1 00:00:04,360 --> 00:00:07,080 Speaker 1: This is the Bloomberg Business of Sports show. Will we 2 00:00:07,160 --> 00:00:09,280 Speaker 1: explore the big money issues in the world of sports. 3 00:00:09,360 --> 00:00:12,320 Speaker 2: I'm Michael Barr, I'm Scarlet Fool, and I'm Nemian Sas. 4 00:00:12,119 --> 00:00:14,960 Speaker 1: Hour coming up to day, we talk a little soccer 5 00:00:15,200 --> 00:00:18,880 Speaker 1: with LA Gallaxy Chief operating Officer Tom Brawn. 6 00:00:19,040 --> 00:00:20,799 Speaker 3: We just want to listen more. You want to listen 7 00:00:20,840 --> 00:00:23,160 Speaker 3: more if we want to give back to our fans 8 00:00:23,600 --> 00:00:25,279 Speaker 3: what they want. I don't want to assume I know 9 00:00:25,320 --> 00:00:26,520 Speaker 3: what they want. I want them to tell me what 10 00:00:26,560 --> 00:00:26,960 Speaker 3: they want. 11 00:00:27,240 --> 00:00:30,760 Speaker 1: Plus, we hear from NHL Hall of Famer Mark Messier 12 00:00:31,120 --> 00:00:34,440 Speaker 1: on a new business venture. All that is straight ahead 13 00:00:34,440 --> 00:00:37,600 Speaker 1: on the Bloomberg Business of Sports. But first we've got 14 00:00:37,640 --> 00:00:41,720 Speaker 1: the MLB playoffs in full swing. What I did is 15 00:00:42,440 --> 00:00:45,400 Speaker 1: he deals and we've already seen Bhutterfield. 16 00:00:45,640 --> 00:00:48,280 Speaker 4: Harris is on the run, Harris at the truck and 17 00:00:48,400 --> 00:00:52,680 Speaker 4: lead he makes the catch. Prper Michael doubled up. The 18 00:00:52,920 --> 00:01:00,120 Speaker 4: truck gets away. 19 00:01:01,440 --> 00:01:04,280 Speaker 5: Now, of course, outside of the games, this MLB postseason 20 00:01:04,360 --> 00:01:06,920 Speaker 5: is also notable because of the teams that did not 21 00:01:07,080 --> 00:01:07,400 Speaker 5: make it. 22 00:01:07,560 --> 00:01:10,280 Speaker 2: That's right, Scarlett. Despite spending big teams like the New 23 00:01:10,360 --> 00:01:13,200 Speaker 2: York Yankees, the New York Mets, did not make the cut, 24 00:01:13,520 --> 00:01:15,760 Speaker 2: while others like the Baltimore Orioles made it to the 25 00:01:15,800 --> 00:01:18,600 Speaker 2: playoffs with one of the smallest payrolls in the league. 26 00:01:18,800 --> 00:01:21,000 Speaker 1: Here to take us through the disparity between the big 27 00:01:21,040 --> 00:01:24,800 Speaker 1: spenders and the big winners, we welcome Bloomberg News Global 28 00:01:24,959 --> 00:01:30,080 Speaker 1: Business Steve Cohen. Now, I know my family, you know, 29 00:01:30,120 --> 00:01:33,560 Speaker 1: they're big Mets fans, and they're like, you know, why 30 00:01:33,600 --> 00:01:35,880 Speaker 1: do you want to go spoil our party? Man, Like 31 00:01:35,920 --> 00:01:39,320 Speaker 1: we came to help you. But you now, it's listen. 32 00:01:39,440 --> 00:01:45,959 Speaker 1: This is about moneyball and teams that made the playoffs, 33 00:01:46,840 --> 00:01:51,840 Speaker 1: like the Rays and the Orioles. Orioles, Yeah, I mean, 34 00:01:51,960 --> 00:01:56,600 Speaker 1: they're like Peter Angeles, dirt cheap. And meanwhile, Steve Cohen, 35 00:01:56,720 --> 00:01:58,800 Speaker 1: I think it was three hundred thirty million dollars for 36 00:01:58,880 --> 00:02:01,600 Speaker 1: the payroll and flup nothing. 37 00:02:02,400 --> 00:02:05,480 Speaker 6: Yeah, it was a very funny year that way. Three 38 00:02:05,520 --> 00:02:08,600 Speaker 6: of the top spenders, led by those Mets who were 39 00:02:08,800 --> 00:02:12,520 Speaker 6: far and above above everybody else. The Yankees padres All 40 00:02:12,560 --> 00:02:15,000 Speaker 6: did not make the playoffs. At the bottom, you had 41 00:02:15,000 --> 00:02:16,760 Speaker 6: two of the bottom three, the ones you mentioned, the 42 00:02:16,840 --> 00:02:19,239 Speaker 6: Rays and the Orioles make it in. So we ran 43 00:02:19,320 --> 00:02:21,240 Speaker 6: the numbers and you can just kind of look at 44 00:02:21,240 --> 00:02:24,480 Speaker 6: how correlated our wins and payroll, you know, And this 45 00:02:24,560 --> 00:02:27,919 Speaker 6: year was out of whack basically because the Mets pulled 46 00:02:27,919 --> 00:02:29,760 Speaker 6: it down on one end and the Orioles lifted it 47 00:02:29,840 --> 00:02:31,399 Speaker 6: up on the other end. So you had a very 48 00:02:31,440 --> 00:02:34,560 Speaker 6: funny season where you couldn't necessarily predict who was going 49 00:02:34,639 --> 00:02:36,880 Speaker 6: to win by who was spending money at least on 50 00:02:37,000 --> 00:02:37,600 Speaker 6: opening day. 51 00:02:37,760 --> 00:02:40,520 Speaker 1: And nothing against you, mister Cohen, because I adore you, 52 00:02:40,560 --> 00:02:42,000 Speaker 1: because at least you try. 53 00:02:41,919 --> 00:02:43,919 Speaker 6: Right, Yeah, I mean I think you have to think 54 00:02:43,919 --> 00:02:46,080 Speaker 6: about big market teams and small market teams are playing 55 00:02:46,080 --> 00:02:46,679 Speaker 6: a different game. 56 00:02:47,080 --> 00:02:49,400 Speaker 7: And big market teams, especially Cohen. 57 00:02:49,160 --> 00:02:51,880 Speaker 6: Who has way more money than even the wealthiest teams, 58 00:02:52,680 --> 00:02:55,560 Speaker 6: he can afford to take a big bet and lose 59 00:02:55,600 --> 00:02:56,799 Speaker 6: and try again the next year. 60 00:02:57,000 --> 00:02:57,240 Speaker 7: Right. 61 00:02:57,320 --> 00:02:59,280 Speaker 6: He's not going to blow through his budget. It's just 62 00:02:59,320 --> 00:03:01,919 Speaker 6: his appetite for loss is the only limit for him. 63 00:03:02,440 --> 00:03:05,240 Speaker 6: Small market teams you have to you are on a budget, 64 00:03:05,280 --> 00:03:06,840 Speaker 6: and so you have to try to time it every 65 00:03:06,880 --> 00:03:09,639 Speaker 6: few years, get a few prospects together who hopefully gel 66 00:03:09,680 --> 00:03:10,280 Speaker 6: at one time. 67 00:03:10,560 --> 00:03:12,400 Speaker 7: And that's exactly what happened for the Orioles and. 68 00:03:12,400 --> 00:03:14,760 Speaker 1: Carol Steve Cohen could be the Mattress guy. But the 69 00:03:15,560 --> 00:03:16,760 Speaker 1: but the other guy is good, ma. 70 00:03:17,120 --> 00:03:19,720 Speaker 5: Right, he can afford to blow up the team every 71 00:03:19,760 --> 00:03:22,200 Speaker 5: year and doesn't have to go through those rebuilding periods 72 00:03:22,200 --> 00:03:24,440 Speaker 5: where everything's really dark and the fans just have to 73 00:03:24,480 --> 00:03:27,240 Speaker 5: be patient. The thing with Steve Cohen, though, is I 74 00:03:27,320 --> 00:03:30,240 Speaker 5: believe we've reported that he's had some folks from his 75 00:03:30,280 --> 00:03:32,520 Speaker 5: hedge fund go over to the Mets and do their 76 00:03:32,560 --> 00:03:36,480 Speaker 5: magic with using analytics and data, and so he's got 77 00:03:36,520 --> 00:03:41,200 Speaker 5: the moneyball element and he's got an unlimited bank account 78 00:03:41,240 --> 00:03:41,720 Speaker 5: as well. 79 00:03:41,800 --> 00:03:44,080 Speaker 6: Right, it's a both dand situation. And he said that 80 00:03:44,160 --> 00:03:48,800 Speaker 6: they're trying to build the pipeline, the farm system, so 81 00:03:48,880 --> 00:03:53,240 Speaker 6: that it's not this kind of unstable only getting free 82 00:03:53,240 --> 00:03:56,280 Speaker 6: agents old guys who are prone to injury. They want 83 00:03:56,280 --> 00:03:58,920 Speaker 6: to have that pipeline of young talent and then plug 84 00:03:58,960 --> 00:04:01,960 Speaker 6: in the gaps with high price free agents. And that's 85 00:04:02,040 --> 00:04:04,839 Speaker 6: been a successful formula for like the Dodgers, who did 86 00:04:04,840 --> 00:04:07,600 Speaker 6: make the playoffs this season and are big spenders. So 87 00:04:07,720 --> 00:04:09,800 Speaker 6: if you can afford to do that, that seems to 88 00:04:09,840 --> 00:04:12,080 Speaker 6: be the formula. But there's just so much randomness in 89 00:04:12,120 --> 00:04:16,320 Speaker 6: baseball that you will see, you know, the teams on 90 00:04:16,400 --> 00:04:19,040 Speaker 6: a budget succeed you know, and a lot of us luck. 91 00:04:19,120 --> 00:04:21,920 Speaker 7: The Mets were particularly unlucky this year. If you just 92 00:04:21,960 --> 00:04:22,360 Speaker 7: look at. 93 00:04:22,240 --> 00:04:24,400 Speaker 6: How many runs they scored and allowed, they should have 94 00:04:24,440 --> 00:04:26,720 Speaker 6: won five more games than they did. The Orioles were 95 00:04:26,839 --> 00:04:28,960 Speaker 6: very lucky on the other end of that, won seven 96 00:04:28,960 --> 00:04:31,760 Speaker 6: more games and they were supposed to theoretically. So it's 97 00:04:31,760 --> 00:04:32,360 Speaker 6: a funny game. 98 00:04:32,400 --> 00:04:34,120 Speaker 2: So Ira put some numbers on this for me. I mean, 99 00:04:34,160 --> 00:04:35,839 Speaker 2: if you talk about the Mets, Paol, we're talking about 100 00:04:35,880 --> 00:04:37,520 Speaker 2: what three hundred and forty million dollars for the full 101 00:04:37,600 --> 00:04:38,600 Speaker 2: year or something on those lines. 102 00:04:38,680 --> 00:04:41,800 Speaker 6: Yeah, so it's one hundred million in luxury taxes known 103 00:04:41,839 --> 00:04:42,960 Speaker 6: as the Steve Cohen tax. 104 00:04:43,040 --> 00:04:47,200 Speaker 2: So that's the big pay right apparently, right, So that's 105 00:04:47,279 --> 00:04:49,719 Speaker 2: the big spender. And talk to me about you know, 106 00:04:49,760 --> 00:04:51,800 Speaker 2: the Orioles, like by comparison, like what was there? 107 00:04:51,880 --> 00:04:54,680 Speaker 6: What was thereuting they are below sixty million, they're somewhere 108 00:04:54,680 --> 00:04:56,080 Speaker 6: in the wow fifties. 109 00:04:56,160 --> 00:04:57,239 Speaker 7: Yeah, so wow. 110 00:04:57,440 --> 00:05:00,520 Speaker 6: And and you know the only team below them is Oakland, 111 00:05:00,760 --> 00:05:04,440 Speaker 6: Oakland of moneyball fame. She isn't going to be in Oakland, right, 112 00:05:04,520 --> 00:05:07,200 Speaker 6: probably moving to Las Vegas. And they are now just 113 00:05:07,279 --> 00:05:09,920 Speaker 6: you know, the moneyball Sometimes you're just bad. 114 00:05:10,120 --> 00:05:10,680 Speaker 7: You know, and. 115 00:05:10,560 --> 00:05:14,520 Speaker 6: Sometimes that's honestly what you are. You won't say it 116 00:05:14,600 --> 00:05:17,839 Speaker 6: tell your fans, but that's what you're doing from the beginning. 117 00:05:18,240 --> 00:05:20,320 Speaker 6: You have a season where you're just not really trying 118 00:05:20,360 --> 00:05:22,360 Speaker 6: to win this year. You're trying to stockpile for the future, 119 00:05:22,560 --> 00:05:24,560 Speaker 6: rebuild fans. Yep, you fans have to endure it. 120 00:05:24,800 --> 00:05:26,320 Speaker 7: But they are. I don't know what they're doing. I 121 00:05:26,320 --> 00:05:27,560 Speaker 7: think they're trying to get out of town. 122 00:05:27,680 --> 00:05:31,080 Speaker 1: It's hard to believe that that publication Moneyball came out 123 00:05:31,120 --> 00:05:34,640 Speaker 1: twenty years ago. It just seems like it was yesterday. 124 00:05:35,080 --> 00:05:36,480 Speaker 1: Well it seems like you. 125 00:05:36,440 --> 00:05:40,599 Speaker 2: Know, that's because I look a lot like Brad Pitt, right, Yeah, 126 00:05:40,760 --> 00:05:42,680 Speaker 2: like the two of us and we work together. Of 127 00:05:42,680 --> 00:05:45,240 Speaker 2: course you do, and you often compare me to Brad 128 00:05:45,279 --> 00:05:49,120 Speaker 2: Pitt of Moneyball fame. Now, No, but seriously, I mean, 129 00:05:49,120 --> 00:05:52,120 Speaker 2: we have to really look at is truthfully the franchise 130 00:05:52,200 --> 00:05:54,159 Speaker 2: value of these teams, the Orioles versus the Mets. 131 00:05:54,200 --> 00:05:54,960 Speaker 1: Let's just say that. 132 00:05:55,320 --> 00:05:57,479 Speaker 2: I mean, are we talking billion? I mean, it's the 133 00:05:57,480 --> 00:06:00,279 Speaker 2: Mets about a four billion dollar baseball franchise. Something on that. 134 00:06:00,320 --> 00:06:01,960 Speaker 2: I mean, it's the Oriel so far off. I mean, 135 00:06:02,200 --> 00:06:04,440 Speaker 2: I'm not even sure I mean I have to I'd 136 00:06:04,440 --> 00:06:06,800 Speaker 2: have to call up Malcolm forb you know, I mean, like, 137 00:06:06,839 --> 00:06:08,920 Speaker 2: what's the value to the value difference there? 138 00:06:08,960 --> 00:06:10,520 Speaker 6: I haven't looked at what the sort of you know, 139 00:06:10,520 --> 00:06:12,919 Speaker 6: it's all speculative until they sell, so you have a 140 00:06:12,960 --> 00:06:15,839 Speaker 6: controlling ownership shift. And basically what you're looking at is 141 00:06:15,960 --> 00:06:18,760 Speaker 6: the tradition, what shaped the team is in that moment, 142 00:06:18,839 --> 00:06:20,920 Speaker 6: and the size of the market. Baltimore is probably a 143 00:06:20,960 --> 00:06:24,080 Speaker 6: pretty attractive team on all those dimensions. You also have 144 00:06:24,120 --> 00:06:26,640 Speaker 6: to look at the ballpark situation kind of nice do 145 00:06:26,720 --> 00:06:30,520 Speaker 6: they own it? But yeah, right they are. You know, 146 00:06:30,560 --> 00:06:33,320 Speaker 6: they're not a bad uh you know, they're a team 147 00:06:33,360 --> 00:06:35,800 Speaker 6: with a loyal following in a pretty good market. But 148 00:06:36,760 --> 00:06:39,359 Speaker 6: you know, I think it's interesting, like they were a 149 00:06:39,400 --> 00:06:42,920 Speaker 6: surprise this year. But if you look at Tampa, who 150 00:06:43,240 --> 00:06:45,640 Speaker 6: don't draw a lot of fans, trying to get a 151 00:06:45,680 --> 00:06:49,720 Speaker 6: new stadium built, and yet on their meager budget year 152 00:06:49,839 --> 00:06:52,680 Speaker 6: after year after year, they are in the picture. In 153 00:06:52,720 --> 00:06:54,680 Speaker 6: the toughest division in baseball. I mean a lot of 154 00:06:54,720 --> 00:06:57,040 Speaker 6: these teams you could say, well, they hit the jackpot, 155 00:06:57,080 --> 00:06:59,840 Speaker 6: they got lucky, some of their prospects worked out, you know, 156 00:07:00,160 --> 00:07:00,679 Speaker 6: who knows. 157 00:07:01,279 --> 00:07:02,000 Speaker 7: But in Tampa. 158 00:07:02,040 --> 00:07:03,960 Speaker 6: They actually seem to know, they actually seem to have 159 00:07:03,960 --> 00:07:05,560 Speaker 6: it figured out, and no one really knows how they're 160 00:07:05,560 --> 00:07:09,039 Speaker 6: doing it because they're consistently winning on a smaller payroll. 161 00:07:09,480 --> 00:07:11,800 Speaker 5: So here's another question. We had rule changes for the 162 00:07:11,880 --> 00:07:15,000 Speaker 5: MLB this year, and I know, as someone who's gone 163 00:07:15,120 --> 00:07:17,640 Speaker 5: to games twice, this year is so much better. It's 164 00:07:17,800 --> 00:07:19,920 Speaker 5: you know, if you get up to go get a drink, 165 00:07:19,920 --> 00:07:22,160 Speaker 5: you come back, you're like, oh, I missed something, as 166 00:07:22,160 --> 00:07:24,640 Speaker 5: opposed to before where you could have taken three walks 167 00:07:24,640 --> 00:07:28,040 Speaker 5: around the park. How did that influence how the Mets 168 00:07:28,080 --> 00:07:30,800 Speaker 5: performed and how the Oreos performed? You think, well, I. 169 00:07:30,760 --> 00:07:33,800 Speaker 6: Talked to one of baseball economist, Vince Gennaro at NYU, 170 00:07:33,920 --> 00:07:37,760 Speaker 6: and he thought maybe there was an extra advantage now 171 00:07:37,920 --> 00:07:41,280 Speaker 6: to younger teams. So basically, the way baseball works, you're 172 00:07:41,320 --> 00:07:44,480 Speaker 6: either shopping in the sort of prospect market for guys 173 00:07:44,480 --> 00:07:46,840 Speaker 6: who haven't played, you know, who have less than six 174 00:07:46,920 --> 00:07:48,800 Speaker 6: years of service time in the league, or you're shopping 175 00:07:48,800 --> 00:07:51,200 Speaker 6: for free agents who are expensive. So if you're a 176 00:07:51,240 --> 00:07:53,080 Speaker 6: prospect built team trying to do it on the cheap, 177 00:07:53,120 --> 00:07:55,680 Speaker 6: you're theoretically going to have a younger core and all 178 00:07:55,720 --> 00:07:59,800 Speaker 6: these rule changes favor youth or speed or athleticism because 179 00:07:59,800 --> 00:08:02,400 Speaker 6: they're built to help base runners and get more action 180 00:08:02,560 --> 00:08:05,120 Speaker 6: back in the games. So fewer throws over to first 181 00:08:05,520 --> 00:08:08,960 Speaker 6: pitch clocks, bigger bases all meant to help base runners. 182 00:08:09,000 --> 00:08:12,520 Speaker 6: So maybe the teams that are prospect built have now 183 00:08:12,600 --> 00:08:16,800 Speaker 6: an extra marginal advantage because the rules favor you know, 184 00:08:16,840 --> 00:08:17,920 Speaker 6: guys who can run. 185 00:08:18,080 --> 00:08:21,880 Speaker 1: Justin Verlander, Max Scherzer, former Tigers, and I hate to 186 00:08:21,920 --> 00:08:25,040 Speaker 1: bring it up because I ador them, but yes, they 187 00:08:25,080 --> 00:08:27,480 Speaker 1: got the money when they got to the Mets, but 188 00:08:28,080 --> 00:08:32,240 Speaker 1: they were also in their mid thirties and maybe older, 189 00:08:32,320 --> 00:08:35,920 Speaker 1: which now brings the point, are all the teams going 190 00:08:36,000 --> 00:08:38,360 Speaker 1: to be looking at hey, you know what you know 191 00:08:38,520 --> 00:08:42,000 Speaker 1: in baseball terms, these guys may be past their prime. 192 00:08:42,400 --> 00:08:44,959 Speaker 6: Yeah, I mean that you have to pay for decline 193 00:08:45,000 --> 00:08:47,000 Speaker 6: if you're shopping for free agents, and big market teams 194 00:08:47,000 --> 00:08:48,760 Speaker 6: will do that, and they'll tell you, look, partly we're 195 00:08:48,760 --> 00:08:51,319 Speaker 6: paying for the performance, Partly we're paying for the names. 196 00:08:51,360 --> 00:08:53,720 Speaker 6: These are guys who get people in the seats, who 197 00:08:53,760 --> 00:08:58,040 Speaker 6: sell jerseys, who are recognized faces, so they you know, 198 00:08:58,080 --> 00:09:01,240 Speaker 6: they have to pay a premium for that. But the 199 00:09:01,360 --> 00:09:04,280 Speaker 6: risk there is that they get injured and go bust. 200 00:09:04,320 --> 00:09:06,960 Speaker 6: And you know, just like you don't know how prospect's 201 00:09:07,000 --> 00:09:09,319 Speaker 6: going to turn out, you don't know how a star 202 00:09:09,480 --> 00:09:11,520 Speaker 6: is going to decline when they're gonna hit the hit 203 00:09:11,559 --> 00:09:12,280 Speaker 6: the wall at the end. 204 00:09:12,440 --> 00:09:14,400 Speaker 2: Yeah, I'll tell you right now. So I'm just looking 205 00:09:14,400 --> 00:09:16,920 Speaker 2: at the numbers thanks to the Bloomberg terminal. Here the 206 00:09:16,960 --> 00:09:21,480 Speaker 2: Mets are franchise value two point four billion, the Orioles 207 00:09:21,520 --> 00:09:25,920 Speaker 2: one point seven billion, and the Tampa Devil Rays you 208 00:09:25,960 --> 00:09:29,080 Speaker 2: want to guess one point twenty five billion. So, I mean, 209 00:09:29,360 --> 00:09:32,240 Speaker 2: it doesn't seem like a lot of money. 210 00:09:32,480 --> 00:09:33,640 Speaker 5: Is that the lowest valued team? 211 00:09:34,360 --> 00:09:36,840 Speaker 2: Don't I don't have the full rankings, no, but I mean, 212 00:09:36,920 --> 00:09:40,480 Speaker 2: you know, just based on twenty twenty three, I don't know, 213 00:09:40,520 --> 00:09:42,320 Speaker 2: according to what the terminal tells me, I listened to 214 00:09:42,320 --> 00:09:45,040 Speaker 2: everything it says. But but yeah, no, it doesn't seem 215 00:09:45,080 --> 00:09:47,000 Speaker 2: like that much for I mean, like why, I mean, 216 00:09:47,120 --> 00:09:48,600 Speaker 2: for them to not be spending the way I guess 217 00:09:48,640 --> 00:09:50,360 Speaker 2: a drunken sailor like Stevie Cohen would be. 218 00:09:50,440 --> 00:09:51,800 Speaker 7: But then again, this is New York. 219 00:09:52,240 --> 00:09:53,600 Speaker 6: Yeah, I mean I think you have to look at 220 00:09:53,600 --> 00:09:56,439 Speaker 6: two things. That asset value is sort of locked, you know, 221 00:09:56,880 --> 00:09:59,880 Speaker 6: ut until you go to sell so on a profident 222 00:10:00,080 --> 00:10:02,760 Speaker 6: loss basis, what does it look like year after year? 223 00:10:03,160 --> 00:10:05,560 Speaker 6: You know, do you want to stomach losses because they 224 00:10:05,559 --> 00:10:08,679 Speaker 6: may not be rolling in cash in the meantime. And 225 00:10:08,800 --> 00:10:13,000 Speaker 6: so that's always the trick with these teams, especially baseball. 226 00:10:13,320 --> 00:10:16,959 Speaker 6: NBA not huge profit margins there, NFL a little bit more. 227 00:10:17,000 --> 00:10:20,360 Speaker 1: So, Well, let's talk about another. This one is really interesting. 228 00:10:20,559 --> 00:10:25,280 Speaker 1: NBA Saudi Arabia, and there's talk about a lot of 229 00:10:25,320 --> 00:10:29,199 Speaker 1: money and a lot of interest from Saudi Arabia. And 230 00:10:29,480 --> 00:10:33,280 Speaker 1: the deputy Commissioner of the league said this himself, but 231 00:10:33,360 --> 00:10:35,560 Speaker 1: he didn't go into details because you know, we don't 232 00:10:35,559 --> 00:10:39,040 Speaker 1: discuss business at the dinner table, but he said, look, 233 00:10:39,160 --> 00:10:41,439 Speaker 1: it's like there is interest out there. 234 00:10:42,040 --> 00:10:45,400 Speaker 6: Yeah, it's possible that those sovereign wealth funds like in 235 00:10:45,440 --> 00:10:48,720 Speaker 6: Saudi Arabia the Public Investment Fund. There are others in 236 00:10:48,800 --> 00:10:52,480 Speaker 6: Katar in Abu Dhabi that are looking to get into 237 00:10:52,480 --> 00:10:55,319 Speaker 6: sports have made purchases in the Premier League in England, 238 00:10:55,840 --> 00:11:01,320 Speaker 6: Live Tour in golf, and the NBA has recently, along 239 00:11:01,360 --> 00:11:03,320 Speaker 6: with a lot of other US sports leagues, changed its 240 00:11:03,400 --> 00:11:07,400 Speaker 6: rules to make that possible, to allow institutional investors whether 241 00:11:07,400 --> 00:11:11,240 Speaker 6: that's a sovereign real wealth fund, a endowment, a pension 242 00:11:12,400 --> 00:11:15,360 Speaker 6: to invest in a team that came after they first 243 00:11:15,480 --> 00:11:17,480 Speaker 6: opened the door to private equity, and now they just 244 00:11:17,559 --> 00:11:20,160 Speaker 6: kind of keep expanding the parameters to make it possible 245 00:11:20,280 --> 00:11:23,640 Speaker 6: for owners who aren't an individual. The NFL is the 246 00:11:23,640 --> 00:11:25,360 Speaker 6: hold out. They are saying, you still have a rule 247 00:11:25,360 --> 00:11:27,079 Speaker 6: that says you have to have two legs to be 248 00:11:27,120 --> 00:11:29,360 Speaker 6: an owner, but well, you know, be a person. 249 00:11:29,760 --> 00:11:30,520 Speaker 7: But they are. 250 00:11:30,840 --> 00:11:32,719 Speaker 6: That's how they put it, they called the two leg rule. 251 00:11:32,760 --> 00:11:36,880 Speaker 6: But the the NFL is actually probably moving in the 252 00:11:36,880 --> 00:11:40,400 Speaker 6: same direction. It's starting to allow these kinds of investors 253 00:11:40,480 --> 00:11:42,600 Speaker 6: to own minority stakes in teams. 254 00:11:43,400 --> 00:11:47,680 Speaker 5: So in thinking through these sovereign wealth funds buying stakes 255 00:11:47,679 --> 00:11:50,400 Speaker 5: and NBA teams and perhaps one day NFL teams, is 256 00:11:50,440 --> 00:11:55,240 Speaker 5: this because the existing ownership wants to reduce their stakes 257 00:11:55,440 --> 00:11:58,400 Speaker 5: or is this an opportunity to add more teams to 258 00:11:58,440 --> 00:12:00,880 Speaker 5: the league. I mean, who's so who's willing to give 259 00:12:00,960 --> 00:12:02,400 Speaker 5: some some of their equity up? 260 00:12:02,840 --> 00:12:04,480 Speaker 7: I think you had a few problems. 261 00:12:04,520 --> 00:12:06,880 Speaker 6: One, the valuations are getting so high that the list 262 00:12:06,880 --> 00:12:09,440 Speaker 6: of people who could purchase a team was especially on 263 00:12:09,520 --> 00:12:12,640 Speaker 6: their own, was getting really short. And then you also 264 00:12:12,679 --> 00:12:15,040 Speaker 6: had like we were talking about, the valuations are high, 265 00:12:15,120 --> 00:12:17,800 Speaker 6: but maybe the balance sheet is not great. So you 266 00:12:17,880 --> 00:12:20,240 Speaker 6: want some liquidity, right, and so you can go to 267 00:12:20,320 --> 00:12:23,120 Speaker 6: a private equity fund buys five percent of your team. 268 00:12:23,440 --> 00:12:24,960 Speaker 7: Now you have some capital to work with. 269 00:12:25,480 --> 00:12:28,800 Speaker 6: Similarly, you have maybe a whole bunch of limited partners 270 00:12:28,880 --> 00:12:32,680 Speaker 6: right on the cap table who are often sort of 271 00:12:32,679 --> 00:12:35,160 Speaker 6: there for as vanity plays or alternative asset. 272 00:12:35,200 --> 00:12:36,319 Speaker 7: They want to be around the team. 273 00:12:36,360 --> 00:12:38,240 Speaker 6: But then when they decide they want to sell for 274 00:12:38,320 --> 00:12:41,680 Speaker 6: whatever reason, there aren't maybe a ton of buyers. It's 275 00:12:41,720 --> 00:12:44,360 Speaker 6: hard to find people who can pay for even ten 276 00:12:44,440 --> 00:12:47,680 Speaker 6: percent of a five billion dollar team. So the private 277 00:12:47,679 --> 00:12:51,240 Speaker 6: equity funds saw that opportunity and said we can fill 278 00:12:51,280 --> 00:12:51,960 Speaker 6: that gap for you. 279 00:12:52,040 --> 00:12:53,199 Speaker 7: We can go and we want it. 280 00:12:53,240 --> 00:12:55,040 Speaker 6: We think it's an interesting asset and we want to 281 00:12:55,080 --> 00:12:58,360 Speaker 6: buy like across multiple teams in multiple leagues and go 282 00:12:58,440 --> 00:13:00,840 Speaker 6: to our investors and say, look at this really great 283 00:13:00,880 --> 00:13:04,480 Speaker 6: alternative asset that never seems to stop going up. You 284 00:13:04,520 --> 00:13:06,040 Speaker 6: can buy a piece of it, and it can be 285 00:13:06,520 --> 00:13:09,080 Speaker 6: just kind of league wide or sports wide. You don't 286 00:13:09,120 --> 00:13:12,079 Speaker 6: have to invest in a particular team. So when when 287 00:13:12,320 --> 00:13:14,440 Speaker 6: you know is the idea? And then once that happens. 288 00:13:14,679 --> 00:13:16,960 Speaker 6: Now you start saying, well, why not let the public 289 00:13:17,000 --> 00:13:19,640 Speaker 6: investment fund in Saudi Arabia, which clearly has an appetite 290 00:13:19,679 --> 00:13:23,000 Speaker 6: for sports, become part NBA owners And you did have 291 00:13:23,080 --> 00:13:26,080 Speaker 6: a Katari fund buy into the ownership group of the Wizards, 292 00:13:26,360 --> 00:13:27,280 Speaker 6: so it's already happening. 293 00:13:27,480 --> 00:13:29,120 Speaker 2: Well, I right, let me ask you this be guess. 294 00:13:29,120 --> 00:13:30,720 Speaker 2: We had Wick gross but the owner of the Celtics, 295 00:13:30,760 --> 00:13:32,640 Speaker 2: on last week and you know when Wick bought the 296 00:13:32,679 --> 00:13:34,320 Speaker 2: Celtics in two thousand and two, one of the things 297 00:13:34,320 --> 00:13:36,080 Speaker 2: he said is there was no way to justify the 298 00:13:36,120 --> 00:13:40,200 Speaker 2: return on investment when you actually bought a sports team 299 00:13:40,240 --> 00:13:42,560 Speaker 2: maybe back then. Do you think it's any different now? 300 00:13:42,559 --> 00:13:44,040 Speaker 2: And the reason I ask is this, we know what 301 00:13:44,080 --> 00:13:47,000 Speaker 2: the term sport washing means, right, and so from where 302 00:13:47,040 --> 00:13:49,760 Speaker 2: I sit, you know, are we really of the belief 303 00:13:50,160 --> 00:13:53,160 Speaker 2: that these new investors with deep pockets are really in 304 00:13:53,200 --> 00:13:55,120 Speaker 2: it for the return on investment? Are they in it 305 00:13:55,160 --> 00:13:57,440 Speaker 2: for the long term because they believe in the franchise 306 00:13:57,480 --> 00:13:59,400 Speaker 2: and they have passion for that franchise the way we 307 00:14:00,080 --> 00:14:01,480 Speaker 2: or is there something deeper going on here? 308 00:14:02,040 --> 00:14:05,040 Speaker 6: I think with the private equity funds, they the rules 309 00:14:05,080 --> 00:14:06,319 Speaker 6: are set up so they have to be in for 310 00:14:06,360 --> 00:14:08,600 Speaker 6: like ten years or something, so they think at least 311 00:14:08,600 --> 00:14:11,760 Speaker 6: for that long that these are good assets. They might, 312 00:14:11,880 --> 00:14:14,880 Speaker 6: you know, there might be problems that you could point 313 00:14:14,880 --> 00:14:18,000 Speaker 6: to and risks, but basically, every time a franchise goes 314 00:14:18,040 --> 00:14:19,760 Speaker 6: on sale, it sells for a lot more than the 315 00:14:19,840 --> 00:14:23,000 Speaker 6: last time, so they're thinking as an asset pretty safe. 316 00:14:23,080 --> 00:14:23,880 Speaker 7: Sorry, take me. 317 00:14:23,800 --> 00:14:26,640 Speaker 2: Through the scenario and from the perspective of let's call 318 00:14:26,680 --> 00:14:30,600 Speaker 2: it the NBA of the NFL, right these you know, 319 00:14:31,080 --> 00:14:34,200 Speaker 2: these these Middle Eastern investors would just say, you know 320 00:14:34,360 --> 00:14:36,600 Speaker 2: who must have much of their revenue and their asset 321 00:14:36,640 --> 00:14:39,960 Speaker 2: base comes from the cost of energy and oil globally, 322 00:14:40,040 --> 00:14:41,880 Speaker 2: and you know the way the world is going. And 323 00:14:41,960 --> 00:14:44,560 Speaker 2: let's fast forward twenty to twenty five years now. And 324 00:14:44,640 --> 00:14:47,480 Speaker 2: if those deep pocket investors don't have the sustainability they 325 00:14:47,480 --> 00:14:50,640 Speaker 2: once did, what does that mean for these franchises and 326 00:14:50,760 --> 00:14:54,360 Speaker 2: what happens then? And we've seen that in other sports before. 327 00:14:54,400 --> 00:14:56,160 Speaker 2: I mean, what's sort of a precedent for that or 328 00:14:56,200 --> 00:14:59,440 Speaker 2: can we realistically expect that it's going to be you know, 329 00:14:59,440 --> 00:15:01,840 Speaker 2: they're going to be other liquid investors with the pockets 330 00:15:01,840 --> 00:15:03,760 Speaker 2: at that point in time to lift the k I 331 00:15:03,880 --> 00:15:05,400 Speaker 2: mean you know, I mean, you see where I'm going. 332 00:15:05,480 --> 00:15:07,640 Speaker 6: Right, No, you do reach a problem where it's who's 333 00:15:07,640 --> 00:15:08,040 Speaker 6: the buyer? 334 00:15:08,320 --> 00:15:10,480 Speaker 7: Yeah, a greater fool theory, I guess you could say. 335 00:15:10,480 --> 00:15:14,080 Speaker 6: But you know, we've had this issue before to your point, 336 00:15:14,120 --> 00:15:16,520 Speaker 6: where the when the Dodgers were in the hands of 337 00:15:16,600 --> 00:15:20,240 Speaker 6: Rupert Murdoch and Fox and Disney had the Ducks and 338 00:15:20,280 --> 00:15:23,800 Speaker 6: the Angels, and there were these moments where the shareholders 339 00:15:23,840 --> 00:15:26,720 Speaker 6: said or you know, the boards didn't want it anymore, 340 00:15:26,720 --> 00:15:28,560 Speaker 6: they were bleeding money, or it seemed like it wasn't 341 00:15:28,560 --> 00:15:30,160 Speaker 6: strategically useful, and then you'd. 342 00:15:30,040 --> 00:15:30,960 Speaker 7: Have like a fire sale. 343 00:15:31,280 --> 00:15:34,640 Speaker 6: And that is why these leagues have been hesitant in 344 00:15:34,680 --> 00:15:37,280 Speaker 6: general to have that kind of ownership, because what they 345 00:15:37,320 --> 00:15:40,320 Speaker 6: really want, the ideal for them is someone like Jeff 346 00:15:40,320 --> 00:15:42,840 Speaker 6: Bezos who just has a lot of money or Steve 347 00:15:42,880 --> 00:15:46,560 Speaker 6: Cohen rich and wants to have the team for whatever reasons. 348 00:15:47,000 --> 00:15:49,040 Speaker 6: And yeah, they they wanted to sell for more than 349 00:15:49,040 --> 00:15:50,640 Speaker 6: they bought it for whenever they're done with it. But 350 00:15:50,720 --> 00:15:54,240 Speaker 6: really they're there for everything else. But that list is short, 351 00:15:54,520 --> 00:15:56,600 Speaker 6: you know. And so if you can't get that, what 352 00:15:56,640 --> 00:15:58,240 Speaker 6: are you going to do? And what about all the 353 00:15:58,320 --> 00:16:02,520 Speaker 6: owners who don't aren't control brolling owners who maybe want 354 00:16:02,520 --> 00:16:04,240 Speaker 6: to get out with a you know, they have a 355 00:16:04,280 --> 00:16:06,400 Speaker 6: five percent stake and a team that's worth billions and 356 00:16:06,400 --> 00:16:08,160 Speaker 6: suddenly they need some cash. 357 00:16:08,240 --> 00:16:10,560 Speaker 7: Who's the buyer? Yeah, So that's that's where this comes in. 358 00:16:10,600 --> 00:16:13,600 Speaker 6: I think with the sports watching aspect. I do believe 359 00:16:13,600 --> 00:16:16,600 Speaker 6: that the economics are different. When you're talking about say 360 00:16:16,680 --> 00:16:19,960 Speaker 6: Saudi Arabia's public investment fund. They they are doing this 361 00:16:20,080 --> 00:16:23,400 Speaker 6: for reasons that maybe don't necessarily have to do with 362 00:16:23,480 --> 00:16:26,960 Speaker 6: the return. Maybe they are trying to divert attention from 363 00:16:26,960 --> 00:16:29,840 Speaker 6: a poor human rights record, or just simply diversify their 364 00:16:29,880 --> 00:16:32,000 Speaker 6: economies away from higher exactly. 365 00:16:32,040 --> 00:16:33,760 Speaker 2: And is there anything bad in that? And so that's 366 00:16:33,760 --> 00:16:35,480 Speaker 2: a really excellent point, you know, and I have to 367 00:16:35,560 --> 00:16:36,920 Speaker 2: kind of take the credit. You know, what is the 368 00:16:36,960 --> 00:16:40,680 Speaker 2: difference between being passionate about perception? And that's really what 369 00:16:40,720 --> 00:16:43,640 Speaker 2: we're talking about here, right, And so I'm not defending 370 00:16:43,680 --> 00:16:46,560 Speaker 2: at all, you know, the reasoning behind it. What I am, 371 00:16:46,920 --> 00:16:48,640 Speaker 2: I guess a little bit concerned of is when you 372 00:16:48,640 --> 00:16:49,960 Speaker 2: open up this I mean we've seen this in the 373 00:16:50,040 --> 00:16:52,160 Speaker 2: US economy, right, when you open up the purse strings 374 00:16:52,160 --> 00:16:55,360 Speaker 2: and you let everybody in all at once when you know, 375 00:16:56,240 --> 00:16:59,320 Speaker 2: sometimes when the exit and sign is flashing red, you know, 376 00:16:59,360 --> 00:17:01,440 Speaker 2: things can god probably wrong and I hope that people 377 00:17:01,480 --> 00:17:02,160 Speaker 2: are thinking about that. 378 00:17:02,280 --> 00:17:04,840 Speaker 6: Yeah, and it just can get really messy politically really fast. 379 00:17:04,920 --> 00:17:07,040 Speaker 6: You have these fit and proper tests to say who 380 00:17:07,040 --> 00:17:08,879 Speaker 6: can be an owner. The all owners all vote who 381 00:17:08,920 --> 00:17:09,400 Speaker 6: to let in. 382 00:17:09,400 --> 00:17:11,479 Speaker 5: And wait, wait, wait, walk us through that. What's fit 383 00:17:11,600 --> 00:17:12,200 Speaker 5: and proper tests? 384 00:17:12,240 --> 00:17:12,880 Speaker 7: That's the question. 385 00:17:14,000 --> 00:17:14,560 Speaker 1: It's not me. 386 00:17:14,800 --> 00:17:16,479 Speaker 6: That's how they call it, and that's what they call 387 00:17:16,520 --> 00:17:19,200 Speaker 6: it in the Premier League. And that's basically to say, 388 00:17:19,200 --> 00:17:21,000 Speaker 6: we don't let anyone be an owner who we don't 389 00:17:21,000 --> 00:17:22,960 Speaker 6: think is fit and proper. But in effect it seems 390 00:17:23,000 --> 00:17:26,360 Speaker 6: to be we don't let anyone become an owner who can't. 391 00:17:26,160 --> 00:17:27,600 Speaker 7: Afford to buy the club. 392 00:17:27,680 --> 00:17:31,000 Speaker 6: I mean, you have clubs there now essentially Saudi Arabia 393 00:17:31,080 --> 00:17:35,560 Speaker 6: owns Newcastle, uh, and that is for some people, you know, 394 00:17:36,600 --> 00:17:38,960 Speaker 6: a problem. And the league said, look, they passed the 395 00:17:38,960 --> 00:17:41,480 Speaker 6: fit and proper test. The public investment fund is run, 396 00:17:41,560 --> 00:17:45,359 Speaker 6: has its own management, YadA YadA. But essentially what's happening is, 397 00:17:45,680 --> 00:17:48,399 Speaker 6: you know, Saudi Arabia is running that English Premier League club. 398 00:17:48,560 --> 00:17:53,120 Speaker 1: Well, it's hard to make the fit and proper argument 399 00:17:54,200 --> 00:17:58,320 Speaker 1: from the league standpoint, if you're hosting two preseason games 400 00:17:58,320 --> 00:18:02,560 Speaker 1: in Abu Dhabi, yeah, minister against Dallas. So I mean, 401 00:18:02,880 --> 00:18:05,119 Speaker 1: if the point is it is like, well, we're worried 402 00:18:05,119 --> 00:18:08,080 Speaker 1: about sports washing, well then why are you there? I mean, 403 00:18:08,119 --> 00:18:11,639 Speaker 1: I'm not trying to slam the league, right exactly. I 404 00:18:11,640 --> 00:18:13,760 Speaker 1: mean I think David Stern is one of the greatest 405 00:18:13,880 --> 00:18:16,800 Speaker 1: ever in terms of a commissioner, but it does bring 406 00:18:16,880 --> 00:18:19,200 Speaker 1: up the point it's like, Okay, well, if that's the case, 407 00:18:19,840 --> 00:18:22,480 Speaker 1: then why are you and Abu Dhabi because obviously you're 408 00:18:22,520 --> 00:18:24,640 Speaker 1: trying to show people the product. 409 00:18:24,840 --> 00:18:25,080 Speaker 7: Yeah. 410 00:18:25,119 --> 00:18:26,720 Speaker 6: I mean, I think it's a really thorny question. I 411 00:18:26,760 --> 00:18:28,520 Speaker 6: don't have if I knew the answers, I might be 412 00:18:28,560 --> 00:18:31,879 Speaker 6: working and as a commissioner somewhere, but they they definitely. 413 00:18:31,960 --> 00:18:33,840 Speaker 6: I think what you can ask for as a fan 414 00:18:33,960 --> 00:18:36,600 Speaker 6: is some transparency. You know, what are the rules and 415 00:18:37,200 --> 00:18:39,400 Speaker 6: how are they are they uniformly enforced? 416 00:18:39,600 --> 00:18:42,840 Speaker 1: Our thanks to Bloomberg News Global business reporter Ira Bodway 417 00:18:43,040 --> 00:18:45,760 Speaker 1: for joining us. You can check out more of his 418 00:18:45,920 --> 00:18:49,520 Speaker 1: reporting online and it is very good at Bloomberg dot 419 00:18:49,520 --> 00:18:52,280 Speaker 1: com and on the Bloomberg terminal. Up next, we hear 420 00:18:52,359 --> 00:18:56,160 Speaker 1: from NHL Hall of Famer Mark Messier at this straight 421 00:18:56,200 --> 00:18:58,960 Speaker 1: Ahead on the Bloomberg Business of Sports from Bloomberg Radio. 422 00:18:59,119 --> 00:19:00,160 Speaker 1: Around the world. 423 00:19:15,600 --> 00:19:19,760 Speaker 8: You're listening to Bloomberg Business of Sports from Bloomberg Radio. 424 00:19:21,520 --> 00:19:23,840 Speaker 1: This is the Bloomberg Business of Sports show where we 425 00:19:23,920 --> 00:19:26,200 Speaker 1: explore the big money issues in the world the sports 426 00:19:26,440 --> 00:19:30,360 Speaker 1: Michael Barr along with Scarlet Foo and Damian Sasaur. This week, 427 00:19:30,440 --> 00:19:33,040 Speaker 1: Scarlett had the pleasure of speaking with NHL Hall of 428 00:19:33,040 --> 00:19:38,520 Speaker 1: Famer Mark Messier, lucky person, you about the new venture 429 00:19:38,600 --> 00:19:41,920 Speaker 1: with entrepreneur Matt Vlassig on a new platform. 430 00:19:41,960 --> 00:19:44,320 Speaker 5: Scarlett, Yeah, it was super exciting because, as you know, 431 00:19:44,359 --> 00:19:47,399 Speaker 5: I'm a big Arranger fan, and their new venture is 432 00:19:47,440 --> 00:19:50,600 Speaker 5: called Game Seven. So it's really about when the stakes 433 00:19:50,600 --> 00:19:52,639 Speaker 5: are high and the pressure's on, and you got to 434 00:19:52,640 --> 00:19:54,240 Speaker 5: perform it and you got to deliver and you have 435 00:19:54,320 --> 00:19:56,919 Speaker 5: one shot to do it. And of course Messia he 436 00:19:57,000 --> 00:19:59,199 Speaker 5: knows a little thing or two about delivering when it 437 00:19:59,240 --> 00:20:00,560 Speaker 5: counts illments. 438 00:20:01,960 --> 00:20:04,680 Speaker 8: But why go so far New York? 439 00:20:05,400 --> 00:20:07,600 Speaker 9: So the Stanley Cup to events. 440 00:20:10,280 --> 00:20:12,720 Speaker 8: This long last a lifetime. 441 00:20:13,640 --> 00:20:17,840 Speaker 10: Boss, Yes, untile. 442 00:20:18,760 --> 00:20:22,720 Speaker 4: Like the cele flaship begins. 443 00:20:22,800 --> 00:20:23,639 Speaker 8: Man, I didn't know. 444 00:20:25,040 --> 00:20:29,400 Speaker 1: Spoke with Messi and Blast along with Bloomberg's remain Vostic. 445 00:20:29,680 --> 00:20:31,280 Speaker 1: Let's listen in on their conversation. 446 00:20:31,640 --> 00:20:33,840 Speaker 5: Mark, I have to start with you because I want 447 00:20:33,880 --> 00:20:35,159 Speaker 5: you to set the scene for us a little bit. 448 00:20:35,160 --> 00:20:35,320 Speaker 11: Here. 449 00:20:35,520 --> 00:20:38,080 Speaker 5: Tell us briefly what Game seven, the idea of it 450 00:20:38,280 --> 00:20:40,399 Speaker 5: means to you, because on the ice, it's really a 451 00:20:40,480 --> 00:20:42,359 Speaker 5: do or die moment when your back is up against 452 00:20:42,359 --> 00:20:42,640 Speaker 5: the wall. 453 00:20:43,000 --> 00:20:46,040 Speaker 11: Well, it's incredibly, incredibly grateful for the experience I had 454 00:20:46,080 --> 00:20:48,840 Speaker 11: as a National Hockey League player, and not only for 455 00:20:48,880 --> 00:20:50,800 Speaker 11: the teammate that I played with, but also for the 456 00:20:50,880 --> 00:20:58,600 Speaker 11: experiences that have blended blended well into retirement for me gratitude. 457 00:20:59,320 --> 00:21:02,200 Speaker 11: I was so great ful for the for the experiences 458 00:21:03,320 --> 00:21:07,119 Speaker 11: that I had as a player, the winning championships, Uh, 459 00:21:07,600 --> 00:21:12,560 Speaker 11: the effort required, the discipline that it took, the team 460 00:21:13,119 --> 00:21:16,679 Speaker 11: concept that was always prevalent trying to uh to your 461 00:21:16,720 --> 00:21:19,840 Speaker 11: point win a championship. It's not easy, it's not for everybody. 462 00:21:20,280 --> 00:21:23,119 Speaker 11: But those learnings have sustained me well into retirement and 463 00:21:23,200 --> 00:21:27,760 Speaker 11: I'm and when I think about my past experiences, it 464 00:21:28,160 --> 00:21:31,000 Speaker 11: just reminded me that there's there's a reason why people 465 00:21:31,080 --> 00:21:34,800 Speaker 11: are successful. There's a reason why people do great things. 466 00:21:34,880 --> 00:21:36,680 Speaker 11: In the most pressurized moments. 467 00:21:37,160 --> 00:21:49,160 Speaker 9: Comes it down in the stop I'm lentend the cold 468 00:21:49,320 --> 00:21:55,520 Speaker 9: shot that had track Mark Messier sport Stanley Cup hat 469 00:21:55,600 --> 00:21:58,480 Speaker 9: trick and his first as a New York Ranger. 470 00:21:59,280 --> 00:22:01,960 Speaker 11: And Game seven is really based on trying to teach 471 00:22:02,400 --> 00:22:05,440 Speaker 11: and to help people learn those experiences and so they 472 00:22:05,640 --> 00:22:08,920 Speaker 11: themselves can ask them what is my Game seven moment? 473 00:22:08,960 --> 00:22:10,840 Speaker 11: And how I react when it can when I'm faced 474 00:22:10,840 --> 00:22:11,000 Speaker 11: with it? 475 00:22:11,240 --> 00:22:13,840 Speaker 5: Okay, that leads us perfectly to Matt. How does Game 476 00:22:13,920 --> 00:22:16,320 Speaker 5: seven form the basis then, of this new business that 477 00:22:16,400 --> 00:22:16,879 Speaker 5: you're starting? 478 00:22:17,200 --> 00:22:19,520 Speaker 12: Yeah, so what we're doing here is Game seven is 479 00:22:19,560 --> 00:22:24,360 Speaker 12: an innovative performance lifestyle platform underscoring the journey to success. 480 00:22:25,560 --> 00:22:29,480 Speaker 12: We will come to life through content, community experiences, and 481 00:22:29,800 --> 00:22:33,680 Speaker 12: ultimately consumer products. And look, our mission is to help 482 00:22:33,760 --> 00:22:38,439 Speaker 12: inspire and equip you me to achieve our Game seven moments. 483 00:22:38,760 --> 00:22:40,960 Speaker 12: Not all of us can do what Mark has done, 484 00:22:41,000 --> 00:22:43,240 Speaker 12: but if we listen to his stories and other athletes 485 00:22:43,320 --> 00:22:46,960 Speaker 12: like himself who have achieved the unconquerable, have won in 486 00:22:47,080 --> 00:22:50,560 Speaker 12: those unparalleled moments and seven of nine Game sevens, Yeah, 487 00:22:50,800 --> 00:22:52,080 Speaker 12: there's so much for us to learn. 488 00:22:52,280 --> 00:22:54,200 Speaker 10: Oh seriously, you name that gave in Game seven that 489 00:22:54,240 --> 00:22:55,119 Speaker 10: wasn't a coincidence. 490 00:22:56,440 --> 00:22:57,040 Speaker 8: I'm curious. 491 00:22:57,040 --> 00:22:58,880 Speaker 10: I give us a sense here though, of what people 492 00:22:58,920 --> 00:23:01,080 Speaker 10: can expect when you get the full launch up here. 493 00:23:01,400 --> 00:23:03,560 Speaker 10: It's obviously not just going to be Mark talking into 494 00:23:03,600 --> 00:23:04,879 Speaker 10: a microphone. There's going to be a lot of other 495 00:23:04,880 --> 00:23:05,720 Speaker 10: stuff going on as. 496 00:23:05,600 --> 00:23:06,720 Speaker 8: Well, right, Yes, for sure. 497 00:23:06,760 --> 00:23:09,600 Speaker 12: As I mentioned, there's a whole slew of content, and 498 00:23:09,720 --> 00:23:12,560 Speaker 12: we will come back to talk more about it. It'll 499 00:23:12,800 --> 00:23:15,600 Speaker 12: debut in twenty twenty four. There will be experiences, we 500 00:23:15,640 --> 00:23:18,679 Speaker 12: will rally our community around Game seven, and ultimately there 501 00:23:18,680 --> 00:23:20,800 Speaker 12: will be products that will help equip you to achieve 502 00:23:20,880 --> 00:23:21,439 Speaker 12: those moments. 503 00:23:21,880 --> 00:23:24,800 Speaker 5: And of course, Matt, this new venture has a number 504 00:23:24,800 --> 00:23:27,280 Speaker 5: of other co founders. Aside from Mark Messi and yourself, 505 00:23:27,320 --> 00:23:30,840 Speaker 5: you've also got Danny DeVito, Isaac Chara. Your investors include 506 00:23:31,600 --> 00:23:34,640 Speaker 5: Chris mull and Tommy Hilfiger. Jennie Buss of course, daughter 507 00:23:34,760 --> 00:23:36,959 Speaker 5: of Jerry Buss. Tell us a little bit about how 508 00:23:37,000 --> 00:23:38,040 Speaker 5: this all came together. 509 00:23:39,359 --> 00:23:39,560 Speaker 8: Well. 510 00:23:39,840 --> 00:23:44,760 Speaker 12: Interestingly, Mark and Ike were approached by a small company 511 00:23:44,800 --> 00:23:47,560 Speaker 12: who had registered some trademarks to Game seven, and in 512 00:23:47,680 --> 00:23:50,440 Speaker 12: the deck was a picture of Mark and they said, 513 00:23:50,520 --> 00:23:52,480 Speaker 12: this is amazing. We don't want to invest, we want 514 00:23:52,520 --> 00:23:55,560 Speaker 12: to own, and so we had a grand vision of 515 00:23:55,600 --> 00:23:58,400 Speaker 12: what we could do with Game seven and how important 516 00:23:58,440 --> 00:24:01,040 Speaker 12: it was to Mark's career and many other athletes career, 517 00:24:01,480 --> 00:24:04,480 Speaker 12: and then the team that we reached out to and 518 00:24:04,640 --> 00:24:07,440 Speaker 12: the names that you mentioned, and they're even more all 519 00:24:07,560 --> 00:24:10,520 Speaker 12: resonated with it. Even a guy like Danny DeVito has 520 00:24:10,600 --> 00:24:12,800 Speaker 12: his own Game seven moment, and he talks about when 521 00:24:12,840 --> 00:24:17,399 Speaker 12: he interviewed or read for Taxi and walked in and 522 00:24:17,680 --> 00:24:20,080 Speaker 12: threw the script down on the ground and said, wrote 523 00:24:20,080 --> 00:24:23,159 Speaker 12: this stuff, And that was his Game seven moment. It 524 00:24:23,160 --> 00:24:24,640 Speaker 12: could have gone either way. It was do or die, 525 00:24:24,720 --> 00:24:26,920 Speaker 12: put it all on the line, and I achieved his 526 00:24:26,960 --> 00:24:27,760 Speaker 12: Game seven moments. 527 00:24:28,000 --> 00:24:29,800 Speaker 5: So, Mark, I got to ask you, because you're beloved 528 00:24:30,080 --> 00:24:32,240 Speaker 5: to New Yorkers for what you achieved, not in Game seven, 529 00:24:32,320 --> 00:24:35,159 Speaker 5: button game six, when you basically promised that the Rangers 530 00:24:35,200 --> 00:24:37,360 Speaker 5: would win Game six and then move on to Game 531 00:24:37,480 --> 00:24:41,480 Speaker 5: seven and move forward to the finals. Talk about the 532 00:24:41,520 --> 00:24:44,040 Speaker 5: importance of the mental preparation that you need to do 533 00:24:44,240 --> 00:24:45,679 Speaker 5: before a Game seven moments. 534 00:24:46,000 --> 00:24:48,080 Speaker 11: Yeah, I think it really gets down to trust, not 535 00:24:48,160 --> 00:24:50,399 Speaker 11: only trusting your teammates, but trusting yourself. You put the 536 00:24:50,520 --> 00:24:52,440 Speaker 11: work in, you put all the effort into all the 537 00:24:52,520 --> 00:24:55,240 Speaker 11: way leading up into those moments there, and you have 538 00:24:55,359 --> 00:24:58,920 Speaker 11: to have an unwavering belief in yourself. Nobody can hand 539 00:24:58,960 --> 00:25:01,920 Speaker 11: out to five gallon buckets of confidence. The confidence comes 540 00:25:01,960 --> 00:25:04,240 Speaker 11: from the effort and the discipline and the things that 541 00:25:04,280 --> 00:25:05,439 Speaker 11: you put into your craft. 542 00:25:05,720 --> 00:25:06,520 Speaker 7: For me was hockey. 543 00:25:06,960 --> 00:25:08,720 Speaker 11: And so when you're faced with those kinds of moments, 544 00:25:09,280 --> 00:25:11,920 Speaker 11: on those critical times, you get into a deep sense 545 00:25:11,960 --> 00:25:14,280 Speaker 11: of relaxation because you know you've put the work in, 546 00:25:14,600 --> 00:25:17,680 Speaker 11: You've done it a thousand or more times in your lifetime, 547 00:25:17,960 --> 00:25:20,280 Speaker 11: and it's really about just executing on those moments there, 548 00:25:20,440 --> 00:25:24,960 Speaker 11: not or forgetting about the what ifs, the outcomes, just 549 00:25:25,440 --> 00:25:28,520 Speaker 11: play the game and stay in a moment. It's easier 550 00:25:28,560 --> 00:25:31,520 Speaker 11: said than then, obviously, because I've failed many times myself 551 00:25:31,600 --> 00:25:35,600 Speaker 11: and suffered many heart breaks throughout my career. That was 552 00:25:35,680 --> 00:25:39,800 Speaker 11: very disappointing, But overall there's a way that to success, 553 00:25:39,960 --> 00:25:41,520 Speaker 11: and I think that's what's for me. Is one of 554 00:25:41,520 --> 00:25:45,280 Speaker 11: the most important things about starting this game seven brand 555 00:25:45,359 --> 00:25:49,680 Speaker 11: is that I can hopefully, hopefully inspire many boys and 556 00:25:49,760 --> 00:25:52,320 Speaker 11: girls to joy chase their dreams, but give them the 557 00:25:52,400 --> 00:25:54,159 Speaker 11: tools required to be successful. 558 00:25:54,320 --> 00:25:55,359 Speaker 7: Well, what's the endgame though? 559 00:25:55,440 --> 00:25:57,879 Speaker 10: When we talk about building out the business here. I mean, 560 00:25:57,920 --> 00:26:01,399 Speaker 10: what exactly do you hope does maybe at this business 561 00:26:01,800 --> 00:26:03,560 Speaker 10: when maybe potentially you're long gone. 562 00:26:04,119 --> 00:26:06,840 Speaker 11: Well, that's that's that's a great question. We think we 563 00:26:06,920 --> 00:26:10,440 Speaker 11: can branch outside of sports into the Game seven realm. 564 00:26:10,640 --> 00:26:13,040 Speaker 11: As we're talking about what's your Game seven moment? Everybody 565 00:26:13,119 --> 00:26:14,720 Speaker 11: has had a Game seven moment in their life. I 566 00:26:14,760 --> 00:26:17,479 Speaker 11: can guarantee you and what happened in those moments? How 567 00:26:17,520 --> 00:26:20,920 Speaker 11: did you internalize that? What was the effect of it 568 00:26:21,040 --> 00:26:23,720 Speaker 11: on you? Did you make the right decision? And were 569 00:26:23,760 --> 00:26:26,000 Speaker 11: you successful or did you fail? And if you did fail, 570 00:26:26,119 --> 00:26:28,440 Speaker 11: what happened after that? Did you keep climbing, did you 571 00:26:28,520 --> 00:26:31,040 Speaker 11: keep trying? Did you get back up and keep swinging? 572 00:26:31,240 --> 00:26:31,760 Speaker 1: So to speak? 573 00:26:31,840 --> 00:26:35,160 Speaker 11: So I think for us, you know, the inspiration aspirational 574 00:26:35,359 --> 00:26:37,720 Speaker 11: brand is super important to us, and we think we 575 00:26:37,800 --> 00:26:40,399 Speaker 11: can we can do that to many people, not only a. 576 00:26:40,480 --> 00:26:41,760 Speaker 3: Young and old mark. 577 00:26:41,800 --> 00:26:44,000 Speaker 5: One final question, not Connor Bodard, who of course is 578 00:26:44,040 --> 00:26:47,560 Speaker 5: the generational talent. Yeah, is he going to get to 579 00:26:47,600 --> 00:26:50,160 Speaker 5: a Game seven with Romain's Chicago blocks? 580 00:26:50,800 --> 00:26:52,560 Speaker 11: I would assume he's going to play in many Game 581 00:26:52,600 --> 00:26:56,040 Speaker 11: seven throughout his contract, throughout his career to guard. 582 00:26:55,920 --> 00:26:58,680 Speaker 3: Proper to black tottle wear. 583 00:27:01,440 --> 00:27:05,760 Speaker 8: This the Star Special Hockey League Joe. 584 00:27:07,359 --> 00:27:09,880 Speaker 11: Think about the pressure that that young man has had 585 00:27:09,960 --> 00:27:11,920 Speaker 11: on him since the early age and then coming to 586 00:27:12,040 --> 00:27:15,840 Speaker 11: National Hockey League, get drafted first, overall all the expectations 587 00:27:15,880 --> 00:27:20,040 Speaker 11: and a storied franchise coming in there and winning the 588 00:27:20,160 --> 00:27:22,080 Speaker 11: first game ever in the National Hockey League was It 589 00:27:22,160 --> 00:27:24,840 Speaker 11: was incredible to watch, actually, and you know how many 590 00:27:25,160 --> 00:27:27,119 Speaker 11: eighteen year olds have that kind of composure. 591 00:27:27,440 --> 00:27:30,840 Speaker 1: That's a special conversation Scarlett fu and our colleague Romaine 592 00:27:30,920 --> 00:27:35,000 Speaker 1: Bostik had with NHL Hall of Famer Mark Messier. Up 593 00:27:35,080 --> 00:27:37,720 Speaker 1: next on the show, we turned to soccer and talk 594 00:27:37,840 --> 00:27:40,320 Speaker 1: with La Galaxy COO Tom Brawn. 595 00:27:40,440 --> 00:27:43,480 Speaker 3: I would argue the next US Star, the next star 596 00:27:44,000 --> 00:27:45,879 Speaker 3: as actually a player that's already on the Galaxy. It's 597 00:27:45,960 --> 00:27:48,080 Speaker 3: it's a it's a young center back that we had 598 00:27:48,200 --> 00:27:50,320 Speaker 3: nam Jalen Neil who's starting to move up the ranks 599 00:27:51,680 --> 00:27:54,280 Speaker 3: on our team, and it's starting to get really recognized 600 00:27:54,359 --> 00:27:57,440 Speaker 3: on the US men's national team. And I think calling 601 00:27:57,520 --> 00:28:00,280 Speaker 3: into the World Cup in twenty Jollion and six to 602 00:28:00,320 --> 00:28:02,320 Speaker 3: see what you can do not only for the Galaxy 603 00:28:02,359 --> 00:28:03,480 Speaker 3: but for our country. 604 00:28:04,080 --> 00:28:07,520 Speaker 1: Straight ahead on the Bloomberg Business of Sports Bloomberg Radio 605 00:28:07,760 --> 00:28:24,320 Speaker 1: around the world. Thanks for joining us on the Bloomberg 606 00:28:24,400 --> 00:28:27,200 Speaker 1: Business of Sports show. We explore the big old money 607 00:28:27,280 --> 00:28:29,480 Speaker 1: issues in the world of sports on Michael Barr along 608 00:28:29,560 --> 00:28:34,119 Speaker 1: with Scarlett Foo and Damian Sasaur. The LA Galaxy is 609 00:28:34,280 --> 00:28:36,840 Speaker 1: Major League Soccer's most successful club. 610 00:28:36,960 --> 00:28:37,760 Speaker 5: We're so goes. 611 00:28:37,880 --> 00:28:42,560 Speaker 9: Alle Galaxy are the champions, this glittering Galaxy. 612 00:28:42,760 --> 00:28:45,680 Speaker 5: They've won the NLS Cup five times and beyond that, 613 00:28:45,840 --> 00:28:48,400 Speaker 5: they've worked really hard to create a great experience for 614 00:28:48,480 --> 00:28:48,920 Speaker 5: their fans. 615 00:28:49,040 --> 00:28:52,200 Speaker 2: That's right. The club launch the LA Galaxy Fan Council 616 00:28:52,640 --> 00:28:55,320 Speaker 2: to help get fans involved. Get inside the bedroom and 617 00:28:55,360 --> 00:28:56,520 Speaker 2: see just how the club works. 618 00:28:56,960 --> 00:28:59,440 Speaker 1: Here to take us through that and what makes the 619 00:28:59,560 --> 00:29:03,200 Speaker 1: Galaxy he's successful on and off the field. We welcome 620 00:29:03,520 --> 00:29:08,400 Speaker 1: Galaxy President of Business Operations and Chief Operating Officer, Tom Braun. Tom, 621 00:29:09,080 --> 00:29:10,920 Speaker 1: Welcome to the Bloomberg Business of Sports. 622 00:29:11,000 --> 00:29:13,400 Speaker 3: Hey everyone, happy to be here. Thanks for including me. 623 00:29:14,040 --> 00:29:17,680 Speaker 1: Well, let's talk about the big thing now, especially let's 624 00:29:17,720 --> 00:29:22,200 Speaker 1: start Lionel Messi has just taken everything off the chart. 625 00:29:22,720 --> 00:29:26,000 Speaker 1: If people who didn't even know what the heck soccer 626 00:29:26,320 --> 00:29:30,640 Speaker 1: was now no, and this has got to be a 627 00:29:30,800 --> 00:29:34,520 Speaker 1: boost for all the soccer teams, and I'm assuming with 628 00:29:34,640 --> 00:29:35,520 Speaker 1: the La Galaxy. 629 00:29:36,880 --> 00:29:38,760 Speaker 3: Yeah, I think it is a boost. You know, our 630 00:29:38,880 --> 00:29:42,640 Speaker 3: league is twenty five years old. It's a relatively young league, 631 00:29:42,680 --> 00:29:45,520 Speaker 3: but at this point we have the World cupcoming in 632 00:29:45,600 --> 00:29:48,920 Speaker 3: twenty twenty six to North America and this is just 633 00:29:49,400 --> 00:29:52,480 Speaker 3: a stepping stone for MLS. This is MLS and that's 634 00:29:52,520 --> 00:29:56,000 Speaker 3: the next edition of MLS. Right. I think Billy Galaxy 635 00:29:56,080 --> 00:29:58,200 Speaker 3: kind of set the bar with this back in two 636 00:29:58,200 --> 00:30:00,920 Speaker 3: thousand and seven with David beck Come signing and then 637 00:30:00,960 --> 00:30:03,400 Speaker 3: appreciated to follow it up with some additional signings and 638 00:30:03,760 --> 00:30:05,360 Speaker 3: this is the next level. You know. Messi is a 639 00:30:05,640 --> 00:30:08,080 Speaker 3: great addition to our league. It's it's a great timing 640 00:30:08,200 --> 00:30:11,160 Speaker 3: for our league with the introduction of the Apple MLS 641 00:30:11,200 --> 00:30:13,880 Speaker 3: Season Fast Deal. So yeah, no, I think it's a 642 00:30:13,880 --> 00:30:15,280 Speaker 3: boost across the board for everybody. 643 00:30:15,880 --> 00:30:18,479 Speaker 5: Do you have a sense of how impactful Messi has 644 00:30:18,560 --> 00:30:23,040 Speaker 5: been when it comes to subscriptions for MLS on Apple 645 00:30:23,120 --> 00:30:27,320 Speaker 5: Plus and just some of the benefits, the direct benefits 646 00:30:27,360 --> 00:30:31,400 Speaker 5: we've seen from the superstar signing of Linel Messi to 647 00:30:31,600 --> 00:30:32,160 Speaker 5: the MLS. 648 00:30:33,360 --> 00:30:35,600 Speaker 3: Yeah, just some of the reports out recently. I think 649 00:30:35,920 --> 00:30:37,800 Speaker 3: half a year, not even a half a year. In 650 00:30:37,880 --> 00:30:39,800 Speaker 3: a month and a half, he led the league in 651 00:30:39,880 --> 00:30:42,280 Speaker 3: Jersey Zales. Just in a month and a half, you're 652 00:30:42,320 --> 00:30:46,360 Speaker 3: seeing stadiums sell out, big NFL sized stadiums are selling 653 00:30:46,400 --> 00:30:51,280 Speaker 3: out to watch the play. Apple subscriptions continue to go 654 00:30:51,480 --> 00:30:54,720 Speaker 3: higher and hire. It's only a benefit. And now, really 655 00:30:54,760 --> 00:30:57,080 Speaker 3: what it's going to take for our league is how 656 00:30:57,080 --> 00:30:59,200 Speaker 3: do you capitalize on it? How do you take this 657 00:31:00,080 --> 00:31:03,480 Speaker 3: moment and make sure that we uh leverage it and 658 00:31:04,400 --> 00:31:05,080 Speaker 3: do right by it. 659 00:31:05,440 --> 00:31:06,800 Speaker 5: How are you doing that then, Tom? 660 00:31:08,080 --> 00:31:11,120 Speaker 3: Yeah, So the only Galaxy we haven't had the fortune 661 00:31:11,120 --> 00:31:13,520 Speaker 3: of playing in Miami, I think the l Sports Park 662 00:31:13,520 --> 00:31:15,600 Speaker 3: where we're hopeful for next year that that our fans 663 00:31:15,600 --> 00:31:17,600 Speaker 3: can see them play and apt of my teams can't 664 00:31:17,600 --> 00:31:19,840 Speaker 3: get three points against the next year. But we had 665 00:31:19,880 --> 00:31:22,479 Speaker 3: to strategize and make sure that we do the right 666 00:31:22,560 --> 00:31:24,440 Speaker 3: things because in the end, it's a bit of a 667 00:31:24,520 --> 00:31:26,959 Speaker 3: fleeting moment, but it's hoping a building block for our 668 00:31:27,040 --> 00:31:30,000 Speaker 3: league and our team. So if we're fortunate enough next 669 00:31:30,080 --> 00:31:31,960 Speaker 3: year from the play at taking the OL Sports Park 670 00:31:32,000 --> 00:31:35,160 Speaker 3: here in LA we got to make sure that we're 671 00:31:35,200 --> 00:31:39,080 Speaker 3: taking advantage of it and really giving a good experience 672 00:31:39,240 --> 00:31:41,400 Speaker 3: to our fans and our season ticket members and making 673 00:31:41,440 --> 00:31:43,560 Speaker 3: sure that those those fans and season take members stick 674 00:31:43,600 --> 00:31:46,640 Speaker 3: around and become lifelong fans of the Onely Galaxy and 675 00:31:46,760 --> 00:31:50,920 Speaker 3: not a one match fan of of an opponent. 676 00:31:51,800 --> 00:31:51,960 Speaker 8: Tom. 677 00:31:52,040 --> 00:31:54,640 Speaker 2: Today, all the talk is about Leo Messi and in 678 00:31:54,720 --> 00:31:57,840 Speaker 2: from Miami, but not long ago, it was about David 679 00:31:57,880 --> 00:32:00,160 Speaker 2: Beckham and the LA Galaxy. And I'm wondering if you 680 00:32:00,160 --> 00:32:02,640 Speaker 2: can talk to us a little bit about this new 681 00:32:03,040 --> 00:32:07,479 Speaker 2: Netflix documentary Beckham, which has revealed a few things, one 682 00:32:07,520 --> 00:32:10,920 Speaker 2: of which was the rift between Landon Donovan and David 683 00:32:11,000 --> 00:32:13,560 Speaker 2: Beckham while they played together on the Galaxy. I mean, 684 00:32:14,440 --> 00:32:16,160 Speaker 2: what's coming out of that? I mean, does that make 685 00:32:16,200 --> 00:32:18,680 Speaker 2: your day job a little bit more difficult fielding questions 686 00:32:18,800 --> 00:32:22,400 Speaker 2: like this or is it just kind of more smoke? 687 00:32:23,720 --> 00:32:26,160 Speaker 3: Well, I haven't seen the documentary and I wasn't with 688 00:32:26,280 --> 00:32:28,600 Speaker 3: the club back when those two guys were playing together, 689 00:32:28,640 --> 00:32:31,400 Speaker 3: But I think it's Nashville on a team like this, 690 00:32:31,680 --> 00:32:34,040 Speaker 3: and you have competitive athletes to push each other to 691 00:32:34,280 --> 00:32:38,640 Speaker 3: a higher levels, so I wouldn't be surprised. I do 692 00:32:38,800 --> 00:32:42,240 Speaker 3: think it's a bit ironic and funny that David now 693 00:32:42,960 --> 00:32:47,000 Speaker 3: is an owner of Inner Miami, and he's competing against us, 694 00:32:47,080 --> 00:32:49,400 Speaker 3: but he was a big part of what we did 695 00:32:49,520 --> 00:32:51,520 Speaker 3: in our league and the maturation of our league and 696 00:32:51,520 --> 00:32:54,960 Speaker 3: the maturity of our league. Maybe back then we could 697 00:32:55,000 --> 00:32:58,680 Speaker 3: have done things slightly different to capitalize on his popularity. 698 00:32:58,760 --> 00:33:01,720 Speaker 3: And maybe we weren't even are of how popular David 699 00:33:02,000 --> 00:33:04,040 Speaker 3: was coming over and how big of an impact that 700 00:33:04,120 --> 00:33:06,520 Speaker 3: you would have our club. But that's where going back 701 00:33:06,560 --> 00:33:09,760 Speaker 3: to the previous comment is how do you take advantage 702 00:33:09,840 --> 00:33:11,720 Speaker 3: if you're in Miami or if you're an opponent of 703 00:33:11,760 --> 00:33:14,920 Speaker 3: inn Miami to capitalize on that big game, Because I 704 00:33:15,000 --> 00:33:18,400 Speaker 3: don't think collectively as a whole. There are many players, 705 00:33:19,080 --> 00:33:22,120 Speaker 3: individual players that play in our league to have that 706 00:33:22,400 --> 00:33:24,840 Speaker 3: type of shift or that type of momentum behind them. 707 00:33:24,880 --> 00:33:27,320 Speaker 3: And we signed really big stars at the Only Galaxy 708 00:33:27,320 --> 00:33:28,800 Speaker 3: and this is what we've done. But when it comes 709 00:33:28,840 --> 00:33:31,760 Speaker 3: down to it, our fans want to see exciting soccer. 710 00:33:31,840 --> 00:33:33,440 Speaker 3: They want to see exciting soccer the game. They want 711 00:33:33,440 --> 00:33:35,560 Speaker 3: to see a score goals and they win games. And 712 00:33:35,680 --> 00:33:36,920 Speaker 3: on top of that, they won't have a really good 713 00:33:36,960 --> 00:33:39,440 Speaker 3: time doing it right in the same experience and making 714 00:33:39,560 --> 00:33:42,320 Speaker 3: sure that this is the way they want to spend 715 00:33:42,360 --> 00:33:45,840 Speaker 3: their money on a Saturday night. So there are few 716 00:33:45,880 --> 00:33:47,960 Speaker 3: people out there that have the ability to move the 717 00:33:48,000 --> 00:33:52,040 Speaker 3: needle and lingo MESSI is certainly one of very few people. 718 00:33:52,880 --> 00:33:55,120 Speaker 1: Well, don't be worried about it a little bit snarling. 719 00:33:55,120 --> 00:33:57,080 Speaker 1: You should see Damien and I. We're in a fantasy 720 00:33:57,120 --> 00:34:01,160 Speaker 1: football league and oh my goodness, hey you got beat. 721 00:34:01,560 --> 00:34:08,200 Speaker 1: Oh I'm sorry by memory. I want to talk yeah, right, totally, 722 00:34:08,360 --> 00:34:11,880 Speaker 1: not totally. Yeah, I want to talk about the LA 723 00:34:11,960 --> 00:34:15,359 Speaker 1: Galaxy fan console. Uh and you guys, it really has 724 00:34:15,400 --> 00:34:18,920 Speaker 1: helped you guys with driving fan engagement. Can you talk 725 00:34:18,960 --> 00:34:21,080 Speaker 1: to us about that? Yeah? 726 00:34:21,239 --> 00:34:22,759 Speaker 3: Yeah, So this this season has been a bit of 727 00:34:22,800 --> 00:34:25,400 Speaker 3: a complicated season for us, and we want to make 728 00:34:25,440 --> 00:34:27,879 Speaker 3: sure that we're listening to our fans. So I don't 729 00:34:27,880 --> 00:34:31,279 Speaker 3: think many sports teams do this, but we create a 730 00:34:31,320 --> 00:34:34,439 Speaker 3: fan counsel. It's a fan counsel that we've we put 731 00:34:34,480 --> 00:34:37,520 Speaker 3: out a message to our fans. All fans doesn't have 732 00:34:37,600 --> 00:34:39,239 Speaker 3: to be a season ticket member, doesn't have to be 733 00:34:40,600 --> 00:34:45,120 Speaker 3: anybody a supporter or anybody specific. Dollfansh to submit an 734 00:34:45,120 --> 00:34:49,600 Speaker 3: application and we had over three hundred applications submitted across 735 00:34:49,640 --> 00:34:52,880 Speaker 3: the board and we selected fifteen people and they range 736 00:34:52,880 --> 00:34:56,080 Speaker 3: from a season ticket member to someone who maybe has 737 00:34:56,160 --> 00:34:59,560 Speaker 3: bought one ticket or maybe is a member of the 738 00:34:59,600 --> 00:35:03,040 Speaker 3: Carson community with the only Galaxy stadium maintaining a sports park. 739 00:35:03,840 --> 00:35:05,480 Speaker 3: So we want to hear from them, right And I 740 00:35:05,560 --> 00:35:07,880 Speaker 3: think for us to continue to move forward and be 741 00:35:08,000 --> 00:35:09,840 Speaker 3: productive is we have to do a good job listening 742 00:35:10,440 --> 00:35:12,640 Speaker 3: and listening to what our fans want and engaging them 743 00:35:12,680 --> 00:35:15,680 Speaker 3: in the conversation. So we just launched it. We just 744 00:35:15,800 --> 00:35:20,160 Speaker 3: notified those fifteen individuals, I believe last week, and we 745 00:35:20,239 --> 00:35:22,960 Speaker 3: will start publicly kind of putting it out there on 746 00:35:23,840 --> 00:35:26,160 Speaker 3: the next steps. But we part out having quarterly meetings, 747 00:35:26,600 --> 00:35:29,320 Speaker 3: and those quarterly meetings are going to be genuine and 748 00:35:29,480 --> 00:35:32,279 Speaker 3: real and we want real feedback and we're hoping that 749 00:35:32,440 --> 00:35:35,480 Speaker 3: that feedback then we can put into action and stands 750 00:35:35,520 --> 00:35:38,920 Speaker 3: can kind of be more part of the process. And 751 00:35:39,239 --> 00:35:41,520 Speaker 3: in each member of the Fan Council will serve a 752 00:35:41,600 --> 00:35:44,480 Speaker 3: twelve month term. It's not the twelve months. We will 753 00:35:44,520 --> 00:35:47,520 Speaker 3: continue to evolve and bringing new people to get new 754 00:35:47,560 --> 00:35:51,080 Speaker 3: ideas and new fresh ideas. So that's really the big 755 00:35:51,160 --> 00:35:52,960 Speaker 3: picture of it is we just want to listen more. 756 00:35:53,040 --> 00:35:55,000 Speaker 3: We want to listen more, and we want to give 757 00:35:55,080 --> 00:35:57,480 Speaker 3: back to our fans what they want. I don't want 758 00:35:57,520 --> 00:35:58,960 Speaker 3: to assume I know what they want. I want them 759 00:35:59,000 --> 00:35:59,799 Speaker 3: to tell me what they want. 760 00:36:00,440 --> 00:36:03,440 Speaker 5: Tom, I'm curious as someone based in LA with the 761 00:36:03,600 --> 00:36:08,560 Speaker 5: LA Galaxy, we recently had winning time on what was 762 00:36:08,600 --> 00:36:12,919 Speaker 5: at HBO Max and how it was. It performed well 763 00:36:13,360 --> 00:36:16,880 Speaker 5: among people who liked sports content, but it was not 764 00:36:16,960 --> 00:36:20,279 Speaker 5: renewed after a second season, and it really showcased Jerry 765 00:36:20,320 --> 00:36:25,560 Speaker 5: Buss and his approach to sports as entertainment and the 766 00:36:25,880 --> 00:36:30,000 Speaker 5: kind of innovations that he introduced to basketball, to the 767 00:36:30,120 --> 00:36:33,160 Speaker 5: NBA and really putting on a show for fans. Did 768 00:36:33,200 --> 00:36:35,840 Speaker 5: you watch it? What was your takeaway from that and 769 00:36:35,920 --> 00:36:38,640 Speaker 5: how much of what Jerry Buss implemented do you see 770 00:36:38,880 --> 00:36:41,160 Speaker 5: in professional sports today, particularly in LA. 771 00:36:42,320 --> 00:36:44,920 Speaker 3: Yeah, good question. I need to watch more, more docuseries 772 00:36:44,960 --> 00:36:47,359 Speaker 3: and more and more television. I have a four year 773 00:36:47,400 --> 00:36:50,359 Speaker 3: old in a seven month old, and I end up 774 00:36:50,360 --> 00:36:54,080 Speaker 3: watching way too much Mickey Mouse. I think documents. I 775 00:36:54,160 --> 00:36:56,600 Speaker 3: haven't seen it, but I have heard about it, and 776 00:36:56,760 --> 00:37:01,759 Speaker 3: I know it was wildly popular to watch. I think 777 00:37:01,800 --> 00:37:05,759 Speaker 3: that type of content continues to be of interest to 778 00:37:05,840 --> 00:37:08,200 Speaker 3: a lot of fans. The behind the scenes, the docu 779 00:37:08,400 --> 00:37:11,480 Speaker 3: series content continues to be something that that fans want 780 00:37:11,560 --> 00:37:14,200 Speaker 3: more of, and I think it's an interesting approach. You've 781 00:37:14,200 --> 00:37:15,880 Speaker 3: seen a number of other teams start to roll this 782 00:37:16,040 --> 00:37:18,440 Speaker 3: out and you see kind of like a drive to survive, 783 00:37:18,600 --> 00:37:21,279 Speaker 3: kind of like a Hard Knox, but at the team level. 784 00:37:21,360 --> 00:37:25,399 Speaker 3: And you know, that's something we were exploring. We want 785 00:37:25,480 --> 00:37:28,640 Speaker 3: to bring different type of content, branded content, behind the 786 00:37:28,680 --> 00:37:31,440 Speaker 3: scenes content that that allows our fans to kind of 787 00:37:31,640 --> 00:37:34,399 Speaker 3: get to know what the Galaxy are about a bit 788 00:37:34,480 --> 00:37:37,560 Speaker 3: more than what they might see on an Instagram post 789 00:37:37,760 --> 00:37:39,920 Speaker 3: or a social media post of a of a player 790 00:37:40,000 --> 00:37:42,080 Speaker 3: scoring a goal in celebrated. So what is it? What 791 00:37:42,200 --> 00:37:44,520 Speaker 3: does it take to make up the LA Galaxy? And 792 00:37:44,600 --> 00:37:47,799 Speaker 3: you know the blood, sweat tears that go into whether 793 00:37:47,880 --> 00:37:51,120 Speaker 3: it's down in the soccer Operations group or or with 794 00:37:51,200 --> 00:37:53,680 Speaker 3: the business ops group, it's a it's a strong group 795 00:37:53,719 --> 00:37:56,840 Speaker 3: of individuals that are really giving everything that they have 796 00:37:57,400 --> 00:38:00,320 Speaker 3: to find success and to be you know, thing that 797 00:38:00,440 --> 00:38:02,120 Speaker 3: our city and our community can be proud of. 798 00:38:03,280 --> 00:38:07,440 Speaker 2: Tom you've been CEO of the Los Angeles Galaxy now 799 00:38:07,560 --> 00:38:09,719 Speaker 2: for a little over a month. Prior to that, you 800 00:38:09,840 --> 00:38:13,040 Speaker 2: were at ag Right, which owns the LA Galaxy, for 801 00:38:13,080 --> 00:38:14,480 Speaker 2: a period of time. And one of the things that 802 00:38:14,520 --> 00:38:17,120 Speaker 2: you designed and launched wallet AEG, if I'm not mistaken, 803 00:38:17,360 --> 00:38:20,040 Speaker 2: is the Kachella Velly Invitational, right, which is sort of 804 00:38:20,080 --> 00:38:23,640 Speaker 2: a MLS pre season event that takes place, you know, 805 00:38:23,840 --> 00:38:26,600 Speaker 2: where the iconic Coachella Valley Music Arts, music and Arts 806 00:38:26,640 --> 00:38:30,080 Speaker 2: festival takes place. So you know, you know Coachella. I 807 00:38:30,160 --> 00:38:33,320 Speaker 2: think of Coachella, I think of you know, young people. 808 00:38:33,480 --> 00:38:35,920 Speaker 2: You know you were named sports uh you know, business 809 00:38:36,000 --> 00:38:38,040 Speaker 2: journals forty under forty on aree. So now that I 810 00:38:38,080 --> 00:38:39,560 Speaker 2: hear you have two little ones at home, it kind 811 00:38:39,560 --> 00:38:41,680 Speaker 2: of takes a little bit away for me, you know, 812 00:38:41,719 --> 00:38:43,560 Speaker 2: in terms of who I'm talking with. I'm thinking, I'm 813 00:38:43,560 --> 00:38:46,600 Speaker 2: thinking you're some hip you know, young coo for some amazelingk. 814 00:38:47,160 --> 00:38:51,239 Speaker 2: But but truthfully, those events, those types of initiatives that 815 00:38:51,400 --> 00:38:53,560 Speaker 2: you know are basically taking place in order to help 816 00:38:53,640 --> 00:38:56,560 Speaker 2: introduce the fan you know really you know, the country 817 00:38:56,680 --> 00:38:59,440 Speaker 2: to soccer ahead of the World Cup. Talk to us 818 00:38:59,440 --> 00:39:01,960 Speaker 2: about what more we can expect, what more needs to 819 00:39:02,000 --> 00:39:04,479 Speaker 2: be done in the lead in to that event. 820 00:39:05,680 --> 00:39:07,879 Speaker 3: Yeah, so this is this is a really great event, 821 00:39:08,880 --> 00:39:10,640 Speaker 3: and this is the power of AEG and this is 822 00:39:10,680 --> 00:39:12,880 Speaker 3: what this is what AGG so ag the owner, the 823 00:39:12,960 --> 00:39:16,719 Speaker 3: owner of the l Galaxy. There was an idea it 824 00:39:16,960 --> 00:39:20,000 Speaker 3: was probably two years ago where we own and operated 825 00:39:20,000 --> 00:39:22,920 Speaker 3: about a thousand acres of grassland in Coachella Valley. And 826 00:39:23,160 --> 00:39:25,840 Speaker 3: those who don't know, that's that's greater Palm Springs. So 827 00:39:26,000 --> 00:39:27,919 Speaker 3: think two to two and a half hours inland from 828 00:39:28,320 --> 00:39:33,400 Speaker 3: Los Angeles Desert. And every year in pre season for MLS, 829 00:39:33,520 --> 00:39:37,040 Speaker 3: we had all the cold weather teams in MLS calling 830 00:39:37,120 --> 00:39:39,359 Speaker 3: us because they want to come south to warm weather 831 00:39:39,560 --> 00:39:41,960 Speaker 3: to train for preseason. So we had this idea of 832 00:39:42,640 --> 00:39:45,279 Speaker 3: we had this land in Coachella at that time is 833 00:39:45,320 --> 00:39:49,759 Speaker 3: about seventy seventy five degrees. The grass is beautiful, but 834 00:39:49,840 --> 00:39:51,759 Speaker 3: we have all this this grassland and the grass is 835 00:39:52,360 --> 00:39:55,480 Speaker 3: typically for polo, so you think horses. Now it's polo 836 00:39:55,800 --> 00:39:59,719 Speaker 3: the sport. And once a year it's or twice a 837 00:39:59,800 --> 00:40:03,719 Speaker 3: year pending it's the site of the Coachella Music Valley 838 00:40:03,719 --> 00:40:05,880 Speaker 3: at art festival. So when I think at Coachella, I 839 00:40:05,920 --> 00:40:09,000 Speaker 3: think of like Beyonce and Taylor Swift and these big shows. 840 00:40:09,560 --> 00:40:12,280 Speaker 3: That's about of AG right where we had this idea 841 00:40:12,400 --> 00:40:15,480 Speaker 3: and why can't we build out an MLS pre season 842 00:40:15,920 --> 00:40:18,840 Speaker 3: in Coachella Valley and the first year we did it, 843 00:40:19,920 --> 00:40:22,640 Speaker 3: we didn't know what to expect, so we had five 844 00:40:22,800 --> 00:40:25,680 Speaker 3: MLS teams to show up and had a wonderful experience. 845 00:40:26,080 --> 00:40:28,160 Speaker 3: At that time, and this was the beginning of twenty 846 00:40:28,200 --> 00:40:31,000 Speaker 3: twenty two, there was COVID and so we didn't even 847 00:40:31,000 --> 00:40:32,960 Speaker 3: open up the fans, so it was restricted. It was 848 00:40:33,040 --> 00:40:36,359 Speaker 3: really just what can we make of this? But Wes 849 00:40:36,400 --> 00:40:37,759 Speaker 3: had a lot of success and that's some really good 850 00:40:37,800 --> 00:40:40,960 Speaker 3: feedbacks from the clubs were participated. So this past year 851 00:40:41,000 --> 00:40:43,040 Speaker 3: we were able to get the twelve or thirteen MLS 852 00:40:43,120 --> 00:40:45,719 Speaker 3: teams all flying into Coachella and for three weeks we 853 00:40:45,840 --> 00:40:50,640 Speaker 3: hosted a preseason where we did matches, they did trainings, 854 00:40:51,320 --> 00:40:54,160 Speaker 3: and we invited fans. So it was a ticket of event. 855 00:40:54,280 --> 00:40:57,440 Speaker 3: Fans came and they watched, and really it's kind of 856 00:40:58,160 --> 00:41:01,680 Speaker 3: a replic of what MLB has done over so many 857 00:41:01,760 --> 00:41:05,239 Speaker 3: years and found success in Florida and Arizona. Is we 858 00:41:05,360 --> 00:41:07,800 Speaker 3: needed something like that and to be able to organize 859 00:41:07,840 --> 00:41:10,480 Speaker 3: something like that, I think it meant a lot, not 860 00:41:10,680 --> 00:41:13,600 Speaker 3: just from an AG perspective, we're building a business out 861 00:41:13,600 --> 00:41:17,400 Speaker 3: there right from an MLS perspective and a competitive perspective. 862 00:41:17,719 --> 00:41:20,440 Speaker 3: Teams have the ability to kind of not worry about 863 00:41:20,719 --> 00:41:23,000 Speaker 3: what are we doing for preseason next year, because teams 864 00:41:23,000 --> 00:41:25,040 Speaker 3: would fly to LA they'd play a game against us, 865 00:41:25,120 --> 00:41:27,799 Speaker 3: they would fly to you know, maybe Texas and play 866 00:41:27,800 --> 00:41:30,640 Speaker 3: a couple games against Texas, and it became so it 867 00:41:30,719 --> 00:41:33,279 Speaker 3: became a jigsaw puzzle to figure out, how are we 868 00:41:33,360 --> 00:41:36,320 Speaker 3: piecing the other preseason. So now we go to the teams. 869 00:41:36,920 --> 00:41:40,360 Speaker 3: We open up to all MLS teams and we welcome 870 00:41:40,440 --> 00:41:43,760 Speaker 3: them in and we organize all the matches in the games. 871 00:41:44,080 --> 00:41:46,919 Speaker 3: So we will be rolling out the twenty twenty four 872 00:41:47,360 --> 00:41:50,040 Speaker 3: edition here shortly. We already have a full commitment from 873 00:41:50,080 --> 00:41:52,800 Speaker 3: teams and we're just going to continue to build upon it. 874 00:41:52,840 --> 00:41:56,040 Speaker 3: I think it's really special and unique and it gets 875 00:41:56,760 --> 00:42:01,040 Speaker 3: a different feel for MLS. So have fans traveling from 876 00:42:01,040 --> 00:42:03,320 Speaker 3: all over the country, and obviously we have quite a 877 00:42:03,320 --> 00:42:05,840 Speaker 3: few fans coming in from Los Angeles, and it's a 878 00:42:05,880 --> 00:42:08,480 Speaker 3: weekend event now, and it's a week long event where 879 00:42:08,480 --> 00:42:12,480 Speaker 3: they can enjoy what is a tourist destination in Palm Springs. 880 00:42:13,280 --> 00:42:16,080 Speaker 3: They can watch some soccer and I think the best 881 00:42:16,080 --> 00:42:18,080 Speaker 3: part about it too is the interaction that the fans 882 00:42:18,120 --> 00:42:22,120 Speaker 3: have with the players. So this past year, fans got 883 00:42:22,200 --> 00:42:24,719 Speaker 3: to be up close with all of our players. So 884 00:42:24,800 --> 00:42:28,960 Speaker 3: we have on our team Hyiir Fernandez Chizerto, who is 885 00:42:29,040 --> 00:42:32,560 Speaker 3: wildly popular in Los Angeles and in the soccer community, 886 00:42:32,640 --> 00:42:35,440 Speaker 3: and for fans to be able to get his autograph, 887 00:42:35,520 --> 00:42:37,439 Speaker 3: take his picture with them, give them a high five. 888 00:42:38,040 --> 00:42:41,879 Speaker 3: I think that goes well beyond anything else we could 889 00:42:41,920 --> 00:42:44,800 Speaker 3: do with a fan because it touches like their feelings 890 00:42:44,840 --> 00:42:46,719 Speaker 3: in a different way than just sitting in the fans 891 00:42:46,760 --> 00:42:47,480 Speaker 3: and watching a game. 892 00:42:47,680 --> 00:42:50,200 Speaker 5: Yeah, it's much more active, it's less passive. It's much 893 00:42:50,280 --> 00:42:54,120 Speaker 5: more on a smaller scale, which is in that intimacy 894 00:42:54,239 --> 00:42:56,360 Speaker 5: is what fans really want and look and look for. 895 00:42:56,560 --> 00:42:59,000 Speaker 5: So thank you for explaining all of that and building 896 00:42:59,040 --> 00:43:00,839 Speaker 5: out this preseason idea. I guess the next thing we'll 897 00:43:00,840 --> 00:43:03,000 Speaker 5: be waiting for is for the draft to be televised 898 00:43:03,040 --> 00:43:05,839 Speaker 5: as well, and for that to become a week long event. 899 00:43:07,080 --> 00:43:08,880 Speaker 5: Tom As we get ready to say goodbye to you, 900 00:43:08,960 --> 00:43:10,919 Speaker 5: I'm curious who you think will be the next big 901 00:43:11,080 --> 00:43:15,000 Speaker 5: international football star that the MLS can recruit to come 902 00:43:15,040 --> 00:43:15,800 Speaker 5: play in the US. 903 00:43:16,440 --> 00:43:17,480 Speaker 1: Who who would. 904 00:43:17,320 --> 00:43:17,840 Speaker 5: You want it to be? 905 00:43:18,800 --> 00:43:21,080 Speaker 3: Yeah, that's a good question. I would argue the next 906 00:43:21,440 --> 00:43:24,800 Speaker 3: US star. The next stars actually a player that's already 907 00:43:24,800 --> 00:43:27,440 Speaker 3: on the Galaxy. It's a it's a young center back 908 00:43:27,480 --> 00:43:29,359 Speaker 3: that we have named Jalen Neil who's starting to move 909 00:43:29,480 --> 00:43:32,920 Speaker 3: up the ranks on our team and is starting to 910 00:43:32,960 --> 00:43:35,719 Speaker 3: get really recognized on the US men's national team. And 911 00:43:35,800 --> 00:43:38,359 Speaker 3: I think going into the World Cup in twenty joining 912 00:43:38,360 --> 00:43:40,880 Speaker 3: and six, I'm excited to see what you can do 913 00:43:41,000 --> 00:43:44,480 Speaker 3: not only for the Galaxy but for our country in 914 00:43:44,520 --> 00:43:46,279 Speaker 3: the next few years. So I would argue jayallyn Neil 915 00:43:46,360 --> 00:43:48,000 Speaker 3: is one that we should we should keep an eye on. 916 00:43:48,280 --> 00:43:50,120 Speaker 2: Well, Tom, I thought you were going to say Dave 917 00:43:50,200 --> 00:43:54,600 Speaker 2: and Kimbra. Just for our audience and those who don't know, 918 00:43:54,760 --> 00:43:58,120 Speaker 2: David Kimbro made his professional Major League soccer debut at 919 00:43:58,239 --> 00:44:03,440 Speaker 2: thirteen years of age this year, if you can believe that, unbelievable. 920 00:44:03,000 --> 00:44:05,360 Speaker 1: Special thanks to Tom Braun for joining us. He is 921 00:44:05,400 --> 00:44:09,000 Speaker 1: the President of Business Operations and chief operating Officer for 922 00:44:09,080 --> 00:44:13,160 Speaker 1: the LA Galaxy. This is the Bloomberg Business of Sports show. 923 00:44:13,560 --> 00:44:15,960 Speaker 1: We are here each and every week at the same time, 924 00:44:16,200 --> 00:44:19,680 Speaker 1: plus online wherever you get your podcasts. I'm Michael Barb 925 00:44:19,760 --> 00:44:22,239 Speaker 1: and it's written right here on the script on X 926 00:44:22,640 --> 00:44:24,040 Speaker 1: at Dick Barspool. 927 00:44:23,719 --> 00:44:26,200 Speaker 5: And I'm on XT at Scarlettfilm. 928 00:44:25,560 --> 00:44:27,680 Speaker 2: And you can follow me on x d sas hour. 929 00:44:27,800 --> 00:44:29,600 Speaker 1: Thanks for joining us. Tune in again next week for 930 00:44:29,680 --> 00:44:32,480 Speaker 1: the latest on the stories moving big money in the 931 00:44:32,560 --> 00:44:35,880 Speaker 1: world of sports. You're listening to Bloomberg Business of Sports 932 00:44:35,960 --> 00:44:38,320 Speaker 1: Bloomberg Radio around the Burg.