. 55 00:02:52,919 --> 00:02:56,840 Speaker 7: You know, we talked recently about how Nike just wasn't 56 00:02:57,000 --> 00:03:00,200 Speaker 7: really the cool kid shoe anymore. Like they're not what 57 00:03:00,240 --> 00:03:03,000 Speaker 7: sneaker heads are wearing, They're not what people were excited about. 58 00:03:03,120 --> 00:03:04,080 Speaker 2: That's what I'm wearing. 59 00:03:04,840 --> 00:03:06,160 Speaker 8: Well, it's what I always wear. 60 00:03:06,240 --> 00:03:08,080 Speaker 7: And I was like, wow, I guess I'm not cool anymore. 61 00:03:08,120 --> 00:03:11,000 Speaker 7: I don't know what the kids wear these days. But 62 00:03:11,120 --> 00:03:13,320 Speaker 7: are is that something that's coming back for them now? 63 00:03:13,400 --> 00:03:14,120 Speaker 6: Is it? 64 00:03:14,160 --> 00:03:15,239 Speaker 9: Is it are they cool again? 65 00:03:15,320 --> 00:03:16,400 Speaker 7: Or is it all about performance? 66 00:03:16,440 --> 00:03:19,919 Speaker 5: And for sure, trying right and performance is part of that. 67 00:03:20,440 --> 00:03:22,720 Speaker 5: Like you saw their super Bowl ad this year, their 68 00:03:22,760 --> 00:03:25,040 Speaker 5: first Super Bowl ad in decades, right, and it was 69 00:03:25,080 --> 00:03:29,160 Speaker 5: a women's sports Super Bowl ad. They're back to this 70 00:03:29,240 --> 00:03:34,960 Speaker 5: these like big sports anthemic advertising, they're they're also working 71 00:03:35,040 --> 00:03:37,520 Speaker 5: on these performance products in a way that it is 72 00:03:37,640 --> 00:03:42,040 Speaker 5: cool if you develop something that makes someone win a 73 00:03:42,200 --> 00:03:44,720 Speaker 5: game or a race or whatever, it is something that 74 00:03:44,720 --> 00:03:47,480 Speaker 5: that that helps them along and it creates this aura 75 00:03:47,480 --> 00:03:50,120 Speaker 5: around the around the brand that that people want to 76 00:03:50,160 --> 00:03:51,680 Speaker 5: communicate and act with. 77 00:03:51,760 --> 00:03:55,320 Speaker 3: You know, So you were in Beaverton, Oregon not long ago. Correct, Yes, 78 00:03:55,320 --> 00:03:58,400 Speaker 3: that's right, that's right. That's right. So Phil McCartney, the 79 00:03:58,440 --> 00:04:02,040 Speaker 3: new Chief Product officer for Night, talk to us about 80 00:04:02,080 --> 00:04:05,320 Speaker 3: this sport offense that CEO Elliot Hill has announced. I mean, 81 00:04:05,320 --> 00:04:07,280 Speaker 3: what is the deal with that? I mean, is that 82 00:04:07,400 --> 00:04:11,560 Speaker 3: bringing together all of the creative talent within Jordan Nike 83 00:04:11,720 --> 00:04:14,080 Speaker 3: Converse under one roof? Is that really gonna happen? 84 00:04:14,160 --> 00:04:17,240 Speaker 5: That's exactly right. So this is what happened after Elliot Hill, 85 00:04:17,320 --> 00:04:21,000 Speaker 5: the new CEO, took over last October. He reorganizes teams 86 00:04:21,000 --> 00:04:23,839 Speaker 5: around sports instead of men's and women's and however else 87 00:04:23,839 --> 00:04:26,120 Speaker 5: you want to organize it. So there's like a dedicated 88 00:04:26,120 --> 00:04:29,080 Speaker 5: team to basketball, right, That's how they're looking at it, 89 00:04:29,320 --> 00:04:31,520 Speaker 5: and that way they can they can develop products and 90 00:04:31,560 --> 00:04:35,520 Speaker 5: it's in synct with marketing and everything over certain individual sports. 91 00:04:35,960 --> 00:04:37,840 Speaker 3: So they have a jacket, then in flates. 92 00:04:37,920 --> 00:04:39,080 Speaker 5: They do have a jacket then in flate. 93 00:04:39,120 --> 00:04:40,440 Speaker 3: Did you try it on? Did you fly away? 94 00:04:40,480 --> 00:04:40,560 Speaker 10: Oh? 95 00:04:40,640 --> 00:04:41,320 Speaker 2: Yeah, I did try it. 96 00:04:41,400 --> 00:04:42,440 Speaker 3: I mean, what's up? 97 00:04:42,520 --> 00:04:46,960 Speaker 5: It's not helium Like, it doesn't plate that the concept 98 00:04:47,000 --> 00:04:50,320 Speaker 5: behind that. Let me go through the things that they 99 00:04:50,440 --> 00:04:53,920 Speaker 5: shore over at the headquart One is a jacket that inflates. 100 00:04:54,279 --> 00:04:56,480 Speaker 5: The more air that's in it, you're supposed to keep 101 00:04:56,520 --> 00:05:00,279 Speaker 5: you warmer. And it does feel really strange, so like 102 00:05:00,400 --> 00:05:02,440 Speaker 5: you hook something up to it and it just puts 103 00:05:02,440 --> 00:05:04,040 Speaker 5: the air in and then you push it out if 104 00:05:04,040 --> 00:05:06,920 Speaker 5: you want it smaller. That's set to debut I believe 105 00:05:06,960 --> 00:05:08,920 Speaker 5: at the Milan Olympics next year. 106 00:05:09,080 --> 00:05:09,320 Speaker 7: Wow. 107 00:05:10,000 --> 00:05:12,360 Speaker 5: Some of the things. They have a shoe that's supposed 108 00:05:12,400 --> 00:05:17,320 Speaker 5: to make your make you calm like before after an 109 00:05:17,320 --> 00:05:20,359 Speaker 5: intense athletic endeavor like a game or a race or 110 00:05:20,400 --> 00:05:23,400 Speaker 5: whatever it is, So it stimulates pressure points in the 111 00:05:23,440 --> 00:05:26,880 Speaker 5: bottom of your feet in order to trigger responses in 112 00:05:26,920 --> 00:05:31,280 Speaker 5: your brain massaging ship. It felt weird, like it really 113 00:05:31,440 --> 00:05:34,960 Speaker 5: the bottom of your feet gets It's odd. 114 00:05:36,520 --> 00:05:38,479 Speaker 7: That sounds like something that a lot of people would 115 00:05:38,560 --> 00:05:40,560 Speaker 7: jump on, like professional athletes be all. 116 00:05:40,720 --> 00:05:43,960 Speaker 5: Over that, Okay, a couple other things. The arrow fit 117 00:05:44,040 --> 00:05:48,760 Speaker 5: fabric is supposed to help regulate your body heat, so 118 00:05:48,760 --> 00:05:50,520 Speaker 5: that's going to go in like soccer jersey, so when 119 00:05:50,520 --> 00:05:52,440 Speaker 5: you're going through you don't feel feel so hot. 120 00:05:53,600 --> 00:05:56,560 Speaker 2: It's a lot of time, right, What happened to the 121 00:05:56,600 --> 00:05:59,640 Speaker 2: pro kids? That was? That was my speed and Converse 122 00:05:59,760 --> 00:06:03,839 Speaker 2: All Stars and Chuck Taylor's And now on top of 123 00:06:03,920 --> 00:06:07,800 Speaker 2: all that you mentioned, they also have almost like a 124 00:06:07,880 --> 00:06:10,880 Speaker 2: slipper is the best way I can describe it. That 125 00:06:11,480 --> 00:06:14,440 Speaker 2: probably will get over just with the regular folks like me. 126 00:06:14,760 --> 00:06:18,840 Speaker 5: Yes, people like science, yeah, and anything that can make 127 00:06:18,839 --> 00:06:23,440 Speaker 5: you bad. The most ambitious thing they showed me though, 128 00:06:23,680 --> 00:06:28,240 Speaker 5: was something called Project Amplify. And the way did they 129 00:06:28,279 --> 00:06:30,559 Speaker 5: describe it is that it's an e bike for your feet. 130 00:06:31,400 --> 00:06:34,919 Speaker 5: And I tried it on and it is a surreal experience. 131 00:06:34,960 --> 00:06:36,320 Speaker 5: So you put on a shoe. 132 00:06:36,240 --> 00:06:38,200 Speaker 3: Those the sensory shoes, the ones like you're supposed to 133 00:06:38,200 --> 00:06:40,039 Speaker 3: feel the grass like a tickle of grass underneath. 134 00:06:40,080 --> 00:06:42,400 Speaker 5: No no, no, no, put you put the shoe on and 135 00:06:42,440 --> 00:06:45,599 Speaker 5: then it straps around your your calf and then whenever 136 00:06:45,640 --> 00:06:49,039 Speaker 5: you take a step, it boosts you forward as a 137 00:06:49,200 --> 00:06:52,240 Speaker 5: move and you start running in it, and suddenly, like 138 00:06:52,320 --> 00:06:54,400 Speaker 5: the person running next to you who's not wearing these 139 00:06:54,440 --> 00:06:57,400 Speaker 5: things is like panting and exhausted, and you're like, I'm good. 140 00:06:57,400 --> 00:06:59,080 Speaker 3: Oh, so like running up hill like so it makes 141 00:06:59,120 --> 00:07:01,000 Speaker 3: like a like a like can incline into a flat 142 00:07:01,040 --> 00:07:02,000 Speaker 3: surface sort of in a way. 143 00:07:02,160 --> 00:07:04,039 Speaker 5: You can just go and it's just you can feel 144 00:07:04,080 --> 00:07:05,040 Speaker 5: a little boost in your hand. 145 00:07:05,400 --> 00:07:07,400 Speaker 3: Pretty soon you too will be able to slam dunk 146 00:07:07,440 --> 00:07:10,200 Speaker 3: on a professional NBA room with these guys, I. 147 00:07:10,200 --> 00:07:12,760 Speaker 2: Would need that shoe and an ai. 148 00:07:12,680 --> 00:07:15,960 Speaker 5: Reverse the windmill. 149 00:07:16,000 --> 00:07:19,680 Speaker 2: But it is amazing. As i'm as I have more 150 00:07:19,720 --> 00:07:23,880 Speaker 2: pictures of it. Can that be used in a marathon? 151 00:07:23,960 --> 00:07:25,600 Speaker 2: Or will they call that an illegal shoe? 152 00:07:26,120 --> 00:07:28,600 Speaker 9: That's yeah, that's that's my question. 153 00:07:28,680 --> 00:07:32,800 Speaker 7: There's this is clearly not something used for performance in 154 00:07:32,880 --> 00:07:35,559 Speaker 7: a competition, So what's the point of having a shoe 155 00:07:35,560 --> 00:07:35,880 Speaker 7: like that? 156 00:07:36,280 --> 00:07:38,400 Speaker 5: It could be used for a few a few Nike 157 00:07:38,520 --> 00:07:41,520 Speaker 5: things in the past have been more for medical purposes 158 00:07:41,560 --> 00:07:44,600 Speaker 5: like self lacing and and the flyees that you can 159 00:07:44,600 --> 00:07:46,240 Speaker 5: just slip your shoe on if you can't bend over 160 00:07:46,280 --> 00:07:47,120 Speaker 5: to slip your shoe on. 161 00:07:47,160 --> 00:07:48,600 Speaker 2: That that really. 162 00:07:48,360 --> 00:07:51,400 Speaker 5: Helps those people. So it is if you want to 163 00:07:51,600 --> 00:07:54,720 Speaker 5: if you can't walk long distances and want to like, 164 00:07:54,760 --> 00:07:56,480 Speaker 5: this is the type of thing that would certainly help 165 00:07:56,520 --> 00:07:59,320 Speaker 5: you perform at at a level that you previously couldn't. 166 00:08:00,200 --> 00:08:03,000 Speaker 3: They also are making clothing so that it's focused on 167 00:08:03,040 --> 00:08:05,920 Speaker 3: the areas where you persprie. It persprire the the most right, 168 00:08:05,960 --> 00:08:08,520 Speaker 3: so it gives you ventilation, so you know, maybe under 169 00:08:08,560 --> 00:08:09,120 Speaker 3: your arms. 170 00:08:09,560 --> 00:08:09,880 Speaker 2: So cool. 171 00:08:09,880 --> 00:08:11,440 Speaker 5: They talk about I'm not a scientist, but they talk 172 00:08:11,480 --> 00:08:14,560 Speaker 5: about like like like that sounded awesome. Now, yeah, like 173 00:08:14,600 --> 00:08:17,160 Speaker 5: you have a you have your own climate right between 174 00:08:17,160 --> 00:08:19,040 Speaker 5: you and your clothes, and how to how to. 175 00:08:19,120 --> 00:08:21,040 Speaker 3: Be a charging station. You got to like be plugged 176 00:08:21,040 --> 00:08:23,520 Speaker 3: into the side of the wall for fifteen minutes something 177 00:08:23,560 --> 00:08:24,160 Speaker 3: like that. 178 00:08:24,560 --> 00:08:27,480 Speaker 7: Is that not what already like cool gear like undrummer 179 00:08:27,560 --> 00:08:28,960 Speaker 7: stuff already is Yeah. 180 00:08:28,840 --> 00:08:34,000 Speaker 5: Yeah, exactly, And moisture wicking fabric on Lululemon pants and everything. 181 00:08:34,760 --> 00:08:36,080 Speaker 5: The whole industry is working. 182 00:08:36,120 --> 00:08:38,080 Speaker 7: So they're just like late to the game essentially. 183 00:08:38,080 --> 00:08:42,000 Speaker 2: They have some alrighty well, one of the biggest problems 184 00:08:42,000 --> 00:08:44,920 Speaker 2: that Nike had was that their shoes were not getting 185 00:08:44,960 --> 00:08:49,840 Speaker 2: into the shoe stores, and you know, in that five 186 00:08:49,920 --> 00:08:54,239 Speaker 2: year period where they were slumping, but now that has turned. 187 00:08:53,960 --> 00:08:57,240 Speaker 5: Around, especially on the performance side, Like I had a 188 00:08:57,360 --> 00:08:59,719 Speaker 5: jarring experience out in Portland. I was writing a story 189 00:08:59,760 --> 00:09:02,200 Speaker 5: about Nike last year and I went to Fleet Feet. 190 00:09:02,280 --> 00:09:05,520 Speaker 5: That's a specialty running company. It sells running shoes and 191 00:09:05,600 --> 00:09:08,560 Speaker 5: running gear for runners. And you go in and you 192 00:09:08,600 --> 00:09:10,680 Speaker 5: see the Mizunos, and you see the Ons, and you 193 00:09:10,720 --> 00:09:13,440 Speaker 5: see the Hookahs, and you see every brand in the world, 194 00:09:13,520 --> 00:09:16,160 Speaker 5: and you ask them, hey, y'all have any Nikes here? 195 00:09:17,040 --> 00:09:20,640 Speaker 3: No, not right now? Right, so to ear space huh. 196 00:09:20,600 --> 00:09:21,680 Speaker 5: Yeah, and they have to earn that shelf. 197 00:09:21,720 --> 00:09:21,920 Speaker 2: Stage. 198 00:09:22,080 --> 00:09:24,640 Speaker 5: They're back in Fleet Feet now, but again, like now, 199 00:09:24,640 --> 00:09:27,280 Speaker 5: they're just alongside everyone who had taken their place before 200 00:09:27,320 --> 00:09:29,960 Speaker 5: and all these brands that choppers have been looking at 201 00:09:30,040 --> 00:09:32,120 Speaker 5: and trying out over the last five years. 202 00:09:32,679 --> 00:09:35,560 Speaker 7: Was it also something that we saw from the professional 203 00:09:35,600 --> 00:09:40,240 Speaker 7: athletes side, professional runners not wanting to be sponsored. 204 00:09:39,800 --> 00:09:42,199 Speaker 5: By them, Well, it depends, they're all everyone wants a 205 00:09:42,200 --> 00:09:47,160 Speaker 5: sponsorship right in some ways. But a common gripe from 206 00:09:47,200 --> 00:09:50,240 Speaker 5: athletes at Nike is that you're just one of many, many, many, 207 00:09:50,240 --> 00:09:55,200 Speaker 5: many many people within their portfolio. So some of them 208 00:09:55,240 --> 00:09:57,160 Speaker 5: like to sign with smaller brands, even if they don't 209 00:09:57,160 --> 00:09:59,600 Speaker 5: pay as well or whatever. The situation is because they 210 00:09:59,640 --> 00:10:01,600 Speaker 5: get to be a bigger star at that smaller brand. 211 00:10:01,800 --> 00:10:04,040 Speaker 3: Well for an audience, it's just like clarify here. Under 212 00:10:04,080 --> 00:10:07,720 Speaker 3: former CEO John Donahoe, you know, Nike began prioritizing direct 213 00:10:07,760 --> 00:10:11,680 Speaker 3: to consumer sales over its partnerships with foot Locker and Dix, 214 00:10:11,679 --> 00:10:14,559 Speaker 3: et cetera. But now foot Locker and Dix are one 215 00:10:14,559 --> 00:10:17,319 Speaker 3: and the same. Right to get the challenge wants to 216 00:10:17,320 --> 00:10:18,800 Speaker 3: be that much harder. But you know, you know, we 217 00:10:19,160 --> 00:10:22,440 Speaker 3: recently had a great interview on the show and they 218 00:10:22,480 --> 00:10:25,319 Speaker 3: were talking about the Dick superstores and within the superstores, 219 00:10:25,320 --> 00:10:27,520 Speaker 3: what my understanding is is that Nike's gonna have its 220 00:10:27,520 --> 00:10:31,160 Speaker 3: own almost like mini store or mini section. Is that 221 00:10:31,240 --> 00:10:34,640 Speaker 3: really the future of bricks and mortar retail in the 222 00:10:34,679 --> 00:10:35,400 Speaker 3: sports industry? 223 00:10:35,920 --> 00:10:38,559 Speaker 5: I think with with Nike in particular, as it's looking 224 00:10:38,600 --> 00:10:43,240 Speaker 5: back at rebuilding its relationship with these wholesalers, they're looking 225 00:10:43,240 --> 00:10:46,400 Speaker 5: for like a nice presentation anywhere they go, right, It 226 00:10:46,440 --> 00:10:48,440 Speaker 5: was a common gripe from ten years ago. If you're 227 00:10:48,480 --> 00:10:51,520 Speaker 5: sold in like a lower end shoe store or even 228 00:10:51,520 --> 00:10:53,680 Speaker 5: a foot locker, if you're on a wall with every 229 00:10:53,720 --> 00:10:56,320 Speaker 5: other shoe, you don't stand out at all. Right, So 230 00:10:56,440 --> 00:10:58,720 Speaker 5: all these brands they want their own spaces and stores. 231 00:10:58,720 --> 00:11:01,600 Speaker 5: They want like more more experiential things where you enter 232 00:11:01,640 --> 00:11:03,440 Speaker 5: an area and it's all about Nike and you can 233 00:11:03,520 --> 00:11:05,559 Speaker 5: learn about the shoes, and you can try things on, 234 00:11:05,640 --> 00:11:08,160 Speaker 5: you can jump in them and test how high you 235 00:11:08,400 --> 00:11:10,880 Speaker 5: just leaped in that thing that the new foot lockers 236 00:11:10,880 --> 00:11:14,240 Speaker 5: have those built into their basketball sections. Like that's what 237 00:11:14,280 --> 00:11:17,280 Speaker 5: retail is becoming, and Nike wants as big a part 238 00:11:17,280 --> 00:11:18,240 Speaker 5: of that as it can get. 239 00:11:18,600 --> 00:11:21,719 Speaker 2: Now the new CEO, when I use the phrase new, 240 00:11:21,760 --> 00:11:26,280 Speaker 2: I put it in quotes, but he has fired about 241 00:11:26,280 --> 00:11:30,000 Speaker 2: a percent of the executive staff and he brought in 242 00:11:30,440 --> 00:11:33,480 Speaker 2: new voices and new faces. How is that working out? 243 00:11:33,559 --> 00:11:33,920 Speaker 2: So far? 244 00:11:34,240 --> 00:11:37,200 Speaker 5: Everything's very new at Nike right now. He replaced most 245 00:11:37,280 --> 00:11:41,640 Speaker 5: of his direct reports to lots of oustings, promotions, new hires, 246 00:11:41,679 --> 00:11:44,600 Speaker 5: and everything just in the C suite alone. And there 247 00:11:44,640 --> 00:11:48,400 Speaker 5: were limited layoffs at Nike also recently as they restructured 248 00:11:48,400 --> 00:11:51,839 Speaker 5: around these sports based teams. So it's all new group 249 00:11:52,120 --> 00:11:55,000 Speaker 5: up there at the top of Nike making these decisions, 250 00:11:55,400 --> 00:11:59,960 Speaker 5: and so far the turnaround seems to have just got 251 00:12:00,360 --> 00:12:04,040 Speaker 5: into its very earliest stages, Like they've cleared out much 252 00:12:04,040 --> 00:12:05,760 Speaker 5: of the old inventory that they need to clear out 253 00:12:05,760 --> 00:12:08,280 Speaker 5: to replace it with all this new stuff. Uh. And 254 00:12:08,400 --> 00:12:11,920 Speaker 5: now like from here, they the executives keep saying, it's 255 00:12:11,960 --> 00:12:15,040 Speaker 5: this recovery will not be linear, but it certainly has 256 00:12:15,080 --> 00:12:19,320 Speaker 5: to be linear over a long term, right, And just 257 00:12:19,360 --> 00:12:20,560 Speaker 5: to keep that arrow going up. 258 00:12:20,960 --> 00:12:24,160 Speaker 7: Kim, you mentioned that the jacket that they're creating and 259 00:12:24,200 --> 00:12:27,960 Speaker 7: debuting at the Milan Olympics, the Milan Winter Olympics next year. 260 00:12:28,280 --> 00:12:30,480 Speaker 7: But they have the Olympics and then the World Cup 261 00:12:30,640 --> 00:12:32,680 Speaker 7: shortly after. How much of their focus is going to 262 00:12:32,760 --> 00:12:33,840 Speaker 7: those two major events. 263 00:12:33,920 --> 00:12:36,280 Speaker 5: I expect it'll be a big, big focus for not 264 00:12:36,320 --> 00:12:39,720 Speaker 5: just Nike, but but all these athletic brands. Nike in particular, 265 00:12:39,760 --> 00:12:42,240 Speaker 5: now that it's back to this big these instead of 266 00:12:42,240 --> 00:12:44,720 Speaker 5: like these little internet clicky ads, They're they're going big 267 00:12:44,760 --> 00:12:48,680 Speaker 5: with this stuff. And especially now that they've reorganized around sports, 268 00:12:49,160 --> 00:12:52,079 Speaker 5: these big sporting events will be Nike's big sporting events 269 00:12:52,520 --> 00:12:54,680 Speaker 5: as well, So the Olympics, the World Cup, the World 270 00:12:54,720 --> 00:12:59,040 Speaker 5: Cup in particular because Elliott Hill, the CEO, has stated 271 00:12:59,080 --> 00:13:02,880 Speaker 5: that Global foot will be one of Nike's five big 272 00:13:03,320 --> 00:13:08,040 Speaker 5: categories going forward and they will be investing in that category. 273 00:13:08,080 --> 00:13:11,200 Speaker 5: And that's where you go one on one directly with Adidas, 274 00:13:11,280 --> 00:13:14,120 Speaker 5: right that is that is that smash mouth fight that 275 00:13:14,120 --> 00:13:14,800 Speaker 5: that you want to see. 276 00:13:14,840 --> 00:13:16,640 Speaker 3: Well, Kim, I mean the reason we're talking about Nike 277 00:13:16,679 --> 00:13:17,840 Speaker 3: not only in the fact that you were there, but 278 00:13:17,880 --> 00:13:20,320 Speaker 3: they had a great earnings quarter and you know the 279 00:13:20,440 --> 00:13:22,040 Speaker 3: stock is up on the back of these as is 280 00:13:22,120 --> 00:13:25,559 Speaker 3: Adi das. But I'm curious, you know, on that earnings call, 281 00:13:25,679 --> 00:13:28,080 Speaker 3: did CEO Eliot Hill at all discuss the impact of 282 00:13:28,200 --> 00:13:31,800 Speaker 3: tariffs and on their business and how that's impacting input 283 00:13:31,800 --> 00:13:34,120 Speaker 3: prices and you know, margins and that sort of thing. 284 00:13:34,160 --> 00:13:35,200 Speaker 3: Is that going to be a big topic? 285 00:13:35,440 --> 00:13:37,800 Speaker 5: He did, And it's getting worse. So they said it 286 00:13:37,840 --> 00:13:40,439 Speaker 5: was going to be about a billion in costs before 287 00:13:40,600 --> 00:13:43,640 Speaker 5: now that number is up to one point five. Nike 288 00:13:43,720 --> 00:13:47,760 Speaker 5: has said it will be using targeted or what's what's there, 289 00:13:47,840 --> 00:13:52,199 Speaker 5: what's their jargon for this surgical surgical price increases across 290 00:13:52,240 --> 00:13:55,439 Speaker 5: their across their product lines. I expect them to defend 291 00:13:55,559 --> 00:13:58,640 Speaker 5: the or protect the prices of the biggest products, right 292 00:13:58,679 --> 00:14:02,760 Speaker 5: like the White Air Force and these really core products. 293 00:14:02,760 --> 00:14:04,600 Speaker 5: They'll work as much as they can to keep them 294 00:14:04,600 --> 00:14:08,120 Speaker 5: where they are. But yeah, you'll see prices rate continue 295 00:14:08,160 --> 00:14:09,480 Speaker 5: to rise at Nike going forward. 296 00:14:09,760 --> 00:14:13,000 Speaker 3: Our thanks to Bloomberg News senior reporter Kim Bessin for 297 00:14:13,080 --> 00:14:14,040 Speaker 3: joining us up. 298 00:14:14,080 --> 00:14:17,000 Speaker 2: Next, we turned to the WNBA and a brand new 299 00:14:17,080 --> 00:14:20,560 Speaker 2: show from ESPN with a focus on women's sports. For 300 00:14:20,760 --> 00:14:24,800 Speaker 2: my colleagues, Damian Sasaur and Vanessa Perdomo. I'm Michael Barn. 301 00:14:24,960 --> 00:14:28,760 Speaker 2: You are listening to the Bloomberg Business of Sports Bloomberg 302 00:14:28,960 --> 00:14:30,280 Speaker 2: Radio around the Burg. 303 00:14:35,280 --> 00:14:39,280 Speaker 1: This is Bloomberg Business of Sports from Bloomberg Radio. 304 00:14:40,600 --> 00:14:43,120 Speaker 2: This is the Bloomberg Business of Sports. Will be explore 305 00:14:43,160 --> 00:14:45,360 Speaker 2: the big money issues in the world of sports. 306 00:14:45,360 --> 00:14:48,160 Speaker 3: I'm Michael Barr, I'm Damian Tasauer, and I'm Vanessa Prodomo. 307 00:14:48,760 --> 00:14:52,000 Speaker 2: ESPN has a new show streaming on Disney Plus called 308 00:14:52,160 --> 00:14:57,960 Speaker 2: Vibe Check, hosted by l Nuncan, Jeney Ogoomakay and Arie Chambers. 309 00:14:58,360 --> 00:15:01,320 Speaker 7: Bloomberg Original's chief correspond and Jason Kelly got a chance 310 00:15:01,360 --> 00:15:03,160 Speaker 7: to sit down with El, China and Ari from the 311 00:15:03,200 --> 00:15:06,600 Speaker 7: sidelines of the usc Next Level Sports Conference in LA 312 00:15:06,640 --> 00:15:09,240 Speaker 7: and they spoke about their new show, the WNBA and more. 313 00:15:09,360 --> 00:15:11,040 Speaker 7: Let's listen to a portion of their conversation. 314 00:15:11,600 --> 00:15:15,120 Speaker 11: So I'll start with you like tell us about this show, 315 00:15:15,240 --> 00:15:18,560 Speaker 11: like what is it? Like, what what did you conceive 316 00:15:18,640 --> 00:15:20,600 Speaker 11: of it? And how's it going. 317 00:15:21,360 --> 00:15:23,760 Speaker 4: Yeah, So I think that the conception of this show 318 00:15:23,960 --> 00:15:28,120 Speaker 4: was a space where like we could talk about women's sports, 319 00:15:28,800 --> 00:15:33,120 Speaker 4: but talk about them from our own perspective. And I think, 320 00:15:33,320 --> 00:15:36,240 Speaker 4: you know, the goal in putting Vibe Check together was 321 00:15:36,320 --> 00:15:40,880 Speaker 4: not that like we wanted to be super overly intentional about. 322 00:15:40,640 --> 00:15:42,680 Speaker 9: Like, let's get the female perspective. 323 00:15:42,960 --> 00:15:46,120 Speaker 4: We are women, and so our perspective on sports, whether 324 00:15:46,160 --> 00:15:48,880 Speaker 4: that be a women's sport or a male sport, will 325 00:15:48,960 --> 00:15:51,800 Speaker 4: skew women and female because that's what we are. So 326 00:15:51,920 --> 00:15:53,600 Speaker 4: for us, it was just more about being able to 327 00:15:53,680 --> 00:15:57,880 Speaker 4: unpack more stories, bringing in amazing people like Ari, who 328 00:15:57,960 --> 00:16:01,520 Speaker 4: has such a temperature on the women's sports culture and 329 00:16:01,560 --> 00:16:03,280 Speaker 4: has for so many years, Like giving her a place 330 00:16:03,280 --> 00:16:05,359 Speaker 4: where she could cook and have all of this information 331 00:16:05,480 --> 00:16:08,280 Speaker 4: that she's got about whatever it is, from gymnastics to 332 00:16:08,280 --> 00:16:11,240 Speaker 4: women's basketball, and I think that's, you know, the ability 333 00:16:11,280 --> 00:16:14,600 Speaker 4: to showcase all of this incredible women talent at ESPN 334 00:16:15,120 --> 00:16:17,480 Speaker 4: was really probably the force multiplier of wanting to do 335 00:16:17,520 --> 00:16:21,480 Speaker 4: this show because in their respective roles, we're all sort 336 00:16:21,520 --> 00:16:23,160 Speaker 4: of limited to the time that we have and the 337 00:16:23,240 --> 00:16:24,720 Speaker 4: role that we have. But this is the place where 338 00:16:24,720 --> 00:16:27,800 Speaker 4: everybody can come and unpack everything that they know in 339 00:16:27,840 --> 00:16:29,320 Speaker 4: an environment that's super warm. 340 00:16:30,080 --> 00:16:32,000 Speaker 9: And I think it's going pretty well, right. 341 00:16:32,960 --> 00:16:38,040 Speaker 10: I think the vibes are high, vibes are immaculate. Yeah, 342 00:16:38,080 --> 00:16:40,920 Speaker 10: you asked about the inception or conception of it. It 343 00:16:40,960 --> 00:16:44,520 Speaker 10: came from authenticity. So, girl, where we're working in the tournament. 344 00:16:44,520 --> 00:16:48,280 Speaker 10: We're working in NCAA tournament, and they give us so 345 00:16:48,400 --> 00:16:51,320 Speaker 10: much content and obviously working with Andrance, like, you're going 346 00:16:51,320 --> 00:16:54,400 Speaker 10: into this basketball matrix. So all needed an easy way 347 00:16:54,680 --> 00:16:56,320 Speaker 10: to get our thoughts because. 348 00:16:56,080 --> 00:16:56,680 Speaker 8: We're going to break. 349 00:16:56,680 --> 00:16:58,760 Speaker 10: We're cutting through so many different games, and so she's like, 350 00:16:58,840 --> 00:17:01,520 Speaker 10: let's just do something like vibe check, where I give 351 00:17:01,520 --> 00:17:04,680 Speaker 10: out two answers and you pick from them and see 352 00:17:04,720 --> 00:17:06,760 Speaker 10: if you two are on the same vibe. So that 353 00:17:06,880 --> 00:17:09,040 Speaker 10: was the start of vibe check because both of us 354 00:17:09,160 --> 00:17:12,640 Speaker 10: just can go here to these basketball crazy dark corners. 355 00:17:13,600 --> 00:17:15,600 Speaker 10: But yeah, I remember the first one too. 356 00:17:15,600 --> 00:17:16,399 Speaker 9: Do you remember what it was? 357 00:17:16,480 --> 00:17:16,560 Speaker 12: No? 358 00:17:16,680 --> 00:17:18,920 Speaker 8: What wasn't it was? Yes? 359 00:17:19,320 --> 00:17:19,600 Speaker 12: All right? 360 00:17:20,240 --> 00:17:22,960 Speaker 9: I asked them what's going to be the second half? Storyline? 361 00:17:23,000 --> 00:17:23,720 Speaker 9: Three two one, and. 362 00:17:23,720 --> 00:17:26,960 Speaker 10: The most I think dress said the refs, and I said. 363 00:17:26,760 --> 00:17:29,800 Speaker 9: The referee, I'm gonna look. 364 00:17:29,640 --> 00:17:30,920 Speaker 8: On my mind. Yeah, just short. 365 00:17:31,520 --> 00:17:33,840 Speaker 10: But that's where it started, just saying if we're on 366 00:17:33,880 --> 00:17:35,919 Speaker 10: the same page, and from there it was like the 367 00:17:35,920 --> 00:17:38,880 Speaker 10: most authentic thing. It created a greater space for more voices, 368 00:17:39,200 --> 00:17:42,240 Speaker 10: more sports, and just for us to be ourselves because 369 00:17:42,280 --> 00:17:45,359 Speaker 10: oftentime at ESPN, she's working sports and you're working one 370 00:17:45,440 --> 00:17:49,600 Speaker 10: hundred million different events. I'm working NBA. But this was 371 00:17:49,640 --> 00:17:51,960 Speaker 10: a space for us to be ourselves. 372 00:17:52,000 --> 00:17:55,000 Speaker 11: So alright, come in here to tell us about that 373 00:17:55,080 --> 00:17:58,000 Speaker 11: exact point, because you know, obviously women's sports, we're going 374 00:17:58,080 --> 00:18:00,399 Speaker 11: to talk a lot about that. Yeah, are right seeing 375 00:18:00,560 --> 00:18:04,920 Speaker 11: in popularity, in viewership, in attention at ESPN and elsewhere? 376 00:18:05,080 --> 00:18:07,919 Speaker 11: What are you How is that manifesting in your work 377 00:18:07,960 --> 00:18:09,239 Speaker 11: and how do you see it showing up? 378 00:18:09,280 --> 00:18:14,440 Speaker 12: Well, because it's increasingly popular, I can change or transform 379 00:18:14,800 --> 00:18:18,000 Speaker 12: transfer my energy from advocacy to storytelling. All I ever 380 00:18:18,040 --> 00:18:21,119 Speaker 12: wanted to do is amplify in storytell around women's sports, 381 00:18:21,160 --> 00:18:24,520 Speaker 12: women athletes, and voc Check gives me the opportunity to 382 00:18:24,600 --> 00:18:27,040 Speaker 12: do that. We have this big comfy couch that LL 383 00:18:27,119 --> 00:18:30,240 Speaker 12: typically sits on with their feed up, and we bring 384 00:18:30,240 --> 00:18:33,320 Speaker 12: in guests and get to just be the voice for 385 00:18:33,359 --> 00:18:36,960 Speaker 12: them or help relay whatever they want to relay, and 386 00:18:37,000 --> 00:18:40,120 Speaker 12: then we can share our perspectives and I can focus 387 00:18:40,200 --> 00:18:46,840 Speaker 12: on with my great teammates sharing instead of breaking down 388 00:18:46,920 --> 00:18:50,960 Speaker 12: these doors. Yes, it exists to be the standard be 389 00:18:51,000 --> 00:18:54,359 Speaker 12: in an innovative space, but it also exists as another 390 00:18:54,400 --> 00:18:56,680 Speaker 12: megaphone for what we're already doing right. 391 00:18:56,760 --> 00:18:59,040 Speaker 11: And it's interesting that you frame it like that, because 392 00:18:59,560 --> 00:19:02,560 Speaker 11: it does feel like they're in the best possible way. 393 00:19:03,000 --> 00:19:05,720 Speaker 11: When you turn on the show, everybody's sort of in, 394 00:19:05,960 --> 00:19:08,520 Speaker 11: you know, there's not sort of a like, Okay, we're 395 00:19:08,520 --> 00:19:10,840 Speaker 11: gonna explain to you what's going on. It's like, welcome in. 396 00:19:11,040 --> 00:19:14,080 Speaker 11: This is happening. So just like and we've been felt 397 00:19:14,080 --> 00:19:16,520 Speaker 11: that on stage. I mean that feels very intentional. 398 00:19:16,600 --> 00:19:16,919 Speaker 8: Shanai. 399 00:19:17,160 --> 00:19:20,480 Speaker 10: Yeah, it absolutely is, because one we understand that every 400 00:19:20,520 --> 00:19:22,600 Speaker 10: second is an opportunity for us to talk about what 401 00:19:22,600 --> 00:19:24,439 Speaker 10: we love. We don't take this for granted because it 402 00:19:24,440 --> 00:19:27,439 Speaker 10: doesn't happen often. We're always a mix of people because 403 00:19:27,440 --> 00:19:29,919 Speaker 10: we have so many amazing voices at ESPN and beyond 404 00:19:30,160 --> 00:19:31,560 Speaker 10: that can be a part of it. So the moment 405 00:19:31,600 --> 00:19:34,600 Speaker 10: we say shows on we're in it. Elle always has 406 00:19:34,600 --> 00:19:38,840 Speaker 10: something cooked up some joke, some scheme, some skit. I 407 00:19:38,880 --> 00:19:41,760 Speaker 10: am already prepping for how I'm going to take down Drea. 408 00:19:41,800 --> 00:19:44,000 Speaker 10: In an argument, Ari is telling us what is the 409 00:19:44,000 --> 00:19:46,159 Speaker 10: most important thing that happens in women's sports to stay 410 00:19:46,359 --> 00:19:48,800 Speaker 10: and communicating with Guess she's known her whole life basically, 411 00:19:49,359 --> 00:19:52,760 Speaker 10: So I think we understand that the short show is 412 00:19:52,800 --> 00:19:55,040 Speaker 10: shorter than most, and so we want to give it 413 00:19:55,080 --> 00:19:56,200 Speaker 10: the best punch ever. 414 00:19:56,520 --> 00:19:58,800 Speaker 8: And that's why I think it's always but even beyond. 415 00:19:58,520 --> 00:20:03,280 Speaker 12: That, yes, getting to know us, it's a bigger, a 416 00:20:03,320 --> 00:20:05,320 Speaker 12: better space for you to know us as people. I 417 00:20:05,520 --> 00:20:07,159 Speaker 12: see I look on the wall and I see a 418 00:20:07,160 --> 00:20:10,040 Speaker 12: Stanford flag, I see Tennessee flag. I see all of 419 00:20:10,960 --> 00:20:13,240 Speaker 12: L's ATL trinkets. 420 00:20:13,240 --> 00:20:14,040 Speaker 9: Out of outcast. 421 00:20:14,560 --> 00:20:17,680 Speaker 12: Literally there are bobbleheads of outcasts right there. Under three 422 00:20:17,680 --> 00:20:19,680 Speaker 12: thousand is right there. But it helps you get to 423 00:20:19,720 --> 00:20:23,399 Speaker 12: know us better so that they have great platforms that 424 00:20:23,440 --> 00:20:25,679 Speaker 12: they're going to continue to build. I'm still building mines. 425 00:20:25,720 --> 00:20:29,120 Speaker 12: So it kind of uh as to our credibility when 426 00:20:29,119 --> 00:20:32,159 Speaker 12: we storytell around other ESPN entities. 427 00:20:32,200 --> 00:20:34,960 Speaker 11: And so how does it fit in your minds? You know, 428 00:20:35,040 --> 00:20:37,520 Speaker 11: you work across all of these different aspects of ESPN. 429 00:20:37,680 --> 00:20:41,240 Speaker 11: How does it fit into the ESPN ecosystem, which is 430 00:20:41,680 --> 00:20:45,280 Speaker 11: feels like it's changing every day. The media landscape is 431 00:20:45,359 --> 00:20:47,119 Speaker 11: changing every day, Like l how do you see it 432 00:20:47,160 --> 00:20:51,320 Speaker 11: sort of like fitting in or maybe defining where it's going. 433 00:20:51,440 --> 00:20:53,199 Speaker 4: Yeah, it's actually a bit of by nature, a bit 434 00:20:53,200 --> 00:20:55,640 Speaker 4: of a disruptor because it is one of the only 435 00:20:55,720 --> 00:20:58,560 Speaker 4: studio shows that we put on Disney Plus, along with 436 00:20:58,680 --> 00:21:02,200 Speaker 4: sc Plus, which premiered you know, a little bit before 437 00:21:02,280 --> 00:21:05,159 Speaker 4: ours did as well. So I think that gives you 438 00:21:05,200 --> 00:21:07,679 Speaker 4: like an ability to sort of merge the worlds of 439 00:21:07,800 --> 00:21:11,159 Speaker 4: linear TV and digital. You know, Ari is like a 440 00:21:11,200 --> 00:21:14,760 Speaker 4: monster in the digital space. I've done more linear, although 441 00:21:15,160 --> 00:21:19,200 Speaker 4: I've also dabbled in digital, You've done like she's fantastic 442 00:21:19,240 --> 00:21:21,000 Speaker 4: on social media and those things as well, but mostly 443 00:21:21,000 --> 00:21:22,760 Speaker 4: her day job is social media. It's been really cool 444 00:21:22,760 --> 00:21:24,439 Speaker 4: to see the different groups sort of come together and 445 00:21:24,480 --> 00:21:27,160 Speaker 4: con see what this would look like, knowing that it's 446 00:21:27,160 --> 00:21:30,479 Speaker 4: on a streaming platform, but also like understanding that it 447 00:21:30,520 --> 00:21:33,119 Speaker 4: is still TV and we still want to have the 448 00:21:33,160 --> 00:21:36,679 Speaker 4: same goals, which is to educate, to entertain, to be 449 00:21:36,840 --> 00:21:39,879 Speaker 4: fast paced, to get big interviews. 450 00:21:39,280 --> 00:21:40,600 Speaker 9: To talk about what's happening. 451 00:21:40,720 --> 00:21:43,160 Speaker 4: So I would say in the space at ESPN, it's 452 00:21:43,240 --> 00:21:46,760 Speaker 4: looked at incredibly favorably, and also it's become a bit 453 00:21:46,760 --> 00:21:48,560 Speaker 4: of a destination for the women that work there. 454 00:21:48,640 --> 00:21:48,840 Speaker 8: Right. 455 00:21:49,080 --> 00:21:51,520 Speaker 4: The ones that haven't been on the show are hosted 456 00:21:51,600 --> 00:21:53,520 Speaker 4: yet are like when do I get my book, chick, 457 00:21:54,840 --> 00:21:56,520 Speaker 4: and I'm like, bring some stories, Like tell them that 458 00:21:56,560 --> 00:21:57,960 Speaker 4: you are interested in that, you want to bring it 459 00:21:57,960 --> 00:21:58,480 Speaker 4: to the table. 460 00:21:58,680 --> 00:21:58,920 Speaker 2: Yeah. 461 00:21:58,960 --> 00:22:02,320 Speaker 12: Also for the women talent, they sit down and watch 462 00:22:02,320 --> 00:22:04,080 Speaker 12: it with their families. Just Mindoza was telling me she 463 00:22:04,119 --> 00:22:06,080 Speaker 12: watches it with her family and because they can't watch 464 00:22:06,119 --> 00:22:07,879 Speaker 12: it live often, they can just turn it on Disney 465 00:22:07,920 --> 00:22:09,920 Speaker 12: Plus and stream it outa yeah. 466 00:22:09,800 --> 00:22:11,920 Speaker 11: Right, right, all right, So let's talk about the state 467 00:22:11,960 --> 00:22:15,919 Speaker 11: of women's sports if we can. Fascinating moment. You know, 468 00:22:16,000 --> 00:22:18,600 Speaker 11: today we heard a lot of what was going on. 469 00:22:18,920 --> 00:22:21,960 Speaker 11: You know, you guys had Ali Riley on, you know, 470 00:22:22,160 --> 00:22:26,879 Speaker 11: literally days after her retirement from the NWSL with the 471 00:22:27,080 --> 00:22:31,200 Speaker 11: local team Angel City. We had j Smith from the Valkyries. 472 00:22:33,200 --> 00:22:36,480 Speaker 11: It feels exciting but also like a little bit precarious 473 00:22:36,520 --> 00:22:40,720 Speaker 11: given everything that's going on with the w especially I 474 00:22:40,760 --> 00:22:44,960 Speaker 11: mean Toenay, maybe start with you the wright, what should 475 00:22:45,000 --> 00:22:47,440 Speaker 11: we be thinking right now? I mean, we're we're talking 476 00:22:47,480 --> 00:22:50,479 Speaker 11: a week before the CBA is up. 477 00:22:51,119 --> 00:22:51,520 Speaker 3: Wow. 478 00:22:51,720 --> 00:22:55,239 Speaker 10: Yes, you know, I have plenty of experience with the 479 00:22:55,320 --> 00:22:58,159 Speaker 10: WNBA with change, considering that I'm you know, I was 480 00:22:58,200 --> 00:23:01,159 Speaker 10: member of the WBPA. My older sister is currently the 481 00:23:01,160 --> 00:23:05,440 Speaker 10: president of the Players Association. But with great change comes 482 00:23:05,480 --> 00:23:09,919 Speaker 10: great responsibility, but also it comes with disruption. You use 483 00:23:10,000 --> 00:23:13,199 Speaker 10: the perfect word l I look at Angel City and 484 00:23:13,240 --> 00:23:16,280 Speaker 10: that was the blueprint for its time and considerably for 485 00:23:16,359 --> 00:23:18,680 Speaker 10: the future with what is possible. 486 00:23:19,280 --> 00:23:20,320 Speaker 8: I played in the WNBA. 487 00:23:20,359 --> 00:23:22,119 Speaker 10: When I went to my first Angel City game, I 488 00:23:22,160 --> 00:23:24,800 Speaker 10: was still playing and I was like, whoa. I'm literally 489 00:23:24,800 --> 00:23:27,560 Speaker 10: across the street and I'm like, what they have going 490 00:23:27,640 --> 00:23:31,720 Speaker 10: with the business infrastructure, the support, the influencers, the investors. 491 00:23:32,440 --> 00:23:34,359 Speaker 10: I brought some of my family to that game and 492 00:23:34,400 --> 00:23:36,399 Speaker 10: they're like, I didn't know this was possible in women's sports. 493 00:23:36,640 --> 00:23:39,520 Speaker 10: Then you take that blueprint literally shout out to Jessmuth 494 00:23:39,880 --> 00:23:42,480 Speaker 10: and take it over to the Golden State Valkyries and 495 00:23:42,520 --> 00:23:45,160 Speaker 10: build something that shocks a lot of people in its valuation. 496 00:23:45,680 --> 00:23:48,080 Speaker 10: So one, the players have always been the best in 497 00:23:48,119 --> 00:23:51,320 Speaker 10: its kind right, always going to put out the best product, 498 00:23:51,720 --> 00:23:54,919 Speaker 10: but now seeing the investment that's been the biggest disruptor 499 00:23:54,960 --> 00:23:56,919 Speaker 10: in the best way, because people are starting to see 500 00:23:57,080 --> 00:23:59,600 Speaker 10: that you can get in on something right now that 501 00:23:59,720 --> 00:24:02,800 Speaker 10: is huge for years to come. It's a generational asset 502 00:24:03,080 --> 00:24:06,800 Speaker 10: and I do believe that's transforming. Above all sports, the 503 00:24:06,840 --> 00:24:10,040 Speaker 10: future of the industry. NFL is at its peak, NBA 504 00:24:10,119 --> 00:24:12,439 Speaker 10: is at its peak, you know, NHL at its peak. 505 00:24:13,000 --> 00:24:16,720 Speaker 10: Women's sports is rising, and we're seeing that generational change 506 00:24:16,760 --> 00:24:21,440 Speaker 10: through disruption, positive disruption, good leadership. I'm excited and it's 507 00:24:21,480 --> 00:24:23,359 Speaker 10: wild because the headline's wild. 508 00:24:23,560 --> 00:24:23,879 Speaker 2: Yeah. 509 00:24:24,040 --> 00:24:26,800 Speaker 10: Women are owning their own narratives and statements. I often 510 00:24:26,840 --> 00:24:30,880 Speaker 10: say that like women's athletes, they tend to have multiple degrees. 511 00:24:31,400 --> 00:24:33,360 Speaker 10: They know what they're doing. They understand that their power 512 00:24:33,440 --> 00:24:36,480 Speaker 10: is in the collective. It's unlike anything we've ever witnessed before. 513 00:24:36,560 --> 00:24:39,600 Speaker 10: We're glad to be storytellers of it. But I do 514 00:24:39,680 --> 00:24:41,400 Speaker 10: think that we will continue. And I say week because 515 00:24:41,440 --> 00:24:43,320 Speaker 10: I can never say like I'm on the other side. 516 00:24:43,960 --> 00:24:46,120 Speaker 9: You know, Germany, you are not right to say, wee girl. 517 00:24:46,359 --> 00:24:47,679 Speaker 8: Some people just don't know how it is. 518 00:24:47,880 --> 00:24:51,520 Speaker 10: But I am excited for the future because the business 519 00:24:51,560 --> 00:24:55,479 Speaker 10: is booming, the players are becoming worldwide stars, and the 520 00:24:55,520 --> 00:24:57,960 Speaker 10: sky is truly the limit and we'll see where it goes. 521 00:24:58,240 --> 00:24:59,960 Speaker 11: You how worried are you about this? 522 00:25:00,080 --> 00:25:01,240 Speaker 8: I know you're gonna come back to me on. 523 00:25:01,280 --> 00:25:07,760 Speaker 10: Ed I'll say this. Every day things change, But one 524 00:25:07,800 --> 00:25:10,160 Speaker 10: thing I do know for sure is that everyone wants 525 00:25:10,160 --> 00:25:12,359 Speaker 10: to keep the product on the floor. We just and 526 00:25:12,400 --> 00:25:15,520 Speaker 10: I say we again, languages have to be spoken that 527 00:25:15,560 --> 00:25:18,399 Speaker 10: are the same. I think that there was a huge 528 00:25:18,400 --> 00:25:21,440 Speaker 10: moment obviously with the FISA Collier putting out her statements. 529 00:25:22,640 --> 00:25:26,520 Speaker 10: While that was quite a bit to process, particularly from 530 00:25:26,520 --> 00:25:30,320 Speaker 10: the league standpoint, it did create an opportunity to reset 531 00:25:30,880 --> 00:25:34,199 Speaker 10: and right now it's crunch time and hopefully all parties, 532 00:25:34,240 --> 00:25:37,639 Speaker 10: which I believe they are, are working towards reconciliation and 533 00:25:37,720 --> 00:25:43,200 Speaker 10: moving forward because this is the momentum that women's sports 534 00:25:43,240 --> 00:25:45,760 Speaker 10: has been dreaming of. And it's not just basketball. This 535 00:25:45,800 --> 00:25:50,560 Speaker 10: is a moment that will define women's sports. By the CBA, 536 00:25:51,480 --> 00:25:56,960 Speaker 10: bigger paid maternity leave, opportunities for veterans when they're done playing. 537 00:25:57,280 --> 00:26:00,360 Speaker 10: There's so many intricacies that touched the workplace. We're all 538 00:26:00,400 --> 00:26:03,640 Speaker 10: not just sports. So the time is now every day 539 00:26:03,720 --> 00:26:05,800 Speaker 10: it's like a coin flip. But I do think they 540 00:26:05,800 --> 00:26:07,159 Speaker 10: have the same goal now it's time for them to 541 00:26:07,160 --> 00:26:08,080 Speaker 10: speak the same language. 542 00:26:08,400 --> 00:26:09,200 Speaker 8: All right, what do you think? 543 00:26:09,240 --> 00:26:11,320 Speaker 11: I mean, you understand sort of the landscape of women's 544 00:26:11,320 --> 00:26:12,840 Speaker 11: sports as well as anyone, and she. 545 00:26:12,840 --> 00:26:13,840 Speaker 8: Can be way more real than me. 546 00:26:15,359 --> 00:26:15,920 Speaker 2: What do you think? 547 00:26:16,560 --> 00:26:20,359 Speaker 12: How as far as revenue, I remember having conversations with 548 00:26:20,400 --> 00:26:22,360 Speaker 12: people in twenty eighteen saying the cost of an action 549 00:26:22,480 --> 00:26:24,399 Speaker 12: is greater than the risk, right, and you see the 550 00:26:24,440 --> 00:26:27,439 Speaker 12: return on investment, and people like Mark Davis who bought 551 00:26:27,680 --> 00:26:30,200 Speaker 12: what the basis for two million twenty twenty one, it 552 00:26:30,320 --> 00:26:33,159 Speaker 12: was like that for two million dollars two hundred plus million. 553 00:26:33,760 --> 00:26:37,440 Speaker 8: It's it's a ridiculously great investment to have. Now. 554 00:26:37,440 --> 00:26:39,959 Speaker 12: As far as the CBA, I am not as close 555 00:26:40,400 --> 00:26:43,239 Speaker 12: as Cheney is in it. I will say historically they 556 00:26:43,240 --> 00:26:45,840 Speaker 12: have not met the deadline, but they have come into 557 00:26:45,840 --> 00:26:49,320 Speaker 12: a consensus before the season starts, knowing what they're up 558 00:26:49,359 --> 00:26:53,399 Speaker 12: against between expansion, draft, free agency, and the trajectory that 559 00:26:53,440 --> 00:26:56,200 Speaker 12: women's sports is right now, they want a common goal 560 00:26:56,240 --> 00:26:57,359 Speaker 12: to keep the product on the floor. 561 00:26:57,560 --> 00:26:58,720 Speaker 8: To reiterate what the. 562 00:26:58,800 --> 00:27:01,879 Speaker 10: Vibes from the players. No one's closer to more players 563 00:27:01,920 --> 00:27:06,880 Speaker 10: than you. The players. I'll quote Mekka. Neka told me 564 00:27:07,240 --> 00:27:08,400 Speaker 10: that for the first time. 565 00:27:08,520 --> 00:27:11,480 Speaker 12: They have a real strong foundation that they're unwilling to 566 00:27:11,600 --> 00:27:17,920 Speaker 12: waiver in their foundational requests. Right, But the players who 567 00:27:18,119 --> 00:27:19,160 Speaker 12: can't be as. 568 00:27:21,320 --> 00:27:22,600 Speaker 8: Not as a president for a reason. Right. 569 00:27:22,600 --> 00:27:24,600 Speaker 12: So the players are feeling like, Okay, no, we're worth this, 570 00:27:24,640 --> 00:27:27,119 Speaker 12: We're gonna we're not gonna stop until we get the demands, 571 00:27:27,359 --> 00:27:28,520 Speaker 12: Like we're gonna demand this. 572 00:27:28,600 --> 00:27:31,080 Speaker 8: But the collective bargaining agreement is a bargain. 573 00:27:31,240 --> 00:27:34,280 Speaker 12: It's going to have to have a little give and take. 574 00:27:34,760 --> 00:27:36,080 Speaker 8: But the value is there. 575 00:27:36,640 --> 00:27:39,240 Speaker 12: Numbers talk, The numbers are talking, and the players are 576 00:27:39,320 --> 00:27:41,480 Speaker 12: able to be louder in a way that they haven't 577 00:27:41,520 --> 00:27:45,000 Speaker 12: before swim Cash when she renegotiated in twenty sixteen. So 578 00:27:45,160 --> 00:27:47,000 Speaker 12: we had to know when to walk away from things. 579 00:27:47,000 --> 00:27:48,840 Speaker 12: We had to know what to ask for so that 580 00:27:48,880 --> 00:27:50,560 Speaker 12: the league can sustain. And I think that there's an 581 00:27:50,560 --> 00:27:53,600 Speaker 12: apprehension on the league's side with sustainability if you fulfill 582 00:27:53,640 --> 00:27:55,960 Speaker 12: all the requests right now, with the trajectory and the 583 00:27:55,960 --> 00:28:00,800 Speaker 12: way it's growing. But the reality is how long do 584 00:28:00,800 --> 00:28:06,240 Speaker 12: you lean on skepticism before you completely make your product 585 00:28:06,240 --> 00:28:09,879 Speaker 12: that's so great feel less than what they deserve. 586 00:28:10,240 --> 00:28:13,080 Speaker 4: Yeah, to echo what they're saying, I did talk to 587 00:28:13,160 --> 00:28:15,359 Speaker 4: Sue Bird recently on her podcast, and I thought one 588 00:28:15,400 --> 00:28:17,080 Speaker 4: of the things that she said that stood out to 589 00:28:17,080 --> 00:28:19,919 Speaker 4: her about this negotiation, and she couldn't get much into it, 590 00:28:19,960 --> 00:28:22,920 Speaker 4: she is part owner, right, but she was just really 591 00:28:22,960 --> 00:28:25,600 Speaker 4: inspired by the interest from the players. 592 00:28:25,840 --> 00:28:28,840 Speaker 9: She's like, I remember past CBA's then when you hear. 593 00:28:30,320 --> 00:28:32,919 Speaker 4: She was like, they wouldn't answer the phone, they wouldn't 594 00:28:32,920 --> 00:28:35,040 Speaker 4: show up to meetings, they didn't She's like, I don't 595 00:28:35,080 --> 00:28:36,719 Speaker 4: even know if I knew who my team rep was 596 00:28:36,760 --> 00:28:38,680 Speaker 4: for the first part of my career. She was like, 597 00:28:38,800 --> 00:28:42,480 Speaker 4: just because there was just almost this hopelessness of. 598 00:28:42,480 --> 00:28:43,600 Speaker 9: Like, well, they're not going to give us anything. 599 00:28:43,760 --> 00:28:46,920 Speaker 4: We're at the mercy of yes, we can't be audacious 600 00:28:47,000 --> 00:28:48,680 Speaker 4: enough to ask for anything, so what's the freaking point? 601 00:28:48,960 --> 00:28:51,680 Speaker 4: And so for her to see the engagement from the 602 00:28:51,680 --> 00:28:54,120 Speaker 4: players and to see the confidence that stand up there 603 00:28:54,120 --> 00:28:56,160 Speaker 4: and say like, this is what we deserve. These are 604 00:28:56,160 --> 00:28:58,440 Speaker 4: the non negotiables, this is what we want to see, 605 00:28:58,440 --> 00:29:00,920 Speaker 4: the bold like you know, movement of the T shirts 606 00:29:00,920 --> 00:29:03,680 Speaker 4: and the speaking of she's she said that, and I 607 00:29:03,680 --> 00:29:07,440 Speaker 4: think that's probably what's been the biggest difference today. It 608 00:29:07,480 --> 00:29:10,280 Speaker 4: is the engagement from the players who are standing in 609 00:29:10,320 --> 00:29:13,640 Speaker 4: purpose and saying like, we know what our value is 610 00:29:14,120 --> 00:29:16,240 Speaker 4: and we are going to speak for what's right. 611 00:29:16,360 --> 00:29:17,720 Speaker 9: Because to her point. 612 00:29:17,920 --> 00:29:21,360 Speaker 4: This has the potential to really be a defining seminal 613 00:29:21,360 --> 00:29:22,640 Speaker 4: moment in women's sports. 614 00:29:22,400 --> 00:29:27,240 Speaker 12: And there's a players are now having ownership positions, whether 615 00:29:27,280 --> 00:29:30,840 Speaker 12: that's within you know, being a retired player, having a 616 00:29:30,880 --> 00:29:33,040 Speaker 12: team of their own, or creating their own leagues or 617 00:29:33,040 --> 00:29:34,040 Speaker 12: owning their own businesses. 618 00:29:34,120 --> 00:29:35,680 Speaker 8: Like Jane said, they have multiple degrees. 619 00:29:37,520 --> 00:29:40,400 Speaker 12: They're challenging because the league is the mouthpiece for the owners, 620 00:29:40,400 --> 00:29:44,200 Speaker 12: So they're challenging the conventional thought of we cannot accommodate 621 00:29:44,240 --> 00:29:46,040 Speaker 12: this because this is not how the business model is 622 00:29:46,040 --> 00:29:48,560 Speaker 12: when you have the running businesses now. So it's just 623 00:29:48,600 --> 00:29:52,560 Speaker 12: the stronger business sense and grasp for what the reality 624 00:29:52,800 --> 00:29:53,800 Speaker 12: of the landscape is. 625 00:29:53,720 --> 00:29:56,760 Speaker 8: Reflected when they're they're coming to an agreement. 626 00:29:56,840 --> 00:30:02,760 Speaker 11: Yeah, it's such an interesting point because in sports writ large, 627 00:30:02,800 --> 00:30:07,040 Speaker 11: not just women's sports, you now have athletes with economic 628 00:30:07,120 --> 00:30:11,120 Speaker 11: interests and economics power that. 629 00:30:11,360 --> 00:30:12,600 Speaker 9: Literally they've never had before. 630 00:30:12,600 --> 00:30:16,000 Speaker 11: You know, whether you know today, Chris Paul, Maria Sharapova, 631 00:30:16,400 --> 00:30:18,480 Speaker 11: you know the three of you, you know, I mean, 632 00:30:19,000 --> 00:30:23,520 Speaker 11: it's an entirely different landscape when it comes to athletes 633 00:30:23,800 --> 00:30:24,920 Speaker 11: and the business of sports. 634 00:30:25,080 --> 00:30:29,000 Speaker 10: You have players that are multimillion dollar brands that understand 635 00:30:29,000 --> 00:30:31,680 Speaker 10: their worth. You have players that are launching their own 636 00:30:31,760 --> 00:30:34,800 Speaker 10: leagues and finding creative ways to be sustainable, but also 637 00:30:35,520 --> 00:30:38,960 Speaker 10: go beyond that create new partnerships. And then you have 638 00:30:39,000 --> 00:30:42,000 Speaker 10: players that still do the traditional mode of going and 639 00:30:42,000 --> 00:30:42,880 Speaker 10: playing overseas. 640 00:30:43,360 --> 00:30:45,400 Speaker 8: The options are much different. 641 00:30:45,320 --> 00:30:47,920 Speaker 10: Than where they were in the past, and I do 642 00:30:47,960 --> 00:30:50,680 Speaker 10: think that this is a good sign. You know, when 643 00:30:50,720 --> 00:30:55,160 Speaker 10: players can feel like they stand with a individual or 644 00:30:55,240 --> 00:31:00,440 Speaker 10: collective value, that's a good sign for business. But what 645 00:31:00,480 --> 00:31:02,479 Speaker 10: they want is to be able to share in the 646 00:31:02,560 --> 00:31:05,320 Speaker 10: growth of that. Not saying that it has to be 647 00:31:05,440 --> 00:31:08,000 Speaker 10: equal to what we compared to in other sports leagues, 648 00:31:08,320 --> 00:31:10,880 Speaker 10: but something that is proportional for what they reflect and 649 00:31:10,880 --> 00:31:11,280 Speaker 10: where the. 650 00:31:11,240 --> 00:31:14,880 Speaker 8: Business is today. And these players they That's what I 651 00:31:14,920 --> 00:31:17,000 Speaker 8: loved about what Ali said. They talked to each other. 652 00:31:17,480 --> 00:31:20,480 Speaker 10: I'll never forget the last CBA Sue was on, so 653 00:31:20,520 --> 00:31:22,240 Speaker 10: you know who else was listening in the background. 654 00:31:22,280 --> 00:31:23,360 Speaker 8: I don't know if that was fair. I don't know 655 00:31:23,400 --> 00:31:27,680 Speaker 8: if I was repeto. 656 00:31:28,360 --> 00:31:33,440 Speaker 10: And they just accomplished going to Capitol Hill and fighting. 657 00:31:33,440 --> 00:31:35,360 Speaker 8: The leg was crazy. 658 00:31:35,720 --> 00:31:39,760 Speaker 10: Remember, then they take that institutional knowledge and say, hey, Wnba, 659 00:31:40,000 --> 00:31:42,360 Speaker 10: what do you need to know? And they're like, oh, 660 00:31:42,480 --> 00:31:44,040 Speaker 10: this is how we're going to help our lee grow. 661 00:31:44,280 --> 00:31:46,200 Speaker 10: We're gonna take this and build our own leagues. 662 00:31:46,800 --> 00:31:49,160 Speaker 8: You know. So their problem solving on the fly. 663 00:31:50,120 --> 00:31:51,840 Speaker 10: But you don't want the problem to be with an 664 00:31:51,880 --> 00:31:55,800 Speaker 10: institution that you love and adore, you dreamt of since 665 00:31:55,800 --> 00:31:56,360 Speaker 10: you're a kid. 666 00:31:56,760 --> 00:31:58,640 Speaker 8: You want to be partners in that. 667 00:31:59,080 --> 00:32:02,960 Speaker 12: And then lastly, the valuation of teams and what the 668 00:32:03,000 --> 00:32:05,600 Speaker 12: owners are willing to pay. Now that there's a higher 669 00:32:05,640 --> 00:32:08,320 Speaker 12: demand for when you bring in a team, you have 670 00:32:08,360 --> 00:32:11,280 Speaker 12: to meet a certain standard of economic stability. 671 00:32:11,680 --> 00:32:13,240 Speaker 8: That makes a difference too, because. 672 00:32:13,040 --> 00:32:18,880 Speaker 12: There's a inequity of ownership willingness to compensate the players. 673 00:32:18,920 --> 00:32:22,840 Speaker 12: And I think that if all ownership groups were able 674 00:32:22,880 --> 00:32:24,880 Speaker 12: to come to a consensus of what it looks like 675 00:32:24,920 --> 00:32:28,080 Speaker 12: to be a successful team and what the ownership groups 676 00:32:28,120 --> 00:32:31,880 Speaker 12: are willing to put in the into the players, it 677 00:32:31,920 --> 00:32:34,200 Speaker 12: wouldn't be so back and forth. Again, I think the 678 00:32:34,280 --> 00:32:38,360 Speaker 12: league is the mouthpiece for the owners to help bridge 679 00:32:38,400 --> 00:32:41,200 Speaker 12: the gap between the seven wealthiest versus the rest. 680 00:32:41,400 --> 00:32:43,280 Speaker 9: My sources tell me that's not a problem. 681 00:32:43,480 --> 00:32:47,479 Speaker 4: My sources that have negotiated the last few expansion teams 682 00:32:47,800 --> 00:32:51,240 Speaker 4: have told me that in terms of that valuation, that 683 00:32:51,360 --> 00:32:54,760 Speaker 4: they they had three teams that were willing to pay 684 00:32:54,800 --> 00:32:57,560 Speaker 4: that two hundred and fifty million dollar expansion fee. 685 00:32:57,320 --> 00:32:58,880 Speaker 9: And that if they wanted to, they could have had. 686 00:32:58,760 --> 00:33:02,240 Speaker 8: Twelve yeact the new ones exist. 687 00:33:03,240 --> 00:33:05,240 Speaker 9: Yes, absolutely, Yeah, and I think they're going to have 688 00:33:05,240 --> 00:33:05,600 Speaker 9: to force you. 689 00:33:05,600 --> 00:33:06,200 Speaker 8: They're going to have to. 690 00:33:07,120 --> 00:33:08,000 Speaker 9: We're going to have to. 691 00:33:08,200 --> 00:33:09,560 Speaker 8: And that is the ownerships. 692 00:33:09,600 --> 00:33:11,440 Speaker 11: And we've seen this in soccer and now we're seeing 693 00:33:11,480 --> 00:33:14,080 Speaker 11: it in basketball just as much that you know this 694 00:33:14,200 --> 00:33:17,280 Speaker 11: is this is the evolution of a league, right in 695 00:33:17,320 --> 00:33:20,600 Speaker 11: the sense that like it's no longer you know, you 696 00:33:20,640 --> 00:33:22,560 Speaker 11: guys have heard this as much as I have. It's 697 00:33:22,560 --> 00:33:25,480 Speaker 11: no longer at charity, not doing it out of your foundation. 698 00:33:25,800 --> 00:33:26,400 Speaker 8: Is the business. 699 00:33:26,560 --> 00:33:29,600 Speaker 11: Yeah, When will Obey and Bob Eiger bought Angel City 700 00:33:29,960 --> 00:33:32,600 Speaker 11: at a two hundred and fifty million dollars valuation, that 701 00:33:32,720 --> 00:33:34,120 Speaker 11: was the business franchise. 702 00:33:34,200 --> 00:33:36,040 Speaker 10: So now sitting in twenty twenty five, about to be 703 00:33:36,080 --> 00:33:36,880 Speaker 10: twenty twenty six. 704 00:33:36,800 --> 00:33:37,880 Speaker 8: That looks like a steel Yeah. 705 00:33:38,040 --> 00:33:40,480 Speaker 4: Absolutely where that's suing, right, But you know, I do 706 00:33:40,600 --> 00:33:42,800 Speaker 4: also think like are to your point there is always 707 00:33:42,800 --> 00:33:45,960 Speaker 4: going to be cheap owners, like it's a class just 708 00:33:46,040 --> 00:33:48,160 Speaker 4: is Yeah, there are I mean how many times do 709 00:33:48,240 --> 00:33:51,480 Speaker 4: we see the NFLPA warn their players don't. 710 00:33:51,240 --> 00:33:53,760 Speaker 9: Go play for them, Like like this is just a 711 00:33:53,800 --> 00:33:54,400 Speaker 9: reality of it. 712 00:33:54,440 --> 00:33:56,840 Speaker 4: You're going to have huge investment from some owners, and 713 00:33:56,840 --> 00:33:58,680 Speaker 4: you're going to have some owners who are cheap and 714 00:33:58,760 --> 00:34:03,040 Speaker 4: like the But to her point, it's the few and 715 00:34:03,080 --> 00:34:05,400 Speaker 4: far between those cheap ones that don't want to spend 716 00:34:05,400 --> 00:34:07,600 Speaker 4: any money, don't want to upgrade facilities, don't want to 717 00:34:07,640 --> 00:34:09,920 Speaker 4: do any of those things that need to be you know, 718 00:34:09,960 --> 00:34:12,319 Speaker 4: continued to weed out by making sure that there is 719 00:34:12,360 --> 00:34:14,400 Speaker 4: a huge investment in these people. And I think my 720 00:34:14,520 --> 00:34:16,840 Speaker 4: sources are telling me that one of the biggest like 721 00:34:16,960 --> 00:34:19,200 Speaker 4: sort of tipping points and selling points to these perspective 722 00:34:19,200 --> 00:34:23,279 Speaker 4: new owners is like, just like any other business, as 723 00:34:23,280 --> 00:34:25,719 Speaker 4: an entrepreneur that you have started, you are going to 724 00:34:25,760 --> 00:34:26,600 Speaker 4: lose money up front. 725 00:34:26,840 --> 00:34:28,000 Speaker 9: You need to be okay with that. 726 00:34:28,520 --> 00:34:30,880 Speaker 4: You're going to lose money, but if you keep investing, 727 00:34:30,960 --> 00:34:32,799 Speaker 4: it will come back to you tenfold. And I think 728 00:34:32,840 --> 00:34:35,280 Speaker 4: to your point, like Mark Davis is a huge symbol 729 00:34:35,320 --> 00:34:37,600 Speaker 4: for that you buy. He lost money until he didn't 730 00:34:37,719 --> 00:34:40,200 Speaker 4: and now he's got the most important franchise in the 731 00:34:40,320 --> 00:34:41,200 Speaker 4: W So I think. 732 00:34:44,640 --> 00:34:46,960 Speaker 9: It's either the most important franchise. 733 00:34:49,360 --> 00:34:51,799 Speaker 11: All right, So to wrap it up, it feels like 734 00:34:52,040 --> 00:34:53,400 Speaker 11: it just based on this discussion. 735 00:34:53,520 --> 00:34:54,840 Speaker 9: Vibes are good? 736 00:34:57,680 --> 00:35:01,360 Speaker 11: Yeah, and so what's next for a vibe check? Like, 737 00:35:01,640 --> 00:35:03,760 Speaker 11: how do you guys think about you know, the next 738 00:35:04,160 --> 00:35:07,319 Speaker 11: year or two, you know, looking out? Does the show grow, 739 00:35:07,640 --> 00:35:10,880 Speaker 11: does it spin off? Like what's what is the grand 740 00:35:10,920 --> 00:35:11,840 Speaker 11: vibe check plan? 741 00:35:12,000 --> 00:35:12,160 Speaker 8: Oh? 742 00:35:12,520 --> 00:35:18,560 Speaker 9: Oh, man gave the middle seat. 743 00:35:19,520 --> 00:35:21,799 Speaker 4: Yeah, I mean I think you know, the goal is 744 00:35:21,840 --> 00:35:24,319 Speaker 4: always to at least from this side, And like that 745 00:35:24,400 --> 00:35:28,319 Speaker 4: question may be better answered by a marketing executive or 746 00:35:28,400 --> 00:35:29,560 Speaker 4: you know, one of our executives. 747 00:35:29,560 --> 00:35:30,319 Speaker 5: What do you want it to be? 748 00:35:30,800 --> 00:35:31,080 Speaker 8: For me? 749 00:35:31,880 --> 00:35:35,880 Speaker 4: I care purely about making sure we do the absolute 750 00:35:35,920 --> 00:35:38,560 Speaker 4: best version of the thing that we have before we 751 00:35:38,600 --> 00:35:41,720 Speaker 4: talk about expanding and spinning, and I am completely driven 752 00:35:41,760 --> 00:35:45,000 Speaker 4: by content and I am also a bit of a 753 00:35:45,040 --> 00:35:48,799 Speaker 4: perfectionist in that, like until I feel like we have 754 00:35:49,160 --> 00:35:51,759 Speaker 4: executed and nailed this thing and we're still figuring it out. 755 00:35:51,840 --> 00:35:54,759 Speaker 4: I mean, vive Check premiered in May, like it's just 756 00:35:54,800 --> 00:35:55,960 Speaker 4: been around for a few months. 757 00:35:56,760 --> 00:35:58,440 Speaker 9: We are still getting our sea legs under us. 758 00:35:58,480 --> 00:36:01,040 Speaker 4: We're still figuring out combination because again we do have 759 00:36:01,120 --> 00:36:03,960 Speaker 4: so many We're still figuring out audience metrics. 760 00:36:04,000 --> 00:36:06,720 Speaker 9: I mean, you know, something can be sold and that's amazing, 761 00:36:06,760 --> 00:36:08,840 Speaker 9: like we want it to be sold, but it takes. 762 00:36:08,560 --> 00:36:11,080 Speaker 4: Some time to get research to figure out what people 763 00:36:11,080 --> 00:36:14,759 Speaker 4: are resonating with, like what topics they're interested in, And 764 00:36:14,800 --> 00:36:17,160 Speaker 4: so for me, I'm far less interested in like what's 765 00:36:17,239 --> 00:36:20,120 Speaker 4: next for vibe check in terms of scale, and much 766 00:36:20,160 --> 00:36:22,680 Speaker 4: more in like how we each own our little space 767 00:36:22,719 --> 00:36:24,600 Speaker 4: of vibe check and continue to try to make it 768 00:36:24,840 --> 00:36:28,160 Speaker 4: authentic and real and a place that's a destination for 769 00:36:28,280 --> 00:36:31,520 Speaker 4: families to come and learning over the last few months, 770 00:36:31,640 --> 00:36:33,640 Speaker 4: what our demos are, what our audience looks like. 771 00:36:34,000 --> 00:36:36,440 Speaker 9: That to me is information that we'll use moving forward. 772 00:36:37,520 --> 00:36:43,279 Speaker 8: Can you add to that? Well, I appreciate all three 773 00:36:43,320 --> 00:36:43,480 Speaker 8: of you. 774 00:36:44,160 --> 00:36:46,680 Speaker 11: Sometimes it's really fun to chop it up. 775 00:36:46,960 --> 00:36:49,279 Speaker 8: Vibes are great. I feel like we should have done 776 00:36:49,280 --> 00:36:49,680 Speaker 8: a check. 777 00:36:49,840 --> 00:36:54,480 Speaker 9: We should I know, Okay, I got one. Okay, Georgia 778 00:36:54,600 --> 00:36:56,480 Speaker 9: or Georgia Tech, Georgia Tech. 779 00:36:58,320 --> 00:37:02,600 Speaker 11: Sorry you went to Georgia though I didn't go to Georgia. 780 00:37:02,920 --> 00:37:04,040 Speaker 9: You're just a Georgia fan. 781 00:37:04,480 --> 00:37:06,759 Speaker 11: I'm a fan of like I have a lot of 782 00:37:06,760 --> 00:37:09,520 Speaker 11: family from Georgia Tech, which is probably where I tend 783 00:37:09,560 --> 00:37:10,960 Speaker 11: and then I have a lot of family from Georgia. 784 00:37:11,239 --> 00:37:11,719 Speaker 8: You're just. 785 00:37:13,440 --> 00:37:16,440 Speaker 9: Georgia Tech, Georgia State or Georgias. 786 00:37:16,760 --> 00:37:19,080 Speaker 11: Yeah, Georgia Southern. 787 00:37:19,960 --> 00:37:23,080 Speaker 7: That's l Duncan, Cheneo Gumakay and Ari Chambers speaking with 788 00:37:23,080 --> 00:37:25,680 Speaker 7: our own Jason Kelly in La at the USC Next 789 00:37:25,719 --> 00:37:26,720 Speaker 7: Level Sports Conference. 790 00:37:26,920 --> 00:37:29,520 Speaker 2: El Today and Ari have a new show from ESPN 791 00:37:29,640 --> 00:37:32,840 Speaker 2: called Vibe Check. You can catch that on Disney Plus. 792 00:37:32,960 --> 00:37:34,719 Speaker 3: And if you want to hear more of their conversation 793 00:37:34,800 --> 00:37:37,200 Speaker 3: with Jason, we've got it ready for you on demand 794 00:37:37,360 --> 00:37:40,800 Speaker 3: on our podcast Speed Subscribe now on Apple, Spotify, or 795 00:37:40,840 --> 00:37:43,040 Speaker 3: wherever you get your podcasts up. 796 00:37:43,080 --> 00:37:45,120 Speaker 7: Next, we turn to college sports and a survey of 797 00:37:45,160 --> 00:37:47,279 Speaker 7: some of its top leaders across the country. 798 00:37:47,080 --> 00:37:50,160 Speaker 2: For Damian sas Hour and Vanessa Pernomo. I'm Michael Barr. 799 00:37:50,440 --> 00:37:54,080 Speaker 2: You are listening to the Bloomberg Business of Sports Bloomberg 800 00:37:54,280 --> 00:37:55,760 Speaker 2: Radio around the Burg. 801 00:38:00,600 --> 00:38:04,560 Speaker 1: This is Bloomberg Business of Sports from Bloomberg Radio. 802 00:38:05,840 --> 00:38:08,120 Speaker 2: Thanks for joining us On the Bloomberg Business of Sports. 803 00:38:08,200 --> 00:38:10,200 Speaker 2: We explored the big money issues in the world sports. 804 00:38:10,280 --> 00:38:13,000 Speaker 3: I'm Michael Waugher, No I'm Damian Tannashamer and I'm ven Esperremo. 805 00:38:13,200 --> 00:38:16,600 Speaker 3: The Night Commission on Intercollegiate Athletics is an independent group 806 00:38:16,600 --> 00:38:19,080 Speaker 3: of thought leaders that have played an active role in 807 00:38:19,160 --> 00:38:20,320 Speaker 3: shaping collegiate sports. 808 00:38:20,480 --> 00:38:23,000 Speaker 7: Recently, the Commission did a survey of Division one leaders 809 00:38:23,080 --> 00:38:25,760 Speaker 7: nationwide to take their temperature and all the big changes 810 00:38:25,760 --> 00:38:27,680 Speaker 7: in college sports over the last few years. 811 00:38:27,800 --> 00:38:30,920 Speaker 2: Hull around a set gang joining us now to discuss 812 00:38:30,960 --> 00:38:34,640 Speaker 2: some key takeaways from the survey and more. Is Night 813 00:38:34,640 --> 00:38:39,680 Speaker 2: Commission and Intercollegiate Athletics CEO Amy Prevet Perkout and a 814 00:38:40,000 --> 00:38:46,680 Speaker 2: major story that broke involving an NBA probe into illegal 815 00:38:46,760 --> 00:38:51,600 Speaker 2: gambling and poker games that were rigged, rigg prop bets. 816 00:38:52,280 --> 00:38:56,799 Speaker 2: NBA Commissioner Adam Silver has a very big headache to 817 00:38:56,880 --> 00:38:57,720 Speaker 2: deal with. Amy. 818 00:38:58,200 --> 00:39:02,520 Speaker 6: Well, you know, sports gambling certainly is an issue that's 819 00:39:02,560 --> 00:39:07,239 Speaker 6: impacting the entire ecosystem of sports in America. So it's 820 00:39:07,280 --> 00:39:10,279 Speaker 6: certainly terrible when we hear about scandals, and I think, 821 00:39:11,360 --> 00:39:15,479 Speaker 6: you know, our country, as sports gambling has become you know, 822 00:39:15,640 --> 00:39:18,880 Speaker 6: more more widespread, we're going to have a lot of 823 00:39:18,920 --> 00:39:20,880 Speaker 6: issues that we're going to have to wrestle with and 824 00:39:21,480 --> 00:39:26,400 Speaker 6: even in college sports. Just last month, thirteen Division one 825 00:39:26,520 --> 00:39:31,640 Speaker 6: players were ruled ineligible due to issues related to gambling. 826 00:39:32,520 --> 00:39:35,000 Speaker 6: But then at the same time, the NCAA just changed 827 00:39:36,040 --> 00:39:40,839 Speaker 6: really historic rules that prohibited college athletes from gambling on 828 00:39:40,920 --> 00:39:44,799 Speaker 6: professional sports, and so that's been lifted. So, you know, 829 00:39:45,239 --> 00:39:47,520 Speaker 6: there's a lot of bumpy roads ahead. I think it 830 00:39:47,560 --> 00:39:50,760 Speaker 6: relates to sports gambling and how it's going to impact 831 00:39:50,800 --> 00:39:52,160 Speaker 6: the integrity of games. 832 00:39:52,400 --> 00:39:54,600 Speaker 7: It's a bumpy road ahead everything that's going on with 833 00:39:54,640 --> 00:39:57,080 Speaker 7: sports gambling. And we'll take a deeper look at that 834 00:39:57,600 --> 00:40:00,600 Speaker 7: later on, but right now we're to talk to you 835 00:40:00,600 --> 00:40:04,200 Speaker 7: about how college athletics is working and the bumpy road 836 00:40:04,200 --> 00:40:07,439 Speaker 7: ahead for them, because quite frankly, there's a lot going 837 00:40:07,440 --> 00:40:09,919 Speaker 7: on in college athletics as well. The Night Commission had 838 00:40:09,960 --> 00:40:13,719 Speaker 7: a survey went out, you know, serving athletic directors and 839 00:40:14,320 --> 00:40:17,480 Speaker 7: team presidents and you know athletic presidents. Can you tell 840 00:40:17,520 --> 00:40:19,880 Speaker 7: us more about the Commission and what you're looking to 841 00:40:19,920 --> 00:40:20,360 Speaker 7: find in that. 842 00:40:20,600 --> 00:40:23,680 Speaker 6: The Night Commission is an independent, really think tank that 843 00:40:24,160 --> 00:40:28,600 Speaker 6: focuses on college sports policies, with a priority on policies 844 00:40:28,640 --> 00:40:32,440 Speaker 6: that really are directed toward athletes, education, health, safety, and 845 00:40:32,480 --> 00:40:36,200 Speaker 6: their success. We partner with Elon University Poll to conduct 846 00:40:36,239 --> 00:40:41,600 Speaker 6: a national survey of Division one presidents, university presidents, athletic directors, 847 00:40:41,600 --> 00:40:46,360 Speaker 6: and other campus leaders to really help inform, frankly, Congress 848 00:40:46,400 --> 00:40:49,800 Speaker 6: and others as efforts proceed to build a new model 849 00:40:50,120 --> 00:40:54,080 Speaker 6: of Division one sports. There have been, you know, historic 850 00:40:54,239 --> 00:40:57,520 Speaker 6: changes in college sports. This year is the first year 851 00:40:57,560 --> 00:41:01,680 Speaker 6: ever in its history that rules Division I schools can 852 00:41:01,719 --> 00:41:07,359 Speaker 6: provide direct nil compensation compensation to athletes directly for the 853 00:41:07,600 --> 00:41:10,840 Speaker 6: for their name, image and likeness. So athletes are receiving 854 00:41:11,040 --> 00:41:14,960 Speaker 6: you know, compensation well in excess of of you know, 855 00:41:15,000 --> 00:41:19,040 Speaker 6: the traditional athletic scholarship, and so that's been a big change. 856 00:41:19,040 --> 00:41:23,080 Speaker 6: And we've also seen lots of changes around transfer rules 857 00:41:23,160 --> 00:41:27,160 Speaker 6: and now you know, you see more movement and more transfers. 858 00:41:27,480 --> 00:41:31,400 Speaker 6: We were assessing how leaders feel about all these changes. 859 00:41:31,600 --> 00:41:33,560 Speaker 3: There were a lot of questions that you asked during 860 00:41:33,560 --> 00:41:36,160 Speaker 3: the National Survey of DIVLON leaders. There were things ranging 861 00:41:36,200 --> 00:41:40,240 Speaker 3: from the Olympics to the House versus NCAA settlement terms 862 00:41:40,280 --> 00:41:41,759 Speaker 3: and all that good stuff. But I do want to 863 00:41:41,800 --> 00:41:44,279 Speaker 3: ask you about the transfer portal because as a spectator 864 00:41:44,560 --> 00:41:47,000 Speaker 3: of college sports, there's a case to be made that 865 00:41:47,160 --> 00:41:49,360 Speaker 3: it's not necessarily a bad thing, But it seems like 866 00:41:49,400 --> 00:41:52,680 Speaker 3: the results overwhelmingly say that the transfer portal has had 867 00:41:52,680 --> 00:41:54,680 Speaker 3: a negative impact on Div One. Talk to us a 868 00:41:54,719 --> 00:41:56,200 Speaker 3: little bit about what's driving that. 869 00:41:56,440 --> 00:41:59,920 Speaker 6: Our survey was conducted after these new rules went in 870 00:42:00,080 --> 00:42:04,360 Speaker 6: a place on July one, and we also earlier conducted 871 00:42:04,400 --> 00:42:07,879 Speaker 6: a public opinion poll, and there's a difference between how 872 00:42:07,920 --> 00:42:11,640 Speaker 6: the public views, you know, the differences in transfer rates 873 00:42:11,680 --> 00:42:15,440 Speaker 6: and transfer rules, and the Division one leaders. But overwhelmingly 874 00:42:15,760 --> 00:42:21,520 Speaker 6: Division one leaders identified the transfer rules as a big problem. 875 00:42:21,800 --> 00:42:24,920 Speaker 6: Nine in ten campus leaders said that transfer portal is 876 00:42:24,960 --> 00:42:28,840 Speaker 6: having a negative effect on Division one sports, and eighty 877 00:42:28,840 --> 00:42:32,120 Speaker 6: four percent strongly opposed the current rules. And now, the 878 00:42:32,200 --> 00:42:37,400 Speaker 6: current rules allow athletes to transfer and be immediately eligible 879 00:42:37,480 --> 00:42:41,400 Speaker 6: and unlimited number of times. Of course, those transfer athletes 880 00:42:41,440 --> 00:42:44,880 Speaker 6: still have to meet eligibility rules, so they still have 881 00:42:44,960 --> 00:42:48,920 Speaker 6: to show their on progress to achieve their degree. But 882 00:42:49,200 --> 00:42:52,239 Speaker 6: one of the other issues that's not captured in those 883 00:42:52,360 --> 00:42:57,840 Speaker 6: questions is how nil compensation and the continuing recruitment of 884 00:42:57,920 --> 00:43:01,440 Speaker 6: athletes using nil compensation has factored into that. 885 00:43:01,840 --> 00:43:05,160 Speaker 2: One thing about the study that I really like, and 886 00:43:05,719 --> 00:43:10,680 Speaker 2: a huge majority ninety three percent believe that universities must 887 00:43:10,760 --> 00:43:15,200 Speaker 2: continue offering Olympic sports such as gymnastics, swimming, track and field, 888 00:43:15,480 --> 00:43:19,760 Speaker 2: and others not associated with generating revenue. Can you expand 889 00:43:19,760 --> 00:43:20,359 Speaker 2: more on that. 890 00:43:20,600 --> 00:43:24,160 Speaker 6: The impact of kind of the new rules and allowing 891 00:43:24,480 --> 00:43:29,440 Speaker 6: institutions to provide in I Gael compensation two athletes has 892 00:43:29,600 --> 00:43:33,520 Speaker 6: raised some questions about the long term impact on non 893 00:43:33,600 --> 00:43:36,080 Speaker 6: revenue sports, or as we refer to them as the 894 00:43:36,120 --> 00:43:40,320 Speaker 6: collegiate Olympic sports. You know, as institutions put more money 895 00:43:40,360 --> 00:43:44,760 Speaker 6: into football and basketball, there's concern about what's in place 896 00:43:44,840 --> 00:43:47,640 Speaker 6: to make sure that we still have a broad based 897 00:43:47,719 --> 00:43:52,080 Speaker 6: opportunities for all athletes. And so from the Night Commission's perspective, 898 00:43:52,239 --> 00:43:55,839 Speaker 6: you know, the opportunity is a core value, but there's 899 00:43:55,880 --> 00:44:01,000 Speaker 6: also an impact on the Olympic success of the you know, 900 00:44:01,080 --> 00:44:05,239 Speaker 6: the US is incredibly and has been incredibly successful at 901 00:44:05,280 --> 00:44:08,800 Speaker 6: the Olympics. One of the most kind of misunderstood facts 902 00:44:08,840 --> 00:44:11,880 Speaker 6: in sports is that our country is unique in the 903 00:44:11,920 --> 00:44:15,480 Speaker 6: world and that our Olympic development system does not receive 904 00:44:15,680 --> 00:44:19,480 Speaker 6: any federal funding. And so the Olympic success has really 905 00:44:19,520 --> 00:44:24,120 Speaker 6: been dependent on our collegiate sports system. And so there's 906 00:44:24,239 --> 00:44:28,400 Speaker 6: a potential impact on number one opportunity, but then also 907 00:44:29,120 --> 00:44:32,719 Speaker 6: podium success at the top level of the Olympics. You know, 908 00:44:32,800 --> 00:44:35,680 Speaker 6: that's part of this survey, you know, looked at how 909 00:44:35,680 --> 00:44:40,680 Speaker 6: did Division one leaders feel about the importance of the 910 00:44:40,719 --> 00:44:44,480 Speaker 6: collegiate Olympic sports and then secondly, are there kind of 911 00:44:44,520 --> 00:44:51,080 Speaker 6: new funding mechanisms that should be pursued. And on that point, 912 00:44:51,120 --> 00:44:54,719 Speaker 6: with regard to the funding, nearly three quarters of leaders 913 00:44:55,000 --> 00:44:59,160 Speaker 6: favor using some type of federal funds to help finance 914 00:44:59,200 --> 00:45:05,280 Speaker 6: the collegiate Olympic sports and the development of future US Olympians. 915 00:45:05,400 --> 00:45:08,120 Speaker 6: And as it relates to sports gambling. Kind of an 916 00:45:08,120 --> 00:45:12,520 Speaker 6: interesting finding as well was that more than eighty percent 917 00:45:12,600 --> 00:45:15,520 Speaker 6: of Division one leaders supported the use of some kind 918 00:45:15,600 --> 00:45:20,160 Speaker 6: of federal tax on sports gambling operators to also, you know, 919 00:45:20,239 --> 00:45:24,239 Speaker 6: provide a new funding mechanism for collegiate Olympic sports. 920 00:45:24,440 --> 00:45:26,399 Speaker 7: I think it's interesting though that you brought that up, 921 00:45:26,520 --> 00:45:29,880 Speaker 7: because obviously you had said that we don't get federal 922 00:45:29,920 --> 00:45:34,279 Speaker 7: funding from for our NGOs of Olympic sports for them 923 00:45:34,320 --> 00:45:36,560 Speaker 7: to really so they're really relying on corporate sponsorship and 924 00:45:36,600 --> 00:45:39,160 Speaker 7: things like that. So I'm assuming that college athletics are 925 00:45:39,160 --> 00:45:41,680 Speaker 7: going to have to start doing that, specifically for Olympic 926 00:45:41,719 --> 00:45:44,120 Speaker 7: sports they're going to have to start getting specific corporate 927 00:45:44,120 --> 00:45:47,080 Speaker 7: sponsorship because those are also not the sports that are 928 00:45:47,120 --> 00:45:50,640 Speaker 7: getting NIL deals that we're seeing. But also I'm interested 929 00:45:51,360 --> 00:45:53,279 Speaker 7: to another point that that brings me to is how 930 00:45:53,280 --> 00:45:56,280 Speaker 7: it impacts women's sports, because that's also on the Olympics. 931 00:45:56,440 --> 00:45:58,520 Speaker 7: You know, I was a women's soccer player, a college 932 00:45:58,520 --> 00:46:02,000 Speaker 7: women's soccer player, and all of that just really comes 933 00:46:02,040 --> 00:46:05,520 Speaker 7: to fristion for me, which quite frankly was one of 934 00:46:05,560 --> 00:46:09,480 Speaker 7: the points that struck me was how I believe it 935 00:46:09,480 --> 00:46:13,399 Speaker 7: was three quarters of college athletic directors said that they 936 00:46:13,440 --> 00:46:17,680 Speaker 7: believe that revenue sharing should basically go to the sports 937 00:46:17,719 --> 00:46:21,600 Speaker 7: that make money, which obviously makes sense because that's what 938 00:46:21,640 --> 00:46:25,880 Speaker 7: revenue sharing means, but that's not really the majority of 939 00:46:25,960 --> 00:46:30,319 Speaker 7: Olympic sports or women's sports really. So how does that 940 00:46:30,440 --> 00:46:34,280 Speaker 7: impact title nin and gender equity on college campuses? 941 00:46:34,840 --> 00:46:37,279 Speaker 6: Now, it's a great question, and I think you know 942 00:46:37,400 --> 00:46:42,280 Speaker 6: this era and in what's now being allowed with the 943 00:46:42,320 --> 00:46:46,960 Speaker 6: in IL compensation, and again this is institutional in IL 944 00:46:47,040 --> 00:46:51,640 Speaker 6: compensation that that I'm speaking about. Of course, athletes can 945 00:46:51,680 --> 00:46:57,000 Speaker 6: also still receive the third party in IL compensation from 946 00:46:57,560 --> 00:47:00,840 Speaker 6: you know, the traditional endorsement agreement that they might have 947 00:47:01,080 --> 00:47:06,040 Speaker 6: with with companies, but with regard to the institutional athlete 948 00:47:06,040 --> 00:47:09,160 Speaker 6: and I L payments that are now allowed, it really 949 00:47:09,160 --> 00:47:12,920 Speaker 6: does raise one of the most complex legal and philosophical 950 00:47:13,040 --> 00:47:20,040 Speaker 6: challenges ahead for everyone because there's a you know, there's 951 00:47:20,080 --> 00:47:24,520 Speaker 6: a mixed there's a disagreement frankly, on whether institutional payments 952 00:47:24,640 --> 00:47:28,160 Speaker 6: should be based on how much money and athletes sports generates, 953 00:47:28,400 --> 00:47:32,520 Speaker 6: or whether it should be included in the amount of 954 00:47:32,680 --> 00:47:36,960 Speaker 6: institutional financial assistance has provided to athletes, which you know, 955 00:47:37,000 --> 00:47:40,000 Speaker 6: the latter is subject to kind of the Title nine 956 00:47:40,280 --> 00:47:45,000 Speaker 6: guidance on how to how that money, institutional money should 957 00:47:45,000 --> 00:47:49,880 Speaker 6: be awarded. And as you know, right now, the Division 958 00:47:49,920 --> 00:47:56,440 Speaker 6: I athletic programs operate as a part of the nonprofit 959 00:47:56,800 --> 00:47:59,920 Speaker 6: educational mission of the university. You know, the answer to 960 00:48:00,400 --> 00:48:04,320 Speaker 6: your question is not clear at all. Our surveys showed 961 00:48:04,360 --> 00:48:11,160 Speaker 6: that you know, leaders, presidents, ads, faculty athletic representatives, senior 962 00:48:11,200 --> 00:48:14,720 Speaker 6: women administrators. When you group all their responses, it's really 963 00:48:14,800 --> 00:48:18,280 Speaker 6: mixed views. But when you look at just the athletic directors, 964 00:48:18,320 --> 00:48:21,560 Speaker 6: more than three quarters said, you know, this new these 965 00:48:21,600 --> 00:48:24,799 Speaker 6: new institutional payment should just be based on how much 966 00:48:25,040 --> 00:48:29,960 Speaker 6: money the athlete's sport generates. I do expect that there 967 00:48:30,000 --> 00:48:34,480 Speaker 6: will be significant litigation on this issue moving forward. 968 00:48:34,719 --> 00:48:37,279 Speaker 3: I'm curious what did the commission find as it leads to, 969 00:48:37,840 --> 00:48:40,160 Speaker 3: you know, federal oversay, you know, some sweeping low because 970 00:48:40,239 --> 00:48:42,560 Speaker 3: right now in IL is really governed at the state level. Yeah, 971 00:48:42,600 --> 00:48:46,799 Speaker 3: and so you know, what's the consensus there, Should you know, 972 00:48:47,000 --> 00:48:49,560 Speaker 3: some of the rules governing you know, pay for play 973 00:48:49,600 --> 00:48:52,120 Speaker 3: be coming from the state level, or should there be 974 00:48:52,200 --> 00:48:54,400 Speaker 3: some sweeping federal legislation at this point? 975 00:48:54,520 --> 00:48:58,920 Speaker 6: The survey of Campus Division one campus leaders showed overwhelming 976 00:48:59,280 --> 00:49:03,160 Speaker 6: support for some type of federal legislation that would help 977 00:49:03,280 --> 00:49:09,120 Speaker 6: regulate NIL compensation. There currently does exist a patchwork of 978 00:49:09,840 --> 00:49:15,719 Speaker 6: different state laws about nil compensation. So leaders really want 979 00:49:15,760 --> 00:49:19,800 Speaker 6: to see some stability and some uniformity across the board, 980 00:49:19,920 --> 00:49:23,879 Speaker 6: and so trying to achieve federal legislation has certainly been 981 00:49:23,960 --> 00:49:28,360 Speaker 6: something that the NCAA and its institutions member institutions have 982 00:49:28,480 --> 00:49:33,800 Speaker 6: worked very hard on. The is there are two different 983 00:49:33,920 --> 00:49:37,120 Speaker 6: pieces of legislation, one in the House of Representatives and 984 00:49:37,160 --> 00:49:41,479 Speaker 6: one in the Senate that have been introduced. The bill 985 00:49:41,560 --> 00:49:44,799 Speaker 6: in the House is referenced as the Score Act, and 986 00:49:45,120 --> 00:49:49,360 Speaker 6: that does try to achieve some national standards on regulating 987 00:49:49,480 --> 00:49:53,080 Speaker 6: NIL as well as the bill that was introduced in 988 00:49:53,160 --> 00:49:57,239 Speaker 6: the Senate would do this something similar regarding NIL compensation. 989 00:49:57,800 --> 00:50:01,319 Speaker 6: So there's widespread agreement that that that kind of legislation 990 00:50:01,440 --> 00:50:06,440 Speaker 6: is needed, and then to allow the national rules to 991 00:50:06,520 --> 00:50:08,760 Speaker 6: supersede any conflicting state laws. 992 00:50:08,960 --> 00:50:11,839 Speaker 7: Our thanks to Amy Pervett Perko for joining us. She's 993 00:50:11,880 --> 00:50:14,879 Speaker 7: CEO at the Night Commission on Intercollegiate Athletics. 994 00:50:15,120 --> 00:50:16,880 Speaker 3: And that does it for this week's edition of The 995 00:50:16,880 --> 00:50:19,120 Speaker 3: Bloomberg Business of Sports What I Know. 996 00:50:19,400 --> 00:50:21,520 Speaker 7: If you missed anything, check it out on demand on 997 00:50:21,520 --> 00:50:23,880 Speaker 7: the Bloomberg Business of Sports Podcasts. Find that on your 998 00:50:23,920 --> 00:50:25,759 Speaker 7: favorite podcast platform and subscribe. 999 00:50:25,800 --> 00:50:29,320 Speaker 2: For my colleagues, Damien Sasawa and Vanessa Perdomo, I'm Michael Barr. 1000 00:50:29,440 --> 00:50:31,319 Speaker 3: Tune in again next week for the latest on the 1001 00:50:31,360 --> 00:50:33,800 Speaker 3: stories moving big money in the world of sports. 1002 00:50:33,880 --> 00:50:36,720 Speaker 2: Day now, you're listening to The Bloomberg Business of Sports 1003 00:50:36,719 --> 00:50:39,200 Speaker 2: from Bloomberg Radio around the world. 1004 00:50:39,360 --> 00:50:39,960 Speaker 8: Stay with us. 1005 00:50:39,960 --> 00:50:42,719 Speaker 7: Today's top stories and global business headlines are coming up 1006 00:50:42,840 --> 00:50:43,719 Speaker 7: right now.