1 00:00:03,120 --> 00:00:08,760 Speaker 1: Bloomberg Audio Studios, Podcasts, Radio News. 2 00:00:15,520 --> 00:00:16,840 Speaker 2: Hi everyone, welcome to the deal. 3 00:00:16,880 --> 00:00:20,480 Speaker 3: I'm your host, Jason Kelly, Longsun, my partner Alex Rodriguez. Alex, 4 00:00:20,520 --> 00:00:23,560 Speaker 3: We're going to talk to my friend Javier Gutierrez, who 5 00:00:23,600 --> 00:00:25,880 Speaker 3: I guarantee is going to be your friend after this. 6 00:00:25,920 --> 00:00:28,560 Speaker 3: You guys have a lot of overlap, like a lot 7 00:00:28,560 --> 00:00:30,960 Speaker 3: of business interest, a lot of ambition. We're going to 8 00:00:31,040 --> 00:00:34,720 Speaker 3: talk about a new study that he has about Latinos 9 00:00:34,720 --> 00:00:38,320 Speaker 3: and sports, a new firm that he's created. He's super accomplished. 10 00:00:38,560 --> 00:00:40,440 Speaker 3: I'm excited for you to get to know him a 11 00:00:40,520 --> 00:00:43,360 Speaker 3: little bit. And along those lines, I mean, it is 12 00:00:44,120 --> 00:00:47,720 Speaker 3: Hispanic Heritage Month. And so I do wonder like as 13 00:00:47,760 --> 00:00:53,240 Speaker 3: you reflect on your experience as a I mean, consider 14 00:00:53,240 --> 00:00:56,400 Speaker 3: yourself what a Dominican American like. I mean, what has 15 00:00:56,440 --> 00:00:59,680 Speaker 3: that experience been like for you? In the sports world. 16 00:00:59,600 --> 00:01:00,400 Speaker 1: It's been great. 17 00:01:00,440 --> 00:01:03,120 Speaker 4: I Mean I was always taught from early on that 18 00:01:03,360 --> 00:01:05,840 Speaker 4: if you can help us win, if you show up 19 00:01:05,880 --> 00:01:07,760 Speaker 4: on time, if you stay late, if you work hard, 20 00:01:07,800 --> 00:01:10,720 Speaker 4: if you're a good attitude, all is included. And I 21 00:01:10,800 --> 00:01:13,240 Speaker 4: just remember a two thousand and nine World championship team 22 00:01:13,280 --> 00:01:15,360 Speaker 4: with the New York Yankees I mean, we looked like 23 00:01:15,360 --> 00:01:18,520 Speaker 4: the United Nation. Our MVP was heade Ki Matsui from Japan, 24 00:01:19,040 --> 00:01:22,479 Speaker 4: our closer Marina Rever from Panama, one of our best players, 25 00:01:22,560 --> 00:01:27,320 Speaker 4: Jeter and Sabbathia, African Americans, Me and Cano and Melki Dominicans. 26 00:01:27,760 --> 00:01:31,040 Speaker 4: It was a complete melting pot and we all checked 27 00:01:31,040 --> 00:01:33,679 Speaker 4: the ego at the door and we won together. 28 00:01:33,959 --> 00:01:34,800 Speaker 1: It was really cool. 29 00:01:35,440 --> 00:01:37,160 Speaker 3: This is something we're going to talk about with Hoavier. 30 00:01:37,240 --> 00:01:41,160 Speaker 3: But like, I wonder, how much did you benefit from, 31 00:01:41,160 --> 00:01:43,640 Speaker 3: like growing up in Miami and you know, sort of 32 00:01:43,680 --> 00:01:47,840 Speaker 3: having that experience of this was normal course of business 33 00:01:47,840 --> 00:01:48,840 Speaker 3: in a lot of ways. 34 00:01:49,240 --> 00:01:50,320 Speaker 1: Yeah, it's a great point. 35 00:01:50,440 --> 00:01:54,880 Speaker 4: Look in Miami, it's a heavy Cuban community and Hispanic community, 36 00:01:55,160 --> 00:01:57,080 Speaker 4: and in many ways a lot of my white friends 37 00:01:57,240 --> 00:02:00,440 Speaker 4: they felt like the minority. So it was like us 38 00:02:00,440 --> 00:02:03,520 Speaker 4: against the world. And it was open doors everywhere you went. 39 00:02:03,680 --> 00:02:06,000 Speaker 4: You know, it's probably fifty to fifty English and Spanish, 40 00:02:06,360 --> 00:02:08,680 Speaker 4: so that I think was an advantage. I didn't get 41 00:02:08,680 --> 00:02:10,840 Speaker 4: to see any of the ugliness that sometimes is out 42 00:02:10,840 --> 00:02:13,640 Speaker 4: there in the world. Fortunate because I was protected by sports. 43 00:02:13,680 --> 00:02:16,160 Speaker 4: I was protected by the Boys and Girls Club, and 44 00:02:16,520 --> 00:02:18,960 Speaker 4: just fortunate to just have the opportunities, and I would 45 00:02:18,960 --> 00:02:20,959 Speaker 4: say mentors that I had to help me pull me along. 46 00:02:21,440 --> 00:02:24,720 Speaker 2: All right, speaking Boys and Girls Club, Serious. 47 00:02:24,200 --> 00:02:27,640 Speaker 3: Fomo, I've got going on, because by the time everyone 48 00:02:27,720 --> 00:02:31,600 Speaker 3: hears this, you will have been to the most baller event, 49 00:02:32,040 --> 00:02:33,640 Speaker 3: not just a baller of it, baller of it in 50 00:02:33,680 --> 00:02:37,280 Speaker 3: my hometown of Atlanta. You're killing me on this. Tell 51 00:02:37,360 --> 00:02:39,120 Speaker 3: us about what you will have done by the time, 52 00:02:39,160 --> 00:02:39,639 Speaker 3: folks who are. 53 00:02:39,600 --> 00:02:40,040 Speaker 1: Listening to this. 54 00:02:40,600 --> 00:02:45,400 Speaker 4: So one after this, you're mister Atlanta atl You and 55 00:02:45,440 --> 00:02:47,680 Speaker 4: Dominique Wilkins and Chipper Drones. 56 00:02:49,120 --> 00:02:51,119 Speaker 3: People talk about the three of us in the same 57 00:02:51,160 --> 00:02:52,160 Speaker 3: sentence all the time. 58 00:02:52,320 --> 00:02:54,920 Speaker 4: But this is one of my favorite meetings that I have, 59 00:02:55,000 --> 00:02:57,400 Speaker 4: and it happens every couple of years where the Boys 60 00:02:57,400 --> 00:03:00,680 Speaker 4: and Girls Club is this wonderful organization that millions of 61 00:03:00,720 --> 00:03:03,440 Speaker 4: kids have benefited from me being like right there front 62 00:03:03,440 --> 00:03:06,040 Speaker 4: and center. I'm proud to be basically the co chair 63 00:03:06,080 --> 00:03:08,280 Speaker 4: with Denzel Washes in this one. So I have to 64 00:03:08,320 --> 00:03:10,519 Speaker 4: give a little speech and talk a little bit about 65 00:03:10,560 --> 00:03:14,000 Speaker 4: my experiences. But simply said Jason, without the Boys and 66 00:03:14,040 --> 00:03:16,960 Speaker 4: Girls Club, I would not be here today. I specifically 67 00:03:17,000 --> 00:03:19,760 Speaker 4: remember when I was about twelve or thirteen years old, 68 00:03:19,880 --> 00:03:22,120 Speaker 4: that they came out with the three to five campaign, 69 00:03:22,600 --> 00:03:24,960 Speaker 4: and what that basically meant is that data told us 70 00:03:25,000 --> 00:03:27,440 Speaker 4: that most kids would get in trouble at that time 71 00:03:27,520 --> 00:03:29,480 Speaker 4: because I was the gap between school. 72 00:03:29,400 --> 00:03:30,480 Speaker 1: And when the parents got home. 73 00:03:30,520 --> 00:03:33,919 Speaker 4: A lot of them, like me, single parents, so that 74 00:03:34,000 --> 00:03:36,120 Speaker 4: window kept me away from trouble. I will go there 75 00:03:36,120 --> 00:03:38,600 Speaker 4: every day after school in Miami and I would do 76 00:03:38,640 --> 00:03:40,640 Speaker 4: my homework first and then we would play till like 77 00:03:40,800 --> 00:03:43,400 Speaker 4: midnight to whenever my mom can pick me up after work. 78 00:03:43,880 --> 00:03:46,040 Speaker 4: So I love the Boys and Girls Club. I love 79 00:03:46,080 --> 00:03:48,280 Speaker 4: to give back and for me, it's been a lifesaver, 80 00:03:48,440 --> 00:03:50,080 Speaker 4: and I speak for millions of kids out there that 81 00:03:50,120 --> 00:03:52,320 Speaker 4: are doing great things as adults now well. 82 00:03:52,360 --> 00:03:54,200 Speaker 3: And also, I mean you were telling me before we 83 00:03:54,360 --> 00:03:56,360 Speaker 3: got on the mics, like the people who are going 84 00:03:56,440 --> 00:03:58,800 Speaker 3: to be there, it's insane. I mean a lot of 85 00:03:58,840 --> 00:04:02,640 Speaker 3: people are like you in the sense that they owe 86 00:04:02,680 --> 00:04:04,160 Speaker 3: a lot to the Boys and Girls Club, and they 87 00:04:04,200 --> 00:04:05,200 Speaker 3: definitely show up for this. 88 00:04:05,800 --> 00:04:08,640 Speaker 4: It's one of the most impressive alums rosters you ever 89 00:04:08,640 --> 00:04:11,000 Speaker 4: want to see of any organization. I mean, from Denzel 90 00:04:11,040 --> 00:04:15,680 Speaker 4: Washington to Charles Barkley, Allen Iverson, Kerrie Washington, and many 91 00:04:15,720 --> 00:04:19,680 Speaker 4: many others from Hollywood to private equity, to the titans 92 00:04:19,720 --> 00:04:21,719 Speaker 4: of Wall Street and Main Street, and then of course 93 00:04:21,760 --> 00:04:24,039 Speaker 4: some of the greatest athletes you know, from Shack to 94 00:04:24,120 --> 00:04:24,920 Speaker 4: everyone in between. 95 00:04:25,400 --> 00:04:29,400 Speaker 3: Well, and also you know, convening in the atl which 96 00:04:29,480 --> 00:04:31,760 Speaker 3: I think is not an accident, you know, given the 97 00:04:31,839 --> 00:04:34,280 Speaker 3: high profile nature. I mean again flexing my hometown a 98 00:04:34,279 --> 00:04:36,880 Speaker 3: little bit, but like the high profile nature of that city. 99 00:04:37,000 --> 00:04:39,440 Speaker 3: How people you know, they want to be there, you know, 100 00:04:39,600 --> 00:04:41,080 Speaker 3: you and I talk about it all the time, and 101 00:04:41,560 --> 00:04:45,400 Speaker 3: with friends in sports and entertainment, just gravitating toward there 102 00:04:46,120 --> 00:04:48,760 Speaker 3: constantly in terms of the business opportunities. 103 00:04:48,760 --> 00:04:50,080 Speaker 2: So that's a cool room to be in. 104 00:04:50,160 --> 00:04:50,520 Speaker 5: All right. 105 00:04:50,800 --> 00:04:54,640 Speaker 3: Coming up is Xavier Gutierra, CEO of Impact ex Sports Group. 106 00:05:07,560 --> 00:05:09,320 Speaker 2: All right, welcome back to the deal. 107 00:05:09,640 --> 00:05:12,960 Speaker 3: Always a pleasure to have a good friend not just 108 00:05:13,279 --> 00:05:16,160 Speaker 3: on the show, but actually physically next to me. So 109 00:05:16,680 --> 00:05:19,679 Speaker 3: what we do is we have the guests introduce themselves, 110 00:05:19,760 --> 00:05:21,360 Speaker 3: so please tell us who you are, what you do. 111 00:05:21,600 --> 00:05:25,880 Speaker 6: Fantastic Jason, Alex, thanks for having me. Javier gutierres I 112 00:05:25,920 --> 00:05:29,359 Speaker 6: am the chairman and CEO of Impact X Sports, which 113 00:05:29,400 --> 00:05:32,880 Speaker 6: is a new private investment and advisory firm in the 114 00:05:32,880 --> 00:05:37,560 Speaker 6: global sports industry. I was previously the president, CEO and 115 00:05:37,680 --> 00:05:41,600 Speaker 6: alternate governor of the Arizona Coyotes, as the first Latino 116 00:05:41,680 --> 00:05:44,200 Speaker 6: CEO in the history of the NHL. I have a 117 00:05:44,240 --> 00:05:46,960 Speaker 6: thirty year career and private equity and I'm sure we'll 118 00:05:46,960 --> 00:05:50,320 Speaker 6: get into that. So one of the few former private 119 00:05:50,320 --> 00:05:53,640 Speaker 6: equity in real estate executives to ever have run a 120 00:05:53,760 --> 00:05:55,080 Speaker 6: major professional sports team. 121 00:05:55,440 --> 00:05:58,520 Speaker 3: Yeah, I mean, Alex, this was one where I texted 122 00:05:58,560 --> 00:06:00,240 Speaker 3: you and I was like, I think we can get 123 00:06:00,240 --> 00:06:01,680 Speaker 3: this guy for the show, and you are like, say 124 00:06:01,760 --> 00:06:04,960 Speaker 3: less done. I mean, and you know so many reasons 125 00:06:05,000 --> 00:06:07,200 Speaker 3: talk to you. Javier. You and I are good friends. 126 00:06:07,240 --> 00:06:09,760 Speaker 3: We've known each other for a while. You know that 127 00:06:09,800 --> 00:06:12,760 Speaker 3: the timing is interesting because it is Hispanic Heritage Month. 128 00:06:12,960 --> 00:06:17,719 Speaker 3: You just oversaw this really cool report about Latinos and sports. 129 00:06:17,720 --> 00:06:19,760 Speaker 3: We're going to talk a little bit about that because 130 00:06:19,800 --> 00:06:22,360 Speaker 3: you have, you know, such a deep experience, Javier, and 131 00:06:22,720 --> 00:06:25,359 Speaker 3: a lot of you know, just a lot of insights 132 00:06:25,839 --> 00:06:28,000 Speaker 3: on the sort of Latinos and sports of it all. 133 00:06:28,640 --> 00:06:30,720 Speaker 2: I would love to ask both of you what was 134 00:06:30,720 --> 00:06:31,800 Speaker 2: that experience. 135 00:06:31,440 --> 00:06:31,719 Speaker 5: Like for you? 136 00:06:31,760 --> 00:06:34,120 Speaker 3: I mean, your family moved, you know, from Mexico to 137 00:06:34,160 --> 00:06:38,080 Speaker 3: northern California when you were very little. In short, what's 138 00:06:38,120 --> 00:06:41,800 Speaker 3: the path for you into this world of private equity 139 00:06:41,839 --> 00:06:42,440 Speaker 3: in sports. 140 00:06:42,720 --> 00:06:44,440 Speaker 6: Well, you know, I feel very blessed, and you've heard 141 00:06:44,480 --> 00:06:46,080 Speaker 6: me say that on a number of occasions. I am 142 00:06:46,120 --> 00:06:48,640 Speaker 6: an immigrant to this country. I came from Walder La Jara, 143 00:06:48,640 --> 00:06:51,640 Speaker 6: Mexico when I was five, and really through the vision 144 00:06:51,680 --> 00:06:55,440 Speaker 6: of my mom, who was really the one who wanted 145 00:06:55,480 --> 00:06:58,320 Speaker 6: to have her children have a better education. And it 146 00:06:58,400 --> 00:07:01,320 Speaker 6: really is a number of those of inflection points that 147 00:07:01,440 --> 00:07:03,799 Speaker 6: gets you to a place like this. I'm sure Alex 148 00:07:03,880 --> 00:07:07,279 Speaker 6: can also relate to that. There are door openers in 149 00:07:07,279 --> 00:07:09,720 Speaker 6: your life, and it started with my mother opening this 150 00:07:09,840 --> 00:07:12,120 Speaker 6: door into this country, saying this is where you're going 151 00:07:12,160 --> 00:07:13,600 Speaker 6: to have a better life. This is where you're going 152 00:07:13,640 --> 00:07:17,320 Speaker 6: to have a better path to whatever success you want 153 00:07:17,360 --> 00:07:20,840 Speaker 6: to achieve. As you know, I've had great fortune to 154 00:07:21,000 --> 00:07:25,760 Speaker 6: go to great schools and that's where the door openers continue. 155 00:07:26,280 --> 00:07:28,440 Speaker 6: And I think i've shared this story that you know 156 00:07:28,520 --> 00:07:32,440 Speaker 6: I interned when I was at Harvard undergrad with the 157 00:07:32,440 --> 00:07:34,600 Speaker 6: youngest mayor in the US because I thought I wanted 158 00:07:34,600 --> 00:07:35,520 Speaker 6: to be an elected official. 159 00:07:35,560 --> 00:07:36,880 Speaker 5: I thought that's going to be the path. 160 00:07:37,400 --> 00:07:39,200 Speaker 6: After I did this internship where I brought in and 161 00:07:39,200 --> 00:07:42,240 Speaker 6: out Burgers as headquarters back to Baldwin Park, California. 162 00:07:42,320 --> 00:07:43,480 Speaker 2: By the way, who was the mayor. 163 00:07:43,600 --> 00:07:46,840 Speaker 6: It was Fidel Vargas, who now runs the Hispanic Scholarship Fund. 164 00:07:46,880 --> 00:07:49,280 Speaker 5: Okay, actually he was the one who. 165 00:07:49,120 --> 00:07:51,760 Speaker 6: Said, no, you need to go to Wall Street. You 166 00:07:51,800 --> 00:07:54,560 Speaker 6: need to learn about capital. You need to bring investment 167 00:07:54,640 --> 00:07:57,800 Speaker 6: back into the communities in which we all grew up 168 00:07:57,880 --> 00:08:01,680 Speaker 6: because of the importance of capital and investment in business 169 00:08:02,120 --> 00:08:05,120 Speaker 6: to our communities. I knew nothing about socks. I knew 170 00:08:05,160 --> 00:08:07,400 Speaker 6: nothing about bombs. That wasn't a conversation we had at 171 00:08:07,440 --> 00:08:10,080 Speaker 6: our kitchen table. It was exactly where I should be. 172 00:08:10,160 --> 00:08:12,400 Speaker 6: I love deal making. I've had a long career in 173 00:08:12,640 --> 00:08:16,600 Speaker 6: real estate, private equity, and corporate private equity banking. As 174 00:08:16,640 --> 00:08:20,240 Speaker 6: you know, I owned the largest Latino bank in California 175 00:08:20,280 --> 00:08:21,000 Speaker 6: for a long time. 176 00:08:21,360 --> 00:08:24,160 Speaker 5: So this was a world that I truly embraced. 177 00:08:24,440 --> 00:08:26,880 Speaker 6: But through it all was this, you know, through line 178 00:08:26,920 --> 00:08:29,040 Speaker 6: of how do I use my platform and my voice 179 00:08:29,320 --> 00:08:33,280 Speaker 6: to do for others, to really embrace that opportunity to 180 00:08:33,360 --> 00:08:35,280 Speaker 6: make a difference, to make an impact. 181 00:08:35,720 --> 00:08:37,040 Speaker 5: And one of those impacts that. 182 00:08:37,040 --> 00:08:39,480 Speaker 6: I wanted to do was obviously using this powerful voice 183 00:08:39,720 --> 00:08:42,160 Speaker 6: of sports, right right, And we've talked about that, so 184 00:08:42,480 --> 00:08:45,000 Speaker 6: I know Alex has an incredible personal history as well. 185 00:08:45,040 --> 00:08:47,640 Speaker 6: I've followed it for many years and it's very similar, 186 00:08:47,640 --> 00:08:51,040 Speaker 6: you know, using our voices to really make a difference 187 00:08:51,080 --> 00:08:51,920 Speaker 6: in so many settings. 188 00:08:52,000 --> 00:08:55,320 Speaker 3: And also, Alex, you know a mom opening the door, right, 189 00:08:55,440 --> 00:08:57,480 Speaker 3: I mean that clearly was the same case for you. 190 00:08:57,640 --> 00:08:59,080 Speaker 1: Yeah, yeah, Jason. 191 00:08:59,200 --> 00:09:02,200 Speaker 4: As I hear Havier, I'm getting goosebumps because it's such 192 00:09:02,240 --> 00:09:06,360 Speaker 4: a beautiful story and such a role model for millions 193 00:09:06,400 --> 00:09:10,080 Speaker 4: and millions of Latinos, both men and women. But for me, 194 00:09:10,960 --> 00:09:12,760 Speaker 4: this is what makes this country the greatest country in 195 00:09:12,800 --> 00:09:15,559 Speaker 4: the world is we're very similar, but yet we had 196 00:09:15,600 --> 00:09:17,680 Speaker 4: different paths to how we got here. I did not 197 00:09:17,760 --> 00:09:20,200 Speaker 4: go to Harvard or Stanford law. I kind of went 198 00:09:20,240 --> 00:09:22,160 Speaker 4: through the school of hard knocks. But I've had incredible 199 00:09:22,240 --> 00:09:26,400 Speaker 4: mentors from George Steinbernner to Robert Kraft, Jerry Jones, Jerry Reinsdorf, 200 00:09:26,720 --> 00:09:27,240 Speaker 4: and I've. 201 00:09:27,120 --> 00:09:29,200 Speaker 1: Been really blessed that they've mentored me. 202 00:09:29,600 --> 00:09:31,160 Speaker 4: And now I think Javier and I sit in a 203 00:09:31,200 --> 00:09:34,360 Speaker 4: position where's our job and responsibility not just to go 204 00:09:34,360 --> 00:09:37,560 Speaker 4: into boardroom, but to leave that boardroom open for others 205 00:09:37,600 --> 00:09:38,679 Speaker 4: to come in behind. 206 00:09:38,440 --> 00:09:40,880 Speaker 2: Us, and so Javier like, talk to us. 207 00:09:41,000 --> 00:09:43,439 Speaker 3: I mean, let's get into those some of those boardrooms, 208 00:09:43,440 --> 00:09:46,680 Speaker 3: because you know, you have a career in private equity 209 00:09:46,720 --> 00:09:49,400 Speaker 3: and banking, but you know, let's talk about your sports career. 210 00:09:49,440 --> 00:09:52,080 Speaker 2: Because you work at the NFL as a as a 211 00:09:52,120 --> 00:09:53,679 Speaker 2: younger man. You're still a young man. 212 00:09:54,080 --> 00:09:55,920 Speaker 3: I say that very conscious to word of the exact 213 00:09:55,960 --> 00:09:59,120 Speaker 3: same age and just slightly older than Alex. But you know, 214 00:09:59,200 --> 00:10:01,319 Speaker 3: you work in the NFL, but then you go into 215 00:10:01,480 --> 00:10:04,440 Speaker 3: private equity world, you come back into sports world in 216 00:10:04,480 --> 00:10:07,000 Speaker 3: a very meaningful way as the CEO of the Coyotes. 217 00:10:07,440 --> 00:10:10,439 Speaker 3: There's a whole story that's that's a separate story, is 218 00:10:10,440 --> 00:10:13,400 Speaker 3: a separate story. But like, what's the takeaway? I mean, 219 00:10:13,720 --> 00:10:17,200 Speaker 3: what's the thing that you take from that? Candidly, I 220 00:10:17,200 --> 00:10:20,320 Speaker 3: mean turbulent experience of you know, being with the team. 221 00:10:20,559 --> 00:10:21,560 Speaker 2: The franchise now. 222 00:10:21,440 --> 00:10:25,960 Speaker 3: Resides in Utah, but clearly that puts you on a 223 00:10:26,120 --> 00:10:28,440 Speaker 3: very distinct path to where you are. Now, what are 224 00:10:28,440 --> 00:10:31,200 Speaker 3: the one or two things that you're like, Okay, this 225 00:10:31,280 --> 00:10:32,120 Speaker 3: is what I take from this? 226 00:10:32,360 --> 00:10:36,000 Speaker 6: Sure, well, definitely a lot of lessons from the Coyotes experience, 227 00:10:36,480 --> 00:10:38,079 Speaker 6: and I'll share a couple of things. I think those 228 00:10:38,080 --> 00:10:39,880 Speaker 6: players are going to do incredibly well. I think Utah 229 00:10:39,960 --> 00:10:42,400 Speaker 6: is going to be an incredible market. The takeaway I 230 00:10:42,400 --> 00:10:44,760 Speaker 6: have is first and foremost that sports is a very 231 00:10:44,800 --> 00:10:48,640 Speaker 6: serious business. It's a very institutional business. And I saw 232 00:10:48,679 --> 00:10:51,200 Speaker 6: it actually come in the course of me sitting in 233 00:10:51,240 --> 00:10:54,840 Speaker 6: this chair. You saw the private equity funds being allowed 234 00:10:54,880 --> 00:10:58,080 Speaker 6: for the first time to actually be in the sports formally, right. 235 00:10:58,120 --> 00:11:00,400 Speaker 5: So clearly this is an. 236 00:11:00,240 --> 00:11:06,319 Speaker 6: Institutional asset class and it has incredible growth, incredible opportunity 237 00:11:06,520 --> 00:11:11,040 Speaker 6: to continue to professionalize, to continue to be an institutional 238 00:11:11,200 --> 00:11:13,839 Speaker 6: not just with the teams, but something that I'm very 239 00:11:13,840 --> 00:11:19,240 Speaker 6: interested with the enterprises, all the affiliated businesses that have 240 00:11:19,720 --> 00:11:24,040 Speaker 6: incredible opportunity for not only outsized financial returns, but capital deployment. 241 00:11:24,120 --> 00:11:26,960 Speaker 6: So the first lesson was it is an incredible serious 242 00:11:26,960 --> 00:11:29,959 Speaker 6: business and it honestly is just getting started as big 243 00:11:30,000 --> 00:11:31,920 Speaker 6: as these valuations of what have you. 244 00:11:32,000 --> 00:11:33,800 Speaker 5: I steal see it as. 245 00:11:33,760 --> 00:11:37,760 Speaker 6: Because of the second thing, which is it is truly 246 00:11:38,320 --> 00:11:41,440 Speaker 6: an impact enterprise when you think about the impact of 247 00:11:41,480 --> 00:11:45,000 Speaker 6: it on commerce, on culture, on community. I took over 248 00:11:45,040 --> 00:11:48,000 Speaker 6: in the middle of COVID. I saw what happens when 249 00:11:48,000 --> 00:11:50,800 Speaker 6: you don't have sports in terms of the driver of 250 00:11:50,840 --> 00:11:54,400 Speaker 6: economic activity that no longer occurred. You also saw the 251 00:11:54,440 --> 00:11:57,360 Speaker 6: impact it had on culture, Alex, you would know this. 252 00:11:57,720 --> 00:12:02,800 Speaker 6: When did most people actually realize that COVID was this thing? 253 00:12:03,559 --> 00:12:07,439 Speaker 6: Is when sports stopped. Even the casual person was like, wait, 254 00:12:07,600 --> 00:12:11,240 Speaker 6: there's no sports, there's no sports center, there's no NBA, NHL, 255 00:12:11,440 --> 00:12:14,400 Speaker 6: Like what is going on? And I think it just 256 00:12:14,600 --> 00:12:18,000 Speaker 6: again showed you the cultural influence, but then also the 257 00:12:18,040 --> 00:12:21,599 Speaker 6: impact it had in bringing the community together. One of 258 00:12:21,640 --> 00:12:23,880 Speaker 6: the takers I had is I really felt that we 259 00:12:24,000 --> 00:12:27,480 Speaker 6: accomplished that in terms of embracing the Coyotes as a 260 00:12:27,480 --> 00:12:31,800 Speaker 6: community asset. Our arena. It was a testing site, it 261 00:12:31,840 --> 00:12:35,240 Speaker 6: was a vaccination site, it was a voting booth. We 262 00:12:35,280 --> 00:12:38,480 Speaker 6: did a blood drive, a food drive, a clothing drive. 263 00:12:38,920 --> 00:12:42,720 Speaker 6: We did everything to say we are here for you 264 00:12:42,800 --> 00:12:45,880 Speaker 6: as a community. And we were the first to bring 265 00:12:45,920 --> 00:12:49,560 Speaker 6: people back into an indoor arena using clear we had 266 00:12:49,679 --> 00:12:54,160 Speaker 6: you know, social distancing. So it's a serious business. It 267 00:12:54,240 --> 00:12:57,280 Speaker 6: is an impact enterprise and that's why you know, people 268 00:12:57,280 --> 00:12:58,960 Speaker 6: have asked me, am I going to go back into 269 00:12:58,960 --> 00:13:01,880 Speaker 6: private equity? I said, yeah, through sports, I want to 270 00:13:01,920 --> 00:13:06,040 Speaker 6: continue the opportunities that you're seeing, not just with teams, 271 00:13:06,360 --> 00:13:07,880 Speaker 6: but also with these enterprises. 272 00:13:08,280 --> 00:13:12,040 Speaker 4: I'm really really interested in what's next for Javier, what's 273 00:13:12,080 --> 00:13:13,720 Speaker 4: this private equity around sports? 274 00:13:13,760 --> 00:13:16,160 Speaker 1: And I do agree that there's so many businesses. 275 00:13:16,240 --> 00:13:18,800 Speaker 4: I call it an octopus of opportunities around the moat 276 00:13:18,960 --> 00:13:22,199 Speaker 4: of sport, where twenty thirty years ago that's all people 277 00:13:22,240 --> 00:13:25,079 Speaker 4: looked at. But today it is a holding company and 278 00:13:25,120 --> 00:13:27,480 Speaker 4: there's all types of different silos. Where as an investor, 279 00:13:27,480 --> 00:13:30,360 Speaker 4: you can deploy capital if you have some patience and 280 00:13:30,400 --> 00:13:33,280 Speaker 4: you have ten fifteen years, you could be surprised of 281 00:13:33,440 --> 00:13:37,600 Speaker 4: the type of returns and is not correlated to the markets, 282 00:13:37,720 --> 00:13:40,719 Speaker 4: which is another part that you know, great investors like. 283 00:13:40,880 --> 00:13:43,520 Speaker 6: Sure, well, you know, I sort of tried to take 284 00:13:43,520 --> 00:13:45,760 Speaker 6: the summer off. It's a little warm in Arizona during 285 00:13:45,800 --> 00:13:48,240 Speaker 6: the summer, so you try to kind of get out 286 00:13:48,280 --> 00:13:51,480 Speaker 6: of the of the desert and spend time with my wife, Jerika, 287 00:13:51,600 --> 00:13:54,319 Speaker 6: my son Hobby, who's a junior in high school and 288 00:13:54,360 --> 00:13:57,360 Speaker 6: did summer schools, and your alma mater there at Georgetown, 289 00:13:57,400 --> 00:14:00,320 Speaker 6: and amongst other things. And really what it started happening 290 00:14:00,440 --> 00:14:03,120 Speaker 6: was these institutional investors started giving me a call and 291 00:14:03,200 --> 00:14:05,160 Speaker 6: saying what would you like to do? We want to 292 00:14:05,200 --> 00:14:07,280 Speaker 6: deploy capital, what's your interest? 293 00:14:07,360 --> 00:14:10,520 Speaker 3: And that's new, yeah, not tender, that's new. Yes, right, 294 00:14:10,640 --> 00:14:13,400 Speaker 3: I mean you've seen and Alex you've seen it as well. 295 00:14:13,480 --> 00:14:16,400 Speaker 3: Like that is not the story of even five years ago. 296 00:14:16,440 --> 00:14:17,520 Speaker 3: I don't think was it. 297 00:14:17,640 --> 00:14:18,080 Speaker 5: No, it's not. 298 00:14:18,200 --> 00:14:20,920 Speaker 6: That's why I'm saying. I sat in this chair. All 299 00:14:20,960 --> 00:14:24,440 Speaker 6: of a sudden, you know, these conversations started to come 300 00:14:24,480 --> 00:14:26,520 Speaker 6: to me. And you know this as I'm one of 301 00:14:26,560 --> 00:14:30,000 Speaker 6: the few private equity real estate guys who also ran 302 00:14:30,040 --> 00:14:32,440 Speaker 6: a team. Right, there's plenty that have owned a team, 303 00:14:32,440 --> 00:14:34,640 Speaker 6: but who's rant team? So I understand sort of the 304 00:14:34,680 --> 00:14:37,440 Speaker 6: ebb and flow and the operational and by the way, 305 00:14:37,560 --> 00:14:41,080 Speaker 6: the opportunities, Yeah, that exists. And so they started, you know, 306 00:14:41,200 --> 00:14:44,440 Speaker 6: kind of reaching out. And what I thought about was, listen, 307 00:14:44,520 --> 00:14:46,760 Speaker 6: I'd like to partner with you. I'd like to take 308 00:14:46,800 --> 00:14:49,000 Speaker 6: your capital, but I want to do it in a 309 00:14:49,080 --> 00:14:51,120 Speaker 6: very different way. I don't want to just be an investor. 310 00:14:51,160 --> 00:14:53,800 Speaker 6: I want to be a partner and a solutions provider 311 00:14:54,160 --> 00:14:56,920 Speaker 6: to these leagues and to these teams and to say, 312 00:14:57,360 --> 00:15:00,840 Speaker 6: where are the opportunities, where are the growth ventures that 313 00:15:01,080 --> 00:15:05,480 Speaker 6: you honestly probably don't want to deploy capital or also 314 00:15:05,680 --> 00:15:10,080 Speaker 6: don't have the operational execution. I had someone from actually 315 00:15:10,080 --> 00:15:11,920 Speaker 6: the NHL League office come to me says, you know, 316 00:15:12,120 --> 00:15:14,160 Speaker 6: part of the challenge with you private equity guys, as 317 00:15:14,160 --> 00:15:16,640 Speaker 6: you come in, you have great ideas, some of them 318 00:15:16,640 --> 00:15:18,960 Speaker 6: we can do. We don't have the rights, but great ideas. 319 00:15:19,080 --> 00:15:21,600 Speaker 6: You drop a check and then you leave and we'll say, great, 320 00:15:21,600 --> 00:15:23,680 Speaker 6: who's going to do any of that? Because we're trying 321 00:15:23,680 --> 00:15:25,680 Speaker 6: to just keep the train on the tracks. And it's 322 00:15:25,720 --> 00:15:28,280 Speaker 6: true in my role, ninety percent of my time was 323 00:15:28,520 --> 00:15:30,600 Speaker 6: keep the train on the tracks. And yet there's all 324 00:15:30,600 --> 00:15:34,360 Speaker 6: these strategic opportunities and so sort of the value creation 325 00:15:34,520 --> 00:15:38,000 Speaker 6: strategy that I'm trying to execute potentially in these partnerships 326 00:15:38,400 --> 00:15:40,640 Speaker 6: with both the capital guys as well as with the 327 00:15:40,680 --> 00:15:43,680 Speaker 6: teams in the leagues is to say, let's optimize real estate. 328 00:15:44,200 --> 00:15:47,920 Speaker 6: I think every sports facility should be an anchor to 329 00:15:47,960 --> 00:15:51,440 Speaker 6: a health and wellness center, a performance center, entertainment district, 330 00:15:51,480 --> 00:15:54,440 Speaker 6: all of them. Your main facility, your practice, your training, 331 00:15:54,680 --> 00:15:57,240 Speaker 6: even your international facility. So that's number one. Number two 332 00:15:57,800 --> 00:16:03,280 Speaker 6: market expansion. You should have a footprint internationally. But differently, 333 00:16:03,360 --> 00:16:07,160 Speaker 6: I often criticize that it's the circus strategy. Go pitch 334 00:16:07,200 --> 00:16:10,080 Speaker 6: a tent, bring the circus into town. Circus does great, 335 00:16:10,600 --> 00:16:12,840 Speaker 6: Then the circus leaves and you take the tent. There 336 00:16:12,840 --> 00:16:15,600 Speaker 6: needs to be an ongoing presence that you can do 337 00:16:15,640 --> 00:16:20,440 Speaker 6: fan development, business development. You're talking overseas, but also, you know, 338 00:16:20,840 --> 00:16:23,600 Speaker 6: I think there needs to be vertical ownership. I think 339 00:16:23,720 --> 00:16:26,800 Speaker 6: teams shouldn't be thinking about their minor leagues, their youth leagues, 340 00:16:26,840 --> 00:16:30,840 Speaker 6: their female counterparts, really rolling it up because I also 341 00:16:30,880 --> 00:16:34,040 Speaker 6: believe in this as the most valuable intellectual property that 342 00:16:34,120 --> 00:16:37,600 Speaker 6: needs to be monetized. And then finally, Alex Jason has 343 00:16:37,640 --> 00:16:40,400 Speaker 6: heard this almost ted talk that I have of super 344 00:16:40,440 --> 00:16:44,240 Speaker 6: serving the fan but equally focused on the fan in waiting. 345 00:16:44,640 --> 00:16:46,280 Speaker 6: You know, I have this chart where I showed the 346 00:16:46,320 --> 00:16:49,360 Speaker 6: three point six million people in Arizona in the DMA, 347 00:16:50,000 --> 00:16:52,320 Speaker 6: and you know, right at the core was the forty 348 00:16:52,360 --> 00:16:55,400 Speaker 6: thousand or so people who came to a game historically. 349 00:16:55,720 --> 00:16:58,280 Speaker 6: Then there's another half a million that followed us and 350 00:16:58,680 --> 00:17:01,240 Speaker 6: bought a T shirt or what have you. But it's 351 00:17:01,280 --> 00:17:02,960 Speaker 6: three point six million people. So what am I going 352 00:17:03,000 --> 00:17:04,440 Speaker 6: to do with three point one million people? 353 00:17:04,440 --> 00:17:06,440 Speaker 5: How do I touch them? Yes? 354 00:17:06,840 --> 00:17:09,240 Speaker 6: You need to compete, you need to be compelling, you 355 00:17:09,320 --> 00:17:12,720 Speaker 6: need to be accessible, but you also need to go 356 00:17:12,880 --> 00:17:17,160 Speaker 6: to the fin and waiting through merchandise and fashion, through content, 357 00:17:17,560 --> 00:17:21,640 Speaker 6: through experiences and entertainment. That's the conversation I'm having when 358 00:17:21,680 --> 00:17:24,280 Speaker 6: we're thinking about these enterprises is how do you create 359 00:17:24,320 --> 00:17:28,240 Speaker 6: this value off of this core asset of the team. 360 00:17:28,720 --> 00:17:34,240 Speaker 6: Now there's the enterprises, and quite frankly, that's the pe model, right. 361 00:17:34,280 --> 00:17:36,399 Speaker 6: You buy the core asset and you look at everything 362 00:17:36,440 --> 00:17:36,920 Speaker 6: around it. 363 00:17:37,040 --> 00:17:38,280 Speaker 1: I love where you're going with this. 364 00:17:38,600 --> 00:17:42,280 Speaker 4: The question then becomes how big from a scale point 365 00:17:42,280 --> 00:17:44,720 Speaker 4: of view does your first fund have to be? 366 00:17:44,720 --> 00:17:47,439 Speaker 1: Because it's a you have to write meaningful checks. 367 00:17:47,640 --> 00:17:50,719 Speaker 4: You know, probably nine figures at some point, yes, maybe smaller, 368 00:17:50,720 --> 00:17:53,000 Speaker 4: maybe bigger. And then you have to have the duration 369 00:17:53,280 --> 00:17:56,440 Speaker 4: to be a strategic partners to folks like us. That 370 00:17:56,960 --> 00:17:58,440 Speaker 4: one of the things that private equity do. One of 371 00:17:58,480 --> 00:18:00,359 Speaker 4: the big knocks is well, you guys are end but 372 00:18:00,400 --> 00:18:03,040 Speaker 4: you're out in seven years, right, the duration of a fund. 373 00:18:03,440 --> 00:18:05,680 Speaker 1: Talk to me a little bit about scale and duration. 374 00:18:05,880 --> 00:18:08,879 Speaker 6: Sure, both very good questions, And I'll twist it a 375 00:18:08,880 --> 00:18:11,080 Speaker 6: little bit in that my vision isn't really a fun 376 00:18:11,240 --> 00:18:14,680 Speaker 6: it's an operating company. It's to actually bring the capital 377 00:18:15,040 --> 00:18:19,640 Speaker 6: from these institutional investors and say I want to invest 378 00:18:19,880 --> 00:18:22,359 Speaker 6: and run these things. I want to create a portfolio 379 00:18:22,960 --> 00:18:26,320 Speaker 6: of control positions in the non teams. And that's what's 380 00:18:26,320 --> 00:18:28,399 Speaker 6: the key. Because people say, well, you want to own 381 00:18:28,440 --> 00:18:30,440 Speaker 6: five percent of a team. I go, no, I think 382 00:18:30,440 --> 00:18:33,600 Speaker 6: that's listen that to fine business. I know plenty of 383 00:18:33,600 --> 00:18:36,879 Speaker 6: people who are doing that. I'm interested in the enterprises 384 00:18:36,920 --> 00:18:40,119 Speaker 6: which can be longer term holds. And when you have 385 00:18:40,200 --> 00:18:44,320 Speaker 6: that conversation, Alex, then the duration starts being more interesting 386 00:18:44,400 --> 00:18:47,440 Speaker 6: because you can do a lot more with an operating 387 00:18:47,480 --> 00:18:51,679 Speaker 6: company in terms of your exits, your buy and build, 388 00:18:51,920 --> 00:18:56,360 Speaker 6: your M and A. The opportunity set increases rather than 389 00:18:56,480 --> 00:18:58,959 Speaker 6: just here's my investment. How quickly can I get it 390 00:18:59,000 --> 00:19:02,400 Speaker 6: back at my you know multiples that I'm looking for. 391 00:19:02,840 --> 00:19:06,920 Speaker 6: And so that conversation has resonated with the capital folks, right, 392 00:19:07,359 --> 00:19:09,440 Speaker 6: and it's also quite frankly resonated with the teams and 393 00:19:09,480 --> 00:19:11,679 Speaker 6: the leagues who are wondering, are you going to be 394 00:19:11,920 --> 00:19:15,359 Speaker 6: gone too quickly? Or how are you going to exit? 395 00:19:15,400 --> 00:19:17,240 Speaker 6: I mean, I think there's a lot of questions about that. 396 00:19:17,680 --> 00:19:20,200 Speaker 6: Even though I do believe in the continuation fund model 397 00:19:20,400 --> 00:19:22,760 Speaker 6: and other things that I think will mitigate that risk. 398 00:19:23,320 --> 00:19:24,760 Speaker 4: What I like about what you're saying is when you 399 00:19:24,800 --> 00:19:28,280 Speaker 4: go outside of the team co there's less restrictions. Therefore, 400 00:19:28,320 --> 00:19:30,919 Speaker 4: you have a lot more flexibility with your capital on 401 00:19:30,960 --> 00:19:33,760 Speaker 4: when to exit, what to do, be more strategic without 402 00:19:33,800 --> 00:19:37,200 Speaker 4: the leagues, who you know, have a big hand and 403 00:19:37,280 --> 00:19:39,360 Speaker 4: big voice and everything that the thirty or thirty two 404 00:19:39,400 --> 00:19:42,440 Speaker 4: teams you know, do. Outside of that, you have a 405 00:19:42,480 --> 00:19:45,240 Speaker 4: lot more flexibility, which I think plays into your thesis. 406 00:19:45,240 --> 00:19:46,679 Speaker 5: Sure you know one of the things. 407 00:19:46,880 --> 00:19:49,160 Speaker 6: And Jason left the first time I told him, I said, someone, 408 00:19:49,560 --> 00:19:51,800 Speaker 6: now you know quite well, ask me what do you 409 00:19:51,800 --> 00:19:53,879 Speaker 6: think about sports? I say, well, I think one of 410 00:19:53,880 --> 00:19:56,639 Speaker 6: the problems with sports is people focus too much on 411 00:19:56,680 --> 00:19:59,240 Speaker 6: the sports. Yeah, and don't get me wrong, I love 412 00:19:59,280 --> 00:20:01,639 Speaker 6: sports right and we love it and creates the passion 413 00:20:01,680 --> 00:20:05,600 Speaker 6: and creates the brand. But as a business, that's just 414 00:20:05,680 --> 00:20:09,200 Speaker 6: the core asset. Then there's everything else, and that's where 415 00:20:09,200 --> 00:20:12,280 Speaker 6: the opportunities, in my opinion, lie. 416 00:20:12,440 --> 00:20:13,560 Speaker 5: That are right there. 417 00:20:13,600 --> 00:20:16,919 Speaker 6: They're in waiting, and I do believe institutional capital is 418 00:20:16,960 --> 00:20:21,400 Speaker 6: the way to go, but also capital and execution, investor 419 00:20:21,560 --> 00:20:26,400 Speaker 6: and operator because quite frankly, you have the teams focused 420 00:20:26,400 --> 00:20:28,520 Speaker 6: on the teams. Yeah, and there's nothing wrong with that. 421 00:20:28,640 --> 00:20:31,600 Speaker 6: But now I think there's plenty of opportunity. And that's 422 00:20:31,840 --> 00:20:35,240 Speaker 6: as I've had these conversations. There's almost this like, yes, 423 00:20:35,760 --> 00:20:39,119 Speaker 6: you're right, then I go, great, let's pursue it. 424 00:20:50,680 --> 00:20:52,960 Speaker 3: All right, let's talk about Latinos and sports again. You 425 00:20:53,040 --> 00:20:54,720 Speaker 3: and I have been talking about this for a number 426 00:20:54,720 --> 00:20:59,480 Speaker 3: of years. Javier, tell us about the genesis of this project. 427 00:20:59,720 --> 00:21:01,760 Speaker 3: This is the Latinos in Sports study that you did 428 00:21:01,880 --> 00:21:05,480 Speaker 3: in partnership with Nielsen, and I'd love to talk through 429 00:21:05,520 --> 00:21:09,000 Speaker 3: some of the findings because you go through this report 430 00:21:09,119 --> 00:21:12,800 Speaker 3: and there are just some eye popping and candidly, I 431 00:21:12,800 --> 00:21:17,920 Speaker 3: think shocking statistics in terms of not just how distinct 432 00:21:18,240 --> 00:21:23,880 Speaker 3: this market is as consumers, but where you know, where 433 00:21:23,880 --> 00:21:25,800 Speaker 3: the eyeballs are, where the money's going. 434 00:21:25,880 --> 00:21:27,280 Speaker 2: So how did this all come about? 435 00:21:27,400 --> 00:21:27,680 Speaker 5: Sure? 436 00:21:27,680 --> 00:21:30,800 Speaker 6: Well, you know, when I took over, I was very 437 00:21:30,840 --> 00:21:32,880 Speaker 6: proud of the fact that I was the first Latino 438 00:21:33,240 --> 00:21:34,600 Speaker 6: CEO in the history of the NHL. 439 00:21:34,960 --> 00:21:35,480 Speaker 2: Took over the. 440 00:21:37,359 --> 00:21:40,280 Speaker 5: Job of the Coyotes. You know, there are one. 441 00:21:40,240 --> 00:21:43,480 Speaker 6: Hundred and fifty three teams men's teams in the top 442 00:21:43,560 --> 00:21:46,719 Speaker 6: five leagues. I was the only Latino CEO of one 443 00:21:46,800 --> 00:21:49,320 Speaker 6: hundred and fifty three teams. Now the Moss family owned 444 00:21:49,359 --> 00:21:51,359 Speaker 6: the team and run the team, so I was the 445 00:21:51,359 --> 00:21:54,640 Speaker 6: first non owner, and I just didn't think that was right, 446 00:21:54,840 --> 00:21:58,960 Speaker 6: just given the importance of this cohort to the teams, 447 00:21:59,080 --> 00:22:02,040 Speaker 6: to the leagues, to the sports. I just felt like, 448 00:22:02,160 --> 00:22:03,840 Speaker 6: I need to do something while I'm in this role, 449 00:22:03,880 --> 00:22:06,040 Speaker 6: because I knew that at some point I would not 450 00:22:06,119 --> 00:22:07,879 Speaker 6: be in this role. And so I started, you know, 451 00:22:07,920 --> 00:22:10,480 Speaker 6: talking to other enterprises of same I think we need 452 00:22:10,520 --> 00:22:12,320 Speaker 6: a platform to do a couple of things. 453 00:22:12,320 --> 00:22:14,280 Speaker 5: I think we need to. 454 00:22:13,680 --> 00:22:17,680 Speaker 6: Elevate the importance of Latinos to the global sports industry. 455 00:22:17,960 --> 00:22:21,480 Speaker 6: I had the great fortune of partnering with Pedro Guerrero, 456 00:22:21,520 --> 00:22:25,440 Speaker 6: who is the editor of Hispanic Executive magazine, and say, 457 00:22:25,560 --> 00:22:28,840 Speaker 6: why don't we create an enterprise lis Latinos and sports, 458 00:22:29,400 --> 00:22:33,600 Speaker 6: and let's start by actually creating some data out there 459 00:22:33,640 --> 00:22:35,800 Speaker 6: and putting it out there. And so we had an 460 00:22:35,800 --> 00:22:38,240 Speaker 6: event here in New York City as part of the 461 00:22:38,359 --> 00:22:40,160 Speaker 6: US Open. So we wanted to tie it to these 462 00:22:40,240 --> 00:22:43,240 Speaker 6: large ten pole events, in which we released this report 463 00:22:43,280 --> 00:22:47,480 Speaker 6: Game Changer, which I invite everybody to download and major 464 00:22:47,600 --> 00:22:48,480 Speaker 6: major takeaways. 465 00:22:48,520 --> 00:22:48,679 Speaker 5: You know. 466 00:22:48,760 --> 00:22:53,000 Speaker 6: The first obviously unmatched enthusiasm for Latino fans and a 467 00:22:53,040 --> 00:22:56,119 Speaker 6: couple of non traditional sports you would think, right, So 468 00:22:56,400 --> 00:23:01,080 Speaker 6: thirty one percent more likely to be avid WNBA fan. Okay, right, 469 00:23:01,480 --> 00:23:02,480 Speaker 6: very interesting. 470 00:23:02,200 --> 00:23:05,600 Speaker 3: Take note Minnesota links, yeah, absolutely noted. 471 00:23:06,520 --> 00:23:09,840 Speaker 6: Notably younger. Obviously this is a very young covert. And 472 00:23:10,080 --> 00:23:12,840 Speaker 6: I'll say two statistics on that, right, seventy two percent 473 00:23:12,840 --> 00:23:16,040 Speaker 6: of Latino fans are gen Z or millennial compared to 474 00:23:16,080 --> 00:23:19,520 Speaker 6: fifty percent of the general market. But also the most 475 00:23:19,560 --> 00:23:24,600 Speaker 6: common age of this community, right, the largest segment is fourteen, 476 00:23:25,320 --> 00:23:31,199 Speaker 6: the general population fifty nine. Yes, so that census data. 477 00:23:32,000 --> 00:23:35,639 Speaker 6: So if you look at the Latino community, the largest 478 00:23:35,680 --> 00:23:39,720 Speaker 6: sort of segment is aged fourteen. Wow, and the largest 479 00:23:39,760 --> 00:23:41,800 Speaker 6: segment of the general population fifteen. So if you're a 480 00:23:41,840 --> 00:23:48,600 Speaker 6: consumer company like sports, these are right now your targets 481 00:23:48,880 --> 00:23:52,359 Speaker 6: to not only get them in the fold today, but 482 00:23:52,480 --> 00:23:55,119 Speaker 6: to actually have them in the fold for many years 483 00:23:55,160 --> 00:23:59,320 Speaker 6: to come. Digital first one hundred percent. This is an 484 00:23:59,320 --> 00:24:02,520 Speaker 6: issue that I think really resonates in sports. When you 485 00:24:02,560 --> 00:24:05,600 Speaker 6: think about Latino fans, they're thirty eight percent more likely 486 00:24:05,960 --> 00:24:09,960 Speaker 6: to use TikTok for sports news and consumption. So when 487 00:24:09,960 --> 00:24:14,320 Speaker 6: we're talking about the methods of reaching this incredibly young 488 00:24:14,440 --> 00:24:17,560 Speaker 6: cohort that's very digitally savvy, you have to start thinking 489 00:24:17,560 --> 00:24:19,640 Speaker 6: about these other you know, means. 490 00:24:19,480 --> 00:24:21,919 Speaker 2: Alex knows that from the fan who live. 491 00:24:21,840 --> 00:24:26,200 Speaker 3: In the household TikTokers who have the last name Rodriguez. 492 00:24:26,680 --> 00:24:28,159 Speaker 5: Absolutely, I have seen that. 493 00:24:28,240 --> 00:24:31,960 Speaker 3: Actually we all have, I mean, but most importantly we've 494 00:24:31,960 --> 00:24:34,440 Speaker 3: seen Alex on tip doing the dances. 495 00:24:34,640 --> 00:24:35,760 Speaker 1: Yeah, that's is quite embarrassing. 496 00:24:35,840 --> 00:24:37,040 Speaker 2: Really what we're here for, aren't we? 497 00:24:37,080 --> 00:24:40,040 Speaker 6: Alex absolutely need you need to put a link to that. 498 00:24:40,119 --> 00:24:42,000 Speaker 6: You got to put a link to that one right there, 499 00:24:42,680 --> 00:24:44,520 Speaker 6: you know. And then and then sitting in the chair 500 00:24:44,560 --> 00:24:46,520 Speaker 6: that I did in terms of CEO, you want to know. Okay, 501 00:24:46,520 --> 00:24:48,879 Speaker 6: so but how do we monetize this? What does this 502 00:24:49,000 --> 00:24:51,760 Speaker 6: mean for revenue? And this was the statistic that got 503 00:24:51,800 --> 00:24:55,800 Speaker 6: me right. Latino fans eleven percent more likely to purchase 504 00:24:55,920 --> 00:25:01,200 Speaker 6: a brand after experiencing a sponsor message and twenty percent 505 00:25:01,320 --> 00:25:04,639 Speaker 6: more likely to engage in life betting thirty nine percent 506 00:25:04,720 --> 00:25:08,639 Speaker 6: more likely than the general population to recommend a sponsor. 507 00:25:09,040 --> 00:25:10,760 Speaker 5: So this is actionable. 508 00:25:11,080 --> 00:25:14,320 Speaker 6: This isn't just Hey, they're young, they're on social media, 509 00:25:14,400 --> 00:25:18,280 Speaker 6: they're digital It's like, no, they are fans, they are young, 510 00:25:18,960 --> 00:25:21,400 Speaker 6: they're are digitally savvy, and they buy. 511 00:25:21,960 --> 00:25:24,840 Speaker 3: And so Alex, when you hear this stuff, like is 512 00:25:24,880 --> 00:25:27,080 Speaker 3: it as surprising to you? What are the things that 513 00:25:27,320 --> 00:25:30,080 Speaker 3: you react to again? I mean not to hit the 514 00:25:30,160 --> 00:25:32,280 Speaker 3: nail on the head too many times, Like as a 515 00:25:32,359 --> 00:25:35,480 Speaker 3: Latino in sports, when you hear these statistics, like what 516 00:25:35,560 --> 00:25:36,280 Speaker 3: do you think? 517 00:25:36,680 --> 00:25:40,080 Speaker 1: Well, I agree, I just didn't think there were this big. 518 00:25:40,240 --> 00:25:42,119 Speaker 4: Yeah, these numbers are really big and you have to 519 00:25:42,160 --> 00:25:45,359 Speaker 4: pay attention to them, whether it's politics or sports. I mean, 520 00:25:46,160 --> 00:25:48,280 Speaker 4: Latinos are going to have a big influence and a 521 00:25:48,280 --> 00:25:51,680 Speaker 4: big impact in who's in the White House and how 522 00:25:51,720 --> 00:25:53,280 Speaker 4: to really grow these enterprises. 523 00:25:53,440 --> 00:25:56,560 Speaker 6: If you don't mind me say something like Alex sitting 524 00:25:56,680 --> 00:26:00,000 Speaker 6: in the ownership's chair. We need more of that, Yeah, 525 00:26:00,240 --> 00:26:03,960 Speaker 6: we really do. And it's not just for diversity's sake. 526 00:26:04,160 --> 00:26:08,960 Speaker 6: It's because of perspective. It's because of the cultural impact 527 00:26:09,040 --> 00:26:12,800 Speaker 6: that you can bring to any organization, but specifically one 528 00:26:12,840 --> 00:26:18,240 Speaker 6: that's as culturally influential as a sports franchise. And that's 529 00:26:18,400 --> 00:26:22,200 Speaker 6: part of this entire conversation is listen, there are incredible 530 00:26:22,200 --> 00:26:24,959 Speaker 6: individuals out there that certainly should be in sports that 531 00:26:25,040 --> 00:26:29,200 Speaker 6: have the financial means but also have these different backgrounds 532 00:26:29,240 --> 00:26:33,040 Speaker 6: and perspectives. And again, for me, it's about decision making. 533 00:26:33,119 --> 00:26:36,600 Speaker 6: What is the right decision making tree? And when you 534 00:26:36,800 --> 00:26:44,720 Speaker 6: have different perspectives, whether they're professional, different, diversity, ethnic, gender, international, 535 00:26:45,160 --> 00:26:48,879 Speaker 6: I think all that makes for better business decision making. 536 00:26:49,200 --> 00:26:51,040 Speaker 6: One of the things I wanted to make sure though, 537 00:26:51,200 --> 00:26:53,480 Speaker 6: and you've heard me say this is this isn't just 538 00:26:53,520 --> 00:26:58,200 Speaker 6: about Latinos talking to Latinos. We need non Latino decision 539 00:26:58,280 --> 00:27:01,320 Speaker 6: makers to be in the room. I was blessed to 540 00:27:01,359 --> 00:27:03,840 Speaker 6: be the person that could decide certain things in the 541 00:27:03,920 --> 00:27:05,560 Speaker 6: role that I was with the Coyotes, and I said, 542 00:27:05,720 --> 00:27:08,960 Speaker 6: I want to start the first diverse coach's internship program. 543 00:27:09,000 --> 00:27:10,479 Speaker 6: And the way I did it, I was like, I 544 00:27:10,520 --> 00:27:13,880 Speaker 6: just invited two African American coach well one was Canadian 545 00:27:14,280 --> 00:27:16,600 Speaker 6: and the other one was from DC. And I asked 546 00:27:16,600 --> 00:27:19,840 Speaker 6: my French Canadian coach and my Canadian GM, can they 547 00:27:19,960 --> 00:27:23,200 Speaker 6: just be part of our rookie camp. And ten days 548 00:27:23,280 --> 00:27:25,960 Speaker 6: later what happened. We hired one of them full time 549 00:27:26,520 --> 00:27:29,280 Speaker 6: and the other one we recommended to USA Hockey and 550 00:27:29,320 --> 00:27:32,800 Speaker 6: now he's the head coach of the first HBCU hockey team, 551 00:27:33,160 --> 00:27:35,320 Speaker 6: and I remember my coach coming up to me and saying, 552 00:27:35,680 --> 00:27:38,240 Speaker 6: we would have never known them, we would have never 553 00:27:38,560 --> 00:27:41,879 Speaker 6: realized how talented coaches they were. And any what you 554 00:27:42,080 --> 00:27:44,159 Speaker 6: appreciated is like I didn't force him to do it. 555 00:27:44,200 --> 00:27:47,119 Speaker 6: I just invited them. And that's the thing putting people 556 00:27:47,160 --> 00:27:49,959 Speaker 6: in the room and having voices in the room. And 557 00:27:50,000 --> 00:27:53,720 Speaker 6: so Alice, I want here for me to publicly applaud 558 00:27:53,760 --> 00:27:56,840 Speaker 6: you for embracing the role being an owner. I'm very, 559 00:27:57,000 --> 00:27:59,479 Speaker 6: very proud of the fact that you're there, and I 560 00:27:59,560 --> 00:28:01,800 Speaker 6: know that you using your voice to just say, hey, 561 00:28:02,160 --> 00:28:05,240 Speaker 6: there's other opportunities that we not only as a team, 562 00:28:05,560 --> 00:28:08,080 Speaker 6: but as a league and as a sport, should be embracing. 563 00:28:08,119 --> 00:28:10,520 Speaker 6: So you make us all incredibly proud. 564 00:28:10,680 --> 00:28:13,199 Speaker 1: Yeah, thank you, hevery that means a lot coming from you. 565 00:28:13,760 --> 00:28:17,000 Speaker 4: We have a very very smart audience that listens to 566 00:28:17,040 --> 00:28:20,200 Speaker 4: the show, and I want to kind of as you talk, 567 00:28:20,400 --> 00:28:22,400 Speaker 4: I said, boy, I wish I was fifteen years old 568 00:28:22,520 --> 00:28:25,119 Speaker 4: listening to you. So I'm going to move forward a 569 00:28:25,119 --> 00:28:28,200 Speaker 4: little bit. For some of our listeners who are young 570 00:28:28,880 --> 00:28:32,200 Speaker 4: or younger than us, and your Latin or you're minority 571 00:28:32,240 --> 00:28:34,800 Speaker 4: of some sort, what are some of the things that 572 00:28:34,840 --> 00:28:37,440 Speaker 4: they have to do to kind of follow your path, 573 00:28:37,960 --> 00:28:39,880 Speaker 4: and even more importantly, what are the things they should 574 00:28:39,920 --> 00:28:43,560 Speaker 4: avoid from doing to try to stay in play for 575 00:28:43,640 --> 00:28:46,320 Speaker 4: this possible dream opportunity that you're in and I'm in. 576 00:28:47,640 --> 00:28:47,880 Speaker 5: Listen. 577 00:28:48,160 --> 00:28:50,960 Speaker 6: I think it's a number of things. I think first 578 00:28:51,000 --> 00:28:54,320 Speaker 6: and foremost, it really comes by embracing those opportunities that 579 00:28:54,400 --> 00:28:58,120 Speaker 6: the door openers. You know, sometimes we say, well I 580 00:28:58,160 --> 00:29:01,400 Speaker 6: don't know that, and I don't want to fail, or 581 00:29:01,440 --> 00:29:03,680 Speaker 6: I'm embarrassed about it, and it's hard. 582 00:29:04,080 --> 00:29:04,440 Speaker 5: Listen. 583 00:29:04,760 --> 00:29:06,959 Speaker 6: My son makes fun of me that I go up 584 00:29:06,960 --> 00:29:09,600 Speaker 6: to people all the time and introduce myself. I said, well, 585 00:29:09,720 --> 00:29:12,240 Speaker 6: it's not like how that's how I started. I was 586 00:29:12,320 --> 00:29:14,480 Speaker 6: like everybody else, you're kind of embarrassed, You're like, what 587 00:29:14,520 --> 00:29:19,640 Speaker 6: do you do? But creating those opportunities, embracing those opportunities, 588 00:29:19,680 --> 00:29:23,240 Speaker 6: I think is incredibly important. I think also, you know, 589 00:29:23,720 --> 00:29:27,760 Speaker 6: building relationships, building network I was just in one of 590 00:29:27,760 --> 00:29:31,160 Speaker 6: your guys's for Bloomberg, your Hispanic Heritage Month events, and 591 00:29:31,200 --> 00:29:34,640 Speaker 6: one of the conversation was the importance of networking. It's 592 00:29:35,200 --> 00:29:40,840 Speaker 6: difficult because you think it's inauthentic to have relationships that 593 00:29:40,920 --> 00:29:44,320 Speaker 6: maybe aren't your friends and family, they're your acquaintances. I 594 00:29:44,400 --> 00:29:46,520 Speaker 6: learned that very early on, that it's okay to have 595 00:29:46,560 --> 00:29:49,880 Speaker 6: acquaintances that you're connecting with and that you touch base 596 00:29:49,920 --> 00:29:53,440 Speaker 6: with every now and then, and that's what creates opportunity. 597 00:29:53,640 --> 00:29:56,520 Speaker 6: And I think, you know, the other thing is embrace 598 00:29:56,560 --> 00:30:00,479 Speaker 6: your voice, embrace the power that you have and to 599 00:30:00,560 --> 00:30:03,520 Speaker 6: say I actually do bring something important to the table. 600 00:30:03,680 --> 00:30:07,560 Speaker 6: I do have a different perspective, whether it's your personal journey, 601 00:30:07,600 --> 00:30:10,880 Speaker 6: whether it's having come from a very different socioeconomic environment 602 00:30:10,880 --> 00:30:14,240 Speaker 6: that you can add to the discussion. But also listen, 603 00:30:14,400 --> 00:30:17,520 Speaker 6: hard work nothing happens overnight. 604 00:30:17,760 --> 00:30:17,960 Speaker 5: You know. 605 00:30:18,000 --> 00:30:20,600 Speaker 6: I love the saying, you know an overnight sensation that 606 00:30:20,640 --> 00:30:24,200 Speaker 6: it takes twenty years to establish. I mean, Alex, you 607 00:30:24,240 --> 00:30:27,800 Speaker 6: didn't just show up in the owner's chair. I saw 608 00:30:27,840 --> 00:30:32,200 Speaker 6: you at the Milk and Global conference probably about eight 609 00:30:32,320 --> 00:30:35,000 Speaker 6: years ago, nine years ago, and I saw you working 610 00:30:35,080 --> 00:30:37,479 Speaker 6: a room of people saying I'd like to learn from you, 611 00:30:37,800 --> 00:30:41,760 Speaker 6: I'd like to sit with you. That's work, That is, 612 00:30:42,040 --> 00:30:46,160 Speaker 6: you know every day knowing you're going to build something fantastic. 613 00:30:46,560 --> 00:30:48,800 Speaker 6: But it's one brick at a time, as they would say, 614 00:30:49,240 --> 00:30:51,760 Speaker 6: and so it doesn't happen you don't snap your fingers 615 00:30:51,800 --> 00:30:53,960 Speaker 6: and show up and you know you're a partner at 616 00:30:54,000 --> 00:30:54,840 Speaker 6: clear Lake tomorrow. 617 00:30:55,000 --> 00:30:55,160 Speaker 1: Right. 618 00:30:55,280 --> 00:30:58,040 Speaker 6: But it's all those steps in a journey, and if 619 00:30:58,080 --> 00:31:00,880 Speaker 6: you recognize all those I think important factors. Yeah, I 620 00:31:00,920 --> 00:31:01,800 Speaker 6: think that's how you get there. 621 00:31:08,280 --> 00:31:08,680 Speaker 1: All right. 622 00:31:08,720 --> 00:31:12,600 Speaker 3: So we're gonna wrap this with our lightning round, rapid 623 00:31:12,640 --> 00:31:13,240 Speaker 3: fire round. 624 00:31:13,480 --> 00:31:14,920 Speaker 2: So we're gonna bounce back and forth. 625 00:31:15,000 --> 00:31:17,280 Speaker 3: Alex and I, all right, what's the best piece of 626 00:31:17,320 --> 00:31:21,040 Speaker 3: advice you've ever received on deal making or business trust 627 00:31:21,080 --> 00:31:21,520 Speaker 3: in people? 628 00:31:21,920 --> 00:31:24,200 Speaker 1: Who's your dream deal making partner? 629 00:31:24,760 --> 00:31:27,200 Speaker 6: Ol sefeliciana partner at Clearly. 630 00:31:28,520 --> 00:31:30,360 Speaker 2: What's the most nervous you've ever been. 631 00:31:30,720 --> 00:31:33,040 Speaker 6: Getting up in front of the NHL draft knowing that 632 00:31:33,120 --> 00:31:37,160 Speaker 6: twenty thousand people were going to boom me? What's your 633 00:31:37,240 --> 00:31:41,400 Speaker 6: hype song before a big meeting or negotiation started from 634 00:31:41,480 --> 00:31:41,840 Speaker 6: the bottom? 635 00:31:41,920 --> 00:31:44,720 Speaker 5: Now we're here, what's. 636 00:31:44,600 --> 00:31:47,320 Speaker 2: Your advice for someone listening who wants a career like yours? 637 00:31:48,920 --> 00:31:50,080 Speaker 5: Embrace the door openers? 638 00:31:50,320 --> 00:31:53,160 Speaker 3: Awesome, Javier, what a trait this is. I feel like 639 00:31:53,280 --> 00:31:56,240 Speaker 3: this has been sitting there for a long time, just 640 00:31:56,320 --> 00:31:58,479 Speaker 3: waiting to happen. I'm so glad you guys know each 641 00:31:58,520 --> 00:31:59,720 Speaker 3: other at least virtually now. 642 00:32:00,280 --> 00:32:02,960 Speaker 4: The only shame about this interview, Jason, is that I 643 00:32:03,000 --> 00:32:05,440 Speaker 4: could listen to Javier for hours, I know, and we 644 00:32:05,520 --> 00:32:07,280 Speaker 4: already have to end, but we'll have to continue over 645 00:32:07,320 --> 00:32:10,280 Speaker 4: dinner sometime maybe in the wintertime in scott totally. 646 00:32:10,360 --> 00:32:15,320 Speaker 3: I think Scottsdale round of golf, dinner at the Goudiera's household. 647 00:32:15,360 --> 00:32:18,080 Speaker 3: I'm just I'm saying I'm willing that into. 648 00:32:17,920 --> 00:32:20,400 Speaker 2: Being, putting it out into the unit, out of the universe. 649 00:32:20,480 --> 00:32:22,200 Speaker 2: All right, thank you, my friend, Thank you guys. 650 00:32:22,240 --> 00:32:23,120 Speaker 5: It's a really pleasure. 651 00:32:30,600 --> 00:32:33,560 Speaker 3: The Deal is hosted by Alex Rodriguez and me Jason Kelly. 652 00:32:34,080 --> 00:32:37,920 Speaker 3: This episode was made by Stacey Wong, Annamasaracus, Lizzie Phillip, 653 00:32:38,080 --> 00:32:41,640 Speaker 3: and Victor Eveez. Our theme music was made by Blake Maples. 654 00:32:42,160 --> 00:32:46,479 Speaker 3: Our executive producers are Kelly Laferrier, Ashley Honig, and Brendan Newnham. 655 00:32:47,000 --> 00:32:50,520 Speaker 3: Sage Bauman is the head of Bloomberg Podcast. Additional support 656 00:32:50,560 --> 00:32:54,720 Speaker 3: from Rachel Scaramzzino and Elena Los Angeles. Thanks for listening 657 00:32:54,760 --> 00:32:57,480 Speaker 3: to the Deal. If you have a minute, please subscribe, rate, 658 00:32:57,600 --> 00:33:00,760 Speaker 3: and review our show. It'll help other listeners find us, 659 00:33:01,200 --> 00:33:03,720 Speaker 3: and remember, if you're a Bloomberg subscriber, you can listen 660 00:33:03,800 --> 00:33:07,160 Speaker 3: to all of our episodes absolutely ad free on Apple Podcasts. 661 00:33:07,600 --> 00:33:09,520 Speaker 3: All you need to do is find the Bloomberg channel 662 00:33:09,720 --> 00:33:11,080 Speaker 3: and connect your Bloomberg account. 663 00:33:11,440 --> 00:33:13,280 Speaker 2: I'm Jason Kelly. See you next week.