1 00:00:00,840 --> 00:00:03,240 Speaker 1: This is the Bloomberg Business of Sports show, where we 2 00:00:03,279 --> 00:00:05,320 Speaker 1: explore the big money issues in the world of sports. 3 00:00:05,480 --> 00:00:09,080 Speaker 1: I'm Scarlett Book and I'm being Contessa. Michael Barr is off. 4 00:00:09,119 --> 00:00:11,200 Speaker 1: But on the show today, we're going to talk about 5 00:00:11,200 --> 00:00:13,520 Speaker 1: a firm that has a bit of a new profile. 6 00:00:13,600 --> 00:00:17,320 Speaker 1: It wants to help NFL pros find opportunities beyond football 7 00:00:17,640 --> 00:00:21,720 Speaker 1: and into ventury capital. It's not just the talent management company. 8 00:00:21,800 --> 00:00:24,119 Speaker 1: It is Athletes First, and it is the subject of 9 00:00:24,120 --> 00:00:28,280 Speaker 1: a Bloomberg Business Week piece penned by Bloomberg's Ara Budway. Ara, 10 00:00:28,560 --> 00:00:30,520 Speaker 1: great to have you with us. Thank you, So tell 11 00:00:30,600 --> 00:00:32,519 Speaker 1: us a little bit about what is going on with 12 00:00:32,640 --> 00:00:36,159 Speaker 1: Athletes First. It's been around for a while, but there 13 00:00:36,200 --> 00:00:39,000 Speaker 1: are some new investors, that's right. So this is one 14 00:00:39,040 --> 00:00:42,000 Speaker 1: of the big shops in the NFL. They only do NFL. 15 00:00:42,640 --> 00:00:45,040 Speaker 1: They have you know, they're up there with Octagon and CIA. 16 00:00:45,240 --> 00:00:47,720 Speaker 1: They were founded in two thousand and one by Brian 17 00:00:47,800 --> 00:00:51,400 Speaker 1: Murphy David Dunn, who broke off from Jerry McGuire himself, 18 00:00:51,479 --> 00:00:58,400 Speaker 1: Lee Steinberg Afremonious, like all agents, splits, yes, and they 19 00:00:58,440 --> 00:01:02,720 Speaker 1: now are selling majority stake in the company to a 20 00:01:02,800 --> 00:01:06,880 Speaker 1: pair of VC firms Mastery Ventures and General Catalysts, and 21 00:01:07,480 --> 00:01:10,800 Speaker 1: Mastery Ventures founder Rudy Klein Thomas will become the new 22 00:01:10,880 --> 00:01:14,160 Speaker 1: chair of Athletes First. So you know, I take me 23 00:01:14,200 --> 00:01:15,759 Speaker 1: back here, I mean because this is this is an 24 00:01:15,800 --> 00:01:17,880 Speaker 1: interesting one to me only because if you look back 25 00:01:17,880 --> 00:01:21,840 Speaker 1: to twenty fifteen Japanese advertising giant Dense, you purchase one 26 00:01:21,880 --> 00:01:24,319 Speaker 1: third of athletes First, if I'm not mistaken, an evaluation 27 00:01:24,319 --> 00:01:27,080 Speaker 1: of just fifty million dollars. Again, that was in twenty fifteen. 28 00:01:27,080 --> 00:01:29,520 Speaker 1: For our audience, that was some seven eight years ago. 29 00:01:29,640 --> 00:01:32,160 Speaker 1: Now this is the number one agency covering most of 30 00:01:32,200 --> 00:01:34,040 Speaker 1: the I mean, they did the Deshaun Watson deal, right, 31 00:01:34,080 --> 00:01:36,800 Speaker 1: that's right, the beast. So my point is, what do 32 00:01:36,800 --> 00:01:38,560 Speaker 1: you think this? I mean, we don't have an information, 33 00:01:38,600 --> 00:01:40,760 Speaker 1: but do we have any sense on what the valuation 34 00:01:40,800 --> 00:01:45,240 Speaker 1: this company is? What I was told on background was 35 00:01:45,959 --> 00:01:50,760 Speaker 1: that it's significantly more than that fifteen millions. I would 36 00:01:50,800 --> 00:01:53,280 Speaker 1: imagine that. Yeah, I don't know. And you know, in 37 00:01:53,320 --> 00:01:56,160 Speaker 1: this time majority share. So typically when you get control, 38 00:01:56,200 --> 00:01:58,560 Speaker 1: you pay a premium for that as well. Now what's 39 00:01:58,560 --> 00:02:00,400 Speaker 1: interesting though, I mean think about it, right, I mean, 40 00:02:00,440 --> 00:02:02,840 Speaker 1: these are agents, right, and as you rightly point out, 41 00:02:02,920 --> 00:02:05,200 Speaker 1: David Dunne himself, you know, he left Lee Stenberg. You know, 42 00:02:05,240 --> 00:02:07,560 Speaker 1: you're only as good as your relationships in this business, 43 00:02:07,600 --> 00:02:11,080 Speaker 1: so you know, very difficult to do a bottom of valuation, 44 00:02:11,200 --> 00:02:13,840 Speaker 1: you know, with any sort of you know, yeah, you 45 00:02:13,919 --> 00:02:15,840 Speaker 1: see what I'm saying. Like, So I just find it's 46 00:02:15,840 --> 00:02:18,040 Speaker 1: so fascinating that you know, this deal was first of all, 47 00:02:18,080 --> 00:02:19,800 Speaker 1: even able to get done. I mean, I guess there's 48 00:02:19,919 --> 00:02:22,000 Speaker 1: you know, a need for the working capital, but what 49 00:02:22,040 --> 00:02:24,519 Speaker 1: do you think the motivating point behind it was. It's 50 00:02:24,560 --> 00:02:27,080 Speaker 1: really interesting to me because you don't see venture capital 51 00:02:27,120 --> 00:02:30,959 Speaker 1: firms typically getting into the sports management, right. Venture capital 52 00:02:31,000 --> 00:02:34,200 Speaker 1: firms target startups, right, at least first is not a 53 00:02:34,240 --> 00:02:37,160 Speaker 1: startup now, right, And the returns in this business are 54 00:02:37,200 --> 00:02:39,799 Speaker 1: typically pretty limited. You know, you can only take three 55 00:02:39,840 --> 00:02:43,600 Speaker 1: percent of the players contracts by rule. People can leave 56 00:02:43,639 --> 00:02:46,480 Speaker 1: anytime they want, agents can bolt. I mean, this shop 57 00:02:46,720 --> 00:02:49,080 Speaker 1: is one of the big boys, and they don't have 58 00:02:49,120 --> 00:02:51,600 Speaker 1: too many people leave. They they're doing the poaching, not 59 00:02:51,680 --> 00:02:54,720 Speaker 1: getting coach. Daniel Jones just came over. They've got Aaron Rodgers, 60 00:02:54,720 --> 00:02:58,440 Speaker 1: they've got Dak Prescott. They have volume, so as agencies go, 61 00:02:58,639 --> 00:03:01,760 Speaker 1: they're able to do things others can't like group deals, 62 00:03:02,320 --> 00:03:05,679 Speaker 1: marketing arms, all kinds of stuff that helps, But it 63 00:03:05,840 --> 00:03:07,840 Speaker 1: still doesn't look like the kind of business to me 64 00:03:08,000 --> 00:03:09,840 Speaker 1: that a VC firm would get into. So when I 65 00:03:09,919 --> 00:03:12,200 Speaker 1: asked Rudy Clin Thomas, who's now going to be the 66 00:03:12,280 --> 00:03:15,360 Speaker 1: chair of Mastery Ventures, the master Ventures, he said that 67 00:03:15,520 --> 00:03:20,079 Speaker 1: basically they think these players are sort of undervalued assets, 68 00:03:20,120 --> 00:03:22,320 Speaker 1: that they're like startups, and that they have more value 69 00:03:22,320 --> 00:03:24,560 Speaker 1: than their realize. There are a few entrepreneurs, right, and 70 00:03:24,600 --> 00:03:27,320 Speaker 1: that they want to take them and make them owners 71 00:03:27,360 --> 00:03:29,920 Speaker 1: in whatever things they want to do outside of football. 72 00:03:30,040 --> 00:03:31,960 Speaker 1: I want to help them invest, which sounds great for 73 00:03:32,000 --> 00:03:33,800 Speaker 1: a player, but I don't know if I see then 74 00:03:33,840 --> 00:03:36,000 Speaker 1: where the big returns are for the investor, well, for 75 00:03:36,080 --> 00:03:38,680 Speaker 1: our audience, that's really important. Rudy Clin Thomas, who is 76 00:03:38,720 --> 00:03:41,080 Speaker 1: the founder of Mastery, who is now going to be 77 00:03:41,120 --> 00:03:43,400 Speaker 1: the owner, you know, African American male. You know it 78 00:03:43,480 --> 00:03:46,040 Speaker 1: was going to be you know, the new owner of Athletes. First, 79 00:03:46,920 --> 00:03:49,800 Speaker 1: you know, he was andre Iguadala's like number two, right, 80 00:03:49,840 --> 00:03:51,880 Speaker 1: I mean, he was the guy who basically they own 81 00:03:52,000 --> 00:03:55,360 Speaker 1: leads together the spier team. So my point is, if 82 00:03:55,400 --> 00:03:58,600 Speaker 1: you have now him at the Helm and African American 83 00:03:58,760 --> 00:04:01,680 Speaker 1: the very first in this base. You know, what does 84 00:04:01,720 --> 00:04:04,080 Speaker 1: that mean for you know them? I guess their ability 85 00:04:04,120 --> 00:04:06,320 Speaker 1: to attract you know, a greater majority of the athletes 86 00:04:06,360 --> 00:04:08,520 Speaker 1: because it's got to be a volume play, right right. 87 00:04:08,720 --> 00:04:11,040 Speaker 1: I think that's part of it. They feel like they 88 00:04:11,120 --> 00:04:14,040 Speaker 1: will get athletes will want to be there, and that 89 00:04:14,120 --> 00:04:17,120 Speaker 1: they can tap into athletes sort of help them do 90 00:04:17,320 --> 00:04:19,559 Speaker 1: the types of deals maybe they haven't done before, whether 91 00:04:19,560 --> 00:04:23,320 Speaker 1: that's commercial real estate, whether that's founding companies themselves, that 92 00:04:23,400 --> 00:04:25,919 Speaker 1: they can bring that expertise in that knowledge, but also 93 00:04:26,200 --> 00:04:28,520 Speaker 1: have those conversations in a way that you know they'll 94 00:04:28,560 --> 00:04:32,160 Speaker 1: be trusted. Does athletes first do anything along those lines 95 00:04:32,240 --> 00:04:34,920 Speaker 1: right now? They do? So. I talk to Brian Murphy 96 00:04:34,920 --> 00:04:37,320 Speaker 1: and he said, look, we trive always tried to give 97 00:04:37,440 --> 00:04:39,720 Speaker 1: people as much of listen to them about what they 98 00:04:39,760 --> 00:04:41,360 Speaker 1: want and if they just want to play football, we 99 00:04:41,440 --> 00:04:43,000 Speaker 1: let them just play football. If they want to start 100 00:04:43,000 --> 00:04:44,720 Speaker 1: a foundation, we help them do that. If they want 101 00:04:44,760 --> 00:04:46,919 Speaker 1: to get into x Y business, we try to open doors. 102 00:04:46,920 --> 00:04:49,960 Speaker 1: But essentially we can't open as many doors as mastery 103 00:04:50,040 --> 00:04:53,200 Speaker 1: ventures in general catalysts can. So it's just a way 104 00:04:53,440 --> 00:04:55,800 Speaker 1: to increase the scale of what you're doing well it, Scarlett, 105 00:04:55,839 --> 00:04:57,839 Speaker 1: you know in VC, right, for every nineteen, you know, 106 00:04:57,839 --> 00:04:59,720 Speaker 1: for every twenty investments you make, nineteen are going to 107 00:04:59,800 --> 00:05:01,240 Speaker 1: mess and one going ahead. So let me give you 108 00:05:01,279 --> 00:05:04,040 Speaker 1: some numbers here, or some names rather. So Mastery was 109 00:05:04,080 --> 00:05:08,880 Speaker 1: an investor in coin Base, Zoom, General Catalyst, Warby Parker. Right, 110 00:05:09,200 --> 00:05:12,240 Speaker 1: we're saying there's twenty of the those firms for everyone 111 00:05:12,279 --> 00:05:14,400 Speaker 1: they named, right, So I guess I guess my point 112 00:05:14,440 --> 00:05:16,640 Speaker 1: is they have experience in kind of finding these diamonds 113 00:05:16,640 --> 00:05:18,640 Speaker 1: in the rough. They have that Silicon Valley background. I mean, 114 00:05:18,680 --> 00:05:20,600 Speaker 1: Andre Guddala, you know, played for you know, the Golden 115 00:05:20,600 --> 00:05:23,080 Speaker 1: State Warriors. Talked to him and what surprised me about 116 00:05:23,080 --> 00:05:26,080 Speaker 1: the way he thought through everything was that he intended 117 00:05:26,080 --> 00:05:28,440 Speaker 1: to go to a Golden State because he wanted access 118 00:05:28,480 --> 00:05:30,839 Speaker 1: to those Silicon Valley founders. And same with Durant. That 119 00:05:30,839 --> 00:05:32,400 Speaker 1: was Kevin Durant, all right, So I mean like that 120 00:05:32,440 --> 00:05:34,720 Speaker 1: was exactly right. And so I guess you know, these 121 00:05:35,160 --> 00:05:37,760 Speaker 1: former Golden State Warrior athletes and their helpers, you know, 122 00:05:37,839 --> 00:05:40,560 Speaker 1: have had a real interesting run the last ten fifteen 123 00:05:40,600 --> 00:05:42,560 Speaker 1: years as VC as these companies have kind of come 124 00:05:42,640 --> 00:05:45,400 Speaker 1: into being, and so you know, leveraging that and taking 125 00:05:45,400 --> 00:05:49,080 Speaker 1: it now directly into you know, the realm of CIA 126 00:05:49,160 --> 00:05:50,720 Speaker 1: and I am I mean we talked to us about 127 00:05:50,760 --> 00:05:52,760 Speaker 1: the competition there. I mean, like, I mean, where do 128 00:05:52,839 --> 00:05:55,320 Speaker 1: they Where do you think the agency plans to go 129 00:05:55,360 --> 00:05:57,400 Speaker 1: from here? You know, it's interesting because you look at 130 00:05:57,480 --> 00:05:59,480 Speaker 1: sort of the black owned side of what we were 131 00:05:59,480 --> 00:06:02,279 Speaker 1: talking about, and you have seen in other sports Clutch group, 132 00:06:02,560 --> 00:06:05,320 Speaker 1: Rock Nation and the entertainment side, and they have generally 133 00:06:05,360 --> 00:06:08,559 Speaker 1: partnered up with Live Nation or United Artists, and so 134 00:06:09,480 --> 00:06:12,400 Speaker 1: this is not exactly uncharted, you know, sort of doing 135 00:06:12,440 --> 00:06:15,000 Speaker 1: this kind of deal. But this is a the wrinkle 136 00:06:15,000 --> 00:06:18,400 Speaker 1: on this is the VC is coming in with the 137 00:06:18,440 --> 00:06:21,280 Speaker 1: money and bringing that black ownership to it rather than 138 00:06:21,279 --> 00:06:24,360 Speaker 1: the other than the sort of agencies. Yeah, so you know, 139 00:06:24,360 --> 00:06:26,839 Speaker 1: and I think you're right that, Like you know, this 140 00:06:26,960 --> 00:06:29,880 Speaker 1: is sort of an extension of what Rudy was doing 141 00:06:30,000 --> 00:06:32,720 Speaker 1: with those Warriors players, where then he was sort of 142 00:06:33,200 --> 00:06:35,760 Speaker 1: helping them get access to the large funds and getting 143 00:06:35,839 --> 00:06:38,080 Speaker 1: deal flow through them. Now he's got his own fund 144 00:06:38,480 --> 00:06:40,400 Speaker 1: and he's going back to the athletes. So it's in 145 00:06:40,400 --> 00:06:41,839 Speaker 1: a way, it's like a full circle. I kind of 146 00:06:41,880 --> 00:06:44,279 Speaker 1: have to think that as well. This allows them to 147 00:06:44,600 --> 00:06:47,680 Speaker 1: spread to college players and high school players too with NIL, 148 00:06:47,880 --> 00:06:50,280 Speaker 1: because those are going to be your future entrepreneurs too, 149 00:06:50,320 --> 00:06:53,000 Speaker 1: and you can get to them really quickly. That's definitely true, 150 00:06:53,040 --> 00:06:55,160 Speaker 1: and just in general in the NIL space. One thing 151 00:06:55,160 --> 00:06:57,880 Speaker 1: that I've heard a lot is that that is what's happening, 152 00:06:57,960 --> 00:07:02,160 Speaker 1: that the agencies have to get to possible major talents 153 00:07:02,160 --> 00:07:04,800 Speaker 1: earlier and earlier. And it's a lot like investing in 154 00:07:04,839 --> 00:07:07,400 Speaker 1: a startup where you know twenty of these are not 155 00:07:07,440 --> 00:07:08,880 Speaker 1: going to work out, but you have to get the 156 00:07:08,920 --> 00:07:11,080 Speaker 1: one who's going to be the household name. Right, They're 157 00:07:11,080 --> 00:07:12,760 Speaker 1: gonna look at the pro athletes and be like, oh, 158 00:07:12,800 --> 00:07:15,040 Speaker 1: look at them, and they're able to get be introduced 159 00:07:15,040 --> 00:07:17,280 Speaker 1: to all these incredible opportunities. That's where I want to be. 160 00:07:17,320 --> 00:07:19,480 Speaker 1: For financial nerds out there, I think a comp from 161 00:07:19,520 --> 00:07:21,120 Speaker 1: me anyway, when you're looking at it, you know a 162 00:07:21,160 --> 00:07:23,920 Speaker 1: company like this, You look at what SoftBank did with Compass, right, 163 00:07:23,960 --> 00:07:26,080 Speaker 1: the real estate brokerage firm where your agencies come in 164 00:07:26,120 --> 00:07:27,920 Speaker 1: and out every day, they can leave at their whim. 165 00:07:27,920 --> 00:07:29,400 Speaker 1: But what was the play from I guess a VC 166 00:07:29,600 --> 00:07:32,320 Speaker 1: from a tech standpoint, it was maybe the data collection 167 00:07:32,360 --> 00:07:34,720 Speaker 1: maybe again or their ability to touch a greater you know, 168 00:07:34,800 --> 00:07:38,600 Speaker 1: volume of people or whatever the case may be. I think, 169 00:07:38,720 --> 00:07:40,120 Speaker 1: you know, that's kind of got to be the way 170 00:07:40,160 --> 00:07:41,720 Speaker 1: I would look at it, right because to me, again, 171 00:07:41,800 --> 00:07:44,280 Speaker 1: these agents, I mean David Dunn himself, you know, uped 172 00:07:44,280 --> 00:07:46,480 Speaker 1: and left. You know, yeah, he wasn't able to Actually, 173 00:07:46,560 --> 00:07:48,200 Speaker 1: if I'm not mistaken, I think he's banned for like 174 00:07:48,520 --> 00:07:52,480 Speaker 1: eight nine years before yeah, oh yeah, oh yeah, and 175 00:07:52,640 --> 00:07:54,720 Speaker 1: uh oh yeah. And but I mean, look now you 176 00:07:55,040 --> 00:07:56,480 Speaker 1: take a look at where that company is and where 177 00:07:56,480 --> 00:07:58,400 Speaker 1: he is, and it's just an unbelievable job. And I'd 178 00:07:58,400 --> 00:08:00,880 Speaker 1: love to get a number for what that companies. One 179 00:08:00,960 --> 00:08:04,000 Speaker 1: hundred and fifty million only eight years ago. Pretty unvolievable. Yeah, 180 00:08:04,000 --> 00:08:06,160 Speaker 1: and you know, I'm sold definitely on the fact that 181 00:08:06,200 --> 00:08:08,360 Speaker 1: client service is going to be really good. Yeah. Yeah, 182 00:08:08,480 --> 00:08:10,880 Speaker 1: So it's good for players, We'll see how it is 183 00:08:10,920 --> 00:08:14,360 Speaker 1: for business. Have you talked to any other talent agencies 184 00:08:14,360 --> 00:08:17,520 Speaker 1: and how they're going to position themselves respond to this. 185 00:08:17,760 --> 00:08:20,000 Speaker 1: I haven't heard from the competition on this, you know, 186 00:08:20,080 --> 00:08:23,400 Speaker 1: I think they all basically will make the same pitch 187 00:08:23,440 --> 00:08:26,160 Speaker 1: to their athletes. Octagon Sea, They'll say, we have scale, 188 00:08:26,160 --> 00:08:27,840 Speaker 1: will do whatever you want, will listen, and then it 189 00:08:27,840 --> 00:08:31,240 Speaker 1: just comes down to that execution like who actually can 190 00:08:31,320 --> 00:08:33,199 Speaker 1: get you on a board that you want to be on, 191 00:08:33,320 --> 00:08:36,040 Speaker 1: who can help you, you know, invest in the company 192 00:08:36,080 --> 00:08:39,000 Speaker 1: that you want to invest in, And that's you know, yeah, 193 00:08:39,320 --> 00:08:40,960 Speaker 1: I mean I also have to believe in order to 194 00:08:41,000 --> 00:08:44,000 Speaker 1: get you know, uh, you know, Clent Thomas and the 195 00:08:44,040 --> 00:08:45,760 Speaker 1: investors comfortable, there has to be some sort of a 196 00:08:45,800 --> 00:08:48,720 Speaker 1: secession plan in place, right, you have to have these 197 00:08:48,760 --> 00:08:50,839 Speaker 1: agents or somebody locked in for a period of time 198 00:08:50,920 --> 00:08:52,800 Speaker 1: so that they're not walking out the door tomorrow. Yeah. 199 00:08:52,800 --> 00:08:55,600 Speaker 1: I guess you know, an understanding is who the agents 200 00:08:55,880 --> 00:08:58,199 Speaker 1: twenty odd agents there are getting a piece? Yeah, so 201 00:08:58,240 --> 00:09:01,000 Speaker 1: that it's got to be equity oriented. Yeah, exactly, there's 202 00:09:01,000 --> 00:09:04,760 Speaker 1: got to be everybody. Everybody gets a slice, right, equity 203 00:09:04,760 --> 00:09:08,360 Speaker 1: all around for everyone. Oh, thank you so much, Ira Boodway. 204 00:09:08,400 --> 00:09:10,800 Speaker 1: A great story. How did you just tell us the 205 00:09:10,800 --> 00:09:13,160 Speaker 1: backstory of how you got this? Well, I've written about 206 00:09:13,200 --> 00:09:16,920 Speaker 1: Rudy before. Rudy Clan Thomas when he was working more 207 00:09:16,960 --> 00:09:19,920 Speaker 1: with directly with Andrey Goodala and helping Warriors players get 208 00:09:19,960 --> 00:09:23,280 Speaker 1: access to the world of Silicon Valley. We did. I 209 00:09:23,280 --> 00:09:24,679 Speaker 1: did a piece with him and then I spoke with 210 00:09:24,760 --> 00:09:29,040 Speaker 1: him again more recently when he was helping minority investors 211 00:09:29,080 --> 00:09:33,559 Speaker 1: get in on a Harvard development deal that had lab. Right. Yeah, 212 00:09:33,600 --> 00:09:36,760 Speaker 1: they did this big science lab and they had stipulated 213 00:09:36,800 --> 00:09:39,079 Speaker 1: Harvard had that they needed a certain percentage of the 214 00:09:39,360 --> 00:09:42,520 Speaker 1: equity side of the funding to come from minority investors, 215 00:09:42,559 --> 00:09:44,720 Speaker 1: and so Rudy clan Thomas put together a group that 216 00:09:44,760 --> 00:09:47,800 Speaker 1: helped them hit that number. So yeah, he's doing lots 217 00:09:47,800 --> 00:09:50,200 Speaker 1: of things in this world. Okay, he saw the opportunity 218 00:09:50,200 --> 00:09:53,400 Speaker 1: and off we went. I really appreciate it. Ira Boodway 219 00:09:53,440 --> 00:09:55,640 Speaker 1: is with Bloomberg Business Week. Thank you so much for 220 00:09:55,720 --> 00:09:58,680 Speaker 1: joining us. This is the Bloomberg Business of Sports podcast. 221 00:09:58,760 --> 00:10:02,120 Speaker 1: I'm Scarlet Food. You are who am I these days? 222 00:10:02,440 --> 00:10:05,080 Speaker 1: I'm Damien sass Hour and Michael Barr will be back 223 00:10:05,160 --> 00:10:08,280 Speaker 1: later this week. Catch us every Monday, Wednesday and Thursday 224 00:10:08,320 --> 00:10:10,559 Speaker 1: where we explore the world of money and sports. I'm 225 00:10:10,600 --> 00:10:12,880 Speaker 1: on Twitter as well at Scarlett Go and I'm on 226 00:10:12,920 --> 00:10:16,040 Speaker 1: Twitter at sass Hour. You're listening to Bloomberg Business of Sports. 227 00:10:16,040 --> 00:10:17,640 Speaker 1: I'm Bloomberg Radio around the world.