1 00:00:00,600 --> 00:00:02,840 Speaker 1: This is the Bloomberg Business of Sports show where we 2 00:00:02,880 --> 00:00:05,000 Speaker 1: explore the big money issues in the world of sports. 3 00:00:05,080 --> 00:00:08,160 Speaker 1: I'm Scarlett Foe and I'm Indian Sas hour, Michael Barr 4 00:00:08,320 --> 00:00:10,719 Speaker 1: is off today we have a great guest in studio. 5 00:00:10,800 --> 00:00:13,840 Speaker 1: So Michael, you miss out because Joe Mowgli is here. 6 00:00:13,880 --> 00:00:15,600 Speaker 1: There we go. Joe is a friend of the show. 7 00:00:15,640 --> 00:00:18,239 Speaker 1: He's back to help him. Excited to be here, Joe, 8 00:00:18,280 --> 00:00:20,319 Speaker 1: You're gonna get us ready for March Madness and for 9 00:00:20,520 --> 00:00:22,799 Speaker 1: our audience. Joe is the former Chairman of the board 10 00:00:22,840 --> 00:00:26,920 Speaker 1: and CEO at TD Ameritrade, which covers the business angle 11 00:00:27,000 --> 00:00:29,560 Speaker 1: in business of sports. And he was also the head 12 00:00:29,560 --> 00:00:33,839 Speaker 1: football coach at Coastal Carolina, which obviously covers the sports 13 00:00:33,920 --> 00:00:36,840 Speaker 1: in business of sports. And Joe Mowglia currently is chriff 14 00:00:36,880 --> 00:00:40,760 Speaker 1: Athletics at Coastal Carolina, an executive advisor to the president 15 00:00:40,880 --> 00:00:44,639 Speaker 1: at that institution, and coach. Mowglia has written a few 16 00:00:44,680 --> 00:00:47,320 Speaker 1: pieces lately about the state of the NCAA tournament and 17 00:00:47,400 --> 00:00:51,120 Speaker 1: his thoughts on NCAA leadership. With the former Massachusetts Governor 18 00:00:51,200 --> 00:00:54,200 Speaker 1: Charlie Baker stepping in as president, Let's get to it. 19 00:00:54,440 --> 00:00:57,520 Speaker 1: Coach Joe Mowglia. Thank you for joining us today, Scarlett. 20 00:00:57,520 --> 00:00:59,319 Speaker 1: I'm happy to be here. So you've written a couple 21 00:00:59,320 --> 00:01:01,920 Speaker 1: of pieces and you feel very strongly that the NCAA 22 00:01:02,400 --> 00:01:05,640 Speaker 1: needs the Power five, the top conferences in college football, 23 00:01:05,720 --> 00:01:09,240 Speaker 1: but you question whether the Power five need the NCAA 24 00:01:09,360 --> 00:01:12,360 Speaker 1: state your case, well, I think with regard to the 25 00:01:12,400 --> 00:01:15,080 Speaker 1: Power of five, I think that the most powerful thing 26 00:01:15,080 --> 00:01:18,080 Speaker 1: that winds up going on in college sports is what's 27 00:01:18,080 --> 00:01:20,880 Speaker 1: going on with regards to college football the FBS, the 28 00:01:20,959 --> 00:01:24,279 Speaker 1: FBS in general, but Power five specifically, and the amount 29 00:01:24,319 --> 00:01:27,160 Speaker 1: of money that's generated just from the TV contracts that 30 00:01:27,240 --> 00:01:30,760 Speaker 1: each of the five large conferences signed is gargantuan. I 31 00:01:30,760 --> 00:01:34,720 Speaker 1: mean literally gargantuan. For example, the Big Ten probably today. 32 00:01:34,800 --> 00:01:37,720 Speaker 1: Each team in the Big Ten last year received a 33 00:01:37,800 --> 00:01:41,080 Speaker 1: check for about seventy million dollars. That's true if your Rutgers, 34 00:01:41,120 --> 00:01:44,160 Speaker 1: it's true if you're Ohio State. Seventy million dollars once 35 00:01:44,200 --> 00:01:48,520 Speaker 1: a year, just for football. They renegotiated that with the 36 00:01:48,520 --> 00:01:52,000 Speaker 1: television contract at by twenty four, five, twenty six, that 37 00:01:52,080 --> 00:01:54,120 Speaker 1: number's going to be closer to one hundred million dollars. 38 00:01:54,120 --> 00:01:57,560 Speaker 1: This is just for football, not counting the college playoffs 39 00:01:57,640 --> 00:01:59,600 Speaker 1: or any of that. So from an NC Double A 40 00:01:59,640 --> 00:02:02,840 Speaker 1: perspect certainly they want to be as involved as they 41 00:02:02,880 --> 00:02:07,680 Speaker 1: can with regards to college football, especially Power five. But 42 00:02:07,760 --> 00:02:12,200 Speaker 1: with that amount of money, then the Power five schools 43 00:02:12,280 --> 00:02:15,040 Speaker 1: and FBS in general, but a Power five specifically does 44 00:02:15,120 --> 00:02:19,760 Speaker 1: not need it does not need the NBA, the uh if. 45 00:02:19,760 --> 00:02:22,239 Speaker 1: I can add to the point, I believe a couple 46 00:02:22,280 --> 00:02:24,560 Speaker 1: of years ago when the NIL was announced, it's the 47 00:02:24,560 --> 00:02:27,399 Speaker 1: most significant thing to happen in history of college sports 48 00:02:27,480 --> 00:02:32,079 Speaker 1: by far, and the NC Double A was nowhere, nowhere 49 00:02:32,120 --> 00:02:34,680 Speaker 1: to be found, and that that was pretty much it. 50 00:02:34,760 --> 00:02:36,720 Speaker 1: I think, I mean, to make that type of mistake 51 00:02:36,840 --> 00:02:39,120 Speaker 1: is one of the most horrific examples of leadership I 52 00:02:39,120 --> 00:02:43,680 Speaker 1: could possibly imagine. But that's also allowed college athletics to say, 53 00:02:43,680 --> 00:02:45,360 Speaker 1: you know what, we really don't need you that much, 54 00:02:45,600 --> 00:02:47,880 Speaker 1: especially when we've got that much money over here. So 55 00:02:47,919 --> 00:02:50,760 Speaker 1: that's kind of the backdrop. So Joe, I mean, so 56 00:02:51,120 --> 00:02:53,359 Speaker 1: Mark Emmert has left the NC Double A with a 57 00:02:53,440 --> 00:02:56,600 Speaker 1: credibility crisis. There's no question there. What does Charlie Baker 58 00:02:56,680 --> 00:02:59,440 Speaker 1: need to do to write the ship? I think I 59 00:02:59,480 --> 00:03:04,680 Speaker 1: think number one, I think Charlie's a politician, and I 60 00:03:04,680 --> 00:03:08,639 Speaker 1: can appreciate why he got the job. So I'm sure 61 00:03:08,720 --> 00:03:10,680 Speaker 1: he's up to speed in terms of everything that's going on. 62 00:03:10,720 --> 00:03:13,079 Speaker 1: I'm sure he's up to speed with regards to his challenges. 63 00:03:14,120 --> 00:03:15,840 Speaker 1: I have no doubt that his head is harder in 64 00:03:15,880 --> 00:03:17,480 Speaker 1: the right place in terms of next steps of what 65 00:03:17,520 --> 00:03:18,919 Speaker 1: they're going to try to do and the way they're 66 00:03:18,960 --> 00:03:21,640 Speaker 1: going to try to cultivate the Power five schools. But 67 00:03:21,720 --> 00:03:24,200 Speaker 1: the Power five schools, I have no doubt, will be very, 68 00:03:24,280 --> 00:03:26,440 Speaker 1: very polite. They will listen, frankly, but I think they're 69 00:03:26,440 --> 00:03:29,640 Speaker 1: gonna be passive aggressive. The Power five are not going 70 00:03:29,760 --> 00:03:33,680 Speaker 1: to do anything period unless it's in their best entrance. Now, 71 00:03:34,000 --> 00:03:37,920 Speaker 1: Charlie's a politician. If I'm a politician, well I'm not 72 00:03:38,000 --> 00:03:41,520 Speaker 1: a politician. So Charlie's a politician. Though he used to compromise, 73 00:03:42,200 --> 00:03:44,640 Speaker 1: He used to give and take, and a politician would 74 00:03:44,680 --> 00:03:46,920 Speaker 1: always put themselves if they saw what was going to 75 00:03:47,000 --> 00:03:48,800 Speaker 1: happen in the future, they would put themselves in the 76 00:03:48,800 --> 00:03:51,320 Speaker 1: best position to take advantage of that. I was actually 77 00:03:51,360 --> 00:03:53,880 Speaker 1: having I met the other day to talk about this 78 00:03:53,920 --> 00:03:58,440 Speaker 1: with the Night Commission, and they feel similarly. I would 79 00:03:58,480 --> 00:04:01,360 Speaker 1: recommend to Charlie that he anticipate this is going to happen, 80 00:04:01,760 --> 00:04:05,480 Speaker 1: and he gets ahead of it, and he actually suggests 81 00:04:06,040 --> 00:04:09,480 Speaker 1: to the ncable A that that Power five or FBS 82 00:04:09,520 --> 00:04:12,800 Speaker 1: should be separate from the ncuble A. They should they 83 00:04:12,840 --> 00:04:15,920 Speaker 1: should have their own self governing body and they and 84 00:04:15,920 --> 00:04:20,680 Speaker 1: they should run their operate their own operation by doing that. Yeah, 85 00:04:20,720 --> 00:04:22,880 Speaker 1: I mean, so they have their own executive committee. I 86 00:04:22,880 --> 00:04:27,320 Speaker 1: mean take us through that. What's the uh what what? What? 87 00:04:27,480 --> 00:04:29,560 Speaker 1: I what? I would In order for it to work, 88 00:04:29,960 --> 00:04:32,800 Speaker 1: they have to have their own executive committee. The executive 89 00:04:32,800 --> 00:04:34,600 Speaker 1: committee needs to be high. First of all, I think 90 00:04:34,600 --> 00:04:36,880 Speaker 1: there's got to be people that's not affiliated with a 91 00:04:36,960 --> 00:04:39,720 Speaker 1: particular school or a particular conference because they have too 92 00:04:39,800 --> 00:04:41,880 Speaker 1: much of a conflict of interest. But there are enough 93 00:04:41,920 --> 00:04:44,840 Speaker 1: really really talented people in the United States for the 94 00:04:45,360 --> 00:04:47,960 Speaker 1: for the college football to be able to find the 95 00:04:48,120 --> 00:04:50,640 Speaker 1: two or three people for an executive committee that they 96 00:04:50,760 --> 00:04:53,400 Speaker 1: really believe in that they hire, that they pay. But 97 00:04:53,520 --> 00:04:56,000 Speaker 1: what are those people have to be? The CEO? Right? 98 00:04:56,240 --> 00:04:59,880 Speaker 1: And the commitment then is that group has one response 99 00:05:00,000 --> 00:05:02,479 Speaker 1: ability to do whatever they believe is the best interest 100 00:05:02,640 --> 00:05:04,760 Speaker 1: of college football? Hold on is that is that going 101 00:05:04,800 --> 00:05:07,320 Speaker 1: to be the mandate? That's exactly where I'm going here, Joe, 102 00:05:07,520 --> 00:05:10,080 Speaker 1: is their mandate would it have to be to do 103 00:05:10,160 --> 00:05:13,120 Speaker 1: what's in the best interest of college football or in 104 00:05:13,200 --> 00:05:16,679 Speaker 1: the best interest of the university of the college institution itself, 105 00:05:16,720 --> 00:05:19,920 Speaker 1: which again is a institution of higher education first and 106 00:05:19,960 --> 00:05:21,720 Speaker 1: four of different things. Yeah, I mean, how do you 107 00:05:21,839 --> 00:05:24,400 Speaker 1: set the bar there? Like what is the mandate? You know? 108 00:05:24,560 --> 00:05:27,680 Speaker 1: Like and these schools all be on the same page. 109 00:05:27,720 --> 00:05:29,160 Speaker 1: I mean we're talking the Big Five. There's a lot 110 00:05:29,200 --> 00:05:32,400 Speaker 1: of different schools with yes, you know what I'm saying. Yes, So, Damian, 111 00:05:32,400 --> 00:05:34,760 Speaker 1: I think it's a great point. But I think, you know, frankly, 112 00:05:34,800 --> 00:05:36,680 Speaker 1: in any of these situations, I don't care what kind 113 00:05:36,720 --> 00:05:38,480 Speaker 1: of leader you are. You know, there's got to be 114 00:05:38,560 --> 00:05:40,400 Speaker 1: a balance, right, So you can't just come in I'm 115 00:05:40,400 --> 00:05:42,040 Speaker 1: going to take care of college football and I'm not 116 00:05:42,080 --> 00:05:43,800 Speaker 1: going to worry about the institute. You're not going to 117 00:05:43,839 --> 00:05:46,240 Speaker 1: get the job if that's your approach. So they're going 118 00:05:46,279 --> 00:05:49,120 Speaker 1: to expect what's the best of your college football as 119 00:05:49,200 --> 00:05:51,200 Speaker 1: long as it's also in the best interests of the 120 00:05:51,400 --> 00:05:55,320 Speaker 1: institutions relative to football, not the institution relative to any 121 00:05:55,360 --> 00:05:58,880 Speaker 1: other sport or anything else going on. So, so very 122 00:05:58,960 --> 00:06:01,520 Speaker 1: difficult it's a very difficult to mandate, right, I mean, 123 00:06:01,560 --> 00:06:03,240 Speaker 1: I guess this is also the problem, Like what's to 124 00:06:03,360 --> 00:06:08,080 Speaker 1: prevent that body from becoming another NC DOUBLEA in disguise. 125 00:06:09,520 --> 00:06:11,040 Speaker 1: I want to take a step back for a moment here. 126 00:06:11,120 --> 00:06:14,240 Speaker 1: We're talking about college football specifically. The NCAA seems to 127 00:06:14,320 --> 00:06:17,120 Speaker 1: work pretty well when it comes to college basketball, but 128 00:06:17,440 --> 00:06:20,560 Speaker 1: I don't see NCUBA anywhere when it comes to college football. 129 00:06:20,920 --> 00:06:23,200 Speaker 1: Can you just walk me through why that's the case, 130 00:06:23,360 --> 00:06:26,120 Speaker 1: why it's m ia in college football? Well, I think 131 00:06:26,120 --> 00:06:27,760 Speaker 1: as far as NC double A goes, they can't on 132 00:06:27,800 --> 00:06:30,839 Speaker 1: the expenses that they run. They run the NCAA tournament. 133 00:06:30,920 --> 00:06:33,400 Speaker 1: They run that so so that the NC double A 134 00:06:33,560 --> 00:06:37,040 Speaker 1: has far greater ownership and influence with regard to basketball 135 00:06:37,040 --> 00:06:39,479 Speaker 1: and frankly other sports than they do football. The reason 136 00:06:39,520 --> 00:06:41,560 Speaker 1: why they don't have football is because once the NIL 137 00:06:41,640 --> 00:06:44,320 Speaker 1: came up, they really divorce themselves. But even nil no 138 00:06:44,440 --> 00:06:46,560 Speaker 1: because of the money. It's all because of the money. 139 00:06:46,839 --> 00:06:49,480 Speaker 1: So a year, there's just so much bigger. Just walk 140 00:06:49,560 --> 00:06:53,840 Speaker 1: us through that. So I reference a minute ago how 141 00:06:53,960 --> 00:06:55,960 Speaker 1: much money that the Big ten is looking at with 142 00:06:56,000 --> 00:06:58,400 Speaker 1: regard to that that top of that you've got, you've 143 00:06:58,400 --> 00:07:01,120 Speaker 1: got college football playoffs. Yeah, which is a tremendous amount 144 00:07:01,120 --> 00:07:02,839 Speaker 1: of money as well, which is its own big thing, 145 00:07:03,040 --> 00:07:06,080 Speaker 1: don't think. But that's that's that that that's owned by football. Yeah, 146 00:07:06,120 --> 00:07:09,080 Speaker 1: that's all that's where to be found there. So so 147 00:07:09,360 --> 00:07:12,640 Speaker 1: if if the NC double A is not going to operate, 148 00:07:12,680 --> 00:07:14,560 Speaker 1: another reason they got to make a decision, and they 149 00:07:14,680 --> 00:07:15,960 Speaker 1: make it say, you know, we'd love to do that 150 00:07:16,080 --> 00:07:17,440 Speaker 1: for the power of five schools, but that's not in 151 00:07:17,480 --> 00:07:20,040 Speaker 1: the best centers of girls tennis. Well, that's not in 152 00:07:20,080 --> 00:07:22,760 Speaker 1: the best interests of track. Well, that's not the best 153 00:07:22,800 --> 00:07:26,560 Speaker 1: centerest of college football. So college football, I think frankly, 154 00:07:26,680 --> 00:07:28,440 Speaker 1: because the amount of money they have, because of the 155 00:07:28,520 --> 00:07:30,680 Speaker 1: power they have, because of the audience that they have, 156 00:07:31,160 --> 00:07:33,760 Speaker 1: you know, they don't they don't need a governing body 157 00:07:33,800 --> 00:07:36,480 Speaker 1: that's going to tell them what to do. They need 158 00:07:36,520 --> 00:07:38,880 Speaker 1: a governing body that's going to have their best interests 159 00:07:38,880 --> 00:07:41,160 Speaker 1: at heart. The only key thing to that governing body, 160 00:07:41,240 --> 00:07:43,960 Speaker 1: whoever they hire, has to have autonomy to make the 161 00:07:44,040 --> 00:07:46,679 Speaker 1: decisions they believe are the right ones, and the members 162 00:07:46,840 --> 00:07:50,360 Speaker 1: the football programs have to abide by that, and that's 163 00:07:50,400 --> 00:07:53,440 Speaker 1: where But if they don't, if they don't, the whole 164 00:07:53,480 --> 00:07:55,680 Speaker 1: thing goes out the right of course knowledge chaos. Well, 165 00:07:55,720 --> 00:07:57,520 Speaker 1: now here's here's the issue, right, So what we're talking 166 00:07:57,560 --> 00:08:00,360 Speaker 1: about here is money. The revenue is the dollar amount, right, 167 00:08:00,400 --> 00:08:02,320 Speaker 1: which is obviously the business and business of sports. But 168 00:08:02,360 --> 00:08:03,880 Speaker 1: let's talk about the sports a little bit, you know, 169 00:08:04,240 --> 00:08:06,360 Speaker 1: I mean, truthfully, at the end of the day, what's 170 00:08:06,400 --> 00:08:10,480 Speaker 1: happening in football, as I understand it is the concept 171 00:08:10,520 --> 00:08:13,240 Speaker 1: of a commitment has been thrown out the door. I mean, 172 00:08:13,280 --> 00:08:15,120 Speaker 1: if you look at what these coaches are making, and 173 00:08:15,320 --> 00:08:18,080 Speaker 1: but these bioclauses, there's no financial risk on them if 174 00:08:18,080 --> 00:08:19,720 Speaker 1: they choose to leave. If you look at the players, 175 00:08:19,920 --> 00:08:22,280 Speaker 1: what does that mean? In actuality? That means a football 176 00:08:22,360 --> 00:08:24,000 Speaker 1: coach can get a lot of money, and we know 177 00:08:24,120 --> 00:08:26,080 Speaker 1: that they do, and then they can just run off 178 00:08:26,120 --> 00:08:28,240 Speaker 1: and go to another build a program, get it to 179 00:08:28,720 --> 00:08:30,640 Speaker 1: a cruising out, and then cut out. I mean, I 180 00:08:30,680 --> 00:08:33,280 Speaker 1: don't want to name names, but I mean, like it's 181 00:08:33,280 --> 00:08:37,000 Speaker 1: also the players, right. The players can be at a institution, 182 00:08:37,120 --> 00:08:39,640 Speaker 1: be given that opportunity, or a quarterback you're an up 183 00:08:39,679 --> 00:08:41,800 Speaker 1: and come at Alabama comes calling your junior year and 184 00:08:41,840 --> 00:08:44,000 Speaker 1: you're out. I mean what does that due to that program? Right? 185 00:08:44,080 --> 00:08:46,440 Speaker 1: So you know, it's really I wonder if you could 186 00:08:46,440 --> 00:08:48,000 Speaker 1: talk to us, Joe a little bit more about that 187 00:08:48,160 --> 00:08:50,600 Speaker 1: about the concept of commitment in today's day and age 188 00:08:50,600 --> 00:08:53,800 Speaker 1: in college in college football, I think if you have children, 189 00:08:53,960 --> 00:08:56,559 Speaker 1: do you have children, of course, okay, so they're not 190 00:08:56,600 --> 00:08:59,520 Speaker 1: playing college football though like that, that's okay. But when 191 00:08:59,600 --> 00:09:02,120 Speaker 1: we ray is our kids, most parents when raise our kids, 192 00:09:02,600 --> 00:09:05,000 Speaker 1: we make a very very big deal by how critical 193 00:09:05,280 --> 00:09:07,880 Speaker 1: just the concept of commitment is. You make a commitment, 194 00:09:08,000 --> 00:09:10,360 Speaker 1: it's your word, you live by it. We expect you 195 00:09:10,440 --> 00:09:11,720 Speaker 1: to live by that. We expect you as you get 196 00:09:11,760 --> 00:09:13,600 Speaker 1: old to continue to live by that. You make commitments 197 00:09:13,600 --> 00:09:18,439 Speaker 1: to other people. A commitment is is sacricite now college 198 00:09:18,520 --> 00:09:22,240 Speaker 1: football or college athletics, but specifically were talking about college football. 199 00:09:22,320 --> 00:09:26,439 Speaker 1: Now college football. If they recruit a high school talent 200 00:09:27,040 --> 00:09:30,120 Speaker 1: and they offer that kid a scholarship and that kid says, 201 00:09:30,440 --> 00:09:33,400 Speaker 1: I will commit to your school, it's a commitment. However, 202 00:09:33,920 --> 00:09:37,079 Speaker 1: that kid can decommit any time he or she wants to, 203 00:09:37,600 --> 00:09:39,839 Speaker 1: up until the time they sign national letter of a tank. 204 00:09:39,960 --> 00:09:44,400 Speaker 1: Right now, I find that one of the biggest embarrassments 205 00:09:45,120 --> 00:09:49,679 Speaker 1: that college athletics at the table and the gymnasium all 206 00:09:49,720 --> 00:09:53,040 Speaker 1: of a sudden, Now that kid who decommitted, who committed 207 00:09:53,080 --> 00:09:55,520 Speaker 1: originally over here, decommits says, you're gonna go to your place. 208 00:09:55,559 --> 00:09:57,280 Speaker 1: Dec commits says you're gonna come here. So there are 209 00:09:57,280 --> 00:10:01,000 Speaker 1: no implications whatsoever. He shows up. Now, well she shows up, 210 00:10:01,280 --> 00:10:03,600 Speaker 1: and now the coach is asking her for what, Oh, 211 00:10:03,679 --> 00:10:05,439 Speaker 1: a major commitment. You've got to give it one hundred percent. 212 00:10:05,480 --> 00:10:07,079 Speaker 1: I'm sering the time you got to make you staying 213 00:10:07,160 --> 00:10:09,959 Speaker 1: up with classes, you got so So this idea of 214 00:10:10,960 --> 00:10:16,120 Speaker 1: the commitment concept, which to me is so critical, so 215 00:10:16,240 --> 00:10:20,480 Speaker 1: important when it comes to college athletics, it's irrelevant. That's 216 00:10:20,520 --> 00:10:23,559 Speaker 1: a joke. That's a joke, a total joke to me. Okay, 217 00:10:23,640 --> 00:10:25,880 Speaker 1: So so number one that that's where you're beginning. So 218 00:10:26,000 --> 00:10:30,080 Speaker 1: commitments don't really mattered the na's credibility crisis right now. Okay, 219 00:10:30,120 --> 00:10:32,439 Speaker 1: so that's coming in the door now to get to 220 00:10:32,480 --> 00:10:34,520 Speaker 1: the n IL, we'll talk about what happens when they transfer. 221 00:10:34,720 --> 00:10:36,840 Speaker 1: But before that, when do we drove to the contracts? Right? 222 00:10:36,920 --> 00:10:41,719 Speaker 1: All right? So the NFL or business. Uh, if you've 223 00:10:41,760 --> 00:10:44,480 Speaker 1: got a contract in the NFL, it's a contract. The 224 00:10:44,600 --> 00:10:47,640 Speaker 1: contract is if yeah, if I'm there for five years, 225 00:10:47,640 --> 00:10:49,640 Speaker 1: I'm there for five years. Now you can fire me, 226 00:10:49,720 --> 00:10:51,600 Speaker 1: but then you got to pay me out. You could 227 00:10:51,640 --> 00:10:54,240 Speaker 1: extend it if you want to, or you can let 228 00:10:54,480 --> 00:10:55,800 Speaker 1: let it come to an end and they become a 229 00:10:55,840 --> 00:10:58,840 Speaker 1: free agent. But the contract is binding Business World Binding, 230 00:10:59,080 --> 00:11:02,880 Speaker 1: NFL binding, and be a binding college athletics. They have 231 00:11:03,000 --> 00:11:06,000 Speaker 1: this thing called a buyout, right, it's not a service fact, 232 00:11:06,320 --> 00:11:09,440 Speaker 1: it's a buyout. So a coach for the agents are 233 00:11:09,520 --> 00:11:11,960 Speaker 1: doing everything they possibly can to make sure that buyout 234 00:11:12,040 --> 00:11:14,360 Speaker 1: is as minimal as possible. But you have the haves 235 00:11:14,360 --> 00:11:16,560 Speaker 1: and haves not so with then fbs, you've got ten conference. 236 00:11:16,640 --> 00:11:19,200 Speaker 1: You've got five Power five schools that have a ton 237 00:11:19,320 --> 00:11:21,120 Speaker 1: of money. Right, then you got the other fives that 238 00:11:21,200 --> 00:11:23,120 Speaker 1: have a little bit of money but nowhere in comparison. 239 00:11:23,520 --> 00:11:26,400 Speaker 1: So a Power five schools can come in and take 240 00:11:26,800 --> 00:11:30,079 Speaker 1: a coach is doing really well at another school but 241 00:11:30,160 --> 00:11:32,320 Speaker 1: not making nearly as much money. Literally pay them five 242 00:11:32,400 --> 00:11:36,240 Speaker 1: to six times as much and pay a minimal buyout 243 00:11:36,320 --> 00:11:37,880 Speaker 1: that is irrelevant with the amount of money that the 244 00:11:37,880 --> 00:11:40,160 Speaker 1: Power five schools have. So the coaches gets up in 245 00:11:40,280 --> 00:11:42,280 Speaker 1: leaves and the agents are making money on that as well. 246 00:11:42,320 --> 00:11:46,360 Speaker 1: Agent intensivize. The agents are making a boatload of money 247 00:11:46,400 --> 00:11:49,319 Speaker 1: on this. And with regards to just negotiating contracts, the 248 00:11:49,400 --> 00:11:51,280 Speaker 1: agents do this all the time. They do this many 249 00:11:51,320 --> 00:11:53,680 Speaker 1: many minute times, will spend of a year. An athletic 250 00:11:53,720 --> 00:11:57,839 Speaker 1: director probably does one big contract maybe once or twice 251 00:11:57,880 --> 00:12:00,319 Speaker 1: every four or five years. Right, So there there's no 252 00:12:00,400 --> 00:12:02,760 Speaker 1: comparison here in terms of the expertise, in terms of 253 00:12:03,200 --> 00:12:05,880 Speaker 1: terms what's going on. Why schools not incentivized to do 254 00:12:05,960 --> 00:12:08,079 Speaker 1: anything about this? Why are the league's not incentivized to 255 00:12:08,120 --> 00:12:09,880 Speaker 1: do anything about that? Because the school that has the 256 00:12:09,960 --> 00:12:12,600 Speaker 1: most money of the Power five schools and they benefit 257 00:12:12,920 --> 00:12:15,440 Speaker 1: from not having a buyout, and they can look at Wow, 258 00:12:15,559 --> 00:12:17,840 Speaker 1: that's a great coach, you know that coach coach out Carolina. 259 00:12:17,880 --> 00:12:20,040 Speaker 1: We can pay them. You know we're gonna We're paying 260 00:12:20,080 --> 00:12:21,520 Speaker 1: whatever you want to. And I said, well then you 261 00:12:21,559 --> 00:12:23,960 Speaker 1: know that's not even ethical. Well, but that's not our 262 00:12:24,040 --> 00:12:26,439 Speaker 1: best interest, right, So go back to what we said 263 00:12:26,480 --> 00:12:29,040 Speaker 1: a little while ago with regard to Baker. If it's 264 00:12:29,080 --> 00:12:30,480 Speaker 1: not in their best if it's not in the Power 265 00:12:30,520 --> 00:12:32,920 Speaker 1: five's best interests, they're not gonna do it. So we 266 00:12:32,960 --> 00:12:36,960 Speaker 1: should acknowledge that now. I think without question, if there 267 00:12:37,000 --> 00:12:41,400 Speaker 1: were some things that College Athletics football or NC double 268 00:12:41,440 --> 00:12:44,120 Speaker 1: A in general, should do? Should do is number one. 269 00:12:44,160 --> 00:12:46,559 Speaker 1: If you have a contract, it's a binding contract. That's it. 270 00:12:46,880 --> 00:12:49,200 Speaker 1: It's binding, and then all there's no you don't even 271 00:12:49,280 --> 00:12:52,000 Speaker 1: have buyouts. It's a binding count. It goes away. Now, 272 00:12:52,080 --> 00:12:55,120 Speaker 1: everybody's supposed to treat others prankly with dignity of respect. 273 00:12:55,480 --> 00:12:58,760 Speaker 1: So use that example. Now you just mentioned I think 274 00:12:58,800 --> 00:13:02,959 Speaker 1: I think Scarlett, you hadn't mentioned uh that you know, 275 00:13:03,000 --> 00:13:04,440 Speaker 1: you could decimate day. I mean maybe it was your 276 00:13:04,440 --> 00:13:06,599 Speaker 1: but you could decimate a program, all right. So we 277 00:13:06,720 --> 00:13:08,599 Speaker 1: just lost our coach for example. He went for a 278 00:13:08,679 --> 00:13:11,800 Speaker 1: lot more some money to someplace else. And I love 279 00:13:11,880 --> 00:13:14,080 Speaker 1: the guy. I hired him. He was my offensive coordinator. 280 00:13:14,400 --> 00:13:16,880 Speaker 1: I had him succeed me. I wrote his contract up. 281 00:13:17,400 --> 00:13:20,959 Speaker 1: But he's able to leave with Label Leaf for a 282 00:13:21,000 --> 00:13:22,959 Speaker 1: lot more money, and we don't get much out of 283 00:13:23,040 --> 00:13:25,840 Speaker 1: that as a school. So with all the money he's got, 284 00:13:26,040 --> 00:13:27,920 Speaker 1: he can take anybody wants on the staff. You can 285 00:13:27,960 --> 00:13:32,800 Speaker 1: think whatever he wants, an interns analysts, graduate assistance, analyst 286 00:13:32,880 --> 00:13:37,280 Speaker 1: interns graduate assistance. He can he can come after our players, 287 00:13:37,880 --> 00:13:39,800 Speaker 1: which I have a little bit of an issue with 288 00:13:39,840 --> 00:13:41,640 Speaker 1: that because he can do that, and most of these 289 00:13:41,640 --> 00:13:44,040 Speaker 1: schools have nil money that they could take advantage of 290 00:13:44,120 --> 00:13:46,640 Speaker 1: that we don't necessarily have. So let me just jump 291 00:13:46,760 --> 00:13:50,439 Speaker 1: right in here. So the solution, Like, to me, it 292 00:13:50,520 --> 00:13:53,920 Speaker 1: seems fairly obvious, right, I mean, it seems that collegiate 293 00:13:53,960 --> 00:13:56,720 Speaker 1: athletics are basically heading down a model where you're gonna 294 00:13:56,760 --> 00:13:59,719 Speaker 1: actually have to cut a salary to players, and it's 295 00:13:59,720 --> 00:14:01,760 Speaker 1: gonna be like bank it's gonna be like financial market 296 00:14:01,800 --> 00:14:03,640 Speaker 1: scarlet in the sense that, hey, you know, if you're 297 00:14:03,640 --> 00:14:05,360 Speaker 1: a great trader, you're start trader and you want to 298 00:14:05,440 --> 00:14:07,520 Speaker 1: up and leave, you know, you got to sit out 299 00:14:07,559 --> 00:14:09,120 Speaker 1: for you. I mean that used to be the case, right, 300 00:14:09,760 --> 00:14:12,720 Speaker 1: college athletics completely yeah, I mean, I mean it's crazy, right, 301 00:14:12,760 --> 00:14:15,199 Speaker 1: I mean, now we're not talking about a right exactly 302 00:14:15,240 --> 00:14:18,120 Speaker 1: where we're talking about hired employees. Yeah, yeah, stuff paid 303 00:14:18,160 --> 00:14:20,720 Speaker 1: stuff without question and that and that to me seems 304 00:14:21,120 --> 00:14:23,560 Speaker 1: where it's heading at this point. Amount. I mean, Joe, 305 00:14:23,600 --> 00:14:26,000 Speaker 1: what do you think there? Damian, I think is already there. Yeah. 306 00:14:26,200 --> 00:14:28,320 Speaker 1: So the nil there are no rules or the nil. 307 00:14:28,600 --> 00:14:30,920 Speaker 1: The only rule the NC double A has, which is ridiculous, 308 00:14:31,040 --> 00:14:33,200 Speaker 1: is that you know, money can't come from the school 309 00:14:33,480 --> 00:14:35,560 Speaker 1: and the coaches can't even like go out and solicit 310 00:14:35,640 --> 00:14:38,520 Speaker 1: the money. But they don't need toybody. They don't have 311 00:14:38,600 --> 00:14:40,320 Speaker 1: to do that. They don't have to do that. And 312 00:14:40,480 --> 00:14:42,680 Speaker 1: there's going to be communication between the coach and the 313 00:14:42,800 --> 00:14:46,800 Speaker 1: collective or the business groups anyway. But but right now, 314 00:14:47,200 --> 00:14:51,640 Speaker 1: without question, college athletes that have any reasonable amount of 315 00:14:51,680 --> 00:14:54,960 Speaker 1: talent at all or or attractive to a particular program, 316 00:14:55,320 --> 00:14:57,280 Speaker 1: they're going to get paid, and they get paid a 317 00:14:57,320 --> 00:14:58,760 Speaker 1: lot of money. Let me just jump in from in 318 00:14:58,880 --> 00:15:00,680 Speaker 1: a moment, because we have a very fired up coach, 319 00:15:00,760 --> 00:15:02,880 Speaker 1: Joe Moglia. He is a former head football coach at 320 00:15:02,960 --> 00:15:06,080 Speaker 1: Coastal Carolina University and of course he's also the former 321 00:15:06,160 --> 00:15:08,000 Speaker 1: chairman of the board and CEO of td A Merit 322 00:15:08,040 --> 00:15:11,200 Speaker 1: Trade and Damian coach. Joe Molia is currently chair of 323 00:15:11,280 --> 00:15:15,880 Speaker 1: Athletics at Coastal Carolina and executive advisor to the president there. So, Joe, 324 00:15:15,920 --> 00:15:17,480 Speaker 1: I mean, my question for you here is, you know, 325 00:15:17,600 --> 00:15:20,320 Speaker 1: you hear about these nil deals that are getting done. 326 00:15:20,400 --> 00:15:23,160 Speaker 1: You know, I mean, how solid are those deals? Are? 327 00:15:23,200 --> 00:15:25,600 Speaker 1: They like a handshake deal before a player commits is 328 00:15:25,680 --> 00:15:27,920 Speaker 1: something in writing? I mean just how I mean, have 329 00:15:28,000 --> 00:15:30,400 Speaker 1: they been tested yet or contested in a court of law. Yet, 330 00:15:30,440 --> 00:15:32,720 Speaker 1: I mean, have there been any nil deals where a 331 00:15:32,720 --> 00:15:34,280 Speaker 1: player thought he was signing up for one thing and 332 00:15:34,360 --> 00:15:36,040 Speaker 1: got something else? I mean, where are we with that? 333 00:15:36,440 --> 00:15:38,520 Speaker 1: I think all this, like in any contract, is the 334 00:15:38,600 --> 00:15:41,600 Speaker 1: fine print, and you're talking about either high school kids 335 00:15:41,680 --> 00:15:43,600 Speaker 1: or young kids twenty twenty one years old with no 336 00:15:43,640 --> 00:15:46,640 Speaker 1: advisor who's listening to their agent. The agents are making 337 00:15:46,680 --> 00:15:49,560 Speaker 1: money here agent chaps, who has an attorney, etc. Etc. 338 00:15:50,000 --> 00:15:52,360 Speaker 1: But it's still the small print. So you can come 339 00:15:52,400 --> 00:15:56,200 Speaker 1: in and talk about all this all what you might 340 00:15:56,280 --> 00:15:58,000 Speaker 1: be able to collect, but at the end of the day, 341 00:15:58,320 --> 00:16:01,760 Speaker 1: you didn't read paragraph two in paragraphs three, so we 342 00:16:01,880 --> 00:16:07,240 Speaker 1: don't know that yet. That's correct, But I think over 343 00:16:07,400 --> 00:16:10,840 Speaker 1: time when some of those are challenged, what's going to 344 00:16:10,960 --> 00:16:13,640 Speaker 1: happen is in the future, an NIL contract is going 345 00:16:13,680 --> 00:16:15,760 Speaker 1: to have to be a pretty solid contract, and it's 346 00:16:15,800 --> 00:16:18,400 Speaker 1: got to be simple enough, frankly so everybody understands it. 347 00:16:18,800 --> 00:16:20,840 Speaker 1: And the biggest issue right now that I've got with 348 00:16:20,920 --> 00:16:23,720 Speaker 1: the with the NIL contracts is they're not transparent, so 349 00:16:24,000 --> 00:16:26,560 Speaker 1: people don't necessary schools don't necessarily want to say that 350 00:16:26,760 --> 00:16:28,400 Speaker 1: I'm really giving this a guy four million dollars but 351 00:16:28,720 --> 00:16:30,560 Speaker 1: talking to us about that, talk to us about that 352 00:16:30,640 --> 00:16:33,000 Speaker 1: transparency and how important that is and what we can do, 353 00:16:33,160 --> 00:16:35,640 Speaker 1: what the system needs to do in order to give 354 00:16:35,720 --> 00:16:38,000 Speaker 1: that kind of you know, to bring that credibility back 355 00:16:38,000 --> 00:16:40,440 Speaker 1: to the process. You need to have an independent governing 356 00:16:40,520 --> 00:16:44,040 Speaker 1: body that makes decisions along the lines of what they 357 00:16:44,080 --> 00:16:47,600 Speaker 1: believe is the best interests of the sport and the individuals, 358 00:16:48,040 --> 00:16:51,040 Speaker 1: and that begins with that. That literally would begin with 359 00:16:51,520 --> 00:16:56,000 Speaker 1: a contract that is legitimate and transparent so everybody can 360 00:16:56,120 --> 00:16:59,160 Speaker 1: see what's going on right now. It's a secret, it's 361 00:16:59,200 --> 00:17:01,800 Speaker 1: going on behind po's backs. Who's the who's the person 362 00:17:01,920 --> 00:17:04,639 Speaker 1: or institution that would bless that? Does that come from 363 00:17:04,680 --> 00:17:08,560 Speaker 1: the NCAA? Does that come from this from the schools 364 00:17:08,560 --> 00:17:11,159 Speaker 1: deciding that the Power five schools or the smaller schools 365 00:17:11,200 --> 00:17:12,760 Speaker 1: that aren't part of the party. I think you begin 366 00:17:12,840 --> 00:17:15,080 Speaker 1: with the FBS, but you really focus on the Power 367 00:17:15,160 --> 00:17:18,520 Speaker 1: five schools, and the FBS, for example, can decide maybe 368 00:17:18,560 --> 00:17:20,840 Speaker 1: which schools they really want to be the Power five score, 369 00:17:21,359 --> 00:17:24,639 Speaker 1: but the Power five school college football, it's just school 370 00:17:24,680 --> 00:17:27,639 Speaker 1: college football. College football then needs to make a decision 371 00:17:28,119 --> 00:17:29,639 Speaker 1: we're going to break away from the nc double A. 372 00:17:29,840 --> 00:17:31,840 Speaker 1: If we are don't we need a governing body. There 373 00:17:31,880 --> 00:17:35,120 Speaker 1: are all these existential questions in order to solve this, right, Yeah, 374 00:17:35,160 --> 00:17:38,480 Speaker 1: but the simple business question and the reality of what's 375 00:17:38,480 --> 00:17:40,760 Speaker 1: happened with the n NIL and the lack of leadership 376 00:17:40,800 --> 00:17:43,520 Speaker 1: from the NC Double A is I believe without question, 377 00:17:43,600 --> 00:17:45,880 Speaker 1: this is going to happen. Right, this is going to happen. 378 00:17:45,920 --> 00:17:47,680 Speaker 1: That was going to happen. You have to have a 379 00:17:47,760 --> 00:17:50,160 Speaker 1: governing body. If they have a governing body that doesn't 380 00:17:50,200 --> 00:17:53,919 Speaker 1: have any authority, well you're gonna have chaos within college. 381 00:17:54,080 --> 00:17:56,240 Speaker 1: Is going to happen in one year or in five years. 382 00:17:56,400 --> 00:17:58,640 Speaker 1: I think it should happen tomorrow, but it might take 383 00:17:58,720 --> 00:18:01,359 Speaker 1: five years. Jon Jone. They'll take a step back here 384 00:18:01,359 --> 00:18:03,360 Speaker 1: because if your proposed to say, everything you propose comes 385 00:18:03,400 --> 00:18:06,160 Speaker 1: to the fruition and the you know, the Big five breakaway. 386 00:18:06,160 --> 00:18:08,119 Speaker 1: They have their own governing body. They're doing within the 387 00:18:08,160 --> 00:18:11,959 Speaker 1: best interests of the Big five football. But Big NIL 388 00:18:12,119 --> 00:18:15,920 Speaker 1: is bigger than college football. Nil is college basketball, which 389 00:18:15,920 --> 00:18:17,760 Speaker 1: you'll now be governed by the NC Double A. It 390 00:18:17,920 --> 00:18:20,359 Speaker 1: is a host of other sports. And now we're talking 391 00:18:20,440 --> 00:18:23,800 Speaker 1: about different everything, different deals, different like who's gonna go 392 00:18:24,000 --> 00:18:26,440 Speaker 1: Like there's no overall rule I mean, like, so, I 393 00:18:26,520 --> 00:18:29,600 Speaker 1: guess my question for you is NIL is bigger than 394 00:18:29,680 --> 00:18:31,920 Speaker 1: just football. How do we now bring all of these 395 00:18:32,080 --> 00:18:35,439 Speaker 1: different sports, different schools, different parties together to come up 396 00:18:35,440 --> 00:18:38,320 Speaker 1: with some universal means through which to kind of engage 397 00:18:38,359 --> 00:18:41,560 Speaker 1: with student athletes and get them you know, their NIL 398 00:18:41,680 --> 00:18:43,760 Speaker 1: rights and their and their deals done. And you see 399 00:18:43,760 --> 00:18:46,080 Speaker 1: what I'm saying here, I mean, it becomes it becomes 400 00:18:46,240 --> 00:18:49,080 Speaker 1: really really messy. As if the NCAA loses control here. 401 00:18:49,160 --> 00:18:52,600 Speaker 1: Now the nc double A Dame is already given up control. 402 00:18:52,680 --> 00:18:55,160 Speaker 1: They have no control. This is chaos, just the wild 403 00:18:55,160 --> 00:18:58,520 Speaker 1: wild West. Now, any collective can do what they want 404 00:18:58,600 --> 00:19:01,640 Speaker 1: in terms of offering kids money. Right, Like I'm told 405 00:19:01,680 --> 00:19:05,960 Speaker 1: from pretty good sourciers, the number one quarterback high school 406 00:19:05,960 --> 00:19:10,119 Speaker 1: recruit this year was promised five million dollars to be 407 00:19:10,119 --> 00:19:12,600 Speaker 1: able to go wherever he's going. Right. That's that's eighteen 408 00:19:12,680 --> 00:19:15,000 Speaker 1: year old Kit. You're got to finished the senior year yet, 409 00:19:15,280 --> 00:19:18,800 Speaker 1: so the uh so, I mean, at the end of 410 00:19:18,840 --> 00:19:21,320 Speaker 1: the day, the ncble A doesn't have any control, and 411 00:19:21,520 --> 00:19:24,040 Speaker 1: the NCBLEA has so stepped to the sideline on this. 412 00:19:24,440 --> 00:19:26,800 Speaker 1: The NIL is going to be allowed to handle go 413 00:19:26,960 --> 00:19:29,720 Speaker 1: on as it is. What football would have an opportunity 414 00:19:29,760 --> 00:19:32,160 Speaker 1: to do with a governing body would come in and say, 415 00:19:32,240 --> 00:19:35,800 Speaker 1: try to provide some rules and guidelines with regard at 416 00:19:35,840 --> 00:19:40,159 Speaker 1: least provide transparency with the nil whatever else you might 417 00:19:40,240 --> 00:19:42,000 Speaker 1: be able to put together. That you think winds up 418 00:19:42,119 --> 00:19:46,160 Speaker 1: is everybody's in their best interest and then everybody abides 419 00:19:46,240 --> 00:19:47,960 Speaker 1: by that. But that's within college fullfire. I mean, I 420 00:19:48,040 --> 00:19:49,560 Speaker 1: agree with you. I think you're absolutely right that we 421 00:19:49,600 --> 00:19:52,320 Speaker 1: need to get some sort of you know, governing ruling body, 422 00:19:52,520 --> 00:19:54,800 Speaker 1: something at the top where this is all spelled out 423 00:19:54,840 --> 00:19:57,080 Speaker 1: and there's transparency and everything. I think just you know 424 00:19:58,200 --> 00:20:02,760 Speaker 1: that governing body by the way as well. No, now, 425 00:20:02,800 --> 00:20:05,720 Speaker 1: I think with regard to to the UH, to a 426 00:20:05,840 --> 00:20:08,879 Speaker 1: power five governing body, you know what, I don't know 427 00:20:08,920 --> 00:20:11,560 Speaker 1: if I would have the energy for the politics and 428 00:20:11,720 --> 00:20:14,680 Speaker 1: the bologny that's got to go through that, Okay, that different. 429 00:20:14,720 --> 00:20:16,640 Speaker 1: I would be more open to that. I'd be open 430 00:20:16,720 --> 00:20:19,080 Speaker 1: to that if I truly was going to be the 431 00:20:19,200 --> 00:20:22,040 Speaker 1: CEO and people were going to listen to what my 432 00:20:22,160 --> 00:20:25,960 Speaker 1: thought I had real I had real authority. I think 433 00:20:25,960 --> 00:20:28,359 Speaker 1: that'd be an interesting job. If I let the record 434 00:20:28,400 --> 00:20:34,680 Speaker 1: shows not I said, the record show if I had really, 435 00:20:36,720 --> 00:20:38,280 Speaker 1: I got another question for you here. I mean, you 436 00:20:38,320 --> 00:20:40,360 Speaker 1: know you're you know, put your TV and meritory, put 437 00:20:40,400 --> 00:20:42,520 Speaker 1: your business hat back on. You know, you've seen students 438 00:20:42,600 --> 00:20:45,920 Speaker 1: coming out of college coming, uh coming, you know, entering, 439 00:20:46,080 --> 00:20:48,080 Speaker 1: you know, the sports world, the professional sports world for 440 00:20:48,119 --> 00:20:50,520 Speaker 1: the better part of the last however many years. How 441 00:20:50,600 --> 00:20:54,600 Speaker 1: different is today's you know, rising aspiring professional athlete coming 442 00:20:54,640 --> 00:20:57,120 Speaker 1: out of university relatives to just five or ten years ago. 443 00:20:57,160 --> 00:20:59,040 Speaker 1: Are they smarter? Are they more with it? I mean, 444 00:20:59,280 --> 00:21:03,320 Speaker 1: are there advice? There's better? Are they are they more accountable? 445 00:21:03,359 --> 00:21:05,440 Speaker 1: Are they less accountable? Just curious to hear thoughts they're 446 00:21:05,440 --> 00:21:07,280 Speaker 1: generally speaking, I think the biggest thing has happened on 447 00:21:07,400 --> 00:21:08,800 Speaker 1: this span of the last few years is simply the 448 00:21:09,000 --> 00:21:11,840 Speaker 1: amount of money in the NIL piece. Now. So for 449 00:21:12,640 --> 00:21:16,280 Speaker 1: there are some cases where, probably not football, but in 450 00:21:16,280 --> 00:21:19,160 Speaker 1: another sports where an NIL package could be big enough 451 00:21:19,240 --> 00:21:21,040 Speaker 1: that you'd rather not be, you know, one of the 452 00:21:21,119 --> 00:21:23,480 Speaker 1: lower rounds in baseball and the draft a baseball for example. 453 00:21:23,760 --> 00:21:27,680 Speaker 1: So in I think in terms of accountability, without ncuble, 454 00:21:27,800 --> 00:21:32,680 Speaker 1: a real authority or real respect or real influence, I 455 00:21:32,760 --> 00:21:34,760 Speaker 1: think you'd have to say less accountable today than what 456 00:21:34,800 --> 00:21:36,600 Speaker 1: there would have been five years ago, because five years 457 00:21:36,600 --> 00:21:39,000 Speaker 1: ago at least people believe that the NC double A 458 00:21:39,200 --> 00:21:42,360 Speaker 1: really truly had the best interests of the student athlete 459 00:21:42,359 --> 00:21:45,040 Speaker 1: and the institutions at heart. Based on the fact that 460 00:21:45,080 --> 00:21:47,480 Speaker 1: they walked away from the whole nil thing, suggests that 461 00:21:47,600 --> 00:21:51,840 Speaker 1: they didn't. Now that could possibly be one person's responsibility, 462 00:21:51,880 --> 00:21:53,800 Speaker 1: I e. Emer, But that doesn't make sense to me 463 00:21:54,000 --> 00:21:55,399 Speaker 1: that because that had to be he had to have 464 00:21:55,440 --> 00:21:57,200 Speaker 1: an executive committee work with him, and he had to 465 00:21:57,280 --> 00:21:59,880 Speaker 1: have a board to prove that. So those are made 466 00:22:00,119 --> 00:22:02,479 Speaker 1: major issues for me. So I think today, Damian, relative 467 00:22:02,520 --> 00:22:05,080 Speaker 1: to where we were, it's less accountable today than what 468 00:22:05,160 --> 00:22:06,680 Speaker 1: it was. If you go back to your second of 469 00:22:06,720 --> 00:22:09,240 Speaker 1: a governing body for football, remember two, they would address 470 00:22:09,280 --> 00:22:12,720 Speaker 1: everything they're addressed recruiting, for example, the idea of commitment. 471 00:22:13,359 --> 00:22:14,960 Speaker 1: If you are for a kid of scholarships, he's got 472 00:22:15,000 --> 00:22:17,000 Speaker 1: seventy two hours to make a decision, he makes it 473 00:22:17,080 --> 00:22:19,400 Speaker 1: desid seventy two hours, he got to sign him. It's over, 474 00:22:19,480 --> 00:22:22,119 Speaker 1: it's done, that's solved, that's south. I bring back the 475 00:22:22,160 --> 00:22:24,359 Speaker 1: transfer rule for example, so at least now you have 476 00:22:24,440 --> 00:22:26,840 Speaker 1: to consider whether or not you're going to go someplace else. 477 00:22:27,080 --> 00:22:30,159 Speaker 1: I would eliminate buyouts, and I would have contracts that 478 00:22:30,240 --> 00:22:33,400 Speaker 1: are binding. That's low hanging fruit that a governing body 479 00:22:33,440 --> 00:22:36,159 Speaker 1: should be able to do. Quickly. Where did we go 480 00:22:36,320 --> 00:22:38,160 Speaker 1: how did we go wrong with that transfer or when 481 00:22:38,200 --> 00:22:40,880 Speaker 1: did they pull that? What was the argument against having 482 00:22:40,960 --> 00:22:43,320 Speaker 1: the transfer right? Because if I'm not mistaken, you know 483 00:22:43,400 --> 00:22:44,919 Speaker 1: students had to sit out for a year, right, Yes, 484 00:22:45,000 --> 00:22:46,600 Speaker 1: that's correct? And so when did that end? Again, I 485 00:22:46,640 --> 00:22:49,639 Speaker 1: mean remind me basically, when did this become the wild West? Yeah? Okay, 486 00:22:49,880 --> 00:22:55,320 Speaker 1: six weeks after the NIL was announced, within about six weeks, 487 00:22:56,240 --> 00:22:59,479 Speaker 1: in its wisdom, the NC double A said we are 488 00:22:59,600 --> 00:23:03,920 Speaker 1: going to drop the transfers. So now, so now you 489 00:23:04,040 --> 00:23:08,159 Speaker 1: have unlimited money with no guidelines, and you don't have 490 00:23:08,240 --> 00:23:10,240 Speaker 1: to sit out a year, and we have a portal. 491 00:23:10,320 --> 00:23:12,440 Speaker 1: And I thought the portal was was was a good idea. 492 00:23:12,480 --> 00:23:15,040 Speaker 1: The port came six seven years ago. Now college coaches 493 00:23:15,080 --> 00:23:17,440 Speaker 1: had so much authority, most of us didn't like the portal. 494 00:23:17,480 --> 00:23:19,520 Speaker 1: I actually thought it was fair. The kid doesn't want 495 00:23:19,520 --> 00:23:21,399 Speaker 1: to be here, it's fair. He should be able to 496 00:23:21,440 --> 00:23:23,399 Speaker 1: go someplace else or at least be recruited. It's the 497 00:23:23,480 --> 00:23:24,920 Speaker 1: right thing for the kid in the student athlete. But 498 00:23:24,960 --> 00:23:26,280 Speaker 1: he's got to sit out a year, so you're going 499 00:23:26,320 --> 00:23:27,760 Speaker 1: to recruit him. You got to think about it. There's 500 00:23:27,760 --> 00:23:29,680 Speaker 1: a price if it's your price, right, and this should 501 00:23:29,680 --> 00:23:32,080 Speaker 1: be cost too important decisions like that. They shouldn't be 502 00:23:32,119 --> 00:23:35,359 Speaker 1: doing whatever you feel like. So so I believed in that. 503 00:23:36,080 --> 00:23:39,040 Speaker 1: Now you've got two years ago, you still got the portal, 504 00:23:39,400 --> 00:23:43,240 Speaker 1: but elimination transfer rule. There thousands the thousands of people 505 00:23:43,320 --> 00:23:46,600 Speaker 1: on the portal that can that they could go to 506 00:23:46,680 --> 00:23:48,840 Speaker 1: the highest bidder and go right away. So you're saying, 507 00:23:48,880 --> 00:23:52,240 Speaker 1: Coach Joel, that the NCAA created this problem for itself 508 00:23:52,280 --> 00:23:55,040 Speaker 1: when it did that. At each step of the way, 509 00:23:55,080 --> 00:23:57,399 Speaker 1: it dropped to the ball on accountability and kind of 510 00:23:57,440 --> 00:23:59,280 Speaker 1: threw its hands up in the air and said, do 511 00:23:59,560 --> 00:24:03,480 Speaker 1: do it it. That's not a maybe, in my opinion, 512 00:24:03,560 --> 00:24:06,320 Speaker 1: it's not even a maybe. Again, to accept the fact 513 00:24:06,359 --> 00:24:09,440 Speaker 1: that the nil thing is motionific. Just Charlie Baker moved 514 00:24:09,480 --> 00:24:12,200 Speaker 1: the needle here at all on an i'll what is 515 00:24:12,240 --> 00:24:13,760 Speaker 1: the best way for him to move the needle on 516 00:24:13,960 --> 00:24:16,359 Speaker 1: an i'l and tackling some of this, well, he can 517 00:24:16,440 --> 00:24:18,520 Speaker 1: do some of the things that we just suggested. For example, 518 00:24:18,560 --> 00:24:21,919 Speaker 1: there's no again, if I'm he I'm going to get 519 00:24:22,119 --> 00:24:23,640 Speaker 1: I'm going to get rid of the power from I'm 520 00:24:23,640 --> 00:24:25,800 Speaker 1: going to act like I'm negotiating that. If he does that, 521 00:24:26,480 --> 00:24:28,880 Speaker 1: first of all, he gets rid of his biggest headache. Secondly, 522 00:24:29,040 --> 00:24:31,720 Speaker 1: there's smart politics. It's smart leadership too, I think. But 523 00:24:31,800 --> 00:24:34,479 Speaker 1: then he's got the NC double A left and now 524 00:24:34,600 --> 00:24:36,879 Speaker 1: that should enhance his credibility within the instant double A. 525 00:24:36,960 --> 00:24:38,760 Speaker 1: So at least he has now more authority. People are 526 00:24:38,760 --> 00:24:40,920 Speaker 1: going to listen to him, not in football, So I 527 00:24:40,960 --> 00:24:42,840 Speaker 1: think that's a good step in the right direction. It's like, okay, 528 00:24:42,880 --> 00:24:45,840 Speaker 1: my my, my domain does not include football anymore. We're 529 00:24:45,880 --> 00:24:47,800 Speaker 1: talking about basketball and all the other sports. Right. But 530 00:24:47,920 --> 00:24:50,399 Speaker 1: if he's acting like he's the leader in this, that 531 00:24:50,480 --> 00:24:52,600 Speaker 1: gives him some credibility. He's doing what he thinks is 532 00:24:52,640 --> 00:24:54,280 Speaker 1: the right thing, even though may not be in his 533 00:24:54,359 --> 00:24:56,120 Speaker 1: personal best address. What do you think, by the odds 534 00:24:56,119 --> 00:24:59,880 Speaker 1: that he'll he'll just let football go. It's going to happen. 535 00:25:01,480 --> 00:25:03,520 Speaker 1: Do you think that he will let it go? Though? 536 00:25:03,840 --> 00:25:06,000 Speaker 1: I think if somebody sits down the first of all 537 00:25:06,560 --> 00:25:10,400 Speaker 1: government Massachusetts, he's just he's a good solid politician. If 538 00:25:10,480 --> 00:25:12,080 Speaker 1: he sees the writing on the wall, and if he 539 00:25:12,119 --> 00:25:15,440 Speaker 1: doesn't see the writing on the wall. He better wake up, better, 540 00:25:15,480 --> 00:25:17,680 Speaker 1: wake up right? So true, she's writing on the wall. 541 00:25:17,760 --> 00:25:19,720 Speaker 1: I can't believe he's not going to take the bull 542 00:25:19,760 --> 00:25:21,480 Speaker 1: bitles say, you know what, let me help with this. 543 00:25:21,880 --> 00:25:23,840 Speaker 1: It's the right thing. College athlete, let me, let me 544 00:25:23,960 --> 00:25:26,520 Speaker 1: help with this. And he acts like he's sacrificing something 545 00:25:26,560 --> 00:25:28,520 Speaker 1: for the better interests of the whole. To give him 546 00:25:28,560 --> 00:25:31,880 Speaker 1: a little little blee Wales frames it. Joe I am 547 00:25:32,119 --> 00:25:35,800 Speaker 1: he Molia. He is the former CEO and chairman of Tdamritre, 548 00:25:35,960 --> 00:25:39,040 Speaker 1: chairman of Fundamental Global Investors and Capital Wealth Advisors and 549 00:25:39,119 --> 00:25:42,560 Speaker 1: CHAFF Athletics, and executive Advisor to the President at Coastal 550 00:25:42,640 --> 00:25:45,080 Speaker 1: Carolina University. But Joe is also a native New York 551 00:25:45,119 --> 00:25:47,560 Speaker 1: And so Joe, I have to ask the question, you're 552 00:25:47,560 --> 00:25:49,840 Speaker 1: a Giants fan, You're a Jets fan. I'm a Giants 553 00:25:49,880 --> 00:25:52,639 Speaker 1: fan or Giant? So what do we think about Nane Jones, 554 00:25:52,680 --> 00:25:55,359 Speaker 1: about that contract for Daniel Jones? What do we think 555 00:25:55,359 --> 00:25:57,159 Speaker 1: about sae Quon Barkley getting the tag? What do we 556 00:25:57,200 --> 00:25:59,200 Speaker 1: think about the giant chances is here? Well, you know 557 00:25:59,480 --> 00:26:02,800 Speaker 1: the I spend so much time trying to answer questions 558 00:26:02,840 --> 00:26:04,800 Speaker 1: like you two of peppering me with I don't have 559 00:26:04,880 --> 00:26:07,680 Speaker 1: a time to really pay that much to what's going 560 00:26:07,680 --> 00:26:09,960 Speaker 1: on there. I really don't pay attention to it that much. 561 00:26:10,320 --> 00:26:12,720 Speaker 1: But I think at the end of the day, I think, 562 00:26:12,800 --> 00:26:14,560 Speaker 1: you know, the Giants have been struggling for a little 563 00:26:14,600 --> 00:26:16,440 Speaker 1: for a while now, and they need to be able 564 00:26:16,440 --> 00:26:19,080 Speaker 1: to make what I actually know, John Marrett, you've got 565 00:26:19,119 --> 00:26:20,440 Speaker 1: to be able to make the decision you believe in 566 00:26:20,480 --> 00:26:23,480 Speaker 1: the right decision. Now. I don't know enough of I'm 567 00:26:23,520 --> 00:26:26,520 Speaker 1: just I think I'm pretty much agree. I'm not afraid 568 00:26:26,520 --> 00:26:30,640 Speaker 1: to give you my opinion. Yeah, so I really don't 569 00:26:30,720 --> 00:26:32,720 Speaker 1: know enough to be able to have an educated opinion 570 00:26:32,800 --> 00:26:34,480 Speaker 1: on that. Right, right, it's a big blue you know. 571 00:26:35,040 --> 00:26:38,280 Speaker 1: We'll see, We'll see it's just good enough. But they 572 00:26:38,320 --> 00:26:40,280 Speaker 1: should have done a few years ago. Bring me in 573 00:26:40,359 --> 00:26:44,159 Speaker 1: this coach there you go, Coach Joe Mowglia, thank you 574 00:26:44,200 --> 00:26:46,679 Speaker 1: so much for joining us. Coacho of Mowglia is uh 575 00:26:46,920 --> 00:26:50,600 Speaker 1: former head football coach at Coastal Carolina University. Currently, of course, 576 00:26:50,840 --> 00:26:52,640 Speaker 1: he has a big role there as well. He's chaff 577 00:26:52,640 --> 00:26:55,840 Speaker 1: athletics at the school and executive advisor to the President. 578 00:26:56,119 --> 00:26:58,680 Speaker 1: Our audience as Damian mentioned probably knows him as a 579 00:26:58,720 --> 00:27:01,560 Speaker 1: former chairman of the board and CEO of TD Ameritrade. 580 00:27:01,960 --> 00:27:04,760 Speaker 1: This is the Bloomberg Business of Sports podcasts. I'm Scarlet 581 00:27:04,800 --> 00:27:07,520 Speaker 1: Food here with Damien sass Hour. Catch us every Monday, 582 00:27:07,600 --> 00:27:09,760 Speaker 1: Wednesday and Thursday where we explore the world of money 583 00:27:09,760 --> 00:27:11,480 Speaker 1: in sports and we certainly hit on both of those 584 00:27:11,560 --> 00:27:14,240 Speaker 1: ideas today. Also find me on Twitter at Scarlet Fool 585 00:27:14,280 --> 00:27:16,400 Speaker 1: and you can catch me on Twitter at the Sasselle. 586 00:27:16,480 --> 00:27:19,240 Speaker 1: You're listening to Bloomberg Business of Sports from Bloomberg Radio 587 00:27:19,359 --> 00:27:20,040 Speaker 1: around the world.