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Speaker 1: This is the business of sports. Should Major League Baseball

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Speaker 1: shorten up the season? How do we present football to

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Speaker 1: the audience of the future. I don't think that most

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Speaker 1: players understand the power that they have. Michael vaugh The

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Speaker 1: future of IndyCar racing is looking bright. Scott slosh Nick

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Speaker 1: very basic math here, more bidders means more money. Evan

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Speaker 1: Nobody Williams. The team value has essentially quadruples. And the

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Speaker 1: leaders in the sports industry. Time to bring in our guest,

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Speaker 1: hal Steinbrunner, National HOCKEYLEAGU Commissioner Gary Bettman, Atlanta Braves President

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Speaker 1: Derek Schiller, Patriots President Jonathan Kraft. Bloomberg Business of Sports

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Speaker 1: from Bloomberg Radio. Hello, I'm Michael barn I'm Evan, Novie

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Speaker 1: Williams and Scott Sloshnik. Every week at this time plus Monday's,

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Speaker 1: Wednesdays and Thursdays, we explore the big money issues in

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Speaker 1: the world of sports. On this week's show, we have

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Speaker 1: NFL player of the Los Angeles Rams and the Detroit Lions.

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Speaker 1: He used to be there in Dominican. You will take

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Speaker 1: any link to Detroit. You do. But first let's get

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Speaker 1: to our topics of the day. Let's start NBA and

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Speaker 1: Allie babble. Yeah, no surprising here that the NBA is

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Speaker 1: uh pretty popular in Asia and they are courting this

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Speaker 1: world is flat right. The numbers for TV viewership are

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Speaker 1: going down, but the NBA engages on social media like

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Speaker 1: no other sports league. They have access now in Ali

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Speaker 1: Baba and it's gonna be some original content but across

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Speaker 1: all platforms access to Ready for the number and it's

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Speaker 1: not the number of the week, but seven hundred million

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Speaker 1: people across Ali Baba platforms is the potential. You can

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Speaker 1: see an ability in a in a league that is

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Speaker 1: four in the forefront of micro transactions. Do the math

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Speaker 1: dollar a week, two dollars a week, dollar for a

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Speaker 1: fourth quarter, whatever it may be. Do the math bar Yeah,

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Speaker 1: that this increases the NBA's presence over there. Let's not

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Speaker 1: forget that they're still in the middle of a five year,

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Speaker 1: seven hundred million dollar deal I think with ten Cent

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Speaker 1: another massive media property overseas in China. But again, as

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Speaker 1: you said, Scott, you know, the the NBA has been

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Speaker 1: of the major US leagues, think maybe the smartest in

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Speaker 1: terms of dicing up. It's it's media presence, finding new

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Speaker 1: and innovative ways beyond just live games and live highlights

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Speaker 1: to to get their stuff to fans, and this is

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Speaker 1: just another piece of the tip of the speed. Importantly,

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Speaker 1: they've been in China for decades, so you can't just up,

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Speaker 1: you can just show up into business in China. They

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Speaker 1: have some institutional knowledge. Let's move on to Major League

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Speaker 1: base Oh my, moving into twenty nineteen, we're talking about

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Speaker 1: gambling data. There's gonna be changes to the uniform, lineup, etcetera, etcetera, etcetera. Yeah,

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Speaker 1: this is I mean, it's it's it's a conversation we've

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Speaker 1: had in the past before. But Baseball announced a few

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Speaker 1: changes that I think most fans won't care about, but

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Speaker 1: there are a few out there who will um. Starting

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Speaker 1: this year, lineups will no longer be disseminated by clubs. First,

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Speaker 1: they won't be posted originally in the in the bullpen

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Speaker 1: or in the locker room for for beat writers to

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Speaker 1: tweet out. Lineups and umpire assignments are going to be

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Speaker 1: delivered first fifteen minutes or they're released to the Central

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Speaker 1: Office Major League Baseball Central Office. And why that matters

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Speaker 1: is that those are two things that gamblers love to know.

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Speaker 1: The history of an umpire, absolutely, yeah, so they know

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Speaker 1: who these umpires are and how you know who's behind

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Speaker 1: the plate is going to affect the game. Also, obviously,

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Speaker 1: whether you know who's starting a third base, who's who's

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Speaker 1: who's starting a catcher, things like that are also tremendously important.

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Speaker 1: Major League Baseball is trying to find ways to monetize

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Speaker 1: or to make more money off of off of this

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Speaker 1: gambling and one of the ways they're trying to do

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Speaker 1: that is to make their data as valuable as possible,

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Speaker 1: and they are starting to curtail or rain in a

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Speaker 1: lot of these other, you know, outside ways in which

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Speaker 1: gamblers get information, trying to make sure that that that

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Speaker 1: that there are you know, both gamblers and more importantly,

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Speaker 1: gambling operators have to pay the league office for the

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Speaker 1: right to get that data. Let's see, also, is that

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Speaker 1: your fantasy sports players, like I am, you want to

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Speaker 1: know the lineup from the fact that will give me

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Speaker 1: that give me the batting worker, because I want to

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Speaker 1: know what's happening. If you who's going one through four,

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Speaker 1: because one through four you don't and you know what

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Speaker 1: now you're laughing, but about six through nine, I'd rather

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Speaker 1: shy away from that than go to one before. I mean,

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Speaker 1: this is not a surprise. You can see why they're doing. Yeah,

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Speaker 1: and it also limits the inside information, like the edge

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Speaker 1: that people may have makes the inside information more valuable.

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Speaker 1: Let's talk about college basketball, and it's the big scandal

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Speaker 1: and now there is prison time involved for some people.

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Speaker 1: But wasn't this supposed to like rock college basketball? Right, this,

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Speaker 1: this scandle was supposed to. Remember when it happened, I

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Speaker 1: remember even people inside the building here, we're freaking out.

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Speaker 1: It's supposed to rock college basketball. You know what it did?

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Speaker 1: It got Rick Petino to Greece. That that in essence,

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Speaker 1: I mean, right now, who knows what. I don't know

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Speaker 1: what's coming, but right now the some of it all.

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Speaker 1: Yet I understand that, you know, these bit players in

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Speaker 1: the college basketball scene are going to jail. And I

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Speaker 1: don't mean to minimize that, but the institution itself. Rick

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Speaker 1: Petino's increase U S. District Judge Lewis Kaplan when he

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Speaker 1: made the gave down the sentences earlier this week, said

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Speaker 1: you know, he wants to send quote a great big

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Speaker 1: warning light to the basketball world. Kind of along those lines, Scott,

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Speaker 1: I'm not sure this has really changed all that much.

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Speaker 1: The news this week Jim Ghatto, the former Adidas executive,

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Speaker 1: nine months sentence, and then Christian Dawkins and Merle Code,

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Speaker 1: one of whom was an Adidas consultant, but both of

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Speaker 1: which were kind of in this nebulous college basketball middleman

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Speaker 1: type world. Uh, they were both given six months. Uh

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Speaker 1: they're appealing those sentences. But yes, the big question is

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Speaker 1: is college basketball any different sitting here today in March

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Speaker 1: than it was, you know, two years ago in March seventeen,

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Speaker 1: long before the FBI you know, stood out on the

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Speaker 1: front steps of the courthouse and announced that they had,

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Speaker 1: you know, it completed a three year investigation into into

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Speaker 1: bribery and college basketball. I'm not entirely sure that that's

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Speaker 1: that's what that's what I see. And another thing to

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Speaker 1: think about here, The way that a lot of these

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Speaker 1: changes are really going to take root is at the

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Speaker 1: at the youth basketball level. Right the n c a

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Speaker 1: A is trying, and take that with a grain of

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Speaker 1: salt um, trying hard to you know, limit the influence

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Speaker 1: that companies like Adidas, like Nike, like under Armoor have

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Speaker 1: at the youth basketball level. And if that happens, maybe

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Speaker 1: some of this gets cleaned up. But I think a

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Speaker 1: lot of the level headed people look at this and say,

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Speaker 1: we're putting the wrong people. We're holding the wrong people responsible.

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Speaker 1: But by the way, for the process, this is totally

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Speaker 1: totally off topic, but still because we're talking about sneaker

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Speaker 1: and a power and all that. Did you seez Ion

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Speaker 1: Williamson win an Adidas. Yeah, it's like you see the

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Speaker 1: three stripes up and down everywhere. I hope nobody told

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Speaker 1: him to do it. I hope he did that on

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Speaker 1: his own and showed like the sophistication of the sports

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Speaker 1: business world was like, you know, the Nike tour, Let

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Speaker 1: let me, let me throw a little little three stripes

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Speaker 1: out there. His negotiation is gonna be nice. Okay, now,

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Speaker 1: let's get to this week's interview with NFL player with

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Speaker 1: the Los Angeles around ms In Dominican Zoo nominative detroitter.

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Speaker 1: We all know that a huge fan. He played for

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Speaker 1: the Detroit Lions, and he was drafted as their second

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Speaker 1: overall pick in the NFL draft, multi time Pro Bowl selection.

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Speaker 1: But Michael, you know he's done so much off the

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Speaker 1: field as well, from restaurants, real estate, tech investments, we'll

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Speaker 1: talk about it all. But no, Dominican. You know, there

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Speaker 1: are busy athletes out there, and there are really busy

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Speaker 1: athletes in near the ladder. So thank you very much

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Speaker 1: for taking time out of the schedule to chat with us.

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Speaker 1: Thank you for having me. It's it's a pleasure to

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Speaker 1: talk to you guys. So I I mentioned to a

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Speaker 1: buddy of mine yesterday that that that we were going

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Speaker 1: to have you on the show, and his response was, Oh,

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Speaker 1: I love him. I know he's a good businessman. I

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Speaker 1: saw it on Ballers. Can you can you educate my

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Speaker 1: buddy about the truth how realistic that show is versus

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Speaker 1: what your actual life is like. Ballers is definitely not realistic.

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Speaker 1: A lot of fun, a lot of excitement that I

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Speaker 1: had been able to do a cameo on there, and

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Speaker 1: time with the Rock and whatnot, and a great supporting

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Speaker 1: casts to say the least. But in my true life

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Speaker 1: that is outside of being a doing a cameo, it's

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Speaker 1: a very small blip of who I am. And there

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Speaker 1: were there were some threads of truth in there. Right,

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Speaker 1: I believe your character is interested in a restaurant on

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Speaker 1: the show, right, I know you are active in the

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Speaker 1: restaurant business in real life. Give us a sense. Right now,

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Speaker 1: you're six weeks removed from the Super Bowl. I'm sure

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Speaker 1: you're working hard physically as well. What is your life

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Speaker 1: like right now as you balance working out and your

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Speaker 1: and your football career versus all the other kind of

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Speaker 1: off field interests that you have. Yeah, speaking about that

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Speaker 1: small blip. Yeah, I'm very interested in restaurants and actually

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Speaker 1: have a handful of them that I'm a partner in

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Speaker 1: and participate in. Uh. Probably the most notable one is

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Speaker 1: in downtown in the city of Detroit. Um called part

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Speaker 1: part that I actually love in and and right out

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Speaker 1: in front of actually Dan Gilbert's great establishment of a

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Speaker 1: Quicken Loans. So um, I love the restaurant business. I

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Speaker 1: know a lot of athletes and people have said in

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Speaker 1: the past you gotta be careful, but I truly believe

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Speaker 1: if you're if you're very educated and know how to

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Speaker 1: read a P and L as well as I have

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Speaker 1: great partners, you'll be fun. I have to tell you

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Speaker 1: you're talking to a native Detroitter who is a die

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Speaker 1: hard Detroit Lions fan. We need you back, man, We

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Speaker 1: loved you back in Detroit. So yeah, I get it.

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Speaker 1: And you know what Detroit is you talk about your

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Speaker 1: business in Detroit. Detroit is on the on the move

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Speaker 1: upward and and a lot of that, like you said,

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Speaker 1: is with Dan Gilbert and and right in that section

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Speaker 1: in the you know, the Washington UH Square area and

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Speaker 1: all in that in that Cadillac s Yeah, Cadillac Square

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Speaker 1: and Campus Marshes, all of those above up and down.

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Speaker 1: What word A close friend. And as I mentioned before,

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Speaker 1: Dan Gilbert has done a tremendous job to jump start

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Speaker 1: that city and get back to its feat uh. And

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Speaker 1: I was lucky enough to be in the process of

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Speaker 1: that in when I first got there as a rookie

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Speaker 1: playing for the Lions, and um, it was exciting, and

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Speaker 1: I was very blessed to be able to be in

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Speaker 1: his offices. Check out all the cool things that they're doing,

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Speaker 1: all the amazing companies outside of quick a loan that

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Speaker 1: he controls and has people, uh continue to innovate and

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Speaker 1: make that city come alive again. So I've been excited

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Speaker 1: and related to be a part of that and continue

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Speaker 1: to do that even though I unfortunately don't play there anymore,

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Speaker 1: but I spend time there in the off season all

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Speaker 1: the time I've got great mentors in addition to Dan

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Speaker 1: uh Dat. I get to spend time with and and

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Speaker 1: go see projects that I'm working on consistently. And you're

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Speaker 1: in an area and just the trade Red Wings recently

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Speaker 1: set up shop in that area also, so you have

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Speaker 1: the Tigers there, of course, you have the Lions there,

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Speaker 1: You've got the Red Wings there, and my goodness, I

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Speaker 1: mean that if for a sports complex. Detroit is booming

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Speaker 1: there and I'm wondering if many other cities will use

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Speaker 1: that as the model. Yeah, I think it would be

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Speaker 1: smart for them to do that as a model. And

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Speaker 1: I think the Detroit has done an amazing job between

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Speaker 1: the Ford family, the Illage family who have both the

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Speaker 1: hockey UH as well as the Tigers there, and then

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Speaker 1: obviously now the Pistons have moved down from from Auburn Hills,

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Speaker 1: which has been great. And you've got all sports sports,

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Speaker 1: major sports teams down there, which is a huge thing,

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Speaker 1: and I think it's going to continue to grow. The city.

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Speaker 1: UH Midtown is blowing up. I love to see how

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Speaker 1: they're doing a bunch of different stuff as well as

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Speaker 1: UH Shinola. I'm sure a lot of people know of

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Speaker 1: is has been a big, big part of that in

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Speaker 1: the business community. Uh. And then you have the d

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Speaker 1: m C and the great hospitals all around there. So

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Speaker 1: it's it's an exciting time to be in Detroit and

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Speaker 1: it has been over the last five to ten years

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Speaker 1: to just see it continue to grow. We are chatting

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Speaker 1: with and Dominican Sue of the l A. Rams and

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Speaker 1: let me ask this. You mentioned some owners. The relationship

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Speaker 1: between owners and players sometimes is seen as strange unions

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Speaker 1: as well as management. However, there is a lot to

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Speaker 1: be learned from each side. Grant Hill used to tell

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Speaker 1: me when he was playing, when he was in a

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Speaker 1: visiting city, he would like to meet with the other

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Speaker 1: team's owner to see about their core business, establish a relationship,

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Speaker 1: knowing that basketball wasn't always going to be his profession.

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Speaker 1: Sounds like you're taking a similar text. Uh. That's actually

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Speaker 1: an amazing idea. And I've never never really stowed that

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Speaker 1: usually because I'm when I'm traveling to a city, I'm

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Speaker 1: laser focused and attacking and that that particular owners team.

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Speaker 1: But essay, that's that's super creative and they have to

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Speaker 1: add that to my repertoire. But but no, I I've

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Speaker 1: been super blessed I said before, UH, there's a lot

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Speaker 1: of great owners and people that I've met, So I

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Speaker 1: know the Illages more specifically Denise as a as a

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Speaker 1: eight woman of the Illage family. And then like I said,

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Speaker 1: Dan mr Ross is a part of UH the Detroit

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Speaker 1: family even though he's in New York and UH and

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Speaker 1: UH and down in Miami obviously being the Miami Dolphins owner.

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Speaker 1: So I've been super great to be able to connect

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Speaker 1: with those owners and build relationships with them. UH So

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Speaker 1: when every time I need something or or want to

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Speaker 1: just pick their brains, they're super open and and have

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Speaker 1: direct lines of communication to them. So Grant Hills tremendously

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Speaker 1: smart and and and accurate about being able to have

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Speaker 1: their knowledge because they didn't get successful by their sports teams.

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Speaker 1: They were successful before they bought their sports teams in

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Speaker 1: most cases. UH. So they've built companies, built businesses that

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Speaker 1: you can learn great things from UH and then be

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Speaker 1: able to translate any that into sports as there's a

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Speaker 1: common thread between business and sports UH in running them

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Speaker 1: and UH, and there's a lot of things for us

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Speaker 1: as athletes can that lessons that we can learn. Don't

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Speaker 1: you think the common thread right now is sports is business.

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Speaker 1: I mean they're not even separate entities. It's an entertainment business.

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Speaker 1: But I'm always fascinated by the rich folks who choose

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Speaker 1: not to participate in sports. Here's so much about asset appreciation,

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Speaker 1: valuation of teams. The high profile Mike Bloomberg is one

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Speaker 1: he has not dipped his shoe into professional sports, and

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Speaker 1: one of your mentors, Warren Buffett, also has not been

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Speaker 1: interested in pro sports other than a fan. Has he

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Speaker 1: ever told you why he's chosen not? I mean minor

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Speaker 1: league baseball, yes, but I'm talking big time pro sports.

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Speaker 1: Why has he stayed away? I'm not positive We've actually

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Speaker 1: never touched on that topic. On on the ability of

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Speaker 1: why he hasn't UH usually focused on primarily owning a

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Speaker 1: sports team obviously is I'm sure if he wanted to

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Speaker 1: he could, UH and what has all the the opportunities

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Speaker 1: to But I think his his ethos and focused to

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Speaker 1: do it is UH is primarily on long lasting things

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Speaker 1: that people want to focus on, and not saying sports

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Speaker 1: will go anywhere, but there's obviously a fluctuation of things

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Speaker 1: that take place UH and maybe a little bit more

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Speaker 1: volatil be through those pieces. But I would say, Uh,

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Speaker 1: it depends on the person in their actual true passions

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Speaker 1: of wanting to be into the sports business or not.

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Speaker 1: But I think there's a lot of creative things that

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Speaker 1: you can use sports teams for, as I've seen being

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Speaker 1: in l A, how the Dodgers have an incubator and

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Speaker 1: they've been very forward thinking about how they look at

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Speaker 1: being able to not only own the team, but be

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Speaker 1: able to build things in other companies around their sports team,

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Speaker 1: uh that not only use them as a as a

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Speaker 1: leverage tool, but also being able to use those particular

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Speaker 1: mechanisms and those uh incubators. They think that they've incubated

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Speaker 1: it to better their team. So I think it's a

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Speaker 1: given take and there's a lot of things that you

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Speaker 1: can use to grow when you have an opportunity to

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Speaker 1: own a sports franchise. I'm assuming that you connected with

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Speaker 1: with foreign Buffett through Nebraska. You you obviously played at

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Speaker 1: the University of Nebraska in Lincoln. What are your how

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Speaker 1: often do you guys talking? What are those conversations like,

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Speaker 1: why are there specific things you're trying to kind of

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Speaker 1: had from from from his obviously successful history. Yeah, we've

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Speaker 1: we've been able to be friends for a long period

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Speaker 1: of time actually right after it's going on by eight

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Speaker 1: nine years now. UH. And we met the first time

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Speaker 1: when I was leaving college. Was actually my senior year

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Speaker 1: in December. He was an honorary captain and I met

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Speaker 1: him for the first time and and UH followed up

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Speaker 1: a little bit about six months later UH and got

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Speaker 1: a chance to be connected with him by UH coach

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Speaker 1: Osborne and it's been a great situation. We spoke for

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Speaker 1: the first time for three about two three hours and

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Speaker 1: it is awesome at stay connected ever since. And he

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Speaker 1: supported me and I've gone to UH to obviously his

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Speaker 1: great short shareholders meeting UH and lovely Omaha. But being

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Speaker 1: able to connect with him pretty much at any point

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Speaker 1: in time just email or phone call. All I gotta

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Speaker 1: do is pick up the phone and he's he's always

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Speaker 1: there to answer. And it's a great situation to have.

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Speaker 1: And we are learning a handful of things from him

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Speaker 1: and continue to do so UH. And it's been a

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Speaker 1: great blessing. And things that I enjoy from him is

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Speaker 1: just his overall view and focus on UH steady things

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Speaker 1: that that are going to continue to grow and consumer

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Speaker 1: products and things of that nature that he sees that

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Speaker 1: people always want and I think that's important. Uh. And

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Speaker 1: when you're creating self preservation as most athletes need to

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Speaker 1: do with their funds and creating cash flow and whatnot.

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Speaker 1: We're chatting with and Dominans Sue of the l A. Rams.

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Speaker 1: Are you a Berkshire Hathaway shareholder or you just go

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Speaker 1: to the meeting? I am you are? How much? How much?

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Speaker 1: I'm gonna keep that private, But I've got I've got

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Speaker 1: plenty of shares for sure, all up in the man's business.

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Speaker 1: You know what they say in journalism school and Dominican

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Speaker 1: there is no question you should not ask. You can

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Speaker 1: say I not to answer, very very good. No, there's

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Speaker 1: no problem. You ask. It doesn't mean you're gonna get

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Speaker 1: to That's what my wife tells me. I would like

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Speaker 1: to ask you something though, about something you said a

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Speaker 1: year ago, and it involves athletes who get huge contracts.

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Speaker 1: It was in the business inside, and you said that

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Speaker 1: the contract should really be split because of taxes and fees.

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Speaker 1: And when when I saw that, I'm like, you know what,

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Speaker 1: that's a good idea. Can you explain more about that? Yeah? Uh,

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Speaker 1: And the reason why I said that just to read

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Speaker 1: a real reiterate your question about saying you see great

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Speaker 1: deals that players get. So if you look at Aaron Donald,

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Speaker 1: my great teammate this past year, signed an amazing deal,

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Speaker 1: and very happy for him. But when you actually look

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Speaker 1: at it and you have an agent who was getting

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Speaker 1: two to three percent, not knowing what his situation is,

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Speaker 1: but on average, that's usually what guys were giving up

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Speaker 1: or for helping to get great deals like that. And

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Speaker 1: then in addition to we live in California, which is

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Speaker 1: a huge tax state with regard to what they take

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Speaker 1: out of our W two's which is about thirteen percent,

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Speaker 1: and then you have our federal income state tax which

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Speaker 1: is another forty seven per seven percent. Uh, I believe

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Speaker 1: was just the changes that recently happened in tax reform. Um.

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Speaker 1: That's right there. Um. And so when you look at

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Speaker 1: those things and you look at your pay stubs, UH,

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Speaker 1: that money that you see is usually cut in half.

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Speaker 1: And so people see these amazing numbers, which is obviously

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Speaker 1: we're very very blessed to be in those physicians and

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Speaker 1: be able to get that, but uh, it's truthfully cut

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Speaker 1: in half based on taxes and how things work in

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Speaker 1: the in the world. So for you last year l

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Speaker 1: A Rams, I believe a one year fourteen million dollar

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Speaker 1: deal of that, you know, top line number fourteen million

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Speaker 1: kind of how much of that actually makes it into

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Speaker 1: into into your pocket to actually to do with what

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Speaker 1: you want because that's a public number, and you said

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Speaker 1: the exactly fourteen million, but yeah, net to me is

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Speaker 1: usually around seven or eight um. And so being able

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Speaker 1: to be have great c p A s uh and

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Speaker 1: and be able to have an opportunity to understand that

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Speaker 1: I got that over the course of the year. And

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Speaker 1: as I mentioned W two's, I was able to use

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Speaker 1: other at ease. So we play Seattle, which is a

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Speaker 1: great state to to get packed out of because they

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Speaker 1: have no income state tax. Uh and then be able

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Speaker 1: to use Arizona. It was about four percent. Who else

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Speaker 1: do we play this year? That was on the road? Um,

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Speaker 1: I love it. You're gonna ask the NFL, can you

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Speaker 1: make our schedule to include only lope tax states now

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Speaker 1: that is sports? Go play in Vegas because that seems

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Speaker 1: like that's gonna work. Yeah. Miami was great to me,

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Speaker 1: to be honest with you, because there was no no

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Speaker 1: state income tax in Florida, Texas Texas, Tennessee. I would

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Speaker 1: be uh, Washington state with the Seattle uh. And then

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Speaker 1: you got the Oakland Raiders going to Nevada. So the

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Speaker 1: Nevada is going to be a great uh state. And

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Speaker 1: I believe there is one more. Um do we say

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Speaker 1: Tennessee already? Yes? Yes? Did did you take this into

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Speaker 1: account when you establish your principal residence? I? Did? And

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Speaker 1: where where is that? Where is your where do you?

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Speaker 1: Where is your principal residence? My principal residences? Texas? So

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Speaker 1: I have a house there and uh, there's a handful

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Speaker 1: of things that I take a bunch of visits, and

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Speaker 1: I got Stanley down there. Uh, and so yeah, it's uh,

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Speaker 1: it's a great state. I've always been out of Texas

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Speaker 1: except for when I was living in Florida. And as

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Speaker 1: you think about what team might be next for you

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Speaker 1: if it's not the Rams, how much do you kind

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Speaker 1: of weigh all these things? Right? Who's in the division

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Speaker 1: that I'm definitely gonna be playing From a tax perspective,

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Speaker 1: what's the what's the tax lect in the home state?

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Speaker 1: Is that something that kind of enters the calculus at all? Yeah,

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Speaker 1: for sure, It's always been a calculation ever since I

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Speaker 1: became a free agent in fourteen and something I considered,

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Speaker 1: but I think as we as I get into football

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Speaker 1: and being a little bit of an elders man, some

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Speaker 1: of those things get thrown out a little bit because,

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Speaker 1: as Mr Warren Bussett has always said, there's intrinsic value

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Speaker 1: in certain cities. So even though l A and in

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Speaker 1: the state of California is very high in taxes, there's

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Speaker 1: a lot of intrinsic value UH in that particular state

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Speaker 1: that I've enjoyed and being able to UH to lean

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Speaker 1: on so from mentors to great opportunities to connect with

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Speaker 1: people as I mentioned UH the Dodgers, being able to

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Speaker 1: meet with that ownership group and and folks from there

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Speaker 1: as well as L A F c uh in that

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Speaker 1: ownership group, which is a soccer team. I'm a huge

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Speaker 1: soccer fan, so being able to just connect with people

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Speaker 1: like that and other businessmen is some of that intrinsic

430
00:22:25,280 --> 00:22:27,320
Speaker 1: value that I say, I'll take a hit in taxes

431
00:22:27,560 --> 00:22:29,120
Speaker 1: to be able to have an opportunity to be close

432
00:22:29,160 --> 00:22:31,560
Speaker 1: to those people. Are we talking about Mark Walter and

433
00:22:31,600 --> 00:22:34,800
Speaker 1: Guggenheim or Magic Johnson, Because obviously Magic one of those

434
00:22:34,800 --> 00:22:38,160
Speaker 1: guys who came before, who clearly has established himself post

435
00:22:38,240 --> 00:22:42,680
Speaker 1: career in the business world. Uh, you're having your question

436
00:22:42,760 --> 00:22:45,920
Speaker 1: is about who I was connected to at at the doctors. Yeah. Yeah,

437
00:22:45,960 --> 00:22:48,200
Speaker 1: and and even now, by the way, I would think

438
00:22:48,280 --> 00:22:51,720
Speaker 1: that Lebron James, the Bus family, these are all folks

439
00:22:51,760 --> 00:22:55,040
Speaker 1: who add intrinsic value to anything you're doing. Oh yeah,

440
00:22:55,119 --> 00:22:57,240
Speaker 1: no question. Yeah, there's great people. And I've been able

441
00:22:57,280 --> 00:22:59,760
Speaker 1: to meet with Magic as well as there's some great

442
00:23:00,359 --> 00:23:03,000
Speaker 1: people by the name of a guy named Peter Goober

443
00:23:03,040 --> 00:23:05,359
Speaker 1: who's an amazing guy. He was a guest on the show.

444
00:23:05,840 --> 00:23:07,520
Speaker 1: We had Peter on the show. Not to but Peter,

445
00:23:07,920 --> 00:23:10,639
Speaker 1: I'm curious, do you take part of his philosophy or

446
00:23:10,720 --> 00:23:13,840
Speaker 1: so much with Peter is sort of about the mind

447
00:23:14,000 --> 00:23:17,320
Speaker 1: and the centeredness and the experience. It's it's for him.

448
00:23:17,359 --> 00:23:19,920
Speaker 1: It's not so much cold hard numbers. Yeah, yeah, for sure.

449
00:23:20,000 --> 00:23:23,080
Speaker 1: I mean I think that's what goes into being successful,

450
00:23:23,119 --> 00:23:26,240
Speaker 1: especially as the team owners, having great experiences and being

451
00:23:26,280 --> 00:23:29,480
Speaker 1: able to people to have amazing and enjoyment and be

452
00:23:29,560 --> 00:23:33,320
Speaker 1: able to present yourself. And he's been in the film business,

453
00:23:33,840 --> 00:23:36,359
Speaker 1: uh for a long period of time and had a

454
00:23:36,400 --> 00:23:39,480
Speaker 1: lot of success and We've had some amazing conversations at

455
00:23:39,520 --> 00:23:42,240
Speaker 1: his home in l a and I did not truly

456
00:23:42,320 --> 00:23:45,080
Speaker 1: cherish and I think I've been great helping hands for

457
00:23:45,080 --> 00:23:48,000
Speaker 1: for my success in this past year. We were very

458
00:23:48,080 --> 00:23:51,960
Speaker 1: lucky enough to have Shaquille O'Neal uh in studio. And

459
00:23:52,359 --> 00:23:56,320
Speaker 1: one of the things he said about investing is that

460
00:23:56,400 --> 00:24:00,679
Speaker 1: in the best advice he got was invest in something

461
00:24:00,800 --> 00:24:03,840
Speaker 1: that's going to be life changing. So when he invested

462
00:24:03,880 --> 00:24:07,160
Speaker 1: in Google, that turned out to be a home run

463
00:24:07,200 --> 00:24:10,479
Speaker 1: for him to give the you know, the sports, but

464
00:24:10,480 --> 00:24:14,520
Speaker 1: but do you agree with that? Yeah, I think there's

465
00:24:14,560 --> 00:24:18,360
Speaker 1: no question and investing in things that you believe will

466
00:24:18,400 --> 00:24:21,640
Speaker 1: be life changing, not only for yourself but also for others.

467
00:24:21,680 --> 00:24:24,520
Speaker 1: And I think that's why I've been able to invest

468
00:24:24,560 --> 00:24:27,919
Speaker 1: in some great companies and one probably most notably in

469
00:24:28,080 --> 00:24:31,840
Speaker 1: l ah that's below the radar, a company called this

470
00:24:32,240 --> 00:24:35,720
Speaker 1: This Bar Saves Lives And really where that's I think

471
00:24:35,800 --> 00:24:39,480
Speaker 1: his life changing is the ability for them to want

472
00:24:39,520 --> 00:24:43,640
Speaker 1: affect kids in a positive way with regard to malnutrition

473
00:24:43,720 --> 00:24:47,520
Speaker 1: because the bars that they sell UH, they actually turn

474
00:24:47,640 --> 00:24:51,080
Speaker 1: around in the percentage that goes back to malnutrition and

475
00:24:51,280 --> 00:24:55,080
Speaker 1: UH in third world countries between Africa and the islands

476
00:24:55,119 --> 00:25:00,320
Speaker 1: down down south of Miami and Florida, and it's in

477
00:25:00,440 --> 00:25:02,400
Speaker 1: the Caribbean, and it's been great to be a part

478
00:25:02,400 --> 00:25:04,919
Speaker 1: of that and do some cool things with them, especially

479
00:25:05,000 --> 00:25:07,439
Speaker 1: around the NFL when we have our our get that

480
00:25:07,960 --> 00:25:12,159
Speaker 1: opportunities with our our shoes that we were able to

481
00:25:12,200 --> 00:25:15,480
Speaker 1: do from from a charity perspective, UH, and give publicity

482
00:25:15,560 --> 00:25:19,000
Speaker 1: to that. So I think, without questions, Shack is right

483
00:25:19,040 --> 00:25:22,520
Speaker 1: about being able to do things that change change lives.

484
00:25:22,880 --> 00:25:24,919
Speaker 1: I feel like, aren't We're fifteen minutes and we've already

485
00:25:24,920 --> 00:25:28,360
Speaker 1: mentioned five or six different industries. You're you're a board

486
00:25:28,440 --> 00:25:31,000
Speaker 1: member at Balantine Strong, I believe the youngest board member

487
00:25:31,440 --> 00:25:34,959
Speaker 1: at that publicly traded company. How many different you know,

488
00:25:35,080 --> 00:25:38,760
Speaker 1: in investments, restaurants, real estate things are you in? Give

489
00:25:38,840 --> 00:25:40,440
Speaker 1: us a sense of just the scale of how many

490
00:25:40,440 --> 00:25:43,240
Speaker 1: different projects that that you're working on in addition to

491
00:25:43,240 --> 00:25:46,520
Speaker 1: to your football career. Yeah, time is time is of

492
00:25:46,560 --> 00:25:49,560
Speaker 1: the essence. And then I think time management is very

493
00:25:49,640 --> 00:25:52,920
Speaker 1: very important. And I've been very lucky, uh to have

494
00:25:53,520 --> 00:25:55,720
Speaker 1: great people to work with. But I've got a lot

495
00:25:55,800 --> 00:25:57,920
Speaker 1: on my plate which I enjoy and I think one

496
00:25:57,920 --> 00:26:00,080
Speaker 1: of the greatest things about it. What it does is

497
00:26:00,240 --> 00:26:03,200
Speaker 1: keep me very sharp. UM. And so I'd probably say

498
00:26:03,200 --> 00:26:07,080
Speaker 1: I worked with probably about five to ten companies on

499
00:26:07,119 --> 00:26:11,600
Speaker 1: a consistent basis. UH. And I actually just uh getting

500
00:26:11,640 --> 00:26:13,879
Speaker 1: ready to sign up with another company that's changing the

501
00:26:13,920 --> 00:26:17,240
Speaker 1: world in corporate catering and UH it's a big space

502
00:26:17,280 --> 00:26:19,080
Speaker 1: where I think there's a lot of people that are

503
00:26:19,119 --> 00:26:21,880
Speaker 1: going to be able to continue to grow and help

504
00:26:22,000 --> 00:26:26,320
Speaker 1: chefs get more flexibility and awareness of being able to

505
00:26:26,359 --> 00:26:29,000
Speaker 1: bring great food. And as we talked about doing things

506
00:26:29,000 --> 00:26:32,600
Speaker 1: to change and change people and health uh and eating well.

507
00:26:32,640 --> 00:26:35,640
Speaker 1: And I think that's gonna be a big piece. But UH,

508
00:26:35,640 --> 00:26:38,720
Speaker 1: with regards to keeping me sharp, I think being able

509
00:26:38,760 --> 00:26:41,560
Speaker 1: to take phone calls and and and have meetings and

510
00:26:41,720 --> 00:26:44,560
Speaker 1: on my off days, um and things of that nature.

511
00:26:44,600 --> 00:26:46,960
Speaker 1: It keeps me very sharp when I'm in season and

512
00:26:47,080 --> 00:26:49,240
Speaker 1: focused on football and I got my plan out of

513
00:26:49,240 --> 00:26:51,480
Speaker 1: power I'm going to study for football, but then also

514
00:26:51,560 --> 00:26:53,679
Speaker 1: have conference calls and being able to follow up and

515
00:26:53,680 --> 00:26:57,280
Speaker 1: connect dots with my companies that I'm working with. Obviously,

516
00:26:57,280 --> 00:27:00,040
Speaker 1: you're never gonna bat a thousand, you know, to a

517
00:27:00,160 --> 00:27:03,399
Speaker 1: mixed sports metaphors. Have there been investments you've made or

518
00:27:03,440 --> 00:27:05,679
Speaker 1: business decisions you've made that you know you regret it

519
00:27:05,760 --> 00:27:07,080
Speaker 1: or just don't don't pan out in the way that

520
00:27:07,119 --> 00:27:10,200
Speaker 1: you think they had. What's been the biggest mistake, we asked, Yeah,

521
00:27:10,400 --> 00:27:12,840
Speaker 1: I probably said the biggest mistake that I had was

522
00:27:13,119 --> 00:27:16,480
Speaker 1: a company that was before its time. Uh. And and

523
00:27:16,600 --> 00:27:19,440
Speaker 1: really I enjoyed it because it was a big learning

524
00:27:19,440 --> 00:27:21,960
Speaker 1: experience for me, and I think it broke down primarily

525
00:27:21,960 --> 00:27:24,520
Speaker 1: when I look back on it now, Uh, just from

526
00:27:24,520 --> 00:27:28,400
Speaker 1: a perspective of not having the right leadership team. And Uh,

527
00:27:28,520 --> 00:27:30,480
Speaker 1: like I said before, it was before it's time, But

528
00:27:30,520 --> 00:27:34,240
Speaker 1: it was very similar to a concept of Uninterrupted. Uh.

529
00:27:34,280 --> 00:27:37,359
Speaker 1: And it was just way too early for what it was.

530
00:27:37,440 --> 00:27:41,040
Speaker 1: And un Interrupted actually took over the space and it's

531
00:27:41,080 --> 00:27:43,440
Speaker 1: been very successful with it. But it was around athletes

532
00:27:43,480 --> 00:27:46,239
Speaker 1: being able to have their voices and the show what

533
00:27:46,280 --> 00:27:49,320
Speaker 1: they're they're doing around their their lives and be able

534
00:27:49,359 --> 00:27:53,160
Speaker 1: to have unfiltered, unbiased communication to the outside world. What

535
00:27:53,200 --> 00:27:56,960
Speaker 1: was it called? I'm drawn actually in blank on the

536
00:27:57,040 --> 00:28:02,160
Speaker 1: name of remember the lesson? Forget the name? It's okay, yeah, yeah, exactly.

537
00:28:02,280 --> 00:28:04,639
Speaker 1: And for those who don't know Uninterrupted, that's Lebron James's

538
00:28:05,080 --> 00:28:06,720
Speaker 1: media platform. But I want to close with this and

539
00:28:06,760 --> 00:28:09,880
Speaker 1: do because I'm fascinated with the Warren Buffett. I'm always

540
00:28:09,920 --> 00:28:12,520
Speaker 1: fascinated by just the relationship and what you take out

541
00:28:12,520 --> 00:28:16,640
Speaker 1: of it. So i want to see how close it is. Recently, Uh,

542
00:28:16,640 --> 00:28:19,240
Speaker 1: but Berkshire lost about four billion dollars in one day

543
00:28:19,280 --> 00:28:21,919
Speaker 1: on craft highs is do you, you know, pick up

544
00:28:21,920 --> 00:28:23,960
Speaker 1: the phone or send that email over to Warren and say, hey,

545
00:28:23,960 --> 00:28:28,600
Speaker 1: what's up buddy? You know I'm in on this with you. No,

546
00:28:28,800 --> 00:28:31,720
Speaker 1: there's there's definitely things that that that I've uh followed

547
00:28:31,760 --> 00:28:34,880
Speaker 1: the footsteps, but not not directly because of his instructions

548
00:28:34,960 --> 00:28:38,240
Speaker 1: or anything of that nature. But if you truly look

549
00:28:38,280 --> 00:28:41,360
Speaker 1: at it, and a lot of this lost that you've

550
00:28:41,400 --> 00:28:44,000
Speaker 1: seen is probably because of the Apple piece and his

551
00:28:44,200 --> 00:28:47,800
Speaker 1: and how much he owns of that company. But it's

552
00:28:47,840 --> 00:28:51,520
Speaker 1: just more so because it's just taking a small hit

553
00:28:51,880 --> 00:28:55,080
Speaker 1: but talking about that intrinsic value and being able to say,

554
00:28:55,160 --> 00:28:58,400
Speaker 1: all right, this company is still doing a great, amazing job.

555
00:28:58,480 --> 00:29:01,600
Speaker 1: And we understand sometime in the markets things get swayed

556
00:29:01,640 --> 00:29:05,200
Speaker 1: because of what people say in companies. I know Apple

557
00:29:05,240 --> 00:29:08,240
Speaker 1: made a decision not to h to release the number

558
00:29:08,240 --> 00:29:10,360
Speaker 1: of isolines that they're selling and things of that nature.

559
00:29:10,400 --> 00:29:12,760
Speaker 1: So that affects to stop, but that doesn't take the

560
00:29:13,160 --> 00:29:16,040
Speaker 1: great value that that company has in their their their

561
00:29:16,120 --> 00:29:18,840
Speaker 1: their ability to be very successful in the future. And

562
00:29:18,880 --> 00:29:21,280
Speaker 1: if you ever look at the markets and being able

563
00:29:21,320 --> 00:29:24,920
Speaker 1: to see the ability of how it's always moving up

564
00:29:24,960 --> 00:29:28,200
Speaker 1: into the right, but there's always gonna be dips and corrections,

565
00:29:28,200 --> 00:29:30,640
Speaker 1: which is which is healthy and what's needed in this world.

566
00:29:30,920 --> 00:29:33,840
Speaker 1: All right, Well, Dominican Sue Principal Residents Texas, speaking with

567
00:29:33,880 --> 00:29:37,240
Speaker 1: three morons living in high tech states. We thank you

568
00:29:37,320 --> 00:29:40,120
Speaker 1: very much for the time, oh man, and and I

569
00:29:40,160 --> 00:29:43,160
Speaker 1: am again I'm grateful. I'm a big fan of yours, man,

570
00:29:43,240 --> 00:29:46,240
Speaker 1: and thank you for talking with us. No, thank you

571
00:29:46,280 --> 00:29:47,800
Speaker 1: for having me. And it's a pleasure to talk to

572
00:29:47,840 --> 00:29:52,120
Speaker 1: you guys. Takeaways And I am so proud of Endomicon

573
00:29:52,240 --> 00:29:55,880
Speaker 1: Sue and his investment in the city of Detroit. Detroit

574
00:29:56,200 --> 00:29:59,920
Speaker 1: is on the rebound because of people like this who

575
00:30:00,040 --> 00:30:04,320
Speaker 1: are investing in my hometown, Motor City. I love the

576
00:30:04,360 --> 00:30:07,520
Speaker 1: you know, the dumb jock stereotype. I want those folks

577
00:30:07,560 --> 00:30:10,200
Speaker 1: to hang out with the Dominicans. Let me put brain

578
00:30:10,360 --> 00:30:13,000
Speaker 1: for brain up against those who throw that label out

579
00:30:13,000 --> 00:30:16,800
Speaker 1: there and having been in many, many locker rooms and

580
00:30:16,840 --> 00:30:20,720
Speaker 1: clubhouses over twenty plus years doing this. There are a

581
00:30:20,720 --> 00:30:25,440
Speaker 1: lot of very bright athletes. It's it's a stereotype. I

582
00:30:25,480 --> 00:30:29,840
Speaker 1: don't know why it still exists. The big profile mess

583
00:30:29,880 --> 00:30:32,200
Speaker 1: up since grew ups gets so much attention that that

584
00:30:32,200 --> 00:30:35,560
Speaker 1: that attaches to all. But this is the kind of

585
00:30:35,600 --> 00:30:39,600
Speaker 1: guy who was more pervasive around pro sports these days

586
00:30:39,880 --> 00:30:43,480
Speaker 1: than not. The Warren Buffett party friendship, to me encapsulates

587
00:30:43,480 --> 00:30:46,200
Speaker 1: all of that. Right. Warren Buffett was an honorary captain

588
00:30:46,280 --> 00:30:48,520
Speaker 1: at a at a corn Huskers game when Dominican was

589
00:30:48,520 --> 00:30:51,120
Speaker 1: a senior. There's one a hundred and twenty guys on

590
00:30:51,160 --> 00:30:54,000
Speaker 1: that team. Uh and I would venture to guess that

591
00:30:54,040 --> 00:30:56,240
Speaker 1: the only one who was still friendly with him is

592
00:30:56,280 --> 00:30:58,720
Speaker 1: a Dominican Sioux. Right. He he sought out, he understood

593
00:30:58,920 --> 00:31:02,400
Speaker 1: who Warren Buffett was, how tremendous a relationship, how fruitful

594
00:31:02,440 --> 00:31:04,440
Speaker 1: that could be if he started one? And yeah, over

595
00:31:04,480 --> 00:31:06,720
Speaker 1: time has continued to grow it. He owns shares in

596
00:31:06,760 --> 00:31:11,680
Speaker 1: Berkshire Hathaway plenty at the annual meetings in Omaha. Uh

597
00:31:11,720 --> 00:31:14,080
Speaker 1: And yeah, as he said, you know, that friendship has

598
00:31:14,080 --> 00:31:16,560
Speaker 1: opened up the door for other things. He's he's talking

599
00:31:16,560 --> 00:31:19,239
Speaker 1: in l A with Peter Goober and Magic Johnson. Right.

600
00:31:19,280 --> 00:31:22,440
Speaker 1: He's done a tremendous job of finding the people around

601
00:31:22,520 --> 00:31:24,600
Speaker 1: him who can be influential in his life, and it's

602
00:31:24,600 --> 00:31:29,640
Speaker 1: clearly been successful for him. It feels better to be

603
00:31:29,640 --> 00:31:31,560
Speaker 1: a number one than number five. I'll wear a number

604
00:31:31,560 --> 00:31:33,160
Speaker 1: because of Mike. We have a chance to go for

605
00:31:33,200 --> 00:31:34,880
Speaker 1: three in a row. Good numbers are a good time.

606
00:31:34,880 --> 00:31:37,000
Speaker 1: When let's first started wearing the number, how would just

607
00:31:37,040 --> 00:31:41,040
Speaker 1: have the floomberg business of sports? The number of the week.

608
00:31:42,200 --> 00:31:43,960
Speaker 1: I'm now for the number of the week. This one

609
00:31:44,160 --> 00:31:46,440
Speaker 1: is a grim one? Did I send this one too?

610
00:31:47,200 --> 00:31:50,360
Speaker 1: And I still don't remember what it was? Stories one?

611
00:31:51,120 --> 00:31:54,400
Speaker 1: This is grim one? Oh okay, now I remember. Yeah.

612
00:31:54,360 --> 00:31:56,360
Speaker 1: I'm gonna let you guess. Number not the number of

613
00:31:56,360 --> 00:31:59,200
Speaker 1: original Sports network outside of the Yes Network. How many

614
00:31:59,200 --> 00:32:01,560
Speaker 1: more losses that Lebron James has in his career than

615
00:32:01,600 --> 00:32:05,840
Speaker 1: Michael Jordan's. I don't know. But what if? What if? I?

616
00:32:05,880 --> 00:32:09,280
Speaker 1: What if I said? Racehorse? The amount of horses that

617
00:32:09,320 --> 00:32:11,400
Speaker 1: have been killed on the track at the Kentucky Derby.

618
00:32:12,360 --> 00:32:16,200
Speaker 1: Santa Anita, Santa Anita two months and two months and

619
00:32:16,280 --> 00:32:19,120
Speaker 1: two months and two months, so they've shut down racing,

620
00:32:19,280 --> 00:32:22,000
Speaker 1: glue factor and trying to figure out what's wrong with

621
00:32:22,040 --> 00:32:24,239
Speaker 1: the turf, like they think it's okay, but they had

622
00:32:24,240 --> 00:32:27,240
Speaker 1: a heavy rains. But twenty one horses have had to

623
00:32:27,280 --> 00:32:29,800
Speaker 1: be euthanized since the start of the season. Peter can't

624
00:32:29,840 --> 00:32:32,520
Speaker 1: be happy about them. No, and not at all. You're

625
00:32:32,560 --> 00:32:35,160
Speaker 1: listening to the Bloomberg Business of Sports and we are

626
00:32:35,200 --> 00:32:37,840
Speaker 1: here each and every week for you at the same time,

627
00:32:37,840 --> 00:32:40,440
Speaker 1: plus online as an Apple podcast and you can catch

628
00:32:40,480 --> 00:32:44,360
Speaker 1: that Monday's, Wednesdays and Thursdays. I'm MICHAELA Bar on Twitter

629
00:32:44,480 --> 00:32:47,280
Speaker 1: at Big Bar Sports, I'm Eben Novi, Williams at nov

630
00:32:47,480 --> 00:32:50,120
Speaker 1: Underscore Williams, and I'm Scott Sasnick. You can follow me

631
00:32:50,200 --> 00:32:52,400
Speaker 1: on Twitter at sash Nick. Thank you very much for

632
00:32:52,480 --> 00:32:54,880
Speaker 1: joining us. Please tune in next week when we speak

633
00:32:54,920 --> 00:32:57,520
Speaker 1: with the biggest and brightest in the sports business industry.

634
00:32:57,680 --> 00:33:00,320
Speaker 1: You're listening to Bloomberg Business of Sports from blue Berg

635
00:33:00,440 --> 00:33:02,080
Speaker 1: Radio around the world.