Speaker 1: Bloomberg Audio Studios, podcasts, radio news. So a very special
Speaker 1: day here in Arlington, Texas. Two guys we have come
Speaker 1: to know pretty well for their achievements in sports. Jerry Jones,
Speaker 1: Roger Penske, thank you so much for being with us
Speaker 1: to talk about a massive project you guys are doing together,
Speaker 1: you know.
Speaker 2: Talking about this massive project. How long have the two
Speaker 2: of you known each other?
Speaker 3: Well, I think we go back twenty five years. I
Speaker 3: think the first time that we met, and I think
Speaker 3: I mentioned it before I had to give a proposal.
Speaker 4: To the owners and Jerry was in the front row.
Speaker 3: I remember to try to get the Super Bowl to
Speaker 3: come to Detroit.
Speaker 4: So we're back here again for another iconic moment.
Speaker 5: Well, it took Roger and a great Detroit group to
Speaker 5: get that super Bowl because there was a mentality of
Speaker 5: manha your super Bowl with a Sunday shouting on January
Speaker 5: we can play golf. And here comes Roger Penske leading
Speaker 5: the charge through the door, saying where this super Bowl
Speaker 5: needs to be is where it can be cold, but
Speaker 5: the feelings will be warm.
Speaker 6: We'll warm it up for you up there.
Speaker 5: And he was unquestionably the figurehead or the face that
Speaker 5: was persuasive to the NFL owners for us to go
Speaker 5: that way.
Speaker 6: Now, the Fords are so.
Speaker 5: Beloved and leading the pack for the Fords would be me.
Speaker 6: I truthfully will tell.
Speaker 5: You that when I got involved in the NFL, one
Speaker 5: of the motivating things was the fact that the Fords.
Speaker 6: Had the Detroit Lines.
Speaker 5: A part of America, part of the automobile business was
Speaker 5: a part of the NFL through the Ford. So I
Speaker 5: was excited about being there and I was very all
Speaker 5: ears open minded when Roger was tiding the Detroit application, Well.
Speaker 3: You made a difference, I can tell you today that
Speaker 3: was really I think the pivot for the city of
Speaker 3: Detroit to Orions today was at Super Bowl in two
Speaker 3: thousand and six.
Speaker 7: And so obviously you stayed in touch over the years.
Speaker 7: So how did this combination of such strong people and
Speaker 7: so many teams actually happen?
Speaker 4: Well, I'd say that it really my son Greg.
Speaker 3: We bought the speedway and off always a series in
Speaker 3: two thousand and we were looking at at major locations
Speaker 3: that we could bring our series to and there was
Speaker 3: no question, you know that Arlington and Dallas just stuck out.
Speaker 3: We need to contact there, So through relationships we had
Speaker 3: with Jerry's team, and certainly that manifested over a number
Speaker 3: of years. It didn't happen overnight, because this is a
Speaker 3: thought process. The fact that how we do business, our
Speaker 3: experience at the Speedway now, I think gives us, I think,
Speaker 3: the capabilities and obviously to be able to come here
Speaker 3: and tell Jerry we're going to come here and bring
Speaker 3: something the way you do business.
Speaker 6: All right, So Jerry talk.
Speaker 8: To us about the scope and scale of this.
Speaker 1: I mean this, They're going to be race cars going
Speaker 1: around these streets in just a few years. What is
Speaker 1: this compared to in terms of what you've done already
Speaker 1: here in Texas?
Speaker 6: Well, The.
Speaker 5: Image, if you will, from looking at five and ten
Speaker 5: thousand feet is that this is a happening that's going
Speaker 5: going on really in not only the Dallas area but
Speaker 5: for the world to see. But the Dallas area is
Speaker 5: having the event, and that.
Speaker 6: Is the key. We're used to appealing to thirty million people.
Speaker 5: And of course our good friends at Fox are going
Speaker 5: to be so involved with us and how to present
Speaker 5: this race.
Speaker 6: I know that for instance, when.
Speaker 5: We had the Super Bowl here, we were just enjoying
Speaker 5: our second year and mister Murdoch called and he said,
Speaker 5: we're going to make the stadium the star of the ship. Well,
Speaker 5: how do you do that when people are looking in
Speaker 5: to see the ball game the Super Bowl? Well they
Speaker 5: were able to do that, And for instance, my ex
Speaker 5: coach Jimmy Johnson and I walked around the stadium and
Speaker 5: talked about old times and talk about some of the
Speaker 5: nuances of the stadium.
Speaker 6: Well, what will.
Speaker 5: Happen here is will not only have millions of people
Speaker 5: that are looking at this race, but we'll share the
Speaker 5: nuances of what this race is about. And it will
Speaker 5: be certainly those cars going two hundred and something miles
Speaker 5: an hour around all these streets and around all these
Speaker 5: great sporting venues, but it will also be about as
Speaker 5: far as the millions of eyes that are looking at
Speaker 5: this thing, It'll be about It'll be about Roger Penske,
Speaker 5: it'll be about cowboys, it'll be about tradition, it'll be
Speaker 5: about sports. But in the medium, it'll be about racing
Speaker 5: along these streets. And I would hope that we're establishing
Speaker 5: something that will last a long time here.
Speaker 7: When you look at this area here, so much has
Speaker 7: developed around.
Speaker 6: At and T Stadium. What is the vision now?
Speaker 7: I mean you're adding this, is this the end or
Speaker 7: are you planning to do more in this area?
Speaker 6: Well, this race, I'll start at Roger.
Speaker 5: This race is a part of the building, if you will,
Speaker 5: of this area personally, the way that I look at
Speaker 5: sports and the interest in sport and what sports brings
Speaker 5: to our society.
Speaker 6: What sports brings to commerce.
Speaker 5: Roger is such an innovator in the world, and he
Speaker 5: took racing and he made it.
Speaker 6: A part of a lot of things. Fox will tell
Speaker 6: you that.
Speaker 5: I'll tell you that I've taken a lot of what
Speaker 5: I've done off watching what Roger Penske does in racing
Speaker 5: relative to selling the sport or selling sports in general.
Speaker 6: That's what this is about. And there's nothing like it.
Speaker 5: Sports that moves the needle where and it can go
Speaker 5: against all kinds of products, services, disciplines. Sports is a
Speaker 5: unique speaks to emotion.
Speaker 3: I think when you look at an anchor tenant, an
Speaker 3: anchor event, and what Jerry's done here to take the
Speaker 3: stadium and build it to just look outside here and
Speaker 3: you can see it, and I think word I use
Speaker 3: every day's utilization. What the City of Arlington's doing is
Speaker 3: taking Jerry and the other teams that are here and
Speaker 3: utilizing you know, their capital. You know there are people
Speaker 3: and their vision to make this much greater. And I
Speaker 3: think we're just going to be a part of that.
Speaker 3: We want to be right part of the woodwork here
Speaker 3: as we go forward.
Speaker 1: And so what are we going to see here, Roger
Speaker 1: in terms of like how many people?
Speaker 8: What's the sort of the economic element to this?
Speaker 1: Because you put on races all over the world about
Speaker 1: seventeen I believe in twenty twenty five for the Indy
Speaker 1: Car Series. What does it look like number of people
Speaker 1: that those.
Speaker 8: Sorts of things.
Speaker 4: Well, I think what we have to do is look
Speaker 4: at other cities where we do business.
Speaker 3: We were in Saint Pete, We're in Long Beach, We're
Speaker 3: in Detroit by the way, and I think that we
Speaker 3: typically on a weekend like this will have between one
Speaker 3: and one hundred and fifty thousand people for the weekend. Yeah,
Speaker 3: we're gonna have twenty seven cars, We'll have great teams here.
Speaker 3: The competition has never been greater, and I think to
Speaker 3: bring this here obviously Fox is our new partner, which
Speaker 3: is going to be terrific.
Speaker 4: Eric Shanks that we're gonna make this series where we
Speaker 4: want to go.
Speaker 3: So I see fast cars, I see a lot of people,
Speaker 3: a lot of interest here. I think we'll see diversity
Speaker 3: from this fan base as we come here, and to me,
Speaker 3: we're gonna make a big difference seeing something different. But
Speaker 3: guess what, we're in one of the greatest stadiums in
Speaker 3: the world coming.
Speaker 4: Here with Jerry Roger.
Speaker 7: There's all types of different car racing, as you know,
Speaker 7: But what is the next big thing in IndyCar?
Speaker 6: What do you think the next big thing is?
Speaker 3: Well, I think that what we've done this year is
Speaker 3: we've taken hybrid. As you know, in the automobile business today,
Speaker 3: hybrid is a bridging strategy and we're now taking that
Speaker 3: into our Indy cars. We'll take that to the next
Speaker 3: level as we get into twenty six and twenty seven beyond,
Speaker 3: and I.
Speaker 4: Think we're going to see more dynamics.
Speaker 3: We're going to see the hybrid technology for a power
Speaker 3: train and obviously the number one thing we're doing with
Speaker 3: a new car is safety.
Speaker 8: So Roger picking up on that racing is having a moment.
Speaker 1: You know, next weekend, a lot of people, hundreds of
Speaker 1: thousands people are going to be down the road in
Speaker 1: Austin at the circuit of the Americas for Formula One.
Speaker 1: How do you punt intended draft off of some of
Speaker 1: what's going on in the broader motorsports world to grow
Speaker 1: your business.
Speaker 3: Well, I think what I've said to our team is
Speaker 3: we got to focus on our business.
Speaker 4: I do that every day Monday through Saturday or Sunday.
Speaker 3: And I think we look at open reel racing we
Speaker 3: have here in the United States. It's the highest technology,
Speaker 3: it's the fastest cars.
Speaker 4: And I think we want to continue that.
Speaker 3: And then it's a diverse Remember we run on street
Speaker 3: courses like here in Arlington, we run it into Applis
Speaker 3: where they qualify at two hundred and forty four miles
Speaker 3: an hour. We're running at permanent road courses. So ours
Speaker 3: is diverse and we're going to keep that. It really
Speaker 3: is our total and that's going to be our monitor.
Speaker 3: Is going to be diversity from the standpoint of the
Speaker 3: types of racing that we do here in the United States.
Speaker 7: You know, Jerry, You've gotten into a lot of businesses,
Speaker 7: but why.
Speaker 6: Did you pick this one?
Speaker 5: Well, first of all, I love sports. Sports is very
Speaker 5: unique in terms of the word business. It's bottom line,
Speaker 5: but it's really not bottom line like you would have
Speaker 5: with the grocery business or the automobile business.
Speaker 6: There's more to it. Sports is about tradition.
Speaker 5: All you have to do is go up here to
Speaker 5: that Saint elmos Tekasse and in Annapolis and be around
Speaker 5: where that where the big graces have been overheld of
Speaker 5: shamp cocktail.
Speaker 4: For that.
Speaker 6: It's about tradition.
Speaker 5: It is about entertainment, and therein lies the innovatedness of
Speaker 5: a man like Roger Pensky or if you will, what
Speaker 5: we can do in the NFL to make it entertaining.
Speaker 6: But here's the deal.
Speaker 5: Real sports is about really putting it on the line.
Speaker 5: It didn't make believe. It isn't staging, it isn't produced.
Speaker 5: Real sports is real competition. Now, these guys behind the wheels,
Speaker 5: they're putting it on the line.
Speaker 6: That's not funny.
Speaker 5: They are competing, and they're competing with everything in my sport.
Speaker 5: In football, those guys have to call on themselves to
Speaker 5: give it up. That's not natural to get out there
Speaker 5: and get in front of three hundred.
Speaker 6: God tells you to get out in front of three hundred,
Speaker 6: not in front of me.
Speaker 5: So when you have sports, it actually calls on people,
Speaker 5: then it transcends other phases of life because out here
Speaker 5: in real life we're having to get called on and
Speaker 5: this didn't make believe out here in real life. So
Speaker 5: sports identifies with that. Then if you put it on,
Speaker 5: then you put it on in a great, great event
Speaker 5: like we're talking about this racing, but yet with Fox
Speaker 5: we're getting to go out in front of millions of people.
Speaker 5: The combination of those things is why I'm sitting in
Speaker 5: this chair.
Speaker 8: And so Roger.
Speaker 1: You know, Jerry brings up a lot of good points
Speaker 1: about sort of the storytelling and the personalities no shortage
Speaker 1: of personalities around the Dallas Cowboys, and including the man
Speaker 1: who's sitting right here in front of us.
Speaker 8: How do you do that in your sport?
Speaker 1: You know, Michael Andretti steps back, you know from what
Speaker 1: he's doing. Who's going to carry the torch forward and
Speaker 1: ensure that Indy car and your racing empires.
Speaker 8: It was just stays in the center of the conversation.
Speaker 3: I'd have to say that you hit it right in
Speaker 3: the middle of the bull's eye. We've got to build stars.
Speaker 3: Jerry's got to build stars, and so do we, And
Speaker 3: I think that builds our brand. I would say for us,
Speaker 3: racing has been a common thread through our company for
Speaker 3: fifty years because it shows TeamWorks, effort, show's integrity. And
Speaker 3: I think from my perspective is we build a sport,
Speaker 3: we've got to give the fan. My son calls them
Speaker 3: guests to come to your stadium, come to your track
Speaker 3: and experience.
Speaker 4: They want to tell their neighbor.
Speaker 3: It's all about telling people I had a great time
Speaker 3: and I want to come back. But then when you
Speaker 3: can put that across a stadium like we have here
Speaker 3: in Arlington, it's a double hit for us. And I
Speaker 3: think our goal is to build the new gardens, you know,
Speaker 3: bild Alex Pelows. We've got some great young guys coming
Speaker 3: up through the through the series. It's like any sport,
Speaker 3: the big guys retire. There's enough jobs for all of
Speaker 3: them to be announcers at this point, so your jobs
Speaker 3: are safe right now anyhow. But I think it's about continuity,
Speaker 3: it's date equity.
Speaker 4: People know we're going to.
Speaker 3: Be at Indianapolis in May, We're going to be in
Speaker 3: March at twenty six, We're going to be in Arlington.
Speaker 4: Those are things that.
Speaker 3: We have to do to draw on this network of
Speaker 3: people and fans that we have around the world.
Speaker 1: And so Jerry, NFL sort of racing never short on
Speaker 1: the headlines.
Speaker 8: I think that's a fair as.
Speaker 1: A largely owing to you. You're you're good at making
Speaker 1: some headlines. We're sitting here with Bloomberg. The biggest headline
Speaker 1: right now is new money coming into the NFL. You
Speaker 1: guys approve private equity coming in. What does that mean
Speaker 1: for you? What does that mean for you as an
Speaker 1: owner and you as the Cowboys.
Speaker 5: When I got into sports, when I got not playing,
Speaker 5: but when I got into sports as it retained business,
Speaker 5: I know football didn't work. The Cowboys were losing one
Speaker 5: million dollars a month cash flow. When I bought the
Speaker 5: Dallas Cowboys, there was there was a great model of publicity,
Speaker 5: huge coverage in media, But that's not marketing. Marketing is
Speaker 5: when you use the pub and you use the interest
Speaker 5: to have enough left over to come back and get
Speaker 5: to go again.
Speaker 6: Well, sports is it? To Pro football was almost a charity.
Speaker 5: It had to be really wealthy to be involved.
Speaker 6: I was not that wealthy to be involved.
Speaker 5: So you had to have a model that somehow brought
Speaker 5: the juice back. No school, no family, no city, nobody
Speaker 5: can be for what they have potential to be.
Speaker 6: If they're broke, you have to have.
Speaker 5: Some financial substance to really show out and be everything
Speaker 5: you can be for entertainment. Consequently, the business model for
Speaker 5: me has always been a major interest for us. And consequently,
Speaker 5: sitting here with Roger Penske, this is running with the
Speaker 5: ball off tackle.
Speaker 6: This has helping football to be sitting here with Roger.
Speaker 5: This has helping racing to be sitting here and a
Speaker 5: part of the NFL and doing the races around these
Speaker 5: type of venues.
Speaker 6: It's cross promotion, but it's all real. It's very real.
Speaker 6: It's sports. I had a guy at one time, tell
Speaker 6: as Dan Burke.
Speaker 5: He was chairman of cap Cities, and he said, Jerry,
Speaker 5: you're at the right time of year. You're in the fall.
Speaker 5: It's wanted like to have the people in front of
Speaker 5: the TV screen to make decisions.
Speaker 4: He said.
Speaker 5: Secondly, you got the right breaks, unintrusive break so that
Speaker 5: we can say some messages. Put all that on the side.
Speaker 5: What it is you're a soap opera three hundred and
Speaker 5: fifty days a year. You've got them, You've got them
Speaker 5: talking about them because You've got so many guys, so
Speaker 5: many people out here creating stories three hundred and sixty
Speaker 5: five days a year. He said, when we make a
Speaker 5: movie at ABC, when we make a movie, we have
Speaker 5: spent as much to promote it as we do to
Speaker 5: make the movie. Football does that for us when you
Speaker 5: promote it, And he said, it shouldn't be powderpuff stuff either.
Speaker 6: Ought to have a.
Speaker 5: Little controversy with it. So with that in mind, right
Speaker 5: off the bat, it influenced me. When it gets slow
Speaker 5: around the Cowboys, I stir the butt.
Speaker 8: I think we have the recidi. We all have the
Speaker 8: receipts through that.
Speaker 1: So given that you have built inarguably the world's most
Speaker 1: valuable sports franchise, now with institutional money coming in, how
Speaker 1: does that affect you.
Speaker 8: Do you think about selling mistake or is that for
Speaker 8: the other.
Speaker 6: Folks in the league to do well.
Speaker 5: My complete thought is the viability of the game, viability
Speaker 5: of sport, And anytime you have attractive place to attract capital,
Speaker 5: then that gives you a sense of the strength or
Speaker 5: the viability of the sport.
Speaker 6: So when I look ahead from now, as I.
Speaker 5: Look into the future, that being able to take and
Speaker 5: sell parts of these teams, the demand being there to
Speaker 5: invest for parts of the team going forward, because I
Speaker 5: think there's huge growth left. When I look at that,
Speaker 5: I see a plus for a running off tackle and
Speaker 5: throwing touchdown passes for the game.
Speaker 6: Except I've got.
Speaker 7: To imagine your phone's blowing out with people that are interested.
Speaker 6: Well, I'll say that I never thought that.
Speaker 5: My family's involved and have been involved from the very beginning.
Speaker 5: It's the very best part of having been with the
Speaker 5: Dallas Cowboys all these years is to have my entire family.
Speaker 5: As a matter of fact, the things that I usually
Speaker 5: get credit for were not only their ideas that my
Speaker 5: children executed them for us, including my wife, who was
Speaker 5: very involved with what we're doing.
Speaker 6: So the involvement, you know, I test.
Speaker 5: I'm here to say that I thought I'd done a
Speaker 5: little something when I bought the team. I knew I
Speaker 5: had a rough road ahead because it financially didn't work.
Speaker 5: I had no idea that being a part of my passion,
Speaker 5: something that passionate that I was about, that that would
Speaker 5: cause me to try things that works, let's try it
Speaker 5: again and keep trying. And it caused me because I
Speaker 5: was in my passion to do something, I never thought
Speaker 5: I could ever attain or even try to do.
Speaker 2: So we're sitting here right by at and T Stadium,
Speaker 2: You're going to see cars going on. When both of
Speaker 2: you think about this and what it's going to mean
Speaker 2: to Dallas into racing, you know what goes through both
Speaker 2: of your minds.
Speaker 3: Well, I think one thing that we can't miss here
Speaker 3: the stature of the sport, whether it's the NFL, it's
Speaker 3: the IndyCar, is the brand. And think about the sponsors
Speaker 3: because of what we've done in an IndyCar and what
Speaker 3: Jerry's done with the team in the NFL.
Speaker 4: That's the bedrock here. We talk about people that want
Speaker 4: to invest.
Speaker 3: They see the value here and that's one of the
Speaker 3: most important things we can do is maintain the credibility
Speaker 3: for our guests and our fans that they come to
Speaker 3: these events because that capital outside maybe not the capital inside,
Speaker 3: that capital is spending money every weekend on television and
Speaker 3: other areas.
Speaker 4: Is critical to keep this value up.
Speaker 3: So we own that have to be sure that we
Speaker 3: provide the highest level of an experience for people. So
Speaker 3: I look at it execution on race day, execution on
Speaker 3: game day, but also be sure that we give our
Speaker 3: sponsors what they need so they can continue to invest.
Speaker 4: Certainly, it's key to the television networks too.
Speaker 6: I'd add this to it.
Speaker 5: As these cars are competing, and at that level of competition,
Speaker 5: they're going to drive by.
Speaker 6: The new, brand new, brand new.
Speaker 5: National Museum of the Medal of Honor for our great
Speaker 5: American heroes. It's being built not a mile from where
Speaker 5: we're sitting here having this interview.
Speaker 6: The point I'm trying to make is.
Speaker 5: Is that sport is a part of what's happening in America,
Speaker 5: and in.
Speaker 6: That case of the Medal of Honored recipients.
Speaker 5: How we got here and how we maintain being a
Speaker 5: part of America is the bravery and the heroes that
Speaker 5: fought for us in the wars. Those with what you
Speaker 5: do when it's real competition, not made up competition, when
Speaker 5: it's really on the line, And that's the attraction now
Speaker 5: to come along and fix it. For stadiums, for suites,
Speaker 5: for the great ways.
Speaker 6: That we present them.
Speaker 5: You know, before the Cowboys, I would take people hunting,
Speaker 5: and I would take them hunting because I wanted them
Speaker 5: to be sweet to me. I wanted them to help
Speaker 5: me in my business. Well to me, sports was just
Speaker 5: a natural way to take advantage of showing someone what
Speaker 5: you care of.
Speaker 6: How about going.
Speaker 5: Out to the Great Race in Annapolis five hundred, Those
Speaker 5: are the places for sports.
Speaker 1: So Roger, you know, we talked a little bit about
Speaker 1: the investment coming into the NFL. What is the investment
Speaker 1: case for Indy Car for the rest of racing right now?
Speaker 1: Where's the new money coming from? What are you hearing?
Speaker 1: We know people are knocking on Jerry's door and his
Speaker 1: fellow owners. How's it going for you in terms of
Speaker 1: drawing new investment and where do you see that coming?
Speaker 3: Well, I think I think you've seen a lot of
Speaker 3: this capital go into Formula One owning teams. We've seen
Speaker 3: this from a charter. We put charters in here in
Speaker 3: the last couple of months in INDYCARSOS NASCAR, So we're
Speaker 3: seeing people that want to invest in a charter and
Speaker 3: build a team. So to me, it's again it's the
Speaker 3: experience and we're using it as a tool to drive
Speaker 3: our marketing and our companies, and that's how we sell sponsorship.
Speaker 3: You know, we look at our revenue in our in
Speaker 3: our motor sports and our pencate it's about four hundred
Speaker 3: million a year, and you think about it. We started out,
Speaker 3: you know, with a two hundred and fifty dollars sponsor.
Speaker 3: That's how we started out, to think about So we've
Speaker 3: been able to take this and take it to where
Speaker 3: it is today because obviously it's in my blood, but
Speaker 3: we've seen it in such a great tool to take
Speaker 3: care of these people that want to see sports. And
Speaker 3: you win, you lose more than you win, don't we
Speaker 3: Jered think about that. We don't win every race, and
Speaker 3: we don't win every day, but again, it keeps us motivating.
Speaker 3: And I think that's the great thing about.
Speaker 4: Sports and the emotion, the emotion around winning.
Speaker 5: You just can't you can't buy it, you know, Roger,
Speaker 5: you talk about my experience on winning.
Speaker 6: Only about two percent of the time.
Speaker 5: In my mind, do you have feeling around sports? Sports
Speaker 5: is work to participate.
Speaker 6: Just think about it. As a player, it's go to
Speaker 6: work time. That's nothing.
Speaker 5: Now again I mentioned natural, it's go to work. It's
Speaker 5: a lot of being dissatisfied.
Speaker 6: I was not happy in college.
Speaker 5: I wasn't happy because I thought I was going to
Speaker 5: be the greatest running back that's ever hit college football.
Speaker 4: And being a.
Speaker 5: Lousy guard and blocking for the running backs that go consequently.
Speaker 6: I was always wanting more.
Speaker 5: But when I was through, I looked back on it
Speaker 5: and all those days that I got it shoved in
Speaker 5: the dirt, all those days that I had disappointment, all
Speaker 5: those days I had one or two for it moments
Speaker 5: at that particular time, and I know that inspired me
Speaker 5: to get to sit here today in this chairby Roger
Speaker 5: Pinsky and be a part of sport.
Speaker 7: When you talk about being part of sports and all
Speaker 7: changes that you've seen.
Speaker 6: I mean, our evaluation is going to go through the roof.
Speaker 3: Have they hit the ceiling and both in your sports,
Speaker 3: I would say it's going to continue to grow. But
Speaker 3: it's interesting that that people own these teams like Jerry does,
Speaker 3: and is it a family ownership or is it going
Speaker 3: to be a capital ownership where you can raise more
Speaker 3: capital to grow. I think you'll look at that as
Speaker 3: an opportunity if there's another expansion opportunity. But I think
Speaker 3: in Indy Car right now, lots of interest.
Speaker 4: We're growing at a rate. We feel good about it.
Speaker 3: Our TV ratings were up, obviously, the tracks have made
Speaker 3: more money this past year. So we're looking at the
Speaker 3: basics We're not an NFL. We're not trying to be
Speaker 3: We're not trying to be Formula one. We think we've
Speaker 3: got the most sophisticated cars. We have this diversity from
Speaker 3: a standpoint of the tracks that we run on, and
Speaker 3: we need to stay in our lane because this.
Speaker 4: World is big.
Speaker 3: There's a lot of people like racing, and I think
Speaker 3: we need to be sure that we're promoting our sport
Speaker 3: every day. And to be able to partner with someone
Speaker 3: like Jerry Jones and the teams down here, it's just amazing.
Speaker 4: It just accelerates us as we go forward for the
Speaker 4: quality of what we're trying to produce.
Speaker 1: And so Jerry, for you on the valuation question, do
Speaker 1: values get higher faster now with all this new money
Speaker 1: coming in?
Speaker 6: Do you think?
Speaker 4: Well?
Speaker 6: I think it's again.
Speaker 5: Capital is important, but it's only one of the ingredients
Speaker 5: from the standpoint of values as far as that's concerned.
Speaker 5: But the big thing that I look at is that
Speaker 5: we are all in different situations. I completely understand. I'm
Speaker 5: from the natural gas business originally, and I coveted getting
Speaker 5: to be a part I went to the five hundred
Speaker 5: up there in Annapolis. I went to those sporting events,
Speaker 5: all the great fights. I just couldn't stay away from sports.
Speaker 5: And I would take people that I was wanting to
Speaker 5: be good to my client, so I'd take them to
Speaker 5: sporting events, I'd hunt with them. I do all those
Speaker 5: things so that if it's there for the use, which
Speaker 5: it is, sports is just getting started in my mind
Speaker 5: in terms of moving the needle, because it is the
Speaker 5: one place that you can get real, real human all
Speaker 5: of this gambit of human emotions, human striving, human wanting
Speaker 5: to improve and put it under the wheel, or you
Speaker 5: can put it out there on that football field and
Speaker 5: make something happen.
Speaker 6: And it's real and pretty good business too.
Speaker 5: Well, it can be. It really can be, and should
Speaker 5: be if you want to go again. I've been criticized
Speaker 5: for people with think, well, I had a little money
Speaker 5: when I bought the Cowboys relative to what it took
Speaker 5: to buy them. I didn't have any money, but I
Speaker 5: had a little bit of money. And I could have
Speaker 5: kept that money. But the hell with the money. I
Speaker 5: spent it all to take a big chance to be
Speaker 5: involved with the die US Cowboys. And I will tell
Speaker 5: you right now that it wasn't everything but the financial success,
Speaker 5: as you went along the way has everything to do
Speaker 5: with why the NFL is the game that it is today.
Speaker 5: You have got to have solid financial underpinning the status
Speaker 5: of these sports involved companies that are competing and the
Speaker 5: fact that they can attract capital is a good deal.
Speaker 8: Roger, what's next for you?
Speaker 1: Just as we as we wrap up here, what's the
Speaker 1: thing you're mostly important in the business of your sport?
Speaker 4: Well, I think it's about growth.
Speaker 3: I think we need to look at there's some international
Speaker 3: opportunity for us that we might look at going forward.
Speaker 3: I think today it is the innovation of the new car,
Speaker 3: this bridging strategy with hybrid which we see on the
Speaker 3: highway today where the beds are not selling.
Speaker 6: Its key.
Speaker 4: We hit the sweet spot there.
Speaker 3: So we'll continue to invest there and again look for
Speaker 3: opportunity like we have here with Jerry and the team
Speaker 3: here in Arlington. In Dallas is amazing. So for me personally,
Speaker 3: that's where we're focused on. We don't want to have
Speaker 3: one hundred races. We want to have the best races
Speaker 3: and bring something to the community. Because when we come
Speaker 3: to the community, we do more than just race. We
Speaker 3: reach out to people that need help. That's one of
Speaker 3: the things that I want to be sure we give
Speaker 3: back going forward,