1 00:00:02,480 --> 00:00:07,920 Speaker 1: Bloomberg Audio Studios, Podcasts, Radio News. 2 00:00:12,960 --> 00:00:13,720 Speaker 2: Welcome back to the Deal. 3 00:00:13,720 --> 00:00:16,960 Speaker 3: I'm your host, Jason Kelly alongside my partner Alex Rodriguez. 4 00:00:17,000 --> 00:00:21,280 Speaker 3: All right, Alex, you are in Los Angeles. We're recording 5 00:00:21,320 --> 00:00:25,760 Speaker 3: this on Tuesday. You've got a massive game coming up, 6 00:00:25,800 --> 00:00:28,880 Speaker 3: so by the time people hear this, you will either 7 00:00:28,920 --> 00:00:30,920 Speaker 3: be onto the next round or you're gonna have another 8 00:00:30,960 --> 00:00:33,600 Speaker 3: big game coming up. But I have to do a 9 00:00:33,600 --> 00:00:36,639 Speaker 3: beat with you about this game. Over the weekend, I 10 00:00:36,720 --> 00:00:40,320 Speaker 3: watched every minute of it on TV. You were obviously 11 00:00:40,400 --> 00:00:43,720 Speaker 3: there in Minnesota. I gotta say I was watching a 12 00:00:43,760 --> 00:00:46,120 Speaker 3: lot of basketball this weekend. I don't think there was 13 00:00:46,159 --> 00:00:48,959 Speaker 3: an arena that had anything like the. 14 00:00:49,000 --> 00:00:50,360 Speaker 2: Energy that the Target Center did. 15 00:00:50,720 --> 00:00:53,320 Speaker 4: It was a wild weekend in Minnesota, I gotta tell you. 16 00:00:53,440 --> 00:00:56,320 Speaker 4: And our fan base just showed up in the biggest 17 00:00:56,320 --> 00:00:58,720 Speaker 4: way for the biggest games. I mean, back to back. 18 00:00:59,800 --> 00:01:03,520 Speaker 4: It was so fun Friday and Sunday. And I'm not 19 00:01:03,560 --> 00:01:06,040 Speaker 4: saying that just because we won. I mean both games 20 00:01:06,040 --> 00:01:08,119 Speaker 4: honestly could have gone either way. We could be down 21 00:01:08,160 --> 00:01:09,600 Speaker 4: three to one, just like we're up three to one. 22 00:01:09,720 --> 00:01:13,319 Speaker 4: So exciting and a lot of interests in Minnesota. 23 00:01:13,480 --> 00:01:16,320 Speaker 3: Yeah, and so tell me about that interest, because obviously, 24 00:01:16,560 --> 00:01:19,480 Speaker 3: you know, a lot of it is about the matchups. 25 00:01:19,840 --> 00:01:22,600 Speaker 3: People are tuning in in a really meaningful way. 26 00:01:22,640 --> 00:01:24,360 Speaker 2: It sounds like they are. 27 00:01:24,480 --> 00:01:26,720 Speaker 4: And Jason, the thing that jumped off the page for 28 00:01:26,800 --> 00:01:29,520 Speaker 4: me is I had a friend who flew in from 29 00:01:29,560 --> 00:01:32,080 Speaker 4: New York and he needed tickets and there was no 30 00:01:32,160 --> 00:01:35,760 Speaker 4: floor tickets available. He ended up buying one ticket for 31 00:01:35,840 --> 00:01:38,679 Speaker 4: seventeen thousand, five hundred, and then he cut a deal 32 00:01:38,760 --> 00:01:41,959 Speaker 4: with a broker and he got thirty thousand for two games, 33 00:01:41,959 --> 00:01:45,479 Speaker 4: so he paid fifteen for each. And I said, my goodness, 34 00:01:45,880 --> 00:01:46,560 Speaker 4: that's insane. 35 00:01:46,840 --> 00:01:48,440 Speaker 2: In Minneapolis, Minnesota. 36 00:01:48,520 --> 00:01:52,440 Speaker 4: In Minneapolis, yes, they love their basketball and they're hungry. 37 00:01:53,000 --> 00:01:56,160 Speaker 4: And we have a team that's now been together. You know, 38 00:01:56,200 --> 00:01:58,720 Speaker 4: the thing that I've learned in sports is one of 39 00:01:58,760 --> 00:02:03,080 Speaker 4: the most powerful arbitrages is youth and experience with talent. 40 00:02:03,520 --> 00:02:06,120 Speaker 4: And we have three guys that were drafted five years 41 00:02:06,120 --> 00:02:10,040 Speaker 4: ago together in nas reed Jada McDaniels and Anthony Edwards. 42 00:02:10,520 --> 00:02:12,760 Speaker 4: And Anthony Edwards is growing up right in front of America. 43 00:02:12,840 --> 00:02:15,240 Speaker 4: I mean, we've known this in Minneapolis. I think the 44 00:02:15,240 --> 00:02:17,840 Speaker 4: world is getting to see how special this young man is. 45 00:02:18,440 --> 00:02:20,720 Speaker 3: Yeah, it's a big moment for the NBA. I feel 46 00:02:20,760 --> 00:02:23,680 Speaker 3: like these playoffs are just electric if you look across everything. 47 00:02:23,720 --> 00:02:25,440 Speaker 3: I know, we talk about it every week on the show, 48 00:02:25,480 --> 00:02:28,280 Speaker 3: but it continues to be true. All right, So you're 49 00:02:28,320 --> 00:02:29,680 Speaker 3: going to be there. Then you and I are going 50 00:02:29,760 --> 00:02:32,400 Speaker 3: to link up in Miami. We've got a huge week 51 00:02:32,600 --> 00:02:35,440 Speaker 3: coming up for the deal. We are tying it very 52 00:02:35,440 --> 00:02:38,320 Speaker 3: directly to I mean, you live there. I mean you're 53 00:02:38,320 --> 00:02:40,440 Speaker 3: there some of the time. I feel like you're everywhere 54 00:02:40,919 --> 00:02:42,880 Speaker 3: these days. But I spent a lot of time in 55 00:02:42,919 --> 00:02:46,400 Speaker 3: Miami too. But I'm coming down F one weekend. This 56 00:02:46,440 --> 00:02:49,600 Speaker 3: has become something that people just pin on their calendars. 57 00:02:49,960 --> 00:02:52,160 Speaker 3: We're going to catch up with Susie Wolf. She is 58 00:02:52,400 --> 00:02:55,920 Speaker 3: the managing director of F one Academy. She's a force 59 00:02:56,000 --> 00:02:59,239 Speaker 3: to be reckoned with. This is the all female racing 60 00:02:59,280 --> 00:03:04,040 Speaker 3: circuit within F one. Miami is one of the places 61 00:03:04,120 --> 00:03:07,040 Speaker 3: where they run the F one Academy races. There's a 62 00:03:07,080 --> 00:03:10,280 Speaker 3: lot of excitement around that they're premiering a new Netflix 63 00:03:10,280 --> 00:03:12,839 Speaker 3: series all about F one Academy. So I'm just I'm 64 00:03:13,040 --> 00:03:14,280 Speaker 3: so psyched to talk to her. 65 00:03:14,800 --> 00:03:15,840 Speaker 2: And she's really exciting. 66 00:03:15,880 --> 00:03:18,640 Speaker 4: I mean, she's got an incredible story her father was 67 00:03:18,680 --> 00:03:21,400 Speaker 4: in the auto business as well. She recently told me, 68 00:03:21,480 --> 00:03:23,200 Speaker 4: and I know you spent some time with her as well, 69 00:03:23,680 --> 00:03:26,000 Speaker 4: that the first time she got behind the wheel, she 70 00:03:26,040 --> 00:03:26,760 Speaker 4: was two years old. 71 00:03:27,080 --> 00:03:29,160 Speaker 2: Yeah, and at ten she was starting to. 72 00:03:29,200 --> 00:03:30,960 Speaker 4: Kind of drive the gold carts around and she was 73 00:03:31,000 --> 00:03:33,960 Speaker 4: always the only female. And I think you'll hear from 74 00:03:34,000 --> 00:03:36,480 Speaker 4: her like, what are those numbers back then when she 75 00:03:36,560 --> 00:03:39,360 Speaker 4: was ten versus now when she's forty two. 76 00:03:39,560 --> 00:03:42,720 Speaker 3: Yeah, So really excited for that conversation that'll come up 77 00:03:43,000 --> 00:03:44,960 Speaker 3: in a few weeks on your feed, So stay tuned 78 00:03:45,000 --> 00:03:47,080 Speaker 3: for that. The other person we're catching up with down 79 00:03:47,120 --> 00:03:49,840 Speaker 3: to Miami, he lives down there now, Josh Harris. 80 00:03:50,080 --> 00:03:51,560 Speaker 2: What a time to catch up with this. 81 00:03:51,480 --> 00:03:55,320 Speaker 3: Guy, because probably one of the biggest single deals in 82 00:03:55,360 --> 00:03:57,960 Speaker 3: the sports world that's happened in a long time, a 83 00:03:58,120 --> 00:04:01,600 Speaker 3: much anticipated deal for a new stadium in Washington, DC 84 00:04:01,960 --> 00:04:06,680 Speaker 3: announced this week. Josh Harris. I read someone said, Josh 85 00:04:06,720 --> 00:04:09,440 Speaker 3: Harris got done in a very short amount of time. 86 00:04:10,040 --> 00:04:12,920 Speaker 3: What it took in twenty four months, basically what in 87 00:04:13,000 --> 00:04:15,280 Speaker 3: Snyder couldn't get done in twenty four years, which is 88 00:04:15,320 --> 00:04:17,040 Speaker 3: a new stadium for the Washington Commanders. 89 00:04:17,200 --> 00:04:19,440 Speaker 2: This is a massive deal it's a massive deal. 90 00:04:19,480 --> 00:04:21,840 Speaker 4: And that's why these owners are so important, right because 91 00:04:21,920 --> 00:04:24,520 Speaker 4: Josh Harris, who has over three and a half decades 92 00:04:24,560 --> 00:04:27,440 Speaker 4: in private equity with Apollo. You know, the way he 93 00:04:27,480 --> 00:04:29,920 Speaker 4: bought the Sixers deal was a corporate carve out, just 94 00:04:29,920 --> 00:04:33,200 Speaker 4: like his LBO days, and he bought it from Comcast 95 00:04:33,320 --> 00:04:36,360 Speaker 4: at Snyder, who's you know, the legendary at Snyder. And 96 00:04:36,400 --> 00:04:38,000 Speaker 4: you've seen what he's done, such a great job with 97 00:04:38,040 --> 00:04:40,680 Speaker 4: the Sixers and how he's transformed that you know, trust 98 00:04:40,720 --> 00:04:44,120 Speaker 4: the process or it has worked. And now with the Commanders. 99 00:04:44,160 --> 00:04:45,760 Speaker 4: I mean you know this, you went to school right 100 00:04:45,760 --> 00:04:48,479 Speaker 4: down the street, and the political landscape that you have 101 00:04:48,560 --> 00:04:51,520 Speaker 4: to navigate, it takes someone like Josh Harris and his 102 00:04:51,600 --> 00:04:54,280 Speaker 4: ownership group to do such great work in such a 103 00:04:54,279 --> 00:04:55,400 Speaker 4: short period of time. 104 00:04:55,760 --> 00:04:57,480 Speaker 3: Yeah, it's amazing too, and we're going to talk to 105 00:04:57,560 --> 00:04:59,479 Speaker 3: him about this again. That's an episode that'll come up 106 00:04:59,520 --> 00:05:01,800 Speaker 3: in the next few weeks, talk about the fact that 107 00:05:01,880 --> 00:05:05,080 Speaker 3: DC has done two massive deals for stadiums, one with 108 00:05:05,160 --> 00:05:07,279 Speaker 3: Josh Harrison, one with a previous guest on the show, 109 00:05:07,520 --> 00:05:10,960 Speaker 3: Ted Leonsis. So that's what we've got going on this week. 110 00:05:11,080 --> 00:05:13,839 Speaker 3: Coming out today, another really interesting deal maker a new 111 00:05:13,880 --> 00:05:17,240 Speaker 3: team and altogether new team coming onto the scene, Boston Legacy, 112 00:05:17,680 --> 00:05:20,440 Speaker 3: that of course is one of the newest teams coming 113 00:05:20,440 --> 00:05:23,880 Speaker 3: onto the pitch next year for the National Women Soccer League. 114 00:05:23,960 --> 00:05:27,479 Speaker 3: We catch up with the controlling owner there, Jennifer Epstein, 115 00:05:27,520 --> 00:05:30,440 Speaker 3: her family, of course, part of the group that just 116 00:05:30,600 --> 00:05:33,040 Speaker 3: sold the Boston Celtics for a record six point one 117 00:05:33,080 --> 00:05:35,680 Speaker 3: billion dollars. We talked to her about that and about 118 00:05:35,800 --> 00:05:38,040 Speaker 3: what the Legacy is going to mean for one of 119 00:05:38,040 --> 00:05:39,320 Speaker 3: the biggest sports cities in the world. 120 00:05:39,400 --> 00:05:39,960 Speaker 2: That's coming up. 121 00:05:51,560 --> 00:05:53,680 Speaker 3: Hi, everyone, welcome back to the Deal. I'm your host, 122 00:05:53,760 --> 00:05:56,720 Speaker 3: Jason Kelly, alongside my co host and partner Alex Rodriguez. 123 00:05:56,880 --> 00:06:01,000 Speaker 3: So excited to be here today with Jennifer Epstein, the 124 00:06:01,040 --> 00:06:07,080 Speaker 3: controlling owner of the Boston Legacy football Club. She's got 125 00:06:07,200 --> 00:06:11,480 Speaker 3: a long history in sports and we're so excited to 126 00:06:11,520 --> 00:06:12,240 Speaker 3: get into all of it. 127 00:06:12,360 --> 00:06:13,600 Speaker 2: Jennifer, great to be with you. 128 00:06:14,000 --> 00:06:16,360 Speaker 1: Thanks so much for having me. Jason, great to be here, 129 00:06:16,680 --> 00:06:17,440 Speaker 1: Thank you, Alex. 130 00:06:17,720 --> 00:06:19,320 Speaker 2: So we have a lot to talk about. 131 00:06:19,440 --> 00:06:21,320 Speaker 3: We want to talk a little lot about soccer, but 132 00:06:21,440 --> 00:06:23,800 Speaker 3: let's first talk about that banner that is right behind you. 133 00:06:25,400 --> 00:06:29,000 Speaker 3: Twenty twenty four World champion Boston Celtics. It's a moment 134 00:06:29,040 --> 00:06:32,520 Speaker 3: we all remember. Your family was part of the ownership 135 00:06:32,560 --> 00:06:35,520 Speaker 3: group of the Boston Celtics, going back to that two 136 00:06:35,600 --> 00:06:38,560 Speaker 3: thousand and two purchase for what seemed like a crazy 137 00:06:38,600 --> 00:06:40,280 Speaker 3: amount of money at the time three hundred and sixty 138 00:06:40,279 --> 00:06:44,440 Speaker 3: million dollars and obviously the more recent transaction sold for 139 00:06:44,520 --> 00:06:47,800 Speaker 3: six point one billion dollars, a record across the board. 140 00:06:48,120 --> 00:06:50,919 Speaker 3: Tell us about that journey, like what was it like 141 00:06:51,080 --> 00:06:54,719 Speaker 3: to be sort of in it two championships over the 142 00:06:54,720 --> 00:06:57,000 Speaker 3: course of ownership, Like what do you take away from 143 00:06:57,000 --> 00:06:57,640 Speaker 3: that experience. 144 00:06:58,120 --> 00:07:00,800 Speaker 1: I just feel like it was such an honor and 145 00:07:00,880 --> 00:07:04,080 Speaker 1: privilege to be involved with that organization. 146 00:07:04,160 --> 00:07:05,200 Speaker 5: I mean, it starts out. 147 00:07:05,640 --> 00:07:09,000 Speaker 1: I'm a diehard Boston sports fan, grew up in Boston, 148 00:07:09,040 --> 00:07:12,160 Speaker 1: had a real intergenerational connection with my father around sports. 149 00:07:12,680 --> 00:07:13,760 Speaker 5: He's a huge. 150 00:07:13,840 --> 00:07:15,840 Speaker 1: Lover of the game, but is only five foot eight, 151 00:07:15,920 --> 00:07:17,560 Speaker 1: so a career as a player. 152 00:07:17,400 --> 00:07:18,560 Speaker 5: Was not going to happen. 153 00:07:18,640 --> 00:07:21,560 Speaker 1: But in two thousand and two he filled a lifelong 154 00:07:21,640 --> 00:07:24,520 Speaker 1: dream and became a managing partner of the Celtics. And 155 00:07:25,920 --> 00:07:29,000 Speaker 1: Wick Grossbeck, who has led that team, has really just 156 00:07:29,080 --> 00:07:31,080 Speaker 1: built an extraordinary organization. 157 00:07:31,160 --> 00:07:32,679 Speaker 5: You mentioned two championships. 158 00:07:32,960 --> 00:07:35,680 Speaker 1: They've made an incredible impact on and off the court 159 00:07:36,160 --> 00:07:39,280 Speaker 1: and as you said, driven the valuation of that team 160 00:07:39,600 --> 00:07:42,480 Speaker 1: over the past twenty three years, you know, seventeen X 161 00:07:42,680 --> 00:07:46,280 Speaker 1: to you know, an upcoming biggest sports team sale in 162 00:07:46,440 --> 00:07:50,640 Speaker 1: North American history. So there's lots to be inspired by 163 00:07:50,720 --> 00:07:54,520 Speaker 1: in that model. From my vantage point, i'd say, you know, 164 00:07:54,560 --> 00:07:58,480 Speaker 1: it's an organization where from the players and everyone evolved. 165 00:07:58,480 --> 00:08:01,080 Speaker 1: They have bought into this idea that it's team before 166 00:08:01,200 --> 00:08:04,080 Speaker 1: self and you're not always going to win championships, but 167 00:08:04,120 --> 00:08:08,200 Speaker 1: you're going to compete for championships always. And you know, 168 00:08:08,240 --> 00:08:11,560 Speaker 1: it's a team that has always recognized the responsibility to 169 00:08:11,560 --> 00:08:13,880 Speaker 1: have impact both on and off the court. And so 170 00:08:14,480 --> 00:08:17,520 Speaker 1: you know, that's what we're trying to do at Boston Legacy. 171 00:08:17,560 --> 00:08:20,040 Speaker 1: You know, we realize that we have to be fielding 172 00:08:20,080 --> 00:08:23,239 Speaker 1: a team that is competing for championships all the time, 173 00:08:23,760 --> 00:08:26,679 Speaker 1: and you know, we are really also, i think, setting 174 00:08:26,720 --> 00:08:30,320 Speaker 1: a new standard for how sports franchises can connect to 175 00:08:30,440 --> 00:08:33,960 Speaker 1: their community by redefining what a team's commitment to social 176 00:08:34,000 --> 00:08:37,760 Speaker 1: impact really can be. And that's through our public private 177 00:08:37,760 --> 00:08:40,120 Speaker 1: partnership with the City of Boston and the Boston Public 178 00:08:40,120 --> 00:08:42,720 Speaker 1: schools as we renovate a stadium. 179 00:08:42,280 --> 00:08:43,120 Speaker 5: To be our home pitch. 180 00:08:43,840 --> 00:08:47,520 Speaker 4: I guess my question goes back to the Boston Celtics. 181 00:08:47,840 --> 00:08:49,480 Speaker 4: You guys have been part of his ownership now for 182 00:08:49,559 --> 00:08:53,360 Speaker 4: over two decades. When you can receive that call, is 183 00:08:53,360 --> 00:08:55,679 Speaker 4: is there a little bittersweetness? Is it like, eya, we're 184 00:08:55,679 --> 00:08:58,240 Speaker 4: going to make a great return, or is it like, oh, 185 00:08:58,280 --> 00:09:00,559 Speaker 4: we really enjoyed this investment and to be here. 186 00:09:01,120 --> 00:09:02,120 Speaker 2: How do you feel about it? 187 00:09:03,080 --> 00:09:03,960 Speaker 5: So bittersweet? 188 00:09:04,240 --> 00:09:06,640 Speaker 1: At my heart, I'm a fan and I still will 189 00:09:06,679 --> 00:09:10,360 Speaker 1: always be a fan, and I will look forward to, 190 00:09:10,679 --> 00:09:14,679 Speaker 1: you know, going to games for the rest of my life. 191 00:09:14,880 --> 00:09:20,079 Speaker 1: I may not have quite as good seats, but there'll 192 00:09:20,080 --> 00:09:22,240 Speaker 1: be an adjustment just because you. 193 00:09:22,200 --> 00:09:22,880 Speaker 5: Know, I'm a fan. 194 00:09:23,000 --> 00:09:26,600 Speaker 1: But it's also I have relationships with a lot of 195 00:09:26,640 --> 00:09:29,720 Speaker 1: people within that organization and a real respect for them, 196 00:09:29,920 --> 00:09:33,400 Speaker 1: and you know, it will change and I won't have 197 00:09:33,480 --> 00:09:37,240 Speaker 1: that same window to kind of the inner workings of 198 00:09:37,600 --> 00:09:38,360 Speaker 1: that organization. 199 00:09:38,440 --> 00:09:39,800 Speaker 5: So yes, it'll be bittersweet. 200 00:09:39,800 --> 00:09:43,440 Speaker 1: But it's been a phenomenal twenty three years and it's 201 00:09:43,480 --> 00:09:46,640 Speaker 1: taking me to places that I didn't anticipate. I would, 202 00:09:46,720 --> 00:09:50,600 Speaker 1: you know, necessarily go riding the duck boats down Boyleston 203 00:09:50,600 --> 00:09:53,839 Speaker 1: Street with two million fans cheering for the Celtics, I mean, 204 00:09:54,040 --> 00:09:56,719 Speaker 1: you know, and and really helped position me to now 205 00:09:56,800 --> 00:09:59,040 Speaker 1: launch this Club Boston legacy that I hope I will 206 00:09:59,080 --> 00:10:03,440 Speaker 1: also be writing down the Duck Boats celebrating a championship 207 00:10:03,440 --> 00:10:06,280 Speaker 1: with two million fans, where you know there are female 208 00:10:06,280 --> 00:10:08,920 Speaker 1: athletes who are the focus of the celebration. 209 00:10:10,120 --> 00:10:14,120 Speaker 4: So, Jennifer, you mentioned Vick, who's a controlling partner of 210 00:10:14,160 --> 00:10:17,560 Speaker 4: the Boston Celtics and has really done a phenomenal job. 211 00:10:18,000 --> 00:10:20,360 Speaker 4: If you go just fifty thousand feet, what he's done 212 00:10:20,360 --> 00:10:22,840 Speaker 4: with that franchise for over twenty years, two tighters, all 213 00:10:22,880 --> 00:10:25,840 Speaker 4: of that is pretty incredible. But I guess he's also 214 00:10:25,840 --> 00:10:29,200 Speaker 4: one of the most respected governors and revered governors in 215 00:10:29,240 --> 00:10:31,640 Speaker 4: the NBA board, which tells you a lot about who 216 00:10:31,640 --> 00:10:34,240 Speaker 4: he is a character. What lessons can you take for 217 00:10:34,320 --> 00:10:39,680 Speaker 4: him as you embark in your controlling governor in the 218 00:10:39,679 --> 00:10:40,480 Speaker 4: world of soccer. 219 00:10:41,120 --> 00:10:43,800 Speaker 1: I mean, I think he's always had a real respect 220 00:10:43,840 --> 00:10:48,120 Speaker 1: for his partners and a real respect for his players, 221 00:10:48,679 --> 00:10:51,959 Speaker 1: and you know, a real respect for the community and 222 00:10:52,120 --> 00:10:55,640 Speaker 1: his fans, and just you know, everything that he's done 223 00:10:55,720 --> 00:11:00,640 Speaker 1: has really honored that respect. And commitment to the city 224 00:11:00,679 --> 00:11:03,840 Speaker 1: of Boston. In Boston, you know there's a lot of 225 00:11:03,840 --> 00:11:08,600 Speaker 1: pressure here too. We have such a legacy of championships. 226 00:11:07,880 --> 00:11:09,240 Speaker 5: Here in our city. 227 00:11:09,800 --> 00:11:13,760 Speaker 1: How do we show that respect where the stewards really 228 00:11:13,800 --> 00:11:16,160 Speaker 1: have a public asset right as owners of a sports team. 229 00:11:16,440 --> 00:11:18,880 Speaker 1: If we do this correctly, you know, we don't know 230 00:11:18,920 --> 00:11:21,600 Speaker 1: the team. The whole city owns the team, right. And 231 00:11:21,880 --> 00:11:25,480 Speaker 1: these are some of the lessons that I've I take, 232 00:11:25,520 --> 00:11:27,120 Speaker 1: by example, from from Wick. 233 00:11:27,880 --> 00:11:30,760 Speaker 3: You led me exactly where I was hoping we would go, Jennifer, 234 00:11:30,760 --> 00:11:34,040 Speaker 3: which is the Boston of it all. You know, I'm 235 00:11:34,040 --> 00:11:36,360 Speaker 3: here in New York, and you know, I'm sitting virtually 236 00:11:36,400 --> 00:11:40,120 Speaker 3: alongside a New York Yankee, former New York Yankee, who 237 00:11:40,600 --> 00:11:43,600 Speaker 3: may have his own feelings about your sports teams and 238 00:11:43,679 --> 00:11:45,680 Speaker 3: sort of what they've done to other teams over the 239 00:11:45,679 --> 00:11:48,040 Speaker 3: course of the last twenty five years. Especially, you know, 240 00:11:48,200 --> 00:11:50,960 Speaker 3: I mean, I'm watching this, you know, great documentary about 241 00:11:51,040 --> 00:11:54,120 Speaker 3: the Celtics, this great docuseries that Bill Simmons produced. 242 00:11:54,400 --> 00:11:56,760 Speaker 2: It's unbelievable, you know, the history. 243 00:11:56,880 --> 00:11:58,680 Speaker 3: I mean, every time you turn around, there's like this 244 00:11:58,760 --> 00:12:01,560 Speaker 3: other name where you think, even beyond the people that 245 00:12:01,600 --> 00:12:04,880 Speaker 3: we obviously associate with the Celtics. You know, they're more 246 00:12:05,440 --> 00:12:08,560 Speaker 3: who are just so tied to that franchise then, you know, 247 00:12:08,640 --> 00:12:10,960 Speaker 3: than the Patriots, than the Bruins, than the Red Sox. 248 00:12:11,240 --> 00:12:14,000 Speaker 2: Sorry Alex, but like, what is it about the fans? 249 00:12:14,040 --> 00:12:16,880 Speaker 3: What is it about the city that is unique when 250 00:12:16,920 --> 00:12:17,920 Speaker 3: it comes to sports. 251 00:12:18,679 --> 00:12:21,880 Speaker 1: I mean, I love Boston sports fans. I really feel 252 00:12:21,880 --> 00:12:24,760 Speaker 1: like we have the best fans in the country, the 253 00:12:24,800 --> 00:12:28,640 Speaker 1: most passionate. You know, we are we are die hard. 254 00:12:28,679 --> 00:12:30,720 Speaker 1: But what that means is, you know, we are loyal 255 00:12:30,760 --> 00:12:33,120 Speaker 1: I think above all else. So we criticize. I mean, 256 00:12:33,160 --> 00:12:36,760 Speaker 1: we are not always nice. We are not happy when 257 00:12:37,160 --> 00:12:40,000 Speaker 1: the team's not playing well. I mean, you know, but 258 00:12:40,000 --> 00:12:42,240 Speaker 1: but we show up. You know, we show up when 259 00:12:42,240 --> 00:12:44,720 Speaker 1: we're winning, we show up when we're losing, and we 260 00:12:44,760 --> 00:12:46,760 Speaker 1: show up when we're rebuilding. 261 00:12:46,960 --> 00:12:49,800 Speaker 5: You know, it's just you know, for me, you know, 262 00:12:49,840 --> 00:12:50,640 Speaker 5: the joy. 263 00:12:50,400 --> 00:12:53,680 Speaker 1: Of sports is this way that sports can connect communities. 264 00:12:53,720 --> 00:12:55,920 Speaker 1: And that's you know, the athletes on the court, are 265 00:12:55,920 --> 00:12:58,160 Speaker 1: on the field, and it's the fans in the stands. 266 00:12:58,160 --> 00:13:00,000 Speaker 5: You know, you all come from where you come from. 267 00:13:00,160 --> 00:13:03,160 Speaker 1: But you show up and you live and share this 268 00:13:03,280 --> 00:13:05,679 Speaker 1: experience together and then it doesn't really matter so much 269 00:13:05,679 --> 00:13:08,079 Speaker 1: from where you came from. You can just connect and 270 00:13:08,800 --> 00:13:11,640 Speaker 1: you know, I think there's a real appreciation for that 271 00:13:11,840 --> 00:13:15,280 Speaker 1: here in Boston. But there's a real appreciation for winning. 272 00:13:15,520 --> 00:13:16,760 Speaker 1: So pressure's on. 273 00:13:18,200 --> 00:13:22,600 Speaker 4: You are Massachusetts, Boston is basically championship town. I mean, 274 00:13:22,640 --> 00:13:24,520 Speaker 4: you look at the Bruins of Celtics, the Red Sox 275 00:13:24,520 --> 00:13:29,360 Speaker 4: and Patriots. My question, Jennifer is I count around fifty 276 00:13:29,440 --> 00:13:33,280 Speaker 4: five titles somewhere around there, plus or minus. How do 277 00:13:33,320 --> 00:13:37,040 Speaker 4: you cut through that noise now with Boston legacy, Like, 278 00:13:37,120 --> 00:13:38,480 Speaker 4: how do you jump out. 279 00:13:38,320 --> 00:13:39,000 Speaker 2: Of the page. 280 00:13:39,880 --> 00:13:43,520 Speaker 1: So you know, I think our name honors and recognizes 281 00:13:43,559 --> 00:13:46,360 Speaker 1: that legacy that's here in Boston. It's the DNA of 282 00:13:46,440 --> 00:13:49,880 Speaker 1: our club, and we aspire to the standard that other 283 00:13:50,040 --> 00:13:53,480 Speaker 1: Boston teams have set. But we start out, and we've 284 00:13:53,480 --> 00:13:55,560 Speaker 1: talked about some of this already, but we start out 285 00:13:56,000 --> 00:13:58,840 Speaker 1: gathering a lot of information about our fan base. So 286 00:13:59,600 --> 00:14:01,800 Speaker 1: you know, we do have to make our mark, and 287 00:14:01,960 --> 00:14:05,880 Speaker 1: so we do have to have an extremely compelling, exciting 288 00:14:06,000 --> 00:14:09,480 Speaker 1: fan experience. But I think we have the opportunity to capture, 289 00:14:09,960 --> 00:14:13,640 Speaker 1: you know, some fans that haven't necessarily felt included in 290 00:14:13,679 --> 00:14:15,440 Speaker 1: all of our spaces right now in. 291 00:14:15,559 --> 00:14:17,040 Speaker 5: In sports here in Boston. 292 00:14:17,120 --> 00:14:19,760 Speaker 1: So we have the opportunity to get the fans that 293 00:14:19,800 --> 00:14:22,280 Speaker 1: are already going and then some and I really look 294 00:14:22,360 --> 00:14:26,440 Speaker 1: forward to sort of expanding that fan base. But you know, 295 00:14:26,520 --> 00:14:31,040 Speaker 1: Boston fans, they do have a high performance standard and 296 00:14:31,080 --> 00:14:33,000 Speaker 1: we're going to have to meet it from our very 297 00:14:33,040 --> 00:14:38,280 Speaker 1: first kick. Bostonians appreciate great sports, and so we're going 298 00:14:38,360 --> 00:14:41,760 Speaker 1: to have to be relentless competitors in every aspect of 299 00:14:41,800 --> 00:14:44,000 Speaker 1: how we build the club. And I think you know, 300 00:14:44,040 --> 00:14:45,880 Speaker 1: you can see that in our first hire and the 301 00:14:45,920 --> 00:14:49,720 Speaker 1: sporting side of our GM Domeguash from FC Barcelona, one 302 00:14:49,760 --> 00:14:52,600 Speaker 1: of the best women's clubs you know in the world, 303 00:14:53,560 --> 00:14:55,840 Speaker 1: that we are ensuring that we can recruit a highly 304 00:14:55,840 --> 00:15:00,000 Speaker 1: competitive roster. And it's pressure, but we're ready to try 305 00:15:00,120 --> 00:15:04,160 Speaker 1: and meet those expectations and actually maybe turn that pressure 306 00:15:04,200 --> 00:15:07,080 Speaker 1: into really a privilege, right, It's a privilege that we 307 00:15:07,120 --> 00:15:11,040 Speaker 1: can be here in Boston and use the performance of 308 00:15:11,080 --> 00:15:13,240 Speaker 1: our other teams here as an inspiration. 309 00:15:13,840 --> 00:15:16,120 Speaker 2: So, Jennifer, you have a law degree. 310 00:15:16,320 --> 00:15:19,200 Speaker 4: I think that's always a great competitive advantage for someone 311 00:15:19,480 --> 00:15:21,480 Speaker 4: in the position that you're going to embark as controlling 312 00:15:21,600 --> 00:15:25,920 Speaker 4: partner governor. But when it comes to Boston, you also 313 00:15:26,000 --> 00:15:28,200 Speaker 4: have to think about there's a different element, and it's 314 00:15:28,200 --> 00:15:28,920 Speaker 4: harder in Boston. 315 00:15:28,920 --> 00:15:29,760 Speaker 2: It's harder in New York. 316 00:15:29,800 --> 00:15:32,040 Speaker 4: I do believe it's harder in LA in these primary 317 00:15:32,080 --> 00:15:34,760 Speaker 4: markets where the media has such a loud voice and 318 00:15:34,800 --> 00:15:38,040 Speaker 4: such a rabbit fan base. How do you think about 319 00:15:38,280 --> 00:15:43,280 Speaker 4: your role and responsibilities dealing with the media from your position. 320 00:15:42,920 --> 00:15:46,360 Speaker 1: Now, Well, I didn't have a lot of experience, honestly, 321 00:15:46,400 --> 00:15:49,320 Speaker 1: dealing with the media prior to this role. So it's 322 00:15:49,440 --> 00:15:54,760 Speaker 1: new and I'm learning, getting more comfortable appreciating it more. 323 00:15:54,800 --> 00:15:59,240 Speaker 1: When we are launching and announcing the club. In September 324 00:15:59,560 --> 00:16:02,360 Speaker 1: twenty two, twenty three, I had the good fortune to 325 00:16:02,400 --> 00:16:05,040 Speaker 1: sit down with the Boston Globe, you know, a bunch 326 00:16:05,040 --> 00:16:06,680 Speaker 1: of reporters from there, and they asked me, you know, 327 00:16:06,680 --> 00:16:08,480 Speaker 1: we're we want to support women's sports. 328 00:16:08,480 --> 00:16:09,160 Speaker 5: You know what can we do? 329 00:16:09,600 --> 00:16:11,760 Speaker 1: And you know, one of the things I said is, well, 330 00:16:11,800 --> 00:16:13,200 Speaker 1: once we start to play, you're going to have a 331 00:16:13,200 --> 00:16:15,360 Speaker 1: beat reporter at our games, just in the same ways 332 00:16:15,360 --> 00:16:18,040 Speaker 1: that you have one at you know, at the Celtics, 333 00:16:18,040 --> 00:16:19,720 Speaker 1: at the Red Sox, et cetera, et cetera. 334 00:16:19,760 --> 00:16:21,400 Speaker 5: So I think it's building. 335 00:16:21,040 --> 00:16:24,360 Speaker 1: Relationships with the media and you know, making sure that 336 00:16:24,600 --> 00:16:27,040 Speaker 1: they cover the women's teams and the way they cover 337 00:16:27,080 --> 00:16:30,080 Speaker 1: the men's teams. Right, you're seeing such tremendous growth in 338 00:16:30,520 --> 00:16:34,160 Speaker 1: women's sports, and that's partly because of this increase in 339 00:16:34,240 --> 00:16:37,800 Speaker 1: visibility the leagues. In year two of a new media deal, 340 00:16:37,840 --> 00:16:40,120 Speaker 1: we're on four different networks. You know, the value is 341 00:16:40,160 --> 00:16:43,120 Speaker 1: forty x higher. People are starting to actually see the games. 342 00:16:43,200 --> 00:16:46,160 Speaker 1: You know, the product has always been exceptional, but it 343 00:16:46,200 --> 00:16:48,600 Speaker 1: was just hard to find. So I guess it's you know, 344 00:16:48,640 --> 00:16:52,040 Speaker 1: it's our responsibility to make sure that the. 345 00:16:52,040 --> 00:16:54,200 Speaker 5: Media recognizes fans are interested. 346 00:16:54,440 --> 00:16:57,680 Speaker 1: This is world class sports that you're seeing out there, 347 00:16:57,720 --> 00:16:59,760 Speaker 1: and please make sure and cover it. 348 00:16:59,760 --> 00:17:01,920 Speaker 5: And you I don't need to cover it with. 349 00:17:01,360 --> 00:17:04,240 Speaker 1: With kid gloves or like be gentle, you know, cover 350 00:17:04,280 --> 00:17:08,200 Speaker 1: it in the same way, which means critique and promote 351 00:17:08,480 --> 00:17:09,400 Speaker 1: do it all right? 352 00:17:21,720 --> 00:17:24,639 Speaker 3: Well, speaking of critique, there was a lot of criticism 353 00:17:24,720 --> 00:17:27,000 Speaker 3: when you first came out with the original name bost 354 00:17:27,080 --> 00:17:32,960 Speaker 3: Nation and a marketing campaign that many people reacted negatively to. 355 00:17:32,960 --> 00:17:34,440 Speaker 2: To be fair, there were a lot of people who 356 00:17:34,960 --> 00:17:36,080 Speaker 2: liked it. 357 00:17:35,640 --> 00:17:39,359 Speaker 3: As well and loved the cheekiness of saying too many 358 00:17:39,359 --> 00:17:42,359 Speaker 3: balls you ultimately decide to change the name. Take us 359 00:17:42,359 --> 00:17:44,640 Speaker 3: into that process, because that's a deal in its own 360 00:17:44,720 --> 00:17:48,439 Speaker 3: right of making a decision, you know, admitting that, you know, 361 00:17:48,560 --> 00:17:52,520 Speaker 3: maybe you misstep originally, like take us inside those conversations 362 00:17:52,520 --> 00:17:53,480 Speaker 3: with you and your partners. 363 00:17:54,160 --> 00:17:56,520 Speaker 1: So you know, certainly there was a lot of work 364 00:17:56,760 --> 00:18:01,080 Speaker 1: and a lot of excitement before we launched the original name, 365 00:18:01,400 --> 00:18:05,560 Speaker 1: and it was incredibly disappointing because we realized we had 366 00:18:05,600 --> 00:18:08,560 Speaker 1: missed the mark and our biggest error was that in 367 00:18:08,600 --> 00:18:12,840 Speaker 1: our effort to sort of think about the broader Boston ecosystem, 368 00:18:13,440 --> 00:18:16,600 Speaker 1: we had alienated, you know, some of our core fan base. 369 00:18:17,520 --> 00:18:20,200 Speaker 1: That's one of the worst things you could do, right, 370 00:18:20,359 --> 00:18:23,560 Speaker 1: And you know, that process, we had done some testing. 371 00:18:23,200 --> 00:18:24,280 Speaker 5: But we had kept it tighter. 372 00:18:24,359 --> 00:18:28,560 Speaker 1: We were probably overly concerned with confidentiality and trademark issues. 373 00:18:28,600 --> 00:18:32,159 Speaker 1: And so with that hiccup, I will say, well, the 374 00:18:32,200 --> 00:18:34,000 Speaker 1: positive part of that, of course, is that we learned 375 00:18:34,040 --> 00:18:37,040 Speaker 1: how much passion people have for this club. 376 00:18:37,240 --> 00:18:39,320 Speaker 5: Okay, so there was a positive. 377 00:18:39,440 --> 00:18:41,119 Speaker 1: It was a lot of criticism, but there was a 378 00:18:41,119 --> 00:18:44,280 Speaker 1: lot of passion and support. Really, there was support that 379 00:18:44,760 --> 00:18:46,840 Speaker 1: you know, you got to get this right and we're 380 00:18:46,840 --> 00:18:49,200 Speaker 1: going to be there for you. And so we went 381 00:18:49,240 --> 00:18:54,439 Speaker 1: back and we enlarged our testing to encompass you know, 382 00:18:54,480 --> 00:18:57,440 Speaker 1: a much broader base, and you know, we really gathered 383 00:18:57,440 --> 00:19:01,360 Speaker 1: a lot of information about our existing very invested women's 384 00:19:01,480 --> 00:19:04,320 Speaker 1: soccer fan base, the potential fans that will come from 385 00:19:04,359 --> 00:19:07,400 Speaker 1: all over Boston. You know, people knew to women's sports, 386 00:19:07,600 --> 00:19:12,280 Speaker 1: LGBTQ community, Hispanic audiences, and we had all those perspectives 387 00:19:12,640 --> 00:19:15,520 Speaker 1: that we brought together in both you know, with a 388 00:19:15,600 --> 00:19:18,560 Speaker 1: brand advisory group, and we went out and did more 389 00:19:18,640 --> 00:19:21,720 Speaker 1: market research and we tested names and you know, really 390 00:19:21,760 --> 00:19:26,080 Speaker 1: it was the same vision, this vision of championships and 391 00:19:26,440 --> 00:19:30,399 Speaker 1: impact and innovation through soccer through this club in the 392 00:19:30,440 --> 00:19:32,720 Speaker 1: heart of Boston. It was the same vision, but it 393 00:19:32,840 --> 00:19:36,120 Speaker 1: ultimately led to a much better execution and we learned 394 00:19:36,119 --> 00:19:36,520 Speaker 1: a lot. 395 00:19:36,920 --> 00:19:38,520 Speaker 2: Yeah, how did it feel in that moment? 396 00:19:38,520 --> 00:19:40,879 Speaker 3: I mean, were you because as you said, you know, 397 00:19:41,080 --> 00:19:44,880 Speaker 3: you're a person who's been highly successful behind the scenes. 398 00:19:44,960 --> 00:19:48,680 Speaker 3: You're a successful investor, you're a successful entrepreneur. And Alex 399 00:19:48,680 --> 00:19:52,800 Speaker 3: and I were actually talking about this offline that you know, 400 00:19:52,880 --> 00:19:57,320 Speaker 3: being a sports team owner is a different level of scrutiny, 401 00:19:57,359 --> 00:20:00,679 Speaker 3: in a different level of sort of being a public figure. 402 00:20:00,800 --> 00:20:03,520 Speaker 2: So I wonder how you sort of go about adjusting 403 00:20:03,560 --> 00:20:03,800 Speaker 2: to that. 404 00:20:04,359 --> 00:20:07,480 Speaker 1: It's a new experience for me. It is different running 405 00:20:07,480 --> 00:20:10,439 Speaker 1: a sports organization. You know, you said it, there's a 406 00:20:10,560 --> 00:20:15,840 Speaker 1: much higher level of public scrutiny because sports teams at 407 00:20:15,840 --> 00:20:19,160 Speaker 1: their core are community assets, right, so to have people 408 00:20:19,200 --> 00:20:21,879 Speaker 1: criticize it, it means that they're invested in what you 409 00:20:21,920 --> 00:20:24,560 Speaker 1: were doing right And you know, we really truly do 410 00:20:24,600 --> 00:20:27,480 Speaker 1: want to build this club within the fabric of our community, 411 00:20:27,480 --> 00:20:30,520 Speaker 1: but that's hard, and we need to think really hard 412 00:20:30,560 --> 00:20:34,479 Speaker 1: about what makes up our community and be appreciative and 413 00:20:34,520 --> 00:20:37,760 Speaker 1: realize when we make mistakes. So it was incredibly disappointing. 414 00:20:38,280 --> 00:20:41,320 Speaker 1: But you know, you mentioned also that I'm an investor, 415 00:20:41,359 --> 00:20:43,359 Speaker 1: which I am, and one of the things that I 416 00:20:43,359 --> 00:20:46,639 Speaker 1: look for in a founder because you know, I haven't 417 00:20:46,720 --> 00:20:51,520 Speaker 1: done very precede you know, early stage investing, and it's 418 00:20:51,560 --> 00:20:54,320 Speaker 1: hard to really make some of those decisions based on 419 00:20:54,359 --> 00:20:56,120 Speaker 1: a lot of metrics, a lot of data, because it's 420 00:20:56,119 --> 00:20:59,159 Speaker 1: not really there yet. But what I really love to 421 00:20:59,200 --> 00:21:03,080 Speaker 1: see and invest is an investor who's nimble because you're 422 00:21:03,119 --> 00:21:03,359 Speaker 1: going to. 423 00:21:03,400 --> 00:21:05,760 Speaker 5: Face obstacles and you're going to make mistakes. 424 00:21:06,080 --> 00:21:07,960 Speaker 1: And that's what happened to us, and as long as 425 00:21:07,960 --> 00:21:12,200 Speaker 1: you're able to react and pivot, that's when you really learn, 426 00:21:12,359 --> 00:21:15,440 Speaker 1: and that's when you are on the path to greater success. 427 00:21:16,119 --> 00:21:16,280 Speaker 5: You know. 428 00:21:16,320 --> 00:21:17,400 Speaker 2: It's interesting, Jennifer. 429 00:21:17,480 --> 00:21:19,159 Speaker 3: You know I got a chance to meet to you 430 00:21:19,560 --> 00:21:22,479 Speaker 3: when you guys are first launching this and alongside your 431 00:21:22,800 --> 00:21:27,160 Speaker 3: partner Stephanie Conneton, Amy Danoff and Anna Palmer. It's such 432 00:21:27,160 --> 00:21:29,399 Speaker 3: a fascinating group of people who sort of came together 433 00:21:29,480 --> 00:21:32,960 Speaker 3: from different parts of the business and investing world. I 434 00:21:33,000 --> 00:21:34,520 Speaker 3: want you to talk a little bit about them and 435 00:21:34,560 --> 00:21:36,920 Speaker 3: sort of how you guys came together, and then I 436 00:21:36,960 --> 00:21:39,120 Speaker 3: would love to talk a little bit about even what's 437 00:21:39,200 --> 00:21:41,880 Speaker 3: happened in those intervening couple of years when it comes 438 00:21:41,920 --> 00:21:44,840 Speaker 3: to the business of soccer. But tell us a little 439 00:21:44,840 --> 00:21:46,560 Speaker 3: bit about how the four of you came together. 440 00:21:47,080 --> 00:21:50,960 Speaker 1: I'm glad you mentioned my co founders because this is 441 00:21:50,960 --> 00:21:54,399 Speaker 1: a collective vision. It's certainly not a vision of just 442 00:21:54,560 --> 00:21:57,000 Speaker 1: my own, and I would not be here speaking to 443 00:21:57,000 --> 00:22:00,000 Speaker 1: you without the support of all of my partners behind 444 00:22:00,040 --> 00:22:03,280 Speaker 1: I mean, but particularly my three co founders. We didn't 445 00:22:03,320 --> 00:22:06,000 Speaker 1: all know each other really well before we came together 446 00:22:06,400 --> 00:22:11,040 Speaker 1: for this project, but we were all investing. We had 447 00:22:11,119 --> 00:22:18,240 Speaker 1: a connection around investing in female founders and diverse founding teams, 448 00:22:18,280 --> 00:22:24,040 Speaker 1: sort of recognizing that, you know, a plurality of voices 449 00:22:24,080 --> 00:22:27,560 Speaker 1: around the table is really what leads to long term ROI. 450 00:22:27,680 --> 00:22:29,080 Speaker 5: You know, it's not just the right. 451 00:22:29,000 --> 00:22:32,280 Speaker 1: Way to do business, it leads to better business. And 452 00:22:32,960 --> 00:22:34,879 Speaker 1: you know, we were all sports fans. My partner and 453 00:22:35,080 --> 00:22:38,720 Speaker 1: I was a diehard soccer fan. She's a venture capitalist, 454 00:22:38,720 --> 00:22:42,720 Speaker 1: but she's from the supporter culture. And my partner, Amy, 455 00:22:42,760 --> 00:22:45,959 Speaker 1: who runs the Women's Foundation of Boston, has been you know, 456 00:22:46,000 --> 00:22:48,800 Speaker 1: thinking about women and girls in the city of Boston 457 00:22:49,119 --> 00:22:52,320 Speaker 1: and how to you know, how ventures can really impact 458 00:22:52,359 --> 00:22:56,159 Speaker 1: and promote growth there. And my partner Stephanie is a marketer, 459 00:22:56,359 --> 00:22:59,200 Speaker 1: so she was at Gillette, one of the real brains 460 00:22:59,240 --> 00:23:01,680 Speaker 1: behind the venus or so it was thinking about how 461 00:23:01,680 --> 00:23:04,160 Speaker 1: you can take a product and market you know, it's 462 00:23:04,200 --> 00:23:07,360 Speaker 1: really pretty much the same product, right, but to a 463 00:23:07,400 --> 00:23:12,919 Speaker 1: corror demographic. So we all brought experience in different relevant sectors. 464 00:23:13,040 --> 00:23:15,359 Speaker 1: We see this as not just an opportunity to have 465 00:23:15,440 --> 00:23:18,440 Speaker 1: generational impact in the city of Boston, but we see 466 00:23:18,440 --> 00:23:19,520 Speaker 1: this as a good investment. 467 00:23:19,840 --> 00:23:22,440 Speaker 5: You know, we're pursuing this for both reasons. 468 00:23:22,720 --> 00:23:26,240 Speaker 1: I think we all learned of the opportunity and barely 469 00:23:26,280 --> 00:23:28,840 Speaker 1: skipped to Pete before we just jumped in, you know, 470 00:23:29,000 --> 00:23:33,719 Speaker 1: recognizing this was this was the moment to enter women's sports. 471 00:23:33,920 --> 00:23:36,160 Speaker 3: I mean, Jennifer, one of the most interesting things when 472 00:23:36,200 --> 00:23:40,160 Speaker 3: you think about your founding team as investors is how 473 00:23:40,200 --> 00:23:43,480 Speaker 3: good an investment this already is when you look at 474 00:23:43,720 --> 00:23:47,520 Speaker 3: where valuations have gone. So walk us through where soccer was, 475 00:23:47,560 --> 00:23:50,000 Speaker 3: where women's soccer was, where it was when you came in, 476 00:23:50,400 --> 00:23:51,480 Speaker 3: and now where it is today. 477 00:23:51,880 --> 00:23:56,480 Speaker 1: You know, when we were pitching this to our partners 478 00:23:56,520 --> 00:23:59,480 Speaker 1: into the league, it was twenty twenty two, so the 479 00:23:59,560 --> 00:24:02,760 Speaker 1: league was looking ahead towards their next media deal, which 480 00:24:03,160 --> 00:24:05,760 Speaker 1: you know now is forty x higher and you know, 481 00:24:06,160 --> 00:24:07,879 Speaker 1: on four different networks. But there was a lot of 482 00:24:07,880 --> 00:24:12,000 Speaker 1: optimism around that. Angel City and San Diego Wave had 483 00:24:12,080 --> 00:24:16,200 Speaker 1: just begun play. San Diego Wave brought in thirty two 484 00:24:16,320 --> 00:24:19,159 Speaker 1: thousand people to their home opener, and Angel City was 485 00:24:19,160 --> 00:24:22,959 Speaker 1: consistently selling out Bemost Stadium at nineteen thousand fans, and 486 00:24:23,359 --> 00:24:25,879 Speaker 1: CPKC had just announced they were going to build the 487 00:24:25,920 --> 00:24:29,399 Speaker 1: first purpose built stadium for a pro women's team in 488 00:24:29,440 --> 00:24:31,680 Speaker 1: the world. So you know what you were seeing is 489 00:24:31,760 --> 00:24:35,359 Speaker 1: that fans were showing up, and there was optimism around 490 00:24:35,480 --> 00:24:40,360 Speaker 1: potential for new media deal to broad invisibility, and owners 491 00:24:40,359 --> 00:24:43,880 Speaker 1: were investing in their clubs. These metrics were giving them 492 00:24:43,880 --> 00:24:46,119 Speaker 1: confidence to do so, and when we jumped in, it 493 00:24:46,240 --> 00:24:48,920 Speaker 1: was I mean, what a time to jump in. Expansion 494 00:24:48,960 --> 00:24:52,480 Speaker 1: fees prior to us were two to five million dollars. 495 00:24:53,040 --> 00:24:55,440 Speaker 1: We got in at the same time as the Bay 496 00:24:55,480 --> 00:24:59,200 Speaker 1: We paid fifty three and now Denver has just entered 497 00:24:59,200 --> 00:25:01,199 Speaker 1: the league and they paid one hundred and ten. So 498 00:25:01,960 --> 00:25:05,080 Speaker 1: I think we were correct in assessing the opportunity. 499 00:25:05,119 --> 00:25:06,359 Speaker 5: I mean, it's a long game. 500 00:25:06,760 --> 00:25:09,280 Speaker 1: We're in it for the long game, but it's an 501 00:25:09,320 --> 00:25:10,960 Speaker 1: upward trajectory on the rise. 502 00:25:11,440 --> 00:25:12,040 Speaker 5: We're excited. 503 00:25:12,359 --> 00:25:15,640 Speaker 4: So, Jennifer, that is tremendous growth in a very short 504 00:25:15,640 --> 00:25:17,640 Speaker 4: period of time, within five years, to go from two 505 00:25:17,680 --> 00:25:20,359 Speaker 4: to five to fifty three to now Denver. 506 00:25:20,200 --> 00:25:20,680 Speaker 2: One to ten. 507 00:25:21,680 --> 00:25:25,080 Speaker 4: I'm just curious because when you talk to some of 508 00:25:25,119 --> 00:25:28,960 Speaker 4: your limited partners and you say the number is going 509 00:25:29,000 --> 00:25:31,159 Speaker 4: to be fifty three, I'm sure there's a few that go, oh, 510 00:25:31,160 --> 00:25:34,280 Speaker 4: that's so expensive, Jennifer, is not two to five a 511 00:25:34,320 --> 00:25:37,760 Speaker 4: win a bubble? And then my question is that that happened, 512 00:25:37,800 --> 00:25:40,840 Speaker 4: and the follow up is when Denver happens at one ten, 513 00:25:41,119 --> 00:25:42,520 Speaker 4: do you pick up the phone and say, I told 514 00:25:42,520 --> 00:25:44,560 Speaker 4: you we bought a good price. How does that go? 515 00:25:44,760 --> 00:25:47,199 Speaker 4: It certainly has to make you feel good. That is 516 00:25:47,240 --> 00:25:49,160 Speaker 4: two x in less than two years. 517 00:25:49,440 --> 00:25:52,000 Speaker 1: It feels good, But it's really premature to take a 518 00:25:52,040 --> 00:25:52,640 Speaker 1: victory lap. 519 00:25:52,680 --> 00:25:56,280 Speaker 5: I think, you know, it certainly was what we hope 520 00:25:56,320 --> 00:25:56,800 Speaker 5: to see. 521 00:25:57,119 --> 00:25:59,399 Speaker 1: But you know, we got a lot to do before 522 00:25:59,440 --> 00:26:01,919 Speaker 1: we get out for our first game. So you know, 523 00:26:02,480 --> 00:26:06,160 Speaker 1: we have to finish the rejuvenation of White Stadium. We're 524 00:26:06,160 --> 00:26:10,159 Speaker 1: building a elite performance facility for our club with the 525 00:26:10,200 --> 00:26:12,760 Speaker 1: hope that in a second phase it'll grow to be 526 00:26:12,800 --> 00:26:15,960 Speaker 1: a sports hub for youth sports. We got to build 527 00:26:16,000 --> 00:26:18,320 Speaker 1: a roster. We have a lot to do. We got 528 00:26:18,359 --> 00:26:21,080 Speaker 1: to finish rounding out the brand. We're launching our Crests 529 00:26:21,160 --> 00:26:24,480 Speaker 1: in early summer. So it's too early for a victory lap, 530 00:26:24,520 --> 00:26:28,520 Speaker 1: but we were certainly excited to see that growth in 531 00:26:28,640 --> 00:26:31,040 Speaker 1: that short of a period of time, and we expected 532 00:26:31,080 --> 00:26:33,200 Speaker 1: to continue as the league continues to expand. 533 00:26:33,960 --> 00:26:35,880 Speaker 4: Yeah, I think that's a little bit of an untold 534 00:26:36,160 --> 00:26:39,200 Speaker 4: tale on you know, once you get the keys handed 535 00:26:39,240 --> 00:26:41,639 Speaker 4: to you, how much work there is under that hood 536 00:26:41,720 --> 00:26:44,520 Speaker 4: and its three sixty five twenty four seven, and the 537 00:26:44,560 --> 00:26:46,160 Speaker 4: busiest time is probably your off season. 538 00:26:46,200 --> 00:26:47,120 Speaker 2: I'm sure you've seen that. 539 00:26:47,160 --> 00:26:49,760 Speaker 4: But when you say there's a lot of work to do, 540 00:26:50,200 --> 00:26:52,240 Speaker 4: what are maybe one or two things you can share 541 00:26:52,280 --> 00:26:53,560 Speaker 4: with us that keep you up at night. 542 00:26:55,200 --> 00:26:58,480 Speaker 1: I don't sleep really well these days. There's there's a 543 00:26:58,520 --> 00:27:02,120 Speaker 1: lot that keeps me up at night that makes me excited. Yeah, 544 00:27:02,240 --> 00:27:05,000 Speaker 1: I am really excited, But there is you know, there's 545 00:27:05,280 --> 00:27:08,600 Speaker 1: stressing the amount that we have to accomplish to do 546 00:27:08,640 --> 00:27:11,040 Speaker 1: this really well and have a really successful launch. And 547 00:27:11,080 --> 00:27:13,800 Speaker 1: I believe we have you know, all the reasons that 548 00:27:13,840 --> 00:27:16,600 Speaker 1: we can do that, and you know, all the ingredients 549 00:27:16,600 --> 00:27:20,000 Speaker 1: are there, but we still have some key senior hires 550 00:27:20,600 --> 00:27:24,240 Speaker 1: to make We have some phenomenal people. We've recently, in 551 00:27:24,280 --> 00:27:27,040 Speaker 1: the past couple of months, hired our Chief revenue Officer, 552 00:27:27,040 --> 00:27:30,639 Speaker 1: Amina Bowman. She came from the Commanders, it was in 553 00:27:30,680 --> 00:27:35,480 Speaker 1: the NFL, and she's recently hired our VP of Ticketing, 554 00:27:35,480 --> 00:27:38,760 Speaker 1: who also comes from the NFL. My chief of staff, 555 00:27:39,160 --> 00:27:41,840 Speaker 1: my chief legal counselor. She's been with me since virtually 556 00:27:41,960 --> 00:27:46,960 Speaker 1: day one. Kim Minor, she came from Baseball, actually worked 557 00:27:46,960 --> 00:27:49,400 Speaker 1: for the Red Sox and then helped launch the Woo 558 00:27:49,520 --> 00:27:51,399 Speaker 1: Socks and build Polar Park in Worcester. 559 00:27:51,920 --> 00:27:54,000 Speaker 5: We've just hired ahead of people. We've just hired a 560 00:27:54,040 --> 00:27:54,920 Speaker 5: creative director. 561 00:27:55,240 --> 00:27:57,800 Speaker 1: You know, every day there's a new hire because you know, 562 00:27:57,880 --> 00:28:02,439 Speaker 1: we're going to require exceptional talent to launch this club 563 00:28:02,760 --> 00:28:04,520 Speaker 1: in the way that we want to do that. And then, 564 00:28:04,560 --> 00:28:06,199 Speaker 1: of course it'll be the really exciting part when we 565 00:28:06,240 --> 00:28:09,680 Speaker 1: actually get to announce players and they're interviewing final rounds 566 00:28:09,680 --> 00:28:11,960 Speaker 1: for head coach and have a lot of interest with 567 00:28:12,000 --> 00:28:14,760 Speaker 1: respect to players, and I expect some announcements there really 568 00:28:14,800 --> 00:28:15,480 Speaker 1: soon as well. 569 00:28:15,520 --> 00:28:17,760 Speaker 5: So these are the things that keep me up at night. 570 00:28:17,880 --> 00:28:18,520 Speaker 5: But these are the. 571 00:28:18,480 --> 00:28:22,280 Speaker 1: Things that are you know, all really exciting, and just 572 00:28:22,320 --> 00:28:23,520 Speaker 1: the to do list is long. 573 00:28:36,359 --> 00:28:38,920 Speaker 3: One thing that I did want to ask you, Jennifer 574 00:28:39,280 --> 00:28:41,280 Speaker 3: before we got to that is, you know, we've had 575 00:28:41,360 --> 00:28:43,840 Speaker 3: Jessica Berman, the and WSL commissioner on this show. 576 00:28:43,920 --> 00:28:46,400 Speaker 2: Just recently. Brandy Chastain has been on the show. 577 00:28:46,440 --> 00:28:49,960 Speaker 3: We've got an upcoming episode with Melody Hobson. Jess Gelman 578 00:28:50,080 --> 00:28:52,400 Speaker 3: has been on this program. Carolyn Tish Blodgett was also 579 00:28:52,440 --> 00:28:54,720 Speaker 3: in the show. So We've talked to a lot of 580 00:28:54,720 --> 00:28:58,440 Speaker 3: folks who've been involved in this sport. One of the 581 00:28:58,480 --> 00:29:02,200 Speaker 3: things that strikes me is is, you know, without guessing 582 00:29:02,240 --> 00:29:05,840 Speaker 3: everybody up too much, it's really interesting to see the 583 00:29:06,040 --> 00:29:11,200 Speaker 3: level of expertise and the level candidly of intensity that's 584 00:29:11,240 --> 00:29:13,160 Speaker 3: happening on this board of governors. 585 00:29:13,200 --> 00:29:15,960 Speaker 2: So what is that board like and how would you 586 00:29:16,040 --> 00:29:16,600 Speaker 2: characterize it? 587 00:29:16,640 --> 00:29:19,600 Speaker 3: Again as someone who you know, you've been on investment committees, 588 00:29:19,640 --> 00:29:21,720 Speaker 3: you've been an investor, You've been involved in you know, 589 00:29:21,760 --> 00:29:25,320 Speaker 3: philanthropic work and entrepreneurial work, Like, what's the tone right 590 00:29:25,360 --> 00:29:26,640 Speaker 3: now among the governors? 591 00:29:27,000 --> 00:29:29,200 Speaker 5: You know, there are a lot of new owners. 592 00:29:29,320 --> 00:29:33,560 Speaker 1: There's a lot of savvy investors who've recognized that the NWSL, 593 00:29:34,720 --> 00:29:39,240 Speaker 1: should we be strategic, you know, has every ability to 594 00:29:39,280 --> 00:29:41,080 Speaker 1: be the best league in the world in the sport. 595 00:29:41,560 --> 00:29:45,240 Speaker 1: We have owners that have come from Major League Baseball, 596 00:29:45,400 --> 00:29:49,440 Speaker 1: from the NFL, will Obey and Bob Iger from Disney 597 00:29:49,520 --> 00:29:52,840 Speaker 1: just you know, in the past year or so acquired 598 00:29:52,880 --> 00:29:55,560 Speaker 1: the controller stake in Angel City. We have the Bethal 599 00:29:55,720 --> 00:29:58,800 Speaker 1: family who comes, you know, also from the NBA and 600 00:29:59,160 --> 00:30:02,080 Speaker 1: not only purchase the Thorns, but recently expanded into the 601 00:30:02,200 --> 00:30:04,520 Speaker 1: WNBA as well. So we have a lot of investors 602 00:30:04,960 --> 00:30:10,960 Speaker 1: that recognize the potential for growth in the NWSL specifically, 603 00:30:11,480 --> 00:30:13,440 Speaker 1: And I mean, this is what it's exciting to be 604 00:30:13,480 --> 00:30:17,840 Speaker 1: on that board right now, because we are building the 605 00:30:17,880 --> 00:30:21,280 Speaker 1: plane as we fly it in many respects, and it 606 00:30:21,320 --> 00:30:25,080 Speaker 1: is still a relatively young league. We have a strong 607 00:30:25,080 --> 00:30:29,760 Speaker 1: commissioner in Jessica Berman, but it's going to require, you know, 608 00:30:29,800 --> 00:30:33,440 Speaker 1: the right decisions to retain and attract the world's best 609 00:30:33,480 --> 00:30:38,000 Speaker 1: players here in our country and to keep having the 610 00:30:38,000 --> 00:30:40,160 Speaker 1: fans show up. I mean, there are some stadiums that 611 00:30:40,240 --> 00:30:42,880 Speaker 1: are selling out and there's some stadiums that aren't doing 612 00:30:42,880 --> 00:30:45,880 Speaker 1: as well. So, you know, how do we make sure 613 00:30:45,880 --> 00:30:48,960 Speaker 1: that fans understand the exceptional product that is out in 614 00:30:48,960 --> 00:30:51,800 Speaker 1: the field. How do we market the brand, how do 615 00:30:51,840 --> 00:30:56,480 Speaker 1: we you know, get the media properties to continue to 616 00:30:56,480 --> 00:31:00,000 Speaker 1: be alongside us and in the next two years, actually 617 00:31:00,120 --> 00:31:03,040 Speaker 1: grow that media deal to take us to the next chapter. 618 00:31:03,160 --> 00:31:04,800 Speaker 1: I mean, it's one of the you know, exciting things 619 00:31:04,800 --> 00:31:06,560 Speaker 1: I think about Boston joining the league. You know, we 620 00:31:06,600 --> 00:31:09,840 Speaker 1: are also a top ten media market. We're a city 621 00:31:09,880 --> 00:31:12,600 Speaker 1: of champions, and you know, I like to say there's 622 00:31:12,640 --> 00:31:15,800 Speaker 1: no league complete without Boston, and I think, and I 623 00:31:15,840 --> 00:31:19,120 Speaker 1: hope that's what they recognize when they decided to believe 624 00:31:19,120 --> 00:31:19,680 Speaker 1: in our vision. 625 00:31:20,400 --> 00:31:22,280 Speaker 2: I do think to editorialize. 626 00:31:22,280 --> 00:31:25,200 Speaker 3: I mean, this is one of the most interesting spaces 627 00:31:25,200 --> 00:31:27,680 Speaker 3: in sports right now because of all the things we've 628 00:31:27,720 --> 00:31:30,920 Speaker 3: been talking about, all the new entrants, all the investment. 629 00:31:31,080 --> 00:31:34,040 Speaker 3: The growth rate that we're seeing, I think is really 630 00:31:34,080 --> 00:31:50,480 Speaker 3: interesting general. So let's go to the lightning round really quick. 631 00:31:50,800 --> 00:31:51,640 Speaker 3: I'm going to start. 632 00:31:51,960 --> 00:31:54,000 Speaker 5: You know, I don't know if I'm good at a 633 00:31:54,080 --> 00:31:54,720 Speaker 5: lightning round. 634 00:31:55,200 --> 00:31:57,400 Speaker 2: You're gonna do great, You're gonna do great. All right, 635 00:31:57,680 --> 00:31:58,200 Speaker 2: here we go. 636 00:31:58,360 --> 00:32:01,040 Speaker 3: What's the best piece of advice you been given on 637 00:32:01,160 --> 00:32:02,560 Speaker 3: deal making your business? 638 00:32:03,200 --> 00:32:05,480 Speaker 5: Don't be afraid to go after opportunity. 639 00:32:06,400 --> 00:32:09,040 Speaker 2: Who's your dream deal making partner? 640 00:32:09,560 --> 00:32:12,240 Speaker 1: I mean, how can I not say my three co founders, 641 00:32:12,280 --> 00:32:15,200 Speaker 1: Amy Kwan, dan Off, Stephanie Connatton, and Anna Palmer. 642 00:32:15,520 --> 00:32:17,560 Speaker 2: All right, what's the most nervous you've ever been? 643 00:32:20,480 --> 00:32:20,680 Speaker 4: Now? 644 00:32:20,840 --> 00:32:21,320 Speaker 5: Going there? 645 00:32:22,080 --> 00:32:24,680 Speaker 1: I'm right, I mean, now when I'm in a lightning 646 00:32:24,760 --> 00:32:29,360 Speaker 1: rod with Jason and Alex Rodriguez, and I don't have 647 00:32:29,440 --> 00:32:31,719 Speaker 1: the right answer to the question. No, I'd probably say, 648 00:32:32,240 --> 00:32:34,280 Speaker 1: you know, when we traveled to New York and we 649 00:32:34,760 --> 00:32:37,760 Speaker 1: went in front of of the League and the expansion 650 00:32:37,760 --> 00:32:39,960 Speaker 1: committee to show them what. 651 00:32:39,960 --> 00:32:44,000 Speaker 5: Our vision was in Boston and pitch our bid. 652 00:32:45,880 --> 00:32:48,840 Speaker 4: What's your hype song before a big meeting or negotiation? 653 00:32:50,000 --> 00:32:51,640 Speaker 5: Beyonce, who Run the World? 654 00:32:53,160 --> 00:32:54,360 Speaker 2: I love it all right? 655 00:32:54,400 --> 00:32:56,640 Speaker 3: What's your advice for someone listening who what's a career 656 00:32:56,720 --> 00:32:57,200 Speaker 3: like yours? 657 00:32:58,120 --> 00:33:01,320 Speaker 1: Recognize that it's often a long game, and that there 658 00:33:01,320 --> 00:33:04,600 Speaker 1: are different chapters to a career, and they all lead 659 00:33:04,680 --> 00:33:07,640 Speaker 1: to something, and each chapter may not be as fulfilling 660 00:33:07,680 --> 00:33:10,880 Speaker 1: as the one that comes after it. But if you 661 00:33:11,160 --> 00:33:14,960 Speaker 1: work really hard and you recognize and take advantage of 662 00:33:15,000 --> 00:33:18,480 Speaker 1: every opportunity that comes your way, you know you're gonna 663 00:33:18,520 --> 00:33:19,800 Speaker 1: achieve what you want to achieve. 664 00:33:19,800 --> 00:33:21,600 Speaker 5: I mean, honestly, I actually. 665 00:33:21,440 --> 00:33:22,600 Speaker 1: If you had asked me when I was in my 666 00:33:22,640 --> 00:33:24,600 Speaker 1: twenties if I was going to be where I am 667 00:33:24,960 --> 00:33:27,840 Speaker 1: right now, I would never have been able to tell 668 00:33:27,840 --> 00:33:29,960 Speaker 1: you that. I have had different chapters of my career. 669 00:33:30,000 --> 00:33:33,800 Speaker 1: I was a lawyer, I launched a hospitality business and 670 00:33:33,840 --> 00:33:37,120 Speaker 1: open restaurants in the Boston area. I'm an investor, and 671 00:33:37,160 --> 00:33:39,640 Speaker 1: now I'm doing something that I think I have never 672 00:33:39,680 --> 00:33:43,480 Speaker 1: been more passionate about. So stay the course. They'll get there. 673 00:33:45,360 --> 00:33:47,760 Speaker 2: All right, Well, that was great. Thank you so much, 674 00:33:48,040 --> 00:33:48,920 Speaker 2: Jennifer Epstein. 675 00:33:49,200 --> 00:33:52,200 Speaker 3: She is the controlling manager of the Boston Legacy Football 676 00:33:52,240 --> 00:33:56,440 Speaker 3: Club and WSL team taking the pitch next season. A 677 00:33:56,480 --> 00:33:58,640 Speaker 3: lot of work to do, as she said, doing now 678 00:33:58,640 --> 00:33:59,960 Speaker 3: and then. Really fun to spend some time with you. 679 00:34:00,160 --> 00:34:01,800 Speaker 3: Thank you so much, Thank you, Jennifer, Thank you. 680 00:34:01,840 --> 00:34:04,200 Speaker 1: So much for having me. It was lots of fun. 681 00:34:04,240 --> 00:34:05,040 Speaker 1: Thank you very much. 682 00:34:05,400 --> 00:34:05,920 Speaker 2: Good luck. 683 00:34:14,640 --> 00:34:17,360 Speaker 3: The Deal is hosted by Alex Rodriguez and me Jason Kelly. 684 00:34:17,840 --> 00:34:22,000 Speaker 3: This episode was made by Anamazarakus, Stacey Wong, and Lizzie Phillip. 685 00:34:22,480 --> 00:34:25,239 Speaker 3: Amy Keen is our editor and Will Connelly is our 686 00:34:25,320 --> 00:34:28,480 Speaker 3: video editor. Our theme music is made by Blake Maples. 687 00:34:28,880 --> 00:34:32,600 Speaker 3: Our executive producers are Kelly Leferrier, Ashley Hoenig, and Brendan 688 00:34:32,680 --> 00:34:36,640 Speaker 3: neonham Sage Bauman is the head of Bloomberg Podcast. Additional 689 00:34:36,680 --> 00:34:40,319 Speaker 3: support from Rachel Carnivale and Elena Los Angeles. Thanks so 690 00:34:40,400 --> 00:34:42,920 Speaker 3: much for listening to the Deal. If you have a minute, subscribe, 691 00:34:42,960 --> 00:34:45,960 Speaker 3: rate and review our show. It'll help other listeners find us. 692 00:34:46,200 --> 00:34:47,080 Speaker 3: I'm Jason Kelly. 693 00:34:47,239 --> 00:34:48,080 Speaker 2: See you next week.