1 00:00:01,480 --> 00:00:05,040 Speaker 1: Hello, I'm Michael blarn Evvie Williams, and I'm Scott Sashnik. 2 00:00:05,160 --> 00:00:08,039 Speaker 1: Every week at this time plus Monday's, Wednesdays and Thursdays, 3 00:00:08,080 --> 00:00:09,800 Speaker 1: we explore the big money issues in the world of 4 00:00:09,800 --> 00:00:13,680 Speaker 1: sports Today, a conversation with legendary NFL agent Lee Steinberg 5 00:00:13,760 --> 00:00:16,680 Speaker 1: about representing some of the biggest stars. When you walk 6 00:00:16,760 --> 00:00:20,200 Speaker 1: into do an endorsement today, what they ask is how 7 00:00:20,239 --> 00:00:24,520 Speaker 1: many Twitter followers does the athlete have? How many Instagram followers? 8 00:00:25,000 --> 00:00:29,800 Speaker 1: So they're looking almost as a currency, the reach of 9 00:00:29,880 --> 00:00:34,720 Speaker 1: everyone's connections on the social media. We'll have more of 10 00:00:34,760 --> 00:00:36,800 Speaker 1: our interview with Lee Steinberg in a few minutes, but 11 00:00:36,880 --> 00:00:38,720 Speaker 1: first let's look at the top stories of the week. 12 00:00:38,880 --> 00:00:43,080 Speaker 1: So let's start. It's your story, Lacrosse, Long Island, Lacrosse. 13 00:00:43,280 --> 00:00:45,000 Speaker 1: I like the way we shared the intro there top 14 00:00:45,040 --> 00:00:47,319 Speaker 1: of the week and then you came in now I'm 15 00:00:47,360 --> 00:00:50,000 Speaker 1: coming back. That's the way this show works. It's like 16 00:00:50,120 --> 00:00:53,479 Speaker 1: the synchronicity. Just once, Could we just get right to 17 00:00:53,520 --> 00:00:58,840 Speaker 1: the topics? Would that ever be possible? Young millennial patience 18 00:00:59,000 --> 00:01:01,440 Speaker 1: listens out the I got you. I'm trying every every 19 00:01:01,520 --> 00:01:04,040 Speaker 1: everything's a twenty second snippet with these kids, there's no 20 00:01:04,120 --> 00:01:06,840 Speaker 1: warm up. Come on, tell you about the time I 21 00:01:07,000 --> 00:01:11,800 Speaker 1: used to collect Nicols Stucky Masiano every time. Rocky Magret 22 00:01:11,800 --> 00:01:14,360 Speaker 1: saying that that was the goal to get you to 23 00:01:14,400 --> 00:01:18,760 Speaker 1: stop doing what was my Oh the National lacrosse Yeah, 24 00:01:18,920 --> 00:01:23,160 Speaker 1: moving along Island, you would think that the hotbed of 25 00:01:23,240 --> 00:01:26,520 Speaker 1: lacrosse Long Island. Hello Garden City, Hello Statim, Hello Huntington's 26 00:01:26,520 --> 00:01:28,959 Speaker 1: Hello wa Women, Hello half Hollo Hills. You can tell 27 00:01:28,959 --> 00:01:32,679 Speaker 1: that's where I'm from. Um, yeah, this makes perfect sense 28 00:01:32,680 --> 00:01:34,680 Speaker 1: in a league that is looking to expand. Key here 29 00:01:34,720 --> 00:01:36,880 Speaker 1: I like is the ownership group if GF Sports, GF 30 00:01:36,920 --> 00:01:41,399 Speaker 1: Sports Capital, Gary Furman, also including the former CEO of 31 00:01:41,400 --> 00:01:44,959 Speaker 1: Madison Square Garden, Hank Ratner, about live events that they 32 00:01:44,959 --> 00:01:47,919 Speaker 1: owned tennis tournaments, they own equestrian they own some ninja 33 00:01:47,960 --> 00:01:51,400 Speaker 1: stuff like kids Ninja Jim stuff. This is all about 34 00:01:51,800 --> 00:01:55,720 Speaker 1: live events and entertainment. They have long gene stuff around 35 00:01:55,720 --> 00:01:58,080 Speaker 1: the world, looking to do more. It doesn't have to 36 00:01:58,080 --> 00:02:00,200 Speaker 1: be NFL these days. It doesn't just have to be 37 00:02:00,240 --> 00:02:02,840 Speaker 1: the Big Four. There are there's monday to be made 38 00:02:03,360 --> 00:02:07,040 Speaker 1: in sports as live events. In building management of course, 39 00:02:07,080 --> 00:02:09,959 Speaker 1: BSc Global that's been called Proke owns Barkley Center owns 40 00:02:09,960 --> 00:02:13,720 Speaker 1: the National Coliseum where the team will play. They're building 41 00:02:13,760 --> 00:02:16,960 Speaker 1: something at NLL. There's something in lacrosse. But we still 42 00:02:17,040 --> 00:02:19,320 Speaker 1: yet to figure out all the leagues that are there now. 43 00:02:19,480 --> 00:02:22,480 Speaker 1: Paul Rebels, PLLL, you have mL. How's it all gonna 44 00:02:22,480 --> 00:02:24,680 Speaker 1: come together? How's it gonna fit? Will there be a winner? 45 00:02:25,560 --> 00:02:28,920 Speaker 1: But in this dawn of a new age of of 46 00:02:29,040 --> 00:02:31,839 Speaker 1: narrow casting and O T T, there's something here. Yeah, 47 00:02:32,000 --> 00:02:33,959 Speaker 1: and for for listeners out there, this is the indoor 48 00:02:34,080 --> 00:02:37,000 Speaker 1: lacrosse League, the box lacrosse. This is not the one 49 00:02:37,040 --> 00:02:39,720 Speaker 1: that that has to essentially rival competing leagues that will 50 00:02:39,720 --> 00:02:43,120 Speaker 1: be launching next year. Um, this is the correct me. 51 00:02:43,160 --> 00:02:48,239 Speaker 1: If I'm wrong, the same league San Diego expansion happened. Yeah. Um, 52 00:02:48,400 --> 00:02:52,120 Speaker 1: so clearly the uh, this is a league that is expanding. 53 00:02:52,160 --> 00:02:57,040 Speaker 1: You know, it does not have the sure Yeah. So 54 00:02:57,200 --> 00:02:59,320 Speaker 1: you know, as you said, it's a it's an entertainment 55 00:02:59,360 --> 00:03:02,440 Speaker 1: play first and foremost. But you know, props to the 56 00:03:02,520 --> 00:03:05,519 Speaker 1: NLL getting through that labor disagreement that we talked about 57 00:03:05,560 --> 00:03:08,119 Speaker 1: a couple of weeks ago. Uh, and now getting onto expansions. 58 00:03:08,760 --> 00:03:13,080 Speaker 1: What NFL problem. Revenue continues to rise. Yeah, Look ahead, 59 00:03:13,120 --> 00:03:14,760 Speaker 1: Novie Williams, You're the one I was waiting. I was 60 00:03:14,800 --> 00:03:17,520 Speaker 1: already gone when the number came out with the salary 61 00:03:17,520 --> 00:03:19,920 Speaker 1: cap was gonna gonna be. And in my head, knowing 62 00:03:19,960 --> 00:03:22,680 Speaker 1: Novie Williams, I'm sorry, knowing Novie underscore Williams as well 63 00:03:22,720 --> 00:03:25,639 Speaker 1: as I do. I was counting down like three to one. 64 00:03:25,639 --> 00:03:27,799 Speaker 1: I know Evan, he knows it's a percentage of total 65 00:03:27,880 --> 00:03:30,120 Speaker 1: revenue to figure the cap. I'm like, he's gonna reverse 66 00:03:30,160 --> 00:03:32,840 Speaker 1: engineer this. He'll be on Twitter within two minutes. But 67 00:03:33,000 --> 00:03:35,480 Speaker 1: what this means for total revenue for the NFL? And 68 00:03:35,560 --> 00:03:39,000 Speaker 1: he did not. I'm proud to say, Eben, Novie Williams 69 00:03:39,000 --> 00:03:41,880 Speaker 1: did not disappoint Take it away from yeah. The NFL 70 00:03:41,920 --> 00:03:45,160 Speaker 1: announced this week that the salary cap was gonna be 71 00:03:45,360 --> 00:03:49,800 Speaker 1: somewhere in the range of seven million, obviously a big 72 00:03:49,800 --> 00:03:52,640 Speaker 1: bump up from last year. UM. Within that, you know, 73 00:03:52,760 --> 00:03:55,560 Speaker 1: that's that's seven point three billion dollars that they're spending 74 00:03:55,600 --> 00:03:59,480 Speaker 1: on players next year. UM And for savvy listeners out there, 75 00:03:59,520 --> 00:04:02,440 Speaker 1: you know that. You know, every CB a collective bargaining agreement, 76 00:04:02,680 --> 00:04:05,640 Speaker 1: there is a percentage breakdown between owners and players. UH, 77 00:04:05,760 --> 00:04:08,520 Speaker 1: that percentage breakdown. This year was forty eight point five 78 00:04:08,600 --> 00:04:11,160 Speaker 1: percent to players. If you do the quick math, that 79 00:04:11,200 --> 00:04:14,560 Speaker 1: means the NFL is projecting two nineteen revenue to be 80 00:04:14,640 --> 00:04:18,200 Speaker 1: over fiftis. Are certain things, by the way, that are 81 00:04:18,240 --> 00:04:25,120 Speaker 1: excluded from the sort of shared pool expansion happen rel fees. Yeah, 82 00:04:25,160 --> 00:04:28,520 Speaker 1: so the money being made or earned by owners a 83 00:04:28,560 --> 00:04:31,039 Speaker 1: little higher than that. But I mean it's a good 84 00:04:31,080 --> 00:04:33,440 Speaker 1: back of Napkin way of doing it. And just so 85 00:04:33,560 --> 00:04:35,800 Speaker 1: you no bar anytime there's math to be done in 86 00:04:36,000 --> 00:04:39,000 Speaker 1: a story and anything. I just turned to say, if 87 00:04:39,240 --> 00:04:42,240 Speaker 1: you take care of it, I was gonna say, labor ahead. Morris, 88 00:04:42,360 --> 00:04:44,480 Speaker 1: He's he's got to be like happy, is all get up? 89 00:04:45,760 --> 00:04:47,960 Speaker 1: I don't. I don't know if I was. I mean, yes, 90 00:04:48,000 --> 00:04:54,920 Speaker 1: he's the numbers going up. But again the number that 91 00:04:55,320 --> 00:04:57,640 Speaker 1: the number is good. It's always decimal points related. Yeah, 92 00:04:57,640 --> 00:05:01,200 Speaker 1: that's usually what the main thing is. But the fights 93 00:05:01,520 --> 00:05:04,760 Speaker 1: ahead in the NFL will still have more to do 94 00:05:05,400 --> 00:05:09,400 Speaker 1: with discipline and things like that. It's the players are 95 00:05:09,400 --> 00:05:13,680 Speaker 1: not happy, as Roger Goodell is judge jury executioner. That's 96 00:05:13,680 --> 00:05:17,320 Speaker 1: where the fight is. Um, do they fight for another 97 00:05:17,320 --> 00:05:20,320 Speaker 1: percentage point? Move that decimal? Maybe there's things they can 98 00:05:20,360 --> 00:05:22,960 Speaker 1: put in there. The key is going to be after 99 00:05:23,000 --> 00:05:25,640 Speaker 1: this TV deal expires. You know, Roger Goodell wanted twenty 100 00:05:25,680 --> 00:05:30,040 Speaker 1: five billion and and he's gonna get there. He's it's 101 00:05:30,040 --> 00:05:33,880 Speaker 1: gonna have to be a two x three at whatever, 102 00:05:33,920 --> 00:05:36,960 Speaker 1: two x two and a half x media deal. And 103 00:05:37,120 --> 00:05:40,200 Speaker 1: right now we see no signs of the media dollars 104 00:05:40,200 --> 00:05:42,919 Speaker 1: slowing down. We don't see it, but it's not there yet. 105 00:05:43,440 --> 00:05:45,880 Speaker 1: You wonder would they ever go early evan to lock 106 00:05:46,000 --> 00:05:50,040 Speaker 1: up some part of it just yeah, ye, to prevent 107 00:05:50,160 --> 00:05:52,520 Speaker 1: yeah that next next time we're with Brian rollapp or 108 00:05:52,600 --> 00:05:54,840 Speaker 1: Roger Goodell. That's a question. Does anybody started saying, Hey, 109 00:05:54,880 --> 00:05:57,480 Speaker 1: let's why don't we extend with pick a partner and 110 00:05:57,640 --> 00:06:00,760 Speaker 1: and then see, can I brag about something before we 111 00:06:00,800 --> 00:06:04,360 Speaker 1: move on? Nobody's gonna care about this, You're you're right, 112 00:06:04,720 --> 00:06:06,919 Speaker 1: this one, I mean, before we move on. I'm in 113 00:06:07,000 --> 00:06:14,160 Speaker 1: three NFL Fantasy football leagues seasonal. In all three, I'm 114 00:06:14,160 --> 00:06:17,840 Speaker 1: in the semis for this weekend right here. What's the 115 00:06:17,880 --> 00:06:22,080 Speaker 1: team name? Well, one is an assist from John because 116 00:06:22,200 --> 00:06:25,000 Speaker 1: my son, fourteen year old son, I had to phone 117 00:06:25,000 --> 00:06:29,200 Speaker 1: an end to help draft this league. Uh. The other 118 00:06:29,200 --> 00:06:34,720 Speaker 1: one is the Pocono four hundred. You know why, and 119 00:06:34,839 --> 00:06:37,839 Speaker 1: this one You're gonna get this one over and over 120 00:06:38,560 --> 00:06:41,200 Speaker 1: and over. That's because I had Mars Shawn Lynch on 121 00:06:41,279 --> 00:06:44,120 Speaker 1: my team. It's time to get to this week's interview 122 00:06:44,160 --> 00:06:46,640 Speaker 1: with Lee Steinberg, but first we must say goodbye to 123 00:06:46,680 --> 00:06:52,520 Speaker 1: Michael Barr. Bye, Michael Well, Okay, by Michael, by Michael, 124 00:06:53,400 --> 00:06:56,960 Speaker 1: by Michael. I got to hear the serial our guest 125 00:06:57,040 --> 00:07:00,920 Speaker 1: this week, Lee Steinberg. My god, he has been an 126 00:07:00,960 --> 00:07:03,880 Speaker 1: agent for a very long time. Some of the biggest 127 00:07:04,000 --> 00:07:06,920 Speaker 1: names in the business. Everybody knows Steve Young, Warren Moon 128 00:07:07,360 --> 00:07:10,960 Speaker 1: still around with Patrick Mahomes and speaking of yesteryearly, I 129 00:07:10,960 --> 00:07:13,720 Speaker 1: remember going to your Super Bowl party in New Orleans. 130 00:07:13,840 --> 00:07:16,400 Speaker 1: That was the place to be. I think you know 131 00:07:16,400 --> 00:07:18,960 Speaker 1: what I have. I wore suspenders in the tie. I 132 00:07:19,000 --> 00:07:22,600 Speaker 1: remember that much. How much did that party symbolize what 133 00:07:22,680 --> 00:07:27,200 Speaker 1: the representation business was all about? UM? The Super Bowl, 134 00:07:27,240 --> 00:07:31,440 Speaker 1: if you will, as a convention of Americana, so that 135 00:07:32,240 --> 00:07:37,400 Speaker 1: um we happen to have the Outcast as the musical 136 00:07:37,520 --> 00:07:40,080 Speaker 1: entertainment there and they weren't on to stand in America. 137 00:07:40,280 --> 00:07:43,840 Speaker 1: So it was a mix of UH players, former players, 138 00:07:44,880 --> 00:07:49,560 Speaker 1: general managers, owners, but then political figures, and remember Tom 139 00:07:49,640 --> 00:07:54,840 Speaker 1: Dashel was a Senate majority leader. Was there um and 140 00:07:55,320 --> 00:08:00,440 Speaker 1: UH corporate ceo. So it's always been a mix of 141 00:08:01,200 --> 00:08:04,320 Speaker 1: big business politics, sports and then a lot of money 142 00:08:04,400 --> 00:08:08,760 Speaker 1: going to charity. So we have done live hook ups 143 00:08:08,920 --> 00:08:12,880 Speaker 1: with the troops in the field and Afghanistan or Iraq. 144 00:08:13,160 --> 00:08:16,720 Speaker 1: We've sent a water machine to Haiti when they were 145 00:08:16,720 --> 00:08:21,440 Speaker 1: having problems purifying water. So it's always once again in Atlanta, 146 00:08:21,480 --> 00:08:24,320 Speaker 1: it will follow the same theme. Now, what are the 147 00:08:24,320 --> 00:08:28,200 Speaker 1: odds that you bring up? Tom Dashell, Democrat was the 148 00:08:28,240 --> 00:08:31,720 Speaker 1: majority leader and minority leader in the US Senate from 149 00:08:31,760 --> 00:08:36,520 Speaker 1: South Dakota. Guess what, Lee I I dated his daughter 150 00:08:36,600 --> 00:08:42,920 Speaker 1: Kelly for six years. So well, hello to the Dash family. 151 00:08:42,960 --> 00:08:45,720 Speaker 1: I never saw at your super Bowl party. Vot oh, 152 00:08:45,800 --> 00:08:48,640 Speaker 1: he came about three or four years he came to 153 00:08:48,720 --> 00:08:52,040 Speaker 1: that one, and uh, we should make this a better story. 154 00:08:52,160 --> 00:08:54,839 Speaker 1: You should have met her at my super Bowl part. Yeah, 155 00:08:54,840 --> 00:08:57,640 Speaker 1: I'm sorry. I met her in Spanish class at Syracuse University. 156 00:08:57,720 --> 00:09:00,280 Speaker 1: Not as fun, not not as good as story, but 157 00:09:00,320 --> 00:09:02,000 Speaker 1: it would have been great at your super Bowl party. 158 00:09:02,200 --> 00:09:05,120 Speaker 1: But overall, I mean, you've been doing this a long time. 159 00:09:05,280 --> 00:09:07,640 Speaker 1: Has the business changed or is it still the same 160 00:09:07,679 --> 00:09:11,600 Speaker 1: old thing now? It's changed dramatically. First of all, the 161 00:09:11,679 --> 00:09:15,240 Speaker 1: economics have changed. So when I got started back in, 162 00:09:16,559 --> 00:09:20,040 Speaker 1: each team in the NFL made two million dollars as 163 00:09:20,040 --> 00:09:23,600 Speaker 1: their share of the national TV contract. Currently it's two 164 00:09:23,720 --> 00:09:28,080 Speaker 1: hundred million dollars. Teams cost sixteen and a half million 165 00:09:28,160 --> 00:09:31,120 Speaker 1: dollars Seattle and Tampa Bay when they came into the league, 166 00:09:31,120 --> 00:09:36,080 Speaker 1: and now the Cowboys are valued at five billion dollars. 167 00:09:36,640 --> 00:09:41,040 Speaker 1: You have the whole development of the Internet and social media, 168 00:09:41,440 --> 00:09:46,240 Speaker 1: which dramatically offers potential for branding and also potential for 169 00:09:46,840 --> 00:09:52,880 Speaker 1: controversy and scandal. You have stadia that have luxury boxes 170 00:09:52,960 --> 00:09:58,080 Speaker 1: and jumbo scoreboards and naming rights. And the athletes are 171 00:09:58,280 --> 00:10:02,040 Speaker 1: of the younger generation, so they grew up on a 172 00:10:02,080 --> 00:10:06,920 Speaker 1: big screen, computers and sound flooding over them, and Instagram 173 00:10:06,960 --> 00:10:11,400 Speaker 1: and Snapchat and text and multitasks. So if you want 174 00:10:11,400 --> 00:10:13,360 Speaker 1: to make an impression, you better get it out in 175 00:10:13,400 --> 00:10:16,960 Speaker 1: the first five minutes. And you mentioned the change of 176 00:10:16,960 --> 00:10:20,080 Speaker 1: the Internet and specifically social media. There's certainly this narrative 177 00:10:20,120 --> 00:10:24,320 Speaker 1: out there that that because of Instagram, Facebook, Twitter, individual 178 00:10:24,360 --> 00:10:27,520 Speaker 1: athletes there their brands, they're able to capitalize that on 179 00:10:27,640 --> 00:10:30,880 Speaker 1: that certainly more so than the past. But it feels 180 00:10:30,920 --> 00:10:32,400 Speaker 1: to me, and you know, you wrapped a lot of 181 00:10:32,400 --> 00:10:34,720 Speaker 1: these guys back in the in the eighties and the nineties. 182 00:10:35,400 --> 00:10:39,080 Speaker 1: It seemed like there were more NFL stars back when 183 00:10:39,200 --> 00:10:41,200 Speaker 1: you know, it was Troy Aikman and Steve Young and 184 00:10:41,240 --> 00:10:45,480 Speaker 1: more in moon than there are individual stars now. Well, 185 00:10:45,480 --> 00:10:48,040 Speaker 1: that's true in a way because if you imagine that 186 00:10:48,160 --> 00:10:50,240 Speaker 1: three of them were playing at the same time as 187 00:10:50,360 --> 00:10:56,600 Speaker 1: Dan Marino and John Elway, um and um the rest 188 00:10:56,640 --> 00:11:00,600 Speaker 1: of it. So um football, if any thing has become 189 00:11:00,600 --> 00:11:04,000 Speaker 1: more dominant. The TV ratings. For example, in the month 190 00:11:04,040 --> 00:11:08,480 Speaker 1: of September, fifteen of the top thirty shows were uh, 191 00:11:08,679 --> 00:11:12,480 Speaker 1: nighttime NFL games and this is in some ways the 192 00:11:12,520 --> 00:11:18,640 Speaker 1: most popular season ever. Um. But uh, you're right, Uh, 193 00:11:18,800 --> 00:11:22,840 Speaker 1: we're seeing the passing of an older guard as the 194 00:11:22,920 --> 00:11:27,400 Speaker 1: Eli Mannings and Philip Rivers and Drew Breeses are heading 195 00:11:27,440 --> 00:11:31,000 Speaker 1: towards the end of their career. But they've reloaded really 196 00:11:31,040 --> 00:11:35,599 Speaker 1: in a dynamic way. So um our Patrick Mahomes or 197 00:11:35,800 --> 00:11:41,480 Speaker 1: Jared Goff, these Carson Wentz, these players will sort of 198 00:11:41,480 --> 00:11:45,120 Speaker 1: assume a larger role and and they'll be branded too. 199 00:11:45,840 --> 00:11:48,880 Speaker 1: When you walk into do an endorsement. Today, what they 200 00:11:48,920 --> 00:11:52,520 Speaker 1: ask is how many Twitter followers does the athlete have? 201 00:11:52,720 --> 00:11:58,240 Speaker 1: How many Instagram followers? So they're looking almost as a currency, 202 00:11:58,800 --> 00:12:03,680 Speaker 1: the reach of every one's connections on the social media. 203 00:12:03,840 --> 00:12:06,120 Speaker 1: What was that question back in the in the eighties 204 00:12:06,120 --> 00:12:08,480 Speaker 1: and nineties, obviously no social media? What was kind of 205 00:12:08,480 --> 00:12:11,520 Speaker 1: the starter question about trying to judge the reach? Even 206 00:12:11,600 --> 00:12:13,160 Speaker 1: let let's make sure Lee knows is a bit of 207 00:12:13,200 --> 00:12:16,480 Speaker 1: an age gap between us. Lee, I remember Evan does not, 208 00:12:16,920 --> 00:12:22,800 Speaker 1: but I remember when Dan Marino was hawking isotone or gloves, Yes, exactly, 209 00:12:22,800 --> 00:12:25,120 Speaker 1: So there's a bit of a difference between us. But 210 00:12:25,160 --> 00:12:30,200 Speaker 1: what's that conversation like now, um the well, let's say 211 00:12:30,240 --> 00:12:34,080 Speaker 1: Patrick mahomes, here's the difference. So he mentions in an 212 00:12:34,200 --> 00:12:39,439 Speaker 1: article that he puts ketch up on everything. Well, all 213 00:12:39,480 --> 00:12:42,560 Speaker 1: of a sudden, we have hinds Uh coming back over 214 00:12:42,679 --> 00:12:47,800 Speaker 1: the internet sending a message about doing an endorsement with them, 215 00:12:47,840 --> 00:12:52,120 Speaker 1: and then Omaha Steaks reads the same thing and they 216 00:12:52,160 --> 00:12:56,280 Speaker 1: tell them they don't advise putting uh ketch up on 217 00:12:56,360 --> 00:12:59,760 Speaker 1: a steak, but they'll send him all the steaks. He 218 00:13:00,040 --> 00:13:03,320 Speaker 1: ONTs and so involved too, Right, there was a kind 219 00:13:03,360 --> 00:13:07,040 Speaker 1: of a war between the catchups, right and and Hunts 220 00:13:07,280 --> 00:13:09,840 Speaker 1: is involved and we're not ready to announce yet, but 221 00:13:09,920 --> 00:13:12,760 Speaker 1: we've what we're in talks to do a deal with 222 00:13:13,200 --> 00:13:18,719 Speaker 1: one of those groups. So social media, um triggers this 223 00:13:18,920 --> 00:13:25,920 Speaker 1: widespread response and UH many Monday, uh Sunday nights or Monday, 224 00:13:25,960 --> 00:13:28,680 Speaker 1: depending on when the game is. Patrick Mahomes is the 225 00:13:28,720 --> 00:13:35,080 Speaker 1: more searched for name or company on Google. So it's 226 00:13:35,120 --> 00:13:40,880 Speaker 1: a different way of information being transmitted. But um, so 227 00:13:41,000 --> 00:13:46,080 Speaker 1: that it's the new television is the Internet. We are 228 00:13:46,160 --> 00:13:49,840 Speaker 1: chatting with Lee Steinberg, player agent and Lee Patrick is 229 00:13:49,880 --> 00:13:52,760 Speaker 1: as you said, maybe the most marketable and biggest star 230 00:13:52,920 --> 00:13:56,080 Speaker 1: in the NFL. But he wasn't billed as that. Were 231 00:13:56,120 --> 00:13:59,920 Speaker 1: you prepared? Was he prepared for what is to now be? 232 00:14:01,640 --> 00:14:03,640 Speaker 1: So there's two ways to look at that. When he 233 00:14:03,679 --> 00:14:07,240 Speaker 1: was coming out, people analogized him to a gun slinger 234 00:14:07,760 --> 00:14:10,319 Speaker 1: and thought he'd just be a second or third rounder. 235 00:14:10,400 --> 00:14:13,199 Speaker 1: He was undisciplined and mostly because of the offense he 236 00:14:13,280 --> 00:14:16,920 Speaker 1: played in. But if they actually looked at him and 237 00:14:18,000 --> 00:14:22,320 Speaker 1: his abilities and also his mental abilities to be able 238 00:14:22,360 --> 00:14:26,680 Speaker 1: to focus in his temperament, um, it was unclear. It 239 00:14:26,760 --> 00:14:29,240 Speaker 1: was clear to us that he was a freak in 240 00:14:29,400 --> 00:14:33,880 Speaker 1: terms of the ability to deliver the football. The surprising 241 00:14:33,960 --> 00:14:37,920 Speaker 1: thing is that the adjustment from college to pro football 242 00:14:38,120 --> 00:14:43,000 Speaker 1: is so intense that you expected the first year of starting, 243 00:14:43,320 --> 00:14:46,200 Speaker 1: the player won't be able to read defenses. The game 244 00:14:46,240 --> 00:14:48,360 Speaker 1: will be too fast, so he's going to line up 245 00:14:48,400 --> 00:14:53,240 Speaker 1: over guard instead of center. He's gonna throw inappropriate interceptions 246 00:14:53,280 --> 00:14:56,360 Speaker 1: called time at the wrong time, get mixed up, not 247 00:14:56,480 --> 00:15:00,440 Speaker 1: read the field. So the one surprising part was not 248 00:15:00,560 --> 00:15:03,800 Speaker 1: that he got to where he got, but it's how 249 00:15:03,920 --> 00:15:07,880 Speaker 1: rapidly it happened. So you don't expect someone in their 250 00:15:07,920 --> 00:15:11,479 Speaker 1: first year starting after two games to have their jersey 251 00:15:11,600 --> 00:15:15,000 Speaker 1: their Warren Jersey retired in the Hall of Fame because 252 00:15:15,080 --> 00:15:20,160 Speaker 1: he threw ten touchdown passes and no interception. And you, 253 00:15:20,160 --> 00:15:22,680 Speaker 1: you guys kind of work together to slow play his 254 00:15:22,760 --> 00:15:25,560 Speaker 1: endorsement approach, right you you turned down deals in his 255 00:15:25,640 --> 00:15:28,720 Speaker 1: rookie year. Now you're in your second deal. Obviously people 256 00:15:28,720 --> 00:15:31,320 Speaker 1: are calling. You're kind of waiting until the offseason to 257 00:15:31,400 --> 00:15:34,400 Speaker 1: make those decisions. That right, So we we have done 258 00:15:34,560 --> 00:15:38,240 Speaker 1: some some quiet deals. But the goal has been to 259 00:15:38,320 --> 00:15:42,720 Speaker 1: keep him off billboards and television uh in Kansas City 260 00:15:42,800 --> 00:15:46,760 Speaker 1: and and to allow his play on the field to develop, 261 00:15:47,360 --> 00:15:51,720 Speaker 1: so that he doesn't look ridiculous like a Johnny Manzel 262 00:15:51,960 --> 00:15:56,720 Speaker 1: with twenty billboards in Cleveland and he's struggling on the field, 263 00:15:57,000 --> 00:16:01,160 Speaker 1: and to allow him reproved everyone he's serious about UM. 264 00:16:01,200 --> 00:16:03,640 Speaker 1: As soon as the off season hits, We've got a 265 00:16:03,720 --> 00:16:08,160 Speaker 1: load of different deals ready for public airing. And h 266 00:16:09,000 --> 00:16:12,360 Speaker 1: he's uh doing quite well because you give us a 267 00:16:12,360 --> 00:16:14,640 Speaker 1: sense of what's how how big are we talking in 268 00:16:14,720 --> 00:16:19,240 Speaker 1: terms of the full portfolio? Oh, you know, most of 269 00:16:19,280 --> 00:16:22,200 Speaker 1: the deals would be in the five hundred thousand dollar range. 270 00:16:22,320 --> 00:16:28,320 Speaker 1: So if you start to imagine different product categories automotive, UM, 271 00:16:28,360 --> 00:16:34,520 Speaker 1: clothing and apparel, uh, you know, soft drinks. Uh. We 272 00:16:34,600 --> 00:16:40,160 Speaker 1: even have his own cereal in development ready to go. 273 00:16:40,360 --> 00:16:42,360 Speaker 1: Have a what's the name, It's got to be a 274 00:16:42,360 --> 00:16:50,400 Speaker 1: catchy name, mahos, patty flakes like that. So I'm picturing 275 00:16:50,840 --> 00:16:53,440 Speaker 1: ten categories roughly five million dollars in the hopper and 276 00:16:53,480 --> 00:16:56,480 Speaker 1: the off season is that? Is that rough? So I 277 00:16:56,520 --> 00:17:00,600 Speaker 1: think that UM, And the important thing here is not 278 00:17:00,720 --> 00:17:04,719 Speaker 1: to overexpose UM so that you become sick of seeing 279 00:17:04,800 --> 00:17:09,760 Speaker 1: him so much. So, I mean, Peyton Manning is great 280 00:17:09,760 --> 00:17:11,919 Speaker 1: and all that but if I see another ad, it 281 00:17:12,040 --> 00:17:15,760 Speaker 1: just doesn't resonate hate because he's on so many UM, 282 00:17:16,119 --> 00:17:19,040 Speaker 1: so we want to be careful. He's got a long 283 00:17:19,119 --> 00:17:23,760 Speaker 1: career ahead of him, and UM, players like Tradement I 284 00:17:23,840 --> 00:17:28,240 Speaker 1: worked with are still doing endorsements, you know, fifteen twenty 285 00:17:28,320 --> 00:17:33,040 Speaker 1: years after they retired. So UM, it'll all be quality, 286 00:17:33,560 --> 00:17:38,439 Speaker 1: UM companies that have a positive vision. They will be 287 00:17:38,520 --> 00:17:42,840 Speaker 1: tie ins to charity. UM. We're putting together a charitable 288 00:17:42,920 --> 00:17:48,520 Speaker 1: foundations for him that will help kids at risk, kids 289 00:17:48,560 --> 00:17:52,280 Speaker 1: with all sorts of problems, that will operate in Kansas 290 00:17:52,320 --> 00:17:58,720 Speaker 1: City and back in Texas. UM, it'll be a handsome portfolio. UM. 291 00:17:58,760 --> 00:18:02,560 Speaker 1: But look, he's you know, he signed a contract with 292 00:18:02,600 --> 00:18:05,399 Speaker 1: the ten million dollars signing bous. It's not exactly like 293 00:18:06,119 --> 00:18:10,200 Speaker 1: he's hurting for cash. He's not. He's not in the needs. 294 00:18:10,200 --> 00:18:12,520 Speaker 1: So you can take your time, which adding with Lee Steinberg, 295 00:18:12,880 --> 00:18:15,600 Speaker 1: this is gonna be a very simple question. And I 296 00:18:15,680 --> 00:18:18,040 Speaker 1: don't know how many agents, if at all, do advise 297 00:18:18,080 --> 00:18:21,600 Speaker 1: their clients, especially NFL, because they're all covered up. And 298 00:18:21,840 --> 00:18:23,840 Speaker 1: it does help to know and see in who the 299 00:18:23,920 --> 00:18:27,359 Speaker 1: arts A reason why the NBA players are such global icons. 300 00:18:27,400 --> 00:18:30,320 Speaker 1: I can see them I know them, I recognize them. 301 00:18:30,400 --> 00:18:32,520 Speaker 1: Do you tell any of your clients, And let's say 302 00:18:32,520 --> 00:18:35,080 Speaker 1: Pat's a perfect example. When you go off the field 303 00:18:35,080 --> 00:18:38,600 Speaker 1: and when it's allowed, take off your helmet, the camera 304 00:18:38,640 --> 00:18:42,560 Speaker 1: will find you. Let America see your face. We have 305 00:18:42,720 --> 00:18:45,840 Speaker 1: that discussion. However, I will tell you that in the 306 00:18:45,880 --> 00:18:48,960 Speaker 1: heat of the game, Uh, the last thing they're worried 307 00:18:49,000 --> 00:18:54,560 Speaker 1: about is their appearance on the sideline. So um. The 308 00:18:54,680 --> 00:18:58,240 Speaker 1: key to a franchise quarterback and the ability to focus, 309 00:18:58,480 --> 00:19:03,480 Speaker 1: adopt a quiet mind, tune out everything extraneous, so he's 310 00:19:03,520 --> 00:19:07,440 Speaker 1: into the game. However, I stopped at the airport as 311 00:19:07,560 --> 00:19:11,879 Speaker 1: I flew out of Los Angeles and Patrick's pictures above 312 00:19:11,960 --> 00:19:15,719 Speaker 1: the fold of the front page headline of the USA Today, 313 00:19:15,760 --> 00:19:19,200 Speaker 1: and then it's it's half the front page of the cover. 314 00:19:19,280 --> 00:19:22,520 Speaker 1: And his face is also along the cover of Sports Illustrated, 315 00:19:22,560 --> 00:19:25,720 Speaker 1: and his face is also on the cover of ESPN 316 00:19:25,760 --> 00:19:29,600 Speaker 1: the magazine. So uh, I think that there are other 317 00:19:29,640 --> 00:19:34,040 Speaker 1: ways for him to achieve that branding. But what you 318 00:19:34,080 --> 00:19:37,800 Speaker 1: say is funny. I once had till night at lunch 319 00:19:38,000 --> 00:19:41,120 Speaker 1: and I said, Phil, how come you don't do um 320 00:19:41,920 --> 00:19:46,560 Speaker 1: all the football stars in the same manner that you 321 00:19:46,720 --> 00:19:50,640 Speaker 1: handsomely compensate the NBA's He said, well, first of all, 322 00:19:50,760 --> 00:19:54,000 Speaker 1: you sold thirty thousand pairs of cleat to choose and 323 00:19:54,040 --> 00:19:57,960 Speaker 1: a hundred million pairs of tennis sneakers. Where would you 324 00:19:58,000 --> 00:20:00,119 Speaker 1: put your budget? And the second thing, he said, it 325 00:20:00,200 --> 00:20:03,240 Speaker 1: was just what you pointed out that in basketball you 326 00:20:03,240 --> 00:20:06,640 Speaker 1: can see the player's whole body their face constantly, so 327 00:20:06,760 --> 00:20:10,320 Speaker 1: it creates more intimacy. We are chatting with Lee Steinberg 328 00:20:10,480 --> 00:20:12,560 Speaker 1: and ly at the start of this conversation, you sort 329 00:20:12,560 --> 00:20:15,720 Speaker 1: of mentioned where sports business and where franchises and leagues 330 00:20:15,800 --> 00:20:18,600 Speaker 1: were as compared to where they are now. Do you 331 00:20:18,760 --> 00:20:23,880 Speaker 1: find that the athletes, even the young kids, are cognizant 332 00:20:24,400 --> 00:20:28,120 Speaker 1: of the size of the business, that these teams, that 333 00:20:28,240 --> 00:20:32,359 Speaker 1: these leagues, that these media deals, that they know how 334 00:20:32,400 --> 00:20:34,840 Speaker 1: big a business it is, and that that they want 335 00:20:35,040 --> 00:20:39,640 Speaker 1: their piece of the pie. I carefully explain when I 336 00:20:39,680 --> 00:20:43,879 Speaker 1: meet with the new client all the economics and the 337 00:20:43,920 --> 00:20:49,440 Speaker 1: growth in the Internet, the growth in the marriage between 338 00:20:49,600 --> 00:20:57,080 Speaker 1: E games and and sponsors, the the astronomical television contracts, 339 00:20:57,240 --> 00:21:02,680 Speaker 1: the stadium revenue, the memorabilia, and one thing I make 340 00:21:02,760 --> 00:21:07,000 Speaker 1: clear to them is that this is the entertainment business. 341 00:21:07,160 --> 00:21:10,600 Speaker 1: It's not it's not bread and butter on the table. 342 00:21:11,240 --> 00:21:16,640 Speaker 1: So if you don't have any interest in graciously signing autographs, 343 00:21:16,680 --> 00:21:19,120 Speaker 1: if you don't have an interest in being open with 344 00:21:19,720 --> 00:21:23,640 Speaker 1: the journalists, uh, if you're not willing to play your 345 00:21:23,720 --> 00:21:25,960 Speaker 1: part in this, then go play on a sand lot. 346 00:21:26,359 --> 00:21:29,679 Speaker 1: No one will ask you for anything. You can just 347 00:21:29,800 --> 00:21:32,280 Speaker 1: enjoy the game and expirits. Of course, you won't be paid. 348 00:21:32,400 --> 00:21:35,200 Speaker 1: So I try to make them cognizant of the fact 349 00:21:35,280 --> 00:21:40,520 Speaker 1: that this is a major entertainment business, that the fan 350 00:21:40,720 --> 00:21:44,879 Speaker 1: is the ultimate employer, and that they need to do 351 00:21:44,960 --> 00:21:48,080 Speaker 1: their part to keep the sport, both in terms of 352 00:21:48,119 --> 00:21:52,240 Speaker 1: behavior and in terms of attitude. Do their part in 353 00:21:52,359 --> 00:21:55,800 Speaker 1: keeping that bond with the fans because you're asking them 354 00:21:55,880 --> 00:21:59,800 Speaker 1: to pay money to sit in a stadium, and you're 355 00:21:59,800 --> 00:22:03,960 Speaker 1: asking them to watch television, you're asking them to buy memorabilia. 356 00:22:04,160 --> 00:22:06,439 Speaker 1: And then if you take that next step, what the 357 00:22:06,520 --> 00:22:10,840 Speaker 1: popularity affords them the opportunity to do. The adage was, 358 00:22:11,080 --> 00:22:13,000 Speaker 1: you know, athletes wanted to be rock stars, and rock 359 00:22:13,040 --> 00:22:16,199 Speaker 1: stars want to be athletes. Now what I'm seeing is 360 00:22:16,280 --> 00:22:19,359 Speaker 1: athletes that want to be tech investors. They want to 361 00:22:19,400 --> 00:22:22,880 Speaker 1: be venture capitalists. How do you wrap your arm around that, 362 00:22:23,119 --> 00:22:26,840 Speaker 1: and how do you convey to your clients that they 363 00:22:26,880 --> 00:22:29,399 Speaker 1: too can have an entree to this world if they 364 00:22:29,440 --> 00:22:31,480 Speaker 1: put the time in and if it's if it's what 365 00:22:31,520 --> 00:22:34,359 Speaker 1: they want to do. So we asked them to go 366 00:22:34,440 --> 00:22:36,840 Speaker 1: back to the high school set up a scarship on 367 00:22:37,080 --> 00:22:41,280 Speaker 1: keep routs. There. At the college level, the alarms at 368 00:22:41,280 --> 00:22:44,520 Speaker 1: a number of different schools primarily relate to it through 369 00:22:44,640 --> 00:22:48,879 Speaker 1: the football or basketball program. So we asked them to 370 00:22:49,840 --> 00:22:53,040 Speaker 1: in Dallas scholarship produce something to bond with them. Well 371 00:22:53,080 --> 00:22:57,920 Speaker 1: that leads to UH and and finally at the pro 372 00:22:58,080 --> 00:23:00,960 Speaker 1: level doing a charitable foundations. So you have a player 373 00:23:00,960 --> 00:23:03,840 Speaker 1: on the forty niners and you ask him, uh, can 374 00:23:03,880 --> 00:23:08,919 Speaker 1: you think of any businesses approximate to Santa Clara that 375 00:23:09,200 --> 00:23:12,840 Speaker 1: might be good for second career? Well, venture capital, high tech. 376 00:23:13,240 --> 00:23:16,400 Speaker 1: So it's not by chance that Brent Jones, the retired 377 00:23:16,440 --> 00:23:20,480 Speaker 1: tight end that I represented, put together a several billion 378 00:23:20,560 --> 00:23:26,159 Speaker 1: dollar hedge fund um that Steve Young has bought and 379 00:23:26,240 --> 00:23:30,480 Speaker 1: soul of a variety of companies in that sphere. That 380 00:23:30,840 --> 00:23:34,320 Speaker 1: so we use the offseason, first of all, teach the 381 00:23:34,359 --> 00:23:37,199 Speaker 1: athletes at a network so they can walk up in 382 00:23:37,280 --> 00:23:40,880 Speaker 1: a room at a banquet to that businessman who might 383 00:23:40,920 --> 00:23:44,080 Speaker 1: be in high tech, who might be in an interesting industry, 384 00:23:44,760 --> 00:23:48,879 Speaker 1: focus on them, ask him for his card, put a 385 00:23:49,000 --> 00:23:54,000 Speaker 1: rollerdex together. And so this is how Bruce Smith, the 386 00:23:54,080 --> 00:23:59,560 Speaker 1: retired defensive end owns the UM part of the of 387 00:23:59,760 --> 00:24:03,720 Speaker 1: the Adelaide Oriental Hotel in Washington, d C. This is 388 00:24:04,200 --> 00:24:09,160 Speaker 1: actually a two players who became minority owners of NFL teams. 389 00:24:09,520 --> 00:24:13,480 Speaker 1: Uh Ron Cherry owned part of the Jacksonville Jaguars and 390 00:24:13,560 --> 00:24:16,760 Speaker 1: Ray Childer's currently owns part of the Houston Texans. So 391 00:24:16,800 --> 00:24:19,280 Speaker 1: that they understands rich and there's wealthy. I mean, I 392 00:24:19,359 --> 00:24:23,560 Speaker 1: think players today understand the difference between rich and wealthy, 393 00:24:23,680 --> 00:24:27,280 Speaker 1: and wealthy is the ability to own a team. So 394 00:24:27,600 --> 00:24:32,280 Speaker 1: my point is we're pointing them all towards UH leadership 395 00:24:32,320 --> 00:24:36,639 Speaker 1: that they can run businesses. UM. Earl Campbell, who I 396 00:24:36,920 --> 00:24:42,480 Speaker 1: work with, has a meat packing company that is can't 397 00:24:42,480 --> 00:24:46,800 Speaker 1: pack the meat fast enough. That happened because University of 398 00:24:46,800 --> 00:24:50,160 Speaker 1: Texas alums took them under their wing. So the bright 399 00:24:50,240 --> 00:24:55,080 Speaker 1: athlete who understands the power of the college and pro community, 400 00:24:55,119 --> 00:25:00,760 Speaker 1: who understands networking UM has his brand and then he 401 00:25:00,880 --> 00:25:04,640 Speaker 1: has an entree to be a leader in business. And 402 00:25:05,119 --> 00:25:09,200 Speaker 1: my ultimate goal is the players as owners, so that 403 00:25:09,280 --> 00:25:15,160 Speaker 1: they get to the point where Um, instead of being 404 00:25:15,200 --> 00:25:19,440 Speaker 1: the employee, they're the owner. And drawn Cherry, who plays 405 00:25:19,440 --> 00:25:23,280 Speaker 1: in Kansas City, owns the Anheuser bushes sugar ships there. 406 00:25:23,800 --> 00:25:27,600 Speaker 1: Uh and then that that's what led Um, the Jackson 407 00:25:27,680 --> 00:25:31,680 Speaker 1: vote Jaguar owner, to be interested. So we're consciously pushing 408 00:25:31,760 --> 00:25:38,119 Speaker 1: players towards enhanced roles so that the retirement just goes 409 00:25:38,160 --> 00:25:41,240 Speaker 1: straight onto an exciting second career. To be able to 410 00:25:41,240 --> 00:25:43,560 Speaker 1: do that, obviously, you need to be smart with your 411 00:25:43,600 --> 00:25:46,960 Speaker 1: money when you're making it as a player. Are players 412 00:25:47,040 --> 00:25:49,560 Speaker 1: starting to think about that earlier now that than they 413 00:25:49,600 --> 00:25:51,840 Speaker 1: may have been twenty years ago? I mean, when you 414 00:25:51,880 --> 00:25:54,280 Speaker 1: think about maybe not Patrick Mahomes who's making a lot 415 00:25:54,359 --> 00:25:57,320 Speaker 1: of money, but instead you know a client of yours 416 00:25:57,320 --> 00:25:59,280 Speaker 1: who might not be making as much, how much are 417 00:25:59,320 --> 00:26:01,439 Speaker 1: they starting to think about? Are you forcing them to 418 00:26:01,440 --> 00:26:04,400 Speaker 1: think about saving for life when when that paycheck isn't 419 00:26:04,400 --> 00:26:07,800 Speaker 1: coming in as early. The first fortunate thing is that 420 00:26:07,960 --> 00:26:12,959 Speaker 1: at college campuses across the country, they're moving towards lifetime 421 00:26:13,240 --> 00:26:17,480 Speaker 1: education experiences. So the athletes that many many schools are 422 00:26:17,520 --> 00:26:21,520 Speaker 1: getting financial advice while they're still on the campus. Then 423 00:26:21,560 --> 00:26:24,800 Speaker 1: we make sure that they hook up with the right 424 00:26:25,440 --> 00:26:31,440 Speaker 1: financial planners so that they understand the concept that they 425 00:26:31,560 --> 00:26:33,879 Speaker 1: will not be earning this amount of money. They can't 426 00:26:33,960 --> 00:26:38,400 Speaker 1: project it into the future, that this may be one 427 00:26:38,560 --> 00:26:42,600 Speaker 1: seven year experience and then they have to transition somewhere else. 428 00:26:42,640 --> 00:26:47,680 Speaker 1: So they're they're surrounded by people, and our athletes are 429 00:26:47,720 --> 00:26:50,480 Speaker 1: so afraid of the horror stories they've read about the 430 00:26:50,520 --> 00:26:55,600 Speaker 1: past that they get good financial planners. They learn how 431 00:26:55,640 --> 00:26:58,040 Speaker 1: to budget, they learn how to do all sorts of things. 432 00:26:58,119 --> 00:27:04,200 Speaker 1: Our goal with our athletes is to um have them 433 00:27:04,640 --> 00:27:09,080 Speaker 1: um live if we can off the endorsement income and 434 00:27:09,640 --> 00:27:12,119 Speaker 1: uh save all the money that they actually make in 435 00:27:12,119 --> 00:27:14,960 Speaker 1: the sport. How I mean, I've I've heard the horror 436 00:27:15,000 --> 00:27:19,000 Speaker 1: stories as well. In your estimation, what percentage of NFL 437 00:27:19,040 --> 00:27:22,320 Speaker 1: players are, you know, just blowing through their money? How 438 00:27:22,320 --> 00:27:26,480 Speaker 1: many are not being financially responsible? So when they come 439 00:27:26,520 --> 00:27:29,359 Speaker 1: off the college campus, there are all sorts of people 440 00:27:29,400 --> 00:27:33,720 Speaker 1: that can help them select financial planners, um or agents, 441 00:27:33,840 --> 00:27:39,280 Speaker 1: including compliance on a college campus. The players that come 442 00:27:39,400 --> 00:27:45,400 Speaker 1: from strong families where those due diligence in the selection process, 443 00:27:45,520 --> 00:27:49,399 Speaker 1: those players end up being incredibly well healed over time. 444 00:27:50,000 --> 00:27:54,680 Speaker 1: The players that don't afford themselves have any screening when 445 00:27:54,760 --> 00:27:56,840 Speaker 1: they come off, those are the ones get in trouble, 446 00:27:56,880 --> 00:28:00,560 Speaker 1: and they get in trouble number one because it takes 447 00:28:00,560 --> 00:28:04,280 Speaker 1: a village, so they feel like they're the support of 448 00:28:04,880 --> 00:28:08,800 Speaker 1: not just family, that extended family and extended friendships and 449 00:28:08,840 --> 00:28:14,440 Speaker 1: all the rest or really horrific investments, which doesn't happen 450 00:28:14,680 --> 00:28:19,400 Speaker 1: as often anymore. Divorce is one of the leading causes 451 00:28:19,480 --> 00:28:24,159 Speaker 1: for athletic bankruptcy. Um, So if you've so, the answer 452 00:28:24,160 --> 00:28:27,919 Speaker 1: your question is, and there are probably twenty five percent 453 00:28:28,000 --> 00:28:34,040 Speaker 1: athletes who are not um following what we consider prudent advice, 454 00:28:34,200 --> 00:28:38,720 Speaker 1: but the vast majority of them are. And um, there's 455 00:28:38,760 --> 00:28:41,800 Speaker 1: no real excuse for any athlete who's a top draft 456 00:28:41,880 --> 00:28:45,480 Speaker 1: pick or a starter in their profession not to walk 457 00:28:45,520 --> 00:28:49,280 Speaker 1: out of the game with lifetime security. That's to tell 458 00:28:49,320 --> 00:28:51,440 Speaker 1: me we we got to wrap it up here, Lee. 459 00:28:51,440 --> 00:28:54,360 Speaker 1: How long until we see pats smiling face on a 460 00:28:54,440 --> 00:28:59,680 Speaker 1: catchup jar? I think that will happen this offseason, all right? 461 00:29:00,040 --> 00:29:02,040 Speaker 1: At Lea Steinberg, thank you very much for taking the time, 462 00:29:02,440 --> 00:29:06,960 Speaker 1: pleasure takeaways and been just how much the business has changed. 463 00:29:07,000 --> 00:29:08,959 Speaker 1: It's really fun to talk to somebody likely who has 464 00:29:09,000 --> 00:29:11,760 Speaker 1: been doing this for such a long time. What did 465 00:29:11,760 --> 00:29:13,840 Speaker 1: he say revenue for these teams or what what was it? 466 00:29:17,400 --> 00:29:20,440 Speaker 1: Plus they're getting that in like l A or Oakland 467 00:29:20,800 --> 00:29:23,920 Speaker 1: or relocation for you alone this year. It's unbelievable to 468 00:29:24,000 --> 00:29:26,040 Speaker 1: have a guy who can tell you what the business 469 00:29:26,160 --> 00:29:29,959 Speaker 1: was then and all that's gone on, and then how 470 00:29:30,000 --> 00:29:32,080 Speaker 1: the business has changed for him and the teams and 471 00:29:32,120 --> 00:29:35,160 Speaker 1: the athletes now. Yeah, to takeaways for me, one the 472 00:29:35,160 --> 00:29:37,680 Speaker 1: fact that you once wore suspenders in a tie. I 473 00:29:37,720 --> 00:29:40,280 Speaker 1: have a picture and I think I have a pictures 474 00:29:40,400 --> 00:29:44,560 Speaker 1: Bob Bench and I were there. I have to find it, 475 00:29:45,360 --> 00:29:49,080 Speaker 1: find it. But but from lee Um obviously no surprise. 476 00:29:49,160 --> 00:29:53,440 Speaker 1: But Patrick Mahomes is in for a large, hefty endorsement 477 00:29:53,480 --> 00:29:56,800 Speaker 1: pay day. It's sounds like they've deliberately kind of slow 478 00:29:56,920 --> 00:29:58,760 Speaker 1: slow rolled it. When he was a rookie last year 479 00:29:58,800 --> 00:30:01,200 Speaker 1: and wasn't playing, they had offer. Is he stayed away. 480 00:30:01,800 --> 00:30:03,800 Speaker 1: Now at the end of his second season, when he 481 00:30:03,920 --> 00:30:06,920 Speaker 1: is a bona fide NFL superstar, we're gonna see as 482 00:30:07,000 --> 00:30:09,240 Speaker 1: least at a number of these five hundred thousand dollar 483 00:30:09,280 --> 00:30:11,360 Speaker 1: deals coming in. I can't wait for the pet I 484 00:30:11,360 --> 00:30:13,880 Speaker 1: thought that was small. Did you think five thousand were small? 485 00:30:14,440 --> 00:30:18,000 Speaker 1: He's in Kansas City, he's a second year player. Yes, 486 00:30:18,040 --> 00:30:25,120 Speaker 1: I would imagine it feels better to be number one 487 00:30:25,120 --> 00:30:27,040 Speaker 1: than number five. I'll wear a number because of Mike. 488 00:30:27,120 --> 00:30:28,640 Speaker 1: We have a chance to go for three in a row. 489 00:30:28,720 --> 00:30:30,640 Speaker 1: Kid numbers in a good time, and let's first started 490 00:30:30,640 --> 00:30:34,080 Speaker 1: wearing the number. I would just have the Floomberg business 491 00:30:34,080 --> 00:30:36,880 Speaker 1: of sports. The number of the week. All right, let's 492 00:30:36,920 --> 00:30:39,200 Speaker 1: look at our number of the week, Ebinbi wins. We 493 00:30:39,280 --> 00:30:41,800 Speaker 1: discussed it, so it's not a guessing game this week. 494 00:30:42,040 --> 00:30:44,840 Speaker 1: Fifty three thousand and two. Would you have gotten it? Perhaps? 495 00:30:45,120 --> 00:30:48,040 Speaker 1: I think you might have gotten maybe. Uh yeah. This 496 00:30:48,120 --> 00:30:51,239 Speaker 1: is the average attendance across the entire season for for 497 00:30:51,280 --> 00:30:55,200 Speaker 1: the MLS. Uh Don Garber Atlanta. We had, you know, 498 00:30:55,280 --> 00:30:57,560 Speaker 1: we had the owner Arthur Blank on the podcast a 499 00:30:57,560 --> 00:31:00,400 Speaker 1: couple couple of months ago. They just won the MLS 500 00:31:00,480 --> 00:31:03,680 Speaker 1: Cup final. Fifty six thousand to average over a season 501 00:31:03,800 --> 00:31:06,080 Speaker 1: is is a big number. This is the first time 502 00:31:06,120 --> 00:31:09,800 Speaker 1: a US based team has cracked the top twenty of 503 00:31:09,840 --> 00:31:12,560 Speaker 1: average attendants and global soccer in like twenty years. You 504 00:31:12,560 --> 00:31:18,960 Speaker 1: look up thousand Felon seventy six thousand buyer and seventy 505 00:31:18,960 --> 00:31:23,840 Speaker 1: five thousand men. You real enter these are huge global 506 00:31:23,920 --> 00:31:30,920 Speaker 1: brand names sharing the spotlight Atlanta United above Liverpool, above Newcastle, 507 00:31:31,560 --> 00:31:34,760 Speaker 1: right below Olympique Marseilles. That's fantastic. And we've talked about 508 00:31:34,760 --> 00:31:36,640 Speaker 1: this before. But in the United States, if you look 509 00:31:36,680 --> 00:31:39,800 Speaker 1: at total tickets sold, obviously they're they're beating out, you know, 510 00:31:39,960 --> 00:31:43,640 Speaker 1: all the NHL and and NBA teams. Obviously a smaller stadium. 511 00:31:43,760 --> 00:31:46,080 Speaker 1: They also sold more tickets than the Miami Marlins this year. 512 00:31:46,280 --> 00:31:48,600 Speaker 1: I think that is amazing. Arthur said, it's more fun 513 00:31:48,640 --> 00:31:51,640 Speaker 1: than football. It's more fun than there's This is the 514 00:31:51,760 --> 00:31:54,640 Speaker 1: model for MLS moving forward, and I'm sure Don Garber 515 00:31:54,920 --> 00:31:56,920 Speaker 1: would hope that all the other new teams that are 516 00:31:56,920 --> 00:31:58,760 Speaker 1: gonna come and join the league are coming in with 517 00:31:58,840 --> 00:32:01,120 Speaker 1: this kind of following. You have been listening to The 518 00:32:01,120 --> 00:32:03,440 Speaker 1: Bloomberg Business of Sports. We are here each and every 519 00:32:03,440 --> 00:32:06,240 Speaker 1: week at the same time, plus online as an Apple podcast. 520 00:32:06,400 --> 00:32:08,959 Speaker 1: You can catch the show Monday's, Wednesdays and Thursdays. I'm 521 00:32:09,000 --> 00:32:12,160 Speaker 1: Scott Sash on Twitter at s I'm Evan Novi Williams 522 00:32:12,160 --> 00:32:15,360 Speaker 1: at nov Underscore Williams. Thanks for joining us. Please tune 523 00:32:15,360 --> 00:32:17,520 Speaker 1: in next week. When we speak with the biggest and 524 00:32:17,560 --> 00:32:19,640 Speaker 1: brightest in the sports business world, I'm gonna try to 525 00:32:19,640 --> 00:32:22,400 Speaker 1: do my best. Bar closing, you're listening to Bloomberg Business 526 00:32:22,400 --> 00:32:25,720 Speaker 1: to Sports from Bloomberg Radio around the world and online 527 00:32:25,960 --> 00:32:27,680 Speaker 1: as an Apple podcast Quere Revela