1 00:00:00,720 --> 00:00:03,160 Speaker 1: This is the Bloomberg Business of Sports show, where we 2 00:00:03,200 --> 00:00:05,400 Speaker 1: explore the big money issues in the world of sports. 3 00:00:05,600 --> 00:00:08,960 Speaker 1: Michael Barr, We're going to bring you a special episode 4 00:00:09,000 --> 00:00:12,960 Speaker 1: a conversation from earlier this week. Two time Super Bowl 5 00:00:12,960 --> 00:00:17,400 Speaker 1: winning quarterback Eli Manning is onto a new business venture, 6 00:00:17,600 --> 00:00:21,959 Speaker 1: private equity. He and his new business partner, Steve Leebowitz 7 00:00:22,239 --> 00:00:25,959 Speaker 1: with the Brand Velocity Group, talked about Eli's next move 8 00:00:26,280 --> 00:00:29,800 Speaker 1: on Bloomberg Radio this week with Paul Swiney and Matt Miller. 9 00:00:29,880 --> 00:00:32,600 Speaker 1: Private equity in a sports biz how can that go wrong? 10 00:00:32,920 --> 00:00:35,240 Speaker 1: Former New York Giant quarterback and partner with the investment 11 00:00:35,240 --> 00:00:38,159 Speaker 1: firm Brand Velocity, Eli Manning joined us here on a 12 00:00:38,159 --> 00:00:41,960 Speaker 1: Bloomberg Interactive Broker studio along with Brand Velocity founding and 13 00:00:42,080 --> 00:00:46,519 Speaker 1: managing partner Steve Liebowitz. Um Elie, Steve, thanks so much 14 00:00:46,520 --> 00:00:48,280 Speaker 1: for joining us here in a Bloomberg Inactive broker. So 15 00:00:48,320 --> 00:00:51,840 Speaker 1: we have talked about first I'm a I'm a Wall 16 00:00:51,880 --> 00:00:53,720 Speaker 1: Street guy. For last, I'm a Wall Street girl. These 17 00:00:53,880 --> 00:00:55,200 Speaker 1: go aheads. I want to talk sports, I want to 18 00:00:55,200 --> 00:00:59,080 Speaker 1: talk to Wall Street. So elite private equity. You've now 19 00:00:59,080 --> 00:01:01,320 Speaker 1: step back for football a few years. You and your 20 00:01:01,360 --> 00:01:04,959 Speaker 1: brother are doing all kinds of crazy TV stuffs manning 21 00:01:04,959 --> 00:01:07,759 Speaker 1: cast which is very fun. Um. But just about kind 22 00:01:07,760 --> 00:01:10,319 Speaker 1: of what you were thinking about in the private equity space, Well, 23 00:01:10,360 --> 00:01:13,479 Speaker 1: I'm excited. I'm excited to join with the brand Velocity group. 24 00:01:13,520 --> 00:01:15,280 Speaker 1: We've been with them about a year and just really 25 00:01:15,240 --> 00:01:17,360 Speaker 1: have had a kind of a private equity one on 26 00:01:17,360 --> 00:01:20,560 Speaker 1: one uh and learning about the business and uh. Just 27 00:01:20,800 --> 00:01:23,000 Speaker 1: I've been a part of one acquisition and it was 28 00:01:23,000 --> 00:01:25,280 Speaker 1: in the sports world. It was Score Sports, which is 29 00:01:25,319 --> 00:01:30,920 Speaker 1: a designer, manufacturer, seller of youth sports uniforms, which uh, 30 00:01:30,959 --> 00:01:33,520 Speaker 1: I'm passionate about. I have four kids and they're playing 31 00:01:33,560 --> 00:01:37,400 Speaker 1: every sport. I think that's one I think business and 32 00:01:37,760 --> 00:01:40,679 Speaker 1: area that so many people are familiar with. They love 33 00:01:40,720 --> 00:01:43,360 Speaker 1: they love their kids playing sports. But it's also in 34 00:01:43,520 --> 00:01:46,960 Speaker 1: a in a part of this where it is the 35 00:01:47,280 --> 00:01:49,680 Speaker 1: cost of reasonable you know, you can get your jersey 36 00:01:49,720 --> 00:01:52,559 Speaker 1: and your kid for eighteen to twenty dollars, and so 37 00:01:53,000 --> 00:01:55,720 Speaker 1: for me, it's promoting families to get your kids outside, 38 00:01:55,760 --> 00:01:58,320 Speaker 1: get them playing sports, get them in and different things. 39 00:01:58,320 --> 00:02:00,680 Speaker 1: It's the life lessons that are taught through sports, and 40 00:02:00,760 --> 00:02:03,080 Speaker 1: so you know, the cost of a uniform shouldn't be 41 00:02:03,280 --> 00:02:05,880 Speaker 1: something holding your back from from getting your your your 42 00:02:05,920 --> 00:02:09,040 Speaker 1: kids out there and get them active. Steve talked to 43 00:02:09,120 --> 00:02:13,120 Speaker 1: us about your view, your private equity view of sports. 44 00:02:13,120 --> 00:02:15,000 Speaker 1: I was just mentioned that ELI just seems like like 45 00:02:15,000 --> 00:02:17,520 Speaker 1: I've been following the media industry for thirty years and 46 00:02:17,600 --> 00:02:19,760 Speaker 1: my big media companies, whether it's Disney, your Voteco, they 47 00:02:19,760 --> 00:02:23,000 Speaker 1: spend more and more and more in sports rights every year. 48 00:02:23,280 --> 00:02:25,200 Speaker 1: It seems like a natural spot for problem you're not 49 00:02:25,280 --> 00:02:27,400 Speaker 1: buying the big ten rights, Like, what are you buying? 50 00:02:27,440 --> 00:02:32,280 Speaker 1: How do you screen for companies? Yeah, good questions. Sports. 51 00:02:32,560 --> 00:02:34,680 Speaker 1: It really is the media, as you mentioned that that 52 00:02:34,800 --> 00:02:38,360 Speaker 1: under underpins all the growth with the media rights, and 53 00:02:38,400 --> 00:02:41,720 Speaker 1: there's just the scarcity with all the entertainment options that 54 00:02:41,760 --> 00:02:45,799 Speaker 1: people have out there nowadays, live sports still is the king. 55 00:02:46,080 --> 00:02:48,720 Speaker 1: And as long as live sports as the king, there's 56 00:02:48,720 --> 00:02:51,120 Speaker 1: gonna be insatiable demand for it, and that demand leads 57 00:02:51,120 --> 00:02:52,880 Speaker 1: to the media rights, which in turn leads to the 58 00:02:52,919 --> 00:02:56,399 Speaker 1: growth of the franchises. So we think it's a great industry. 59 00:02:56,440 --> 00:02:58,520 Speaker 1: I mean, it's a broad industry. If you take sports 60 00:02:58,520 --> 00:03:01,880 Speaker 1: sports adjacent you talking, you know, five hundred billion dollar 61 00:03:01,960 --> 00:03:05,560 Speaker 1: plus global industry, and it maybe arguably one of the 62 00:03:05,600 --> 00:03:08,360 Speaker 1: only industries that really is recession proof because people always 63 00:03:08,360 --> 00:03:12,640 Speaker 1: say recession resistant, recession proof sports, Really the data backs 64 00:03:12,639 --> 00:03:14,840 Speaker 1: it up. So what kind of companies are you looking at? 65 00:03:15,080 --> 00:03:17,040 Speaker 1: What are the sizes? How long do you want to 66 00:03:17,040 --> 00:03:20,960 Speaker 1: stay involved? Um, what's your plan? So we're looking at 67 00:03:21,000 --> 00:03:24,639 Speaker 1: companies typically with ten million or greater of IBATA. We're 68 00:03:24,639 --> 00:03:28,440 Speaker 1: looking at all sorts of businesses, consumer sports adjacent businesses, 69 00:03:28,480 --> 00:03:31,560 Speaker 1: as well as you know, potentially minority interest in sports 70 00:03:31,560 --> 00:03:35,600 Speaker 1: teams or you know, controlling interests in sports teams in Europe. 71 00:03:35,880 --> 00:03:37,600 Speaker 1: So those are all sorts of different things. I mean, 72 00:03:37,640 --> 00:03:39,920 Speaker 1: like any other investment, you can't just rely on the 73 00:03:39,960 --> 00:03:42,480 Speaker 1: greater fool theory. You've got to do your homework. You've 74 00:03:42,520 --> 00:03:45,320 Speaker 1: got to look at the valuation. Sports clearly fetches more 75 00:03:45,400 --> 00:03:48,360 Speaker 1: because of the growth, but you've got to be cognizant 76 00:03:48,360 --> 00:03:51,280 Speaker 1: of it. And we will only swing at the pitch 77 00:03:51,320 --> 00:03:53,360 Speaker 1: if we think it's the right pitch. That doesn't guarantee 78 00:03:53,360 --> 00:03:55,280 Speaker 1: will be right. But you have to be super patient 79 00:03:55,320 --> 00:03:57,920 Speaker 1: and super careful. You're lucky not to get into the 80 00:03:57,920 --> 00:04:01,800 Speaker 1: whole crypto thing because some of your rivals have been 81 00:04:01,840 --> 00:04:04,120 Speaker 1: deeply involved with f t X. I don't know if 82 00:04:04,120 --> 00:04:06,520 Speaker 1: you noticed that. Yes, I've heard I've heard some stories 83 00:04:06,800 --> 00:04:10,280 Speaker 1: other than bone coin, which you are shielding with Al Roker, Right, 84 00:04:10,360 --> 00:04:13,120 Speaker 1: wasn't that it was like Frank's red hoots. If you 85 00:04:13,160 --> 00:04:17,279 Speaker 1: eat the most buffalo wings, you can get it. Um, 86 00:04:17,320 --> 00:04:19,680 Speaker 1: But how did you avoid that? I mean so many 87 00:04:20,160 --> 00:04:22,839 Speaker 1: uh people were sucked in. I guess it was big money. 88 00:04:22,880 --> 00:04:25,840 Speaker 1: It's an exciting story as well. Um, were you just 89 00:04:26,000 --> 00:04:28,240 Speaker 1: too busy with other stuff? Yeah? And I think just 90 00:04:28,400 --> 00:04:31,560 Speaker 1: the idea that I just didn't quite understand it, like, 91 00:04:31,680 --> 00:04:34,240 Speaker 1: you know, there's something comes, you know, to that. And 92 00:04:34,240 --> 00:04:36,760 Speaker 1: I didn't quite understand private equity a year ago also, 93 00:04:36,839 --> 00:04:39,320 Speaker 1: but it made sense like you buy a company that's 94 00:04:39,680 --> 00:04:42,599 Speaker 1: has doing well, they're making revenue, they're making money, there's 95 00:04:42,680 --> 00:04:44,800 Speaker 1: real growth, there's a profit there, and we can come 96 00:04:44,800 --> 00:04:47,480 Speaker 1: in and and make it better with crypto. Uh. You 97 00:04:47,600 --> 00:04:50,080 Speaker 1: kind of heard these stories and people making bazillions of 98 00:04:50,120 --> 00:04:52,440 Speaker 1: dollars and great, you know, but I just kind ofn't know, 99 00:04:52,560 --> 00:04:56,040 Speaker 1: like where is going house is gonna workout? So I 100 00:04:56,200 --> 00:04:58,520 Speaker 1: had a great team of people just saying, you know, 101 00:04:58,600 --> 00:05:00,440 Speaker 1: let's just learn more, let's learn more, and we just 102 00:05:00,520 --> 00:05:02,839 Speaker 1: kind of kept trying to learn more, but never never 103 00:05:02,880 --> 00:05:05,320 Speaker 1: pulled the trigger on it. So no crypto, but yes 104 00:05:05,360 --> 00:05:07,760 Speaker 1: to private equity. And the cool thing is, you know, 105 00:05:08,200 --> 00:05:13,000 Speaker 1: um a skeptic or a cynics view of private equity is, 106 00:05:13,200 --> 00:05:15,520 Speaker 1: you know, these locusts that come in and eat up 107 00:05:15,520 --> 00:05:18,920 Speaker 1: the company, borrowing tons of debt with the brand and 108 00:05:18,960 --> 00:05:22,280 Speaker 1: then destroying the value of what the employees have built. 109 00:05:22,400 --> 00:05:24,320 Speaker 1: You guys are doing it in a very different way. 110 00:05:24,360 --> 00:05:27,920 Speaker 1: You were sharing the gains. I think that's like your mantra, right, 111 00:05:28,000 --> 00:05:30,640 Speaker 1: and you're letting the employees in on the deal. Yeah, 112 00:05:30,720 --> 00:05:33,159 Speaker 1: and that's the idea, and that's why I got involved 113 00:05:33,200 --> 00:05:36,560 Speaker 1: and Steve started this BBG and got involved just could 114 00:05:36,640 --> 00:05:39,839 Speaker 1: change the culture of private equity. And he truly cares. 115 00:05:40,400 --> 00:05:42,559 Speaker 1: And we care about the people. I mean, the people 116 00:05:42,560 --> 00:05:45,040 Speaker 1: are the most important thing with these companies that we're 117 00:05:45,080 --> 00:05:47,919 Speaker 1: looking at and the culture of these businesses. And we 118 00:05:48,000 --> 00:05:50,320 Speaker 1: have a program called Share the Gains where we're giving 119 00:05:50,320 --> 00:05:54,040 Speaker 1: ten percent of our carried interests back to the employees 120 00:05:54,080 --> 00:05:56,200 Speaker 1: that are not part of the upper management. They're getting 121 00:05:56,240 --> 00:05:58,920 Speaker 1: taken care of in different ways, but we want the 122 00:05:59,279 --> 00:06:01,440 Speaker 1: people who are any of these companies to be a 123 00:06:01,480 --> 00:06:03,599 Speaker 1: part of the success. You know, when we sell it 124 00:06:03,640 --> 00:06:05,800 Speaker 1: and we make a profit. We want them to kind 125 00:06:05,800 --> 00:06:07,479 Speaker 1: of be a part of that. Note that they can 126 00:06:07,640 --> 00:06:09,960 Speaker 1: you know, if we do well, and they're gonna do 127 00:06:10,000 --> 00:06:11,599 Speaker 1: well also and they're gonna be a part of this 128 00:06:11,680 --> 00:06:14,120 Speaker 1: and it really creates a team environment. Steve, what do 129 00:06:14,160 --> 00:06:16,200 Speaker 1: you think, you know, partnering up with with a guy 130 00:06:16,640 --> 00:06:19,839 Speaker 1: has accomplished as Eli is in many walks of life. 131 00:06:19,839 --> 00:06:22,240 Speaker 1: What does that bring to your firm too, and kind 132 00:06:22,240 --> 00:06:24,800 Speaker 1: of how do you look to kind of leverage that well. 133 00:06:24,800 --> 00:06:27,880 Speaker 1: The first thing I'll say is that Eli is an 134 00:06:27,880 --> 00:06:31,240 Speaker 1: incredibly humble person and he is the same person in 135 00:06:31,279 --> 00:06:35,479 Speaker 1: private that he is in public, which that's critical because 136 00:06:35,520 --> 00:06:39,240 Speaker 1: for us, like culture is everything, and um, Eli's just 137 00:06:39,320 --> 00:06:44,000 Speaker 1: perfect fit with our culture. Like Eli his passion for 138 00:06:44,000 --> 00:06:47,440 Speaker 1: for for for the culture of the companies, for for 139 00:06:48,000 --> 00:06:51,480 Speaker 1: you know, everybody loves Eli. Um so when Eli believes 140 00:06:51,480 --> 00:06:58,080 Speaker 1: in suffer, Yeah, Tom Brady's parents probably as well. A 141 00:06:58,080 --> 00:07:01,800 Speaker 1: few Super Bowls taken away there between Eli and Peyton, 142 00:07:02,160 --> 00:07:07,440 Speaker 1: But but we love um you know, his connectivity, I mean, 143 00:07:07,480 --> 00:07:09,360 Speaker 1: and everybody loves him and when he says it, he's 144 00:07:09,360 --> 00:07:12,280 Speaker 1: saying what the truth and what he believes, So it 145 00:07:12,400 --> 00:07:14,280 Speaker 1: just really fits well with what we want to do 146 00:07:14,360 --> 00:07:17,160 Speaker 1: and getting our message out with share the gains. You know, 147 00:07:17,200 --> 00:07:21,720 Speaker 1: we do that as very important. We think private equity often, um, 148 00:07:21,760 --> 00:07:25,720 Speaker 1: you know, companies aren't made of spreadsheets, They're made of people, 149 00:07:25,840 --> 00:07:28,400 Speaker 1: and private equity often loses sight of that. And Eli 150 00:07:28,520 --> 00:07:31,000 Speaker 1: is as a big believer in the message. He really 151 00:07:31,040 --> 00:07:33,240 Speaker 1: can get that message out and our hope is to 152 00:07:33,240 --> 00:07:35,760 Speaker 1: really make an impact through that message. Up next on 153 00:07:35,800 --> 00:07:38,800 Speaker 1: the show more Eli Manning. What more could you ask for? That? 154 00:07:38,880 --> 00:07:42,040 Speaker 1: Straight ahead on the Bloomberg Business of Sports and Bloomberg Radio. 155 00:07:49,200 --> 00:07:51,320 Speaker 1: This is the Bloomberg Business of Sports show that we 156 00:07:51,360 --> 00:07:53,400 Speaker 1: explore the big money issues in the world of sports. 157 00:07:53,640 --> 00:07:57,280 Speaker 1: Michael Barr, we're listening in on the conversation our colleagues 158 00:07:57,360 --> 00:08:00,400 Speaker 1: Matt Miller and Paula Sween. He had with two time 159 00:08:00,480 --> 00:08:04,440 Speaker 1: Super Bowl champ Eli Manning. He's a partner at Brand 160 00:08:04,480 --> 00:08:07,160 Speaker 1: Velocity Group and was joined by a b v G 161 00:08:07,520 --> 00:08:12,680 Speaker 1: founding and managing partners Steve Leebowitz. Let's listen in. Everybody 162 00:08:12,720 --> 00:08:15,320 Speaker 1: loves to watch it. Um, it's a new format and 163 00:08:15,360 --> 00:08:17,720 Speaker 1: it's something that I thought this was gonna something like 164 00:08:17,760 --> 00:08:20,200 Speaker 1: this was gonna happen ten years ago, and nobody ever 165 00:08:20,240 --> 00:08:22,360 Speaker 1: really did it right until you guys have done it. 166 00:08:22,400 --> 00:08:24,000 Speaker 1: What's your what's been your experience? How do you get 167 00:08:24,000 --> 00:08:25,760 Speaker 1: into it? Yeah, I mean I think you know, we 168 00:08:25,760 --> 00:08:28,040 Speaker 1: got into it just the idea. We we saw, you know, 169 00:08:28,120 --> 00:08:31,120 Speaker 1: Kurt herb Street broadcasting game because he had COVID and 170 00:08:31,200 --> 00:08:32,760 Speaker 1: so he couldn't be at the game, so he didn't 171 00:08:32,760 --> 00:08:35,840 Speaker 1: He's often at the Ohio State University have exactly, so 172 00:08:35,880 --> 00:08:37,840 Speaker 1: he just did it from home and kind of talking 173 00:08:37,840 --> 00:08:39,840 Speaker 1: with Peyton and said, well, we could I want a 174 00:08:39,880 --> 00:08:43,080 Speaker 1: broadcast game from home? That sounds pretty good, like sitting 175 00:08:43,120 --> 00:08:46,600 Speaker 1: on my couchs watching football making fun of my brother, 176 00:08:46,679 --> 00:08:48,800 Speaker 1: Like that sounds like a good job. And you're like 177 00:08:48,880 --> 00:08:50,400 Speaker 1: pay me for it, Like yeah, I mean I know 178 00:08:50,440 --> 00:08:52,120 Speaker 1: I went to Old Miss, but I know a good 179 00:08:52,120 --> 00:08:54,280 Speaker 1: deal what I see one. And so that was the 180 00:08:54,320 --> 00:08:57,240 Speaker 1: idea and really, you know, just saying, hey, what would 181 00:08:57,280 --> 00:08:59,280 Speaker 1: it be like if Peyton and I were in your 182 00:08:59,320 --> 00:09:01,800 Speaker 1: living room watching the game? How would we watch it? 183 00:09:02,040 --> 00:09:03,760 Speaker 1: You know, we're not going to talk about the first 184 00:09:03,800 --> 00:09:06,240 Speaker 1: and tent run for two yards and tell you where 185 00:09:06,240 --> 00:09:08,480 Speaker 1: the running back went to college, Like we don't know 186 00:09:08,520 --> 00:09:10,160 Speaker 1: that answer. We don't know where you went to college? 187 00:09:10,160 --> 00:09:13,080 Speaker 1: And you probably don't care either. So let's bring in 188 00:09:13,160 --> 00:09:16,000 Speaker 1: some guests, have it fun. We'll talk some XS and knows. 189 00:09:16,080 --> 00:09:19,040 Speaker 1: Tell you what's going through the quarterbacks mind right now? 190 00:09:19,120 --> 00:09:22,080 Speaker 1: What you know, how should they handle this situation? Have 191 00:09:22,160 --> 00:09:25,280 Speaker 1: Peyton calls sixty seven time outs? You know when Denver 192 00:09:25,400 --> 00:09:27,320 Speaker 1: needs to call it time out? And so you know, 193 00:09:27,679 --> 00:09:30,800 Speaker 1: it's really just kind of uh having fun in a 194 00:09:30,800 --> 00:09:32,720 Speaker 1: different way to watch the game. And you guys get 195 00:09:32,720 --> 00:09:36,439 Speaker 1: a great list of guests. The commitment, I mean, it's 196 00:09:36,480 --> 00:09:39,040 Speaker 1: super eclectic. How does that all come about? Well, I 197 00:09:39,080 --> 00:09:41,560 Speaker 1: think you just you realize there's so many people that 198 00:09:41,720 --> 00:09:44,360 Speaker 1: have a passion for sports and have a passion for 199 00:09:44,440 --> 00:09:47,600 Speaker 1: football and they grew up with a certain team, and 200 00:09:47,640 --> 00:09:49,680 Speaker 1: we used so we try to bring in people that 201 00:09:49,720 --> 00:09:52,480 Speaker 1: are associated with one of the two teams playing that night, 202 00:09:52,520 --> 00:09:55,920 Speaker 1: and whether it's Barack Obama or Snoop Dogg and them 203 00:09:55,960 --> 00:09:59,920 Speaker 1: talking about the eighties Chicago Bear eighty five Chicago Bear, 204 00:10:00,000 --> 00:10:02,720 Speaker 1: those are the Steelers of the seventies with Snoop Dogg 205 00:10:02,760 --> 00:10:04,880 Speaker 1: and he's listening players and he grew up watching So 206 00:10:05,040 --> 00:10:07,840 Speaker 1: you know, Conda Lisa Rice talking about the Browns. I mean, 207 00:10:07,880 --> 00:10:09,800 Speaker 1: you have so many people that have a passion for 208 00:10:09,840 --> 00:10:13,000 Speaker 1: their hometown football team and for them to kind of 209 00:10:13,000 --> 00:10:15,280 Speaker 1: talk about that and get it out, it's natural for them. 210 00:10:15,280 --> 00:10:17,520 Speaker 1: And we have fun and we we don't ask any 211 00:10:17,559 --> 00:10:20,280 Speaker 1: hardball questions like you guys are asking today. We try 212 00:10:20,320 --> 00:10:23,480 Speaker 1: to keep it pretty simple. So you guys, you guys, 213 00:10:23,679 --> 00:10:27,000 Speaker 1: you've been so busy since leaving the the NFL. You 214 00:10:27,040 --> 00:10:29,120 Speaker 1: have a job like a day job with the Giants, 215 00:10:29,120 --> 00:10:32,360 Speaker 1: and you're doing the manning cast and the private equity places. 216 00:10:33,080 --> 00:10:35,040 Speaker 1: I mean, yeah, I mean exactly, So how do how's 217 00:10:35,040 --> 00:10:36,840 Speaker 1: the elis places gonna play out? Are you gonna keep 218 00:10:36,840 --> 00:10:39,040 Speaker 1: doing those? We got to decide. I gotta talk with 219 00:10:39,080 --> 00:10:41,559 Speaker 1: Big Bro and and I'm up. I'm up for a contract, 220 00:10:42,400 --> 00:10:44,520 Speaker 1: so I'll have to, you know, have some some tough 221 00:10:44,520 --> 00:10:47,360 Speaker 1: discussions with him. But you, I mean, you really have 222 00:10:47,920 --> 00:10:51,600 Speaker 1: in Peyton as well, UM developed a knack for broadcasting 223 00:10:51,800 --> 00:10:54,960 Speaker 1: and you know a way that a lot of athletes can't. Um. 224 00:10:55,160 --> 00:10:59,200 Speaker 1: Are you gonna be appearing in Hollywood movies playing for 225 00:10:59,800 --> 00:11:02,560 Speaker 1: what's your agents? And I don't consider myself a broadcaster, 226 00:11:02,679 --> 00:11:04,880 Speaker 1: by the way, just I don't I think they have 227 00:11:05,000 --> 00:11:06,640 Speaker 1: a I don't think I would have been good at 228 00:11:06,640 --> 00:11:09,360 Speaker 1: broadcasting in the typical way of being in studio and 229 00:11:09,400 --> 00:11:12,240 Speaker 1: booth and and doing those things. I think the fact 230 00:11:12,280 --> 00:11:14,320 Speaker 1: that I could sit on my couch, you know, just 231 00:11:14,400 --> 00:11:18,120 Speaker 1: talk football, keep it very casual. Uh fits more, um, 232 00:11:18,200 --> 00:11:21,920 Speaker 1: you know style for me. And so I'm enjoying what 233 00:11:21,960 --> 00:11:25,000 Speaker 1: I'm doing. I enjoy the football part, staying involved in 234 00:11:25,040 --> 00:11:28,640 Speaker 1: the game I enjoy, but also learning learning about private 235 00:11:28,640 --> 00:11:31,560 Speaker 1: equity and you know, each each day and each deal 236 00:11:31,679 --> 00:11:33,840 Speaker 1: we look at and company we look at, I'm learning 237 00:11:33,880 --> 00:11:37,640 Speaker 1: something new and and just understand how businesses work. And 238 00:11:37,760 --> 00:11:40,560 Speaker 1: you know, just the time frame of how you decide 239 00:11:40,559 --> 00:11:42,319 Speaker 1: whether you want to buy a company, like looking at 240 00:11:42,320 --> 00:11:45,520 Speaker 1: the profit loss, looking at statements, looking you know, do 241 00:11:45,520 --> 00:11:48,439 Speaker 1: do do diligence? You know, given a pitch. All these 242 00:11:48,480 --> 00:11:50,240 Speaker 1: things were new to me, exciting for me, and I'm 243 00:11:50,320 --> 00:11:53,880 Speaker 1: enjoying the process. Hey, Steve, you're know slout yourself. I mean, 244 00:11:54,120 --> 00:11:57,800 Speaker 1: you know, went to some trade school up in Cambridge, Massachusetts. 245 00:11:57,880 --> 00:12:01,440 Speaker 1: I think, uh New York stay high school chess champion. 246 00:12:01,679 --> 00:12:04,240 Speaker 1: What between Barbara and old miss really yeah, at the 247 00:12:04,320 --> 00:12:05,600 Speaker 1: end of the day, I mean you got a taking, 248 00:12:05,640 --> 00:12:07,280 Speaker 1: then you gotta take math. What's what's what's the big 249 00:12:07,559 --> 00:12:10,680 Speaker 1: called Harvard, the old Miss of the North. Exactly. Well, 250 00:12:10,679 --> 00:12:15,000 Speaker 1: we interview every Thursday coach Murphy from Harvard because we 251 00:12:15,080 --> 00:12:17,600 Speaker 1: carried the Harvard football games up in Boston on our 252 00:12:17,679 --> 00:12:21,280 Speaker 1: radio station. Your Bills fan. Tough two weeks, dude, but 253 00:12:21,280 --> 00:12:22,920 Speaker 1: we got a great you got a great quarterback doing 254 00:12:22,960 --> 00:12:24,719 Speaker 1: about it. But this is the story I want to get. 255 00:12:25,040 --> 00:12:28,840 Speaker 1: You're a family farmer supplying this year's Rockefeller Christmas tree. Yeah, 256 00:12:28,880 --> 00:12:31,960 Speaker 1: that's just that's just nuts. Yeah. Basically, so my family did, 257 00:12:32,080 --> 00:12:34,800 Speaker 1: like your great grandfather planted or something. I mean, I 258 00:12:34,840 --> 00:12:37,240 Speaker 1: actually it was like ninety years old. I don't even 259 00:12:37,280 --> 00:12:41,240 Speaker 1: know who planted it. But our family owned, my father's 260 00:12:41,280 --> 00:12:45,160 Speaker 1: generation owns the property. And the head gardener at Rockefeller 261 00:12:45,280 --> 00:12:48,520 Speaker 1: Center was actually and they get hundreds of submissions for 262 00:12:48,520 --> 00:12:50,640 Speaker 1: the tree. And so he was going to drive to 263 00:12:50,679 --> 00:12:53,800 Speaker 1: see another tree in Glenn's Falls and he was driving 264 00:12:53,800 --> 00:12:56,360 Speaker 1: down the street, happened to drive by a bacon lot 265 00:12:56,440 --> 00:12:59,320 Speaker 1: which had the tree on which we own, and he's like, 266 00:12:59,760 --> 00:13:02,840 Speaker 1: that is the tree. The tree was like discovered like 267 00:13:02,880 --> 00:13:06,040 Speaker 1: a Nies starlet or something. Right, So it's just like 268 00:13:06,080 --> 00:13:09,120 Speaker 1: a wild experience. You know, you gotta be the tree 269 00:13:09,200 --> 00:13:15,880 Speaker 1: letting family Treess. He like, give me thirty seconds on 270 00:13:15,920 --> 00:13:19,000 Speaker 1: the Giants seven and two. Yeah, I mean these guys 271 00:13:19,000 --> 00:13:20,800 Speaker 1: are good. I think we've got a quarterback too. By 272 00:13:20,840 --> 00:13:23,439 Speaker 1: the way, he went to Duke so M, he's with me, 273 00:13:23,840 --> 00:13:26,080 Speaker 1: what do you think? Yeah, Daniel Jones is playing great. 274 00:13:26,120 --> 00:13:29,240 Speaker 1: Se kwas running, you know, running hard. Defense is playing well. 275 00:13:29,320 --> 00:13:32,360 Speaker 1: So in the most important thing, they're finding ways to 276 00:13:32,480 --> 00:13:35,840 Speaker 1: win close games. And they're finding ways to close games out. 277 00:13:35,880 --> 00:13:37,280 Speaker 1: And that's something we haven't been able to do for 278 00:13:37,320 --> 00:13:39,480 Speaker 1: a while. And and what that does it also this 279 00:13:39,559 --> 00:13:41,480 Speaker 1: prepares you for late in the year. You're gonna have 280 00:13:41,520 --> 00:13:43,800 Speaker 1: these close games. Can you win them? They're they're they're 281 00:13:43,920 --> 00:13:46,520 Speaker 1: kind of tried and tested, and I think it's gonna 282 00:13:46,520 --> 00:13:48,200 Speaker 1: be a good run. If you ever get tired of 283 00:13:48,240 --> 00:13:51,400 Speaker 1: having Barack Obama or Condoleeza Rice over. You know, Paul 284 00:13:51,400 --> 00:13:58,880 Speaker 1: and I are are exactly the door. Good stuff. Eli Manning, 285 00:13:58,880 --> 00:14:00,760 Speaker 1: he plays football. I don't know what he does. He's 286 00:14:00,800 --> 00:14:04,960 Speaker 1: doing a ton of stuff. He's doing private equity, doing broadcast. Yes, 287 00:14:05,040 --> 00:14:06,680 Speaker 1: I mean no sitting on the couch for this guy. 288 00:14:06,760 --> 00:14:10,720 Speaker 1: Steve Leebowitz, he's managing partner founder of the firm, is 289 00:14:10,800 --> 00:14:12,880 Speaker 1: known as brand Velocity and they joined us here in 290 00:14:12,880 --> 00:14:15,760 Speaker 1: the Bloomberg and actor Phoebe students. They're doing some good, 291 00:14:15,840 --> 00:14:19,680 Speaker 1: good stuff. We appreciate them stopping. That was New York 292 00:14:19,760 --> 00:14:25,080 Speaker 1: Giants legend Elmenning and his partner at Brand Velocity Group, 293 00:14:25,240 --> 00:14:30,360 Speaker 1: Steven Leewwitz. Special thanks to our colleagues Matt Miller and 294 00:14:30,520 --> 00:14:34,080 Speaker 1: Paul Sweeney. You can hear them on Bloomberg Markets every weekday, 295 00:14:34,120 --> 00:14:38,080 Speaker 1: on Bloomberg Radio, and on their podcast, the tape This 296 00:14:38,360 --> 00:14:41,320 Speaker 1: is the Bloomberg Business of Sports podcast on Michael Barr. 297 00:14:41,440 --> 00:14:44,800 Speaker 1: Catch us here each and every Monday, Wednesday and Thursday, 298 00:14:45,000 --> 00:14:47,200 Speaker 1: exploring the world of money and sports, and catch me 299 00:14:47,280 --> 00:14:50,720 Speaker 1: on Twitter at Big Bar Sports. You're listening to Bloomberg 300 00:14:50,800 --> 00:14:53,800 Speaker 1: Business of Sports on Bloomberg Radio around the world.