1 00:00:00,400 --> 00:00:03,480 Speaker 1: Hello, I'm Scott Sash, I'm Evan, Novie Williams and Michael 2 00:00:03,480 --> 00:00:05,880 Speaker 1: Barr And this is the Bloomberg Business of Sports podcast, 3 00:00:05,880 --> 00:00:07,960 Speaker 1: where we explore the big many issues in the world 4 00:00:07,960 --> 00:00:11,119 Speaker 1: of sports. Today. We are joined in studio by a 5 00:00:11,200 --> 00:00:15,760 Speaker 1: special guest, commissioner of the National Lacrosse League, Nick Sekevic, 6 00:00:15,920 --> 00:00:19,239 Speaker 1: who is going to join us to talk about some 7 00:00:19,320 --> 00:00:22,480 Speaker 1: of the stories we're looking on. Nick. Welcome to the 8 00:00:22,480 --> 00:00:25,320 Speaker 1: Bloomberg Business of Sports. OK, it's great to be here, guys. 9 00:00:25,320 --> 00:00:28,400 Speaker 1: Thanks coming in studio. We love when they come in studio. Yeah. 10 00:00:28,680 --> 00:00:31,440 Speaker 1: And of the month, you got another season, thirty five, 11 00:00:31,640 --> 00:00:34,839 Speaker 1: thirty four, thirty four, it's the it's the eve of 12 00:00:34,840 --> 00:00:37,440 Speaker 1: our anniversary of our thirty fifth season, which will be 13 00:00:37,520 --> 00:00:40,400 Speaker 1: next year. Yeah, that's that's not nothing when you see 14 00:00:40,479 --> 00:00:43,160 Speaker 1: the leagues like don't even make it through a season 15 00:00:43,200 --> 00:00:45,479 Speaker 1: these days. Yeah, it's very true. We're very proud of that. 16 00:00:45,600 --> 00:00:47,720 Speaker 1: It's going to be a spectacular year with an all 17 00:00:47,760 --> 00:00:50,400 Speaker 1: time record number of teams this year, thirteen teams. One 18 00:00:50,479 --> 00:00:54,080 Speaker 1: here in New York City. You have some background in MLS, 19 00:00:54,280 --> 00:00:56,320 Speaker 1: and Evan and I and I mean we follow this 20 00:00:56,480 --> 00:00:59,560 Speaker 1: closely and we say, wait, how many teams does MLS 21 00:00:59,600 --> 00:01:03,520 Speaker 1: have now? It just seems there's this never ending addition 22 00:01:03,560 --> 00:01:08,160 Speaker 1: and expansion of MLS teams. But also now your eye 23 00:01:08,200 --> 00:01:11,040 Speaker 1: is on the prize moving forward. You've got two new 24 00:01:11,080 --> 00:01:15,240 Speaker 1: teams this year, including New York RIPTI. That's right, that's right. Well, 25 00:01:15,400 --> 00:01:17,880 Speaker 1: MLS I have more than a couple of coffee. There's 26 00:01:17,920 --> 00:01:21,080 Speaker 1: twenty one years of my life and slogging soccer tickets 27 00:01:21,080 --> 00:01:23,600 Speaker 1: for twenty one years. But that that league has been 28 00:01:23,640 --> 00:01:27,320 Speaker 1: really a gestation of thirty five years of soccer in America. 29 00:01:27,680 --> 00:01:30,280 Speaker 1: And I look at lacrosse and I see it similarly. 30 00:01:30,480 --> 00:01:32,760 Speaker 1: It's kind of where soccer was in the eighties and 31 00:01:33,200 --> 00:01:36,119 Speaker 1: it's about to explode with all these kids playing playing 32 00:01:36,120 --> 00:01:38,360 Speaker 1: the sport a lacrosse at the grassroots level. Yeah, I'm 33 00:01:38,360 --> 00:01:41,240 Speaker 1: actually I'm curious about that. It felt like lacrosse had 34 00:01:41,280 --> 00:01:43,720 Speaker 1: this big moment like eight or nine years ago, the 35 00:01:43,840 --> 00:01:46,640 Speaker 1: you know, the the n c A semifinals and finals 36 00:01:46,640 --> 00:01:49,240 Speaker 1: was it was a big deal for ESPN. In my opinion, 37 00:01:49,240 --> 00:01:51,360 Speaker 1: it seems like it's cooled off a little bit. Am 38 00:01:51,360 --> 00:01:53,000 Speaker 1: I wrong on that? How do you kind of assess 39 00:01:53,040 --> 00:01:55,760 Speaker 1: the health of the sport right now? I think it's 40 00:01:55,840 --> 00:01:59,240 Speaker 1: never been better. Um, you know, maybe that particular event, 41 00:01:59,600 --> 00:02:01,840 Speaker 1: uh cooled off a little bit because of the size 42 00:02:01,840 --> 00:02:03,720 Speaker 1: of the venues that they played in. And they also 43 00:02:03,760 --> 00:02:06,400 Speaker 1: moved like Baltimore always did very well. Then they moved 44 00:02:06,400 --> 00:02:09,200 Speaker 1: to like Philadelphia and New England. Yeah, it's a one 45 00:02:09,200 --> 00:02:11,640 Speaker 1: off event. And and and you know there's always moments in 46 00:02:11,720 --> 00:02:14,720 Speaker 1: that sport, in a developing sport like lacrosse. I lived 47 00:02:14,720 --> 00:02:18,080 Speaker 1: those moments in soccer for two decades. But I say 48 00:02:18,080 --> 00:02:20,000 Speaker 1: the sport has never been in a better place because 49 00:02:20,000 --> 00:02:22,120 Speaker 1: there's more and more kids playing the game. All the 50 00:02:22,480 --> 00:02:24,679 Speaker 1: all the football moms and dads that don't want to 51 00:02:24,720 --> 00:02:27,640 Speaker 1: let their kids play American football are and still like 52 00:02:27,680 --> 00:02:30,040 Speaker 1: to hit people are picking up lacrosse sticks. And you 53 00:02:30,040 --> 00:02:34,000 Speaker 1: guys are seeing that our attendance group twenty seven percent. 54 00:02:34,120 --> 00:02:36,520 Speaker 1: Last year, we did nearly a million fans through our 55 00:02:36,560 --> 00:02:40,520 Speaker 1: turn styles across eleven eleven teams. This year will be 56 00:02:40,560 --> 00:02:43,679 Speaker 1: thirteen teams with the New York Riptide here in New York. 57 00:02:43,720 --> 00:02:45,480 Speaker 1: So I want to invite all of you guys to 58 00:02:45,960 --> 00:02:48,640 Speaker 1: a New York Riptide game right and behind the glass 59 00:02:48,680 --> 00:02:50,720 Speaker 1: where we have our seats. Well, I have to say 60 00:02:51,240 --> 00:02:55,800 Speaker 1: there's a lot more exposure today on TV streaming whatever 61 00:02:55,960 --> 00:02:59,800 Speaker 1: to lacrosse than what it was twenty years ago. Absolutely, 62 00:02:59,840 --> 00:03:01,960 Speaker 1: and we're seeing it show up in the types of 63 00:03:01,960 --> 00:03:04,760 Speaker 1: athletes were getting. You know, our sport is changing color. 64 00:03:04,960 --> 00:03:07,360 Speaker 1: You know, we're seeing a lot of diversity in our sport. 65 00:03:07,440 --> 00:03:09,400 Speaker 1: We're very proud of the fact that teen percent of 66 00:03:09,440 --> 00:03:14,560 Speaker 1: our players are indigenous North American people's as well as 67 00:03:14,639 --> 00:03:17,880 Speaker 1: you're seeing a lot of big six ft six guys 68 00:03:17,960 --> 00:03:21,840 Speaker 1: of different backgrounds starting to pick up lacrosse sticks, the 69 00:03:22,080 --> 00:03:25,919 Speaker 1: plans and the power forwards exactly. They were playing football, 70 00:03:26,000 --> 00:03:29,600 Speaker 1: but you can't you can't hit people in soccer or basketball, 71 00:03:29,680 --> 00:03:32,040 Speaker 1: and they like to the physicality of the sports. So 72 00:03:32,040 --> 00:03:33,920 Speaker 1: we're seeing a lot of those athletes coming in. Can 73 00:03:34,000 --> 00:03:35,520 Speaker 1: you give us a sense of kind of what the 74 00:03:35,520 --> 00:03:38,280 Speaker 1: economics for the NL is. Is it driven by ticket? 75 00:03:38,400 --> 00:03:40,600 Speaker 1: Is it driven by media? Is a driven by sponsorship 76 00:03:40,680 --> 00:03:43,760 Speaker 1: kind of how does it compare to yes, yes, yes, 77 00:03:43,760 --> 00:03:46,920 Speaker 1: and yes mostly you know right now, like Major League 78 00:03:46,920 --> 00:03:50,080 Speaker 1: Soccer was in the early days, you know, ticket sales 79 00:03:50,080 --> 00:03:53,960 Speaker 1: and sponsorship, and we're very excited to have announced some 80 00:03:54,000 --> 00:03:57,440 Speaker 1: big sponsors last year. We're gonna we're announcing you know, 81 00:03:57,520 --> 00:04:00,280 Speaker 1: seems like we're making announcement every week, uh the last 82 00:04:00,280 --> 00:04:02,800 Speaker 1: couple of months here with new sponsors joining our league, 83 00:04:02,800 --> 00:04:05,000 Speaker 1: so it is very much ticket and sponsor. We do 84 00:04:05,040 --> 00:04:07,040 Speaker 1: have a media deal, so we have a media rights 85 00:04:07,040 --> 00:04:09,440 Speaker 1: deal with Turner Sports and b R Live. As you 86 00:04:09,480 --> 00:04:12,560 Speaker 1: guys probably know. Um, we're in the second year of 87 00:04:12,600 --> 00:04:15,800 Speaker 1: that long term deal. And it's exciting because these broadcast 88 00:04:15,800 --> 00:04:18,720 Speaker 1: partners see the future of the sport. They're investing in 89 00:04:18,720 --> 00:04:21,800 Speaker 1: it now. You know, it's not big, it's little, but 90 00:04:22,000 --> 00:04:25,120 Speaker 1: you know MLS was little in when I joined the league. 91 00:04:25,120 --> 00:04:27,960 Speaker 1: It's pretty big league now. So if you kind of 92 00:04:28,000 --> 00:04:30,279 Speaker 1: look around corners and see the millennial and gen Z 93 00:04:30,400 --> 00:04:33,400 Speaker 1: generation coming and they're coming in big mass you know 94 00:04:33,400 --> 00:04:35,840 Speaker 1: what there us I see who wants to put their 95 00:04:35,880 --> 00:04:38,599 Speaker 1: money in where ye So I look at you, I 96 00:04:38,680 --> 00:04:44,400 Speaker 1: look at NLLL investors Joe Tie recently in Pagoulas Sports, 97 00:04:44,800 --> 00:04:48,239 Speaker 1: Cronki Sports and Entertainment. These ain't nobody's in the business. 98 00:04:48,360 --> 00:04:51,520 Speaker 1: They see something. No, we have of our thirteen owners, 99 00:04:51,600 --> 00:04:55,200 Speaker 1: we have nine that are billionaires. Five NHL teams, to 100 00:04:55,440 --> 00:04:59,240 Speaker 1: NFL teams, two NBA teams, um and the independent owners 101 00:04:59,279 --> 00:05:04,520 Speaker 1: are straordinarily well resourced investors in the sport, and and 102 00:05:04,560 --> 00:05:06,280 Speaker 1: you have to invest in the sport. I mean we 103 00:05:06,279 --> 00:05:08,880 Speaker 1: watched it. I worked for Phil and Chuts and Robert 104 00:05:08,920 --> 00:05:12,600 Speaker 1: Kraft and uh Lamar Hunt for many years with MLS. 105 00:05:12,640 --> 00:05:14,640 Speaker 1: They put their money where their mouth is. There was 106 00:05:14,680 --> 00:05:18,560 Speaker 1: a new entrant into the professional lacrosse league world this year, 107 00:05:19,000 --> 00:05:20,919 Speaker 1: uh the PLLL, which is an outdoor league, not an 108 00:05:20,920 --> 00:05:22,960 Speaker 1: indoor league, so not a kind of a direct competitor 109 00:05:22,960 --> 00:05:25,440 Speaker 1: of yours. Did you see the market change? Is it? 110 00:05:25,520 --> 00:05:27,159 Speaker 1: Was it better? Was it worse? How did the market 111 00:05:27,279 --> 00:05:30,240 Speaker 1: change if it did at all for you guys. Suddenly 112 00:05:30,240 --> 00:05:32,520 Speaker 1: with another professional lacrosse league in the U S, Well, 113 00:05:32,560 --> 00:05:35,720 Speaker 1: it had a very positive effect on our league UM 114 00:05:35,760 --> 00:05:39,920 Speaker 1: because all of our players UM had the opportunity to 115 00:05:39,960 --> 00:05:43,360 Speaker 1: play in that league as well as the MLLL. So 116 00:05:43,520 --> 00:05:45,960 Speaker 1: we have about eight players total that play in both 117 00:05:45,960 --> 00:05:49,279 Speaker 1: of those leagues UM. Of the top twenty players in 118 00:05:49,360 --> 00:05:51,839 Speaker 1: both those leagues, seventeen of them played in the NLL 119 00:05:52,240 --> 00:05:55,240 Speaker 1: of the top so it's it was really good for us. 120 00:05:55,279 --> 00:05:57,440 Speaker 1: It gives our players the ability to go and make 121 00:05:57,480 --> 00:05:59,960 Speaker 1: are an extra money in the offseason. All of the 122 00:06:00,000 --> 00:06:02,400 Speaker 1: AS players that play in both leagues are full time 123 00:06:02,560 --> 00:06:05,040 Speaker 1: lacrosse athletes, and that's what the sport really needs. So 124 00:06:05,320 --> 00:06:07,719 Speaker 1: there was a direct benefit to to us from a 125 00:06:08,040 --> 00:06:12,200 Speaker 1: operational player standpoint, um from a commercial standpoint. You know, 126 00:06:12,240 --> 00:06:16,280 Speaker 1: we're having great conversations with those leagues and as you know, 127 00:06:16,360 --> 00:06:18,599 Speaker 1: many of our players playing both of those leagues. So 128 00:06:18,640 --> 00:06:20,760 Speaker 1: we want to uh, we want to grow the sport. 129 00:06:20,960 --> 00:06:23,240 Speaker 1: They did a great job PLL in their launch. I 130 00:06:23,320 --> 00:06:26,799 Speaker 1: think what's really cool is that I'm hearing more names 131 00:06:27,120 --> 00:06:31,240 Speaker 1: of top lacrosse players becoming more mainstream. They are, they're 132 00:06:31,279 --> 00:06:33,960 Speaker 1: starting to, you know, but it's our job as leagues 133 00:06:34,080 --> 00:06:36,279 Speaker 1: to make them more mainstream, to put them out in 134 00:06:36,320 --> 00:06:39,159 Speaker 1: front and that and one of the great benefits of 135 00:06:39,240 --> 00:06:43,400 Speaker 1: having sponsors like Geico and Mikhaelo Ultra and Hannheiser's a 136 00:06:43,400 --> 00:06:47,400 Speaker 1: good commissioner right there, got the sponsors and our broadcast 137 00:06:47,440 --> 00:06:49,720 Speaker 1: partner is to expose our athletes, is to get them out. 138 00:06:49,760 --> 00:06:53,640 Speaker 1: They they've got great stories to tell their superhuman athletes. 139 00:06:53,760 --> 00:06:55,640 Speaker 1: Is it more of a partnership now than ever before 140 00:06:55,720 --> 00:06:58,599 Speaker 1: because of social media and the player's ability to take 141 00:06:58,640 --> 00:07:02,080 Speaker 1: their message directly to fans. A partnership with the players, Yeah, 142 00:07:02,240 --> 00:07:04,720 Speaker 1: and sort of promoting the game itself, Yeah, no doubt. 143 00:07:04,920 --> 00:07:07,200 Speaker 1: Um this year. A couple of months ago in September, 144 00:07:07,279 --> 00:07:10,600 Speaker 1: we had our first player business summit, So we had 145 00:07:10,680 --> 00:07:14,520 Speaker 1: thirteen players, active players, many of them star players in 146 00:07:14,520 --> 00:07:17,040 Speaker 1: our league, come to Philadelphia and we did a we 147 00:07:17,080 --> 00:07:19,640 Speaker 1: did a business summit on how we can activate better 148 00:07:19,720 --> 00:07:22,520 Speaker 1: on social and how those players can become more relevant, 149 00:07:22,760 --> 00:07:24,680 Speaker 1: and also ideas on how to grow the league in 150 00:07:24,720 --> 00:07:27,000 Speaker 1: the sport. It was really beneficial. I tweeted about this 151 00:07:27,040 --> 00:07:29,480 Speaker 1: earlier this week, but it kind of shocked me. ESPN 152 00:07:29,560 --> 00:07:32,600 Speaker 1: put out a poll of NHL players earlier this week, 153 00:07:32,880 --> 00:07:35,520 Speaker 1: and one of the questions they asked was, would you 154 00:07:35,560 --> 00:07:39,080 Speaker 1: be comfortable appearing in a national television ad campaign with 155 00:07:39,120 --> 00:07:41,640 Speaker 1: a company like Gatorade or Nike or would you feel 156 00:07:41,680 --> 00:07:44,320 Speaker 1: like that was putting yourself ahead of the team. And 157 00:07:44,520 --> 00:07:47,320 Speaker 1: over a third of the NHL players they surveyed said 158 00:07:47,320 --> 00:07:50,960 Speaker 1: they would not want that deal because of kind of 159 00:07:51,000 --> 00:07:54,320 Speaker 1: the dynamic within the team. That shocked me. I agree. 160 00:07:54,320 --> 00:07:56,760 Speaker 1: I think we're kind of in this new age where athletes, 161 00:07:56,840 --> 00:07:58,800 Speaker 1: you know, because of social media and just are are 162 00:07:58,800 --> 00:08:01,600 Speaker 1: probably more savvy about their own brands and the benefits 163 00:08:01,640 --> 00:08:03,640 Speaker 1: that they can do by leveraging their startum on the ice, 164 00:08:03,760 --> 00:08:05,480 Speaker 1: or on the court or on the field. Does that 165 00:08:05,520 --> 00:08:07,680 Speaker 1: surprise you? I mean, is the cross of different. Do 166 00:08:07,720 --> 00:08:10,320 Speaker 1: you think your your guys would have a different answer 167 00:08:10,360 --> 00:08:13,040 Speaker 1: to that. It does. It doesn't surprise me about hockey 168 00:08:13,120 --> 00:08:16,080 Speaker 1: because and those guys say that because they are really 169 00:08:16,480 --> 00:08:21,080 Speaker 1: blue collar, you know, lunchpel athletes. I mean, they are 170 00:08:21,160 --> 00:08:23,840 Speaker 1: amazing athletes, but it's all about the team. It's all 171 00:08:23,840 --> 00:08:28,080 Speaker 1: about the culture they're um for us. We we see 172 00:08:28,120 --> 00:08:30,720 Speaker 1: that from from a little bit from some of the 173 00:08:30,800 --> 00:08:33,360 Speaker 1: players that come from that culture. As you know, we 174 00:08:33,400 --> 00:08:36,600 Speaker 1: have a big Canadian influence in our league as well. 175 00:08:36,920 --> 00:08:38,760 Speaker 1: But you know, we see some new up and coming 176 00:08:38,800 --> 00:08:43,040 Speaker 1: players like Trevor Baptiste in Philadelphia who's just a marketing 177 00:08:43,160 --> 00:08:46,040 Speaker 1: dynamo and the best face off guy in the league. 178 00:08:46,520 --> 00:08:50,120 Speaker 1: Uh Matt Rambo who was PL's most valuable player. He's 179 00:08:50,120 --> 00:08:53,480 Speaker 1: another big star in Philadelphia. Come from Gary Gate, Paul Gate, 180 00:08:53,520 --> 00:08:57,679 Speaker 1: Tommy marri Chick, I'm Syracuse. Yeah. Yeah, So we're seeing that. 181 00:08:57,720 --> 00:09:00,440 Speaker 1: We're seeing the change though. We're seeing players like Rambo 182 00:09:00,679 --> 00:09:04,520 Speaker 1: and uh Baptiste really embrace social media and get themselves 183 00:09:04,559 --> 00:09:07,360 Speaker 1: out there. It helps the league, the Commissioner of the 184 00:09:07,480 --> 00:09:11,600 Speaker 1: National Lacrosse League, Nick Sakevich, thank you so much, sir 185 00:09:11,679 --> 00:09:14,000 Speaker 1: for joining us. He's gonna he's gonna stick around for 186 00:09:14,000 --> 00:09:16,760 Speaker 1: some topics. Absolutely that, but that the whole morning. Yeah, 187 00:09:18,679 --> 00:09:21,600 Speaker 1: he's gonna do some newscasts too. We wanted to do 188 00:09:21,640 --> 00:09:24,200 Speaker 1: your job. I mean, how hard get it coming and 189 00:09:24,320 --> 00:09:27,200 Speaker 1: join us? Now I gotta do my to my tribute 190 00:09:27,240 --> 00:09:32,680 Speaker 1: to the late Keith Jackson. For this next topic, there's lord. 191 00:09:33,000 --> 00:09:36,160 Speaker 1: Let's see, gentlemen, let's talk about a big, big game 192 00:09:36,240 --> 00:09:40,120 Speaker 1: in college football coming this weekend. Nell l s you 193 00:09:40,320 --> 00:09:43,680 Speaker 1: heading the Alabama to take on the Crimson died You 194 00:09:43,720 --> 00:09:46,240 Speaker 1: watch that, Nick, You're excited for LSU Alabama knowing they're 195 00:09:46,240 --> 00:09:48,720 Speaker 1: still a playoff down the road. I'm I am. Actually 196 00:09:48,720 --> 00:09:52,000 Speaker 1: I did a lot of business in Birmingham, way back business. 197 00:09:52,000 --> 00:09:54,800 Speaker 1: Did you in Birmingham? What do we got? I did insurance? 198 00:09:55,120 --> 00:09:58,640 Speaker 1: Uh in auto insurance in Birmingham, Alabama. Some of the 199 00:09:58,679 --> 00:10:02,920 Speaker 1: best game hunting round doesn't doesn't even have a car dealership. 200 00:10:03,080 --> 00:10:09,000 Speaker 1: He does. You should then what do they say? There's 201 00:10:09,000 --> 00:10:13,920 Speaker 1: two seasons in Alabama football and spring football have been 202 00:10:13,960 --> 00:10:17,439 Speaker 1: give me some numbers on these programs for obviously number 203 00:10:17,440 --> 00:10:19,480 Speaker 1: one and number two. That's why it's important to give 204 00:10:19,520 --> 00:10:22,559 Speaker 1: me some financial numbers. Yeah, so Alabama has a hundred 205 00:10:22,559 --> 00:10:24,760 Speaker 1: and seventy seven million dollar athletic budget l s U 206 00:10:24,840 --> 00:10:27,640 Speaker 1: a little bit lower, a hundred forty five football obviously 207 00:10:27,679 --> 00:10:30,400 Speaker 1: the main driver there. The Alabama football team makes a 208 00:10:30,440 --> 00:10:37,040 Speaker 1: hundred and eleven billion dollars in revenue every years. Are 209 00:10:37,080 --> 00:10:39,199 Speaker 1: on by the way, A former Syracuse assistant, a former 210 00:10:39,240 --> 00:10:41,800 Speaker 1: teacher of yours, right, Yes, what we were called do 211 00:10:42,120 --> 00:10:43,800 Speaker 1: a demo? I think when we had to take one 212 00:10:43,800 --> 00:10:46,160 Speaker 1: of these physical classes in the Carrier Dome, it was 213 00:10:46,200 --> 00:10:48,480 Speaker 1: really for guys who were going to try out for 214 00:10:48,480 --> 00:10:51,840 Speaker 1: the football team as walk ons. I mean, I was like, yeah, 215 00:10:51,880 --> 00:10:53,960 Speaker 1: maybe I'll try this, kicker, I can do this as fun. 216 00:10:54,200 --> 00:10:56,240 Speaker 1: But here I am in these classes, running cones and 217 00:10:56,280 --> 00:10:59,600 Speaker 1: doing strength drills with really good athletes, and I'm like, wait, 218 00:10:59,640 --> 00:11:02,319 Speaker 1: who's that guys over there? So you always ask Michael 219 00:11:02,360 --> 00:11:04,360 Speaker 1: bar to do impressions. Can we get an ed order 220 00:11:04,440 --> 00:11:12,120 Speaker 1: on impression? Very good? Very good? Nick? I actually want 221 00:11:12,120 --> 00:11:13,600 Speaker 1: to get your I want to get your thoughts on 222 00:11:13,600 --> 00:11:16,000 Speaker 1: this because the game, you know, one of the biggest, 223 00:11:16,000 --> 00:11:18,040 Speaker 1: probably probably the biggest college football game of the year. 224 00:11:18,040 --> 00:11:20,840 Speaker 1: It's appearing on TV at three thirty, two thirty Eastern 225 00:11:21,320 --> 00:11:24,480 Speaker 1: or two thirty Local instead of in primetime, which is 226 00:11:24,520 --> 00:11:27,560 Speaker 1: a decision that CBS made earlier in the year. So 227 00:11:27,679 --> 00:11:30,000 Speaker 1: CBS has the right to pick you know, which college, 228 00:11:30,080 --> 00:11:32,520 Speaker 1: which game of the week they want. They get one 229 00:11:32,520 --> 00:11:35,760 Speaker 1: primetime game a year, and they elected before the season 230 00:11:35,760 --> 00:11:39,600 Speaker 1: started to do Georgia Notre Dame earlier in September. Um, 231 00:11:39,679 --> 00:11:41,920 Speaker 1: is that a mistake? Do you think? I mean, do 232 00:11:41,960 --> 00:11:43,840 Speaker 1: you think they would they like to go back and 233 00:11:43,920 --> 00:11:45,960 Speaker 1: change that, or do you think this is fine to 234 00:11:45,960 --> 00:11:47,920 Speaker 1: have it not in a prime time slot. I don't know, 235 00:11:47,920 --> 00:11:49,719 Speaker 1: because I'm not on the inside of that business. Is 236 00:11:49,840 --> 00:11:52,600 Speaker 1: certainly know those guys over there, they're extremely smart. But 237 00:11:52,679 --> 00:11:57,199 Speaker 1: it sounds to me like a digital gen Z millennial 238 00:11:57,280 --> 00:12:01,600 Speaker 1: streaming opportunity to me and getting those kids. It's uh, kids, 239 00:12:01,640 --> 00:12:05,920 Speaker 1: they're adults now, man, are not kids anymore. They're driving 240 00:12:05,920 --> 00:12:09,000 Speaker 1: our economy. But um, but it sounds like a strategic 241 00:12:09,040 --> 00:12:12,240 Speaker 1: play to get a new young audience. Pretty repped up 242 00:12:12,280 --> 00:12:14,000 Speaker 1: about it. So I bet I imagine the bars will 243 00:12:14,000 --> 00:12:16,200 Speaker 1: be pretty full at the clock. And you know darn 244 00:12:16,240 --> 00:12:18,760 Speaker 1: well that Notre Dame at night'll do. Just find anyway 245 00:12:18,760 --> 00:12:22,120 Speaker 1: that's that's true. Now, by the way, if you guys 246 00:12:22,200 --> 00:12:24,160 Speaker 1: want to know before we move on to the next topic, 247 00:12:24,720 --> 00:12:28,160 Speaker 1: the spread on the game Alabama is giving up six 248 00:12:28,160 --> 00:12:31,680 Speaker 1: and a half. The total point spread is sixty three 249 00:12:31,720 --> 00:12:35,640 Speaker 1: point five for the over and under the points. So 250 00:12:35,720 --> 00:12:39,160 Speaker 1: there you go, moving right along. Next story one that 251 00:12:39,200 --> 00:12:43,000 Speaker 1: you guys broke yesterday on Bruins Sports Capital and how 252 00:12:43,040 --> 00:12:46,080 Speaker 1: the sports and entertainment firm run by former NASCAR and 253 00:12:46,160 --> 00:12:50,240 Speaker 1: IMG executive George Pine is raising six million dollars from 254 00:12:50,240 --> 00:12:54,880 Speaker 1: CBC Capital Partners and the Jordan Company to fund its expansion. Alright, 255 00:12:54,920 --> 00:12:56,719 Speaker 1: so our friend George Pine is out there's a big 256 00:12:56,720 --> 00:12:59,360 Speaker 1: game hunting. Now, you know, he's got Delta tray. He's 257 00:12:59,360 --> 00:13:02,400 Speaker 1: got but he's he's he's he's got some money to spend. 258 00:13:03,040 --> 00:13:06,280 Speaker 1: I'm gonna pitch meeting with Nick sa Keevic. You want 259 00:13:06,400 --> 00:13:09,480 Speaker 1: somebody as the next owner in n LL Let me 260 00:13:09,520 --> 00:13:12,760 Speaker 1: hear that that elevator pitch. Well, we have a private 261 00:13:12,760 --> 00:13:15,800 Speaker 1: equity company that owns the New York criptide GF calfit 262 00:13:16,520 --> 00:13:20,840 Speaker 1: GF Sports involved there. The former mentioned they made a 263 00:13:20,880 --> 00:13:24,960 Speaker 1: strategic investment in the National Across League. Why Because it's 264 00:13:25,000 --> 00:13:27,360 Speaker 1: the it's the next big thing. It's the's the sport 265 00:13:27,360 --> 00:13:29,920 Speaker 1: of gen Z and millennial, It's what's coming down the pike. 266 00:13:30,360 --> 00:13:33,320 Speaker 1: We're a young audience, uh, and we're driving value at 267 00:13:33,360 --> 00:13:36,360 Speaker 1: a very low investment level. Does that private equity mindset? 268 00:13:36,559 --> 00:13:39,319 Speaker 1: Were you at all sort of three, five, six year 269 00:13:39,360 --> 00:13:42,760 Speaker 1: horizon and then onto something else? It did initially when 270 00:13:42,840 --> 00:13:45,360 Speaker 1: we started talking to them, but then understanding what their 271 00:13:45,440 --> 00:13:47,720 Speaker 1: long term play was and what their long term vision 272 00:13:47,840 --> 00:13:50,080 Speaker 1: was was really important. I mean, look, we did that 273 00:13:50,120 --> 00:13:53,080 Speaker 1: in MLS as well. Uh, And it got a private 274 00:13:53,080 --> 00:13:56,160 Speaker 1: equity investor into Soccer United marketing and the exit was 275 00:13:56,200 --> 00:13:59,280 Speaker 1: great for everybody. So we're not afraid of it as 276 00:13:59,280 --> 00:14:01,240 Speaker 1: long as we under dan with the long term play 277 00:14:01,320 --> 00:14:04,200 Speaker 1: is of that equity fund. Let's go outside lacrosse for 278 00:14:04,240 --> 00:14:07,480 Speaker 1: a second. You have the six million dollars that Bruin had, 279 00:14:07,679 --> 00:14:09,680 Speaker 1: You can invest it in the cross. What are you 280 00:14:09,720 --> 00:14:13,080 Speaker 1: looking at in in the sports media entertainment? What interest 281 00:14:13,160 --> 00:14:15,439 Speaker 1: you as a as a good investment right now? There's 282 00:14:15,520 --> 00:14:21,000 Speaker 1: a lot of high value, low kind of low hanging 283 00:14:21,040 --> 00:14:23,880 Speaker 1: fruit in in all sports that are out there right now. 284 00:14:24,240 --> 00:14:26,200 Speaker 1: Happen to be very familiar with soccer, so I know 285 00:14:26,240 --> 00:14:29,960 Speaker 1: that exists around the world. And also technology. Um, I 286 00:14:30,040 --> 00:14:33,920 Speaker 1: think sports betting is driving a lot of technologies. Um. 287 00:14:34,080 --> 00:14:37,320 Speaker 1: We are just announcing today a deal with sports Logic 288 00:14:37,360 --> 00:14:41,880 Speaker 1: company up in Montreal. Very very good example of a 289 00:14:42,680 --> 00:14:46,360 Speaker 1: high value, low entry point investment. So if I'm in 290 00:14:46,400 --> 00:14:49,000 Speaker 1: private equity, which I'm not, I'm looking at those types 291 00:14:49,040 --> 00:14:53,000 Speaker 1: of opportunities. Finally, here's one right up here, Ali Evan. 292 00:14:53,120 --> 00:14:55,840 Speaker 1: We're talking about Forbes and they're out with the list 293 00:14:55,880 --> 00:14:58,960 Speaker 1: of valuations for E sports companies. I've become the go 294 00:14:59,080 --> 00:15:03,880 Speaker 1: to E sports person. Um. Yeah, speaking yes, speaking of 295 00:15:03,880 --> 00:15:06,320 Speaker 1: a couple hundred million dollars. Yeah. This is the second 296 00:15:06,320 --> 00:15:07,920 Speaker 1: time Forbes has put out its list of the most 297 00:15:07,960 --> 00:15:11,560 Speaker 1: valuable sports franchises. The top two tied at the top, 298 00:15:11,600 --> 00:15:14,880 Speaker 1: Cloud nine Solo Mid both worth four hundred million dollars 299 00:15:14,960 --> 00:15:18,040 Speaker 1: right now, um, which is a pretty wild number. Um. 300 00:15:18,400 --> 00:15:20,840 Speaker 1: And you know the folks who saw Mark Cuban's comments 301 00:15:20,920 --> 00:15:23,200 Speaker 1: last week, there there's a lot of people that think 302 00:15:23,200 --> 00:15:26,960 Speaker 1: that this business. Said, it's a bad business. UM said, 303 00:15:26,960 --> 00:15:28,960 Speaker 1: a lot of teams are losing money. I know personally, 304 00:15:29,000 --> 00:15:30,160 Speaker 1: there are a lot of teams out there that are 305 00:15:30,160 --> 00:15:32,280 Speaker 1: trying to raise money at valuations that you know they're 306 00:15:32,280 --> 00:15:34,400 Speaker 1: not getting. They're not getting the terms that they that 307 00:15:34,440 --> 00:15:38,160 Speaker 1: they were expecting. Um, but four hundred million dollars, that's 308 00:15:38,160 --> 00:15:41,200 Speaker 1: a that's a nice joke. The most valuable MLS franchises 309 00:15:41,240 --> 00:15:43,320 Speaker 1: are worth a little bit more than that. Maybe there 310 00:15:43,360 --> 00:15:46,280 Speaker 1: are there are a handful of NHL franchises that would 311 00:15:46,280 --> 00:15:49,600 Speaker 1: probably trade at lower than that number. Um, what do 312 00:15:49,640 --> 00:15:51,560 Speaker 1: we think about the what do we think about four millions? 313 00:15:52,040 --> 00:15:55,200 Speaker 1: Your take on an E sports franchise in these valuations, 314 00:15:55,240 --> 00:15:57,880 Speaker 1: whether it's E sports or MLS or NLL. I mean 315 00:15:57,880 --> 00:16:00,120 Speaker 1: we've had a six percent increase in the last three 316 00:16:00,200 --> 00:16:04,000 Speaker 1: years ourselves in in franchise valuations bottom line book value 317 00:16:04,080 --> 00:16:06,200 Speaker 1: or promise of what's to come. No, that's you know 318 00:16:06,240 --> 00:16:09,480 Speaker 1: what the last team paid for. What can you give 319 00:16:09,520 --> 00:16:11,600 Speaker 1: us a number of some kind of metric to give 320 00:16:11,640 --> 00:16:14,120 Speaker 1: people an understanding. Yeah, I mean relative to those other 321 00:16:14,160 --> 00:16:16,880 Speaker 1: sports were still small, but I think about five million. 322 00:16:16,920 --> 00:16:22,040 Speaker 1: But we're selling franchises now in eight figures, so so 323 00:16:22,160 --> 00:16:26,200 Speaker 1: it's it's serious. Um. But my point is is that 324 00:16:26,280 --> 00:16:28,960 Speaker 1: it's waterfront real estate. There's only a certain number of 325 00:16:28,960 --> 00:16:31,800 Speaker 1: teams you can buy in any certain league. And the 326 00:16:31,920 --> 00:16:34,960 Speaker 1: more that sell there become fewer and fewer, and if 327 00:16:34,960 --> 00:16:37,600 Speaker 1: you own one, it becomes valuable. So they're not making 328 00:16:37,640 --> 00:16:40,920 Speaker 1: any more of waterfront real estate. So I I equated 329 00:16:41,040 --> 00:16:42,800 Speaker 1: to that, and that's why you're seeing a lot of 330 00:16:42,800 --> 00:16:45,040 Speaker 1: these values drive up for folks who listened to our 331 00:16:45,080 --> 00:16:47,520 Speaker 1: podcasts a lot. We had the CEO of Gen G 332 00:16:47,880 --> 00:16:50,160 Speaker 1: the sports team on a couple of months ago their 333 00:16:50,240 --> 00:16:52,480 Speaker 1: number six a D eighty five million, and then last 334 00:16:52,560 --> 00:16:55,640 Speaker 1: year we had the founder of G two, Carlos Rodriguez, 335 00:16:55,640 --> 00:16:57,920 Speaker 1: on the podcast their number nine at a hundred and 336 00:16:57,960 --> 00:16:59,840 Speaker 1: sixty five million. One of the things that shocked me 337 00:17:00,000 --> 00:17:01,560 Speaker 1: out this list. Maybe it doesn't shock me, but I 338 00:17:01,600 --> 00:17:03,760 Speaker 1: think it stood out the multiplayers on these and this 339 00:17:03,840 --> 00:17:06,280 Speaker 1: is obviously the multiplayer revenue is just one way to 340 00:17:06,280 --> 00:17:08,960 Speaker 1: think about valuations, but some of these teams are valued 341 00:17:08,960 --> 00:17:13,399 Speaker 1: at two times the revenue they're coming in. That seems 342 00:17:13,400 --> 00:17:16,240 Speaker 1: like a very lofty number, especially, I mean, even though 343 00:17:16,280 --> 00:17:20,880 Speaker 1: it's a it's an industry. Again again, it's waterfront real estate, 344 00:17:21,000 --> 00:17:23,720 Speaker 1: and there's only certain number of these franchises that you 345 00:17:23,760 --> 00:17:26,040 Speaker 1: can buy, and if you own one, it's really highly valuable. 346 00:17:26,040 --> 00:17:28,560 Speaker 1: There's only one Michael Barr. There's scarcity value. We get 347 00:17:28,600 --> 00:17:30,560 Speaker 1: to sit next to him. I mean, what would we 348 00:17:30,600 --> 00:17:35,680 Speaker 1: pay for that experience? About thirteen cents? Wrap it up. Yeah, So, Nick, 349 00:17:36,160 --> 00:17:37,919 Speaker 1: thank you so much for coming. Thanks for having me. 350 00:17:37,960 --> 00:17:40,679 Speaker 1: This is great talking business. That was cool. Thank you. 351 00:17:40,800 --> 00:17:43,040 Speaker 1: This has been the Bloomberg Business of Sports podcast, not 352 00:17:43,119 --> 00:17:45,359 Speaker 1: Michael Barr, along with Scott sash Nick and Evan Nolvie 353 00:17:45,359 --> 00:17:48,040 Speaker 1: Williams here every Monday, Wednesday and Thursday exploring the world 354 00:17:48,040 --> 00:17:49,639 Speaker 1: of money in sports. Join us again at the end 355 00:17:49,640 --> 00:17:51,480 Speaker 1: of the week when we speak with Hugh Weber, President 356 00:17:51,480 --> 00:17:55,000 Speaker 1: of Harris Blitzer Sports and Entertainment. You're listening the Bloomberg 357 00:17:55,000 --> 00:17:59,040 Speaker 1: Business of Sports on Bloomberg Radio around the world and 358 00:17:59,119 --> 00:18:00,840 Speaker 1: online wherever you get in your podcasts.