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Speaker 1: Hello, I'm Scott, I'm Evan Novie Williams, and I'm Michael Barren.

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Speaker 1: This is the Bloomberg Business of Sports podcast, where we

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Speaker 1: explore the big money issues in the world of sports today.

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Speaker 1: We begin with the conversation on new rules to compensate

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Speaker 1: college athletes and how much stars like Zion Williamson would

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Speaker 1: have possibly made in their time at the n C

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Speaker 1: Double A under these rules. Yeah, well, I just stumbled

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Speaker 1: upon this, bar and Mr underscore that a sports economist

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Speaker 1: and a professor of economics at Southern Utah, David Berry,

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Speaker 1: sort of and it makes sense the way he did it.

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Speaker 1: It was sort of how much revenue does a team generate,

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Speaker 1: how many wins does a player contribute to, how much

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Speaker 1: do they get per win? YadA, YadA. Anyway, he has

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Speaker 1: concluded that Zion Williamson, who of course is now in

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Speaker 1: the NBA, um but he would have made over five

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Speaker 1: million dollars in his final season at Duke. That's what

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Speaker 1: his contribution to the program would have been worth. So

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Speaker 1: for all these folks out there who are wondering, well,

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Speaker 1: how would you figure out, you know, what somebody's worth

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Speaker 1: on how much the athletes would get paid and obviously

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Speaker 1: this is pie in the sky. This does not exist.

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Speaker 1: Players do not get paid. But probably I popping for

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Speaker 1: people to realize that under this formula, Zion five million dollars. Yeah,

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Speaker 1: this is the pro formula. Essentially take the revenue of

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Speaker 1: it roughly goes to players and then dividing it up

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Speaker 1: from there. Um. I mean I have a few thoughts

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Speaker 1: on this one. In an open market, significantly more than

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Speaker 1: five million dollars just for just for one year, would

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Speaker 1: you what? You could argue though, he'd be worth more

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Speaker 1: to Kentucky and Duke than he would be Akron. Yeah,

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Speaker 1: I think that for sure. And you know, Akron is

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Speaker 1: probably not gonna pay Zion when he was in more

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Speaker 1: than five million dollars, even even if even if they could. Um.

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Speaker 1: But yeah, and you bring up football, I mean, the

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Speaker 1: numbers are so much bigger than this, probably depending on

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Speaker 1: who the star is and where. I mean, when Jenny

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Speaker 1: Manziel so that's always the example. I thinks a perfect example.

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Speaker 1: He was at Texas A and M when they jumped

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Speaker 1: to the SEC, so there was a lot going on.

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Speaker 1: But Texas A and M is the richest program college

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Speaker 1: sports program in the country right now. Um. And you

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Speaker 1: can trace that back to Johnny Manziel. They said that

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Speaker 1: his Heisman trophy alone was thirty seven million dollars worth

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Speaker 1: of media exposure. I believe on r G three one

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Speaker 1: at Baylor that they said his entire kind of Heisman

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Speaker 1: ecosystem it was worth two d fifty million. The numbers

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Speaker 1: are are staggering. Um. So, so this is just one

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Speaker 1: way of calculating it, and I think it's fairly conservative.

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Speaker 1: When I actually look at the numbers, I'm excited. I mean,

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Speaker 1: we know, like the PAC twelve is looking to like

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Speaker 1: breaking off a media entity and selling it. So it's

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Speaker 1: not going to go to a private equity group, but

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Speaker 1: we'll see what other media companies or whoever else is interested. Uh.

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Speaker 1: It's going to give a good window into help people

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Speaker 1: think they can monetize just the media rights off of

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Speaker 1: the big time. Yeah, and we should mention, I mean,

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Speaker 1: we we've talked a lot about this momentum right now

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Speaker 1: in college sports for to let players market themselves. Right,

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Speaker 1: this number that Dave Barry calculated is totally set brit

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Speaker 1: from whatever Zion Williamson theoretically could have gotten on an

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Speaker 1: open car to be to have a Nike partnership, to

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Speaker 1: be Gatorade, to be on the local car dealers, to

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Speaker 1: be in a in a in a video game. What

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Speaker 1: I have discussed it like the real value here to

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Speaker 1: the broad majority of college athletes. I think a lot

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Speaker 1: of them would be surprised that there isn't much of

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Speaker 1: a market for sort of the tackle or the end

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Speaker 1: or the whatever. The huge huote stars. Yes, but on

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Speaker 1: that local car dealership, the local restaurant opportunities abound for

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Speaker 1: some of these athletes. Yeah, And I personally I think

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Speaker 1: that they should be paid for both, you know, the

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Speaker 1: ability to market themselves and for a lot of the

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Speaker 1: money they're bringing in. But I think it's a much

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Speaker 1: more palatable cell right now to say, hey, let these

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Speaker 1: kids sign marketing deals much like any other student on campus.

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Speaker 1: I think that's an easier sell than it is to say, hey,

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Speaker 1: give these kids a direct cut of the media rights

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Speaker 1: or you know, there's only really one aspect of the

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Speaker 1: big time college athletics that is not akin to what

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Speaker 1: you see in the pros, and that's the pay. I mean,

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Speaker 1: obviously don't collect the bargaining agreement, but it's really the pay.

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Speaker 1: Everything else, all the infrastructure all the facilities, the salaries,

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Speaker 1: the media. It's just like a pro enterprise. Up next

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Speaker 1: we turn from college to the pros where NBA ratings

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Speaker 1: are suffering this year. And I'm a little bit surprised

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Speaker 1: about that. Whysed because I've always said this, the NBA

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Speaker 1: is the perfect game for today's society. It's about a

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Speaker 1: little over to maybe two and a half hours, it's young,

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Speaker 1: people enjoy it, the game moves. I've always thought this

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Speaker 1: was the perfect game, the perfect vehicle for the media today.

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Speaker 1: I would counter that with a couple of things. One,

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Speaker 1: I think the NBA regular season feels largely irrelevant to

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Speaker 1: the results, and it's getting more so. One I think

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Speaker 1: because you know, there seems to be fewer and fewer

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Speaker 1: teams in the top echelon of competitors. And two and

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Speaker 1: we to talk more about this load management, which seems

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Speaker 1: to be the seems to be the two word buzz

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Speaker 1: word that's going around really all sports right now, um,

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Speaker 1: but especially in the NBA. It seems as though there

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Speaker 1: is a problem with players. Kawhi Leonard seems to be players.

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Speaker 1: No league is more driven by its superstars then the NBA.

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Speaker 1: And that's why David stirring years ago, was so angry

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Speaker 1: with Greg Popovich when he rested his stars in a

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Speaker 1: national TV game. They would wish, you need you need

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Speaker 1: to rest Kawhi Leonard. Don't do it on a T

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Speaker 1: n T or ESPN game. Those folks pay us a

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Speaker 1: lot of money. They need the superstars. I get it. Uh.

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Speaker 1: And there's a fine balance because the coach's job is

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Speaker 1: not to drive ratings. A coach's job is to ultimately

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Speaker 1: win the NBA championship. It's funny because the NBA is

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Speaker 1: kind of in this place where on the court, you know,

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Speaker 1: ratings are not particularly good. Eight of the ten T

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Speaker 1: n T games this year are down from last year.

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Speaker 1: They didn't a million. Yeah, the nine games already haven't

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Speaker 1: drawn time games haven't drawn a million viewers. They were

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Speaker 1: nineteen all of last year. Um. But off the field,

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Speaker 1: and to your point, Michael, off the field, the NBA

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Speaker 1: has never been buzzier, right that the off season was

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Speaker 1: news every day, that there's so much's almost like a

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Speaker 1: reality show again off the court. But on the court,

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Speaker 1: it's not as compelling as maybe, let's say we ended

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Speaker 1: the NBA's broadcast contracts right now. Okay, it's Oh, but

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Speaker 1: all of it. It's free market. Who wants it? Does

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Speaker 1: anybody think the number is gonna go down? No? Exactly exactly.

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Speaker 1: That's ultimately maybe maybe we need to start looking at

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Speaker 1: more than just ratings. It's we're selling the final minutes

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Speaker 1: of games and you know what is it? Forgot the number?

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Speaker 1: But yeah, the way people are starting to interact and

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Speaker 1: consume this stuff is changing. There are different ways to

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Speaker 1: monetize an NBA game, and it's not solely gonna be

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Speaker 1: just the big companies or the fangs in the next one,

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Speaker 1: we'll see forking over the billions of dollars to podcast

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Speaker 1: this stuff. And this also plays well into players hands, right,

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Speaker 1: I mean they are they have never been more popular

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Speaker 1: than they are right now. And and the kind of

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Speaker 1: the thread, the popularity of these things like trade headlines

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Speaker 1: and you know, offseason spats, etcetera. Like the thread, there

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Speaker 1: is the players, right, and that is that is access

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Speaker 1: that players can give that isn't part of necessarily part

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Speaker 1: of the big you know, multimillion dollar, billion dollar TV deals.

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Speaker 1: There's certainly an opportunity there in a star driven league

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Speaker 1: with the NBA. Yeah, I don't know if there's a

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Speaker 1: dirty little secret. But I think everybody who's kind of

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Speaker 1: been in the basketball in the basketball world has known

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Speaker 1: that really the season doesn't start till Christmas Day anyway.

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Speaker 1: So what's happening now? Taken with grainess Hall, let's see

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Speaker 1: what's happened, Let's see what happens at Christmas. Here's how

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Speaker 1: I counter with that, and I go back to sports

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Speaker 1: betting and online sports betting. The big thing about watching

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Speaker 1: a game is that I can bet live online as

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Speaker 1: the game is going on, so I need to monitor.

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Speaker 1: Let's say, for instance, I'm watching okay See and okay

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Speaker 1: See gets on a ten point run. Then all of

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Speaker 1: a sudden, it's like, well, I can change any bet

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Speaker 1: that I want. That's why I'm I don't understand why

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Speaker 1: the ratings are down. But you don't need First of all,

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Speaker 1: it's not it's not U s Yde yet. There's certain

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Speaker 1: places and you don't need to be watching the game

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Speaker 1: per se on TV to make those bets. You can

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Speaker 1: follow in any number of ways. And and one other

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Speaker 1: question to toss into the mix here, you know, Lebron James,

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Speaker 1: who is you know? The main draw right now remains

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Speaker 1: for for for basketball played so long on the East

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Speaker 1: Coast is now on the West Coast, the two most

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Speaker 1: compelling well I would imagine right now are the Lakers

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Speaker 1: and the Clippers. There seems to have been this kind

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Speaker 1: of shift in power and maybe more specifically interest to

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Speaker 1: the West coast. And that can't help you know, Lebron

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Speaker 1: James his home games end at one am Eastern, if

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Speaker 1: not later. That can't help ratings on a national level.

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Speaker 1: If the teams that people really want to see are

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Speaker 1: all starting their games, you know, at ten o'clock on

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Speaker 1: the East. If you're a TV executive, you're saying, hey,

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Speaker 1: give me Lebron, but I want him on the back East. Yeah.

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Speaker 1: I mean, I think if you're if you're t n T,

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Speaker 1: you'd love to see some of this stardom on the

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Speaker 1: West Coast starts shifting its way east where it had

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Speaker 1: been for so long. Let's mark it down. Let's watch

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Speaker 1: and see what happens on the Christmas Day games. By

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Speaker 1: the way, congratulations to Lebron James, the only man in

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Speaker 1: the NBA to score a triple double on every team

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Speaker 1: in the league. I did not know that. That's nice. Yeah. Finally,

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Speaker 1: let's talk sports news media, where the New York Times

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Speaker 1: is considering spinning off its sports section to a standalone

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Speaker 1: digital subscription. Yeah, what do you What do you think,

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Speaker 1: Novie Williams. I mean, you're like a You're a print

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Speaker 1: print out the cross word puzzle guy. You're not a

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Speaker 1: digital guy. You have you print out the thing you

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Speaker 1: put in your pocket when you go to the subway. Um,

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Speaker 1: I get why people would pony up for the cross

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Speaker 1: word I get it. Uh, New York Times Sports section,

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Speaker 1: would you think about paying an extra subscription fee for

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Speaker 1: that to get it as an a la cart basis?

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Speaker 1: I mean, it's just not hardcore sports fan news. It's

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Speaker 1: mountain climbing. It's there's been a shift in that. Yeah,

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Speaker 1: it's funny. I think I think you hit that exactly right.

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Speaker 1: The New York Times Sports section seems to have in

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Speaker 1: the past decade or so shifted away from, yeah, game coverage.

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Speaker 1: I don't even know if they had right with them

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Speaker 1: with the Mets this year that they've shifted away from,

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Speaker 1: you know, the New York team coverage, game coverage and

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Speaker 1: done more, you know, bigger and I think fantastic, you know,

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Speaker 1: wider stories about you know, mountain climbing or you know,

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Speaker 1: they've beefed up their soccer coverage a lot. Shout out

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Speaker 1: to Terry Bloomberg, who does great work. Um, it's more

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Speaker 1: general sports and and very often not the big four sports. Um.

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Speaker 1: And to me, having a subscription model like that is

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Speaker 1: aimed at, you know, hardcore localized things, right the athletic.

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Speaker 1: You know, we we can debate whether or not the

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Speaker 1: athletic is it's healthy right now, but they have expanded

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Speaker 1: very quickly. They've raised a lot of money because they're

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Speaker 1: offering hyper localized sports coverage. The New York Times is

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Speaker 1: not doing that, so and us there is a shift.

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Speaker 1: You know, the product is not hyperlocalized, it's not New

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Speaker 1: York centric at all, but it's more general interest sports.

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Speaker 1: And is there enough there to to drive subscriptions. I'm

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Speaker 1: not sure about that. I don't know either. UM. I

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Speaker 1: won't say yes or no. UM. But it's interesting that

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Speaker 1: it's one of the things they're thinking about, this sort

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Speaker 1: of spinning off their sections. Yeah. And then another kind

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Speaker 1: of part of that question is how many people subscribe

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Speaker 1: to The New York Times primarily to get their sports coverage? Yeah,

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Speaker 1: and if that is a high number, you end up

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Speaker 1: you run the risk of cannibalizing your main product by

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Speaker 1: offering a cheaper, smaller, more specific product that people can

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Speaker 1: shift their way. You know what many bar anyway, I'm

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Speaker 1: just like, hey, Novie Williams. You got that what's what's

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Speaker 1: your password? Copy and pasted? You send it to me

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Speaker 1: so I can see it. It's nice. I just go

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Speaker 1: about it that way so it won't affect me. By

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Speaker 1: the way, we have a treat. But you have a

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Speaker 1: huge tree. You gave me this treat, you guys, and

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Speaker 1: I appreciate it, all right. I smoke with Roger Pinsky

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Speaker 1: and you know raising you know Roger Panskey, Uh, he

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Speaker 1: has one numerous Indie five hundreds with his teams. He's

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Speaker 1: great in NASCAR also, and he just recently bought the

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Speaker 1: Indianapolis Motor Speedway. Uh. He also purchased the I r

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Speaker 1: L governing body. And we talked about many things. In fact,

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Speaker 1: what happens when you have a car that's in the

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Speaker 1: race and you're the governing body, what happens there? And

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Speaker 1: we started with one of his UH superstars on his

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Speaker 1: NASCAR team, Joey Legano. He was last year's NASCAR champion

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Speaker 1: and by the way, congratulations to Kyle Bush this year,

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Speaker 1: but we talked about Joey Legano and this is how

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Speaker 1: the interview went. Well, I think Joey came on and

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Speaker 1: he's just matured so much, and he won the championship

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Speaker 1: for US last year. He's he's a class guy, and

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Speaker 1: I think that he and Brittany and they've got young

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Speaker 1: children now and it's just a mature young man and

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Speaker 1: he's probably one of the toughest guys on the circuit.

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Speaker 1: I think he's well, you know, proceed by his uh,

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Speaker 1: his teammates and also his peers that he's a guy

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Speaker 1: is tough to beat. So we're so glad to have

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Speaker 1: him on our team. Now, next year, you're heading for

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Speaker 1: the finale at I M. S on a short track

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Speaker 1: uh in Arizona, and we all know everybody will be

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Speaker 1: calm on a short track. Your thoughts about that kind

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Speaker 1: of racing next year, Well, I think, uh, you know,

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Speaker 1: from the NASCAR perspective, you know, they're finishing the playoffs

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Speaker 1: at Homestead UH this next weekend, and next year they

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Speaker 1: move out to the I S M Speedway, which is

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Speaker 1: in Phoenix, owned by you know, the France family, And

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Speaker 1: I think that that's going to be interesting. They've done

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Speaker 1: a lot of work out that they spent probably fifty

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Speaker 1: or six seventy million dollars redoing that track, and I

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Speaker 1: think we had a chance to race on it this

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Speaker 1: past weekend. With the amenities for the fans and the

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Speaker 1: activities and and really the transparency for the fans and

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Speaker 1: seeing what's going on in the garager, I think we're

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Speaker 1: trying to make it more fan friend lee, which is

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Speaker 1: certainly helped helping the sport when we look at, you know,

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Speaker 1: the ratings this year from a motor sports perspective. Speaking

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Speaker 1: of the France family, you have joined that very elite

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Speaker 1: group where you are the owner of one of the

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Speaker 1: most prominent race tracks around. The France family, of course

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Speaker 1: the own the Daytona Speedway, and now you are the

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Speaker 1: owner of the Indianapolis Motor Speedway. And I couldn't think

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Speaker 1: of anybody else if the George family couldn't own it.

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Speaker 1: Uh my goodness, Roger Pinsky, definitely could I understand that

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Speaker 1: the George family approached you about this. Yeah, listen, we

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Speaker 1: haven't passed the check over yet. We won't take that'll

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Speaker 1: take place first of January. We've got to go through

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Speaker 1: the normal regulatory in state filings. But we're in good

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Speaker 1: process there. We've had a very very good time from

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Speaker 1: the standpoint of negotiating the deal. I was approached, you know,

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Speaker 1: back at the last INDI car raced by Tony Jordan

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Speaker 1: said he'd like to talk to me about the future.

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Speaker 1: Not knowing exactly what that was, we set a date

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Speaker 1: up to go to into Napolis and he and Mark

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Speaker 1: Miles Uh you know uh laid out to me the

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Speaker 1: opportunity from the standpoint of would we be interested in

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Speaker 1: purchasing uh the key assets of the home and company.

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Speaker 1: And obviously, you know, my stomach was going on a

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Speaker 1: hundred miles an hour to think that I even have

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Speaker 1: a chance. It's almost a dream come true when you

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Speaker 1: think your dad took it into Napolis in nine fifty

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Speaker 1: one as a kid, and I think that, you know,

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Speaker 1: we had a you know, a very very quick process.

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Speaker 1: Both organizations were connected. We really worked seven days a

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Speaker 1: week and we're able to complete the signing of a

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Speaker 1: merger agreement. The families all agreed and our board approved

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Speaker 1: it and we announced that, you know, we could go Monday.

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Speaker 1: So you know, pretty exciting when you think about the

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Speaker 1: speed to get that done. And on the other hand,

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Speaker 1: I think the the iconic track to think about, you know,

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Speaker 1: three hundred peep Laire. It's probably the biggest sporting event

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Speaker 1: in the world each May. And to think that we

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Speaker 1: have the opportunity now to take on the reins and

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Speaker 1: be the receiver of you know, a super assets. So

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Speaker 1: we're very excited as a company and certainly as a family.

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Speaker 1: Now let's see if my history is down to earth

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Speaker 1: here when it comes to the winner of the five.

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Speaker 1: So you saw Lee Wallard win the five hundred that year,

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Speaker 1: you're pretty good, Sure did Lee Walardy? It's pretty good. Yeah,

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Speaker 1: we sure did. Lee Wallard was there and that was

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Speaker 1: you know, I went to the Speedway after that every

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Speaker 1: single year until we had a split back and I

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Speaker 1: guess it was somewhere about nineties six through two thousand,

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Speaker 1: and you know, we had championship auto racing teams and

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Speaker 1: then we woke up and said, hey, we'd better get

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Speaker 1: back to the speedway. So we had good luck there.

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Speaker 1: We won the race eighteen times. I think that it's

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Speaker 1: probably a pinnacle, you know for us in our business.

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Speaker 1: It's been a common thread, you know, building our brand

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Speaker 1: over the years. Uh, you know, the stun being able

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Speaker 1: to compete and win, and the transparency and the hard work,

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Speaker 1: and I think the integrity that you know that stands

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Speaker 1: for it when you win a race like that at

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Speaker 1: into Napolis. So you know, it's been a it's been

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Speaker 1: a great asset for us, even though we haven't onned it.

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Speaker 1: I want to talk about You've had many drivers that

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Speaker 1: have raced for you, but one driver who did win

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Speaker 1: the Indie five. Right, I'm gonna leave back in seventy two.

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Speaker 1: I always thought one of the greatest drivers around and uh,

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Speaker 1: an unsung hero was Mark Donahue. Can you tell me

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Speaker 1: about your relationship with the late great Mark Donahue? And uh,

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Speaker 1: just how great he was on the track. Well, you know,

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Speaker 1: Mark goes back, we go back into the sixties. Really,

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Speaker 1: you know, he was driving in an Elva courrier up

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Speaker 1: at Lime Rock and someone pointed him out to me

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Speaker 1: and I got to know him and said, look, let's

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Speaker 1: get together. And he was a Brown graduate, uh, you know,

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Speaker 1: had a cow cut haircut, an engineer and it was

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Speaker 1: all into into cars and racing. Well, we developed obviously

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Speaker 1: a relationship very quickly and he joined you know, Penske

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Speaker 1: Racing at that point and really became he worked at

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Speaker 1: the shop. He was technically savvy from from a certainly

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Speaker 1: from when we were looking at the innovative ideas and

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Speaker 1: we ran the Canam Series which we won. We were

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Speaker 1: in the Porsche of Big nine seventeen thirties which just uh,

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Speaker 1: you know, wiped out the field, and then we were

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Speaker 1: in the Transam Series with the Camaros. But during that

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Speaker 1: time we of course went to int Annapolis. In nineteen

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Speaker 1: sixty nine he was a Rookie of the Year and

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Speaker 1: then in seventy two, you know, we won our first race.

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Speaker 1: But Mark was a wonderful person. Unfortunately, he died after

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Speaker 1: a practice accident in the Austrian Grand Prix on race

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Speaker 1: morning and he got out of the car that thought

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Speaker 1: he was all right, and then he, I guess had

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Speaker 1: a brain hemorrhage. I'm not sure what the official board

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Speaker 1: was at that point, but he passed, and you know,

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Speaker 1: he left a legacy for us which we carried on,

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Speaker 1: you know, throughout the many years after Mark passed. So

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Speaker 1: you know, I regard him as really the key foundation

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Speaker 1: block in our in our race team, and that's something

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Speaker 1: a lot of people don't know about. You I mean,

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Speaker 1: obviously you you have many businesses, but you were very

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Speaker 1: good as a racing driver back especially what nineteen sixty

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Speaker 1: you were on Sports Illustrated Driver of the Year. Well, look,

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Speaker 1: that's a long time ago. I'm not sure how I

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Speaker 1: would compete today. The only thing I can say that

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Speaker 1: I think it was, I'm not sure which what year

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Speaker 1: it was. I was asked to go to take my

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Speaker 1: driver's test at the Indianapolis five hundred by Clint Browner

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Speaker 1: and Jim McGee. And I was working for al Co

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Speaker 1: at that time as a sales salesman, and they wouldn't

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Speaker 1: let me off. So Mario Andretti took the tests in

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Speaker 1: that car. So I guess each of us took a

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Speaker 1: little different street, but ended up at home in pretty

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Speaker 1: good shape. My son, my oldest son, he is twenty

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Speaker 1: eight years old, and I taught him how to count

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Speaker 1: by the numbers on the racing car. And the first

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Speaker 1: number he ever learned was forty three Richard Petty. And

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Speaker 1: and he's a big race fan, just like I am today.

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Speaker 1: And every year he goes to the Detroit Grand Prix

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Speaker 1: where you guys race, uh. And he said one of

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Speaker 1: the greatest things about the Indy Car series is that

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Speaker 1: the drivers meet the fans. They just come out and

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Speaker 1: they'll say hello and then the meet and greet. I

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Speaker 1: think that's one reason why Indy Car racing is on

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Speaker 1: the ruse. Well, I think when you when you think

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Speaker 1: about it, my grandkids the same thing they're watching TV

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Speaker 1: and I six is mirrors and someone else. So you're

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Speaker 1: you're in the same league. I'm I'm teaching my grandkids.

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Speaker 1: But when you think about transparency and access, that's one

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Speaker 1: of the things that the Indy Car has done well.

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Speaker 1: I think I've seen and even guys like Petty sit

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Speaker 1: on the front under their until the last fan goes,

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Speaker 1: you know, goes home. And to me, on Indy Car

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Speaker 1: they have autographed times when their guys are scheduled to

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Speaker 1: sit at a table by their transporter. And this is

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Speaker 1: what we need today. Access And you know, with the

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Speaker 1: TV and the in car cameras and the ability to

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Speaker 1: listen to the feedback on the radio between the car

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Speaker 1: and the pits, you can do that. You can stream it.

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Speaker 1: It's been the technology is great. We'll be getting five G.

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Speaker 1: These are things that are only going to make it better.

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Speaker 1: And I think the lengths of the races are probably

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Speaker 1: the right time, and with the IndyCar on our rise,

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Speaker 1: we're pretty excited for the future. And this is a tremendous, uh,

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Speaker 1: you know, opportunity. This has been owned by you know,

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Speaker 1: the home and family since the nineteen forties and what

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Speaker 1: we hope to do is be able to be the

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Speaker 1: guardian and secure these assets and hopefully build on the

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Speaker 1: value of them as we go forward. One last question,

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Speaker 1: congratulations on winning the Medal of Freedom you just wanted

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Speaker 1: only a few days ago and it was awarded to you.

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Speaker 1: Can you tell us about that feeling of what it

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Speaker 1: was like to receive that award. Well, I'd have to

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Speaker 1: say very humbling. And to be able to walk in

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Speaker 1: the Oval office, you know, with your family. I had

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Speaker 1: my five children, there is my brother and his wife,

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Speaker 1: and to walk in the Oval office and have the

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Speaker 1: president vice president there and shaking their hands, and it's

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Speaker 1: just it's something that you just never forget. I never will.

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Speaker 1: It's a very humbling time. And you know, to think

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Speaker 1: that in this country, in the United States of America,

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Speaker 1: you have the opportunity to build, you know, a business,

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Speaker 1: build a reputation and have someone like the President obviously

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Speaker 1: call you and say that they want to give you

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Speaker 1: this Medal of Freedom honor, which is certainly key. And I,

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Speaker 1: as I said during my time there, I said, you know,

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Speaker 1: the great the greatest people for us in the in

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Speaker 1: the in the US are the men and women in

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Speaker 1: the military and the first responders. They're the they're the

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Speaker 1: true heroes and the backbone of our country. And this honor, obviously,

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Speaker 1: you know, started where they were rewarding and honor to

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Speaker 1: the military. So I feel, you know, very honored, and

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Speaker 1: again it's something that our family will never forget. Well,

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Speaker 1: as an old school, die hard racing fan, I can't

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Speaker 1: even call you Roger Penskey, it's Mr Pinsky. So I

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Speaker 1: want to say thank you so much for taking the

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Speaker 1: time out and talking with us. Keep up the great work,

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Speaker 1: and good luck to you for owning the Indianapolis Motor

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Speaker 1: Speedways their great call me anytime, glad to talk to you.

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Speaker 1: All the best. Thank you, Thank you, sir, guys. That

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Speaker 1: was my conversation with Roger Pinsky. Sir Roger Pensky, because

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Speaker 1: he's he's just awesome. That would imply British knighthood, yes,

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Speaker 1: and he should, he should get it. I also said

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Speaker 1: that you should call him. We should try him this right,

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Speaker 1: he said, anytime it's one pm on Friday. The irony

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Speaker 1: of that is his first. One of his first venues

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Speaker 1: as a team owner was the nineteen twenty four Hours

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Speaker 1: of Daytona, which coincides with the film that has just

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Speaker 1: come out now Forward Versus Ferrari, which is a lot

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Speaker 1: of bum get a lot of buzz Ford Versus Ferriday,

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Speaker 1: which is a good movie. But I didn't see it,

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Speaker 1: but I may see it. This is the Bloomberg Business

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Speaker 1: of Sports podcast on Michael Barr along with Scotti and

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Speaker 1: Evan Nobie Williams. We are here every Monday, Wednesday and

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Speaker 1: Thursday exploring the world of money in sports. Joined us again.

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Speaker 1: At the end of the week. We have Jared Smith,

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Speaker 1: the president of Ticketmaster, in here talking about all things ticketing.

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

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