1 00:00:00,840 --> 00:00:02,800 Speaker 1: This is the business of sports. 2 00:00:02,840 --> 00:00:05,720 Speaker 2: The business of sports can be intimidating or hard for 3 00:00:05,720 --> 00:00:06,720 Speaker 2: a starting to break into. 4 00:00:06,840 --> 00:00:09,840 Speaker 3: We really appreciate when our owners are actually there, you know, 5 00:00:09,920 --> 00:00:11,000 Speaker 3: with us through the journey. 6 00:00:11,039 --> 00:00:14,560 Speaker 4: Teams ours especially have been very intentional to diversify at 7 00:00:14,600 --> 00:00:15,560 Speaker 4: all levels of the company. 8 00:00:15,640 --> 00:00:17,759 Speaker 5: I think we're in the bolden years for the NFL 9 00:00:17,960 --> 00:00:18,880 Speaker 5: and college football. 10 00:00:18,920 --> 00:00:21,919 Speaker 3: Our demographic reach has continued to exploise. 11 00:00:22,079 --> 00:00:25,720 Speaker 5: This is going to be really unlocking the streaming platform 12 00:00:25,800 --> 00:00:27,040 Speaker 5: for sports fans. 13 00:00:26,800 --> 00:00:28,200 Speaker 2: Sports evaluations arising. 14 00:00:28,320 --> 00:00:29,280 Speaker 3: We'll see when they peak. 15 00:00:29,360 --> 00:00:31,880 Speaker 5: You don't have to be the best in your sport 16 00:00:31,960 --> 00:00:34,920 Speaker 5: to make a whole ton of money. 17 00:00:35,040 --> 00:00:38,120 Speaker 1: Bloomberg Business of Sports from Bloomberg Radio. 18 00:00:39,080 --> 00:00:41,519 Speaker 2: This is the Bloomberg Business of Sports, where we explored 19 00:00:41,560 --> 00:00:43,479 Speaker 2: the big money issues in the world of sports. I'm 20 00:00:43,520 --> 00:00:46,360 Speaker 2: Michael Barr, along with MI cole leagues, Damian Sassauer and 21 00:00:46,440 --> 00:00:49,600 Speaker 2: Vanessa Bernomo. Coming up on the show, we'll hear from 22 00:00:49,680 --> 00:00:53,800 Speaker 2: Mesai Jerry. He is vice chairman and president of the 23 00:00:53,920 --> 00:00:57,880 Speaker 2: NBA's Toronto Raptors. He's also co founder of Giants of Africa. 24 00:00:58,000 --> 00:01:00,840 Speaker 2: We'll talk to him about that initiative and how he's 25 00:01:00,920 --> 00:01:03,840 Speaker 2: using the game of basketball to empower young people in Africa. 26 00:01:04,000 --> 00:01:06,679 Speaker 6: We started a basketball camp twenty two years ago and 27 00:01:06,760 --> 00:01:09,800 Speaker 6: it was started just from the basic teaching of kids 28 00:01:09,920 --> 00:01:13,360 Speaker 6: basic fundamentals of the game, fifty kids in Nigeria. I 29 00:01:13,520 --> 00:01:15,880 Speaker 6: modeled it out of Basketball without Borders. 30 00:01:16,080 --> 00:01:17,560 Speaker 2: All that and more is on the way on the 31 00:01:17,600 --> 00:01:20,440 Speaker 2: Bloomberg Business of Sports, But first we wanted to check 32 00:01:20,520 --> 00:01:23,440 Speaker 2: in on some of the legal headlines in the world 33 00:01:23,440 --> 00:01:27,560 Speaker 2: of sports. Lately, Congress is still mulling over compensation for 34 00:01:27,720 --> 00:01:31,320 Speaker 2: college players, and in the pros, we saw the MLB 35 00:01:31,880 --> 00:01:35,039 Speaker 2: make the choice to make Pete Rose and several others 36 00:01:35,080 --> 00:01:37,680 Speaker 2: eligible for the Hall of Fame. Here to go over 37 00:01:37,880 --> 00:01:41,720 Speaker 2: that and more is friend of the show Martin Needle. 38 00:01:42,000 --> 00:01:45,200 Speaker 2: He is co chair of Gulston and Stewart's Sports law 39 00:01:45,240 --> 00:01:49,880 Speaker 2: practice an adjunct professor of law at Columbia University. Marty, 40 00:01:50,200 --> 00:01:53,920 Speaker 2: Welcome to the Bloomberg Business of Sports. Oh my goodness, 41 00:01:54,080 --> 00:01:58,240 Speaker 2: he's even more handsome in person than he is on 42 00:01:58,280 --> 00:02:02,720 Speaker 2: the phone. Hey, welcome to the Bloomberg Business of Sports. 43 00:02:02,720 --> 00:02:06,400 Speaker 7: My friend, Michael, so nice for you to have me here. Damien, 44 00:02:06,480 --> 00:02:09,960 Speaker 7: it's good to associate a face with a voice. 45 00:02:10,760 --> 00:02:16,280 Speaker 2: You might have regrets after you've seen this space. Well, 46 00:02:16,280 --> 00:02:18,000 Speaker 2: we got a lot to talk about. There is a 47 00:02:18,320 --> 00:02:23,200 Speaker 2: prospective house settlement, the House and the NCAA settlement. It 48 00:02:23,280 --> 00:02:27,000 Speaker 2: hangs in the balance. They have extended a deadline. It 49 00:02:27,080 --> 00:02:30,240 Speaker 2: was supposed to be June sixth, and it is now 50 00:02:30,400 --> 00:02:33,640 Speaker 2: June twenty seventh. Now that's important, Marty, as you've mentioned, 51 00:02:33,680 --> 00:02:37,000 Speaker 2: for two reasons. One, it gives more time for an appeal, 52 00:02:37,040 --> 00:02:40,560 Speaker 2: but more importantly, it pushes the timeline for a potential 53 00:02:40,960 --> 00:02:43,760 Speaker 2: resolution even closer to July first. 54 00:02:44,040 --> 00:02:48,560 Speaker 7: So you're absolutely right, Michael. The House settlement is far 55 00:02:48,600 --> 00:02:51,680 Speaker 7: from clear at this point. There are a number of 56 00:02:52,200 --> 00:02:56,440 Speaker 7: wild cards going on, in particular the roster size of 57 00:02:56,600 --> 00:03:01,280 Speaker 7: college teams. The judge has expressed concern about what will 58 00:03:01,320 --> 00:03:06,600 Speaker 7: happen if the NCAA and the various conferences fix the 59 00:03:06,720 --> 00:03:10,520 Speaker 7: rosters at a particular size. What will that mean for 60 00:03:10,919 --> 00:03:14,440 Speaker 7: some members of the class. Will they be thrown off 61 00:03:14,800 --> 00:03:18,120 Speaker 7: the team? Will they have the ability to be guaranteed 62 00:03:18,160 --> 00:03:20,800 Speaker 7: a roster spot? And there are lots of ideas coming 63 00:03:20,919 --> 00:03:26,120 Speaker 7: up to deal with that. What's really important to note 64 00:03:26,320 --> 00:03:29,880 Speaker 7: about the House settlement is what it does not cover. 65 00:03:30,720 --> 00:03:35,160 Speaker 7: It does not cover Title seven concerns or Title nine concerns. 66 00:03:35,800 --> 00:03:40,920 Speaker 7: It does not cover prospective anti trust claims. Let me 67 00:03:40,960 --> 00:03:45,480 Speaker 7: give you an example. Prospectively, the House settlement provides that 68 00:03:45,640 --> 00:03:49,760 Speaker 7: conferences will pay up to twenty percent of revenues to 69 00:03:49,960 --> 00:03:55,160 Speaker 7: student athletes. Why twenty percent? Why not twenty two percent? 70 00:03:55,600 --> 00:04:00,520 Speaker 7: Twenty five percent? This is an antitrust lawsuit waiting to happen. 71 00:04:00,720 --> 00:04:04,960 Speaker 7: It restrains competition for those dollars. And the third area 72 00:04:05,040 --> 00:04:07,680 Speaker 7: that it does not cover is something that we have 73 00:04:07,800 --> 00:04:13,360 Speaker 7: talked about repeatedly before, which is our student athletes, employees, 74 00:04:14,400 --> 00:04:17,520 Speaker 7: they're going to be paid a percentage of revenues, they're 75 00:04:17,560 --> 00:04:20,360 Speaker 7: going to get their scholarships, they're going to get their 76 00:04:20,560 --> 00:04:24,640 Speaker 7: nil dollars. Sort of looks like, smells like, feels like 77 00:04:24,800 --> 00:04:26,719 Speaker 7: an employee, and what will happen? 78 00:04:26,760 --> 00:04:30,200 Speaker 4: Then settlement's touchstones they remain unchanged right starting the first 79 00:04:30,240 --> 00:04:32,720 Speaker 4: of July. Believe, NCAA schools can share as much as 80 00:04:32,760 --> 00:04:35,400 Speaker 4: twenty point five million in revenue with their athletes, and 81 00:04:35,520 --> 00:04:38,160 Speaker 4: former athletes who played between twenty sixteen and twenty four 82 00:04:38,160 --> 00:04:40,080 Speaker 4: will be paid what two point eight billion with a 83 00:04:40,080 --> 00:04:43,280 Speaker 4: B in back payments if the settlement is actually approved. 84 00:04:43,279 --> 00:04:46,000 Speaker 3: But it's this roster limit that I'm struggling with. 85 00:04:46,040 --> 00:04:47,800 Speaker 4: I mean, talk to us a little bit about how 86 00:04:47,839 --> 00:04:49,880 Speaker 4: they put the toothpaste batock in the bottle as it were. 87 00:04:49,960 --> 00:04:51,839 Speaker 7: You know, so, I think you hit the nail on 88 00:04:51,880 --> 00:04:56,159 Speaker 7: the head here, Damien. You can't go backwards, plain and simple. 89 00:04:56,440 --> 00:04:58,919 Speaker 7: What do you do with rosters? Well, now there's no 90 00:04:59,000 --> 00:05:01,599 Speaker 7: longer a cap on the number of scholarships, for example, 91 00:05:01,680 --> 00:05:06,080 Speaker 7: to be awarded, so schools can continue to award scholarships. Well, 92 00:05:06,120 --> 00:05:08,000 Speaker 7: they have the money for more than let's say one 93 00:05:08,040 --> 00:05:11,280 Speaker 7: hundred and five Maybe not so, maybe that's why they're 94 00:05:11,279 --> 00:05:16,760 Speaker 7: trying to link rosters with scholarships. But ultimately this should 95 00:05:16,760 --> 00:05:20,760 Speaker 7: be a resolvable problem, and both the players and the 96 00:05:20,880 --> 00:05:26,560 Speaker 7: NCAAA have proposed various solutions for the roster situation. Keep 97 00:05:26,920 --> 00:05:29,640 Speaker 7: all members of the class, for example, guarantee them a 98 00:05:29,720 --> 00:05:35,080 Speaker 7: roster spot is one second is create a wild card 99 00:05:35,200 --> 00:05:39,839 Speaker 7: number of roster entries kind of going forward basis one. 100 00:05:39,720 --> 00:05:42,640 Speaker 8: Of the things, like on the roster limit thing that 101 00:05:42,200 --> 00:05:46,120 Speaker 8: I'm really struggling with as well as a former athlete 102 00:05:46,160 --> 00:05:49,200 Speaker 8: myself and someone who plays a sport that really feels 103 00:05:49,200 --> 00:05:50,560 Speaker 8: like it was going to be affected by this. As 104 00:05:50,560 --> 00:05:54,960 Speaker 8: a women's soccer player. You know, our scholarships were divvied 105 00:05:55,080 --> 00:05:58,880 Speaker 8: up in between you know, each other, and we didn't 106 00:05:58,920 --> 00:06:01,360 Speaker 8: really not a lot of people have full rides. So 107 00:06:01,440 --> 00:06:03,800 Speaker 8: in a sport like football, where they can afford one 108 00:06:03,880 --> 00:06:07,680 Speaker 8: hundred and five scholarships, feels like maybe they don't get affected. 109 00:06:07,720 --> 00:06:11,159 Speaker 8: But what about the non revenue generating sports like women's soccer, baseball, 110 00:06:11,200 --> 00:06:11,760 Speaker 8: track and field. 111 00:06:12,360 --> 00:06:14,720 Speaker 7: So if I can expand your question a little bit 112 00:06:14,720 --> 00:06:17,080 Speaker 7: and then take it apart, so we have the non 113 00:06:17,200 --> 00:06:20,600 Speaker 7: roster you know sports, the non revenue sports, and then 114 00:06:20,640 --> 00:06:23,719 Speaker 7: we also have the dichotomy between men's and women's sports, 115 00:06:23,880 --> 00:06:27,680 Speaker 7: which we also shook can touch on if you'd like. So, 116 00:06:28,160 --> 00:06:32,760 Speaker 7: for example, in the difference between revenue and non revenue sports, 117 00:06:33,360 --> 00:06:37,440 Speaker 7: schools can continue to have rosters, they can continue to 118 00:06:37,560 --> 00:06:42,520 Speaker 7: award scholarships now without limit. They still have to find 119 00:06:42,600 --> 00:06:46,840 Speaker 7: some money, according to this, to pay athletes for the 120 00:06:46,960 --> 00:06:51,720 Speaker 7: use of the athlete's time and energy on in even 121 00:06:51,760 --> 00:06:55,400 Speaker 7: these non roster sports. How this is going to come 122 00:06:55,440 --> 00:06:59,719 Speaker 7: about is far from clear. There's some talk that Judge 123 00:06:59,720 --> 00:07:04,320 Speaker 7: Wills will appoint a magistrate judge to oversee enforcement. Maybe 124 00:07:04,360 --> 00:07:08,039 Speaker 7: she appoints instead a tribunal to look at this. There 125 00:07:08,080 --> 00:07:11,880 Speaker 7: are lots of ways of looking at it, but they 126 00:07:11,920 --> 00:07:15,840 Speaker 7: haven't dug into the details for on the non revenue 127 00:07:15,880 --> 00:07:19,480 Speaker 7: because the revenue sports take such a high precedence for 128 00:07:19,560 --> 00:07:21,360 Speaker 7: most colleges and universities. 129 00:07:21,720 --> 00:07:25,120 Speaker 2: I want to open up a whole brand new jar here. 130 00:07:25,280 --> 00:07:27,200 Speaker 2: It goes something to what you wrote about, by the 131 00:07:27,200 --> 00:07:31,080 Speaker 2: way in sportco about gambling, but it goes to the 132 00:07:31,240 --> 00:07:36,200 Speaker 2: MLB decided, hey, you know what, Pete Rose, fifteen others, 133 00:07:36,240 --> 00:07:39,400 Speaker 2: including shoeless Joe Jackson, you know what, Well, okay, we'll 134 00:07:39,400 --> 00:07:43,240 Speaker 2: make him eligible for the Hall of Fame posthumously. And 135 00:07:43,320 --> 00:07:46,480 Speaker 2: I know they're purists out there that are saying, who 136 00:07:46,600 --> 00:07:49,400 Speaker 2: should never happen because Pete Rose gambled on news and 137 00:07:49,440 --> 00:07:53,080 Speaker 2: that whatever others are saying just the opposite. Can you 138 00:07:53,120 --> 00:07:54,000 Speaker 2: break it down for us? 139 00:07:54,880 --> 00:07:59,080 Speaker 7: I can try it least. So we have a really 140 00:07:59,200 --> 00:08:02,840 Speaker 7: interesting sit situation. If you go back to nineteen nineteen 141 00:08:02,880 --> 00:08:05,280 Speaker 7: and the Black Sox, and now that you can see me, 142 00:08:05,320 --> 00:08:08,720 Speaker 7: you know I was around then. 143 00:08:09,960 --> 00:08:10,320 Speaker 9: I was. 144 00:08:12,400 --> 00:08:17,280 Speaker 7: Now I remember how I So with the Black Sox 145 00:08:17,400 --> 00:08:22,760 Speaker 7: came the start of having a commissioner for sports. Kennisaw 146 00:08:22,840 --> 00:08:25,680 Speaker 7: Mountain Landas was the first commissioner in any sport, and 147 00:08:25,680 --> 00:08:29,040 Speaker 7: he became the first commissioner in baseball. He promptly threw 148 00:08:29,120 --> 00:08:32,800 Speaker 7: out eight players from the Chicago White Sox team for 149 00:08:32,880 --> 00:08:38,160 Speaker 7: Baseball for life, including shoeless Joe Jacks. Baseball then had 150 00:08:38,200 --> 00:08:42,360 Speaker 7: this epiphany, Jay, if somebody bets, we're going to throw 151 00:08:42,400 --> 00:08:45,920 Speaker 7: them out for life. The reasons are pretty clear. We 152 00:08:46,000 --> 00:08:49,120 Speaker 7: don't want players to game what's there. We want fans 153 00:08:49,200 --> 00:08:52,559 Speaker 7: to think that this is not, for instance, like WWE. 154 00:08:53,200 --> 00:08:57,360 Speaker 7: We want to have a clean contest to attract fans. 155 00:08:57,679 --> 00:09:01,760 Speaker 7: And with the nascent media attention coming on, they wanted 156 00:09:01,840 --> 00:09:05,880 Speaker 7: media dollars. Why would media pay huge dollars if they 157 00:09:05,960 --> 00:09:09,520 Speaker 7: knew the outcome before it started. So baseball was in 158 00:09:09,559 --> 00:09:13,600 Speaker 7: the forefront and said you're out. This coincided, of course, 159 00:09:13,760 --> 00:09:16,839 Speaker 7: with the feeling in the country where most states had 160 00:09:16,920 --> 00:09:21,559 Speaker 7: laws which prohibited gambling. Not so in the other leagues though, 161 00:09:22,080 --> 00:09:25,400 Speaker 7: So you look at football. I'll jump forward to about 162 00:09:25,480 --> 00:09:29,200 Speaker 7: nineteen sixty one, Paul Horning, a star running back for 163 00:09:29,240 --> 00:09:33,520 Speaker 7: the Green Bay Packers, Alex Carris, a star defensive tackle 164 00:09:33,559 --> 00:09:39,080 Speaker 7: for the Detroit Lions. Court gambling tossed out initially for 165 00:09:39,240 --> 00:09:43,319 Speaker 7: life and then later changed to a single year hockey, 166 00:09:43,400 --> 00:09:44,400 Speaker 7: same thing one year. 167 00:09:45,080 --> 00:09:48,840 Speaker 4: Back then, the amounts of revenue that's generated from legalized 168 00:09:48,880 --> 00:09:53,880 Speaker 4: sports gambling wasn't one hundred point nine billion dollars per year. 169 00:09:53,960 --> 00:09:55,640 Speaker 3: So this is a big money issue. 170 00:09:55,720 --> 00:09:58,320 Speaker 4: And you know my curiosity, Marty, and I wonder if 171 00:09:58,320 --> 00:10:00,880 Speaker 4: you can appign on this is some of the people 172 00:10:00,960 --> 00:10:03,760 Speaker 4: out there are the ones who physically enhancing drugs and 173 00:10:03,840 --> 00:10:06,360 Speaker 4: PD all that kind of stuff. This opens the door 174 00:10:06,440 --> 00:10:09,320 Speaker 4: for you know, some of that to get challenged as well. 175 00:10:09,320 --> 00:10:13,160 Speaker 4: But you know, I believe sports betting is a different 176 00:10:13,200 --> 00:10:17,079 Speaker 4: animal than pds. What's the president that's being said here 177 00:10:17,120 --> 00:10:17,840 Speaker 4: in your opinion? 178 00:10:18,480 --> 00:10:22,840 Speaker 7: Again, two tracks going, So one is sports gambling. Sports 179 00:10:22,840 --> 00:10:25,800 Speaker 7: gambling is now legal in thirty eight states plus the 180 00:10:25,840 --> 00:10:26,800 Speaker 7: district of Colonis. 181 00:10:26,880 --> 00:10:28,360 Speaker 3: Fan engagement. It's good for the game. 182 00:10:28,640 --> 00:10:32,880 Speaker 7: How many people engage in fanduels or DraftKings. I used 183 00:10:32,920 --> 00:10:35,439 Speaker 7: to tell my class, you know, by show of hands, 184 00:10:35,440 --> 00:10:37,880 Speaker 7: how many of you are participating that They raise the hand. 185 00:10:37,920 --> 00:10:39,280 Speaker 7: I said, well, I guess I have to report you 186 00:10:39,320 --> 00:10:42,600 Speaker 7: to the authorities. It's illegal. After they got over the 187 00:10:42,640 --> 00:10:46,320 Speaker 7: shock of that, but now you're right, we're spending as 188 00:10:46,360 --> 00:10:50,880 Speaker 7: a nation well over one hundred billion dollars annually. In 189 00:10:51,080 --> 00:10:52,800 Speaker 7: sports gambling. 190 00:10:52,480 --> 00:10:54,920 Speaker 8: People can bet on if someone gets a touchdown, they 191 00:10:54,920 --> 00:10:59,120 Speaker 8: can bet on specific players, right, So how come they 192 00:10:59,200 --> 00:11:02,000 Speaker 8: can't get a pece piece of that high obviously not 193 00:11:02,040 --> 00:11:05,080 Speaker 8: betting on themselves, but shouldn't they get something from other 194 00:11:05,120 --> 00:11:07,080 Speaker 8: people trying to bet on them? 195 00:11:07,440 --> 00:11:09,960 Speaker 7: Well, again, if you want to, if you come to 196 00:11:10,000 --> 00:11:14,040 Speaker 7: the conclusion that these are not outcome determinative and won't 197 00:11:14,080 --> 00:11:19,120 Speaker 7: affect therefore the way fans and the media look at sports, 198 00:11:19,679 --> 00:11:22,920 Speaker 7: maybe you can permit something like that. I think it 199 00:11:23,320 --> 00:11:26,680 Speaker 7: makes sense as a rule, at least right now, to 200 00:11:26,760 --> 00:11:30,040 Speaker 7: say you cannot bet on a sport in which you 201 00:11:30,080 --> 00:11:32,840 Speaker 7: can bet on sports in which you do not participate, 202 00:11:33,360 --> 00:11:36,000 Speaker 7: but not on sports in which you participate. Is this 203 00:11:36,160 --> 00:11:40,599 Speaker 7: really any different though, than your old time gamblers who 204 00:11:40,800 --> 00:11:44,720 Speaker 7: told players will break your kneecaps unless you throw the game. 205 00:11:46,720 --> 00:11:50,440 Speaker 7: That's not what we want in our as fans viewing 206 00:11:50,480 --> 00:11:54,000 Speaker 7: it or as the media broadcasting sports. You want a 207 00:11:54,080 --> 00:11:57,440 Speaker 7: free and open game, and the more you get away 208 00:11:57,480 --> 00:12:01,720 Speaker 7: from that, the more problems you have there. It's a 209 00:12:01,840 --> 00:12:03,920 Speaker 7: constantly evolving problem. 210 00:12:04,200 --> 00:12:07,080 Speaker 2: By the way, you all missed. The biggest prop bet 211 00:12:07,440 --> 00:12:09,840 Speaker 2: was on Alex Chris that he was going to star 212 00:12:10,000 --> 00:12:12,880 Speaker 2: in Webster years down the road. I came through all 213 00:12:12,920 --> 00:12:19,160 Speaker 2: that Marty Eedel, I love that show. Our thanks to 214 00:12:19,200 --> 00:12:22,199 Speaker 2: Marty Eagle for joining us. He's co chair of Gulston 215 00:12:22,280 --> 00:12:26,080 Speaker 2: and Stores Sports Law Practice and adjunct Professor of Law 216 00:12:26,080 --> 00:12:30,480 Speaker 2: at Columbia University. Up next, our very own Vanessa Perdomo 217 00:12:30,600 --> 00:12:34,520 Speaker 2: speaks with the CEO and Secretary General of the US 218 00:12:34,559 --> 00:12:39,400 Speaker 2: Soccer Federation, J. T. Batson. For my colleagues, Damien Sassauer 219 00:12:39,520 --> 00:12:42,760 Speaker 2: and Vanessa Perdomo, I'm Michael Barr. You are listening to 220 00:12:42,800 --> 00:12:46,720 Speaker 2: the Bloomberg Business of Sports from Bloomberg Radio around the world. 221 00:12:51,000 --> 00:12:55,000 Speaker 1: This is Bloomberg Business of Sports from Bloomberg Radio. 222 00:12:56,000 --> 00:12:58,560 Speaker 2: This is the Bloomberg Business of Sports, where we explore 223 00:12:58,559 --> 00:13:01,240 Speaker 2: the big money issues in the world sports. Michael Barr 224 00:13:01,679 --> 00:13:05,280 Speaker 2: our very own, but Essa Perdomo is our resident soccer expert. 225 00:13:05,520 --> 00:13:07,719 Speaker 2: She's launching a new series focused on some of the 226 00:13:07,800 --> 00:13:10,200 Speaker 2: big names in the sport in the run up to 227 00:13:10,320 --> 00:13:14,120 Speaker 2: the US hosting the FIFA World Cup in twenty twenty six. 228 00:13:14,559 --> 00:13:17,720 Speaker 2: In her latest conversation, she spoke with J. T. Batson, 229 00:13:18,040 --> 00:13:22,360 Speaker 2: he's CEO and Secretary General of the US Soccer Federation. 230 00:13:22,800 --> 00:13:25,840 Speaker 2: Let's listen in on that conversation as they look ahead 231 00:13:25,880 --> 00:13:29,319 Speaker 2: to the World Cup and to next weekends concer CAFF 232 00:13:29,559 --> 00:13:30,240 Speaker 2: Gold Cup. 233 00:13:31,360 --> 00:13:33,400 Speaker 8: So we are one year out from the start of 234 00:13:33,400 --> 00:13:36,840 Speaker 8: the twenty twenty six FIFA World Cup. I am so excited. 235 00:13:37,440 --> 00:13:39,920 Speaker 8: You know, how quickly has this come for you? Is it? 236 00:13:39,960 --> 00:13:41,520 Speaker 8: Is it right around the corner for you? Do you 237 00:13:41,600 --> 00:13:43,480 Speaker 8: feel or is it still a long way's way. 238 00:13:44,200 --> 00:13:44,760 Speaker 2: The way the. 239 00:13:44,920 --> 00:13:48,679 Speaker 5: Soccer calendar works, there's always something right on your doorstep, 240 00:13:48,720 --> 00:13:52,560 Speaker 5: and of course the Men's World Cup being here in 241 00:13:52,559 --> 00:13:55,600 Speaker 5: twenty twenty six is a huge moment. We're all incredibly 242 00:13:55,640 --> 00:13:59,880 Speaker 5: excited about it. You know, we joke a lot. The 243 00:14:00,000 --> 00:14:04,120 Speaker 5: soccer calendar never sleeps, and so you know, the team's 244 00:14:04,160 --> 00:14:06,680 Speaker 5: up for it, are organization's up for it, our fans 245 00:14:06,679 --> 00:14:08,160 Speaker 5: are up for it, and we're certainly excited. 246 00:14:08,600 --> 00:14:13,079 Speaker 8: It definitely is constantly populating the soccer calendar, for sure. 247 00:14:13,559 --> 00:14:15,840 Speaker 8: So Jat, you came into the federation just a few 248 00:14:15,840 --> 00:14:17,760 Speaker 8: months ahead of the twenty twenty two World Cup and 249 00:14:17,800 --> 00:14:21,000 Speaker 8: guitar and that must have been quite a busy first 250 00:14:21,000 --> 00:14:23,960 Speaker 8: few months. But now you're you're in it. You know, 251 00:14:24,000 --> 00:14:26,280 Speaker 8: you're in tune with the job and everything. So how 252 00:14:26,360 --> 00:14:28,720 Speaker 8: is this year going to be for you different for 253 00:14:28,840 --> 00:14:31,280 Speaker 8: you in going into twenty twenty six than it was 254 00:14:31,840 --> 00:14:32,640 Speaker 8: in twenty twenty two. 255 00:14:32,880 --> 00:14:37,000 Speaker 5: Well, the going into the twenty twenty two World Cup, 256 00:14:37,040 --> 00:14:39,920 Speaker 5: you know, I joined in September, Obviously the World Cup 257 00:14:40,000 --> 00:14:42,520 Speaker 5: was a few months after that. Those plans are long 258 00:14:42,600 --> 00:14:46,760 Speaker 5: baked before before two months out, and so you know, 259 00:14:46,800 --> 00:14:49,600 Speaker 5: as you think about the prep for next summer, you know, 260 00:14:50,160 --> 00:14:53,520 Speaker 5: Matt Crocker, a sporting director, working with Marizio Pocchettino and 261 00:14:53,920 --> 00:14:57,600 Speaker 5: staff planning out everything going into next summer. You know, 262 00:14:57,720 --> 00:15:02,120 Speaker 5: so that that work is very actively going on, and 263 00:15:02,200 --> 00:15:05,400 Speaker 5: everything from where's the team based during the World Cup 264 00:15:05,440 --> 00:15:08,280 Speaker 5: to what are the games you're playing to prepare to 265 00:15:09,560 --> 00:15:12,240 Speaker 5: all of the sort of logistics and everything we're doing, 266 00:15:12,400 --> 00:15:14,400 Speaker 5: you know, off the field as well to take full 267 00:15:14,440 --> 00:15:18,200 Speaker 5: advantage of this unique moment. So you know, I was, 268 00:15:18,960 --> 00:15:21,480 Speaker 5: you know, in Qatar, I was able to benefit from 269 00:15:21,480 --> 00:15:24,040 Speaker 5: all of that work, whereas in this instance, obviously we're 270 00:15:24,120 --> 00:15:26,200 Speaker 5: we're all knee deep in it, and with the World 271 00:15:26,240 --> 00:15:28,720 Speaker 5: Cup being here presents all sorts of new opportunities for 272 00:15:28,800 --> 00:15:33,200 Speaker 5: us to to really you know, seize the moment and 273 00:15:33,280 --> 00:15:35,800 Speaker 5: help transform what soccer looks like in this country. 274 00:15:35,840 --> 00:15:39,320 Speaker 8: Right exactly. I mean, there so much this This is 275 00:15:39,360 --> 00:15:42,600 Speaker 8: gonna be the biggest moment for soccer really in the 276 00:15:42,680 --> 00:15:45,480 Speaker 8: US ever, right because the last time we hosted a 277 00:15:45,480 --> 00:15:47,520 Speaker 8: World Cup, nineteen ninety four, we hosted a World Cup, 278 00:15:47,800 --> 00:15:50,800 Speaker 8: the MLS was on the cusp of being created because 279 00:15:50,800 --> 00:15:53,160 Speaker 8: of that World Cup, right, So how is this going 280 00:15:53,200 --> 00:15:56,840 Speaker 8: to be different because of everything that's on the line, 281 00:15:56,960 --> 00:16:00,360 Speaker 8: MLS and WSL, everything that can benefit from this time. 282 00:16:00,920 --> 00:16:04,360 Speaker 5: You know, in ninety four, we had aspirations of being 283 00:16:04,360 --> 00:16:07,520 Speaker 5: a soccer country. You know, you mentioned Major League Soccer 284 00:16:07,640 --> 00:16:09,960 Speaker 5: was sort of born out of the ninety four World Cup. 285 00:16:10,920 --> 00:16:13,520 Speaker 5: You know, nineteen ninety four World Cup is still the 286 00:16:13,560 --> 00:16:15,760 Speaker 5: most attended World Cup in history, even though it was 287 00:16:15,760 --> 00:16:18,920 Speaker 5: only twenty four teams. So you know, imagine forty eight 288 00:16:19,040 --> 00:16:22,960 Speaker 5: teams in next summer is going to shatter that record. 289 00:16:23,760 --> 00:16:25,640 Speaker 5: But I think as you think about where we are now, 290 00:16:25,680 --> 00:16:28,600 Speaker 5: we are a soccer country. They're over one hundred million 291 00:16:28,640 --> 00:16:31,120 Speaker 5: fans of the men's and women's national team. There are 292 00:16:31,680 --> 00:16:34,280 Speaker 5: more soccer games available to watch on television in the 293 00:16:34,400 --> 00:16:37,720 Speaker 5: US than any other country in the world. You've got 294 00:16:37,720 --> 00:16:40,800 Speaker 5: tens of millions of people playing. You've got an incredible 295 00:16:40,840 --> 00:16:44,200 Speaker 5: amount of commercial investment, success of Major League Soccer NWSL, 296 00:16:44,360 --> 00:16:47,840 Speaker 5: USL and sort of all forms of soccer in this country. 297 00:16:47,920 --> 00:16:50,680 Speaker 5: So you know, conceivably maybe twenty twenty six is when 298 00:16:50,680 --> 00:16:53,880 Speaker 5: the rest of the world learns that were a soccer country. 299 00:16:54,480 --> 00:16:57,080 Speaker 5: And so you know, for us, you know, the journey 300 00:16:57,080 --> 00:17:00,400 Speaker 5: from ninety four to twenty twenty six is one of 301 00:17:00,400 --> 00:17:05,320 Speaker 5: incredible growth and real maturity of the soccer market. And 302 00:17:05,320 --> 00:17:07,720 Speaker 5: and you know it's around how do we take that 303 00:17:07,760 --> 00:17:08,360 Speaker 5: to the next. 304 00:17:08,200 --> 00:17:11,120 Speaker 8: Level, in your opinion, how do we show the rest 305 00:17:11,160 --> 00:17:13,480 Speaker 8: of the world that we are a soccer country since 306 00:17:13,480 --> 00:17:14,960 Speaker 8: we are one of the hosts of the twenty twenty 307 00:17:14,960 --> 00:17:15,560 Speaker 8: six World Cup. 308 00:17:15,920 --> 00:17:18,480 Speaker 5: Well, first and foremost, you know, we have to have 309 00:17:18,560 --> 00:17:21,280 Speaker 5: a team that everyone believes in, and we have to 310 00:17:21,320 --> 00:17:25,240 Speaker 5: have a team that after every game you're proud of 311 00:17:25,240 --> 00:17:30,360 Speaker 5: their fight, you're proud of their performance, and you're excited 312 00:17:30,400 --> 00:17:32,760 Speaker 5: about the next opportunity for them to go win. 313 00:17:33,359 --> 00:17:33,560 Speaker 2: You know. 314 00:17:33,680 --> 00:17:37,879 Speaker 5: The one of the things that was very true in 315 00:17:37,960 --> 00:17:42,719 Speaker 5: Qatar was colleagues from around the world kept coming up 316 00:17:42,760 --> 00:17:45,160 Speaker 5: to me and some of my colleagues at US Soccer 317 00:17:45,200 --> 00:17:47,560 Speaker 5: is saying, wow, this US team look at you know, 318 00:17:47,720 --> 00:17:49,399 Speaker 5: look at you know, look at you guys, and they 319 00:17:49,400 --> 00:17:50,199 Speaker 5: weren't expecting that. 320 00:17:50,680 --> 00:17:52,600 Speaker 6: I think, what, of. 321 00:17:52,480 --> 00:17:53,960 Speaker 5: Course, we got to perform on the field, But I 322 00:17:53,960 --> 00:17:56,959 Speaker 5: think where our big opportunity is is for the millions 323 00:17:56,960 --> 00:17:59,760 Speaker 5: of people that come to America to experience the tens 324 00:17:59,760 --> 00:18:04,719 Speaker 5: of millions of fans here in America and their passion, 325 00:18:04,800 --> 00:18:08,480 Speaker 5: their love, their knowledge for the game, and helping them 326 00:18:09,280 --> 00:18:13,320 Speaker 5: really appreciate how deep and broad the sort of love 327 00:18:13,400 --> 00:18:16,400 Speaker 5: of soccer is in this country. And of course benefiting 328 00:18:16,440 --> 00:18:21,000 Speaker 5: from the amazing facilities and infrastructure and restaurants and hotels 329 00:18:21,280 --> 00:18:23,520 Speaker 5: and everything we have in the US that makes it 330 00:18:23,560 --> 00:18:27,119 Speaker 5: such an amazing place to witness a global sporting spectacle. 331 00:18:27,560 --> 00:18:30,879 Speaker 8: Are there any metrics in terms of, you know, growing 332 00:18:30,920 --> 00:18:35,840 Speaker 8: the game percentage wise by fans or viewership or in 333 00:18:35,880 --> 00:18:39,159 Speaker 8: terms of youth participation that you're looking at that it 334 00:18:39,240 --> 00:18:41,400 Speaker 8: stands now to where you want it to grow over 335 00:18:41,440 --> 00:18:41,960 Speaker 8: the next year. 336 00:18:43,240 --> 00:18:47,959 Speaker 5: So overall, US Soccer believes that we exist in service 337 00:18:48,000 --> 00:18:50,000 Speaker 5: to soccer. Our job is to support those who are 338 00:18:50,000 --> 00:18:52,560 Speaker 5: bringing soccer to life in communities all across the country, 339 00:18:53,000 --> 00:18:55,880 Speaker 5: you know, and those folks have three shared ambitions. They 340 00:18:55,880 --> 00:18:58,200 Speaker 5: want soccer everywhere, so they want everyone in the country 341 00:18:58,240 --> 00:19:00,560 Speaker 5: to be able to experience the joy of soccer. They 342 00:19:00,560 --> 00:19:02,119 Speaker 5: want our teams to win, so they of course want 343 00:19:02,160 --> 00:19:04,080 Speaker 5: our national teams, they want our pro clubs to win 344 00:19:04,119 --> 00:19:08,320 Speaker 5: on the world stage, and they want to maximize investment 345 00:19:08,320 --> 00:19:10,479 Speaker 5: in the sport at all levels. So that's commercial investment, 346 00:19:10,480 --> 00:19:14,520 Speaker 5: philanthropic investment, government support, private capital coming in. And so 347 00:19:14,920 --> 00:19:19,160 Speaker 5: as we think about the opportunity of Club World Cup 348 00:19:19,200 --> 00:19:22,400 Speaker 5: in twenty five, Men's World Cup in twenty six, Olympics 349 00:19:22,400 --> 00:19:24,600 Speaker 5: in twenty eight, and US being the sole bidders for 350 00:19:24,720 --> 00:19:27,560 Speaker 5: the Women's World Cup in twenty thirty one, there's a 351 00:19:27,640 --> 00:19:30,480 Speaker 5: really unique opportunity for us to move the needle across 352 00:19:30,560 --> 00:19:33,480 Speaker 5: all three of those shared ambitions, and as we think 353 00:19:33,520 --> 00:19:39,360 Speaker 5: about what that means, we launch the Soccer Ford Foundation 354 00:19:40,480 --> 00:19:43,480 Speaker 5: to drive more access to soccer, to make it to 355 00:19:43,520 --> 00:19:46,440 Speaker 5: where everyone in this country can walk, ride their bike 356 00:19:46,520 --> 00:19:48,720 Speaker 5: or take public transit to a safe place to play soccer. 357 00:19:48,760 --> 00:19:50,680 Speaker 5: To make it to where soccer is in every school 358 00:19:51,359 --> 00:19:55,399 Speaker 5: in this country. We've launched the US Way, which is 359 00:19:55,440 --> 00:19:59,080 Speaker 5: our comprehensive strategy to ensure our teams win, to focus 360 00:19:59,160 --> 00:20:01,960 Speaker 5: on all levels of the game to set our teams 361 00:20:02,000 --> 00:20:05,080 Speaker 5: up for success in these big moments. And of course, 362 00:20:05,080 --> 00:20:08,720 Speaker 5: from an investment standpoint, think about the investment that's going 363 00:20:08,760 --> 00:20:12,880 Speaker 5: on at all levels of our game, whether it's infrastructure, 364 00:20:12,920 --> 00:20:16,240 Speaker 5: building facilities, our new arthroom blank US Soccer National Training 365 00:20:16,280 --> 00:20:18,880 Speaker 5: Center in Atlanta, almost a two hundred acre project, first 366 00:20:18,920 --> 00:20:22,080 Speaker 5: ever national training center and headquarters for US Soccer. It'll 367 00:20:22,080 --> 00:20:24,840 Speaker 5: be the best in the world when it opens next year. 368 00:20:25,560 --> 00:20:30,520 Speaker 5: To the investments in the professional leagues, the investments in 369 00:20:32,080 --> 00:20:35,399 Speaker 5: all of the infrastructure, the digital infrastructure that US Soccer 370 00:20:35,480 --> 00:20:37,760 Speaker 5: is doing around supporting the rest of the soccer ecosystem. 371 00:20:38,440 --> 00:20:41,280 Speaker 5: So this is a very very very important time for 372 00:20:41,400 --> 00:20:44,480 Speaker 5: us to take advantage of the growth of our sport, 373 00:20:44,600 --> 00:20:48,040 Speaker 5: the momentum and the focus and if anything, we are 374 00:20:48,119 --> 00:20:51,320 Speaker 5: thinking about using twenty six twenty eight thirty one sort 375 00:20:51,320 --> 00:20:53,600 Speaker 5: of forcing functions to get people to take big, bold 376 00:20:53,680 --> 00:20:56,520 Speaker 5: steps forward around transforming what the sport can look like. 377 00:20:57,040 --> 00:21:02,160 Speaker 8: And is that looking to get investors and the stakeholders 378 00:21:02,200 --> 00:21:05,240 Speaker 8: in leagues and things like that, those are those the 379 00:21:05,240 --> 00:21:08,080 Speaker 8: people you're looking at to take big, big swings and 380 00:21:08,119 --> 00:21:10,520 Speaker 8: big you know, things like you just said, Like I mean, 381 00:21:10,560 --> 00:21:12,440 Speaker 8: you guys obviously had a lot of investment this year. 382 00:21:13,040 --> 00:21:16,359 Speaker 8: The Ken Griffin Donation made a lot of headlines this 383 00:21:16,440 --> 00:21:21,639 Speaker 8: year and helping with Merchu Po Chattino getting hired as 384 00:21:21,720 --> 00:21:23,800 Speaker 8: US men's national team coach, and then obviously, like you 385 00:21:23,840 --> 00:21:28,040 Speaker 8: mentioned Arthur Blank in that training facility. Michelle Kang Big Donations. 386 00:21:28,560 --> 00:21:30,879 Speaker 8: Talk to us a little bit about those specific people 387 00:21:30,880 --> 00:21:33,879 Speaker 8: and investors that you're looking at to help grow and 388 00:21:34,760 --> 00:21:37,639 Speaker 8: the role that philanthropy plays for US soccer. 389 00:21:38,640 --> 00:21:42,080 Speaker 5: So when you think about US Soccer, one, you know 390 00:21:42,119 --> 00:21:45,280 Speaker 5: analogy for folks who are listening. In terms of our 391 00:21:45,400 --> 00:21:48,160 Speaker 5: sort of businesses, we've got almost like a pro sports 392 00:21:48,440 --> 00:21:49,280 Speaker 5: part of our business. 393 00:21:49,280 --> 00:21:50,240 Speaker 6: Those are our national teams. 394 00:21:50,280 --> 00:21:52,800 Speaker 5: We have twenty seven national teams, most known for our 395 00:21:52,800 --> 00:21:54,880 Speaker 5: men's and women's national teams, but those sort of resemble 396 00:21:54,920 --> 00:21:58,480 Speaker 5: a pro sports organization. We have a trade association type 397 00:21:58,480 --> 00:22:02,960 Speaker 5: of business, think of coaching, education, referee certification and licensing, 398 00:22:04,280 --> 00:22:07,960 Speaker 5: sort of promoting a health and safe and positive ecosystem 399 00:22:08,160 --> 00:22:11,639 Speaker 5: type of work. And we have the Impact arm Soccer 400 00:22:11,680 --> 00:22:14,720 Speaker 5: Ford Foundation, which is around accessibility and ensuring our game 401 00:22:14,800 --> 00:22:18,080 Speaker 5: can be everywhere for everyone. And so as you you 402 00:22:18,119 --> 00:22:22,560 Speaker 5: think about investment, those come in different forms depending on 403 00:22:22,600 --> 00:22:25,240 Speaker 5: which of those businesses your your business lines you're you're 404 00:22:25,280 --> 00:22:29,840 Speaker 5: talking about and as you think about US Soccer at 405 00:22:29,840 --> 00:22:33,680 Speaker 5: the organization, you know, we've had incredible success over the 406 00:22:33,760 --> 00:22:39,160 Speaker 5: last two years UH launching our commercial rights business. We 407 00:22:40,280 --> 00:22:42,200 Speaker 5: have been able to partner with some of the great 408 00:22:42,240 --> 00:22:45,240 Speaker 5: brands in the world, from Nike to Bank of America, 409 00:22:45,359 --> 00:22:48,080 Speaker 5: to Coca Cola, to Visa to you know, and and 410 00:22:48,080 --> 00:22:52,720 Speaker 5: and to where we have you know, grown revenue had 411 00:22:53,280 --> 00:22:55,840 Speaker 5: a really impressive clip over the last couple of years 412 00:22:55,880 --> 00:22:58,760 Speaker 5: from people who believe in our vision, believe in our mission, 413 00:22:58,960 --> 00:23:03,719 Speaker 5: and believe in and the opportunity to use soccer as 414 00:23:03,760 --> 00:23:05,680 Speaker 5: a force for good in their relationship with the US 415 00:23:05,720 --> 00:23:08,400 Speaker 5: Soccer to bring that to life. We also have had 416 00:23:08,560 --> 00:23:13,280 Speaker 5: incredible success from a philanthropic standpoint. You know, you mentioned, 417 00:23:13,520 --> 00:23:16,280 Speaker 5: you know, the support from Arthur and Blank, from Michelle Kang, 418 00:23:16,280 --> 00:23:20,600 Speaker 5: from Ken Griffin and others who believe that, you know, 419 00:23:20,800 --> 00:23:23,359 Speaker 5: US Soccer can go do big things. You know, Unlike 420 00:23:23,359 --> 00:23:26,800 Speaker 5: our peers US Soccer around the world, US Soccer receives 421 00:23:26,800 --> 00:23:31,520 Speaker 5: no government support directly. UH. And so you know, philanthropic 422 00:23:32,160 --> 00:23:36,440 Speaker 5: support is a unique American thing and it's something that 423 00:23:36,560 --> 00:23:39,000 Speaker 5: you know, we want to embrace as we are trying 424 00:23:39,000 --> 00:23:40,840 Speaker 5: to go be best in the world, and so why 425 00:23:40,840 --> 00:23:44,320 Speaker 5: not use what America's great at uh. And so we've 426 00:23:44,359 --> 00:23:46,719 Speaker 5: been very fortunate to have people who believe in our 427 00:23:47,400 --> 00:23:50,000 Speaker 5: overall mission and believe in our ability to go do 428 00:23:50,080 --> 00:23:53,399 Speaker 5: big things and being great stewards of their money. And 429 00:23:53,440 --> 00:23:56,479 Speaker 5: so we're we're excited about about what that looks like. Then, 430 00:23:56,520 --> 00:23:59,320 Speaker 5: more broadly, we care about what's the health of the 431 00:23:59,359 --> 00:24:03,280 Speaker 5: soccer eCos system in this country. Our investors stepping up 432 00:24:03,280 --> 00:24:06,520 Speaker 5: to invest in professional teams. Absolutely, you're seeing that every 433 00:24:06,560 --> 00:24:12,400 Speaker 5: day on the MLS, NWSL and USL side. Our governments 434 00:24:12,560 --> 00:24:16,680 Speaker 5: investing in making soccer more accessible in their communities. Every week, 435 00:24:16,760 --> 00:24:19,600 Speaker 5: new communities across the country opening up new soccer facilities, 436 00:24:19,600 --> 00:24:24,199 Speaker 5: whether they're big you know, soccer complexes or sort of 437 00:24:24,280 --> 00:24:29,240 Speaker 5: small fields or spaces to play in denser areas. Soccer 438 00:24:29,280 --> 00:24:33,480 Speaker 5: in schools are expanding rapidly, you know, thanks to school 439 00:24:33,480 --> 00:24:37,840 Speaker 5: districts investing in soccer is an incredibly accessible sport, very 440 00:24:37,920 --> 00:24:42,560 Speaker 5: high our ROI to achieve health outcomes and positive community outcomes. 441 00:24:42,560 --> 00:24:45,080 Speaker 5: So as we think about sort of investment, we take 442 00:24:45,080 --> 00:24:47,679 Speaker 5: a very broad lens on that and it's it's something 443 00:24:47,760 --> 00:24:50,240 Speaker 5: that you know. Across the board, we're seeing you know, growth, 444 00:24:50,240 --> 00:24:51,760 Speaker 5: growth and more growth. 445 00:24:51,680 --> 00:24:55,800 Speaker 2: At US Soccer Federation CEO and Secretary General j T. 446 00:24:56,080 --> 00:24:59,760 Speaker 2: Bats and speaking with our own Vanessa Pernomo. Soccer fans 447 00:24:59,800 --> 00:25:02,879 Speaker 2: may make sure you subscribe now to The Bloomberg Business 448 00:25:02,920 --> 00:25:06,359 Speaker 2: of Sports on your favorite podcast platform. Vanessa will be 449 00:25:06,440 --> 00:25:10,080 Speaker 2: having conversations with some of the biggest names in soccer 450 00:25:10,280 --> 00:25:13,040 Speaker 2: as we anticipate the US hosting the twenty twenty six 451 00:25:13,119 --> 00:25:16,040 Speaker 2: feet of World Cup. Never miss a conversation with an 452 00:25:16,040 --> 00:25:19,119 Speaker 2: athlete who would take the field, or an executive or 453 00:25:19,200 --> 00:25:23,200 Speaker 2: stakeholder helping to make it happen behind the scenes. Up next, 454 00:25:23,240 --> 00:25:25,960 Speaker 2: we turn to the world of basketball and how Toronto 455 00:25:26,040 --> 00:25:30,520 Speaker 2: Raptors Vice chairman and President Massi you Jerry put it 456 00:25:30,560 --> 00:25:33,760 Speaker 2: all together. I'm Michael Barr, and you are listening to 457 00:25:33,760 --> 00:25:37,360 Speaker 2: the Bloomberg Business of Sports from Bloomberger Radio around the world. 458 00:25:41,960 --> 00:25:45,960 Speaker 1: This is Bloomberg Business of Sports from Bloomberg Radio. 459 00:25:47,119 --> 00:25:49,600 Speaker 2: Thanks for joining us on the Bloomberg Business of Sports, 460 00:25:49,600 --> 00:25:51,880 Speaker 2: where we explore the big money issues in the world 461 00:25:51,920 --> 00:25:55,800 Speaker 2: of sports. I'm Michael Barr. Join now by Bloomberg Original's 462 00:25:55,880 --> 00:25:59,720 Speaker 2: Chief correspondent Jason Kelly the sign you. Jerry is vice 463 00:25:59,800 --> 00:26:04,760 Speaker 2: chairman and president of the NBA's Toronto Raptors, but basketball 464 00:26:04,840 --> 00:26:08,160 Speaker 2: runs even deeper for him than that. He's co founder 465 00:26:08,200 --> 00:26:11,520 Speaker 2: of Giants of Africa, and initiative that uses the sport 466 00:26:11,560 --> 00:26:14,800 Speaker 2: to empower young people in Africa. Here now to talk 467 00:26:14,840 --> 00:26:19,040 Speaker 2: with us about Giants of Africa, the state of the sport, 468 00:26:19,160 --> 00:26:24,000 Speaker 2: the NBA and more, is mister you, Jerry Massi. Welcome 469 00:26:24,040 --> 00:26:25,879 Speaker 2: to the Bloomberg Business of Sports. 470 00:26:26,359 --> 00:26:28,600 Speaker 6: Thank you, Michael, Thank you Jason, Thank you guys for 471 00:26:28,640 --> 00:26:29,080 Speaker 6: having me. 472 00:26:29,359 --> 00:26:31,840 Speaker 9: Well, Michael, I'm so excited that Massia is here. I mean, 473 00:26:31,880 --> 00:26:33,080 Speaker 9: this is a guy I've gotten to know over the 474 00:26:33,160 --> 00:26:36,280 Speaker 9: last couple of years, and you know, his impact on 475 00:26:36,920 --> 00:26:40,919 Speaker 9: the sport of basketball globally is massive. As you know, 476 00:26:41,000 --> 00:26:43,399 Speaker 9: you and I have talked about this, and you know, Massi, 477 00:26:43,440 --> 00:26:45,800 Speaker 9: we're so happy to have you here. We're on the 478 00:26:45,840 --> 00:26:48,080 Speaker 9: eve of the finals as we talk. How do you 479 00:26:48,080 --> 00:26:50,320 Speaker 9: sum up this season in terms of the business of 480 00:26:50,359 --> 00:26:50,800 Speaker 9: the NBA. 481 00:26:51,040 --> 00:26:53,400 Speaker 6: I think, in my apstart is slow, but I think 482 00:26:53,480 --> 00:26:56,560 Speaker 6: Adam Silva has done an incredible job and creating parodying 483 00:26:56,640 --> 00:27:00,080 Speaker 6: this league. We see what the finals is and we 484 00:27:00,080 --> 00:27:04,480 Speaker 6: saw our competitive playoffs very fun to watch. Now we 485 00:27:04,600 --> 00:27:09,760 Speaker 6: have two small market teams playing in playing in the finals. Yeah, 486 00:27:09,840 --> 00:27:10,840 Speaker 6: I think it's interesting. 487 00:27:11,320 --> 00:27:15,120 Speaker 2: You've got a busy schedule coming up because you've got 488 00:27:15,119 --> 00:27:17,640 Speaker 2: to get ready for the NBA Draft. Now, you don't 489 00:27:17,680 --> 00:27:19,879 Speaker 2: have to tell anybody man. In fact, you can just 490 00:27:19,920 --> 00:27:23,000 Speaker 2: tell us keeping in here, are you guys looking at LJ. 491 00:27:23,160 --> 00:27:26,720 Speaker 2: Cryer Man? Because Lo's good. You don't have to just 492 00:27:27,280 --> 00:27:28,480 Speaker 2: you know, just give me that wink. 493 00:27:28,600 --> 00:27:31,120 Speaker 6: That's all I get you to scout him. 494 00:27:34,000 --> 00:27:36,119 Speaker 9: This goes to sort of the broader question too, of 495 00:27:36,200 --> 00:27:39,000 Speaker 9: sort of the talent in the NBA right now. You're 496 00:27:39,000 --> 00:27:42,080 Speaker 9: a businessman at heart, like as you look around the 497 00:27:42,119 --> 00:27:44,280 Speaker 9: sort of global talent pool, like, what are you seeing 498 00:27:44,320 --> 00:27:46,960 Speaker 9: out there in terms of you know, the players that 499 00:27:47,000 --> 00:27:50,520 Speaker 9: are developing where they're coming from. The Raptors under your 500 00:27:50,600 --> 00:27:53,200 Speaker 9: leadership really have become a sort of a global team, 501 00:27:53,240 --> 00:27:56,119 Speaker 9: which sort of speaks to this broader sort of macro trend. 502 00:27:56,400 --> 00:27:58,520 Speaker 9: What are you seeing in terms of global talent right now? 503 00:27:58,640 --> 00:28:03,399 Speaker 6: But you know, talent is is everywhere because of not 504 00:28:03,560 --> 00:28:07,040 Speaker 6: only the genius of the NBA being a global brand 505 00:28:07,119 --> 00:28:13,920 Speaker 6: and it's extended its wings into all corners of the world, Africa, Asia, 506 00:28:14,119 --> 00:28:20,120 Speaker 6: South America and Europe. And also because of this handset 507 00:28:20,240 --> 00:28:24,760 Speaker 6: we carry everywhere the globe, the game is so attainable 508 00:28:24,800 --> 00:28:28,359 Speaker 6: for every young kid around the world. So the chance 509 00:28:28,400 --> 00:28:31,200 Speaker 6: for kids to play. I always tell people my son 510 00:28:31,560 --> 00:28:33,720 Speaker 6: learned how to do the step back. It wasn't coach 511 00:28:33,800 --> 00:28:36,360 Speaker 6: to do it. He just saw it. Like watching all 512 00:28:36,359 --> 00:28:39,320 Speaker 6: these guys on the screen. But you look at the 513 00:28:39,400 --> 00:28:43,360 Speaker 6: landscape of the NBA, there's players in America, players in Europe, 514 00:28:43,400 --> 00:28:46,480 Speaker 6: plays in Africa or everybody make an impact. It's a 515 00:28:46,520 --> 00:28:48,720 Speaker 6: time in the league where you know, we really have 516 00:28:48,760 --> 00:28:51,800 Speaker 6: to think about the young players coming up because at 517 00:28:51,800 --> 00:28:53,600 Speaker 6: some point there's going to be a change of guard, 518 00:28:53,720 --> 00:28:56,200 Speaker 6: you know, like and I think the league is set 519 00:28:56,280 --> 00:28:58,640 Speaker 6: up well with a really good young player. 520 00:28:59,000 --> 00:29:02,880 Speaker 9: Part of what you've done, Massai through Giants of Africa 521 00:29:03,360 --> 00:29:06,960 Speaker 9: is create this incredible pipeline for talent on the court, 522 00:29:07,080 --> 00:29:09,480 Speaker 9: off the court, et cetera. Tell us about Giants of 523 00:29:09,520 --> 00:29:11,960 Speaker 9: Africa sort of the state of play twenty two years. 524 00:29:11,960 --> 00:29:15,040 Speaker 9: I believe into a big festival coming up, but help 525 00:29:15,080 --> 00:29:16,920 Speaker 9: our listeners understand what Giants of Africa is. 526 00:29:17,080 --> 00:29:19,720 Speaker 6: We started a basketball camp twenty two years ago and 527 00:29:19,840 --> 00:29:22,800 Speaker 6: it was started just from the basic teaching of kids, 528 00:29:22,960 --> 00:29:26,600 Speaker 6: basic fundamentals of the game. Fifty kids in Nigeria. I 529 00:29:26,680 --> 00:29:30,120 Speaker 6: modeled it out of Basketball Without Borders with the NBA 530 00:29:30,360 --> 00:29:33,080 Speaker 6: and I was the director of Basketball with out Borders. 531 00:29:33,120 --> 00:29:35,520 Speaker 6: And I saw what the NBA was doing in South 532 00:29:35,520 --> 00:29:37,920 Speaker 6: Africa bringing all these kids together, and I said, I'll 533 00:29:37,960 --> 00:29:40,600 Speaker 6: start doing that in my own country in Nigeria and 534 00:29:41,160 --> 00:29:43,800 Speaker 6: started to grow beyond, you know, I took it to 535 00:29:43,840 --> 00:29:47,680 Speaker 6: my mom's country, Kenya. It started to increase, not only 536 00:29:47,720 --> 00:29:51,840 Speaker 6: in countries, but we started thinking all the things while preaching, 537 00:29:51,920 --> 00:29:54,720 Speaker 6: you know, like with kids with life skills, being honest, 538 00:29:54,840 --> 00:29:58,800 Speaker 6: being on time, empowering women. And I'll start talking about 539 00:29:58,840 --> 00:30:01,479 Speaker 6: women and I'm like, okay, not doing those things that 540 00:30:01,560 --> 00:30:04,520 Speaker 6: empower women, which is doing a women's camp too. So 541 00:30:04,600 --> 00:30:07,120 Speaker 6: I introduced girls camp and it became a boys and 542 00:30:07,240 --> 00:30:11,120 Speaker 6: girls camp, which really took off. And then we started 543 00:30:11,160 --> 00:30:13,760 Speaker 6: going into tough areas in the continent, you know, kids 544 00:30:13,760 --> 00:30:18,320 Speaker 6: that don't have that much opportunity, slumps, refugee camps or 545 00:30:18,320 --> 00:30:22,640 Speaker 6: torn areas, and really started to affect maybe some of 546 00:30:22,640 --> 00:30:26,080 Speaker 6: those kids that don't have as much opportunity growing, you know. 547 00:30:26,160 --> 00:30:28,920 Speaker 2: I think one of the neatest things that you have 548 00:30:29,160 --> 00:30:32,760 Speaker 2: ever done. You guys won the championship Toronto Raptors in 549 00:30:32,800 --> 00:30:37,240 Speaker 2: twenty nineteen. You took the Larry O'Brien Trophy to Africa 550 00:30:37,360 --> 00:30:40,240 Speaker 2: to show the kids there is like, hey, this is 551 00:30:40,320 --> 00:30:44,640 Speaker 2: what we played for. Now you've developed almost more than 552 00:30:44,640 --> 00:30:48,560 Speaker 2: one hundred basketball courts in Africa. Tell us more about. 553 00:30:48,360 --> 00:30:51,400 Speaker 6: That the camps. Eventually, I started to get bigger as 554 00:30:51,400 --> 00:30:53,880 Speaker 6: it started to get bigger and we traveled to other countries, 555 00:30:53,920 --> 00:30:57,520 Speaker 6: started growing in countries, you start to discover that infrastructure 556 00:30:57,560 --> 00:31:01,719 Speaker 6: becomes a problem where the kids playing potholed courts, you know, 557 00:31:01,880 --> 00:31:04,960 Speaker 6: like geams that are not well kept. And it became 558 00:31:05,000 --> 00:31:07,680 Speaker 6: a priority for me, you know, like to see that 559 00:31:07,880 --> 00:31:11,120 Speaker 6: this kid's playing with better courts, better grounds, you know, 560 00:31:11,200 --> 00:31:16,560 Speaker 6: better facilities and provide balls. Thank you to Nike and 561 00:31:16,600 --> 00:31:19,920 Speaker 6: all the sponsors that we've had to give the kids 562 00:31:20,200 --> 00:31:23,040 Speaker 6: some of the kid that they've needed to play the game. 563 00:31:23,120 --> 00:31:25,440 Speaker 6: And we made a pledge to build one hundred courts 564 00:31:25,480 --> 00:31:29,080 Speaker 6: around the continent and that became real. We started doing 565 00:31:29,120 --> 00:31:32,000 Speaker 6: it and we're growing with I think almost at forty 566 00:31:32,040 --> 00:31:35,360 Speaker 6: courts now. We build them well, we secure them we 567 00:31:35,400 --> 00:31:37,800 Speaker 6: have make sure they are programs running on these courts, 568 00:31:37,840 --> 00:31:41,920 Speaker 6: which is important. Women. I included, the communities, included schools, 569 00:31:41,960 --> 00:31:45,720 Speaker 6: I included. It took off, and I thank the NBA 570 00:31:45,960 --> 00:31:49,720 Speaker 6: for having this foresight, you know, giving me also opportunity 571 00:31:49,800 --> 00:31:52,240 Speaker 6: working in the NBA. Is he has been a huge 572 00:31:52,240 --> 00:31:54,880 Speaker 6: opportunity to go and do this. You take coaches back, 573 00:31:54,960 --> 00:31:58,600 Speaker 6: you take so many aspects you know that come into 574 00:31:58,640 --> 00:32:02,280 Speaker 6: play here one big family. You try to grow the 575 00:32:02,320 --> 00:32:04,760 Speaker 6: game all over the continent. You try to learn and 576 00:32:04,840 --> 00:32:07,800 Speaker 6: learn as much as you can. You help other youth, 577 00:32:07,880 --> 00:32:12,040 Speaker 6: you help other coaches, other people, and you continue to 578 00:32:12,120 --> 00:32:15,600 Speaker 6: grow and you start to think about this ecosystem which 579 00:32:16,120 --> 00:32:19,520 Speaker 6: is educational in my opinion, you know, to get this 580 00:32:19,720 --> 00:32:23,600 Speaker 6: kid thinking as sports, even broader sports as a business. 581 00:32:23,680 --> 00:32:26,680 Speaker 6: You know, sports as you do only see it in 582 00:32:26,760 --> 00:32:31,600 Speaker 6: Africa as recreation and competition, you can also see it 583 00:32:31,640 --> 00:32:35,920 Speaker 6: as a business and a career path for you. Just 584 00:32:35,920 --> 00:32:38,320 Speaker 6: look at me. Yes, I didn't play in the NBA. 585 00:32:38,560 --> 00:32:41,280 Speaker 6: I wasn't good enough to even play in high division 586 00:32:41,320 --> 00:32:45,480 Speaker 6: in Europe, you know, but my scouting background, business, all 587 00:32:45,520 --> 00:32:48,440 Speaker 6: those things, you know, really gave me this opportunity to 588 00:32:48,480 --> 00:32:51,320 Speaker 6: be sitting down here and talking to you here at Boomberg. 589 00:32:51,400 --> 00:32:55,880 Speaker 2: Yeah, you haven't seen me play. I was playing golf stort. 590 00:32:55,960 --> 00:32:57,680 Speaker 6: I was going to tell you, Michael, we're going to 591 00:32:57,800 --> 00:33:01,200 Speaker 6: draft you. I'm looking at you. 592 00:33:03,360 --> 00:33:05,440 Speaker 9: So So, Michael, I had a chance, you know, a 593 00:33:05,440 --> 00:33:07,680 Speaker 9: couple of years ago to go to the Giants of 594 00:33:07,680 --> 00:33:11,880 Speaker 9: African Festival, you know in Kagali. You know, they're running 595 00:33:11,880 --> 00:33:15,400 Speaker 9: it back this year, Massia and his team and so 596 00:33:16,360 --> 00:33:19,239 Speaker 9: you know it and it's an unbelievable gathering of you know, 597 00:33:19,680 --> 00:33:23,960 Speaker 9: youth teams from across the continent, you know, convening there 598 00:33:24,000 --> 00:33:28,120 Speaker 9: in Rwanda. You're doing it again Massida this coming year. 599 00:33:28,840 --> 00:33:30,360 Speaker 9: How do you level that up? I mean, it was 600 00:33:30,400 --> 00:33:32,720 Speaker 9: such a it was such an amazing scene, you know, 601 00:33:33,400 --> 00:33:36,320 Speaker 9: I remember so vividly, like being at the closing concert 602 00:33:36,400 --> 00:33:39,840 Speaker 9: with the Davido and Tyla, I mean, and then there 603 00:33:39,880 --> 00:33:43,240 Speaker 9: was all this basketball happening as well. But the festival 604 00:33:43,360 --> 00:33:47,480 Speaker 9: nature of it speaks to I think this ecosystem that 605 00:33:47,760 --> 00:33:50,600 Speaker 9: you're talking about that that's created around sports. So tell 606 00:33:50,680 --> 00:33:53,640 Speaker 9: us about this version of the festival and what you're 607 00:33:53,680 --> 00:33:55,400 Speaker 9: expecting and what the big goals are. 608 00:33:56,000 --> 00:34:02,160 Speaker 6: You know, we're celebrating twenty years to two years ago, Jason, 609 00:34:02,200 --> 00:34:04,000 Speaker 6: when we were there, and it was a big thing 610 00:34:04,080 --> 00:34:06,840 Speaker 6: that we thought about, how do we make the twentieth 611 00:34:06,880 --> 00:34:10,760 Speaker 6: year really big? It was supposed to be a one off, right, yeah. 612 00:34:10,840 --> 00:34:15,240 Speaker 6: And I always go by what coach Casey doing. Casey 613 00:34:15,320 --> 00:34:18,359 Speaker 6: always says when you do something good, he always says, 614 00:34:18,400 --> 00:34:21,040 Speaker 6: you told on yourself. That means you can't do it again. 615 00:34:22,640 --> 00:34:26,080 Speaker 6: So we told on ourselves. And I wasn't planning to 616 00:34:26,160 --> 00:34:28,839 Speaker 6: do it, you know, like for many years to come. 617 00:34:28,880 --> 00:34:32,600 Speaker 6: But it was so good, you know, to have about 618 00:34:32,600 --> 00:34:36,560 Speaker 6: three hundred kids come together, you know, from all parts 619 00:34:36,600 --> 00:34:39,960 Speaker 6: of the world. We want to redefine what Africa is. 620 00:34:40,040 --> 00:34:45,359 Speaker 6: And one of the themes of that is how does 621 00:34:45,440 --> 00:34:49,239 Speaker 6: Africa become borderless? And it starts with our youth. You know. 622 00:34:50,040 --> 00:34:54,560 Speaker 6: Sometimes people don't understand that Africa is. It is a continent, 623 00:34:54,680 --> 00:34:58,120 Speaker 6: not a country, you know, so different countries have their 624 00:34:58,200 --> 00:35:02,120 Speaker 6: rules and regulations and sometimes times that creates some sort 625 00:35:02,120 --> 00:35:05,040 Speaker 6: of boundaries, you know, And how do we bring it together? 626 00:35:05,239 --> 00:35:09,040 Speaker 6: You know, the cultures, the languages, the food, the it's 627 00:35:09,080 --> 00:35:11,720 Speaker 6: all unique, you know, but it can all come together 628 00:35:11,760 --> 00:35:14,399 Speaker 6: in some kind of way. And that's what the festival did, 629 00:35:14,560 --> 00:35:16,160 Speaker 6: you know, bringing these kids together. 630 00:35:16,360 --> 00:35:21,600 Speaker 2: Well on the fifteenth anniversary this it was spectacularly. You 631 00:35:21,680 --> 00:35:26,200 Speaker 2: had former President Barack Obama there. It helped to kick 632 00:35:26,200 --> 00:35:29,680 Speaker 2: off this festival that had to be a special treat. 633 00:35:29,960 --> 00:35:33,319 Speaker 6: Yeah, So having him, we we went to we went 634 00:35:33,400 --> 00:35:36,760 Speaker 6: to Alego and we built one of our first courts 635 00:35:37,239 --> 00:35:39,759 Speaker 6: and opened it with President Obama. We built it for 636 00:35:40,560 --> 00:35:46,920 Speaker 6: Auma Obama uh in Saudi ko and in Kenya. And 637 00:35:47,440 --> 00:35:50,759 Speaker 6: it's always incredible to have to work with him and 638 00:35:50,880 --> 00:35:53,440 Speaker 6: worked with him for for for a while as a 639 00:35:53,480 --> 00:35:58,719 Speaker 6: dear friend and mentor, and it be he's just so 640 00:35:58,880 --> 00:36:02,280 Speaker 6: knowledgeable about the world, old about and loves basketball. 641 00:36:02,320 --> 00:36:04,160 Speaker 3: And he's a hooper. 642 00:36:04,800 --> 00:36:11,440 Speaker 6: He's a he really should own a team, his his 643 00:36:11,800 --> 00:36:17,759 Speaker 6: his very We know, you never see somebody that that 644 00:36:17,920 --> 00:36:21,160 Speaker 6: knows so much about a lot of things, you know, 645 00:36:21,280 --> 00:36:25,879 Speaker 6: and does it so humbly, you know. But having him 646 00:36:26,280 --> 00:36:29,319 Speaker 6: being part of Giants of Africa is always as will 647 00:36:29,360 --> 00:36:34,000 Speaker 6: always be special to us. And it's one of those 648 00:36:34,080 --> 00:36:37,440 Speaker 6: reasons while always trying to like do even. 649 00:36:37,239 --> 00:36:39,759 Speaker 2: More, I know the sands of the hour glass hour 650 00:36:39,840 --> 00:36:42,880 Speaker 2: against us, but I do want I ask one question 651 00:36:42,920 --> 00:36:47,400 Speaker 2: before we wrap up. And Adam Silver, NBA Commissioner, just 652 00:36:47,719 --> 00:36:53,240 Speaker 2: recently affirmed that they are going to start a new tournament, 653 00:36:53,480 --> 00:36:56,160 Speaker 2: the n B a versus the World. They're going to 654 00:36:56,200 --> 00:37:00,520 Speaker 2: scrap the mini tournament that they had around in the 655 00:37:00,560 --> 00:37:01,360 Speaker 2: All Star break. 656 00:37:02,080 --> 00:37:06,480 Speaker 6: Your thoughts about that, you know, He's always been known 657 00:37:06,520 --> 00:37:10,520 Speaker 6: for being very creative, you know, and open minded. That's 658 00:37:10,880 --> 00:37:15,359 Speaker 6: known him for twenty two how many years now, been 659 00:37:15,440 --> 00:37:18,520 Speaker 6: in this business, and that's how his mind works. But 660 00:37:18,719 --> 00:37:21,719 Speaker 6: it's also the minds of everybody he listens to, which 661 00:37:21,800 --> 00:37:23,839 Speaker 6: is the whole league and the whole world in some 662 00:37:23,960 --> 00:37:28,880 Speaker 6: kind of way, and his team and I think I 663 00:37:29,000 --> 00:37:32,040 Speaker 6: always try to get this league right, you know, and 664 00:37:32,080 --> 00:37:35,880 Speaker 6: I think we I'm open for ideas because you have 665 00:37:35,960 --> 00:37:38,400 Speaker 6: to innovate in this league, you know, like, yes, you 666 00:37:38,480 --> 00:37:41,360 Speaker 6: have to figure out what history is and what you 667 00:37:41,440 --> 00:37:43,440 Speaker 6: want to carry on for a long time, but you 668 00:37:43,520 --> 00:37:48,160 Speaker 6: also have to innovate and make things spicy in our league, 669 00:37:48,239 --> 00:37:50,719 Speaker 6: you know, as the NBA is a drama league, you know, 670 00:37:50,840 --> 00:37:53,359 Speaker 6: like and we love it and and that's why we 671 00:37:54,480 --> 00:37:58,480 Speaker 6: It always rises to the occasion, you know, And I'm 672 00:37:58,600 --> 00:38:00,439 Speaker 6: incredibly grateful to be a part of it. 673 00:38:00,560 --> 00:38:03,319 Speaker 2: Thanks to Messi U Jerry for joining us. He of 674 00:38:03,360 --> 00:38:06,880 Speaker 2: course is vice chairman and president of the Toronto Raptors 675 00:38:06,880 --> 00:38:10,440 Speaker 2: and co founder of Giants of Africa. And most importantly, 676 00:38:10,480 --> 00:38:14,560 Speaker 2: thank you as well to Bloomberg Original's chief correspondent and 677 00:38:14,760 --> 00:38:17,040 Speaker 2: friend of the show Jason Kelly for joining us for 678 00:38:17,160 --> 00:38:20,600 Speaker 2: that special conversation. And that does it for this edition 679 00:38:20,680 --> 00:38:24,520 Speaker 2: of The Bloomberg Business of Sports. For my colleagues Vanessa Perdomo, 680 00:38:24,600 --> 00:38:26,720 Speaker 2: Damien Sassauer and Jason Kelly. 681 00:38:26,719 --> 00:38:27,560 Speaker 6: I'm Michael Barr. 682 00:38:27,719 --> 00:38:29,600 Speaker 2: Tune in again next week for the latest on the 683 00:38:29,640 --> 00:38:33,240 Speaker 2: stories moving big old money in a world of sports. 684 00:38:33,360 --> 00:38:35,799 Speaker 2: And don't forget to catch our podcast on all your 685 00:38:35,800 --> 00:38:40,200 Speaker 2: podcast platforms. You're listening to The Bloomberg Business of Sports 686 00:38:40,239 --> 00:38:42,800 Speaker 2: from Bloomberger Radio around the world.