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Speaker 1: This is the Business of Sports from Bloomberg Radio. Hello,

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Speaker 1: I'm Jason Kelly and I'm Michael and Mike Lynch. We're

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Speaker 1: here Monday's, Wednesdays and Thursdays to explore the big money

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Speaker 1: issues in the world of sports. Talk to some of

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Speaker 1: the biggest players in the industry. Big money, that's what

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Speaker 1: we are talking about today, and sports and a big day.

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Speaker 1: I'm just gonna say it right up top for Michael

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Speaker 1: bar because today we are speaking with the CEO of Fandel,

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Speaker 1: Matt King. Matt. Really glad to have you with us.

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Speaker 1: Great to be here, guys, thanks for having me. All right,

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Speaker 1: I'm gonna break tradition here. Usually I asked the first question.

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Speaker 1: I am turning this over, this first question over to

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Speaker 1: Michael Barr because I know he has more questions than

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Speaker 1: we have time for. Bar take it away. Don't worry, fellas,

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Speaker 1: I got this. Let me let me tell you how

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Speaker 1: much I'm Jones and for this interview. Yes, right, I said,

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Speaker 1: Jones in all the year. That's right. Usually I do

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Speaker 1: in any interview, I have the lights on in the

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Speaker 1: studio and I'm going through the notes. All the lights

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Speaker 1: off in the studio, and the only thing missing now

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Speaker 1: is a Budweiser, because I got a lot of questions

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Speaker 1: from a guy who is a gambler himself. So my

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Speaker 1: first question is DraftKings. How is that now they're saying

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Speaker 1: that an analyst, your competitor, they can survive with Major

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Speaker 1: League Baseball, you know, their quotation marks there because of

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Speaker 1: the bubble sports of the NBA and the NHL coming up.

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Speaker 1: And I'm wondering, what about you guys at FanDuel. Do

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Speaker 1: you guys see it the same way? Sure, I mean,

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Speaker 1: I think from our perspective, we are in a position where,

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Speaker 1: you know, we think we can kind of not only

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Speaker 1: survive but also thrive. Obviously, that kind of in the

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Speaker 1: context of a lot of businesses that are having real challenges,

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Speaker 1: not just in sports and outside of sports. Um, but

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Speaker 1: if you look at our business, what makes us unique

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Speaker 1: is we're the most diverse online gaming business out there.

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Speaker 1: In addition to fantasy sports and sports betting, we have

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Speaker 1: online casino. We also actually have the biggest online horse

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Speaker 1: racing business in the country, and we've been fortunate that

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Speaker 1: the casino and the horse racing business have really been

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Speaker 1: growing dramatically year every year. We also operate a poker

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Speaker 1: business in the US that's doing very nicely. And you

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Speaker 1: know that said sar Do a couple of days ago. Yeah,

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Speaker 1: that we do. So you know, our tagline is more

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Speaker 1: ways to win, and so when we look at it,

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Speaker 1: you know, that's really what we're trying to deliver. So

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Speaker 1: we got kind of businesses that are uninterrupted by COVID,

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Speaker 1: like poker and casino, and then you have businesses like

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Speaker 1: sports betting and fantasy where we've just been trying to

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Speaker 1: drive as much creativity in there to keep people engaged. Um,

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Speaker 1: even if revenues down, we want to make sure we're

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Speaker 1: still delivering a great experience and great excitement to our customers.

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Speaker 1: And so Matt, tell us what it's been like, you know,

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Speaker 1: since the shutdown running the BIS. This maybe some of

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Speaker 1: the things that we might not expect or might be

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Speaker 1: surprised to hear in terms of even just the operations

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Speaker 1: of FANDEL. Yeah, that's a great question. I mean, obviously

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Speaker 1: every day has been a new challenge, and particularly in

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Speaker 1: the early days, the uncertainty created a lot of tricky

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Speaker 1: issues just in terms of how you manage the business.

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Speaker 1: We've always been a remote business where we have a

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Speaker 1: lot of people in the office, but it was always

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Speaker 1: distributed UM, so we kind of made the transition to

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Speaker 1: working from home pretty seamlessly. We focused obviously on health

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Speaker 1: and safety first, making sure people were kind of at

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Speaker 1: home having any resources they needed. But then what really

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Speaker 1: has been impressive to watch is the creativity of the

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Speaker 1: team and also the way the team pulled together to

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Speaker 1: deliver a great customer proposition. If you take our fantasy

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Speaker 1: sports business, very early on, we gave a quick direction

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Speaker 1: to that team that said, look, fantasy is reliant largely

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Speaker 1: on the Big four sports historically. Without the Big four

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Speaker 1: or it's going to be hard to generate and recover

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Speaker 1: a lot of the revenue. But what we can do

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Speaker 1: is focused on engaging our users, and so we did

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Speaker 1: everything from the Democratic debate Fantasy to we issue we're

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Speaker 1: doing free to play games on mad and simulations and

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Speaker 1: so just giving people something new every day to do

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Speaker 1: in a way that retained more than fift our customers

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Speaker 1: on the site day in and day out, just playing

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Speaker 1: free to play games, and that was really the objective

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Speaker 1: that we tried to deliver against UM and then in

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Speaker 1: other parts of the business, you know, we frankly introduced

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Speaker 1: a lot of cross selling activities. So we actually launched

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Speaker 1: a FanDuel branded racing product and that's horse Racing, to

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Speaker 1: introduce horse racing to a whole new generation of fans.

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Speaker 1: And the benefit of horse racing is it. You know,

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Speaker 1: while a lot of races were canceled, it kept going

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Speaker 1: even through the depths of the early days of COVID,

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Speaker 1: and so we're able to bring a totally new product

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Speaker 1: to market that met in need and delivered a lot

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Speaker 1: of a lot of fun to a lot of users.

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Speaker 1: That type of creativity, it's really been the hallmark of

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Speaker 1: the team since COVID happened. So baseball is back, matt

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Speaker 1: Um shortened season. Opening day was July fifth, as opposed

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Speaker 1: to like March. What is the demand after this shutdown

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Speaker 1: versus a year ago when the opening day came and

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Speaker 1: baseball is off the chart at the moment. We've done

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Speaker 1: a lot of promotional activities and advertising to lean into

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Speaker 1: it as well. So you definitely had the pent up demand,

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Speaker 1: and then we tried to kind of accelerate that more

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Speaker 1: just because we wanted to thank all of our fans

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Speaker 1: who frankly entertained us and got sports through in the

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Speaker 1: sports ecosystem through the kind of the worst days of

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Speaker 1: covid UM, and so we dropped eighty million dollars into

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Speaker 1: people's accounts and said, kind of everybody's got ten bucks

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Speaker 1: to play free when baseball comes back. And so between

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Speaker 1: kind of the pent up demand and what we've done

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Speaker 1: to really engage our players, we've seen off the charts. Man,

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Speaker 1: I'm just wondering if the betting. Let's let's put it

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Speaker 1: this way, there are two types of betting on fan

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Speaker 1: duel and others. There's the sports book part and then

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Speaker 1: there's the casino part. It would seem to me the

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Speaker 1: casino part would still be strong, because yes, there are

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Speaker 1: a lack of sports out there, but the casino part

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Speaker 1: would still be strong. Is that true. Yes, casino has

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Speaker 1: been strong pre covid Casino continues to be strong, and

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Speaker 1: that's both people coming in direct to play, just because obviously,

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Speaker 1: while the number of casinos are open, they're under capacity

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Speaker 1: limitations and other things. He's kind of the traditional casino

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Speaker 1: gambler who's playing on our site. Then you also have

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Speaker 1: people that are just looking for a quick hand of

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Speaker 1: black jack in between your betting on sports. So casino

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Speaker 1: is definitely a business that's growing very very nicely. So

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Speaker 1: when you think about the sports landscape in the in

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Speaker 1: the Big four that you mentioned, Matt, I mean, walk

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Speaker 1: us through that a little bit in terms of demand first,

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Speaker 1: but then also how the way that the games are

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Speaker 1: being played and where they're being played. I mean, we

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Speaker 1: spend so much time talking about that, the logistics of everything,

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Speaker 1: but I wonder, ultimately how much does that affect your business.

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Speaker 1: It's a great question. So I think from in general,

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Speaker 1: the way the games are being played doesn't really affect

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Speaker 1: our business. You know, if you look at sports betting,

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Speaker 1: you know, we make this point the legislators all the

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Speaker 1: time when they're debating kind of mobile versus not. The

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Speaker 1: market long term is going to be mobile sports setting.

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Speaker 1: It's not in the venue, and most times these are

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Speaker 1: people that are not at the game, and so most

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Speaker 1: of our users are already sitting home when they're watching

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Speaker 1: the game, and they can play best the same way

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Speaker 1: they can be a pre COVID. So the way the

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Speaker 1: games are getting played AID doesn't really affect us that much.

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Speaker 1: I mean there's some stuff on the margin, right the

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Speaker 1: rules around the baseball has in terms of how rainouts

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Speaker 1: are gonna get treated, or how short games are gonna

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Speaker 1: get treated. That affects kind of how some of the

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Speaker 1: bets settled, but that's more on the margin. It doesn't

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Speaker 1: affect the overall experience. I think the big question that

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Speaker 1: we have, it's been a noble question at this point

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Speaker 1: because it's more of a football phenomenon, is the social

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Speaker 1: experience around sports is changing. You know, you guys know

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Speaker 1: as well as I do. On an NFL Sunday, you're

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Speaker 1: at a friend's house, you're gathered with family, you're at

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Speaker 1: a bar, you're at the tailgate. You know, a lot

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Speaker 1: of football in particular is defined by the social ritual,

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Speaker 1: and that's going to change, obviously for this upcoming season.

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Speaker 1: And how that change affects our business and the way

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Speaker 1: people play and the way people bet exactly. They're probably

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Speaker 1: their desire to connect with their friends in a virtual

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Speaker 1: way probably goes up pretty significantly, and so we're looking

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Speaker 1: to do more things to connect people in a virtual way.

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Speaker 1: Record I sing that from a social perspective, you know,

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Speaker 1: it's going to be very different than it has been

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Speaker 1: in years past. Matt with COVID nineteen just depleting so

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Speaker 1: many state treasuries. Do you think this will accelerate the

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Speaker 1: legalized sports betting in some of the states that have

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Speaker 1: been holding back so far. I think it does. I

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Speaker 1: mean you're seeing what people started to realize pre COVID

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Speaker 1: your two year roughly two years into legalized sports betting,

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Speaker 1: and the reality is most legislators kind of solve this

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Speaker 1: as sports betting legislation and mobile sports betting legislation in

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Speaker 1: particular is kind of common sense legislation. It's one of

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Speaker 1: the few things that can generate tax revenue, help protect consumers,

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Speaker 1: put an illegal market out of business, and you have

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Speaker 1: something that you're constituents thank you for, which is rare

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Speaker 1: when you're raising new tax revenues. And so even pre

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Speaker 1: COVID you had a ton of momentum in sports betting.

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Speaker 1: Sports betting is certainly accelerating a lot of the conversations

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Speaker 1: and the process at the state level because you just

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Speaker 1: have these big economic stimulus bills that are going through

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Speaker 1: where states are looking for every bit of revenue as

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Speaker 1: they can. I would say the other thing a lot

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Speaker 1: of states are now considering, and there's in some ways

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Speaker 1: been even more acceleration, is online gaming. People recognize that

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Speaker 1: the casino business is going to be challenged for a

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Speaker 1: long time, both from a kind of physical public health

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Speaker 1: perspective as well as a revenue perspectives. And the states

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Speaker 1: have relied on casino revenues and taxes for a big

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Speaker 1: chunk of their budgets and they need to find a

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Speaker 1: way to replace that too. And so you know, we're

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Speaker 1: optimistic that you're going to see a lot of a

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Speaker 1: lot more states actually legalized both online sports as well

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Speaker 1: as online gaming in order to maximize the opportunity that's here.

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Speaker 1: It makes me wonder about the most important person when

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Speaker 1: it comes to fan Duel or or any other online

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Speaker 1: sports betting site. The person has got to set the line.

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Speaker 1: And I wonder now, because of COVID and because we're

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Speaker 1: playing baseball in fanless stadiums, how much does that impact

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Speaker 1: setting the line? You know, again, it impacts that less

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Speaker 1: than you might think. You know, a lot of our

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Speaker 1: lines are very analytically driven. You know, we offer more

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Speaker 1: markets than anybody else. On average, there's probably two to

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Speaker 1: three x the number of things that you can bet

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Speaker 1: on in a game on our site relative to everybody else. Also,

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Speaker 1: we keep a lot of our markets open throughout the game.

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Speaker 1: So we have one of the biggest, if not the

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Speaker 1: biggest in play businesses out there, and um, a lot

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Speaker 1: of that comes from just a very analytically kind of

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Speaker 1: big data driven set of models, and then the traders

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Speaker 1: are providing kind of an overlay to that. And because

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Speaker 1: we're so data driven, again, as long as we're getting

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Speaker 1: the data feed, we can trade the game and you

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Speaker 1: move forward with the business are kind of as relatively normal,

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Speaker 1: you know. One of the things that we are trying

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Speaker 1: to innovate around is actually improving some of those models,

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Speaker 1: and the upcoming season actually give people even more opportunities

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Speaker 1: to bet um as well as more in play opportunities

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Speaker 1: because we seemed such a demand for in play that

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Speaker 1: we really want to lean into something that customers are

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Speaker 1: coming to seeing for the first time because it never

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Speaker 1: existed in Vegas and really love straight off the bat. Well, Matt,

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Speaker 1: let's talk about this. I mean that a little bit

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Speaker 1: more in terms of people seeing it for the first time.

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Speaker 1: I mean, how have you seen your customer change, your

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Speaker 1: audience changed through the course of this, because we know

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Speaker 1: I mean I know personally, you know, personally, everybody in

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Speaker 1: this interview, does all of our daily habits and routines

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Speaker 1: have changed a little bit. I do wonder how you

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Speaker 1: are getting to people, finding people and what you're discovering

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Speaker 1: about maybe some new markets and new customers. Yeah, no,

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Speaker 1: it's it's a great question. I think in terms of

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Speaker 1: reaching people, one of the things that we've on a

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Speaker 1: lot of is actually invested in our own content. We

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Speaker 1: saw an opportunity two years ago to deliver high quality,

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Speaker 1: kind of sports betting oriented content into the marketplace, and

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Speaker 1: we've found that that ability has really differentiated as amongst

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Speaker 1: customers and it's been something that people were seeking out.

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Speaker 1: One of the things that we had to adapt to

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Speaker 1: your question about kind of reaching customers was when you

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Speaker 1: don't have sports to talk about, you know, what do

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Speaker 1: you write about? And what should your content be about?

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Speaker 1: In that window, we've converted a lot to just, frankly,

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Speaker 1: things that entertained and so we were out doing your

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Speaker 1: betting content on the long tail of sports or other

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Speaker 1: things that just kept people engaged. And so that's been

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Speaker 1: one thing that we've done. It's different is that, you know,

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Speaker 1: continuing to invest in content that adapting the content for

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Speaker 1: what's going on. I think in terms of what people

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Speaker 1: are doing Yeah, I think we've seen a couple of

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Speaker 1: things happen in our player base. One is more people

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Speaker 1: tried on lane casino, so we talked a little bit

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Speaker 1: about that, uh, and then I think the second thing

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Speaker 1: people have done is obviously experimented more with, you know,

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Speaker 1: sports outside the Big Four, whether that's European soccer, whether

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Speaker 1: that's the UFC, whether that's golf. One of the things

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Speaker 1: that we found was when you have kind of no

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Speaker 1: sports on, if there's one event for the weekend, right,

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Speaker 1: one UFC fight, one golf match, kind of everybody focuses

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Speaker 1: on that. And so one of the things that we've

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Speaker 1: kind of adapted to is leaning into those tent pole

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Speaker 1: events on a weekend by weekend basis just to make

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Speaker 1: sure we're talking about the things that people are watching,

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Speaker 1: which is very different than most of the normal sporting calendar,

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Speaker 1: where you might have two or three big sports going

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Speaker 1: on at one time and then a lot of little sports,

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Speaker 1: so you can't really be focused on just one event.

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Speaker 1: And during this time period, we've been much more focused

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Speaker 1: on what's the big event this weekend, how do we

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Speaker 1: lean into it, how do we make it even more

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Speaker 1: entertaining for fans, and out of that, we've done a

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Speaker 1: lot of kind of creative things in the last couple

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Speaker 1: of months. So, um, let's just say at the beginning

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Speaker 1: of the baseball season, there's an over under for wins

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Speaker 1: and I get the Miami Marlins and I don't know,

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Speaker 1: I picked over twenty seven, but they don't make it

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Speaker 1: to the end of the season because they've they've run

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Speaker 1: out of their sixty men roster. What happens is I

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Speaker 1: just tough luck. That's the way the ball bounces. Now,

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Speaker 1: I mean, look from our perspective, I mean, these are

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Speaker 1: the types of permutations that you just never know what's

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Speaker 1: going to happen. Um, I think where it's you know,

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Speaker 1: things that are truly COVID related are truly unexpected. You know,

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Speaker 1: we're trying to do you know, what we called bad beats, right,

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Speaker 1: which is go back to people and say, look, you

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Speaker 1: know X, y Z, thing happened wasn't in your control

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Speaker 1: and or it was just something that was a new

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Speaker 1: rule for this year, but probably you probably didn't get it.

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Speaker 1: You know, here's your stake back, or here's some promotional credits,

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Speaker 1: Like at the end of the day, you were playing

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Speaker 1: for the long game, and we want to make sure

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Speaker 1: our customers always feel like that we were fair and

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Speaker 1: you to the extent possible on their side, and so

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Speaker 1: were there are things that are just kind of bad beats.

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Speaker 1: You know, we're going to lean into how do we

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Speaker 1: just make it right for customers, recognizing that, yes, that

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Speaker 1: one futures that you have down is probably one of

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Speaker 1: a lot of that's you're gonna be making throughout the year.

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Speaker 1: So I want to make sure you feel good about things.

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Speaker 1: And when the unexpected happens, we're gonna air on the

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Speaker 1: side of the fan. I'm going to preach just for

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Speaker 1: one second when you talk about bad beats, especially when

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Speaker 1: you're in poker, and and please help me out here.

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Speaker 1: And this is to the obnoxious poker players out there

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Speaker 1: who just bully and be a little others, because that's

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Speaker 1: one bad for business and nobody wants to see that. Okay,

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Speaker 1: you got a bad beat and somebody beat you. You

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Speaker 1: had aces and he had a pocket three and he

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Speaker 1: called a three on the board. What do people like

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Speaker 1: you at fan duel and others to police that so

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Speaker 1: the bullies are known, Hey, knock it off and quit

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Speaker 1: acting like you twelve years old. It's a great question,

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Speaker 1: and honestly, we use a lot of different channels. We

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Speaker 1: obviously try to kind of survey it ourselves. We're always

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Speaker 1: looking for feedback from players if they feel like there's

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Speaker 1: bad behavior out there, and then you know, as possible

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Speaker 1: or as we see opportunities where that's happening or kind

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Speaker 1: of holes in our system, we'll try to close those, right.

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Speaker 1: So it's sometimes that's you're putting controls around what types

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Speaker 1: of user names people can register or what types of

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Speaker 1: comments they can leave. So it's a multi threaded issue

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Speaker 1: because you're similar to every other social platform or tech

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Speaker 1: platform out there. You know, the people that are going

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Speaker 1: to be pains in the rear are always going to

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Speaker 1: find new ways to be pains in the rear. So

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Speaker 1: it's it's pretty much a game lackable and what we're

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Speaker 1: focused on, exactly your point, just building the most positive

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Speaker 1: community that we can UM and policing that behavior requires

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Speaker 1: kind of everybody's input UM. And then you know, as

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Speaker 1: we see patterns trying to make the rules owned isa,

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Speaker 1: look this is okay, this is not because they're always

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Speaker 1: been people that try to take advantage and we want

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Speaker 1: to say a step ahead of them because we recognize

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Speaker 1: it's got to be a great experience for people. So, Matt,

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Speaker 1: I'm going to take you a little deeper into your

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Speaker 1: resume if I may to, to have you opened a

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Speaker 1: little bit on the future of the business. You worked

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Speaker 1: in private equity for arguably the best known private equity

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Speaker 1: firm in the world kk R, for I believe a decade.

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Speaker 1: As you analyze this, I'm sure you can't help but

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Speaker 1: sort of put on your private equity had as you

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Speaker 1: think about your business and the broader industry, how does

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Speaker 1: this grow and change and how does the pandemic and

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Speaker 1: everything else we're experiencing right now maybe change the trajectory

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Speaker 1: of not just your business but the overall industry. No,

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Speaker 1: that's a great question. Yeah, it's and I'll probably give

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Speaker 1: you a little bit of context. There's a lot of

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Speaker 1: people assume that I got into san Duel and fantasy

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Speaker 1: sports because I thought sports betting was inevitable, and then

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Speaker 1: the reality was I wasn't that smart. The reason I

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Speaker 1: got into SANDEL was really an interest in kind of

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Speaker 1: the intersection of the growth in gaming combined with the

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Speaker 1: disruption that I thought was going to be inevitable in

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Speaker 1: the sports media landscape. Um, you know, you go back

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Speaker 1: to when I joined, you had seen the disruption in music,

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Speaker 1: you had seen the disruption and scripted TV. But by

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Speaker 1: and large the kind of underwhelming or the overwhelming viewpoint

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Speaker 1: was that live sports was immune to that. And I

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Speaker 1: think what the last five years have shown is that

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Speaker 1: that's not the case. And so I think as it

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Speaker 1: relates to your question about what the outlook from here,

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Speaker 1: you have it its core in the gaming side, a

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Speaker 1: real expansion of online gaming, and a I think a

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Speaker 1: very easy path to you know, a fifteen plus billion

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Speaker 1: dollar total addressable market, and unlike a lot of kind

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Speaker 1: of growth businesses, that growth in TAN is kind of

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Speaker 1: very linear, right, And know how big the sports betting

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Speaker 1: market is in New Jersey, and if Massachusetts legalizes it,

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Speaker 1: I can pretty much gu estimate how big Massachusetts is

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Speaker 1: going to be within a range. And so there's a

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Speaker 1: very clear path for growth and online gaming and the

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Speaker 1: other lens we look at online gaming is also just

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Speaker 1: it's one of the few industries that has yet to

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Speaker 1: really undergo that offline to online shift. And it's not

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Speaker 1: about necessarily moving the same customers, it's about how you

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Speaker 1: grow the market so what we've seen in places like

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Speaker 1: New Jersey and Pennsylvania is online gaming isn't channibalizing land

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Speaker 1: based gaming, it's actually adding to the overall gaming market.

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Speaker 1: And so we think you'll see the next leg of

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Speaker 1: growth and gaming really come from the growth and online

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Speaker 1: because it's happened in every other industry out there. But

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Speaker 1: then where I think it gets really interesting and the opportunity,

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Speaker 1: the breakout opportunity lies is all of this is happening

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Speaker 1: in online gaming at the same time that you're seeing

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Speaker 1: real disruption in the sports media ecosystem and how people

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Speaker 1: tune in, where they tune in, how long they want

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Speaker 1: to tune in is really changing, as is the technology

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Speaker 1: and the availability of sports and a streaming landscape and

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Speaker 1: through streaming media, and that, from my perspective, creates real

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Speaker 1: opportunities because we have the largest database and user base

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Speaker 1: of millennial sports fans that are cord cutters and also

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Speaker 1: have funded wallets with us, and so there's a real

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Speaker 1: role we can play in shaping the next generation of

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Speaker 1: the fan experience because the growth in our industry is

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Speaker 1: really corresponding and to the exact same period of disruption

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Speaker 1: in sports media, and that I think creates a real

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Speaker 1: opportunity to accelerate the business even further and also put

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Speaker 1: a have a big play a big role in what

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Speaker 1: the next generation of sports looks like. Alright, bar you

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Speaker 1: get one last question, is house degenerate? Well, you know what,

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Speaker 1: I want to bring this up. I know that the

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Speaker 1: revenues are going to be down this year because of COVID,

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Speaker 1: But and it goes back to what we were saying earlier,

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Speaker 1: if more states decide, hey, we want to have online

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Speaker 1: gambling too, because that's a great source of revenue for

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Speaker 1: us to have in the COVID nineteen era, it works

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Speaker 1: well for you guys. I'll scratch my back and you

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Speaker 1: scratch yours. Obviously, that can be a big revenue source

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Speaker 1: for you guys to pick up from where COVID nineteen

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Speaker 1: left off. Your thoughts about that? Sure, So yeah, I

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Speaker 1: think two things. Yeah. I think one is and you

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Speaker 1: can see this in some of our publicly disclosed numbers

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Speaker 1: and post COVID business is still growing um and so

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Speaker 1: because of the diversity of our business. Yeah, we've been

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Speaker 1: growing our business even through COVID. So I think when

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Speaker 1: you look back at this year, you'll see that our

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Speaker 1: business grew at a very healthy rate even with COVID.

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Speaker 1: But a broader point about online gaming is exactly right,

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Speaker 1: which is, we do think that there's a huge opportunity there.

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Speaker 1: We do think that, again, it's going to fall into

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Speaker 1: the bucket of common sense legislation where states are going

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Speaker 1: to need tax revenue. We've demonstrated to the existing casino

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Speaker 1: owners time and time again that online gaming is additive

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Speaker 1: to the overall gaming market and it's not cannibalistic, and

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Speaker 1: we can also demonstrate that this is something that customers want.

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Speaker 1: And when you put those three factors together, we think

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Speaker 1: that you're going to see a significant acceleration and the

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Speaker 1: growth of online gaming. Matt King, you're a good guy.

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Speaker 1: Thank you so much for joining us. We really appreciate it.

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Speaker 1: We know it's an important time for business, and we

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Speaker 1: are all happy, and probably no one happier than you

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Speaker 1: that sports are back because it provides an entirely new

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Speaker 1: view of the world and one that provides us some

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Speaker 1: sense of normalcy. So we really appreciate it. I totally

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Speaker 1: agree with that. Thank you very much for having on guys,

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Speaker 1: and uh, stay safe and enjoy the return of sports. Yeah, absolutely,

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Speaker 1: you can catch our podcast right here every Monday, Wednesday

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Speaker 1: and Thursday. I'm Jason Kelly on Twitter. Find me at

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Speaker 1: Jason Kelly News, and I'm Michael Barr. I gotta get

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Speaker 1: down here because I've gotta been on the Yankees game.

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Speaker 1: I'm at Big Bar Sports on Twitter and Bar lost

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Speaker 1: me at three in the pocket on poker on Mike Mike,

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Speaker 1: and I'm Michaelitch. You can find me at Lynch w CVB.

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Speaker 1: And you're listening to Bloomberg Business of Sports from Bloomberg

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Speaker 1: Radio around the world.