1 00:00:02,480 --> 00:00:06,800 Speaker 1: Bloomberg Audio Studios, Podcasts, radio News. 2 00:00:07,680 --> 00:00:10,240 Speaker 2: This is Bloomberg Business of Sports. 3 00:00:10,400 --> 00:00:13,239 Speaker 3: Business of Sports can be intimidating for hard for a 4 00:00:13,320 --> 00:00:14,200 Speaker 3: start to break into. 5 00:00:14,320 --> 00:00:17,040 Speaker 4: We really appreciate what our owners are actually there. 6 00:00:17,120 --> 00:00:18,480 Speaker 3: You know with us through the journey. 7 00:00:18,520 --> 00:00:22,040 Speaker 1: Teams ours especially have been very intentional to diversify at 8 00:00:22,079 --> 00:00:23,320 Speaker 1: all levels of the unbanishibe. 9 00:00:23,320 --> 00:00:26,360 Speaker 5: We're in the golden years for the NFL and college football. 10 00:00:26,400 --> 00:00:29,800 Speaker 6: Our demographic reach has continued to explain. 11 00:00:29,560 --> 00:00:33,200 Speaker 1: This is going to be really unlocking the streaming platform 12 00:00:33,280 --> 00:00:34,200 Speaker 1: for sports fans. 13 00:00:34,280 --> 00:00:35,640 Speaker 2: Sports valuations are rising. 14 00:00:35,800 --> 00:00:38,000 Speaker 3: We'll see when they peak. You don't have to be 15 00:00:38,280 --> 00:00:41,160 Speaker 3: the best in your sports and make a whole ton 16 00:00:41,560 --> 00:00:42,360 Speaker 3: of money. 17 00:00:42,400 --> 00:00:45,320 Speaker 2: Bloomberg Business of Sports from Bloomberg Radio. 18 00:00:47,000 --> 00:00:50,120 Speaker 3: Hello, this is the Bloomberg Business of Sports where we 19 00:00:50,159 --> 00:00:52,120 Speaker 3: explore the big money issues in the world of sports. 20 00:00:52,200 --> 00:00:56,000 Speaker 3: I'm Michael lah along with Damian Sasauwer Scarlett Fuo would 21 00:00:56,080 --> 00:00:59,240 Speaker 3: join us in the program. Later. Coming up today, we 22 00:00:59,280 --> 00:01:04,200 Speaker 3: hear from Alice, Cowboys owner Jerry Jones and Penske Automotive 23 00:01:04,280 --> 00:01:09,039 Speaker 3: CEO Roger Penske. The two billionaires are working together to 24 00:01:09,120 --> 00:01:14,080 Speaker 3: bring indie car to the streets. Outside of Jerry world 25 00:01:14,120 --> 00:01:15,279 Speaker 3: in Texas. 26 00:01:14,920 --> 00:01:18,720 Speaker 7: It'll be about Roger Penske, it'll be about cowboys, it'll 27 00:01:18,720 --> 00:01:22,400 Speaker 7: be about tradition, it'll be about sports, but in the medium, 28 00:01:22,640 --> 00:01:25,800 Speaker 7: it'll be about racing along these streets. And I would 29 00:01:25,840 --> 00:01:30,039 Speaker 7: hope that we're establishing something that will last a long time. 30 00:01:30,080 --> 00:01:32,880 Speaker 3: Here, we'll also talk with former New York Rangers Stanley 31 00:01:32,920 --> 00:01:35,720 Speaker 3: Cup winning coach Mike Keenan to talk a little hockey 32 00:01:35,720 --> 00:01:38,960 Speaker 3: in his new book, Iron Mike, My Life behind the Bench. 33 00:01:39,360 --> 00:01:41,800 Speaker 3: All that and more is straight ahead on the Bloomberg 34 00:01:41,840 --> 00:01:46,160 Speaker 3: Business of Sports. But first, around eleven million dollars of 35 00:01:46,280 --> 00:01:49,640 Speaker 3: Tom Brady luxury items will be up for grabs at 36 00:01:49,800 --> 00:01:51,600 Speaker 3: Sotheby's auction in New York. 37 00:01:51,920 --> 00:01:55,120 Speaker 8: That's right, Michael Bardy Events called the Goat watches and 38 00:01:55,240 --> 00:01:56,800 Speaker 8: treasures from Tom Brady. 39 00:01:56,840 --> 00:01:58,800 Speaker 3: I heard all the watches have twelves on them too. 40 00:01:58,880 --> 00:02:00,000 Speaker 8: I want to see what those treasures are. 41 00:02:02,880 --> 00:02:07,080 Speaker 3: James, I'm sorry, James Starman with from Bloomberg Pursuits here 42 00:02:07,120 --> 00:02:09,440 Speaker 3: to talk to us about it. James, Welcome to the 43 00:02:09,440 --> 00:02:10,919 Speaker 3: Bloomberg Business of Sports. 44 00:02:11,000 --> 00:02:11,840 Speaker 4: Thanks for having me. 45 00:02:12,160 --> 00:02:14,920 Speaker 3: Well, first of all, I'm assuming these watches are not 46 00:02:14,960 --> 00:02:15,960 Speaker 3: made my TIMEX. 47 00:02:17,160 --> 00:02:21,399 Speaker 4: No, neither are they swatches, there are a few steps up. 48 00:02:21,919 --> 00:02:26,079 Speaker 4: I think the cheapest estimate that they've released US far 49 00:02:26,120 --> 00:02:28,960 Speaker 4: as a mere twelve to eighteen thousand dollars for an 50 00:02:28,960 --> 00:02:34,679 Speaker 4: IWC pilot's watch, But it climbs to the most expensive 51 00:02:35,280 --> 00:02:42,440 Speaker 4: watch is this unique piece that he had commissioned by Automnarpigae, 52 00:02:42,480 --> 00:02:46,880 Speaker 4: which is a watch company that has for those who 53 00:02:46,919 --> 00:02:52,680 Speaker 4: are not necessarily versed in neurology. It is white gold, 54 00:02:53,200 --> 00:03:02,359 Speaker 4: platinum diamonds. It spells out Tom Brady in diamonds on 55 00:03:02,440 --> 00:03:05,680 Speaker 4: the dial, and then there's a little seven on the 56 00:03:05,680 --> 00:03:09,800 Speaker 4: dial as well. That is a mirror. Four hundred thousand 57 00:03:09,880 --> 00:03:15,200 Speaker 4: to eight hundred thousand dollars at least that's estimated. Oh 58 00:03:15,240 --> 00:03:17,720 Speaker 4: you know, I think it's not platinum. I think it's 59 00:03:17,760 --> 00:03:18,480 Speaker 4: just white gold. 60 00:03:18,840 --> 00:03:19,720 Speaker 3: So just white gold. 61 00:03:19,800 --> 00:03:22,960 Speaker 4: Yeah, so someone's going to have to settle man. 62 00:03:23,080 --> 00:03:23,720 Speaker 3: That's stamien. 63 00:03:24,200 --> 00:03:27,400 Speaker 8: I mean, really well, James, you gotta help me out here, right, 64 00:03:27,440 --> 00:03:29,320 Speaker 8: I mean, let's let's let's let's cristalive this for our 65 00:03:29,360 --> 00:03:32,200 Speaker 8: audience here. There's forty seven pieces in total. I believe 66 00:03:32,240 --> 00:03:34,600 Speaker 8: it's twenty seven watches. So I guess Tom was never 67 00:03:34,680 --> 00:03:37,960 Speaker 8: laid for a meeting with Bill Belichick carrying an overall 68 00:03:38,080 --> 00:03:40,240 Speaker 8: estimate of approximately three to six million. That's what's being 69 00:03:40,240 --> 00:03:43,360 Speaker 8: auctioned off. And then some sports items which are estimated 70 00:03:43,400 --> 00:03:45,880 Speaker 8: to sell for roughly three to five million. What type 71 00:03:45,920 --> 00:03:47,839 Speaker 8: of sports items are going to be auctioned off? 72 00:03:47,880 --> 00:03:52,720 Speaker 4: Well, if you would like to own the white T 73 00:03:52,880 --> 00:03:59,760 Speaker 4: shirt that Tom Brady wore during his NFL combine during 74 00:03:59,800 --> 00:04:00,840 Speaker 4: the forty dash? 75 00:04:00,840 --> 00:04:02,640 Speaker 8: Do you remember what he looked like during that forty 76 00:04:02,720 --> 00:04:03,119 Speaker 8: yard dash? 77 00:04:03,160 --> 00:04:03,840 Speaker 2: I've seen the video. 78 00:04:03,960 --> 00:04:07,560 Speaker 4: He looked. He looked different than he does now. But 79 00:04:08,360 --> 00:04:12,440 Speaker 4: in all seriousness, that is that T shirt is possibly 80 00:04:12,480 --> 00:04:14,520 Speaker 4: one of the most expensive T shirts on offer in 81 00:04:14,560 --> 00:04:16,760 Speaker 4: the world right now, given that its estimate is one 82 00:04:16,800 --> 00:04:18,599 Speaker 4: hundred thousand to two hundred thousand dollars. 83 00:04:19,600 --> 00:04:19,880 Speaker 6: Wow. 84 00:04:20,000 --> 00:04:23,400 Speaker 3: For the T shirt. Yes, yes, holy moldly. 85 00:04:23,160 --> 00:04:27,080 Speaker 4: But that's not actually the most expensive piece of sports memorabilia. 86 00:04:27,200 --> 00:04:30,720 Speaker 4: His final college game worn jersey. 87 00:04:31,040 --> 00:04:32,440 Speaker 3: University of Michigan. 88 00:04:32,960 --> 00:04:37,520 Speaker 4: I'm sorry, that is exact well, yes, that is exactly right. 89 00:04:38,440 --> 00:04:42,479 Speaker 4: That is what he wore during the Orange Bowl, the 90 00:04:42,480 --> 00:04:45,840 Speaker 4: two thousand FedEx Orange Bowl. That is estimated between three 91 00:04:45,920 --> 00:04:49,159 Speaker 4: hundred thousand and five hundred thousand dollars. 92 00:04:49,240 --> 00:04:49,520 Speaker 2: Wow. 93 00:04:49,720 --> 00:04:52,160 Speaker 4: And you know I mean, they're kind of paige to 94 00:04:52,200 --> 00:04:54,599 Speaker 4: say this, but the guys at Sotheby's with whom I 95 00:04:54,600 --> 00:04:57,440 Speaker 4: spoke said that they thought that that would be basically 96 00:04:57,560 --> 00:05:02,240 Speaker 4: a bargain considering that his final game warn jerseys that's 97 00:05:02,320 --> 00:05:05,360 Speaker 4: the one from the Bucks, right, Yeah, from his professional career, 98 00:05:05,720 --> 00:05:09,120 Speaker 4: sold for one point four million dollars. But okay, well, 99 00:05:09,480 --> 00:05:10,599 Speaker 4: James and we're going to be on this. 100 00:05:10,680 --> 00:05:13,360 Speaker 8: So here's here's what I've heard about the rare market 101 00:05:13,400 --> 00:05:16,719 Speaker 8: for sports collectibles and high end you know, watches and whatnot. 102 00:05:16,920 --> 00:05:18,600 Speaker 8: I heard that the market's not doing great this year. 103 00:05:18,640 --> 00:05:21,359 Speaker 8: I heard that, you know, sales are down, you know, 104 00:05:21,440 --> 00:05:24,400 Speaker 8: roughly twenty seven percent year or over year for sports collectibles. 105 00:05:24,440 --> 00:05:27,279 Speaker 8: I've heard that even that Bucks jersey was supposed to 106 00:05:27,279 --> 00:05:29,440 Speaker 8: go for one point five only went for one point 107 00:05:29,480 --> 00:05:32,400 Speaker 8: four million dollars. Is the market topping out? Is Tim 108 00:05:32,440 --> 00:05:35,120 Speaker 8: trying to top tick the market here before something happens. 109 00:05:34,920 --> 00:05:38,080 Speaker 4: Well, that's certainly a theory. I can't speak to his motivation, 110 00:05:38,960 --> 00:05:42,920 Speaker 4: but I can say that you are absolutely corrected at 111 00:05:42,920 --> 00:05:48,479 Speaker 4: the overall market conditions. The fact is that collectibles as 112 00:05:48,600 --> 00:05:51,960 Speaker 4: a very broad category are much softer than they were 113 00:05:51,960 --> 00:05:55,240 Speaker 4: a couple of years ago, when people had more disposable income. 114 00:05:55,320 --> 00:05:58,159 Speaker 4: Even at the highest highest level, people had more disposable 115 00:05:58,200 --> 00:06:01,000 Speaker 4: income and they had less to do with their money. Obviously, 116 00:06:01,000 --> 00:06:03,960 Speaker 4: we're talking about during the pandemic when prices for collectible 117 00:06:04,040 --> 00:06:08,240 Speaker 4: is just absolutely skyrocketed. And actually we even have a 118 00:06:08,320 --> 00:06:12,320 Speaker 4: much more recent data point. Just a few days ago, 119 00:06:12,440 --> 00:06:18,919 Speaker 4: Southeby sold a bunch of trading cards and there was 120 00:06:18,960 --> 00:06:21,919 Speaker 4: a trading card from the collection of Tom Brady that 121 00:06:21,960 --> 00:06:26,520 Speaker 4: he had sold. It was a Tom Brady Rookie autograph 122 00:06:26,600 --> 00:06:28,680 Speaker 4: and it was estimated during one hundred and sixty one 123 00:06:28,760 --> 00:06:31,839 Speaker 4: hundred and eighty thousand dollars with premiums. That means with 124 00:06:32,520 --> 00:06:35,919 Speaker 4: auction house fees. That actually went above a high estimate 125 00:06:35,920 --> 00:06:37,480 Speaker 4: to one hundred and ninety two thousand. But it's not 126 00:06:37,520 --> 00:06:41,400 Speaker 4: like it went crazy, right. This is not a frothy, 127 00:06:41,480 --> 00:06:50,400 Speaker 4: frothy market, so particularly for memorabilia, it's not like boom times. 128 00:06:50,760 --> 00:06:53,719 Speaker 4: Whether or not the memory of Bilian market continues to slip. 129 00:06:54,400 --> 00:06:56,240 Speaker 4: I don't have a crystal ball, so I can't tell you. 130 00:06:57,000 --> 00:06:57,240 Speaker 2: Yeah. 131 00:06:57,240 --> 00:07:00,960 Speaker 3: But the watches, though, I think that's going to just 132 00:07:01,120 --> 00:07:03,719 Speaker 3: fly because you cited in the article, Yeah. 133 00:07:03,600 --> 00:07:05,120 Speaker 8: Because you want to wear a watch that says Tom 134 00:07:05,120 --> 00:07:07,720 Speaker 8: Brady on it in diamonds. I mean, if that's your style. 135 00:07:07,760 --> 00:07:10,760 Speaker 3: This, m you know, that's the way I wrote, you know, but. 136 00:07:10,760 --> 00:07:12,920 Speaker 8: You know, you know, Tom, I just want to, you know, Michael, 137 00:07:13,240 --> 00:07:15,040 Speaker 8: feel me out on this, right because you know, I 138 00:07:15,040 --> 00:07:17,320 Speaker 8: think James brings up a good point. We don't know 139 00:07:17,360 --> 00:07:19,720 Speaker 8: what his motivation for, you know, selling all this is, 140 00:07:19,720 --> 00:07:22,120 Speaker 8: but I can give you some numbers here. Tom, in 141 00:07:22,120 --> 00:07:24,720 Speaker 8: his twenty three year career as a quarterback for the 142 00:07:24,760 --> 00:07:27,040 Speaker 8: New England Patriots, made three hundred and thirty three million dollars. 143 00:07:27,080 --> 00:07:29,520 Speaker 8: He signed a contract in twenty twenty two with Fox 144 00:07:29,560 --> 00:07:31,400 Speaker 8: for three hundred and seventy five million over ten years. 145 00:07:31,480 --> 00:07:35,080 Speaker 8: Let's forget about all his endorments endorsements over that period 146 00:07:35,080 --> 00:07:35,480 Speaker 8: of time. 147 00:07:35,640 --> 00:07:37,240 Speaker 4: The man is loaded. 148 00:07:37,520 --> 00:07:40,960 Speaker 8: So it makes you question why, now, like, why possibly 149 00:07:41,000 --> 00:07:43,320 Speaker 8: would you be trying to raise you know, under ten 150 00:07:43,360 --> 00:07:46,440 Speaker 8: million dollars by selling some of your prize possessions, right, 151 00:07:46,480 --> 00:07:48,080 Speaker 8: I mean, I'm just you know, I'm trying to wrap 152 00:07:48,080 --> 00:07:48,920 Speaker 8: my brain around that. 153 00:07:49,880 --> 00:07:50,560 Speaker 3: Well. 154 00:07:50,760 --> 00:07:54,520 Speaker 4: I can certainly say that there's more where this came from. 155 00:07:54,680 --> 00:07:57,480 Speaker 4: This is not the entirety of his watch. Question, I 156 00:07:57,560 --> 00:08:00,920 Speaker 4: asked sotherby, is what percentage of his watch clubs this represented. 157 00:08:01,360 --> 00:08:04,560 Speaker 4: They wouldn't tell me, but they indicated that this was 158 00:08:04,640 --> 00:08:09,080 Speaker 4: not exactly him doing a fire sale. So I think 159 00:08:09,160 --> 00:08:14,240 Speaker 4: that he's unloading some stuff. I don't know why, but 160 00:08:14,360 --> 00:08:17,600 Speaker 4: it's certainly not like it's selling the house, selling the car. 161 00:08:17,680 --> 00:08:19,440 Speaker 8: Sounds like he's trying to buy a football team here. 162 00:08:19,600 --> 00:08:19,800 Speaker 5: Yeah. 163 00:08:19,800 --> 00:08:22,280 Speaker 3: I was just thinking, well. 164 00:08:22,120 --> 00:08:23,880 Speaker 8: You know, look to I mean, look, and I'm sure 165 00:08:23,920 --> 00:08:25,320 Speaker 8: this has nothing to do with it, right, but we 166 00:08:25,360 --> 00:08:28,440 Speaker 8: remember FTX with Sam Banking Freed, you know, he was involved. 167 00:08:28,480 --> 00:08:30,280 Speaker 8: I think there's some lawsuits that are pending out there. 168 00:08:30,280 --> 00:08:32,600 Speaker 8: You know, he's just you know, he's getting divorced from Giselle. 169 00:08:32,600 --> 00:08:34,600 Speaker 8: I don't think there's anything there really to read into, right, 170 00:08:34,679 --> 00:08:38,440 Speaker 8: both of them are mega gazillionaires, right, So, but it's 171 00:08:38,480 --> 00:08:40,440 Speaker 8: just the timing is just maybe he is just trying 172 00:08:40,440 --> 00:08:42,360 Speaker 8: to top tick the market here for collectibles. 173 00:08:42,440 --> 00:08:45,080 Speaker 3: Sometimes you just get into that phase in your life 174 00:08:45,120 --> 00:08:47,800 Speaker 3: where it's like, you know what, I want to clear 175 00:08:47,880 --> 00:08:51,080 Speaker 3: the house all, dump some stuff. But well, Paul Newman, 176 00:08:51,120 --> 00:08:53,080 Speaker 3: That's why I was saying, Paul Newman did that? Yeah, 177 00:08:53,240 --> 00:08:56,600 Speaker 3: when and then the rolexes well sold, well. 178 00:08:56,360 --> 00:08:58,880 Speaker 4: Paul Newman was not alive when those roles is sold. 179 00:08:58,920 --> 00:09:05,160 Speaker 4: But yes, the their their rolexes from his collection that 180 00:09:05,200 --> 00:09:08,080 Speaker 4: there were once owned by him sold very well. Sylvester 181 00:09:08,160 --> 00:09:12,040 Speaker 4: Stallone just did that and made the Tulsa k made 182 00:09:12,120 --> 00:09:15,280 Speaker 4: a real buck with with watches. So there is an 183 00:09:15,320 --> 00:09:19,560 Speaker 4: indication that right now is a good time to sell 184 00:09:19,720 --> 00:09:23,760 Speaker 4: if it's there's this kind of quote unquote celebrity provenance. 185 00:09:24,720 --> 00:09:28,160 Speaker 4: And Tom Brady is many things, one of which is 186 00:09:28,160 --> 00:09:28,800 Speaker 4: a celebrity. 187 00:09:28,880 --> 00:09:30,760 Speaker 8: But but James, hold on, hold on, let's just be 188 00:09:30,840 --> 00:09:33,320 Speaker 8: really clear. There's Tom Brady and then there's Sly I 189 00:09:33,320 --> 00:09:36,880 Speaker 8: mean Sylvester Stallone, Rambo Rocky. I mean that's next level 190 00:09:36,920 --> 00:09:40,199 Speaker 8: stuff talking about the Tulsa King here Sylvester Stallone, I 191 00:09:40,240 --> 00:09:42,640 Speaker 8: mean his watches are work gold gold. 192 00:09:43,280 --> 00:09:47,760 Speaker 3: Yeah. But which name is known more around the world. 193 00:09:48,080 --> 00:09:49,000 Speaker 3: Sylvester still. 194 00:09:51,200 --> 00:09:51,440 Speaker 5: Rocky. 195 00:09:51,760 --> 00:09:53,040 Speaker 8: Well maybe not the best a rocky. 196 00:09:56,280 --> 00:10:00,920 Speaker 3: James Tary Bloomberg Pursuits. Thank you here for coming on 197 00:10:00,920 --> 00:10:03,120 Speaker 3: the show. We really do appreciate it. Thanks for having 198 00:10:03,160 --> 00:10:07,040 Speaker 3: me sticking with big old money. The latest episode of 199 00:10:07,160 --> 00:10:12,640 Speaker 3: the Deal with Alex Rodriguez and Jason Kelly features David Rubinstein, 200 00:10:12,720 --> 00:10:16,440 Speaker 3: co founder of the Carlisle Group, Jason and Alex spoke 201 00:10:16,480 --> 00:10:20,319 Speaker 3: to Rubinstein about his recent purchase of the Baltimore Orioles 202 00:10:20,600 --> 00:10:23,480 Speaker 3: and how he sees team ownership. Let's take a listen 203 00:10:23,600 --> 00:10:25,240 Speaker 3: to a portion of their conversation. 204 00:10:25,480 --> 00:10:27,800 Speaker 9: Well, I have to be very honest, I don't know 205 00:10:27,920 --> 00:10:31,200 Speaker 9: as much about baseball as as maybe I wish I did. 206 00:10:31,360 --> 00:10:34,400 Speaker 9: I played Little league baseball, and I peaked at eleven, 207 00:10:36,320 --> 00:10:38,800 Speaker 9: and then then twelve or thirteen, people started getting bigger 208 00:10:38,800 --> 00:10:41,000 Speaker 9: than me. And I thought when I was eleven, you know, 209 00:10:41,040 --> 00:10:43,600 Speaker 9: maybe Jewish Little League all stars would get to. 210 00:10:43,559 --> 00:10:44,160 Speaker 3: The major leagues. 211 00:10:44,160 --> 00:10:46,480 Speaker 9: But I found that that doesn't usually happen. So I 212 00:10:46,559 --> 00:10:49,840 Speaker 9: haven't followed baseball as closely as other people have, and 213 00:10:49,880 --> 00:10:52,600 Speaker 9: therefore I'm learning the game right now. We have a 214 00:10:52,760 --> 00:10:55,640 Speaker 9: general manager who was voted the American League General Manager 215 00:10:55,679 --> 00:10:57,640 Speaker 9: of the Year last year. His name is Mike Elias, 216 00:10:57,679 --> 00:11:00,800 Speaker 9: who was a baseball player at Yale person from the 217 00:11:00,840 --> 00:11:03,160 Speaker 9: Washington area, went to high school in Washington. He has 218 00:11:04,080 --> 00:11:08,120 Speaker 9: what they call sabermetrics down cold. What was described as 219 00:11:08,160 --> 00:11:12,200 Speaker 9: moneyball years ago is hieroglyphics compared to what it is today, 220 00:11:12,360 --> 00:11:15,720 Speaker 9: because today it's so much more sophisticated. And so when 221 00:11:15,720 --> 00:11:18,959 Speaker 9: he comes to me and Mike Arraghetty and says, this 222 00:11:19,000 --> 00:11:21,440 Speaker 9: player is worth X or y or Z. I don't 223 00:11:21,440 --> 00:11:23,840 Speaker 9: really know how I can challenge him because he knows 224 00:11:23,920 --> 00:11:26,040 Speaker 9: much more than I do, and he's got about twenty 225 00:11:26,040 --> 00:11:29,600 Speaker 9: some people on his team that do statistics and do 226 00:11:29,679 --> 00:11:32,520 Speaker 9: scouting and so forth. So it's hard for me to say, well, 227 00:11:32,559 --> 00:11:34,839 Speaker 9: you should do this or do that. So I am 228 00:11:34,880 --> 00:11:37,480 Speaker 9: the type of owner right now says I'd like to 229 00:11:37,480 --> 00:11:39,920 Speaker 9: be informed. If you want my judgment, I'm happy to 230 00:11:39,960 --> 00:11:41,720 Speaker 9: give it to you, But I really don't have enough 231 00:11:42,240 --> 00:11:44,880 Speaker 9: knowledge to tell you do something different than you want 232 00:11:44,880 --> 00:11:47,199 Speaker 9: to do. So, for example, when the trading deadline came 233 00:11:47,240 --> 00:11:49,840 Speaker 9: and everybody's sitting around for a couple days trading, I 234 00:11:49,960 --> 00:11:51,920 Speaker 9: really don't have the ability to say you should get 235 00:11:51,920 --> 00:11:54,360 Speaker 9: this picture versus that picture. I don't have that kind 236 00:11:54,360 --> 00:11:56,959 Speaker 9: of background. So I can help him by I can 237 00:11:56,960 --> 00:11:58,679 Speaker 9: help the team by saying, look, I know the CEO 238 00:11:58,720 --> 00:12:00,719 Speaker 9: of this company. Maybe they can be an apptiser where 239 00:12:00,720 --> 00:12:03,480 Speaker 9: they could buy sponsorships. I can do that now. If 240 00:12:03,480 --> 00:12:06,120 Speaker 9: I'd seen Alex Rodriguez, I'd say we should get this 241 00:12:06,160 --> 00:12:07,000 Speaker 9: guy signed up. 242 00:12:08,440 --> 00:12:11,320 Speaker 3: That is David Rubinstein on the latest episode of the 243 00:12:11,440 --> 00:12:15,560 Speaker 3: Deal with Alex Rodriguez San Jason Kelly Rubertstein, of course, 244 00:12:16,040 --> 00:12:20,319 Speaker 3: is the host of The David Rubinstein Show Tiered Peer Conversations, 245 00:12:20,440 --> 00:12:24,280 Speaker 3: which airs on Bloomberg Radio and television. And Catch The 246 00:12:24,360 --> 00:12:28,520 Speaker 3: Deal on Wednesdays at six pm Eastern on Bloomberg Television, 247 00:12:28,640 --> 00:12:32,560 Speaker 3: stream it at eight pm Eastern on Bloomberg Originals, and 248 00:12:32,679 --> 00:12:36,720 Speaker 3: find the podcast on your favorite podcast platform. Up next, 249 00:12:36,720 --> 00:12:40,400 Speaker 3: we pivot to hockey with former New York Rangers Stanley 250 00:12:40,440 --> 00:12:44,840 Speaker 3: Cup winning coach Mike Keenan for Damians Assauer. I'm Michael 251 00:12:44,920 --> 00:12:47,559 Speaker 3: mar You're listening to the Bloomberg Business of Sports from 252 00:12:47,600 --> 00:12:54,720 Speaker 3: Bloomberg Radio. Around the world, You're listening to Bloomberg Business 253 00:12:54,720 --> 00:12:59,960 Speaker 3: of Sports from Bloomberg Radio. This is the Bloomberg Business 254 00:13:00,040 --> 00:13:03,559 Speaker 3: of Sports. We explore some of the big issues in 255 00:13:03,559 --> 00:13:04,240 Speaker 3: the world of sports. 256 00:13:04,280 --> 00:13:07,280 Speaker 1: I'm Michael Barr, I'm Scarlett Foo and Don Demian Scouts hour. 257 00:13:07,480 --> 00:13:11,640 Speaker 3: Hey, guess who we have. I'll give you a hint. 258 00:13:11,880 --> 00:13:15,640 Speaker 3: He's a former Stanley Cup winning head coach when he 259 00:13:15,800 --> 00:13:20,319 Speaker 3: was with the Rangers, NHL Coach of the Year when 260 00:13:20,400 --> 00:13:25,120 Speaker 3: he was with the Flyers. Mike Keenan Iron Mike, how 261 00:13:25,320 --> 00:13:27,640 Speaker 3: are you sir, and a pleasure to talk with you 262 00:13:27,679 --> 00:13:29,160 Speaker 3: in the Bloomberg business of sports. 263 00:13:29,360 --> 00:13:32,760 Speaker 10: Thank you so much. I'm super nice to be on 264 00:13:32,800 --> 00:13:33,480 Speaker 10: the phone with you. 265 00:13:33,920 --> 00:13:37,360 Speaker 3: Yeah, it's hockey time is here. I mean, we we've 266 00:13:37,360 --> 00:13:38,800 Speaker 3: got them all over the place, you know. 267 00:13:38,880 --> 00:13:40,560 Speaker 10: Scarlet's Rangers all going on. 268 00:13:41,880 --> 00:13:45,160 Speaker 3: Yeah, we got it going on. It's this is great 269 00:13:45,200 --> 00:13:48,320 Speaker 3: and I am what do you think about, you know, 270 00:13:49,080 --> 00:13:52,480 Speaker 3: hockey and the face of it now because we got 271 00:13:52,480 --> 00:13:55,959 Speaker 3: a brand new start to the season and uh, you 272 00:13:56,240 --> 00:13:59,439 Speaker 3: got a lot of excited NHL fans. 273 00:14:00,480 --> 00:14:04,280 Speaker 10: It's a really competitive trophy to win, as you know. 274 00:14:04,679 --> 00:14:08,280 Speaker 10: You just mentioned Stenta Cup in ninety four with the 275 00:14:08,320 --> 00:14:11,480 Speaker 10: New York Rangers and it's been one cup in eighty 276 00:14:11,480 --> 00:14:19,200 Speaker 10: four years now, but many franchises have suffered the same fate. 277 00:14:19,400 --> 00:14:22,880 Speaker 10: It's really a difficult trophy to win, and it has 278 00:14:22,960 --> 00:14:25,240 Speaker 10: to begin in the fall when you bring the players 279 00:14:25,240 --> 00:14:28,520 Speaker 10: together for training camp and you assemble a group, and 280 00:14:28,560 --> 00:14:32,040 Speaker 10: then you build your team and you try to educate 281 00:14:32,080 --> 00:14:35,680 Speaker 10: them and teach them about winning and what the ultimate 282 00:14:35,720 --> 00:14:39,720 Speaker 10: goal is going to be and transitioning the season into 283 00:14:39,840 --> 00:14:43,760 Speaker 10: playoff hockey and then into the finals. It's quite a process. 284 00:14:43,800 --> 00:14:46,960 Speaker 10: Over eighty two games it certainly is. 285 00:14:47,720 --> 00:14:50,040 Speaker 1: And you think about the teams that don't just do 286 00:14:50,040 --> 00:14:52,480 Speaker 1: it once, but do them multiple times their dynasties and 287 00:14:52,600 --> 00:14:56,120 Speaker 1: basketball of late, you have Golden State. Certainly in football 288 00:14:56,200 --> 00:14:59,440 Speaker 1: you have Kansas City. I'm curious to get your take 289 00:14:59,480 --> 00:15:02,600 Speaker 1: on whether do you see the Florida Panthers as a 290 00:15:02,640 --> 00:15:06,120 Speaker 1: potential dynasty team? Are they built in terms of talent 291 00:15:06,200 --> 00:15:09,040 Speaker 1: and front office like a dynasty team? What do you 292 00:15:09,080 --> 00:15:12,440 Speaker 1: think are the odds of a Florida Panthers repeat, Well. 293 00:15:12,320 --> 00:15:15,520 Speaker 10: They've got a chance. I believe they do. They didn't 294 00:15:15,560 --> 00:15:19,600 Speaker 10: make that many changes with the salary caps. Sometimes you're 295 00:15:19,600 --> 00:15:24,240 Speaker 10: forced into trading players or moving some players in parts 296 00:15:24,280 --> 00:15:30,600 Speaker 10: of but usually championship teams retool a little bit. They 297 00:15:31,160 --> 00:15:35,720 Speaker 10: adopted probably an old style mentality with Paul Maurice, a 298 00:15:35,760 --> 00:15:39,200 Speaker 10: little bit old school, and they reverted back to the 299 00:15:40,080 --> 00:15:43,920 Speaker 10: way the game was played with more assertive, more aggression, 300 00:15:44,120 --> 00:15:48,680 Speaker 10: more physical play. They sustained it without putting themselves in 301 00:15:48,760 --> 00:15:52,960 Speaker 10: jeopardy in the pallet box to too often. But it 302 00:15:53,000 --> 00:15:56,640 Speaker 10: was kind of refreshing to watch them win the Cup 303 00:15:56,760 --> 00:16:03,000 Speaker 10: with that kind of built in mentality system play and competitiveness, 304 00:16:03,080 --> 00:16:06,160 Speaker 10: and that's what it takes. You have to separate yourself 305 00:16:06,960 --> 00:16:10,040 Speaker 10: from the rest of the teams in the league somehow, 306 00:16:10,680 --> 00:16:13,120 Speaker 10: and that was the formula that they used, and I 307 00:16:13,400 --> 00:16:16,200 Speaker 10: see that they have no reason not to believe they 308 00:16:16,240 --> 00:16:18,400 Speaker 10: could possibly repeat. 309 00:16:19,640 --> 00:16:23,840 Speaker 8: Coach you have coached the Flyers, the Blackoffs, the Rangers. 310 00:16:23,840 --> 00:16:27,720 Speaker 8: You've coached Brett Hull, Wayne Gretz, Key, Mario Lemieux talk 311 00:16:27,760 --> 00:16:29,880 Speaker 8: to us about the bread man. What's going on here 312 00:16:29,920 --> 00:16:32,160 Speaker 8: in New York? Should we get excited about the Rangers 313 00:16:32,200 --> 00:16:34,400 Speaker 8: this season? I mean, I know that that's really what's 314 00:16:34,440 --> 00:16:35,440 Speaker 8: called it wants to be asking. 315 00:16:37,560 --> 00:16:40,200 Speaker 10: Well, they had a superseded the regular season last season, 316 00:16:41,080 --> 00:16:44,560 Speaker 10: and they fell a little bit short in the playoffs, 317 00:16:45,320 --> 00:16:51,760 Speaker 10: and hopefully they can learn what that next step will 318 00:16:52,560 --> 00:16:54,880 Speaker 10: will take or what it means to them and how 319 00:16:54,920 --> 00:16:59,160 Speaker 10: to take that next step. As the great One once 320 00:16:59,240 --> 00:17:03,160 Speaker 10: said Wayne gret there's a preseason, regular season, the first 321 00:17:03,240 --> 00:17:06,879 Speaker 10: three rounds of the playoffs in the finals, so they're close, 322 00:17:07,000 --> 00:17:11,359 Speaker 10: but that they have to, in my opinion, they have 323 00:17:11,520 --> 00:17:17,320 Speaker 10: to step up that intensity a little bit to a 324 00:17:17,320 --> 00:17:20,600 Speaker 10: better degree or more degree. I was very fortunate coach 325 00:17:21,240 --> 00:17:24,680 Speaker 10: great players in New York and we were able to 326 00:17:24,720 --> 00:17:27,560 Speaker 10: sustain that type of approach. We won the Presidence Trophy 327 00:17:27,640 --> 00:17:31,080 Speaker 10: just as the Rangers did last season, and then we 328 00:17:31,080 --> 00:17:33,639 Speaker 10: were able to complete it with the playoff run. But 329 00:17:33,760 --> 00:17:38,640 Speaker 10: that's a tough assignment. Stay healthy and learn from your 330 00:17:38,720 --> 00:17:40,159 Speaker 10: past experiences. 331 00:17:40,680 --> 00:17:43,840 Speaker 3: You are out with a brand new book, Iron Mike, 332 00:17:44,040 --> 00:17:47,040 Speaker 3: My Life behind the Bench, and I started reading some 333 00:17:47,160 --> 00:17:48,560 Speaker 3: of it, and all of a sudden it's like, Oh, 334 00:17:49,119 --> 00:17:51,520 Speaker 3: we got to go in and do the show. Yeah, 335 00:17:52,480 --> 00:17:55,880 Speaker 3: tell us about this book? Is it's a very good read? 336 00:17:56,560 --> 00:17:59,399 Speaker 10: Well? It took a couple of years to write. I 337 00:17:59,520 --> 00:18:04,120 Speaker 10: was reluctant to do it. Jay Greenberg, who God blesses 338 00:18:04,200 --> 00:18:07,680 Speaker 10: so passed, he started the project as a writer from 339 00:18:08,160 --> 00:18:13,560 Speaker 10: Philadelphia and New York, as you may remember him, while 340 00:18:13,720 --> 00:18:16,200 Speaker 10: of all things, he died of West Nile. I thought 341 00:18:16,200 --> 00:18:20,800 Speaker 10: it was COVID and then Hall of Fame writer as well. 342 00:18:20,880 --> 00:18:24,600 Speaker 10: Scott Morrison was editing. He picked it up. We had 343 00:18:24,640 --> 00:18:28,400 Speaker 10: a time frame there where we didn't do much work 344 00:18:28,440 --> 00:18:30,480 Speaker 10: on it. It took a couple of years to put together, 345 00:18:30,560 --> 00:18:35,360 Speaker 10: but I think Scott poked the bear quite a bit 346 00:18:35,480 --> 00:18:39,399 Speaker 10: to get me to tell a little bit about each stop, 347 00:18:39,480 --> 00:18:45,879 Speaker 10: and the chapters he built were based on different teams. 348 00:18:45,920 --> 00:18:50,600 Speaker 10: I coached at various levels, so it's completed now and 349 00:18:50,600 --> 00:18:53,640 Speaker 10: then I think Scott did a super job and Mark 350 00:18:53,720 --> 00:18:57,119 Speaker 10: Messier our fans would be interested to read the forward 351 00:18:57,160 --> 00:19:00,520 Speaker 10: he did. He was very kind and jay interest and 352 00:19:01,640 --> 00:19:04,520 Speaker 10: forward towards his coach Mike Keenan. 353 00:19:04,960 --> 00:19:08,040 Speaker 1: Well, speaking of Mark Messier, you reflect in the chapters 354 00:19:08,160 --> 00:19:11,960 Speaker 1: on your time in New York on a singular leadership 355 00:19:12,080 --> 00:19:13,840 Speaker 1: role that mess took on the ice and in the 356 00:19:13,880 --> 00:19:16,480 Speaker 1: locker room. Both of your goals were aligned and all 357 00:19:16,720 --> 00:19:18,800 Speaker 1: that was required some of the time was you glancing 358 00:19:18,840 --> 00:19:20,360 Speaker 1: at him and he kind of picked up the ball 359 00:19:20,359 --> 00:19:22,800 Speaker 1: and knew exactly what to do. Who do you think 360 00:19:22,840 --> 00:19:26,160 Speaker 1: is that person today in the NHL? Does that kind 361 00:19:26,160 --> 00:19:28,960 Speaker 1: of role still exist or is it kind of a 362 00:19:29,680 --> 00:19:31,239 Speaker 1: is there one person who does that or is it 363 00:19:31,400 --> 00:19:33,440 Speaker 1: just a combination of different people. 364 00:19:34,119 --> 00:19:37,560 Speaker 10: Well, I think that each team has leadership groups, and 365 00:19:37,600 --> 00:19:42,720 Speaker 10: Mark was supported really well by our players and the 366 00:19:42,840 --> 00:19:47,159 Speaker 10: leaders on the team. But the exceptional players still have 367 00:19:47,320 --> 00:19:52,600 Speaker 10: that capability, and I can see probably the most prolific 368 00:19:52,640 --> 00:19:55,600 Speaker 10: player in the game today, Connor mcdave, has taken that 369 00:19:55,800 --> 00:19:58,879 Speaker 10: responsibility on. They went to the finals and they have 370 00:19:58,960 --> 00:20:01,399 Speaker 10: to learn to take that final step as well. But 371 00:20:02,359 --> 00:20:07,480 Speaker 10: I coached him in some charity games and he's a 372 00:20:07,560 --> 00:20:11,720 Speaker 10: real engaged individual as well. So we'll see how that 373 00:20:11,760 --> 00:20:15,600 Speaker 10: plays out with most teams. And I just made a 374 00:20:15,680 --> 00:20:22,640 Speaker 10: reference earlier about Taychuk taking that responsibility and being that 375 00:20:22,640 --> 00:20:26,480 Speaker 10: that sandpaper, that that ingredient for the Florida Panthers, that 376 00:20:26,640 --> 00:20:31,439 Speaker 10: was contagious and from his father, he had learned and 377 00:20:31,560 --> 00:20:37,119 Speaker 10: watched professional hockey at the NHL level while he was 378 00:20:37,119 --> 00:20:40,600 Speaker 10: growing up, and they were able to sustain it and 379 00:20:40,640 --> 00:20:45,000 Speaker 10: build it into the into the Florida Panthers. So it's 380 00:20:45,800 --> 00:20:50,040 Speaker 10: every team needs to have a conduit, a player that 381 00:20:50,160 --> 00:20:54,560 Speaker 10: can reach out to the coaching staff at the same 382 00:20:54,640 --> 00:21:00,439 Speaker 10: time enforce that that belief or enforce that messager mission 383 00:21:01,400 --> 00:21:03,480 Speaker 10: amongst the players in the room. 384 00:21:03,800 --> 00:21:05,400 Speaker 1: Does it have to be the best player on the ice? 385 00:21:06,560 --> 00:21:10,080 Speaker 10: Not necessarily. No, We had some great players Hall of 386 00:21:10,119 --> 00:21:14,240 Speaker 10: famers and Brian Leech anchored the defense, and mess and 387 00:21:14,320 --> 00:21:17,159 Speaker 10: Graves and I can go on and on with all that. 388 00:21:17,160 --> 00:21:20,560 Speaker 10: I could name every player in the team. Zuboff was 389 00:21:20,600 --> 00:21:25,880 Speaker 10: the exceptional COVID exceptional talent, larmer Teak and then everybody 390 00:21:25,920 --> 00:21:29,119 Speaker 10: knows Steph m Attold, mctavis, Noonan and I can go 391 00:21:29,160 --> 00:21:33,560 Speaker 10: through the whole lineup, but you need the Mark was 392 00:21:34,440 --> 00:21:40,320 Speaker 10: the centerpiece in the group and from day one that belief. 393 00:21:41,080 --> 00:21:43,240 Speaker 10: I can share a little story when I first went there, 394 00:21:43,240 --> 00:21:46,240 Speaker 10: at our first, very first meeting, I showed a parade, 395 00:21:46,359 --> 00:21:48,280 Speaker 10: but it wasn't the hockey Prey because there was no 396 00:21:48,320 --> 00:21:53,040 Speaker 10: hockey prey the show. So I showed the Yankees winning 397 00:21:53,680 --> 00:21:58,600 Speaker 10: the World Series and the prey that subsequently was held 398 00:21:58,640 --> 00:22:01,800 Speaker 10: in New York. Arc started to have tears running down 399 00:22:01,840 --> 00:22:04,960 Speaker 10: his cheek and he's sitting about fifteen feet from me, 400 00:22:05,000 --> 00:22:06,960 Speaker 10: and I said to myself, we have a chance to 401 00:22:07,000 --> 00:22:10,480 Speaker 10: win because the leader of this group is so invested 402 00:22:10,520 --> 00:22:15,680 Speaker 10: in that accomplishment or that idea or that goal that 403 00:22:15,720 --> 00:22:18,760 Speaker 10: we have a chance. Right from day one, I knew 404 00:22:18,760 --> 00:22:19,840 Speaker 10: we had a chance to win. 405 00:22:20,320 --> 00:22:22,960 Speaker 8: Coach, you were born in Ontario. Your first coaching job 406 00:22:23,040 --> 00:22:26,480 Speaker 8: was at Forrest Hooke Collegiate Institute in Toronto. Talk to 407 00:22:26,560 --> 00:22:29,520 Speaker 8: us about the chances that a Canadian franchise are going 408 00:22:29,600 --> 00:22:32,560 Speaker 8: to end the country's drought. I mean, the last time 409 00:22:32,640 --> 00:22:35,359 Speaker 8: a Canadian team won the Stanley Cup was in nineteen 410 00:22:35,440 --> 00:22:38,360 Speaker 8: ninety three, the Montreal Canadians. I mean, is there any 411 00:22:38,440 --> 00:22:40,639 Speaker 8: chance maybe Edmonton breaks through this year. I mean, what 412 00:22:40,680 --> 00:22:41,640 Speaker 8: are your thoughts. 413 00:22:42,600 --> 00:22:46,760 Speaker 10: Well, I think that you're right. The country is starving 414 00:22:46,800 --> 00:22:51,480 Speaker 10: for a Stanley Cup. But I do believe they Edmonton Oilers, 415 00:22:52,600 --> 00:22:55,960 Speaker 10: because of their experience of going to the Stanley Cup finals, 416 00:22:56,000 --> 00:22:59,440 Speaker 10: are knocking on the door and it's going to take 417 00:23:01,600 --> 00:23:04,639 Speaker 10: an incredible amount of energy to repeat that. But at 418 00:23:04,680 --> 00:23:07,119 Speaker 10: the same time, they've had that experience and they've got 419 00:23:07,200 --> 00:23:10,480 Speaker 10: the best player in the world on their team. So 420 00:23:10,560 --> 00:23:13,800 Speaker 10: I think that if there's any Canadian team right now 421 00:23:14,440 --> 00:23:17,880 Speaker 10: post in a position to win, I think it's Edmonton. 422 00:23:18,200 --> 00:23:19,720 Speaker 3: I know we're running out of time, but I'm going 423 00:23:19,800 --> 00:23:23,560 Speaker 3: to bring something up that I know. It's the question 424 00:23:23,680 --> 00:23:28,240 Speaker 3: that has always asked because you got gambling in everything. 425 00:23:28,359 --> 00:23:31,320 Speaker 3: Now if you have Marble racing that got gambling in it, 426 00:23:31,800 --> 00:23:34,919 Speaker 3: everything is going on here. How do you think it 427 00:23:34,920 --> 00:23:38,760 Speaker 3: has impacted the NHL with online gambling. 428 00:23:40,280 --> 00:23:42,720 Speaker 10: Well, I don't think the players paid too much attention 429 00:23:42,800 --> 00:23:49,879 Speaker 10: to it, So that's the most important thing, and I 430 00:23:51,240 --> 00:23:54,960 Speaker 10: believe that that's true. I hope that that's true. That 431 00:23:55,000 --> 00:24:01,000 Speaker 10: there's nothing in the insider's position, but the fans certainly 432 00:24:01,040 --> 00:24:05,439 Speaker 10: are engaged with gambling in all sports. But hockey, I 433 00:24:05,480 --> 00:24:08,280 Speaker 10: think is still as pure as you can get it, 434 00:24:08,600 --> 00:24:14,000 Speaker 10: and for me, that's something I would be proud of and. 435 00:24:14,040 --> 00:24:16,760 Speaker 1: Coach before we let you go. There's currently thirty two 436 00:24:16,760 --> 00:24:18,840 Speaker 1: teams in the NHL, which is kind of an ideal 437 00:24:18,920 --> 00:24:22,120 Speaker 1: number for a playoff structure. Right You've got four divisions 438 00:24:22,160 --> 00:24:24,440 Speaker 1: of eight teams each, or you could be like the 439 00:24:24,520 --> 00:24:27,000 Speaker 1: NFL and have eight divisions of four teams each. What 440 00:24:27,080 --> 00:24:29,080 Speaker 1: do you think are the prospects for a league expansion 441 00:24:30,119 --> 00:24:32,680 Speaker 1: given that you have thirty two teams right now? Does 442 00:24:32,680 --> 00:24:35,080 Speaker 1: the NHL need more teams? 443 00:24:36,000 --> 00:24:38,520 Speaker 10: I don't think that they do. But mister Bedman's done 444 00:24:38,560 --> 00:24:43,240 Speaker 10: a super job with the business model, and there may 445 00:24:43,280 --> 00:24:47,400 Speaker 10: be speculation that they're going to expand, but I think 446 00:24:47,440 --> 00:24:51,399 Speaker 10: that the depth of each team has to be sustained. 447 00:24:51,480 --> 00:24:54,479 Speaker 10: I use that word again repeatedly in the fact that 448 00:24:54,760 --> 00:24:59,320 Speaker 10: the player pool is worldwide now with fifty countries involved 449 00:24:59,320 --> 00:25:01,960 Speaker 10: in playing hockey. You but we want to set a 450 00:25:02,040 --> 00:25:05,320 Speaker 10: standard word. It's still in an elite league and if 451 00:25:05,359 --> 00:25:10,359 Speaker 10: you continue to expand it, then it kind of takes 452 00:25:10,359 --> 00:25:14,920 Speaker 10: away from the quality of the league. 453 00:25:15,160 --> 00:25:18,080 Speaker 3: Our thanks to Mike keenan former New York Rangers Stanley 454 00:25:18,080 --> 00:25:20,760 Speaker 3: Cup winning head coach for joining us on the show. 455 00:25:20,840 --> 00:25:23,400 Speaker 3: Here up next, we had to Dallas in here from 456 00:25:23,520 --> 00:25:27,080 Speaker 3: Cowboys owner Jerry Jones and how he is teaming up 457 00:25:27,240 --> 00:25:31,480 Speaker 3: with Roger Penske, my colleague Scarlett fo and to Damian Sasauur. 458 00:25:31,720 --> 00:25:35,000 Speaker 3: I'm Michael Barr. You're listening to the Bloomberg Business of 459 00:25:35,040 --> 00:25:38,639 Speaker 3: Sports from Bloomberger Radio. Around the world. 460 00:25:43,680 --> 00:25:48,840 Speaker 2: You're listening to Bloomberg Business of Sports from Bloomberg Radio. 461 00:25:49,800 --> 00:25:51,960 Speaker 3: Thank you for joining us on the Bloomberg Business of 462 00:25:52,000 --> 00:25:54,240 Speaker 3: Sports show, where we explored the big money issues in 463 00:25:54,280 --> 00:25:58,160 Speaker 3: the world of sports. Michael Barr. Dallas Cowboys owner Jerry 464 00:25:58,240 --> 00:26:02,520 Speaker 3: Jones says he's hees huge growth left as private equity 465 00:26:02,680 --> 00:26:07,240 Speaker 3: enters the NFL. He also sees big opportunity with IndyCar racing. 466 00:26:07,600 --> 00:26:10,320 Speaker 3: He's partnering up with Roger Penske to bring racing to 467 00:26:10,359 --> 00:26:15,080 Speaker 3: the streets outside at and T Stadium in Arlington. Bloomberg 468 00:26:15,240 --> 00:26:20,200 Speaker 3: Original's Chief correspondent Jason Kelly and Bloomberg Texas Bureau chief 469 00:26:20,400 --> 00:26:22,960 Speaker 3: Julie Finne got a chance to catch up with the 470 00:26:22,960 --> 00:26:27,399 Speaker 3: two billionaires. Let's dive into their conversation, starting with Roger 471 00:26:27,520 --> 00:26:30,640 Speaker 3: talking about how long he's known Jerry Jones. 472 00:26:30,960 --> 00:26:34,159 Speaker 5: Well, I think we go back twenty five years. I 473 00:26:34,160 --> 00:26:37,040 Speaker 5: think the first time that we met, and I think 474 00:26:37,080 --> 00:26:41,439 Speaker 5: I mentioned it before I had to give a proposal 475 00:26:42,040 --> 00:26:44,800 Speaker 5: to the owners and Jerry was in the front row. 476 00:26:44,920 --> 00:26:47,639 Speaker 5: I remember to try to get the Super Bowl to 477 00:26:47,680 --> 00:26:50,399 Speaker 5: come to Detroit. So we're back here again for another 478 00:26:50,560 --> 00:26:51,200 Speaker 5: iconic moment. 479 00:26:51,440 --> 00:26:56,879 Speaker 7: Well, it took Roger and a great Detroit group to 480 00:26:56,920 --> 00:27:00,720 Speaker 7: get that super Bowl because there's a was a mentality 481 00:27:00,760 --> 00:27:03,159 Speaker 7: of man, have your super Bowl where the sun is 482 00:27:03,200 --> 00:27:07,399 Speaker 7: shining on January, we can play golf. And here comes 483 00:27:07,520 --> 00:27:11,160 Speaker 7: Roger Penske leading the charge through the door, saying, where 484 00:27:11,240 --> 00:27:13,760 Speaker 7: this super Bowl needs to be is where it can 485 00:27:13,800 --> 00:27:17,119 Speaker 7: be cold, but the feelings will be warm. We'll warm 486 00:27:17,119 --> 00:27:20,679 Speaker 7: it up for you up there. And he was unquestionably 487 00:27:21,640 --> 00:27:26,800 Speaker 7: the figurehead or the face that was persuasive to the 488 00:27:26,920 --> 00:27:30,720 Speaker 7: NFL owners for us to go that way. Now, the 489 00:27:30,760 --> 00:27:36,040 Speaker 7: Fords are so beloved and leading the pack for the 490 00:27:36,080 --> 00:27:39,879 Speaker 7: Fords would be me. I truthfully will tell you that 491 00:27:39,960 --> 00:27:42,560 Speaker 7: when I got involved in the NFL, one of motivating 492 00:27:42,640 --> 00:27:46,360 Speaker 7: things was the fact that the Fords had the Detroit Lines, 493 00:27:47,320 --> 00:27:51,239 Speaker 7: a part of America, part of the automobile business was 494 00:27:51,680 --> 00:27:54,399 Speaker 7: a part of the NFL through the Ford, so I 495 00:27:54,480 --> 00:27:57,200 Speaker 7: was excited about being there and I was very all 496 00:27:57,280 --> 00:28:02,359 Speaker 7: ears open minded when Roger was the Detroit application. 497 00:28:02,000 --> 00:28:02,959 Speaker 3: Well you made a difference. 498 00:28:03,040 --> 00:28:06,080 Speaker 5: I can tell you our city today. That was really 499 00:28:06,440 --> 00:28:09,080 Speaker 5: I think the pivot for the city detric to Orions 500 00:28:09,119 --> 00:28:11,680 Speaker 5: today was at Super Bowl in two thousand and. 501 00:28:11,600 --> 00:28:14,760 Speaker 11: Six, and so obviously you stayed in touch over the years. 502 00:28:14,800 --> 00:28:19,199 Speaker 11: So how did this combination of such strong people and 503 00:28:19,280 --> 00:28:20,960 Speaker 11: so many teams actually happen? 504 00:28:21,680 --> 00:28:25,160 Speaker 5: Well, I'd say that it really my son Greg, we 505 00:28:25,200 --> 00:28:27,800 Speaker 5: bought the Speedway and off always a series in two 506 00:28:27,840 --> 00:28:31,560 Speaker 5: thousand and we were looking at a major locations that 507 00:28:31,600 --> 00:28:33,879 Speaker 5: we could bring our series to and there was no 508 00:28:34,000 --> 00:28:37,000 Speaker 5: question you know that Arlington and Dallas just stuck out. 509 00:28:37,280 --> 00:28:40,640 Speaker 5: We need to contact there. So through relationships we had 510 00:28:40,680 --> 00:28:44,560 Speaker 5: with Jerry's team, and certainly that manifested over a number 511 00:28:44,600 --> 00:28:47,320 Speaker 5: of years. It didn't happen overnight, because this is a 512 00:28:47,360 --> 00:28:50,760 Speaker 5: thought process. The fact that how we do business, our 513 00:28:50,800 --> 00:28:53,680 Speaker 5: experience at the Speedway now I think gives us I 514 00:28:53,720 --> 00:28:56,840 Speaker 5: think the capabilities and obviously to be able to come 515 00:28:56,840 --> 00:28:58,400 Speaker 5: here and tell Jerry we're going to come here and 516 00:28:58,400 --> 00:29:00,280 Speaker 5: bring something the way you do business. 517 00:29:00,600 --> 00:29:02,880 Speaker 6: All right, So Jerry, talk to us about the scope 518 00:29:02,920 --> 00:29:05,240 Speaker 6: and scale of this. I mean, they're going to be 519 00:29:05,320 --> 00:29:09,520 Speaker 6: race cars going around these streets in just a few years. 520 00:29:09,000 --> 00:29:13,520 Speaker 6: What is this compared to in terms of what you've 521 00:29:13,560 --> 00:29:15,480 Speaker 6: done already here in Texas? 522 00:29:15,560 --> 00:29:16,120 Speaker 2: Well, the. 523 00:29:17,840 --> 00:29:22,120 Speaker 7: Image, if you will, from looking at five and ten 524 00:29:22,200 --> 00:29:26,640 Speaker 7: thousand feet is that this is happening. That's going on 525 00:29:26,920 --> 00:29:31,960 Speaker 7: going on really in not only the Dallas area but 526 00:29:32,000 --> 00:29:35,000 Speaker 7: for the world to see. But the Dallas area is 527 00:29:35,040 --> 00:29:39,600 Speaker 7: having the event, and that is the key. We're used 528 00:29:39,600 --> 00:29:44,880 Speaker 7: to appealing to thirty million people. And of course our 529 00:29:44,920 --> 00:29:47,560 Speaker 7: good friends at Fox are going to be so involved 530 00:29:47,560 --> 00:29:52,920 Speaker 7: with us and how to present this race. I know that. 531 00:29:53,120 --> 00:29:56,440 Speaker 7: For instance, when we had the Super Bowl here, we 532 00:29:56,440 --> 00:30:02,120 Speaker 7: were just enjoying our second year and mister Murdoch called 533 00:30:02,640 --> 00:30:04,719 Speaker 7: and he said, we're going to make the stadium the 534 00:30:04,760 --> 00:30:07,880 Speaker 7: star of the show. Well, how do you do that 535 00:30:08,120 --> 00:30:10,560 Speaker 7: when people are looking in to see the ballgame the 536 00:30:10,640 --> 00:30:13,560 Speaker 7: Super Bowl? Well they were able to do that, and 537 00:30:13,600 --> 00:30:16,800 Speaker 7: for instance, my ex coach Jimmy Johnson and I walked 538 00:30:16,840 --> 00:30:20,120 Speaker 7: around the stadium and talked about old times and talk 539 00:30:20,200 --> 00:30:23,480 Speaker 7: about some of the nuances of the stadium. Well, what 540 00:30:23,600 --> 00:30:27,840 Speaker 7: will happen here is will not only have millions of 541 00:30:27,920 --> 00:30:31,920 Speaker 7: people that are looking at this race, but we'll share 542 00:30:31,960 --> 00:30:35,800 Speaker 7: the nuances of what this race is about. And it 543 00:30:35,840 --> 00:30:39,720 Speaker 7: will be certainly those cars going two hundred and something 544 00:30:39,880 --> 00:30:42,320 Speaker 7: miles an hour around all these streets and around all 545 00:30:42,360 --> 00:30:45,520 Speaker 7: these great sporting venues, but it will also be about 546 00:30:45,560 --> 00:30:47,600 Speaker 7: as far as the millions of eyes that are looking 547 00:30:47,640 --> 00:30:51,280 Speaker 7: at this thing, It'll be about It'll be about Roger Penske, 548 00:30:51,480 --> 00:30:55,160 Speaker 7: It'll be about cowboys, it'll be about tradition, it'll be 549 00:30:55,200 --> 00:30:59,040 Speaker 7: about sports. But in the medium, it'll be about racing 550 00:30:59,120 --> 00:31:02,480 Speaker 7: along these streets. And I would hope that we're establishing 551 00:31:02,520 --> 00:31:05,480 Speaker 7: something that will lasts of a long time here. 552 00:31:06,000 --> 00:31:08,800 Speaker 11: When you look at this area here, so much has 553 00:31:08,840 --> 00:31:10,160 Speaker 11: developed around. 554 00:31:09,800 --> 00:31:11,160 Speaker 7: At and T Stadium. 555 00:31:11,680 --> 00:31:15,080 Speaker 11: What is the vision now? I mean you're adding this, 556 00:31:15,200 --> 00:31:17,040 Speaker 11: Is this the end? Or are you planning to do 557 00:31:17,080 --> 00:31:17,920 Speaker 11: more in this area? 558 00:31:18,440 --> 00:31:22,160 Speaker 7: Well, this race, I'll start, Roger, this race is a 559 00:31:22,240 --> 00:31:28,680 Speaker 7: part of the building, if you will, of this area. Personally, 560 00:31:29,560 --> 00:31:33,200 Speaker 7: the way that I look at sports and the interest 561 00:31:33,280 --> 00:31:38,000 Speaker 7: in sport and what sports brings to our society, what 562 00:31:38,040 --> 00:31:43,640 Speaker 7: sports brings to commerce. Roger is such an innovator in 563 00:31:43,680 --> 00:31:46,680 Speaker 7: the world, and he took racing and he made it 564 00:31:46,720 --> 00:31:49,960 Speaker 7: a part of a lot of things. Fox will tell 565 00:31:50,000 --> 00:31:52,080 Speaker 7: you that. I'll tell you that I've taken a lot 566 00:31:52,080 --> 00:31:55,440 Speaker 7: of what I've done off watching what Roger Penske does 567 00:31:55,520 --> 00:31:59,280 Speaker 7: in racing relative to selling the sport or selling sports 568 00:31:59,280 --> 00:32:03,160 Speaker 7: in general. That's what this is about. And there's nothing 569 00:32:03,480 --> 00:32:07,800 Speaker 7: like at sports that moves the needle anywhere, and it 570 00:32:07,840 --> 00:32:14,000 Speaker 7: can go against all kinds of products, services, disciplines. Sports 571 00:32:14,200 --> 00:32:18,600 Speaker 7: is a unique speaks to emotion. 572 00:32:19,400 --> 00:32:22,440 Speaker 5: I think when you look at an anchor tenant, an 573 00:32:22,480 --> 00:32:26,240 Speaker 5: anchor event, and what Jerry's done here to take the 574 00:32:26,280 --> 00:32:28,800 Speaker 5: stadium and build it to just look outside here and 575 00:32:28,880 --> 00:32:31,640 Speaker 5: you can see it, and I think word I use 576 00:32:31,640 --> 00:32:35,880 Speaker 5: every day's utilization. What the City of Arlington's doing is 577 00:32:35,920 --> 00:32:37,720 Speaker 5: taking Jerry and the other teams that are here and 578 00:32:37,840 --> 00:32:41,280 Speaker 5: utilizing you know, their capital. You know there are people 579 00:32:41,280 --> 00:32:43,920 Speaker 5: and their vision to make this much greater. And I 580 00:32:43,960 --> 00:32:45,400 Speaker 5: think we're just going to be a part of that. 581 00:32:45,480 --> 00:32:47,440 Speaker 5: We want to be right part of the woodwork here 582 00:32:47,480 --> 00:32:48,280 Speaker 5: as we go forward. 583 00:32:48,520 --> 00:32:51,080 Speaker 6: And so what are we going to see here, Roger 584 00:32:51,120 --> 00:32:53,760 Speaker 6: in terms of like how many people, what's the sort 585 00:32:53,760 --> 00:32:56,720 Speaker 6: of the economic element to this, because you put on 586 00:32:56,840 --> 00:33:00,120 Speaker 6: races all over the world about seventeen I believe in 587 00:33:00,120 --> 00:33:03,400 Speaker 6: twenty twenty five for the Indyecar series. What does it 588 00:33:03,440 --> 00:33:05,240 Speaker 6: look like number of people that those. 589 00:33:05,040 --> 00:33:05,520 Speaker 7: Are the things? 590 00:33:05,560 --> 00:33:06,880 Speaker 5: Well, I think what we have to do is look 591 00:33:06,880 --> 00:33:09,160 Speaker 5: at other cities where we do business. When we're in 592 00:33:09,200 --> 00:33:11,640 Speaker 5: Saint Pete, we're in Long Beach, we're in Detroit by 593 00:33:11,680 --> 00:33:13,680 Speaker 5: the way, and I think that we typical on a 594 00:33:13,760 --> 00:33:16,160 Speaker 5: weekend like this will have between and one hundred and 595 00:33:16,200 --> 00:33:19,040 Speaker 5: fifty thousand people for the weekend. Yeah, we're gonna have 596 00:33:19,080 --> 00:33:22,760 Speaker 5: twenty seven cars. We'll have great teams here. The competition 597 00:33:22,880 --> 00:33:25,120 Speaker 5: has never been greater, and I think to bring this 598 00:33:25,280 --> 00:33:28,520 Speaker 5: here obviously Fox is our new partner, which is going 599 00:33:28,600 --> 00:33:30,760 Speaker 5: to be terrific. Eric Shanks that we're gonna make this 600 00:33:30,880 --> 00:33:33,880 Speaker 5: series where we want to go. So I see fast cars, 601 00:33:34,160 --> 00:33:36,360 Speaker 5: I see a lot of people, a lot of interest here. 602 00:33:36,680 --> 00:33:39,200 Speaker 5: I think we'll see diversity from this fan base as 603 00:33:39,240 --> 00:33:41,240 Speaker 5: we come here, and to me, we're gonna make a 604 00:33:41,280 --> 00:33:44,840 Speaker 5: big difference seeing something different. But guess what, We're in 605 00:33:44,880 --> 00:33:47,000 Speaker 5: one of the greatest stadiums in the world coming here with. 606 00:33:47,000 --> 00:33:51,240 Speaker 11: Jerry Roger there's all types of different car racing, as 607 00:33:51,280 --> 00:33:55,320 Speaker 11: you know, But what is the next big thing in IndyCar? 608 00:33:56,080 --> 00:33:57,600 Speaker 11: What do you think the next big thing is? 609 00:33:58,040 --> 00:34:00,880 Speaker 5: Well, I think that what we've done this year as 610 00:34:00,920 --> 00:34:03,600 Speaker 5: we've taken hybrid. As you know in the automobile business today, 611 00:34:03,680 --> 00:34:06,720 Speaker 5: hybrid is a bridging strategy and we're now taking that 612 00:34:06,800 --> 00:34:08,920 Speaker 5: into our Indy cars and we'll take that to the 613 00:34:08,960 --> 00:34:11,640 Speaker 5: next level as we get into twenty six and twenty 614 00:34:11,719 --> 00:34:15,200 Speaker 5: seven beyond, and I think we're going to see more dynamics. 615 00:34:15,400 --> 00:34:19,200 Speaker 5: We're going to see the hybrid technology for a power train. Obviously, 616 00:34:19,360 --> 00:34:21,520 Speaker 5: the number one thing we're doing with our new car 617 00:34:21,719 --> 00:34:22,280 Speaker 5: is safety. 618 00:34:24,480 --> 00:34:27,760 Speaker 6: So Roger picking up on that. Racing is having a moment. 619 00:34:28,160 --> 00:34:31,800 Speaker 6: You know, next weekend a lot of people, hundreds of 620 00:34:31,840 --> 00:34:33,480 Speaker 6: thousands people are going to be down the road in 621 00:34:33,560 --> 00:34:38,720 Speaker 6: Austin at the Circuit of the Americas for Formula One. 622 00:34:39,120 --> 00:34:42,719 Speaker 6: How do you punt intended draft off of some of 623 00:34:42,719 --> 00:34:46,319 Speaker 6: what's going on in the broader motorsports world to grow 624 00:34:46,360 --> 00:34:46,960 Speaker 6: your business. 625 00:34:47,040 --> 00:34:49,160 Speaker 5: Well, I think what I've said to our team is 626 00:34:49,160 --> 00:34:51,920 Speaker 5: we got to focus on our business. I do that 627 00:34:52,000 --> 00:34:55,040 Speaker 5: every day Monday through Saturday or Sunday, and I think 628 00:34:55,120 --> 00:34:58,120 Speaker 5: we look at open real racing. We have here in 629 00:34:58,160 --> 00:35:01,680 Speaker 5: the United States the highest technology see the fastest cars, 630 00:35:01,800 --> 00:35:03,080 Speaker 5: and I think we want to continue that. 631 00:35:03,280 --> 00:35:04,200 Speaker 3: And that is the diverse. 632 00:35:04,280 --> 00:35:07,360 Speaker 5: Remember we run on street courses like here in Arlington, 633 00:35:07,600 --> 00:35:10,359 Speaker 5: we run it Indiannapolis where they qualify a two hundred 634 00:35:10,400 --> 00:35:13,040 Speaker 5: and forty four miles an hour. We're running a permanent 635 00:35:13,120 --> 00:35:15,680 Speaker 5: road courses. So ours is diverse and we're going to 636 00:35:15,760 --> 00:35:18,400 Speaker 5: keep that. It really is our total and that's going 637 00:35:18,480 --> 00:35:21,439 Speaker 5: to be our monitor. Is going to be diversity from 638 00:35:21,440 --> 00:35:23,319 Speaker 5: the standpoint of the types of racing that we do 639 00:35:23,360 --> 00:35:24,440 Speaker 5: here in the United States. 640 00:35:24,680 --> 00:35:27,040 Speaker 11: You know, Jerry, You've gotten into a lot of businesses, 641 00:35:27,080 --> 00:35:28,400 Speaker 11: but why did you pick this one? 642 00:35:28,920 --> 00:35:33,640 Speaker 7: Well, first of all, I love sports. Sports is very 643 00:35:33,680 --> 00:35:38,960 Speaker 7: unique in terms of the word business. It's bottom line, 644 00:35:39,000 --> 00:35:41,799 Speaker 7: but it's really not bottom line like you would have 645 00:35:42,000 --> 00:35:47,160 Speaker 7: with the grocer business or the automobile business. There's more 646 00:35:47,239 --> 00:35:52,319 Speaker 7: to it. Sports is about tradition. All you have to 647 00:35:52,360 --> 00:35:54,640 Speaker 7: do is go up here to that Saint Almost Taychase 648 00:35:54,719 --> 00:35:58,400 Speaker 7: and in Annapolis and be around where that where the 649 00:35:58,440 --> 00:36:01,399 Speaker 7: big graces have been over there, the shrimp cocktail for that. 650 00:36:01,880 --> 00:36:08,240 Speaker 7: It's about tradition. It is about entertainment, and therein lies 651 00:36:08,400 --> 00:36:12,440 Speaker 7: the innovativeness of a man like Roger Pinski or if 652 00:36:12,440 --> 00:36:14,759 Speaker 7: you will, what we can do in the NFL to 653 00:36:14,800 --> 00:36:19,279 Speaker 7: make it entertaining. But here's the deal. Real sports is 654 00:36:19,360 --> 00:36:23,160 Speaker 7: about really putting it on the line. It didn't make believe. 655 00:36:23,800 --> 00:36:28,600 Speaker 7: It isn't staging, it didn't produced. Real sports is real competition. 656 00:36:29,160 --> 00:36:31,799 Speaker 7: Now these guys behind the wheels, they're putting it on 657 00:36:31,840 --> 00:36:35,719 Speaker 7: the line. That's not funny. They are competing, and they're 658 00:36:35,719 --> 00:36:40,480 Speaker 7: competing with everything in my sport. In football, those guys 659 00:36:40,520 --> 00:36:43,680 Speaker 7: have to call on themselves to give it up. That's 660 00:36:43,719 --> 00:36:45,879 Speaker 7: not natural to get out there and get in front 661 00:36:45,920 --> 00:36:48,600 Speaker 7: of three hundred. God tells you to get out in 662 00:36:48,600 --> 00:36:51,040 Speaker 7: front of three hundred, not in front of me. So 663 00:36:51,200 --> 00:36:55,200 Speaker 7: when you have sports, it actually calls on people. Then 664 00:36:55,239 --> 00:36:59,640 Speaker 7: it transcends other phases of life because out here in 665 00:36:59,680 --> 00:37:03,800 Speaker 7: real we're having to get called on. And this didn't 666 00:37:03,840 --> 00:37:07,240 Speaker 7: make believe out here in real life. So sports identifies 667 00:37:07,320 --> 00:37:09,799 Speaker 7: with that. Then if you put it on, and you 668 00:37:09,880 --> 00:37:12,959 Speaker 7: put it on in a great, great event like we're 669 00:37:12,960 --> 00:37:16,399 Speaker 7: talking about this racing, but yet with Fox we're getting 670 00:37:16,400 --> 00:37:19,319 Speaker 7: to go out in front of millions of people, the 671 00:37:19,440 --> 00:37:22,439 Speaker 7: combination of those things is why I'm sitting in this chair. 672 00:37:23,239 --> 00:37:26,720 Speaker 3: That's a portion of a special conversation with Dallas Cowboys 673 00:37:26,719 --> 00:37:31,000 Speaker 3: owner Jerry Jones and Penske Automotive CEO Roger Penske. They 674 00:37:31,040 --> 00:37:35,920 Speaker 3: spoke with Bloomberg Originals Chief correspondent Jason Kelly and Bloomberg 675 00:37:35,960 --> 00:37:39,000 Speaker 3: Texas Bureau chief Julie Fine. You can hear the full 676 00:37:39,120 --> 00:37:43,520 Speaker 3: conversation on the Bloomberg Talks podcast. Find that on Apple, 677 00:37:43,600 --> 00:37:48,040 Speaker 3: Spotify and all your favorite podcast platforms and subscribe so 678 00:37:48,200 --> 00:37:51,560 Speaker 3: you never miss a key conversation from Bloomberg. And that 679 00:37:51,680 --> 00:37:54,719 Speaker 3: does it. That's it for this edition of The Bloomberg 680 00:37:54,800 --> 00:37:59,000 Speaker 3: Business of Sports for my colleagues Damian Sassauer and Scarlett Foo. 681 00:37:59,120 --> 00:38:02,200 Speaker 3: I'm Michael Barr. If you missed any part of the show, 682 00:38:02,280 --> 00:38:05,720 Speaker 3: you can find it on demand on the Bloomberg Business 683 00:38:05,760 --> 00:38:10,200 Speaker 3: of Sports podcast, available wherever you get your podcast. Tune 684 00:38:10,239 --> 00:38:12,600 Speaker 3: in again next week for the latest on the stories 685 00:38:12,640 --> 00:38:15,400 Speaker 3: moving big money in the world of sports. You're listening 686 00:38:15,480 --> 00:38:19,360 Speaker 3: to The Bloomberg Business of Sports from Bloomberger Radio around 687 00:38:19,440 --> 00:38:19,960 Speaker 3: the world.