1 00:00:02,520 --> 00:00:09,480 Speaker 1: Bloomberg Audio Studios, podcasts, radio News. This is the Business 2 00:00:09,480 --> 00:00:10,280 Speaker 1: of Sports. 3 00:00:10,280 --> 00:00:13,720 Speaker 2: Sports are the greatest unscripted show owner. 4 00:00:13,600 --> 00:00:15,800 Speaker 3: The next generation of players who really grew up with 5 00:00:15,880 --> 00:00:17,160 Speaker 3: tech and believe in tech. 6 00:00:17,280 --> 00:00:19,560 Speaker 4: Your face is your ticket, your face is your wallet, 7 00:00:19,640 --> 00:00:21,360 Speaker 4: your face is your access to a club. 8 00:00:21,520 --> 00:00:25,240 Speaker 5: These are such iconic and important buildings for businesses. 9 00:00:25,400 --> 00:00:28,200 Speaker 1: For fans, COVID was one of the best things ever 10 00:00:28,240 --> 00:00:28,800 Speaker 1: happened to go. 11 00:00:29,040 --> 00:00:31,120 Speaker 3: The NFL is a bulletproof business. 12 00:00:31,240 --> 00:00:33,920 Speaker 4: Racing is unique because there is absolutely no reason why 13 00:00:33,920 --> 00:00:34,960 Speaker 4: we can't compete with the guys. 14 00:00:34,960 --> 00:00:36,000 Speaker 3: Come on, it's pro pickleball? 15 00:00:36,040 --> 00:00:38,040 Speaker 2: Real, are people really going to tune into this? 16 00:00:38,240 --> 00:00:40,800 Speaker 6: If you're playing moneyball with a huge bag of money, 17 00:00:40,960 --> 00:00:42,120 Speaker 6: you're going to be really. 18 00:00:41,920 --> 00:00:42,360 Speaker 3: Really good. 19 00:00:42,479 --> 00:00:45,600 Speaker 1: Bloomberg Business of Sports from Bloomberg Radio. 20 00:00:47,479 --> 00:00:50,800 Speaker 3: This is the Bloomberg Business of Sports, where we explore 21 00:00:50,840 --> 00:00:53,400 Speaker 3: the big money issues in the world of sports. 22 00:00:52,960 --> 00:00:55,920 Speaker 7: At Michael Barr and I'm Vanessa Perdumo. Damian sas Hour 23 00:00:56,000 --> 00:00:56,600 Speaker 7: is out this week. 24 00:00:56,800 --> 00:01:00,520 Speaker 3: Coming up today, we speak with billionaire entrepreneur Code founder 25 00:01:00,600 --> 00:01:04,800 Speaker 3: of Vitamin Water and now owner of No Bull Mike Roppol. 26 00:01:05,040 --> 00:01:07,600 Speaker 5: Noble wants to be that three to sixty brand. Few 27 00:01:08,120 --> 00:01:11,959 Speaker 5: for today's athlete. You know, the emotional part, the mental part, 28 00:01:12,000 --> 00:01:15,360 Speaker 5: the physical part. It's not just about the gym. It's 29 00:01:15,400 --> 00:01:16,440 Speaker 5: not just about warning. 30 00:01:16,760 --> 00:01:19,320 Speaker 3: And that's straight ahead on the Bloomberg Business of Sports. 31 00:01:19,680 --> 00:01:24,600 Speaker 3: But first we spoke with Bloomberg's own higher education reporter 32 00:01:24,840 --> 00:01:28,360 Speaker 3: Janet Lauren about the big ending of the college football 33 00:01:28,400 --> 00:01:32,760 Speaker 3: season and how Indiana was able to spin their way 34 00:01:32,760 --> 00:01:36,479 Speaker 3: into a national championship. Ear Centria captility has forgotten. 35 00:01:37,200 --> 00:01:40,440 Speaker 4: The Indiana Hoosiers are the kings of college football. 36 00:01:40,600 --> 00:01:44,320 Speaker 7: There was really a full full season there for Indiana. 37 00:01:44,440 --> 00:01:46,800 Speaker 7: Jana joins us to tell us now how they really 38 00:01:46,800 --> 00:01:47,400 Speaker 7: made it happen. 39 00:01:47,960 --> 00:01:51,000 Speaker 3: Janet, welcome to the Bloomberg Business of Sports. And you 40 00:01:51,040 --> 00:01:55,520 Speaker 3: wrote a great article about the Indiana Hoosiers and the 41 00:01:55,560 --> 00:02:02,560 Speaker 3: Miami Hurricanes and their college football championship game with Indiana 42 00:02:03,040 --> 00:02:08,240 Speaker 3: just taking it to the house undefeated. That is something 43 00:02:08,320 --> 00:02:10,400 Speaker 3: special for any organization. 44 00:02:10,760 --> 00:02:12,760 Speaker 8: It was very exciting to watch, and I grew up 45 00:02:12,760 --> 00:02:15,799 Speaker 8: in Chicago, so I'm very familiar with the Big Ten 46 00:02:15,880 --> 00:02:18,760 Speaker 8: in Indiana, and it was it was a really exciting game. 47 00:02:18,840 --> 00:02:21,520 Speaker 8: And in that fourth quarter you could see why Signetti 48 00:02:21,760 --> 00:02:25,040 Speaker 8: was paid almost to twelve million dollars a year with 49 00:02:25,120 --> 00:02:31,240 Speaker 8: his very gutsy call to to landa Mendoza an amazing touchdown. 50 00:02:31,560 --> 00:02:33,800 Speaker 7: Yeah, I think you know. One of the interesting things 51 00:02:33,840 --> 00:02:37,280 Speaker 7: that to see there is obviously the journey that Indiana 52 00:02:37,320 --> 00:02:39,600 Speaker 7: has been on and how they've been able to change 53 00:02:39,680 --> 00:02:42,840 Speaker 7: the athletic director athletic department. In your story, one of 54 00:02:42,880 --> 00:02:45,720 Speaker 7: the things you had had quoted was from one of 55 00:02:45,720 --> 00:02:49,120 Speaker 7: the donors had said, for the for the coach, with 56 00:02:49,160 --> 00:02:50,720 Speaker 7: what he's done, I don't know if you could pay 57 00:02:50,800 --> 00:02:54,680 Speaker 7: him enough. Tell me about, you know, what they've been 58 00:02:54,680 --> 00:02:57,440 Speaker 7: able to do and how they've been able to change program. 59 00:02:57,960 --> 00:03:03,280 Speaker 8: Great question. So we had a great comment from Michael Petrie, 60 00:03:03,320 --> 00:03:07,160 Speaker 8: who is chairman of a bank called Merchants Bank based 61 00:03:07,160 --> 00:03:12,799 Speaker 8: in Indiana. He's in Indiana and the NCAA allowed logos 62 00:03:12,919 --> 00:03:16,760 Speaker 8: on fields starting in twenty twenty four, and Mike told 63 00:03:16,840 --> 00:03:19,960 Speaker 8: me he was approached to put his bank's logo on 64 00:03:20,080 --> 00:03:23,960 Speaker 8: the field, and this was before they had a winning season, 65 00:03:24,480 --> 00:03:27,520 Speaker 8: and he said, look, I run a successful bank. I 66 00:03:27,560 --> 00:03:30,960 Speaker 8: don't want it associated with a losing team. So the 67 00:03:31,000 --> 00:03:35,560 Speaker 8: answer is no, tough And as everybody knows, this year 68 00:03:35,720 --> 00:03:39,040 Speaker 8: is very different because colleges are paying players to the 69 00:03:39,080 --> 00:03:42,720 Speaker 8: tune of twenty point five million dollars a year. It's 70 00:03:42,760 --> 00:03:45,360 Speaker 8: going to go up four percent. Colleges are on the 71 00:03:45,480 --> 00:03:48,560 Speaker 8: hunt for revenue, so a deal like you know, a 72 00:03:48,560 --> 00:03:52,160 Speaker 8: sponsorship for a logo on the field is really important 73 00:03:52,200 --> 00:03:55,920 Speaker 8: for colleges like Indiana. So fast forward, he got a 74 00:03:55,960 --> 00:03:59,400 Speaker 8: new coach, he did extremely well in his first year, 75 00:04:00,080 --> 00:04:04,360 Speaker 8: and guess what, Merchants Bank signed a deal for fifty 76 00:04:04,440 --> 00:04:09,560 Speaker 8: million dollars over twenty years, and that includes naming rights 77 00:04:09,560 --> 00:04:13,400 Speaker 8: for the home field. So I reached out to mister 78 00:04:13,440 --> 00:04:17,560 Speaker 8: Petrie to talk about his. 79 00:04:16,240 --> 00:04:17,760 Speaker 2: His the deal. 80 00:04:17,760 --> 00:04:19,880 Speaker 8: He actually ended up the deal he got and as 81 00:04:19,920 --> 00:04:22,719 Speaker 8: he said, you know you read his quote. With what 82 00:04:22,760 --> 00:04:24,720 Speaker 8: he's done, I don't know if we could pay him enough. 83 00:04:25,160 --> 00:04:28,080 Speaker 8: And he went on to say he's filled the stadium, 84 00:04:28,160 --> 00:04:31,880 Speaker 8: which means there's more revenue from the stadium, there's more 85 00:04:31,920 --> 00:04:36,920 Speaker 8: revenue from concessions, there's more revenue from sponsorship. So he's 86 00:04:36,920 --> 00:04:40,400 Speaker 8: sort of paid for himself. And you know, Indiana brought 87 00:04:40,440 --> 00:04:43,600 Speaker 8: a huge amount of excitement in a story I did 88 00:04:43,760 --> 00:04:48,239 Speaker 8: last year about other ways that colleges are looking literally 89 00:04:48,360 --> 00:04:53,039 Speaker 8: hunting for revenue, putting selling things in their stadium. They're 90 00:04:53,080 --> 00:04:58,600 Speaker 8: selling more alcohol, a couple of the school's Nebraska. This 91 00:04:58,680 --> 00:05:00,920 Speaker 8: year it was the first time that they sold alcohol. 92 00:05:01,279 --> 00:05:05,560 Speaker 7: So previously schools didn't even have this part of their concession. 93 00:05:05,600 --> 00:05:08,160 Speaker 8: That is correct. It was more popular in the SEC, 94 00:05:09,200 --> 00:05:14,480 Speaker 8: but you've seen more schools selling alcohol Michigan. Last year 95 00:05:14,560 --> 00:05:18,480 Speaker 8: was their first year Wisconsin because again they're trying to 96 00:05:18,520 --> 00:05:22,080 Speaker 8: find ways to pay their players, and it's you know, 97 00:05:22,120 --> 00:05:27,120 Speaker 8: it's a big change. Colleges are most of the of 98 00:05:27,279 --> 00:05:29,920 Speaker 8: the of the big schools are paying up to the cap, 99 00:05:29,960 --> 00:05:32,320 Speaker 8: which is twenty point five million this year, but it's 100 00:05:32,320 --> 00:05:34,800 Speaker 8: going to increase next year by four percent. 101 00:05:35,720 --> 00:05:40,320 Speaker 3: Talking with our very own Bloombirds, Janet Lauren and you 102 00:05:40,440 --> 00:05:46,320 Speaker 3: mentioned about nil and more colleges are going to have 103 00:05:46,400 --> 00:05:50,279 Speaker 3: to pony up some money because this has taken off 104 00:05:50,440 --> 00:05:55,520 Speaker 3: like wildfire. And you wrote about also that sometimes like 105 00:05:55,560 --> 00:05:59,720 Speaker 3: a Zach Ryan concert where the University of Michigan Wolverines 106 00:05:59,720 --> 00:06:04,560 Speaker 3: play at you know, I love Michigan, so I'm just 107 00:06:04,560 --> 00:06:11,360 Speaker 3: gonna come out and say that, but but too, but 108 00:06:11,480 --> 00:06:16,200 Speaker 3: do the the concerts and things like that at Usually 109 00:06:16,200 --> 00:06:18,440 Speaker 3: we think of it like at you know, down at 110 00:06:18,520 --> 00:06:21,880 Speaker 3: Madison's Square Garden. Now they're playing in the University of 111 00:06:21,880 --> 00:06:25,520 Speaker 3: Michigan College for the Wolverines, is that another way they 112 00:06:25,520 --> 00:06:26,400 Speaker 3: can bring in money. 113 00:06:26,440 --> 00:06:31,039 Speaker 8: Absolutely. Michigan's concert with Zach Bryan it was the first 114 00:06:31,040 --> 00:06:33,520 Speaker 8: time they'd ever had a concert in the Big House 115 00:06:34,040 --> 00:06:36,839 Speaker 8: and sold out and it was the largest you know 116 00:06:36,960 --> 00:06:40,080 Speaker 8: concert ever attended, you know, in the United States because 117 00:06:40,080 --> 00:06:42,000 Speaker 8: they you know, they have a huge amount of seats. 118 00:06:42,040 --> 00:06:44,400 Speaker 8: It was over like one hundred and twelve thousand or 119 00:06:44,440 --> 00:06:48,239 Speaker 8: something to that regard. And Stanford also for the first 120 00:06:48,279 --> 00:06:51,839 Speaker 8: time had cold Play. They had they never held a 121 00:06:51,880 --> 00:06:55,400 Speaker 8: concert there. So universities are saying, look, you know, we 122 00:06:55,440 --> 00:06:58,479 Speaker 8: need to find ways to get money. We have these 123 00:06:58,760 --> 00:07:03,320 Speaker 8: massive stadiums and they sit empty except for you know, 124 00:07:03,360 --> 00:07:06,240 Speaker 8: eight times to eight or ten times a year. We're 125 00:07:06,240 --> 00:07:08,000 Speaker 8: going to We're going to do more events there. 126 00:07:08,400 --> 00:07:11,120 Speaker 7: This is the this is the model for professional sports. 127 00:07:11,160 --> 00:07:14,400 Speaker 7: I mean, every single professional sports owner. This is exactly 128 00:07:14,440 --> 00:07:17,000 Speaker 7: what they want for their buildings, right, all the new NFL, 129 00:07:17,480 --> 00:07:19,600 Speaker 7: all the NFL owners who are trying to build new stadiums, 130 00:07:19,600 --> 00:07:22,200 Speaker 7: and they want them to have domed roofs. And it's 131 00:07:22,240 --> 00:07:25,280 Speaker 7: not because of for the games, it's because of concerts 132 00:07:25,320 --> 00:07:28,480 Speaker 7: and all of that. So is it just that now 133 00:07:28,800 --> 00:07:31,040 Speaker 7: these college sports are going to have to follow the 134 00:07:31,080 --> 00:07:36,360 Speaker 7: professional model of revenue and how professional sports really get. 135 00:07:36,240 --> 00:07:41,840 Speaker 8: Revenue from you know, for themselves absolutely, because they have 136 00:07:42,040 --> 00:07:45,120 Speaker 8: a new cost structure where they're having to pay the 137 00:07:45,120 --> 00:07:50,200 Speaker 8: players and uh, you know, universities are are having to 138 00:07:50,400 --> 00:07:53,520 Speaker 8: find also ways to cut expenses. And you know, the 139 00:07:53,560 --> 00:07:57,240 Speaker 8: Trump administration has been a little unforgiving to hire ed 140 00:07:57,280 --> 00:08:01,560 Speaker 8: this year, and you know they're doing belt tightening all around, 141 00:08:01,960 --> 00:08:04,760 Speaker 8: you know, less in federal funding, lots of concerns in 142 00:08:04,800 --> 00:08:10,200 Speaker 8: that regard for money. So yeah, college sports are really 143 00:08:10,200 --> 00:08:13,440 Speaker 8: going undergoing massive changes in so many different ways. 144 00:08:13,840 --> 00:08:16,280 Speaker 7: When you talk to people in this space, Jane, I'm curious. 145 00:08:16,320 --> 00:08:19,600 Speaker 7: You know, obviously the story forever was college coaches get 146 00:08:19,600 --> 00:08:23,000 Speaker 7: paid a lot of money and the student athletes weren't 147 00:08:23,320 --> 00:08:24,520 Speaker 7: necessarily getting paid. 148 00:08:24,520 --> 00:08:25,200 Speaker 1: I mean, wink wink. 149 00:08:25,240 --> 00:08:27,360 Speaker 7: We all know they're getting saying, but it's not maybe 150 00:08:27,480 --> 00:08:29,960 Speaker 7: something like that, it's not what they're getting paid now. 151 00:08:30,040 --> 00:08:31,920 Speaker 7: So when you talk to people, and you talk to 152 00:08:31,960 --> 00:08:35,520 Speaker 7: athletic directors and people like that, and coaches are how 153 00:08:35,800 --> 00:08:37,920 Speaker 7: big of a struggle is this for them to wrap 154 00:08:38,000 --> 00:08:41,000 Speaker 7: their minds around how they have to change their structure 155 00:08:41,120 --> 00:08:43,640 Speaker 7: of how they do business how they run their programs. 156 00:08:43,720 --> 00:08:47,960 Speaker 8: Well, it's completely different. You know, as you've seen, they're 157 00:08:48,000 --> 00:08:51,760 Speaker 8: having to deal with agents, you know, lots of different 158 00:08:51,880 --> 00:08:57,000 Speaker 8: money questions, raising revenue. Many schools have hired a new position, 159 00:08:57,240 --> 00:09:00,679 Speaker 8: a general manager like Andrew luck is a GM at 160 00:09:00,679 --> 00:09:03,160 Speaker 8: Stanford whose yeah I see your face. 161 00:09:03,559 --> 00:09:04,040 Speaker 7: I did not know. 162 00:09:05,320 --> 00:09:09,360 Speaker 8: Yeah, oh his alma mater. So schools are hiring new 163 00:09:09,400 --> 00:09:15,160 Speaker 8: positions because, you know, being the the ad, you're hiring 164 00:09:15,240 --> 00:09:18,160 Speaker 8: a CEO for your team because you're having to make 165 00:09:18,200 --> 00:09:20,800 Speaker 8: a lot of different financial decisions. It's not just looking 166 00:09:20,800 --> 00:09:22,160 Speaker 8: at x's and o's anymore. 167 00:09:23,280 --> 00:09:28,160 Speaker 3: See, you can have Boise State host the Blue Man Group. 168 00:09:29,040 --> 00:09:33,040 Speaker 3: Now nothing nobody gets the joke is, come on, man, 169 00:09:33,440 --> 00:09:37,720 Speaker 3: it's a blue field his blue Man. Oh my gosh. 170 00:09:37,760 --> 00:09:40,400 Speaker 2: Anyway, Yeah, in. 171 00:09:40,440 --> 00:09:41,560 Speaker 3: Other words, it wasn't funny. 172 00:09:41,559 --> 00:09:42,439 Speaker 2: Anyway. 173 00:09:43,120 --> 00:09:46,120 Speaker 3: I want to go back to the Indiana game because 174 00:09:46,160 --> 00:09:51,920 Speaker 3: they were charging up to thirty thousand dollars for a seat, 175 00:09:52,160 --> 00:09:55,439 Speaker 3: and then they were charging nine thousand dollars to park 176 00:09:55,520 --> 00:09:59,600 Speaker 3: the car. Ge Whiz is like, I see why they 177 00:09:59,800 --> 00:10:02,079 Speaker 3: can take a lot of money out of this for nil. 178 00:10:03,120 --> 00:10:07,320 Speaker 8: Yeah, and it's it's it's just a different it's just 179 00:10:07,360 --> 00:10:13,559 Speaker 8: a different ballgame, no pun intended, but yeah, colleges are 180 00:10:13,880 --> 00:10:18,640 Speaker 8: you know, there were in really uncharted territory because the 181 00:10:18,679 --> 00:10:22,800 Speaker 8: transfer portal. You know, look at how it changed Indiana's team. 182 00:10:22,840 --> 00:10:25,520 Speaker 8: You could never you could never construct a team like 183 00:10:25,600 --> 00:10:28,160 Speaker 8: that if you didn't have something like the transfer portal 184 00:10:28,760 --> 00:10:32,440 Speaker 8: and in the ability to move players with a coach, 185 00:10:33,120 --> 00:10:35,880 Speaker 8: and you know that that will also on the opposite end, 186 00:10:36,080 --> 00:10:39,920 Speaker 8: you know, destroy teams. You know, when coaches move, they're 187 00:10:40,120 --> 00:10:42,640 Speaker 8: you know, they're taking their players with them. And then 188 00:10:42,800 --> 00:10:46,480 Speaker 8: there's also how do you negotiate salaries for the players 189 00:10:46,520 --> 00:10:49,080 Speaker 8: when they're not even members of the school, you know, 190 00:10:49,120 --> 00:10:51,200 Speaker 8: they haven't even enrolled in the school yet. And then 191 00:10:51,240 --> 00:10:55,520 Speaker 8: you've got agents. So it's a really different ballgame. 192 00:10:56,200 --> 00:10:59,320 Speaker 7: One of the things that obviously they're trying to offset 193 00:10:59,320 --> 00:11:02,040 Speaker 7: these costs with private equity is trying to come into 194 00:11:02,040 --> 00:11:04,360 Speaker 7: college boards and in a big way tell us about 195 00:11:04,360 --> 00:11:07,280 Speaker 7: the relationship between private equity and college and what really 196 00:11:07,320 --> 00:11:09,640 Speaker 7: they're trying to get out of the college system. 197 00:11:10,559 --> 00:11:14,800 Speaker 8: So there's been a lot of rumblings. The Big Ten 198 00:11:15,320 --> 00:11:20,080 Speaker 8: was approached by several private equity firms, didn't really pan out. 199 00:11:20,480 --> 00:11:24,280 Speaker 8: The University of California Investments, you know, which manages two 200 00:11:24,320 --> 00:11:28,079 Speaker 8: hundred billion dollars of endowment and pension. You know they 201 00:11:28,080 --> 00:11:31,360 Speaker 8: were interested in a deal. Ultimately that was put on hold. 202 00:11:32,040 --> 00:11:35,400 Speaker 8: You've seen the Big twelve has a potential deal University 203 00:11:35,400 --> 00:11:39,079 Speaker 8: of Utah that would close later. The interesting part about 204 00:11:39,080 --> 00:11:42,880 Speaker 8: private equity is you need an exit and how are 205 00:11:42,880 --> 00:11:46,440 Speaker 8: you going to exit making money? I mean, I wrote 206 00:11:46,480 --> 00:11:50,560 Speaker 8: about university endowments for a long time. I still do so, 207 00:11:50,600 --> 00:11:53,920 Speaker 8: I'm very familiar with how private equity works. And you know, 208 00:11:53,960 --> 00:11:57,160 Speaker 8: these firms that they want they want to make a profit, 209 00:11:57,720 --> 00:12:01,839 Speaker 8: and it's not really clear how that ends with college athletics. 210 00:12:02,440 --> 00:12:05,480 Speaker 8: I wrote about another firm that we had to power 211 00:12:05,520 --> 00:12:08,520 Speaker 8: players elevate, and you know, they basically do sort of 212 00:12:08,520 --> 00:12:11,720 Speaker 8: a private credit, private like a loan. They will be 213 00:12:11,960 --> 00:12:16,080 Speaker 8: expected to be repaid, you know, certainly once they've put 214 00:12:16,120 --> 00:12:20,160 Speaker 8: in helped the schools or conferences get capital to make 215 00:12:20,200 --> 00:12:24,719 Speaker 8: improvements that will get them bigger revenue streams, and then 216 00:12:24,720 --> 00:12:25,960 Speaker 8: the ability to pay that back. 217 00:12:26,160 --> 00:12:30,199 Speaker 7: That was Bloomberg's own higher education finance reporter Janet Lauren. Up. 218 00:12:30,240 --> 00:12:34,800 Speaker 3: Next, we speak with entrepreneur Mike Ropolei about his latest venture, Noble. 219 00:12:35,280 --> 00:12:38,320 Speaker 3: That's threat Ahead on the Bloomberg Business of Sports for 220 00:12:38,440 --> 00:12:41,679 Speaker 3: my colleague Vanessa Pernomo. I'm Michael Barr, and don't forget 221 00:12:41,679 --> 00:12:45,120 Speaker 3: to catch our podcast on all your podcast platforms and 222 00:12:45,280 --> 00:12:49,480 Speaker 3: right here on Bloomberg Business of Sports from Bloomberg Radio. 223 00:12:49,600 --> 00:12:50,520 Speaker 3: Around the world. 224 00:13:00,960 --> 00:13:05,080 Speaker 2: Bloomberg Radio is on Amazon Alexa get live Business News 225 00:13:05,120 --> 00:13:07,960 Speaker 2: twenty four hours a day. Anywhere you have an Alexa device. 226 00:13:08,200 --> 00:13:10,520 Speaker 2: Just say Alexa play Bloomberg Radio. 227 00:13:11,800 --> 00:13:15,760 Speaker 1: This is Bloomberg Business of Sports from Bloomberg Radio. 228 00:13:17,440 --> 00:13:20,120 Speaker 3: This is the Bloomberg Business of Sports where we explore 229 00:13:20,160 --> 00:13:21,920 Speaker 3: the big money issues in the world of sports. 230 00:13:21,960 --> 00:13:24,839 Speaker 7: I'm Michael Barr and I'm Vanessa Prodomo. Damian Sasairo will 231 00:13:24,880 --> 00:13:25,640 Speaker 7: be back next week. 232 00:13:25,800 --> 00:13:31,000 Speaker 3: Joining us now is billionaire entrepreneur Mike Ripoli. Mike started 233 00:13:31,040 --> 00:13:34,400 Speaker 3: his business empire as co founder of Vitamin Water and 234 00:13:34,520 --> 00:13:38,440 Speaker 3: later built and flipped another beverage, body Armor, which he 235 00:13:38,640 --> 00:13:41,920 Speaker 3: sold for a few billion dollars to Coca Cola. No 236 00:13:42,040 --> 00:13:43,319 Speaker 3: big deal and Michael. 237 00:13:43,360 --> 00:13:46,600 Speaker 7: He's also teamed up with celebrities superstar athletes throughout his 238 00:13:46,720 --> 00:13:49,679 Speaker 7: entire career. His partner and body armour was none other 239 00:13:49,760 --> 00:13:52,800 Speaker 7: than the late great Kobe Bryant and Now he's partnering 240 00:13:52,800 --> 00:13:56,600 Speaker 7: with another legendary athlete, Tom Brady, on his latest venture. 241 00:13:56,800 --> 00:14:01,959 Speaker 3: Noble Mike PROPOLEI beverage entrepreneur. Welcome to the Bloomberg Business 242 00:14:01,960 --> 00:14:04,360 Speaker 3: of sports. Now you're the owner of No Bull. But 243 00:14:04,440 --> 00:14:07,160 Speaker 3: before we get into that, I want to talk about 244 00:14:07,200 --> 00:14:10,480 Speaker 3: how you started. Because you sold Vitamin Water to Coca 245 00:14:10,520 --> 00:14:14,280 Speaker 3: Cola for four billion dollars and Body Armor took Coca 246 00:14:14,320 --> 00:14:18,040 Speaker 3: Cola for five point six billion dollars. And you did 247 00:14:18,040 --> 00:14:19,440 Speaker 3: it pretty much on your own. 248 00:14:19,560 --> 00:14:23,920 Speaker 5: There the last part, Michael, you wren a roll and 249 00:14:23,960 --> 00:14:29,760 Speaker 5: that last part was absolutely false. I don't believe self made, 250 00:14:30,600 --> 00:14:32,360 Speaker 5: you know, I believe in self made by others. But 251 00:14:33,480 --> 00:14:36,360 Speaker 5: I was twenty eight twenty nine at Vitamin Water and 252 00:14:37,280 --> 00:14:39,840 Speaker 5: I joined this guy, Darius Bike Golf, and we created this. 253 00:14:40,560 --> 00:14:42,640 Speaker 5: We had this little brand called Small Water was about 254 00:14:42,640 --> 00:14:45,720 Speaker 5: one hundred thousand dollars, and you know, it was nineteen 255 00:14:45,800 --> 00:14:48,520 Speaker 5: ninety eight, and together we created this brand called Vitamin 256 00:14:48,600 --> 00:14:52,600 Speaker 5: Water that came out in two thousand and we had 257 00:14:52,600 --> 00:14:56,960 Speaker 5: a ten year run with six hundred amazing employees, amazing partners, 258 00:14:57,520 --> 00:15:00,400 Speaker 5: amazing vendors. And you know, I didn't I didn't know 259 00:15:00,480 --> 00:15:03,080 Speaker 5: much about being in business or being an entrepreneur. 260 00:15:03,160 --> 00:15:05,640 Speaker 2: And you know, I guess you learned on the way. 261 00:15:05,640 --> 00:15:08,320 Speaker 5: We went from two employees to twenty to one hundred, 262 00:15:08,360 --> 00:15:10,240 Speaker 5: to two hundred to four hundred to six. 263 00:15:10,120 --> 00:15:12,720 Speaker 2: Hundred, and that really got me started. 264 00:15:13,400 --> 00:15:16,280 Speaker 5: And you know, the one thing I always stress Michael 265 00:15:16,280 --> 00:15:19,760 Speaker 5: and Vanessa is, you know, it's all about people and 266 00:15:19,840 --> 00:15:22,880 Speaker 5: brand and really the people that you put on your team, 267 00:15:22,960 --> 00:15:26,320 Speaker 5: the people you surround yourself with. You know, you hear 268 00:15:26,400 --> 00:15:29,160 Speaker 5: so many cliches hire people that you're smaller than, hire 269 00:15:29,200 --> 00:15:30,640 Speaker 5: people with different skill sets. 270 00:15:30,680 --> 00:15:33,160 Speaker 2: But in any business man, you're only going. 271 00:15:33,160 --> 00:15:36,920 Speaker 5: To get better if you hire people with different skill sets, 272 00:15:36,920 --> 00:15:40,280 Speaker 5: different personalities, and that really can you know, you get 273 00:15:40,280 --> 00:15:44,280 Speaker 5: the right chemistry and you could build the biggest brands 274 00:15:45,200 --> 00:15:47,720 Speaker 5: that you ever dreamed about. And it started with vitam 275 00:15:47,760 --> 00:15:49,560 Speaker 5: Ortar and an incredible team. 276 00:15:49,640 --> 00:15:54,400 Speaker 2: And you know, ten years went by, like like ten 277 00:15:54,520 --> 00:15:57,280 Speaker 2: long decades to be honest with. 278 00:15:57,240 --> 00:15:57,440 Speaker 5: You, so. 279 00:15:59,400 --> 00:16:02,120 Speaker 7: Wow, thats an Why do you say that, like what 280 00:16:02,160 --> 00:16:04,120 Speaker 7: was this? What was the struggle? What was the grind 281 00:16:04,160 --> 00:16:05,560 Speaker 7: when you were there doing vitamin water? 282 00:16:06,160 --> 00:16:09,560 Speaker 5: You know it's you know, Vanessa, you know, it's I 283 00:16:09,680 --> 00:16:12,480 Speaker 5: was a first in everything, like you know, first time, 284 00:16:12,800 --> 00:16:15,440 Speaker 5: you know, I was twenty eight managing you know, two 285 00:16:15,520 --> 00:16:18,040 Speaker 5: three years into the job, managing people that were the 286 00:16:18,040 --> 00:16:18,920 Speaker 5: age of my parents. 287 00:16:19,200 --> 00:16:21,440 Speaker 2: You know, some were fifteen to fifty five and some were. 288 00:16:21,280 --> 00:16:24,440 Speaker 5: College graduates, and you know, for the first time really 289 00:16:24,480 --> 00:16:28,160 Speaker 5: doing sales in marketing and then operations and then HR 290 00:16:28,280 --> 00:16:32,520 Speaker 5: and then corporate strategy, you know, and you know, many 291 00:16:32,560 --> 00:16:35,040 Speaker 5: of you know, I'm a New York kid that grew 292 00:16:35,080 --> 00:16:38,400 Speaker 5: up in Queens and you know, my dad was a 293 00:16:38,480 --> 00:16:40,840 Speaker 5: waiter and my mom was a seamstress. And by the 294 00:16:40,840 --> 00:16:43,280 Speaker 5: time I was in third grade, I had more education 295 00:16:43,360 --> 00:16:45,280 Speaker 5: than both of them. And you know, went to Saint 296 00:16:45,360 --> 00:16:49,880 Speaker 5: John's and you know, I know, Vanessa, probably academically I 297 00:16:49,880 --> 00:16:50,920 Speaker 5: didn't do as good as you. 298 00:16:51,000 --> 00:16:52,240 Speaker 2: But I had a two too. 299 00:16:52,120 --> 00:16:54,840 Speaker 5: Great average in Saint John's, which I know is probably 300 00:16:54,840 --> 00:17:00,480 Speaker 5: better than Michael. But I was an athlete, okay, you know, 301 00:17:00,840 --> 00:17:01,720 Speaker 5: I got to miss you. 302 00:17:01,800 --> 00:17:03,240 Speaker 2: I did my classes with all. 303 00:17:03,080 --> 00:17:06,719 Speaker 5: The athletes, so all the same players were in my class, 304 00:17:06,720 --> 00:17:09,439 Speaker 5: and my textbook with sports illustrated, and you know, so 305 00:17:09,520 --> 00:17:11,760 Speaker 5: when you say it's the grind, it's you know, it's 306 00:17:11,760 --> 00:17:13,480 Speaker 5: like anything in life, like the first time you do 307 00:17:13,560 --> 00:17:17,520 Speaker 5: it the first time, and you know I wasn't, you know, 308 00:17:17,560 --> 00:17:20,120 Speaker 5: And I always tell people I'm not smarter than anybody. 309 00:17:20,480 --> 00:17:22,679 Speaker 5: But you know what, if I'm working twenty hour days, 310 00:17:23,160 --> 00:17:25,320 Speaker 5: seven days a week and you're working eight hour days, 311 00:17:25,320 --> 00:17:27,760 Speaker 5: five days a week, and you're taking a home day 312 00:17:27,800 --> 00:17:30,000 Speaker 5: on Mondays and Fridays, I mean I'm going. 313 00:17:29,920 --> 00:17:30,280 Speaker 2: To beat you. 314 00:17:30,680 --> 00:17:33,919 Speaker 5: And you being an athlete, you know, I mean, you 315 00:17:33,960 --> 00:17:36,119 Speaker 5: know I'm friends with and I was friends with Kobe Bryant, 316 00:17:36,119 --> 00:17:38,240 Speaker 5: I'm friends with Tom Brady and you know, you know 317 00:17:38,320 --> 00:17:40,880 Speaker 5: the great ones just put that extra time in and 318 00:17:41,240 --> 00:17:42,240 Speaker 5: that's what life's about. 319 00:17:42,320 --> 00:17:44,440 Speaker 2: If you want something, you got to really go for it. 320 00:17:44,640 --> 00:17:48,679 Speaker 3: Well, you're right about my grades because they spelled dad, 321 00:17:49,720 --> 00:17:52,160 Speaker 3: which is what I was when I had to tell 322 00:17:52,200 --> 00:17:57,960 Speaker 3: this to my mom and dad. What now is you're 323 00:17:58,000 --> 00:18:03,879 Speaker 3: into the venture of Noble and you bought the majority stake. 324 00:18:04,119 --> 00:18:07,560 Speaker 3: And I have to be honest, I wasn't even realizing 325 00:18:07,640 --> 00:18:12,800 Speaker 3: it was a struggling business. Back then. I thought everybody 326 00:18:12,960 --> 00:18:16,840 Speaker 3: was into Noble, but you turned that all around. 327 00:18:16,840 --> 00:18:19,600 Speaker 5: You know, Michael, it's a good question. We have two 328 00:18:19,680 --> 00:18:22,280 Speaker 5: great co founders. Co founders of this company. It was 329 00:18:22,359 --> 00:18:28,719 Speaker 5: uh uh Marcus and Michael and uh Uh Marcus Wilson 330 00:18:28,720 --> 00:18:31,520 Speaker 5: and uh And and Michael Schaeffer. 331 00:18:31,560 --> 00:18:35,760 Speaker 2: And at the end, what was very special was I. 332 00:18:35,680 --> 00:18:38,960 Speaker 5: Saw these guys as entrepreneurs, like when I started out 333 00:18:39,000 --> 00:18:42,479 Speaker 5: with Smart Order pre Vitamin World of where you know 334 00:18:42,840 --> 00:18:47,560 Speaker 5: you're getting started, and anytime you start a business, really 335 00:18:48,160 --> 00:18:51,440 Speaker 5: the first three to five years of the survival years, 336 00:18:51,840 --> 00:18:54,080 Speaker 5: you don't know if you're gonna make it on to Friday, 337 00:18:54,080 --> 00:18:56,520 Speaker 5: you don't know if you're gonna make payroll. You know, 338 00:18:56,680 --> 00:19:00,320 Speaker 5: a couple of mistakes, you can go bankrupt. And what 339 00:19:00,359 --> 00:19:04,320 Speaker 5: they did is they Marcus and Michael both benefited from 340 00:19:04,320 --> 00:19:08,080 Speaker 5: starting the brand and the brand can actually caught fire 341 00:19:08,200 --> 00:19:13,479 Speaker 5: early and it grew so fast, and then COVID happened 342 00:19:13,480 --> 00:19:19,720 Speaker 5: that you know, you can lose the momentum of a 343 00:19:19,800 --> 00:19:22,359 Speaker 5: brand in the first three to five years when it's 344 00:19:22,400 --> 00:19:25,320 Speaker 5: getting started, with five plus years when it starts to 345 00:19:25,359 --> 00:19:29,080 Speaker 5: have some growth, and they got into some growing pains, 346 00:19:29,200 --> 00:19:32,040 Speaker 5: and I try to reach out to them when the 347 00:19:32,040 --> 00:19:35,040 Speaker 5: brand was small in twenty eighteen and twenty. 348 00:19:35,280 --> 00:19:36,880 Speaker 2: And they didn't need any help. 349 00:19:36,920 --> 00:19:40,080 Speaker 5: And then I saw an opportunity in twenty two and 350 00:19:40,200 --> 00:19:43,560 Speaker 5: I really I really enjoyed them and they're still major 351 00:19:45,600 --> 00:19:48,520 Speaker 5: partners with Tom and I and involved in the company 352 00:19:49,359 --> 00:19:54,560 Speaker 5: both in strategy and design, and you know, it's it's 353 00:19:54,280 --> 00:19:57,520 Speaker 5: it's it's they lost the momentum. 354 00:19:57,560 --> 00:20:01,760 Speaker 2: And then we came in and you know, we kind. 355 00:20:01,480 --> 00:20:08,120 Speaker 5: Of not only focused on fixing the the back office 356 00:20:08,200 --> 00:20:12,800 Speaker 5: operations and finance and people, but also now working to 357 00:20:13,560 --> 00:20:17,040 Speaker 5: make it more scalable as we take Noble from a 358 00:20:17,160 --> 00:20:23,159 Speaker 5: extreme sports CrossFit brand in that community to really you know, 359 00:20:23,280 --> 00:20:27,760 Speaker 5: crossing the chasm into like you know, into regular sports 360 00:20:29,000 --> 00:20:35,399 Speaker 5: athletic mind frames, mentality and really just people who see. 361 00:20:35,440 --> 00:20:39,600 Speaker 2: You know, you know, we're all athletes, we're all business athletes. 362 00:20:39,640 --> 00:20:41,280 Speaker 2: I mean, there's a reason why you're talking about business 363 00:20:41,280 --> 00:20:41,639 Speaker 2: and sport. 364 00:20:42,040 --> 00:20:44,760 Speaker 5: You know, whether we're running appointment to appointment, whether we're 365 00:20:44,800 --> 00:20:46,480 Speaker 5: going to you know, pick up our kids and take 366 00:20:46,520 --> 00:20:50,160 Speaker 5: them to uh to places, whether we're trying to get 367 00:20:50,160 --> 00:20:54,000 Speaker 5: all work out in the lifestyle we all lead is 368 00:20:54,200 --> 00:20:56,680 Speaker 5: is is uh, you know, my support is my life 369 00:20:57,200 --> 00:20:59,320 Speaker 5: and uh And now that's what we're trying to do 370 00:20:59,359 --> 00:21:02,800 Speaker 5: with Noble, not just for elite athletes, not just for athletes, 371 00:21:03,040 --> 00:21:06,440 Speaker 5: but really for people who really have that noble mentality. 372 00:21:06,440 --> 00:21:09,760 Speaker 5: The goal of Noble is to make people better, not 373 00:21:09,840 --> 00:21:12,480 Speaker 5: only physically, but mentally and emotionally. 374 00:21:12,680 --> 00:21:15,760 Speaker 7: I think that's really interesting, Mike Ripoli. We're talking to 375 00:21:15,800 --> 00:21:19,120 Speaker 7: the owner of Noble there, and I think what's interesting 376 00:21:19,160 --> 00:21:21,680 Speaker 7: there that you brought up, Mike, is the mental aspect 377 00:21:21,720 --> 00:21:24,440 Speaker 7: of it along with the physical aspect. And now Noble 378 00:21:24,520 --> 00:21:27,280 Speaker 7: is launching Noble Nutrition, which is now going to be 379 00:21:27,320 --> 00:21:29,680 Speaker 7: a new leg of your new leg of the business. 380 00:21:30,119 --> 00:21:33,400 Speaker 7: Is that to go along with the mentality aspect of it, 381 00:21:33,480 --> 00:21:35,600 Speaker 7: to get your mind right, body right in all the 382 00:21:35,640 --> 00:21:38,199 Speaker 7: different ways, you know, tell us about that, because I 383 00:21:38,200 --> 00:21:41,760 Speaker 7: think with apparel and you know, fitness apparel and CrossFit, 384 00:21:41,800 --> 00:21:44,600 Speaker 7: and you're saying all of that, which my brother all 385 00:21:44,600 --> 00:21:46,920 Speaker 7: he uses Noble shoes, you know, that's that's it. He's 386 00:21:46,960 --> 00:21:49,960 Speaker 7: a big crossing guy. But when we're looking at apparel 387 00:21:50,240 --> 00:21:53,760 Speaker 7: and then we're looking at supplements, they're not necessarily they're 388 00:21:53,800 --> 00:21:56,280 Speaker 7: both in the fitness injurty, we're not necessarily the exact 389 00:21:56,400 --> 00:21:59,640 Speaker 7: same sort of part of the industry. Tell us about 390 00:21:59,640 --> 00:22:02,200 Speaker 7: adding and if it is into that whole ethos like 391 00:22:02,200 --> 00:22:02,879 Speaker 7: you're talking about. 392 00:22:03,200 --> 00:22:05,480 Speaker 5: Yeah, well, Vanessa, first of all, when you get a chance, 393 00:22:05,520 --> 00:22:08,240 Speaker 5: send me your resume, because you really get the brand already. 394 00:22:08,280 --> 00:22:10,240 Speaker 2: I mean you just repeated exactly. 395 00:22:10,960 --> 00:22:14,000 Speaker 5: I mean the whole goal of Noble is to target 396 00:22:14,080 --> 00:22:15,960 Speaker 5: someone who just said what you said. 397 00:22:16,320 --> 00:22:16,760 Speaker 2: You know what. 398 00:22:16,840 --> 00:22:18,920 Speaker 5: I know they're all part of wellness. I know they're 399 00:22:18,960 --> 00:22:21,600 Speaker 5: all part of fitness. But you know what, for nutrition, 400 00:22:21,680 --> 00:22:23,960 Speaker 5: I get this, For a power I get this, and 401 00:22:24,000 --> 00:22:26,720 Speaker 5: for sneakers, I get this. And Noble wants to be 402 00:22:26,760 --> 00:22:30,919 Speaker 5: that three sixty brand for you, for today's athlete. You know, 403 00:22:30,960 --> 00:22:34,160 Speaker 5: the emotional part, the mental part, the physical part. It's 404 00:22:34,200 --> 00:22:37,760 Speaker 5: not just about you know, the gym. It's not just 405 00:22:37,800 --> 00:22:41,959 Speaker 5: about wanting. It's not just about walking. It's about the 406 00:22:42,000 --> 00:22:47,440 Speaker 5: mentality piece, whether it's meditation, whether it's sleep, the emotional 407 00:22:47,440 --> 00:22:51,760 Speaker 5: piece about just walking outdoors. Nutrition being such a big part, 408 00:22:51,920 --> 00:22:56,800 Speaker 5: whether it's protein, whether it's electrolytes, whether it's creatine. And 409 00:22:56,960 --> 00:23:01,840 Speaker 5: Noble is for really that athlete that aspires to be better. 410 00:23:02,760 --> 00:23:05,080 Speaker 5: Our job, you know, Tom Brady and I and the 411 00:23:05,119 --> 00:23:08,880 Speaker 5: team at Noble, our job is to inspire people who 412 00:23:08,920 --> 00:23:11,800 Speaker 5: aspire to be better. But not just at one thing, 413 00:23:12,440 --> 00:23:15,880 Speaker 5: you know, because how many times, whether you're an athlete 414 00:23:16,480 --> 00:23:20,080 Speaker 5: or in real life you're dealing with adversity. How many 415 00:23:20,119 --> 00:23:23,320 Speaker 5: times is something going on, you know, with a friend, 416 00:23:23,560 --> 00:23:27,840 Speaker 5: a family member, a coworker, a teammate, and a lot 417 00:23:27,880 --> 00:23:30,760 Speaker 5: of times, especially now, you know, Tom Brady and I 418 00:23:30,800 --> 00:23:33,080 Speaker 5: were lucky that when we were fifteen to thirty there 419 00:23:33,160 --> 00:23:37,200 Speaker 5: was no social media. The distraction now and hearing strangers 420 00:23:37,320 --> 00:23:39,760 Speaker 5: or other people have an opinion of what you do 421 00:23:39,800 --> 00:23:40,400 Speaker 5: and how you. 422 00:23:40,440 --> 00:23:42,080 Speaker 2: Do it is very difficult. 423 00:23:42,640 --> 00:23:47,000 Speaker 5: And what you know, Nike doesn't have protein, Adidas doesn't 424 00:23:47,040 --> 00:23:50,359 Speaker 5: have electrolytes. New Balance is not going to talk to 425 00:23:50,359 --> 00:23:53,399 Speaker 5: you about walking and sleeping. You know, Noble wants to 426 00:23:53,400 --> 00:23:56,160 Speaker 5: be this brand that talks to you in a way 427 00:23:56,840 --> 00:23:59,360 Speaker 5: like that coach that motivated you, whether you're in high 428 00:23:59,400 --> 00:24:03,159 Speaker 5: school or college or that teacher. It's it's really like 429 00:24:03,200 --> 00:24:07,600 Speaker 5: a life coach. And we're not here to preach. We're 430 00:24:07,640 --> 00:24:12,160 Speaker 5: not here to uh uh prescribe what you need to do. 431 00:24:12,720 --> 00:24:15,080 Speaker 2: We're here to be a description like this is good 432 00:24:15,080 --> 00:24:15,400 Speaker 2: for this. 433 00:24:15,840 --> 00:24:18,280 Speaker 5: But at the end of the day, Michael and Vanessa, 434 00:24:18,320 --> 00:24:21,639 Speaker 5: you all know, you know, whether it's you too. People 435 00:24:21,680 --> 00:24:26,399 Speaker 5: can influence you, people can impact you, people can motivate you. 436 00:24:26,960 --> 00:24:29,280 Speaker 5: But you're the one that has to wake up every 437 00:24:29,280 --> 00:24:31,439 Speaker 5: morning and you're the one that has to do the 438 00:24:31,520 --> 00:24:33,480 Speaker 5: actions in order to make yourself better. 439 00:24:33,920 --> 00:24:36,679 Speaker 2: And when it works, there are people that help you. 440 00:24:36,720 --> 00:24:39,320 Speaker 5: But you put the work in and when it doesn't work, 441 00:24:39,640 --> 00:24:40,520 Speaker 5: you can look around. 442 00:24:40,600 --> 00:24:42,240 Speaker 2: But at the end of the day, just get yourself. 443 00:24:41,920 --> 00:24:45,240 Speaker 5: A mirror and blame that person in the in the 444 00:24:45,080 --> 00:24:47,040 Speaker 5: in the in the in the mirror. And you know, 445 00:24:47,080 --> 00:24:49,600 Speaker 5: Noble is going to be that tough love brand. You know, 446 00:24:49,640 --> 00:24:51,520 Speaker 5: we want to be real, we want to be genuine, 447 00:24:51,560 --> 00:24:52,440 Speaker 5: we want to be authentic. 448 00:24:52,600 --> 00:24:56,720 Speaker 7: That was Micropoli, entrepreneur and owner of Noble. But man, Michael, 449 00:24:56,720 --> 00:24:59,280 Speaker 7: I feel like I was listening to his motivational speech. 450 00:24:59,400 --> 00:25:01,760 Speaker 7: His mental for business is so good. 451 00:25:02,119 --> 00:25:03,280 Speaker 8: I feel like we have to have him on a 452 00:25:03,320 --> 00:25:03,879 Speaker 8: little longer. 453 00:25:03,960 --> 00:25:07,000 Speaker 3: I wish we had this guy on when I was 454 00:25:07,040 --> 00:25:10,280 Speaker 3: twenty five years old, but of course we had suspension 455 00:25:10,359 --> 00:25:13,840 Speaker 3: mics back then. But we've got more with Noble. 456 00:25:14,080 --> 00:25:18,080 Speaker 5: Micropolio to me, what the ability to give back to 457 00:25:18,200 --> 00:25:21,760 Speaker 5: Saint John's with how much they've impacted and influenced my life. 458 00:25:22,760 --> 00:25:26,760 Speaker 5: And Madison Square Garden was packed nineteen two hundred going crazy. 459 00:25:27,400 --> 00:25:29,320 Speaker 5: I felt like I was back in nineteen eighty five. 460 00:25:29,440 --> 00:25:31,720 Speaker 3: That's straight ahead on the Bloomberg business of sports. For 461 00:25:31,840 --> 00:25:34,760 Speaker 3: my colleague Vanessa Bernomo. I'm Michael Barr, and don't forget 462 00:25:34,800 --> 00:25:39,000 Speaker 3: to catch our podcast on all your podcast platforms right 463 00:25:39,040 --> 00:25:42,840 Speaker 3: here on the Bloomberg Business of Sports from Bloomberg Radio 464 00:25:42,920 --> 00:25:46,440 Speaker 3: around the world. 465 00:25:54,720 --> 00:25:58,639 Speaker 6: Imagine home, the smell of coffee, the sound of a lawnmower, 466 00:25:58,920 --> 00:26:02,000 Speaker 6: the sun's warmth on your face, Free to be yourself, 467 00:26:02,640 --> 00:26:06,320 Speaker 6: surrounded by love that helps you grow. This is a 468 00:26:06,359 --> 00:26:10,000 Speaker 6: place to call home. That's an American dream we all deserve. 469 00:26:11,359 --> 00:26:14,280 Speaker 6: But in fifty percent of US states you could legally 470 00:26:14,320 --> 00:26:17,760 Speaker 6: be denied housing if you are LGBTQ. Plus. Get the 471 00:26:17,800 --> 00:26:20,840 Speaker 6: facts and hear real stories at Love Has No Labels 472 00:26:20,880 --> 00:26:23,120 Speaker 6: dot Com. Brought to you by Love Has No Labels 473 00:26:23,119 --> 00:26:23,879 Speaker 6: and the Ad Council. 474 00:26:24,600 --> 00:26:27,359 Speaker 4: This is the Bloomberg Business of Entertainment Report, brought to 475 00:26:27,359 --> 00:26:33,480 Speaker 4: you by Fisherinvestments dot Com. From Queen the Name Name 476 00:26:35,119 --> 00:26:43,879 Speaker 4: to Bruce Springsteen. More artists are cashing in by selling 477 00:26:43,920 --> 00:26:47,480 Speaker 4: their music catalogs, but new research shows more listeners in 478 00:26:47,520 --> 00:26:50,920 Speaker 4: the US prefer new songs. According to data from Illuminate, 479 00:26:51,080 --> 00:26:54,040 Speaker 4: new music dominated twenty twenty five, with songs from the 480 00:26:54,080 --> 00:26:57,640 Speaker 4: past fifteen years accounting for seventy six percent of listening 481 00:26:57,720 --> 00:27:00,520 Speaker 4: and forty three percent of on demand audio streams from 482 00:27:00,560 --> 00:27:03,560 Speaker 4: tracks released in the last five years, coming in at 483 00:27:03,600 --> 00:27:06,320 Speaker 4: number one. 484 00:27:06,880 --> 00:27:07,520 Speaker 3: You dont make. 485 00:27:08,840 --> 00:27:12,200 Speaker 4: Alex Warren's twenty twenty five hit ordinary, but the pop 486 00:27:12,280 --> 00:27:15,240 Speaker 4: music hit wasn't the top genre that went to hip 487 00:27:15,280 --> 00:27:17,920 Speaker 4: hop once again, with rock growing its piece of the 488 00:27:17,960 --> 00:27:24,200 Speaker 4: audio streaming pie the most. Lisa Matteo, Bloomberg Radio. 489 00:27:25,040 --> 00:27:29,040 Speaker 1: This is Bloomberg Business of Sports from Bloomberg Radio. 490 00:27:30,640 --> 00:27:33,080 Speaker 3: Thanks for joining us on the Bloomberg Business of Sports, 491 00:27:33,080 --> 00:27:35,360 Speaker 3: where we explore the big money issues in the world 492 00:27:35,359 --> 00:27:35,880 Speaker 3: of sports. 493 00:27:36,080 --> 00:27:38,919 Speaker 7: Michael barn And I'm Vanessa Bernamo. Damian Sasiro will be 494 00:27:38,960 --> 00:27:39,639 Speaker 7: back next week. 495 00:27:39,800 --> 00:27:44,399 Speaker 3: Let's continue our conversation now with billionaire entrepreneur Micropoli. He 496 00:27:44,600 --> 00:27:47,720 Speaker 3: is now the owner of No Bull and oh you 497 00:27:47,920 --> 00:27:50,880 Speaker 3: may have heard of one of his partners. It's none 498 00:27:50,960 --> 00:27:54,760 Speaker 3: other than seven times Super Bowl winner Tom Brady. 499 00:27:54,880 --> 00:27:57,720 Speaker 7: Mike, everything you're saying about the mentality and everything like 500 00:27:57,760 --> 00:28:01,239 Speaker 7: that is goes along with who you decided to partner with, right, 501 00:28:01,359 --> 00:28:04,600 Speaker 7: Kobe has this mentality, Tom Brady has this specific mentality. 502 00:28:05,080 --> 00:28:07,840 Speaker 7: Tell us more about how you partner with them, how 503 00:28:07,880 --> 00:28:11,679 Speaker 7: you chose them for these specific projects, and how they've 504 00:28:11,960 --> 00:28:14,720 Speaker 7: working with athletes in that way has helped, you know, 505 00:28:14,880 --> 00:28:15,960 Speaker 7: change these businesses. 506 00:28:16,520 --> 00:28:18,639 Speaker 2: You know, one thing you know and listen. 507 00:28:18,720 --> 00:28:22,600 Speaker 5: Athletes are no different than other people who are passionate, 508 00:28:22,600 --> 00:28:24,720 Speaker 5: whether it's about music, or whether it's about family, or 509 00:28:24,760 --> 00:28:26,920 Speaker 5: whether it's about you know, whatever it. 510 00:28:26,880 --> 00:28:30,200 Speaker 2: Is, right, So I really love being around passionate people. 511 00:28:30,600 --> 00:28:30,800 Speaker 2: You know. 512 00:28:30,840 --> 00:28:33,600 Speaker 5: The one thing about me, guys, is like, when I'm 513 00:28:33,640 --> 00:28:36,240 Speaker 5: really focused, nothing's going to stop me, nothing's going to 514 00:28:36,280 --> 00:28:39,120 Speaker 5: get my way. When I have no interest, I have 515 00:28:39,160 --> 00:28:41,040 Speaker 5: to be brutally honest, I don't really care. 516 00:28:41,080 --> 00:28:41,880 Speaker 2: I'm sorry. 517 00:28:42,120 --> 00:28:49,240 Speaker 5: So for me, it's more about being really not only connected, connected, 518 00:28:49,360 --> 00:28:55,040 Speaker 5: but having the same mind frame as people who when 519 00:28:55,080 --> 00:28:56,920 Speaker 5: they really want to do something or willing to do 520 00:28:57,000 --> 00:28:59,960 Speaker 5: whatever it takes. There's a lot of people Michae Lenvin 521 00:29:00,360 --> 00:29:02,640 Speaker 5: that tell you they want A, they tell you they 522 00:29:02,720 --> 00:29:04,880 Speaker 5: want B, they tell you they want C, they tell 523 00:29:04,880 --> 00:29:07,200 Speaker 5: you they want D, but they do X, Y and Z. 524 00:29:07,680 --> 00:29:10,000 Speaker 5: They do the opposite of what they say. You know, 525 00:29:10,040 --> 00:29:11,840 Speaker 5: I always say you talk to talk, you better walk 526 00:29:11,880 --> 00:29:15,600 Speaker 5: the walk. So Nobel's not here to make you feel guilty. 527 00:29:16,040 --> 00:29:18,280 Speaker 5: Noble's here to say, if you tell us you want 528 00:29:18,320 --> 00:29:20,440 Speaker 5: to do this, well, we want to be there to 529 00:29:20,480 --> 00:29:22,720 Speaker 5: help you do it. We can't force you to do it. 530 00:29:23,000 --> 00:29:24,520 Speaker 5: And by the way, if you don't want to do it, 531 00:29:24,520 --> 00:29:27,000 Speaker 5: then hey, no problem. Then maybe we're not the brand 532 00:29:27,000 --> 00:29:30,400 Speaker 5: for you. For me, what you find out Michael and 533 00:29:30,480 --> 00:29:36,040 Speaker 5: Vanessa's people really, you know, the people who achieve high 534 00:29:36,120 --> 00:29:39,840 Speaker 5: things in their life. They were motivated by others, but 535 00:29:39,920 --> 00:29:43,720 Speaker 5: they really were motivated by themselves. They were their toughest critic, 536 00:29:43,880 --> 00:29:47,360 Speaker 5: They worked the hardest people who said they wanted something. 537 00:29:47,840 --> 00:29:50,440 Speaker 5: You know, when I have entrepreneurs come to me, I 538 00:29:50,480 --> 00:29:51,600 Speaker 5: tell them it's simple. 539 00:29:51,560 --> 00:29:53,240 Speaker 2: Like, Mike, what are you talking about. It's easy. 540 00:29:53,480 --> 00:29:55,800 Speaker 5: Work eighteen hour days, seven days a week for twenty 541 00:29:55,800 --> 00:30:03,640 Speaker 5: five years. I guarantee you be successful if work on 542 00:30:03,680 --> 00:30:04,840 Speaker 5: your birthday in your fifties. 543 00:30:04,840 --> 00:30:09,400 Speaker 2: You know that's simple. But at the end of the day, 544 00:30:09,600 --> 00:30:10,760 Speaker 2: I do two things, guys. 545 00:30:11,520 --> 00:30:15,280 Speaker 5: I either scare somebody away from wanting to be an entrepreneur, 546 00:30:15,840 --> 00:30:18,560 Speaker 5: and that's not my intention. But if I did, I 547 00:30:18,680 --> 00:30:21,960 Speaker 5: probably saved her or him five years of their alive, 548 00:30:22,440 --> 00:30:24,600 Speaker 5: a ton of money, and maybe a bunch of good 549 00:30:24,600 --> 00:30:27,080 Speaker 5: relationships that they might have would have lost. But if 550 00:30:27,160 --> 00:30:30,840 Speaker 5: I say that and they still want to put in 551 00:30:30,880 --> 00:30:33,560 Speaker 5: the time, the energy, in the work. I not only 552 00:30:33,600 --> 00:30:36,040 Speaker 5: want to I'm not happy for them. I'm willing to 553 00:30:36,120 --> 00:30:37,760 Speaker 5: invest with them on their vision if they. 554 00:30:37,680 --> 00:30:39,400 Speaker 2: Were willing to put away. But that's true. 555 00:30:39,400 --> 00:30:42,400 Speaker 5: Whether you want to be a better son, you want 556 00:30:42,400 --> 00:30:44,240 Speaker 5: to be a better father, you want to be a 557 00:30:44,240 --> 00:30:47,400 Speaker 5: better teammate, you want to be a better friend, you 558 00:30:47,440 --> 00:30:49,400 Speaker 5: want to be a better colleague, you want to be 559 00:30:49,480 --> 00:30:52,280 Speaker 5: a better person, we want to, you know. And Tom 560 00:30:52,320 --> 00:30:54,640 Speaker 5: has been great at this. Like Tom always wanted to 561 00:30:54,680 --> 00:30:57,560 Speaker 5: make his teammates better. You know, Tom won seven Super 562 00:30:57,600 --> 00:30:59,880 Speaker 5: Bowls for a reason. He won six at New England 563 00:30:59,880 --> 00:31:02,200 Speaker 5: and one here. And when I got to know Tom, 564 00:31:02,240 --> 00:31:04,640 Speaker 5: when he came down here in Tampa, you know, we 565 00:31:04,680 --> 00:31:07,840 Speaker 5: talked about his retirement. He still had three years left. 566 00:31:08,000 --> 00:31:10,920 Speaker 5: We talked about his kids and my daughter. We talked 567 00:31:10,920 --> 00:31:14,720 Speaker 5: about the future, and we really connected on how do 568 00:31:14,800 --> 00:31:16,880 Speaker 5: we And you know, he had TB twelve and. 569 00:31:16,880 --> 00:31:19,680 Speaker 2: He was talking about nutrition and he was talking about 570 00:31:19,880 --> 00:31:21,959 Speaker 2: you know, pliability. 571 00:31:21,200 --> 00:31:23,480 Speaker 5: And he was talking about avocado ice cream. And I 572 00:31:23,520 --> 00:31:24,880 Speaker 5: made fun of him for that, by the way, just 573 00:31:24,920 --> 00:31:28,480 Speaker 5: so you know, and I try him, No, no, I 574 00:31:28,520 --> 00:31:31,320 Speaker 5: would never Every time I eat Tom's house and as 575 00:31:31,320 --> 00:31:32,560 Speaker 5: a please don't tell me this, but I have to 576 00:31:32,600 --> 00:31:38,400 Speaker 5: go stop somewhere afterwards. I'm hungry, so you know, I'm like, okay, 577 00:31:38,400 --> 00:31:39,240 Speaker 5: this is this is the advertise. 578 00:31:39,240 --> 00:31:39,960 Speaker 2: Where's the main cost? 579 00:31:39,960 --> 00:31:40,000 Speaker 6: No? 580 00:31:40,080 --> 00:31:40,360 Speaker 5: That was it? 581 00:31:40,480 --> 00:31:42,240 Speaker 2: Thank you, Tom. I got to stop somewhere. 582 00:31:42,320 --> 00:31:46,960 Speaker 5: So but but but the point is Tom, you know, 583 00:31:47,040 --> 00:31:48,640 Speaker 5: he's been doing this since he was fifteen, you know, 584 00:31:48,680 --> 00:31:51,280 Speaker 5: fifteen years old in high school and in Michigan. And 585 00:31:51,320 --> 00:31:55,120 Speaker 5: now he's such a great partner because he's really understanding 586 00:31:55,760 --> 00:31:59,480 Speaker 5: how to make his TV twelve method through Noble. And 587 00:32:00,160 --> 00:32:04,200 Speaker 5: you know, the brands out there right now are at leisure. 588 00:32:04,400 --> 00:32:07,720 Speaker 5: That's not what we're looking to do. Their style brands, 589 00:32:07,760 --> 00:32:11,440 Speaker 5: only their designer brands. And you know, and and listen, 590 00:32:11,480 --> 00:32:13,440 Speaker 5: I don't want to say anything negative about Nike, but 591 00:32:13,480 --> 00:32:14,920 Speaker 5: we all know that Nike's. 592 00:32:14,640 --> 00:32:16,440 Speaker 2: Just look at the stock. The stock will tell you 593 00:32:16,480 --> 00:32:17,160 Speaker 2: how negative it is. 594 00:32:17,200 --> 00:32:19,320 Speaker 5: I mean, you know, I mean, who's wearing Nike today 595 00:32:19,400 --> 00:32:22,120 Speaker 5: versus who wore Nike ten years ago or twenty years ago. 596 00:32:22,160 --> 00:32:23,120 Speaker 2: They've lost their way. 597 00:32:23,600 --> 00:32:25,720 Speaker 5: You know, Adidas goes in and out every every couple 598 00:32:25,760 --> 00:32:28,560 Speaker 5: of years, you know, So you know, I mean, I 599 00:32:28,560 --> 00:32:32,080 Speaker 5: think there's a brand that is ready for this next generation. 600 00:32:32,640 --> 00:32:36,200 Speaker 5: You know, when Body Armour came out versus Gatorade. You know, 601 00:32:36,240 --> 00:32:38,000 Speaker 5: I used to say Gatorade didn't like this. This was 602 00:32:38,040 --> 00:32:40,000 Speaker 5: my grandfather's sports drink. They kind of sent me a 603 00:32:40,040 --> 00:32:42,120 Speaker 5: legal letter. I ripped it up, but don't tell them. 604 00:32:42,480 --> 00:32:46,560 Speaker 5: And Body Armour was better ingredients, natural and for today's athletes. 605 00:32:46,560 --> 00:32:49,000 Speaker 5: And I really think that nobles. You know, listen, I'm 606 00:32:49,080 --> 00:32:50,960 Speaker 5: Noble's not to where I'm telling you right now. 607 00:32:51,000 --> 00:32:51,800 Speaker 2: This is my vision. 608 00:32:52,040 --> 00:32:54,480 Speaker 5: This is two years out, five years out, ten years out, 609 00:32:54,720 --> 00:32:58,560 Speaker 5: twenty years out about building this this noble wellness brand 610 00:32:58,800 --> 00:33:04,240 Speaker 5: that will include footwear, that will include obviously apparel, nutrition, mentality, 611 00:33:05,240 --> 00:33:10,520 Speaker 5: TV or media platform, self care, beauty, you name it. 612 00:33:10,520 --> 00:33:13,000 Speaker 5: There's so many things that we can go here. And 613 00:33:14,360 --> 00:33:18,320 Speaker 5: really it's about helping become better versions of themselves and 614 00:33:18,440 --> 00:33:23,800 Speaker 5: get better not only physically because that's external, mentally and emotionally. 615 00:33:24,720 --> 00:33:29,240 Speaker 3: We're talking with beverage entrepreneur Mike Propoli, owner of No Bull, 616 00:33:29,280 --> 00:33:33,200 Speaker 3: who teamed up with Tom Brady for the latest business venture. 617 00:33:33,320 --> 00:33:37,200 Speaker 3: But I want to bring in. You are a huge 618 00:33:37,280 --> 00:33:41,320 Speaker 3: benefactor for your alma mater, Saint John's. You give the 619 00:33:41,400 --> 00:33:45,640 Speaker 3: schools huge amounts of money for nil tell us about. 620 00:33:45,360 --> 00:33:48,240 Speaker 2: That I wasn't even sure about that, Michael. Thanks, wow, 621 00:33:48,240 --> 00:33:48,600 Speaker 2: I didn't know. 622 00:33:50,400 --> 00:33:52,360 Speaker 7: Not to just completely switch it up on. 623 00:33:54,920 --> 00:33:57,080 Speaker 5: When I fly into the garden and Big One versitat 624 00:33:57,080 --> 00:33:58,880 Speaker 5: in Hall. You by the way, we were down fifteen 625 00:33:58,920 --> 00:34:02,120 Speaker 5: in the second half. I sent a text to Rick 626 00:34:02,120 --> 00:34:04,160 Speaker 5: when they were down fifteen. I had to delete it 627 00:34:04,200 --> 00:34:07,080 Speaker 5: because I was mad at him, but came back in 628 00:34:07,120 --> 00:34:09,799 Speaker 5: one by five. But uh, but but you know what, 629 00:34:10,719 --> 00:34:12,840 Speaker 5: I'm a kid from Queen's right, I mean, you know, 630 00:34:13,600 --> 00:34:16,560 Speaker 5: first generation, and I went to hold Across High School, 631 00:34:16,600 --> 00:34:18,960 Speaker 5: and you know, when it was time to go to college, 632 00:34:19,440 --> 00:34:21,440 Speaker 5: you know, it was it was the eighties when I 633 00:34:21,520 --> 00:34:24,400 Speaker 5: was you know, anywhere from twelve to eighteen. Chris Mullen 634 00:34:24,480 --> 00:34:27,319 Speaker 5: and Walter Berry and Bill Wennington, you know, taking the 635 00:34:27,360 --> 00:34:29,279 Speaker 5: train in with my childhood friends that I still go 636 00:34:29,320 --> 00:34:31,880 Speaker 5: to the games with, sitting in the blue seats of 637 00:34:31,880 --> 00:34:34,880 Speaker 5: Madison Square Garden and seeing you know, you know, Mullen 638 00:34:34,960 --> 00:34:39,040 Speaker 5: versus Ewing, Mullen versus Pearl Washington, Mullen versus at Pickney. 639 00:34:41,239 --> 00:34:43,399 Speaker 5: You know, it was very very special. So I went 640 00:34:43,400 --> 00:34:49,240 Speaker 5: to Saint John's, graduated in ninety one, and Saint John's 641 00:34:49,280 --> 00:34:51,920 Speaker 5: made me feel you know, it was Queen's, it was 642 00:34:51,960 --> 00:34:54,120 Speaker 5: New York, it was you know, at one time they 643 00:34:54,120 --> 00:34:56,160 Speaker 5: were bigger than the Nicks and the Nets in those years, right, 644 00:34:56,200 --> 00:35:00,560 Speaker 5: I mean, and and I tried to help throughout the years. 645 00:35:01,200 --> 00:35:06,279 Speaker 5: And you know, we have had a pretty twenty tough 646 00:35:06,320 --> 00:35:08,719 Speaker 5: twenty twenty five year run. And you know when Father 647 00:35:08,800 --> 00:35:12,040 Speaker 5: Shanley who's the new president, and Bill Jana Chick who's 648 00:35:12,040 --> 00:35:15,440 Speaker 5: the chairman, and Ed Cole who's the best, one of 649 00:35:15,440 --> 00:35:17,600 Speaker 5: the best idea ads in the country, and you know, 650 00:35:17,719 --> 00:35:20,400 Speaker 5: Rick was coming on board. I had a conversation with 651 00:35:20,520 --> 00:35:24,680 Speaker 5: Rick and you know, I listen Rick. You know Rick, 652 00:35:24,840 --> 00:35:28,319 Speaker 5: Rick is amazing. I mean, I'm inspired by Rick. 653 00:35:28,800 --> 00:35:30,239 Speaker 2: You know, Rick motivates me. 654 00:35:30,600 --> 00:35:32,200 Speaker 5: You know, when I get a three am text from 655 00:35:32,239 --> 00:35:35,120 Speaker 5: Rick Patino on a big win or you. 656 00:35:35,040 --> 00:35:36,560 Speaker 2: Know the other day, I guess he teases me. 657 00:35:36,600 --> 00:35:38,879 Speaker 5: He's seventy three years old and he and he sends 658 00:35:38,920 --> 00:35:41,200 Speaker 5: a message it's hey Mike, it's six am, and he's 659 00:35:41,239 --> 00:35:42,640 Speaker 5: videotaping himself at the gym. 660 00:35:42,840 --> 00:35:45,240 Speaker 2: He goes, where are you? I'm waiting for you. So 661 00:35:45,239 --> 00:35:47,320 Speaker 2: so he's taunting him. I mean, he's taunting me that 662 00:35:47,360 --> 00:35:49,960 Speaker 2: I'm not working out like him, and he's so fit. 663 00:35:50,719 --> 00:35:53,800 Speaker 5: You know, he's the coaches that he coached with thirty 664 00:35:53,800 --> 00:35:57,520 Speaker 5: forty years ago I passed away or retired, and now 665 00:35:57,840 --> 00:36:00,520 Speaker 5: he's going for his nine hundredth win. Guys. I mean 666 00:36:00,920 --> 00:36:03,680 Speaker 5: that's how long he started coaching before his son was born. 667 00:36:04,080 --> 00:36:06,560 Speaker 5: And now he's coaching against his son in the Big East. 668 00:36:06,880 --> 00:36:09,839 Speaker 5: So when you talk about noble mentality, you know, it's 669 00:36:09,840 --> 00:36:11,719 Speaker 5: not about fifteen and twenty five at thirty five. 670 00:36:12,160 --> 00:36:15,480 Speaker 2: Rick Pattino at seventy three has that. You know, he's got. 671 00:36:15,520 --> 00:36:17,279 Speaker 5: You know, he you know, you watch him on the 672 00:36:17,320 --> 00:36:20,600 Speaker 5: sideline and he's coaching a game like he's playing. And 673 00:36:21,400 --> 00:36:24,719 Speaker 5: but but you know what I I to me, what 674 00:36:25,080 --> 00:36:28,640 Speaker 5: the ability to give back to Saint John's with how 675 00:36:28,719 --> 00:36:33,080 Speaker 5: much they've impacted and influenced my life. 676 00:36:32,440 --> 00:36:33,360 Speaker 2: And to give back. 677 00:36:33,800 --> 00:36:37,520 Speaker 5: You know, last year, when it started, it started to 678 00:36:37,560 --> 00:36:41,080 Speaker 5: become a nice, little cute Saint John's Queen story. Then 679 00:36:41,120 --> 00:36:43,720 Speaker 5: the momentum built and we started moving games to the garden, 680 00:36:44,160 --> 00:36:48,200 Speaker 5: and Madison Square Garden was packed nineteen two hundred, going crazy. 681 00:36:48,760 --> 00:36:50,719 Speaker 2: I felt like I was back in nineteen eighty five. 682 00:36:50,800 --> 00:36:52,839 Speaker 5: But you know, instead of sitting in the last row, 683 00:36:52,880 --> 00:36:54,200 Speaker 5: I was sitting in the first row, so the seats 684 00:36:54,200 --> 00:36:55,000 Speaker 5: were a little bit better. 685 00:36:55,680 --> 00:36:57,919 Speaker 2: They were more expensive though, as you guys know now 686 00:36:58,040 --> 00:36:58,279 Speaker 2: for me. 687 00:36:59,239 --> 00:37:03,160 Speaker 5: But uh, but to have that feeling and watch people 688 00:37:03,760 --> 00:37:06,560 Speaker 5: you know who we like went to these games when 689 00:37:06,600 --> 00:37:08,840 Speaker 5: they were ten, and now they're with their parents and 690 00:37:08,840 --> 00:37:11,680 Speaker 5: they're thirty five to forty going to the games. Winning 691 00:37:11,760 --> 00:37:14,600 Speaker 5: the Big East regular season, winning the Big East Tournament 692 00:37:14,960 --> 00:37:17,200 Speaker 5: for the first time in forty years, winning an NCAA 693 00:37:17,239 --> 00:37:20,080 Speaker 5: tournament game for twenty five years. You know, to me, like, 694 00:37:20,880 --> 00:37:25,759 Speaker 5: I did this for really for Saint John's in New York. 695 00:37:25,960 --> 00:37:28,400 Speaker 5: I live in Florida now, and I fly in for 696 00:37:28,440 --> 00:37:30,959 Speaker 5: the games and I fly out, and you know, there's 697 00:37:31,000 --> 00:37:34,960 Speaker 5: something about Madison Square Garden and February sixth. 698 00:37:34,680 --> 00:37:37,720 Speaker 2: When we play Yukon, that place is going to be nuts. 699 00:37:37,760 --> 00:37:40,560 Speaker 5: And having those feelings that make me feel like that 700 00:37:40,600 --> 00:37:41,840 Speaker 5: fifteen year old kid that's. 701 00:37:41,760 --> 00:37:42,839 Speaker 2: Up in the blue seats. 702 00:37:43,480 --> 00:37:47,040 Speaker 3: Mike Ripoli, you are the owner of noble. Only thing 703 00:37:47,040 --> 00:37:49,319 Speaker 3: that we were missing was a six pack where we 704 00:37:49,320 --> 00:37:51,200 Speaker 3: could just sit down at the bar and talk for 705 00:37:51,239 --> 00:37:54,520 Speaker 3: another hour. Mike, Thank you, sir for joining us on 706 00:37:54,560 --> 00:37:58,000 Speaker 3: the Bloomberg business of sports. You have dropped so much 707 00:37:58,040 --> 00:37:58,719 Speaker 3: knowledge on us. 708 00:37:58,719 --> 00:38:03,040 Speaker 7: We appreciate that was billionaire entrepreneur and owner of Noble Micropoli. 709 00:38:03,280 --> 00:38:06,080 Speaker 3: Thanks for joining us. What happened to the time for 710 00:38:06,239 --> 00:38:09,439 Speaker 3: Vanessa Perdomo? I'm Michael Barr. Tune in again next week. 711 00:38:09,600 --> 00:38:12,360 Speaker 3: We're the latest on the stories moving big money in 712 00:38:12,400 --> 00:38:15,960 Speaker 3: the world of sports. You are listening to the Bloomberg 713 00:38:16,040 --> 00:38:18,960 Speaker 3: Business of Sports from Bloomberg Radio around 714 00:38:18,960 --> 00:38:21,640 Speaker 7: The world, and don't forget to catch our podcast on 715 00:38:21,719 --> 00:38:28,400 Speaker 7: all your podcast platforms.