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Speaker 1: Bloomberg Audio Studios, podcasts, radio news. So a very special

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Speaker 1: day here in Arlington, Texas. Two guys we have come

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Speaker 1: to know pretty well for their achievements in sports. Jerry Jones,

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Speaker 1: Roger Penske, thank you so much for being with us

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Speaker 1: to talk about a massive project you guys are doing together,

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Speaker 1: you know.

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Speaker 2: Talking about this massive project. How long have the two

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Speaker 2: of you known each other?

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Speaker 3: Well, I think we go back twenty five years. I

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Speaker 3: think the first time that we met, and I think

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Speaker 3: I mentioned it before I had to give a proposal.

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Speaker 4: To the owners and Jerry was in the front row.

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Speaker 3: I remember to try to get the Super Bowl to

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Speaker 3: come to Detroit.

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Speaker 4: So we're back here again for another iconic moment.

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Speaker 5: Well, it took Roger and a great Detroit group to

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Speaker 5: get that super Bowl because there was a mentality of

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Speaker 5: manha your super Bowl with a Sunday shouting on January

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Speaker 5: we can play golf. And here comes Roger Penske leading

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Speaker 5: the charge through the door, saying where this super Bowl

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Speaker 5: needs to be is where it can be cold, but

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Speaker 5: the feelings will be warm.

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Speaker 6: We'll warm it up for you up there.

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Speaker 5: And he was unquestionably the figurehead or the face that

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Speaker 5: was persuasive to the NFL owners for us to go

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Speaker 5: that way.

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Speaker 6: Now, the Fords are so.

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Speaker 5: Beloved and leading the pack for the Fords would be me.

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Speaker 6: I truthfully will tell.

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Speaker 5: You that when I got involved in the NFL, one

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Speaker 5: of the motivating things was the fact that the Fords.

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Speaker 6: Had the Detroit Lines.

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Speaker 5: A part of America, part of the automobile business was

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Speaker 5: a part of the NFL through the Ford. So I

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Speaker 5: was excited about being there and I was very all

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Speaker 5: ears open minded when Roger was tiding the Detroit application, Well.

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Speaker 3: You made a difference, I can tell you today that

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Speaker 3: was really I think the pivot for the city of

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Speaker 3: Detroit to Orions today was at Super Bowl in two

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Speaker 3: thousand and six.

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Speaker 7: And so obviously you stayed in touch over the years.

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Speaker 7: So how did this combination of such strong people and

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Speaker 7: so many teams actually happen?

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Speaker 4: Well, I'd say that it really my son Greg.

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Speaker 3: We bought the speedway and off always a series in

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Speaker 3: two thousand and we were looking at at major locations

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Speaker 3: that we could bring our series to and there was

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Speaker 3: no question, you know that Arlington and Dallas just stuck out.

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Speaker 3: We need to contact there, So through relationships we had

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Speaker 3: with Jerry's team, and certainly that manifested over a number

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Speaker 3: of years. It didn't happen overnight, because this is a

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Speaker 3: thought process. The fact that how we do business, our

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Speaker 3: experience at the Speedway now, I think gives us, I think,

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Speaker 3: the capabilities and obviously to be able to come here

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Speaker 3: and tell Jerry we're going to come here and bring

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Speaker 3: something the way you do business.

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Speaker 6: All right, So Jerry talk.

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Speaker 8: To us about the scope and scale of this.

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Speaker 1: I mean this, They're going to be race cars going

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Speaker 1: around these streets in just a few years. What is

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Speaker 1: this compared to in terms of what you've done already

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Speaker 1: here in Texas?

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Speaker 6: Well, The.

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Speaker 5: Image, if you will, from looking at five and ten

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Speaker 5: thousand feet is that this is a happening that's going

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Speaker 5: going on really in not only the Dallas area but

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Speaker 5: for the world to see. But the Dallas area is

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Speaker 5: having the event, and that.

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Speaker 6: Is the key. We're used to appealing to thirty million people.

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Speaker 5: And of course our good friends at Fox are going

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Speaker 5: to be so involved with us and how to present

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Speaker 5: this race.

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Speaker 6: I know that for instance, when.

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Speaker 5: We had the Super Bowl here, we were just enjoying

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Speaker 5: our second year and mister Murdoch called and he said,

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Speaker 5: we're going to make the stadium the star of the ship. Well,

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Speaker 5: how do you do that when people are looking in

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Speaker 5: to see the ball game the Super Bowl? Well they

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Speaker 5: were able to do that, And for instance, my ex

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Speaker 5: coach Jimmy Johnson and I walked around the stadium and

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Speaker 5: talked about old times and talk about some of the

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Speaker 5: nuances of the stadium.

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Speaker 6: Well, what will.

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Speaker 5: Happen here is will not only have millions of people

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Speaker 5: that are looking at this race, but we'll share the

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Speaker 5: nuances of what this race is about. And it will

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Speaker 5: be certainly those cars going two hundred and something miles

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Speaker 5: an hour around all these streets and around all these

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Speaker 5: great sporting venues, but it will also be about as

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Speaker 5: far as the millions of eyes that are looking at

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Speaker 5: this thing, It'll be about It'll be about Roger Penske,

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Speaker 5: it'll be about cowboys, it'll be about tradition, it'll be

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Speaker 5: about sports. But in the medium, it'll be about racing

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Speaker 5: along these streets. And I would hope that we're establishing

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Speaker 5: something that will last a long time here.

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Speaker 7: When you look at this area here, so much has

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Speaker 7: developed around.

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Speaker 6: At and T Stadium. What is the vision now?

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Speaker 7: I mean you're adding this, is this the end or

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Speaker 7: are you planning to do more in this area?

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Speaker 6: Well, this race, I'll start at Roger.

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Speaker 5: This race is a part of the building, if you will,

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Speaker 5: of this area personally, the way that I look at

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Speaker 5: sports and the interest in sport and what sports brings

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Speaker 5: to our society.

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Speaker 6: What sports brings to commerce.

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Speaker 5: Roger is such an innovator in the world, and he

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Speaker 5: took racing and he made it.

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Speaker 6: A part of a lot of things. Fox will tell

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Speaker 6: you that.

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Speaker 5: I'll tell you that I've taken a lot of what

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Speaker 5: I've done off watching what Roger Penske does in racing

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Speaker 5: relative to selling the sport or selling sports in general.

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Speaker 6: That's what this is about. And there's nothing like it.

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Speaker 5: Sports that moves the needle where and it can go

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Speaker 5: against all kinds of products, services, disciplines. Sports is a

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Speaker 5: unique speaks to emotion.

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Speaker 3: I think when you look at an anchor tenant, an

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Speaker 3: anchor event, and what Jerry's done here to take the

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Speaker 3: stadium and build it to just look outside here and

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Speaker 3: you can see it, and I think word I use

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Speaker 3: every day's utilization. What the City of Arlington's doing is

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Speaker 3: taking Jerry and the other teams that are here and

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Speaker 3: utilizing you know, their capital. You know there are people

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Speaker 3: and their vision to make this much greater. And I

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Speaker 3: think we're just going to be a part of that.

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Speaker 3: We want to be right part of the woodwork here

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Speaker 3: as we go forward.

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Speaker 1: And so what are we going to see here, Roger

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Speaker 1: in terms of like how many people?

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Speaker 8: What's the sort of the economic element to this?

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Speaker 1: Because you put on races all over the world about

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Speaker 1: seventeen I believe in twenty twenty five for the Indy

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Speaker 1: Car Series. What does it look like number of people

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Speaker 1: that those.

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Speaker 8: Sorts of things.

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Speaker 4: Well, I think what we have to do is look

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Speaker 4: at other cities where we do business.

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Speaker 3: We were in Saint Pete, We're in Long Beach, We're

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Speaker 3: in Detroit by the way, and I think that we

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Speaker 3: typically on a weekend like this will have between one

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Speaker 3: and one hundred and fifty thousand people for the weekend. Yeah,

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Speaker 3: we're gonna have twenty seven cars, We'll have great teams here.

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Speaker 3: The competition has never been greater, and I think to

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Speaker 3: bring this here obviously Fox is our new partner, which

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Speaker 3: is going to be terrific.

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Speaker 4: Eric Shanks that we're gonna make this series where we

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Speaker 4: want to go.

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Speaker 3: So I see fast cars, I see a lot of people,

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Speaker 3: a lot of interest here. I think we'll see diversity

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Speaker 3: from this fan base as we come here, and to me,

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Speaker 3: we're gonna make a big difference seeing something different. But

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Speaker 3: guess what, we're in one of the greatest stadiums in

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Speaker 3: the world coming.

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Speaker 4: Here with Jerry Roger.

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Speaker 7: There's all types of different car racing, as you know,

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Speaker 7: But what is the next big thing in IndyCar?

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Speaker 6: What do you think the next big thing is?

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Speaker 3: Well, I think that what we've done this year is

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Speaker 3: we've taken hybrid. As you know, in the automobile business today,

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Speaker 3: hybrid is a bridging strategy and we're now taking that

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Speaker 3: into our Indy cars. We'll take that to the next

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Speaker 3: level as we get into twenty six and twenty seven beyond,

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Speaker 3: and I.

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Speaker 4: Think we're going to see more dynamics.

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Speaker 3: We're going to see the hybrid technology for a power

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Speaker 3: train and obviously the number one thing we're doing with

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Speaker 3: a new car is safety.

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Speaker 8: So Roger picking up on that racing is having a moment.

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Speaker 1: You know, next weekend, a lot of people, hundreds of

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Speaker 1: thousands people are going to be down the road in

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Speaker 1: Austin at the circuit of the Americas for Formula One.

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Speaker 1: How do you punt intended draft off of some of

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Speaker 1: what's going on in the broader motorsports world to grow

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Speaker 1: your business.

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Speaker 3: Well, I think what I've said to our team is

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Speaker 3: we got to focus on our business.

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Speaker 4: I do that every day Monday through Saturday or Sunday.

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Speaker 3: And I think we look at open reel racing we

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Speaker 3: have here in the United States. It's the highest technology,

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Speaker 3: it's the fastest cars.

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Speaker 4: And I think we want to continue that.

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Speaker 3: And then it's a diverse Remember we run on street

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Speaker 3: courses like here in Arlington, we run it into Applis

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Speaker 3: where they qualify at two hundred and forty four miles

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Speaker 3: an hour. We're running at permanent road courses. So ours

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Speaker 3: is diverse and we're going to keep that. It really

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Speaker 3: is our total and that's going to be our monitor.

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Speaker 3: Is going to be diversity from the standpoint of the

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Speaker 3: types of racing that we do here in the United States.

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Speaker 7: You know, Jerry, You've gotten into a lot of businesses,

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Speaker 7: but why.

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Speaker 6: Did you pick this one?

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Speaker 5: Well, first of all, I love sports. Sports is very

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Speaker 5: unique in terms of the word business. It's bottom line,

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Speaker 5: but it's really not bottom line like you would have

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Speaker 5: with the grocery business or the automobile business.

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Speaker 6: There's more to it. Sports is about tradition.

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Speaker 5: All you have to do is go up here to

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Speaker 5: that Saint elmos Tekasse and in Annapolis and be around

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Speaker 5: where that where the big graces have been overheld of

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Speaker 5: shamp cocktail.

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Speaker 4: For that.

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Speaker 6: It's about tradition.

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Speaker 5: It is about entertainment, and therein lies the innovatedness of

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Speaker 5: a man like Roger Pensky or if you will, what

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Speaker 5: we can do in the NFL to make it entertaining.

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Speaker 6: But here's the deal.

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Speaker 5: Real sports is about really putting it on the line.

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Speaker 5: It didn't make believe. It isn't staging, it isn't produced.

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Speaker 5: Real sports is real competition. Now, these guys behind the wheels,

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Speaker 5: they're putting it on the line.

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Speaker 6: That's not funny.

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Speaker 5: They are competing, and they're competing with everything in my sport.

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Speaker 5: In football, those guys have to call on themselves to

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Speaker 5: give it up. That's not natural to get out there

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Speaker 5: and get in front of three hundred.

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Speaker 6: God tells you to get out in front of three hundred,

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Speaker 6: not in front of me.

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Speaker 5: So when you have sports, it actually calls on people,

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Speaker 5: then it transcends other phases of life because out here

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Speaker 5: in real life we're having to get called on and

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Speaker 5: this didn't make believe out here in real life. So

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Speaker 5: sports identifies with that. Then if you put it on,

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Speaker 5: then you put it on in a great, great event

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Speaker 5: like we're talking about this racing, but yet with Fox

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Speaker 5: we're getting to go out in front of millions of people.

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Speaker 5: The combination of those things is why I'm sitting in

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Speaker 5: this chair.

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Speaker 8: And so Roger.

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Speaker 1: You know, Jerry brings up a lot of good points

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Speaker 1: about sort of the storytelling and the personalities no shortage

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Speaker 1: of personalities around the Dallas Cowboys, and including the man

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Speaker 1: who's sitting right here in front of us.

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Speaker 8: How do you do that in your sport?

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Speaker 1: You know, Michael Andretti steps back, you know from what

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Speaker 1: he's doing. Who's going to carry the torch forward and

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Speaker 1: ensure that Indy car and your racing empires.

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Speaker 8: It was just stays in the center of the conversation.

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Speaker 3: I'd have to say that you hit it right in

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Speaker 3: the middle of the bull's eye. We've got to build stars.

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Speaker 3: Jerry's got to build stars, and so do we, And

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Speaker 3: I think that builds our brand. I would say for us,

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Speaker 3: racing has been a common thread through our company for

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Speaker 3: fifty years because it shows TeamWorks, effort, show's integrity. And

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Speaker 3: I think from my perspective is we build a sport,

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Speaker 3: we've got to give the fan. My son calls them

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Speaker 3: guests to come to your stadium, come to your track

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Speaker 3: and experience.

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Speaker 4: They want to tell their neighbor.

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Speaker 3: It's all about telling people I had a great time

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Speaker 3: and I want to come back. But then when you

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Speaker 3: can put that across a stadium like we have here

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Speaker 3: in Arlington, it's a double hit for us. And I

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Speaker 3: think our goal is to build the new gardens, you know,

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Speaker 3: bild Alex Pelows. We've got some great young guys coming

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Speaker 3: up through the through the series. It's like any sport,

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Speaker 3: the big guys retire. There's enough jobs for all of

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Speaker 3: them to be announcers at this point, so your jobs

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Speaker 3: are safe right now anyhow. But I think it's about continuity,

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Speaker 3: it's date equity.

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Speaker 4: People know we're going to.

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Speaker 3: Be at Indianapolis in May, We're going to be in

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Speaker 3: March at twenty six, We're going to be in Arlington.

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Speaker 4: Those are things that.

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Speaker 3: We have to do to draw on this network of

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Speaker 3: people and fans that we have around the world.

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Speaker 1: And so Jerry, NFL sort of racing never short on

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Speaker 1: the headlines.

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Speaker 8: I think that's a fair as.

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Speaker 1: A largely owing to you. You're you're good at making

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Speaker 1: some headlines. We're sitting here with Bloomberg. The biggest headline

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Speaker 1: right now is new money coming into the NFL. You

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Speaker 1: guys approve private equity coming in. What does that mean

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Speaker 1: for you? What does that mean for you as an

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Speaker 1: owner and you as the Cowboys.

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Speaker 5: When I got into sports, when I got not playing,

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Speaker 5: but when I got into sports as it retained business,

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Speaker 5: I know football didn't work. The Cowboys were losing one

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Speaker 5: million dollars a month cash flow. When I bought the

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Speaker 5: Dallas Cowboys, there was there was a great model of publicity,

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Speaker 5: huge coverage in media, But that's not marketing. Marketing is

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Speaker 5: when you use the pub and you use the interest

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Speaker 5: to have enough left over to come back and get

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Speaker 5: to go again.

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Speaker 6: Well, sports is it? To Pro football was almost a charity.

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Speaker 5: It had to be really wealthy to be involved.

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Speaker 6: I was not that wealthy to be involved.

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Speaker 5: So you had to have a model that somehow brought

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Speaker 5: the juice back. No school, no family, no city, nobody

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Speaker 5: can be for what they have potential to be.

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Speaker 6: If they're broke, you have to have.

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Speaker 5: Some financial substance to really show out and be everything

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Speaker 5: you can be for entertainment. Consequently, the business model for

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Speaker 5: me has always been a major interest for us. And consequently,

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Speaker 5: sitting here with Roger Penske, this is running with the

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Speaker 5: ball off tackle.

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Speaker 6: This has helping football to be sitting here with Roger.

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Speaker 5: This has helping racing to be sitting here and a

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Speaker 5: part of the NFL and doing the races around these

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Speaker 5: type of venues.

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Speaker 6: It's cross promotion, but it's all real. It's very real.

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Speaker 6: It's sports. I had a guy at one time, tell

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Speaker 6: as Dan Burke.

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Speaker 5: He was chairman of cap Cities, and he said, Jerry,

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Speaker 5: you're at the right time of year. You're in the fall.

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Speaker 5: It's wanted like to have the people in front of

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Speaker 5: the TV screen to make decisions.

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Speaker 4: He said.

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Speaker 5: Secondly, you got the right breaks, unintrusive break so that

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Speaker 5: we can say some messages. Put all that on the side.

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Speaker 5: What it is you're a soap opera three hundred and

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Speaker 5: fifty days a year. You've got them, You've got them

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Speaker 5: talking about them because You've got so many guys, so

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Speaker 5: many people out here creating stories three hundred and sixty

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Speaker 5: five days a year. He said, when we make a

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Speaker 5: movie at ABC, when we make a movie, we have

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Speaker 5: spent as much to promote it as we do to

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Speaker 5: make the movie. Football does that for us when you

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Speaker 5: promote it, And he said, it shouldn't be powderpuff stuff either.

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Speaker 6: Ought to have a.

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Speaker 5: Little controversy with it. So with that in mind, right

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Speaker 5: off the bat, it influenced me. When it gets slow

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Speaker 5: around the Cowboys, I stir the butt.

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Speaker 8: I think we have the recidi. We all have the

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Speaker 8: receipts through that.

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Speaker 1: So given that you have built inarguably the world's most

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Speaker 1: valuable sports franchise, now with institutional money coming in, how

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Speaker 1: does that affect you.

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Speaker 8: Do you think about selling mistake or is that for

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Speaker 8: the other.

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Speaker 6: Folks in the league to do well.

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Speaker 5: My complete thought is the viability of the game, viability

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Speaker 5: of sport, And anytime you have attractive place to attract capital,

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Speaker 5: then that gives you a sense of the strength or

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Speaker 5: the viability of the sport.

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Speaker 6: So when I look ahead from now, as I.

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Speaker 5: Look into the future, that being able to take and

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Speaker 5: sell parts of these teams, the demand being there to

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Speaker 5: invest for parts of the team going forward, because I

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Speaker 5: think there's huge growth left. When I look at that,

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Speaker 5: I see a plus for a running off tackle and

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Speaker 5: throwing touchdown passes for the game.

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Speaker 6: Except I've got.

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Speaker 7: To imagine your phone's blowing out with people that are interested.

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Speaker 6: Well, I'll say that I never thought that.

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Speaker 5: My family's involved and have been involved from the very beginning.

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Speaker 5: It's the very best part of having been with the

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Speaker 5: Dallas Cowboys all these years is to have my entire family.

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Speaker 5: As a matter of fact, the things that I usually

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Speaker 5: get credit for were not only their ideas that my

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Speaker 5: children executed them for us, including my wife, who was

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Speaker 5: very involved with what we're doing.

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Speaker 6: So the involvement, you know, I test.

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Speaker 5: I'm here to say that I thought I'd done a

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Speaker 5: little something when I bought the team. I knew I

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Speaker 5: had a rough road ahead because it financially didn't work.

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Speaker 5: I had no idea that being a part of my passion,

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Speaker 5: something that passionate that I was about, that that would

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Speaker 5: cause me to try things that works, let's try it

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Speaker 5: again and keep trying. And it caused me because I

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Speaker 5: was in my passion to do something, I never thought

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Speaker 5: I could ever attain or even try to do.

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Speaker 2: So we're sitting here right by at and T Stadium,

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Speaker 2: You're going to see cars going on. When both of

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Speaker 2: you think about this and what it's going to mean

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Speaker 2: to Dallas into racing, you know what goes through both

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Speaker 2: of your minds.

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Speaker 3: Well, I think one thing that we can't miss here

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Speaker 3: the stature of the sport, whether it's the NFL, it's

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Speaker 3: the IndyCar, is the brand. And think about the sponsors

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Speaker 3: because of what we've done in an IndyCar and what

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Speaker 3: Jerry's done with the team in the NFL.

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Speaker 4: That's the bedrock here. We talk about people that want

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Speaker 4: to invest.

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Speaker 3: They see the value here and that's one of the

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Speaker 3: most important things we can do is maintain the credibility

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Speaker 3: for our guests and our fans that they come to

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Speaker 3: these events because that capital outside maybe not the capital inside,

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Speaker 3: that capital is spending money every weekend on television and

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Speaker 3: other areas.

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Speaker 4: Is critical to keep this value up.

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Speaker 3: So we own that have to be sure that we

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Speaker 3: provide the highest level of an experience for people. So

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Speaker 3: I look at it execution on race day, execution on

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Speaker 3: game day, but also be sure that we give our

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Speaker 3: sponsors what they need so they can continue to invest.

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Speaker 4: Certainly, it's key to the television networks too.

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Speaker 6: I'd add this to it.

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Speaker 5: As these cars are competing, and at that level of competition,

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Speaker 5: they're going to drive by.

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Speaker 6: The new, brand new, brand new.

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Speaker 5: National Museum of the Medal of Honor for our great

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Speaker 5: American heroes. It's being built not a mile from where

395
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Speaker 5: we're sitting here having this interview.

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Speaker 6: The point I'm trying to make is.

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Speaker 5: Is that sport is a part of what's happening in America,

398
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Speaker 5: and in.

399
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Speaker 6: That case of the Medal of Honored recipients.

400
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Speaker 5: How we got here and how we maintain being a

401
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Speaker 5: part of America is the bravery and the heroes that

402
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Speaker 5: fought for us in the wars. Those with what you

403
00:20:01,200 --> 00:20:06,080
Speaker 5: do when it's real competition, not made up competition, when

404
00:20:06,080 --> 00:20:10,520
Speaker 5: it's really on the line, And that's the attraction now

405
00:20:10,840 --> 00:20:14,960
Speaker 5: to come along and fix it. For stadiums, for suites,

406
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Speaker 5: for the great ways.

407
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Speaker 6: That we present them.

408
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Speaker 5: You know, before the Cowboys, I would take people hunting,

409
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Speaker 5: and I would take them hunting because I wanted them

410
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Speaker 5: to be sweet to me. I wanted them to help

411
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Speaker 5: me in my business. Well to me, sports was just

412
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Speaker 5: a natural way to take advantage of showing someone what

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Speaker 5: you care of.

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Speaker 6: How about going.

415
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Speaker 5: Out to the Great Race in Annapolis five hundred, Those

416
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Speaker 5: are the places for sports.

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Speaker 1: So Roger, you know, we talked a little bit about

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Speaker 1: the investment coming into the NFL. What is the investment

419
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Speaker 1: case for Indy Car for the rest of racing right now?

420
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Speaker 1: Where's the new money coming from? What are you hearing?

421
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Speaker 1: We know people are knocking on Jerry's door and his

422
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Speaker 1: fellow owners. How's it going for you in terms of

423
00:21:00,480 --> 00:21:02,680
Speaker 1: drawing new investment and where do you see that coming?

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Speaker 3: Well, I think I think you've seen a lot of

425
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Speaker 3: this capital go into Formula One owning teams. We've seen

426
00:21:08,480 --> 00:21:11,040
Speaker 3: this from a charter. We put charters in here in

427
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Speaker 3: the last couple of months in INDYCARSOS NASCAR, So we're

428
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Speaker 3: seeing people that want to invest in a charter and

429
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Speaker 3: build a team. So to me, it's again it's the

430
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Speaker 3: experience and we're using it as a tool to drive

431
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Speaker 3: our marketing and our companies, and that's how we sell sponsorship.

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Speaker 3: You know, we look at our revenue in our in

433
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Speaker 3: our motor sports and our pencate it's about four hundred

434
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Speaker 3: million a year, and you think about it. We started out,

435
00:21:34,840 --> 00:21:36,960
Speaker 3: you know, with a two hundred and fifty dollars sponsor.

436
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Speaker 3: That's how we started out, to think about So we've

437
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Speaker 3: been able to take this and take it to where

438
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Speaker 3: it is today because obviously it's in my blood, but

439
00:21:45,240 --> 00:21:47,520
Speaker 3: we've seen it in such a great tool to take

440
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Speaker 3: care of these people that want to see sports. And

441
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Speaker 3: you win, you lose more than you win, don't we

442
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Speaker 3: Jered think about that. We don't win every race, and

443
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Speaker 3: we don't win every day, but again, it keeps us motivating.

444
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Speaker 3: And I think that's the great thing about.

445
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Speaker 4: Sports and the emotion, the emotion around winning.

446
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Speaker 5: You just can't you can't buy it, you know, Roger,

447
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Speaker 5: you talk about my experience on winning.

448
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Speaker 6: Only about two percent of the time.

449
00:22:11,480 --> 00:22:17,880
Speaker 5: In my mind, do you have feeling around sports? Sports

450
00:22:17,960 --> 00:22:19,959
Speaker 5: is work to participate.

451
00:22:20,080 --> 00:22:22,560
Speaker 6: Just think about it. As a player, it's go to

452
00:22:22,640 --> 00:22:24,160
Speaker 6: work time. That's nothing.

453
00:22:24,560 --> 00:22:28,240
Speaker 5: Now again I mentioned natural, it's go to work. It's

454
00:22:28,280 --> 00:22:31,000
Speaker 5: a lot of being dissatisfied.

455
00:22:31,080 --> 00:22:32,719
Speaker 6: I was not happy in college.

456
00:22:33,160 --> 00:22:35,480
Speaker 5: I wasn't happy because I thought I was going to

457
00:22:35,560 --> 00:22:38,760
Speaker 5: be the greatest running back that's ever hit college football.

458
00:22:39,119 --> 00:22:40,160
Speaker 4: And being a.

459
00:22:40,119 --> 00:22:44,840
Speaker 5: Lousy guard and blocking for the running backs that go consequently.

460
00:22:44,880 --> 00:22:46,399
Speaker 6: I was always wanting more.

461
00:22:46,680 --> 00:22:49,640
Speaker 5: But when I was through, I looked back on it

462
00:22:49,680 --> 00:22:51,960
Speaker 5: and all those days that I got it shoved in

463
00:22:52,000 --> 00:22:55,640
Speaker 5: the dirt, all those days that I had disappointment, all

464
00:22:55,680 --> 00:22:59,680
Speaker 5: those days I had one or two for it moments

465
00:22:59,760 --> 00:23:03,040
Speaker 5: at that particular time, and I know that inspired me

466
00:23:03,200 --> 00:23:05,400
Speaker 5: to get to sit here today in this chairby Roger

467
00:23:05,480 --> 00:23:06,760
Speaker 5: Pinsky and be a part of sport.

468
00:23:07,040 --> 00:23:09,040
Speaker 7: When you talk about being part of sports and all

469
00:23:09,160 --> 00:23:10,320
Speaker 7: changes that you've seen.

470
00:23:10,280 --> 00:23:12,240
Speaker 6: I mean, our evaluation is going to go through the roof.

471
00:23:12,480 --> 00:23:14,320
Speaker 3: Have they hit the ceiling and both in your sports,

472
00:23:15,240 --> 00:23:17,639
Speaker 3: I would say it's going to continue to grow. But

473
00:23:17,680 --> 00:23:20,840
Speaker 3: it's interesting that that people own these teams like Jerry does,

474
00:23:21,400 --> 00:23:24,159
Speaker 3: and is it a family ownership or is it going

475
00:23:24,200 --> 00:23:26,280
Speaker 3: to be a capital ownership where you can raise more

476
00:23:26,280 --> 00:23:28,800
Speaker 3: capital to grow. I think you'll look at that as

477
00:23:28,840 --> 00:23:32,280
Speaker 3: an opportunity if there's another expansion opportunity. But I think

478
00:23:32,400 --> 00:23:34,840
Speaker 3: in Indy Car right now, lots of interest.

479
00:23:34,960 --> 00:23:36,919
Speaker 4: We're growing at a rate. We feel good about it.

480
00:23:36,960 --> 00:23:40,359
Speaker 3: Our TV ratings were up, obviously, the tracks have made

481
00:23:40,520 --> 00:23:43,000
Speaker 3: more money this past year. So we're looking at the

482
00:23:43,040 --> 00:23:45,000
Speaker 3: basics We're not an NFL. We're not trying to be

483
00:23:45,080 --> 00:23:47,520
Speaker 3: We're not trying to be Formula one. We think we've

484
00:23:47,560 --> 00:23:51,399
Speaker 3: got the most sophisticated cars. We have this diversity from

485
00:23:51,440 --> 00:23:53,720
Speaker 3: a standpoint of the tracks that we run on, and

486
00:23:53,760 --> 00:23:56,080
Speaker 3: we need to stay in our lane because this.

487
00:23:55,960 --> 00:23:56,760
Speaker 4: World is big.

488
00:23:57,160 --> 00:23:59,040
Speaker 3: There's a lot of people like racing, and I think

489
00:23:59,080 --> 00:24:01,240
Speaker 3: we need to be sure that we're promoting our sport

490
00:24:01,280 --> 00:24:03,520
Speaker 3: every day. And to be able to partner with someone

491
00:24:03,560 --> 00:24:06,720
Speaker 3: like Jerry Jones and the teams down here, it's just amazing.

492
00:24:06,760 --> 00:24:09,399
Speaker 4: It just accelerates us as we go forward for the

493
00:24:09,480 --> 00:24:11,240
Speaker 4: quality of what we're trying to produce.

494
00:24:11,400 --> 00:24:14,399
Speaker 1: And so Jerry, for you on the valuation question, do

495
00:24:14,560 --> 00:24:18,760
Speaker 1: values get higher faster now with all this new money

496
00:24:18,760 --> 00:24:19,080
Speaker 1: coming in?

497
00:24:19,119 --> 00:24:19,560
Speaker 6: Do you think?

498
00:24:19,760 --> 00:24:20,000
Speaker 4: Well?

499
00:24:20,040 --> 00:24:21,399
Speaker 6: I think it's again.

500
00:24:21,560 --> 00:24:25,080
Speaker 5: Capital is important, but it's only one of the ingredients

501
00:24:25,119 --> 00:24:29,200
Speaker 5: from the standpoint of values as far as that's concerned.

502
00:24:29,280 --> 00:24:33,120
Speaker 5: But the big thing that I look at is that

503
00:24:34,880 --> 00:24:40,440
Speaker 5: we are all in different situations. I completely understand. I'm

504
00:24:40,480 --> 00:24:45,439
Speaker 5: from the natural gas business originally, and I coveted getting

505
00:24:45,480 --> 00:24:48,160
Speaker 5: to be a part I went to the five hundred

506
00:24:48,280 --> 00:24:51,760
Speaker 5: up there in Annapolis. I went to those sporting events,

507
00:24:51,880 --> 00:24:55,960
Speaker 5: all the great fights. I just couldn't stay away from sports.

508
00:24:56,400 --> 00:24:58,800
Speaker 5: And I would take people that I was wanting to

509
00:24:58,840 --> 00:25:00,800
Speaker 5: be good to my client, so I'd take them to

510
00:25:00,840 --> 00:25:03,200
Speaker 5: sporting events, I'd hunt with them. I do all those

511
00:25:03,240 --> 00:25:08,200
Speaker 5: things so that if it's there for the use, which

512
00:25:08,200 --> 00:25:12,080
Speaker 5: it is, sports is just getting started in my mind

513
00:25:12,160 --> 00:25:15,760
Speaker 5: in terms of moving the needle, because it is the

514
00:25:15,760 --> 00:25:20,880
Speaker 5: one place that you can get real, real human all

515
00:25:20,920 --> 00:25:25,160
Speaker 5: of this gambit of human emotions, human striving, human wanting

516
00:25:25,200 --> 00:25:28,440
Speaker 5: to improve and put it under the wheel, or you

517
00:25:28,480 --> 00:25:30,600
Speaker 5: can put it out there on that football field and

518
00:25:30,960 --> 00:25:31,879
Speaker 5: make something happen.

519
00:25:31,920 --> 00:25:34,240
Speaker 6: And it's real and pretty good business too.

520
00:25:34,680 --> 00:25:37,719
Speaker 5: Well, it can be. It really can be, and should

521
00:25:37,760 --> 00:25:40,840
Speaker 5: be if you want to go again. I've been criticized

522
00:25:40,880 --> 00:25:44,439
Speaker 5: for people with think, well, I had a little money

523
00:25:44,600 --> 00:25:47,800
Speaker 5: when I bought the Cowboys relative to what it took

524
00:25:47,840 --> 00:25:50,199
Speaker 5: to buy them. I didn't have any money, but I

525
00:25:50,240 --> 00:25:51,960
Speaker 5: had a little bit of money. And I could have

526
00:25:52,040 --> 00:25:55,280
Speaker 5: kept that money. But the hell with the money. I

527
00:25:55,359 --> 00:25:58,159
Speaker 5: spent it all to take a big chance to be

528
00:25:58,240 --> 00:26:01,840
Speaker 5: involved with the die US Cowboys. And I will tell

529
00:26:01,880 --> 00:26:07,040
Speaker 5: you right now that it wasn't everything but the financial success,

530
00:26:07,119 --> 00:26:10,520
Speaker 5: as you went along the way has everything to do

531
00:26:10,720 --> 00:26:15,240
Speaker 5: with why the NFL is the game that it is today.

532
00:26:15,440 --> 00:26:19,879
Speaker 5: You have got to have solid financial underpinning the status

533
00:26:19,920 --> 00:26:25,359
Speaker 5: of these sports involved companies that are competing and the

534
00:26:25,440 --> 00:26:27,640
Speaker 5: fact that they can attract capital is a good deal.

535
00:26:28,880 --> 00:26:30,760
Speaker 8: Roger, what's next for you?

536
00:26:30,880 --> 00:26:33,040
Speaker 1: Just as we as we wrap up here, what's the

537
00:26:33,040 --> 00:26:35,439
Speaker 1: thing you're mostly important in the business of your sport?

538
00:26:35,960 --> 00:26:37,760
Speaker 4: Well, I think it's about growth.

539
00:26:38,320 --> 00:26:41,000
Speaker 3: I think we need to look at there's some international

540
00:26:41,040 --> 00:26:44,760
Speaker 3: opportunity for us that we might look at going forward.

541
00:26:45,080 --> 00:26:47,880
Speaker 3: I think today it is the innovation of the new car,

542
00:26:48,280 --> 00:26:51,520
Speaker 3: this bridging strategy with hybrid which we see on the

543
00:26:51,560 --> 00:26:53,800
Speaker 3: highway today where the beds are not selling.

544
00:26:53,880 --> 00:26:54,320
Speaker 6: Its key.

545
00:26:54,359 --> 00:26:56,240
Speaker 4: We hit the sweet spot there.

546
00:26:56,280 --> 00:26:59,159
Speaker 3: So we'll continue to invest there and again look for

547
00:26:59,320 --> 00:27:02,560
Speaker 3: opportunity like we have here with Jerry and the team

548
00:27:02,560 --> 00:27:06,440
Speaker 3: here in Arlington. In Dallas is amazing. So for me personally,

549
00:27:06,720 --> 00:27:08,760
Speaker 3: that's where we're focused on. We don't want to have

550
00:27:08,800 --> 00:27:11,520
Speaker 3: one hundred races. We want to have the best races

551
00:27:11,680 --> 00:27:14,200
Speaker 3: and bring something to the community. Because when we come

552
00:27:14,240 --> 00:27:16,320
Speaker 3: to the community, we do more than just race. We

553
00:27:16,400 --> 00:27:18,600
Speaker 3: reach out to people that need help. That's one of

554
00:27:18,680 --> 00:27:20,280
Speaker 3: the things that I want to be sure we give

555
00:27:20,359 --> 00:27:21,240
Speaker 3: back going forward,