1 00:00:00,760 --> 00:00:03,360 Speaker 1: This is Bloomberg Business of Sports. 2 00:00:03,640 --> 00:00:06,160 Speaker 2: Everybody is into soccer, so it's not a case of 3 00:00:06,240 --> 00:00:08,800 Speaker 2: like building the game in ninety four. To me, the 4 00:00:08,920 --> 00:00:12,120 Speaker 2: metch have one of the most aggressive owners in all 5 00:00:12,160 --> 00:00:12,880 Speaker 2: of pro sports. 6 00:00:12,960 --> 00:00:15,360 Speaker 1: Women's sports has become much more high profile. There's been 7 00:00:15,360 --> 00:00:17,560 Speaker 1: a lot of focus on it. TV networks have made 8 00:00:17,600 --> 00:00:20,200 Speaker 1: a killing off college football and they will continue to 9 00:00:20,239 --> 00:00:22,200 Speaker 1: do that. You have a very motivated owner. 10 00:00:22,239 --> 00:00:25,680 Speaker 2: Which the Padres do, which the Phillies do, which the Yankees? 11 00:00:25,760 --> 00:00:26,160 Speaker 3: Do? 12 00:00:26,200 --> 00:00:29,280 Speaker 2: You spend? I think sports may be driving some of 13 00:00:29,320 --> 00:00:31,960 Speaker 2: these streaming services as they go forward. As a shelf 14 00:00:32,000 --> 00:00:34,199 Speaker 2: life to be internathlete, you have to figure out what 15 00:00:34,280 --> 00:00:35,120 Speaker 2: the bib is going to be. 16 00:00:35,280 --> 00:00:38,720 Speaker 1: Bloomberg Business of Sports from Bloomberg Radio. 17 00:00:39,400 --> 00:00:42,000 Speaker 4: This is the Bloomberg Business of Sports podcast where weeks 18 00:00:42,000 --> 00:00:44,080 Speaker 4: were the big money issues in the world of sports. 19 00:00:44,159 --> 00:00:46,320 Speaker 1: I'm Scarlett Folk and Don demiansas hour. 20 00:00:46,360 --> 00:00:48,480 Speaker 4: Michael barr is off for the week and we miss 21 00:00:48,560 --> 00:00:51,919 Speaker 4: him dearly. Now on the lineup today, Shaquille O'Neill. He's 22 00:00:51,960 --> 00:00:54,640 Speaker 4: not one of our guests, but he was served by 23 00:00:54,800 --> 00:00:58,680 Speaker 4: FTX crypto exchange users at one particular Miami Heat game 24 00:00:58,840 --> 00:01:02,840 Speaker 4: after somehow vading being served for months. That's on top 25 00:01:02,880 --> 00:01:06,399 Speaker 4: of his being sued over some unregistered Astrol crypto tokens 26 00:01:06,440 --> 00:01:08,759 Speaker 4: as well. We're going to speak with Bloomberg Laws Martina 27 00:01:08,800 --> 00:01:10,920 Speaker 4: Barrish on what the charges are, what this means for 28 00:01:10,959 --> 00:01:13,200 Speaker 4: Shaq and all his issues right now. 29 00:01:13,480 --> 00:01:15,960 Speaker 1: Plus we're going to be talking to Bloomberg's Randa Williams, 30 00:01:16,080 --> 00:01:19,400 Speaker 1: who joins the program to discuss Tom Brady's post retirement 31 00:01:19,440 --> 00:01:22,000 Speaker 1: life as he's now reaching an agreement Scarlett to become 32 00:01:22,000 --> 00:01:25,520 Speaker 1: a partner and equity owner in the Las Vegas raids. 33 00:01:25,760 --> 00:01:28,520 Speaker 4: That is straight ahead on the Bloomberg Business of Sports podcast. 34 00:01:28,800 --> 00:01:35,759 Speaker 4: But first, legal gambling is taking off in the US, 35 00:01:35,800 --> 00:01:38,800 Speaker 4: with more and more states legalizing and regulating sports betting 36 00:01:38,800 --> 00:01:42,399 Speaker 4: and damien. Even the classic casino gaming industry continues to thrive. 37 00:01:42,560 --> 00:01:45,959 Speaker 1: That's right, Scarlett. Commercial gaming revenue topped over sixty billion 38 00:01:46,040 --> 00:01:48,560 Speaker 1: last year. So joining us now to discuss the state 39 00:01:48,600 --> 00:01:51,120 Speaker 1: of the gaming industry is the President and CEO of 40 00:01:51,160 --> 00:01:54,120 Speaker 1: the American Gaming Association, Bill Miller. Bill, Welcome to the 41 00:01:54,120 --> 00:01:55,360 Speaker 1: Bloomberg Business of Sports. 42 00:01:55,520 --> 00:01:58,040 Speaker 2: Oh I'm so happened to be here with you guys. 43 00:01:58,120 --> 00:02:00,320 Speaker 4: It's been five years since the Supreme Court cleared the 44 00:02:00,360 --> 00:02:03,440 Speaker 4: way for states to legalize sports betting. Looking back, what 45 00:02:03,560 --> 00:02:06,520 Speaker 4: part of that decision and the impact surprised you the most. 46 00:02:06,640 --> 00:02:09,079 Speaker 2: Well, I think it was certainly monumental for the gaming industry. 47 00:02:09,120 --> 00:02:14,240 Speaker 2: It's transformed consumer entertainment, it's innovative the sports industry, and 48 00:02:14,520 --> 00:02:17,840 Speaker 2: I think it's given you know, people who had always 49 00:02:17,840 --> 00:02:19,760 Speaker 2: bet on sports an opportunity to do it in a 50 00:02:19,840 --> 00:02:20,320 Speaker 2: legal way. 51 00:02:20,400 --> 00:02:22,360 Speaker 4: But what surprised you about this? I mean, this is 52 00:02:22,360 --> 00:02:23,799 Speaker 4: something you could have said before it. 53 00:02:23,760 --> 00:02:28,120 Speaker 2: Passed, Well, you couldn't say they could bet legally other 54 00:02:28,160 --> 00:02:30,239 Speaker 2: than Nevada. And I think that that's the thing that 55 00:02:30,280 --> 00:02:34,320 Speaker 2: so many people miss is that this piece of federal 56 00:02:34,400 --> 00:02:38,960 Speaker 2: legislation it enacted and monopoly for the state of Nevada 57 00:02:39,160 --> 00:02:41,960 Speaker 2: against all other states, that it was the only place 58 00:02:41,960 --> 00:02:44,639 Speaker 2: in America where you could legally bet on sports. And so, look, 59 00:02:44,639 --> 00:02:46,679 Speaker 2: people have always been betting on sports, and we all 60 00:02:46,680 --> 00:02:49,959 Speaker 2: know that. And with Super Bowl and March Madness and 61 00:02:50,000 --> 00:02:53,040 Speaker 2: all the rest, now they actually have an opportunity to 62 00:02:53,120 --> 00:02:56,040 Speaker 2: bet legally. And so, to answer your question on what 63 00:02:56,240 --> 00:02:59,959 Speaker 2: surprised me most was the speed at which the state 64 00:03:00,440 --> 00:03:04,760 Speaker 2: moved to legal lot and thirty three states in DC 65 00:03:05,520 --> 00:03:09,040 Speaker 2: already up and operational. More than half of all American 66 00:03:09,080 --> 00:03:13,959 Speaker 2: adults live now in a legal sports betting market. It's remarkable. 67 00:03:14,160 --> 00:03:16,080 Speaker 1: Well, I mean, you mentioned it right there. Built thirty 68 00:03:16,080 --> 00:03:18,919 Speaker 1: three states plus Washington, d C. Now live in a 69 00:03:19,000 --> 00:03:22,080 Speaker 1: legal sports betting market. But the failure of Prop twenty 70 00:03:22,120 --> 00:03:25,000 Speaker 1: six and twenty seven back in November means California is 71 00:03:25,040 --> 00:03:28,239 Speaker 1: not one of them. So talk to us about the 72 00:03:28,320 --> 00:03:31,440 Speaker 1: nation's most populous state and why, I mean, what comes 73 00:03:31,440 --> 00:03:32,560 Speaker 1: next for California. 74 00:03:32,639 --> 00:03:36,680 Speaker 2: Well, I think that it was an unsatisfying result for 75 00:03:36,880 --> 00:03:39,000 Speaker 2: a lot of people who spent a lot of money 76 00:03:39,080 --> 00:03:42,760 Speaker 2: to move both of those propositions. But you know, I 77 00:03:42,760 --> 00:03:44,880 Speaker 2: think all the stakeholders go back to the drawing board, 78 00:03:45,040 --> 00:03:48,960 Speaker 2: and you know, certainly there are a lot of equities 79 00:03:49,000 --> 00:03:52,440 Speaker 2: involved in California, and California is not the only state. 80 00:03:52,560 --> 00:03:56,600 Speaker 2: We've got Texas, another gigantic state with no sports betting, 81 00:03:56,640 --> 00:03:59,720 Speaker 2: and Florida is stuck in the courts. And so you've 82 00:03:59,720 --> 00:04:03,560 Speaker 2: got really gigantic states that still have you yet to 83 00:04:03,680 --> 00:04:06,839 Speaker 2: figure out what the right pathway is. But I think 84 00:04:06,880 --> 00:04:10,200 Speaker 2: it was important what the Supreme Court said five years ago, 85 00:04:10,240 --> 00:04:12,800 Speaker 2: and that was that it's up to the states and 86 00:04:12,840 --> 00:04:16,359 Speaker 2: the individual stakeholders within the states to figure out what 87 00:04:16,440 --> 00:04:21,360 Speaker 2: sports betting looks like in that state. So, yeah, is 88 00:04:22,960 --> 00:04:26,560 Speaker 2: it slow in these three states? It might be, But honestly, 89 00:04:26,680 --> 00:04:29,040 Speaker 2: I've been spending most of my life in either government 90 00:04:29,160 --> 00:04:33,640 Speaker 2: or lobbying and advocacy work, and I've never seen anything 91 00:04:33,640 --> 00:04:36,520 Speaker 2: move quite as quickly as as thirty three states and 92 00:04:36,680 --> 00:04:39,320 Speaker 2: DC up and legal within five years. 93 00:04:39,520 --> 00:04:42,720 Speaker 4: What does that illegal betting look like down the road? 94 00:04:42,800 --> 00:04:46,000 Speaker 4: Now that sports gambling has been legalized in so many states, 95 00:04:46,160 --> 00:04:46,640 Speaker 4: we are. 96 00:04:46,520 --> 00:04:50,000 Speaker 2: Taking market share away from the illegal marketplace. And I 97 00:04:50,040 --> 00:04:54,640 Speaker 2: think that we've seen it in states where the markets 98 00:04:54,680 --> 00:04:58,159 Speaker 2: have become a little bit more mature. And again, maturity 99 00:04:58,240 --> 00:05:00,400 Speaker 2: is kind of in the eye of the behold, right, 100 00:05:00,480 --> 00:05:03,440 Speaker 2: So we're only five years into a legal marketplace. The 101 00:05:03,560 --> 00:05:08,600 Speaker 2: illegal market has decades of head start, specifically the online 102 00:05:08,720 --> 00:05:13,280 Speaker 2: offshore marketplace. So look, nobody's going to go after you know. 103 00:05:13,400 --> 00:05:17,440 Speaker 2: No one is suggesting that Super Bowl squares or March 104 00:05:17,480 --> 00:05:20,400 Speaker 2: Madness office schools are going to go away, but it 105 00:05:20,520 --> 00:05:25,159 Speaker 2: is clear that from our perspective, we have moved sports 106 00:05:25,240 --> 00:05:29,320 Speaker 2: betters who have been betting in the illegal market, either 107 00:05:29,400 --> 00:05:35,400 Speaker 2: with local bookies or with offshore websites that may or 108 00:05:35,400 --> 00:05:37,880 Speaker 2: may not pay you when you win to the legal, 109 00:05:37,960 --> 00:05:40,640 Speaker 2: regular market, and then we think that that's a really 110 00:05:40,680 --> 00:05:41,840 Speaker 2: really important development. 111 00:05:42,040 --> 00:05:43,240 Speaker 1: You know, I was just looking at your State of 112 00:05:43,320 --> 00:05:46,440 Speaker 1: States report, thirteen point five billion of tax revenue for 113 00:05:46,480 --> 00:05:48,760 Speaker 1: state and local governments. What are you seeing? What trends 114 00:05:48,800 --> 00:05:49,960 Speaker 1: are you seeing at the state level? 115 00:05:50,080 --> 00:05:51,440 Speaker 2: Well, I think the thing that you see in the 116 00:05:51,440 --> 00:05:56,440 Speaker 2: state level is mostly related to population. And so when 117 00:05:56,440 --> 00:05:58,920 Speaker 2: you see a big state come on board like New 118 00:05:59,000 --> 00:06:02,440 Speaker 2: York did last year or kind of December January, you 119 00:06:02,560 --> 00:06:06,840 Speaker 2: saw a pretty big spike in sports betting. I mean 120 00:06:06,880 --> 00:06:08,400 Speaker 2: we used to look at it all the time, and 121 00:06:09,320 --> 00:06:12,800 Speaker 2: it was remarkable when New Jersey was live with sports 122 00:06:12,800 --> 00:06:17,160 Speaker 2: betting in New York. Wasn't the geolocation which is key 123 00:06:17,320 --> 00:06:20,440 Speaker 2: and really critical to this. You could literally see the 124 00:06:20,520 --> 00:06:24,520 Speaker 2: pins of people that would apps would be not operational 125 00:06:24,680 --> 00:06:27,839 Speaker 2: in New York, but they'd take the path train over 126 00:06:27,880 --> 00:06:30,719 Speaker 2: to Hoboken or something and literally not go to a 127 00:06:30,760 --> 00:06:34,000 Speaker 2: sports book, but go to a sports bar so they 128 00:06:34,000 --> 00:06:37,280 Speaker 2: could bet on sports. And so we saw when New 129 00:06:37,400 --> 00:06:43,120 Speaker 2: York went live that migration of little pin drops stopped, 130 00:06:43,279 --> 00:06:46,600 Speaker 2: and so you really have seen you know, I think 131 00:06:46,640 --> 00:06:49,120 Speaker 2: New York's probably the best example of a new state 132 00:06:49,200 --> 00:06:52,000 Speaker 2: that came on that really made a big splash. I 133 00:06:52,040 --> 00:06:56,440 Speaker 2: think the most important thing from our perspective is that 134 00:06:56,520 --> 00:07:00,000 Speaker 2: we're moving people from the illegal market into the legal market, 135 00:07:00,040 --> 00:07:00,840 Speaker 2: and that's the best thing. 136 00:07:01,200 --> 00:07:04,400 Speaker 4: With the gaming industry growing legal sports betting, there's a 137 00:07:04,400 --> 00:07:06,560 Speaker 4: lot of questions about making sure that we do so 138 00:07:06,600 --> 00:07:09,400 Speaker 4: in a responsible way in addressing problem gambling. Have you 139 00:07:09,480 --> 00:07:13,200 Speaker 4: seen programs and the development of programs to address addiction 140 00:07:13,400 --> 00:07:16,360 Speaker 4: move as quickly as the states have moved to Just 141 00:07:16,440 --> 00:07:18,480 Speaker 4: make sure that it's accessible to everyone, I do. 142 00:07:18,560 --> 00:07:22,560 Speaker 2: I think that the gaming industry, specifically the regulated gaming industry, 143 00:07:22,840 --> 00:07:27,640 Speaker 2: has a long standing commitment to responsible gaming and problem gambling, 144 00:07:27,800 --> 00:07:31,240 Speaker 2: and so it's not new to us in this industry. 145 00:07:31,560 --> 00:07:34,440 Speaker 2: Sports betting came in. We wanted to make sure that, 146 00:07:34,680 --> 00:07:38,280 Speaker 2: in the same way that the general public views gaming 147 00:07:38,360 --> 00:07:42,280 Speaker 2: in general, that they viewed sports betting as another option 148 00:07:42,880 --> 00:07:46,520 Speaker 2: that has our g components within it, and so we 149 00:07:46,680 --> 00:07:50,040 Speaker 2: have been very active as the American Gaming Association helping 150 00:07:50,080 --> 00:07:55,200 Speaker 2: to educate legislators and regulators, but then also our member companies. 151 00:07:55,960 --> 00:07:58,520 Speaker 2: They already have a code of conduct that they operate 152 00:07:58,640 --> 00:08:01,960 Speaker 2: with as part of the AGA but also as part 153 00:08:01,960 --> 00:08:02,679 Speaker 2: of their license. 154 00:08:02,920 --> 00:08:04,560 Speaker 1: Well, well, you know, I'm curious, you know, and I 155 00:08:04,560 --> 00:08:06,440 Speaker 1: think of the gaming industry. I think of it as 156 00:08:06,440 --> 00:08:09,280 Speaker 1: more of, I don't know, a defensive sector, you know, 157 00:08:09,360 --> 00:08:13,400 Speaker 1: that is relatively inelastic, you know, to the business cycle. Right, 158 00:08:13,440 --> 00:08:15,520 Speaker 1: I'm thinking tobacco or alcohol, I mean, not a you 159 00:08:15,560 --> 00:08:18,080 Speaker 1: know group you know, gaming together with that. But you know, 160 00:08:18,120 --> 00:08:21,040 Speaker 1: my question is what are your expectations for the industry 161 00:08:21,120 --> 00:08:23,000 Speaker 1: if the U S lips into recession later this year. 162 00:08:24,440 --> 00:08:27,080 Speaker 2: Well, I think that, you know, I kind of tend 163 00:08:27,120 --> 00:08:31,000 Speaker 2: to think of us more less in the construct that 164 00:08:31,040 --> 00:08:33,640 Speaker 2: you put, but more in the travel and leisure space. 165 00:08:34,120 --> 00:08:38,160 Speaker 2: And look, just as as people are more concerned about 166 00:08:38,440 --> 00:08:42,720 Speaker 2: their financial well being, there's certainly some that creates some 167 00:08:42,840 --> 00:08:46,360 Speaker 2: headwinds for everybody in the in the travel, leisure and 168 00:08:46,400 --> 00:08:51,760 Speaker 2: hospitality space. And so I think that we have seen 169 00:08:52,840 --> 00:08:58,199 Speaker 2: resilience in our industry despite kind of these uh you know, 170 00:08:58,360 --> 00:09:02,760 Speaker 2: gloomy forecasts about recession. But so far, so good. 171 00:09:03,520 --> 00:09:05,520 Speaker 1: So I mean, guess my last question then, is Bill, 172 00:09:05,559 --> 00:09:07,120 Speaker 1: I mean, what are you most excited about. I mean, 173 00:09:07,200 --> 00:09:09,480 Speaker 1: is it this this wave of sports, you know, betting 174 00:09:09,480 --> 00:09:11,880 Speaker 1: that's taken out or is it is it is it 175 00:09:12,679 --> 00:09:16,679 Speaker 1: technological innovation in slots and table games and eye gaming. 176 00:09:16,720 --> 00:09:19,120 Speaker 1: I mean, when you think about the industry writ large, 177 00:09:19,160 --> 00:09:21,000 Speaker 1: you know what gets you most excited about its future? 178 00:09:22,120 --> 00:09:24,320 Speaker 2: Well, I think that it's one of the great things 179 00:09:24,320 --> 00:09:27,599 Speaker 2: about the gaming industry is it's continuing to evolve and 180 00:09:27,640 --> 00:09:32,040 Speaker 2: and you see that from you know, how the industry 181 00:09:32,120 --> 00:09:36,880 Speaker 2: navigated COVID. You know, there were at some points in time, 182 00:09:37,360 --> 00:09:41,880 Speaker 2: great debates within the industry about, uh, you know, what 183 00:09:41,920 --> 00:09:44,560 Speaker 2: does digital mean for the future of brick and mortar. 184 00:09:44,640 --> 00:09:47,320 Speaker 2: We've seen in other industry certainly, and I think that 185 00:09:47,640 --> 00:09:51,160 Speaker 2: what we saw in our industry is there's an opportunity 186 00:09:51,200 --> 00:09:56,760 Speaker 2: to create an omni channel dynamic for consumers. Whereby in 187 00:09:56,840 --> 00:09:59,240 Speaker 2: COVID it was a lifeline because all of the casinos 188 00:09:59,280 --> 00:10:02,640 Speaker 2: were closed, but when the casinos reopened, it gave an 189 00:10:02,679 --> 00:10:07,280 Speaker 2: opportunity to chase in different demographic with regard to new 190 00:10:07,320 --> 00:10:10,800 Speaker 2: customers and also keep customers who are used to doing 191 00:10:11,240 --> 00:10:15,640 Speaker 2: doing things on their phones or mobile but still want 192 00:10:15,720 --> 00:10:19,280 Speaker 2: to have the unique experience that is offered it by 193 00:10:19,800 --> 00:10:22,640 Speaker 2: going on property and being on the casino floor. 194 00:10:23,160 --> 00:10:25,679 Speaker 4: Bill really appreciate your joining us. Thank you so much 195 00:10:25,720 --> 00:10:26,680 Speaker 4: for sharing your thoughts. 196 00:10:27,080 --> 00:10:28,720 Speaker 2: No, thank you guys so much for having me. 197 00:10:28,760 --> 00:10:32,040 Speaker 4: Bill Miller's president and CEO of the American Gaming Association, 198 00:10:32,520 --> 00:10:34,959 Speaker 4: talking about the five year anniversary of the Supreme Court 199 00:10:35,040 --> 00:10:38,600 Speaker 4: ruling that basically legalized gambling sports betting in the US. 200 00:10:38,480 --> 00:10:41,080 Speaker 1: Two hundred and sixty one billion dollar casino industry. 201 00:10:41,160 --> 00:10:44,400 Speaker 4: Unbelievable real numbers. Up next on the show, Shaquille O'Neil 202 00:10:44,520 --> 00:10:48,160 Speaker 4: in some hot legal water after selling some unregistered NFTs. 203 00:10:48,600 --> 00:10:51,120 Speaker 4: We speak with Bloomberg Laws Martina Barrish on what this 204 00:10:51,200 --> 00:10:54,000 Speaker 4: all means. That is straight ahead. I'm Bloomberg Business of Sports. 205 00:10:54,040 --> 00:10:57,199 Speaker 4: I'm Scarlett Foo here with Damian Sassar. This is Bloomberg. 206 00:11:02,080 --> 00:11:06,400 Speaker 1: This is Bloomberg Business of Sports from Bloomberg Radio. 207 00:11:07,360 --> 00:11:10,120 Speaker 4: Welcome back to the Bloomberg Business of Sports podcast, where 208 00:11:10,160 --> 00:11:12,360 Speaker 4: we explore the big money issues in the world of sports. 209 00:11:12,480 --> 00:11:14,520 Speaker 1: I'm Scarlet Food and I'm Damien sas Hour. 210 00:11:14,720 --> 00:11:18,040 Speaker 4: Damien, it's been a while since FTX collapsed, but you 211 00:11:18,120 --> 00:11:21,320 Speaker 4: remember when you know it was around how many star 212 00:11:21,440 --> 00:11:23,160 Speaker 4: athletes were part of the branding? 213 00:11:23,200 --> 00:11:25,280 Speaker 1: Oh, I remember Sam bankman Fried had all of them 214 00:11:25,320 --> 00:11:27,240 Speaker 1: down in the Bahamas at its placed. If I'm not mistaken. 215 00:11:27,240 --> 00:11:30,800 Speaker 1: We're talking Tom Brady, We're talking Shaquil O'Neil, Steph Curry, 216 00:11:31,160 --> 00:11:32,880 Speaker 1: a whole gamut of multimillionaires. 217 00:11:33,040 --> 00:11:35,960 Speaker 4: Yeah, some colorful commercials during a certain Super Bowl if 218 00:11:36,000 --> 00:11:37,679 Speaker 4: I remember correctly, Hey. 219 00:11:37,440 --> 00:11:39,840 Speaker 2: You're Shequila now and I'm excited to be partnering with 220 00:11:40,040 --> 00:11:41,200 Speaker 2: FTX to help make. 221 00:11:41,080 --> 00:11:44,600 Speaker 1: Crypto accessible for everyone. I'm all in, are you? This 222 00:11:44,760 --> 00:11:48,760 Speaker 1: is Steph Curry, the world's leading expert on cryptocurrency. I'm 223 00:11:48,760 --> 00:11:52,040 Speaker 1: not with FTX. I have everything I need to buy, sell, 224 00:11:52,080 --> 00:11:55,040 Speaker 1: and trade crypto safely. I'm getting into crypto with FTX. 225 00:11:55,040 --> 00:11:55,280 Speaker 2: You r. 226 00:11:55,360 --> 00:11:57,280 Speaker 1: I believe I'm in, but still hate you. You're getting 227 00:11:57,280 --> 00:12:03,560 Speaker 1: into crypto we FDx, Stephen thalmart In, Oh, I mean, man, 228 00:12:03,600 --> 00:12:06,679 Speaker 1: oh Man, Scarlett. I mean we're talking Shaq. We're talking 229 00:12:06,720 --> 00:12:10,440 Speaker 1: Steph Curry, We're talking Tom Brady, David Ortiz, all featured here. 230 00:12:10,800 --> 00:12:13,679 Speaker 1: And the legal issues are only starting to mount for 231 00:12:13,760 --> 00:12:17,160 Speaker 1: some of our favorite athletes, particularly one basketball star who 232 00:12:17,280 --> 00:12:19,400 Speaker 1: just so happens to be seven feet two inches tall. 233 00:12:20,679 --> 00:12:23,680 Speaker 1: One may argue the TV commercial king even Shaquille O'Neal. 234 00:12:23,840 --> 00:12:26,920 Speaker 4: So joining us now to discuss Shaq's current legal issues 235 00:12:26,960 --> 00:12:30,400 Speaker 4: is Bloomberg law reporter Martina Barrish. Martina, welcome to the show, 236 00:12:30,400 --> 00:12:32,600 Speaker 4: Thanks Garlett. So tell us a little bit about Shaquille 237 00:12:32,559 --> 00:12:35,280 Speaker 4: O'Neal's involvement here with FTX. We know he's one of 238 00:12:35,320 --> 00:12:37,360 Speaker 4: the big celebrities involved, but in. 239 00:12:37,280 --> 00:12:41,920 Speaker 3: What way he allegedly promoted fts According to the complaint, 240 00:12:42,000 --> 00:12:45,640 Speaker 3: he did it in connection with his Shack's funhouse events. 241 00:12:45,960 --> 00:12:50,160 Speaker 3: In February twenty twenty two, he announced a partnership with 242 00:12:50,280 --> 00:12:54,280 Speaker 3: them and step similar to the allegations against some of 243 00:12:54,280 --> 00:12:57,280 Speaker 3: the other celebrities. And this was all in a lawsuit 244 00:12:57,360 --> 00:13:01,199 Speaker 3: that came out just after the collapse of ft last November. 245 00:13:01,520 --> 00:13:07,559 Speaker 3: You know, these celebrities allegedly promoted FTX on their various 246 00:13:07,559 --> 00:13:12,040 Speaker 3: social media platforms and through their fashion or sports networks, 247 00:13:12,080 --> 00:13:13,720 Speaker 3: and you know, using their star power. 248 00:13:13,880 --> 00:13:15,960 Speaker 1: Martina, I wonder if you could help me understand this 249 00:13:16,000 --> 00:13:19,200 Speaker 1: a little bit better. I mean, we hear about Steph Curry, 250 00:13:19,280 --> 00:13:22,120 Speaker 1: we hear about Tom Brady, Shaquille O'Neil, all these names 251 00:13:22,480 --> 00:13:26,160 Speaker 1: that have been ensnared in the FTX you know sort 252 00:13:26,200 --> 00:13:29,600 Speaker 1: of controversy here. Has anyone been able to I mean, 253 00:13:29,640 --> 00:13:31,559 Speaker 1: you're a legal expert, you know, what do you look 254 00:13:31,640 --> 00:13:34,760 Speaker 1: for as a comp if you're trying to determine potential 255 00:13:34,960 --> 00:13:38,319 Speaker 1: damages monetary damages, punitive damages, I mean, what kind of 256 00:13:38,400 --> 00:13:40,440 Speaker 1: numbers could that be? I mean, these are multi multi 257 00:13:40,480 --> 00:13:41,880 Speaker 1: millionaires we're talking here. 258 00:13:41,800 --> 00:13:44,400 Speaker 3: Right, and they're the ones with money. They're the deep 259 00:13:44,440 --> 00:13:49,360 Speaker 3: pockets here. Because FTX is bankruptcy there, it's not clear 260 00:13:49,720 --> 00:13:53,199 Speaker 3: how much investors will be able to get out of FPX. 261 00:13:53,640 --> 00:13:56,360 Speaker 3: Let's take punitive damages off the table for the moment, 262 00:13:56,440 --> 00:14:01,040 Speaker 3: because many of these plans are maturities claims that don't 263 00:14:01,040 --> 00:14:05,720 Speaker 3: necessarily involve unitive vantages. But the numbers are certainly big, 264 00:14:06,200 --> 00:14:09,760 Speaker 3: and from a legal perspective, the big legal question is 265 00:14:09,840 --> 00:14:14,400 Speaker 3: whether these tokens and yield bearing accounts are securities. The 266 00:14:14,600 --> 00:14:19,480 Speaker 3: SEC says tokens are securities. There was one court opinion 267 00:14:20,080 --> 00:14:24,320 Speaker 3: in the early stages of a case saying yes they were, 268 00:14:24,600 --> 00:14:28,160 Speaker 3: and the case settled. A couple other settlements happened, and 269 00:14:28,240 --> 00:14:31,560 Speaker 3: now there are about three big cases pending on that question, 270 00:14:32,640 --> 00:14:36,520 Speaker 3: and two of them at least involves non fungetible tokens 271 00:14:36,880 --> 00:14:40,600 Speaker 3: for what that's worth, which is the other suit. Shaquille 272 00:14:40,600 --> 00:14:45,520 Speaker 3: O'Neil has been ensnared in, but going back to FTX, 273 00:14:45,720 --> 00:14:49,000 Speaker 3: leaving aside the big question of whether whether securities are 274 00:14:49,000 --> 00:14:52,520 Speaker 3: at issue at all. Some of the claims that the 275 00:14:52,560 --> 00:14:57,440 Speaker 3: planets are bringing the investors or the people who bought 276 00:14:57,560 --> 00:14:59,960 Speaker 3: digital assets and are trying to get their money back, 277 00:15:00,480 --> 00:15:04,320 Speaker 3: they say some of the claims they bring, uh may 278 00:15:04,400 --> 00:15:10,160 Speaker 3: not require intent to defraud. So celebrities may may say, 279 00:15:10,200 --> 00:15:11,680 Speaker 3: you know, we're just gonna. 280 00:15:11,400 --> 00:15:12,960 Speaker 1: Pay, We're just going to pay to make this go away. 281 00:15:12,960 --> 00:15:15,200 Speaker 1: I mean, it sounds I mean, I'm trying to cut 282 00:15:15,240 --> 00:15:17,040 Speaker 1: you off, Martina, But I mean, is that that's exactly 283 00:15:17,080 --> 00:15:20,080 Speaker 1: where I'm trying to go here? I mean, is Adam Moskowitz, 284 00:15:20,320 --> 00:15:23,080 Speaker 1: you know, the representative for the plaintiffs, just trying to 285 00:15:23,280 --> 00:15:26,280 Speaker 1: extract whatever pounds of flesh he can on behalf of 286 00:15:26,280 --> 00:15:29,520 Speaker 1: his clients because he knows that these are deep pocketed 287 00:15:29,680 --> 00:15:32,640 Speaker 1: You know that these are deep pocketed players who are involved. 288 00:15:32,760 --> 00:15:35,760 Speaker 1: Or is there a real legal merit to the case. 289 00:15:36,400 --> 00:15:41,080 Speaker 3: Well, I think both those can be true, right. The 290 00:15:41,640 --> 00:15:47,400 Speaker 3: legal merit mainly hinges on courts some factual questions. I'm 291 00:15:47,440 --> 00:15:50,640 Speaker 3: sure you can have arguments about what promotion is and 292 00:15:50,800 --> 00:15:53,120 Speaker 3: isn't you know what people's intent was, But the big 293 00:15:53,200 --> 00:15:56,840 Speaker 3: legal question is whether they're security is and that's that's 294 00:15:56,840 --> 00:15:57,880 Speaker 3: a legitimate question. 295 00:15:58,240 --> 00:15:58,480 Speaker 5: Yeah. 296 00:15:58,560 --> 00:16:01,560 Speaker 4: I think what's so fascinating way Shaquille O'Neill's involvement in 297 00:16:01,600 --> 00:16:05,080 Speaker 4: this lawsuit, Damien, is the fact that for months he 298 00:16:05,160 --> 00:16:07,320 Speaker 4: refused to be served. And I don't know how a 299 00:16:07,360 --> 00:16:11,320 Speaker 4: celebrity who is difficult to miss can refuse being served 300 00:16:11,360 --> 00:16:13,200 Speaker 4: for so long. I mean, the stories that have been 301 00:16:13,240 --> 00:16:16,800 Speaker 4: written up about how he evaded being served are amazing. 302 00:16:16,880 --> 00:16:18,960 Speaker 1: Yeah. Well, I mean that's exactly right. And Scarlet, I 303 00:16:18,960 --> 00:16:20,680 Speaker 1: mean just last night at the Heat Celtics game a 304 00:16:20,720 --> 00:16:23,760 Speaker 1: few nights ago, you know, that's when Moskwoitz's law firm 305 00:16:23,840 --> 00:16:26,160 Speaker 1: actually had to hand him papers and I believe whoever 306 00:16:26,240 --> 00:16:29,800 Speaker 1: did that was forcibly removed from the game, right, So 307 00:16:30,200 --> 00:16:32,760 Speaker 1: you know, that's the amazing thing. And you know, I mean, Martina, 308 00:16:32,840 --> 00:16:35,360 Speaker 1: that's what I find so fascinating here is you know, 309 00:16:35,400 --> 00:16:37,800 Speaker 1: Tom Brady, Steph Curry, they'd all been served, you know, 310 00:16:37,960 --> 00:16:42,880 Speaker 1: and it seems that representatives for Shaquille O'Neal were claiming 311 00:16:43,320 --> 00:16:46,240 Speaker 1: that you missed your window to serve me papers, and 312 00:16:46,280 --> 00:16:48,680 Speaker 1: so you can't serve me now, does that sound about right? 313 00:16:49,080 --> 00:16:51,640 Speaker 3: Yeah? Well, you know, we are seeing some early fights. 314 00:16:51,640 --> 00:16:53,800 Speaker 3: It's certainly unusual to do that. I don't know what 315 00:16:53,840 --> 00:17:00,120 Speaker 3: his strategy was because he is pretty servable as he Yah. 316 00:17:00,040 --> 00:17:01,960 Speaker 1: It's hard seven observability. 317 00:17:04,400 --> 00:17:07,240 Speaker 3: Uh, you know, we're seeing some of these early fights. 318 00:17:07,600 --> 00:17:12,000 Speaker 3: There's another one over discovery or the exchange of documents 319 00:17:12,680 --> 00:17:16,840 Speaker 3: that was brought by not not just by Shaquille, but 320 00:17:16,960 --> 00:17:21,640 Speaker 3: by many of the other athletes and celebrities, saying that 321 00:17:21,960 --> 00:17:26,840 Speaker 3: until the court has ruled on their requests for dismissal, 322 00:17:27,400 --> 00:17:30,960 Speaker 3: that there should be no requirement for them to turn 323 00:17:31,000 --> 00:17:35,280 Speaker 3: over documents. And you know what's what's in those documents, 324 00:17:35,359 --> 00:17:39,080 Speaker 3: you know, I mean necessarily reasonable and normal requests to 325 00:17:39,119 --> 00:17:41,640 Speaker 3: make a book court. But on the other hand, they're 326 00:17:41,680 --> 00:17:45,720 Speaker 3: showing plaintiffs and uh, you know, the investors and maybe 327 00:17:46,600 --> 00:17:48,560 Speaker 3: the government as well, that they're willing to fight. 328 00:17:49,440 --> 00:17:53,439 Speaker 4: Yeah, Martina really appreciate you joining us. Martina Barrish is 329 00:17:53,680 --> 00:17:57,760 Speaker 4: with Bloomberg Law and Damien. There's another fun fact here 330 00:17:57,840 --> 00:18:01,360 Speaker 4: in this story of how FDx CAUs sought to serve Shaquille. 331 00:18:01,359 --> 00:18:03,679 Speaker 4: They tried to do it or they thought maybe they 332 00:18:03,680 --> 00:18:06,399 Speaker 4: could do it through Instagram or Twitter, because he was 333 00:18:06,400 --> 00:18:09,679 Speaker 4: not acknowledging receipt of the complaint after multiple months of 334 00:18:10,040 --> 00:18:12,919 Speaker 4: people trying to serve him in failing, but the judge 335 00:18:13,080 --> 00:18:15,199 Speaker 4: said no to that possiblity. Okay, you can't serve him 336 00:18:15,200 --> 00:18:16,080 Speaker 4: through Instagram or Twitter. 337 00:18:16,119 --> 00:18:17,920 Speaker 1: It amazing, it's amazing. We live in a world where 338 00:18:18,000 --> 00:18:20,959 Speaker 1: you know, you still have to physically serve someone papers 339 00:18:20,960 --> 00:18:23,360 Speaker 1: and in this digital world that we live in, it's 340 00:18:23,400 --> 00:18:23,879 Speaker 1: just amazing. 341 00:18:23,920 --> 00:18:25,760 Speaker 4: Just think, if you're Shaquille o oneal, you probably didn't 342 00:18:25,840 --> 00:18:30,840 Speaker 4: order food right, like you did not order delivery months right, 343 00:18:30,960 --> 00:18:33,320 Speaker 4: exactly months because who knows who would like end up 344 00:18:33,320 --> 00:18:34,000 Speaker 4: bringing your doorbell. 345 00:18:34,640 --> 00:18:35,600 Speaker 1: It's really unbelievable. 346 00:18:35,840 --> 00:18:37,600 Speaker 4: Like you can't come face to face with anyone you 347 00:18:37,640 --> 00:18:38,000 Speaker 4: don't know. 348 00:18:38,280 --> 00:18:39,840 Speaker 1: Well, I mean, the one thing you can you can 349 00:18:39,880 --> 00:18:41,720 Speaker 1: be assured of is you know, if they're serving the 350 00:18:41,760 --> 00:18:44,800 Speaker 1: seven foot two giant like Shaquille O'Neal papers at the 351 00:18:44,840 --> 00:18:48,000 Speaker 1: playoff game. I hope you didn't plan on watching the game. 352 00:18:48,080 --> 00:18:51,440 Speaker 4: Oh god, well that didn't happen. So thank you, Martina, 353 00:18:51,640 --> 00:18:54,240 Speaker 4: thank you very much. Up next, we speak with Bloomberg's 354 00:18:54,280 --> 00:18:57,720 Speaker 4: Randall Williams on Tom Brady's latest involvement with the NFL's 355 00:18:57,800 --> 00:19:01,000 Speaker 4: Las Vegas Raiders. That is straight ahead. I'm Scarlet Foo. 356 00:19:00,960 --> 00:19:04,359 Speaker 1: And I'm Damian sas Hour. You're listening to Bloomberg Business 357 00:19:04,359 --> 00:19:13,119 Speaker 1: of Sports from Bloomberg Radio. Around the world is Bloomberg 358 00:19:13,280 --> 00:19:15,800 Speaker 1: Business of Sports from Bloomberg Radio. 359 00:19:17,160 --> 00:19:19,960 Speaker 4: Welcome back to the Bloomberg Business of Sports podcast, where 360 00:19:19,960 --> 00:19:22,160 Speaker 4: we explore the big money issues in the world of sports. 361 00:19:22,240 --> 00:19:24,320 Speaker 1: I'm Scarlet Food and I'm Damien sas Hour. 362 00:19:24,640 --> 00:19:27,920 Speaker 4: So Damien. It's been a while since NFL legend Tom 363 00:19:27,960 --> 00:19:31,560 Speaker 4: Brady decided to hang up his cleats and become just 364 00:19:31,600 --> 00:19:34,160 Speaker 4: a regular civilian. But now he's back in the game. 365 00:19:34,320 --> 00:19:37,080 Speaker 4: We think, right, he's going to be a minority owner 366 00:19:37,080 --> 00:19:40,280 Speaker 4: of the Las Vegas Raiders if everything goes according to plan. 367 00:19:40,440 --> 00:19:42,720 Speaker 1: Yeah. No, So joining us now is Tom Brady himself now, 368 00:19:42,720 --> 00:19:46,320 Speaker 1: I'm just kidding. Joining us now is Bloomberg US sports 369 00:19:46,400 --> 00:19:50,479 Speaker 1: reporter Randall Williams. Randall, Welcome to the Bloomberg Business Sports. 370 00:19:50,560 --> 00:19:52,760 Speaker 1: Happy to be here. Well, talk to us a little 371 00:19:52,760 --> 00:19:55,760 Speaker 1: bit about where you were last week. Talk to us 372 00:19:55,800 --> 00:19:58,400 Speaker 1: about La Bro, Talk to us about the NFL Rookie Week. 373 00:19:58,440 --> 00:19:58,879 Speaker 1: What went on? 374 00:19:59,119 --> 00:20:02,560 Speaker 6: Sure the nflp Rookie Premiere. It's presented by Panini. So 375 00:20:02,720 --> 00:20:05,560 Speaker 6: every year after the NFL Draft, the PA and Panini 376 00:20:06,040 --> 00:20:09,760 Speaker 6: together they select between you know, thirty five and fifty 377 00:20:09,840 --> 00:20:13,560 Speaker 6: rookies to go to LA and basically they have to 378 00:20:13,640 --> 00:20:17,040 Speaker 6: sign at minimum five thousand trading cards some of them. 379 00:20:18,000 --> 00:20:20,880 Speaker 1: It's crazy. So fifty two one hundred players, right, I mean, 380 00:20:21,160 --> 00:20:23,960 Speaker 1: so thirty five to fifty thirty small. 381 00:20:24,000 --> 00:20:26,120 Speaker 6: It's a small group. In essence, I think the PA 382 00:20:26,200 --> 00:20:28,199 Speaker 6: would like to grow the amount of players. But I 383 00:20:28,200 --> 00:20:30,800 Speaker 6: mean that means you have to extend the time period 384 00:20:30,880 --> 00:20:33,879 Speaker 6: of the event itself. It's a three four day event. 385 00:20:34,359 --> 00:20:36,480 Speaker 6: You bring in one hundred guys, it could be a 386 00:20:36,480 --> 00:20:39,440 Speaker 6: week long. So one hundred guys signing five thousand trading cards. 387 00:20:39,440 --> 00:20:41,119 Speaker 6: I'm not sure that's on the top of the do 388 00:20:41,240 --> 00:20:42,040 Speaker 6: list for anybody. 389 00:20:42,160 --> 00:20:44,240 Speaker 1: So how engaged with CJ Strout? I mean, like, seriously, 390 00:20:44,240 --> 00:20:46,760 Speaker 1: which players from you just you know, standing in the background, 391 00:20:46,800 --> 00:20:49,440 Speaker 1: you know which rookie players seem most engaged at the event. 392 00:20:49,560 --> 00:20:52,520 Speaker 6: So this year is a little different because of nil 393 00:20:52,840 --> 00:20:56,200 Speaker 6: last year when I attended for Border Room, it was 394 00:20:56,240 --> 00:20:58,119 Speaker 6: the first year, but there was a little bit of 395 00:20:58,240 --> 00:21:01,199 Speaker 6: uneasiness with the rookies at large, just because you know, 396 00:21:01,600 --> 00:21:04,119 Speaker 6: in terms of how they profit off their name, image 397 00:21:04,119 --> 00:21:04,520 Speaker 6: and likeness. 398 00:21:04,520 --> 00:21:06,280 Speaker 1: It was the first time. This year is completely different. 399 00:21:06,280 --> 00:21:09,040 Speaker 6: The guys know what their brands, how they want to be, 400 00:21:09,240 --> 00:21:12,160 Speaker 6: and a good portion of them have made millions before 401 00:21:12,160 --> 00:21:14,320 Speaker 6: they even enter the league. I'm in the process of 402 00:21:14,320 --> 00:21:16,399 Speaker 6: writing a story, so it'll come out pretty soon and 403 00:21:16,520 --> 00:21:17,959 Speaker 6: you guys will be able to read all about it. 404 00:21:18,119 --> 00:21:19,720 Speaker 4: So they have a brand to protect, they have a 405 00:21:19,760 --> 00:21:23,040 Speaker 4: brand to build and expand. Of course, at this event 406 00:21:23,119 --> 00:21:25,800 Speaker 4: you have a lot of the sponsors attending as well. Right, 407 00:21:25,840 --> 00:21:28,640 Speaker 4: it's not just Paninia America. There's Procter and Gamble, PEPSI, 408 00:21:28,760 --> 00:21:31,800 Speaker 4: Draft Kings, I mean, fanastics goes on. What kind of 409 00:21:31,800 --> 00:21:34,680 Speaker 4: engagement is there between these sponsors and the players. 410 00:21:34,920 --> 00:21:38,199 Speaker 6: After the players, there's this transition around these stations that 411 00:21:38,200 --> 00:21:39,560 Speaker 6: the brand set up, and most of them are in 412 00:21:39,560 --> 00:21:42,080 Speaker 6: private rooms because they're capturing content meeting the rookies and 413 00:21:42,119 --> 00:21:46,119 Speaker 6: you bring in media too much media, it becomes a frenzy. 414 00:21:45,720 --> 00:21:49,479 Speaker 6: So they're in these private rooms and they're capturing content. 415 00:21:49,680 --> 00:21:51,520 Speaker 6: You know, sleep numbers there, the guys are laying on 416 00:21:51,560 --> 00:21:54,000 Speaker 6: the bed EA Sports Is, they're doing things for their 417 00:21:54,040 --> 00:21:56,760 Speaker 6: Madden Game. All of these things are very very private. 418 00:21:56,800 --> 00:21:58,280 Speaker 6: Like it's even hard for me to get in there. 419 00:21:58,280 --> 00:22:01,679 Speaker 6: And I'm not even going into detail on some of 420 00:22:01,720 --> 00:22:05,280 Speaker 6: their activations, so to speak. But it's definitely an event 421 00:22:05,359 --> 00:22:07,320 Speaker 6: that the brands are vying to go to because it's 422 00:22:07,320 --> 00:22:09,000 Speaker 6: a lot of private time. How much time do you 423 00:22:09,080 --> 00:22:12,560 Speaker 6: get with the top five ten picks of the NFL Draft, 424 00:22:13,119 --> 00:22:15,040 Speaker 6: It's not a lot. I mean, you go from the 425 00:22:15,119 --> 00:22:18,480 Speaker 6: NFL Draft to rookie OTA's to so many things. It's 426 00:22:18,520 --> 00:22:21,040 Speaker 6: not a lot of time for brands to meet some 427 00:22:21,080 --> 00:22:23,640 Speaker 6: of these rookies. And this event offers that time. 428 00:22:23,720 --> 00:22:27,320 Speaker 4: So they're cultivating relationships or they're solidifying how they're going 429 00:22:27,359 --> 00:22:29,960 Speaker 4: to move forward with expanding each other's brand. 430 00:22:30,080 --> 00:22:30,720 Speaker 1: I'd say both. 431 00:22:30,840 --> 00:22:33,080 Speaker 6: It depends on the brand. I mean, the advantage that 432 00:22:33,240 --> 00:22:35,960 Speaker 6: NIL has lended the college athletes is that some of 433 00:22:36,000 --> 00:22:39,040 Speaker 6: these guys are entering this event with pre existing relationships 434 00:22:39,040 --> 00:22:41,520 Speaker 6: with the brands that are already there. Sometimes the relationships 435 00:22:41,520 --> 00:22:41,919 Speaker 6: are brand new. 436 00:22:41,920 --> 00:22:43,719 Speaker 1: It just depends. Well, look, you know, I'll tell you 437 00:22:43,920 --> 00:22:45,720 Speaker 1: we can obviously guess what kind of players were there, 438 00:22:45,760 --> 00:22:47,639 Speaker 1: and we kind of know some of the brands that 439 00:22:47,680 --> 00:22:49,480 Speaker 1: were there. I'll tell you one brand that was not there. 440 00:22:49,680 --> 00:22:53,879 Speaker 1: FTX talk to us about what is going on with 441 00:22:54,160 --> 00:22:57,359 Speaker 1: FTX with you know, Tom Brady. I mean I even 442 00:22:57,400 --> 00:23:01,399 Speaker 1: heard that, you know, some law firm handed Shack o'eal 443 00:23:01,480 --> 00:23:04,240 Speaker 1: papers at the Celtics heat gave the other night because 444 00:23:04,240 --> 00:23:06,320 Speaker 1: of this lawsuit and talk to us about how the 445 00:23:06,440 --> 00:23:10,040 Speaker 1: NFL's players associated, you know, how they're teaching these rookies 446 00:23:10,080 --> 00:23:12,880 Speaker 1: to protect their brands from the ftx's of the world. 447 00:23:12,920 --> 00:23:14,240 Speaker 1: Is that part of the curriculum there. 448 00:23:14,600 --> 00:23:17,960 Speaker 6: Yes, I don't know that the NFLPA identifies a brand, 449 00:23:17,960 --> 00:23:19,520 Speaker 6: I mean like, oh, don't do business, to do business. 450 00:23:19,720 --> 00:23:22,920 Speaker 6: But in terms of how they're going into these deals 451 00:23:22,920 --> 00:23:25,040 Speaker 6: and negotiations, they're definitely here's the dues and don'ts that 452 00:23:25,080 --> 00:23:27,760 Speaker 6: we advise you on. Whatever they decide to do afterwards 453 00:23:27,840 --> 00:23:29,920 Speaker 6: is completely up to them. But there's group licensing and 454 00:23:29,960 --> 00:23:33,320 Speaker 6: there's individual licensing. So obviously in a game like Madden 455 00:23:33,400 --> 00:23:36,480 Speaker 6: and that the NFLPA licenses the players' rights to go 456 00:23:36,520 --> 00:23:39,119 Speaker 6: out to then that's that's where the PA comes into effect. 457 00:23:39,160 --> 00:23:42,240 Speaker 6: The individual deals. NFLPA doesn't really have much to do 458 00:23:42,280 --> 00:23:45,120 Speaker 6: with those. Now, they'll say in these sessions, hey, here 459 00:23:45,119 --> 00:23:46,760 Speaker 6: are the dues and don'ts. But when some of these 460 00:23:46,760 --> 00:23:51,000 Speaker 6: players have representation for so long, they should know it. 461 00:23:51,200 --> 00:23:51,960 Speaker 6: They should know it now. 462 00:23:52,000 --> 00:23:52,600 Speaker 1: A year ago, you. 463 00:23:52,600 --> 00:23:55,840 Speaker 6: Couldn't say that. That's why some the nil valuations of 464 00:23:55,920 --> 00:23:57,879 Speaker 6: some of these players were a little lower what they 465 00:23:57,920 --> 00:24:00,600 Speaker 6: are right now. I mean the number one Pick Young's 466 00:24:00,720 --> 00:24:04,439 Speaker 6: valuation by one was three point five million dollars. The 467 00:24:04,520 --> 00:24:06,840 Speaker 6: number one player in twenty twenty two, I think it 468 00:24:06,880 --> 00:24:08,040 Speaker 6: was like three hundred and fifty thousand. 469 00:24:08,119 --> 00:24:09,679 Speaker 1: Yeah, But I mean, I think, I think, really, at 470 00:24:09,680 --> 00:24:11,320 Speaker 1: the end of the day, even the NFL doesn't know, 471 00:24:11,440 --> 00:24:14,880 Speaker 1: right Scarlett, the damages or the potential putit of damages 472 00:24:14,920 --> 00:24:17,840 Speaker 1: that might very well be inflicted on players like you know, 473 00:24:18,000 --> 00:24:20,800 Speaker 1: Shaq O'Neil or Tom Brady due to some of these businesses, 474 00:24:20,840 --> 00:24:23,119 Speaker 1: some of these you know, I mean crypto, you know, 475 00:24:23,200 --> 00:24:24,800 Speaker 1: I mean people thought it was real back then. It's 476 00:24:24,800 --> 00:24:26,800 Speaker 1: not real anymore. But I guess, sticking on the Tom 477 00:24:26,840 --> 00:24:29,040 Speaker 1: Brady conversation, and there's been some news on that front, 478 00:24:29,080 --> 00:24:30,840 Speaker 1: Randy'll talk to us a little bit about the Raiders. 479 00:24:30,960 --> 00:24:34,200 Speaker 6: Sure, sure, he's uh, he's a part owner now part owner. 480 00:24:34,240 --> 00:24:36,800 Speaker 6: Now nobody, I don't think anybody knows what his stake 481 00:24:36,960 --> 00:24:39,320 Speaker 6: is in the Raiders, But he's a minority owner, and 482 00:24:39,359 --> 00:24:41,520 Speaker 6: in some ways it's a full circle moment. If you 483 00:24:41,640 --> 00:24:44,359 Speaker 6: track back, let's four years ago when Tom Brady was 484 00:24:44,359 --> 00:24:48,760 Speaker 6: a free agent, Dana White had a conversation I think 485 00:24:48,760 --> 00:24:51,920 Speaker 6: it was with Rob Gronkowski and the UFC broadcast, and 486 00:24:52,440 --> 00:24:55,199 Speaker 6: essentially he said that Dana White negotiated a deal for 487 00:24:55,280 --> 00:24:56,960 Speaker 6: Tom Brady to come in and play for the Raiders 488 00:24:57,280 --> 00:24:59,200 Speaker 6: John Gruden the head coach of the Raiders at the time. 489 00:24:59,400 --> 00:25:02,679 Speaker 6: It never happened, essentially, and so then he ended up 490 00:25:02,680 --> 00:25:04,680 Speaker 6: going to the Buccaneers and we all know the rest. 491 00:25:04,840 --> 00:25:07,800 Speaker 6: But he had a relationship at some point. Now obviously 492 00:25:07,800 --> 00:25:09,880 Speaker 6: it went in separate ways for a number of years 493 00:25:09,880 --> 00:25:11,560 Speaker 6: because he wanted to go play for the Buccaneers, but 494 00:25:12,000 --> 00:25:14,560 Speaker 6: ownership in the NFL is something that he's pursued before. 495 00:25:14,640 --> 00:25:18,560 Speaker 6: Even after the Raiders thing, there was the Dolphins, right exactly. 496 00:25:18,600 --> 00:25:20,040 Speaker 1: I mean they lost the first round pick this year 497 00:25:20,040 --> 00:25:22,119 Speaker 1: because of Steven Ross and his buddy Bradley be I mean, 498 00:25:22,119 --> 00:25:25,040 Speaker 1: who's the vice chairman of the Dolphins. Basically he was 499 00:25:25,080 --> 00:25:26,840 Speaker 1: talking to him about it. I think an equity stake, 500 00:25:26,920 --> 00:25:28,879 Speaker 1: not necessarily him coming to play for the Dolphins. But 501 00:25:28,920 --> 00:25:30,640 Speaker 1: I'm confused the report. 502 00:25:30,400 --> 00:25:32,560 Speaker 6: Was both from I think it was Mike Florio at 503 00:25:32,560 --> 00:25:36,199 Speaker 6: Pro Football Focus, but the report was both. The report 504 00:25:36,280 --> 00:25:38,760 Speaker 6: was that he was going to be a part owner, 505 00:25:39,040 --> 00:25:41,159 Speaker 6: be in the quarterback and Sean Payton was going to 506 00:25:41,200 --> 00:25:43,960 Speaker 6: be the head coach, right and then of course all 507 00:25:43,960 --> 00:25:46,680 Speaker 6: of that with an equity kicker, right right, Yeah, it's 508 00:25:46,840 --> 00:25:50,480 Speaker 6: I'm interested to know. Let's just God forbid something happens 509 00:25:50,480 --> 00:25:55,520 Speaker 6: with tuataga Valoo this year. But if Tom Brady decides, 510 00:25:55,600 --> 00:25:58,960 Speaker 6: let's say something happens with tuataka Vaaloa and he ends 511 00:25:59,040 --> 00:26:01,800 Speaker 6: up out for us amount of time or whatever. If 512 00:26:01,840 --> 00:26:03,959 Speaker 6: Tom Brady wants to go play for the Miami Dolphins, 513 00:26:04,000 --> 00:26:06,600 Speaker 6: does he now have to sell his Yeah? 514 00:26:06,960 --> 00:26:09,959 Speaker 1: Yes, exactly if he retires right right, he would probably 515 00:26:09,960 --> 00:26:11,520 Speaker 1: have to do. I would think would be a conflict there, 516 00:26:11,600 --> 00:26:12,120 Speaker 1: I would think. 517 00:26:12,160 --> 00:26:15,320 Speaker 4: So is he is his ownership a done deal? Or 518 00:26:15,359 --> 00:26:17,119 Speaker 4: do lots of people have to sign off on it? 519 00:26:17,160 --> 00:26:19,560 Speaker 4: I mean, does the rest of the league's owners have 520 00:26:19,600 --> 00:26:20,440 Speaker 4: to sign off on I. 521 00:26:20,400 --> 00:26:23,280 Speaker 6: Believe the twenty four of the thirty two owners have 522 00:26:23,359 --> 00:26:25,040 Speaker 6: to approve of it, but I don't know that there's 523 00:26:25,040 --> 00:26:25,960 Speaker 6: any reason that they won't. 524 00:26:26,560 --> 00:26:29,480 Speaker 1: What do you think this means for his three hundred 525 00:26:29,480 --> 00:26:31,960 Speaker 1: and seventy five million, ten year deal with Thought. 526 00:26:32,080 --> 00:26:32,280 Speaker 2: Yeah. 527 00:26:32,280 --> 00:26:33,760 Speaker 1: I mean, I mean was. 528 00:26:33,400 --> 00:26:36,040 Speaker 4: The richest broadcast contract that we know of. I mean, 529 00:26:36,200 --> 00:26:37,920 Speaker 4: now we're talking about numbers that we can relate to. 530 00:26:38,400 --> 00:26:40,640 Speaker 1: Yeah, yeah, ten year, three seventy five No problem here. 531 00:26:40,760 --> 00:26:42,480 Speaker 6: Who knows what Tom Brady's going to do in the 532 00:26:42,480 --> 00:26:43,439 Speaker 6: next couple of years. 533 00:26:43,280 --> 00:26:46,199 Speaker 1: He's you think when it's him calling the games on 534 00:26:46,240 --> 00:26:48,479 Speaker 1: a Sunday afternoon, he's going to say that the Raiders 535 00:26:48,480 --> 00:26:50,040 Speaker 1: he thinks the Raider's going to lose. I don't think 536 00:26:50,080 --> 00:26:52,200 Speaker 1: so if he's a Raiders owner. But no, I mean 537 00:26:52,359 --> 00:26:54,399 Speaker 1: I think you would. I mean, yeah, no, I mean 538 00:26:54,400 --> 00:26:56,800 Speaker 1: it's Tom Brady Randall. Do you think just take a 539 00:26:56,800 --> 00:26:58,840 Speaker 1: step back then, what is the real reason. I mean, 540 00:26:58,920 --> 00:27:01,720 Speaker 1: these NFL owners are all billionaires. I mean Mark Davis 541 00:27:01,760 --> 00:27:05,840 Speaker 1: doesn't need the money. Maybe the valuation that Tom provided 542 00:27:05,880 --> 00:27:08,080 Speaker 1: to him for the Raiders that he liked that valuation. 543 00:27:08,320 --> 00:27:10,640 Speaker 1: Maybe it was he thinks that Tom's brand can add 544 00:27:10,640 --> 00:27:12,560 Speaker 1: something to the franchise owners wanted. 545 00:27:12,640 --> 00:27:15,879 Speaker 6: They would have no trouble opening their ownership circles to 546 00:27:16,160 --> 00:27:17,760 Speaker 6: have investors. I mean, we saw it a couple of 547 00:27:17,840 --> 00:27:20,800 Speaker 6: years ago when the Broncos sold. For example, like after 548 00:27:20,840 --> 00:27:23,240 Speaker 6: the deal was closed, we saw Lewis Hamilton come into 549 00:27:23,240 --> 00:27:25,880 Speaker 6: the ownership group. We saw colder Lisa Rice come into 550 00:27:25,880 --> 00:27:29,359 Speaker 6: the ownership group. So in different instances, ownership groups are 551 00:27:29,400 --> 00:27:34,200 Speaker 6: one hundred percent opened up for specific individuals. Why Mark 552 00:27:34,280 --> 00:27:36,640 Speaker 6: Davis opened it up for Tom Brady, You could say, 553 00:27:36,800 --> 00:27:39,639 Speaker 6: he's the goat. He's, you know, the greatest football marketer 554 00:27:39,720 --> 00:27:42,399 Speaker 6: ever in terms of a guy who has helped the 555 00:27:42,440 --> 00:27:43,200 Speaker 6: game grow. 556 00:27:43,200 --> 00:27:44,520 Speaker 1: More endorsement dollars than anything. 557 00:27:44,560 --> 00:27:44,919 Speaker 5: Exactly. 558 00:27:45,080 --> 00:27:48,639 Speaker 4: Anytime the name Tom Brady appears in print, it'll say coma, 559 00:27:48,680 --> 00:27:51,480 Speaker 4: you know, winning his football quarterback of all time and 560 00:27:51,600 --> 00:27:53,520 Speaker 4: part owner of the Raiders. 561 00:27:53,640 --> 00:27:53,840 Speaker 1: Yeah. 562 00:27:54,000 --> 00:27:56,200 Speaker 6: The interesting thing to me is the fact that when 563 00:27:56,200 --> 00:27:59,560 Speaker 6: you talk about football earnings, Patrick Mahomes' contract as four 564 00:27:59,600 --> 00:28:01,760 Speaker 6: and fifty million, but by the time he's done playing 565 00:28:01,800 --> 00:28:04,119 Speaker 6: he will have made half a billion dollars on the 566 00:28:04,119 --> 00:28:07,159 Speaker 6: football field. Is he going to be welcomed into some 567 00:28:07,200 --> 00:28:09,720 Speaker 6: of these ownership groups the same way? Because as we're 568 00:28:09,760 --> 00:28:13,359 Speaker 6: seeing the NFL players are and the NBA players are 569 00:28:13,400 --> 00:28:16,000 Speaker 6: so in MLB players too, all of them are making 570 00:28:16,280 --> 00:28:17,840 Speaker 6: so much more money than what they used to do. 571 00:28:18,040 --> 00:28:18,960 Speaker 1: Yeah, And so with. 572 00:28:19,040 --> 00:28:23,719 Speaker 6: That we're seeing more players invest in different things. Not 573 00:28:23,880 --> 00:28:26,200 Speaker 6: a lot of players have invested in the big leagues 574 00:28:26,240 --> 00:28:28,960 Speaker 6: yet unless you are a goat, I e. Michael Jordan 575 00:28:29,040 --> 00:28:31,639 Speaker 6: and the Hornets and Lebron has talked about having the 576 00:28:31,720 --> 00:28:33,800 Speaker 6: Vegas team. But there aren't a lot of players who 577 00:28:33,840 --> 00:28:35,320 Speaker 6: are jumping into the bigger leagues. 578 00:28:35,400 --> 00:28:37,159 Speaker 4: Yeah, they buy pickleball, but that's different. 579 00:28:37,520 --> 00:28:39,600 Speaker 6: I mean, yeah, one hundred thousand dollars to get in 580 00:28:39,880 --> 00:28:42,280 Speaker 6: versus who knows what the steak is or what the 581 00:28:42,280 --> 00:28:44,120 Speaker 6: minority steak is to get in for a team. 582 00:28:44,440 --> 00:28:48,000 Speaker 1: Randon Williams, Bloomberg US sports reporter, thank you for joining us, 583 00:28:48,440 --> 00:28:50,600 Speaker 1: playing your knowledge on us and all that good stuff. 584 00:28:50,760 --> 00:28:51,760 Speaker 6: Yes, I'll be beck soon. 585 00:28:52,080 --> 00:28:54,360 Speaker 1: Look forward to it up next. On the show, our 586 00:28:54,680 --> 00:28:58,600 Speaker 1: producer and engineer Sebastrin Escobar puts us through the numerical 587 00:28:58,640 --> 00:29:01,880 Speaker 1: gauntlet yet again as we played this week's number of 588 00:29:01,920 --> 00:29:02,200 Speaker 1: the week. 589 00:29:02,280 --> 00:29:05,720 Speaker 4: Scarlett Oh, I'm groaning inside right me me too? 590 00:29:06,000 --> 00:29:08,440 Speaker 1: Not straight ahead on the Bloomberg Business of Sports, I'm 591 00:29:08,480 --> 00:29:12,120 Speaker 1: Dmian SaaS Hour along with Scarlet flu. This is Bloomberg. 592 00:29:16,920 --> 00:29:18,400 Speaker 1: My goal is to be the Num one Pig because 593 00:29:18,440 --> 00:29:19,680 Speaker 1: something I've been dreaming of since kids. 594 00:29:19,680 --> 00:29:21,600 Speaker 2: It feels better to be number one than number five. 595 00:29:21,640 --> 00:29:23,240 Speaker 1: I'll wear a number because of my We have a 596 00:29:23,320 --> 00:29:24,520 Speaker 1: chance to go for three in a row. 597 00:29:24,560 --> 00:29:26,440 Speaker 3: Good numbers are a good time when I first started 598 00:29:26,480 --> 00:29:27,280 Speaker 3: wearing that number. 599 00:29:27,320 --> 00:29:29,800 Speaker 1: How we just have you in proud Bloomberg Business of 600 00:29:29,880 --> 00:29:31,960 Speaker 1: Sports the Number of the Week. 601 00:29:32,520 --> 00:29:34,720 Speaker 4: Welcome back to the Bloomberg Business of Sports show. I'm 602 00:29:34,760 --> 00:29:35,520 Speaker 4: Scarlet Foo. 603 00:29:35,440 --> 00:29:38,160 Speaker 1: And I'm Demian SaaS Hour and it's time to play 604 00:29:38,200 --> 00:29:40,680 Speaker 1: the Number of the Week. Hey, Sebastian, our producer and 605 00:29:40,760 --> 00:29:43,800 Speaker 1: audio engineer, is here to run us through the gauntlet. Sebastian, 606 00:29:43,840 --> 00:29:44,640 Speaker 1: what he got for us? 607 00:29:44,760 --> 00:29:48,160 Speaker 5: All right, guys, souh. You know the Oakland As seems 608 00:29:48,160 --> 00:29:50,240 Speaker 5: like they're going to be out of Oakland pretty soon 609 00:29:50,560 --> 00:29:53,520 Speaker 5: and heading over to across the desert to Las Vegas. 610 00:29:54,080 --> 00:29:56,640 Speaker 5: So now as we put a pin on the end 611 00:29:56,680 --> 00:29:59,360 Speaker 5: of the Oakland A's is rain in the Bay Area. 612 00:30:00,000 --> 00:30:03,320 Speaker 5: I want to know what is their winning percentage? Oh god, 613 00:30:03,520 --> 00:30:06,280 Speaker 5: time that they were in Oakland from nineteen sixty eight 614 00:30:06,360 --> 00:30:07,640 Speaker 5: and we'll go to twenty twenty two. 615 00:30:08,040 --> 00:30:10,880 Speaker 4: Regular season or postseason doesn't even matter so bad. 616 00:30:10,960 --> 00:30:13,800 Speaker 5: All the games, so this is including the games, all 617 00:30:13,840 --> 00:30:15,040 Speaker 5: the games. 618 00:30:14,640 --> 00:30:17,320 Speaker 1: Well, I'm going to guess it's sub five hundred for sure. Yeah, 619 00:30:17,760 --> 00:30:20,560 Speaker 1: so I'm going to start there. Now, it can't be 620 00:30:20,600 --> 00:30:23,000 Speaker 1: like three. It's got to be like four to fifty 621 00:30:23,160 --> 00:30:24,480 Speaker 1: for me, I'll go four to fifty. 622 00:30:24,600 --> 00:30:27,400 Speaker 4: I'm going to say it's four twenty five, four. 623 00:30:27,320 --> 00:30:29,560 Speaker 5: Fifty, four to twenty five. Guys. Let's remember this was 624 00:30:29,600 --> 00:30:31,600 Speaker 5: a star studded team in the seventh that. 625 00:30:31,640 --> 00:30:34,960 Speaker 1: Was only for a few Regid Jackson, the Yankees were 626 00:30:35,040 --> 00:30:37,760 Speaker 1: under estimating. I guess I guess you're saying it's twenty 627 00:30:37,800 --> 00:30:41,680 Speaker 1: five twenty five or five to fifty even maybe. I mean, 628 00:30:41,760 --> 00:30:43,960 Speaker 1: I mean, if he's telling us we're too low belowied. 629 00:30:44,160 --> 00:30:45,560 Speaker 4: When did the A's move to Oakland? 630 00:30:45,760 --> 00:30:49,280 Speaker 5: This was this was nineteen sixty eight, okay, nineteen sixty 631 00:30:49,320 --> 00:30:50,360 Speaker 5: eight to twenty twenty two. 632 00:30:50,560 --> 00:30:52,000 Speaker 1: So what did I say for a set four to fifty? 633 00:30:52,000 --> 00:30:54,800 Speaker 1: All right, I'll go higher four to fifty one, I'm kidding, 634 00:30:55,240 --> 00:30:57,160 Speaker 1: sixty five sixty for all right, I'll go five. 635 00:30:57,080 --> 00:31:00,360 Speaker 5: Twenty five, twenty five sixty and Damie and you are 636 00:31:00,400 --> 00:31:03,520 Speaker 5: the closest here at five eighteen winning percent. 637 00:31:03,600 --> 00:31:06,080 Speaker 1: Eighteen Oh wow, I mean it's got to be in 638 00:31:06,080 --> 00:31:08,800 Speaker 1: that range right of just under like four eighty to 639 00:31:08,840 --> 00:31:11,320 Speaker 1: five twenty most teams are probably just a coin toss. 640 00:31:11,360 --> 00:31:12,880 Speaker 1: I would have thought, though, that's a good question, because 641 00:31:12,920 --> 00:31:14,680 Speaker 1: I really would have thought, just given recent memory and 642 00:31:14,720 --> 00:31:17,120 Speaker 1: the fact that they are sucking when this year that 643 00:31:17,280 --> 00:31:18,600 Speaker 1: you know, would have been below five hundred. 644 00:31:18,720 --> 00:31:21,360 Speaker 5: Yeah, I can tell you if we're including this year, 645 00:31:21,840 --> 00:31:23,560 Speaker 5: the a's are below five hundred. 646 00:31:23,600 --> 00:31:27,080 Speaker 1: Yeah, you see that. There you go? Oh man, poor, 647 00:31:27,120 --> 00:31:28,840 Speaker 1: I mean, I gotta feel bad for Billy Bean. He's 648 00:31:28,880 --> 00:31:30,400 Speaker 1: such a talent, and you know, I mean, well, I 649 00:31:30,400 --> 00:31:31,840 Speaker 1: guess I don't feel bad anymore. He's going to be 650 00:31:31,880 --> 00:31:33,880 Speaker 1: going down to Las Vegas if everything goes their way, 651 00:31:33,920 --> 00:31:36,640 Speaker 1: you know, Scarlett. What's interesting is that it looks like 652 00:31:36,720 --> 00:31:38,440 Speaker 1: they're going to have to tap Clark County for a 653 00:31:38,440 --> 00:31:40,280 Speaker 1: three hundred and eighty million dollars a loon to get 654 00:31:40,280 --> 00:31:42,440 Speaker 1: a stadium down there. And what I found most interesting 655 00:31:42,480 --> 00:31:45,720 Speaker 1: interestingly is that if they don't have a stadium deal 656 00:31:45,760 --> 00:31:49,160 Speaker 1: in place by January of twenty twenty four, they are 657 00:31:49,240 --> 00:31:51,800 Speaker 1: no longer a part of the Major League Baseball what 658 00:31:51,880 --> 00:31:54,480 Speaker 1: is it the revenue sharing agreement? Right, So, so yeah, 659 00:31:54,520 --> 00:31:56,440 Speaker 1: so that's kind of big news. So if you're that 660 00:31:56,560 --> 00:31:58,600 Speaker 1: is no time at all, it's no time at all. Right, So, 661 00:31:58,880 --> 00:32:00,960 Speaker 1: I mean, you know how politics. So I mean my 662 00:32:01,080 --> 00:32:03,880 Speaker 1: question is, can't Clark County kind of hold their feet 663 00:32:03,920 --> 00:32:06,400 Speaker 1: to the coals a bit here and extract their pound 664 00:32:06,440 --> 00:32:08,120 Speaker 1: of flesh? I'm thinking they just be able to do that. 665 00:32:08,280 --> 00:32:10,720 Speaker 4: Are they not aware of how things work? Or maybe 666 00:32:10,760 --> 00:32:12,280 Speaker 4: it's because they're aware of how things work. 667 00:32:12,480 --> 00:32:14,479 Speaker 1: Maybe it's very exactly. Maybe it's because that is how 668 00:32:14,480 --> 00:32:14,960 Speaker 1: things work. 669 00:32:15,040 --> 00:32:16,880 Speaker 5: Yeah, well I'll tell you how things work here. We 670 00:32:17,000 --> 00:32:18,840 Speaker 5: not do just one number, we do two. 671 00:32:19,240 --> 00:32:21,720 Speaker 4: Okay, so we get a chance to redeem ourselves. I 672 00:32:21,760 --> 00:32:22,280 Speaker 4: get a chance. 673 00:32:22,320 --> 00:32:24,360 Speaker 5: But I don't know. It's soccer related. So let's talk 674 00:32:24,360 --> 00:32:26,160 Speaker 5: a little bit about it. In two weeks we have 675 00:32:26,320 --> 00:32:31,440 Speaker 5: the UWAIFA Champions League Final taking place in Turkey instables 676 00:32:31,440 --> 00:32:34,480 Speaker 5: at the Turk Olympic Stadium. This is on Saturday, June 677 00:32:34,520 --> 00:32:36,800 Speaker 5: tenth of this year. So what I want to know, 678 00:32:36,880 --> 00:32:40,840 Speaker 5: guys is how much did Real Madrid earn for winning 679 00:32:40,880 --> 00:32:44,280 Speaker 5: the Champions League final last year? This will be in dollars. 680 00:32:44,480 --> 00:32:46,440 Speaker 1: Oh my god, I wouldn't even know what It begins. 681 00:32:46,440 --> 00:32:47,240 Speaker 4: Three hundred million? 682 00:32:47,600 --> 00:32:50,160 Speaker 1: No, come on, they don't win that much money really 683 00:32:50,200 --> 00:32:51,160 Speaker 1: for winning the league. 684 00:32:51,200 --> 00:32:51,560 Speaker 4: I don't know. 685 00:32:51,760 --> 00:32:53,800 Speaker 1: I mean, look, don't get me wrong, these soccer clubs 686 00:32:53,840 --> 00:32:55,080 Speaker 1: have quite a bit of coin. 687 00:32:55,160 --> 00:32:58,600 Speaker 5: But this is the most prestigious tournament in European soccer. 688 00:33:00,400 --> 00:33:02,840 Speaker 5: It's a pretty big deal. I mean, the person just 689 00:33:02,880 --> 00:33:03,840 Speaker 5: keep going up every year. 690 00:33:03,880 --> 00:33:05,200 Speaker 1: I don't know what they I wouldn't even know where 691 00:33:05,160 --> 00:33:07,040 Speaker 1: to begin, you know me, I'm not a footballer like that. 692 00:33:07,200 --> 00:33:09,040 Speaker 1: You lay it on a Sebastian. How bad do we 693 00:33:09,080 --> 00:33:09,680 Speaker 1: look here? All right? 694 00:33:09,720 --> 00:33:14,640 Speaker 5: Well, I'll tell you one thing. Both pretty bad at this. 695 00:33:14,880 --> 00:33:16,040 Speaker 4: I yes, we knew that. 696 00:33:15,960 --> 00:33:18,680 Speaker 5: It is one hundred and forty six million dollars that 697 00:33:18,760 --> 00:33:19,080 Speaker 5: they want. 698 00:33:19,160 --> 00:33:20,000 Speaker 1: What's right in the middle? 699 00:33:20,040 --> 00:33:21,240 Speaker 4: You were doing something million? 700 00:33:21,320 --> 00:33:25,240 Speaker 1: You were good, well, Sebastian, thank you for making me 701 00:33:25,280 --> 00:33:27,480 Speaker 1: look so foolish. On on the Bloomberg. 702 00:33:27,080 --> 00:33:29,680 Speaker 5: Business Sports Done, guys, I think we'll try it again 703 00:33:29,760 --> 00:33:30,240 Speaker 5: next time. 704 00:33:31,120 --> 00:33:32,520 Speaker 4: Was this a draw? Could we say that this was 705 00:33:32,560 --> 00:33:32,920 Speaker 4: a draw? 706 00:33:33,280 --> 00:33:33,440 Speaker 3: Draw? 707 00:33:33,720 --> 00:33:35,920 Speaker 5: Okay, let's say we all lose here. 708 00:33:36,720 --> 00:33:37,360 Speaker 4: Yeah, it's a draw. 709 00:33:37,480 --> 00:33:37,840 Speaker 1: Okay. 710 00:33:39,480 --> 00:33:42,360 Speaker 4: This has been the Bloomberg Business of Sports podcast. We'd 711 00:33:42,480 --> 00:33:45,520 Speaker 4: like to thank our guests, American Gaming Association President and 712 00:33:45,640 --> 00:33:48,800 Speaker 4: CEO Bill Miller, as well as Bloomberg reporters Martina barsh 713 00:33:48,920 --> 00:33:51,880 Speaker 4: and Randall Williams for joining us this week, and of 714 00:33:51,920 --> 00:33:54,360 Speaker 4: course thank you for listening. I'm Scarlet Foo. You can 715 00:33:54,360 --> 00:33:56,280 Speaker 4: find me on Twitter at Scarlet Foo. 716 00:33:56,240 --> 00:33:58,680 Speaker 1: And I'm on Twitter at the SaaS. 717 00:33:58,400 --> 00:34:01,480 Speaker 5: Hour and I'm Sebastian Findance Twit are under the Sea. 718 00:34:01,360 --> 00:34:02,000 Speaker 1: Bass. 719 00:34:03,600 --> 00:34:05,720 Speaker 4: Clever. Tune in again next week for the latest on 720 00:34:05,760 --> 00:34:08,320 Speaker 4: the sports stories moving big money in the world of sports. 721 00:34:08,480 --> 00:34:10,800 Speaker 4: This is the Bloomberg Business of Sports show from Bloomberg 722 00:34:10,840 --> 00:34:11,920 Speaker 4: Radio around the world.