1
00:00:00,880 --> 00:00:03,840
Speaker 1: This is the Bloomberg Business of Sports Show. We explored

2
00:00:03,880 --> 00:00:06,440
Speaker 1: the big money issues in the world of sports. Michael Laren,

3
00:00:06,519 --> 00:00:09,600
Speaker 1: I'm Scarlet Food, and Damien sass Hour on the show.

4
00:00:09,640 --> 00:00:13,080
Speaker 1: Today we talk compensation for student athletes. Well, you're from

5
00:00:13,119 --> 00:00:16,040
Speaker 1: Jim Cavell, who started a platform designed to help student

6
00:00:16,079 --> 00:00:19,079
Speaker 1: athletes build their personal brands and navigate an I l

7
00:00:19,280 --> 00:00:21,759
Speaker 1: All of that is straight ahead on the Bloomberg Business

8
00:00:21,760 --> 00:00:24,680
Speaker 1: of Sports Show. But first we hit on some of

9
00:00:24,760 --> 00:00:28,360
Speaker 1: the big headlines this week, starting with the sale of

10
00:00:28,440 --> 00:00:32,120
Speaker 1: the NBA's Phoenix Suns. The details of a four billion

11
00:00:32,159 --> 00:00:36,000
Speaker 1: dollar deal for matt Ishbia to take control of both

12
00:00:36,040 --> 00:00:39,919
Speaker 1: the Phoenix Suns and the w NBA's Phoenix Mercury are

13
00:00:39,920 --> 00:00:43,040
Speaker 1: being worked out. For more on what we know, we

14
00:00:43,159 --> 00:00:46,159
Speaker 1: turned to Bloomberg's Brian Chapatta. Brian, thank you so much

15
00:00:46,159 --> 00:00:48,639
Speaker 1: for joining us on the Bloomberg Business Sports Thanks. Big

16
00:00:48,680 --> 00:00:51,520
Speaker 1: deal indeed, Oh my goodness, here we go, another big

17
00:00:51,560 --> 00:00:55,120
Speaker 1: deal of more billions and billions and billions of dollars.

18
00:00:55,320 --> 00:00:59,160
Speaker 1: This isn't gonna stop until the earth stops spinning. Yeah,

19
00:00:59,200 --> 00:01:01,560
Speaker 1: I mean, I think what's really interesting about this deal

20
00:01:01,840 --> 00:01:05,120
Speaker 1: is for four billion dollars that's pretty high for the

21
00:01:05,120 --> 00:01:08,040
Speaker 1: Phoenix suns Um some of the valuation services out there

22
00:01:08,400 --> 00:01:10,800
Speaker 1: had them at roughly three billion. I mean just last

23
00:01:10,880 --> 00:01:14,000
Speaker 1: year they were valued at one point five five billion

24
00:01:14,120 --> 00:01:17,679
Speaker 1: in a minority sale. So when you think about four billion,

25
00:01:17,760 --> 00:01:20,920
Speaker 1: it really goes to show kind of just how frenetic

26
00:01:20,959 --> 00:01:24,319
Speaker 1: the paces right now among the billionaire class trying to

27
00:01:24,360 --> 00:01:27,839
Speaker 1: get a sports get a sports franchise. Frankly and matt

28
00:01:27,959 --> 00:01:31,280
Speaker 1: Ishbiah who is going to take control of the teams.

29
00:01:31,959 --> 00:01:33,839
Speaker 1: What do we know about him? Yes, he's a billionaire,

30
00:01:33,920 --> 00:01:36,640
Speaker 1: but I don't recall seeing his name come up a

31
00:01:36,640 --> 00:01:39,520
Speaker 1: lot as a potential buyer for any of these franchises

32
00:01:39,520 --> 00:01:42,000
Speaker 1: that do come up for sale. Yeah, he's been in

33
00:01:42,040 --> 00:01:44,760
Speaker 1: the background for a few of these franchise sales, so

34
00:01:44,760 --> 00:01:46,360
Speaker 1: it seems like maybe this was the one where he

35
00:01:46,400 --> 00:01:49,240
Speaker 1: really just through the highest number that he could just

36
00:01:49,320 --> 00:01:53,320
Speaker 1: to lock one down. Um, he became a billionaire via

37
00:01:53,400 --> 00:01:56,680
Speaker 1: spack sale during their heyday in uh in twenty. His

38
00:01:56,720 --> 00:02:01,080
Speaker 1: father founded United Wholesale Mortgage back in mid nineteen eighties.

39
00:02:01,280 --> 00:02:04,880
Speaker 1: But um, it was actually just the spack sale that

40
00:02:04,880 --> 00:02:07,440
Speaker 1: that made him a billionaire. It was actually interesting because

41
00:02:07,480 --> 00:02:11,280
Speaker 1: it went public via spack through Alec Gore's, who is

42
00:02:11,360 --> 00:02:14,560
Speaker 1: the brother of the Detroit Pistons owner Tom Gores. So

43
00:02:14,560 --> 00:02:16,639
Speaker 1: there's actually a lot of really interesting connections when you

44
00:02:16,639 --> 00:02:19,440
Speaker 1: actually dig a little bit deeper, uh into Matt Ishbiah,

45
00:02:19,440 --> 00:02:22,320
Speaker 1: who himself was a walk on basketball player at Michigan State.

46
00:02:22,400 --> 00:02:24,840
Speaker 1: Bars Ears just perked up, by the way, Yeah, when

47
00:02:24,880 --> 00:02:28,079
Speaker 1: you said Michigan State and the Detroit Pistons and I'm sorry,

48
00:02:28,360 --> 00:02:32,280
Speaker 1: I'm sorry, and Toms and Tom no, no no, please

49
00:02:32,320 --> 00:02:34,960
Speaker 1: please continue. So Brian, for me, the real question here

50
00:02:35,000 --> 00:02:37,919
Speaker 1: is if I'm reading this correctly, four billion dollar price

51
00:02:38,000 --> 00:02:42,000
Speaker 1: tag gets gets both the Phoenix Suns and the Phoenix Mercury.

52
00:02:42,040 --> 00:02:45,040
Speaker 1: Of course Britney Grinder plays for the Mercury. But you know,

53
00:02:45,080 --> 00:02:47,080
Speaker 1: if you look at it relative to what jokes I

54
00:02:47,120 --> 00:02:50,200
Speaker 1: paid for the Brooklyn Nets back in ten, which was

55
00:02:50,400 --> 00:02:53,520
Speaker 1: three point three billion dollars, he also got the Barkley Center,

56
00:02:53,520 --> 00:02:56,760
Speaker 1: and I don't believe, um, you know, this deal includes

57
00:02:56,880 --> 00:02:58,959
Speaker 1: a stadium. So I wonder, I mean, is this is

58
00:02:59,000 --> 00:03:01,760
Speaker 1: this price tag eight? Is this I mean, is it

59
00:03:01,800 --> 00:03:06,800
Speaker 1: possible that that Matt was over paying? Where the sounds

60
00:03:07,040 --> 00:03:09,640
Speaker 1: I mean, like I said, it's it does seem pretty

61
00:03:09,680 --> 00:03:12,160
Speaker 1: high relative to where the valuations of the team were

62
00:03:12,240 --> 00:03:15,480
Speaker 1: just last year in the minority sale. UM. I mean

63
00:03:15,480 --> 00:03:18,160
Speaker 1: one thing to note, uh, is I believe that Josi

64
00:03:18,320 --> 00:03:21,760
Speaker 1: got basically a control of the entire Brooklyn Nuts franchise

65
00:03:21,800 --> 00:03:25,520
Speaker 1: he had already owned and just got. The other um

66
00:03:25,520 --> 00:03:28,480
Speaker 1: our understanding with this deal is it's somewhere north of

67
00:03:28,520 --> 00:03:32,720
Speaker 1: fifty from Matt Ishbia and his brother Justin um, possibly

68
00:03:32,760 --> 00:03:35,640
Speaker 1: around six. So when you think about that, uh, the

69
00:03:35,680 --> 00:03:39,240
Speaker 1: actual overall uh you know, cost for them straight up

70
00:03:39,600 --> 00:03:42,040
Speaker 1: in terms of the franchise is probably ends up being

71
00:03:42,120 --> 00:03:46,400
Speaker 1: roughly around the same as Josi paid for his stake. So, um,

72
00:03:46,480 --> 00:03:48,280
Speaker 1: you know, we're kind of hesitant to call it. It's

73
00:03:48,320 --> 00:03:50,720
Speaker 1: definitely one of the biggest deals ever in the n

74
00:03:50,760 --> 00:03:52,680
Speaker 1: b A and obviously one of the biggest deals in

75
00:03:52,720 --> 00:03:56,640
Speaker 1: any professional US sport league. Um, but it's it's kind

76
00:03:56,640 --> 00:03:58,360
Speaker 1: of in that ballpark. But to your point, I mean,

77
00:03:58,640 --> 00:04:00,960
Speaker 1: the nets are are are more val franchise, and especially

78
00:04:00,960 --> 00:04:02,520
Speaker 1: when you throw in the Bark Lights Center real estate

79
00:04:02,520 --> 00:04:04,760
Speaker 1: on top of that. This is a little delicate question,

80
00:04:04,880 --> 00:04:07,920
Speaker 1: but the w n b a's Phoenix Mercury and because

81
00:04:08,120 --> 00:04:13,120
Speaker 1: of the Brittany Grinder's story now that team Obviously many

82
00:04:13,200 --> 00:04:16,520
Speaker 1: people know about the Phoenix Mercury. Forgive me for putting

83
00:04:16,520 --> 00:04:20,160
Speaker 1: it this way, and thank god that Grinder's back home

84
00:04:20,200 --> 00:04:23,880
Speaker 1: now in the US. Has the valuation of that team

85
00:04:23,920 --> 00:04:28,080
Speaker 1: just simply from the publicity raised the valuation of it.

86
00:04:28,440 --> 00:04:30,440
Speaker 1: I mean, that's a really interesting question and one of

87
00:04:30,440 --> 00:04:33,159
Speaker 1: the things that I was trying to figure out but

88
00:04:33,520 --> 00:04:36,000
Speaker 1: unfortunately just have no insight into it just yet. Is

89
00:04:36,080 --> 00:04:38,520
Speaker 1: kind of the breakdown between kind of the valuation of

90
00:04:38,520 --> 00:04:41,160
Speaker 1: the Sun's versus the valuation of the Mercury in this

91
00:04:41,200 --> 00:04:46,360
Speaker 1: whole package deal. Because Robert Sarverum owned both franchises obviously, uh,

92
00:04:46,360 --> 00:04:48,600
Speaker 1: and now the issue be as will as well. UM.

93
00:04:48,680 --> 00:04:50,920
Speaker 1: But I think the moral the story, as you guys

94
00:04:50,920 --> 00:04:54,559
Speaker 1: have chronicled throughout this past year, is that women's sports

95
00:04:54,600 --> 00:04:56,640
Speaker 1: has become much more high profile. There's been a lot

96
00:04:56,640 --> 00:04:58,480
Speaker 1: of focus on it, and there's been a lot of

97
00:04:58,480 --> 00:05:01,320
Speaker 1: money thrown in the space, um in anticipation that will

98
00:05:01,360 --> 00:05:04,279
Speaker 1: only grow. So UM, I think it stands to reason

99
00:05:04,360 --> 00:05:07,920
Speaker 1: that the Phoenix Mercury's valuation will will likely to continue

100
00:05:08,400 --> 00:05:11,679
Speaker 1: on the trajectory that broadly women's sports has. There's another

101
00:05:12,000 --> 00:05:16,200
Speaker 1: big sports story, the Master says live players can now

102
00:05:16,560 --> 00:05:21,400
Speaker 1: also play in the Master's coming up in augusta straight

103
00:05:21,440 --> 00:05:26,520
Speaker 1: ahead about sixteen players involved. What does that mean for

104
00:05:26,640 --> 00:05:31,440
Speaker 1: the marriage of the p g A and for live

105
00:05:31,560 --> 00:05:34,440
Speaker 1: golf or what will it still be a strange let's

106
00:05:34,440 --> 00:05:37,560
Speaker 1: put it that way. I mean, I mean, I think

107
00:05:37,600 --> 00:05:40,040
Speaker 1: it was. It would have been really a bad look

108
00:05:40,080 --> 00:05:41,840
Speaker 1: probably for the p g A if they were to

109
00:05:42,120 --> 00:05:45,240
Speaker 1: ban them. I mean my understanding was that, um, you know,

110
00:05:45,440 --> 00:05:48,120
Speaker 1: if you qualified, you know you're in, and I think

111
00:05:48,160 --> 00:05:51,000
Speaker 1: you have to just It's it's a really tough situation

112
00:05:51,120 --> 00:05:53,840
Speaker 1: for for the PGA because I think it's it's a

113
00:05:53,880 --> 00:05:55,520
Speaker 1: lion has been we want to do what's best for

114
00:05:55,560 --> 00:05:58,240
Speaker 1: golf long term. And I think kind of you know,

115
00:05:58,480 --> 00:06:01,839
Speaker 1: being punitive, what kind of diminish that that stands a

116
00:06:01,839 --> 00:06:05,240
Speaker 1: little bit. The Masters needs to show its independence, right,

117
00:06:05,640 --> 00:06:08,599
Speaker 1: it's not beholden to the p g A. Yeah, exactly

118
00:06:08,800 --> 00:06:10,600
Speaker 1: what this does do is it opens the door obviously

119
00:06:10,800 --> 00:06:14,559
Speaker 1: for players like Bryson Desmbo Brooks, Captus Ergio Garcia, past

120
00:06:14,600 --> 00:06:17,000
Speaker 1: winners and you know, you know people have one other

121
00:06:17,040 --> 00:06:20,400
Speaker 1: majors like Cam Smith to to to participate in the Masters.

122
00:06:20,440 --> 00:06:21,960
Speaker 1: But what does this mean for the fed X Cup.

123
00:06:22,000 --> 00:06:24,200
Speaker 1: What does this mean for the balance of the PGA

124
00:06:24,240 --> 00:06:26,440
Speaker 1: tour over the course of I think that's the remains

125
00:06:26,440 --> 00:06:29,920
Speaker 1: in question. Special thanks for Brian Japona for taking us

126
00:06:29,960 --> 00:06:33,279
Speaker 1: through that story. Now we turn to the NFL and

127
00:06:33,320 --> 00:06:36,640
Speaker 1: they just ain't a big deal granting the rights to

128
00:06:36,760 --> 00:06:41,280
Speaker 1: their massive Sunday ticket package to YouTube. For more, we

129
00:06:41,440 --> 00:06:44,200
Speaker 1: turned to Bloomberg's Chris Paul Mary. Chris, thank you for

130
00:06:44,279 --> 00:06:48,359
Speaker 1: joining us on the Bloomberg Business of Sports anytime. This

131
00:06:48,520 --> 00:06:51,960
Speaker 1: is huge. I mean it's we have talked about many

132
00:06:52,080 --> 00:07:00,279
Speaker 1: streaming services joining sports and from football to baseball, what her.

133
00:07:00,560 --> 00:07:04,640
Speaker 1: But this is huge, especially for YouTube. Yeah. You know,

134
00:07:04,720 --> 00:07:07,120
Speaker 1: this is in a way sort of a symbolic passing

135
00:07:07,160 --> 00:07:09,320
Speaker 1: of the torch. I mean Direct TV, which was the

136
00:07:09,320 --> 00:07:11,920
Speaker 1: current brights holder, was that, you know it innovative satellite

137
00:07:11,960 --> 00:07:14,640
Speaker 1: TV service in its day, but they just couldn't afford

138
00:07:14,680 --> 00:07:18,239
Speaker 1: this anymore. And so now we have YouTube tv, which

139
00:07:18,280 --> 00:07:21,200
Speaker 1: is an online equivalent of cable TV. You know, you

140
00:07:21,320 --> 00:07:24,040
Speaker 1: pay sixty five bucks a month and get under channels,

141
00:07:24,360 --> 00:07:28,320
Speaker 1: but it's all streamed and uh and and they're they're

142
00:07:28,320 --> 00:07:30,480
Speaker 1: taking over the range for this in a seven year deal.

143
00:07:31,200 --> 00:07:34,880
Speaker 1: Chris it's an old man like me. It's like, you know,

144
00:07:34,960 --> 00:07:37,440
Speaker 1: if I still have the old rabbit Eers TV, it's

145
00:07:37,520 --> 00:07:42,040
Speaker 1: like catch up, grandpa, because it is passing you by.

146
00:07:42,120 --> 00:07:44,600
Speaker 1: We know you love sports, so you better get on

147
00:07:44,640 --> 00:07:48,160
Speaker 1: the streaming bandwagon here if you want to watch what

148
00:07:48,360 --> 00:07:50,960
Speaker 1: you have to do. But man, it's it's so many

149
00:07:51,000 --> 00:07:55,280
Speaker 1: platforms out there for sports fans to follow. You know,

150
00:07:55,360 --> 00:07:57,240
Speaker 1: this is a careful what you wish for. We all

151
00:07:57,280 --> 00:08:00,400
Speaker 1: complained that cable TV was too expensive that now you know,

152
00:08:00,480 --> 00:08:03,400
Speaker 1: totally balkanized, and now we've got to figure out I

153
00:08:03,440 --> 00:08:06,840
Speaker 1: need an Amazon subscription, I need a YouTube subscription, I

154
00:08:06,880 --> 00:08:09,320
Speaker 1: need an Apple subscription in addition to all the other

155
00:08:09,840 --> 00:08:13,480
Speaker 1: broadcast channels. So yeah, it's it's very difficult to figure

156
00:08:13,520 --> 00:08:15,720
Speaker 1: out which game is on where that is. Now. I

157
00:08:15,760 --> 00:08:18,480
Speaker 1: know it sounds silly for a guy like me. It's like, Okay,

158
00:08:18,520 --> 00:08:20,200
Speaker 1: I gotta go buy a TV, but I gotta make

159
00:08:20,240 --> 00:08:23,440
Speaker 1: sure now the TV which will help me out has

160
00:08:23,560 --> 00:08:30,000
Speaker 1: those streaming services like a Netflix or Google or or YouTube,

161
00:08:30,360 --> 00:08:32,200
Speaker 1: just to make sure that I can just switch to

162
00:08:32,280 --> 00:08:36,000
Speaker 1: that channel and make it easy for me to watch, right,

163
00:08:36,040 --> 00:08:37,640
Speaker 1: I know. And even if you get Roku, which is

164
00:08:37,640 --> 00:08:39,920
Speaker 1: supposed to help you figure it all out. It's still doesn't.

165
00:08:39,920 --> 00:08:42,679
Speaker 1: That's only connected everything. So yeah, these are these are

166
00:08:42,679 --> 00:08:44,839
Speaker 1: the challenges that we're all we're all gonna face. But

167
00:08:45,400 --> 00:08:48,040
Speaker 1: but you know, this is the last big deal of

168
00:08:48,080 --> 00:08:50,720
Speaker 1: the NFL rights, you know, sort of for this cycle.

169
00:08:50,840 --> 00:08:54,160
Speaker 1: Last year, they they screwed all the broadcast ones and

170
00:08:54,160 --> 00:08:57,480
Speaker 1: that included you know, Amazon for Thursday Night football. And

171
00:08:57,520 --> 00:08:59,000
Speaker 1: so now we pretty much have a sense of where

172
00:08:59,000 --> 00:09:01,240
Speaker 1: it's going to go at least into the NFL for

173
00:09:01,280 --> 00:09:04,200
Speaker 1: the next few years. And uh, and there's a big

174
00:09:04,240 --> 00:09:06,679
Speaker 1: presence online and it's going to continue to be a

175
00:09:06,679 --> 00:09:10,120
Speaker 1: lot of the major podcast networks like the cps, you know,

176
00:09:10,440 --> 00:09:13,800
Speaker 1: have an NBC have you know, streaming arms and so

177
00:09:13,920 --> 00:09:17,000
Speaker 1: you can also watch games on Peacock or Paramount Plus.

178
00:09:17,040 --> 00:09:20,280
Speaker 1: And so that that's the evolution we're seeing here. And

179
00:09:20,360 --> 00:09:22,959
Speaker 1: so fortunately the NFL is smart enough to do it

180
00:09:23,040 --> 00:09:25,600
Speaker 1: sort of gradually that we put everything online it wants

181
00:09:26,040 --> 00:09:28,280
Speaker 1: and so there's uh, just a lot of options with

182
00:09:28,360 --> 00:09:31,520
Speaker 1: really people watch. Thanks again to both Brian Japana and

183
00:09:31,600 --> 00:09:34,360
Speaker 1: Chris Paul Mary for joining the show. Coming up, we

184
00:09:34,480 --> 00:09:38,319
Speaker 1: shipped to compensation for college athletes and n I L

185
00:09:38,640 --> 00:09:41,120
Speaker 1: that's straight ahead on the Bloomberg Business of Sports show

186
00:09:41,120 --> 00:09:50,200
Speaker 1: from Bloomberg Radio around the world, we're gonna talk Influencer,

187
00:09:50,840 --> 00:09:53,880
Speaker 1: what that is and what it's all about, and the

188
00:09:53,920 --> 00:09:57,440
Speaker 1: man that founded it and the chief executive officer of it,

189
00:09:57,920 --> 00:10:01,640
Speaker 1: Jim caval Welcome to the Bloomberg Business of Sports. Thanks

190
00:10:01,679 --> 00:10:04,760
Speaker 1: so much for having me. So let's start from the basics,

191
00:10:05,160 --> 00:10:08,840
Speaker 1: old man bar here, what's Influencer mobile app and what's

192
00:10:08,880 --> 00:10:11,400
Speaker 1: that all about? Well, Influencers an app and now more

193
00:10:11,440 --> 00:10:14,680
Speaker 1: than one hundred thousand student athletes and UH and also

194
00:10:14,760 --> 00:10:17,480
Speaker 1: pro athletes have on their phone and it's purchased by

195
00:10:17,520 --> 00:10:20,360
Speaker 1: the team they play for, whether it's a proer college team,

196
00:10:20,360 --> 00:10:23,800
Speaker 1: as a software piece to help the athlete really build

197
00:10:23,840 --> 00:10:27,040
Speaker 1: their brand on social media and manage their n I

198
00:10:27,240 --> 00:10:31,160
Speaker 1: L or name, image and likeness endorsement business. And so

199
00:10:31,400 --> 00:10:33,800
Speaker 1: we we work pro in college, but we have a big,

200
00:10:33,840 --> 00:10:36,439
Speaker 1: big piece of our business that's focused on more than

201
00:10:36,440 --> 00:10:39,840
Speaker 1: two D college programs, more than three thousand college teams

202
00:10:40,040 --> 00:10:43,080
Speaker 1: at the Division one level, and those teams need to

203
00:10:43,080 --> 00:10:46,840
Speaker 1: provide tech that helps their athletes a get content shot

204
00:10:46,840 --> 00:10:50,800
Speaker 1: of them playing and practicing because they as athletes want

205
00:10:50,800 --> 00:10:52,520
Speaker 1: to use that content and share it to their social

206
00:10:52,600 --> 00:10:55,520
Speaker 1: platforms like Instagram and Twitter and snapchat, and so our

207
00:10:55,559 --> 00:10:58,400
Speaker 1: app is is how those teams deliver all of that

208
00:10:58,520 --> 00:11:00,440
Speaker 1: content to their athletes so they can share at the

209
00:11:00,440 --> 00:11:02,920
Speaker 1: social and and that's really the brand building piece of

210
00:11:02,960 --> 00:11:06,160
Speaker 1: Influencer that we've done since seventeen. It's it's how we

211
00:11:06,240 --> 00:11:09,040
Speaker 1: got trust for more than two hundred college programs and

212
00:11:09,080 --> 00:11:12,760
Speaker 1: three thousand college teams across the country before the recent

213
00:11:12,960 --> 00:11:17,040
Speaker 1: n i L legislation passed which allowed student athletes starting

214
00:11:17,040 --> 00:11:20,839
Speaker 1: in July to make money with their name, image and likeness,

215
00:11:20,840 --> 00:11:23,520
Speaker 1: and now Influencer also helps with that. And what we

216
00:11:23,559 --> 00:11:26,319
Speaker 1: do is really we're the app where student athletes are found,

217
00:11:26,480 --> 00:11:29,840
Speaker 1: communicated with, contracted within paid for all of their n

218
00:11:29,840 --> 00:11:33,680
Speaker 1: i L transactions from donors, fans, businesses who want to

219
00:11:33,679 --> 00:11:36,400
Speaker 1: work with them, and we're the reporting tool they used

220
00:11:36,400 --> 00:11:38,720
Speaker 1: to pay their taxes and where all the data is

221
00:11:38,720 --> 00:11:41,040
Speaker 1: for the coaches and compliance officers at each school to

222
00:11:41,120 --> 00:11:44,400
Speaker 1: use for recruiting and regulatory purposes. So it's it's been

223
00:11:44,400 --> 00:11:46,360
Speaker 1: a fun ride so far, and we're excited to be

224
00:11:46,400 --> 00:11:47,960
Speaker 1: a part of this this new n i L era

225
00:11:48,080 --> 00:11:50,800
Speaker 1: that began so interesting. You were set up before and

226
00:11:51,240 --> 00:11:54,400
Speaker 1: I'L became a thing because before it became something that

227
00:11:54,720 --> 00:11:57,679
Speaker 1: the athletes could profit off of. Was that the intention?

228
00:11:57,800 --> 00:12:00,800
Speaker 1: Did you know that that was something that is a

229
00:12:00,840 --> 00:12:05,120
Speaker 1: possibility when you began this journey? Yeah, I did, Um,

230
00:12:05,160 --> 00:12:07,600
Speaker 1: I didn't know when I I can't tell you that,

231
00:12:07,640 --> 00:12:11,600
Speaker 1: but you know, I've always been an ENTREPRENEURSS college. I've

232
00:12:11,640 --> 00:12:14,160
Speaker 1: built and sold a few businesses. I've had my failures,

233
00:12:14,520 --> 00:12:16,559
Speaker 1: and probably the biggest thing I learned and learned to

234
00:12:16,600 --> 00:12:18,920
Speaker 1: playing college baseball as I did as well, is you're

235
00:12:18,920 --> 00:12:23,160
Speaker 1: going to foul um. But timing is everything, and the

236
00:12:23,280 --> 00:12:27,199
Speaker 1: way to decrease the risk is is have great timing. Right.

237
00:12:27,240 --> 00:12:29,679
Speaker 1: And so my last business was in fitness. I had

238
00:12:29,720 --> 00:12:33,320
Speaker 1: a fifty gym chain um and one of our gym's

239
00:12:33,880 --> 00:12:36,240
Speaker 1: a member was the commissioner of the SEC still is

240
00:12:36,280 --> 00:12:41,320
Speaker 1: Greg Sanky and uh he obandoned. Yeah yeah, So so

241
00:12:41,440 --> 00:12:43,680
Speaker 1: Greg was the first person that told me about the

242
00:12:43,800 --> 00:12:46,880
Speaker 1: ed obandoned case and uh. And so I started to

243
00:12:46,920 --> 00:12:50,680
Speaker 1: study it and what I realized was and I L

244
00:12:50,800 --> 00:12:52,920
Speaker 1: was really not a matter of if, but when and

245
00:12:53,080 --> 00:12:55,920
Speaker 1: whenever the when was going to be, it was going

246
00:12:55,960 --> 00:12:58,040
Speaker 1: to cause a lot of pain and disruption for the

247
00:12:58,040 --> 00:13:01,640
Speaker 1: college athletics industry, and at that time two thousand and sixteen,

248
00:13:02,160 --> 00:13:04,440
Speaker 1: social media was already a very big part of the

249
00:13:04,440 --> 00:13:08,040
Speaker 1: student athlete life and student athlete brand on social really

250
00:13:08,080 --> 00:13:10,560
Speaker 1: represents the schools brand, and so we figured out a

251
00:13:10,559 --> 00:13:13,679
Speaker 1: way to start a company and influencer that focused on

252
00:13:13,720 --> 00:13:16,760
Speaker 1: the student athletes social media and gave the school something

253
00:13:16,800 --> 00:13:20,760
Speaker 1: they could buy to enhance and support the student athletes

254
00:13:20,840 --> 00:13:23,439
Speaker 1: brand growth on social media during their time at the institution,

255
00:13:23,480 --> 00:13:25,920
Speaker 1: while also helping the institution in the school and their

256
00:13:25,960 --> 00:13:29,800
Speaker 1: team reach more recruits, reach more fans through the student athletes,

257
00:13:30,160 --> 00:13:33,720
Speaker 1: and so by delivering content to athletes in sev and beyond,

258
00:13:33,920 --> 00:13:37,000
Speaker 1: we earned trust from schools to be in a position where, yeah,

259
00:13:37,080 --> 00:13:39,000
Speaker 1: when that i LL ever happens, we want to help

260
00:13:39,040 --> 00:13:41,200
Speaker 1: with that too. And of course it took a few years,

261
00:13:41,240 --> 00:13:43,680
Speaker 1: but then one happened and we were in a position

262
00:13:43,720 --> 00:13:46,000
Speaker 1: to be there be a solution for it. Jim, I

263
00:13:46,000 --> 00:13:47,280
Speaker 1: wonder if you could talk to us a little bit

264
00:13:47,320 --> 00:13:50,760
Speaker 1: about how the schools themselves manage their social media presence,

265
00:13:50,800 --> 00:13:53,679
Speaker 1: manage their brands. Have you seen evolution on that front?

266
00:13:53,679 --> 00:13:56,680
Speaker 1: I mean, clearly, influencer is paid for by the school itself.

267
00:13:56,720 --> 00:13:59,679
Speaker 1: Clearly you would think the school is putting out content

268
00:13:59,840 --> 00:14:02,240
Speaker 1: and you know, wants that content sort of to find

269
00:14:02,240 --> 00:14:05,280
Speaker 1: its way into their individual brands of their individual athletes.

270
00:14:05,320 --> 00:14:07,880
Speaker 1: I mean, it's are you finding that they're evolving, that

271
00:14:07,880 --> 00:14:11,840
Speaker 1: that there's talented people at the university that are producing

272
00:14:11,880 --> 00:14:14,240
Speaker 1: social content or is that something that is kind of

273
00:14:14,280 --> 00:14:16,720
Speaker 1: you know, kind of you know, moving and going forward

274
00:14:16,760 --> 00:14:20,760
Speaker 1: as as as as time goes, Oh, that's mainstream now.

275
00:14:21,080 --> 00:14:23,960
Speaker 1: I would say in ten, when I started working on

276
00:14:24,040 --> 00:14:27,240
Speaker 1: selling uh my fitness business and going all in on

277
00:14:27,320 --> 00:14:30,720
Speaker 1: building influencer, my biggest risk was how much content our

278
00:14:30,760 --> 00:14:33,720
Speaker 1: schools going to create? How many schools have the staff

279
00:14:33,760 --> 00:14:35,880
Speaker 1: to produce enough content for us to sell a product

280
00:14:35,880 --> 00:14:38,360
Speaker 1: that delivers content to athletes. And the ways we counted

281
00:14:38,400 --> 00:14:40,440
Speaker 1: it back then was partnering with the USA today or

282
00:14:40,480 --> 00:14:42,920
Speaker 1: getting images or some of the credential media that are

283
00:14:42,960 --> 00:14:44,960
Speaker 1: at the events too, so we had content from them

284
00:14:44,960 --> 00:14:47,880
Speaker 1: for the athletes to use. But over time, every school

285
00:14:47,920 --> 00:14:50,600
Speaker 1: now is a media company. They have a bunch of

286
00:14:50,640 --> 00:14:54,800
Speaker 1: content producers per sport churning out content that athletes can use.

287
00:14:55,360 --> 00:14:57,200
Speaker 1: Um And in the bigger picture, even if n I

288
00:14:57,400 --> 00:15:00,600
Speaker 1: l you know, schools are in the student an athlete

289
00:15:01,120 --> 00:15:05,360
Speaker 1: support business, and while some in the public might think

290
00:15:05,400 --> 00:15:07,880
Speaker 1: that schools don't work with student athletes, that's really why

291
00:15:07,960 --> 00:15:11,240
Speaker 1: they exist, right. Higher ed is all about maximizing the

292
00:15:11,240 --> 00:15:15,480
Speaker 1: potential of a young person, and college athletics should be

293
00:15:15,520 --> 00:15:18,360
Speaker 1: all about maximizing the potential of student athletes. So having

294
00:15:18,400 --> 00:15:21,040
Speaker 1: more and more support staff not just to produce content,

295
00:15:21,280 --> 00:15:23,600
Speaker 1: but to help answer questions about n i L, help

296
00:15:23,720 --> 00:15:26,720
Speaker 1: educate athletes about n i L, and help set them

297
00:15:26,840 --> 00:15:29,080
Speaker 1: up to really use these skills. Are learning from doing

298
00:15:29,080 --> 00:15:31,640
Speaker 1: some n i L business as a college athlete in

299
00:15:31,680 --> 00:15:35,160
Speaker 1: their career, so that they've left with an opportunity in

300
00:15:35,160 --> 00:15:38,040
Speaker 1: the foundation to build their career off. That's a huge

301
00:15:38,120 --> 00:15:40,360
Speaker 1: way to live out that mission. There's gonna be a

302
00:15:40,360 --> 00:15:43,280
Speaker 1: big change at the top for the n c double

303
00:15:43,360 --> 00:15:49,680
Speaker 1: A as president outgoing President Mark Emmett stepping down in

304
00:15:49,680 --> 00:15:55,360
Speaker 1: incoming Massachusetts Governor Charlie Baker, who is going to wrap

305
00:15:55,520 --> 00:15:59,240
Speaker 1: up his term in a few weeks. So what do

306
00:15:59,360 --> 00:16:04,080
Speaker 1: you see as a change from Baker? Well, I think

307
00:16:04,120 --> 00:16:06,440
Speaker 1: the biggest thing is is, you know, Baker has proven

308
00:16:07,080 --> 00:16:11,280
Speaker 1: um that he understands the political game at all levels,

309
00:16:11,760 --> 00:16:15,400
Speaker 1: and he has a bipartisan foundation that's going to allow

310
00:16:15,480 --> 00:16:18,240
Speaker 1: him to be very relational with everyone in d C

311
00:16:19,000 --> 00:16:21,720
Speaker 1: and become a line between college athletics and the n

312
00:16:21,720 --> 00:16:24,760
Speaker 1: C Double A and Washington d C in ways that

313
00:16:24,800 --> 00:16:27,240
Speaker 1: the n C Double A needs a lot of assistance,

314
00:16:27,320 --> 00:16:29,840
Speaker 1: especially on the anti trust front, and so I think

315
00:16:29,920 --> 00:16:33,480
Speaker 1: his ability to um come in understand where the in

316
00:16:33,680 --> 00:16:36,000
Speaker 1: double A is today, where it was in the past,

317
00:16:36,040 --> 00:16:37,920
Speaker 1: and how it got to where it is today, but

318
00:16:38,000 --> 00:16:40,720
Speaker 1: also creative vision of where the inter double A needs

319
00:16:40,720 --> 00:16:42,560
Speaker 1: to be in the future to stay relevant and be

320
00:16:42,640 --> 00:16:46,120
Speaker 1: the governing body for college athletics, which will include some

321
00:16:46,280 --> 00:16:50,400
Speaker 1: anti trust exemption from d C. I think his ability

322
00:16:50,440 --> 00:16:52,680
Speaker 1: to do that is probably just as good or better

323
00:16:52,720 --> 00:16:55,440
Speaker 1: than anyone else. It still leaves the question of can

324
00:16:55,440 --> 00:16:59,080
Speaker 1: the n C Double A adapt to this future of

325
00:16:59,120 --> 00:17:02,160
Speaker 1: college athletic and still be the governing body for this

326
00:17:02,200 --> 00:17:04,840
Speaker 1: new era. But if there was ever a chance to

327
00:17:04,840 --> 00:17:07,240
Speaker 1: figure that out, this is this is the person to

328
00:17:07,280 --> 00:17:09,640
Speaker 1: do that. Right. Well, that ship might have sailed when

329
00:17:09,640 --> 00:17:12,480
Speaker 1: it comes to football, but certainly they play an instrumental

330
00:17:12,600 --> 00:17:16,400
Speaker 1: role in basketball and college basketball. I'm curious what you

331
00:17:16,440 --> 00:17:20,520
Speaker 1: think of the different n I L legislation taking place

332
00:17:20,680 --> 00:17:25,000
Speaker 1: in Congress, whether it's Senator Murphy's or Senator Tubberville's UM

333
00:17:25,080 --> 00:17:27,800
Speaker 1: in conjunction with Senator Mansion. We don't need to get

334
00:17:27,800 --> 00:17:30,000
Speaker 1: into the specifics of it. But what do you think

335
00:17:30,240 --> 00:17:33,960
Speaker 1: legislation requires? What? What? At the at the very least,

336
00:17:34,119 --> 00:17:36,440
Speaker 1: what does it need to address? Well, at the very least,

337
00:17:36,440 --> 00:17:38,359
Speaker 1: it needs to address what I what I mentioned earlier,

338
00:17:38,400 --> 00:17:41,240
Speaker 1: which is needs to address some of the anti trust

339
00:17:41,280 --> 00:17:47,800
Speaker 1: implications of nt double A governing rules limiting student athletes

340
00:17:47,840 --> 00:17:50,520
Speaker 1: in a way that that you know, is not just right.

341
00:17:50,560 --> 00:17:53,359
Speaker 1: So that's the that's the base. But you know what

342
00:17:53,480 --> 00:17:56,720
Speaker 1: I think about these bills is I think the more

343
00:17:56,880 --> 00:18:01,200
Speaker 1: that that college athletics involves, um, the federal government. First

344
00:18:01,240 --> 00:18:03,120
Speaker 1: of all, they've got to understand the timeline I think

345
00:18:03,119 --> 00:18:06,000
Speaker 1: they are now because things are moving slow as at

346
00:18:06,040 --> 00:18:09,320
Speaker 1: all with any real government support of n I L.

347
00:18:09,400 --> 00:18:12,119
Speaker 1: They've been asking for a you know, federal and I

348
00:18:12,280 --> 00:18:14,400
Speaker 1: L bill for a long time, and there's just bigger things,

349
00:18:14,440 --> 00:18:17,760
Speaker 1: frankly going on in our country, in our world, um

350
00:18:17,800 --> 00:18:20,600
Speaker 1: than than this this issue. UM. The second thing is,

351
00:18:20,600 --> 00:18:22,040
Speaker 1: once it's in I L, a lot of people in

352
00:18:22,080 --> 00:18:25,440
Speaker 1: college athletics are worried about that just opens up Pandora's box.

353
00:18:25,520 --> 00:18:27,920
Speaker 1: And UM, a lot of folks who might not even

354
00:18:28,000 --> 00:18:31,040
Speaker 1: understand how college athletics works might start messing with some

355
00:18:31,119 --> 00:18:33,520
Speaker 1: other components of college athletics that. You know, it's kind

356
00:18:33,520 --> 00:18:36,359
Speaker 1: of like, be careful what you wish for, UM, folks

357
00:18:36,440 --> 00:18:39,680
Speaker 1: in the college athletics realm by getting DC involved UM.

358
00:18:39,720 --> 00:18:41,200
Speaker 1: And there's a lot of people in college athletics that

359
00:18:41,240 --> 00:18:44,080
Speaker 1: are worried about that. My fear is just that, UM.

360
00:18:44,280 --> 00:18:47,480
Speaker 1: You know, the way the media has has written about

361
00:18:47,480 --> 00:18:52,440
Speaker 1: college athletics and about student athlete treatment UM for so

362
00:18:52,480 --> 00:18:54,960
Speaker 1: long has a lot of people, including student athletes and

363
00:18:55,000 --> 00:18:59,080
Speaker 1: their families, but also fans in the general public misunderstanding

364
00:18:59,320 --> 00:19:02,840
Speaker 1: how much is vested into student athletes and how good

365
00:19:03,160 --> 00:19:06,560
Speaker 1: student athletes actually have it today between all of the

366
00:19:06,760 --> 00:19:11,240
Speaker 1: non taxable dollars they get for cost of attendance educated

367
00:19:11,320 --> 00:19:13,080
Speaker 1: related benefits to use a three point oh you can

368
00:19:13,080 --> 00:19:16,119
Speaker 1: now get six thousand dollars a year UM for educator

369
00:19:16,160 --> 00:19:19,399
Speaker 1: related benefits UM. If you qualify, you get financial a

370
00:19:19,520 --> 00:19:22,560
Speaker 1: like a PELL grant. You get unlimited gear, unlimited food

371
00:19:22,880 --> 00:19:26,359
Speaker 1: tuition UM and and I l now and then on

372
00:19:26,440 --> 00:19:28,720
Speaker 1: top of that you can be a free agent every

373
00:19:28,800 --> 00:19:31,800
Speaker 1: year by joining the transfer portal. If we go one

374
00:19:31,840 --> 00:19:34,040
Speaker 1: step further, and some of these bills are calling for

375
00:19:34,080 --> 00:19:38,320
Speaker 1: employment status to happen for student athletes, Um, you lose

376
00:19:38,359 --> 00:19:40,280
Speaker 1: a lot of that, and you're paying for the extra

377
00:19:40,280 --> 00:19:43,080
Speaker 1: pair of sneakers, you're paying for the extra food, you're

378
00:19:43,080 --> 00:19:46,080
Speaker 1: paying for the extra strength coaches, you're paying tuition. Um,

379
00:19:46,119 --> 00:19:48,360
Speaker 1: you're not getting a lot of these tax free dollars,

380
00:19:48,760 --> 00:19:52,040
Speaker 1: and you could be terminated if you don't perform. Let

381
00:19:52,040 --> 00:19:53,720
Speaker 1: alone the fact that it will affect the funding for

382
00:19:53,800 --> 00:19:55,840
Speaker 1: Title nine and a lot of the smaller sports which

383
00:19:55,880 --> 00:19:58,560
Speaker 1: come from these bigger sports that would be now having

384
00:19:58,640 --> 00:20:02,320
Speaker 1: payroll for student fleets. So I fear if we go

385
00:20:02,359 --> 00:20:05,200
Speaker 1: a step further without really thinking it through, we could

386
00:20:05,240 --> 00:20:08,320
Speaker 1: have some bad things occur um for the student athlete,

387
00:20:08,359 --> 00:20:10,280
Speaker 1: for sports that would be canceled, and a lot of

388
00:20:10,280 --> 00:20:13,040
Speaker 1: other things. And so hopefully the people writing these bills

389
00:20:13,080 --> 00:20:15,720
Speaker 1: can study the big picture of college athletics and see

390
00:20:16,160 --> 00:20:18,679
Speaker 1: that we need to support student athletes more than we

391
00:20:18,680 --> 00:20:20,840
Speaker 1: are today. We need to continue to evolve that, but

392
00:20:20,880 --> 00:20:23,200
Speaker 1: we also need to do what we can to make

393
00:20:23,200 --> 00:20:26,880
Speaker 1: this a unique model that thinks about where college athletics

394
00:20:26,920 --> 00:20:29,000
Speaker 1: came from and where it needs to go. Well, Jim,

395
00:20:29,040 --> 00:20:31,520
Speaker 1: influencer now serves if the memory serves me, two D

396
00:20:31,680 --> 00:20:34,280
Speaker 1: div one schools, right, And I think you have a

397
00:20:34,320 --> 00:20:38,080
Speaker 1: directory of nearly sixty four thousand athletes. And you know,

398
00:20:38,160 --> 00:20:41,320
Speaker 1: my question is a simple one. You know, does influencer

399
00:20:41,480 --> 00:20:44,560
Speaker 1: connect athletes with the n I O opportunity or is

400
00:20:44,600 --> 00:20:48,080
Speaker 1: it more about connecting donors and boosters with the athletes.

401
00:20:48,240 --> 00:20:52,520
Speaker 1: It's it's an and or. Essentially, we are a tech

402
00:20:52,600 --> 00:20:55,040
Speaker 1: first company. We are not a marketplace that has a

403
00:20:55,080 --> 00:20:58,639
Speaker 1: sales team selling UM any of these dollars into our

404
00:20:58,680 --> 00:21:01,199
Speaker 1: system so they can connect with athletes. So what we

405
00:21:01,280 --> 00:21:06,000
Speaker 1: do is we build exchanges or marketplaces for each school

406
00:21:06,200 --> 00:21:10,600
Speaker 1: that we work with. And so Michigan has the Victor's Exchange, right,

407
00:21:10,640 --> 00:21:12,760
Speaker 1: And you can go to the Victor's Exchange if you're

408
00:21:12,760 --> 00:21:17,399
Speaker 1: a Michigan UM you know, donor fan, an endemic business

409
00:21:17,440 --> 00:21:20,680
Speaker 1: that supports Michigan athletics. And in there, once you join

410
00:21:20,760 --> 00:21:23,520
Speaker 1: the Victor's Exchange, you can find every Michigan student athlete

411
00:21:23,600 --> 00:21:26,240
Speaker 1: right on their influence around and you can communicate with them,

412
00:21:26,440 --> 00:21:29,760
Speaker 1: contract with them, pay them, and there's no fees taken

413
00:21:29,800 --> 00:21:32,400
Speaker 1: from any deal that comes through the victor's exchange, because

414
00:21:32,440 --> 00:21:36,479
Speaker 1: Michigan pays us to build that exchange for their student

415
00:21:36,480 --> 00:21:39,439
Speaker 1: athletes so that they can keep all the money. And

416
00:21:39,520 --> 00:21:41,439
Speaker 1: that model is what we do across the board for

417
00:21:41,480 --> 00:21:43,639
Speaker 1: all of our institutions, so that we can maximize what

418
00:21:43,760 --> 00:21:45,960
Speaker 1: ends up in the student athletes to wallet and really

419
00:21:45,960 --> 00:21:48,600
Speaker 1: have one focused client paying us, which is the school,

420
00:21:49,160 --> 00:21:51,440
Speaker 1: and so on top of our content delivery software we've

421
00:21:51,440 --> 00:21:55,880
Speaker 1: had since with the school delivering content to the athletes,

422
00:21:56,080 --> 00:21:58,840
Speaker 1: we now build these custom exchanges for each school so

423
00:21:58,920 --> 00:22:01,320
Speaker 1: that they have one system of record for all of

424
00:22:01,359 --> 00:22:03,840
Speaker 1: the dollars endemic to their school to flow through to

425
00:22:03,880 --> 00:22:06,439
Speaker 1: the student athlete, and that way they can track everything

426
00:22:06,440 --> 00:22:09,199
Speaker 1: happening from a compliance standpoint. Their coaches can use that

427
00:22:09,280 --> 00:22:12,400
Speaker 1: data in recruiting conversations in a compliant manner to show

428
00:22:12,440 --> 00:22:15,399
Speaker 1: real results happening with their current roster, and the student

429
00:22:15,440 --> 00:22:17,399
Speaker 1: athlete can use all that data to get a ten

430
00:22:17,480 --> 00:22:19,159
Speaker 1: ninety nine at the end of the r in Paider taxes.

431
00:22:19,240 --> 00:22:20,960
Speaker 1: You brought up an interesting point. I don't we're running

432
00:22:21,000 --> 00:22:23,280
Speaker 1: out of time. I apologize, but you brought up a

433
00:22:23,320 --> 00:22:26,840
Speaker 1: point about if they're not careful how the bill is written.

434
00:22:27,280 --> 00:22:31,520
Speaker 1: The student athlete can be cut from the team now

435
00:22:31,680 --> 00:22:34,640
Speaker 1: right now. I mean, obviously, if the student athlete doesn't

436
00:22:34,640 --> 00:22:36,600
Speaker 1: go out and you know, run around the parking line

437
00:22:36,640 --> 00:22:38,840
Speaker 1: in a big bird suit, you know he'll he'll be

438
00:22:38,880 --> 00:22:42,600
Speaker 1: all right. But you know, if now it comes down

439
00:22:42,600 --> 00:22:46,439
Speaker 1: to performance, yeah he might sit on the bench or she.

440
00:22:47,320 --> 00:22:49,320
Speaker 1: But they're not They're still going to be part of

441
00:22:49,320 --> 00:22:51,800
Speaker 1: the team for the most part. But you're saying now

442
00:22:51,840 --> 00:22:54,480
Speaker 1: that they could be cut if they're not careful. They

443
00:22:54,480 --> 00:22:57,280
Speaker 1: could be cut if they don't perform. If they're employees,

444
00:22:57,520 --> 00:23:00,600
Speaker 1: they'll be able to be terminated. And then sports will

445
00:23:00,640 --> 00:23:05,160
Speaker 1: be cut because funding that comes from football to fund

446
00:23:05,160 --> 00:23:08,120
Speaker 1: a lot of these sports will now be used for payroll.

447
00:23:08,359 --> 00:23:10,600
Speaker 1: And so you know, I'm not saying the school with

448
00:23:10,640 --> 00:23:12,879
Speaker 1: six team sports is going to cancel a bunch of sports,

449
00:23:12,920 --> 00:23:15,199
Speaker 1: not as much as I am saying a school like

450
00:23:15,400 --> 00:23:17,960
Speaker 1: Ohio State that has more than thirty sports is going

451
00:23:18,040 --> 00:23:19,680
Speaker 1: to have to figure out a new budget to keep

452
00:23:19,680 --> 00:23:22,439
Speaker 1: all thirty plus sports. Right, So, you know, these are

453
00:23:22,480 --> 00:23:25,800
Speaker 1: realities that we've got to all look at. Um, there's

454
00:23:25,840 --> 00:23:28,720
Speaker 1: nobody that's more about athlete empowerment than me. That's why

455
00:23:28,760 --> 00:23:31,480
Speaker 1: I sold my successful fitness business, took a huge risk

456
00:23:31,520 --> 00:23:34,040
Speaker 1: and started building Influencer before and I'll started, but I

457
00:23:34,119 --> 00:23:37,320
Speaker 1: want this to be done the right way for the

458
00:23:37,359 --> 00:23:40,399
Speaker 1: student athlete and their future to be maximized, not in

459
00:23:40,400 --> 00:23:43,520
Speaker 1: a way that's about helping the one percent of student

460
00:23:43,520 --> 00:23:47,240
Speaker 1: athletes while hurting a great majority of the others. Jim

461
00:23:47,320 --> 00:23:53,560
Speaker 1: Cavall an interesting perspective, Founder and chief executive officer of Influencer. Jim,

462
00:23:53,600 --> 00:23:55,639
Speaker 1: thank you so much for joining us on the Bloomberg

463
00:23:55,640 --> 00:23:57,760
Speaker 1: Business of Sports and thank you for your knowledge there.

464
00:23:57,800 --> 00:23:59,919
Speaker 1: Thanks for having me. Guys enjoyed it. This has been

465
00:24:00,000 --> 00:24:03,040
Speaker 1: Bloomberg Business of Sports podcast. We explore the big money

466
00:24:03,040 --> 00:24:04,840
Speaker 1: issues in the world of sports on Michael Bar You

467
00:24:04,840 --> 00:24:06,800
Speaker 1: can follow me on Twitter at big Bar Sports and

468
00:24:06,840 --> 00:24:09,080
Speaker 1: I'm on Twitter at Scarlett Food and I'm on Twitter

469
00:24:09,119 --> 00:24:12,000
Speaker 1: at the hour and Hey, if you have a calendar

470
00:24:12,119 --> 00:24:14,400
Speaker 1: right in front of you and you just need the

471
00:24:14,480 --> 00:24:20,359
Speaker 1: days of the week Mondays, Wednesdays and Thursdays, that's where

472
00:24:20,400 --> 00:24:24,240
Speaker 1: the podcast take place. And download them wherever you get

473
00:24:24,240 --> 00:24:25,120
Speaker 1: your podcasts.