1 00:00:02,440 --> 00:00:06,760 Speaker 1: Bloomberg Audio Studios, Podcasts, radio News. 2 00:00:07,680 --> 00:00:10,240 Speaker 2: This is Bloomberg Business of Sports. 3 00:00:10,400 --> 00:00:13,200 Speaker 3: Business of Sports can be intimidating for hard for a 4 00:00:13,280 --> 00:00:14,200 Speaker 3: start to break into. 5 00:00:14,280 --> 00:00:17,279 Speaker 4: We really appreciate when our owners are actually there, you know, 6 00:00:17,360 --> 00:00:18,799 Speaker 4: with us through the journey. 7 00:00:18,480 --> 00:00:22,160 Speaker 1: Teams ours especially then very intentional to diversify at all 8 00:00:22,239 --> 00:00:22,960 Speaker 1: levels of the company. 9 00:00:23,079 --> 00:00:25,520 Speaker 4: Maybe we're in the golden years for the NFL and 10 00:00:25,640 --> 00:00:26,320 Speaker 4: college football. 11 00:00:26,400 --> 00:00:29,480 Speaker 5: Our demographic reach has continued to expande. 12 00:00:29,520 --> 00:00:33,160 Speaker 6: This is going to be really unlocking the streaming platform 13 00:00:33,240 --> 00:00:34,120 Speaker 6: for sports fans. 14 00:00:34,280 --> 00:00:36,839 Speaker 3: Sports evaluations are rising. We'll see when they peak. You 15 00:00:36,880 --> 00:00:39,519 Speaker 3: don't have to be the best in your sports to 16 00:00:39,560 --> 00:00:42,320 Speaker 3: make a whole ton of money. 17 00:00:42,360 --> 00:00:45,280 Speaker 2: Bloomberg Business of Sports from Bloomberg Radio. 18 00:00:47,360 --> 00:00:49,760 Speaker 3: This is the Bloomberg Business of Sports show, where we 19 00:00:49,800 --> 00:00:52,080 Speaker 3: explore the big money issues in the world of sports. 20 00:00:52,200 --> 00:00:55,280 Speaker 4: I'm Michael Laugh, I'm Scarlett Foo, and I'm Damian sas Hour. 21 00:00:55,480 --> 00:00:58,200 Speaker 3: On the lineup. Today it's all about the Olympics. The 22 00:00:58,240 --> 00:01:02,040 Speaker 3: twenty twenty four Summer Olympic in Paris is underway, kick 23 00:01:02,080 --> 00:01:05,640 Speaker 3: starting the first summer game since the COVID nineteen pandemic. 24 00:01:05,720 --> 00:01:08,479 Speaker 1: We'll chat with France's Minister for Small and medium enterprises, 25 00:01:08,640 --> 00:01:12,639 Speaker 1: trade crafts and tourism. She's Olivia Gregois on ticket demand 26 00:01:12,680 --> 00:01:15,080 Speaker 1: for the Olympic and Paralympic Games, as well as their 27 00:01:15,120 --> 00:01:16,640 Speaker 1: economic impact on the country. 28 00:01:16,840 --> 00:01:20,360 Speaker 7: The scene, you know, is like a character in Paris, 29 00:01:20,480 --> 00:01:23,240 Speaker 7: so I want to say, like a symbol that the 30 00:01:23,280 --> 00:01:27,760 Speaker 7: scene also is very happy to be ready welcome heats 31 00:01:27,880 --> 00:01:29,920 Speaker 7: and all the people for this Olympic game. 32 00:01:30,040 --> 00:01:34,640 Speaker 1: Plus US Olympic Committee CEO Sarah Hirschland on winning expectations 33 00:01:34,640 --> 00:01:37,520 Speaker 1: for Team USA and Paris, the growth of women's sports, 34 00:01:37,880 --> 00:01:40,720 Speaker 1: expansion of the Paralympic Games, as well as a preview 35 00:01:41,000 --> 00:01:43,679 Speaker 1: for the twenty twenty Summer Games in Los Angeles. 36 00:01:44,319 --> 00:01:47,560 Speaker 3: A full slate of Olympic conversations is on the way 37 00:01:47,720 --> 00:01:50,880 Speaker 3: on the Bloomberg business of sports. But first, we had 38 00:01:50,920 --> 00:01:54,320 Speaker 3: a startling development on Friday, ahead of the opening ceremonies, 39 00:01:54,600 --> 00:01:58,720 Speaker 3: trains too and from Paris, including an international line, were 40 00:01:58,760 --> 00:02:02,960 Speaker 3: disrupted by a series of fires, paralyzing several high speed 41 00:02:03,080 --> 00:02:06,840 Speaker 3: rail lines. Officials are investigating the series of incidents and 42 00:02:06,920 --> 00:02:09,480 Speaker 3: trying to get trains back up and running fully for 43 00:02:09,520 --> 00:02:12,960 Speaker 3: the games. It's a developing story we'll be watching throughout 44 00:02:13,000 --> 00:02:16,720 Speaker 3: the weekend. Find the latest at Bloomberg dot Com and 45 00:02:16,880 --> 00:02:20,680 Speaker 3: with Bloomberg News now available on Apple, Spotify, and your 46 00:02:20,720 --> 00:02:24,760 Speaker 3: favorite podcast platforms Now, we turn to the first of 47 00:02:25,000 --> 00:02:29,280 Speaker 3: several Olympic themed conversations. We learned this week that the 48 00:02:29,320 --> 00:02:32,799 Speaker 3: International Olympic Committee picked Salt Lake City to host the 49 00:02:32,840 --> 00:02:36,280 Speaker 3: twenty thirty four Winter Games. To dive into this and more, 50 00:02:36,360 --> 00:02:39,960 Speaker 3: we welcome Bloomberg News reporter Hugo Miller. He joins us 51 00:02:39,960 --> 00:02:44,880 Speaker 3: from Paris, along with special guest host Bloomberg Originals correspondent 52 00:02:44,960 --> 00:02:45,800 Speaker 3: Vanessa Perdomo. 53 00:02:46,080 --> 00:02:47,120 Speaker 8: Thank you great to be here. 54 00:02:47,480 --> 00:02:52,280 Speaker 3: Let's start with the news that Salt Lake City, well, 55 00:02:52,400 --> 00:02:55,280 Speaker 3: let's put it in quotes, get a chance to, let's say, 56 00:02:55,320 --> 00:02:58,960 Speaker 3: redeem itself because they're going to get the games up 57 00:02:59,040 --> 00:03:00,480 Speaker 3: coming up in twenty three thirty four. 58 00:03:00,680 --> 00:03:04,040 Speaker 8: Indeed, for those of us old enough to remember two 59 00:03:04,080 --> 00:03:08,240 Speaker 8: thousand and two, and I certainly I'll admit one of them, 60 00:03:09,320 --> 00:03:12,440 Speaker 8: it was a pretty scandalous time in the run up 61 00:03:12,440 --> 00:03:16,520 Speaker 8: to those Olympics. Allegations never formally proven in court, but 62 00:03:16,600 --> 00:03:22,240 Speaker 8: allegations of bribery of IOC officials, whining and dining them 63 00:03:22,280 --> 00:03:27,440 Speaker 8: and some to secure the Games was a real black 64 00:03:27,520 --> 00:03:31,760 Speaker 8: mark on the bid. And really hung over Salt Lake, 65 00:03:31,800 --> 00:03:34,120 Speaker 8: which went on to host the Games in two thousand 66 00:03:34,120 --> 00:03:37,480 Speaker 8: and two. So this is their chance who redeemed themselves. 67 00:03:37,480 --> 00:03:41,360 Speaker 6: As you said, also before Salt Lake City hosts the 68 00:03:41,760 --> 00:03:43,600 Speaker 6: Winter Games will then me in the French Alps in 69 00:03:43,640 --> 00:03:47,560 Speaker 6: twenty thirty, So France is getting a chance again only 70 00:03:47,640 --> 00:03:50,360 Speaker 6: six years after this Paris Olympics. 71 00:03:50,680 --> 00:03:51,800 Speaker 5: What do you think it says. 72 00:03:51,600 --> 00:03:54,760 Speaker 6: About them continuingly putting their hat in the ring. 73 00:03:55,000 --> 00:03:58,680 Speaker 8: Well, Emanuel Macron showed up at the IOC meetings today 74 00:03:58,720 --> 00:04:00,840 Speaker 8: and he looked pretty pleased, to be honest, I think 75 00:04:00,840 --> 00:04:02,840 Speaker 8: he was glad to get a break from all the 76 00:04:02,880 --> 00:04:05,840 Speaker 8: political negotiations as he tries to form a government and 77 00:04:05,960 --> 00:04:09,440 Speaker 8: was quite happy to deal in some of the fluffier stuff, 78 00:04:09,480 --> 00:04:10,000 Speaker 8: so to speak. 79 00:04:10,200 --> 00:04:11,120 Speaker 5: Of the Olympics. 80 00:04:11,360 --> 00:04:14,680 Speaker 8: I think what it shows, and we talked about this 81 00:04:15,120 --> 00:04:18,840 Speaker 8: in the Big Take, is that for years the IOC 82 00:04:19,600 --> 00:04:21,560 Speaker 8: was on a sort of a road show to some 83 00:04:21,640 --> 00:04:27,440 Speaker 8: pretty authoritarian countries including Russia and China and then democracies, 84 00:04:27,520 --> 00:04:30,520 Speaker 8: but not necessarily in the sweet spot of the European 85 00:04:30,600 --> 00:04:33,880 Speaker 8: or US time zone. And what happened is you had 86 00:04:33,960 --> 00:04:37,200 Speaker 8: games that just kind of drifted off the radar of 87 00:04:37,880 --> 00:04:41,040 Speaker 8: sports fans or the last sports fans with a really 88 00:04:41,080 --> 00:04:43,400 Speaker 8: kind of a bad taste in their mouth when you 89 00:04:43,520 --> 00:04:49,520 Speaker 8: have regimes like Beijing and Moscow spending literally tens of billions. 90 00:04:49,560 --> 00:04:54,000 Speaker 8: We're looking forty to fifty billion on these games. So 91 00:04:54,560 --> 00:04:57,640 Speaker 8: what the IOC has done is, and it's no coincidence, 92 00:04:57,720 --> 00:05:00,400 Speaker 8: has decided to sort of play it safe and we 93 00:05:00,560 --> 00:05:05,520 Speaker 8: now have a run of absolutely stunning cities and regions 94 00:05:05,880 --> 00:05:10,039 Speaker 8: from Paris to Milan, to the French Alps, to la 95 00:05:10,720 --> 00:05:14,080 Speaker 8: to the seaside city of Brisbane and then Salt Lake, 96 00:05:14,480 --> 00:05:17,000 Speaker 8: all hosting the games back to back to back to 97 00:05:17,080 --> 00:05:20,000 Speaker 8: back in what I think the IOC is hoping is 98 00:05:20,040 --> 00:05:23,440 Speaker 8: a much safer, scandal free set of Olympics. 99 00:05:23,600 --> 00:05:25,080 Speaker 4: You're going to be one of the two million tourists 100 00:05:25,080 --> 00:05:27,520 Speaker 4: from abroad. You know, Paris is expected to receive as 101 00:05:27,560 --> 00:05:30,920 Speaker 4: many as fifteen million visitors through the course of this Olympics. 102 00:05:31,480 --> 00:05:35,760 Speaker 4: And I'm curious what you know your thoughts are regarding 103 00:05:35,800 --> 00:05:39,200 Speaker 4: things such as COVID, because what I'm hearing, certainly after 104 00:05:39,240 --> 00:05:40,880 Speaker 4: the Tour de France, which is also there, and all 105 00:05:40,880 --> 00:05:42,960 Speaker 4: the visitors they received on the back of that, we 106 00:05:43,000 --> 00:05:45,800 Speaker 4: saw some spikes and cases there as well as here 107 00:05:45,839 --> 00:05:48,840 Speaker 4: in the US. And you know, are you concerned with 108 00:05:49,279 --> 00:05:51,839 Speaker 4: COVID outbreaks with things of that nature. I mean, I'm 109 00:05:51,839 --> 00:05:53,000 Speaker 4: just curious to hear your thoughts there. 110 00:05:53,440 --> 00:05:54,719 Speaker 8: I certainly don't want to get it, and I don't 111 00:05:54,720 --> 00:05:56,280 Speaker 8: know if I have much to say about it. I mean, 112 00:05:56,320 --> 00:05:59,400 Speaker 8: to be honest, I think in terms of the kind 113 00:05:59,440 --> 00:06:03,240 Speaker 8: of secure, whether you're talking terrorism or biosecurity, I think 114 00:06:03,360 --> 00:06:08,240 Speaker 8: COVID Whereas in Tokyo it was obviously the overriding concern, 115 00:06:08,320 --> 00:06:11,000 Speaker 8: both in Tokyo twenty twenty, which was delayed by a year, 116 00:06:11,000 --> 00:06:13,520 Speaker 8: and then Beijing twenty twenty two, which were essentially held 117 00:06:13,560 --> 00:06:18,279 Speaker 8: in a giant pandemic bubble. But to be honest, I 118 00:06:18,320 --> 00:06:21,200 Speaker 8: haven't heard anyone talking about that in the context of Paris. 119 00:06:21,560 --> 00:06:24,920 Speaker 3: One thing about this and the last time I think 120 00:06:25,040 --> 00:06:27,039 Speaker 3: the Olympics made a profit, I think it was the 121 00:06:27,080 --> 00:06:30,160 Speaker 3: only time was way back in nineteen eighty four with 122 00:06:30,240 --> 00:06:35,039 Speaker 3: the Los Angeles Games. What are the chances that Paris 123 00:06:35,320 --> 00:06:37,560 Speaker 3: can make a profit with these games? 124 00:06:37,560 --> 00:06:40,080 Speaker 8: You go, well, you're right, Peter Yubrov did it, and 125 00:06:40,080 --> 00:06:42,520 Speaker 8: no one has done it since. By the way, we 126 00:06:42,560 --> 00:06:44,839 Speaker 8: did reach out to him for an interview when we 127 00:06:44,880 --> 00:06:46,680 Speaker 8: did the big take, he declined. 128 00:06:47,279 --> 00:06:52,839 Speaker 9: But the goal is actually to essentially deliver a balanced budget, 129 00:06:52,960 --> 00:06:56,480 Speaker 9: which is to deliver not a profit per se. Because 130 00:06:56,520 --> 00:06:59,880 Speaker 9: the Paris organizer, the CEO of the Paris Organizing Committee, 131 00:07:00,080 --> 00:07:02,440 Speaker 9: et Tien Tobos told me, you know, we're not in 132 00:07:02,440 --> 00:07:05,200 Speaker 9: the business of running a business. We're not actually out 133 00:07:05,200 --> 00:07:08,680 Speaker 9: to make a profit. We're just there to make sure. 134 00:07:08,480 --> 00:07:13,320 Speaker 8: That we deliver an efficient games and not make not 135 00:07:13,400 --> 00:07:15,840 Speaker 8: make a penny more so to speak, because it isn't 136 00:07:15,880 --> 00:07:19,320 Speaker 8: a business with shareholders ultimately. But they've got a budget 137 00:07:19,320 --> 00:07:23,920 Speaker 8: of two point sorry, four point seven billion dollars ninety 138 00:07:23,920 --> 00:07:28,080 Speaker 8: eight percent they say to be delivered through the private sector, 139 00:07:28,320 --> 00:07:30,160 Speaker 8: and then they're spending another four point eight or at 140 00:07:30,200 --> 00:07:32,440 Speaker 8: least a French state is spending another four point eight 141 00:07:32,440 --> 00:07:35,840 Speaker 8: billion on infrastructure, which is still four point eight million 142 00:07:35,880 --> 00:07:37,520 Speaker 8: in taxpayer money at the end of the day, but 143 00:07:37,760 --> 00:07:40,760 Speaker 8: it does look like it's going to be spent on 144 00:07:41,160 --> 00:07:47,080 Speaker 8: much worthier issues like inner city swimming pool and sports facilities, 145 00:07:47,720 --> 00:07:50,360 Speaker 8: rather than the kind of forty to fifty billion dollar 146 00:07:50,400 --> 00:07:53,240 Speaker 8: boondoggle that we saw in southern Russia. 147 00:07:53,320 --> 00:07:56,280 Speaker 10: So the other interesting thing about you know what they're 148 00:07:56,280 --> 00:07:59,240 Speaker 10: building up the budget and everything like that, and Damian 149 00:07:59,320 --> 00:08:01,760 Speaker 10: bringing up how many people are planning to go is 150 00:08:01,800 --> 00:08:04,640 Speaker 10: that it's actually seemingly less than. 151 00:08:04,480 --> 00:08:07,600 Speaker 6: What they were expecting, right. I mean, Jenny Chay, our reporter, 152 00:08:07,720 --> 00:08:10,200 Speaker 6: had a story out a couple of days ago, reporting 153 00:08:10,680 --> 00:08:15,240 Speaker 6: that hotel prices have nearly been slashed in half from 154 00:08:15,280 --> 00:08:15,960 Speaker 6: the peak price. 155 00:08:16,360 --> 00:08:17,280 Speaker 8: Why do you think you know? 156 00:08:17,360 --> 00:08:20,560 Speaker 6: People are people actively avoiding parish right now? 157 00:08:20,800 --> 00:08:22,559 Speaker 5: In general, people are staying away. 158 00:08:22,840 --> 00:08:25,320 Speaker 8: I tried to set up some meetings unrelated to the Olympics, 159 00:08:25,400 --> 00:08:28,200 Speaker 8: and everyone just said to be involved with no, sorry, 160 00:08:28,240 --> 00:08:30,160 Speaker 8: I can't help you. We're not here, we're not home. 161 00:08:30,280 --> 00:08:32,520 Speaker 8: Everyone is fleeing the city. 162 00:08:32,920 --> 00:08:33,800 Speaker 5: So I don't know. 163 00:08:34,080 --> 00:08:37,720 Speaker 8: I think there is an influx coming, but I don't 164 00:08:37,840 --> 00:08:40,840 Speaker 8: think that it's going to be the influx that we've 165 00:08:40,880 --> 00:08:43,960 Speaker 8: perhaps seen in other cities, because I think people just 166 00:08:44,360 --> 00:08:49,280 Speaker 8: fear being overwhelmed or feeling overwhelmed by by crowds and 167 00:08:49,320 --> 00:08:50,440 Speaker 8: what is ultimately kind of. 168 00:08:50,440 --> 00:08:53,200 Speaker 5: A compact city. It doesn't sprawl like la or London. 169 00:08:53,360 --> 00:08:53,520 Speaker 5: You go. 170 00:08:53,640 --> 00:08:55,760 Speaker 4: I'm just looking back at Salt Lake City and they're 171 00:08:55,800 --> 00:08:58,520 Speaker 4: pitched to the IOC in terms of holding the twenty 172 00:08:58,559 --> 00:09:01,800 Speaker 4: thirty four Olympics and the operating budget they're forecasting, you know, 173 00:09:01,880 --> 00:09:05,040 Speaker 4: in twenty thirty four or to hold it is something 174 00:09:05,040 --> 00:09:06,640 Speaker 4: on the order of two point eight billion. Now, we 175 00:09:06,760 --> 00:09:09,800 Speaker 4: know Salt Lake City held the Olympics in two thousand 176 00:09:09,800 --> 00:09:12,760 Speaker 4: and two, so there's some existing infrastructure there. But the 177 00:09:12,800 --> 00:09:16,880 Speaker 4: operating budget twenty two years ago was two point seven 178 00:09:16,920 --> 00:09:19,600 Speaker 4: two point eight billion. So with inflation and all these 179 00:09:19,600 --> 00:09:21,320 Speaker 4: things that have gone on over the better part of 180 00:09:21,320 --> 00:09:24,720 Speaker 4: the last two decades, is that an accurate assessment of 181 00:09:24,760 --> 00:09:27,240 Speaker 4: the cost to hold the Olympics in Salt Lake City 182 00:09:27,360 --> 00:09:29,520 Speaker 4: some you know, ten years into the future, that it's 183 00:09:29,520 --> 00:09:31,240 Speaker 4: going to be the same as it was, you know, 184 00:09:31,280 --> 00:09:32,120 Speaker 4: in two thousand and two. 185 00:09:32,160 --> 00:09:36,040 Speaker 8: Is that realistic? The diplomatic answer would be, we'll see. 186 00:09:36,360 --> 00:09:39,240 Speaker 8: But I'm not an economist. But as you say, I 187 00:09:39,280 --> 00:09:42,160 Speaker 8: mean with inflation, two point eight billion is as you 188 00:09:42,200 --> 00:09:45,520 Speaker 8: say in two thousand and two terms, probably closer to 189 00:09:45,559 --> 00:09:48,360 Speaker 8: four or five billion today. I think what they're saying 190 00:09:48,400 --> 00:09:51,440 Speaker 8: is they're essentially going to deliver a budget that's a 191 00:09:51,520 --> 00:09:53,840 Speaker 8: half to two thirds of what it was back then 192 00:09:54,040 --> 00:09:56,880 Speaker 8: if you do the mask, and I think it's because 193 00:09:56,880 --> 00:10:04,319 Speaker 8: they reiterated they are not building any new permanent stadia facilities, infrastructure. 194 00:10:05,040 --> 00:10:08,360 Speaker 8: It's all going to be existing infrastructure, reused from two 195 00:10:08,400 --> 00:10:14,199 Speaker 8: thousand and two or built in the intervening two decades 196 00:10:14,320 --> 00:10:16,520 Speaker 8: just to cater to ski tourists. 197 00:10:17,240 --> 00:10:19,720 Speaker 6: And that's the recurring theme that we're seeing with bids 198 00:10:19,800 --> 00:10:21,160 Speaker 6: right now right it's that. 199 00:10:21,000 --> 00:10:25,560 Speaker 11: They are looking to do mostly no build games completely. 200 00:10:26,080 --> 00:10:28,000 Speaker 8: And then the other part of the Salt Lake City 201 00:10:28,040 --> 00:10:33,440 Speaker 8: it will be temporary stadia, so you know, the snowboarding events, 202 00:10:33,520 --> 00:10:36,679 Speaker 8: the half pipe, a lot of stuff will be just 203 00:10:37,080 --> 00:10:39,840 Speaker 8: put up in the months before and then dismantled, just 204 00:10:39,880 --> 00:10:41,240 Speaker 8: like we're seeing in Paris. 205 00:10:40,920 --> 00:10:42,439 Speaker 5: You know the beach volleyball at the base of the 206 00:10:42,480 --> 00:10:43,120 Speaker 5: Eiffel Tower. 207 00:10:43,640 --> 00:10:45,880 Speaker 8: Purists are not going to settle for a beach volleyball 208 00:10:45,920 --> 00:10:48,920 Speaker 8: permanent stadium at the base of their beloved Eiffel Tower. 209 00:10:49,160 --> 00:10:52,360 Speaker 8: So that's just a temporary facility that will be dismantled 210 00:10:52,960 --> 00:10:57,120 Speaker 8: day one after the games. And that's thankfully, certainly from 211 00:10:57,120 --> 00:11:01,000 Speaker 8: the perspective taxpayers. That's the mantra go forward, and it's 212 00:11:01,040 --> 00:11:02,560 Speaker 8: even led to I don't want to go into the 213 00:11:02,559 --> 00:11:05,240 Speaker 8: details unless you want me to, but it's one of 214 00:11:05,280 --> 00:11:09,160 Speaker 8: the fascinating flash points that Milan, which is the next 215 00:11:09,200 --> 00:11:13,600 Speaker 8: Winter host is potentially facing with the IOC all. 216 00:11:13,559 --> 00:11:17,280 Speaker 3: Right, stupid question number twelve forty seven B. And I've 217 00:11:17,320 --> 00:11:20,360 Speaker 3: been thinking about this, knowing we're going to interview you. 218 00:11:20,800 --> 00:11:24,160 Speaker 3: Why in the world do these athletes, some of these 219 00:11:24,200 --> 00:11:28,360 Speaker 3: poor athletes have to sleep on cardboard beds. If I 220 00:11:28,520 --> 00:11:30,800 Speaker 3: tried to sleep on a cardboard bed, that thing would 221 00:11:30,840 --> 00:11:34,960 Speaker 3: be as flat as a book. I never understood that 222 00:11:35,040 --> 00:11:36,280 Speaker 3: about the cardboard bed. 223 00:11:36,400 --> 00:11:40,720 Speaker 8: Why oh you got me there. I would hope that 224 00:11:41,080 --> 00:11:43,720 Speaker 8: they've been tested for some level of comfort, because if 225 00:11:43,760 --> 00:11:47,160 Speaker 8: I had flown long haul, whether economy or Lebron James, 226 00:11:47,200 --> 00:11:49,120 Speaker 8: and I'm flying on my own private jet, I. 227 00:11:49,160 --> 00:11:51,839 Speaker 5: Would hope that I would get a decent sleep. 228 00:11:51,880 --> 00:11:53,880 Speaker 8: At the other end, I can't say I've ever tried 229 00:11:53,920 --> 00:11:54,720 Speaker 8: one of these though. 230 00:11:56,480 --> 00:11:59,719 Speaker 5: Weirdly, you don't actually hear athletes. 231 00:12:01,000 --> 00:12:05,440 Speaker 8: Grousing about them online or publicly, or maybe they do 232 00:12:05,520 --> 00:12:06,319 Speaker 8: what I missed it. 233 00:12:06,480 --> 00:12:10,320 Speaker 11: But the funny thing is you have athletes who this 234 00:12:10,360 --> 00:12:14,200 Speaker 11: is just their normal, like you know, lower level tennis 235 00:12:14,200 --> 00:12:18,080 Speaker 11: players or track athletes who aren't millionaires. 236 00:12:18,240 --> 00:12:20,600 Speaker 6: This is this is fine to them. But yeah, someone 237 00:12:20,600 --> 00:12:23,040 Speaker 6: like the Lebron James or anyone on tam USA basketball 238 00:12:23,080 --> 00:12:26,520 Speaker 6: really millionaires sleeping on these cardboard bus is funny. 239 00:12:26,960 --> 00:12:31,280 Speaker 3: Now you go. Miller, our own Bloomberg News reporter. By 240 00:12:31,320 --> 00:12:34,920 Speaker 3: the way, check out his recent article on Big Take 241 00:12:35,320 --> 00:12:37,480 Speaker 3: because it is very good. Hugo. Thank you Servi for 242 00:12:37,559 --> 00:12:40,280 Speaker 3: joining us on the Bloomberg Business and Sports. Thank you 243 00:12:40,800 --> 00:12:44,040 Speaker 3: Up next on the show, Francis Minister for Small and 244 00:12:44,320 --> 00:12:49,360 Speaker 3: Medium Enterprises, Trade Crafts and Tourism Olivia, Greg wa on 245 00:12:49,600 --> 00:12:53,640 Speaker 3: hol Paris has prepared for the Olympic Games. I'm Michael 246 00:12:53,679 --> 00:12:57,560 Speaker 3: Barr with Scarlett Poo and Damian Sassaur. You're listening to 247 00:12:57,640 --> 00:13:01,319 Speaker 3: the Bloomberg Business of Sports from Bloomberg. Right around the world. 248 00:13:05,160 --> 00:13:09,720 Speaker 2: You're listening to Bloomberg Business of Sports from Bloomberg Radio. 249 00:13:10,720 --> 00:13:13,120 Speaker 3: This is the Bloomberg Business of Sports show, where we 250 00:13:13,160 --> 00:13:15,679 Speaker 3: explore the big money issues in the world of sports. 251 00:13:15,720 --> 00:13:20,160 Speaker 3: I'm Michael Barr along with scarlettfu and Damian Sasauer. Hosting 252 00:13:20,200 --> 00:13:24,719 Speaker 3: the Olympic Games could potentially generate powerful economic benefits. It 253 00:13:24,720 --> 00:13:28,000 Speaker 3: can enable a region and the country to develop their workforce, 254 00:13:28,480 --> 00:13:33,120 Speaker 3: enhance the number of volunteers, and greatly boost tourism, their 255 00:13:33,240 --> 00:13:37,200 Speaker 3: business sector and in some ways their global profile. For 256 00:13:37,360 --> 00:13:40,600 Speaker 3: more on how the Olympic and Paralympic Games will impact 257 00:13:40,640 --> 00:13:45,720 Speaker 3: Paris's economic outlook. We're joined by Olivier Guegua, France's Minister 258 00:13:45,920 --> 00:13:50,439 Speaker 3: for Small and Medium Enterprises, Trade Crafts and Tourism. 259 00:13:50,720 --> 00:13:53,160 Speaker 7: Thank you very much, very happy to share this moment 260 00:13:53,240 --> 00:13:54,479 Speaker 7: with Bloomberg Sports. 261 00:13:54,720 --> 00:13:57,760 Speaker 3: Well, thank you very much for joining us, and again 262 00:13:57,920 --> 00:14:03,319 Speaker 3: a salute to you guys, because now the torch has 263 00:14:03,360 --> 00:14:05,400 Speaker 3: been in Paris for a little bit now. 264 00:14:05,360 --> 00:14:06,400 Speaker 5: Yeah, exactly. 265 00:14:07,320 --> 00:14:11,640 Speaker 7: The torch relay was an amazing moment for French people. 266 00:14:12,080 --> 00:14:18,439 Speaker 7: It was a very popular celebration from Marseilles to Paris. 267 00:14:18,559 --> 00:14:21,080 Speaker 7: All the way of the torch was the way of 268 00:14:21,240 --> 00:14:25,320 Speaker 7: joy and exaltation around sports with a lot of people 269 00:14:25,520 --> 00:14:28,360 Speaker 7: and a lot of child and it was full of joy, 270 00:14:28,400 --> 00:14:32,200 Speaker 7: a nice moments. And I'm sure that the Olympic Games 271 00:14:32,240 --> 00:14:38,200 Speaker 7: will be a very important open air worldwide stadium. And 272 00:14:38,240 --> 00:14:42,760 Speaker 7: you know, the French people, we get some reputation and 273 00:14:42,800 --> 00:14:48,040 Speaker 7: we get the reputation for grumbling and myself included, and 274 00:14:48,680 --> 00:14:52,680 Speaker 7: there was some grumbling moment before the Olympic Games. But 275 00:14:52,800 --> 00:14:57,680 Speaker 7: I want to share with you that French people today 276 00:14:57,720 --> 00:15:00,560 Speaker 7: they can stand to welcome the world, world and to 277 00:15:00,640 --> 00:15:04,480 Speaker 7: welcome the Olympic Games, and we're ready to open and 278 00:15:04,560 --> 00:15:08,240 Speaker 7: to enjoy those games. We are waiting for a lot 279 00:15:08,280 --> 00:15:11,840 Speaker 7: of people because we have passed around the most important 280 00:15:11,920 --> 00:15:18,200 Speaker 7: tickets sale. We have saled more than eight points seven 281 00:15:18,320 --> 00:15:20,560 Speaker 7: million Olympic tickets. 282 00:15:20,440 --> 00:15:23,479 Speaker 5: And it's a very very good news for us. 283 00:15:23,320 --> 00:15:25,840 Speaker 1: Well as New Yorkers. We can all relate to the grumbling, 284 00:15:25,920 --> 00:15:29,080 Speaker 1: because I think that happens pretty frequently on this side 285 00:15:29,120 --> 00:15:32,560 Speaker 1: as well. I want to ask you about the demand 286 00:15:32,640 --> 00:15:35,600 Speaker 1: for those tickets. Obviously, any one of us who have 287 00:15:35,720 --> 00:15:39,200 Speaker 1: gone to Paris in the summer know that the locals 288 00:15:39,400 --> 00:15:43,040 Speaker 1: kind of vacate the city during the summer. What is 289 00:15:43,080 --> 00:15:47,840 Speaker 1: the demand for tickets from local Parisians, the French themselves, 290 00:15:47,920 --> 00:15:52,720 Speaker 1: versus those from America, or from the rest of Europe 291 00:15:52,840 --> 00:15:53,800 Speaker 1: or from Asia. 292 00:15:53,840 --> 00:15:57,480 Speaker 7: Well, I get two main figures to share with you. 293 00:15:57,560 --> 00:16:00,760 Speaker 7: The first one is that we are waiting. We hope 294 00:16:00,800 --> 00:16:06,400 Speaker 7: to receive a proximately fifteen million visitors. On those fifteen 295 00:16:06,480 --> 00:16:12,280 Speaker 7: million visitors for the Olympic and Para Olympic Games, most 296 00:16:12,360 --> 00:16:17,600 Speaker 7: of them will be French people eighty percent, approximately ninety 297 00:16:17,720 --> 00:16:21,680 Speaker 7: percent perhaps, and most of the tourists will come all 298 00:16:21,720 --> 00:16:25,640 Speaker 7: around from France to share the Olympic Games. There was 299 00:16:26,000 --> 00:16:28,920 Speaker 7: a second There is a second figure interesting to share 300 00:16:28,920 --> 00:16:33,560 Speaker 7: with you is that we managed to get eight point 301 00:16:33,720 --> 00:16:38,560 Speaker 7: seven million Olympic tickets which have been sold, and of 302 00:16:38,600 --> 00:16:44,640 Speaker 7: the three million tickets purchased abroad, fifteen percent where both 303 00:16:44,920 --> 00:16:49,080 Speaker 7: in the United States, make it the second largest customer 304 00:16:49,160 --> 00:16:53,400 Speaker 7: base for these Olympic Games, behind the British. So we 305 00:16:53,440 --> 00:16:58,120 Speaker 7: are happy to welcome French people, but also a lot 306 00:16:58,160 --> 00:17:01,720 Speaker 7: of American and English people for those Olympic Games. 307 00:17:01,760 --> 00:17:04,200 Speaker 5: Those two figures are important to share. 308 00:17:04,800 --> 00:17:07,920 Speaker 4: Olivia. I know this isn't your particular of the woods, 309 00:17:07,960 --> 00:17:10,199 Speaker 4: but I want to ask your thoughts on security. Obviously 310 00:17:10,280 --> 00:17:12,520 Speaker 4: there's a lot going on in the world. I'm thinking Ukraine, 311 00:17:12,560 --> 00:17:15,760 Speaker 4: I'm thinking that, I'm thinking the cop of America in Miami. 312 00:17:15,800 --> 00:17:17,800 Speaker 4: Here in the US, just you know, a few weeks back, 313 00:17:17,840 --> 00:17:19,879 Speaker 4: you know, when Argentina and Colombia in the finals you 314 00:17:19,920 --> 00:17:22,679 Speaker 4: had it was just an utter disgrace. You know, I'm 315 00:17:22,720 --> 00:17:25,560 Speaker 4: curious to hear your thoughts. Are you seeing an enlarged 316 00:17:25,560 --> 00:17:27,800 Speaker 4: police presence? What are your thoughts on all that? 317 00:17:28,440 --> 00:17:29,680 Speaker 5: Yeah, I think you're right. 318 00:17:29,800 --> 00:17:34,520 Speaker 7: I think that the security is more and more worldwide 319 00:17:34,560 --> 00:17:38,520 Speaker 7: issue and the most important is to tell you and 320 00:17:38,560 --> 00:17:42,280 Speaker 7: to tell people listening to Bloomberg that we've been preparing 321 00:17:42,600 --> 00:17:44,440 Speaker 7: for seven years. 322 00:17:44,680 --> 00:17:46,399 Speaker 5: It's been seven years. 323 00:17:46,080 --> 00:17:49,760 Speaker 7: That the Olympic Committee in France is working a lot 324 00:17:50,400 --> 00:17:56,080 Speaker 7: through that security will be ensured. For the human resources 325 00:17:56,119 --> 00:18:03,040 Speaker 7: that we are mobilizing for security, it's unprecedented. It's an 326 00:18:03,200 --> 00:18:06,920 Speaker 7: unprecedented plan for security for the touries. 327 00:18:06,680 --> 00:18:08,280 Speaker 5: Coming at the Olympic Games. 328 00:18:08,760 --> 00:18:14,440 Speaker 7: Thirty five thousand police officers will be mobilized every day 329 00:18:14,840 --> 00:18:18,080 Speaker 7: during the summer, the wall summer, with a peak of 330 00:18:18,480 --> 00:18:22,399 Speaker 7: forty five thousand for the opening ceremony. 331 00:18:22,960 --> 00:18:24,959 Speaker 5: And we will have also. 332 00:18:26,200 --> 00:18:34,600 Speaker 7: Approximately twenty thousand military personnel and eighteen thousand private agents 333 00:18:34,640 --> 00:18:39,520 Speaker 7: deployed daily to provide security at the competition sites. And also, 334 00:18:39,720 --> 00:18:44,200 Speaker 7: and I want to thank them reinforcements as usual on 335 00:18:44,320 --> 00:18:50,600 Speaker 7: those kind of international ceremony reinforcements for some of the forty. 336 00:18:50,440 --> 00:18:52,760 Speaker 5: Foreign military teams. 337 00:18:53,200 --> 00:18:57,200 Speaker 7: Is very important to thank the forty countries which are 338 00:18:57,320 --> 00:19:01,760 Speaker 7: helping us to ensure the security. No stone has been 339 00:19:01,880 --> 00:19:07,720 Speaker 7: left unturned. The security the intelligence services are fully operational. 340 00:19:08,240 --> 00:19:12,400 Speaker 7: They have been preparing a repeat for seven years and 341 00:19:12,600 --> 00:19:16,160 Speaker 7: we consider the main, main, main issue of the Olympic 342 00:19:16,200 --> 00:19:20,679 Speaker 7: Games of course it is pleasure to share the sports moment, 343 00:19:21,240 --> 00:19:27,520 Speaker 7: but the pleasure is necessarily goes with security, maximum security, 344 00:19:27,840 --> 00:19:30,760 Speaker 7: and it was one of the most important issues that 345 00:19:30,800 --> 00:19:34,480 Speaker 7: I had to manage with my friend, my friend, the 346 00:19:34,640 --> 00:19:38,520 Speaker 7: entire minister Gal d'amana. For four years, we are working 347 00:19:38,920 --> 00:19:41,879 Speaker 7: with the Mayor of Paris with all the teams. So 348 00:19:42,280 --> 00:19:46,080 Speaker 7: I've been in New York for two months before also 349 00:19:46,200 --> 00:19:49,560 Speaker 7: to say to our American friend that they can come 350 00:19:49,720 --> 00:19:54,760 Speaker 7: and that everything has been done very sergulously about the security. 351 00:19:54,840 --> 00:19:58,000 Speaker 7: We take it very seriously for those Olympic Games. 352 00:19:58,480 --> 00:20:02,359 Speaker 3: Our thanks to Olivia Greg Francis, Minister for Small and 353 00:20:02,520 --> 00:20:07,880 Speaker 3: Medium Enterprises, Trade Crafts and Tourism. We continue our Olympic 354 00:20:07,920 --> 00:20:11,960 Speaker 3: coverage by checking in with our Bloomberg team on the 355 00:20:12,000 --> 00:20:15,480 Speaker 3: ground in Paris. While Olivia sounded up beat on the 356 00:20:15,520 --> 00:20:18,560 Speaker 3: economic impact of the summer Games, others in the host 357 00:20:18,640 --> 00:20:23,320 Speaker 3: city not so much. Bloomberg News reporter Carolyn Conan from 358 00:20:23,480 --> 00:20:29,440 Speaker 3: our Paris bureau spoke with Charles Zenati, president of MEDAF Paris, 359 00:20:29,760 --> 00:20:33,480 Speaker 3: the largest employer federation in France. Here's a portion of 360 00:20:33,480 --> 00:20:34,240 Speaker 3: that conversation. 361 00:20:34,560 --> 00:20:37,720 Speaker 12: Many Parisian businesses, especially in the central of Paris, have 362 00:20:37,800 --> 00:20:41,120 Speaker 12: been complaining over the past few days about the restrictions, 363 00:20:41,119 --> 00:20:44,199 Speaker 12: about the fact that you cannot access to certain shops, 364 00:20:44,200 --> 00:20:48,679 Speaker 12: certain restaurants. Their revenues are falling at the Olympics, not 365 00:20:49,000 --> 00:20:51,119 Speaker 12: benefiting Parisian businesses. 366 00:20:52,160 --> 00:20:54,960 Speaker 13: Well, I would say that I would start by saying 367 00:20:54,960 --> 00:20:59,920 Speaker 13: that if people were not complaining, we would probably be 368 00:21:00,200 --> 00:21:04,159 Speaker 13: in another country, right, So that's the first thing. But 369 00:21:04,320 --> 00:21:09,440 Speaker 13: wait until someone gets the first medal, and you will 370 00:21:09,480 --> 00:21:13,639 Speaker 13: see all these people who complain like starting celebrating, and 371 00:21:14,000 --> 00:21:18,000 Speaker 13: this entire country will become one. So that's the first thing. 372 00:21:18,119 --> 00:21:22,439 Speaker 13: Of course. I mean you in French, you say you 373 00:21:22,440 --> 00:21:25,800 Speaker 13: cannot make an omelet without breaking eggs. Okay, So there 374 00:21:25,840 --> 00:21:31,160 Speaker 13: are like difficulties that people have to face. We had 375 00:21:31,200 --> 00:21:36,720 Speaker 13: a lot of information beforehand to adjust ourselves, to adjust 376 00:21:36,800 --> 00:21:44,919 Speaker 13: our companies. Most people are now working from their remote place, 377 00:21:45,960 --> 00:21:50,879 Speaker 13: so we started this till it's Hawaii thing heavily. It's 378 00:21:50,960 --> 00:21:55,199 Speaker 13: more difficult for you know, the small businesses like I 379 00:21:55,320 --> 00:21:58,560 Speaker 13: have chocolate jobs, and I have to say that over 380 00:21:58,600 --> 00:22:02,000 Speaker 13: the last two weeks it was difficult for people to 381 00:22:02,000 --> 00:22:05,960 Speaker 13: circulate in the center of Paris. So that's why there 382 00:22:06,000 --> 00:22:09,280 Speaker 13: are reasons to complain. But on the other hand, you 383 00:22:09,359 --> 00:22:15,200 Speaker 13: have to have in mind that before after the Olympics. Uh, 384 00:22:15,400 --> 00:22:18,560 Speaker 13: all these people who had experienced difficulties, we have the 385 00:22:18,920 --> 00:22:22,159 Speaker 13: will have the right to ask for a compos a 386 00:22:22,200 --> 00:22:26,320 Speaker 13: form of conversation, and the mediev Paris will help them 387 00:22:26,760 --> 00:22:31,400 Speaker 13: to build up their case. So all together it will 388 00:22:31,440 --> 00:22:34,879 Speaker 13: be a great uh moment, a great celebration. 389 00:22:35,040 --> 00:22:37,440 Speaker 12: Does that mean that a thinks asking you for more 390 00:22:37,520 --> 00:22:38,560 Speaker 12: pim metoclates? 391 00:22:39,080 --> 00:22:43,840 Speaker 13: No? I mean, uh, you know there there are a 392 00:22:43,920 --> 00:22:50,119 Speaker 13: lot of chocolate companies over there. We hope that the 393 00:22:50,200 --> 00:22:53,119 Speaker 13: tourists will be there and the activity. 394 00:22:52,640 --> 00:22:55,560 Speaker 5: Will will go up. Also, we we. 395 00:22:57,440 --> 00:23:01,199 Speaker 13: Noticed that in London, for instance, the impact on the 396 00:23:01,280 --> 00:23:07,520 Speaker 13: economy was really not during the celebration itself and during 397 00:23:07,560 --> 00:23:12,399 Speaker 13: the Olympics, but after the Olympic. So this will probably 398 00:23:12,600 --> 00:23:16,800 Speaker 13: happen because these games. These games are going to be 399 00:23:16,800 --> 00:23:20,359 Speaker 13: a game changer really, so it's going to be great. 400 00:23:21,240 --> 00:23:24,159 Speaker 12: Some economies are actually saying that the impact of the 401 00:23:24,200 --> 00:23:27,760 Speaker 12: games could last up to ten years after the games. 402 00:23:27,800 --> 00:23:29,719 Speaker 12: Do you think that's going to be the impact on 403 00:23:29,920 --> 00:23:32,320 Speaker 12: Parisian businesses for ten years? 404 00:23:32,680 --> 00:23:37,320 Speaker 13: Yes? I do think so. Keep in mind that something 405 00:23:37,400 --> 00:23:41,639 Speaker 13: like more than ten billions have been invested in this 406 00:23:41,800 --> 00:23:47,399 Speaker 13: particular moment, so we all hope that it's going to 407 00:23:47,520 --> 00:23:52,200 Speaker 13: last more than five weeks. I mean between the Olympics 408 00:23:52,200 --> 00:23:56,040 Speaker 13: and the Olympics. So yes, if you look at all 409 00:23:56,080 --> 00:24:02,199 Speaker 13: the infrastructures that have been constructed or developed are revamped, 410 00:24:03,280 --> 00:24:07,080 Speaker 13: of course these infrastructures will last for a very long time. 411 00:24:07,640 --> 00:24:12,760 Speaker 13: Only the transportation system is going to be completely transformed. 412 00:24:13,119 --> 00:24:17,040 Speaker 12: Fifteen million visitors are expected. So who's benefiting exactly. 413 00:24:17,200 --> 00:24:20,320 Speaker 13: I think it's going to be benefit to everybody, all 414 00:24:20,400 --> 00:24:26,360 Speaker 13: the businesses, large corporations of course, I mean the company 415 00:24:26,600 --> 00:24:33,639 Speaker 13: who handles I mean, the CEO the Olympic Committee is 416 00:24:33,680 --> 00:24:37,240 Speaker 13: going to benefit from it. But also the rest of 417 00:24:37,320 --> 00:24:43,080 Speaker 13: the city. Think about that one thing. There's three billion 418 00:24:43,119 --> 00:24:49,800 Speaker 13: people who are going to see images from Paris of Paris, 419 00:24:50,200 --> 00:24:54,919 Speaker 13: the monuments and how great this city is during weeks 420 00:24:54,920 --> 00:24:59,399 Speaker 13: and weeks, so I'm sure that they will be willing 421 00:24:59,480 --> 00:25:01,760 Speaker 13: to come to visit us in the future. 422 00:25:02,000 --> 00:25:06,840 Speaker 3: That's MEDAF Paris president Charles Zennati speaking with bloomberg S 423 00:25:06,880 --> 00:25:11,639 Speaker 3: Carolyn Conan in Paris. MEDAF Paris is the largest employer 424 00:25:11,760 --> 00:25:15,159 Speaker 3: federation in France. Straight ahead on the Bloomberg Business of 425 00:25:15,200 --> 00:25:19,120 Speaker 3: Sports we get a pulse check on how Team USA 426 00:25:19,320 --> 00:25:22,800 Speaker 3: is faring for these Olympic and Paralympic Games with US 427 00:25:22,840 --> 00:25:27,400 Speaker 3: Olympic Committee CEO Sarah Hirschland. I'm Michael Barr with Scarlett 428 00:25:27,400 --> 00:25:31,199 Speaker 3: Foo and Damian Sasaur. You're listening to the Bloomberg Business 429 00:25:31,200 --> 00:25:35,159 Speaker 3: of Sports from Bloomberg Radio. Around the world. 430 00:25:43,600 --> 00:25:48,680 Speaker 2: You're listening to Bloomberg Business of Sports from Bloomberg Radio. 431 00:25:48,880 --> 00:25:51,240 Speaker 3: This is the Bloomberg Business of Sports show, where we 432 00:25:51,280 --> 00:25:53,720 Speaker 3: explore the big money issues in the world of sports. 433 00:25:53,760 --> 00:25:57,520 Speaker 3: I'm Michael Barr along with Scarlett Fou and Damian Sasaur. 434 00:25:58,160 --> 00:26:00,679 Speaker 3: Now we know the US as all always been a 435 00:26:00,920 --> 00:26:05,520 Speaker 3: powerhouse at the Olympic Games, with athletes such as Simone Biles, 436 00:26:05,840 --> 00:26:10,320 Speaker 3: Katie Ledecki and Lemron James sure to draw significant attention. 437 00:26:10,560 --> 00:26:13,280 Speaker 3: But it is Team USA going for the gold in 438 00:26:13,320 --> 00:26:17,639 Speaker 3: both Olympics and the Paralympic Games. For more, we're joined 439 00:26:17,640 --> 00:26:22,240 Speaker 3: by US Olympic Committee CEO Sarah Hirschland. Sarah, welcome to 440 00:26:22,280 --> 00:26:23,920 Speaker 3: the Bloomberg Business of Sports. 441 00:26:24,160 --> 00:26:26,199 Speaker 14: Wow, thank you for having me. It's a treat to 442 00:26:26,200 --> 00:26:27,200 Speaker 14: be with you guys today. 443 00:26:27,400 --> 00:26:31,919 Speaker 3: Well, I'm going to start out women's sports is exploding 444 00:26:32,080 --> 00:26:36,160 Speaker 3: about dang on time. Your thoughts about it now and 445 00:26:36,240 --> 00:26:39,240 Speaker 3: how it will impact the Olympics. 446 00:26:39,520 --> 00:26:43,640 Speaker 14: Well, the women of Team USA will not disappoint this summer, 447 00:26:44,280 --> 00:26:47,600 Speaker 14: and that's been a theme that we've seen even in 448 00:26:48,600 --> 00:26:52,400 Speaker 14: recent Olympic Games that the women of Team USA are 449 00:26:52,440 --> 00:26:58,480 Speaker 14: dominant and will inevitably likely win more medals in fact 450 00:26:58,560 --> 00:27:00,879 Speaker 14: than the men of Team USA. So we have a 451 00:27:00,880 --> 00:27:03,240 Speaker 14: lot to be excited about as it relates to the 452 00:27:03,240 --> 00:27:04,080 Speaker 14: women this summer. 453 00:27:04,400 --> 00:27:07,480 Speaker 1: Yeah, I saw a stat that indicated if Team USA 454 00:27:07,560 --> 00:27:11,200 Speaker 1: women were their own country at the twenty twenty Tokyo Games, 455 00:27:11,240 --> 00:27:13,600 Speaker 1: they would have placed third in the overall metal count. 456 00:27:14,040 --> 00:27:17,960 Speaker 1: What do you tribute the outperformance of women in the 457 00:27:17,960 --> 00:27:21,200 Speaker 1: Olympic teams and Team USA to men? Why do you 458 00:27:21,240 --> 00:27:21,760 Speaker 1: think that is? 459 00:27:22,119 --> 00:27:25,200 Speaker 14: Well, you have to point back to fifty years ago 460 00:27:25,400 --> 00:27:28,000 Speaker 14: and the onset of Title nine and the strength of 461 00:27:28,119 --> 00:27:32,840 Speaker 14: the education based sports system we have in this country 462 00:27:33,080 --> 00:27:36,200 Speaker 14: that simply does not exist in the rest of the world, 463 00:27:36,560 --> 00:27:40,720 Speaker 14: and that has made a huge difference in providing opportunity 464 00:27:40,840 --> 00:27:44,800 Speaker 14: for young women in particular going up through the education system, 465 00:27:44,840 --> 00:27:47,679 Speaker 14: whether that's in elementary school and middle school. But then ultimately, 466 00:27:47,720 --> 00:27:50,320 Speaker 14: when you're talking elite levels. It's when you get to 467 00:27:50,359 --> 00:27:54,200 Speaker 14: the collegiate system, and that collegiate system put Title nine 468 00:27:54,240 --> 00:27:56,359 Speaker 14: in place fifty years ago and said women have to 469 00:27:56,400 --> 00:28:00,439 Speaker 14: have equal opportunities. And that has allowed women in this 470 00:28:00,600 --> 00:28:05,520 Speaker 14: country to develop as elite athletes and consistently faster than 471 00:28:05,560 --> 00:28:08,240 Speaker 14: what their peers around the world are having opportunity to do. 472 00:28:08,640 --> 00:28:11,600 Speaker 4: Sarah, I look back to twenty eleven when Alex Morgan 473 00:28:12,080 --> 00:28:15,160 Speaker 4: first joined the US women's national team in soccer, and 474 00:28:15,480 --> 00:28:18,760 Speaker 4: I look today to US women's basketball and Caitlin Clark 475 00:28:18,880 --> 00:28:22,159 Speaker 4: being left off the team. Are you disappointed by that 476 00:28:22,640 --> 00:28:25,480 Speaker 4: or are the Olympic committees disappointed by that at all? 477 00:28:25,840 --> 00:28:28,160 Speaker 14: I think what you have to recognize is that the 478 00:28:28,200 --> 00:28:33,639 Speaker 14: selection process for an Olympic or Paralympic Games is a 479 00:28:33,760 --> 00:28:37,840 Speaker 14: multi year process. USA Basketball, in this instance, the governing 480 00:28:37,880 --> 00:28:40,320 Speaker 14: body for the sport of basketball here in the US, 481 00:28:40,840 --> 00:28:44,720 Speaker 14: has been underway in a process that's very clearly defined 482 00:28:44,760 --> 00:28:47,560 Speaker 14: and set out, and they have, you know, they bring 483 00:28:47,840 --> 00:28:51,320 Speaker 14: a group of in this case women together over the 484 00:28:51,320 --> 00:28:54,320 Speaker 14: course of many years. That team of people have to 485 00:28:54,360 --> 00:28:56,960 Speaker 14: actually qualify for the Games. It isn't a given that 486 00:28:57,040 --> 00:28:59,479 Speaker 14: the US has qualified for the Games. So we have 487 00:28:59,520 --> 00:29:01,719 Speaker 14: to go through the process of qualifying, and that happens 488 00:29:01,720 --> 00:29:03,320 Speaker 14: over the course of quite a bit of time. 489 00:29:03,640 --> 00:29:04,760 Speaker 5: So when you look at. 490 00:29:04,600 --> 00:29:08,440 Speaker 14: The whole thing in totality, I would say USA Basketball 491 00:29:08,560 --> 00:29:11,560 Speaker 14: has had a very disciplined process with people who know 492 00:29:11,640 --> 00:29:14,160 Speaker 14: more about the sport of women's basketball than anyone else 493 00:29:14,200 --> 00:29:17,320 Speaker 14: in the world, and I trust that they know exactly 494 00:29:17,360 --> 00:29:20,560 Speaker 14: what they're doing. The women have won the gold medal consistently, 495 00:29:21,000 --> 00:29:24,040 Speaker 14: and our hope is that they've gotten it right yet 496 00:29:24,120 --> 00:29:26,280 Speaker 14: again and we're going to win another gold. 497 00:29:26,480 --> 00:29:29,840 Speaker 3: Taking in on a broader scale, what sports are of 498 00:29:29,920 --> 00:29:34,680 Speaker 3: the biggest interest to American fans men and women in 499 00:29:34,760 --> 00:29:35,800 Speaker 3: the Summer Olympics. 500 00:29:35,960 --> 00:29:38,640 Speaker 14: Well, you know, in this country, we love our team sports, 501 00:29:38,920 --> 00:29:43,120 Speaker 14: so you'll see the team sports continue to be extraordinarily popular, 502 00:29:43,160 --> 00:29:47,280 Speaker 14: whether that's basketball, soccer, volleyball, so you know we're big 503 00:29:47,280 --> 00:29:49,800 Speaker 14: on teams. But you're also going to see some of 504 00:29:49,840 --> 00:29:53,040 Speaker 14: the faster growing sports at the youth level will garner 505 00:29:53,080 --> 00:29:55,719 Speaker 14: a lot of attention at the Olympic level. So sports 506 00:29:55,760 --> 00:30:00,000 Speaker 14: like women's wrestling that's growing exceptionally quickly in high school 507 00:30:00,200 --> 00:30:03,360 Speaker 14: and even collegiate levels now is something we should keep 508 00:30:03,360 --> 00:30:04,360 Speaker 14: our eyes on for sure. 509 00:30:04,560 --> 00:30:08,800 Speaker 1: What about storylines and in particular specific athletes that the 510 00:30:08,840 --> 00:30:11,640 Speaker 1: Olympic Committee would like the American public to get to know. 511 00:30:11,800 --> 00:30:16,000 Speaker 1: How early does that not marketing campaign, but that effort 512 00:30:16,120 --> 00:30:19,560 Speaker 1: to tell the story and share it with the global 513 00:30:19,600 --> 00:30:20,200 Speaker 1: media begin. 514 00:30:20,480 --> 00:30:22,960 Speaker 14: Well, it begins really a year or two out, as 515 00:30:22,960 --> 00:30:26,280 Speaker 14: I said, because the selection and qualification process begins that 516 00:30:26,440 --> 00:30:30,600 Speaker 14: far out. But we really, really, you know, we put 517 00:30:30,640 --> 00:30:33,920 Speaker 14: an extra effort around the notion of one hundred days out. 518 00:30:34,280 --> 00:30:37,120 Speaker 14: That's always an important milestone for us because in the 519 00:30:37,200 --> 00:30:41,400 Speaker 14: last one hundred days we really go from earning quota 520 00:30:41,560 --> 00:30:45,800 Speaker 14: spots and some qualification to actually naming as many as 521 00:30:45,880 --> 00:30:49,960 Speaker 14: nine hundred individual athletes who will show up and compete 522 00:30:50,000 --> 00:30:52,120 Speaker 14: on behalf of Team USA. So that one hundred days 523 00:30:52,120 --> 00:30:55,600 Speaker 14: out milestone is a pretty important one. And so you know, 524 00:30:55,640 --> 00:30:59,760 Speaker 14: we look at this and say, okay, as these individuals 525 00:30:59,800 --> 00:31:02,160 Speaker 14: are name to the team over the course of time, 526 00:31:02,440 --> 00:31:05,120 Speaker 14: let's bring out their stories and let's tell the American 527 00:31:05,120 --> 00:31:06,720 Speaker 14: public who they are and what they're made of. 528 00:31:07,040 --> 00:31:09,800 Speaker 4: Sara, You've been CEO of the US Olympic and Power 529 00:31:09,840 --> 00:31:12,560 Speaker 4: Olympic Committee since August of twenty eighteen. But the world 530 00:31:12,680 --> 00:31:15,479 Speaker 4: is a very different place than it was when you joined. 531 00:31:15,560 --> 00:31:20,280 Speaker 4: I mean I'm thinking geopolitically Israel, Russia, Ukraine. I mean 532 00:31:20,280 --> 00:31:23,440 Speaker 4: these hotspots and you know, I hate to contract images 533 00:31:23,480 --> 00:31:25,600 Speaker 4: of nineteen seventy two in Munich, but I mean from 534 00:31:25,600 --> 00:31:30,240 Speaker 4: a security perspective, the safety of our athletes, of our olympians. 535 00:31:30,320 --> 00:31:31,760 Speaker 4: Just how important is that for you? What are you 536 00:31:31,800 --> 00:31:33,040 Speaker 4: doing differently this time around? 537 00:31:33,240 --> 00:31:36,240 Speaker 14: It's priority number one? Right, safety is priority number one, 538 00:31:36,960 --> 00:31:41,800 Speaker 14: and so we work exceptionally closely with our allies in 539 00:31:41,880 --> 00:31:46,080 Speaker 14: other countries and with all of our allied agencies within 540 00:31:46,360 --> 00:31:49,480 Speaker 14: the government, as well as our own security team to 541 00:31:49,640 --> 00:31:52,120 Speaker 14: ensure that we've got all the right plans in place 542 00:31:52,640 --> 00:31:56,120 Speaker 14: to protect athletes both from you know, any kind of 543 00:31:56,160 --> 00:32:00,120 Speaker 14: geopolitical violence, but also just from an abusive environment. And 544 00:32:00,520 --> 00:32:01,640 Speaker 14: that's priority number one. 545 00:32:01,960 --> 00:32:04,520 Speaker 3: I want to give a shout out to the Paralympics, 546 00:32:04,880 --> 00:32:09,360 Speaker 3: and you talk about strong competition. There's a fact and 547 00:32:09,600 --> 00:32:12,479 Speaker 3: I didn't realize this until I was reading up on 548 00:32:12,520 --> 00:32:17,080 Speaker 3: this before our interview, fifteen percent of the population they 549 00:32:17,200 --> 00:32:21,680 Speaker 3: have a disability of some kind. And you watch the 550 00:32:21,760 --> 00:32:27,000 Speaker 3: Paaralympics and you watch the events, there's some hard fought competition. 551 00:32:27,600 --> 00:32:30,280 Speaker 3: I mean, we know about the TV contracts and everything 552 00:32:30,760 --> 00:32:35,400 Speaker 3: for the Olympic Games, But what about the Paralympics. Where 553 00:32:35,400 --> 00:32:37,760 Speaker 3: do you see TV contracts going from there? 554 00:32:38,000 --> 00:32:42,360 Speaker 14: Thanks for asking that question. I secretly believe the Paralympics 555 00:32:42,400 --> 00:32:45,360 Speaker 14: is one of the most underleveraged assets in our ecosystem. 556 00:32:45,720 --> 00:32:49,160 Speaker 14: This Paris Games will be very important to the continued 557 00:32:49,240 --> 00:32:54,600 Speaker 14: growth of awareness and appreciation for the athleticism of the Paralympics. 558 00:32:54,800 --> 00:32:57,360 Speaker 14: But the Los Angeles twenty twenty eight games in the 559 00:32:57,440 --> 00:33:01,640 Speaker 14: United States will be a water show moment in which 560 00:33:01,680 --> 00:33:05,160 Speaker 14: we have a real opportunity to introduce this country to 561 00:33:05,200 --> 00:33:08,200 Speaker 14: a group of athletes that aren't as well known and 562 00:33:08,240 --> 00:33:12,360 Speaker 14: as well understood. And I really believe that here, over 563 00:33:12,400 --> 00:33:14,800 Speaker 14: the course of the next five to ten years, we'll 564 00:33:14,800 --> 00:33:19,800 Speaker 14: see a massive shift in the value proposition around the Paralympics, 565 00:33:19,880 --> 00:33:24,120 Speaker 14: both in content but also in a real appreciation and 566 00:33:24,200 --> 00:33:28,160 Speaker 14: respect for these individuals as extraordinary elite athletes. 567 00:33:28,560 --> 00:33:32,640 Speaker 1: This will be the first post pandemic games with fans stands, 568 00:33:32,720 --> 00:33:35,240 Speaker 1: and since they combined the Olympic and Paralympic committees in 569 00:33:35,240 --> 00:33:38,760 Speaker 1: twenty nineteen. I mean we are twenty twenty the games 570 00:33:38,800 --> 00:33:42,760 Speaker 1: there were, you know, just everyone's still adjusting adapting. What 571 00:33:42,840 --> 00:33:46,120 Speaker 1: are you anticipating this Olympics to look like. Is it 572 00:33:46,120 --> 00:33:48,600 Speaker 1: going to be a return to the pre pandemic Olympics 573 00:33:48,600 --> 00:33:51,920 Speaker 1: completely or will have made some adjustments along the way. 574 00:33:52,240 --> 00:33:55,400 Speaker 14: Well, of course, you know with each games there is evolution, 575 00:33:56,640 --> 00:34:00,480 Speaker 14: and you know, our psycho is actually quite slow normal 576 00:34:00,560 --> 00:34:03,800 Speaker 14: world a business cycle because we only have a summer 577 00:34:03,880 --> 00:34:06,920 Speaker 14: Games every four years, and so yes, these will be 578 00:34:07,040 --> 00:34:10,600 Speaker 14: different than we've ever seen before. But a lot of 579 00:34:10,640 --> 00:34:14,000 Speaker 14: things coming back from the London twenty twelve, the Rio 580 00:34:14,080 --> 00:34:18,319 Speaker 14: twenty sixteen, when the entire world was able to and 581 00:34:18,480 --> 00:34:21,640 Speaker 14: focused on the ability to celebrate that was difficult to 582 00:34:21,680 --> 00:34:24,920 Speaker 14: do during the Tokyo Games simply because we were really 583 00:34:24,960 --> 00:34:28,440 Speaker 14: in the early days of a pandemic and the attention 584 00:34:28,560 --> 00:34:30,960 Speaker 14: of all of us needed to be in lots of 585 00:34:31,000 --> 00:34:34,759 Speaker 14: different places. Now we believe Paris will bring back the 586 00:34:34,800 --> 00:34:37,520 Speaker 14: ability to really celebrate what the Olympics is all about. 587 00:34:38,280 --> 00:34:41,760 Speaker 14: That's exciting. At the same time, we're continuing to innovate 588 00:34:41,800 --> 00:34:44,279 Speaker 14: and advance, and I think you know, we'll continue to 589 00:34:44,400 --> 00:34:48,440 Speaker 14: see advancements showing up on the field of play using 590 00:34:48,640 --> 00:34:52,680 Speaker 14: technology and innovative tools to drive performance. You see that 591 00:34:52,800 --> 00:34:55,719 Speaker 14: show up in continued world records when we all say, 592 00:34:55,800 --> 00:34:59,200 Speaker 14: how is that possible? But that's through the use of 593 00:35:00,120 --> 00:35:02,680 Speaker 14: lots of technology and innovative tools that show up on 594 00:35:02,719 --> 00:35:06,160 Speaker 14: the field of play. We'll also see experiences beyond the 595 00:35:06,200 --> 00:35:08,680 Speaker 14: field of play brought by you know, all of the 596 00:35:08,760 --> 00:35:13,680 Speaker 14: sponsors and broadcasters and content producers who are creating things 597 00:35:13,680 --> 00:35:16,479 Speaker 14: that couldn't be done as recently as four years ago. 598 00:35:16,800 --> 00:35:20,040 Speaker 3: I want to ask about Now. I know people out 599 00:35:20,040 --> 00:35:23,520 Speaker 3: there like, gee, bar, you've been all serious for this interview. 600 00:35:23,560 --> 00:35:26,960 Speaker 3: You sick or something. So I got to ask this question, Well, 601 00:35:26,960 --> 00:35:32,720 Speaker 3: what is I guess the offbeat sport that some people 602 00:35:32,760 --> 00:35:36,959 Speaker 3: watching are saying, Hey, it's like, how'd that get in there? 603 00:35:37,719 --> 00:35:39,920 Speaker 14: The one that everybody's going to say, how did that 604 00:35:40,040 --> 00:35:44,640 Speaker 14: get in there? This year is breaking also known as breakdancing, 605 00:35:45,280 --> 00:35:48,839 Speaker 14: and we have some extraordinary team USA athletes who will 606 00:35:48,880 --> 00:35:53,240 Speaker 14: compete for that podium spot in breaking, a very new 607 00:35:53,680 --> 00:35:56,960 Speaker 14: sport from a competitive perspective. Most of us know break dancing. 608 00:35:57,360 --> 00:36:00,799 Speaker 14: It's been a you know, an urban street if you will, 609 00:36:00,880 --> 00:36:04,000 Speaker 14: for a long time. This will be the first time 610 00:36:04,040 --> 00:36:05,480 Speaker 14: it shows up on the big stage. 611 00:36:05,680 --> 00:36:09,480 Speaker 3: Yeah, and no disrespect to all the breakers out there 612 00:36:09,760 --> 00:36:13,439 Speaker 3: because that's hard to do. But I just didn't see 613 00:36:13,440 --> 00:36:16,319 Speaker 3: that one coming. They said, Okay, you got it. 614 00:36:16,840 --> 00:36:18,840 Speaker 4: Well Michael, you know I just missed the cut for 615 00:36:18,920 --> 00:36:20,640 Speaker 4: that team. You know I was in the running. Now 616 00:36:20,719 --> 00:36:22,799 Speaker 4: further the newrth Atlantic Reason. 617 00:36:23,920 --> 00:36:25,240 Speaker 1: An audition tape. 618 00:36:25,400 --> 00:36:27,560 Speaker 4: I mean, Sarah, let's go back to where you were 619 00:36:27,600 --> 00:36:30,520 Speaker 4: before you join the Olympics. The Olympic Committee. You know, 620 00:36:30,560 --> 00:36:33,160 Speaker 4: you were at the US Golf Association, right, talk to 621 00:36:33,239 --> 00:36:35,040 Speaker 4: us a little bit about golf in this year's Olympics. 622 00:36:35,040 --> 00:36:37,800 Speaker 4: I mean, historically, golfers they don't really care much for 623 00:36:37,840 --> 00:36:40,560 Speaker 4: the Olympics to they I mean, is this year is this? 624 00:36:41,480 --> 00:36:42,920 Speaker 4: Is this Olympics going to be any different? 625 00:36:43,080 --> 00:36:45,360 Speaker 14: Yeah? I think it will be. You know, one the 626 00:36:46,080 --> 00:36:49,399 Speaker 14: male players played this golf course for the Ryder Cup, 627 00:36:49,680 --> 00:36:53,279 Speaker 14: and when there's a familiarity, it will impact how they 628 00:36:53,360 --> 00:36:57,120 Speaker 14: feel about the opportunity to compete on a particular golf course. 629 00:36:57,680 --> 00:37:00,479 Speaker 14: We certainly know that a number of the US top 630 00:37:00,520 --> 00:37:05,520 Speaker 14: players are really excited. Colin Morikawa, who was with us 631 00:37:05,520 --> 00:37:09,360 Speaker 14: in Tokyo, I know, is eager to earn his way back. 632 00:37:09,520 --> 00:37:11,040 Speaker 14: We're gonna have a great team with the US. But 633 00:37:11,080 --> 00:37:13,240 Speaker 14: you know, golf is a sport where there's a lot 634 00:37:13,280 --> 00:37:16,560 Speaker 14: of competitive equity and parody around the world, so this 635 00:37:16,600 --> 00:37:18,399 Speaker 14: one is it'll be a real fight. 636 00:37:18,760 --> 00:37:20,600 Speaker 3: I know we haven't seen the Tug of Wars since 637 00:37:20,680 --> 00:37:23,880 Speaker 3: nineteen twenty, but boy, it was great on wide world 638 00:37:23,880 --> 00:37:26,440 Speaker 3: of sports back in the day. Oh man, I used 639 00:37:26,440 --> 00:37:27,879 Speaker 3: to love that. Man, it's likely. 640 00:37:28,480 --> 00:37:31,120 Speaker 14: Oh anyways, funny and good stuff for you to see. 641 00:37:31,160 --> 00:37:31,640 Speaker 14: I promise. 642 00:37:33,960 --> 00:37:38,120 Speaker 3: Oh, you're so kind. Sarah Hirsland. She is the Chief 643 00:37:38,280 --> 00:37:43,040 Speaker 3: Executive Officer Officer of the US Olympic and Para Olympic Committee. Sarah, 644 00:37:43,040 --> 00:37:44,560 Speaker 3: thank you so much for talking with us on the 645 00:37:44,600 --> 00:37:46,839 Speaker 3: Bloomberg Business of Sports. We appreciate it. 646 00:37:46,840 --> 00:37:49,920 Speaker 14: It's been a ton of fun. Enjoy the games this summer. 647 00:37:49,960 --> 00:37:51,000 Speaker 14: Go Team USA. 648 00:37:51,080 --> 00:37:53,800 Speaker 3: This has been the Bloomberg Business of sports. And a 649 00:37:53,880 --> 00:37:58,560 Speaker 3: special thank you to Francis Minister for Small and Medium Enterprises, 650 00:37:58,920 --> 00:38:04,160 Speaker 3: trade Craft and Tourism, Olivia Gregois and Bloomberg News reporter 651 00:38:04,239 --> 00:38:07,799 Speaker 3: Hugo Miller, and thank you for joining us. Tuned in 652 00:38:07,880 --> 00:38:10,479 Speaker 3: again next week for the latest on the stories moving 653 00:38:10,520 --> 00:38:13,279 Speaker 3: big old money in the world of sports. For my 654 00:38:13,480 --> 00:38:17,640 Speaker 3: colleagues Scarlett Foo and Damien Sassawur, I'm Michael Barne, you've 655 00:38:17,640 --> 00:38:21,640 Speaker 3: been listening to Bloomberg Business of Sports from Bloomberg Radio 656 00:38:21,760 --> 00:38:22,800 Speaker 3: around the world.