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Speaker 1: Hello, Welcome to the Bloomberg Business of Sports podcast, where

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Speaker 1: we explore some of the big funny issues in the

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Speaker 1: world of sports. I'm Michael Barr, I'm Scarlett and Demien

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Speaker 1: Sassower and we have Mr Bloomberg's own Kim Bassine, and

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Speaker 1: he's talking about a brand new deal about the NBA

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Speaker 1: with the top draft pick and he's signed with Nikes,

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Speaker 1: Jordan's brand. Kim, thank you so much for joining us

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Speaker 1: on the Bloomberg Business of Sports. Of course, well, now

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Speaker 1: this deal, you got to tell me about it. What's

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Speaker 1: what's going on? Every time I turn around, it's like,

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Speaker 1: you know, Nike signing this and signing that. It's like,

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Speaker 1: what's this deal all about? Yeah? This is Paolo Bancaro,

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Speaker 1: the number one pick out of Duke University, was selected

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Speaker 1: by the Orlando Magic in this year's draft. Uh. This

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Speaker 1: year's topic was a little bit in the air. Nobody,

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Speaker 1: nobody really was a lock for it. There was Bancaro,

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Speaker 1: there was chet Holmegren who went to the Thunder at

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Speaker 1: number two, and Jabari Smith who went to Auburn and

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Speaker 1: got selected by the Rockets at three. Any of them

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Speaker 1: could have gone number one. We didn't see someone get

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Speaker 1: signed before the draft like this, but but after that,

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Speaker 1: you know Nike, Nike's Jordan brand was is all in

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Speaker 1: on Polo make Arow. Okay, so number one overall draft

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Speaker 1: pick um so still a college kid basically, and he

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Speaker 1: signed to deal with Nike, which we keep hearing about.

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Speaker 1: I mean, this is going to be more and more

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Speaker 1: pronounced with n I L and everything. But he's signing

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Speaker 1: with Jordan brands. What's the distinction there? Why is that

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Speaker 1: different than just an ordinary deal with Nike. Yeah, Nike

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Speaker 1: has two really really big brands. There's Nike the Swoosh

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Speaker 1: and there's Jordan. Jordan does about five billion in annual

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Speaker 1: revenue at this point. And uh, if you look at

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Speaker 1: all the previous picks that they signed with one of

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Speaker 1: the large sneaker companies, and so you got last year,

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Speaker 1: kid Cunningham went with Nike, Anthony Edwards, the year before

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Speaker 1: with Adidas, Zion Williamson with Jordan's that's the previous big

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Speaker 1: number one pick Jordan's signing, and then now we got

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Speaker 1: this three years later. Yeah, with interesting here Zion back

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Speaker 1: in when he signed, I mean he was represented by

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Speaker 1: c A A. Right, But Ben Carroll is isn't it

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Speaker 1: Lipped Sports. It's Mike Miller, who's a relatively new agency

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Speaker 1: started you know in you know, last year, maybe the

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Speaker 1: year before, only as a what a dozen or so clients,

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Speaker 1: all young or first year NBA players. What's this mean

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Speaker 1: for that organization to get this type of deal done

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Speaker 1: with Jordan Brandt. Oh, that's huge. I feel like a

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Speaker 1: lot was done when he was selected number one. Once

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Speaker 1: you once you get that kind of status, uh, you're

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Speaker 1: gonna be set it. So if you go back even

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Speaker 1: further right, all the number one picks get a sneaker

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Speaker 1: deal that is just not maybe not a sneaker deal,

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Speaker 1: but at least the endorsement deal with a sneaker company.

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Speaker 1: That like, that's going to happen. So if you go

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Speaker 1: further back, you got DeAndre Ayton with Puma, Mark l

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Speaker 1: Faults with Nike, Ben Simmons with Nike, Carl Anthony Towns

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Speaker 1: with Nike, Andrew Wiggins with Adidas. The number one pick

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Speaker 1: is gonna get a deal and that's a that's just

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Speaker 1: a huge win for them. Bronnie James, the son of

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Speaker 1: Lebron James. In high school his senior year, he signed

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Speaker 1: a deal Name Image and likeness endorsement with I. First

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Speaker 1: of all, I wish I can get my high school

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Speaker 1: senior son a deal in sports. Yeah, it's like you

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Speaker 1: you dream for that, it's going into high school now

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Speaker 1: it's I mean, when does it stop? Yeah? The big

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Speaker 1: deals with the pro athletes, these are huge multi year

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Speaker 1: endorsement deals that that often don't happen until you're you're

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Speaker 1: in the pros or at least like you're guaranteed top

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Speaker 1: draft pick or something. But everyone is looking at these

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Speaker 1: prospects earlier than ever, especially now that you can sign

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Speaker 1: and pay talent in college due to the new n

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Speaker 1: C Double A rules implemented last year. Uh Nike, He's

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Speaker 1: no exception there of course, with with this Bronnie James signing,

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Speaker 1: But this is not the only thing that's going on.

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Speaker 1: The mass and I L deals going on in in

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Speaker 1: college are here, and they're they're here here to stay,

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Speaker 1: and they're pervasives throughout the the The entire apparatus and

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Speaker 1: and the whole structure of the n C Double A

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Speaker 1: now has changed because because these kids can can sign

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Speaker 1: these deals, and but the natural progression there is that

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Speaker 1: you look at high school and there's been a few

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Speaker 1: high school athletes who have already signed who they're betting

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Speaker 1: they have either some kind of they have this something

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Speaker 1: maybe they're they're big on social media and have these

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Speaker 1: huge followings, so that kind of no matter what, if

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Speaker 1: someone has two million Instagram followers, you're going to get

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Speaker 1: something out of them, right, even if they don't fully

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Speaker 1: pan out over the next decade. Yeah, it's definitely gonna

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Speaker 1: get attention. And I like how you say it's it's

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Speaker 1: just going younger and younger to high school students. I

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Speaker 1: feel like, UM, an endorsement with a company like Nike

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Speaker 1: is kind of like a starter home for athletes now

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Speaker 1: or younger athletes since we're talking about high school kids

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Speaker 1: or college kids and the more season professionals. UM, they're

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Speaker 1: no longer looking to get an endorsement with Nike and

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Speaker 1: or Gatorade. They're looking instead to get equity and companies

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Speaker 1: and start their own VC fund or VC for a

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Speaker 1: more It's a different level of involvement in business projects. Absolutely,

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Speaker 1: And when you look at the very biggest stars, you know, Lebron, James,

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Speaker 1: Kevin Durant, Jana Santa Kumpo, like you you want that

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Speaker 1: extra step, you want to be involved in the business

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Speaker 1: you want. You want equity in in whatever it is

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Speaker 1: that you're you're getting involved with, not just you know,

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Speaker 1: and and an annual payment that you get because you

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Speaker 1: put your name on something. That that is certainly where

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Speaker 1: we're moving towards. And I think we're all we're already gone.

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Speaker 1: But that again, that's only with the very the very

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Speaker 1: top tier, top tier stars. If you're like a college rower,

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Speaker 1: I don't know if you're you're scoring equity chips because

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Speaker 1: of who you are. If you're just a mid level

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Speaker 1: pro basketball player, would you get deals once you get

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Speaker 1: equity in companies you can Like some of these mid

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Speaker 1: level college players have they make investments, they have venture

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Speaker 1: the sorry pro players, they they have these venture funds,

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Speaker 1: they have uh, their their own little investment firms, and

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Speaker 1: they do get involved in companies sometimes. So Cam, you're

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Speaker 1: absolutely right. Jordan Brands did five billion for the full

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Speaker 1: year ending Uh you know, well it's full year twenty two,

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Speaker 1: but it just ended and that was up seven year

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Speaker 1: over year. Um, talk to me about this deal. What

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Speaker 1: do you think the value of this deal is? I mean,

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Speaker 1: we know what Zion got back in you know, what

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Speaker 1: do you think ben chart was you know, commanding here,

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Speaker 1: And more importantly, this is not a deal for signature shoo.

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Speaker 1: There's a very big difference between getting your own signature too,

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Speaker 1: which you can kind of, you know, inform our audience

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Speaker 1: on what does this mean and what comes next? Yeah,

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Speaker 1: over the past eight eight nine years, I think only

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Speaker 1: Zion Williamson has a signature shoe with one of these companies,

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Speaker 1: and that's because it's such an enormous step between uh,

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Speaker 1: selling a product in commercials or something and selling an

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Speaker 1: actual product with your name on it that that people

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Speaker 1: are gonna want to buy because your name is on it.

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Speaker 1: For Bonkaro, I have no idea how much does this

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Speaker 1: deal those for, but typically these are multi year deals

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Speaker 1: for for the top tier athletes, and that means maybe

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Speaker 1: three years, and you resign after that if everything is

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Speaker 1: going well, and move on to whatever the next step

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Speaker 1: is in that relationship. Tens of are we talking like

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Speaker 1: tens of millions? I really don't can't speculate. So these

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Speaker 1: signature shoes, do we remember or is there an example

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Speaker 1: of a flop where someone did sign a contract or

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Speaker 1: deal for a signature shoe and it just didn't sell

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Speaker 1: at all? For a signature shoe. I don't think so.

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Speaker 1: There's there's so much work market research done before they

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Speaker 1: take that leap. But uh, then you look at how

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Speaker 1: much they want to expand that beyond um, just having

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Speaker 1: one or two shoes is less than a whole line

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Speaker 1: where Jordan brand is the is the very best example

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Speaker 1: of that that they've created a five billion dollar franchise

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Speaker 1: based off of Michael Jordan who hasn't played basketball in

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Speaker 1: twenty years. If the NBA season was going to end today,

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Speaker 1: I mean, but they look like geniuses because about Carol's

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Speaker 1: line last night against Orlando. Are you ready for this?

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Speaker 1: Guy's the first player to get twenty five points, five rebounds,

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Speaker 1: five assists since since Lebron James in two thousand three,

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Speaker 1: So you know, after one game, but Kara does look

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Speaker 1: like the real deal. It's only one game, but at

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Speaker 1: least that's like a proof of concept. Well, I mean, look,

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Speaker 1: let's be clear, Nike, He's also send people like O. B. J. Kaepernick,

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Speaker 1: And by the way, they also have Nadal and Serena

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Speaker 1: from retiring athletes, so you know they're gonna be looking

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Speaker 1: for your new faces for sure. Speaking of new faces

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Speaker 1: in new levels, of investment, NBA star Kevin Durant, he

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Speaker 1: is going he is now joining. Uh, he's gonna buy

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Speaker 1: another pro pickle ball team, just like everybody else where.

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Speaker 1: The heck was I thought this was like some old

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Speaker 1: first time I heard the pickle ball, I thought it

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Speaker 1: was like, Oh, this is like good Nip cannot Yeah.

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Speaker 1: By the way, y'all, if you don't know who I'm

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Speaker 1: talking about, what I'm talking about, look up Nip kennop

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Speaker 1: and it was an old is g n I p

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Speaker 1: g n o p okay. Now, when I was a kid,

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Speaker 1: I thought, nap, it must be Swedish. No, it's ping

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Speaker 1: pong spilled backwards. And then I realized what the heck

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Speaker 1: it was. It's My point is pickle ball has taken off.

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Speaker 1: Kevin Durant, Lebron James, Kevin Love, Draymond Green, Kim, Everybody's

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Speaker 1: in here with these guys, all buying teams, but they're

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Speaker 1: not actually going to be playing. I'd rather see them

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Speaker 1: play pickleball than Can you imagine Kevin Durant playing pickleball?

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Speaker 1: You're not getting anything past that. That would be fun

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Speaker 1: to watch, yeah, but you know the pickleball would be smashed. Man,

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Speaker 1: you're here. That's so hard man, It's that would be

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Speaker 1: fun to watch. Who's going to play all these play

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Speaker 1: for all these pro pickleball teams? Did you say to

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Speaker 1: ask that question? We asked that question, asked me. Look,

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Speaker 1: I mean, it depends on where you want to recruit.

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Speaker 1: It's a star athletes. It's not a college sport. It's

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Speaker 1: a club sport. So where would you go first? There's

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Speaker 1: a youth league for it. I'd be looking at golf books,

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Speaker 1: tennis clubs. I'd be looking at in Westchester, Fairfield County.

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Speaker 1: And I mean it's gonna be the first scout. I'm

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Speaker 1: telling you, I could be a pickuball scout. I got

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Speaker 1: some ideas. Uh, Kim, this this is huge, and I

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Speaker 1: guess I better get on the pick a ball train myself,

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Speaker 1: because I thought this was a passing fad, and no

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Speaker 1: it's not. I guess. So yeah, I mean, pick a

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Speaker 1: ball really gain traction. A couple of years ago, and

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Speaker 1: with all these people starting to play this game, they

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Speaker 1: started a professional pick a ball league, Major League pick

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Speaker 1: a Ball. And now that's what we're seeing here that

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Speaker 1: these are these are expansion teams being added for I

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Speaker 1: believe the three season of Major League pick a Ball

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Speaker 1: and it looks like, I mean, these can't be that

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Speaker 1: expensive team, so like you might as well get involved.

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Speaker 1: And if you're if you have money and you want

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Speaker 1: to and you want to own a team, they're gonna

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Speaker 1: run it. Like Kevin Durant's thirty five Ventures is a

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Speaker 1: venture fund. They're they're going to operate the team. They're

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Speaker 1: not just buying and letting someone else do it. They're

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Speaker 1: going to do this themselves. Okay, so right now you

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Speaker 1: can watch pick a Ball on ESPN, the Tennis Channel,

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Speaker 1: and the Golf Network. To Damien's point, um, they've also

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Speaker 1: the Professional Pickaball Association has signed a deal with Fox

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Speaker 1: Sports as well, So I guess we could watch this.

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Speaker 1: But you know, I'm still bewildered as so who the

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Speaker 1: rising stars are of this this made up sport. I

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Speaker 1: am as well, But if maybe maybe I just if

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Speaker 1: you're gonna become a scout like we gotta, well, I

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Speaker 1: think we need to invest in a can jam team.

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Speaker 1: I think can jam is the next real sport that

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Speaker 1: ESPN is gonna have to You can't ignore it anymore.

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Speaker 1: Do you know can jam? Do you know what can

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Speaker 1: jam is Michael. Now this sounds like something you would

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Speaker 1: can't it's it's to have to explain this to people,

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Speaker 1: and you obviously don't get to the beach very much.

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Speaker 1: It's two garbage cans with a slot in each side,

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Speaker 1: and you have a frisbee and the idea is to

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Speaker 1: kind of, you know, hit the can with the frisbee.

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Speaker 1: It's a great sport. It's unbelievable. It's great. Uh, what

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Speaker 1: the hell would I want to play this? Guy? I

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Speaker 1: played it. It's an unbelievable You take a frisbee to

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Speaker 1: hit the garbage game. It's not that simple. There are

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Speaker 1: other rules. You have a partner on the other side

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Speaker 1: of us to knock get into the can. You get

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Speaker 1: it in. It's a slot. It's three points. Have you

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Speaker 1: played this before? Yeah, I know, I'm very good at it. Actually, yeah,

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Speaker 1: me too. Let's do it two on two. It's two.

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Speaker 1: Yeah you play this? Oh yeah, you play can jam.

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Speaker 1: You've never take a classic park or beach game exactly?

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Speaker 1: How you see? This is what we're talking about. His

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Speaker 1: mouth is a game. Keep the scene, Bloomberg z own,

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Speaker 1: thank you man for shooting us. Got rising can jump Star.

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Speaker 1: Business is sports? I really thought you were talking about

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Speaker 1: Canning Man. Can't you see we're talking about nothing anyway.

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Speaker 1: I'm not even going to explain what my thought. Uh.

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Speaker 1: This has been in the Bloomberg Business of Sports podcast.

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Speaker 1: You can join us here every Monday, Wednesday and Thursday.

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Speaker 1: We're talking about can jam. I don't know why, but

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Speaker 1: you can join us here every day of that I

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Speaker 1: just mentioned. By the way, you can follow me on

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Speaker 1: Twitter at Big Bar Sports and you can send us

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Speaker 1: your videos or pictures of you can jamming to me

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Speaker 1: at Scarlett Foo and you don't have to send me

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Speaker 1: your pictures. Don't want to see it unless you have

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Speaker 1: a shirt on. Uh. And that's at the sas hour

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Speaker 1: on Twitter. Can what's your Twitter handles? That's at Kim Snea.

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Speaker 1: Send all those can jam Twitter's man to Kim Man.

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Speaker 1: This has been the Bloomberg Business Sports. By the way,

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Speaker 1: you can download the podcast wherever you can get it.