1 00:00:02,000 --> 00:00:06,080 Speaker 1: Hello, I'm Michael bar Williams and I'm Scottsnik. Every week 2 00:00:06,120 --> 00:00:08,920 Speaker 1: at this time, plus Mondays and Wednesdays, we explore the 3 00:00:08,920 --> 00:00:10,959 Speaker 1: big money issues in the world of sports. Today a 4 00:00:10,960 --> 00:00:14,840 Speaker 1: conversation with Capital Ford chairman and chief executive officer Mark 5 00:00:14,920 --> 00:00:18,279 Speaker 1: Ein on his investment in the City Open tennis tournament 6 00:00:18,280 --> 00:00:20,599 Speaker 1: in Washington. That's coming up in a few minutes, but 7 00:00:20,720 --> 00:00:23,160 Speaker 1: first let's get to some of the topics, and let's 8 00:00:23,200 --> 00:00:25,279 Speaker 1: start with Steven Ross. He is the owner of the 9 00:00:25,280 --> 00:00:29,480 Speaker 1: Miami Dolphins, and he is an investor in Equinox Gyms 10 00:00:29,480 --> 00:00:33,200 Speaker 1: and Soul Cycle. He is defending his decision to hold 11 00:00:33,240 --> 00:00:37,600 Speaker 1: a Trump fundraiser at his house in New York's Hampton's, 12 00:00:37,880 --> 00:00:40,720 Speaker 1: saying that he likes to engage directly and support the 13 00:00:40,800 --> 00:00:44,959 Speaker 1: things I deeply care about. People are now upset at 14 00:00:47,120 --> 00:00:51,479 Speaker 1: you're singing people. Some people are upset. The Soul Cycle 15 00:00:51,600 --> 00:00:55,800 Speaker 1: set seemed to be upset with Stephen Ross's decision to 16 00:00:55,960 --> 00:00:58,720 Speaker 1: support President Trump, said he's known him for forty years, 17 00:00:58,960 --> 00:01:01,240 Speaker 1: but it took a while to get to the statement. 18 00:01:01,320 --> 00:01:04,640 Speaker 1: First of all, um, Eben, do you get the sense 19 00:01:04,680 --> 00:01:09,600 Speaker 1: that Stephen Ross was not prepared for the backlash I mean, 20 00:01:09,640 --> 00:01:11,319 Speaker 1: and it came by the way, one of his own 21 00:01:11,400 --> 00:01:15,759 Speaker 1: players pointed it out that it's incongruous thes a cognitive 22 00:01:15,800 --> 00:01:22,479 Speaker 1: dissidence between you having a charitable arm that is about equality, uh, 23 00:01:22,520 --> 00:01:25,560 Speaker 1: and then supporting President Trump. That's what his players. That's 24 00:01:25,600 --> 00:01:28,399 Speaker 1: Kenny Still's wide receiver for the for the Miami Dolphins. Yeah. 25 00:01:28,440 --> 00:01:30,200 Speaker 1: I think he was maybe caught a little off guard 26 00:01:30,280 --> 00:01:32,120 Speaker 1: by both the manner in which it came out a 27 00:01:32,200 --> 00:01:36,480 Speaker 1: player of his and also kind of the fervent backlash. 28 00:01:36,600 --> 00:01:39,120 Speaker 1: I mean, it was almost instantaneous. You saw people on 29 00:01:39,160 --> 00:01:42,240 Speaker 1: Twitter talking about their Soul Cycle memberships there there, and 30 00:01:42,319 --> 00:01:46,119 Speaker 1: they're they're Equinox membership um Worth noting, you know, Steven 31 00:01:46,200 --> 00:01:48,240 Speaker 1: Ross beyond those things that you said, Michael is a 32 00:01:48,320 --> 00:01:51,520 Speaker 1: I mean a huge real estate developer. Hudson Yards here 33 00:01:51,520 --> 00:01:53,520 Speaker 1: in New York was it was a project of his company, 34 00:01:54,000 --> 00:01:58,600 Speaker 1: um Momofuku and Pizza. There is a huge development and 35 00:01:58,640 --> 00:02:01,880 Speaker 1: there is a huge amount of companies that that that 36 00:02:01,960 --> 00:02:04,040 Speaker 1: a lot of people in big cities at least interact 37 00:02:04,080 --> 00:02:06,640 Speaker 1: with almost on a daily basis, that traced their way 38 00:02:06,680 --> 00:02:10,160 Speaker 1: back to his money. Well, I want to clarify this. 39 00:02:10,760 --> 00:02:14,320 Speaker 1: People have every right if you are a personal you know, 40 00:02:14,480 --> 00:02:17,320 Speaker 1: you want to do your personal whatever, and you want 41 00:02:17,320 --> 00:02:22,600 Speaker 1: to support presidential candidate. Ross did say that I've known 42 00:02:22,840 --> 00:02:27,239 Speaker 1: Donald Trump for forty years. I'm all about helping the economy. 43 00:02:27,360 --> 00:02:30,080 Speaker 1: This is why I want to be a part of this, 44 00:02:30,120 --> 00:02:33,160 Speaker 1: so I can help grow the economy. And the President 45 00:02:33,160 --> 00:02:36,040 Speaker 1: and I disagree on a number of issues, he said, 46 00:02:36,080 --> 00:02:39,200 Speaker 1: I don't agree with the man on everything, but I 47 00:02:39,240 --> 00:02:41,760 Speaker 1: do think it's important to be involved to help the economy. 48 00:02:41,880 --> 00:02:43,680 Speaker 1: So there he is. A couple of years ago, there 49 00:02:43,680 --> 00:02:46,440 Speaker 1: were nine, I think nine different NFL owners who had 50 00:02:46,440 --> 00:02:49,800 Speaker 1: either donated to Donald Trump's campaign or to his inauguration. 51 00:02:50,000 --> 00:02:52,280 Speaker 1: I don't believe Steven Ross was one of them. Um, 52 00:02:52,320 --> 00:02:55,440 Speaker 1: but that list included Bob McNair and included Shad con 53 00:02:55,480 --> 00:02:58,800 Speaker 1: Down and Jackson. Major difference that made Johnson major difference. 54 00:02:58,840 --> 00:03:02,680 Speaker 1: That was before he was president and what some would say, again, 55 00:03:02,720 --> 00:03:05,720 Speaker 1: we are not making judgments here as to right wrong. Yes, no, 56 00:03:06,639 --> 00:03:12,919 Speaker 1: but before the policies were enacted as president. So those 57 00:03:12,919 --> 00:03:15,239 Speaker 1: are those are two different things when you're donating to 58 00:03:15,280 --> 00:03:18,200 Speaker 1: get him elected president for the for the first time 59 00:03:18,840 --> 00:03:24,359 Speaker 1: and now supporting a reelection having seen what has occurred 60 00:03:25,200 --> 00:03:27,359 Speaker 1: during his tenure. Those are two different. And we saw 61 00:03:27,400 --> 00:03:30,160 Speaker 1: some cycle come out and say that he's a passive investor, 62 00:03:30,280 --> 00:03:32,359 Speaker 1: is not in any way actually involved in the company. 63 00:03:32,400 --> 00:03:35,480 Speaker 1: I mean, I can't imagine that this in any way 64 00:03:35,680 --> 00:03:39,760 Speaker 1: harms Stephen Ross's business in the overall. I mean, do 65 00:03:39,800 --> 00:03:42,680 Speaker 1: either you guys disagree with them? The man's a billionaire, 66 00:03:42,720 --> 00:03:46,080 Speaker 1: so does he feel it? You wouldn't think you'd feel 67 00:03:46,080 --> 00:03:49,440 Speaker 1: it in the pocketbook. No, Speaking of upset, Lebron James 68 00:03:49,520 --> 00:03:52,120 Speaker 1: is upset. And the reason why is that the n 69 00:03:52,120 --> 00:03:56,560 Speaker 1: c double A wants agents to have a college degree. 70 00:03:56,760 --> 00:04:00,880 Speaker 1: And I gotta disagree with Lebron on on this one. 71 00:04:01,640 --> 00:04:07,600 Speaker 1: In that Rich Paul, of course, his childhood friend and 72 00:04:07,760 --> 00:04:15,120 Speaker 1: now agent, also represents Anthony Davis, also represents Draymond Green, 73 00:04:15,720 --> 00:04:22,200 Speaker 1: perhaps arguably the most powerful agent in the National Basketball Association, 74 00:04:22,920 --> 00:04:28,080 Speaker 1: just sold Clutch Sports to United Talent Agency for three 75 00:04:28,200 --> 00:04:31,160 Speaker 1: hundred million dollars. Will now be the CEO of the 76 00:04:31,200 --> 00:04:38,200 Speaker 1: sports component of U t A. This rule is designed 77 00:04:38,279 --> 00:04:44,039 Speaker 1: to affect players, college players who are on the margins. 78 00:04:44,560 --> 00:04:48,679 Speaker 1: They're gonna go and test the NBA waters and say, 79 00:04:50,000 --> 00:04:52,640 Speaker 1: am I getting good advice? Should I go back to school? 80 00:04:53,200 --> 00:04:56,159 Speaker 1: Correct me? If I'm wrong, and he may engage some 81 00:04:56,240 --> 00:04:59,560 Speaker 1: of those players. But Rich Paul's about the krem de 82 00:04:59,640 --> 00:05:03,000 Speaker 1: la m. Rich Paul will have his pick of the 83 00:05:03,120 --> 00:05:08,000 Speaker 1: shore fire kid from Kentucky, from Duke. He's about the 84 00:05:08,040 --> 00:05:11,880 Speaker 1: best college basketball players. I'm not so sure this is 85 00:05:11,960 --> 00:05:14,599 Speaker 1: aimed at Rich Paul. No, this is a This is 86 00:05:14,600 --> 00:05:16,880 Speaker 1: a question of of the n c a A putting 87 00:05:18,000 --> 00:05:20,280 Speaker 1: what a lot of people think is an onerous requirement 88 00:05:20,560 --> 00:05:22,600 Speaker 1: on on a new thing that they're offering to college 89 00:05:22,600 --> 00:05:24,760 Speaker 1: to college, of course, but that's not the point. Lebron 90 00:05:24,839 --> 00:05:28,919 Speaker 1: Mission is angry about Rachel Brown is saying this is 91 00:05:28,960 --> 00:05:31,520 Speaker 1: aimed at Rich Paul. But there is a ridiculous There 92 00:05:31,560 --> 00:05:35,760 Speaker 1: is a wider, better point. There's that an agent doesn't 93 00:05:35,800 --> 00:05:37,919 Speaker 1: need to have a college degree to be effected. You 94 00:05:37,960 --> 00:05:39,880 Speaker 1: can have a bad agent who has a college degree, 95 00:05:39,920 --> 00:05:43,080 Speaker 1: who has a graduate degree. Um. This is a requirement 96 00:05:43,120 --> 00:05:46,480 Speaker 1: that the n b p A theoretically has for its agents, 97 00:05:46,520 --> 00:05:49,320 Speaker 1: but it does not enforce obviously because Rich doesn't well. Also, 98 00:05:49,400 --> 00:05:51,760 Speaker 1: one the end the ends, the NBA has a union 99 00:05:52,920 --> 00:05:55,960 Speaker 1: and its players are unionized. That's not true in college. 100 00:05:55,960 --> 00:05:58,080 Speaker 1: That's the difference here. Yes, the n c A should 101 00:05:58,200 --> 00:06:02,080 Speaker 1: have a better way of of evaluating and and and 102 00:06:02,160 --> 00:06:05,160 Speaker 1: approving and licensing agents and demanding that they have a 103 00:06:05,200 --> 00:06:07,640 Speaker 1: college degree. I want to talk real quick about Simone 104 00:06:07,640 --> 00:06:13,080 Speaker 1: Biles US gymnasts, and she is upset with the USA Gymnastics. 105 00:06:13,080 --> 00:06:16,000 Speaker 1: She said, look, you had one job and you fail 106 00:06:16,040 --> 00:06:20,200 Speaker 1: to protect athletes in the abuse scandal. And she's still 107 00:06:20,279 --> 00:06:22,440 Speaker 1: upset about it. And she's twenty two to this day. 108 00:06:22,480 --> 00:06:26,200 Speaker 1: And it was a tearful UH comment that she made 109 00:06:26,360 --> 00:06:31,479 Speaker 1: about all of the abuse that her fellow athletes had 110 00:06:31,520 --> 00:06:34,640 Speaker 1: to go through. Yeah. And there is no more powerful 111 00:06:34,760 --> 00:06:37,960 Speaker 1: name in gymnastics right now than Simone Boss. So if 112 00:06:38,080 --> 00:06:42,360 Speaker 1: she feels that she can use the celebrity UH to 113 00:06:43,240 --> 00:06:46,840 Speaker 1: force change, to open eyes to all of it, good 114 00:06:46,839 --> 00:06:52,520 Speaker 1: for Simone Biles because obviously the USA gymnastics scenario has 115 00:06:52,560 --> 00:06:56,240 Speaker 1: just been beyond beyond. Yeah. And and you know, we're 116 00:06:56,320 --> 00:07:00,000 Speaker 1: less than a year away from the Tokyo Olympics. There 117 00:07:00,080 --> 00:07:03,120 Speaker 1: USA is Gymnastics is gonna need to send a men's 118 00:07:03,120 --> 00:07:05,360 Speaker 1: and a women's team to Tokyo. You know, there's still 119 00:07:05,360 --> 00:07:09,080 Speaker 1: this potential specter of being desertified by the U s 120 00:07:09,080 --> 00:07:11,400 Speaker 1: O C. I mean, the government is looking at the 121 00:07:11,440 --> 00:07:13,440 Speaker 1: whole thing is a mess right now. And she's right 122 00:07:13,480 --> 00:07:15,600 Speaker 1: to be frustrated, right She's twenty two, she this this 123 00:07:15,680 --> 00:07:17,400 Speaker 1: might be her last Olympic. Who knows it might be 124 00:07:17,440 --> 00:07:20,440 Speaker 1: your last or second to last. Um. But yeah, the 125 00:07:20,520 --> 00:07:22,600 Speaker 1: good for her for being the most powerful person in 126 00:07:22,640 --> 00:07:25,000 Speaker 1: the sport and also keeping this RELI I gotta tell 127 00:07:25,000 --> 00:07:30,640 Speaker 1: you if I had an an Olympia young Olympian swimming gymnastics, 128 00:07:30,720 --> 00:07:34,360 Speaker 1: I don't care whatever. You better be sure I am 129 00:07:34,440 --> 00:07:39,480 Speaker 1: there every step of the way, am as dad as whatever. 130 00:07:40,520 --> 00:07:43,920 Speaker 1: I'm sorry that I am there every step of the way. 131 00:07:44,120 --> 00:07:47,320 Speaker 1: First I should add that Biles says that she was 132 00:07:47,400 --> 00:07:50,320 Speaker 1: one of the hundreds of athletes abused by Larry Nasser, 133 00:07:50,400 --> 00:07:54,040 Speaker 1: the former U S gymnastics national team doctor, over the 134 00:07:54,080 --> 00:07:58,680 Speaker 1: span of two decades. And if you remember also when 135 00:07:58,800 --> 00:08:02,960 Speaker 1: Nasa was in court and there was a parent of 136 00:08:03,160 --> 00:08:07,920 Speaker 1: one of the athletes who was abused, and and he 137 00:08:07,960 --> 00:08:11,280 Speaker 1: tried to get at him, and and I remember the 138 00:08:11,280 --> 00:08:14,400 Speaker 1: the officer in court holding him down saying, I know 139 00:08:14,480 --> 00:08:17,160 Speaker 1: how you feel, but you know you can't do that. 140 00:08:17,760 --> 00:08:20,360 Speaker 1: And I understand what you're saying. I'd be right there 141 00:08:20,400 --> 00:08:23,360 Speaker 1: look at the splint for sure. Now let's get to 142 00:08:23,560 --> 00:08:25,880 Speaker 1: this week's interview with Mark and he's the chairman and 143 00:08:25,960 --> 00:08:30,560 Speaker 1: CEO of Capital four and he's investing in Washington's City 144 00:08:30,680 --> 00:08:33,840 Speaker 1: Open tennis tournament, looking to make it a destination event 145 00:08:33,880 --> 00:08:37,360 Speaker 1: in the Beltway. He's also a former Open for the 146 00:08:37,360 --> 00:08:40,800 Speaker 1: City Open ball boy, at which I didn't know about. 147 00:08:41,640 --> 00:08:44,400 Speaker 1: I will do better research the next time. Uh. We're 148 00:08:44,400 --> 00:08:47,040 Speaker 1: pleased to welcome him to Bloomberg Business of Sports. We 149 00:08:47,160 --> 00:08:49,959 Speaker 1: are Mark. We're a few days past the City Open. 150 00:08:50,120 --> 00:08:52,240 Speaker 1: Why don't you give me a little post mortem? How 151 00:08:52,280 --> 00:08:55,199 Speaker 1: did it go? Yeah, it was an unbelievable week. Um, 152 00:08:55,840 --> 00:08:57,800 Speaker 1: this is a fifty year old of that in our community. 153 00:08:57,800 --> 00:08:59,360 Speaker 1: That actually I was the ball kid when I was 154 00:08:59,360 --> 00:09:01,960 Speaker 1: a little kid. And we took over the event this 155 00:09:02,080 --> 00:09:07,600 Speaker 1: year and our theme was reimagining great Washington summer tennis tradition, 156 00:09:07,679 --> 00:09:09,720 Speaker 1: and so we looked at every part of the event, 157 00:09:10,360 --> 00:09:13,080 Speaker 1: from the food, to the hospitality, to the merchandise, even 158 00:09:13,080 --> 00:09:17,000 Speaker 1: the chairs the people sat in. And it was unbelievable. 159 00:09:17,440 --> 00:09:22,080 Speaker 1: We broke the all time ticket record by Tuesday. Um, 160 00:09:22,200 --> 00:09:26,760 Speaker 1: concession sales were double previous years. What it just proved 161 00:09:26,840 --> 00:09:29,320 Speaker 1: is if you put on a high quality product around 162 00:09:29,440 --> 00:09:33,960 Speaker 1: a tennis great world class tennis events. People respond and um, 163 00:09:33,960 --> 00:09:36,560 Speaker 1: it was it was really extraordinary. What is the secret? 164 00:09:36,559 --> 00:09:39,760 Speaker 1: What is the high quality aspect around just the tennis 165 00:09:39,760 --> 00:09:42,199 Speaker 1: that you guys put in this year? Yeah, a lot 166 00:09:42,240 --> 00:09:44,760 Speaker 1: of it really did center around the fan experience. So 167 00:09:44,840 --> 00:09:47,360 Speaker 1: we built there. Never had been a place for non 168 00:09:47,440 --> 00:09:50,120 Speaker 1: v I t s to go indoors in the tournament. 169 00:09:50,520 --> 00:09:53,280 Speaker 1: There was never an area, So we built a gigantic 170 00:09:53,360 --> 00:09:58,200 Speaker 1: food pavilion with some of Washington's best restaurants. We did 171 00:09:58,200 --> 00:10:00,880 Speaker 1: tennis talks in there every day, we did the draws 172 00:10:00,920 --> 00:10:02,920 Speaker 1: in there, we had a DJ, we had a huge bar, 173 00:10:03,600 --> 00:10:07,280 Speaker 1: amazing food and um. It was on the other side 174 00:10:07,280 --> 00:10:09,680 Speaker 1: of the site from where people had usually eaten and 175 00:10:09,720 --> 00:10:11,959 Speaker 1: so we were a little worried what people go find it. 176 00:10:12,520 --> 00:10:14,960 Speaker 1: We opened our doors on Saturday of qualifying and the 177 00:10:15,040 --> 00:10:18,000 Speaker 1: place was jammed from morning until night. So that was 178 00:10:18,040 --> 00:10:19,760 Speaker 1: a big piece of it. But then there was there 179 00:10:19,840 --> 00:10:23,080 Speaker 1: was other fantastic little food things all over the ground, 180 00:10:23,200 --> 00:10:27,000 Speaker 1: cards selling stuff and um. And then just attention to detail. 181 00:10:27,160 --> 00:10:29,280 Speaker 1: And we're just a huge I'm a huge believer that 182 00:10:29,800 --> 00:10:33,720 Speaker 1: people notice all the little details. Uh, they noticed when 183 00:10:34,000 --> 00:10:36,960 Speaker 1: when people look like they're tending to every little thing. 184 00:10:37,120 --> 00:10:40,160 Speaker 1: And the aggregate result of it is people came and 185 00:10:40,160 --> 00:10:41,640 Speaker 1: tried it in the beginning of the week and then 186 00:10:41,679 --> 00:10:43,559 Speaker 1: they just kept coming back and back and back. The 187 00:10:43,640 --> 00:10:46,520 Speaker 1: last four sessions sessions were sold out. Seven of the 188 00:10:46,559 --> 00:10:49,400 Speaker 1: eleven days were sold out. And Mark, I'm curious, do 189 00:10:49,480 --> 00:10:53,280 Speaker 1: you subscribe to the David Stern theory of management and 190 00:10:53,360 --> 00:10:57,720 Speaker 1: that micromanagement is underrated or if you walk around and 191 00:10:57,760 --> 00:11:00,840 Speaker 1: see everything or did you only gate and say all right, 192 00:11:00,840 --> 00:11:02,960 Speaker 1: everybody take care of it in a way that you 193 00:11:03,040 --> 00:11:05,520 Speaker 1: know I wanted to be done. It is boats no 194 00:11:05,640 --> 00:11:08,280 Speaker 1: one person can do it, and we had a massive 195 00:11:08,320 --> 00:11:11,520 Speaker 1: amount of people who worked unbelievably hard, who are really 196 00:11:11,559 --> 00:11:15,520 Speaker 1: talented UM and so it really was an army of 197 00:11:15,520 --> 00:11:17,640 Speaker 1: people who made this happen and working for months and 198 00:11:17,679 --> 00:11:21,920 Speaker 1: months to get there. But for seven eight days I 199 00:11:22,000 --> 00:11:27,200 Speaker 1: was moving trash cans um through, literally moving chairs around, 200 00:11:27,760 --> 00:11:31,120 Speaker 1: looking at every little thing that needed to be attended to. 201 00:11:31,200 --> 00:11:35,079 Speaker 1: And I do think when you look at great consumer products, 202 00:11:35,160 --> 00:11:39,520 Speaker 1: great consumer events, usually there is a person for one 203 00:11:39,600 --> 00:11:43,200 Speaker 1: or two people who are sort of attentive at that 204 00:11:43,280 --> 00:11:46,040 Speaker 1: level of detail, UM, and then a team of people 205 00:11:46,040 --> 00:11:48,040 Speaker 1: who can go execute when they see it. So it's 206 00:11:48,080 --> 00:11:52,040 Speaker 1: a little bit of combination, but definitely UM, definitely driving 207 00:11:52,080 --> 00:11:56,040 Speaker 1: to personally to do whatever it took to make an 208 00:11:56,040 --> 00:11:59,280 Speaker 1: amazing event. When you have gone as a consumer, as 209 00:11:59,320 --> 00:12:03,120 Speaker 1: a fan to various events, which one or two sticks 210 00:12:03,120 --> 00:12:05,040 Speaker 1: out in your mind, you say this is the way 211 00:12:05,040 --> 00:12:08,520 Speaker 1: it should be done. I would model my tournament after this. 212 00:12:09,160 --> 00:12:11,040 Speaker 1: I mean, the three that come to mind to me 213 00:12:11,600 --> 00:12:17,360 Speaker 1: are four are the Master's, Wimbledon, the US Open, and 214 00:12:17,400 --> 00:12:19,720 Speaker 1: then there's a tennis event called the Labor Cup, which 215 00:12:19,720 --> 00:12:23,679 Speaker 1: is a new event, all of which are just everything 216 00:12:23,840 --> 00:12:26,480 Speaker 1: is done at the highest level of quality. I think 217 00:12:26,520 --> 00:12:29,920 Speaker 1: the thing that I admire about the Masters so much 218 00:12:30,120 --> 00:12:33,920 Speaker 1: is it's not it's not doing everything. There's a balance 219 00:12:34,040 --> 00:12:40,400 Speaker 1: between tradition and UM and and making a great fan experience, 220 00:12:40,400 --> 00:12:43,840 Speaker 1: but also not doing too much, giving just places where 221 00:12:43,840 --> 00:12:47,080 Speaker 1: there's nothing commercial, places to walk around, not trying to 222 00:12:47,080 --> 00:12:50,560 Speaker 1: fill every space with a sign or a part something. 223 00:12:51,040 --> 00:12:55,760 Speaker 1: Wimbledon is an amazing balance of UM is an amazing 224 00:12:55,880 --> 00:13:00,480 Speaker 1: balance of UM, bunny tradition and mud during it a 225 00:13:00,960 --> 00:13:04,680 Speaker 1: The US Open is an American centric version of that 226 00:13:04,679 --> 00:13:08,319 Speaker 1: that just takes tennis and puts it nerban environment, executes 227 00:13:08,360 --> 00:13:10,400 Speaker 1: at a world class level, and then this Labor Cup 228 00:13:10,840 --> 00:13:13,480 Speaker 1: is really one of the great tennis hospitality events. So 229 00:13:14,320 --> 00:13:17,040 Speaker 1: I think imitation is the most sincere form of flattery. 230 00:13:17,080 --> 00:13:18,720 Speaker 1: And every time I go to a sporting event, I 231 00:13:18,720 --> 00:13:21,000 Speaker 1: have a pad of paper and I take notes um 232 00:13:21,360 --> 00:13:23,840 Speaker 1: and whenever we see a good idea, we borrow it 233 00:13:23,920 --> 00:13:25,960 Speaker 1: and try to try to bring it to our events. 234 00:13:25,960 --> 00:13:28,400 Speaker 1: How about the opposite question. I mean, I'm sure you 235 00:13:28,400 --> 00:13:30,560 Speaker 1: go to other sporting events besides golf and tennis. Are 236 00:13:30,559 --> 00:13:32,400 Speaker 1: there things you see other leagues that are doing and 237 00:13:32,679 --> 00:13:34,760 Speaker 1: you sit there as a fan and think, man that 238 00:13:34,920 --> 00:13:37,319 Speaker 1: this is this is why people a tendance is declining 239 00:13:37,440 --> 00:13:39,360 Speaker 1: at games like this. So this is why the experience 240 00:13:39,400 --> 00:13:41,439 Speaker 1: here is not is not what it should be. A 241 00:13:41,600 --> 00:13:45,560 Speaker 1: name names Well, you know, I'm a big basketball fan. 242 00:13:45,760 --> 00:13:48,440 Speaker 1: I have floor seats at the Wizard Um. One of 243 00:13:48,480 --> 00:13:50,600 Speaker 1: the things we did this year's we put floor seats 244 00:13:50,600 --> 00:13:53,120 Speaker 1: on the stadium court. People said, where did you get 245 00:13:53,160 --> 00:13:55,200 Speaker 1: that idea? I said, it's not hard of that's what 246 00:13:55,240 --> 00:13:57,880 Speaker 1: they do at basketball games. So we literally put twenty 247 00:13:57,960 --> 00:14:02,720 Speaker 1: seats on the court, which were a gigantic kit. They 248 00:14:02,720 --> 00:14:06,199 Speaker 1: were four thousand bucks for the week, about five bucks 249 00:14:06,200 --> 00:14:10,760 Speaker 1: per session, and I'm we're going to have We're Interestingly, 250 00:14:11,200 --> 00:14:13,559 Speaker 1: they were some of the slowest to sell. I think 251 00:14:13,600 --> 00:14:15,440 Speaker 1: it took a while for people to understand it. But 252 00:14:15,480 --> 00:14:17,760 Speaker 1: once they once they saw it, and then once they 253 00:14:17,760 --> 00:14:20,840 Speaker 1: saw Nick Carrios going over and high fiving every person 254 00:14:20,880 --> 00:14:24,000 Speaker 1: in the dream seats, after a great jot, they started 255 00:14:24,360 --> 00:14:27,000 Speaker 1: they started selling. So we're gonna have forty of those 256 00:14:27,040 --> 00:14:29,960 Speaker 1: next year. I'd be afraid to sit courtside with curios 257 00:14:31,240 --> 00:14:34,200 Speaker 1: come next Year's my guess. I think you'll enjoy it. 258 00:14:34,200 --> 00:14:36,920 Speaker 1: It's pretty exhorting. I mean, that's the thing about tennis. 259 00:14:36,920 --> 00:14:39,320 Speaker 1: It's been a part of my life. But it's even 260 00:14:39,400 --> 00:14:43,479 Speaker 1: I don't You can't appreciate the speed of these athletes, 261 00:14:43,560 --> 00:14:46,840 Speaker 1: the intensity of the points, and the speed and shape 262 00:14:46,840 --> 00:14:49,960 Speaker 1: of the ball flight unless you're on the point. There's 263 00:14:50,040 --> 00:14:54,080 Speaker 1: something very different. It does not translate the athleticism does 264 00:14:54,120 --> 00:14:57,120 Speaker 1: not translate fully to TV, and it doesn't even fully 265 00:14:57,160 --> 00:14:59,680 Speaker 1: translate if you're removed in the stadium when you get 266 00:14:59,720 --> 00:15:02,440 Speaker 1: on the court. Every person I brought down there was 267 00:15:02,520 --> 00:15:05,960 Speaker 1: completely blown away. So but but it's a broader theme 268 00:15:06,000 --> 00:15:09,720 Speaker 1: about the ascension of basketball is just they've made the 269 00:15:09,760 --> 00:15:13,880 Speaker 1: sport accessible. The athletes are social media savvy. People sit 270 00:15:13,960 --> 00:15:17,080 Speaker 1: on the court, you know, they don't wear hats and 271 00:15:17,160 --> 00:15:19,480 Speaker 1: face masks and everything else. You feel like you can 272 00:15:19,520 --> 00:15:21,760 Speaker 1: relate to them, like you can get to know them, 273 00:15:21,880 --> 00:15:23,800 Speaker 1: and that was something that we tried to do with 274 00:15:23,880 --> 00:15:27,320 Speaker 1: our event here. I actually do think the next generation 275 00:15:27,360 --> 00:15:31,200 Speaker 1: of tennis players get that, and people like Nick Karrios 276 00:15:31,280 --> 00:15:35,480 Speaker 1: and Jeanie Bouchard and Serena Williams are very social media savvy, 277 00:15:35,520 --> 00:15:39,840 Speaker 1: have gigantic following and um actually, I'm very optimistic about 278 00:15:39,880 --> 00:15:41,840 Speaker 1: the future of the sport because the next generation being 279 00:15:41,920 --> 00:15:45,400 Speaker 1: athletes are terrific. They're terrific tennis players, but they're also 280 00:15:45,600 --> 00:15:48,640 Speaker 1: very good at engaging fans. Mark again, thanks for talking 281 00:15:48,680 --> 00:15:50,640 Speaker 1: with us. Now let's talk about the future of tennis. 282 00:15:50,680 --> 00:15:54,400 Speaker 1: Even Serena Williams at some point has to hand things off. 283 00:15:54,720 --> 00:15:56,880 Speaker 1: They have to hand the baton to the young guns. 284 00:15:57,360 --> 00:15:59,680 Speaker 1: What do you see for the future of tennis and 285 00:16:00,000 --> 00:16:03,680 Speaker 1: in connecting to the new star for sure. So we 286 00:16:03,760 --> 00:16:06,240 Speaker 1: were really fortunate that a couple of weeks before our event, 287 00:16:06,320 --> 00:16:09,840 Speaker 1: Coco Golf, after her Wimbledon run, her family called and 288 00:16:09,840 --> 00:16:12,280 Speaker 1: said they wanted to make her next appearance in d 289 00:16:12,440 --> 00:16:16,520 Speaker 1: C this week. UM. We were very lucky because due 290 00:16:16,560 --> 00:16:18,640 Speaker 1: to some arcane rules, she couldn't we couldn't give her 291 00:16:18,640 --> 00:16:21,360 Speaker 1: a wild card even in the qualifying but the day 292 00:16:21,400 --> 00:16:24,800 Speaker 1: before she ended up getting in the qualifying draw. And 293 00:16:25,040 --> 00:16:27,800 Speaker 1: you know qualifying weekend, where you have people who aren't 294 00:16:27,840 --> 00:16:31,200 Speaker 1: in the main drug qualifying usually gets a fairly sparse crowd, 295 00:16:31,360 --> 00:16:34,840 Speaker 1: and on the Sunday of qualifying it was basically a sellout. 296 00:16:35,120 --> 00:16:39,000 Speaker 1: Over seven thousand people came out to watch um and 297 00:16:39,160 --> 00:16:43,680 Speaker 1: every match Coco played just was the stands were completely full. 298 00:16:43,960 --> 00:16:46,760 Speaker 1: She ended up qualifying, losing in the first round of singles, 299 00:16:46,800 --> 00:16:49,240 Speaker 1: but then her and her partner won the doubles and 300 00:16:49,400 --> 00:16:52,800 Speaker 1: the crowds that that followed her it was extraordinary. And 301 00:16:52,880 --> 00:16:56,240 Speaker 1: it's clear not only is she captivated tennis fans, but 302 00:16:56,920 --> 00:16:59,480 Speaker 1: just people much more broadly than that, So that that's 303 00:16:59,560 --> 00:17:03,080 Speaker 1: one fantastic example. But similarly on the on the men's 304 00:17:03,120 --> 00:17:05,880 Speaker 1: and women's side, our whole strategy here was to embrace 305 00:17:06,320 --> 00:17:08,960 Speaker 1: the next On the men's side they've branded the next 306 00:17:09,000 --> 00:17:11,840 Speaker 1: Gen players and there is this of which Nick Karios 307 00:17:12,000 --> 00:17:15,480 Speaker 1: is one, Francis Kiapo, Stefano, Sissy path Um, and on 308 00:17:15,520 --> 00:17:19,199 Speaker 1: the women's side, Madison, Keys and Slom Stevens and Um 309 00:17:19,240 --> 00:17:23,080 Speaker 1: and Coco coming up and with her Um and people 310 00:17:23,160 --> 00:17:26,560 Speaker 1: respond fantastically well. And it's the deep. It's the deep 311 00:17:26,960 --> 00:17:29,480 Speaker 1: set of players is not just one or two. There's 312 00:17:29,520 --> 00:17:32,280 Speaker 1: a large set of them who are arriving through the ranks. 313 00:17:32,920 --> 00:17:36,600 Speaker 1: UH may having breakthroughs during the tour, and we effectively 314 00:17:36,720 --> 00:17:40,399 Speaker 1: marketed the event around them. Rather than what tennis events 315 00:17:40,480 --> 00:17:42,560 Speaker 1: usually do is they go pay a lot of money 316 00:17:42,560 --> 00:17:46,919 Speaker 1: at one big name person come play UM. We actually 317 00:17:47,000 --> 00:17:49,359 Speaker 1: took a different approach and decided to go after this 318 00:17:49,400 --> 00:17:53,119 Speaker 1: whole next generation and it worked fantastically well. Mark. I 319 00:17:53,119 --> 00:17:55,119 Speaker 1: want to ask you actually about two specific players and 320 00:17:55,160 --> 00:17:57,440 Speaker 1: you've mentioned both of them, the first being Cocoa Golf. 321 00:17:57,640 --> 00:18:00,159 Speaker 1: Do you feel as though the age restrictions on her, 322 00:18:00,200 --> 00:18:01,880 Speaker 1: as we've talked about on this show before, and as 323 00:18:01,920 --> 00:18:03,720 Speaker 1: you know, you know she can't be a full time 324 00:18:03,880 --> 00:18:06,000 Speaker 1: w T A player for a number of years now 325 00:18:06,040 --> 00:18:08,080 Speaker 1: because she's so young, but she's had so much success 326 00:18:08,400 --> 00:18:10,080 Speaker 1: at a young age. Do you think that they are 327 00:18:10,200 --> 00:18:12,720 Speaker 1: are restrictive in a way that should be revisited or 328 00:18:12,760 --> 00:18:14,720 Speaker 1: do you think that that those rules are fair for 329 00:18:14,760 --> 00:18:19,680 Speaker 1: her right now? I think having some unramped to being 330 00:18:19,720 --> 00:18:22,800 Speaker 1: a pro athlete at that age, which is not a 331 00:18:22,880 --> 00:18:27,520 Speaker 1: full immersion is smart, um. I think though at the 332 00:18:27,560 --> 00:18:32,000 Speaker 1: same time that they that she is making people rethink 333 00:18:32,200 --> 00:18:36,640 Speaker 1: exactly what rules are appropriate and as in a lot 334 00:18:36,680 --> 00:18:39,879 Speaker 1: of things, UM, that's a that's smart. I mean in 335 00:18:39,960 --> 00:18:42,840 Speaker 1: anything you do, you want as as situations change and 336 00:18:42,880 --> 00:18:46,400 Speaker 1: new situations arise, you don't want to make one off exceptions, 337 00:18:46,440 --> 00:18:51,359 Speaker 1: but you want to see that potentially it was too restrictive, uh, 338 00:18:51,359 --> 00:18:53,439 Speaker 1: and we should loosen them up a bit. So I 339 00:18:53,440 --> 00:18:56,520 Speaker 1: don't think it should be just pre total free for 340 00:18:56,560 --> 00:19:00,200 Speaker 1: all entry onto the tour because that really did burn 341 00:19:00,240 --> 00:19:03,919 Speaker 1: out a lot of people, um in over time and 342 00:19:04,200 --> 00:19:06,760 Speaker 1: had an adverse effects. But I do think the rules 343 00:19:06,760 --> 00:19:09,639 Speaker 1: as they're currently constructed for someone like Cocoa, who has 344 00:19:09,680 --> 00:19:12,520 Speaker 1: proven her ability not just to handle the pressure on 345 00:19:12,560 --> 00:19:16,720 Speaker 1: the court, but she's an extraordinarily young, extraordinary young woman 346 00:19:16,800 --> 00:19:20,360 Speaker 1: off the court, that she should have an opportunity to play, 347 00:19:20,480 --> 00:19:22,760 Speaker 1: to play more than she currently does. And then real 348 00:19:22,840 --> 00:19:25,240 Speaker 1: quick on on Nick Curios who just want the men's 349 00:19:25,280 --> 00:19:27,080 Speaker 1: draw at the City opened, a guy who I believe 350 00:19:27,119 --> 00:19:30,400 Speaker 1: has been on your your World team tennis team as well. Um, 351 00:19:30,440 --> 00:19:32,399 Speaker 1: a guy who's a lightning rod for controversy. You know, 352 00:19:32,480 --> 00:19:35,960 Speaker 1: traditionalists in tennis, uh maybe necessarily don't think he's a 353 00:19:35,960 --> 00:19:38,400 Speaker 1: great thing for the sport. Um. But at a time 354 00:19:38,440 --> 00:19:40,040 Speaker 1: when I think a lot of the big names are 355 00:19:40,119 --> 00:19:42,600 Speaker 1: very buttoned up at least on the court, Um, where 356 00:19:42,640 --> 00:19:44,479 Speaker 1: do you kind of stand on on how healthy he 357 00:19:44,560 --> 00:19:47,240 Speaker 1: is for for tennis as that? Overall? I think Nick's 358 00:19:47,280 --> 00:19:50,679 Speaker 1: great for tennis. I mean I don't I and we're friends, 359 00:19:50,760 --> 00:19:53,080 Speaker 1: and I really I support Nick. I think Nick is great. 360 00:19:53,520 --> 00:19:57,639 Speaker 1: You know, I think sometimes lines get way across, and 361 00:19:57,760 --> 00:19:59,879 Speaker 1: Nick will be the first to admit it, you know, 362 00:20:00,080 --> 00:20:02,919 Speaker 1: looking like you're not trying and giving away games that 363 00:20:02,960 --> 00:20:07,040 Speaker 1: there's nothing good about that. But the showmanship, the engagement 364 00:20:07,080 --> 00:20:09,480 Speaker 1: of fans. Anyone who saw what happened in d C 365 00:20:09,680 --> 00:20:12,320 Speaker 1: this week would be hard pressed to not say Nick 366 00:20:12,359 --> 00:20:15,600 Speaker 1: Kryos is great for tennis. If you missed it. In 367 00:20:15,600 --> 00:20:18,000 Speaker 1: his last three matches, including the final, when he was 368 00:20:18,040 --> 00:20:20,720 Speaker 1: serving for match point, he went in the stand and 369 00:20:20,920 --> 00:20:23,560 Speaker 1: asked a fan in the stands where he should serve, 370 00:20:24,320 --> 00:20:27,800 Speaker 1: executed it, won the point, went over and hugs the fan. 371 00:20:27,880 --> 00:20:30,560 Speaker 1: I mean, it was unbelievable. As I said, he was 372 00:20:30,640 --> 00:20:33,639 Speaker 1: high fiving people in the dream seats. And you know 373 00:20:33,680 --> 00:20:36,960 Speaker 1: what else, Nick was the first person to volunteer on 374 00:20:37,040 --> 00:20:40,600 Speaker 1: Saturday of qualifying to go do Kids Day and he 375 00:20:40,680 --> 00:20:43,720 Speaker 1: was out on the court at nine am with kids 376 00:20:43,720 --> 00:20:47,080 Speaker 1: in the community. Uh, doing a clinic for kids. So 377 00:20:47,440 --> 00:20:51,560 Speaker 1: the guy is a huge heart. He's incredibly charismatic. He 378 00:20:51,800 --> 00:20:55,280 Speaker 1: brings new people into the game. Um. And if you 379 00:20:55,320 --> 00:20:57,399 Speaker 1: listen to what he said after this week, he feels 380 00:20:57,400 --> 00:20:59,800 Speaker 1: like this has been a breakthrough week for him and 381 00:21:00,080 --> 00:21:02,520 Speaker 1: up he can sort of and he again he would 382 00:21:02,560 --> 00:21:04,480 Speaker 1: be he would say it himself if he can just 383 00:21:04,520 --> 00:21:08,640 Speaker 1: get some of the sort of more outrageous stuff under control, 384 00:21:09,080 --> 00:21:12,280 Speaker 1: but not change who he is. Um. He is fantastic 385 00:21:12,320 --> 00:21:14,479 Speaker 1: for the game of tennis. Mark, you talked about the 386 00:21:14,480 --> 00:21:17,640 Speaker 1: future stars of tennis, but what about the demographic of 387 00:21:17,640 --> 00:21:20,760 Speaker 1: those in the crowd. We hear about other sports struggling 388 00:21:20,760 --> 00:21:24,040 Speaker 1: to reach younger people. What data do you have on 389 00:21:24,040 --> 00:21:27,359 Speaker 1: who's in your seats? Yeah, well we're getting our fan 390 00:21:27,560 --> 00:21:30,000 Speaker 1: data back. But I will tell you after our twelve 391 00:21:30,119 --> 00:21:33,000 Speaker 1: years of World Team Tennis is what we have learned 392 00:21:33,280 --> 00:21:36,720 Speaker 1: is that if you put on a high quality tennis 393 00:21:36,760 --> 00:21:39,359 Speaker 1: product that is as good off the court as on 394 00:21:39,400 --> 00:21:43,440 Speaker 1: the court, meaning great food, great beverage of a fans 395 00:21:43,480 --> 00:21:47,399 Speaker 1: friendly fun environment, that that pro tennis events are an 396 00:21:47,400 --> 00:21:50,159 Speaker 1: amazing on ramp to the game. And not only do 397 00:21:50,200 --> 00:21:52,919 Speaker 1: you get the hardcore tennis fans, but we've filled the 398 00:21:52,920 --> 00:21:56,080 Speaker 1: seats for twelve years in our World Team Tennis stadiums 399 00:21:56,119 --> 00:21:58,920 Speaker 1: with non hardcore tennis fans of people who might have 400 00:21:59,359 --> 00:22:02,520 Speaker 1: a casual wall or even little interaction with tennis, but 401 00:22:02,600 --> 00:22:04,359 Speaker 1: they come out and then they have a great time. 402 00:22:04,760 --> 00:22:06,880 Speaker 1: And I'm a huge I'm a huge believer. And then 403 00:22:06,960 --> 00:22:09,439 Speaker 1: people always ask how you get the crowds. I'm like, 404 00:22:09,520 --> 00:22:12,040 Speaker 1: there is there is no silver bullet, It's a layer cake. 405 00:22:12,160 --> 00:22:14,240 Speaker 1: You need to you need to think how do I 406 00:22:14,240 --> 00:22:18,000 Speaker 1: appeal to all groups from all demographics. How do I 407 00:22:18,080 --> 00:22:23,600 Speaker 1: peel the families, businesses, individuals, young, old, and The greatest 408 00:22:23,680 --> 00:22:27,199 Speaker 1: compliment we ever get and we get this consistently in 409 00:22:27,240 --> 00:22:29,040 Speaker 1: Team Tennis, and I'll tell you it's going to be 410 00:22:29,080 --> 00:22:32,280 Speaker 1: the same at the City Open, is that the events 411 00:22:32,280 --> 00:22:34,760 Speaker 1: are the greatest melting pot of our community. When you 412 00:22:34,800 --> 00:22:40,720 Speaker 1: look around the stands, it is representative of every demographic background, gender, age, 413 00:22:41,080 --> 00:22:45,280 Speaker 1: and geography, and in our diverse community, and frankly, for me, 414 00:22:45,400 --> 00:22:47,360 Speaker 1: this is not my day job, this isn't what pay 415 00:22:47,400 --> 00:22:51,200 Speaker 1: the bills. But my motivation is I think sports has 416 00:22:51,240 --> 00:22:54,920 Speaker 1: a unique ability to bring together communities in a way 417 00:22:55,359 --> 00:22:58,800 Speaker 1: that probably only music is the only other thing. And 418 00:22:58,840 --> 00:23:01,320 Speaker 1: we love farnessing the power of sports to bring people 419 00:23:01,359 --> 00:23:04,480 Speaker 1: together at a time when when we all need that 420 00:23:04,520 --> 00:23:07,040 Speaker 1: more than ever. But you do have to pay the bills. 421 00:23:07,080 --> 00:23:09,760 Speaker 1: And does the tournament do that on its own as 422 00:23:09,800 --> 00:23:12,199 Speaker 1: a standalone event? How did the Ledger look? So this 423 00:23:12,280 --> 00:23:14,439 Speaker 1: year was definitely an investment here. We had to make 424 00:23:14,480 --> 00:23:19,679 Speaker 1: big investments to reimagine the event in infrastructure and UM 425 00:23:19,720 --> 00:23:22,359 Speaker 1: and all the upgrades that we talked about that it 426 00:23:22,440 --> 00:23:25,520 Speaker 1: hasn't come in, But the financial results are going to 427 00:23:25,600 --> 00:23:28,280 Speaker 1: be much much. I mean, they're gonna be far exceed 428 00:23:28,280 --> 00:23:32,560 Speaker 1: our expectations and it's set us up for I think, 429 00:23:32,600 --> 00:23:36,560 Speaker 1: actually turning this into quite profitable event in the future. UM. 430 00:23:36,760 --> 00:23:39,959 Speaker 1: You know, obviously we had to prove what the reimagined 431 00:23:40,000 --> 00:23:42,840 Speaker 1: event looked like and have to prove that it would work. 432 00:23:42,960 --> 00:23:45,240 Speaker 1: We've now proven it and so when we go back 433 00:23:45,240 --> 00:23:50,480 Speaker 1: out for sponsors and other economic deals. I think that 434 00:23:50,600 --> 00:23:52,960 Speaker 1: the future of the event UM is going to be 435 00:23:53,040 --> 00:23:55,159 Speaker 1: very bright. Mark, don't want to let you go without 436 00:23:55,280 --> 00:23:58,000 Speaker 1: asking about the sports as well. Last year you you 437 00:23:58,080 --> 00:24:01,399 Speaker 1: led an investment group that bought the Washington Injustice for 438 00:24:01,440 --> 00:24:04,119 Speaker 1: folks who don't know, that's in the Overwatch League, which is, 439 00:24:04,160 --> 00:24:07,600 Speaker 1: you know, the big league around Activision Blizzards game Overwatch. 440 00:24:08,160 --> 00:24:10,680 Speaker 1: I'm curious what you I don't know how much your 441 00:24:10,720 --> 00:24:13,119 Speaker 1: your sports background was, but what you've learned from that 442 00:24:13,160 --> 00:24:15,720 Speaker 1: investment in the in the first twelve months. Yeah, that 443 00:24:15,840 --> 00:24:18,560 Speaker 1: thanks for bringing that up. It's been it's been extraordinary. 444 00:24:18,600 --> 00:24:21,560 Speaker 1: I mean, you know, tennis definitely as a slightly older 445 00:24:21,560 --> 00:24:25,360 Speaker 1: demographic and sports as the younger demographic. So we've kind 446 00:24:25,400 --> 00:24:28,960 Speaker 1: of book ended life with those two. But it's been fun. 447 00:24:29,000 --> 00:24:31,560 Speaker 1: We have to even showed the our video in the 448 00:24:31,600 --> 00:24:36,159 Speaker 1: tennis stadium, which I think it really was entertaining the people, 449 00:24:36,520 --> 00:24:40,600 Speaker 1: um because it is exposing them to a different a 450 00:24:40,640 --> 00:24:43,600 Speaker 1: different activity. But I've learned a ton. I mean, that 451 00:24:43,720 --> 00:24:47,879 Speaker 1: is an incredible There is an incredibly large passionate group 452 00:24:47,920 --> 00:24:51,720 Speaker 1: of fans around East Boards, um, greater than anything else 453 00:24:51,760 --> 00:24:54,160 Speaker 1: I've seen. You know, you guys noticed that two point 454 00:24:54,560 --> 00:24:58,679 Speaker 1: six billion people on the planet play video games, and 455 00:24:58,760 --> 00:25:02,399 Speaker 1: when you look at the engage men amongst eight four 456 00:25:02,480 --> 00:25:05,760 Speaker 1: year olds is all about the sports the Overwatch League. 457 00:25:06,400 --> 00:25:12,720 Speaker 1: UM fans study is that one those fans watch traditional 458 00:25:12,760 --> 00:25:16,120 Speaker 1: sports one point eight hours a week, watch the sports 459 00:25:16,160 --> 00:25:18,600 Speaker 1: four point nine hours a week, and play video games 460 00:25:18,600 --> 00:25:23,160 Speaker 1: twenty hours a week. And UM and that's what our 461 00:25:23,240 --> 00:25:26,000 Speaker 1: experience has been when you get when you you know, 462 00:25:26,040 --> 00:25:30,800 Speaker 1: the community has just been unbelievably engaged. And that Washington 463 00:25:30,840 --> 00:25:33,080 Speaker 1: team you know, has been based out in California. Next 464 00:25:33,119 --> 00:25:36,120 Speaker 1: year we'll be moving back home to d C kind 465 00:25:36,119 --> 00:25:39,560 Speaker 1: of for the first round of home matches, so to speak, 466 00:25:39,960 --> 00:25:42,720 Speaker 1: for the franchise. UM, given kind of how you've thought 467 00:25:42,720 --> 00:25:46,280 Speaker 1: about envisioning tennis tournaments, give us a sense real quick 468 00:25:46,280 --> 00:25:49,520 Speaker 1: of how you envision home E sports match in d C. 469 00:25:50,280 --> 00:25:54,520 Speaker 1: Looking next year, we have two amazing venues. The Anthem, 470 00:25:54,520 --> 00:25:56,800 Speaker 1: which is one of the great new music called in 471 00:25:56,840 --> 00:26:00,800 Speaker 1: America recently built on the waterfront as one of our venues, 472 00:26:00,840 --> 00:26:03,399 Speaker 1: and then UM the E s A which is a 473 00:26:03,440 --> 00:26:06,159 Speaker 1: new multi purpose arena built by the city for the 474 00:26:06,200 --> 00:26:08,800 Speaker 1: other that actually was built with the sports in mind. 475 00:26:08,880 --> 00:26:11,440 Speaker 1: So it starts with having great venues and then we're 476 00:26:11,440 --> 00:26:13,879 Speaker 1: going to take the same approach I described that we 477 00:26:13,920 --> 00:26:17,280 Speaker 1: do for the tennis. Our whole goal is to create 478 00:26:17,280 --> 00:26:20,240 Speaker 1: an experience that the sports fans love, but that also 479 00:26:20,320 --> 00:26:22,040 Speaker 1: is going to be a great on ramp for people 480 00:26:22,080 --> 00:26:24,440 Speaker 1: who first exposure to the sports will be coming to 481 00:26:24,520 --> 00:26:28,160 Speaker 1: a Justice game. And so as we think about the seating, 482 00:26:28,240 --> 00:26:32,200 Speaker 1: the hospitality, the way you explain the game, the food 483 00:26:32,280 --> 00:26:36,040 Speaker 1: and beverage, it's gonna be with a much broader target 484 00:26:36,080 --> 00:26:39,520 Speaker 1: audience in mind, not just core E sports UM and 485 00:26:40,320 --> 00:26:42,479 Speaker 1: the whole nature of an E sports experience. It's an 486 00:26:42,480 --> 00:26:47,159 Speaker 1: extraordinary The aesthetics of an in person E sports match 487 00:26:47,560 --> 00:26:52,880 Speaker 1: are it's incredible. Um. It really is incredibly energizing, and 488 00:26:53,240 --> 00:26:56,880 Speaker 1: so we're looking forward to to bring that to Washington 489 00:26:57,000 --> 00:27:00,280 Speaker 1: and exposing a whole new group of people to to 490 00:27:00,440 --> 00:27:02,960 Speaker 1: the future of the sports. Is Ted Leans is going 491 00:27:03,000 --> 00:27:05,000 Speaker 1: to invest in your tennis tournament seems like something he'd 492 00:27:05,040 --> 00:27:08,359 Speaker 1: like to Ed. You know, Ted and I are great 493 00:27:08,359 --> 00:27:11,399 Speaker 1: friends and we are always talking about things to do together. 494 00:27:11,440 --> 00:27:15,400 Speaker 1: We have a great partnership with Monumental UM and uh 495 00:27:15,600 --> 00:27:18,760 Speaker 1: so we're we're always talking about ways to collaborate. All Right, 496 00:27:18,840 --> 00:27:21,280 Speaker 1: Mark iin the chief investor in the City Open. Thanks 497 00:27:21,280 --> 00:27:23,159 Speaker 1: so much for taking the time. Thanks guys, thanks for 498 00:27:23,200 --> 00:27:26,600 Speaker 1: having me mark I and he had a great point 499 00:27:26,680 --> 00:27:31,080 Speaker 1: about the future of tennis. And we think right now 500 00:27:31,119 --> 00:27:34,520 Speaker 1: because Serena Williams, she's gonna be around forever. No, it 501 00:27:34,600 --> 00:27:37,480 Speaker 1: does not happen like that. And I was remember he 502 00:27:37,640 --> 00:27:41,480 Speaker 1: mentioned something about the Labor Tennis tournament for him, the 503 00:27:41,520 --> 00:27:44,159 Speaker 1: famous Rod Labor, and I'm sure people back in the 504 00:27:44,200 --> 00:27:46,359 Speaker 1: day were thinking Rod Labor is gonna be around forever. 505 00:27:47,000 --> 00:27:51,840 Speaker 1: And it's it's a reminder that there's always evolution in 506 00:27:51,880 --> 00:27:53,800 Speaker 1: the world and it's gonna be the same way in tennis. 507 00:27:53,840 --> 00:27:57,719 Speaker 1: Do you remember when we spoke about Amy Trask mopping 508 00:27:57,760 --> 00:28:01,840 Speaker 1: the floor, Well struck me. And again it's just business 509 00:28:01,840 --> 00:28:04,720 Speaker 1: of sport, lessons, business of business. Where he was like, 510 00:28:04,800 --> 00:28:08,040 Speaker 1: I was moving trash cans, I was out there picking 511 00:28:08,080 --> 00:28:10,119 Speaker 1: stuff up. This is the guy who was now the 512 00:28:10,200 --> 00:28:14,199 Speaker 1: lead investor in the tournament. And understand that, yes, you 513 00:28:14,320 --> 00:28:17,399 Speaker 1: have to delegate, as he said, but he believed in 514 00:28:17,400 --> 00:28:19,960 Speaker 1: the David Stern system of management and a bit of 515 00:28:20,000 --> 00:28:23,639 Speaker 1: micromanagement and and be around, make sure you're seeing and 516 00:28:23,680 --> 00:28:26,720 Speaker 1: touching and doing. It's not like, oh, I'm gonna go 517 00:28:26,840 --> 00:28:30,080 Speaker 1: hang out in the v I p suites and not 518 00:28:30,200 --> 00:28:32,880 Speaker 1: get my hands dirty. He knew if he's gonna make 519 00:28:32,920 --> 00:28:36,400 Speaker 1: this thing what he envisions it should become, he's got 520 00:28:36,400 --> 00:28:39,200 Speaker 1: to be an active participant in that change. I keep 521 00:28:39,240 --> 00:28:41,360 Speaker 1: coming back to what was kind of a throwaway line 522 00:28:41,400 --> 00:28:42,760 Speaker 1: that he said kind of towards the end when we 523 00:28:42,760 --> 00:28:44,840 Speaker 1: were talking about the sports, and he said that they 524 00:28:45,000 --> 00:28:47,480 Speaker 1: hired for the City Open, they hired people to run 525 00:28:47,560 --> 00:28:51,120 Speaker 1: social media for the tournament from the sports, which is 526 00:28:51,160 --> 00:28:53,840 Speaker 1: a really smart thing to do. And for folks out 527 00:28:53,840 --> 00:28:56,880 Speaker 1: there who follow both the sports and traditional sports, the 528 00:28:56,960 --> 00:29:00,440 Speaker 1: sports does a tremendous job in terms of social media, 529 00:29:00,480 --> 00:29:03,160 Speaker 1: in terms of video content, pushing it out that they 530 00:29:03,200 --> 00:29:06,720 Speaker 1: have a way of speaking to two young children, especially uh, 531 00:29:06,760 --> 00:29:09,320 Speaker 1: you know, which is very effective. Good on Mark Iron 532 00:29:09,360 --> 00:29:11,560 Speaker 1: for for realizing less than a year after he bought 533 00:29:11,640 --> 00:29:14,040 Speaker 1: that Washington e Sports team that you know, this is 534 00:29:14,080 --> 00:29:16,160 Speaker 1: an industry that that we can learn from back in 535 00:29:16,200 --> 00:29:18,720 Speaker 1: traditional sports. And I know he's not the only one, 536 00:29:18,760 --> 00:29:20,560 Speaker 1: but I imagine there's going to be a lot more 537 00:29:21,040 --> 00:29:23,600 Speaker 1: later on who are looking to E sports to grab 538 00:29:23,640 --> 00:29:26,240 Speaker 1: people to run social media and traditional sports. I see 539 00:29:26,280 --> 00:29:28,600 Speaker 1: another business bar. They're gonna They're gonna get all their 540 00:29:28,600 --> 00:29:30,840 Speaker 1: folks from the sports to start doing the social and 541 00:29:30,880 --> 00:29:34,160 Speaker 1: reach out the community outreach for the traditional team sports. 542 00:29:34,160 --> 00:29:39,640 Speaker 1: Hello Ted Leans, it feels better to be number one 543 00:29:39,640 --> 00:29:41,520 Speaker 1: than number five. I'll wear a number because of Mike. 544 00:29:41,680 --> 00:29:43,200 Speaker 1: We have a chance to go for three in a row. 545 00:29:43,240 --> 00:29:45,200 Speaker 1: Kids numbers at a good time. And I first started 546 00:29:45,200 --> 00:29:48,600 Speaker 1: wearing the number, I would just have the Floomberg Business 547 00:29:48,640 --> 00:29:51,840 Speaker 1: of Sports, the number of the week. I'm for the 548 00:29:51,880 --> 00:29:54,720 Speaker 1: number of the week. You didn't have one. I do have, 549 00:29:54,960 --> 00:29:56,560 Speaker 1: but you didn't have. I didn't have one until I 550 00:29:56,640 --> 00:29:59,760 Speaker 1: realized this was one of the easiest numbers. Oh oh boy, 551 00:30:00,320 --> 00:30:09,840 Speaker 1: no pressure, one hundred one l one hundred boom boom. 552 00:30:10,760 --> 00:30:14,920 Speaker 1: Nice man, thank you. I know it's Roger Federer's birthday, 553 00:30:14,920 --> 00:30:18,440 Speaker 1: but I figured a hundred was too old. You know 554 00:30:18,480 --> 00:30:21,960 Speaker 1: you figure's gonna go off. Rod Labor might be Oh man, 555 00:30:22,040 --> 00:30:24,280 Speaker 1: you're listening to The Bloomberg Business of Sports. Were here 556 00:30:24,280 --> 00:30:26,680 Speaker 1: each and every week at the same time, plus online 557 00:30:26,720 --> 00:30:29,120 Speaker 1: as an Apple podcast, and you can catch that Monday's, 558 00:30:29,280 --> 00:30:32,360 Speaker 1: Wednesdays and Thursdays. I'm Michael Barr on Twitter at Big 559 00:30:32,400 --> 00:30:35,920 Speaker 1: Bar Sports. I'm Evan Nobie Williams at Novie Underscore Williams 560 00:30:36,160 --> 00:30:38,840 Speaker 1: Scott Stick. You can follow me on Twitter at sosnik. 561 00:30:38,880 --> 00:30:40,760 Speaker 1: Thanks for joining us, and please tune in next week 562 00:30:40,800 --> 00:30:42,600 Speaker 1: when we speak to the biggest and brightest in the 563 00:30:42,680 --> 00:30:45,760 Speaker 1: sports business industry. You're listening to Bloomberg Business of Sports 564 00:30:45,800 --> 00:30:47,760 Speaker 1: from Bloomberg Radio around the world.