1
00:00:00,760 --> 00:00:03,720
Speaker 1: This is the Bloomberg Business of Sports show. We explored

2
00:00:03,720 --> 00:00:05,760
Speaker 1: the big money issues in the world of sports.

3
00:00:05,920 --> 00:00:08,960
Speaker 2: I'm Michael Barr, I'm Scarlett Foo and Don Damian Sasa.

4
00:00:09,200 --> 00:00:13,160
Speaker 1: Coming up on the show, we talked soccer with Duncan Niederauer,

5
00:00:13,480 --> 00:00:18,400
Speaker 1: president of the official football team Football Team of the

6
00:00:18,440 --> 00:00:20,520
Speaker 1: City of Venice, Venizzia FC.

7
00:00:21,000 --> 00:00:23,320
Speaker 3: I think at a minimum, you were operating at the

8
00:00:23,360 --> 00:00:27,040
Speaker 3: center at the intersection of sports and business, and our

9
00:00:27,160 --> 00:00:29,400
Speaker 3: view was in a city like Venice with its own

10
00:00:29,440 --> 00:00:35,120
Speaker 3: global brand, why not extend that intersection to include fashion, culture, art,

11
00:00:35,280 --> 00:00:36,240
Speaker 3: sports and business.

12
00:00:36,560 --> 00:00:39,199
Speaker 4: Plus, we hear from Sam Kayochi. He is founder and

13
00:00:39,280 --> 00:00:41,520
Speaker 4: CEO at a unique tech firm, One Huddle.

14
00:00:41,640 --> 00:00:45,840
Speaker 5: Actually, our first client ever was a sports team. Client

15
00:00:45,920 --> 00:00:49,159
Speaker 5: number one was Monumental Sports and Entertainment ted Leonsis and

16
00:00:49,200 --> 00:00:52,599
Speaker 5: the team owned the Washington Capitals and the Washington Wizards.

17
00:00:53,120 --> 00:00:56,440
Speaker 5: And when I was talking to those folks, one of

18
00:00:56,440 --> 00:00:59,640
Speaker 5: their biggest challenges is how do we get a new

19
00:00:59,680 --> 00:01:02,280
Speaker 5: ticket sales rep, a new guest services rep.

20
00:01:02,400 --> 00:01:05,559
Speaker 1: That's straight ahead on the Bloomberg Business of Sports Show.

21
00:01:05,640 --> 00:01:08,280
Speaker 1: But first, the biggest story in the world of soccer,

22
00:01:08,400 --> 00:01:10,920
Speaker 1: it's did Eonail Messi Nick in Miami.

23
00:01:10,959 --> 00:01:15,640
Speaker 6: I would like to introduce to you your number ten,

24
00:01:17,280 --> 00:01:23,440
Speaker 6: inter Miami's number ten, America's number ten, the best number ten.

25
00:01:23,240 --> 00:01:23,840
Speaker 2: In the world.

26
00:01:24,319 --> 00:01:26,479
Speaker 3: Leon, I'm Messy.

27
00:01:26,920 --> 00:01:29,759
Speaker 4: That was a very excited George Moss. He's the inter

28
00:01:29,880 --> 00:01:32,880
Speaker 4: Miami FC owner at the big unveiling event at a

29
00:01:33,000 --> 00:01:35,520
Speaker 4: sold out Miami Drive Pink Stadium.

30
00:01:36,240 --> 00:01:38,759
Speaker 2: It is a massive deal for the world of soccer,

31
00:01:38,760 --> 00:01:41,400
Speaker 2: and an even bigger deal for billionaire George Moss, who

32
00:01:41,440 --> 00:01:43,679
Speaker 2: struck the deal to bring the world's biggest soccer start

33
00:01:43,800 --> 00:01:44,959
Speaker 2: to his team.

34
00:01:45,000 --> 00:01:47,080
Speaker 1: Here to take us through the deal and what it

35
00:01:47,160 --> 00:01:50,000
Speaker 1: means with the future of the sport. We welcome Bloomberg

36
00:01:50,080 --> 00:01:52,440
Speaker 1: Miami Bureau chief Felipe Marca.

37
00:01:52,600 --> 00:01:55,360
Speaker 7: Thank you. You can't imagine how much my job has

38
00:01:55,400 --> 00:01:57,800
Speaker 7: it come about.

39
00:01:59,640 --> 00:02:03,720
Speaker 1: So I have to ask, first of all, if you

40
00:02:03,760 --> 00:02:08,680
Speaker 1: are Leonel Messi, what would make you go to Inner Miami.

41
00:02:09,600 --> 00:02:12,360
Speaker 7: That's a very very good question, because, as you said,

42
00:02:12,360 --> 00:02:15,480
Speaker 7: we're talking about the world's biggest soccer player alive, so

43
00:02:15,520 --> 00:02:17,720
Speaker 7: we don't get into controversy to the past ones. But

44
00:02:18,760 --> 00:02:21,520
Speaker 7: why would he join a team that's currently at the

45
00:02:21,560 --> 00:02:24,800
Speaker 7: bottle of the barrel of the MLF the major soccer League,

46
00:02:24,880 --> 00:02:32,360
Speaker 7: the Major League Soccer Championship. Basically, we're talking about a player,

47
00:02:32,639 --> 00:02:37,320
Speaker 7: and that's what Rhemas told me. So he sold it

48
00:02:37,440 --> 00:02:41,240
Speaker 7: to Massy as his chance of making his legacy beyond

49
00:02:41,280 --> 00:02:45,160
Speaker 7: the beyond the soccer field. So he's joining into Miami

50
00:02:45,200 --> 00:02:48,000
Speaker 7: because he's going to transform soccer into the US. He's

51
00:02:48,160 --> 00:02:53,040
Speaker 7: getting a he's becoming a part owner of the team

52
00:02:53,040 --> 00:02:56,239
Speaker 7: when he retires, he's getting a cut of streaming revenues,

53
00:02:56,280 --> 00:02:58,800
Speaker 7: which is a very important part of this view. And

54
00:02:58,880 --> 00:03:02,840
Speaker 7: he's also and he also has a big contract with

55
00:03:02,919 --> 00:03:06,160
Speaker 7: Adidas as well. So basically the idea is, if you

56
00:03:06,320 --> 00:03:09,079
Speaker 7: manage to make soccer grow in the US, you are

57
00:03:09,120 --> 00:03:10,760
Speaker 7: going to gain on that success.

58
00:03:11,200 --> 00:03:14,919
Speaker 4: Okay, that sounds attractive certainly, but also Messi is thirty

59
00:03:14,919 --> 00:03:18,560
Speaker 4: six years old, and there have been other let's just

60
00:03:18,639 --> 00:03:21,840
Speaker 4: say veteran soccer stars that have moved to the US.

61
00:03:21,960 --> 00:03:26,800
Speaker 4: Pele came over, beck Be's came over. There's also Wayne

62
00:03:26,840 --> 00:03:30,720
Speaker 4: Rooney and others, and Major League Soccer still Major League Soccer.

63
00:03:30,760 --> 00:03:33,440
Speaker 4: It's not like Americans decided to turn off baseball and

64
00:03:34,320 --> 00:03:36,360
Speaker 4: you know, flock to soccer and droves.

65
00:03:37,520 --> 00:03:39,560
Speaker 7: Well, but you know one thing that I think actually

66
00:03:39,920 --> 00:03:41,400
Speaker 7: when one of the persons I agree with you, and

67
00:03:41,440 --> 00:03:45,320
Speaker 7: I think that's the biggest risk George mass and messire running.

68
00:03:45,960 --> 00:03:49,520
Speaker 7: But there's one big important cavea to the Apple TV deal,

69
00:03:49,640 --> 00:03:52,840
Speaker 7: which is streaming you that Messi is struck with Apple.

70
00:03:53,440 --> 00:03:57,640
Speaker 7: He's going to benefit the more oversea subscribers Apple gats,

71
00:03:58,320 --> 00:04:01,840
Speaker 7: which basically means that he's not necessarily just catering to

72
00:04:02,040 --> 00:04:05,720
Speaker 7: US soccer, but he's catering to the whole big following

73
00:04:05,760 --> 00:04:09,080
Speaker 7: he has all around the globe. If all of those

74
00:04:09,120 --> 00:04:11,440
Speaker 7: eyeballs are going to flock to Major League soccer, I

75
00:04:11,480 --> 00:04:13,600
Speaker 7: think that remains to be seen because we need to

76
00:04:13,640 --> 00:04:15,800
Speaker 7: see a step up in quality of the games, right.

77
00:04:16,120 --> 00:04:18,720
Speaker 7: Nobody wants to tune into it to watch a game

78
00:04:18,800 --> 00:04:23,800
Speaker 7: that like it's subpar. But the biggest, the biggest straw

79
00:04:23,880 --> 00:04:26,960
Speaker 7: of this you is making Messy kind of like it's

80
00:04:27,360 --> 00:04:31,680
Speaker 7: pibly no Massy's Global Superstar or our Global Superstar poll.

81
00:04:31,960 --> 00:04:33,760
Speaker 2: You know, I'm wondering if you could just kind of

82
00:04:33,839 --> 00:04:35,840
Speaker 2: extrapolate a bit on that. You know, this Apple TV

83
00:04:35,960 --> 00:04:39,520
Speaker 2: deal is nothing short of extraordinary, right, and you know,

84
00:04:39,560 --> 00:04:42,479
Speaker 2: I wonder what that means for other huge sports stars

85
00:04:42,720 --> 00:04:45,680
Speaker 2: like Aleo Messi like a Lebron James for example. I mean,

86
00:04:46,000 --> 00:04:47,919
Speaker 2: you know, what do you think this type of a

87
00:04:47,960 --> 00:04:51,280
Speaker 2: deal means for you know, the super athletes and other

88
00:04:51,320 --> 00:04:52,599
Speaker 2: sports and other professions.

89
00:04:52,640 --> 00:04:54,600
Speaker 7: You know, that's a very good question when we've been

90
00:04:54,640 --> 00:04:58,880
Speaker 7: discussing pretty frequently here. I mean, the usual business model

91
00:04:58,880 --> 00:05:02,520
Speaker 7: of sports is cash for service rendered. Right, you're a

92
00:05:02,560 --> 00:05:06,039
Speaker 7: star player, you go to the court, do you're saying,

93
00:05:06,400 --> 00:05:08,800
Speaker 7: hopefully get a lot of awards, but like you get

94
00:05:08,839 --> 00:05:11,279
Speaker 7: paid for doing what you're saying, it's like a regular salary.

95
00:05:11,960 --> 00:05:14,560
Speaker 7: What we're seeing here is messy, is more of the

96
00:05:14,640 --> 00:05:16,560
Speaker 7: kind of contract where you would see I don't know,

97
00:05:16,600 --> 00:05:19,720
Speaker 7: at Wall Street or Silicon Valley, where you do have

98
00:05:19,920 --> 00:05:22,960
Speaker 7: your cash for service rendered, but you have an equity

99
00:05:22,960 --> 00:05:26,400
Speaker 7: stake on the team, You have a revenue sharing agreement

100
00:05:26,440 --> 00:05:29,080
Speaker 7: with the profits you bring. So it's kind of like

101
00:05:29,120 --> 00:05:31,440
Speaker 7: a more complex agreement.

102
00:05:31,360 --> 00:05:34,440
Speaker 2: That I think Michael Jordan with Nike basically exactly.

103
00:05:34,520 --> 00:05:36,960
Speaker 7: And that's one of the comparisons George mass did. He

104
00:05:37,080 --> 00:05:40,240
Speaker 7: was like Leo, if you come to Miami, one of

105
00:05:40,240 --> 00:05:43,280
Speaker 7: the things you have to model yourself used with pattern in.

106
00:05:43,320 --> 00:05:45,720
Speaker 7: One of the things you have to pattern yourself after

107
00:05:45,880 --> 00:05:49,880
Speaker 7: is Michael Jordan's post basketball career. That's what we're offering

108
00:05:49,920 --> 00:05:52,560
Speaker 7: you here. So it's a due that will ensure you

109
00:05:52,640 --> 00:05:57,200
Speaker 7: that once you're done playing, because Massy is already let's say,

110
00:05:57,560 --> 00:06:00,799
Speaker 7: at the tail end of his career as a player,

111
00:06:01,200 --> 00:06:03,560
Speaker 7: once you're done playing, this will ensure that you can

112
00:06:03,600 --> 00:06:06,800
Speaker 7: still have a lasting impact in soccer, just like Michael

113
00:06:06,839 --> 00:06:07,960
Speaker 7: Jordan had in basketball.

114
00:06:08,400 --> 00:06:12,279
Speaker 1: I saw a figure in his career. When it's done

115
00:06:13,040 --> 00:06:19,719
Speaker 1: that Lionel Messi will probably make one point six billion dollars.

116
00:06:19,760 --> 00:06:23,640
Speaker 1: That's billion with a B. And when you throw in,

117
00:06:23,760 --> 00:06:26,520
Speaker 1: like you said, the Apple streaming, I can see now

118
00:06:26,839 --> 00:06:29,120
Speaker 1: why he wanted to join Interer Miami.

119
00:06:29,480 --> 00:06:31,680
Speaker 7: Yeah. The only thing is it's a very rescript of

120
00:06:31,720 --> 00:06:35,640
Speaker 7: position because remember he turned down an offer from Saudi

121
00:06:35,680 --> 00:06:40,000
Speaker 7: Arabia that would see him cash for services rendered, no

122
00:06:40,320 --> 00:06:45,599
Speaker 7: complications of streaming, no revenues, et cetera, getting basically a

123
00:06:45,720 --> 00:06:48,839
Speaker 7: close to him a reportedly close to one billion dollar payout.

124
00:06:49,760 --> 00:06:52,320
Speaker 7: So what Messi basically did here is that he's taking

125
00:06:52,360 --> 00:06:57,039
Speaker 7: a risk and been trying to maybe get revenues that

126
00:06:57,120 --> 00:06:59,560
Speaker 7: will come after his career is over. But he could

127
00:06:59,560 --> 00:07:02,839
Speaker 7: have got may more straightforwards you But of course he

128
00:07:02,880 --> 00:07:05,559
Speaker 7: would not be living in Miami, and as Miami beer chief,

129
00:07:05,560 --> 00:07:07,880
Speaker 7: I can attest that besides the heat, when it's not

130
00:07:09,200 --> 00:07:10,920
Speaker 7: as hot as it is in the summer, it's actually

131
00:07:10,920 --> 00:07:12,200
Speaker 7: a very nice place to live.

132
00:07:12,680 --> 00:07:15,200
Speaker 4: And of course it's closer to home as well. Right,

133
00:07:15,400 --> 00:07:18,800
Speaker 4: it's closer to Argentina than Paris Is or the Middle

134
00:07:18,840 --> 00:07:21,280
Speaker 4: East for that matter. Tell us a little bit about

135
00:07:21,320 --> 00:07:26,440
Speaker 4: the infrastructure that George Moss is planning to build up

136
00:07:27,000 --> 00:07:28,760
Speaker 4: for his Superstar Player.

137
00:07:28,800 --> 00:07:32,040
Speaker 7: Now, Okay, so that's a big question because as of now,

138
00:07:32,360 --> 00:07:35,960
Speaker 7: Mess playing in the dry stink stadium in Fort Lauderdale,

139
00:07:36,560 --> 00:07:39,320
Speaker 7: and I have to say that if you compare to

140
00:07:39,600 --> 00:07:44,120
Speaker 7: like his previous accommodations in Barcelona or the kind of

141
00:07:44,160 --> 00:07:48,840
Speaker 7: stadiums is used to in Europe, it's pretty starkingly different.

142
00:07:48,920 --> 00:07:51,280
Speaker 7: Let's put it that way. The Drive Pink Stadium is

143
00:07:51,360 --> 00:07:55,000
Speaker 7: used for some like just for college sports, for high

144
00:07:55,000 --> 00:07:59,520
Speaker 7: school sports. It has its infrastructure improved, but it's far

145
00:07:59,600 --> 00:08:02,440
Speaker 7: from what is used to in Europe. What's going to

146
00:08:02,480 --> 00:08:04,960
Speaker 7: happen is that Inter Miami is building a new stadium

147
00:08:05,000 --> 00:08:08,520
Speaker 7: called Freedom Park, but that's allegedly only going to be

148
00:08:08,560 --> 00:08:14,280
Speaker 7: Reading twenty twenty five Best and Best possible scenario. So

149
00:08:14,440 --> 00:08:18,960
Speaker 7: basically it might not even see Messi playing there because

150
00:08:19,000 --> 00:08:23,040
Speaker 7: his culture ends twenty twenty five. So that's a big question.

151
00:08:23,200 --> 00:08:26,000
Speaker 7: How are they going to adapt the infrastructure that they

152
00:08:26,040 --> 00:08:29,160
Speaker 7: have to actually have one of the world's biggest players here.

153
00:08:29,200 --> 00:08:32,720
Speaker 7: And remember it's about actually catching it on his presence, right,

154
00:08:33,120 --> 00:08:36,320
Speaker 7: If you have a big stadium with a lot of

155
00:08:36,320 --> 00:08:38,880
Speaker 7: infrastructure around it, you can actually sell more tickets, you

156
00:08:38,920 --> 00:08:41,959
Speaker 7: can actually bank on, like you can actually make more

157
00:08:42,000 --> 00:08:44,600
Speaker 7: money out of the games. So that's one of the

158
00:08:44,880 --> 00:08:47,319
Speaker 7: big questions of this year, like how can you actually

159
00:08:47,360 --> 00:08:49,839
Speaker 7: add how quickly can you actually adapt this infrastructure?

160
00:08:50,120 --> 00:08:52,160
Speaker 2: Talipe? I mean, so what you're talking about is the

161
00:08:52,160 --> 00:08:54,200
Speaker 2: new Freedom Park Stadium, which is going to see as

162
00:08:54,200 --> 00:08:57,040
Speaker 2: many as twenty five thousand fans. It's a privately funded projects.

163
00:08:57,160 --> 00:09:00,720
Speaker 2: I think it's what's seen costs increase almost double from

164
00:09:00,920 --> 00:09:04,800
Speaker 2: its original one billion dollars. Why should we build a

165
00:09:04,800 --> 00:09:06,839
Speaker 2: stadium in Miami when no one goes to Dolphin games?

166
00:09:06,960 --> 00:09:08,920
Speaker 2: I mean seriously, I mean you're from Miami or the

167
00:09:08,920 --> 00:09:12,320
Speaker 2: Miami Bureau chief, you're Bloomberg. Sports fans tend to not

168
00:09:12,600 --> 00:09:15,760
Speaker 2: go to the actual games in Miami. Is going to

169
00:09:15,840 --> 00:09:16,280
Speaker 2: change that.

170
00:09:16,679 --> 00:09:21,199
Speaker 7: Honestly, I think the biggest example is not necessarily the Dolphins,

171
00:09:21,200 --> 00:09:24,680
Speaker 7: but the Miami Marlin, which has seen a big stadium

172
00:09:24,679 --> 00:09:28,280
Speaker 7: being built, very controversial deal, and most of the time

173
00:09:28,320 --> 00:09:31,960
Speaker 7: that stadium sits empty, a lot of promises are made

174
00:09:31,960 --> 00:09:34,640
Speaker 7: around revitalizing the area. So I think that's the big

175
00:09:35,160 --> 00:09:38,439
Speaker 7: the big example, a big thing that they want to

176
00:09:38,480 --> 00:09:41,240
Speaker 7: try and avoid the state. The Freedom Park to you

177
00:09:41,240 --> 00:09:43,920
Speaker 7: in itself was very controversial actually because even though it's

178
00:09:44,040 --> 00:09:48,160
Speaker 7: privately funded, it's built on public land and some of

179
00:09:48,200 --> 00:09:50,960
Speaker 7: the some of the critics of the deal say that

180
00:09:51,360 --> 00:09:54,480
Speaker 7: George mass and Inter Miami, who are actually building the stadium,

181
00:09:54,760 --> 00:09:57,520
Speaker 7: got a very sweetheart deal with the with Miami, with

182
00:09:57,600 --> 00:10:00,600
Speaker 7: the City of Miami for that land. So there's even

183
00:10:00,640 --> 00:10:03,600
Speaker 7: a lot of controversy on that. What George Moss is

184
00:10:03,640 --> 00:10:07,280
Speaker 7: proposing and what he says, what he says would differentiate

185
00:10:07,320 --> 00:10:10,680
Speaker 7: this project is that it includes a stadium, it includes

186
00:10:10,760 --> 00:10:15,840
Speaker 7: office towers, it includes a hotel, if I'm not mistaken,

187
00:10:16,040 --> 00:10:20,240
Speaker 7: it includes a food plaza. So he says it would

188
00:10:20,240 --> 00:10:22,080
Speaker 7: be like a full on complex and that will make

189
00:10:22,160 --> 00:10:25,200
Speaker 7: it a little bit more profitable. Honestly, I think that

190
00:10:25,280 --> 00:10:26,120
Speaker 7: remains to be seen.

191
00:10:26,600 --> 00:10:30,640
Speaker 1: I don't think people understand what this means. People in

192
00:10:30,720 --> 00:10:33,280
Speaker 1: Miami get it. I don't think people get it. And

193
00:10:33,400 --> 00:10:37,640
Speaker 1: you know, maybe in Wisconsin whatever, they introduced Lionel Messi

194
00:10:39,120 --> 00:10:43,720
Speaker 1: on July sixteenth, and you know, here it is mister

195
00:10:43,840 --> 00:10:47,480
Speaker 1: Moss billionaire himself. Here is Lionel Messi, and all of

196
00:10:47,520 --> 00:10:52,920
Speaker 1: a sudden they went crazy. And I wish people could

197
00:10:53,040 --> 00:10:56,720
Speaker 1: understand what this means and the impact of it.

198
00:10:56,800 --> 00:10:59,240
Speaker 7: Okay, let me give you kind of like an example here.

199
00:10:59,320 --> 00:11:03,599
Speaker 7: So in South Florida has the biggest Argentine community outside

200
00:11:03,600 --> 00:11:07,800
Speaker 7: of Argentina, right, so that in itself already turbocharges all

201
00:11:07,800 --> 00:11:11,240
Speaker 7: of the reception messag is going to get. I've the

202
00:11:11,360 --> 00:11:15,600
Speaker 7: city has been swept by this mansy mania and there's

203
00:11:15,640 --> 00:11:18,800
Speaker 7: no other way of describing this that it's really really

204
00:11:18,800 --> 00:11:21,560
Speaker 7: fun to watch. I mean, on my way here to

205
00:11:21,640 --> 00:11:26,120
Speaker 7: the office, I can see maybe two three new messy

206
00:11:26,440 --> 00:11:30,000
Speaker 7: gigantic murals popping around the city. If you go to

207
00:11:30,120 --> 00:11:33,040
Speaker 7: any Argentine restaurants, and they're several in Miami, there are

208
00:11:33,120 --> 00:11:35,960
Speaker 7: massive pictures of splattered all around. I kid you not.

209
00:11:36,120 --> 00:11:38,640
Speaker 7: I went to one the other day. They actually had

210
00:11:38,679 --> 00:11:42,920
Speaker 7: a gigantic picture of messy in the man's room, kind

211
00:11:42,960 --> 00:11:44,920
Speaker 7: of like the state of the Crazy. And that's we're

212
00:11:45,000 --> 00:11:45,920
Speaker 7: talking about here.

213
00:11:46,120 --> 00:11:48,120
Speaker 4: And everyone's wearing messy jerseys everywhere you go.

214
00:11:48,160 --> 00:11:50,679
Speaker 2: I'm sure, and I'm sleepy if I'm not mistaken. I

215
00:11:50,679 --> 00:11:53,160
Speaker 2: think tickets before he before the announcement that he was

216
00:11:53,240 --> 00:11:55,559
Speaker 2: joining into Miami, I think into Miami tickets are ranging

217
00:11:55,559 --> 00:11:57,640
Speaker 2: from forty to fifty dollars per seed. Now they're as

218
00:11:57,679 --> 00:11:59,800
Speaker 2: high as what seven hundred and fifty on average that.

219
00:12:00,240 --> 00:12:01,960
Speaker 7: You want to know the average of the next thing

220
00:12:02,200 --> 00:12:04,880
Speaker 7: that the next game, the first game, they're actually averaging

221
00:12:05,160 --> 00:12:06,880
Speaker 7: two thousand and six normer.

222
00:12:08,360 --> 00:12:10,520
Speaker 4: It's like, you better build that stadium quickly.

223
00:12:10,960 --> 00:12:13,560
Speaker 7: I mean, it's the comparison we did here, and I

224
00:12:13,600 --> 00:12:16,440
Speaker 7: think it kind of like shows the half of his power.

225
00:12:16,600 --> 00:12:18,360
Speaker 7: It's like more than Taylor Swift.

226
00:12:20,160 --> 00:12:24,160
Speaker 1: Yeah, that's true because he is competing against Taylor Swift.

227
00:12:24,200 --> 00:12:26,720
Speaker 7: I mean exactly, that's we're talking about.

228
00:12:26,760 --> 00:12:27,439
Speaker 1: No competition.

229
00:12:27,679 --> 00:12:32,160
Speaker 2: I take Taylor Swift over him the fantasy team anyway.

230
00:12:32,480 --> 00:12:35,800
Speaker 7: Yeah, well, I mean, I'm pretty sure the accommodations of

231
00:12:35,880 --> 00:12:38,439
Speaker 7: Taylor Ships concerts are better than the stadiums.

232
00:12:40,559 --> 00:12:44,920
Speaker 1: Bloomberg News Miami Bureau chief Felipe Marquez, thank you so

233
00:12:45,120 --> 00:12:48,120
Speaker 1: much for talking with us on the Bloomberg Business of Sports.

234
00:12:48,160 --> 00:12:50,079
Speaker 7: We really do appreciate my pleasure.

235
00:12:50,520 --> 00:12:54,880
Speaker 1: Coming up next, we talk more soccer with the president

236
00:12:55,160 --> 00:12:59,559
Speaker 1: of Venizia FC, Duncan Niederauer. That's straight ahead on the

237
00:12:59,640 --> 00:13:05,480
Speaker 1: Bloomer Business of Sports from Bloomberg Radio around the world.

238
00:13:13,440 --> 00:13:15,840
Speaker 1: This is the Bloomberg Business of Sports show, where we

239
00:13:15,880 --> 00:13:18,040
Speaker 1: explored the big money issues in the world sports.

240
00:13:18,200 --> 00:13:20,840
Speaker 2: I'm Michael Barr, I'm Scarlett Foo and I'm Demien Saso.

241
00:13:20,960 --> 00:13:25,560
Speaker 1: We're talking soccer today. Between Messi going to Miami and

242
00:13:25,600 --> 00:13:28,760
Speaker 1: the Women's World Cup just getting underway, we wanted to

243
00:13:28,760 --> 00:13:31,880
Speaker 1: get our finger on the pulse of the sport from

244
00:13:31,920 --> 00:13:33,800
Speaker 1: someone with a unique perspective.

245
00:13:34,360 --> 00:13:39,559
Speaker 2: Duncan Niederaur is president of Vnetzia FC I Lagunadi. It's

246
00:13:39,600 --> 00:13:41,640
Speaker 2: the official football team of the city of Venice and

247
00:13:41,760 --> 00:13:44,240
Speaker 2: is taking advantage of its location with a brand new

248
00:13:44,360 --> 00:13:45,959
Speaker 2: state of the art facility, the yacht.

249
00:13:45,880 --> 00:13:48,240
Speaker 8: That's called an absolute wonderful goal.

250
00:13:48,679 --> 00:13:53,000
Speaker 6: With his first goal, four Vnetcia pass given an entire

251
00:13:53,160 --> 00:13:53,840
Speaker 6: city home.

252
00:13:54,400 --> 00:13:57,960
Speaker 4: Plus his leadership team set up Venizia FC's women's team,

253
00:13:58,000 --> 00:14:00,319
Speaker 4: which is already making waves even though it was only

254
00:14:00,440 --> 00:14:01,760
Speaker 4: established in twenty twenty.

255
00:14:02,640 --> 00:14:06,440
Speaker 1: Here to talk with us through all of that, plus

256
00:14:06,440 --> 00:14:09,880
Speaker 1: some of the biggest headlines in soccer is nunkanned hour.

257
00:14:10,360 --> 00:14:13,440
Speaker 1: Let's start. First of all, we've got a guy who,

258
00:14:13,640 --> 00:14:17,480
Speaker 1: now this is just in general about how soccer is great,

259
00:14:18,200 --> 00:14:22,840
Speaker 1: and you know, Leonel Messi put your hands together, because

260
00:14:22,920 --> 00:14:27,080
Speaker 1: he is now in Miami and everybody loves it, and

261
00:14:27,360 --> 00:14:30,440
Speaker 1: just in general, can I get your opinion about what

262
00:14:30,480 --> 00:14:32,280
Speaker 1: this means for the sport of soccer.

263
00:14:34,640 --> 00:14:38,000
Speaker 3: Yeah, I think when everybody saw the news, you know,

264
00:14:38,120 --> 00:14:40,840
Speaker 3: soccer fans around the world that we're eager to hear

265
00:14:41,040 --> 00:14:44,200
Speaker 3: where Messi was going to go next. And I thought,

266
00:14:44,200 --> 00:14:46,520
Speaker 3: if you were going to come to the US, as rubored,

267
00:14:47,200 --> 00:14:49,280
Speaker 3: I figured it would be Miami, as a lot of

268
00:14:49,360 --> 00:14:52,000
Speaker 3: people did, given some other connections he might have with

269
00:14:52,120 --> 00:14:57,520
Speaker 3: folks down there. I think it's great for the MLS.

270
00:14:57,640 --> 00:15:01,400
Speaker 3: I think it's great for Americans, and I actually think

271
00:15:01,400 --> 00:15:04,560
Speaker 3: it's great for Messi. I think he's accomplished so much

272
00:15:04,560 --> 00:15:07,920
Speaker 3: in his career. I'm not sure what more there was

273
00:15:07,960 --> 00:15:11,320
Speaker 3: for him to do. And I, personally, from one man's opinion,

274
00:15:11,680 --> 00:15:13,600
Speaker 3: I think this is a much better move for him

275
00:15:13,600 --> 00:15:16,520
Speaker 3: than go into going to the Middle East. I thought

276
00:15:16,520 --> 00:15:18,120
Speaker 3: he made the right call. I think it's going to

277
00:15:18,120 --> 00:15:18,480
Speaker 3: be great.

278
00:15:19,080 --> 00:15:23,040
Speaker 4: Does this open the door for other elite football players

279
00:15:23,080 --> 00:15:25,280
Speaker 4: to move to the US, to move to US teams

280
00:15:25,320 --> 00:15:28,440
Speaker 4: as opposed to perhaps be attracted by the huge amounts

281
00:15:28,440 --> 00:15:30,120
Speaker 4: of money that they might make in the Middle East.

282
00:15:32,000 --> 00:15:34,320
Speaker 3: I think it's a personal decision for every player, right.

283
00:15:34,360 --> 00:15:36,160
Speaker 3: A lot of times it depends on where they want

284
00:15:36,160 --> 00:15:38,520
Speaker 3: to be, it depends on their family situation. But I

285
00:15:38,560 --> 00:15:40,880
Speaker 3: think what this does is you have a guy, although

286
00:15:40,920 --> 00:15:43,760
Speaker 3: he's late in his career, no one would suggest this

287
00:15:45,240 --> 00:15:47,440
Speaker 3: is the twilight of his career. I mean, he's still

288
00:15:47,520 --> 00:15:50,200
Speaker 3: one of the greatest players in the world, and for

289
00:15:50,320 --> 00:15:53,200
Speaker 3: him to come not just to finish his career, but

290
00:15:53,280 --> 00:15:56,600
Speaker 3: to finish his career while playing at such a high level.

291
00:15:57,000 --> 00:15:59,080
Speaker 3: I think it opens the door for a lot of

292
00:15:59,120 --> 00:16:02,400
Speaker 3: folks who, from you, if we're honest, probably wouldn't have

293
00:16:02,440 --> 00:16:05,680
Speaker 3: come in the peak of their career to MLS. I

294
00:16:05,720 --> 00:16:08,640
Speaker 3: think I think now you will see more people come,

295
00:16:08,720 --> 00:16:09,120
Speaker 3: for sure.

296
00:16:10,200 --> 00:16:12,920
Speaker 2: Donkan let's talk a little bit about Vanetti here about

297
00:16:13,280 --> 00:16:15,440
Speaker 2: the wing Lions, the log Gunari. Talk to us a

298
00:16:15,480 --> 00:16:17,880
Speaker 2: little bit about you know, since you've taken over at

299
00:16:17,880 --> 00:16:21,400
Speaker 2: the Helm, you know how you really completed that move

300
00:16:21,560 --> 00:16:25,560
Speaker 2: from SIRI D to C to be the Syria. I mean,

301
00:16:25,600 --> 00:16:27,440
Speaker 2: granted you got relegated last year, but talk to us

302
00:16:27,440 --> 00:16:29,320
Speaker 2: a little bit about what that. You know, what that

303
00:16:29,480 --> 00:16:33,760
Speaker 2: meant for for Venice, for the club, for for your

304
00:16:33,760 --> 00:16:34,240
Speaker 2: fan base.

305
00:16:37,000 --> 00:16:40,160
Speaker 3: Sure, so we took over in twenty twenty when the

306
00:16:40,160 --> 00:16:42,760
Speaker 3: club had already moved from D to C to be.

307
00:16:43,880 --> 00:16:46,240
Speaker 3: We took over mid season in twenty twenty when the

308
00:16:46,320 --> 00:16:50,320
Speaker 3: team was i think underperforming against expectations and was languishing

309
00:16:50,360 --> 00:16:54,960
Speaker 3: at the bottom of Serie B. We thought that the

310
00:16:55,040 --> 00:16:58,240
Speaker 3: team could be better, and a big part of our

311
00:16:58,320 --> 00:17:02,320
Speaker 3: hypothesis was that, uh, you know, you take a city

312
00:17:02,440 --> 00:17:05,520
Speaker 3: like Venice that has its own global brand. If you

313
00:17:05,600 --> 00:17:10,000
Speaker 3: couldn't build a really good business at the intersection of

314
00:17:10,040 --> 00:17:12,800
Speaker 3: sports and fashion and business in a place like Venice,

315
00:17:13,160 --> 00:17:14,919
Speaker 3: I'm not sure that, you know, I'm not sure you

316
00:17:14,920 --> 00:17:17,639
Speaker 3: could do it anywhere. So when we took over the club,

317
00:17:17,720 --> 00:17:19,639
Speaker 3: we knew we'd have a lot of investing to do

318
00:17:20,600 --> 00:17:22,600
Speaker 3: and we hoped that we could continue the march that

319
00:17:22,680 --> 00:17:24,919
Speaker 3: the club had put itself on to get from you know,

320
00:17:25,320 --> 00:17:29,159
Speaker 3: from D two c Up to Serie B, so we

321
00:17:29,160 --> 00:17:31,280
Speaker 3: committed to make a lot of investments in the team.

322
00:17:31,520 --> 00:17:33,920
Speaker 3: I think, if we're honest, Amian, I don't think in

323
00:17:33,960 --> 00:17:36,760
Speaker 3: our wildest imagination we thought that the building blogs we

324
00:17:36,880 --> 00:17:39,399
Speaker 3: put in place would lead to promotion in our in

325
00:17:39,440 --> 00:17:42,080
Speaker 3: our in our first full season. And remember it was

326
00:17:42,080 --> 00:17:44,520
Speaker 3: the first time Vanansi had been back in Syria for

327
00:17:44,560 --> 00:17:48,960
Speaker 3: almost two decades. So I think it all happened, if

328
00:17:48,960 --> 00:17:51,119
Speaker 3: I'm honest, a little too quickly for us. But it

329
00:17:51,240 --> 00:17:56,040
Speaker 3: was a big moment of pride. Against my wife's advice,

330
00:17:56,160 --> 00:17:58,360
Speaker 3: I did jump in the canal after we got promoted.

331
00:18:01,000 --> 00:18:02,919
Speaker 3: I think if there were any time to do that,

332
00:18:03,000 --> 00:18:05,439
Speaker 3: it probably was during COVID because I think the canal

333
00:18:05,520 --> 00:18:07,880
Speaker 3: was a little cleaner than it otherwise normally would have been.

334
00:18:08,320 --> 00:18:12,879
Speaker 3: But several of the players did it, and I felt

335
00:18:12,880 --> 00:18:15,840
Speaker 3: like it was the right moment to do it. I

336
00:18:15,880 --> 00:18:19,879
Speaker 3: think after getting relegated last season, the fans probably wanted

337
00:18:19,920 --> 00:18:21,840
Speaker 3: to help me get into the canal again, but for

338
00:18:21,880 --> 00:18:25,320
Speaker 3: a different reason. But you know, those are the ups

339
00:18:25,359 --> 00:18:28,520
Speaker 3: and downs of football when you live with promotion and relegation, right,

340
00:18:28,680 --> 00:18:31,160
Speaker 3: So it's been a pretty up and down, but very

341
00:18:31,160 --> 00:18:33,240
Speaker 3: exciting three and a half years that we've been involved.

342
00:18:33,960 --> 00:18:36,080
Speaker 4: Can you tell us a little bit about your strategy

343
00:18:36,280 --> 00:18:41,560
Speaker 4: of really leveraging Venice's reputation, the city and of course

344
00:18:41,640 --> 00:18:46,040
Speaker 4: Italy's reputation as art a center of art and fashion,

345
00:18:46,600 --> 00:18:50,800
Speaker 4: and how you raise the football club's profile through branding.

346
00:18:53,480 --> 00:18:57,560
Speaker 3: Right. Sure's a great question, Scarlett, so thank you. Yeah.

347
00:18:57,560 --> 00:19:00,399
Speaker 3: I think, as I said, our hypothesis going in was

348
00:19:00,440 --> 00:19:04,960
Speaker 3: that the way these professional sports are evolving, I think

349
00:19:05,000 --> 00:19:08,080
Speaker 3: at a minimum, you were operating at the center, at

350
00:19:08,119 --> 00:19:11,199
Speaker 3: the intersection of sports and business. And our view was,

351
00:19:11,240 --> 00:19:13,840
Speaker 3: in a city like Venice with its own global brand,

352
00:19:14,520 --> 00:19:18,760
Speaker 3: why not extend that intersection to include fashion, culture, art,

353
00:19:18,920 --> 00:19:24,399
Speaker 3: sports and business. And my belief is that in a

354
00:19:24,440 --> 00:19:30,240
Speaker 3: city like Venice, who remember, most people who visited Venice

355
00:19:30,240 --> 00:19:32,760
Speaker 3: didn't know we even had a soccer team. They didn't

356
00:19:32,800 --> 00:19:36,320
Speaker 3: know there was football in Venice. It wasn't well promoted,

357
00:19:36,440 --> 00:19:38,399
Speaker 3: It wasn't obvious to you when you came as a

358
00:19:38,440 --> 00:19:40,919
Speaker 3: tourist that there was a team there. So we had

359
00:19:40,960 --> 00:19:43,480
Speaker 3: a lot of work to do and a big part

360
00:19:43,520 --> 00:19:46,720
Speaker 3: of that was, if we're honest, Yeah, do I think

361
00:19:46,760 --> 00:19:49,240
Speaker 3: we've created great kit? Do I think we've built a

362
00:19:49,240 --> 00:19:52,159
Speaker 3: great brand. We couldn't have done that in a city

363
00:19:52,200 --> 00:19:55,000
Speaker 3: that didn't have the global awareness that a city like

364
00:19:55,119 --> 00:19:58,400
Speaker 3: Venice has. So we thought that part of doing things

365
00:19:58,480 --> 00:20:01,600
Speaker 3: differently was if you're going to be in the sports business,

366
00:20:01,680 --> 00:20:03,440
Speaker 3: you should do it in a place where you think

367
00:20:03,480 --> 00:20:07,320
Speaker 3: you can build a global brand. And we've been incredibly

368
00:20:07,400 --> 00:20:10,760
Speaker 3: proud and humbled by in three years what we've been

369
00:20:10,800 --> 00:20:14,639
Speaker 3: able to create. I think something like ninety to ninety

370
00:20:14,640 --> 00:20:17,520
Speaker 3: five percent of our merchandise is sold outside of Italy,

371
00:20:19,080 --> 00:20:21,440
Speaker 3: so very little of it is sold inside Italy, and

372
00:20:21,520 --> 00:20:23,760
Speaker 3: a lot of what's sold inside Italy is so is

373
00:20:23,800 --> 00:20:26,320
Speaker 3: sold to tourists who you know. We now have shops

374
00:20:26,400 --> 00:20:31,680
Speaker 3: in Venice that represent our brand very very well. So yeah,

375
00:20:31,680 --> 00:20:33,639
Speaker 3: that was a big part of our strategy was we

376
00:20:33,720 --> 00:20:36,200
Speaker 3: thought in a city like Venice, you could really build

377
00:20:36,240 --> 00:20:37,760
Speaker 3: a brand, and we've been able to do that.

378
00:20:37,920 --> 00:20:40,840
Speaker 4: And they're really pretty too, Damien, I mean like black

379
00:20:40,880 --> 00:20:42,760
Speaker 4: collars and gold.

380
00:20:42,560 --> 00:20:45,400
Speaker 2: Gold, and yeah, well, I mean, look, Donkan imitated when

381
00:20:45,440 --> 00:20:47,720
Speaker 2: you first came. You know, when you first took over,

382
00:20:47,920 --> 00:20:50,600
Speaker 2: you know, you you brought in longtime Vanetsia players and

383
00:20:50,680 --> 00:20:53,560
Speaker 2: locals like Paolo Posi, and then you hired you know,

384
00:20:53,680 --> 00:20:56,560
Speaker 2: Zenetti as your manager, you know, and now you've got

385
00:20:56,600 --> 00:21:00,320
Speaker 2: someone like gian Luca Buzio, an American midfielder, you know,

386
00:21:00,359 --> 00:21:02,840
Speaker 2: who I believe is, you know, the highest paid player

387
00:21:02,920 --> 00:21:04,800
Speaker 2: in the club's history. You know, talk to us about

388
00:21:05,040 --> 00:21:08,399
Speaker 2: that ship from going local to now going more global

389
00:21:08,680 --> 00:21:10,119
Speaker 2: to appeal to a larger fan base.

390
00:21:11,800 --> 00:21:14,159
Speaker 3: Right, So you just hit the nail on the heads.

391
00:21:14,160 --> 00:21:18,879
Speaker 3: So I think you obviously want to respect where you're playing,

392
00:21:19,160 --> 00:21:22,440
Speaker 3: and you want to have an Italian flavor to the team,

393
00:21:22,520 --> 00:21:24,880
Speaker 3: both on and off the pitch. At the same time,

394
00:21:25,080 --> 00:21:28,520
Speaker 3: our belief was from the beginning that talent and soccer

395
00:21:29,040 --> 00:21:32,840
Speaker 3: is everywhere. It's the most global of all sports. So

396
00:21:32,960 --> 00:21:36,520
Speaker 3: if you limit yourself to only looking in Italy, I

397
00:21:36,560 --> 00:21:39,200
Speaker 3: think you do yourself and your fans at this service.

398
00:21:39,640 --> 00:21:43,439
Speaker 3: And particularly if we're intellectually honest, a smaller club like ours,

399
00:21:43,960 --> 00:21:47,480
Speaker 3: are we really likely to get the top seventeen and

400
00:21:47,600 --> 00:21:50,600
Speaker 3: eighteen year old Italians? I don't think so. They want

401
00:21:50,600 --> 00:21:53,840
Speaker 3: to play for Juventus or Inter Milan, or Milan or

402
00:21:54,240 --> 00:21:57,400
Speaker 3: Atlanto or you know, or a team like that. They're

403
00:21:57,400 --> 00:22:00,399
Speaker 3: not going to come and play with Venice until we

404
00:22:00,520 --> 00:22:05,080
Speaker 3: establish ourselves more as a place to be. So somewhat

405
00:22:05,119 --> 00:22:08,840
Speaker 3: out of necessity and somewhat on purpose, we set up

406
00:22:08,880 --> 00:22:12,920
Speaker 3: our analytics team to look for talent everywhere. We think

407
00:22:12,920 --> 00:22:16,320
Speaker 3: it's a big universe. Yeah. Part of it was, Damien,

408
00:22:16,440 --> 00:22:18,880
Speaker 3: was to support the brand efforts, but part of it

409
00:22:18,920 --> 00:22:22,680
Speaker 3: was to say, why wouldn't you look in North America, Scandinavia,

410
00:22:22,760 --> 00:22:25,760
Speaker 3: Latin America and Eastern Europe for players, Like why would

411
00:22:25,800 --> 00:22:28,680
Speaker 3: you just look in Southern Europe? That made no sense

412
00:22:28,720 --> 00:22:29,080
Speaker 3: to us.

413
00:22:29,560 --> 00:22:33,640
Speaker 1: Well, speaking of soccer big time, we're talking about the

414
00:22:33,720 --> 00:22:37,880
Speaker 1: Women's World Cup and everybody's talking about that, and Vanezia

415
00:22:38,080 --> 00:22:41,480
Speaker 1: has a big women's team and it's this is huge.

416
00:22:41,560 --> 00:22:44,320
Speaker 1: This is Can you take us through first of all

417
00:22:44,480 --> 00:22:49,200
Speaker 1: the women's team and what this means now with Women's

418
00:22:49,200 --> 00:22:52,919
Speaker 1: World Cup and the talk of more equal pay for

419
00:22:53,200 --> 00:22:54,280
Speaker 1: women's soccer players.

420
00:22:58,160 --> 00:23:01,320
Speaker 3: Sure, if I'm honest, Michael, I think Italy is behind

421
00:23:01,359 --> 00:23:04,720
Speaker 3: a lot of European countries in its adoption and focus

422
00:23:04,800 --> 00:23:07,639
Speaker 3: and commitment to women's football. We wanted to be one

423
00:23:07,680 --> 00:23:10,439
Speaker 3: of the teams that from the outset put down a

424
00:23:10,480 --> 00:23:13,840
Speaker 3: marker that said, hey, guys, it's it's not just about

425
00:23:13,880 --> 00:23:16,240
Speaker 3: the first the men's first team you have to have

426
00:23:16,280 --> 00:23:18,840
Speaker 3: a great academy, you have to have great infrastructure, and

427
00:23:19,440 --> 00:23:23,320
Speaker 3: we believe you should have a women's team and academy

428
00:23:23,359 --> 00:23:25,919
Speaker 3: and a girls academy as well. So one of the

429
00:23:25,960 --> 00:23:28,080
Speaker 3: first things we did. The club did not have a

430
00:23:28,080 --> 00:23:31,640
Speaker 3: women's team when we took over. It pretended to have one.

431
00:23:31,800 --> 00:23:33,960
Speaker 3: I won't get into the details. It had sort of

432
00:23:34,000 --> 00:23:37,920
Speaker 3: a loose affiliation to check the box and we're we're

433
00:23:37,960 --> 00:23:40,040
Speaker 3: not box checkers. We think you either do it or

434
00:23:40,080 --> 00:23:42,639
Speaker 3: you don't do it. So we created a team. We

435
00:23:43,480 --> 00:23:45,679
Speaker 3: paid for the license. We've had to start out in

436
00:23:45,720 --> 00:23:48,680
Speaker 3: the third division, but the teams had had two really

437
00:23:48,680 --> 00:23:51,439
Speaker 3: good years, finishing near the near the top of the

438
00:23:51,160 --> 00:23:54,760
Speaker 3: of their division both times. And we just won the

439
00:23:54,760 --> 00:23:59,200
Speaker 3: Italian Cup for the entire third Division, you know, which

440
00:23:59,240 --> 00:24:01,680
Speaker 3: is a tournament played by all the third division teams

441
00:24:01,680 --> 00:24:04,320
Speaker 3: in Italy. We just won. The girls just won the

442
00:24:04,359 --> 00:24:09,360
Speaker 3: cup last month, so we're really proud of our women's team.

443
00:24:09,400 --> 00:24:12,480
Speaker 3: We continue to be focused on it. The new facility

444
00:24:12,560 --> 00:24:17,920
Speaker 3: we just built houses everybody from the men to the

445
00:24:17,960 --> 00:24:21,840
Speaker 3: boys and the women and the girls. Everyone has fields

446
00:24:21,880 --> 00:24:25,200
Speaker 3: to play on, everyone has their own changing facilities. They've

447
00:24:25,240 --> 00:24:29,520
Speaker 3: got their own gymnasiums, etc. So we're in on the

448
00:24:29,560 --> 00:24:32,720
Speaker 3: women's game, and I think the world will be all

449
00:24:32,760 --> 00:24:35,359
Speaker 3: in on the women's game, you know, given the level

450
00:24:35,400 --> 00:24:37,120
Speaker 3: we're going to see I play in this World Cup.

451
00:24:38,840 --> 00:24:42,159
Speaker 4: Duncan. A lot of our listeners and certainly Damian Michael

452
00:24:42,160 --> 00:24:44,440
Speaker 4: and I know you from your time when you were

453
00:24:44,520 --> 00:24:46,840
Speaker 4: in charge of the New York Stock Exchange until September

454
00:24:46,840 --> 00:24:52,040
Speaker 4: twenty fourteen. I'm curious how you transitioned into sports. What

455
00:24:52,119 --> 00:24:55,119
Speaker 4: was that like for you? What was the thinking behind it?

456
00:24:55,160 --> 00:24:56,800
Speaker 4: Is it something that you always wanted to do and

457
00:24:57,000 --> 00:24:58,280
Speaker 4: the opportunity opened up?

458
00:24:58,800 --> 00:25:02,480
Speaker 3: Yes, So, so I'd say a couple of things to that. One.

459
00:25:02,600 --> 00:25:05,080
Speaker 3: I've always loved sports, and one of the things I

460
00:25:05,119 --> 00:25:07,359
Speaker 3: wanted to do in the later chapter of my career

461
00:25:07,520 --> 00:25:11,080
Speaker 3: was find some opportunities where I could apply what I

462
00:25:11,119 --> 00:25:13,679
Speaker 3: thought I had learned in the business world to something

463
00:25:13,720 --> 00:25:16,639
Speaker 3: I love, which is sports. So the first opportunity that

464
00:25:16,760 --> 00:25:21,199
Speaker 3: came up, I was fortunate enough, through through a mutual

465
00:25:21,280 --> 00:25:24,600
Speaker 3: friend of mine and Bill Bully's, to be invited to

466
00:25:24,960 --> 00:25:26,879
Speaker 3: be in one of the friends and family groups that

467
00:25:28,520 --> 00:25:32,040
Speaker 3: invested in the Vegas Golden Knights before they before they

468
00:25:32,080 --> 00:25:35,520
Speaker 3: became an NHL franchise. So the first opportunity I had

469
00:25:35,560 --> 00:25:38,320
Speaker 3: to learn about the intersection of sports and business was

470
00:25:38,359 --> 00:25:42,359
Speaker 3: through the Vegas investment. Bill has run that club like

471
00:25:42,720 --> 00:25:48,120
Speaker 3: nothing I've ever seen. Just incredibly professional, really thoughtful, had

472
00:25:48,160 --> 00:25:50,639
Speaker 3: some of this similar concepts that we've tried to apply

473
00:25:50,680 --> 00:25:53,680
Speaker 3: in Venice about, you know, making the Vegas brand a

474
00:25:53,720 --> 00:25:57,280
Speaker 3: global brand with all the people who come and through

475
00:25:57,400 --> 00:26:01,000
Speaker 3: Vegas as visitors and watching how they were in the

476
00:26:01,200 --> 00:26:05,359
Speaker 3: organization both on and off the ice, really really taught

477
00:26:05,400 --> 00:26:07,280
Speaker 3: me a lot. So I guess you could say I've

478
00:26:07,320 --> 00:26:09,520
Speaker 3: moved from hockey in the desert, which people thought was

479
00:26:09,600 --> 00:26:12,200
Speaker 3: kind of a strange idea, to soccer on the water

480
00:26:12,240 --> 00:26:14,119
Speaker 3: because I think we have the only we we have

481
00:26:14,160 --> 00:26:16,080
Speaker 3: the only stadium that you have to get to by

482
00:26:16,119 --> 00:26:17,440
Speaker 3: boat in Europe.

483
00:26:18,080 --> 00:26:18,640
Speaker 4: That's amazing.

484
00:26:18,920 --> 00:26:22,440
Speaker 3: It's a pretty interesting transition. Yeah, So on the Vegas side,

485
00:26:22,440 --> 00:26:25,800
Speaker 3: obviously we're very I'm a small investor, We're very very passive.

486
00:26:26,320 --> 00:26:28,280
Speaker 3: We leave it to Bill on his guys to run.

487
00:26:28,359 --> 00:26:30,000
Speaker 3: We just we just watch and learn and it's been

488
00:26:30,040 --> 00:26:32,879
Speaker 3: a great learning experience and we're really proud of that franchise.

489
00:26:33,480 --> 00:26:35,560
Speaker 3: And then so in this case, we decided when the

490
00:26:35,560 --> 00:26:38,880
Speaker 3: opportunity came up in twenty twenty, here was another opportunity

491
00:26:38,920 --> 00:26:41,800
Speaker 3: to see if we could take some of those lessons

492
00:26:41,840 --> 00:26:44,959
Speaker 3: that we learned, apply them and try to do things

493
00:26:45,320 --> 00:26:47,720
Speaker 3: respectfully but differently. I mean, you know, that's going back

494
00:26:47,760 --> 00:26:49,560
Speaker 3: to the analytics piece. You know, a lot of teams

495
00:26:49,600 --> 00:26:52,040
Speaker 3: in Italy are still not leaning on analytics the way

496
00:26:52,160 --> 00:26:54,919
Speaker 3: we think they should or could. I guess in the

497
00:26:54,920 --> 00:26:57,960
Speaker 3: short run, that's good for us, but so we try

498
00:26:57,960 --> 00:27:00,159
Speaker 3: to do things differently. We're not afraid to have a

499
00:27:00,160 --> 00:27:02,560
Speaker 3: global team off the pitch. We're not afraid to have

500
00:27:02,600 --> 00:27:05,880
Speaker 3: a global team on the pitch. We invest in young players,

501
00:27:05,920 --> 00:27:08,639
Speaker 3: we invest in young professionals, We empower them and we

502
00:27:08,760 --> 00:27:12,480
Speaker 3: let them go do their thing. We've made some mistakes,

503
00:27:12,520 --> 00:27:16,080
Speaker 3: we've gotten some things right. But you know, I'm really

504
00:27:16,119 --> 00:27:17,720
Speaker 3: proud of what we've done and what we've done for

505
00:27:17,840 --> 00:27:20,679
Speaker 3: the city because a big part of my investment was

506
00:27:21,280 --> 00:27:23,560
Speaker 3: my wife and I both love Venice and we thought

507
00:27:23,600 --> 00:27:26,240
Speaker 3: this was it was nice to do something great for

508
00:27:26,280 --> 00:27:28,439
Speaker 3: the city too. So if we leave it better then

509
00:27:28,480 --> 00:27:30,080
Speaker 3: we found it, it's a good thing too.

510
00:27:30,160 --> 00:27:32,199
Speaker 1: Wait a minute, you slip something in there, and I

511
00:27:32,240 --> 00:27:36,040
Speaker 1: got to say, hey, whoa, wait, what You're the only

512
00:27:36,119 --> 00:27:41,440
Speaker 1: stadium where you have to get there by boat? You

513
00:27:42,240 --> 00:27:44,720
Speaker 1: how that worked? That that sounds like a show your idea.

514
00:27:44,800 --> 00:27:45,880
Speaker 1: I just want to hear more.

515
00:27:46,119 --> 00:27:50,040
Speaker 3: Yes, the right. So the stadium is even for those

516
00:27:50,040 --> 00:27:51,920
Speaker 3: of you who have been For those of your listeners

517
00:27:51,960 --> 00:27:54,399
Speaker 3: who have been to Venice many times, you might not

518
00:27:54,680 --> 00:27:56,919
Speaker 3: have even known until recently that we had a team.

519
00:27:57,520 --> 00:28:01,400
Speaker 3: The stadium is a small eleven thousand seats eleven thousand

520
00:28:01,440 --> 00:28:04,919
Speaker 3: only it's at the far end of Venice. So for

521
00:28:05,000 --> 00:28:06,879
Speaker 3: those of your listeners who have been to Venice, if

522
00:28:06,920 --> 00:28:09,679
Speaker 3: you never walked, you know, east of San Mark's Square,

523
00:28:09,800 --> 00:28:13,800
Speaker 3: Saint Mark's Square San Marco, or if you've been even

524
00:28:13,840 --> 00:28:16,679
Speaker 3: if you've been to the b a Ali, you almost

525
00:28:16,720 --> 00:28:18,720
Speaker 3: made it to the stadium. But the stadiums at the

526
00:28:18,760 --> 00:28:22,200
Speaker 3: far end. It's it's surrounded by water on all four sides,

527
00:28:22,280 --> 00:28:25,040
Speaker 3: so you can get there on foot over a bridge.

528
00:28:25,760 --> 00:28:28,600
Speaker 3: The visiting team arrives by boat, which we think is

529
00:28:28,680 --> 00:28:31,280
Speaker 3: part of our home field advantage because if you're not

530
00:28:31,359 --> 00:28:33,800
Speaker 3: used to riding on a boat. At the end the lagos,

531
00:28:35,560 --> 00:28:37,640
Speaker 3: let's just say the guys, some of the guys look

532
00:28:37,640 --> 00:28:39,800
Speaker 3: a little queasy when they arrive and you know that's

533
00:28:39,920 --> 00:28:41,360
Speaker 3: part of the home advantage.

534
00:28:41,720 --> 00:28:45,120
Speaker 1: Take the bottle, white guys and watch the boat rock. Yeah,

535
00:28:45,160 --> 00:28:45,680
Speaker 1: I like that.

536
00:28:46,120 --> 00:28:49,160
Speaker 3: Yeah, And if you and if you go ahead, Dami,

537
00:28:49,160 --> 00:28:49,720
Speaker 3: Im sure.

538
00:28:49,760 --> 00:28:51,840
Speaker 2: I was just going to say, it's so unbelievable because

539
00:28:51,840 --> 00:28:53,720
Speaker 2: we're we're just dumb Americans here, you know, we know

540
00:28:53,760 --> 00:28:56,760
Speaker 2: our are It's all about Ted Lasso for US English

541
00:28:56,760 --> 00:28:57,360
Speaker 2: Premier League.

542
00:28:57,360 --> 00:28:58,360
Speaker 3: So talk to us a little.

543
00:28:58,120 --> 00:29:02,400
Speaker 2: Bit about left hand yea just Italian soccer, you know,

544
00:29:02,440 --> 00:29:05,560
Speaker 2: and how that stacks up relative to a Ligue or Bundesliga.

545
00:29:05,680 --> 00:29:10,320
Speaker 2: The visibility I mean, I mean, I'm talking inter Milan, Acy, Milan, Juventus.

546
00:29:10,320 --> 00:29:12,440
Speaker 2: I mean, yeah, you know, how do we get their

547
00:29:12,520 --> 00:29:15,840
Speaker 2: profile on the international stage to kind of you know,

548
00:29:15,880 --> 00:29:17,400
Speaker 2: get to where it needs to be.

549
00:29:17,480 --> 00:29:22,080
Speaker 3: Quite frankly, it's a question we ask ourselves all the time.

550
00:29:22,080 --> 00:29:23,840
Speaker 3: And it's a question I think is more and more

551
00:29:23,880 --> 00:29:29,440
Speaker 3: teams in Italy are owned by non Italian groups. I

552
00:29:29,480 --> 00:29:31,680
Speaker 3: think that it's a question that's being brought up more

553
00:29:31,720 --> 00:29:34,080
Speaker 3: and more because if you think back to the recent

554
00:29:34,160 --> 00:29:37,640
Speaker 3: history of soccer, go back a quarter century ago, the

555
00:29:37,640 --> 00:29:40,440
Speaker 3: top players wanted to play in Italy, right, So this

556
00:29:40,520 --> 00:29:42,680
Speaker 3: goes back to what Scarlett asked earlier about people in

557
00:29:42,720 --> 00:29:45,440
Speaker 3: that company of the US and the top players like

558
00:29:46,000 --> 00:29:47,800
Speaker 3: they didn't want to play in the Premier League. They

559
00:29:47,880 --> 00:29:49,800
Speaker 3: wanted to play in Europe. And if they were going

560
00:29:49,880 --> 00:29:52,040
Speaker 3: to Europe, they wanted to play in Italy. Italy was

561
00:29:52,120 --> 00:29:54,640
Speaker 3: viewed to be the best place to play football twenty

562
00:29:54,680 --> 00:29:57,120
Speaker 3: years ago. If we're honest, it is not right now.

563
00:29:58,360 --> 00:30:01,200
Speaker 3: It has lost its edge. And what we talk a

564
00:30:01,240 --> 00:30:05,040
Speaker 3: lot about in the league circles is part of it

565
00:30:05,080 --> 00:30:07,760
Speaker 3: is think about what the other successful leagues around the

566
00:30:07,760 --> 00:30:09,920
Speaker 3: world have done. We talk about this all the time.

567
00:30:10,600 --> 00:30:13,840
Speaker 3: The biggest leagues in the United States. One thing they

568
00:30:13,880 --> 00:30:18,840
Speaker 3: all have in common is the big teams, maybe against

569
00:30:18,920 --> 00:30:22,480
Speaker 3: you know, their intuition, decided to share the wealth in

570
00:30:22,520 --> 00:30:25,280
Speaker 3: a way that they had not before. You know, revenue

571
00:30:25,280 --> 00:30:28,720
Speaker 3: distribution on media packages, things like that. What that has

572
00:30:28,800 --> 00:30:31,240
Speaker 3: done with the benefit of hindsight, as you guys all

573
00:30:31,280 --> 00:30:34,640
Speaker 3: know because you cover this, you know day to day,

574
00:30:35,280 --> 00:30:41,280
Speaker 3: the pies in those businesses have grown exponentially, So everybody won.

575
00:30:41,400 --> 00:30:43,200
Speaker 3: Even the teams for whom it might not have been

576
00:30:43,240 --> 00:30:47,080
Speaker 3: obvious to share the wealth, they've also won. This has

577
00:30:47,200 --> 00:30:51,520
Speaker 3: not happened in Italy. Like the economics are not distributed

578
00:30:51,880 --> 00:30:55,600
Speaker 3: I think appropriately. I think the big clubs capture too

579
00:30:55,680 --> 00:30:58,680
Speaker 3: much of the economics the way the systems have been created.

580
00:30:59,040 --> 00:31:01,080
Speaker 3: And if you look at the table in Italy the

581
00:31:01,120 --> 00:31:03,440
Speaker 3: last ten years and you look at the top six

582
00:31:03,560 --> 00:31:06,400
Speaker 3: seven teams, almost every year it's the same six or

583
00:31:06,440 --> 00:31:09,120
Speaker 3: seven teams. If you look at the Premier League, that

584
00:31:09,240 --> 00:31:12,240
Speaker 3: isn't always the case, right, You'll have You'll have a

585
00:31:12,320 --> 00:31:15,160
Speaker 3: Leicester City come out of nowhere one year and be

586
00:31:15,200 --> 00:31:17,640
Speaker 3: able to compete for the league. Right, there's a lot

587
00:31:17,680 --> 00:31:22,280
Speaker 3: more parody Scarlett exactly, and and fans like parody right

588
00:31:22,520 --> 00:31:25,160
Speaker 3: because it makes the games more competitive, It makes it

589
00:31:25,200 --> 00:31:29,160
Speaker 3: makes must eat TV. And I think in Italy, I mean,

590
00:31:29,600 --> 00:31:31,800
Speaker 3: I'm proud of how we played it. We tied Uventus

591
00:31:31,800 --> 00:31:34,680
Speaker 3: to one year, we were in Syria, we beat we

592
00:31:34,760 --> 00:31:38,400
Speaker 3: beat Fiorentino, one time, we beat Roma, like, but I

593
00:31:38,440 --> 00:31:42,080
Speaker 3: mean most of the time people were like, really Venice

594
00:31:42,160 --> 00:31:44,760
Speaker 3: playing the lawn like I don't know, if I got

595
00:31:44,760 --> 00:31:47,400
Speaker 3: to waste you know, watch that whereas you want. If

596
00:31:47,400 --> 00:31:50,920
Speaker 3: every game were competitive, I think, and they distributed the

597
00:31:50,960 --> 00:31:54,600
Speaker 3: media pied differently. I think the big clubs are scared

598
00:31:54,600 --> 00:31:57,920
Speaker 3: of that. Notion, but I think in the long run,

599
00:31:58,080 --> 00:32:01,560
Speaker 3: you know that it would grow, It would grow everyone's

600
00:32:02,120 --> 00:32:05,360
Speaker 3: you know economics, and I think I'm hopeful that that's

601
00:32:05,360 --> 00:32:07,600
Speaker 3: why some people are investing still in Italy, because they

602
00:32:07,640 --> 00:32:10,440
Speaker 3: realize you make a few of those decisions, the valuation

603
00:32:10,560 --> 00:32:11,640
Speaker 3: can really be in lock here.

604
00:32:11,800 --> 00:32:14,200
Speaker 2: Yeah, forget about ted last and we need Giuseppe Lasso

605
00:32:14,320 --> 00:32:15,960
Speaker 2: on Netflix in order to raise the.

606
00:32:15,920 --> 00:32:19,480
Speaker 3: Profile exactly exactly.

607
00:32:20,280 --> 00:32:24,720
Speaker 1: Talking Metaur, you are just You're kind, so kind, President

608
00:32:24,800 --> 00:32:28,920
Speaker 1: of Anzia and I'm rooting for you guys. I just

609
00:32:28,920 --> 00:32:31,920
Speaker 1: just alone with you that you have to go by

610
00:32:31,960 --> 00:32:34,520
Speaker 1: a boat to get to the stadium. I like that

611
00:32:34,680 --> 00:32:37,120
Speaker 1: part of it right there. Thank you again.

612
00:32:38,640 --> 00:32:40,760
Speaker 3: Yeah, thank you guys for having me on and I

613
00:32:40,800 --> 00:32:44,760
Speaker 3: really appreciate it. And you know, have a great rest

614
00:32:44,800 --> 00:32:47,560
Speaker 3: of the summer, and thanks for rooting for us, and

615
00:32:48,160 --> 00:32:50,440
Speaker 3: keep an eye out for the new kid. We released

616
00:32:50,440 --> 00:32:54,240
Speaker 3: the away jersey later this week with one of Venice's icons,

617
00:32:54,280 --> 00:32:56,400
Speaker 3: so keep an eye out for that and we'll see

618
00:32:56,400 --> 00:32:57,040
Speaker 3: you all out there.

619
00:32:57,160 --> 00:32:58,320
Speaker 4: We'll see it on social media.

620
00:32:58,360 --> 00:33:04,440
Speaker 1: I'm sure that's Fanizia FC. President Duncan Nita Auer, We

621
00:33:04,680 --> 00:33:08,440
Speaker 1: thank you so much for your time today. Up next

622
00:33:08,560 --> 00:33:10,520
Speaker 1: On the show, we take a look at a tech

623
00:33:10,600 --> 00:33:15,040
Speaker 1: firm looking to change the game of workforce training. Straight

624
00:33:15,040 --> 00:33:18,320
Speaker 1: ahead on the Bloomberg Business of Sports Bloomberg Radio around

625
00:33:18,400 --> 00:33:28,240
Speaker 1: the world. This is the Bloomberg Business of Sports show

626
00:33:28,240 --> 00:33:30,320
Speaker 1: where we explore the big money issues in the world

627
00:33:30,320 --> 00:33:34,200
Speaker 1: of sports. Michael bar for Scarlet Foo and Damian Sas hour.

628
00:33:34,600 --> 00:33:38,880
Speaker 1: One Huddle is a platform that supports workforce training through games,

629
00:33:39,200 --> 00:33:42,040
Speaker 1: and it's already being used by the San Francisco forty

630
00:33:42,120 --> 00:33:46,400
Speaker 1: nine Ers, the Golden State Warriors, Denver International Airport, and more.

631
00:33:46,640 --> 00:33:51,800
Speaker 1: We have the founder and CEO, Samkyuchi, who is here

632
00:33:51,840 --> 00:33:55,840
Speaker 1: to talk to us about one Huddle. First of all, Sam,

633
00:33:56,200 --> 00:33:57,920
Speaker 1: thank you so much for joining us in the Bloomberg

634
00:33:57,960 --> 00:34:02,440
Speaker 1: Business of Sports. Thanks for me So, Sam, what is it?

635
00:34:02,880 --> 00:34:04,320
Speaker 1: What is one Huddle?

636
00:34:06,040 --> 00:34:06,240
Speaker 3: Sure?

637
00:34:06,320 --> 00:34:09,359
Speaker 5: One Huddle is a We're a tech company early stage.

638
00:34:09,920 --> 00:34:14,959
Speaker 5: We turn anything that a employee needs to know into

639
00:34:15,080 --> 00:34:18,239
Speaker 5: a game on their phone. So I'm sure all of

640
00:34:18,320 --> 00:34:21,560
Speaker 5: us can remember a time, maybe it happened this week,

641
00:34:21,600 --> 00:34:24,000
Speaker 5: Maybe it happened, you know over our career where we

642
00:34:24,080 --> 00:34:26,719
Speaker 5: got onboarded and we were forced to watch a bunch

643
00:34:26,760 --> 00:34:29,960
Speaker 5: of videos or read a bunch of manuals and click

644
00:34:30,000 --> 00:34:33,120
Speaker 5: through a bunch of stuff. We take again, anything an

645
00:34:33,120 --> 00:34:35,000
Speaker 5: employee needs to know to get them ready to work,

646
00:34:35,040 --> 00:34:37,920
Speaker 5: get them prepared, get them coached up, and again we

647
00:34:38,000 --> 00:34:42,200
Speaker 5: turn it into a mobile based interactive skill game. Makes

648
00:34:42,200 --> 00:34:44,560
Speaker 5: it more fun, makes it more engaging, makes it more competitive.

649
00:34:46,080 --> 00:34:47,160
Speaker 1: Very good. I like that.

650
00:34:47,880 --> 00:34:50,920
Speaker 4: So your clients include the San Francisco forty nine Ers,

651
00:34:50,960 --> 00:34:55,480
Speaker 4: the Golden State Warriors, among other teams, among other franchises.

652
00:34:55,960 --> 00:34:59,120
Speaker 4: Tell us how you tailor your offerings to sports teams

653
00:34:59,120 --> 00:35:00,239
Speaker 4: and sports franchisees.

654
00:35:01,400 --> 00:35:01,680
Speaker 3: Sure.

655
00:35:01,719 --> 00:35:05,359
Speaker 5: As a startup, Actually, our first client ever was a

656
00:35:05,400 --> 00:35:08,920
Speaker 5: sports team. Client number one was Monumental Sports and Entertainment

657
00:35:09,000 --> 00:35:12,319
Speaker 5: ted Leonsis and the team owned the Washington Capitals and

658
00:35:12,320 --> 00:35:16,759
Speaker 5: the Washington Wizards. And when I was talking to those folks,

659
00:35:16,960 --> 00:35:19,840
Speaker 5: one of their biggest challenges is how do we get

660
00:35:19,880 --> 00:35:23,040
Speaker 5: a new ticket sales rep, a new guest services rep,

661
00:35:23,160 --> 00:35:25,799
Speaker 5: somebody who just moved to DC and needs to know

662
00:35:25,840 --> 00:35:28,960
Speaker 5: a lot about a venue that hosts three hundred events

663
00:35:29,000 --> 00:35:33,759
Speaker 5: a year and their revenue impacting because these are entry

664
00:35:33,840 --> 00:35:38,120
Speaker 5: level roles that are selling ticket, sponsorship, partnership, everything around

665
00:35:38,160 --> 00:35:41,520
Speaker 5: the venue. So what we did for Monumental, what we

666
00:35:41,640 --> 00:35:43,960
Speaker 5: do for Madison Square Garden. Some of the brands you

667
00:35:44,040 --> 00:35:48,680
Speaker 5: mentioned is we'll take the playbooks and the seating charts

668
00:35:48,840 --> 00:35:52,799
Speaker 5: and the feature and benefit sheets, and we have a

669
00:35:53,000 --> 00:35:58,640
Speaker 5: proprietary platform that will convert that material into a library

670
00:35:58,760 --> 00:36:02,000
Speaker 5: of trivia games. So think of it like some folks

671
00:36:02,040 --> 00:36:05,880
Speaker 5: may know dual lingo to learn a language, or trivia

672
00:36:06,000 --> 00:36:08,880
Speaker 5: crack or quiz up or other trivia games or wordle.

673
00:36:09,640 --> 00:36:13,560
Speaker 5: So now if you're that ticket sales rep just got hired,

674
00:36:14,000 --> 00:36:16,920
Speaker 5: you will learn everything you need to know about the venue,

675
00:36:17,040 --> 00:36:22,520
Speaker 5: the team, the tickets you're selling by playing these these

676
00:36:22,560 --> 00:36:24,719
Speaker 5: series of games and games drop every week, so it

677
00:36:24,800 --> 00:36:28,200
Speaker 5: keeps it really competitive and connects everybody on a leader board.

678
00:36:28,239 --> 00:36:31,400
Speaker 5: And so we're not only just skilling people up of

679
00:36:31,440 --> 00:36:33,640
Speaker 5: connecting them more, which I think is really important today

680
00:36:33,640 --> 00:36:34,960
Speaker 5: when we think about the future of work.

681
00:36:35,400 --> 00:36:36,920
Speaker 2: Sam, I love it. I think, I mean, what we're

682
00:36:36,920 --> 00:36:40,120
Speaker 2: talking about here is the broader trend of gamification, right,

683
00:36:40,239 --> 00:36:42,439
Speaker 2: you know whatever that means. But you know, my question

684
00:36:42,520 --> 00:36:44,680
Speaker 2: for you is do you find that your clients are

685
00:36:44,760 --> 00:36:48,359
Speaker 2: more interested in potential productivity games or is it really

686
00:36:48,400 --> 00:36:50,120
Speaker 2: more about reducing the cost of compliance.

687
00:36:50,760 --> 00:36:54,680
Speaker 5: So before COVID, it was definitely compliance and you know,

688
00:36:55,320 --> 00:36:58,920
Speaker 5: sales service related, anything that impacted the revenue was priority

689
00:36:59,000 --> 00:37:02,480
Speaker 5: number one. Coming out the other side of COVID, keeping

690
00:37:02,520 --> 00:37:07,880
Speaker 5: people together, keeping people connected has become more important than ever.

691
00:37:08,560 --> 00:37:11,719
Speaker 5: The gallup who does I don't know twenty five one

692
00:37:11,800 --> 00:37:14,279
Speaker 5: hundred reports every ten seconds. It feels like they just

693
00:37:14,280 --> 00:37:16,080
Speaker 5: came out with their most recent one. It said that

694
00:37:17,000 --> 00:37:20,640
Speaker 5: employee engagement is a nine year low, even lower than

695
00:37:20,640 --> 00:37:23,279
Speaker 5: it was during the pandemic. Employees are showing up to work.

696
00:37:23,360 --> 00:37:25,080
Speaker 5: It's not that they don't know what to do, it's

697
00:37:25,120 --> 00:37:28,080
Speaker 5: also that they may not want to do it. So today,

698
00:37:28,160 --> 00:37:31,359
Speaker 5: some of the most popular games we build for some

699
00:37:31,400 --> 00:37:34,440
Speaker 5: of the organizations we work with like YUEIFA and Madison

700
00:37:34,440 --> 00:37:37,600
Speaker 5: Square Garden are games on each other. You know, games

701
00:37:37,640 --> 00:37:40,960
Speaker 5: on knowing what the community is doing, knowing what the players,

702
00:37:41,280 --> 00:37:43,879
Speaker 5: who the players are on the court, knowing about who

703
00:37:43,960 --> 00:37:46,839
Speaker 5: your team member, your colleague is, standing to your left

704
00:37:46,920 --> 00:37:49,520
Speaker 5: or your right, because we find that if you feel

705
00:37:49,520 --> 00:37:51,479
Speaker 5: better connected to the place you come to every day,

706
00:37:52,160 --> 00:37:55,359
Speaker 5: just like players on the on the field, you're more

707
00:37:55,440 --> 00:37:56,560
Speaker 5: likely to perform your best.

708
00:37:57,600 --> 00:38:01,280
Speaker 1: Talking with Sam Sayuchi, CEO and found of One Huddle,

709
00:38:01,560 --> 00:38:04,160
Speaker 1: one Thing, I like about this, Sam well a number

710
00:38:04,160 --> 00:38:07,759
Speaker 1: of things, but at least eighty one percent of the

711
00:38:07,840 --> 00:38:12,239
Speaker 1: games are played outside of the office. For a simpleton

712
00:38:12,400 --> 00:38:14,840
Speaker 1: like me, I need a question like what do you

713
00:38:14,920 --> 00:38:17,480
Speaker 1: tell your boss a ready to go to work? Or

714
00:38:17,600 --> 00:38:21,320
Speaker 1: b oooh did I party hard last night? And I

715
00:38:21,360 --> 00:38:22,920
Speaker 1: don't even want to tell you about the fines I

716
00:38:23,040 --> 00:38:26,720
Speaker 1: racked up. What you need to do is have something

717
00:38:26,840 --> 00:38:30,880
Speaker 1: like this that have the entertainment value and the excitement

718
00:38:31,239 --> 00:38:33,120
Speaker 1: outside of the office. And it's important.

719
00:38:33,640 --> 00:38:37,480
Speaker 5: You mentioned gamification a second ago, and the average millennial

720
00:38:37,840 --> 00:38:40,239
Speaker 5: will have played over ten thousand hours on a game

721
00:38:40,280 --> 00:38:44,320
Speaker 5: platform before twenty one years old. Gen Z is beating

722
00:38:44,360 --> 00:38:47,960
Speaker 5: that trend, and jen alpis coming up right behind them.

723
00:38:48,000 --> 00:38:50,759
Speaker 5: So if you're tired of complaining about millennial and gen Z,

724
00:38:50,920 --> 00:38:55,000
Speaker 5: get ready. The point you just made about off the clock,

725
00:38:55,400 --> 00:38:59,640
Speaker 5: we think is so important. Workers today need to get

726
00:38:59,760 --> 00:39:02,839
Speaker 5: up this speed faster than ever before, given the rate

727
00:39:02,920 --> 00:39:06,920
Speaker 5: of their job changing. In a sports environment where information

728
00:39:07,000 --> 00:39:10,760
Speaker 5: is changing rapidly or AI is affecting the functions of work,

729
00:39:11,200 --> 00:39:13,920
Speaker 5: we need to use technology to meet workers wherever they

730
00:39:13,960 --> 00:39:17,000
Speaker 5: are and it can't just be you know, between nine

731
00:39:17,040 --> 00:39:19,319
Speaker 5: and five. So we think that how do you do that.

732
00:39:19,360 --> 00:39:20,680
Speaker 5: You've got to make it fun, you got to make

733
00:39:20,680 --> 00:39:22,960
Speaker 5: it interactive. That's why we made it a game. It's

734
00:39:23,000 --> 00:39:24,759
Speaker 5: got to be something that's mobile so it can hit

735
00:39:24,760 --> 00:39:27,359
Speaker 5: them wherever they are. That's where we you know, play

736
00:39:27,360 --> 00:39:30,520
Speaker 5: on iOS and Android. But we think that the concept

737
00:39:30,520 --> 00:39:33,759
Speaker 5: of edutainment, you know, educating people as you're entertaining them,

738
00:39:34,239 --> 00:39:36,600
Speaker 5: is a really powerful way to get our workforce ready

739
00:39:36,600 --> 00:39:36,960
Speaker 5: to work.

740
00:39:37,880 --> 00:39:41,360
Speaker 4: Sam you are also an adjunct professor in Global Sports

741
00:39:41,360 --> 00:39:44,560
Speaker 4: Business at Rutgers as part of the MS program. Can

742
00:39:44,600 --> 00:39:46,319
Speaker 4: you tell us a little bit about how you see

743
00:39:46,360 --> 00:39:50,160
Speaker 4: AI and software changing the future of sports executive's role.

744
00:39:50,640 --> 00:39:52,840
Speaker 5: I think it's going to change everything. I think that

745
00:39:52,880 --> 00:39:55,600
Speaker 5: there's you know, so much talk about you know AI.

746
00:39:56,040 --> 00:39:58,080
Speaker 5: You know, you're kind of there's two sides of the fence.

747
00:39:58,160 --> 00:40:00,600
Speaker 5: It's going to it's going to take every job, or

748
00:40:00,640 --> 00:40:03,640
Speaker 5: it's going to just you know, create more jobs. I

749
00:40:03,640 --> 00:40:05,960
Speaker 5: think it's going to land someplace in the middle. What

750
00:40:06,120 --> 00:40:10,319
Speaker 5: excites me about AI is it's going to force our

751
00:40:10,480 --> 00:40:14,040
Speaker 5: executives in the sports management and sports world to be

752
00:40:14,360 --> 00:40:18,480
Speaker 5: great at being human Because the one thing AI can't do,

753
00:40:19,080 --> 00:40:21,719
Speaker 5: the one thing that machines can't do is be better

754
00:40:21,760 --> 00:40:25,160
Speaker 5: than us at being human and as we use cash

755
00:40:25,239 --> 00:40:29,040
Speaker 5: ept to prompt responses. That's all well and good, but

756
00:40:29,360 --> 00:40:33,480
Speaker 5: the innovations around AI are really going to force human

757
00:40:33,520 --> 00:40:37,440
Speaker 5: resource teams, leadership executives to find ways to be the

758
00:40:37,480 --> 00:40:40,480
Speaker 5: best form of of what we are every day.

759
00:40:40,560 --> 00:40:42,600
Speaker 4: What's an example of being human? Being human in my

760
00:40:42,640 --> 00:40:45,239
Speaker 4: mind means making mistakes and also admitting to them when

761
00:40:45,239 --> 00:40:47,440
Speaker 4: you make mistake, and also stumbling upon something that you

762
00:40:47,480 --> 00:40:48,160
Speaker 4: didn't intend.

763
00:40:49,040 --> 00:40:51,960
Speaker 5: I think that it means that we have to understand,

764
00:40:51,960 --> 00:40:54,640
Speaker 5: you know, being able to relate and connect to each other,

765
00:40:55,040 --> 00:40:58,239
Speaker 5: being able to be find novelty to I think that

766
00:40:58,400 --> 00:41:02,640
Speaker 5: being able to connect with our learned experiences with each other.

767
00:41:03,000 --> 00:41:05,000
Speaker 5: You know, you think about workers at work every day

768
00:41:05,040 --> 00:41:07,920
Speaker 5: who are doing repetitive job functions. We weren't built to

769
00:41:08,000 --> 00:41:10,920
Speaker 5: do a lot of a lot of what work has become.

770
00:41:11,480 --> 00:41:13,080
Speaker 5: And I think that what AI is going to do

771
00:41:13,120 --> 00:41:15,280
Speaker 5: is it's going to take a lot of repetitive functions away,

772
00:41:15,320 --> 00:41:18,400
Speaker 5: because the one thing that a machine can do is

773
00:41:18,520 --> 00:41:22,040
Speaker 5: repetitive functions better than humans. But that's going to free

774
00:41:22,120 --> 00:41:25,840
Speaker 5: us up to be able to use use the power

775
00:41:25,880 --> 00:41:31,080
Speaker 5: of connectivity and the power of strategy and and then

776
00:41:31,120 --> 00:41:32,640
Speaker 5: free us up to do the things that I think

777
00:41:32,640 --> 00:41:34,239
Speaker 5: that as humans we were intended to do. And I

778
00:41:34,239 --> 00:41:35,840
Speaker 5: think we see that in the world of sport. You know,

779
00:41:35,880 --> 00:41:39,480
Speaker 5: I teach a sales track and revenue generation class in sports.

780
00:41:39,800 --> 00:41:41,880
Speaker 5: Ten years ago, salespeople used to write a lot of

781
00:41:41,920 --> 00:41:44,960
Speaker 5: emails and set them on automated you know, automated send,

782
00:41:45,040 --> 00:41:48,080
Speaker 5: and you know cold calls that were largely being robotic.

783
00:41:48,800 --> 00:41:51,880
Speaker 5: These innovations in AI are freeing up sales forces to

784
00:41:51,960 --> 00:41:55,280
Speaker 5: be able to do things, to connect with their consumers better,

785
00:41:55,960 --> 00:41:58,439
Speaker 5: and in many ways has been stepping out from behind

786
00:41:58,440 --> 00:42:00,440
Speaker 5: the computer and getting more face to face with our

787
00:42:00,560 --> 00:42:02,200
Speaker 5: with our guests and our customer Sam.

788
00:42:02,200 --> 00:42:04,040
Speaker 2: I think Carlo asked it a little bit earlier. I'm

789
00:42:04,040 --> 00:42:06,480
Speaker 2: gonna asking it a different way. Why sports franchises, I mean,

790
00:42:06,520 --> 00:42:09,480
Speaker 2: why the front and back offices of these major sport franchises.

791
00:42:09,480 --> 00:42:10,759
Speaker 2: What makes I mean it seems like a little bit

792
00:42:10,800 --> 00:42:13,600
Speaker 2: of a niche market. No, I mean, you know, talk

793
00:42:13,640 --> 00:42:15,960
Speaker 2: to us. Why are they such a big consumer of

794
00:42:16,040 --> 00:42:16,640
Speaker 2: your product?

795
00:42:16,760 --> 00:42:18,920
Speaker 5: So when I started the company, like any tech startup,

796
00:42:19,040 --> 00:42:21,640
Speaker 5: you try to find your first market to enter. And

797
00:42:22,160 --> 00:42:24,319
Speaker 5: when we looked around, you know, we said that what

798
00:42:24,400 --> 00:42:27,680
Speaker 5: is what is something in every market that brings everybody together?

799
00:42:28,000 --> 00:42:29,920
Speaker 5: You know, you look at LA you look at San Francisco,

800
00:42:29,920 --> 00:42:31,480
Speaker 5: you look at New York, you look at d C.

801
00:42:32,160 --> 00:42:35,520
Speaker 5: Where does everybody come, regardless of vertical, regardless of industry,

802
00:42:35,560 --> 00:42:39,040
Speaker 5: regardless of wage class. And it's the sports venue. You know,

803
00:42:39,120 --> 00:42:42,200
Speaker 5: it's Capital One Arena, it's Madison Square Garden. You know,

804
00:42:42,239 --> 00:42:46,319
Speaker 5: it's Levi Stadium, it's Sofi Stadium. And we said that,

805
00:42:46,520 --> 00:42:48,799
Speaker 5: you know, as a early stage company, we have to

806
00:42:48,840 --> 00:42:51,960
Speaker 5: either succeed fast or fail fast. And we said, there's

807
00:42:51,960 --> 00:42:55,200
Speaker 5: only one hundred and twenty plus sports franchises in the US.

808
00:42:55,640 --> 00:42:58,719
Speaker 5: Let's target those as our starting point. And you know,

809
00:42:58,760 --> 00:43:00,839
Speaker 5: it's been a great you know, it's been an opportunity

810
00:43:00,840 --> 00:43:03,919
Speaker 5: for us to not just land and learn, but we've

811
00:43:03,960 --> 00:43:08,160
Speaker 5: also simultaneously learned that at a sports venue, the types

812
00:43:08,200 --> 00:43:10,319
Speaker 5: of people that come into a sports venue to work

813
00:43:10,360 --> 00:43:14,279
Speaker 5: every day range our community. When it comes to like

814
00:43:14,360 --> 00:43:19,160
Speaker 5: socioeconomic backgrounds. You literally have hourly workers who are walking

815
00:43:19,200 --> 00:43:22,600
Speaker 5: into work the gate, who have more than likely don't

816
00:43:22,600 --> 00:43:25,239
Speaker 5: have a college degree, more than likely struggle with credentials.

817
00:43:25,520 --> 00:43:27,960
Speaker 5: And then you also have someone who walks into the

818
00:43:28,040 --> 00:43:31,520
Speaker 5: corner office who has a four year or advanced degree,

819
00:43:31,719 --> 00:43:35,320
Speaker 5: who's making six figures, and they're working side by side.

820
00:43:35,560 --> 00:43:37,719
Speaker 5: So one part of me as an early stage company,

821
00:43:37,760 --> 00:43:39,440
Speaker 5: which we said we wanted to do, this would be

822
00:43:39,440 --> 00:43:42,640
Speaker 5: an opportunity for us to learn our product can affect

823
00:43:42,640 --> 00:43:45,680
Speaker 5: people in a community. And in the process we learned

824
00:43:45,840 --> 00:43:48,560
Speaker 5: that what one Huddle is really doing is not just

825
00:43:48,760 --> 00:43:52,080
Speaker 5: training people for work, but it's creating an environment where

826
00:43:52,120 --> 00:43:55,200
Speaker 5: every worker, regardless of where you sit in your community,

827
00:43:55,680 --> 00:43:59,799
Speaker 5: can compete to win the job that you may want

828
00:43:59,840 --> 00:44:03,279
Speaker 5: to pursue. But right now you may just be in concessions.

829
00:44:03,719 --> 00:44:05,680
Speaker 5: But if you want to be the ticket sales rep next,

830
00:44:06,280 --> 00:44:06,879
Speaker 5: win the game.

831
00:44:07,400 --> 00:44:12,279
Speaker 1: Sam Sayucci, CEO and founder of one Huddle, I'm expecting

832
00:44:12,360 --> 00:44:15,000
Speaker 1: the box home game version of this because this is

833
00:44:15,040 --> 00:44:17,080
Speaker 1: gonna this can take over. I like that.

834
00:44:17,120 --> 00:44:19,840
Speaker 2: I'm expecting sports books to start making, you know, lines

835
00:44:19,880 --> 00:44:21,600
Speaker 2: on whether or not somebody passes their compliance.

836
00:44:25,360 --> 00:44:26,080
Speaker 5: That would be wild.

837
00:44:26,480 --> 00:44:29,480
Speaker 1: This is why we can't have nice things. See. Thank you, Sam,

838
00:44:29,800 --> 00:44:32,240
Speaker 1: appreciate it. Thank you for joining us on the Bloomberg

839
00:44:32,280 --> 00:44:34,680
Speaker 1: Business of Sports. Up next, we take a look at

840
00:44:34,719 --> 00:44:38,680
Speaker 1: the latest episode of Next in Sports, a Bloomberg Originals

841
00:44:38,760 --> 00:44:43,600
Speaker 1: program exploring news sports as well as innovations and existing pastimes.

842
00:44:43,960 --> 00:44:47,200
Speaker 1: That's up next on the Bloomberg Business of Sports podcast

843
00:44:47,239 --> 00:44:59,040
Speaker 1: from Bloomberg Radio around the world. This is the Bloomberg

844
00:44:59,120 --> 00:45:01,279
Speaker 1: Business of Sports. Oh well, we explored the big money

845
00:45:01,320 --> 00:45:04,400
Speaker 1: issues in the world of sports. I'm Michael Barr. Next

846
00:45:04,480 --> 00:45:08,160
Speaker 1: in Sports is a Bloomberg Originals program that explores news,

847
00:45:08,200 --> 00:45:13,359
Speaker 1: sports as well as innovations and existing pastimes. Really illustrating

848
00:45:13,640 --> 00:45:17,839
Speaker 1: what's happening around the corner and across the globe. This week,

849
00:45:17,920 --> 00:45:22,160
Speaker 1: hosts Jason Kelly and Vanessa Perdomo go out and explore

850
00:45:22,200 --> 00:45:28,120
Speaker 1: the interesting world of kabati, a traditional game from India

851
00:45:28,280 --> 00:45:31,360
Speaker 1: that's looking to become the biggest sport in the world's

852
00:45:31,440 --> 00:45:35,279
Speaker 1: most populous nation. Scarlett fu sat down with Jason and

853
00:45:35,360 --> 00:45:37,640
Speaker 1: Vanessa that talk about the show. Let's take a listen

854
00:45:37,760 --> 00:45:39,160
Speaker 1: to a bit of their conversation.

855
00:45:39,320 --> 00:45:41,000
Speaker 8: I don't even know where to begin on this one

856
00:45:41,080 --> 00:45:43,400
Speaker 8: because it was our biggest adventure.

857
00:45:43,560 --> 00:45:47,279
Speaker 9: Yeah for sure, definitely overseas travel traveled to.

858
00:45:47,320 --> 00:45:51,120
Speaker 8: India, to Mumbai and into its outskirts to you know,

859
00:45:51,360 --> 00:45:54,879
Speaker 8: play and learn about kabati, which was invented roughly four

860
00:45:54,880 --> 00:45:59,839
Speaker 8: thousand years ago, the Buddha reportedly played Kabati, but many

861
00:45:59,840 --> 00:46:01,399
Speaker 8: of us had never heard of it. It was brought

862
00:46:01,480 --> 00:46:04,799
Speaker 8: to us by our terrific producer, Robin Fall, who's based

863
00:46:04,840 --> 00:46:06,839
Speaker 8: in Hong Kong, who's done a lot of work in

864
00:46:06,840 --> 00:46:10,000
Speaker 8: India and who is with us there. Uh, it's wild.

865
00:46:10,040 --> 00:46:11,280
Speaker 8: How would you describe it?

866
00:46:11,280 --> 00:46:17,240
Speaker 9: It is a mix between tag, red rover and wrestling.

867
00:46:17,360 --> 00:46:19,080
Speaker 8: Yeah, and like straight up.

868
00:46:19,080 --> 00:46:21,879
Speaker 9: Like literally all three of those things combined. And when

869
00:46:21,920 --> 00:46:25,680
Speaker 9: we went to see the you know pros in training

870
00:46:25,800 --> 00:46:29,120
Speaker 9: or you know an academy where pros are training, the

871
00:46:29,760 --> 00:46:32,560
Speaker 9: guy who runs it basically said that we do these

872
00:46:32,560 --> 00:46:35,760
Speaker 9: sorts of movements specifically for wrestling. We do these sorts

873
00:46:35,760 --> 00:46:38,879
Speaker 9: of movements specifically for tag, you know. And I think

874
00:46:38,920 --> 00:46:40,320
Speaker 9: it's it's so fun.

875
00:46:40,520 --> 00:46:41,960
Speaker 4: Is it a combat sport?

876
00:46:43,160 --> 00:46:46,040
Speaker 8: No, it's full contact I mean it's full contact combat.

877
00:46:46,080 --> 00:46:48,759
Speaker 8: Oh yeah, it's not not combat. I mean you're basically

878
00:46:49,000 --> 00:46:52,759
Speaker 8: you're trying to tag, tag or b tag. You're tried

879
00:46:52,800 --> 00:46:56,400
Speaker 8: to tag or evade. And but also you can like

880
00:46:56,680 --> 00:46:58,319
Speaker 8: just get tackled and.

881
00:46:58,239 --> 00:47:03,000
Speaker 9: The second, you know, the raider crosses a certain line

882
00:47:03,120 --> 00:47:05,799
Speaker 9: or tag someone on the other team, that team can

883
00:47:06,080 --> 00:47:10,320
Speaker 9: just absolutely destroy them. You know they can. They tackle

884
00:47:10,320 --> 00:47:12,000
Speaker 9: you to the ground, they push you out of bounce,

885
00:47:12,160 --> 00:47:15,160
Speaker 9: they do you well, do anything for you to not

886
00:47:15,280 --> 00:47:16,760
Speaker 9: get back over the line.

887
00:47:16,840 --> 00:47:19,400
Speaker 4: The pictures, I have to say, were mesmerizing and I

888
00:47:19,480 --> 00:47:21,200
Speaker 4: just couldn't figure out what was going on some of

889
00:47:21,239 --> 00:47:22,560
Speaker 4: the times. And I think that's part of it too,

890
00:47:22,560 --> 00:47:25,560
Speaker 4: because you guys talk about in the video how the

891
00:47:25,640 --> 00:47:28,560
Speaker 4: sponsors of this league in India have changed the rules

892
00:47:28,560 --> 00:47:31,520
Speaker 4: a couple of times in order to attract a TV

893
00:47:31,640 --> 00:47:34,200
Speaker 4: audience to make it more broadcastable, right.

894
00:47:34,320 --> 00:47:36,600
Speaker 8: Yeah, I mean it's funny too. I mean there are

895
00:47:36,600 --> 00:47:41,080
Speaker 8: echoes definitely of the tag episode that we did earlier

896
00:47:41,080 --> 00:47:44,400
Speaker 8: in the season, in the sense that if you, you know,

897
00:47:44,760 --> 00:47:48,040
Speaker 8: grow up in the subcontinent, like you know this sport

898
00:47:48,120 --> 00:47:50,360
Speaker 8: because and especially if you grew up in sort of

899
00:47:50,400 --> 00:47:53,040
Speaker 8: rural areas you grew up playing it, everybody plays it.

900
00:47:53,080 --> 00:47:54,600
Speaker 8: I mean, it's just like you do it. In fact,

901
00:47:54,680 --> 00:47:56,560
Speaker 8: we went to a park and played with some kids,

902
00:47:57,080 --> 00:47:57,960
Speaker 8: which is a whole other.

903
00:47:57,840 --> 00:48:01,359
Speaker 9: Stories may be you right, well, I won.

904
00:48:03,280 --> 00:48:05,360
Speaker 4: There's a theme here every time you guys go on

905
00:48:05,440 --> 00:48:07,440
Speaker 4: to so Vanessa does really well.

906
00:48:07,360 --> 00:48:10,640
Speaker 1: At Scarlet Foo speaking with Next in Sports hosts Jason

907
00:48:10,719 --> 00:48:14,759
Speaker 1: Kelly and Vanessa Perdomo about their latest episode on Cabandi.

908
00:48:15,440 --> 00:48:18,400
Speaker 1: Check out that full conversation in the Bloomberg Business of

909
00:48:18,440 --> 00:48:22,400
Speaker 1: Sports podcast feed, and catch the show on YouTube or

910
00:48:22,440 --> 00:48:26,000
Speaker 1: at Bloomberg dot com. This is the Bloomberg Business of

911
00:48:26,080 --> 00:48:28,440
Speaker 1: Sports show. We are here each and every week at

912
00:48:28,440 --> 00:48:31,719
Speaker 1: the same time, plus online wherever you get your podcasts.

913
00:48:31,920 --> 00:48:35,200
Speaker 1: I'm Michael Lebar on Twitter at Big Bar Sports, and.

914
00:48:35,040 --> 00:48:37,520
Speaker 4: You can find me on Twitter at Scarlettfoo.

915
00:48:37,040 --> 00:48:38,960
Speaker 2: And I'm on Twitter at Deep sas Hour.

916
00:48:39,560 --> 00:48:42,279
Speaker 1: Thanks for joining us. Tune in again next week for

917
00:48:42,440 --> 00:48:44,880
Speaker 1: the latest on the stories moving big old money in

918
00:48:44,920 --> 00:48:47,480
Speaker 1: the world of sports. You're listening to Bloomberg Business of

919
00:48:47,520 --> 00:48:50,840
Speaker 1: Sports from Bloomberg Radio around the world.