1 00:00:02,480 --> 00:00:07,080 Speaker 1: Bloomberg Audio Studios, Podcasts, radio News. 2 00:00:08,800 --> 00:00:11,639 Speaker 2: This is a special edition of The Bloomberg Business The Sports. 3 00:00:11,640 --> 00:00:14,440 Speaker 2: I'm Miranda Williams, and recently I traveled to the Washington, 4 00:00:14,520 --> 00:00:17,080 Speaker 2: DC Bureau where I had a special conversation with the 5 00:00:17,239 --> 00:00:21,480 Speaker 2: Washington Commander's President, Mark Klaus in a Bloomberg Newsmakers fireside 6 00:00:21,480 --> 00:00:25,000 Speaker 2: conversation on stage before a live audience. We talked about 7 00:00:25,040 --> 00:00:27,840 Speaker 2: the most important thing that everyone cares about in DC, 8 00:00:27,920 --> 00:00:30,920 Speaker 2: which of course, is the new three point seven billion 9 00:00:30,960 --> 00:00:33,800 Speaker 2: dollars stadium, probably going to be the second most expensive 10 00:00:33,800 --> 00:00:36,479 Speaker 2: stadium ever built when it's all said and done. That 11 00:00:36,520 --> 00:00:38,760 Speaker 2: stadium will be built at the RFK site where the 12 00:00:38,760 --> 00:00:43,440 Speaker 2: Commander's Slash Washington football team used to play, and so 13 00:00:43,479 --> 00:00:46,959 Speaker 2: they'll be returning. They're anticipating the stadium being complete by 14 00:00:47,000 --> 00:00:49,680 Speaker 2: twenty thirty. In the meantime, they will also have the 15 00:00:49,800 --> 00:00:53,479 Speaker 2: NFL Draft, which to many NFL people, they consider that 16 00:00:53,520 --> 00:00:56,480 Speaker 2: a prerequisite for hosting the Super Bowl. We'll see if 17 00:00:56,520 --> 00:00:59,400 Speaker 2: the Commanders in Washington, DC will someday host the Super Bowl. 18 00:00:59,600 --> 00:01:02,279 Speaker 2: Would I think that they will. Outside of that, we 19 00:01:02,320 --> 00:01:06,440 Speaker 2: also discussed flag football, the NFL's international business, and we 20 00:01:06,480 --> 00:01:08,679 Speaker 2: talked about Mark himself and the job that he has 21 00:01:08,720 --> 00:01:09,680 Speaker 2: being a team president. 22 00:01:09,760 --> 00:01:11,679 Speaker 3: So Mark was great. 23 00:01:12,000 --> 00:01:15,600 Speaker 2: Now let's listen to my Bloomberg Newsmakers fireside conversation with 24 00:01:15,800 --> 00:01:18,440 Speaker 2: Washington Commander's President Mark Laus. 25 00:01:19,240 --> 00:01:21,800 Speaker 3: Mark, thank you for doing this. 26 00:01:21,920 --> 00:01:23,000 Speaker 1: It's been to be here. 27 00:01:23,120 --> 00:01:25,560 Speaker 2: It's been about eighteen months since you took the job. 28 00:01:25,600 --> 00:01:28,639 Speaker 2: A little over that we met right at the NFL 29 00:01:28,720 --> 00:01:32,160 Speaker 2: League meeting last year, remember well somewhere on the West coast. 30 00:01:33,000 --> 00:01:33,920 Speaker 3: But for those of you who. 31 00:01:33,840 --> 00:01:37,240 Speaker 2: Don't know Mark Marcus, before he was in the football business, 32 00:01:37,240 --> 00:01:40,080 Speaker 2: had a very prevalent past in the food industry. 33 00:01:40,280 --> 00:01:40,400 Speaker 1: Right. 34 00:01:40,840 --> 00:01:44,039 Speaker 2: So when the commander's role team president opened up, what 35 00:01:44,120 --> 00:01:46,160 Speaker 2: peauked your interest about it? That seems like a dramatic 36 00:01:46,200 --> 00:01:48,480 Speaker 2: shift from food team president. 37 00:01:48,920 --> 00:01:52,720 Speaker 4: Well, other than being you know, probably every twelve or 38 00:01:52,760 --> 00:01:56,720 Speaker 4: thirteen year old boys dream to work on a sports team. 39 00:01:57,560 --> 00:02:01,720 Speaker 4: For me personally, there were a variety of things. And 40 00:02:01,920 --> 00:02:05,800 Speaker 4: first of all, I should say loved, you know, feel 41 00:02:05,960 --> 00:02:08,200 Speaker 4: very lucky to have been able to spend the time 42 00:02:08,240 --> 00:02:13,320 Speaker 4: I did with the Campbell's Company, and that journey was 43 00:02:13,360 --> 00:02:16,880 Speaker 4: an extraordinary gift. And you know, I was lucky enough 44 00:02:16,919 --> 00:02:20,200 Speaker 4: that I had a great successor there ready to go 45 00:02:20,880 --> 00:02:24,880 Speaker 4: and thinking about the next chapter. My life and so 46 00:02:24,960 --> 00:02:29,000 Speaker 4: many things in my life have revolved around sports, and 47 00:02:31,440 --> 00:02:35,480 Speaker 4: my you know, perspective was in this next chapter. I 48 00:02:35,520 --> 00:02:38,400 Speaker 4: wanted to try to go do something different, but I 49 00:02:38,480 --> 00:02:40,520 Speaker 4: wanted to be able to bring some of the things 50 00:02:41,200 --> 00:02:45,560 Speaker 4: that I had learned or that experienced and turning around businesses. 51 00:02:45,200 --> 00:02:46,480 Speaker 1: Or transforming brands. 52 00:02:47,560 --> 00:02:50,520 Speaker 4: And you know, I couldn't have found a better owner 53 00:02:51,200 --> 00:02:55,360 Speaker 4: in Josh Harris. And what Josh has done consistently, what 54 00:02:55,520 --> 00:02:59,079 Speaker 4: his vision was for the Commanders, I don't think there's 55 00:02:59,120 --> 00:02:59,800 Speaker 4: any mystery. 56 00:03:00,160 --> 00:03:02,160 Speaker 1: Were a team in transition on. 57 00:03:02,120 --> 00:03:06,840 Speaker 4: A lot of different levels, and that opportunity to come 58 00:03:06,919 --> 00:03:10,720 Speaker 4: into sports but also bring some things to the table 59 00:03:11,560 --> 00:03:14,640 Speaker 4: that are relevant from my past, I thought was just 60 00:03:14,680 --> 00:03:18,280 Speaker 4: this perfect mix. And so I went through a very 61 00:03:18,360 --> 00:03:22,519 Speaker 4: rigorous interview process as Josh does most things and his 62 00:03:23,520 --> 00:03:27,280 Speaker 4: business life. But I think the combination of those areas 63 00:03:27,280 --> 00:03:29,160 Speaker 4: as well as the evolving world of sports, and I'm 64 00:03:29,200 --> 00:03:33,560 Speaker 4: sure we'll talk about that more made for just really 65 00:03:33,919 --> 00:03:34,760 Speaker 4: a match made in. 66 00:03:34,720 --> 00:03:36,280 Speaker 1: Heaven and so be happier. 67 00:03:36,520 --> 00:03:39,440 Speaker 2: Based on your previous history, what is the biggest difference 68 00:03:39,440 --> 00:03:44,160 Speaker 2: that you find between corporate culture and team culture. 69 00:03:44,080 --> 00:03:46,240 Speaker 4: Well, it's you know, I tell people a lot of 70 00:03:46,240 --> 00:03:49,000 Speaker 4: times it's been kind of like fifty to fifty, right, 71 00:03:49,040 --> 00:03:52,160 Speaker 4: fifty percent of this are things that I know very well. 72 00:03:52,280 --> 00:03:54,880 Speaker 1: Like, you know, the business is kind of the business. 73 00:03:54,960 --> 00:03:59,160 Speaker 4: It's not a particularly complicated business model. Doesn't mean it's simple, 74 00:03:59,240 --> 00:04:04,720 Speaker 4: but it's not complicated. A lot of the organizational demands 75 00:04:04,760 --> 00:04:06,800 Speaker 4: of what you're trying to do to set clarity of 76 00:04:06,880 --> 00:04:10,320 Speaker 4: direction and build culture very very consistent. 77 00:04:10,360 --> 00:04:12,600 Speaker 1: But there are some things that are are quite different. 78 00:04:12,680 --> 00:04:16,679 Speaker 4: I affectionately say to people sometimes that there were many. 79 00:04:16,480 --> 00:04:17,640 Speaker 1: People that like soup. 80 00:04:18,760 --> 00:04:22,760 Speaker 4: These guys love football, right, and it's a different level 81 00:04:23,440 --> 00:04:29,440 Speaker 4: of passion, and that makes for this kind of added 82 00:04:30,080 --> 00:04:33,039 Speaker 4: I think level of responsibility, I would say, or this, 83 00:04:33,400 --> 00:04:36,840 Speaker 4: you know, at least for me personally, feeling like, you know, 84 00:04:36,880 --> 00:04:39,200 Speaker 4: the things that we do, we've really got to get 85 00:04:39,240 --> 00:04:42,360 Speaker 4: done right. And you know, as it relates to culture, 86 00:04:42,520 --> 00:04:45,320 Speaker 4: I honestly think there's more like than there is difference. 87 00:04:45,400 --> 00:04:48,640 Speaker 4: You know, this was an organization that had gone through 88 00:04:48,640 --> 00:04:52,320 Speaker 4: some tough times, and I think in many ways we 89 00:04:52,360 --> 00:04:56,200 Speaker 4: started kind of at the beginning again re establishing what 90 00:04:56,279 --> 00:04:59,000 Speaker 4: the purpose and the values of the organization was going 91 00:04:59,080 --> 00:05:01,800 Speaker 4: to be. Would never have come if I didn't have 92 00:05:01,880 --> 00:05:04,599 Speaker 4: that alignment with Josh, who's got a very clear view 93 00:05:05,200 --> 00:05:07,240 Speaker 4: of how we want to do things, and it's exactly 94 00:05:07,279 --> 00:05:09,960 Speaker 4: the way that you know, I believe. 95 00:05:09,680 --> 00:05:10,640 Speaker 1: We should be doing it. 96 00:05:10,680 --> 00:05:14,400 Speaker 4: And so establishing that for an organization, and you know, 97 00:05:14,440 --> 00:05:17,159 Speaker 4: you evaluate the talent, do I've got the right people 98 00:05:18,040 --> 00:05:20,440 Speaker 4: in the right shares a lot of really you know, 99 00:05:20,560 --> 00:05:24,599 Speaker 4: credit to Jason who had the job before me, certainly 100 00:05:24,600 --> 00:05:27,839 Speaker 4: brought in some really talented folks, and so for me, 101 00:05:28,360 --> 00:05:30,200 Speaker 4: it felt very familiar. 102 00:05:30,480 --> 00:05:31,720 Speaker 1: Most of my career on the. 103 00:05:31,680 --> 00:05:35,000 Speaker 4: Business side has been spent in businesses that were in turnarounds, 104 00:05:35,880 --> 00:05:38,400 Speaker 4: and you know, a lot of that playbook we applied here. 105 00:05:38,440 --> 00:05:42,240 Speaker 4: So probably from a cultural standpoint, I'd say more similarities 106 00:05:42,279 --> 00:05:43,360 Speaker 4: than differences. 107 00:05:43,360 --> 00:05:47,520 Speaker 2: Interesting a couple of years ago, when the Commanders Jane 108 00:05:47,600 --> 00:05:50,200 Speaker 2: Daniels had been drafted and the Commanders are riding high, 109 00:05:50,320 --> 00:05:52,440 Speaker 2: I wrote this story that said the Commanders are the 110 00:05:52,440 --> 00:05:55,279 Speaker 2: most exciting team in the NFL, and I talked to 111 00:05:55,360 --> 00:05:57,480 Speaker 2: Josh about it, and I talked to some season ticket holders, 112 00:05:57,520 --> 00:05:59,720 Speaker 2: I talked to some fans, and one of the fans 113 00:05:59,720 --> 00:06:02,200 Speaker 2: that I book to said, you know, the previous ownership 114 00:06:02,720 --> 00:06:05,000 Speaker 2: was the previous ownership, But it feels like Josh owns 115 00:06:05,000 --> 00:06:07,040 Speaker 2: the team on behalf of the fans, and it feels 116 00:06:07,040 --> 00:06:08,960 Speaker 2: like he's one of us. Can you speak to that 117 00:06:09,000 --> 00:06:11,160 Speaker 2: side of him, maybe the passion that Josh has about 118 00:06:11,160 --> 00:06:11,599 Speaker 2: this team. 119 00:06:11,760 --> 00:06:16,720 Speaker 4: Yeah, I think you know, there's no mystery in how 120 00:06:17,040 --> 00:06:22,000 Speaker 4: Josh and the broader ownership group has approached the team. 121 00:06:22,279 --> 00:06:26,000 Speaker 4: I think they've been very very clear that this is 122 00:06:26,080 --> 00:06:30,719 Speaker 4: more than just about a business right. Obviously, putting a 123 00:06:30,800 --> 00:06:33,920 Speaker 4: product on the field, the hiring of Adam Peters and 124 00:06:34,520 --> 00:06:37,560 Speaker 4: Dan Quinn were great first steps in the right direction. Obviously, 125 00:06:37,680 --> 00:06:42,480 Speaker 4: drafting Jaden and the commitment to investment and ensuring that 126 00:06:42,640 --> 00:06:46,919 Speaker 4: winning and championship football is part of what we're bringing 127 00:06:46,960 --> 00:06:50,920 Speaker 4: to our fans is obviously paramount. But I would also 128 00:06:51,000 --> 00:06:55,279 Speaker 4: say that the things that also make fans proud of 129 00:06:55,320 --> 00:06:57,880 Speaker 4: their franchise is also very. 130 00:06:57,760 --> 00:06:58,800 Speaker 1: Important to Josh. 131 00:06:58,839 --> 00:07:02,720 Speaker 4: So, you know, how we reflect on the heritage of 132 00:07:02,760 --> 00:07:07,479 Speaker 4: the team, how we treat our legends, how we engage 133 00:07:07,480 --> 00:07:10,400 Speaker 4: and interact with the community, all of that has been 134 00:07:10,520 --> 00:07:15,400 Speaker 4: elevated as a very significant priority in the agenda. And 135 00:07:15,600 --> 00:07:17,640 Speaker 4: you know, to be perfectly honest, we had some work 136 00:07:17,680 --> 00:07:21,600 Speaker 4: to do there, rebuilding trust, in those relationships in some 137 00:07:21,680 --> 00:07:26,120 Speaker 4: cases were very important. But from you know, day one, 138 00:07:26,240 --> 00:07:29,480 Speaker 4: the clarity that Josh has had on this and you know, 139 00:07:29,520 --> 00:07:32,320 Speaker 4: I think it's born from you know, who he is, 140 00:07:32,480 --> 00:07:35,000 Speaker 4: but it's also born from the fact that he grew 141 00:07:35,040 --> 00:07:38,480 Speaker 4: up here. This in many ways is his team. Like 142 00:07:38,600 --> 00:07:41,720 Speaker 4: he grew up as a fan. He you know, treasured 143 00:07:41,760 --> 00:07:44,000 Speaker 4: moments where he was going to the stadium and to 144 00:07:44,080 --> 00:07:48,400 Speaker 4: the game, and I think that responsibility shapes a lot 145 00:07:48,440 --> 00:07:51,120 Speaker 4: of his thinking. But I will tell you in watching 146 00:07:51,200 --> 00:07:56,520 Speaker 4: him more broadly across the business world, he he brings 147 00:07:56,960 --> 00:07:59,720 Speaker 4: very similar values to those businesses as well, and that's 148 00:07:59,760 --> 00:08:02,840 Speaker 4: something that I really admire and you know, as someone 149 00:08:02,840 --> 00:08:07,600 Speaker 4: who's working for him in that ecosystem, is really encouraging. 150 00:08:07,840 --> 00:08:11,120 Speaker 2: So let's stay on business and sponsorship, I think is 151 00:08:11,160 --> 00:08:13,880 Speaker 2: something that is really important to NFL teams in terms 152 00:08:13,920 --> 00:08:16,320 Speaker 2: of the revenue that they're able to bring in. There's 153 00:08:16,360 --> 00:08:19,200 Speaker 2: no secret that before Josh Harris's time that commanders, the 154 00:08:19,280 --> 00:08:21,920 Speaker 2: value of the commanders had decreased over time due to 155 00:08:22,080 --> 00:08:24,840 Speaker 2: a multitude of situations. But since then, I believe there 156 00:08:24,880 --> 00:08:26,440 Speaker 2: was a report last year that came out from the 157 00:08:26,480 --> 00:08:30,400 Speaker 2: Athletic in ESPN that said, the Commanders sponsorship revenue was 158 00:08:30,440 --> 00:08:32,800 Speaker 2: in the top third of the league. What has your 159 00:08:32,880 --> 00:08:35,880 Speaker 2: conversations or what have your conversations been like with these 160 00:08:35,920 --> 00:08:39,040 Speaker 2: sponsors who are now once again excited and being welcomed 161 00:08:39,160 --> 00:08:40,559 Speaker 2: back into the stadium. 162 00:08:40,559 --> 00:08:43,920 Speaker 4: Well, not that we're competitive or anything, but we are 163 00:08:43,960 --> 00:08:45,080 Speaker 4: actually in the top ten. 164 00:08:45,200 --> 00:08:48,319 Speaker 1: Now excuse me, give a long way from where we were. 165 00:08:49,120 --> 00:08:53,079 Speaker 4: No, we're I think, you know again. I approached this 166 00:08:53,240 --> 00:08:57,839 Speaker 4: through a couple different lenses. The first is recognizing that 167 00:08:58,440 --> 00:09:01,480 Speaker 4: building trust with our partner was really important, and so 168 00:09:02,240 --> 00:09:05,760 Speaker 4: spending time better understanding, you know, what their concerns were, 169 00:09:05,920 --> 00:09:10,120 Speaker 4: what their opportunities were, was a big part of our outreach. 170 00:09:10,200 --> 00:09:14,640 Speaker 4: There's no question that improve performance on the football field helps. 171 00:09:14,640 --> 00:09:15,320 Speaker 1: Those things are. 172 00:09:15,240 --> 00:09:18,880 Speaker 4: Certainly part of the you know, kind of the algorithm. 173 00:09:18,960 --> 00:09:21,840 Speaker 4: But we want to also be able to control the 174 00:09:21,960 --> 00:09:26,320 Speaker 4: variables that we can control. And so, you know, part 175 00:09:26,320 --> 00:09:28,080 Speaker 4: of what's helped me a little bit as I sat 176 00:09:28,120 --> 00:09:30,120 Speaker 4: on the other side of that table for many, many 177 00:09:30,200 --> 00:09:33,439 Speaker 4: years in the food business as a client, and so 178 00:09:33,600 --> 00:09:36,520 Speaker 4: what we've tried to do is is adapt our model 179 00:09:36,559 --> 00:09:39,640 Speaker 4: on sponsorship from what used to be and it drove 180 00:09:39,679 --> 00:09:43,920 Speaker 4: me crazy. Are these very pedestrian conversations on how many 181 00:09:44,000 --> 00:09:45,400 Speaker 4: signs do I get my name on? 182 00:09:45,720 --> 00:09:46,400 Speaker 1: Or No. 183 00:09:46,640 --> 00:09:50,360 Speaker 4: What we want to understand is what a business's goals 184 00:09:50,400 --> 00:09:55,040 Speaker 4: and challenges are. We want to establish a strategy where 185 00:09:55,080 --> 00:10:01,280 Speaker 4: we're able to address those those goals or those KPIs, 186 00:10:01,960 --> 00:10:04,240 Speaker 4: and then we want to hold ourselves accountable. So I'll 187 00:10:04,240 --> 00:10:07,360 Speaker 4: sit down with our top sponsors and you know, we'll 188 00:10:07,400 --> 00:10:09,880 Speaker 4: reflect on the past year. What were your what were 189 00:10:09,920 --> 00:10:12,520 Speaker 4: the goals we agreed upon, did we deliver upon that? 190 00:10:13,160 --> 00:10:14,880 Speaker 1: Yes? Great? Or know? 191 00:10:15,080 --> 00:10:17,360 Speaker 4: What did we need to do differently to adjust? And 192 00:10:17,440 --> 00:10:20,559 Speaker 4: so what we're trying to do is differentiate ourselves. At 193 00:10:20,559 --> 00:10:26,160 Speaker 4: the same time, we're recovering from a period where we 194 00:10:26,160 --> 00:10:29,120 Speaker 4: weren't performing at the levels that we want. And you know, 195 00:10:29,160 --> 00:10:32,600 Speaker 4: I fully anticipate being in the geography we're in, the 196 00:10:32,640 --> 00:10:35,040 Speaker 4: team we have and the vision that we've got going 197 00:10:35,080 --> 00:10:37,880 Speaker 4: forward that you know, being in the top ten is 198 00:10:37,920 --> 00:10:41,240 Speaker 4: a great you know, measuring stick. But you know, we 199 00:10:41,240 --> 00:10:44,840 Speaker 4: we want to we want to chase the that number one, 200 00:10:45,200 --> 00:10:47,640 Speaker 4: those those guys down in Dallas, we want to go 201 00:10:47,679 --> 00:10:50,319 Speaker 4: after them, and uh, they've set a great bar for us. 202 00:10:50,400 --> 00:10:53,400 Speaker 4: But uh, but I think we have the ability to 203 00:10:53,520 --> 00:10:57,559 Speaker 4: compete in almost every aspect of the business with UH, 204 00:10:57,600 --> 00:10:58,880 Speaker 4: with the best in class teams. 205 00:10:59,280 --> 00:11:01,040 Speaker 2: I do feel like a portion of this crowd is 206 00:11:01,080 --> 00:11:02,800 Speaker 2: here to talk about the new stadium. 207 00:11:02,880 --> 00:11:04,400 Speaker 1: Yes, sure, but we're. 208 00:11:04,240 --> 00:11:04,760 Speaker 3: Going to get to that. 209 00:11:04,800 --> 00:11:06,960 Speaker 2: I want to do a couple of quickets on business. 210 00:11:07,000 --> 00:11:07,440 Speaker 1: First. 211 00:11:08,000 --> 00:11:11,000 Speaker 2: Number one, which is what area of the business do 212 00:11:11,080 --> 00:11:13,040 Speaker 2: you think has the most room to grow based on 213 00:11:13,080 --> 00:11:14,560 Speaker 2: your first eighteen months of the job. 214 00:11:14,760 --> 00:11:18,440 Speaker 4: Yeah, I mean there's no question that you know, one 215 00:11:18,520 --> 00:11:22,160 Speaker 4: of the things that that great teams have is this 216 00:11:22,400 --> 00:11:28,800 Speaker 4: loyal season ticket member fan base, right, and you have 217 00:11:28,840 --> 00:11:30,000 Speaker 4: to earn that, like you don't. 218 00:11:30,120 --> 00:11:32,040 Speaker 1: You don't just get that like you've got to. 219 00:11:32,160 --> 00:11:35,079 Speaker 4: That's a combination of what you're doing on the football field, 220 00:11:35,120 --> 00:11:38,480 Speaker 4: but also the experience for our fans when they come. 221 00:11:38,679 --> 00:11:42,240 Speaker 4: And so when I look at where we started from 222 00:11:42,440 --> 00:11:45,760 Speaker 4: relative to other teams, we were well behind. 223 00:11:45,840 --> 00:11:48,800 Speaker 1: And so a lot of my energy has been on trying. 224 00:11:48,520 --> 00:11:51,520 Speaker 4: To rebuild that season ticket base because my feeling is, 225 00:11:52,160 --> 00:11:54,560 Speaker 4: you know, those are our most committed fans. Those are 226 00:11:54,600 --> 00:11:57,760 Speaker 4: the folks that are investing the most, you know, hardered 227 00:11:57,920 --> 00:12:00,959 Speaker 4: money on the experience, and that's why you see a 228 00:12:01,000 --> 00:12:04,280 Speaker 4: lot of our marketing and what we're doing geared toward them. 229 00:12:05,320 --> 00:12:10,120 Speaker 4: Value menu, better pricing, better perks, more days at training camp, 230 00:12:10,240 --> 00:12:14,160 Speaker 4: all the things that are valuable to them. And so 231 00:12:14,240 --> 00:12:16,360 Speaker 4: I would say coming in that was a big gap 232 00:12:16,400 --> 00:12:19,200 Speaker 4: that we needed to fill. I honestly felt like the 233 00:12:19,240 --> 00:12:21,360 Speaker 4: sponsorship we were going to get that back. 234 00:12:21,559 --> 00:12:22,960 Speaker 1: I'm not saying that has been easy. 235 00:12:23,440 --> 00:12:27,560 Speaker 4: My team has worked incredibly hard, but you know, given 236 00:12:27,600 --> 00:12:30,520 Speaker 4: our location, given the history, we had been at the 237 00:12:30,559 --> 00:12:32,840 Speaker 4: top of the pyramid in the past, and I felt 238 00:12:32,840 --> 00:12:36,480 Speaker 4: we could do that. But regaining our fans trust and 239 00:12:36,520 --> 00:12:39,280 Speaker 4: loyalty to me is the biggest and we've made great progress, 240 00:12:39,320 --> 00:12:40,160 Speaker 4: but a lot more to do. 241 00:12:40,600 --> 00:12:43,080 Speaker 2: So now let's talk stadium, which is of course again 242 00:12:43,160 --> 00:12:45,680 Speaker 2: why everyone's here. I just want to give my perspective 243 00:12:45,720 --> 00:12:47,880 Speaker 2: on things. Josh, of course, bought this team in the 244 00:12:47,880 --> 00:12:51,440 Speaker 2: summer of twenty twenty three, the season last year. 245 00:12:51,600 --> 00:12:53,760 Speaker 3: I guess two years ago. You know that there's the 246 00:12:53,800 --> 00:12:54,720 Speaker 3: team's on up and up. 247 00:12:54,800 --> 00:12:58,320 Speaker 2: Go to the NFC Championship game in January, I believe 248 00:12:58,440 --> 00:13:01,240 Speaker 2: is when RFK was signed over to the team to 249 00:13:01,400 --> 00:13:05,599 Speaker 2: potentially have an opportunity to build on that land. 250 00:13:06,840 --> 00:13:07,600 Speaker 3: And so from my. 251 00:13:07,600 --> 00:13:10,400 Speaker 2: Perspective, I've joked with Josh about this where he told 252 00:13:10,440 --> 00:13:12,760 Speaker 2: me when I bought the Commanders, all my values as 253 00:13:12,760 --> 00:13:13,600 Speaker 2: an investor were. 254 00:13:13,440 --> 00:13:16,520 Speaker 3: Broken because I spent so much. But then when the 255 00:13:16,559 --> 00:13:19,240 Speaker 3: state these days with the Seahawks. 256 00:13:18,800 --> 00:13:20,520 Speaker 1: Stay Hawks look a little better. 257 00:13:20,559 --> 00:13:23,760 Speaker 2: Look any turns around some time later and you think 258 00:13:23,760 --> 00:13:25,960 Speaker 2: about the stadium deal and it's two point seven billion 259 00:13:26,000 --> 00:13:29,080 Speaker 2: dollars from the team, a billion dollars from everybody else. 260 00:13:29,480 --> 00:13:30,800 Speaker 3: And I wonder, from your. 261 00:13:30,679 --> 00:13:33,600 Speaker 2: Perspective, as you've thought about the process in building a 262 00:13:33,640 --> 00:13:37,280 Speaker 2: new stadium and having conversations with the community, what's that 263 00:13:37,360 --> 00:13:38,120 Speaker 2: been like so far? 264 00:13:38,440 --> 00:13:40,640 Speaker 4: Well it you know, to be honest, a lot of 265 00:13:40,640 --> 00:13:45,360 Speaker 4: times people will ask me what has been the most 266 00:13:45,360 --> 00:13:49,520 Speaker 4: surprising or the most different on my day to day 267 00:13:49,559 --> 00:13:53,440 Speaker 4: relative to corporate And you know, the honest answer is 268 00:13:53,480 --> 00:13:54,199 Speaker 4: the amount. 269 00:13:53,920 --> 00:13:55,960 Speaker 1: Of politics that I've had. 270 00:13:56,120 --> 00:13:59,120 Speaker 4: If I had any illusions of being in politics, I've 271 00:13:59,160 --> 00:14:01,959 Speaker 4: been cured of that. That out of my dream plan 272 00:14:02,040 --> 00:14:04,120 Speaker 4: now off my vision board. 273 00:14:04,920 --> 00:14:06,840 Speaker 1: I will say that. 274 00:14:08,040 --> 00:14:11,280 Speaker 4: You know, we've had an incredible partner in uh In 275 00:14:11,360 --> 00:14:16,280 Speaker 4: Mayor Bowser. You know, the process of this is a 276 00:14:16,440 --> 00:14:19,800 Speaker 4: very elongated one. As you know, it started with an 277 00:14:19,840 --> 00:14:27,000 Speaker 4: incredible win in in essentially bringing back responsibility for the 278 00:14:27,080 --> 00:14:31,360 Speaker 4: land to the district, and then from the district we began. 279 00:14:31,440 --> 00:14:34,400 Speaker 4: That's when I kind of stepped into the storyline and 280 00:14:34,480 --> 00:14:38,200 Speaker 4: started working with the mayor to align on a deal. 281 00:14:38,760 --> 00:14:42,720 Speaker 4: Following that, then we went to the district council and 282 00:14:42,840 --> 00:14:46,520 Speaker 4: started to work with the chairman of the district council, 283 00:14:46,560 --> 00:14:49,560 Speaker 4: Film Mendelshn, and then the broader district council. 284 00:14:49,640 --> 00:14:54,320 Speaker 1: So it was a six month labor of love and 285 00:14:55,280 --> 00:14:55,560 Speaker 1: so much. 286 00:14:55,640 --> 00:14:57,600 Speaker 2: I'd say six months, I will say is a lot 287 00:14:57,640 --> 00:15:00,600 Speaker 2: quicker than it is I and I, you know, I 288 00:15:01,160 --> 00:15:01,800 Speaker 2: made it look easy. 289 00:15:01,840 --> 00:15:03,080 Speaker 1: I had no frame of reference. 290 00:15:03,120 --> 00:15:06,800 Speaker 4: But look, I think the key to it was, you know, 291 00:15:06,840 --> 00:15:08,640 Speaker 4: and one of the things that was really important to 292 00:15:08,680 --> 00:15:12,280 Speaker 4: me in the process was to ensure that our vote 293 00:15:12,320 --> 00:15:17,160 Speaker 4: count at the council was a more decisive mandate. 294 00:15:18,200 --> 00:15:20,479 Speaker 1: And for those that follow along. 295 00:15:20,280 --> 00:15:22,360 Speaker 4: Know that we ended up at eleven to two vote 296 00:15:22,840 --> 00:15:25,880 Speaker 4: by far, the highest ever on a sports platform. And 297 00:15:25,920 --> 00:15:29,360 Speaker 4: part of that was a was a really concerted effort 298 00:15:29,400 --> 00:15:33,560 Speaker 4: to enroll every district council member in a way that 299 00:15:33,800 --> 00:15:37,920 Speaker 4: felt like the district was winning. And so that just 300 00:15:37,960 --> 00:15:41,280 Speaker 4: takes time. That just takes you going down. And you know, 301 00:15:41,280 --> 00:15:44,280 Speaker 4: I had a great team, and you know, we listened 302 00:15:44,320 --> 00:15:47,320 Speaker 4: to the community, we listened to council members. We really 303 00:15:47,360 --> 00:15:48,960 Speaker 4: tried to craft a deal. 304 00:15:49,280 --> 00:15:50,880 Speaker 1: That that made it. 305 00:15:51,520 --> 00:15:54,760 Speaker 4: A resounding victory for the district, and that I think 306 00:15:54,880 --> 00:15:57,600 Speaker 4: is why it went as well as it did. And 307 00:15:57,680 --> 00:16:01,400 Speaker 4: I think the commitment that job, the owners had, everybody 308 00:16:01,400 --> 00:16:03,600 Speaker 4: had in this project, the vision for it being much 309 00:16:03,640 --> 00:16:06,440 Speaker 4: more than just a stadium, but really, you know, a 310 00:16:06,520 --> 00:16:11,080 Speaker 4: community renaissance, which I think is exactly what's gonna happen 311 00:16:11,160 --> 00:16:13,520 Speaker 4: and how we're you know, approaching it. 312 00:16:15,080 --> 00:16:16,760 Speaker 1: That's why we got that eleven two vote. 313 00:16:16,800 --> 00:16:19,440 Speaker 4: And you know, it was not easy, a lot of 314 00:16:20,320 --> 00:16:22,840 Speaker 4: you know, late night back and forth. As I've learned, 315 00:16:22,880 --> 00:16:25,720 Speaker 4: people will negotiate until you say I'm done, and so 316 00:16:26,720 --> 00:16:28,840 Speaker 4: we had a lot of good conversations. But I think 317 00:16:28,880 --> 00:16:30,640 Speaker 4: we ended in a great place. I really do a 318 00:16:30,680 --> 00:16:34,680 Speaker 4: win win for everybody, and we are committed to living 319 00:16:34,720 --> 00:16:38,800 Speaker 4: into that. And things are moving in a great, you 320 00:16:38,840 --> 00:16:41,520 Speaker 4: know kind of cadence and right on pace with our schedule. 321 00:16:42,040 --> 00:16:45,600 Speaker 2: So the stadium itself looks like a monument. I wonder, 322 00:16:45,760 --> 00:16:48,600 Speaker 2: just from your perspective, if you're going to get everybody excited, 323 00:16:48,640 --> 00:16:50,760 Speaker 2: what is going to make this new stadium so special 324 00:16:50,840 --> 00:16:53,320 Speaker 2: besides the fact that when it's all said and done, 325 00:16:53,360 --> 00:16:55,960 Speaker 2: it will be the second most expensive stadium ever built 326 00:16:56,000 --> 00:16:58,920 Speaker 2: in the first, of course, is Sofi Stadium out in 327 00:16:59,040 --> 00:17:03,200 Speaker 2: Los Angeles, which is a five billion dollars excisive, expansive. 328 00:17:03,320 --> 00:17:03,720 Speaker 1: Yeah. 329 00:17:03,960 --> 00:17:06,520 Speaker 4: You know, look, I think we have a you know, 330 00:17:06,720 --> 00:17:10,199 Speaker 4: I tell people we have both a unique challenge but 331 00:17:10,280 --> 00:17:11,600 Speaker 4: also a little bit of a gift. 332 00:17:11,720 --> 00:17:11,880 Speaker 1: Right. 333 00:17:12,000 --> 00:17:16,120 Speaker 4: I don't think you could just build any stadium in Washington, 334 00:17:16,240 --> 00:17:19,119 Speaker 4: d C. I think you had to figure out a 335 00:17:19,160 --> 00:17:23,840 Speaker 4: way from a design standpoint to fit into the fabric 336 00:17:23,920 --> 00:17:24,680 Speaker 4: of the district. 337 00:17:24,880 --> 00:17:27,800 Speaker 1: And so for us, this. 338 00:17:27,840 --> 00:17:35,479 Speaker 4: Vision of creating yet another incredible monument in the city 339 00:17:35,600 --> 00:17:39,040 Speaker 4: and how it fit from a design standpoint, you know, 340 00:17:39,200 --> 00:17:43,800 Speaker 4: probably gave us a little bit narrower, you know, runway. 341 00:17:43,359 --> 00:17:44,160 Speaker 1: To focus on. 342 00:17:45,359 --> 00:17:47,919 Speaker 4: You know, we certainly had a lot of good dialogue 343 00:17:47,920 --> 00:17:51,000 Speaker 4: internally on a variety of different elements. But I think 344 00:17:51,040 --> 00:17:54,840 Speaker 4: we landed in a really great spot. I think what 345 00:17:55,000 --> 00:17:58,119 Speaker 4: people should be excited about it's, you know, this is 346 00:17:58,119 --> 00:17:59,520 Speaker 4: going to be the nation stadium. 347 00:17:59,560 --> 00:18:01,880 Speaker 1: It really is. That's our vision for it. That's where 348 00:18:01,920 --> 00:18:02,240 Speaker 1: we are. 349 00:18:03,200 --> 00:18:06,080 Speaker 4: I think I can tell you from the interest of 350 00:18:06,960 --> 00:18:10,960 Speaker 4: taking advantage of that stadium, there's no shortage of inbound 351 00:18:11,000 --> 00:18:14,480 Speaker 4: folks being excited about, whether we're talking Women's World Cup 352 00:18:14,520 --> 00:18:17,320 Speaker 4: in the future, or Super Bowls or other things. There's 353 00:18:17,359 --> 00:18:20,960 Speaker 4: a lot of operate Final fours, WrestleMania if. 354 00:18:20,800 --> 00:18:21,880 Speaker 1: That's on your agenda. 355 00:18:22,760 --> 00:18:26,439 Speaker 4: Never no, Yeah, big revenue maker for the city. But anyway, 356 00:18:26,520 --> 00:18:28,679 Speaker 4: these are all areas where I really think we're going 357 00:18:28,760 --> 00:18:34,439 Speaker 4: to be just an you know, an unmissible location for 358 00:18:34,520 --> 00:18:36,880 Speaker 4: people to come and have the biggest and the best 359 00:18:36,920 --> 00:18:41,280 Speaker 4: shows and programs in the country, while remembering that this 360 00:18:41,440 --> 00:18:45,399 Speaker 4: is going to be a football first stadium. You know, 361 00:18:45,480 --> 00:18:50,439 Speaker 4: we I've said this before. Our goals to make the 362 00:18:50,480 --> 00:18:53,720 Speaker 4: most terrifying stadium in the in the world to come 363 00:18:53,760 --> 00:18:54,159 Speaker 4: play in. 364 00:18:54,640 --> 00:18:57,080 Speaker 1: I want visiting I want visiting. 365 00:18:56,680 --> 00:19:01,320 Speaker 4: Teams to look at their schedule and circle the date 366 00:19:01,359 --> 00:19:04,240 Speaker 4: they're coming to d C and and be terrified by that. 367 00:19:04,640 --> 00:19:08,119 Speaker 4: You know, our fans, I want up close. I want loud. 368 00:19:08,240 --> 00:19:13,159 Speaker 4: I want you know, everybody in that building unified in 369 00:19:13,280 --> 00:19:17,679 Speaker 4: our shared goal to win championships. And so when we 370 00:19:17,800 --> 00:19:20,040 Speaker 4: design the stadium, that's how we're going to design it, 371 00:19:20,240 --> 00:19:23,600 Speaker 4: as we've signed, engineering it to be the loudest everything 372 00:19:23,640 --> 00:19:28,000 Speaker 4: all the way to the very well remembered and beloved 373 00:19:28,080 --> 00:19:32,480 Speaker 4: shaking seats from the original RFK, although, as I joke, 374 00:19:33,240 --> 00:19:36,879 Speaker 4: they will be structurally sound this time, not just wobbly 375 00:19:37,000 --> 00:19:40,760 Speaker 4: because they were wobbly. So we're gonna we're gonna engineer 376 00:19:40,880 --> 00:19:43,760 Speaker 4: that into the stadium. But but I think that's the 377 00:19:44,040 --> 00:19:47,240 Speaker 4: that's the the needle we're threading, right. I want, you know, 378 00:19:47,440 --> 00:19:49,480 Speaker 4: all of the great shows to come, I want all 379 00:19:49,520 --> 00:19:51,440 Speaker 4: of the great programs to be here. But when you 380 00:19:51,480 --> 00:19:53,280 Speaker 4: go in for a football game, I want you to 381 00:19:53,320 --> 00:19:55,879 Speaker 4: know that you're at the at Commander Stadium, just like 382 00:19:55,920 --> 00:19:57,960 Speaker 4: it was at RFK back in the day. 383 00:19:58,240 --> 00:20:01,239 Speaker 2: That's Washington Commander's President Mark Klaus speaking with me as 384 00:20:01,320 --> 00:20:05,359 Speaker 2: part of our Bloomberg Newsmakers fireside conversation before a live 385 00:20:05,440 --> 00:20:08,760 Speaker 2: audience from our Washington DC bureau. Stick around for more 386 00:20:08,800 --> 00:20:10,800 Speaker 2: of that conversation after a quick break. 387 00:20:11,080 --> 00:20:11,959 Speaker 3: I'm Miranda Williams. 388 00:20:12,000 --> 00:20:14,919 Speaker 2: You're listening to a special edition of The Bloomberg Business 389 00:20:15,000 --> 00:20:24,439 Speaker 2: of Sports from Bloomberg Radio. Thanks for listening to a 390 00:20:24,480 --> 00:20:27,680 Speaker 2: special edition of The Bloomberg Business of Sports. I'm Miranda Williams. 391 00:20:27,720 --> 00:20:30,920 Speaker 2: We're listening to a conversation I had with Washington Commander's 392 00:20:31,000 --> 00:20:35,160 Speaker 2: President Mark Klaus, from a Bloomberg Newsmakers fireside conversation recorded 393 00:20:35,240 --> 00:20:38,399 Speaker 2: live in front of an audience in our Washington DC bureau. 394 00:20:38,840 --> 00:20:42,159 Speaker 2: Let's take a listen to more of that conversation. I 395 00:20:42,200 --> 00:20:44,240 Speaker 2: do want to ask on a lot of the things 396 00:20:44,280 --> 00:20:46,920 Speaker 2: that is a big revenue generator for teams is often 397 00:20:47,000 --> 00:20:49,600 Speaker 2: naming rights, and there they come in different fashions. I 398 00:20:49,600 --> 00:20:53,160 Speaker 2: think of gha Field at Arrowhead Stadium and power field 399 00:20:53,160 --> 00:20:54,240 Speaker 2: at Mile High Stadium. 400 00:20:54,320 --> 00:20:55,320 Speaker 3: There's lambeau Field. 401 00:20:55,640 --> 00:20:58,720 Speaker 2: Even with new projects new Nissan Stadium with the Titans, 402 00:20:59,440 --> 00:21:03,080 Speaker 2: and I wonder whether that be with sponsors, with government officials, 403 00:21:03,080 --> 00:21:06,920 Speaker 2: have you had any conversations about the potential name of 404 00:21:07,160 --> 00:21:08,000 Speaker 2: this new stadium. 405 00:21:08,040 --> 00:21:11,199 Speaker 4: Sure, I think this is a as I said, this 406 00:21:11,359 --> 00:21:15,600 Speaker 4: is a little bit of this unique asset. And you know, 407 00:21:15,680 --> 00:21:18,600 Speaker 4: part of what makes naming rights I think so exciting 408 00:21:19,440 --> 00:21:22,960 Speaker 4: is there's just so many of those that are out there, 409 00:21:23,200 --> 00:21:31,200 Speaker 4: and in our particular case, you know, iconic design, iconic location, 410 00:21:32,920 --> 00:21:34,760 Speaker 4: and so I think we just we want to be 411 00:21:34,800 --> 00:21:36,840 Speaker 4: patient and do things the right way, and so we're 412 00:21:36,840 --> 00:21:39,840 Speaker 4: probably a little bit ahead of time of really understanding, 413 00:21:41,280 --> 00:21:44,159 Speaker 4: you know, how how we're going to fully approach it. 414 00:21:44,240 --> 00:21:47,679 Speaker 4: But generally speaking, I think we're you know, we're going 415 00:21:47,760 --> 00:21:50,520 Speaker 4: to have the right kinds of conversations and you know, 416 00:21:50,640 --> 00:21:54,320 Speaker 4: create opportunities for conversations with a variety of different folks, 417 00:21:54,359 --> 00:21:56,520 Speaker 4: and you know, try to end up in what we 418 00:21:56,560 --> 00:22:00,920 Speaker 4: think is the best potential for both the I think 419 00:22:01,040 --> 00:22:05,480 Speaker 4: the stadium itself and certainly the economics of it are significant. 420 00:22:05,560 --> 00:22:08,120 Speaker 4: I mean, you know, I think I talk a lot 421 00:22:08,160 --> 00:22:10,959 Speaker 4: about the idea of doing good and being good at 422 00:22:10,960 --> 00:22:14,359 Speaker 4: the same time and why that's very possible. And you know, 423 00:22:14,440 --> 00:22:17,600 Speaker 4: you're going to see us make a real concerted effort 424 00:22:17,760 --> 00:22:21,760 Speaker 4: in the development of that community around it. Our commitments 425 00:22:21,760 --> 00:22:23,680 Speaker 4: are clear, and we're going to follow through on it. 426 00:22:23,800 --> 00:22:26,560 Speaker 4: But we're also going to be you know, the most 427 00:22:26,560 --> 00:22:29,640 Speaker 4: successful business in the NFL, and and that's a clear goal, 428 00:22:29,680 --> 00:22:32,080 Speaker 4: and so we want to make sure that we're doing 429 00:22:32,119 --> 00:22:35,280 Speaker 4: all the right things to achieve both of those objectives too. 430 00:22:35,960 --> 00:22:37,760 Speaker 2: Maybe well, I don't know, maybe one or two more 431 00:22:37,760 --> 00:22:42,720 Speaker 2: on stadium. And here in Nashville, they have a Super 432 00:22:42,760 --> 00:22:44,800 Speaker 2: Bowl coming before the stadium is even open. So I wonder, 433 00:22:44,880 --> 00:22:49,119 Speaker 2: from your perspective, how quickly can DC host a Super Bowl. Well, 434 00:22:49,880 --> 00:22:52,040 Speaker 2: we certainly have our negotiations. 435 00:22:52,080 --> 00:22:54,479 Speaker 4: Now we are we clearly have an eye on that 436 00:22:54,560 --> 00:22:57,600 Speaker 4: as an objective. I think there's some really good milestones 437 00:22:57,600 --> 00:23:00,199 Speaker 4: ahead of us that that wet the drift. Yeah, we 438 00:23:00,280 --> 00:23:02,520 Speaker 4: need to knock the ball out of the park with 439 00:23:02,600 --> 00:23:05,879 Speaker 4: the draft, and I'm very convinced that we will. 440 00:23:07,680 --> 00:23:10,120 Speaker 1: Vince DC has been a great partner for us. 441 00:23:10,240 --> 00:23:14,520 Speaker 4: The commitment from the district in supporting it. 442 00:23:14,720 --> 00:23:15,720 Speaker 1: The playbook that. 443 00:23:15,720 --> 00:23:18,919 Speaker 4: The NFL has built over the years on drafts is 444 00:23:19,600 --> 00:23:23,240 Speaker 4: you know, second to none. And our commitment to make 445 00:23:23,320 --> 00:23:27,560 Speaker 4: this a really special experience for our fans, uh and 446 00:23:27,640 --> 00:23:30,040 Speaker 4: for our community. And I think that's going to be 447 00:23:30,080 --> 00:23:34,920 Speaker 4: a great test run if you will, you know. 448 00:23:36,359 --> 00:23:37,440 Speaker 3: I'm on your mind. 449 00:23:37,640 --> 00:23:38,760 Speaker 1: I'm praying to the. 450 00:23:38,800 --> 00:23:41,120 Speaker 4: Weather gods, by the way to make sure that we've 451 00:23:41,160 --> 00:23:43,720 Speaker 4: got nice through summer warm weather. 452 00:23:43,800 --> 00:23:45,480 Speaker 1: But regardless, we'll be ready to go. 453 00:23:46,119 --> 00:23:48,040 Speaker 4: But look, I think that's a great chance for us 454 00:23:48,040 --> 00:23:53,000 Speaker 4: to show and demonstrate our ability to host and and 455 00:23:53,119 --> 00:23:55,760 Speaker 4: UH and bring and deliver world class events. 456 00:23:55,880 --> 00:23:59,720 Speaker 3: Now, let's go back to northwest Field real quick, YEP. 457 00:24:00,080 --> 00:24:01,640 Speaker 3: Of course, a couple more seasons left there. 458 00:24:01,760 --> 00:24:04,520 Speaker 2: Josh has put over one hundred million dollars into upkeeping. 459 00:24:04,560 --> 00:24:06,439 Speaker 2: It is there any more money that's going to go 460 00:24:06,480 --> 00:24:08,040 Speaker 2: into the stadium, or do you think that one hundred 461 00:24:08,080 --> 00:24:11,760 Speaker 2: million dollars is enough to get to the new stadium. 462 00:24:12,000 --> 00:24:17,160 Speaker 4: I think you are the bigger pieces of our strategy 463 00:24:17,280 --> 00:24:20,280 Speaker 4: of rejuvenation for the stadium as well as our practice 464 00:24:20,320 --> 00:24:24,000 Speaker 4: facility as you as you've said, we've made a lot 465 00:24:24,000 --> 00:24:27,119 Speaker 4: of covered a lot of ground on that. I think 466 00:24:27,280 --> 00:24:30,320 Speaker 4: you know, it's a building that had some really clear 467 00:24:30,400 --> 00:24:33,040 Speaker 4: areas that we needed to invest in. So I would 468 00:24:33,080 --> 00:24:37,159 Speaker 4: say we've covered most of the bigger pieces. But I 469 00:24:37,200 --> 00:24:40,200 Speaker 4: know Josh has committed as we all are, to making 470 00:24:40,240 --> 00:24:43,120 Speaker 4: sure that fans experience in the current building. I say 471 00:24:43,119 --> 00:24:45,399 Speaker 4: this all the time to the team. You know, we 472 00:24:45,520 --> 00:24:49,200 Speaker 4: can't start looking to the new stadium and making excuses 473 00:24:49,440 --> 00:24:53,520 Speaker 4: for why the fans experience in the current building isn't great. 474 00:24:54,520 --> 00:24:56,920 Speaker 4: And you know, we can point out the limitations or 475 00:24:56,960 --> 00:24:59,600 Speaker 4: the things that we wish would have been in the 476 00:24:59,720 --> 00:25:04,399 Speaker 4: rige construction, or we can focus on, you know, what 477 00:25:04,520 --> 00:25:06,760 Speaker 4: we've got to work with and turn it into a 478 00:25:06,800 --> 00:25:09,399 Speaker 4: world class experience. And so I can tell you that 479 00:25:11,040 --> 00:25:13,359 Speaker 4: you know, from Josh on down, we are committed to 480 00:25:13,400 --> 00:25:16,040 Speaker 4: doing that. So if there are things that we discover 481 00:25:16,480 --> 00:25:18,240 Speaker 4: as we continue to go through the year, or there 482 00:25:18,240 --> 00:25:19,920 Speaker 4: are things that need to be fixed. We're going to 483 00:25:19,960 --> 00:25:23,919 Speaker 4: do that because you know, until the day we move on, 484 00:25:25,200 --> 00:25:29,239 Speaker 4: we are one hundred percent focused on making those you know, 485 00:25:29,760 --> 00:25:33,199 Speaker 4: the value for those tickets for the fans, the right value. 486 00:25:33,960 --> 00:25:37,080 Speaker 2: Moving on to international, the Commanders will play in London. 487 00:25:37,080 --> 00:25:40,040 Speaker 2: You also played in Madrid last year. Why are you 488 00:25:40,119 --> 00:25:43,040 Speaker 2: also invested into the international business? 489 00:25:43,080 --> 00:25:45,879 Speaker 3: And what upside do you see in that? 490 00:25:46,359 --> 00:25:48,119 Speaker 1: Well, you know, as a. 491 00:25:50,320 --> 00:25:52,200 Speaker 4: You know, always I tend to look at these things 492 00:25:52,200 --> 00:25:55,000 Speaker 4: through the lens of the business, which you know is. 493 00:25:54,960 --> 00:25:55,879 Speaker 3: Through our team president. 494 00:25:56,320 --> 00:26:00,160 Speaker 1: Clearly my background am I jump, but I will. 495 00:26:00,200 --> 00:26:02,280 Speaker 4: I will give a lot of credit to the NFL 496 00:26:03,720 --> 00:26:07,720 Speaker 4: for really having clarity on a strategic vision, and I'm 497 00:26:07,720 --> 00:26:12,280 Speaker 4: not sure that that's always as present in sports as 498 00:26:12,320 --> 00:26:15,359 Speaker 4: perhaps it should be. And when they look at the 499 00:26:15,400 --> 00:26:18,640 Speaker 4: future of the sport and when they think about what 500 00:26:18,760 --> 00:26:22,080 Speaker 4: is it going to take to sustain growth into the future, 501 00:26:23,480 --> 00:26:26,760 Speaker 4: you really have to start to open your purview and 502 00:26:26,840 --> 00:26:30,040 Speaker 4: think where does incremental fandom come from? How do we 503 00:26:30,119 --> 00:26:33,240 Speaker 4: really build the game outside of the United States where 504 00:26:33,240 --> 00:26:37,800 Speaker 4: we are so strong. The work that's been done to 505 00:26:37,840 --> 00:26:41,600 Speaker 4: create the power of the NFL. This is a stat 506 00:26:41,640 --> 00:26:46,359 Speaker 4: I love sharing because it's so fascinating. Of the top 507 00:26:46,560 --> 00:26:52,960 Speaker 4: twenty five watched live programs of twenty twenty five, how 508 00:26:53,000 --> 00:26:56,480 Speaker 4: many of them do we think we're NFL. 509 00:26:56,600 --> 00:26:58,199 Speaker 3: I'm not going to answer it because I know. 510 00:26:58,480 --> 00:26:59,680 Speaker 1: You know the answer. 511 00:27:00,800 --> 00:27:06,240 Speaker 4: If you're If you're saying half, you're wrong. It was 512 00:27:06,359 --> 00:27:09,439 Speaker 4: twenty three of twenty five. The two that beat it 513 00:27:09,880 --> 00:27:12,879 Speaker 4: We're State of the Union, which this crowd should appreciate 514 00:27:13,880 --> 00:27:16,200 Speaker 4: was State was State of the Union and the College 515 00:27:16,200 --> 00:27:19,920 Speaker 4: Football Championship. So those are the two things that put 516 00:27:20,000 --> 00:27:23,879 Speaker 4: more eyeballs on live content in the NFL. We have 517 00:27:24,200 --> 00:27:29,240 Speaker 4: an amazing product, but we're right now, you know, our 518 00:27:29,280 --> 00:27:33,160 Speaker 4: fandom is concentrated in the United States. So the strategy 519 00:27:33,200 --> 00:27:35,399 Speaker 4: of going to foreign markets and the way that the 520 00:27:35,480 --> 00:27:39,520 Speaker 4: league looks at it is teams have particular markets that 521 00:27:39,560 --> 00:27:44,760 Speaker 4: they are co responsible for development. Ours is UAE, and 522 00:27:44,800 --> 00:27:47,919 Speaker 4: then we also have the international schedule where we're playing 523 00:27:47,960 --> 00:27:53,000 Speaker 4: games in you know, major international cities and we're building 524 00:27:53,080 --> 00:27:56,000 Speaker 4: the brand while we're there. So this year we're the 525 00:27:56,080 --> 00:27:59,200 Speaker 4: home team in London and with that comes a lot 526 00:27:59,200 --> 00:28:02,800 Speaker 4: of responsibility for us to activate in London and really 527 00:28:02,880 --> 00:28:04,879 Speaker 4: turn the game into an event. 528 00:28:04,960 --> 00:28:07,040 Speaker 1: Last year was the first game played in Spain. 529 00:28:08,160 --> 00:28:10,320 Speaker 4: You know, we put eighty thousand fans in the real 530 00:28:10,359 --> 00:28:14,480 Speaker 4: Madrid stadium to watch football. So this is very much 531 00:28:14,720 --> 00:28:19,600 Speaker 4: a well thought through plan and approach to how the 532 00:28:19,720 --> 00:28:22,679 Speaker 4: game gets built on an international stage. 533 00:28:22,720 --> 00:28:24,040 Speaker 1: And I think. 534 00:28:23,920 --> 00:28:26,160 Speaker 4: The teams are really I know we are certainly bought 535 00:28:26,200 --> 00:28:29,800 Speaker 4: into that strategy and see it as what it is, 536 00:28:29,920 --> 00:28:33,639 Speaker 4: which is, you know, short term opportunity, but really more importantly, 537 00:28:34,160 --> 00:28:36,800 Speaker 4: a long term pipeline for fans for the future. 538 00:28:37,040 --> 00:28:39,320 Speaker 2: Two more, one of the tools that the NFL has 539 00:28:39,440 --> 00:28:42,000 Speaker 2: used to build fandom around the globe is flag football. 540 00:28:42,400 --> 00:28:45,120 Speaker 2: Earlier this year, the NFL struck a deal with Tomorrow Sports, 541 00:28:45,120 --> 00:28:47,400 Speaker 2: who is going to be the operator of a potential 542 00:28:47,480 --> 00:28:50,080 Speaker 2: men's and women's pro FLAC football league. And so I'll 543 00:28:50,120 --> 00:28:52,520 Speaker 2: ask you, we don't know the structure just yet. Would 544 00:28:52,520 --> 00:28:56,200 Speaker 2: the Commanders someday be interested in having pro men's in 545 00:28:56,240 --> 00:28:57,440 Speaker 2: women's black football team? 546 00:28:57,480 --> 00:29:01,400 Speaker 4: Well, I think that, you know, not just too dissimilar 547 00:29:01,480 --> 00:29:07,160 Speaker 4: from our international program. Flag is another major growth engine 548 00:29:07,200 --> 00:29:09,640 Speaker 4: for us, and I would say what I've been blown 549 00:29:09,680 --> 00:29:14,120 Speaker 4: away by is the level of commitment and traction on 550 00:29:14,280 --> 00:29:18,440 Speaker 4: girls flag football. This is bringing women into our sport 551 00:29:19,080 --> 00:29:23,000 Speaker 4: in a very active and empowered way. 552 00:29:23,600 --> 00:29:26,120 Speaker 2: If you all have not watched women's flag football, please 553 00:29:26,160 --> 00:29:26,680 Speaker 2: go on YouTube. 554 00:29:26,680 --> 00:29:27,800 Speaker 3: It is incredibly exciting. 555 00:29:27,880 --> 00:29:31,560 Speaker 4: College scholarship given to the flag a women's flag football 556 00:29:31,560 --> 00:29:35,720 Speaker 4: player and if you watched, the national championships were and 557 00:29:35,760 --> 00:29:40,160 Speaker 4: then World Championships were this past weekend outside of Indianapolis, 558 00:29:40,400 --> 00:29:45,960 Speaker 4: and we just recently were sanctioned as a high school 559 00:29:46,000 --> 00:29:50,520 Speaker 4: sport for women's flag in. 560 00:29:49,800 --> 00:29:51,360 Speaker 1: DC and Maryland. 561 00:29:51,800 --> 00:29:56,440 Speaker 4: Will We're working on Virginia and West Virginia now to 562 00:29:56,560 --> 00:29:58,800 Speaker 4: drive those as the next place is. 563 00:29:58,840 --> 00:30:03,520 Speaker 1: This is exploding and I think. 564 00:30:03,400 --> 00:30:06,680 Speaker 4: Part of the the reason is is because it's it's 565 00:30:06,800 --> 00:30:10,960 Speaker 4: yet another way to engage with the sport and flag 566 00:30:11,280 --> 00:30:14,720 Speaker 4: for a lot of whether it's your location, your you know, 567 00:30:14,760 --> 00:30:17,360 Speaker 4: what your parents may say or think, this is an 568 00:30:17,400 --> 00:30:21,160 Speaker 4: opportunity to start in the sport and grow and fandom. 569 00:30:21,200 --> 00:30:23,080 Speaker 4: We have the Olympics coming up, which will be yet 570 00:30:23,080 --> 00:30:27,160 Speaker 4: another I think flash point for flag and yeah, I 571 00:30:27,200 --> 00:30:30,640 Speaker 4: think again what we're trying to do is put long 572 00:30:30,760 --> 00:30:33,360 Speaker 4: term seeds in the ground that are going to continue 573 00:30:33,400 --> 00:30:36,840 Speaker 4: to build the excitement around the sport and the fan base. 574 00:30:36,880 --> 00:30:43,680 Speaker 4: And I think you know, certainly, our commitment to that is, 575 00:30:44,320 --> 00:30:47,520 Speaker 4: you know every bit, you know, locked arms with the NFL. 576 00:30:47,600 --> 00:30:50,160 Speaker 4: We believe it's a big idea and we'll see how 577 00:30:50,160 --> 00:30:53,880 Speaker 4: it unfolds. But I think you've got all the indications 578 00:30:53,880 --> 00:30:55,640 Speaker 4: that this is going to be a very big deal 579 00:30:55,680 --> 00:30:58,560 Speaker 4: and continue to be a significant area of growth. 580 00:30:59,000 --> 00:31:01,200 Speaker 2: Last one, and if we're sitting here in twenty thirty five, 581 00:31:01,320 --> 00:31:04,480 Speaker 2: what do you hope people say about the commanders in 582 00:31:04,560 --> 00:31:06,640 Speaker 2: terms of what they've accomplished. 583 00:31:06,080 --> 00:31:07,520 Speaker 3: Both on and off the field. 584 00:31:07,560 --> 00:31:09,800 Speaker 4: Well, I want them to have real have had real 585 00:31:09,840 --> 00:31:14,360 Speaker 4: fun at the parades. I'm guessing thirty five. 586 00:31:14,440 --> 00:31:17,800 Speaker 1: I mean, I don't know several of them by that. Yeah. 587 00:31:18,120 --> 00:31:22,760 Speaker 4: Now, look, I hope we're able to go have a 588 00:31:22,840 --> 00:31:26,680 Speaker 4: lovely dinner on a Wednesday night down by the stadium 589 00:31:26,800 --> 00:31:31,240 Speaker 4: in a terrific restaurant and you know, maybe experience a 590 00:31:31,280 --> 00:31:34,400 Speaker 4: walk through the park or you know, maybe there's a concert, 591 00:31:34,600 --> 00:31:36,960 Speaker 4: or you know, maybe there's something else down there. But 592 00:31:37,040 --> 00:31:40,400 Speaker 4: it's a community that's thriving, and that people that are 593 00:31:40,400 --> 00:31:43,840 Speaker 4: working in our stadium are living in those neighborhoods, and 594 00:31:43,880 --> 00:31:48,160 Speaker 4: that you know, this becomes really the jewel of the district. 595 00:31:49,040 --> 00:31:52,000 Speaker 4: I think that's very high on my list of like 596 00:31:52,160 --> 00:31:55,680 Speaker 4: what do I wish for in twenty thirty five? 597 00:31:55,920 --> 00:31:59,360 Speaker 1: Beyond the parades and looks as it work too. I 598 00:32:00,080 --> 00:32:01,800 Speaker 1: you know, I I measure a lot. 599 00:32:01,880 --> 00:32:04,360 Speaker 4: It's you know, this is a this is funny how 600 00:32:05,400 --> 00:32:08,280 Speaker 4: you know there are because you know clearly I'm a fan. 601 00:32:08,320 --> 00:32:10,800 Speaker 4: I wouldn't have come if I wasn't a fan of 602 00:32:11,320 --> 00:32:13,760 Speaker 4: the sport. But I do look at things very differently, 603 00:32:13,840 --> 00:32:14,720 Speaker 4: and one of them is. 604 00:32:16,240 --> 00:32:18,280 Speaker 1: I was. I won't tell you where I was, but 605 00:32:18,320 --> 00:32:18,600 Speaker 1: I was. 606 00:32:18,560 --> 00:32:22,080 Speaker 4: Two places this past weekend, and one of them I 607 00:32:22,080 --> 00:32:25,360 Speaker 4: didn't see any commander hats. I didn't see any command 608 00:32:25,440 --> 00:32:27,600 Speaker 4: or swag, and my family will tell. 609 00:32:27,440 --> 00:32:29,120 Speaker 1: You it irritated me. 610 00:32:29,560 --> 00:32:32,280 Speaker 4: I'm like, I love the Nats, but why is everyone 611 00:32:32,320 --> 00:32:33,240 Speaker 4: wearing that stuff? 612 00:32:33,280 --> 00:32:36,400 Speaker 1: Like it's somebody camp. It's time. It's no, but it's time. 613 00:32:36,880 --> 00:32:41,240 Speaker 4: But then I went to another location and with my son, 614 00:32:41,520 --> 00:32:43,760 Speaker 4: and there were tons of commander's. 615 00:32:43,520 --> 00:32:45,600 Speaker 1: Gear and swag, and I'm like, okay, that's good. 616 00:32:46,680 --> 00:32:47,360 Speaker 3: Chest pumped out. 617 00:32:47,440 --> 00:32:48,640 Speaker 1: Yeah. 618 00:32:48,680 --> 00:32:50,920 Speaker 4: And my kids hated because I'll walk right up and 619 00:32:50,960 --> 00:32:53,240 Speaker 4: thank them for like, you know, I'll walk up and 620 00:32:53,240 --> 00:32:55,400 Speaker 4: go hey, I'm really proud, like, hey, you like command 621 00:32:55,440 --> 00:32:55,680 Speaker 4: a fan. 622 00:32:55,720 --> 00:32:56,479 Speaker 3: All right, awesome. 623 00:32:57,080 --> 00:33:01,320 Speaker 1: Then they think I'm Dan Quinn and want to so this. 624 00:33:01,440 --> 00:33:04,280 Speaker 4: I'll just tell you this little tidbit that my whole 625 00:33:04,440 --> 00:33:07,840 Speaker 4: summer was made by this one moment Dan came up. 626 00:33:07,880 --> 00:33:10,800 Speaker 4: Because it's true, I get mistaken for Dan a lot. 627 00:33:10,880 --> 00:33:13,240 Speaker 4: I've had people stop me, like at the super Bowl 628 00:33:13,440 --> 00:33:16,800 Speaker 4: and they were like, man, your fourth down calls. Those 629 00:33:16,840 --> 00:33:19,720 Speaker 4: take guts, And of course my answer is I know 630 00:33:19,800 --> 00:33:20,080 Speaker 4: they do. 631 00:33:21,600 --> 00:33:23,480 Speaker 1: But for the first time he came up to me, 632 00:33:23,520 --> 00:33:25,760 Speaker 1: he goes, market's happened. I'm like, what he goes. 633 00:33:25,920 --> 00:33:30,600 Speaker 4: Someone mistakenly thought I was you about the stadium and 634 00:33:30,640 --> 00:33:34,080 Speaker 4: I'm like, yes, so you know, look the other thing. 635 00:33:34,160 --> 00:33:35,560 Speaker 4: I want to be out there and I want to 636 00:33:35,600 --> 00:33:38,280 Speaker 4: see kids. I want to see you know, people wearing 637 00:33:38,400 --> 00:33:41,840 Speaker 4: command or stuff with pride and proud of the team 638 00:33:41,920 --> 00:33:44,400 Speaker 4: for how we do things. But you know, also what 639 00:33:44,480 --> 00:33:47,120 Speaker 4: we're doing, and that's you know, that's a real goal. 640 00:33:47,400 --> 00:33:49,920 Speaker 4: I'll know we're in a good spot when I see that. 641 00:33:50,400 --> 00:33:51,800 Speaker 3: And then of course he didn't mention he wants to 642 00:33:51,840 --> 00:33:52,600 Speaker 3: host a super. 643 00:33:52,360 --> 00:33:56,440 Speaker 4: Bowl, which it just look whatever happened, Roger will make 644 00:33:56,480 --> 00:33:57,920 Speaker 4: the good, will make great decisions. 645 00:33:58,040 --> 00:34:01,360 Speaker 2: I know that that's Washington Command President Mark Laud speaking 646 00:34:01,400 --> 00:34:05,120 Speaker 2: with me as part of our Bloomberg Newsmakers fireside Conversation. 647 00:34:05,440 --> 00:34:07,800 Speaker 2: We spoke on stage in front of a live audience 648 00:34:07,840 --> 00:34:10,840 Speaker 2: in our Bloomberg Washington DC Bureau. And that does it 649 00:34:10,960 --> 00:34:13,920 Speaker 2: for this special edition of the Bloomberg Business of Sports. 650 00:34:14,000 --> 00:34:16,239 Speaker 2: If you want to hear more conversations like this one, 651 00:34:16,320 --> 00:34:19,480 Speaker 2: make sure you subscribe to the Bloomberg Business of Sports podcasts. 652 00:34:19,840 --> 00:34:22,680 Speaker 2: Find it on the Bloomberg Business app and all of 653 00:34:22,719 --> 00:34:24,640 Speaker 2: your favorite podcast platforms. 654 00:34:24,960 --> 00:34:25,960 Speaker 3: I'm Randa Williams. 655 00:34:26,040 --> 00:34:28,960 Speaker 2: You're listening to Bloomberg Business of Sports from Bloomberg Radio 656 00:34:29,080 --> 00:34:30,160 Speaker 2: around the world.