1 00:00:00,280 --> 00:00:03,800 Speaker 1: This is the business of sports. Should Major League Baseball 2 00:00:04,000 --> 00:00:06,840 Speaker 1: shorten up the season? How do we present football to 3 00:00:06,920 --> 00:00:08,920 Speaker 1: the audience of the future. I don't think that most 4 00:00:08,920 --> 00:00:12,040 Speaker 1: players understand the power that they have. Michael, the future 5 00:00:12,080 --> 00:00:15,920 Speaker 1: of IndyCar racing is looking bright. Scott Sashnik, very basic 6 00:00:15,960 --> 00:00:18,959 Speaker 1: math here, more bidders means more money. Evan Nobody Williams. 7 00:00:18,960 --> 00:00:22,079 Speaker 1: The team value has essentially quadruples. And the leaders in 8 00:00:22,120 --> 00:00:25,480 Speaker 1: the sports industry time to bring in our guest, cal Slimebrunner, 9 00:00:25,600 --> 00:00:29,320 Speaker 1: National Hockey League Commissioner Gary Betman, Atlanta Braves president Derek Schiller, 10 00:00:29,400 --> 00:00:35,479 Speaker 1: Patriots President Jonathan Kraft. Bloomberg Business of Sports from Bloomberg Radio. Hello, 11 00:00:35,520 --> 00:00:38,239 Speaker 1: I'm Michael barn and I'm Scott Sloshnik. Every week at 12 00:00:38,320 --> 00:00:41,720 Speaker 1: this time plus Mondays and Wednesdays and Thursdays, we explore 13 00:00:41,760 --> 00:00:43,559 Speaker 1: the big money issues in the world of sports. On 14 00:00:43,680 --> 00:00:46,400 Speaker 1: this week's show, we have the Chief Revenue Officer of 15 00:00:46,440 --> 00:00:49,720 Speaker 1: the U S T. A Louse Sheer. But first let's 16 00:00:49,720 --> 00:00:53,600 Speaker 1: look at the stories that are topping the week. Oh 17 00:00:53,720 --> 00:00:59,800 Speaker 1: look what's here? It has arrived three letters? And fo 18 00:01:00,120 --> 00:01:02,360 Speaker 1: you doing the bidding? You are just like, wow, you 19 00:01:02,400 --> 00:01:07,959 Speaker 1: are I haven't seen you this excited since never. I 20 00:01:08,040 --> 00:01:09,880 Speaker 1: was gonna say, since you won your fantasy league. But 21 00:01:10,280 --> 00:01:14,840 Speaker 1: that hasn't you know? First of all, I gambled on 22 00:01:14,880 --> 00:01:19,240 Speaker 1: Ezekiel Elliott in an our fantasy league here at Bloomberg. 23 00:01:20,160 --> 00:01:22,280 Speaker 1: I said, was that really a gamble? Did you think 24 00:01:22,280 --> 00:01:25,840 Speaker 1: Ezekiel Elliott was not going to play this seasons a moment? 25 00:01:26,720 --> 00:01:30,320 Speaker 1: Jerry wants to win. Jerry's got the cash. Zeke doesn't 26 00:01:30,319 --> 00:01:33,120 Speaker 1: want to play in the preseason. Zeke wants more money. 27 00:01:33,440 --> 00:01:35,880 Speaker 1: Zeke doesn't want to go to training camp. Guess what, 28 00:01:36,240 --> 00:01:39,119 Speaker 1: everybody gets what they want right now. All I know 29 00:01:39,280 --> 00:01:44,160 Speaker 1: is my top four players in my fantasy league, Levian Bill, 30 00:01:44,400 --> 00:01:47,320 Speaker 1: Ezekiel Elliott picking a Jet in your top four player, 31 00:01:47,360 --> 00:01:50,040 Speaker 1: You're You're like, yeah, not concerned that you know, not 32 00:01:50,160 --> 00:01:58,240 Speaker 1: at all. In fact, I'm gonna I bet you they 33 00:01:58,240 --> 00:02:01,560 Speaker 1: can make the playoffs. All I I don't know enough, 34 00:02:01,760 --> 00:02:04,280 Speaker 1: like you know me, like I care about what's going 35 00:02:04,360 --> 00:02:07,400 Speaker 1: on off the field. I don't pay close enough attention 36 00:02:07,440 --> 00:02:10,240 Speaker 1: to what's going on the field. What's going on on 37 00:02:10,280 --> 00:02:12,040 Speaker 1: the field with these teams. I don't think I can 38 00:02:12,120 --> 00:02:14,400 Speaker 1: name three New York Jets. I know the quarterback darnal. 39 00:02:15,000 --> 00:02:22,720 Speaker 1: I know Levian Bell, like I said, Robby Anderson. Anyway, 40 00:02:23,560 --> 00:02:25,640 Speaker 1: and by the way, this is a two quarterback league. 41 00:02:25,960 --> 00:02:32,600 Speaker 1: Have de Shaun Watson and Bigger Mayfield so Field. But 42 00:02:32,720 --> 00:02:36,560 Speaker 1: I'm trying to get at that ignorant. But we fantasy 43 00:02:36,680 --> 00:02:40,600 Speaker 1: sports is going to boom people and they're expecting boom. 44 00:02:40,600 --> 00:02:42,040 Speaker 1: Why is it going to boom now more than it's 45 00:02:42,080 --> 00:02:45,680 Speaker 1: been Because you couple on now that with gambling that 46 00:02:45,840 --> 00:02:48,919 Speaker 1: is legalized, and here we are with the NFL, You're 47 00:02:48,919 --> 00:02:51,280 Speaker 1: going to see a spike in that happen. This is 48 00:02:51,400 --> 00:02:53,080 Speaker 1: I just think it's going to think I'm just gonna 49 00:02:53,080 --> 00:02:54,960 Speaker 1: bet more and do fantasy less like I can do 50 00:02:55,040 --> 00:02:57,840 Speaker 1: real money every like live betting on everything. Yeah, that's 51 00:02:57,880 --> 00:02:59,520 Speaker 1: what I thought, And then I started thinking about it. 52 00:02:59,520 --> 00:03:01,800 Speaker 1: It's like, well, we make this play and do this here. 53 00:03:01,960 --> 00:03:03,239 Speaker 1: Give me, by the way, give me give me a 54 00:03:03,280 --> 00:03:05,519 Speaker 1: top four now. So you have Levian Bell, Levian Bell, 55 00:03:05,639 --> 00:03:09,359 Speaker 1: Ezekiel Elliott, Shawn Watson, and Baker Mayfield. All right, I 56 00:03:09,480 --> 00:03:12,720 Speaker 1: know Pat Mahomes. I wish I could have gotten you 57 00:03:12,720 --> 00:03:14,760 Speaker 1: couldn't get I have Pat Mahomes in another league. All right, 58 00:03:14,800 --> 00:03:17,160 Speaker 1: I got you. So what we're talking about the NFL 59 00:03:17,200 --> 00:03:19,720 Speaker 1: is back, right, you're excited. I'm like, what are we 60 00:03:19,720 --> 00:03:22,000 Speaker 1: talking about? Yes, the NFL is backed. Lots of people 61 00:03:22,360 --> 00:03:26,239 Speaker 1: going to be excited. Yeah, you've had all the concussion 62 00:03:26,320 --> 00:03:29,720 Speaker 1: the TV ratings that the NFL is a juggernaut. Now 63 00:03:29,800 --> 00:03:33,600 Speaker 1: this leads into a more serious topic involving the NFL 64 00:03:33,680 --> 00:03:37,320 Speaker 1: because there's a prospect for a new NFL labor deal 65 00:03:37,520 --> 00:03:41,720 Speaker 1: and a TV contract. Well, the TV contract is two. 66 00:03:41,760 --> 00:03:44,920 Speaker 1: We've talked about this before and earlier shows that it's 67 00:03:44,960 --> 00:03:47,760 Speaker 1: just such a juggernaut. There's so many bidders, more bidders, 68 00:03:47,800 --> 00:03:51,640 Speaker 1: more money. Boy, there's real reason to be bullish on 69 00:03:51,680 --> 00:03:54,240 Speaker 1: the NFL right now, even with some of the headwinds 70 00:03:54,280 --> 00:03:56,640 Speaker 1: that people have been talking about for years, and that 71 00:03:56,680 --> 00:03:58,880 Speaker 1: could be labor strife. But we'll see what happens here. 72 00:03:58,920 --> 00:04:02,080 Speaker 1: We'll talk about that in a second. And head trauma um, 73 00:04:02,200 --> 00:04:07,080 Speaker 1: and by the way, players walking away early. Also, we'll 74 00:04:07,080 --> 00:04:09,680 Speaker 1: talk about when you when you have guys like Andrew 75 00:04:09,760 --> 00:04:12,560 Speaker 1: Luck just saying you know, I'm not in it anymore. 76 00:04:12,640 --> 00:04:15,360 Speaker 1: My head's not there, my body's beat up, I'm done. 77 00:04:16,040 --> 00:04:18,960 Speaker 1: Nine years old years old, twenty nine years old, that 78 00:04:18,960 --> 00:04:23,240 Speaker 1: I mean, that would concern me number one. Again, if 79 00:04:23,279 --> 00:04:27,080 Speaker 1: I own an NFL team, my number one thing to 80 00:04:27,120 --> 00:04:29,240 Speaker 1: do is get the quarterback that I really believe in. 81 00:04:29,920 --> 00:04:32,480 Speaker 1: And then the number two thing is I make sure 82 00:04:32,520 --> 00:04:35,040 Speaker 1: that at the end of the day his uniform doesn't 83 00:04:35,040 --> 00:04:37,720 Speaker 1: have grass daines on it. Those those are the That's 84 00:04:37,760 --> 00:04:40,040 Speaker 1: how I would build my team. That that means you 85 00:04:40,120 --> 00:04:42,960 Speaker 1: got to have a strong old line. Is you better 86 00:04:43,000 --> 00:04:46,279 Speaker 1: have a dark Yes. Yes, think about the teams who 87 00:04:46,560 --> 00:04:49,000 Speaker 1: get the most games out of their starting quarterbacks versus 88 00:04:49,000 --> 00:04:53,360 Speaker 1: those that don't. I wrote a column years ago, I remember, 89 00:04:53,360 --> 00:04:55,240 Speaker 1: whether it was a Super Bowl or whatever, saying if 90 00:04:55,240 --> 00:04:57,280 Speaker 1: I hadn't watched end of the game, if you blindfolded 91 00:04:57,320 --> 00:04:59,520 Speaker 1: me and then took off the blindfold at the end 92 00:04:59,520 --> 00:05:01,200 Speaker 1: of the game, I could have told you the Patriots 93 00:05:01,240 --> 00:05:03,520 Speaker 1: won because Tom Brady had no grass dings on his 94 00:05:03,680 --> 00:05:08,160 Speaker 1: unifore No, I agree. I get simple. You know it's 95 00:05:07,960 --> 00:05:11,359 Speaker 1: it comes down to simple when with head trauma or 96 00:05:11,520 --> 00:05:13,960 Speaker 1: just simply saving your body. I mean, look at Tony Romo, 97 00:05:14,040 --> 00:05:17,640 Speaker 1: for example, there was a moment where the line broke 98 00:05:17,680 --> 00:05:20,680 Speaker 1: down and I forgot the lineman that came through, and 99 00:05:20,720 --> 00:05:25,880 Speaker 1: I mean nailed Tony Romo broke his collar bone. I mean, 100 00:05:25,960 --> 00:05:30,159 Speaker 1: it was a mess. And that's what happens when you 101 00:05:30,279 --> 00:05:33,800 Speaker 1: have a gap in your old line at your quarterback. 102 00:05:34,080 --> 00:05:36,280 Speaker 1: You can get killed out there. I will say it again, 103 00:05:36,360 --> 00:05:38,280 Speaker 1: Michael bar I've said it before. I will say it 104 00:05:38,320 --> 00:05:41,560 Speaker 1: again to our audience. Most of you have never seen 105 00:05:41,640 --> 00:05:43,360 Speaker 1: an NFL game. And I don't care if you watch 106 00:05:43,400 --> 00:05:45,560 Speaker 1: every Sunday. Don't tell me you've seen an NFL game. 107 00:05:45,920 --> 00:05:50,280 Speaker 1: You have never seen an NFL game unless you have 108 00:05:50,400 --> 00:05:54,880 Speaker 1: watched them from the sideline. You do not understand the 109 00:05:55,000 --> 00:06:00,039 Speaker 1: speed and the force with which these guys play. It 110 00:06:00,120 --> 00:06:05,240 Speaker 1: is a violent, violent collision every minute. And man, when 111 00:06:05,240 --> 00:06:07,560 Speaker 1: it's happening right in front of you, I mean you 112 00:06:07,680 --> 00:06:10,720 Speaker 1: feel it, you see it, you hear it, you feel it. 113 00:06:10,720 --> 00:06:15,360 Speaker 1: It is an insane more to play. Now, let's get 114 00:06:15,400 --> 00:06:17,640 Speaker 1: to this week's interview with Louise Sheer, the chief Revenue 115 00:06:17,680 --> 00:06:21,760 Speaker 1: officer of the US Tennis Association. We always chat with 116 00:06:21,800 --> 00:06:23,560 Speaker 1: you with this time of year, and gee, I can't 117 00:06:23,600 --> 00:06:26,720 Speaker 1: figure out why is there is there something going on 118 00:06:26,800 --> 00:06:30,320 Speaker 1: in tennis in August, late August, September that we should 119 00:06:30,320 --> 00:06:34,240 Speaker 1: be talking about. That seems to be the case, especially 120 00:06:34,279 --> 00:06:37,160 Speaker 1: if you're out in Queen's yes for two weeks. Yeah, 121 00:06:37,200 --> 00:06:40,200 Speaker 1: what I'm hearing my inbox seems to tell me that 122 00:06:40,440 --> 00:06:43,920 Speaker 1: attendance is on pace for a record this year. That's correct, 123 00:06:44,000 --> 00:06:47,120 Speaker 1: we are. We are having a record breaking crowds. Opening 124 00:06:47,160 --> 00:06:49,200 Speaker 1: Day was the biggest we've ever had. We've had the 125 00:06:49,279 --> 00:06:53,159 Speaker 1: largest Labor Day weekend UH we've ever had UM and 126 00:06:53,320 --> 00:06:55,920 Speaker 1: our Fan Week festival the week before the US Open 127 00:06:56,520 --> 00:06:58,880 Speaker 1: UH was a huge success where we opened the grounds 128 00:06:58,880 --> 00:07:01,520 Speaker 1: for free to the public. All of the top players 129 00:07:01,560 --> 00:07:05,440 Speaker 1: are here practicing, qualifying matches are taking place. We had 130 00:07:05,440 --> 00:07:09,000 Speaker 1: three nights of concerts UM, we had Legends exhibitions matches, 131 00:07:09,040 --> 00:07:12,160 Speaker 1: and we drew almost a hundred and twenty thousand people 132 00:07:12,200 --> 00:07:15,760 Speaker 1: that week. I know people are interested in the big 133 00:07:15,840 --> 00:07:18,440 Speaker 1: names and the night matches. This is a big time 134 00:07:18,480 --> 00:07:20,800 Speaker 1: town for a big event kind of thing. I get it. 135 00:07:21,120 --> 00:07:24,720 Speaker 1: You want to see on Ash, Roger Federer, Rafa Nadal, 136 00:07:24,880 --> 00:07:28,720 Speaker 1: I get it. But do do folks know enough about 137 00:07:28,760 --> 00:07:30,840 Speaker 1: that early time when they can come and roam the 138 00:07:30,840 --> 00:07:33,400 Speaker 1: grounds for free and the outer courts and see all 139 00:07:33,400 --> 00:07:37,560 Speaker 1: the qualifying do they know? Do enough people know about that? Well, 140 00:07:37,600 --> 00:07:40,720 Speaker 1: we certainly saw growth this year and we've made big 141 00:07:40,760 --> 00:07:44,680 Speaker 1: investments into that into that week right and initially years 142 00:07:44,680 --> 00:07:48,560 Speaker 1: ago it was just known as the Qualifying Tournament UM, 143 00:07:48,600 --> 00:07:51,680 Speaker 1: but now we've rebranded it the Fan Week Festival. We've 144 00:07:51,760 --> 00:07:54,680 Speaker 1: started to promote the ability to get up close and 145 00:07:54,760 --> 00:07:58,000 Speaker 1: personal with the biggest names in the sport. UM. They 146 00:07:58,000 --> 00:08:01,200 Speaker 1: all do featured practices for US on on our larger 147 00:08:01,240 --> 00:08:04,440 Speaker 1: grand stand court. You can watch Roger practice from twelve 148 00:08:04,480 --> 00:08:07,559 Speaker 1: to two, followed by Serena from from three to five. 149 00:08:07,680 --> 00:08:10,960 Speaker 1: Whatever the case may be. UM. Some of the biggest 150 00:08:11,040 --> 00:08:14,000 Speaker 1: names in the history of the sport, uh Andy Roddick, 151 00:08:14,120 --> 00:08:19,720 Speaker 1: Jim Courier, Martina Navratolova, UM all played John McEnroe, all 152 00:08:19,760 --> 00:08:22,360 Speaker 1: played exhibition matches during that week, So we've tried to 153 00:08:22,440 --> 00:08:26,560 Speaker 1: mix in UM the opportunity to get close with the 154 00:08:26,600 --> 00:08:29,120 Speaker 1: stars when they're more relaxed. It's the week before the 155 00:08:29,160 --> 00:08:32,160 Speaker 1: main draw begins and great tennis happening, because you still 156 00:08:32,200 --> 00:08:34,080 Speaker 1: have some of the best players in the world competing 157 00:08:34,120 --> 00:08:38,040 Speaker 1: to to get into the main draw. I'm always impressed 158 00:08:38,040 --> 00:08:41,440 Speaker 1: with the US Open because, just like Wimbledon, you have 159 00:08:41,760 --> 00:08:45,280 Speaker 1: so many big time celebrities that come see this event. 160 00:08:45,559 --> 00:08:46,960 Speaker 1: You turn your head and all of a sudden, oh, 161 00:08:47,000 --> 00:08:50,480 Speaker 1: my goodness, Look who's here? Uh, can you talk about 162 00:08:50,520 --> 00:08:53,920 Speaker 1: that experience? The US Open. You know what's unique about 163 00:08:53,960 --> 00:08:57,680 Speaker 1: tennis is all of the Grand Slams have different personalities, 164 00:08:58,040 --> 00:09:01,040 Speaker 1: if you will. And UH, and I think here the 165 00:09:01,120 --> 00:09:04,280 Speaker 1: US Open is known as the Spectacular Slam. We're in 166 00:09:04,320 --> 00:09:07,959 Speaker 1: New York, the city that never sleeps UM, the New York. 167 00:09:08,000 --> 00:09:10,320 Speaker 1: The US Open is an event and and we're we're 168 00:09:10,360 --> 00:09:13,839 Speaker 1: fortunate that there's so much demand from uh, celebrities of 169 00:09:13,880 --> 00:09:18,319 Speaker 1: all walks of life, not just Hollywood, music business, UM, 170 00:09:18,320 --> 00:09:21,480 Speaker 1: those sorts of things. And and it's one of the 171 00:09:21,520 --> 00:09:24,840 Speaker 1: things that makes the event electric. UM. And we're thrilled 172 00:09:24,880 --> 00:09:28,440 Speaker 1: that that they come. Uh. We we certainly have to. 173 00:09:28,520 --> 00:09:31,599 Speaker 1: Unfortunately we have more demand than we're able to accommodate. 174 00:09:31,600 --> 00:09:35,559 Speaker 1: But many of them have great relationships with the players themselves. 175 00:09:35,559 --> 00:09:39,400 Speaker 1: The players are global celebrities and travel in in those circles. 176 00:09:39,400 --> 00:09:42,480 Speaker 1: And so you'll see celebs in player boxes, You'll see 177 00:09:42,480 --> 00:09:47,280 Speaker 1: celebrities in courtside seats, You'll see them in sponsor UH locations. UM. 178 00:09:47,360 --> 00:09:50,240 Speaker 1: It's part of the appeal of the event. Who are 179 00:09:50,280 --> 00:09:53,160 Speaker 1: the finance titans that show up? This is Bloomberg after all, 180 00:09:53,160 --> 00:09:55,520 Speaker 1: loom we're chatting with Lou Sheer, chief Revenue Officer of 181 00:09:55,559 --> 00:09:57,240 Speaker 1: the U s t A. Give me some of those 182 00:09:57,240 --> 00:10:01,040 Speaker 1: Wall Street names that frequently show up. Oh, historically we've 183 00:10:01,080 --> 00:10:04,280 Speaker 1: had Bill Gates, We've had many of the bigger hedge 184 00:10:04,280 --> 00:10:08,680 Speaker 1: fund um folks here. Um. You know, our our largest 185 00:10:08,679 --> 00:10:12,199 Speaker 1: sponsors are JP Morgan Chase in American Express and and 186 00:10:12,440 --> 00:10:16,080 Speaker 1: their clientele comes through here as well. Um. There's a huge, 187 00:10:16,160 --> 00:10:19,480 Speaker 1: huge demand for for tickets and many of them it's 188 00:10:19,520 --> 00:10:21,480 Speaker 1: it's fun to see you'll you'll see them online at 189 00:10:21,600 --> 00:10:24,800 Speaker 1: at concessions on the concourse, which is a different experience 190 00:10:24,840 --> 00:10:27,840 Speaker 1: than you would typically see almost anywhere else. Give me 191 00:10:28,120 --> 00:10:35,000 Speaker 1: the experiential differences between let's say, Jamie Diamond and the 192 00:10:35,080 --> 00:10:38,360 Speaker 1: person sitting in the upper deck. I mean high end, 193 00:10:39,480 --> 00:10:44,040 Speaker 1: Michael bark. High end hospitality is very, very popular and 194 00:10:44,080 --> 00:10:48,880 Speaker 1: a big revenue driver in sporting facilities these days. Well, 195 00:10:48,920 --> 00:10:50,920 Speaker 1: it certainly is. It's been a big part of what 196 00:10:51,000 --> 00:10:54,200 Speaker 1: he has driven the growth of the US Open. We're 197 00:10:54,240 --> 00:10:56,840 Speaker 1: fortunate we're here in New York every year. We don't 198 00:10:56,920 --> 00:11:00,320 Speaker 1: travel to different tennis clubs around the country the way 199 00:11:00,320 --> 00:11:03,800 Speaker 1: that golf does. We're able to invest in permanent facilities, 200 00:11:03,840 --> 00:11:08,720 Speaker 1: and we cater to the highest level of premium experience 201 00:11:08,720 --> 00:11:13,120 Speaker 1: that we can possibly deliver. But with that said, understand 202 00:11:13,120 --> 00:11:15,920 Speaker 1: that as an organization we are mission based. We are 203 00:11:15,920 --> 00:11:19,120 Speaker 1: a nonprofit that exists to grow the game of tennis, 204 00:11:19,160 --> 00:11:21,480 Speaker 1: and all of the proceeds off of the US Open 205 00:11:21,600 --> 00:11:24,760 Speaker 1: or invested back at a grassroots level to grow the game. 206 00:11:25,080 --> 00:11:28,520 Speaker 1: One of the key components of that mission is to 207 00:11:28,559 --> 00:11:31,920 Speaker 1: make sure that the U s Open is accessible to everybody. 208 00:11:32,160 --> 00:11:34,520 Speaker 1: So at the at the very very high end, our 209 00:11:34,559 --> 00:11:37,600 Speaker 1: best seats, they're expensive. I want to apologize for the 210 00:11:37,600 --> 00:11:41,320 Speaker 1: fact that they were expensive. What is what's the highest 211 00:11:41,320 --> 00:11:43,800 Speaker 1: price ticket? Give me, give me, give me an it 212 00:11:43,880 --> 00:11:46,800 Speaker 1: made stretch as high as as three three thousand dollars 213 00:11:46,840 --> 00:11:49,720 Speaker 1: for for a courtside seat to the men's or women's final, 214 00:11:49,800 --> 00:11:54,440 Speaker 1: for example. UM having said that UM access is critically 215 00:11:54,480 --> 00:11:57,520 Speaker 1: important so that anybody that might have an opportunity to 216 00:11:57,559 --> 00:12:00,680 Speaker 1: be inspired to want to play, has the opportunity to 217 00:12:00,679 --> 00:12:03,480 Speaker 1: come out here. So the Fan Week experience, which is 218 00:12:03,520 --> 00:12:05,760 Speaker 1: free for the entire week, is one way to do that. 219 00:12:05,960 --> 00:12:08,720 Speaker 1: But you can also get a thirty dollar ticket in 220 00:12:08,840 --> 00:12:12,160 Speaker 1: Arthur ash Stadium and have access to the full grounds 221 00:12:12,200 --> 00:12:15,240 Speaker 1: here with seventeen competition courts and find yourself sitting in 222 00:12:15,280 --> 00:12:18,760 Speaker 1: the front row of of a match that might feature again, 223 00:12:18,840 --> 00:12:21,320 Speaker 1: some of the best players in the world. That balance 224 00:12:21,440 --> 00:12:24,440 Speaker 1: for us is always important. Yes, we want to make 225 00:12:24,440 --> 00:12:28,680 Speaker 1: sure that at the high level we're delivering value at 226 00:12:28,720 --> 00:12:33,160 Speaker 1: a premium level for for those tickets, but providing access 227 00:12:33,200 --> 00:12:35,720 Speaker 1: to anyone who may want to attend is is critical. 228 00:12:35,760 --> 00:12:39,160 Speaker 1: It's it's different than the missions at most other events. 229 00:12:39,200 --> 00:12:42,240 Speaker 1: But but we do that, and we do that intentionally. Now, 230 00:12:42,360 --> 00:12:46,720 Speaker 1: unfortunately for anybody rooting for Naomi Osaka, she is now 231 00:12:46,840 --> 00:12:51,560 Speaker 1: out of the tournament, the defending champion. Uh, but it 232 00:12:51,600 --> 00:12:54,920 Speaker 1: does mean that, hey, we're going to see another champion 233 00:12:55,000 --> 00:12:58,400 Speaker 1: come along for this year. So what is the impact 234 00:12:58,880 --> 00:13:01,440 Speaker 1: when the defending champ be And I'm just curious. Uh. 235 00:13:01,559 --> 00:13:05,200 Speaker 1: In tennis, when the defending champion is out, it doesn't 236 00:13:05,480 --> 00:13:09,160 Speaker 1: really reflect anything on attendance at all. No, no, no. 237 00:13:09,320 --> 00:13:11,200 Speaker 1: In fact, you know, one of the unique things about 238 00:13:11,200 --> 00:13:14,199 Speaker 1: the US Open and most tennis events are fans buy 239 00:13:14,280 --> 00:13:17,960 Speaker 1: tickets not knowing who they're going to see play. Most 240 00:13:18,000 --> 00:13:20,800 Speaker 1: of our tickets are sold well in advance of the 241 00:13:20,840 --> 00:13:23,800 Speaker 1: start of the tournament, and we're not making decisions about 242 00:13:23,840 --> 00:13:28,600 Speaker 1: tomorrow's order of play day session, night session, what courts 243 00:13:28,640 --> 00:13:31,360 Speaker 1: people will play on until the day before, right, because 244 00:13:31,360 --> 00:13:34,720 Speaker 1: it's all predicated on the results from from the previous day, 245 00:13:34,800 --> 00:13:39,600 Speaker 1: so it doesn't impact attendance. Where you see the impact 246 00:13:39,640 --> 00:13:42,960 Speaker 1: of of not necessarily defending champions going on, but some 247 00:13:43,080 --> 00:13:45,840 Speaker 1: of the most popular stars going out. Naomi is certainly 248 00:13:45,880 --> 00:13:50,319 Speaker 1: one of those, are typically on on TV ratings potentially 249 00:13:50,720 --> 00:13:53,400 Speaker 1: lou When we break down the revenue sources you mentioned 250 00:13:53,559 --> 00:13:56,480 Speaker 1: the broadcast rights, You've got your ticket sales. Of course, 251 00:13:56,559 --> 00:13:58,760 Speaker 1: you've got some merchant. By the way, Still to this day, 252 00:13:58,760 --> 00:14:00,559 Speaker 1: what I consider the best item of available is the 253 00:14:00,600 --> 00:14:03,920 Speaker 1: big fuzzy ball. That's I mean, whoever came up with 254 00:14:03,960 --> 00:14:06,200 Speaker 1: that genius? And if people don't what I'm talking about, 255 00:14:06,200 --> 00:14:08,280 Speaker 1: there's just how I'm trying to think. You know, you 256 00:14:08,320 --> 00:14:10,360 Speaker 1: put your arm around it's just a huge tennis ball. 257 00:14:10,800 --> 00:14:13,920 Speaker 1: But but people it's it's a basketball size tennis ball. Yes, 258 00:14:14,200 --> 00:14:15,640 Speaker 1: really seem a little bit bigger. How many of those 259 00:14:15,679 --> 00:14:18,280 Speaker 1: do you sell? Do you know? You know, that's a 260 00:14:18,280 --> 00:14:20,720 Speaker 1: great question. I'd have to guess somewhere in the ballpark 261 00:14:20,800 --> 00:14:25,640 Speaker 1: of is that your most popular item? Would you say, Uh, 262 00:14:25,640 --> 00:14:28,040 Speaker 1: you know, our most popular item is the Great Goose 263 00:14:28,160 --> 00:14:33,200 Speaker 1: Honey Douce cocktail. It's the US Open. We annually sell 264 00:14:33,240 --> 00:14:35,600 Speaker 1: well in access of two hundred thousand of those with 265 00:14:35,680 --> 00:14:39,360 Speaker 1: a collectible cup that lists all of the champions from 266 00:14:39,360 --> 00:14:42,040 Speaker 1: from prior u S Open. Good for you and on 267 00:14:42,120 --> 00:14:44,640 Speaker 1: your background is in or sort of sponsorship. So you 268 00:14:44,680 --> 00:14:47,720 Speaker 1: always mentioned the sponsor the Great Goose. Well done. What 269 00:14:47,840 --> 00:14:52,240 Speaker 1: are sponsors asking you for these days? Uh? The need 270 00:14:52,400 --> 00:14:55,640 Speaker 1: to sort of measure our o I, I think is 271 00:14:55,680 --> 00:14:58,280 Speaker 1: more important for these companies because you know they're going 272 00:14:58,320 --> 00:14:59,880 Speaker 1: to spend that money. They want to know what they're 273 00:15:00,200 --> 00:15:04,160 Speaker 1: for it. Oh absolutely, UM, and the and the asket 274 00:15:04,600 --> 00:15:08,160 Speaker 1: elevated every year. Uh and more specific to each sponsor. 275 00:15:08,240 --> 00:15:11,120 Speaker 1: But but back to your comment about r o I 276 00:15:11,120 --> 00:15:14,120 Speaker 1: important to note that each business looks at our o 277 00:15:14,280 --> 00:15:17,200 Speaker 1: I differently and and it's really more about a return 278 00:15:17,280 --> 00:15:20,560 Speaker 1: on their objective as opposed to a return on on 279 00:15:20,640 --> 00:15:24,000 Speaker 1: the investment that could be uniform across anyone. So we 280 00:15:24,080 --> 00:15:28,000 Speaker 1: have some partners that that UM value the US Open 281 00:15:28,040 --> 00:15:31,120 Speaker 1: because it delivers global visibility. You need to think about 282 00:15:31,240 --> 00:15:33,600 Speaker 1: US more like an Olympic game or a World Cup 283 00:15:33,640 --> 00:15:37,440 Speaker 1: in in soccer because we were televised all throughout the 284 00:15:37,480 --> 00:15:39,800 Speaker 1: world and we have competitors from all over the world. 285 00:15:40,040 --> 00:15:42,440 Speaker 1: So some of our partners are very keen to get 286 00:15:42,480 --> 00:15:46,520 Speaker 1: that signage exposure across the planet. We have others that 287 00:15:46,640 --> 00:15:50,360 Speaker 1: maybe are more focused on corporate entertaining and and and 288 00:15:50,880 --> 00:15:54,760 Speaker 1: hosting high value clients UM to an experience that money 289 00:15:54,760 --> 00:15:57,440 Speaker 1: can't buy, and and and access to tickets that you 290 00:15:57,520 --> 00:16:01,200 Speaker 1: can't get otherwise. And then we have many that are 291 00:16:01,240 --> 00:16:04,800 Speaker 1: invested in engaging with our fans. This year, we we 292 00:16:04,840 --> 00:16:07,040 Speaker 1: are we are projected to hit about eight hundred and 293 00:16:07,040 --> 00:16:10,160 Speaker 1: fifty thousand fans over the course of three weeks. That's 294 00:16:10,200 --> 00:16:13,760 Speaker 1: an NBA season, that's an NFL season. Uh, that's an 295 00:16:13,840 --> 00:16:18,000 Speaker 1: NHL season packed into a three week window. UM And 296 00:16:18,040 --> 00:16:20,320 Speaker 1: our fans when they're on site tend to be here 297 00:16:20,360 --> 00:16:23,480 Speaker 1: for between eight and nine hours. Half of that time 298 00:16:23,520 --> 00:16:26,880 Speaker 1: they're watching tennis. The other half of the time they're dining, shopping, 299 00:16:27,000 --> 00:16:34,480 Speaker 1: or engaging with sponsor activation drinking great goose. So you 300 00:16:34,560 --> 00:16:39,120 Speaker 1: will see lines to get into sponsor activations. You'll see 301 00:16:39,120 --> 00:16:44,520 Speaker 1: sponsors investing heavily in experience promotional experiences on the grounds 302 00:16:44,520 --> 00:16:47,200 Speaker 1: that you typically don't see another arenas where fans are 303 00:16:47,440 --> 00:16:50,120 Speaker 1: rushing from their car to their seat, maybe to the 304 00:16:50,160 --> 00:16:53,080 Speaker 1: concourse or restroom, back to their seat, and then they're out. 305 00:16:53,840 --> 00:16:56,479 Speaker 1: Our fans are here to enjoy the day. It's a festival. 306 00:16:56,800 --> 00:16:59,280 Speaker 1: Tennis is at the core, but it truly is a festival. 307 00:16:59,400 --> 00:17:01,800 Speaker 1: We are chatting with Lucier, chief Revenue Officer of the 308 00:17:01,920 --> 00:17:06,919 Speaker 1: U s t A, and you mentioned someone activations. Correct 309 00:17:06,960 --> 00:17:10,919 Speaker 1: me if I'm wrong. I think it was Mercedes that 310 00:17:10,960 --> 00:17:14,240 Speaker 1: did sort of a serve thing with Sloane Stephens and 311 00:17:14,480 --> 00:17:18,320 Speaker 1: sort of she didn't do that well. Do sponsors ever 312 00:17:18,359 --> 00:17:21,040 Speaker 1: come to you with tales of woe and when all 313 00:17:21,040 --> 00:17:23,639 Speaker 1: their best laid plans don't go quite according to how 314 00:17:23,680 --> 00:17:29,000 Speaker 1: they hoped. You know, occasionally you'll you'll have instances like that. 315 00:17:29,080 --> 00:17:31,879 Speaker 1: In the past, You've had companies that have aligned with 316 00:17:31,920 --> 00:17:34,320 Speaker 1: players who have who have unfortunately been knocked out of 317 00:17:34,320 --> 00:17:37,560 Speaker 1: the uh the tournament early. One of the great things 318 00:17:37,560 --> 00:17:40,919 Speaker 1: about this event, unlike most sporting events, is we have 319 00:17:41,000 --> 00:17:44,080 Speaker 1: a championship here every year. Right, I can't tell you 320 00:17:44,119 --> 00:17:46,119 Speaker 1: who's going to play, but I can tell you that 321 00:17:46,160 --> 00:17:49,880 Speaker 1: there will be a championship, multiple championships played here every year. 322 00:17:49,920 --> 00:17:53,400 Speaker 1: So there is no effectively good season, bad season, those 323 00:17:53,440 --> 00:17:55,560 Speaker 1: sorts of things. But that is one of the risks 324 00:17:55,600 --> 00:17:58,760 Speaker 1: of aligning with an athlete. UM. But I think in 325 00:17:58,920 --> 00:18:02,239 Speaker 1: most cases you're aligning with an athlete because of what 326 00:18:02,320 --> 00:18:06,240 Speaker 1: they represent and their values. It's less about the specific 327 00:18:06,320 --> 00:18:09,080 Speaker 1: performance and results. And if you're leveraging the appeal of 328 00:18:09,119 --> 00:18:12,320 Speaker 1: that athlete, UM, win or lose our fans, at least 329 00:18:12,359 --> 00:18:16,040 Speaker 1: the tennis fans here. No Sloan Stevens are engaged uh 330 00:18:16,080 --> 00:18:20,000 Speaker 1: in in in uh in con tracking her, her results 331 00:18:20,040 --> 00:18:23,199 Speaker 1: and her success and and she's highly likable. Uh And 332 00:18:23,240 --> 00:18:25,959 Speaker 1: the same could be said for for many other endorsers 333 00:18:25,960 --> 00:18:28,840 Speaker 1: in the sport. My thought, I think tennis is more 334 00:18:28,880 --> 00:18:32,720 Speaker 1: popular today than it was thirty years ago. But I'm 335 00:18:32,720 --> 00:18:36,159 Speaker 1: gonna ask your thoughts about it now. It seems to 336 00:18:36,200 --> 00:18:39,760 Speaker 1: be a much more exciting event and more fans. They 337 00:18:39,760 --> 00:18:44,200 Speaker 1: are getting to know the players very well. I would 338 00:18:44,240 --> 00:18:47,720 Speaker 1: say the the US Open certainly has been elevated to 339 00:18:48,080 --> 00:18:51,400 Speaker 1: a much higher place than it was years ago. Uh. 340 00:18:51,640 --> 00:18:55,440 Speaker 1: I think if you looked across the sport globally, anywhere 341 00:18:55,480 --> 00:18:58,159 Speaker 1: you go in the world, tennis is the second or 342 00:18:58,280 --> 00:19:01,040 Speaker 1: third most popular sport that WES would be the one 343 00:19:01,440 --> 00:19:04,280 Speaker 1: outlier there where where you know, you've got football and 344 00:19:04,640 --> 00:19:08,679 Speaker 1: baseball and some others. So the sport has tremendous exposure. 345 00:19:08,720 --> 00:19:11,720 Speaker 1: Now there are more at outlets for content any day 346 00:19:11,720 --> 00:19:14,000 Speaker 1: of the week, there are matches being played there, typically 347 00:19:14,080 --> 00:19:17,800 Speaker 1: played during week days, so you'll see tennis everywhere. Um. 348 00:19:17,840 --> 00:19:19,480 Speaker 1: We still have some work to do here in the 349 00:19:19,560 --> 00:19:23,119 Speaker 1: US to grow participation. Right, We've got an issue and 350 00:19:23,200 --> 00:19:26,960 Speaker 1: epidemic in this country of childhood inactivity. And one of 351 00:19:27,040 --> 00:19:29,320 Speaker 1: the battles that we're trying to fight here at the 352 00:19:29,440 --> 00:19:32,080 Speaker 1: U s t a UH is encouraging more kids to 353 00:19:32,160 --> 00:19:35,959 Speaker 1: be active, healthy, UH and participate in sports. Tennis certainly 354 00:19:36,000 --> 00:19:39,000 Speaker 1: not alone among them, but that's why we exist. The 355 00:19:39,040 --> 00:19:41,560 Speaker 1: other thing that's unique about tennis, and I'd be remiss 356 00:19:41,560 --> 00:19:44,480 Speaker 1: if I didn't mention it, Um, it is the most 357 00:19:44,560 --> 00:19:48,640 Speaker 1: successful dual gender sport in the world. Right, No other 358 00:19:48,720 --> 00:19:52,600 Speaker 1: women's sport has achieved the level of gender equity parody 359 00:19:53,040 --> 00:19:56,040 Speaker 1: that tennis has accomplished. And if you're a young a 360 00:19:56,119 --> 00:19:59,560 Speaker 1: young woman, a girl looking to participate in the sport, right, 361 00:19:59,600 --> 00:20:03,520 Speaker 1: tennis is is an incredibly attractive option amongst the others 362 00:20:03,560 --> 00:20:07,720 Speaker 1: that that are available. We're very proud of that fact. 363 00:20:07,800 --> 00:20:11,480 Speaker 1: And and you see that with the success of young 364 00:20:11,520 --> 00:20:14,960 Speaker 1: American women throughout this tournament and across the history of 365 00:20:14,960 --> 00:20:17,399 Speaker 1: the sport, and you're staying out of the pay gap 366 00:20:17,520 --> 00:20:21,080 Speaker 1: disparity problem. Well, you know here at the US Open, 367 00:20:21,119 --> 00:20:24,240 Speaker 1: we've had equal prize money going back to ninety three. 368 00:20:25,000 --> 00:20:27,240 Speaker 1: And that's a tribute to the impact that Billy jen 369 00:20:27,359 --> 00:20:31,400 Speaker 1: King had on on our sport, had on our culture, 370 00:20:31,960 --> 00:20:35,480 Speaker 1: and is still having having today. Right the venue is 371 00:20:35,480 --> 00:20:38,080 Speaker 1: the Billy jan King National Tennis Center at the celebration 372 00:20:38,119 --> 00:20:44,600 Speaker 1: of of her accomplishments and her her impact on on 373 00:20:44,680 --> 00:20:47,040 Speaker 1: society at large, not just her great great tent. A 374 00:20:47,080 --> 00:20:49,280 Speaker 1: little known fact about Billy jan King when I interviewed 375 00:20:49,280 --> 00:20:50,720 Speaker 1: her several years ago. I don't know if she still 376 00:20:50,800 --> 00:20:54,080 Speaker 1: holds it, but she is a Berkshire Hathaway shareholder, or 377 00:20:54,200 --> 00:20:58,280 Speaker 1: was when I talked to that, right ye, And I 378 00:20:58,320 --> 00:21:01,080 Speaker 1: want to talk about that famous for as as an 379 00:21:01,119 --> 00:21:04,800 Speaker 1: old guy here, I remember very well watching Billy Jene 380 00:21:04,920 --> 00:21:07,600 Speaker 1: King against Bobby Riggs and I will never forget this 381 00:21:07,800 --> 00:21:12,040 Speaker 1: at the Old Astrodome on TV three, The Battle of 382 00:21:12,040 --> 00:21:16,120 Speaker 1: the Sexes and people today, there are many people who 383 00:21:16,160 --> 00:21:19,120 Speaker 1: do not understand the significance of that. Now, they made 384 00:21:19,119 --> 00:21:24,320 Speaker 1: a movie about that later on, but that match alone 385 00:21:25,040 --> 00:21:27,560 Speaker 1: was so huge, and I wish you could help me 386 00:21:27,720 --> 00:21:33,199 Speaker 1: explain that to people who don't remember that well, you know, 387 00:21:33,320 --> 00:21:37,200 Speaker 1: I think I think the most significant thing of that 388 00:21:37,359 --> 00:21:40,119 Speaker 1: about that match in that time is the impact that 389 00:21:40,200 --> 00:21:44,240 Speaker 1: it has had going going forward. Right, tennis would not 390 00:21:44,400 --> 00:21:47,840 Speaker 1: have achieved the level of of of gender equity that 391 00:21:47,920 --> 00:21:52,560 Speaker 1: exists today. UM had it not been for Billy's efforts 392 00:21:53,000 --> 00:21:57,080 Speaker 1: at that time. That was a cultural moment. It transcended sport. UH. 393 00:21:57,119 --> 00:21:59,399 Speaker 1: It had an enormous impact in the moment. But what 394 00:21:59,480 --> 00:22:02,720 Speaker 1: it did provide a foundation that we're now all benefiting 395 00:22:02,800 --> 00:22:07,200 Speaker 1: from across tennis. If you look at women's sports, for example, 396 00:22:07,200 --> 00:22:10,639 Speaker 1: I believe it's nine, possibly ten, of the highest paid 397 00:22:10,680 --> 00:22:14,560 Speaker 1: athletes in sports, our tennis players. If you look at 398 00:22:14,680 --> 00:22:17,560 Speaker 1: the Grand Slams, and certainly the U s Open was first, 399 00:22:17,720 --> 00:22:21,000 Speaker 1: there's equal prize money h for men and women. It's 400 00:22:21,000 --> 00:22:23,400 Speaker 1: one of the few, if only, sporting events where men 401 00:22:23,440 --> 00:22:27,359 Speaker 1: and women compete together. Not only are they competing in 402 00:22:27,440 --> 00:22:29,879 Speaker 1: parallel at the same event, but you also have a 403 00:22:29,920 --> 00:22:33,080 Speaker 1: mixed doubles UH division within the the U s Open 404 00:22:33,240 --> 00:22:35,800 Speaker 1: and I would tell you in in my role as 405 00:22:35,920 --> 00:22:40,159 Speaker 1: as a commercial head for this organization, the fact that 406 00:22:40,200 --> 00:22:43,840 Speaker 1: we are a dual gender event UM is a huge 407 00:22:43,840 --> 00:22:47,920 Speaker 1: part of our commercial success. Men watch women, women watch men. 408 00:22:48,600 --> 00:22:52,560 Speaker 1: UM women bring men, men bring women. TV ratings are comparable, 409 00:22:52,640 --> 00:22:56,200 Speaker 1: or attendance is fifty fifty male female, or viewership is 410 00:22:56,920 --> 00:23:00,919 Speaker 1: male female. It also changes the nature of our event. 411 00:23:01,040 --> 00:23:03,359 Speaker 1: And that's when you come on site and you see 412 00:23:03,560 --> 00:23:06,320 Speaker 1: the fine dining and the shopping and the beverages and 413 00:23:06,400 --> 00:23:09,560 Speaker 1: all of the offerings that are available. That's a reflection 414 00:23:09,600 --> 00:23:12,560 Speaker 1: of who our audience is. It's very different than going 415 00:23:12,600 --> 00:23:15,480 Speaker 1: to a traditional sporting event in the US. Tell me 416 00:23:15,520 --> 00:23:21,400 Speaker 1: what the secondary market tells you about what fans want? Uh? 417 00:23:21,440 --> 00:23:23,439 Speaker 1: You know, we we pay a lot of attention to 418 00:23:23,480 --> 00:23:26,040 Speaker 1: the secondary market. We have an analytics team that is 419 00:23:26,359 --> 00:23:30,480 Speaker 1: tracking movements on the secondary market. It's it's it's very 420 00:23:30,480 --> 00:23:35,399 Speaker 1: indicative of player popularity, it's very indicative of matchups, um 421 00:23:35,440 --> 00:23:39,000 Speaker 1: and interest. As as we start to see people speculating 422 00:23:39,000 --> 00:23:43,680 Speaker 1: about arena moving forward and you will see movement there. UM. 423 00:23:43,680 --> 00:23:48,320 Speaker 1: We don't necessarily participate in that secondary transaction, but it's 424 00:23:48,320 --> 00:23:52,040 Speaker 1: certainly indicative and as we go forward to next year. 425 00:23:52,560 --> 00:23:54,960 Speaker 1: That information is very helpful as we start to think 426 00:23:54,960 --> 00:23:58,320 Speaker 1: about pricing and demand. Uh, it's also very helpful for 427 00:23:58,440 --> 00:24:03,000 Speaker 1: us to determine i think levels for different seats. So overall, 428 00:24:03,680 --> 00:24:05,760 Speaker 1: tell me about the money situation out of this year's 429 00:24:05,880 --> 00:24:09,160 Speaker 1: US Open. You are the chief revenue officer. How's the revenue? Yeah, 430 00:24:09,200 --> 00:24:11,760 Speaker 1: we're We're We're in a very good position this year. 431 00:24:11,760 --> 00:24:15,520 Speaker 1: Our attendance is is historically high. Our our food and 432 00:24:15,560 --> 00:24:18,760 Speaker 1: beverage numbers and our merchandise sales numbers, which are often 433 00:24:18,800 --> 00:24:23,320 Speaker 1: tied to our attendance numbers, is tracking in a in 434 00:24:23,359 --> 00:24:27,040 Speaker 1: a similar fashion. Sponsorship has been has been strong for 435 00:24:27,040 --> 00:24:31,080 Speaker 1: for this year. But as you would suspect, many of 436 00:24:31,119 --> 00:24:36,400 Speaker 1: our revenue sources are tied into long term, multi year contracts. Sponsorship, 437 00:24:36,680 --> 00:24:40,680 Speaker 1: our broadcast deals are are long term, So the variables 438 00:24:40,680 --> 00:24:43,000 Speaker 1: from year to year are really a function of ticketing 439 00:24:43,000 --> 00:24:47,160 Speaker 1: and hospitality sales and then the the sale of food 440 00:24:47,160 --> 00:24:50,479 Speaker 1: and beverage and merch on site. And this year, because 441 00:24:50,480 --> 00:24:54,800 Speaker 1: of the record crowds, because of the strong weather, all 442 00:24:54,840 --> 00:24:57,560 Speaker 1: of that has has sort of conspired to to paint 443 00:24:57,560 --> 00:24:59,639 Speaker 1: a very good picture for us as we move into 444 00:25:00,200 --> 00:25:02,280 Speaker 1: the final days of the event. Is it safe to 445 00:25:02,280 --> 00:25:05,440 Speaker 1: assume that you ladder your sponsorships? How many will come 446 00:25:05,480 --> 00:25:08,880 Speaker 1: do it any one time? Yeah, We're We're very thoughtful 447 00:25:09,000 --> 00:25:11,960 Speaker 1: and intentional in terms of how we line up terms, 448 00:25:12,520 --> 00:25:15,479 Speaker 1: both for our broadcast partnerships and for our sponsorships. Right, 449 00:25:15,520 --> 00:25:18,000 Speaker 1: we never want to have too much risk at any 450 00:25:18,000 --> 00:25:23,080 Speaker 1: particular time, so we try to tier our partnerships. At 451 00:25:23,080 --> 00:25:26,600 Speaker 1: the same time, we're also mindful of categories and where 452 00:25:26,600 --> 00:25:30,120 Speaker 1: there may be opportunities to have a clear shot at 453 00:25:30,160 --> 00:25:33,360 Speaker 1: a category that could be consolidating or or something of 454 00:25:33,520 --> 00:25:35,520 Speaker 1: that nature. So there's there's a lot of thought and 455 00:25:35,560 --> 00:25:40,040 Speaker 1: design that goes into our thoughts about term um and 456 00:25:40,119 --> 00:25:43,320 Speaker 1: that may vary depending on the on the business or 457 00:25:43,400 --> 00:25:46,399 Speaker 1: the category, whether it be broadcast or or sponsorship that 458 00:25:46,480 --> 00:25:51,320 Speaker 1: are typically um built on long term deals. Lu Share, 459 00:25:51,480 --> 00:25:54,399 Speaker 1: Chief revenue Officer for the U S t A. Thank you. 460 00:25:54,400 --> 00:25:56,800 Speaker 1: You're so kind to take time and talk with us. 461 00:25:56,800 --> 00:26:00,640 Speaker 1: We really do appreciate it. I I always enjoy it. Uh. 462 00:26:01,040 --> 00:26:03,240 Speaker 1: It's clear that you're following the event, you're interested in 463 00:26:03,320 --> 00:26:05,880 Speaker 1: the event, and we think that's terrific and we appreciate 464 00:26:05,880 --> 00:26:09,040 Speaker 1: the opportunity to talk. When Lou brought up the nineteen 465 00:26:09,160 --> 00:26:15,680 Speaker 1: seventy three match between Bobby Riggs and Billy Jean King. 466 00:26:15,760 --> 00:26:17,199 Speaker 1: Did he bring it up? Did you bring it up? 467 00:26:17,640 --> 00:26:19,919 Speaker 1: He first, he first brought it up. And then of 468 00:26:19,960 --> 00:26:22,280 Speaker 1: course if you noticed that, my my legs started shaking 469 00:26:22,320 --> 00:26:24,800 Speaker 1: because it's like I remember this, I remember. I'm gonna 470 00:26:25,080 --> 00:26:28,240 Speaker 1: let me tell you how any time we go to 471 00:26:28,280 --> 00:26:32,000 Speaker 1: the seventies, I got this. I got this in color 472 00:26:33,119 --> 00:26:38,879 Speaker 1: from my mother and father. And now I hate to 473 00:26:38,880 --> 00:26:42,200 Speaker 1: say it, I'm sorry. They could have cared less about tennis, 474 00:26:42,720 --> 00:26:46,800 Speaker 1: but they were going to watch this. Were they reading 475 00:26:46,840 --> 00:26:52,120 Speaker 1: for the same I didn't think. No. My mom was like, 476 00:26:52,240 --> 00:26:56,000 Speaker 1: you going and handle your business, and uh to Billy 477 00:26:56,080 --> 00:26:58,880 Speaker 1: Jane King, man is like and she did, might take 478 00:26:58,920 --> 00:27:03,399 Speaker 1: away simple roam those grounds. Man. I love the basketball 479 00:27:03,480 --> 00:27:05,920 Speaker 1: sized tennis ball. I love that thing. You see, kids 480 00:27:05,920 --> 00:27:07,719 Speaker 1: are carrying them everywhere. They take him to the practice 481 00:27:07,720 --> 00:27:10,640 Speaker 1: courts to get him signed. Whoever came up with that idea, 482 00:27:11,080 --> 00:27:13,720 Speaker 1: We gotta find out who whose idea was the big 483 00:27:13,720 --> 00:27:16,480 Speaker 1: fluffy tennis ball. I love it. And then we asked, 484 00:27:16,520 --> 00:27:20,719 Speaker 1: what's the best seller the great Goose? We gotta get 485 00:27:20,760 --> 00:27:23,359 Speaker 1: in Yeah, I could just see you know, all right? 486 00:27:23,440 --> 00:27:25,400 Speaker 1: We got, We got the vodka drinks and the fluffy 487 00:27:25,400 --> 00:27:30,040 Speaker 1: tennis ball. Perfect synopsis of walking the grounds at the US. 488 00:27:31,200 --> 00:27:36,320 Speaker 1: Love it Monros kids. Feels better to be number one 489 00:27:36,359 --> 00:27:38,239 Speaker 1: than number five. I'll wear a number because of Mike. 490 00:27:38,359 --> 00:27:40,120 Speaker 1: We have a chance to go for three in a row. Kids. 491 00:27:40,200 --> 00:27:42,120 Speaker 1: Numbers are a good time. And let's first started wearing 492 00:27:42,119 --> 00:27:45,880 Speaker 1: the number. I would just happy and floomberg. Business of sports, 493 00:27:46,119 --> 00:27:49,240 Speaker 1: the number of the week. Time now for the number 494 00:27:49,320 --> 00:27:51,320 Speaker 1: of the week. Since there's only two of us, there's 495 00:27:51,320 --> 00:27:54,520 Speaker 1: been no sharing it. There's no sharing, so we can guarantee. 496 00:27:54,520 --> 00:27:56,360 Speaker 1: I'll have no idea what you're talking. I'm gonna tell 497 00:27:56,440 --> 00:27:59,160 Speaker 1: I'll give you a hint before you give me the number. 498 00:27:59,160 --> 00:28:00,520 Speaker 1: You can give me the hint want to give you. 499 00:28:00,640 --> 00:28:07,000 Speaker 1: I'm not giving the number first seven seven, Um, George 500 00:28:07,000 --> 00:28:12,520 Speaker 1: Costanza's son's name. But that's a good that you're right, 501 00:28:12,560 --> 00:28:18,440 Speaker 1: But that's not where no, I'll give you a hit. 502 00:28:18,480 --> 00:28:25,680 Speaker 1: It happened Tuesday night and Tuesday night, Tuesday night. I 503 00:28:25,720 --> 00:28:26,960 Speaker 1: can't take up too much time in the show. We 504 00:28:26,960 --> 00:28:30,440 Speaker 1: shoued have Jeopardy theme, so I have no idea. Uh, 505 00:28:30,600 --> 00:28:33,160 Speaker 1: let's put it this way. I've seen the Mets lose 506 00:28:33,320 --> 00:28:35,919 Speaker 1: a lot of games. They gave They gave up a 507 00:28:35,960 --> 00:28:42,600 Speaker 1: bunch lead, right, They had a six run lead at 508 00:28:42,640 --> 00:28:45,840 Speaker 1: the top of the ninth. They played the ninth, get 509 00:28:45,920 --> 00:28:48,120 Speaker 1: to the their at ninth, brother, and we go to 510 00:28:48,120 --> 00:28:52,560 Speaker 1: the bottom against the Washington Nationals, and the Washington Nationals 511 00:28:52,560 --> 00:28:56,440 Speaker 1: score seven runs in the bottom of the knife. We 512 00:28:56,480 --> 00:28:59,120 Speaker 1: didn't even get to like two. You know, we didn't 513 00:28:59,120 --> 00:29:01,080 Speaker 1: talk about. By the way, could be sports business. I'm 514 00:29:01,080 --> 00:29:03,560 Speaker 1: gonna jump in for a second. Peterlonso just he signed 515 00:29:03,560 --> 00:29:06,560 Speaker 1: a deal with the Mets for game Warren memorabilia, first 516 00:29:06,600 --> 00:29:09,360 Speaker 1: one in baseball history, just to deal with the team 517 00:29:09,400 --> 00:29:12,200 Speaker 1: to sell this stuff. I'm surprised it hadn't happened before. 518 00:29:12,240 --> 00:29:14,480 Speaker 1: But anyway, it's it's gonna be. That's a that's a 519 00:29:14,520 --> 00:29:18,080 Speaker 1: good money maker for that sit home runs, it's a 520 00:29:18,080 --> 00:29:19,960 Speaker 1: good minute maker. He hits ten home runs next year, 521 00:29:19,960 --> 00:29:23,120 Speaker 1: nobody's gonna care. That is, by the way, the seven runs. 522 00:29:23,240 --> 00:29:27,760 Speaker 1: That is the biggest comeback in National's history. Just in 523 00:29:28,080 --> 00:29:32,840 Speaker 1: the in the ninth inness that include the expos Just 524 00:29:32,920 --> 00:29:38,000 Speaker 1: ask you, even listening to the Bloomberg Business and Sports, 525 00:29:38,120 --> 00:29:40,880 Speaker 1: why do you bring up the expose Man Nationals exposed 526 00:29:40,880 --> 00:29:43,360 Speaker 1: all time together. I get you, man, you've been listening 527 00:29:43,400 --> 00:29:46,000 Speaker 1: to Bloomberg Business with Sports. We're here each and every 528 00:29:46,000 --> 00:29:48,800 Speaker 1: week at the same time, plus online as an Apple podcast. 529 00:29:49,040 --> 00:29:51,680 Speaker 1: You can catch you that Mondays, Wednesdays and Thursdays. They 530 00:29:51,720 --> 00:29:54,000 Speaker 1: always try to trick us because they put Friday put Friday, 531 00:29:54,040 --> 00:29:56,800 Speaker 1: and I know I'm Michael Barrow on Twitter at Big 532 00:29:56,800 --> 00:29:58,560 Speaker 1: Bar Sports and they left out the tease this week, 533 00:29:58,600 --> 00:30:00,560 Speaker 1: so I'm gonna do it here. It's like I'm Scott Slash. 534 00:30:00,720 --> 00:30:03,440 Speaker 1: You can follow me on Twitter. Thanks for joining us 535 00:30:03,440 --> 00:30:06,520 Speaker 1: in this a period here, but we always say and 536 00:30:06,680 --> 00:30:09,840 Speaker 1: join us right next week when we speak with the 537 00:30:09,840 --> 00:30:12,960 Speaker 1: biggest imprightness in the sports diffin decision. You're listening to 538 00:30:13,040 --> 00:30:16,520 Speaker 1: Bloomberg Business of Sports Bloomberg Radio around the world.