1 00:00:02,400 --> 00:00:07,720 Speaker 1: Bloomberg Audio Studios, Podcasts, radio News. 2 00:00:07,840 --> 00:00:09,800 Speaker 2: This is the business of sports. 3 00:00:09,840 --> 00:00:12,720 Speaker 3: The business of sports can be intimidating or hard for 4 00:00:12,720 --> 00:00:13,720 Speaker 3: a starting to break into. 5 00:00:13,840 --> 00:00:16,720 Speaker 4: We really appreciate what our owners are actually there, you 6 00:00:16,760 --> 00:00:18,360 Speaker 4: know with us through the journey. 7 00:00:18,040 --> 00:00:21,560 Speaker 1: Teams ours especially have been very intentional to diversify at 8 00:00:21,600 --> 00:00:22,560 Speaker 1: all levels of the company. 9 00:00:22,640 --> 00:00:25,040 Speaker 5: I think we're in bolden years for the NFL and 10 00:00:25,200 --> 00:00:25,880 Speaker 5: college football. 11 00:00:25,920 --> 00:00:28,960 Speaker 4: Our demographic reach has continued to explode. 12 00:00:29,080 --> 00:00:32,720 Speaker 1: This is going to be really unlocking the streaming platform 13 00:00:32,800 --> 00:00:34,040 Speaker 1: for sports fans. 14 00:00:33,840 --> 00:00:36,760 Speaker 6: Sports evaluations arising. We'll see when they peak. You don't 15 00:00:36,800 --> 00:00:39,279 Speaker 6: have to be the best in your sports and make 16 00:00:39,360 --> 00:00:41,920 Speaker 6: a whole ton of money. 17 00:00:42,040 --> 00:00:45,160 Speaker 2: Bloomberg Business of Sports from Bloomberg Radio. 18 00:00:46,840 --> 00:00:49,440 Speaker 6: This is the Bloomberg Business of Sports where we explore 19 00:00:49,440 --> 00:00:51,320 Speaker 6: the big money issues in the world of sports. I'm 20 00:00:51,320 --> 00:00:54,480 Speaker 6: Michael Barr, along with Scarlett fu and Damian sas Hour. 21 00:00:54,840 --> 00:00:58,680 Speaker 6: Coming up today, NFL legend Bill Belichick is now the 22 00:00:58,760 --> 00:01:02,080 Speaker 6: big man on campus at UNC. We've got the new 23 00:01:02,120 --> 00:01:05,800 Speaker 6: general manager of the University of North Carolina's football program, 24 00:01:05,920 --> 00:01:09,560 Speaker 6: Michael Lombardi joins us to talk about what's next for 25 00:01:09,720 --> 00:01:10,880 Speaker 6: UNC With Belichick. 26 00:01:11,000 --> 00:01:13,319 Speaker 3: The imagery that people have a Bill at the press 27 00:01:13,319 --> 00:01:16,000 Speaker 3: conference is not who Bill is behind the doors in 28 00:01:16,120 --> 00:01:20,759 Speaker 3: terms of how he you know, how he interacts with players, 29 00:01:20,800 --> 00:01:24,000 Speaker 3: how he communicates to players, how players tend to gravitate 30 00:01:24,000 --> 00:01:26,560 Speaker 3: to him. He's very direct, very honest, and I think 31 00:01:26,600 --> 00:01:28,800 Speaker 3: to me, that's what sells a program. 32 00:01:28,880 --> 00:01:32,120 Speaker 6: We'll also talk about some golf with Live Golf's tournament 33 00:01:32,360 --> 00:01:35,480 Speaker 6: heading to Miami and one of President elect Donald Trump's 34 00:01:35,480 --> 00:01:38,760 Speaker 6: golf resorts. All that is on the way on the 35 00:01:38,800 --> 00:01:41,880 Speaker 6: Bloomberg business of sports. But first the New York Knicks. 36 00:01:42,000 --> 00:01:44,720 Speaker 6: They're having another great season led by All star Jalen 37 00:01:44,760 --> 00:01:48,200 Speaker 6: Brunson and new arrival Carl Anthony Towns. 38 00:01:48,480 --> 00:01:52,240 Speaker 3: Town's a three pointer, Carl Anthony Towns. 39 00:01:52,280 --> 00:01:58,360 Speaker 6: That's forty. But many Knicks diehards can't watch their hometown team, 40 00:01:58,840 --> 00:02:02,960 Speaker 6: or the New York Rangers or Islanders. Altis USA, which 41 00:02:03,040 --> 00:02:06,760 Speaker 6: runs Optimum cable, one of the top cable providers in 42 00:02:07,000 --> 00:02:10,440 Speaker 6: New York State and the Tri State area, dropped MSG 43 00:02:10,639 --> 00:02:13,639 Speaker 6: Networks from its lineup on New Year's Day. It's part 44 00:02:13,639 --> 00:02:16,920 Speaker 6: of an escalating dispute between MSG and Altis, and the 45 00:02:17,000 --> 00:02:20,960 Speaker 6: latest example of content providers and distributors playing hardball with 46 00:02:21,000 --> 00:02:24,280 Speaker 6: each other. For more on what's going on between MSG 47 00:02:24,400 --> 00:02:29,720 Speaker 6: and alteas, we welcome Bloomberg Telecom and Entertainment reporter Kelsey Griffiths. 48 00:02:29,800 --> 00:02:30,639 Speaker 5: Thanks for having me. 49 00:02:31,080 --> 00:02:36,000 Speaker 6: Well, it's kind of a sticky situation. The Knicks Rangers game. 50 00:02:37,160 --> 00:02:41,720 Speaker 6: You can't get them for Altese cable subscribers. Why. 51 00:02:42,880 --> 00:02:47,200 Speaker 7: Yeah, so this is kind of an interesting you impasse 52 00:02:47,320 --> 00:02:50,919 Speaker 7: that these two companies have come up against. You have 53 00:02:51,080 --> 00:02:55,280 Speaker 7: Alties that is obviously one of the biggest cable providers 54 00:02:55,320 --> 00:03:02,520 Speaker 7: in the New York area having this agreement with MSG 55 00:03:02,919 --> 00:03:06,600 Speaker 7: Networks or Sphere Entertainment. I guess, as they're now called 56 00:03:07,560 --> 00:03:10,480 Speaker 7: falling through. These companies just came to an impasse and 57 00:03:10,520 --> 00:03:13,920 Speaker 7: they could not agree to the terms through which Altis 58 00:03:14,080 --> 00:03:16,560 Speaker 7: would carry the programming. 59 00:03:17,840 --> 00:03:19,720 Speaker 1: And part of why they can't come to an agreement 60 00:03:19,840 --> 00:03:23,480 Speaker 1: is because it's expensive to pay for these sports rights 61 00:03:23,520 --> 00:03:26,680 Speaker 1: and MSG Networks wants to charge a lot of it 62 00:03:26,720 --> 00:03:30,640 Speaker 1: because they carry a lot of different teams. What is 63 00:03:30,680 --> 00:03:37,440 Speaker 1: the thinking behind altises trying to leverage its negotiating stance 64 00:03:37,600 --> 00:03:38,840 Speaker 1: with MSG Networks. 65 00:03:39,280 --> 00:03:43,080 Speaker 7: Yeah, so all the sus saying basically that MSG is 66 00:03:43,200 --> 00:03:45,760 Speaker 7: charging them too much. They were saying that it would 67 00:03:45,760 --> 00:03:51,040 Speaker 7: cost up to ten dollars per subscriber more for them 68 00:03:51,120 --> 00:03:54,200 Speaker 7: to keep offering this content. 69 00:03:53,960 --> 00:03:55,680 Speaker 5: To their subscribers. 70 00:03:55,720 --> 00:04:00,440 Speaker 7: So they were saying, actually that their data reports the 71 00:04:00,480 --> 00:04:03,320 Speaker 7: fact that not a lot of their customers or at 72 00:04:03,440 --> 00:04:06,080 Speaker 7: least not the majority of their customers or even tuning 73 00:04:06,120 --> 00:04:09,880 Speaker 7: into sports. So they want to just drop the extra 74 00:04:09,960 --> 00:04:13,400 Speaker 7: cost across the board and then let the subscribers that 75 00:04:13,560 --> 00:04:16,080 Speaker 7: are sports fans and do want to tune in pay 76 00:04:16,120 --> 00:04:17,960 Speaker 7: for that content over the top. 77 00:04:18,640 --> 00:04:20,480 Speaker 4: So is there any resolution inside? I mean, how are 78 00:04:20,480 --> 00:04:21,960 Speaker 4: we going to get the ranges in the next or 79 00:04:21,960 --> 00:04:23,600 Speaker 4: whoever it is back on the air? I mean, is 80 00:04:24,279 --> 00:04:26,080 Speaker 4: there some resolution being discussed? 81 00:04:27,480 --> 00:04:33,599 Speaker 7: Yeah, So in terms of all Teeth and MSG, I 82 00:04:33,600 --> 00:04:37,800 Speaker 7: think they're pretty much at a standstill, and analysts know 83 00:04:38,120 --> 00:04:43,560 Speaker 7: last week said that resolution is unlikely soon if ever. 84 00:04:44,080 --> 00:04:47,680 Speaker 7: So in the meantime, there are some options that fans have. 85 00:04:47,880 --> 00:04:52,520 Speaker 7: You could subscribe to a different network that are a 86 00:04:52,520 --> 00:04:56,640 Speaker 7: different cable provider that does carry these channels, and I 87 00:04:56,680 --> 00:05:00,520 Speaker 7: believe the other two major providers in the New York 88 00:05:00,560 --> 00:05:03,520 Speaker 7: area do carry the channels, so you have that going 89 00:05:03,560 --> 00:05:07,479 Speaker 7: for you. Or you could subscribe to this over the 90 00:05:07,560 --> 00:05:13,400 Speaker 7: top service that's actually partly owned by MSG. And that's 91 00:05:13,400 --> 00:05:18,960 Speaker 7: something that actually Altis is pushing. They're saying, if you 92 00:05:19,600 --> 00:05:22,760 Speaker 7: don't you know, if you do want to continue subscribing 93 00:05:23,200 --> 00:05:25,160 Speaker 7: and you want to get this content, you should just 94 00:05:25,200 --> 00:05:26,000 Speaker 7: bite over the top. 95 00:05:27,080 --> 00:05:30,599 Speaker 6: That's a gamble then for All Teas, because if the 96 00:05:30,839 --> 00:05:34,440 Speaker 6: subscriber can get it somewhere else, And I think what 97 00:05:34,480 --> 00:05:38,800 Speaker 6: All Teas has almost two million TV subscribers. Are they 98 00:05:38,839 --> 00:05:41,800 Speaker 6: taking a gamble that they're going to lose customers? 99 00:05:42,000 --> 00:05:44,360 Speaker 7: Yeah, I think that's an open question, but it really 100 00:05:44,480 --> 00:05:49,920 Speaker 7: highlights this tension that the traditional PTV providers are feeling. 101 00:05:50,279 --> 00:05:51,440 Speaker 5: A lot of sports. 102 00:05:51,080 --> 00:05:55,400 Speaker 7: Streaming is going to UH or rather a lot of sports. 103 00:05:55,120 --> 00:05:56,360 Speaker 5: Programming is going to streaming. 104 00:05:56,400 --> 00:05:58,960 Speaker 7: It's going to these over the top options so that 105 00:05:59,000 --> 00:06:02,000 Speaker 7: people can sort of follow or fandoms and subscribe to 106 00:06:02,040 --> 00:06:06,880 Speaker 7: these more skinny bundles and get the content that they want. 107 00:06:07,240 --> 00:06:10,800 Speaker 7: I think what these more traditional cable companies are kind 108 00:06:10,839 --> 00:06:14,000 Speaker 7: of responding to is that people feel like cable is 109 00:06:14,040 --> 00:06:17,279 Speaker 7: too expensive to begin with, and so they want to 110 00:06:17,520 --> 00:06:21,520 Speaker 7: kind of jettison these additional costs that come from carrying sports. 111 00:06:21,600 --> 00:06:25,200 Speaker 7: Maybe not everyone subscribes to or is watching, so I 112 00:06:25,240 --> 00:06:26,839 Speaker 7: don't know, it's kind of a delicate dance there. 113 00:06:27,320 --> 00:06:30,279 Speaker 1: Yeah. Alteas, by the way, operates under the Optimum brand, 114 00:06:30,760 --> 00:06:33,320 Speaker 1: and I guess this all comes down to Altas trying 115 00:06:33,360 --> 00:06:36,119 Speaker 1: to slow the cord cutting, which has you know, really 116 00:06:36,160 --> 00:06:39,440 Speaker 1: picked up pace in the last decade. But still there's 117 00:06:39,440 --> 00:06:42,400 Speaker 1: still plenty of people who do subscribe to these cable 118 00:06:42,440 --> 00:06:47,040 Speaker 1: packages and pay quite a bit of money monthly. Kelsey, 119 00:06:47,080 --> 00:06:49,800 Speaker 1: I want to ask you about a analyst note recently 120 00:06:49,960 --> 00:06:55,000 Speaker 1: about MSG Networks and what happens to this business if 121 00:06:55,040 --> 00:06:58,560 Speaker 1: this resolution, if this dispute with Altis is not resolved, 122 00:06:58,600 --> 00:07:01,520 Speaker 1: because Rich Greenfield, where a light Shed Partners, has talked 123 00:07:01,520 --> 00:07:04,159 Speaker 1: about a possible bankruptcy over at MSG Networks, And of 124 00:07:04,160 --> 00:07:07,200 Speaker 1: course this is based on one analyst perspective. This is 125 00:07:07,200 --> 00:07:11,160 Speaker 1: not what is necessarily going to happen. What is he alleging. 126 00:07:12,040 --> 00:07:16,680 Speaker 7: Yeah, so he's basically alleging that this the MSG is 127 00:07:17,880 --> 00:07:20,400 Speaker 7: you know, not going to be in good financial standing 128 00:07:20,520 --> 00:07:26,040 Speaker 7: if they are unable to resolve this impact with all piece. 129 00:07:26,200 --> 00:07:28,800 Speaker 7: So you know, I wasn't able to do a lot 130 00:07:28,840 --> 00:07:31,600 Speaker 7: of independent reporting on that point, but I do think 131 00:07:31,640 --> 00:07:34,880 Speaker 7: again that that just points back to the precarious situation 132 00:07:35,560 --> 00:07:39,560 Speaker 7: that regional sports networks for finding themselves in if they, 133 00:07:40,760 --> 00:07:45,240 Speaker 7: you know, continue losing subscribers through traditional channels. 134 00:07:45,440 --> 00:07:47,120 Speaker 4: Well, Kelsey, let me jump right in there. I mean 135 00:07:47,120 --> 00:07:50,600 Speaker 4: Scarlett JP Morgan analyst David Kronowski also shares those views. 136 00:07:50,640 --> 00:07:52,880 Speaker 4: He thinks that you know that MSG is at risk, 137 00:07:52,880 --> 00:07:54,600 Speaker 4: at the bondra at risk. And here we're talking about 138 00:07:54,640 --> 00:07:57,760 Speaker 4: let's be clear, Kelsey, we're talking about ALTI ticker symbol 139 00:07:57,800 --> 00:08:01,520 Speaker 4: ATUS on the New York Stock Exchange, Madison Square a 140 00:08:01,560 --> 00:08:04,640 Speaker 4: Garden Sports Corp MSGS, and then there's Sphere Entertainment. 141 00:08:04,720 --> 00:08:04,880 Speaker 7: Right. 142 00:08:04,920 --> 00:08:07,160 Speaker 4: All of those are listed entities, and they all have 143 00:08:07,440 --> 00:08:09,760 Speaker 4: a lot of dead outstanding. So I mean there's a 144 00:08:09,760 --> 00:08:11,640 Speaker 4: lot of investors that are involved here. Talk to us 145 00:08:11,640 --> 00:08:14,520 Speaker 4: a little bit about what you're hearing. I mean our investors, 146 00:08:14,560 --> 00:08:16,520 Speaker 4: I mean upset by this, Which investor? I mean some 147 00:08:16,560 --> 00:08:19,160 Speaker 4: investors might actually be happy by this, right, So talk 148 00:08:19,160 --> 00:08:20,800 Speaker 4: to us a little bit about the capital structure of 149 00:08:20,800 --> 00:08:22,200 Speaker 4: these companies and how it all comes together. 150 00:08:22,600 --> 00:08:25,960 Speaker 7: You know, I've been covering the telecom industry, including some 151 00:08:26,040 --> 00:08:30,200 Speaker 7: of these carriage disputes, for almost a decade, and this 152 00:08:30,440 --> 00:08:33,560 Speaker 7: is a sort of tale as old as time, you know, 153 00:08:33,760 --> 00:08:37,439 Speaker 7: And I think this these types of disputes are only 154 00:08:37,440 --> 00:08:39,760 Speaker 7: going to be picking up, and it's only going to 155 00:08:41,040 --> 00:08:44,320 Speaker 7: you know, continue raising a lot of question marks for 156 00:08:44,840 --> 00:08:46,439 Speaker 7: publicly traded companies like these. 157 00:08:47,880 --> 00:08:50,000 Speaker 1: Just one mention here we talked about the Knicks and 158 00:08:50,000 --> 00:08:53,600 Speaker 1: the Rangers, MSG and MSG Sportsnet also broadcast at New 159 00:08:53,640 --> 00:08:56,240 Speaker 1: York Islanders Devil and then New Jersey Devils, as well 160 00:08:56,240 --> 00:08:58,480 Speaker 1: as some New York Giants and Buffalo Bills games. Now 161 00:08:58,480 --> 00:09:00,440 Speaker 1: we know the Rangers and the Islanders are doing terribly, 162 00:09:00,480 --> 00:09:02,880 Speaker 1: so I don't know how many viewers are tuning in 163 00:09:03,000 --> 00:09:05,320 Speaker 1: or upset that they can't get those games. But the 164 00:09:05,360 --> 00:09:09,280 Speaker 1: Devils have been doing well. Not so much for the Giants, right, Damien, Well, 165 00:09:09,320 --> 00:09:09,920 Speaker 1: look and. 166 00:09:09,840 --> 00:09:11,559 Speaker 4: Look, And just to just kind of re up on 167 00:09:11,600 --> 00:09:13,959 Speaker 4: that last question, you know, I'm not a credit analyst either, Kelsey, 168 00:09:14,000 --> 00:09:15,200 Speaker 4: so I hate to put you on the spot there, 169 00:09:15,200 --> 00:09:17,199 Speaker 4: but you know our friends at JP Morgan David is 170 00:09:17,240 --> 00:09:19,600 Speaker 4: and so he is saying here that the loss of 171 00:09:19,640 --> 00:09:22,600 Speaker 4: Optimum the carriage could actually be a net positive for 172 00:09:22,600 --> 00:09:26,400 Speaker 4: Sphere Entertainment, potentially pushing Mstry Networks toward a full default 173 00:09:26,400 --> 00:09:28,840 Speaker 4: scenario and clearing over seve hundred million and non recourse 174 00:09:28,880 --> 00:09:31,240 Speaker 4: debt from the company's balance sheets, so that would actually 175 00:09:31,280 --> 00:09:36,000 Speaker 4: boost its evaluation. So it's really just sophisticated capital structure 176 00:09:36,120 --> 00:09:38,640 Speaker 4: arbitrage stuff going on here for the real heavyweights in 177 00:09:38,679 --> 00:09:41,080 Speaker 4: Wall Street to kind of sort through and I guess 178 00:09:41,080 --> 00:09:42,000 Speaker 4: profit from. 179 00:09:42,080 --> 00:09:44,560 Speaker 1: Not much consolation though, if you can't get these games 180 00:09:44,640 --> 00:09:46,960 Speaker 1: and you want to and being told to go to 181 00:09:47,200 --> 00:09:50,320 Speaker 1: the Gotham Sports Center, right, is that or subscribe to 182 00:09:50,320 --> 00:09:52,240 Speaker 1: Foubo TV or is that the option? 183 00:09:52,360 --> 00:09:54,160 Speaker 4: Kelsey? I mean, what are your options if you're you know, 184 00:09:54,240 --> 00:09:56,920 Speaker 4: if you're you know, if you just if you just 185 00:09:57,000 --> 00:09:59,040 Speaker 4: lost access to these games, you have to download the app? 186 00:09:59,080 --> 00:09:59,800 Speaker 4: Is that the only way? 187 00:10:00,080 --> 00:10:02,160 Speaker 7: Yeah, so you can download the app, or you might 188 00:10:02,200 --> 00:10:05,040 Speaker 7: consider switching cable providers. I spoke with one person who, 189 00:10:05,760 --> 00:10:09,400 Speaker 7: as soon as we found out that this was, you know, 190 00:10:09,400 --> 00:10:13,119 Speaker 7: they were losing access to MSG, he puts to Exfinity, 191 00:10:13,320 --> 00:10:18,000 Speaker 7: and I believe Exfinity already you know, has a deal 192 00:10:18,000 --> 00:10:20,800 Speaker 7: with MSG to carry it. So yeah, I think that 193 00:10:21,040 --> 00:10:24,160 Speaker 7: there are some other local options if you do want 194 00:10:24,200 --> 00:10:25,000 Speaker 7: to see this on the air. 195 00:10:25,559 --> 00:10:27,320 Speaker 1: Michael Barr, I feel like this goes back to the 196 00:10:27,360 --> 00:10:29,120 Speaker 1: heart of the problem, which is if you're a sports 197 00:10:29,120 --> 00:10:32,360 Speaker 1: fan and you want to watch games live, it's impossible 198 00:10:32,360 --> 00:10:34,600 Speaker 1: to figure out how you can watch them. Well, yeah, 199 00:10:35,559 --> 00:10:37,520 Speaker 1: you have to google it constantly, and you know, then 200 00:10:37,559 --> 00:10:39,040 Speaker 1: you have to ask yourself, Wait a minute, is this 201 00:10:39,080 --> 00:10:40,199 Speaker 1: blacked out? Is this not blacked out? 202 00:10:40,240 --> 00:10:43,240 Speaker 6: Forget even Google and Kelsey. I'm sorry, old man bar 203 00:10:43,360 --> 00:10:45,520 Speaker 6: is about to talk here, because it's like when I 204 00:10:45,559 --> 00:10:48,640 Speaker 6: wanted to watch something live, I got the rabbit Ears ready, 205 00:10:48,840 --> 00:10:51,440 Speaker 6: I got everything all said, I still had a beer 206 00:10:51,520 --> 00:10:53,559 Speaker 6: on the couch, but I mean I still had the 207 00:10:53,679 --> 00:10:59,080 Speaker 6: rabbit Ears. But streaming, forget cable, that's old school too, 208 00:10:59,280 --> 00:11:04,760 Speaker 6: just cable streaming has in general changed everything, and I 209 00:11:04,800 --> 00:11:05,880 Speaker 6: don't know if we can get. 210 00:11:05,760 --> 00:11:10,680 Speaker 7: It back exactly. I think this, this, this latest impasse 211 00:11:10,840 --> 00:11:14,160 Speaker 7: again just really speaks to the fragmentation of the sports 212 00:11:14,200 --> 00:11:19,720 Speaker 7: landscape and how people companies and content companies are sort 213 00:11:19,720 --> 00:11:22,200 Speaker 7: of grappling with these changes and having to change their 214 00:11:22,240 --> 00:11:24,040 Speaker 7: business models and the way they do business with each 215 00:11:24,040 --> 00:11:24,840 Speaker 7: other in response. 216 00:11:25,240 --> 00:11:29,920 Speaker 6: Can there be a way where maybe all sides get 217 00:11:29,960 --> 00:11:33,680 Speaker 6: together and they say kumbaya and it can be done 218 00:11:33,920 --> 00:11:36,120 Speaker 6: before the end of the season. 219 00:11:36,960 --> 00:11:38,320 Speaker 5: I wish I had an answer to that. 220 00:11:38,600 --> 00:11:41,960 Speaker 7: But if you guys hear something, if you hear that 221 00:11:42,000 --> 00:11:42,760 Speaker 7: there's a resolution. 222 00:11:42,880 --> 00:11:44,480 Speaker 5: You let me know, because I'd be interested to know 223 00:11:44,480 --> 00:11:44,800 Speaker 5: that too. 224 00:11:45,040 --> 00:11:47,160 Speaker 6: Well, I will, I will go, And because I want 225 00:11:47,200 --> 00:11:49,360 Speaker 6: to see the games. I mean, yes, I get it, 226 00:11:49,480 --> 00:11:53,640 Speaker 6: you know the different Yeah, they're Rangers are They're good, 227 00:11:55,400 --> 00:11:57,240 Speaker 6: But I still want to see the games. I mean, 228 00:11:57,679 --> 00:11:59,839 Speaker 6: you know, if you're a fan of the team, I mean, 229 00:12:00,280 --> 00:12:03,679 Speaker 6: take Scarlett. She's wearing a Ranger's jacket right now, so 230 00:12:03,840 --> 00:12:04,400 Speaker 6: you still win. 231 00:12:04,520 --> 00:12:06,560 Speaker 1: I may thought of every day when I walk through 232 00:12:06,559 --> 00:12:08,680 Speaker 1: the office, given how bad the team is playing right now. 233 00:12:10,160 --> 00:12:12,840 Speaker 6: Kelsey Griffiths, and you wrote this, by the way, with 234 00:12:12,960 --> 00:12:16,960 Speaker 6: Hannah Miller, also great at Bloomberg, and we want to 235 00:12:16,960 --> 00:12:20,040 Speaker 6: give credit to both of you. Okay, here's the question. Yeah, 236 00:12:20,400 --> 00:12:24,280 Speaker 6: here it is, who's going to win the Super Bowl 237 00:12:24,360 --> 00:12:24,800 Speaker 6: this year? 238 00:12:27,679 --> 00:12:29,320 Speaker 5: Who's going to win the Super Bowl this year? For me? 239 00:12:29,679 --> 00:12:32,560 Speaker 7: Yes, well, I was a Taylor Swift fan. I have 240 00:12:32,640 --> 00:12:34,240 Speaker 7: to say I would love to see the Kansas City 241 00:12:34,280 --> 00:12:36,040 Speaker 7: Chiefs go again because I would like to see a 242 00:12:36,040 --> 00:12:38,320 Speaker 7: certain blonde pop star in the stands again. 243 00:12:38,320 --> 00:12:39,520 Speaker 5: I think that's pretty entertaining. 244 00:12:39,920 --> 00:12:42,080 Speaker 6: Oh it's a Detroit fan. Look at the time. We're 245 00:12:42,120 --> 00:12:48,440 Speaker 6: all done. Kelsey, Thank you so much for joining us 246 00:12:48,440 --> 00:12:50,640 Speaker 6: at the Bloomberg Business of Sports. We appreciate it. 247 00:12:50,800 --> 00:12:50,920 Speaker 5: Up. 248 00:12:50,960 --> 00:12:54,320 Speaker 6: Next, we turn to golf and Trump owned golf venue 249 00:12:54,400 --> 00:12:57,600 Speaker 6: that's slated to host a live golf tournament for my 250 00:12:57,720 --> 00:13:01,880 Speaker 6: colleague Scarlett Foo and Damian Sasa. Michael Barr, You're listening 251 00:13:01,920 --> 00:13:05,720 Speaker 6: to the Bloomberg Business of Sports from Bloomberg Radio around 252 00:13:05,800 --> 00:13:06,320 Speaker 6: the world. 253 00:13:09,559 --> 00:13:13,560 Speaker 2: This is Bloomberg Business of Sports from Bloomberg Radio. 254 00:13:14,720 --> 00:13:17,120 Speaker 6: This is the Bloomberg Business of Sports where we explore 255 00:13:17,120 --> 00:13:19,240 Speaker 6: the big money issues in the world of sports. Michael 256 00:13:19,280 --> 00:13:23,079 Speaker 6: Barr along with my colleagues Scarlett Fou and Damian Sassaur. 257 00:13:23,480 --> 00:13:26,600 Speaker 6: While President elect Donald Trump is heading back to DC, 258 00:13:26,760 --> 00:13:29,520 Speaker 6: some high profile golf is slated to head back to 259 00:13:29,640 --> 00:13:32,720 Speaker 6: one of his resorts in Florida. Live golf will head 260 00:13:32,760 --> 00:13:35,800 Speaker 6: to the Trump National Durral Golf Club near Miami for 261 00:13:35,880 --> 00:13:38,840 Speaker 6: the fourth time, but only the first time while Trump 262 00:13:39,160 --> 00:13:42,559 Speaker 6: is a sitting US president. For more on Trump's long 263 00:13:42,600 --> 00:13:46,480 Speaker 6: association with golf and live we welcome Bloomberg News Wealth 264 00:13:46,559 --> 00:13:50,840 Speaker 6: reporter Annie Massa. Annie, welcome to the Bloomberg Business of Sports. 265 00:13:51,080 --> 00:13:51,840 Speaker 8: Thanks for having me. 266 00:13:52,240 --> 00:13:56,120 Speaker 6: Well, let's start with the article that you wrote President 267 00:13:56,120 --> 00:13:59,840 Speaker 6: elect Donald Trump's draw resort. That's the one in Florida 268 00:14:00,040 --> 00:14:04,120 Speaker 6: will host the Saudi Back Live Golf in April, and 269 00:14:04,280 --> 00:14:06,640 Speaker 6: this is the fourth time it has happened any but 270 00:14:06,720 --> 00:14:09,720 Speaker 6: I think the first time that it will happen when 271 00:14:09,800 --> 00:14:10,560 Speaker 6: he's president. 272 00:14:11,080 --> 00:14:14,880 Speaker 8: That's right, So it's continuing. There's a very friendly relationship 273 00:14:15,040 --> 00:14:19,880 Speaker 8: between Trump and Live and the fact that Live will 274 00:14:19,920 --> 00:14:24,440 Speaker 8: host once again at Trump's Miami golf resort is kind 275 00:14:24,440 --> 00:14:28,160 Speaker 8: of a subject of controversy, and this has been long simmering, 276 00:14:28,360 --> 00:14:30,320 Speaker 8: but as you mentioned, it will be the first time 277 00:14:30,320 --> 00:14:33,600 Speaker 8: that this happens with Trump as the sitting president, and 278 00:14:34,000 --> 00:14:36,760 Speaker 8: you know, the crux of the controversy is that this 279 00:14:36,840 --> 00:14:41,560 Speaker 8: is a Saudi backed, you know, golf group, and you know, 280 00:14:41,840 --> 00:14:45,480 Speaker 8: having the sitting president poised to reap the financial benefits 281 00:14:45,760 --> 00:14:50,160 Speaker 8: of hosting the tournament there is kind of kind of 282 00:14:50,240 --> 00:14:51,680 Speaker 8: draws some skeptics for sure. 283 00:14:52,080 --> 00:14:54,440 Speaker 1: Can you talk a little bit about what the Trump 284 00:14:54,600 --> 00:14:58,240 Speaker 1: Organization's structure looks like, because a lot of business people 285 00:14:58,240 --> 00:15:01,720 Speaker 1: who become elected of officials and government tend to put 286 00:15:01,760 --> 00:15:05,200 Speaker 1: their assets in a trust and then don't have any 287 00:15:05,360 --> 00:15:09,000 Speaker 1: actual practical or hands on oversight over the business during 288 00:15:09,040 --> 00:15:11,040 Speaker 1: the time that they're in office. Is that what we're 289 00:15:11,040 --> 00:15:12,600 Speaker 1: seeing with President elect Trump. 290 00:15:13,240 --> 00:15:16,560 Speaker 8: President elect Trump is very unusual in that, yes, his 291 00:15:16,920 --> 00:15:21,040 Speaker 8: assets have been put in a trust, but he refused 292 00:15:21,080 --> 00:15:24,440 Speaker 8: to divest completely of the Trump Organization. So now the 293 00:15:24,440 --> 00:15:28,480 Speaker 8: Trump Organization is run by his sons Eric and Don Junior, 294 00:15:29,120 --> 00:15:32,640 Speaker 8: and so he and and we can see from his 295 00:15:32,800 --> 00:15:39,000 Speaker 8: disclosures that he's absolutely getting income from all of these 296 00:15:39,080 --> 00:15:43,280 Speaker 8: all of these Trump Organization properties and operations all around 297 00:15:43,280 --> 00:15:45,840 Speaker 8: the world, and golf has golf courses. Yeah, golf has 298 00:15:45,880 --> 00:15:51,400 Speaker 8: become an ever greater and ever more important piece of that. 299 00:15:51,640 --> 00:15:55,120 Speaker 8: So he had more than five hundred million dollars worth 300 00:15:55,120 --> 00:15:58,240 Speaker 8: of income from his golf and resort properties in the 301 00:15:58,360 --> 00:16:00,600 Speaker 8: in the most recent financial disclosure that we saw. So 302 00:16:00,720 --> 00:16:04,960 Speaker 8: this is no small amount of money that Trump is 303 00:16:05,000 --> 00:16:10,080 Speaker 8: earning from golf and resorts. And so that all I 304 00:16:10,120 --> 00:16:12,520 Speaker 8: mean goes to show you how important it is to 305 00:16:12,600 --> 00:16:16,400 Speaker 8: him to his personal fortune. And hosting big events like 306 00:16:16,440 --> 00:16:18,680 Speaker 8: the live one that will happen in April the week 307 00:16:18,720 --> 00:16:22,080 Speaker 8: before the Masters are absolutely contribute to that. 308 00:16:22,440 --> 00:16:24,320 Speaker 4: Annie, I may be here talking to you on the 309 00:16:24,320 --> 00:16:26,680 Speaker 4: Bloomberg Business of Sports, but my day job is running 310 00:16:26,680 --> 00:16:29,360 Speaker 4: emerging market fixed income from Bloomberg Intelligence. And you know, 311 00:16:29,800 --> 00:16:32,560 Speaker 4: you know, the friends of Trump trade is in full 312 00:16:32,600 --> 00:16:36,520 Speaker 4: effect right now, from Argentina to Israel to Hungary. And 313 00:16:36,560 --> 00:16:40,240 Speaker 4: you know, just on Tuesday, we heard that who's seen Sajwani, 314 00:16:40,280 --> 00:16:42,640 Speaker 4: the billionaire head of DEMAC Group, I believe is how 315 00:16:42,640 --> 00:16:45,440 Speaker 4: you pronounce it, announced that he's going to invest more 316 00:16:45,520 --> 00:16:47,640 Speaker 4: than twenty billion dollars to build new data centers in 317 00:16:47,680 --> 00:16:49,360 Speaker 4: the US. Now, this is the same chap, if I'm 318 00:16:49,400 --> 00:16:53,480 Speaker 4: not mistaken, who has previously partnered with Trump to build 319 00:16:53,600 --> 00:16:57,200 Speaker 4: what else, luxury golf courses in Dubai. So the friends 320 00:16:57,200 --> 00:17:00,000 Speaker 4: of Trump, I'm just curious, you know, like who benefit 321 00:17:00,080 --> 00:17:03,320 Speaker 4: fits here, you know, from live golf being held at 322 00:17:03,360 --> 00:17:05,760 Speaker 4: a Trump resort in the US. I mean, what's the 323 00:17:05,800 --> 00:17:07,520 Speaker 4: game plan here? What do you think the angle is 324 00:17:07,520 --> 00:17:08,520 Speaker 4: from Trump's perspective? 325 00:17:09,040 --> 00:17:12,479 Speaker 8: You're so right. And one thing that was striking about 326 00:17:12,520 --> 00:17:16,919 Speaker 8: that that announcement about the data centers that would be 327 00:17:17,000 --> 00:17:20,760 Speaker 8: financed here in the US by this billionaire head of 328 00:17:20,960 --> 00:17:24,959 Speaker 8: DEMAC Group. This is yet another uh that that announcement 329 00:17:25,080 --> 00:17:28,000 Speaker 8: was made the same day that this live golf schedule 330 00:17:28,040 --> 00:17:32,520 Speaker 8: came out. So those were two prominent examples of how 331 00:17:32,640 --> 00:17:36,600 Speaker 8: Trump's business ties in the Middle East have only gotten 332 00:17:37,760 --> 00:17:42,879 Speaker 8: you know, more prominent since he left office, and you know, 333 00:17:42,920 --> 00:17:45,120 Speaker 8: you saw that in just one day with two major 334 00:17:45,160 --> 00:17:50,320 Speaker 8: announcements that affect Trump and his business business partnerships around 335 00:17:50,320 --> 00:17:51,320 Speaker 8: the Middle East. 336 00:17:51,600 --> 00:17:55,520 Speaker 6: I want to focus more on why this is controversial. 337 00:17:56,160 --> 00:18:00,840 Speaker 6: Human rights advocates have criticized this because they're saying is 338 00:18:00,920 --> 00:18:05,600 Speaker 6: operating under the auspices of the Saudi regime, and US 339 00:18:05,640 --> 00:18:10,720 Speaker 6: intelligence has linked the twenty eighteen murder of Washington Post 340 00:18:10,840 --> 00:18:15,760 Speaker 6: journalist Jamal Kashogi, and that has just raised the ire 341 00:18:15,880 --> 00:18:18,159 Speaker 6: of a lot of people. Can you expand more on that? 342 00:18:18,760 --> 00:18:22,840 Speaker 8: Of course, the stepping back the reason that it's controversial 343 00:18:22,960 --> 00:18:25,919 Speaker 8: that a Trump property would host live golf, or the 344 00:18:25,960 --> 00:18:29,240 Speaker 8: reason that it's controversial that Trump has this relationship to 345 00:18:29,280 --> 00:18:34,880 Speaker 8: Live is because the Saudi Sovereign Wealth Fund is financing Live, 346 00:18:35,240 --> 00:18:39,000 Speaker 8: and so you're linking back this, You're linking back the 347 00:18:39,080 --> 00:18:42,520 Speaker 8: money that Live has to throw around to throw these 348 00:18:42,600 --> 00:18:45,919 Speaker 8: kinds of events at Trump property to a regime that 349 00:18:46,000 --> 00:18:49,800 Speaker 8: has you know, a very bracing human rights record. And 350 00:18:50,800 --> 00:18:54,639 Speaker 8: you know, moreover, as as president, Trump is going to 351 00:18:54,680 --> 00:19:00,960 Speaker 8: be the man in charge of like relationships with all 352 00:19:01,000 --> 00:19:04,520 Speaker 8: sorts of h with the Middle East. So it's going 353 00:19:04,560 --> 00:19:09,920 Speaker 8: to be a big focus going forward, and already has 354 00:19:09,960 --> 00:19:12,760 Speaker 8: been that he does so much business with Middle East 355 00:19:12,840 --> 00:19:15,399 Speaker 8: business partners, and that the Trump Organization is. 356 00:19:17,119 --> 00:19:20,119 Speaker 1: Hosting an event like this. The election of Donald Trump 357 00:19:20,359 --> 00:19:23,280 Speaker 1: has a lot of people excited about the civil war 358 00:19:23,359 --> 00:19:27,200 Speaker 1: in golf kind of healing, because live golf versus PGA 359 00:19:27,440 --> 00:19:29,679 Speaker 1: is kind of a death match until they announced that 360 00:19:29,720 --> 00:19:31,640 Speaker 1: they were going to merge, or parts of them were 361 00:19:31,640 --> 00:19:33,919 Speaker 1: going to merge, and then that kind of has just 362 00:19:33,960 --> 00:19:37,080 Speaker 1: played itself out and it hasn't happened yet. Damien, I 363 00:19:37,119 --> 00:19:40,719 Speaker 1: know that you are a golf fan. You certainly play golf, 364 00:19:40,760 --> 00:19:44,560 Speaker 1: and you watch some golf. Do you watch PGA versus 365 00:19:44,640 --> 00:19:47,600 Speaker 1: live golf? Like, do you have loyalties to one entity 366 00:19:47,640 --> 00:19:48,159 Speaker 1: over another? 367 00:19:49,040 --> 00:19:52,240 Speaker 4: Well, Scarlett, I must confess I do not watch any 368 00:19:52,320 --> 00:19:54,320 Speaker 4: live events. I just found them to be far too 369 00:19:54,359 --> 00:19:54,919 Speaker 4: hokey for me. 370 00:19:54,960 --> 00:19:56,280 Speaker 1: But why why we are they hokey? 371 00:19:58,720 --> 00:20:00,960 Speaker 4: The pace of play, the match play, I just you know, 372 00:20:01,040 --> 00:20:03,119 Speaker 4: I never really I just couldn't get into it. And 373 00:20:03,359 --> 00:20:06,639 Speaker 4: you know, like a traditional you know, four day, you know, 374 00:20:07,359 --> 00:20:10,480 Speaker 4: make the cut, you know, Saturday Sunday PGA format. I'm sorry, 375 00:20:10,520 --> 00:20:12,560 Speaker 4: I'm just a traditionalist. In that way. But I will 376 00:20:12,600 --> 00:20:15,000 Speaker 4: say this. I don't know if anyone caught this, but 377 00:20:15,200 --> 00:20:19,439 Speaker 4: just this week, this new format, this you know, I 378 00:20:19,440 --> 00:20:21,520 Speaker 4: guess it's more like a video game, you know, where 379 00:20:21,520 --> 00:20:23,600 Speaker 4: you hit into this huge you know, you're in a stadium. 380 00:20:23,640 --> 00:20:26,919 Speaker 4: And even though everybody yeah, yep, yep, and it was 381 00:20:27,080 --> 00:20:31,040 Speaker 4: supposedly a smashing success, despite the fact that you know, 382 00:20:31,200 --> 00:20:33,520 Speaker 4: it was pretty lopside in terms of the outcome. I 383 00:20:33,520 --> 00:20:35,560 Speaker 4: think it was in a nine to two victory for 384 00:20:35,560 --> 00:20:37,359 Speaker 4: for I don't know if it was the Bay Area 385 00:20:37,480 --> 00:20:39,280 Speaker 4: or the LA I mean, there's a bunch of these little, 386 00:20:39,760 --> 00:20:41,280 Speaker 4: you know, golf clubs that you know, I mean, even 387 00:20:41,320 --> 00:20:43,239 Speaker 4: Stevie Cohen owns the New York one right now, right, 388 00:20:43,320 --> 00:20:47,160 Speaker 4: so so I've heard that that format is actually quite interesting. 389 00:20:47,200 --> 00:20:50,680 Speaker 4: I must confess I didn't watch it, but Scarlett, I mean, 390 00:20:50,800 --> 00:20:53,840 Speaker 4: these new golf formats are real, and they threatened to change, 391 00:20:53,920 --> 00:20:56,720 Speaker 4: you know, the way in which we all enjoyed the sport. 392 00:20:57,400 --> 00:20:59,720 Speaker 6: See Anny, this is why I love allto racing. 393 00:21:02,119 --> 00:21:03,119 Speaker 5: There's no disrupting it. 394 00:21:03,119 --> 00:21:07,400 Speaker 6: There is no disrupting that. But it's a thing that 395 00:21:07,640 --> 00:21:10,520 Speaker 6: you know, back to President like Trump, I mean, he 396 00:21:10,600 --> 00:21:15,080 Speaker 6: has hosted other events, sporting events as well, back when 397 00:21:15,080 --> 00:21:18,399 Speaker 6: he had the old taj Mahal back in Atlantic City 398 00:21:18,480 --> 00:21:20,800 Speaker 6: because he hosted some WWE events. 399 00:21:21,119 --> 00:21:24,480 Speaker 8: Yeah, and one thing I should mention on PGA versus Live, 400 00:21:24,520 --> 00:21:28,040 Speaker 8: by the way, is that Trump's relationship to the PGA 401 00:21:28,160 --> 00:21:32,640 Speaker 8: has been a bit fraud in the past. Obviously, as 402 00:21:32,680 --> 00:21:36,160 Speaker 8: you were mentioning a bit of a more venerable golf tournament, 403 00:21:36,320 --> 00:21:41,120 Speaker 8: and so Trump basically there was a plan to have 404 00:21:41,240 --> 00:21:45,359 Speaker 8: a PGA tournament at a Trump property in twenty twenty 405 00:21:45,359 --> 00:21:49,920 Speaker 8: two that was pulled after the January sixth Riots. So 406 00:21:50,880 --> 00:21:55,240 Speaker 8: he's clashed with the PGA, and that may also play 407 00:21:55,240 --> 00:22:00,359 Speaker 8: into his love of the live tournament. So yeah, he 408 00:22:00,960 --> 00:22:03,880 Speaker 8: has this long standing history there. 409 00:22:04,520 --> 00:22:06,760 Speaker 1: But you know, his profile would suggest he's a traditionalist 410 00:22:06,800 --> 00:22:08,960 Speaker 1: when it comes to playing golf. I mean, I don't 411 00:22:09,000 --> 00:22:11,119 Speaker 1: know anything about golf, but I'm guessing that men of 412 00:22:11,119 --> 00:22:14,919 Speaker 1: a certain age play the traditional PGA style of golf 413 00:22:15,520 --> 00:22:18,639 Speaker 1: rather than you know, the live golf that I guess 414 00:22:18,640 --> 00:22:21,760 Speaker 1: moves much faster, right, Damian, Yeah, No. 415 00:22:21,840 --> 00:22:23,720 Speaker 4: That's exactly right. I mean, look now to your point, 416 00:22:23,920 --> 00:22:26,359 Speaker 4: just going to this new Golf League, this TGL and 417 00:22:26,400 --> 00:22:28,440 Speaker 4: all these different formats that are popping up left front 418 00:22:28,440 --> 00:22:30,360 Speaker 4: the center Scarlett. You know, at the end of the day, 419 00:22:30,359 --> 00:22:33,400 Speaker 4: it just speaks to the you know, just the rise 420 00:22:33,440 --> 00:22:35,960 Speaker 4: of golf in general, and how a sport that was 421 00:22:36,000 --> 00:22:39,000 Speaker 4: once not accessible by you know, every household you know, 422 00:22:39,040 --> 00:22:41,120 Speaker 4: forget about the US, but across the planet has become 423 00:22:41,160 --> 00:22:43,600 Speaker 4: increasingly more so. And I think I think that's the 424 00:22:43,640 --> 00:22:46,520 Speaker 4: real kind of takeaway here is that Trump was early on. 425 00:22:46,600 --> 00:22:49,040 Speaker 4: I mean, I think he if I'm not mistaken, I mean, Annie, 426 00:22:49,240 --> 00:22:52,120 Speaker 4: doesn't Trump organization derive something on the order of five 427 00:22:52,240 --> 00:22:55,359 Speaker 4: hundred million dollars in revenue a year from his residential 428 00:22:55,400 --> 00:22:57,320 Speaker 4: and resort properties. Does that numbers sound right? 429 00:22:57,720 --> 00:23:01,280 Speaker 8: That's income that Trump has reported. That five hundred million 430 00:23:01,320 --> 00:23:04,199 Speaker 8: dollar figure is income that Trump has reported from his 431 00:23:04,280 --> 00:23:07,919 Speaker 8: golf and resort properties in his most recent in his 432 00:23:08,000 --> 00:23:11,080 Speaker 8: most recent financial disclosure, and that was. 433 00:23:11,080 --> 00:23:11,960 Speaker 4: An annual number. 434 00:23:12,000 --> 00:23:12,280 Speaker 5: Wow. 435 00:23:12,359 --> 00:23:14,480 Speaker 4: I mean that's just amazing, right, I mean, think about 436 00:23:14,480 --> 00:23:16,919 Speaker 4: that number, and that's just you know, Trump resorts. So 437 00:23:17,240 --> 00:23:18,080 Speaker 4: you know, there you go. 438 00:23:18,520 --> 00:23:21,960 Speaker 6: It has been outside of drel I mean, Trump has 439 00:23:22,000 --> 00:23:27,800 Speaker 6: hosted live tournaments in New Jersey and DC. And you 440 00:23:27,840 --> 00:23:32,440 Speaker 6: can see I'm trying to get the right word. I 441 00:23:32,520 --> 00:23:35,359 Speaker 6: guess you want to say, this friendship, this relationship that 442 00:23:35,440 --> 00:23:39,040 Speaker 6: he has with Live and is going to continue to grow, 443 00:23:39,240 --> 00:23:42,240 Speaker 6: how much money can he make as long as he 444 00:23:42,320 --> 00:23:42,960 Speaker 6: sticks with Live? 445 00:23:43,600 --> 00:23:47,639 Speaker 8: Well, that's right, And that's the crux of the questions 446 00:23:47,680 --> 00:23:51,919 Speaker 8: around and the criticism of Trump's conflicts of interest here 447 00:23:52,359 --> 00:23:55,320 Speaker 8: is that you know, it's not just Miami. He's hosting 448 00:23:55,440 --> 00:23:58,760 Speaker 8: in other or the Trump organization is hosting Live in 449 00:23:58,800 --> 00:24:04,560 Speaker 8: other locations as well. And I mean that's that's the question. 450 00:24:05,119 --> 00:24:08,400 Speaker 8: As you continue to derive income from these huge events 451 00:24:08,800 --> 00:24:13,360 Speaker 8: and all all the associated kind of money that can 452 00:24:13,359 --> 00:24:18,359 Speaker 8: bring in, is that appropriate when when the when the 453 00:24:18,400 --> 00:24:21,879 Speaker 8: benefits a crew to sitting president of the United States. 454 00:24:21,920 --> 00:24:25,920 Speaker 6: We could start a putt put tournament. Oh boy, and man, 455 00:24:26,080 --> 00:24:27,840 Speaker 6: do you have much money we could make if we 456 00:24:27,880 --> 00:24:28,199 Speaker 6: did that? 457 00:24:29,119 --> 00:24:33,640 Speaker 2: You know we'll have it back us. Michael Barr, Oh, I. 458 00:24:33,560 --> 00:24:38,919 Speaker 6: Think we're out of time. Any thank you, thank you 459 00:24:39,040 --> 00:24:41,920 Speaker 6: so much for joining us here on the Bloomberg Business 460 00:24:41,960 --> 00:24:45,000 Speaker 6: and Sports. Thanks our thanks to Bloomberg News Wealth reporter 461 00:24:45,080 --> 00:24:47,760 Speaker 6: any massive for joining us in other news. In golf, 462 00:24:47,800 --> 00:24:52,719 Speaker 6: Tiger Woods recently rolled out a new futuristic style of golf. 463 00:24:53,000 --> 00:24:56,360 Speaker 6: He and his backers are hoping will bring new fans 464 00:24:56,440 --> 00:24:59,600 Speaker 6: to the game. It's a new golf league called tg 465 00:25:00,600 --> 00:25:04,359 Speaker 6: CO founded by Woods and Rory McElroy in partnership with 466 00:25:04,400 --> 00:25:06,960 Speaker 6: the BGA. It's a new, high tech version of the 467 00:25:06,960 --> 00:25:11,600 Speaker 6: game played in a team competition style indoors. The inaugural 468 00:25:11,680 --> 00:25:15,000 Speaker 6: event has already been in the history books the Bay 469 00:25:15,520 --> 00:25:17,800 Speaker 6: They got the win over the New York Golf Club. 470 00:25:17,880 --> 00:25:22,359 Speaker 6: And by the way, ESPN likes the viewership. According to Sportico, 471 00:25:22,880 --> 00:25:28,840 Speaker 6: they averaged nine hundred nineteen thousand viewers that took place 472 00:25:28,960 --> 00:25:32,159 Speaker 6: Tuesday night, and they found a younger audience than a 473 00:25:32,200 --> 00:25:36,159 Speaker 6: typical golf tournament, as the organizer's intended because it's in 474 00:25:36,200 --> 00:25:38,960 Speaker 6: a two hour format. Up next on the show, we 475 00:25:39,000 --> 00:25:41,920 Speaker 6: turned to college football and its newest big time head coach, 476 00:25:42,000 --> 00:25:46,280 Speaker 6: Bill Belichick, my colleague Scarlett Fu and Damian sasaur At 477 00:25:46,320 --> 00:25:49,080 Speaker 6: Michael Barr. You're listening to the Bloomberg Business of Sports 478 00:25:49,119 --> 00:25:51,199 Speaker 6: in Bloomberg Radio around the world. 479 00:25:56,800 --> 00:26:00,800 Speaker 2: This is Bloomberg Business of Sports from Bluemlomberg Radio. 480 00:26:01,760 --> 00:26:04,000 Speaker 6: Thanks for joining us on the Bloomberg Business of Sports. 481 00:26:04,119 --> 00:26:06,480 Speaker 6: We explore the big money issues in the world of sports. 482 00:26:06,760 --> 00:26:09,480 Speaker 6: I'm Michael Barr, along with my colleagues Scarlett Fu and 483 00:26:09,680 --> 00:26:12,840 Speaker 6: Damian Sasaur. One of the biggest stories in sports right 484 00:26:12,880 --> 00:26:16,840 Speaker 6: now is Bill Belichick. Everyone figured he was going back 485 00:26:16,880 --> 00:26:19,600 Speaker 6: to an NFL team if he coached again, but instead 486 00:26:20,080 --> 00:26:23,159 Speaker 6: he's heading to the University of North Carolina. Here to 487 00:26:23,240 --> 00:26:25,760 Speaker 6: talk about what that means for college football and the 488 00:26:25,760 --> 00:26:30,080 Speaker 6: future of UNC's program is Michael Lombardi. He is the 489 00:26:30,119 --> 00:26:33,600 Speaker 6: new general manager of UNC's football program, and he'll be 490 00:26:33,680 --> 00:26:38,000 Speaker 6: working directly with Belichick. Michael, Welcome to the Bloomberg Business 491 00:26:38,000 --> 00:26:38,480 Speaker 6: of Sports. 492 00:26:38,680 --> 00:26:40,480 Speaker 3: Thank you, it's good to be here. Hope all as well. 493 00:26:40,480 --> 00:26:43,000 Speaker 6: Happy New Year, Happy New year to you. I guess 494 00:26:43,080 --> 00:26:45,240 Speaker 6: you're starting out with a happy new year. You've got 495 00:26:45,600 --> 00:26:48,520 Speaker 6: one whale of a coach. Tell us about the impact 496 00:26:48,640 --> 00:26:50,359 Speaker 6: and what that means for the team. 497 00:26:50,520 --> 00:26:52,639 Speaker 3: Well, I mean it means for tremendously. The state of 498 00:26:52,640 --> 00:26:55,800 Speaker 3: North Carolina, the community of Chapel Hill need to get 499 00:26:55,800 --> 00:26:57,960 Speaker 3: the greatest coach of all time from pro football to 500 00:26:58,080 --> 00:27:01,280 Speaker 3: really embark on college up ball and embrace it with 501 00:27:02,280 --> 00:27:04,639 Speaker 3: all the energy that he possibly has. He's on the 502 00:27:04,720 --> 00:27:08,480 Speaker 3: road today. He's in Charlotte recruiting, talking to young men 503 00:27:08,520 --> 00:27:10,720 Speaker 3: trying to get him to build this North Carolina program 504 00:27:10,760 --> 00:27:14,000 Speaker 3: into the kind of program we believe it can be 505 00:27:14,080 --> 00:27:16,640 Speaker 3: and it's capable of being. It's had many great players, 506 00:27:17,359 --> 00:27:20,439 Speaker 3: but maybe not so many great teams. They've won one 507 00:27:20,480 --> 00:27:24,040 Speaker 3: ACC championship since nineteen eighty. So we're here to hopefully 508 00:27:24,080 --> 00:27:24,800 Speaker 3: try to fix. 509 00:27:24,600 --> 00:27:27,480 Speaker 4: That hold on Michael. Is it true that Bill Belichick 510 00:27:27,600 --> 00:27:28,879 Speaker 4: is on X on Twitter? 511 00:27:28,920 --> 00:27:29,080 Speaker 3: Now? 512 00:27:29,160 --> 00:27:30,960 Speaker 4: I mean, does he have a Twitter hand? I mean, 513 00:27:31,960 --> 00:27:34,280 Speaker 4: I mean this is unbelievable. Did you ever, in your 514 00:27:34,320 --> 00:27:37,560 Speaker 4: lifetime of working with Bill since the eighties nineties, ever 515 00:27:37,680 --> 00:27:40,600 Speaker 4: once think that Bill Bilichick would have his own Twitter handle. 516 00:27:41,160 --> 00:27:43,240 Speaker 3: Well, I don't know about the Twitter or the instaface 517 00:27:43,320 --> 00:27:45,560 Speaker 3: or any of that, but I do know what I 518 00:27:45,560 --> 00:27:48,320 Speaker 3: think people never really understood about Bill is he's a 519 00:27:48,320 --> 00:27:52,240 Speaker 3: great recruiter. You know, the people. The imagery that people 520 00:27:52,320 --> 00:27:54,560 Speaker 3: have a Bill at the press conference is not who 521 00:27:54,600 --> 00:27:58,520 Speaker 3: Bill is behind the doors in terms of how he 522 00:27:59,359 --> 00:28:01,080 Speaker 3: you know, how he had interacts with players, how he 523 00:28:01,119 --> 00:28:04,239 Speaker 3: communicates to players, how players tend to gravitate to them. 524 00:28:04,280 --> 00:28:06,800 Speaker 3: He's very direct, very honest, and I think to me, 525 00:28:06,920 --> 00:28:09,960 Speaker 3: that's what sells a program, and that's why he's connecting 526 00:28:10,000 --> 00:28:12,240 Speaker 3: with kids and we've got, you know, a lot of 527 00:28:12,280 --> 00:28:13,920 Speaker 3: kids that want to come to North Carolina and help 528 00:28:13,960 --> 00:28:16,919 Speaker 3: build our program. And because of him, and you know, 529 00:28:16,960 --> 00:28:19,000 Speaker 3: we're going to be a professional program. I mean, that's 530 00:28:19,000 --> 00:28:22,200 Speaker 3: what we're all about. We we are going to embrace this, 531 00:28:22,800 --> 00:28:24,919 Speaker 3: you know, the challenges that lies ahead of us, and 532 00:28:25,280 --> 00:28:26,879 Speaker 3: we're going to do the things that we have to 533 00:28:26,880 --> 00:28:29,040 Speaker 3: do to build it and get it back, and we're 534 00:28:29,240 --> 00:28:31,560 Speaker 3: talking about making it. You know, look, college football has 535 00:28:31,600 --> 00:28:35,640 Speaker 3: become a professional program. We know that, Right's it's no 536 00:28:35,680 --> 00:28:38,680 Speaker 3: longer collegiate, right it's you know, we have to teach 537 00:28:38,760 --> 00:28:41,640 Speaker 3: these these people, these young men, that the difference between 538 00:28:41,640 --> 00:28:44,040 Speaker 3: what an amateur does and what a professional does. Right, 539 00:28:44,440 --> 00:28:47,600 Speaker 3: Amateurs have goals, Professionals have systems, and that's our job 540 00:28:47,640 --> 00:28:48,080 Speaker 3: to do that. 541 00:28:48,800 --> 00:28:52,120 Speaker 4: You know, Michael, I've seen the pictures of coach Bilichick 542 00:28:52,240 --> 00:28:55,080 Speaker 4: in Rollsville, North Carolina recruiting for star recruits. I know 543 00:28:55,160 --> 00:28:58,040 Speaker 4: that you already and added fifteen new transfers from the 544 00:28:58,040 --> 00:29:00,959 Speaker 4: portal you can retain and the few that were you know, 545 00:29:01,280 --> 00:29:03,520 Speaker 4: at risk of leaving. I mean, I guess you know, 546 00:29:03,560 --> 00:29:05,720 Speaker 4: we could talk about developing players all day long, and 547 00:29:05,760 --> 00:29:08,600 Speaker 4: what a great educator, Bill and yourself are. But just 548 00:29:08,760 --> 00:29:10,880 Speaker 4: how deep are you guys into the portal right now? 549 00:29:10,920 --> 00:29:13,920 Speaker 4: I mean, seriously, forty five hundred players are on the portal. 550 00:29:13,960 --> 00:29:16,160 Speaker 4: You guys got to be watching tape every minute of 551 00:29:16,200 --> 00:29:16,600 Speaker 4: every day. 552 00:29:16,680 --> 00:29:19,720 Speaker 3: No, yeah, you're trying to, you know, you know, but 553 00:29:19,800 --> 00:29:22,360 Speaker 3: we've had experience doing this, right, So the portal is 554 00:29:22,360 --> 00:29:24,320 Speaker 3: a little bit like and I'm old to remember this, 555 00:29:24,360 --> 00:29:26,320 Speaker 3: we had a thing called Plan B in the NFL. 556 00:29:27,160 --> 00:29:28,840 Speaker 3: I don't know what Plan A was, but we had 557 00:29:28,880 --> 00:29:32,440 Speaker 3: to think called Plan B, you know, and so and 558 00:29:32,480 --> 00:29:36,120 Speaker 3: that was teams could freeze thirty seven players and then 559 00:29:36,160 --> 00:29:38,680 Speaker 3: the rest of the roster were free agents. It kind 560 00:29:38,680 --> 00:29:41,800 Speaker 3: of was a back end loaded system. And so teams 561 00:29:41,840 --> 00:29:44,400 Speaker 3: would put players out there that maybe nobody knew about 562 00:29:44,800 --> 00:29:46,800 Speaker 3: and hope they wouldn't touch them, and then team put 563 00:29:46,840 --> 00:29:48,720 Speaker 3: older guys that were out there that weren't as good 564 00:29:48,720 --> 00:29:50,400 Speaker 3: as they hoped they would be. I think that's a 565 00:29:50,440 --> 00:29:52,680 Speaker 3: little bit what the portal's about, right, And so some 566 00:29:52,720 --> 00:29:54,360 Speaker 3: guys that are in there that haven't had a chance to 567 00:29:54,360 --> 00:29:56,920 Speaker 3: demonstrate their skill set. They might have three years, and 568 00:29:56,920 --> 00:29:59,720 Speaker 3: there's some guys in there that have demonstrated their skill 569 00:29:59,760 --> 00:30:02,520 Speaker 3: set and it's not quite what they are good at 570 00:30:02,520 --> 00:30:04,880 Speaker 3: doing at the school they're currently at or given a chance, 571 00:30:04,880 --> 00:30:06,280 Speaker 3: and they want to go somewhere else. So it's a 572 00:30:06,280 --> 00:30:08,680 Speaker 3: little bit of a combination of free agency and plan 573 00:30:08,800 --> 00:30:09,560 Speaker 3: be put together. 574 00:30:10,200 --> 00:30:12,080 Speaker 6: You kind of touched off on it, and I want 575 00:30:12,120 --> 00:30:16,200 Speaker 6: to expand more about it. Nil and I'm just going 576 00:30:16,280 --> 00:30:18,680 Speaker 6: to come out and be clean. I used to be 577 00:30:18,720 --> 00:30:21,920 Speaker 6: one of those guys where go on, kids, get what 578 00:30:22,000 --> 00:30:24,880 Speaker 6: you can while you can, and then the whole thing 579 00:30:25,000 --> 00:30:29,120 Speaker 6: got screwed up, and I'm like, I'm not sure now 580 00:30:29,520 --> 00:30:34,800 Speaker 6: what can happen Because the schools obviously can't pay the 581 00:30:34,880 --> 00:30:38,320 Speaker 6: students if they get an NIL deal. There's the middleman, 582 00:30:38,720 --> 00:30:42,040 Speaker 6: and the middleman is where everything goes to the pot. 583 00:30:42,320 --> 00:30:43,840 Speaker 6: Can you comment more on that. 584 00:30:44,720 --> 00:30:47,720 Speaker 3: Well, I mean, look, I think one of the things 585 00:30:47,760 --> 00:30:51,360 Speaker 3: that we've learned in college football are players you're naming. 586 00:30:51,840 --> 00:30:55,360 Speaker 3: They've made this game football so bright and they deserve 587 00:30:55,440 --> 00:30:57,719 Speaker 3: to get paid. And I think, to me, how that 588 00:30:57,840 --> 00:31:01,600 Speaker 3: money gets to the players, whether it's through their agent 589 00:31:01,720 --> 00:31:04,360 Speaker 3: or through some middleman, I think that needs to get 590 00:31:04,400 --> 00:31:07,200 Speaker 3: really kind of handled because there's a lot of a 591 00:31:07,240 --> 00:31:10,120 Speaker 3: lot of shadiness that goes into this that maybe it 592 00:31:10,200 --> 00:31:12,400 Speaker 3: needs to get certified like the players have in the 593 00:31:12,480 --> 00:31:15,360 Speaker 3: national football legue where there's a union, where there's you know, 594 00:31:15,400 --> 00:31:17,200 Speaker 3: you have to be certified to be an agent to 595 00:31:17,240 --> 00:31:20,360 Speaker 3: get there. And look, we all know it's a negotiation 596 00:31:20,480 --> 00:31:22,880 Speaker 3: with players, so there's going to be some level of dishonesty. 597 00:31:22,920 --> 00:31:26,080 Speaker 3: We're playing poker here, right, you know, how many aces 598 00:31:26,080 --> 00:31:28,280 Speaker 3: do you have? How many do I have? And somebody's 599 00:31:28,320 --> 00:31:30,280 Speaker 3: got to call the bluff in a negotiation and see 600 00:31:30,320 --> 00:31:33,200 Speaker 3: what's going on. So I think, you know, it's just 601 00:31:33,320 --> 00:31:36,040 Speaker 3: part of this growing up process that's college football. Like 602 00:31:36,040 --> 00:31:39,600 Speaker 3: I said earlier, this is really about how to learn 603 00:31:39,640 --> 00:31:41,640 Speaker 3: to become a professional once you've been an amateur. 604 00:31:42,360 --> 00:31:45,080 Speaker 4: Michael, you you came to UNC, your quote, to to 605 00:31:45,120 --> 00:31:48,120 Speaker 4: restore greatness to UNC football, and you know, I guess 606 00:31:48,160 --> 00:31:50,160 Speaker 4: you know what Michael Barr is trying to ask you 607 00:31:50,320 --> 00:31:54,280 Speaker 4: is do you work for DA Bubba Cunningham or do 608 00:31:54,280 --> 00:31:56,840 Speaker 4: you really work for the various NIL collectives and UNC 609 00:31:56,960 --> 00:31:59,240 Speaker 4: alum that you know deliver the funding you need to 610 00:31:59,320 --> 00:32:01,920 Speaker 4: put the most you know, talented players on the field. 611 00:32:02,000 --> 00:32:05,000 Speaker 3: Right, I mean is winning? I work towards winning. I 612 00:32:05,000 --> 00:32:07,760 Speaker 3: think ultimately all our jobs are about winning. I think 613 00:32:07,880 --> 00:32:11,240 Speaker 3: this is a collective group here. I don't think you know. 614 00:32:11,280 --> 00:32:13,760 Speaker 3: To bring Bill in was a huge step for the university. 615 00:32:14,040 --> 00:32:17,240 Speaker 3: Chancellor Roberts, you know, was an instrumental along with Bubble 616 00:32:17,280 --> 00:32:20,040 Speaker 3: Cunningham and making that happen. And it's through their vision 617 00:32:20,160 --> 00:32:22,560 Speaker 3: that we work for We all work for it, and 618 00:32:22,560 --> 00:32:25,840 Speaker 3: that's part of being a leader. Leaders communicate the message 619 00:32:26,240 --> 00:32:30,280 Speaker 3: to everybody in the organization so that there is alignment. 620 00:32:30,360 --> 00:32:32,600 Speaker 3: See people talk about being on the same page, and 621 00:32:32,640 --> 00:32:35,360 Speaker 3: your question is really centered on are we on the 622 00:32:35,360 --> 00:32:38,600 Speaker 3: same page? Because everybody's on the same page until you 623 00:32:38,640 --> 00:32:41,200 Speaker 3: lose the first game, and then when you lose the 624 00:32:41,200 --> 00:32:43,880 Speaker 3: first game, everything falls apart. Nobody's on that page that 625 00:32:44,040 --> 00:32:47,040 Speaker 3: everybody turns the page. But when you have alignment, when 626 00:32:47,080 --> 00:32:50,240 Speaker 3: you have a philosophical belief with what that goes from 627 00:32:50,320 --> 00:32:53,440 Speaker 3: the top of the organization from Chancellor Roberts all the 628 00:32:53,480 --> 00:32:55,880 Speaker 3: way down to the young interns that we hire here, 629 00:32:56,200 --> 00:32:59,040 Speaker 3: then you can gain alignment. And that's what we're after. 630 00:32:59,200 --> 00:33:01,880 Speaker 3: Alignment means as you work for the philosophy, and I 631 00:33:01,880 --> 00:33:03,720 Speaker 3: think that's ultimately what we do well. 632 00:33:03,760 --> 00:33:06,200 Speaker 4: Michael Barichael Lombardi's talking about alignment, and we know Nick 633 00:33:06,200 --> 00:33:08,840 Speaker 4: Saban is you know, looking for work allso, or maybe 634 00:33:08,840 --> 00:33:11,000 Speaker 4: he's not anymore. But he was once defensive coordinator in 635 00:33:11,000 --> 00:33:13,760 Speaker 4: the Cleveland Browns, working for Bill Belichick, you know, notoriously 636 00:33:13,800 --> 00:33:15,920 Speaker 4: close friends and colleagues. I wonder what Nick is thinking 637 00:33:15,960 --> 00:33:19,080 Speaker 4: out there watching coach Belichick returned to the college ranks 638 00:33:19,160 --> 00:33:21,520 Speaker 4: just as soon as he leaves. I mean, any comments there, 639 00:33:21,520 --> 00:33:22,680 Speaker 4: mister Lombardy. 640 00:33:22,920 --> 00:33:24,920 Speaker 3: Well, I mean, look, I love Nick to death, but 641 00:33:24,960 --> 00:33:26,800 Speaker 3: I think Nick's a little bit too tied up with 642 00:33:26,840 --> 00:33:30,640 Speaker 3: his car dealer ships and all that to come back here. 643 00:33:30,800 --> 00:33:33,160 Speaker 3: I mean, Nick is a businessman and he's got his 644 00:33:33,320 --> 00:33:36,600 Speaker 3: time allocated for what he needs to do with his business, 645 00:33:36,680 --> 00:33:38,480 Speaker 3: and I wish him nothing but the best. It was 646 00:33:38,520 --> 00:33:41,360 Speaker 3: an incredible time to spend with him in North Carroll 647 00:33:42,200 --> 00:33:44,400 Speaker 3: at Cleveland, where you know, we only gave up two 648 00:33:44,440 --> 00:33:47,120 Speaker 3: hundred and four points on that defense in twenty nineteen 649 00:33:47,200 --> 00:33:49,320 Speaker 3: ninety four, which was an incredible record. 650 00:33:50,000 --> 00:33:53,480 Speaker 6: Now, which kind of goes to the next question. Were 651 00:33:53,520 --> 00:33:56,680 Speaker 6: you shocked? I was shocked that Bill Belichick was not 652 00:33:56,800 --> 00:34:01,160 Speaker 6: picked up by another NFL team, and he was there 653 00:34:01,320 --> 00:34:05,000 Speaker 6: for the pickings for you guys. Were you surprised about that? 654 00:34:05,720 --> 00:34:08,440 Speaker 3: Uh? No? I in one sense, I was the stupidity 655 00:34:08,480 --> 00:34:11,040 Speaker 3: of people. I mean, look, the Atlanta Falcons claimed they 656 00:34:11,080 --> 00:34:13,640 Speaker 3: had three candidates that were better than Bill Belichick when 657 00:34:13,640 --> 00:34:16,040 Speaker 3: they interviewed, and they put that out there. They claimed 658 00:34:16,040 --> 00:34:18,280 Speaker 3: that those aren't my words. That's what the Terry fontin 659 00:34:18,320 --> 00:34:20,799 Speaker 3: O their general manager, and Rich McKay their president, that's 660 00:34:20,800 --> 00:34:23,080 Speaker 3: what they put out. If you can find three better 661 00:34:23,120 --> 00:34:25,879 Speaker 3: coaches than Bill Belichick on planet Earth, you know, get 662 00:34:25,920 --> 00:34:27,840 Speaker 3: me out on the tourism tour. I'll start trying to 663 00:34:27,880 --> 00:34:29,920 Speaker 3: see if I could find it, because that doesn't exist. 664 00:34:30,200 --> 00:34:32,080 Speaker 3: But that was the rhetoric that was put out. But 665 00:34:32,120 --> 00:34:35,480 Speaker 3: that's really an indication of how people felt threatened by 666 00:34:35,520 --> 00:34:38,520 Speaker 3: his ability and his talent because they wanted to protect 667 00:34:38,520 --> 00:34:40,239 Speaker 3: their own turf. You know, when I first started the 668 00:34:40,280 --> 00:34:42,480 Speaker 3: National Football League in nineteen eighty four, George Young, the 669 00:34:42,480 --> 00:34:44,799 Speaker 3: general manager of the New York Football Giants, had a 670 00:34:44,800 --> 00:34:47,120 Speaker 3: great saying. He said, most people in the NFL just 671 00:34:47,160 --> 00:34:50,439 Speaker 3: protect their desk. And I think that's why Bill wasn't working. 672 00:34:50,480 --> 00:34:52,120 Speaker 3: Everybody was trying to protect their desk. 673 00:34:52,600 --> 00:34:54,200 Speaker 4: You know, Michael, I have to ask you this. Maybe 674 00:34:54,200 --> 00:34:56,239 Speaker 4: you could tell me, really tell me the truth about it. 675 00:34:56,320 --> 00:34:58,040 Speaker 4: I had heard a rumor that you know, Bill had 676 00:34:58,040 --> 00:35:00,839 Speaker 4: submitted some four hundred page plan to the UNC board 677 00:35:00,840 --> 00:35:02,560 Speaker 4: when he was applying, and you know it sounds a 678 00:35:02,600 --> 00:35:04,759 Speaker 4: lout like, you know, Jerry Maguire's mission statement. I mean, 679 00:35:04,800 --> 00:35:07,040 Speaker 4: how does Bill Bilichick need to, you know, submit a 680 00:35:07,040 --> 00:35:08,880 Speaker 4: mission statement or a plan of what he's going to 681 00:35:08,920 --> 00:35:09,440 Speaker 4: do to anybody? 682 00:35:09,520 --> 00:35:09,640 Speaker 6: Right? 683 00:35:09,640 --> 00:35:11,680 Speaker 4: We're talking about Bill Belichick here. I mean, is there 684 00:35:11,719 --> 00:35:14,319 Speaker 4: any truth to that? Did he really put together. 685 00:35:14,040 --> 00:35:17,040 Speaker 3: Spell that he dispelled that? But I think more than anything, 686 00:35:17,080 --> 00:35:19,440 Speaker 3: you know, Bill has a plan. Bill doesn't have a 687 00:35:19,480 --> 00:35:21,879 Speaker 3: foreigner page plan. Bill had a lifetime plan and he's 688 00:35:21,880 --> 00:35:24,319 Speaker 3: been doing this this whole life. So that's just not 689 00:35:24,440 --> 00:35:26,040 Speaker 3: a plan. That's a lifetime plan. 690 00:35:26,640 --> 00:35:30,160 Speaker 6: Can you tell us just about Bill Belichick the man, 691 00:35:30,320 --> 00:35:34,160 Speaker 6: because you worked with them for years, you know him personally, 692 00:35:34,840 --> 00:35:38,360 Speaker 6: and you you touched off on it before. Yes, there's 693 00:35:38,400 --> 00:35:41,239 Speaker 6: that facade that you have when you're talking to reporters 694 00:35:41,239 --> 00:35:44,160 Speaker 6: and blah blah blah blah blah. But I think deep 695 00:35:44,239 --> 00:35:46,960 Speaker 6: down that Bill Belichick is a super. 696 00:35:46,760 --> 00:35:49,520 Speaker 3: Dude, really tremendous, well, the greatest friends you can have, 697 00:35:50,000 --> 00:35:53,200 Speaker 3: you know, whatever. You know, he's honest, he's got great integrity, 698 00:35:53,360 --> 00:35:57,400 Speaker 3: He's somebody that you can count on. He's the definition 699 00:35:57,480 --> 00:35:59,480 Speaker 3: of what a true friend is, and the players seem 700 00:35:59,520 --> 00:36:01,520 Speaker 3: to fill that. You talk to any player who played there, 701 00:36:02,000 --> 00:36:04,960 Speaker 3: you know they understand it and it's important for him 702 00:36:05,360 --> 00:36:08,160 Speaker 3: to maximize your talent. Isn't that what a coach does. 703 00:36:08,560 --> 00:36:11,720 Speaker 3: All great leaders stand behind people when things are going well. 704 00:36:12,000 --> 00:36:14,000 Speaker 3: All great leaders stand in front of people when they 705 00:36:14,000 --> 00:36:16,400 Speaker 3: don't go well. I think that describes Bill perfectly. 706 00:36:16,880 --> 00:36:18,680 Speaker 4: So, Michael, my last question for you is, you know 707 00:36:18,719 --> 00:36:20,799 Speaker 4: where are we now? You know, in building out the team. 708 00:36:20,840 --> 00:36:22,399 Speaker 4: I mean you have to get a coaching staff in place, 709 00:36:22,440 --> 00:36:24,000 Speaker 4: You get a quarterback, right, I mean I talk to 710 00:36:24,080 --> 00:36:25,839 Speaker 4: us a little bit about you know what comes next? 711 00:36:25,840 --> 00:36:26,839 Speaker 4: What your focus is here? 712 00:36:27,600 --> 00:36:30,120 Speaker 3: Well, the portal's kind of closed. It's just some people. 713 00:36:30,160 --> 00:36:32,640 Speaker 3: We'll still get back on high school recruits that haven't signed, 714 00:36:32,680 --> 00:36:35,680 Speaker 3: so we're working on that. This isn't about adding players, 715 00:36:35,719 --> 00:36:39,760 Speaker 3: it's about developing players too. So our job, our mandate, 716 00:36:39,840 --> 00:36:41,440 Speaker 3: is to find a way to make the players that 717 00:36:41,480 --> 00:36:43,520 Speaker 3: we currently have, whether we brought them into the portal, 718 00:36:43,560 --> 00:36:45,520 Speaker 3: whether we brought them into high school, or whether they 719 00:36:45,520 --> 00:36:49,120 Speaker 3: were North Carolina tar Hills before. Our most important thing 720 00:36:49,520 --> 00:36:52,760 Speaker 3: is to make everybody better. It goes to the interns 721 00:36:52,760 --> 00:36:55,160 Speaker 3: in the personnel department, to the players that play on 722 00:36:55,200 --> 00:36:55,560 Speaker 3: the field. 723 00:36:55,920 --> 00:36:58,800 Speaker 6: Okay, before I'll let you go, I've been asking people 724 00:36:58,880 --> 00:37:02,399 Speaker 6: lately your pick for the team that's going to win 725 00:37:02,480 --> 00:37:05,560 Speaker 6: the Super Bowl. I'm hoping you say the team that 726 00:37:05,960 --> 00:37:09,800 Speaker 6: I'm praying that you say, But which team do you 727 00:37:09,800 --> 00:37:10,920 Speaker 6: think will win the Super Bowl? 728 00:37:11,239 --> 00:37:13,359 Speaker 3: It's so hard to bring it two wins the Super Bowl. 729 00:37:13,360 --> 00:37:19,359 Speaker 3: But I think Detroit's performance it's you know, I think 730 00:37:19,360 --> 00:37:21,239 Speaker 3: it was really impressive and I think, you know, one 731 00:37:21,239 --> 00:37:23,520 Speaker 3: thing we have to learn in life. I wrote this 732 00:37:24,000 --> 00:37:27,080 Speaker 3: for The Daily Coach, which I still write on a website, 733 00:37:27,080 --> 00:37:32,480 Speaker 3: about leadership, and you know, I think resistance is really 734 00:37:32,560 --> 00:37:36,680 Speaker 3: something persistence allows us to build strength. Oregon didn't lose 735 00:37:36,719 --> 00:37:39,640 Speaker 3: a game in college football, and when they got into 736 00:37:39,680 --> 00:37:41,960 Speaker 3: that game against Ohio State, they didn't maybe didn't have 737 00:37:42,040 --> 00:37:46,000 Speaker 3: enough resistance to endure. I think sometimes when you're challenged 738 00:37:46,000 --> 00:37:48,920 Speaker 3: and you get knocked down, it helps you reset reality. 739 00:37:49,000 --> 00:37:51,520 Speaker 3: I think the Lions losing last year helped them reset 740 00:37:51,560 --> 00:37:54,520 Speaker 3: their reality. And look, I think Baltimore's the same way. 741 00:37:54,560 --> 00:37:57,319 Speaker 3: I think Baltimore with Lamar Jackson and Derek Henry, now 742 00:37:57,600 --> 00:38:00,000 Speaker 3: they can do that, So I like both those teams. 743 00:38:00,680 --> 00:38:04,719 Speaker 6: Yeah, I'm a diehard Detroit fan and I've been there 744 00:38:04,760 --> 00:38:07,759 Speaker 6: when they didn't win a dog on game and I 745 00:38:07,840 --> 00:38:10,560 Speaker 6: have a T shirt that says I was a Detroit 746 00:38:10,640 --> 00:38:14,360 Speaker 6: Lions fan before it was cool. Michael Lombardi, new general 747 00:38:14,360 --> 00:38:17,920 Speaker 6: manager of the University of North Carolina football program. Thank you, 748 00:38:18,040 --> 00:38:21,000 Speaker 6: sir for joining us on the Bloomberg Business of Sports. 749 00:38:21,080 --> 00:38:24,080 Speaker 6: Thank you, thank you for joining us. For my colleague 750 00:38:24,080 --> 00:38:27,600 Speaker 6: Scarlett Foo and Damian Sasaur. I'm Michael Barr. Tune in 751 00:38:27,640 --> 00:38:30,040 Speaker 6: again next week for the latest on the stories moving 752 00:38:30,080 --> 00:38:32,440 Speaker 6: big old money in the world of sports. Don't forget 753 00:38:32,440 --> 00:38:36,400 Speaker 6: to catch our podcast on all your podcast platforms. Subscribe 754 00:38:36,480 --> 00:38:40,440 Speaker 6: now on Apple, Spotify, and anywhere else you get your podcasts. 755 00:38:40,840 --> 00:38:44,960 Speaker 6: You're listening to The Bloomberg Business of Sports from Bloomberger 756 00:38:45,040 --> 00:38:46,360 Speaker 6: Radio around the world.