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Speaker 1: You're listening to Bloomberg Business of Sports from Bloomberg Radio.

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

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Speaker 1: I'm Michael Barr And this is the Bloomberg Business of

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

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Speaker 1: the world of sports. And today really excited to connect

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Speaker 1: again with Steph Strack. She is the founder and the

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Speaker 1: CEO of Voice in Sport, an incredibly experienced executive in

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Speaker 1: the world of sports and apparel and culture and so

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Speaker 1: many things. I got a chance to catch up with

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Speaker 1: her last year when Voice in Sport was just launching stuff.

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Speaker 1: It's great to have you back. How are you, what's

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Speaker 1: going on? Hi? Thank you so much for having me. Um.

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Speaker 1: It's a pleasure to be here with all three of

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Speaker 1: you guys. UM. You know, we're staying busy. We we've

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Speaker 1: launched a year ago almost and we have a lot

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Speaker 1: going on, adding some new services to the Voice and

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Speaker 1: Sports platform, which are excited to talk about today. And

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Speaker 1: we had an exciting announcement last month with our leadership

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Speaker 1: add A can see team. So lots going on and

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Speaker 1: you know, now more than ever, these girls need our support. UM.

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Speaker 1: In the sports industry, as COVID continues, so excited to

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Speaker 1: be here today, thank you. One of the great things

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Speaker 1: about Voice in Sports it brings up a much needed

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Speaker 1: topic to put it in the forefront about gender and

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Speaker 1: equities in youth and amateur sports. Can you talk about that?

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Speaker 1: One of the things I had noticed, uh you send

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Speaker 1: over effect, is that colleges have denied female athletes more

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Speaker 1: than nine hundred seventy two million dollars nine hundred seventy

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Speaker 1: two million dollars in scholarships compared to their male counterparts.

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Speaker 1: The question simply why, Yeah, I think, um, this is

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Speaker 1: a big reason why I started voicing sport, and I

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Speaker 1: didn't realize how little progress had been made at some

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Speaker 1: of the amateur levels. I mean, we talk a lot

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Speaker 1: about equal pay for professional athletes, and there's surely a

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Speaker 1: lot of things that we still need a work on

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Speaker 1: at the per level. But yes, when you dig down

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Speaker 1: deep into like what's happening in C double A for

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Speaker 1: these collegiate athletes, you realize that there's so many more

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Speaker 1: inequities still to uncover and to change. So it's unfortunate.

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Speaker 1: But even though Title nine has done some tremendous things

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Speaker 1: for us and for women's sports in the United States,

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Speaker 1: there's store still this disproportionate amount of opportunities that go

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Speaker 1: to male athletes. And even in two thousand nineteen, it

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Speaker 1: was still eighty seven percent of n C double A

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Speaker 1: schools offered more athletic opportunities to male athletes and female athletes.

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Speaker 1: And and we've got a lot to work to do.

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Speaker 1: So why is that happening? And I think when it

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Speaker 1: comes down to the leaders in the positions of those schools,

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Speaker 1: and even though you have Title nine in place, there's

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Speaker 1: not enough enforcement and regulation that's happening at the local level.

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Speaker 1: And so it's one of the main major platform initiatives

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Speaker 1: for us that Voice in Sport is to create this

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Speaker 1: new kind of grass roots on the ground team that

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Speaker 1: is educated on Title nine, that knows how to enforce

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Speaker 1: Title nine and they can run the three prom tests

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Speaker 1: themselves and who can actually work with their administrators on

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Speaker 1: the ground to call out those inequities. So, you know,

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Speaker 1: I think, um, it's unfortunate that those the inequities are

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Speaker 1: still happening, But we've got a plan now in place

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Speaker 1: and Boys in Sports and try to try to have

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Speaker 1: a grassroots initiative really tackle those things on the ground. Hey, Step,

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Speaker 1: it's Mike Lynch up in Boston. I see your target

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Speaker 1: age for these young women are thirteen to twenty two.

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Speaker 1: But are you going after the college athlete who's going

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Speaker 1: to get a scholarship, the elite athlete, the casual athlete,

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Speaker 1: or just the girl that's that that wants to play

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Speaker 1: maybe you know, until high school and that's the end

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Speaker 1: of it. Yeah, it's a great question. You know. I

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Speaker 1: I grew up as a competitive athlete, soccer player in

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Speaker 1: a ski racer, and I now looking back having a

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Speaker 1: seven year old daughter and of working with a lot

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Speaker 1: of young women and building boy in sport. Our goal

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Speaker 1: is to keep girls in sport. So you know, unfortunately

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Speaker 1: the dropout rate is still continuing at that age of fourteen.

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Speaker 1: It's such a critical age for young girls, and girls

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Speaker 1: are dropping out of sport at two times the rate

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Speaker 1: of boys at age fourteen and and so our main

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Speaker 1: goal is to keep these girls in sport. So, you know,

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Speaker 1: although we would love to see young women going on

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Speaker 1: to reach professional level and collegiate level sports, the goals

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Speaker 1: really just to keep them in the sport if they

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Speaker 1: can have a better experience, a better journey keep them

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Speaker 1: in past that age of fourteen when they're really dropping out.

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Speaker 1: We believe that sport can like develop a Navy leaders

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Speaker 1: and ultimately, you know, we want more women in the

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Speaker 1: sports industry and leadership positions, more CEOs that are females.

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Speaker 1: And I really believe from my experience in sports that

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Speaker 1: the longer you stay in it, the stronger you're going

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Speaker 1: to get and the more leadership skills are going to develop. So,

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Speaker 1: you know, we we offer a little bit of everything

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Speaker 1: in our community. When you join, you have access to

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Speaker 1: all sorts of mentors, and the VIZ League is made

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Speaker 1: up of Division three mentors Division to one, and then

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Speaker 1: you know athletes that are headed to the Olympics here

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Speaker 1: in Tokyo and so Steph. You know, part of this

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Speaker 1: is the the economics of playing even at an amateur level.

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Speaker 1: And I know you guys have been involved in you

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Speaker 1: know what is one of the most fascinating and important

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Speaker 1: topics for the past few years, but seems to be

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Speaker 1: coming to some sort of head and in a positive

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Speaker 1: way this year, which is the whole uh notion of name,

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Speaker 1: image and likeness and compensation around that. I know you

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Speaker 1: guys have been involved in advising and weighing in on

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Speaker 1: that help us understand the whole name, image and likeness

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Speaker 1: piece of this because it does play into the economic

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Speaker 1: equity or the potential for some economic equity for men

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Speaker 1: and women. That's right, I mean, you know, unfortunately, still,

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Speaker 1: since the professional leagues are not as developed for women's

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Speaker 1: sports in the United States, college is an area where

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Speaker 1: women could potentially be making some of their biggest monetary

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Speaker 1: achievements when it's related to sports. So you know the

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Speaker 1: fact that today they cannot earn any of their of

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Speaker 1: their money from their name, image and likeness in college

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Speaker 1: is a huge, um, you know, disadvantage and it does

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Speaker 1: affect all athletes. And so simply put name, image and

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Speaker 1: likeness UM it described the rights of basically publicity. So

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Speaker 1: does the athlete have the right to their name, image,

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Speaker 1: and likeness and use that to gain um monetary benefit

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Speaker 1: during their during their time in college. And right now,

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Speaker 1: all college athletes, regardless of gender are considered to be

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Speaker 1: amateur athletes. And we are pushing a voice and support

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Speaker 1: for all athletes, including you know, all genders, every everyone

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Speaker 1: who identifies whichever gender um that they actually can have

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Speaker 1: that ability to make money while they're in school, and

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Speaker 1: it is really important for female athletes because usually those

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Speaker 1: of the non revenue sports UM, they're also usually maybe

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Speaker 1: the last stop for them in terms of UM their

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Speaker 1: athletic journey unfortunately, and so it's so important to allow

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Speaker 1: them to receive that individualized compensation UM during those four

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Speaker 1: years sometimes five years in college. If I could follow

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Speaker 1: up on that, I mean, I think stuff about like

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Speaker 1: the women's basketball especially, I mean that is, you think

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Speaker 1: about Yukon, you think about Tennessee, you think about you know,

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Speaker 1: some of these programs, as you say, and I want

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Speaker 1: to talk about the w n b A in a

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Speaker 1: few minutes, but you know, women's college basketball the college

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Speaker 1: level often is when you know, the Rebecca Lobos and

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Speaker 1: others you know, really reach their their zenith in terms

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Speaker 1: of recognizability and marketability. Yeah, that's right. I mean you

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Speaker 1: know if you then go on to the w n

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Speaker 1: b A and you don't you know, unfortunately, like salary

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Speaker 1: caps are much lower UM in the w VIA than

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Speaker 1: they are in the NBA, so even that earning potential

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Speaker 1: when you get to pro levels is not as great.

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Speaker 1: So it's so important in those years UM of college

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Speaker 1: to have that ability to capitalize on all that hard

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Speaker 1: work that got you there in the first place. So

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Speaker 1: you know, I mean, we're huge, UM, huge fans of name,

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Speaker 1: image and likeness. And we had the opportunity to get

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Speaker 1: our of his leadership team in front of Senator Murphy

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Speaker 1: UM last week actually to discuss name, image and likeness

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Speaker 1: and and there are some areas that were you know,

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Speaker 1: we're concerned about. We want to make sure that these

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Speaker 1: non revenue sports that they don't lose out on resources.

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Speaker 1: I think that that can probably be pretty detrimental. UM.

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Speaker 1: We also want to make sure that all of the

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Speaker 1: you know, all of the UM increased agents and advisory influences,

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Speaker 1: that that that these athletes are going to be faced,

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Speaker 1: that that everybody has the opportunity to get educated around

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Speaker 1: those things. What does it mean to walk into a contract?

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Speaker 1: What should you think about when you're meeting with a brand? UM.

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Speaker 1: So there's a lot I think of education to happen,

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Speaker 1: and we want to make sure that education is provided

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Speaker 1: to everybody, not just you know, the most elite football

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Speaker 1: players or the top basketball players. I apologize for the

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Speaker 1: bluntness of the question because this is a very important topic.

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Speaker 1: But as for you guys, how do you guys make

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Speaker 1: money out of your business model? Oh? Boys in sport? Well,

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Speaker 1: you know we launched. Jason had this question for me

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Speaker 1: back in August. We did launch a free model, So

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Speaker 1: I'm glad that. I'm happy to say that. You know,

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Speaker 1: it was a really tough time when we launched UM.

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Speaker 1: COVID nineteen was just ramping up in the summer. A

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Speaker 1: lot of programs were being cut across the country at

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Speaker 1: all levels, and I think it was really important to

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Speaker 1: offer our services for free. We did hold back on

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Speaker 1: launching some of our services until UM this next April,

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Speaker 1: so we haven't We launched with the free model, providing

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Speaker 1: free mentorships with the Viz League, so all of our

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Speaker 1: professional athletes and college athletes. We've been paying the professionals,

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Speaker 1: not paying the college athletes because of name, image and

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Speaker 1: likeness unfortunately UM, but offering those services to young girls

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Speaker 1: for free. And in about a month and so this

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Speaker 1: April in one, we will be increasing our services, offering

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Speaker 1: access to sports psychologists and sports nutritionists experts on the

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Speaker 1: Viz platform and so we'll be moving to a freemium

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Speaker 1: model and there'll be ranges of membership fees from sixteen

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Speaker 1: dollars a month to ninety dollars a month, depending on

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Speaker 1: how much UM you want to access on the Voice

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Speaker 1: and Sports platform. So we are sort of moving in

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Speaker 1: that direction, Jason, and I'm proud to say we're also

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Speaker 1: paying the female athletes along the way, because that's really

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Speaker 1: important too. So stuff, do do you have any idea

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Speaker 1: how many of the free subscribers will be able to retain?

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Speaker 1: Has anybody jumped in or signed up? Or is this

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Speaker 1: going to be crushed your fingers when you get to April. No,

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Speaker 1: I think we We just started the conversations. UM. This

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Speaker 1: is last week actually with club teams, so we're meeting

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Speaker 1: with club teams also. We will also be providing the

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Speaker 1: Voice and Sport platform to colleges and universities. UM. You know,

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Speaker 1: I think that if you look at what's happening right

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Speaker 1: now around mental health, it's it's pretty concerning some of

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Speaker 1: the numbers that have been reported. UM just looking at

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Speaker 1: the n C double A one of their most recent

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Speaker 1: studies on well being survey for n C double A students,

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Speaker 1: and mental health is one of the most concerning UM

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Speaker 1: areas that we see, as well as disordered eating and

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Speaker 1: unfortunately for for women, for female athletes that reported disordered

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Speaker 1: eating is up to forty one point five percent. And

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Speaker 1: if you ask UM what the kind of the most

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Speaker 1: concerning age groups for suicide rates right now, it is

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Speaker 1: that eighteen to twenty four UM year old rate. So

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Speaker 1: we there's some some pretty serious things going on right now.

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Speaker 1: And when you ask female athletes how to access mental

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Speaker 1: health services, fifty of them don't know where to go

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Speaker 1: to get help. So we're actually going to be selling

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Speaker 1: in our platform not just two individuals, but two club

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Speaker 1: teams around the US and universities, and we were super excited.

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Speaker 1: We just started those conversations last week. Yeah, it's interesting

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Speaker 1: to think about the club aspect of this too. We

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Speaker 1: had a great conversation, uh Lynch and I did last

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Speaker 1: week with Ben Sherwood who's just launched Mojoe and check

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Speaker 1: that out on our podcast for Shameless bug Um and

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Speaker 1: I know that that that's an area that has been,

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Speaker 1: as you've said, stuff really underrepresented or under um sort

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Speaker 1: of underutilized, under exposed. When you think about youth sports,

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Speaker 1: and we know the economics there are are pretty intense

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Speaker 1: and the economic potential there is pretty intense. I want

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Speaker 1: to go back to the w n b A if

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Speaker 1: we can, and and pick up on something that that

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Speaker 1: you said around leadership UM and the importance of women

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Speaker 1: in leadership roles. There was huge news in the w

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Speaker 1: my hometown in Atlanta, with the Atlanta Dream and Renee Montgomery,

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Speaker 1: former player being part of not just the ownership group,

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Speaker 1: but part of the management as well. That is seismic

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Speaker 1: in many ways. I know, I believe and keep me

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Speaker 1: honest here stuff. Elizabeth Williams from the Dream is part

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Speaker 1: of your network. I do wonder what you have made

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Speaker 1: of some of the kind of economics and activism that

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Speaker 1: we've seen in the w n b A, because even

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Speaker 1: since we last spoke, it's been pretty remarkable to watch,

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Speaker 1: even just thinking about what the Dream did when it

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Speaker 1: came to the Georgia election. Yeah, I mean you mentioned

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Speaker 1: Elizabeth Williams and she's a this League member, so she

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Speaker 1: mentored young girls on our platform, and she's also a

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Speaker 1: huge voice in the advocacy efforts that we've been taking

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Speaker 1: over the last year, and it's it is amazing to

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Speaker 1: see a progress UM with the new Bargaining Agreement UM However,

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Speaker 1: there's still just a huge gap. I think when you

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Speaker 1: speak to the women in the league, it was like

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Speaker 1: it's it's been the best way to look at it

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Speaker 1: is like progress but not quite there yet, And I

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Speaker 1: think that's the consistent theme might hear from the players. Um.

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Speaker 1: I think the great thing about what happened in the

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Speaker 1: last year, aside from like a step forward in the

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Speaker 1: bargaining agreement rights, was how they're treating mothers and how

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Speaker 1: they're treating women who want to get pregnant during their

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Speaker 1: their careers, which is a great thing to see. But

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Speaker 1: the reality is the pay and the opportunities is still

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Speaker 1: not enough. These women are having to go overseas internationals

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Speaker 1: to finish out even to for them to have a

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Speaker 1: salary if you will, that's somewhat comparable to the men,

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Speaker 1: and so that that's a huge, um, you know, sacrifice

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Speaker 1: that these women have to make that the men don't

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Speaker 1: really have to deal with. Can kind of go into

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Speaker 1: their one season hit at home and and then you know,

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Speaker 1: train for the next one with their families, and the

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Speaker 1: women instead are okay, am I going to Turkey? Am

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Speaker 1: I going to China? Where am I going? Um? And

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Speaker 1: arguably they make more money overseas than they do here,

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Speaker 1: so you have to ask yourself, why, Yeah, why is

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Speaker 1: it that like the best players in the world cannot

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Speaker 1: get the highest pay here in the United States. So

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Speaker 1: I'm you know, I think that we are definitely have

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Speaker 1: UM women from the w n b A on the

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Speaker 1: Voice and Sport Advocacy Leadership team, and they will be

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Speaker 1: with us in Washington, d C. As we plan some

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Speaker 1: of our first two Capitol hillidays here. I'd like to

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Speaker 1: ask about diversity and inclusion. The two facts you guys

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Speaker 1: brought up. One female head coaches of women college programs.

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Speaker 1: It dropped from ninety one according to what you are

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Speaker 1: telling us, to only forty. And then the I can

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Speaker 1: the girls of color and urban and rural areas drop

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Speaker 1: out of sports two times than suburban white girls. Can

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Speaker 1: you expand more on that? Yeah, let's start with the

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Speaker 1: coaches one. I think you know, Title nine did so

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Speaker 1: many amazing things, right, I mean, there's so many, so

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Speaker 1: much more opportunity that was created out of Title nine

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Speaker 1: UM for women's sports in public institutions. However, I think

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Speaker 1: what ended up happening on the coaches side is that

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Speaker 1: those of those positions became open and there was this

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Speaker 1: huge shift of men going for those roles and and

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Speaker 1: then it's sort of just like the rest of the

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Speaker 1: sports industry, it followed if you will, if you take

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Speaker 1: a look at the sports industry on the brand side

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Speaker 1: or the media side, you also have this same percentage

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Speaker 1: of male leadership versus women leadership at the top. And

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Speaker 1: it's really been amazing to see some of the shifts

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Speaker 1: over last year, um, with some of the general management

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Speaker 1: shifts bringing more women in those leadership positions. But um,

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Speaker 1: it's kind of just following suit I guess with the

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Speaker 1: rest of the industry, and we have a lot of

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Speaker 1: work to bring more female coaches into those roles, especially

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Speaker 1: female coaches of color, um, because it's important for for

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Speaker 1: young girls to see those role models in those positions.

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Speaker 1: So lots of work still to do there, and we're,

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Speaker 1: you know, a huge proponent of supporting those women in

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Speaker 1: those positions. On the second fact, it is super concerning.

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Speaker 1: We a big part of our mission at Voice and

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Speaker 1: Sport is to make sure that we're offering part of

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Speaker 1: our services to to those young girls who cannot afford it.

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Speaker 1: So it's a big reason why we also launched for free,

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Speaker 1: and why as we continue to build Voice and Sport

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Speaker 1: will have a free portion of what we offer. So

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Speaker 1: most of all of our content is free. The community

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Speaker 1: access to Voice and Sport is free, the ability to

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Speaker 1: have pure mentoring is free. UM. All of that is

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Speaker 1: so important because these young girls UM do not have

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Speaker 1: the means to access these resources. And yeah, super super

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Speaker 1: concerning to see that disparity between young black girls. So

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Speaker 1: part of what we're going to be offering on Voice

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Speaker 1: and Sport is scholarships UM and free memberships so that

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Speaker 1: these young girls can have access to some of these

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Speaker 1: elevated services. So if you're an organization out there that

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Speaker 1: that is trying to UM get younger girls, younger black

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Speaker 1: girls into sports, especially predominantly white sports like lacrosse, soccer, swimming,

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Speaker 1: then please reach out to us a Voice and Sport,

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Speaker 1: because we will be creating these programs specifically for that

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Speaker 1: group UM of young female athletes that need access and

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Speaker 1: currently don't have the resources to get it. STEPH, do

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Speaker 1: have investors or financial backing to sustain all these free

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Speaker 1: services that you're going to continue to offer so many

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Speaker 1: of the people that have been underserved. I love that question.

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Speaker 1: We UM I am self funding UM Voice and Sport platform. UM.

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Speaker 1: I had the great opportunity to work for Nike for

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Speaker 1: fourteen years and then as the CEO of Rag and Bone,

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Speaker 1: so I have been self funding the company. UM now

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Speaker 1: moving to the freemium model where we'll be paying or

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Speaker 1: will be charging young girls and families for access to

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Speaker 1: some of our elevated services. We hope to create a

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Speaker 1: very sustainable business model for the future of this UM.

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Speaker 1: At the same time, we are in some discussions with

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Speaker 1: some amazing brands that want to provide UM sponsorships through

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Speaker 1: memberships to young girls, So UM some of those we

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Speaker 1: will be announcing in the next couple of months. And

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Speaker 1: anyone else out there that's interested in investing through sponsoring

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Speaker 1: young girls and their memberships to Voice and Sport, we

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Speaker 1: would love to have conversations with them. So Steph, just

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Speaker 1: as we wrap up, but you know, there was one

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Speaker 1: thing you just mentioned there that I wanted to drill

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Speaker 1: in and if we can, which is your experience at

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Speaker 1: Nike because you were there for for quite some time

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Speaker 1: and you understand the economics of women and girls and

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Speaker 1: apparel and especially athletic apparel. How have you seen that evolved,

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Speaker 1: especially in the years since you've been at Nike, because

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Speaker 1: part of this, candidly, and this is the business of sports.

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Speaker 1: This is good business. This is a market of you know,

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Speaker 1: of girls and and young women who then go on

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Speaker 1: to be adult women who have a lot of purchasing

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Speaker 1: power and who may not be professional athletes, but are

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Speaker 1: we get warriors of a sword or you know, continuing

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Speaker 1: to invest in their own health and wellness. So help

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Speaker 1: help us understand how that has evolved it and the

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Speaker 1: lens through which you see this, you know, having seen

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Speaker 1: it up close and personal at Nike. Yeah, I think

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Speaker 1: this is one of the most underserved areas actually across

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Speaker 1: the sports industry. And it's it's a reason why when

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Speaker 1: I last I think it just became even more delaringly

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Speaker 1: obvious that wow, like who what who else is out

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Speaker 1: there creating stuff specifically for these girls and dedicating their

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Speaker 1: entire company to doing that. And I think that's why

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Speaker 1: I saw the opportunity. I think that, um, at these

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Speaker 1: larger companies, it's always on the agenda. UM, it just

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Speaker 1: is not always the focus. And and so I think

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Speaker 1: to your here earlier point, Jason, the purchasing power, the

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Speaker 1: passion UM, the virility of UM essentially bringing these girls

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Speaker 1: together and creating a community. I think we'll have a

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Speaker 1: pretty big impact long term. So we definitely see this

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Speaker 1: as an area that is underrepresented as well as underfunded,

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Speaker 1: and something that definitely has the power to drive a

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Speaker 1: huge amount of change in the industry as well as

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Speaker 1: a huge amount of business, not just right away but

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Speaker 1: in the future. So UM, I'm excited to see what

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Speaker 1: this community is in the lead to. I mean, I

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Speaker 1: think the reason why I started with these services is

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Speaker 1: because I felt like nobody was offering it to them. So,

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Speaker 1: I mean, can you name another Can you name another

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Speaker 1: digital platform that's creating content specifically for them in their

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Speaker 1: voice that's cool and fun and youthful that you know?

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Speaker 1: I can't, you know? Can you name another digital mentoring

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Speaker 1: service like I can't? You know? So I think that

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Speaker 1: it's untapped, and we're excited that we're kind of the

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Speaker 1: first ones to this, But I really hope that more

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Speaker 1: more people decide to invest in women's sports because there's

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Speaker 1: so much potential and just there hasn't been enough focus. Well, staff,

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Speaker 1: it was really really good to catch up with you.

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Speaker 1: Thank you so much. Great to get an update and

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Speaker 1: obviously more to come on so many of these issues,

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Speaker 1: and we look forward to catch an up in the

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Speaker 1: not too distant future. Thank you, yes, thank you so

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Speaker 1: much for having me on this podcast. I really appreciate it.

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Speaker 1: And my last last thing I would love to say,

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Speaker 1: it's just that we have a really big goal of

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Speaker 1: twenty three thousand Biz Advocate by the fiftieth anniversary of

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Speaker 1: Title nine and it is going to be one of

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Speaker 1: the largest grassroots initiative um for girls and women in

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Speaker 1: sports ever. But it's going to take a mountain of

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Speaker 1: people to help us get there. So if you know

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Speaker 1: an amazing female athlete who cares about equality and driving change,

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Speaker 1: had them, you know, shout them out to go to

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Speaker 1: the sports dot com to become a biz Advocate. We're

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Speaker 1: rooting for you. Thank you so much. This is the

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Speaker 1: Bloomberg Business of Sports podcast on Michael bar You can

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00:23:35,560 --> 00:23:37,879
Speaker 1: follow me on Twitter at Big Bar Sports and on

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00:23:38,000 --> 00:23:40,320
Speaker 1: Mike Lynch you can follow me at Lynch e w CVB.

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00:23:40,520 --> 00:23:42,479
Speaker 1: And I have Jason Kelly follow me on Twitter at

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Speaker 1: Jason Kelly News. We're here each and every Monday, Wednesday

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00:23:45,000 --> 00:23:47,720
Speaker 1: and Thursday exploring the world of money in sports. Join

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00:23:47,800 --> 00:23:50,080
Speaker 1: us again. As the week goes on, We're gonna bring

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Speaker 1: you our conversation with NBA legend and YEP, Georgetown a

422
00:23:53,720 --> 00:23:57,359
Speaker 1: hawayas head coach Patrick Ewing That drops on Wednesday, and

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Speaker 1: later on in the week, we're going to catch up

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00:23:59,760 --> 00:24:04,880
Speaker 1: with Randy Levine, president of the New York Yankees. You're

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00:24:04,920 --> 00:24:08,880
Speaker 1: listening to Bloomberg Business of Sports on Bloomberg Radio around

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Speaker 1: the world and online wherever you get your podcasts.