1 00:00:01,680 --> 00:00:04,680 Speaker 1: This is Bloomberg Business of Sports. I'm Scott Sasnik and 2 00:00:04,680 --> 00:00:07,320 Speaker 1: I'm Michael Barr. Over the next hour, we will explore 3 00:00:07,400 --> 00:00:09,840 Speaker 1: the big money issues in the world of sports, and 4 00:00:09,840 --> 00:00:11,920 Speaker 1: we'll talk to some of the biggest players in the industry. 5 00:00:12,000 --> 00:00:15,160 Speaker 1: Today we sit down with Milwaukee Bucks co owner Mark Lassie, 6 00:00:15,200 --> 00:00:18,880 Speaker 1: who purchased the NBA team for a record price. I 7 00:00:18,880 --> 00:00:20,959 Speaker 1: think when we had looked at it, we thought you 8 00:00:21,000 --> 00:00:23,920 Speaker 1: were also getting a media company, so we thought what 9 00:00:24,040 --> 00:00:26,119 Speaker 1: was a record price at the time would end up 10 00:00:26,160 --> 00:00:28,720 Speaker 1: being a reasonable price within a couple of years. But 11 00:00:28,800 --> 00:00:30,840 Speaker 1: before we hear from Mark last, really, let's take a 12 00:00:30,840 --> 00:00:33,320 Speaker 1: look at some of the top stories at the intersection 13 00:00:33,360 --> 00:00:36,680 Speaker 1: of money and sports. New York Giants star wide receiver 14 00:00:36,720 --> 00:00:40,000 Speaker 1: Odell Beckham is one of the most high profile athletes 15 00:00:40,040 --> 00:00:43,519 Speaker 1: in the NFL. He has received praise for his on 16 00:00:43,640 --> 00:00:46,960 Speaker 1: the field performance, but also it's coming to fire for 17 00:00:47,120 --> 00:00:51,080 Speaker 1: some of his conduct, prompting Giants general manager Jerry Reese 18 00:00:51,120 --> 00:00:54,880 Speaker 1: to make this comment after last year's wildcard loss to 19 00:00:54,960 --> 00:00:57,960 Speaker 1: the Green Bay Packers. Everybody knows he's a gifted player, 20 00:00:58,040 --> 00:01:00,440 Speaker 1: but there's there's some things that that he's on and 21 00:01:01,240 --> 00:01:05,399 Speaker 1: uh that he needs to look at himself in the 22 00:01:05,400 --> 00:01:08,240 Speaker 1: mirror and be honest with himself about it. Now we're 23 00:01:08,319 --> 00:01:11,399 Speaker 1: learning that Beckham has signed the biggest shoe deal ever 24 00:01:11,800 --> 00:01:14,720 Speaker 1: given to an NFL player, Scott, we kind of call 25 00:01:14,840 --> 00:01:17,960 Speaker 1: this the Lordy money. Well, let me tell you this 26 00:01:18,040 --> 00:01:20,240 Speaker 1: is how I judge things. This is a very personal 27 00:01:20,280 --> 00:01:23,640 Speaker 1: way of doing it. But I look at the playground 28 00:01:23,720 --> 00:01:26,800 Speaker 1: where my son goes to elementary school. Now that really 29 00:01:26,840 --> 00:01:30,720 Speaker 1: tells me what's capturing the imagination of kids. All those 30 00:01:30,800 --> 00:01:32,800 Speaker 1: kids want to be Oh b J. They know him. 31 00:01:33,000 --> 00:01:37,440 Speaker 1: They're practicing one handed catches. They have his jersey, some 32 00:01:37,720 --> 00:01:41,840 Speaker 1: like mine, have his hair cut. He's cool, he resonates 33 00:01:42,040 --> 00:01:47,400 Speaker 1: he can reach young fans. That is exactly what all 34 00:01:47,480 --> 00:01:50,360 Speaker 1: of the company's night like Nike as well as the 35 00:01:50,400 --> 00:01:53,240 Speaker 1: sports leagues, are trying to do. He signed a deal 36 00:01:53,280 --> 00:01:57,200 Speaker 1: with NIKEE for forty eight million dollars over eight years. 37 00:01:57,440 --> 00:02:00,280 Speaker 1: And as you said, that's right. Everybody wants to be 38 00:02:00,480 --> 00:02:04,919 Speaker 1: like Odell Beckham Jr. And I enjoy that the kids 39 00:02:05,120 --> 00:02:08,600 Speaker 1: are taking some interest in sports. But that's a lot 40 00:02:08,639 --> 00:02:11,400 Speaker 1: of money for old Well, it's worth it to keep 41 00:02:11,440 --> 00:02:15,360 Speaker 1: him away from other companies. He's the Let's make this analogy. Ready, 42 00:02:15,480 --> 00:02:19,800 Speaker 1: He's the Steph Curry of football. He's cool, the kids 43 00:02:19,800 --> 00:02:23,920 Speaker 1: want to be him. Signature play, it's highlight reel. He's 44 00:02:23,960 --> 00:02:28,240 Speaker 1: the Steph Curry of football. Also in the headlines this week, 45 00:02:28,280 --> 00:02:30,959 Speaker 1: a new cheering section at Yankee Stadium for one of 46 00:02:31,000 --> 00:02:36,240 Speaker 1: their newest and youngest sluggers that his judgment day. Aaron 47 00:02:36,440 --> 00:02:39,639 Speaker 1: is Judge and Jury. He sends our home run to 48 00:02:39,720 --> 00:02:46,000 Speaker 1: the netting and Monument Park. Two run, mighty blast. That's 49 00:02:46,080 --> 00:02:47,960 Speaker 1: John Sterling with the call on the New York Yankees 50 00:02:48,040 --> 00:02:50,919 Speaker 1: Radio network following a home run from Aaron Judge, who 51 00:02:50,960 --> 00:02:53,840 Speaker 1: now has a section in the stadium named after him. 52 00:02:54,880 --> 00:02:58,280 Speaker 1: Here come the Judge. I still like that. That's very 53 00:02:58,320 --> 00:03:02,200 Speaker 1: Do you have to say it better than that? Sammy 54 00:03:02,280 --> 00:03:10,240 Speaker 1: Davis all eyes? But you know, with Aaron Judge, and 55 00:03:10,320 --> 00:03:14,720 Speaker 1: I regret this in my fantasy baseball league. I didn't 56 00:03:14,720 --> 00:03:18,000 Speaker 1: see Aaron Judge coming at all. And this young man 57 00:03:18,360 --> 00:03:20,200 Speaker 1: has been knocking it out of the park. Now. He's 58 00:03:20,200 --> 00:03:21,960 Speaker 1: an enormous guy. By the way, what is he like? 59 00:03:22,480 --> 00:03:26,720 Speaker 1: Seven huge guy? So and and I mean pictures have 60 00:03:26,840 --> 00:03:28,560 Speaker 1: to say it's like, what am I doing for the 61 00:03:28,560 --> 00:03:31,480 Speaker 1: strike zone here? Well? Yeah, that's on field, but off 62 00:03:31,520 --> 00:03:33,799 Speaker 1: the field, the Yankees didn't see this coming either, which 63 00:03:33,840 --> 00:03:37,440 Speaker 1: is why now they're starting to make special sections for him, 64 00:03:37,480 --> 00:03:41,400 Speaker 1: capitalizing on things like, oh, empty seats. So we're talking 65 00:03:41,400 --> 00:03:43,880 Speaker 1: about the Yankees and a little problem they're having with 66 00:03:43,920 --> 00:03:47,560 Speaker 1: empty seats. Listen, the Yankees have had a problem drawing 67 00:03:47,640 --> 00:03:49,880 Speaker 1: fans to the new stadium since they put it up. 68 00:03:49,880 --> 00:03:52,240 Speaker 1: They cut the prices of the premier seats in that 69 00:03:52,400 --> 00:03:55,280 Speaker 1: very first season. They need to find a way, as 70 00:03:55,360 --> 00:03:58,480 Speaker 1: Randy Levin told us on this program, to connect with 71 00:03:58,680 --> 00:04:01,440 Speaker 1: young fans. There's that leennial thing again. And that's a 72 00:04:01,480 --> 00:04:04,800 Speaker 1: good instagram shot in that judge section, and a lot 73 00:04:04,840 --> 00:04:09,960 Speaker 1: of people don't. I like that, John Sting. It is high, 74 00:04:10,440 --> 00:04:18,320 Speaker 1: it is far, it's called. And we also got a 75 00:04:18,400 --> 00:04:20,760 Speaker 1: rule change from the NFL this week, commissioned at Roger 76 00:04:20,839 --> 00:04:24,080 Speaker 1: Goodell made the announcement on Tuesday. We spent a majority 77 00:04:24,120 --> 00:04:26,880 Speaker 1: of our time today at least this morning on the 78 00:04:26,920 --> 00:04:31,200 Speaker 1: Competition committee matters. Uh. Probably the one that's gotten the 79 00:04:31,200 --> 00:04:37,120 Speaker 1: most attention is the change to our celebration rules. Now, 80 00:04:37,120 --> 00:04:39,479 Speaker 1: it doesn't mean that they can twerk in the NFL 81 00:04:40,000 --> 00:04:42,800 Speaker 1: in the end zone, but thank goodness, at least some 82 00:04:42,839 --> 00:04:45,200 Speaker 1: of the teammates can come, they can give high fives 83 00:04:45,279 --> 00:04:48,160 Speaker 1: and whatever. Just listening to Roger, you think he could 84 00:04:48,200 --> 00:04:51,440 Speaker 1: have made that a little more fun. Roger should have 85 00:04:51,480 --> 00:04:54,640 Speaker 1: spiked the ball and said this is okay and something isn't. 86 00:04:54,839 --> 00:04:57,000 Speaker 1: Because you know what they used to call the NFL 87 00:04:57,080 --> 00:05:01,839 Speaker 1: what they were dubbed the no fun league. That resonated 88 00:05:01,920 --> 00:05:04,160 Speaker 1: within the walls of headquarters. They did not like that 89 00:05:04,240 --> 00:05:08,960 Speaker 1: because then that reputation hits advertisers, hits fans. They understand 90 00:05:09,080 --> 00:05:10,960 Speaker 1: they like everybody else, this is what we're talking about, 91 00:05:10,960 --> 00:05:15,200 Speaker 1: Aaron Judge it to section. This is about getting young 92 00:05:15,680 --> 00:05:18,640 Speaker 1: fans engaged with your product. And if people like to 93 00:05:18,680 --> 00:05:21,800 Speaker 1: see celebrations, then let them have it. Well, that's what 94 00:05:21,880 --> 00:05:23,839 Speaker 1: the game is supposed to be all about. Is supposed 95 00:05:23,839 --> 00:05:28,200 Speaker 1: to be about having fun. This is entertainment. So what's 96 00:05:28,240 --> 00:05:33,719 Speaker 1: wrong with seeing some folks being celebratory in the end 97 00:05:33,839 --> 00:05:37,080 Speaker 1: zone which I kind of like his seely celebration there 98 00:05:37,360 --> 00:05:40,560 Speaker 1: don't do, uh Gronkowski where you try to dunk the 99 00:05:40,600 --> 00:05:44,640 Speaker 1: ball and then you mess the whole end zone goal 100 00:05:44,720 --> 00:05:48,440 Speaker 1: post all he knocked at Askew one time. Lambouli, Baby Lambouli. 101 00:05:49,240 --> 00:05:52,000 Speaker 1: Today we welcome Milwaukee Bucks co owner Mark Lazarie to 102 00:05:52,000 --> 00:05:54,720 Speaker 1: the Bloomberg Business of Sports studios. Mark is also the 103 00:05:54,760 --> 00:05:58,000 Speaker 1: chairman and CEO of Avenue Capital Management, the investment management 104 00:05:58,000 --> 00:06:00,919 Speaker 1: company he founded more than a decade ago. In April, 105 00:06:01,839 --> 00:06:04,520 Speaker 1: he became co owner of the Bucks after purchasing the 106 00:06:04,560 --> 00:06:08,479 Speaker 1: team from Herb Cole for five fifty million dollars, and 107 00:06:08,520 --> 00:06:12,799 Speaker 1: we're pleased to have him on Bloomberg Business of Sports today. Mark. 108 00:06:13,440 --> 00:06:16,440 Speaker 1: I can always tell how a pro sports team is 109 00:06:16,480 --> 00:06:18,960 Speaker 1: doing by looking at the standings. And it's funny when 110 00:06:18,960 --> 00:06:21,400 Speaker 1: I say to owners, how you doing, they always tell 111 00:06:21,440 --> 00:06:24,320 Speaker 1: me how the team is doing. On the floor. I'm like, no, no, no, 112 00:06:24,360 --> 00:06:27,560 Speaker 1: how are you doing? It's like no separation. But I 113 00:06:27,600 --> 00:06:29,480 Speaker 1: can't tell how the team is doing from a business 114 00:06:29,480 --> 00:06:32,839 Speaker 1: perspective that has to come from you. How are the 115 00:06:32,839 --> 00:06:38,800 Speaker 1: Milwaukee Bucks doing? Team is doing great? And uh, I think, um, 116 00:06:38,800 --> 00:06:42,200 Speaker 1: you know, as a business, it's actually doing pretty well. Um. 117 00:06:42,240 --> 00:06:44,560 Speaker 1: I think. I think what ended up happening with the 118 00:06:44,640 --> 00:06:49,880 Speaker 1: new agreement, new cb A, the new TV deal. So 119 00:06:50,520 --> 00:06:52,280 Speaker 1: when we look at what's going to happen over the 120 00:06:52,360 --> 00:06:55,800 Speaker 1: next couple of years, um, I think everything and the 121 00:06:55,839 --> 00:06:58,880 Speaker 1: new arena that we're building. I think everything actually looks 122 00:06:58,880 --> 00:07:03,160 Speaker 1: pretty positive. You've what the team in fifty million dollars, 123 00:07:03,800 --> 00:07:06,360 Speaker 1: believe it or not. That raised my eyebrows. More than 124 00:07:06,400 --> 00:07:09,840 Speaker 1: two billion for the Clippers. That was the one people 125 00:07:09,880 --> 00:07:12,080 Speaker 1: looked at and said, WHOA, this has gotten out of control. 126 00:07:13,680 --> 00:07:16,280 Speaker 1: How has it gone since then? What were the metrics 127 00:07:16,320 --> 00:07:18,760 Speaker 1: for the team then and where are they now? Look 128 00:07:18,760 --> 00:07:21,520 Speaker 1: I think then, because I think we paid the most 129 00:07:21,520 --> 00:07:24,680 Speaker 1: for any basketball team, and then what was odd was 130 00:07:24,800 --> 00:07:26,320 Speaker 1: it was the most for any basketball team and it 131 00:07:26,360 --> 00:07:30,800 Speaker 1: was actually the worst team in the NBA that year. Um. 132 00:07:31,000 --> 00:07:33,680 Speaker 1: I I think when we had looked at it, we 133 00:07:33,880 --> 00:07:37,440 Speaker 1: thought you were also getting a media company and that 134 00:07:37,520 --> 00:07:39,600 Speaker 1: you were going to have your new TV contract in 135 00:07:39,600 --> 00:07:43,880 Speaker 1: the next couple of years. UM. So we thought what 136 00:07:43,960 --> 00:07:46,080 Speaker 1: was a record price at the time would end up 137 00:07:46,080 --> 00:07:48,960 Speaker 1: being a reasonable price within a couple of years. And 138 00:07:49,000 --> 00:07:51,880 Speaker 1: the opportunity to buy teams just don't come along that often. 139 00:07:52,680 --> 00:07:56,000 Speaker 1: So I think from a business perspective, what we thought 140 00:07:56,120 --> 00:07:58,960 Speaker 1: was going to happen ended up happening. And the big 141 00:07:59,040 --> 00:08:02,600 Speaker 1: question was would we able two would we be able 142 00:08:02,640 --> 00:08:05,920 Speaker 1: to build a new stadium? And I think with the 143 00:08:05,920 --> 00:08:08,880 Speaker 1: city of Milwaukee and the state, we're able to work 144 00:08:08,880 --> 00:08:11,480 Speaker 1: out a deal. Um. I think again in record time, 145 00:08:11,560 --> 00:08:15,520 Speaker 1: literally within a year, um to UM start building that 146 00:08:15,560 --> 00:08:19,440 Speaker 1: new arena, and that's going exceptionally well. So it's turned 147 00:08:19,480 --> 00:08:21,800 Speaker 1: out to be great. Yes, you want a team to 148 00:08:21,880 --> 00:08:24,560 Speaker 1: do well in the standings, but it seems to me 149 00:08:24,600 --> 00:08:27,040 Speaker 1: as an owner, you want the fans to have a 150 00:08:27,040 --> 00:08:30,880 Speaker 1: good experience coming to the game, meaning yes, we're enjoying 151 00:08:30,880 --> 00:08:34,040 Speaker 1: the game, we're also having a good time, and that 152 00:08:34,080 --> 00:08:38,480 Speaker 1: translates into lack of a better term, profits was what 153 00:08:38,559 --> 00:08:42,280 Speaker 1: is at least what it seems anyway, Yeah, to an extent, 154 00:08:42,360 --> 00:08:45,800 Speaker 1: I mean you're you're right, But the primary goal when 155 00:08:45,800 --> 00:08:47,680 Speaker 1: you end up I think when you end up buying 156 00:08:47,720 --> 00:08:50,440 Speaker 1: a team, you you sort of become a bit of 157 00:08:50,440 --> 00:08:54,720 Speaker 1: a steward, right You You want to end up putting 158 00:08:54,720 --> 00:08:56,600 Speaker 1: out a great product, and really what that means is 159 00:08:56,600 --> 00:09:00,040 Speaker 1: you're going to try to win a championship. And you 160 00:09:01,240 --> 00:09:03,120 Speaker 1: in the beginning, I think you look at and say, well, 161 00:09:03,160 --> 00:09:06,199 Speaker 1: I hope I end up making money, and very quickly 162 00:09:06,800 --> 00:09:09,400 Speaker 1: you end up saying, Okay, I really want to win 163 00:09:09,440 --> 00:09:12,800 Speaker 1: a championship. I really want to win, and that drive 164 00:09:13,600 --> 00:09:17,160 Speaker 1: overwhelms I think all the other concerns, and you sort 165 00:09:17,200 --> 00:09:20,080 Speaker 1: of see that. I mean, you see it this year 166 00:09:20,120 --> 00:09:24,480 Speaker 1: with Cleveland. Cleveland ended up putting out a team where 167 00:09:24,480 --> 00:09:27,360 Speaker 1: they went over the salary cap and where they're gonna 168 00:09:27,360 --> 00:09:30,680 Speaker 1: lose money. Um, but the reason they're doing that is 169 00:09:30,679 --> 00:09:33,880 Speaker 1: because ownership wants to end up winning a championship. Take 170 00:09:33,960 --> 00:09:37,320 Speaker 1: me back in your basketball history, what did you watch? 171 00:09:37,320 --> 00:09:39,120 Speaker 1: Who did your root for? I love when David Stern 172 00:09:39,200 --> 00:09:41,320 Speaker 1: used to say he'd be cutting meat and his father's deli, 173 00:09:41,360 --> 00:09:44,240 Speaker 1: and Chelsea rooting for Harry the Horse, Gallaton and the Knicks. 174 00:09:44,840 --> 00:09:48,160 Speaker 1: You've seen a few games in Madison Square, guarden yourself. Yeah, 175 00:09:48,200 --> 00:09:51,000 Speaker 1: I grew up in Hartford, so in the beginning, you're 176 00:09:52,200 --> 00:09:55,600 Speaker 1: a Celtics fan because you were there and they were 177 00:09:55,640 --> 00:09:57,840 Speaker 1: winning and it was great. And then when I moved 178 00:09:57,880 --> 00:10:02,120 Speaker 1: to New York, um, I ended up becoming a Knicks fan. 179 00:10:02,880 --> 00:10:06,200 Speaker 1: And I was always a basketball fan if all the 180 00:10:06,240 --> 00:10:09,160 Speaker 1: teams in the league were for sale, because the Clippers 181 00:10:09,160 --> 00:10:10,960 Speaker 1: came on the market right after you guys had bought 182 00:10:11,000 --> 00:10:13,520 Speaker 1: the Bucks unexpectedly. And I remember saying to myself, always 183 00:10:13,559 --> 00:10:16,920 Speaker 1: kicking himself, it's just l a which team would you want? 184 00:10:17,960 --> 00:10:21,120 Speaker 1: I think what you'd like, I actually love owning the Bucks, 185 00:10:21,200 --> 00:10:24,400 Speaker 1: and I think what you really want is you'd like 186 00:10:24,520 --> 00:10:28,680 Speaker 1: to be closer, right, I think you part of the 187 00:10:28,679 --> 00:10:31,679 Speaker 1: fun of owning a franchise is being part of the community, 188 00:10:32,040 --> 00:10:34,480 Speaker 1: and so I try to go out there quite a bit. 189 00:10:35,360 --> 00:10:39,640 Speaker 1: It's I think, you know, to me, you want to 190 00:10:39,640 --> 00:10:42,880 Speaker 1: own a team and you want to be in the area. 191 00:10:43,080 --> 00:10:45,920 Speaker 1: So I believe or not, when the Clippers came up, 192 00:10:46,679 --> 00:10:48,880 Speaker 1: I would have had no interest in buying that team 193 00:10:49,160 --> 00:10:52,600 Speaker 1: simply because you're not gonna go five hours to go watch, right. 194 00:10:52,679 --> 00:10:55,480 Speaker 1: It's you really want to be there every night, and 195 00:10:55,679 --> 00:10:57,559 Speaker 1: you want to be with the fans, and you want 196 00:10:57,559 --> 00:10:59,760 Speaker 1: to be with the community, and you want to be 197 00:10:59,800 --> 00:11:03,040 Speaker 1: with your players. So I think it's just you want 198 00:11:03,040 --> 00:11:06,360 Speaker 1: to be there. Can you expand on Milwaukee as a 199 00:11:06,480 --> 00:11:09,440 Speaker 1: sports town and why it is a good sports down 200 00:11:10,120 --> 00:11:13,160 Speaker 1: You know, the people are great, it really is. It's um. 201 00:11:13,320 --> 00:11:16,320 Speaker 1: I always tell this little story, but it's really sort 202 00:11:16,320 --> 00:11:17,839 Speaker 1: of goes the heart of it. We have opening night 203 00:11:18,880 --> 00:11:22,720 Speaker 1: and I've court side seats, so I'm there my wife 204 00:11:22,760 --> 00:11:25,079 Speaker 1: and a couple of my kids, and we're sitting down 205 00:11:25,920 --> 00:11:29,200 Speaker 1: and after about five minutes, somebody taps me on the 206 00:11:29,200 --> 00:11:33,480 Speaker 1: shoulder and says, excuse me, Mr last three, I think 207 00:11:33,520 --> 00:11:37,520 Speaker 1: you're sitting in my seats. I hope it was West 208 00:11:38,960 --> 00:11:41,400 Speaker 1: and it's you know, one of the people had bought 209 00:11:41,440 --> 00:11:44,840 Speaker 1: somebody who had bought tickets also, and I go, I 210 00:11:44,880 --> 00:11:47,960 Speaker 1: am so sorry. Are you sure? He goes I'm pretty sure. 211 00:11:47,960 --> 00:11:49,440 Speaker 1: And I look at my ticket and I was sitting 212 00:11:50,000 --> 00:11:51,680 Speaker 1: four seats a way. There were a couple of seats 213 00:11:51,720 --> 00:11:55,360 Speaker 1: empty further down. So I would have loved to seen 214 00:11:55,440 --> 00:11:59,800 Speaker 1: Usher drag him out. No, So I I apologize. And 215 00:12:01,080 --> 00:12:03,600 Speaker 1: you know that's in Milwaukee. How long do you think 216 00:12:03,600 --> 00:12:05,920 Speaker 1: it would have been in New York City? And it 217 00:12:05,960 --> 00:12:08,480 Speaker 1: wouldn't like it would have been before the game started. 218 00:12:08,559 --> 00:12:11,200 Speaker 1: It wouldn't have been five minutes into it. And I 219 00:12:11,240 --> 00:12:14,320 Speaker 1: was like, I apologize, it's okay. You know, we didn't 220 00:12:14,320 --> 00:12:16,000 Speaker 1: want to disturb you. You looked like you were having 221 00:12:16,040 --> 00:12:19,640 Speaker 1: a good time. And I would tell you that's what 222 00:12:19,720 --> 00:12:23,480 Speaker 1: I love about the city. Everybody is so nice. They 223 00:12:23,720 --> 00:12:25,640 Speaker 1: you know, they love the fact that you've come and 224 00:12:25,720 --> 00:12:29,360 Speaker 1: you're trying to build really a franchise and you're trying 225 00:12:29,360 --> 00:12:31,960 Speaker 1: to become part of the community. Um, and they're like 226 00:12:32,000 --> 00:12:34,120 Speaker 1: the best fans. I mean, they really are. And look, 227 00:12:34,120 --> 00:12:36,000 Speaker 1: and I'm sure everybody says that about sort of where 228 00:12:36,040 --> 00:12:39,880 Speaker 1: they you know where they are, but um, I love 229 00:12:39,920 --> 00:12:43,040 Speaker 1: going there. My son lives out there, you know, he helped, 230 00:12:43,120 --> 00:12:45,960 Speaker 1: he works for the team. So, um, we've made in 231 00:12:45,960 --> 00:12:49,040 Speaker 1: Milwaukee or second home. Is it easier to satisfy a 232 00:12:49,080 --> 00:12:51,280 Speaker 1: fan base that hasn't had a lot to root for 233 00:12:51,400 --> 00:12:53,440 Speaker 1: in a while? I mean, like, like you said, when 234 00:12:53,440 --> 00:12:55,800 Speaker 1: you bought the team, it wasn't exactly a contender. No. 235 00:12:55,920 --> 00:12:58,800 Speaker 1: I think I think what every fan base wants, I 236 00:12:58,840 --> 00:13:03,080 Speaker 1: would tell you is at they believe ownership is doing 237 00:13:03,120 --> 00:13:06,600 Speaker 1: the right thing. That's really you know, when you're what 238 00:13:06,720 --> 00:13:08,600 Speaker 1: I love is when I was a fan, you'd always 239 00:13:08,640 --> 00:13:11,920 Speaker 1: be screaming if you did this, if you do that right. 240 00:13:12,200 --> 00:13:15,040 Speaker 1: And um, once you become an own and you're like whoa, 241 00:13:15,360 --> 00:13:18,920 Speaker 1: it's a little more complicated. But I think I think 242 00:13:18,960 --> 00:13:21,080 Speaker 1: the reason we've had success is we tell everybody what 243 00:13:21,120 --> 00:13:23,360 Speaker 1: we're trying to do right and and I think if 244 00:13:23,360 --> 00:13:25,600 Speaker 1: the fans believe that, they'll give you as much time 245 00:13:25,640 --> 00:13:28,439 Speaker 1: as you need. If they don't believe it, then they 246 00:13:28,480 --> 00:13:31,400 Speaker 1: start getting upset, and what you know, then obviously you 247 00:13:31,440 --> 00:13:33,640 Speaker 1: just have to win. You can make a bad move, 248 00:13:33,679 --> 00:13:35,920 Speaker 1: but you're saying the transparency. At least you're explaining, and 249 00:13:35,920 --> 00:13:37,960 Speaker 1: they're more accepting. Yeah, I think I think if we've 250 00:13:38,000 --> 00:13:40,959 Speaker 1: made a bad move, um, we'll say it. Well, so look, 251 00:13:41,000 --> 00:13:42,920 Speaker 1: I think we made a mistake because you sort of 252 00:13:42,960 --> 00:13:45,120 Speaker 1: see it pretty quickly. I mean, you know when you 253 00:13:45,200 --> 00:13:47,040 Speaker 1: do something right and when you do something wrong. I 254 00:13:47,080 --> 00:13:48,760 Speaker 1: think in the last couple of years, we've done a 255 00:13:48,760 --> 00:13:51,760 Speaker 1: bunch of things that I would redo, and we've and 256 00:13:51,800 --> 00:13:54,640 Speaker 1: I think we've made some really good decisions for example, 257 00:13:55,400 --> 00:13:57,360 Speaker 1: you know. I I think part of it is just, 258 00:13:57,960 --> 00:14:00,920 Speaker 1: you know, we I think we learned when we ended 259 00:14:01,000 --> 00:14:04,200 Speaker 1: up having Zaza, who was on our team. I think 260 00:14:04,240 --> 00:14:07,679 Speaker 1: he actually was when we ended up trading him. I 261 00:14:07,679 --> 00:14:10,720 Speaker 1: think he would have been great because he he was 262 00:14:10,800 --> 00:14:13,760 Speaker 1: a veteran, and you started understanding the fact that you 263 00:14:13,840 --> 00:14:16,760 Speaker 1: need individuals who hold that team together, who are actually 264 00:14:16,840 --> 00:14:20,600 Speaker 1: very important. Um. And it's much more about sort of 265 00:14:20,640 --> 00:14:24,440 Speaker 1: creating a chemistry as opposed to sort of Okay, is 266 00:14:24,480 --> 00:14:26,600 Speaker 1: this player really good or is that player really good. 267 00:14:26,800 --> 00:14:29,680 Speaker 1: I remember as a kid, I would grab a basketball 268 00:14:29,680 --> 00:14:31,960 Speaker 1: and I'd go out on the court or whatever, and 269 00:14:32,000 --> 00:14:34,640 Speaker 1: I grab my friends and we were playing basketball, and 270 00:14:34,680 --> 00:14:37,680 Speaker 1: now everybody's playing a video game of it. I'm wondering 271 00:14:37,680 --> 00:14:40,960 Speaker 1: if we need to get back as a society to 272 00:14:41,000 --> 00:14:43,640 Speaker 1: get our kids out there just to play basketball, to 273 00:14:43,720 --> 00:14:46,360 Speaker 1: help generate more interest in the sport. Yeah, I mean 274 00:14:46,360 --> 00:14:50,280 Speaker 1: you're you're talking about societal issues. I mean it's like 275 00:14:50,440 --> 00:14:53,080 Speaker 1: when you and I were kids, you left in the morning, 276 00:14:53,120 --> 00:14:55,480 Speaker 1: you came back at night. If your kid did that today, 277 00:14:56,120 --> 00:14:59,280 Speaker 1: you'd have a heart attack. I mean, it just it's 278 00:14:59,280 --> 00:15:02,520 Speaker 1: not forget games. I mean the idea that you don't 279 00:15:02,560 --> 00:15:05,720 Speaker 1: know where your children are all the time, and the 280 00:15:05,760 --> 00:15:09,360 Speaker 1: idea that you would just go out. I think that's changed. 281 00:15:09,360 --> 00:15:12,760 Speaker 1: And I think parents today, um, if they want to 282 00:15:12,800 --> 00:15:15,120 Speaker 1: go take their kids to go play basketball, they'll go 283 00:15:15,160 --> 00:15:18,400 Speaker 1: watch them play. The idea that you could just go 284 00:15:18,440 --> 00:15:20,720 Speaker 1: out and do that, I think that's changed a lot now. 285 00:15:21,000 --> 00:15:23,200 Speaker 1: I think that's what's happened. But yeah, you look at 286 00:15:23,200 --> 00:15:29,640 Speaker 1: the players today and they are faster, quicker, stronger. I know, 287 00:15:29,880 --> 00:15:32,480 Speaker 1: people get upset, but better I think than sort of 288 00:15:32,480 --> 00:15:35,040 Speaker 1: players were ten years ago or players were twenty years ago. 289 00:15:35,120 --> 00:15:39,520 Speaker 1: It's amazing to me the development and how people are. 290 00:15:39,560 --> 00:15:42,320 Speaker 1: I mean, look at Janice, You've got a six eleven 291 00:15:42,360 --> 00:15:45,320 Speaker 1: point guard. I mean, you couldn't even have fathomed that 292 00:15:46,160 --> 00:15:49,440 Speaker 1: his last name for us to compos the speller's last 293 00:15:49,480 --> 00:15:52,000 Speaker 1: name for us. I'm not gonna I don't even spell it. 294 00:15:52,040 --> 00:15:55,360 Speaker 1: I can say it was glad you did it. I 295 00:15:55,360 --> 00:15:57,920 Speaker 1: didn't want to have to do it. For those who 296 00:15:57,920 --> 00:15:59,320 Speaker 1: know the Greek freak, I mean, he's got a great 297 00:15:59,360 --> 00:16:00,960 Speaker 1: nickname in the Greek he does. He's a great and 298 00:16:00,960 --> 00:16:02,920 Speaker 1: he's a great kid. He really is. You need a 299 00:16:02,920 --> 00:16:05,440 Speaker 1: star in the NBA. It's a star driven league. You 300 00:16:05,520 --> 00:16:09,600 Speaker 1: need two to three stars. You do, and it's just 301 00:16:09,640 --> 00:16:12,560 Speaker 1: hard because the talent has gotten so good. And you 302 00:16:12,600 --> 00:16:14,440 Speaker 1: see that, and you see the teams that are actually 303 00:16:14,480 --> 00:16:17,440 Speaker 1: progressing to the finals are actually the teams that have 304 00:16:17,600 --> 00:16:20,400 Speaker 1: sort of two or three all stars. Let's delve a 305 00:16:20,440 --> 00:16:23,920 Speaker 1: little bit into what you said. The media opportunities you 306 00:16:23,960 --> 00:16:26,080 Speaker 1: looked at as a media play has to be something. 307 00:16:26,080 --> 00:16:28,200 Speaker 1: The team's a ten pole for real estate play. You've 308 00:16:28,240 --> 00:16:29,760 Speaker 1: got that in the arena as well. We'll get back 309 00:16:29,760 --> 00:16:32,120 Speaker 1: to that. But the media side of it, Let's say, 310 00:16:32,160 --> 00:16:35,880 Speaker 1: like Michael talked about video games, that's a way to 311 00:16:36,000 --> 00:16:38,880 Speaker 1: engage fans these days. I mean, everyone with their cell 312 00:16:38,920 --> 00:16:41,880 Speaker 1: phone and the wired arenas they're doing, whether it's daily 313 00:16:41,920 --> 00:16:45,480 Speaker 1: fantasy and perhaps live sports betting coming to these arenas. 314 00:16:45,800 --> 00:16:48,160 Speaker 1: This is all engagement and I think it drives interest 315 00:16:48,200 --> 00:16:51,760 Speaker 1: in the league and most importantly globally, I think it does. 316 00:16:51,960 --> 00:16:54,360 Speaker 1: I think the sports is going to become a big 317 00:16:54,400 --> 00:16:56,120 Speaker 1: part of what we do. I think the NBA is 318 00:16:56,160 --> 00:16:59,680 Speaker 1: starting that. Somebody came to us with an app that's 319 00:17:00,400 --> 00:17:04,560 Speaker 1: on your phone. When a player shoots before while the 320 00:17:04,600 --> 00:17:07,680 Speaker 1: ball is in the air, he will that app will 321 00:17:07,680 --> 00:17:10,680 Speaker 1: tell you whether it's going to go in or it's 322 00:17:10,680 --> 00:17:12,919 Speaker 1: gonna be a rebound to the right or rebound to 323 00:17:12,960 --> 00:17:15,040 Speaker 1: the left. David Sternon might be an investor in this. 324 00:17:15,280 --> 00:17:17,119 Speaker 1: It's reads the spin of the ball, the ark of 325 00:17:17,160 --> 00:17:20,000 Speaker 1: the the ark of the ball. That's exactly right. And 326 00:17:20,080 --> 00:17:21,679 Speaker 1: so they came to us and said you want that. 327 00:17:22,680 --> 00:17:25,359 Speaker 1: I was like, wow, it's you know, I get fan engagement. 328 00:17:25,440 --> 00:17:27,960 Speaker 1: It will be great, Like what are you talking about. 329 00:17:27,960 --> 00:17:31,600 Speaker 1: That means instead of watching the game, I'm watching my 330 00:17:31,680 --> 00:17:35,119 Speaker 1: phone to see so I can know half a second 331 00:17:35,119 --> 00:17:37,800 Speaker 1: earlier whether that ball is going in or not. Everybody's 332 00:17:37,840 --> 00:17:39,840 Speaker 1: going a little bit too much of the technology side. 333 00:17:39,840 --> 00:17:42,680 Speaker 1: I think there is you know. My view is, look, 334 00:17:42,680 --> 00:17:46,080 Speaker 1: it's the game. You want to watch the game, and 335 00:17:46,119 --> 00:17:51,040 Speaker 1: what people love is close games. Right. You only love 336 00:17:51,080 --> 00:17:53,840 Speaker 1: a game where it's sort of a blowout when you're 337 00:17:53,880 --> 00:17:56,280 Speaker 1: the home team, right and you're blowing somebody out. But 338 00:17:56,640 --> 00:17:58,919 Speaker 1: if you're watching on TV, you want to watch a 339 00:17:58,960 --> 00:18:01,880 Speaker 1: close game. And I think there's gonna be a lot 340 00:18:01,920 --> 00:18:04,720 Speaker 1: more technology, and we try to do that in the arena. 341 00:18:04,920 --> 00:18:07,840 Speaker 1: But ultimately, I think if what you have is a 342 00:18:07,880 --> 00:18:09,960 Speaker 1: great product and a great team out there, people come. 343 00:18:10,200 --> 00:18:13,080 Speaker 1: We're speaking with Milwaukee Bucks co owner Mark Lassarie, who's 344 00:18:13,080 --> 00:18:16,680 Speaker 1: also the chairman and CEO of Avenue Capital Management, and Mark, 345 00:18:16,760 --> 00:18:19,880 Speaker 1: how do you feel about technologies rolled in the NBA, 346 00:18:20,119 --> 00:18:24,640 Speaker 1: things like virtual reality glasses? And we've gotten to technologically 347 00:18:24,640 --> 00:18:28,520 Speaker 1: advanced or too dependent on technology? Look, I think so, 348 00:18:28,640 --> 00:18:31,760 Speaker 1: But again that's actually the reason why you have a 349 00:18:31,760 --> 00:18:34,640 Speaker 1: bunch of young kids who work for you, because I think, 350 00:18:35,320 --> 00:18:38,040 Speaker 1: you know, I like the beauty of the game, and 351 00:18:39,440 --> 00:18:43,639 Speaker 1: I think that's what people enjoy. But if we find 352 00:18:43,680 --> 00:18:46,600 Speaker 1: that people want to do that virtual reality and that 353 00:18:46,720 --> 00:18:51,400 Speaker 1: people want more, we'll end up doing that as well. Right, 354 00:18:51,400 --> 00:18:54,119 Speaker 1: But ultimately you're going to go from a business standpoint 355 00:18:54,600 --> 00:18:58,080 Speaker 1: where the market is right. So if you find that 356 00:18:58,200 --> 00:19:01,200 Speaker 1: the vast majority of people want to do the virtual reality, 357 00:19:01,320 --> 00:19:03,200 Speaker 1: then I think we'll end up doing a lot of that. 358 00:19:03,359 --> 00:19:05,680 Speaker 1: If we see that the majority want to watch the game, 359 00:19:05,760 --> 00:19:08,159 Speaker 1: then hopefully we're gonna make that experience better. But we 360 00:19:08,200 --> 00:19:10,960 Speaker 1: also have to talk about scalable media. Perhaps in the 361 00:19:11,000 --> 00:19:13,040 Speaker 1: arena is one thing, and you sure everyone wants the 362 00:19:13,080 --> 00:19:16,840 Speaker 1: Duke University student section engages at full fledged in the game, 363 00:19:17,480 --> 00:19:20,680 Speaker 1: But when we're talking technology, we're talking about the ability 364 00:19:20,760 --> 00:19:24,320 Speaker 1: to deliver these games on a global basis, not eighteen 365 00:19:24,359 --> 00:19:26,680 Speaker 1: thousand people in an arena forty one nights a year. 366 00:19:27,040 --> 00:19:29,360 Speaker 1: You want to sell this game in China and India, 367 00:19:29,400 --> 00:19:32,439 Speaker 1: and you want them paying for highlights, and that's where 368 00:19:32,520 --> 00:19:35,760 Speaker 1: perhaps the revenue play comes from on the global scale, 369 00:19:36,160 --> 00:19:38,080 Speaker 1: and it does, and I think I think our biggest 370 00:19:38,080 --> 00:19:40,440 Speaker 1: growth market, at least for the NBA has been China. 371 00:19:40,840 --> 00:19:44,560 Speaker 1: So I think you're absolutely right. Um, Look, the biggest 372 00:19:44,680 --> 00:19:49,560 Speaker 1: challenge for any team, not just basketball, but if you 373 00:19:49,600 --> 00:19:52,120 Speaker 1: sort of think about whether it's football, whether it's soccer, 374 00:19:52,320 --> 00:19:56,840 Speaker 1: whether it's baseball, and trying to sort of do this 375 00:19:57,040 --> 00:20:01,240 Speaker 1: outside is actually the time difference. Right, what everybody loves 376 00:20:01,760 --> 00:20:05,560 Speaker 1: is Live. I mean, um, just think about here in 377 00:20:05,600 --> 00:20:09,000 Speaker 1: the United States, if I tell you the score of 378 00:20:09,040 --> 00:20:11,520 Speaker 1: a game, are you going to go and watch it 379 00:20:11,640 --> 00:20:15,960 Speaker 1: on videotape? Kind of hard? Right, you already know what's happened. 380 00:20:16,200 --> 00:20:18,400 Speaker 1: Remember the old days where you fight, don't say to score? Yeah, 381 00:20:18,480 --> 00:20:22,879 Speaker 1: okay you can't. Nowadays it's impossible. Now it's impossible. So 382 00:20:22,880 --> 00:20:25,720 Speaker 1: so what ends up happening is because of that time difference, 383 00:20:26,720 --> 00:20:29,520 Speaker 1: UM in China where you're you know, if somebody's sort 384 00:20:29,560 --> 00:20:32,919 Speaker 1: of eight hours ahead. And what we're trying to do 385 00:20:33,200 --> 00:20:35,800 Speaker 1: is try to have more games where more people can 386 00:20:35,800 --> 00:20:39,280 Speaker 1: see them live, so that if you've got sort of 387 00:20:39,280 --> 00:20:42,040 Speaker 1: a three o'clock game here that's an eight o'clock game 388 00:20:42,320 --> 00:20:45,800 Speaker 1: in Europe. Is streaming going to be the answer down 389 00:20:45,840 --> 00:20:48,919 Speaker 1: the road as we get into watching not just a 390 00:20:48,960 --> 00:20:52,560 Speaker 1: game live, but watching a game period. I think there's 391 00:20:52,600 --> 00:20:54,800 Speaker 1: a lot of streaming. I mean I watch a lot 392 00:20:54,840 --> 00:20:59,120 Speaker 1: of games, a lot of our games on my NBA app, right, 393 00:20:59,200 --> 00:21:02,760 Speaker 1: So it's I think you you constantly are seeing that. 394 00:21:02,800 --> 00:21:05,280 Speaker 1: I think every year you're having more and more people 395 00:21:05,400 --> 00:21:08,040 Speaker 1: sign up for that, and you're having more and more 396 00:21:08,080 --> 00:21:11,840 Speaker 1: people do it. Um. Outside of the United States. So 397 00:21:12,320 --> 00:21:14,240 Speaker 1: I do think. I think our biggest growth margat right 398 00:21:14,280 --> 00:21:18,440 Speaker 1: now has been sort of Asia, China mainly uh than Europe. 399 00:21:19,160 --> 00:21:21,880 Speaker 1: Uh So the more people you get it, you get involved, 400 00:21:21,920 --> 00:21:24,520 Speaker 1: the better it is. We're chatting with Mark last week 401 00:21:24,560 --> 00:21:27,160 Speaker 1: going over the Milwaukee Bucks and Mark from a business perspective, 402 00:21:27,359 --> 00:21:32,000 Speaker 1: what took so long for someone to play both sides 403 00:21:32,920 --> 00:21:35,200 Speaker 1: of the game where it was either you were content 404 00:21:35,320 --> 00:21:38,760 Speaker 1: creator or distributor, and there was that which is more 405 00:21:38,840 --> 00:21:43,639 Speaker 1: valuable game? Then somebody said, wait, we can do both. 406 00:21:44,400 --> 00:21:50,119 Speaker 1: What took so long for Netflix to occur? I don't know. 407 00:21:50,480 --> 00:21:54,320 Speaker 1: I mean, it's you know, all this stuff is actually 408 00:21:54,320 --> 00:21:58,320 Speaker 1: pretty simple. It's shocking how long it all takes. You know. 409 00:21:58,400 --> 00:22:06,399 Speaker 1: There's um, an investor of mine created created uh Perier right, 410 00:22:06,480 --> 00:22:08,639 Speaker 1: and when he when he explains to you how he 411 00:22:08,720 --> 00:22:11,520 Speaker 1: did it, it's actually mind boggling. After World War Two, 412 00:22:12,480 --> 00:22:14,840 Speaker 1: UM he comes up with this idea that people in 413 00:22:14,920 --> 00:22:18,680 Speaker 1: restaurants wanted to show that they had money, but they 414 00:22:18,680 --> 00:22:22,119 Speaker 1: didn't have a lot of money. So what was the 415 00:22:22,200 --> 00:22:24,560 Speaker 1: one thing you could do to show that you had money? 416 00:22:25,000 --> 00:22:28,400 Speaker 1: Pay for water and if you had to this green 417 00:22:28,440 --> 00:22:31,919 Speaker 1: bottle on your table. Everybody knows that you're paying for water, 418 00:22:32,560 --> 00:22:35,360 Speaker 1: and he comes up with this idea that in essence, 419 00:22:35,359 --> 00:22:38,920 Speaker 1: I'm going to create this bottled water and people will 420 00:22:38,960 --> 00:22:41,399 Speaker 1: pay for it. And when you sort of look at 421 00:22:41,480 --> 00:22:43,800 Speaker 1: all these things that are there, the idea that you 422 00:22:43,800 --> 00:22:48,800 Speaker 1: should have content and you should be distributing it doesn't 423 00:22:48,840 --> 00:22:52,360 Speaker 1: seem that deep of a thought process, right, And yet 424 00:22:52,760 --> 00:22:56,400 Speaker 1: that's how it had been separated for so long. And 425 00:22:56,480 --> 00:22:58,800 Speaker 1: so that's sort of why, you know, for us, we 426 00:22:58,840 --> 00:23:00,040 Speaker 1: try to figure out what we want to create a 427 00:23:00,119 --> 00:23:03,040 Speaker 1: regional sports network? Right? Do we want to control our 428 00:23:03,080 --> 00:23:07,880 Speaker 1: own you know, distribute our content? And you know that's 429 00:23:07,880 --> 00:23:09,800 Speaker 1: one of the things we keep looking at. Where do 430 00:23:09,840 --> 00:23:13,800 Speaker 1: you stand on that RS and creation? What will be? Um? 431 00:23:13,840 --> 00:23:15,359 Speaker 1: I think we're still looking at it. We still have 432 00:23:15,400 --> 00:23:18,639 Speaker 1: a couple of years, and you know, to do something 433 00:23:18,640 --> 00:23:23,040 Speaker 1: on the rsn uh side. Um, you need to sort 434 00:23:23,040 --> 00:23:28,240 Speaker 1: of Um, you need more than just basketball. You brought 435 00:23:28,320 --> 00:23:31,400 Speaker 1: up a story about paying for water, and I brought 436 00:23:31,480 --> 00:23:34,240 Speaker 1: up a think about my father and our never will 437 00:23:34,280 --> 00:23:37,480 Speaker 1: forget when I first brought cable to the house. This 438 00:23:37,560 --> 00:23:40,400 Speaker 1: was like thirty some nine years ago. I said, Dad, 439 00:23:40,440 --> 00:23:44,360 Speaker 1: this is cable, and he said, are you stupid? We're 440 00:23:44,359 --> 00:23:47,600 Speaker 1: gonna pay for television. We got it for free right 441 00:23:47,640 --> 00:23:50,200 Speaker 1: here in the same thing he said for water. Now 442 00:23:51,200 --> 00:23:54,000 Speaker 1: you cannot get away from it. Which and I wonder 443 00:23:54,080 --> 00:23:59,879 Speaker 1: how sports is so entwined with cable? Uh? Is that 444 00:24:00,080 --> 00:24:04,240 Speaker 1: gonna be the norm from now on? So I don't know. 445 00:24:04,359 --> 00:24:07,480 Speaker 1: I think it's things are moving so fast. I mean 446 00:24:07,520 --> 00:24:10,800 Speaker 1: it really is. From where I saw things five years 447 00:24:10,800 --> 00:24:13,520 Speaker 1: ago and where they are today and where things maybe 448 00:24:13,600 --> 00:24:17,760 Speaker 1: five or ten years from now. Um, you just want 449 00:24:17,800 --> 00:24:19,240 Speaker 1: to be a part of it. You want to be 450 00:24:19,320 --> 00:24:23,560 Speaker 1: in there. And I think there's gonna be so many 451 00:24:23,560 --> 00:24:27,480 Speaker 1: more different opportunities, uh, for our team and for the 452 00:24:27,600 --> 00:24:32,280 Speaker 1: n b A that kay, just in what you can 453 00:24:32,320 --> 00:24:34,040 Speaker 1: do in Asia, what you can do in China, what 454 00:24:34,160 --> 00:24:37,280 Speaker 1: you can do in Europe. I think the possibilities are endless. 455 00:24:37,320 --> 00:24:39,479 Speaker 1: I mean they really are. Where do you see the 456 00:24:39,600 --> 00:24:44,720 Speaker 1: NBA in sort of thet foot view when compared to 457 00:24:44,760 --> 00:24:48,119 Speaker 1: the behemoth of the US, the NFL. Do we even 458 00:24:48,200 --> 00:24:52,000 Speaker 1: look at it as solely US anymore? Or is that 459 00:24:52,040 --> 00:24:54,880 Speaker 1: too late? You look, you're competing against soccer, you're competing 460 00:24:54,880 --> 00:24:59,800 Speaker 1: against movies globally. I think for us when we look 461 00:25:00,000 --> 00:25:04,119 Speaker 1: and the NBA, is that you're competing globally, right. I 462 00:25:04,119 --> 00:25:06,040 Speaker 1: think what you've got is a global brand. I think 463 00:25:06,040 --> 00:25:10,120 Speaker 1: our players are global, um, and you're I think you're 464 00:25:10,119 --> 00:25:14,440 Speaker 1: seeing that in all sports leagues, right. I think the 465 00:25:14,480 --> 00:25:18,439 Speaker 1: why has soccer taken off because the rest of the 466 00:25:18,440 --> 00:25:21,040 Speaker 1: world is playing it and you know you're either a 467 00:25:21,040 --> 00:25:25,800 Speaker 1: Manchester fan or you're a Chelsea fan. Um. What you 468 00:25:25,840 --> 00:25:29,520 Speaker 1: would love and I think that's starting to happen is 469 00:25:29,640 --> 00:25:33,159 Speaker 1: also outside because it is global um. You know, I 470 00:25:33,320 --> 00:25:38,480 Speaker 1: like going. I was in London for a meeting and 471 00:25:38,560 --> 00:25:42,240 Speaker 1: we went to a pub afterwards to watch um uh 472 00:25:42,440 --> 00:25:45,400 Speaker 1: soccer game and one of the guys at the pub 473 00:25:45,480 --> 00:25:49,719 Speaker 1: is wearing a Milwaukee Bucks jersey and I was like, 474 00:25:50,359 --> 00:25:52,040 Speaker 1: you know, we're up to him, why are you what 475 00:25:52,080 --> 00:25:55,360 Speaker 1: are you doing? Are you from Milwaukee? And he goes, now, 476 00:25:56,320 --> 00:25:58,679 Speaker 1: I'm Greek. I love the Greek free and that was 477 00:25:58,720 --> 00:26:00,720 Speaker 1: really it, and it was just, yeah, it wasn't It 478 00:26:00,800 --> 00:26:04,199 Speaker 1: wasn't anything more common, and I'm like, okay, um, and 479 00:26:04,240 --> 00:26:06,480 Speaker 1: you sort of and you're you're starting to see that 480 00:26:06,520 --> 00:26:08,480 Speaker 1: more and more. I mean it's you go to the 481 00:26:08,560 --> 00:26:12,440 Speaker 1: different arenas. What ends up happening is you'll see people 482 00:26:12,440 --> 00:26:15,760 Speaker 1: with Greek flags there and you know, because they're all 483 00:26:15,880 --> 00:26:20,080 Speaker 1: huge fans of Joanna's. The most entertaining basketball arena I've 484 00:26:20,119 --> 00:26:24,240 Speaker 1: ever seen was the World Championships in Indianapolis or whatever 485 00:26:24,280 --> 00:26:29,320 Speaker 1: how many years ago, because of the international fans waving flags, 486 00:26:29,400 --> 00:26:33,320 Speaker 1: beating drums up on their feet. I have yet to 487 00:26:33,520 --> 00:26:37,360 Speaker 1: see that atmosphere inside an NBA arena. Why is that 488 00:26:37,480 --> 00:26:40,600 Speaker 1: and why can't it be created? Um? I think you're 489 00:26:40,600 --> 00:26:42,920 Speaker 1: seeing it a little bit. I mean I've I've gone 490 00:26:42,920 --> 00:26:47,520 Speaker 1: to NETS games where a number of Greek fans will 491 00:26:47,560 --> 00:26:53,040 Speaker 1: be there with the Greek flag, Um, just screaming for Johanna's. 492 00:26:53,160 --> 00:26:55,280 Speaker 1: This is before the game. So is this a cultural 493 00:26:55,280 --> 00:26:58,560 Speaker 1: divide that non US fans are behaved this way but 494 00:26:58,760 --> 00:27:00,800 Speaker 1: US fans are more reserved. I've see it at the 495 00:27:00,800 --> 00:27:03,000 Speaker 1: New York City Football Club. I see it red bull 496 00:27:03,280 --> 00:27:06,560 Speaker 1: in the supporter sections, But I don't see it in basketball. Yeah, 497 00:27:06,600 --> 00:27:11,440 Speaker 1: I think because I think US fans are You're a 498 00:27:11,560 --> 00:27:14,320 Speaker 1: US based, right, so you're a fan of the United States. 499 00:27:14,800 --> 00:27:18,760 Speaker 1: Whereas somebody who's Greek will end up. Um, they love 500 00:27:18,840 --> 00:27:21,680 Speaker 1: the fact that Janice is from Greece, right, so you 501 00:27:22,000 --> 00:27:24,000 Speaker 1: will have a lot I mean, look at what happened 502 00:27:24,040 --> 00:27:29,200 Speaker 1: in the All Star voting with Zaza. That Zaza almost 503 00:27:29,320 --> 00:27:32,400 Speaker 1: ended up, Um, you know, making the All Star team, 504 00:27:32,480 --> 00:27:33,919 Speaker 1: and the reason he did because you had all these 505 00:27:33,960 --> 00:27:38,320 Speaker 1: Georgian fans who were voting for him. Um. What you 506 00:27:38,480 --> 00:27:42,480 Speaker 1: find is non US fans because they've come to their country, 507 00:27:42,520 --> 00:27:44,920 Speaker 1: whether you're an immigrant or your parents are from there, 508 00:27:45,480 --> 00:27:50,440 Speaker 1: Um quickly identify with that and want to show their support. Michael, 509 00:27:50,480 --> 00:27:53,840 Speaker 1: the answer is obvious. They need an owner, face and 510 00:27:54,040 --> 00:27:59,359 Speaker 1: chest painted beating the way. I would pay good money 511 00:27:59,440 --> 00:28:02,960 Speaker 1: to see that. U c k s b u c ks. 512 00:28:03,040 --> 00:28:06,280 Speaker 1: That's five. How many kids do you have? I've just 513 00:28:06,440 --> 00:28:08,440 Speaker 1: solved your problems you have, and I thank you for that. 514 00:28:08,560 --> 00:28:10,880 Speaker 1: I haven't thought of it. I do think people would 515 00:28:10,880 --> 00:28:12,960 Speaker 1: be shocked if I came to the arena with my 516 00:28:13,080 --> 00:28:16,800 Speaker 1: face painted um, without a shirt on with the Bucks logo. 517 00:28:16,880 --> 00:28:19,960 Speaker 1: But maybe I may try it. Why not? Mark, thanks 518 00:28:20,040 --> 00:28:22,000 Speaker 1: very much for joining us. Pleasure, Thank you for having me. 519 00:28:22,359 --> 00:28:25,040 Speaker 1: Thank you. Mark. Mark last Ree is the culinary of 520 00:28:25,080 --> 00:28:28,399 Speaker 1: the Milwaukee Bucks and also the chairman and CEO of 521 00:28:28,560 --> 00:28:31,720 Speaker 1: Avenue Capital Management. Al Right, Michael, let's finish up the 522 00:28:31,760 --> 00:28:35,119 Speaker 1: show with one final story. A number we're focusing on today, 523 00:28:35,320 --> 00:28:38,880 Speaker 1: and that number is eight. I know that it has 524 00:28:38,960 --> 00:28:42,320 Speaker 1: something to do with crummy medals eighty of them. Yes, 525 00:28:42,960 --> 00:28:46,560 Speaker 1: probably more to come. If people have not heard, in essence, 526 00:28:47,160 --> 00:28:50,080 Speaker 1: the medals that were awarded to the athletes at the 527 00:28:50,240 --> 00:28:54,800 Speaker 1: at the Rio Olympics. They're flaking, they're crumbling. In essence, 528 00:28:54,880 --> 00:28:58,040 Speaker 1: gold doesn't seem to be gold, silver rate silver, and 529 00:28:58,200 --> 00:29:00,480 Speaker 1: bronze is less than bronze. The athlete are not happy 530 00:29:00,480 --> 00:29:02,600 Speaker 1: about it. How does that happen? Well, how does a 531 00:29:02,640 --> 00:29:05,800 Speaker 1: lot happen with real I mean everything is the infrastructure 532 00:29:05,800 --> 00:29:09,000 Speaker 1: is now white elephants. There are lawsuits going on about 533 00:29:09,080 --> 00:29:13,080 Speaker 1: bribes to build stadiums. Rio Olympics. Hard to gonna point. 534 00:29:13,080 --> 00:29:15,320 Speaker 1: It's gonna be hard for the IOC to point at 535 00:29:15,320 --> 00:29:17,560 Speaker 1: future bidders and say, look at real, what success that was. 536 00:29:17,840 --> 00:29:21,400 Speaker 1: This is Bloomberg Business of Sports on Bloomberg Radio around 537 00:29:21,440 --> 00:29:23,880 Speaker 1: the world. We are here each and every week at 538 00:29:23,920 --> 00:29:26,400 Speaker 1: the same time, exploring the world of money in sports. 539 00:29:26,440 --> 00:29:28,959 Speaker 1: I'm Michael barn and I'm Scott Sai. Thanks for joining us. 540 00:29:29,000 --> 00:29:31,280 Speaker 1: Please tune in next week when we speak with NHL 541 00:29:31,280 --> 00:29:32,520 Speaker 1: Commissioner Gary Bittman.