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Speaker 1: This is Bloomberg Business of Sports. The cold heart truth

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Speaker 1: about the Olympic journey is not really been financially incentivized

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Speaker 1: in the same way that many of the professional sports are.

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Speaker 1: But this is a basketball involved NBA, glibals are licensing

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Speaker 1: arm think for fifty. All of those things will make

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Speaker 1: up what that looks like money in sports. It's one

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Speaker 1: of the reasons why I enjoy doing on Money Night Countdown.

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Speaker 1: Let's talk about some of the more interesting aspects of

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Speaker 1: business of sports. When you're talking sports, discipline is the

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Speaker 1: bridge from being good to ultimately being great at whatever

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Speaker 1: it is that you're trying to be your accomplished as

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Speaker 1: your profession. Bloomberg Business of Sports from Bloomberg Radio. Hello,

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Speaker 1: Welcome to the Bloomberg Business of Sports podcast, where we

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Speaker 1: talk about some of the biggest issues that are out

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Speaker 1: there in the world of sports. I'm Michael barn I'm

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Speaker 1: Scarlett Fou and I'm Mike Lynch. Oh okay, they're both

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Speaker 1: happy people today. Congratulations Rangers fans. Scar Let go ahead,

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Speaker 1: go ahead, do your happy dance, go ahead, go ahead.

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Speaker 1: Feeling good, feeling really good. I did my happy dance

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Speaker 1: last night. I couldn't believe that they actually pulled it out.

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Speaker 1: I mean they were on the brink. We were on

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Speaker 1: the brink of the nation three different times, and we

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Speaker 1: did it. So that was exciting. And you know, now

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Speaker 1: we're going to face basically another Rangers team because the

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Speaker 1: Carolina Hurricanes have so many former Rangers playing on the

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Speaker 1: team that it's it's it's like playing yourself in many ways.

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Speaker 1: But you know, while I was watching the game and

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Speaker 1: reading Twitter, because that's what everyone does these days, I

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Speaker 1: kept paying attention um and seeing all these updates on

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Speaker 1: the Dallas Maverick's son's game because that was just such

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Speaker 1: a blowout from beginning to end. Yeah, it really was

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Speaker 1: in bringing that into light. Congratulations Lynji, your Celtics, your boy,

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Speaker 1: Jana's Anto, the compo. He got tired, probably h towards

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Speaker 1: the end of this series. Man, he was he was

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Speaker 1: looking like he was on the gas. Well. First of all,

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Speaker 1: up here in Boston, we had not one but two

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Speaker 1: game sevens this weekend. We lost to Carolina, which would

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Speaker 1: have set up a great Lynchy Scarlet Foo feud for

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Speaker 1: the next ten days Rangers and Bruins. But that's not said.

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Speaker 1: We will focus on our respective sports yes. So now

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Speaker 1: I'm going to focus on the Celtics going against the

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Speaker 1: Miami Heat, and uh, be honest, the two time m

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Speaker 1: v P of the league was just spectacular and and

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Speaker 1: you're absolutely Mike, right, Mike, you hit a right nail

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Speaker 1: and they had the guy just ran out of gas

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Speaker 1: in that fourth quarter. But the Celtics just were relentless

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Speaker 1: with guys off the bench. You know, Pritchard, where's three pointers?

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Speaker 1: Grant Williams twenty seven points, and you know it's a

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Speaker 1: tough place to win in the Garden. In game number seven,

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Speaker 1: you know, you could just feel the you know, the

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Speaker 1: ghosts of Bill Russell and Bock Couzy and the halet

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Speaker 1: check and Bird and everybody. It was almost impossible for

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Speaker 1: the Celtics to lose. So they move on to the

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Speaker 1: Eastern Conference Finals now, and um, we'll just see how

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Speaker 1: Father Celtics go. Uh and how Father Rangers go. How's

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Speaker 1: that sound? Well? I think you guys can can go

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Speaker 1: very deep. And by the way, Rangers, in case anybody

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Speaker 1: didn't realize, Rangers beat the Penguins four three Game seven.

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Speaker 1: Did did I miss saying that? I'm sorry? No, I

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Speaker 1: know I I should have said it. But what I

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Speaker 1: wanted to bring up was the point that I think

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Speaker 1: the whole turning point for Rangers fans was when Sydney

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Speaker 1: Crosby for Pittsburgh went out. And when that happened, it's like,

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Speaker 1: you know what, you have a chance. Yeah. They He

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Speaker 1: left the game in the middle of Game five, cindent

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Speaker 1: early on, and then um was not around for Game

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Speaker 1: six and came back, but was not as much of

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Speaker 1: a factor. Definitely a threat, but not quite the same

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Speaker 1: as before. See I'll live through you guys vicariously and

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Speaker 1: Detroit fans out there. Okay, anyway, moving right along, congratulations

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Speaker 1: the boat. Uh, let's talk about golf. Let's talk about

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Speaker 1: Greg Norman and yeah, I I I'm gonna let you

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Speaker 1: set it up because I I was amazed when I

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Speaker 1: read it, and I'm like, really, did you just say that,

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Speaker 1: Mr Shark yourself? What appened? Yeah, he's really put his

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Speaker 1: foot in his mouth here. He of course, is trying

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Speaker 1: to recruit players from the PGA Tour to come over

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Speaker 1: and play in the Saudi l I V League it's

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Speaker 1: called and he's the CEO of it. There is the

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Speaker 1: first event is coming up June nine through eleventh. He

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Speaker 1: says he's gonna have forty eight players. When asked about

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Speaker 1: the alleged well the murder of Jamal Kashagi, a journalist,

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Speaker 1: allegedly by someone from Saudi Arabia, Norman says, well, we've

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Speaker 1: all made mistakes, and that just was rattled a lot

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Speaker 1: of people, and that's it's like a sports cliche for

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Speaker 1: something that that is not a sporting event. You've all

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Speaker 1: made mistakes. Well, we've all made mistakes, and you just

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Speaker 1: want to learn by those mistakes and how you can

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Speaker 1: correct them going forward. I mean, we're not talking about,

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Speaker 1: you know, a something three partter, you know, hitting a

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Speaker 1: ball out of bounds on the TA. Yeah, we're talking

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Speaker 1: about murder here. Yeah. I was shocked. I which brings

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Speaker 1: up the next point. And I know that there have

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Speaker 1: been critics that have said this even before he made

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Speaker 1: the comment, that this is just about greed more than

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Speaker 1: anything else. Yes, and you go, if you play in

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Speaker 1: that tournament, you're working for the Saudi Arabian government. It's

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Speaker 1: what you're doing. You're an employee of the Saudi Arabian government.

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Speaker 1: You play for the p G A tour, you're an

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Speaker 1: independent contractor playing in an organization. But you're not playing

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Speaker 1: for the United States of America. You're playing for yourself

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Speaker 1: and for your sponsors and for your coach and your

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Speaker 1: family and your partners. And the deal is, when you're

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Speaker 1: a p g A member, you signed a deal to

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Speaker 1: appear in at least fifteen PGA events over the course

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Speaker 1: of the calendar year, and you could not play in

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Speaker 1: any events that conflict with a scheduled PGA event. Let's

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Speaker 1: say that the p g A Championship is this weekend, Well,

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Speaker 1: you cannot petition to play in an event overseas. You

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Speaker 1: can petition, but it's going to be denied, and then

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Speaker 1: if you decide to just go without the release, you

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Speaker 1: could be banned by life per orders of j Monahan

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Speaker 1: of the p g A. So Michelson right now has

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Speaker 1: pulled out of the p g A and is contemplating

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Speaker 1: playing over in this l I V Tour, which officially

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Speaker 1: there's one event in June, but it officially starts in October,

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Speaker 1: and the prize purse for every one of these events

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Speaker 1: is twenty five million dollars, as opposed to the average

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Speaker 1: prize pool for most Peach p g A Tour events

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Speaker 1: is roughly ten and a half to eleven million dollars

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Speaker 1: every week, so it's more than double that you could

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Speaker 1: finish in last place and make yourself a hundred and

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Speaker 1: seventy five dollars. So that's what the attraction is, especially

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Speaker 1: to a lot of the golfers who are getting up

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Speaker 1: close to fifty and just can't compete with some of

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Speaker 1: these young guys. Now members on the p g A

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Speaker 1: Tour now they if I get this right, they agreed

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Speaker 1: that they got to play a minimum of fifteen events

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Speaker 1: per years. Yes, yes, yep, at fifty events per year.

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Speaker 1: And and you cannot play overseas in an event if

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Speaker 1: it conflicts with a scheduled p g A Tour event.

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Speaker 1: You pick any thing like the Great Milwaukee Opened that's

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Speaker 1: a scheduled PGA Tour event. Well you can't go and say, gee,

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Speaker 1: I'd like to go play over in Dubai this week.

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Speaker 1: And sometimes they'll give give a player a release to

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Speaker 1: go over there, but usually not. So what does it

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Speaker 1: mean that Phil Mickelson has missed his second straight major

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Speaker 1: or his choosing to skip his second straight major, Well,

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Speaker 1: it's it's huge because the defending champions, especially I think

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Speaker 1: in the p g A this has never happened. In

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Speaker 1: the history of the PGA, there have been people that

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Speaker 1: have have not been back to defend their title, but

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Speaker 1: it's because of injury or illness. It's never been because

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Speaker 1: someone just didn't feel that they wanted to go there.

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Speaker 1: I think he thought that he He's going to face

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Speaker 1: a lot of questions. There are allegations that he lost

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Speaker 1: forty million dollars gambling. Um, he made some comments about

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Speaker 1: the Saudi Arabian government. He's trying to I think he's

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Speaker 1: trying to pick that league over in Saudi Arabia against

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Speaker 1: the p G A. I think he wants to be

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Speaker 1: a renegade and for leverage. Yeah, but he's got just

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Speaker 1: think about this though. The PGA last year was a

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Speaker 1: Kiwa Island and remember the image of him coming up

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Speaker 1: Mickelson coming up eighteen and fans were just swarming here

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Speaker 1: that they just you couldn't even find him, and then

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Speaker 1: he burst through the crowd. He went from the top

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Speaker 1: of the world to right now, a guy that a

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Speaker 1: lot of people have questions about his sponsors. Am still

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Speaker 1: like KPMG work Day, they're all out. Callaway has hit

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Speaker 1: a pause button on this sponsorship for Phil Nicholson he's

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Speaker 1: really a man on an island right now, and he

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Speaker 1: really needs to regain his compass. Speaking of you talked

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Speaker 1: about injuries, and this was kind. This is sad to

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Speaker 1: hear Tiger Woodn't that he admitted that he is never

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Speaker 1: going to regain full mobility after he had that horrific accident.

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Speaker 1: But he says he feels much stronger than at the Master's.

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Speaker 1: That's the scar. That's It's sad, and I was worried

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Speaker 1: about that. But at least you know he's he's going

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Speaker 1: to still be out there. I just don't know to

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Speaker 1: what degree. Yeah, it'll be like Tiger Light in a way.

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Speaker 1: But I guess it's not totally surprising given how we

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Speaker 1: saw him perform when he was at the Master's. He

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Speaker 1: did really well initially and then you could tell by

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Speaker 1: the end of the week he was just exhausted. And

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Speaker 1: he said, the flat courses are much better than hilly courses,

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Speaker 1: and August is a very hilly course, and you're right,

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Speaker 1: it was. The limp was more and more noticeable Friday

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Speaker 1: than Saturday, and especially on Sunday. Let's talk about soccer,

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Speaker 1: and our friends at Sportico brought this up. Is the

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Speaker 1: Pollo Global Management. They're eyeing a one billion dollar investment

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Speaker 1: in Mexican soccer Scar. Yeah. This is again according to

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Speaker 1: Sportico and this is a giant PE firm. They're looking

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Speaker 1: for of the profit from uh Liga MX is non

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Speaker 1: Mexican media rights over the next fifty years. This could

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Speaker 1: happen as soon as this week. None of the none

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Speaker 1: of it's a done deal right now. But they would

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Speaker 1: also um own a separate entity that's made up of

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Speaker 1: the league's commercial rights as part of the deal. This

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Speaker 1: all comes back to broadcast rights, and we've seen a

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Speaker 1: lot of finance guys pe industry coming in and buying

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Speaker 1: up rights or access to these rights because right now,

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Speaker 1: this is what are willing to watch. There's a point

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Speaker 1: in viewing for any kind of live sports, and we've

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Speaker 1: seen franchise valuations surge as a results. And all they

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Speaker 1: have to do is look north to the neighboring country,

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Speaker 1: the United States, where they were roughly thirty six million.

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Speaker 1: The Mexicans here big sports fans. This would be anything

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Speaker 1: non Mexican TV rights would be part of under the

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Speaker 1: umbrella with an Apollo Global Management and next to NFL football,

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Speaker 1: Major League Baseball in North America, Mexican soccer is the

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Speaker 1: most viewed sporting event, which is hardly more so yeah,

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Speaker 1: most Southern basketball and hockey. Yeah. See, that's the thing

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Speaker 1: is like if in our bubble here in the United States,

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Speaker 1: if you're in it, you don't realize how huge soccer is.

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Speaker 1: And I'm not talking about you know, Major League soccer.

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Speaker 1: I'm talking about around the world. Man, it's a lot

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Speaker 1: of us don't get it. And you know, in another

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Speaker 1: sport that's that's huge like that, especially in India cricket.

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Speaker 1: Cricket is like monster huge. Oh man, it's and I

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Speaker 1: tried to watch it one day and yeah, I switched

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Speaker 1: to bowling. That's what happened. Man, I'm trying to understand

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Speaker 1: that sport. I'm not gonna lie to you. It's I

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Speaker 1: admire what they do, don't get me wrong, but you know,

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Speaker 1: it's I'm trying to understand it. You know this this

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Speaker 1: is why it's say, why why are so many American

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Speaker 1: sports owners trying to get invest in uh European soccer

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Speaker 1: for instance? So John Henry Owens of the Liverpool team

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Speaker 1: Lebron James is part of that. Uh the Chelsea Football

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Speaker 1: Club which just sold to the one of the oldest,

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Speaker 1: the Los Angeles Dodgers. The big attraction is the television contracts.

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Speaker 1: There are separate ones for Europe, there's a separate contract

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Speaker 1: for Asia, there's one for South America, there's one for

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Speaker 1: North America, there's one for Frances one for England. And

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Speaker 1: it's just it's just is oozing and dripping money. It's

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Speaker 1: not so much the competition and what they're gonna bring

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Speaker 1: at the gate over in England. It's the television contracts

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Speaker 1: and the revenue generated from them, and all the major

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Speaker 1: platforms are going for it. I mean Disney Plus. Disney

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Speaker 1: just reported earnings the other week, and the growth of

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Speaker 1: Disney Plus subscribers um ESPN plus subscribers depends a lot

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Speaker 1: on whether Disney decides to go in for the Indian

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Speaker 1: Premier League cricket rights auction, because that would be key

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Speaker 1: to making sure that it it gets the numbers that

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Speaker 1: it's promised investors in terms of subscribers. Well, once again,

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Speaker 1: congratulations the scar and the Rangers invents. I'm enjoying it.

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Speaker 1: Congratulations Lynchy. The Celtics are advancing. Maybe one of these

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Speaker 1: days Scarlett will be reporting from a Rangers victory parade,

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Speaker 1: and I'll be reporting from a Celtics victory parade maybe

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Speaker 1: on the same day. No I. Meanwhile, I'll be down

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Speaker 1: at the post I'm at the post office looking at

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Speaker 1: the Tigers ratings. That's okay, It's all right, man. You've

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Speaker 1: been listening to the Bloomberg Business. I love my Tigers.

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Speaker 1: Let's thak to the Bloomberg Business of Sports podcast or

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Speaker 1: we talk about some of the biggest issues in the

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Speaker 1: world of sports. Some Michael Bar you can follow me

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Speaker 1: on Twitter at Big Bar Sports, and I'm on Twitter

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Speaker 1: at Scarlett Boom and I'm on Twitter at Lynch w CDV.

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Speaker 1: And you can catch our podcast Mondays, Wednesdays and Thursdays

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Speaker 1: and download them wherever you get your podcasts.