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Speaker 1: This is Bloomberg Business of Sports. The world changing and

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Speaker 1: what are the things we can do to transform our

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Speaker 1: business and engage our fans globally in different ways. People

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Speaker 1: are using their name and likeness to create more opportunities,

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Speaker 1: more stakes and companies. In order to turn the organization around,

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Speaker 1: we had to turn it around not only just on

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Speaker 1: baseball operations side, but other business operations side well, and

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Speaker 1: any other sport is very difficult, but I like to

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Speaker 1: blot my horizons and be able to expand. Sports need

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Speaker 1: to be consumed a lot and not to the big

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Speaker 1: competitive advantage for intual property holders of sports content in

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Speaker 1: the media landscape. Bloomberg Business of Sports from Bloomberg Radio.

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Speaker 1: Hi everyone, I'm Jason Kelly, and I'm Mike Lynch and

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Speaker 1: I'm Michael Barr. We will talk about the big money

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Speaker 1: issues in the world of sports in our Bloomberg Business

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Speaker 1: of Sports podcast. Alright, guys, so Monday morning, we're breaking

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Speaker 1: it down from the weekend. Let's start, you know, in

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Speaker 1: the obvious place, the movie theater or you know, probably

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Speaker 1: more likely my couch and lots of couches, lots of

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Speaker 1: people downloading or viewing or maybe even going to a

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Speaker 1: movie theater to see Space Jam a new legacy. This,

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Speaker 1: of course, the long awaited sequel to the movie that

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Speaker 1: one started, Michael Jordan's. This one stars the other end

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Speaker 1: of the goat argument, Lebron James Lynchy. Pretty good numbers.

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Speaker 1: You know, we're used to Lebron putting up pretty good numbers.

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Speaker 1: He put up a good number at the box office.

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Speaker 1: He's not even in uniform for this one officially, but

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Speaker 1: he put up big, big numbers. So that mark of

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Speaker 1: thirty one point six million doesn't include you and all

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Speaker 1: the other people on the coach. That's just people who

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Speaker 1: actually went to a movie theater was something that a

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Speaker 1: lot of people haven't been to in a long long time.

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Speaker 1: It had bad reviews, but people didn't care. And as

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Speaker 1: Teddy Roosevelt said, it's not the critic that counts. It's

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Speaker 1: the man in the arena, and in the arena his

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Speaker 1: Lebron and all the Looney Tunes characters, and they just delivered.

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Speaker 1: And you know, it's perfect timing. I mean, look at this.

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Speaker 1: In the Northeast. It was a rainy weekend. People are

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Speaker 1: looking for things to do. The NBA Finals are still

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Speaker 1: going on, and there was just a onslaught of social

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Speaker 1: media promoting this movie, and it all worked, and it

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Speaker 1: clicked in weekend number one. Mark this down as I'm

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Speaker 1: pretty sure the only time in history where that Teddy

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Speaker 1: Roosevelt quote for Looney Tunes Michael Barr, I mean space jam.

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Speaker 1: We we all remember the O G and uh again.

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Speaker 1: As I said, this was this was long waited. But

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Speaker 1: the timing, the timing is great. And I have to say,

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Speaker 1: and Lynch, she's sort of alluding to this sort of

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Speaker 1: doesn't matter if it's a good movie, right, let me

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Speaker 1: tell you what this movie is for. And and Lindsey

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Speaker 1: hit the nail on the head and and it's this

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Speaker 1: is for guys like me who used to watch the

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Speaker 1: old Warner Brothers cartoons many years ago, and we're looking

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Speaker 1: for an excuse to to watch something like that again.

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Speaker 1: So you get the grand kids or you get to

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Speaker 1: youngest child and you watched this movie, is like, okay,

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Speaker 1: I'll watch it with you. And you're giggling in the

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Speaker 1: background when Daffy Duck, you know, gets it just like

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Speaker 1: everybody else goes. You remember all those old Bugs Bunny

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Speaker 1: cartoons were Daffy Duck gun. So this is what this

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Speaker 1: is all about that's what I want to watch it. Well,

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Speaker 1: it's interesting too. I mean, so my two teenagers were

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Speaker 1: watching it last night. Of course late into the night

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Speaker 1: after I went to bed. I had already watched it

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Speaker 1: because you know, um, I don't stay up as late

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Speaker 1: as a as a teenager. But uh, you know, they

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Speaker 1: were into it and and as my eighteen year old

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Speaker 1: son Will said, he's like, it's probably not gonna win

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Speaker 1: any Oscars, but it's very entertaining. And listen, they have

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Speaker 1: a connection with this generation of players in the same

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Speaker 1: way that you know, I was roughly their age when

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Speaker 1: the original Space Jim came out with with Michael Jordan's

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Speaker 1: and you know, we all watched it because it was

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Speaker 1: Michael Jordan. They're watching it because it's Lebron. It's also interesting,

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Speaker 1: and we talked about this on the show over the weekend.

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Speaker 1: This also comes at a very fortunate as time, Lynchy

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Speaker 1: for Lebron and his spring Hill Company, the media company,

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Speaker 1: media and entertainment production company that he started with his

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Speaker 1: friend Maverick Carter, his longtime business partner and childhood friend

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Speaker 1: Maverick Carter. Uh, they are reportedly uh entertaining some offers

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Speaker 1: to sell that company spring Hill. Nike is reportedly at

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Speaker 1: least expressed some interest. You know, my sources say there's

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Speaker 1: interest far beyond Nike uh in this uh in this company.

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Speaker 1: Space Jam is probably one of, if not the highest

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Speaker 1: profile things that they've produced so far. This has been

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Speaker 1: in the works for now a couple of years, and

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Speaker 1: obviously the pandemic um you know, altered the way it

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Speaker 1: was both created, produced and distributed. Also a good time

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Speaker 1: for that because they made a hit, you know, and

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Speaker 1: hit makers get paid yep. And among others there is

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Speaker 1: there's some streaming video providers, as you know, some technology

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Speaker 1: companies are interested along with Nike as well. And it's

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Speaker 1: a perfect time for from Maverick and Lebron and the

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Speaker 1: spring Hill productions. And this thing is gon is gonna

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Speaker 1: have legs. I mean, the Space Jam still has legs.

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Speaker 1: And this legs is gonna go for a long time.

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Speaker 1: Think about it. I mean, you know, when a movie

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Speaker 1: comes out, this thing appeals to a two year old

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Speaker 1: and a ninety two year old and every age in between.

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Speaker 1: And this is gonna be This is gonna have legs,

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Speaker 1: and it's gonna just elevate Lebron status as a basketball

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Speaker 1: player and as a business person. Not sure about an actor,

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Speaker 1: but certainly his persona as as a business person. Yeah,

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Speaker 1: now it does need to make a fair amount of money.

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Speaker 1: It costs a hundred and fifty million dollars to make, um,

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Speaker 1: so they need to to keep on tracking. But uh,

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Speaker 1: you know, it did surprise on the upside in terms

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Speaker 1: of the domestic box office. It's a good sign for

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Speaker 1: movie theater chains. Uh. It eclipsed Black, which of course

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Speaker 1: comes out of the Disney Marvel universe. Uh, that's Scarlett

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Speaker 1: Johnson's vehicle Black Widows. So anyway, we'll keep an eye

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Speaker 1: on that. And obviously the consumption is also gonna be

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Speaker 1: interesting to kind of break down how, how and where

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Speaker 1: people are consuming it, you know, as you alluded to, Lynch, Uh,

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Speaker 1: this was a situation where lots of folks were like

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Speaker 1: me and watching it via HBO Max And but I

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Speaker 1: think they're happy to get a little bit of movie

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Speaker 1: theater distribution here as well. Um, all right, well we're

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Speaker 1: all still glued to the couch watching the NBA Finals.

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Speaker 1: They're still going on the bucks now a game away

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Speaker 1: fear the Deer, Lynchy. I mean, this is good. I

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Speaker 1: have to say This is good for the NBA. It's

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Speaker 1: great for the NBA. You've got a very likable team

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Speaker 1: that hasn't won in fifty years. You've got the Phoenix

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Speaker 1: Sun so who have never won an NBA championship. Uh

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Speaker 1: great home crowds, there's a lot of I'm glued to it.

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Speaker 1: I love down in Phoenix. When the Bucks are at

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Speaker 1: the line and the crowd is kind of trying to

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Speaker 1: count down the shooter. I think it affected Janice down

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Speaker 1: the down the down the stretch. He missed three file

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Speaker 1: shots and I know he was counting in his head.

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Speaker 1: He said, they counting really so they like to two

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Speaker 1: seconds behind or the one second behind. And now we

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Speaker 1: moved to the Deer District, which is always open no

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Speaker 1: matter what the home or away. And there's still a

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Speaker 1: few seats left for Game six tomorrow night. You can

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Speaker 1: have a courtside seat for seventeen thousand dollars, which I

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Speaker 1: think is the current prize money for number of the week.

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Speaker 1: Michael Bars, it's pretty wrong. It's close to that over

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Speaker 1: under over under prices, right that. Uh so, what do

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Speaker 1: you make of this? Files? You know, I mean, I

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Speaker 1: feel like Bar from a business perspective, we were wincing

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Speaker 1: at this a little bit because Milwaukee, I believe is

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Speaker 1: the smallest market UM and the NBA so and you know,

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Speaker 1: when we talked to the president of that franchise just

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Speaker 1: a couple of weeks ago, he talked about how, you know,

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Speaker 1: they've got a draw on essentially so many people, like

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Speaker 1: in their local um geography there they don't have the

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Speaker 1: benefit of being in a New York or in l

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Speaker 1: A or Houston, or even in Atlanta in terms of

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Speaker 1: their fan base. But Janice transcends in many ways. And

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Speaker 1: I do think you have some national interests like Lynchy

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Speaker 1: who who were gravitating toward towards the Superstars. I thought

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Speaker 1: two things when it turned out to be Milwaukee against Phoenix.

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Speaker 1: My first thought was like, oh god, no, this is

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Speaker 1: gonna be ratings disaster. Instead, everybody's watching it because one,

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Speaker 1: it is exciting and to a lot of people are

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Speaker 1: watching it what basketball fans. Of course I'm gonna watch it,

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Speaker 1: but people are watching it for the art of the game.

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Speaker 1: And then the second thing happened. I thought, when Janice

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Speaker 1: was injured, I'm like, oh man, this is gonna be

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Speaker 1: trouble for the Bucks. Now Janice just stepped up and

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Speaker 1: and he proved why he is one of the greatest

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Speaker 1: today in the n b A. And this is exciting

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Speaker 1: to watch. And we were talking about this off but

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Speaker 1: just before we went on for the podcast, I could

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Speaker 1: see this going a game seven also, Yeah, yeah, for sure.

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Speaker 1: I mean I think there was a sense that it

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Speaker 1: might go to seven already with the assumption that the

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Speaker 1: Suns were gonna win Game five, which they did not.

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Speaker 1: I mean, they came, they came very close, and there

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Speaker 1: was a very there have been some very very dramatic

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Speaker 1: and eye popping plays down the stretch. That again, when

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Speaker 1: you think about ratings are really close. Games are good

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Speaker 1: for ratings. People stay tuned in, they stay engaged. Uh,

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Speaker 1: and then there's a lot of reviewing and it goes

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Speaker 1: viral and you know, both the alp at the end

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Speaker 1: of game six and then of course the Honest's Block

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Speaker 1: at the end of game towards the end of game five,

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Speaker 1: you know, are you know, stand to be iconic for sure. Um,

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Speaker 1: So we'll keep an eye on that. Obviously. The fact

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Speaker 1: of the matter is that longer series generate more money.

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Speaker 1: They generate more money in advertising, they generate more money

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Speaker 1: for the teams, you know, millions of dollars in terms

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Speaker 1: of the gate and you know, I think it's also

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Speaker 1: really interesting, and you mentioned it, Lynch, this whole deer

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Speaker 1: district around the Arena there, around the fights of Arena

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Speaker 1: and Milwaukee. I have to think if you are Sint

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Speaker 1: Marshall at the Mavericks, if you're Steve Conan down at

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Speaker 1: the Hawks, if you're anybody running a team, you're like, okay,

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Speaker 1: well they're onto something there, because that is it's dramatic

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Speaker 1: for a broadcaster. It's gotta be a ton of fun

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Speaker 1: for the fans. And those are local businesses that are

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Speaker 1: doing quite well when twenty thousand people show up for

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Speaker 1: a couple hours before the game, during the game, and

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Speaker 1: then especially if they win, uh, celebrating or maybe drowning

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Speaker 1: their sorrows after the game. So that that's real. That's

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Speaker 1: a real economic engine that I think can't be overlooked

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Speaker 1: when when you think about the ecosystem that builds up

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Speaker 1: around successful franchises, it is you know, it's like New

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Speaker 1: Year's Eve, but New yearusally only happens once a Young

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Speaker 1: Times Square in the dear district. It happens, it's happening

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Speaker 1: a dozen times, and it could happen again on Thursday night.

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Speaker 1: If there's a Game seven in Phoenix, the Deer district

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Speaker 1: will be bumping absolutely absolutely yeah, So we'll we'll be

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Speaker 1: tuned in. Of course. I'm guessing you at least were

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Speaker 1: tuned in for a lot of the Open as they

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Speaker 1: call it. Lynch e Um Morikawa. I mean this guy,

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Speaker 1: I think if you haven't been paying close attention, he's

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Speaker 1: a comer when it comes to golf. This is a

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Speaker 1: guy who I mean, I love this statistic. The first

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Speaker 1: ever to win two majors in his first try. Crazy.

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Speaker 1: He he played golf at cal Berkley. He came onto

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Speaker 1: the scene and he has just been amazing. He wins

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Speaker 1: two point oh seven million yesterday he has made six

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Speaker 1: point nine million. This is just a purse winnings. He's

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Speaker 1: number one right now. But more importantly, I don't know

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Speaker 1: if anybody heard his when he after the Clara Chuck,

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Speaker 1: he gave upbout a little two minute speech and it

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Speaker 1: was just dripping with class, humility, dignity. He thanked all

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Speaker 1: the fans. Uh. He says that we missed you all

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Speaker 1: last year with the pandemic. He congratulated his caddie and

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Speaker 1: said it was his birthday, and the crowd broke into

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Speaker 1: Happy Birthday to his caddie. Uh, this is a likable guy.

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Speaker 1: Now the tour is looking for the face of the

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Speaker 1: tour Tiger. We don't know if he's ever coming back.

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Speaker 1: We don't know if Phil is ever gonna win again.

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Speaker 1: The Shambo keeps just stepping on himself and just can't

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Speaker 1: say do the right things Keptko has always gonna snarl

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Speaker 1: in his face. But this guy, Colin Maraka, I think

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Speaker 1: could emerge as the face of golf. He's likable. And

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Speaker 1: I'll tell you what, this guy can play. Yeah. Absolutely,

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Speaker 1: And and the Open, I think is is fascinating. I

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Speaker 1: don't know if you guys have ever been. I got

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Speaker 1: a chance to go many years ago with our our

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Speaker 1: friend who has been a guest on the show, Billy Andrei,

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Speaker 1: when he was playing there, and it's just a whole

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Speaker 1: different deal. Uh, Michael Barr, you would love the fans

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Speaker 1: at the Open because they are hooting and holler. And

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Speaker 1: I remember that we were sitting and waiting for the

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Speaker 1: group to come up that that Billy was playing in

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Speaker 1: and there was this noise we could not figure out

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Speaker 1: what it was. It was a guy passed out on

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Speaker 1: a hill snoring. Yeah, it sounds like my kind of crown.

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Speaker 1: And it's a little bit of Nascar and uh on

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Speaker 1: the links because this is a different sort of golf.

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Speaker 1: I mean that's the other interesting thing is you know,

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Speaker 1: and and Lynchy, this this is more for you as

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Speaker 1: a as a golfer. I think it's fascinating to see.

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Speaker 1: My understanding is that Morico is not a Lynx player

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Speaker 1: at all. I don't think he had ever played on

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Speaker 1: a links course until the Scottish Open the week before, right,

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Speaker 1: And you probably heard Paul aising Er mentioned a couple

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Speaker 1: of times he said, if I didn't play in the

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Speaker 1: Scottish Open, I would have zero chance to win the

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Speaker 1: Open or be in contention for the Open this past weekend.

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Speaker 1: I just love this guy and I'm sure the sponsors

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Speaker 1: love him. He's got a big deal with Taylor made, Omega, Adidas,

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Speaker 1: uh thorough body. US Bank just signed on with him

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Speaker 1: this year. They took it and he's only twenty four

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Speaker 1: years old. I mean, this guy is a winner. I mean,

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Speaker 1: just pay attention to him for a long long time.

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Speaker 1: I have to ask something to both of you, guys,

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Speaker 1: and you brought up a lot of sponsorships there, Lynchi

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Speaker 1: and and Jason also because we were seeing a bunch

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Speaker 1: of golfers just destroying their clubs left and right, and

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Speaker 1: people were getting the golfers were getting into trouble because

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Speaker 1: they were first said something that they shouldn't have said

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Speaker 1: about their sponsors for the clubs. And then I was

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Speaker 1: at the Shambo. I said, I'm sorry, I just I

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Speaker 1: just played poorly. And I'm wondering now if golfers need

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Speaker 1: you didn't see this really back in the day of

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Speaker 1: a golfer just breaking a club and this and that, whatever,

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Speaker 1: Is this the way golf is going to be now?

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Speaker 1: I don't think. I mean that the Shambo was just

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Speaker 1: so strong. He's like bow Jackson and when Bo broke

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Speaker 1: a bat over thigh when he struck out, well, de

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Speaker 1: Shambo could basically do the same thing with a golf club.

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Speaker 1: He criticized his Cobra golf club, which is specifically made

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Speaker 1: for him. It's five degrees, um, it's no one. You

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Speaker 1: can't find a driver in a in pro shopt under

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Speaker 1: eight or eight and a half degrees. And he's kind

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Speaker 1: of like he's again he's not a not a likable guy.

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Speaker 1: Kepta is not a likable guy. But this guy Morikawa

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Speaker 1: is great. There's an old saying, you know what, poor

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Speaker 1: Capenter blames his tools, and that's what the shambo is

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Speaker 1: category He's fallen into with a lot of people right now,

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Speaker 1: and that's a tough hole to crawl out of. It's

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Speaker 1: a tough hole to crawl out of. He is going

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Speaker 1: to the Olympics. He's on the Olympic team with Marikawa.

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Speaker 1: Wouldn't it be suppering of Marikawa goes over and just

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Speaker 1: parlays his open title with a gold medal in the Olympics. Yeah, exactly.

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Speaker 1: Keep an eye on that. If you didn't listen to it.

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Speaker 1: Speaking of the Olympics, go back and into the podcast

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Speaker 1: feed and listen to our conversation with the injury zemblance.

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Speaker 1: He's a professor at Smith College. He has done the

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Speaker 1: most work of anybody I've ever seen on the economics

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Speaker 1: of the Olympics. And it was a fascinating discussion, in

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Speaker 1: part because I did not fully appreciate until we have

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Speaker 1: this conversation what bad business the Olympics are um at

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Speaker 1: this point. And I am sorry to say over the

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Speaker 1: weekend it feels like it's taking at least a slight

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Speaker 1: turn even for the worse, as you've got the likes

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Speaker 1: of Cocoa golf, American tennis player of course testing positive

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Speaker 1: for COVID, taking yourself out of the Olympics, she's unable

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Speaker 1: to compete. You had a gymnast who as of this

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Speaker 1: recording has not been named from the US who has

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Speaker 1: tested positive, got a couple other athletes there in the

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Speaker 1: Olympic village. So it's not enough to to really endanger

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Speaker 1: the games, obviously, either from a health perspective or just

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Speaker 1: from going forward perspective. But this Paul certainly hanging over

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Speaker 1: these already delayed games and what was already a tough business.

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Speaker 1: Michael bar is just gonna be I mean, Tokyo and

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Speaker 1: Japan are just gonna lose a ton of money, Yes

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Speaker 1: they are. And I have to tell you there were

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Speaker 1: so many things that I read about this Olympics that

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Speaker 1: amazed me. And one of the one of the biggest

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Speaker 1: quirky things that I read was that the Olympic Committee

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Speaker 1: organizers put cardboard beds in the Olympic village where the

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Speaker 1: athletes are going to stay. The reason why and they're

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Speaker 1: trying to cut down on covid is because they want

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Speaker 1: to cut down on two people in a bed, so

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Speaker 1: it will is designed to collapse. Now, I don't have

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Speaker 1: to explain more when I say two people in a

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Speaker 1: bed family talking about it's I read that and I'm like,

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Speaker 1: you've got to be kidding, it's you know, but I

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Speaker 1: had no idea that that was in play. That shows

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Speaker 1: you what they're trying to do to stop the spread

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Speaker 1: of this virus. But apparently it's not working because one

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Speaker 1: of the athletes was jumping up and down in the

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Speaker 1: cardboard bed. So I don't know what the heck is

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Speaker 1: going on here. Now, I did hear that there was

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Speaker 1: there was some dispute about that whether the cardboard beds

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Speaker 1: preceded the pandemic or not, and whether this was just

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Speaker 1: a happy accident, that maybe it was a preventative measure.

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Speaker 1: But in any case, it is a cardboard bed. It

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Speaker 1: does ultimately um discourage you know, what is well known

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Speaker 1: to be one of the shall we say, fringe benefits

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Speaker 1: of being in the Olympic village. That is well known.

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Speaker 1: That's a well known part of the Olympics. Uh. In

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Speaker 1: any case, not being an olympian myself. I only I said,

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Speaker 1: people have said, people have said, people are saying, I

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Speaker 1: would you like could be I'd like to be a

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Speaker 1: summer wrestler and get the key to your Exactly. I

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Speaker 1: think I'm just gonna PLoP down here. It's been a

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Speaker 1: long fight. Boom, yeah, exactly. Can I get some reinforced

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Speaker 1: cardboard in my village room? So it's very we lost part.

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Speaker 1: Oh god, am I supposed to lock it out here?

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Speaker 1: I guess I'll lock it out. Uh. This is the

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Speaker 1: Bloomberg Business of Sports podcast. You can catch this podcast

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Speaker 1: every Monday, Wednesday and Thursday. I'm Michael Bar on Twitter

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Speaker 1: at Vic Bart's Sports. We just need him to behave himself.

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Speaker 1: Oh sweet dreams, big Bar. I'm Micha Lynch. You can

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Speaker 1: follow me at Lynch w CBB, and I'm Jason Kelly.

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Speaker 1: Follow me at Jason Kelly News. Catch us later on

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Speaker 1: in the week as we explored the issues around money

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Speaker 1: and sports. I'm just seeing the super wrestler hut it down.

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Speaker 1: Oh man. This is the Bloomberg Business of Sports. You

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Speaker 1: can hear this show even more of this extended version.

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Speaker 1: Catch that wherever you get your podcast