1 00:00:00,480 --> 00:00:04,240 Speaker 1: This is Bloomberg Business of Sports. The cold heart truth 2 00:00:04,280 --> 00:00:07,880 Speaker 1: about the Olympic journey is not really been financially incentivize 3 00:00:08,000 --> 00:00:10,480 Speaker 1: in the same way that many of the professional sports are. 4 00:00:10,560 --> 00:00:13,720 Speaker 1: But this is a basketball involved the NBA, will bolls 5 00:00:13,760 --> 00:00:16,840 Speaker 1: are licensing arm thanks for fifty. All of those things 6 00:00:16,880 --> 00:00:19,600 Speaker 1: will make up what that looks like money in sports. 7 00:00:19,640 --> 00:00:21,640 Speaker 1: It's one of the reasons why I enjoyed doing on 8 00:00:21,920 --> 00:00:23,840 Speaker 1: Money Night Countdown and talk about some of the more 9 00:00:23,880 --> 00:00:27,320 Speaker 1: interesting aspects of business of sports. When you're talking sports, 10 00:00:27,440 --> 00:00:30,920 Speaker 1: discipline is the bridge from being good to ultimately being 11 00:00:31,040 --> 00:00:33,199 Speaker 1: great at whatever it is that you're trying to be 12 00:00:33,320 --> 00:00:36,800 Speaker 1: your accomplished at your profession. Bloomberg Business of Sports from 13 00:00:36,880 --> 00:00:41,080 Speaker 1: Bloomberg Radio. This is the Bloomberg Business of Sports show, 14 00:00:41,120 --> 00:00:43,040 Speaker 1: where we explore the big money issues in the world 15 00:00:43,080 --> 00:00:45,760 Speaker 1: of sports. On Michael Barren. We have a special guest 16 00:00:45,840 --> 00:00:49,600 Speaker 1: host coming from the vaults of the business of sports 17 00:00:49,680 --> 00:00:54,120 Speaker 1: fantasy shows. Damien Sassaur joins us. Welcome to the show, 18 00:00:54,240 --> 00:00:56,920 Speaker 1: my man. Thanks for having me, Mr bar oh Man, 19 00:00:57,120 --> 00:00:59,000 Speaker 1: We're gonna have some fun later on when the football 20 00:00:59,040 --> 00:01:01,840 Speaker 1: season comes up. Coming up today, we will talk with 21 00:01:01,920 --> 00:01:04,360 Speaker 1: the former chairman of the board and CEO of t 22 00:01:04,520 --> 00:01:08,639 Speaker 1: d A Merritrade Joe Mowglia, who is also a former 23 00:01:08,720 --> 00:01:12,560 Speaker 1: head coach at Coastal Carolina University. And what you're seeing 24 00:01:12,640 --> 00:01:15,120 Speaker 1: now is a direct result of the NT double A 25 00:01:15,280 --> 00:01:18,280 Speaker 1: not being involved in the final decision making process with 26 00:01:18,400 --> 00:01:21,560 Speaker 1: regard to n I M so with the biggest decision 27 00:01:21,720 --> 00:01:24,880 Speaker 1: of frankly, the biggest event that's happened to history college sports, 28 00:01:25,400 --> 00:01:27,520 Speaker 1: NC double A wasn't around. So you have the wild 29 00:01:27,600 --> 00:01:30,520 Speaker 1: wild West A. You're gonna have plenty of issues that 30 00:01:30,600 --> 00:01:33,280 Speaker 1: are associated with that. Straight ahead on the Bloomberg Business 31 00:01:33,319 --> 00:01:35,560 Speaker 1: of Sports Show. But first let's look at some of 32 00:01:35,640 --> 00:01:38,040 Speaker 1: the top stories of the week, and let's start with 33 00:01:38,400 --> 00:01:42,200 Speaker 1: a Rod, yes we know him as a Rod Alex Rodriguez, 34 00:01:42,280 --> 00:01:47,600 Speaker 1: investing in Fight Promoter Professional Fighters League, which goes to 35 00:01:47,720 --> 00:01:51,400 Speaker 1: show you that when you have enough money, Damian, you 36 00:01:51,520 --> 00:01:54,560 Speaker 1: can invest in anything. Isn't that the truth? If I mean, look, 37 00:01:54,600 --> 00:01:56,200 Speaker 1: you know about A Rod's back. You know he's had 38 00:01:56,280 --> 00:01:59,000 Speaker 1: some some kind of some stumbles in terms of finding 39 00:01:59,080 --> 00:02:01,600 Speaker 1: some investments for this back, but it looks like he 40 00:02:01,640 --> 00:02:03,920 Speaker 1: found something here and Fight Promoter PFL. It looks like 41 00:02:04,120 --> 00:02:07,200 Speaker 1: he is um I think the initial round that he's 42 00:02:07,240 --> 00:02:09,680 Speaker 1: now in values the company at something on the order 43 00:02:09,720 --> 00:02:12,080 Speaker 1: of half a billion dollars, right, and he joins others 44 00:02:12,200 --> 00:02:17,440 Speaker 1: like Edgar Bronfman Aries Capital Um, I believe, even with Khalifa, 45 00:02:17,560 --> 00:02:20,120 Speaker 1: are invested in the organization. And so look, you know, 46 00:02:20,200 --> 00:02:22,600 Speaker 1: I mean ultimate fighting. I mean, m m a. That's 47 00:02:22,600 --> 00:02:26,480 Speaker 1: hot stuff, Michael, you know it. Yeah, that they used 48 00:02:26,480 --> 00:02:28,239 Speaker 1: to say even in The Godfather, there's a lot of 49 00:02:28,280 --> 00:02:32,400 Speaker 1: money in that fighting. And when you get into a 50 00:02:32,639 --> 00:02:37,000 Speaker 1: Rod and the investments, his name alone can draw a 51 00:02:37,200 --> 00:02:40,200 Speaker 1: lot of investors. Absolutely. I mean, look, you know a 52 00:02:40,360 --> 00:02:42,560 Speaker 1: Rod is now also, I believe, a controlling shareholder of 53 00:02:42,560 --> 00:02:44,880 Speaker 1: the Minnesota Timberwolves. I believe. Yeah. So I mean you know, 54 00:02:45,040 --> 00:02:47,239 Speaker 1: he's he's been making moves and look, you know, I 55 00:02:47,280 --> 00:02:49,000 Speaker 1: mean kudos to him because I think what it comes 56 00:02:49,040 --> 00:02:50,560 Speaker 1: down to for a Rod, and what makes it so 57 00:02:50,680 --> 00:02:53,160 Speaker 1: impressive to me are the partners he chooses. So when 58 00:02:53,160 --> 00:02:54,960 Speaker 1: he invested in the t Wolves, I mean I think 59 00:02:55,040 --> 00:02:58,760 Speaker 1: Mark Lore former exact at Walmart, was kind of his um, 60 00:02:58,960 --> 00:03:01,480 Speaker 1: his partner in that. And look, I mean just looking 61 00:03:01,520 --> 00:03:03,880 Speaker 1: at the partners here for PFL, I mean, like I said, 62 00:03:03,960 --> 00:03:06,639 Speaker 1: Edgar Boffman, and so forth. It looks like, um, you know, 63 00:03:06,720 --> 00:03:09,200 Speaker 1: he surrounds himself with some talented investors, and you know, 64 00:03:09,639 --> 00:03:11,239 Speaker 1: kudos to him. You know, you really can't shake a 65 00:03:11,240 --> 00:03:13,000 Speaker 1: stick at it. You know, a Rod is doing things, 66 00:03:13,080 --> 00:03:15,760 Speaker 1: and he's he's moving markets a round is going to 67 00:03:15,919 --> 00:03:19,720 Speaker 1: join the board of directors UH in this latest deal. 68 00:03:19,800 --> 00:03:22,720 Speaker 1: And I'm sure that he's going to knock a home run. Oh, 69 00:03:23,400 --> 00:03:27,280 Speaker 1: then there we are. He'll be fine with this next 70 00:03:27,400 --> 00:03:30,080 Speaker 1: topic to talk about, and this is something we might 71 00:03:30,160 --> 00:03:32,000 Speaker 1: want to bring up with our guests later on too, 72 00:03:32,480 --> 00:03:35,520 Speaker 1: Nick Saban, Uh, he is calling out Texas A and 73 00:03:35,720 --> 00:03:38,360 Speaker 1: M for using n I L deals to buy players. 74 00:03:38,600 --> 00:03:42,360 Speaker 1: The Alabama coach who was talking about n I L 75 00:03:42,440 --> 00:03:45,240 Speaker 1: deals and all the money that you can make, he's 76 00:03:45,280 --> 00:03:47,440 Speaker 1: not happy with Texas A and M. Right now, Well, 77 00:03:47,480 --> 00:03:48,920 Speaker 1: I mean he's not just calling out A and M. 78 00:03:48,960 --> 00:03:51,560 Speaker 1: He's calling out his former assistant, Chimbo Fisher, right. I mean, 79 00:03:51,640 --> 00:03:54,000 Speaker 1: let's be clear, and look, I mean, don't get me wrong. 80 00:03:54,040 --> 00:03:55,760 Speaker 1: I mean there are a lot of things that are 81 00:03:55,800 --> 00:03:58,280 Speaker 1: wrong with within I L and And the fact is, 82 00:03:58,440 --> 00:04:00,480 Speaker 1: you know, if you look at like Jackson's, for example, 83 00:04:00,520 --> 00:04:02,880 Speaker 1: I think they paid a Division one player to UH 84 00:04:03,320 --> 00:04:05,720 Speaker 1: to enroll. They pay them nearly a million dollars. And 85 00:04:05,760 --> 00:04:08,240 Speaker 1: it's these collectives, right, these third party marketing kind of 86 00:04:08,320 --> 00:04:11,240 Speaker 1: agencies that are backed by boosters for a specific university, 87 00:04:11,800 --> 00:04:14,880 Speaker 1: that are basically paying these athletes to to to to 88 00:04:15,160 --> 00:04:17,160 Speaker 1: join the university. I mean, if you look at University 89 00:04:17,160 --> 00:04:19,880 Speaker 1: of Miami, I think they're paying athletes four hundred thousand 90 00:04:19,920 --> 00:04:21,880 Speaker 1: dollars each to be to be a member of that team. 91 00:04:21,920 --> 00:04:24,560 Speaker 1: I mean, this is Look, it's it's pay for play now. 92 00:04:24,680 --> 00:04:28,000 Speaker 1: It's no longer about um. You know, athletes basically earning 93 00:04:28,040 --> 00:04:30,360 Speaker 1: their keep their earning before they get there. Do you 94 00:04:30,560 --> 00:04:34,160 Speaker 1: think that this is something as we go along the 95 00:04:35,000 --> 00:04:37,440 Speaker 1: Supreme Court will step in one day and say, hey, 96 00:04:37,720 --> 00:04:40,160 Speaker 1: whoa wait a minute, we we've seen enough. I do? 97 00:04:40,360 --> 00:04:42,200 Speaker 1: I do? I mean, look, I think the reality is 98 00:04:42,279 --> 00:04:44,680 Speaker 1: the n C double A can't enforce anything because no, 99 00:04:45,000 --> 00:04:46,800 Speaker 1: none of the stuff is illegal any longer. Right, So, 100 00:04:47,279 --> 00:04:49,839 Speaker 1: despite you know it being bad for the sport, good 101 00:04:49,920 --> 00:04:51,920 Speaker 1: for the sport, whatever the case may be, the fact 102 00:04:51,960 --> 00:04:53,720 Speaker 1: that the n C double A is operating with his 103 00:04:53,800 --> 00:04:56,360 Speaker 1: hands cuffed behind his back it tells me everything I 104 00:04:56,400 --> 00:04:57,599 Speaker 1: need to know. And look, if you look at NC 105 00:04:57,680 --> 00:04:59,640 Speaker 1: double A pres Mark Emeron. I mean he stepped down, 106 00:04:59,680 --> 00:05:01,960 Speaker 1: I think in large part do to all the issues 107 00:05:01,960 --> 00:05:04,920 Speaker 1: they're having with and I am Michael. Now, I'm not 108 00:05:04,960 --> 00:05:07,520 Speaker 1: going to bring up that the Aggies did beat Alabama 109 00:05:07,640 --> 00:05:13,600 Speaker 1: last season, but you know, hey, listen, Nick Saban he 110 00:05:14,080 --> 00:05:17,960 Speaker 1: is and when it comes to football coaches, especially in 111 00:05:18,040 --> 00:05:22,720 Speaker 1: today's world, he is the football god of coaches right now. 112 00:05:23,160 --> 00:05:26,280 Speaker 1: So I yes, when he says something, I'm going to 113 00:05:26,400 --> 00:05:29,720 Speaker 1: listen to it. Um Whether I agree or disagree, I 114 00:05:29,800 --> 00:05:33,880 Speaker 1: don't know, because I guess Damien. My view has always been, 115 00:05:34,880 --> 00:05:37,440 Speaker 1: if you are an athlete, whether you're in college or 116 00:05:37,480 --> 00:05:40,360 Speaker 1: whether you are pro, get what you can, why you 117 00:05:40,520 --> 00:05:43,400 Speaker 1: can do it legally? Though? Yeah, yeah, no, absolutely, I 118 00:05:43,400 --> 00:05:45,480 Speaker 1: mean I think they have. I mean, look, the athletes 119 00:05:45,520 --> 00:05:47,240 Speaker 1: are doing what they have to do, you know, I 120 00:05:47,279 --> 00:05:49,240 Speaker 1: mean they're basically looking to get paid. Now. I just 121 00:05:49,360 --> 00:05:51,440 Speaker 1: think it's gonna and it's gonna be interesting here Joe 122 00:05:51,520 --> 00:05:54,720 Speaker 1: Muglia's thoughts on this, because for me, you know, you know, 123 00:05:54,880 --> 00:05:56,880 Speaker 1: is that part of the recruiting process, Now, how much 124 00:05:56,920 --> 00:05:58,120 Speaker 1: are they going to pay you on the way in, 125 00:05:58,240 --> 00:05:59,920 Speaker 1: how much you're gonna get paid over the tenure of 126 00:06:00,080 --> 00:06:02,400 Speaker 1: your time there? And look, I mean these transfer rights 127 00:06:02,440 --> 00:06:04,040 Speaker 1: and all this stuff that goes on. I mean the 128 00:06:04,080 --> 00:06:06,840 Speaker 1: fact that an athlete can basically um commit to a 129 00:06:06,920 --> 00:06:10,040 Speaker 1: university and then leave without any penalty. They don't lose 130 00:06:10,080 --> 00:06:11,880 Speaker 1: a year of eligibility or anything. I mean, it's just 131 00:06:12,040 --> 00:06:14,839 Speaker 1: becoming like free agency, right, I mean, at the college level, 132 00:06:15,000 --> 00:06:18,880 Speaker 1: it's unbelievable. Next topic, if you're worried about the NBA 133 00:06:19,040 --> 00:06:24,440 Speaker 1: Playoffs ratings, don't worry about it. According to Sportico, thanks 134 00:06:24,520 --> 00:06:28,599 Speaker 1: to the Warriors and Celtics, we've got some good games 135 00:06:28,680 --> 00:06:32,320 Speaker 1: and a lot of eyeballs on the TV watching them. Yeah. No, 136 00:06:32,440 --> 00:06:34,520 Speaker 1: I mean, look, you know, I mean I think you know, 137 00:06:34,880 --> 00:06:39,640 Speaker 1: the Golden State Dallas UH series. You know, hopefully, hopefully 138 00:06:39,880 --> 00:06:41,920 Speaker 1: it's not such a one sided affair as we're kind 139 00:06:41,960 --> 00:06:44,280 Speaker 1: of getting the sense it might very well be. I mean, 140 00:06:44,400 --> 00:06:46,160 Speaker 1: Golden State looks like they showed up again in the 141 00:06:46,240 --> 00:06:48,120 Speaker 1: third quarter. If this is the old Golden State team 142 00:06:48,160 --> 00:06:49,840 Speaker 1: that does that and starts blowing teams out like that, 143 00:06:49,960 --> 00:06:52,960 Speaker 1: good luck. Um. But you know, a Warrior Celtics matchup 144 00:06:53,040 --> 00:06:55,960 Speaker 1: is just going to be a huge, huge win for 145 00:06:56,040 --> 00:06:58,760 Speaker 1: the NBA. It means a lot also for the Boston 146 00:06:58,880 --> 00:07:04,120 Speaker 1: area because Celtics. Obviously huge for Boston, but those restaurants 147 00:07:04,200 --> 00:07:08,000 Speaker 1: around there by the Garden, oh my goodness, they are 148 00:07:08,200 --> 00:07:10,640 Speaker 1: loving every minute of it. Yeah. Absolutely, I mean, look, 149 00:07:10,720 --> 00:07:12,960 Speaker 1: we look, let's be clear that the Celtics still got 150 00:07:13,000 --> 00:07:14,440 Speaker 1: to get through the heat. And Jimmy Butler, all right, 151 00:07:14,480 --> 00:07:16,600 Speaker 1: I mean Jimmy looks see I mean he lights out. 152 00:07:16,680 --> 00:07:18,840 Speaker 1: But look Jayson Tatum, I mean, what a great I mean, 153 00:07:18,920 --> 00:07:20,560 Speaker 1: what a great run the Celtics are making here. And 154 00:07:20,680 --> 00:07:22,760 Speaker 1: I mean Tatum is really rising to the occasion. He 155 00:07:22,840 --> 00:07:25,720 Speaker 1: just looks awesome. Well, there was some problems with Al 156 00:07:25,800 --> 00:07:27,760 Speaker 1: Horford from the fact that you know, he's got a 157 00:07:27,800 --> 00:07:31,120 Speaker 1: clearer protocol and stuff like that, and and and I 158 00:07:31,240 --> 00:07:35,960 Speaker 1: think you know the games where he wasn't there, Uh, 159 00:07:36,200 --> 00:07:38,760 Speaker 1: it caused a problem and they were shorthanded. But hey, 160 00:07:39,160 --> 00:07:42,320 Speaker 1: as we progress through the weekend, and as we continue on, 161 00:07:43,000 --> 00:07:47,000 Speaker 1: I am smelling NBA playoffs, which is why the ratings 162 00:07:47,280 --> 00:07:49,920 Speaker 1: are looking very good. That's right, first two rounds, I 163 00:07:49,960 --> 00:07:52,040 Speaker 1: mean of the NBA playoffs, we have now seen four 164 00:07:52,120 --> 00:07:55,640 Speaker 1: point one million viewers that the Hyacinths eighteen. I think 165 00:07:55,680 --> 00:07:57,720 Speaker 1: in last year, by comparison, it was only three point 166 00:07:57,760 --> 00:08:00,200 Speaker 1: six million at this time, so ghost shows. You know, 167 00:08:00,320 --> 00:08:02,760 Speaker 1: maybe coming out of the lockdown, you know, people are 168 00:08:03,000 --> 00:08:05,040 Speaker 1: people are paying a little bit more attention. Here looks 169 00:08:05,080 --> 00:08:09,119 Speaker 1: like Splash Brothers coming through Joining us now the former 170 00:08:09,240 --> 00:08:11,880 Speaker 1: chairman of the board and CEO of t D a 171 00:08:12,000 --> 00:08:15,840 Speaker 1: Merror Trade job, Mowgli, who is also a former head 172 00:08:15,880 --> 00:08:20,320 Speaker 1: football coach at Coastal Carolina University. Joe, thank you so 173 00:08:20,480 --> 00:08:22,720 Speaker 1: much for joining us on the Bloomberg Business of Sports. 174 00:08:23,520 --> 00:08:26,520 Speaker 1: I'm happy to beyond Michael Damian. I was I was 175 00:08:26,600 --> 00:08:29,080 Speaker 1: thinking of the questions that you know that pops in 176 00:08:29,200 --> 00:08:31,120 Speaker 1: my head, and I know you were thinking about it. 177 00:08:31,240 --> 00:08:35,719 Speaker 1: The first thing, Uh, you're you're you're connected with the 178 00:08:36,000 --> 00:08:38,599 Speaker 1: with t D and Merror Trade, and you also have 179 00:08:38,840 --> 00:08:41,840 Speaker 1: the experience of being a head football coach. How did 180 00:08:41,960 --> 00:08:45,760 Speaker 1: those two paths cross the I began my I began 181 00:08:45,880 --> 00:08:48,000 Speaker 1: my career as a football coach, and I did that 182 00:08:48,120 --> 00:08:50,559 Speaker 1: for sixteen years. And my goal is to be the 183 00:08:50,640 --> 00:08:53,240 Speaker 1: head coach at a major school. And I was defensive 184 00:08:53,320 --> 00:08:56,800 Speaker 1: coordinator at Dartmouth at the time. And uh, in January 185 00:08:57,240 --> 00:09:01,000 Speaker 1: four if you recall, Miami upset Nebraska to national championship 186 00:09:01,360 --> 00:09:03,880 Speaker 1: and they offered me a job and every They were 187 00:09:03,920 --> 00:09:05,320 Speaker 1: the team of the eighties, and every one of those 188 00:09:05,360 --> 00:09:07,720 Speaker 1: guys had terrific jobs, and that could not have been 189 00:09:07,760 --> 00:09:11,040 Speaker 1: a better opportunity for me. But I had also gone 190 00:09:11,080 --> 00:09:13,800 Speaker 1: through a divorce, we had four kids. I'd be living 191 00:09:13,840 --> 00:09:16,480 Speaker 1: in Carl Gables, my family be living in New Hampshire, 192 00:09:16,960 --> 00:09:19,199 Speaker 1: and back then we didn't make much money. And the 193 00:09:19,320 --> 00:09:21,959 Speaker 1: life of a football coaches seven days a week during 194 00:09:22,000 --> 00:09:24,079 Speaker 1: the season, eighty hours a week. There's no days off 195 00:09:24,120 --> 00:09:27,199 Speaker 1: for five months. And toughest career decision I've ever made 196 00:09:27,320 --> 00:09:30,400 Speaker 1: was turning down that job. But I didn't think I 197 00:09:30,480 --> 00:09:32,040 Speaker 1: could do my job as a coach if I couldn't 198 00:09:32,080 --> 00:09:34,679 Speaker 1: live up to my responsibility as a father. Okay, so 199 00:09:34,840 --> 00:09:37,160 Speaker 1: what else did I major in economics and school afford 200 00:09:37,200 --> 00:09:40,440 Speaker 1: hum and I always had an interest in Wall Street, 201 00:09:40,880 --> 00:09:43,520 Speaker 1: so I wound up hustling, and Merrill Lynch gave me 202 00:09:43,640 --> 00:09:47,520 Speaker 1: an opportunity in their institutional NBA training program. There were 203 00:09:47,559 --> 00:09:51,280 Speaker 1: twenty six of us NBAS on one football coach. Everybody said, 204 00:09:51,320 --> 00:09:53,480 Speaker 1: this football guy's not gonna make it here. But I'm very, 205 00:09:53,600 --> 00:09:56,360 Speaker 1: very proud of my career. Marylynsers there seventeen years and 206 00:09:56,480 --> 00:10:00,600 Speaker 1: then two thousand and one Merry Trade was in real trouble. Frankly, 207 00:10:00,640 --> 00:10:02,959 Speaker 1: they're going out of business, and they also be the job, 208 00:10:03,000 --> 00:10:04,760 Speaker 1: and I took it. So I moved from New York 209 00:10:04,800 --> 00:10:07,720 Speaker 1: City to omahand of Brass that we were headquartered, and uh, 210 00:10:07,880 --> 00:10:09,920 Speaker 1: then I couldn't been proud of the job we did there. 211 00:10:10,040 --> 00:10:13,439 Speaker 1: So at two thousand to beginning of two thousand and nine, 212 00:10:13,559 --> 00:10:16,439 Speaker 1: I stepped down and became chairman, which I was proud of. 213 00:10:16,679 --> 00:10:20,559 Speaker 1: And at the time, we had delivered return in the 214 00:10:20,600 --> 00:10:23,439 Speaker 1: previous six years for our for our shareholders, and this 215 00:10:23,679 --> 00:10:26,840 Speaker 1: included the financial crisis. We were by far the number 216 00:10:26,880 --> 00:10:30,080 Speaker 1: one performer in terms of any financial publicly traded company 217 00:10:30,120 --> 00:10:32,400 Speaker 1: in the world. So if we had won two or 218 00:10:32,440 --> 00:10:35,679 Speaker 1: three national championships in a row and we were at Vanderbilt, 219 00:10:36,040 --> 00:10:38,319 Speaker 1: coach of Vanderbilt, probably get any job we wanted. That's 220 00:10:38,360 --> 00:10:40,560 Speaker 1: where I was at the time, and and I wand 221 00:10:40,640 --> 00:10:43,480 Speaker 1: up then getting a call which I never anticipated from 222 00:10:43,520 --> 00:10:46,600 Speaker 1: a group of alumni yeah, telling me that the job 223 00:10:46,720 --> 00:10:48,880 Speaker 1: may be open and would i'd be interested. I reminded 224 00:10:48,920 --> 00:10:50,839 Speaker 1: of I had not coached for twenty four years, and 225 00:10:50,920 --> 00:10:52,640 Speaker 1: they said yeah. But we looked at the skill sets 226 00:10:52,760 --> 00:10:54,319 Speaker 1: head coach is supposed to have. We think they not 227 00:10:54,400 --> 00:10:56,959 Speaker 1: only have those skill sets, but we think you really 228 00:10:57,000 --> 00:11:00,240 Speaker 1: have competitive advantages of other people don't have. What's that, Well, 229 00:11:00,440 --> 00:11:02,440 Speaker 1: this has never been done before. So in a hunder 230 00:11:02,480 --> 00:11:04,560 Speaker 1: forty years of college football has never happened. It's going 231 00:11:04,640 --> 00:11:06,839 Speaker 1: to take a unique president that that can assess the 232 00:11:06,920 --> 00:11:09,600 Speaker 1: risk reward decisions, etcetera. And you don't have a lot. 233 00:11:09,640 --> 00:11:10,960 Speaker 1: You got a lot. You've got a lot of very 234 00:11:11,000 --> 00:11:14,040 Speaker 1: intelligent presidents in academia, but not that type of president. 235 00:11:14,400 --> 00:11:16,599 Speaker 1: But think about it. I did. I ultimately decided a 236 00:11:16,679 --> 00:11:18,400 Speaker 1: time when I could do pretty much anything I wanted 237 00:11:18,440 --> 00:11:19,760 Speaker 1: to what I thought, I want to go back. I 238 00:11:19,840 --> 00:11:22,000 Speaker 1: decided to go back to football. So I spent two 239 00:11:22,040 --> 00:11:26,000 Speaker 1: years in Nebraska, then one year in the UFL, and 240 00:11:26,120 --> 00:11:29,320 Speaker 1: then uh, the president at Nebraska, I'm sorry, the president 241 00:11:29,480 --> 00:11:32,240 Speaker 1: Coastal gave me the opportunity to come down and I 242 00:11:32,320 --> 00:11:36,160 Speaker 1: try to turn around the program, which we did well. Joe, 243 00:11:36,200 --> 00:11:38,120 Speaker 1: I'm wondering, you know, I mean, look, you know clearly 244 00:11:38,240 --> 00:11:40,200 Speaker 1: you know some of the headlines that are grabbing everyone's 245 00:11:40,200 --> 00:11:43,439 Speaker 1: attention today. Nick Saban going after Jimbo Fisher at Texas 246 00:11:43,480 --> 00:11:45,520 Speaker 1: A and m with regards to what's wrong with N 247 00:11:45,559 --> 00:11:46,920 Speaker 1: I L. You know what I mean. You know, my 248 00:11:47,080 --> 00:11:48,959 Speaker 1: question for you is, you know, do you see the 249 00:11:49,080 --> 00:11:53,240 Speaker 1: changes and how student athletes are approaching the recruitment process 250 00:11:53,360 --> 00:11:54,920 Speaker 1: due to N I L. I mean, are they more 251 00:11:55,000 --> 00:11:57,199 Speaker 1: concerned with getting paid today than they are with getting 252 00:11:57,200 --> 00:12:00,080 Speaker 1: a sound education or or just you know, improving as 253 00:12:00,080 --> 00:12:03,320 Speaker 1: an athlete. Well, I think it's I think they mean, 254 00:12:03,400 --> 00:12:04,800 Speaker 1: you were talking about a lot of money. Like I 255 00:12:04,880 --> 00:12:07,280 Speaker 1: don't know exactly what the numbers, but I'm probably pretty 256 00:12:07,320 --> 00:12:10,920 Speaker 1: close right now. Uh, there were probably at least thirty 257 00:12:11,000 --> 00:12:13,199 Speaker 1: five players they're getting a million dollars year or more. 258 00:12:13,880 --> 00:12:15,719 Speaker 1: And I think that three years we'll have well over 259 00:12:15,800 --> 00:12:18,920 Speaker 1: hundred players getting a million dollars a year and probably 260 00:12:19,480 --> 00:12:22,400 Speaker 1: five to ten making around the five million dollar number. 261 00:12:22,440 --> 00:12:24,840 Speaker 1: And I think about that. These are twenty year old kids. 262 00:12:24,920 --> 00:12:27,040 Speaker 1: So so when you ask them, you know, what's more 263 00:12:27,080 --> 00:12:31,240 Speaker 1: important than the money of their education, I think they're 264 00:12:31,280 --> 00:12:33,880 Speaker 1: probably lean towards the money. I think most of them 265 00:12:34,000 --> 00:12:35,720 Speaker 1: save the money, and I think the really smart ones 266 00:12:36,040 --> 00:12:37,800 Speaker 1: would say, well, both are important to me. There's no 267 00:12:37,840 --> 00:12:39,920 Speaker 1: reason why I can't do both. And that would be 268 00:12:40,040 --> 00:12:42,280 Speaker 1: something that I would show only advocate. There's no reason 269 00:12:42,320 --> 00:12:44,320 Speaker 1: why you can't get a good education and one up 270 00:12:44,320 --> 00:12:46,400 Speaker 1: making a lot of money besides that. But you know 271 00:12:46,520 --> 00:12:52,000 Speaker 1: the bickering going on between saving and between uh jumbo, Uh, 272 00:12:52,280 --> 00:12:54,280 Speaker 1: this is just gonna go. This is not gonna stop. 273 00:12:54,640 --> 00:12:56,520 Speaker 1: There's not gonna stop. And you know, there were no 274 00:12:56,679 --> 00:12:59,160 Speaker 1: rules here, there are no real guidelines and you've got 275 00:12:59,240 --> 00:13:01,199 Speaker 1: by laws in the in the n C double A 276 00:13:02,160 --> 00:13:05,439 Speaker 1: that frankly contradict some of the rules that actually that 277 00:13:05,640 --> 00:13:08,280 Speaker 1: laws that are the past that's allowing this to happen. 278 00:13:08,720 --> 00:13:11,240 Speaker 1: And what you're seeing now is a direct result of 279 00:13:11,440 --> 00:13:14,160 Speaker 1: the n Double A not being involved in the final 280 00:13:14,200 --> 00:13:17,160 Speaker 1: decision making process with regard to n I L. So 281 00:13:17,320 --> 00:13:20,560 Speaker 1: when the biggest decision, frankly, in the biggest event that's 282 00:13:20,559 --> 00:13:23,800 Speaker 1: happened to history college sports, n C Double A wasn't around. 283 00:13:23,840 --> 00:13:25,840 Speaker 1: So you have the wild Wild West, and you're gonna 284 00:13:25,880 --> 00:13:30,000 Speaker 1: have plenty of issues that are associated with that. Uh So, 285 00:13:31,040 --> 00:13:33,760 Speaker 1: if there are things that are legal to do today 286 00:13:33,920 --> 00:13:36,320 Speaker 1: that the n C Double A forty years ago would 287 00:13:36,320 --> 00:13:40,839 Speaker 1: have given you the death type before. So, uh, you're 288 00:13:41,040 --> 00:13:42,599 Speaker 1: you're gonna have, You're gonna have, You're gonna have some 289 00:13:42,720 --> 00:13:46,840 Speaker 1: issues with regards to college sports going forward, well, which 290 00:13:46,880 --> 00:13:49,840 Speaker 1: brings us to the next question, where do you see 291 00:13:49,880 --> 00:13:54,920 Speaker 1: the future of college sports going? Because some people love 292 00:13:55,000 --> 00:13:58,280 Speaker 1: the n I L and and other people are highly 293 00:13:58,320 --> 00:14:00,679 Speaker 1: critical of it. Will we see one day when the 294 00:14:00,720 --> 00:14:04,080 Speaker 1: courts come in and rule. Hey, wait a minute, let's 295 00:14:04,080 --> 00:14:08,000 Speaker 1: settle down here for a minute. Well, a couple of things, Mike, 296 00:14:08,080 --> 00:14:10,400 Speaker 1: I think. First of all, uh, you know, I am 297 00:14:10,440 --> 00:14:13,520 Speaker 1: a business guy, so I do understand how the money works, 298 00:14:13,559 --> 00:14:17,040 Speaker 1: and the amount of money that Power five schools gets incredible. Um. 299 00:14:17,240 --> 00:14:20,400 Speaker 1: For example, I bet you I don't know the exact number, 300 00:14:20,440 --> 00:14:23,680 Speaker 1: but I'm pretty close that last year, each school in 301 00:14:23,720 --> 00:14:26,040 Speaker 1: the Big ten received the check for seventy million dollars 302 00:14:26,240 --> 00:14:29,600 Speaker 1: just for football, just for football, and all the Power 303 00:14:29,680 --> 00:14:32,360 Speaker 1: five schools are getting those types of numbers just for football. 304 00:14:32,440 --> 00:14:34,120 Speaker 1: One check that it's Power five. Now, if you look 305 00:14:34,160 --> 00:14:36,320 Speaker 1: at us in a group of five, Coase Carolina, our 306 00:14:36,760 --> 00:14:41,320 Speaker 1: entire athletic budget for seventeen sports is thirty one million dollars, right, 307 00:14:41,400 --> 00:14:43,480 Speaker 1: So you've got the Power five. Then when it comes 308 00:14:43,520 --> 00:14:46,160 Speaker 1: to money, there is a humongous gap. You got the 309 00:14:46,240 --> 00:14:48,400 Speaker 1: G five and then there's a big there's a gap 310 00:14:48,440 --> 00:14:50,680 Speaker 1: from there and you've got the FCS. So so in 311 00:14:50,840 --> 00:14:53,200 Speaker 1: terms of division one, the only people think, the only 312 00:14:53,720 --> 00:14:55,680 Speaker 1: leagues that anybody cares about, it's gonna be the Power five. 313 00:14:55,760 --> 00:14:58,760 Speaker 1: But they get an incredible amount of money understanding that 314 00:14:59,360 --> 00:15:03,160 Speaker 1: I can appre shape. Why all along players, agents, lawyers, 315 00:15:03,200 --> 00:15:04,920 Speaker 1: et cetera, raising the hand and said we should get 316 00:15:04,920 --> 00:15:07,480 Speaker 1: a piece of that. So that's what's happened. My issue 317 00:15:07,560 --> 00:15:09,320 Speaker 1: is not the n I L. My issue is that 318 00:15:09,720 --> 00:15:13,720 Speaker 1: it happened with no structure, no guidelines, no rules. The 319 00:15:13,880 --> 00:15:15,760 Speaker 1: NT double A was nowhere to be found. And this 320 00:15:15,920 --> 00:15:19,040 Speaker 1: was fifteen months ago, all right, So so now the uh, 321 00:15:19,880 --> 00:15:24,800 Speaker 1: the college leadership, university leadership, and athletics. Who I know 322 00:15:24,880 --> 00:15:27,520 Speaker 1: a lot of those those people, they're smart, they're they're 323 00:15:27,520 --> 00:15:29,800 Speaker 1: they're sharp, they're on the toads. They care about the schools, 324 00:15:29,840 --> 00:15:33,600 Speaker 1: they care about the league's but they're not business people. 325 00:15:33,720 --> 00:15:37,160 Speaker 1: And by now, by now, at the fifteen months, something 326 00:15:37,240 --> 00:15:40,040 Speaker 1: should have come up here into some sort of structure, 327 00:15:40,160 --> 00:15:42,840 Speaker 1: some sort of guidelines, something. Now you're not going to 328 00:15:42,880 --> 00:15:44,880 Speaker 1: get the genie back in the bottle. That's you can't do. 329 00:15:44,960 --> 00:15:47,800 Speaker 1: That's not gonna happen. That's impossible, not gonna happen, But 330 00:15:47,920 --> 00:15:49,400 Speaker 1: there's gotta be a better way to be able to 331 00:15:49,480 --> 00:15:55,000 Speaker 1: have structure around and underneath. Uh, what's going on now 332 00:15:55,080 --> 00:15:57,160 Speaker 1: with regards the n I L as far as colleges go, 333 00:15:57,760 --> 00:15:59,920 Speaker 1: So you know, I mean like sports and football and partake, 334 00:16:00,320 --> 00:16:02,280 Speaker 1: it's all about commitment. I'm sure you'd agree. I Mean 335 00:16:02,560 --> 00:16:04,680 Speaker 1: my question for you is, can you let me know 336 00:16:04,800 --> 00:16:06,720 Speaker 1: your thoughts on the n C Double a's decision to 337 00:16:06,800 --> 00:16:09,640 Speaker 1: abandon the transfer rule? I mean, what is the impact 338 00:16:09,800 --> 00:16:13,080 Speaker 1: of allowing student athletes to transfer schools without losing the 339 00:16:13,120 --> 00:16:16,320 Speaker 1: year of eligibility into that end? Coaches as well, I mean, 340 00:16:16,400 --> 00:16:18,160 Speaker 1: it just seems like everyone's a free agent out there. 341 00:16:18,400 --> 00:16:20,280 Speaker 1: They were on the same side on this one. The 342 00:16:21,080 --> 00:16:24,400 Speaker 1: I think it was to me, you know, as a leader, 343 00:16:24,960 --> 00:16:27,120 Speaker 1: I consider it disgraceful that the n C Double A 344 00:16:27,320 --> 00:16:30,240 Speaker 1: was not involved to be involved with everything that was 345 00:16:30,280 --> 00:16:32,000 Speaker 1: going on here with regard to the n A L. 346 00:16:32,640 --> 00:16:35,840 Speaker 1: So to me that they very very much shirk their duties. 347 00:16:36,440 --> 00:16:38,480 Speaker 1: And again, if they were run by a business, everybody 348 00:16:38,480 --> 00:16:41,320 Speaker 1: there to be fired. Uh. Then a couple of months 349 00:16:41,400 --> 00:16:43,920 Speaker 1: later they get rid of the transfer rule. Now, getting 350 00:16:44,000 --> 00:16:47,040 Speaker 1: rid of the transfer rule, in effect, every player is 351 00:16:47,080 --> 00:16:49,760 Speaker 1: a free agent every day, and they could do what 352 00:16:49,840 --> 00:16:52,280 Speaker 1: they want. They could put themselves on the portal and 353 00:16:52,600 --> 00:16:56,400 Speaker 1: in effect be recruited even though technically they're not allowed 354 00:16:56,440 --> 00:16:59,440 Speaker 1: to see they may they use different terminology, they can 355 00:16:59,480 --> 00:17:02,480 Speaker 1: do certain things. But even though technically they're not allowed, 356 00:17:02,520 --> 00:17:05,560 Speaker 1: this is absolutely gonna happen where somebody's recruiting your kids 357 00:17:05,600 --> 00:17:07,840 Speaker 1: that they really want. And the PARA five school said, 358 00:17:07,880 --> 00:17:09,240 Speaker 1: you know, I'm pretty sure that we'll be able to 359 00:17:09,280 --> 00:17:11,760 Speaker 1: get to an I L deal for five grand. And 360 00:17:11,880 --> 00:17:14,320 Speaker 1: then the next school says, you know, he said, well, 361 00:17:14,359 --> 00:17:16,400 Speaker 1: Ohio State just can tell him I got five hundred grand, 362 00:17:16,560 --> 00:17:18,920 Speaker 1: and you CEL is gonna give me eight hundred. Then uh, 363 00:17:19,960 --> 00:17:22,080 Speaker 1: making Kentucky is going to give me a million too. 364 00:17:22,640 --> 00:17:25,639 Speaker 1: That can happen every day. So when you look at 365 00:17:25,640 --> 00:17:27,399 Speaker 1: the same things with the coaches, so to to to 366 00:17:27,920 --> 00:17:31,040 Speaker 1: reinforce the point that you're making Damien. Uh, you know, 367 00:17:31,640 --> 00:17:33,640 Speaker 1: a coach, let's say that has a five year contract 368 00:17:33,920 --> 00:17:37,760 Speaker 1: and has a really good first year, Um, he can 369 00:17:37,760 --> 00:17:40,280 Speaker 1: be poached away by a large school for much more 370 00:17:40,320 --> 00:17:43,199 Speaker 1: money because the G five doesn't have that money. FCS 371 00:17:43,320 --> 00:17:45,919 Speaker 1: doesn't have that money. So uh and and and all 372 00:17:46,000 --> 00:17:48,920 Speaker 1: the effort that was wanted. Paying a buyout to buy 373 00:17:49,000 --> 00:17:52,280 Speaker 1: out relative to what's going on is miniscule. So if 374 00:17:52,680 --> 00:17:55,200 Speaker 1: if the coach, if the school loses their coach after 375 00:17:55,280 --> 00:17:58,240 Speaker 1: one year, and they get a buy out for that, 376 00:17:58,720 --> 00:18:01,200 Speaker 1: that buyout is nothing. That coach can leave is making 377 00:18:01,280 --> 00:18:03,119 Speaker 1: more money. He's going to be able to hire an 378 00:18:03,160 --> 00:18:06,280 Speaker 1: assistance he wants for more money, and for all those 379 00:18:06,320 --> 00:18:08,359 Speaker 1: players that he wants to put themselves on the portal 380 00:18:08,400 --> 00:18:10,720 Speaker 1: and he can bring them with them. All right, So 381 00:18:11,119 --> 00:18:13,520 Speaker 1: what you've just done is you've devastated that the school 382 00:18:13,760 --> 00:18:16,639 Speaker 1: that you've left. You just devastated that school. Uh and 383 00:18:16,960 --> 00:18:20,560 Speaker 1: and so so therefore, when you look at the pros 384 00:18:20,640 --> 00:18:23,200 Speaker 1: and you look at the business board, a player that 385 00:18:23,280 --> 00:18:25,320 Speaker 1: signed a five year contract, it's a five year contract, 386 00:18:25,359 --> 00:18:27,000 Speaker 1: and you can cut them, but you still gotta pay him. 387 00:18:27,359 --> 00:18:29,399 Speaker 1: You can extend it if you want to, that's okay, 388 00:18:29,720 --> 00:18:31,239 Speaker 1: or you can let it, let it last, and then 389 00:18:31,280 --> 00:18:33,440 Speaker 1: he becomes a free agent. Uh. The same thing with 390 00:18:33,520 --> 00:18:35,520 Speaker 1: a coach, or same thing with an executive of the 391 00:18:35,560 --> 00:18:37,320 Speaker 1: business board. You got a five year deal. You got 392 00:18:37,440 --> 00:18:39,600 Speaker 1: a five year deal. That's it. You can't just pick 393 00:18:39,720 --> 00:18:41,440 Speaker 1: up and go someplace else. And nobody else is even 394 00:18:41,440 --> 00:18:43,560 Speaker 1: allowed to coach it. Now, you can become a free 395 00:18:43,560 --> 00:18:46,359 Speaker 1: agent after the deal, but that's it, okay, So in 396 00:18:46,520 --> 00:18:52,560 Speaker 1: college sports. In college sports, individual player has no responsibility 397 00:18:52,560 --> 00:18:55,680 Speaker 1: along those lines and can leave any time he wants 398 00:18:55,760 --> 00:18:58,760 Speaker 1: to because there's no transfer Number one. Number two with 399 00:18:58,920 --> 00:19:01,359 Speaker 1: regard to the coaches, that it's a disgrace. You've got 400 00:19:01,480 --> 00:19:02,680 Speaker 1: to be able to have You've got to have a 401 00:19:02,840 --> 00:19:05,680 Speaker 1: contract that just like any place else in the world, 402 00:19:05,800 --> 00:19:08,040 Speaker 1: you have to live up to the the the the 403 00:19:09,600 --> 00:19:12,800 Speaker 1: terms of that particular contract. Now, if the NFL will 404 00:19:12,880 --> 00:19:15,120 Speaker 1: run the way college is run right now, was brought 405 00:19:15,160 --> 00:19:17,159 Speaker 1: to the contracts and the buyouts as far as the 406 00:19:17,200 --> 00:19:19,960 Speaker 1: coaches goes, and with the free agency that that he's 407 00:19:19,960 --> 00:19:22,920 Speaker 1: just with the players. Uh, they wouldn't be allowed to exist. 408 00:19:23,000 --> 00:19:25,479 Speaker 1: I mean that exist, but they wouldn't do that. They 409 00:19:25,520 --> 00:19:27,040 Speaker 1: wouldn't do that. They don't do it that way. Now, 410 00:19:27,280 --> 00:19:29,480 Speaker 1: they wouldn't let themselves do it that way. A business 411 00:19:29,480 --> 00:19:32,040 Speaker 1: would never be run that way. So we got this 412 00:19:32,160 --> 00:19:36,560 Speaker 1: is this to me is uh, it's a mess. I 413 00:19:36,840 --> 00:19:40,040 Speaker 1: think you have foreshadow this next question I'm going to 414 00:19:40,160 --> 00:19:43,040 Speaker 1: ask you about n c double A President Mark Emmert's 415 00:19:43,359 --> 00:19:47,680 Speaker 1: planned departure by the end of June. What kind of 416 00:19:47,800 --> 00:19:50,760 Speaker 1: legacy do you think he has left for the n 417 00:19:50,840 --> 00:19:54,280 Speaker 1: C double A. I'm sure Mark has done a lot 418 00:19:54,320 --> 00:19:56,159 Speaker 1: of good things over the span of his tinure. But 419 00:19:56,640 --> 00:19:59,439 Speaker 1: then the most critical thing that's happened in history, how 420 00:19:59,520 --> 00:20:02,800 Speaker 1: college it's period period is n I L. And he 421 00:20:02,920 --> 00:20:05,920 Speaker 1: was nowhere to be found. I can't imagine a business 422 00:20:06,160 --> 00:20:09,800 Speaker 1: or a funk or something in the n NFL where 423 00:20:09,880 --> 00:20:12,399 Speaker 1: that would have been allowed by somebody in charge period. 424 00:20:12,480 --> 00:20:16,720 Speaker 1: So instead a year ago all when n I L happened. 425 00:20:16,880 --> 00:20:19,120 Speaker 1: A year ago, he got a contract e sension when 426 00:20:19,160 --> 00:20:21,879 Speaker 1: all of this was happening, and then this year they 427 00:20:22,000 --> 00:20:24,800 Speaker 1: decide jointly that it's time going to step down, but 428 00:20:25,000 --> 00:20:27,720 Speaker 1: he doesn't. But he's COTA, but he's he's going to 429 00:20:27,760 --> 00:20:29,920 Speaker 1: continue to be be I'm sure it'll be a lane 430 00:20:29,960 --> 00:20:33,320 Speaker 1: buck linked duck for the next uh few months. And 431 00:20:33,320 --> 00:20:35,080 Speaker 1: then he gets paid to two thousand and twenty three, 432 00:20:35,880 --> 00:20:39,480 Speaker 1: So he's being rewarded. That's like four million dollars a 433 00:20:39,520 --> 00:20:42,080 Speaker 1: year or whatever he's making, So he's being significally rewarded 434 00:20:43,600 --> 00:20:47,160 Speaker 1: for having not done his job. I have an issue 435 00:20:47,200 --> 00:20:48,879 Speaker 1: with that. As a plate. I have an issue with 436 00:20:48,920 --> 00:20:51,440 Speaker 1: that from a business perspective. So, Joe, what can the 437 00:20:51,520 --> 00:20:53,080 Speaker 1: n C double A do to make things better? How 438 00:20:53,160 --> 00:20:56,560 Speaker 1: can they rectify the situation? At this point, I think 439 00:20:56,600 --> 00:20:58,320 Speaker 1: the n C double have had their time. I think 440 00:20:58,359 --> 00:21:00,200 Speaker 1: they've had their chance and they blew it. So I 441 00:21:00,240 --> 00:21:03,280 Speaker 1: don't know why the leadership within college sports wants to 442 00:21:03,359 --> 00:21:06,520 Speaker 1: be able to just keep letting them run things. Uh. 443 00:21:07,040 --> 00:21:09,720 Speaker 1: You talked about anti trust a lot and UH, and 444 00:21:10,119 --> 00:21:14,280 Speaker 1: the reality is that, you know, competition in capitalism is 445 00:21:14,440 --> 00:21:19,160 Speaker 1: very very much appreciated. I think that the leadership begin 446 00:21:19,240 --> 00:21:22,280 Speaker 1: with the power five. The leadership in college sports today 447 00:21:22,840 --> 00:21:26,800 Speaker 1: should create their own organization. You can name it. You've 448 00:21:26,840 --> 00:21:33,360 Speaker 1: got the Confederation of U of College Sports, college Athletes, 449 00:21:33,800 --> 00:21:37,160 Speaker 1: college Athletics, the f c A. You put together your 450 00:21:37,160 --> 00:21:40,639 Speaker 1: own governing body, and you hire independent people that do 451 00:21:40,800 --> 00:21:43,600 Speaker 1: not have at first, that do not have an affiliation 452 00:21:43,680 --> 00:21:46,480 Speaker 1: with an integratal team or or league. They have the 453 00:21:46,600 --> 00:21:49,320 Speaker 1: skill sets required to be able to make real decisions 454 00:21:49,520 --> 00:21:50,879 Speaker 1: and more than any of the guts to do what 455 00:21:50,960 --> 00:21:53,640 Speaker 1: they believe is the right thing for college sports right now. 456 00:21:53,920 --> 00:21:57,920 Speaker 1: You hire them, but they're independent and they have real autonomy. 457 00:21:58,240 --> 00:22:00,960 Speaker 1: So when they make a decision, everybody in college sports 458 00:22:01,000 --> 00:22:04,359 Speaker 1: abides by that. If everybody's abiding by what what what 459 00:22:04,560 --> 00:22:08,080 Speaker 1: this executive committee decides every everything will start to work. 460 00:22:08,359 --> 00:22:10,840 Speaker 1: Everything will really start to work. Now, I'm not suggesting 461 00:22:10,840 --> 00:22:12,280 Speaker 1: to get rid of the N I L because that's 462 00:22:12,320 --> 00:22:15,159 Speaker 1: not gonna happen. But again, you can, you can provide 463 00:22:15,200 --> 00:22:18,840 Speaker 1: structure around that. Uh. And I think you'd be far 464 00:22:18,960 --> 00:22:20,879 Speaker 1: better served because of that. If you're going to run 465 00:22:20,960 --> 00:22:23,800 Speaker 1: a place like a business, then should the power five 466 00:22:23,960 --> 00:22:27,360 Speaker 1: even stay the power five? You have? If if they're 467 00:22:27,400 --> 00:22:29,359 Speaker 1: making the next amount of dollars now right now, the 468 00:22:29,840 --> 00:22:33,560 Speaker 1: Big ten is renegotiating the contracts of television, that's gonna 469 00:22:33,600 --> 00:22:36,360 Speaker 1: be a huge number. But if you took to Power 470 00:22:36,480 --> 00:22:38,560 Speaker 1: five and you divide them into two groups, let's say 471 00:22:38,680 --> 00:22:41,480 Speaker 1: one is the more for our purposes, you would have 472 00:22:41,560 --> 00:22:44,639 Speaker 1: named this but the more elite, elite programs in history, 473 00:22:45,080 --> 00:22:47,800 Speaker 1: and you know the other group, well, I bet you, 474 00:22:48,520 --> 00:22:50,359 Speaker 1: I said a little while ago. You see, the Big 475 00:22:50,400 --> 00:22:52,959 Speaker 1: ten probably makes seventy million dollars. I think three three 476 00:22:53,040 --> 00:22:54,960 Speaker 1: years from now, if you do something like this, I 477 00:22:55,040 --> 00:22:56,800 Speaker 1: think each of the schools in that elite group with 478 00:22:56,920 --> 00:22:58,840 Speaker 1: in the power of five probably a hundred forty million 479 00:22:58,880 --> 00:23:01,399 Speaker 1: dollars so, and then then they can decide how do 480 00:23:01,400 --> 00:23:03,320 Speaker 1: they want how do they want to transfer some of 481 00:23:03,440 --> 00:23:05,760 Speaker 1: the money down to G five if they want to, 482 00:23:05,960 --> 00:23:08,040 Speaker 1: or f c s if they want to, or even 483 00:23:08,080 --> 00:23:10,000 Speaker 1: tell the sports if they want to. They can make 484 00:23:10,040 --> 00:23:13,520 Speaker 1: all those decisions. But it's not working the way it's working, 485 00:23:14,080 --> 00:23:17,320 Speaker 1: Which brings me to a story I must ask about 486 00:23:17,880 --> 00:23:22,679 Speaker 1: involving my man and Dominicans to former Detroit Lions player. 487 00:23:23,200 --> 00:23:26,200 Speaker 1: I love that guy, Uh, and this was at the 488 00:23:26,280 --> 00:23:29,960 Speaker 1: time you were advising about then the number one overall pick, 489 00:23:30,040 --> 00:23:32,760 Speaker 1: at the time when he was on creating a budget 490 00:23:32,840 --> 00:23:37,639 Speaker 1: for his rookie contract. This is way back in. Please 491 00:23:38,200 --> 00:23:41,800 Speaker 1: lay some knowledge on us. What happened. Well, I spent 492 00:23:41,880 --> 00:23:44,000 Speaker 1: two years at Nebraska when he decided I want to 493 00:23:44,040 --> 00:23:46,440 Speaker 1: go back to football, and tom Osbolle was good enough 494 00:23:46,480 --> 00:23:48,360 Speaker 1: to have you spend the time with Bopolini and Bow 495 00:23:48,440 --> 00:23:50,159 Speaker 1: and I hit it off and he offered me that 496 00:23:50,200 --> 00:23:52,480 Speaker 1: opportunity to be with him. So for two years my 497 00:23:52,600 --> 00:23:55,159 Speaker 1: title was exactly advisor to the head football coach, but 498 00:23:55,240 --> 00:23:58,360 Speaker 1: I was there full time with the staff and Uh 499 00:23:58,400 --> 00:24:00,600 Speaker 1: and the guy's only him. The plays all knew what 500 00:24:00,800 --> 00:24:02,920 Speaker 1: my role had. Remember, I had just stepped down the 501 00:24:03,040 --> 00:24:06,119 Speaker 1: CEO when I was currently chairman, and they don't get 502 00:24:06,160 --> 00:24:07,359 Speaker 1: too much of that, you know, in the in the 503 00:24:07,400 --> 00:24:10,840 Speaker 1: football locker room. We're on campus, and they were aware 504 00:24:10,840 --> 00:24:13,719 Speaker 1: of that. And the Dominican, of course, was having an 505 00:24:13,760 --> 00:24:15,440 Speaker 1: incredible year and he knew he was going to be 506 00:24:15,480 --> 00:24:17,119 Speaker 1: a top PIC and he knew that the money is 507 00:24:17,119 --> 00:24:19,440 Speaker 1: going to be significant, and he had spent some time 508 00:24:19,520 --> 00:24:21,880 Speaker 1: talking to me about everybody wants a piece of him, 509 00:24:22,200 --> 00:24:23,920 Speaker 1: but there's going to be time when you know, he 510 00:24:24,080 --> 00:24:26,119 Speaker 1: really might need a little guidance and could he account 511 00:24:26,119 --> 00:24:28,240 Speaker 1: on me for that? And then secondly, and here's where 512 00:24:28,240 --> 00:24:31,560 Speaker 1: I thought he was very, very thoughtful and insightful. He said, 513 00:24:32,359 --> 00:24:35,600 Speaker 1: there were too many players in the NFL or NBA 514 00:24:35,760 --> 00:24:38,560 Speaker 1: for that matter, that you know, after they've left the league, 515 00:24:38,880 --> 00:24:40,879 Speaker 1: they don't have any of the money left. And I 516 00:24:40,960 --> 00:24:42,480 Speaker 1: really want to make sure I'm doing a good job 517 00:24:42,520 --> 00:24:45,360 Speaker 1: of saving and investing my money. So whenever I stepped down, 518 00:24:45,440 --> 00:24:47,400 Speaker 1: whether it's five years or ten years or fifteen years, 519 00:24:47,440 --> 00:24:49,880 Speaker 1: whatever it is, whenever I stepped down, I've really done 520 00:24:49,920 --> 00:24:52,080 Speaker 1: a good job investing my money. So I have enough 521 00:24:52,160 --> 00:24:54,000 Speaker 1: to live on so I don't have to worry about 522 00:24:54,000 --> 00:24:56,000 Speaker 1: it in the lifestyle that I wanted to me and 523 00:24:56,040 --> 00:24:57,800 Speaker 1: my family, et cetera. So I said, would be glad 524 00:24:57,840 --> 00:25:00,440 Speaker 1: help with that, and we talked about how taxes if things, 525 00:25:00,520 --> 00:25:02,520 Speaker 1: and we talked about different things and different things that 526 00:25:02,600 --> 00:25:04,959 Speaker 1: you think about. But then I also talked about how 527 00:25:05,000 --> 00:25:07,960 Speaker 1: critical it is. People really most times don't really know 528 00:25:08,760 --> 00:25:11,320 Speaker 1: what they're doing with the money. And I don't care 529 00:25:11,359 --> 00:25:12,760 Speaker 1: if you have a lot of money or I don't 530 00:25:12,760 --> 00:25:14,560 Speaker 1: try to have a little bit of money. I think 531 00:25:14,600 --> 00:25:16,879 Speaker 1: the budget is a very very wise thing to have. 532 00:25:17,520 --> 00:25:20,240 Speaker 1: At the very very least you recognize where you're spending money. 533 00:25:20,280 --> 00:25:23,119 Speaker 1: In certain cases, you may need it to allow to 534 00:25:24,160 --> 00:25:27,040 Speaker 1: limit yourself to spending in certain areas. In other areas 535 00:25:27,080 --> 00:25:29,600 Speaker 1: you're not necessarily limiting yourself, but you you at least 536 00:25:29,800 --> 00:25:31,880 Speaker 1: know where the money is being spent. I told him 537 00:25:31,880 --> 00:25:33,879 Speaker 1: bom Tan, I wanted him to put together a budget, 538 00:25:35,000 --> 00:25:36,720 Speaker 1: and but he had to come down to my office, 539 00:25:37,000 --> 00:25:38,840 Speaker 1: which is an Omaha, So he traveled the hour. He 540 00:25:38,920 --> 00:25:41,399 Speaker 1: shows up to the office warness suit, and I was 541 00:25:41,920 --> 00:25:44,040 Speaker 1: I was pleased with that, and he showed me his 542 00:25:44,080 --> 00:25:47,399 Speaker 1: budget and Buddy was like dollars and I thought that 543 00:25:47,560 --> 00:25:50,280 Speaker 1: was pretty good. I said, but with the money you're 544 00:25:50,280 --> 00:25:52,639 Speaker 1: going to be making, you're gonna make any astronomical amounts 545 00:25:52,640 --> 00:25:55,520 Speaker 1: of money, remember that half of it after taxes, what 546 00:25:55,600 --> 00:25:57,800 Speaker 1: you're gonna have. But with the people that you're going 547 00:25:57,840 --> 00:25:59,639 Speaker 1: to be involved with and people are gonna be traveling with, 548 00:25:59,720 --> 00:26:02,080 Speaker 1: and you buddies and your peers within the league, you know, 549 00:26:02,200 --> 00:26:03,800 Speaker 1: the lifestyle is gonna be very, very different from that. 550 00:26:04,240 --> 00:26:07,800 Speaker 1: So you really need to think more thoughtfully about how 551 00:26:07,920 --> 00:26:10,440 Speaker 1: you really would live two years from now, three years 552 00:26:10,440 --> 00:26:12,320 Speaker 1: from now, and you might want to redo the budget. 553 00:26:12,640 --> 00:26:13,879 Speaker 1: So he did. He came back to you know, it 554 00:26:13,960 --> 00:26:15,920 Speaker 1: was about a month later again in the suit. You know, 555 00:26:16,000 --> 00:26:17,520 Speaker 1: with the budget, I think it was around two and 556 00:26:17,640 --> 00:26:20,080 Speaker 1: twenty dollars, don't remember exactly what it was. But he 557 00:26:20,200 --> 00:26:22,840 Speaker 1: and I have stayed friends and we have you know, 558 00:26:23,000 --> 00:26:25,399 Speaker 1: we have done a lot of things together and some 559 00:26:25,520 --> 00:26:27,640 Speaker 1: of the businesses that I'm involved with, I have introduced 560 00:26:27,680 --> 00:26:31,359 Speaker 1: him to all those guys. And he's's very very thoughtful guy, 561 00:26:32,000 --> 00:26:34,520 Speaker 1: and he's a smart guy. He's an engineer by trades 562 00:26:34,640 --> 00:26:36,840 Speaker 1: in the real estate business in terms of the construction 563 00:26:37,119 --> 00:26:40,040 Speaker 1: with regard to his family. Uh, and so so you know, 564 00:26:40,240 --> 00:26:43,800 Speaker 1: we have been in regular contact over the years, and Joe, 565 00:26:43,800 --> 00:26:45,399 Speaker 1: I'd like to ask you a little bit about the 566 00:26:46,359 --> 00:26:50,000 Speaker 1: trending sports gambling. Excuse me. Eighty seven billion dollars eighty 567 00:26:50,040 --> 00:26:52,600 Speaker 1: seven billion dollars in legalized sports gambling expected in the 568 00:26:52,680 --> 00:26:54,879 Speaker 1: year two here in the United States. That is a 569 00:26:54,960 --> 00:26:57,600 Speaker 1: big number. That is a number that is larger than 570 00:26:57,720 --> 00:27:01,760 Speaker 1: the than the Sultan of them on. So for me, 571 00:27:02,040 --> 00:27:04,320 Speaker 1: you know, my question to you is, you know, what's 572 00:27:04,320 --> 00:27:06,240 Speaker 1: your thoughts on it? How do you think that's impacting 573 00:27:06,280 --> 00:27:08,200 Speaker 1: college sports? How do you think that's impacting all that 574 00:27:08,240 --> 00:27:10,720 Speaker 1: we've been talking about with n i L and player 575 00:27:10,840 --> 00:27:12,400 Speaker 1: rights and what have you. I mean, do you think 576 00:27:12,520 --> 00:27:14,639 Speaker 1: it's a good thing or do you think this is 577 00:27:14,720 --> 00:27:18,560 Speaker 1: a real risk going forward? Alright, so I think again, 578 00:27:18,640 --> 00:27:20,560 Speaker 1: I remember when we're talking about the n i L. 579 00:27:20,600 --> 00:27:22,600 Speaker 1: Initially I said, as a business guy, I can see 580 00:27:22,640 --> 00:27:25,160 Speaker 1: the money, and I can see why that money needs 581 00:27:25,200 --> 00:27:27,840 Speaker 1: to be better distributed. Okay, So with regards to gambling, 582 00:27:28,320 --> 00:27:31,080 Speaker 1: you know, the common sense part of me says, people 583 00:27:31,080 --> 00:27:33,280 Speaker 1: are going to gamble, whether it's legal or not. Isn't 584 00:27:33,280 --> 00:27:36,080 Speaker 1: going to gamble. So if I'm running a state, you know, 585 00:27:36,119 --> 00:27:38,320 Speaker 1: I would rather get my taxes. I would rather, I 586 00:27:38,560 --> 00:27:41,000 Speaker 1: can significantly help increase my own balance sheet to my 587 00:27:41,080 --> 00:27:43,960 Speaker 1: budget by by having that all that tax So I 588 00:27:44,000 --> 00:27:46,399 Speaker 1: would rather, I think it's wiser to have all that 589 00:27:46,560 --> 00:27:49,560 Speaker 1: legalized than not hear it, because you're gonna happen anyway, 590 00:27:49,680 --> 00:27:51,520 Speaker 1: so you may as well legalize it, and then you 591 00:27:51,600 --> 00:27:53,920 Speaker 1: have it again. Then you're gonna have some structure around it. 592 00:27:54,240 --> 00:27:56,440 Speaker 1: Number one, number two, and you talk about what we've 593 00:27:56,480 --> 00:27:58,520 Speaker 1: got to the and a yellow the impact can have 594 00:27:58,600 --> 00:28:02,240 Speaker 1: on players. Uh so people are betting on games now. 595 00:28:02,720 --> 00:28:06,480 Speaker 1: So if somebody wants to buy a player to cheat, 596 00:28:07,119 --> 00:28:09,600 Speaker 1: buy a player to uh not give it his very 597 00:28:09,680 --> 00:28:12,119 Speaker 1: very best in the game, or uh he does it 598 00:28:12,240 --> 00:28:15,040 Speaker 1: in and set the past he's supposed to. He throws 599 00:28:15,080 --> 00:28:18,359 Speaker 1: the ball, you know he's not quite on target that 600 00:28:18,440 --> 00:28:21,440 Speaker 1: particular day, whatever it might he fumbles and running whatever 601 00:28:21,440 --> 00:28:24,000 Speaker 1: it might be. Well, that's not now cheating, it's not 602 00:28:24,119 --> 00:28:28,040 Speaker 1: not cheating. And so but you can't legislate that. In 603 00:28:28,119 --> 00:28:30,520 Speaker 1: other words, we know what's wrong. And I think you 604 00:28:30,560 --> 00:28:33,680 Speaker 1: know a real a real man, a real leader, a 605 00:28:33,760 --> 00:28:36,520 Speaker 1: real woman that that need to have the guts to 606 00:28:36,520 --> 00:28:38,000 Speaker 1: do what you believe is the right thing. And you 607 00:28:38,080 --> 00:28:41,920 Speaker 1: can't legislate ethics. So if people are gonna cheat, that 608 00:28:42,040 --> 00:28:44,320 Speaker 1: people are gonna cheat, and there is a tremendous amount 609 00:28:44,320 --> 00:28:46,040 Speaker 1: of money involved, but you know what, there was already 610 00:28:46,040 --> 00:28:48,680 Speaker 1: a tremendous amount of money involved. And remember we're talking 611 00:28:48,680 --> 00:28:50,640 Speaker 1: about the gamblers. Now, that's what you're talking about. So 612 00:28:50,720 --> 00:28:52,280 Speaker 1: if I'm a gambler and I want to bet a 613 00:28:52,360 --> 00:28:54,680 Speaker 1: hundred dollars, okay, that's one thing. If I want to 614 00:28:54,760 --> 00:28:58,280 Speaker 1: bet five hundred thousand dollars. If i want to bet 615 00:28:58,320 --> 00:29:01,320 Speaker 1: a million dollars, and I'm willing to make an investment 616 00:29:01,560 --> 00:29:04,880 Speaker 1: to n I l uh in a in a particular 617 00:29:04,960 --> 00:29:07,880 Speaker 1: player for him to do what I need him to 618 00:29:07,960 --> 00:29:11,800 Speaker 1: do at certain games, well, what I'm doing is unethical. 619 00:29:12,000 --> 00:29:16,240 Speaker 1: It's illegal. That's wrong, and it's unethical. It's illegal. It 620 00:29:16,280 --> 00:29:18,800 Speaker 1: is wrong for that individual player. But those things can 621 00:29:18,920 --> 00:29:22,080 Speaker 1: exist right now, right now, those are those are those 622 00:29:22,080 --> 00:29:26,440 Speaker 1: are wrong things. But legalizing legalizing gambling, I don't think 623 00:29:26,840 --> 00:29:29,920 Speaker 1: UH encourages that anymore. That what might be the case today. 624 00:29:30,000 --> 00:29:32,720 Speaker 1: And I hope whatever it takes place today, I really 625 00:29:32,800 --> 00:29:36,080 Speaker 1: truly hope it's minimal, and I believe it is. But 626 00:29:36,240 --> 00:29:38,280 Speaker 1: to think there's none of that going on, I think 627 00:29:38,320 --> 00:29:41,760 Speaker 1: that's probably naive. I'm going to spill the beans a 628 00:29:41,840 --> 00:29:44,600 Speaker 1: little bit. You are currently writing a book right now 629 00:29:44,840 --> 00:29:47,440 Speaker 1: on leadership. How is that going? Can you tell us 630 00:29:47,520 --> 00:29:50,400 Speaker 1: more about that? It's going well? I think so many 631 00:29:50,480 --> 00:29:54,120 Speaker 1: other things kind of going on that, uh that we've 632 00:29:54,160 --> 00:29:55,880 Speaker 1: we've kind of held up, held off on it a 633 00:29:55,960 --> 00:29:58,840 Speaker 1: little bit. Our agents working now to talk them to 634 00:29:58,960 --> 00:30:00,880 Speaker 1: two different people to see who really want to buy 635 00:30:00,880 --> 00:30:04,520 Speaker 1: it and do it. And we're probably about through the 636 00:30:04,600 --> 00:30:06,360 Speaker 1: book and as soon as you get to go ahead, 637 00:30:06,400 --> 00:30:08,200 Speaker 1: I think would probably be able to get our part 638 00:30:08,280 --> 00:30:11,400 Speaker 1: finished about three months and hopefully it gets published next year. 639 00:30:11,960 --> 00:30:14,000 Speaker 1: Last question for me, Who's gonna win the Super Bowl 640 00:30:14,040 --> 00:30:16,720 Speaker 1: this year? Do you like? I think if Brady comes 641 00:30:16,800 --> 00:30:18,680 Speaker 1: back to the Bay is gonna win it. And if 642 00:30:18,720 --> 00:30:20,680 Speaker 1: he doesn't come back, I think Green Bay's gonna win it. 643 00:30:20,760 --> 00:30:22,800 Speaker 1: But the realities, I really don't know who's gonna win it. 644 00:30:23,560 --> 00:30:27,800 Speaker 1: He's selling the bills. He heard it from you. This 645 00:30:28,040 --> 00:30:33,320 Speaker 1: question involves a lot about you as a person, UH 646 00:30:33,520 --> 00:30:37,719 Speaker 1: and and your thoughts uh during your lifetime. It kind 647 00:30:37,760 --> 00:30:40,480 Speaker 1: of goes back full circle to the first question that 648 00:30:40,720 --> 00:30:44,160 Speaker 1: was asked to you. If there's anything that you would 649 00:30:44,280 --> 00:30:48,120 Speaker 1: want to do over again? What would you do in 650 00:30:48,200 --> 00:30:51,240 Speaker 1: your professional life? You know, I think coach estimation very 651 00:30:51,280 --> 00:30:54,440 Speaker 1: critical calls during your game and hopefully the coach has 652 00:30:54,440 --> 00:30:56,720 Speaker 1: done a good job like that sprint assessing the wrist 653 00:30:56,800 --> 00:30:59,120 Speaker 1: reward when you're supposed to go for two not to 654 00:30:59,200 --> 00:31:01,840 Speaker 1: me by tart, When are you really supposed to do that? 655 00:31:01,880 --> 00:31:03,720 Speaker 1: When you're supposed to go for a fourth, town, etceter 656 00:31:03,720 --> 00:31:05,960 Speaker 1: each other, and a real critical decision. We are you 657 00:31:06,080 --> 00:31:08,400 Speaker 1: gonna fake what real critical decision's gonna make during the 658 00:31:08,440 --> 00:31:10,600 Speaker 1: course of the game that if you failed potentially could 659 00:31:10,680 --> 00:31:12,880 Speaker 1: could have a negative impact of the outcome of the game. 660 00:31:13,160 --> 00:31:15,440 Speaker 1: And you're gonna have everybody complaining to you on Monday morning. 661 00:31:15,840 --> 00:31:18,000 Speaker 1: Well that's after the fact. And I think one of 662 00:31:18,040 --> 00:31:22,600 Speaker 1: the things that my leadership philosophy is, Uh, by the way, 663 00:31:22,720 --> 00:31:26,120 Speaker 1: when I was coaching at a coastal um, we were 664 00:31:26,160 --> 00:31:28,720 Speaker 1: the only team in the country that didn't have any rules. Literally, 665 00:31:28,720 --> 00:31:31,440 Speaker 1: you had no rules. We had a standard, uh standard 666 00:31:31,480 --> 00:31:35,080 Speaker 1: on your own two feet, take responsibility for yourself, treat others. 667 00:31:35,160 --> 00:31:37,160 Speaker 1: We big me respect and live with the consequence you're 668 00:31:37,160 --> 00:31:40,200 Speaker 1: acts now. Uh that hole that held up to me 669 00:31:41,520 --> 00:31:43,360 Speaker 1: the first time around as a coach held up for 670 00:31:43,440 --> 00:31:45,640 Speaker 1: me is the standard that he used the entire time 671 00:31:45,680 --> 00:31:47,680 Speaker 1: I was on Wall Street as the base upon which 672 00:31:47,680 --> 00:31:50,120 Speaker 1: coach Caroline Football has been built. Now because I had 673 00:31:50,120 --> 00:31:53,040 Speaker 1: a hundred forty guys, we call that band being man, 674 00:31:53,440 --> 00:31:55,480 Speaker 1: but it's not sexist at all. My daughters were raised 675 00:31:55,520 --> 00:31:57,520 Speaker 1: on that and that's the same standard female executive and 676 00:31:57,560 --> 00:32:00,240 Speaker 1: held to with me in the business world. But the 677 00:32:00,480 --> 00:32:04,560 Speaker 1: guys being worked and uh so, so what when when 678 00:32:04,600 --> 00:32:07,920 Speaker 1: you think about that? One of the things that that 679 00:32:08,320 --> 00:32:11,040 Speaker 1: is critical. I think ultimately we want to be happy, 680 00:32:11,080 --> 00:32:12,960 Speaker 1: we want feel good about who we are, which means 681 00:32:13,000 --> 00:32:15,160 Speaker 1: we've got to make good decisions under pressure. And to 682 00:32:15,240 --> 00:32:17,440 Speaker 1: be able to do that, you really have to understand 683 00:32:17,480 --> 00:32:19,720 Speaker 1: who you want. Most people really don't. We tend to 684 00:32:19,800 --> 00:32:22,520 Speaker 1: be a compositive old people around us, so I call 685 00:32:22,600 --> 00:32:25,000 Speaker 1: the spiritual sadness. Doesn't have to be religious, but it 686 00:32:25,080 --> 00:32:27,880 Speaker 1: can be. But it's really understanding exactly who you are. 687 00:32:27,960 --> 00:32:29,800 Speaker 1: So when it's time to be able make tough decisions, 688 00:32:30,000 --> 00:32:31,840 Speaker 1: you increase the probability going to be able to do that. 689 00:32:32,360 --> 00:32:34,720 Speaker 1: I have approached my life like that for the last 690 00:32:34,760 --> 00:32:36,600 Speaker 1: five decades, from the time I was twenty one and 691 00:32:36,680 --> 00:32:39,280 Speaker 1: start to think this way and it's very very much 692 00:32:39,320 --> 00:32:41,600 Speaker 1: part of me today and it's something that I teach 693 00:32:43,320 --> 00:32:47,040 Speaker 1: and share these concepts with, you know, people around it 694 00:32:47,680 --> 00:32:49,960 Speaker 1: be dooning that for a while. So the decisions I 695 00:32:50,040 --> 00:32:52,680 Speaker 1: have made in the past. I became a teenage father 696 00:32:52,800 --> 00:32:56,720 Speaker 1: and I didn't like that decision consciously, But the h 697 00:32:57,120 --> 00:32:59,920 Speaker 1: the decisions I've made in the past were decisions that 698 00:33:00,080 --> 00:33:03,080 Speaker 1: that moment in time I really assessed, I really thought about. 699 00:33:03,120 --> 00:33:05,560 Speaker 1: I really believe it's the right thing to do, and 700 00:33:05,760 --> 00:33:08,560 Speaker 1: hindsight what I've changed it. But I say that today 701 00:33:09,040 --> 00:33:11,560 Speaker 1: with a benefit of X amount of years experience after that, 702 00:33:12,000 --> 00:33:14,040 Speaker 1: that wasn't the situation I was in at that moment 703 00:33:14,120 --> 00:33:16,719 Speaker 1: of time. So when I look back on my life, UH, 704 00:33:16,800 --> 00:33:19,280 Speaker 1: and I considered that I'm proud of who I am. 705 00:33:19,320 --> 00:33:22,000 Speaker 1: From a personal perspective, I'm really proud of love to 706 00:33:22,080 --> 00:33:25,040 Speaker 1: feel great about my family. I feel great about my 707 00:33:25,160 --> 00:33:28,240 Speaker 1: loved ones and friends around me. I've had two careers 708 00:33:28,760 --> 00:33:32,120 Speaker 1: that I've really been pretty good at. Uh. Most people 709 00:33:32,200 --> 00:33:34,720 Speaker 1: don't have one, and they were two careers that I 710 00:33:34,840 --> 00:33:37,840 Speaker 1: was really intensely passionate about. Well, how many people be 711 00:33:37,920 --> 00:33:39,920 Speaker 1: able to have something like that? Is? How many people 712 00:33:40,280 --> 00:33:43,960 Speaker 1: have done what I've just said. Sol a former chairman 713 00:33:44,080 --> 00:33:47,200 Speaker 1: of the board and CEO of t D and Merrit Trade, 714 00:33:47,520 --> 00:33:51,920 Speaker 1: also a former head football coach at Coastal Carolina University. 715 00:33:52,400 --> 00:33:55,360 Speaker 1: You laid some knowledge on us, Van. Thank you so much, Joe. 716 00:33:55,440 --> 00:33:59,160 Speaker 1: We really do appreciate it. Mike, I appreciate you having me. Damon, 717 00:33:59,160 --> 00:34:01,840 Speaker 1: I appreciate you. Be and on with me. Take care now, 718 00:34:02,680 --> 00:34:07,200 Speaker 1: Joe Mowglier. He is has a knowledge full of pretty 719 00:34:07,400 --> 00:34:11,040 Speaker 1: much everything. I could bet you we could sit down 720 00:34:11,320 --> 00:34:14,120 Speaker 1: for a good three hours and just talk about life 721 00:34:14,200 --> 00:34:16,680 Speaker 1: in general. Damien. He spent a lot of time obviously 722 00:34:16,719 --> 00:34:18,719 Speaker 1: in New England, hence the reason he's a Tom Brady fan, 723 00:34:18,800 --> 00:34:21,200 Speaker 1: I guess. But now, I mean, look for me. He's unbelievable. 724 00:34:21,239 --> 00:34:23,080 Speaker 1: I mean, truthfully, I mean some of his experience is 725 00:34:23,120 --> 00:34:26,360 Speaker 1: certainly working with guys like Tom Osborne in Nebraska, and 726 00:34:26,640 --> 00:34:28,880 Speaker 1: then obviously you know his time at t D, Amitrede 727 00:34:28,920 --> 00:34:31,000 Speaker 1: and Merrill Lynch. I mean, twenty years in the business. 728 00:34:31,040 --> 00:34:33,360 Speaker 1: I mean it's it's it's a rarity to find somebody 729 00:34:33,440 --> 00:34:36,680 Speaker 1: like that. Yeah, and his story about in Dominican sue, 730 00:34:37,160 --> 00:34:39,400 Speaker 1: which I'm a again, I'm a big fan as a 731 00:34:39,480 --> 00:34:42,440 Speaker 1: Detroit LANs fan, and when I'm out yelling at the 732 00:34:42,560 --> 00:34:45,719 Speaker 1: TV said no and dom go, don't stomp on his head. 733 00:34:46,440 --> 00:34:50,400 Speaker 1: He is a great football player and you see that 734 00:34:50,640 --> 00:34:54,920 Speaker 1: from his investments that he has made later on in life. Uh, 735 00:34:55,480 --> 00:34:58,279 Speaker 1: just a brilliant man. And I salute him. Yeah, no, 736 00:34:58,440 --> 00:35:00,400 Speaker 1: and absolutely, And he's he's doing a for the students. 737 00:35:00,440 --> 00:35:02,000 Speaker 1: He's doing it for the kids. I mean his wealth advised. 738 00:35:02,120 --> 00:35:04,080 Speaker 1: You know, that's what they focus on, you know, preparing 739 00:35:04,200 --> 00:35:06,680 Speaker 1: student athletes for the real world. And so you know, 740 00:35:06,760 --> 00:35:08,800 Speaker 1: kudas to him for you know, giving back at this 741 00:35:08,880 --> 00:35:13,440 Speaker 1: time in his career. Hey, you haven't been introduced to 742 00:35:13,560 --> 00:35:19,400 Speaker 1: this part of the show. Kids. Better to be the 743 00:35:19,600 --> 00:35:21,680 Speaker 1: one than number five. I'll wear a number because of Mike. 744 00:35:21,800 --> 00:35:23,279 Speaker 1: We have a chance to go for three and a row. 745 00:35:23,360 --> 00:35:25,279 Speaker 1: Good numbers are a good time. When I first started 746 00:35:25,320 --> 00:35:27,239 Speaker 1: wearing the number, how we just have the and proud 747 00:35:27,320 --> 00:35:32,000 Speaker 1: bloom bird business of sports. The number of the week? Yes, 748 00:35:32,200 --> 00:35:35,560 Speaker 1: what time it is? It's time for the number of 749 00:35:35,760 --> 00:35:39,560 Speaker 1: the week. And uh, let's let's put it this way. 750 00:35:39,680 --> 00:35:42,560 Speaker 1: We we like to do it in the prices right style. 751 00:35:42,960 --> 00:35:46,360 Speaker 1: So let's pretend you're on the stage right now. Okay, 752 00:35:46,480 --> 00:35:49,759 Speaker 1: you're on the stage and uh we're playing the quick 753 00:35:49,960 --> 00:35:55,919 Speaker 1: range game. Okay, And here's my question. In the XFL 754 00:35:56,400 --> 00:36:01,640 Speaker 1: currently right now, what is the average pay of the 755 00:36:02,320 --> 00:36:09,040 Speaker 1: regular XFL player annually? Oh, I would say seven fifty dollars. 756 00:36:09,120 --> 00:36:12,000 Speaker 1: It's just a guess, seven fifty thou dollars per year 757 00:36:12,239 --> 00:36:15,719 Speaker 1: per year for the average XFL on average. Why it's 758 00:36:15,719 --> 00:36:18,160 Speaker 1: got to be more. You're looking at me like, yeah, yeah, 759 00:36:21,640 --> 00:36:27,080 Speaker 1: two and a half. Uh. The average salary according to 760 00:36:27,520 --> 00:36:34,879 Speaker 1: uh different sites, roughly fifty five thousand dollars. Yeah. God, 761 00:36:34,920 --> 00:36:37,000 Speaker 1: these guys are at the killing themselves. Yeah. Man, and 762 00:36:37,400 --> 00:36:40,240 Speaker 1: your range, Man, it just flew off the day board. 763 00:36:40,239 --> 00:36:42,160 Speaker 1: I thought I was undercutting that. I mean I thought 764 00:36:42,200 --> 00:36:44,239 Speaker 1: it was prices, right. You can't go over well you 765 00:36:44,800 --> 00:36:48,320 Speaker 1: you hit Drew Carey with the whole set. Man, the 766 00:36:48,520 --> 00:36:52,000 Speaker 1: range game is like, you know, they're carting you off. Man. 767 00:36:53,680 --> 00:36:57,120 Speaker 1: I'm glad I'm not in the XFL that man. We 768 00:36:57,200 --> 00:36:58,920 Speaker 1: had a lot of fun with you, Damian, thank you 769 00:36:59,040 --> 00:37:01,560 Speaker 1: so much. Thanks for and Regic could come on here. Ah, 770 00:37:01,680 --> 00:37:04,319 Speaker 1: this is the Bloomberg Business of Sports show. We're here 771 00:37:04,440 --> 00:37:07,240 Speaker 1: each and every week at the same time, plus online 772 00:37:07,280 --> 00:37:09,800 Speaker 1: wherever you get your podcast, you can catch those Monday's, 773 00:37:09,840 --> 00:37:13,520 Speaker 1: Wednesdays and Thursdays along with Damien Sassaur. I'm Michael Barr. 774 00:37:13,560 --> 00:37:17,240 Speaker 1: You can follow me on Twitter at Big Bar Sports. Damien, 775 00:37:17,480 --> 00:37:20,160 Speaker 1: can you give us your handles? It's Damien sass Hour 776 00:37:20,320 --> 00:37:23,200 Speaker 1: at the Sass Hour on Twitter. Thanks for joining us. 777 00:37:23,239 --> 00:37:26,520 Speaker 1: Tuning it again next week for the latest all stories 778 00:37:26,600 --> 00:37:28,920 Speaker 1: moving big money in the world of sports. You're listening 779 00:37:28,960 --> 00:37:32,480 Speaker 1: to Bloomberg Business of Sports and they're Brady round the world.