WEBVTT - Netflix to Stream NFL Games on Christmas Day, Welcome Golden State Valkyries

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<v Speaker 1>This is Bloomberg Business of Sports. Business of Sports can

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<v Speaker 1>be intimidating for hard for starting to break into.

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<v Speaker 2>We really appreciate where our owners are actually there, you know,

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<v Speaker 2>with us through the journey.

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<v Speaker 3>Teams ours especially been very intentional to diversify at all

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<v Speaker 3>levels of the Companyshybe. We're in the golden years for

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<v Speaker 3>the NFL and college football.

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<v Speaker 2>Our demographic reach has continued to expande.

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<v Speaker 3>This is going to be really unlocking the streaming platform

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<v Speaker 3>for sports fans.

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<v Speaker 4>Sports evaluations arising.

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<v Speaker 1>We'll see when they peak.

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<v Speaker 4>You don't have to be the best in your sports

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<v Speaker 4>and make a whole ton of money.

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<v Speaker 1>Bloomberg Business of Sports from Bloomberg Radio. Hello world, This

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<v Speaker 1>is the Bloomberg Business of Sports show where we explore

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<v Speaker 1>the big money issues in the world of sports.

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<v Speaker 3>Sound like well, I'm.

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<v Speaker 2>Scarlett Foo and Tidi Meansas hour on the lineup.

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<v Speaker 1>Today, it's official w NBA team is coming to the

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<v Speaker 1>Bay Area. The Golden State Valkyries were announced as the

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<v Speaker 1>latest sticks team for the increasingly popular league, the WNBA's

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<v Speaker 1>first expansion team since two thousand and eight, with more

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<v Speaker 1>teams on the horizon.

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<v Speaker 2>And so joining us later in the program to discuss

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<v Speaker 2>what this means for women's basketball, for the city of

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<v Speaker 2>San Francisco, and for the team itself. Is Jess Smith,

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<v Speaker 2>president of the newest WNBA franchise, the Golden State Falkyraz.

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<v Speaker 5>Being the thirteenth expansion team is a big deal and

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<v Speaker 5>we take it with a great responsibility. And the fact

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<v Speaker 5>that it is the Bay Area for us is something

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<v Speaker 5>that we wanted to lean into. When you think of

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<v Speaker 5>the Bay Area inside and outside of it, you know,

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<v Speaker 5>it's the place where being progressive and innovative, you know,

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<v Speaker 5>is part of the everyday culture there and often leading

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<v Speaker 5>the world.

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<v Speaker 3>Plus, we can't talk about the WNBA without mentioning their

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<v Speaker 3>biggest newest star, Kaitlyn Clark. Bloomberg's Ira Budewagh joins us

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<v Speaker 3>later to explain how the Caitlin Clark effect comes at

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<v Speaker 3>a critical moment for the league.

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<v Speaker 1>That is straight ahead on the Bloomberg Business of Sports Show.

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<v Speaker 1>But first, the NFL release they're much anticipated schedule for

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<v Speaker 1>the upcoming season this past Wednesday, and there are two

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<v Speaker 1>games that is generating headlines. Can you hear right now

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<v Speaker 1>Damien rubbing his hands. That's him being.

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<v Speaker 2>Excited, but.

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<v Speaker 1>Not for the reasons you may think streaming giant Netflix

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<v Speaker 1>is continuing its major strides into live sports programming, announcing

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<v Speaker 1>it will stream two football games on Christmas Day this year,

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<v Speaker 1>with the defending Super Bowl champs Kansas City Chiefs taking

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<v Speaker 1>on the Pittsburgh Steelers and the Houston Texans taking on

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<v Speaker 1>the Baltimore Ravens. With more on that major streaming deal,

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<v Speaker 1>we are joined by Bloomberg Entertainment reporter Lucas Shaw. Lucas,

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<v Speaker 1>Welcome to the Bloomberg Business of Sports.

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<v Speaker 4>Great to be here in person.

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<v Speaker 1>Well, there's gonna be a lot of fights this Christmas.

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<v Speaker 1>Think about it. I mean, is one thing for Thanksgiving?

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<v Speaker 1>You know, when the Lions play Thanksgiving and the Cowboys

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<v Speaker 1>play Thanksgiving and the Packers play on Thanksgiving, it's accepted.

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<v Speaker 1>We're just easing into this Christmas thing. And now this

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<v Speaker 1>big deal has been announced.

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<v Speaker 4>Well, I'm someone who looks forward to basketball on Christmas

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<v Speaker 4>every year. Yeah, So, I'm sure the NBA is livid

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<v Speaker 4>that the NFL is once again trying to claim another

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<v Speaker 4>night because I think that as NFL claims more days

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<v Speaker 4>of the week and more times of the year, they're

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<v Speaker 4>just stealing inventory from other sports. Because it's the most

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<v Speaker 4>powerful sport in the US and they can. And this

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<v Speaker 4>is another case where you know, they've added another partner.

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<v Speaker 4>And I think if you were to ask, say Amazon,

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<v Speaker 4>which thought they were the sort of streaming partner for

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<v Speaker 4>the NFL, they'd be pretty frustrated that suddenly Netflix has

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<v Speaker 4>a couple of games.

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<v Speaker 3>So the lesson here is there are no exclusive partnerships

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<v Speaker 3>with the NFL. The NFL does whatever it wants.

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<v Speaker 4>That I think the last thing you said is the

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<v Speaker 4>key part. Yes, the NFL does whatever the heck it

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<v Speaker 4>wants at all times, and there's nothing that anyone can

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<v Speaker 4>do about it.

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<v Speaker 3>What happened to Netflix saying, oh, no, we're not interested

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<v Speaker 3>in live sports, Well.

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<v Speaker 4>They've been softening on that. They ever since they introduced

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<v Speaker 4>their advertising business a couple of years ago, they've started

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<v Speaker 4>to also invest in live events. You know, they had

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<v Speaker 4>a live comedy special from Chris Rock. They had a

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<v Speaker 4>live reunion of the hit show Love Is Blind. They've

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<v Speaker 4>just did some live comedy out of this comedy festival

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<v Speaker 4>in LA and that has done. You know, they had

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<v Speaker 4>a celebrity golf event, they had a one off tennis

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<v Speaker 4>It's obvious to anyone looking at it that if you're

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<v Speaker 4>trying to build an advertising business, and that means you

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<v Speaker 4>want to have live programming. The most valuable live programming

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<v Speaker 4>in the world is sports, and I think they're just

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<v Speaker 4>trying to slow walk it because they don't want to

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<v Speaker 4>make it sound like they're going to start bidding billions

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<v Speaker 4>of dollars for live sports rights, because they don't think

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<v Speaker 4>Wall Street wants to hear them say that, and they

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<v Speaker 4>don't believe that that's the most efficient use of their capital.

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<v Speaker 4>But if they can find some of these one off

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<v Speaker 4>events to do to try to kind of build up

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<v Speaker 4>their portfolio, they seem happy to test it out.

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<v Speaker 2>Lucas, I'm a Jeff fan, and I'm going to be

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<v Speaker 2>We're all sorry. I've got six primetime games that I

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<v Speaker 2>have to find on television this shield and I have Amazon, ESPN, Netflix, Peacock.

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<v Speaker 2>I mean there's prime Time, there's ABC. How do I

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<v Speaker 2>figure all this out? First of all? And secondly, you know,

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<v Speaker 2>for you know you Cowboy and forty nine er fans

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<v Speaker 2>who also have six primetime games, we're the only three.

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<v Speaker 2>Talk to me a little bit about what this means

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<v Speaker 2>going forward. Is there going to be any sort of

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<v Speaker 2>directive from the NFL itself to kind of guide us

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<v Speaker 2>on our Sundays, on our Thursday nights. So I mean,

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<v Speaker 2>how do we know where to go? I mean, I

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<v Speaker 2>just don't know where to go anymore. There's so many

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<v Speaker 2>options out there.

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<v Speaker 4>Did you really struggle to figure out where to watch

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<v Speaker 4>the Jets last year?

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<v Speaker 3>No?

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<v Speaker 2>I didn't really, but I mean most Thursday nights Thursday

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<v Speaker 2>nights between the NFL network, and some of these got

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<v Speaker 2>a little.

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<v Speaker 4>Skylight for it. I take the question because there is

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<v Speaker 4>some frustration that the NFL keeps slicing and dicing the

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<v Speaker 4>schedule and bringing in new partners, and so it feels

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<v Speaker 4>a little bit like.

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<v Speaker 2>But transparency, Just show us where to go, like you know,

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<v Speaker 2>I mean, like you know, give us the slate, you know,

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<v Speaker 2>or give us a pack. Is there any way they

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<v Speaker 2>can provide their audience with a package?

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<v Speaker 3>Well?

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<v Speaker 4>I think I guess football to me feels somewhat straightforward,

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<v Speaker 4>only in that they are the main packages. You know

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<v Speaker 4>where to go? Right? Okay, So if you look at

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<v Speaker 4>the regular season schedule, Fox and CBS have the still

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<v Speaker 4>the lion's share of the games. Between the two of them,

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<v Speaker 4>they have the vast majority of the games on Sunday

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<v Speaker 4>morning Sunday afternoon, depending on what part of the country

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<v Speaker 4>that you live in. Sure, if you want to do

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<v Speaker 4>Red Zone Sunday ticket, you go to YouTube. That was

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<v Speaker 4>always a separate package. I think that's fine because that's

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<v Speaker 4>just a separate experience. Monday Night football has been around forever.

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<v Speaker 4>The newer ones are Thursday, the occasional Saturday, and then

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<v Speaker 4>this Netflix thing is just Christmas. I think the one

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<v Speaker 4>that really freaked people out was Peacock with the playoffs,

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<v Speaker 4>because suddenly you had to sign up for another service

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<v Speaker 4>to access it. It seems like it was a big success.

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<v Speaker 3>The playoffs are different from the regular season. That just

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<v Speaker 3>becomes an added wrinkle here for Damian, I mean, I

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<v Speaker 3>know it's not an issue for you with the Jets.

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<v Speaker 4>Lucas, I'm glad you said it because thanks Carlett, you

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<v Speaker 4>know that dagger in the side of it.

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<v Speaker 2>But Lucas, I mean here the thing you know, I

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<v Speaker 2>mean for me? You know you just said success and

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<v Speaker 2>how do you define success? Yes, successful from the perspective

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<v Speaker 2>of the NFL, But I mean pet of Peacock, okay,

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<v Speaker 2>but how can exactly but how long can they continue

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<v Speaker 2>this with this audience? I mean, look, I know NFL's

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<v Speaker 2>the greatest sport on Earth, but you know, content is king.

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<v Speaker 2>I mean, but if you can't find it and people

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<v Speaker 2>are just not happy with the way you're presenting it,

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<v Speaker 2>doesn't that count for something.

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<v Speaker 4>Look, the NFL had I think the best ratings it's

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<v Speaker 4>ever had last year, so it doesn't seem like it's

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<v Speaker 4>hurting interest in the sport all that much, which is

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<v Speaker 4>why the league feels comfortable doing whatever it wants to do.

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<v Speaker 4>There may come a point at which people get frustrated

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<v Speaker 4>by it, and you've seen in less popular sports the

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<v Speaker 4>effort to create these other packages, right like Baseball created

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<v Speaker 4>like Friday Evening with Apple and Sunday Morning, which it

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<v Speaker 4>was initially with Peacock. Now it's on Roku, Like nobody's

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<v Speaker 4>watching that package. Nobody cares. But football, the fandom is

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<v Speaker 4>such that I think they feel they can keep carving

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<v Speaker 4>out these games. There may come a point at which

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<v Speaker 4>people get frustrated by it, but I would argue that

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<v Speaker 4>their media partners are probably going to get frustrated before

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<v Speaker 4>the fans, because the issue becomes if they have a

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<v Speaker 4>bunch of games on services that people don't want to

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<v Speaker 4>sign up for right, But Netflix doesn't feel like that.

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<v Speaker 4>It presents that issue to me because Netflix is a

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<v Speaker 4>service that basically everybody has, and you're gonna have plenty

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<v Speaker 4>of people who open that service on Christmas Day and

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<v Speaker 4>are happy to find football. And it's worth noting. I

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<v Speaker 4>guess we are not hitting the peak in interest right.

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<v Speaker 4>This is creating a new day to watch football, which

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<v Speaker 4>I think for football fans is great. Maybe not for

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<v Speaker 4>other people in their lives.

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<v Speaker 1>Well, see that brings up a problem another. As I said,

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<v Speaker 1>we're going to go back to a lot of fights

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<v Speaker 1>on Christmas because Christmas this year falls on a Wednesday,

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<v Speaker 1>and if you are an out of your mind fantasy

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<v Speaker 1>football nut, you're going to be watching both of those games.

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<v Speaker 1>I can just see Grandma right now, turn that TV

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<v Speaker 1>off and come and eat your dinner. I can see

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<v Speaker 1>this happening. But hey, they're the NFL.

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<v Speaker 4>I think they can get away with doing it. To

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<v Speaker 4>me that the losers in this or the NBA and

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<v Speaker 4>some of the other networks, some of the other networks

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<v Speaker 4>that are mad that they didn't get it. But to

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<v Speaker 4>your point, they picked a couple of good games. The

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<v Speaker 4>audience f it's gonna be.

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<v Speaker 1>Huge that was Grandma falling over? Right?

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<v Speaker 2>Well, yeah right, you know, Lucas, you know, we keep

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<v Speaker 2>saying this, Scarlett said that, you said it, even Michael's

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<v Speaker 2>alluding to it. You know, the NFL can do anything

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<v Speaker 2>it wants, right, And you know, I'm wondering when we

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<v Speaker 2>say the NFL can do anything at wants, who are

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<v Speaker 2>we really talking about? Because I look at for you know,

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<v Speaker 2>the schedule is just released, and who is the odd

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<v Speaker 2>man out is the NFL and by the NFL is

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<v Speaker 2>at Roger Goodell? Is it?

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<v Speaker 4>You know?

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<v Speaker 5>Wayne?

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<v Speaker 2>I mean who are the ownerses of matters? Who who

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<v Speaker 2>makes the decisions here? Who is running the NFL these days?

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<v Speaker 4>Well, Goodell is the commissioner, so he's running the NFL.

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<v Speaker 2>So he picks that Carolina and David Tepper od man at.

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<v Speaker 4>Well that you know, Brian Rolap runs the media business

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<v Speaker 4>and so he's having a lot of those negotiations. And

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<v Speaker 4>then you have obviously they Goodell ultimately serves at the

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<v Speaker 4>whims of the owners, and you have certain owners who

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<v Speaker 4>are more influential and powerful than others, of course, but

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<v Speaker 4>it's a good question. I don't know. I don't know

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<v Speaker 4>who makes the decision to David Tepper's.

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<v Speaker 3>Poor David Tepper. I don't think anyone's ever said those

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<v Speaker 3>words together.

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<v Speaker 4>It would be helpful for him if the team were good, which.

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<v Speaker 2>It's not so exactly.

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<v Speaker 3>So, Lucas, what does this mean for MLB? You mentioned

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<v Speaker 3>that they're working on a partnership with Roku and they

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<v Speaker 3>already had one with another streamer that you know, you

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<v Speaker 3>said nobody cares. Do the other leagues look at this

0:10:41.360 --> 0:10:43.920
<v Speaker 3>and say, this opens up new opportunities for us or

0:10:43.960 --> 0:10:45.560
<v Speaker 3>do they look at this and say, great now the

0:10:45.640 --> 0:10:47.400
<v Speaker 3>NFL is just hgging up everything for itself.

0:10:47.520 --> 0:10:51.920
<v Speaker 4>Well, look, the NFL opening up Netflix as a buyer

0:10:52.280 --> 0:10:53.800
<v Speaker 4>is good news for all the other leagues.

0:10:53.880 --> 0:10:54.000
<v Speaker 1>Right.

0:10:54.040 --> 0:10:57.200
<v Speaker 4>The NBA tried to get Netflix in and its its

0:10:57.200 --> 0:10:59.720
<v Speaker 4>current negotiations, and they had some meetings but it didn't go.

0:10:59.760 --> 0:11:01.760
<v Speaker 3>Very so that's not happening then.

0:11:01.880 --> 0:11:04.800
<v Speaker 4>No, No, the NBA is going to do has a

0:11:04.840 --> 0:11:08.240
<v Speaker 4>deal in place basically with Disney and Amazon. They're negotiating

0:11:08.240 --> 0:11:11.440
<v Speaker 4>with between Comcasts and Warner Brothers Discovery for a third package.

0:11:11.520 --> 0:11:16.240
<v Speaker 4>It's a little fluid, but Netflix is almost certainly not

0:11:16.320 --> 0:11:19.560
<v Speaker 4>gonna have any NBA rights, But the NFL prying that

0:11:19.640 --> 0:11:22.439
<v Speaker 4>open as an option is certainly good for other sports.

0:11:22.600 --> 0:11:24.760
<v Speaker 4>The issue that other sports have relative to the NFL

0:11:24.840 --> 0:11:27.760
<v Speaker 4>is just the NFL has has this scarcity where there

0:11:27.760 --> 0:11:30.480
<v Speaker 4>are only a certain number of games a year and

0:11:30.520 --> 0:11:33.520
<v Speaker 4>they only get played once a week. Baseball. I mean,

0:11:33.520 --> 0:11:35.360
<v Speaker 4>obviously they are multiple games during the week, but each

0:11:35.400 --> 0:11:36.880
<v Speaker 4>team only plays once a week.

0:11:36.960 --> 0:11:37.840
<v Speaker 3>Any given Sunday.

0:11:37.840 --> 0:11:41.200
<v Speaker 4>Idea Baseball's problem. And look, I'm a big baseball fan.

0:11:41.240 --> 0:11:43.280
<v Speaker 4>I care about baseball more than I care about football.

0:11:43.520 --> 0:11:48.480
<v Speaker 4>But they people people play, they're too many games. Yeah,

0:11:48.520 --> 0:11:51.640
<v Speaker 4>you know, I'm a diehard baseball fan, but I don't

0:11:51.679 --> 0:11:53.800
<v Speaker 4>I'm not watching every game this week or when I'm

0:11:53.880 --> 0:11:55.720
<v Speaker 4>when I'm in New York. You know, I follow it

0:11:55.920 --> 0:11:58.040
<v Speaker 4>on my phone. I know the Dodgers lost last night,

0:11:58.080 --> 0:12:01.720
<v Speaker 4>but I'm not needing to walk every game. And so

0:12:01.760 --> 0:12:04.440
<v Speaker 4>the media rights and the value that each game has

0:12:04.520 --> 0:12:07.000
<v Speaker 4>is last I mean, the NFL sold these games to

0:12:07.040 --> 0:12:11.920
<v Speaker 4>Netflix for about seventy five million per regular season game.

0:12:12.160 --> 0:12:15.720
<v Speaker 4>I mean, what would a one baseball game go for?

0:12:15.880 --> 0:12:18.120
<v Speaker 4>Maybe a million dollar, I don't know what the number is.

0:12:18.160 --> 0:12:20.520
<v Speaker 4>But these packages that they've done with the company like Roku,

0:12:20.559 --> 0:12:21.680
<v Speaker 4>they're not huge packages.

0:12:21.840 --> 0:12:25.360
<v Speaker 1>Thank you very much, Luca Shall for joining us here

0:12:25.480 --> 0:12:28.120
<v Speaker 1>on the Bloomberg Business of Sports. We really do appreciate it.

0:12:28.200 --> 0:12:29.199
<v Speaker 4>Yeah, thank you for having me.

0:12:29.480 --> 0:12:33.560
<v Speaker 1>Hey Up. Next on the show, Bloomberg's Ira Boodway joins

0:12:33.640 --> 0:12:36.400
<v Speaker 1>us to tell us how the star power of Caitlin

0:12:36.480 --> 0:12:40.160
<v Speaker 1>Clark has become the business boom for the WNBA had

0:12:40.200 --> 0:12:42.480
<v Speaker 1>a straight ahead on the Bloomberg Business of Sports Show.

0:12:42.679 --> 0:12:45.920
<v Speaker 1>I'm Michael Barr along with Scarlett Food and Damian Safsawerg.

0:12:46.040 --> 0:12:57.160
<v Speaker 1>This is Bloomberg. This is Bloomberg Business of Sports from

0:12:57.240 --> 0:13:01.720
<v Speaker 1>Bloomberg Radio. Welcome back to the Bloomberg Business of Sports Show,

0:13:01.760 --> 0:13:03.760
<v Speaker 1>where we explore the big money issues in the world

0:13:03.800 --> 0:13:07.640
<v Speaker 1>of sports. I'm Michael Barr along with Scarlettfuo and Damian Sasaur.

0:13:08.000 --> 0:13:12.800
<v Speaker 6>The twenty twenty four WNBA drafts number one overall pick

0:13:12.840 --> 0:13:14.040
<v Speaker 6>here to Indianapolis.

0:13:14.679 --> 0:13:16.920
<v Speaker 2>Please welcome Caitland Clark.

0:13:17.760 --> 0:13:20.920
<v Speaker 1>Unless you've been living under a rock, you have certainly

0:13:21.000 --> 0:13:24.720
<v Speaker 1>heard the name. Caitlyn Clark, the all time college basketball

0:13:24.840 --> 0:13:28.400
<v Speaker 1>leading scorer for both men and women's college hoops and

0:13:28.600 --> 0:13:32.160
<v Speaker 1>number one overall pick in this year's draft, is already

0:13:32.160 --> 0:13:36.000
<v Speaker 1>making her mark in the WNBA on and off the court.

0:13:36.320 --> 0:13:40.640
<v Speaker 1>Ticket sales way up, viewership, way up. She was on

0:13:40.720 --> 0:13:44.760
<v Speaker 1>Saturday Night Live. Celebrities are talking about her, and players

0:13:44.800 --> 0:13:49.000
<v Speaker 1>are traveling on chartered flights. As our Ira Budway puts it,

0:13:49.200 --> 0:13:52.760
<v Speaker 1>the Caitland Clark effect is real. So joining us now

0:13:52.800 --> 0:13:56.440
<v Speaker 1>to discuss the Caitland Clark effect is Bloomberg News Business

0:13:56.520 --> 0:13:59.320
<v Speaker 1>of Sports reporter Ira Budway. Iirah, thank you, sir for

0:13:59.360 --> 0:14:01.160
<v Speaker 1>joining us on the bl Business and Sports.

0:14:01.280 --> 0:14:02.000
<v Speaker 4>Thanks for having me.

0:14:02.240 --> 0:14:04.960
<v Speaker 1>She's the one that they are always going to after

0:14:05.000 --> 0:14:08.640
<v Speaker 1>the game for right now, but as time progresses and

0:14:08.800 --> 0:14:12.760
<v Speaker 1>the WNBA season is young, we're going to see more

0:14:12.760 --> 0:14:14.120
<v Speaker 1>of her and she's going to be back in her

0:14:14.120 --> 0:14:15.880
<v Speaker 1>group when she was back in college.

0:14:16.480 --> 0:14:17.199
<v Speaker 4>Yeah, I think so.

0:14:17.240 --> 0:14:20.520
<v Speaker 6>I think everyone says that she's the real deal, that

0:14:20.560 --> 0:14:23.400
<v Speaker 6>it's not just hype. And I don't think you, you know,

0:14:23.480 --> 0:14:26.000
<v Speaker 6>are the all time leading scorer in college and the

0:14:26.040 --> 0:14:29.440
<v Speaker 6>all time leading three point shooter in college if you

0:14:29.440 --> 0:14:32.960
<v Speaker 6>don't have some real talent, So, you know, I think

0:14:33.360 --> 0:14:36.840
<v Speaker 6>where the ceiling is remains to be seen, but the

0:14:36.920 --> 0:14:37.760
<v Speaker 6>floor is high.

0:14:37.880 --> 0:14:40.240
<v Speaker 3>A lot has been made about how much money she's

0:14:40.360 --> 0:14:44.480
<v Speaker 3>potentially giving up by moving from college sports college basketball

0:14:44.520 --> 0:14:48.680
<v Speaker 3>to the professional league's the WNBA, because of the rookie salary,

0:14:48.680 --> 0:14:51.520
<v Speaker 3>the first year salary for players. Why is this a

0:14:51.560 --> 0:14:53.760
<v Speaker 3>red herring? Why is this not the real story?

0:14:54.280 --> 0:14:57.560
<v Speaker 6>Well, you know, it's interesting because of course pay in

0:14:57.680 --> 0:15:01.480
<v Speaker 6>college doesn't come from your school, at least not technically, right.

0:15:02.040 --> 0:15:04.000
<v Speaker 6>Any money you're going to get in college is basically

0:15:04.040 --> 0:15:07.040
<v Speaker 6>a marketing agreement of sponsorship deal. They call it nil

0:15:07.280 --> 0:15:09.480
<v Speaker 6>name image likeness at the college level, but it's really

0:15:09.480 --> 0:15:12.400
<v Speaker 6>the same thing at the professional level. So Caitlin Clark

0:15:12.480 --> 0:15:15.480
<v Speaker 6>was making millions as a player with the Iowhawkeyes. She's

0:15:15.520 --> 0:15:17.560
<v Speaker 6>going to continue to make millions as a player in

0:15:17.560 --> 0:15:20.680
<v Speaker 6>the WNBA. It's just that most of that money will

0:15:20.720 --> 0:15:25.760
<v Speaker 6>come from her marketing partners, Nike, Gatorade, and so forth.

0:15:25.880 --> 0:15:29.640
<v Speaker 6>State Farm. She's not taking a pay cut as some suggested,

0:15:29.720 --> 0:15:33.760
<v Speaker 6>But it is true that her salary with the Indiana

0:15:33.800 --> 0:15:36.920
<v Speaker 6>Fever is really small. It's about seventy six thousand dollars.

0:15:37.320 --> 0:15:39.520
<v Speaker 2>So all right, let's talk a little bit about Caitlin

0:15:39.560 --> 0:15:42.400
<v Speaker 2>Clark's impact on sports gambling, because when she was with

0:15:42.440 --> 0:15:44.760
<v Speaker 2>the Hawkeyes, if I'm not mistaken, one of the statistics

0:15:44.760 --> 0:15:47.400
<v Speaker 2>in front of me, the amount of gambling that went

0:15:47.440 --> 0:15:51.240
<v Speaker 2>on on the Iowahawkeyes on Caitlin Clark on their team

0:15:51.280 --> 0:15:54.640
<v Speaker 2>to win, etc. Was through the roof. Are we seeing

0:15:55.120 --> 0:15:58.520
<v Speaker 2>some similarities now that she's moved to the WNBA into

0:15:58.520 --> 0:15:59.560
<v Speaker 2>the Indiana Fever.

0:16:00.120 --> 0:16:03.440
<v Speaker 6>Yeah, I mean I got a pitch from a gambling

0:16:03.440 --> 0:16:06.680
<v Speaker 6>house to handle the amount bet on her first game

0:16:07.120 --> 0:16:10.160
<v Speaker 6>was the most ever for WNBA wo they'd seen, And

0:16:10.200 --> 0:16:13.040
<v Speaker 6>I think that's just one more indicator of the interest

0:16:13.080 --> 0:16:16.440
<v Speaker 6>that she drives. So you see it in ticket sales,

0:16:16.800 --> 0:16:19.400
<v Speaker 6>you know, for the Indiana Fever, they're going from about

0:16:19.400 --> 0:16:23.080
<v Speaker 6>four thousand people attending per game to they think capacity

0:16:23.080 --> 0:16:26.960
<v Speaker 6>crowds probably about seventeen thousand for most games. And you

0:16:27.000 --> 0:16:30.440
<v Speaker 6>see it in ratings, you know, she drew millions to

0:16:30.560 --> 0:16:34.880
<v Speaker 6>watch Hawkeyes games, way above what the records had been before.

0:16:35.440 --> 0:16:38.040
<v Speaker 6>You see it in merchandise. Dick's Sporting Goods is selling

0:16:38.320 --> 0:16:42.360
<v Speaker 6>her gear nationwide, which they've never done for WNBA player before.

0:16:42.440 --> 0:16:45.280
<v Speaker 6>So betting is just one more way in which people

0:16:45.480 --> 0:16:48.440
<v Speaker 6>follow her more than they ever have a women's basketball player.

0:16:48.520 --> 0:16:51.160
<v Speaker 2>Well, right, let's just crystallize this for the sharps out there.

0:16:51.240 --> 0:16:54.800
<v Speaker 2>I'm looking at the odds to win the WNBA MVP

0:16:55.000 --> 0:16:58.120
<v Speaker 2>this year, right, and obviously I Wilson of the Las

0:16:58.480 --> 0:17:01.520
<v Speaker 2>Vegas Aces, she's the chance up bringing champion. The Libby's

0:17:01.520 --> 0:17:05.040
<v Speaker 2>Brianna Stewart is second, but then Caitlyn Clark number is

0:17:05.200 --> 0:17:08.240
<v Speaker 2>third at plus nine hundred. Are we seeing maybe the

0:17:08.280 --> 0:17:10.520
<v Speaker 2>fact that people are getting a little too hyped up

0:17:10.560 --> 0:17:13.000
<v Speaker 2>with Caitlyn Clark for her to be in third for

0:17:13.040 --> 0:17:15.919
<v Speaker 2>the MVP running in this year's I mean, is is

0:17:15.960 --> 0:17:19.040
<v Speaker 2>that realistic? Is that logical? Does that make any sense

0:17:19.080 --> 0:17:19.879
<v Speaker 2>in the world we live in?

0:17:19.920 --> 0:17:20.320
<v Speaker 1>I don't know.

0:17:20.680 --> 0:17:22.280
<v Speaker 6>I think it's you know, you would see this with

0:17:22.320 --> 0:17:25.320
<v Speaker 6>Tiger Woods whenever you see a sort of transcendent figure

0:17:25.359 --> 0:17:28.960
<v Speaker 6>in sports, and she's been compared to Tiger Woods. Michael

0:17:29.000 --> 0:17:31.359
<v Speaker 6>Jordan's so great for the books, Yeah, yeah, great for

0:17:31.440 --> 0:17:34.200
<v Speaker 6>the great interest in betting on her. You know people

0:17:34.240 --> 0:17:37.680
<v Speaker 6>are gonna probably yeah squares are going to take that bet,

0:17:38.080 --> 0:17:41.760
<v Speaker 6>but who knows. I mean, her talent is pretty pretty.

0:17:41.480 --> 0:17:44.320
<v Speaker 3>Amazing, and her arrival on the scene at the WNBA

0:17:44.640 --> 0:17:47.680
<v Speaker 3>is perfect timing because this is a league that has

0:17:47.720 --> 0:17:50.760
<v Speaker 3>done better, but let's face it is still kind of struggling.

0:17:50.960 --> 0:17:54.520
<v Speaker 3>They get to renegotiate their media rights fairly soon after

0:17:54.680 --> 0:17:57.919
<v Speaker 3>Caitlin Clark's arrival. But and it's not clear what's going

0:17:57.960 --> 0:18:00.760
<v Speaker 3>to happen with player salaries either, but they definitely needed

0:18:00.760 --> 0:18:02.080
<v Speaker 3>a shot in the arm and they got it with

0:18:02.160 --> 0:18:05.000
<v Speaker 3>Kaitlin Clark. Tell us a little bit about the economics

0:18:05.040 --> 0:18:05.960
<v Speaker 3>of the WNBA.

0:18:06.359 --> 0:18:08.240
<v Speaker 6>Yeah, I mean, she comes along at a really critical

0:18:08.280 --> 0:18:11.359
<v Speaker 6>moment and I think arguably a perfect moment for the league,

0:18:11.400 --> 0:18:15.160
<v Speaker 6>which has been trying to sort of raise its profile

0:18:15.240 --> 0:18:18.600
<v Speaker 6>over the last few years. They raised money, took in

0:18:18.640 --> 0:18:22.879
<v Speaker 6>outside investors for seventy five million worth of investment to

0:18:22.960 --> 0:18:26.800
<v Speaker 6>kind of increase their marketing presence, and they are in

0:18:26.840 --> 0:18:29.280
<v Speaker 6>the process now of negotiating some of their major media

0:18:29.320 --> 0:18:31.240
<v Speaker 6>rights deals, which is the main source of revenue. The

0:18:31.600 --> 0:18:34.000
<v Speaker 6>rest they'll do over the next eighteen months or so.

0:18:34.520 --> 0:18:36.720
<v Speaker 6>At the same time, they will in all likelihood be

0:18:37.160 --> 0:18:39.240
<v Speaker 6>at the table with their players for the next collective

0:18:39.280 --> 0:18:43.560
<v Speaker 6>bargaining agreement sometime over the next eighteen months. So it's

0:18:43.600 --> 0:18:47.359
<v Speaker 6>all happening in the context of Caitlin Clark's arrival, which

0:18:47.720 --> 0:18:49.760
<v Speaker 6>you know, should raise the price for the media rates

0:18:50.000 --> 0:18:52.680
<v Speaker 6>and provide leverage to the players to get a better

0:18:52.680 --> 0:18:53.920
<v Speaker 6>pay package this time around.

0:18:54.000 --> 0:18:55.560
<v Speaker 2>Well, Rick, can you talk a little bit more about

0:18:55.560 --> 0:18:57.880
<v Speaker 2>the CBA, because I thought that they struck a new

0:18:57.920 --> 0:19:01.000
<v Speaker 2>CBA in jen of twenty twenty with an eight year deal,

0:19:01.040 --> 0:19:04.040
<v Speaker 2>So is that up in the next is that being changed?

0:19:04.080 --> 0:19:06.760
<v Speaker 6>There's an option for the players at the end of

0:19:06.800 --> 0:19:09.399
<v Speaker 6>this season to opt out and make next season the

0:19:09.440 --> 0:19:11.439
<v Speaker 6>final season, so they would basically spend next.

0:19:11.400 --> 0:19:12.439
<v Speaker 2>Year they're definitely going to do.

0:19:12.480 --> 0:19:14.560
<v Speaker 6>They will do, Yeah, I mean, I think that's every

0:19:14.600 --> 0:19:17.119
<v Speaker 6>indication is that they will. I think, especially with the

0:19:17.280 --> 0:19:20.480
<v Speaker 6>interest that we're seeing now and with the fact that

0:19:20.520 --> 0:19:23.120
<v Speaker 6>these new media rights deals will be in large part

0:19:23.240 --> 0:19:26.840
<v Speaker 6>known quantities by then, and I think the players feel

0:19:27.160 --> 0:19:29.640
<v Speaker 6>that they didn't really get the best deal last time around.

0:19:30.480 --> 0:19:33.560
<v Speaker 6>There were some incentives baked into that CBA that were

0:19:33.840 --> 0:19:36.639
<v Speaker 6>revenue sharing targets, and they never hit them, so they

0:19:36.680 --> 0:19:37.680
<v Speaker 6>never saw penny of that.

0:19:37.880 --> 0:19:40.040
<v Speaker 2>Well, I mean, these players clearly weren't happy because they're

0:19:40.080 --> 0:19:43.600
<v Speaker 2>playing in places like Italy, Russia, Britney Griner, right, I mean,

0:19:43.640 --> 0:19:46.280
<v Speaker 2>they still have to go abroad in order to get

0:19:46.280 --> 0:19:47.480
<v Speaker 2>compensated fairly.

0:19:47.480 --> 0:19:49.560
<v Speaker 3>Or do they? Or do they? Because there's something in

0:19:49.600 --> 0:19:52.639
<v Speaker 3>the WNBA's twenty twenty Collective Bargaining Agreement that kind of

0:19:52.680 --> 0:19:55.200
<v Speaker 3>addresses that yeah, So they created.

0:19:54.840 --> 0:19:58.240
<v Speaker 6>These what they call marketing agreements or league marketing program

0:19:58.320 --> 0:20:02.399
<v Speaker 6>where some players can stick around. The league kind of

0:20:02.520 --> 0:20:05.800
<v Speaker 6>picks a few stars basically, and what you have to

0:20:05.840 --> 0:20:08.800
<v Speaker 6>do to get this extra money is don't go overseas

0:20:08.840 --> 0:20:11.160
<v Speaker 6>to play. You stick around and train during the offseason,

0:20:11.160 --> 0:20:15.679
<v Speaker 6>and you make appearances for league sponsors, Google, Carmas, so forth,

0:20:16.119 --> 0:20:19.639
<v Speaker 6>and you can make on top of your salary, you

0:20:19.680 --> 0:20:23.960
<v Speaker 6>can make another two hundred and fifty thousand. So there's

0:20:24.000 --> 0:20:26.240
<v Speaker 6>a few different incentives they've baked in to try to

0:20:26.280 --> 0:20:28.600
<v Speaker 6>get players to help grow the league. So the league

0:20:28.600 --> 0:20:31.119
<v Speaker 6>will tell you, like if the top top players can

0:20:31.160 --> 0:20:33.359
<v Speaker 6>make like half a million a year all in, so,

0:20:33.359 --> 0:20:36.040
<v Speaker 6>it's not as bad as the seventy six thousand rookie

0:20:36.080 --> 0:20:39.199
<v Speaker 6>salary for Kaitlin Clark makes it look, but it's still

0:20:39.359 --> 0:20:43.400
<v Speaker 6>not millions, which you might expect for elite professional athletes.

0:20:43.520 --> 0:20:45.199
<v Speaker 2>Now, Hira, let me ask you this. I know that

0:20:45.280 --> 0:20:48.800
<v Speaker 2>the NBA's package their TV rights are coming up, as

0:20:48.840 --> 0:20:51.160
<v Speaker 2>we know what's the deal with the WNBA. Do they

0:20:51.200 --> 0:20:53.800
<v Speaker 2>piggyback off the NBA's efforts there, Do they have their

0:20:53.800 --> 0:20:56.400
<v Speaker 2>own negotiations that take place, and when do those come

0:20:56.800 --> 0:20:57.240
<v Speaker 2>come up.

0:20:57.400 --> 0:20:58.080
<v Speaker 4>It's a hybrid.

0:20:58.280 --> 0:21:02.000
<v Speaker 6>So the biggest partner that the WNBA has is ESPN

0:21:02.119 --> 0:21:05.719
<v Speaker 6>and that was bundled in with ESPN's big deal with

0:21:05.800 --> 0:21:09.439
<v Speaker 6>the NBA, which kicked in in twenty sixteen. That is

0:21:09.480 --> 0:21:12.080
<v Speaker 6>on the table right now. Every indications are ESPN's going

0:21:12.119 --> 0:21:15.040
<v Speaker 6>to renew and that the WNBA will be included in that.

0:21:16.160 --> 0:21:19.680
<v Speaker 6>And then there's also reporting by US and others that

0:21:20.119 --> 0:21:22.680
<v Speaker 6>Amazon is going to get an NBA package this time

0:21:22.720 --> 0:21:26.680
<v Speaker 6>around for Amazon Prime. Amazon Prime already has WNBA games,

0:21:26.760 --> 0:21:29.639
<v Speaker 6>they're separate package, so it looks like they're going to

0:21:29.720 --> 0:21:33.280
<v Speaker 6>add to their WNBA inventory in this bigger deal with

0:21:33.359 --> 0:21:36.959
<v Speaker 6>the NBA. And then there are a couple other deals

0:21:37.040 --> 0:21:39.879
<v Speaker 6>that the WNBA will do on their own over you know,

0:21:39.920 --> 0:21:42.080
<v Speaker 6>that expire in twenty twenty five, so they'll have the

0:21:42.160 --> 0:21:45.040
<v Speaker 6>chance to redo those as well. So it's a mix

0:21:45.080 --> 0:21:47.400
<v Speaker 6>of both. They have four partners. At the moment, they

0:21:47.400 --> 0:21:51.359
<v Speaker 6>bring in about sixty million a year in media rights,

0:21:51.400 --> 0:21:55.120
<v Speaker 6>and Kathy Engelbert, the WNBA commissioner, has said she wants

0:21:55.160 --> 0:21:56.159
<v Speaker 6>to double that number.

0:21:56.440 --> 0:21:58.960
<v Speaker 3>And of course inventory is only going to increase because

0:21:59.040 --> 0:22:01.680
<v Speaker 3>the league just added a new team, the Golden State,

0:22:01.960 --> 0:22:05.760
<v Speaker 3>newly named Valkyries, and the talk is that Toronto will

0:22:05.800 --> 0:22:08.360
<v Speaker 3>get a team in the coming years as well. The

0:22:08.480 --> 0:22:12.120
<v Speaker 3>WNBA at one point did expand, but it expanded too

0:22:12.280 --> 0:22:15.239
<v Speaker 3>rapidly and that proved to be well, it was kind

0:22:15.280 --> 0:22:17.879
<v Speaker 3>of painful and it led to a shrinking of the league.

0:22:17.920 --> 0:22:20.639
<v Speaker 3>So walk us through how the WNBA is going to

0:22:20.640 --> 0:22:22.880
<v Speaker 3>move forward with this expansion now, Yeah.

0:22:22.720 --> 0:22:25.400
<v Speaker 6>I mean the goal, according to Engelbert, is twenty four.

0:22:25.440 --> 0:22:27.439
<v Speaker 6>So they're at twelve teams now that they're peak they

0:22:27.440 --> 0:22:32.000
<v Speaker 6>were sixteen. They want to get to twenty four teams

0:22:32.280 --> 0:22:35.680
<v Speaker 6>over the next decade, which I think makes sense. I mean,

0:22:35.720 --> 0:22:37.840
<v Speaker 6>the way Engelbert puts it is, we've got a country

0:22:37.840 --> 0:22:40.920
<v Speaker 6>of three hundred million people. Twelve teams is just not enough.

0:22:41.440 --> 0:22:44.480
<v Speaker 6>And you're right, it adds inventory of all sorts, and

0:22:44.840 --> 0:22:48.160
<v Speaker 6>those teams not all of them are owned by NBA owners.

0:22:48.240 --> 0:22:52.280
<v Speaker 6>Some of them are independently owned. So I think they

0:22:52.320 --> 0:22:54.800
<v Speaker 6>can get there. I mean, with Toronto and Golden State

0:22:54.840 --> 0:22:59.520
<v Speaker 6>coming on. If you see momentum continue from where we

0:22:59.520 --> 0:23:02.040
<v Speaker 6>are now, which is certainly the level starting this season

0:23:02.080 --> 0:23:04.359
<v Speaker 6>is higher than it's ever been. I don't think twenty

0:23:04.400 --> 0:23:05.840
<v Speaker 6>four is an unreasonable target.

0:23:05.960 --> 0:23:08.680
<v Speaker 2>So got the Angelbert. Her role right as the head

0:23:08.680 --> 0:23:11.280
<v Speaker 2>of the NBA is not necessarily to do what's in

0:23:11.280 --> 0:23:13.600
<v Speaker 2>the best interest of the players. She represents the owners right,

0:23:13.840 --> 0:23:16.800
<v Speaker 2>and so she represents you know, the business building of

0:23:16.800 --> 0:23:20.200
<v Speaker 2>the WNBA, building franchise value, you know, dealing with these

0:23:20.240 --> 0:23:24.120
<v Speaker 2>media companies. With all of that. Talk to us about

0:23:24.320 --> 0:23:26.720
<v Speaker 2>the job she's doing. I mean, what's the sense from

0:23:26.800 --> 0:23:29.400
<v Speaker 2>ownership and that, for that matter, from the players. I mean,

0:23:29.640 --> 0:23:31.560
<v Speaker 2>did they respect her? Is she doing a good job

0:23:31.560 --> 0:23:34.320
<v Speaker 2>in that seat? Has she fulfilled her obligation? Is she

0:23:34.400 --> 0:23:38.320
<v Speaker 2>increasing not only the awareness but the franchise value of

0:23:38.359 --> 0:23:39.160
<v Speaker 2>these teams era?

0:23:39.720 --> 0:23:42.600
<v Speaker 6>I mean we have seen deals. The Seattle Storm sold

0:23:42.680 --> 0:23:45.120
<v Speaker 6>a chunk of their revenue not too long ago at

0:23:45.119 --> 0:23:48.320
<v Speaker 6>a record price for the WNBA. So from that perspective,

0:23:48.359 --> 0:23:51.119
<v Speaker 6>I think owners can feel like things are going in

0:23:51.160 --> 0:23:51.840
<v Speaker 6>the right direction.

0:23:53.280 --> 0:23:53.800
<v Speaker 4>Players.

0:23:53.840 --> 0:23:57.360
<v Speaker 6>It's really tricky because it's just this question of do

0:23:57.440 --> 0:24:01.200
<v Speaker 6>you invest right. Leagues lose money, startup leagues lose money.

0:24:01.280 --> 0:24:03.440
<v Speaker 6>The NFL lost money for a long time, Major League

0:24:03.440 --> 0:24:05.400
<v Speaker 6>Baseball lost money for a long time, the NBA lost

0:24:05.440 --> 0:24:06.919
<v Speaker 6>money for a long time. There are still teams that

0:24:06.960 --> 0:24:09.840
<v Speaker 6>lose money to this day. So it's not like a

0:24:09.920 --> 0:24:14.119
<v Speaker 6>highly profitable enterprise necessarily at least until you get way

0:24:14.240 --> 0:24:18.400
<v Speaker 6>into developing the long term allegiances that are the lifeblood

0:24:18.400 --> 0:24:21.080
<v Speaker 6>of sports. So the players can argue, look, you have

0:24:21.119 --> 0:24:24.560
<v Speaker 6>to invest in us now right, and then it will

0:24:24.600 --> 0:24:27.400
<v Speaker 6>be what you wanted to be later. And you see

0:24:27.400 --> 0:24:31.119
<v Speaker 6>this played out recently with charter flights. So the league

0:24:31.200 --> 0:24:34.480
<v Speaker 6>did not have the players flew commercial between games until

0:24:34.520 --> 0:24:37.040
<v Speaker 6>this year. And you saw it for Caitlin Clark's first

0:24:37.119 --> 0:24:39.960
<v Speaker 6>preseason game. It was a news story her at the

0:24:39.960 --> 0:24:42.640
<v Speaker 6>baggage carousel, the person who sat in the same row

0:24:42.680 --> 0:24:46.120
<v Speaker 6>with her, talking to local news reporters. And then like

0:24:46.280 --> 0:24:48.399
<v Speaker 6>four days later, Kathy Engelbert came out and said, we're

0:24:48.440 --> 0:24:50.000
<v Speaker 6>going to get charter flights as soon as we can

0:24:50.000 --> 0:24:52.159
<v Speaker 6>get them set up in Delta. They stepped up as

0:24:52.160 --> 0:24:54.560
<v Speaker 6>a partner to fund this. It's like twenty five million

0:24:54.600 --> 0:24:57.000
<v Speaker 6>a year to do. They'd been really hesitant to do

0:24:57.040 --> 0:24:59.000
<v Speaker 6>it because they didn't the owners were like, how can

0:24:59.040 --> 0:25:02.240
<v Speaker 6>we keep stomaching costs if we're not bringing in the revenue.

0:25:02.480 --> 0:25:05.520
<v Speaker 6>So that balancing act of what comes first is what

0:25:05.640 --> 0:25:08.119
<v Speaker 6>she's working with now. And I think what happens is

0:25:08.119 --> 0:25:11.600
<v Speaker 6>Clark accelerates both the revenue the corporate partners and the

0:25:11.600 --> 0:25:13.360
<v Speaker 6>pressure to pay the players.

0:25:13.640 --> 0:25:17.000
<v Speaker 1>Be in Global Business of Sports reporter Ira wood Way,

0:25:17.359 --> 0:25:19.000
<v Speaker 1>thank you again, man, appreciate it.

0:25:19.040 --> 0:25:19.359
<v Speaker 4>Thank you.

0:25:19.560 --> 0:25:22.199
<v Speaker 1>Up Next, we stay on the topic of the WNBA

0:25:22.320 --> 0:25:26.000
<v Speaker 1>and speak to the president of the league's newest expansion team,

0:25:26.320 --> 0:25:30.200
<v Speaker 1>the Golden State, al Kyries. Jess Smith joins us on

0:25:30.240 --> 0:25:33.000
<v Speaker 1>the other side. That's straight ahead on the Bloomberg Business

0:25:33.040 --> 0:25:35.679
<v Speaker 1>of Sports. I'm Michael Barr along with Scarlett Fooh and

0:25:35.880 --> 0:25:40.200
<v Speaker 1>Damian Sassaur. You're listening to the Bloomberg Business of Sports

0:25:40.440 --> 0:25:50.400
<v Speaker 1>on Bloomberg Radio around the world. This is Bloomberg Business

0:25:50.400 --> 0:25:55.119
<v Speaker 1>of Sports from Bloomberg Radio. This is Bloomberg Business of

0:25:55.200 --> 0:25:58.080
<v Speaker 1>Sports where we explore where the big money issues in

0:25:58.080 --> 0:26:00.359
<v Speaker 1>the world of sports. I'm Michael Barr along with Garlett

0:26:00.400 --> 0:26:05.119
<v Speaker 1>foo and Damian Sasaur. Today I learned what a valkyrie is.

0:26:05.760 --> 0:26:11.120
<v Speaker 1>It's a strong, bold, and fierce female goddess who work

0:26:11.200 --> 0:26:15.719
<v Speaker 1>together to guide fallen warriors. That's according to Nordic folklore.

0:26:16.000 --> 0:26:18.520
<v Speaker 1>But now they have come to the Bay Area as

0:26:18.560 --> 0:26:24.040
<v Speaker 1>the WNBA last Tuesday announced that the league's thirteenth expansion

0:26:24.080 --> 0:26:27.080
<v Speaker 1>team there first since two thousand and eight the Golden

0:26:27.119 --> 0:26:31.080
<v Speaker 1>State Valkyries, with the team's inaugural season tipping off next year.

0:26:31.280 --> 0:26:34.280
<v Speaker 1>So joining us to discuss is the president of the team,

0:26:34.720 --> 0:26:39.040
<v Speaker 1>Jess Smith. Jess, welcome to the Bloomberg Business of Sports

0:26:39.080 --> 0:26:40.639
<v Speaker 1>and congratulations.

0:26:40.960 --> 0:26:43.600
<v Speaker 5>Thank you so much. That intro is pretty epic. I

0:26:43.640 --> 0:26:45.040
<v Speaker 5>need you to do that. Every time I walk.

0:26:44.880 --> 0:26:48.320
<v Speaker 1>Into a room this called me, I'll put it on tape,

0:26:48.440 --> 0:26:52.720
<v Speaker 1>nil War, I'll do it for you. Well, this is,

0:26:53.200 --> 0:26:56.040
<v Speaker 1>first of all, again this is a big, big move,

0:26:56.080 --> 0:27:00.240
<v Speaker 1>and it's like the WNBA expanding. You know, this is

0:27:00.320 --> 0:27:04.600
<v Speaker 1>another sign that the WNBA there's a lot of money

0:27:04.640 --> 0:27:05.440
<v Speaker 1>to be made there.

0:27:05.600 --> 0:27:08.119
<v Speaker 5>That's exactly right, you know, this moment of expansion and

0:27:08.200 --> 0:27:10.680
<v Speaker 5>also an expansion through Golden State, through the Bay Area

0:27:10.720 --> 0:27:13.160
<v Speaker 5>and how we're going to build This is a pivotal

0:27:13.160 --> 0:27:15.840
<v Speaker 5>moment for the WNBA. You know, there's been tremendous growth

0:27:15.920 --> 0:27:18.840
<v Speaker 5>over the years, but what we're seeing right now is

0:27:18.880 --> 0:27:22.919
<v Speaker 5>a trajectory of speed like no one anticipated, and we

0:27:22.960 --> 0:27:25.480
<v Speaker 5>are definitely going to lean into that. I think the

0:27:25.520 --> 0:27:28.320
<v Speaker 5>other really incredible thing is that, yes, we are the

0:27:28.359 --> 0:27:31.040
<v Speaker 5>first expansion team since two thousand and eight, but we're

0:27:31.040 --> 0:27:33.480
<v Speaker 5>not the last the commissioner has come out and shared

0:27:33.520 --> 0:27:36.080
<v Speaker 5>that there will be many more coming, you know, and

0:27:36.280 --> 0:27:38.520
<v Speaker 5>we'll stay tuned to her for those extra details. But

0:27:38.640 --> 0:27:40.760
<v Speaker 5>the reality is there's no slowing down.

0:27:40.920 --> 0:27:44.480
<v Speaker 3>There's no slowing down. The team was announced as the

0:27:44.480 --> 0:27:48.080
<v Speaker 3>thirteenth WIBA franchise back in October, and this week you

0:27:48.200 --> 0:27:51.800
<v Speaker 3>unveiled the team's brand identity. Michael Barr said it it's

0:27:51.840 --> 0:27:54.760
<v Speaker 3>the Golden State Valkyries. Although I can't quite say the

0:27:54.760 --> 0:27:57.239
<v Speaker 3>way that you said at Michael Barr, can you give

0:27:57.320 --> 0:27:59.760
<v Speaker 3>us a little bit of background here on what was

0:27:59.800 --> 0:28:04.080
<v Speaker 3>the thinking behind the Valkyries and this being a Bay

0:28:04.119 --> 0:28:07.280
<v Speaker 3>Area team? Of course, you tapped your fan base for

0:28:07.520 --> 0:28:11.080
<v Speaker 3>suggestions for the team through social media for instance.

0:28:11.359 --> 0:28:14.400
<v Speaker 5>Yeah, I mean, first and foremost, being the thirteenth expansion

0:28:14.480 --> 0:28:16.919
<v Speaker 5>team is a big deal and we take it with

0:28:16.960 --> 0:28:19.439
<v Speaker 5>a great responsibility. And the fact that it is the

0:28:19.440 --> 0:28:22.280
<v Speaker 5>Bay Area for us is something that we wanted to

0:28:22.320 --> 0:28:24.720
<v Speaker 5>lean into. When you think of the Bay Area inside

0:28:24.800 --> 0:28:26.879
<v Speaker 5>and outside of it, you know, it's the place where

0:28:26.920 --> 0:28:31.000
<v Speaker 5>being progressive and innovative, you know, is part of the

0:28:31.040 --> 0:28:34.760
<v Speaker 5>everyday culture there and often leading the world in making

0:28:34.800 --> 0:28:37.840
<v Speaker 5>the impossible possible. From what we thought and so that

0:28:38.200 --> 0:28:42.080
<v Speaker 5>culture of the Bay and coupled with making that something

0:28:42.120 --> 0:28:45.880
<v Speaker 5>that's a nod to the Golden State basketball culture really

0:28:45.960 --> 0:28:49.200
<v Speaker 5>came to the top, not only internally as a consideration

0:28:49.280 --> 0:28:52.440
<v Speaker 5>with the Valkyries, but the earliest of days there was

0:28:52.680 --> 0:28:54.400
<v Speaker 5>to what you were saying. We actually went out to

0:28:54.440 --> 0:28:57.400
<v Speaker 5>market and we said, hey, can you write in your

0:28:57.720 --> 0:28:59.719
<v Speaker 5>answers for And we did this through a local newspaper,

0:28:59.800 --> 0:29:01.960
<v Speaker 5>Thisrancisco Chronicle, can you write in what the team should

0:29:02.000 --> 0:29:04.840
<v Speaker 5>be called? Not a multiple choice, not anything, And twenty

0:29:04.880 --> 0:29:08.920
<v Speaker 5>five percent of fans said the Valkyrise. So this name

0:29:08.960 --> 0:29:11.120
<v Speaker 5>has been out there for a while, and I truly

0:29:11.160 --> 0:29:15.400
<v Speaker 5>believe the reason is not only is it an incredibly

0:29:15.400 --> 0:29:19.240
<v Speaker 5>strong female warrior that can fly and swim, but it's

0:29:19.240 --> 0:29:22.280
<v Speaker 5>somebody that travels together. And what we're seeing in women's

0:29:22.320 --> 0:29:26.560
<v Speaker 5>sports right now is the imperative nature of doing this together,

0:29:26.640 --> 0:29:31.120
<v Speaker 5>whether it's fans, sponsors, media, everyone, and you know, as

0:29:31.120 --> 0:29:34.320
<v Speaker 5>that ecosystem continues to spin, that's where you're seeing this

0:29:34.400 --> 0:29:36.560
<v Speaker 5>forward trajectory. You know that's going to get us to

0:29:36.600 --> 0:29:38.440
<v Speaker 5>a more equitable world through sport.

0:29:38.600 --> 0:29:38.840
<v Speaker 4>Jess.

0:29:38.880 --> 0:29:42.680
<v Speaker 2>The inaugural WNBA season tipped off back in nineteen ninety

0:29:42.760 --> 0:29:46.080
<v Speaker 2>seven June of nineteen ninety seven. You mentioned previously that

0:29:46.200 --> 0:29:48.600
<v Speaker 2>you know, this is the first expansion franchise since the

0:29:48.640 --> 0:29:51.880
<v Speaker 2>Atlantic Dream in two two thousand and eight. My question

0:29:52.000 --> 0:29:54.400
<v Speaker 2>for you is what took it so long? Right? Is

0:29:54.400 --> 0:29:57.960
<v Speaker 2>this just a byproduct of the Caitlin Clark fever that's

0:29:58.040 --> 0:30:00.920
<v Speaker 2>gripping you know, women's basketball, or there's something deeper going

0:30:00.960 --> 0:30:01.320
<v Speaker 2>on here.

0:30:01.360 --> 0:30:03.320
<v Speaker 5>There's a lot of things that are deeper going on,

0:30:03.360 --> 0:30:06.120
<v Speaker 5>and that's with no disrespect to the phenom that is

0:30:06.200 --> 0:30:08.520
<v Speaker 5>Caitlin Clark and everything that she brings to the game

0:30:08.640 --> 0:30:12.160
<v Speaker 5>alongside so many But when you really reflect back, this

0:30:12.200 --> 0:30:15.800
<v Speaker 5>starts with title nine. You know, my generation, we thought

0:30:15.800 --> 0:30:18.840
<v Speaker 5>it was normal to see women playing sports in college,

0:30:18.880 --> 0:30:21.200
<v Speaker 5>and prior to that that wasn't the case. You know,

0:30:21.360 --> 0:30:24.520
<v Speaker 5>so exposure to sport, continuation of sport, and so forth

0:30:24.880 --> 0:30:26.320
<v Speaker 5>has been in motion for a long time.

0:30:26.440 --> 0:30:26.600
<v Speaker 1>You know.

0:30:26.640 --> 0:30:30.080
<v Speaker 5>The w it was a pivotal moment. I remember seeing

0:30:30.120 --> 0:30:32.120
<v Speaker 5>that announcement come out. I think I was thirteen years

0:30:32.160 --> 0:30:34.320
<v Speaker 5>old to be like, oh my gosh, like this is incredible.

0:30:34.360 --> 0:30:38.000
<v Speaker 5>There's finally a professional women's basketball league here. And you know,

0:30:38.080 --> 0:30:40.400
<v Speaker 5>there were a lot of learnings that came along the way.

0:30:40.800 --> 0:30:43.520
<v Speaker 5>I think what you're seeing happening in real time and

0:30:43.560 --> 0:30:47.120
<v Speaker 5>why you're seeing a difference in growth now, in visibility now,

0:30:47.800 --> 0:30:51.640
<v Speaker 5>is that there is an understanding from consumers and investors

0:30:51.760 --> 0:30:54.000
<v Speaker 5>as to what that potential is. You know, for so

0:30:54.160 --> 0:30:56.720
<v Speaker 5>long you would hear like, well, if they can sell

0:30:56.760 --> 0:30:59.280
<v Speaker 5>six thousand tickets, you know, that would be great, but

0:30:59.320 --> 0:31:01.560
<v Speaker 5>no one was necescessarily approaching it in this way with

0:31:01.720 --> 0:31:04.720
<v Speaker 5>what if we had had sold out arenas what if

0:31:05.040 --> 0:31:08.200
<v Speaker 5>we built something bigger than just basketball? You know, And

0:31:08.240 --> 0:31:11.880
<v Speaker 5>there's that continuous narrative of you know our NBA fans

0:31:12.000 --> 0:31:14.720
<v Speaker 5>WNBA fans, Well, the NBA fans aren't coming to WNBA games.

0:31:14.760 --> 0:31:17.520
<v Speaker 5>Well it's a different product. Yes, it's the same sport,

0:31:17.600 --> 0:31:20.160
<v Speaker 5>but the audience is different. You know, women's sports is

0:31:20.200 --> 0:31:23.240
<v Speaker 5>in women's basketball specifically, a mix of sport and purpose

0:31:23.240 --> 0:31:26.320
<v Speaker 5>and pop culture. And so the opportunity to lean into

0:31:26.640 --> 0:31:29.840
<v Speaker 5>is building a brand around that, inviting consumers in that

0:31:29.920 --> 0:31:32.880
<v Speaker 5>want that right, and that's not always an NBA fan.

0:31:33.280 --> 0:31:34.960
<v Speaker 5>In fact, we're seeing a lot of folks that aren't

0:31:35.000 --> 0:31:38.880
<v Speaker 5>sports fans join the sports landscape through this lens, and

0:31:38.920 --> 0:31:40.160
<v Speaker 5>that's incredibly powerful.

0:31:40.520 --> 0:31:45.240
<v Speaker 1>Franchise valuation for teams recently, like with the Seattle Storm,

0:31:45.240 --> 0:31:47.800
<v Speaker 1>they're valued at one hundred and fifty one million dollars.

0:31:47.840 --> 0:31:52.880
<v Speaker 1>That's compared to last year. That's relatively cheap compared to

0:31:53.360 --> 0:31:58.040
<v Speaker 1>NBA teams. And I'm just wondering how long this is

0:31:58.120 --> 0:32:01.440
<v Speaker 1>going to last before I should, like, you know, get

0:32:01.440 --> 0:32:04.480
<v Speaker 1>my pennies together and get some money in this league.

0:32:04.600 --> 0:32:06.720
<v Speaker 5>I mean, now that we're here, you better hurry up.

0:32:08.720 --> 0:32:11.360
<v Speaker 5>But the real answer is, you know, it's not slowing down.

0:32:11.600 --> 0:32:15.000
<v Speaker 5>You're seeing infrastructure built, you're seeing true investment from a

0:32:15.000 --> 0:32:18.880
<v Speaker 5>broadcast standpoint. You are seeing investment from ownership groups and

0:32:18.960 --> 0:32:21.840
<v Speaker 5>games and building brands like what we launched today, and

0:32:21.880 --> 0:32:24.960
<v Speaker 5>it truly is going nowhere. And so when you look

0:32:25.000 --> 0:32:27.720
<v Speaker 5>at team valuations, they're a compilation of all of those

0:32:27.760 --> 0:32:30.440
<v Speaker 5>factors going into it, of just where they sit in

0:32:30.440 --> 0:32:33.440
<v Speaker 5>the marketplace. And you know, I think I think it's

0:32:33.480 --> 0:32:35.440
<v Speaker 5>the lowest that you're going to see it some time,

0:32:35.560 --> 0:32:36.000
<v Speaker 5>if at all.

0:32:36.200 --> 0:32:38.560
<v Speaker 3>And we should mention as well. Speaking of big numbers,

0:32:38.800 --> 0:32:42.600
<v Speaker 3>the Golden State Warriors paid a record fifty million dollars

0:32:43.040 --> 0:32:46.040
<v Speaker 3>to enter the WNBA. The ownership group in order to

0:32:46.080 --> 0:32:48.800
<v Speaker 3>build out this expansion team. Can you talk to us

0:32:48.800 --> 0:32:51.520
<v Speaker 3>a little bit about what it will mean to be

0:32:51.680 --> 0:32:54.400
<v Speaker 3>partners with the Warriors and how you're going to use

0:32:54.440 --> 0:32:56.840
<v Speaker 3>some of their best practices, how you're going to enhance

0:32:57.280 --> 0:32:58.800
<v Speaker 3>some of their best practices.

0:32:59.200 --> 0:33:02.280
<v Speaker 5>We're going to really fortunate position to have the legacy

0:33:02.320 --> 0:33:04.920
<v Speaker 5>and the trust of Golden State. This ownership group has

0:33:04.960 --> 0:33:08.120
<v Speaker 5>earned that. You know, everything that they do, they really

0:33:08.160 --> 0:33:10.480
<v Speaker 5>do their best to be the best in the community

0:33:10.880 --> 0:33:13.400
<v Speaker 5>and on the core and fans know that, and that's

0:33:13.400 --> 0:33:17.000
<v Speaker 5>the trust that people inherently bring to this brand. We

0:33:17.240 --> 0:33:20.360
<v Speaker 5>are partners in this, and I think that's what is

0:33:20.400 --> 0:33:22.920
<v Speaker 5>going to be fun, you know, in the journey together.

0:33:23.440 --> 0:33:26.040
<v Speaker 5>Mean by that is, for instance, you know, the Warriors

0:33:26.080 --> 0:33:28.840
<v Speaker 5>have an incredible basketball academy. It's the largest and most

0:33:28.840 --> 0:33:32.200
<v Speaker 5>diverse in the NBA. When we're thinking about that together,

0:33:32.360 --> 0:33:35.280
<v Speaker 5>we're thinking about equal exposure within that. So boys and

0:33:35.320 --> 0:33:38.600
<v Speaker 5>girls will have equal exposure to the WNBA with the

0:33:38.640 --> 0:33:42.479
<v Speaker 5>Belkyries and the NBA with Warriors, and they're not going

0:33:42.520 --> 0:33:44.800
<v Speaker 5>to be segmented by gender, right, So young boys are

0:33:44.800 --> 0:33:48.040
<v Speaker 5>going to wear WNBA and young girls NBA and vice versa.

0:33:48.120 --> 0:33:50.640
<v Speaker 5>And the point of that is that you know, the

0:33:50.680 --> 0:33:53.960
<v Speaker 5>opportunity to really idolize all genders through sport will be

0:33:54.160 --> 0:33:57.400
<v Speaker 5>very normal in our ecosystem. They have such a legacy

0:33:57.560 --> 0:34:00.600
<v Speaker 5>and such resource in that nature, through that, building courts

0:34:00.640 --> 0:34:03.240
<v Speaker 5>in the community, et cetera. That equal putting us know,

0:34:03.320 --> 0:34:05.640
<v Speaker 5>right at the top with them is going to make

0:34:05.680 --> 0:34:08.320
<v Speaker 5>a huge societal difference and really set a playbook for

0:34:08.360 --> 0:34:08.920
<v Speaker 5>other DOULO.

0:34:09.280 --> 0:34:11.520
<v Speaker 2>You have the Seattle Storm, you have you know, the

0:34:11.560 --> 0:34:14.719
<v Speaker 2>Los Angeles Sparks. You have plenty of West Coast WNBA

0:34:14.800 --> 0:34:18.360
<v Speaker 2>franchises that are uber successful. But I'm wondering, you know,

0:34:18.400 --> 0:34:21.040
<v Speaker 2>if you go back to a franchise by the name

0:34:21.040 --> 0:34:23.319
<v Speaker 2>of the Sacramento Monarchs, you know that wasn't you know,

0:34:23.360 --> 0:34:25.960
<v Speaker 2>this isn't the first time we've tried to bring women's

0:34:25.960 --> 0:34:29.479
<v Speaker 2>basketball to northern California. Is there anything to take away

0:34:29.520 --> 0:34:32.800
<v Speaker 2>from that experience, anything to learn from the I guess

0:34:32.800 --> 0:34:37.480
<v Speaker 2>failure of the Sacramento franchise to make it in Northern California?

0:34:37.600 --> 0:34:39.799
<v Speaker 5>To be honest, No, it was such a different time,

0:34:39.840 --> 0:34:42.160
<v Speaker 5>It was a different ownership group, and it was a

0:34:42.160 --> 0:34:45.319
<v Speaker 5>different region. You know, there are some incredible ends that

0:34:45.560 --> 0:34:48.279
<v Speaker 5>organization and kennibly, we hope that they find their way

0:34:48.320 --> 0:34:50.360
<v Speaker 5>to us and become a part of the Valkyrie family.

0:34:50.360 --> 0:34:52.440
<v Speaker 5>We want to be representative of not just the region,

0:34:52.520 --> 0:34:55.680
<v Speaker 5>but you know, everyone who's looking for that WNBA team.

0:34:56.080 --> 0:34:59.359
<v Speaker 5>But it's a really non comparable moment to what we're

0:34:59.360 --> 0:35:02.399
<v Speaker 5>building today. I think the important thing to know is

0:35:02.440 --> 0:35:05.160
<v Speaker 5>that we take our foot off the gas with the

0:35:05.280 --> 0:35:09.680
<v Speaker 5>growthing collectively, and the foot off the gas collectively has

0:35:09.719 --> 0:35:13.560
<v Speaker 5>to come from everyone, from broadcast, from fans, from brands,

0:35:13.680 --> 0:35:18.200
<v Speaker 5>right fans now understand that when you buy merchandise and

0:35:18.320 --> 0:35:20.000
<v Speaker 5>you buy a ticket, when you show up to games,

0:35:20.000 --> 0:35:22.440
<v Speaker 5>when you share on social media accunts, when you follow athletes,

0:35:22.560 --> 0:35:25.680
<v Speaker 5>that's what's driving this forward, and that's what their consumer

0:35:25.719 --> 0:35:28.279
<v Speaker 5>power is being rewarded by these other entities, you know.

0:35:28.440 --> 0:35:30.200
<v Speaker 5>So I think the biggest thing is just making sure

0:35:30.239 --> 0:35:34.320
<v Speaker 5>that continued education of consumers, brands, and media come together

0:35:34.480 --> 0:35:35.440
<v Speaker 5>for the output that we have.

0:35:36.000 --> 0:35:40.759
<v Speaker 1>Toronto will be awarded the league's fourteenth franchise and that

0:35:40.800 --> 0:35:44.920
<v Speaker 1>team will start to play on May twenty twenty six.

0:35:45.800 --> 0:35:48.880
<v Speaker 1>But this isn't going to stop at fourteen. This is

0:35:48.920 --> 0:35:52.239
<v Speaker 1>going to continue to grow, and the divisions are going

0:35:52.280 --> 0:35:56.120
<v Speaker 1>to grow, and then we're going to have the problems

0:35:56.160 --> 0:36:00.200
<v Speaker 1>where everybody's making the playoffs like the NBA because going

0:36:00.239 --> 0:36:02.399
<v Speaker 1>to have so many teams. How long do you see

0:36:02.440 --> 0:36:03.040
<v Speaker 1>that happening?

0:36:03.239 --> 0:36:05.080
<v Speaker 5>What a great problem to have. Yeah, you have so

0:36:05.080 --> 0:36:06.960
<v Speaker 5>many times making the plays, some people wanting to see

0:36:07.000 --> 0:36:10.120
<v Speaker 5>them play in that competitive landscape. Yeah, Kathy, you know,

0:36:10.160 --> 0:36:12.680
<v Speaker 5>the commissioner of the WNBA has done a great job

0:36:12.680 --> 0:36:15.480
<v Speaker 5>of keeping everyone posted as to the league's growth plans.

0:36:15.520 --> 0:36:17.680
<v Speaker 5>And I think what's happening right now that's really special

0:36:17.880 --> 0:36:20.600
<v Speaker 5>is the collaboration that you're seeing between league and the

0:36:20.600 --> 0:36:24.759
<v Speaker 5>players Association and every stakeholder alongside them. And so it's

0:36:24.760 --> 0:36:27.400
<v Speaker 5>a huge opportunity for growth, you know, both an expansion

0:36:27.560 --> 0:36:29.440
<v Speaker 5>and other details like media.

0:36:29.600 --> 0:36:32.279
<v Speaker 1>I have to ask this one last question. The new

0:36:32.360 --> 0:36:34.960
<v Speaker 1>young guns are coming in and big names in the

0:36:35.040 --> 0:36:39.920
<v Speaker 1>WNBA are now retiring. We're at that point now in

0:36:39.960 --> 0:36:42.360
<v Speaker 1>the WNBA where we're flipping the.

0:36:42.360 --> 0:36:46.280
<v Speaker 5>Page absolutely and what you saw happen at the WNBA

0:36:46.440 --> 0:36:48.640
<v Speaker 5>Draft and what you're seeing through this class, it's not

0:36:48.800 --> 0:36:52.280
<v Speaker 5>just Caitlin. It's numerous names that are now household names,

0:36:52.320 --> 0:36:54.799
<v Speaker 5>you know coming into the WNBA. And when you look

0:36:54.840 --> 0:36:57.680
<v Speaker 5>at the trajector of college basketball, that's not going to

0:36:57.719 --> 0:37:00.800
<v Speaker 5>stop anytime soon, if at all. Right, So, the talent

0:37:00.840 --> 0:37:02.879
<v Speaker 5>that's flooding into the league right now, with this star

0:37:03.000 --> 0:37:07.000
<v Speaker 5>power to complement the incredible veterans that have been a

0:37:07.000 --> 0:37:09.799
<v Speaker 5>part of this league for so long, is a really

0:37:09.840 --> 0:37:13.440
<v Speaker 5>powerful moment in some ways, to your point, does feel

0:37:13.719 --> 0:37:15.920
<v Speaker 5>like a change the guard. And I can't wait to

0:37:15.920 --> 0:37:17.640
<v Speaker 5>see what So many of these athletes you know that

0:37:17.719 --> 0:37:19.600
<v Speaker 5>do move on from the league are a part of,

0:37:20.040 --> 0:37:22.439
<v Speaker 5>you know, moving forward from a commercial part you know too.

0:37:22.640 --> 0:37:25.480
<v Speaker 5>But this talent pool, I mean, how many household names

0:37:25.480 --> 0:37:28.200
<v Speaker 5>are also freshmen right? You hear people talk about Hannah

0:37:28.239 --> 0:37:31.520
<v Speaker 5>Hidalgo and Juju Watkins and so forth. I mean that

0:37:31.640 --> 0:37:35.920
<v Speaker 5>level of just knowing women's basketball and then now waiting

0:37:35.960 --> 0:37:38.200
<v Speaker 5>for them to enter the drift world is bringing a

0:37:38.280 --> 0:37:39.560
<v Speaker 5>lot of that consumer attention.

0:37:40.040 --> 0:37:44.960
<v Speaker 1>Jess Smith, President of the Golden State Valkyries, you can

0:37:45.040 --> 0:37:47.000
<v Speaker 1>have that because I'm going to give that to you

0:37:47.239 --> 0:37:48.839
<v Speaker 1>when you want to like play that and you want

0:37:48.880 --> 0:37:52.840
<v Speaker 1>people to walk in the room. WNBA expansion franchise for

0:37:52.960 --> 0:37:56.000
<v Speaker 1>the twenty twenty five season. Jess Smith, thank you so

0:37:56.120 --> 0:37:58.680
<v Speaker 1>much for joining us on the Bloomberg Business of Sports.

0:37:58.960 --> 0:38:01.120
<v Speaker 5>Thank you so much for having me. We're just getting started,

0:38:01.160 --> 0:38:02.359
<v Speaker 5>so look forward to keeping in touch.

0:38:02.520 --> 0:38:05.200
<v Speaker 1>Our special thanks to Jess Smith, President of the Golden

0:38:05.239 --> 0:38:09.560
<v Speaker 1>State Dealkyries. This has been the Bloomberg Business of Sports Show.

0:38:09.920 --> 0:38:12.839
<v Speaker 1>Thank you for tuning in for my colleague Scarlett Foo

0:38:13.280 --> 0:38:16.680
<v Speaker 1>and Damien Sassour. Tuning again next week for the latest

0:38:16.719 --> 0:38:19.600
<v Speaker 1>on the stories moving big money in the world of sports.

0:38:19.800 --> 0:38:23.840
<v Speaker 1>You're listening to Bloomberg Business of Sports from Bloomberg Radio

0:38:24.000 --> 0:38:25.040
<v Speaker 1>around the world.