1 00:00:02,400 --> 00:00:05,040 Speaker 1: Hello, I'm Michael Van and I'm Scott Slashnik. On this 2 00:00:05,080 --> 00:00:07,560 Speaker 1: weekly podcast, we explore the big money issues in the 3 00:00:07,560 --> 00:00:09,320 Speaker 1: world of sports and talk to some of the biggest 4 00:00:09,320 --> 00:00:12,080 Speaker 1: players in the industry. On this week's show, we speak 5 00:00:12,119 --> 00:00:15,800 Speaker 1: with Bruins Sports Capital founder George Pine. That's in a 6 00:00:15,800 --> 00:00:18,320 Speaker 1: few minutes, but first let's look at the top stories 7 00:00:18,320 --> 00:00:20,760 Speaker 1: of the week. Joining us is Bloomberg Business of Sports 8 00:00:20,760 --> 00:00:26,000 Speaker 1: reporter Eben Noby Williams, and let's start with Christiano Ronaldo 9 00:00:26,520 --> 00:00:30,920 Speaker 1: and Fiat and people in Italy aren't happy. Yeah. We 10 00:00:30,920 --> 00:00:34,200 Speaker 1: we talked last week about Ronaldo joining Juventus, a hundred 11 00:00:34,240 --> 00:00:37,360 Speaker 1: and thirty million dollar deal all told, that includes the 12 00:00:37,440 --> 00:00:40,440 Speaker 1: transfer fee in the salary. The company that owns the 13 00:00:40,760 --> 00:00:45,880 Speaker 1: owns Uventus, the Agnelli family, also owns Fiat. Workers are 14 00:00:46,000 --> 00:00:49,760 Speaker 1: not happy that the UH that the owners of their company, 15 00:00:49,760 --> 00:00:53,440 Speaker 1: instead of investing that hundred and thirty million dollars into cars, 16 00:00:53,760 --> 00:00:58,000 Speaker 1: are instead investing that into UH. One particular Portuguese soccer player, 17 00:00:58,240 --> 00:01:00,480 Speaker 1: Scott is this fair? Is Is it fair owners of 18 00:01:00,760 --> 00:01:03,440 Speaker 1: one part of employees of one part of this owner's 19 00:01:03,440 --> 00:01:05,959 Speaker 1: business to be upset about the way he's conducting there. 20 00:01:06,000 --> 00:01:07,600 Speaker 1: If you're a sports team owner. You're gonna get it 21 00:01:07,600 --> 00:01:09,440 Speaker 1: from all sides. I mean, you go public. Is we 22 00:01:09,480 --> 00:01:11,640 Speaker 1: all know what sports team ownership does. You're out there 23 00:01:11,680 --> 00:01:14,040 Speaker 1: in the public domain if you're going to own another entity. Yeah, 24 00:01:14,280 --> 00:01:17,000 Speaker 1: of course it's fair. The question is, in my mind, 25 00:01:17,280 --> 00:01:19,600 Speaker 1: is there an argument to be made to the Fiat 26 00:01:19,640 --> 00:01:23,440 Speaker 1: workers that the rising tide will lift all the boats, 27 00:01:23,480 --> 00:01:26,000 Speaker 1: that if things are going well or better at the club, 28 00:01:26,720 --> 00:01:31,400 Speaker 1: perhaps the Agnelli family will reinvest more in the company. 29 00:01:31,800 --> 00:01:34,080 Speaker 1: Do you part and parcel like one operates on its 30 00:01:34,080 --> 00:01:37,959 Speaker 1: own or is there some sort of interdependence and yeah, 31 00:01:37,959 --> 00:01:40,200 Speaker 1: it's the family. The wealth and the health of the family. 32 00:01:40,280 --> 00:01:43,080 Speaker 1: Of the finances certainly will impact how they conduct the business. 33 00:01:43,080 --> 00:01:45,840 Speaker 1: Worth noting that Jeep, which is a Fiat brand, is 34 00:01:45,880 --> 00:01:49,560 Speaker 1: the jersey sponsor of Juventus. Are friends over an Apex 35 00:01:49,600 --> 00:01:52,960 Speaker 1: marketing group sent us numbers this week about the financial 36 00:01:53,000 --> 00:01:55,640 Speaker 1: boon that you you Ventus getting far in the Champions 37 00:01:55,720 --> 00:02:00,120 Speaker 1: League with Ronaldo might mean there is certainly in an expo. 38 00:02:00,160 --> 00:02:04,400 Speaker 1: Is your value here for Fiat through Jeep by virtue 39 00:02:04,480 --> 00:02:06,960 Speaker 1: of being on the jersey that is now I would 40 00:02:07,000 --> 00:02:09,040 Speaker 1: imagine one of the hottest selling Soca would you we're 41 00:02:09,040 --> 00:02:12,960 Speaker 1: getting ready for the limited edition Ronaldo Renegade. We'll come 42 00:02:13,000 --> 00:02:21,160 Speaker 1: with no top. Thank you anyway, thank you got the side, 43 00:02:21,320 --> 00:02:25,280 Speaker 1: Thank you very much. By the way, the plant, this 44 00:02:25,320 --> 00:02:27,160 Speaker 1: is one of the reasons why people are upset. The 45 00:02:27,160 --> 00:02:29,080 Speaker 1: plant is located in one of the poorest regions in 46 00:02:29,120 --> 00:02:33,200 Speaker 1: Italy and they're planning a strike for next week. Happy 47 00:02:33,400 --> 00:02:40,840 Speaker 1: Happy Ronaldo. Next topic, Papa John's and MLB is suspending 48 00:02:40,880 --> 00:02:46,160 Speaker 1: the Papa Slam promotion because of what John Schnatner said. 49 00:02:47,240 --> 00:02:49,799 Speaker 1: It's the Grand Slam promotion. I mean, at this point 50 00:02:49,840 --> 00:02:52,200 Speaker 1: is set. They're not getting into the Grand Slam of stupid. 51 00:02:52,760 --> 00:02:55,480 Speaker 1: The Papa had a rough week. It's been a rough 52 00:02:55,560 --> 00:02:58,519 Speaker 1: year for Papa in general. But man, I mean, so 53 00:02:58,800 --> 00:03:01,880 Speaker 1: the backstory here, on a conference call with a marketing agency, 54 00:03:02,360 --> 00:03:05,400 Speaker 1: he used a racial slur. It offended enough people on 55 00:03:05,440 --> 00:03:08,920 Speaker 1: the call that you know the marketing agency suspended its relationship. 56 00:03:08,919 --> 00:03:11,320 Speaker 1: But you could hear he was saying the context of 57 00:03:11,360 --> 00:03:14,320 Speaker 1: the call should matter. But now he realizes that the 58 00:03:14,360 --> 00:03:18,799 Speaker 1: context of the call to people does not matter. So 59 00:03:19,480 --> 00:03:21,960 Speaker 1: and by the way, also worth saying in the irony world, 60 00:03:22,480 --> 00:03:26,680 Speaker 1: this was a call to help him plan his rehabilitation 61 00:03:26,760 --> 00:03:29,600 Speaker 1: in the public Yeah, the role playing exercise so he 62 00:03:29,639 --> 00:03:34,639 Speaker 1: can rehabilitate from the first mistake. Yeah, shares Papa John down. 63 00:03:35,320 --> 00:03:37,920 Speaker 1: Papa John out as chairman of the board of the company. 64 00:03:37,920 --> 00:03:40,960 Speaker 1: He had already stepped down as CEO later earlier this year. 65 00:03:41,480 --> 00:03:44,120 Speaker 1: He's out at the University of Louisville board of trustees. 66 00:03:44,120 --> 00:03:46,440 Speaker 1: He was out at their athletic board a couple of 67 00:03:46,480 --> 00:03:49,240 Speaker 1: months ago. This is interesting again, this is sports business. 68 00:03:49,280 --> 00:03:52,640 Speaker 1: We're focusing on. The deal to name the football stadium 69 00:03:53,520 --> 00:03:58,400 Speaker 1: at Louisville is not with the company, it's with him. 70 00:03:58,520 --> 00:04:01,440 Speaker 1: It's the guy. Like if he it's the name the stadium, 71 00:04:01,440 --> 00:04:07,080 Speaker 1: me me stadium. That that's an interesting, weird dynamic that 72 00:04:07,120 --> 00:04:08,880 Speaker 1: they now have to Navy. You can bet that if 73 00:04:08,920 --> 00:04:11,480 Speaker 1: he wants to exercise that part of the clause the 74 00:04:11,480 --> 00:04:13,840 Speaker 1: contract which does say that that if he leaves the company, 75 00:04:14,320 --> 00:04:17,160 Speaker 1: he can change the name as well. Um. There will 76 00:04:17,160 --> 00:04:20,720 Speaker 1: be lawyers associated with that left and right. Um. But yeah, 77 00:04:20,760 --> 00:04:24,240 Speaker 1: this is Papa is a not just at Louisville, but 78 00:04:24,279 --> 00:04:26,640 Speaker 1: across the country. He had a that they had a 79 00:04:26,680 --> 00:04:30,880 Speaker 1: big NFL deal that dissolved in public fashion earlier this year. Uh, 80 00:04:30,920 --> 00:04:33,160 Speaker 1: there's a big sports sponsor not just putting their name 81 00:04:33,200 --> 00:04:35,920 Speaker 1: on stadiums, but also, you know, partnering with teams and leagues. 82 00:04:35,960 --> 00:04:38,400 Speaker 1: It's interesting to see what the MLB teams do because 83 00:04:38,400 --> 00:04:42,400 Speaker 1: their deals are not affected by the league's decision to cut. 84 00:04:42,480 --> 00:04:43,800 Speaker 1: I don't think we've heard the end of the of 85 00:04:43,839 --> 00:04:48,000 Speaker 1: the fallout of Papa John at all. Now onto a 86 00:04:48,040 --> 00:04:53,320 Speaker 1: happier topic, p G A one million Dollar Challenge, p 87 00:04:53,480 --> 00:04:57,719 Speaker 1: G A Tour and LPGA Tour rollout. Yeah. Again, they're 88 00:04:57,760 --> 00:05:02,200 Speaker 1: looking to be creative. There will be certain holes throughout 89 00:05:02,200 --> 00:05:04,760 Speaker 1: the year. I wanted a tournament and here in next tournament, 90 00:05:04,839 --> 00:05:08,360 Speaker 1: one hole at each place where whoever shoots the best 91 00:05:08,440 --> 00:05:12,560 Speaker 1: or the lowest score throughout the year on these predetermined 92 00:05:12,600 --> 00:05:15,200 Speaker 1: holes gets a million dollar bonus. I'm all for it. 93 00:05:15,240 --> 00:05:17,800 Speaker 1: Why not? What if if it's something else you can 94 00:05:17,839 --> 00:05:21,640 Speaker 1: do to generate interest in the sport, why not. But 95 00:05:21,720 --> 00:05:25,000 Speaker 1: I think what's even more important that struck me is 96 00:05:25,080 --> 00:05:27,839 Speaker 1: that now it's a level playing field for both the 97 00:05:27,839 --> 00:05:30,920 Speaker 1: men and women perspective. Yes, which is the way it 98 00:05:30,920 --> 00:05:33,120 Speaker 1: should be. Yeah, and that the fact that they are 99 00:05:33,240 --> 00:05:37,560 Speaker 1: offering equal prize money also noteworthy. But for me, it's 100 00:05:37,600 --> 00:05:40,039 Speaker 1: just somebody's thinking and they had they had a a 101 00:05:40,400 --> 00:05:45,240 Speaker 1: version of this prior, but the Kodak challenge, so the 102 00:05:45,640 --> 00:05:49,279 Speaker 1: fact that they're just thinking and doing and trying. Why not, 103 00:05:49,279 --> 00:05:52,000 Speaker 1: Because we've talked about the demo of golf. You gotta 104 00:05:52,040 --> 00:05:54,560 Speaker 1: get some new life there. I see the why not question, 105 00:05:54,600 --> 00:05:57,440 Speaker 1: But I don't see this movie the needle. Golf has 106 00:05:57,480 --> 00:06:00,720 Speaker 1: obviously has demographic problems, that has problems attracting new new 107 00:06:00,800 --> 00:06:05,000 Speaker 1: viewers and new players. I don't see you said before, 108 00:06:05,000 --> 00:06:07,440 Speaker 1: I've never heard of the Kodak challenged and note existed. 109 00:06:07,720 --> 00:06:09,640 Speaker 1: I don't. I don't see this being being a thing 110 00:06:09,640 --> 00:06:13,280 Speaker 1: that moves the needle. We'll see our thanks to Bloomberg 111 00:06:13,320 --> 00:06:15,880 Speaker 1: Business of Sports reporter Eman Novi Williams. You can follow 112 00:06:15,960 --> 00:06:19,640 Speaker 1: him on Twitter at novie Underscore Williams. Change that. Now, 113 00:06:19,720 --> 00:06:23,120 Speaker 1: let's get into this week's interview with Bruins Sports Capital 114 00:06:23,160 --> 00:06:27,120 Speaker 1: founder George Pine. Pine is a former executive at NASCAR 115 00:06:27,360 --> 00:06:30,240 Speaker 1: and i MG, where he served as president of the 116 00:06:30,320 --> 00:06:34,800 Speaker 1: Sports Entertainment Division. He served as NASCAR's Chief operating officer, 117 00:06:35,040 --> 00:06:37,760 Speaker 1: becoming only the second non member of the France family 118 00:06:38,000 --> 00:06:41,240 Speaker 1: to serve on its board. He founded Bruin to acquire, 119 00:06:41,440 --> 00:06:46,880 Speaker 1: build and invest in media, sports marketing and branded lifestyle companies. George, 120 00:06:46,880 --> 00:06:49,600 Speaker 1: thank you very much for joining us. My pleasure. Thanks 121 00:06:49,600 --> 00:06:52,240 Speaker 1: for having me. And if I can get personal, because 122 00:06:52,360 --> 00:06:54,839 Speaker 1: not a lot of people can talk about this, but 123 00:06:55,000 --> 00:06:59,080 Speaker 1: your son Drew is headed to Notre Dame to play quarterback. 124 00:06:59,160 --> 00:07:01,600 Speaker 1: That is one of the his pressure positions, and all 125 00:07:01,640 --> 00:07:03,960 Speaker 1: of college sports he had offers from it. I'm gonna 126 00:07:03,960 --> 00:07:09,960 Speaker 1: list him Alabama, Florida State, Penn State, South Carolina. I mean, 127 00:07:10,000 --> 00:07:13,240 Speaker 1: this is big time, real football. What is that process 128 00:07:13,360 --> 00:07:16,640 Speaker 1: like for you, because you're in the industry, you know, 129 00:07:17,040 --> 00:07:19,160 Speaker 1: the underbelly of sports business, you know the n c 130 00:07:19,280 --> 00:07:21,640 Speaker 1: a A, everything that's going on. What was that process 131 00:07:21,680 --> 00:07:24,280 Speaker 1: like for you? Well, you know, the first and foremost, 132 00:07:24,280 --> 00:07:27,080 Speaker 1: you know, I'm a dad and uh so it's either 133 00:07:27,600 --> 00:07:30,760 Speaker 1: you are a little emotional, but I think probably being 134 00:07:30,760 --> 00:07:34,760 Speaker 1: from the sports business, I have a a good understanding 135 00:07:34,800 --> 00:07:37,040 Speaker 1: of kind of keeping your feet on the ground and 136 00:07:37,080 --> 00:07:39,920 Speaker 1: really what the what the future entails here, So I'd 137 00:07:39,960 --> 00:07:43,800 Speaker 1: say probably it's been helpful in grounding my son. It's 138 00:07:43,840 --> 00:07:47,920 Speaker 1: hard for these young kids when everyone tells you how 139 00:07:47,920 --> 00:07:52,160 Speaker 1: wonderful you are, to uh to maybe stay on the ground, right. 140 00:07:52,240 --> 00:07:54,320 Speaker 1: I always say, like, look at fifty year old CEOs 141 00:07:54,440 --> 00:07:57,680 Speaker 1: have a hard time staying grounded. When a kid is 142 00:07:58,240 --> 00:08:01,400 Speaker 1: told routinely how talent they are, it's hard. It can 143 00:08:01,440 --> 00:08:03,360 Speaker 1: be hard to stay grounded. And I do think kind 144 00:08:03,360 --> 00:08:05,679 Speaker 1: of having the experience of being in the sports business 145 00:08:06,200 --> 00:08:08,920 Speaker 1: has been helpful from that standpoint. And I think I've 146 00:08:08,920 --> 00:08:10,760 Speaker 1: told you this before, but you know, my dad played 147 00:08:10,800 --> 00:08:12,520 Speaker 1: in the NFL, and my granddad played in the NFL, 148 00:08:12,520 --> 00:08:14,880 Speaker 1: and my brother played in the NFL. My father in 149 00:08:14,920 --> 00:08:18,320 Speaker 1: laws in the PJA Hall of Fame. So we're pretty uh, 150 00:08:18,320 --> 00:08:21,440 Speaker 1: we take a pretty pragmatic view to to all of it. 151 00:08:21,520 --> 00:08:25,000 Speaker 1: But I'm proud of my son. He offered in eighth grade, 152 00:08:25,480 --> 00:08:28,400 Speaker 1: um and so he is that insane George that he 153 00:08:28,440 --> 00:08:31,760 Speaker 1: got offered? Is that insane? Well, it is what it is, 154 00:08:31,840 --> 00:08:33,800 Speaker 1: and and he was not the only guy. But but 155 00:08:33,880 --> 00:08:36,880 Speaker 1: what it does bring is a lot of challenges. Um. 156 00:08:37,000 --> 00:08:40,080 Speaker 1: And so when he plays, and he's played two years 157 00:08:40,080 --> 00:08:43,240 Speaker 1: in high school as a freshman and a sophomore, and 158 00:08:44,240 --> 00:08:47,600 Speaker 1: you know, there's no secret, So wherever he goes, everybody 159 00:08:47,640 --> 00:08:51,200 Speaker 1: knows who he is, and it creates a lot of challenges. 160 00:08:51,240 --> 00:08:53,800 Speaker 1: And I'm very proud of the way he's handled himself, 161 00:08:54,520 --> 00:08:58,760 Speaker 1: um in in in and performed under really a real microscope, 162 00:08:58,800 --> 00:09:02,040 Speaker 1: and I think, you know, well presents challenges. I think 163 00:09:02,040 --> 00:09:04,240 Speaker 1: those challenges when he goes to Notre Dame will be 164 00:09:04,280 --> 00:09:06,880 Speaker 1: the same. And so I think what Notre Dame is 165 00:09:06,880 --> 00:09:09,120 Speaker 1: gonna get from my son Drew with somebody that for 166 00:09:09,240 --> 00:09:12,720 Speaker 1: four years has lived under a microscope of a lot 167 00:09:12,760 --> 00:09:15,120 Speaker 1: of intensity. And you know, we play in a town 168 00:09:15,120 --> 00:09:18,800 Speaker 1: in New Cana, Connecticut. That's one nine state championships in 169 00:09:18,880 --> 00:09:21,760 Speaker 1: thirteen years. He started as a freshman, they won the 170 00:09:21,800 --> 00:09:24,280 Speaker 1: state championship, and there was a lot He's the only 171 00:09:24,320 --> 00:09:26,800 Speaker 1: freshman ever to start a New Cayman high school, So 172 00:09:26,840 --> 00:09:29,880 Speaker 1: there's a lot of there's been a lot of intensity. 173 00:09:29,960 --> 00:09:32,000 Speaker 1: You know, he had a game as freshman year. They 174 00:09:32,000 --> 00:09:36,200 Speaker 1: sold all the tickets to the game in thirty seven minutes, um, 175 00:09:36,360 --> 00:09:38,839 Speaker 1: so they you know, he's it's been a good experience 176 00:09:38,880 --> 00:09:42,000 Speaker 1: for him. But it's not easy. Uh. And I always say, 177 00:09:42,040 --> 00:09:44,200 Speaker 1: no matter what it is, business, sports, life, you know, 178 00:09:44,320 --> 00:09:48,120 Speaker 1: success creates other challenges. And I'm very proud of him. 179 00:09:48,520 --> 00:09:50,480 Speaker 1: If you read anything about him, people talk about how 180 00:09:50,559 --> 00:09:53,720 Speaker 1: humbly is He's a humble kid who, um, you know 181 00:09:53,880 --> 00:09:56,640 Speaker 1: who who's who's trying to do his best. So we're 182 00:09:56,679 --> 00:09:59,240 Speaker 1: proud of him. It's been a unique experience, and we 183 00:09:59,280 --> 00:10:02,240 Speaker 1: have two more years left at New Canaan, so hopefully 184 00:10:02,240 --> 00:10:04,400 Speaker 1: we'll have two more good years and then off to 185 00:10:04,480 --> 00:10:06,880 Speaker 1: South Bend. Unbelievable that I don't want to harp too 186 00:10:06,960 --> 00:10:09,640 Speaker 1: much on it, but at the dinner table conversation, is 187 00:10:09,640 --> 00:10:11,679 Speaker 1: there the Ed O'Bannon talk. I mean, you were at 188 00:10:11,720 --> 00:10:14,680 Speaker 1: IMG and part of I MG was IMG college. Does 189 00:10:14,720 --> 00:10:17,800 Speaker 1: he understand? And I'm sure he does the big business 190 00:10:17,840 --> 00:10:20,920 Speaker 1: that is college football. Now, you know what he's he's 191 00:10:20,960 --> 00:10:24,960 Speaker 1: more focused, He's not really focused on that. UM. I 192 00:10:24,960 --> 00:10:27,319 Speaker 1: think he's really more focused on trying to get better, 193 00:10:27,360 --> 00:10:29,640 Speaker 1: and we focus on that. You know, he's going to 194 00:10:29,720 --> 00:10:32,400 Speaker 1: have to compete, and you know, Notre Dame is on 195 00:10:32,520 --> 00:10:36,600 Speaker 1: national TV every week they have than they've filled out 196 00:10:36,679 --> 00:10:40,960 Speaker 1: every game since nineteen four and so he knows that 197 00:10:41,040 --> 00:10:42,680 Speaker 1: he's going into going to be in a place that 198 00:10:42,760 --> 00:10:45,520 Speaker 1: has a big, big spotlight. But as you mentioned, he 199 00:10:45,559 --> 00:10:48,800 Speaker 1: was probably going to one of those places anyway. And 200 00:10:48,800 --> 00:10:50,560 Speaker 1: and I think the part of Your Dame is obviously 201 00:10:50,600 --> 00:10:53,679 Speaker 1: the education and the opportunities after college that I think 202 00:10:53,679 --> 00:10:57,080 Speaker 1: we're pretty attractive to him. Well, prayers and support that 203 00:10:57,320 --> 00:11:00,559 Speaker 1: after Notre Dame that he goes to the next level 204 00:11:00,640 --> 00:11:02,719 Speaker 1: and takes it to the NFL. So I always have 205 00:11:02,840 --> 00:11:05,480 Speaker 1: my fingers crossed and support for him. Yeah, well, thank 206 00:11:05,480 --> 00:11:08,679 Speaker 1: you very much. And Scott mentioned that you were with 207 00:11:08,880 --> 00:11:12,520 Speaker 1: I MG and before that, which you were connected to 208 00:11:12,600 --> 00:11:16,040 Speaker 1: something near and dear to my heart, you were with NASCAR. 209 00:11:16,080 --> 00:11:19,600 Speaker 1: In fact, you were the second non family member in 210 00:11:19,640 --> 00:11:23,079 Speaker 1: the company's history to join its board of directors. Can 211 00:11:23,120 --> 00:11:25,560 Speaker 1: you take us through that about the NASCAR experience in 212 00:11:25,559 --> 00:11:27,559 Speaker 1: your life. Oh, it's a great experience. And when I 213 00:11:27,600 --> 00:11:31,280 Speaker 1: went to NASCAR, a lot of people don't remember it 214 00:11:31,360 --> 00:11:33,760 Speaker 1: was really called Winston Cup Race. Oh, I trust me, 215 00:11:34,960 --> 00:11:37,080 Speaker 1: George Georgia. I don't know if you listen to the 216 00:11:37,080 --> 00:11:39,280 Speaker 1: podcast all the time, but we have some fun here. 217 00:11:39,679 --> 00:11:42,880 Speaker 1: Michael Barr is the die hard NASCAR guy and I'm 218 00:11:42,920 --> 00:11:45,400 Speaker 1: sort of your stereotype New Yorker. I don't have too 219 00:11:45,480 --> 00:11:48,600 Speaker 1: much about it. Yeah, no, look, I mean I loved Nascar. 220 00:11:48,920 --> 00:11:51,680 Speaker 1: I loved the people. It was probably one of the 221 00:11:51,679 --> 00:11:55,959 Speaker 1: greatest experiences of my life. We had sixteen races on 222 00:11:56,000 --> 00:11:58,679 Speaker 1: the Nashville Network. We had one offense and it was 223 00:11:58,679 --> 00:12:02,600 Speaker 1: called Winston Cup Racing and primarily Auto monot of aftermarket 224 00:12:02,720 --> 00:12:05,960 Speaker 1: sponsors and uh, you know, had a great tenure run. 225 00:12:06,000 --> 00:12:08,880 Speaker 1: When we left the Sun, NBC and Fox, and we 226 00:12:08,920 --> 00:12:12,600 Speaker 1: had Nextel as a sponsor. Um, we were moved out 227 00:12:12,640 --> 00:12:15,360 Speaker 1: of the southeast to have become more national. But I 228 00:12:15,440 --> 00:12:17,640 Speaker 1: think that's the thing I take away from NASCAR was 229 00:12:17,679 --> 00:12:21,520 Speaker 1: just those those drivers are nice guys, and the people 230 00:12:21,600 --> 00:12:24,520 Speaker 1: as a whole are just really nice people. And I 231 00:12:24,559 --> 00:12:27,000 Speaker 1: have to tell you that when I wasn't necessarily a 232 00:12:27,000 --> 00:12:31,280 Speaker 1: car expert, so but when I left NASCAR, I cried. 233 00:12:31,320 --> 00:12:33,079 Speaker 1: I mean I was four years old. I felt like 234 00:12:33,120 --> 00:12:35,440 Speaker 1: I had to go do something else. But I loved 235 00:12:35,559 --> 00:12:38,559 Speaker 1: the sport. I loved the people, and they were great guys. 236 00:12:38,559 --> 00:12:41,360 Speaker 1: I mean Dale Earnhardt Senior. I was there when Jeff 237 00:12:41,360 --> 00:12:45,319 Speaker 1: Gordon and our senior are really going at it, and uh, 238 00:12:45,440 --> 00:12:48,600 Speaker 1: Senior was a really interesting guy, but a great guy 239 00:12:49,040 --> 00:12:50,680 Speaker 1: and a fun guy to be around. And you know, 240 00:12:51,240 --> 00:12:54,559 Speaker 1: he was the eighth grade educated and did really well financially. 241 00:12:54,559 --> 00:12:57,880 Speaker 1: He was really a stupid businessman. And it was fun. 242 00:12:57,920 --> 00:12:59,839 Speaker 1: It was just a lot of fun. And the people 243 00:13:00,160 --> 00:13:04,080 Speaker 1: there are as good as they appear. We're talking with 244 00:13:04,120 --> 00:13:07,960 Speaker 1: George Pine, the global business executive and founder of Bruins 245 00:13:08,000 --> 00:13:11,000 Speaker 1: Sports Capital. I'm about to give away that I'm about 246 00:13:11,040 --> 00:13:14,160 Speaker 1: a mile away from the Poker No Raceway where I live, 247 00:13:14,800 --> 00:13:17,440 Speaker 1: and I have to tell you is that I remember 248 00:13:17,880 --> 00:13:22,080 Speaker 1: those races when you Dale Earnhardt Senior and and Jeremy 249 00:13:22,120 --> 00:13:25,720 Speaker 1: Mayfield and and Mayfield moves earn Heard out of the 250 00:13:25,720 --> 00:13:28,760 Speaker 1: way on the turn three and the crowd is going 251 00:13:28,880 --> 00:13:32,240 Speaker 1: wild and all of us. That was an exciting time. 252 00:13:32,240 --> 00:13:34,000 Speaker 1: In fact, I guess if you want to call it, 253 00:13:34,040 --> 00:13:38,440 Speaker 1: maybe it was the Heyday. But unfortunately NASCAR has has 254 00:13:38,480 --> 00:13:41,200 Speaker 1: fallen back a bit. What what do you see as 255 00:13:41,240 --> 00:13:45,640 Speaker 1: some of the reasons why maybe the viewers ship has decline. Well, 256 00:13:45,679 --> 00:13:47,280 Speaker 1: I think that when you look back on it, I 257 00:13:47,360 --> 00:13:51,000 Speaker 1: think that that the fan base during the last economic downfall, 258 00:13:51,360 --> 00:13:55,040 Speaker 1: you know, probably got hard hit harder than most, and 259 00:13:55,120 --> 00:13:58,400 Speaker 1: so I think that's had an impact on this on NASCAR. 260 00:13:58,640 --> 00:14:01,840 Speaker 1: I think the in the car tomorrow, when you look 261 00:14:01,880 --> 00:14:05,080 Speaker 1: back on it, probably didn't help. And I also think, 262 00:14:05,120 --> 00:14:07,600 Speaker 1: you know, just as we look into the sports business 263 00:14:07,679 --> 00:14:10,400 Speaker 1: as a whole, um, I think you have to wonder 264 00:14:10,640 --> 00:14:14,120 Speaker 1: did they really focus enough on the core fan? And 265 00:14:14,200 --> 00:14:16,920 Speaker 1: so that to me, you know, especially with a change 266 00:14:16,920 --> 00:14:21,320 Speaker 1: in media consumption, the core fan is really what pays 267 00:14:21,360 --> 00:14:24,720 Speaker 1: the light bills for every sport. And so you know 268 00:14:24,760 --> 00:14:27,360 Speaker 1: the question is that, you know, did they balance enough 269 00:14:27,400 --> 00:14:31,080 Speaker 1: the needs of the core fan versus the growth needs? 270 00:14:31,680 --> 00:14:35,160 Speaker 1: And when somebody you know stops watching something four hours 271 00:14:35,200 --> 00:14:37,760 Speaker 1: on Sundays, you know, when you get four hours back 272 00:14:37,800 --> 00:14:40,920 Speaker 1: on a Sunday, you probably don't miss whatever it is 273 00:14:40,960 --> 00:14:43,680 Speaker 1: you're doing for those four hours. Or you know, when 274 00:14:43,720 --> 00:14:45,920 Speaker 1: you think about some of the hotel back in the day, 275 00:14:46,000 --> 00:14:49,840 Speaker 1: the hotel night minimums or they're having to buy you know, 276 00:14:49,960 --> 00:14:53,320 Speaker 1: five racists to really get one. And then when you know, 277 00:14:53,320 --> 00:14:55,320 Speaker 1: the economy comes in and you don't go anymore and 278 00:14:55,360 --> 00:14:58,600 Speaker 1: you get four or five weekends back. Um, you know, 279 00:14:58,640 --> 00:15:00,320 Speaker 1: I think that I think that had a lot to 280 00:15:00,320 --> 00:15:03,160 Speaker 1: do with it. Um. I went to the race last 281 00:15:03,240 --> 00:15:06,440 Speaker 1: year at the Brickyard four hundred and you know they 282 00:15:06,560 --> 00:15:09,240 Speaker 1: we used to count the seats there, that's how we 283 00:15:09,880 --> 00:15:12,400 Speaker 1: charged the race tracks there the sanction fee, and there 284 00:15:12,400 --> 00:15:15,800 Speaker 1: were there were two hundred thousand, two d sixty seats 285 00:15:15,840 --> 00:15:19,600 Speaker 1: and last year I think they had fifty people attend 286 00:15:19,600 --> 00:15:21,920 Speaker 1: the race. That was the announced attendance of how the 287 00:15:21,960 --> 00:15:25,600 Speaker 1: real attendance was was less. That's some bad optics right there. Yeah, 288 00:15:25,640 --> 00:15:28,920 Speaker 1: And so when you have that kind of change, something 289 00:15:29,040 --> 00:15:33,480 Speaker 1: at the core is missing. And so I think that 290 00:15:33,720 --> 00:15:37,160 Speaker 1: I know, obviously I'm not there, but to me, there's 291 00:15:37,200 --> 00:15:40,480 Speaker 1: been some type of disconnect with the core fan and 292 00:15:40,520 --> 00:15:43,320 Speaker 1: I think that's at a large part of the challenge. 293 00:15:43,600 --> 00:15:46,200 Speaker 1: We are chatting with George Pine, founder of Bruin Sports Capital, 294 00:15:46,400 --> 00:15:48,800 Speaker 1: and George looks like the France families out there looking 295 00:15:48,840 --> 00:15:51,960 Speaker 1: for a at least an investor looking to shed a 296 00:15:52,040 --> 00:15:55,760 Speaker 1: minority stake in NASCAR. You can get money from anywhere. 297 00:15:56,080 --> 00:15:57,920 Speaker 1: Is this important in that they can bring on a 298 00:15:57,960 --> 00:16:01,960 Speaker 1: strategic partner that can help them where they need it most. Yes, 299 00:16:02,040 --> 00:16:03,680 Speaker 1: I think, you know, I think we need you know, 300 00:16:03,720 --> 00:16:06,560 Speaker 1: it's been rumored about Comcast. I think Comcast would be 301 00:16:06,600 --> 00:16:10,440 Speaker 1: an excellent strategic partner. I think one obviously, they own 302 00:16:10,440 --> 00:16:12,960 Speaker 1: a they own a network, they own a cable network, 303 00:16:13,360 --> 00:16:17,320 Speaker 1: they own regional sports networks, they own theme parks. So 304 00:16:17,360 --> 00:16:20,800 Speaker 1: I think they would be a terrific strategic partner and 305 00:16:20,920 --> 00:16:24,680 Speaker 1: probably exactly what the sport needs at this at this juncture. 306 00:16:24,720 --> 00:16:28,120 Speaker 1: So I think that is one way to accelerate growth 307 00:16:29,080 --> 00:16:32,680 Speaker 1: for the sport, and obviously for someone like Comcast, they'll 308 00:16:32,720 --> 00:16:35,600 Speaker 1: own content, and so I think that that would be 309 00:16:35,760 --> 00:16:38,560 Speaker 1: something like that would really be make a lot of sense. 310 00:16:38,840 --> 00:16:40,640 Speaker 1: You're making it too easy for me, George. If you 311 00:16:40,680 --> 00:16:43,400 Speaker 1: just mentioned the words Comcasting, R S n S. We 312 00:16:43,480 --> 00:16:47,640 Speaker 1: have a titanic shifting here in the media world in solidation. 313 00:16:47,680 --> 00:16:50,840 Speaker 1: So if I say Comcast and Disney and Fox and 314 00:16:51,080 --> 00:16:55,640 Speaker 1: R S n S, you say, what, Well, it's it's 315 00:16:55,800 --> 00:16:58,440 Speaker 1: very It's you are right, it's a very interesting time 316 00:16:58,600 --> 00:17:03,240 Speaker 1: because obviously now if Disney buys and buys Fox, they're 317 00:17:03,240 --> 00:17:05,360 Speaker 1: going to have to let go of those twenty two 318 00:17:05,400 --> 00:17:10,200 Speaker 1: regional sports networks, which today are huge cash flow generators 319 00:17:10,200 --> 00:17:13,840 Speaker 1: of cash uh and in many cases generators generators of 320 00:17:13,880 --> 00:17:18,760 Speaker 1: cash for for teams. Those regional sports networks also, you know, 321 00:17:19,000 --> 00:17:22,639 Speaker 1: contribute to the evaluation of a lot of these teams, 322 00:17:22,760 --> 00:17:27,480 Speaker 1: and they would appear also to be the first break 323 00:17:27,520 --> 00:17:30,280 Speaker 1: in the armor and the change in terms of media 324 00:17:30,320 --> 00:17:33,720 Speaker 1: consumption and the disruption of the cable model you would 325 00:17:33,720 --> 00:17:38,400 Speaker 1: think would first appear in the regional sports networks. And 326 00:17:38,640 --> 00:17:40,199 Speaker 1: the last part I'd say is a lot of the 327 00:17:40,200 --> 00:17:43,679 Speaker 1: regional sports networks have long term deals, so well, the 328 00:17:43,760 --> 00:17:47,960 Speaker 1: distribution model might change. They have long term rights so 329 00:17:48,880 --> 00:17:52,040 Speaker 1: that so that it's an interesting asset. So, really have 330 00:17:52,119 --> 00:17:55,560 Speaker 1: assets out there, generates a lot of cash, most of 331 00:17:55,560 --> 00:17:59,440 Speaker 1: them have long term rights. The the economic model is 332 00:17:59,440 --> 00:18:03,000 Speaker 1: going to change age who's going to buy it? Well, 333 00:18:03,040 --> 00:18:05,080 Speaker 1: that was the next question, because that's what I'm getting from. 334 00:18:05,280 --> 00:18:07,200 Speaker 1: I mean, I have people at Fox calling me saying, 335 00:18:07,400 --> 00:18:09,280 Speaker 1: what are you hearing? What are you hearing? Who's buying 336 00:18:09,320 --> 00:18:12,320 Speaker 1: so many us? Did you see private equity involved? Do 337 00:18:12,400 --> 00:18:14,560 Speaker 1: you see media companies? Who do you see as the 338 00:18:14,680 --> 00:18:18,080 Speaker 1: likely buyer for those r s? Well, it's interesting. I 339 00:18:18,080 --> 00:18:19,639 Speaker 1: think it could be all day, But I think you 340 00:18:19,680 --> 00:18:24,240 Speaker 1: could see Comcast maybe buy them if if Disney has 341 00:18:24,280 --> 00:18:27,240 Speaker 1: to sell them, I think you could see private equity 342 00:18:27,240 --> 00:18:30,439 Speaker 1: by them. I think you could see, uh, maybe some 343 00:18:30,520 --> 00:18:32,639 Speaker 1: of the teams take back the rights or one of 344 00:18:32,720 --> 00:18:35,680 Speaker 1: the teams buy them back by private equity. I mean, 345 00:18:35,720 --> 00:18:39,320 Speaker 1: I think any and all you know are apostle because 346 00:18:39,359 --> 00:18:41,800 Speaker 1: they do throw off a lot of cash right now, 347 00:18:42,359 --> 00:18:45,679 Speaker 1: and so you know there's there, there's a there's an 348 00:18:45,720 --> 00:18:48,440 Speaker 1: absolute value there, and then there's a strategic value because 349 00:18:48,440 --> 00:18:52,399 Speaker 1: those are very valuable rights in the local market, and 350 00:18:52,480 --> 00:18:56,440 Speaker 1: they are a very valuable way to connect consumers directly 351 00:18:56,760 --> 00:18:59,760 Speaker 1: to a passion point that they like. So I think 352 00:19:00,000 --> 00:19:02,359 Speaker 1: probably that in America right now, that's probably one of 353 00:19:02,359 --> 00:19:06,360 Speaker 1: the most fascinating items in front of us. What happens 354 00:19:06,359 --> 00:19:09,960 Speaker 1: to those regional sports networks. We're talking with George Pine, 355 00:19:10,040 --> 00:19:14,040 Speaker 1: the global business executive and founder of Brewins Sports Capital, 356 00:19:14,359 --> 00:19:17,119 Speaker 1: which brings me to my next question. Tell us about 357 00:19:17,240 --> 00:19:19,679 Speaker 1: Bruin Sports Capitals. What what do you do in this? 358 00:19:20,359 --> 00:19:22,800 Speaker 1: So we invest in in in global in the global 359 00:19:22,800 --> 00:19:28,680 Speaker 1: sports economy. We operate today in uh five continents, eleven countries, 360 00:19:29,080 --> 00:19:32,159 Speaker 1: and we work with almost every major federation in the 361 00:19:32,200 --> 00:19:36,240 Speaker 1: world in various capacities. And we've made investments really in 362 00:19:36,280 --> 00:19:41,000 Speaker 1: live events, UH sports media and technology and then UH 363 00:19:41,240 --> 00:19:44,480 Speaker 1: fanning what I call fan engagement or marketing companies that 364 00:19:44,840 --> 00:19:48,800 Speaker 1: engage sports fans and our portfolio companies. I think we 365 00:19:48,880 --> 00:19:53,000 Speaker 1: have forty forty five offices around the world, and uh, 366 00:19:53,040 --> 00:19:56,199 Speaker 1: you know, we're we're at the intersection between sports fans 367 00:19:56,920 --> 00:19:59,879 Speaker 1: and the people that bring that content to the fans. 368 00:20:00,600 --> 00:20:04,160 Speaker 1: What's better live or on TV? George, Well, I think both. 369 00:20:04,280 --> 00:20:06,359 Speaker 1: I mean, so you know, we we own a company 370 00:20:06,400 --> 00:20:09,760 Speaker 1: called Delta Trade that works with UEFA and for the 371 00:20:09,760 --> 00:20:13,119 Speaker 1: European Football Championships, we have forty six cameras on the 372 00:20:13,119 --> 00:20:16,960 Speaker 1: pitch and the user can pick the camera, angle, can 373 00:20:17,040 --> 00:20:20,160 Speaker 1: pull up their own stats, pick their own graphics package. 374 00:20:20,520 --> 00:20:23,360 Speaker 1: So I think that's one heck of a viewing experience. 375 00:20:24,119 --> 00:20:26,760 Speaker 1: And you know, it's hard to beat a great live event, 376 00:20:26,960 --> 00:20:30,800 Speaker 1: So I think I think both experiences are terrific. And 377 00:20:30,840 --> 00:20:33,960 Speaker 1: I think in a world where media is going to 378 00:20:34,040 --> 00:20:38,200 Speaker 1: become more and more fragmented, events that can get somebody 379 00:20:38,200 --> 00:20:40,119 Speaker 1: to get out of the seat of their car and 380 00:20:40,160 --> 00:20:43,040 Speaker 1: in there, out of their house and go somewhere and 381 00:20:43,160 --> 00:20:46,080 Speaker 1: engage something, I think events in the future are going 382 00:20:46,119 --> 00:20:49,600 Speaker 1: to have a high value. So I think again, we're 383 00:20:49,600 --> 00:20:53,560 Speaker 1: investing in the change in media. So we do all 384 00:20:53,560 --> 00:20:56,359 Speaker 1: we're all parts of the value change. We work on it. 385 00:20:56,400 --> 00:20:59,840 Speaker 1: We provide the technology for every screen. That's one company 386 00:20:59,840 --> 00:21:02,840 Speaker 1: in Another company is live events, because I think live 387 00:21:02,880 --> 00:21:06,119 Speaker 1: events become more valuable going forward. So we've invested in. 388 00:21:06,480 --> 00:21:09,520 Speaker 1: We believe media is changing and we're trying to be 389 00:21:09,600 --> 00:21:12,720 Speaker 1: at the intersection of that change and realize and create 390 00:21:12,800 --> 00:21:17,520 Speaker 1: value in the change is the premium experience where the 391 00:21:17,720 --> 00:21:22,120 Speaker 1: live experience is headed. That's where I'm hearing a lot 392 00:21:22,160 --> 00:21:25,200 Speaker 1: of owners and team executives tell me they think that 393 00:21:25,280 --> 00:21:27,800 Speaker 1: they can make the most money and bring the most 394 00:21:27,800 --> 00:21:30,240 Speaker 1: people out and get the best R O Y with 395 00:21:30,320 --> 00:21:33,440 Speaker 1: a premium product, whether that's club suites, whatever it might be, 396 00:21:33,520 --> 00:21:37,160 Speaker 1: but the premium experience not Section four. Yeah, I think 397 00:21:37,240 --> 00:21:40,000 Speaker 1: I think probably the days there will always be a 398 00:21:40,000 --> 00:21:43,080 Speaker 1: Section four hundred, But I think that in order to 399 00:21:43,280 --> 00:21:47,639 Speaker 1: better engage, create better experience, and to increase more value 400 00:21:47,640 --> 00:21:49,720 Speaker 1: and profit, it really is going to be in the 401 00:21:49,760 --> 00:21:54,880 Speaker 1: premium experience. So and that could be bigger seats, better concessions, 402 00:21:54,880 --> 00:21:58,439 Speaker 1: but also better interaction. And of course, you know with 403 00:21:58,560 --> 00:22:01,800 Speaker 1: the gambling coming on as well, Uh they're gonna have you. 404 00:22:01,960 --> 00:22:03,400 Speaker 1: You know you're gonna be able to is it a ball, 405 00:22:03,440 --> 00:22:05,520 Speaker 1: as it a strike? Is it gonna make the put? 406 00:22:05,880 --> 00:22:08,520 Speaker 1: Not make the put? What passes are they going to run? 407 00:22:08,560 --> 00:22:11,280 Speaker 1: Are they going to pass? Uh? These things are going 408 00:22:11,320 --> 00:22:16,800 Speaker 1: to even further engage that experience in the venue in 409 00:22:16,960 --> 00:22:20,120 Speaker 1: at home. But again I do think that just saying hey, 410 00:22:20,280 --> 00:22:23,720 Speaker 1: your your seats are in section four, there's probably less 411 00:22:23,720 --> 00:22:28,160 Speaker 1: of that and more of creating great experiences with your 412 00:22:28,200 --> 00:22:31,920 Speaker 1: friends around a passion point. I don't see how anybody 413 00:22:31,920 --> 00:22:33,680 Speaker 1: can beat that. When you can bring up your own 414 00:22:33,800 --> 00:22:36,600 Speaker 1: graphics to any sport that you want, and like you said, 415 00:22:36,680 --> 00:22:40,439 Speaker 1: especially with sports betting, whatever I want to bring up, 416 00:22:40,840 --> 00:22:43,440 Speaker 1: I can do that. And and just like Scott said, 417 00:22:43,960 --> 00:22:47,320 Speaker 1: Section four hundred is going by the wayside. So what 418 00:22:47,320 --> 00:22:50,359 Speaker 1: what happens there? I mean it's is that for the 419 00:22:50,440 --> 00:22:52,960 Speaker 1: fan who really can't afford to go to some of 420 00:22:52,960 --> 00:22:55,919 Speaker 1: these events, are they in big trouble? I don't know 421 00:22:55,960 --> 00:22:58,600 Speaker 1: that they're big trouble. I mean, you know, if you 422 00:22:58,640 --> 00:23:00,840 Speaker 1: watch your Western, you know might want to go ride 423 00:23:00,840 --> 00:23:02,720 Speaker 1: a horse if you can. So to me, I think 424 00:23:02,760 --> 00:23:05,720 Speaker 1: if I'm viewing something, I'm passionate behind it. I want 425 00:23:05,760 --> 00:23:08,760 Speaker 1: to go to the live event. But with the technology 426 00:23:08,920 --> 00:23:11,600 Speaker 1: at home being what it is, the Scott's point, I 427 00:23:11,640 --> 00:23:13,800 Speaker 1: think that live event experience is going to have to 428 00:23:13,800 --> 00:23:15,960 Speaker 1: be a lot more and it's gonna have to be 429 00:23:16,000 --> 00:23:19,560 Speaker 1: a lot more special to continue to have that interest. 430 00:23:19,760 --> 00:23:22,400 Speaker 1: And I think you're gonna also even for the fan 431 00:23:22,480 --> 00:23:25,879 Speaker 1: in section, you're going to have to provide him things 432 00:23:26,160 --> 00:23:29,479 Speaker 1: or her things that hadn't been provided before, you know, 433 00:23:29,560 --> 00:23:33,600 Speaker 1: training camp, personalized content and the one thing, you know, 434 00:23:33,600 --> 00:23:36,560 Speaker 1: we're we're broadcasting the games. We have a business game 435 00:23:36,640 --> 00:23:40,840 Speaker 1: with the NFL called game Pass, and we are selling subscriptions, uh, 436 00:23:41,240 --> 00:23:43,560 Speaker 1: one person at a time. And I've been pretty involved 437 00:23:43,560 --> 00:23:47,000 Speaker 1: in that myself. And what you're seeing there is, you know, 438 00:23:47,160 --> 00:23:50,600 Speaker 1: today you're selling uh the rights the rights to watch 439 00:23:50,680 --> 00:23:53,879 Speaker 1: these NFL games in Europe, one consumer at a time, 440 00:23:54,640 --> 00:23:57,480 Speaker 1: and so we know when we're talking to a consumer 441 00:23:57,600 --> 00:24:01,000 Speaker 1: at what price point, bill transact and we change the 442 00:24:01,040 --> 00:24:05,360 Speaker 1: advertising on the hour, and so it's a very customized sale. 443 00:24:05,880 --> 00:24:08,320 Speaker 1: And I think that's the future. Whether that's a season 444 00:24:08,359 --> 00:24:11,880 Speaker 1: tickets or any communication with someone that's got a passion 445 00:24:11,920 --> 00:24:15,840 Speaker 1: point around a sport. That's the future. So even the 446 00:24:15,880 --> 00:24:19,520 Speaker 1: guy in section four hundred, ten years from now, a 447 00:24:19,560 --> 00:24:21,520 Speaker 1: team is going to have a dialogue with that guy 448 00:24:22,119 --> 00:24:25,640 Speaker 1: almost on a daily basis, communicating with him, knowing what 449 00:24:25,680 --> 00:24:28,520 Speaker 1: that person likes. And that's why I think going forward, 450 00:24:28,560 --> 00:24:34,280 Speaker 1: the data management and understanding data and understanding the psychographics 451 00:24:34,280 --> 00:24:37,080 Speaker 1: and demographics of your fan base is going to become 452 00:24:37,119 --> 00:24:40,879 Speaker 1: more important to create a better experience in relationship for 453 00:24:40,960 --> 00:24:43,720 Speaker 1: the guy in you know, section four hundred, and for 454 00:24:43,800 --> 00:24:47,359 Speaker 1: the guy that can afford the the incredible experience. You're 455 00:24:47,400 --> 00:24:50,159 Speaker 1: going to have to have a relationship with both of 456 00:24:50,160 --> 00:24:53,320 Speaker 1: those guys to be to maximize the value. I will 457 00:24:53,320 --> 00:24:57,159 Speaker 1: never forget you talk about the technology involved when something 458 00:24:57,320 --> 00:25:00,560 Speaker 1: is televised live and people are watching at home and 459 00:25:00,600 --> 00:25:03,800 Speaker 1: you have so much technology involved. And I remember back 460 00:25:04,160 --> 00:25:08,800 Speaker 1: in the nineteen seventy nine day and this was, oh, 461 00:25:08,880 --> 00:25:11,600 Speaker 1: my lord, no, but but this was my foot, my lord, 462 00:25:11,680 --> 00:25:14,480 Speaker 1: but I know, I know, but this was big when 463 00:25:14,520 --> 00:25:19,560 Speaker 1: they put the camera live in Benny Parson's car and 464 00:25:19,640 --> 00:25:24,520 Speaker 1: you can see Benny Parsons in the car drives No, 465 00:25:24,800 --> 00:25:30,119 Speaker 1: Bennie Parsons, George, George, tell me bar Bar's going off 466 00:25:30,119 --> 00:25:32,080 Speaker 1: on a NASCAR to help me. George, I know I 467 00:25:32,119 --> 00:25:35,480 Speaker 1: can't help it, but my point is that's what it 468 00:25:35,960 --> 00:25:39,640 Speaker 1: has to continue to happen in all forms of sport. 469 00:25:39,920 --> 00:25:41,680 Speaker 1: It helped me out because you don't want to talk 470 00:25:41,720 --> 00:25:46,280 Speaker 1: about and now I just think about the experience through 471 00:25:46,320 --> 00:25:49,199 Speaker 1: technology at home. You're gonna be able to know, you 472 00:25:49,240 --> 00:25:52,040 Speaker 1: know the RPMs, you could really know the tire pressure. 473 00:25:52,560 --> 00:25:54,520 Speaker 1: You could know all the different elements of that. How 474 00:25:54,560 --> 00:25:56,399 Speaker 1: about heart rate? How about heart rate? If i's are 475 00:25:56,440 --> 00:25:58,960 Speaker 1: gonna start wearing monitors I'll know, how are they gonna do? Yeah, 476 00:25:59,080 --> 00:26:00,920 Speaker 1: so you're you're gonna be able to know so much. 477 00:26:01,440 --> 00:26:03,439 Speaker 1: And in the case of NASCAR forward its three cars, 478 00:26:03,760 --> 00:26:06,280 Speaker 1: but that translates the formula one anothers you're gonna know, 479 00:26:06,840 --> 00:26:09,560 Speaker 1: have more information, more data. I mean I have this 480 00:26:09,640 --> 00:26:13,080 Speaker 1: thing too with some of these smaller sports. UM America's 481 00:26:13,119 --> 00:26:15,440 Speaker 1: Cup as an example. You know, they came in. I 482 00:26:15,520 --> 00:26:17,640 Speaker 1: always remember this three or four years ago, and they 483 00:26:17,640 --> 00:26:20,119 Speaker 1: came in, we met with them, and you know, to me, 484 00:26:20,320 --> 00:26:23,760 Speaker 1: sailing kind of was this thing, kind of sailboats and 485 00:26:23,840 --> 00:26:26,720 Speaker 1: maybe not so interesting. You know, now they reinvented their 486 00:26:26,720 --> 00:26:30,280 Speaker 1: product is really cool racing. But think about what digital 487 00:26:30,320 --> 00:26:34,320 Speaker 1: technology does that sports. The co the tides, the currents, 488 00:26:34,400 --> 00:26:37,760 Speaker 1: the winds, um and and bringing that to life digitally 489 00:26:38,200 --> 00:26:41,320 Speaker 1: that makes that a lot more interesting experience. So technology 490 00:26:42,040 --> 00:26:44,680 Speaker 1: is going to also liberate a lot of the smaller 491 00:26:44,840 --> 00:26:48,320 Speaker 1: sports because it's gonna make it more interesting. And with 492 00:26:48,400 --> 00:26:51,679 Speaker 1: the director consumer applications, you know, if you you can 493 00:26:51,720 --> 00:26:54,439 Speaker 1: aggregate a hundred or two hundred thousand people on a 494 00:26:54,480 --> 00:26:57,879 Speaker 1: subscription basis, you know you're in business. Where before that 495 00:26:57,960 --> 00:27:00,439 Speaker 1: sport had to do a time by I put at 496 00:27:00,480 --> 00:27:03,879 Speaker 1: the wrong time really didn't meet to their consumers needs. 497 00:27:03,920 --> 00:27:07,120 Speaker 1: You know, today, if I'm saying the World Surf League, 498 00:27:07,160 --> 00:27:10,320 Speaker 1: you know, you get a hundred two thousand people and 499 00:27:10,359 --> 00:27:13,680 Speaker 1: you're interacting with those people, you know every day through digital. 500 00:27:14,200 --> 00:27:16,639 Speaker 1: It creates new opportunities for those sports. So I think 501 00:27:16,680 --> 00:27:19,320 Speaker 1: big valuity of the endemic sponsors as well. Yes, and 502 00:27:19,359 --> 00:27:23,240 Speaker 1: so I just think the technic technology is a game changer, 503 00:27:23,359 --> 00:27:26,360 Speaker 1: and we're in the early their early innings. And then 504 00:27:26,359 --> 00:27:30,040 Speaker 1: in America, when you throw in the gambling element, you're 505 00:27:30,160 --> 00:27:34,200 Speaker 1: nineteen times more likely to watch an event you're you're 506 00:27:34,200 --> 00:27:37,919 Speaker 1: gambling on than not. And so you know that's certainly 507 00:27:37,960 --> 00:27:40,280 Speaker 1: going to help in terms of viewership. It's certainly going 508 00:27:40,320 --> 00:27:43,200 Speaker 1: to help in terms of sponsorship, meaning you know those 509 00:27:43,200 --> 00:27:46,520 Speaker 1: are gonna be again, those are your core fans. And 510 00:27:46,640 --> 00:27:49,000 Speaker 1: all of this will come back to big data, the 511 00:27:49,040 --> 00:27:53,480 Speaker 1: ability to understand data and use data to engage consumers 512 00:27:53,520 --> 00:27:57,159 Speaker 1: around your product. That's the future for everybody. And sports 513 00:27:57,200 --> 00:28:00,760 Speaker 1: will have an advantage because fans of a pickle sport 514 00:28:01,400 --> 00:28:03,960 Speaker 1: are passionate about it and they're going to engage more 515 00:28:04,520 --> 00:28:06,480 Speaker 1: in the world that's gonna be harder and harder to 516 00:28:06,600 --> 00:28:09,440 Speaker 1: engage people I mean, I've I've got four kids at 517 00:28:09,440 --> 00:28:13,480 Speaker 1: home from fourteen to twenty one. It's hard to engage them. 518 00:28:14,080 --> 00:28:16,800 Speaker 1: And so if you get something that can engage kids 519 00:28:16,960 --> 00:28:20,040 Speaker 1: or people, it's going to be of high value. So 520 00:28:20,080 --> 00:28:22,280 Speaker 1: that that, to me is the future. So we need 521 00:28:22,359 --> 00:28:24,439 Speaker 1: like ten more hours, George, which we don't have. But 522 00:28:24,480 --> 00:28:26,800 Speaker 1: if if sports Radar, sports Radar goes for a two 523 00:28:26,840 --> 00:28:30,680 Speaker 1: point four billion dollar valuation and the media companies will 524 00:28:30,720 --> 00:28:34,520 Speaker 1: get the engagement, is Mark Cuban right that the valuations 525 00:28:34,560 --> 00:28:38,440 Speaker 1: of the teams will double because of this edit engagement 526 00:28:38,560 --> 00:28:43,080 Speaker 1: edit sponsorship value or is that hyperbolic in your opinion? Well, look, 527 00:28:43,880 --> 00:28:46,040 Speaker 1: it will double over some period of time. I mean, 528 00:28:46,160 --> 00:28:49,400 Speaker 1: I think what he I would agree that, are you 529 00:28:49,480 --> 00:28:53,440 Speaker 1: a believer in sports? Sports going to still remain valuable 530 00:28:53,520 --> 00:28:56,320 Speaker 1: over the next ten or twenty years. I think the 531 00:28:56,320 --> 00:28:59,360 Speaker 1: answer to that question is yes, because it's going to 532 00:28:59,440 --> 00:29:03,120 Speaker 1: be engaged large number of consumers. So and if you're 533 00:29:03,240 --> 00:29:06,479 Speaker 1: particularly if you're in the NBA, um you know, I 534 00:29:06,480 --> 00:29:08,840 Speaker 1: think I think if you really feel pretty good about 535 00:29:08,920 --> 00:29:11,920 Speaker 1: about your prospects, but I think every sport I think 536 00:29:12,120 --> 00:29:15,440 Speaker 1: is going to remain valuable. Could there be some changes 537 00:29:15,520 --> 00:29:19,360 Speaker 1: in the way you know when the cable bundle, um, 538 00:29:19,400 --> 00:29:23,080 Speaker 1: you know, it is disrupted eventually, and we can over 539 00:29:23,240 --> 00:29:26,520 Speaker 1: period of time. Could there be some short term turbulence possibly, 540 00:29:26,560 --> 00:29:30,080 Speaker 1: although we haven't really seen any evidence of it, But 541 00:29:30,200 --> 00:29:33,800 Speaker 1: long term, I think sports remains highly valuable. Then how 542 00:29:33,800 --> 00:29:36,240 Speaker 1: what is the competitive landscape? But things that you're looking 543 00:29:36,280 --> 00:29:38,200 Speaker 1: at for Bruin, I mean you're obviously not the only 544 00:29:38,200 --> 00:29:40,840 Speaker 1: one looking up a capital at work in this area. Well, 545 00:29:40,880 --> 00:29:43,680 Speaker 1: I think we we've we've we've invested, like I said, 546 00:29:43,720 --> 00:29:47,360 Speaker 1: in Delta Trey, which it provides the technology for all screens, 547 00:29:47,440 --> 00:29:50,240 Speaker 1: you know, in Courtside, we've made thirty eight investments in 548 00:29:50,280 --> 00:29:55,280 Speaker 1: twenty companies that are all digital or technology companies in sports. 549 00:29:55,280 --> 00:29:59,040 Speaker 1: So we're we're for us, We're investing in the in 550 00:29:59,080 --> 00:30:02,800 Speaker 1: the change we've leave. Media consumption is changing and it's 551 00:30:02,840 --> 00:30:06,800 Speaker 1: going to create real opportunities for investors and that's where 552 00:30:06,960 --> 00:30:10,800 Speaker 1: that's that's how our investments reflect that thesis, along with 553 00:30:11,280 --> 00:30:13,920 Speaker 1: the investment in live events that become more valuable given 554 00:30:14,440 --> 00:30:18,000 Speaker 1: and things that can aggregate big audiences and more valuable. 555 00:30:18,000 --> 00:30:20,880 Speaker 1: So we're investing in the change, and I think investing 556 00:30:20,880 --> 00:30:24,880 Speaker 1: in the changes is exciting, all right, George Pines, founder 557 00:30:24,880 --> 00:30:26,840 Speaker 1: of Bruin Sports Capital. Thank you very much, George for 558 00:30:26,880 --> 00:30:30,560 Speaker 1: the insights my pleasure. Guys, take care takeaways from the 559 00:30:30,560 --> 00:30:35,440 Speaker 1: show where you know where I'm going with this Nascar. Yeah, 560 00:30:35,560 --> 00:30:38,840 Speaker 1: And I don't care if I made fun of because 561 00:30:38,880 --> 00:30:41,560 Speaker 1: I brought up the nineteen seventy nine Day to five 562 00:30:41,640 --> 00:30:48,080 Speaker 1: hundred the technology you had any Parsons, and they had 563 00:30:48,160 --> 00:30:51,400 Speaker 1: the big old camera, nothing like the little pin size 564 00:30:51,440 --> 00:30:54,000 Speaker 1: cameras they have now. The big old camera they had 565 00:30:54,040 --> 00:30:58,240 Speaker 1: in the car and it was inside the cockpit and 566 00:30:58,640 --> 00:31:02,200 Speaker 1: the windshield was getting all oily reaching around with a 567 00:31:02,200 --> 00:31:05,120 Speaker 1: towel to clean up. I mean, that's that's all you had. 568 00:31:05,200 --> 00:31:06,800 Speaker 1: It's like you didn't even have the little white but 569 00:31:06,920 --> 00:31:10,719 Speaker 1: they could automatically do it. But that was exciting nineteen nine. 570 00:31:10,760 --> 00:31:15,880 Speaker 1: And that's my whole point. Technology today makes watching it 571 00:31:16,360 --> 00:31:19,200 Speaker 1: on television big time. Let me get quick before I 572 00:31:19,200 --> 00:31:20,640 Speaker 1: even give a takeaway. I'm just gonna say a couple 573 00:31:20,640 --> 00:31:22,640 Speaker 1: of weeks ago, we were talking about Justin Tuck. I 574 00:31:22,640 --> 00:31:24,840 Speaker 1: screwed up. I said he went to Harvard Business School. 575 00:31:25,080 --> 00:31:28,240 Speaker 1: It was not Harvard. He went to Wharton, So apologies 576 00:31:28,760 --> 00:31:34,760 Speaker 1: to Wharton. That's where Justin Tuck went, it feels better 577 00:31:34,800 --> 00:31:36,480 Speaker 1: to be number one than number five. I'll wear a 578 00:31:36,560 --> 00:31:38,280 Speaker 1: number because of Mike. We have a chance to go 579 00:31:38,360 --> 00:31:40,160 Speaker 1: for three in a row, numbers in a good time. 580 00:31:40,200 --> 00:31:42,320 Speaker 1: When I first started wearing the number, I was just 581 00:31:42,320 --> 00:31:46,360 Speaker 1: happy in Bloomberg Business of Sports the number of the week. 582 00:31:47,960 --> 00:31:50,920 Speaker 1: Time now for the number of the week, and it 583 00:31:51,080 --> 00:31:56,000 Speaker 1: is the number seven for me. I hear twenty seven, 584 00:31:56,000 --> 00:31:57,840 Speaker 1: and the old Islander fan of me, says John Toonnelly, 585 00:31:58,240 --> 00:32:00,160 Speaker 1: and every other Islander fan listening will be like, Hi, 586 00:32:00,240 --> 00:32:02,480 Speaker 1: that was funny we did. This is the week. We 587 00:32:02,520 --> 00:32:06,280 Speaker 1: did not discuss it. Twenty seven, twenty seven time World 588 00:32:06,280 --> 00:32:08,800 Speaker 1: Series champions, New York Yankees. No, okay, then I have 589 00:32:08,840 --> 00:32:16,000 Speaker 1: no idea. Seven of July that's when the final talking 590 00:32:16,040 --> 00:32:20,320 Speaker 1: about E Sports and ESPN and other Disney own channels 591 00:32:20,520 --> 00:32:25,000 Speaker 1: planned to air the final of the Overwatch League on 592 00:32:25,200 --> 00:32:28,440 Speaker 1: July seven. Now, the playoffs are going on right now. 593 00:32:29,120 --> 00:32:32,480 Speaker 1: So ESPN and other Disney owned channels are airing the 594 00:32:32,520 --> 00:32:35,200 Speaker 1: playoffs right now. Well, what the important part here, bar 595 00:32:35,280 --> 00:32:40,120 Speaker 1: you're saying, it's not ESPN, Plus, it's not O T. T. 596 00:32:40,880 --> 00:32:44,680 Speaker 1: This is the mothership E Sports. On the mothership E 597 00:32:44,840 --> 00:32:47,800 Speaker 1: Sports final on the moment. There, there you go. That's 598 00:32:47,840 --> 00:32:51,120 Speaker 1: the big deal here. Now. The other ones Disney XD channel, 599 00:32:51,320 --> 00:32:54,240 Speaker 1: is that they will they'll air it. But other than that, Yes, 600 00:32:54,600 --> 00:32:58,160 Speaker 1: this big news getting big. You've been listening to Bloomberg 601 00:32:58,200 --> 00:33:00,280 Speaker 1: Business of Sports. We are here each and every week 602 00:33:00,320 --> 00:33:02,840 Speaker 1: at the same time, exploring the world of money and sports. 603 00:33:03,080 --> 00:33:06,640 Speaker 1: I'm Michael Barr on Twitter at Big Bar Sports Big Bar, 604 00:33:06,720 --> 00:33:09,040 Speaker 1: and I'm Scott Sashnik. You can follow me on Twitter 605 00:33:09,120 --> 00:33:11,520 Speaker 1: at Sashnik. Thanks for joining us. Please tune in next 606 00:33:11,560 --> 00:33:13,480 Speaker 1: week when we speak with the biggest and brightest in 607 00:33:13,520 --> 00:33:16,960 Speaker 1: the sports business industry. You're listening to Bloomberg Business of 608 00:33:17,000 --> 00:33:20,360 Speaker 1: Sports from Bloomberg Radio around the world and online as 609 00:33:20,360 --> 00:33:22,520 Speaker 1: an Apple podcast on iTunes.