1 00:00:02,560 --> 00:00:05,240 Speaker 1: Hello, I'm Scott Sash and I'm Evan Nobie Williams. This 2 00:00:05,320 --> 00:00:07,960 Speaker 1: is the Bloomberg Business of Sports podcast, where we explore 3 00:00:08,000 --> 00:00:10,480 Speaker 1: the big money issues in the world of sports. Michael 4 00:00:10,520 --> 00:00:14,360 Speaker 1: Barr is out today, but that does not stop us. Today, Evan, 5 00:00:14,440 --> 00:00:17,480 Speaker 1: we begin with the Olympics, the big topic. I mean, 6 00:00:17,480 --> 00:00:20,599 Speaker 1: they're over. We know that. How much did you watch? 7 00:00:20,880 --> 00:00:22,720 Speaker 1: I watched a lot. I would think that this is 8 00:00:22,680 --> 00:00:25,200 Speaker 1: good because we're in opposite sca. I didn't watch a 9 00:00:25,200 --> 00:00:27,680 Speaker 1: lot in the Olympic watching population. I would say, I'm 10 00:00:27,880 --> 00:00:32,040 Speaker 1: top knew you were into curling, into curling. I knew 11 00:00:32,040 --> 00:00:35,280 Speaker 1: you'd watch that. You probably watched some hockey women's most 12 00:00:35,280 --> 00:00:37,120 Speaker 1: of the hockey stand up for both the final games 13 00:00:37,640 --> 00:00:40,360 Speaker 1: both ended in the in the two o'clock am range 14 00:00:40,400 --> 00:00:42,080 Speaker 1: here on the East Coast. You're not bothered by the 15 00:00:42,120 --> 00:00:44,680 Speaker 1: tape delay stuff. I don't. I don't watch much of 16 00:00:44,680 --> 00:00:46,559 Speaker 1: the tape delay stuff. Okay, so if you know the 17 00:00:46,600 --> 00:00:49,360 Speaker 1: result that yourself at eight o'clock, if the games were 18 00:00:49,400 --> 00:00:51,640 Speaker 1: interesting curling matches or hockey matches that went late in 19 00:00:51,680 --> 00:00:53,760 Speaker 1: the night, I would watch those as well. Um, it 20 00:00:53,800 --> 00:00:56,600 Speaker 1: looks like you're more of the majority than I. Am 21 00:00:56,600 --> 00:00:58,600 Speaker 1: if I look at the ratings, Uh, they went down 22 00:00:58,640 --> 00:01:00,640 Speaker 1: about ten percent. This is gonna be the the least 23 00:01:00,640 --> 00:01:04,560 Speaker 1: watched Olympic Games ever. I believe um NBC is in 24 00:01:04,560 --> 00:01:07,840 Speaker 1: the middle of a twelve billion dollar contract that spans 25 00:01:07,840 --> 00:01:10,959 Speaker 1: ten Olympics. Are you happy if your NBC with with 26 00:01:11,040 --> 00:01:12,960 Speaker 1: the results you saw, Well, you sold a whole lot 27 00:01:12,959 --> 00:01:16,520 Speaker 1: of ads, you got amounts come out of ads, you 28 00:01:16,680 --> 00:01:20,480 Speaker 1: got to promote your prime time lineup. You've got people 29 00:01:20,560 --> 00:01:22,720 Speaker 1: even more used to some of your other properties because 30 00:01:22,760 --> 00:01:25,080 Speaker 1: things were on NBCs and you've got to move it around. 31 00:01:25,720 --> 00:01:29,280 Speaker 1: So you're probably happy, especially when the narrative the entire 32 00:01:29,560 --> 00:01:32,880 Speaker 1: let's say NFL season for lack of a better term, 33 00:01:33,480 --> 00:01:37,320 Speaker 1: has been everything's down. Everything across TV is down. So 34 00:01:38,360 --> 00:01:42,200 Speaker 1: you'd have to be somewhat surprised if you learned that 35 00:01:42,280 --> 00:01:45,479 Speaker 1: the executives NBC mark Lazarus and the Boys and the Ladies, 36 00:01:46,160 --> 00:01:49,080 Speaker 1: We're thinking this was gonna go up, especially with the 37 00:01:49,120 --> 00:01:51,160 Speaker 1: location and the time change. And if you look at 38 00:01:51,160 --> 00:01:53,680 Speaker 1: the projections they put out before the games, they beat 39 00:01:53,720 --> 00:01:55,640 Speaker 1: those projections and a lot of people felt like those 40 00:01:55,640 --> 00:01:58,160 Speaker 1: were totally low bald, but they did come in ahead, 41 00:01:58,400 --> 00:02:01,080 Speaker 1: and that's given some strong head is right. The United 42 00:02:01,080 --> 00:02:03,720 Speaker 1: States team didn't do all that well from an overall 43 00:02:03,720 --> 00:02:06,680 Speaker 1: medal count, which is critical for NBC. Uh and there 44 00:02:06,720 --> 00:02:09,400 Speaker 1: was no NHL players in the hockey men's hockey portion, 45 00:02:09,880 --> 00:02:13,960 Speaker 1: which is around jewel of the NBC found it compelling 46 00:02:14,919 --> 00:02:19,680 Speaker 1: when the USA was playing four quarterfinals they lost to Germany. 47 00:02:19,720 --> 00:02:22,000 Speaker 1: But I actually found a compelling parts we did watch 48 00:02:22,600 --> 00:02:26,520 Speaker 1: when Germany beat Canada and then they were close with 49 00:02:26,720 --> 00:02:31,480 Speaker 1: the Olympic athletes from Russia, that that that was compelling TV. Sure, 50 00:02:31,639 --> 00:02:33,560 Speaker 1: but that you're a hockey fan, right. I think for 51 00:02:33,560 --> 00:02:36,040 Speaker 1: for the majority of the TV watching population, the ones 52 00:02:36,160 --> 00:02:40,919 Speaker 1: NBC cares about Germany upsetting Canada in the semifinals doesn't 53 00:02:40,919 --> 00:02:43,520 Speaker 1: do as well as in the United States team packed 54 00:02:43,560 --> 00:02:45,880 Speaker 1: with NHL all stars that's going to make it to 55 00:02:45,880 --> 00:02:48,600 Speaker 1: the to the gold medal game every year. So big winner. 56 00:02:48,919 --> 00:02:51,280 Speaker 1: And I think, as someone who didn't watch a lot, 57 00:02:51,760 --> 00:02:56,280 Speaker 1: I had to see what To me, I don't think 58 00:02:56,280 --> 00:03:00,480 Speaker 1: it's even close. And this is funny because this wasn't 59 00:03:00,560 --> 00:03:03,840 Speaker 1: a matter of winning gold medals. The people who were 60 00:03:03,840 --> 00:03:06,720 Speaker 1: the big winners didn't seem to walk away with the 61 00:03:06,840 --> 00:03:11,440 Speaker 1: big metal hall. But to me, it's Adam Rippon, because 62 00:03:11,480 --> 00:03:13,640 Speaker 1: can we get Adam Rippon a sponsorship from I mean, 63 00:03:13,800 --> 00:03:15,840 Speaker 1: I gotta do for this game. He was practically begging 64 00:03:15,840 --> 00:03:18,080 Speaker 1: sponsors like I don't even care about what it is. 65 00:03:18,120 --> 00:03:21,600 Speaker 1: I just like money. But honest, yeah, he's on. I 66 00:03:21,800 --> 00:03:24,919 Speaker 1: like it. He's refreshing and it's just like I know 67 00:03:25,000 --> 00:03:28,360 Speaker 1: who he is and whether it was the controversy with 68 00:03:28,400 --> 00:03:31,480 Speaker 1: the vice president, but he got a lot of air 69 00:03:31,600 --> 00:03:36,320 Speaker 1: time away from his discipline. It wasn't just with him skating. 70 00:03:36,680 --> 00:03:39,280 Speaker 1: Then he was the studio host. Then he was on 71 00:03:39,320 --> 00:03:42,560 Speaker 1: the Access Hollywood, he was on the news. The the 72 00:03:42,640 --> 00:03:46,360 Speaker 1: guy was om the present throughout the games, and he's 73 00:03:46,400 --> 00:03:48,560 Speaker 1: the name that sticks in my head. It's kind of 74 00:03:48,560 --> 00:03:51,160 Speaker 1: like the Apollo anton On no approach right where where 75 00:03:51,160 --> 00:03:53,400 Speaker 1: it might not work as well as expected on the 76 00:03:53,440 --> 00:03:56,680 Speaker 1: ice itself, but if you can make the rounds back 77 00:03:56,680 --> 00:03:59,480 Speaker 1: on TV, if you can get on so you think 78 00:03:59,520 --> 00:04:01,720 Speaker 1: you can Day and so you know, and Adam Ripon 79 00:04:01,800 --> 00:04:04,720 Speaker 1: could be on one of those shows. I mean there 80 00:04:04,760 --> 00:04:06,280 Speaker 1: is a show the other one, but I think you're 81 00:04:06,280 --> 00:04:09,600 Speaker 1: looking for Day. Yeah. Yeah, there's a lot of media 82 00:04:09,600 --> 00:04:12,480 Speaker 1: opportunities for guys like Adam Rippon who are media savvy 83 00:04:12,520 --> 00:04:14,600 Speaker 1: people seem to like them regardless of whether or not 84 00:04:14,640 --> 00:04:17,040 Speaker 1: they have Olympic medals. To the list of winners, I 85 00:04:17,040 --> 00:04:19,520 Speaker 1: would also add the women's hockey team, and that was 86 00:04:19,560 --> 00:04:23,039 Speaker 1: my second the women's right here, women's hockey. You're gonna 87 00:04:23,040 --> 00:04:25,760 Speaker 1: see them all over the place, from cereal boxes to 88 00:04:25,920 --> 00:04:29,000 Speaker 1: morning shows to advertisements. I mean they are going to 89 00:04:29,080 --> 00:04:32,360 Speaker 1: be I think the big American takeaway stars of the games. Yeah, 90 00:04:32,360 --> 00:04:34,680 Speaker 1: and how about Tara Lipinski and Johnny Weir. I continue 91 00:04:34,680 --> 00:04:37,279 Speaker 1: to think they're winners all the time them. Yeah, they're 92 00:04:37,279 --> 00:04:39,960 Speaker 1: still first. You can let me see them host access, 93 00:04:39,960 --> 00:04:42,839 Speaker 1: how that or something else. Yeah. The numbers of the 94 00:04:42,839 --> 00:04:44,920 Speaker 1: suitcases they brought is one of my favorite stats of 95 00:04:44,960 --> 00:04:48,240 Speaker 1: the Olympics. One Johnny were brought brought in nine suitcases 96 00:04:48,279 --> 00:04:50,640 Speaker 1: and she brought seven. And he said the difference was 97 00:04:50,680 --> 00:04:54,880 Speaker 1: because her her clothing is smaller. Okay, well love it, simple, 98 00:04:55,040 --> 00:04:58,080 Speaker 1: easy makes sense. All right. Let's turn to college basketball, 99 00:04:58,600 --> 00:05:01,400 Speaker 1: and we've heard trickles of bed new is FBI investigation. 100 00:05:02,240 --> 00:05:06,680 Speaker 1: So now Arizona's coach Sean Miller is reportedly on some 101 00:05:06,800 --> 00:05:11,240 Speaker 1: wire tap agreeing to pay or talking about paying a 102 00:05:11,279 --> 00:05:15,240 Speaker 1: player a hundred thousand dollars. Me I yawn, Okay, a 103 00:05:15,360 --> 00:05:19,800 Speaker 1: coach paid a premiere recruit. Think about what a number 104 00:05:19,839 --> 00:05:23,840 Speaker 1: one guy like a Carmelo Anthony meant for Syracuse in 105 00:05:23,960 --> 00:05:28,119 Speaker 1: terms of donations, in terms of exposure applications. By the way, 106 00:05:28,320 --> 00:05:30,240 Speaker 1: this has got nothing to do with sports business, but 107 00:05:30,320 --> 00:05:32,240 Speaker 1: I think I saw somewhere the other day that Syracuse 108 00:05:32,279 --> 00:05:34,360 Speaker 1: is now going up to seventy thousand dollars a year. 109 00:05:34,400 --> 00:05:37,360 Speaker 1: All in, let's see what my student fee is at 110 00:05:37,360 --> 00:05:40,279 Speaker 1: work there. Uh, they're not getting anything from me. But 111 00:05:40,960 --> 00:05:44,120 Speaker 1: Sean Miller Arizona. What do we make of it? Yeah, 112 00:05:44,160 --> 00:05:47,000 Speaker 1: it's funny. You can never pay the top guys what 113 00:05:47,120 --> 00:05:49,920 Speaker 1: their requisite value is. You know, were Marquelle Folks the 114 00:05:50,000 --> 00:05:51,880 Speaker 1: number one pick in the NBA draft. I think he's 115 00:05:51,880 --> 00:05:54,040 Speaker 1: making eleven million dollars over his first two years in 116 00:05:54,080 --> 00:05:56,160 Speaker 1: the NBA. I'm trusting the process on so you're never 117 00:05:56,279 --> 00:05:58,239 Speaker 1: these guys that are good enough to jump to the NBA. 118 00:05:58,320 --> 00:06:01,839 Speaker 1: But camp, because of the eligibility rules, you're never gonna 119 00:06:01,839 --> 00:06:03,800 Speaker 1: No matter how much a college is willing to open up, 120 00:06:03,880 --> 00:06:05,680 Speaker 1: or no matter how much a manager or a shoe 121 00:06:05,680 --> 00:06:07,720 Speaker 1: company is willing to pay, you're never gonna get your 122 00:06:07,720 --> 00:06:10,119 Speaker 1: actual value. But as we've talked about on this show, 123 00:06:10,320 --> 00:06:13,720 Speaker 1: this stuff happens everywhere. It happens across college basketball. The 124 00:06:13,800 --> 00:06:16,640 Speaker 1: few leaks we've seen coming out of the FBI's investigation, 125 00:06:16,920 --> 00:06:19,839 Speaker 1: it certainly sounds like this is something that is they're finding. 126 00:06:19,880 --> 00:06:22,960 Speaker 1: At a number of the times on the programs, I mean, 127 00:06:23,080 --> 00:06:28,240 Speaker 1: everybody always talks with Duke Coachowski, coach k he is 128 00:06:28,240 --> 00:06:32,520 Speaker 1: is he not the beacon of virtue of college athletics? 129 00:06:33,120 --> 00:06:35,560 Speaker 1: And this is So there's two investigations, and I think 130 00:06:35,600 --> 00:06:38,760 Speaker 1: sometimes the public mixes them up. There's the FBI investigation, 131 00:06:39,000 --> 00:06:41,240 Speaker 1: in which people are being charged with actual crimes, and 132 00:06:41,440 --> 00:06:43,800 Speaker 1: we've seen the eleven of them so far, and it 133 00:06:43,839 --> 00:06:46,400 Speaker 1: does sound like it's gonna stop there. It doesn't really 134 00:06:46,440 --> 00:06:48,239 Speaker 1: sound like the FBI is really going to go after 135 00:06:48,520 --> 00:06:50,599 Speaker 1: criminal charges for a lot of these other people. But 136 00:06:50,680 --> 00:06:53,360 Speaker 1: the result of that criminal investigation is going to be 137 00:06:53,400 --> 00:06:56,320 Speaker 1: the n c A subsequent investigation in which they have 138 00:06:56,440 --> 00:06:58,279 Speaker 1: to come to terms with the fact that, as you said, 139 00:06:58,480 --> 00:07:00,920 Speaker 1: these pillars, these Hall of Fame code choose, these these 140 00:07:00,920 --> 00:07:04,320 Speaker 1: blue blood programs, all of them are guilty of violating 141 00:07:04,360 --> 00:07:06,560 Speaker 1: the same n c A rules. And we've seen this 142 00:07:06,640 --> 00:07:08,760 Speaker 1: time and time again. The n c A has to adapt, 143 00:07:08,800 --> 00:07:10,640 Speaker 1: and Mark Emert seems to be saying that he will, 144 00:07:11,200 --> 00:07:14,160 Speaker 1: but there's gonna have to be dramastic, drastic changes to 145 00:07:14,240 --> 00:07:16,520 Speaker 1: the way that the n c A allows students to 146 00:07:16,600 --> 00:07:19,360 Speaker 1: come from high school to college and then to the pros. 147 00:07:19,400 --> 00:07:21,720 Speaker 1: I'm glad that you had more to say after drastic changes, 148 00:07:21,760 --> 00:07:23,960 Speaker 1: because I was yawning for those two seconds. I mean, 149 00:07:24,040 --> 00:07:26,480 Speaker 1: stop me if I've heard this point? Is Mark Emert? 150 00:07:26,960 --> 00:07:29,120 Speaker 1: Is he being a leader here? Is he being a follower? 151 00:07:29,160 --> 00:07:31,800 Speaker 1: Is he being forced into this? I mean, the n 152 00:07:31,800 --> 00:07:36,160 Speaker 1: c A needs change. You don't say sure and now 153 00:07:37,480 --> 00:07:40,040 Speaker 1: to change organization that I think we've seen in in 154 00:07:40,120 --> 00:07:43,360 Speaker 1: sports um And he's getting pressure from from the any 155 00:07:43,400 --> 00:07:46,200 Speaker 1: trust side. From a legal standpoint with Jeff Kessler's lawsuit. 156 00:07:46,440 --> 00:07:49,640 Speaker 1: He's getting pressure from a business side as people stop 157 00:07:49,680 --> 00:07:51,840 Speaker 1: going to football games and meteor rites maybe go down. 158 00:07:52,040 --> 00:07:55,040 Speaker 1: Now there's pressure from a paying players and and their 159 00:07:55,080 --> 00:07:57,640 Speaker 1: true value UH side. There's a lot and there's a 160 00:07:57,680 --> 00:08:00,280 Speaker 1: lot of things going on here. And his goal is 161 00:08:00,320 --> 00:08:02,000 Speaker 1: to keep the whole thing together. He has to preserve 162 00:08:02,040 --> 00:08:05,280 Speaker 1: amateurism because if they lose that, they lose the entire thing. 163 00:08:05,320 --> 00:08:06,960 Speaker 1: The whole thing comes down. But we just talked about 164 00:08:06,960 --> 00:08:09,480 Speaker 1: the underground economy. If there's so much money, and we 165 00:08:09,560 --> 00:08:14,040 Speaker 1: know the players are the product, and you need the 166 00:08:14,040 --> 00:08:16,600 Speaker 1: good ones to get on TV and to go to 167 00:08:16,640 --> 00:08:19,560 Speaker 1: the postseason, and that's how the coaches get their X 168 00:08:19,600 --> 00:08:22,640 Speaker 1: million dollar contracts. And but what was I reading about 169 00:08:22,720 --> 00:08:26,120 Speaker 1: Sean Millery? You always pay close attention to coaching contracts, 170 00:08:26,800 --> 00:08:29,920 Speaker 1: that he could make more money, just writers, and I 171 00:08:30,000 --> 00:08:31,320 Speaker 1: clear it up if you if you do know it 172 00:08:31,760 --> 00:08:35,439 Speaker 1: that he can make more money if he's fired four cause, 173 00:08:35,760 --> 00:08:39,360 Speaker 1: which means he's done something wrong. Then if he's just 174 00:08:39,440 --> 00:08:41,720 Speaker 1: fired because let's say the team doesn't win. Yeah, if 175 00:08:41,760 --> 00:08:44,720 Speaker 1: you read the contract, it's a little ambiguous. The school 176 00:08:44,720 --> 00:08:46,840 Speaker 1: has said that they do not interpret it that way, 177 00:08:46,840 --> 00:08:49,559 Speaker 1: that they believe there is an intent on both parties. 178 00:08:49,600 --> 00:08:52,880 Speaker 1: There's an understanding in Arizona law that if you're fired 179 00:08:52,920 --> 00:08:56,160 Speaker 1: for cause, your base salary stops the moment you're fired. 180 00:08:56,480 --> 00:08:58,800 Speaker 1: That's what they're banking on. But but you're right in 181 00:08:58,840 --> 00:09:01,640 Speaker 1: the in the overall theme in that part of this 182 00:09:01,720 --> 00:09:04,760 Speaker 1: problem is that there's so much money being made, schools 183 00:09:04,760 --> 00:09:06,880 Speaker 1: can't give it to players. Obviously, they end up giving 184 00:09:06,920 --> 00:09:09,880 Speaker 1: it to coaches. These contracts are so saturated. We have 185 00:09:10,000 --> 00:09:12,680 Speaker 1: seen coaches in the past get huge lump sums of 186 00:09:12,679 --> 00:09:16,000 Speaker 1: money even if they are fired for cause. Uh. Rick 187 00:09:16,040 --> 00:09:19,040 Speaker 1: Pettino obviously is going through a fight with Louisville right now, 188 00:09:19,360 --> 00:09:21,720 Speaker 1: fired for kind of the exact same thing for for 189 00:09:21,760 --> 00:09:25,319 Speaker 1: his role, and potentially funneling money to players. Uh there's 190 00:09:25,520 --> 00:09:28,200 Speaker 1: millions and millions of dollars going into coaches contracts now 191 00:09:28,240 --> 00:09:30,319 Speaker 1: because they can't go to players. And that may be 192 00:09:30,440 --> 00:09:32,760 Speaker 1: one of the things we do see shift. If the 193 00:09:32,840 --> 00:09:35,360 Speaker 1: n c a A loosens its rules, figures out a 194 00:09:35,360 --> 00:09:38,920 Speaker 1: way to have high school kids or college kids have agents, 195 00:09:39,200 --> 00:09:41,079 Speaker 1: figure out some way for them to get paid, maybe 196 00:09:41,080 --> 00:09:44,040 Speaker 1: for their name like listen, image, whatever it is. UH, 197 00:09:44,080 --> 00:09:47,160 Speaker 1: that could have a huge market correction on coaches contracts. 198 00:09:47,160 --> 00:09:49,679 Speaker 1: I'm always amazed by this, the feurer that comes up 199 00:09:49,679 --> 00:09:52,720 Speaker 1: when we talk about one and done. How many athletes 200 00:09:52,720 --> 00:09:56,040 Speaker 1: are we really talking about here, these guys who have 201 00:09:56,240 --> 00:09:58,520 Speaker 1: a real chance. It's almost like, you know, the insurance 202 00:09:58,600 --> 00:10:01,079 Speaker 1: that that these kids can take out, they have to 203 00:10:01,120 --> 00:10:02,960 Speaker 1: be judges to whether or not they have a realistic 204 00:10:02,960 --> 00:10:05,319 Speaker 1: possibility at going pro to be eligible for you know, 205 00:10:05,360 --> 00:10:07,200 Speaker 1: there's the kind of a body that looks and says, 206 00:10:07,200 --> 00:10:09,640 Speaker 1: evaluates the player and says, yes, you qualify, you have 207 00:10:09,679 --> 00:10:12,120 Speaker 1: a chance at going pro. Imagine you just had the 208 00:10:12,160 --> 00:10:15,720 Speaker 1: same thing for sort of an overall body of work 209 00:10:16,040 --> 00:10:20,360 Speaker 1: where you can take financial literacy, nutrition, health, and science, 210 00:10:20,720 --> 00:10:23,760 Speaker 1: things that are aimed at what you're hoping to do. 211 00:10:23,880 --> 00:10:26,040 Speaker 1: That could be part of your curriculum. But it doesn't 212 00:10:26,080 --> 00:10:27,920 Speaker 1: seem that it's even that way. Yeah, and there's gonna 213 00:10:27,920 --> 00:10:29,960 Speaker 1: be I don't know if you saw Sharif O'Neil checks 214 00:10:30,720 --> 00:10:34,000 Speaker 1: son son who decommitted from Arizona in the wake of this. 215 00:10:34,400 --> 00:10:37,040 Speaker 1: I think there's gonna be some massive ripple effects that 216 00:10:37,080 --> 00:10:39,320 Speaker 1: are gonna affect a lot of these programs as we see, 217 00:10:39,320 --> 00:10:41,439 Speaker 1: and I would assume we're going to see more, a 218 00:10:41,480 --> 00:10:44,120 Speaker 1: little bit more leaks, some more details coming out about 219 00:10:44,120 --> 00:10:47,080 Speaker 1: what exactly the FBI has in their hundreds of thousands 220 00:10:47,080 --> 00:10:50,480 Speaker 1: of hours of wire taps of of agents and managers. 221 00:10:50,800 --> 00:10:52,240 Speaker 1: There's a lot more that's gonna come out, and it's 222 00:10:52,280 --> 00:10:54,840 Speaker 1: going to have these these seismic ripples from from recruiting 223 00:10:54,840 --> 00:10:56,360 Speaker 1: on down. I think Bob Mother is going to take 224 00:10:56,400 --> 00:10:58,200 Speaker 1: this over when he's got some free time on I'm 225 00:10:58,240 --> 00:11:00,880 Speaker 1: on board with. So much of the money comes from 226 00:11:01,040 --> 00:11:04,200 Speaker 1: the television networks. CBS is one of them. They show 227 00:11:04,280 --> 00:11:07,640 Speaker 1: the tournament along with Turner, and CBS is doing what 228 00:11:07,679 --> 00:11:09,800 Speaker 1: everybody else is doing, a new O t T service. 229 00:11:10,640 --> 00:11:14,280 Speaker 1: But but but here's the big butt. There's no games. 230 00:11:14,679 --> 00:11:20,600 Speaker 1: They're showing like news highlights. I don't know who's going there. 231 00:11:20,640 --> 00:11:23,360 Speaker 1: Obviously they're not giving up any of the core stuff 232 00:11:23,400 --> 00:11:26,400 Speaker 1: on TV, so that's fine, and they're looking for ways 233 00:11:26,559 --> 00:11:31,760 Speaker 1: to drive revenue. This is another platform. Okay, I'm just 234 00:11:31,760 --> 00:11:34,559 Speaker 1: struggling with And you're closer to millennial than I am. 235 00:11:34,600 --> 00:11:37,800 Speaker 1: He may even be one. Uh, who's gonna watch this? 236 00:11:38,240 --> 00:11:39,960 Speaker 1: If I have my phone and I've got Twitter, and 237 00:11:39,960 --> 00:11:42,440 Speaker 1: I've got I get highlights, I get news, What what 238 00:11:42,480 --> 00:11:45,000 Speaker 1: am I being giving? It's a great question. It's it's clear, 239 00:11:45,040 --> 00:11:47,080 Speaker 1: as you said, that CBS does not want to undercut 240 00:11:47,160 --> 00:11:49,559 Speaker 1: the main product, the live sports that you're going to 241 00:11:49,600 --> 00:11:52,400 Speaker 1: see on linear TV. But if this is just a 242 00:11:52,720 --> 00:11:55,680 Speaker 1: rival to Sports Center, which which many have tried and 243 00:11:55,720 --> 00:11:58,160 Speaker 1: none of it have taken off in the way that 244 00:11:58,360 --> 00:12:01,320 Speaker 1: even Sports Center doesn't work anymore, we seen that. Sure, Yeah, 245 00:12:01,320 --> 00:12:04,200 Speaker 1: I don't. I don't have an answer for you. I 246 00:12:04,200 --> 00:12:06,760 Speaker 1: would imagine that there's a media executive somewhere that that 247 00:12:06,840 --> 00:12:11,600 Speaker 1: can say, hey, just having the thing, um CBS, their 248 00:12:11,640 --> 00:12:14,960 Speaker 1: sports network UH probably averages a million dollar a million 249 00:12:15,080 --> 00:12:17,160 Speaker 1: viewers for some of their programming. If you can get 250 00:12:17,240 --> 00:12:19,520 Speaker 1: part of that to switch over to digital, if you 251 00:12:19,559 --> 00:12:23,000 Speaker 1: can get an advertiser to UH to invest in it, 252 00:12:23,000 --> 00:12:25,160 Speaker 1: I mean there there, It's it's an Answillery revenue stream. 253 00:12:25,320 --> 00:12:27,360 Speaker 1: Regardless of whether it's bigger or not, the cost for 254 00:12:27,400 --> 00:12:30,000 Speaker 1: putting it out there really isn't that big. And if 255 00:12:30,120 --> 00:12:33,479 Speaker 1: we get to a point in the future where CBS says, hey, 256 00:12:33,640 --> 00:12:35,160 Speaker 1: you know, maybe we need it's time to put some 257 00:12:35,200 --> 00:12:37,199 Speaker 1: live games on the digital, then they already have it 258 00:12:37,280 --> 00:12:39,120 Speaker 1: up and running. They have kind of the infrastructure for 259 00:12:39,160 --> 00:12:41,480 Speaker 1: it already. So this is the first step. Maybe it 260 00:12:41,480 --> 00:12:43,880 Speaker 1: will lead to live games in the future. Who knows 261 00:12:43,920 --> 00:12:47,000 Speaker 1: that they're one of the biggest sports properties, is uh 262 00:12:47,040 --> 00:12:49,200 Speaker 1: the n c A basketball tournament. Maybe we'll see some 263 00:12:49,240 --> 00:12:52,680 Speaker 1: live games there. Um the master who knows that there's 264 00:12:52,720 --> 00:12:55,559 Speaker 1: some their opportunities there for the future, don't even say it. 265 00:12:55,559 --> 00:12:57,600 Speaker 1: I quickly. This didn't get a lot of attention, but 266 00:12:57,640 --> 00:13:00,079 Speaker 1: Matt Walsh who played two games in the NBA A 267 00:13:00,440 --> 00:13:03,720 Speaker 1: he led a group that bought the controlling interest in 268 00:13:03,760 --> 00:13:06,800 Speaker 1: an Australian Basketball League team, And I mean with him 269 00:13:06,840 --> 00:13:10,040 Speaker 1: as a Swansea investor x NBA player Shawn Marion. And 270 00:13:10,040 --> 00:13:12,360 Speaker 1: this is the part that I find great. The guys 271 00:13:12,760 --> 00:13:16,280 Speaker 1: from Barstool Sports Big Cat, I don't know the name, 272 00:13:16,320 --> 00:13:18,280 Speaker 1: the real names Versus and Henry Lockwood and p f 273 00:13:18,320 --> 00:13:19,960 Speaker 1: T commentary. I don't know what his real name is. 274 00:13:20,360 --> 00:13:23,839 Speaker 1: But a E G bought a team two years ago. 275 00:13:24,000 --> 00:13:28,000 Speaker 1: US money going to Australia affordable. Yeah, And is this 276 00:13:28,040 --> 00:13:30,240 Speaker 1: the new Premier League? Is this the new something that 277 00:13:30,400 --> 00:13:33,760 Speaker 1: US money looking elsewhere because the price point to entry 278 00:13:33,880 --> 00:13:37,040 Speaker 1: here in the big time is so prohibitive. Sure, and 279 00:13:37,040 --> 00:13:38,880 Speaker 1: I had not. I don't know enough about the Australian 280 00:13:38,920 --> 00:13:41,679 Speaker 1: and New Zealand TV market to know if they're ready 281 00:13:41,720 --> 00:13:44,240 Speaker 1: for a boom whatever it is, but it certainly is 282 00:13:44,280 --> 00:13:47,080 Speaker 1: an intriguing ownership group. I can't wait to see what 283 00:13:47,120 --> 00:13:49,640 Speaker 1: the Barstool guys do with this. So anyway, this is 284 00:13:49,679 --> 00:13:52,640 Speaker 1: the Bloomberg Business of Sports podcast. I'm Scott Sashnik along 285 00:13:52,679 --> 00:13:54,920 Speaker 1: with Evan Novi Williams. We are here each and every 286 00:13:54,960 --> 00:13:57,559 Speaker 1: Monday and Friday, exploring the world of money in sports. 287 00:13:57,679 --> 00:13:59,079 Speaker 1: Join us again at the end of the week when 288 00:13:59,080 --> 00:14:02,319 Speaker 1: we speak with Seattle Ehawk's cornerback Richard Sermon. You're listening 289 00:14:02,360 --> 00:14:05,199 Speaker 1: to Bloomberg Business of Sports on Bloomberg Radio around the 290 00:14:05,240 --> 00:14:07,920 Speaker 1: world and online as an Apple Podcast on iTunes.