1 00:00:02,480 --> 00:00:07,080 Speaker 1: Bloomberg Audio Studios, Podcasts, Radio News. 2 00:00:12,039 --> 00:00:12,840 Speaker 2: Welcome back to the Deal. 3 00:00:12,880 --> 00:00:15,880 Speaker 3: I'm your host, Jason Kelly Longs on my partner Alex Rodriguez. 4 00:00:16,200 --> 00:00:18,880 Speaker 3: All right, Alex, a lot of baseball talk today. Coming 5 00:00:18,960 --> 00:00:20,599 Speaker 3: up on the show. We're gonna have Sam Kennedy, the 6 00:00:20,640 --> 00:00:24,080 Speaker 3: CEO of Fenway Sports Group, talking about the Red Sox. 7 00:00:24,640 --> 00:00:29,040 Speaker 3: You're in Atlanta, my hometown, where you've just completed covering 8 00:00:29,160 --> 00:00:32,840 Speaker 3: the All Star Game. I'm actually, in a strange way 9 00:00:33,360 --> 00:00:37,760 Speaker 3: in your og baseball town, Seattle, where you started your career. 10 00:00:37,920 --> 00:00:41,520 Speaker 3: It's wild to think back to those days. I'm sorry 11 00:00:41,560 --> 00:00:43,519 Speaker 3: to have missed you in Atlanta, but I had to 12 00:00:43,560 --> 00:00:45,320 Speaker 3: be out here for Bloomberg Green and we'll talk about 13 00:00:45,320 --> 00:00:47,279 Speaker 3: that in a second. But how was it like? What 14 00:00:47,400 --> 00:00:49,559 Speaker 3: was the vibe there at the Battery? I wish the 15 00:00:49,560 --> 00:00:51,400 Speaker 3: Braves were better, but it sounds like they at least 16 00:00:51,400 --> 00:00:52,400 Speaker 3: put on a good. 17 00:00:52,200 --> 00:00:56,080 Speaker 4: Party, a great party, And you're right, I think that's 18 00:00:56,120 --> 00:00:57,880 Speaker 4: the point. I wish the Braves had one of their 19 00:00:57,880 --> 00:01:01,000 Speaker 4: magical seasons they usually have to be able to celebrate 20 00:01:01,040 --> 00:01:04,720 Speaker 4: the first half. What I found here is what Atlanta, 21 00:01:04,760 --> 00:01:07,360 Speaker 4: Georgia is an incredible place. I really love it. The 22 00:01:07,440 --> 00:01:12,880 Speaker 4: people are wonderful, huge sports fans. That complex another John 23 00:01:12,920 --> 00:01:15,640 Speaker 4: Malone production, because Atlanta Braids are a public company under 24 00:01:15,680 --> 00:01:17,920 Speaker 4: John Malone's umbrella, just. 25 00:01:17,880 --> 00:01:19,920 Speaker 2: Like f One. They've done an incredible job. 26 00:01:19,959 --> 00:01:22,360 Speaker 4: I mean, I had the Great Room in the seventh 27 00:01:22,360 --> 00:01:25,399 Speaker 4: floor overlooking right center field. It was the best hotel 28 00:01:25,480 --> 00:01:28,000 Speaker 4: room I've ever stayed in. And then there's great restaurants, 29 00:01:28,040 --> 00:01:30,280 Speaker 4: great vibe. And then we did the pregame show for 30 00:01:30,360 --> 00:01:34,160 Speaker 4: Fox pre and post out in the pavilion where you 31 00:01:34,200 --> 00:01:36,600 Speaker 4: have what's called the Battery, and it felt like it 32 00:01:36,640 --> 00:01:39,440 Speaker 4: was Alabama LSU. The people were going crazy, but most 33 00:01:39,480 --> 00:01:43,319 Speaker 4: importantly the people, the league, everyone was very hospitable here. 34 00:01:44,000 --> 00:01:47,080 Speaker 3: Yeah, it is amazing what they've done. And I think 35 00:01:47,080 --> 00:01:49,920 Speaker 3: we've talked about this on the show before. You know, 36 00:01:50,400 --> 00:01:52,840 Speaker 3: I've been a Braves fand forever I grew up there. 37 00:01:52,880 --> 00:01:54,560 Speaker 3: My parents are both from Atlanta, and you know, you 38 00:01:54,640 --> 00:01:57,800 Speaker 3: know them, and you know, there was a lot of 39 00:01:57,840 --> 00:02:01,320 Speaker 3: consternation when the Braves left downtown. They were going out 40 00:02:01,360 --> 00:02:03,320 Speaker 3: to Cobb County. No one really knew how it was 41 00:02:03,360 --> 00:02:06,920 Speaker 3: going to go. What I love about this for you 42 00:02:07,800 --> 00:02:10,520 Speaker 3: is like two of the things you love the most, 43 00:02:10,600 --> 00:02:14,200 Speaker 3: baseball in real estate like colliding in the most perfect way. 44 00:02:14,280 --> 00:02:17,280 Speaker 3: So I have to imagine, knowing how you think that, 45 00:02:17,720 --> 00:02:20,520 Speaker 3: Like you've got baseball on one side of your brain, 46 00:02:20,680 --> 00:02:22,240 Speaker 3: but then the rest of the time you're like. 47 00:02:22,200 --> 00:02:22,959 Speaker 2: Oh wow, okay. 48 00:02:23,040 --> 00:02:27,079 Speaker 3: They put that retail there, and they did the residential 49 00:02:27,080 --> 00:02:29,760 Speaker 3: in displace, and the hospitality here and the hotel and 50 00:02:29,800 --> 00:02:30,160 Speaker 3: all that. 51 00:02:30,360 --> 00:02:33,200 Speaker 2: So it must have been a feast for the senses 52 00:02:33,240 --> 00:02:34,359 Speaker 2: for you, Jason. 53 00:02:34,400 --> 00:02:36,680 Speaker 4: I have two pages of notes, maybe three, but I 54 00:02:36,720 --> 00:02:39,800 Speaker 4: mean full notes on all the things that I found 55 00:02:40,040 --> 00:02:43,440 Speaker 4: that they'd write and unique that I hadn't seen before. 56 00:02:44,040 --> 00:02:45,800 Speaker 4: The one other shot I want to give out, Jason 57 00:02:45,840 --> 00:02:48,320 Speaker 4: is I thought MOLB did a fantastic job in honoring 58 00:02:49,040 --> 00:02:51,760 Speaker 4: one of my heroes, the great Hank Aaron, and they 59 00:02:51,760 --> 00:02:55,200 Speaker 4: did a great ceremony. The legacy of the Atlanta Braves 60 00:02:55,240 --> 00:02:58,840 Speaker 4: is awesome, and it's cemented by someone like Hank Aaron, 61 00:02:58,880 --> 00:03:02,680 Speaker 4: who I worried so much for people like myselves and others. 62 00:03:03,200 --> 00:03:04,960 Speaker 4: And not only was he a great player, but he 63 00:03:05,080 --> 00:03:08,120 Speaker 4: was just a great example for everyone who loves baseball. 64 00:03:09,080 --> 00:03:12,560 Speaker 3: I have to say I love the recreation of you know, 65 00:03:12,600 --> 00:03:14,760 Speaker 3: the record setting home run. I thought that was just 66 00:03:14,960 --> 00:03:19,079 Speaker 3: incredible and listen. I think as any sort of sports fan, 67 00:03:20,160 --> 00:03:23,760 Speaker 3: there are certain moments, you know, if you had to 68 00:03:23,880 --> 00:03:27,000 Speaker 3: name sort of the five most important moments that you could, 69 00:03:27,000 --> 00:03:30,600 Speaker 3: like rewatch, and rewatch, and rewatch. Hank Aaron hitting that 70 00:03:30,680 --> 00:03:34,440 Speaker 3: home run is one of them. It's like miracle on ice, 71 00:03:34,480 --> 00:03:37,680 Speaker 3: you know. It's these things that you know are absolutely 72 00:03:37,760 --> 00:03:40,880 Speaker 3: indelible in the culture and to your point, sort of 73 00:03:40,960 --> 00:03:46,200 Speaker 3: remind us how how much sports can really influence the 74 00:03:46,240 --> 00:03:49,960 Speaker 3: broader conversation, the broader world. Yeah, I am very jealous 75 00:03:50,000 --> 00:03:52,240 Speaker 3: that you were there. I was here in Seattle actually 76 00:03:52,280 --> 00:03:57,040 Speaker 3: interviewing another owner in the sports world, Samantha Holloway, obviously 77 00:03:57,080 --> 00:03:59,720 Speaker 3: the owner of the Kraken, daughter of the late David Bonderman, 78 00:03:59,800 --> 00:04:02,640 Speaker 3: who you know, I knew through my private equity days 79 00:04:03,000 --> 00:04:05,400 Speaker 3: what she has done in Seattle with the Kraken and 80 00:04:05,560 --> 00:04:07,560 Speaker 3: Climate Pledge arena. I don't know if you've ever been 81 00:04:07,720 --> 00:04:11,840 Speaker 3: to Climate Pledge. It is incredible. This town has changed 82 00:04:11,840 --> 00:04:14,600 Speaker 3: a lot since you started your career here low those 83 00:04:14,640 --> 00:04:15,400 Speaker 3: many years ago. 84 00:04:15,440 --> 00:04:16,800 Speaker 2: But it's a great sports. 85 00:04:16,440 --> 00:04:19,200 Speaker 4: Sound and they're hungry, and they're hungry. They love all 86 00:04:19,200 --> 00:04:21,240 Speaker 4: the sports. I remember they used to love the Sonics. 87 00:04:21,640 --> 00:04:24,680 Speaker 4: I remember sometimes sitting with Paul Allen, one of the 88 00:04:24,680 --> 00:04:27,240 Speaker 4: co founders of Microsoft with Bill Gates. He was said, 89 00:04:27,320 --> 00:04:29,520 Speaker 4: right behind the court, right there, right behind the hoop, 90 00:04:29,960 --> 00:04:32,320 Speaker 4: and they sold out I think like fifteen years in 91 00:04:32,400 --> 00:04:35,159 Speaker 4: a row. So they missed their basketball. They love their football. 92 00:04:35,160 --> 00:04:38,200 Speaker 4: They're incredible baseball fans. And what people forget, Jason is 93 00:04:38,839 --> 00:04:41,839 Speaker 4: you don't own that market. You own, like the whole 94 00:04:41,920 --> 00:04:45,560 Speaker 4: Northwest is yours, including yes, Vancouver and parts of Canada. 95 00:04:45,600 --> 00:04:47,320 Speaker 4: We had tons of fans that will come from Canada 96 00:04:47,480 --> 00:04:50,680 Speaker 4: all the time, especially in the summertime. But you're right, 97 00:04:50,839 --> 00:04:53,719 Speaker 4: is a vibrant city. They love their sports, and because 98 00:04:53,760 --> 00:04:55,520 Speaker 4: they're so far in the Northwest, I think there's a 99 00:04:55,520 --> 00:04:57,560 Speaker 4: little chip on their shoulder, maybe a big chip, yep. 100 00:04:57,600 --> 00:04:59,440 Speaker 4: That makes him some of the best fans in the world. 101 00:04:59,600 --> 00:05:02,640 Speaker 3: Yeah, No, they are serious fans for sure. And Sam 102 00:05:02,720 --> 00:05:04,960 Speaker 3: was quick to point out that, you know, basketball is 103 00:05:05,000 --> 00:05:07,599 Speaker 3: still very much here in the form of Seattle Storm, 104 00:05:08,440 --> 00:05:11,280 Speaker 3: the WNBA franchise. You know, they play their games, all 105 00:05:11,279 --> 00:05:13,440 Speaker 3: their home games there at Climate Pledge Arena, which is 106 00:05:13,480 --> 00:05:17,159 Speaker 3: a really cool venue. And superd has been a guest 107 00:05:17,200 --> 00:05:20,760 Speaker 3: on this show. We know the power of the w here. 108 00:05:21,160 --> 00:05:24,080 Speaker 3: In fact, Interestingly enough, someone told me while I was 109 00:05:24,120 --> 00:05:28,719 Speaker 3: here that Seattle was the first. And this just happened 110 00:05:28,720 --> 00:05:32,640 Speaker 3: recently with the PWHL, the Professional Women's Hockey League, announcing 111 00:05:32,680 --> 00:05:35,320 Speaker 3: they were gonna have a team here. It's the first 112 00:05:35,360 --> 00:05:40,640 Speaker 3: city to have all three major women's professional sports franchises, 113 00:05:40,680 --> 00:05:44,840 Speaker 3: so hockey, basketball, and soccer, and a lot going on here. 114 00:05:44,920 --> 00:05:47,880 Speaker 3: As you know, like again, you are a young person here. 115 00:05:47,880 --> 00:05:51,039 Speaker 3: It's a young person's town. It's a tech driven town. 116 00:05:51,160 --> 00:05:54,080 Speaker 3: There's a lot of innovation. You know, people loved to 117 00:05:54,080 --> 00:05:57,240 Speaker 3: get outdoors, especially this time of year. I'm such a 118 00:05:57,320 --> 00:06:00,600 Speaker 3: rube sometimes it's like I sort of forgot where it 119 00:06:00,720 --> 00:06:05,719 Speaker 3: was in latitude. It's light until like ten to thirty 120 00:06:05,760 --> 00:06:07,520 Speaker 3: at night this end of the year. 121 00:06:07,560 --> 00:06:08,279 Speaker 2: It's crazy. 122 00:06:08,279 --> 00:06:10,560 Speaker 3: It must have been wild to play baseball here during 123 00:06:10,600 --> 00:06:11,320 Speaker 3: those times. 124 00:06:11,720 --> 00:06:12,480 Speaker 4: It was so wild. 125 00:06:12,560 --> 00:06:13,400 Speaker 2: You know what else was wild? 126 00:06:13,440 --> 00:06:15,719 Speaker 4: Jason Is. I always think like I started my first 127 00:06:15,800 --> 00:06:18,280 Speaker 4: year as an eighteen year old I was in nineteen 128 00:06:18,320 --> 00:06:21,040 Speaker 4: ninety four, and if I just took every dollar I 129 00:06:21,040 --> 00:06:24,279 Speaker 4: ever made in Seattle and invested in Seattle based companies, 130 00:06:24,880 --> 00:06:29,760 Speaker 4: you know, Born just Boying, Starbucks, Microsoft, Amazon, my goodness, 131 00:06:29,800 --> 00:06:32,200 Speaker 4: I mean, they're on fire and they have been over 132 00:06:32,200 --> 00:06:33,440 Speaker 4: the last twenty years. 133 00:06:33,640 --> 00:06:35,880 Speaker 3: Yeah, it's been really cool. You know, I've been spending 134 00:06:35,880 --> 00:06:38,120 Speaker 3: time with colleagues out here. We obviously have a Bloomberg 135 00:06:38,160 --> 00:06:42,200 Speaker 3: Bureau here in Seattle with some unbelievable reporters and editors 136 00:06:42,240 --> 00:06:44,960 Speaker 3: and just the storytelling that they're able to do for 137 00:06:45,040 --> 00:06:46,840 Speaker 3: all the reasons you're talking about. You know, these big 138 00:06:46,880 --> 00:06:52,800 Speaker 3: companies that are here, but the sports are really off 139 00:06:52,839 --> 00:06:56,560 Speaker 3: the chain. So excited to get to know them a 140 00:06:56,560 --> 00:06:59,320 Speaker 3: little bit more. In fact, next week, the NHL is 141 00:06:59,400 --> 00:07:02,440 Speaker 3: having their annual business meetings here in part because of 142 00:07:02,480 --> 00:07:04,800 Speaker 3: what Sam Holloway and the Kraken have done. 143 00:07:04,880 --> 00:07:06,320 Speaker 2: All right, So back to baseball. 144 00:07:06,440 --> 00:07:09,279 Speaker 3: Coming up on the show, Sam Kennedy, you know a 145 00:07:09,320 --> 00:07:11,120 Speaker 3: guy you've known for a while. I've gotten to know 146 00:07:11,240 --> 00:07:14,080 Speaker 3: him a little bit. I love the Yankees Red Sox 147 00:07:14,160 --> 00:07:17,720 Speaker 3: talk that we had with him. You know, your admiration 148 00:07:18,120 --> 00:07:23,360 Speaker 3: for Fenway Sports Group as an ownership conglomerate in a 149 00:07:23,360 --> 00:07:25,240 Speaker 3: lot of I mean, the sports conglomerate in so many 150 00:07:25,280 --> 00:07:29,560 Speaker 3: ways really comes through. So excited for everyone to hear that. 151 00:07:29,600 --> 00:07:44,800 Speaker 3: Coming up on the show, Sam Kennedy, welcome back to 152 00:07:44,840 --> 00:07:48,160 Speaker 3: the Deal. I'm Jason Kelly alongside Alex Rodriguez, and today 153 00:07:48,720 --> 00:07:51,160 Speaker 3: our very special guest, Sam Kennedy, the President and CEO 154 00:07:51,200 --> 00:07:52,320 Speaker 3: of the Boston Red Sox. 155 00:07:52,640 --> 00:07:55,040 Speaker 2: Yep, the President and CEO of the Boston. 156 00:07:54,720 --> 00:07:57,480 Speaker 3: Red Sox on a podcast co hosted with one of 157 00:07:57,520 --> 00:07:59,600 Speaker 3: the greatest Yankees of all time. So I'm going to 158 00:07:59,680 --> 00:08:03,320 Speaker 3: start right there, Sam, How in the world are you 159 00:08:03,320 --> 00:08:04,560 Speaker 3: guys such good friends? 160 00:08:04,680 --> 00:08:06,000 Speaker 2: Alex? Do you want to start? 161 00:08:06,440 --> 00:08:08,560 Speaker 4: Sure, I'll give it a try. Well, I did my part. 162 00:08:08,600 --> 00:08:11,239 Speaker 4: I wore pinstripes, Jason. I thought Sam would be wearing red, 163 00:08:11,560 --> 00:08:13,560 Speaker 4: but I mean, he's beat us enough over the years, 164 00:08:13,560 --> 00:08:15,600 Speaker 4: so he didn't want to rub it in. Sam is 165 00:08:15,680 --> 00:08:17,840 Speaker 4: just one of the most respected people in sports, and 166 00:08:17,920 --> 00:08:20,680 Speaker 4: every conversation is a top coe. Not only in sports, 167 00:08:20,720 --> 00:08:23,760 Speaker 4: but what they're building Fenway is truly phenomenal, and he's 168 00:08:23,800 --> 00:08:26,120 Speaker 4: become a north Star and a role model for a 169 00:08:26,120 --> 00:08:28,720 Speaker 4: lot of organizations, including ours with Mark Laurie and I 170 00:08:28,720 --> 00:08:30,440 Speaker 4: we we're trying to do with the Timbals and the Lynx. 171 00:08:31,000 --> 00:08:33,080 Speaker 4: But my rule was always like, I'm a little bit 172 00:08:33,120 --> 00:08:35,320 Speaker 4: of an old schooler and I never wanted to be 173 00:08:35,360 --> 00:08:38,000 Speaker 4: close with anybody in the Red Sox unless there were 174 00:08:38,040 --> 00:08:41,560 Speaker 4: grandfathered in like Big Poppy and Pedro and Manny. These 175 00:08:41,559 --> 00:08:44,240 Speaker 4: guys were Dominicans. I'm like, all right, that's different. But 176 00:08:44,440 --> 00:08:47,520 Speaker 4: I kept hearing about Sam Sam Sam, What a great guy, 177 00:08:47,559 --> 00:08:49,560 Speaker 4: What a great guy. And you don't want to like 178 00:08:49,559 --> 00:08:51,840 Speaker 4: any Red Sox, But I couldn't help it. Once I 179 00:08:51,880 --> 00:08:55,360 Speaker 4: met Sam, I quickly quickly liked him. And then when 180 00:08:55,400 --> 00:08:57,520 Speaker 4: I started doing something I baseball, he was so kind 181 00:08:57,559 --> 00:08:59,680 Speaker 4: it was invite me into his box, and I would 182 00:08:59,679 --> 00:09:02,240 Speaker 4: say hell to John Henry and Tom Warner, and you know, 183 00:09:02,280 --> 00:09:04,079 Speaker 4: the rest is history. Now we have a great common 184 00:09:04,080 --> 00:09:06,320 Speaker 4: friend and Ed Hurley, he who works at Walktel, who's 185 00:09:06,360 --> 00:09:09,439 Speaker 4: a great attorney and a great mentor of both of ours. 186 00:09:09,920 --> 00:09:12,480 Speaker 4: And yeah, that's our little Sam Abrot story. 187 00:09:13,040 --> 00:09:16,360 Speaker 1: Well, it is true. We've got a great relationship and 188 00:09:16,640 --> 00:09:18,840 Speaker 1: it goes back a long way for me. I actually 189 00:09:18,880 --> 00:09:21,760 Speaker 1: started my career as an intern for the New York 190 00:09:21,840 --> 00:09:25,120 Speaker 1: Yankees in the early nineties nineties. I had a lot 191 00:09:25,160 --> 00:09:27,960 Speaker 1: of friendships in the front office there. Brian Cashman and 192 00:09:28,000 --> 00:09:31,120 Speaker 1: I started just about the same time. And so obviously 193 00:09:31,160 --> 00:09:33,800 Speaker 1: on the field we've been battling for decades, but off 194 00:09:33,840 --> 00:09:36,640 Speaker 1: the field, there's a great respect and relationship and what 195 00:09:37,480 --> 00:09:41,640 Speaker 1: I've always enjoyed talking business with Alex and so impressed, 196 00:09:42,040 --> 00:09:43,760 Speaker 1: most impressed. I don't even know if he knows this, 197 00:09:43,920 --> 00:09:46,480 Speaker 1: but when he started to explain how the multi family 198 00:09:46,520 --> 00:09:49,240 Speaker 1: apartment business worked to me about fifteen twenty years ago. 199 00:09:49,280 --> 00:09:51,880 Speaker 1: The first time we met, I was like, Wow, this 200 00:09:51,920 --> 00:09:54,439 Speaker 1: guy is doing so much off the field. And then 201 00:09:54,800 --> 00:09:56,920 Speaker 1: after his playing days we got to know each other 202 00:09:57,000 --> 00:10:00,520 Speaker 1: through business. And I've always enjoyed the sports business and 203 00:10:00,679 --> 00:10:04,000 Speaker 1: in sports investing space, which is changing so rapidly and 204 00:10:04,040 --> 00:10:06,440 Speaker 1: it's just such an exciting time for our business, as 205 00:10:06,480 --> 00:10:06,960 Speaker 1: you guys know. 206 00:10:07,400 --> 00:10:08,760 Speaker 2: Yeah, so let's talk about that. 207 00:10:08,800 --> 00:10:11,199 Speaker 3: I mean, you know, take us back to O two 208 00:10:12,160 --> 00:10:14,080 Speaker 3: because that's when you joined the Red Sox. You come 209 00:10:14,080 --> 00:10:18,240 Speaker 3: from the Padres, obviously a storied franchise, but yet things 210 00:10:18,240 --> 00:10:20,120 Speaker 3: aren't going great at that point for the Red Sox. 211 00:10:20,200 --> 00:10:23,160 Speaker 3: There's a long drought that you guys are facing at 212 00:10:23,160 --> 00:10:28,320 Speaker 3: that point. What did you see as the business opportunity 213 00:10:28,720 --> 00:10:29,800 Speaker 3: in taking that job. 214 00:10:30,120 --> 00:10:33,760 Speaker 1: Well, the most important thing was winning baseball games. And 215 00:10:34,200 --> 00:10:36,040 Speaker 1: you know we came in in two thousand and two, 216 00:10:36,080 --> 00:10:40,480 Speaker 1: our first press conference. I'll never forget John Henry, Tom Werner, 217 00:10:40,880 --> 00:10:43,960 Speaker 1: Larry Luchino, the late great Larry Luchino, you know, he 218 00:10:44,160 --> 00:10:47,040 Speaker 1: liked to mix it up with everybody in the media 219 00:10:47,240 --> 00:10:50,160 Speaker 1: and at other clubs. But we we announced that we 220 00:10:50,160 --> 00:10:52,840 Speaker 1: were going to win the World Series, and in fact 221 00:10:52,840 --> 00:10:55,680 Speaker 1: we were going to win multiple World Series and starting 222 00:10:55,679 --> 00:10:58,559 Speaker 1: to change the mindset early days about what we could 223 00:10:58,600 --> 00:11:03,560 Speaker 1: accomplish on the field was really important. Honoring traditions in Boston, 224 00:11:04,400 --> 00:11:08,480 Speaker 1: trying to preserve, protect, restore Fenway Park was really important. 225 00:11:08,520 --> 00:11:11,359 Speaker 1: And the third thing was being very active in the community. 226 00:11:11,720 --> 00:11:14,240 Speaker 1: And those are just words. As you know, stewards of 227 00:11:14,320 --> 00:11:17,440 Speaker 1: franchises and clubs come in and they say a lot 228 00:11:17,480 --> 00:11:20,960 Speaker 1: of things, but hopefully we've honored those words with our actions. 229 00:11:21,360 --> 00:11:23,960 Speaker 1: But the first order of business, Jason, was to win 230 00:11:24,040 --> 00:11:26,800 Speaker 1: baseball games, to get a World Cheries championship. At that 231 00:11:26,840 --> 00:11:29,840 Speaker 1: time it had been eighty four years. We finally got 232 00:11:29,880 --> 00:11:32,400 Speaker 1: over the hump in two thousand and four and that 233 00:11:33,120 --> 00:11:36,560 Speaker 1: really did propel us. It gave John and Tom and 234 00:11:36,679 --> 00:11:40,360 Speaker 1: myself in terms of the business of sports, the confidence 235 00:11:40,800 --> 00:11:42,440 Speaker 1: to say, wow, if we can do this, get the 236 00:11:42,480 --> 00:11:45,079 Speaker 1: right people in the right place, with theo Epstein as 237 00:11:45,120 --> 00:11:49,240 Speaker 1: our GM and Tito franconas our manager, perhaps these skills 238 00:11:49,280 --> 00:11:53,280 Speaker 1: could be replicable in other environments. And so it was 239 00:11:53,400 --> 00:11:57,640 Speaker 1: John who came to me in two thousand and five 240 00:11:57,840 --> 00:12:00,280 Speaker 1: and said, listen, we've done a great job. What else 241 00:12:00,360 --> 00:12:02,520 Speaker 1: can we do? And that actually led us to NASCAR. 242 00:12:02,760 --> 00:12:05,840 Speaker 1: So that was our first investment into rausch Fenway Racing 243 00:12:06,360 --> 00:12:09,160 Speaker 1: in about two thousand and six time period, and then 244 00:12:09,200 --> 00:12:12,400 Speaker 1: we've just sort of built from there with that entrepreneurial spirit. 245 00:12:12,920 --> 00:12:14,839 Speaker 4: Yeah, I was just going to talk about your talent 246 00:12:15,000 --> 00:12:18,240 Speaker 4: because you know two thousand and two the firepower you 247 00:12:18,240 --> 00:12:19,920 Speaker 4: guys had. I mean, if you think about John, Henry, 248 00:12:19,960 --> 00:12:23,599 Speaker 4: Tom Warner, Larry Lukino, yourself, theo Epstein, and then you 249 00:12:23,640 --> 00:12:25,760 Speaker 4: go on the field and you have Shilling and Pedro 250 00:12:25,880 --> 00:12:27,040 Speaker 4: and Manny and Big Poppy. 251 00:12:27,640 --> 00:12:29,640 Speaker 2: What was a secret sauce that worked so well? 252 00:12:29,720 --> 00:12:32,400 Speaker 4: Because you go almost one hundred years without winning and 253 00:12:32,400 --> 00:12:34,400 Speaker 4: then you last twenty years you've won four titles. 254 00:12:34,600 --> 00:12:38,960 Speaker 1: It's a mindset. I think there's a very very healthy 255 00:12:39,280 --> 00:12:43,280 Speaker 1: mindset around being paranoid that were not good enough, and 256 00:12:43,320 --> 00:12:47,160 Speaker 1: being paranoid that we're not pushing hard enough to make 257 00:12:47,200 --> 00:12:50,239 Speaker 1: sure that the right people are in the right positions. 258 00:12:50,280 --> 00:12:53,720 Speaker 1: We've made every mistake in the book, that every sports 259 00:12:53,760 --> 00:12:56,960 Speaker 1: team front office and ownership group has made with the 260 00:12:57,000 --> 00:13:00,439 Speaker 1: Red Sox, with Rausch Fenway, with Liverpool. We're now in 261 00:13:00,480 --> 00:13:04,319 Speaker 1: the PGA Tour where the Pittsburgh Penguins. We've made lots 262 00:13:04,360 --> 00:13:07,480 Speaker 1: of mistakes because you know this just in the sports 263 00:13:07,679 --> 00:13:10,960 Speaker 1: business and sporting success on the field, on pitch, on 264 00:13:11,000 --> 00:13:14,560 Speaker 1: the ice is really really hard. It's such competitive landscape. 265 00:13:14,720 --> 00:13:17,640 Speaker 1: But we have a real healthy paranoia that you know 266 00:13:17,720 --> 00:13:19,880 Speaker 1: someone's going to take this away from us. We're not 267 00:13:20,440 --> 00:13:24,400 Speaker 1: uncovering every rock to find the best and brightest people, 268 00:13:24,800 --> 00:13:29,800 Speaker 1: the most talented general managers, team presidents, people in every 269 00:13:29,920 --> 00:13:33,679 Speaker 1: position across the organization. It's such a cliche, but at 270 00:13:33,679 --> 00:13:36,520 Speaker 1: Fenway Sports Group it starts and ends with the people. 271 00:13:36,960 --> 00:13:42,800 Speaker 1: There is a really fun collaborative environment where John Henry 272 00:13:42,840 --> 00:13:47,040 Speaker 1: and Tom Werner and Mike Gordon set the tone of 273 00:13:47,200 --> 00:13:49,920 Speaker 1: like there's really no bad ideas, Like you want to 274 00:13:49,920 --> 00:13:52,480 Speaker 1: throw out an idea to buy Liverpool Football Club when 275 00:13:52,480 --> 00:13:55,400 Speaker 1: it's headed to bankruptcy in twenty ten. That idea came 276 00:13:55,760 --> 00:13:58,640 Speaker 1: from someone in our corporate sponsorship group. They read about 277 00:13:58,679 --> 00:14:02,360 Speaker 1: it in the Sports Business journal. They loved Liverpool Football Club. 278 00:14:02,440 --> 00:14:05,679 Speaker 1: They send us a note saying save our club and 279 00:14:05,720 --> 00:14:09,120 Speaker 1: that's how the conversation started. So there's this culture that 280 00:14:09,400 --> 00:14:12,480 Speaker 1: no matter where you sit within the organization, you can 281 00:14:12,559 --> 00:14:16,880 Speaker 1: bring a transformational idea to Fenway Sports Group. So being 282 00:14:16,920 --> 00:14:19,520 Speaker 1: a part of that is really really special and something 283 00:14:19,560 --> 00:14:22,640 Speaker 1: that I cherish being a part of this, this Fenway family. 284 00:14:23,000 --> 00:14:25,120 Speaker 3: All Right, I want to get to Liverpool in a second, 285 00:14:25,200 --> 00:14:26,760 Speaker 3: but before we get to that, I just want to 286 00:14:26,760 --> 00:14:28,840 Speaker 3: do one more beat on the Red Sox because this 287 00:14:28,920 --> 00:14:31,680 Speaker 3: has been a very interesting season to say the least. 288 00:14:31,720 --> 00:14:34,360 Speaker 3: You know, you've been out and about talking quite a 289 00:14:34,440 --> 00:14:38,120 Speaker 3: bit about one very specific deal that you guys did 290 00:14:38,680 --> 00:14:42,120 Speaker 3: with the Giants. You know, talk to us about making 291 00:14:42,200 --> 00:14:46,920 Speaker 3: big decisions in the current environment and having the history 292 00:14:47,600 --> 00:14:51,200 Speaker 3: of you know, making bold decisions and then essentially having 293 00:14:51,200 --> 00:14:51,960 Speaker 3: to answer for them. 294 00:14:52,240 --> 00:14:56,440 Speaker 1: Well, I'll never forget when theo Epstein was named general manager. 295 00:14:56,520 --> 00:14:59,440 Speaker 1: Were the two of us grew up here in Boston together. Ironically, 296 00:14:59,560 --> 00:15:03,200 Speaker 1: we worked the padres together, we came back here when 297 00:15:03,280 --> 00:15:07,560 Speaker 1: his dad gave him advice back in two thousand and two. 298 00:15:07,600 --> 00:15:09,600 Speaker 1: When he took over as general manager, it was just 299 00:15:09,640 --> 00:15:13,880 Speaker 1: two words, be bold, and those two words have I 300 00:15:13,880 --> 00:15:18,000 Speaker 1: think stuck with us, Stuck with John, with Tom, with 301 00:15:18,120 --> 00:15:22,280 Speaker 1: everybody in the in the organization, and so bold decision 302 00:15:22,320 --> 00:15:26,760 Speaker 1: making doesn't mean you're reckless, but bold decision making means 303 00:15:26,840 --> 00:15:30,040 Speaker 1: sometimes you need to do things that are not going 304 00:15:30,120 --> 00:15:33,680 Speaker 1: to be perceived as popular. I can tell you a 305 00:15:33,800 --> 00:15:36,600 Speaker 1: lots of things that we've done from a business perspective 306 00:15:36,600 --> 00:15:38,440 Speaker 1: that have not been popular, lots of things from a 307 00:15:38,440 --> 00:15:44,240 Speaker 1: baseball perspective. The decision to trade Raphael Devers in the 308 00:15:44,280 --> 00:15:47,520 Speaker 1: month of June, on the day that we swept the 309 00:15:47,560 --> 00:15:50,160 Speaker 1: New York Yank he used to get back into this thing. 310 00:15:50,680 --> 00:15:53,479 Speaker 1: You know, it was timing that we could not control, 311 00:15:53,800 --> 00:15:57,280 Speaker 1: but a decision rooted in what we felt was best 312 00:15:57,320 --> 00:16:00,240 Speaker 1: for the organization in the near term and in the 313 00:16:00,280 --> 00:16:03,840 Speaker 1: long term because we couldn't find alignment. Just to be direct, 314 00:16:04,280 --> 00:16:07,160 Speaker 1: we've had an amazing relationship with Raffi. He grew up 315 00:16:07,200 --> 00:16:10,720 Speaker 1: in this organization. Probably a lot of mistakes that we 316 00:16:10,760 --> 00:16:14,800 Speaker 1: made along the way, but ultimately we made the decision 317 00:16:14,840 --> 00:16:17,680 Speaker 1: to move on, and that was really, really hard. I 318 00:16:17,720 --> 00:16:20,000 Speaker 1: could tell you my twenty two year old son was 319 00:16:20,120 --> 00:16:22,680 Speaker 1: not happy with me, My eighty four year old father 320 00:16:22,880 --> 00:16:26,280 Speaker 1: was not happy with me. With John, with Brez, with Todd, 321 00:16:26,360 --> 00:16:30,080 Speaker 1: with everybody in the decision making apparatus. But you've got 322 00:16:30,120 --> 00:16:33,440 Speaker 1: to be willing to make these hard decisions. They are 323 00:16:33,600 --> 00:16:37,520 Speaker 1: unpopular at times, and we recognize that, but it was 324 00:16:37,560 --> 00:16:40,040 Speaker 1: a decision that we felt was in our best interest. 325 00:16:40,560 --> 00:16:42,760 Speaker 1: I'm really proud of the group because we've had to 326 00:16:42,800 --> 00:16:45,160 Speaker 1: come together and you take that bat out of the 327 00:16:45,200 --> 00:16:47,360 Speaker 1: middle of the lineup. Nobody knows is better than Alex. 328 00:16:47,800 --> 00:16:50,840 Speaker 1: It's hard to see how that one individual move is 329 00:16:50,880 --> 00:16:53,520 Speaker 1: going to make you better in the moment. But this 330 00:16:53,720 --> 00:16:56,520 Speaker 1: was a deal that was bigger than that. Now we've 331 00:16:56,520 --> 00:16:59,520 Speaker 1: got a few players back in return. It does give 332 00:16:59,560 --> 00:17:02,200 Speaker 1: us some play ability here as we go into the deadline. 333 00:17:02,360 --> 00:17:04,680 Speaker 1: But that was a really hard one, a really hard one, 334 00:17:04,800 --> 00:17:08,040 Speaker 1: and it's an obligation of those of us in leadership 335 00:17:08,080 --> 00:17:10,600 Speaker 1: that you got to make really hard calls. And I 336 00:17:10,720 --> 00:17:12,879 Speaker 1: tell you they're painful. When you walk into Dunkin Donuts 337 00:17:12,920 --> 00:17:15,120 Speaker 1: in the morning and people know your name and they're 338 00:17:15,160 --> 00:17:17,920 Speaker 1: not happy with you. You hear about it. Alex knows 339 00:17:17,960 --> 00:17:20,639 Speaker 1: that one a lot better than I do. Sam. 340 00:17:21,240 --> 00:17:24,600 Speaker 4: I want to take theo Epstein's dad the two words 341 00:17:24,600 --> 00:17:27,280 Speaker 4: be bold and talk a little bit about Fenway, because 342 00:17:27,320 --> 00:17:29,640 Speaker 4: I think what you guys have done it Fenway going 343 00:17:29,680 --> 00:17:32,400 Speaker 4: back to two. It's been extraordinary, and I know Larry 344 00:17:32,440 --> 00:17:35,680 Speaker 4: Lukeino and a lot of your team members over there 345 00:17:35,840 --> 00:17:37,480 Speaker 4: had a lot to do with it. But from a 346 00:17:37,520 --> 00:17:41,840 Speaker 4: playing perspective, from watching you can make an argument that 347 00:17:41,920 --> 00:17:45,480 Speaker 4: this is the greatest American sports venue to watch a 348 00:17:45,480 --> 00:17:48,399 Speaker 4: ballgame in. Where it sits in the neighborhood, those are 349 00:17:48,440 --> 00:17:50,440 Speaker 4: the best seats in the house. How do you keep 350 00:17:50,480 --> 00:17:53,960 Speaker 4: the integrity of such a great monument but yet make 351 00:17:54,040 --> 00:17:56,320 Speaker 4: it more modern and even a more fun place to be. 352 00:17:56,600 --> 00:18:00,920 Speaker 1: Well, having grown up here, we knew what Way meant. 353 00:18:00,960 --> 00:18:04,800 Speaker 1: I mean, really, you have two institutions, right, you have 354 00:18:04,840 --> 00:18:07,439 Speaker 1: the institution of the Boston Red Sox and you have 355 00:18:07,480 --> 00:18:10,720 Speaker 1: the institution of Fenway Park. And when we came in 356 00:18:10,720 --> 00:18:13,040 Speaker 1: in two thousand and two, we needed to study the 357 00:18:13,119 --> 00:18:17,119 Speaker 1: structure to make sure that it could, with proper investment, 358 00:18:17,240 --> 00:18:21,800 Speaker 1: withstand another thirty forty fifty years. We got comfortable with 359 00:18:21,840 --> 00:18:24,800 Speaker 1: that in about late two thousand and four, and then 360 00:18:24,840 --> 00:18:27,840 Speaker 1: we started to invest year in and year out. To date, 361 00:18:27,880 --> 00:18:31,600 Speaker 1: we've put nearly four hundred million dollars all private money 362 00:18:31,760 --> 00:18:35,239 Speaker 1: into Fenway Park to preserve it, protect it, enhance it, 363 00:18:36,000 --> 00:18:39,159 Speaker 1: but you said it Alice. Where it sits in the city, 364 00:18:39,600 --> 00:18:44,320 Speaker 1: it's walkable, it's accessible via public transportation, it's even accessible 365 00:18:44,840 --> 00:18:48,720 Speaker 1: relatively easily by car. So when you have a jewel 366 00:18:48,880 --> 00:18:52,280 Speaker 1: in American sports, you don't tear it down. You try 367 00:18:52,280 --> 00:18:56,280 Speaker 1: and preserve it and protect it. It is a place 368 00:18:56,440 --> 00:18:58,960 Speaker 1: night in and night out, whether we're I mean baseball 369 00:18:59,000 --> 00:19:02,880 Speaker 1: games or consert or English football matches or big time 370 00:19:02,920 --> 00:19:06,040 Speaker 1: Bowl games, where people want to come and they want 371 00:19:06,080 --> 00:19:09,560 Speaker 1: to gather. We've now over the last decade, started to 372 00:19:09,600 --> 00:19:13,600 Speaker 1: expand its footprint. We built a fifty five hundred person 373 00:19:13,760 --> 00:19:17,080 Speaker 1: music venue off of the back. We are now permitted 374 00:19:17,160 --> 00:19:21,600 Speaker 1: for two point two million feet of retail residential hotel 375 00:19:22,040 --> 00:19:24,439 Speaker 1: right here in the neighborhood. We move forward with the 376 00:19:24,480 --> 00:19:27,800 Speaker 1: music venue, but we've been slowed down by post COVID 377 00:19:27,920 --> 00:19:32,480 Speaker 1: construction prices and interest rates. Hopefully the tide will turn there, 378 00:19:32,480 --> 00:19:34,879 Speaker 1: but we really are starting to map out what the 379 00:19:34,920 --> 00:19:38,520 Speaker 1: future neighborhood looks like. And we're blessed to have Fenway 380 00:19:38,520 --> 00:19:41,680 Speaker 1: Park as our home. It's really really special, and as 381 00:19:41,680 --> 00:19:45,439 Speaker 1: we think about our investments in sports, that's sort of 382 00:19:45,720 --> 00:19:48,240 Speaker 1: really critical part and parcel to everything you do is 383 00:19:48,280 --> 00:19:52,240 Speaker 1: looking at where the team plays or where they may 384 00:19:52,280 --> 00:19:54,680 Speaker 1: play as you think about moving forward with a sports 385 00:19:54,680 --> 00:19:57,120 Speaker 1: franchise acquisition, really really important. 386 00:19:57,600 --> 00:20:00,800 Speaker 3: Let's talk about Fenway as a sports g and the 387 00:20:00,880 --> 00:20:04,280 Speaker 3: decision to expand it, and you know you mentioned John 388 00:20:04,320 --> 00:20:06,040 Speaker 3: Henry saying all right, what do we do next? 389 00:20:06,119 --> 00:20:07,000 Speaker 2: How do we do more? 390 00:20:07,560 --> 00:20:10,600 Speaker 3: Let's talk about Liverpool because that is not an obvious 391 00:20:10,640 --> 00:20:13,240 Speaker 3: deal to do. You know, we live at a time 392 00:20:13,320 --> 00:20:16,760 Speaker 3: now where you know, Brian Reynolds and Rob McIlhenny are 393 00:20:16,760 --> 00:20:20,040 Speaker 3: buying Wrexham and it's this huge success. But there were 394 00:20:20,080 --> 00:20:23,000 Speaker 3: a lot of people who looked at English football and 395 00:20:23,040 --> 00:20:25,600 Speaker 3: European football back in the day, back when you were 396 00:20:25,680 --> 00:20:29,240 Speaker 3: looking at it and said hard pass like there's no 397 00:20:29,359 --> 00:20:32,040 Speaker 3: way where we're going to do this. You were intimately 398 00:20:32,040 --> 00:20:35,200 Speaker 3: involved in that. What do you recall from sort of 399 00:20:35,280 --> 00:20:38,639 Speaker 3: those key decisions to get that deal done well. 400 00:20:38,800 --> 00:20:44,040 Speaker 1: Our purpose at Famway Sports Group is to elevate brands 401 00:20:44,080 --> 00:20:49,199 Speaker 1: and clubs and institutions that really matter. Liverpool Football Club 402 00:20:49,480 --> 00:20:54,119 Speaker 1: matters to its global supporter base as much as any club, 403 00:20:54,200 --> 00:20:58,240 Speaker 1: and so we thought our experience in Boston with really 404 00:20:58,280 --> 00:21:01,520 Speaker 1: a public trust, you know, not a sports franchise or 405 00:21:01,560 --> 00:21:04,240 Speaker 1: even a club. It's a public trust. And what do 406 00:21:04,280 --> 00:21:07,000 Speaker 1: I mean by that? We have an obligation to doing 407 00:21:07,080 --> 00:21:10,560 Speaker 1: everything in our power to win games at Fenway Park 408 00:21:10,600 --> 00:21:14,120 Speaker 1: and to win matches at Anfield. After we got that 409 00:21:14,200 --> 00:21:19,280 Speaker 1: famous save my Club email, we started to study Liverpool, 410 00:21:19,400 --> 00:21:22,800 Speaker 1: we started to study the English Premier League, and things 411 00:21:22,960 --> 00:21:26,240 Speaker 1: just started to click and really made sense. And I'll 412 00:21:26,320 --> 00:21:30,119 Speaker 1: never forget one of the first meetings we had with 413 00:21:30,200 --> 00:21:35,199 Speaker 1: the investment bankers for the deal, and they were describing 414 00:21:35,440 --> 00:21:38,320 Speaker 1: what needed to be done at Anfield, because Anfield needed 415 00:21:38,359 --> 00:21:41,080 Speaker 1: a lot of investment and improvement, and they actually raised 416 00:21:41,240 --> 00:21:44,679 Speaker 1: the idea of a new stadium, and I pulled the 417 00:21:44,720 --> 00:21:47,199 Speaker 1: guy aside and I said, listen, don't ever bring that 418 00:21:47,359 --> 00:21:51,520 Speaker 1: up ever again. We've just spent a decade preserving and 419 00:21:51,600 --> 00:21:56,520 Speaker 1: protecting the Mona Lisa of baseball parks in Fenway. If 420 00:21:56,560 --> 00:21:59,959 Speaker 1: we're going to go into Liverpool, the hallowed grounds of Anfield, 421 00:22:00,240 --> 00:22:03,280 Speaker 1: we're gonna want to preserve and protect it. So we 422 00:22:03,400 --> 00:22:06,240 Speaker 1: made that very clear. And then it was literally like 423 00:22:06,280 --> 00:22:09,080 Speaker 1: a light bulb went off with John Henry as he 424 00:22:09,160 --> 00:22:11,239 Speaker 1: started to get into it, and I remember him saying, well, 425 00:22:11,240 --> 00:22:13,399 Speaker 1: if we're going to do this like We're going to 426 00:22:13,480 --> 00:22:17,360 Speaker 1: have to be prepared to beat Manchester United like those 427 00:22:17,400 --> 00:22:20,000 Speaker 1: are the Yankees, like those are the Yankee We have 428 00:22:20,040 --> 00:22:22,480 Speaker 1: to get over the hump and beat the best of 429 00:22:22,520 --> 00:22:27,760 Speaker 1: the best. And so for John, it's always been about winning. 430 00:22:27,880 --> 00:22:31,000 Speaker 1: Little known fact, you know, Alex knows this. He's he 431 00:22:31,160 --> 00:22:34,320 Speaker 1: started his career. He was an LP with the Yankees. 432 00:22:34,560 --> 00:22:38,120 Speaker 1: He was an LP with George Steinbrenner in the New 433 00:22:38,160 --> 00:22:41,879 Speaker 1: York Yankees in the early nineteen nineties. And so while 434 00:22:41,880 --> 00:22:45,640 Speaker 1: they have very different personalities from what I remember about 435 00:22:45,720 --> 00:22:51,200 Speaker 1: mister Steinbrenner, the fierce competitor and the desire to win 436 00:22:51,800 --> 00:22:56,800 Speaker 1: is always there. And thankfully with unbelievable leadership from Mike Gordon, 437 00:22:56,840 --> 00:22:59,360 Speaker 1: who's the owner, who's here, who spends the most time 438 00:22:59,400 --> 00:23:02,840 Speaker 1: on it, Billygan, our CEO, Michael Edwards and the group 439 00:23:02,880 --> 00:23:05,400 Speaker 1: over there. On the football side, we've been really, really 440 00:23:05,400 --> 00:23:07,320 Speaker 1: good on the pitch. We won the league title this 441 00:23:07,440 --> 00:23:10,000 Speaker 1: year and it's just been a privilege to be associated 442 00:23:10,040 --> 00:23:12,720 Speaker 1: with Liverpool. But that's what we saw. We saw this 443 00:23:12,840 --> 00:23:17,639 Speaker 1: club that needed investment and it needed really professional management 444 00:23:17,920 --> 00:23:20,840 Speaker 1: to come in and help it achieve what it had 445 00:23:20,880 --> 00:23:24,160 Speaker 1: achieved decades prior. In sort of restoring the club back 446 00:23:24,200 --> 00:23:28,040 Speaker 1: to greatness. 447 00:23:36,920 --> 00:23:39,919 Speaker 4: Sam, I really admire John Henry and Tom Warner, and 448 00:23:39,960 --> 00:23:43,320 Speaker 4: I think they're both brilliant, but they're both very different. You, 449 00:23:43,440 --> 00:23:47,680 Speaker 4: as the CEO, kind of describe the cadence. How often 450 00:23:47,760 --> 00:23:49,840 Speaker 4: do you talk to them, How are they different, what 451 00:23:49,880 --> 00:23:52,399 Speaker 4: are their collective superpowers? And how do they kind of 452 00:23:52,440 --> 00:23:54,600 Speaker 4: check each other? Because it is a bit of a 453 00:23:54,640 --> 00:23:56,240 Speaker 4: gold standard the way the three of you kind of 454 00:23:56,240 --> 00:23:56,760 Speaker 4: work together. 455 00:23:57,200 --> 00:24:00,720 Speaker 1: Well, I have a fancy title as CEO of Fenway 456 00:24:00,760 --> 00:24:03,639 Speaker 1: Sports Group and CEO of the Boston Red Sox, but 457 00:24:03,880 --> 00:24:07,600 Speaker 1: really the CEO of the enterprise, you know, is this 458 00:24:07,880 --> 00:24:12,600 Speaker 1: collective superpower? As you say, John Henry, Tom Werner, I 459 00:24:12,640 --> 00:24:15,199 Speaker 1: would add Mike Gordon to that list. The three of 460 00:24:15,240 --> 00:24:19,880 Speaker 1: them manage the partnership. And you know, twenty twenty one, 461 00:24:20,040 --> 00:24:23,480 Speaker 1: Jerry Card now from Redbird came in and has been 462 00:24:23,520 --> 00:24:28,400 Speaker 1: an awesome partner as an institutional investor, bringing a different lens. 463 00:24:29,160 --> 00:24:31,960 Speaker 1: All four of those guys who I work for are 464 00:24:32,359 --> 00:24:35,000 Speaker 1: very different personalities. But I would say, if I had 465 00:24:35,000 --> 00:24:37,399 Speaker 1: to boil it down, you know, going back to John 466 00:24:37,640 --> 00:24:40,480 Speaker 1: and Tom, like who started this thing back in O two, 467 00:24:41,200 --> 00:24:46,359 Speaker 1: they have this incredible humility about them. It's always about 468 00:24:46,720 --> 00:24:51,399 Speaker 1: the team, the club, the employees, the players. They really 469 00:24:51,440 --> 00:24:55,320 Speaker 1: just have their priorities in order, and in terms of 470 00:24:55,560 --> 00:25:00,120 Speaker 1: their personal lives, their families, they just really really are 471 00:25:00,840 --> 00:25:06,760 Speaker 1: model citizens in their lives and so hopefully, as CEO 472 00:25:06,840 --> 00:25:11,160 Speaker 1: of the organization, we build teams of people that share 473 00:25:11,200 --> 00:25:13,720 Speaker 1: those common values. At the end of the day. John 474 00:25:13,720 --> 00:25:17,280 Speaker 1: Henry is our principal owner, largest shareholder. He is one 475 00:25:17,280 --> 00:25:22,760 Speaker 1: of the most fascinating people you'll ever meet. He's very introverted, quiet, 476 00:25:22,840 --> 00:25:25,000 Speaker 1: but when you sit down and you talk to him, 477 00:25:25,400 --> 00:25:29,480 Speaker 1: he's a business and sporting savant. He's been in so 478 00:25:29,560 --> 00:25:32,520 Speaker 1: many different businesses and had success at the highest level 479 00:25:32,520 --> 00:25:35,520 Speaker 1: wherever he's been. And you know, I kind of laugh 480 00:25:35,600 --> 00:25:38,040 Speaker 1: when he takes a lot of grief in the media 481 00:25:38,240 --> 00:25:42,840 Speaker 1: either Liverpool or in Boston or Pittsburgh when the teams 482 00:25:42,840 --> 00:25:45,600 Speaker 1: aren't performing well, because when you work with him every day. 483 00:25:45,640 --> 00:25:48,840 Speaker 1: To your question about cadence, we talk every single day, 484 00:25:48,960 --> 00:25:52,479 Speaker 1: three hundred and sixty five days, yeah, twenty four to seven, 485 00:25:53,160 --> 00:25:56,920 Speaker 1: And most of that, honestly is rooted in the passion 486 00:25:57,240 --> 00:26:01,360 Speaker 1: for what we're doing. And I'll tell you we focus 487 00:26:01,400 --> 00:26:04,160 Speaker 1: a lot on what's going wrong. You know, we don't 488 00:26:04,200 --> 00:26:07,120 Speaker 1: focus on celebrating this success. Maybe we've heard a little 489 00:26:07,119 --> 00:26:10,679 Speaker 1: bit more. So we're constantly pushing towards where can we 490 00:26:10,760 --> 00:26:12,800 Speaker 1: be better and what's next. 491 00:26:13,040 --> 00:26:15,040 Speaker 4: So, Sam, I like to echo a little bit of 492 00:26:15,040 --> 00:26:17,440 Speaker 4: what you said and just share a quick story about 493 00:26:17,440 --> 00:26:21,080 Speaker 4: my experience with John Henry and why ended up liking 494 00:26:21,119 --> 00:26:23,400 Speaker 4: him and respecting him so much, to the point that 495 00:26:23,800 --> 00:26:25,600 Speaker 4: ninety nine percent of the people out there would never 496 00:26:25,680 --> 00:26:27,639 Speaker 4: know this part of John Henry that I got to know. 497 00:26:27,680 --> 00:26:30,200 Speaker 4: And of course, you know, but when Commissioner Busey that 498 00:26:30,200 --> 00:26:32,959 Speaker 4: gave us permission to talk to you guys, it was 499 00:26:33,200 --> 00:26:36,439 Speaker 4: John Henry who took the lead in recruiting me. I 500 00:26:36,480 --> 00:26:38,760 Speaker 4: went to boke Up and I spent three hours with him, 501 00:26:38,840 --> 00:26:41,320 Speaker 4: And the next week he drove down to South Florida 502 00:26:41,760 --> 00:26:44,280 Speaker 4: and spent three hours with Cynthiy and I and Cynthia 503 00:26:44,320 --> 00:26:45,600 Speaker 4: was over the moon. She said, I want to be 504 00:26:45,600 --> 00:26:47,960 Speaker 4: a Red Sox because of John Henry. But what stood 505 00:26:48,000 --> 00:26:51,679 Speaker 4: out was this humility. His passion for baseball was second 506 00:26:51,680 --> 00:26:54,200 Speaker 4: to none. That was quite surprising. How much he knew 507 00:26:54,200 --> 00:26:57,119 Speaker 4: about the history of the game. And really I knew 508 00:26:57,119 --> 00:26:58,960 Speaker 4: that the Red Sox had big things coming because the 509 00:26:58,960 --> 00:27:02,280 Speaker 4: way he articulated his vision and his passion to winning 510 00:27:02,400 --> 00:27:05,480 Speaker 4: and to bringing championships to the fans of the Red 511 00:27:05,560 --> 00:27:09,399 Speaker 4: Sox was infectious and from that day on, I've always 512 00:27:09,400 --> 00:27:12,200 Speaker 4: been a huge John Henry fan Well. 513 00:27:12,560 --> 00:27:17,359 Speaker 1: It's an amazing recollection and just spot on. He's always 514 00:27:17,720 --> 00:27:23,040 Speaker 1: putting what's best for the organization first, which does lead you, 515 00:27:23,040 --> 00:27:25,080 Speaker 1: you know, Jason, back to your question, like at the 516 00:27:25,160 --> 00:27:26,760 Speaker 1: end of the day, he signs off on all the 517 00:27:26,760 --> 00:27:30,560 Speaker 1: big decisions, like as principal owner, the buck stops with him. 518 00:27:31,119 --> 00:27:34,600 Speaker 1: Our job in management is to make certain decisions that 519 00:27:34,640 --> 00:27:36,600 Speaker 1: we have the authority to make, but the really big 520 00:27:36,600 --> 00:27:41,600 Speaker 1: ones acquiring a football club or trading Ralphiel Devers obviously 521 00:27:41,640 --> 00:27:46,000 Speaker 1: we need ownership approval, and so he is involved in 522 00:27:46,080 --> 00:27:49,760 Speaker 1: every aspect of the business. It's really funny, dry with 523 00:27:50,119 --> 00:27:53,000 Speaker 1: you know, sarcastic. We do like to laugh at ourselves 524 00:27:53,080 --> 00:27:55,480 Speaker 1: and a word I can't say on the air, but 525 00:27:55,640 --> 00:27:57,200 Speaker 1: we always say we're going to write a book called 526 00:27:57,240 --> 00:28:01,359 Speaker 1: you can't make this stuff. As you know, the stuff 527 00:28:01,359 --> 00:28:05,960 Speaker 1: that happens every single day in sports is just it's crazy. 528 00:28:06,080 --> 00:28:07,840 Speaker 1: Just an anecdote the other day, right before we had 529 00:28:07,840 --> 00:28:11,080 Speaker 1: an off day in Washington. I was with my family 530 00:28:11,200 --> 00:28:13,160 Speaker 1: right before the fourth of July holiday. All right, it's 531 00:28:13,160 --> 00:28:15,640 Speaker 1: gonna be a chill day. I get a text from 532 00:28:15,640 --> 00:28:18,000 Speaker 1: our head of pr at the Red Sox did you 533 00:28:18,080 --> 00:28:20,960 Speaker 1: know this? And it's social media of our players strolling 534 00:28:21,000 --> 00:28:23,800 Speaker 1: through the Oval Office in the White House with President 535 00:28:23,880 --> 00:28:28,320 Speaker 1: John Like, first of all, it's awesome that they got 536 00:28:28,359 --> 00:28:30,880 Speaker 1: that experience. They're there, but there was a family day 537 00:28:30,920 --> 00:28:32,760 Speaker 1: with the club. They had the choice of going to 538 00:28:32,760 --> 00:28:34,919 Speaker 1: the White House with their families or going to the 539 00:28:35,440 --> 00:28:37,679 Speaker 1: zoo or a couple of guys play golf, whatever, but 540 00:28:37,720 --> 00:28:39,680 Speaker 1: they ended up. So you know, in sports, it's like 541 00:28:40,080 --> 00:28:42,000 Speaker 1: just when you think you're gonna have a quiet couple 542 00:28:42,080 --> 00:28:44,600 Speaker 1: of hours, the media is going crazy. You know, the 543 00:28:44,640 --> 00:28:46,560 Speaker 1: Red Sox are in the White House. What's going on? 544 00:28:46,680 --> 00:28:49,360 Speaker 1: So it's just day in and day out, you don't 545 00:28:49,400 --> 00:28:51,240 Speaker 1: know what's gonna happen, which is part of the beauty 546 00:28:51,280 --> 00:28:51,480 Speaker 1: of it. 547 00:28:51,880 --> 00:28:54,240 Speaker 3: Well, and to that point, Sam, I mean, that's only 548 00:28:54,280 --> 00:28:58,720 Speaker 3: magnified when you have different clubs across different sports, across 549 00:28:58,800 --> 00:29:02,680 Speaker 3: different geographies. And it's interesting to think about, you know, 550 00:29:02,760 --> 00:29:05,880 Speaker 3: this conversation the context of other members of what we 551 00:29:05,920 --> 00:29:09,000 Speaker 3: will affectionately call the deal cinematic universe. You know, we've 552 00:29:09,000 --> 00:29:11,960 Speaker 3: had Josh Harris on the show and David Blitzer, both 553 00:29:11,960 --> 00:29:14,160 Speaker 3: of whom you know well. We've had Ted Leonsis obviously 554 00:29:14,160 --> 00:29:17,160 Speaker 3: who you know well as well. There are different models 555 00:29:17,160 --> 00:29:20,800 Speaker 3: for this multi club ownership, and I do wonder from 556 00:29:20,840 --> 00:29:25,360 Speaker 3: your perspective the opportunities are clear in terms of rising 557 00:29:25,440 --> 00:29:28,720 Speaker 3: valuations and a lot that you can learn. But how 558 00:29:28,720 --> 00:29:31,959 Speaker 3: do you cope with sort of the challenges of a 559 00:29:32,000 --> 00:29:35,840 Speaker 3: different market of being able to sort of give the 560 00:29:36,560 --> 00:29:40,440 Speaker 3: time and attention to the clubs when they need it most, 561 00:29:41,040 --> 00:29:43,960 Speaker 3: knowing that you can never get it totally right, because 562 00:29:43,960 --> 00:29:46,040 Speaker 3: if you're seen as paying too much attention to the 563 00:29:46,080 --> 00:29:49,760 Speaker 3: Red Sox and not Liverpool or the Penguins or Nessen, 564 00:29:50,440 --> 00:29:51,840 Speaker 3: you know somebody's going to be mad. 565 00:29:52,120 --> 00:29:53,360 Speaker 2: So how do you balance all that? 566 00:29:53,840 --> 00:29:56,520 Speaker 1: Well, Number one, you do it with the best people 567 00:29:56,800 --> 00:29:59,600 Speaker 1: in the sports industry. And that's the best part of 568 00:29:59,640 --> 00:30:03,560 Speaker 1: our our industry is we are able to attract the 569 00:30:03,680 --> 00:30:06,840 Speaker 1: brightest minds, the best people who want to be in 570 00:30:06,920 --> 00:30:10,440 Speaker 1: this industry. But I'll tell you, and Alex will agree 571 00:30:10,480 --> 00:30:14,800 Speaker 1: with this, nothing nothing replaces winning. I mean winning on 572 00:30:14,840 --> 00:30:16,800 Speaker 1: the pitch. Winning on the ice, winning on the field. 573 00:30:17,240 --> 00:30:22,760 Speaker 1: We never get complaints in Boston about Liverpool Football Club 574 00:30:22,880 --> 00:30:25,960 Speaker 1: or the Pittsburgh Penguins or the PGA Tour if we're 575 00:30:26,000 --> 00:30:28,240 Speaker 1: winning ninety five games and we're you know, winning the 576 00:30:28,280 --> 00:30:30,959 Speaker 1: American League East and playing in the postseason and you know, 577 00:30:31,000 --> 00:30:34,520 Speaker 1: and so that really has to be our focus, is 578 00:30:34,560 --> 00:30:39,120 Speaker 1: investing the resources into the right player personnel and winning 579 00:30:39,480 --> 00:30:44,400 Speaker 1: games and everything everything fuels or runs off of that. 580 00:30:44,920 --> 00:30:46,880 Speaker 1: But it is it is hard. It's a lot of 581 00:30:46,960 --> 00:30:50,040 Speaker 1: time on an airplane, and we do sort of divide 582 00:30:50,120 --> 00:30:53,880 Speaker 1: up our time and attention and energy. I mean from 583 00:30:53,920 --> 00:30:57,480 Speaker 1: the management group, within the ownership, those three guys, John, 584 00:30:57,480 --> 00:30:59,200 Speaker 1: Tom and Mike. No one has spent more time on 585 00:30:59,280 --> 00:31:02,440 Speaker 1: Liverpool Football Club than Mike Gordon. I mean, this guy 586 00:31:02,560 --> 00:31:06,920 Speaker 1: has just lived the last fifteen years of being the 587 00:31:06,960 --> 00:31:11,000 Speaker 1: Fenway Sports Group owner sort of in charge of the 588 00:31:11,080 --> 00:31:14,040 Speaker 1: day to day over there, bringing in Urigan Club, putting 589 00:31:14,040 --> 00:31:17,880 Speaker 1: in Billy Hogan as our CEO. And Tom spends a 590 00:31:18,000 --> 00:31:21,400 Speaker 1: ton of his time on English Premier League matters, but 591 00:31:21,480 --> 00:31:25,360 Speaker 1: also on Nessen because of his media background. And John 592 00:31:25,400 --> 00:31:27,520 Speaker 1: and I have probably taken the lead, I would say 593 00:31:27,520 --> 00:31:30,600 Speaker 1: on our golf investment the last year and a half, 594 00:31:30,680 --> 00:31:34,760 Speaker 1: so we find time. We have incredibly supportive families are 595 00:31:35,240 --> 00:31:37,400 Speaker 1: that are all in and look, I'll tell you John 596 00:31:37,440 --> 00:31:41,760 Speaker 1: and Linda Henry is an investor and very involved in 597 00:31:42,480 --> 00:31:46,000 Speaker 1: all aspects of Fenway Sports Group. John and Linda have 598 00:31:46,040 --> 00:31:49,280 Speaker 1: this amazing relationship. It is like a family. I mean, 599 00:31:49,400 --> 00:31:51,600 Speaker 1: last night was my birthday a Fenway. I have my 600 00:31:51,720 --> 00:31:54,960 Speaker 1: parents and my kids and friends and you never think twice. 601 00:31:55,000 --> 00:31:57,800 Speaker 1: It's like it is a family environment. I hope we 602 00:31:57,880 --> 00:31:59,480 Speaker 1: never lose that. Sam. 603 00:31:59,640 --> 00:32:02,320 Speaker 4: I know how much you value relationships and what a 604 00:32:02,360 --> 00:32:05,880 Speaker 4: great reputation you've built over the last many decades. You 605 00:32:05,920 --> 00:32:10,800 Speaker 4: also value mentorship. Can you mention maybe a few mentors 606 00:32:11,200 --> 00:32:13,960 Speaker 4: in what lessons have you learned to help shape your 607 00:32:14,040 --> 00:32:14,840 Speaker 4: career so far? 608 00:32:15,320 --> 00:32:18,600 Speaker 1: Well, I've been really, really fortunate, Alex. I appreciate you 609 00:32:18,680 --> 00:32:22,400 Speaker 1: raising that obviously. You know, beyond family members really close, 610 00:32:22,560 --> 00:32:25,600 Speaker 1: very very blessed, incredible mom and dad, and the people 611 00:32:25,640 --> 00:32:28,320 Speaker 1: that I've worked for here at Fenway Sports Group. We've 612 00:32:28,320 --> 00:32:32,200 Speaker 1: already mentioned them, but one in particular who stands out 613 00:32:32,320 --> 00:32:35,320 Speaker 1: is a woman named Anne Fanukin who ran Bank of 614 00:32:35,360 --> 00:32:38,080 Speaker 1: America for a long time and came in in two 615 00:32:38,120 --> 00:32:40,760 Speaker 1: thousand and two and I met her, so she's been 616 00:32:40,800 --> 00:32:43,280 Speaker 1: twenty four years a mentor and I said, in give 617 00:32:43,320 --> 00:32:46,160 Speaker 1: me some advice, you know, for coming into Boston, but 618 00:32:46,280 --> 00:32:49,280 Speaker 1: leadership in general, and she gave me the absolute best advice. 619 00:32:49,360 --> 00:32:52,600 Speaker 1: It was Listen, there are two types of people in 620 00:32:52,640 --> 00:32:55,719 Speaker 1: the world. There are people they give you positive energy 621 00:32:56,040 --> 00:32:58,560 Speaker 1: and there are people that suck the life out of you. 622 00:32:59,320 --> 00:33:03,840 Speaker 1: Stick with the energy givers and the energy providers. And 623 00:33:04,440 --> 00:33:09,120 Speaker 1: that's probably the best leadership and management advice that I've 624 00:33:09,120 --> 00:33:12,200 Speaker 1: ever gotten, because people that suck the energy out of 625 00:33:12,240 --> 00:33:14,320 Speaker 1: you just they have to go and they can't be 626 00:33:14,360 --> 00:33:16,720 Speaker 1: a part of an organization. You really need to be 627 00:33:16,840 --> 00:33:21,080 Speaker 1: a positive force. So Ann has been incredible. A guy 628 00:33:21,120 --> 00:33:23,920 Speaker 1: named Mark Flaherty who is the vice chairman of Wellington 629 00:33:24,160 --> 00:33:28,040 Speaker 1: here in Boston, good friends of another mentor at Hurleyhee 630 00:33:28,160 --> 00:33:31,960 Speaker 1: has been terrific. I think of Todd and Tim LEIWICKI, 631 00:33:32,200 --> 00:33:36,440 Speaker 1: who just have done amazing things in sports. Commissioner Manfred 632 00:33:36,520 --> 00:33:39,960 Speaker 1: has been incredible to me. Theoepsy and you know we're 633 00:33:40,000 --> 00:33:43,240 Speaker 1: the same age, but he I consider him a mentor. 634 00:33:43,360 --> 00:33:47,120 Speaker 1: So had this just incredible group that I've been fortunate 635 00:33:47,240 --> 00:33:50,160 Speaker 1: enough to be around, probably like you, Alex, different version 636 00:33:50,560 --> 00:33:53,360 Speaker 1: of a clubhouse, but just being around these people have 637 00:33:53,400 --> 00:33:57,040 Speaker 1: done amazing things in business and so lucky to be 638 00:33:57,120 --> 00:33:59,959 Speaker 1: exposed to different people in the sports industry. It's just 639 00:34:00,120 --> 00:34:00,640 Speaker 1: been great. 640 00:34:00,880 --> 00:34:02,400 Speaker 3: All Right, We're going to move on in a second 641 00:34:02,440 --> 00:34:04,640 Speaker 3: to our lightning round, but before we do, I did 642 00:34:04,640 --> 00:34:07,360 Speaker 3: want to ask you. You mentioned it in passing a 643 00:34:07,440 --> 00:34:11,319 Speaker 3: little bit about golf. It is a fascinating time for 644 00:34:11,480 --> 00:34:12,320 Speaker 3: the game of golf. 645 00:34:12,360 --> 00:34:12,480 Speaker 1: You know. 646 00:34:12,520 --> 00:34:14,360 Speaker 3: I had a chance a year or so ago to 647 00:34:14,760 --> 00:34:17,760 Speaker 3: sit on a Bloomberg stage and interview Mark ott Anascio 648 00:34:17,840 --> 00:34:21,960 Speaker 3: and Tom Werner about SSG, this Strategic Sports group that 649 00:34:22,120 --> 00:34:24,839 Speaker 3: you're obviously a part of. Talk to us a little 650 00:34:24,840 --> 00:34:27,800 Speaker 3: bit about how that came together and what you see 651 00:34:27,840 --> 00:34:30,320 Speaker 3: happening next at this critical moment for golf. 652 00:34:31,239 --> 00:34:35,440 Speaker 1: Well, it's been a rather remarkable deal and investment and 653 00:34:36,000 --> 00:34:40,520 Speaker 1: partnership with hundreds of players. It's a very unique structure, 654 00:34:41,000 --> 00:34:43,920 Speaker 1: one that we're really proud of. And it started in 655 00:34:43,960 --> 00:34:48,239 Speaker 1: the summer of twenty twenty three. We had an amazing 656 00:34:48,480 --> 00:34:52,440 Speaker 1: relationship with Ed Hurlehy, who was the chair of the 657 00:34:52,440 --> 00:34:59,440 Speaker 1: board of the PGA Tour. I mentioned Mark Flaherty, Mary Meeker, Randall, Stevenson, 658 00:34:59,480 --> 00:35:01,960 Speaker 1: there was a group of people on the PGA Tour 659 00:35:02,080 --> 00:35:06,000 Speaker 1: Policy Board, and of course j Monahan, who was a 660 00:35:06,160 --> 00:35:09,800 Speaker 1: personal friend from Boston, he actually worked here at Fenway, 661 00:35:09,960 --> 00:35:14,120 Speaker 1: became PGA Tour Commissioner, and we watched what had happened 662 00:35:14,160 --> 00:35:17,680 Speaker 1: around the framework agreement and it just didn't add up 663 00:35:17,719 --> 00:35:20,239 Speaker 1: to us. It didn't make any sense. And what we 664 00:35:20,360 --> 00:35:24,440 Speaker 1: realized was that this was being reported as a merger 665 00:35:24,600 --> 00:35:27,320 Speaker 1: or a takeover of the PGA Tour by the Public 666 00:35:27,360 --> 00:35:30,400 Speaker 1: Investment Fund, but in fact that's not what it was. 667 00:35:30,520 --> 00:35:33,759 Speaker 1: It was a very smart deal that the tour had 668 00:35:33,840 --> 00:35:37,120 Speaker 1: done and the Public Investment Fund had done to drop 669 00:35:37,400 --> 00:35:41,200 Speaker 1: the lawsuits against each other and endeavor to work towards 670 00:35:41,360 --> 00:35:44,800 Speaker 1: a partnership. And so we thought at the time, maybe 671 00:35:44,840 --> 00:35:47,000 Speaker 1: we were crazy, but we thought that if we got 672 00:35:47,080 --> 00:35:52,759 Speaker 1: involved with a consortium of US based sports investors led 673 00:35:52,840 --> 00:35:56,400 Speaker 1: by John Henry and the Fenway Sports Group, we could 674 00:35:56,800 --> 00:36:01,120 Speaker 1: make progress and help out the PGA Tour. And what 675 00:36:01,160 --> 00:36:02,920 Speaker 1: do I mean by that, Well, if we've come in 676 00:36:03,000 --> 00:36:06,880 Speaker 1: shoulder to shoulder, provide capital, stand up a business, create 677 00:36:07,360 --> 00:36:12,240 Speaker 1: equity for the players, which we did, and offer advice 678 00:36:12,320 --> 00:36:18,120 Speaker 1: suggestions counsel on sponsorship, broadcasts, event management. We might be 679 00:36:18,160 --> 00:36:20,920 Speaker 1: able to help the management team and help the players 680 00:36:21,280 --> 00:36:24,000 Speaker 1: as we go forward. So we stood up a business 681 00:36:24,040 --> 00:36:27,520 Speaker 1: called PGA Tour Enterprises. It was close to a thirteen 682 00:36:27,640 --> 00:36:31,360 Speaker 1: billion dollar valuation at the time. We invested one point 683 00:36:31,400 --> 00:36:35,319 Speaker 1: five billion dollars from Fenway Sports Group, from Steve and 684 00:36:35,320 --> 00:36:38,800 Speaker 1: Andy Cohen, the owners of the New York Mets, Arthur Blank, 685 00:36:39,000 --> 00:36:43,279 Speaker 1: owner of the Atlanta Falcons, Wick grossback Mark, Lazri, List 686 00:36:43,360 --> 00:36:47,040 Speaker 1: goes on and on. Really blue chip sports team owners 687 00:36:47,280 --> 00:36:49,480 Speaker 1: that have a passion for golf, that want to be 688 00:36:49,680 --> 00:36:52,600 Speaker 1: long term partners with the players. We thought that that 689 00:36:52,719 --> 00:36:55,960 Speaker 1: might be a great path forward. We were very fortunate 690 00:36:56,040 --> 00:36:58,279 Speaker 1: to be selected. They had a lot of people who 691 00:36:58,280 --> 00:37:01,360 Speaker 1: are bidding and interested in helping them, and like with 692 00:37:01,440 --> 00:37:05,880 Speaker 1: our other investments, whether it's Red Sox, Liverpool, Pittsburgh, Rauch Fenway, 693 00:37:06,320 --> 00:37:08,799 Speaker 1: I'm sure we've made every mistake in the book as 694 00:37:08,800 --> 00:37:11,319 Speaker 1: we start here in the first couple of years, but 695 00:37:11,400 --> 00:37:15,160 Speaker 1: as we learn the business and get involved, hopefully we'll 696 00:37:15,160 --> 00:37:18,640 Speaker 1: be able to help improve the tour. We're incredibly excited. 697 00:37:19,000 --> 00:37:22,279 Speaker 1: We just hired Brian Rolapp as our new CEO. He 698 00:37:22,440 --> 00:37:26,320 Speaker 1: joins later in July, and you know, he's a proven 699 00:37:26,400 --> 00:37:29,080 Speaker 1: leader in the sports industry, great career at the National 700 00:37:29,080 --> 00:37:31,520 Speaker 1: Football League, and we think he's going to do great 701 00:37:31,520 --> 00:37:34,839 Speaker 1: things at the PGA Tour. So long, long way to go, 702 00:37:35,000 --> 00:37:36,600 Speaker 1: But that's the history in the background. 703 00:37:37,120 --> 00:37:39,920 Speaker 3: Is the intention to get that framework over the finish 704 00:37:40,000 --> 00:37:43,879 Speaker 3: line and have some sort of commercial agreement and are 705 00:37:43,880 --> 00:37:46,600 Speaker 3: we closer to that than we were, you know in 706 00:37:46,640 --> 00:37:47,560 Speaker 3: the past couple of years. 707 00:37:48,080 --> 00:37:51,040 Speaker 1: Yeah, you know, I would say it's still unknown. I 708 00:37:51,080 --> 00:37:54,160 Speaker 1: know that's not a very satisfying answer, but it's the truth. 709 00:37:54,280 --> 00:37:58,000 Speaker 1: We're really focusing on the PGA Tour and the strengths 710 00:37:58,000 --> 00:38:00,520 Speaker 1: of the PGA Tour in terms of the our mat 711 00:38:00,520 --> 00:38:03,880 Speaker 1: ins the markets, in terms of the product and the 712 00:38:03,920 --> 00:38:07,359 Speaker 1: players and what their needs are. We have built a 713 00:38:07,480 --> 00:38:12,520 Speaker 1: great relationship with the PIF and their conversations I think 714 00:38:12,560 --> 00:38:17,879 Speaker 1: will continue. It's just really unclear what the future will hold. 715 00:38:17,920 --> 00:38:21,239 Speaker 1: I think both parties have a very open mind and 716 00:38:21,360 --> 00:38:24,239 Speaker 1: now as I see it, you know, we're sort of 717 00:38:24,239 --> 00:38:27,719 Speaker 1: focusing on the PGA Tour what we have going on, 718 00:38:27,960 --> 00:38:31,680 Speaker 1: and the Live Tour are focused on their tour and 719 00:38:31,760 --> 00:38:35,360 Speaker 1: building this global platform, and so we'll see where the 720 00:38:35,400 --> 00:38:38,759 Speaker 1: conversations go. I think that the temperature has kind of 721 00:38:38,760 --> 00:38:41,680 Speaker 1: cooled down. It was rough there for a couple of years, 722 00:38:41,719 --> 00:38:44,600 Speaker 1: but I think things have calmed down and we're both 723 00:38:44,719 --> 00:38:48,560 Speaker 1: sort of moving forward focused on our own individual products, 724 00:38:48,640 --> 00:38:50,520 Speaker 1: and then we'll see where the future leads us. 725 00:39:02,680 --> 00:39:04,719 Speaker 3: All right, so let's move to the lightning round. It's 726 00:39:04,719 --> 00:39:07,800 Speaker 3: five questions. It's just you know, whatever comes to your mind. 727 00:39:08,120 --> 00:39:10,840 Speaker 3: You're ready, ox Ready, I am here we go. Okay, 728 00:39:11,239 --> 00:39:13,879 Speaker 3: all right, Sam, what's the best piece of advice you've 729 00:39:13,880 --> 00:39:15,560 Speaker 3: received on deal making your business? 730 00:39:16,920 --> 00:39:20,840 Speaker 1: Surround yourself with the absolute best people that are a 731 00:39:20,880 --> 00:39:21,880 Speaker 1: lot smarter than you. 732 00:39:22,600 --> 00:39:26,520 Speaker 4: Okay, what's your dream deal making partner? 733 00:39:28,440 --> 00:39:32,680 Speaker 1: Someone who is hardwired towards creating a win win, Not 734 00:39:32,800 --> 00:39:35,680 Speaker 1: someone who has to win every point in a negotiation, 735 00:39:35,880 --> 00:39:39,439 Speaker 1: but someone who really wants a win win, a fair 736 00:39:39,600 --> 00:39:43,000 Speaker 1: deal where both sides walk away from the table feeling 737 00:39:43,080 --> 00:39:44,759 Speaker 1: like they gave a lot, but they got a lot 738 00:39:44,800 --> 00:39:45,160 Speaker 1: as well. 739 00:39:46,000 --> 00:39:47,680 Speaker 2: All Right, this is an interesting one for you. 740 00:39:47,800 --> 00:39:50,120 Speaker 3: Which team do you want to see win a championship 741 00:39:50,160 --> 00:39:51,399 Speaker 3: more than any right now? 742 00:39:51,480 --> 00:39:55,440 Speaker 1: The Boston Red Soxer. We're sitting there at midsummer at 743 00:39:55,440 --> 00:39:57,759 Speaker 1: Fenway Park, and we've had a rough couple of years. 744 00:39:57,800 --> 00:39:59,920 Speaker 1: Alex knows, we got to get back to where we belong. 745 00:40:00,840 --> 00:40:04,239 Speaker 4: What's your hype song before a big meeting or negotiation? 746 00:40:05,200 --> 00:40:08,360 Speaker 1: Well, thanks to THEO he turned me on to Pearl 747 00:40:08,440 --> 00:40:11,600 Speaker 1: Jam about thirty years ago, and so anything Pearl Jam 748 00:40:11,680 --> 00:40:12,520 Speaker 1: is good with me. 749 00:40:13,400 --> 00:40:13,839 Speaker 2: All right? 750 00:40:13,920 --> 00:40:16,680 Speaker 3: And finally, what's your advice for someone listening who wants 751 00:40:16,719 --> 00:40:17,760 Speaker 3: a career like yours? 752 00:40:19,080 --> 00:40:23,560 Speaker 1: Work harder than anybody else, and live by the golden rule. 753 00:40:23,840 --> 00:40:27,520 Speaker 1: Just treat everyone how you would like to be treated yourself. 754 00:40:27,680 --> 00:40:31,040 Speaker 1: And no matter where you're from, whatever your background is, 755 00:40:31,080 --> 00:40:33,480 Speaker 1: the sports industry is a great, great place to be 756 00:40:33,640 --> 00:40:36,400 Speaker 1: and I could not recommend it more strongly as a 757 00:40:36,440 --> 00:40:37,000 Speaker 1: career path. 758 00:40:38,600 --> 00:40:41,239 Speaker 3: All right, Sam Kennedy, you are the man. Thank you 759 00:40:41,320 --> 00:40:44,000 Speaker 3: so much, presidency of the Boston Red Sox and a 760 00:40:44,080 --> 00:40:48,120 Speaker 3: partner and CEO of Fenway Sports Group. Delighted to spend 761 00:40:48,120 --> 00:40:48,839 Speaker 3: some time with you. 762 00:40:49,000 --> 00:40:51,320 Speaker 1: Great to be with you guys, Thanks so much, Jason, 763 00:40:51,360 --> 00:40:52,399 Speaker 1: Thanks Alex. 764 00:40:52,600 --> 00:40:53,280 Speaker 2: Thank you, Buddy. 765 00:40:57,719 --> 00:41:00,480 Speaker 3: The Deal is hosted by Alex Rodriguez and Meson Kelly. 766 00:41:00,920 --> 00:41:04,600 Speaker 3: This episode was made by Anamazarakus, Stacey Wong and Lizzie 767 00:41:04,640 --> 00:41:08,200 Speaker 3: Phillip Amy Keen is our editor and Will Connolly is 768 00:41:08,239 --> 00:41:11,640 Speaker 3: our video editor. Our theme music is made by Blake Maples. 769 00:41:11,960 --> 00:41:16,160 Speaker 3: Our executive producers are Kelly Leferrier, Ashley Hoenig, and Brenda Nonham. 770 00:41:16,680 --> 00:41:20,160 Speaker 3: Sage Bauman is the head of Bloomberg Podcast. Additional support 771 00:41:20,160 --> 00:41:23,600 Speaker 3: from Rachel Carnivale and Elena Los Angeles. Thanks so much 772 00:41:23,640 --> 00:41:26,000 Speaker 3: for listening to the deal. If you have a minute, subscribe, 773 00:41:26,040 --> 00:41:29,080 Speaker 3: rate and review our show. It'll help other listeners find us. 774 00:41:29,280 --> 00:41:31,120 Speaker 3: I'm Jason Kelly. See you next week.