1 00:00:00,280 --> 00:00:03,360 Speaker 1: This is the business of sports. Let's talk Super Bowl 2 00:00:03,520 --> 00:00:06,600 Speaker 1: and Fox Sports every single thing that occurs. I want 3 00:00:06,600 --> 00:00:08,880 Speaker 1: people to remember, this is a business. Guaranteed. Money isn't 4 00:00:08,920 --> 00:00:13,560 Speaker 1: necessarily guaranteed. Michael bar How high can these valuations go? Scott, 5 00:00:14,800 --> 00:00:18,200 Speaker 1: everybody loves rooting against him right. Evan Williams Off the field, 6 00:00:18,239 --> 00:00:20,439 Speaker 1: the NBA has never been buzzier. And the leaders in 7 00:00:20,480 --> 00:00:23,720 Speaker 1: the sports industry Major League Baseball Commissioner Rob Manfredd Mica 8 00:00:23,840 --> 00:00:26,599 Speaker 1: Roscoe is the commissioner of the American Athletic Conferest. Here 9 00:00:26,600 --> 00:00:29,319 Speaker 1: In Smith, President of Ticketmasters in the Race, car driver 10 00:00:29,440 --> 00:00:34,040 Speaker 1: Elio Castro, and Evs Bloomberg Business of Sports from Bloomberg Radio. Hello, 11 00:00:34,080 --> 00:00:37,120 Speaker 1: I'm Michael Bar, I'm Evan Novie Williams, and I'm Scottshnik. 12 00:00:37,159 --> 00:00:39,800 Speaker 1: Every week at this time, plus Mondays and Wednesdays, we 13 00:00:39,840 --> 00:00:41,760 Speaker 1: explore the big money issues in the world of sports. 14 00:00:41,800 --> 00:00:45,080 Speaker 1: Today we sit down with Richard Petty, former president and 15 00:00:45,200 --> 00:00:49,280 Speaker 1: CEO of Maple Leaf Sports and Entertainment, the parent company 16 00:00:49,320 --> 00:00:52,760 Speaker 1: of the Toronto Raptors and Maple Leafs. Petty oversaw a 17 00:00:52,840 --> 00:00:56,800 Speaker 1: number of transformational projects during his tenure, including the acquisition 18 00:00:57,120 --> 00:00:59,560 Speaker 1: of the Raptors, We're gonna talk all about that straight 19 00:00:59,560 --> 00:01:02,720 Speaker 1: ahead on the Bloomberry Business of Sports Show. But first, now, 20 00:01:02,800 --> 00:01:04,520 Speaker 1: let's look at some of the topics of the week. 21 00:01:05,720 --> 00:01:09,920 Speaker 1: I like this one. The Dodgers. They will fill your 22 00:01:09,959 --> 00:01:13,440 Speaker 1: gas tank while you're at the stadium. You gotta explain this, Yeah, 23 00:01:13,560 --> 00:01:15,399 Speaker 1: some of these. When we say the biggest stories of 24 00:01:15,400 --> 00:01:18,480 Speaker 1: the week, sometimes maybe we stretch of the biggest, but 25 00:01:18,560 --> 00:01:22,440 Speaker 1: sometimes creative and sometimes the ones that make the most 26 00:01:22,520 --> 00:01:24,720 Speaker 1: sense and the ones that can add value to a 27 00:01:24,760 --> 00:01:27,720 Speaker 1: team's customers, I think we should talk about and this 28 00:01:27,760 --> 00:01:30,080 Speaker 1: is one of them. The Dodgers. They signed an agreement 29 00:01:30,080 --> 00:01:33,240 Speaker 1: with the company called Fuster Fuelster. So what you do is, 30 00:01:33,319 --> 00:01:35,840 Speaker 1: you know, you get in your car, which people in 31 00:01:36,400 --> 00:01:40,280 Speaker 1: l A. Los Angelinos are apt to do. You drive 32 00:01:40,480 --> 00:01:43,320 Speaker 1: out there to the game. Let's say, oh wait a minute, 33 00:01:43,360 --> 00:01:45,320 Speaker 1: I'm a little low on gas. I'm under a quarter 34 00:01:45,360 --> 00:01:47,560 Speaker 1: of a tank, and I'm you don't have to stop bar. 35 00:01:47,960 --> 00:01:51,360 Speaker 1: You park your car at the stadium, you go inside, 36 00:01:51,560 --> 00:01:54,000 Speaker 1: you have the app for the you know, the fuelster. 37 00:01:54,520 --> 00:01:57,240 Speaker 1: You'll leave your gas thing unlocked. And I guess now 38 00:01:57,240 --> 00:01:59,360 Speaker 1: it will be a b exciphoning problem sometime in l A. 39 00:01:59,800 --> 00:02:02,360 Speaker 1: But they will come and fill up your car while 40 00:02:02,400 --> 00:02:06,200 Speaker 1: you're at the game. Wait, will they drive it to 41 00:02:06,360 --> 00:02:09,600 Speaker 1: obviously a filling station or no, No, they bring the game, 42 00:02:10,560 --> 00:02:13,400 Speaker 1: so it's gonna be like like like a pit stop. 43 00:02:13,680 --> 00:02:17,200 Speaker 1: So they will come to your car and in a place. Listen, 44 00:02:17,639 --> 00:02:21,560 Speaker 1: in New York, lots of people take subway to Yankees games, 45 00:02:21,960 --> 00:02:25,880 Speaker 1: even Yankees mets. Fine, but in l A, everybody drives. 46 00:02:26,440 --> 00:02:29,120 Speaker 1: We know that it's a car culture. This is just 47 00:02:29,200 --> 00:02:32,440 Speaker 1: sort of an added value to that car culture. It's 48 00:02:32,480 --> 00:02:35,360 Speaker 1: a service that you can partaken if you want it. 49 00:02:35,360 --> 00:02:38,360 Speaker 1: It's a perfect stadium force. Sure. My one question is 50 00:02:38,360 --> 00:02:40,480 Speaker 1: how big is the markup on the gas if this 51 00:02:40,560 --> 00:02:43,440 Speaker 1: is like the rental car stop near the gas station? 52 00:02:43,520 --> 00:02:47,920 Speaker 1: Price it says Evan, it says no membership fees, and 53 00:02:47,960 --> 00:02:50,360 Speaker 1: I don't know the exact says good question, by the way, 54 00:02:50,360 --> 00:02:52,839 Speaker 1: because that's the one I want to know. Prices are 55 00:02:53,000 --> 00:02:56,440 Speaker 1: competitive to the gas stations in the area. Now, is 56 00:02:56,440 --> 00:02:59,680 Speaker 1: that a nickel competitive? Is that a quarter competitive per gallon? 57 00:03:00,200 --> 00:03:01,800 Speaker 1: I don't know. That's the big question, but you're right. 58 00:03:01,840 --> 00:03:06,080 Speaker 1: I mean, this is a service that not many people 59 00:03:06,720 --> 00:03:10,000 Speaker 1: Dodger Stadium are probably gonna use. But there's probably some 60 00:03:10,080 --> 00:03:12,640 Speaker 1: value for the Dodgers and doing something unique that some 61 00:03:13,360 --> 00:03:15,880 Speaker 1: percentage of people that drive one percent are gonna want 62 00:03:15,880 --> 00:03:18,600 Speaker 1: to partake in each each game and and there. I'd 63 00:03:18,600 --> 00:03:20,600 Speaker 1: love to see the calculus on you. And I love 64 00:03:20,680 --> 00:03:23,280 Speaker 1: the perk of if you have like a super parking section. 65 00:03:23,320 --> 00:03:25,520 Speaker 1: If you if you have a super you park for free. 66 00:03:25,720 --> 00:03:28,480 Speaker 1: Like we're a big stadium. Yeah, we're big on that. 67 00:03:28,600 --> 00:03:31,560 Speaker 1: But listen, just just a value add bar. People are 68 00:03:31,560 --> 00:03:34,680 Speaker 1: looking for value adds when they go to stadiums these days, 69 00:03:34,680 --> 00:03:38,360 Speaker 1: and ingress and egress anything that makes it easier. And 70 00:03:38,360 --> 00:03:40,480 Speaker 1: this is one of those oh, shoot ball game starts. 71 00:03:40,480 --> 00:03:42,119 Speaker 1: Not that Dodger fans have to be there on time, 72 00:03:42,240 --> 00:03:44,840 Speaker 1: no fense Dodger fans, yeah, exactly, Not that they have 73 00:03:44,840 --> 00:03:48,240 Speaker 1: to be there for the first pitch. Uh, but added value. Oh, 74 00:03:48,240 --> 00:03:49,880 Speaker 1: I don't have time to stop though there's a lot. 75 00:03:49,920 --> 00:03:52,400 Speaker 1: I don't feel like it. You know what, We'll just 76 00:03:52,400 --> 00:03:53,920 Speaker 1: go to the stadium and have it done there. That. 77 00:03:54,080 --> 00:03:57,040 Speaker 1: I think it is a great idea and it's I 78 00:03:57,160 --> 00:03:59,080 Speaker 1: think more people are going to use it than you think. 79 00:03:59,160 --> 00:04:02,920 Speaker 1: They should wash your car too, that's next. Uh, every 80 00:04:03,000 --> 00:04:07,040 Speaker 1: high school fundraiser should be in the parking lot of stadiums. Uh, 81 00:04:07,080 --> 00:04:10,000 Speaker 1: this one is a lot more serious. The Portuguese clubs 82 00:04:10,320 --> 00:04:13,720 Speaker 1: have been rated on suspicion of tax fraud. And we're 83 00:04:13,720 --> 00:04:17,120 Speaker 1: talking about several soccer clubs involved in several I mean 84 00:04:17,160 --> 00:04:19,279 Speaker 1: the big name I mean even if you're a casual 85 00:04:19,360 --> 00:04:23,279 Speaker 1: soccer fan, you think of Portugal, you think of Benfica, Porto. 86 00:04:23,360 --> 00:04:26,039 Speaker 1: I mean, these are big name clubs. And here we 87 00:04:26,080 --> 00:04:29,520 Speaker 1: go again with soccer. Evan, It's like if it's if 88 00:04:29,560 --> 00:04:32,440 Speaker 1: it's not FIFA, here we are now at the club 89 00:04:32,520 --> 00:04:35,800 Speaker 1: level in Portugal. Um, it seems like a payments due 90 00:04:35,839 --> 00:04:39,159 Speaker 1: to the Portuguese tax office were averted somewhere else. Included 91 00:04:39,200 --> 00:04:43,039 Speaker 1: in the raid was Je Mendez, who's a Ronaldo's agent. 92 00:04:43,600 --> 00:04:46,760 Speaker 1: So we're talking top teams, top names, another black eye 93 00:04:46,760 --> 00:04:49,120 Speaker 1: for soccer. Yeah, this is a wide reaching one. Seventies 94 00:04:49,120 --> 00:04:51,960 Speaker 1: six searches carried out, a hundred eighty police officers, a 95 00:04:52,000 --> 00:04:55,479 Speaker 1: hundred and one tax expectors. Uh, sixteen magistrates took part 96 00:04:55,480 --> 00:04:58,359 Speaker 1: in the operation. And you mentioned Cristiano Ronaldo, you know, 97 00:04:58,400 --> 00:05:00,760 Speaker 1: don't forget, you know, was it fast year? Two years 98 00:05:00,800 --> 00:05:04,720 Speaker 1: ago he was fined twenty one million dollars for taxes, 99 00:05:04,720 --> 00:05:08,080 Speaker 1: aud he avoided going to jail by by taking the 100 00:05:08,080 --> 00:05:12,520 Speaker 1: sentence the whole. You know, it's no secret that, you know, 101 00:05:12,720 --> 00:05:15,120 Speaker 1: a lot of these big soccer stars, Lionel Messi also 102 00:05:15,120 --> 00:05:18,320 Speaker 1: had had had tax concerns as well. Um. But I'm, 103 00:05:18,360 --> 00:05:20,320 Speaker 1: you know, certainly interested to see where where this one 104 00:05:20,360 --> 00:05:22,200 Speaker 1: shakes out, because it certainly seems like this is a 105 00:05:22,320 --> 00:05:25,159 Speaker 1: this is a wide reaching one. Now, let's talk about 106 00:05:25,240 --> 00:05:30,520 Speaker 1: the Sloan Sports Analytics Conference, because that has arrived. Yeah, 107 00:05:30,560 --> 00:05:34,920 Speaker 1: every year, our friend Daryl Morey and Jessica Gelman from 108 00:05:34,960 --> 00:05:38,280 Speaker 1: Kraft Analytics, they started this, uh forgive me at this point, 109 00:05:38,360 --> 00:05:41,680 Speaker 1: I don't know how many years ago. Um. It brings 110 00:05:41,760 --> 00:05:45,400 Speaker 1: together some of the biggest names in sports, and it's 111 00:05:45,400 --> 00:05:48,120 Speaker 1: actually starting to branch outside of sports. They're just big 112 00:05:48,200 --> 00:05:53,120 Speaker 1: names and they have panel discussions and there are papers, 113 00:05:53,200 --> 00:05:57,039 Speaker 1: academic papers, competitions. Uh. There's like a job fair atmosphere 114 00:05:57,120 --> 00:06:01,840 Speaker 1: for for younger for students. Uh. Um. But certainly, the 115 00:06:01,880 --> 00:06:07,000 Speaker 1: analytics revolution is not dead. If anything else, it's only intensifying. 116 00:06:08,040 --> 00:06:11,080 Speaker 1: And this is the biggest example of that. And I 117 00:06:11,160 --> 00:06:14,520 Speaker 1: certainly wanted to at least note because it is in 118 00:06:14,560 --> 00:06:17,880 Speaker 1: the analytics world, it is the biggest conference of the year, 119 00:06:18,200 --> 00:06:21,320 Speaker 1: and it's always fun to see who's coming up with 120 00:06:21,400 --> 00:06:23,719 Speaker 1: what next. Yeah, and I think we're we're kind of 121 00:06:23,880 --> 00:06:27,680 Speaker 1: entering what I think is this next phase of analytics 122 00:06:28,520 --> 00:06:31,719 Speaker 1: where the technology on players is getting better. Right, So, 123 00:06:31,760 --> 00:06:34,200 Speaker 1: if you think about the major sports leagues, the NFL 124 00:06:34,240 --> 00:06:37,320 Speaker 1: has chips in every player's shoulder pads, the NHL has 125 00:06:37,320 --> 00:06:40,480 Speaker 1: censors on jerseys and chips in the puck. NBA has 126 00:06:40,520 --> 00:06:42,680 Speaker 1: a deal with second spectrum cameras in every arena that 127 00:06:42,720 --> 00:06:44,719 Speaker 1: tracks every player's movement, where they are and where the 128 00:06:44,720 --> 00:06:47,479 Speaker 1: ball is. MLS just signed the similar deal cameras in 129 00:06:47,480 --> 00:06:49,840 Speaker 1: every stadium tracks player movement, tracks where the ball is. 130 00:06:50,600 --> 00:06:53,280 Speaker 1: If you'd gone to the original Sloan Conference and said, guys, 131 00:06:53,480 --> 00:06:58,200 Speaker 1: six people will Simmons by the time you hit all 132 00:06:58,200 --> 00:07:00,000 Speaker 1: these leagues are going to have this amount of day 133 00:07:00,080 --> 00:07:02,000 Speaker 1: to for you to pour over, I think they would 134 00:07:02,000 --> 00:07:04,479 Speaker 1: have been giddy with excitement. So we're kind of entering 135 00:07:04,520 --> 00:07:07,080 Speaker 1: this like new phase where you're right, Scott, the the 136 00:07:07,120 --> 00:07:09,880 Speaker 1: analytics revolution is not dead, but you know, teams are 137 00:07:09,920 --> 00:07:13,200 Speaker 1: now have so much more information to go off. Well, really, 138 00:07:13,240 --> 00:07:15,720 Speaker 1: this what it will separate, you know, Evan and it's 139 00:07:15,760 --> 00:07:20,320 Speaker 1: really interesting to see when these teams are given this 140 00:07:20,600 --> 00:07:24,960 Speaker 1: vast wealth of data, the key is what do I 141 00:07:25,120 --> 00:07:28,080 Speaker 1: do with it? It's great to have it, but if 142 00:07:28,120 --> 00:07:31,920 Speaker 1: you don't know what to do with it, then it's useless. 143 00:07:32,040 --> 00:07:34,680 Speaker 1: And there's also the let's see how it shakes out 144 00:07:34,720 --> 00:07:37,760 Speaker 1: in the competitive advantage world of what do we value? 145 00:07:38,320 --> 00:07:41,440 Speaker 1: You had the Oakland a's valued on base percentage, Maybe 146 00:07:41,520 --> 00:07:45,040 Speaker 1: some other team values something else even more, some team 147 00:07:45,120 --> 00:07:48,560 Speaker 1: might value banging on the garbage can. And by the 148 00:07:48,560 --> 00:07:51,480 Speaker 1: way they combined, Jeff Luna was one of the biggest 149 00:07:51,480 --> 00:07:56,040 Speaker 1: analytics guys with the banging on the garbage can. So uh, 150 00:07:56,080 --> 00:08:01,760 Speaker 1: it's just a really interesting group of people who get 151 00:08:01,760 --> 00:08:10,080 Speaker 1: together from by the way, commissioners, owners, players, executives, fans, CEOs, 152 00:08:10,320 --> 00:08:14,320 Speaker 1: you bring together, politicians, Ken Ken Jennings, Jeopardy winner, you 153 00:08:14,400 --> 00:08:19,560 Speaker 1: bring together this this wide array of people just to 154 00:08:19,680 --> 00:08:22,720 Speaker 1: really talk about what can we do, how do we 155 00:08:22,760 --> 00:08:25,360 Speaker 1: make things better? I'm sorry I was gonna say that 156 00:08:25,480 --> 00:08:28,600 Speaker 1: to that point, Scott. It ties into the business sports 157 00:08:28,640 --> 00:08:30,320 Speaker 1: in so many ways. But you know, when you think 158 00:08:30,320 --> 00:08:32,760 Speaker 1: about Billy bean and and the genius that he kind 159 00:08:32,800 --> 00:08:35,600 Speaker 1: of recognized so early on what he did was He 160 00:08:35,640 --> 00:08:39,040 Speaker 1: tailored his analytics strategy to his business strategy. Right. He 161 00:08:39,120 --> 00:08:41,720 Speaker 1: knew he couldn't spend like the New York Yankees, so 162 00:08:41,920 --> 00:08:44,160 Speaker 1: given that money was tight and they couldn't afford the 163 00:08:44,160 --> 00:08:47,920 Speaker 1: best players, he built the analytics tools to devise what's 164 00:08:47,960 --> 00:08:50,200 Speaker 1: the best way for us to approach this on base percentage? 165 00:08:51,280 --> 00:08:54,200 Speaker 1: Interesting that, like, what's the object of the game in baseball? 166 00:08:54,240 --> 00:08:57,040 Speaker 1: What's the whole object is to get on base and 167 00:08:57,200 --> 00:08:59,760 Speaker 1: come around and go home. Right, So you would think 168 00:08:59,760 --> 00:09:02,360 Speaker 1: it rather easy to say I value the people who 169 00:09:02,360 --> 00:09:05,160 Speaker 1: get on base a lot, but that it wasn't. It 170 00:09:05,200 --> 00:09:07,640 Speaker 1: was him that was the big boppers, the home runs 171 00:09:07,720 --> 00:09:11,199 Speaker 1: that he didn't want people swinging and missing. He liked 172 00:09:11,200 --> 00:09:15,280 Speaker 1: people who walked, who took pitches, and we see what, No, 173 00:09:15,320 --> 00:09:17,280 Speaker 1: they didn't win the World Series, but they came awfully 174 00:09:17,320 --> 00:09:18,720 Speaker 1: closed for a team with the kind of the mediocre 175 00:09:18,760 --> 00:09:20,920 Speaker 1: payroll that they And and now that feels obvious and 176 00:09:21,200 --> 00:09:23,360 Speaker 1: kind of the big thing now in baseball swing plane, right, 177 00:09:23,400 --> 00:09:24,800 Speaker 1: which I think if you were told that to Billy 178 00:09:24,840 --> 00:09:27,120 Speaker 1: Bean ten years and be like, well I don't really 179 00:09:27,160 --> 00:09:29,880 Speaker 1: understand what you know. So and soon swing plane and 180 00:09:30,240 --> 00:09:34,240 Speaker 1: spin rate will be coming you know everybody that you 181 00:09:34,280 --> 00:09:36,160 Speaker 1: want to know the plane at which the batter's bat 182 00:09:36,160 --> 00:09:38,280 Speaker 1: travels through the through the strike zone, and then there'll 183 00:09:38,320 --> 00:09:40,199 Speaker 1: be something else. So so no question, it's just gonna 184 00:09:40,400 --> 00:09:43,000 Speaker 1: keep evolving upwards. What piques my interest, but before we 185 00:09:43,040 --> 00:09:46,559 Speaker 1: have to move on, is that I want analytics involved 186 00:09:46,600 --> 00:09:49,200 Speaker 1: in so I can do my my homework, so I 187 00:09:49,200 --> 00:09:52,880 Speaker 1: can handicap any team that I want to try to 188 00:09:52,960 --> 00:09:55,400 Speaker 1: make the best bet that I can on that team. 189 00:09:55,440 --> 00:09:58,160 Speaker 1: I'm and I'm just curious if they have a service 190 00:09:58,200 --> 00:10:02,800 Speaker 1: for individuals like that. Well Action Network Pati Patrick Key 191 00:10:02,800 --> 00:10:05,480 Speaker 1: in front of the program. Sure, I mean certainly the 192 00:10:05,520 --> 00:10:08,439 Speaker 1: analytics and the data is available these days. Two fans 193 00:10:08,480 --> 00:10:11,040 Speaker 1: who wish to search it out. And once again, maybe 194 00:10:11,040 --> 00:10:15,000 Speaker 1: you're smarter than everybody else. Turn my head to highly 195 00:10:15,040 --> 00:10:18,200 Speaker 1: doubt it. Maybe you're smarter than everybody else and you'll 196 00:10:18,320 --> 00:10:20,839 Speaker 1: value something and you'll put it in your little algorithm 197 00:10:20,880 --> 00:10:24,760 Speaker 1: and you'll win all this money. Maybe maybe not, but 198 00:10:25,400 --> 00:10:27,920 Speaker 1: the data is there. That that's the point. The data 199 00:10:27,960 --> 00:10:29,640 Speaker 1: is there. Now it's up to the folks to realize 200 00:10:29,720 --> 00:10:32,000 Speaker 1: how do we utilize it's smarter than anybody else. Now 201 00:10:32,080 --> 00:10:35,000 Speaker 1: let's get to this week's interview with Richard Petty, former 202 00:10:35,080 --> 00:10:38,480 Speaker 1: president and CEO of Maple Leaf Sports and Entertainment, the 203 00:10:38,480 --> 00:10:42,199 Speaker 1: parent company of the Toronto Raptors and Maple Leaves. Richard, 204 00:10:42,280 --> 00:10:45,280 Speaker 1: let me start with this because everything, whether it's in 205 00:10:45,360 --> 00:10:47,959 Speaker 1: the office, out of the office, but clearly in sports, 206 00:10:48,000 --> 00:10:53,240 Speaker 1: people are talking about the coronavirus. And I imagine that 207 00:10:53,360 --> 00:10:56,560 Speaker 1: this has you with some flashbacks because you've lived through 208 00:10:56,600 --> 00:10:58,840 Speaker 1: this already. Well, it lived through this one. I lived 209 00:10:58,840 --> 00:11:01,600 Speaker 1: through one that was even much are dangerous. You know 210 00:11:01,679 --> 00:11:04,400 Speaker 1: that this virus kills at the rate of about three 211 00:11:04,440 --> 00:11:07,719 Speaker 1: point four percent when we dealt with the Stars, and 212 00:11:07,920 --> 00:11:11,200 Speaker 1: two thousand and three in Toronto it at a kill 213 00:11:11,280 --> 00:11:14,080 Speaker 1: rate of over nine percent, but not near as many 214 00:11:14,120 --> 00:11:17,920 Speaker 1: people got it. I mean this, this virus has already 215 00:11:18,200 --> 00:11:21,880 Speaker 1: way past the number of infected people than Stars. But 216 00:11:21,920 --> 00:11:24,800 Speaker 1: it was a pretty major thing in Toronto and and 217 00:11:25,000 --> 00:11:26,679 Speaker 1: was very top of mind with me back in two 218 00:11:26,720 --> 00:11:29,400 Speaker 1: thousands and three. Now you had it going on during 219 00:11:29,400 --> 00:11:33,600 Speaker 1: a playoff round. Do you remember talk of cancelation or 220 00:11:33,640 --> 00:11:38,320 Speaker 1: talk of playing games without fans and what was your preparation, like, well, 221 00:11:38,600 --> 00:11:41,160 Speaker 1: it really hit Toronto hard. I mean well, I think 222 00:11:41,240 --> 00:11:44,559 Speaker 1: over forty people died in Toronto, and a number of 223 00:11:44,600 --> 00:11:47,080 Speaker 1: them were caregivers like doctors and nurses. It was it 224 00:11:47,160 --> 00:11:50,319 Speaker 1: was pretty horrific. Um. I don't remember ever having a 225 00:11:50,360 --> 00:11:53,360 Speaker 1: discussion with Gary Batman about it. It did happen in 226 00:11:53,400 --> 00:11:56,120 Speaker 1: the playoff series with Philadelphia. It was a series that 227 00:11:56,200 --> 00:11:59,880 Speaker 1: went on seven games, and I was pretty anxious. I mean, 228 00:12:00,080 --> 00:12:02,880 Speaker 1: had nineteen thousand people in the building. They're all about 229 00:12:03,640 --> 00:12:06,839 Speaker 1: a parts um and I thought the fear was very 230 00:12:06,920 --> 00:12:09,319 Speaker 1: much there. But I don't ever recall so it was 231 00:12:09,400 --> 00:12:11,439 Speaker 1: the fear, and I can't tell you that we did 232 00:12:11,480 --> 00:12:14,680 Speaker 1: anything about it. We can talk about what they're doing 233 00:12:14,800 --> 00:12:18,559 Speaker 1: now for this virus, but I don't remember doing anything 234 00:12:18,760 --> 00:12:21,600 Speaker 1: other than I had a lot of banks that, you know, 235 00:12:21,679 --> 00:12:23,440 Speaker 1: could we play it? Would we have to play it 236 00:12:23,480 --> 00:12:26,240 Speaker 1: in front of an empty building. The Raptors were not 237 00:12:26,320 --> 00:12:28,400 Speaker 1: in the playoffs that year. I wasn't worried about that. 238 00:12:28,720 --> 00:12:31,840 Speaker 1: I was worried they weren't in the playoffs, but not us. 239 00:12:31,960 --> 00:12:35,400 Speaker 1: But very much the lease, Richard, when you know, as 240 00:12:35,440 --> 00:12:38,120 Speaker 1: we record this right now, really the only major disruption 241 00:12:38,480 --> 00:12:42,320 Speaker 1: so far to the North American sports calendar has been 242 00:12:42,360 --> 00:12:44,719 Speaker 1: a few college basketball teams that refused to travel or 243 00:12:44,760 --> 00:12:47,840 Speaker 1: refuse to host. I imagine that will change dramatically, you know, 244 00:12:47,840 --> 00:12:50,040 Speaker 1: in the coming days and weeks. But can you put 245 00:12:50,120 --> 00:12:53,360 Speaker 1: us in the mind of a stadium operator right now, 246 00:12:53,400 --> 00:12:55,400 Speaker 1: if you if you have an NHL or an NBA 247 00:12:55,480 --> 00:12:58,040 Speaker 1: team or both kind of what are you starting to 248 00:12:58,120 --> 00:13:01,440 Speaker 1: think about about the possible that you may actually have 249 00:13:01,480 --> 00:13:04,560 Speaker 1: some serious disruptions either to the games themselves or whether 250 00:13:04,760 --> 00:13:07,360 Speaker 1: you're inviting fans into the games. Well, I think that 251 00:13:07,360 --> 00:13:09,719 Speaker 1: that talk is going at a very high level. I mean, 252 00:13:10,440 --> 00:13:13,840 Speaker 1: both commissioners of the NBA and the nature smart smart guys. 253 00:13:14,600 --> 00:13:16,240 Speaker 1: They might not want to talk about it with you. 254 00:13:16,880 --> 00:13:19,240 Speaker 1: I wouldn't be surprised if that's the case. I can 255 00:13:19,280 --> 00:13:22,680 Speaker 1: confirm that Richard no, no arena operator right now wants 256 00:13:22,720 --> 00:13:26,080 Speaker 1: to talk about with anybody. Uh. And they might have 257 00:13:26,160 --> 00:13:28,400 Speaker 1: gag orders, but they might just be prudent and not 258 00:13:28,480 --> 00:13:32,080 Speaker 1: choosing to talk themselves. So no doubt that you've already 259 00:13:32,080 --> 00:13:34,360 Speaker 1: seen the NBA. Adam Silver has come up with some 260 00:13:34,400 --> 00:13:36,600 Speaker 1: stuff like you can do fifth pumps now, but you 261 00:13:36,600 --> 00:13:39,439 Speaker 1: can't do high five. So um. You know, in their 262 00:13:39,520 --> 00:13:42,600 Speaker 1: typical fashion, the NBA is so on top of everything, 263 00:13:42,920 --> 00:13:45,720 Speaker 1: but Gary will be on as well. So I imagine 264 00:13:45,720 --> 00:13:48,480 Speaker 1: the discussions will being led by them because you know, 265 00:13:48,559 --> 00:13:52,920 Speaker 1: we have something like twenty cases in Ontario right now 266 00:13:53,280 --> 00:13:56,000 Speaker 1: that you've got more cases, you've got guests in Washington State. 267 00:13:56,800 --> 00:13:58,840 Speaker 1: I think you just had one in California. It is 268 00:13:58,920 --> 00:14:02,079 Speaker 1: moving and is nothing. You know, closing borders is not 269 00:14:02,120 --> 00:14:05,480 Speaker 1: going to stop this. This virus does not adhere to borders, 270 00:14:05,960 --> 00:14:08,679 Speaker 1: and it's coming. So they've got to be chatting about 271 00:14:08,679 --> 00:14:13,360 Speaker 1: it and thinking about what they do. So the individual 272 00:14:13,480 --> 00:14:18,360 Speaker 1: franchises are worried. I don't know. I understand that the 273 00:14:18,440 --> 00:14:21,960 Speaker 1: New Scotia Bank Arena, what's called the Canada Center has 274 00:14:22,000 --> 00:14:25,680 Speaker 1: got sanitizers there. Whether that was their own initiative, I 275 00:14:25,720 --> 00:14:27,640 Speaker 1: don't know, or is that coming from the league. But 276 00:14:27,720 --> 00:14:29,720 Speaker 1: you're going to see more. You're definitely gonna seem more 277 00:14:29,760 --> 00:14:32,680 Speaker 1: because it's coming. Well, what's sad about it is and 278 00:14:32,760 --> 00:14:36,760 Speaker 1: you mentioned about Adam Silver. The NBA also said to 279 00:14:37,240 --> 00:14:42,760 Speaker 1: the players do not take any pens or any jerseys 280 00:14:42,920 --> 00:14:47,480 Speaker 1: or any balls to be signed. Uh so you can 281 00:14:47,520 --> 00:14:51,640 Speaker 1: avoid the coronavirus. And unfortunately the fans are going to 282 00:14:51,720 --> 00:14:53,920 Speaker 1: suffer from this. Yeah, it's that and the fans of 283 00:14:53,920 --> 00:14:56,840 Speaker 1: the ultimate suffer, you know, the nineteen or twenty and 284 00:14:56,840 --> 00:14:59,000 Speaker 1: I want to see it live or you know, if 285 00:14:59,040 --> 00:15:00,920 Speaker 1: it goes to the extreme team, they're not going to 286 00:15:01,000 --> 00:15:04,600 Speaker 1: see it in person. And yes, television audiences and social 287 00:15:04,640 --> 00:15:07,560 Speaker 1: media audiences will decline, but you know that still be 288 00:15:07,560 --> 00:15:09,920 Speaker 1: the ultimate killer is that you know it will be 289 00:15:09,920 --> 00:15:13,040 Speaker 1: closed off to fans. I mean I understand that. I 290 00:15:13,040 --> 00:15:15,800 Speaker 1: think it's Italy now is playing and playing football in 291 00:15:15,960 --> 00:15:19,520 Speaker 1: empty stadium all their sporting events and it no no fans. Yeah, 292 00:15:19,800 --> 00:15:21,880 Speaker 1: same with France and Switzerland to a to a degree 293 00:15:21,880 --> 00:15:24,480 Speaker 1: as well. Richard. Let's talk about the business implications here. 294 00:15:24,520 --> 00:15:27,440 Speaker 1: If you are an NBA team and you have to 295 00:15:27,480 --> 00:15:32,040 Speaker 1: play let's say three home games with no fans, how 296 00:15:32,120 --> 00:15:35,240 Speaker 1: much does that affect your bottom line? How much does 297 00:15:35,280 --> 00:15:37,560 Speaker 1: that change kind of the entire outlook for the full 298 00:15:37,600 --> 00:15:41,160 Speaker 1: season business wise? If suddenly you know you have you 299 00:15:41,200 --> 00:15:44,200 Speaker 1: have disruptions in that way. Before I get into the numbers, 300 00:15:44,200 --> 00:15:46,520 Speaker 1: because my numbers will be a little old, and I 301 00:15:46,600 --> 00:15:48,560 Speaker 1: think I can take a shot at that, I'll tell 302 00:15:48,600 --> 00:15:52,520 Speaker 1: you one business related thing. So when stars, what's happening? Um? 303 00:15:52,560 --> 00:15:55,760 Speaker 1: My chief financial officer and myself were on a road 304 00:15:55,800 --> 00:15:59,760 Speaker 1: tour to raise hundreds of million dollars of debt on 305 00:16:00,120 --> 00:16:05,640 Speaker 1: MLSC and UM. We were presenting to the New York 306 00:16:05,760 --> 00:16:10,520 Speaker 1: State Teachers UM group, not not the ones who owned 307 00:16:10,640 --> 00:16:14,040 Speaker 1: our company, but the New York group, and we flew 308 00:16:14,080 --> 00:16:16,520 Speaker 1: into New York to make a financial presentation to them 309 00:16:16,560 --> 00:16:18,320 Speaker 1: one and when we got there, they didn't want to 310 00:16:18,360 --> 00:16:20,560 Speaker 1: see us because they're worried about it. So it was 311 00:16:20,600 --> 00:16:24,080 Speaker 1: affecting the business side. Now we talked him into seeing us, 312 00:16:24,080 --> 00:16:27,480 Speaker 1: but that's how it was starting to affect back then. 313 00:16:27,720 --> 00:16:31,080 Speaker 1: So it will effect business more than hot dogs and 314 00:16:31,120 --> 00:16:35,680 Speaker 1: ticket revenue, just in so many ways. I mean, just 315 00:16:35,760 --> 00:16:38,080 Speaker 1: so many ways. It's almost mind boggling to think of 316 00:16:38,120 --> 00:16:42,120 Speaker 1: how it's gonna permeate through everything. But the financials on 317 00:16:42,240 --> 00:16:45,160 Speaker 1: the thing, well, there's the gates. Now in playoffs, the 318 00:16:45,240 --> 00:16:48,000 Speaker 1: league's get a big whack of the gate, but there 319 00:16:48,080 --> 00:16:51,160 Speaker 1: still multimillion dollars with a gate. I mean, what the 320 00:16:51,240 --> 00:16:54,680 Speaker 1: Raptors play last year, they played all four rounds, they 321 00:16:54,680 --> 00:16:57,680 Speaker 1: brought in a lot of money. And then there's per caps. 322 00:16:57,800 --> 00:17:00,720 Speaker 1: Per caps always increase at that time, and you're making 323 00:17:00,720 --> 00:17:03,440 Speaker 1: a margin on your per caps, and it's easy to 324 00:17:03,480 --> 00:17:08,960 Speaker 1: imagine per caps. You know, sponsors might have a deal 325 00:17:09,560 --> 00:17:12,440 Speaker 1: that they they pay extra for that. I don't know. 326 00:17:13,160 --> 00:17:16,399 Speaker 1: We do know that ticket prices jump dramatically in the PLAFF. 327 00:17:16,480 --> 00:17:18,520 Speaker 1: So even though the gate of the Raptors might be 328 00:17:18,560 --> 00:17:21,200 Speaker 1: two million dollars a year, it's probably jumped to three 329 00:17:21,359 --> 00:17:24,399 Speaker 1: three and a half million. Uh, there's t shirt sales, 330 00:17:24,800 --> 00:17:27,760 Speaker 1: so all in all it can be huge, just huge 331 00:17:27,880 --> 00:17:30,240 Speaker 1: that you know already the NBA took a beating with 332 00:17:30,280 --> 00:17:35,240 Speaker 1: the whole Chinese thing and it's effecting the salary cap 333 00:17:35,359 --> 00:17:38,919 Speaker 1: for next year. Um, this could be almost as materialism 334 00:17:38,960 --> 00:17:41,399 Speaker 1: maybe more. Can you put a total number on the 335 00:17:41,400 --> 00:17:43,640 Speaker 1: if if we're looking at the you know, your per 336 00:17:43,680 --> 00:17:46,280 Speaker 1: cap for games in the playoffs, plus the plus the 337 00:17:46,320 --> 00:17:49,720 Speaker 1: gate that you're talking about there. And I've been retired 338 00:17:49,720 --> 00:17:53,200 Speaker 1: for eight years and and my knowledge of the financials 339 00:17:53,280 --> 00:17:55,880 Speaker 1: of franchise aren't near as good a lot of money. 340 00:17:56,000 --> 00:17:59,159 Speaker 1: I can tell you this, Richard, that the margin charged 341 00:17:59,200 --> 00:18:02,880 Speaker 1: by pro sports teams now on sodas and foam fingers 342 00:18:02,920 --> 00:18:06,680 Speaker 1: and French fries is still very high. Oh yeah, absolutely, 343 00:18:06,720 --> 00:18:09,560 Speaker 1: it's uh, you know, like you take cinnamons today, they 344 00:18:09,560 --> 00:18:11,399 Speaker 1: don't make money on the movies. They make money on 345 00:18:11,440 --> 00:18:14,520 Speaker 1: the hot docks and popcorn so we're not at that 346 00:18:14,640 --> 00:18:17,639 Speaker 1: level in pro sports. And it's not just need that, 347 00:18:17,760 --> 00:18:20,800 Speaker 1: it's uh, you know, we were when we launched Toronto FC. 348 00:18:21,080 --> 00:18:24,359 Speaker 1: We were blown away by how much we are making 349 00:18:24,680 --> 00:18:28,480 Speaker 1: per caps because soccer or football fans love to drink beer. 350 00:18:29,480 --> 00:18:33,800 Speaker 1: We're talking about the virus and the possible effect on sports. 351 00:18:34,320 --> 00:18:37,439 Speaker 1: Do you have any guests, What would your conversations be, like? 352 00:18:37,480 --> 00:18:39,720 Speaker 1: Who do you talk to? Do you talk to local 353 00:18:39,720 --> 00:18:42,320 Speaker 1: health officials? Do you wait for a national are you 354 00:18:42,400 --> 00:18:45,600 Speaker 1: talking to the league? What would you do? How would 355 00:18:45,640 --> 00:18:48,320 Speaker 1: you proceed if we were at a spot now where 356 00:18:48,400 --> 00:18:52,040 Speaker 1: let's say California has declared state of emergency. Of course 357 00:18:52,080 --> 00:18:55,200 Speaker 1: Staples Center has two teams. They're saying they're going to 358 00:18:55,280 --> 00:18:57,440 Speaker 1: continue to play right now. However, in other parts of 359 00:18:57,440 --> 00:19:00,520 Speaker 1: the world, does we've discussed, they're saying no large gather. Well, 360 00:19:00,560 --> 00:19:03,080 Speaker 1: in Toronto, we would, you know, going through Stars and 361 00:19:03,119 --> 00:19:06,240 Speaker 1: it was it was a mess. And and we we, 362 00:19:06,520 --> 00:19:10,000 Speaker 1: when I say we, the the health professionals learned a 363 00:19:10,040 --> 00:19:13,520 Speaker 1: lot through Stars. So we've got an excellent health system 364 00:19:13,600 --> 00:19:16,480 Speaker 1: unlike your country. We listened to the scientists and the 365 00:19:16,520 --> 00:19:19,840 Speaker 1: hearts and the health experts. So our first call would 366 00:19:19,840 --> 00:19:22,919 Speaker 1: be to them, and they would they would come up 367 00:19:22,960 --> 00:19:24,680 Speaker 1: with a lot of ideas we would go to them. 368 00:19:25,119 --> 00:19:27,840 Speaker 1: Would we go to them, I think to help prepare 369 00:19:27,920 --> 00:19:31,000 Speaker 1: to for a discussion with the leagues which is going 370 00:19:31,040 --> 00:19:33,159 Speaker 1: to come in and there might be things unique to 371 00:19:33,240 --> 00:19:36,680 Speaker 1: Canada based on their experience and learning that we would 372 00:19:36,720 --> 00:19:39,679 Speaker 1: offer to the league saying, you know, this is our 373 00:19:39,720 --> 00:19:42,880 Speaker 1: experience and this is what our experts are telling us. 374 00:19:42,920 --> 00:19:46,200 Speaker 1: If we had such great relationships with those people, that 375 00:19:46,520 --> 00:19:48,800 Speaker 1: we might invite them to the call, if if missions 376 00:19:48,800 --> 00:19:51,560 Speaker 1: were open to it. So we would definitely be up 377 00:19:51,600 --> 00:19:54,280 Speaker 1: to speed on what our local experts were saying. But 378 00:19:54,400 --> 00:19:57,639 Speaker 1: then again, both leagues are sophisticated. They're going to be 379 00:19:57,680 --> 00:20:01,400 Speaker 1: calling an experts and you know, I think there's gonna 380 00:20:01,400 --> 00:20:05,200 Speaker 1: be thirty thirty teams in the NBA and a lack 381 00:20:05,240 --> 00:20:08,639 Speaker 1: of teams in the NHL and the same call. Um. 382 00:20:08,680 --> 00:20:10,680 Speaker 1: I don't imagine that we're gonna be flying people into 383 00:20:10,680 --> 00:20:13,800 Speaker 1: New York. Um that the flights are going to start 384 00:20:13,880 --> 00:20:17,880 Speaker 1: taking the eat and having no shows. So imagine it's 385 00:20:17,880 --> 00:20:19,720 Speaker 1: gonna be a confidence call and there's gonna be a 386 00:20:19,760 --> 00:20:23,280 Speaker 1: lot of people listening and and you know, follow up 387 00:20:23,320 --> 00:20:26,359 Speaker 1: documents and procedures on what to do. I asked this 388 00:20:26,440 --> 00:20:29,240 Speaker 1: question of the n c A folks earlier this week. 389 00:20:29,400 --> 00:20:31,600 Speaker 1: But you know, it seems like a very easy You know, 390 00:20:31,640 --> 00:20:34,360 Speaker 1: if if the government comes out and says no gatherings 391 00:20:34,400 --> 00:20:37,280 Speaker 1: in California have more than a thousand people, that's very easy, right, 392 00:20:37,280 --> 00:20:40,240 Speaker 1: You're not You're not hosting UH fans at a Clippers 393 00:20:40,240 --> 00:20:42,919 Speaker 1: and Lakers games. It seems more interesting to me in 394 00:20:42,960 --> 00:20:47,080 Speaker 1: this middle ground where the government is still allowing these 395 00:20:47,080 --> 00:20:49,880 Speaker 1: events to take place. But maybe teams and leagues need 396 00:20:49,960 --> 00:20:52,480 Speaker 1: to decide on their own do we want to host 397 00:20:52,520 --> 00:20:54,639 Speaker 1: these or not. Do you think that there are teams 398 00:20:54,640 --> 00:20:56,239 Speaker 1: out there that are that are may be willing to 399 00:20:56,280 --> 00:20:59,280 Speaker 1: go further than what the CDC or what the government 400 00:20:59,359 --> 00:21:01,879 Speaker 1: organizations are suggesting, or do you think they are fully 401 00:21:01,960 --> 00:21:05,840 Speaker 1: taking their cues directly from what you know government health 402 00:21:05,840 --> 00:21:09,520 Speaker 1: officials are saying, Well, you hit it right in the notes. 403 00:21:09,640 --> 00:21:13,240 Speaker 1: If the government says closed down, you close down. It's 404 00:21:13,280 --> 00:21:16,240 Speaker 1: that gray area in between, and then you know that 405 00:21:16,720 --> 00:21:17,960 Speaker 1: you know, I always say a value, it is not 406 00:21:18,000 --> 00:21:19,639 Speaker 1: a value until it cost you something. And so if 407 00:21:19,640 --> 00:21:22,000 Speaker 1: you've got a value saying listen, we want healthy entertainment 408 00:21:22,720 --> 00:21:26,080 Speaker 1: and you know, a safe place to host our games, 409 00:21:26,440 --> 00:21:28,320 Speaker 1: and you believe in that value, and you go, well, 410 00:21:28,760 --> 00:21:31,600 Speaker 1: we're not sure it's going to be safe, so you know, 411 00:21:31,760 --> 00:21:34,359 Speaker 1: to adhere to our values, to be true to our value, 412 00:21:34,640 --> 00:21:36,639 Speaker 1: we have to shut down. And then that's where the 413 00:21:36,720 --> 00:21:39,359 Speaker 1: value cost you something. The government says you can post 414 00:21:39,400 --> 00:21:43,040 Speaker 1: your events, but your value says, no, we shouldn't be 415 00:21:43,080 --> 00:21:46,440 Speaker 1: doing this, and ma'am, we're gonna have to forego millions 416 00:21:46,440 --> 00:21:49,320 Speaker 1: of dollars. So that's a real dilemma because they're going 417 00:21:49,359 --> 00:21:52,240 Speaker 1: to be criticized. There will be people in the communities 418 00:21:52,280 --> 00:21:54,760 Speaker 1: that says you should be closed down. It's gonna be 419 00:21:54,880 --> 00:21:58,320 Speaker 1: all over Twitter and social media. And they almost can't 420 00:21:58,400 --> 00:22:02,280 Speaker 1: win on that because listen, the you know, yes, the 421 00:22:02,320 --> 00:22:05,640 Speaker 1: money is a driving force, but channel these are people 422 00:22:05,680 --> 00:22:08,480 Speaker 1: who live in the community of families and friends and 423 00:22:08,560 --> 00:22:11,960 Speaker 1: they're worried as well. And you know they're probably even 424 00:22:12,040 --> 00:22:13,719 Speaker 1: personally worried do I want to be in the building 425 00:22:14,280 --> 00:22:17,800 Speaker 1: and interacting with fans. So it's going to be a 426 00:22:17,880 --> 00:22:23,479 Speaker 1: real dilemma for them. It really a difficult you almost 427 00:22:23,520 --> 00:22:25,479 Speaker 1: wanted you want to lead to make the decision for 428 00:22:25,520 --> 00:22:29,440 Speaker 1: you what kind of insurance does a team or the 429 00:22:29,680 --> 00:22:33,639 Speaker 1: group that owns a team have for event cancelation or 430 00:22:33,680 --> 00:22:36,800 Speaker 1: for business interruption? What kind of insurance do you have 431 00:22:36,840 --> 00:22:39,760 Speaker 1: and what gets covered under kind of the standard types 432 00:22:39,800 --> 00:22:43,000 Speaker 1: of that insurance when it comes to outbreaks like this. Well, 433 00:22:43,400 --> 00:22:46,359 Speaker 1: that's an excellent question and and I'm I don't have 434 00:22:46,400 --> 00:22:48,840 Speaker 1: the answer for that, but yeah, I can imagine there 435 00:22:48,920 --> 00:22:51,320 Speaker 1: is something that you can call on. I'm not sure 436 00:22:51,400 --> 00:22:54,000 Speaker 1: no one, you know, I haven't read any stories yet 437 00:22:54,000 --> 00:22:57,119 Speaker 1: about insurance coverage and how much this could cost the 438 00:22:57,160 --> 00:23:00,280 Speaker 1: insurance industry. But you know, I think it's an excellent question, 439 00:23:00,520 --> 00:23:03,480 Speaker 1: and I think there might be something. And maybe the 440 00:23:03,880 --> 00:23:07,920 Speaker 1: CFOs of the companies are pouring through their insurance documents 441 00:23:08,040 --> 00:23:11,400 Speaker 1: right now. Um I'm I bet you they're not all 442 00:23:11,440 --> 00:23:17,080 Speaker 1: the same. Um. You know, there's a standard UH agreement 443 00:23:17,280 --> 00:23:22,800 Speaker 1: for facility agreements with each team that the NBA has. 444 00:23:23,000 --> 00:23:25,480 Speaker 1: I can't remember if there was insure what the insurance 445 00:23:25,520 --> 00:23:29,639 Speaker 1: clause was in that or insurance obligations. Um, so I 446 00:23:29,800 --> 00:23:33,040 Speaker 1: bet you there's It varies from franchise to franchise, I'm 447 00:23:33,080 --> 00:23:37,680 Speaker 1: guessing here, and it will and will vary on how 448 00:23:38,320 --> 00:23:43,000 Speaker 1: If you know, insurance companies battle the insury on interpretation 449 00:23:43,080 --> 00:23:46,240 Speaker 1: all the time. So that's that's something that could play out, 450 00:23:46,680 --> 00:23:50,359 Speaker 1: But you won't know when you're when you're making that 451 00:23:50,400 --> 00:23:52,960 Speaker 1: decision to close. I don't think he'll have the answer 452 00:23:53,000 --> 00:23:54,760 Speaker 1: to that. You want to say, Yah, I'm gooble to 453 00:23:54,800 --> 00:23:57,560 Speaker 1: closing because I can recoup it all. I don't think 454 00:23:57,560 --> 00:24:00,200 Speaker 1: they'll know. We've we've been on a downer from bunch 455 00:24:00,200 --> 00:24:05,480 Speaker 1: of the program about how coronavirus might affect things like attendance. Um, 456 00:24:05,960 --> 00:24:08,200 Speaker 1: let's let's let's do the uplifting stuff here the good 457 00:24:08,240 --> 00:24:10,760 Speaker 1: part of sports. You've been out of it a little while. 458 00:24:11,320 --> 00:24:15,239 Speaker 1: What's your view of sport now as an outsider in 459 00:24:15,400 --> 00:24:19,920 Speaker 1: terms of media, in terms of distribution, in terms of entertainment, 460 00:24:20,160 --> 00:24:22,480 Speaker 1: what's your take on it now and how you see 461 00:24:22,720 --> 00:24:26,880 Speaker 1: the industry growing, particularly on the media side. Well, it's 462 00:24:26,920 --> 00:24:33,800 Speaker 1: gotting increasingly more sophisticated. The reach through technology has expanded dramatically. 463 00:24:34,480 --> 00:24:38,480 Speaker 1: There are so many ways you can consume sports today, UM, 464 00:24:38,840 --> 00:24:41,719 Speaker 1: so many more. Um. You know, I wasn't even on 465 00:24:41,760 --> 00:24:44,840 Speaker 1: Twitter when I was president, and and the social media 466 00:24:44,880 --> 00:24:47,560 Speaker 1: platforms that are available to me today. So there's no 467 00:24:47,640 --> 00:24:52,080 Speaker 1: doubt that that the leagues are increasingly sophisticated. Again, I 468 00:24:52,160 --> 00:24:54,960 Speaker 1: keep pointing to, you know, what David Stern started with 469 00:24:55,359 --> 00:25:00,440 Speaker 1: NBA TV and what Adam is continuing to do. Boy, 470 00:25:00,480 --> 00:25:06,359 Speaker 1: they're they're just finding ways to deliver the sports experience 471 00:25:06,400 --> 00:25:09,439 Speaker 1: wherever you want it and how you want it, and 472 00:25:09,560 --> 00:25:11,639 Speaker 1: at the same time monetize it. And you know, I 473 00:25:12,280 --> 00:25:15,879 Speaker 1: keep wondering what the impact will be of the cord 474 00:25:15,920 --> 00:25:21,840 Speaker 1: cutters and cord never's when the ESPN's cable revenue drops, 475 00:25:22,080 --> 00:25:25,359 Speaker 1: how will they afford new broadcast deals while they're making 476 00:25:25,359 --> 00:25:30,680 Speaker 1: it up by expansion internationally and with new um digital platforms. 477 00:25:30,760 --> 00:25:34,800 Speaker 1: So I'm I'm quite amazed. It's uh, it's it's quite fascinating. 478 00:25:34,840 --> 00:25:38,080 Speaker 1: It's uh, you know, I can remember when I first started, God, 479 00:25:38,160 --> 00:25:41,480 Speaker 1: I first started with the Raptors twenty two years ago. 480 00:25:42,320 --> 00:25:44,840 Speaker 1: It was pretty simple stuff. I could follow it along 481 00:25:44,920 --> 00:25:48,399 Speaker 1: and the collecting bargain agreements were easy. And now wow, 482 00:25:48,440 --> 00:25:51,679 Speaker 1: it's uh, you know, you know, you've got all these 483 00:25:51,720 --> 00:25:55,120 Speaker 1: financial experts and you've got technical departments that you never 484 00:25:55,160 --> 00:26:00,000 Speaker 1: had before. It's quite amazing and impressive. At home, I've 485 00:26:00,000 --> 00:26:01,800 Speaker 1: you cut the cord, you do you have cable? Do 486 00:26:01,840 --> 00:26:04,600 Speaker 1: you satellite? Do you direct your consumer what's how do 487 00:26:04,640 --> 00:26:08,919 Speaker 1: you watch your sports? I'm still I'm still on the cable. 488 00:26:10,440 --> 00:26:16,200 Speaker 1: See I follow, I follow. I must have a lot 489 00:26:16,200 --> 00:26:18,240 Speaker 1: of times I don't watch the games. I follow it 490 00:26:18,280 --> 00:26:20,760 Speaker 1: online because I'm interested in the box score so i 491 00:26:20,760 --> 00:26:23,400 Speaker 1: can do something else. At the same time that I'm 492 00:26:23,440 --> 00:26:27,680 Speaker 1: old and I'm not that twenty year I'm with you. 493 00:26:28,200 --> 00:26:32,399 Speaker 1: I say the exact same thing. I am a cable guy, 494 00:26:32,840 --> 00:26:34,800 Speaker 1: and yes, I have a setup where if I want 495 00:26:34,840 --> 00:26:38,080 Speaker 1: to check my Fantasy sports or whatever for the box 496 00:26:38,119 --> 00:26:41,399 Speaker 1: scores and things like that. But I'm just from the 497 00:26:41,480 --> 00:26:45,560 Speaker 1: mindset of I gotta have a cable because I can 498 00:26:45,600 --> 00:26:48,639 Speaker 1: get all these channels here, and I always worry if 499 00:26:48,640 --> 00:26:50,720 Speaker 1: the Internet goes out, that's it. But at least I 500 00:26:50,800 --> 00:26:53,440 Speaker 1: still have cable. Well with that said Richard, though, I'm curious, 501 00:26:53,920 --> 00:26:56,280 Speaker 1: how do you stand then? Where do you stand on 502 00:26:56,359 --> 00:26:59,520 Speaker 1: let's say an ESPN H if you're if you're weighing 503 00:26:59,560 --> 00:27:02,639 Speaker 1: the price use of acquisition for sports programming, and we 504 00:27:02,720 --> 00:27:05,959 Speaker 1: know that goes into the multi billions of dollars, and 505 00:27:06,040 --> 00:27:09,760 Speaker 1: you're having fewer customers pay for the cable, which was 506 00:27:09,800 --> 00:27:12,040 Speaker 1: of course the main revenue stream and now their cord cutters. 507 00:27:12,080 --> 00:27:14,520 Speaker 1: You don't get quite as much from ESPN. Plus, are 508 00:27:14,520 --> 00:27:18,920 Speaker 1: you confident that the revenues of these leagues will remain 509 00:27:18,960 --> 00:27:23,320 Speaker 1: where they are or might they experience a dip because 510 00:27:23,520 --> 00:27:27,280 Speaker 1: of um, these networks being unwilling or unable to spend 511 00:27:27,320 --> 00:27:30,680 Speaker 1: as much as they once did well until recently. I've 512 00:27:30,680 --> 00:27:32,959 Speaker 1: read some articles and I can't quote them exactly, but 513 00:27:33,320 --> 00:27:35,720 Speaker 1: I've been in the case where watch out the next 514 00:27:36,320 --> 00:27:38,480 Speaker 1: you know, I'm thinking of the players to get of 515 00:27:38,480 --> 00:27:42,720 Speaker 1: the revenue, and and expecting that the salary cap is 516 00:27:42,760 --> 00:27:45,359 Speaker 1: going up every year. Watch when this I don't know 517 00:27:45,359 --> 00:27:48,560 Speaker 1: when the ESPN deal expires, and and and the others 518 00:27:48,640 --> 00:27:50,840 Speaker 1: that that the NBA is counting in a I've been 519 00:27:50,880 --> 00:27:53,080 Speaker 1: saying for a long time, like, Wow, they're gonna there's 520 00:27:53,080 --> 00:27:54,959 Speaker 1: gonna be a big surprise, there's gonna be a big haircut. 521 00:27:55,200 --> 00:27:57,200 Speaker 1: But then I'm reading that whether it's all the other 522 00:27:57,240 --> 00:28:01,440 Speaker 1: platforms and going internationally that are looking at another big jump, 523 00:28:01,520 --> 00:28:05,560 Speaker 1: So I don't know. Again, Um, you know, people like 524 00:28:05,600 --> 00:28:08,080 Speaker 1: Adam Silver, I think we'll pull pull a rabbit out 525 00:28:08,080 --> 00:28:10,720 Speaker 1: of the hat again. But yeah, I'd be a little 526 00:28:10,720 --> 00:28:13,600 Speaker 1: worried about that. And you know, the players, they'll be 527 00:28:13,640 --> 00:28:16,960 Speaker 1: shocked if if you know, salary caps come down, I 528 00:28:17,000 --> 00:28:21,080 Speaker 1: mean already with the Chinese thing happening, it's already, as 529 00:28:21,119 --> 00:28:24,000 Speaker 1: I understand it potentially impacted the salary cap for next 530 00:28:24,040 --> 00:28:27,520 Speaker 1: year three or follion dollar hit. Yeah, I think they 531 00:28:27,600 --> 00:28:31,720 Speaker 1: get upwards of the gate. So imagine what the gate 532 00:28:31,920 --> 00:28:35,480 Speaker 1: is that they could lose. So next year, in a 533 00:28:35,480 --> 00:28:37,040 Speaker 1: couple of months, there could be a big surprise in 534 00:28:37,080 --> 00:28:39,520 Speaker 1: the salary cap next year. Richard, you were there in 535 00:28:39,560 --> 00:28:41,840 Speaker 1: the beginning for the Raptors, you know, a lot of 536 00:28:41,920 --> 00:28:44,480 Speaker 1: lean years in the beginning. But I'm curious how you 537 00:28:44,760 --> 00:28:47,600 Speaker 1: how you felt watching the team finally win an NBA 538 00:28:47,680 --> 00:28:50,000 Speaker 1: championship this year. Yeah, it was pretty It was pretty cool. 539 00:28:50,120 --> 00:28:51,720 Speaker 1: I was. I was at the game when I was 540 00:28:51,720 --> 00:28:53,560 Speaker 1: hoping they were going to confirm it at home, but 541 00:28:53,680 --> 00:28:56,120 Speaker 1: they had to go back to the West Coast to win, 542 00:28:56,240 --> 00:28:58,400 Speaker 1: and that was pretty nice. Uh you know, that's that 543 00:28:58,480 --> 00:29:01,280 Speaker 1: was the case, a team that Wayne Casey got them 544 00:29:01,280 --> 00:29:05,080 Speaker 1: in a position to do it. Messiahs an outstanding general manager. 545 00:29:05,640 --> 00:29:08,560 Speaker 1: You know, it's it's a locker room without any drama, 546 00:29:08,680 --> 00:29:12,240 Speaker 1: there's no egos. I watch how some players close to 547 00:29:12,280 --> 00:29:15,680 Speaker 1: where you guys are located. The story locker rooms and 548 00:29:15,720 --> 00:29:18,360 Speaker 1: they have none of that there, so it was really great. 549 00:29:18,560 --> 00:29:21,120 Speaker 1: And then my friend Larry kenne Mom who I worked 550 00:29:21,120 --> 00:29:23,560 Speaker 1: for for fourteen years, was good enough to give me 551 00:29:23,600 --> 00:29:26,480 Speaker 1: a championship ring, so it was all good great And 552 00:29:26,760 --> 00:29:29,960 Speaker 1: Toronto obviously will never will probably never not be a 553 00:29:29,960 --> 00:29:33,120 Speaker 1: hockey town. But you know, so much attention being paid 554 00:29:33,160 --> 00:29:35,960 Speaker 1: now to Canadian players that are that are doing well 555 00:29:35,960 --> 00:29:37,920 Speaker 1: in the NBA. The Canadian national team is doing battle 556 00:29:38,000 --> 00:29:40,880 Speaker 1: the raptor success. How do you judge the strength of 557 00:29:40,920 --> 00:29:43,640 Speaker 1: the business of basketball right now in Canada. Well, you know, 558 00:29:43,920 --> 00:29:45,640 Speaker 1: basketball is the number two sport in the world and 559 00:29:45,720 --> 00:29:49,840 Speaker 1: the first one is football. And you know, Toronto, over 560 00:29:50,480 --> 00:29:55,160 Speaker 1: of the population was not born in in Canada. They're 561 00:29:55,200 --> 00:29:57,400 Speaker 1: from all over the world. They're not from Europe anymore. 562 00:29:57,960 --> 00:30:00,920 Speaker 1: They're from all the diverse country from the world. It's 563 00:30:01,040 --> 00:30:06,760 Speaker 1: the most diverse, uh group of people. And so they 564 00:30:06,800 --> 00:30:09,480 Speaker 1: and we we still bring in a lot of immigrants 565 00:30:10,040 --> 00:30:13,080 Speaker 1: and uh, they're not coming from hockey countries. They're coming 566 00:30:13,160 --> 00:30:18,720 Speaker 1: from football and basketball and cricket countries now, so basketball 567 00:30:18,960 --> 00:30:21,840 Speaker 1: is really grown. And but the reason I brought Toronto 568 00:30:21,920 --> 00:30:24,640 Speaker 1: FC and brought the MLS to Canada because I looked 569 00:30:24,640 --> 00:30:29,040 Speaker 1: at I looked at the demographics of of of Toronto. 570 00:30:29,600 --> 00:30:32,360 Speaker 1: I first looked at bringing in MLS team to Toronto 571 00:30:32,440 --> 00:30:36,440 Speaker 1: and and it was an easy one, you know, a 572 00:30:36,560 --> 00:30:40,560 Speaker 1: decade later, more than a decade too, because the demographics 573 00:30:40,600 --> 00:30:44,000 Speaker 1: and I spoke to it. So yeah, I think the 574 00:30:44,360 --> 00:30:47,960 Speaker 1: teams of the future are Toronto FC and the Toronto Raptors. 575 00:30:48,240 --> 00:30:50,240 Speaker 1: Not to say that the you know, hockey is still 576 00:30:50,280 --> 00:30:52,840 Speaker 1: very much in our d n A, but it definitely 577 00:30:52,920 --> 00:30:56,320 Speaker 1: won't be you know, the number one that it is today. 578 00:30:56,520 --> 00:30:58,360 Speaker 1: You go to a hockey game with the Leaves, it 579 00:30:58,360 --> 00:31:00,080 Speaker 1: looks like old Toronto. You go to a basket a 580 00:31:00,080 --> 00:31:02,040 Speaker 1: game of the Raptors, it looks like new Toronto. Well 581 00:31:02,080 --> 00:31:04,600 Speaker 1: the money follow, if that is true, will the money 582 00:31:04,640 --> 00:31:08,480 Speaker 1: follow where the Raptors will continue to see a rising 583 00:31:08,880 --> 00:31:12,000 Speaker 1: in valuation and and the Leaves may one day be 584 00:31:12,000 --> 00:31:14,440 Speaker 1: behind basketball And I don't know if I'm ready to 585 00:31:14,440 --> 00:31:17,240 Speaker 1: say behind the soccer team yet, but the valuations there 586 00:31:17,440 --> 00:31:19,360 Speaker 1: are rising in that league too. Well, you say the 587 00:31:19,480 --> 00:31:23,440 Speaker 1: enterprise value already if you believe Bloomberg, I do. For 588 00:31:23,560 --> 00:31:28,960 Speaker 1: the record, I do Bloomberg. But I think Forbes gave 589 00:31:29,040 --> 00:31:31,959 Speaker 1: the Raptors two point one billion, and I think they 590 00:31:31,960 --> 00:31:35,080 Speaker 1: gave the Leaves one point six billion US. But I 591 00:31:35,080 --> 00:31:38,160 Speaker 1: can tell you way back when we first merged with 592 00:31:38,320 --> 00:31:41,480 Speaker 1: the Leaves, I almost had When we're doing sponsorship deals, 593 00:31:41,480 --> 00:31:44,080 Speaker 1: I almost had to, you know, throw in the Raptors 594 00:31:44,120 --> 00:31:48,280 Speaker 1: portion at a discount. I'm not out there selling the 595 00:31:48,480 --> 00:31:51,000 Speaker 1: sponsorship now, but I wouldn't be sprading a lot of 596 00:31:51,000 --> 00:31:56,480 Speaker 1: those categories. Sponsors are taking the brands because of the Raptors, 597 00:31:56,520 --> 00:31:58,640 Speaker 1: not because of the Leaves. Well, the Leaves are the 598 00:31:58,680 --> 00:32:00,840 Speaker 1: throw window or the add On. Wow, who would have 599 00:32:01,560 --> 00:32:06,200 Speaker 1: throw On have a bigger television audience. I bet their 600 00:32:06,240 --> 00:32:09,240 Speaker 1: gate is still a little bit higher, but I'm not sure. 601 00:32:10,160 --> 00:32:12,800 Speaker 1: But boy, the Raptors are catching up. And you know, 602 00:32:12,880 --> 00:32:15,680 Speaker 1: it's a franchise that I sold for two billion Canadian 603 00:32:15,920 --> 00:32:19,040 Speaker 1: eight years ago and now it's the whole MLS thing 604 00:32:19,080 --> 00:32:21,880 Speaker 1: is going to be worth four or five billion US, 605 00:32:21,960 --> 00:32:25,280 Speaker 1: and the Raptors and in a little way, Toronto FCS 606 00:32:25,320 --> 00:32:27,920 Speaker 1: have added to that. And it's certainly it's a media play. 607 00:32:28,160 --> 00:32:30,880 Speaker 1: It's a real estate play as sports is nowadays. It's 608 00:32:30,880 --> 00:32:33,120 Speaker 1: not just the games, Richard. But before we go, I 609 00:32:33,120 --> 00:32:35,520 Speaker 1: want to let you tell, Let you tell everybody what 610 00:32:35,600 --> 00:32:37,760 Speaker 1: you're doing with your bookstore. By the way, talk about 611 00:32:37,760 --> 00:32:41,680 Speaker 1: old school people reading books, tell them what you're doing well. Actually, 612 00:32:41,800 --> 00:32:45,000 Speaker 1: independent bookstores are making a big recovery in the United States. 613 00:32:45,200 --> 00:32:48,560 Speaker 1: And I've been a bibliophile all my life. I've written 614 00:32:48,560 --> 00:32:53,560 Speaker 1: two books. And I'm down this little community that thousand 615 00:32:54,200 --> 00:32:57,640 Speaker 1: and I'm trying to really jump started a bit, and 616 00:32:57,720 --> 00:33:00,680 Speaker 1: there isn't a bookstore within thirty two ks. And I 617 00:33:00,720 --> 00:33:04,440 Speaker 1: believe that all great little communities need a good library 618 00:33:04,480 --> 00:33:08,440 Speaker 1: and a bookstore. So I'm going I'm restoring building that 619 00:33:10,920 --> 00:33:14,600 Speaker 1: making it a bookshop. It's called the River Bookshop, and 620 00:33:15,160 --> 00:33:18,680 Speaker 1: it's probably more of a philanthropy play than than an investment. 621 00:33:18,800 --> 00:33:21,360 Speaker 1: But it's gonna make a difference in this community. And 622 00:33:22,000 --> 00:33:25,200 Speaker 1: I'm getting a chance to buy six or seven thousand books. 623 00:33:25,400 --> 00:33:27,120 Speaker 1: It's a lot of fun. Can I come and speak 624 00:33:27,160 --> 00:33:29,400 Speaker 1: at one day? Absolutely, as soon as you have, you 625 00:33:29,400 --> 00:33:33,240 Speaker 1: published a book. Yet, I'm more of a magazine article guy, 626 00:33:33,640 --> 00:33:35,720 Speaker 1: but not not a book. You know, I don't have 627 00:33:35,800 --> 00:33:37,880 Speaker 1: to discipline, you know, I don't have to discipline to 628 00:33:37,920 --> 00:33:40,680 Speaker 1: sit that long, Scott, You'd be such a draw that 629 00:33:41,160 --> 00:33:43,280 Speaker 1: I wouldn't go to hold it in the bookstore because 630 00:33:43,280 --> 00:33:45,720 Speaker 1: I'll only hold about sixty. I'd run a big hall 631 00:33:45,800 --> 00:33:49,400 Speaker 1: for you, chucks. Thank you so much. We appreciate it. 632 00:33:49,440 --> 00:33:51,240 Speaker 1: Do you ought to see his head now? Thank you 633 00:33:51,360 --> 00:33:55,360 Speaker 1: so much. Richard Betty, former president and CEO of Maple 634 00:33:55,440 --> 00:33:57,880 Speaker 1: Leaf Sports and Entertainment. So glad you could take the 635 00:33:57,880 --> 00:34:01,080 Speaker 1: time and talk with us there. Thanks guys. I think 636 00:34:01,160 --> 00:34:03,840 Speaker 1: the thing that I think about the most, and when 637 00:34:03,840 --> 00:34:06,280 Speaker 1: he was talking about stars and you mentioned it, I mean, 638 00:34:06,280 --> 00:34:09,560 Speaker 1: he went through something like this and the impact that 639 00:34:09,600 --> 00:34:13,359 Speaker 1: had had on the game, and I just wonder, now 640 00:34:14,160 --> 00:34:16,319 Speaker 1: down the road, what is this going to mean the 641 00:34:16,360 --> 00:34:20,120 Speaker 1: coronavirus for any sporting event? Well, yeah, I think we're 642 00:34:20,120 --> 00:34:22,520 Speaker 1: all wondering that one. I'm still taking it back on 643 00:34:22,600 --> 00:34:26,640 Speaker 1: the Maple Leafs or old Toronto and the soccer and 644 00:34:26,680 --> 00:34:29,640 Speaker 1: the basketball is the new Toronto and the enterprise value 645 00:34:29,640 --> 00:34:33,560 Speaker 1: and the valuations and that these other clubs basketball right 646 00:34:33,560 --> 00:34:35,680 Speaker 1: now with more valuable than hockey. I mean, who would 647 00:34:35,680 --> 00:34:37,880 Speaker 1: have funk that the Maple Leafs, you know, could one 648 00:34:37,960 --> 00:34:43,120 Speaker 1: day be third Banana in Toronto. But wow, And also 649 00:34:43,480 --> 00:34:46,360 Speaker 1: just him playing it down the line that the salary 650 00:34:46,400 --> 00:34:49,440 Speaker 1: cap they just don't know, I mean what happens if 651 00:34:49,480 --> 00:34:51,920 Speaker 1: you can't have the fans and you don't get the 652 00:34:51,960 --> 00:34:55,200 Speaker 1: perk caps, and then you don't get the revenue. I mean, 653 00:34:55,560 --> 00:34:58,239 Speaker 1: we all know salary cap is percentage of revenue. Are 654 00:34:58,280 --> 00:35:01,560 Speaker 1: the players ready for lower cap for people? Are teams 655 00:35:01,600 --> 00:35:04,239 Speaker 1: ready to not be able to fit players under that 656 00:35:04,280 --> 00:35:08,239 Speaker 1: cap and have to cut players? It could be a mess. Yeah, 657 00:35:08,239 --> 00:35:10,000 Speaker 1: and I thought he, I mean, he kind of underscored 658 00:35:10,040 --> 00:35:15,080 Speaker 1: how there's no playbook again with the underscore every episode. 659 00:35:15,800 --> 00:35:19,360 Speaker 1: There's no playbook here for team owners, for team operators, 660 00:35:19,360 --> 00:35:21,759 Speaker 1: for arena operators. It's not like they flipped through the 661 00:35:21,800 --> 00:35:24,400 Speaker 1: manual and go to disease outbreak and just start following 662 00:35:24,400 --> 00:35:28,080 Speaker 1: the instructions. Obviously, it's a it's a very complex web 663 00:35:28,080 --> 00:35:30,480 Speaker 1: of issues you need to look at. Not to mention 664 00:35:30,520 --> 00:35:33,320 Speaker 1: the insurance, you know, as he mentioned, which you know, 665 00:35:33,360 --> 00:35:36,120 Speaker 1: it's interesting that that as the way these things are written. 666 00:35:36,160 --> 00:35:38,640 Speaker 1: Sometimes you don't have you don't know for sure when 667 00:35:38,680 --> 00:35:40,719 Speaker 1: you cancel your games, whether or not you're covered under 668 00:35:40,800 --> 00:35:43,360 Speaker 1: kind of the vagaries of of what exactly about the 669 00:35:43,400 --> 00:35:46,320 Speaker 1: value your values, even though they say you don't have to, 670 00:35:46,960 --> 00:35:49,680 Speaker 1: maybe you have to exactly. Yeah, So you know those 671 00:35:49,680 --> 00:35:55,120 Speaker 1: are conversations that are happening in dozens fifty arenas and 672 00:35:55,239 --> 00:35:57,719 Speaker 1: stadiums around the country, if not more, let alone around 673 00:35:57,760 --> 00:36:00,600 Speaker 1: the world. Everybody trying to do don't remember that. The 674 00:36:00,640 --> 00:36:03,279 Speaker 1: pitch media another great example, another great example. When you 675 00:36:03,320 --> 00:36:05,279 Speaker 1: think about sports teams, you don't necessarily think of these 676 00:36:05,280 --> 00:36:09,000 Speaker 1: guys on the road intitutional money. Yeah, solicit money from 677 00:36:09,000 --> 00:36:11,200 Speaker 1: to make a pitch to institutional about somebody. No no, no no, no, no, 678 00:36:11,360 --> 00:36:13,440 Speaker 1: stay at the door. Some of them are so again, 679 00:36:13,480 --> 00:36:14,960 Speaker 1: I think I think he did a good job of 680 00:36:15,040 --> 00:36:18,120 Speaker 1: just showing that the huge complexity that is happening in 681 00:36:18,120 --> 00:36:22,279 Speaker 1: little pockets around the country and around the world. Right now, 682 00:36:23,280 --> 00:36:25,160 Speaker 1: it feels better to be number one than number five. 683 00:36:25,160 --> 00:36:26,800 Speaker 1: I'll wear a number because of Mike. We have a 684 00:36:26,880 --> 00:36:28,799 Speaker 1: chance to go for three in a row, numbers at 685 00:36:28,800 --> 00:36:30,840 Speaker 1: a good time, and let's first started wearing the number. 686 00:36:30,960 --> 00:36:34,480 Speaker 1: I would just have the floomberg business of sports. The 687 00:36:34,600 --> 00:36:38,400 Speaker 1: number of the week, number of the week, about a million. 688 00:36:39,120 --> 00:36:42,040 Speaker 1: I'll give you a hint. This is from last season 689 00:36:42,719 --> 00:36:45,120 Speaker 1: because of something that's coming up this season. About a 690 00:36:45,120 --> 00:36:50,440 Speaker 1: million dollars or about a million nine dollars. It's not dollars. 691 00:36:51,160 --> 00:36:54,960 Speaker 1: It translates into dollars. But in this case, it's not dollars. 692 00:36:56,719 --> 00:37:00,000 Speaker 1: That's the amount of people that went to a college 693 00:37:00,120 --> 00:37:04,560 Speaker 1: football game last season. No, I'll give you it is 694 00:37:06,000 --> 00:37:08,200 Speaker 1: Let's let's put it this way. And the twenty nineteen 695 00:37:08,360 --> 00:37:12,600 Speaker 1: total attendance across major league games, all the major league games, 696 00:37:12,880 --> 00:37:17,080 Speaker 1: it dropped by about a million fans in twenty nineteen 697 00:37:17,200 --> 00:37:20,359 Speaker 1: dropped to about sixty eight point five million. And I'm 698 00:37:20,400 --> 00:37:25,760 Speaker 1: hoping this season, I hope the coronavirus does not impact 699 00:37:25,760 --> 00:37:29,000 Speaker 1: that number again. It's going to it's going to. Okay, 700 00:37:29,040 --> 00:37:32,680 Speaker 1: allow me to say it will so much for being optimism. 701 00:37:33,560 --> 00:37:37,000 Speaker 1: You're listening to the Bloomberg Business of sports, and we're 702 00:37:37,040 --> 00:37:39,280 Speaker 1: here each and every week at the same time, plus 703 00:37:39,320 --> 00:37:41,840 Speaker 1: online wherever you get your podcast you can catch those Mondays, 704 00:37:41,880 --> 00:37:44,040 Speaker 1: Wednesdays and Thursdays. I'm Michael Barr on Twitter at Big 705 00:37:44,080 --> 00:37:47,560 Speaker 1: Bar Sports. I'm Evan Novi Williams at nov Underscore Williams, 706 00:37:47,560 --> 00:37:49,960 Speaker 1: and I'm Scott. You can follow me on Twitter at 707 00:37:50,000 --> 00:37:52,200 Speaker 1: ssh Nick. Thank you very much for joining us. Please 708 00:37:52,239 --> 00:37:54,320 Speaker 1: tin it next week when we once again speak with 709 00:37:54,440 --> 00:37:57,000 Speaker 1: the biggest and brightest in the sports business industry. You're 710 00:37:57,000 --> 00:38:00,120 Speaker 1: listening to Bloomberg Business of Sports from Bloomberg Radio all 711 00:38:00,160 --> 00:38:00,560 Speaker 1: the World,