1 00:00:02,440 --> 00:00:06,760 Speaker 1: Bloomberg Audio Studios, Podcasts, radio News. 2 00:00:07,680 --> 00:00:11,560 Speaker 2: This is Bloomberg Business of Sports. Business of Sports can 3 00:00:11,600 --> 00:00:14,160 Speaker 2: be intimidating for hard for a start to break into. 4 00:00:14,280 --> 00:00:17,279 Speaker 3: We really appreciate when our owners are actually better, you know, 5 00:00:17,360 --> 00:00:20,239 Speaker 3: with us through the journey teams ours especially, then very 6 00:00:20,239 --> 00:00:23,040 Speaker 3: intentional to diversify at all levels of the company. 7 00:00:23,120 --> 00:00:25,200 Speaker 4: I think we're in the golden years for the NFL 8 00:00:25,440 --> 00:00:29,400 Speaker 4: and college football. Our demographic reach has continued to explode. 9 00:00:29,520 --> 00:00:33,160 Speaker 5: This is going to be really unlocking the streaming platform 10 00:00:33,240 --> 00:00:34,480 Speaker 5: for sports fans. 11 00:00:34,280 --> 00:00:35,640 Speaker 4: Sports evaluations arising. 12 00:00:35,800 --> 00:00:37,960 Speaker 2: We'll see when they peak. You don't have to be 13 00:00:38,240 --> 00:00:41,160 Speaker 2: the best in your sports to make a whole ton 14 00:00:41,560 --> 00:00:42,320 Speaker 2: of money. 15 00:00:42,360 --> 00:00:45,640 Speaker 5: Bloomberg Business of Sports from Bloomberg Radio Going. 16 00:00:47,200 --> 00:00:49,879 Speaker 2: This is the Bloomberg Business of Sports show, where we 17 00:00:49,920 --> 00:00:52,840 Speaker 2: explore the big money issues in the world of sports. 18 00:00:52,920 --> 00:00:55,640 Speaker 3: I'm Michael Baum and I'm Imian Sasaur Scarlett Foo. 19 00:00:55,840 --> 00:00:58,640 Speaker 2: That's when you're the important people on assignment. That's what's 20 00:00:58,680 --> 00:01:02,920 Speaker 2: happening you back though. Coming up on the show, we'll 21 00:01:02,960 --> 00:01:05,640 Speaker 2: wrap up this year's Summer Games and look ahead to 22 00:01:05,680 --> 00:01:07,919 Speaker 2: the Olympics coming to the US. 23 00:01:08,120 --> 00:01:10,920 Speaker 3: That's right, the twenty thirty four Winter Games will be 24 00:01:11,080 --> 00:01:13,920 Speaker 3: in Salt Lake City and we'll talk with the president 25 00:01:13,959 --> 00:01:16,520 Speaker 3: and CEO of the Salt Lake City, Utah Committee for 26 00:01:16,520 --> 00:01:18,000 Speaker 3: the game's Frazer book. 27 00:01:18,160 --> 00:01:21,280 Speaker 5: The nice thing about many of our venues is there mountains. 28 00:01:21,360 --> 00:01:23,520 Speaker 5: We don't have to put mountains in place, and we 29 00:01:23,640 --> 00:01:28,040 Speaker 5: have fabulous ski resorts who become our partners in hosting 30 00:01:29,080 --> 00:01:33,040 Speaker 5: the world. But every single one of our permanent venues 31 00:01:33,040 --> 00:01:35,840 Speaker 5: that we need is in place, including the Olympic Village, 32 00:01:36,400 --> 00:01:40,920 Speaker 5: opening and closing ceremonies, speed skating, everything is there, so 33 00:01:41,040 --> 00:01:43,839 Speaker 5: it is a money saver. We are the best place, 34 00:01:43,920 --> 00:01:47,160 Speaker 5: I believe, economically in the world to host games because 35 00:01:47,200 --> 00:01:48,800 Speaker 5: of that existing infrastructure. 36 00:01:48,960 --> 00:01:51,840 Speaker 2: We'll dive into the Winter Games in Utah on the 37 00:01:51,880 --> 00:01:55,240 Speaker 2: way here on the Bloomberg Business of Sports. But first 38 00:01:55,280 --> 00:01:59,600 Speaker 2: we've got the Summer Games coming to Hollywood a. 39 00:01:59,520 --> 00:02:03,920 Speaker 3: Little that's right, and the NFL is excited because Michael Barr, 40 00:02:03,960 --> 00:02:09,800 Speaker 3: for the very first time we may have some football ohn. 41 00:02:08,680 --> 00:02:12,040 Speaker 2: To take us through how the NFL is getting ready 42 00:02:12,120 --> 00:02:15,560 Speaker 2: for flag football making its debut in the Summer Games 43 00:02:15,600 --> 00:02:19,120 Speaker 2: in La and more. We welcome friend of the show, 44 00:02:19,440 --> 00:02:25,760 Speaker 2: Bloomberg US sports business reporter Randa Williams. Hello, Randall, let's 45 00:02:25,840 --> 00:02:27,680 Speaker 2: have no Well, let's start. 46 00:02:27,760 --> 00:02:27,959 Speaker 1: Man. 47 00:02:28,040 --> 00:02:32,720 Speaker 2: It's like, hey, it's the NFL and the Olympics. Who 48 00:02:32,760 --> 00:02:34,639 Speaker 2: knew that was going to be kind of a marriage. 49 00:02:35,240 --> 00:02:37,760 Speaker 6: Well, they've had a I said. The NFL has been 50 00:02:39,960 --> 00:02:41,880 Speaker 6: they've been trying to grow flag football for the past 51 00:02:41,919 --> 00:02:45,720 Speaker 6: eight years or so, and now I think it got 52 00:02:46,240 --> 00:02:49,440 Speaker 6: put in the Olympics Games last year and so this 53 00:02:49,440 --> 00:02:50,880 Speaker 6: this will be a big moment for them. 54 00:02:51,200 --> 00:02:53,640 Speaker 3: So Randall, I mean, I've seen flag football. Apparently the 55 00:02:53,680 --> 00:02:56,720 Speaker 3: field is only twenty five yards wide, it's fifty yards long, 56 00:02:56,800 --> 00:02:59,520 Speaker 3: there's just two twenty minute halves, all that kind of stuff. 57 00:03:00,440 --> 00:03:03,040 Speaker 3: Are other countries playing flag football right now? 58 00:03:03,080 --> 00:03:03,480 Speaker 2: That way? 59 00:03:03,560 --> 00:03:05,640 Speaker 3: I mean, take me through that they are. 60 00:03:05,800 --> 00:03:07,399 Speaker 4: I think it comes in different formats. 61 00:03:07,400 --> 00:03:10,280 Speaker 6: But when the Olympics happen in people see it's twenty 62 00:03:10,280 --> 00:03:13,040 Speaker 6: five by fifty and if NFL players are allowed to 63 00:03:13,080 --> 00:03:15,480 Speaker 6: play in it, then I think that that model will 64 00:03:15,520 --> 00:03:19,799 Speaker 6: be adopted worldwide because that'll be the model that people see. 65 00:03:20,200 --> 00:03:22,960 Speaker 6: So I think, and I'd say that people are definitely 66 00:03:22,960 --> 00:03:26,400 Speaker 6: playing it. It isn't as popular as basketball or as 67 00:03:27,080 --> 00:03:30,080 Speaker 6: of course European football as well, but it's growing. 68 00:03:30,120 --> 00:03:30,960 Speaker 4: It's definitely growing. 69 00:03:31,080 --> 00:03:33,079 Speaker 3: No doubt, no doubt. But you know, here's my other 70 00:03:33,160 --> 00:03:36,040 Speaker 3: question for you. Okay, so maybe you have some men 71 00:03:36,040 --> 00:03:38,120 Speaker 3: out there playing flag football, but what about the women. 72 00:03:38,840 --> 00:03:39,600 Speaker 4: That's where it's big. 73 00:03:40,400 --> 00:03:43,160 Speaker 6: Women is where is where flag football has seen the 74 00:03:43,160 --> 00:03:47,160 Speaker 6: most growth. Because with every other sport that I mentioned, basketball, football, 75 00:03:47,200 --> 00:03:51,160 Speaker 6: even lacrosse, you women can play that. There are there's 76 00:03:51,160 --> 00:03:54,400 Speaker 6: women's basketball, there's women's soccer. In football, there isn't something 77 00:03:54,520 --> 00:03:57,120 Speaker 6: like that that has been universally recognized. But flag football 78 00:03:57,160 --> 00:03:59,960 Speaker 6: offered that opportunity, and actually it's probably a better fit 79 00:04:00,560 --> 00:04:02,520 Speaker 6: with women, and I think it is with men, because 80 00:04:02,560 --> 00:04:04,600 Speaker 6: with men it's like, if you're playing flag football, then 81 00:04:04,600 --> 00:04:06,520 Speaker 6: why don't you play tackle? And that doesn't mean that 82 00:04:06,840 --> 00:04:09,680 Speaker 6: there can't be professional male flag football players, but I'm 83 00:04:09,680 --> 00:04:11,440 Speaker 6: just saying the question that the common people are going 84 00:04:11,520 --> 00:04:14,800 Speaker 6: to ask if they see men's football players versus one, Well. 85 00:04:14,640 --> 00:04:17,000 Speaker 2: That brings up the next question. I like the NBA, 86 00:04:17,160 --> 00:04:19,960 Speaker 2: you'll see the players who just had one heck of 87 00:04:20,000 --> 00:04:24,880 Speaker 2: a year basketball wise. In the Olympics US team, will 88 00:04:24,960 --> 00:04:28,680 Speaker 2: we see something like that where we have NFL players 89 00:04:29,160 --> 00:04:32,000 Speaker 2: heading to the flag football Olympic team. 90 00:04:32,120 --> 00:04:35,279 Speaker 6: There hasn't been any conversations, according to people that I 91 00:04:35,360 --> 00:04:37,600 Speaker 6: spoke with at the PA, and the NFL is very 92 00:04:37,640 --> 00:04:40,360 Speaker 6: excited about it, and all parties are very excited about 93 00:04:40,400 --> 00:04:42,840 Speaker 6: the opportunity for NFL players to play, But. 94 00:04:42,800 --> 00:04:44,560 Speaker 4: There hasn't been any conversations yet. 95 00:04:44,640 --> 00:04:47,719 Speaker 6: Do I think something will happen, of course, But what 96 00:04:47,920 --> 00:04:50,800 Speaker 6: happens I mean, I think that based on how NFL 97 00:04:50,960 --> 00:04:55,640 Speaker 6: owners were around, you know, the COVID negotiations with with 98 00:04:56,320 --> 00:04:59,360 Speaker 6: when seasons were almost canceled in some of these things. 99 00:05:00,480 --> 00:05:02,440 Speaker 6: If a player gets injured on an Olympic playing field, 100 00:05:02,480 --> 00:05:05,279 Speaker 6: that's not an NFL sanctioned event. So there's a world 101 00:05:05,360 --> 00:05:08,839 Speaker 6: where if this isn't negotiated right, if someone's contract could 102 00:05:08,880 --> 00:05:09,760 Speaker 6: be null and void. 103 00:05:09,800 --> 00:05:11,520 Speaker 4: Now do I think that happens. Absolutely not. 104 00:05:11,600 --> 00:05:14,200 Speaker 6: I think the PA and the NFL will strike a 105 00:05:14,240 --> 00:05:17,520 Speaker 6: deal where there will be exemptions and insurance will go 106 00:05:17,560 --> 00:05:20,159 Speaker 6: in and there will be injury guarantees and YadA, YadA YadA, 107 00:05:20,200 --> 00:05:22,000 Speaker 6: But as of right now. 108 00:05:22,120 --> 00:05:23,920 Speaker 4: No, do I think it'll happen by twenty twenty eight. 109 00:05:24,040 --> 00:05:26,520 Speaker 3: Yes, now, Michael, we have an educated audience and they 110 00:05:26,520 --> 00:05:28,760 Speaker 3: know Randall very well, and they know that Randall is 111 00:05:28,800 --> 00:05:32,200 Speaker 3: second to none when it comes to you know, new franchises, 112 00:05:32,320 --> 00:05:36,240 Speaker 3: the purchase of them, the creation of them, and the 113 00:05:36,360 --> 00:05:39,200 Speaker 3: cost for them. So talk to me, Randall, is this 114 00:05:39,240 --> 00:05:41,000 Speaker 3: going to be like pick a ball? I mean women's 115 00:05:41,000 --> 00:05:43,440 Speaker 3: flag football teams? You know they're going to be you 116 00:05:43,480 --> 00:05:46,880 Speaker 3: know Patrick Mahomes and you know, a Sauce Gardner and 117 00:05:46,920 --> 00:05:49,440 Speaker 3: these guys you know, Aaron Rodgers, you know buying up 118 00:05:49,480 --> 00:05:51,280 Speaker 3: these teams? Are the rights to these teams? I mean, 119 00:05:51,360 --> 00:05:53,039 Speaker 3: is that something you're you're hearing yet? 120 00:05:53,480 --> 00:05:55,640 Speaker 6: No, I haven't heard that. But I think it depends 121 00:05:55,680 --> 00:05:59,200 Speaker 6: on how it happens. Because if the NFL decides that 122 00:05:59,279 --> 00:06:03,039 Speaker 6: they want to start a women's flag football league, then 123 00:06:03,440 --> 00:06:05,400 Speaker 6: I imagine that some of the or most of the 124 00:06:05,480 --> 00:06:07,520 Speaker 6: ownership rules of the league has will carry on to 125 00:06:07,560 --> 00:06:08,960 Speaker 6: the Women's Flag Football League. 126 00:06:09,080 --> 00:06:13,480 Speaker 4: If it is an independent body of whoever. 127 00:06:13,080 --> 00:06:15,520 Speaker 6: A billionaire comes in and tries to start something or 128 00:06:15,560 --> 00:06:17,680 Speaker 6: attempts to start something, then I think that this could 129 00:06:17,760 --> 00:06:21,440 Speaker 6: be something where celebrities jump in very early and. 130 00:06:21,440 --> 00:06:23,440 Speaker 4: Try to make a dollar off it. And why because 131 00:06:23,480 --> 00:06:23,920 Speaker 4: it's cheap. 132 00:06:23,960 --> 00:06:27,279 Speaker 6: We're talking about a twenty five by fifty field and 133 00:06:27,360 --> 00:06:32,279 Speaker 6: all you need is a football, flags and cleats. That's it. 134 00:06:31,640 --> 00:06:34,120 Speaker 6: It's probably one of the cheapest sports out there. I mean, 135 00:06:34,120 --> 00:06:36,920 Speaker 6: that's one of the appeals of European of European football 136 00:06:36,960 --> 00:06:39,120 Speaker 6: and basketball, is that you need a ball and shoes. 137 00:06:40,480 --> 00:06:42,520 Speaker 6: So I think I think it has a ways to go, 138 00:06:42,600 --> 00:06:44,479 Speaker 6: but people are talking about it, and I expect it 139 00:06:44,520 --> 00:06:44,880 Speaker 6: to happen. 140 00:06:44,920 --> 00:06:45,280 Speaker 2: Sometimes. 141 00:06:45,600 --> 00:06:47,440 Speaker 3: Well, you see that Michael Barbera is hope for us. 142 00:06:47,440 --> 00:06:50,200 Speaker 3: We are going to have our own women's flag football team, 143 00:06:50,200 --> 00:06:52,200 Speaker 3: will include the Carlette and this maybe Randall's going to 144 00:06:52,240 --> 00:06:53,800 Speaker 3: help us set it up. I mean, this is it. 145 00:06:53,839 --> 00:06:56,279 Speaker 3: We've been waiting for this for years and we've been 146 00:06:56,279 --> 00:06:57,160 Speaker 3: talking about this for years. 147 00:06:57,279 --> 00:07:01,960 Speaker 2: I can be your entire goal line. 148 00:07:02,240 --> 00:07:05,719 Speaker 6: I've said this, I'll say this. There's some growth that 149 00:07:05,800 --> 00:07:08,200 Speaker 6: needs to happen at the grassroots level. There's twelve states 150 00:07:08,200 --> 00:07:10,720 Speaker 6: who have sanctioned this at the varsity level sport. It's 151 00:07:10,760 --> 00:07:14,280 Speaker 6: not why D one for Division I colleges yet, but 152 00:07:15,360 --> 00:07:18,120 Speaker 6: Charlie Baker wants it to happen, and I think everybody 153 00:07:18,160 --> 00:07:20,640 Speaker 6: wants to capitalize on this Olympics moments in twenty twenty 154 00:07:20,680 --> 00:07:23,320 Speaker 6: eight because of the fact that if you don't, when 155 00:07:23,400 --> 00:07:25,680 Speaker 6: is the next flag football moment going to happen? There's 156 00:07:25,680 --> 00:07:27,440 Speaker 6: no guarantee that it's going to be in the twenty 157 00:07:27,480 --> 00:07:28,880 Speaker 6: thirty two Brisban games. 158 00:07:29,040 --> 00:07:32,280 Speaker 4: So and it's domestically here, it's in la. If it 159 00:07:32,280 --> 00:07:35,280 Speaker 4: happened to me in SELFI stadium even better. But everyone 160 00:07:35,320 --> 00:07:37,680 Speaker 4: wants to capitalize on this so that it can. 161 00:07:38,960 --> 00:07:41,560 Speaker 6: Energize kids who are playing this that want to be 162 00:07:41,560 --> 00:07:44,160 Speaker 6: able to grow up in Oklahoma and then go to 163 00:07:44,200 --> 00:07:46,840 Speaker 6: Oklahoma University and have a women's flag football program. Now 164 00:07:46,840 --> 00:07:49,800 Speaker 6: they don't have that yet, but this is the moment 165 00:07:49,840 --> 00:07:53,320 Speaker 6: for the league to galvanize around all these things. 166 00:07:53,520 --> 00:07:55,200 Speaker 2: And I got to bring this up. We're talking about 167 00:07:55,200 --> 00:07:59,440 Speaker 2: the NFL Sunday ticket anti trust suit. Hey it was 168 00:08:00,120 --> 00:08:04,200 Speaker 2: it had been ruled for fourteen billion dollars and then 169 00:08:04,240 --> 00:08:08,520 Speaker 2: all of a sudden game over what happened. 170 00:08:08,840 --> 00:08:11,400 Speaker 4: Yeah, I mean it's a huge win for the league. 171 00:08:12,160 --> 00:08:15,760 Speaker 6: The judge obviously overturned the ruling, and so as it 172 00:08:15,800 --> 00:08:19,679 Speaker 6: stands right now, the league has won. Now there's I'd 173 00:08:19,680 --> 00:08:23,120 Speaker 6: say they've won one of the battles, but there's a 174 00:08:23,160 --> 00:08:25,320 Speaker 6: long road to go. And you know that, you know 175 00:08:25,320 --> 00:08:27,000 Speaker 6: how these things play out in court. They can take 176 00:08:27,000 --> 00:08:28,040 Speaker 6: a lot of twist and turns. 177 00:08:28,440 --> 00:08:30,000 Speaker 3: So take our audience through that. I mean, this is 178 00:08:30,000 --> 00:08:33,040 Speaker 3: about monopolization and unlawful agreements? Is that right, Randall? I mean, 179 00:08:33,040 --> 00:08:35,439 Speaker 3: I believe, going back to what twenty fifteen, I think 180 00:08:35,440 --> 00:08:38,679 Speaker 3: the NFL and Direct TV were sued by Sunday Ticket subscribers. 181 00:08:38,720 --> 00:08:41,440 Speaker 3: I believe for some sort of conspiracy. I mean, what 182 00:08:41,520 --> 00:08:43,599 Speaker 3: was I mean was it? I mean I thought a 183 00:08:43,720 --> 00:08:46,600 Speaker 3: judge had already awarded some damages there No, I mean 184 00:08:46,720 --> 00:08:49,240 Speaker 3: or or was nothing ever paid out of that? 185 00:08:49,720 --> 00:08:53,720 Speaker 6: Nothing has been paid out yet, there have been I'd 186 00:08:53,720 --> 00:08:57,439 Speaker 6: have to go back and familiarize myself with the process 187 00:08:57,440 --> 00:08:59,120 Speaker 6: a little more. I've been head deep on some of 188 00:08:59,120 --> 00:09:03,679 Speaker 6: his private equities. But the bottom line is the NFL. 189 00:09:04,400 --> 00:09:07,760 Speaker 6: There are cheaper ways to distribute NFL Sunday Ticket. The 190 00:09:07,920 --> 00:09:10,000 Speaker 6: NFL did not choose that, and it's because they control 191 00:09:10,080 --> 00:09:10,559 Speaker 6: the package. 192 00:09:11,559 --> 00:09:12,880 Speaker 4: If this was. 193 00:09:13,360 --> 00:09:15,400 Speaker 6: If it had gone the other way, then teams had 194 00:09:15,400 --> 00:09:19,040 Speaker 6: the opportunity to sell their own package, where if you 195 00:09:19,080 --> 00:09:21,000 Speaker 6: were a Green Bay Packers fan, maybe the Packers are 196 00:09:21,000 --> 00:09:22,679 Speaker 6: able to sell their games individually. 197 00:09:23,640 --> 00:09:24,920 Speaker 4: That's not going to happen. 198 00:09:24,960 --> 00:09:27,560 Speaker 6: With the latest ruling, Sunday Ticket will be what it 199 00:09:27,600 --> 00:09:30,560 Speaker 6: is on YouTube TV. But if it were, if it 200 00:09:30,559 --> 00:09:34,080 Speaker 6: were overturned a second time, I guess this is then 201 00:09:34,280 --> 00:09:35,160 Speaker 6: it's back in the team. 202 00:09:35,200 --> 00:09:37,079 Speaker 4: Can do I expect it to happen. I'm not sure 203 00:09:37,520 --> 00:09:38,080 Speaker 4: the best. 204 00:09:37,840 --> 00:09:40,280 Speaker 2: Way to describe that is that, Yeah, there are cheaper 205 00:09:40,320 --> 00:09:42,880 Speaker 2: ways to drive a car, but why would the Cadillac 206 00:09:43,000 --> 00:09:45,400 Speaker 2: dealers sell to you a Pinto when you can have 207 00:09:45,559 --> 00:09:49,880 Speaker 2: this Cadillac right here. So yeah, that's basically what it is. 208 00:09:49,920 --> 00:09:53,559 Speaker 2: And I guess the bottom line is Randall, the NFL 209 00:09:53,960 --> 00:09:56,800 Speaker 2: is king and they will always be king when it 210 00:09:56,840 --> 00:10:00,880 Speaker 2: comes to the sports for major food groups exactly. 211 00:10:00,960 --> 00:10:03,360 Speaker 6: I mean, if you look at Sporter Coast valuations, I 212 00:10:03,360 --> 00:10:05,760 Speaker 6: believe it's twenty billion in revenue at the NFL hit 213 00:10:05,880 --> 00:10:08,720 Speaker 6: the twenty point nine around there, and the other two 214 00:10:08,760 --> 00:10:12,080 Speaker 6: leagues based on their latest valuations, where MLB and the 215 00:10:12,160 --> 00:10:16,160 Speaker 6: NBA were around ten, ten point eight, ten point nine, 216 00:10:16,160 --> 00:10:18,720 Speaker 6: maybe it was eleven around that range. But if you 217 00:10:18,760 --> 00:10:22,400 Speaker 6: think about that, they're close to doubling the two biggest 218 00:10:22,480 --> 00:10:24,320 Speaker 6: leagues next to them revenue. 219 00:10:24,720 --> 00:10:25,520 Speaker 4: That's nuts. 220 00:10:25,960 --> 00:10:28,960 Speaker 2: Well, and you bring it up, is that speaking of 221 00:10:29,280 --> 00:10:34,040 Speaker 2: valuation of teams, the Dallas Cowboys still the most valuable 222 00:10:34,080 --> 00:10:36,120 Speaker 2: team in the NFL run they are. 223 00:10:36,280 --> 00:10:38,760 Speaker 6: I mean, Jerry was the first to start this whole 224 00:10:39,080 --> 00:10:41,680 Speaker 6: real estate thing around the stadium, and he's reaping the 225 00:10:41,679 --> 00:10:44,319 Speaker 6: benefits of it. Everyone's trying. We see all these stadium 226 00:10:44,320 --> 00:10:47,520 Speaker 6: deals happening. It's because everyone wants to activate around the stadium. 227 00:10:47,559 --> 00:10:49,960 Speaker 6: It isn't just about a stadium. If you think about 228 00:10:49,960 --> 00:10:53,440 Speaker 6: a NFL stadium versus an NBA arena or an MLB stadium, 229 00:10:53,600 --> 00:10:56,720 Speaker 6: those arenas and stadium from the MLB and NBA are 230 00:10:56,840 --> 00:10:59,120 Speaker 6: in use much more than an NFL arena. But if 231 00:10:59,120 --> 00:11:03,720 Speaker 6: you have real estate, a practice field, an auditorium, or 232 00:11:03,720 --> 00:11:05,960 Speaker 6: something to that extent, then you can use those in 233 00:11:05,960 --> 00:11:07,720 Speaker 6: an off season. You can have artists come in, you 234 00:11:07,760 --> 00:11:11,199 Speaker 6: can have different festivals and tournaments and things like that. 235 00:11:11,240 --> 00:11:13,080 Speaker 6: But if you don't own any of that, then you 236 00:11:13,080 --> 00:11:15,320 Speaker 6: don't see the benefits of it. So when you're looking 237 00:11:15,360 --> 00:11:17,560 Speaker 6: at the Cleveland Browns or the Chicago Bears or whoever 238 00:11:17,600 --> 00:11:19,960 Speaker 6: else wants to state him because everyone wants one nowadays, 239 00:11:20,720 --> 00:11:21,320 Speaker 6: all of them. 240 00:11:21,160 --> 00:11:23,400 Speaker 4: Want the real estate around it. It's just a lot 241 00:11:23,480 --> 00:11:23,840 Speaker 4: of money. 242 00:11:23,840 --> 00:11:27,120 Speaker 6: We're talking about public private partnerships, and it all depends 243 00:11:27,160 --> 00:11:29,160 Speaker 6: on the city. If the city wants it to happen, 244 00:11:29,640 --> 00:11:31,360 Speaker 6: the city and the culture of the city. I'd say 245 00:11:31,440 --> 00:11:35,640 Speaker 6: in Jacksonville. This happened Florida. In Florida, football is like 246 00:11:35,640 --> 00:11:38,679 Speaker 6: a religion in Kansas City, and in Chicago it's a tougher. 247 00:11:38,679 --> 00:11:41,920 Speaker 3: So well, Michael Barr, I know one person who is 248 00:11:41,920 --> 00:11:43,800 Speaker 3: well aware of the amount of money Jerry Jones is 249 00:11:43,800 --> 00:11:46,640 Speaker 3: made on his stadium and the outskirts of it, and 250 00:11:46,640 --> 00:11:49,040 Speaker 3: that is CD Lamb, who is holding out of camp. 251 00:11:49,080 --> 00:11:51,160 Speaker 3: I mean, what is going on with the man CD? 252 00:11:51,280 --> 00:11:52,760 Speaker 3: And what's going to take to get him back? 253 00:11:53,160 --> 00:11:56,440 Speaker 2: Man? It's like, you know, come on, CD, come on back. 254 00:11:56,520 --> 00:11:57,600 Speaker 2: We'll hook you up. 255 00:11:57,600 --> 00:11:57,800 Speaker 5: Man. 256 00:11:58,000 --> 00:11:59,040 Speaker 3: Here's Batman. 257 00:12:00,240 --> 00:12:00,640 Speaker 2: Champaign. 258 00:12:01,360 --> 00:12:05,079 Speaker 6: I mean, that's a pricing thing. Justin Jefferson deserves to 259 00:12:05,120 --> 00:12:08,200 Speaker 6: be paid the highest receiver in the NFL, and I 260 00:12:08,200 --> 00:12:10,520 Speaker 6: think CD had an incredible year last year. But there's 261 00:12:10,559 --> 00:12:14,199 Speaker 6: no metric that you can you can say that Cede 262 00:12:14,280 --> 00:12:17,160 Speaker 6: Land deserves to be paid unless it's just like I'm 263 00:12:17,200 --> 00:12:19,640 Speaker 6: young and I want to reset the market. But I 264 00:12:19,760 --> 00:12:22,840 Speaker 6: expect him to get thirty four right under Justin Jefferson's 265 00:12:22,880 --> 00:12:25,000 Speaker 6: thirty five, And maybe it's thirty four and a half. 266 00:12:25,040 --> 00:12:26,839 Speaker 6: But if you got thirty five point one, I think 267 00:12:26,840 --> 00:12:28,200 Speaker 6: that would be a chacker to us all. 268 00:12:28,400 --> 00:12:30,640 Speaker 2: Come on, guys, we could start a flag football team. 269 00:12:31,000 --> 00:12:33,480 Speaker 2: We'll call us the Bloomberg bros Man and we'll go 270 00:12:33,559 --> 00:12:38,439 Speaker 2: out there and play our hearts out. Man. Sure you 271 00:12:38,960 --> 00:12:42,160 Speaker 2: Bloomberg you as sports business reporter Randon Williams, you are 272 00:12:42,200 --> 00:12:43,920 Speaker 2: the man. Thank you, sir for joining us. 273 00:12:44,120 --> 00:12:45,400 Speaker 4: Thank you for the time. As always. 274 00:12:46,040 --> 00:12:49,439 Speaker 2: Up next, we talk more football and how smaller schools 275 00:12:49,480 --> 00:12:52,760 Speaker 2: could try to mimic a deal of Florida University made 276 00:12:52,840 --> 00:12:55,680 Speaker 2: with pop star Pitbull. That is straight ahead on the 277 00:12:55,679 --> 00:13:03,079 Speaker 2: Bloomberg Business of Sports or Bloomberg Radio Around world. Your 278 00:13:03,160 --> 00:13:08,560 Speaker 2: listening to Bloomberg Business of Sports from Bloomberg Radio. This 279 00:13:08,760 --> 00:13:11,240 Speaker 2: is the Bloomberg Business of Sports show where we explore 280 00:13:11,280 --> 00:13:14,000 Speaker 2: the big money issues in the world of sports. Michael Barr, 281 00:13:14,200 --> 00:13:17,800 Speaker 2: along with Damian Sasaur Scarlett Fu is on assignment. This week. 282 00:13:18,040 --> 00:13:23,319 Speaker 3: Florida International University is renaming its football stadium. Renaming a 283 00:13:23,360 --> 00:13:27,479 Speaker 3: football stadium after a pop star. It'll be called Pitbull Stadium, 284 00:13:27,559 --> 00:13:30,920 Speaker 3: after the mister three oh five himself. Michael Barr all right. 285 00:13:30,800 --> 00:13:33,480 Speaker 2: Wait, wait, wait, I'm old three oh five. What does 286 00:13:33,520 --> 00:13:33,800 Speaker 2: that mean? 287 00:13:33,880 --> 00:13:35,920 Speaker 3: That is the area code from Miami Data believe. 288 00:13:36,080 --> 00:13:39,720 Speaker 2: Oh all right, fine, anyway, in exchange. I thought it 289 00:13:39,760 --> 00:13:43,280 Speaker 2: was something even hipper. Pittbull will pay around six million 290 00:13:43,320 --> 00:13:46,880 Speaker 2: dollars over five years and write a new school anthem 291 00:13:47,000 --> 00:13:50,960 Speaker 2: for FIU. It's how the school is looking to drum 292 00:13:51,040 --> 00:13:54,200 Speaker 2: up some excitement for a team that won only four 293 00:13:54,280 --> 00:13:59,160 Speaker 2: games last season. Bloomberg opinion columnist Adam Mintor wrote a 294 00:13:59,160 --> 00:14:01,760 Speaker 2: piece on the deal, and he's here now to take 295 00:14:01,840 --> 00:14:05,280 Speaker 2: us through it. Adam, Welcome to the Bloomberg Business of Sports. 296 00:14:05,320 --> 00:14:12,240 Speaker 2: Pitbull signs a deal with FIU, and now the smaller 297 00:14:12,280 --> 00:14:16,240 Speaker 2: schools are like, hey man, what is this, Adam? What 298 00:14:16,679 --> 00:14:17,600 Speaker 2: is going on here? 299 00:14:17,800 --> 00:14:22,600 Speaker 7: Well, the simple version is that Pitbull is giving FIU 300 00:14:23,000 --> 00:14:25,480 Speaker 7: six million dollars over five years to put his name 301 00:14:25,520 --> 00:14:28,240 Speaker 7: on the stadium, the football stadium, the twenty three thousand 302 00:14:28,640 --> 00:14:33,240 Speaker 7: seat football stadium. In return, he's going to get access 303 00:14:33,240 --> 00:14:36,840 Speaker 7: to the stadium ten days a year. He's going to 304 00:14:36,880 --> 00:14:40,840 Speaker 7: be able to film on campus at games. He has 305 00:14:40,840 --> 00:14:42,760 Speaker 7: a charity, so he's gonna be able to bring kids 306 00:14:42,760 --> 00:14:45,320 Speaker 7: from his K through twelve program to games and get 307 00:14:45,320 --> 00:14:49,320 Speaker 7: them internships. So that's the superficial level of it. But 308 00:14:49,400 --> 00:14:52,720 Speaker 7: for FIU, it's something much bigger because FIU is a 309 00:14:52,800 --> 00:14:55,600 Speaker 7: mid major school. So those are the schools just below 310 00:14:56,240 --> 00:14:58,000 Speaker 7: the well, I guess we call it the power four. 311 00:14:58,040 --> 00:15:01,200 Speaker 1: Now it's no longer the Power five. The big schools that. 312 00:15:01,120 --> 00:15:03,960 Speaker 7: We all think of, the you know, the Michigan's, the Ohio's, 313 00:15:04,080 --> 00:15:06,720 Speaker 7: the Alabama's, it's a tier below. They tend to be 314 00:15:06,800 --> 00:15:10,640 Speaker 7: good basketball schools, but as college athletics changes, they're getting 315 00:15:10,640 --> 00:15:15,200 Speaker 7: squeezed financially, and they're getting squeezed also just in terms 316 00:15:15,240 --> 00:15:19,600 Speaker 7: of attention. So pitball, in theory, gives them the chance 317 00:15:20,000 --> 00:15:23,880 Speaker 7: not to necessarily make money off pitball directly six million dollars, 318 00:15:23,880 --> 00:15:26,280 Speaker 7: but he brings attention to the campus, maybe gives them 319 00:15:26,280 --> 00:15:29,800 Speaker 7: an opportunity to earn some money via merchandise, greater attention, 320 00:15:29,920 --> 00:15:33,840 Speaker 7: bring in some recruits, and make the school cool. You know, 321 00:15:34,240 --> 00:15:36,320 Speaker 7: it's it's the best they can do because these schools 322 00:15:36,480 --> 00:15:39,680 Speaker 7: facing nil and now the house settlement, which is you know, 323 00:15:39,680 --> 00:15:41,680 Speaker 7: in a cost millions of dollars in money to pay 324 00:15:41,720 --> 00:15:43,200 Speaker 7: pass Division one athletes. 325 00:15:43,800 --> 00:15:45,520 Speaker 1: The financial squeeze is really tough. 326 00:15:45,760 --> 00:15:47,640 Speaker 3: So Adam, take us through the deal. Exactly how much 327 00:15:47,720 --> 00:15:49,720 Speaker 3: is pitbull playing for the privilege. 328 00:15:49,440 --> 00:15:52,840 Speaker 7: One point two million dollars per year for five years? 329 00:15:52,840 --> 00:15:55,120 Speaker 3: Interesting? Interesting? So there you go, Michael Barr, that's how 330 00:15:55,160 --> 00:15:56,320 Speaker 3: much it's going to cost for you and I to 331 00:15:56,320 --> 00:15:58,560 Speaker 3: put our name on Miami Dade College down in Florida. 332 00:15:58,640 --> 00:16:00,800 Speaker 3: I mean, it's not that much money. You know, we 333 00:16:00,840 --> 00:16:02,880 Speaker 3: can we can pull our resources. 334 00:16:02,560 --> 00:16:07,240 Speaker 2: The check that I have in my bank account for FIU. 335 00:16:07,800 --> 00:16:11,040 Speaker 2: One of those letters could be eliminated. Man if if 336 00:16:11,080 --> 00:16:11,720 Speaker 2: they came to. 337 00:16:11,800 --> 00:16:14,600 Speaker 3: Me as Adam, here's my question then, I mean, is 338 00:16:14,640 --> 00:16:16,640 Speaker 3: this something we can expect to see more of, specifically 339 00:16:16,720 --> 00:16:19,080 Speaker 3: for some of the smaller schools out there, and specifically 340 00:16:19,080 --> 00:16:21,400 Speaker 3: as nil really you know, comes on the scene, right, 341 00:16:21,440 --> 00:16:23,600 Speaker 3: I mean those schools that are first movers here. I 342 00:16:23,600 --> 00:16:25,760 Speaker 3: mean I could see j Lo, I could see you 343 00:16:25,800 --> 00:16:29,080 Speaker 3: know a lot of you know, rock stars, Hollywood, you know, celebrities, 344 00:16:29,120 --> 00:16:32,240 Speaker 3: et cetera. You know, lending you know, their own image, 345 00:16:32,280 --> 00:16:35,520 Speaker 3: their own name to kind of help their alma monters 346 00:16:35,600 --> 00:16:37,880 Speaker 3: or any university for that matter, get some athletes and 347 00:16:38,040 --> 00:16:40,840 Speaker 3: and really kind of expand their Brandon footprint. 348 00:16:41,120 --> 00:16:41,520 Speaker 1: Why not? 349 00:16:41,880 --> 00:16:44,960 Speaker 7: I mean, you know, there's there's only one Pitbull, and 350 00:16:45,000 --> 00:16:47,560 Speaker 7: what's unique about this deal is just the footprint he 351 00:16:47,640 --> 00:16:50,320 Speaker 7: has in Miami. I mean he's mister three oh five, 352 00:16:50,440 --> 00:16:52,840 Speaker 7: you know, it's the area code down there. He's an 353 00:16:53,080 --> 00:16:56,720 Speaker 7: icon in that town. So him associating with FIU immediately 354 00:16:56,800 --> 00:16:59,840 Speaker 7: raises FIU's profile. I don't think it necessarily does anything 355 00:16:59,840 --> 00:17:02,320 Speaker 7: for Pitbull's profile. You can't get much bigger in Miami 356 00:17:02,360 --> 00:17:05,160 Speaker 7: than this guy, so there's it's unique in that sense. 357 00:17:05,400 --> 00:17:08,120 Speaker 7: But yes, I mean why not if you're a mid 358 00:17:08,160 --> 00:17:10,840 Speaker 7: major school belonging to Conference USA or any of these 359 00:17:10,880 --> 00:17:14,280 Speaker 7: other mid major conferences, why wouldn't you seek out an athlete, 360 00:17:14,359 --> 00:17:18,480 Speaker 7: especially with you know, the sports celebrity access so strong, Now, 361 00:17:18,480 --> 00:17:21,320 Speaker 7: why wouldn't you seek out popular alumni? You know, one 362 00:17:21,320 --> 00:17:23,840 Speaker 7: point two million dollars, as you guys just indicated. I mean, 363 00:17:24,080 --> 00:17:26,399 Speaker 7: you know, it might be you know a lot for us, 364 00:17:26,440 --> 00:17:28,800 Speaker 7: but for a guy like Pitbull, it's really not that 365 00:17:28,960 --> 00:17:31,160 Speaker 7: much money. And it just sort of gets at what's 366 00:17:31,160 --> 00:17:33,560 Speaker 7: important here is that he's bringing a brand to the 367 00:17:33,600 --> 00:17:38,439 Speaker 7: school and hopefully, by that way indirectly attracting other forms 368 00:17:38,440 --> 00:17:40,080 Speaker 7: of revenue and attention, maybe TV. 369 00:17:40,560 --> 00:17:41,920 Speaker 1: And that's and that's the payoff. 370 00:17:42,000 --> 00:17:44,600 Speaker 7: So I'm sure you have schools across the mid majors 371 00:17:44,760 --> 00:17:47,000 Speaker 7: looking at their alumni listen, and who's a celebrity hero 372 00:17:47,040 --> 00:17:49,240 Speaker 7: would like to put their name on our basketball arena 373 00:17:49,320 --> 00:17:50,880 Speaker 7: and somebody making a phone call. 374 00:17:51,760 --> 00:17:56,479 Speaker 2: If this is a success, athletic departments across America are 375 00:17:56,520 --> 00:17:59,000 Speaker 2: going to be like, hey, maybe we need to also, 376 00:17:59,520 --> 00:18:01,879 Speaker 2: you know, call ice Cube. Man is like, maybe this 377 00:18:01,920 --> 00:18:03,960 Speaker 2: will work, man, I mean, this is this is a 378 00:18:04,000 --> 00:18:04,520 Speaker 2: big deal. 379 00:18:04,880 --> 00:18:05,760 Speaker 1: It's a really big deal. 380 00:18:05,760 --> 00:18:07,159 Speaker 7: And and you know, and again, you know, it'll be 381 00:18:07,200 --> 00:18:09,760 Speaker 7: interesting to see how it plays out. I personally think 382 00:18:09,800 --> 00:18:11,840 Speaker 7: it's gonna work. I mean, I've spent time in Miami, 383 00:18:12,160 --> 00:18:14,720 Speaker 7: and Pitbull is as big as you can get in Miami, 384 00:18:15,000 --> 00:18:17,240 Speaker 7: you know, I you know, I off the top of 385 00:18:17,280 --> 00:18:17,680 Speaker 7: my head. 386 00:18:17,720 --> 00:18:19,560 Speaker 1: You know, maybe in LA you can fit you know, 387 00:18:19,720 --> 00:18:22,399 Speaker 1: the Red Hot Chili Peppers Stadium or something like that. 388 00:18:22,520 --> 00:18:25,480 Speaker 1: You know, you know, iced T Stadium, something like that. 389 00:18:25,520 --> 00:18:28,600 Speaker 7: I mean, where you you have that that local celebrity 390 00:18:28,600 --> 00:18:32,320 Speaker 7: who really is interested in sports and can sync with uh, 391 00:18:32,640 --> 00:18:34,720 Speaker 7: you know, with a smaller school, that would work. 392 00:18:34,760 --> 00:18:35,520 Speaker 1: But why not? 393 00:18:35,760 --> 00:18:38,880 Speaker 7: And I think what's what's really interesting about this is 394 00:18:39,000 --> 00:18:41,719 Speaker 7: just how FIU is getting creative. I mean, you know, 395 00:18:41,960 --> 00:18:44,359 Speaker 7: the old ways of doing business, and let's face it, 396 00:18:44,359 --> 00:18:47,240 Speaker 7: it was business in college. Sports aren't gonna work anymore. 397 00:18:47,240 --> 00:18:50,080 Speaker 7: So you've got to be innovative and creative. You know, 398 00:18:50,119 --> 00:18:52,760 Speaker 7: you had, you know, a few months ago, Conference USA 399 00:18:52,920 --> 00:18:56,199 Speaker 7: and and the various group of five schools, you know, 400 00:18:56,480 --> 00:18:59,359 Speaker 7: talking about, hey, can we sell the branding rights to 401 00:18:59,400 --> 00:18:59,960 Speaker 7: the conference? 402 00:19:00,080 --> 00:19:03,520 Speaker 1: You know, you know, could it be? And this is 403 00:19:03,600 --> 00:19:05,400 Speaker 1: just me. This didn't so far as I know, gets 404 00:19:05,440 --> 00:19:06,000 Speaker 1: thrown out there. 405 00:19:06,000 --> 00:19:09,199 Speaker 7: But you know, Pitbull Conference USA. I mean, you know, 406 00:19:09,240 --> 00:19:13,360 Speaker 7: people were thinking in creative waves, so so why not this? 407 00:19:13,359 --> 00:19:15,600 Speaker 7: This seems to make a lot more sense, especially because 408 00:19:15,760 --> 00:19:18,480 Speaker 7: you know, stadium naming rights have been sold for years. 409 00:19:18,720 --> 00:19:21,000 Speaker 3: Yeah, but Adam, this isn't just a naming rights deer 410 00:19:21,000 --> 00:19:22,920 Speaker 3: in the deal, now, is it. I mean, pit Bull's 411 00:19:22,920 --> 00:19:24,520 Speaker 3: getting a little bit more. He's getting the rights to 412 00:19:24,600 --> 00:19:26,360 Speaker 3: use the stadium I think for a few days each 413 00:19:26,440 --> 00:19:29,080 Speaker 3: year for events. I even think he gets the right 414 00:19:29,200 --> 00:19:32,040 Speaker 3: to name who performs at halftime during the games or 415 00:19:32,040 --> 00:19:34,000 Speaker 3: in postgame. Talk to us a little bit about you 416 00:19:34,040 --> 00:19:35,480 Speaker 3: know what else is in it for Pitbull? 417 00:19:35,800 --> 00:19:38,280 Speaker 7: Yeah, I mean I thought that what you just mentioned 418 00:19:38,280 --> 00:19:40,719 Speaker 7: was really interesting. The halftime act. I mean, he is 419 00:19:40,920 --> 00:19:43,920 Speaker 7: an entrepreneur, he has uh you know, he has his 420 00:19:43,960 --> 00:19:47,400 Speaker 7: own acts, and and he is I believe he's being 421 00:19:47,640 --> 00:19:51,560 Speaker 7: under the terms of the deal. He's the official entrepreneur 422 00:19:51,600 --> 00:19:54,560 Speaker 7: of FIU Athletics, but as an entrepreneur, the right to 423 00:19:54,600 --> 00:19:58,119 Speaker 7: put his you know, his new act on the field 424 00:19:58,119 --> 00:20:01,240 Speaker 7: at halftime, that's a tremendous benefit. What would that cost 425 00:20:01,320 --> 00:20:04,800 Speaker 7: him otherwise? That's that's a that's a really nice benefit 426 00:20:05,359 --> 00:20:09,520 Speaker 7: for Pitbull. His vodka, which I didn't know about, called 427 00:20:09,760 --> 00:20:10,880 Speaker 7: BOLLI three oh five. 428 00:20:10,960 --> 00:20:12,520 Speaker 1: It's not vodka. 429 00:20:12,960 --> 00:20:19,280 Speaker 2: Vodka he's got. Sorry I sounded too excited there, but wow, yeah, only. 430 00:20:19,080 --> 00:20:19,840 Speaker 1: Three oh five. 431 00:20:20,640 --> 00:20:22,400 Speaker 7: You know, get the area code in there again. It's 432 00:20:22,440 --> 00:20:26,160 Speaker 7: now it's now the preferred vodka Pitbull Stadium. I mean 433 00:20:26,160 --> 00:20:29,359 Speaker 7: how many how many college football stadiums have a preferred 434 00:20:29,400 --> 00:20:30,200 Speaker 7: vodka anyway? 435 00:20:30,240 --> 00:20:31,800 Speaker 1: I mean again there there you go. 436 00:20:31,960 --> 00:20:34,399 Speaker 7: Is like the school f i U is is trying 437 00:20:34,440 --> 00:20:36,200 Speaker 7: to push the boundaries a little bit. 438 00:20:36,240 --> 00:20:38,800 Speaker 1: So it's it's it's exciting. 439 00:20:39,000 --> 00:20:40,720 Speaker 3: You know, Adam. I have another question for you. I mean, 440 00:20:40,760 --> 00:20:44,320 Speaker 3: you think about this, right, athlete, celebrities and other wealthy individuals. 441 00:20:44,320 --> 00:20:47,320 Speaker 3: I mean, what what this deal sets precedent for is 442 00:20:47,359 --> 00:20:49,840 Speaker 3: for them to really not just drive you know, put 443 00:20:49,880 --> 00:20:52,960 Speaker 3: their name on the stadium, but to drive stadium revenues. Right, 444 00:20:53,080 --> 00:20:56,119 Speaker 3: and more importantly, it implies that maybe not in the 445 00:20:56,119 --> 00:20:59,399 Speaker 3: case of pit Bull, but going you know, in the future, 446 00:20:59,440 --> 00:21:02,440 Speaker 3: perhaps you know, some wealthy individuals who lend their name 447 00:21:02,920 --> 00:21:05,199 Speaker 3: will have you know, the ability to drive you know, 448 00:21:05,680 --> 00:21:08,240 Speaker 3: the team itself. You know, like you know what where 449 00:21:08,240 --> 00:21:09,720 Speaker 3: the money goes? You know, is it going to go 450 00:21:09,840 --> 00:21:13,199 Speaker 3: to basketball or football, or lacrosse or swimming? You know 451 00:21:13,200 --> 00:21:15,440 Speaker 3: what I'm saying. So it just is very interesting. But 452 00:21:15,520 --> 00:21:18,119 Speaker 3: this opens the door for It opens the door quite frankly, 453 00:21:18,520 --> 00:21:20,080 Speaker 3: you know, for the wealthy, for those who have money 454 00:21:20,080 --> 00:21:22,680 Speaker 3: and are willing to lend their name to really drive 455 00:21:22,800 --> 00:21:25,600 Speaker 3: forward the way some of these you know universities in 456 00:21:25,640 --> 00:21:26,960 Speaker 3: their athletic departments are run. 457 00:21:27,280 --> 00:21:30,200 Speaker 1: Yeah, well exactly. And I mean we've all been hearing 458 00:21:30,240 --> 00:21:31,200 Speaker 1: for you know, more than a. 459 00:21:31,200 --> 00:21:35,439 Speaker 7: Year now that private equity is circling college sports, and 460 00:21:35,560 --> 00:21:37,800 Speaker 7: you know, this is this is I mean, you know, 461 00:21:38,000 --> 00:21:40,280 Speaker 7: this is a different kind of deal. But on the 462 00:21:40,320 --> 00:21:42,760 Speaker 7: other hand, is it really I mean, we we just 463 00:21:42,840 --> 00:21:47,919 Speaker 7: saw Howard University, the basketball coach, come out and say, 464 00:21:48,080 --> 00:21:52,280 Speaker 7: you know, one third of the basketball program is for 465 00:21:52,320 --> 00:21:54,720 Speaker 7: sale for one hundred million dollars. And you know, I 466 00:21:54,760 --> 00:21:57,280 Speaker 7: think if you know, and he said, maybe it's private equity. 467 00:21:57,320 --> 00:22:00,680 Speaker 7: Maybe it's an individual. But presumably if you're a fund 468 00:22:00,760 --> 00:22:03,760 Speaker 7: or a wealthy individual putting one hundred million dollars into 469 00:22:04,240 --> 00:22:07,159 Speaker 7: Howard with the idea that will upgrade the stadium, provide 470 00:22:07,200 --> 00:22:09,480 Speaker 7: some nil and maybe you know, some other cash just 471 00:22:09,560 --> 00:22:12,840 Speaker 7: to make things go better as the college expands it, 472 00:22:13,000 --> 00:22:15,320 Speaker 7: you're going to have some say and so you know, 473 00:22:15,720 --> 00:22:18,200 Speaker 7: so far as I know, and so far as anybody knows, 474 00:22:18,359 --> 00:22:21,399 Speaker 7: Pitball isn't asking, you know, for the right to choose 475 00:22:21,440 --> 00:22:24,439 Speaker 7: the coach yet. But you know, it's not hard to 476 00:22:24,520 --> 00:22:28,159 Speaker 7: imagine that, you know, somebody who is getting, say, as 477 00:22:28,200 --> 00:22:32,159 Speaker 7: pitbull is two suites for games starts to you and 478 00:22:32,960 --> 00:22:34,960 Speaker 7: there's it's been implied that he's going to at least 479 00:22:35,040 --> 00:22:37,320 Speaker 7: help out by making appearances. And I assume that will 480 00:22:37,320 --> 00:22:39,960 Speaker 7: help recruit students and maybe even help with n IL. 481 00:22:40,040 --> 00:22:44,160 Speaker 7: I mean, why wouldn't he want if he wants greater 482 00:22:44,240 --> 00:22:46,320 Speaker 7: say in the team. I think it's it's all a 483 00:22:46,480 --> 00:22:49,720 Speaker 7: very hazy line now between with all this new money 484 00:22:49,760 --> 00:22:51,280 Speaker 7: coming into college athletics. 485 00:22:51,359 --> 00:22:54,080 Speaker 3: Now, I believe if you is a public research university, right, 486 00:22:54,119 --> 00:22:56,040 Speaker 3: they're not a private school, are they right? 487 00:22:56,080 --> 00:22:56,600 Speaker 1: That's correct? 488 00:22:56,760 --> 00:22:59,840 Speaker 3: So hear me out. I mean, is there any way 489 00:23:00,200 --> 00:23:02,919 Speaker 3: just throwing it out there right that you know, you know, 490 00:23:03,040 --> 00:23:06,240 Speaker 3: people whose tax dollars in Florida, which they aren't a 491 00:23:06,240 --> 00:23:09,320 Speaker 3: lot of them obviously, you know, go to basically funding 492 00:23:09,440 --> 00:23:12,520 Speaker 3: FIU and that, you know, and they're not happy that 493 00:23:12,320 --> 00:23:14,760 Speaker 3: with Pitbull. You know, they disagree with who pit Bull is, 494 00:23:14,800 --> 00:23:17,159 Speaker 3: maybe what he stands for, you know, et cetera. You know, 495 00:23:17,400 --> 00:23:19,840 Speaker 3: is there any way for you know, you know, I 496 00:23:19,840 --> 00:23:23,240 Speaker 3: guess taxpayers or or you know, you know, residents of 497 00:23:23,240 --> 00:23:25,280 Speaker 3: Florida kind of fight back on this. I mean, is 498 00:23:25,280 --> 00:23:27,880 Speaker 3: that something that obviously won't happen, but something that potentially 499 00:23:27,920 --> 00:23:28,879 Speaker 3: could happen in the future. 500 00:23:29,240 --> 00:23:31,400 Speaker 7: I mean, I think that's a really interesting question. I'm 501 00:23:31,400 --> 00:23:34,920 Speaker 7: guessing that f IU was was very carefully vetted pit Bull, 502 00:23:35,080 --> 00:23:37,520 Speaker 7: you know, before of course they got into this and 503 00:23:37,520 --> 00:23:40,639 Speaker 7: and he's you know, he's he's somebody with a with 504 00:23:40,680 --> 00:23:42,840 Speaker 7: a really good reputation. You know, he does a lot 505 00:23:42,880 --> 00:23:44,400 Speaker 7: of philanthropy in the community. 506 00:23:45,280 --> 00:23:47,600 Speaker 1: You know. The only the only thing anybody can know. 507 00:23:47,680 --> 00:23:49,720 Speaker 7: The only complaints I've seen is some people don't like 508 00:23:49,760 --> 00:23:52,159 Speaker 7: his videos are a little too sexy for some taste. 509 00:23:52,200 --> 00:23:54,560 Speaker 1: But you know, that's that's the music business. 510 00:23:54,760 --> 00:23:58,399 Speaker 3: But but I but he attended Miami Coral Park High School. 511 00:23:58,400 --> 00:24:00,720 Speaker 3: He's done so much for the community. I mean, he's 512 00:24:00,760 --> 00:24:02,960 Speaker 3: a Cuban national hero, you know. I mean, he's an 513 00:24:02,960 --> 00:24:05,399 Speaker 3: amazing person. So there's no question about it, not to 514 00:24:05,400 --> 00:24:08,240 Speaker 3: mention an incredibly talented right, But it's just you know 515 00:24:08,240 --> 00:24:09,879 Speaker 3: what what I guess, you know, I guess you know, 516 00:24:09,960 --> 00:24:12,040 Speaker 3: my concern is, you know, maybe not in the case 517 00:24:12,080 --> 00:24:13,760 Speaker 3: of Pitbull, but you know, as more and more people 518 00:24:13,800 --> 00:24:16,760 Speaker 3: start lending their names to stadiums and whatnot, you know, 519 00:24:16,760 --> 00:24:19,480 Speaker 3: it just kind of opens the door for this kind 520 00:24:19,480 --> 00:24:21,040 Speaker 3: of Michigas on a forward basis. 521 00:24:21,080 --> 00:24:22,560 Speaker 5: Adam No, for sure, for. 522 00:24:22,560 --> 00:24:24,800 Speaker 7: Sure, And I think, you know, I think that's a 523 00:24:24,800 --> 00:24:27,840 Speaker 7: real risk, especially with the you know, the greater discourse 524 00:24:27,880 --> 00:24:31,400 Speaker 7: around higher education and college and universities these days. I mean, 525 00:24:31,720 --> 00:24:35,240 Speaker 7: the for lack of a better term, the wrong celebrity 526 00:24:35,960 --> 00:24:40,240 Speaker 7: could certainly generate some political heat. And you know, I 527 00:24:40,280 --> 00:24:44,320 Speaker 7: think most public research universities find their funding through state 528 00:24:44,400 --> 00:24:47,719 Speaker 7: legislatures and and some you know, national funding organizations, but 529 00:24:47,760 --> 00:24:50,960 Speaker 7: you know, state legislatures. You know, if the wrong celebrity 530 00:24:51,400 --> 00:24:56,320 Speaker 7: ends up a top you know, a football stadium's name, 531 00:24:57,000 --> 00:25:00,280 Speaker 7: you know, you could see legislature, legislators perhaps threat to 532 00:25:00,320 --> 00:25:01,520 Speaker 7: withhold funds. 533 00:25:01,520 --> 00:25:01,760 Speaker 1: You know. 534 00:25:01,920 --> 00:25:04,200 Speaker 7: As for alumni, I think that probably cuts both ways. 535 00:25:04,240 --> 00:25:06,640 Speaker 7: I mean, sure, there's going to be maybe alumni who 536 00:25:06,640 --> 00:25:08,520 Speaker 7: don't like Pitbull, but there's bound to be a lot 537 00:25:08,560 --> 00:25:11,399 Speaker 7: of alumni who are really big pitbull fans and maybe 538 00:25:11,640 --> 00:25:14,080 Speaker 7: double down on their donation with the hope of getting 539 00:25:14,160 --> 00:25:17,320 Speaker 7: access to that Pitbull fundraiser. So kind of the annual 540 00:25:17,359 --> 00:25:19,960 Speaker 7: Pitbull fundraiser, you know, So it kind of cuts both ways. 541 00:25:20,160 --> 00:25:25,400 Speaker 2: We love you, Adam Mentor Adam mintor Bloomberg Opinion. Read 542 00:25:25,520 --> 00:25:30,480 Speaker 2: his latest column, Pitbull FIU deal gets smaller schools off 543 00:25:30,480 --> 00:25:35,040 Speaker 2: the bench online at Bloomberg dot com, Slash Opinion or 544 00:25:35,800 --> 00:25:40,160 Speaker 2: via opi n Go on the Bloomberg Terminal. Up next, 545 00:25:40,200 --> 00:25:42,560 Speaker 2: we turned back to the Olympics and talk with the 546 00:25:42,560 --> 00:25:46,080 Speaker 2: President and CEO of the Salt Lake City, Utah Committee 547 00:25:46,160 --> 00:25:49,280 Speaker 2: for the Games about the twenty thirty four Winter Olympics. 548 00:25:49,760 --> 00:25:52,880 Speaker 2: That is straight ahead on the Bloomberg Business of Sports 549 00:25:53,040 --> 00:26:00,240 Speaker 2: Bloomberg Radio. Around the world, you're listening to Bloomberg Isusiness 550 00:26:00,280 --> 00:26:04,359 Speaker 2: of Sports from Bloomberg Radio. Thanks for joining us on 551 00:26:04,359 --> 00:26:06,600 Speaker 2: the Bloomberg Business of Sports. Show, but we explore the 552 00:26:06,600 --> 00:26:08,880 Speaker 2: big money issues in the world of sports. Michael Barr, 553 00:26:08,920 --> 00:26:12,560 Speaker 2: along with Damian Sassour Scarlett Foo Is on assignment. We 554 00:26:12,680 --> 00:26:16,280 Speaker 2: have the Olympics in the US twice in the next decade, 555 00:26:16,760 --> 00:26:19,879 Speaker 2: first in LA for the Summer Games in twenty twenty 556 00:26:19,920 --> 00:26:22,600 Speaker 2: eight and again in Salt Lake City for the twenty 557 00:26:22,800 --> 00:26:26,240 Speaker 2: thirty four Winter Games. To take us through how Salt 558 00:26:26,359 --> 00:26:29,399 Speaker 2: Lake City got tapped for the thirty four Winter Games 559 00:26:29,720 --> 00:26:34,160 Speaker 2: and how it's preparing, we welcome Fraser Bullock. He's president 560 00:26:34,320 --> 00:26:37,399 Speaker 2: and CEO of the Salt Lake City, Utah Committee for 561 00:26:37,400 --> 00:26:43,119 Speaker 2: the Games and co founding managing partner of Sorenson Capital. Fraser, 562 00:26:43,600 --> 00:26:45,600 Speaker 2: welcome to the Bloomberg Business of Sports. 563 00:26:46,080 --> 00:26:47,200 Speaker 5: Wonderful to be here. 564 00:26:47,920 --> 00:26:51,240 Speaker 2: Well, I know this sounds like that old stupid question, 565 00:26:51,320 --> 00:26:52,800 Speaker 2: but how do you feel? 566 00:26:55,520 --> 00:26:59,720 Speaker 5: Well, it's been a long journey because at closing ceremonies 567 00:27:00,160 --> 00:27:02,680 Speaker 5: in two thousand and two, it was so wonderful. I said, 568 00:27:02,800 --> 00:27:05,399 Speaker 5: I thought to myself, We've got to do this again. 569 00:27:05,960 --> 00:27:09,360 Speaker 5: It was such a special time. And so here we are, 570 00:27:10,040 --> 00:27:13,320 Speaker 5: after twenty two years of work, that we've secured the 571 00:27:13,320 --> 00:27:17,920 Speaker 5: Games for twenty thirty four. So we are absolutely thrilled. 572 00:27:17,680 --> 00:27:18,200 Speaker 2: So frazy. 573 00:27:18,240 --> 00:27:19,960 Speaker 3: You have to take me through this process, right, I 574 00:27:20,000 --> 00:27:22,199 Speaker 3: mean the International Olympic Committee. I mean when did it 575 00:27:22,280 --> 00:27:24,400 Speaker 3: start for you for this new round for the twenty 576 00:27:24,480 --> 00:27:26,320 Speaker 3: thirty four Games. I mean, how long have you and 577 00:27:26,320 --> 00:27:28,160 Speaker 3: your team been working on securing the games. 578 00:27:28,240 --> 00:27:32,520 Speaker 5: Well, I would say informally twenty two years. Wow, a 579 00:27:32,600 --> 00:27:37,359 Speaker 5: little more formally ten years, but formally five years because 580 00:27:37,400 --> 00:27:40,639 Speaker 5: we had to be selected by the US Olympic and 581 00:27:40,680 --> 00:27:44,440 Speaker 5: Paralympic Committee, which we were in twenty eighteen, and at 582 00:27:44,440 --> 00:27:47,200 Speaker 5: the end of twenty eighteen, so we were selected as 583 00:27:47,240 --> 00:27:50,639 Speaker 5: the US candidate to be put forward, and so step 584 00:27:50,680 --> 00:27:53,879 Speaker 5: by step with the new process, it's very much a 585 00:27:53,920 --> 00:27:57,320 Speaker 5: partnership with the International Olympic Committee. And here we are. 586 00:27:58,280 --> 00:28:00,840 Speaker 2: The thing about the Salt Lakes the Games that I 587 00:28:00,920 --> 00:28:06,800 Speaker 2: loved in two thousand and two was winter time in Utah. 588 00:28:07,640 --> 00:28:12,600 Speaker 2: It is the perfect backdrop for the games. And what 589 00:28:12,720 --> 00:28:15,840 Speaker 2: I'd be mistaken if I said that it is also 590 00:28:15,920 --> 00:28:19,080 Speaker 2: a money saver because a lot of the sites that 591 00:28:19,160 --> 00:28:21,880 Speaker 2: were used for the two thousand and two Games will 592 00:28:21,920 --> 00:28:24,600 Speaker 2: probably be used again for these games. 593 00:28:25,040 --> 00:28:25,240 Speaker 3: Well. 594 00:28:25,280 --> 00:28:28,520 Speaker 5: The nice thing about many of our venues is there mountains. 595 00:28:28,640 --> 00:28:29,760 Speaker 2: Yeah, and they're already here. 596 00:28:29,800 --> 00:28:32,000 Speaker 5: We don't have to put mountains in place, and we 597 00:28:32,080 --> 00:28:36,560 Speaker 5: have fabulous ski resorts who become our partners in hosting 598 00:28:37,600 --> 00:28:41,560 Speaker 5: the world. But every single one of our permanent venues 599 00:28:41,600 --> 00:28:44,400 Speaker 5: that we need is in place, including the Olympic Village, 600 00:28:44,480 --> 00:28:49,400 Speaker 5: in opening and closing ceremonies, speed skating, everything is there. 601 00:28:49,480 --> 00:28:52,520 Speaker 5: So it is a money saver. We are the best place, 602 00:28:52,600 --> 00:28:55,840 Speaker 5: I believe, economically in the world to host games because 603 00:28:55,880 --> 00:28:57,480 Speaker 5: of that existing infrastructure. 604 00:28:57,760 --> 00:29:00,840 Speaker 3: Well, Fraser, you were COO and CFO of the Salt 605 00:29:00,920 --> 00:29:03,120 Speaker 3: Lake Organizing Committee back in two thousand and two, so 606 00:29:03,480 --> 00:29:05,600 Speaker 3: you know, you're familiar with the business Dury, and you're 607 00:29:05,800 --> 00:29:07,600 Speaker 3: well familiar with the fact that of all the Winter 608 00:29:07,640 --> 00:29:10,400 Speaker 3: Games we've probably seen since, not one has been profitable 609 00:29:10,440 --> 00:29:12,600 Speaker 3: except yours. So tell to us a little bit about 610 00:29:12,600 --> 00:29:14,760 Speaker 3: what makes Salt Lake different in that respect from a 611 00:29:14,880 --> 00:29:18,400 Speaker 3: from a commercial standpoint, what makes Salt Lake City profitable? 612 00:29:18,440 --> 00:29:19,960 Speaker 3: And then you look at some of these other you know, 613 00:29:20,000 --> 00:29:22,440 Speaker 3: host cities like Nagano, et cetera, and and and things 614 00:29:22,520 --> 00:29:23,680 Speaker 3: kind of fell short a bit. 615 00:29:23,960 --> 00:29:29,040 Speaker 5: Well, it's a it's a philosophy of must have versus 616 00:29:29,120 --> 00:29:33,000 Speaker 5: nice to have, And so we really focus on what's 617 00:29:33,280 --> 00:29:38,240 Speaker 5: essential to be able to do this and to put 618 00:29:38,280 --> 00:29:44,200 Speaker 5: on the games. And it's really a dynamic process because 619 00:29:44,240 --> 00:29:46,000 Speaker 5: you don't know what your revenues are going to be 620 00:29:46,520 --> 00:29:49,440 Speaker 5: until they're in the door, and a lot of the 621 00:29:49,480 --> 00:29:52,760 Speaker 5: revenues don't come until a year out or two years out, 622 00:29:53,240 --> 00:29:57,040 Speaker 5: whereas you've committed to spending money five years out. So 623 00:29:57,120 --> 00:30:02,320 Speaker 5: it's really the estimation process, the continual refinement. But we 624 00:30:02,440 --> 00:30:05,000 Speaker 5: used the philosophy of must have versus nice to have, 625 00:30:05,560 --> 00:30:08,080 Speaker 5: where we said, Okay, we're going to spend money on 626 00:30:08,120 --> 00:30:10,480 Speaker 5: the things we know to put on the games, but 627 00:30:10,600 --> 00:30:14,480 Speaker 5: then we said, if we have money left over, then 628 00:30:14,520 --> 00:30:17,040 Speaker 5: we're going to spend it on these nice to haves 629 00:30:17,400 --> 00:30:21,360 Speaker 5: to really dress up the games. And fortunately, through that philosophy, 630 00:30:21,840 --> 00:30:23,920 Speaker 5: we did have some money left over. We put in 631 00:30:23,960 --> 00:30:26,800 Speaker 5: the best fireworks in history and dressed up our city 632 00:30:26,840 --> 00:30:31,440 Speaker 5: with these entire buildings with these building wraps. But yet 633 00:30:31,480 --> 00:30:34,040 Speaker 5: we still had one hundred million dollars left over at 634 00:30:34,040 --> 00:30:35,920 Speaker 5: the end to show a profit. 635 00:30:36,120 --> 00:30:39,200 Speaker 3: Well, Fraser, before you know, Salt like actually did was 636 00:30:39,200 --> 00:30:41,320 Speaker 3: awarded the games. You know, Michael Barr and I were 637 00:30:41,360 --> 00:30:44,200 Speaker 3: looking at ski Off ski On, you know, Park City, 638 00:30:44,320 --> 00:30:46,600 Speaker 3: Deer Valley. And you know, I need to ask you 639 00:30:46,640 --> 00:30:48,920 Speaker 3: this because the impact of having the Olympics on local 640 00:30:48,960 --> 00:30:52,160 Speaker 3: real estate prices is not insignificant. So talk to us 641 00:30:52,200 --> 00:30:53,920 Speaker 3: a little bit about that. What do you think the 642 00:30:53,960 --> 00:30:57,680 Speaker 3: impact on local renters airbnbs are going to be in 643 00:30:57,720 --> 00:30:59,920 Speaker 3: and about the area. I mean, can we expect it 644 00:31:00,040 --> 00:31:03,160 Speaker 3: to be profitable or unforgettable so to speak? 645 00:31:03,880 --> 00:31:07,360 Speaker 5: Yeah, Well, it's interesting you go back to O. Two. 646 00:31:07,520 --> 00:31:11,160 Speaker 5: I think Utah was discovered a little bit back then 647 00:31:11,360 --> 00:31:17,960 Speaker 5: because it's always been this beautiful, wonderful, natural winter wonderland 648 00:31:18,080 --> 00:31:21,480 Speaker 5: and southern Utah, so it's got this natural beauty and 649 00:31:21,600 --> 00:31:25,200 Speaker 5: so things got discovered a little back a little bit 650 00:31:25,240 --> 00:31:29,040 Speaker 5: back in two and so we had increases in real 651 00:31:29,160 --> 00:31:32,760 Speaker 5: estate values, et cetera. But I think at this point 652 00:31:32,920 --> 00:31:35,920 Speaker 5: Utah has pretty much been discovered in terms of what 653 00:31:36,000 --> 00:31:40,280 Speaker 5: it is. But during the games period, obviously things are 654 00:31:40,320 --> 00:31:44,120 Speaker 5: going to be at full occupancy airbnbs, and maybe there's 655 00:31:44,160 --> 00:31:49,000 Speaker 5: some incremental real estate appreciation. But for the most part, 656 00:31:49,040 --> 00:31:53,000 Speaker 5: I think Utah has been discovered. People know what a 657 00:31:53,280 --> 00:31:56,920 Speaker 5: wonderful place it is to live, and so we'll see 658 00:31:56,920 --> 00:31:59,640 Speaker 5: most of the bump just during the Games. But I 659 00:31:59,680 --> 00:32:02,360 Speaker 5: don't think much post games. 660 00:32:02,200 --> 00:32:05,200 Speaker 2: Without getting into you know, I don't want to get 661 00:32:05,240 --> 00:32:09,880 Speaker 2: in any controversies between Paris and Salt Lake City, but 662 00:32:10,040 --> 00:32:15,240 Speaker 2: your thoughts about Paris and the just recently wrapped up games. 663 00:32:14,920 --> 00:32:20,240 Speaker 5: There, Well, I thought Paris did an exceptional job. I mean, 664 00:32:20,760 --> 00:32:23,400 Speaker 5: I think that it's one of the best places on 665 00:32:23,440 --> 00:32:25,920 Speaker 5: the planet to host summer games. You just look at 666 00:32:26,200 --> 00:32:31,320 Speaker 5: those iconic venues and I was there and beach volleyball 667 00:32:31,360 --> 00:32:36,240 Speaker 5: at the Eiffel Tower, and it's just an amazing city. 668 00:32:37,240 --> 00:32:40,160 Speaker 5: And what they did in terms of the infrastructure and 669 00:32:40,200 --> 00:32:46,120 Speaker 5: everything was fantastic. So I thought Paris did a really 670 00:32:46,160 --> 00:32:46,920 Speaker 5: really good job. 671 00:32:47,440 --> 00:32:51,280 Speaker 3: So Frazer, you know, you began your career at Ban Kapito. 672 00:32:51,400 --> 00:32:53,600 Speaker 3: You were one of the founding partners I believe there, 673 00:32:53,640 --> 00:32:55,959 Speaker 3: and you know you are now in the Utah Technology 674 00:32:56,000 --> 00:32:59,400 Speaker 3: Council Hall of Fames. So your experience also with Sorensen 675 00:32:59,440 --> 00:33:03,080 Speaker 3: and working with technology companies bringing them up is really unparalleled, 676 00:33:03,120 --> 00:33:06,040 Speaker 3: specifically for those out of the Utah, the state of Utah. 677 00:33:06,080 --> 00:33:07,880 Speaker 3: And you know, I'm curious to hear thoughts. You know, 678 00:33:07,880 --> 00:33:10,680 Speaker 3: we've got you know, Milan in twenty twenty six, We've 679 00:33:10,720 --> 00:33:12,600 Speaker 3: got the French shops in twenty thirty so we're still 680 00:33:12,600 --> 00:33:15,040 Speaker 3: a ways away from twenty thirty four. But the role 681 00:33:15,080 --> 00:33:19,000 Speaker 3: that streaming and AI and technology played in the Paris Olympics, 682 00:33:19,040 --> 00:33:22,320 Speaker 3: I'm just curious to hear if you could even envision 683 00:33:22,480 --> 00:33:24,960 Speaker 3: what's going to happen, you know, some I don't know 684 00:33:25,000 --> 00:33:26,680 Speaker 3: ten years down the road. I mean, how do you 685 00:33:26,920 --> 00:33:29,280 Speaker 3: expect it to impact Salt Lake City in the Games 686 00:33:29,280 --> 00:33:30,120 Speaker 3: in twenty thirty four. 687 00:33:30,640 --> 00:33:34,280 Speaker 5: Yeah, that's a huge unknown. But a big part of 688 00:33:34,320 --> 00:33:36,440 Speaker 5: my career has been in technology, and I see the 689 00:33:36,560 --> 00:33:40,440 Speaker 5: rapid advancement that we're all experiencing, and we're just on 690 00:33:40,520 --> 00:33:45,760 Speaker 5: the cusp of some really big performance improvements relative to 691 00:33:45,920 --> 00:33:50,480 Speaker 5: computing power and AI on top of that. So we're 692 00:33:51,520 --> 00:33:57,880 Speaker 5: actually going to start designing early on our architecture, our 693 00:33:57,920 --> 00:34:01,960 Speaker 5: technology architecture in November based on what we see today, 694 00:34:02,480 --> 00:34:04,640 Speaker 5: but where we think it's going to be going. But 695 00:34:04,800 --> 00:34:07,920 Speaker 5: we know we're going to be wrong by some measure 696 00:34:08,440 --> 00:34:11,759 Speaker 5: because things just change so fast and it's exciting, but 697 00:34:11,880 --> 00:34:15,680 Speaker 5: we will embrace it along the way, but we'll probably 698 00:34:15,719 --> 00:34:20,640 Speaker 5: lock down our systems about two years out because you 699 00:34:20,719 --> 00:34:25,120 Speaker 5: don't want to have a bleeding edge technology because it 700 00:34:25,200 --> 00:34:29,160 Speaker 5: has to work. So we'll take advantage of all the improvements, 701 00:34:29,200 --> 00:34:32,360 Speaker 5: but then we'll lock it in enough in advance that 702 00:34:32,400 --> 00:34:36,160 Speaker 5: we can be certain that will deliver a stable, fantastic 703 00:34:36,239 --> 00:34:37,839 Speaker 5: experience from the technology. 704 00:34:38,000 --> 00:34:39,880 Speaker 3: I mean, are we going to see, you know, like 705 00:34:40,040 --> 00:34:43,719 Speaker 3: avatars of Jamie Lynn and Craig Kelly and snowboarding. I mean, 706 00:34:43,800 --> 00:34:45,879 Speaker 3: like seriously, I mean, what can we really I mean, 707 00:34:45,920 --> 00:34:48,239 Speaker 3: think about this, Michael bar ten years down the road, 708 00:34:48,239 --> 00:34:49,799 Speaker 3: what kind of world we're going to be living in there? 709 00:34:49,880 --> 00:34:51,600 Speaker 5: As it applies to the Games. I think there are 710 00:34:51,600 --> 00:34:54,360 Speaker 5: a couple of areas that were really interested in. Number 711 00:34:54,400 --> 00:34:58,360 Speaker 5: one is transportation systems. Who knows what they're going to 712 00:34:58,360 --> 00:35:00,799 Speaker 5: look like ten years from now. We want them to 713 00:35:00,840 --> 00:35:04,880 Speaker 5: be more sustainable, more public, and whether it be self 714 00:35:04,920 --> 00:35:09,520 Speaker 5: driving vehicles, we suspect so, but so our transportation system 715 00:35:09,560 --> 00:35:13,399 Speaker 5: could be totally different from what we've experienced in the past. 716 00:35:13,680 --> 00:35:18,040 Speaker 5: Another area that I just think of opening and closing ceremonies, 717 00:35:18,080 --> 00:35:22,239 Speaker 5: which are iconic for the Games, and that's where your 718 00:35:22,239 --> 00:35:26,840 Speaker 5: avatars are. Different things may may show up. Because I 719 00:35:27,200 --> 00:35:30,680 Speaker 5: looked at the closing ceremonies of Paris and I was 720 00:35:30,800 --> 00:35:34,440 Speaker 5: just I was thrilled with what I saw but said, wow, 721 00:35:34,520 --> 00:35:37,879 Speaker 5: could we take this to a new level utilizing technology 722 00:35:38,040 --> 00:35:43,319 Speaker 5: and drones and three D avatars and and things like that. 723 00:35:43,600 --> 00:35:46,000 Speaker 5: It's it could be pretty mind blowing. 724 00:35:46,520 --> 00:35:48,680 Speaker 2: And whatever movie Tom Cruise is going to be and 725 00:35:48,800 --> 00:35:49,319 Speaker 2: use him too. 726 00:35:49,840 --> 00:35:50,080 Speaker 5: I was. 727 00:35:50,600 --> 00:35:53,680 Speaker 2: I was really impressed by Tom Cruise in the in 728 00:35:53,719 --> 00:35:57,720 Speaker 2: the closing ceremonies because and I'm looking at the shot 729 00:35:57,760 --> 00:36:01,000 Speaker 2: and you you talk about this with the drone. He 730 00:36:01,080 --> 00:36:03,239 Speaker 2: has to just say, Okay, I'm gonna trust you and 731 00:36:03,400 --> 00:36:09,080 Speaker 2: just drop off this high platform, and bless his heart, 732 00:36:09,120 --> 00:36:10,879 Speaker 2: he did it. I got to give it to him. 733 00:36:10,880 --> 00:36:14,759 Speaker 2: So but again, catch Michael bar Job jumping off the 734 00:36:17,160 --> 00:36:20,120 Speaker 2: that's well, that's after I lost a hand playing poker. 735 00:36:20,320 --> 00:36:24,760 Speaker 2: But we were running out of time, but really quickly Frasier, 736 00:36:25,040 --> 00:36:28,319 Speaker 2: I want to bring up again that you guys have 737 00:36:28,440 --> 00:36:31,359 Speaker 2: worked very hard for this, for the Salt Lake City, 738 00:36:31,480 --> 00:36:34,840 Speaker 2: Utah committee, for the Games to come in Salt Lake City, 739 00:36:35,239 --> 00:36:38,000 Speaker 2: And can you give a quick shout out to the 740 00:36:38,040 --> 00:36:40,480 Speaker 2: Paralympics because that's exciting to watch. 741 00:36:40,520 --> 00:36:43,200 Speaker 5: Also, well, the Paralympics is one of my favorite things 742 00:36:43,239 --> 00:36:47,960 Speaker 5: because these athletes, I mean, these are world class athletes 743 00:36:48,440 --> 00:36:53,359 Speaker 5: that have overcome disabilities and are amazing and actually one 744 00:36:53,360 --> 00:36:55,719 Speaker 5: of my favorite things, if not my favorite, from O 745 00:36:55,880 --> 00:37:01,680 Speaker 5: two was the gold medal sled hockey game USA VERSUS 746 00:37:01,719 --> 00:37:06,960 Speaker 5: Norway where this team, yeah, this team had no money 747 00:37:07,480 --> 00:37:09,520 Speaker 5: from the US. They were the worst in the world, 748 00:37:09,560 --> 00:37:11,560 Speaker 5: but they rented ice time in the middle of the 749 00:37:11,640 --> 00:37:13,400 Speaker 5: night the only time they could afford it. And they 750 00:37:13,440 --> 00:37:16,719 Speaker 5: come to the US or they come to Utah and 751 00:37:16,760 --> 00:37:19,000 Speaker 5: they win game after game after game. They go in 752 00:37:19,080 --> 00:37:21,759 Speaker 5: the gold medal game and it's tied at the end 753 00:37:21,760 --> 00:37:25,680 Speaker 5: of regulation. The places ben't going wild, and then they 754 00:37:25,719 --> 00:37:28,960 Speaker 5: go into overtime and it stays tied. Then they go 755 00:37:29,040 --> 00:37:33,000 Speaker 5: to a shootout and Team USA wins in the shootout, 756 00:37:33,080 --> 00:37:37,000 Speaker 5: and it was just I looked at those athletes and 757 00:37:37,040 --> 00:37:39,799 Speaker 5: what they did, what they accomplished, what they've overcome in 758 00:37:39,840 --> 00:37:42,840 Speaker 5: their lives. And we had a theme of light the 759 00:37:42,880 --> 00:37:45,720 Speaker 5: fire within to inspire each of us to do better, 760 00:37:46,080 --> 00:37:49,560 Speaker 5: and boy did they exemplify that in the ultimate sense. 761 00:37:49,840 --> 00:37:53,640 Speaker 2: Fraser Bullock, President CEO of Salt Lake City, Utah, Committee 762 00:37:53,640 --> 00:37:58,200 Speaker 2: for the Games, because they have won the venue for 763 00:37:58,440 --> 00:38:02,799 Speaker 2: the twenty thirty four Olympic and Paralympic Winter Games, we 764 00:38:02,880 --> 00:38:05,960 Speaker 2: appreciate your time, sir. Thank you again for joining us 765 00:38:06,120 --> 00:38:08,600 Speaker 2: on the Bloomberg Business of Sports. We really do appreciate it. 766 00:38:08,640 --> 00:38:12,560 Speaker 2: Thank you so much, and thank you for joining us 767 00:38:12,600 --> 00:38:15,080 Speaker 2: on the Bloomberg Business of Sports. Were here each and 768 00:38:15,120 --> 00:38:18,040 Speaker 2: every week at the same time for my colleague Scarlett 769 00:38:18,120 --> 00:38:22,279 Speaker 2: Foo yay and Damien Sassour yay. I'm Michael Barr. Tune 770 00:38:22,320 --> 00:38:24,600 Speaker 2: in again next week for the latest on the stories 771 00:38:24,840 --> 00:38:27,520 Speaker 2: moving big money in the world of sports. You're listening 772 00:38:27,600 --> 00:38:31,800 Speaker 2: to the Bloomberg Business of Sports from Bloomberg Radio around 773 00:38:31,840 --> 00:38:32,400 Speaker 2: the world.