1 00:00:00,720 --> 00:00:04,800 Speaker 1: This is Bloomberg Business of Sports, where in a situation 2 00:00:04,880 --> 00:00:07,440 Speaker 1: that we haven't dealt with in modern times, the pandemic 3 00:00:07,440 --> 00:00:11,280 Speaker 1: here has really accelerated the investments that we've been advocating 4 00:00:11,360 --> 00:00:13,640 Speaker 1: for for a year. From a macro standpoint, I think 5 00:00:13,680 --> 00:00:16,880 Speaker 1: our sport industry is really forced to look at the 6 00:00:17,000 --> 00:00:20,079 Speaker 1: business a little bit differently. In depth conversations with the 7 00:00:20,239 --> 00:00:22,520 Speaker 1: leaders in the sports industry and he sport, there is 8 00:00:22,560 --> 00:00:25,320 Speaker 1: a good admiration were still moving forward part of something 9 00:00:25,400 --> 00:00:27,320 Speaker 1: much bigger than the sports Right now, the health and 10 00:00:27,360 --> 00:00:30,200 Speaker 1: sadustry of our stakeholders are real, smart important every moment. 11 00:00:30,320 --> 00:00:32,680 Speaker 1: I think we're all from a business respective thinking about 12 00:00:32,720 --> 00:00:35,280 Speaker 1: the impact that the virus is having across the country. 13 00:00:35,320 --> 00:00:40,040 Speaker 1: In Bloomberg Business of Sports from Bloomberg Radio, Hi everyone, 14 00:00:40,080 --> 00:00:42,920 Speaker 1: I'm Jason Kelly, and I'm Mike Lynch and I'm Michael 15 00:00:42,920 --> 00:00:45,040 Speaker 1: bar Over the next hour, we will explore the big 16 00:00:45,080 --> 00:00:46,800 Speaker 1: money issues in the world of sports and talked to 17 00:00:46,840 --> 00:00:48,879 Speaker 1: some of the biggest players in the industry. It was 18 00:00:48,880 --> 00:00:51,000 Speaker 1: a busy week, as it always is in the world 19 00:00:51,000 --> 00:00:55,400 Speaker 1: of sports, and especially in that nexus of money and sports. 20 00:00:55,440 --> 00:00:59,880 Speaker 1: I want to start actually with the Washington football team 21 00:01:00,200 --> 00:01:03,880 Speaker 1: keeping their name for now. And Dan Snyder, who I 22 00:01:03,960 --> 00:01:07,400 Speaker 1: have to say, guys, we talked about this last summer 23 00:01:07,440 --> 00:01:11,240 Speaker 1: and everything that was going on with not just the naming, 24 00:01:11,280 --> 00:01:14,240 Speaker 1: but more a lot of the allegations around the work 25 00:01:14,319 --> 00:01:18,080 Speaker 1: culture and sexual harassment. I'm kind of surprised that he's 26 00:01:18,080 --> 00:01:20,800 Speaker 1: still hanging around. Not only is he hanging around, he 27 00:01:21,000 --> 00:01:25,680 Speaker 1: bought out his minority shareholders at a pretty deep discount. 28 00:01:25,840 --> 00:01:31,199 Speaker 1: He is fully in charge now. And Dan Snyder reigned 29 00:01:31,200 --> 00:01:34,000 Speaker 1: Supreme lynch e and I'm not sure we all saw 30 00:01:34,000 --> 00:01:38,000 Speaker 1: that coming. He's Michael Corleone. He's taking care of family business. 31 00:01:39,840 --> 00:01:42,720 Speaker 1: Bank of America was a dissident, Nike was a dissident, 32 00:01:42,760 --> 00:01:45,640 Speaker 1: PEPSI was a dissident, FedEx was a dissident last year 33 00:01:45,680 --> 00:01:47,800 Speaker 1: when they had the name change. They're gonna all be 34 00:01:47,840 --> 00:01:50,280 Speaker 1: gone now, and he's gonna be all by himself. He's 35 00:01:50,320 --> 00:01:53,200 Speaker 1: going to probably make the decision by himself, although he 36 00:01:53,240 --> 00:01:55,040 Speaker 1: says he's going to have some input on what the 37 00:01:55,120 --> 00:01:58,240 Speaker 1: name of the new Washington football team will be. Fortunately, 38 00:01:58,240 --> 00:02:00,360 Speaker 1: he's got a guy like Jason Wright as the team president, 39 00:02:00,800 --> 00:02:03,720 Speaker 1: who who took care of team business. Well, Snyder's taking 40 00:02:03,720 --> 00:02:05,880 Speaker 1: care of family business and had that team in the 41 00:02:05,880 --> 00:02:10,000 Speaker 1: playoffs last year when so many storms were swirling around 42 00:02:10,000 --> 00:02:13,040 Speaker 1: that franchise, they had every excuse in the world not 43 00:02:13,160 --> 00:02:15,520 Speaker 1: to put a good product on the field, and through 44 00:02:15,600 --> 00:02:19,200 Speaker 1: Jason Wright's leadership, they made the playoffs. Michael Barr, I 45 00:02:19,240 --> 00:02:21,880 Speaker 1: do I do want to turn it over to you, 46 00:02:21,960 --> 00:02:24,920 Speaker 1: because you know, we talked about how long it's going 47 00:02:25,000 --> 00:02:27,320 Speaker 1: to take for them to name a team. But you 48 00:02:27,440 --> 00:02:30,200 Speaker 1: brought up when we were talking about this yesterday a 49 00:02:30,320 --> 00:02:32,640 Speaker 1: very good point, which is there's a lot of money 50 00:02:32,720 --> 00:02:35,040 Speaker 1: writing on this decision of what you call the Washington 51 00:02:35,040 --> 00:02:37,920 Speaker 1: football team. Yeah, you're not gonna fool around with this. 52 00:02:37,919 --> 00:02:40,920 Speaker 1: This is gonna be, as they say, run up the 53 00:02:40,960 --> 00:02:46,600 Speaker 1: flagpole in numerous meetings, and once you get that team name, 54 00:02:46,919 --> 00:02:49,680 Speaker 1: there's a lot of money behind it, with the merchandizing. 55 00:02:49,720 --> 00:02:51,480 Speaker 1: They're gonna take their time. But by the way, I 56 00:02:51,480 --> 00:02:54,440 Speaker 1: want to add that Dan Snyder he's paying roughly nine 57 00:02:54,800 --> 00:02:58,760 Speaker 1: million dollars for the minority stakes, So he's the man 58 00:02:58,880 --> 00:03:01,520 Speaker 1: at the dinner table. Man uh switching over, if we 59 00:03:01,600 --> 00:03:06,400 Speaker 1: can briefly to the NHL firing a referee for a 60 00:03:06,480 --> 00:03:09,200 Speaker 1: comment caught on a hot Mike. Let's listen to a 61 00:03:09,200 --> 00:03:12,320 Speaker 1: piece of that. There wasn't months where I wanted to 62 00:03:12,360 --> 00:03:17,280 Speaker 1: get a Nashville earlier. Yeah, so there you go, bleep 63 00:03:17,440 --> 00:03:19,640 Speaker 1: and all Lynch, You what do you make of this? 64 00:03:19,720 --> 00:03:23,560 Speaker 1: I mean, obviously dismissed by by the NHL. Feels like 65 00:03:23,680 --> 00:03:26,680 Speaker 1: he was not doing it. He was making he was 66 00:03:26,720 --> 00:03:30,640 Speaker 1: not sort of calling an honest game necessarily. Uh. You 67 00:03:30,639 --> 00:03:33,440 Speaker 1: you've been a ref ref from Patrick Ewing, which was 68 00:03:33,480 --> 00:03:35,240 Speaker 1: a quick flex that we had a couple of weeks 69 00:03:35,280 --> 00:03:38,200 Speaker 1: ago on this show. What are you making this? Well? 70 00:03:38,240 --> 00:03:40,200 Speaker 1: I think that you know, most of the good officials, 71 00:03:40,200 --> 00:03:42,600 Speaker 1: solid officials, if they blow a call, they'll go over 72 00:03:42,600 --> 00:03:44,280 Speaker 1: to the coach on the bench and just say, look, 73 00:03:44,320 --> 00:03:46,000 Speaker 1: I blew that one. And that way you don't have 74 00:03:46,040 --> 00:03:47,800 Speaker 1: it hanging on your conscience that you have to have 75 00:03:47,840 --> 00:03:50,839 Speaker 1: a make good or even think even things up. So 76 00:03:51,200 --> 00:03:53,240 Speaker 1: you know, Peel made the big mistake right there. But 77 00:03:53,320 --> 00:03:55,400 Speaker 1: you know, the National Hockey League they fired him, which 78 00:03:55,400 --> 00:03:58,240 Speaker 1: was the right thing to do. They're the NBA examined 79 00:03:58,280 --> 00:04:00,160 Speaker 1: all the calls in the last two minutes to try 80 00:04:00,200 --> 00:04:02,160 Speaker 1: to see if there's a pattern of makeups or make 81 00:04:02,200 --> 00:04:05,000 Speaker 1: good calls, and the NHL I think should adopt that 82 00:04:05,080 --> 00:04:07,240 Speaker 1: that same standard. Maybe in the last five minutes of 83 00:04:07,360 --> 00:04:09,800 Speaker 1: crucial times are overtime to see if they were a 84 00:04:09,840 --> 00:04:12,200 Speaker 1: make good or makeup calls. How many times have we 85 00:04:12,200 --> 00:04:14,640 Speaker 1: seen tiki tach calls? And it does make a difference, 86 00:04:14,680 --> 00:04:19,800 Speaker 1: whether it's been in hockey and basketball, whether it's in football. 87 00:04:20,560 --> 00:04:23,680 Speaker 1: We see these calls all the time, and I have 88 00:04:23,760 --> 00:04:27,640 Speaker 1: a different feeling about it, but I agree with you, Lenchi, 89 00:04:28,080 --> 00:04:30,880 Speaker 1: A good ref is a good ref um. Well, later 90 00:04:30,920 --> 00:04:34,400 Speaker 1: on we're gonna talk with the head of Lucas Oil Stadium. 91 00:04:34,440 --> 00:04:38,040 Speaker 1: He is the host in Indianapolis of the whole March 92 00:04:38,080 --> 00:04:41,920 Speaker 1: Madness shebang. On the men's side, the ratings are down 93 00:04:42,000 --> 00:04:45,400 Speaker 1: twelve percent in the first two rounds compared to twenty 94 00:04:45,480 --> 00:04:47,240 Speaker 1: ninet team, which was the last time that there was 95 00:04:47,279 --> 00:04:51,719 Speaker 1: a tournament. Uh, that feels meaningful to me, Lynchy And 96 00:04:51,920 --> 00:04:54,440 Speaker 1: even in a tournament where there has been a lot 97 00:04:54,480 --> 00:04:57,279 Speaker 1: of drama, Well, you can take two schools when you 98 00:04:57,320 --> 00:04:59,760 Speaker 1: want to answer that question. Can no Kentucky, no Duke 99 00:05:00,040 --> 00:05:02,200 Speaker 1: in this tournament? They share so that might be a 100 00:05:02,200 --> 00:05:04,560 Speaker 1: reason for it. And they changed this whole schedule. I 101 00:05:04,600 --> 00:05:06,880 Speaker 1: mean I was ready to you know, get horizontal on 102 00:05:06,960 --> 00:05:10,159 Speaker 1: Thursday and Friday, but it didn't start till Friday, and 103 00:05:10,200 --> 00:05:14,440 Speaker 1: now this weekend instead it's it's Saturday, Sunday, Monday, Tuesday. 104 00:05:14,640 --> 00:05:16,240 Speaker 1: So I think that's a little bit that has to 105 00:05:16,279 --> 00:05:18,040 Speaker 1: do with it. But it's like everything. I mean, the 106 00:05:18,080 --> 00:05:20,520 Speaker 1: World Series were down, the NBA Finals were down. It's 107 00:05:20,600 --> 00:05:23,160 Speaker 1: just different without fans, without the bands. I mean, this 108 00:05:23,240 --> 00:05:25,880 Speaker 1: is I call it the greatest show on Earth, the madness, 109 00:05:25,920 --> 00:05:28,279 Speaker 1: March Madness, and I think missing those fans and the 110 00:05:28,600 --> 00:05:31,800 Speaker 1: and the bands and that that passion, that element. But 111 00:05:31,880 --> 00:05:35,400 Speaker 1: he still had those Cinderella stories. You know, you still 112 00:05:35,800 --> 00:05:38,960 Speaker 1: world Roberts has the Cinderella story that was going. I 113 00:05:38,960 --> 00:05:42,880 Speaker 1: mean it was it's exciting to see a team it's 114 00:05:43,440 --> 00:05:45,840 Speaker 1: I'm not making fun of or Roberts, but it would 115 00:05:45,839 --> 00:05:50,599 Speaker 1: be like if Mayberry made it to the Final four. Yeah, yeah, exactly. 116 00:05:50,640 --> 00:05:54,720 Speaker 1: All right. Um, Well, speaking of how we watch games, uh, 117 00:05:54,760 --> 00:05:58,200 Speaker 1: and we talked last week about the big NFL contract 118 00:05:58,200 --> 00:06:01,360 Speaker 1: and the fact that Amazon is to own Thursday Night 119 00:06:01,400 --> 00:06:04,520 Speaker 1: when it comes to the NFL. Well, your New York Yankees, 120 00:06:04,680 --> 00:06:09,280 Speaker 1: not yours, Lynch, are going to stream twenty one games 121 00:06:09,320 --> 00:06:12,720 Speaker 1: on Amazon Prime this year. Listen, Baseball needs to catch 122 00:06:12,800 --> 00:06:15,560 Speaker 1: up in some ways. And if that's how we're going 123 00:06:15,600 --> 00:06:18,479 Speaker 1: to see the Yankees, then so be it. And it'll 124 00:06:18,520 --> 00:06:21,120 Speaker 1: be interesting to see what the uptake is. I do 125 00:06:21,320 --> 00:06:25,280 Speaker 1: think that consumption is changing, for sure. You know, I 126 00:06:25,400 --> 00:06:29,120 Speaker 1: count myself among the cord cutters, and I've managed to 127 00:06:29,160 --> 00:06:31,880 Speaker 1: watch a lot of sports, good to see baseball kind 128 00:06:31,880 --> 00:06:34,239 Speaker 1: of kind of getting with it well. Earlier this week, 129 00:06:34,480 --> 00:06:36,800 Speaker 1: we caught up with author Devin Gordon. He's got a 130 00:06:36,839 --> 00:06:39,320 Speaker 1: new book. It's called So Many Ways to Lose, The 131 00:06:39,360 --> 00:06:42,440 Speaker 1: amazing true story of the New York Mets, the best 132 00:06:42,760 --> 00:06:47,080 Speaker 1: worst team in sports. He talked about the shrewd business 133 00:06:47,080 --> 00:06:49,640 Speaker 1: move Fred Wilpon made in purchasing the Mets, how the 134 00:06:49,680 --> 00:06:52,240 Speaker 1: business of baseball is starting to slope downward, and before 135 00:06:52,240 --> 00:06:56,320 Speaker 1: we hear a little bit from Devon directly, Guys, I 136 00:06:56,360 --> 00:06:59,440 Speaker 1: was so taken with this book, and candidly very taken 137 00:06:59,720 --> 00:07:04,000 Speaker 1: with Devon because he is such a passionate Mets fan, 138 00:07:04,240 --> 00:07:07,719 Speaker 1: but incredibly self aware. As I guess you have to 139 00:07:07,800 --> 00:07:12,040 Speaker 1: be lynchy if you have devoted yourself to a team that, 140 00:07:12,160 --> 00:07:15,640 Speaker 1: as he says, is really really good at losing. You know, 141 00:07:15,720 --> 00:07:18,280 Speaker 1: I think the runner up in case the Mets cannot 142 00:07:18,320 --> 00:07:20,800 Speaker 1: fulfill their obligation than their duties would go to the 143 00:07:20,880 --> 00:07:24,400 Speaker 1: Boston Red Sox with that's a you know, miss America thing. 144 00:07:24,440 --> 00:07:27,040 Speaker 1: At the end, I always wonder why is losing more 145 00:07:27,120 --> 00:07:30,480 Speaker 1: fun than winning? And because it gives you a lot 146 00:07:30,480 --> 00:07:33,240 Speaker 1: of fodder to to write and to talk about. And 147 00:07:33,240 --> 00:07:36,400 Speaker 1: the Mets certainly have given everyone that's a Mets fan 148 00:07:37,080 --> 00:07:39,520 Speaker 1: a lot of that fodder. They come so close, they 149 00:07:39,560 --> 00:07:43,320 Speaker 1: break your heart, and they're fun, they're fun to watch. 150 00:07:43,600 --> 00:07:45,760 Speaker 1: Losing well, I don't think we're going to hear this 151 00:07:45,840 --> 00:07:48,880 Speaker 1: part of the conversation, but I would commend you to 152 00:07:48,960 --> 00:07:53,520 Speaker 1: listen to the whole thing because the lack of pity 153 00:07:53,600 --> 00:07:57,280 Speaker 1: and the lack of sympathy that Devin Gordon has for 154 00:07:57,400 --> 00:08:00,320 Speaker 1: Red Sox fans is notable. And he has a guy 155 00:08:00,360 --> 00:08:03,120 Speaker 1: who can see that. He lives in the Boston area now, 156 00:08:03,200 --> 00:08:06,200 Speaker 1: so he sees it. He sees it up close and personal. 157 00:08:06,400 --> 00:08:08,360 Speaker 1: But you know, Lincha brings up a really good point 158 00:08:08,400 --> 00:08:10,800 Speaker 1: bar and and this came up in the interview as well. 159 00:08:11,120 --> 00:08:15,520 Speaker 1: You know that you as a Detroit Tigers fan, especially um, 160 00:08:15,600 --> 00:08:19,200 Speaker 1: you know you feel the feel the pain as well. 161 00:08:19,320 --> 00:08:25,560 Speaker 1: There is some camaraderie that comes from sort of suffering 162 00:08:25,600 --> 00:08:29,720 Speaker 1: through these seasons with a with a hapless franchise. Yeah, 163 00:08:29,760 --> 00:08:32,199 Speaker 1: it's a lot of pepto bismol sold in my house man, 164 00:08:32,440 --> 00:08:34,960 Speaker 1: because you have to deal with it. If you're going 165 00:08:35,000 --> 00:08:37,280 Speaker 1: to be a Tigers fan, if you're gonna be a 166 00:08:37,320 --> 00:08:40,760 Speaker 1: Lions fan, you gotta be all in. And that's why 167 00:08:40,880 --> 00:08:43,880 Speaker 1: I have always said that Detroit fans are some of 168 00:08:43,920 --> 00:08:46,959 Speaker 1: the best fans ever, because for a lot of times 169 00:08:46,960 --> 00:08:49,520 Speaker 1: we know this season is going to go south. But 170 00:08:49,600 --> 00:08:53,040 Speaker 1: at least Devin brought the point out that there are 171 00:08:53,040 --> 00:08:55,160 Speaker 1: a lot of teams that are in the same boat 172 00:08:55,280 --> 00:08:59,360 Speaker 1: as the Mets, and there is some brotherhood I guess 173 00:08:59,360 --> 00:09:02,120 Speaker 1: if you want to call of that of something like 174 00:09:02,160 --> 00:09:04,160 Speaker 1: that going on, and like you said, lend you even 175 00:09:05,000 --> 00:09:07,760 Speaker 1: before you guys went off on a tear, you guys 176 00:09:08,000 --> 00:09:12,680 Speaker 1: were you guys were having some problems and it was scary. Well, 177 00:09:12,800 --> 00:09:16,320 Speaker 1: I do want to point out something that's very important 178 00:09:16,440 --> 00:09:20,559 Speaker 1: and very relevant to this show, which is even these franchises. 179 00:09:20,640 --> 00:09:23,000 Speaker 1: The Red Sox are a great example. The Mets are 180 00:09:23,040 --> 00:09:26,360 Speaker 1: clearly a great example with their recent sale to Stephen Cohen. 181 00:09:26,600 --> 00:09:31,000 Speaker 1: These are incredibly valuable franchises. Now there's a big argument 182 00:09:31,000 --> 00:09:34,119 Speaker 1: to be made about where they play being as important 183 00:09:34,640 --> 00:09:36,960 Speaker 1: as it is whether it's New York or Boston or 184 00:09:37,000 --> 00:09:40,480 Speaker 1: some of these major market teams. We know the value 185 00:09:40,880 --> 00:09:44,320 Speaker 1: of the broadcast revenue. We were reminded of that, uh, 186 00:09:44,400 --> 00:09:47,400 Speaker 1: just a couple of weeks ago with the NFL how 187 00:09:47,440 --> 00:09:51,720 Speaker 1: important uh that is, And that was very much on 188 00:09:51,880 --> 00:09:54,560 Speaker 1: the mind. Maybe not on everybody's mind, but that was 189 00:09:54,640 --> 00:09:58,000 Speaker 1: definitely on the mind of Fred Wilpon when he did 190 00:09:58,080 --> 00:10:00,439 Speaker 1: buy the team back in the seventies. Check Out what 191 00:10:00,520 --> 00:10:03,000 Speaker 1: Devin Gordon had to say. You're hitting on an interesting point. 192 00:10:03,040 --> 00:10:06,240 Speaker 1: And that's one of the things that um I like 193 00:10:06,320 --> 00:10:09,360 Speaker 1: to do in the book is just in general and 194 00:10:09,440 --> 00:10:13,800 Speaker 1: telling stories, is to try to complicated case, not take 195 00:10:13,840 --> 00:10:17,240 Speaker 1: the counterintuitive or argue. For instance, in this case, little 196 00:10:17,240 --> 00:10:20,400 Speaker 1: Ponds were actually you know, geniuses and great owners because 197 00:10:20,400 --> 00:10:23,400 Speaker 1: they weren't. They are what we think they were. But 198 00:10:23,679 --> 00:10:27,679 Speaker 1: the telling of it gets richer, which is Fred Willpon 199 00:10:28,240 --> 00:10:30,760 Speaker 1: in the late seventies was one of the few people 200 00:10:30,880 --> 00:10:35,000 Speaker 1: in New York City who was like, there's one National 201 00:10:35,040 --> 00:10:38,440 Speaker 1: League Baseball team in New York City right now, and 202 00:10:38,440 --> 00:10:41,000 Speaker 1: in fifty years there's only going to be one National 203 00:10:41,040 --> 00:10:44,199 Speaker 1: League baseball team in New York City. That's really valuable. 204 00:10:44,679 --> 00:10:46,559 Speaker 1: And anybody in New York City at that time who 205 00:10:46,559 --> 00:10:49,319 Speaker 1: had money could have had this insight. But he had it, 206 00:10:50,080 --> 00:10:52,200 Speaker 1: and they bought the team for twenty one million dollars, 207 00:10:52,920 --> 00:10:55,160 Speaker 1: and of that twenty one million dollars, he managed to 208 00:10:55,200 --> 00:10:58,559 Speaker 1: become the controlling partner of the team despite putting in 209 00:10:58,640 --> 00:11:02,319 Speaker 1: only three hundred thousand dollars of his own line. Starting 210 00:11:02,360 --> 00:11:04,800 Speaker 1: to think Fred Wilpon might have been onto something right. 211 00:11:05,320 --> 00:11:11,760 Speaker 1: And and so when we tell these histories, his insight 212 00:11:12,600 --> 00:11:15,800 Speaker 1: that this would be a hugely valuable thing, surely even 213 00:11:15,800 --> 00:11:19,520 Speaker 1: more valuable than he probably ever reckoned echoes into. Right now, 214 00:11:19,760 --> 00:11:22,600 Speaker 1: there's only one National League Baseball team in New York City. 215 00:11:22,840 --> 00:11:25,000 Speaker 1: It is a very valuable thing, and it will be 216 00:11:25,000 --> 00:11:27,040 Speaker 1: a very valuable thing for fifty years, for as long 217 00:11:27,080 --> 00:11:30,480 Speaker 1: as we play baseball. And but on the flip side, 218 00:11:30,520 --> 00:11:33,400 Speaker 1: the idea that that the Billions that Stephen Cohen represents 219 00:11:33,520 --> 00:11:36,679 Speaker 1: is going to come to our rescue and turn us 220 00:11:36,720 --> 00:11:40,920 Speaker 1: from the Mets into the Yankees, that's just an adorable thought. 221 00:11:41,040 --> 00:11:44,920 Speaker 1: I mean, that's just adorable. You know, Like, no way 222 00:11:45,000 --> 00:11:46,920 Speaker 1: have you been paying attention to this old spring training. 223 00:11:47,160 --> 00:11:50,440 Speaker 1: I mean, come on, yeah, and you know, there are 224 00:11:50,480 --> 00:11:52,800 Speaker 1: some things about it that are not necessarily bad. There 225 00:11:52,880 --> 00:11:57,360 Speaker 1: is something really nice and romantic about being that invested 226 00:11:57,920 --> 00:12:03,440 Speaker 1: in your home team. And it's fine because other sports 227 00:12:03,440 --> 00:12:06,679 Speaker 1: are another way. That's fine. The NBA is not that way. 228 00:12:07,080 --> 00:12:09,400 Speaker 1: You know, football has kind of gone almost in a 229 00:12:10,200 --> 00:12:12,959 Speaker 1: flip where you know, like you're saying, you have your 230 00:12:12,960 --> 00:12:15,440 Speaker 1: home game and then you'd have a national game, and 231 00:12:15,440 --> 00:12:18,000 Speaker 1: it was always the same teams, right, you know, the 232 00:12:18,040 --> 00:12:21,559 Speaker 1: Bucks were never on the national game. UM. But now 233 00:12:22,000 --> 00:12:24,760 Speaker 1: the NFL we all watch everything, right, you're either going 234 00:12:24,760 --> 00:12:28,200 Speaker 1: to a bar or you're watching the red zone, um, 235 00:12:28,720 --> 00:12:33,679 Speaker 1: and you watch every game. Um. In fact, I think 236 00:12:33,720 --> 00:12:36,559 Speaker 1: I saw some data from Axios that was really interesting. 237 00:12:36,600 --> 00:12:40,480 Speaker 1: It said something about how, um, NFL fans, you know, 238 00:12:40,800 --> 00:12:43,480 Speaker 1: really do watch all the games for the most part, 239 00:12:43,520 --> 00:12:47,880 Speaker 1: whereas MLB fans and NBA fans enjoy highlights more than 240 00:12:47,920 --> 00:12:50,679 Speaker 1: the actual game. And that was Devin Gordon, author of 241 00:12:50,720 --> 00:12:52,920 Speaker 1: the new book So Many Ways to Lose, the Amazing 242 00:12:52,960 --> 00:12:55,520 Speaker 1: true story of the New York Mets, the best worst 243 00:12:55,600 --> 00:12:58,400 Speaker 1: team in sports. Check out the entire conversation we had 244 00:12:58,400 --> 00:13:01,240 Speaker 1: with him. It was a lot of fun a terrific book, 245 00:13:01,640 --> 00:13:04,760 Speaker 1: not just for the Mets fan in your life, God 246 00:13:04,760 --> 00:13:08,640 Speaker 1: bless him, but for anybody who really wants to understand 247 00:13:09,440 --> 00:13:12,000 Speaker 1: what it is to be a fan. But also he 248 00:13:12,080 --> 00:13:14,160 Speaker 1: really does get into and he got into with us, 249 00:13:14,200 --> 00:13:16,320 Speaker 1: and in the book some of the economics, some of 250 00:13:16,320 --> 00:13:20,240 Speaker 1: the business decisions that were made. Of course, anyone who's 251 00:13:20,240 --> 00:13:23,160 Speaker 1: followed the Mets knows that the association with Bernie made 252 00:13:23,200 --> 00:13:28,199 Speaker 1: off in his family, that the Wilpon family had obviously 253 00:13:28,360 --> 00:13:32,440 Speaker 1: devastated the economics of the team and led to the 254 00:13:32,480 --> 00:13:35,680 Speaker 1: sale to Stevie Cohen. He also talks about um what 255 00:13:35,760 --> 00:13:41,960 Speaker 1: we may expect from the new owner, cautiously optimistic, I believe, well, 256 00:13:42,000 --> 00:13:43,840 Speaker 1: I'm sure Devin Gordon is going to burn all those 257 00:13:43,880 --> 00:13:49,680 Speaker 1: issues of Sports Illustrators because that big face of Francisco 258 00:13:49,760 --> 00:13:53,440 Speaker 1: Lindor is just irresistible for anybody who believes in the 259 00:13:53,480 --> 00:13:57,400 Speaker 1: jinks of Sports Illustrated. Absolutely, we'll check out that entire conversation. 260 00:13:57,440 --> 00:14:01,240 Speaker 1: It's on our podcast feed. Let's get into a conversation 261 00:14:01,360 --> 00:14:05,480 Speaker 1: with Eric new Burger, a very very timely conversation because 262 00:14:05,800 --> 00:14:09,600 Speaker 1: he's the Lucas Oil Stadium director at the center of 263 00:14:09,720 --> 00:14:14,400 Speaker 1: all of it. In Indianapolis. March Madness has one address, essentially, 264 00:14:14,840 --> 00:14:18,040 Speaker 1: and it's Indianapolis. Eric. Really nice to have you with us. 265 00:14:18,480 --> 00:14:20,800 Speaker 1: Thank you so much for having me. All Right, so 266 00:14:20,880 --> 00:14:24,760 Speaker 1: you understand the business of sports as well as anyone 267 00:14:24,880 --> 00:14:26,960 Speaker 1: from the college level. From the sports level. We'll talk 268 00:14:26,960 --> 00:14:29,680 Speaker 1: about college maybe a little bit later on in your 269 00:14:29,720 --> 00:14:34,640 Speaker 1: experience at at IU, but tell us about the mechanics 270 00:14:34,880 --> 00:14:38,440 Speaker 1: and and some of the economics of this year, because 271 00:14:38,840 --> 00:14:43,480 Speaker 1: this is not what people are used to with March Madness. Yeah, 272 00:14:43,520 --> 00:14:46,240 Speaker 1: it's really unique in almost every way other than when 273 00:14:46,280 --> 00:14:49,000 Speaker 1: you watch the Sun TV. Hopefully you have the experience 274 00:14:49,000 --> 00:14:52,200 Speaker 1: you're accustomed to. But we've been working for several months, 275 00:14:52,240 --> 00:14:54,720 Speaker 1: which is a much shorter time period than you would 276 00:14:54,720 --> 00:14:57,440 Speaker 1: normally have for an event of this scale, to put 277 00:14:57,480 --> 00:15:01,840 Speaker 1: together a product at folks at home will really enjoy 278 00:15:01,920 --> 00:15:04,960 Speaker 1: and that the teams traveling to Indianapolis can have a 279 00:15:05,040 --> 00:15:10,360 Speaker 1: terrific experience participating in Never Stadium was able to keep 280 00:15:10,400 --> 00:15:15,280 Speaker 1: all of its employees and staff, uh during this COVID era. 281 00:15:16,480 --> 00:15:20,560 Speaker 1: How did you guys do it? Did? Yeah? You know, 282 00:15:20,640 --> 00:15:24,240 Speaker 1: we we we really were largely successful at that. You know, 283 00:15:24,360 --> 00:15:29,440 Speaker 1: back back in March when all of this was going down. Um, 284 00:15:29,640 --> 00:15:32,680 Speaker 1: in retrospect, it could have either been foolish or smart. 285 00:15:32,840 --> 00:15:35,520 Speaker 1: But what what we decided to do was to try 286 00:15:35,560 --> 00:15:37,560 Speaker 1: to smooth out the ups and downs that we thought 287 00:15:37,560 --> 00:15:40,040 Speaker 1: we were going to be expecting. So we did make 288 00:15:40,120 --> 00:15:45,040 Speaker 1: some uh some some changes and furloughs and temporary furloughs 289 00:15:45,080 --> 00:15:47,760 Speaker 1: that took place on a week to week basis, with 290 00:15:47,880 --> 00:15:50,240 Speaker 1: the idea that if we could keep our talent and 291 00:15:50,280 --> 00:15:53,400 Speaker 1: our team together, that we would be among the first 292 00:15:53,440 --> 00:15:56,600 Speaker 1: to be back to be able to take advantage of 293 00:15:56,640 --> 00:15:59,920 Speaker 1: the economics that that might present itself when we're through 294 00:16:00,040 --> 00:16:02,920 Speaker 1: this pandemic. Take me through some of the logistics. So 295 00:16:02,960 --> 00:16:05,360 Speaker 1: you're gonna have twenty five thousand for the final four 296 00:16:05,720 --> 00:16:10,080 Speaker 1: in a seventy basically seventy stadium. The seats I I 297 00:16:10,120 --> 00:16:13,040 Speaker 1: assume are clearly marked. Do you have to fully staff 298 00:16:13,120 --> 00:16:16,600 Speaker 1: that entire arena? I'm talking like every concession stand? Um, 299 00:16:17,280 --> 00:16:19,200 Speaker 1: do people have to go up the aisle in the 300 00:16:19,240 --> 00:16:21,720 Speaker 1: section they came in and use that concession stand or 301 00:16:21,760 --> 00:16:24,440 Speaker 1: that merchandise stand, or they allowed to walk around freely 302 00:16:24,480 --> 00:16:27,000 Speaker 1: in the concourse. Well, really, what we've got going on 303 00:16:27,160 --> 00:16:30,400 Speaker 1: is two venues in one. So there's a curtain that 304 00:16:30,440 --> 00:16:32,800 Speaker 1: divides the building at about the fifty yard line and 305 00:16:33,160 --> 00:16:35,920 Speaker 1: really you cannot cross from one to the other. But 306 00:16:36,280 --> 00:16:40,600 Speaker 1: within that we have about capacity of those seats that 307 00:16:40,640 --> 00:16:44,160 Speaker 1: have a view of each particular court, and what happens 308 00:16:44,200 --> 00:16:46,840 Speaker 1: there is we really wanted to make sure that every 309 00:16:47,320 --> 00:16:51,280 Speaker 1: pod of either two or four or six people presumably 310 00:16:51,280 --> 00:16:53,880 Speaker 1: of the same household or at least six ft apart. 311 00:16:53,960 --> 00:16:57,080 Speaker 1: So that's what really drove our capacity number. But yes, 312 00:16:57,160 --> 00:16:59,200 Speaker 1: what we do then is we try to make sure 313 00:16:59,240 --> 00:17:04,240 Speaker 1: that we have more than enough concessions, restrooms, all those 314 00:17:04,280 --> 00:17:07,800 Speaker 1: types of amenities available for everybody that's coming to the event. 315 00:17:08,200 --> 00:17:12,119 Speaker 1: And so Eric help us understand economic impact from the 316 00:17:12,440 --> 00:17:16,000 Speaker 1: broader city perspective. I think you understand this intimately. You 317 00:17:16,040 --> 00:17:19,119 Speaker 1: know what it's like when it's sort of game one 318 00:17:19,200 --> 00:17:22,399 Speaker 1: in a full, non pandemic way. You do have people 319 00:17:22,440 --> 00:17:25,640 Speaker 1: coming in. You obviously have more teams, You've had more 320 00:17:25,680 --> 00:17:28,440 Speaker 1: teams than than you would normally have, but but obviously 321 00:17:28,440 --> 00:17:31,280 Speaker 1: not the spectators. So how does that all kind of 322 00:17:31,320 --> 00:17:35,600 Speaker 1: balance out for the local community economically? Yeah, well, much 323 00:17:35,640 --> 00:17:37,960 Speaker 1: of it remains to be seen, but what we're betting 324 00:17:38,000 --> 00:17:42,199 Speaker 1: on is that there will be significant travel into the 325 00:17:42,240 --> 00:17:46,560 Speaker 1: city UM, staying at our hotels, taking in our restaurants, 326 00:17:46,800 --> 00:17:50,160 Speaker 1: and enjoying the games at all the facilities. The way 327 00:17:50,160 --> 00:17:53,400 Speaker 1: it works in Indianapolis is we have a great community 328 00:17:53,400 --> 00:17:55,720 Speaker 1: partnership and have led by our state and our city 329 00:17:55,760 --> 00:17:58,800 Speaker 1: governments as well as the Indiana Sports Corporation, which is 330 00:17:58,800 --> 00:18:03,439 Speaker 1: our local sports commission, and we are a tourism driven city. 331 00:18:03,680 --> 00:18:09,080 Speaker 1: UM conventions and sports are are would make the whole 332 00:18:09,160 --> 00:18:13,880 Speaker 1: downtown area work, and we think that we're the favorite 333 00:18:13,880 --> 00:18:18,159 Speaker 1: of so many of these UM sports entities because everything 334 00:18:18,200 --> 00:18:20,640 Speaker 1: is so accessible to one another. So what we're really 335 00:18:20,680 --> 00:18:24,119 Speaker 1: hoping is that with the teams, the hotels really getting 336 00:18:24,119 --> 00:18:26,920 Speaker 1: this jump start back, that will be prepared to host 337 00:18:26,960 --> 00:18:30,480 Speaker 1: all of the other events that are on our schedule 338 00:18:30,520 --> 00:18:32,280 Speaker 1: for the rest of the year, and it will help 339 00:18:32,359 --> 00:18:35,480 Speaker 1: us recruit other events for the future. That includes also 340 00:18:35,600 --> 00:18:39,960 Speaker 1: football obviously, because during the fall season hopefully will be 341 00:18:40,560 --> 00:18:44,760 Speaker 1: back to some normalcy and you can pack all seventy 342 00:18:45,160 --> 00:18:48,560 Speaker 1: people at Lucas Oil Field. Yeah, we're really optimistic that 343 00:18:48,640 --> 00:18:50,920 Speaker 1: there will be a time here in the future that 344 00:18:50,920 --> 00:18:55,439 Speaker 1: that UM because everybody has accessibility to the vaccine and 345 00:18:55,480 --> 00:18:58,040 Speaker 1: everybody has learned a lot about keeping each other safe 346 00:18:58,560 --> 00:19:01,040 Speaker 1: that we'll be able to have a much more robust 347 00:19:01,040 --> 00:19:05,600 Speaker 1: crowd presence this fall. So Eric, you know, help us 348 00:19:05,680 --> 00:19:10,879 Speaker 1: understand where it does go from here in terms of 349 00:19:11,800 --> 00:19:15,720 Speaker 1: what some of the the the economics and what some 350 00:19:15,880 --> 00:19:19,560 Speaker 1: of the logistics are in the in this near to 351 00:19:19,840 --> 00:19:22,960 Speaker 1: to mid term. What you change, what you've learned about 352 00:19:23,040 --> 00:19:28,240 Speaker 1: running a stadium more safely, more efficiently from the experience 353 00:19:28,440 --> 00:19:32,880 Speaker 1: of navigating this pandemic. Yeah, well, some of the initial 354 00:19:32,960 --> 00:19:36,840 Speaker 1: changes that we made. We're going to exclusively digital tickets. 355 00:19:37,800 --> 00:19:41,359 Speaker 1: We also went to contactless payment system so that we 356 00:19:41,440 --> 00:19:44,320 Speaker 1: don't we know onger except cash at Lucas Oil Stadium. 357 00:19:44,440 --> 00:19:47,200 Speaker 1: So we have machines that folks who have cast can 358 00:19:47,200 --> 00:19:50,639 Speaker 1: turn it into a card and that reduces the contact 359 00:19:50,680 --> 00:19:53,840 Speaker 1: points and hopefully reduces the spread of the virus. We've 360 00:19:53,880 --> 00:19:56,879 Speaker 1: also um, we really believe in masks. We know that 361 00:19:56,920 --> 00:19:59,840 Speaker 1: the science tells us that that mask wearing will help 362 00:20:00,600 --> 00:20:03,480 Speaker 1: keep our events safe, and so we enforced that very 363 00:20:03,520 --> 00:20:06,280 Speaker 1: stringently and have a lot of signage, a lot of 364 00:20:06,320 --> 00:20:08,280 Speaker 1: guidance on where to walk, and then of course we 365 00:20:08,400 --> 00:20:11,440 Speaker 1: zip tie any seats that are not part of the 366 00:20:11,480 --> 00:20:14,600 Speaker 1: ticketing manifest to make sure that folks aren't crowding together. 367 00:20:15,080 --> 00:20:19,440 Speaker 1: Lucas Oil Stadium officially open to the public in two 368 00:20:19,480 --> 00:20:25,760 Speaker 1: thousand eight, and it has a contract with Lucas Oil obviously, uh. 369 00:20:25,800 --> 00:20:28,840 Speaker 1: And but that is going to wrap up soon. Is 370 00:20:28,840 --> 00:20:32,280 Speaker 1: going to wrap up? Uh in a few years. Have 371 00:20:32,440 --> 00:20:35,840 Speaker 1: you had any plans to talk to Lucas Oil about 372 00:20:35,920 --> 00:20:41,159 Speaker 1: coming back. So, the stadium enjoys a thirty five year 373 00:20:41,280 --> 00:20:43,639 Speaker 1: lease with Indianapolis Colts, and as part of that, the 374 00:20:43,720 --> 00:20:48,359 Speaker 1: Indianapolis Colts themselves actually negotiate the naming rights for the stadium, 375 00:20:48,400 --> 00:20:50,840 Speaker 1: and I know they're working hard. I know everybody really 376 00:20:50,880 --> 00:20:55,679 Speaker 1: enjoys our relationship with Lucas Oil Products and hopeful that 377 00:20:55,680 --> 00:21:00,639 Speaker 1: that can continue beyond that contract. Eric, Is the ticket 378 00:21:00,640 --> 00:21:04,000 Speaker 1: packages normally, uh, you have to buy the whole package 379 00:21:04,000 --> 00:21:07,080 Speaker 1: Saturday at the semifinals in the Final four night? Uh? 380 00:21:07,160 --> 00:21:09,840 Speaker 1: Is this the same out there tonight this weekend, in 381 00:21:09,880 --> 00:21:13,240 Speaker 1: the following weekend coming up for Final four? The way 382 00:21:13,240 --> 00:21:17,399 Speaker 1: you described, it's accurate for all these other Elite Eight games, 383 00:21:17,400 --> 00:21:19,160 Speaker 1: and for the first and second round games that we've 384 00:21:19,200 --> 00:21:23,199 Speaker 1: already hosted, each game was ticketed individually, which was a 385 00:21:23,280 --> 00:21:28,840 Speaker 1: departure from how they typically done. The ticketing for March Madness, 386 00:21:30,840 --> 00:21:33,159 Speaker 1: So Eric, I want to broaden the conversation a little bit, 387 00:21:33,200 --> 00:21:35,240 Speaker 1: talk a little bit more about college basketball. You know 388 00:21:35,280 --> 00:21:39,199 Speaker 1: it intimately Listen if if you're from Indiana, it's in 389 00:21:39,280 --> 00:21:41,959 Speaker 1: your blood. I mean, there's a there's a darn movie 390 00:21:42,240 --> 00:21:44,720 Speaker 1: um that's all about sort of high school basketball and 391 00:21:44,800 --> 00:21:47,800 Speaker 1: then into the college level. It's legend area across all 392 00:21:48,400 --> 00:21:52,359 Speaker 1: all aspects of the game. March Madness obviously is vitally 393 00:21:52,359 --> 00:21:54,639 Speaker 1: important to the n c Double A. What do you 394 00:21:54,680 --> 00:21:58,560 Speaker 1: think has changed about college basketball through this? What have 395 00:21:58,640 --> 00:22:02,480 Speaker 1: we learned and and what we learned about the tournament 396 00:22:03,240 --> 00:22:05,960 Speaker 1: having done it this way, that that may affect how 397 00:22:06,000 --> 00:22:10,920 Speaker 1: we think about March Mannett is going forward? College basketball, 398 00:22:11,280 --> 00:22:15,240 Speaker 1: in basketball in Indiana their ubiquitous right, and what we 399 00:22:15,400 --> 00:22:19,040 Speaker 1: what we think that we've learned here is that that 400 00:22:19,119 --> 00:22:22,480 Speaker 1: there's a lot of benefit doing things in in a 401 00:22:22,640 --> 00:22:24,960 Speaker 1: in a particular city. There's a lot of efficiencies that 402 00:22:24,960 --> 00:22:27,440 Speaker 1: could be had. In fact, we were able to bring 403 00:22:27,440 --> 00:22:31,360 Speaker 1: the Big Ten Basketball Tournament a month after the the 404 00:22:31,480 --> 00:22:35,240 Speaker 1: n c A Tournament was announced to Indianapolis for some 405 00:22:35,320 --> 00:22:39,760 Speaker 1: of those very reasons. I think college basketball remains one 406 00:22:39,840 --> 00:22:44,160 Speaker 1: of the iconic sports in our country in Indianapolis being 407 00:22:44,200 --> 00:22:47,000 Speaker 1: the center of it all. Um, we're just glad to 408 00:22:47,040 --> 00:22:51,240 Speaker 1: be taken part in that. At one time, you worked 409 00:22:51,280 --> 00:22:58,000 Speaker 1: at the Indiana University Athletics department. What was that experience like? Uh? 410 00:22:58,280 --> 00:23:00,760 Speaker 1: Truly one of the best ten years of my life. 411 00:23:00,800 --> 00:23:03,760 Speaker 1: I was Indiana University alumnus and worked in the department 412 00:23:03,800 --> 00:23:06,240 Speaker 1: as a student and was able to come back about 413 00:23:06,240 --> 00:23:08,840 Speaker 1: five years after that and worked for the next ten 414 00:23:08,920 --> 00:23:12,040 Speaker 1: years ultimately as a senior associate athletic director there with 415 00:23:12,440 --> 00:23:14,920 Speaker 1: a lot of responsibilities throughout the department. It's really a 416 00:23:15,000 --> 00:23:16,960 Speaker 1: dream come true and something I never thought that I 417 00:23:17,000 --> 00:23:20,040 Speaker 1: would ever leave until this opportunity at Lucas Oil Stadium 418 00:23:20,440 --> 00:23:24,920 Speaker 1: presented itself to me about four years ago. So, Eric, 419 00:23:25,200 --> 00:23:27,159 Speaker 1: this is Mike Lynch up in Boston, and you know 420 00:23:27,200 --> 00:23:29,760 Speaker 1: what this question is going. We've got Brad Stevens, the 421 00:23:29,800 --> 00:23:32,560 Speaker 1: coach of the Celtics, and I know that there have 422 00:23:32,640 --> 00:23:35,719 Speaker 1: been whispers in his ear come back home to Indiana. 423 00:23:36,680 --> 00:23:39,520 Speaker 1: Uh would would would you like to make a rush 424 00:23:39,800 --> 00:23:42,119 Speaker 1: run to Brad Stephen's full court press to try to 425 00:23:42,119 --> 00:23:46,000 Speaker 1: get him to come back. Speaking from a personal opinion, 426 00:23:46,000 --> 00:23:49,040 Speaker 1: I love Brad Stephens made such an impact on this tournament. 427 00:23:49,520 --> 00:23:52,640 Speaker 1: And I know Scott Dolson so well. He's he's one 428 00:23:52,680 --> 00:23:56,240 Speaker 1: of the best people in this industry and and I 429 00:23:56,280 --> 00:23:59,000 Speaker 1: have no inside information on that, unfortunately, but I know 430 00:23:59,080 --> 00:24:03,800 Speaker 1: that he'll make a one full decision. And so Eric, 431 00:24:03,880 --> 00:24:06,919 Speaker 1: you know, talking about the pro level a little bit, 432 00:24:06,960 --> 00:24:10,240 Speaker 1: help us understand the business of the NFL right now 433 00:24:10,320 --> 00:24:14,879 Speaker 1: as well, because obviously it is it remains the big 434 00:24:14,920 --> 00:24:18,120 Speaker 1: sport in the United States. And anybody who has any 435 00:24:18,160 --> 00:24:21,080 Speaker 1: doubts just look at that big TV contract that was 436 00:24:21,119 --> 00:24:26,000 Speaker 1: just signed across all the networks including uh Amazon. What 437 00:24:26,200 --> 00:24:30,879 Speaker 1: do you think about the upcoming season? What was learned? Uh? 438 00:24:31,000 --> 00:24:32,960 Speaker 1: Sort of similar to what we were talking about earlier 439 00:24:32,960 --> 00:24:36,480 Speaker 1: about college basketball, Like what did the NFL learn about 440 00:24:36,520 --> 00:24:40,160 Speaker 1: executing its games and fans and interacting with them that 441 00:24:40,240 --> 00:24:43,840 Speaker 1: you think will will move forward and maybe be especially 442 00:24:43,880 --> 00:24:47,679 Speaker 1: prevalent this coming season, the twenty one season. Yeah, I 443 00:24:47,680 --> 00:24:50,639 Speaker 1: think we're gonna continue to see adjustments being made because 444 00:24:50,680 --> 00:24:54,200 Speaker 1: of the pandemic this season. I am optimistic that will 445 00:24:54,240 --> 00:24:58,360 Speaker 1: have more folks um in the buildings and have more 446 00:24:58,480 --> 00:25:00,920 Speaker 1: fan engagement and things like that that we weren't able 447 00:25:00,920 --> 00:25:03,440 Speaker 1: to do this year. For instance, there was no cheerleaders 448 00:25:03,480 --> 00:25:07,080 Speaker 1: on the field, there was no in game promotions, just 449 00:25:07,119 --> 00:25:09,639 Speaker 1: because we're trying to keep everybody safe. So I'm hopeful 450 00:25:09,680 --> 00:25:12,679 Speaker 1: that some of these things will squeak back into the 451 00:25:12,720 --> 00:25:17,680 Speaker 1: into the mix this year. There's uh certainly a gigantic 452 00:25:17,760 --> 00:25:20,800 Speaker 1: appetite for football in this country, and I think it 453 00:25:20,840 --> 00:25:23,119 Speaker 1: was a huge success that the NFL was able to 454 00:25:23,200 --> 00:25:27,360 Speaker 1: complete a season so successfully this year. If I can 455 00:25:27,359 --> 00:25:29,480 Speaker 1: follow up on that, I mean, I do wonder about, 456 00:25:29,960 --> 00:25:33,800 Speaker 1: you know, sponsors who rely so much on in game 457 00:25:34,160 --> 00:25:38,600 Speaker 1: signage and in stadium UH signage. Were there renegotiations that 458 00:25:38,680 --> 00:25:41,960 Speaker 1: had to happen from a stadium perspective and from or 459 00:25:42,080 --> 00:25:44,280 Speaker 1: is that handled by the teams by you guys? Like, 460 00:25:44,520 --> 00:25:46,840 Speaker 1: how does that all break down in terms of the 461 00:25:47,320 --> 00:25:52,240 Speaker 1: economic sort of ecosystem, especially around the NFL. Yeah, you 462 00:25:52,280 --> 00:25:55,520 Speaker 1: know in Indianapolis, UM, it may be a little different 463 00:25:55,520 --> 00:25:59,840 Speaker 1: than in other cities, but the team themselves handles the sponsorships. 464 00:26:00,119 --> 00:26:02,640 Speaker 1: I do know that we worked hard with our partners 465 00:26:02,640 --> 00:26:04,719 Speaker 1: there to make sure that we could keep everybody as 466 00:26:04,760 --> 00:26:08,760 Speaker 1: happy as possible, and frankly, everybody was very understanding of 467 00:26:08,800 --> 00:26:12,040 Speaker 1: the circumstances that we've that we've all found ourselves in 468 00:26:12,119 --> 00:26:14,840 Speaker 1: and we're hopeful that that it was a short lived 469 00:26:14,840 --> 00:26:18,679 Speaker 1: in the long run. What's it like in Indianapolis Because 470 00:26:18,720 --> 00:26:22,160 Speaker 1: you are the city in Indiana because not only obviously 471 00:26:22,240 --> 00:26:25,159 Speaker 1: that Lucas Oil Field where you have the colts, but 472 00:26:25,240 --> 00:26:29,440 Speaker 1: it's also the home to the Indianapolis five And if 473 00:26:29,480 --> 00:26:32,960 Speaker 1: if things go as according to plan, uh, people are 474 00:26:33,000 --> 00:26:37,200 Speaker 1: going to come back, like you said earlier, and the 475 00:26:37,280 --> 00:26:40,320 Speaker 1: attraction for tourists to come into the city is going 476 00:26:40,359 --> 00:26:43,199 Speaker 1: to be off the hook. Can you tell us what 477 00:26:43,320 --> 00:26:46,119 Speaker 1: it's like and how the impact is going for you 478 00:26:46,200 --> 00:26:49,760 Speaker 1: now and what do you expect to see in the future. Well, 479 00:26:49,960 --> 00:26:52,480 Speaker 1: I do know that the Indianapolis Motor Speedway is about 480 00:26:52,520 --> 00:26:57,080 Speaker 1: to embark on a sixteen day vaccination effort for for 481 00:26:57,200 --> 00:27:00,560 Speaker 1: the entire state, so we're hopeful of that's just the 482 00:27:00,600 --> 00:27:03,840 Speaker 1: beginning of a lot of visitors to the speedway there. 483 00:27:03,880 --> 00:27:07,760 Speaker 1: It's a big part of our economic activity in Indianapolis 484 00:27:07,840 --> 00:27:11,359 Speaker 1: and getting people into hotels Indianapolis is great though. The 485 00:27:12,320 --> 00:27:15,600 Speaker 1: nice thing about it is everybody works together, from our 486 00:27:15,640 --> 00:27:18,760 Speaker 1: mayor to our governor, to the sports commissions, to our 487 00:27:18,920 --> 00:27:22,240 Speaker 1: Dimension and Visitors Bureau. Everybody's got the same goal in mind, 488 00:27:22,280 --> 00:27:25,439 Speaker 1: and we're kind of a city where if somebody asks 489 00:27:25,600 --> 00:27:27,720 Speaker 1: can we do something, we say yes, and then we 490 00:27:27,760 --> 00:27:29,919 Speaker 1: figure it out. And that's been kind of our m 491 00:27:29,960 --> 00:27:33,600 Speaker 1: O directly, that's how we've gotten ourselves into the position 492 00:27:33,640 --> 00:27:38,639 Speaker 1: of hosting this magnificent tournament. Eric, I want to get 493 00:27:38,640 --> 00:27:40,840 Speaker 1: back to sponsorships, and I know you said the individual 494 00:27:40,880 --> 00:27:43,480 Speaker 1: teams usually handle them, but we talked to Randy Levine 495 00:27:43,480 --> 00:27:45,480 Speaker 1: of the Yankees. He said that, you know, a lot 496 00:27:45,520 --> 00:27:49,879 Speaker 1: of his big sponsors were just financially devastated by the 497 00:27:49,880 --> 00:27:52,560 Speaker 1: pandemic and couldn't come back and re up. Have you 498 00:27:52,600 --> 00:27:55,000 Speaker 1: found that the same out in Indianapolis that they're finding 499 00:27:55,000 --> 00:27:59,400 Speaker 1: in New York. Well, I don't have any inside information 500 00:27:59,480 --> 00:28:02,120 Speaker 1: on any particular contracts, but I do know that it's 501 00:28:02,160 --> 00:28:06,280 Speaker 1: been challenging, and in so many of the sponsors depend 502 00:28:06,400 --> 00:28:09,439 Speaker 1: on actually interacting with people, whether it's within the venue 503 00:28:09,520 --> 00:28:12,640 Speaker 1: or outside the venue at their some of their own 504 00:28:12,640 --> 00:28:17,199 Speaker 1: stores in retail establishments. So I do think that it 505 00:28:17,280 --> 00:28:21,119 Speaker 1: was painful this year, and the longer this goes, the 506 00:28:21,160 --> 00:28:26,120 Speaker 1: harder it will be to maintain the traditional models of sponsorship. Eric, 507 00:28:26,320 --> 00:28:28,280 Speaker 1: It's really been a pleasure speaking with you Thank you 508 00:28:28,359 --> 00:28:32,399 Speaker 1: so much. Eric Newburger is Lucas Oil Stadiums Director at 509 00:28:32,440 --> 00:28:35,720 Speaker 1: the center of the action as we wind down, or 510 00:28:35,760 --> 00:28:39,840 Speaker 1: at least get further and further into a very very 511 00:28:39,880 --> 00:28:44,120 Speaker 1: different March Madness host the Final four, so check that out. Obviously, 512 00:28:44,880 --> 00:28:48,920 Speaker 1: who knows who's going to be there when the dance concludes. Eric, 513 00:28:48,960 --> 00:28:52,400 Speaker 1: thank you so much, Thank you so much for having me. Well, guys, 514 00:28:52,440 --> 00:28:55,440 Speaker 1: really interesting to get the perspective of somebody who's in 515 00:28:55,520 --> 00:28:59,000 Speaker 1: charge of the building. Uh, that is literally the center 516 00:28:59,240 --> 00:29:03,320 Speaker 1: of March Madness this year. You know, I think he 517 00:29:03,840 --> 00:29:08,640 Speaker 1: essentially alluded to it in my takeaway is this turned 518 00:29:08,680 --> 00:29:13,040 Speaker 1: out pretty well for Indianapolis, and I feel like going forward, 519 00:29:13,400 --> 00:29:17,719 Speaker 1: this is a real solid kind of line, maybe more 520 00:29:17,760 --> 00:29:21,440 Speaker 1: than a line on the city of Indianapolis resume, assuming 521 00:29:21,480 --> 00:29:25,240 Speaker 1: that we see a healthy conclusion as it were, to 522 00:29:25,240 --> 00:29:27,680 Speaker 1: to March Madness through the final four. You know, we 523 00:29:27,720 --> 00:29:31,000 Speaker 1: obviously had one team Virginia Commonwealth, who who had to 524 00:29:31,240 --> 00:29:34,080 Speaker 1: come out of the tournament. But generally speaking, it's all 525 00:29:34,080 --> 00:29:36,280 Speaker 1: gone pretty well. And I will say from my perspective 526 00:29:36,280 --> 00:29:39,960 Speaker 1: as a fan and as a consumer, the product coming 527 00:29:39,960 --> 00:29:42,640 Speaker 1: through the TV, which which is really the most important 528 00:29:42,680 --> 00:29:47,720 Speaker 1: thing has been great. Lynching it has and uh, if 529 00:29:47,720 --> 00:29:50,040 Speaker 1: a personal note, I've been to eleven Super Bowls with 530 00:29:50,120 --> 00:29:52,479 Speaker 1: the Patriots and three of them have been in New 531 00:29:52,600 --> 00:29:55,520 Speaker 1: Orleans and one of them was in Indianapolis, and I 532 00:29:55,520 --> 00:29:58,520 Speaker 1: would rank it as one of my favorite places to 533 00:29:58,520 --> 00:30:00,600 Speaker 1: host a Super Bowl because they know to host big 534 00:30:00,640 --> 00:30:04,120 Speaker 1: sporting events that the fire. Every year, there's always some 535 00:30:04,200 --> 00:30:08,120 Speaker 1: type of amateur athletic championship going on. Being a cheerleading 536 00:30:08,160 --> 00:30:11,520 Speaker 1: of gymnastics, and most cities, I mean, every city that 537 00:30:11,560 --> 00:30:14,840 Speaker 1: gets awarded a Final four his years to prepare. They 538 00:30:14,880 --> 00:30:17,840 Speaker 1: had a few months and they're they're as well equipped 539 00:30:17,880 --> 00:30:20,000 Speaker 1: as any city in this country to host it. And 540 00:30:20,040 --> 00:30:23,680 Speaker 1: that's that's because experience matters when it comes to putting 541 00:30:23,680 --> 00:30:26,000 Speaker 1: on events like this. Well and bar not just hosting 542 00:30:26,000 --> 00:30:29,040 Speaker 1: a Final four, hosting you know this, the city hosted 543 00:30:29,440 --> 00:30:32,280 Speaker 1: the whole dang thing, you know, in terms of you know, 544 00:30:32,360 --> 00:30:35,000 Speaker 1: having to have all the teams there. You know, I 545 00:30:35,080 --> 00:30:38,640 Speaker 1: do wonder and and he hinted at this that you 546 00:30:38,920 --> 00:30:41,520 Speaker 1: you wonder if the n C Double A and and 547 00:30:41,720 --> 00:30:45,600 Speaker 1: other uh types of big sporting events. Say you know what, 548 00:30:45,960 --> 00:30:48,720 Speaker 1: maybe in addition to the Final Four, maybe we do 549 00:30:48,800 --> 00:30:52,800 Speaker 1: the weekend before and in one place as well. I mean, listen, 550 00:30:52,840 --> 00:30:55,840 Speaker 1: I know, we love, you know, all the regional games, 551 00:30:55,880 --> 00:30:59,080 Speaker 1: and and all of us, either professionally or personally have 552 00:30:59,240 --> 00:31:02,600 Speaker 1: taken fun trips and road trips to various regions. I 553 00:31:02,640 --> 00:31:06,440 Speaker 1: remember um way back in the day during the Allen 554 00:31:06,480 --> 00:31:08,800 Speaker 1: iverson days of Georgetown, you know, taking a road trip 555 00:31:08,840 --> 00:31:12,720 Speaker 1: from Washington down to Birmingham to to see the Hoyas 556 00:31:12,760 --> 00:31:15,440 Speaker 1: play in in the region down there. And and that's 557 00:31:15,440 --> 00:31:19,200 Speaker 1: a fun part of the tournament, But the economics and 558 00:31:19,520 --> 00:31:23,080 Speaker 1: the logistics of it, you know, do change the equation. Well, 559 00:31:23,120 --> 00:31:26,920 Speaker 1: if you are a school in the tournament, it makes 560 00:31:27,120 --> 00:31:30,160 Speaker 1: big sense just to play in the state. There were 561 00:31:30,440 --> 00:31:35,800 Speaker 1: six venues altogether for March Madness, and obviously Lucas Oil Stadium, 562 00:31:35,800 --> 00:31:37,960 Speaker 1: and there were five others. It makes a lot of 563 00:31:38,000 --> 00:31:40,600 Speaker 1: sense just to keep it all in one state. I 564 00:31:40,600 --> 00:31:43,080 Speaker 1: think that's going to be the model from this point forward. 565 00:31:43,760 --> 00:31:45,920 Speaker 1: I do wonder about don't you wonder about that, Lynchie? 566 00:31:45,960 --> 00:31:47,760 Speaker 1: If if the n C double A is like you 567 00:31:47,800 --> 00:31:51,200 Speaker 1: know what, guys, has actually worked pretty well. Now, I'm 568 00:31:51,200 --> 00:31:53,600 Speaker 1: not sure that there are there are probably only a 569 00:31:53,640 --> 00:31:55,680 Speaker 1: small handful of cities who could pull that off in 570 00:31:55,800 --> 00:31:59,160 Speaker 1: terms of the sheer number of venues you would you 571 00:31:59,160 --> 00:32:01,800 Speaker 1: would have to have, But they're probably six or six 572 00:32:01,880 --> 00:32:03,560 Speaker 1: or eight cities I would think around the country you 573 00:32:03,600 --> 00:32:04,960 Speaker 1: could do. What I mean, it's sort of like putting 574 00:32:04,960 --> 00:32:08,520 Speaker 1: on the Olympics over the course of a couple of weeks. Well, 575 00:32:08,560 --> 00:32:09,920 Speaker 1: you have to think about a city that has a 576 00:32:09,960 --> 00:32:13,360 Speaker 1: lot of arenas or gymnasiums, like like Boston, for example, 577 00:32:13,400 --> 00:32:17,160 Speaker 1: You've got to Harvard, you get Boston, University of Boston, College, Northeastern, 578 00:32:17,400 --> 00:32:20,200 Speaker 1: you've got the garden Um, you know, the place, like 579 00:32:20,240 --> 00:32:24,280 Speaker 1: Los Angeles, Chicago. But I think it's gonna be tough 580 00:32:24,320 --> 00:32:26,560 Speaker 1: to get away from all these because these cities bid 581 00:32:26,840 --> 00:32:29,840 Speaker 1: for uh for these things in its placed, Like Buffalo 582 00:32:29,960 --> 00:32:32,240 Speaker 1: gets in a place like you know, these places that 583 00:32:32,320 --> 00:32:36,640 Speaker 1: don't have a major NBA teams, major college basketball teams, 584 00:32:36,680 --> 00:32:39,320 Speaker 1: it really makes their year. And those those you know, 585 00:32:39,720 --> 00:32:42,360 Speaker 1: eight games that are in there, just the economic impact. 586 00:32:42,840 --> 00:32:46,120 Speaker 1: Every restaurant is full, and and thousands of people come 587 00:32:46,120 --> 00:32:48,000 Speaker 1: into the city who don't even have tickets to the game. 588 00:32:48,040 --> 00:32:50,400 Speaker 1: They just they just watched the games on big screens 589 00:32:50,400 --> 00:32:53,080 Speaker 1: outside the arena or in restaurants and bars around. So 590 00:32:53,240 --> 00:32:55,000 Speaker 1: I think they'd be'd be tough to to have it 591 00:32:55,120 --> 00:32:58,720 Speaker 1: be one stop shopping. Yeah. Interesting, interesting to see what 592 00:32:58,720 --> 00:33:00,640 Speaker 1: what we learned. I mean, I feel like we're in 593 00:33:00,680 --> 00:33:03,600 Speaker 1: that phase of the pandemic hopefully you know, knock on 594 00:33:03,640 --> 00:33:06,480 Speaker 1: wood here that it's all about, like all right, so 595 00:33:06,480 --> 00:33:08,640 Speaker 1: so what are we you know, what are we keeping 596 00:33:08,720 --> 00:33:11,520 Speaker 1: from this experience? And uh, west to see what they 597 00:33:11,520 --> 00:33:14,480 Speaker 1: do on the margins are more than more than the 598 00:33:14,520 --> 00:33:18,720 Speaker 1: margins here. Well, it went before we get to the 599 00:33:18,800 --> 00:33:21,240 Speaker 1: number of the week, And you are exactly right. I mean, 600 00:33:21,480 --> 00:33:25,200 Speaker 1: this is going to come down to us getting back 601 00:33:25,240 --> 00:33:30,040 Speaker 1: to some normalcy and it it will happen. It's going 602 00:33:30,120 --> 00:33:32,800 Speaker 1: to happen. It's just I want to see people in 603 00:33:32,840 --> 00:33:36,040 Speaker 1: the stands and and maybe we've learned something to just 604 00:33:36,080 --> 00:33:39,520 Speaker 1: simply about hygiene is like wash your dog on hands 605 00:33:39,800 --> 00:33:42,920 Speaker 1: and and you stay safe. And you know, I don't 606 00:33:42,960 --> 00:33:44,640 Speaker 1: know how long we're gonna be wearing masks. You know, 607 00:33:44,680 --> 00:33:47,200 Speaker 1: I'll probably be worrying one for a long time, but 608 00:33:47,760 --> 00:33:49,920 Speaker 1: at least we can get back to some normalcy. Yeah, 609 00:33:49,920 --> 00:33:51,560 Speaker 1: And I think you raised such a good point part, 610 00:33:51,680 --> 00:33:53,960 Speaker 1: like in the sense of, you know, one of the 611 00:33:54,000 --> 00:33:56,200 Speaker 1: things that definitely happened over the course of this, and 612 00:33:56,240 --> 00:33:58,240 Speaker 1: this is a little bit of a divergence, but people 613 00:33:58,280 --> 00:34:01,400 Speaker 1: weren't you know, going anywhere if they have the sniffles 614 00:34:01,480 --> 00:34:03,560 Speaker 1: or had a cold, you know, I mean, like the 615 00:34:03,600 --> 00:34:06,840 Speaker 1: whole idea of like and I dare say every single 616 00:34:06,840 --> 00:34:08,520 Speaker 1: one of us and probably most of the people listening 617 00:34:08,680 --> 00:34:10,640 Speaker 1: have been guilty at this. It's like, yeah, I've got 618 00:34:10,640 --> 00:34:11,840 Speaker 1: a little bit of a cold, but I'm going to 619 00:34:11,920 --> 00:34:14,560 Speaker 1: go to the office anyway. Can you imagine like showing 620 00:34:14,640 --> 00:34:16,719 Speaker 1: up to the office like in the future, showing up 621 00:34:16,719 --> 00:34:18,960 Speaker 1: and like sniffling and sneezing everywhere people are can be 622 00:34:19,000 --> 00:34:21,640 Speaker 1: like get out, get out now, or I'm going to 623 00:34:21,800 --> 00:34:24,279 Speaker 1: carry you out, or I'm going to call security, like 624 00:34:24,880 --> 00:34:27,160 Speaker 1: and I don't think, I mean there's an economic element 625 00:34:27,200 --> 00:34:29,960 Speaker 1: to that too, of you know, productivity and and you 626 00:34:30,000 --> 00:34:33,239 Speaker 1: know all those different things. So you know, what one 627 00:34:33,239 --> 00:34:35,799 Speaker 1: thing I'd like to see, I'd like to know when 628 00:34:35,880 --> 00:34:38,239 Speaker 1: the game is being played at Hinklefield House or at 629 00:34:38,239 --> 00:34:41,080 Speaker 1: Banker's Life Stadium. It's really hard to tell unless there's 630 00:34:41,120 --> 00:34:43,840 Speaker 1: like a wide cosway or something, you know, because the 631 00:34:43,880 --> 00:34:46,360 Speaker 1: floor is so it's a it's it's a generic floor 632 00:34:46,400 --> 00:34:49,120 Speaker 1: and every single venue there and I can't tell. I said, 633 00:34:49,520 --> 00:34:51,680 Speaker 1: they look as I really want to know, and it's 634 00:34:51,680 --> 00:34:58,960 Speaker 1: really hard to tell. Yeah. Interesting, Interesting, it feels better 635 00:34:59,000 --> 00:35:00,719 Speaker 1: to be the one than them. Five. I'll wear a 636 00:35:00,800 --> 00:35:02,480 Speaker 1: number because of mikee. We have a chance to go 637 00:35:02,560 --> 00:35:04,399 Speaker 1: for three and a row good numbers at a good time. 638 00:35:04,400 --> 00:35:06,440 Speaker 1: When I first started wearing the number, I would just 639 00:35:06,480 --> 00:35:09,960 Speaker 1: have the improud Bloomberg Business of Sports, the number of 640 00:35:10,000 --> 00:35:15,160 Speaker 1: the week. All right, here we go, Da da da da, 641 00:35:16,760 --> 00:35:22,759 Speaker 1: here we go, number of the week. Uh. This one, Well, 642 00:35:22,840 --> 00:35:27,400 Speaker 1: it's on Fanatics and the valuation of Fanatics. This is 643 00:35:27,400 --> 00:35:32,279 Speaker 1: according to Sportico. I will say this that the Fanatics 644 00:35:32,480 --> 00:35:36,279 Speaker 1: raised three million dollars in a new funding ground and 645 00:35:36,360 --> 00:35:40,480 Speaker 1: it values the world's largest seller of licensed sports merchandise 646 00:35:40,680 --> 00:35:46,640 Speaker 1: at what Well. We are, obviously are in a boom 647 00:35:46,680 --> 00:35:49,080 Speaker 1: around all of this, as we know from this show. 648 00:35:49,920 --> 00:35:55,839 Speaker 1: I will go, I'll go eleven billion. Um, well, let's see. 649 00:35:56,000 --> 00:36:00,560 Speaker 1: Usually I try to undercut Jason and uh, I'm just 650 00:36:00,600 --> 00:36:03,160 Speaker 1: gonna go I'm gonna throw it out there. I looked 651 00:36:03,160 --> 00:36:05,640 Speaker 1: at sixteen banks Road, I'm gonna go sixteen billion. How's that? 652 00:36:05,880 --> 00:36:10,240 Speaker 1: According to someone familiar with the terms, it is valued 653 00:36:10,320 --> 00:36:15,200 Speaker 1: at twelve point eight billions. Here we go. You don't 654 00:36:15,200 --> 00:36:18,960 Speaker 1: see that. I couldn't say anything because after Lynch, after you, 655 00:36:19,160 --> 00:36:24,280 Speaker 1: Jason says something, I'll say and I'll give it all away. 656 00:36:25,480 --> 00:36:31,399 Speaker 1: So that's why I stayed silent. Is like twelve point 657 00:36:31,400 --> 00:36:34,719 Speaker 1: eight that's and that's double, by the way, from what 658 00:36:34,760 --> 00:36:38,480 Speaker 1: it was about seven months ago. So it's amazing. I mean, 659 00:36:38,480 --> 00:36:40,480 Speaker 1: but but it totally checks out. I mean, give it. 660 00:36:40,520 --> 00:36:43,920 Speaker 1: I mean this this whole market is going bananas. To 661 00:36:44,000 --> 00:36:47,560 Speaker 1: use a technical financial term. Um, I just you know, 662 00:36:47,840 --> 00:36:52,240 Speaker 1: I these valuations are getting a little bit, a little 663 00:36:52,239 --> 00:36:54,920 Speaker 1: bit crazy, I have to say so. But you know, 664 00:36:55,200 --> 00:36:58,080 Speaker 1: I mean, the money is certainly flowing there. I guess 665 00:36:58,080 --> 00:37:00,920 Speaker 1: the question is does it can to YouTube? Well, you've 666 00:37:00,920 --> 00:37:04,560 Speaker 1: been listening to Bloomberg Businessist Sports for those questions and more. 667 00:37:04,880 --> 00:37:06,680 Speaker 1: Check us out. We're here each and every week at 668 00:37:06,680 --> 00:37:09,000 Speaker 1: the same time, plus online wherever you get your podcasts. 669 00:37:09,280 --> 00:37:12,600 Speaker 1: Those drop on Monday's, Wednesdays and Thursdays in the meantime. 670 00:37:12,680 --> 00:37:15,680 Speaker 1: Find me Jason Kelly on Twitter at Jason Kelly News 671 00:37:15,960 --> 00:37:17,560 Speaker 1: and I'm Mike Lynch. You can find me at Lynch 672 00:37:17,560 --> 00:37:20,520 Speaker 1: e WTVB and I'm Michael barr on Twitter at Big 673 00:37:20,520 --> 00:37:23,479 Speaker 1: Bar Sports. You are listening to Bloomberg Business of Sports 674 00:37:23,600 --> 00:37:25,600 Speaker 1: Bloomberg Radio round the world.