1 00:00:02,960 --> 00:00:07,280 Speaker 1: Bloomberg Audio Studios, Podcasts, Radio News. 2 00:00:08,640 --> 00:00:11,240 Speaker 2: This is Bloomberg Business of Sports. 3 00:00:11,440 --> 00:00:15,280 Speaker 3: Sports is business, and whenever you are procuring child you 4 00:00:15,360 --> 00:00:16,759 Speaker 3: must start with the crime. 5 00:00:16,680 --> 00:00:19,840 Speaker 4: Cherating owners of this league and wanting our league to 6 00:00:19,880 --> 00:00:21,840 Speaker 4: be the best in the world. How do we make 7 00:00:21,840 --> 00:00:22,239 Speaker 4: it better? 8 00:00:22,320 --> 00:00:24,320 Speaker 5: The valuations are getting so high, at the list of 9 00:00:24,320 --> 00:00:26,680 Speaker 5: people who could purchase a team that was getting really short. 10 00:00:26,720 --> 00:00:29,319 Speaker 1: You have eight strategic investment areas when you look at. 11 00:00:29,200 --> 00:00:31,480 Speaker 6: The world of sports, and these already in two hundred 12 00:00:31,480 --> 00:00:32,800 Speaker 6: and ten countries around the world. 13 00:00:32,960 --> 00:00:36,120 Speaker 1: NFL is an amazing things for the sports betting industry. 14 00:00:36,240 --> 00:00:38,400 Speaker 3: We have the World's upcoming in twenty twenty six in 15 00:00:38,520 --> 00:00:39,320 Speaker 3: North America. 16 00:00:39,400 --> 00:00:40,960 Speaker 2: Hey, if I get a million dollars, We're going to 17 00:00:40,960 --> 00:00:42,160 Speaker 2: a school testing. 18 00:00:42,280 --> 00:00:42,760 Speaker 6: How be you there? 19 00:00:42,760 --> 00:00:46,640 Speaker 7: Bloomberg Business of Sports from Bloomberg Radio. 20 00:00:47,280 --> 00:00:50,080 Speaker 6: This is the Bloomberg Business of Sports show where we 21 00:00:50,120 --> 00:00:52,080 Speaker 6: explored the big money issues in the world of sports. 22 00:00:52,240 --> 00:00:55,080 Speaker 8: Michael Barr, I'm Scarlett Foo and I'm Memian sas hour 23 00:00:55,240 --> 00:00:55,920 Speaker 8: on the lineup. 24 00:00:55,920 --> 00:01:00,240 Speaker 6: Today. It is golf season, Babay. The air is warming up, 25 00:01:00,280 --> 00:01:03,400 Speaker 6: the sun is setting later, and the grass is getting 26 00:01:03,400 --> 00:01:06,280 Speaker 6: greener on this side. And we're going to talk with 27 00:01:06,440 --> 00:01:10,319 Speaker 6: Dan Murphy, the president and CEO of bridge Stone Golf, 28 00:01:10,560 --> 00:01:13,720 Speaker 6: on his company's partnership with Tiger Woods and the rold 29 00:01:13,720 --> 00:01:17,320 Speaker 6: Tiger has in his company's development of golf balls and clubs. 30 00:01:17,680 --> 00:01:21,120 Speaker 9: Plus, Bloomberg Originals Chief correspondent Jason Kelly stops by to 31 00:01:21,160 --> 00:01:25,000 Speaker 9: talk about his new Bloomberg Originals TV program and podcasts 32 00:01:25,000 --> 00:01:28,240 Speaker 9: with none other than a Rod The Baseball Legend. It's 33 00:01:28,280 --> 00:01:32,399 Speaker 9: a program that showcases conversations with sports champions and business 34 00:01:32,480 --> 00:01:36,440 Speaker 9: titans like Maria Sharapova and one Derek Jeter as they 35 00:01:36,480 --> 00:01:39,000 Speaker 9: reveal some of their investment philosophies. 36 00:01:39,360 --> 00:01:42,080 Speaker 6: That is straight ahead on the Bloomberg Business of Sports show. 37 00:01:42,120 --> 00:01:46,720 Speaker 6: But first, preparing for retirement is not easy, no kidd, 38 00:01:47,200 --> 00:01:51,080 Speaker 6: And for professional athletes, it's all about becoming a champion 39 00:01:51,160 --> 00:01:54,000 Speaker 6: with hopes that the millions they made along the way 40 00:01:54,360 --> 00:01:57,919 Speaker 6: is enough to help pay the bills. But nowadays athletes 41 00:01:58,080 --> 00:02:01,360 Speaker 6: are looking to cash in and maintain their brand supremacy 42 00:02:01,720 --> 00:02:05,760 Speaker 6: even after retirement. Lucky for them, there have never been 43 00:02:05,800 --> 00:02:09,640 Speaker 6: more ways for athletes to earn billions. Joining us now 44 00:02:09,680 --> 00:02:12,720 Speaker 6: to discuss how some of the most known athletes today 45 00:02:12,800 --> 00:02:17,160 Speaker 6: are working toward that coveted billion dollars goal. You know, 46 00:02:17,240 --> 00:02:22,440 Speaker 6: the man old friend of the show, Bloomberg News, Kim Bessen, Kim, 47 00:02:22,520 --> 00:02:25,000 Speaker 6: welcome sports again. Up. 48 00:02:25,040 --> 00:02:26,079 Speaker 2: How are we doing today? 49 00:02:26,200 --> 00:02:29,000 Speaker 6: Oh man, I'm now I'm thinking about retirement all over 50 00:02:29,120 --> 00:02:31,600 Speaker 6: again and realize, you know, it won't be until I'm 51 00:02:31,600 --> 00:02:35,080 Speaker 6: one hundred. But you know what, you don't have to 52 00:02:35,080 --> 00:02:37,160 Speaker 6: be and you wrote this, you don't have to be 53 00:02:37,320 --> 00:02:42,480 Speaker 6: the goat to hit the billionaire status as an athlete. 54 00:02:42,680 --> 00:02:43,840 Speaker 6: Can you expand more? 55 00:02:43,919 --> 00:02:44,079 Speaker 8: Yeah? 56 00:02:44,080 --> 00:02:48,000 Speaker 10: I think when you think about like the richest athletes 57 00:02:48,040 --> 00:02:50,679 Speaker 10: in the world, you the names that come up are 58 00:02:50,720 --> 00:02:54,600 Speaker 10: like Tiger Woods, Michael Jordan, Lebron James, like among the 59 00:02:54,639 --> 00:02:56,840 Speaker 10: best to ever do it in their sports every single time. 60 00:02:56,919 --> 00:02:57,079 Speaker 6: Right. 61 00:02:57,960 --> 00:03:01,880 Speaker 10: But now, for you don't have to be the best 62 00:03:01,880 --> 00:03:05,760 Speaker 10: in your sport to make a whole ton of money. 63 00:03:05,760 --> 00:03:09,160 Speaker 10: And that's because there's more routes, there's more opportunities, there's 64 00:03:09,280 --> 00:03:13,480 Speaker 10: more ways to get into business and make a bunch 65 00:03:13,520 --> 00:03:14,320 Speaker 10: of money for yourself. 66 00:03:14,360 --> 00:03:17,200 Speaker 6: So you're saying, I got a chance, you still, let's 67 00:03:17,200 --> 00:03:17,520 Speaker 6: do this. 68 00:03:18,120 --> 00:03:19,320 Speaker 2: It's never too late, all right. 69 00:03:19,320 --> 00:03:21,120 Speaker 9: So give us an example of someone who is not 70 00:03:21,360 --> 00:03:24,840 Speaker 9: the goat in his or her sport and yet through 71 00:03:24,919 --> 00:03:32,200 Speaker 9: savvy investments, through timely networking, and through well negotiated deals, 72 00:03:32,560 --> 00:03:35,520 Speaker 9: has done a pretty good job for himself. Yeah, and 73 00:03:35,600 --> 00:03:36,880 Speaker 9: it's him a lot of the times. 74 00:03:36,960 --> 00:03:37,560 Speaker 6: Yeah, it is. 75 00:03:37,600 --> 00:03:39,640 Speaker 10: It is him a lot of the times. I just 76 00:03:39,680 --> 00:03:43,320 Speaker 10: want to give you an example of someone who is 77 00:03:43,400 --> 00:03:48,160 Speaker 10: still young, and it's not even requiring him to step 78 00:03:48,320 --> 00:03:50,840 Speaker 10: off the court and make a ton of money with 79 00:03:51,000 --> 00:03:54,119 Speaker 10: businesses in the NBA. You can do this just by 80 00:03:54,440 --> 00:03:58,800 Speaker 10: signing max contracts. Right, Jalen Brown is not the best 81 00:03:58,800 --> 00:04:01,320 Speaker 10: player on his own team, and he's going to be 82 00:04:01,400 --> 00:04:05,760 Speaker 10: making nearly three hundred million dollars over the next several years. Right, 83 00:04:06,240 --> 00:04:10,080 Speaker 10: if you parse us out for the rookies, like the 84 00:04:10,120 --> 00:04:13,520 Speaker 10: youngest players in the league who are entering right now, Yes, 85 00:04:13,560 --> 00:04:17,200 Speaker 10: it looks like Victor Webbanyama is going to be absolutely incredible. 86 00:04:17,520 --> 00:04:22,000 Speaker 10: Paolo Bankearo just made his first All Star team. Brandon 87 00:04:22,040 --> 00:04:25,520 Speaker 10: Miller on the Hornets is starting to heat up over there. 88 00:04:25,960 --> 00:04:28,640 Speaker 10: These are the kinds of kids who just have to 89 00:04:28,720 --> 00:04:32,000 Speaker 10: keep signing max deals, And if they keep signing max deals, 90 00:04:32,000 --> 00:04:34,440 Speaker 10: if they pan out over the course of their career, 91 00:04:34,960 --> 00:04:37,159 Speaker 10: maybe you know, once in a while, making All NBA 92 00:04:37,360 --> 00:04:41,960 Speaker 10: Third Team be an All Star a couple times, and 93 00:04:42,000 --> 00:04:45,120 Speaker 10: they just keep signing Max deals, they will be billionaires 94 00:04:45,200 --> 00:04:46,080 Speaker 10: in their thirties. 95 00:04:46,400 --> 00:04:48,520 Speaker 8: Kim running through the numbers a little bit, because I've 96 00:04:48,560 --> 00:04:51,480 Speaker 8: read that deck about Victor webin Yama, the seven foot 97 00:04:51,520 --> 00:04:54,520 Speaker 8: four Spurs sensation, who is you know, if he keeps 98 00:04:54,560 --> 00:04:57,039 Speaker 8: signing MAX contracts, will earn you know, I think a 99 00:04:57,080 --> 00:04:59,479 Speaker 8: billion dollars or something by the time I'm well over that. 100 00:04:59,600 --> 00:05:02,080 Speaker 8: But you know, if you compare that to Michael Jordan 101 00:05:02,360 --> 00:05:04,280 Speaker 8: or you know, Tiger Woods or some of these people 102 00:05:04,279 --> 00:05:06,520 Speaker 8: who have these huge marketing deals and who made money. 103 00:05:06,560 --> 00:05:08,880 Speaker 8: I mean Michael Jordan's case. You know, he's an owner 104 00:05:08,880 --> 00:05:12,200 Speaker 8: of the Charlotte Hornets. You know, is it possible for 105 00:05:12,440 --> 00:05:15,520 Speaker 8: somebody like a webin Yama to overtake career earning from 106 00:05:15,560 --> 00:05:18,359 Speaker 8: someone like Michael Jordan or must he do something himself 107 00:05:18,640 --> 00:05:20,039 Speaker 8: off the court in order to get there. 108 00:05:20,600 --> 00:05:23,760 Speaker 10: Michael, I think, is the specialist of special cases, right 109 00:05:24,080 --> 00:05:27,920 Speaker 10: his the Jordan brand is just so huge and he 110 00:05:28,080 --> 00:05:30,840 Speaker 10: signed what the you know, the first royalty deal in 111 00:05:31,400 --> 00:05:34,080 Speaker 10: signature shoe history, Once upon a time? 112 00:05:34,560 --> 00:05:35,440 Speaker 6: How long ago is that? 113 00:05:35,520 --> 00:05:36,320 Speaker 2: Forty years ago? 114 00:05:36,400 --> 00:05:36,880 Speaker 6: Oh? Man? 115 00:05:37,240 --> 00:05:40,680 Speaker 10: So he's a special case here. But team ownership is 116 00:05:40,720 --> 00:05:44,440 Speaker 10: certainly like a path to wealth now, and you're seeing 117 00:05:44,480 --> 00:05:48,919 Speaker 10: these players put money into and become minority owners in 118 00:05:49,520 --> 00:05:52,800 Speaker 10: the other leagues that they're not currently playing in their 119 00:05:52,880 --> 00:05:54,760 Speaker 10: in their home town. So like Miles Garrett on the 120 00:05:54,800 --> 00:05:59,120 Speaker 10: Cleveland Browns has a stake in the Cavaliers basketball, and. 121 00:05:59,160 --> 00:06:01,200 Speaker 2: We got the Jannis on the Bucks. 122 00:06:01,600 --> 00:06:04,279 Speaker 10: He owns a part of the Brewers, and then Marshawn 123 00:06:04,320 --> 00:06:07,160 Speaker 10: Lynch is in the Seattle Kraken the hockey team. Like 124 00:06:07,480 --> 00:06:11,400 Speaker 10: these opportunities are they exist for these players. And again, 125 00:06:11,440 --> 00:06:13,320 Speaker 10: they don't have to be the very best in the 126 00:06:13,360 --> 00:06:14,000 Speaker 10: game to do it. 127 00:06:14,160 --> 00:06:16,120 Speaker 6: You don't have to be And you wrote about this 128 00:06:16,200 --> 00:06:18,080 Speaker 6: and I saw it. I'm like, oh man, you don't 129 00:06:18,120 --> 00:06:19,960 Speaker 6: have to be in college. You don't have to be 130 00:06:20,000 --> 00:06:22,520 Speaker 6: in high school, you don't have to be in middle school. 131 00:06:22,839 --> 00:06:26,479 Speaker 6: There was a nine year old who signed in Snoop 132 00:06:26,560 --> 00:06:32,760 Speaker 6: Dogg's youth football league and signed for six figures. He's nine. 133 00:06:32,880 --> 00:06:36,240 Speaker 6: Oh yeah, I am depressed. Now just listen, kid, I'm 134 00:06:36,320 --> 00:06:38,360 Speaker 6: happy for you. Yeah, I can say kid because I'm 135 00:06:38,400 --> 00:06:42,240 Speaker 6: oldest dirt kid. I'm happy he's nine. He is, but 136 00:06:42,520 --> 00:06:44,880 Speaker 6: this is it's amazing to me. 137 00:06:45,040 --> 00:06:45,960 Speaker 2: Kim yeah. 138 00:06:46,200 --> 00:06:48,960 Speaker 10: I mean, the the NCAA rule really opens up a 139 00:06:48,960 --> 00:06:52,040 Speaker 10: lot of a lot of things for kids now right, 140 00:06:52,040 --> 00:06:54,400 Speaker 10: You're not going to risk any kind of eligibility going forward. 141 00:06:55,240 --> 00:06:58,279 Speaker 2: It's like it is fascinating. 142 00:06:58,440 --> 00:07:00,640 Speaker 10: I think when we saw at the very it was 143 00:07:00,800 --> 00:07:04,760 Speaker 10: the college kids actually signing these deal student athletes who 144 00:07:04,760 --> 00:07:07,400 Speaker 10: have garnered some sort of social following and so on 145 00:07:07,600 --> 00:07:10,400 Speaker 10: at the very very start of the rule change at 146 00:07:10,400 --> 00:07:13,280 Speaker 10: the NCAA had, but it was kind of natural that 147 00:07:13,320 --> 00:07:16,840 Speaker 10: they would go younger. You saw high school kids getting signed, 148 00:07:16,880 --> 00:07:20,920 Speaker 10: and now it's we're getting further down there, nine years old. 149 00:07:21,320 --> 00:07:24,600 Speaker 6: You know, it's okay at age time. Here I go again. 150 00:07:24,760 --> 00:07:26,960 Speaker 6: I remember when you were nine years old, the only 151 00:07:27,000 --> 00:07:28,800 Speaker 6: way you could really make some money was to go 152 00:07:29,040 --> 00:07:32,880 Speaker 6: on the game show, the kids version of the Hollywood Squares. 153 00:07:33,000 --> 00:07:35,440 Speaker 6: They didn't even pay you in regular money because they 154 00:07:35,480 --> 00:07:38,400 Speaker 6: had the rule where you got savings bonds, which was 155 00:07:38,480 --> 00:07:40,600 Speaker 6: half of what dang. 156 00:07:40,360 --> 00:07:43,120 Speaker 1: Man, he's outraged. He is properly outraged. 157 00:07:44,000 --> 00:07:47,120 Speaker 9: Let's go from a nine year old tackle football player 158 00:07:47,280 --> 00:07:50,960 Speaker 9: in Snoop's youth football league to Steph Curry, the goat 159 00:07:51,120 --> 00:07:54,680 Speaker 9: for the Golden State Warriors, and you know, three point 160 00:07:54,840 --> 00:07:58,000 Speaker 9: shot man extraordinary. You wrote a story about him and 161 00:07:58,040 --> 00:08:01,200 Speaker 9: how he has He's done well in terms of his 162 00:08:01,320 --> 00:08:04,280 Speaker 9: sneaker sponsorship under Armoor. He put them on the map 163 00:08:04,320 --> 00:08:07,360 Speaker 9: when it comes to sneakers, but not so much in 164 00:08:07,480 --> 00:08:11,400 Speaker 9: terms of really winning over big sneaker fans, the sneaker 165 00:08:11,440 --> 00:08:13,480 Speaker 9: heads out there. What's the difference here and why is 166 00:08:13,520 --> 00:08:14,520 Speaker 9: it important to him? 167 00:08:14,720 --> 00:08:14,960 Speaker 3: Yeah? 168 00:08:14,960 --> 00:08:18,200 Speaker 10: I mean Stephen told me I met up with him 169 00:08:18,240 --> 00:08:24,080 Speaker 10: at All Star weekend in Indianapolis, as you do, Kim, 170 00:08:21,760 --> 00:08:28,520 Speaker 10: and he said he's planning to retire in four or 171 00:08:28,560 --> 00:08:32,400 Speaker 10: five years, So the clock is running low here. It 172 00:08:32,480 --> 00:08:36,480 Speaker 10: seems like he wants to leave the game while still 173 00:08:36,520 --> 00:08:39,240 Speaker 10: playing at a high level. I don't think we're gonna 174 00:08:39,240 --> 00:08:42,480 Speaker 10: see Steph Curry standing in the corner at forty three 175 00:08:42,880 --> 00:08:44,880 Speaker 10: just knocking down a couple threes a game. I think 176 00:08:44,920 --> 00:08:48,400 Speaker 10: he wants to be a superstar until the day he 177 00:08:48,760 --> 00:08:52,319 Speaker 10: steps away. So if he's gonna leave fairly soon, that 178 00:08:52,760 --> 00:08:55,800 Speaker 10: would put him at about forty, which is when Michael 179 00:08:55,840 --> 00:08:58,679 Speaker 10: Jordan retired Lebron. Seems like he's gonna go back if 180 00:08:58,679 --> 00:09:00,520 Speaker 10: he keeps playing like this still nine. 181 00:09:00,600 --> 00:09:01,520 Speaker 2: I think he's gonna give you going. 182 00:09:02,480 --> 00:09:05,800 Speaker 10: But there's limited time left for for Stephan Curry to 183 00:09:06,160 --> 00:09:08,640 Speaker 10: have that kind of influence on the court, being on 184 00:09:08,760 --> 00:09:11,720 Speaker 10: TV eighty two times a year and then playing in 185 00:09:11,720 --> 00:09:13,319 Speaker 10: the playoffs and all the hype around that and the 186 00:09:13,360 --> 00:09:16,320 Speaker 10: All Star Game and everything. So whatever he's doing after 187 00:09:16,840 --> 00:09:19,880 Speaker 10: his basketball career, it won't be quite the same. So 188 00:09:20,320 --> 00:09:23,720 Speaker 10: what he wants to do is really develop off the 189 00:09:23,840 --> 00:09:28,240 Speaker 10: court shoes, shoes that are in sneaker culture, shoes that that. 190 00:09:28,000 --> 00:09:31,840 Speaker 2: That people are are, you know, lining up around the block. 191 00:09:31,600 --> 00:09:34,400 Speaker 10: For like you see with with some other with some 192 00:09:34,440 --> 00:09:39,880 Speaker 10: other brand, Jordan's with Jordan's absolutely, And yeah, he said explicitly, 193 00:09:40,240 --> 00:09:46,040 Speaker 10: the Jordan brand is the pinnacle of what an athlete 194 00:09:46,040 --> 00:09:50,040 Speaker 10: can do with their platform, and he wants to make 195 00:09:50,080 --> 00:09:52,520 Speaker 10: his own version of that and wants that to be 196 00:09:52,600 --> 00:09:53,400 Speaker 10: part of his legacy. 197 00:09:53,400 --> 00:09:55,400 Speaker 2: He also said, like, what's my legacy going to be? 198 00:09:55,679 --> 00:09:57,720 Speaker 1: And I'm like, Steph, Man, he's wondering about that. 199 00:09:57,800 --> 00:10:02,920 Speaker 10: Yeah, you're the best shooter ever, Like there's no four championships. 200 00:10:02,360 --> 00:10:03,040 Speaker 2: Two MVPs. 201 00:10:03,120 --> 00:10:04,199 Speaker 1: Well, he really doesn't see that. 202 00:10:04,400 --> 00:10:07,199 Speaker 2: I think, I mean, he shouldn't be worried. He shouldn't 203 00:10:07,240 --> 00:10:08,080 Speaker 2: be worried about this. 204 00:10:08,240 --> 00:10:08,440 Speaker 3: Man. 205 00:10:08,960 --> 00:10:10,520 Speaker 8: Can I ask you a quick question I mean, I'm 206 00:10:10,559 --> 00:10:13,480 Speaker 8: looking at under Armour shares here at nine dollars down, 207 00:10:13,679 --> 00:10:15,839 Speaker 8: you know, roughly a third of what they were in 208 00:10:15,920 --> 00:10:18,520 Speaker 8: late twenty twenty one. You know, just how a creative 209 00:10:19,000 --> 00:10:23,760 Speaker 8: could steph Curry b to the share price to under 210 00:10:23,880 --> 00:10:27,040 Speaker 8: Armour and for that matter, in the environment we're coming 211 00:10:27,080 --> 00:10:30,000 Speaker 8: out of. I mean, look at what just happened with Adidas, 212 00:10:30,080 --> 00:10:32,680 Speaker 8: with Nike. I mean, you know, what are the chances 213 00:10:32,679 --> 00:10:35,720 Speaker 8: for success and how's that going to kind of translate 214 00:10:35,760 --> 00:10:36,600 Speaker 8: through into the share price. 215 00:10:36,720 --> 00:10:39,600 Speaker 10: Under Armour is going through a major transformation right now. 216 00:10:39,640 --> 00:10:42,360 Speaker 10: So they brought in a new CEO last year, Stephanie 217 00:10:42,440 --> 00:10:47,960 Speaker 10: Lennartz from Marriott International, and she has has started on 218 00:10:48,080 --> 00:10:52,000 Speaker 10: this three year turnaround plan for under Armour and the 219 00:10:52,040 --> 00:10:56,400 Speaker 10: whole athletic wear industry over the past year has had trouble, 220 00:10:56,480 --> 00:10:59,520 Speaker 10: right so when the pandemic hit, it was like stores closed, 221 00:10:59,640 --> 00:11:02,520 Speaker 10: just does in twenty twenty twenty one. We don't have 222 00:11:02,640 --> 00:11:06,760 Speaker 10: enough inventory because it was hard to run our supply chains. 223 00:11:06,800 --> 00:11:08,880 Speaker 10: At the time twenty twenty two and twenty three, they 224 00:11:08,880 --> 00:11:11,080 Speaker 10: had too much inventory because they ordered too much stuff. 225 00:11:11,240 --> 00:11:14,040 Speaker 10: And now we're finally getting to the end of that. 226 00:11:14,160 --> 00:11:18,240 Speaker 10: So we're seeing a reset with brands, with brands like 227 00:11:18,320 --> 00:11:22,400 Speaker 10: under Armour. So this brand under Armour, she is prioritizing 228 00:11:23,120 --> 00:11:26,920 Speaker 10: a couple things here, so more women's wear, more footwear, 229 00:11:27,400 --> 00:11:30,240 Speaker 10: and then more what they call they're calling sports style, 230 00:11:30,280 --> 00:11:33,960 Speaker 10: which just means, you know, casual clothes that one would 231 00:11:34,000 --> 00:11:38,520 Speaker 10: wear not in the gym. So those are the three things. 232 00:11:38,559 --> 00:11:41,920 Speaker 10: And Curry brand is what gave them permission to enter 233 00:11:42,000 --> 00:11:45,640 Speaker 10: footwear to begin with back in twenty thirteen, right, that 234 00:11:45,720 --> 00:11:48,719 Speaker 10: really solidified their place to give the permission to play 235 00:11:48,720 --> 00:11:50,640 Speaker 10: in basketball, which is which is the most important thing. 236 00:11:50,679 --> 00:11:54,040 Speaker 10: Basketball and running are just so crucial. Curry is their star. 237 00:11:54,120 --> 00:11:57,199 Speaker 10: He's for sure, they're top star, and they're going to 238 00:11:57,240 --> 00:11:58,320 Speaker 10: try to build this around him. 239 00:11:58,440 --> 00:12:00,720 Speaker 6: You mentioned about Nike, by the way, I wonder if 240 00:12:00,800 --> 00:12:04,800 Speaker 6: Nike screwed up because they had Curry in a round 241 00:12:04,840 --> 00:12:08,400 Speaker 6: right when when it started, and then something happened, and then, 242 00:12:08,440 --> 00:12:11,439 Speaker 6: like you said, Kim twenty thirteen, then he signs with. 243 00:12:11,440 --> 00:12:14,640 Speaker 10: Underham There's a there's a fascinating story that ESPN got 244 00:12:14,679 --> 00:12:18,480 Speaker 10: into a few years ago, that the saga of Stephen 245 00:12:18,520 --> 00:12:22,240 Speaker 10: Curry leaving Nike for under Armour. 246 00:12:22,840 --> 00:12:24,000 Speaker 1: This is the sequel, by the way. 247 00:12:24,320 --> 00:12:26,679 Speaker 8: Name Yeah, they pick Durant's name on the presentation, right, 248 00:12:26,720 --> 00:12:28,000 Speaker 8: they put Duran's name on the. 249 00:12:28,600 --> 00:12:30,480 Speaker 9: This this needs to be made into a movie, kind 250 00:12:30,480 --> 00:12:32,640 Speaker 9: of like how Matt Damon or I should say Ben 251 00:12:32,640 --> 00:12:33,880 Speaker 9: Affleck made air. 252 00:12:34,160 --> 00:12:37,320 Speaker 2: And they kept calling him like Stephen like no, yeah, 253 00:12:37,520 --> 00:12:38,280 Speaker 2: I remember that. 254 00:12:38,280 --> 00:12:38,880 Speaker 1: That's not good. 255 00:12:39,640 --> 00:12:40,400 Speaker 2: Yeah. 256 00:12:40,640 --> 00:12:43,720 Speaker 6: Old friend of the show, Kim Bessen, thank you, my man. 257 00:12:44,160 --> 00:12:45,319 Speaker 6: We really do appreciate it. 258 00:12:45,360 --> 00:12:45,480 Speaker 3: Man. 259 00:12:45,520 --> 00:12:46,880 Speaker 6: You always drop some knowledge on this. 260 00:12:47,040 --> 00:12:47,199 Speaker 3: Man. 261 00:12:47,440 --> 00:12:49,680 Speaker 6: I love hearing you. Appreciate you all. Up next on 262 00:12:49,720 --> 00:12:52,000 Speaker 6: the show, we speak with our friend Jason Kelly on 263 00:12:52,080 --> 00:12:55,320 Speaker 6: his newest Bloomberg Originals program that he co hosts with 264 00:12:55,440 --> 00:13:02,400 Speaker 6: former baseball player and New York Yankees icon Rodriguez. You're 265 00:13:02,400 --> 00:13:05,680 Speaker 6: listening to the Bloomberg Business of Sports from Bloomberg Radio 266 00:13:05,760 --> 00:13:11,760 Speaker 6: around the world. 267 00:13:11,800 --> 00:13:17,520 Speaker 7: This is Bloomberg Business of Sports from Bloomberg Radio. This 268 00:13:17,720 --> 00:13:20,120 Speaker 7: is the Bloomberg Business of Sports show. But we explored 269 00:13:20,120 --> 00:13:22,240 Speaker 7: the big money issues the world of sports. I'm Michael 270 00:13:22,280 --> 00:13:27,320 Speaker 7: Varre alongside Carlott Fu and Damian Sasauur. When sports, business 271 00:13:27,320 --> 00:13:30,680 Speaker 7: and culture collide, there's often a deal to be made. 272 00:13:31,080 --> 00:13:35,960 Speaker 7: Alex Rodriguez and Bloomberg correspondent Jason Kelly get the inside 273 00:13:36,000 --> 00:13:40,920 Speaker 7: track from corporate titans, sports champions, and game changing entrepreneurs 274 00:13:41,120 --> 00:13:45,240 Speaker 7: on investing, strategy, reinvention and the ones that got away. 275 00:13:45,760 --> 00:13:49,080 Speaker 7: The Deal with Alex Rodriguez and Jason Kelly is a 276 00:13:49,120 --> 00:13:55,840 Speaker 7: Bloomberg Podcasts and Bloomberg original series that's passionate, relaxed, insightful, 277 00:13:56,000 --> 00:13:59,480 Speaker 7: and inspirational. If you think you know these icons, prepare 278 00:13:59,520 --> 00:14:03,160 Speaker 7: to be Here is a tease of the show airing 279 00:14:03,280 --> 00:14:05,960 Speaker 7: now featuring tennis icon Maria Showerpova. 280 00:14:06,160 --> 00:14:08,200 Speaker 5: There's going to be viewers that have watched this that 281 00:14:08,240 --> 00:14:11,440 Speaker 5: are founders that have a business that their dream would 282 00:14:11,440 --> 00:14:13,680 Speaker 5: be for Maria to invest in their business. Can you 283 00:14:13,720 --> 00:14:15,840 Speaker 5: tell us a little bit about how you think about 284 00:14:15,920 --> 00:14:19,800 Speaker 5: businesses which sectors kind of broadly check sizes. How do 285 00:14:19,840 --> 00:14:22,160 Speaker 5: you think about being a value added investor. 286 00:14:22,440 --> 00:14:25,000 Speaker 4: One of my first investments, actually the first investment was 287 00:14:25,040 --> 00:14:28,360 Speaker 4: into a sunscreen brand called Supergoup. I was a user 288 00:14:28,400 --> 00:14:31,520 Speaker 4: myself founded a Sephora market. I think that was their 289 00:14:31,520 --> 00:14:34,240 Speaker 4: only distribution at the time. This was twelve years ago. 290 00:14:34,560 --> 00:14:37,720 Speaker 4: I knocked on the door of the founder and I said, 291 00:14:37,800 --> 00:14:40,120 Speaker 4: I love your product. It's the only one I can 292 00:14:40,160 --> 00:14:42,160 Speaker 4: wear while I play doesn't run in my eyes. It 293 00:14:42,160 --> 00:14:44,720 Speaker 4: doesn't burn my eyes or sting them. Can I please 294 00:14:44,760 --> 00:14:46,640 Speaker 4: help you out. I don't know what stage you're at, 295 00:14:46,680 --> 00:14:48,440 Speaker 4: I don't know how young or old you are, but 296 00:14:48,640 --> 00:14:51,200 Speaker 4: I love what you're doing and from what I've read, 297 00:14:51,240 --> 00:14:54,080 Speaker 4: I love your mission. That was it, and two years 298 00:14:54,120 --> 00:14:56,360 Speaker 4: ago they sold seventy five percent of their steak for 299 00:14:56,800 --> 00:14:59,160 Speaker 4: close to a billion dollars. It was the first time 300 00:14:59,160 --> 00:15:01,720 Speaker 4: where I didn't take that paycheck at the beginning, and 301 00:15:01,760 --> 00:15:05,240 Speaker 4: I said, let me invest, let me give you my time, 302 00:15:05,360 --> 00:15:08,840 Speaker 4: my platform, my voice, and help share this message about 303 00:15:08,840 --> 00:15:11,760 Speaker 4: preventing skin cancer. And that was a successful example, and 304 00:15:11,800 --> 00:15:15,640 Speaker 4: there's been several others not so. But the point is 305 00:15:15,640 --> 00:15:19,240 Speaker 4: is that it came from loving the product. It came 306 00:15:19,320 --> 00:15:22,920 Speaker 4: from the mission that the founder had that I resonated with, 307 00:15:23,160 --> 00:15:25,200 Speaker 4: and the fact that I could help it. Like I 308 00:15:25,280 --> 00:15:28,640 Speaker 4: was realistic that I had the right platform and that 309 00:15:28,720 --> 00:15:31,760 Speaker 4: I had the right usership in order to help them grow. 310 00:15:32,120 --> 00:15:34,440 Speaker 4: So I think all that was it was a good 311 00:15:34,440 --> 00:15:38,200 Speaker 4: foundation in my investment story. And not to say that 312 00:15:38,280 --> 00:15:40,680 Speaker 4: there's something that I may not be familiar with or 313 00:15:40,720 --> 00:15:43,000 Speaker 4: that I'm taking a chance on. I still should take 314 00:15:43,000 --> 00:15:45,440 Speaker 4: the call. I still should spend time with the founders, 315 00:15:45,440 --> 00:15:47,960 Speaker 4: But ultimately I want to have a good feel of 316 00:15:47,960 --> 00:15:50,120 Speaker 4: what this is, right. I want to spend time. I 317 00:15:50,120 --> 00:15:52,760 Speaker 4: want to have dinner with these people, right. So I 318 00:15:52,800 --> 00:15:55,440 Speaker 4: want to believe in people that know how to lose 319 00:15:55,480 --> 00:15:58,000 Speaker 4: and how that will come up and find ways to win. 320 00:15:58,280 --> 00:16:01,200 Speaker 6: So joining us now to give us some more inside 321 00:16:01,280 --> 00:16:04,120 Speaker 6: his co host of the show and friend of ours, 322 00:16:04,480 --> 00:16:08,160 Speaker 6: Jason Kelly. Jason, your new show is called The Deal. 323 00:16:08,400 --> 00:16:09,440 Speaker 6: Tell us about it. 324 00:16:09,440 --> 00:16:12,200 Speaker 11: It's all happening. Yeah, it's been in the worst for 325 00:16:12,240 --> 00:16:13,920 Speaker 11: a while. This is a show that Alex and I 326 00:16:14,000 --> 00:16:17,680 Speaker 11: conceived a little more than a year ago, and you know, 327 00:16:17,760 --> 00:16:18,920 Speaker 11: the concept. 328 00:16:18,520 --> 00:16:19,520 Speaker 2: Was sort of straightforward. 329 00:16:19,560 --> 00:16:21,920 Speaker 11: At One of the stories that I've told that I 330 00:16:21,920 --> 00:16:25,400 Speaker 11: think you guys will appreciate is we had gotten to 331 00:16:25,400 --> 00:16:27,760 Speaker 11: know each other over the course of me working on 332 00:16:27,800 --> 00:16:29,920 Speaker 11: a documentary about him for a series we did called 333 00:16:29,920 --> 00:16:33,240 Speaker 11: Athlete Empire and Bloomberg Originals, And we were having lunch 334 00:16:33,320 --> 00:16:35,960 Speaker 11: and talking about wanting to do something together, and we 335 00:16:36,000 --> 00:16:39,240 Speaker 11: started talking about this idea of the podcast, and we 336 00:16:39,520 --> 00:16:43,200 Speaker 11: kind of wandered around in conversationally and we were talking 337 00:16:43,200 --> 00:16:46,000 Speaker 11: about NBA ownership, which obviously he's a part of. 338 00:16:46,080 --> 00:16:47,320 Speaker 2: Now we were talking about. 339 00:16:47,200 --> 00:16:51,480 Speaker 11: Valuations, talking about various things, and at one point, as 340 00:16:51,520 --> 00:16:53,800 Speaker 11: we started talking about the podcast again, he said, what 341 00:16:53,840 --> 00:16:56,760 Speaker 11: would it be? And I basically said, well, this this 342 00:16:56,800 --> 00:16:58,840 Speaker 11: is the show. Like this is the show, like Seinfeld, 343 00:16:58,880 --> 00:17:03,160 Speaker 11: this is the show. And the concept is there is 344 00:17:03,240 --> 00:17:05,840 Speaker 11: this collision as you guys are living every week of 345 00:17:06,160 --> 00:17:10,720 Speaker 11: call it business, sports, culture, technology, politics, all of it, 346 00:17:10,760 --> 00:17:14,840 Speaker 11: and there are some fascinating people doing deals at the 347 00:17:14,880 --> 00:17:16,840 Speaker 11: core of it. And so that's what we set out 348 00:17:16,880 --> 00:17:19,520 Speaker 11: to do. And we went and found some I think 349 00:17:19,720 --> 00:17:21,640 Speaker 11: super interesting people to talk to, and. 350 00:17:21,560 --> 00:17:25,199 Speaker 9: You talked to Maria Sharapova among others. How many of 351 00:17:25,240 --> 00:17:28,480 Speaker 9: the folks that you talked to are people that alex 352 00:17:28,560 --> 00:17:31,080 Speaker 9: Ardriguez has done deals with because he's out there. 353 00:17:31,320 --> 00:17:33,199 Speaker 11: He is out there, and it's a great point. I mean, 354 00:17:33,280 --> 00:17:35,439 Speaker 11: he's out there quite a bit. And it's funny you 355 00:17:35,560 --> 00:17:39,240 Speaker 11: talk about Maria. One of the funniest moments of the episode, 356 00:17:39,800 --> 00:17:41,360 Speaker 11: she actually gives him a little bit of a hard 357 00:17:41,359 --> 00:17:45,399 Speaker 11: time about like not calling her for deals and because 358 00:17:45,440 --> 00:17:48,440 Speaker 11: they have looked at stuff together. I mean, as you 359 00:17:48,480 --> 00:17:50,919 Speaker 11: guys well know, because a lot of these folks have 360 00:17:50,960 --> 00:17:54,960 Speaker 11: been on this show. The circle as it were, of 361 00:17:56,000 --> 00:18:00,440 Speaker 11: really top tier athletes who are super serious about making investments. 362 00:18:00,520 --> 00:18:04,639 Speaker 11: Is actually a relatively small club, and they they certainly bounce, 363 00:18:05,280 --> 00:18:07,680 Speaker 11: bounce off of each other and run into each other. 364 00:18:07,960 --> 00:18:10,000 Speaker 11: So there are a few people that that Alex has 365 00:18:10,040 --> 00:18:13,119 Speaker 11: doesn't work with. I mean, he worked very closely with 366 00:18:13,520 --> 00:18:17,960 Speaker 11: Derek jeeter Is, who's a guest on college show up Coming. 367 00:18:18,000 --> 00:18:20,959 Speaker 11: They were they were colleagues, and you know, we joked 368 00:18:20,960 --> 00:18:22,879 Speaker 11: in in that episode. 369 00:18:23,040 --> 00:18:25,200 Speaker 2: I mean I sort of half joked that. 370 00:18:25,680 --> 00:18:27,800 Speaker 11: You know, one of the most important deals you could 371 00:18:27,880 --> 00:18:31,240 Speaker 11: argue that happened in New York Yankees history was the 372 00:18:31,280 --> 00:18:33,439 Speaker 11: deal for Alex to move to third base so that 373 00:18:33,560 --> 00:18:36,320 Speaker 11: he could play next to Jeter. Uh and they won 374 00:18:36,359 --> 00:18:39,800 Speaker 11: a World Series and obviously a complicated relationship, and we 375 00:18:39,920 --> 00:18:41,120 Speaker 11: dig into that a lot in the show. 376 00:18:41,200 --> 00:18:42,960 Speaker 8: I can't wait, well, Jason, I mean, you went right there, 377 00:18:42,960 --> 00:18:44,520 Speaker 8: so I'm gonna have to. I'm gonna have to, you know, 378 00:18:44,560 --> 00:18:47,480 Speaker 8: trump that. I mean, think about the contract that Derek 379 00:18:47,560 --> 00:18:49,920 Speaker 8: Jeter signed with the New York Yankees and the business 380 00:18:49,920 --> 00:18:53,200 Speaker 8: side of that and what Alex rodriguez Is negotiations did 381 00:18:53,240 --> 00:18:54,560 Speaker 8: to pad. 382 00:18:54,400 --> 00:18:55,040 Speaker 6: That for him. 383 00:18:55,080 --> 00:18:57,040 Speaker 8: I wonder if you guys got into that. But story 384 00:18:57,080 --> 00:18:59,200 Speaker 8: for another day. Talk to us a little bit about, 385 00:18:59,400 --> 00:19:01,159 Speaker 8: you know, some of the other guests you hope to 386 00:19:01,160 --> 00:19:03,040 Speaker 8: have on the show going forward. I mean, you know, 387 00:19:03,200 --> 00:19:07,640 Speaker 8: Alex runs in these crazy circles that expand beyond sports, 388 00:19:07,680 --> 00:19:11,520 Speaker 8: into media, into finance. You know, where do you find 389 00:19:11,600 --> 00:19:12,920 Speaker 8: Alex to be most comfortable? 390 00:19:13,600 --> 00:19:16,800 Speaker 11: You know, it's a really interesting question, Damian. You know, 391 00:19:17,119 --> 00:19:21,399 Speaker 11: I found him to be comfortable really across the board. 392 00:19:21,720 --> 00:19:25,840 Speaker 11: You know, this is a guy who really started thinking 393 00:19:25,880 --> 00:19:30,159 Speaker 11: about business off the field, almost from the moment he 394 00:19:30,200 --> 00:19:32,600 Speaker 11: became a professional athlete, which he did coming out of 395 00:19:32,680 --> 00:19:35,199 Speaker 11: high school, as you guys know, you know, drafted but 396 00:19:35,400 --> 00:19:38,360 Speaker 11: number one by the Mariners. And you know, he bought 397 00:19:38,440 --> 00:19:44,119 Speaker 11: his first multi family real estate property in Miami essentially 398 00:19:44,160 --> 00:19:46,680 Speaker 11: with his first check, and it's sort of built from there. 399 00:19:47,240 --> 00:19:51,399 Speaker 11: And he is he's a total sponge and really a student. 400 00:19:51,440 --> 00:19:55,240 Speaker 11: And he talks about you know, being a young athlete 401 00:19:55,400 --> 00:19:57,639 Speaker 11: and being on the road and you know, going in 402 00:19:57,720 --> 00:20:01,520 Speaker 11: to see Jerry Reinsdorf and going in in obviously to 403 00:20:01,560 --> 00:20:04,880 Speaker 11: see you know, George Steinbrenner. Once he came to the Yankees, 404 00:20:05,119 --> 00:20:07,320 Speaker 11: like literally like you know, padding into the office in 405 00:20:07,359 --> 00:20:10,399 Speaker 11: his cleats and just sitting and listening to these guys, 406 00:20:10,440 --> 00:20:14,280 Speaker 11: and so his his rolodex is unbelievable. There's a there's 407 00:20:14,280 --> 00:20:17,680 Speaker 11: a very funny moment also in the Maria Sharpova episode 408 00:20:17,720 --> 00:20:21,600 Speaker 11: where she notes these shoes that he's wearing, and he like, 409 00:20:21,720 --> 00:20:24,120 Speaker 11: can't help him. He can't help it flex a little 410 00:20:24,119 --> 00:20:27,520 Speaker 11: bit because they were a gift from Bob Kraft. They 411 00:20:27,520 --> 00:20:33,600 Speaker 11: are like signature custom posts super Bowl Nikes that he 412 00:20:33,720 --> 00:20:35,639 Speaker 11: was wearing, and of course Maria teased him about that. 413 00:20:35,800 --> 00:20:38,800 Speaker 9: So what what were you most surprised by in your 414 00:20:38,920 --> 00:20:41,359 Speaker 9: frequent conversations with a Rod? 415 00:20:41,400 --> 00:20:43,040 Speaker 1: And I'm sorry, do you don't call him Arod? 416 00:20:43,040 --> 00:20:43,240 Speaker 3: Do you? 417 00:20:43,280 --> 00:20:44,880 Speaker 1: I wouldn't be able to stop myself. 418 00:20:45,720 --> 00:20:47,159 Speaker 2: No, I call him Alex. 419 00:20:48,320 --> 00:20:51,639 Speaker 11: I mean, but there is this interesting thing even on 420 00:20:51,680 --> 00:20:55,439 Speaker 11: that point, Scar which is almost think of him in 421 00:20:55,520 --> 00:20:59,480 Speaker 11: these two halves, or you know, two parts of his career, 422 00:20:59,560 --> 00:21:02,960 Speaker 11: you know, the player and Alex the investor. In many 423 00:21:03,240 --> 00:21:08,520 Speaker 11: Alex the businessman, Alex the CEO. You know, I mean, 424 00:21:08,640 --> 00:21:11,919 Speaker 11: in terms of surprises, I think there are a couple. 425 00:21:12,280 --> 00:21:12,480 Speaker 3: You know. 426 00:21:12,600 --> 00:21:18,879 Speaker 11: One is sort of this this unbelievable curiosity and really 427 00:21:19,359 --> 00:21:24,160 Speaker 11: real desire to understand what drives other people, and his 428 00:21:24,200 --> 00:21:27,359 Speaker 11: willingness to kind of compare notes and to that point. 429 00:21:27,359 --> 00:21:31,439 Speaker 11: So the second surprise is a real vulnerability in like 430 00:21:32,240 --> 00:21:35,639 Speaker 11: showing things that he doesn't know or sharing experiences that 431 00:21:36,040 --> 00:21:38,840 Speaker 11: he's had. You know, we do in the context of 432 00:21:38,880 --> 00:21:42,400 Speaker 11: the Derek Jeter episode, you know, talk about their relationship 433 00:21:42,480 --> 00:21:45,000 Speaker 11: and I won't spoil it, but you know, they both 434 00:21:45,000 --> 00:21:47,920 Speaker 11: say some really interesting things, and Alex says, I thought 435 00:21:48,000 --> 00:21:51,720 Speaker 11: some really interesting things about how he saw it all 436 00:21:51,800 --> 00:21:54,680 Speaker 11: develop You know, these are guys. These are two guys 437 00:21:54,720 --> 00:21:57,640 Speaker 11: who met when they were teenagers real it got real, 438 00:21:57,960 --> 00:21:59,960 Speaker 11: I mean, and they were on the cover of Sports Illustrated. 439 00:22:00,480 --> 00:22:03,000 Speaker 11: They tell a great story about being teenagers in LA 440 00:22:03,160 --> 00:22:05,959 Speaker 11: and like sitting in a cab and talking about like 441 00:22:06,760 --> 00:22:09,720 Speaker 11: what they would what they would do to basically play 442 00:22:09,720 --> 00:22:10,880 Speaker 11: baseball the rest of their lives. 443 00:22:10,960 --> 00:22:11,640 Speaker 2: It's pretty cool. 444 00:22:11,680 --> 00:22:12,760 Speaker 1: You didn't have no more Collin. 445 00:22:12,920 --> 00:22:15,600 Speaker 2: We did not. No no Ma, no no ma. 446 00:22:16,080 --> 00:22:17,840 Speaker 8: Jason. I have to ask this, you know, I mean, 447 00:22:18,040 --> 00:22:20,240 Speaker 8: everyone myself included. I'm fifty years old. 448 00:22:20,760 --> 00:22:20,960 Speaker 3: You know. 449 00:22:21,040 --> 00:22:23,760 Speaker 8: We remember, you know, all the drama surrounding a Rod 450 00:22:23,760 --> 00:22:27,960 Speaker 8: and all the the media hype surrounding his persona, his 451 00:22:28,160 --> 00:22:30,639 Speaker 8: brand at that point in time, and what a lot 452 00:22:30,720 --> 00:22:33,520 Speaker 8: of us don't know are all the work that this 453 00:22:33,600 --> 00:22:36,760 Speaker 8: man has done with the Boys and Girls Club of America, 454 00:22:36,960 --> 00:22:39,240 Speaker 8: the University of Miami, where my son's a freshman, I 455 00:22:39,280 --> 00:22:42,040 Speaker 8: mean all of the I mean I remember him speaking 456 00:22:42,080 --> 00:22:44,520 Speaker 8: at my son's sleep away camp some ten years ago, 457 00:22:44,880 --> 00:22:47,480 Speaker 8: you know, an inspirational kind of event during visiting day. 458 00:22:47,600 --> 00:22:47,760 Speaker 3: Right. 459 00:22:47,800 --> 00:22:51,080 Speaker 8: You know, Alex has given back his entire career and 460 00:22:51,119 --> 00:22:53,480 Speaker 8: I'm I'm just curious, you know how that kind of 461 00:22:53,520 --> 00:22:55,960 Speaker 8: comes through in the podcast. I mean, you know, he 462 00:22:56,000 --> 00:22:58,520 Speaker 8: has two daughters, He's a family man. I mean, talk 463 00:22:58,520 --> 00:23:00,680 Speaker 8: to us a little bit about, you know, the soft 464 00:23:00,680 --> 00:23:01,359 Speaker 8: side of Alex. 465 00:23:01,680 --> 00:23:04,639 Speaker 2: Yeah, that's interesting, you know. 466 00:23:04,680 --> 00:23:07,040 Speaker 11: I mean, this is a guy who will be the 467 00:23:07,040 --> 00:23:08,560 Speaker 11: first to say and he says it a lot in 468 00:23:08,880 --> 00:23:10,800 Speaker 11: the podcast. Has done a lot of work on himself. 469 00:23:10,840 --> 00:23:14,920 Speaker 11: You know, he went through with record suspension in Major 470 00:23:14,960 --> 00:23:18,560 Speaker 11: League Baseball. He talks about that, you know, he talks 471 00:23:18,560 --> 00:23:19,879 Speaker 11: about the lessons learned. 472 00:23:20,240 --> 00:23:20,399 Speaker 6: You know. 473 00:23:20,480 --> 00:23:24,000 Speaker 11: I think you know, one of the interesting things too 474 00:23:24,920 --> 00:23:28,480 Speaker 11: about him, which is both a personal and a business observation, 475 00:23:28,840 --> 00:23:35,240 Speaker 11: is he is incredibly rare as well in this transition 476 00:23:35,440 --> 00:23:38,359 Speaker 11: from player to team owner. You know, he's the owner 477 00:23:38,480 --> 00:23:41,400 Speaker 11: he's a co owner of the Minnesota Timberwolves in Minnesota 478 00:23:41,440 --> 00:23:43,920 Speaker 11: Links and the w n B A, and I think 479 00:23:43,960 --> 00:23:49,200 Speaker 11: that perspective really opens him up as a human candidly 480 00:23:49,240 --> 00:23:52,800 Speaker 11: because he's dealing with these young players in a way 481 00:23:52,840 --> 00:23:55,919 Speaker 11: that almost no one else, no other owner. Can you know, 482 00:23:56,200 --> 00:23:59,840 Speaker 11: if you're and this is no disrespect in the him, 483 00:23:59,880 --> 00:24:02,800 Speaker 11: but if you're Jerry Jones, or you're Josh Harris, or 484 00:24:02,840 --> 00:24:05,879 Speaker 11: you're Steve Ballmer, it's like you didn't play, Like you 485 00:24:06,440 --> 00:24:09,399 Speaker 11: don't know what that feels like to be in an 486 00:24:09,440 --> 00:24:12,159 Speaker 11: arena or to be in a stadium and to know 487 00:24:12,280 --> 00:24:17,399 Speaker 11: that pressure. And so to have someone who can, you know, 488 00:24:17,520 --> 00:24:20,960 Speaker 11: ultimately be your boss and say like, I know what 489 00:24:21,000 --> 00:24:22,480 Speaker 11: it's like, like I know what it's like when you 490 00:24:22,480 --> 00:24:23,920 Speaker 11: have a bad game. I know what it's like when 491 00:24:23,960 --> 00:24:25,720 Speaker 11: people blew you. I know what it's like when people 492 00:24:25,800 --> 00:24:27,359 Speaker 11: cheer for you. I know what it's like to be 493 00:24:27,520 --> 00:24:30,600 Speaker 11: written about, and all these different things. I think it 494 00:24:30,840 --> 00:24:35,200 Speaker 11: just adds it in almost like emotional and human complexity 495 00:24:36,200 --> 00:24:40,239 Speaker 11: and possibility and opportunity for Alex. That is is an 496 00:24:40,320 --> 00:24:42,120 Speaker 11: interesting one to me, at least a. 497 00:24:42,119 --> 00:24:46,040 Speaker 9: Multi dimensional Alex Rodriguez bringing out the different sides of 498 00:24:46,080 --> 00:24:50,400 Speaker 9: the famous athletes that he works with, that he's associated 499 00:24:50,440 --> 00:24:53,240 Speaker 9: with and that he sees as colleagues in many ways. 500 00:24:53,440 --> 00:24:55,360 Speaker 6: And Jason, where can people watch the program? 501 00:24:55,440 --> 00:24:58,800 Speaker 11: It's available as a podcast and as a video, so 502 00:24:58,920 --> 00:25:02,840 Speaker 11: on Bloomberg Television, on YouTube, on Bloomberg dot com, and 503 00:25:02,880 --> 00:25:05,160 Speaker 11: then on the podcast side where you get your podcast. 504 00:25:05,320 --> 00:25:07,359 Speaker 1: And after that it'll be a weekly series. 505 00:25:07,080 --> 00:25:10,320 Speaker 11: Weekly series, twelve episodes, so stay tuned, and you know, 506 00:25:10,400 --> 00:25:12,840 Speaker 11: coming up, as you guys mentioned, we'll have Michael Strahand, 507 00:25:12,840 --> 00:25:16,400 Speaker 11: we have Derek Jeter, we have Constance Schwartz Marini, who 508 00:25:16,480 --> 00:25:19,680 Speaker 11: is actually Michael Strahan's business partner and also chief advisor 509 00:25:19,760 --> 00:25:23,440 Speaker 11: to Coach Prime and has worked with Snoop Dogg and 510 00:25:23,480 --> 00:25:24,359 Speaker 11: Aaron Andrews. 511 00:25:24,400 --> 00:25:27,000 Speaker 2: She tells a great Taylor Swift story. 512 00:25:27,520 --> 00:25:29,440 Speaker 8: Who talks as if he knows these guys personally. 513 00:25:31,840 --> 00:25:34,480 Speaker 11: Larry Fitzgerald, we'd spent some time with him. He was 514 00:25:34,520 --> 00:25:39,680 Speaker 11: an incredible Hannah Storm. So a lot of really fun conversations. 515 00:25:39,720 --> 00:25:41,359 Speaker 11: I'm excited for you guys to hear them up. 516 00:25:41,400 --> 00:25:43,560 Speaker 6: Next on the show, we speak with ridge Stone Golf 517 00:25:43,600 --> 00:25:47,240 Speaker 6: President and CEO Dan Murphy. I'm Michael Barr along with 518 00:25:47,280 --> 00:25:51,199 Speaker 6: Scarlett fu and Damian Saasaur. You're listening to Bloomberg Business 519 00:25:51,200 --> 00:25:54,040 Speaker 6: of Sports from Bloomberg Radio around the world. 520 00:25:58,800 --> 00:26:04,440 Speaker 7: This is Bloomberg Business of Sports from Bloomberg Radio. Welcome 521 00:26:04,480 --> 00:26:07,159 Speaker 7: back to the Bloomberg Business of Sports. I'm Michael Barr, 522 00:26:07,359 --> 00:26:11,200 Speaker 7: joined as always with Scarlett Fooh and Damian Sasaur. You've 523 00:26:11,359 --> 00:26:15,439 Speaker 7: probably heard the name Tiger Woods, but did you know 524 00:26:15,520 --> 00:26:18,920 Speaker 7: Tiger Woods has had a long relationship with ridge Stone 525 00:26:18,920 --> 00:26:22,080 Speaker 7: Golf for many years, over twenty to be exact, helping 526 00:26:22,119 --> 00:26:25,399 Speaker 7: the company with prototyping and testing the company's golf balls, 527 00:26:25,440 --> 00:26:29,479 Speaker 7: clubs and accessories. So joining us to talk about that 528 00:26:29,680 --> 00:26:33,280 Speaker 7: partnership and the growth of the Sport International League is 529 00:26:33,320 --> 00:26:37,120 Speaker 7: the President and CEO of Bridgestone Golf, Dan Murphy. Dan, 530 00:26:37,240 --> 00:26:39,480 Speaker 7: Welcome to the Bloomberg Business of Sports. 531 00:26:39,680 --> 00:26:41,919 Speaker 3: Thank you for having me. I'm excited to be with you. 532 00:26:42,119 --> 00:26:46,520 Speaker 6: So now I'm getting excited even though I am I 533 00:26:46,640 --> 00:26:49,879 Speaker 6: tried golf once and I'm not very good. I'm not 534 00:26:50,000 --> 00:26:53,440 Speaker 6: very good at anything, but golf is exciting and people 535 00:26:53,520 --> 00:26:56,760 Speaker 6: will play playing. Right now, the weather is starting to break. 536 00:26:57,080 --> 00:26:59,600 Speaker 6: The groundhog said, you know what, go out there and 537 00:26:59,680 --> 00:27:03,040 Speaker 6: hit the off course. Where do you see the industry 538 00:27:03,520 --> 00:27:05,720 Speaker 6: heading for twenty twenty four. 539 00:27:05,960 --> 00:27:08,280 Speaker 3: It's a very interesting industry. I've been in it for 540 00:27:08,320 --> 00:27:10,399 Speaker 3: twenty five years and I've seen the ups and downs, 541 00:27:10,400 --> 00:27:13,560 Speaker 3: and ever since the pandemic, we had a shut down 542 00:27:13,640 --> 00:27:17,240 Speaker 3: of our industry, and then in May of twenty twenty, 543 00:27:17,600 --> 00:27:20,439 Speaker 3: we saw a boom in golf. It was the safe play. 544 00:27:21,000 --> 00:27:24,399 Speaker 3: People could get out and get some recreation, some fresh 545 00:27:24,400 --> 00:27:26,199 Speaker 3: air and out of the house, and golf has been 546 00:27:26,240 --> 00:27:27,119 Speaker 3: booming ever since. 547 00:27:27,480 --> 00:27:29,760 Speaker 9: That's one of the things that has really stuck around 548 00:27:29,800 --> 00:27:32,560 Speaker 9: after the pandemic, this idea that golf has seen this 549 00:27:32,640 --> 00:27:37,200 Speaker 9: renaissance and it's picked up interest, especially among the younger set. 550 00:27:37,480 --> 00:27:39,680 Speaker 9: So I'm curious from where you sit, who you see 551 00:27:39,720 --> 00:27:45,159 Speaker 9: as the next ambassador for the sport. Tiger Woods certainly impactful, 552 00:27:45,160 --> 00:27:47,920 Speaker 9: but not in the same way that he was before, 553 00:27:48,160 --> 00:27:52,760 Speaker 9: even as he continues to increase his marketing possibilities with 554 00:27:52,840 --> 00:27:55,800 Speaker 9: his new deal, his new apparel line with Taylor Made, 555 00:27:55,880 --> 00:27:56,840 Speaker 9: Who's the future of golf? 556 00:27:56,880 --> 00:27:58,920 Speaker 3: From where you sit, well, it's hard to say. I mean, 557 00:27:59,400 --> 00:28:02,239 Speaker 3: we still think it's Tiger. Tiger is our guy. He 558 00:28:02,240 --> 00:28:04,760 Speaker 3: plays a bridgetone golf ball, He's played a bridgetone golf 559 00:28:04,760 --> 00:28:07,120 Speaker 3: ball for many many years. You know, he really moves 560 00:28:07,160 --> 00:28:09,439 Speaker 3: the needle for us, and he's still the guy. In 561 00:28:09,480 --> 00:28:13,119 Speaker 3: twenty twenty four, he's really got a much more extensive 562 00:28:13,160 --> 00:28:15,639 Speaker 3: playing schedule. He's talking about playing once a month. So 563 00:28:16,400 --> 00:28:18,760 Speaker 3: I think next up could be the Players, and then 564 00:28:19,119 --> 00:28:23,400 Speaker 3: Masters after that, and PGA Championship after that, and then 565 00:28:23,400 --> 00:28:26,680 Speaker 3: we'll see where he goes. But we think Tiger's still 566 00:28:26,680 --> 00:28:30,440 Speaker 3: the guy. He's the one that moves the ratings meter 567 00:28:31,040 --> 00:28:33,560 Speaker 3: and he's the one that definitely helps us sell golf balls. 568 00:28:34,600 --> 00:28:36,440 Speaker 3: Though I don't know that there's ever going to be 569 00:28:36,480 --> 00:28:39,600 Speaker 3: another exact Tiger Woods. I think there's a group of 570 00:28:39,640 --> 00:28:43,760 Speaker 3: guys out there that are pretty good, Jordan Spieth, Justin Thomas, 571 00:28:44,120 --> 00:28:46,920 Speaker 3: Victor Hobland, And I think that's the exciting thing about 572 00:28:46,920 --> 00:28:49,120 Speaker 3: our sport is you just never know where that next 573 00:28:49,120 --> 00:28:51,480 Speaker 3: superstar is going to come from or how that the 574 00:28:51,600 --> 00:28:55,080 Speaker 3: next one will blossom. So hard to say specifically, and 575 00:28:55,280 --> 00:28:58,120 Speaker 3: I don't know that since Jack Nicholas that we've had 576 00:28:58,200 --> 00:29:01,480 Speaker 3: anybody of the stature of Tiger Woods, and I don't 577 00:29:01,520 --> 00:29:04,280 Speaker 3: know that we'll see that again in our generation. But 578 00:29:05,080 --> 00:29:06,959 Speaker 3: there'll be some good young players that will move the 579 00:29:06,960 --> 00:29:08,520 Speaker 3: needle and draw some ratings. 580 00:29:08,760 --> 00:29:10,640 Speaker 8: Dan, that is the right answer. There will never be 581 00:29:10,880 --> 00:29:13,720 Speaker 8: another Tiger. I mean, what a great answer. But I mean, 582 00:29:13,760 --> 00:29:15,360 Speaker 8: in full disclosure, I wonder if you could tell our 583 00:29:15,400 --> 00:29:18,120 Speaker 8: audience a little bit about why I should be using 584 00:29:18,240 --> 00:29:21,680 Speaker 8: Tiger's Tour BX Bridgestone golf balls as opposed to the 585 00:29:21,680 --> 00:29:23,800 Speaker 8: pro v one X. I mean, talk to me about that. 586 00:29:23,880 --> 00:29:27,760 Speaker 8: And our audience doesn't know the technology, the sophistication of 587 00:29:28,160 --> 00:29:30,360 Speaker 8: what goes into the production of the perfect golf ball. 588 00:29:30,520 --> 00:29:32,680 Speaker 6: See Dan, you can tell who is the great golfer 589 00:29:32,720 --> 00:29:33,600 Speaker 6: here among them. 590 00:29:35,200 --> 00:29:38,440 Speaker 3: You know, it's interesting. We certainly we love Tiger playing 591 00:29:38,480 --> 00:29:41,280 Speaker 3: our ball, and he plays a model called the Tour BX, 592 00:29:41,320 --> 00:29:44,440 Speaker 3: and it's it's designed for his game. One of the 593 00:29:44,480 --> 00:29:47,280 Speaker 3: things that makes us different. They talk about one model 594 00:29:47,360 --> 00:29:50,800 Speaker 3: being the right model for everybody, that one size fits all. 595 00:29:51,240 --> 00:29:54,200 Speaker 3: We've gone in a very different strategy, a very different 596 00:29:55,040 --> 00:29:58,320 Speaker 3: offering to consumers where we talk about fitting and fitting 597 00:29:58,400 --> 00:30:01,040 Speaker 3: the right golf ball to the right right golfer. You know, 598 00:30:01,040 --> 00:30:04,560 Speaker 3: we don't all wear size extra large shirts or size 599 00:30:04,560 --> 00:30:08,360 Speaker 3: twelve shoes, and we don't all play extra stiff shafts 600 00:30:08,400 --> 00:30:11,040 Speaker 3: like the pros do on tour so why are we 601 00:30:11,080 --> 00:30:14,360 Speaker 3: all playing the same golf ball? So bridge Stone popularized 602 00:30:14,360 --> 00:30:17,080 Speaker 3: and really made it a brand position to talk about fitting, 603 00:30:17,520 --> 00:30:21,000 Speaker 3: and so we take the characteristics of each individual golfer, 604 00:30:21,320 --> 00:30:24,120 Speaker 3: incorporate that into the choice, and then recommend one of 605 00:30:24,160 --> 00:30:26,800 Speaker 3: several different golf balls, not just the one size fits all. 606 00:30:27,000 --> 00:30:30,120 Speaker 6: I want to mention something about Tiger Woods. Fifty years 607 00:30:30,160 --> 00:30:32,560 Speaker 6: from now, is Tiger Woods going to be like the 608 00:30:32,680 --> 00:30:34,000 Speaker 6: Chuck Taylor of sneakers? 609 00:30:34,200 --> 00:30:38,800 Speaker 3: Absolutely, the Michael Jordan maybe I think he will be. 610 00:30:38,920 --> 00:30:42,560 Speaker 3: I think his accomplishments are so far above and beyond 611 00:30:42,600 --> 00:30:44,600 Speaker 3: what everybody else has been able to do. And you know, 612 00:30:44,680 --> 00:30:46,960 Speaker 3: the only person that I think is measurable to him 613 00:30:47,480 --> 00:30:50,960 Speaker 3: is Jack Nichols himself. But yeah, I think we'll be 614 00:30:50,960 --> 00:30:53,640 Speaker 3: talking about Tiger Woods for a long long time and 615 00:30:53,800 --> 00:30:56,360 Speaker 3: using him as a standard of measure of what the 616 00:30:56,400 --> 00:30:57,440 Speaker 3: superstar looks like. 617 00:30:57,560 --> 00:31:00,160 Speaker 9: Tiger Woods is one storyline when it comes to the 618 00:31:00,160 --> 00:31:02,320 Speaker 9: world of golf. The other storyline, of course, is this 619 00:31:02,720 --> 00:31:05,960 Speaker 9: possible live golf PGA merger, which I don't think we 620 00:31:06,000 --> 00:31:08,120 Speaker 9: have any clarity on right now, even as. 621 00:31:07,960 --> 00:31:11,280 Speaker 1: A PGA tour reached a deal with a group. 622 00:31:11,080 --> 00:31:13,760 Speaker 9: Of billionaire sports team owners to get up to three 623 00:31:13,760 --> 00:31:17,040 Speaker 9: billion dollars in into a new for profit entity, PGA 624 00:31:17,080 --> 00:31:19,160 Speaker 9: Tour Enterprises. I mean, it's kind of just a big 625 00:31:19,200 --> 00:31:22,360 Speaker 9: bundle of headlines that, at least for us, doesn't really 626 00:31:22,360 --> 00:31:25,280 Speaker 9: clarify what's next. Clearly, there's a lot of movement, there's 627 00:31:25,280 --> 00:31:28,200 Speaker 9: a lot of drama here. Is this drama between Live 628 00:31:28,240 --> 00:31:31,040 Speaker 9: Golf and PGA good for your business? Bad for your business? 629 00:31:31,440 --> 00:31:34,280 Speaker 3: Oh? I think a unified tour would be better for 630 00:31:34,320 --> 00:31:37,320 Speaker 3: our business. I think it's a little distracting to have 631 00:31:37,680 --> 00:31:40,680 Speaker 3: a separation of the best players in the world, some 632 00:31:40,720 --> 00:31:43,560 Speaker 3: playing on one tour and some on another. So yeah, 633 00:31:43,560 --> 00:31:46,000 Speaker 3: I think it would be better for our business if 634 00:31:46,040 --> 00:31:49,720 Speaker 3: they got back together in some form or fashion. We've 635 00:31:49,760 --> 00:31:52,800 Speaker 3: been watching it very very closely, and we've had players 636 00:31:52,840 --> 00:31:56,960 Speaker 3: go in each direction. So yeah, we don't know what's 637 00:31:57,000 --> 00:31:59,440 Speaker 3: going to happen next, but we're anxious for it to 638 00:31:59,480 --> 00:32:04,560 Speaker 3: be resolved. For a unified golf tour featuring the best 639 00:32:04,560 --> 00:32:06,760 Speaker 3: players in the world, we think would be better for everybody. 640 00:32:06,920 --> 00:32:10,040 Speaker 8: Dan is March sixth circled on your calendar? I mean, 641 00:32:10,080 --> 00:32:12,680 Speaker 8: because we all know that March sixth is when Full 642 00:32:12,720 --> 00:32:16,080 Speaker 8: Swing Season two releases, right, and they caught a lot 643 00:32:16,120 --> 00:32:18,760 Speaker 8: of last year's drama. And I'm just curious, you know, 644 00:32:18,800 --> 00:32:22,040 Speaker 8: your thoughts on Netflix on Full Swing on Full Swing two. 645 00:32:22,120 --> 00:32:24,480 Speaker 8: I mean, is this also good for the game of golf? 646 00:32:24,600 --> 00:32:27,080 Speaker 3: Oh? Absolutely, I think it. There's a couple of things 647 00:32:27,120 --> 00:32:29,760 Speaker 3: really working in golf's favor, and certainly the Netflix Full 648 00:32:29,760 --> 00:32:33,000 Speaker 3: Swing is really a good one. You know, as it 649 00:32:33,160 --> 00:32:36,880 Speaker 3: happened with Formula One, it really broadened the audience base 650 00:32:37,000 --> 00:32:40,040 Speaker 3: and got a lot more diversity and a lot more 651 00:32:40,040 --> 00:32:43,360 Speaker 3: eyeballs on the sports. So I think that's gonna gonna 652 00:32:43,360 --> 00:32:45,640 Speaker 3: help a lot as well. I think also this whole 653 00:32:46,040 --> 00:32:50,080 Speaker 3: activity of off course golf is really helping off course golf, 654 00:32:50,120 --> 00:32:54,000 Speaker 3: meaning top golf or simulator golf that that has become 655 00:32:54,080 --> 00:32:56,920 Speaker 3: very very popular the last five or ten years, and 656 00:32:57,560 --> 00:33:00,320 Speaker 3: I think that's acted as a feeder system to to 657 00:33:00,400 --> 00:33:03,560 Speaker 3: really keep golf going in a big way and nourish 658 00:33:03,640 --> 00:33:06,920 Speaker 3: our our participation numbers in a very positive way. 659 00:33:07,040 --> 00:33:09,760 Speaker 6: I want to talk more about that, about the simulated 660 00:33:09,840 --> 00:33:13,640 Speaker 6: golf in all the facilities that have something like that, 661 00:33:14,040 --> 00:33:18,800 Speaker 6: because the technology in golf today is totally different than 662 00:33:18,840 --> 00:33:23,840 Speaker 6: what it was even twenty thirty years ago. All I 663 00:33:23,920 --> 00:33:26,800 Speaker 6: knew about golf back then was well, it's a little 664 00:33:26,800 --> 00:33:30,720 Speaker 6: white ball and it's round, and that's it. Now you 665 00:33:30,840 --> 00:33:33,440 Speaker 6: have everything to break down your swing. And I'm not 666 00:33:33,520 --> 00:33:37,240 Speaker 6: talking about just a video. I'm talking about all of 667 00:33:37,280 --> 00:33:41,080 Speaker 6: the AI involved with trying to get your game better. 668 00:33:41,800 --> 00:33:44,640 Speaker 6: Where do you see the future of AI taking golf. 669 00:33:44,880 --> 00:33:47,600 Speaker 3: We're using it in ball fitting. I talked a little 670 00:33:47,600 --> 00:33:50,760 Speaker 3: bit about ball fitting, and we have an AI application 671 00:33:50,880 --> 00:33:53,880 Speaker 3: that we think is pretty cool where a golfer can 672 00:33:53,880 --> 00:33:57,720 Speaker 3: come in and interact with our AI program and input 673 00:33:57,840 --> 00:34:01,040 Speaker 3: what's important to them relative to the formans of golf ball, 674 00:34:01,160 --> 00:34:03,800 Speaker 3: some of their characteristics of how they swing, and hey, 675 00:34:03,840 --> 00:34:08,640 Speaker 3: I will give them back a recommendation. So what we're 676 00:34:08,640 --> 00:34:12,480 Speaker 3: doing is we're using AI to help educate consumers about 677 00:34:12,480 --> 00:34:15,160 Speaker 3: ball fitting and getting the right ball for their game. So, 678 00:34:15,640 --> 00:34:17,279 Speaker 3: you know, I think I think it can be a help. 679 00:34:17,400 --> 00:34:19,640 Speaker 3: I think we're all trying to figure out AI, not 680 00:34:19,680 --> 00:34:22,160 Speaker 3: only in the golf space, but but across our our 681 00:34:22,239 --> 00:34:23,200 Speaker 3: overall company. 682 00:34:23,320 --> 00:34:25,440 Speaker 6: See that's why I'm afraid of AI. I'm sure it's 683 00:34:25,480 --> 00:34:26,160 Speaker 6: going to come back. 684 00:34:26,200 --> 00:34:26,400 Speaker 3: You know. 685 00:34:26,480 --> 00:34:29,480 Speaker 6: Giving my input is like you suck bar because you 686 00:34:29,560 --> 00:34:30,160 Speaker 6: can't swing. 687 00:34:30,440 --> 00:34:33,120 Speaker 8: Diddley Squad and you know, going back to things, I mean, 688 00:34:33,160 --> 00:34:35,920 Speaker 8: talk to us about you know, international expansion. Talk to 689 00:34:35,960 --> 00:34:39,000 Speaker 8: about what Live means, you know, I mean, you see 690 00:34:39,040 --> 00:34:41,680 Speaker 8: you see tournaments now in places like Singapore and Asia. 691 00:34:41,760 --> 00:34:43,160 Speaker 8: You know, talk to us a little bit about the 692 00:34:43,160 --> 00:34:45,319 Speaker 8: international expansion, what that means for you what that means 693 00:34:45,320 --> 00:34:46,080 Speaker 8: for Bridgestone. 694 00:34:46,480 --> 00:34:49,600 Speaker 3: Yeah, for Bridgetone, we're you know, we're excited about international. 695 00:34:49,640 --> 00:34:54,359 Speaker 3: We're Tokyo based. We're riding a wave of golf participation 696 00:34:54,520 --> 00:34:57,920 Speaker 3: increases all across the across the globe, particularly in Asia. 697 00:34:58,400 --> 00:35:01,360 Speaker 3: Korea has been a great, great market for US. Japan 698 00:35:01,600 --> 00:35:04,520 Speaker 3: we're number one in Japan in terms of market share, 699 00:35:05,000 --> 00:35:07,440 Speaker 3: and then Europe has been very good for US as well. So, 700 00:35:08,600 --> 00:35:11,799 Speaker 3: you know, we see golf growing in popularity, live or 701 00:35:11,840 --> 00:35:13,920 Speaker 3: not live. I don't know if we credit Live with 702 00:35:14,600 --> 00:35:19,239 Speaker 3: bringing golf to new locations. I don't know that yet, 703 00:35:19,280 --> 00:35:22,320 Speaker 3: But I know that golf is surging in popularity. And 704 00:35:23,280 --> 00:35:26,080 Speaker 3: you know, the US market is by far the biggest 705 00:35:26,080 --> 00:35:29,200 Speaker 3: Market's about fifty percent of the global market, and it 706 00:35:29,239 --> 00:35:31,600 Speaker 3: really sets the stage and sets the tone for the 707 00:35:31,600 --> 00:35:34,080 Speaker 3: rest of the world. And so as the US has 708 00:35:34,160 --> 00:35:36,319 Speaker 3: taken off, the rest of the markets are taken off 709 00:35:36,360 --> 00:35:37,920 Speaker 3: as well, so we're excited about that. 710 00:35:38,239 --> 00:35:39,680 Speaker 9: And when it comes to that growth, I want to 711 00:35:39,680 --> 00:35:41,520 Speaker 9: go back to something you said, which was the off 712 00:35:41,520 --> 00:35:44,600 Speaker 9: course golf, the idea of just going to the driving 713 00:35:44,680 --> 00:35:47,440 Speaker 9: range or simulated golf. Can you give us a breakdown 714 00:35:47,640 --> 00:35:50,560 Speaker 9: of what the growth looks like in off course golf 715 00:35:50,680 --> 00:35:54,440 Speaker 9: versus traditional golf on course golf, and how much of 716 00:35:54,440 --> 00:35:57,280 Speaker 9: your market is in off course golf. 717 00:35:57,560 --> 00:35:59,960 Speaker 3: Well, we're totally on course, so think about the mark 718 00:36:00,280 --> 00:36:03,640 Speaker 3: in terms of off course participation and on course participation. 719 00:36:03,719 --> 00:36:06,320 Speaker 3: And I just happen to have some new numbers from MGF, 720 00:36:06,400 --> 00:36:10,799 Speaker 3: that's one of the industry groups, and they talk about 721 00:36:10,840 --> 00:36:14,880 Speaker 3: there being thirty three million US golfers that play off course. 722 00:36:14,960 --> 00:36:19,240 Speaker 3: That means top golf or simulator golf, so thirty three million. 723 00:36:19,560 --> 00:36:22,720 Speaker 3: They talk about twenty seven million people playing en course golf, 724 00:36:22,719 --> 00:36:25,640 Speaker 3: and there's some overlap between those two groups, but the 725 00:36:25,680 --> 00:36:28,520 Speaker 3: actual number of people playing off course golf is greater 726 00:36:28,680 --> 00:36:33,560 Speaker 3: now and growing more rapidly. And before the pandemic, let's see, 727 00:36:33,560 --> 00:36:36,920 Speaker 3: I've got a cool staff here. The off course business 728 00:36:37,160 --> 00:36:41,120 Speaker 3: is up forty one percent versus twenty nineteen before the pandemic, 729 00:36:41,239 --> 00:36:44,480 Speaker 3: So a lot of big change in behavior. And you know, 730 00:36:44,640 --> 00:36:47,720 Speaker 3: us traditional we make golf balls. Bridgetone Golf makes golf balls, 731 00:36:47,719 --> 00:36:50,560 Speaker 3: and so we're mostly interested in people getting out onto 732 00:36:50,560 --> 00:36:53,879 Speaker 3: a green grass golf course and playing and hitting those 733 00:36:53,880 --> 00:36:55,719 Speaker 3: balls in the woods so we can replace them, right. 734 00:36:55,920 --> 00:37:04,800 Speaker 3: So it's interesting because at first, when the off course 735 00:37:05,120 --> 00:37:08,879 Speaker 3: business started to really take off, some of us traditionalists 736 00:37:08,920 --> 00:37:10,799 Speaker 3: were worried about it. We said, oh my gosh, there's 737 00:37:10,800 --> 00:37:13,840 Speaker 3: only so many golf dollars going around. From a consumer perspective, 738 00:37:14,280 --> 00:37:17,000 Speaker 3: are these guys going to take golf time and money 739 00:37:17,040 --> 00:37:19,480 Speaker 3: away from us? And the answer has clearly been no. 740 00:37:19,640 --> 00:37:24,279 Speaker 3: It's become a feeder system, almost an entry point for 741 00:37:25,080 --> 00:37:27,800 Speaker 3: golfers to you know, if you go to Top Golf 742 00:37:27,800 --> 00:37:30,040 Speaker 3: one of the restaurants or so, you can have a 743 00:37:30,040 --> 00:37:32,360 Speaker 3: beer and hit some golf balls in a very friendly 744 00:37:32,440 --> 00:37:35,120 Speaker 3: environment with your family or your friends, and that makes 745 00:37:35,160 --> 00:37:38,120 Speaker 3: you more likely to come out and experience green grass golf, 746 00:37:38,120 --> 00:37:39,799 Speaker 3: which is where we benefit well. 747 00:37:39,880 --> 00:37:42,360 Speaker 6: Dan, the way I drive, I've sliced too many tires, 748 00:37:42,360 --> 00:37:46,040 Speaker 6: but that's another story in a new show altogether. Dan Murphy, 749 00:37:46,320 --> 00:37:49,919 Speaker 6: President and CEO of Bridgestone Golf, Thank you so much, sir, 750 00:37:50,320 --> 00:37:52,400 Speaker 6: for joining us on the Bloomberg Business of Sports. We 751 00:37:52,480 --> 00:37:53,680 Speaker 6: really do appreciate it well. 752 00:37:53,680 --> 00:37:55,560 Speaker 3: Thank you so much for having me. Is a great 753 00:37:55,560 --> 00:37:56,600 Speaker 3: honor to be on Bloomberg. 754 00:37:56,960 --> 00:37:59,319 Speaker 6: This has been the Bloomberg Business of Sports show. Our 755 00:37:59,400 --> 00:38:03,600 Speaker 6: special things to Bloomberg News, Kim bessin, Bloomberg Originals, Jason Kelly, 756 00:38:03,800 --> 00:38:07,120 Speaker 6: and Bridgestone Golf President and CEO Dan Murphy for joining 757 00:38:07,160 --> 00:38:09,759 Speaker 6: us on the program this week, and thank you for 758 00:38:09,840 --> 00:38:13,440 Speaker 6: tuning in. Remember to check our the Deal with Jason 759 00:38:13,520 --> 00:38:17,640 Speaker 6: Kelly and Alex Rodriguez. It's out now streaming on Bloomberg Originals, 760 00:38:17,640 --> 00:38:20,160 Speaker 6: and you can also listen to the podcast by going 761 00:38:20,160 --> 00:38:23,520 Speaker 6: to Bloomberg dot com or on any of your favorite 762 00:38:23,520 --> 00:38:27,840 Speaker 6: streaming platforms. Forris Scarlett fou and Damien Sassaur, I'm Michael Barr. 763 00:38:28,040 --> 00:38:30,560 Speaker 6: Thanks again for joining us. Tune in again next week 764 00:38:30,600 --> 00:38:33,720 Speaker 6: for the latest on the stories moving big old money 765 00:38:33,760 --> 00:38:36,520 Speaker 6: in the world of sports. You're listening the Bloomberg Business 766 00:38:36,520 --> 00:38:39,320 Speaker 6: of Sports Bloomberg Radio around the world.