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Speaker 1: This is Bloomberg Business of Sports.

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Speaker 2: Sports is business, and whenever you are procuring chalent, you

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Speaker 2: must start with the criteriating.

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Speaker 3: Owners of this league and wanting our lead to be

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Speaker 3: the best in the world.

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Speaker 4: How do we make it better?

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Speaker 5: The valuations are getting so high to list of people

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Speaker 5: who could purchase a teams getting really short.

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Speaker 2: We have eight strategic investment areas.

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Speaker 5: When you look at the world of sports, MBA has

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Speaker 5: already two hundred and ten countries around the world.

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Speaker 3: NFL is an amazing thing for the sports betting industry.

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Speaker 2: We have the World's upcoming in twenty twenty six in

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Speaker 2: North America.

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Speaker 6: Hey, if I get a million dollars, we're going to

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Speaker 6: a school.

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Speaker 1: Trust me.

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Speaker 6: How be you there?

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Speaker 1: Bloomberg Business of Sports from Bloomberg Radio. Oh yeah, Hello,

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Speaker 1: This is.

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Speaker 6: The Bloomberg Business of Sports show. We explore the big

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Speaker 6: money issues in the world of sports.

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Speaker 7: Michael Barr and I'm Demian sas Hour and our worries

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Speaker 7: Garlett Food.

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Speaker 6: She'll join us later in the show. Coming up today,

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Speaker 6: we talk with longtime NBA and nc double A analysts

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Speaker 6: and former player Jay Williams. We'll talk to him about

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Speaker 6: some of the big money media deals happening in sports.

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Speaker 7: He also has a new business venture with Janis Attunkunpo

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Speaker 7: called Improbable Media.

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Speaker 2: I don't know why schools wouldn't have their own production houses.

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Speaker 2: You know, why wouldn't you have your own production house.

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Speaker 2: You're already hiring videographers, editors right to do your social

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Speaker 2: Why wouldn't you partner with a company like us to

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Speaker 2: then go out and say, why aren't we doing a

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Speaker 2: documentary on Zion Williamson.

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Speaker 6: In this journey, all that is on the way on

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Speaker 6: the Bloomberg Business of Sports, But first we tackle a

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Speaker 6: few big stories in the ever changing sports media landscape,

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Speaker 6: Starting with Amazon Amazon.

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Speaker 7: We learned this week that Diamond Sports Group, the struggling

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Speaker 7: regional sports TV network, reached a restruction deal with its

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Speaker 7: debt holders and Amazon.

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Speaker 6: What more on the deal and what it means for

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Speaker 6: regional sports networks and for Amazon's growing sports offerings. We

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Speaker 6: welcome Bloomberg News distressed debt reporter.

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Speaker 1: Boy.

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Speaker 6: I feel bad when you come in like that. Yeah,

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Speaker 6: Eron Hudson, thank you so much for joining us on

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Speaker 6: the Bloomberg Business.

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Speaker 4: Thank you so much. Yeah, no one ever wants to

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Speaker 4: talk to me, so.

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Speaker 6: Yeah, I feel bad. Is like, you know, but I mean,

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Speaker 6: you have so much knowledge about this with Amazon. First

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Speaker 6: of all, what is happening? What is Amazon doing now

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Speaker 6: for a lot of the rsns and it's what about

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Speaker 6: thirty seven of them now?

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Speaker 4: Yeah, so I mean Amazon does stream some live sports,

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Speaker 4: but certainly with this deal with Diamond Sports, this is

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Speaker 4: going to be really unlocking the streaming platform for sports fans,

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Speaker 4: and it's really completely saving Diamond Sports. I mean, Diamond

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Speaker 4: Sports was on its way to a wind down. They

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Speaker 4: were trying to finalize that deal. They are already in bankruptcy,

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Speaker 4: have been in for almost a year. So this is

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Speaker 4: this is a White Night moment for Amazon, and it's

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Speaker 4: what a lot of people were really hoping was going

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Speaker 4: to happen, but it seemed less and less likely and

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Speaker 4: we did have you know, the news came out in

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Speaker 4: December that they were in talks, but again I think

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Speaker 4: a lot of people were thinking talks is very far

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Speaker 4: from an actual deal.

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Speaker 7: Aaron, Good for Diamond Sports Group, but great for Sinclair

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Speaker 7: ticker symbol SBG. I absolutely ripping on this news. I mean,

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Speaker 7: what does this mean for Sinclair? What does this mean

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Speaker 7: for some of the unsecured creditors that own the bonds

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Speaker 7: talk to us about the deal and structurally speaking, what

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Speaker 7: does that mean from you know, for some of these

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Speaker 7: investors and what that means for the company going forward.

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Speaker 5: Yeah.

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Speaker 4: So, I mean it is a bit of a complicated story.

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Speaker 4: In theory. This is great, but it is a little

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Speaker 4: bit complicated in that part of this restructuring deal involves

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Speaker 4: a settlement between right, so Diamond Sports sued Sainclair for

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Speaker 4: you know, wrongly taking about one point five billion. That's

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Speaker 4: the value of that lawsuit sphoning sphening, Yes, it is.

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Speaker 4: It has gotten contentious between the parents Lair and the

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Speaker 4: wholly owned subsidiary Diamond. So they do have a settlement

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Speaker 4: now that is part of this restructuring deal. It's for

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Speaker 4: just under five hundred million, OK. Yeah, so that litigation risk,

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Speaker 4: I mean, you know, it's a settlement, so if it

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Speaker 4: goes forward, that'll be off the table for Saint Clair

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Speaker 4: and I mean for Diamond. For Diamond creditors, you know,

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Speaker 4: they were looking at potentially getting almost almost nothing. You know,

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Speaker 4: there were a few things that you know, might have

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Speaker 4: worked out. This wind down would have had one more

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Speaker 4: year basically like the twenty twenty four seasons of broadcasting,

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Speaker 4: so creditors could have made a little money off of that,

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Speaker 4: but really there was kind of the first lean. The

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Speaker 4: people first in line to get paid, they were going

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Speaker 4: to get paid, but everyone else it was questionable what

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Speaker 4: was going to happen for them. So with Amazon, now

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Speaker 4: Diamond's going to keep operating, so there's a you know,

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Speaker 4: this could all turn around. But I mean the big

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Speaker 4: picture here is whether how people are going to watch

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Speaker 4: live sports and whether watching them on a streaming platform

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Speaker 4: is going to be profitable enough. Because cable cord cutting,

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Speaker 4: that's a big secular trend. It still is the way

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Speaker 4: that a lot of people do watch their sports games.

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Speaker 4: So you know, you have to have a cable, you

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Speaker 4: have to have a TV package of some kind of

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Speaker 4: cable satellite. But now you might be able Now you're

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Speaker 4: going to be able to watch it on prime videos.

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Speaker 4: So does that mean you just get rid of your cable?

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Speaker 4: Like these are kind of the big questions I think.

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Speaker 7: Well, you know, I mean here's my question, right, I mean, effectively,

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Speaker 7: you know, they broke their contract with a lot of

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Speaker 7: these baseball teams, a lot of these regional teams right

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Speaker 7: by going bankrupt in the first place and stopping to

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Speaker 7: air their games. So are those relationships or those deals

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Speaker 7: like the Utah Jazz we had the Utah Jazz president

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Speaker 7: on here, they now have to go it alone. So

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Speaker 7: now that Amazon's kind of bought the rights that they

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Speaker 7: once had, I mean, do they still have those rights?

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Speaker 4: Erin no. So the rights that Amazon is going to

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Speaker 4: get as part of this deal with Diamond are the

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Speaker 4: rights the direct to consumer rights. So those are the

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Speaker 4: rights you need to be able to stream games. Okay,

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Speaker 4: So what Diamond has are those rights for NBA for

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Speaker 4: some some of the NBA, NHL and five MLB teams.

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Speaker 4: So those are the rights that are going to appear

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Speaker 4: on That's what Prime Video is going to be able

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Speaker 4: to stream. If you know, there could be new deals

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Speaker 4: that that that get done, and maybe now that for

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Speaker 4: sure Amazon's in the picture, maybe there will be more

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Speaker 4: to be done. But yes, I mean, you.

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Speaker 7: Know, complicated, right, I mean, it really is because I mean,

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Speaker 7: if you think about it, a lot of these teams

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Speaker 7: have moved on from from from Diamond, right, I mean

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Speaker 7: they are making contingency plans. They've already they're already going

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Speaker 7: down a very you know, a different path and now

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Speaker 7: this happens, right, so are they ready to pivot back?

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Speaker 7: I mean there's a lot of questions there, I guess,

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Speaker 7: you know, for me also, you know, what does this

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Speaker 7: mean for Amazon? Amazon is obviously going to be bidding

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Speaker 7: on the NFL rights that are coming up and a

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Speaker 7: lot of other things that are out there. I wonder

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Speaker 7: how this all kind of packages. Any thoughts there?

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Speaker 4: Yeah, I mean I think it probably just says that

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Speaker 4: Amazon wants these live sports rights. They want to be

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Speaker 4: able to be like kind of a one stop shop,

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Speaker 4: so that for when you do get that streaming subscription,

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Speaker 4: you're just going to Amazon, You're just going to Prime Video.

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Speaker 4: You're not having to deal with like Apple and you know,

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Speaker 4: all the various services. So yeah, I mean it's kind

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Speaker 4: of you know, the best way to get a lot

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Speaker 4: at once is through Diamond, through this bankruptcy. But it's

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Speaker 4: so complicated to figure out the details. And seems like

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Speaker 4: Amazon has struck a deal.

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Speaker 6: So Major League Baseball apparently the officials were totally called

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Speaker 6: off guard about this deal. Can you expand more about that?

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Speaker 4: Yeah, I mean I think right now we have to

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Speaker 4: watch what comes out in the bankruptcy court there, you know,

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Speaker 4: None of this is final. It's all subject to the

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Speaker 4: bankruptcy court, you know, the bankruptcy judge's approval. So yes,

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Speaker 4: they're you know, the base Major League Baseball's lawyer stood

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Speaker 4: up in court and said that this came as a surprise.

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Speaker 4: They're going to have to go through the fine, the

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Speaker 4: fine tooth comb with it. So I think that's a

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Speaker 4: big reporting question that we want to get to the

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Speaker 4: bottom of. You know, thus far in the bankruptcy getting

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Speaker 4: a deal done with Major League Baseball has been a big,

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Speaker 4: a big, a big point of this this bankruptcy case,

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Speaker 4: and something that people have been trying to work on.

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Speaker 4: You know, Diamond was able to get deals done with

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Speaker 4: the NHL and the NBA, but not with the Major

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Speaker 4: League Baseball. So uh, that is those those are the

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Speaker 4: big questions that I think a lot of people involved

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Speaker 4: in this situation want to understand, is what is going

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Speaker 4: on behind the scenes.

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Speaker 7: I'm just curious what these other creditors must be thinking

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Speaker 7: right now, you know, Michael Barr, I mean like I'm thinking,

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Speaker 7: you know, I mean they've I mean, we're hearing reports

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Speaker 7: that they've agreed to provide four hundred fifteen million dollars

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Speaker 7: of new financing only because Amazon's investing as well, and

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Speaker 7: you know, a lot of those proceeds are going to

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Speaker 7: be used to pay off their senior debt holders. I'm

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Speaker 7: just you know, is this is I mean, explain for

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Speaker 7: me at this part you know of the process. Is

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Speaker 7: that a done deal? Is that set in stone? Could

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Speaker 7: that change? I mean, how many moving parts are there?

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Speaker 2: Is this?

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Speaker 7: I mean what kind of probability would you assign on

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Speaker 7: this kind of a deal getting done.

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Speaker 4: Look, I think there's a lot of people who are

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Speaker 4: celebrating right now, who are thinking, finally we've got one

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Speaker 4: of the big streamers, Amazon in here. That was when

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Speaker 4: people thought about diamond sports, like thinking a year two

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Speaker 4: years ago, they were saying live sports, everyone watches live sports,

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Speaker 4: it will always be valuable, and all the streamers want it.

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Speaker 4: So this, you know, it's this is a good bet.

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Speaker 4: But obviously everything has gone sideways since then, and now

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Speaker 4: there's this you know, last minute deal that has come together,

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Speaker 4: super complicated. It could all get derailed if the judge

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Speaker 4: doesn't approve it. And yeah, I think you know, in

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Speaker 4: the last year, whenever I would talk to some of

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Speaker 4: the folks, uh in the distressed debt world who were

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Speaker 4: familiar with this situation. I mean they just kind of grown, like,

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Speaker 4: think about how much of a message is, you know,

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Speaker 4: either because they're in it or they're just watching from afar.

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Speaker 4: It's a tough one and people have lost. People have

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Speaker 4: lost a lot of money. So the hope is that

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Speaker 4: now with this Amazon deal, in the long term it's

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Speaker 4: going to have turned around. The only people who are

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Speaker 4: who are for sure getting paid back are the people

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Speaker 4: who are first in line, these first lean creditors. They're

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Speaker 4: the they're the ones who.

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Speaker 7: Are senior in the capitol structure.

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Speaker 4: The one's getting the most here now.

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Speaker 6: And this is official, folks. Bloomberg News Distressed Debt reporter

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Speaker 6: Aaron Hudson, you are so kind to coming to Thank you, sEH,

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Speaker 6: thank you so much. Coming up all the show, we

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Speaker 6: turned to the future of the NBA's media deals. Straight Ahead,

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Speaker 6: the Bloomberg Business of Sports from Bloomberg Radio.

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Speaker 1: Around the world, You're listening to Bloomberg Business of Sports

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Speaker 1: from Bloomberg Radio.

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Speaker 6: This is the Bloomberg Business of Sports show, but we

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Speaker 6: explore the big money issues in the world of sports.

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Speaker 6: I'm Michael bar for Scarlett Food and Damian Sasauer. We're

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Speaker 6: talking media deals on the show today. Legacy media companies

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Speaker 6: looking to find their way in the changing environment.

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Speaker 7: And new tech companies like Apple and Amazon are forcing

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Speaker 7: their way onto the market.

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Speaker 6: And one of the big fish, the NBA, will be

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Speaker 6: at the negotiating table soon. Damien and I got a

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Speaker 6: chance to talk with Bloomberg News Global business reporter Ira Budwe.

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Speaker 6: He has an article in the Year Ahead issue of

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Speaker 6: Bloomberg Business Week magazine about the NBA's new national TV contract.

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Speaker 6: Let's take a listen to our conversation.

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Speaker 5: They're beginning to negotiate their next national TV deal, and

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Speaker 5: nobody expects that it will end with them not having

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Speaker 5: some streaming partner. Every other league, you know, the NFL,

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Speaker 5: major League Baseball, they've all begun to dip their toes

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Speaker 5: in with the big tech giants and streaming partners because

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Speaker 5: that is where the audience is moving.

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Speaker 7: So talk to us about these contracts. I mean, here's

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Speaker 7: the deal. We know the NBA's contract expires in twenty

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Speaker 7: twenty five, so I think the word on the street,

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Speaker 7: Ira is that they're going to renegotiate this year, right,

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Speaker 7: So we should hear something here in twenty twenty four

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Speaker 7: as to what these contracts will look like. I'm just

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Speaker 7: going to give a number out here, a pair of

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Speaker 7: nine year deals with Walt Disney and Warner Brothers Discovery

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Speaker 7: for a combined twenty four billion dollars. What can we

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Speaker 7: expect that number to turn into in twenty twenty four.

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Speaker 5: It'll be very interesting. A lot of people are watching.

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Speaker 5: So those two incumbents, Warner Brothers, Discovery, Disney, they get

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Speaker 5: to have an exclusive window starting March ninth, although a

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Speaker 5: lot of people say they're not going to wait till

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Speaker 5: then to bring some bids to the table, and so

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Speaker 5: we will find out maybe not too long after that,

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Speaker 5: who's in and how much much they're paying. You know,

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Speaker 5: when that deal happened ten years ago, it was a

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Speaker 5: tripling of the money they had in the previous deal,

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Speaker 5: and so that's kind of the benchmark. But most people

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Speaker 5: I'm talking with don't think they're going to be able

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Speaker 5: to triple it again, and that even to get close,

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Speaker 5: they're probably going to have to expand the number of

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Speaker 5: partners they're working with. So probably Disney Slash, ESPN, ABC

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Speaker 5: come back, Probably Warner Brothers Discovery with TNT come back,

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Speaker 5: but then they're probably going to add to that, and

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Speaker 5: what exactly that looks like is really what's going to

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Speaker 5: be interesting to see.

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Speaker 7: So it's interesting is that that contract has resulted in

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Speaker 7: huge multi I mean hundreds of millions of dollars in

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Speaker 7: massive contracts, supermax contracts, NBA stars, you know, over the

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Speaker 7: better part of the last decade. Just how high can

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Speaker 7: those salaries go up from here?

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Speaker 6: Right?

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Speaker 7: I mean, does this mean once this deal has done

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Speaker 7: that you're going to see Steph Curry supermax deals going

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Speaker 7: you know, gangbusters? I mean, what can we expect?

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Speaker 6: You know?

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Speaker 5: I think it's interesting because one of the things that

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Speaker 5: everyone is waiting for this deal partly because they want

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Speaker 5: I think the league pretty clearly wants to expand into

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Speaker 5: more cities. Everybody thinks Seattle, Las Vegas are the natural choices.

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Speaker 5: But the league splits this money between it's thirty teams,

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Speaker 5: so they want to know what they're divvying up before

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Speaker 5: they figure out how much to charge the new owners

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Speaker 5: who get the new teams, and how much they're going

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Speaker 5: to be paying players. So it is the largest single

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Speaker 5: revenue stream for the league, so so much depends, as

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Speaker 5: you say, on how much they can get, and if

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Speaker 5: they want both player pay and franchise valuations to keep

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Speaker 5: moving up as they have been for the last decade,

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Speaker 5: they're going to need this deal to be significantly bigger

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Speaker 5: than the last one.

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Speaker 6: You put it in your article about how the landscape

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Speaker 6: has changed from the people who are cable subscribers. Back

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Speaker 6: when the original deal twenty fourteen was set up, it

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Speaker 6: was about one hundred million subscribers, and now it's down

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Speaker 6: to seventy five million. That's a lot of people.

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Speaker 5: Yeah, I mean that those are the headwinds that the

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Speaker 5: league is going to be working against. Right that the

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Speaker 5: cable bundle is slowly going away, we don't know where

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Speaker 5: the floor is, and the big legacy media companies are

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Speaker 5: kind of in cost cutting mode right now. There's a

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Speaker 5: lot of consolidation. You know, it's not even clear some

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Speaker 5: of the partners they're talking to maybe will be merging

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Speaker 5: in the meantime. So so you're not going to be able.

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Speaker 5: The League's not going to be able to just go

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Speaker 5: to the table with the same deal it had last

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Speaker 5: time and say now the price is three x sign here,

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Speaker 5: it's going to be different. They're going to have to

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Speaker 5: slice off different packages and things, and they're going to

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Speaker 5: have to go to a streaming partner because that's especially

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Speaker 5: where younger viewers are, and the NBA has a relatively

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Speaker 5: young viewership among big sports properties.

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Speaker 6: But they're losing money right now, all the streamers right now,

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Speaker 6: not the subscribers, but I'm talking about the people who

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Speaker 6: are putting out the stream they're still losing money.

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Speaker 5: With this, right That's why they're in cost cutting mode,

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Speaker 5: right like the big Disney and the others are squeeze.

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Speaker 5: They're in a squeeze between the attrition and the cable

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Speaker 5: bundle and the fact that Disney plus you name at,

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Speaker 5: Paramount plus Peacock, these things are still money losers for now.

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Speaker 5: So they're going to have to invest in the NBA

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Speaker 5: because it's it's still one of the best ways to

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Speaker 5: get a large, live, simultaneous audience. But they're not necessarily

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Speaker 5: feeling flush as they go to the table.

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Speaker 7: So it's interesting, right, I mean, and I didn't know

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Speaker 7: that Disney and Warner Brothers are going to be given

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Speaker 7: that sort of first rite of refusal. I don't know

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Speaker 7: if it's first right of refusal is the right way

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Speaker 7: to put it, but certainly they're going to get a

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Speaker 7: first look here, and you know, I just have to think, Okay,

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Speaker 7: there's those two, but then you've got what Comcast, Paramount, Alphabet, Amazon, Apple?

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Speaker 7: Am I missing anyone? I mean, who else is going

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Speaker 7: to be considered a big player in this in this

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Speaker 7: negotiating deal.

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Speaker 5: I think that's mainly the list. You could say Netflix maybe,

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Speaker 5: you know, it kind of depends. There has been some

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Speaker 5: talk of Netflix buying into this new inn season tournament

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Speaker 5: that the league started this year, and then also trying

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Speaker 5: to package with that some sort of access for an

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Speaker 5: in depth docu series. And that's the kind of sort

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Speaker 5: out of the box thinking that's going to have to

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Speaker 5: happen here to bring in some of these streaming partners.

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Speaker 5: You know, you can do things like exclusive Friday night

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Speaker 5: window for a streaming partner. Right this in season tournament

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Speaker 5: I think was partly designed to be a distinct piece

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Speaker 5: of inventory.

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Speaker 7: So talk to me about you know, who's running the

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Speaker 7: bidding process, right, I mean, does the NBA itself have

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Speaker 7: they hired some sort of you know, a law firm

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Speaker 7: or some sort of vetting. You know, somebody, some third

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Speaker 7: party who's going to go in there is going to

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Speaker 7: receive the bids is going to be like a data center.

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Speaker 7: I mean, how does this work? Do we have any

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Speaker 7: color on it?

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Speaker 5: My sense is that it happens mostly at the c

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Speaker 5: suite level within these companies. You're talking about maybe Deputy

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Speaker 5: Commissioner Tatum, but certainly Adam Silver, Like, they are participating

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Speaker 5: themselves in this because it's such a big deal. So

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Speaker 5: they are talking with, you know, the top people or

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Speaker 5: in some cases people you know who are in charge

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Speaker 5: of the sports slash streaming departments at these companies directly.

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Speaker 6: For the most part, he said something when you talked

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Speaker 6: about your article and you talk to a sports media

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Speaker 6: consultant at Dessa, and he probably had the quote of

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Speaker 6: the whole thing is like, look, you got a fish

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Speaker 6: where the fish are? Yeah?

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Speaker 5: No, the you know, I think the leagues would love

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Speaker 5: to just keep going with the status quo, but it's

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Speaker 5: just not an option. So yeah, if you want to

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Speaker 5: find the audience, the deals might not be as lucrative

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Speaker 5: and the audiences might not be as big, but that's

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Speaker 5: where they are, and so you got to figure out

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Speaker 5: ways to reach them there.

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Speaker 7: I mean, I'm thinking in terms of domestic rights, but

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Speaker 7: what about the international rights to error? The NBA abroad,

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Speaker 7: I mean, is that part of this deal or no.

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Speaker 5: I think that more and more you will see global

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Speaker 5: deals start to happen, right, right, So you look at

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Speaker 5: the NBA has a game in Paris. That's a big

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Speaker 5: piece of that is sort of grassroots, keeping the talent

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Speaker 5: pipeline going. But another piece of that is obviously marketing

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Speaker 5: and cultivating that fan base. And I think the leagues,

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Speaker 5: the NBA, which is a global league very much, is

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Speaker 5: going to start to try to figure out ways to

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Speaker 5: be able to offer these tech giants who are also

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Speaker 5: global businesses rights deals that are worldwide, slicing them up

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Speaker 5: market by market.

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Speaker 6: There was a service where they would offer like what

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Speaker 6: the last quarter or the last two minutes of the game.

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Speaker 6: What happened to that? Is that still around?

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Speaker 5: I think that so the NBA's own streaming package, right,

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Speaker 5: it's out of market package that they do. They still

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Speaker 5: run that themselves, right, and so you can buy that

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Speaker 5: and one of the increments that you can buy in

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Speaker 5: is a single game or less. I believe they still

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Speaker 5: offer the final quarter, you know, for two bucks arrangement.

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Speaker 5: I don't know how many people use it, but they

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Speaker 5: in terms of getting out of market game stream to

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Speaker 5: your phone through the league directly. That's still an option, right,

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Speaker 5: and I think you will see leagues try to figure

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Speaker 5: out whether they want to do that kind of direct

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Speaker 5: consumer work more themselves, or whether they want to offload

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Speaker 5: that to somebody like Amazon who might be interested in it.

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Speaker 6: That's Bloomberg News Global Business reporter Ira Budua. His story

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Speaker 6: on the upcoming NBA media rights negotiations is part of

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Speaker 6: Bloomberg Business Week's Year Ahead issue. Check that out at

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Speaker 6: Bloomberg dot com, slash BusinessWeek, on newsstands and on the

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Speaker 6: Bloomberg terminal. Up next, we talked with longtime basketball analysts

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Speaker 6: Jay Williams. You're listening to the Bloomberg Business of Sports

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Speaker 6: from Bloomberg Radio around the world.

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Speaker 1: This is Bloomberg Business of Sports from Bloomberg Radio.

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Speaker 6: Thanks for joining us on the Bloomberg Business of Sports show,

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Speaker 6: where we explore the big money issues in the world

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Speaker 6: of sports. I'm Michael Barr for Scarlett Food and Damian Sasaur.

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Speaker 6: We're talking media deals on the show today. Longtime ESPN

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Speaker 6: basketball analyst and radio host Jay Williams knows a thing

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Speaker 6: or two about sports media. On top of his career

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Speaker 6: behind the mic and on screen breaking down games. He

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Speaker 6: is co founder of a brand new venture called Improbable

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Speaker 6: Media Adventure he launched with NBA superstar Janis Ontotokumpo. And

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Speaker 6: guess who we have on the line right now. It's

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Speaker 6: Jay Williams, co founder. Welcome to the Bloomberg Business and Sports.

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Speaker 2: Hey. I appreciate Michael, I was gonna say to I'm

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Speaker 2: sure a lot of people were hoping that it was

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Speaker 2: going to be honest. Nope, And I'm okay with that.

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Speaker 2: I'm okay with being in the background.

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Speaker 6: We got two good ones. Man, We appreciate it. Man,

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Speaker 6: Well tell us about it. What is Improbable Media.

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Speaker 2: I've had an interesting stint being involved in media for

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Speaker 2: the last nineteen years after my short stint in the NBA,

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Speaker 2: and I've been very fortunate to work with you know,

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Speaker 2: Lebron and Maverick from when they kind of were springboarding

439
00:21:39,320 --> 00:21:42,600
Speaker 2: spring Hill, doing a series with them on YouTube and

440
00:21:42,680 --> 00:21:44,960
Speaker 2: kind of got a chance to see both sides of

441
00:21:45,000 --> 00:21:47,399
Speaker 2: the equation as an executive producer and as a talent

442
00:21:47,800 --> 00:21:50,439
Speaker 2: within that series, and then work with Kat Kevin Durant

443
00:21:50,440 --> 00:21:52,960
Speaker 2: and Rich Climban to sell two seasons of the boardroom

444
00:21:53,240 --> 00:21:57,320
Speaker 2: about the intersection between sports business and finance to ESPN,

445
00:21:57,640 --> 00:22:00,200
Speaker 2: and then frankly, I started thinking about how I can

446
00:22:00,040 --> 00:22:03,160
Speaker 2: can work with athletes on a lot of the untapped

447
00:22:03,240 --> 00:22:07,399
Speaker 2: revenue around them from production dollars also to creation and

448
00:22:07,440 --> 00:22:11,280
Speaker 2: ideation dollars that typically that money goes to third party agencies,

449
00:22:11,400 --> 00:22:14,639
Speaker 2: And kind of through conversations with the Honest and his agent,

450
00:22:14,760 --> 00:22:17,560
Speaker 2: put together our heads and thought of the name Improbable,

451
00:22:17,640 --> 00:22:19,119
Speaker 2: just because you know, we're always trying to make the

452
00:22:19,200 --> 00:22:23,760
Speaker 2: improbable probable with both our stories, him being from Nigerian descent,

453
00:22:24,320 --> 00:22:27,800
Speaker 2: also myself and my accident and my own comeback story.

454
00:22:27,920 --> 00:22:30,560
Speaker 2: So I think you know, the goal is to become

455
00:22:30,600 --> 00:22:35,560
Speaker 2: the pepsicola of brands underneath us. What's helping athletes kind

456
00:22:35,560 --> 00:22:40,080
Speaker 2: of really monetize their ecosystems in today's age when so

457
00:22:40,119 --> 00:22:43,399
Speaker 2: many investments and their portfolios are changing quickly in this

458
00:22:43,440 --> 00:22:44,080
Speaker 2: new environment.

459
00:22:44,520 --> 00:22:48,239
Speaker 3: So you mentioned YouTube, I'm curious to hear where the

460
00:22:48,240 --> 00:22:52,680
Speaker 3: production that Improblem Media is putting out will be seen.

461
00:22:52,800 --> 00:22:54,760
Speaker 3: Is it going to be on YouTube? Is a goal

462
00:22:54,800 --> 00:22:57,800
Speaker 3: to find a partner like Netflix or Amazon Prime or

463
00:22:57,840 --> 00:22:59,240
Speaker 3: Hulu to distribute it that way?

464
00:22:59,760 --> 00:23:02,840
Speaker 2: So we have our first doc coming out, but we

465
00:23:02,920 --> 00:23:06,359
Speaker 2: have two. We actually performed one for WhatsApp that Jannis,

466
00:23:06,400 --> 00:23:08,359
Speaker 2: like I said, we're both of Nigerian descent, he actually

467
00:23:08,400 --> 00:23:12,600
Speaker 2: went back to the homeland of Nigeria and actually experiencing,

468
00:23:13,000 --> 00:23:15,160
Speaker 2: you know, where his family's from for the first time

469
00:23:15,200 --> 00:23:17,040
Speaker 2: in his life. So they were able to document that.

470
00:23:17,200 --> 00:23:20,159
Speaker 2: And we also have Giannis The Miraculous Journey, which we

471
00:23:20,240 --> 00:23:22,440
Speaker 2: did with Word and Picks Connor Schell who ran thirty

472
00:23:22,440 --> 00:23:25,760
Speaker 2: for thirty over at ESPN for a long stint. Kristin

473
00:23:25,840 --> 00:23:30,800
Speaker 2: Lapis directed. It is actually premiering in February, right after

474
00:23:30,840 --> 00:23:33,400
Speaker 2: the All Star Game, just on you know, the true

475
00:23:33,440 --> 00:23:36,520
Speaker 2: story of how Yannis and his family they lost his father,

476
00:23:37,600 --> 00:23:40,240
Speaker 2: and the story of all three of his brothers, and

477
00:23:40,840 --> 00:23:43,800
Speaker 2: you know, even Jannis is incredible. But you know, Tanasi,

478
00:23:44,520 --> 00:23:47,439
Speaker 2: it's how you say his name in Greek is his

479
00:23:47,560 --> 00:23:50,800
Speaker 2: oldest brother is truly one of the inspirations of the family.

480
00:23:50,840 --> 00:23:54,040
Speaker 2: So I think people understanding where they were, how they

481
00:23:54,080 --> 00:23:56,760
Speaker 2: got here, the background of yet in Greece, I think

482
00:23:56,800 --> 00:23:57,800
Speaker 2: all of it is pretty important.

483
00:23:57,960 --> 00:24:00,440
Speaker 7: Jay, you know, I'm looking for our audience, know, I mean,

484
00:24:00,600 --> 00:24:02,800
Speaker 7: it needs no introduction. Jay Williams was the number two

485
00:24:02,880 --> 00:24:06,760
Speaker 7: pick overall by the Chicago Bulls after an incredible collegiate

486
00:24:06,840 --> 00:24:09,520
Speaker 7: career at at Duke University. I mean for the Blue Devils,

487
00:24:09,520 --> 00:24:12,679
Speaker 7: for Rzewsky and and you know, obviously, you know, a

488
00:24:12,680 --> 00:24:16,000
Speaker 7: motorcycle accident cut your professional career short and the comeback

489
00:24:16,000 --> 00:24:17,720
Speaker 7: that goes hand in hand with that. But you know,

490
00:24:17,880 --> 00:24:19,919
Speaker 7: let's just stick with the content here because it's all

491
00:24:19,920 --> 00:24:23,640
Speaker 7: about fresh content. And I often have this conversation with Scarlett,

492
00:24:23,680 --> 00:24:26,640
Speaker 7: you know, and Michael, you know what stories have yet

493
00:24:26,680 --> 00:24:28,600
Speaker 7: to be told in professional sports? I mean, what are

494
00:24:28,640 --> 00:24:30,200
Speaker 7: you hearing? What's interesting out there?

495
00:24:30,240 --> 00:24:33,280
Speaker 2: There's a ton well it's just not stories, but it's

496
00:24:33,320 --> 00:24:36,320
Speaker 2: also you know how, I'll give you guys an example,

497
00:24:36,440 --> 00:24:40,560
Speaker 2: Like obviously right now, Nil is a really big challenge.

498
00:24:40,800 --> 00:24:43,360
Speaker 2: You know. One of the things that I see happening.

499
00:24:43,440 --> 00:24:45,240
Speaker 2: Whether you know, we have a lot of big time

500
00:24:45,280 --> 00:24:49,400
Speaker 2: people that retire. Nick Saban just retire from Alabama. But inevitably,

501
00:24:49,560 --> 00:24:52,800
Speaker 2: I don't know why schools wouldn't have their own production houses,

502
00:24:53,200 --> 00:24:56,000
Speaker 2: right And you know, if you're Duke, you know, why

503
00:24:56,000 --> 00:24:58,960
Speaker 2: wouldn't you have your own production house? You're already hiring

504
00:24:59,040 --> 00:25:02,600
Speaker 2: videographers at a right to do your social Why wouldn't

505
00:25:02,640 --> 00:25:06,200
Speaker 2: you partner with a company like us? So then go

506
00:25:06,240 --> 00:25:09,879
Speaker 2: out and say, why aren't we doing a documentary on

507
00:25:10,160 --> 00:25:13,800
Speaker 2: Zion Williamson in his journey? And we have IP and

508
00:25:13,840 --> 00:25:16,320
Speaker 2: we have footage of his time here at Duke And

509
00:25:16,359 --> 00:25:18,640
Speaker 2: this allows us to be an executive producer and once

510
00:25:18,680 --> 00:25:22,200
Speaker 2: again like untapped revenue around that model. So I think

511
00:25:22,200 --> 00:25:24,920
Speaker 2: there are incredible stories that are happening. I'll give you

512
00:25:24,960 --> 00:25:28,119
Speaker 2: another example, and I am gung ho on who she

513
00:25:28,280 --> 00:25:31,159
Speaker 2: is as a person, but also her brand. Kaitlyn Clark

514
00:25:31,400 --> 00:25:34,440
Speaker 2: is the WNBA needs Kaitlyn Clark more than Kaitlyn Clark

515
00:25:34,480 --> 00:25:38,359
Speaker 2: needs a WNP. And you know, people are you know,

516
00:25:39,040 --> 00:25:41,080
Speaker 2: you know, Scarlett, I'm sure you have appreciate this, you know,

517
00:25:41,119 --> 00:25:44,800
Speaker 2: within women's basketball, and I appreciate this having two daughters.

518
00:25:45,000 --> 00:25:48,040
Speaker 2: I'm watching the way the pipes of distribution behind ESPN.

519
00:25:48,119 --> 00:25:51,920
Speaker 2: They're really behind her, and we sell her and everything

520
00:25:51,960 --> 00:25:55,040
Speaker 2: we do around women's basketball. And you can make a

521
00:25:55,080 --> 00:25:58,040
Speaker 2: case that with nil, she's going to earn exponentially, maybe

522
00:25:58,119 --> 00:26:01,880
Speaker 2: seven to ten x more next year she stayed in

523
00:26:01,920 --> 00:26:05,240
Speaker 2: college and she will be the most famous basketball player

524
00:26:05,760 --> 00:26:08,879
Speaker 2: in all of collegiate sports. So I think stories like

525
00:26:08,880 --> 00:26:11,160
Speaker 2: that and how schools are going about it are really

526
00:26:11,160 --> 00:26:11,919
Speaker 2: intriguing to me.

527
00:26:12,440 --> 00:26:16,680
Speaker 6: Yeah, Caitlyn Clark, you talk about someone that just blew

528
00:26:16,720 --> 00:26:19,480
Speaker 6: me away. When I saw her play, I'm like, oh

529
00:26:19,520 --> 00:26:23,680
Speaker 6: my god, this young lady has got it going on

530
00:26:24,480 --> 00:26:28,160
Speaker 6: to the point which brings up this question one day

531
00:26:28,600 --> 00:26:32,280
Speaker 6: where you're going to see a woman in the NBA,

532
00:26:32,800 --> 00:26:38,199
Speaker 6: not just the WNBA, but the NBA because she is

533
00:26:38,320 --> 00:26:39,640
Speaker 6: extremely talented.

534
00:26:39,880 --> 00:26:42,600
Speaker 2: Well, Michael also, and you can push the boundary to

535
00:26:42,640 --> 00:26:45,520
Speaker 2: this point if there are new leagues that are being

536
00:26:45,560 --> 00:26:47,879
Speaker 2: out there, that are being pitched to be formed, especially

537
00:26:47,960 --> 00:26:52,600
Speaker 2: in the summertime around women's basketball, and if Kaitlyn Clark

538
00:26:52,720 --> 00:26:55,800
Speaker 2: were to get to a point, why wouldn't she spearhead

539
00:26:55,840 --> 00:26:59,399
Speaker 2: a new league with a completely different economic system. I

540
00:26:59,440 --> 00:27:01,840
Speaker 2: get a chance to be around a lot of incredible people,

541
00:27:01,880 --> 00:27:05,320
Speaker 2: Mark Lazry being one, and what they're doing over Avenue

542
00:27:05,359 --> 00:27:08,359
Speaker 2: Capital and himbraising funds for their sports funds. So you

543
00:27:08,359 --> 00:27:11,159
Speaker 2: get a chance to see all these new leagues that

544
00:27:11,200 --> 00:27:14,240
Speaker 2: are being established, whether that's you know, sale GP, whether

545
00:27:14,280 --> 00:27:18,320
Speaker 2: that's Professional po bull Riding PBR and women's sports. When

546
00:27:18,320 --> 00:27:21,560
Speaker 2: I go to all these conferences from you know, Bloomberg Conference,

547
00:27:21,560 --> 00:27:24,480
Speaker 2: the Sports business journal, the Sporticle, the front off of sports.

548
00:27:24,880 --> 00:27:27,480
Speaker 2: The amount of people that are looking to invest because

549
00:27:27,480 --> 00:27:30,560
Speaker 2: of the entry point into women's sports is greater now

550
00:27:30,600 --> 00:27:33,280
Speaker 2: than it's ever been before. So why not for a

551
00:27:33,320 --> 00:27:36,800
Speaker 2: person who has the largest brand in all of women's sports,

552
00:27:37,160 --> 00:27:40,320
Speaker 2: why not partner with other women athletes and form a

553
00:27:40,359 --> 00:27:41,120
Speaker 2: different league.

554
00:27:41,280 --> 00:27:43,600
Speaker 7: So, Jay, then I have to ask you. You know

555
00:27:43,640 --> 00:27:46,600
Speaker 7: you are a duke blue devil Cooper Flagg. I mean,

556
00:27:46,760 --> 00:27:48,880
Speaker 7: talk to us about John Shire, talk to us about

557
00:27:48,880 --> 00:27:51,120
Speaker 7: the team. I know your four and one in division.

558
00:27:51,160 --> 00:27:51,520
Speaker 6: This year.

559
00:27:51,680 --> 00:27:53,399
Speaker 7: My son goes to University of Miami. We're going to

560
00:27:53,440 --> 00:27:54,720
Speaker 7: be playing you in a few weeks and I will

561
00:27:54,720 --> 00:27:56,440
Speaker 7: be there. Talk to us about the team, talk to

562
00:27:56,520 --> 00:27:58,119
Speaker 7: us about how things are looking.

563
00:27:58,320 --> 00:28:02,040
Speaker 2: Yeah, you know, the AEC over role is an interesting conference.

564
00:28:02,480 --> 00:28:03,800
Speaker 2: I don't know if you guys have heard about this.

565
00:28:03,840 --> 00:28:05,119
Speaker 2: And I'll get the duke in a second. But you know,

566
00:28:05,119 --> 00:28:08,399
Speaker 2: you've got Florida State on the football side. Football drives

567
00:28:08,400 --> 00:28:10,960
Speaker 2: the most revenue. You've got JP Morgan, You've got Sixth

568
00:28:10,960 --> 00:28:14,320
Speaker 2: Street Capital, private equity firm that are trying to pay

569
00:28:14,359 --> 00:28:16,800
Speaker 2: over two hundred million dollars to get Florida State out

570
00:28:16,800 --> 00:28:20,080
Speaker 2: of the ACC to the Big Ten. Now with all

571
00:28:20,119 --> 00:28:23,160
Speaker 2: this conference realignment, and Florida State has a legitimate case,

572
00:28:23,200 --> 00:28:25,640
Speaker 2: right Like you know, their football team brings in more

573
00:28:25,680 --> 00:28:27,919
Speaker 2: revenue than the Boston College and there shouldn't be an

574
00:28:27,920 --> 00:28:30,840
Speaker 2: equal split. So I think we're getting interesting times in

575
00:28:30,920 --> 00:28:33,840
Speaker 2: ACC as we try to bring more teams into the conference.

576
00:28:33,880 --> 00:28:36,520
Speaker 2: Maybe we'll go to relegation and one team might have

577
00:28:36,560 --> 00:28:38,320
Speaker 2: to move up to a certain slot if they want

578
00:28:38,320 --> 00:28:40,200
Speaker 2: a certain amount of games to share in the revenue more.

579
00:28:40,560 --> 00:28:42,080
Speaker 2: But I think Duke is always going to be at

580
00:28:42,080 --> 00:28:45,560
Speaker 2: that top threshold of the conference. And whenever you're feeling

581
00:28:45,560 --> 00:28:48,360
Speaker 2: in the shoes for a guy like coach k john

582
00:28:48,400 --> 00:28:53,600
Speaker 2: Shire has his hands full. But Cooper Flag might be

583
00:28:53,640 --> 00:28:57,040
Speaker 2: the most exciting player that we've had in college basketball

584
00:28:57,600 --> 00:29:01,480
Speaker 2: since you know Trey Youngers Oniamson. And what I mean

585
00:29:01,520 --> 00:29:04,200
Speaker 2: by that, well, thank you, But what I mean by

586
00:29:04,200 --> 00:29:06,560
Speaker 2: that is, think about like this year, we just sat

587
00:29:06,600 --> 00:29:09,080
Speaker 2: here and talked about Caitlyn Clark, who is the I'll

588
00:29:09,080 --> 00:29:12,040
Speaker 2: ask you guys, who is the biggest college basketball player

589
00:29:12,080 --> 00:29:13,600
Speaker 2: on the men's side, Do you guys know.

590
00:29:14,200 --> 00:29:17,760
Speaker 7: I honestly, I can't really think of anyone this year.

591
00:29:18,400 --> 00:29:21,280
Speaker 2: Yeah, Damien, that's my challenge, right, And I can make

592
00:29:21,320 --> 00:29:25,480
Speaker 2: the case that's probably Bronnie James because the lebron James

593
00:29:25,480 --> 00:29:27,520
Speaker 2: that you will see, but Bronnie James isn't putting up

594
00:29:27,520 --> 00:29:30,040
Speaker 2: the numbers of an elite caliber player. Now, there are

595
00:29:30,280 --> 00:29:34,200
Speaker 2: talented players, but no players that you see media engines

596
00:29:34,240 --> 00:29:38,720
Speaker 2: behind pushing to the general public associating with college basketball.

597
00:29:39,120 --> 00:29:42,480
Speaker 2: So that's where I think Cooper Flag you will see

598
00:29:42,560 --> 00:29:44,920
Speaker 2: him everywhere next year the same way you have seen

599
00:29:45,000 --> 00:29:48,640
Speaker 2: Caitlyn Clark because he has that personality, he has that

600
00:29:48,720 --> 00:29:53,080
Speaker 2: foul in that play, and you will see between box, ESPN,

601
00:29:53,560 --> 00:29:58,120
Speaker 2: gambling companies, his name will resonate differently. So I think

602
00:29:58,160 --> 00:30:01,760
Speaker 2: that's the opportunity for a guy I like him and Duke,

603
00:30:01,800 --> 00:30:04,480
Speaker 2: for them to marry that brand together to become extremely

604
00:30:04,520 --> 00:30:05,120
Speaker 2: more relevant.

605
00:30:05,200 --> 00:30:06,880
Speaker 3: I want to get an idea from you, Jay on

606
00:30:06,960 --> 00:30:10,840
Speaker 3: what you think about the new eight year, nine hundred

607
00:30:10,880 --> 00:30:13,280
Speaker 3: and twenty million dollar deal for media rights that ESPN

608
00:30:13,360 --> 00:30:15,920
Speaker 3: and the NCAA signed. What does it mean for sports

609
00:30:15,920 --> 00:30:17,280
Speaker 3: beyond college basketball?

610
00:30:19,120 --> 00:30:19,280
Speaker 6: Uh?

611
00:30:19,440 --> 00:30:25,040
Speaker 2: I mean, Scarlett, I love that your nickname is bulldog Scarlett.

612
00:30:26,240 --> 00:30:28,040
Speaker 2: I'm going to go bulldog now as well. I mean,

613
00:30:28,120 --> 00:30:31,040
Speaker 2: I don't know how we do not go to a

614
00:30:31,120 --> 00:30:33,800
Speaker 2: reb share model on how we do not go towards

615
00:30:35,120 --> 00:30:37,760
Speaker 2: these players becoming employees. And I know there are challenges

616
00:30:37,840 --> 00:30:41,360
Speaker 2: around Title nine. I know there are things I do

617
00:30:41,480 --> 00:30:44,920
Speaker 2: not have all the answers, But just seeing Charlie Charlie

618
00:30:44,920 --> 00:30:49,040
Speaker 2: Baker's the NCAA president, his proposal lets me know that

619
00:30:49,120 --> 00:30:53,719
Speaker 2: we're going in that direction. And you know, I'll say this.

620
00:30:53,840 --> 00:30:56,360
Speaker 2: You know, when you think about a coach, you know

621
00:30:56,400 --> 00:30:59,240
Speaker 2: we have the transfer portal right now that's occurring and

622
00:30:59,400 --> 00:31:03,120
Speaker 2: essentially free agency every single year for all these players.

623
00:31:03,480 --> 00:31:07,880
Speaker 2: You know, your coaches complaining about retention. You know a

624
00:31:07,920 --> 00:31:10,480
Speaker 2: lot of their players are being recruited off of their

625
00:31:10,560 --> 00:31:14,200
Speaker 2: rosters in the middle of the season because nil money

626
00:31:14,520 --> 00:31:17,600
Speaker 2: is bigger and better at other schools. And you have

627
00:31:17,640 --> 00:31:21,360
Speaker 2: these mid major schools that you know, can't retain some

628
00:31:21,440 --> 00:31:25,040
Speaker 2: of their top players because these bigger schools are poking them.

629
00:31:25,040 --> 00:31:28,160
Speaker 2: So I think we're going to see I think we're

630
00:31:28,160 --> 00:31:31,720
Speaker 2: going to see Division One shrink drastically. I think we're

631
00:31:31,720 --> 00:31:34,760
Speaker 2: going to have one super pack league. Inevitably, it's going

632
00:31:34,840 --> 00:31:37,600
Speaker 2: to go on that in that direction, and it's going

633
00:31:37,640 --> 00:31:40,960
Speaker 2: to be a major revshare model, and I think the

634
00:31:41,000 --> 00:31:42,920
Speaker 2: players are going to have to form there's going to

635
00:31:43,000 --> 00:31:46,520
Speaker 2: have to be a union because coaches are represented, schools

636
00:31:46,520 --> 00:31:51,239
Speaker 2: are represented, but the players have no uniformed voice, and

637
00:31:51,280 --> 00:31:53,240
Speaker 2: to me, that's a major concern and it has to

638
00:31:53,280 --> 00:31:53,840
Speaker 2: be addressed.

639
00:31:54,240 --> 00:31:58,120
Speaker 6: Well, that's the thing about as you mentioned, Scarlett, about

640
00:31:58,160 --> 00:32:02,760
Speaker 6: what's going on in this deal. I mean, this is huge, as.

641
00:32:02,720 --> 00:32:04,800
Speaker 3: What you're saying, Yeah, and it's going to be messy

642
00:32:05,160 --> 00:32:08,680
Speaker 3: once you start talking about organizing students into unions because

643
00:32:08,760 --> 00:32:09,640
Speaker 3: some states don't.

644
00:32:10,320 --> 00:32:12,120
Speaker 7: I was just saying that last right, we were just talking

645
00:32:12,120 --> 00:32:16,120
Speaker 7: to about unionization at the student athlete level. Is its

646
00:32:16,200 --> 00:32:17,120
Speaker 7: uncharted territory.

647
00:32:17,200 --> 00:32:20,160
Speaker 3: It's problematic and you know, lots of legal challenges ahead.

648
00:32:20,800 --> 00:32:22,800
Speaker 2: So like I agree with you, I think it's going

649
00:32:22,840 --> 00:32:24,600
Speaker 2: to be difficult. I just don't know how you do

650
00:32:24,720 --> 00:32:27,760
Speaker 2: not push in that direction. And I've already seen schools

651
00:32:27,800 --> 00:32:32,400
Speaker 2: with NIL utilize some of their state legislation to dance

652
00:32:32,440 --> 00:32:35,800
Speaker 2: around certain issues. And so that's why I said before,

653
00:32:35,920 --> 00:32:39,520
Speaker 2: it's it almost feels to me as if the NC

654
00:32:39,680 --> 00:32:43,479
Speaker 2: double A is irrelevant right now. I mean, think about

655
00:32:43,840 --> 00:32:46,440
Speaker 2: how much revenue is being generated from the Big twelve

656
00:32:47,000 --> 00:32:51,160
Speaker 2: or the big we have. We now have UCLA in

657
00:32:51,440 --> 00:32:56,120
Speaker 2: USC in the Big ten, in the Big ten. Even

658
00:32:56,320 --> 00:32:59,880
Speaker 2: so when I hear schools talk about what we prior

659
00:33:00,120 --> 00:33:02,560
Speaker 2: tied education, how could you do that?

660
00:33:02,640 --> 00:33:03,120
Speaker 5: Exactly?

661
00:33:03,440 --> 00:33:06,280
Speaker 2: Your travel schedule alone, Scarlet, when you're playing a game,

662
00:33:06,320 --> 00:33:08,800
Speaker 2: you're gonna you're telling me, if you're u CLA, you're

663
00:33:08,800 --> 00:33:10,760
Speaker 2: gonna take your classes and then you're going to travel

664
00:33:11,080 --> 00:33:14,120
Speaker 2: across the country to play in Maryland right on a

665
00:33:14,280 --> 00:33:16,360
Speaker 2: on a on a on a Tuesday night, and then

666
00:33:16,360 --> 00:33:19,920
Speaker 2: you're not gonna miss classes. It's so it's about driving revenue,

667
00:33:19,960 --> 00:33:23,320
Speaker 2: it's about dollars. And as long as we start from there,

668
00:33:23,400 --> 00:33:25,080
Speaker 2: I think the rest of the blood games will continue

669
00:33:25,080 --> 00:33:25,360
Speaker 2: to open.

670
00:33:25,920 --> 00:33:28,120
Speaker 7: Jay, we started off talking about Florida State University. I

671
00:33:28,160 --> 00:33:29,960
Speaker 7: want to ask you a question about the Orange Bowl, right,

672
00:33:30,000 --> 00:33:32,400
Speaker 7: I mean, what a travesty. There were you know, sponsors

673
00:33:32,400 --> 00:33:35,320
Speaker 7: that paid to you know, for the Orange Bowl. You know,

674
00:33:35,360 --> 00:33:36,840
Speaker 7: they wanted it to be a great game, and all

675
00:33:36,880 --> 00:33:39,000
Speaker 7: of a sudden, you know, they didn't start anybody right,

676
00:33:39,040 --> 00:33:41,080
Speaker 7: and Georgia blew them out. And you know, my question

677
00:33:41,200 --> 00:33:43,560
Speaker 7: is how many more years are we going to have

678
00:33:43,640 --> 00:33:47,320
Speaker 7: to endure of this before someone gets I mean, and

679
00:33:47,360 --> 00:33:49,360
Speaker 7: who is that someone who's going to get involved to

680
00:33:49,440 --> 00:33:51,480
Speaker 7: change the name of the game, because with the transfer

681
00:33:51,520 --> 00:33:54,040
Speaker 7: window gone and these you're right, these students, you know,

682
00:33:54,120 --> 00:33:57,120
Speaker 7: incentivized to you know, to to not play, to not dress.

683
00:33:57,440 --> 00:33:59,120
Speaker 7: I mean that, I mean, is that that just can't

684
00:33:59,120 --> 00:33:59,560
Speaker 7: be good.

685
00:33:59,400 --> 00:33:59,880
Speaker 6: For the sport.

686
00:34:01,440 --> 00:34:03,160
Speaker 2: No, it's really bad for the sport. And by the way,

687
00:34:03,320 --> 00:34:05,200
Speaker 2: we have too many bowl games anyway of those games,

688
00:34:05,320 --> 00:34:06,920
Speaker 2: can I just start up there? I mean, we got

689
00:34:06,920 --> 00:34:09,879
Speaker 2: like the cheese at Noodle Bowl, I mean, just making

690
00:34:09,960 --> 00:34:14,040
Speaker 2: up names a bowl that we have and I get

691
00:34:14,040 --> 00:34:17,319
Speaker 2: it and shout out to Georgia for actually all their

692
00:34:17,360 --> 00:34:20,600
Speaker 2: guys playing following through. But like once again, I think

693
00:34:20,640 --> 00:34:24,600
Speaker 2: if there were some kind of revshare model where that

694
00:34:24,640 --> 00:34:28,640
Speaker 2: went a portion of those moneies went towards the players,

695
00:34:28,680 --> 00:34:31,960
Speaker 2: I think we'd be having a different conversation. I really do.

696
00:34:32,080 --> 00:34:35,600
Speaker 2: I you know, look, you can't. Obviously, some young people

697
00:34:35,640 --> 00:34:37,239
Speaker 2: are going to want to get themselves ready for the

698
00:34:37,320 --> 00:34:40,919
Speaker 2: NFL draft or the opportunity to prepare for whatever's next

699
00:34:41,000 --> 00:34:42,600
Speaker 2: or going in a transfer portal and don't want to

700
00:34:42,680 --> 00:34:45,880
Speaker 2: risk it. But that's why I think when we go

701
00:34:46,040 --> 00:34:50,480
Speaker 2: back to employees and salaries and things that are fixed.

702
00:34:50,800 --> 00:34:53,600
Speaker 2: They're fixed costs. Like if I know a game is

703
00:34:53,680 --> 00:34:56,759
Speaker 2: associated like an NBA, I knew that. If I like

704
00:34:56,880 --> 00:34:58,799
Speaker 2: Draymond Green, right, I'm sitting here in my room right

705
00:34:58,800 --> 00:35:03,240
Speaker 2: now watching them on sports and he missed sixteen games,

706
00:35:03,520 --> 00:35:07,040
Speaker 2: there is an associated cost with each game that he missed,

707
00:35:07,760 --> 00:35:09,759
Speaker 2: right that he feels that in his paycheck. So if

708
00:35:09,760 --> 00:35:13,359
Speaker 2: there's a cost associated with the Bowl game, I'm way

709
00:35:13,400 --> 00:35:15,759
Speaker 2: more app not to miss that if that means that's

710
00:35:15,760 --> 00:35:18,000
Speaker 2: going to be money out of my pocket. It's just

711
00:35:18,040 --> 00:35:20,359
Speaker 2: a different way to look at it. And we keep

712
00:35:20,360 --> 00:35:23,400
Speaker 2: talking about collegiate sports as if it's really amateurism, but

713
00:35:23,480 --> 00:35:26,960
Speaker 2: it's really never been amateurism. It's always been professionalism. We

714
00:35:27,120 --> 00:35:30,280
Speaker 2: just use that as a scapegoat to dance around issues

715
00:35:30,600 --> 00:35:31,880
Speaker 2: that we don't really want to address.

716
00:35:32,400 --> 00:35:35,720
Speaker 6: Charlie Baker head now for the NCAA. I just wonder

717
00:35:35,719 --> 00:35:38,120
Speaker 6: if he's thinking, Hell, I was better off when I

718
00:35:38,160 --> 00:35:42,439
Speaker 6: was the governor of Massachusetts. Yeah, this is something he's

719
00:35:42,440 --> 00:35:46,360
Speaker 6: got to negotiate through all of this. And now he

720
00:35:46,440 --> 00:35:49,000
Speaker 6: put a proposal out there and you touched off into

721
00:35:49,000 --> 00:35:51,880
Speaker 6: it a bit. He proposed the schools and students to

722
00:35:51,960 --> 00:35:57,520
Speaker 6: let the top schools pay their student athletes directly. Is

723
00:35:57,560 --> 00:36:00,160
Speaker 6: that a good idea?

724
00:36:00,800 --> 00:36:06,319
Speaker 2: It's a step in the right direction. You know. The

725
00:36:06,360 --> 00:36:09,200
Speaker 2: reality is that some schools will be able to pay

726
00:36:10,160 --> 00:36:13,080
Speaker 2: a lot more than other schools, so it has to

727
00:36:13,120 --> 00:36:15,520
Speaker 2: continue to be regulated. You know. One of the things

728
00:36:16,080 --> 00:36:21,239
Speaker 2: that I mean, I'm sorry, I'm laughing internally here because

729
00:36:21,440 --> 00:36:24,680
Speaker 2: we act like the president hasn't been set. I mean,

730
00:36:24,680 --> 00:36:29,960
Speaker 2: we have we have scales, we have cbas already in

731
00:36:29,960 --> 00:36:34,160
Speaker 2: professional sports. But we have it. The NBA has its,

732
00:36:34,160 --> 00:36:37,640
Speaker 2: the NFL has it, the MLB has it, you know,

733
00:36:37,840 --> 00:36:41,040
Speaker 2: and granted there are complexities here, but as it relates to,

734
00:36:41,880 --> 00:36:44,920
Speaker 2: you know, like a redshare model, we already have things

735
00:36:44,960 --> 00:36:49,560
Speaker 2: in place. So I don't understand why we don't start

736
00:36:49,640 --> 00:36:54,560
Speaker 2: partnering with bigger organizations to understand and utilize their resources

737
00:36:54,560 --> 00:36:56,960
Speaker 2: on how they can help us get to a point

738
00:36:56,960 --> 00:37:00,280
Speaker 2: where obviously, like revenues can be driven by football. First,

739
00:37:00,440 --> 00:37:05,400
Speaker 2: I understand that basketball is a completely different challenge, but

740
00:37:05,760 --> 00:37:07,879
Speaker 2: we have things in place already to kind of work

741
00:37:07,920 --> 00:37:10,480
Speaker 2: towards that. We should just want more partnerships to figure

742
00:37:10,480 --> 00:37:10,839
Speaker 2: that out.

743
00:37:11,320 --> 00:37:13,680
Speaker 6: Well, that's the thing you mentioned that earlier, is that

744
00:37:13,719 --> 00:37:16,279
Speaker 6: the big schools, they're going to be able to handle this.

745
00:37:16,480 --> 00:37:19,440
Speaker 6: But hey, Watson made you is not going to be

746
00:37:19,480 --> 00:37:21,080
Speaker 6: able to handle this one.

747
00:37:21,160 --> 00:37:23,760
Speaker 3: Bet all this sender all the stories, right.

748
00:37:23,760 --> 00:37:27,799
Speaker 2: Yeah, yeah, Well, I mean it's well, and that's you know,

749
00:37:27,920 --> 00:37:30,279
Speaker 2: like we have some of these teams reaching the final four,

750
00:37:31,040 --> 00:37:33,440
Speaker 2: and you know, I you know, I'm happy that we

751
00:37:33,480 --> 00:37:35,440
Speaker 2: have NIO right now. But I mean the amount of

752
00:37:35,440 --> 00:37:37,359
Speaker 2: money the school makes for you know, when the team

753
00:37:37,400 --> 00:37:40,359
Speaker 2: and how they're the conference is incentivized for a team

754
00:37:40,360 --> 00:37:43,120
Speaker 2: to make the final four. Okay, wish the players could

755
00:37:43,120 --> 00:37:46,799
Speaker 2: participate in that economically, but yes, I mean inevitably. But

756
00:37:46,840 --> 00:37:50,040
Speaker 2: that's also though where I become. I became a little

757
00:37:50,040 --> 00:37:54,239
Speaker 2: bit hardened because I live in a capitalistic society and

758
00:37:54,520 --> 00:37:57,520
Speaker 2: rules are not fair for everybody. And if you're a

759
00:37:57,560 --> 00:38:00,040
Speaker 2: school that's doing three x and revenue as opposed to

760
00:38:00,080 --> 00:38:02,920
Speaker 2: a little a smaller school, that's the reality, that's the

761
00:38:03,000 --> 00:38:07,080
Speaker 2: nature of the business model of that school. So that's

762
00:38:07,080 --> 00:38:12,040
Speaker 2: why I do see D one shrinking drastically, because there's

763
00:38:12,080 --> 00:38:15,960
Speaker 2: certain players that can participate at that level, and you know,

764
00:38:16,800 --> 00:38:18,919
Speaker 2: other schools may have to drop down the D two

765
00:38:19,680 --> 00:38:22,920
Speaker 2: and you should be utilizing those resources, not for you

766
00:38:22,920 --> 00:38:24,719
Speaker 2: know many schools I know that have football teams that

767
00:38:24,880 --> 00:38:28,839
Speaker 2: have no business having football teams, right, So utilize those

768
00:38:28,880 --> 00:38:31,840
Speaker 2: resources for other sports that are deserving. Go down to

769
00:38:31,920 --> 00:38:34,200
Speaker 2: D two and you know, and utilize it that way.

770
00:38:34,320 --> 00:38:36,439
Speaker 6: Hey, watch them out of you, Damien. That's how old

771
00:38:36,480 --> 00:38:38,800
Speaker 6: I am. I going to make a Bullwinkle reference to

772
00:38:38,800 --> 00:38:43,160
Speaker 6: to get to this point. Don't mind me, Jay, I'm sorry.

773
00:38:43,840 --> 00:38:46,920
Speaker 7: You know what I'd like to pivot back. I'd like

774
00:38:46,960 --> 00:38:48,719
Speaker 7: to put it back to Improbable Media, where you're co

775
00:38:48,800 --> 00:38:52,840
Speaker 7: founder alongside Giannis and you know you're just mentioning. You

776
00:38:52,880 --> 00:38:56,640
Speaker 7: know you've got to you know, you've got something coming

777
00:38:56,640 --> 00:38:59,560
Speaker 7: out here about Giannis, about his youth, about him coming

778
00:38:59,560 --> 00:39:01,759
Speaker 7: out of I think he had his family migrated from

779
00:39:01,800 --> 00:39:04,680
Speaker 7: Nigeria to Athens. But I think a lot of this

780
00:39:04,680 --> 00:39:06,600
Speaker 7: this new clip that you guys worked on is taking

781
00:39:06,600 --> 00:39:08,759
Speaker 7: place in Nigeria. You know, I happen to know a

782
00:39:08,760 --> 00:39:11,360
Speaker 7: little thing about Nigeria. Were talking to Bougia port Harcourt.

783
00:39:11,400 --> 00:39:12,040
Speaker 6: Is it Legos?

784
00:39:12,080 --> 00:39:14,280
Speaker 7: I mean, where is Jannis really from?

785
00:39:15,000 --> 00:39:18,440
Speaker 2: He's around Legos And yeah, I don't want to I

786
00:39:18,440 --> 00:39:20,360
Speaker 2: don't want to tell his story. I allow him to

787
00:39:21,200 --> 00:39:27,080
Speaker 2: talk about well thing well Damien. I say that because look,

788
00:39:27,560 --> 00:39:29,920
Speaker 2: I'm gonna be very transparent with you, right, Like my

789
00:39:30,000 --> 00:39:32,759
Speaker 2: wife is Lemon, He's an Italian. When we did her,

790
00:39:32,920 --> 00:39:36,399
Speaker 2: my father who listens to you guys all the time

791
00:39:36,440 --> 00:39:39,400
Speaker 2: and other shows on Bloomberg and NPR Ya, my father

792
00:39:39,480 --> 00:39:42,400
Speaker 2: is very big into twenty three in me, right, So Scarlett,

793
00:39:42,480 --> 00:39:45,560
Speaker 2: my father building a relationship with my wife, you know,

794
00:39:45,680 --> 00:39:48,120
Speaker 2: brings the twenty three and me to the house and

795
00:39:48,239 --> 00:39:49,960
Speaker 2: you know, we're in New York and he's like, you know,

796
00:39:49,960 --> 00:39:52,479
Speaker 2: look at your family lineage, and you know, my wife

797
00:39:52,560 --> 00:39:55,000
Speaker 2: is like, this is incredible. I'm seeing my great grandfather

798
00:39:55,120 --> 00:39:57,960
Speaker 2: from Italy and my family from Lebanon and things of

799
00:39:57,960 --> 00:40:00,080
Speaker 2: that sort. And I'm like all right, you know my

800
00:40:00,400 --> 00:40:01,799
Speaker 2: I'm like all right, Dad, Like where do we go

801
00:40:01,880 --> 00:40:03,120
Speaker 2: back to? And like all of a sudden, like our

802
00:40:03,120 --> 00:40:05,440
Speaker 2: family tree stops around the nineteen hundreds, you know, and

803
00:40:05,480 --> 00:40:09,359
Speaker 2: like we can't figure that out. So there's complexity there

804
00:40:09,360 --> 00:40:11,360
Speaker 2: about like where do I really come from? And what

805
00:40:11,400 --> 00:40:15,240
Speaker 2: does that really mean? And as you can imagine for Yannis,

806
00:40:15,360 --> 00:40:19,280
Speaker 2: the complexities of being Nigerian descent, right, But then also

807
00:40:19,560 --> 00:40:21,040
Speaker 2: what is it to be Greek?

808
00:40:21,160 --> 00:40:21,359
Speaker 6: Yeah?

809
00:40:21,400 --> 00:40:24,640
Speaker 2: And what is it to deal with some of the

810
00:40:24,640 --> 00:40:27,560
Speaker 2: the challenges of racism that he had being in Greece,

811
00:40:28,080 --> 00:40:31,200
Speaker 2: you know, and and how he didn't feel accepted there

812
00:40:31,400 --> 00:40:34,120
Speaker 2: until he became somebody really big and then all of

813
00:40:34,160 --> 00:40:36,120
Speaker 2: a sudden he is like the savior for the country,

814
00:40:36,120 --> 00:40:37,600
Speaker 2: when he never felt like he was part of the

815
00:40:37,640 --> 00:40:41,759
Speaker 2: country earlier. And then to be thrown into what it

816
00:40:41,800 --> 00:40:44,960
Speaker 2: means to be African and black and in the United

817
00:40:45,000 --> 00:40:47,600
Speaker 2: States when you play for Milwaukee and you're in the

818
00:40:47,640 --> 00:40:51,400
Speaker 2: bubble and the situation occurs in Wisconsin, right, like what

819
00:40:51,440 --> 00:40:53,440
Speaker 2: did that mean? Just trying to figure out what it

820
00:40:53,480 --> 00:40:54,960
Speaker 2: means to be Greek and black and what it means

821
00:40:54,960 --> 00:40:58,319
Speaker 2: to be Nigerian and black. So there's a lot of

822
00:40:58,360 --> 00:41:01,480
Speaker 2: these nuances within his store as he's still you know,

823
00:41:01,560 --> 00:41:04,680
Speaker 2: he's and he's predominantly a really positive human being and

824
00:41:04,800 --> 00:41:07,799
Speaker 2: just wants everybody to be happy. Learning how to even

825
00:41:08,000 --> 00:41:10,680
Speaker 2: talk about that or tell his story. So I think it,

826
00:41:10,880 --> 00:41:13,240
Speaker 2: you know, within this thing within the Amazon, be honest,

827
00:41:13,239 --> 00:41:15,120
Speaker 2: the miraculous journey, I think you get a chance to

828
00:41:15,200 --> 00:41:19,560
Speaker 2: hear from a first count basis how he dealt with

829
00:41:19,640 --> 00:41:22,600
Speaker 2: that and how he's still learning how to deal with

830
00:41:22,600 --> 00:41:27,000
Speaker 2: what it means to be black and be successful in America,

831
00:41:27,440 --> 00:41:29,719
Speaker 2: in a small city market like Milwaukee.

832
00:41:30,120 --> 00:41:33,000
Speaker 3: It's an extremely relatable story in many ways. I mean,

833
00:41:33,120 --> 00:41:35,239
Speaker 3: you know, none of us are NBA players, but this

834
00:41:35,320 --> 00:41:37,160
Speaker 3: idea of struggling to figure out which part of your

835
00:41:37,200 --> 00:41:39,400
Speaker 3: identity you are at any given time in your life.

836
00:41:39,200 --> 00:41:41,000
Speaker 7: Well, Scarlett, I mean really, it takes us full circle

837
00:41:41,040 --> 00:41:42,719
Speaker 7: to the conversation we're having here with Jay. When I

838
00:41:42,719 --> 00:41:44,920
Speaker 7: first asked, you know what stories have yet to be

839
00:41:45,040 --> 00:41:47,640
Speaker 7: told in professional sports? And clearly there are a lot

840
00:41:47,680 --> 00:41:50,640
Speaker 7: of stories that have yet to be told in professional sports, know,

841
00:41:50,719 --> 00:41:51,440
Speaker 7: Michael Block.

842
00:41:51,640 --> 00:41:54,040
Speaker 6: Oh yeah, and I think and you're right, you honest,

843
00:41:54,080 --> 00:41:56,680
Speaker 6: he just wants to make people happy until they play

844
00:41:56,719 --> 00:42:02,160
Speaker 6: the Pistons. I'm sorry made Detroit. I'm sorry I said

845
00:42:02,200 --> 00:42:03,759
Speaker 6: that out loud, you know.

846
00:42:03,960 --> 00:42:07,440
Speaker 2: Michael, but even Detroit is a really the backstory of

847
00:42:07,480 --> 00:42:10,040
Speaker 2: Detroit and k Kunne and you know people, you know,

848
00:42:10,400 --> 00:42:12,040
Speaker 2: I see it all the time, you know, as a

849
00:42:12,080 --> 00:42:14,680
Speaker 2: former player, when you know fans yell at guys and

850
00:42:14,760 --> 00:42:18,000
Speaker 2: call them bust and say you stink, And I'm like, actually,

851
00:42:18,000 --> 00:42:19,879
Speaker 2: he doesn't think he's part. He's part of a point

852
00:42:20,000 --> 00:42:22,360
Speaker 2: zero zero zero one percent of the world. To achieve

853
00:42:22,400 --> 00:42:24,799
Speaker 2: a certain goal, right, but like how that can seep

854
00:42:24,840 --> 00:42:26,920
Speaker 2: into the minds of other people. And that's why I

855
00:42:26,960 --> 00:42:29,200
Speaker 2: think media is so important. I sit on a platform

856
00:42:29,320 --> 00:42:32,080
Speaker 2: daily and you know, spar with Stephen A. Smith and

857
00:42:32,120 --> 00:42:35,239
Speaker 2: Shannon Sharp and you know and Pat McAfee, and that

858
00:42:35,320 --> 00:42:37,960
Speaker 2: opens up another can of worms, of a lot of

859
00:42:38,000 --> 00:42:40,960
Speaker 2: conversations around things that are happening at our network and

860
00:42:41,000 --> 00:42:43,080
Speaker 2: people and things of that sort. But you know, it's

861
00:42:43,080 --> 00:42:45,840
Speaker 2: about how do you tell those stories and how do you,

862
00:42:45,840 --> 00:42:50,160
Speaker 2: you know, let people understand that these things are complex.

863
00:42:50,400 --> 00:42:52,560
Speaker 2: And it's the reason why I wrote my book. People

864
00:42:52,600 --> 00:42:54,759
Speaker 2: told me my story wasn't done and I should wait

865
00:42:54,840 --> 00:42:56,359
Speaker 2: until older. I'm like, well, hold on, this is one

866
00:42:56,360 --> 00:43:01,279
Speaker 2: of the chapters. And you know me losing something is

867
00:43:01,680 --> 00:43:05,000
Speaker 2: more relatable to everyday people in the world in which

868
00:43:05,000 --> 00:43:07,759
Speaker 2: everybody tries to tell you how differentiated they are. We're

869
00:43:07,840 --> 00:43:09,560
Speaker 2: we're trying to say, no, we're more like each other

870
00:43:09,640 --> 00:43:11,520
Speaker 2: more never how do we lean and tap into that?

871
00:43:11,680 --> 00:43:13,600
Speaker 6: Well said, Now, what's the name of the book, by

872
00:43:13,640 --> 00:43:15,239
Speaker 6: the way, so people can go out and get it.

873
00:43:15,239 --> 00:43:18,000
Speaker 2: It's called Life Is Not an Accident, a memoir, a reinvention.

874
00:43:18,280 --> 00:43:21,240
Speaker 2: So it was it was it was a long journey

875
00:43:21,280 --> 00:43:22,920
Speaker 2: and a lot of scripts that went by Coach k

876
00:43:23,040 --> 00:43:24,960
Speaker 2: where he told me, hell no, send that back when

877
00:43:24,960 --> 00:43:28,000
Speaker 2: you're when you're actually had better work. So it's been

878
00:43:28,040 --> 00:43:29,680
Speaker 2: a good process day.

879
00:43:29,760 --> 00:43:33,400
Speaker 6: Williams, co founder of Improbable Media. You are so kind

880
00:43:33,440 --> 00:43:35,520
Speaker 6: to talk with us, and I know people out there

881
00:43:35,560 --> 00:43:36,840
Speaker 6: by the way. It's like, yeah, I knew he was

882
00:43:36,880 --> 00:43:38,879
Speaker 6: on the basketball court. I see him all the time

883
00:43:38,920 --> 00:43:41,799
Speaker 6: on ESPN two as an analyst. So don't give me

884
00:43:41,840 --> 00:43:45,279
Speaker 6: that we don't know who you are. We know you.

885
00:43:45,400 --> 00:43:51,480
Speaker 2: Man you, Michael, thank you, thank you, Damie, thank you, Scarlett.

886
00:43:51,160 --> 00:43:52,000
Speaker 3: Thank you.

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00:43:52,400 --> 00:43:55,319
Speaker 6: This is the Bloomberg Business of Sports show. We are

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00:43:55,360 --> 00:43:57,840
Speaker 6: here each and every week at the same time, plus

889
00:43:57,880 --> 00:44:00,960
Speaker 6: online wherever you get your podcasts. I'm Michael Barr from

890
00:44:00,960 --> 00:44:05,560
Speaker 6: a colleague, Scarlett Foo and Damien Sassauer. Thanks for joining us.

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00:44:05,680 --> 00:44:08,279
Speaker 6: Tune in again next week for the latest on the

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00:44:08,320 --> 00:44:11,280
Speaker 6: stories moving big old money in the world of sports.

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Speaker 6: You're listening to Bloomberg Business of Sports from Bloomberg Radio

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00:44:15,800 --> 00:44:16,840
Speaker 6: around the world.