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Speaker 1: I'm Michael bar along with Scott sash Nick, and this

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Speaker 1: is the Bloomberg Business of Sports podcast where we yeah see,

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Speaker 1: I'll explain that we in the second explore the big

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Speaker 1: money issues in the world of sports. Our partner in

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Speaker 1: crime Evan Nobie Williams. He is enjoying the day off.

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Speaker 1: Scott couldn't make his way to the studio again today

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Speaker 1: as he prepares for New Year's Eve and the festivities

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Speaker 1: that come along with that. So I'm just stuck here

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Speaker 1: all alone. Well, Scott phones it in, telling are you

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Speaker 1: trying to do uh commercial for halitosas? Does my breath stink?

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Speaker 1: What is it? What's well? Yes, but that's not why

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Speaker 1: I'm at home. If you relied on New Jersey transit.

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Speaker 1: And by the way, Colin Tipton must feel awful, you said,

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Speaker 1: did I sit here alone? I know he's on the

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Speaker 1: other side of the glass because I just spoke to him,

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Speaker 1: so you know that's But what would you rather have

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Speaker 1: a coworker do, Bar? What would you rather have a

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Speaker 1: coworker phone it in? I'd rather have the phoned in.

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Speaker 1: There we go, So that's what I'm doing. Like you know,

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Speaker 1: Noby Williams, I think sometimes mail did it. We will know.

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Speaker 1: Well now we'll find out if you listen to the

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Speaker 1: show again, but I'm your phone of it in Thank

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Speaker 1: you very much. Well, Happy New Year to you man,

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Speaker 1: Same to you, my friend. We just discussed that neither

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Speaker 1: one of us are doing anything and we both are

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Speaker 1: very happy with that decision. Darn too, and I'm an

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Speaker 1: old man. Hey, we got some topics to talk about. First, Well,

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Speaker 1: what do you know, looks like college football won't go

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Speaker 1: dark on New Year's Day because Verizon and Disney they

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Speaker 1: have averted a bold day blackout with a contract accord. Well,

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Speaker 1: I love these, you know, these carriage disputes as they're called,

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Speaker 1: because they've been so many of them, and it's always

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Speaker 1: about the same thing, you know what. It's about that

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Speaker 1: the entity in this case, Disney, wants more money to

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Speaker 1: be carried on certain carriers, and the carriages are saying, well,

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Speaker 1: the numbers for all of your networks are going down.

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Speaker 1: We don't want to pay what you're asking. But this

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Speaker 1: is the first time, believe it or not, far this

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Speaker 1: is the first time in all of these that I

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Speaker 1: was directly affected because I am a new Files customer,

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Speaker 1: which is of course Verizon, and I'm like, if I could,

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Speaker 1: can I do without? I'm just wondering if it goes dark,

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Speaker 1: can I do without ABC? ESPN, ESPN to the whole

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Speaker 1: family of Disney Networks. And you know what, I think,

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Speaker 1: For the first time in my life, even with my

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Speaker 1: son and wife, I think, I'm like, I'm okay there.

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Speaker 1: There isn't anything you could take away from me at

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Speaker 1: this point that would say, Okay, I want to pay more.

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Speaker 1: But you had a funny feeling because ABC is involved

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Speaker 1: that they would get a deal done, and FILES is

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Speaker 1: in competition in every market. They're always in a competition

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Speaker 1: with one of the major cable carriers. And if you

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Speaker 1: go out go out there and try and say, well

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Speaker 1: we have this, this, this and this, but we don't

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Speaker 1: have ESPN because of a characters to you, good luck

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Speaker 1: beating the cable operators. Well, I wish that I could

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Speaker 1: say that I can do with it, nor I couldn't

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Speaker 1: because I would miss Which one would you miss? I've

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Speaker 1: missed the Rose Bowl. I would not like that one

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Speaker 1: dog gone bit. Well, you could go somewhere and watch

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Speaker 1: the Rolls ball. I've been a one off. But do

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Speaker 1: you really need ABC or ESPN religiously everything. Do you

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Speaker 1: have to have it? Hey? New Years you wouldn't get

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Speaker 1: there either. What's his name? Ryan? What? Ryan seacrestrest? Man?

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Speaker 1: Is it really? I mean I know that Dick Clark,

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Speaker 1: And now we move on. If it really if a

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Speaker 1: ball drops and you don't see Ryan Seacrest, is it

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Speaker 1: really New Year's Eh? Let's see. That's the whole point.

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Speaker 1: That's the whole part of the tradition. Man. That's that's

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Speaker 1: why when you go home, you turn on the I

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Speaker 1: see all right here I go. I remember when Guy

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Speaker 1: Lombardo was on TV and I watched them as a kid.

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Speaker 1: This is why everybody is thirsting for content. It's about

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Speaker 1: how do you differentiate yourself? What can you get that's

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Speaker 1: exclusive and people will just clamor to have it? And

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Speaker 1: the differentiator all these networks now and we know we're narrowcasting.

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Speaker 1: There's no more broadcasting. It's how compelling is your content?

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Speaker 1: Can you sustain the audience? Can you demand their attention?

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Speaker 1: And the event of something like this, you want to

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Speaker 1: hip the prices? Are the operators absolutely beholden to you

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Speaker 1: because the audience demands it. I can't think of too

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Speaker 1: many things where that's the case these days. ESPN is

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Speaker 1: probably top of the list because sports fans without their

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Speaker 1: ESPN are going to be lost. So the ABC had

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Speaker 1: some strains here negotiating leverage. But what other content is

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Speaker 1: there like that where everybody just simply has to have it.

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Speaker 1: I thought when I threw that guy Lombardo pitch and

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Speaker 1: it just hung out there, I thought you were going

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Speaker 1: to not get out of the park. But you were

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Speaker 1: nice to I was nice. We've already addressed old man

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Speaker 1: bark Hey, do you want a piece of the Pack

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Speaker 1: twelve conference? Do I want a piece of the Pack? Well? Yeah,

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Speaker 1: you know interesting. In a proposal that floated out to

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Speaker 1: the chancellors of the universities, they're looking at giving up

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Speaker 1: ten ownership of the conference and will be sort of

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Speaker 1: a new Pack twelve equity stake values the conference at

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Speaker 1: about five billion dollars. That's the being. Remember this is

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Speaker 1: college not pro sports bar um. But the problem for

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Speaker 1: the Pack twelve is they're just not generating the kind

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Speaker 1: of revenue that say, the SEC, the Big Ten. They're

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Speaker 1: lagging these other conferences. And you gotta wonder at what

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Speaker 1: point does Larry Scott, I mean, these are marquee teams.

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Speaker 1: Here you see on a USC Washington. This isn't you know,

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Speaker 1: some middle tier games the middle tier schools. This is

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Speaker 1: the Pack twelve. But they've sort of made themselves more

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Speaker 1: of a media company than a college conference. And the

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Speaker 1: expenses are high. Uh, if you're going to run all

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Speaker 1: those networks that they that they've had and the numbers

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Speaker 1: are behind. So this is a way to sort of

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Speaker 1: inject immediate capital and return it to the schools and

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Speaker 1: then see if sort of a strategic investor like private

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Speaker 1: equity can figure out what to do with the networks,

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Speaker 1: what to do, how do they generate revenue some of

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Speaker 1: the big brands that they have, because right now it's

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Speaker 1: just not working as well as some of the other conferences.

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Speaker 1: Now I should add that the Oregonian, Uh, they came

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Speaker 1: out with this story and they're reporting that private investors

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Speaker 1: would only make sure I understand this, they would own

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Speaker 1: ten of the equity and the newly form entity is

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Speaker 1: what obviously five million dollars, Like you said, it's five

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Speaker 1: billion dollars for the whole thing, and then five million

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Speaker 1: dollars is what they would invest. And that's a lot

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Speaker 1: of change. Yeah, that's a lot of change. But you

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Speaker 1: know a lot of these private equity companies and we've

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Speaker 1: seen the likes of private exequity partners. You know that

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Speaker 1: they are involved in sports before, so this is not

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Speaker 1: strange to them. But what they want to see out

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Speaker 1: of the deck is how are we making money? What

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Speaker 1: are we doing with these schools, with these games, with

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Speaker 1: these networks? How are we going to maximize revenue? Because

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Speaker 1: remember they're just getting this is not done out of

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Speaker 1: kindness of heart. They want to see what's called r

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Speaker 1: O I know this PA twelve, Well, they want r

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Speaker 1: O I out of the p a C. What is

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Speaker 1: the return on investment in this money? And until they

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Speaker 1: see some sort of clear plan and if they can

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Speaker 1: deem that there is a path through profitability and a

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Speaker 1: and a way to monetize that maybe isn't being done. Now.

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Speaker 1: I'd like to see who's raising their hands and saying, yeah, here,

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Speaker 1: but here, take my money for this ten percent stake

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Speaker 1: to me spend the clock forward. Now, the pack twelve

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Speaker 1: current TV rights contracts that expires in well, I mean,

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Speaker 1: obviously we all know the TV contracts are a big

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Speaker 1: part of where the numbers come from the total revenue

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Speaker 1: but even there they've lagged. I mean, the SEC has

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Speaker 1: a deal coming up. These are just gotta have it,

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Speaker 1: must see, Uh things properties and the PAC twelve obviously

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Speaker 1: are based on the West coast. You wonder how much

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Speaker 1: East Coast audience they get. The games start very late.

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Speaker 1: I mean, do you see a lot of you see

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Speaker 1: as you c l a USC games when you're watching.

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Speaker 1: I don't because they started ten thirty. I mean they've

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Speaker 1: tried to position themselves as a strong footprint in Asia.

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Speaker 1: They make trips to China with the Pack twelve. But

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Speaker 1: how do you ring the nickel? That's that's the over

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Speaker 1: and underlying questions. How do you ring more duckets out

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Speaker 1: of this? So we're private equity, which normally has an

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Speaker 1: investment horizon of what's six to eight years, Like they

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Speaker 1: want to get in, they want to see some revenue,

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Speaker 1: and they want to get out, and we'd have to

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Speaker 1: see what sort of control We don't know this part,

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Speaker 1: what sorts of saying operations, what these investors have, Uh,

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Speaker 1: what what kind of timeline? What what is their exit strategy?

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Speaker 1: That those are the cons of thing we'd have to

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Speaker 1: see before we could determine whether it really makes sense

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Speaker 1: for anybody from the college to the pros. I can't

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Speaker 1: believe first of all that the regular season is now

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Speaker 1: over Week seventeen wrapped up, And how do you do? Actually,

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Speaker 1: I came in second in in two leagues where I

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Speaker 1: was in the championship series for my fantasy sports. I

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Speaker 1: know it was close second place. Yes, you do, you

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Speaker 1: get you get a second place prize. All right, Well,

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Speaker 1: then it's not a it's not a boxer Rice Serroney

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Speaker 1: and Lee Press on nails. But I can't believe it.

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Speaker 1: This is a long enough NFL season, then hey, they

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Speaker 1: it goes for a long time. You know when just

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Speaker 1: flip the calendar that you gotta start talking playoffs. Well

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Speaker 1: now and here it is. I'm gonna I'm gonna give

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Speaker 1: you the playoff picture and and how this will impact business.

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Speaker 1: Let's start off now with the NFC, the Saints and

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Speaker 1: the Rams. They have a bye next weekend. In the

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Speaker 1: first round, the Bears play the Eagles, the Seahawks play

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Speaker 1: the Cowboys. Does that Actually it does? And and here's why.

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Speaker 1: Because you're talking about the Eagles, the previous Super Bowl champs,

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Speaker 1: and they can get knocked out in the first round

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Speaker 1: by the Bears, who they have a very solid defense.

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Speaker 1: That could happen. I worry about that. You know, if

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Speaker 1: you're an Eagles fan in the a F I'm sure there.

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Speaker 1: I mean, there's a reason they're coming in at the

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Speaker 1: sixth seed, and you know how to wait late to

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Speaker 1: see if they were going to qualify. But the big

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Speaker 1: one is the next game you're gonna mention, go ahead,

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Speaker 1: and the other matchup, this is the one that commands

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Speaker 1: the attention, the Seahawks playing the Cowboys. Russell Wilson, You've

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Speaker 1: got you've got your star, You've got a team with

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Speaker 1: national recognition against the Cowboys, America's team. Everybody loves to

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Speaker 1: be like Howard Stern. I've used this analogy before. Half

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Speaker 1: the people tuned in because they love Howard, half the

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Speaker 1: people tuned in because they hate it, and a little

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Speaker 1: bit tuned in because they wanted to see what he'd

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Speaker 1: say next. It's the same as Cowboys. Half the crowd's

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Speaker 1: rooting against them, half rooting form, and some just want

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Speaker 1: to see. We'll see what's going on. That is a

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Speaker 1: huge audience game. Seahawks Cowboys is going to be your

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Speaker 1: prime time, dominate, the weekend game and one where all

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Speaker 1: the numbers will come from. Say what you want about

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Speaker 1: the Cowboys, you have to give it up for for

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Speaker 1: Ezekiel Elliott. I mean the man. The man just moved

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Speaker 1: this season. And as a running book, weren't they talking

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Speaker 1: about firing Jason Garrett like five times that I hear

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Speaker 1: that throughout the Yeah, we gotta go. The beginning of

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Speaker 1: the season they were talking about it. And now look

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Speaker 1: at this, and you got Russell Wilson on the episode.

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Speaker 1: Somebody had to say it. Somebody had to say, I'm

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Speaker 1: proud of you. Ac. The Chiefs and the Patriots, they

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Speaker 1: have a first round by and then the Colts face

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Speaker 1: the Texans this one and the other one. I'm like, wow,

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Speaker 1: this is gonna be something. The Chargers face the Ravens. Okay, okay, good,

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Speaker 1: I'm glad we're on the scene. Like the Colts could

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Speaker 1: play the Texans next door to me, and I wouldn't

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Speaker 1: go to the Chargers Ravens. I mean, yeah, I hear

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Speaker 1: a lot about the Ravens defense, but I don't know.

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Speaker 1: I mean, I'm just not that excited about the charges

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Speaker 1: in the Ravens. But you know what, let let me

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Speaker 1: just this is, this is one of those weekends. When

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Speaker 1: I'm looking ahead and then I see Casey and the

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Speaker 1: Patriots waiting to play. I could skip the entire FC

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Speaker 1: first round, the wild card weekend, and then let me

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Speaker 1: see whoever advances. Okay, now I've got you know, Patrick Mahomes.

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Speaker 1: Now I've got Tom Brady and the Patriots. Maybe that'll

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Speaker 1: bring in my I know most people don't feel that way,

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Speaker 1: but I just don't see what sizzle in either of these.

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Speaker 1: And they'll try to hype the Ravens playing well and

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Speaker 1: they could go to the super Bowl. Great defense and

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Speaker 1: oh the charges, Philip Rivers. I just it's a hard hype.

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Speaker 1: It's to me that that's drummed up hype. I would

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Speaker 1: skip it and wait for wait for the next rep.

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Speaker 1: But I do want to see Seahawk Cowboys now for

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Speaker 1: what it pertains to us. And you mentioned it briefly.

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Speaker 1: Ratings which turns in the money. Where do you see

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Speaker 1: that going? Listen? Everything for this year indicators are great.

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Speaker 1: I mean a year ago at this time we were

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Speaker 1: talking about, well, some were talking about the NFL's in trouble, remember,

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Speaker 1: and protests and down ratings and all the head winds

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Speaker 1: for the NFL. You know, what the NFL just keeps doing?

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Speaker 1: Bar And I know you know the answer. What do

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Speaker 1: they keep doing? Yeah, he's making money And let's just

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Speaker 1: wait again. We were talking about right speeds for pac twelve.

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Speaker 1: When the next round of the NFL deals is up,

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Speaker 1: look out, brother, because these numbers are going to skyrocket.

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Speaker 1: And I wrote a story I don't know, maybe two

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Speaker 1: weeks ago, when I talked to the Eric Shanks, the

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Speaker 1: CEO of Fox Sports, and he said, if if I

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Speaker 1: had just signed or renewed the NFL with a twenty

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Speaker 1: year rights agreement, top of mind for me would be

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Speaker 1: renewing the NFL twenty one years from now. I mean,

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Speaker 1: does that not hammer home the importance of the NFL

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Speaker 1: in legitimizing these networks and delivering solid, guaranteed demographic love

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Speaker 1: the audience to advertisers. This if you want eyeballs these days,

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Speaker 1: you have to figure out a way to draw them.

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Speaker 1: And nothing, nothing on TV has proven better than the NFL.

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Speaker 1: See and this goes back to our first topic, by

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Speaker 1: the way, about cable providers and people trying to cut

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Speaker 1: the cable chord. Well, listen, if you want to watch

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Speaker 1: these games on your beautiful seventy television set. You need

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Speaker 1: cable for the most part. And so that's why, that's

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Speaker 1: why I don't believe cable is going anywhere. Oh it's

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Speaker 1: not going anywhere right now, but uh they should. I mean,

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Speaker 1: we've got to remember long ago they needed to rename

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Speaker 1: the industry. It's not the cable industry anymore because what

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Speaker 1: they do, what they do in the advantage of these

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Speaker 1: companies and I'm not calling them cable companies anymore, broadband companies.

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Speaker 1: They deliver the broadband to the home and folks are not, cannot,

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Speaker 1: will not live without strong broadband these days. And that

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Speaker 1: is a wonderful business to be and it will even

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Speaker 1: if you've cut the chord. You need your broadband, that's fine.

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Speaker 1: You got to figure out a way. So you watch

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Speaker 1: how these companies than morph from just the content to

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Speaker 1: the broadband provider and figure out how to better monetize that.

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Speaker 1: Maybe you could figure out a content play with stronger

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Speaker 1: broadband or faster internet. Um, they're going to see some

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Speaker 1: creativity here in this, in this, in this, in this realm.

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Speaker 1: But to call them cable companies anymore, that's just that's

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Speaker 1: just not what they are. So the industry has to

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Speaker 1: catch up and kind of change people's thinking into the

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Speaker 1: moniker of what it is. It's been their broadband companies.

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Speaker 1: To everyone out there listening, listen, have a very happy

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Speaker 1: new year. Go out uh and enjoy within moderation. Go out,

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Speaker 1: but go have some uh, go have some fun and

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Speaker 1: or just spend the quiet evening like the two old

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Speaker 1: men like we are, and just stay at home and

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Speaker 1: watch the ball drop. Scott my man, Happy New Year

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Speaker 1: to user. You got the same to you, my man,

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Speaker 1: and I will see you on the flip side return

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Speaker 1: very soon. You got it. This is the Bloomberg Business

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Speaker 1: of Sports podcast. I'm Michael la Barre along with Scott Sasnick.

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Speaker 1: We are here each and every Monday, Wednesday and Thursday

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Speaker 1: exploring the world of money in sports. Some Bloomberg Radio

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Speaker 1: around the world and online where you get your bott