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Speaker 1: Hello, I'm Evan Nobi Williams, and I'm Michael bar Scott

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Speaker 1: is away today headed down to Miami for the Super Bowl.

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Speaker 1: Lucky guy, So he's m I A. This is the

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Speaker 1: Bloomberg Business of Sports podcast, but we explored the big

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Speaker 1: many issues in the world of sports. Today we're talking

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Speaker 1: n f L and we've said it before. Two years ago,

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Speaker 1: critics wondered if the league had peaked and then in

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Speaker 1: t and right now it's hotter than ever. Evan, you

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Speaker 1: have a great story on this today. Fill everyone in

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Speaker 1: on the numbers. Yeah, I feel like every year, kind

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Speaker 1: of heading into the Super Bowl, we take a step

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Speaker 1: back and look at the health of the NFL's business.

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Speaker 1: And you're right. A couple of years ago, you know,

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Speaker 1: things were on a little bit, a little bit of

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Speaker 1: a shaky ground. The debate over Colin Kaepernick meant the

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Speaker 1: NFL was getting criticism from both sides. Concussions seemed to be,

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Speaker 1: you know, a top of mind for a lot of

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Speaker 1: football fans and non football fans. Uh And and there

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Speaker 1: was you know, if you remember, there was a kind

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Speaker 1: of an emergency meeting in October in New York here

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Speaker 1: between nf FILL owners, between NFL players, NFL stakeholders essentially saying, guys,

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Speaker 1: you know, how do we fix this? President Donald Trump

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Speaker 1: is criticizing us every time every weekend. It feels like,

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Speaker 1: um and now, you know, flash forward two years, a

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Speaker 1: lot of those criticisms have essentially disappeared from from from

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Speaker 1: public conversation, at least on a mascale. And it comes

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Speaker 1: at a perfect time for the league. They're renegotiating their

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Speaker 1: you know, billion dollar TV deals, um and as you know,

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Speaker 1: the media world stractures, as we've talked about before, Uh,

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Speaker 1: it makes NFL rights even more valuable. I always wonder

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Speaker 1: about football the need goes in Anything goes in cycles,

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Speaker 1: but especially now, I mean, one, you have a Super

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Speaker 1: Bowl with two exciting teams. You probably have the most

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Speaker 1: exciting quarterback in the league. Patrick Mahomes for the Kansas

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Speaker 1: City Chiefs, who is going to be in the game

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Speaker 1: up against the forty nine, and Jimmy Garoppolo. Everybody's talking

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Speaker 1: about it, and you can't help but to be excited

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Speaker 1: about this big game. Yeah. And I think that's a

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Speaker 1: it's a great point because if you I also think about,

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Speaker 1: you know, my thoughts on football two years ago, one

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Speaker 1: of my biggest questions was, you know, when the Manning

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Speaker 1: brothers are gone, when Tom Brady is gone, When when

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Speaker 1: Drew Brees is gone, when Aaron Rodgers is gone, these

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Speaker 1: guys are aging up? Who is who are the next stars?

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Speaker 1: Sports is entertainment, obviously, it's it's it's a star driven thing.

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Speaker 1: Who are going to be the next stars? And it

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Speaker 1: really feels like the NFL, at least right now, seems

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Speaker 1: to have answers for those that question. Lamar Jackson let

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Speaker 1: the league on fire. He's he's super exciting. Patrick Mahomes

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Speaker 1: who you mentioned, you know, another player who you know

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Speaker 1: he could have a long career, long very successful career,

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Speaker 1: and and fans seemed to love him. Jimmy Garoppolo the

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Speaker 1: other quarterback you mentioned, also a young quarterback who who

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Speaker 1: people seem to be taking too. So it does feel

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Speaker 1: as though the NFL seems to have answered that question

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Speaker 1: about who is next when these these aging were quarterbacks

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Speaker 1: all disappear. You're going to watch the answer, I mean

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Speaker 1: I'm going to. Yeah, I won't say that. I'm too

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Speaker 1: excited about this this process now where all the ads

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Speaker 1: get released ahead of time, I don't I don't like that.

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Speaker 1: I mean, I'm sure there's numbers that say you get

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Speaker 1: more buzz if people can talk about it on Twitter.

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Speaker 1: You know Mr Peanut, you know the the Mr Peanut

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Speaker 1: ad um that was trending on Twitter a couple of

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Speaker 1: days ago. Uh So, you know, there's certainly some buzz

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Speaker 1: that comes with releasing your ad early. Um. But yeah,

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Speaker 1: I feel like the it ruins the surprise in some ways. Yeah.

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Speaker 1: I mean, I one of the things people the casual

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Speaker 1: NFL fan, I won't even say NFL fan, the casual

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Speaker 1: viewer back in the day, but like, oh, I want

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Speaker 1: to see what the Super Bowl ads are going to be,

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Speaker 1: and there would be the debut right there. But now,

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Speaker 1: like you said, if you can see it before the game,

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Speaker 1: what's the point. Yeah, And you know, given all that,

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Speaker 1: and you know, going back to the conversation we started here,

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Speaker 1: it all kind of ties together. Super Bowl ads are

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Speaker 1: getting more expensive, right, a record price over five million

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Speaker 1: dollars this year for for a thirty second spot. Uh

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Speaker 1: So to underscore kind of you know how important the

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Speaker 1: NFL is to its partners, you know, the the ads,

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Speaker 1: but the ad dollars that people are willing to spend

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Speaker 1: continues to go up. And that means that when Roger

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Speaker 1: Goodell sits across from Eric Shanks, when he sits across

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Speaker 1: from Sean McManus, when he sits across from the people

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Speaker 1: at these networks, and also you know Jeff Bezos at

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Speaker 1: Amazon or you know whoever may be negotiating for for

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Speaker 1: Apple or for Google. Um, he has that, you know,

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Speaker 1: that leverage, and that's a huge quiver for them. And

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Speaker 1: I'm sure a lot of people smarter than I add

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Speaker 1: executives they're saying, look, Darren Stevens, we we knew what

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Speaker 1: the deal was when we released this early. And I

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Speaker 1: guess there's a purpose for it. So you see what

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Speaker 1: will happen. Uh, speaking of big money, and this is

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Speaker 1: another reason why I think the NFL continues to grow

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Speaker 1: and grow when it comes to the Super Bowl. This

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Speaker 1: is the biggest year ever for betting. The American Gaming

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Speaker 1: Association says a record one six million adults. I could

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Speaker 1: be one of those are expected to on the game

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Speaker 1: after six states legalized sports betting in the past year. Yeah,

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Speaker 1: this is an interesting one. So every year the a

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Speaker 1: g A, the American Gaming Association, they put out these numbers. Uh,

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Speaker 1: six point eight billion is the estimate for for what's

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Speaker 1: going to be wagered in the US on the Super Bowl,

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Speaker 1: and that includes you know, your office pools, those those

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Speaker 1: boxes that people pass around. It includes it includes legal gambling, um,

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Speaker 1: like you may do in in New Jersey or in

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Speaker 1: or in Pennsylvania on on one of the legal operators there.

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Speaker 1: And it also includes you know, your bookie at the

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Speaker 1: bar or your your illegal offshore books. So this is

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Speaker 1: their attempt to put a whole number on it. It's

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Speaker 1: not an incredibly scientific uh number, but you know it

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Speaker 1: does kind of show uh, where things are right now

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Speaker 1: for gambling. And of that of those twenty six million

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Speaker 1: that you mentioned that are going to be gambling on it, uh,

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Speaker 1: four million are going to do it at a brick

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Speaker 1: and mortar sports book, you know. That's up from last year. Uh.

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Speaker 1: And five million are gonna do it mobile at an

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Speaker 1: operator that has you know, its own mobile site. That's up.

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Speaker 1: So you know that we're at least seeing some of

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Speaker 1: the growth on the legal side. Obviously, UM, that is

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Speaker 1: happening because of the Supreme Court decision two years ago.

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Speaker 1: And you know this process by which we've now at

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Speaker 1: now at fourteen states that have have legal gambling, right,

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Speaker 1: and I should add to that. Because of that, it

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Speaker 1: has generated more than a hundred forty million dollars in

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Speaker 1: tax revenue ever since the U. S. Supreme Court looked

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Speaker 1: at the federal ban on sports betting in and someone asked, me, Uh,

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Speaker 1: where do you see sports betting going in the future.

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Speaker 1: I know, uh, it sounds like a general question, but

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Speaker 1: it's a very good question. And someone said, well, will

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Speaker 1: it move like a glacier? And I said, it's going

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Speaker 1: to probably move on the fast track. I think in

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Speaker 1: ten years about half of the United States will be

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Speaker 1: somehow betting with sports. Yeah. And we're kind of in

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Speaker 1: this this nascent period right now where so much of

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Speaker 1: the money that these operators are spending is on customer acquisition,

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Speaker 1: you know, because there it's still early stages, and everyone's

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Speaker 1: trying to get more people in the states where they're

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Speaker 1: operating to to to bet with them versus their competitors.

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Speaker 1: And at some point that kind of ratio of money

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Speaker 1: spent on customer acquisition versus spent on on on innovation

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Speaker 1: is going to shift a little bit. And I think

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Speaker 1: at some point we're gonna see this push and we

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Speaker 1: may already be seeing it already where companies are going

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Speaker 1: to maybe focused a little less on advertising and just

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Speaker 1: getting their name out there, and maybe a little bit

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Speaker 1: more on doing more innovative things around sports gambling and

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Speaker 1: trying to differentiate themselves from their competitors that way. So

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Speaker 1: you're right, I think we're going to see the pace

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Speaker 1: of innovation pick up significantly as the market matures and

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Speaker 1: as we get more states on board. And we have

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Speaker 1: a significant deal today in the sports media and gambling arena.

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Speaker 1: Bar Stool Sports has agreed to sell the thirty six

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Speaker 1: percent stake in the company to casino operator Penn National Gaming. Yeah,

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Speaker 1: the valuation on bar school in this four and fifty

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Speaker 1: million dollars. This is I mean, it's all you know,

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Speaker 1: so many of the topics today are all interconnected. But

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Speaker 1: this is a deal that happens because the Supreme Court

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Speaker 1: legalized or allowed states to legalize sports betting two years ago.

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Speaker 1: You know, the barstools valuation and Barstool originated, you know,

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Speaker 1: two thousand and three, when Dave Port and I started

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Speaker 1: this as a you know, a paper, like an actual

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Speaker 1: physical paper. It was all gambling and Barstool has done

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Speaker 1: a great job media wise in in kind of cultivating

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Speaker 1: its audience and and the the overlap between Barstool readers,

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Speaker 1: slash listeners and sports gamblers, from what I've been told

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Speaker 1: is is a very strong correlation. But this is a deal. Obviously,

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Speaker 1: Penn National is a gaming company. This is a deal

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Speaker 1: and evaluation that happens just because everybody thinks that sports

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Speaker 1: gambling is going to continue to grow and continue to become,

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Speaker 1: you know, a multibillion dollar industry. See, we could put

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Speaker 1: something together business of Sports in along with Barts because

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Speaker 1: and you know, we could put this together, man, And

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Speaker 1: could you be a tout for us, Michael, I'll be anything, man.

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Speaker 1: You're talking hundreds of millions of mallee. Yeah. And and

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Speaker 1: Barstool is a fascinating one, you know because you know,

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Speaker 1: there's obviously a lot of controversy around it. You know,

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Speaker 1: Dave Portnoy, who is the is the founder and the

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Speaker 1: most popular, you know, the most popular personality there as well.

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Speaker 1: You know, they have some sketchy history that he and

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Speaker 1: and some others have said some some some some uh

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Speaker 1: some bad things about women. You know, they just recently

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Speaker 1: had a had a kerfuffle over you know, they're the

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Speaker 1: labor tirade that he went on last year. Turns out

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Speaker 1: that Barstool had created a fake social media account to

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Speaker 1: pretend to be a union that was maybe helping start

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Speaker 1: a labor movement within within the company. So there's some

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Speaker 1: sketchiness there, and I know that some of the companies

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Speaker 1: that looked at it were maybe a little concerned about that.

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Speaker 1: Um but you know, this is a you know, a

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Speaker 1: hundred and thirty six million the pen is putting in

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Speaker 1: right now to buy stake away from Turning Group, which

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Speaker 1: was the only investor I think ever in Barstool. This

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Speaker 1: is massive valuation, and I think there's a lot of

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Speaker 1: other smaller media companies out there who are thinking, Man,

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Speaker 1: there's a big opportunity for us in the market now,

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Speaker 1: given that barsh will just set the bar that high. Finally,

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Speaker 1: even I want to talk about some of the luxury

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Speaker 1: packages we're seeing in Miami for the Super Bowl this year.

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Speaker 1: A private junt service, a personal butler. Yeah, this goes

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Speaker 1: on and on. Yeah, I mean, what do we got,

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Speaker 1: give me the give me the big ones. Oh well,

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Speaker 1: you can have dinner with Rob Gunkrowski, the former Patriot Star,

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Speaker 1: And that's on the cheap end, there's a pack. How

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Speaker 1: much is that? Uh? That is an average of around

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Speaker 1: maybe dollars to have dinner with Rob Kronkowski. Well, it

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Speaker 1: comes with the Super Bowl tickets. But if you want

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Speaker 1: the ridiculous end, there's one package that includes a four

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Speaker 1: day cruise around the Caribbean on a private yacht after

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Speaker 1: the game for seven hundred twenty thousand dollars. WHOA Who's

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Speaker 1: the service is that? NFL on Location Who's who? Well? Up,

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Speaker 1: I think part of that is Location Experiences. Uh. They

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Speaker 1: they are part of the package this year in Atlanta.

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Speaker 1: Now they have a package where they're selling for about

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Speaker 1: in that range, about up the thirty five thousand dollars.

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Speaker 1: So you get the game tickets, you get a pregame

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Speaker 1: party and a show with Darius Rucker and a chance

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Speaker 1: to mingle with football legends like Dan Marino and Marcus Allen.

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Speaker 1: I wouldn't mind that you go, And we don't have

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Speaker 1: to rehash NFL on Location Experiences, a company that just

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Speaker 1: sold recently. But this is the vision that the NFL

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Speaker 1: had when it invested in the company, using its own

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Speaker 1: i P and its own events and doing things around

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Speaker 1: those events to sell very very expensive luxury packages in

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Speaker 1: the Super Bowl is not the only place they do it,

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Speaker 1: but it's probably the place where where you see it

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Speaker 1: flexed the most. Um. But yeah, I don't have that

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Speaker 1: kind of money. I will not be Uh. I will

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Speaker 1: not be on the yacht for four days after the

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Speaker 1: after the Super Bowl. I love the way they describe

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Speaker 1: this other blingingest packages. Uh. It includes uh, the IP

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Speaker 1: tables to the Maxim magazine party where the chain smokers

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Speaker 1: will perform on a private island. That's around twenty dollars

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Speaker 1: unless you want to grab eleven of your closest friends

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Speaker 1: and hitch a ride on a private helicopter for sixty

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Speaker 1: five dollars. Uh. You can also hang out at a

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Speaker 1: swanky hotel South Beach offering oh my goodness, one point

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Speaker 1: five million dollars in this package for twenty that includes

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Speaker 1: air fair, game tickets, a private butler, lodging at ten

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Speaker 1: ocean front homes, a private dinner, and a personal guru.

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Speaker 1: A personal guru. What the sam hill is that? Man? Man,

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Speaker 1: I've never heard that before. Yeah, well I'll be at

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Speaker 1: home eating to Rito's without your personal gear. Well that

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Speaker 1: would be Mrs Barr, but that's another story. Uh. This

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Speaker 1: is the Bloomberg Business of Sports podcast on Michael bar

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Speaker 1: along with Evan now Wi Williams. We're here each and

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Speaker 1: every Monday, Wednesday and Thursday exploring the world of money

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Speaker 1: in sports. Join us again at the end of the

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Speaker 1: week when we speak with the biggest and brightest in

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Speaker 1: the sports business world. You're listening to Bloomberg Business of

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Speaker 1: Sports on Bloomberg Radio of around the world and online

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Speaker 1: wherever you get your podcast.