1 00:00:02,040 --> 00:00:05,560 Speaker 1: Hello, I'm Scott, I'm Evan Nobi Williams, and I'm Michael 2 00:00:05,600 --> 00:00:08,559 Speaker 1: bar And this is the Bloomberg Business of Sports podcast 3 00:00:08,600 --> 00:00:12,080 Speaker 1: where we explore the big money issues in the world 4 00:00:12,080 --> 00:00:15,880 Speaker 1: of sports. Several topics to talk about. Let's start with 5 00:00:15,960 --> 00:00:21,280 Speaker 1: the Los Angeles Olympics sponsorship and with the Dallas Cowboys 6 00:00:21,320 --> 00:00:24,520 Speaker 1: and the New York Yankees getting together. There's a reason 7 00:00:24,520 --> 00:00:27,200 Speaker 1: why I'm mentioning both of those clubs. What's that reason, Michael, 8 00:00:27,280 --> 00:00:30,880 Speaker 1: Because Legends, the marketing and hospitality company controlled by those 9 00:00:30,920 --> 00:00:34,120 Speaker 1: two teams. They've been named the sponsorship sales agent for 10 00:00:34,159 --> 00:00:38,760 Speaker 1: the Los Angeles Olympics. Big dollars, big dollars, two and 11 00:00:38,800 --> 00:00:41,559 Speaker 1: a half billion dollars worth of sponsorship to sell. They 12 00:00:41,560 --> 00:00:44,960 Speaker 1: expire what this year? Evan coming up next year and 13 00:00:45,320 --> 00:00:48,920 Speaker 1: uh l A and the U s OC has tapped 14 00:00:48,960 --> 00:00:52,680 Speaker 1: Legends to go advise and come up with a selling plan. 15 00:00:53,400 --> 00:00:56,760 Speaker 1: I think they liked Legends because they're so well versed 16 00:00:56,760 --> 00:00:59,200 Speaker 1: in l A sure if mir Hashemi was the former 17 00:00:59,240 --> 00:01:01,960 Speaker 1: president of the Internet National at a e G. They're 18 00:01:01,960 --> 00:01:04,760 Speaker 1: working with the Rams and the Charges right now on 19 00:01:04,800 --> 00:01:09,960 Speaker 1: the new stadium in Englewood on selling AC so that 20 00:01:10,120 --> 00:01:13,560 Speaker 1: they feel pretty comfortable with their ability to know the 21 00:01:13,640 --> 00:01:16,280 Speaker 1: local market and solicit the most dollars. Yeah, and this 22 00:01:16,360 --> 00:01:18,560 Speaker 1: is this is a big contract. And Scott mentioned, you know, 23 00:01:18,640 --> 00:01:21,320 Speaker 1: this is a joint venture between the U s o 24 00:01:21,400 --> 00:01:24,880 Speaker 1: C and l which is something that we do in 25 00:01:24,920 --> 00:01:28,920 Speaker 1: America whenever America is hosting the games, so that the U. 26 00:01:29,000 --> 00:01:30,880 Speaker 1: S o C and the and the Olympics are not 27 00:01:30,959 --> 00:01:34,760 Speaker 1: kind of going against each other. Is something we do 28 00:01:34,800 --> 00:01:38,560 Speaker 1: in America and maybe elsewhere. I don't know. This is 29 00:01:38,600 --> 00:01:43,040 Speaker 1: something that AA do not mean that national. That's why 30 00:01:43,080 --> 00:01:49,360 Speaker 1: I wanted to exactly. Yeah, so they're they work together, 31 00:01:49,600 --> 00:01:51,760 Speaker 1: um A. Scott said, the U s o C s 32 00:01:51,800 --> 00:01:53,880 Speaker 1: all of their domestic partnerships are going to expire after 33 00:01:53,960 --> 00:01:57,640 Speaker 1: the Tokyo Games. It will be up to Legends and 34 00:01:57,680 --> 00:02:00,760 Speaker 1: this new joint venture to sell the next years leading 35 00:02:00,840 --> 00:02:04,520 Speaker 1: up to and through the Light Games. Their goal is 36 00:02:04,560 --> 00:02:07,919 Speaker 1: to sell two point five billion dollars in sponsorships. Um. 37 00:02:07,960 --> 00:02:11,280 Speaker 1: That would be uh second highest total ever in Olympics. 38 00:02:11,280 --> 00:02:15,600 Speaker 1: Besides what Tokyo is doing right now, they have fifty 39 00:02:15,680 --> 00:02:18,320 Speaker 1: five fifty six something like that. Local partners They've gone 40 00:02:18,400 --> 00:02:21,480 Speaker 1: kind of above and beyond anything we've ever seen going 41 00:02:21,520 --> 00:02:25,079 Speaker 1: in with the lead time, with the sort of the 42 00:02:25,360 --> 00:02:30,000 Speaker 1: Olympics stature, with the sprawl of digital, companies are going 43 00:02:30,080 --> 00:02:31,919 Speaker 1: to find a way to get their messages. And yeah, 44 00:02:31,919 --> 00:02:33,600 Speaker 1: and one of the things we talked to Kathy Carter, 45 00:02:33,720 --> 00:02:36,520 Speaker 1: formerly of Soccer United Marketing over at MLS, who is 46 00:02:36,560 --> 00:02:38,520 Speaker 1: now you know, kind of kind of running a lot 47 00:02:38,560 --> 00:02:41,480 Speaker 1: of the marketing going into the Light Games. One of 48 00:02:41,480 --> 00:02:43,760 Speaker 1: the things she mentioned to me. Obviously, l A has 49 00:02:43,800 --> 00:02:46,480 Speaker 1: a lot of stadiums already built. They're doing very little 50 00:02:46,560 --> 00:02:49,240 Speaker 1: building in the next ten years, and one of the 51 00:02:49,280 --> 00:02:51,280 Speaker 1: benefits of that is that they don't have to spend 52 00:02:51,280 --> 00:02:56,720 Speaker 1: time worrying about it. So they have a hugely time 53 00:02:56,800 --> 00:02:59,600 Speaker 1: unprecedented because they gave the l A Olympics when they 54 00:02:59,600 --> 00:03:02,120 Speaker 1: gave out Paris and twenty four so they have more 55 00:03:02,120 --> 00:03:04,840 Speaker 1: time than ever, less building than almost ever. Uh. And 56 00:03:04,880 --> 00:03:06,960 Speaker 1: that is you know, the pitch that they're making is 57 00:03:07,000 --> 00:03:10,320 Speaker 1: that lets them focus primarily on the money maker, that 58 00:03:11,360 --> 00:03:14,960 Speaker 1: giving people storytelling opportunity exactly, speaking of which you talk 59 00:03:15,040 --> 00:03:19,360 Speaker 1: about because Los Angeles they have the facilities Tokyo. Meanwhile, 60 00:03:20,160 --> 00:03:23,040 Speaker 1: it's going through the roof because they keep saying, Okay, 61 00:03:23,160 --> 00:03:26,320 Speaker 1: we're gonna spend this. Okay, it's gonna go a little more. Okay, 62 00:03:26,360 --> 00:03:29,000 Speaker 1: it's if you've been on the Olympics, you might as well. 63 00:03:29,520 --> 00:03:31,840 Speaker 1: It's it's the kin to if anybody's done their house, 64 00:03:31,880 --> 00:03:34,280 Speaker 1: like done some kitchens and bathrooms in their house. Whatever 65 00:03:34,280 --> 00:03:39,280 Speaker 1: the contractor tells you budget, right, it's it's when does 66 00:03:39,320 --> 00:03:42,080 Speaker 1: it ever come in on budget? And and Tokyo has 67 00:03:42,120 --> 00:03:44,760 Speaker 1: an issue of they're they're kind of fighting over what's 68 00:03:45,000 --> 00:03:48,440 Speaker 1: classified as Olympic spending as it is, you know, whether 69 00:03:48,560 --> 00:03:51,600 Speaker 1: you know infrastructure or a new rail system is technically 70 00:03:51,640 --> 00:03:53,480 Speaker 1: part of the Olympic bid or if that should be 71 00:03:53,520 --> 00:03:56,360 Speaker 1: happening separately. But you're right, Scott, I mean I whenever 72 00:03:56,400 --> 00:03:59,119 Speaker 1: you see this is the budget and you're eight years out, 73 00:03:59,440 --> 00:04:01,240 Speaker 1: you know you can pretty much assumed that that that 74 00:04:01,320 --> 00:04:03,600 Speaker 1: number is going to be going up as construction. And 75 00:04:03,880 --> 00:04:05,360 Speaker 1: at the end, when you said, and we're talking about 76 00:04:05,440 --> 00:04:06,720 Speaker 1: l A, I thought you were gonna talk about the 77 00:04:06,720 --> 00:04:08,600 Speaker 1: Dodgers in the Red Sox. But maybe we'll close with that. 78 00:04:08,720 --> 00:04:14,360 Speaker 1: We're close, Okay, Well we'll get to that, Okay. Uh. 79 00:04:14,440 --> 00:04:18,400 Speaker 1: The next story, Uh, this is rather serious. Bill Boland, 80 00:04:18,440 --> 00:04:22,479 Speaker 1: the brother of Denver Broncos Prince blowner Pat Boland is 81 00:04:22,520 --> 00:04:25,480 Speaker 1: asking a Colorado District court to remove the three members 82 00:04:25,520 --> 00:04:28,599 Speaker 1: of a trust that is running the franchise, with Pat 83 00:04:28,680 --> 00:04:32,120 Speaker 1: Boland battling Alzheimer's I gotta I don't know if you 84 00:04:32,160 --> 00:04:33,880 Speaker 1: know this, if it's possible for you. When we get 85 00:04:33,880 --> 00:04:38,720 Speaker 1: to a serious story, your voice drops another octave. That's serious, 86 00:04:38,880 --> 00:04:40,279 Speaker 1: it is. I didn't know you can possibly do it. 87 00:04:40,279 --> 00:04:44,640 Speaker 1: But but yeah, I mean from a sports business perspective, 88 00:04:44,760 --> 00:04:49,000 Speaker 1: we've seen family squabbles before, but Pat Boland set this 89 00:04:49,080 --> 00:04:52,720 Speaker 1: situation up where this trust governs the team and there 90 00:04:52,720 --> 00:04:58,159 Speaker 1: are very specific guidelines for whoever is to take over next, 91 00:04:58,200 --> 00:04:59,680 Speaker 1: as in, you have to work for a team, or 92 00:04:59,720 --> 00:05:01,800 Speaker 1: at LEAs you have to have an advanced degree. And 93 00:05:01,880 --> 00:05:04,559 Speaker 1: his daughter has gotten the law degree and the trust 94 00:05:04,600 --> 00:05:07,720 Speaker 1: didn't think she was ready yet. So you don't know 95 00:05:07,800 --> 00:05:10,240 Speaker 1: at what point this is going to get really ugly. 96 00:05:10,279 --> 00:05:12,600 Speaker 1: I mean, this is step one and ugly. Let's see 97 00:05:12,640 --> 00:05:14,080 Speaker 1: if they can. And it's not like the team is 98 00:05:14,120 --> 00:05:16,599 Speaker 1: having a lot of success on the field either, So 99 00:05:17,000 --> 00:05:19,560 Speaker 1: he tried to set it up where this wouldn't happen, 100 00:05:19,920 --> 00:05:22,880 Speaker 1: and yet here we are where you know, Bill Bolan 101 00:05:23,000 --> 00:05:27,040 Speaker 1: is is challenging the trust of the three person trust 102 00:05:27,640 --> 00:05:30,720 Speaker 1: running this club, saying why are they why are they 103 00:05:30,760 --> 00:05:32,839 Speaker 1: doing things on check? Shouldn't somebody at least look and 104 00:05:32,839 --> 00:05:35,880 Speaker 1: see if they're doing things properly? And he's doing this 105 00:05:36,320 --> 00:05:38,159 Speaker 1: correct me if I'm wrong, kind of on behalf of 106 00:05:38,200 --> 00:05:43,240 Speaker 1: his sister, right, Beth, Beth Bowling Wallace, who Pat bowl 107 00:05:43,279 --> 00:05:45,839 Speaker 1: and laid out, you know, some some frameworks for what 108 00:05:46,040 --> 00:05:47,800 Speaker 1: you know, one of his children would have to do 109 00:05:47,800 --> 00:05:49,880 Speaker 1: if they wanted to take control of the team. What 110 00:05:50,000 --> 00:05:53,000 Speaker 1: Beth Bolon is saying is that she's done, satisfied all 111 00:05:53,080 --> 00:05:57,000 Speaker 1: of those things, um, and still the board of trustees, 112 00:05:57,000 --> 00:05:59,680 Speaker 1: the board is hanging on the saying she's not experienced enough, 113 00:05:59,800 --> 00:06:01,760 Speaker 1: and they're you know, they're they're fighting. There's a kind 114 00:06:01,760 --> 00:06:03,880 Speaker 1: of public war of words going on about whether what 115 00:06:04,040 --> 00:06:06,320 Speaker 1: Beth wants to do with the team is is is 116 00:06:06,360 --> 00:06:09,000 Speaker 1: exactly in the in the interests of what Pat thought 117 00:06:09,000 --> 00:06:11,440 Speaker 1: when he laid this out. The quote was when she applied, 118 00:06:11,440 --> 00:06:13,960 Speaker 1: here's the quote from the trust, she was quote not 119 00:06:14,200 --> 00:06:19,120 Speaker 1: capable or qualified at this time. No explanation needed, just 120 00:06:19,279 --> 00:06:22,560 Speaker 1: that's it. Not in our judgment, not capable or qualified. 121 00:06:22,960 --> 00:06:25,400 Speaker 1: Now she's at McKinsey by the way, but see she 122 00:06:25,440 --> 00:06:28,359 Speaker 1: announced Beth Bowlan Wallace, she announced back in May she 123 00:06:28,440 --> 00:06:31,719 Speaker 1: wanted control of the team. Yeah so so I mean 124 00:06:32,360 --> 00:06:36,640 Speaker 1: why until now that we're seeing this delay in in action, 125 00:06:38,080 --> 00:06:42,280 Speaker 1: Who knows why they're moving now? Somebody was moved by 126 00:06:42,360 --> 00:06:45,760 Speaker 1: by some reason. I mean, we also had his other daughter, Brittany, 127 00:06:45,920 --> 00:06:48,400 Speaker 1: that she would waybe one day take over and she's 128 00:06:48,440 --> 00:06:52,080 Speaker 1: got her NBA from Duke. She graduated from Notre Dame 129 00:06:52,080 --> 00:06:55,480 Speaker 1: of the degree in finance, worked at the NFL headquarters. 130 00:06:55,520 --> 00:06:58,480 Speaker 1: You know, these seem to be some of the things 131 00:06:58,520 --> 00:07:01,560 Speaker 1: that her father wanted the children to do, and yet 132 00:07:02,200 --> 00:07:04,080 Speaker 1: not good enough. But see, this is what I do understand. 133 00:07:04,120 --> 00:07:08,880 Speaker 1: It's like this is Pat Boland's team. So why are 134 00:07:09,240 --> 00:07:14,400 Speaker 1: the children getting all this resistance with this group of trustees? 135 00:07:14,440 --> 00:07:16,560 Speaker 1: In the first thing, well that there's the question, now 136 00:07:16,800 --> 00:07:20,320 Speaker 1: what is the oversight of the trust? Is their authority unlimited? 137 00:07:21,200 --> 00:07:23,920 Speaker 1: Is it absolute right? Or does somebody now have to 138 00:07:23,920 --> 00:07:27,320 Speaker 1: come in and say the wishes set forth in the 139 00:07:27,320 --> 00:07:30,000 Speaker 1: trust have been met and it's time for you guys 140 00:07:30,000 --> 00:07:33,640 Speaker 1: to step aside. We're getting to appoint specifically in football, 141 00:07:33,640 --> 00:07:37,000 Speaker 1: but other sports as well, where this generation of owners 142 00:07:37,360 --> 00:07:40,160 Speaker 1: are starting to hit that day point where they're either 143 00:07:40,320 --> 00:07:43,080 Speaker 1: unfortunately passing away or they're you know, they're handing things 144 00:07:43,160 --> 00:07:46,280 Speaker 1: down before they do. Um. It feels as though we're 145 00:07:46,280 --> 00:07:48,280 Speaker 1: seeing more and more of this pickering Now. Is that 146 00:07:48,320 --> 00:07:50,679 Speaker 1: just because valuations are so had it in the Bus 147 00:07:50,720 --> 00:07:55,080 Speaker 1: family start New Orleans exactly, but Amy the Adams family 148 00:07:55,320 --> 00:07:59,280 Speaker 1: in Tennessee. It just seems as though somebody had to 149 00:08:00,240 --> 00:08:05,680 Speaker 1: the way you said it right was coming man. But 150 00:08:05,800 --> 00:08:07,640 Speaker 1: there are two there are two points to add to this. 151 00:08:07,720 --> 00:08:11,400 Speaker 1: That's that's rather important. Uh. One, obviously the club is 152 00:08:11,440 --> 00:08:13,720 Speaker 1: value that two point five billion dollars. But two, and 153 00:08:13,760 --> 00:08:16,240 Speaker 1: this is the most important part. Well, why can't the 154 00:08:16,320 --> 00:08:20,920 Speaker 1: wife of pet Bowlan take over because she was recently 155 00:08:20,960 --> 00:08:25,280 Speaker 1: diagnosed with Alzheimer's. Also, that's not what's set forth in 156 00:08:25,280 --> 00:08:28,400 Speaker 1: the trust Number one. I mean, it's just set up 157 00:08:28,480 --> 00:08:32,160 Speaker 1: this process. I mean that that's that's the way it was. So. Yeah, 158 00:08:32,280 --> 00:08:34,320 Speaker 1: I think the valuations have something to do with it. 159 00:08:34,360 --> 00:08:37,640 Speaker 1: There's a lot of money here. It's taken Oftentimes hands 160 00:08:37,640 --> 00:08:40,280 Speaker 1: are out and we'll see and we've seen a lot 161 00:08:40,320 --> 00:08:42,599 Speaker 1: of NFL franchises in the past movie ten years or 162 00:08:42,640 --> 00:08:45,640 Speaker 1: so passed down to offspring. Seamlessly as well. I don't 163 00:08:45,640 --> 00:08:48,040 Speaker 1: want to imply that it always ends up as a mess, 164 00:08:48,280 --> 00:08:50,880 Speaker 1: but it certainly feels as though recently we've seen more 165 00:08:50,880 --> 00:08:56,920 Speaker 1: and more ownership challenged. When when when the patriarch why 166 00:08:57,080 --> 00:09:01,120 Speaker 1: ready to step to parents, kids? Yeah, it's it's sometimes 167 00:09:01,320 --> 00:09:03,200 Speaker 1: has the potential to get missed. And if you're a 168 00:09:03,200 --> 00:09:06,000 Speaker 1: sports banker out there, how do you do? You do 169 00:09:06,040 --> 00:09:10,240 Speaker 1: you salivate over things like this? Is this you want? 170 00:09:10,280 --> 00:09:14,160 Speaker 1: You want? Bankers want clean process, They want process. That 171 00:09:14,160 --> 00:09:17,360 Speaker 1: that's all they want. Let's just take for example here 172 00:09:17,400 --> 00:09:22,120 Speaker 1: the Portland Trailblazers and the Seattle Seahawks. They have a 173 00:09:22,160 --> 00:09:24,880 Speaker 1: process and right now the daughter has taken over as 174 00:09:24,880 --> 00:09:28,400 Speaker 1: trustee the estate. She will declare her intentions as to 175 00:09:28,440 --> 00:09:32,200 Speaker 1: whether she wants to liquidate one of the assets. Not what, 176 00:09:32,400 --> 00:09:34,880 Speaker 1: But I can tell you the bankers are waiting to 177 00:09:34,920 --> 00:09:38,439 Speaker 1: see what that process will be and before they go 178 00:09:39,080 --> 00:09:42,680 Speaker 1: hole hog in, because you know, these things are all 179 00:09:42,720 --> 00:09:44,560 Speaker 1: guided by success fees. You're gonna spend a whole lot 180 00:09:44,600 --> 00:09:48,080 Speaker 1: of time and money and effort for something that may 181 00:09:48,120 --> 00:09:52,959 Speaker 1: be so convoluted, so complicated that they just want clean process. 182 00:09:53,280 --> 00:09:58,640 Speaker 1: Well again, pat bowlan own of the team. His brother 183 00:09:58,760 --> 00:10:03,480 Speaker 1: Bill owns the remaining And again when I'm not getting 184 00:10:04,320 --> 00:10:08,520 Speaker 1: is why are the trustees having all this power in 185 00:10:08,559 --> 00:10:10,920 Speaker 1: the first place, Because that's what Pat laid out. I 186 00:10:10,960 --> 00:10:13,280 Speaker 1: gave it to them. He he laid out that there 187 00:10:13,320 --> 00:10:15,640 Speaker 1: will be a three these three people, this trust will 188 00:10:15,679 --> 00:10:20,360 Speaker 1: govern the franchise and all that there. They seemingly think 189 00:10:20,760 --> 00:10:23,840 Speaker 1: that it's still they have the right to say, despite 190 00:10:24,320 --> 00:10:29,040 Speaker 1: the fact that the daughters have satisfied the verbatim requirements 191 00:10:29,559 --> 00:10:33,160 Speaker 1: that in their estimation and this this power was granted 192 00:10:33,160 --> 00:10:35,439 Speaker 1: to them, there's it's still not the best interest of 193 00:10:35,440 --> 00:10:37,319 Speaker 1: the franchise for them to take over at this point. 194 00:10:37,360 --> 00:10:40,240 Speaker 1: They just don't have enough experience. I get that, I 195 00:10:40,559 --> 00:10:44,280 Speaker 1: understand that. But what I'm saying is this is I'm 196 00:10:44,320 --> 00:10:47,240 Speaker 1: trying not to put it in McGruff terms here, but 197 00:10:48,440 --> 00:10:53,520 Speaker 1: if Pat Bolan eventually passes, which yes, we all die, 198 00:10:53,520 --> 00:10:57,000 Speaker 1: But when he eventually passes, why is it then that 199 00:10:57,160 --> 00:11:00,240 Speaker 1: John Boland. Why is it not written that John Bolan 200 00:11:00,480 --> 00:11:02,800 Speaker 1: takes over and then makes the shots, because that's not 201 00:11:02,840 --> 00:11:05,840 Speaker 1: what Pat wanted. If he left the team to John, 202 00:11:05,880 --> 00:11:08,360 Speaker 1: that that would be the case. I mean, if in 203 00:11:08,480 --> 00:11:13,280 Speaker 1: his will he left this asset to John. That's what 204 00:11:13,280 --> 00:11:17,679 Speaker 1: would happen. But a trust will govern the majority ownership 205 00:11:18,360 --> 00:11:21,600 Speaker 1: of the team, and John will still be a limited partner. 206 00:11:22,000 --> 00:11:24,680 Speaker 1: That's the way it's spelled out. All right, I'm done 207 00:11:24,720 --> 00:11:29,240 Speaker 1: digging all prayers to everybody. There will be more on this, yes, 208 00:11:29,360 --> 00:11:32,440 Speaker 1: I'm sure we'll get I'm just gonna simply say this 209 00:11:32,720 --> 00:11:36,839 Speaker 1: Evans story on Epic Games investment. You want a number 210 00:11:36,880 --> 00:11:38,880 Speaker 1: for some like, you know, not just E sports, but 211 00:11:39,360 --> 00:11:42,160 Speaker 1: video games in general, like where we're headed. Give them 212 00:11:42,080 --> 00:11:44,000 Speaker 1: the number, give them the valuation. There's the top line 213 00:11:44,000 --> 00:11:46,960 Speaker 1: here that the company that makes uh Fortnite, Epic Games, 214 00:11:47,400 --> 00:11:52,959 Speaker 1: is now valued of fifteen billion dollars. The news last 215 00:11:53,000 --> 00:11:56,000 Speaker 1: week was that, you know that they just took on 216 00:11:56,000 --> 00:11:59,240 Speaker 1: one point to five billion in investment from a handful 217 00:11:59,280 --> 00:12:04,559 Speaker 1: of companies, head line by KKR and Axiomatic Gaming. Um, 218 00:12:04,720 --> 00:12:06,960 Speaker 1: that's a big number, you know, and it shows by 219 00:12:07,000 --> 00:12:09,800 Speaker 1: sophisticated investors. Yeah, it shows both the kind of the 220 00:12:10,200 --> 00:12:13,960 Speaker 1: reach of Fortnite, and then there's another kind of property. 221 00:12:13,640 --> 00:12:16,160 Speaker 1: They have two main you know, they have two main assets, 222 00:12:16,200 --> 00:12:18,840 Speaker 1: Fortnite being one of them, the other being something called 223 00:12:18,840 --> 00:12:20,839 Speaker 1: the Unreal Engine, which is kind of the back end 224 00:12:20,840 --> 00:12:25,000 Speaker 1: technology on which a lot of games operate. You know, 225 00:12:25,120 --> 00:12:27,840 Speaker 1: it is the kind of the starter kit for making 226 00:12:27,880 --> 00:12:30,240 Speaker 1: a lot of both computer games and now increasingly other 227 00:12:30,280 --> 00:12:34,880 Speaker 1: things in the in the entertainment VR world. Um but yeah, 228 00:12:34,880 --> 00:12:38,160 Speaker 1: fifteen billion dollars for this company. That's a that's my son. 229 00:12:39,240 --> 00:12:41,280 Speaker 1: My son had his pal. We mentioned Hard orange Stein 230 00:12:41,320 --> 00:12:42,760 Speaker 1: on the show quite a bit. His son, Dax, was 231 00:12:42,800 --> 00:12:45,840 Speaker 1: over playing Fortnite, which actually of the day. I was upstairs. 232 00:12:46,360 --> 00:12:49,400 Speaker 1: All of a sudden, there is screaming. They had a zombie, 233 00:12:49,440 --> 00:12:53,800 Speaker 1: didn't they. Well, apparently I learned some terminology. Dax is 234 00:12:53,840 --> 00:12:56,880 Speaker 1: a new which means new to the game. Right, got 235 00:12:56,880 --> 00:13:01,560 Speaker 1: his first kill, So, I mean there was a celebration, 236 00:13:02,440 --> 00:13:05,160 Speaker 1: like better than their hockey team had won a game 237 00:13:05,240 --> 00:13:07,800 Speaker 1: or what. Those kids were stomping up and down. He 238 00:13:08,000 --> 00:13:11,719 Speaker 1: was so excited. I'm just happy because nobody asked me 239 00:13:11,760 --> 00:13:13,880 Speaker 1: for like five ten dollars to buy more V bucks 240 00:13:13,960 --> 00:13:17,920 Speaker 1: whatever the you know, like the game my guy knows, 241 00:13:17,960 --> 00:13:20,000 Speaker 1: don't even come to me anymore. The answer is no, 242 00:13:20,240 --> 00:13:22,760 Speaker 1: you can get different a skin or a rifle, whatever 243 00:13:22,800 --> 00:13:24,040 Speaker 1: it is. I don't care if the answer is not, 244 00:13:24,160 --> 00:13:25,880 Speaker 1: it's no, there's a new gun in the game too. 245 00:13:26,280 --> 00:13:29,240 Speaker 1: And they have these tournaments now, these special tournaments. I 246 00:13:29,280 --> 00:13:34,680 Speaker 1: don't know, I'm like and all evil. All these things 247 00:13:34,840 --> 00:13:37,199 Speaker 1: are you know, things that Epic Games is doing to 248 00:13:37,240 --> 00:13:39,800 Speaker 1: try to keep the game relevant, you know, But and 249 00:13:39,840 --> 00:13:42,640 Speaker 1: they and what was the sign recently that perhaps the 250 00:13:42,679 --> 00:13:46,520 Speaker 1: popularity was waiting. A viewership of of Fortnite on Twitch 251 00:13:46,760 --> 00:13:48,840 Speaker 1: is going down, gone down for the past two months now. 252 00:13:48,840 --> 00:13:50,400 Speaker 1: Those are I would think on Twitch, those are those 253 00:13:50,400 --> 00:13:53,240 Speaker 1: are probably sophisticated gamers, not a lot of them. There's 254 00:13:53,280 --> 00:13:56,440 Speaker 1: some casual people watching streams. There's also some sophisticated gamers 255 00:13:56,440 --> 00:13:58,640 Speaker 1: in there. Fortnite had been kind of on like a 256 00:13:58,760 --> 00:14:01,360 Speaker 1: rocket ship trajectory up. Uh. It peaked a couple of 257 00:14:01,360 --> 00:14:03,720 Speaker 1: months ago and is now kind of going down. The 258 00:14:03,760 --> 00:14:06,240 Speaker 1: big question, you know, and it's the question that lingers 259 00:14:06,240 --> 00:14:09,760 Speaker 1: over e sports across the industry, games, EBB and flow 260 00:14:09,760 --> 00:14:12,680 Speaker 1: in their popularity. A game that is very popular one 261 00:14:12,760 --> 00:14:15,800 Speaker 1: year could be dead two years later. Um and Fortnite 262 00:14:15,840 --> 00:14:18,000 Speaker 1: kind of took market share away from a game called 263 00:14:18,240 --> 00:14:21,960 Speaker 1: pub g Um, which you know, is not paid nearly 264 00:14:22,000 --> 00:14:23,680 Speaker 1: as much as it was and it's at its heyday 265 00:14:23,680 --> 00:14:27,080 Speaker 1: because Fortnite came in. UM. So, yeah, if you think 266 00:14:27,080 --> 00:14:30,240 Speaker 1: about epic games as a as a studio. If Fortnite 267 00:14:30,280 --> 00:14:33,280 Speaker 1: loses popularity, they still have the unreal engine. But what 268 00:14:33,320 --> 00:14:35,120 Speaker 1: do they do, you know, either to keep the game 269 00:14:35,120 --> 00:14:37,920 Speaker 1: relevant or what's the next game? That's the big question. 270 00:14:38,400 --> 00:14:41,120 Speaker 1: By the way, Uh, we should add because we gotta 271 00:14:41,120 --> 00:14:44,360 Speaker 1: wrap it up. Congratulations to the Boston Red Sox. They 272 00:14:44,440 --> 00:14:49,880 Speaker 1: won game five to take the entire Fall Classic and 273 00:14:49,920 --> 00:14:52,840 Speaker 1: the title. The poor Los Angeles Dodgers. This is the 274 00:14:52,960 --> 00:14:56,800 Speaker 1: second year in a row where they're runner ups. Sorry stancasting, 275 00:14:56,840 --> 00:14:58,720 Speaker 1: Tucker came, but you gotta get better. You're right, you 276 00:14:58,720 --> 00:15:01,520 Speaker 1: played a really good team, right. They Red Sox lost 277 00:15:01,520 --> 00:15:02,640 Speaker 1: the first game of the year, and they went like 278 00:15:02,680 --> 00:15:05,600 Speaker 1: eighteen and two or something. You know, look, I wish 279 00:15:05,600 --> 00:15:06,960 Speaker 1: you would have saved that for the number of the week. 280 00:15:07,240 --> 00:15:10,600 Speaker 1: But I I was up at three thirty watching the 281 00:15:10,680 --> 00:15:14,600 Speaker 1: eighteenth inning of that game. Third trip to the bathroom. Yeah, 282 00:15:14,640 --> 00:15:21,040 Speaker 1: thanks thanks many quest me. I was, I was. I 283 00:15:21,120 --> 00:15:23,960 Speaker 1: made the household. Man. I'm up early Saturday morning and 284 00:15:24,000 --> 00:15:30,400 Speaker 1: I'm screaming, man, and I'm waking everybody up. And and 285 00:15:30,560 --> 00:15:33,240 Speaker 1: poor Fox, I mean, people made all this. Think about Oh, 286 00:15:33,240 --> 00:15:36,680 Speaker 1: we got two big class teams Red Sox Dodgers. How 287 00:15:36,680 --> 00:15:39,840 Speaker 1: great this is for the broadcasters? Five games as a disaster. 288 00:15:40,720 --> 00:15:42,720 Speaker 1: That is not what they want at all, regardless of 289 00:15:42,760 --> 00:15:44,320 Speaker 1: who the team. Where do we voted on? My nephew, 290 00:15:44,360 --> 00:15:47,600 Speaker 1: by the way, has had tickets for Game six in Boston. 291 00:15:48,240 --> 00:15:51,040 Speaker 1: So I sent a text to my my sister last night. 292 00:15:51,640 --> 00:15:55,120 Speaker 1: Are you rooting for the Red Sox because they win 293 00:15:55,440 --> 00:15:57,960 Speaker 1: or you're rooting for the Dodgers because then you probably 294 00:15:57,960 --> 00:16:00,280 Speaker 1: get to be there when they do? And right for 295 00:16:00,320 --> 00:16:02,360 Speaker 1: the Dodgers, they were like, oh, we're fans, just get 296 00:16:02,400 --> 00:16:05,240 Speaker 1: it over with. I was in had I done that? 297 00:16:05,320 --> 00:16:07,080 Speaker 1: By the way, Brent, speaking of Dodgers, I know we 298 00:16:07,120 --> 00:16:10,360 Speaker 1: gotta go. But Game six, nineteen seventy seven World Series 299 00:16:10,360 --> 00:16:12,480 Speaker 1: my first baseball game ever? Oh you went there? I 300 00:16:12,640 --> 00:16:15,080 Speaker 1: was my Reggie hit his three I have the little 301 00:16:15,080 --> 00:16:17,480 Speaker 1: pictures in the poll were throwing quarters out on the field? 302 00:16:17,600 --> 00:16:21,040 Speaker 1: That one quarters? Remember the one where where Reggie Jackson 303 00:16:21,120 --> 00:16:22,800 Speaker 1: this is known as Reggie Jackson hit three home runs 304 00:16:22,800 --> 00:16:25,040 Speaker 1: in the World Series. That's what I'm saying. But wasn't 305 00:16:25,120 --> 00:16:27,440 Speaker 1: there one where they were throwing quarters out on the 306 00:16:27,480 --> 00:16:31,080 Speaker 1: field and Reggie Jackson? I have no idea. I never 307 00:16:31,120 --> 00:16:33,240 Speaker 1: threw quarters. Can we see this picture? Can you bring 308 00:16:33,280 --> 00:16:34,800 Speaker 1: it in? Yeah? I actually tweeted it a couple of 309 00:16:34,840 --> 00:16:36,240 Speaker 1: years ago. Yeah, yeah, I got him in. It's in 310 00:16:36,280 --> 00:16:37,840 Speaker 1: my desk. A matter of fact, I'll tweat the I'll 311 00:16:37,840 --> 00:16:42,520 Speaker 1: tweet some of the photos. Yeah. My father like like 312 00:16:42,640 --> 00:16:45,080 Speaker 1: to say, uh, he was there, but he didn't see 313 00:16:45,080 --> 00:16:46,720 Speaker 1: any of it because as soon as Reggie hit the ball, 314 00:16:46,720 --> 00:16:49,000 Speaker 1: I jumped up on his lap. So he's like, He's like, 315 00:16:49,040 --> 00:16:51,040 Speaker 1: I just trusted the ball went out because everybody celebrated, 316 00:16:51,040 --> 00:16:55,240 Speaker 1: but I didn't see anything. But remembering out there Twitter world, 317 00:16:55,280 --> 00:16:57,720 Speaker 1: because there was one where they were throwing quarters out 318 00:16:57,760 --> 00:17:00,640 Speaker 1: on the field for Reggie Jackson. I remember that because 319 00:17:00,720 --> 00:17:07,919 Speaker 1: Keith Jackson was making thank you this is the Bloomberg 320 00:17:07,920 --> 00:17:11,000 Speaker 1: business of sports. He never lets me. I wanted to 321 00:17:11,000 --> 00:17:14,399 Speaker 1: hear the best I was symmetry because that year, I 322 00:17:15,200 --> 00:17:18,760 Speaker 1: sorry Yankee fans. Back then it was three to two, 323 00:17:20,160 --> 00:17:22,720 Speaker 1: I was or three one. I was rooting for the 324 00:17:22,760 --> 00:17:25,680 Speaker 1: Dodgers to win so that the series would come back 325 00:17:25,720 --> 00:17:28,160 Speaker 1: to New York. Now, had it worked out the same 326 00:17:28,240 --> 00:17:30,359 Speaker 1: way as this time, I would not have seen Reggie 327 00:17:30,400 --> 00:17:34,160 Speaker 1: Jackson hit three home runs. See that's true, right, simple math, 328 00:17:35,040 --> 00:17:42,080 Speaker 1: but finish out. Thank you. This is the Bloomberg Business 329 00:17:42,119 --> 00:17:45,199 Speaker 1: of Sports podcast. Michael Barr, along with Scott sash Nick 330 00:17:45,240 --> 00:17:47,840 Speaker 1: and Evan Wi Williams. We are here each and every Monday, 331 00:17:47,920 --> 00:17:50,440 Speaker 1: Wednesday and Thursday exploring the world of money in sports. 332 00:17:50,520 --> 00:17:52,000 Speaker 1: Join us again at the end of the week when 333 00:17:52,000 --> 00:17:54,320 Speaker 1: we speak with the biggest and brightest in the sports 334 00:17:54,359 --> 00:17:57,000 Speaker 1: business industry. You're listening to Bloomberg Business of Sports on 335 00:17:57,040 --> 00:18:00,960 Speaker 1: Bloomberg Radio around the world and online where guests are available.