1 00:00:00,720 --> 00:00:04,600 Speaker 1: This is Bloomberg Business of Sports. The world changing and 2 00:00:04,640 --> 00:00:06,840 Speaker 1: what are things we can do to transform our business 3 00:00:06,840 --> 00:00:09,719 Speaker 1: and engage our fans globally in different ways. People are 4 00:00:09,800 --> 00:00:12,680 Speaker 1: using their name and likeness to create more opportunities, more 5 00:00:12,720 --> 00:00:15,520 Speaker 1: stakes and companies. In order to turn the organization around, 6 00:00:15,560 --> 00:00:17,279 Speaker 1: we had to turn it around not only gis on 7 00:00:17,480 --> 00:00:20,959 Speaker 1: baseball operations side, but other business operations side well and 8 00:00:21,079 --> 00:00:23,079 Speaker 1: any other sport is very difficult, but I like to 9 00:00:23,079 --> 00:00:26,560 Speaker 1: blub my horizons and be able to expand. Sports need 10 00:00:26,640 --> 00:00:29,040 Speaker 1: to be consumed a live and not to the big 11 00:00:29,160 --> 00:00:33,640 Speaker 1: competitive advantage for inartial property holders of sports content in 12 00:00:33,720 --> 00:00:37,920 Speaker 1: the media landscape. Bloomberg Business of Sports from Bloomberg Radio. 13 00:00:39,479 --> 00:00:42,400 Speaker 1: Hi everyone, I'm Jason Kelly, and I'm Mike Lynch and 14 00:00:42,440 --> 00:00:45,040 Speaker 1: I'm Michael Barr. And this is the Bloomberg Business of 15 00:00:45,120 --> 00:00:48,559 Speaker 1: Sports where we will explore and talk to some of 16 00:00:48,560 --> 00:00:52,000 Speaker 1: the biggest players in the industry. Absolutely, and it's such 17 00:00:52,040 --> 00:00:54,720 Speaker 1: a fun time of the year, so much anticipation, guys 18 00:00:54,800 --> 00:00:57,680 Speaker 1: of what's going on. The NFL season is starting, but 19 00:00:57,760 --> 00:01:01,200 Speaker 1: before we get to that, the Major League Baseball season 20 00:01:01,440 --> 00:01:06,560 Speaker 1: is chugging along toward its conclusion. We're getting into that 21 00:01:06,760 --> 00:01:10,880 Speaker 1: fun time where the winners start to separate themselves a 22 00:01:10,880 --> 00:01:16,039 Speaker 1: little bit. There you go. We can talk a little 23 00:01:16,040 --> 00:01:18,840 Speaker 1: bit about people slugging, but one of the things we 24 00:01:18,920 --> 00:01:24,040 Speaker 1: got to talk about is baseball cards and the collectibles market, 25 00:01:24,080 --> 00:01:28,240 Speaker 1: which has been exploding. We know that, but technology has 26 00:01:28,280 --> 00:01:32,479 Speaker 1: been super disruptive and nowhere Lynch has it been more 27 00:01:32,520 --> 00:01:37,479 Speaker 1: disruptive then for tops A bad bad week for those 28 00:01:37,520 --> 00:01:40,319 Speaker 1: guys last week. Well, they've been around some of the years. 29 00:01:40,360 --> 00:01:43,319 Speaker 1: They've been a part of so many boys and girls 30 00:01:43,360 --> 00:01:45,920 Speaker 1: growing up, part of their youth, whether they took a 31 00:01:45,959 --> 00:01:48,560 Speaker 1: clothesline close pin and put it in the spokes of 32 00:01:48,600 --> 00:01:51,080 Speaker 1: their bicycle, or flipped them against the wall in the schoolyard, 33 00:01:51,240 --> 00:01:53,400 Speaker 1: or had their dad throw them all because they lied 34 00:01:53,400 --> 00:01:55,840 Speaker 1: to their dadable not doing their homework. They were all. 35 00:01:55,880 --> 00:01:59,400 Speaker 1: They were a part from Ericana. Now, Fanatics has a 36 00:01:59,440 --> 00:02:01,600 Speaker 1: new deal with the Major League Baseball players and the 37 00:02:01,600 --> 00:02:05,720 Speaker 1: Players Association tops Fields. They were deceived by both of 38 00:02:05,720 --> 00:02:09,800 Speaker 1: those parties. Uh. Fanatics is the wave of the future collectibles. 39 00:02:09,800 --> 00:02:11,880 Speaker 1: They're part of the n f T S. They're worth 40 00:02:11,960 --> 00:02:15,360 Speaker 1: about eighteen billion dollars. So they got jay Z and 41 00:02:15,400 --> 00:02:17,639 Speaker 1: they're applying for a gaming license with the New York 42 00:02:17,639 --> 00:02:21,679 Speaker 1: State Gaming Commission. Um TOPS just sort of still well, 43 00:02:22,120 --> 00:02:25,320 Speaker 1: fanatics just gobbled everything up, and unfortunately they're the loser. 44 00:02:26,760 --> 00:02:30,160 Speaker 1: It's brutal and uh I mean, just to tell you 45 00:02:30,200 --> 00:02:34,200 Speaker 1: what happened in the wake of this, so Major League Baseball, 46 00:02:34,560 --> 00:02:37,880 Speaker 1: as Lynchi said, and the players Association said, we're out. 47 00:02:38,000 --> 00:02:40,880 Speaker 1: We're gonna go with fanatics and not TOPS. TOPS was 48 00:02:40,880 --> 00:02:42,840 Speaker 1: planning to go public, you know, talk about a sign 49 00:02:42,880 --> 00:02:44,720 Speaker 1: of the times. It was going to go public through 50 00:02:45,080 --> 00:02:48,480 Speaker 1: a blank check company, a spack special purpose acquisition company 51 00:02:48,600 --> 00:02:52,160 Speaker 1: led by uh tops is Michael Eisner, of course, former 52 00:02:52,160 --> 00:02:55,399 Speaker 1: CEO of Disney and Madison Dearborn, well known private equity firm. 53 00:02:55,440 --> 00:02:59,120 Speaker 1: They have scuttled that deal. They are kind of back 54 00:02:59,160 --> 00:03:02,120 Speaker 1: on their heels trying to figure out what comes next. 55 00:03:02,440 --> 00:03:06,520 Speaker 1: And this is, as I say, bar as I just said, 56 00:03:06,600 --> 00:03:10,120 Speaker 1: a sign of the times, but man, I mean, and 57 00:03:10,960 --> 00:03:14,440 Speaker 1: a really tough tough beat for for TOPS, a very 58 00:03:14,480 --> 00:03:16,800 Speaker 1: well known company, as Lynch said, found it in nineteen 59 00:03:17,080 --> 00:03:19,880 Speaker 1: thirty eight, but hard to see how they come back 60 00:03:19,880 --> 00:03:22,919 Speaker 1: from this. I'm saying a prayer that it's not the 61 00:03:23,040 --> 00:03:25,240 Speaker 1: end of TOPS, because I mean, that was part of 62 00:03:25,240 --> 00:03:29,720 Speaker 1: my childhood growing up with the Tops baseball cards. Uh, 63 00:03:29,800 --> 00:03:32,720 Speaker 1: it was it was just part of the memory of 64 00:03:32,760 --> 00:03:36,400 Speaker 1: being a kid. Yeah, when you got it in the package. 65 00:03:36,440 --> 00:03:39,400 Speaker 1: You didn't eat the bubble gum, you threw that away, 66 00:03:39,600 --> 00:03:43,560 Speaker 1: but you kept the baseball cards. And I wonder now 67 00:03:43,680 --> 00:03:46,400 Speaker 1: what TOPS is going to do because I remember back 68 00:03:46,440 --> 00:03:49,240 Speaker 1: in the eighties when you had I think it was 69 00:03:49,360 --> 00:03:52,400 Speaker 1: Tops baseball cards where they had the NFL but they 70 00:03:52,400 --> 00:03:56,600 Speaker 1: could not show the logo of the teams. So I'm 71 00:03:56,600 --> 00:03:59,280 Speaker 1: wondering if TOPS is going to do something like that 72 00:04:00,000 --> 00:04:02,680 Speaker 1: where you know, they can show the player, but they 73 00:04:02,720 --> 00:04:06,240 Speaker 1: can't show the logo of the teams, or or what 74 00:04:06,320 --> 00:04:08,320 Speaker 1: are they going to do? I mean this this is 75 00:04:08,320 --> 00:04:12,560 Speaker 1: a sad time. Yeah, And we'll see whether TOPS is 76 00:04:12,600 --> 00:04:16,080 Speaker 1: able to to pivot and and maybe accelerate that pivot 77 00:04:16,160 --> 00:04:20,040 Speaker 1: more into the digital landscape. You know, obviously Michael Eisner 78 00:04:20,120 --> 00:04:23,400 Speaker 1: is a hard guy to to bet against. Um. They 79 00:04:23,520 --> 00:04:29,479 Speaker 1: are in the soccer and hockey merchandise business. They have 80 00:04:29,600 --> 00:04:32,320 Speaker 1: tie ups on the entertainment side with Disney and w 81 00:04:32,320 --> 00:04:36,440 Speaker 1: W E UM, so we'll see where they go. UM. 82 00:04:36,480 --> 00:04:40,280 Speaker 1: But but certainly something UH to keep an eye on. UH. 83 00:04:40,320 --> 00:04:44,200 Speaker 1: And and a big, big win. We shouldn't discount that 84 00:04:44,240 --> 00:04:48,400 Speaker 1: for fanatics and the ties to the sports world, they're 85 00:04:48,440 --> 00:04:52,440 Speaker 1: really interesting to Michael Rubin. He is the leader of 86 00:04:52,440 --> 00:04:55,000 Speaker 1: that company, and he's also a co owner as we 87 00:04:55,080 --> 00:04:59,680 Speaker 1: know um with Harris and Blitzer of the seventies Sixers 88 00:05:00,040 --> 00:05:04,040 Speaker 1: and the New Jersey Devils. So definitely interesting to keep 89 00:05:04,080 --> 00:05:07,560 Speaker 1: an eye on well. Speaking of owners, uh, staying with 90 00:05:07,600 --> 00:05:14,880 Speaker 1: baseball guys, Janice, he wins a eight championship, an NBA championship, 91 00:05:14,960 --> 00:05:18,080 Speaker 1: and then decides to take a page from the playbook 92 00:05:18,080 --> 00:05:21,840 Speaker 1: I think of Patrick Mahomes and double down on his 93 00:05:22,000 --> 00:05:25,800 Speaker 1: adopted home city. He's now a minority owner of the 94 00:05:25,839 --> 00:05:29,159 Speaker 1: Milwaukee Brewers. I love this deal, Lynchy, I love this deal. 95 00:05:29,240 --> 00:05:31,360 Speaker 1: He signed a five year, two D and twenty eight 96 00:05:31,360 --> 00:05:34,360 Speaker 1: million dollar deal with with the Bucks in December. He 97 00:05:34,480 --> 00:05:37,120 Speaker 1: loves Milwaukee. He wants to stay there forever, and very 98 00:05:37,160 --> 00:05:40,159 Speaker 1: much like Patrick Mahomes who signed a mega deal with 99 00:05:40,200 --> 00:05:43,080 Speaker 1: the Chiefs and then invested in the Kansas City Royals. 100 00:05:43,120 --> 00:05:47,039 Speaker 1: Now Janice is a member of the true Blue brew Crew. 101 00:05:47,279 --> 00:05:49,159 Speaker 1: Say that five times on a roll with U something. 102 00:05:51,920 --> 00:05:53,599 Speaker 1: I love it though, you know what's It's just he's 103 00:05:53,640 --> 00:05:57,960 Speaker 1: invested emotionally and financially in the community out there, and 104 00:05:57,960 --> 00:05:59,960 Speaker 1: the people love him. He could probably get elected governor 105 00:06:00,000 --> 00:06:02,480 Speaker 1: of Wisconsin right now. Well, it's a great move too, 106 00:06:02,560 --> 00:06:04,440 Speaker 1: I think. I mean one of the ways I think 107 00:06:04,480 --> 00:06:07,440 Speaker 1: about this because as you guys know, I'm obsessed with 108 00:06:07,480 --> 00:06:10,080 Speaker 1: Wall Street having covered that for a long time. The Brewers, 109 00:06:10,480 --> 00:06:15,240 Speaker 1: they are owned by um Marcott Nacio, well known private 110 00:06:15,240 --> 00:06:22,159 Speaker 1: equity and credit investor, and his ability to to woo 111 00:06:22,200 --> 00:06:24,440 Speaker 1: I guess, or to at least, you know, take that 112 00:06:24,520 --> 00:06:27,800 Speaker 1: phone call from the Honest when he expresses some interest. Uh. 113 00:06:27,839 --> 00:06:30,120 Speaker 1: It was interesting. I saw some of the reporting that 114 00:06:30,200 --> 00:06:32,600 Speaker 1: I guess for one of the key games, there were 115 00:06:32,600 --> 00:06:34,919 Speaker 1: a bunch of the Brewers who were in one of 116 00:06:34,920 --> 00:06:39,599 Speaker 1: the suites there at five Serve Arena UM watching on 117 00:06:39,800 --> 00:06:43,480 Speaker 1: as their as their future colleague was putting up an 118 00:06:43,560 --> 00:06:47,320 Speaker 1: unbelievable series. He obviously was the series MVP and and 119 00:06:47,360 --> 00:06:50,960 Speaker 1: the Honest. There's a great new biography out about him. 120 00:06:51,000 --> 00:06:53,400 Speaker 1: He is the man of the moment, that is for sure. 121 00:06:53,560 --> 00:06:56,200 Speaker 1: And I just love to say I love to see 122 00:06:56,640 --> 00:07:01,640 Speaker 1: these guys, these athletes not just being endorsers, but being owners. 123 00:07:01,680 --> 00:07:04,599 Speaker 1: I think we're seeing a very very interesting moment when 124 00:07:04,640 --> 00:07:07,640 Speaker 1: it comes to the world of sports, this of course 125 00:07:07,680 --> 00:07:10,640 Speaker 1: follows you know, close to home there for you Lynch 126 00:07:10,720 --> 00:07:15,600 Speaker 1: e Um, Lebron James and Maverick Carter becoming minority owners 127 00:07:15,680 --> 00:07:17,480 Speaker 1: of the Boston Red Sox. They were already part of 128 00:07:17,520 --> 00:07:21,080 Speaker 1: Fenway Sports Group and had an ownership stake in the 129 00:07:21,120 --> 00:07:25,800 Speaker 1: Liverpool Football Club over in England. But more recently, uh 130 00:07:25,960 --> 00:07:28,200 Speaker 1: they sort of recut their deal or their deal was 131 00:07:28,680 --> 00:07:32,880 Speaker 1: revised to include the Red Sox. You know, these guys 132 00:07:33,120 --> 00:07:35,480 Speaker 1: know what they're doing and and there's a lot of 133 00:07:35,480 --> 00:07:39,400 Speaker 1: speculation that down the line you will see Lebron and 134 00:07:39,720 --> 00:07:42,800 Speaker 1: Maverick and their crew probably owning an NBA team as 135 00:07:42,800 --> 00:07:46,400 Speaker 1: soon as Lebron has done playing. So this this feels 136 00:07:46,560 --> 00:07:49,440 Speaker 1: like the future in many ways. So it's good to 137 00:07:49,440 --> 00:07:53,000 Speaker 1: see Jana's be a part of it. You bet, I 138 00:07:53,000 --> 00:07:56,160 Speaker 1: mean you can, you can you can bank on them 139 00:07:56,160 --> 00:07:59,240 Speaker 1: owning an NBA team. I can. I can almost guarantee 140 00:07:59,280 --> 00:08:02,680 Speaker 1: that's going to happen with the Fenway Sports Group, right right, Yeah, 141 00:08:02,840 --> 00:08:05,440 Speaker 1: hard to see how that that doesn't happen. In a 142 00:08:05,440 --> 00:08:08,920 Speaker 1: lot of ownership stakes trading hands these days, whether it's 143 00:08:09,040 --> 00:08:13,880 Speaker 1: small or or majority ownership stakes, um, all right, let's 144 00:08:13,920 --> 00:08:18,400 Speaker 1: talk a little bit about the NFL. Uh Lynchy, the 145 00:08:18,600 --> 00:08:23,120 Speaker 1: storyline always seems to go right through your town. There 146 00:08:23,120 --> 00:08:26,720 Speaker 1: are a lot of compelling storylines, but the Patriots never 147 00:08:27,120 --> 00:08:30,840 Speaker 1: failed to disappoint. Well, I just got an email from 148 00:08:30,840 --> 00:08:33,200 Speaker 1: the New England Patriots. This is sort of breaking news 149 00:08:33,320 --> 00:08:35,880 Speaker 1: right here, ten forty four am as we're taping this 150 00:08:35,960 --> 00:08:38,440 Speaker 1: on a Monday morning, and I'll read it in quote. 151 00:08:38,480 --> 00:08:41,480 Speaker 1: On Saturday, Cam Newton traveled to a club approved medical 152 00:08:41,480 --> 00:08:43,959 Speaker 1: appointment that required him to leave the New England area. 153 00:08:44,400 --> 00:08:47,440 Speaker 1: He received daily COVID tests, which are all negative. Due 154 00:08:47,440 --> 00:08:51,160 Speaker 1: to a misunderstanding about test conducted away from NFL facilities 155 00:08:51,200 --> 00:08:53,599 Speaker 1: and as required by the NFL n f l p 156 00:08:53,720 --> 00:08:57,360 Speaker 1: A protocols, Cam will be subjected subjected to the five 157 00:08:57,440 --> 00:09:00,679 Speaker 1: day entry cadence process before we can return to the facility. 158 00:09:01,040 --> 00:09:04,240 Speaker 1: He will continue participating virtually in team activities and when 159 00:09:04,240 --> 00:09:08,319 Speaker 1: return to the facility on Thursday August, which is when 160 00:09:08,360 --> 00:09:10,679 Speaker 1: they play their final preseason game I believe against the 161 00:09:10,720 --> 00:09:13,240 Speaker 1: Giants at six pm. So it looks like Newton would 162 00:09:13,240 --> 00:09:18,880 Speaker 1: be out of that game. Interesting. Interesting, always a twist 163 00:09:18,920 --> 00:09:22,080 Speaker 1: and a turn, and uh, we're gonna go deeper on 164 00:09:22,120 --> 00:09:25,360 Speaker 1: the Patriots later on this week, on Wednesday, buon lookout 165 00:09:25,400 --> 00:09:28,800 Speaker 1: for a podcast with Jeff Benedict. He is the author 166 00:09:29,040 --> 00:09:32,560 Speaker 1: of The Dynasty. Uh. It is going to be out 167 00:09:32,600 --> 00:09:36,840 Speaker 1: in paperback on September seven, And that day, Lynchy, you're 168 00:09:36,880 --> 00:09:39,640 Speaker 1: gonna be I R L as the kids say, with 169 00:09:39,760 --> 00:09:43,600 Speaker 1: Jeff Bennedict tell us about that. Yeah, well that's coming 170 00:09:43,600 --> 00:09:46,240 Speaker 1: out on paperback. And he was kind enough to send 171 00:09:46,280 --> 00:09:49,040 Speaker 1: me an email and asked if I would join him. 172 00:09:49,080 --> 00:09:51,600 Speaker 1: Simon and Schusta suggested that he have someone to sit 173 00:09:51,640 --> 00:09:54,120 Speaker 1: with him and interview him about the book and then 174 00:09:54,160 --> 00:09:56,640 Speaker 1: take questions from a live audience. So we're gonna be 175 00:09:56,720 --> 00:09:59,679 Speaker 1: in Plainville, mass which is the next town over from Foxborough, 176 00:10:00,440 --> 00:10:04,680 Speaker 1: at a bookstore called in Unlikely Story Tuesday, September seven 177 00:10:04,800 --> 00:10:08,120 Speaker 1: at seven pm. And if you've ever heard Jeff Benedict 178 00:10:08,200 --> 00:10:10,840 Speaker 1: on any of our shows or anything, you could listen 179 00:10:10,840 --> 00:10:13,720 Speaker 1: to him for hours. He just he doesn't waste any words. 180 00:10:13,800 --> 00:10:15,480 Speaker 1: He wastes no words in the book, and he wastes 181 00:10:15,520 --> 00:10:18,439 Speaker 1: no words in his interviews. And I'm looking forward to 182 00:10:18,480 --> 00:10:20,280 Speaker 1: sitting down with him. And it should be a fun 183 00:10:20,400 --> 00:10:22,880 Speaker 1: night because this this book, even if you're a Patriot 184 00:10:22,920 --> 00:10:25,400 Speaker 1: fan and you think you know everything about the Patriots, 185 00:10:25,720 --> 00:10:27,720 Speaker 1: you'll want to read it. If you hate the Patriots, 186 00:10:28,080 --> 00:10:30,000 Speaker 1: you'll love the book and you'll hate the Patriots even 187 00:10:30,040 --> 00:10:36,280 Speaker 1: more now it really is. It's an incredible read. And uh, 188 00:10:36,400 --> 00:10:38,800 Speaker 1: we love catching up with Jeff and hearing about that 189 00:10:38,880 --> 00:10:41,640 Speaker 1: and and are toasting his success uh all the time. 190 00:10:41,679 --> 00:10:44,160 Speaker 1: Bar what are you most interested and excited about for 191 00:10:44,200 --> 00:10:47,920 Speaker 1: this upcoming NFL season? Well, obviously fantasy sports, as I'm 192 00:10:47,920 --> 00:10:50,560 Speaker 1: a big fantasy sports player. I have to ask Lynchy 193 00:10:50,800 --> 00:10:53,920 Speaker 1: because all of the experts in fantasy sports is saying 194 00:10:54,280 --> 00:10:57,000 Speaker 1: stay away from the Patriots backfield, Stay away from the 195 00:10:57,040 --> 00:11:00,960 Speaker 1: Patriots backfield. And I get it because it's it's almost 196 00:11:00,960 --> 00:11:05,360 Speaker 1: a rotation going on in the backfield. But one thing 197 00:11:05,440 --> 00:11:10,040 Speaker 1: that I enjoy about fantasy sports, especially in the NFL, 198 00:11:10,440 --> 00:11:15,000 Speaker 1: you watch those games that you would never ever watch before. 199 00:11:15,080 --> 00:11:18,240 Speaker 1: I mean you're watching, you know, you know, some team 200 00:11:18,280 --> 00:11:21,400 Speaker 1: against some other team that's low in the rankings. But 201 00:11:21,640 --> 00:11:25,760 Speaker 1: because of fantasy sports, the ratings are going to be there. 202 00:11:25,800 --> 00:11:28,840 Speaker 1: And that's something that people need to understand about not 203 00:11:28,880 --> 00:11:32,920 Speaker 1: just fantasy sports, but betting in general. This is why 204 00:11:32,960 --> 00:11:35,000 Speaker 1: it's off the chart. People are gonna be in game 205 00:11:35,040 --> 00:11:38,840 Speaker 1: betting on some of the sorry is games that are 206 00:11:38,880 --> 00:11:41,920 Speaker 1: going to be out there, especially late in the season. Well, 207 00:11:41,960 --> 00:11:43,480 Speaker 1: and if you want to get a little bit of 208 00:11:43,480 --> 00:11:45,480 Speaker 1: a fix and a little bit of a window into 209 00:11:45,520 --> 00:11:49,480 Speaker 1: the mind of Michael Barr and his uh fantasy his 210 00:11:49,559 --> 00:11:52,640 Speaker 1: fantasy work, check out the podcast and the weekend radio 211 00:11:52,640 --> 00:11:55,239 Speaker 1: show from this past weekend, our conversation with Chris Collinsworth 212 00:11:55,280 --> 00:11:59,280 Speaker 1: where Chris Collinsworth gives Michael Barr a money back guarantee. 213 00:12:00,480 --> 00:12:02,600 Speaker 1: You got to write that down, and I know that 214 00:12:02,679 --> 00:12:06,080 Speaker 1: subscription has already been processed Bar. So we're looking forward 215 00:12:06,120 --> 00:12:10,200 Speaker 1: to uh seeing you win the Bloomberg Fantasy UH the 216 00:12:10,200 --> 00:12:13,080 Speaker 1: Fantasy League this year. All Right, have a great week. 217 00:12:13,160 --> 00:12:15,640 Speaker 1: Everyone will be back with you later on this week 218 00:12:15,640 --> 00:12:20,000 Speaker 1: with Jeff Benedict. This has been the Bloomberg Business of Sports, 219 00:12:20,080 --> 00:12:25,240 Speaker 1: and you can follow our podcast every Monday, Wednesday and Thursday. 220 00:12:25,360 --> 00:12:28,880 Speaker 1: I'm Michael Barr on Twitter at Big Bar Sports and 221 00:12:28,960 --> 00:12:32,600 Speaker 1: you will not be disappointed. I guarantee it. I'm Mike Lynch. 222 00:12:32,640 --> 00:12:34,960 Speaker 1: You can follow me at Lynch e w CDB and 223 00:12:35,000 --> 00:12:37,719 Speaker 1: I'm Jason Kelly. Follow me at Jason Kelly News you're 224 00:12:37,720 --> 00:12:40,800 Speaker 1: listening to Bloomberg Business of Sports on Bloomberg Radio around 225 00:12:40,800 --> 00:12:41,160 Speaker 1: the world.