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

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Speaker 1: Michael Barr. And this is the Bloomberg Business of Sports

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Speaker 1: podcast where we we explore the big money issues in

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Speaker 1: the world of sports. Let's begin with a serious topic.

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Speaker 1: The CEO of NASCAR, Brian France, third generation of the

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Speaker 1: brand of the France family. He has stepped down temporarily

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Speaker 1: because he got pulled over for a d w I

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Speaker 1: in the Hampton's Uh, It's it's pretty serious from what

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Speaker 1: the police are saying. He also had a legal oxy

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Speaker 1: code own in his car during the search. Now, what's

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Speaker 1: going to happen to Brian France. I mean, there's been

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Speaker 1: a lot of reaction out there, and yes, there's a

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Speaker 1: number of people who are in the sport in terms

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Speaker 1: of fans who do not like Brian France or they're saying, hey,

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Speaker 1: if this was a driver, he would be suspended. But again,

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Speaker 1: I just let's let's take this for probably be suspended

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Speaker 1: by the governing body anyway, that would probably happen, yes,

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Speaker 1: and I'm guessing that Brian France will probably be suspended

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Speaker 1: by NASCAR too. However, he is the CEO of the company.

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Speaker 1: Is this enough for him to lose the job. Of

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Speaker 1: more concern is this comes at a time when they're

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Speaker 1: shopping a stake of Nascar. They they don't need bad

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Speaker 1: press at this time. That's the part where forgive me. Yes,

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Speaker 1: there is the human part of it. Yes, you you

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Speaker 1: hope he gets well and hope everything is okay. But

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Speaker 1: on the business part, you just hit the nail on

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Speaker 1: the head. It's like, you don't need this kind of press. Yeah.

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Speaker 1: Does the number come down even off of this? I

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Speaker 1: I don't know. I mean, the property is what it is.

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Speaker 1: Are they more inclined to make this My big takeaway?

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Speaker 1: There's an interim CEO. Obviously you want to take a

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Speaker 1: guess at what his last name is gee, because I

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Speaker 1: can tell you this, it doesn't have a hyphen or

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Speaker 1: it Uh. It is Brian's uncle, Jim France. I believe

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Speaker 1: there has been you know, for years and and and Michael,

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Speaker 1: you can probably talk more about this. The France family

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Speaker 1: the first family of NASCAR. They run the whole ship,

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Speaker 1: uh not without their share of controversy. There are certainly

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Speaker 1: people out there who think that maybe time for for

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Speaker 1: a new ownership group, more leadership to come in. Is

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Speaker 1: there a chance that this leads to that. It doesn't

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Speaker 1: look like it right now. But but as NASCAR in

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Speaker 1: need of something else that's ammunition leadership. Well, personally, no,

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Speaker 1: I think it's gonna be very hard to leave the

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Speaker 1: France family because of this. Now. Yes, as we go

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Speaker 1: down the road they want to shop this product, maybe,

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Speaker 1: but I mean, and you hit the nail on the head.

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Speaker 1: There have been many other controversies well before this and

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Speaker 1: and back in the day. Uh, you know, there were

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Speaker 1: so many other stories that that went down. Uh you know,

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Speaker 1: it's it's the France family. It's that's his name, you know,

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Speaker 1: Big Bill France when he founded NASCAR nine, he started

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Speaker 1: the whole thing. And then Bill France Jr. Came along,

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Speaker 1: took over from his dad's you know, dad's reigns, and

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Speaker 1: he did, you know, a great job. And then Brian

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Speaker 1: France took over. So it's hard not to see this

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Speaker 1: in the France family. I had someone compare the France

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Speaker 1: family to Bernie ecclestone for what he did at F one.

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Speaker 1: You know, was instrumental in making F one the huge

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Speaker 1: property that it was. However, towards the end of his tenure,

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Speaker 1: a lot of people felt as though for F one

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Speaker 1: to make a jump and needed new leadership with with

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Speaker 1: with a new guiding principle, And when John Malone took over,

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Speaker 1: he made it clear that F one was going to

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Speaker 1: to be pushing into areas that Bernie was not doing,

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Speaker 1: such as digital tense, such as new media, etcetera. Um,

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Speaker 1: does kind of beg the question if NASCAR might be

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Speaker 1: in need of that sounds kind of silly pushing. I

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Speaker 1: didn't want to push into digital and but that's true.

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Speaker 1: I understand that if it doesn't, it sound kind of

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Speaker 1: it does. Yeah, And that's kind of exactly. I mean,

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Speaker 1: I think that was the point. Right. This is why

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Speaker 1: Liberty saw so much value in F one is because

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Speaker 1: it was a global A lot of things right that

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Speaker 1: Bernie ecclestone was not doing the things that that all

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Speaker 1: modern sports things. Probably the way we need to get

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Speaker 1: Chase carry on the show. I'm gonna email him after

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Speaker 1: the show. We need to get Chase. We've never talked

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Speaker 1: F one, and it is interesting how they get that

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Speaker 1: product to a global audience. What's what's new? Yes, I'm

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Speaker 1: with you, ten, I'm gonna email him if yes, you do?

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Speaker 1: And how do you how do you compare the two,

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Speaker 1: the two properties NASCAR versus F one. Well, I always

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Speaker 1: appreciated Alto racing for what it is auto racing. I

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Speaker 1: mean it's the same thing for F one when you

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Speaker 1: go to IndyCar racing. Obviously Nascar, I mean I can

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Speaker 1: keep drag racing. Mean I appreciate the machinery involved in

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Speaker 1: the work that goes into that machine to make it

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Speaker 1: go as fast as possible on the track. You know

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Speaker 1: what I appreciate. I appreciate that when I'm done with

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Speaker 1: an F one rac if I'm there, that I stroll

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Speaker 1: into the casino and Monico you've been the Monica. No,

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Speaker 1: I'm saying that's what I would appreciate more than stumbling

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Speaker 1: out at Waking and Watkins Glenn. Okay, they liked it

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Speaker 1: better than Watkins Glen. Do you hear excited he got? Well, yeah,

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Speaker 1: I mean crit Medina. Couldn't you see us the three

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Speaker 1: of us, white dinner jackets head into the Baka rock table,

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Speaker 1: loafers on our feet. They kick us out, So no, no, no, no, no,

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Speaker 1: we would repose. Why excuse me? Do you have a

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Speaker 1: low dollar table? Where's the great poop right far? Where's

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Speaker 1: the Perkins. Yeah, that's my I want to Perkins Perkins

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Speaker 1: in Monico. Well done. Moving along, let's talk about what's

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Speaker 1: going on. Kids sold their shoes, like if you didn't

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Speaker 1: see this coming a million miles away, that they're giving

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Speaker 1: sort of limited edition air Jordan's or some kind of

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Speaker 1: Jordan's to college kids, and then sort of these sneaker

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Speaker 1: heads are offering them lots of money for these limited

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Speaker 1: edition shoes. Let's see, I'm a college kid. I don't

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Speaker 1: have all that much money they gave me these sneakers.

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Speaker 1: Somebody's offering me whatever number of zeros, thousands of dollars

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Speaker 1: for these shoes. Yeah, yes, I'm going to take the money. Yeah.

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Speaker 1: We chuck this up to kind of the silliness of

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Speaker 1: the n c a A and its entire business model

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Speaker 1: because and we talked about this all the time, because

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Speaker 1: athletes are not allowed to be compensated. The teams are

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Speaker 1: signing monster deals with under Armor and Adidas, they're paying

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Speaker 1: huge money to coaches. There's so much money going it's

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Speaker 1: just slashing around everywhere. Evan's gonna twist an ankle falling

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Speaker 1: off that soap, and and the result is that, yes,

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Speaker 1: when you have a you know, a two hundred million

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Speaker 1: dollar deal with with with Jordan's for your for your program,

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Speaker 1: your your players get a wash in more apparel than

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Speaker 1: they know what to do with. They get more shoes, shirts,

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Speaker 1: then more shoes possibly where it is silly to think

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Speaker 1: that this was not, as you said, Scott, the most

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Speaker 1: obvious next time someone was gonna how a lot of games. Yeah,

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Speaker 1: and and the end and this is we can talk

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Speaker 1: about this as well if you want. The n c

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Speaker 1: A is letting them stagger the suspensions so that they

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Speaker 1: don't all hit it once, which seems to me to

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Speaker 1: be at least to sit out against Syracuse. They must

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Speaker 1: all serve the suspension when they play SIS. I gotta

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Speaker 1: play Devil's advocate here. Let's say, for instance, Bloomberg. Yeah,

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Speaker 1: they said, okay, here you are. You get the thousand

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Speaker 1: dollar pair of sneakers. You you what would you do

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Speaker 1: if someone offered you the money? Now it's Bloomberg rule

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Speaker 1: that says you cannot resell those sneakers. I mean, they knew,

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Speaker 1: as the coach said. The coach said, they made bad

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Speaker 1: decisions and now they will have to deal with the

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Speaker 1: consequences of the actions. And that's my job their young

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Speaker 1: men is to teach them that there are consequences and

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Speaker 1: they you can't just make bad decisions. They all knew,

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Speaker 1: presumably knew they weren't allowed to sell the shoes. How

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Speaker 1: can you, as an employee of u n C preach

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Speaker 1: that you make bad decisions you have to face the

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Speaker 1: consequences when for the past ten years your school has

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Speaker 1: been letting bogus degree ease and take bogus classes. And

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Speaker 1: when the n c A came to look at it,

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Speaker 1: the school stood up for the classes because when it

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Speaker 1: came time to face the penalty, face the music, take

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Speaker 1: responsibility for the actions the school chose not. There is

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Speaker 1: no better mythical figure and any of sport than the

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Speaker 1: high and mighty coach, which I love. I love when

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Speaker 1: they get up there and preach and they talk about

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Speaker 1: I teach your kids and do the right way, and

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Speaker 1: we shouldn't transfer in their quitters and what what who

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Speaker 1: was it was a hardball with the who? Who don't know?

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Speaker 1: Who was it with the uh it's the last bastion

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Speaker 1: of manhood left in the country and that was this

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Speaker 1: coach And the country's going down. If college football goes down.

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Speaker 1: I'm like oh that was the same guy. Just you

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Speaker 1: just can't come on. You know. First of all, Scott,

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Speaker 1: I think, by the way, it's a sexy look when

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Speaker 1: Evan gets that nostril flair like he did a second ago. Yeah,

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Speaker 1: I'm saying, but I'm gonna play again. I know I'm

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Speaker 1: going to be that guy that is the degenerate on

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Speaker 1: the show when you dropped die who dropped dime On?

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Speaker 1: I mean because if you didn't know, Because if nobody

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Speaker 1: would have known, this wouldn't have even been an issue.

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Speaker 1: They sold it to a local sneaker company in Chapel Hill.

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Speaker 1: I believe smart the company. The guy who bought them,

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Speaker 1: who was going to resell, had no idea that this

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Speaker 1: was not allowed, so he posted photos on Instagram and

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Speaker 1: then he can sign them while and then a U

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Speaker 1: n C fan apparently emailed the athletic department and said, hey,

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Speaker 1: just so you know, um football sneakers that were given

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Speaker 1: to your football team right now on sale in town.

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Speaker 1: And that kind of started. This was one of the

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Speaker 1: ball you know, the Bowl gifts they get. Could they

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Speaker 1: sell that? They can't sell anything. Point the point of

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Speaker 1: the amateurism rules is that you can give a lot

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Speaker 1: of gifts like this, but just a moment there they

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Speaker 1: turn into financial value. You can't do that, you know.

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Speaker 1: So you can give that as gifts to your sister

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Speaker 1: and your mom, etcetera. But you know the moment you

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Speaker 1: you you turn that into money. So what they were

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Speaker 1: actually getting paid for was washing cars. They just happened

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Speaker 1: to give the guy sneakers as a gift. A new

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Speaker 1: defense for you and see moving right along Lebron. Oh my,

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Speaker 1: he's got a showtime deal. Uh cbss deal. Explain everybody

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Speaker 1: wants to be associated with Lebron. I mean when you

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Speaker 1: talk about athletes and they follow that Magic Johnson that

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Speaker 1: the way to do it, how to build wealth. How

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Speaker 1: Magic understands the difference between being rich and being an owner.

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Speaker 1: That there, it's the equity, it's the ownership. Lebron gets it. Man,

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Speaker 1: he is an owner of these things. He's executive producing.

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Speaker 1: He is building an entertainment behemoth that will survive his career,

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Speaker 1: that will generate lots of money, which is why I'm

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Speaker 1: not going to put a timetable on it. But pretty

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Speaker 1: soon you're gonna have the word billionaire after Lebron James,

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Speaker 1: because this is how you do it. Look out, Jerry Bruckheimer,

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Speaker 1: My my question, I mean, looking at the million dollar mile.

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Speaker 1: Is this show that the CBS picked up In reading

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Speaker 1: what it is? It sounds like any other athletic based

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Speaker 1: reality TV show that we've seen in the past ten

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Speaker 1: fifteen years. Do people watch shows like this because the

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Speaker 1: billboard may say produced by Lebron James, still has to

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Speaker 1: be a good show. Okay, Well, I gotta tell you,

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Speaker 1: I mean I watched his show. Well, I'm because I'm

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Speaker 1: a game show geek. The wall. That's a good example.

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Speaker 1: And and did you turn to that because Lebron James

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Speaker 1: is doing this? I have to admit when you know

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Speaker 1: you heard the sample it because it's Lebron, But do

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Speaker 1: you stay it has to be? And it was, it

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Speaker 1: was good. Let's talk about the title of his showtime

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Speaker 1: show though, it's just shut up and dribble. So if

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Speaker 1: he's not sending a message with that, that's I mean,

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Speaker 1: that's good stuff from of course being the line that

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Speaker 1: Laura Ingram, the conservative talk show host y, that's that's

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Speaker 1: what my wife, shut up and dribble and put every

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Speaker 1: dollar in his pocket. That's what my wife said to

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Speaker 1: when I was sleeping hard and on the pillows like

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Speaker 1: shut up and dribble. That's you know, okay anyway, thank god,

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Speaker 1: wrap wrap both hands, wrap it up off the deep end.

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Speaker 1: This is the blue Berg Business of Sports Podcasts Michael Barr,

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Speaker 1: along with Scott Sasnick and Evan no Wi Williams. For now.

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Speaker 1: We're here each and every Monday, Wednesday and Thursday exploring

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Speaker 1: the world of money and sports. Joined us at the

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Speaker 1: end of the week when we speak with longtime sports

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Speaker 1: and entertainment executive Tim Lywick. You're listening to Bloomberg Business

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

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Speaker 1: as an Apple podcast all night