1 00:00:02,520 --> 00:00:05,560 Speaker 1: Hello, I'm Michael barn and I'm Scott Sosnik. Every week 2 00:00:05,559 --> 00:00:08,360 Speaker 1: at this time, plus Mondays and Wednesdays and Thursdays, we 3 00:00:08,400 --> 00:00:10,560 Speaker 1: explore the big money issues in the world of sports. 4 00:00:10,600 --> 00:00:14,480 Speaker 1: Another good show. This week we have Chief Revenue Officer 5 00:00:14,560 --> 00:00:17,360 Speaker 1: of the U S T A Louse Share. But first 6 00:00:17,560 --> 00:00:19,800 Speaker 1: let's look at the top stories of the week. Joining 7 00:00:19,840 --> 00:00:23,680 Speaker 1: us as Bloomberg Business of Sports reporter Evan Noby Williams. Wait, wait, 8 00:00:24,160 --> 00:00:25,680 Speaker 1: before we go on, I got to tell you a 9 00:00:25,720 --> 00:00:33,680 Speaker 1: quick story. I had an endoscopy earlier this week, and 10 00:00:33,720 --> 00:00:37,120 Speaker 1: they have to put you under an anesthetic. So, by 11 00:00:37,159 --> 00:00:39,319 Speaker 1: the way I counted from one hundred, I made it one. 12 00:00:39,840 --> 00:00:41,640 Speaker 1: That's pretty good. I don't remember when I had my shoulder, 13 00:00:42,080 --> 00:00:47,800 Speaker 1: I don't remember. That was great. But when I woke up, 14 00:00:48,440 --> 00:00:51,160 Speaker 1: I saw a figure next to the bed and I said, 15 00:00:51,680 --> 00:00:54,120 Speaker 1: I love that. It was not my wife. I thought 16 00:00:54,120 --> 00:00:57,040 Speaker 1: it was my wife's. It turned out to be the nurse. 17 00:00:57,480 --> 00:00:59,920 Speaker 1: It was like and then the taking a sign failed 18 00:01:00,080 --> 00:01:03,480 Speaker 1: in turn. Then the nurse goes to my wife, who 19 00:01:03,600 --> 00:01:05,880 Speaker 1: was out, you know, in the lobby, and says, you know, 20 00:01:06,000 --> 00:01:08,680 Speaker 1: your husband said that I love you that she you 21 00:01:08,720 --> 00:01:12,880 Speaker 1: know that said he loves me, thinking it was you. Yeah, 22 00:01:12,959 --> 00:01:17,240 Speaker 1: so did you think? No? I thought it was my wife. 23 00:01:18,280 --> 00:01:22,760 Speaker 1: And then as we're heading as only one spongebacks as 24 00:01:22,760 --> 00:01:25,480 Speaker 1: we're heading home, it's you know, all of us. And 25 00:01:25,520 --> 00:01:27,880 Speaker 1: then this is when all the big news is breaking, 26 00:01:27,880 --> 00:01:30,319 Speaker 1: you know, with Cony Man and fort whatever, and I'm 27 00:01:30,360 --> 00:01:31,839 Speaker 1: half out of but I said, hey, wait a minute, 28 00:01:31,880 --> 00:01:34,480 Speaker 1: can we listen to And then my wife, God bless her, 29 00:01:34,640 --> 00:01:37,680 Speaker 1: she said, you need to shut the sam Hill up 30 00:01:37,760 --> 00:01:40,200 Speaker 1: because you just told the nurse you love her. Next thing, 31 00:01:40,240 --> 00:01:43,440 Speaker 1: I know, I'm listening to the eighties on eight on 32 00:01:43,640 --> 00:01:49,320 Speaker 1: serious X him by the way, nice music. Right, all right, 33 00:01:50,360 --> 00:01:53,559 Speaker 1: all right, I'm done. I'm done with my story. Uh 34 00:01:53,680 --> 00:01:58,640 Speaker 1: let's talk about Yeah, this is this one is serious. 35 00:01:58,640 --> 00:02:01,600 Speaker 1: This is about Ohio State and uh Urban Meyer came 36 00:02:01,600 --> 00:02:07,720 Speaker 1: out and uh he held a presser earlier and said, uh, 37 00:02:07,840 --> 00:02:10,080 Speaker 1: than he apologized for what went down, you know what 38 00:02:10,080 --> 00:02:11,400 Speaker 1: they say for And I don't want to. I really 39 00:02:11,440 --> 00:02:13,000 Speaker 1: don't want us to be preachy because this is a 40 00:02:13,040 --> 00:02:15,200 Speaker 1: business of sports podcast. So I don't want us to 41 00:02:15,240 --> 00:02:18,200 Speaker 1: be all handwringing and moral indignation and all that. But 42 00:02:18,440 --> 00:02:22,880 Speaker 1: the best predictor of future performance is past, right, and 43 00:02:22,919 --> 00:02:25,040 Speaker 1: I've said this before on this show. I always go 44 00:02:25,120 --> 00:02:27,399 Speaker 1: back to that Gordon ge line. When he was president 45 00:02:27,680 --> 00:02:30,320 Speaker 1: of Ohio State, Jim Trestle on the team had just 46 00:02:30,440 --> 00:02:32,400 Speaker 1: come off a season in which they want a BCS 47 00:02:32,440 --> 00:02:35,360 Speaker 1: Bowl game. They were up five in the country and 48 00:02:35,400 --> 00:02:37,920 Speaker 1: then the kids were selling some memorabilia at such a 49 00:02:37,960 --> 00:02:41,680 Speaker 1: Trestle knew about it, didn't take action, and what happened. 50 00:02:41,960 --> 00:02:45,960 Speaker 1: Trussell was suspended for two games. And when somebody asked 51 00:02:46,120 --> 00:02:48,120 Speaker 1: Gordon g at the time, if he's gonna fire the 52 00:02:48,160 --> 00:02:52,240 Speaker 1: football coach, you remember the quote, I'm just I'm just 53 00:02:52,320 --> 00:02:55,600 Speaker 1: hoping the coach doesn't dismiss me. That was the line. 54 00:02:56,120 --> 00:02:58,480 Speaker 1: And I mean, you're our numbers guy when it comes 55 00:02:58,480 --> 00:03:02,680 Speaker 1: to college football. For those who don't realize how important 56 00:03:02,680 --> 00:03:06,160 Speaker 1: the football team is to the athletic department, which was 57 00:03:06,560 --> 00:03:08,839 Speaker 1: very difficult for me to believe these days, but they're 58 00:03:08,840 --> 00:03:11,520 Speaker 1: in a unique position of generating more revenue than anybody else. Yeah, 59 00:03:11,560 --> 00:03:14,080 Speaker 1: I make no mistake about it. This Urban Meyer decision 60 00:03:14,160 --> 00:03:17,399 Speaker 1: was one that was made for money. Ohio State generates 61 00:03:17,440 --> 00:03:20,800 Speaker 1: almost two hundred million dollars a year on its athletics department. 62 00:03:21,040 --> 00:03:23,880 Speaker 1: A vast majority of that comes from its football department. 63 00:03:24,680 --> 00:03:28,040 Speaker 1: The football program is the front porch to the university. 64 00:03:28,400 --> 00:03:30,720 Speaker 1: You can tie lines to the success they've had on 65 00:03:30,800 --> 00:03:34,040 Speaker 1: the gridiron, to their success in other sports, to the 66 00:03:34,080 --> 00:03:37,440 Speaker 1: fact that they're one of the bigger public research universities 67 00:03:37,480 --> 00:03:40,080 Speaker 1: in the country. There's so many ways in which college 68 00:03:40,080 --> 00:03:44,840 Speaker 1: football helps feed and also help finance the Ohio State 69 00:03:45,320 --> 00:03:48,400 Speaker 1: UH endeavors, and you know, losing a coach like Urban 70 00:03:48,440 --> 00:03:51,840 Speaker 1: Meyer amid scandal is something that threatens that revenue stream. 71 00:03:52,080 --> 00:03:53,920 Speaker 1: And when the chips were on the table, as we 72 00:03:53,960 --> 00:03:56,960 Speaker 1: saw with this press conference on Wednesday night, UH, they 73 00:03:57,000 --> 00:03:58,760 Speaker 1: decided to keep the cash cow going for are no 74 00:03:58,880 --> 00:04:01,360 Speaker 1: student fees, No Universe City helped for the athletic department. 75 00:04:01,440 --> 00:04:03,040 Speaker 1: That's because of that football team. And by the way, 76 00:04:03,080 --> 00:04:05,560 Speaker 1: we should add three games. That's the punishment that you 77 00:04:05,720 --> 00:04:10,640 Speaker 1: suspension for Urban Meyer. Moving on now, Tiger and Phil 78 00:04:11,320 --> 00:04:14,440 Speaker 1: oh My, we got a match game going up nine 79 00:04:14,560 --> 00:04:17,600 Speaker 1: million dollars and they have a date. Yeah, I mean 80 00:04:17,600 --> 00:04:19,000 Speaker 1: we we we have a date, We have a time. 81 00:04:19,040 --> 00:04:21,599 Speaker 1: All of this was rumored and what when the rumor 82 00:04:21,640 --> 00:04:22,920 Speaker 1: came out it was gonna be on T N T. 83 00:04:23,640 --> 00:04:26,599 Speaker 1: I love the press release that came out because it's 84 00:04:26,640 --> 00:04:28,800 Speaker 1: it really shows what's going on the media landscape. But 85 00:04:28,880 --> 00:04:30,960 Speaker 1: Warner Media is Turner Division. You know, this is A 86 00:04:31,200 --> 00:04:34,600 Speaker 1: T and T Time Warner. This is why these companies 87 00:04:34,640 --> 00:04:36,760 Speaker 1: are doing it. They get scale, they can put on 88 00:04:36,800 --> 00:04:40,320 Speaker 1: events like this. It's going to be a pay per view. 89 00:04:40,920 --> 00:04:44,040 Speaker 1: You've got HBO involved, You've got Bleacher Report Live, which 90 00:04:44,080 --> 00:04:46,840 Speaker 1: is the the O T. T product, So you're you're 91 00:04:46,839 --> 00:04:50,560 Speaker 1: gonna see the full mite of this combined company on display. Yeah, 92 00:04:50,600 --> 00:04:51,960 Speaker 1: this is the first time we're going to see the 93 00:04:51,960 --> 00:04:55,080 Speaker 1: A T and T Time Warner mega mega giant in work. 94 00:04:55,160 --> 00:04:58,880 Speaker 1: It's T n T, it's Bleacher Report, it's HBO, it's 95 00:04:58,920 --> 00:05:02,880 Speaker 1: Turner International for distribution overseas. Uh. This is as Scott said, 96 00:05:02,880 --> 00:05:04,920 Speaker 1: this is the future of media. And this will be 97 00:05:04,960 --> 00:05:06,880 Speaker 1: the first event where we see kind of the full 98 00:05:06,960 --> 00:05:11,880 Speaker 1: broad spectrum appealing to millennials, appealing to older Americans, appealing overseas. 99 00:05:12,320 --> 00:05:14,840 Speaker 1: This will be flexing everything that they have for this product. 100 00:05:14,920 --> 00:05:18,360 Speaker 1: And by the way, Phil Mickelson joined Twitter like this month, 101 00:05:18,480 --> 00:05:20,560 Speaker 1: very recently, and now he's promoting this thing. I'm like, 102 00:05:21,040 --> 00:05:24,960 Speaker 1: come on there there there conversation between It's so contrived. 103 00:05:25,000 --> 00:05:27,360 Speaker 1: I wish they just didn't do it that the names 104 00:05:27,400 --> 00:05:29,680 Speaker 1: and the event should stand on its own. Don't slam 105 00:05:29,720 --> 00:05:34,560 Speaker 1: people who just joined old guy Twitter. Moving right along 106 00:05:35,600 --> 00:05:39,479 Speaker 1: soccer Faldo, you know. And I have to admit he's 107 00:05:39,480 --> 00:05:42,880 Speaker 1: going to be the ambassador to the Zone DA Zone. 108 00:05:43,240 --> 00:05:45,960 Speaker 1: But I have to admit it's like I wasn't aware 109 00:05:46,000 --> 00:05:48,400 Speaker 1: of it until three weeks ago. I was going to say, 110 00:05:48,440 --> 00:05:51,200 Speaker 1: in the US, a lot of people would think it's 111 00:05:51,279 --> 00:05:54,160 Speaker 1: Dad's in the asien what is this thing? But it 112 00:05:54,279 --> 00:05:58,080 Speaker 1: performed groups sort of your your O T T offering, 113 00:05:58,600 --> 00:06:00,719 Speaker 1: And they made a big splash when they hired John Skipper. 114 00:06:01,240 --> 00:06:04,760 Speaker 1: And now they're using the might and the international appeal 115 00:06:04,760 --> 00:06:06,599 Speaker 1: of Ronaldo to make sure everybody in the US and 116 00:06:06,600 --> 00:06:09,719 Speaker 1: abroad knows what what exactly this is. Yeah, this is 117 00:06:09,760 --> 00:06:11,520 Speaker 1: more of a play for abroad. They don't really have 118 00:06:11,560 --> 00:06:14,520 Speaker 1: soccer rights here in the US quite yet. People is 119 00:06:14,560 --> 00:06:17,400 Speaker 1: a huge name they have depending on what country you're 120 00:06:17,400 --> 00:06:19,440 Speaker 1: in, in in Europe or in Asia, they have a massive 121 00:06:19,480 --> 00:06:23,359 Speaker 1: amount of soccer distribution rights. Uh, they have deep pockets. 122 00:06:23,400 --> 00:06:25,479 Speaker 1: We saw the billion dollar deal here for boxing in 123 00:06:25,520 --> 00:06:28,760 Speaker 1: the US. Of all sports, Uh, this is probably the again, 124 00:06:28,800 --> 00:06:30,640 Speaker 1: this is the first of all. A lot more we're 125 00:06:30,640 --> 00:06:33,240 Speaker 1: gonna be hearing from the Zone bus overseas and in 126 00:06:33,279 --> 00:06:36,200 Speaker 1: the US. Our thanks to Bloomberg Business of Sports reporter 127 00:06:36,440 --> 00:06:39,599 Speaker 1: Evan Nobi Williams, better known as super Dude. Now our 128 00:06:39,600 --> 00:06:41,920 Speaker 1: interview with the Chief Revenue Officer of the U s 129 00:06:41,960 --> 00:06:45,440 Speaker 1: t A, Loui Share. Lou is responsible for all commercial 130 00:06:45,440 --> 00:06:47,800 Speaker 1: activities and business development for the U s t A, 131 00:06:48,040 --> 00:06:52,360 Speaker 1: the U S Open US Open Series, community based programs, 132 00:06:52,440 --> 00:06:56,160 Speaker 1: and all associated U s t A properties. In this capacity, 133 00:06:56,400 --> 00:07:00,920 Speaker 1: share overseas the broadcast, sponsorship, ticketing and hospital chalidy businesses 134 00:07:01,200 --> 00:07:04,840 Speaker 1: driving significant growth in recent years. Michael Lou has an 135 00:07:04,839 --> 00:07:08,760 Speaker 1: extensive background. He's also worked at MSG, time Warner Global Marketing, 136 00:07:08,839 --> 00:07:12,160 Speaker 1: Clear Channel Advantage. Started his career at Wilson Sporting Goods 137 00:07:12,160 --> 00:07:14,840 Speaker 1: in Chicago, and Lou thank you very much for joining us. Oh, 138 00:07:14,880 --> 00:07:16,760 Speaker 1: thank you. It's a pleasure to be here. I appreciate it. 139 00:07:16,800 --> 00:07:19,720 Speaker 1: We love when people come in because you really get 140 00:07:19,720 --> 00:07:22,720 Speaker 1: a good rapport going. Really, we have a lot of 141 00:07:22,760 --> 00:07:25,040 Speaker 1: fun in person. We love it. So let me say, 142 00:07:25,040 --> 00:07:27,600 Speaker 1: first of all, happy anniversary. Thank you very much. It's 143 00:07:27,600 --> 00:07:30,440 Speaker 1: a big year, fiftieth anniversary of the Open Air. We're 144 00:07:30,520 --> 00:07:32,680 Speaker 1: quite excited I'm glad people don't think it's as he 145 00:07:32,720 --> 00:07:35,640 Speaker 1: and his wife but the US Open. We're only twenty 146 00:07:35,760 --> 00:07:39,400 Speaker 1: But so how far in front of the open does 147 00:07:39,440 --> 00:07:42,640 Speaker 1: your life end? I know people who work at the opening, 148 00:07:42,760 --> 00:07:45,520 Speaker 1: Oh August or oh July, and here it comes, you know, 149 00:07:45,760 --> 00:07:48,480 Speaker 1: the open? Is it? Really? Is it? It's a year 150 00:07:48,560 --> 00:07:51,880 Speaker 1: round sort of, certainly a year round job, and and 151 00:07:51,880 --> 00:07:54,000 Speaker 1: and and it's a it's a year round initiative. They 152 00:07:54,000 --> 00:07:56,400 Speaker 1: are different rhythms to different parts of the business, or 153 00:07:56,400 --> 00:07:59,120 Speaker 1: cycles to different parts of the business. But we will 154 00:07:59,160 --> 00:08:03,400 Speaker 1: spend you know, five nights out in the hotels next 155 00:08:03,440 --> 00:08:06,320 Speaker 1: to La Guardia. You can walk out of the venue there. 156 00:08:06,320 --> 00:08:12,320 Speaker 1: It's a two week event. No one's found yet. I 157 00:08:12,360 --> 00:08:14,360 Speaker 1: always see all the courtesy shuttles though. Are the nice 158 00:08:14,400 --> 00:08:17,240 Speaker 1: hotels on Central Park South? Yes, there there are. There 159 00:08:17,280 --> 00:08:19,880 Speaker 1: are a lot of International Federation folks that are here 160 00:08:19,920 --> 00:08:22,200 Speaker 1: in New York City. We actually prefer to be closer 161 00:08:22,200 --> 00:08:23,800 Speaker 1: where there. You know, some of our matches go till 162 00:08:23,800 --> 00:08:25,960 Speaker 1: two am and just to be able to hop in 163 00:08:26,000 --> 00:08:28,120 Speaker 1: the shuttle and go five minutes across the street, as 164 00:08:28,120 --> 00:08:30,560 Speaker 1: opposed to trying to get back into Manhattan to turn 165 00:08:30,600 --> 00:08:32,600 Speaker 1: around and be back on site by eight. It's just 166 00:08:32,720 --> 00:08:36,600 Speaker 1: much more convenient. Does what happens on the court matter 167 00:08:36,720 --> 00:08:38,760 Speaker 1: to revenue or is that all determined ahead It like 168 00:08:38,760 --> 00:08:40,600 Speaker 1: Federer gets knocked out and the dog gets knocked out, 169 00:08:40,640 --> 00:08:43,160 Speaker 1: Djokovic gets knocked out, I got a bunch of no names. 170 00:08:43,440 --> 00:08:46,800 Speaker 1: Doesn't matter to your business. It doesn't have a material 171 00:08:47,000 --> 00:08:51,760 Speaker 1: impact on that year's event. The places that you'll see 172 00:08:51,840 --> 00:08:54,520 Speaker 1: some some some change will be the value of tickets 173 00:08:54,559 --> 00:08:57,120 Speaker 1: on the secondary market. All of our tickets are sold 174 00:08:57,200 --> 00:08:59,640 Speaker 1: well in advance of the tournament. People are buying those 175 00:08:59,679 --> 00:09:02,440 Speaker 1: tickets without knowing who's going to play on what particular 176 00:09:02,520 --> 00:09:05,760 Speaker 1: day because the schedules only get set the day before. 177 00:09:05,760 --> 00:09:09,040 Speaker 1: Our TV deals are locked in place. But in terms 178 00:09:09,080 --> 00:09:13,840 Speaker 1: of buzz and excitement that then carries over into future 179 00:09:13,960 --> 00:09:16,800 Speaker 1: years and whether that be broadcast right steals that might 180 00:09:16,840 --> 00:09:20,880 Speaker 1: come up in future ticket pricing for future years, UM 181 00:09:21,080 --> 00:09:23,960 Speaker 1: sponsorship renewals, things like that. We certainly want to be 182 00:09:24,000 --> 00:09:27,400 Speaker 1: able to leverage that excitement, and as an organization that's 183 00:09:27,400 --> 00:09:31,240 Speaker 1: focused on a mission about growing the game UM, having 184 00:09:31,280 --> 00:09:34,720 Speaker 1: those big names performing well certainly helps us inspire the 185 00:09:34,760 --> 00:09:37,480 Speaker 1: next generation of players. One of the biggest draws in 186 00:09:37,559 --> 00:09:41,520 Speaker 1: tennis today. Serena Williams, she just had a baby, and 187 00:09:42,080 --> 00:09:45,400 Speaker 1: she brought up the subject about the ranking system because 188 00:09:45,520 --> 00:09:48,800 Speaker 1: when she had the baby, she got knocked way down 189 00:09:48,880 --> 00:09:51,160 Speaker 1: in the rankings, and she said, hey, this needs to 190 00:09:51,200 --> 00:09:54,520 Speaker 1: be adjusted. Your thoughts on that. Well, As an organization, 191 00:09:54,600 --> 00:09:56,880 Speaker 1: we have come out, um and I believe it was 192 00:09:56,920 --> 00:09:59,600 Speaker 1: only about a month ago, issued a statement that we 193 00:09:59,600 --> 00:10:02,440 Speaker 1: were going to protect her her rankings as if it 194 00:10:02,520 --> 00:10:04,880 Speaker 1: was an injury. I may not have the technical terms 195 00:10:04,880 --> 00:10:08,080 Speaker 1: exactly right, but as if it was an injury, so 196 00:10:08,120 --> 00:10:10,840 Speaker 1: that she will be seated as she comes back into 197 00:10:11,200 --> 00:10:13,960 Speaker 1: into the U S Open despite the lack of matches 198 00:10:14,000 --> 00:10:16,559 Speaker 1: and the lack of points because of her absence, and 199 00:10:16,679 --> 00:10:19,640 Speaker 1: take care of your big draw. I think it's right. 200 00:10:19,679 --> 00:10:22,880 Speaker 1: We've done it. We've done it before with with Kim 201 00:10:22,920 --> 00:10:26,200 Speaker 1: Clister's so it's not it's not unprecedented. And not only 202 00:10:26,400 --> 00:10:29,000 Speaker 1: is it fair to a person like Serena Williams who 203 00:10:29,000 --> 00:10:31,080 Speaker 1: had a baby, but it's also fair to the person 204 00:10:31,640 --> 00:10:34,080 Speaker 1: way down at the bottom. And now they find out 205 00:10:34,640 --> 00:10:37,840 Speaker 1: I kind of play Serena Williams. Oh my goodness. Seeing 206 00:10:37,880 --> 00:10:42,040 Speaker 1: Serena unseated as a first round opponent is probably not 207 00:10:42,120 --> 00:10:45,880 Speaker 1: high on anyone's list of US Open goals. Yeah, you 208 00:10:45,880 --> 00:10:47,360 Speaker 1: don't want to be the third seed and see Serena 209 00:10:47,480 --> 00:10:50,920 Speaker 1: in the second week, our second day. You tease that 210 00:10:51,080 --> 00:10:54,840 Speaker 1: your mission is to promote tennis. I don't think people 211 00:10:54,880 --> 00:10:56,959 Speaker 1: really know what the U s t A does? They 212 00:10:57,000 --> 00:10:59,760 Speaker 1: know the U S Open? How does the revenue flow? 213 00:11:00,040 --> 00:11:01,840 Speaker 1: I mean it's the big money mak But then how 214 00:11:01,880 --> 00:11:03,960 Speaker 1: does the revenue flow? So the the U S Open 215 00:11:04,400 --> 00:11:06,960 Speaker 1: certainly funds the organization, but how much does it make? 216 00:11:07,000 --> 00:11:08,480 Speaker 1: How much does it cost? How much does it make? 217 00:11:08,559 --> 00:11:13,120 Speaker 1: You know? Our our our reports are our financial reports 218 00:11:13,120 --> 00:11:16,720 Speaker 1: are are are released annually and and shared with the public. 219 00:11:16,800 --> 00:11:19,160 Speaker 1: We're in excess of three hundred and fifty million dollars 220 00:11:19,200 --> 00:11:22,199 Speaker 1: and we've continued to uh to grow the The US 221 00:11:22,320 --> 00:11:25,240 Speaker 1: Open drives a lot of the revenue for the organization, 222 00:11:25,280 --> 00:11:27,440 Speaker 1: but we we operate some other events and and we 223 00:11:27,520 --> 00:11:31,480 Speaker 1: have a membership platform as well, so there are other contributors. 224 00:11:32,000 --> 00:11:34,600 Speaker 1: Um your question is a great one though, and and 225 00:11:34,600 --> 00:11:36,520 Speaker 1: and one that's important to us. So we are a 226 00:11:36,559 --> 00:11:40,000 Speaker 1: nonprofit organization. Our goal is to grow the game, not 227 00:11:40,080 --> 00:11:42,640 Speaker 1: because we have a stake in in the ball sales 228 00:11:42,760 --> 00:11:45,360 Speaker 1: or racquet sales or court construction, but out of a 229 00:11:45,400 --> 00:11:48,640 Speaker 1: belief that tennis not certainly not alone amongst sports, is 230 00:11:48,640 --> 00:11:50,719 Speaker 1: a great way to improve the quality of someone's life. 231 00:11:50,760 --> 00:11:53,920 Speaker 1: You've got us on participating in U sports. UH sports 232 00:11:53,920 --> 00:11:55,839 Speaker 1: can be a great way to improve the quality of life. 233 00:11:55,840 --> 00:11:57,560 Speaker 1: And if you have enough people playing, the quality of 234 00:11:57,600 --> 00:12:01,400 Speaker 1: life for the country UH improves. Yeah. The U s 235 00:12:01,400 --> 00:12:04,640 Speaker 1: Open funds most of that mission, and the mission is 236 00:12:04,679 --> 00:12:09,040 Speaker 1: focused on growing participation and and and getting more getting 237 00:12:09,040 --> 00:12:11,599 Speaker 1: more play. We have seventeen sections around the country that 238 00:12:11,720 --> 00:12:15,080 Speaker 1: benefit UH from the revenues that are generated or the 239 00:12:15,080 --> 00:12:18,319 Speaker 1: profit off the event that that go back into investing 240 00:12:18,360 --> 00:12:21,040 Speaker 1: in the game at all levels. At at junior levels 241 00:12:21,360 --> 00:12:25,599 Speaker 1: player development. We have a ninety plus national championship and 242 00:12:25,679 --> 00:12:34,760 Speaker 1: age group level, so junior play. You finally, all three 243 00:12:34,880 --> 00:12:39,440 Speaker 1: people in the stands and watch that one man well 244 00:12:39,480 --> 00:12:41,679 Speaker 1: you know what now speaking of old man bar and 245 00:12:41,920 --> 00:12:44,240 Speaker 1: they everybody does a face plant. When I bring this 246 00:12:44,360 --> 00:12:47,679 Speaker 1: up from the days of Rod Labor of von Gulagan 247 00:12:48,360 --> 00:12:52,560 Speaker 1: to today. Obviously the equipment is better, but what has 248 00:12:52,640 --> 00:12:57,520 Speaker 1: changed about the sport. I think the the level of 249 00:12:57,559 --> 00:13:02,160 Speaker 1: athleticism and and the the length of careers has changed. 250 00:13:02,200 --> 00:13:03,840 Speaker 1: So if you think back to some of the great 251 00:13:03,920 --> 00:13:07,880 Speaker 1: names in tennis, McEnroe Borg they left the sport at 252 00:13:09,880 --> 00:13:12,199 Speaker 1: Federal now is north of thirty five, right, and he 253 00:13:12,240 --> 00:13:15,800 Speaker 1: has been able to sustain that excellence um for a 254 00:13:15,880 --> 00:13:17,920 Speaker 1: much longer period of time. And I think that's a 255 00:13:17,920 --> 00:13:23,120 Speaker 1: function of better training methods and technology, more attention on diet. 256 00:13:23,600 --> 00:13:25,920 Speaker 1: I also think it's a function of being able to 257 00:13:25,960 --> 00:13:29,280 Speaker 1: manage schedules. So those players, in order to earn their 258 00:13:29,320 --> 00:13:32,360 Speaker 1: living back then, had to play every week, right the 259 00:13:32,480 --> 00:13:35,800 Speaker 1: barn Storm they played every week, week after week after week. 260 00:13:36,200 --> 00:13:38,880 Speaker 1: Now you see the top players sort of managing their 261 00:13:38,920 --> 00:13:41,319 Speaker 1: careers in their workloads so that they can peek at 262 00:13:41,320 --> 00:13:44,880 Speaker 1: the right times, uh, going into slams, things of that nature. 263 00:13:44,880 --> 00:13:47,080 Speaker 1: I think that's a big part of it. I think 264 00:13:47,160 --> 00:13:50,080 Speaker 1: the equipment certainly has has had an impact is well, 265 00:13:50,120 --> 00:13:54,440 Speaker 1: both rackets and strings um in terms of changing what 266 00:13:54,480 --> 00:13:56,480 Speaker 1: you see on the court. Right, you used to see 267 00:13:56,800 --> 00:13:59,199 Speaker 1: back in the wooden racket days, lots of long rallies. 268 00:13:59,240 --> 00:14:01,200 Speaker 1: Then as the tech knowlogy got better, it became a 269 00:14:01,240 --> 00:14:04,280 Speaker 1: servant volley game with very short points. Now we're back 270 00:14:04,360 --> 00:14:07,080 Speaker 1: to because of the control that rackets and strings allow 271 00:14:07,160 --> 00:14:11,880 Speaker 1: players UH to achieve We're back to more more baseline 272 00:14:11,920 --> 00:14:16,520 Speaker 1: sustained rally UH points and UH so it changes longer 273 00:14:16,520 --> 00:14:19,040 Speaker 1: matches things of that nature. We are chatting with lou Share, 274 00:14:19,080 --> 00:14:21,080 Speaker 1: the chief revenue officer of the U s t A. 275 00:14:21,760 --> 00:14:25,520 Speaker 1: Your job is to make money. Yes, I'm interested in that. 276 00:14:25,640 --> 00:14:28,240 Speaker 1: And about I think you signed a long term TV 277 00:14:28,320 --> 00:14:32,120 Speaker 1: deal with ESPN, including digital. This is a time now 278 00:14:32,160 --> 00:14:34,840 Speaker 1: when all these enhancements are coming. People are cashing in 279 00:14:34,920 --> 00:14:38,160 Speaker 1: on these rights. You're locked up for a while. Why 280 00:14:38,240 --> 00:14:42,120 Speaker 1: the long term strategy rather than shorter periods and let's 281 00:14:42,120 --> 00:14:45,200 Speaker 1: see what change brings. UM, we are locked up for 282 00:14:45,200 --> 00:14:47,280 Speaker 1: a while, and we think we're locked up with with 283 00:14:47,360 --> 00:14:51,080 Speaker 1: the best partner that we could be aligned with. UM 284 00:14:51,160 --> 00:14:55,160 Speaker 1: the value that they bring to our telecast, the production levels, 285 00:14:55,440 --> 00:14:59,040 Speaker 1: the investments that they make in producing our broadcast, or 286 00:14:59,200 --> 00:15:04,560 Speaker 1: are unpressed denned for for our event. UM. As technology changes, 287 00:15:04,680 --> 00:15:06,800 Speaker 1: and we know it will and it owe every now 288 00:15:06,840 --> 00:15:08,920 Speaker 1: we seem to be on sort of five year cycles 289 00:15:08,960 --> 00:15:11,480 Speaker 1: with you went from free to air to cable now 290 00:15:11,600 --> 00:15:14,760 Speaker 1: to to UH subscription and over the top all of 291 00:15:14,800 --> 00:15:19,320 Speaker 1: those things happening. We're confident that wherever the viewer goes 292 00:15:19,840 --> 00:15:23,440 Speaker 1: ESPN will be there. Now it may be access through 293 00:15:23,800 --> 00:15:26,600 Speaker 1: ESPN Plus tomorrow as opposed to it used to be 294 00:15:26,640 --> 00:15:28,920 Speaker 1: off of your cable set top box. But we know 295 00:15:29,240 --> 00:15:32,440 Speaker 1: ESPN will be there and they're bringing their resources to 296 00:15:32,480 --> 00:15:35,040 Speaker 1: support our event and tennis. They have Wimbledon, they have 297 00:15:35,320 --> 00:15:37,880 Speaker 1: the Australian Open, they have some great tennis throughout the year. 298 00:15:38,280 --> 00:15:41,000 Speaker 1: So we're we're still comfortable that we are absolutely with 299 00:15:41,400 --> 00:15:45,360 Speaker 1: the right partner. UM As an organization, broadcast is not 300 00:15:45,560 --> 00:15:49,240 Speaker 1: our core competency. Predicting the future certainly isn't part of 301 00:15:49,240 --> 00:15:52,440 Speaker 1: our our core competency, and so we made a bet 302 00:15:52,440 --> 00:15:55,160 Speaker 1: and a long term bet that they were better equipped 303 00:15:55,520 --> 00:15:59,680 Speaker 1: to protect our audience and bring and deliver an audience 304 00:15:59,720 --> 00:16:02,360 Speaker 1: for than we ever could sort of on our own. 305 00:16:02,880 --> 00:16:05,960 Speaker 1: UM Also worth noting when you think about broadcast and 306 00:16:06,000 --> 00:16:08,800 Speaker 1: the US Open, we're a global event. We're much more 307 00:16:08,840 --> 00:16:11,400 Speaker 1: like a World Cup that just finished or an Olympic 308 00:16:11,440 --> 00:16:14,760 Speaker 1: Games from a broadcast standpoint than we are a local 309 00:16:14,800 --> 00:16:17,920 Speaker 1: team and Yankees or or a league or something like that. 310 00:16:17,960 --> 00:16:23,160 Speaker 1: We're telecasting two one countries and territories around the world. UM, 311 00:16:23,240 --> 00:16:26,120 Speaker 1: the Open or the US is is a significant portion 312 00:16:26,200 --> 00:16:29,240 Speaker 1: of our broadcast business, but the Globe also represents a 313 00:16:29,240 --> 00:16:32,760 Speaker 1: significant portion, and there we've done different things. So this year, 314 00:16:32,800 --> 00:16:35,200 Speaker 1: for the first time in the UK, the US Open 315 00:16:35,280 --> 00:16:38,680 Speaker 1: will be televised through Amazon and they will have all 316 00:16:38,720 --> 00:16:42,120 Speaker 1: courts going at all times simultaneously and and video on demand. 317 00:16:42,120 --> 00:16:44,760 Speaker 1: And we're excited about UH that as well, because we 318 00:16:44,800 --> 00:16:47,080 Speaker 1: think they're a great partner, UH and a great long 319 00:16:47,200 --> 00:16:49,640 Speaker 1: term partner. Did you leave money on the table for 320 00:16:49,800 --> 00:16:52,800 Speaker 1: that long term security and that expertise in ESPN? H 321 00:16:53,800 --> 00:16:55,480 Speaker 1: I don't know that that's the case. I think it 322 00:16:55,600 --> 00:16:57,640 Speaker 1: was a balance. I think they were the right partner 323 00:16:57,680 --> 00:16:59,280 Speaker 1: if you think and we had had a long term 324 00:16:59,320 --> 00:17:03,040 Speaker 1: partnership for seven years with CBS. But if you think 325 00:17:03,080 --> 00:17:06,000 Speaker 1: about how the US Open was broadcast in those days, 326 00:17:06,080 --> 00:17:09,320 Speaker 1: you had CBS on the weekends, you had ESPN on 327 00:17:09,359 --> 00:17:12,000 Speaker 1: the week days, you had Tennis Channel in the mornings. 328 00:17:12,240 --> 00:17:15,159 Speaker 1: We felt like a single destination solution was going to 329 00:17:15,240 --> 00:17:17,879 Speaker 1: be more impactful for us as opposed to asking the 330 00:17:17,920 --> 00:17:20,840 Speaker 1: viewer to try to track us down depending on day 331 00:17:20,840 --> 00:17:23,160 Speaker 1: of the week. UM. And if you think about two 332 00:17:23,160 --> 00:17:27,359 Speaker 1: weeks with most of your broadcast being day weekday and 333 00:17:27,400 --> 00:17:30,159 Speaker 1: then weekday evenings, where would you rather be as a 334 00:17:30,200 --> 00:17:33,080 Speaker 1: sports property, and ESPN just made all the sense in 335 00:17:33,119 --> 00:17:35,119 Speaker 1: the world than the notion of sort of free to 336 00:17:35,200 --> 00:17:39,320 Speaker 1: air versus cable. We don't believe there's a differentiator any longer. Amore, 337 00:17:39,480 --> 00:17:42,240 Speaker 1: you have major sporting events on ESPN and other other 338 00:17:42,320 --> 00:17:44,960 Speaker 1: cable networks as well. Ken Solomon, the head of the 339 00:17:44,960 --> 00:17:47,960 Speaker 1: Tennis channel from me, yeah, I'm sure he is, tells 340 00:17:47,960 --> 00:17:50,640 Speaker 1: me that Anna Wintour, like middle of the Night, will 341 00:17:50,680 --> 00:17:53,320 Speaker 1: send him an email saying I don't like your graphics. 342 00:17:53,680 --> 00:17:57,240 Speaker 1: I would suggest this. That's like a valuable ally. She's 343 00:17:57,280 --> 00:18:01,679 Speaker 1: a friend of tennis. Absolutely does she have with anybody's 344 00:18:01,720 --> 00:18:05,679 Speaker 1: ear can. And she has been a loyal supporter of 345 00:18:05,680 --> 00:18:07,439 Speaker 1: the U s Open. She comes out every year, she 346 00:18:07,480 --> 00:18:10,480 Speaker 1: comes out multiple dates. Uh, there are certain players that 347 00:18:10,480 --> 00:18:12,479 Speaker 1: that she follows. You'll see her in player of boxes, 348 00:18:12,520 --> 00:18:16,000 Speaker 1: You'll see her in her h We're not we're not 349 00:18:16,080 --> 00:18:22,440 Speaker 1: receiving her notes per se, but we certainly appreciate her support. 350 00:18:22,560 --> 00:18:26,639 Speaker 1: She She's been an attendee at our opening night gallo, 351 00:18:26,680 --> 00:18:30,480 Speaker 1: which raises funds for the USCA Foundation on an annual basis. 352 00:18:30,520 --> 00:18:33,639 Speaker 1: She's she's a terrific supporter of the game, and we 353 00:18:33,720 --> 00:18:37,600 Speaker 1: certainly appreciate um as we do many of the celebrities 354 00:18:37,640 --> 00:18:39,960 Speaker 1: that are sort of a staple of of the U 355 00:18:40,080 --> 00:18:43,000 Speaker 1: S Open It. It really is who's who both of 356 00:18:43,000 --> 00:18:45,840 Speaker 1: of Wall Street and uh and the wh who's the 357 00:18:45,840 --> 00:18:47,760 Speaker 1: who of Wall Street? Who give me the Wall Street names? 358 00:18:47,800 --> 00:18:50,680 Speaker 1: Who's the who's who? Oh? Um boy. If you look 359 00:18:50,680 --> 00:18:54,080 Speaker 1: in the lower level of the of the stadium, right, 360 00:18:54,160 --> 00:18:57,640 Speaker 1: you might see Bill Gates, You've seen Michael Bloomberg, You've 361 00:18:57,640 --> 00:19:01,800 Speaker 1: seen um, Jamie Diamond, You'll see you'll see sort of 362 00:19:02,359 --> 00:19:04,639 Speaker 1: all of the top sort of hedge funds and and 363 00:19:04,720 --> 00:19:08,359 Speaker 1: financial services firms sort of represented in that lower level. 364 00:19:08,400 --> 00:19:12,280 Speaker 1: But Chase is a staple. I mean, there are some 365 00:19:12,359 --> 00:19:15,720 Speaker 1: logos that are just synonymous with events. I see Chase, 366 00:19:15,800 --> 00:19:17,840 Speaker 1: I think US Open, I see Chase. Even they said 367 00:19:17,840 --> 00:19:19,679 Speaker 1: that we're going to get to the roof, but the 368 00:19:19,720 --> 00:19:21,960 Speaker 1: design of the building looked like the Chase logo. Whether 369 00:19:22,040 --> 00:19:24,200 Speaker 1: that was on purpose or not, I don't know, but 370 00:19:24,520 --> 00:19:26,879 Speaker 1: that that that's that's just one of those anonymous brands. 371 00:19:26,920 --> 00:19:29,440 Speaker 1: We're talking with Louis Cherry with the U S t A. 372 00:19:29,800 --> 00:19:36,080 Speaker 1: And see Scott made a mistake of showing me how 373 00:19:36,320 --> 00:19:40,520 Speaker 1: to do a survey on Twitter and and now I'm 374 00:19:40,560 --> 00:19:43,520 Speaker 1: going to go just hog way. So I'm gonna bring 375 00:19:43,600 --> 00:19:45,600 Speaker 1: up this question. I know which way you're going to go. 376 00:19:46,320 --> 00:19:51,800 Speaker 1: But out of the Grand Slam events, especially like Wimbledon 377 00:19:52,240 --> 00:19:56,840 Speaker 1: and of course the US Open, which there are so 378 00:19:56,880 --> 00:20:00,119 Speaker 1: many ways that people view it. People think Wimbledon, Ah, 379 00:20:00,200 --> 00:20:02,960 Speaker 1: that's the greatest. People think the US Open. Oh, that's 380 00:20:03,000 --> 00:20:05,919 Speaker 1: the greatest. So I'm gonna ask you with thoughts on that. Sure, Uh, 381 00:20:06,600 --> 00:20:09,280 Speaker 1: you know, it's it. It comes up quite a bit. 382 00:20:09,359 --> 00:20:11,720 Speaker 1: And I think, what's what's unique about tennis because the 383 00:20:11,760 --> 00:20:14,879 Speaker 1: court dimensions don't change like a golf course might or 384 00:20:15,080 --> 00:20:19,320 Speaker 1: uh or a baseball field, um might. The surfaces can 385 00:20:19,440 --> 00:20:22,200 Speaker 1: can vary, obviously grass and and clay. But I think 386 00:20:22,240 --> 00:20:25,040 Speaker 1: what's great about tennis and tennis at the Grand Slam 387 00:20:25,119 --> 00:20:28,800 Speaker 1: level is all four Slams have very different personalities. We 388 00:20:28,880 --> 00:20:32,119 Speaker 1: are the spectacular Slam, There's no doubt about. We are bigger, 389 00:20:32,119 --> 00:20:35,800 Speaker 1: we are louder, We are bolder than anything else in tennis. 390 00:20:35,800 --> 00:20:39,000 Speaker 1: We we drive. Our energy is derived from New York 391 00:20:39,080 --> 00:20:41,359 Speaker 1: two am on a weeknight, doesn't matter. People want to 392 00:20:41,359 --> 00:20:44,239 Speaker 1: be it is Wall Street meets Hollywood. All of that 393 00:20:44,320 --> 00:20:46,880 Speaker 1: happens at the US Open, there's nothing, There's nothing else 394 00:20:46,960 --> 00:20:51,040 Speaker 1: like it. What is so great about Wimbledon is the history, 395 00:20:51,320 --> 00:20:53,840 Speaker 1: um and and and they're able to to play to 396 00:20:53,960 --> 00:20:57,800 Speaker 1: that history, and they do a beautiful job communicating the brand. 397 00:20:57,880 --> 00:21:00,040 Speaker 1: And if you go on site and experience it, you 398 00:21:00,400 --> 00:21:04,200 Speaker 1: feel like you're in the cathedral of the sport. If 399 00:21:04,240 --> 00:21:07,959 Speaker 1: you're a player, you might have a different interpretation. So 400 00:21:08,000 --> 00:21:11,959 Speaker 1: as a player, Uh, some might say that Wimbledon trophy 401 00:21:12,000 --> 00:21:17,479 Speaker 1: for me is the most coveted title in in our sport. 402 00:21:17,960 --> 00:21:20,320 Speaker 1: At the same time, they will also say walking out 403 00:21:20,359 --> 00:21:23,760 Speaker 1: into Arthur Ashe for a night match is the grandest 404 00:21:23,800 --> 00:21:27,760 Speaker 1: stage that exists in tennis. Twenty five thousand fans night tennis. 405 00:21:28,000 --> 00:21:30,400 Speaker 1: There's nothing like it in our in our game, which 406 00:21:30,400 --> 00:21:32,879 Speaker 1: tends to be more more intimate. Uh. And they will 407 00:21:32,920 --> 00:21:36,240 Speaker 1: tell you they would never trade that experience. Uh. So 408 00:21:36,320 --> 00:21:40,280 Speaker 1: it it it's really to your liking. We're talking with 409 00:21:40,359 --> 00:21:43,560 Speaker 1: Louis Sherry with the U s t A and what 410 00:21:43,760 --> 00:21:46,359 Speaker 1: I guess that bring up another point is very easy 411 00:21:46,400 --> 00:21:50,760 Speaker 1: to get televised viewership for the US Open, for Wimbledon 412 00:21:50,880 --> 00:21:53,040 Speaker 1: and the other Grand Slams, and how he just dismissed 413 00:21:53,480 --> 00:21:58,280 Speaker 1: how hard it is to make these eyeballs happen in tennis. 414 00:21:58,320 --> 00:22:03,960 Speaker 1: No one SEESPN now people eleven is But when you 415 00:22:04,000 --> 00:22:07,680 Speaker 1: get down to like, you know, the Spaghettios open man people, 416 00:22:08,400 --> 00:22:10,119 Speaker 1: how do you get people? You know? You know what 417 00:22:10,160 --> 00:22:11,879 Speaker 1: I used to watch coming into the US Open. When 418 00:22:11,920 --> 00:22:13,840 Speaker 1: I knew it was like the U s Open was coming, 419 00:22:14,080 --> 00:22:16,480 Speaker 1: there was an old tournament called the Hamlet Challenge Cup 420 00:22:17,520 --> 00:22:21,719 Speaker 1: on Long Island. I I sat behind sheryld Tis watching 421 00:22:21,720 --> 00:22:25,160 Speaker 1: Ellie Nastasi play. I mean, now I'm old man bar. 422 00:22:26,119 --> 00:22:28,320 Speaker 1: That's how I knew it was coming, But I didn't 423 00:22:28,359 --> 00:22:33,080 Speaker 1: see much of the match by the one I was ten. 424 00:22:33,600 --> 00:22:38,399 Speaker 1: That's gonna expand you're gonna see more televised tournaments on 425 00:22:38,560 --> 00:22:42,280 Speaker 1: the lower level as we expand, because you can stream 426 00:22:42,400 --> 00:22:45,600 Speaker 1: and any tennis fan who has to get that jone, 427 00:22:45,840 --> 00:22:47,560 Speaker 1: can I jump into Can I jump in here and 428 00:22:47,920 --> 00:22:51,479 Speaker 1: you comment on this place when sport Radar and we're 429 00:22:51,520 --> 00:22:54,080 Speaker 1: gonna have Carston call on the CEO on the program 430 00:22:54,080 --> 00:22:58,960 Speaker 1: coming up. When sport Radar signed its International Tennis Federation deal, 431 00:22:59,520 --> 00:23:03,160 Speaker 1: that was about betting. That was all about live events 432 00:23:03,240 --> 00:23:06,240 Speaker 1: in many time zones because the betting houses need live events. 433 00:23:06,240 --> 00:23:09,000 Speaker 1: That's what keeps people on the platform? Yeah, what are 434 00:23:09,000 --> 00:23:10,960 Speaker 1: we going to see at the US Open in a 435 00:23:11,040 --> 00:23:15,320 Speaker 1: legalized sports I'll address that question in in two parts. 436 00:23:15,400 --> 00:23:18,720 Speaker 1: So you're right, Um, tennis I think might be the 437 00:23:18,880 --> 00:23:22,240 Speaker 1: second most wagered on sport on the planet. That will 438 00:23:22,280 --> 00:23:24,840 Speaker 1: surprise everybody here in the US. But but from a 439 00:23:24,840 --> 00:23:29,040 Speaker 1: global standpoint it shouldn't. Tennis is popularity around the world, 440 00:23:29,240 --> 00:23:31,520 Speaker 1: no matter where you are, is either second or third 441 00:23:31,720 --> 00:23:34,480 Speaker 1: most popular sport in in any country. Right, the US 442 00:23:34,600 --> 00:23:36,879 Speaker 1: is set up a little differently with our sort of 443 00:23:36,880 --> 00:23:39,080 Speaker 1: four major sports. Get to seventeen year olds playing in 444 00:23:39,119 --> 00:23:42,719 Speaker 1: Koala Lympur, that's a live event, and and tennis has 445 00:23:42,760 --> 00:23:45,840 Speaker 1: played every day. It is played weekdays, it is played 446 00:23:45,920 --> 00:23:48,080 Speaker 1: during the day, right, It's not a couple of times 447 00:23:48,080 --> 00:23:50,920 Speaker 1: a week and and weekends and those sorts of things. 448 00:23:51,080 --> 00:23:53,439 Speaker 1: So as a result, uh, there is a lot of 449 00:23:53,520 --> 00:23:58,240 Speaker 1: volume their opportunities for for the gaming houses. Um. Wagering 450 00:23:58,240 --> 00:24:00,960 Speaker 1: in tennis is nothing new to us, even though it 451 00:24:01,040 --> 00:24:03,000 Speaker 1: is the talk of of the sports industry in the 452 00:24:03,119 --> 00:24:06,560 Speaker 1: United States right now. Tennis has existed in in a 453 00:24:06,680 --> 00:24:08,919 Speaker 1: in a wagering world for years and years and years 454 00:24:08,960 --> 00:24:12,480 Speaker 1: around the globe. The US was the exception, but wagering 455 00:24:12,520 --> 00:24:16,120 Speaker 1: on tennis gaming gambling on tennis has existed. People are 456 00:24:16,119 --> 00:24:17,560 Speaker 1: gonna he I'm gonna go far away from the mic, 457 00:24:17,600 --> 00:24:21,280 Speaker 1: I'm getting closer to you. I don't see you salivating 458 00:24:22,280 --> 00:24:24,840 Speaker 1: the revenue opportunities. I know it's not legal in New 459 00:24:24,880 --> 00:24:27,439 Speaker 1: York yet, but as the chief Revenue Officer of the 460 00:24:27,520 --> 00:24:31,960 Speaker 1: U s t A, I would see there's an opportunity. 461 00:24:32,080 --> 00:24:36,360 Speaker 1: So my peer group UM at properties around the around 462 00:24:36,359 --> 00:24:40,280 Speaker 1: the country are absolutely salivating. They're salivating it at two 463 00:24:40,320 --> 00:24:43,520 Speaker 1: areas of of of wagering right there. They're salivating at 464 00:24:43,520 --> 00:24:48,240 Speaker 1: the opportunity to maybe get a percentage or something over 465 00:24:48,320 --> 00:24:51,080 Speaker 1: the top or off the top on on gambling. And 466 00:24:51,119 --> 00:24:53,919 Speaker 1: they're just taking place. And they're also now rapidly signing 467 00:24:53,960 --> 00:24:57,679 Speaker 1: sponsorship deals with gaming houses. The William Hills of the World, 468 00:24:57,800 --> 00:25:01,840 Speaker 1: MGM and the NBA just announced a partnership for sponsorship dollars. 469 00:25:02,240 --> 00:25:04,080 Speaker 1: By the way, that was really that was really only 470 00:25:04,119 --> 00:25:09,240 Speaker 1: for the right to use logo right, a designation and 471 00:25:09,280 --> 00:25:13,080 Speaker 1: the and the data UM for us right, I mentioned 472 00:25:13,320 --> 00:25:15,280 Speaker 1: this is nothing new to us. This is this is 473 00:25:15,320 --> 00:25:17,240 Speaker 1: now the US, but the rest of the world has 474 00:25:17,280 --> 00:25:20,639 Speaker 1: already been there. So we've participated in this industry for 475 00:25:20,720 --> 00:25:23,399 Speaker 1: quite some time. So the incremental lift for us because 476 00:25:23,440 --> 00:25:25,719 Speaker 1: of tennis wagering in the U s which is happening 477 00:25:25,760 --> 00:25:28,879 Speaker 1: state by state, is not nearly what it will be 478 00:25:28,960 --> 00:25:32,240 Speaker 1: I think, um for the domestic properties that have never 479 00:25:32,280 --> 00:25:36,000 Speaker 1: had the opportunity to participate in that to begin with. Additionally, though, 480 00:25:36,000 --> 00:25:39,720 Speaker 1: in very important we're years ahead in this category. UM. 481 00:25:39,760 --> 00:25:43,560 Speaker 1: We've just had a thorough review that started two years ago, 482 00:25:44,040 --> 00:25:48,440 Speaker 1: the results of which were released several months back on 483 00:25:48,720 --> 00:25:51,720 Speaker 1: gaming in our sport, and there were some very specific 484 00:25:51,760 --> 00:25:54,560 Speaker 1: recommendations made that we have agreed to follow. All of 485 00:25:54,560 --> 00:25:57,480 Speaker 1: the tennis bodies have agreed to follow, one of which 486 00:25:57,560 --> 00:26:01,679 Speaker 1: is no sponsorships allowed from those gaming institutions, so we 487 00:26:01,720 --> 00:26:04,440 Speaker 1: don't have the opportunity. You won't see us doing those 488 00:26:04,480 --> 00:26:07,480 Speaker 1: deals that everyone else is doing. And secondly, you're going 489 00:26:07,520 --> 00:26:10,720 Speaker 1: to see a revision of the sport at the lower 490 00:26:10,800 --> 00:26:16,119 Speaker 1: levels that will prohibit wagering on matches and tournaments below 491 00:26:16,160 --> 00:26:20,480 Speaker 1: a certain level, and that was concern. You might have 492 00:26:20,520 --> 00:26:22,439 Speaker 1: a match where the prize money is a hundred and 493 00:26:22,440 --> 00:26:25,479 Speaker 1: twenty six dollars if you win that match versus losing, 494 00:26:25,800 --> 00:26:29,240 Speaker 1: yet someone might offer you five thousand dollars uh to 495 00:26:29,520 --> 00:26:32,840 Speaker 1: tank a game or on a point because you can 496 00:26:32,840 --> 00:26:35,399 Speaker 1: bet point by point may not change the outcome of 497 00:26:35,440 --> 00:26:39,960 Speaker 1: the match. But so we're eliminating we're eliminating wagering at 498 00:26:40,000 --> 00:26:42,359 Speaker 1: that level, and below we won't be supplying data, or 499 00:26:42,400 --> 00:26:44,359 Speaker 1: I shouldn't say we the I t F won't be 500 00:26:44,359 --> 00:26:47,719 Speaker 1: supplying data on matches below that level. And the idea 501 00:26:47,880 --> 00:26:50,680 Speaker 1: is where where what we've learned is when the revenues 502 00:26:50,720 --> 00:26:53,320 Speaker 1: get to a certain point, it's much less of a threat. 503 00:26:53,359 --> 00:26:55,960 Speaker 1: You really don't see it at big tournaments, certainly not 504 00:26:56,080 --> 00:26:58,840 Speaker 1: at at Slams. It was really it was happening at 505 00:26:58,840 --> 00:27:00,760 Speaker 1: the lowest levels of the game where there wasn't an 506 00:27:00,800 --> 00:27:02,879 Speaker 1: opportunity to earn an income. But that's what I was 507 00:27:02,880 --> 00:27:04,840 Speaker 1: getting at earlier. It's like when you get to those 508 00:27:04,880 --> 00:27:10,240 Speaker 1: lower level matches and they being streamed all around, those 509 00:27:10,280 --> 00:27:12,520 Speaker 1: are the ones where you had those problems when and 510 00:27:12,560 --> 00:27:14,280 Speaker 1: I guess it comes to the point someone I forgot 511 00:27:14,320 --> 00:27:16,679 Speaker 1: who said it, where if you have some sort of 512 00:27:16,720 --> 00:27:21,600 Speaker 1: a software where if you see some unusual activity, just 513 00:27:21,720 --> 00:27:24,240 Speaker 1: like it would be for legal activity on Wall Street, 514 00:27:24,480 --> 00:27:27,520 Speaker 1: if you see unusual action on a match, you can 515 00:27:27,520 --> 00:27:31,040 Speaker 1: identify and that is happening. There is a Tennis integrity 516 00:27:31,119 --> 00:27:34,200 Speaker 1: unit that is doing that, and then UM at our event, 517 00:27:34,480 --> 00:27:36,840 Speaker 1: we supplement that UH and we have a team that 518 00:27:36,880 --> 00:27:40,000 Speaker 1: are tracking and are in conversations with UH with the 519 00:27:40,040 --> 00:27:44,280 Speaker 1: gaming houses to make sure that there is no UM 520 00:27:44,480 --> 00:27:48,679 Speaker 1: unusual sort of activity from a gaming standpoint. UM. So 521 00:27:48,760 --> 00:27:51,359 Speaker 1: we we monitored that very closely. We felt good about 522 00:27:51,400 --> 00:27:55,280 Speaker 1: the results of the review because it did essentially say 523 00:27:55,400 --> 00:27:58,720 Speaker 1: it's not it hasn't been an issue UH from my UH, 524 00:27:58,760 --> 00:28:01,080 Speaker 1: from my friends in the US, I think the bigger 525 00:28:01,119 --> 00:28:06,119 Speaker 1: issues will be sports and gambling where players aren't necessarily 526 00:28:06,160 --> 00:28:08,800 Speaker 1: making what they make in the NBA or the NFL, 527 00:28:08,880 --> 00:28:11,640 Speaker 1: So what are you doing? What do you do in college? 528 00:28:11,680 --> 00:28:13,560 Speaker 1: What do you do in the in the G league? 529 00:28:13,800 --> 00:28:16,840 Speaker 1: Those sorts of things where maybe the income opportunities aren't 530 00:28:17,320 --> 00:28:19,960 Speaker 1: what you'd like them to be for everybody, And then 531 00:28:20,480 --> 00:28:22,240 Speaker 1: I think that's where you're gonna have to pay a 532 00:28:22,240 --> 00:28:24,680 Speaker 1: lot of it. What's the thinking behind no sponsorship from 533 00:28:24,680 --> 00:28:27,639 Speaker 1: gaming houses? You're you're out there talking with the biggest 534 00:28:27,640 --> 00:28:30,119 Speaker 1: brands in the world, why not a William Hill we 535 00:28:30,160 --> 00:28:33,160 Speaker 1: are The recommendation that came back from this UH this 536 00:28:33,240 --> 00:28:38,120 Speaker 1: independent review panel was that promoting gaming, it's one thing 537 00:28:38,160 --> 00:28:41,280 Speaker 1: to provide data and ensure the integrity of that data, 538 00:28:41,880 --> 00:28:46,040 Speaker 1: which is what typically we're doing. Different story to openly 539 00:28:46,160 --> 00:28:51,440 Speaker 1: promote wagering through and use our platforms to it's a 540 00:28:51,440 --> 00:28:55,000 Speaker 1: big I roll from me, bar roll and and to 541 00:28:55,080 --> 00:28:57,920 Speaker 1: have that. We only have about a minute and a half. 542 00:28:58,120 --> 00:29:01,360 Speaker 1: We got to touch on on the roof the two roofs, 543 00:29:01,800 --> 00:29:04,640 Speaker 1: but ash was done armstrong. Now when they come to 544 00:29:04,640 --> 00:29:06,880 Speaker 1: you and say we need to pay for this, you 545 00:29:06,960 --> 00:29:12,560 Speaker 1: say what, Well, chief revenue officers, I had asked, is 546 00:29:12,560 --> 00:29:15,360 Speaker 1: there a chief spending officer title available? Because that seems 547 00:29:15,400 --> 00:29:20,360 Speaker 1: like can't We've not had trouble spending it um. Thankfully, 548 00:29:20,400 --> 00:29:23,800 Speaker 1: we've been able to grow our event financially on on 549 00:29:23,840 --> 00:29:27,200 Speaker 1: all of our lines of business. So our our sponsorship 550 00:29:27,240 --> 00:29:29,600 Speaker 1: line has grown dramatically over the past few years. Our 551 00:29:29,640 --> 00:29:33,200 Speaker 1: ticketing business continues to be incredibly strong, and we've introduced 552 00:29:33,240 --> 00:29:35,360 Speaker 1: new premium products that have helped us do that. It 553 00:29:36,800 --> 00:29:41,080 Speaker 1: that it as well. But you know what, UM, yes 554 00:29:41,120 --> 00:29:44,000 Speaker 1: and no uh. If you want the most premium experience 555 00:29:44,000 --> 00:29:45,880 Speaker 1: at the Open, which I would argue maybe the most 556 00:29:45,880 --> 00:29:49,720 Speaker 1: premium experience in all of professional sports, it can be 557 00:29:49,800 --> 00:29:52,840 Speaker 1: quite expensive. At the same time, because of our mission 558 00:29:53,120 --> 00:29:56,160 Speaker 1: access is important. There are thirty dollar tickets, you have 559 00:29:56,240 --> 00:29:58,880 Speaker 1: access to seventeen courts, you can sit in the front row. 560 00:29:59,520 --> 00:30:01,960 Speaker 1: Last year we took a significant increase in our ticket 561 00:30:02,000 --> 00:30:04,440 Speaker 1: prices on the lower levels. At the same time, we 562 00:30:04,520 --> 00:30:07,840 Speaker 1: dropped pricing on of the seats in the building, and 563 00:30:07,840 --> 00:30:10,120 Speaker 1: those were seats that we were selling. And that's us 564 00:30:10,160 --> 00:30:13,400 Speaker 1: trying to balance the middle water. How much does it want? 565 00:30:13,520 --> 00:30:17,120 Speaker 1: I would guess seven or eight dollars. You can find 566 00:30:17,160 --> 00:30:21,080 Speaker 1: waters as well. I gotta ask quickly about Fan Week, 567 00:30:21,120 --> 00:30:23,440 Speaker 1: can you expand all that? Yeah? No, thank you. Um. 568 00:30:23,480 --> 00:30:25,400 Speaker 1: This year is a big year for us. Not only 569 00:30:25,480 --> 00:30:27,880 Speaker 1: is it the cap stone on a five year transformation 570 00:30:28,200 --> 00:30:30,920 Speaker 1: and the new Louis Armstrong kicking in, it's the fiftieth 571 00:30:30,920 --> 00:30:34,760 Speaker 1: anniversary and we will be operating a six day Fan 572 00:30:34,840 --> 00:30:38,120 Speaker 1: Week festival both in Queens and here in New York. 573 00:30:38,200 --> 00:30:40,440 Speaker 1: For for two days, fans will be able to come 574 00:30:40,480 --> 00:30:43,200 Speaker 1: on site free of charge. Not only will be will 575 00:30:43,280 --> 00:30:45,960 Speaker 1: we be staging the qualifying tournament, which is the fifth 576 00:30:46,080 --> 00:30:49,040 Speaker 1: largest prize money tournament in the US for those last 577 00:30:49,040 --> 00:30:51,520 Speaker 1: players trying to earn their way into the main draw field, 578 00:30:51,840 --> 00:30:54,240 Speaker 1: but we will have the biggest names in tennis conducting 579 00:30:54,280 --> 00:30:57,960 Speaker 1: open practices on our grand stand court, which seats a thousand, 580 00:30:58,120 --> 00:31:00,600 Speaker 1: will be able to promote those come out and Serena 581 00:31:00,960 --> 00:31:04,120 Speaker 1: or a Roger or a Rafa watch them practice. We're 582 00:31:04,120 --> 00:31:06,680 Speaker 1: taking our Legends tournament, which used to be played at 583 00:31:06,680 --> 00:31:08,680 Speaker 1: the back end of the main draw in week two, 584 00:31:09,080 --> 00:31:11,280 Speaker 1: We're now moving that into fan weeks. Are some of 585 00:31:11,360 --> 00:31:14,560 Speaker 1: the biggest names in tennis history. McEnroe for example, Chang 586 00:31:15,160 --> 00:31:19,280 Speaker 1: h Lindsay Davenport, others will be participating in exhibition matches 587 00:31:19,360 --> 00:31:22,320 Speaker 1: during that week. UM. We will have player appearances here 588 00:31:22,320 --> 00:31:24,960 Speaker 1: in New York City at Brookfield Place, a live draw 589 00:31:25,080 --> 00:31:29,280 Speaker 1: unveiling with Nadal and Sloan Stevens both UM, all of 590 00:31:29,320 --> 00:31:32,320 Speaker 1: which designed to allow fans to get closer to the 591 00:31:32,400 --> 00:31:36,440 Speaker 1: players than they could ever imagine in a more relaxed environment. 592 00:31:36,440 --> 00:31:39,800 Speaker 1: The grounds will be open. It's a festival setting, great food, 593 00:31:40,160 --> 00:31:43,160 Speaker 1: lots of activities, great for kids, all free of charge. 594 00:31:43,400 --> 00:31:46,600 Speaker 1: And once again that's us balancing our mission. The mission 595 00:31:46,640 --> 00:31:48,600 Speaker 1: is to inspire a love of the game, and we 596 00:31:48,640 --> 00:31:51,640 Speaker 1: don't want anyone to be denied the opportunity to do 597 00:31:51,680 --> 00:31:53,960 Speaker 1: that we sell all of the tickets we can make 598 00:31:53,960 --> 00:31:56,480 Speaker 1: available in the main draw. So this is an opportunity 599 00:31:56,480 --> 00:31:58,160 Speaker 1: for us to grow that. You know, I do have 600 00:31:58,200 --> 00:31:59,600 Speaker 1: to get to this. You know who I always see 601 00:31:59,600 --> 00:32:03,080 Speaker 1: at the and I used to see the president. Any 602 00:32:03,120 --> 00:32:05,280 Speaker 1: word on whether the president might be coming, I don't 603 00:32:05,280 --> 00:32:08,240 Speaker 1: expect that to be the case. The president had a 604 00:32:08,360 --> 00:32:12,240 Speaker 1: UM had a suite or his organizations real estate organization 605 00:32:12,280 --> 00:32:14,800 Speaker 1: had a suite at the US open Um that's been 606 00:32:14,840 --> 00:32:17,200 Speaker 1: suspended while he's in office. That was that was at 607 00:32:17,240 --> 00:32:19,760 Speaker 1: their request. UM. So I don't, I don't. I'm not 608 00:32:19,800 --> 00:32:22,400 Speaker 1: aware of any reports presidents and typically we don't promote 609 00:32:22,440 --> 00:32:25,640 Speaker 1: those in advance, but um, but certainly Bill Clinton has 610 00:32:25,680 --> 00:32:29,840 Speaker 1: been there in the past. Uh. Uh. Michelle Obama was 611 00:32:29,840 --> 00:32:33,080 Speaker 1: was a frequent guest, and uh it should be a 612 00:32:33,080 --> 00:32:35,440 Speaker 1: great one. When I was a CUB reporter, I was covering. 613 00:32:35,480 --> 00:32:37,200 Speaker 1: One of the first things I ever did was covered 614 00:32:37,200 --> 00:32:40,000 Speaker 1: the open and back then it wasn't little digital records. 615 00:32:40,040 --> 00:32:42,400 Speaker 1: I had a big pack and I went down to 616 00:32:42,440 --> 00:32:45,480 Speaker 1: talk to the tennis mayor, David Dinkins, and I must 617 00:32:45,520 --> 00:32:47,840 Speaker 1: have taken the bag off my back and I ran 618 00:32:49,160 --> 00:32:51,720 Speaker 1: on the Grand Central. I realized I forgot the bag. 619 00:32:51,760 --> 00:32:56,440 Speaker 1: I turned around, I zipped back. I get there, and 620 00:32:56,920 --> 00:32:59,080 Speaker 1: of course I guess that it caused a bit of 621 00:32:59,120 --> 00:33:01,800 Speaker 1: a hubbub when you leave a black bag next the 622 00:33:01,840 --> 00:33:04,280 Speaker 1: mayor's box. And let's just say, I got scolded by 623 00:33:04,320 --> 00:33:07,120 Speaker 1: security and the openly I'm sorry. I didn't mean to leave. 624 00:33:07,240 --> 00:33:10,280 Speaker 1: It was an am here. They had to quietly get 625 00:33:10,280 --> 00:33:15,360 Speaker 1: it out of there, like I'm sorry. So so priority 626 00:33:15,440 --> 00:33:18,280 Speaker 1: number one every year is is security at the UH 627 00:33:18,640 --> 00:33:21,760 Speaker 1: at the open and our team does a tremendous job. 628 00:33:23,800 --> 00:33:28,520 Speaker 1: And I can't believe nineteen Yes, wow, Arthur Rash and 629 00:33:28,600 --> 00:33:32,960 Speaker 1: Virginia right with the first one. Oh LUI share with 630 00:33:33,040 --> 00:33:34,800 Speaker 1: the U s t A thank you so much, sir. 631 00:33:35,000 --> 00:33:38,280 Speaker 1: And it goes by so quick movement, especially when they're here. 632 00:33:39,000 --> 00:33:41,240 Speaker 1: These shows are that's what we love. We're having a 633 00:33:41,240 --> 00:33:43,560 Speaker 1: good time the time. Plus, I've enjoyed it very much. 634 00:33:43,560 --> 00:33:48,760 Speaker 1: We appreciate the opportunity. Takeaways from the interview, I'm impressed 635 00:33:48,880 --> 00:33:53,200 Speaker 1: that tennis has grown to where it is now. But 636 00:33:54,040 --> 00:33:57,560 Speaker 1: Lu did make the point that, yes, Serena Williams is 637 00:33:57,640 --> 00:34:00,920 Speaker 1: huge to this sport, and I just under just in 638 00:34:01,000 --> 00:34:04,160 Speaker 1: my own little pete brain, what happens when Serena leaves 639 00:34:04,160 --> 00:34:07,000 Speaker 1: the sport Well, he also mentioned and if you've been 640 00:34:07,040 --> 00:34:10,359 Speaker 1: out there, you know that this is an event. This 641 00:34:10,600 --> 00:34:12,600 Speaker 1: is the media. Money is going to be there. Now, 642 00:34:12,640 --> 00:34:14,600 Speaker 1: it's how do you drive folks there? And they've got 643 00:34:14,600 --> 00:34:17,400 Speaker 1: record attendance recently. You got to make sure you do that. 644 00:34:17,440 --> 00:34:20,279 Speaker 1: You have a great investment in the new coverings. Of 645 00:34:20,320 --> 00:34:23,560 Speaker 1: course at Ashton Armstrong sunk a lot of money into it. 646 00:34:23,600 --> 00:34:26,560 Speaker 1: You need to make sure that those courts are filled. 647 00:34:27,480 --> 00:34:29,400 Speaker 1: And I don't see the big event feel of this 648 00:34:29,440 --> 00:34:33,319 Speaker 1: thing going away. My wife, who led me astray last 649 00:34:33,320 --> 00:34:36,719 Speaker 1: week with where you know, she's already on me. Can 650 00:34:36,760 --> 00:34:38,799 Speaker 1: you get tickets for the Open? I want to go? 651 00:34:38,920 --> 00:34:40,640 Speaker 1: And then you know, you don't even have to ask 652 00:34:40,680 --> 00:34:42,040 Speaker 1: my wife, by the way, do you want to go 653 00:34:42,080 --> 00:34:44,000 Speaker 1: with the first week or do you want to go 654 00:34:44,040 --> 00:34:46,560 Speaker 1: to the second week? You know, it's kind of like, um, 655 00:34:46,600 --> 00:34:49,320 Speaker 1: I want to see Federer maybe on at night. You 656 00:34:49,400 --> 00:34:51,600 Speaker 1: know that that like, well, you don't know when they're playing. 657 00:34:51,640 --> 00:34:53,560 Speaker 1: That's not how it works. You don't get a schedule. 658 00:34:53,920 --> 00:34:57,680 Speaker 1: I don't know when. Yeah, while you're there, get me 659 00:34:57,680 --> 00:35:01,360 Speaker 1: the clubs. It does, so this still has big event feel. 660 00:35:02,000 --> 00:35:05,880 Speaker 1: And the U s t A Does done does It's 661 00:35:05,960 --> 00:35:09,560 Speaker 1: darn to maximize the dollars, because, as we've explained in 662 00:35:09,560 --> 00:35:12,760 Speaker 1: this show, it's not just about that event. It's about 663 00:35:12,800 --> 00:35:18,200 Speaker 1: a broad based community of tennis. This is not just 664 00:35:18,400 --> 00:35:23,400 Speaker 1: a one off offering. It feels better to be a 665 00:35:23,480 --> 00:35:25,520 Speaker 1: number one than number five. I'll wear a number because 666 00:35:25,520 --> 00:35:27,080 Speaker 1: of Mike. We have a chance to go for three 667 00:35:27,080 --> 00:35:28,680 Speaker 1: in a row. Kids numbers in a good time, and 668 00:35:28,760 --> 00:35:30,800 Speaker 1: let's first started wearing the number. I would just have 669 00:35:30,960 --> 00:35:34,800 Speaker 1: the floomberg business of sports. The number of the week. 670 00:35:36,120 --> 00:35:38,880 Speaker 1: Time Now for the number of the week, the number, 671 00:35:38,920 --> 00:35:43,960 Speaker 1: Scott yes, is one hundred twenty five. One of those 672 00:35:44,000 --> 00:35:47,880 Speaker 1: weeks we did not discuss one hundred and twenty five. 673 00:35:49,680 --> 00:35:52,799 Speaker 1: Do nothing coming to mind? Would you like one of 674 00:35:52,840 --> 00:35:59,200 Speaker 1: the pass words golf, golf at they're they're sharing nine 675 00:35:59,280 --> 00:36:04,120 Speaker 1: million with the Fill and Tiger. Well, what was Well 676 00:36:04,200 --> 00:36:07,520 Speaker 1: it's going on right now, we're talking about the fed 677 00:36:07,560 --> 00:36:10,360 Speaker 1: Ex playoffs. Oh my lord, look at you. We start 678 00:36:10,400 --> 00:36:13,759 Speaker 1: with a field of a hut that point they start 679 00:36:13,800 --> 00:36:16,759 Speaker 1: off all this week they're playing in New Jersey, and 680 00:36:16,800 --> 00:36:19,919 Speaker 1: then they'll cut it down. Then they'll go to the 681 00:36:19,960 --> 00:36:24,160 Speaker 1: top one hundred points leaders, and then after that it 682 00:36:24,200 --> 00:36:26,520 Speaker 1: whittles down. Bottom line is ittle, whittle down to the 683 00:36:26,520 --> 00:36:29,759 Speaker 1: top is designed to generate interest and buzz and keep 684 00:36:29,800 --> 00:36:31,480 Speaker 1: things going later in the season. Is it doing that 685 00:36:31,520 --> 00:36:34,680 Speaker 1: for your bar? Hey? Sixty four million dollars in play? 686 00:36:34,840 --> 00:36:39,080 Speaker 1: I think it's a way. Oh well, probably just you know, 687 00:36:39,400 --> 00:36:41,600 Speaker 1: a bunch of popcorn and watching it in front of TV. 688 00:36:41,719 --> 00:36:44,480 Speaker 1: That's a but you deserve some more. You keep been 689 00:36:44,560 --> 00:36:47,719 Speaker 1: listening to the Bloomberg Business of Sports. We're here each 690 00:36:47,760 --> 00:36:50,120 Speaker 1: and every week and we mean it at the same time, 691 00:36:50,200 --> 00:36:53,520 Speaker 1: plus online as an Apple podcast. You can catch that Monday's, 692 00:36:53,520 --> 00:36:56,560 Speaker 1: Wednesdays and Thursdays. I'm Michael Bar on Twitter at Big 693 00:36:56,560 --> 00:36:59,320 Speaker 1: Bar Sports Big Bart. I'm Scott Snick. You can follow 694 00:36:59,320 --> 00:37:02,160 Speaker 1: me on Twitter, ask and thanks for joining us. Please 695 00:37:02,160 --> 00:37:03,920 Speaker 1: tune in next week when we speak with the biggest 696 00:37:03,960 --> 00:37:06,799 Speaker 1: and brightest in the sports business industry. Learned to You're 697 00:37:06,800 --> 00:37:10,360 Speaker 1: listening to Bloomberg Business of Sports from Bloomberg Radio around 698 00:37:10,360 --> 00:37:12,920 Speaker 1: the world and online as an Apple podcast all night