1 00:00:01,200 --> 00:00:04,520 Speaker 1: This is the Bloomberg Business of Sports show. We explored 2 00:00:04,519 --> 00:00:07,520 Speaker 1: the big money issues in the world of sports Michael Barr. 3 00:00:07,320 --> 00:00:09,639 Speaker 2: I'm Scarlett Fou and I'm Damian sas Hour. 4 00:00:09,760 --> 00:00:12,119 Speaker 1: Coming up on the show, we talked golf and the 5 00:00:12,280 --> 00:00:16,000 Speaker 1: Masters with someone who's covered a ton of them, longtime 6 00:00:16,040 --> 00:00:18,320 Speaker 1: sports journalists and author and Ligori. 7 00:00:18,520 --> 00:00:22,239 Speaker 3: I interviewed twelve legends and these are all recent interviews. 8 00:00:22,280 --> 00:00:25,200 Speaker 3: Six men and six women, and five of them are 9 00:00:25,320 --> 00:00:29,680 Speaker 3: former Masters champions, and they all talk about what they 10 00:00:29,760 --> 00:00:33,159 Speaker 3: brought from their iconic golf careers that they use in 11 00:00:33,240 --> 00:00:36,560 Speaker 3: life day to day. So it's really life lessons, life 12 00:00:36,640 --> 00:00:39,720 Speaker 3: wisdom and all of this they learned from their iconic 13 00:00:39,760 --> 00:00:40,440 Speaker 3: golf careers. 14 00:00:40,520 --> 00:00:42,320 Speaker 4: We'll also check in on the sports scene in the 15 00:00:42,400 --> 00:00:44,880 Speaker 4: nation's capital after a big deal that could have brought 16 00:00:44,880 --> 00:00:48,040 Speaker 4: the Wizards and Capitals to Virginia that fell through, and 17 00:00:48,120 --> 00:00:51,559 Speaker 4: we'll be speaking with zachly Onsis of Monumental Sports and Entertainment. 18 00:00:51,840 --> 00:00:55,880 Speaker 5: I think you have to look at what do elected 19 00:00:55,920 --> 00:01:00,760 Speaker 5: officials ultimately think rise the best outcome for their constituents. 20 00:01:00,960 --> 00:01:03,840 Speaker 5: There is some competition out there. I think the best 21 00:01:03,840 --> 00:01:07,120 Speaker 5: partnerships are public private ones, which is ultimately going to 22 00:01:07,160 --> 00:01:11,840 Speaker 5: be what our path forward is with Washington DC. 23 00:01:12,319 --> 00:01:15,160 Speaker 1: That is all straight ahead on the Bloomberg Business of Sports. 24 00:01:15,160 --> 00:01:19,320 Speaker 1: But first we check in with longtime friend of the show, 25 00:01:19,640 --> 00:01:23,720 Speaker 1: Bloomberg Original's chief correspondent Jason Kelly. 26 00:01:23,800 --> 00:01:27,119 Speaker 2: Hello again his new show with Alex Rodriguez The Deal 27 00:01:27,319 --> 00:01:30,880 Speaker 2: just dropped its latest episode with Redberg Capital founder and 28 00:01:31,040 --> 00:01:35,960 Speaker 2: managing partner Jerry Cardinal. They talk about his experience investing 29 00:01:36,000 --> 00:01:39,520 Speaker 2: in sports and media, including the creation of the S Network. 30 00:01:39,920 --> 00:01:42,240 Speaker 1: Let's take a listen to that portion of the conversation. 31 00:01:43,319 --> 00:01:47,280 Speaker 6: I mean, this was truly monetizing intellectual property at a 32 00:01:47,319 --> 00:01:51,720 Speaker 6: time in the late nineties early two thousands when mostly 33 00:01:51,800 --> 00:01:55,320 Speaker 6: investing in media and entertainment was around distribution. It was 34 00:01:55,360 --> 00:01:58,960 Speaker 6: cable systems, it was outdoor billboards, radio station's, TV stations. 35 00:01:59,200 --> 00:02:03,040 Speaker 6: No one really invested in intellectual property. And today that 36 00:02:03,080 --> 00:02:05,600 Speaker 6: would be just a no brainer and everyone would get it. 37 00:02:05,880 --> 00:02:09,040 Speaker 6: George Steinbrenner came calling and he had just broken away 38 00:02:09,120 --> 00:02:13,600 Speaker 6: from Cablevision in MSG and the story he told was fascinating, 39 00:02:13,760 --> 00:02:16,639 Speaker 6: And what he basically said was I don't understand how 40 00:02:16,800 --> 00:02:19,359 Speaker 6: I can be putting all the risk capital in to 41 00:02:19,520 --> 00:02:21,720 Speaker 6: put these players on the field year in and year 42 00:02:21,760 --> 00:02:24,200 Speaker 6: out to win a championship, and I just get paid 43 00:02:24,240 --> 00:02:27,760 Speaker 6: a fee for the monetization of those games, and my 44 00:02:28,120 --> 00:02:32,440 Speaker 6: counterparty gets the appreciation in a stock price That doesn't 45 00:02:32,440 --> 00:02:34,480 Speaker 6: seem fair to me. When he put it that way. 46 00:02:34,560 --> 00:02:36,800 Speaker 6: I mean, you know, George was such a visionary. The 47 00:02:36,880 --> 00:02:40,040 Speaker 6: light bulbs went off in our head and we were like, wow, 48 00:02:40,040 --> 00:02:42,120 Speaker 6: I never really thought about it that way. I think 49 00:02:42,120 --> 00:02:47,800 Speaker 6: this was like February of two thousand and one, and 50 00:02:47,880 --> 00:02:50,120 Speaker 6: we started sort of looking at, well, could we create 51 00:02:50,120 --> 00:02:52,639 Speaker 6: our own network? And so make a long story short, 52 00:02:53,240 --> 00:02:55,359 Speaker 6: you know, I was a thirty three year old vice 53 00:02:55,400 --> 00:02:58,040 Speaker 6: president at the time, and I started building the model. 54 00:02:58,080 --> 00:03:01,360 Speaker 6: I knew nothing about sports. I was from Philadelphia, so 55 00:03:01,400 --> 00:03:02,919 Speaker 6: I only known about Phillies. Don't think I'd ever. 56 00:03:02,880 --> 00:03:03,720 Speaker 7: Seen a Yankee game. 57 00:03:04,639 --> 00:03:09,639 Speaker 6: And you know, by September, coming out of Labor Day, 58 00:03:10,160 --> 00:03:12,640 Speaker 6: we basically had the outlines of what would become the 59 00:03:12,680 --> 00:03:16,040 Speaker 6: Yes Network, and we signed that deal and handshook on 60 00:03:16,120 --> 00:03:18,919 Speaker 6: that September tenth, two thousand and one. 61 00:03:19,280 --> 00:03:23,320 Speaker 1: Wow. Here now to take us through that conversation and 62 00:03:23,520 --> 00:03:29,320 Speaker 1: more is mister Jason Kelly. Jason, Welcome back to the 63 00:03:29,360 --> 00:03:31,079 Speaker 1: Bloomberg Business of Sports. 64 00:03:31,240 --> 00:03:34,200 Speaker 8: Always good to be here with you, Bar and team. Yeah, 65 00:03:34,200 --> 00:03:36,200 Speaker 8: this was a really really fun one. I mean, in 66 00:03:36,320 --> 00:03:39,320 Speaker 8: part because I think, like you guys, I love the 67 00:03:39,600 --> 00:03:42,040 Speaker 8: behind the scenes stories, you know. I mean, Jerry has 68 00:03:42,080 --> 00:03:48,960 Speaker 8: been this almost Zelig like figure throughout this intersection of business, sports, media, technology, 69 00:03:49,240 --> 00:03:52,880 Speaker 8: entertainment through the years, and you know, especially for the 70 00:03:52,920 --> 00:03:55,040 Speaker 8: Yankee fans out there, I think the creation of the 71 00:03:55,320 --> 00:03:59,160 Speaker 8: Yes Network was huge. But even just being in the 72 00:03:59,280 --> 00:04:02,600 Speaker 8: room as he was so often and in such an 73 00:04:02,600 --> 00:04:06,320 Speaker 8: important way with the boss George Steinbrenner and the Steinbrenner family, 74 00:04:06,720 --> 00:04:09,360 Speaker 8: it's really cool to hear and I dare say it's 75 00:04:09,360 --> 00:04:11,800 Speaker 8: really cool to hear the two of them, Alex and 76 00:04:12,200 --> 00:04:13,920 Speaker 8: Jerry talk a lot about that. 77 00:04:14,640 --> 00:04:18,279 Speaker 4: Given how big the business of sports is now, he 78 00:04:18,360 --> 00:04:21,400 Speaker 4: seems visionary. But at the time when he was at 79 00:04:21,400 --> 00:04:23,240 Speaker 4: Goldman and then kind of moved away from that to 80 00:04:23,720 --> 00:04:26,040 Speaker 4: go dabble in investing in sports, it seemed like kind 81 00:04:26,040 --> 00:04:27,160 Speaker 4: of a crazy move. 82 00:04:27,400 --> 00:04:31,080 Speaker 8: It did seem a little bit, you know, maybe not outlandish, 83 00:04:31,080 --> 00:04:34,039 Speaker 8: but certainly like okay, like good for you, guy, Like 84 00:04:34,240 --> 00:04:36,719 Speaker 8: you go do that, you know, and you sort of 85 00:04:36,800 --> 00:04:39,440 Speaker 8: you know, we talk a lot at Bloomberg about Goldman 86 00:04:39,480 --> 00:04:41,920 Speaker 8: and the power of Goldman, and you know, I think 87 00:04:41,960 --> 00:04:44,880 Speaker 8: even some of the partners, they are like, oh, yeah, 88 00:04:44,880 --> 00:04:47,359 Speaker 8: that's the guy who does the sports stuff, and you know, 89 00:04:47,560 --> 00:04:50,600 Speaker 8: he does some stuff with the Yankees or whatever. But meanwhile, 90 00:04:50,760 --> 00:04:53,640 Speaker 8: I think Jerry really was seeing a lot of what 91 00:04:53,839 --> 00:04:57,880 Speaker 8: to your point, Scar is so apparent now that the 92 00:04:58,080 --> 00:05:01,760 Speaker 8: lens of sport where it's you know, just opens up, 93 00:05:02,080 --> 00:05:05,280 Speaker 8: you know, all of these massive business opportunities, and it's 94 00:05:05,360 --> 00:05:08,440 Speaker 8: just it's it's remarkable to see how he has you know, 95 00:05:08,600 --> 00:05:11,800 Speaker 8: literally and figuratively sort of leveraged that into what Redbird 96 00:05:11,800 --> 00:05:12,599 Speaker 8: has become today. 97 00:05:13,080 --> 00:05:15,000 Speaker 2: Jason, I can see how you're a bit blinded by 98 00:05:15,080 --> 00:05:18,360 Speaker 2: Jerry's role with the Yankees or Steinbrand, I mean, deformed 99 00:05:18,480 --> 00:05:21,679 Speaker 2: legends entertainment for crying out loud, But what I loved, 100 00:05:21,880 --> 00:05:23,240 Speaker 2: I mean, did you were you able to speak to 101 00:05:23,279 --> 00:05:26,240 Speaker 2: him about all the other people he's been involved with 102 00:05:26,279 --> 00:05:29,240 Speaker 2: over the course of his career. I'm thinking NBZ in 103 00:05:29,279 --> 00:05:33,320 Speaker 2: the Middle East, I'm thinking Matt Damon, Ben affleck Ron James. 104 00:05:33,360 --> 00:05:34,520 Speaker 2: I mean, did he go into any. 105 00:05:34,400 --> 00:05:37,120 Speaker 8: Event totally yeah, I mean, and that's that's what is 106 00:05:37,160 --> 00:05:41,320 Speaker 8: so interesting about him, Damien, is that you know, the 107 00:05:41,400 --> 00:05:44,360 Speaker 8: Yankees were something Yankees Goldman, you know, obviously we're sort 108 00:05:44,360 --> 00:05:47,520 Speaker 8: of a springboard, and that gave him a huge amount 109 00:05:47,520 --> 00:05:50,080 Speaker 8: of credibility. I mean, one of the most incredible things 110 00:05:50,120 --> 00:05:52,640 Speaker 8: I think he's been involved in, uh, just because of 111 00:05:52,680 --> 00:05:55,040 Speaker 8: the personality is involved you alluded to, which is legends. 112 00:05:55,240 --> 00:05:57,960 Speaker 8: I mean, think about something that brings together Goldman, Sachs, 113 00:05:58,160 --> 00:06:00,359 Speaker 8: the New York Yankees, and the Dallas Cowboys. It's like 114 00:06:00,440 --> 00:06:04,720 Speaker 8: boom into into one thing. And you know, that was 115 00:06:05,000 --> 00:06:08,159 Speaker 8: based on a series of conversations that he had with 116 00:06:08,240 --> 00:06:10,680 Speaker 8: none other than Jerry Jones. And obviously he had the 117 00:06:10,720 --> 00:06:11,719 Speaker 8: Steinbrenner connection. 118 00:06:12,080 --> 00:06:12,320 Speaker 1: You know. 119 00:06:12,560 --> 00:06:16,279 Speaker 8: The other really interesting partner that Jerry has in my 120 00:06:16,440 --> 00:06:19,400 Speaker 8: mind or the partners is joined the Rock Johnson and 121 00:06:19,480 --> 00:06:22,600 Speaker 8: Danny Garcia, who are his co founders of you know 122 00:06:22,600 --> 00:06:26,279 Speaker 8: what's now the UFL, but they resurrected the XFL the 123 00:06:26,360 --> 00:06:29,720 Speaker 8: third go round of that and sort of the ability 124 00:06:29,760 --> 00:06:32,000 Speaker 8: to sort of see around the corner, see that there 125 00:06:32,160 --> 00:06:35,400 Speaker 8: was still something there and form it into something that 126 00:06:35,480 --> 00:06:37,599 Speaker 8: I mean, it is now the definitive you know, spring 127 00:06:37,640 --> 00:06:41,279 Speaker 8: gridiron football product. And to sort of put all that 128 00:06:41,360 --> 00:06:43,200 Speaker 8: together is really interesting. 129 00:06:43,400 --> 00:06:45,640 Speaker 1: I want to go back to the Yes Network because that, 130 00:06:46,320 --> 00:06:50,240 Speaker 1: to me, that's a beautiful creation that Jerry made. But 131 00:06:50,560 --> 00:06:54,080 Speaker 1: is he concerned now because the landscape is changing about 132 00:06:54,120 --> 00:06:55,320 Speaker 1: regional sports networks? 133 00:06:55,400 --> 00:06:56,200 Speaker 7: It's a great question. 134 00:06:56,240 --> 00:07:00,360 Speaker 8: I mean, definitely concerned and I think probably thinking of about, 135 00:07:00,520 --> 00:07:04,280 Speaker 8: you know, what's the next version of this, which I mean, listen, 136 00:07:04,360 --> 00:07:05,960 Speaker 8: if he figures that out, I mean, he's going to 137 00:07:06,000 --> 00:07:09,840 Speaker 8: make another few billion dollars. Obviously, it's a it's a 138 00:07:09,840 --> 00:07:13,200 Speaker 8: fascinating space for sure. You know, you have these regional 139 00:07:13,240 --> 00:07:16,400 Speaker 8: sports networks that are you know, kind of limping along. 140 00:07:16,520 --> 00:07:20,360 Speaker 8: But you've got the different leagues obviously, and you guys, 141 00:07:20,480 --> 00:07:22,800 Speaker 8: I know, get into this a lot, you know, figuring 142 00:07:22,880 --> 00:07:25,960 Speaker 8: out what their relationship should be there. 143 00:07:26,000 --> 00:07:27,120 Speaker 7: I mean Baseball, I. 144 00:07:27,080 --> 00:07:29,680 Speaker 8: Think, you know, to the underpinning of your question, Bar 145 00:07:30,400 --> 00:07:35,080 Speaker 8: has one of the you know, trickiest relationships because we're 146 00:07:35,120 --> 00:07:39,120 Speaker 8: at this moment with baseball where it's not drawn a 147 00:07:39,120 --> 00:07:41,320 Speaker 8: whole lot of new fans. It's really trying to hang 148 00:07:41,360 --> 00:07:43,520 Speaker 8: on to you know a lot of people like us 149 00:07:43,560 --> 00:07:46,000 Speaker 8: who really love the game, and so how do you 150 00:07:46,040 --> 00:07:48,120 Speaker 8: get to those people, How do you get to them 151 00:07:48,240 --> 00:07:50,360 Speaker 8: in a way that it's a product that they really 152 00:07:50,760 --> 00:07:51,880 Speaker 8: that they really want to consume. 153 00:07:52,000 --> 00:07:52,200 Speaker 7: Yeah. 154 00:07:52,240 --> 00:07:54,720 Speaker 4: Also, baseball has what one hundred and sixty two games 155 00:07:54,720 --> 00:07:57,920 Speaker 4: a season per team, So that's a lot of games 156 00:07:57,920 --> 00:08:00,440 Speaker 4: that not everyone needs to watch versus safety ball, where 157 00:08:00,440 --> 00:08:03,120 Speaker 4: it's any given Sunday and the stakes are really high. 158 00:08:03,480 --> 00:08:05,880 Speaker 4: Jerry Cardinal has been involved in so many big deals 159 00:08:05,880 --> 00:08:09,200 Speaker 4: in the sports industry, in the business world. Just recap 160 00:08:09,240 --> 00:08:12,120 Speaker 4: for us again what he has an ownership stake in 161 00:08:12,200 --> 00:08:12,679 Speaker 4: right now. 162 00:08:12,760 --> 00:08:15,760 Speaker 8: Well, what's interesting right now is that he's clearly going 163 00:08:16,400 --> 00:08:19,440 Speaker 8: all in on, you know, some of the big tier sports, 164 00:08:19,560 --> 00:08:22,840 Speaker 8: especially European football. And what's interaling is he sort of 165 00:08:22,880 --> 00:08:25,600 Speaker 8: has that in two ways. One is through Fenway Sports Group, 166 00:08:25,640 --> 00:08:28,680 Speaker 8: of which Redbird is an investor and you know, a 167 00:08:28,760 --> 00:08:32,160 Speaker 8: significant investor, and they of course own the Boston Red 168 00:08:32,200 --> 00:08:36,559 Speaker 8: Sox and the Pittsburgh Penguins, but importantly for this conversation, 169 00:08:36,679 --> 00:08:40,360 Speaker 8: they on Liverpool LEFC. Now, he took some of that 170 00:08:40,520 --> 00:08:45,880 Speaker 8: knowledge and leveraged that again into AC Milan, which is 171 00:08:45,960 --> 00:08:51,440 Speaker 8: probably his biggest tier or sort of what's the word 172 00:08:51,440 --> 00:08:54,320 Speaker 8: I'm looking for, sort of the highest profile Yeah, ownership, 173 00:08:54,360 --> 00:08:57,640 Speaker 8: I think right now. Ac Milan, the storied Italian soccer club. 174 00:08:58,120 --> 00:09:00,720 Speaker 8: He actually bought it from Elliott Management, and it's had, 175 00:09:00,800 --> 00:09:02,880 Speaker 8: you know, as a lot of these clubs have sort 176 00:09:02,920 --> 00:09:05,960 Speaker 8: of a tortured business history that I think is one 177 00:09:06,000 --> 00:09:08,240 Speaker 8: of the most interesting ones. And that is also putting 178 00:09:08,360 --> 00:09:12,120 Speaker 8: him in a really different category, putting Jerry and Redbird 179 00:09:12,320 --> 00:09:14,319 Speaker 8: in a very different category in terms of sort of 180 00:09:14,400 --> 00:09:16,280 Speaker 8: the echelon of the global sports. 181 00:09:16,320 --> 00:09:17,720 Speaker 4: Yeah, he's competing with Middle Eastern money. 182 00:09:17,840 --> 00:09:20,080 Speaker 7: Yes, exactly, a great point, you know, Jason, I have 183 00:09:20,120 --> 00:09:20,480 Speaker 7: to ask you. 184 00:09:20,520 --> 00:09:21,280 Speaker 1: I mean, I have to go back. 185 00:09:21,280 --> 00:09:24,040 Speaker 2: I didn't, you know, I forgot that he negotiated the 186 00:09:24,120 --> 00:09:26,680 Speaker 2: rights to XFL. I think Vince McMahon, I mean, so 187 00:09:26,760 --> 00:09:28,960 Speaker 2: think about it. I mean, Jerry's dealt with people like 188 00:09:29,040 --> 00:09:32,959 Speaker 2: George Steinbrenner, Jerry Jones, Vince McMahon, Tom Cruise. I think 189 00:09:32,960 --> 00:09:35,160 Speaker 2: he did talk good Maverick. I mean, these are not 190 00:09:35,320 --> 00:09:38,400 Speaker 2: easy people to get along well with in the sandbox, 191 00:09:38,720 --> 00:09:41,320 Speaker 2: you know. Talk to me about how Jerry spends his time. 192 00:09:41,360 --> 00:09:44,120 Speaker 2: I mean, is he doing deals with people like this? 193 00:09:44,440 --> 00:09:46,160 Speaker 2: Is he is he pitching deals? 194 00:09:46,200 --> 00:09:47,959 Speaker 7: I mean yeah, I mean I think it's all of 195 00:09:48,000 --> 00:09:48,400 Speaker 7: the above. 196 00:09:48,480 --> 00:09:51,720 Speaker 8: I mean, honestly, I mean I think and again this 197 00:09:51,800 --> 00:09:55,040 Speaker 8: goes to a very familiar and comfortable place for those 198 00:09:55,080 --> 00:09:57,080 Speaker 8: of us you know, who worked at Bloomberg for a 199 00:09:57,080 --> 00:09:59,559 Speaker 8: long time. You know that training at Goldman Sachs is 200 00:09:59,600 --> 00:10:03,400 Speaker 8: a deal. You know, you can't overlook the currency that 201 00:10:03,400 --> 00:10:06,920 Speaker 8: that hasn't also the playbook that you develop in terms 202 00:10:06,960 --> 00:10:11,000 Speaker 8: of being able to put together put together deals, put 203 00:10:11,000 --> 00:10:14,000 Speaker 8: together complex deals. And to your point, Damien, you know, 204 00:10:14,240 --> 00:10:18,840 Speaker 8: really corral massive egos, massive amounts of money. And so 205 00:10:18,960 --> 00:10:21,760 Speaker 8: I think he is he is the very definition of 206 00:10:21,800 --> 00:10:24,680 Speaker 8: a globe trotting deal maker at this point. You know, 207 00:10:24,720 --> 00:10:28,960 Speaker 8: you you mentioned the association with Abu Dhabi. You know, 208 00:10:29,080 --> 00:10:32,760 Speaker 8: clearly he's understanding to your point earlier Scarlett, sort of 209 00:10:32,800 --> 00:10:35,560 Speaker 8: the importance of sovereign wealth funds in this you know, 210 00:10:35,679 --> 00:10:40,479 Speaker 8: kind of capital stack that is behind the global sports industry. 211 00:10:41,000 --> 00:10:44,679 Speaker 8: And you know, I think it's interesting too, Damien, you know, 212 00:10:45,080 --> 00:10:48,800 Speaker 8: to that question to think about the entertainment side of 213 00:10:48,840 --> 00:10:51,400 Speaker 8: this too, because I think, I mean, just think for 214 00:10:51,400 --> 00:10:54,040 Speaker 8: a minute about the Rock you know, I mean Dwayne Johnson, 215 00:10:54,040 --> 00:10:56,440 Speaker 8: you know, and and all that he has done to 216 00:10:56,559 --> 00:10:59,280 Speaker 8: pull together you know, not just the sports side, given 217 00:10:59,280 --> 00:11:02,840 Speaker 8: his background, the entertainment side as well. You know, for 218 00:11:02,880 --> 00:11:05,080 Speaker 8: those of us who pay attention to these things, mawana 219 00:11:05,120 --> 00:11:06,040 Speaker 8: iw coming. 220 00:11:05,720 --> 00:11:08,960 Speaker 7: Out this fall, you know I was. 221 00:11:09,280 --> 00:11:09,640 Speaker 1: I'm sorry. 222 00:11:09,679 --> 00:11:11,359 Speaker 7: You didn't see that one coming, didj youbar. 223 00:11:11,240 --> 00:11:15,000 Speaker 1: I didn't see that one at all. Go ahead, I'm sorry, David, 224 00:11:15,040 --> 00:11:15,679 Speaker 1: Go ahead. 225 00:11:15,559 --> 00:11:17,440 Speaker 2: No, Michael, I was just going to say a lot 226 00:11:17,440 --> 00:11:19,920 Speaker 2: of people forget that I started my career at Coleman Sachs. Also, 227 00:11:20,000 --> 00:11:21,880 Speaker 2: please continue, no. 228 00:11:23,760 --> 00:11:24,280 Speaker 7: Name drop. 229 00:11:24,880 --> 00:11:31,280 Speaker 8: Sorry, there's something in the studio. Oh it's the name that. 230 00:11:31,080 --> 00:11:34,920 Speaker 1: I was all set to brag about my bracket. I 231 00:11:36,480 --> 00:11:39,880 Speaker 1: have one hundred and twenty seven points in the Men's 232 00:11:40,040 --> 00:11:44,000 Speaker 1: NCAA bracket, yep, and I think I'm like four hundred 233 00:11:44,160 --> 00:11:47,679 Speaker 1: somewhere out of fourteen thousand whatever. 234 00:11:47,880 --> 00:11:52,280 Speaker 2: All right, all right, Mike Humble bracketar He is in 235 00:11:52,360 --> 00:11:55,120 Speaker 2: twenty seventh place in the firm, which is saying something. 236 00:11:55,440 --> 00:11:58,520 Speaker 2: It was outside of the top one hundred globally, which 237 00:11:58,559 --> 00:12:01,440 Speaker 2: is saying something more. But I mean, my goodness, you 238 00:12:01,480 --> 00:12:04,480 Speaker 2: would have won brackets for a cause this year. Whitney 239 00:12:04,520 --> 00:12:07,400 Speaker 2: Wolf heard of the Bumble founder and CEO, is currently 240 00:12:07,440 --> 00:12:11,160 Speaker 2: in first. She has Yukon beating Perdue. It's hers to lose, 241 00:12:11,200 --> 00:12:13,640 Speaker 2: but right behind her Joe Reese of Silver Box. I'll 242 00:12:13,640 --> 00:12:18,480 Speaker 2: tell you this if Purdue does win. Steve Pagliukas has 243 00:12:18,520 --> 00:12:21,720 Speaker 2: an otside shot of winning the whole thing, So it's interesting. 244 00:12:21,440 --> 00:12:25,120 Speaker 8: Well, Steve Palayuka would That would be huge, Damien because 245 00:12:25,160 --> 00:12:28,360 Speaker 8: he would be the first ever not just repeat winner, 246 00:12:28,640 --> 00:12:30,679 Speaker 8: he would be the first ever back to back winner. 247 00:12:30,720 --> 00:12:33,200 Speaker 8: He won the men's bracket last year, so he has 248 00:12:33,280 --> 00:12:36,240 Speaker 8: got a lot at stake. But you're right, he's the 249 00:12:36,240 --> 00:12:42,320 Speaker 8: only one in the top fifteen that has perdue winning. 250 00:12:42,360 --> 00:12:46,199 Speaker 8: I mean that's a pretty bold call based on how 251 00:12:46,200 --> 00:12:47,240 Speaker 8: things are trending right now. 252 00:12:47,280 --> 00:12:49,320 Speaker 1: Well, I was just looking at your bracket in the 253 00:12:49,320 --> 00:12:52,520 Speaker 1: women's yep, and shoot, man, you got one hundred and 254 00:12:52,559 --> 00:12:53,439 Speaker 1: thirty three points. 255 00:12:53,600 --> 00:12:54,640 Speaker 7: Yeah, I'm doing okay. 256 00:12:54,800 --> 00:12:57,559 Speaker 8: I've got okay on the on the women's side, and 257 00:12:57,640 --> 00:13:01,120 Speaker 8: you know, on the brackets for a cause side of 258 00:13:01,120 --> 00:13:03,560 Speaker 8: that equation. Don Cornwell, who I think a lot of 259 00:13:03,559 --> 00:13:06,480 Speaker 8: you guys know, longtime banker in the sports world, now 260 00:13:06,520 --> 00:13:09,640 Speaker 8: the co founder of Dynasty Equity with Jonathan Nelson. He 261 00:13:09,840 --> 00:13:12,959 Speaker 8: is currently tied for first with Peter Weinberg over at Pirella. 262 00:13:12,960 --> 00:13:17,040 Speaker 8: Weinberg everybody for I shouldn't say everybody, A lot of 263 00:13:17,040 --> 00:13:21,480 Speaker 8: people have South Carolina. Peter Weinberg actually has Connecticut winning. 264 00:13:22,200 --> 00:13:26,360 Speaker 8: Javier Rodriguez, the Davida CEO. He's actually the only person 265 00:13:26,440 --> 00:13:28,560 Speaker 8: across all the brackets for a cause. And remember this 266 00:13:28,760 --> 00:13:32,400 Speaker 8: is a million dollar plus charity tournament that Bloomberg puts on. 267 00:13:33,200 --> 00:13:36,000 Speaker 8: Javier was the only one who got in either bracket 268 00:13:36,200 --> 00:13:39,440 Speaker 8: a perfect final four, so he was the only one NC, 269 00:13:39,640 --> 00:13:44,320 Speaker 8: Stay Carolina, South Carolina in that case, Iowa and the 270 00:13:44,360 --> 00:13:45,200 Speaker 8: Yukon Huskies. 271 00:13:45,240 --> 00:13:47,760 Speaker 7: So he's he's looking pretty good. He's got Iowa winning 272 00:13:47,800 --> 00:13:48,040 Speaker 7: it all. 273 00:13:48,440 --> 00:13:51,199 Speaker 1: Yeah, I could see that. Now wait, let me take 274 00:13:51,240 --> 00:13:53,000 Speaker 1: that back. I can see Iowa winning it all. 275 00:13:53,240 --> 00:13:56,920 Speaker 8: But South Carolina is tough, I mean, and Iowa South 276 00:13:56,920 --> 00:14:01,680 Speaker 8: Carolina final would be epic. I mean the semi final 277 00:14:01,760 --> 00:14:03,280 Speaker 8: is going to be epic too. I mean Kaitlyn Clark 278 00:14:03,360 --> 00:14:06,480 Speaker 8: versus Paige Beckers, I mean, that's probably the best like 279 00:14:06,559 --> 00:14:09,440 Speaker 8: player to player matchup, you know, maybe second only to 280 00:14:09,600 --> 00:14:10,800 Speaker 8: Angel Reese. 281 00:14:10,400 --> 00:14:12,640 Speaker 7: And Kitlyn Clark, which we saw earlier this week. 282 00:14:12,760 --> 00:14:15,560 Speaker 8: I mean, as you guys probably saw twelve million plus 283 00:14:15,600 --> 00:14:20,360 Speaker 8: people watch that game, blowing away the ratings and the 284 00:14:20,440 --> 00:14:23,200 Speaker 8: and the viewership for last year's final on the women's side. 285 00:14:23,320 --> 00:14:26,600 Speaker 8: To me, that is the story of this tournament this 286 00:14:26,680 --> 00:14:31,160 Speaker 8: year is just the exploding popularity of women's college basketball. 287 00:14:31,360 --> 00:14:35,680 Speaker 1: And to quote Lizzo, it's about damn time they got. 288 00:14:37,520 --> 00:14:38,160 Speaker 7: Lizzo. 289 00:14:38,240 --> 00:14:40,080 Speaker 8: I mean, there's just something for everybody here on the 290 00:14:40,080 --> 00:14:41,680 Speaker 8: Blueberry Parts, isn't there. 291 00:14:42,320 --> 00:14:46,600 Speaker 1: Jason Kelly, thank you, my man, you old friend of 292 00:14:46,640 --> 00:14:47,080 Speaker 1: the show. 293 00:14:47,280 --> 00:14:48,360 Speaker 7: I'll get you again. 294 00:14:48,440 --> 00:14:52,000 Speaker 4: Sometimes Michael Barr really surprises us with the contemporary references. 295 00:14:53,120 --> 00:14:55,840 Speaker 4: One minu Lizzo and then another mannoube Detroit Lions in 296 00:14:55,880 --> 00:14:58,520 Speaker 4: the seventies. You know, I'm I'm. 297 00:14:58,320 --> 00:15:01,080 Speaker 1: Old, and then I'll have a moment of that I'm 298 00:15:01,440 --> 00:15:07,040 Speaker 1: Riney Larity. By the way, check out Jason and Alex 299 00:15:07,120 --> 00:15:10,560 Speaker 1: Rodriguez on The Deal. Don't miss the latest episode of 300 00:15:10,560 --> 00:15:14,560 Speaker 1: The Deal. It is coming up with Redbird Capitol founder 301 00:15:14,600 --> 00:15:19,400 Speaker 1: and managing partner Jerry Cartnahill and by the way, a 302 00:15:19,440 --> 00:15:24,320 Speaker 1: great show Scarlett's. I can't believe they've already airing the 303 00:15:24,360 --> 00:15:25,120 Speaker 1: six to one Alrea. 304 00:15:25,320 --> 00:15:27,840 Speaker 4: I know, but you know. You can watch this particular 305 00:15:27,880 --> 00:15:31,040 Speaker 4: episode on Friday at seven pm Eastern on Bloomberg Television. 306 00:15:31,080 --> 00:15:33,720 Speaker 4: You can stream it Thursdays at nine pm Eastern on 307 00:15:33,800 --> 00:15:35,920 Speaker 4: Bloomberg Originals, but you can also find it wherever you 308 00:15:35,960 --> 00:15:38,680 Speaker 4: get your podcasts as well, and that will be on demand. 309 00:15:39,040 --> 00:15:41,360 Speaker 1: Coming up, we turned to golf with a preview of 310 00:15:41,400 --> 00:15:44,320 Speaker 1: the Masters. You're listening to the Bloomberg Business of Sports 311 00:15:44,360 --> 00:15:49,040 Speaker 1: from Bloomberg Radio. Around the world, You're listening to Bloomberg 312 00:15:49,200 --> 00:15:53,800 Speaker 1: Business of Sports from Bloomberg Radio. This is the Bloomberg 313 00:15:53,840 --> 00:15:55,960 Speaker 1: Business of Sports show where we explore the big money 314 00:15:56,000 --> 00:15:57,120 Speaker 1: issues in the world of sports. 315 00:15:57,120 --> 00:15:59,880 Speaker 2: On Michael barn I'm Scarlett Fool and I'm Beamianspas hour. 316 00:16:00,120 --> 00:16:02,880 Speaker 1: With the Masters coming up, we wanted to do a 317 00:16:03,000 --> 00:16:05,160 Speaker 1: check in on the state of golf and some of 318 00:16:05,160 --> 00:16:06,960 Speaker 1: the big headlines with and Legori. 319 00:16:07,200 --> 00:16:10,120 Speaker 4: She's covered over twenty Masters and dozens of other major 320 00:16:10,160 --> 00:16:11,560 Speaker 4: tournaments and championships. 321 00:16:11,640 --> 00:16:14,280 Speaker 2: Plus she has a new book out Life on the Green, 322 00:16:14,400 --> 00:16:16,840 Speaker 2: Lessons and Wisdom from Legends of Golf. 323 00:16:16,920 --> 00:16:19,880 Speaker 1: And welcome to the Bloomberg Business of Sports. 324 00:16:20,120 --> 00:16:22,960 Speaker 3: Hey, it's great to be joining you and looking forward 325 00:16:23,040 --> 00:16:25,040 Speaker 3: to another Masters. Can't wait. 326 00:16:25,960 --> 00:16:30,440 Speaker 1: I have to give a personal disclosure here. My mother's 327 00:16:30,480 --> 00:16:34,480 Speaker 1: family is from Augusta, Georgia, and they used to talk 328 00:16:34,520 --> 00:16:36,720 Speaker 1: about the Masters all the time. I mean, this goes 329 00:16:36,760 --> 00:16:40,200 Speaker 1: back to the old Bobby Jones days when they were 330 00:16:40,200 --> 00:16:45,440 Speaker 1: talking about the Masters, and I always revered that place 331 00:16:45,520 --> 00:16:47,680 Speaker 1: every time I had the chance to drive by it. 332 00:16:49,000 --> 00:16:53,440 Speaker 1: Can you talk about for people who have forgotten how 333 00:16:53,560 --> 00:16:59,440 Speaker 1: important the Masters is? Remind us this is probably for 334 00:16:59,600 --> 00:17:02,360 Speaker 1: me one of the biggest tournaments in my heart. 335 00:17:02,640 --> 00:17:06,399 Speaker 3: Well, absolutely, it is just so significant. And if you 336 00:17:06,520 --> 00:17:09,600 Speaker 3: ask most of the guys who play it, you know, 337 00:17:09,640 --> 00:17:13,400 Speaker 3: it's the first major on the men's calendar, and they 338 00:17:13,440 --> 00:17:16,480 Speaker 3: probably will say it's the most important title to win, 339 00:17:16,560 --> 00:17:19,840 Speaker 3: the most coveted title. It's just such a special place. 340 00:17:19,920 --> 00:17:24,320 Speaker 3: Obviously unlike the other majors. It's in the same location 341 00:17:24,520 --> 00:17:28,359 Speaker 3: every year at Augusta National in Agusta, Georgia, and it's 342 00:17:28,400 --> 00:17:32,439 Speaker 3: just so pristine and beautiful. There's so much rich history, 343 00:17:32,560 --> 00:17:35,399 Speaker 3: as you mentioned with Bobby Jones, and you know, no 344 00:17:35,480 --> 00:17:38,760 Speaker 3: blade of grass is out of place. It's probably the 345 00:17:38,800 --> 00:17:43,359 Speaker 3: most coveted and most expensive badge or ticket to get 346 00:17:43,640 --> 00:17:46,640 Speaker 3: in golf and most of sports. And you know, it's 347 00:17:46,720 --> 00:17:50,120 Speaker 3: just a very very special place. Spring is in the air, 348 00:17:50,200 --> 00:17:53,680 Speaker 3: that magnolia's and azaleas are in full blue, and it's 349 00:17:53,720 --> 00:17:56,160 Speaker 3: just heaven on earth. What else can I say? 350 00:17:56,520 --> 00:17:58,480 Speaker 2: Well, and I mean I mean, give us a little 351 00:17:58,480 --> 00:18:00,399 Speaker 2: bit more color there I mean, you've covered all the lee. 352 00:18:00,720 --> 00:18:04,000 Speaker 2: You know, I can't even imagine twenty five Masters. I 353 00:18:04,000 --> 00:18:06,040 Speaker 2: mean I think you've played it even three times. I mean, 354 00:18:06,080 --> 00:18:07,560 Speaker 2: you could tell us all about that, But you know, 355 00:18:07,840 --> 00:18:10,440 Speaker 2: when we're watching from television, I mean, you just can't 356 00:18:10,440 --> 00:18:13,200 Speaker 2: get a real sense of just I mean, just how 357 00:18:13,240 --> 00:18:16,960 Speaker 2: difficult that course is. How you know, you know the greens, 358 00:18:17,000 --> 00:18:19,240 Speaker 2: everything that goes hand in hand. But you know, my 359 00:18:19,320 --> 00:18:21,760 Speaker 2: real question for you is one Tiger Woods. You just 360 00:18:21,880 --> 00:18:24,639 Speaker 2: arrived in Augusta a few days back. I mean, what 361 00:18:24,720 --> 00:18:26,480 Speaker 2: are your thoughts. I mean, you've covered i mean the 362 00:18:26,520 --> 00:18:28,679 Speaker 2: majority of his major titles. You know, talk to us 363 00:18:28,680 --> 00:18:31,000 Speaker 2: a little bit about you know, what expectations are for 364 00:18:31,040 --> 00:18:33,320 Speaker 2: Tiger Woods. I think he's what one hundred and one 365 00:18:33,400 --> 00:18:36,399 Speaker 2: thirty maybe even one fifty to one to win. But 366 00:18:36,520 --> 00:18:38,000 Speaker 2: I mean, you know, talk to us a little bit 367 00:18:38,000 --> 00:18:41,240 Speaker 2: about you know, him just making the cut right. 368 00:18:41,440 --> 00:18:44,760 Speaker 3: Well, obviously, I was there in twenty nineteen with the 369 00:18:44,800 --> 00:18:48,040 Speaker 3: biggest comeback story in sports, right when Tiger won his 370 00:18:48,200 --> 00:18:52,560 Speaker 3: fifth Master's title and his fifteenth the major title. And 371 00:18:52,800 --> 00:18:55,719 Speaker 3: that was so improbable based on all the injuries and 372 00:18:55,880 --> 00:19:01,119 Speaker 3: back issues and controversy that basically donated his life in 373 00:19:01,160 --> 00:19:05,119 Speaker 3: all those years previous. But yeah, I mean, he he's 374 00:19:05,160 --> 00:19:08,160 Speaker 3: going to He knows that the course like the back 375 00:19:08,200 --> 00:19:10,359 Speaker 3: of his hand, right, and he's going for it. I 376 00:19:10,400 --> 00:19:14,080 Speaker 3: believe it's twenty fourth that's cut, which would be a record. 377 00:19:14,680 --> 00:19:19,080 Speaker 3: And he can never say never with Tiger. I mean 378 00:19:19,240 --> 00:19:23,160 Speaker 3: he's only played around and a half literally, not even 379 00:19:23,200 --> 00:19:27,840 Speaker 3: that this year of official tournament play the Genesis, and 380 00:19:28,240 --> 00:19:31,399 Speaker 3: he pulled out of that because of the flu. But 381 00:19:31,640 --> 00:19:33,520 Speaker 3: he had had backspat and it was the first day 382 00:19:33,520 --> 00:19:35,960 Speaker 3: and that was in February, and we really haven't seen 383 00:19:36,000 --> 00:19:39,840 Speaker 3: him in an official tournament since then. So it's pretty much, 384 00:19:39,960 --> 00:19:41,639 Speaker 3: you know, up in the air as to how he 385 00:19:41,720 --> 00:19:43,679 Speaker 3: will fill And the big question is, you know, Kenny 386 00:19:43,760 --> 00:19:47,720 Speaker 3: walk four straight days because of his you know body 387 00:19:47,760 --> 00:19:50,080 Speaker 3: and the legs and the foot and all, you know, 388 00:19:50,119 --> 00:19:53,400 Speaker 3: one injury after another, the back, And it's really more about, 389 00:19:53,480 --> 00:19:55,840 Speaker 3: you know, how he can handle the elevation, because that's 390 00:19:55,840 --> 00:19:58,879 Speaker 3: one thing when you see it on TV, you don't understand. 391 00:19:59,359 --> 00:20:03,560 Speaker 3: It's hard to s see the elevation, all the slopes 392 00:20:03,800 --> 00:20:07,160 Speaker 3: and all the heels that everybody walks when they're walking 393 00:20:07,200 --> 00:20:09,399 Speaker 3: Augusta National. It's very hard to see it unless you're 394 00:20:09,400 --> 00:20:13,879 Speaker 3: there in person, and it's a very strenuous walk. But look, Tiger, 395 00:20:14,040 --> 00:20:18,119 Speaker 3: he lives for this championship and he has great memories 396 00:20:18,160 --> 00:20:20,639 Speaker 3: from twenty nineteen when he won in front of his 397 00:20:20,760 --> 00:20:25,000 Speaker 3: children and his mom and you know, as I said, 398 00:20:25,000 --> 00:20:27,640 Speaker 3: it was such a great story one for the Ages 399 00:20:27,880 --> 00:20:30,640 Speaker 3: that you can never count him out. I mean, does 400 00:20:30,640 --> 00:20:33,240 Speaker 3: he have a chance to win, certainly, Does he have 401 00:20:33,280 --> 00:20:35,320 Speaker 3: a chance to make the cut and you know, make 402 00:20:35,359 --> 00:20:38,959 Speaker 3: another record. Absolutely, So it's always exciting when Tiger decides 403 00:20:38,960 --> 00:20:39,359 Speaker 3: to play. 404 00:20:40,000 --> 00:20:42,119 Speaker 4: I find it funny that we're talking about sports and 405 00:20:42,160 --> 00:20:45,320 Speaker 4: we're talking using words like strenuous walk when we're talking 406 00:20:45,320 --> 00:20:48,159 Speaker 4: about sports, because golf is a different sport on its 407 00:20:48,200 --> 00:20:52,480 Speaker 4: own compared to things like football or baseball or anything else. 408 00:20:53,119 --> 00:20:55,479 Speaker 4: When it comes to Tiger Woods and his impact on 409 00:20:55,520 --> 00:20:58,080 Speaker 4: the Masters and the sport itself, if he makes a 410 00:20:58,119 --> 00:21:01,320 Speaker 4: cutpite he doesn't do well, do we see interest drop 411 00:21:01,359 --> 00:21:04,040 Speaker 4: off and the Masters completely from people outside the world 412 00:21:04,080 --> 00:21:07,640 Speaker 4: of golf who basically equate Tiger Woods and golf together. 413 00:21:07,600 --> 00:21:11,720 Speaker 3: Right, I mean, Tiger certainly brought in so many fans 414 00:21:11,760 --> 00:21:14,680 Speaker 3: to the game, you know, the he was basically he's 415 00:21:14,720 --> 00:21:17,919 Speaker 3: this universal athlete and so everybody wants to pull for him. 416 00:21:17,960 --> 00:21:21,080 Speaker 3: In fact, I can remember in twenty nineteen when everybody 417 00:21:21,160 --> 00:21:26,159 Speaker 3: saw what six players their two shots went into race crety, 418 00:21:26,359 --> 00:21:29,000 Speaker 3: giving you know, Tiger a little more opportunity back then 419 00:21:29,040 --> 00:21:33,000 Speaker 3: on the twelve hole to perhaps go on and seek 420 00:21:33,040 --> 00:21:35,800 Speaker 3: another championship. And he was the only one in what 421 00:21:36,040 --> 00:21:38,359 Speaker 3: six five or six players on number twelve that was 422 00:21:38,400 --> 00:21:41,240 Speaker 3: able to keep that shot on the green. And back 423 00:21:41,280 --> 00:21:44,919 Speaker 3: then we heard they called the galleries there at Augusta National, 424 00:21:44,960 --> 00:21:49,760 Speaker 3: we heard spectators clapping when these balls went into the water, 425 00:21:50,280 --> 00:21:53,359 Speaker 3: which never happens in Augusta National. They all were rooting 426 00:21:53,440 --> 00:21:58,880 Speaker 3: for Tiger. So yes, Tiger drives, you know, the sport. 427 00:21:59,119 --> 00:22:02,720 Speaker 3: Even in his injured and state where he hasn't been 428 00:22:02,720 --> 00:22:06,199 Speaker 3: able to play that much, people look to him to win. 429 00:22:06,359 --> 00:22:09,680 Speaker 3: People who are marginall golf fans or aren't golf fans, 430 00:22:09,720 --> 00:22:12,280 Speaker 3: you know, have followed him and his story, the ups, 431 00:22:12,320 --> 00:22:15,640 Speaker 3: the downs, the good, the bad and the ugly. And yeah, 432 00:22:15,640 --> 00:22:17,919 Speaker 3: I would assume if he for some reason does not 433 00:22:18,040 --> 00:22:21,560 Speaker 3: make the cut, you know, the ratings might not be 434 00:22:21,880 --> 00:22:25,160 Speaker 3: as high as Tiger contending for sure on a Sunday, 435 00:22:25,200 --> 00:22:27,280 Speaker 3: but there's so many other storylines. You know, you have 436 00:22:27,320 --> 00:22:30,280 Speaker 3: the live players who will be playing in the Masters, 437 00:22:30,320 --> 00:22:32,240 Speaker 3: and we haven't seen much of Brooks kept up, we 438 00:22:32,320 --> 00:22:35,600 Speaker 3: haven't seen much of defending Masters champion John Rahm because 439 00:22:35,640 --> 00:22:40,600 Speaker 3: they're in live. But you know Brooks, he loves major championships. 440 00:22:40,640 --> 00:22:43,120 Speaker 3: He's always on a mission at the Majors. He has 441 00:22:43,119 --> 00:22:45,919 Speaker 3: a very good shot of winning, and John ram is 442 00:22:45,920 --> 00:22:48,320 Speaker 3: a very good shot of defending his title. There's so 443 00:22:48,400 --> 00:22:52,560 Speaker 3: many great storylines in addition to Tiger that I think 444 00:22:52,920 --> 00:22:55,680 Speaker 3: most golf fans hang in there to the very end. 445 00:22:55,960 --> 00:22:57,840 Speaker 1: Yeah, you served up the question I was going to ask, 446 00:22:57,920 --> 00:23:00,840 Speaker 1: because now you've got the live golf player, you've got 447 00:23:00,960 --> 00:23:04,879 Speaker 1: the PGA players. They are together and it's almost like 448 00:23:04,960 --> 00:23:07,560 Speaker 1: have at it, boys, because this is going to be 449 00:23:07,640 --> 00:23:11,200 Speaker 1: one whale of a tournament. And to me, I think 450 00:23:11,560 --> 00:23:14,800 Speaker 1: that this is one of the reasons why the audience 451 00:23:15,200 --> 00:23:19,000 Speaker 1: the eyeballs TV wise, I would not be surprised if 452 00:23:19,040 --> 00:23:20,120 Speaker 1: it was one of the highest. 453 00:23:19,880 --> 00:23:24,119 Speaker 3: Rated ever, right because all the controversy that the PJ 454 00:23:24,280 --> 00:23:28,359 Speaker 3: Tour versus Live, you know, the Saudi Public Investment Fund, 455 00:23:28,520 --> 00:23:32,880 Speaker 3: all that controversy, all those storylines obviously leading up to 456 00:23:32,920 --> 00:23:35,399 Speaker 3: this Masters, and you know, you don't get to see 457 00:23:35,440 --> 00:23:39,080 Speaker 3: the very very best players in the game anymore week 458 00:23:39,160 --> 00:23:40,959 Speaker 3: in and week out because some of that. So many 459 00:23:40,960 --> 00:23:44,000 Speaker 3: of these top players are playing with live. So now 460 00:23:44,040 --> 00:23:47,080 Speaker 3: at the Masters, you're going to see these guys. You're 461 00:23:47,080 --> 00:23:49,840 Speaker 3: going to see you know, De Chambeau, You're going to 462 00:23:49,880 --> 00:23:52,880 Speaker 3: see Patrick Reid, who who won a Master's title. You're 463 00:23:52,880 --> 00:23:55,639 Speaker 3: going to see obviously Brooks Keepkin and John Rahm and 464 00:23:56,480 --> 00:24:01,160 Speaker 3: Cameron Smith. So these guys can play. We don't see 465 00:24:01,160 --> 00:24:05,920 Speaker 3: them enough, not that many eyeballs on live as of yet, 466 00:24:06,520 --> 00:24:08,879 Speaker 3: so we wonder what kind of form, what kind of 467 00:24:08,920 --> 00:24:12,720 Speaker 3: shape they're in coming into, you know, the Masters. But look, 468 00:24:12,840 --> 00:24:15,400 Speaker 3: they want to win this as badly as everybody else, 469 00:24:15,480 --> 00:24:18,000 Speaker 3: so you know it's going to be exciting the entire 470 00:24:18,040 --> 00:24:18,720 Speaker 3: four days. 471 00:24:18,840 --> 00:24:20,879 Speaker 2: Well, and let's just talk a little bit about you know, 472 00:24:21,000 --> 00:24:23,080 Speaker 2: I mean, your recent book Life on the Green, Lessons 473 00:24:23,080 --> 00:24:25,720 Speaker 2: and Wisdom from Legends of Golf. I mean, you interview 474 00:24:26,160 --> 00:24:30,480 Speaker 2: the great Gary player who actually talks about staying in shape, right, 475 00:24:30,480 --> 00:24:32,560 Speaker 2: I mean you mentioned Tiger Woods early, you mentioned these 476 00:24:32,560 --> 00:24:34,959 Speaker 2: live golfers and are they going to be able to 477 00:24:35,040 --> 00:24:37,239 Speaker 2: live up to, you know, kind of the standards they 478 00:24:37,280 --> 00:24:38,480 Speaker 2: have in the past. I mean, they're not on the 479 00:24:38,480 --> 00:24:40,320 Speaker 2: PGA anymore. I mean, I don't know what goes on 480 00:24:40,400 --> 00:24:42,440 Speaker 2: out there and live land, but you know, I mean, 481 00:24:42,480 --> 00:24:44,880 Speaker 2: who knows what kind of shape they're in, both mentally 482 00:24:44,960 --> 00:24:47,280 Speaker 2: and physically. Talk to us about the book. Talk to 483 00:24:47,359 --> 00:24:49,560 Speaker 2: us about Jack Nicholas, some of the people you interviewed, 484 00:24:49,600 --> 00:24:51,720 Speaker 2: Ana Kasur and Stan What were the takeaways for you? 485 00:24:52,119 --> 00:24:54,160 Speaker 2: I mean, I mean, what a great book. It looks 486 00:24:54,200 --> 00:24:56,560 Speaker 2: like you had some really awesome interviews. 487 00:24:56,920 --> 00:24:59,680 Speaker 3: I have to say, I'm so excited about this book. 488 00:25:00,000 --> 00:25:02,760 Speaker 3: Life on the Green Lessons in Wisdom from Legends of Ball. 489 00:25:03,440 --> 00:25:07,160 Speaker 3: I interviewed twelve legends and these are all recent interviews, 490 00:25:07,240 --> 00:25:10,119 Speaker 3: six men and six women, and five of them are 491 00:25:10,240 --> 00:25:14,640 Speaker 3: former Masters champions, and they all talk about what they 492 00:25:14,720 --> 00:25:18,119 Speaker 3: brought from their iconic golf careers that they use in 493 00:25:18,200 --> 00:25:22,000 Speaker 3: life day to day. So it's really life lessons, life wisdom, 494 00:25:22,080 --> 00:25:25,400 Speaker 3: and all of this they learned from their iconic golf careers. 495 00:25:25,680 --> 00:25:29,640 Speaker 3: And so you have Jack Nicholas talking about the importance 496 00:25:29,680 --> 00:25:34,280 Speaker 3: of integrity and sportsmanship and putting family first. And you know, 497 00:25:34,320 --> 00:25:36,359 Speaker 3: he's the first one to tell you that, yes, he 498 00:25:36,440 --> 00:25:40,119 Speaker 3: made a couple of four foot cuts which made his 499 00:25:40,359 --> 00:25:43,720 Speaker 3: life basically, but he certainly believes that being a father 500 00:25:44,160 --> 00:25:46,480 Speaker 3: really came ahead of chasing a trophy, you know, with 501 00:25:46,640 --> 00:25:50,920 Speaker 3: five children, twenty two grandchildren, three great grandchildren. So he 502 00:25:51,320 --> 00:25:54,560 Speaker 3: talks a lot about you know, his master's history and 503 00:25:54,600 --> 00:25:58,720 Speaker 3: about his career. But the dominant theme every chapter has 504 00:25:58,760 --> 00:26:01,159 Speaker 3: a dominant theme in each chapters devoted to one of 505 00:26:01,200 --> 00:26:05,520 Speaker 3: these twelve legends. And so Nicholas certainly is you know, 506 00:26:05,560 --> 00:26:07,679 Speaker 3: what a role model he's been all these years. And 507 00:26:07,720 --> 00:26:10,919 Speaker 3: as you mentioned, Gary Player eighty eight years young, he 508 00:26:11,040 --> 00:26:15,600 Speaker 3: talks about pursuing one's passion, and boy, who best to 509 00:26:15,640 --> 00:26:18,720 Speaker 3: talk about that? Then? Gary Player? He plays golf every day, 510 00:26:19,119 --> 00:26:21,680 Speaker 3: He works out every day. A couple of years ago 511 00:26:21,760 --> 00:26:24,240 Speaker 3: I was doing sit ups and push ups with him 512 00:26:24,359 --> 00:26:27,680 Speaker 3: for a TV show and he was going strong. I mean, 513 00:26:27,680 --> 00:26:30,600 Speaker 3: the guy is unbelievable. There's just, you know, so many 514 00:26:30,640 --> 00:26:33,800 Speaker 3: messages that one can learn from golf. It's one of 515 00:26:33,840 --> 00:26:38,000 Speaker 3: these sports that's really a microcosm of life, and you'd 516 00:26:38,000 --> 00:26:41,320 Speaker 3: bring so many lessons to life from the golf course. 517 00:26:41,800 --> 00:26:45,000 Speaker 3: And all that personalities are I picked them because A 518 00:26:45,119 --> 00:26:48,080 Speaker 3: they're all Hall of famers. B they're a little older 519 00:26:48,119 --> 00:26:50,720 Speaker 3: so they can look back and they have wisdom to 520 00:26:50,840 --> 00:26:55,359 Speaker 3: share and so many great stories. Padrake Harrington, he's in 521 00:26:55,359 --> 00:26:58,280 Speaker 3: the book. He's still competing on both the PJ Tour 522 00:26:58,359 --> 00:27:02,719 Speaker 3: and the PJ Tour champions and he says he has fear, 523 00:27:03,359 --> 00:27:06,679 Speaker 3: not just nerves every time he tease it up, so 524 00:27:06,800 --> 00:27:10,399 Speaker 3: he talks about embracing that fear. So I think everybody, 525 00:27:10,440 --> 00:27:14,040 Speaker 3: whether you're a golfer or not, will enjoy the themes 526 00:27:14,040 --> 00:27:16,199 Speaker 3: in this book. Yeah, and I wanted it because of 527 00:27:16,240 --> 00:27:21,600 Speaker 3: all the divisiveness in our sport, you know, englf in 528 00:27:21,600 --> 00:27:25,120 Speaker 3: in society. I really wanted this to be uplifting and 529 00:27:25,280 --> 00:27:28,760 Speaker 3: very inspirational, and all these legends were all of that, 530 00:27:29,119 --> 00:27:31,080 Speaker 3: and I'm just so grateful that they gave me the 531 00:27:31,119 --> 00:27:34,480 Speaker 3: time and they all really wanted to be included in 532 00:27:34,560 --> 00:27:36,719 Speaker 3: this book. So I'm excited about it. 533 00:27:36,760 --> 00:27:38,640 Speaker 2: Well, Scarlett, I think Anne just got a little tired 534 00:27:38,680 --> 00:27:43,879 Speaker 2: of interviewing the likes of Kevin Costner, Stilvestor Stlone, Matthew mcconnie, 535 00:27:43,960 --> 00:27:47,680 Speaker 2: Joe Peschi, all of whom she interviewed in her first book. 536 00:27:48,119 --> 00:27:49,920 Speaker 2: So you know, I guess you know this is, you know, 537 00:27:50,000 --> 00:27:51,000 Speaker 2: a close second to that. 538 00:27:52,359 --> 00:27:55,040 Speaker 1: And Ligurie you're so kind of joining us. Thank you 539 00:27:55,119 --> 00:27:57,200 Speaker 1: so much. By the way, check out her new book 540 00:27:57,400 --> 00:28:01,760 Speaker 1: Life on the Green, Lessons and Wisdom from Legends of Golf. 541 00:28:01,880 --> 00:28:05,280 Speaker 1: Also founder and president of the and Lagori Foundation, which 542 00:28:05,359 --> 00:28:09,080 Speaker 1: raises money for cancer research and care through charity, golf 543 00:28:09,119 --> 00:28:11,399 Speaker 1: events and war and thanks again for joining us on 544 00:28:11,400 --> 00:28:12,639 Speaker 1: the Bloomberg Business of Sports. 545 00:28:12,840 --> 00:28:15,760 Speaker 3: My pleasure enjoying the Masters and hit them straight when 546 00:28:15,800 --> 00:28:18,280 Speaker 3: you get out there to play up. 547 00:28:18,200 --> 00:28:21,920 Speaker 1: Next to the Washington Wizards and the Washington Capitals look 548 00:28:22,080 --> 00:28:25,000 Speaker 1: like they're staying put in DC. We'll talk with Zach 549 00:28:25,080 --> 00:28:30,040 Speaker 1: Lyons's president of Media and New Enterprises with Monumental Sports 550 00:28:30,080 --> 00:28:33,520 Speaker 1: and Entertainment. You're listening to the Bloomberg Business of Sports 551 00:28:33,600 --> 00:28:43,080 Speaker 1: from Bloomberg Radio. Around the world, You're listening to Bloomberg 552 00:28:43,200 --> 00:28:47,680 Speaker 1: Business of Sports from Bloomberg Radio. Thanks for joining us 553 00:28:47,720 --> 00:28:50,320 Speaker 1: on the Bloomberg Business of Sports show, where we explore 554 00:28:50,360 --> 00:28:52,360 Speaker 1: the big money issues in the world of sports. I'm 555 00:28:52,360 --> 00:28:55,840 Speaker 1: Michael bar along with Scarlett Foo and Damian Sassaur. The 556 00:28:55,920 --> 00:28:59,120 Speaker 1: Wizards and the Capitals are staying put in DC. 557 00:29:00,000 --> 00:29:01,800 Speaker 4: There are some plans to move those teams from the 558 00:29:01,840 --> 00:29:05,440 Speaker 4: district into a two billion dollar sports and entertainment complex 559 00:29:05,440 --> 00:29:08,480 Speaker 4: in Virginia, but those proposed plans fell through. 560 00:29:09,120 --> 00:29:12,400 Speaker 1: Here to take us through where things stand now for 561 00:29:12,480 --> 00:29:15,720 Speaker 1: those clubs and more is zachly Ownsis. He is President 562 00:29:15,840 --> 00:29:20,240 Speaker 1: of Media and New Enterprises at Monumental Sports and Entertainment, 563 00:29:20,560 --> 00:29:24,800 Speaker 1: which owns the Capitals, the Wizards, the Mystics, as well 564 00:29:24,880 --> 00:29:29,160 Speaker 1: as the Capitol One Arena in d C. Zach, welcome 565 00:29:29,240 --> 00:29:30,920 Speaker 1: to the Bloomberg Business of Sports. 566 00:29:31,200 --> 00:29:33,160 Speaker 9: Thank you, Michael. I appreciate you all having me on 567 00:29:33,200 --> 00:29:33,560 Speaker 9: the show. 568 00:29:34,000 --> 00:29:36,840 Speaker 1: Well, let's start from the beginning that they are going 569 00:29:36,920 --> 00:29:41,280 Speaker 1: to stay in DC, And I guess this happened because 570 00:29:43,000 --> 00:29:48,760 Speaker 1: Mariel Bowser, Mayor of DC. Finally she said it when 571 00:29:48,800 --> 00:29:51,200 Speaker 1: this happened, that no, you guys aren't going to leave, 572 00:29:51,560 --> 00:29:53,440 Speaker 1: and it turns out that she was right. 573 00:29:54,160 --> 00:29:56,760 Speaker 5: Well, the world really changed over the course of the 574 00:29:56,800 --> 00:30:00,120 Speaker 5: last three and a half months. I think that my 575 00:30:00,240 --> 00:30:03,240 Speaker 5: father began this process. He was really hopeful for a 576 00:30:03,360 --> 00:30:09,040 Speaker 5: true partnership between our organization and a local jurisdiction, and 577 00:30:09,640 --> 00:30:14,480 Speaker 5: the engagement that we sought from DC ultimately emerged as 578 00:30:14,560 --> 00:30:19,160 Speaker 5: time moved on. This wasn't just about an investment in 579 00:30:19,360 --> 00:30:23,480 Speaker 5: rehabilitating and transforming Capital One, arena for the future. It 580 00:30:23,560 --> 00:30:28,520 Speaker 5: was about developing a real plan to revitalize the entire 581 00:30:28,640 --> 00:30:33,440 Speaker 5: downtown region of our great city. And you know, over 582 00:30:33,480 --> 00:30:36,280 Speaker 5: the last three months, Eccity Council and the Mayor of 583 00:30:36,280 --> 00:30:39,680 Speaker 5: worked hand and glove to pass a four hundred million 584 00:30:39,720 --> 00:30:45,440 Speaker 5: dollars Downtown Revitalization Act, a significant bill to adjust crime 585 00:30:45,720 --> 00:30:49,040 Speaker 5: in our city. They've made commitments to us as an 586 00:30:49,120 --> 00:30:55,000 Speaker 5: organization to work on traffic mitigation, to help us secure 587 00:30:55,280 --> 00:30:58,680 Speaker 5: a couple hundred thousand square feet of additional space in 588 00:30:58,760 --> 00:31:01,959 Speaker 5: a vacant mall next door to is called Gallery Place. 589 00:31:02,840 --> 00:31:07,040 Speaker 5: They've committed to increase public safety measures around our building, 590 00:31:07,400 --> 00:31:11,240 Speaker 5: and a variety of additional outcomes which obviously we think 591 00:31:11,320 --> 00:31:15,680 Speaker 5: really improved the everyday fan experience, but are also the right. 592 00:31:15,560 --> 00:31:17,480 Speaker 9: Thing for the downtown neighborhood. 593 00:31:17,560 --> 00:31:21,440 Speaker 5: Capital One Arena and its previous name, MCI Center Horizon 594 00:31:21,520 --> 00:31:26,280 Speaker 5: Center was a huge catalyst for the revitalization of downtown Washington, DC. 595 00:31:27,040 --> 00:31:29,080 Speaker 5: The city took a little bit of a step back 596 00:31:29,280 --> 00:31:33,280 Speaker 5: during the pandemic and has had a harder time rebounding 597 00:31:33,320 --> 00:31:36,840 Speaker 5: from it. Meanwhile, our business has rebounded in a significant way. 598 00:31:36,920 --> 00:31:38,440 Speaker 9: We had three million people through. 599 00:31:38,280 --> 00:31:41,680 Speaker 5: Our turnstyles in twenty twenty two and still are showing very, 600 00:31:41,760 --> 00:31:46,040 Speaker 5: very strong performances. We are very excited about becoming a 601 00:31:46,160 --> 00:31:51,120 Speaker 5: key ingredient in the next renaissance for downtown Washington, DC and. 602 00:31:51,160 --> 00:31:53,800 Speaker 9: Delivering our fans a really world class experience. 603 00:31:53,960 --> 00:31:55,920 Speaker 2: Well, Zach, I really do want to ask you about 604 00:31:55,960 --> 00:31:58,040 Speaker 2: the business, but before I do, I have to congratulate 605 00:31:58,080 --> 00:31:59,960 Speaker 2: you on that win over Giannis and the Bucks World 606 00:32:00,080 --> 00:32:03,120 Speaker 2: on Washington Wizards their career. I know it's not your 607 00:32:03,160 --> 00:32:05,640 Speaker 2: year there, but let's let's let's let's shift gears and 608 00:32:05,640 --> 00:32:07,680 Speaker 2: talk to about a team who's year just well may 609 00:32:07,720 --> 00:32:09,960 Speaker 2: be and that's the Washington Capitals, right, I mean, I 610 00:32:09,960 --> 00:32:12,600 Speaker 2: think right now Vegas has them as a fifty five 611 00:32:12,680 --> 00:32:15,280 Speaker 2: probability to make the playoffs. They're holding on there even 612 00:32:15,280 --> 00:32:17,400 Speaker 2: though they lost a few Talk to us a little 613 00:32:17,440 --> 00:32:19,920 Speaker 2: bit about what your plans are for those teams, how 614 00:32:19,960 --> 00:32:22,520 Speaker 2: those franchises are shaping up, and as we move into 615 00:32:22,560 --> 00:32:24,840 Speaker 2: the NHL playoffs, just how excited are we? 616 00:32:24,840 --> 00:32:28,640 Speaker 5: Well, I mean, our goal is to build teams via 617 00:32:28,680 --> 00:32:32,640 Speaker 5: the draft and drew player development that can develop long 618 00:32:32,760 --> 00:32:34,080 Speaker 5: term windows where they. 619 00:32:33,960 --> 00:32:35,440 Speaker 9: Can compete for a championship. 620 00:32:36,320 --> 00:32:39,600 Speaker 5: We did that with the Capitals the Capitals. 621 00:32:39,600 --> 00:32:41,960 Speaker 9: Someone can correct me if I'm wrong, but I believe we've. 622 00:32:41,800 --> 00:32:45,080 Speaker 5: Made the playoffs thirteen out of the last fifteen years. 623 00:32:45,120 --> 00:32:47,760 Speaker 5: We had a great core of players led by Alex 624 00:32:47,800 --> 00:32:50,719 Speaker 5: Ovechkin and players like Nick Baxtrom and John Carlson and 625 00:32:50,760 --> 00:32:56,440 Speaker 5: several others who defined a great winning era of Capitols hockey, 626 00:32:56,960 --> 00:33:00,560 Speaker 5: and that core is aging. It's no secret we're getting 627 00:33:00,560 --> 00:33:03,880 Speaker 5: a new influx of young players who we've drafted and developed, 628 00:33:03,880 --> 00:33:07,200 Speaker 5: and we're now really hoarding picks in the future to 629 00:33:07,240 --> 00:33:09,440 Speaker 5: get ready for a little reboot and the next era 630 00:33:09,480 --> 00:33:10,360 Speaker 5: of Capitol's hockey. 631 00:33:10,960 --> 00:33:13,160 Speaker 9: But you know, our new coach, Spencer. 632 00:33:12,800 --> 00:33:17,400 Speaker 5: Carbury, has gotten tremendous buy in from our veteran core 633 00:33:17,520 --> 00:33:21,120 Speaker 5: players and has given our younger players, this new generation 634 00:33:21,240 --> 00:33:23,760 Speaker 5: of player a lot of confidence to go out and 635 00:33:23,800 --> 00:33:25,320 Speaker 5: play and succeed. 636 00:33:25,640 --> 00:33:27,520 Speaker 9: And the team is playing. 637 00:33:27,200 --> 00:33:31,000 Speaker 5: With the great sense of togetherness, and we are incredibly 638 00:33:31,040 --> 00:33:32,280 Speaker 5: proud of. 639 00:33:32,160 --> 00:33:34,080 Speaker 9: What the team is doing on the ice. We dropped 640 00:33:34,120 --> 00:33:35,080 Speaker 9: one last night. 641 00:33:35,320 --> 00:33:38,200 Speaker 5: In Buffalo, but I think we feel good about our 642 00:33:38,280 --> 00:33:40,640 Speaker 5: chances and the team really wants it, and the team 643 00:33:40,720 --> 00:33:41,680 Speaker 5: is really reutified. 644 00:33:42,680 --> 00:33:44,440 Speaker 2: We're not talking about wings, Michael. 645 00:33:47,840 --> 00:33:49,600 Speaker 9: They had a great era of hockey obviously. 646 00:33:49,680 --> 00:33:52,320 Speaker 5: I mean they were perennial playoff contenders for you know, 647 00:33:52,400 --> 00:33:56,800 Speaker 5: two decades. On the Wizard side, we are clearly entering 648 00:33:56,800 --> 00:34:02,160 Speaker 5: a full rebuild and Michael Winger and Will Dawkins, our 649 00:34:02,240 --> 00:34:05,080 Speaker 5: new management for the team, have declared their major They 650 00:34:05,240 --> 00:34:08,680 Speaker 5: deconstructed the team, and they are coveting draft picks and 651 00:34:08,760 --> 00:34:12,080 Speaker 5: young players and player development. So we've got to judge 652 00:34:12,080 --> 00:34:16,160 Speaker 5: ourselves on different metrics this year and the next season 653 00:34:16,239 --> 00:34:19,520 Speaker 5: or two after that. Obviously, we'll hope for a good 654 00:34:19,520 --> 00:34:22,759 Speaker 5: result in the draft lottery, and we'll look to add 655 00:34:22,800 --> 00:34:25,600 Speaker 5: core players to our team via the draft over the 656 00:34:25,640 --> 00:34:29,360 Speaker 5: next three seasons or so. And we want to emulate 657 00:34:29,400 --> 00:34:31,960 Speaker 5: the models that have been followed by teams like the 658 00:34:32,000 --> 00:34:35,920 Speaker 5: Oklahoma City Thunder, an organization where Will came from and 659 00:34:35,960 --> 00:34:40,239 Speaker 5: Michael spent some time with as well. We think we've 660 00:34:40,280 --> 00:34:42,480 Speaker 5: got all the tools to be successful. We're going to 661 00:34:42,520 --> 00:34:45,279 Speaker 5: be patient, and we're going to do this the right way. 662 00:34:45,560 --> 00:34:48,240 Speaker 4: Zach, you mentioned the NBA and the Wizards. Of course, 663 00:34:48,800 --> 00:34:52,240 Speaker 4: we know that the NBA is in discussions right now 664 00:34:52,280 --> 00:34:57,799 Speaker 4: with Disney, ESPN and Warner Brothers Discovery about their exclusive 665 00:34:58,239 --> 00:35:01,720 Speaker 4: negotiating rights for the media rights for the next couple 666 00:35:01,719 --> 00:35:04,960 Speaker 4: of years, and that goes until April twenty second. After 667 00:35:05,000 --> 00:35:08,520 Speaker 4: that kind of opens up to other potential broadcasters or 668 00:35:08,560 --> 00:35:11,480 Speaker 4: streamers in this case, how are you thinking through what 669 00:35:11,840 --> 00:35:16,439 Speaker 4: the next round of media rights should look like? Given 670 00:35:16,440 --> 00:35:18,400 Speaker 4: that we're in twenty twenty four and so many people 671 00:35:18,480 --> 00:35:22,400 Speaker 4: have cut the cord and the younger audience that NBA 672 00:35:22,480 --> 00:35:26,520 Speaker 4: teams like the Wizards want to reach are comfortable watching 673 00:35:26,560 --> 00:35:29,400 Speaker 4: games on their phones on their iPads. 674 00:35:29,680 --> 00:35:32,200 Speaker 5: Well, I want to be conscious of not speaking on 675 00:35:32,400 --> 00:35:34,880 Speaker 5: the NBA the leagues to have sure. I think the 676 00:35:35,000 --> 00:35:40,000 Speaker 5: teams that are certainly enthused by the quality of partners 677 00:35:40,040 --> 00:35:43,319 Speaker 5: that exist out there and who have great interest in 678 00:35:44,239 --> 00:35:49,480 Speaker 5: NBA live, national, and frankly increasingly global rights. You know, 679 00:35:49,560 --> 00:35:52,160 Speaker 5: like you mentioned, we've had great one of your partners 680 00:35:52,239 --> 00:35:56,560 Speaker 5: in Disney, ESPN and Warner Brothers, Discovery, Turner, and you know, 681 00:35:56,640 --> 00:36:00,279 Speaker 5: linear is always going to be an important component of 682 00:36:00,320 --> 00:36:03,840 Speaker 5: our distribution strategy on a national level and a local level. 683 00:36:04,560 --> 00:36:08,960 Speaker 5: There's still you know, nearly sixty million cable and satellite households. 684 00:36:09,000 --> 00:36:11,279 Speaker 5: Everyone talks about the demise of cable is still very 685 00:36:11,400 --> 00:36:15,000 Speaker 5: very important to our distribution and accessibility for our fan base. 686 00:36:15,200 --> 00:36:19,000 Speaker 5: But you're right, Younger customers clearly are subscribing to different services. 687 00:36:19,480 --> 00:36:21,480 Speaker 5: And you know, depending on the numbers that you read 688 00:36:21,520 --> 00:36:24,560 Speaker 5: about or believe, you know, Amazon Prime, for example, might 689 00:36:24,600 --> 00:36:27,560 Speaker 5: have over one hundred million subscribers. And so these new 690 00:36:27,640 --> 00:36:33,160 Speaker 5: technology companies offer great opportunities to potentially add as streaming 691 00:36:33,239 --> 00:36:37,319 Speaker 5: distribution partner in the future. And you know, I think 692 00:36:37,360 --> 00:36:40,359 Speaker 5: these rights are increasingly global. I'm sure the league has 693 00:36:40,400 --> 00:36:43,799 Speaker 5: a lot to think about. I'm sure digital will be. 694 00:36:43,760 --> 00:36:46,640 Speaker 9: An important component whatever partnership comes forward. 695 00:36:47,200 --> 00:36:50,320 Speaker 2: Zach, you're president of Media and New Enterprises at Monumental 696 00:36:50,320 --> 00:36:53,840 Speaker 2: Sports and Entertainment. Your portfolio includes, as I mentioned, the 697 00:36:53,880 --> 00:36:57,680 Speaker 2: Washington Capitals, the Wizards. It also includes the Mystics from 698 00:36:57,680 --> 00:37:02,280 Speaker 2: THEWNBA and has any I mean done a better job 699 00:37:02,760 --> 00:37:05,160 Speaker 2: of branding and marketing than what we're seeing right this 700 00:37:05,280 --> 00:37:09,400 Speaker 2: minute in college women's basketball, I mean Caitlyn Clark, Angel Reese. 701 00:37:09,440 --> 00:37:11,520 Speaker 2: I mean, I know that the Mystics have been number 702 00:37:11,520 --> 00:37:13,279 Speaker 2: six pick in this year's draft, and some of those 703 00:37:13,320 --> 00:37:15,400 Speaker 2: players might be gone by then, But talk to us 704 00:37:15,400 --> 00:37:18,759 Speaker 2: about your plans for women's basketball. I mean, how does 705 00:37:18,800 --> 00:37:19,840 Speaker 2: that fit into your portfolio? 706 00:37:20,120 --> 00:37:22,719 Speaker 5: Well, all of women's sports seem to be ascended. I mean, 707 00:37:22,760 --> 00:37:26,160 Speaker 5: you certainly read a lot about franchise valuations in the 708 00:37:26,320 --> 00:37:29,880 Speaker 5: NWSL and the growth of women's soccer too. It is 709 00:37:29,920 --> 00:37:34,600 Speaker 5: really rising alongside women's basketball. And you know, we've been 710 00:37:34,640 --> 00:37:40,040 Speaker 5: invested in the WNBA for nearly twenty years now and 711 00:37:40,120 --> 00:37:45,120 Speaker 5: we've been vocal advocates of the league. We were very 712 00:37:45,160 --> 00:37:48,799 Speaker 5: involved with Commission Angelbert and the elitue wide finance that 713 00:37:48,800 --> 00:37:51,480 Speaker 5: occurred in twenty twenty two. We raised seventy five million 714 00:37:51,520 --> 00:37:54,719 Speaker 5: dollars at a four hundred million dollar free from some 715 00:37:54,920 --> 00:37:58,400 Speaker 5: great blue chip investors that allowed the league to build 716 00:37:58,480 --> 00:38:02,720 Speaker 5: its own commissions, off and sales infrastructure, which is helpfully 717 00:38:02,760 --> 00:38:07,160 Speaker 5: to expansion team opportunities. And you know, we're certainly hopeful 718 00:38:07,239 --> 00:38:09,640 Speaker 5: for a you know, a great media deal for the 719 00:38:09,760 --> 00:38:13,919 Speaker 5: w in the future as well. And so we see 720 00:38:13,920 --> 00:38:17,719 Speaker 5: a lot of upside in women's sports. Our team, the 721 00:38:17,800 --> 00:38:20,520 Speaker 5: Washington Mistics, won a championship in twenty nineteen, which we're 722 00:38:20,600 --> 00:38:23,719 Speaker 5: very proud of. We treat the Mystics with the same 723 00:38:23,800 --> 00:38:27,600 Speaker 5: level of care that we do the Wizards or the Capitals, 724 00:38:28,160 --> 00:38:31,960 Speaker 5: and so we'll continue to invest. We're invested through our team, 725 00:38:32,000 --> 00:38:35,800 Speaker 5: through the Wizard stake in the WNBA. The NBA owns 726 00:38:35,800 --> 00:38:38,680 Speaker 5: a significant piece of the WNBA, and then we participated 727 00:38:38,680 --> 00:38:40,920 Speaker 5: in that third party capital raise ourselves. 728 00:38:40,960 --> 00:38:43,439 Speaker 9: So you know, we're very proud to put our money 729 00:38:43,560 --> 00:38:44,240 Speaker 9: where I'm out. 730 00:38:44,080 --> 00:38:44,960 Speaker 3: There, Zach. 731 00:38:45,000 --> 00:38:48,960 Speaker 4: We started our conversation with talking about how the Wizards 732 00:38:48,960 --> 00:38:52,720 Speaker 4: and the Capitals are staying put in Washington. Earlier this week, 733 00:38:52,880 --> 00:38:55,239 Speaker 4: we heard about how voters in the Kansas City area 734 00:38:55,360 --> 00:38:58,360 Speaker 4: rejected the extension of a sales tax to fund stadium 735 00:38:58,360 --> 00:39:01,400 Speaker 4: projects for the Chiefs and the Royals. You had fifty 736 00:39:01,400 --> 00:39:04,080 Speaker 4: eight percent of voters denying the proposal, knowing that it 737 00:39:04,160 --> 00:39:06,840 Speaker 4: raises the risk that the teams might leave the city. 738 00:39:07,480 --> 00:39:10,640 Speaker 4: From where you sit, what is the lesson for sports franchises. 739 00:39:10,840 --> 00:39:13,879 Speaker 4: What does it say about taxpayers willingness to fund pro 740 00:39:13,960 --> 00:39:15,200 Speaker 4: sports stadiums in the US? 741 00:39:15,719 --> 00:39:19,040 Speaker 5: Well, I'm not as familiar with the details in Kansas City. 742 00:39:20,080 --> 00:39:23,400 Speaker 5: I think that you know, there's a lot written about 743 00:39:23,600 --> 00:39:29,880 Speaker 5: our investments in sports arenas a good thing or a 744 00:39:29,920 --> 00:39:33,239 Speaker 5: bad thing, And you know, I think you have to 745 00:39:33,280 --> 00:39:39,719 Speaker 5: look at what do elected officials ultimately think rides the 746 00:39:39,760 --> 00:39:44,440 Speaker 5: best outcome for their constituents. There is some competition out there. 747 00:39:44,719 --> 00:39:47,600 Speaker 5: I think the best partnerships are public private ones, which 748 00:39:47,640 --> 00:39:51,880 Speaker 5: is ultimately going to be you know what are path 749 00:39:51,920 --> 00:39:54,680 Speaker 5: forward is with Washington d C. We too will be 750 00:39:54,719 --> 00:39:57,960 Speaker 5: putting up the significant amount of money, hundreds of millions 751 00:39:57,960 --> 00:40:00,600 Speaker 5: of dollars on top of the two hundred million dollars 752 00:40:00,680 --> 00:40:03,760 Speaker 5: that we've invested back into our arena over the last 753 00:40:03,800 --> 00:40:04,360 Speaker 5: ten years. 754 00:40:04,880 --> 00:40:07,480 Speaker 9: And so there's no doubt that. 755 00:40:07,880 --> 00:40:11,040 Speaker 5: Arenas and stadiums, a position in the right neighborhoods can 756 00:40:11,080 --> 00:40:15,960 Speaker 5: be catalytic to have drawn audience. And you know, we're 757 00:40:16,560 --> 00:40:19,759 Speaker 5: one of the top drop off and pickup destinations for 758 00:40:20,000 --> 00:40:22,359 Speaker 5: Uber and the entire mid Atlantic. We've got the third 759 00:40:22,360 --> 00:40:25,200 Speaker 5: busiest metro station located. 760 00:40:24,760 --> 00:40:25,560 Speaker 9: Under our arena. 761 00:40:26,320 --> 00:40:30,640 Speaker 5: We regularly get thirteen million or more people walking around 762 00:40:30,640 --> 00:40:33,319 Speaker 5: our building annually, and like I mentioned, we get up 763 00:40:33,360 --> 00:40:36,440 Speaker 5: to three million people going through our turnstiles and that 764 00:40:36,600 --> 00:40:41,800 Speaker 5: activates a lot of economic activity around our building before, during, 765 00:40:42,040 --> 00:40:46,400 Speaker 5: and after games, and you know there is a power 766 00:40:46,440 --> 00:40:46,680 Speaker 5: to that. 767 00:40:46,960 --> 00:40:48,600 Speaker 4: Zach, really appreciate your joining us today. 768 00:40:48,880 --> 00:40:49,680 Speaker 9: Thank you very much. 769 00:40:49,800 --> 00:40:52,000 Speaker 4: Our thanks to Zach Leon, says President of Media and 770 00:40:52,080 --> 00:40:54,759 Speaker 4: New Enterprises at Monumental Sports and Entertainment. 771 00:40:55,080 --> 00:40:58,000 Speaker 1: Thanks for joining us on the Bloomberg Business of Sports Show, 772 00:40:58,320 --> 00:41:00,440 Speaker 1: and we're here each and every week at the same time. 773 00:41:00,560 --> 00:41:04,640 Speaker 1: From my colleague Scarlett Foo and Damian Sasaur. I'm Michael Barr. 774 00:41:05,000 --> 00:41:08,120 Speaker 1: Tune in again next week for the latest on the 775 00:41:08,200 --> 00:41:11,000 Speaker 1: stories moving big money in the world of sports. You're 776 00:41:11,040 --> 00:41:14,320 Speaker 1: listening to Bloomberg Business of Sports from Bloomberg Radio around 777 00:41:14,400 --> 00:41:14,960 Speaker 1: the world.