1 00:00:00,720 --> 00:00:04,600 Speaker 1: This is Bloomberg Business of Sports. The world changing and 2 00:00:04,640 --> 00:00:06,440 Speaker 1: what are the things we can do to transform our 3 00:00:06,480 --> 00:00:09,600 Speaker 1: business and engage our fans Globally in different ways, people 4 00:00:09,600 --> 00:00:12,400 Speaker 1: are using their name and likeness to create more opportunities, 5 00:00:12,480 --> 00:00:15,520 Speaker 1: more stakes and companies in order to turn the organization around. 6 00:00:15,560 --> 00:00:17,279 Speaker 1: We had to turn it around not only just on 7 00:00:17,440 --> 00:00:20,959 Speaker 1: baseball operations side, but other business operations side well, and 8 00:00:21,079 --> 00:00:23,079 Speaker 1: any other sport is very difficult, but I like to 9 00:00:23,079 --> 00:00:26,560 Speaker 1: blog my horizons and be able to expand. Sports need 10 00:00:26,640 --> 00:00:29,040 Speaker 1: to be consumed a lot and not to the big 11 00:00:29,160 --> 00:00:33,640 Speaker 1: competitive advantage for intual property holders of sports content in 12 00:00:33,720 --> 00:00:37,920 Speaker 1: the media landscape. Bloomberg Business of Sports from Bloomberg Radio. 13 00:00:39,720 --> 00:00:42,360 Speaker 1: Hi everyone, I'm Jason Kelly, and I'm Mike Lynch and 14 00:00:42,440 --> 00:00:45,080 Speaker 1: I'm Michael bar Over the next hour, we will explore 15 00:00:45,120 --> 00:00:47,279 Speaker 1: the big money issues in the world of sports and 16 00:00:47,560 --> 00:00:49,760 Speaker 1: talk to some of the biggest players in the industry. 17 00:00:49,840 --> 00:00:51,800 Speaker 1: It is a time of great change in the world 18 00:00:51,800 --> 00:00:53,640 Speaker 1: of sports. We're going to talk a lot about that. 19 00:00:53,680 --> 00:00:56,120 Speaker 1: When it comes to college sports coming up later in 20 00:00:56,120 --> 00:00:58,840 Speaker 1: the show, dive deep into the world of name, image 21 00:00:58,840 --> 00:01:01,360 Speaker 1: and likeness. We're only a few weeks in and already 22 00:01:01,800 --> 00:01:05,160 Speaker 1: the landscape is dramatically changing. But before we get to that, 23 00:01:05,440 --> 00:01:09,640 Speaker 1: tell you where the landscape is changing. Cleveland. You know 24 00:01:09,720 --> 00:01:12,200 Speaker 1: it's funny, guys. We had this great conversation in the 25 00:01:12,240 --> 00:01:14,679 Speaker 1: last couple of weeks with Luke Epplin. He wrote a 26 00:01:14,720 --> 00:01:18,840 Speaker 1: fantastic book about the Cleveland baseball team. They were known 27 00:01:18,880 --> 00:01:23,120 Speaker 1: as the Indians, and now here's what they're called. You see, 28 00:01:23,160 --> 00:01:26,720 Speaker 1: there's always been Cleveland. That's the best part of our name. 29 00:01:28,640 --> 00:01:32,839 Speaker 1: And now it's time to unite as one family, one community, 30 00:01:33,240 --> 00:01:36,800 Speaker 1: to build the next era for this team in this city, 31 00:01:37,319 --> 00:01:40,640 Speaker 1: to keep watch and guard what makes this game the greatest. 32 00:01:41,400 --> 00:01:43,880 Speaker 1: To come together and welcome all who wanted to join us. 33 00:01:44,600 --> 00:01:48,680 Speaker 1: We are loyal and proud and resilient. We protect what 34 00:01:48,800 --> 00:01:53,360 Speaker 1: we've earned and always defended. Together. We stand with all 35 00:01:53,440 --> 00:01:56,400 Speaker 1: who understand what it means to be born and built 36 00:01:56,440 --> 00:01:59,520 Speaker 1: from the land. Because this is a city we look 37 00:02:00,440 --> 00:02:06,200 Speaker 1: in the game. We believe together we are all Cleveland Guardians. 38 00:02:07,720 --> 00:02:10,360 Speaker 1: So those, of course, guys, are the dulcet tones of 39 00:02:10,400 --> 00:02:15,200 Speaker 1: none other than Tom Hanks announcing the new name, the Guardians. 40 00:02:15,240 --> 00:02:18,840 Speaker 1: Your take, Mike Lynch, I like it um anybody's ever 41 00:02:18,840 --> 00:02:21,560 Speaker 1: been to Cleveland and gone over the Lorraine Carnegie Bridge. 42 00:02:21,600 --> 00:02:23,680 Speaker 1: You see the statues. They're sort of the guardians of 43 00:02:23,680 --> 00:02:26,720 Speaker 1: the city. The video is two minutes and eleven seconds 44 00:02:26,720 --> 00:02:29,480 Speaker 1: and it really is a condensed version of of what 45 00:02:29,560 --> 00:02:33,760 Speaker 1: Cleveland's all about. And it's about blue collar people. And 46 00:02:33,800 --> 00:02:36,519 Speaker 1: I think that the name isn't as homage to all 47 00:02:36,520 --> 00:02:38,600 Speaker 1: the people that have worked to make Cleveland the city 48 00:02:38,639 --> 00:02:40,920 Speaker 1: it is. In the city it will be. And I 49 00:02:41,040 --> 00:02:44,840 Speaker 1: like it. I like it. Yeah, it's Uh, it's interesting. 50 00:02:44,840 --> 00:02:49,680 Speaker 1: Michael Barr, You're you're you're warming to it. I'm trying 51 00:02:49,680 --> 00:02:53,000 Speaker 1: to think of how it's going to sound. And in 52 00:02:53,120 --> 00:02:56,000 Speaker 1: the bottom of the five we have the Guardians five, 53 00:02:56,120 --> 00:02:59,400 Speaker 1: the Tigers four. I gotta I gotta hear that over 54 00:02:59,480 --> 00:03:02,080 Speaker 1: and over again. It's going to grow on me and 55 00:03:02,080 --> 00:03:06,000 Speaker 1: and and I agree with Lynchi it is a cool name. 56 00:03:06,280 --> 00:03:09,920 Speaker 1: It's just change in this way is a little different. 57 00:03:10,000 --> 00:03:13,680 Speaker 1: But everybody will looks upt it. It's an important change. 58 00:03:13,720 --> 00:03:17,040 Speaker 1: I think it's fair to say here in I think 59 00:03:17,440 --> 00:03:21,079 Speaker 1: keeping the name the Indians was a non starter. Uh, 60 00:03:21,120 --> 00:03:24,600 Speaker 1: And I really do recommend the conversation we had with 61 00:03:24,600 --> 00:03:31,000 Speaker 1: with Luke Eplin his book about the now Guardians back 62 00:03:31,080 --> 00:03:33,800 Speaker 1: fifty years ago and what was going on there, the 63 00:03:33,840 --> 00:03:39,160 Speaker 1: integration of that team. You really see an ownership even 64 00:03:39,240 --> 00:03:42,440 Speaker 1: back then that was ahead of its time. And uh 65 00:03:42,520 --> 00:03:45,440 Speaker 1: with Bill Veck, it's it's a fascinating history and it's 66 00:03:45,440 --> 00:03:48,520 Speaker 1: an important one. And I do hope, um for Luke's sake, 67 00:03:48,520 --> 00:03:50,720 Speaker 1: because it's a great book, but also UM for the 68 00:03:50,720 --> 00:03:52,280 Speaker 1: sake of folks who care about the game and care 69 00:03:52,320 --> 00:03:56,120 Speaker 1: about baseball, Uh, that people dig in a little bit 70 00:03:56,120 --> 00:03:58,920 Speaker 1: to the history of this franchise because it's an important 71 00:03:58,960 --> 00:04:02,240 Speaker 1: one from a business respective. Look, guys, Uh, they're gonna 72 00:04:02,240 --> 00:04:05,800 Speaker 1: sell a lot of merch, Mike Lynch, you know, everybody's 73 00:04:05,840 --> 00:04:08,920 Speaker 1: gonna go out. These are die hard fans in Cleveland. 74 00:04:08,960 --> 00:04:11,440 Speaker 1: They love this team. They love their sports teams there 75 00:04:11,880 --> 00:04:14,880 Speaker 1: and uh, some of it's reflected even in that video 76 00:04:15,280 --> 00:04:18,080 Speaker 1: that you described that that Tom Hanks was a part of. 77 00:04:19,040 --> 00:04:21,719 Speaker 1: But they love this team and I think I hope 78 00:04:21,760 --> 00:04:24,760 Speaker 1: that that they will embrace this new name. And of course, 79 00:04:25,120 --> 00:04:29,320 Speaker 1: this is only one of the name changes that we're 80 00:04:29,320 --> 00:04:31,719 Speaker 1: going to see across professional sports. Still waiting to see 81 00:04:31,760 --> 00:04:33,720 Speaker 1: what the Washington football team is going to have, but 82 00:04:33,800 --> 00:04:37,240 Speaker 1: I believe we're not going to see that until next season. Um, 83 00:04:37,320 --> 00:04:39,120 Speaker 1: so we got some time to wait, so we'll we'll, 84 00:04:39,440 --> 00:04:43,560 Speaker 1: we'll have time to digest the guardians in the meantime. Well, 85 00:04:43,560 --> 00:04:47,440 Speaker 1: Cleveland in other places, also have professional football teams in 86 00:04:47,480 --> 00:04:50,799 Speaker 1: the NFL. A little bit of a a different look 87 00:04:50,920 --> 00:04:56,120 Speaker 1: this season in many ways, Lynchy, given that, uh, we 88 00:04:56,160 --> 00:04:58,719 Speaker 1: are going to have fans in the stands, but they're 89 00:04:58,760 --> 00:05:02,120 Speaker 1: going to take a pretty pretty hard line when it 90 00:05:02,160 --> 00:05:05,320 Speaker 1: comes to COVID. Tell me about this. Well, the Commissioner, 91 00:05:05,400 --> 00:05:07,640 Speaker 1: Roger Goodell sent a memo to all the National Football 92 00:05:07,720 --> 00:05:11,239 Speaker 1: League teams yesterday outlining their new plans this year for 93 00:05:11,839 --> 00:05:16,160 Speaker 1: any games that might be interrupted because of non vaccinated 94 00:05:16,200 --> 00:05:19,880 Speaker 1: players or players that violate team protocol. Now, recall last 95 00:05:19,920 --> 00:05:22,480 Speaker 1: year there were a number of times that games were 96 00:05:22,520 --> 00:05:26,840 Speaker 1: postponed and they reshuffled teams play on Tuesdays and Wednesdays. 97 00:05:26,920 --> 00:05:29,560 Speaker 1: That's not going to happen this year. If you have 98 00:05:30,160 --> 00:05:34,479 Speaker 1: a problem because people violated protocol or we're not vaccinated, 99 00:05:34,800 --> 00:05:39,040 Speaker 1: you risk the threat of a forfeiture. No more postponements, 100 00:05:39,640 --> 00:05:43,000 Speaker 1: no more delays. And this is a huge, huge hit 101 00:05:43,480 --> 00:05:46,919 Speaker 1: to the home team. Now, the average National Football League 102 00:05:47,040 --> 00:05:50,919 Speaker 1: take for a home football game is roughly eleven point 103 00:05:51,000 --> 00:05:55,360 Speaker 1: six million dollars when you take in parking and concessions. 104 00:05:55,400 --> 00:05:58,640 Speaker 1: So the pressure has come from above with Roger Goodell. 105 00:05:59,000 --> 00:06:02,240 Speaker 1: Now the pressure is gonna from ownership on the players. 106 00:06:02,600 --> 00:06:04,880 Speaker 1: You better not be the one that costs us to 107 00:06:04,920 --> 00:06:07,600 Speaker 1: forfeit the game. And not to mention, it's only six 108 00:06:07,960 --> 00:06:10,960 Speaker 1: seventeen game regular season. One game makes a difference between 109 00:06:11,000 --> 00:06:13,240 Speaker 1: whether you make the playoffs or not, and that eleven 110 00:06:13,279 --> 00:06:15,480 Speaker 1: point six million dollar price tag I would use as 111 00:06:15,480 --> 00:06:18,000 Speaker 1: a hammer if I was an owner of an NFL team. 112 00:06:18,120 --> 00:06:23,120 Speaker 1: So bar is this essentially a get your stuff together 113 00:06:23,800 --> 00:06:27,240 Speaker 1: kind of moment and get your jobs like, what how 114 00:06:27,240 --> 00:06:28,480 Speaker 1: did you how did you read this when it came 115 00:06:28,480 --> 00:06:30,440 Speaker 1: across the table. I think this is going to head 116 00:06:30,520 --> 00:06:33,799 Speaker 1: right to the bargaining table when it's time to start talking, 117 00:06:33,880 --> 00:06:38,599 Speaker 1: because here's look, here's the problem I've got with it. Obviously, 118 00:06:39,360 --> 00:06:42,400 Speaker 1: you know it's I get what the drive is to 119 00:06:42,440 --> 00:06:47,800 Speaker 1: get people vaccinated and try to eradicate this this virus. 120 00:06:47,839 --> 00:06:52,320 Speaker 1: The problem I have is if you are the opposing team, 121 00:06:52,480 --> 00:06:56,839 Speaker 1: the team that is not going to forfeit the game, 122 00:06:57,279 --> 00:07:00,000 Speaker 1: and I'm all set ready to play, and I've taken 123 00:07:00,080 --> 00:07:04,159 Speaker 1: my vaccination and I've been training all week and all 124 00:07:04,240 --> 00:07:07,600 Speaker 1: this training, and then the game is canceled and now 125 00:07:07,640 --> 00:07:10,200 Speaker 1: I'm not going to get a paycheck. Wait a minute, 126 00:07:10,400 --> 00:07:15,400 Speaker 1: it's that I have a problem with penalizing that team 127 00:07:15,760 --> 00:07:20,200 Speaker 1: for this, and I don't know, uh, what's going to happen. 128 00:07:20,280 --> 00:07:22,000 Speaker 1: I know a lot of the players are not happy 129 00:07:22,000 --> 00:07:25,120 Speaker 1: about it. Yeah, I mean, listen, the players don't necessarily 130 00:07:25,440 --> 00:07:27,400 Speaker 1: want to be told what to do. This is an 131 00:07:27,400 --> 00:07:32,400 Speaker 1: economic uh incentive in many ways. It's certainly the way 132 00:07:32,400 --> 00:07:35,120 Speaker 1: I look at it. The science is clear here, like 133 00:07:35,280 --> 00:07:37,480 Speaker 1: go get vaccinated, Like just go do it, Go get 134 00:07:37,480 --> 00:07:41,680 Speaker 1: your shot. Um, you have to find it. And all 135 00:07:41,680 --> 00:07:45,360 Speaker 1: of us our parents, and we know when you're disciplining 136 00:07:45,360 --> 00:07:47,720 Speaker 1: your kids, you gotta find their currency. Right. Sometimes it's 137 00:07:47,760 --> 00:07:52,040 Speaker 1: literal in this case, um, which is you've got to 138 00:07:52,080 --> 00:07:54,440 Speaker 1: figure out what is going to motivate people to do 139 00:07:54,600 --> 00:07:58,559 Speaker 1: what we collectively have decided is the right thing. And 140 00:07:58,720 --> 00:08:01,880 Speaker 1: if you start talking about somebody's livelihood, I think you're right, 141 00:08:02,120 --> 00:08:05,200 Speaker 1: Michael Barr, that there are some things that probably have 142 00:08:05,280 --> 00:08:08,480 Speaker 1: to be negotiated through. And I'm guessing what you're going 143 00:08:08,520 --> 00:08:12,000 Speaker 1: to have is teams absorb. I think we've already seen 144 00:08:12,040 --> 00:08:14,800 Speaker 1: some reports of that that the teams will absorb you know, 145 00:08:15,040 --> 00:08:18,760 Speaker 1: the penalties essentially, and maybe it won't be levied directly 146 00:08:19,280 --> 00:08:22,000 Speaker 1: on a game by game basis on the players. Will 147 00:08:22,040 --> 00:08:25,040 Speaker 1: see how all that plays out. But ultimately this is 148 00:08:25,120 --> 00:08:31,320 Speaker 1: a pretty powerful tool for teams and coaches and gms 149 00:08:31,320 --> 00:08:35,520 Speaker 1: and everybody else to motivate their players and staff and 150 00:08:35,559 --> 00:08:38,559 Speaker 1: whoever else to to do the right thing and get vaccinated. 151 00:08:38,600 --> 00:08:42,000 Speaker 1: So we'll see. Um, it may be a non issue. 152 00:08:42,080 --> 00:08:44,360 Speaker 1: We may not have any games, but Lynch, as you 153 00:08:44,400 --> 00:08:48,760 Speaker 1: said last year, we certainly had a lot of disruption. 154 00:08:49,000 --> 00:08:51,079 Speaker 1: And where we are at a time right now where 155 00:08:51,440 --> 00:08:56,880 Speaker 1: medically delta variant is surging uh, and there is I believe, 156 00:08:56,880 --> 00:09:00,080 Speaker 1: as President Biden has said, there is a pandemic of 157 00:09:00,120 --> 00:09:02,880 Speaker 1: the unvaccinated and that's really where this is hitting. So 158 00:09:03,120 --> 00:09:07,319 Speaker 1: we'll see money talks. That's all I'm gonna say. By 159 00:09:07,360 --> 00:09:09,080 Speaker 1: the way, if you get a chance to see the 160 00:09:09,160 --> 00:09:12,000 Speaker 1: video with Tom Hanks about the Guardians, there's a clip 161 00:09:12,000 --> 00:09:14,280 Speaker 1: and you gotta look close, but there's a clip of 162 00:09:14,320 --> 00:09:17,360 Speaker 1: Bob Feller and Larry Dobe and they're on the bench 163 00:09:17,400 --> 00:09:19,920 Speaker 1: and and it's only like for a few seconds. But 164 00:09:20,000 --> 00:09:22,199 Speaker 1: I thought that was really cool. I like that. Yeah. 165 00:09:22,360 --> 00:09:24,880 Speaker 1: Now it's it's an important moment in history and one 166 00:09:24,960 --> 00:09:27,800 Speaker 1: that has not been told enough. Speaking of history, just 167 00:09:27,880 --> 00:09:33,400 Speaker 1: while we're congratulating people, uh, we should also mention briefly, Uh, 168 00:09:33,440 --> 00:09:37,280 Speaker 1: the Milwaukee Bucks fifty years in the making, fifty points 169 00:09:37,559 --> 00:09:41,360 Speaker 1: from Janice. It was a fantastic end. I think unless 170 00:09:41,360 --> 00:09:45,000 Speaker 1: you're a Son's fan to the NBA Finals, you really 171 00:09:45,080 --> 00:09:50,920 Speaker 1: did have so many people I think, especially after the fact, rooting, uh, 172 00:09:51,000 --> 00:09:54,400 Speaker 1: rooting for and really embracing Janice. His personal story is incredible. 173 00:09:54,480 --> 00:09:58,240 Speaker 1: The business of Janice is amazing and candidly the business 174 00:09:58,240 --> 00:10:01,760 Speaker 1: of the Bucks is fascinating. Highly recommend going back into 175 00:10:02,000 --> 00:10:04,440 Speaker 1: the archives, the recent archives as well, and listening to 176 00:10:04,840 --> 00:10:09,040 Speaker 1: our conversation with Peter Fagan. Um, you guys saw I 177 00:10:09,080 --> 00:10:12,400 Speaker 1: mean the Deer district. I think it went from twenty 178 00:10:12,480 --> 00:10:18,680 Speaker 1: thousand uh to sixty five thousand minimum for Game six. 179 00:10:18,800 --> 00:10:21,520 Speaker 1: Lynch as a lot of celebration and rightly so. They're 180 00:10:21,679 --> 00:10:24,640 Speaker 1: in in Milwaukee and good for them. Congratulations to them, 181 00:10:24,679 --> 00:10:27,960 Speaker 1: to Mark Lazari, the whole ownership group. Uh, this was 182 00:10:28,000 --> 00:10:32,079 Speaker 1: an investment for real that that seems to be paying off. Well, 183 00:10:32,120 --> 00:10:34,280 Speaker 1: you think about there. I think the population of downtown 184 00:10:34,360 --> 00:10:37,480 Speaker 1: Milwaukee is just a shade over six hundred and fifty thousand, 185 00:10:37,480 --> 00:10:40,040 Speaker 1: so roughly ten percent of the people that lived there 186 00:10:40,280 --> 00:10:43,560 Speaker 1: we're congregating in the Dead District. It's a love affair. Uh. 187 00:10:43,559 --> 00:10:47,720 Speaker 1: It's it's so Midwest and so Americana. And if Fagan 188 00:10:47,840 --> 00:10:49,720 Speaker 1: and his group did a great job when they built 189 00:10:49,720 --> 00:10:52,000 Speaker 1: that Deer District, and now it's become a destination. I 190 00:10:52,000 --> 00:10:54,679 Speaker 1: mean every game next year in the regular season, people 191 00:10:54,679 --> 00:10:56,360 Speaker 1: are just gonna be in with if they're playing at 192 00:10:56,360 --> 00:10:58,640 Speaker 1: Boston or playing in New York or San Antonio, Hey, 193 00:10:58,720 --> 00:11:00,319 Speaker 1: let's get out of the Dead District. It's like a 194 00:11:00,360 --> 00:11:03,200 Speaker 1: hot place to be. And I think that, you know, economically, 195 00:11:03,280 --> 00:11:06,520 Speaker 1: for all those businesses down there, they are on a 196 00:11:06,520 --> 00:11:09,640 Speaker 1: fast ride to profits. Well. The one other thing that 197 00:11:09,679 --> 00:11:12,040 Speaker 1: I will say about this team from a business perspective 198 00:11:12,040 --> 00:11:16,600 Speaker 1: that I think is fascinating is the fact that Lazarian 199 00:11:16,679 --> 00:11:19,840 Speaker 1: Company and and the GM and the coach you know, 200 00:11:19,920 --> 00:11:22,800 Speaker 1: obviously coach bud Um gets a lot of credit for 201 00:11:22,840 --> 00:11:26,240 Speaker 1: this for you know, really building a team. This is 202 00:11:26,280 --> 00:11:30,120 Speaker 1: not an assembled super team by any stretch, and I 203 00:11:30,160 --> 00:11:35,199 Speaker 1: think that has been noted widely. Uh, in the kind 204 00:11:35,200 --> 00:11:38,320 Speaker 1: of postmortems of this. This is a team that you 205 00:11:38,360 --> 00:11:41,440 Speaker 1: know has the potential to be a dynasty. You saw 206 00:11:42,240 --> 00:11:46,120 Speaker 1: Janice really come into his own in a way and 207 00:11:46,120 --> 00:11:48,720 Speaker 1: and play at a different level, and and so really 208 00:11:48,720 --> 00:11:51,520 Speaker 1: building around a superstar. I don't know if we've seen 209 00:11:51,559 --> 00:11:54,600 Speaker 1: that in quite this way in some time in this 210 00:11:54,679 --> 00:11:57,640 Speaker 1: era of of Super Team's Michael bar So certainly something 211 00:11:58,280 --> 00:12:00,400 Speaker 1: to keep an eye on. And you want er if 212 00:12:00,440 --> 00:12:03,160 Speaker 1: other owners are going to take note of that and say, oh, well, 213 00:12:03,200 --> 00:12:05,640 Speaker 1: that's kind of a championship the old fashioned way. I'm 214 00:12:05,679 --> 00:12:07,960 Speaker 1: amazed the Dear District didn't come up with his slogan, 215 00:12:08,120 --> 00:12:17,800 Speaker 1: the Dear District, Come spend your dough the trademark anyway, 216 00:12:17,960 --> 00:12:20,800 Speaker 1: And for a moment here we're in the cat Skills 217 00:12:23,240 --> 00:12:26,839 Speaker 1: today we're talking about something about which there are headlines 218 00:12:27,040 --> 00:12:30,480 Speaker 1: literally every day right now. We're talking about name, image 219 00:12:30,480 --> 00:12:34,200 Speaker 1: and likeness. We've talked about it on this show a lot. 220 00:12:34,520 --> 00:12:37,160 Speaker 1: We're going to do a deep dive today with one 221 00:12:37,200 --> 00:12:40,440 Speaker 1: of the unquestionable experts on all of this, talking about 222 00:12:40,480 --> 00:12:43,160 Speaker 1: Darren Heightner. He is the founder of Heightner Legal. He's 223 00:12:43,160 --> 00:12:46,760 Speaker 1: a sports lawyer. He's an adjunct professor of law at 224 00:12:46,800 --> 00:12:49,920 Speaker 1: the University of Florida, and he is all over this. 225 00:12:50,120 --> 00:12:53,280 Speaker 1: If you go on Twitter and you do any sort 226 00:12:53,320 --> 00:12:56,280 Speaker 1: of search, if you google it, his name inevitably pops up. 227 00:12:56,320 --> 00:12:59,640 Speaker 1: He's been the architect of some of the laws here. Darren, 228 00:12:59,679 --> 00:13:02,920 Speaker 1: really really great to have you with us. I mean, 229 00:13:03,400 --> 00:13:07,760 Speaker 1: what a moment. We knew this was coming, obviously, but 230 00:13:08,120 --> 00:13:10,480 Speaker 1: is it what you thought it would be in terms 231 00:13:10,480 --> 00:13:13,840 Speaker 1: of how it is rolling out three weeks in? This 232 00:13:13,960 --> 00:13:18,160 Speaker 1: is what I expected, which is Number one, that we 233 00:13:18,160 --> 00:13:23,640 Speaker 1: would see an influx um individualized deals literally at midnight 234 00:13:23,840 --> 00:13:27,239 Speaker 1: as a cock turn from June thirty to July one, 235 00:13:27,640 --> 00:13:30,600 Speaker 1: That it would take some time for the big brand 236 00:13:30,679 --> 00:13:33,840 Speaker 1: to get involved. While I was fortunate to get involved 237 00:13:33,920 --> 00:13:36,839 Speaker 1: on day one on a deal between the kabin Or 238 00:13:36,880 --> 00:13:40,200 Speaker 1: Twins and doust Mobile, we haven't seen all that many 239 00:13:40,280 --> 00:13:42,120 Speaker 1: big brands, and I knew that it was going to 240 00:13:42,200 --> 00:13:46,440 Speaker 1: take some time. And I'd say number three that too 241 00:13:46,440 --> 00:13:50,240 Speaker 1: many athletes are accepting far too many opportunities that are 242 00:13:50,280 --> 00:13:55,360 Speaker 1: coming their way without necessarily negotiating the deals, understanding the terms, 243 00:13:56,080 --> 00:13:59,760 Speaker 1: and perhaps making sure that all the intellectual property rights 244 00:13:59,800 --> 00:14:04,719 Speaker 1: are properly cleared. But overall, there was a lot of 245 00:14:04,760 --> 00:14:09,120 Speaker 1: worry leading up to July one that this change would 246 00:14:09,200 --> 00:14:13,400 Speaker 1: lead to anarchy or chaos for quote unquote the end 247 00:14:13,440 --> 00:14:18,680 Speaker 1: of college sports, and that was obviously hyperbole. Uh, it's 248 00:14:18,720 --> 00:14:21,800 Speaker 1: not going to lead to any of those things, and 249 00:14:21,880 --> 00:14:25,160 Speaker 1: it hasn't thus far. And so this yes, thus far 250 00:14:25,320 --> 00:14:28,640 Speaker 1: three weeks, it's exactly how I thought this would play out. 251 00:14:29,640 --> 00:14:33,920 Speaker 1: This is interesting because one, first of all, obviously stating 252 00:14:34,000 --> 00:14:37,720 Speaker 1: the flat out obvious, this has changed a lot in 253 00:14:37,920 --> 00:14:42,280 Speaker 1: college sports for athletes to make money, but more importantly, 254 00:14:43,040 --> 00:14:46,880 Speaker 1: it's how they do it now. Now some athletes may 255 00:14:46,920 --> 00:14:49,960 Speaker 1: get like a couple of hundred dollars, but that really 256 00:14:50,000 --> 00:14:53,840 Speaker 1: doesn't help them for the people really trying to get 257 00:14:53,880 --> 00:14:57,360 Speaker 1: into the NFL Or am I wrong? The best players 258 00:14:57,440 --> 00:15:00,840 Speaker 1: are still going to be leaving school early. I've had 259 00:15:00,840 --> 00:15:03,680 Speaker 1: a lot of questions as to whether or not n 260 00:15:03,720 --> 00:15:06,640 Speaker 1: i L will cause athletes to stay in school for 261 00:15:06,720 --> 00:15:09,560 Speaker 1: a longer period of time, and I do think that 262 00:15:09,760 --> 00:15:12,840 Speaker 1: to a certain extent. Yes, if we're talking about the 263 00:15:12,880 --> 00:15:17,720 Speaker 1: basketball player who has a second round projection or going undrafted, 264 00:15:18,360 --> 00:15:21,960 Speaker 1: or a football player who may be pegged for the 265 00:15:22,080 --> 00:15:26,680 Speaker 1: fourth to sixth round of the NFL draft, those individuals 266 00:15:26,920 --> 00:15:30,840 Speaker 1: may be influenced by n i L and these new rights, 267 00:15:30,880 --> 00:15:35,280 Speaker 1: but the very best players, Trevor Lawrence's Desion Williamson's of 268 00:15:35,320 --> 00:15:38,000 Speaker 1: the world, they would not have stayed in school for 269 00:15:38,080 --> 00:15:40,600 Speaker 1: a longer period of time, and I L would not 270 00:15:40,720 --> 00:15:43,800 Speaker 1: have affected them from their professional endeavors, and they would 271 00:15:43,800 --> 00:15:46,560 Speaker 1: have tried to get there as soon as possible, because 272 00:15:46,600 --> 00:15:50,240 Speaker 1: at the professional level they'd still have those denial rights, 273 00:15:50,240 --> 00:15:53,080 Speaker 1: which professional athletes have always had. By the way, the 274 00:15:53,120 --> 00:15:56,880 Speaker 1: rest of society has as well, then simply carved out 275 00:15:57,480 --> 00:16:00,040 Speaker 1: college athletes and said they are the only class of 276 00:16:00,080 --> 00:16:03,680 Speaker 1: individuals in the US who cannot have these rights. But 277 00:16:04,240 --> 00:16:06,640 Speaker 1: those players who are super talented would just still go 278 00:16:06,800 --> 00:16:10,000 Speaker 1: to their professional ranks as quickly as they've done before, 279 00:16:10,560 --> 00:16:12,920 Speaker 1: benefiting from not only those n I L rights, but 280 00:16:13,000 --> 00:16:16,360 Speaker 1: also their salaries. We were all kind of startled when 281 00:16:17,160 --> 00:16:20,240 Speaker 1: Nick Saban, of all people, leaked it out that his 282 00:16:20,320 --> 00:16:22,920 Speaker 1: quarterback Bryce Young has never started a game, how already 283 00:16:22,920 --> 00:16:25,680 Speaker 1: has a name, image and likeness deal worth seven figures. 284 00:16:25,680 --> 00:16:27,800 Speaker 1: And I'm scratching my head and say, why would a 285 00:16:27,800 --> 00:16:30,320 Speaker 1: head coach say that? And then of course the cynica 286 00:16:30,440 --> 00:16:33,720 Speaker 1: me says, maybe it's a recruiting tactic. Is that a 287 00:16:33,720 --> 00:16:36,040 Speaker 1: possibility now that we may all the coaches that come 288 00:16:36,040 --> 00:16:38,320 Speaker 1: on down to Old State because we've got the best 289 00:16:38,360 --> 00:16:41,000 Speaker 1: deal in town for name, image and likeness. So that 290 00:16:41,120 --> 00:16:43,880 Speaker 1: was my interpretation of the statement as well. In fact, 291 00:16:43,960 --> 00:16:47,320 Speaker 1: I came out on Twitter and said as much, Um, 292 00:16:47,520 --> 00:16:51,400 Speaker 1: I don't have deep inside information, but I have an 293 00:16:51,440 --> 00:16:54,680 Speaker 1: idea of the types of deals or a really deal 294 00:16:54,880 --> 00:16:57,080 Speaker 1: that Bryce Young has done, and the big one is 295 00:16:57,120 --> 00:17:00,760 Speaker 1: with Tasha thus far. But you would think he's done 296 00:17:00,920 --> 00:17:04,600 Speaker 1: all these massive deals, he'd already be delivering upon them 297 00:17:04,640 --> 00:17:06,919 Speaker 1: to at least some extent, or at least announcing, or 298 00:17:06,920 --> 00:17:09,840 Speaker 1: the or the brand would be very interested in announcing, 299 00:17:09,840 --> 00:17:12,960 Speaker 1: and we've seen relative silence on that front. So while 300 00:17:13,000 --> 00:17:15,640 Speaker 1: I don't dispute the fact that I'm sure Bryce Young 301 00:17:16,359 --> 00:17:20,200 Speaker 1: has over a million dollars and offers currently and ultimately 302 00:17:20,200 --> 00:17:23,320 Speaker 1: will sign deals and access in a million dollars, it's 303 00:17:23,359 --> 00:17:25,760 Speaker 1: hard for me to believe that he's already executed upon 304 00:17:25,800 --> 00:17:28,800 Speaker 1: those types of agreements to that extent. Uh. And so 305 00:17:29,000 --> 00:17:33,119 Speaker 1: my interpretation of Nick Saban's comment was not ignorance, but 306 00:17:33,200 --> 00:17:37,720 Speaker 1: that he's absolutely using this for recruiting advantage. And as 307 00:17:37,920 --> 00:17:41,119 Speaker 1: the University of Florida grad undergrad and law school and 308 00:17:41,119 --> 00:17:44,480 Speaker 1: then MA adjunct there. Uh, and someone who's had I'll 309 00:17:44,480 --> 00:17:45,879 Speaker 1: wear it on my sleeve. I'm a fan of the 310 00:17:45,960 --> 00:17:49,280 Speaker 1: University of Florida. On the other side, a bit disappointed 311 00:17:49,320 --> 00:17:52,760 Speaker 1: because you had Dan Mollen, coach Mollen of the football 312 00:17:52,800 --> 00:17:57,119 Speaker 1: team come out and say, in response to a question 313 00:17:57,160 --> 00:17:59,560 Speaker 1: about a deal that I was involved in at the 314 00:17:59,640 --> 00:18:04,119 Speaker 1: Universe Miami for many football players is not legal. So 315 00:18:04,200 --> 00:18:07,480 Speaker 1: you have on one side Nick Saban boasting about the 316 00:18:07,520 --> 00:18:11,840 Speaker 1: exorbitant deals that his quarterback allegedly has, and on the 317 00:18:11,880 --> 00:18:14,400 Speaker 1: other end of the spectrum you have a coach who's 318 00:18:14,440 --> 00:18:17,880 Speaker 1: asking if that type of activity is even legal. Um. So, 319 00:18:18,080 --> 00:18:20,439 Speaker 1: I don't know how much that was put into that, 320 00:18:20,480 --> 00:18:23,800 Speaker 1: but I feel like one of those tactics really helps recruiting, 321 00:18:23,800 --> 00:18:27,040 Speaker 1: while the other one either is neutral or bad for recruiting. 322 00:18:27,280 --> 00:18:29,719 Speaker 1: And so, Darren, as you're looking at these deals, you're 323 00:18:29,760 --> 00:18:34,160 Speaker 1: negotiating some of them. Obviously you understand both the letter 324 00:18:34,200 --> 00:18:37,640 Speaker 1: and the spirit of the law here. They're always unintended 325 00:18:37,640 --> 00:18:40,840 Speaker 1: consequences for better or worse that that come out of 326 00:18:40,920 --> 00:18:44,320 Speaker 1: anything new and different. What have you seen that has 327 00:18:44,400 --> 00:18:49,160 Speaker 1: surprised you or or if anything. I think what's somewhat 328 00:18:49,200 --> 00:18:53,040 Speaker 1: surprised me. I did not expect a company like bar 329 00:18:53,200 --> 00:18:56,080 Speaker 1: stool to have such an influence early on, and and 330 00:18:56,119 --> 00:18:59,600 Speaker 1: shame on me, right, because they're always out there pushing 331 00:18:59,640 --> 00:19:03,040 Speaker 1: the end lowe when they can, and I did. I 332 00:19:03,080 --> 00:19:05,720 Speaker 1: did not expect that through two three weeks of an 333 00:19:05,720 --> 00:19:09,919 Speaker 1: i L, hundreds upon hundreds of athletes would be quote 334 00:19:09,960 --> 00:19:14,639 Speaker 1: unquote signing with this new entity, Barstool Athletics in exchange 335 00:19:14,720 --> 00:19:17,720 Speaker 1: for little to nothing. We were talking about merchandise at 336 00:19:17,760 --> 00:19:22,240 Speaker 1: best um in exchange for Barstool I suppose to be 337 00:19:22,320 --> 00:19:26,080 Speaker 1: able to boast about it um and athletes putting hashtag 338 00:19:26,160 --> 00:19:30,040 Speaker 1: I think barstool athlete on their social media profiles. And 339 00:19:30,119 --> 00:19:35,920 Speaker 1: then when I guess challenged the pivot to Barstool Athletics 340 00:19:36,000 --> 00:19:39,159 Speaker 1: not being a company interested in doing an i LL 341 00:19:39,240 --> 00:19:42,640 Speaker 1: deals but actually representing the athletes, so I'm I'm wondering 342 00:19:42,680 --> 00:19:45,560 Speaker 1: what that's going to look like, to be honest, that 343 00:19:45,680 --> 00:19:49,119 Speaker 1: was sort of the big outlier. I was also a 344 00:19:49,160 --> 00:19:52,480 Speaker 1: bit surprised to find some company called Yoke Gaming that 345 00:19:52,560 --> 00:19:55,640 Speaker 1: I had never heard of before enter into so many 346 00:19:55,720 --> 00:19:58,600 Speaker 1: deals with so many athletes, which I understood to be 347 00:19:58,720 --> 00:20:02,760 Speaker 1: at around twenty it's per athletes. Um again, I mean 348 00:20:02,800 --> 00:20:05,080 Speaker 1: athletes for the first time we're able to benefit and 349 00:20:05,560 --> 00:20:09,359 Speaker 1: earn some form of consideration. But when it's merged or 350 00:20:09,359 --> 00:20:13,600 Speaker 1: twenty dollars, it's somewhat concerning that athletes are really selling 351 00:20:13,640 --> 00:20:17,320 Speaker 1: themselves short early on and and perhaps detegrating their brands 352 00:20:17,400 --> 00:20:20,680 Speaker 1: for the long term. You mentioned earlier, and to expand 353 00:20:20,720 --> 00:20:26,080 Speaker 1: on that, if you're a Alabama or a Florida, you're saying, hey, 354 00:20:26,240 --> 00:20:29,440 Speaker 1: you know what, come on in, we got a great 355 00:20:29,560 --> 00:20:32,720 Speaker 1: recruiting tool. But if you're a smaller college, like, hey, 356 00:20:32,760 --> 00:20:35,600 Speaker 1: what's them out of you? You've got a problem because 357 00:20:35,720 --> 00:20:39,879 Speaker 1: how are you going to get people to be attracted 358 00:20:39,960 --> 00:20:45,720 Speaker 1: to come to your university and avoid in Alabama? Well, 359 00:20:46,240 --> 00:20:49,640 Speaker 1: I guess it's the age old question because that question 360 00:20:49,720 --> 00:20:52,720 Speaker 1: existed even before and I'll where there was just huge 361 00:20:52,760 --> 00:20:57,240 Speaker 1: disparity in terms of athletic department budgets and the salaries 362 00:20:57,280 --> 00:20:59,760 Speaker 1: that were paid to the coaches, and the notoriety of 363 00:20:59,800 --> 00:21:04,200 Speaker 1: the coaches, and the athletic facilities, you know, the workout 364 00:21:04,320 --> 00:21:07,880 Speaker 1: rooms and so on so forth. So it's a problem 365 00:21:07,960 --> 00:21:12,560 Speaker 1: that those schools have had in perpetuity, and that's not 366 00:21:12,720 --> 00:21:16,360 Speaker 1: changing um. And I don't know necessarily that it's enhanced 367 00:21:16,359 --> 00:21:21,040 Speaker 1: by an I LM. Anyway, the gap was already existed. Uh. 368 00:21:21,080 --> 00:21:24,520 Speaker 1: But the one caveat to that that I've thought for 369 00:21:24,600 --> 00:21:26,920 Speaker 1: some time, and that we may still see play out, 370 00:21:27,760 --> 00:21:30,640 Speaker 1: is that perhaps some of those schools that have been 371 00:21:30,720 --> 00:21:36,440 Speaker 1: disadvantaged over time as compared to the powerhouses like Alabama, 372 00:21:36,640 --> 00:21:39,560 Speaker 1: Clemson and so on and so forth, if they're in 373 00:21:39,680 --> 00:21:42,639 Speaker 1: larger markets, they may be able to benefit from that. 374 00:21:43,000 --> 00:21:47,879 Speaker 1: If they have alumni who have been very successful created 375 00:21:47,880 --> 00:21:52,120 Speaker 1: strong businesses, maybe the gap is actually shortened over time. 376 00:21:52,160 --> 00:21:54,800 Speaker 1: I mean, we're so early in all this, only three 377 00:21:54,840 --> 00:21:58,080 Speaker 1: weeks in. As I mentioned, so many brands haven't even 378 00:21:58,119 --> 00:22:02,080 Speaker 1: dipped their toes into the ANIL marketplace yet. So it 379 00:22:02,119 --> 00:22:05,760 Speaker 1: will be interesting to follow and make a determination perhaps 380 00:22:05,800 --> 00:22:07,800 Speaker 1: a year two years from now, as to whether or 381 00:22:07,840 --> 00:22:12,040 Speaker 1: not the gap was widened or shortened, because my assumption 382 00:22:12,119 --> 00:22:14,359 Speaker 1: has been that, if anything, it will be short Darren, 383 00:22:14,359 --> 00:22:17,359 Speaker 1: what are the rules for disclosure? Do they vary from 384 00:22:17,440 --> 00:22:21,119 Speaker 1: state to state or school to school? They do so. 385 00:22:21,880 --> 00:22:25,000 Speaker 1: As we sit here now, there are twenty seven states 386 00:22:25,000 --> 00:22:27,800 Speaker 1: that have signed a law and n I l law 387 00:22:28,000 --> 00:22:30,399 Speaker 1: by their respective governors, but not all of them are 388 00:22:30,440 --> 00:22:33,760 Speaker 1: actually effective as of the state, and those states that 389 00:22:33,920 --> 00:22:37,520 Speaker 1: have laws that are effect is there is by and 390 00:22:37,640 --> 00:22:41,399 Speaker 1: large disclosure requirements, but the states leave up leave it 391 00:22:41,480 --> 00:22:45,480 Speaker 1: up to these schools as to what those disclosure requirements are. 392 00:22:46,040 --> 00:22:48,280 Speaker 1: And certainly in the states where there is not an 393 00:22:48,280 --> 00:22:51,480 Speaker 1: ANNIL law, it's up to those schools to determine through 394 00:22:51,480 --> 00:22:54,560 Speaker 1: their an ILL policies which they've been publishing and for 395 00:22:54,640 --> 00:22:56,680 Speaker 1: those that haven't published yet, I don't know what you're 396 00:22:56,720 --> 00:23:00,640 Speaker 1: waiting for, but hopefully they will be publishing soon by 397 00:23:00,680 --> 00:23:04,120 Speaker 1: and large, and we're talking about a short time table. Uh, 398 00:23:04,160 --> 00:23:07,960 Speaker 1: it can be as as as as day of for 399 00:23:08,560 --> 00:23:12,040 Speaker 1: quote unquote approval or last about a week long, but 400 00:23:12,160 --> 00:23:15,159 Speaker 1: it does vary school to school, state by state. A 401 00:23:15,160 --> 00:23:19,159 Speaker 1: lot of these schools are either requiring athletes to provide 402 00:23:19,160 --> 00:23:24,320 Speaker 1: it directly the contemplated deals directly to the compliance department, 403 00:23:24,760 --> 00:23:29,200 Speaker 1: or utilize one of these third party platforms that they 404 00:23:29,240 --> 00:23:33,000 Speaker 1: have aligned with, such as an influencer, a team works, 405 00:23:33,280 --> 00:23:36,800 Speaker 1: or an open doors or athliance. Darren, I mean, I'm 406 00:23:36,880 --> 00:23:39,960 Speaker 1: I'm also wondering one of the elements that was talked 407 00:23:39,960 --> 00:23:42,959 Speaker 1: about heading into this was that in terms of evening 408 00:23:43,000 --> 00:23:47,320 Speaker 1: the playing field, we might see female athletes, you know, 409 00:23:47,440 --> 00:23:51,240 Speaker 1: benefit in a way that they haven't before. You know, 410 00:23:51,280 --> 00:23:54,080 Speaker 1: the example that's come up in a lot of our reporting. 411 00:23:54,080 --> 00:23:57,520 Speaker 1: Another is you think about the Yukon women's basketball team 412 00:23:57,560 --> 00:24:01,800 Speaker 1: and sort of their notoriety and and they're sort of 413 00:24:01,960 --> 00:24:06,520 Speaker 1: fame essentially sort of peeking in college rather than in 414 00:24:06,520 --> 00:24:09,800 Speaker 1: in the professional leagues. Are you seeing any of that? Again, 415 00:24:10,000 --> 00:24:13,359 Speaker 1: knowing that it's early days, are you seeing deals go 416 00:24:14,200 --> 00:24:19,600 Speaker 1: maybe more than than anticipated or disproportionately in any way 417 00:24:19,680 --> 00:24:23,080 Speaker 1: toward women versus men? Like, what's the breakdown from what 418 00:24:23,160 --> 00:24:26,600 Speaker 1: you can see anecdotally. You know, we're actually seeing a 419 00:24:26,680 --> 00:24:31,159 Speaker 1: healthy dose of which I'm really happy about and what 420 00:24:31,320 --> 00:24:34,480 Speaker 1: I somewhat expected. And there are a lot of maysayers 421 00:24:34,600 --> 00:24:37,960 Speaker 1: going into this saying there's going to be such disparity 422 00:24:38,080 --> 00:24:41,240 Speaker 1: between the male and female athletes. But what we're quickly 423 00:24:41,280 --> 00:24:45,600 Speaker 1: finding is that female athletes have a tendency to do 424 00:24:45,640 --> 00:24:49,159 Speaker 1: a better job branding themselves and attract the following and 425 00:24:49,200 --> 00:24:52,160 Speaker 1: really engaging with their audience on a number of platforms. 426 00:24:52,680 --> 00:24:54,919 Speaker 1: As I mentioned before, I've been fortunate to work with 427 00:24:54,960 --> 00:24:57,520 Speaker 1: the Cabin of twins Haley and Hannah from President State. 428 00:24:58,040 --> 00:25:00,920 Speaker 1: We did three deals within the first couple of days 429 00:25:01,280 --> 00:25:05,000 Speaker 1: of N I L and they were large deals. Um 430 00:25:05,080 --> 00:25:08,960 Speaker 1: and we've had so many offers come in in the meantime, 431 00:25:09,000 --> 00:25:10,920 Speaker 1: and we've we've we knew that we wanted to take 432 00:25:10,960 --> 00:25:14,280 Speaker 1: advantage of the attention day one, day two, and then 433 00:25:14,320 --> 00:25:16,960 Speaker 1: take a break because obviously there's a concern about over 434 00:25:17,000 --> 00:25:20,240 Speaker 1: saturation and staying true to the brand and making sure 435 00:25:20,280 --> 00:25:21,960 Speaker 1: that these are brands that they want to align with. 436 00:25:22,080 --> 00:25:24,720 Speaker 1: But we have some more deals in the works that 437 00:25:24,800 --> 00:25:27,680 Speaker 1: should get done pretty soon. I think they're a very 438 00:25:27,720 --> 00:25:33,000 Speaker 1: good example of how female athletes can absolutely benefit to 439 00:25:33,119 --> 00:25:35,320 Speaker 1: a great extent by and I with N I L. 440 00:25:35,840 --> 00:25:38,560 Speaker 1: And it's not just that they're great basketball players, but 441 00:25:38,680 --> 00:25:43,880 Speaker 1: they've announced over three million followers on TikTok together over 442 00:25:44,400 --> 00:25:48,560 Speaker 1: six thousand followers on Instagram. They're very active on YouTube. 443 00:25:48,840 --> 00:25:52,160 Speaker 1: There's another athlete I've been working with, another female basketball player, 444 00:25:52,240 --> 00:25:54,960 Speaker 1: Kasey Ferguson, who's about to announce a deal. She has 445 00:25:55,000 --> 00:25:58,280 Speaker 1: over two million followers on TikTok. I don't really have 446 00:25:58,400 --> 00:26:01,240 Speaker 1: a lot of mail at LEAs in college who have 447 00:26:01,400 --> 00:26:05,760 Speaker 1: millions of followers. On TikTok and on Instagram. Yet we're 448 00:26:05,760 --> 00:26:09,840 Speaker 1: finding female athletes with those types of followings, and by 449 00:26:09,960 --> 00:26:13,560 Speaker 1: virtue of that, a lot of brands are very interested. Um. 450 00:26:13,680 --> 00:26:16,120 Speaker 1: And that's not to say that male athletes haven't been 451 00:26:16,119 --> 00:26:18,120 Speaker 1: doing deals and won't be doing deals. We already talked 452 00:26:18,160 --> 00:26:21,560 Speaker 1: about Bryce young Ye who's part of the making a 453 00:26:21,600 --> 00:26:24,600 Speaker 1: million dollars already. So, UM, what I love about it 454 00:26:24,640 --> 00:26:27,600 Speaker 1: is doesn't matter your sex, you're you're, you have opportunity. Here. 455 00:26:28,320 --> 00:26:32,359 Speaker 1: High school star Mikey Williams, he just signed with XL Sports. 456 00:26:32,359 --> 00:26:35,960 Speaker 1: This is according to Sports Illustrated, uh, making him the 457 00:26:36,000 --> 00:26:41,040 Speaker 1: first prep player to join a major sports representation agency. 458 00:26:41,200 --> 00:26:45,080 Speaker 1: And that's also according to ESPN. Again, this is another 459 00:26:45,119 --> 00:26:48,439 Speaker 1: advantage to name, image and likeness, which brings me to 460 00:26:48,480 --> 00:26:51,680 Speaker 1: the next point. When does a high school athlete or 461 00:26:51,720 --> 00:26:55,560 Speaker 1: when does a college athletes strike? Do you take it 462 00:26:55,600 --> 00:26:59,199 Speaker 1: when it's going now or do you wait later? Or 463 00:26:59,240 --> 00:27:01,320 Speaker 1: why even wait? Because if you can get all the 464 00:27:01,320 --> 00:27:05,480 Speaker 1: money while you can, why wait? So what what is 465 00:27:05,520 --> 00:27:09,520 Speaker 1: the strategy for a student? Well, what's the thing? I mean? 466 00:27:09,840 --> 00:27:15,199 Speaker 1: I think there's no general strategy that sure can be adopted. 467 00:27:15,400 --> 00:27:19,280 Speaker 1: I think every athlete at least, the more prominent ones 468 00:27:19,320 --> 00:27:23,120 Speaker 1: with the big followings, the talented athletes on the court, 469 00:27:23,160 --> 00:27:26,280 Speaker 1: on the field, etcetera. Should surround themselves with a strong 470 00:27:26,320 --> 00:27:29,840 Speaker 1: business team and certainly get as many experts as possible 471 00:27:29,840 --> 00:27:33,639 Speaker 1: within their circles to best create a strategy. But you 472 00:27:33,680 --> 00:27:36,200 Speaker 1: know they're there. You don't want to oversaturate. You don't 473 00:27:36,200 --> 00:27:39,399 Speaker 1: want to affiliate with brands that aren't good bit product 474 00:27:39,480 --> 00:27:42,159 Speaker 1: or services that you actually have never used or have 475 00:27:42,240 --> 00:27:45,080 Speaker 1: no interest in using um and never want to sell 476 00:27:45,160 --> 00:27:48,080 Speaker 1: yourself short. And that goes back to what I said earlier, 477 00:27:48,119 --> 00:27:50,520 Speaker 1: which is if you're doing a deal for twenty dollars 478 00:27:50,760 --> 00:27:53,640 Speaker 1: or for merchandise, it's going to be really hard then 479 00:27:53,680 --> 00:27:56,840 Speaker 1: to command those massive dollars from other brands because you've 480 00:27:56,880 --> 00:27:59,560 Speaker 1: set a standard for yourself, So you don't want to 481 00:27:59,600 --> 00:28:02,640 Speaker 1: jump at every single opportunity. You certainly want to negotiate 482 00:28:02,920 --> 00:28:05,800 Speaker 1: those deals. Make sure you're affiliating with the right brands, 483 00:28:06,119 --> 00:28:09,480 Speaker 1: understanding that contracts are broken all the time. Make sure 484 00:28:09,520 --> 00:28:12,840 Speaker 1: you're also doing deals with recordable brands, because just just 485 00:28:12,880 --> 00:28:15,000 Speaker 1: because it may say that you're entitled to a hundred 486 00:28:15,040 --> 00:28:17,080 Speaker 1: thousand dollars on a piece of paper doesn't mean, you're 487 00:28:17,080 --> 00:28:18,639 Speaker 1: actually going to get paid that and then do you 488 00:28:18,720 --> 00:28:20,560 Speaker 1: want to be in a position where you have to 489 00:28:20,600 --> 00:28:23,480 Speaker 1: sue that company. I've had a lot of considerations that 490 00:28:23,600 --> 00:28:26,320 Speaker 1: come in play, and but I've had an opportunity to 491 00:28:26,320 --> 00:28:29,199 Speaker 1: work with a lot of athletes as counsel um. But 492 00:28:29,560 --> 00:28:32,920 Speaker 1: there's hundreds of thousands of college athletes out there, and 493 00:28:33,200 --> 00:28:35,680 Speaker 1: not every athlete will sign with an age and every 494 00:28:35,680 --> 00:28:39,480 Speaker 1: athlete will sign with a lawyer, and so I think 495 00:28:39,560 --> 00:28:42,120 Speaker 1: unfortunately a lot of these athletes will be disadvantaged by 496 00:28:42,160 --> 00:28:44,600 Speaker 1: not having counsel in a lot of these situations and 497 00:28:44,600 --> 00:28:47,520 Speaker 1: not really know what to do. Hopefully, the universities do 498 00:28:47,560 --> 00:28:50,760 Speaker 1: what they can to bridge the gap, providing financial literacy, 499 00:28:50,840 --> 00:28:54,760 Speaker 1: life skills workshops, which by the way, we included as 500 00:28:54,760 --> 00:28:57,240 Speaker 1: a requirement in our law in the state of Florida 501 00:28:57,720 --> 00:29:00,360 Speaker 1: prior to the first and third years of enrollment. Uh, 502 00:29:00,520 --> 00:29:04,000 Speaker 1: the universities have to provide at least five hours of 503 00:29:04,040 --> 00:29:06,360 Speaker 1: that type of education to happen. And I think that's 504 00:29:06,360 --> 00:29:10,320 Speaker 1: really important. Darren, what type of products or endorsements are 505 00:29:10,320 --> 00:29:12,880 Speaker 1: strictly off limits? And I'm sure I can probably guess 506 00:29:13,200 --> 00:29:15,920 Speaker 1: some of them, But does it very state by state? 507 00:29:16,440 --> 00:29:19,960 Speaker 1: Very state by state and school by school. So I'll 508 00:29:20,040 --> 00:29:23,600 Speaker 1: use my state in Florida as an example. The law 509 00:29:23,760 --> 00:29:27,360 Speaker 1: doesn't expressly prohibit any categories. We leave it up to 510 00:29:27,400 --> 00:29:33,880 Speaker 1: the schools, Whereas Texas expressly prohibits things like tobacco, alcohol 511 00:29:34,040 --> 00:29:42,280 Speaker 1: related endorsements, adult entertainment, casinos, sports betting, anabolic steroids, so on, 512 00:29:42,360 --> 00:29:44,960 Speaker 1: so forth, and the Mississippi has a list as well. 513 00:29:45,560 --> 00:29:48,920 Speaker 1: But to the extent that there's a uh silence by 514 00:29:48,960 --> 00:29:52,720 Speaker 1: the state laws where there are effect laws. Currently, the 515 00:29:52,880 --> 00:29:55,960 Speaker 1: schools have been made it very clear as to what 516 00:29:56,160 --> 00:30:01,440 Speaker 1: types of opportunities are off limits. Um. And we really 517 00:30:01,480 --> 00:30:04,640 Speaker 1: haven't seen any pushing of the envelope there. There was 518 00:30:04,640 --> 00:30:08,240 Speaker 1: an adult entertainment company that emailed a bunch of journalists 519 00:30:08,360 --> 00:30:16,240 Speaker 1: yesterday saying they're interested in doing a deal with athletes. Um, 520 00:30:16,320 --> 00:30:18,640 Speaker 1: you know, we haven't seen any deals there. I think 521 00:30:18,640 --> 00:30:21,320 Speaker 1: the biggest question on that front thus far goes back 522 00:30:21,320 --> 00:30:24,800 Speaker 1: to the bar Stool affiliation, because there is a bar 523 00:30:24,880 --> 00:30:28,800 Speaker 1: Stool branded sports book. My understanding is it's pen that 524 00:30:28,960 --> 00:30:33,480 Speaker 1: operates in Barstool itself as a company is not technically 525 00:30:33,480 --> 00:30:38,080 Speaker 1: the operator. But there is some concern as to whether 526 00:30:38,200 --> 00:30:42,000 Speaker 1: or not that's something that should be acceptable because the 527 00:30:42,040 --> 00:30:45,680 Speaker 1: branding itself, that being bar Stool, is the same whether 528 00:30:45,720 --> 00:30:49,400 Speaker 1: it's Barstool Athletics or Barstool sports Book. But I suppose 529 00:30:49,440 --> 00:30:52,479 Speaker 1: the jury is still out them. So Darren, as we 530 00:30:52,520 --> 00:30:55,120 Speaker 1: wrap up here, and I'm sort of marveling at the 531 00:30:55,160 --> 00:30:58,800 Speaker 1: fact that we've had this entire discussion UM in depth 532 00:30:58,840 --> 00:31:01,360 Speaker 1: and not really talked about the n C double A. 533 00:31:02,120 --> 00:31:06,200 Speaker 1: That feels notable given the history not just of this issue, 534 00:31:06,240 --> 00:31:09,920 Speaker 1: but the history of college athletics and how much power 535 00:31:10,360 --> 00:31:13,040 Speaker 1: the n C double A has wielded. Distill for us 536 00:31:13,040 --> 00:31:15,720 Speaker 1: if you can kind of where the n C double 537 00:31:15,760 --> 00:31:18,320 Speaker 1: A is on all of this. There was a sort 538 00:31:18,360 --> 00:31:22,840 Speaker 1: of eleventh hour scramble to sort of paper over something 539 00:31:23,440 --> 00:31:26,560 Speaker 1: um from them. I'm editorializing a bit here, but where 540 00:31:26,560 --> 00:31:29,080 Speaker 1: does this go when you factor in what the n 541 00:31:29,080 --> 00:31:31,440 Speaker 1: C double A, you know, may continue to look at here, 542 00:31:31,800 --> 00:31:35,320 Speaker 1: what Congress may do, like what play this out over 543 00:31:35,360 --> 00:31:39,200 Speaker 1: the short and mid term for us? Yeah, isn't it amazing? 544 00:31:39,440 --> 00:31:41,880 Speaker 1: I Mean you would think that the n C would 545 00:31:41,880 --> 00:31:43,760 Speaker 1: have been all over this, but we haven't heard a 546 00:31:43,800 --> 00:31:47,880 Speaker 1: peep from them through three weeks. And this is completely 547 00:31:47,920 --> 00:31:52,960 Speaker 1: the byproduct of about a month ago, Supreme Court deciding 548 00:31:53,600 --> 00:31:57,480 Speaker 1: in a unanimous opinion nine euro against the n c 549 00:31:57,640 --> 00:32:03,280 Speaker 1: A case. The also and while that case was strictly 550 00:32:03,320 --> 00:32:10,960 Speaker 1: about restrictions on academic related benefits, UH, the obtaining itself 551 00:32:11,040 --> 00:32:15,400 Speaker 1: and certainly the concurring opinion by Supreme Court Justice Kavanaugh, 552 00:32:16,440 --> 00:32:19,120 Speaker 1: has has put a lot of fear into the n 553 00:32:19,160 --> 00:32:22,960 Speaker 1: c A, which then caused the n c A that, 554 00:32:23,560 --> 00:32:27,280 Speaker 1: by the way, had created pages upon pages of legislation 555 00:32:27,360 --> 00:32:30,239 Speaker 1: that the Division one Council and Board of Governors were 556 00:32:30,280 --> 00:32:33,240 Speaker 1: supposed to vote on, and had tons of guardrails for 557 00:32:33,360 --> 00:32:36,080 Speaker 1: n I L and in fact have a t p A, 558 00:32:36,080 --> 00:32:40,600 Speaker 1: a third party administrator oversee every deal and either approve 559 00:32:40,680 --> 00:32:44,200 Speaker 1: or disapproved every deal across the country that was scrapped 560 00:32:44,520 --> 00:32:50,000 Speaker 1: immediately surrounding that decision, And so we had a situation 561 00:32:50,120 --> 00:32:54,720 Speaker 1: where June thirty had around four pm Eastern, less than 562 00:32:54,760 --> 00:32:57,200 Speaker 1: twenty four hours before some states were going to go live. 563 00:32:57,320 --> 00:33:01,720 Speaker 1: That's when the NA finally decided, Okay, we're removing our 564 00:33:01,760 --> 00:33:05,480 Speaker 1: restriction with certain cats. Has to be quick pro quo 565 00:33:05,520 --> 00:33:08,040 Speaker 1: and these deals athletes have to deliver something in exchange 566 00:33:08,040 --> 00:33:11,280 Speaker 1: for the money they're receiving. The deals can't be contingent 567 00:33:11,280 --> 00:33:14,000 Speaker 1: on the athletes and rolling at a school or staying 568 00:33:14,000 --> 00:33:16,080 Speaker 1: at a school, and there can't be these sorts of 569 00:33:16,800 --> 00:33:20,080 Speaker 1: performance bonuses and as they can't learn more money if 570 00:33:20,120 --> 00:33:22,480 Speaker 1: he or she performs to a certain level on the field, 571 00:33:22,520 --> 00:33:25,680 Speaker 1: on the court, et cetera. Outside of that, yes, he's 572 00:33:25,720 --> 00:33:28,760 Speaker 1: been completely silent, and I don't think that's going to 573 00:33:28,840 --> 00:33:31,400 Speaker 1: change in any way, to be honest, there's just so 574 00:33:31,520 --> 00:33:35,480 Speaker 1: much fear that if the n A a cartel that's 575 00:33:35,480 --> 00:33:38,640 Speaker 1: been found to have colluded in the past illegally in 576 00:33:38,800 --> 00:33:42,200 Speaker 1: violation of anti judge laws, if they do anything, it's 577 00:33:42,360 --> 00:33:45,720 Speaker 1: gonna be sued left and right. And moves Well, thank 578 00:33:45,760 --> 00:33:47,360 Speaker 1: you so much. It was really good to spend some 579 00:33:47,360 --> 00:33:48,959 Speaker 1: time to I feel like we're gonna be checking in 580 00:33:48,960 --> 00:33:51,040 Speaker 1: with you on the regular if you'll let us, just 581 00:33:51,080 --> 00:33:53,880 Speaker 1: because this is fast moving and you really are in 582 00:33:53,920 --> 00:33:56,320 Speaker 1: the middle of this in a way that very few are. 583 00:33:56,440 --> 00:33:58,960 Speaker 1: Darren Heightner is the founder of Heightner Legal. He's a 584 00:33:58,960 --> 00:34:01,880 Speaker 1: sports lawyer. He's an adjunct professor at the University of 585 00:34:01,880 --> 00:34:05,680 Speaker 1: Florida Law School, where he earned his law degree and 586 00:34:05,720 --> 00:34:09,640 Speaker 1: also went undergrad Go Gators and UH is a clear 587 00:34:09,680 --> 00:34:12,440 Speaker 1: expert on name image and likeness. So definitely follow him 588 00:34:12,680 --> 00:34:14,640 Speaker 1: on Twitter because you'll get a good sense of of 589 00:34:14,680 --> 00:34:16,799 Speaker 1: what's going on. So Darren, thank you so much. We 590 00:34:16,800 --> 00:34:19,160 Speaker 1: know it's a super busy time for you. Thank you. 591 00:34:19,280 --> 00:34:22,560 Speaker 1: It's a pleasure, alright. So guys, fascinating conversation and if 592 00:34:22,560 --> 00:34:24,680 Speaker 1: you want to hear the entirety of it, check out 593 00:34:25,000 --> 00:34:28,239 Speaker 1: our podcast feed because we went even longer and bar 594 00:34:28,320 --> 00:34:30,560 Speaker 1: as you were joking after we finished recording, we could 595 00:34:30,600 --> 00:34:33,480 Speaker 1: have gone even longer with Darren Heitner, but he was 596 00:34:33,520 --> 00:34:36,239 Speaker 1: doing deals. I mean, and that's what's fascinating to me 597 00:34:36,280 --> 00:34:40,319 Speaker 1: about this is we're three weeks in and already this 598 00:34:40,440 --> 00:34:44,839 Speaker 1: flywheel is humming. And you have to imagine that even 599 00:34:44,880 --> 00:34:47,880 Speaker 1: while the kinks are being worked out, lynchy deals are 600 00:34:47,880 --> 00:34:50,279 Speaker 1: getting done and I think we're gonna see, you know, 601 00:34:50,320 --> 00:34:53,880 Speaker 1: maybe some surprises along the way. And and and Darren 602 00:34:53,920 --> 00:34:56,960 Speaker 1: certainly indicated that what really got my attention was the 603 00:34:57,239 --> 00:34:59,680 Speaker 1: he said, the silence from the n C double A. Now, 604 00:34:59,719 --> 00:35:02,120 Speaker 1: the C double A is the sole reason that we 605 00:35:02,239 --> 00:35:04,520 Speaker 1: have name image and likeness, and this movement has been 606 00:35:04,520 --> 00:35:06,680 Speaker 1: going on for the past few years. And he said 607 00:35:06,680 --> 00:35:09,239 Speaker 1: he doesn't expect to hear anything from the n C 608 00:35:09,360 --> 00:35:11,480 Speaker 1: double A for a long long time. They're basically going 609 00:35:11,520 --> 00:35:13,440 Speaker 1: to crawl back into the cave and just let the 610 00:35:13,440 --> 00:35:16,560 Speaker 1: dice roll where it may. Amazing, I mean, I I 611 00:35:16,880 --> 00:35:19,640 Speaker 1: that was my big takeaway too, is that the n 612 00:35:19,640 --> 00:35:23,399 Speaker 1: C double A has essentially just rolled over on this 613 00:35:23,520 --> 00:35:27,680 Speaker 1: and and been overtaken by state legislatures and and soon 614 00:35:27,800 --> 00:35:31,280 Speaker 1: Congress and obviously the Supreme Court way and has largely 615 00:35:31,360 --> 00:35:34,360 Speaker 1: rendered it um. I don't know if impotent is the 616 00:35:34,440 --> 00:35:39,520 Speaker 1: right word, but but certainly ineffective and less important bar Yeah, 617 00:35:40,120 --> 00:35:43,080 Speaker 1: this is this is huge, and I mean there's so 618 00:35:43,080 --> 00:35:47,400 Speaker 1: many angles here. It goes from the big college to 619 00:35:47,480 --> 00:35:49,960 Speaker 1: the little college, to the high school players to the 620 00:35:50,040 --> 00:35:55,120 Speaker 1: college players. I just wonder what happens to those small colleges, 621 00:35:55,200 --> 00:35:58,879 Speaker 1: the colleges where okay, we you know, we have like, 622 00:35:59,000 --> 00:36:01,200 Speaker 1: you know, eight or nine rich students or something like 623 00:36:01,200 --> 00:36:04,360 Speaker 1: that whatever, and you know it's not a big, you know, 624 00:36:04,520 --> 00:36:08,799 Speaker 1: big campus. What happens to those guys? This this is 625 00:36:10,200 --> 00:36:13,359 Speaker 1: now and again and it's funny. My my wife brought 626 00:36:13,400 --> 00:36:16,319 Speaker 1: this up as I was a driving home and she said, 627 00:36:16,480 --> 00:36:18,880 Speaker 1: I've got mixed reviews, And I said, you know what, 628 00:36:19,400 --> 00:36:22,520 Speaker 1: you sound a lot like Lynchy because you know it's 629 00:36:22,640 --> 00:36:26,080 Speaker 1: and and we were talking about this. You know, is 630 00:36:26,640 --> 00:36:29,600 Speaker 1: a scholarship enough or now is the sky the limit? 631 00:36:29,719 --> 00:36:31,960 Speaker 1: Who knows what's going to happen. I will say one 632 00:36:32,040 --> 00:36:34,719 Speaker 1: last thing, which I was very happy to hear from 633 00:36:34,800 --> 00:36:37,440 Speaker 1: Darren Heitner and having done some work around this, we 634 00:36:37,440 --> 00:36:40,960 Speaker 1: we all have this notion that you're seeing some measure 635 00:36:41,000 --> 00:36:45,200 Speaker 1: of gender parity when it comes to how these deals 636 00:36:45,200 --> 00:36:48,359 Speaker 1: are getting done. I think that's a really important thing 637 00:36:48,880 --> 00:36:51,000 Speaker 1: as well. And it is something that I think a 638 00:36:51,000 --> 00:36:54,720 Speaker 1: lot of folks anticipated. Chris Murphy, the U S Senator 639 00:36:54,880 --> 00:36:58,840 Speaker 1: from Connecticut, you know obviously he's interested in things like 640 00:36:58,880 --> 00:37:01,080 Speaker 1: the Yukon women's fast ball team being able to be 641 00:37:01,120 --> 00:37:03,960 Speaker 1: compensated for their great work. And so I think you 642 00:37:04,000 --> 00:37:06,359 Speaker 1: are seeing some of those deals get done. Um. And 643 00:37:06,400 --> 00:37:10,160 Speaker 1: it's not just male college football stars. It it uh, 644 00:37:10,320 --> 00:37:13,360 Speaker 1: it is accruing. Uh, the benefits are accruing to to 645 00:37:13,440 --> 00:37:16,960 Speaker 1: a wider set of athletes as well. Mondros you didn't 646 00:37:16,960 --> 00:37:18,839 Speaker 1: want to pick. That's something not been germ nic kids. 647 00:37:18,840 --> 00:37:20,680 Speaker 1: Feels better to be than the one, than number five. 648 00:37:20,719 --> 00:37:22,320 Speaker 1: I'll wear a number because of Mike. We have a 649 00:37:22,400 --> 00:37:24,240 Speaker 1: chance to go for three in a row. Good numbers 650 00:37:24,239 --> 00:37:26,400 Speaker 1: are a good time. When I first started wearing the number, 651 00:37:26,440 --> 00:37:29,440 Speaker 1: I would just have been proud. Bloomberg Business of Sports, 652 00:37:29,640 --> 00:37:34,399 Speaker 1: the number of the week. Ah, here we go. Now 653 00:37:34,520 --> 00:37:36,680 Speaker 1: this is where we have a story that's on the 654 00:37:36,680 --> 00:37:42,880 Speaker 1: Bloomberg terminal about small Swiss sneaker brand on a g 655 00:37:43,280 --> 00:37:48,319 Speaker 1: They have picked up Roger Federer, the tennis champion, from 656 00:37:48,360 --> 00:37:51,840 Speaker 1: the bank from US backing. Now, what I want to 657 00:37:51,880 --> 00:37:54,120 Speaker 1: know as I was reading on into the story, I 658 00:37:54,200 --> 00:37:57,080 Speaker 1: want to talk about the juggernaut in the field, Nike. 659 00:37:58,400 --> 00:38:02,120 Speaker 1: I want to know what is our market value? The 660 00:38:02,160 --> 00:38:06,439 Speaker 1: market value of Nike. Yes, I should know this one. 661 00:38:06,920 --> 00:38:11,440 Speaker 1: This is a very Bloomberg type question. So it's not 662 00:38:11,520 --> 00:38:14,800 Speaker 1: as big as the tech companies. It's definitely gone down. 663 00:38:15,120 --> 00:38:18,400 Speaker 1: I believe in in value or sort of stabilizing the value. 664 00:38:19,160 --> 00:38:23,279 Speaker 1: I'll go with this market cap right yes you're asking, Yes, 665 00:38:23,840 --> 00:38:27,520 Speaker 1: I'll go to fifty or a nice round quarter of 666 00:38:27,560 --> 00:38:30,960 Speaker 1: a quarter of a trillion dollars. You know what, We'll 667 00:38:31,040 --> 00:38:34,200 Speaker 1: just stop the game right now, because that's exactly what 668 00:38:34,320 --> 00:38:38,800 Speaker 1: that is, two hundred fifty billion dollars. I'm sorry, Lynchi 669 00:38:46,400 --> 00:38:49,239 Speaker 1: if he hit it right on the nose, man I 670 00:38:49,280 --> 00:38:51,560 Speaker 1: gotta give it. Look at you. You You know what it's 671 00:38:51,600 --> 00:38:54,560 Speaker 1: the it's the Bloomberg training of you know that good 672 00:38:54,560 --> 00:38:57,920 Speaker 1: old d E S screen for Bloomberg terminal customers. If 673 00:38:57,960 --> 00:39:01,760 Speaker 1: you know, you know I got I got good training 674 00:39:01,760 --> 00:39:05,759 Speaker 1: when I started as a Bloomberg print reporter Lynching. So basically, 675 00:39:06,520 --> 00:39:09,200 Speaker 1: Jason Kelly won the toss, he elected to receive. He 676 00:39:09,239 --> 00:39:11,359 Speaker 1: went down the field and scored a touchdown and get 677 00:39:11,400 --> 00:39:13,960 Speaker 1: my hands on the football. Right, That's exactly right, that's exactly. 678 00:39:14,160 --> 00:39:16,560 Speaker 1: That's the new it's the new NFL playoff roles man. 679 00:39:17,200 --> 00:39:21,319 Speaker 1: Forget the field goals. Sorry, but exactly we know you're 680 00:39:21,360 --> 00:39:23,040 Speaker 1: good at field goal kicking. That's why I had to 681 00:39:23,200 --> 00:39:28,360 Speaker 1: score a touchdown. By the way, recently they post an 682 00:39:28,400 --> 00:39:33,359 Speaker 1: annual sales Nike oft four point five billion dollars. Well, 683 00:39:33,400 --> 00:39:36,240 Speaker 1: and we also should note um, just because we're always 684 00:39:36,239 --> 00:39:40,080 Speaker 1: calling back to interesting conversations that that we've had. Um one, 685 00:39:40,160 --> 00:39:44,080 Speaker 1: of course, that sneaker brand is the sponsor of Jake Riley, 686 00:39:44,080 --> 00:39:46,680 Speaker 1: who was our guest and uh, the olympian who is 687 00:39:46,760 --> 00:39:49,240 Speaker 1: running in just a couple of weeks. He is still 688 00:39:49,640 --> 00:39:53,879 Speaker 1: he hasn't even headed to Tokyo yet. Fascinating conversation understanding 689 00:39:53,880 --> 00:39:57,400 Speaker 1: how this you know, young guy, first time olympian strikes 690 00:39:57,440 --> 00:40:01,719 Speaker 1: this deal and he has visions of uh running his 691 00:40:01,719 --> 00:40:04,480 Speaker 1: own shoe company someday. I thought, I really really enjoyed 692 00:40:04,480 --> 00:40:07,040 Speaker 1: that conversation, So check that out on our podcast feed. 693 00:40:07,080 --> 00:40:09,480 Speaker 1: I feel like I'm just like selling podcasts left and 694 00:40:09,600 --> 00:40:13,160 Speaker 1: right here. Guys, work it, baby, work it. You've been 695 00:40:13,200 --> 00:40:15,440 Speaker 1: listening to Bloomberg Business of Sports. We're here each and 696 00:40:15,480 --> 00:40:17,960 Speaker 1: every week for you at the same time, plus online. 697 00:40:18,080 --> 00:40:20,880 Speaker 1: As you must know by now, wherever you get your podcast, 698 00:40:20,920 --> 00:40:23,680 Speaker 1: let's drop on Monday's, Wednesdays and Thursdays in the meantime, 699 00:40:23,719 --> 00:40:26,960 Speaker 1: find me Jason Kelly at Jason Kelly News and I'm 700 00:40:26,960 --> 00:40:29,040 Speaker 1: Mike Lynch. All I want is a chance to compete. 701 00:40:29,120 --> 00:40:34,719 Speaker 1: You can find me at Lynch w CBB yeah, or 702 00:40:34,880 --> 00:40:40,520 Speaker 1: put upon Lynchi. I'm Michael Barr on Twitter at Big 703 00:40:40,560 --> 00:40:44,200 Speaker 1: Bars Sports. You're listening to Bloomberg Business with Sports Bloomberg 704 00:40:44,320 --> 00:40:45,480 Speaker 1: Radio around the world.