1 00:00:00,760 --> 00:00:03,320 Speaker 1: This is the Bloomberg Business of Sports show, but we 2 00:00:03,440 --> 00:00:06,160 Speaker 1: explore the big money issues in the world of sports. 3 00:00:06,200 --> 00:00:08,080 Speaker 2: I'm Michael Waha and I'm Damian Sasau. 4 00:00:08,160 --> 00:00:10,560 Speaker 1: Scarlett Food will be joining us later in the show. 5 00:00:10,560 --> 00:00:14,000 Speaker 1: Coming up, we'll be talking football. We will recap the 6 00:00:14,120 --> 00:00:18,640 Speaker 1: NFL trade deadline with NFL super agent and founder and 7 00:00:18,760 --> 00:00:22,000 Speaker 1: chairman of Steinberg Sports and Entertainment Lee. 8 00:00:21,880 --> 00:00:27,120 Speaker 3: Steinberg College has changed completely because you have collectives at 9 00:00:27,320 --> 00:00:33,839 Speaker 3: major university that are now involved in recruiting and transfer portal. 10 00:00:34,120 --> 00:00:38,599 Speaker 3: So what's happened is that those schools were big, lively 11 00:00:38,880 --> 00:00:43,600 Speaker 3: alum who use her businesses and a collective to give 12 00:00:43,720 --> 00:00:47,000 Speaker 3: money to players. It's completely change. 13 00:00:47,680 --> 00:00:51,239 Speaker 1: Plus, we'll talk about a former NBA champ looking to 14 00:00:51,400 --> 00:00:56,000 Speaker 1: win big in the world of venture capital. That's coming 15 00:00:56,080 --> 00:00:58,720 Speaker 1: up on the Bloomberg Business of Sports. But we have 16 00:00:58,800 --> 00:01:01,720 Speaker 1: a few big lines we need to cover from this 17 00:01:01,800 --> 00:01:05,240 Speaker 1: past week and we do that with friend of the show, 18 00:01:05,319 --> 00:01:08,920 Speaker 1: Bloomberg US sports business reporter Randy Williams. Randall, thank you 19 00:01:09,000 --> 00:01:09,759 Speaker 1: for joining us, my. 20 00:01:09,760 --> 00:01:10,800 Speaker 4: Man, thank you for having me. 21 00:01:10,840 --> 00:01:15,440 Speaker 1: As always, we have to talk about a complicated coach 22 00:01:15,480 --> 00:01:18,920 Speaker 1: but nobody understood him but his players. And we're talking 23 00:01:18,920 --> 00:01:24,920 Speaker 1: about Bobby Knight. He passed several days ago, and let's 24 00:01:24,959 --> 00:01:28,479 Speaker 1: say that he was a brilliant coach and also a 25 00:01:28,480 --> 00:01:31,360 Speaker 1: prickly one. Bobby Night just furs chair. 26 00:01:32,319 --> 00:01:39,600 Speaker 2: We're across a free show line, and I think Fredholable. 27 00:01:39,959 --> 00:01:43,959 Speaker 1: Yes, people remember him for that. But Randall, it's yes, 28 00:01:44,000 --> 00:01:46,039 Speaker 1: he was brilliant, but yes he had a temper. 29 00:01:46,280 --> 00:01:48,600 Speaker 4: Incredible moments we will never forget on both sides. So 30 00:01:48,640 --> 00:01:51,320 Speaker 4: whether it be him coaching or some of the antics. 31 00:01:51,360 --> 00:01:54,160 Speaker 2: Well, I remember him coaching the Olympic gold medal team 32 00:01:54,160 --> 00:01:56,840 Speaker 2: back in eighty four. I mean unbelievable and I mean 33 00:01:57,000 --> 00:01:59,520 Speaker 2: it's amazing, all the all the supporters who have come out, 34 00:01:59,600 --> 00:02:02,320 Speaker 2: you know, upon Bobby Knight's passing, I'm thinking, like Ryszewski, 35 00:02:02,360 --> 00:02:05,160 Speaker 2: a lot of former players. I mean, as tough as 36 00:02:05,160 --> 00:02:08,080 Speaker 2: the general was, he was certainly beloved a Randall for sure. 37 00:02:08,240 --> 00:02:10,400 Speaker 4: For sure, I think he'll go down as one of 38 00:02:10,400 --> 00:02:12,960 Speaker 4: the greatest coaches or maybe one of the most famous 39 00:02:13,000 --> 00:02:13,920 Speaker 4: coaches of all time. 40 00:02:14,160 --> 00:02:17,919 Speaker 1: Yeah. Well, nine hundred wins way up there on the 41 00:02:17,960 --> 00:02:21,359 Speaker 1: winning his coaches five final fours, that's right, won three 42 00:02:21,720 --> 00:02:26,919 Speaker 1: titles for the Hoosiers NZAA Championships, Bobby Knight was eighty 43 00:02:26,960 --> 00:02:30,320 Speaker 1: three years old. And then there's the tales of the 44 00:02:30,400 --> 00:02:34,520 Speaker 1: Texas Rangers. The Rangers have won the World Series. 45 00:02:35,040 --> 00:02:37,560 Speaker 3: He struck him out, looking it's over. 46 00:02:38,120 --> 00:02:42,600 Speaker 2: It's over. The Rangers have won the World Series. Ranger fans, 47 00:02:42,639 --> 00:02:46,480 Speaker 2: you're not dreaming. The Rangers are the World Series champion 48 00:02:46,720 --> 00:02:50,760 Speaker 2: after fifty two years in Texas, sixty three years of 49 00:02:50,760 --> 00:02:55,120 Speaker 2: the franchise. The weight is over and the celebration has begun. 50 00:02:55,960 --> 00:02:59,280 Speaker 1: And Randall, I will admit, maybe the viewer ship wasn't 51 00:02:59,320 --> 00:03:03,240 Speaker 1: as high for the World Series as expected, But congratulations 52 00:03:03,240 --> 00:03:04,160 Speaker 1: to the Texas, right. 53 00:03:04,040 --> 00:03:07,079 Speaker 4: Yeah, I hope They're parade is half as good as 54 00:03:06,600 --> 00:03:07,280 Speaker 4: this was. 55 00:03:08,320 --> 00:03:10,120 Speaker 2: Well, Randall, you know, here's the thing that I find 56 00:03:10,160 --> 00:03:12,120 Speaker 2: most interesting. I mean, forget about the fact that they 57 00:03:12,200 --> 00:03:16,080 Speaker 2: to contend with major, major injuries and thinking all the Garcia, 58 00:03:16,280 --> 00:03:18,920 Speaker 2: Max Schurz, or et cetera. They won. If I'm not 59 00:03:19,440 --> 00:03:22,120 Speaker 2: if I'm not mistaken, they were eleven and oh on 60 00:03:22,200 --> 00:03:25,080 Speaker 2: the road this postseason. I mean, talk to me about 61 00:03:25,400 --> 00:03:28,120 Speaker 2: I mean, is there even a home field advantage left 62 00:03:28,320 --> 00:03:29,360 Speaker 2: in Major League Baseball? 63 00:03:29,919 --> 00:03:33,040 Speaker 4: It's remarkable, not for them, at least they the home 64 00:03:33,040 --> 00:03:36,440 Speaker 4: field advantage just completely disappeared, and I think they really 65 00:03:36,480 --> 00:03:40,440 Speaker 4: just got comfortable with it. And sometimes teams adopt this 66 00:03:40,520 --> 00:03:43,040 Speaker 4: mentality of us against the world, and or maybe it's 67 00:03:43,120 --> 00:03:45,560 Speaker 4: us versus us one of the two, and it felt 68 00:03:45,640 --> 00:03:48,000 Speaker 4: like they were at some point just playing against themselves 69 00:03:48,040 --> 00:03:51,520 Speaker 4: and trying to see the reach the highest heights that 70 00:03:51,560 --> 00:03:52,080 Speaker 4: they could reach. 71 00:03:52,240 --> 00:03:54,280 Speaker 2: Yeah, and I mean, look, we're just two years removed 72 00:03:54,280 --> 00:03:56,960 Speaker 2: of that, you know, forgettable twenty twenty one season when 73 00:03:56,960 --> 00:03:59,000 Speaker 2: they lost over one hundred games, right, So, I mean 74 00:03:59,040 --> 00:04:01,000 Speaker 2: it's it's pretty unbelieve what they've done and how they've 75 00:04:01,040 --> 00:04:02,040 Speaker 2: turned around so quickly. 76 00:04:02,120 --> 00:04:04,280 Speaker 4: And the most beautiful thing about it is when ever 77 00:04:04,320 --> 00:04:06,400 Speaker 4: a city wins it's first championship, you really get to 78 00:04:06,400 --> 00:04:09,560 Speaker 4: see the organization celebrate. So I'm really looking forward to 79 00:04:09,560 --> 00:04:11,880 Speaker 4: seeing the parade and all the players talk about it 80 00:04:11,920 --> 00:04:14,680 Speaker 4: on the podium and that'll be fun. 81 00:04:15,120 --> 00:04:18,760 Speaker 1: By the way, speaking of losing the home field advantage, 82 00:04:18,800 --> 00:04:21,960 Speaker 1: we got a Sunday game that is in Germany. It 83 00:04:22,000 --> 00:04:25,200 Speaker 1: will be the Kansas City Chiefs facing the Miami Dolphins 84 00:04:25,600 --> 00:04:30,400 Speaker 1: at Deutschip Bank Park. And well, let's put it this way. 85 00:04:30,560 --> 00:04:33,039 Speaker 1: I'm going to start. Let's get this just out the 86 00:04:33,080 --> 00:04:38,360 Speaker 1: way I understand that Travis Kelsey's boo is going to 87 00:04:38,400 --> 00:04:41,719 Speaker 1: be there also at the game. Is she Yeah, that's 88 00:04:41,760 --> 00:04:44,080 Speaker 1: what I'm hearing. I'm hearing that she might be there. 89 00:04:44,640 --> 00:04:46,039 Speaker 4: Well, now everybody else to watch. 90 00:04:46,160 --> 00:04:50,560 Speaker 1: Yeah, all the swifties. But the big thing about your 91 00:04:50,600 --> 00:04:55,080 Speaker 1: story that we were talking about this there is a 92 00:04:55,120 --> 00:05:00,440 Speaker 1: theater chain, Cinemax, in partnership with the DOES Zone. They 93 00:05:00,480 --> 00:05:04,080 Speaker 1: will screen the games at eighteen of US locations around Germany. Yeah. 94 00:05:04,320 --> 00:05:07,400 Speaker 4: I would describe the NFL's international business as steady. It's 95 00:05:07,440 --> 00:05:09,400 Speaker 4: growing over the course of a decade, and Germany is 96 00:05:09,400 --> 00:05:11,719 Speaker 4: obviously a new market that they're trying to explore and 97 00:05:11,800 --> 00:05:14,400 Speaker 4: grow in, and so this deal is just part of 98 00:05:14,400 --> 00:05:17,039 Speaker 4: that and trying to broadcast a game as many places 99 00:05:17,080 --> 00:05:18,839 Speaker 4: as they can and gain new fans. 100 00:05:19,120 --> 00:05:20,920 Speaker 2: Well, I'm just looking at, you know, some of the 101 00:05:21,000 --> 00:05:23,320 Speaker 2: numbers here. I mean, the league estimates that it has 102 00:05:23,480 --> 00:05:26,120 Speaker 2: eighteen million fans in Germany, three point six million of 103 00:05:26,120 --> 00:05:29,120 Speaker 2: which are avid fans. And that's according to the NFL. 104 00:05:29,440 --> 00:05:32,320 Speaker 2: I mean, talk to us about, you know, Germany as 105 00:05:32,320 --> 00:05:35,320 Speaker 2: opposed to the United Kingdom. I mean our football fans, 106 00:05:35,560 --> 00:05:38,360 Speaker 2: NFL football fans, sorry not to be confused with soccer, 107 00:05:38,640 --> 00:05:42,760 Speaker 2: are they more or less into the sport in Germany 108 00:05:42,800 --> 00:05:45,400 Speaker 2: than they are relative to I guess England they have. 109 00:05:45,920 --> 00:05:49,200 Speaker 4: Both countries have avid fans. I think London has more 110 00:05:49,240 --> 00:05:52,919 Speaker 4: of the NFL's been in business there longer Germany. In 111 00:05:53,120 --> 00:05:57,120 Speaker 4: these European countries, I'd say that the people who go 112 00:05:57,160 --> 00:05:58,560 Speaker 4: to these games kind of view it as like a 113 00:05:58,600 --> 00:06:01,039 Speaker 4: state fair when it comes around. I don't know right 114 00:06:01,080 --> 00:06:03,520 Speaker 4: now if it's sustainable for the NFL to have a 115 00:06:03,520 --> 00:06:06,279 Speaker 4: division or a team. Here's talks of like the Jaguars 116 00:06:06,279 --> 00:06:08,800 Speaker 4: eventually moving. There's a lot of logistical issues as well 117 00:06:08,839 --> 00:06:11,920 Speaker 4: as would people show up every single year the same 118 00:06:11,920 --> 00:06:15,800 Speaker 4: way that they show up to traditional football or soccer 119 00:06:16,120 --> 00:06:18,640 Speaker 4: games the way they do I'm not sure, but doing 120 00:06:18,680 --> 00:06:20,760 Speaker 4: these one off games have proven to be successful, so 121 00:06:20,760 --> 00:06:22,159 Speaker 4: I think the league is going to continue to do 122 00:06:22,200 --> 00:06:22,920 Speaker 4: them in the future. 123 00:06:23,320 --> 00:06:27,080 Speaker 1: Well, we got to talk about this Jim Harbor and 124 00:06:27,839 --> 00:06:33,440 Speaker 1: Oh Boy, University of Michigan. They are ranked up there, 125 00:06:33,160 --> 00:06:36,320 Speaker 1: They're going for the National Championship, and then all of 126 00:06:36,360 --> 00:06:40,960 Speaker 1: a sudden we have this train wreck about Michigan and 127 00:06:41,000 --> 00:06:46,640 Speaker 1: the sign stealing saga. What problem does this prevent for 128 00:06:46,760 --> 00:06:47,400 Speaker 1: Jim Harbor? 129 00:06:48,640 --> 00:06:51,680 Speaker 4: What problem does this prevent I'm it brings in a 130 00:06:51,720 --> 00:06:53,400 Speaker 4: lot of problems. I mean, one of the things, one 131 00:06:53,400 --> 00:06:55,560 Speaker 4: of the things that it's going to be interesting. There 132 00:06:55,640 --> 00:06:57,480 Speaker 4: was a zoom call with a whole bunch of Big 133 00:06:57,480 --> 00:06:59,640 Speaker 4: ten coaches and they essentially said, like, we want a 134 00:06:59,640 --> 00:07:02,919 Speaker 4: Big ten to do something. And it creates issues for 135 00:07:02,960 --> 00:07:05,640 Speaker 4: the Big Ten because this is the most successful Michigan 136 00:07:05,760 --> 00:07:07,159 Speaker 4: season in a long time. 137 00:07:07,240 --> 00:07:08,119 Speaker 1: I mean last year. 138 00:07:08,320 --> 00:07:11,280 Speaker 4: Obviously they did well, but in years prior, I mean, 139 00:07:11,320 --> 00:07:13,480 Speaker 4: Michigan has been a disappointment. And so now that they 140 00:07:13,520 --> 00:07:17,480 Speaker 4: have regained his prominence, do you either fire Forest in 141 00:07:17,520 --> 00:07:21,360 Speaker 4: Michigan to fire him if this trail continues, and do 142 00:07:21,440 --> 00:07:26,320 Speaker 4: you suspend them completely from the College Football playoff? Because 143 00:07:26,360 --> 00:07:28,880 Speaker 4: now you have one team, Ohio State, and then what 144 00:07:28,920 --> 00:07:31,800 Speaker 4: happens if Michigan beats Ohio State and now you don't 145 00:07:31,840 --> 00:07:34,560 Speaker 4: have any teams. It's a very complicated issue, but also 146 00:07:34,600 --> 00:07:35,360 Speaker 4: a very serious one. 147 00:07:35,800 --> 00:07:38,880 Speaker 2: Let's make it even more complicated here. I mean Jim Harball, 148 00:07:38,880 --> 00:07:41,320 Speaker 2: there's been talk about, you know, him being extended. There 149 00:07:41,360 --> 00:07:43,840 Speaker 2: was a big contract with no number that we know about, 150 00:07:43,920 --> 00:07:45,920 Speaker 2: right that may have been rescinded by the University of 151 00:07:45,960 --> 00:07:49,560 Speaker 2: fucking University of Michigan here, but more importantly, the NFL 152 00:07:49,720 --> 00:07:53,680 Speaker 2: weighing in on college football here, basically saying that if 153 00:07:53,680 --> 00:07:56,440 Speaker 2: Harball were to leave college football and their ranks and 154 00:07:56,520 --> 00:07:59,360 Speaker 2: take a job in the NFL that he would be 155 00:07:59,440 --> 00:08:04,400 Speaker 2: suspended there as well. See and the interesting thing, I mean, Randle, 156 00:08:04,480 --> 00:08:05,960 Speaker 2: you wrote about this, I want to hear about it. 157 00:08:06,000 --> 00:08:08,400 Speaker 2: I mean, you know, I mean, he hasn't broken any 158 00:08:08,520 --> 00:08:11,720 Speaker 2: NFL ruse. He's contractually obligated to arbitrary claims, but he 159 00:08:11,760 --> 00:08:14,120 Speaker 2: isn't a member of the union that negotiated the CBA 160 00:08:14,240 --> 00:08:16,880 Speaker 2: exempting the NFL from anti trust. I mean, talk to 161 00:08:16,960 --> 00:08:18,880 Speaker 2: us about, you know, the risk of litigation for the 162 00:08:18,960 --> 00:08:22,200 Speaker 2: NFL if they choose to to hold up the the 163 00:08:22,400 --> 00:08:23,960 Speaker 2: NCA suspension on Harball. 164 00:08:24,040 --> 00:08:25,640 Speaker 4: I mean that's you just said it, which is like 165 00:08:25,640 --> 00:08:29,200 Speaker 4: anti trust violations. What happens if they do? And you know, 166 00:08:29,400 --> 00:08:32,360 Speaker 4: the NFL is a very powerful organization. They have the money, 167 00:08:32,480 --> 00:08:35,280 Speaker 4: the time to fight this if they want to. We 168 00:08:35,320 --> 00:08:37,960 Speaker 4: saw this a decade ago and some change when Pete 169 00:08:38,000 --> 00:08:42,120 Speaker 4: Carroll fled USC for Seattle. I think it was we'll see, 170 00:08:42,240 --> 00:08:44,240 Speaker 4: I mean, Jim Harbaugh thought that he was going to 171 00:08:44,240 --> 00:08:46,280 Speaker 4: get a head coaching job last year, it didn't happen. 172 00:08:46,559 --> 00:08:48,880 Speaker 4: There's been talks every single year. When is he coming back? 173 00:08:48,880 --> 00:08:51,680 Speaker 4: When is he coming back? This depending on how the 174 00:08:51,720 --> 00:08:54,080 Speaker 4: investigation goes. I mean, I think there will probably be 175 00:08:54,160 --> 00:08:57,360 Speaker 4: in between four and six head coaching openings next season. 176 00:08:58,000 --> 00:08:59,920 Speaker 4: One of those jobs is going to be available. I mean, 177 00:08:59,920 --> 00:09:01,880 Speaker 4: we already see one with the Raiders. What happens if 178 00:09:01,880 --> 00:09:04,600 Speaker 4: Mark Davis comes calling with his big pocketbook and nanny's 179 00:09:04,640 --> 00:09:08,440 Speaker 4: and he ends up paying three head coaches on he 180 00:09:08,480 --> 00:09:10,439 Speaker 4: has three head coaches on payroll? Who knows? 181 00:09:10,760 --> 00:09:12,480 Speaker 1: Yeah, And that's why I was getting get it at 182 00:09:12,480 --> 00:09:15,120 Speaker 1: the beginning of this at this topic, is that yeah, 183 00:09:15,160 --> 00:09:19,120 Speaker 1: prevents Harball from getting that contract extension because this is 184 00:09:19,160 --> 00:09:22,600 Speaker 1: a mess, right, I am really I want to see 185 00:09:22,600 --> 00:09:26,319 Speaker 1: how this plays out, but it'll be interesting. Finally, we're 186 00:09:26,400 --> 00:09:31,559 Speaker 1: running out of time, but oh my, Kim Kardashian Skims 187 00:09:32,120 --> 00:09:37,360 Speaker 1: becomes the official underwear partner of the NBA Rando and 188 00:09:37,440 --> 00:09:40,360 Speaker 1: there's a lot of money in those indies. 189 00:09:40,000 --> 00:09:43,080 Speaker 4: Lots of money. Skims is valued at four billion dollars, 190 00:09:43,080 --> 00:09:47,520 Speaker 4: which is worth more, according to Sporticoas valuations than almost 191 00:09:47,559 --> 00:09:50,160 Speaker 4: all of the NBA's organizations. These are valuations from last year. 192 00:09:50,200 --> 00:09:52,480 Speaker 4: I'm shuld to have some coming out in the next 193 00:09:52,520 --> 00:09:55,040 Speaker 4: couple of months, but it's a huge deal. I mean, 194 00:09:55,080 --> 00:09:58,480 Speaker 4: it'll be interesting to see how much how many players 195 00:09:58,559 --> 00:10:01,120 Speaker 4: wear the skims, how many wear it. I think this 196 00:10:01,160 --> 00:10:03,720 Speaker 4: is a bigger deal for the WNBA. Skims has gone 197 00:10:03,800 --> 00:10:07,040 Speaker 4: viral since the pandemic and continues to go viral. So 198 00:10:07,360 --> 00:10:10,080 Speaker 4: I think it's a tremendous opportunity for the WNBA players, 199 00:10:10,160 --> 00:10:13,280 Speaker 4: especially as we head into the Olympics and the WNBA 200 00:10:13,360 --> 00:10:16,360 Speaker 4: season kicks off again next year. There's a really, really 201 00:10:16,400 --> 00:10:20,079 Speaker 4: big opportunity for this partnership to be elevated in both leagues, 202 00:10:20,120 --> 00:10:22,280 Speaker 4: but specifically, i'd say in the WNBA. 203 00:10:22,480 --> 00:10:24,760 Speaker 2: Randall, I mean, we have a lot of female listeners 204 00:10:24,760 --> 00:10:26,679 Speaker 2: here at Bloomberg Business of Sports, and they're listening in 205 00:10:26,760 --> 00:10:28,200 Speaker 2: right now, and they really want to know, are we 206 00:10:28,240 --> 00:10:31,640 Speaker 2: going to get more pictures of Nick Bosa wearing skims 207 00:10:31,720 --> 00:10:34,200 Speaker 2: and more? And look, I mean even if we don't, 208 00:10:34,240 --> 00:10:37,240 Speaker 2: you know, I mean, how about Jimmy Garoppolo. He's uncomfortably handsome. 209 00:10:37,280 --> 00:10:38,880 Speaker 2: I mean, can we expect him to get involved? 210 00:10:39,080 --> 00:10:41,400 Speaker 4: Jimmy Garoppolo. I'm he's not starting right now. I don't 211 00:10:41,400 --> 00:10:45,200 Speaker 4: know how the calling him. I think there will definitely 212 00:10:45,200 --> 00:10:48,520 Speaker 4: be more NFL players, but NBA. This is an NBA deal, 213 00:10:48,600 --> 00:10:50,920 Speaker 4: so undoubtedly there's going to be some young players, and 214 00:10:51,200 --> 00:10:53,600 Speaker 4: I'm sure kim K and Skims will open its pocketbook 215 00:10:53,640 --> 00:10:57,000 Speaker 4: and pay some people six seven figures. But on the 216 00:10:57,040 --> 00:11:00,760 Speaker 4: WNBA side, Asia Wilson has already done in a Skim endorsement. 217 00:11:00,840 --> 00:11:02,920 Speaker 4: I think it was for the twenty twenty slash twenty 218 00:11:02,920 --> 00:11:07,679 Speaker 4: twenty one Olympics. So whoever they choose, it's a tremendous opportunity. 219 00:11:07,800 --> 00:11:09,600 Speaker 4: I'm really excited to see where it goes. 220 00:11:09,760 --> 00:11:12,200 Speaker 1: Yeah, I tell you one person they won't see and Skims, 221 00:11:12,280 --> 00:11:16,880 Speaker 1: Michael Barr, the Ralph Crampton of the Bloomberg businesses. 222 00:11:16,600 --> 00:11:18,640 Speaker 4: Kim K comes and tries to pay you five hundred 223 00:11:18,679 --> 00:11:20,120 Speaker 4: thousand dollars for a couple commercials. 224 00:11:20,160 --> 00:11:26,040 Speaker 1: You're not doing it. Yeah, I'll be right there on TV. 225 00:11:26,520 --> 00:11:31,559 Speaker 1: Like that's right, Michael Barr for Skims. Maybe right? You 226 00:11:31,800 --> 00:11:36,920 Speaker 1: mean both? Randall williams our own Bloomberg US Sports Business reported, 227 00:11:37,000 --> 00:11:37,880 Speaker 1: Thank you, sir, good. 228 00:11:37,760 --> 00:11:39,559 Speaker 4: Join, thank you for having me as always up. 229 00:11:39,559 --> 00:11:41,920 Speaker 1: Next on the show, Scarlett joins us to talk about 230 00:11:41,920 --> 00:11:44,920 Speaker 1: a former NBA all start looking to make a splash, 231 00:11:45,240 --> 00:11:48,280 Speaker 1: invent your capital. That is straight ahead on Bloomberg Business 232 00:11:48,280 --> 00:11:59,160 Speaker 1: of Sports Bloomberg Radio around the world. This is the 233 00:11:59,160 --> 00:12:01,600 Speaker 1: Bloomberg Business of Sports show, but we explored the big 234 00:12:01,679 --> 00:12:03,760 Speaker 1: money issues in the world of sports on Michael Barr 235 00:12:03,800 --> 00:12:08,240 Speaker 1: along with Scarlett fu and Damian Sassauer. After an NBA 236 00:12:08,440 --> 00:12:15,000 Speaker 1: career filled with accolades and a couple of NBA championships. 237 00:12:14,200 --> 00:12:19,599 Speaker 4: Pickgadalar Pigadala puts up pants, Come Andre Gandalar drills it 238 00:12:19,720 --> 00:12:21,640 Speaker 4: with five point nine romaining. 239 00:12:22,160 --> 00:12:26,320 Speaker 1: Andre Iguanala heading into retirement and he's got a plan. 240 00:12:26,880 --> 00:12:30,000 Speaker 1: After earning nearly one hundred and ninety million dollars in 241 00:12:30,080 --> 00:12:34,120 Speaker 1: the league, he's looking to dive into venture capital. Bloomberg 242 00:12:34,240 --> 00:12:37,800 Speaker 1: News Global Business reporter Ira Budue spoke with a four 243 00:12:37,920 --> 00:12:41,840 Speaker 1: time NBA champ about his new VC fund, his post 244 00:12:41,960 --> 00:12:45,400 Speaker 1: retirement plans and more, and he's here now to take 245 00:12:45,480 --> 00:12:48,720 Speaker 1: us through it. Iira, Welcome to the Bloomberg Business of Sports. Iira, 246 00:12:48,800 --> 00:12:50,360 Speaker 1: thank you so much for joining us on the Bloomberg 247 00:12:50,400 --> 00:12:51,240 Speaker 1: Business of Sports. 248 00:12:51,440 --> 00:12:52,640 Speaker 5: Thanks for having me as always. 249 00:12:52,800 --> 00:12:56,400 Speaker 1: Well, let's talk about this plan begins with two hundred million. 250 00:12:56,120 --> 00:12:59,880 Speaker 5: Dollars yes, So it's a venture fund. Ugodala is fa 251 00:13:00,000 --> 00:13:02,680 Speaker 5: famously one of the NBA players who sort of helped 252 00:13:02,800 --> 00:13:06,280 Speaker 5: get the league and its players plugged into the venture 253 00:13:06,320 --> 00:13:09,880 Speaker 5: capital scene silicon in Silicon Valley, and now that he's 254 00:13:09,920 --> 00:13:13,280 Speaker 5: done playing, which he announced just a couple weeks ago, 255 00:13:13,480 --> 00:13:16,400 Speaker 5: he is going to help run this two hundred million 256 00:13:16,440 --> 00:13:19,040 Speaker 5: dollar fund, him and three other partners, and they're out 257 00:13:19,080 --> 00:13:24,080 Speaker 5: looking to invest in tech companies and enterprise software and 258 00:13:24,160 --> 00:13:26,280 Speaker 5: sports and all over the place. 259 00:13:26,480 --> 00:13:26,640 Speaker 2: You know. 260 00:13:26,679 --> 00:13:29,520 Speaker 6: I interviewed Andrea Goudalo a while ago, and what I 261 00:13:29,559 --> 00:13:33,160 Speaker 6: found super interesting was he plotted out his career. He 262 00:13:33,360 --> 00:13:36,640 Speaker 6: wanted to play in Silicon Valley because he wanted to 263 00:13:36,720 --> 00:13:41,040 Speaker 6: meet tycoons and investors and people in the tech world 264 00:13:41,320 --> 00:13:44,600 Speaker 6: to set himself up for his future career. And this 265 00:13:44,679 --> 00:13:46,840 Speaker 6: is something he thought about a lot of and he 266 00:13:47,000 --> 00:13:50,320 Speaker 6: positioned himself for it, and he is ending his career 267 00:13:50,360 --> 00:13:53,079 Speaker 6: with the team. Is this now a normal thing? Is 268 00:13:53,120 --> 00:13:54,960 Speaker 6: this a regular thing where you see players kind of 269 00:13:54,960 --> 00:13:58,199 Speaker 6: plot this out in advance and not maneuver, but make 270 00:13:58,240 --> 00:14:00,559 Speaker 6: sure that they stay in that ECO system for the 271 00:14:00,679 --> 00:14:02,160 Speaker 6: entirety of their NBA career as well. 272 00:14:02,240 --> 00:14:03,640 Speaker 5: You know, I think with him it's a it's a 273 00:14:03,640 --> 00:14:06,720 Speaker 5: special case a. He was kind of early to this 274 00:14:06,880 --> 00:14:08,920 Speaker 5: idea and he got lucky. I mean, you have the 275 00:14:08,920 --> 00:14:12,000 Speaker 5: Warriors have to want you, yes, And I remember talking 276 00:14:12,040 --> 00:14:14,120 Speaker 5: with him and his business partner, Rudy Kline Thomas. 277 00:14:14,200 --> 00:14:15,120 Speaker 1: They do everything. 278 00:14:14,840 --> 00:14:20,560 Speaker 5: Together, and when the Warriors agreed to sign Igdala, he said, 279 00:14:20,560 --> 00:14:23,320 Speaker 5: he jumped out of his car and ran around, you know, celebrating, 280 00:14:23,360 --> 00:14:26,640 Speaker 5: And so it was it worked out really well for everybody. 281 00:14:26,640 --> 00:14:28,120 Speaker 5: And then you know, he did have that brief stint 282 00:14:28,120 --> 00:14:31,480 Speaker 5: in Miami, came back to the Warriors, and I think, 283 00:14:31,520 --> 00:14:33,440 Speaker 5: and I'm talking to him, he said, you know, part 284 00:14:33,440 --> 00:14:35,800 Speaker 5: of the reason he retired now is that he didn't 285 00:14:35,800 --> 00:14:37,520 Speaker 5: want to go play for another team. He wanted to 286 00:14:37,640 --> 00:14:39,880 Speaker 5: end it in the Bay Area. But that was definitely 287 00:14:39,920 --> 00:14:43,080 Speaker 5: a piece of the attraction was that that team, not 288 00:14:43,160 --> 00:14:46,640 Speaker 5: just geographically, but its ownership group was just full of 289 00:14:46,680 --> 00:14:49,560 Speaker 5: people who were in tech and network. Yeah, so they 290 00:14:49,840 --> 00:14:52,480 Speaker 5: were plugged into it in a way that you could 291 00:14:52,560 --> 00:14:55,280 Speaker 5: be from other cities, but it probably wouldn't be as 292 00:14:56,000 --> 00:14:59,040 Speaker 5: deeply integrated, as simple as being in that locker room. 293 00:14:59,040 --> 00:15:01,880 Speaker 2: So you mentioned, you know, the Bay Area, and obviously 294 00:15:02,000 --> 00:15:04,160 Speaker 2: you know what that means and being so close to 295 00:15:04,200 --> 00:15:06,240 Speaker 2: the action there, and I think of you know, Kevin Durant, 296 00:15:06,240 --> 00:15:08,120 Speaker 2: and I think of thirty four V. But you know, 297 00:15:08,240 --> 00:15:10,880 Speaker 2: most you know, professional NBA players that I've seen, you know, 298 00:15:10,920 --> 00:15:14,680 Speaker 2: who go off into retirement and start investing, you know, 299 00:15:14,800 --> 00:15:17,800 Speaker 2: in different businesses, they tend to be more consumer focused, right. 300 00:15:17,800 --> 00:15:20,200 Speaker 2: They try to leverage their brand and their awareness of 301 00:15:20,240 --> 00:15:24,360 Speaker 2: sports and consumer you know, it's so unique, you know, 302 00:15:24,480 --> 00:15:26,600 Speaker 2: his approach and that of Kevin Durant. I mean, how 303 00:15:26,600 --> 00:15:28,880 Speaker 2: many other NBA players are out there that are, you know, 304 00:15:28,960 --> 00:15:31,880 Speaker 2: specifically focused on technology and tech startups. 305 00:15:32,160 --> 00:15:35,040 Speaker 5: Yeah, I think it's pretty rare. There's definitely the broader 306 00:15:35,080 --> 00:15:37,640 Speaker 5: trend of let me get some equity in a consumer 307 00:15:37,680 --> 00:15:41,720 Speaker 5: brand that is a startup by leveraging my celebrity, right right, 308 00:15:41,760 --> 00:15:43,640 Speaker 5: Instead of you give me a check, you give me. 309 00:15:43,600 --> 00:15:45,440 Speaker 1: A piece of the company. 310 00:15:45,640 --> 00:15:48,120 Speaker 5: And that, whether that's a sports drink or whatever else, 311 00:15:48,160 --> 00:15:51,960 Speaker 5: has become increasingly common. I think the idea of let 312 00:15:52,000 --> 00:15:54,320 Speaker 5: me cut you a check so that I can have 313 00:15:54,360 --> 00:15:55,920 Speaker 5: a piece of equity in a company that may or 314 00:15:56,000 --> 00:15:57,760 Speaker 5: not have anything to do with sports, Like these guys 315 00:15:57,800 --> 00:16:01,880 Speaker 5: are investing in this company, Vessel Technologies, which is prefabricated 316 00:16:01,920 --> 00:16:04,480 Speaker 5: apartments for sort of missing middle housing right. 317 00:16:04,600 --> 00:16:07,160 Speaker 2: Right now, having Andre's name on that's not going to 318 00:16:07,200 --> 00:16:08,520 Speaker 2: really You're. 319 00:16:08,480 --> 00:16:12,560 Speaker 5: Using him on the website to sell apartments, and they 320 00:16:12,600 --> 00:16:14,720 Speaker 5: just think it's a good value proposition. So they are 321 00:16:14,720 --> 00:16:18,400 Speaker 5: out there trying to find the best new startups in 322 00:16:18,480 --> 00:16:21,400 Speaker 5: the same way that every other venture investor is and 323 00:16:21,600 --> 00:16:23,680 Speaker 5: just kind of putting there seeing if they can be, 324 00:16:24,080 --> 00:16:25,320 Speaker 5: you know, smarter than the market. 325 00:16:25,560 --> 00:16:28,200 Speaker 1: You asked a very good question in your newsletter to 326 00:16:29,080 --> 00:16:33,760 Speaker 1: Andre and one day does he ever want to own 327 00:16:33,800 --> 00:16:34,640 Speaker 1: an NBA team? 328 00:16:35,160 --> 00:16:37,200 Speaker 5: He said that is part of the ambition. So so 329 00:16:37,400 --> 00:16:40,040 Speaker 5: aside from the venture fund, he and Rudy Clin Thomas, 330 00:16:40,080 --> 00:16:43,880 Speaker 5: who they invest in everything jointly, they have been building 331 00:16:43,880 --> 00:16:47,640 Speaker 5: a small sports portfolio. So they have this TGL, that 332 00:16:47,680 --> 00:16:50,240 Speaker 5: new startup golf league with Tiger Woods and Roy McElroy. 333 00:16:50,240 --> 00:16:53,160 Speaker 5: They bought the San Francisco franchise, they bought into that, 334 00:16:53,600 --> 00:16:57,040 Speaker 5: They bought into the expansion National Women's Soccer League BAFC 335 00:16:57,440 --> 00:17:00,680 Speaker 5: team also in the Bay Area, and they have a 336 00:17:01,120 --> 00:17:03,760 Speaker 5: stake with the forty nine ers group in Leeds United, 337 00:17:04,880 --> 00:17:06,879 Speaker 5: And he said that all of that in a way 338 00:17:07,160 --> 00:17:10,560 Speaker 5: is preparation for this ambition of hopefully being able to 339 00:17:10,600 --> 00:17:12,840 Speaker 5: be not just an owner in an NBA team, but 340 00:17:12,880 --> 00:17:15,879 Speaker 5: a control owner, you know, the one who's making the calls, 341 00:17:15,920 --> 00:17:19,240 Speaker 5: the majority owner of an NBA team. That's his ultimate 342 00:17:19,560 --> 00:17:20,440 Speaker 5: goal with all of this. 343 00:17:20,720 --> 00:17:24,520 Speaker 1: You mentioned about the marriage between Tiger Woods and brewery 344 00:17:24,560 --> 00:17:28,680 Speaker 1: Mackelroy that kicks off in January, and just for people 345 00:17:28,720 --> 00:17:31,879 Speaker 1: who don't know about it, Scarlett and Damien, that's a 346 00:17:32,000 --> 00:17:35,640 Speaker 1: very unique idea. It's going to air prime time on 347 00:17:36,080 --> 00:17:41,760 Speaker 1: ESPN outlets, and it's going to start running from January ninth, 348 00:17:41,800 --> 00:17:45,720 Speaker 1: I believe, through the Masters, and it will take place 349 00:17:45,760 --> 00:17:48,520 Speaker 1: every week. Irate your thoughts. This is going to be 350 00:17:48,680 --> 00:17:51,479 Speaker 1: a team event, and right now I think we have 351 00:17:51,640 --> 00:17:54,680 Speaker 1: five out of the six teams that will be highlighted. 352 00:17:55,080 --> 00:17:57,280 Speaker 5: Yeah, it's a really interesting league. I mean, they're doing 353 00:17:57,359 --> 00:18:00,600 Speaker 5: it all in Florida, So even though the teams are 354 00:18:00,680 --> 00:18:04,760 Speaker 5: from Atlanta or San Francisco, at least nominally, it's really 355 00:18:04,800 --> 00:18:06,800 Speaker 5: all these players, most of them live in Florida. 356 00:18:06,840 --> 00:18:07,240 Speaker 1: Anyway. 357 00:18:07,760 --> 00:18:10,000 Speaker 5: This is a day a lull in their week, you know, 358 00:18:10,040 --> 00:18:12,840 Speaker 5: in terms of their professional schedule. They can go to 359 00:18:12,880 --> 00:18:15,119 Speaker 5: this high tech venue that they're building where they're going 360 00:18:15,200 --> 00:18:17,200 Speaker 5: to hit the you know, their t shots in a 361 00:18:17,280 --> 00:18:20,919 Speaker 5: simulator and then move out into these sort of modular 362 00:18:21,080 --> 00:18:24,680 Speaker 5: indoor greens to do the rest and have a live audience. 363 00:18:25,680 --> 00:18:27,920 Speaker 5: You know, it's going to be really interesting what kind 364 00:18:27,920 --> 00:18:30,480 Speaker 5: of audience they can pull with that on ESPN. It 365 00:18:30,520 --> 00:18:32,280 Speaker 5: could be a huge hit, or it could be one 366 00:18:32,280 --> 00:18:34,280 Speaker 5: of these things that people kind of shrug. You know, 367 00:18:34,440 --> 00:18:35,639 Speaker 5: I'm very curious myself. 368 00:18:35,760 --> 00:18:38,679 Speaker 6: Is this designed to be a competitor to the PGA 369 00:18:38,760 --> 00:18:40,880 Speaker 6: and to Live Golf? I mean, no matter what happens 370 00:18:40,880 --> 00:18:41,600 Speaker 6: to that whole thing. 371 00:18:42,200 --> 00:18:44,280 Speaker 5: You know, there's a lot of speculation around it because 372 00:18:44,320 --> 00:18:47,280 Speaker 5: it started got going. PGA Tour is a partner in it. 373 00:18:47,400 --> 00:18:51,480 Speaker 5: They're they're invested in it, and and Rory and Tiger. 374 00:18:51,560 --> 00:18:53,240 Speaker 5: I think part of the reason they were able to 375 00:18:53,240 --> 00:18:56,040 Speaker 5: get this going is that they had kind of they 376 00:18:56,040 --> 00:18:58,520 Speaker 5: were a little bit disgruntled over the live tour thing 377 00:18:58,560 --> 00:19:00,480 Speaker 5: at that point, and the PGA, I think I wanted 378 00:19:00,480 --> 00:19:02,679 Speaker 5: to show some goodwill so they joined them in this. 379 00:19:02,760 --> 00:19:05,240 Speaker 5: So it's it's a different part of the week, it's 380 00:19:05,240 --> 00:19:07,960 Speaker 5: a different part of the calendar. It's it's meant to 381 00:19:08,040 --> 00:19:10,119 Speaker 5: be sort of additive to all of that, and it's 382 00:19:10,160 --> 00:19:12,320 Speaker 5: a different approach. It kind of fits with this entire 383 00:19:12,960 --> 00:19:17,480 Speaker 5: in recreational golf move towards sort of mixing the nightclub 384 00:19:17,520 --> 00:19:20,320 Speaker 5: experience with the golfing experience of like Top Golf and 385 00:19:20,359 --> 00:19:20,800 Speaker 5: these the. 386 00:19:21,760 --> 00:19:25,360 Speaker 6: Club experience in the golfing experience. Damian is as It's like, yes, 387 00:19:25,440 --> 00:19:26,200 Speaker 6: I've been there. 388 00:19:26,280 --> 00:19:28,080 Speaker 2: That's my thing. Well, you know, I I'm not nearly 389 00:19:28,119 --> 00:19:30,040 Speaker 2: as important as my colleague Scarlett is. You know, I 390 00:19:30,040 --> 00:19:32,119 Speaker 2: don't get the look when Andre comes into town for 391 00:19:32,240 --> 00:19:34,640 Speaker 2: interviews or anything. But you know I have read about him, 392 00:19:34,680 --> 00:19:36,440 Speaker 2: and you know I have read about his partner, Rudy 393 00:19:36,440 --> 00:19:38,879 Speaker 2: clin Thomas also, you know, I don't know the relationship. 394 00:19:38,920 --> 00:19:40,560 Speaker 2: I don't know all too well. But when you invest 395 00:19:40,640 --> 00:19:43,800 Speaker 2: in venture, make venture investments, or even growth equity for 396 00:19:43,840 --> 00:19:46,560 Speaker 2: that matter, anything private equity or it's not just making 397 00:19:46,640 --> 00:19:49,399 Speaker 2: the investment. It's seeing the investment through. It's being involved 398 00:19:49,440 --> 00:19:52,520 Speaker 2: with management, it's guiding management, it's everything that goes hand 399 00:19:52,560 --> 00:19:56,360 Speaker 2: in hand when you're a private equity investor. How involved 400 00:19:56,880 --> 00:19:59,000 Speaker 2: do you feel Andre will be in that part of 401 00:19:59,000 --> 00:20:01,879 Speaker 2: the process, And is he in your opinion, you know, 402 00:20:02,160 --> 00:20:04,360 Speaker 2: is that something he likes to do that he's qualified 403 00:20:04,400 --> 00:20:06,920 Speaker 2: to do to take in investor money to act as 404 00:20:06,920 --> 00:20:09,879 Speaker 2: a fiduciary and take on that responsibility because it is 405 00:20:09,880 --> 00:20:10,680 Speaker 2: a responsibility. 406 00:20:10,960 --> 00:20:12,879 Speaker 5: Yeah, I mean, it's just four of them in this fund, 407 00:20:12,960 --> 00:20:15,600 Speaker 5: which I think is important to note. But but I think, 408 00:20:15,640 --> 00:20:17,240 Speaker 5: you know, he's basically the way he put it to 409 00:20:17,240 --> 00:20:20,119 Speaker 5: me is he's retired to run this fund. So this 410 00:20:20,200 --> 00:20:22,000 Speaker 5: is what he wants to do. This basically in golfing, 411 00:20:22,080 --> 00:20:24,200 Speaker 5: I think are the two things he wants to get 412 00:20:24,280 --> 00:20:27,000 Speaker 5: up to. So I think he does want to take 413 00:20:27,119 --> 00:20:29,439 Speaker 5: an active role in it by all accounts, and speaking 414 00:20:29,440 --> 00:20:32,280 Speaker 5: to other people, you know, I wrote about him six 415 00:20:32,359 --> 00:20:34,080 Speaker 5: years ago, which is partly why I wanted to come 416 00:20:34,080 --> 00:20:36,359 Speaker 5: back now that he was retired to talk again. But 417 00:20:36,720 --> 00:20:39,520 Speaker 5: in speaking with people then and now, you know, they 418 00:20:39,560 --> 00:20:42,320 Speaker 5: say that he does his homework, he's there on time, 419 00:20:42,400 --> 00:20:45,720 Speaker 5: he's serious, you know, Uh, the part of running. 420 00:20:45,880 --> 00:20:48,520 Speaker 6: Yeah, he's not just showing up for the initial and he's. 421 00:20:48,359 --> 00:20:50,879 Speaker 5: Learned a lot, right that he has from you know, 422 00:20:50,920 --> 00:20:53,400 Speaker 5: when they were cutting checks ten twenty thousand dollars at 423 00:20:53,400 --> 00:20:56,000 Speaker 5: a time to kind of be in the room and 424 00:20:56,080 --> 00:20:58,840 Speaker 5: meet the people, he was picking things up and learning 425 00:20:58,840 --> 00:21:00,520 Speaker 5: more and more. So we shall see. I mean, you 426 00:21:00,520 --> 00:21:02,719 Speaker 5: know they take it pretty serious. Rudy clamb Thomas is 427 00:21:03,280 --> 00:21:05,760 Speaker 5: over most of his time now in Leeds as co 428 00:21:05,920 --> 00:21:06,480 Speaker 5: chair of. 429 00:21:06,560 --> 00:21:09,600 Speaker 2: Right and they have other responsibilities. And part of the 430 00:21:09,600 --> 00:21:13,560 Speaker 2: responsibility isn't just managing the investments, it's sourcing them as well, right, Right, 431 00:21:13,720 --> 00:21:15,160 Speaker 2: I mean there's a lot that goes hand in hand. 432 00:21:15,160 --> 00:21:17,320 Speaker 2: I'm just saying when you're running a venture fund, right, 433 00:21:17,400 --> 00:21:20,119 Speaker 2: So all you know, I'm not at all saying that 434 00:21:20,160 --> 00:21:24,159 Speaker 2: he's not qualified or prepared. But then again, I don't know, Andre, 435 00:21:24,280 --> 00:21:27,560 Speaker 2: I just know, Wow, it is a big responsibility and 436 00:21:27,600 --> 00:21:30,440 Speaker 2: now you know you've got a producier responsibility on top of. 437 00:21:30,320 --> 00:21:33,160 Speaker 5: It, right, and I think not playing an NBA schedule 438 00:21:34,480 --> 00:21:35,240 Speaker 5: you will help with that. 439 00:21:35,480 --> 00:21:40,640 Speaker 1: Yeah, Broadway our Bloomberg's very own. Thank you so much, 440 00:21:40,720 --> 00:21:44,160 Speaker 1: and thank you for the newsletter. It's excellent, right, Yes, 441 00:21:44,240 --> 00:21:47,200 Speaker 1: please read it, go on the terminal if you can 442 00:21:47,280 --> 00:21:49,439 Speaker 1: and check it out because it's first rate. I right, 443 00:21:49,440 --> 00:21:50,080 Speaker 1: thank you so much. 444 00:21:50,119 --> 00:21:50,479 Speaker 5: Thank you. 445 00:21:50,920 --> 00:21:54,440 Speaker 1: Up next, we turn to the NFL with super Agenda. 446 00:21:54,560 --> 00:21:58,600 Speaker 1: Lea Steinberg. You're listening to the Bloomberg Business of Sports 447 00:21:58,800 --> 00:22:11,360 Speaker 1: from Bloomberger Around the world. You're listening to Bloomberg Business 448 00:22:11,400 --> 00:22:15,520 Speaker 1: of Sports from Bloomberg Radio. Thanks for joining us on 449 00:22:15,560 --> 00:22:17,960 Speaker 1: the Bloomberg Business of Sports show, where we explored the 450 00:22:17,960 --> 00:22:20,560 Speaker 1: big money issues in the world of sports. Michael Barrn 451 00:22:20,560 --> 00:22:23,359 Speaker 1: along with Scarlett Foo and to Damien Sas Hour. The 452 00:22:23,480 --> 00:22:26,120 Speaker 1: NFL trade deadline has come and gone and we want 453 00:22:26,200 --> 00:22:29,760 Speaker 1: to break it down. So with us to do that, 454 00:22:29,840 --> 00:22:35,480 Speaker 1: we have the pleasure of talking with NFL superagent Lee Steinberg. Lee, 455 00:22:35,600 --> 00:22:37,800 Speaker 1: thank you so much for joining us, old friend on 456 00:22:37,840 --> 00:22:39,680 Speaker 1: the Bloomberg Business of Sports. 457 00:22:39,720 --> 00:22:40,360 Speaker 3: My pleasure. 458 00:22:40,600 --> 00:22:43,480 Speaker 1: Well, I'm going to start with the obvious in the room. 459 00:22:43,560 --> 00:22:48,960 Speaker 1: The NFL trade deadline passed this past week, and I 460 00:22:49,080 --> 00:22:52,040 Speaker 1: thought we were going to have debris all over the place. 461 00:22:52,119 --> 00:22:55,160 Speaker 1: I thought this player was going to that team. People 462 00:22:55,200 --> 00:22:57,720 Speaker 1: couldn't keep up. I thought all that was going to happen, 463 00:22:58,520 --> 00:22:59,639 Speaker 1: and it really did. 464 00:23:00,160 --> 00:23:05,359 Speaker 3: It actually was pretty lively for NFL trade deadline. Remember 465 00:23:05,400 --> 00:23:10,400 Speaker 3: this is not baseball or basketball, where those trades happen 466 00:23:10,520 --> 00:23:12,719 Speaker 3: all the time. When a lot of the things you have 467 00:23:12,840 --> 00:23:17,479 Speaker 3: tap limitations and set rosters at a certain point, so 468 00:23:17,720 --> 00:23:21,080 Speaker 3: that has to be factored in. But I thought there 469 00:23:21,119 --> 00:23:27,240 Speaker 3: were some significant moves. Minnesota picking up the quarterback Dobbs 470 00:23:29,240 --> 00:23:32,280 Speaker 3: was a big pickup. Or Chase Young, who was the 471 00:23:32,320 --> 00:23:37,160 Speaker 3: second player picked overall in the NFL Draft this year 472 00:23:37,680 --> 00:23:42,960 Speaker 3: and very prolific at his position, getstredded from Washington to 473 00:23:43,080 --> 00:23:47,720 Speaker 3: the forty nine ers. I mean, there were some strategic moves, 474 00:23:47,840 --> 00:23:52,320 Speaker 3: but you will never have the amount of trading in 475 00:23:53,080 --> 00:23:57,600 Speaker 3: football that you have in baseball and basketball. It should 476 00:23:57,600 --> 00:23:58,600 Speaker 3: have never been that way. 477 00:23:58,800 --> 00:24:02,480 Speaker 2: Welle, you mentioned Chase, you mentioned Montes Sweat, the Redskins 478 00:24:02,480 --> 00:24:06,160 Speaker 2: defensive ends being shipped off. I mean Leonard Williams to Seattle, 479 00:24:06,240 --> 00:24:09,000 Speaker 2: another defensive end. You know what is going on with 480 00:24:09,040 --> 00:24:11,720 Speaker 2: these defensive ends, And I think, if I'm not mistaken, 481 00:24:11,800 --> 00:24:14,440 Speaker 2: all of them going for second rounders of some derivation 482 00:24:14,520 --> 00:24:17,480 Speaker 2: thereof They're not really going for first round talent. I'm 483 00:24:17,480 --> 00:24:19,760 Speaker 2: just curious to hear your thoughts. Is that enough for 484 00:24:19,840 --> 00:24:23,440 Speaker 2: people like Chase Youngla, like Montes Sweat, like Leonard Williams 485 00:24:23,480 --> 00:24:25,719 Speaker 2: to go for you know, basically a second rounder at 486 00:24:25,720 --> 00:24:26,840 Speaker 2: the at the midway point. 487 00:24:27,040 --> 00:24:30,640 Speaker 3: No, And for example, in Chicago's case, that second rounder 488 00:24:32,200 --> 00:24:34,480 Speaker 3: will be right at the top, would be virtually a 489 00:24:34,560 --> 00:24:41,200 Speaker 3: first rounder. And so that's the distinction. The way football 490 00:24:41,320 --> 00:24:44,000 Speaker 3: is played has changed, so because of the advent of 491 00:24:44,040 --> 00:24:48,080 Speaker 3: the modern passion game. The four positions that have been 492 00:24:48,160 --> 00:24:54,639 Speaker 3: elevated are always quarterback, but left tackle that protects the 493 00:24:54,720 --> 00:24:58,320 Speaker 3: blind side, but then an edge rusher. It's the only 494 00:24:58,359 --> 00:25:02,160 Speaker 3: way to slow down that the games, so that becomes 495 00:25:02,840 --> 00:25:06,679 Speaker 3: a critical position and one that a team looking to 496 00:25:06,880 --> 00:25:10,719 Speaker 3: enhance can see immediate return from because that player can 497 00:25:11,160 --> 00:25:14,240 Speaker 3: simply fit in immediately and go after the quarterback. 498 00:25:14,320 --> 00:25:16,080 Speaker 2: Well, Lee, it seems to me that the NFL is 499 00:25:16,080 --> 00:25:18,600 Speaker 2: wising up to the fact that, you know, you haven't 500 00:25:18,680 --> 00:25:21,639 Speaker 2: left tackle or any offensive skill player at the midway 501 00:25:21,680 --> 00:25:24,160 Speaker 2: point of the season come in and make an impact 502 00:25:24,240 --> 00:25:26,600 Speaker 2: without knowing the offense. It just takes a bit more time. 503 00:25:26,640 --> 00:25:28,600 Speaker 2: But you know, to put an athlete, you know, like 504 00:25:28,640 --> 00:25:30,639 Speaker 2: a Chase Young on the end right and just tell 505 00:25:30,720 --> 00:25:32,600 Speaker 2: him to go get the pass there, you know, maybe 506 00:25:32,600 --> 00:25:34,399 Speaker 2: that's what it is, right, You get more of a 507 00:25:34,560 --> 00:25:37,000 Speaker 2: you know, the timeline, so to speak, for them to 508 00:25:37,000 --> 00:25:38,879 Speaker 2: pick up the playbook is that much quicker on the 509 00:25:38,880 --> 00:25:40,480 Speaker 2: defensive side of the ball, would you agree with that? 510 00:25:40,760 --> 00:25:46,560 Speaker 3: Absolutely? So that defensive lineman doesn't really need to see 511 00:25:46,600 --> 00:25:50,160 Speaker 3: the playbook. He's got one goal back the path right 512 00:25:50,560 --> 00:25:54,760 Speaker 3: and he can do that immediately, And so you're right, 513 00:25:55,359 --> 00:26:00,800 Speaker 3: where offense sometimes can take more coordination and and team 514 00:26:00,880 --> 00:26:07,520 Speaker 3: works and and anherent understanding of the playbook. On defense, 515 00:26:07,720 --> 00:26:13,120 Speaker 3: you know, uh uh, shack the quarterback, cover the wide receiver. 516 00:26:13,920 --> 00:26:16,320 Speaker 2: But then you also do mention Josh Dobbs, a quarterback 517 00:26:16,359 --> 00:26:18,800 Speaker 2: going to the Vikings to replace Kirk Cousins, who's out 518 00:26:18,840 --> 00:26:21,119 Speaker 2: with an achilles injury for the season. You know, I 519 00:26:21,160 --> 00:26:23,000 Speaker 2: think about, you know, some of these moves, and I 520 00:26:23,040 --> 00:26:25,040 Speaker 2: think about the quarterback position, and I think about what 521 00:26:25,080 --> 00:26:27,199 Speaker 2: I saw on Monday night with the Raiders and what 522 00:26:27,359 --> 00:26:29,760 Speaker 2: happened after the trade deadline day. 523 00:26:29,800 --> 00:26:31,920 Speaker 1: Well, you you didn't mention the team that beat them. 524 00:26:32,280 --> 00:26:34,440 Speaker 2: I did not mention the team that beat them. Your 525 00:26:34,840 --> 00:26:35,760 Speaker 2: on Detroit Lions. 526 00:26:35,960 --> 00:26:40,720 Speaker 1: Yeah, it was a real game. Jamar's pretty good. 527 00:26:40,920 --> 00:26:43,960 Speaker 2: But Lee, Lee, I digress before Michael starts tooting his 528 00:26:44,000 --> 00:26:45,600 Speaker 2: horn here. I mean, we love the Lions and all 529 00:26:45,680 --> 00:26:47,520 Speaker 2: I mean, Dan Campbell, but you know, I need to 530 00:26:47,600 --> 00:26:51,480 Speaker 2: ask you, you know, you know, Josh Dibbs, Josh Dobbs 531 00:26:51,560 --> 00:26:53,119 Speaker 2: going to the quarterbacks is one thing. Going to the 532 00:26:53,200 --> 00:26:56,960 Speaker 2: Vikings is one thing. Jimmy Garoppolo for the Raiders not 533 00:26:57,000 --> 00:26:59,480 Speaker 2: being able to get DeVante Adams the ball and that costing. 534 00:26:59,800 --> 00:27:03,040 Speaker 2: You know McDaniel's you know his seat there. You know, 535 00:27:03,080 --> 00:27:05,080 Speaker 2: what are your thoughts on the change? You know that 536 00:27:05,440 --> 00:27:07,960 Speaker 2: the Raiders are going undergoing and I mean now we 537 00:27:08,040 --> 00:27:10,400 Speaker 2: have what Antonio Pierce running the show there. I mean 538 00:27:10,640 --> 00:27:13,240 Speaker 2: I remember Antonio Piers playing linebacker for the Giants only 539 00:27:13,280 --> 00:27:13,920 Speaker 2: a decade ago. 540 00:27:14,359 --> 00:27:18,160 Speaker 3: I don't know that quarterback position is so critical. And 541 00:27:18,440 --> 00:27:24,560 Speaker 3: the Raider performance the other night was sort of surprising 542 00:27:24,880 --> 00:27:30,840 Speaker 3: that Garoppolo wasn't able to get the ball up, so 543 00:27:31,359 --> 00:27:36,920 Speaker 3: that that was a very poor performance. But on Jushtubbs, 544 00:27:36,960 --> 00:27:40,160 Speaker 3: one of the interesting fascets is how it would appear 545 00:27:40,320 --> 00:27:46,200 Speaker 3: the one or two things. Either the Cardinal starting quarterback 546 00:27:46,680 --> 00:27:51,080 Speaker 3: is coming back quickly or they've just given up on 547 00:27:51,160 --> 00:27:55,439 Speaker 3: the season, because that's that's the player who is starting 548 00:27:55,440 --> 00:27:57,679 Speaker 3: at quarterback for the Cardinals. 549 00:27:57,960 --> 00:27:59,960 Speaker 6: Lee, I got to ask you about, since we're talking 550 00:28:00,000 --> 00:28:02,960 Speaker 6: a former forty nine ers with Jimmy Garoppolo, what's going 551 00:28:02,960 --> 00:28:05,359 Speaker 6: on with Jim Harbaugh, of course, the head coach for 552 00:28:05,400 --> 00:28:08,800 Speaker 6: the University of Michigan Wolverines. It's not clear whether he's 553 00:28:08,880 --> 00:28:12,280 Speaker 6: returning to the school or not. There have been reports 554 00:28:12,320 --> 00:28:15,320 Speaker 6: that Michigan pulled an offer to him he denied that. 555 00:28:15,560 --> 00:28:19,480 Speaker 6: Now there are reports that Michigan is moving forward with 556 00:28:19,680 --> 00:28:23,800 Speaker 6: an extension for Jim Harbaugh despite all these investigations by 557 00:28:23,840 --> 00:28:29,160 Speaker 6: the NCAA into this sign stealing episode from where you sit? 558 00:28:29,800 --> 00:28:32,280 Speaker 6: If Jim Harbaugh does not stay with Michigan, is there 559 00:28:32,280 --> 00:28:35,119 Speaker 6: a market for him in the NFL? Do NFL teams 560 00:28:35,160 --> 00:28:39,360 Speaker 6: want someone like Jim Harbaugh? Despite all this baggage, Jim. 561 00:28:39,160 --> 00:28:45,400 Speaker 3: Harbaugh has been successful at every level of coaching. Occasionally, 562 00:28:45,840 --> 00:28:48,680 Speaker 3: you know, he may push the envelope. I represented him 563 00:28:48,720 --> 00:28:52,920 Speaker 3: as a player and found them would be very easy 564 00:28:53,120 --> 00:28:56,280 Speaker 3: to deal with. But he wins where we go. He 565 00:28:56,800 --> 00:29:04,200 Speaker 3: simply understands football. He's very smart, and sometimes his concepts 566 00:29:04,400 --> 00:29:07,960 Speaker 3: run up against whatever the authority is, as they did 567 00:29:08,080 --> 00:29:12,239 Speaker 3: in San Francisco. And I don't even know where the 568 00:29:12,280 --> 00:29:17,600 Speaker 3: lines are in college football anymore after the introduction of 569 00:29:17,800 --> 00:29:22,040 Speaker 3: Nils name Im. It's like this. I mean, some of 570 00:29:22,080 --> 00:29:25,560 Speaker 3: the rules that they accuse him of pushing on are 571 00:29:26,360 --> 00:29:32,120 Speaker 3: fairly trivial and pickyun I think the hardest position in 572 00:29:32,280 --> 00:29:36,600 Speaker 3: all for coaching is being a college football coach because 573 00:29:36,600 --> 00:29:38,360 Speaker 3: of all the different things you have to do, and 574 00:29:38,400 --> 00:29:42,320 Speaker 3: he's got that program. Rocket Quitty coach in the pros. Absolutely. 575 00:29:42,560 --> 00:29:44,760 Speaker 6: I think it's very interesting that you point out that 576 00:29:45,040 --> 00:29:47,280 Speaker 6: the ground is moving under you if you're a college 577 00:29:47,280 --> 00:29:50,600 Speaker 6: football coach, because there's so many changes and they're kind 578 00:29:50,600 --> 00:29:52,920 Speaker 6: of making up the rules as they go along as 579 00:29:52,960 --> 00:29:56,240 Speaker 6: a super agent. Is it better for a football coach 580 00:29:56,280 --> 00:29:58,960 Speaker 6: to coach in the NFL? In the NFL or in 581 00:29:59,600 --> 00:30:01,760 Speaker 6: a college studying what is preferable? 582 00:30:01,800 --> 00:30:04,840 Speaker 3: At this point, it's much harder to coach at the 583 00:30:04,960 --> 00:30:10,880 Speaker 3: collegiate level because it involves recruiting, which in and of 584 00:30:10,920 --> 00:30:15,720 Speaker 3: itself is exhausting and therefore being able to project how 585 00:30:15,760 --> 00:30:19,520 Speaker 3: a seventeen year old will mature over time. So you 586 00:30:19,640 --> 00:30:23,360 Speaker 3: have to recruit everyone. Then you have a massive squad, 587 00:30:23,840 --> 00:30:27,560 Speaker 3: maybe one hundred players, so it's more complex than the pros. 588 00:30:27,640 --> 00:30:31,160 Speaker 3: And then you have to deal with young, immature people 589 00:30:31,200 --> 00:30:36,320 Speaker 3: going through emotional changes and their students, so you have 590 00:30:36,400 --> 00:30:40,880 Speaker 3: to keep them eligible. And then you've got assistants to hire, 591 00:30:40,920 --> 00:30:44,320 Speaker 3: a big game plans to put together. And now you 592 00:30:44,400 --> 00:30:47,800 Speaker 3: have to deal with the administration on the campus, and 593 00:30:47,920 --> 00:30:50,680 Speaker 3: you have to deal with the lums, and you have 594 00:30:50,760 --> 00:30:53,040 Speaker 3: to deal with the press. I mean, you even tell 595 00:30:53,120 --> 00:30:56,720 Speaker 3: what Dion panders. They're not doing as well and as 596 00:30:56,760 --> 00:31:00,200 Speaker 3: they were, but he's revitized the program. A coach at 597 00:31:00,200 --> 00:31:05,280 Speaker 3: that level, it's a very challenging job, but there were 598 00:31:05,520 --> 00:31:09,120 Speaker 3: so much in value because when that college football team 599 00:31:09,160 --> 00:31:14,360 Speaker 3: wins a lum giving goes up in every area, application for. 600 00:31:14,440 --> 00:31:15,360 Speaker 1: Enrollment go up. 601 00:31:15,440 --> 00:31:17,880 Speaker 6: Yeah, you're a hero. You are the star as opposed 602 00:31:17,920 --> 00:31:20,840 Speaker 6: to the NFL head coach, where you're almost I mean 603 00:31:21,120 --> 00:31:22,640 Speaker 6: we were joking around. I was saying, you're kind of 604 00:31:22,640 --> 00:31:25,240 Speaker 6: expendable compared to the actual players or the stars. 605 00:31:25,680 --> 00:31:33,480 Speaker 3: So this position is really really impactful and it makes 606 00:31:33,480 --> 00:31:37,640 Speaker 3: a revenue difference for the university. As I said, from 607 00:31:37,640 --> 00:31:42,640 Speaker 3: alumni giving to the amount of attendance you have to 608 00:31:42,760 --> 00:31:47,760 Speaker 3: now branding. But of course college has changed completely because 609 00:31:47,920 --> 00:31:54,240 Speaker 3: you have collectives at major university that are now involved 610 00:31:54,280 --> 00:31:56,680 Speaker 3: in recruiting and transfer portal. 611 00:31:57,000 --> 00:32:01,480 Speaker 1: That's Lee Steinberg, founder and chairman at Steinberg Sports and Entertainment. 612 00:32:01,640 --> 00:32:04,400 Speaker 1: Stick around. We've got more with Steinberg straight ahead on 613 00:32:04,440 --> 00:32:08,920 Speaker 1: the Bloomberg Business of Sports from Bloomberg Radio around the Burg. 614 00:32:13,720 --> 00:32:15,920 Speaker 1: This is the Bloomberg Business of Sports show, but we 615 00:32:15,960 --> 00:32:17,959 Speaker 1: explore the big money issues in the world of sports. 616 00:32:17,960 --> 00:32:21,600 Speaker 1: I'm Michael Barr along with Scarlett Fu and Damian Sasaur. 617 00:32:21,920 --> 00:32:25,760 Speaker 1: We're talking with NFL superagent Lee Steinberg. He is the 618 00:32:25,800 --> 00:32:29,640 Speaker 1: founder and chairman at Steinberg Sports and Entertainment. Let's take 619 00:32:29,680 --> 00:32:33,040 Speaker 1: a listen to more of our conversation. Let me shift 620 00:32:33,040 --> 00:32:35,760 Speaker 1: gears just a bit on the NFL, and I want 621 00:32:35,760 --> 00:32:41,600 Speaker 1: to ask about how streaming on NFL viewership has affected 622 00:32:42,560 --> 00:32:45,920 Speaker 1: your job and the NFL in general. 623 00:32:46,560 --> 00:32:52,120 Speaker 3: So today's consumer and sports fans looks at the world 624 00:32:52,200 --> 00:32:57,320 Speaker 3: differently than just network television, and so the fact that 625 00:32:57,840 --> 00:33:02,719 Speaker 3: information is communicated over your cell phone, that people are 626 00:33:02,760 --> 00:33:07,640 Speaker 3: active and moving, it's just an enhancement to the overall package. 627 00:33:08,000 --> 00:33:12,320 Speaker 3: But look, we've never seen in the United States a 628 00:33:12,480 --> 00:33:17,800 Speaker 3: sport this completely dominant as National Football League is today. 629 00:33:18,240 --> 00:33:22,080 Speaker 3: The eighty something of the top one hundred shows last year, 630 00:33:22,080 --> 00:33:27,760 Speaker 3: we're NFL football. That means it's not only the most 631 00:33:27,800 --> 00:33:32,840 Speaker 3: popular sport, its most popular form of entertainment in this country. 632 00:33:33,480 --> 00:33:38,120 Speaker 3: So my only problem is is they keep parceling out, 633 00:33:38,320 --> 00:33:43,320 Speaker 3: as they have with Amazon, the rights to different parts 634 00:33:43,360 --> 00:33:46,239 Speaker 3: of the package, so that you can only get it 635 00:33:46,280 --> 00:33:51,440 Speaker 3: if you pay for that service. Eventually that will cut 636 00:33:51,480 --> 00:33:55,200 Speaker 3: down the overall market. And the NFL has been so 637 00:33:55,280 --> 00:33:58,640 Speaker 3: successful because if you have one hundred and nineteen dollars 638 00:33:58,640 --> 00:34:04,440 Speaker 3: and to buy television, you can get all NFL programing 639 00:34:04,880 --> 00:34:06,200 Speaker 3: until the Amazon deal. 640 00:34:06,800 --> 00:34:08,800 Speaker 2: Lee. You know, I have to ask you. You know you 641 00:34:08,520 --> 00:34:12,239 Speaker 2: you put the focus on recruiting, and you know, let's 642 00:34:12,280 --> 00:34:14,000 Speaker 2: take that to the next level. Let's take that to 643 00:34:14,160 --> 00:34:16,120 Speaker 2: the pros, to the NFL. You know, you're a general 644 00:34:16,160 --> 00:34:19,239 Speaker 2: manager and it's the off season. I'm fast forwarding here 645 00:34:19,520 --> 00:34:20,960 Speaker 2: and you're the New York Jets and you need to 646 00:34:21,120 --> 00:34:22,960 Speaker 2: recruit an offensive tackle. 647 00:34:23,000 --> 00:34:25,680 Speaker 1: You need to recruit. Of course it does. You have 648 00:34:25,719 --> 00:34:26,640 Speaker 1: to recruit. 649 00:34:26,360 --> 00:34:29,719 Speaker 2: Offensive linemen from other teams to come and block for 650 00:34:29,800 --> 00:34:32,359 Speaker 2: Aaron Rodgers in a state, the state of New York, 651 00:34:32,440 --> 00:34:35,799 Speaker 2: where the tax regime is slightly more onerous than you 652 00:34:35,800 --> 00:34:38,640 Speaker 2: would find in other places like Florida and Texas. You know, 653 00:34:38,840 --> 00:34:43,319 Speaker 2: does that calculus play into you know, players decisions on 654 00:34:43,400 --> 00:34:45,560 Speaker 2: whether or not to move to another team. Like if 655 00:34:45,560 --> 00:34:47,759 Speaker 2: I were a big offensive tackle and I had a 656 00:34:47,840 --> 00:34:49,759 Speaker 2: choice to make X amount of dollars on an after 657 00:34:49,760 --> 00:34:52,520 Speaker 2: tax basis in New York relative to Texas or Florida, 658 00:34:52,640 --> 00:34:54,360 Speaker 2: is that really going to impact my decision? 659 00:34:54,520 --> 00:34:58,080 Speaker 3: So every player is different, and with a free agent, 660 00:34:58,480 --> 00:35:02,560 Speaker 3: the most effective way to approach it is have them 661 00:35:02,600 --> 00:35:06,440 Speaker 3: sit down and make a list of priorities. Is it 662 00:35:06,600 --> 00:35:10,440 Speaker 3: her term economic gain, there will be the decision maker. 663 00:35:10,640 --> 00:35:15,280 Speaker 3: Is it long term economic security? Is it geographical location, 664 00:35:15,520 --> 00:35:20,960 Speaker 3: the weather, the lifestyle. Is it obviously being a starter, 665 00:35:21,480 --> 00:35:23,800 Speaker 3: But is it being on a winning team? Is that 666 00:35:23,960 --> 00:35:31,040 Speaker 3: the quality of coaching? Is it a supporting cast? Is 667 00:35:31,080 --> 00:35:32,000 Speaker 3: it profile? 668 00:35:32,760 --> 00:35:36,880 Speaker 7: And you'll find that that consolation a value sits differently 669 00:35:37,600 --> 00:35:43,200 Speaker 7: into different players, shiky in terms of how they make decisions, so. 670 00:35:43,080 --> 00:35:46,680 Speaker 3: That for some winning is everything. For some it's just 671 00:35:46,880 --> 00:35:50,919 Speaker 3: economics and they will go to the highest bidder. For some, 672 00:35:52,000 --> 00:35:55,919 Speaker 3: you know they they care deeply whether or not they're 673 00:35:55,920 --> 00:35:58,719 Speaker 3: going to be in a winning program, or for some 674 00:35:58,960 --> 00:36:02,440 Speaker 3: it might be a being in an urban area or 675 00:36:02,480 --> 00:36:05,440 Speaker 3: not being in an urban area and how the family 676 00:36:05,520 --> 00:36:09,959 Speaker 3: feels about it. So it breaks down differently in each 677 00:36:10,080 --> 00:36:13,440 Speaker 3: free agent's line and they make that evaluation. So my 678 00:36:13,600 --> 00:36:18,360 Speaker 3: key is getting into the heart and mind of a 679 00:36:18,400 --> 00:36:25,239 Speaker 3: young man and having him reveal his shoe piece to fulfillment, 680 00:36:26,480 --> 00:36:30,560 Speaker 3: which may be different than the surface its listing skills 681 00:36:30,600 --> 00:36:34,520 Speaker 3: are so key in all this. It's being able to 682 00:36:34,640 --> 00:36:38,600 Speaker 3: understand the deepest anxieties and fears and greatest hopes and 683 00:36:38,719 --> 00:36:43,719 Speaker 3: dreams of a person and see the world the way 684 00:36:43,760 --> 00:36:46,279 Speaker 3: they see it. So that's the challenge. But if you 685 00:36:46,280 --> 00:36:50,719 Speaker 3: can get the player to be clear in terms of 686 00:36:50,719 --> 00:36:54,040 Speaker 3: what the priorities are, then you can stick the options 687 00:36:54,080 --> 00:36:58,319 Speaker 3: down and evaluate. Otherwise you get a decision making quandary 688 00:36:58,400 --> 00:37:03,480 Speaker 3: called cognitive ass which as the player going back and 689 00:37:03,520 --> 00:37:05,960 Speaker 3: forth between two different options. 690 00:37:06,480 --> 00:37:11,680 Speaker 1: NFL super agent super dude Lee Steinberg, by the way, 691 00:37:12,160 --> 00:37:15,080 Speaker 1: case people are wondering. He's often credited as the real 692 00:37:15,120 --> 00:37:19,240 Speaker 1: life inspiration for the Oscar winning film Jerry maguire. Lee, 693 00:37:19,400 --> 00:37:23,000 Speaker 1: founder and chairman of Steinberg Sports and Entertainment. Thank you 694 00:37:23,120 --> 00:37:25,720 Speaker 1: so much, sir for joining us on the Bloomberg Business 695 00:37:25,719 --> 00:37:26,200 Speaker 1: of Sports. 696 00:37:26,360 --> 00:37:26,839 Speaker 3: Thank you. 697 00:37:28,440 --> 00:37:31,040 Speaker 1: Aber. Thanks to Lee Steinberg for joining us. He is 698 00:37:31,120 --> 00:37:34,080 Speaker 1: the founder and chairman at Steinberg Sports and Entertainment and 699 00:37:34,200 --> 00:37:37,200 Speaker 1: responsible for a lot of big money deals in the 700 00:37:37,360 --> 00:37:40,920 Speaker 1: NFL and beyond. Now, if you've missed any of that conversation, 701 00:37:41,120 --> 00:37:44,279 Speaker 1: it is online right now on the Bloomberg Business of 702 00:37:44,320 --> 00:37:48,080 Speaker 1: Sports podcast. Find that on Apple, Spotify and on all 703 00:37:48,160 --> 00:37:51,760 Speaker 1: your favorite podcast platforms. By the way, keep your eye 704 00:37:51,760 --> 00:37:55,320 Speaker 1: on this story. Pen Entertainment plans to launch his official 705 00:37:55,360 --> 00:38:00,560 Speaker 1: sports betting partnership with ESPN in seventeen states starting November fourteenth. 706 00:38:00,640 --> 00:38:04,120 Speaker 1: Now it's subject to final approvals, of course. The exclusive agreement, 707 00:38:04,440 --> 00:38:07,279 Speaker 1: which was announced in August, gives the casino operator the 708 00:38:07,320 --> 00:38:10,880 Speaker 1: right to use the ESPN bet name in the US. 709 00:38:10,960 --> 00:38:15,400 Speaker 1: The ten year deal over one point five billion dollars. 710 00:38:15,760 --> 00:38:19,680 Speaker 1: Penn will rebrand its Barstools sportsbook with ESPN up on launch. 711 00:38:19,760 --> 00:38:22,000 Speaker 1: Keep your eye on that story too. This is the 712 00:38:22,000 --> 00:38:24,719 Speaker 1: Bloomberg Business of Sports show when we're here each and 713 00:38:24,800 --> 00:38:27,840 Speaker 1: every week at the same time, plus online wherever you 714 00:38:27,880 --> 00:38:31,640 Speaker 1: get your podcasts. You can find me on X at 715 00:38:31,640 --> 00:38:33,359 Speaker 1: Big Bar Sports. 716 00:38:32,840 --> 00:38:35,280 Speaker 6: And I'm on X at Scarlettfoo. 717 00:38:34,760 --> 00:38:36,280 Speaker 2: And I'm on XTD SASO. 718 00:38:36,480 --> 00:38:38,799 Speaker 1: Thank you for joining us. Tune in again next week 719 00:38:38,840 --> 00:38:42,000 Speaker 1: for the latest on the stories moving big old money 720 00:38:42,040 --> 00:38:44,880 Speaker 1: in the world of sports. You're listening to Bloomberg Business 721 00:38:44,960 --> 00:38:48,560 Speaker 1: of Sports from Bloomberg Radio around the world.