1 00:00:02,480 --> 00:00:07,080 Speaker 1: Bloomberg Audio Studios, podcasts, radio News. 2 00:00:08,240 --> 00:00:10,240 Speaker 2: This is the business of soccer. 3 00:00:10,360 --> 00:00:13,600 Speaker 1: They Appa DIVERSAA in this country is here just say 4 00:00:13,840 --> 00:00:16,960 Speaker 1: the Global World Cup of twenty six will bring just 5 00:00:17,000 --> 00:00:18,720 Speaker 1: that the globe to the United States. 6 00:00:18,840 --> 00:00:21,079 Speaker 2: Every four years, you know, there's this moment where the 7 00:00:21,120 --> 00:00:23,919 Speaker 2: world wakes up to the incredible athletes that we have 8 00:00:24,120 --> 00:00:25,520 Speaker 2: on the US women's national team. 9 00:00:25,680 --> 00:00:28,640 Speaker 1: There are more soccer games available to watch on television 10 00:00:28,680 --> 00:00:31,120 Speaker 1: in the US than any other country in the world. 11 00:00:31,240 --> 00:00:33,480 Speaker 2: Soccer, or as I recall it, living in the UK, 12 00:00:33,560 --> 00:00:35,880 Speaker 2: football is the biggest sport in the world. There's a 13 00:00:35,920 --> 00:00:38,720 Speaker 2: gap in the market around women's soccer, and we're here 14 00:00:38,800 --> 00:00:43,880 Speaker 2: to fill that gap. Bloomberg Business of Soccer from Bloomberg Radio. 15 00:00:45,560 --> 00:00:48,440 Speaker 2: This is a special edition of the Bloomberg Business of Sports, 16 00:00:48,440 --> 00:00:51,599 Speaker 2: The Business of Soccer. I'm Vanessa Prodomo Maglione and I'm 17 00:00:51,720 --> 00:00:54,120 Speaker 2: diving in behind the scenes of the beautiful game as 18 00:00:54,160 --> 00:00:56,560 Speaker 2: we get ready for the twenty twenty six FIFA World 19 00:00:56,600 --> 00:00:59,400 Speaker 2: Cup in just a few days now. We're looking at 20 00:00:59,440 --> 00:01:01,560 Speaker 2: all aspects of the business of soccer, not just the 21 00:01:01,600 --> 00:01:04,000 Speaker 2: World Cup. We are looking at the global football market 22 00:01:04,040 --> 00:01:07,120 Speaker 2: and the money behind the most popular sport in the world. Today, 23 00:01:07,120 --> 00:01:09,240 Speaker 2: we are joined in the studio by Matt Rizzetta. He's 24 00:01:09,280 --> 00:01:12,240 Speaker 2: the founder and managing partner of Underdog Global Partners, a 25 00:01:12,280 --> 00:01:16,200 Speaker 2: private equity firm whose sports entities include Campobasso FC and 26 00:01:16,319 --> 00:01:19,640 Speaker 2: Napoli Basketball. Welcome to the Bloomberg Business of soccer, Matt. 27 00:01:19,680 --> 00:01:21,960 Speaker 2: We're excited to have you in the studio today and 28 00:01:22,120 --> 00:01:25,840 Speaker 2: to kick off this conversation, just introduce us to Underdog 29 00:01:25,920 --> 00:01:26,920 Speaker 2: and what your mission is there. 30 00:01:27,040 --> 00:01:29,080 Speaker 1: Well, Vanessa, first off, thanks for having me. It's a 31 00:01:29,080 --> 00:01:31,640 Speaker 1: pleasure to be here. In fact, it's crazy that the 32 00:01:31,640 --> 00:01:33,240 Speaker 1: World Cup is just a week away. We're just talking 33 00:01:33,280 --> 00:01:37,200 Speaker 1: about this before the absolutely nuts. It's like five years, 34 00:01:37,240 --> 00:01:39,600 Speaker 1: six years just flashed before our eyes and it's here. 35 00:01:40,280 --> 00:01:42,200 Speaker 1: So it's great to be here. My name is Matt Rizetta, 36 00:01:42,280 --> 00:01:45,400 Speaker 1: as you mentioned, founder and managing partner of Underdog Global Partners. 37 00:01:45,920 --> 00:01:49,040 Speaker 1: So we're focused. We're private equity firm, as you mention mentioned, 38 00:01:49,040 --> 00:01:54,400 Speaker 1: focused on the business of investing and operating undervalued sports assets. 39 00:01:54,440 --> 00:01:57,840 Speaker 1: We have three subsidiaries. One houses are sports franchises, so 40 00:01:57,880 --> 00:02:01,560 Speaker 1: we right now on four professionals sports franchises soccer and 41 00:02:01,600 --> 00:02:05,040 Speaker 1: basketball teams all over the world. Our second is real estate, 42 00:02:05,080 --> 00:02:08,760 Speaker 1: so we do a lot of infrastructure projects related to arenas, academies, 43 00:02:08,960 --> 00:02:11,880 Speaker 1: sports related real estate developments. And then we have an 44 00:02:11,919 --> 00:02:16,320 Speaker 1: advisory subsidiary which focuses on putting deals together for other 45 00:02:16,639 --> 00:02:19,360 Speaker 1: private equity partners and high net worth and family offices 46 00:02:19,360 --> 00:02:21,960 Speaker 1: in our network who are also looking to jump into 47 00:02:22,000 --> 00:02:24,560 Speaker 1: the sports journey, which now has become sports has become, 48 00:02:24,600 --> 00:02:27,400 Speaker 1: as you know better than anybody, a true asset class, 49 00:02:27,400 --> 00:02:29,480 Speaker 1: and we're really proud to be part of it. I 50 00:02:29,520 --> 00:02:33,000 Speaker 1: didn't expect to find myself at this stage of my 51 00:02:33,040 --> 00:02:35,120 Speaker 1: career in the business of sports, and my journey, I think, 52 00:02:35,200 --> 00:02:37,480 Speaker 1: is a little unique, you know, as an operator, I 53 00:02:37,520 --> 00:02:39,320 Speaker 1: started in marketing and media. I don't know if you 54 00:02:39,360 --> 00:02:40,040 Speaker 1: want to get. 55 00:02:39,880 --> 00:02:42,520 Speaker 2: Itah, I get into that. It's obviously very interesting. How 56 00:02:42,560 --> 00:02:45,320 Speaker 2: you get to the point where you then start investing 57 00:02:45,360 --> 00:02:47,600 Speaker 2: into sports seems, like you said, as an asset class. 58 00:02:47,960 --> 00:02:50,519 Speaker 1: So my background is actually on the media and marketing side, 59 00:02:50,520 --> 00:02:52,960 Speaker 1: which being here in Bloomberg gives me a lot of 60 00:02:53,000 --> 00:02:55,079 Speaker 1: motivation and brings me back to my old days. I 61 00:02:55,120 --> 00:02:56,239 Speaker 1: used to spend a lot of time here when I 62 00:02:56,280 --> 00:02:59,320 Speaker 1: had my agency. I started a media and marketing agency 63 00:02:59,360 --> 00:03:02,119 Speaker 1: called Norse six Agency in late two thousand and nine. 64 00:03:02,160 --> 00:03:05,440 Speaker 1: It was actually named North six Agency after North Sixth Avenue, 65 00:03:05,760 --> 00:03:09,000 Speaker 1: which was the street where my grandparents Italian immigrants immigrated 66 00:03:09,040 --> 00:03:10,600 Speaker 1: to here in Mount Vern in New York, just north 67 00:03:10,639 --> 00:03:13,080 Speaker 1: of the Bronx. And we just built, you know, we 68 00:03:13,080 --> 00:03:15,359 Speaker 1: built a great business. Put my head down, built the 69 00:03:15,400 --> 00:03:17,880 Speaker 1: business from my basement, worked my butt off, and over 70 00:03:17,919 --> 00:03:19,760 Speaker 1: the span of about a decade or so, we turned 71 00:03:19,760 --> 00:03:23,840 Speaker 1: it into one of the top fifty independently held media 72 00:03:23,919 --> 00:03:27,040 Speaker 1: and marketing firms. It privately held media and marketing firms 73 00:03:27,080 --> 00:03:30,280 Speaker 1: in the US. And I exited the business and wanted 74 00:03:30,320 --> 00:03:33,520 Speaker 1: to just start doing something new. I couldn't retire. In fact, 75 00:03:33,520 --> 00:03:35,160 Speaker 1: my family, my wife, my kids, There's no way they 76 00:03:35,160 --> 00:03:38,040 Speaker 1: would let me retire. So I wanted to just dedicate 77 00:03:38,120 --> 00:03:40,800 Speaker 1: my life to things I was more passionate about. It 78 00:03:40,840 --> 00:03:44,000 Speaker 1: was a dream of mine to buy the soccer team 79 00:03:44,040 --> 00:03:46,280 Speaker 1: where my grandparents immigrated from and kind of build this 80 00:03:46,400 --> 00:03:49,760 Speaker 1: Cinderella story and build them back to a top club 81 00:03:49,760 --> 00:03:52,960 Speaker 1: in Italy. It was twenty nineteen, twenty twenty, so this 82 00:03:53,120 --> 00:03:56,200 Speaker 1: was just when Ryan Reynolds was getting involved with Wrexham 83 00:03:56,200 --> 00:03:57,280 Speaker 1: and I was like, you know what I think we 84 00:03:57,320 --> 00:03:59,920 Speaker 1: could do a very similar thing out in Italy with 85 00:04:00,080 --> 00:04:03,160 Speaker 1: this club called Compobasso, and that's how I got started 86 00:04:03,160 --> 00:04:06,040 Speaker 1: in this. We wound up joining hands with some great 87 00:04:06,080 --> 00:04:10,840 Speaker 1: partners behind me. Marcnswello's Kelly Rippa joined our project, Dan Doyle, 88 00:04:10,920 --> 00:04:12,920 Speaker 1: Angelo Pasto. I mean, these are all guys who have 89 00:04:13,240 --> 00:04:15,760 Speaker 1: really backed me for quite a long time now, and 90 00:04:15,800 --> 00:04:18,720 Speaker 1: we just turned Compobasso into the Cinderella story. We took 91 00:04:18,800 --> 00:04:22,160 Speaker 1: it from a fifth tier amateur team. We won two championships, 92 00:04:22,600 --> 00:04:25,880 Speaker 1: two promotions. This just this past season we finished fourth 93 00:04:25,880 --> 00:04:27,640 Speaker 1: and SETI A CHI we were only a few wins 94 00:04:27,640 --> 00:04:29,560 Speaker 1: away from a promotion to SETI A B, which for 95 00:04:29,600 --> 00:04:31,680 Speaker 1: that fan base would be the first time in forty 96 00:04:31,720 --> 00:04:34,039 Speaker 1: some odd years they would be in the second tier. 97 00:04:34,440 --> 00:04:36,480 Speaker 1: And that's how I got started in sports ownership. And then, 98 00:04:36,520 --> 00:04:38,400 Speaker 1: just like anything else, you know, you build a network 99 00:04:38,440 --> 00:04:41,279 Speaker 1: and you learn, and I started to study more of 100 00:04:41,320 --> 00:04:43,640 Speaker 1: the business side, so my passion turned into more of 101 00:04:43,680 --> 00:04:48,120 Speaker 1: an enterprising, you know, business entrepreneurial mindset, and we wound 102 00:04:48,160 --> 00:04:50,320 Speaker 1: up acquiring other assets and then we rolled all of 103 00:04:50,320 --> 00:04:54,159 Speaker 1: these assets into what today is Underdog Global Partners, and 104 00:04:54,200 --> 00:04:55,760 Speaker 1: for me, it's been an incredible journey. I mean to 105 00:04:55,800 --> 00:04:57,400 Speaker 1: wake up and get out of bed every day and 106 00:04:57,760 --> 00:05:00,440 Speaker 1: love what I do and work in my passion comes 107 00:05:00,480 --> 00:05:02,240 Speaker 1: with a lot of obviously, it comes with the same 108 00:05:02,279 --> 00:05:04,920 Speaker 1: pressures and stresses that anything else does. And I'm still 109 00:05:05,000 --> 00:05:07,440 Speaker 1: learning in many ways. But I have great, great partners 110 00:05:07,440 --> 00:05:09,320 Speaker 1: around us, and I tell my kids all the time, 111 00:05:09,560 --> 00:05:11,520 Speaker 1: if you get out of school and you can spend 112 00:05:12,040 --> 00:05:13,760 Speaker 1: you can spend every day of your life working in 113 00:05:13,760 --> 00:05:16,360 Speaker 1: your passion, you've certainly done something right. And that's that's 114 00:05:16,360 --> 00:05:16,920 Speaker 1: how I feel. 115 00:05:17,040 --> 00:05:19,479 Speaker 2: Yeah, absolutely, I mean like being able to especially like 116 00:05:19,520 --> 00:05:21,720 Speaker 2: you said, work in and buy the team that your 117 00:05:21,720 --> 00:05:25,359 Speaker 2: grandparents you know, were from about that and trying to 118 00:05:25,400 --> 00:05:28,880 Speaker 2: build up club teams from a certain like from the 119 00:05:29,080 --> 00:05:31,880 Speaker 2: level five two level three two hopefully to Syria A 120 00:05:31,960 --> 00:05:34,640 Speaker 2: at the time tell us about the business of building 121 00:05:34,720 --> 00:05:37,520 Speaker 2: smaller club teams into hoping to grow them to the 122 00:05:37,560 --> 00:05:38,239 Speaker 2: top level. 123 00:05:38,440 --> 00:05:40,400 Speaker 1: Well, what I found quickly, Vanessa, was that a lot 124 00:05:40,400 --> 00:05:42,560 Speaker 1: of the clubs in Italy, in Europe, not just in 125 00:05:42,560 --> 00:05:45,400 Speaker 1: Italy but in Europe, regardless of the level, they weren't 126 00:05:45,600 --> 00:05:49,359 Speaker 1: commercialized properly. So on one hand, the beauty of the 127 00:05:49,400 --> 00:05:53,159 Speaker 1: clubs and the asset is that they're so rooted in 128 00:05:53,200 --> 00:05:56,479 Speaker 1: their community and the culture, the culture is, the culture 129 00:05:56,560 --> 00:05:59,320 Speaker 1: is so incredible over there. It's you know, it's it's visceral, 130 00:05:59,360 --> 00:06:01,880 Speaker 1: it's passion, and you can't put a price on that. 131 00:06:02,279 --> 00:06:04,120 Speaker 1: But on the commercial side, there was a lot of 132 00:06:04,120 --> 00:06:06,440 Speaker 1: what I viewed as low hanging fruit that just wasn't 133 00:06:06,440 --> 00:06:10,800 Speaker 1: being optimized or prioritized properly. So for example, you know, 134 00:06:10,839 --> 00:06:14,040 Speaker 1: building media rights, you know, putting the games on streaming TV, 135 00:06:14,360 --> 00:06:18,880 Speaker 1: merchandising in our case, sponsorships. You know. The Compobasso project 136 00:06:18,920 --> 00:06:21,599 Speaker 1: for me was very interesting because there's about three hundred 137 00:06:21,640 --> 00:06:24,200 Speaker 1: thousand people who live in that region in Italy, but 138 00:06:24,279 --> 00:06:27,440 Speaker 1: there's one point two million immigrants from that region of 139 00:06:27,480 --> 00:06:30,200 Speaker 1: Italy who live in the United States and Canada. So 140 00:06:30,279 --> 00:06:32,560 Speaker 1: our vision and my vision for that project was really 141 00:06:32,600 --> 00:06:36,040 Speaker 1: to export Compobasso into North America and use that as 142 00:06:36,080 --> 00:06:38,800 Speaker 1: a way to engage fans and sponsors and really create 143 00:06:38,880 --> 00:06:41,920 Speaker 1: a platform that represented the underdog hence you know, Underdog 144 00:06:41,920 --> 00:06:44,320 Speaker 1: Global Partners. Obviously, I thought it was just a really 145 00:06:44,320 --> 00:06:48,800 Speaker 1: great platform for that represented the underdog values and the 146 00:06:48,880 --> 00:06:52,000 Speaker 1: underdog journey that you know that my life represented, and 147 00:06:52,200 --> 00:06:54,080 Speaker 1: you know, I have so much I have so much. 148 00:06:54,360 --> 00:06:56,279 Speaker 1: I have a debt of gratitude obviously to my grandparents 149 00:06:56,320 --> 00:06:59,360 Speaker 1: and my parents who came here and sacrificed so much 150 00:06:59,400 --> 00:07:02,039 Speaker 1: for me and for my family members, and I felt 151 00:07:02,040 --> 00:07:04,520 Speaker 1: like this club, in a small way, could really represent 152 00:07:04,560 --> 00:07:08,240 Speaker 1: those values. And just in on the commercial side, none 153 00:07:08,240 --> 00:07:10,640 Speaker 1: of those things. I think that that storytelling, and that 154 00:07:11,080 --> 00:07:13,240 Speaker 1: there's a lot of media that goes behind that that 155 00:07:13,360 --> 00:07:16,760 Speaker 1: just wasn't being wasn't being leveraged properly. So that was 156 00:07:16,800 --> 00:07:18,440 Speaker 1: the first thing we concentrated on, was just how do 157 00:07:18,480 --> 00:07:22,280 Speaker 1: we tell this story in a way that engages fans 158 00:07:22,320 --> 00:07:24,800 Speaker 1: that are not just soccer fans, but really can relate 159 00:07:24,840 --> 00:07:27,640 Speaker 1: to this underdog journey and this immigrant journey that really 160 00:07:27,640 --> 00:07:29,440 Speaker 1: brought me to the investment in the first place. 161 00:07:30,040 --> 00:07:32,880 Speaker 2: And can you explain a little bit about the different 162 00:07:33,400 --> 00:07:35,920 Speaker 2: the tier system Obviously, I think when people think of, 163 00:07:36,080 --> 00:07:38,160 Speaker 2: you know, promotion and things like that, Obviously we talk 164 00:07:38,200 --> 00:07:40,680 Speaker 2: about Rexham like you had mentioned, and people kind of 165 00:07:40,760 --> 00:07:44,560 Speaker 2: understand how promotion works, but what is the differences in 166 00:07:44,600 --> 00:07:47,760 Speaker 2: the business at those different points, at those different tiers. 167 00:07:47,840 --> 00:07:50,840 Speaker 1: So it's funny, Vanessa, because obviously I'm an entrepreneur, so 168 00:07:50,840 --> 00:07:53,240 Speaker 1: I'm sort of an internal optimist. You know, you talk 169 00:07:53,240 --> 00:07:56,560 Speaker 1: about risk tolerance. You know, I'm definitely on more of 170 00:07:56,600 --> 00:07:58,960 Speaker 1: the more of the aggressive side of risk tolerance. So 171 00:07:59,000 --> 00:08:02,000 Speaker 1: I always look at promotion relegation as a blessing because 172 00:08:02,040 --> 00:08:04,360 Speaker 1: you can in our case, like in Compobasso, you can 173 00:08:04,400 --> 00:08:07,040 Speaker 1: go rescue a team or buy an asset that is 174 00:08:07,080 --> 00:08:09,280 Speaker 1: extremely undervalued. It needs a lot of work, you know, 175 00:08:09,320 --> 00:08:11,400 Speaker 1: because don't get me wrong, it takes a lot of 176 00:08:11,400 --> 00:08:14,040 Speaker 1: work to get these clubs promoted. And it's sports, so 177 00:08:14,080 --> 00:08:16,800 Speaker 1: at the end of the day, there's no guarantees. But 178 00:08:16,920 --> 00:08:19,040 Speaker 1: the upside, the upside is there. You know, if you 179 00:08:19,120 --> 00:08:21,360 Speaker 1: accomplish what you set out to accomplish and you bring 180 00:08:21,400 --> 00:08:23,000 Speaker 1: the team up in tiers, you know, you buy an 181 00:08:23,040 --> 00:08:26,000 Speaker 1: asset for you know, for one X, and two or 182 00:08:26,000 --> 00:08:28,160 Speaker 1: three years later that asset is worth fifteen X and 183 00:08:28,200 --> 00:08:30,440 Speaker 1: it's incredible. But the flip side to that is the 184 00:08:30,520 --> 00:08:33,240 Speaker 1: relegation side, where I've seen just as many in fact, 185 00:08:33,240 --> 00:08:37,360 Speaker 1: I've seen many more stories of foreign investors, American investors 186 00:08:37,440 --> 00:08:40,760 Speaker 1: go into these European clubs who maybe were in over 187 00:08:40,800 --> 00:08:42,800 Speaker 1: their head. They didn't have the right network, they didn't 188 00:08:42,840 --> 00:08:46,360 Speaker 1: understand the local you know, cultural nuances, they didn't speak 189 00:08:46,360 --> 00:08:49,240 Speaker 1: the language, they didn't know soccer whatever for one reason 190 00:08:49,320 --> 00:08:51,600 Speaker 1: or another, and they wound up taking a team from 191 00:08:51,640 --> 00:08:53,160 Speaker 1: the first or second tier. And then all of a 192 00:08:53,160 --> 00:08:54,920 Speaker 1: sudden they pick their eyes up there, you know, they're 193 00:08:54,920 --> 00:08:57,560 Speaker 1: open their eyes, and two or three years later, guess what, 194 00:08:57,600 --> 00:08:59,400 Speaker 1: They're in the fourth tier, the fifth tier, and ninety 195 00:08:59,400 --> 00:09:02,080 Speaker 1: percent of their the value of their investment was wiped out. 196 00:09:02,120 --> 00:09:04,640 Speaker 1: So you know, there's two sides to that coin. And 197 00:09:04,640 --> 00:09:06,199 Speaker 1: I think, just like anything else, I think you need 198 00:09:06,280 --> 00:09:08,840 Speaker 1: really good operating teams. I think you need a very 199 00:09:09,760 --> 00:09:12,439 Speaker 1: I think you need a very deep respect and understanding 200 00:09:12,440 --> 00:09:15,199 Speaker 1: of the local cultures and the local traditions, because sometimes 201 00:09:15,200 --> 00:09:19,040 Speaker 1: when these American or foreign groups go into Europe, sometimes 202 00:09:19,040 --> 00:09:21,680 Speaker 1: they don't prioritize the history of the clubs. And like 203 00:09:21,720 --> 00:09:25,079 Speaker 1: in my case, you know, Italian is not my first language, 204 00:09:25,080 --> 00:09:27,120 Speaker 1: but I have been fortunate and I speak it fluently, 205 00:09:27,480 --> 00:09:29,200 Speaker 1: and I've done probably I don't know, one hundred, one 206 00:09:29,240 --> 00:09:31,520 Speaker 1: hundred and fifty press conferences now over the past five 207 00:09:31,600 --> 00:09:33,520 Speaker 1: or six years in Italy, and every one of them 208 00:09:33,520 --> 00:09:35,800 Speaker 1: has been in Italian, even though you know, I struggle 209 00:09:35,840 --> 00:09:38,240 Speaker 1: relative to I speak English. But you know, little things 210 00:09:38,280 --> 00:09:40,720 Speaker 1: like that, I think are important to show the connection 211 00:09:40,800 --> 00:09:43,600 Speaker 1: to the community and that you're there to respect them. 212 00:09:43,679 --> 00:09:45,480 Speaker 1: You know, you're there to be of service to them 213 00:09:45,480 --> 00:09:47,560 Speaker 1: and the community and the fans. And we were talking 214 00:09:47,640 --> 00:09:50,280 Speaker 1: about this earlier. These are clubs that have been passed 215 00:09:50,280 --> 00:09:54,440 Speaker 1: down from generation to generation to generation. And you know, 216 00:09:54,440 --> 00:09:55,920 Speaker 1: if you go in there and sort of elbow your 217 00:09:55,920 --> 00:09:59,360 Speaker 1: way into these community based clubs with an overly commercial 218 00:09:59,800 --> 00:10:01,920 Speaker 1: mind mindset, it can be a recipe for disaster. 219 00:10:02,280 --> 00:10:04,959 Speaker 2: Yeah, absolutely so. I mean, obviously you have that emotional 220 00:10:05,000 --> 00:10:07,560 Speaker 2: connection to Compobaso, but when you're looking at other assets 221 00:10:07,559 --> 00:10:09,920 Speaker 2: when you looked into buying, you know, acquiring the Napoli 222 00:10:10,000 --> 00:10:14,000 Speaker 2: basketball team and other assets you're looking to how do you, 223 00:10:14,000 --> 00:10:17,959 Speaker 2: you know, look at those assets. You know, how would 224 00:10:17,960 --> 00:10:21,000 Speaker 2: you what are you looking at when you're looking at them? 225 00:10:21,320 --> 00:10:22,199 Speaker 2: What's interesting? 226 00:10:22,520 --> 00:10:22,720 Speaker 1: You know? 227 00:10:22,800 --> 00:10:26,000 Speaker 2: How do you measure those those risks? So you sat 228 00:10:26,120 --> 00:10:28,080 Speaker 2: like you don't end up, like you said, having ninety 229 00:10:28,120 --> 00:10:29,319 Speaker 2: percent of your mess wiped. 230 00:10:29,160 --> 00:10:31,360 Speaker 1: Out, no doubt. Well, so when you talk about the 231 00:10:31,440 --> 00:10:34,240 Speaker 1: Knopoly basketball projects, that was our that's our latest project 232 00:10:34,240 --> 00:10:36,440 Speaker 1: that we're going into our second year of ownership. It's 233 00:10:36,559 --> 00:10:41,600 Speaker 1: been successful beyond my wildest imagination for many reasons. I mean, 234 00:10:41,600 --> 00:10:44,760 Speaker 1: we're a year into the investment and we're not the 235 00:10:44,800 --> 00:10:47,319 Speaker 1: team hasn't been in the playoffs for twenty years. We 236 00:10:47,320 --> 00:10:49,360 Speaker 1: were one game away from making the playoffs this year. 237 00:10:49,440 --> 00:10:51,360 Speaker 1: We're in the process of building a state of the 238 00:10:51,440 --> 00:10:53,920 Speaker 1: art arena which will be one of the most prominent 239 00:10:53,960 --> 00:10:56,720 Speaker 1: arenas in all of European sports. We're talking to the 240 00:10:56,800 --> 00:10:59,679 Speaker 1: NBA about becoming an expansion franchise for NBA Europe. We're 241 00:10:59,720 --> 00:11:01,960 Speaker 1: doing this with EuroLeague. So for me, just as somebody 242 00:11:01,960 --> 00:11:04,720 Speaker 1: who was looking at this investment, you know, beginning two 243 00:11:04,800 --> 00:11:07,880 Speaker 1: two and a half years ago, it's been an incredible journey. 244 00:11:08,440 --> 00:11:11,280 Speaker 1: But the thing that interested me in that particular ones 245 00:11:11,320 --> 00:11:14,240 Speaker 1: when you look at football Vanessa, it's the primary sport 246 00:11:14,280 --> 00:11:16,240 Speaker 1: in Europe, no doubt about it. Right, So you can 247 00:11:16,280 --> 00:11:18,839 Speaker 1: take a team like a Wrexham in my opinion, or 248 00:11:18,880 --> 00:11:21,880 Speaker 1: a team like a Compobaso, which are secondary markets or 249 00:11:21,960 --> 00:11:23,800 Speaker 1: terr shary markets, depending on how you look at it, 250 00:11:24,360 --> 00:11:28,079 Speaker 1: and you can build them into very viable assets because 251 00:11:28,080 --> 00:11:32,320 Speaker 1: you're talking about the primary sport in the in the continent. 252 00:11:32,400 --> 00:11:35,199 Speaker 1: Right in the case of basketball, basketball is growing faster 253 00:11:35,280 --> 00:11:37,880 Speaker 1: than any sport in Europe. You know, have the NBA 254 00:11:37,920 --> 00:11:41,400 Speaker 1: investing in Europe, you have EuroLeague putting a lot of 255 00:11:41,440 --> 00:11:45,920 Speaker 1: resources into building their commercial platform. Now with the NCAA, 256 00:11:46,040 --> 00:11:49,559 Speaker 1: there's becoming a player trading economy with these European clubs 257 00:11:49,559 --> 00:11:53,000 Speaker 1: and these European players that never existed before. But nevertheless 258 00:11:53,040 --> 00:11:56,120 Speaker 1: it's still is. It's a secondary sport still today. So 259 00:11:56,360 --> 00:11:58,720 Speaker 1: my thesis and our thesis at UGP when we looked 260 00:11:58,760 --> 00:12:02,560 Speaker 1: at the monopoly basketball deal was let's go into a 261 00:12:02,559 --> 00:12:06,320 Speaker 1: primary city in Europe with a secondary sport, whereas in 262 00:12:06,360 --> 00:12:08,679 Speaker 1: soccer we were looking at it as a secondary city, 263 00:12:08,720 --> 00:12:11,400 Speaker 1: but a primary sport. And that was really the thesis. 264 00:12:11,440 --> 00:12:14,040 Speaker 1: And then you looked at the multiples at the time, 265 00:12:14,600 --> 00:12:17,199 Speaker 1: Basketball multiples were trading at you know, anywhere from one 266 00:12:17,240 --> 00:12:20,320 Speaker 1: to one and a half x revenue, whereas soccer multiples 267 00:12:20,320 --> 00:12:22,720 Speaker 1: are you know, six to ten x revenue, depending on 268 00:12:22,800 --> 00:12:24,840 Speaker 1: you know, what type of club you're looking at. So 269 00:12:24,960 --> 00:12:27,640 Speaker 1: I felt like we could pick up an amazing asset 270 00:12:28,040 --> 00:12:30,880 Speaker 1: on the backdrop of being you know, being the fastest 271 00:12:30,880 --> 00:12:33,840 Speaker 1: growing sport in Europe in a primary city that was 272 00:12:33,880 --> 00:12:36,320 Speaker 1: exploding with tourism, and you know, the America's Cup was 273 00:12:36,400 --> 00:12:39,600 Speaker 1: just just announced that it shows Naples as its host city, 274 00:12:39,640 --> 00:12:42,040 Speaker 1: and the Formula one is being rumored to be going there, 275 00:12:42,080 --> 00:12:44,320 Speaker 1: and the Amalti Coast is in its backyard. So I 276 00:12:44,400 --> 00:12:47,040 Speaker 1: was really looking at Naples as an incredible brand that 277 00:12:47,080 --> 00:12:51,280 Speaker 1: could be exported internationally and could become a basketball platform 278 00:12:51,360 --> 00:12:54,040 Speaker 1: for really you know, there's twenty million Italian immigrants and 279 00:12:54,080 --> 00:12:56,520 Speaker 1: most of them identify with Naples, being from southern Italy. 280 00:12:56,960 --> 00:12:59,240 Speaker 1: So that's how we looked at that project. And I 281 00:12:59,240 --> 00:13:01,560 Speaker 1: think the thesis was we could pick this up at 282 00:13:01,600 --> 00:13:03,920 Speaker 1: a discount, and even you know, twelve eighteen months since 283 00:13:03,960 --> 00:13:06,559 Speaker 1: the acquisition, you look at the average multiple of a 284 00:13:06,600 --> 00:13:09,080 Speaker 1: European basketball team, it's like four to five x revenue, 285 00:13:09,120 --> 00:13:11,080 Speaker 1: So even just that alone, it's about, you know, four 286 00:13:11,080 --> 00:13:13,320 Speaker 1: times what we paid for it. But the thesis was, 287 00:13:13,440 --> 00:13:15,199 Speaker 1: if we're going to do a secondary sport, we're doing 288 00:13:15,240 --> 00:13:17,000 Speaker 1: in a primary city. If we're going to do a 289 00:13:17,040 --> 00:13:19,520 Speaker 1: primary sport in the case of Compobasso, a secondary city 290 00:13:19,559 --> 00:13:21,760 Speaker 1: could work out. And then obviously we get into this 291 00:13:22,160 --> 00:13:24,600 Speaker 1: Napoly soccer deal, which had been at the headline event 292 00:13:25,000 --> 00:13:28,160 Speaker 1: we're no longer in. Now we're in primary sport and 293 00:13:28,200 --> 00:13:30,800 Speaker 1: primary city, which is a whole different thesis. 294 00:13:30,480 --> 00:13:33,560 Speaker 2: Right, exactly what I wanted to ask you about, Matt 295 00:13:33,559 --> 00:13:36,560 Speaker 2: as we're talking about, you know, Napoli in the city there. 296 00:13:36,960 --> 00:13:40,840 Speaker 2: So James Horncastle by the Athletic had done this report 297 00:13:40,880 --> 00:13:44,520 Speaker 2: recently that Underdog was looking into investing into Napoli Soccer, 298 00:13:44,559 --> 00:13:48,160 Speaker 2: the SIA a team in the market. What can you 299 00:13:48,240 --> 00:13:50,920 Speaker 2: say about your looking into the team. 300 00:13:51,360 --> 00:13:53,120 Speaker 1: I would be lying if I said this was our 301 00:13:53,240 --> 00:13:55,319 Speaker 1: vision at UGP, and my vision from day one. But 302 00:13:55,440 --> 00:14:00,640 Speaker 1: quickly after we bought the Knopoli basketball asset, it became 303 00:14:01,080 --> 00:14:04,560 Speaker 1: apparent to me that there was a much larger play 304 00:14:05,040 --> 00:14:07,560 Speaker 1: to create something much much bigger than even I and 305 00:14:07,880 --> 00:14:10,680 Speaker 1: my partners at UGP I think ever envisioned, and that 306 00:14:10,880 --> 00:14:14,960 Speaker 1: was to bring together basketball and soccer and other sports 307 00:14:15,000 --> 00:14:17,120 Speaker 1: by the way, for that matter, and create this multi 308 00:14:17,120 --> 00:14:22,160 Speaker 1: sport platform, powerhouse platform in Naples. And I think, you know, 309 00:14:22,160 --> 00:14:23,720 Speaker 1: I can give you all the data points on why 310 00:14:23,760 --> 00:14:26,400 Speaker 1: I think Naples is, in my mind, one of the 311 00:14:26,400 --> 00:14:31,000 Speaker 1: most unique and valuable cities and brands in the world. 312 00:14:31,680 --> 00:14:33,440 Speaker 1: And we were looking at this and saying, all right, 313 00:14:33,480 --> 00:14:35,720 Speaker 1: we got this basketball team, we have an arena being built. 314 00:14:36,440 --> 00:14:39,760 Speaker 1: The number one club in this city is the soccer team. 315 00:14:39,800 --> 00:14:42,360 Speaker 1: It's been here for you celebrating its one hundredth year. 316 00:14:42,400 --> 00:14:46,600 Speaker 1: It's a hundred year anniversary this upcoming season. Obviously, Maradona 317 00:14:46,680 --> 00:14:49,400 Speaker 1: played there. It's a one team city, which I think 318 00:14:49,440 --> 00:14:51,880 Speaker 1: was very interesting. You go to a lot of European cities. 319 00:14:52,160 --> 00:14:56,040 Speaker 1: You know, London has like twenty teams. Madrid has several teams, 320 00:14:56,080 --> 00:14:59,840 Speaker 1: Athletico and Real obviously being the primary tenants in that. 321 00:15:00,840 --> 00:15:03,320 Speaker 1: Milan has enter and ac Milan Rome has lots of 322 00:15:03,400 --> 00:15:06,000 Speaker 1: in Roma. Napoli just had one team. It was just naopoly. 323 00:15:06,760 --> 00:15:08,920 Speaker 1: So I liked the idea, and we like the idea 324 00:15:09,040 --> 00:15:12,360 Speaker 1: UGP of merging all of those assets together. And if 325 00:15:12,400 --> 00:15:14,160 Speaker 1: you looked at from a business side of things, if 326 00:15:14,200 --> 00:15:17,040 Speaker 1: you look at soccer franchises in the world, three of 327 00:15:17,080 --> 00:15:21,240 Speaker 1: the top four are multi sport platforms. Real Madrid number one, 328 00:15:21,600 --> 00:15:23,360 Speaker 1: I think man You is number two, and then three 329 00:15:23,440 --> 00:15:27,040 Speaker 1: and four were Barcelona and Bayern. Okay, So we were 330 00:15:27,080 --> 00:15:28,800 Speaker 1: just looking at all of that and saying, imagine if 331 00:15:28,800 --> 00:15:32,080 Speaker 1: we had this multi sport platform. We already have the 332 00:15:32,080 --> 00:15:34,480 Speaker 1: basketball team, we have an arena behind it, we get 333 00:15:34,480 --> 00:15:36,840 Speaker 1: the soccer team, and then obviously we would talk about 334 00:15:36,880 --> 00:15:39,680 Speaker 1: investing significantly in the stadium and infrastructure and all that 335 00:15:40,040 --> 00:15:42,560 Speaker 1: stuff behind it, and we felt like overnight, you know, 336 00:15:42,600 --> 00:15:44,960 Speaker 1: we would be looking at one of the top ten 337 00:15:45,000 --> 00:15:49,120 Speaker 1: to fifteen most valuable soccer brands. Because even though basketball's 338 00:15:49,160 --> 00:15:51,680 Speaker 1: you know, primary soccer brand in the world, and then 339 00:15:51,720 --> 00:15:53,720 Speaker 1: you look at it five, seven, ten years out as 340 00:15:53,760 --> 00:15:59,040 Speaker 1: you commercialize that brand, Naples has a massive, massive international community. 341 00:15:59,040 --> 00:16:01,400 Speaker 1: In effect, Naples, believe it or not, is only the 342 00:16:01,440 --> 00:16:05,960 Speaker 1: fifth most populous city of Neapolitans in the world. Think 343 00:16:06,000 --> 00:16:08,400 Speaker 1: about that, and there's four million people in Naples. Okay, 344 00:16:08,400 --> 00:16:10,320 Speaker 1: it's not like a tiny city. But if you look 345 00:16:10,360 --> 00:16:15,680 Speaker 1: at San Paolo, Buenos Aires, I think, I think Toronto. 346 00:16:15,880 --> 00:16:18,600 Speaker 1: I don't care. I'm not sure about Toronto. Naples is 347 00:16:18,600 --> 00:16:21,120 Speaker 1: actually the fifth most pops There's four cities across the 348 00:16:21,160 --> 00:16:23,920 Speaker 1: world that have more Neapolitans in those cities than in Naples. 349 00:16:23,960 --> 00:16:26,000 Speaker 1: And Naples there's four million people living there. So just 350 00:16:26,000 --> 00:16:28,440 Speaker 1: to give you an idea of sort of what type 351 00:16:28,440 --> 00:16:33,120 Speaker 1: of international potential we felt that brand had. And then 352 00:16:33,120 --> 00:16:34,520 Speaker 1: I got to work, you know, and then we spent 353 00:16:34,720 --> 00:16:37,000 Speaker 1: six months getting to know the who have so much 354 00:16:37,000 --> 00:16:40,240 Speaker 1: respect for the Delarentis family. Aurelio Dealarentis bought the club 355 00:16:40,240 --> 00:16:42,440 Speaker 1: twenty some years ago out of bankruptcy and now has 356 00:16:42,440 --> 00:16:45,200 Speaker 1: built it into one of the top thirty most valuable 357 00:16:45,240 --> 00:16:48,520 Speaker 1: soccer brands in the world, a perennial Champions League contender. 358 00:16:48,560 --> 00:16:50,880 Speaker 1: And I went in there, you know, talking to him 359 00:16:50,920 --> 00:16:54,640 Speaker 1: without any selfish interest at the time, I said, just 360 00:16:54,680 --> 00:16:56,800 Speaker 1: you know, if there's an opportunity for us to partner together. 361 00:16:56,840 --> 00:16:58,680 Speaker 1: We have the basketball team, you have the soccer team. 362 00:16:58,720 --> 00:17:03,120 Speaker 1: And then the conversations obviously evolved and materialized and turned 363 00:17:03,120 --> 00:17:05,920 Speaker 1: into something more serious and obviously can't talk too much 364 00:17:05,920 --> 00:17:07,760 Speaker 1: about it, but we'll see where it goes. 365 00:17:08,160 --> 00:17:09,840 Speaker 2: I think that's the interesting thing is that you know 366 00:17:09,880 --> 00:17:12,520 Speaker 2: that in the report it had said the team was 367 00:17:12,560 --> 00:17:16,000 Speaker 2: not for sale technically, so you went into those conversations 368 00:17:16,560 --> 00:17:19,240 Speaker 2: with the hope that you could do something together, or 369 00:17:19,760 --> 00:17:23,520 Speaker 2: did the conversations just evolve into we would love to 370 00:17:24,119 --> 00:17:25,400 Speaker 2: potentially buy this play Well. 371 00:17:25,400 --> 00:17:27,399 Speaker 1: I think the thing that we always came back to 372 00:17:27,400 --> 00:17:31,240 Speaker 1: in our conversations, which I completely respected, being you know, 373 00:17:31,840 --> 00:17:34,639 Speaker 1: remember of ans like you know, I was an entrepreneur 374 00:17:34,720 --> 00:17:37,240 Speaker 1: who invested in sports because I was passionate about it. 375 00:17:37,440 --> 00:17:39,760 Speaker 1: And then as a consequence of that, it's turned into 376 00:17:39,760 --> 00:17:42,879 Speaker 1: an enterprise with UGP and the private equity firm that 377 00:17:42,960 --> 00:17:46,000 Speaker 1: we're building. But I'm not you know, I'm not some 378 00:17:46,320 --> 00:17:49,880 Speaker 1: hedge fund manager who's scrutinizing spreadsheets and looking at numbers 379 00:17:49,920 --> 00:17:52,000 Speaker 1: and saying the you know, the five to seven year 380 00:17:52,080 --> 00:17:54,119 Speaker 1: exit is like, you know, I'm looking at this. I 381 00:17:54,200 --> 00:17:56,600 Speaker 1: went into this first and foremost. Obviously now we have 382 00:17:57,040 --> 00:17:59,560 Speaker 1: a financial discipline and an enterprise behind us. But I 383 00:17:59,600 --> 00:18:01,439 Speaker 1: went into the because I was passionate about it, and 384 00:18:01,480 --> 00:18:04,520 Speaker 1: it was about my legacy and going back to the 385 00:18:04,560 --> 00:18:08,639 Speaker 1: conversations with the de Larentis family for monopoly, it was 386 00:18:08,720 --> 00:18:12,720 Speaker 1: our conversations began about legacy. The numbers were always something. 387 00:18:12,800 --> 00:18:15,520 Speaker 1: If we get to that stage, we'll figure that part out. 388 00:18:15,840 --> 00:18:18,120 Speaker 1: But you know, when you take a club and I've 389 00:18:18,119 --> 00:18:20,480 Speaker 1: seen it in Kampobasso, I've seen it now not poly basketball. 390 00:18:20,520 --> 00:18:22,760 Speaker 1: You know, you pour your heart and soul as an 391 00:18:22,800 --> 00:18:25,520 Speaker 1: operator and a president into these clubs. It's twenty five 392 00:18:25,560 --> 00:18:27,280 Speaker 1: hours a day, it's eight days a week, it's three 393 00:18:27,320 --> 00:18:29,800 Speaker 1: hundred and sixty six. It's literally you're working more than 394 00:18:29,800 --> 00:18:33,560 Speaker 1: you believed you ever could work. And so I understand 395 00:18:33,600 --> 00:18:37,520 Speaker 1: that the importance is legacy and that was really the 396 00:18:37,560 --> 00:18:40,280 Speaker 1: crux of most of our initial conversations was we'll work 397 00:18:40,280 --> 00:18:43,920 Speaker 1: the numbers out, but how do we figure out potentially 398 00:18:44,640 --> 00:18:47,080 Speaker 1: a legacy for you, you know, taking this club in 399 00:18:47,119 --> 00:18:50,080 Speaker 1: two thousand and four from bankruptcy, building it to where 400 00:18:50,119 --> 00:18:52,760 Speaker 1: it is now. You know, he can't just sell it 401 00:18:52,800 --> 00:18:56,000 Speaker 1: to some fund who's going to say, look, five years 402 00:18:56,000 --> 00:18:57,560 Speaker 1: from now, this thing's going to be worth accent. We're 403 00:18:57,560 --> 00:18:59,080 Speaker 1: going to flip it. You know, this is about and 404 00:18:59,119 --> 00:19:00,560 Speaker 1: you know he has a respect. He said it along. 405 00:19:00,600 --> 00:19:01,760 Speaker 1: You know, he told me, he said, Matt, I have 406 00:19:01,840 --> 00:19:06,280 Speaker 1: a responsibility to one hundred million Neapolitans across the world, 407 00:19:06,280 --> 00:19:09,920 Speaker 1: most of whom are not Poly supporters Andnopoly fans. If 408 00:19:09,960 --> 00:19:11,879 Speaker 1: this club ever gets handed off, it needs to be 409 00:19:11,920 --> 00:19:13,600 Speaker 1: handed off to the right person. So for me, I 410 00:19:13,600 --> 00:19:18,359 Speaker 1: felt a great deep responsibility and sense of sense of 411 00:19:18,400 --> 00:19:23,160 Speaker 1: responsibility to show that I'm motivated and I can take 412 00:19:23,160 --> 00:19:25,200 Speaker 1: this club into the future and I can do everything 413 00:19:25,240 --> 00:19:28,760 Speaker 1: that honors the tradition and the legacy that he's built, 414 00:19:28,800 --> 00:19:31,080 Speaker 1: but also I can add maybe a layer of innovation 415 00:19:31,240 --> 00:19:35,239 Speaker 1: and international appeal to the club that maybe you know 416 00:19:35,359 --> 00:19:39,520 Speaker 1: it's it hasn't it hasn't focused on for one reason 417 00:19:39,600 --> 00:19:41,520 Speaker 1: or another. And again, at the end of the day, 418 00:19:41,640 --> 00:19:44,280 Speaker 1: revenue means more investment in the club. More investment in 419 00:19:44,320 --> 00:19:47,080 Speaker 1: the club means a more competitive product. So you know, 420 00:19:47,119 --> 00:19:51,960 Speaker 1: we're not talking about distributions and we're not talking about dividends. 421 00:19:51,960 --> 00:19:55,280 Speaker 1: We're talking about increasing our revenue base, which will put 422 00:19:55,320 --> 00:19:57,200 Speaker 1: us in a position to invest in the club, which 423 00:19:57,200 --> 00:19:59,280 Speaker 1: then makes the club more competitive and gives back to 424 00:19:59,320 --> 00:20:00,760 Speaker 1: the community, which what they're all about. 425 00:20:01,760 --> 00:20:05,000 Speaker 2: And when you're looking at you know, if the deal 426 00:20:05,040 --> 00:20:07,920 Speaker 2: does go through, what are those things that you're looking 427 00:20:07,960 --> 00:20:10,119 Speaker 2: at that you want to, you know, maybe get into 428 00:20:10,280 --> 00:20:12,440 Speaker 2: right away that you feel like, maybe like you were saying, 429 00:20:12,440 --> 00:20:15,800 Speaker 2: we're a little bit underlooked at, they're undervalued right now, 430 00:20:15,920 --> 00:20:17,840 Speaker 2: or they just need a little bit more investment through 431 00:20:17,880 --> 00:20:18,360 Speaker 2: for the club. 432 00:20:18,480 --> 00:20:21,800 Speaker 1: Well, the first the first Vanessa would be infrastructure. The 433 00:20:21,800 --> 00:20:26,159 Speaker 1: Maridona Stadium was built in the nineteen late nineteen fifties, 434 00:20:26,200 --> 00:20:29,359 Speaker 1: early nineteen sixties. I think it's never really undergone any 435 00:20:29,440 --> 00:20:34,119 Speaker 1: sort of considerable upgrades. They're talking about Italy competing for 436 00:20:34,160 --> 00:20:36,359 Speaker 1: the two thousand and thirty two I believe it is 437 00:20:36,400 --> 00:20:39,439 Speaker 1: European Cup and stadiums are a problem in Italy all 438 00:20:39,480 --> 00:20:41,320 Speaker 1: over the place, so Naples, obviously it's the third largest 439 00:20:41,359 --> 00:20:44,000 Speaker 1: city in Italy. Naples needs to be a host city. 440 00:20:44,359 --> 00:20:46,520 Speaker 1: So the first thing we do, what we would do 441 00:20:46,640 --> 00:20:48,760 Speaker 1: is and we've already been discussing this. We we've have 442 00:20:48,800 --> 00:20:51,119 Speaker 1: pretty advanced conversations with the City of Naples, who's been 443 00:20:51,160 --> 00:20:54,000 Speaker 1: incredible to us in the mayor. You know, we would 444 00:20:54,000 --> 00:20:56,879 Speaker 1: invest in infrastructure to really bring that stadium to become 445 00:20:56,960 --> 00:20:59,960 Speaker 1: one of the modern day gems and jewels of Europe 446 00:21:00,119 --> 00:21:03,240 Speaker 1: and football. The club, for one reason or another, hasn't 447 00:21:03,240 --> 00:21:08,360 Speaker 1: really invested in ancillary infrastructure, so youth academies, community centers, 448 00:21:08,400 --> 00:21:10,600 Speaker 1: things of that nature. And you look at most of 449 00:21:10,640 --> 00:21:13,440 Speaker 1: the football talent in Italy, it comes from southern Italy, 450 00:21:13,480 --> 00:21:15,440 Speaker 1: it comes from Naples, you know, it comes from Rome South, 451 00:21:15,760 --> 00:21:19,080 Speaker 1: Rome and Rome South, but most of the talent there 452 00:21:19,119 --> 00:21:21,720 Speaker 1: at the ages of you know, twelve, even before twelve, 453 00:21:21,720 --> 00:21:24,159 Speaker 1: the ages of ten to eighteen, they all leave to 454 00:21:24,160 --> 00:21:26,600 Speaker 1: go to the north. So I think that's something we 455 00:21:26,600 --> 00:21:28,239 Speaker 1: would look to change. You know, we would really look 456 00:21:28,280 --> 00:21:30,320 Speaker 1: to invest in a lot of that begins with infrastructure, 457 00:21:30,359 --> 00:21:34,280 Speaker 1: just because they don't have the necessary fields and academies 458 00:21:34,320 --> 00:21:37,800 Speaker 1: and infrastructure required to nurture that type of talent at 459 00:21:37,840 --> 00:21:39,720 Speaker 1: a young age. So those are things we do. And 460 00:21:39,720 --> 00:21:44,280 Speaker 1: then obviously the international appeal Naples isn't Napolis an international brand. Naples, 461 00:21:44,280 --> 00:21:46,399 Speaker 1: the Amalfi Coast and Naples, you know, all of these. 462 00:21:46,640 --> 00:21:50,120 Speaker 1: Naples has now become I believe it's the youngest city 463 00:21:50,119 --> 00:21:53,000 Speaker 1: in all of Italy by demographic it's the number two 464 00:21:53,280 --> 00:21:56,320 Speaker 1: fastest growing tourist destination, I believe in all of Europe, 465 00:21:56,359 --> 00:21:58,280 Speaker 1: certainly in Italy, but I think it might be even 466 00:21:58,320 --> 00:22:01,480 Speaker 1: in all of Europe. You have tons of capital and 467 00:22:01,520 --> 00:22:04,280 Speaker 1: investment pouring into Naples. And look at and look at 468 00:22:04,280 --> 00:22:07,679 Speaker 1: our Compobasso, and I love Compobasso, it's my baby. But Compobasso, 469 00:22:07,760 --> 00:22:11,119 Speaker 1: the entire population of Compobasso is about fifty thousand, So 470 00:22:11,240 --> 00:22:14,120 Speaker 1: just one area of Naples is like, you know, five 471 00:22:14,240 --> 00:22:17,360 Speaker 1: six times the size of the entire city of Campobasso. 472 00:22:17,440 --> 00:22:20,680 Speaker 1: So when you think about just the opportunities around that, 473 00:22:21,240 --> 00:22:23,040 Speaker 1: they're incredible. And you know, if we would have done 474 00:22:23,080 --> 00:22:25,119 Speaker 1: this thirty forty years ago, obviously Naples it was a 475 00:22:25,119 --> 00:22:29,080 Speaker 1: different Naples back then. Naples now is, in my opinion, 476 00:22:29,200 --> 00:22:34,200 Speaker 1: is one of the most beautiful and advanced and sophisticated 477 00:22:34,200 --> 00:22:37,159 Speaker 1: and elegant cities in the world, and we're proud to 478 00:22:37,160 --> 00:22:37,719 Speaker 1: represent it. 479 00:22:37,840 --> 00:22:40,200 Speaker 2: And when you're talking about investing in the infrastructure of 480 00:22:40,200 --> 00:22:42,679 Speaker 2: the stadium, are you talking about, you know, renovating the 481 00:22:42,760 --> 00:22:44,680 Speaker 2: stadium or building a new one. 482 00:22:45,000 --> 00:22:47,680 Speaker 1: Our vision would certainly be to renovate the existing stadium. 483 00:22:48,080 --> 00:22:50,520 Speaker 1: There's a lot of land around the stadium that can 484 00:22:50,560 --> 00:22:53,000 Speaker 1: be optimized. You know, we're and obviously you have the 485 00:22:53,040 --> 00:22:55,080 Speaker 1: Maridona brand there, which is not owned by the team, 486 00:22:55,119 --> 00:22:57,760 Speaker 1: but that's a whole nother commercial opportunity that would be 487 00:22:57,800 --> 00:23:01,119 Speaker 1: really interesting, I think to event evaluate. And I've developed 488 00:23:01,160 --> 00:23:05,159 Speaker 1: a really good relationship with Diego Maradona's namesake is San 489 00:23:05,160 --> 00:23:07,879 Speaker 1: Diego Maradona Junior, So the Maradona brand. I don't know 490 00:23:07,920 --> 00:23:09,000 Speaker 1: if have you been to You said, you haven't been 491 00:23:09,000 --> 00:23:10,399 Speaker 1: to Naples, right, have not been? We've got to get 492 00:23:10,440 --> 00:23:12,960 Speaker 1: you down there. If I don't feel like pizza and Gilotto. 493 00:23:12,880 --> 00:23:15,040 Speaker 2: Well you know who does, it's disgusting. 494 00:23:15,320 --> 00:23:18,560 Speaker 1: Yeah, it's the birthplace of pizza. Yeah, and but all 495 00:23:18,680 --> 00:23:20,520 Speaker 1: my favorite food over there is a folio tello, which 496 00:23:20,560 --> 00:23:23,840 Speaker 1: is like a no soliotel. It's like a pastry with 497 00:23:23,880 --> 00:23:25,240 Speaker 1: a layered pastry. 498 00:23:25,040 --> 00:23:26,480 Speaker 2: We're gonna have to. I'm going there for my honeymoon, 499 00:23:26,520 --> 00:23:27,120 Speaker 2: so we're gonna get. 500 00:23:27,000 --> 00:23:29,240 Speaker 1: All right, we'll get you something here. Yeah. But you know, 501 00:23:29,480 --> 00:23:32,000 Speaker 1: if you go to Naples, there's and I you know, 502 00:23:32,240 --> 00:23:35,600 Speaker 1: I'm a very spiritual person. I would never put you know, 503 00:23:35,840 --> 00:23:38,000 Speaker 1: I would never put the Lord next to anybody, but 504 00:23:38,240 --> 00:23:40,879 Speaker 1: there is like there's statues of Jesus and then their 505 00:23:40,920 --> 00:23:44,000 Speaker 1: statues of Maradona, and they're side by side. Okay, there's 506 00:23:44,080 --> 00:23:47,760 Speaker 1: no one who's who's above the other. And Maradona literally, 507 00:23:47,840 --> 00:23:53,160 Speaker 1: you know, is a living, breathing, you know, figure that 508 00:23:53,640 --> 00:23:56,960 Speaker 1: his spirit runs through the blood of their people and 509 00:23:57,040 --> 00:24:00,000 Speaker 1: through the streets of the city. And just going back 510 00:24:00,080 --> 00:24:01,200 Speaker 1: to what you're talking about in terms of where we 511 00:24:01,240 --> 00:24:03,879 Speaker 1: would invest in the infrastructure, we would certainly look to 512 00:24:04,600 --> 00:24:07,600 Speaker 1: do things commercially not a commercially viable, no doubt, but 513 00:24:07,640 --> 00:24:12,080 Speaker 1: things that also pay homage to his legacy and his 514 00:24:12,119 --> 00:24:14,440 Speaker 1: spirit in a way that, in my opinion is probably 515 00:24:14,480 --> 00:24:17,800 Speaker 1: not being being optimizer. And I just a little statistic 516 00:24:17,840 --> 00:24:19,720 Speaker 1: for you, I believe. Don't quote me on the numbers, 517 00:24:19,760 --> 00:24:21,760 Speaker 1: but it's well into the hundreds of millions of dollars 518 00:24:21,760 --> 00:24:25,479 Speaker 1: of revenue is generated annually by the Maradona brand. Okay, 519 00:24:25,560 --> 00:24:28,119 Speaker 1: by the Maradona name. And did you know that I 520 00:24:28,160 --> 00:24:31,560 Speaker 1: believe it's ninety between ninety six and ninety eight percent 521 00:24:31,640 --> 00:24:32,960 Speaker 1: of that revenue is counterfeit. 522 00:24:33,400 --> 00:24:35,800 Speaker 2: Oh oh wow, yeah, okay. 523 00:24:35,600 --> 00:24:37,800 Speaker 1: So I mean just just to give you a sense 524 00:24:37,840 --> 00:24:41,639 Speaker 1: of how much demand there is, but how much you know, 525 00:24:41,640 --> 00:24:43,359 Speaker 1: there's so much opportunity. 526 00:24:42,840 --> 00:24:45,919 Speaker 2: Right absolutely, Well, Maz, we were wrapping up here, you know, 527 00:24:46,080 --> 00:24:47,840 Speaker 2: I want to just get your take on, like you 528 00:24:47,840 --> 00:24:50,280 Speaker 2: were saying, if you were able to build this into 529 00:24:50,600 --> 00:24:54,560 Speaker 2: an entire entity, Napoli Soccer basketball and be able to 530 00:24:54,640 --> 00:24:59,080 Speaker 2: really dive into the multi platform, multi you know club 531 00:24:59,720 --> 00:25:03,399 Speaker 2: own ship, what are your you know, main goals for that, 532 00:25:03,480 --> 00:25:05,000 Speaker 2: and how do you see that, you know, fitting into 533 00:25:05,000 --> 00:25:06,760 Speaker 2: the global you know, sports market. 534 00:25:07,200 --> 00:25:09,320 Speaker 1: Well, look, I think I come from obviously, I come 535 00:25:09,359 --> 00:25:13,000 Speaker 1: from an entrepreneurial background and built a business and you know, 536 00:25:13,000 --> 00:25:15,280 Speaker 1: we wound up. We were very fortunate, Vanessa. Along our 537 00:25:15,400 --> 00:25:19,680 Speaker 1: journey before we exited, we did several mergers and acquisitions. 538 00:25:19,720 --> 00:25:22,879 Speaker 1: We bought smaller companies, merged them in with our platform. 539 00:25:23,080 --> 00:25:25,640 Speaker 1: Then I ultimately sold our company. So this whole concept 540 00:25:25,680 --> 00:25:28,560 Speaker 1: of integration and M and A and synergies and all 541 00:25:28,560 --> 00:25:32,120 Speaker 1: of that stuff. I had a you know, I had 542 00:25:32,119 --> 00:25:36,000 Speaker 1: a good amount of experience through my entrepreneurial journey dealing 543 00:25:36,040 --> 00:25:39,520 Speaker 1: with them and managing those types of those types of opportunities, 544 00:25:39,600 --> 00:25:42,440 Speaker 1: and and that, to me is the beauty of this platform. 545 00:25:42,440 --> 00:25:44,679 Speaker 1: That we already have a basketball team with an arena 546 00:25:44,720 --> 00:25:47,280 Speaker 1: behind it, with a fan base that's growing, that's growing, 547 00:25:47,320 --> 00:25:49,520 Speaker 1: but still is the secondary fan base in the city 548 00:25:49,520 --> 00:25:51,560 Speaker 1: compared to the soccer team. So now you add the 549 00:25:51,560 --> 00:25:53,879 Speaker 1: soccer team on top of that and think about just 550 00:25:53,920 --> 00:25:56,880 Speaker 1: how much how much, how much value and how many 551 00:25:56,880 --> 00:26:01,359 Speaker 1: synergies that creates. You're literally acquiring customers, just like you 552 00:26:01,359 --> 00:26:03,040 Speaker 1: would look at with a corporate you know, m and 553 00:26:03,080 --> 00:26:06,560 Speaker 1: a transactional. You're a big motivation for doing a merger 554 00:26:06,560 --> 00:26:09,520 Speaker 1: and acquisitions because you're a customer acquisition, right. You have 555 00:26:09,560 --> 00:26:12,040 Speaker 1: a built in customer base in the case of the 556 00:26:12,080 --> 00:26:14,760 Speaker 1: soccer team that's in the hundreds of millions. Okay, So 557 00:26:14,800 --> 00:26:17,760 Speaker 1: you're acquiring that customer base, integrating it with basketball, the 558 00:26:17,760 --> 00:26:20,200 Speaker 1: fastest growing sport in Europe, in one of the most 559 00:26:20,240 --> 00:26:22,719 Speaker 1: amazing and fastest growing cities in Europe. And then you 560 00:26:22,760 --> 00:26:26,520 Speaker 1: put the infrastructure investments behind them with the arena and 561 00:26:26,520 --> 00:26:29,280 Speaker 1: basketball in the stadium and the ancillary projects that we 562 00:26:29,320 --> 00:26:31,560 Speaker 1: would build around the stadium and soccer, and to me, 563 00:26:31,600 --> 00:26:34,560 Speaker 1: it's just a magical combination. And you know, obviously there's 564 00:26:34,680 --> 00:26:36,760 Speaker 1: people very you were much smarter than me that are 565 00:26:36,880 --> 00:26:39,680 Speaker 1: you know, looking at numbers and creating pro formos about 566 00:26:39,800 --> 00:26:41,680 Speaker 1: what it could be worth, and you know what the 567 00:26:41,800 --> 00:26:44,479 Speaker 1: multiple is, and I'm looking at it and saying, you know, 568 00:26:44,520 --> 00:26:46,840 Speaker 1: we can scrutinize the numbers until we're blue in the face. 569 00:26:47,040 --> 00:26:50,600 Speaker 1: I know, with one thousand percent, you know, conviction in 570 00:26:50,640 --> 00:26:53,000 Speaker 1: my hard hearts that if we were able to sort 571 00:26:53,000 --> 00:26:55,200 Speaker 1: of merge all of this and build this vision together, 572 00:26:55,960 --> 00:26:57,600 Speaker 1: you know, five to ten years from now, we would 573 00:26:57,600 --> 00:27:00,000 Speaker 1: be sitting on one of the certainly the top five 574 00:27:00,200 --> 00:27:02,880 Speaker 1: most valuable sports enterprises in the world. And that's what 575 00:27:03,359 --> 00:27:05,760 Speaker 1: we're motivated to build. And sometimes you have to. I 576 00:27:05,800 --> 00:27:08,159 Speaker 1: know you talked about some of the speculation around the numbers, 577 00:27:08,280 --> 00:27:11,679 Speaker 1: and obviously I can't comment on if they're accurate or not, 578 00:27:11,760 --> 00:27:15,120 Speaker 1: but certainly there's an argument to be made for why 579 00:27:15,160 --> 00:27:18,399 Speaker 1: you should be willing to pay a premium now for 580 00:27:18,520 --> 00:27:20,600 Speaker 1: to put yourself in a position to build something that 581 00:27:20,960 --> 00:27:23,480 Speaker 1: can be I believe, one of the most valuable sporting 582 00:27:23,480 --> 00:27:26,200 Speaker 1: assets in the world ten years from now, and beyond 583 00:27:26,200 --> 00:27:29,440 Speaker 1: the financial return, to me, it's about building something that 584 00:27:30,119 --> 00:27:32,840 Speaker 1: is about the legacy and is about creating an amazing 585 00:27:32,880 --> 00:27:35,960 Speaker 1: global community and galvanizing them and bring them together through 586 00:27:36,280 --> 00:27:38,840 Speaker 1: sports in this case basketball and soccer and other stuff 587 00:27:38,880 --> 00:27:40,920 Speaker 1: that to me would be would be a dream come 588 00:27:40,920 --> 00:27:42,520 Speaker 1: true if we were able to do this well. 589 00:27:42,520 --> 00:27:45,400 Speaker 2: Because on the reported number, just you know, on that 590 00:27:45,560 --> 00:27:48,639 Speaker 2: it's about two billion euros. Like you said, you can't 591 00:27:48,680 --> 00:27:51,359 Speaker 2: comment on that specifically, but it would make them, you know, 592 00:27:51,480 --> 00:27:55,000 Speaker 2: monopoly the most valued team in Italy. So do you 593 00:27:55,160 --> 00:27:59,200 Speaker 2: believe that do you believe that the club really should 594 00:27:59,280 --> 00:28:02,160 Speaker 2: be up into that one of the most valuable teams 595 00:28:02,200 --> 00:28:05,360 Speaker 2: in Italy in Europe like you were saying, overall. 596 00:28:05,040 --> 00:28:08,000 Speaker 1: No question. I think when you look at the Napoly brand, 597 00:28:08,119 --> 00:28:11,160 Speaker 1: there's one variable which obviously you have to evaluate risk 598 00:28:11,200 --> 00:28:13,600 Speaker 1: in these deals. So we're not going into this blindly 599 00:28:13,640 --> 00:28:15,600 Speaker 1: saying there's no risk. There is risk. Of course, there's 600 00:28:15,680 --> 00:28:17,560 Speaker 1: huge risk, and I'm happy to sort of flag what 601 00:28:17,600 --> 00:28:21,720 Speaker 1: I believe is the biggest risk. But Napoli as a brand, 602 00:28:21,720 --> 00:28:24,959 Speaker 1: to me, has unlimited upside you're talking about. I talk 603 00:28:25,000 --> 00:28:27,000 Speaker 1: about just on the basketball project. Just in the United 604 00:28:27,040 --> 00:28:29,520 Speaker 1: States alone, there's twenty million Italian Americans. We talked to 605 00:28:29,600 --> 00:28:31,440 Speaker 1: the NBA about this and to your league about this. 606 00:28:31,840 --> 00:28:35,080 Speaker 1: There's twenty million Italian Americans. You know, I don't know 607 00:28:35,119 --> 00:28:37,760 Speaker 1: the number, but it's like ninety percent of them come 608 00:28:37,920 --> 00:28:41,280 Speaker 1: from or the descendants of Southern Italian immigrants. So they 609 00:28:41,320 --> 00:28:43,920 Speaker 1: identify with Naples. Naples is the capital of the south 610 00:28:43,920 --> 00:28:47,160 Speaker 1: of Italy. They don't identify with Rome, they don't identify 611 00:28:47,160 --> 00:28:50,720 Speaker 1: with Milano. So you know, by the way, nothing is 612 00:28:50,840 --> 00:28:53,040 Speaker 1: I love Rome. Rome. My dream was to live in Rome, 613 00:28:53,080 --> 00:28:55,880 Speaker 1: so I love Rome. But when you talk about the 614 00:28:55,920 --> 00:28:59,000 Speaker 1: international potential of the Nopoly brand, I believe it's one 615 00:28:59,040 --> 00:29:03,080 Speaker 1: of the most unique, uniquely valuable assets in terms of 616 00:29:03,080 --> 00:29:06,600 Speaker 1: its potential out of any international sporting asset in the world. 617 00:29:06,640 --> 00:29:10,080 Speaker 1: You know, maybe outside of obviously Real Madrid is a powerhouse, 618 00:29:10,080 --> 00:29:12,520 Speaker 1: and Real Madrid stands on its own, But when you 619 00:29:12,560 --> 00:29:16,800 Speaker 1: look about a sports brand internationally in Europe that could 620 00:29:17,320 --> 00:29:21,240 Speaker 1: create this type of appeal globally tapping into those types 621 00:29:21,280 --> 00:29:23,520 Speaker 1: of communities, I think in San Paulo alone, there's like 622 00:29:23,560 --> 00:29:26,400 Speaker 1: eight million people of Neapolitan to send to something insane. 623 00:29:27,360 --> 00:29:30,320 Speaker 1: The upside is limitless. It just needs to be structured 624 00:29:30,320 --> 00:29:32,960 Speaker 1: and organized and managed properly. And you know through so 625 00:29:33,000 --> 00:29:35,840 Speaker 1: we're talking about all types of things in terms of innovation, rebuilding, 626 00:29:35,880 --> 00:29:38,160 Speaker 1: retail stores, fan clubs, all of that stuff. You know, 627 00:29:38,240 --> 00:29:41,040 Speaker 1: a whole host of other things. The risk in my opinion, 628 00:29:41,080 --> 00:29:42,720 Speaker 1: I know you didn't ask me, but I'll preempt the question. 629 00:29:42,880 --> 00:29:44,720 Speaker 1: You know, you have to go into these deals eyes 630 00:29:44,720 --> 00:29:47,120 Speaker 1: wide open. So the Premier League, we talked about this 631 00:29:47,200 --> 00:29:50,240 Speaker 1: in the in the way in the green room. The 632 00:29:50,280 --> 00:29:53,120 Speaker 1: Premier League is like a machine right now, It's like juggernaut. 633 00:29:53,120 --> 00:29:56,160 Speaker 1: And you know, global football. I think even the English 634 00:29:56,200 --> 00:29:59,120 Speaker 1: Championship is like ranked the fourth or fifth most competitive 635 00:29:59,200 --> 00:30:01,040 Speaker 1: league in the world, which is insane. The second tier 636 00:30:01,120 --> 00:30:03,520 Speaker 1: of England is a top five league. But anyway, so 637 00:30:03,840 --> 00:30:05,400 Speaker 1: you know a lot of it. You're banking on SETI 638 00:30:05,440 --> 00:30:09,680 Speaker 1: A and Italian football and that in some respects is 639 00:30:09,680 --> 00:30:11,760 Speaker 1: out of our control and out of your control. When 640 00:30:11,760 --> 00:30:13,680 Speaker 1: you look at you know, TV rights, and if you 641 00:30:13,680 --> 00:30:15,640 Speaker 1: look at the Champions League performance of these teams, you 642 00:30:15,640 --> 00:30:17,840 Speaker 1: look at the Italian national team which hasn't made the 643 00:30:17,880 --> 00:30:20,160 Speaker 1: World Cup for I don't even want to say it. Yeah, 644 00:30:20,200 --> 00:30:23,800 Speaker 1: my three daughters, Viviana, Valentina, Simona. It's almost unthinkable that 645 00:30:24,360 --> 00:30:26,960 Speaker 1: I think my only my only daughter who's seeing a 646 00:30:27,000 --> 00:30:29,760 Speaker 1: World Cup is Vivian were in twenty ten. It's insane, 647 00:30:29,840 --> 00:30:30,440 Speaker 1: It's crazy. 648 00:30:30,560 --> 00:30:33,200 Speaker 2: Yeah, yeah, which is you know, it's terrible for for 649 00:30:33,240 --> 00:30:36,600 Speaker 2: Italian soccer, and you know you hope that you get better. 650 00:30:37,040 --> 00:30:37,400 Speaker 2: We need you. 651 00:30:37,720 --> 00:30:39,880 Speaker 1: Are you still we need you? Back on the picture goalies? 652 00:30:39,960 --> 00:30:42,880 Speaker 2: All right, Well I'm Puerto Rican, so I you know, 653 00:30:42,920 --> 00:30:44,200 Speaker 2: maybe it's through my Max we. 654 00:30:44,120 --> 00:30:45,560 Speaker 1: Can we can work on the gold and sit on 655 00:30:45,600 --> 00:30:47,880 Speaker 1: the golden passports. That's not a problem. 656 00:30:48,160 --> 00:30:50,320 Speaker 2: So Matt, just as we're closing up here, you know 657 00:30:50,440 --> 00:30:52,760 Speaker 2: you were talking a lot about Naples and you know 658 00:30:53,000 --> 00:30:56,600 Speaker 2: how you're talking to the NBA about the property. So 659 00:30:56,680 --> 00:30:59,240 Speaker 2: is that where you are looking to build an NBA 660 00:30:59,400 --> 00:31:00,640 Speaker 2: year own franchise. 661 00:31:01,360 --> 00:31:03,120 Speaker 1: Yeah, so we were look and again in the NBA. 662 00:31:03,160 --> 00:31:04,800 Speaker 1: We have a great relationship with the NBA. I have 663 00:31:04,840 --> 00:31:06,400 Speaker 1: to just be careful about what we can and can't 664 00:31:06,400 --> 00:31:08,200 Speaker 1: say on the record, but you know they've been very 665 00:31:08,200 --> 00:31:11,760 Speaker 1: gracious to us. We've had incredible meetings with them. Originally 666 00:31:11,800 --> 00:31:14,080 Speaker 1: there were twelve. You know, the NBA's expanding into Europe. 667 00:31:14,400 --> 00:31:19,880 Speaker 1: There's twelve pre selected markets for expansion franchises, from London 668 00:31:19,920 --> 00:31:22,280 Speaker 1: to Madrid to Barcelona and so on and so forth. 669 00:31:22,280 --> 00:31:24,800 Speaker 1: And in Italy, the pre selected markets were Rome and Milan, 670 00:31:24,920 --> 00:31:28,320 Speaker 1: No no secret way pointed those two cities out, and 671 00:31:28,600 --> 00:31:30,360 Speaker 1: we had the basketball team in Naples. We had a 672 00:31:30,400 --> 00:31:33,000 Speaker 1: great season, and we were looking at and I wanted 673 00:31:33,000 --> 00:31:35,080 Speaker 1: the NBA and EuroLeague, by the way as well, which 674 00:31:35,160 --> 00:31:39,120 Speaker 1: right now is the pre eminent league outside of the NBA. 675 00:31:39,200 --> 00:31:41,400 Speaker 1: I wanted and we wanted at UGP. We wanted both 676 00:31:41,480 --> 00:31:44,600 Speaker 1: of those leagues to see the vision that we had 677 00:31:44,640 --> 00:31:48,960 Speaker 1: at UGP fornopoly and why should Napoli Whynpoly not only could, 678 00:31:49,040 --> 00:31:53,840 Speaker 1: but should be a major global brand worthy of becoming 679 00:31:53,840 --> 00:31:56,520 Speaker 1: an expansion franchise at the highest level of global basketball, 680 00:31:56,520 --> 00:31:58,120 Speaker 1: whether that's the NBA euro League. You know, we can 681 00:31:58,160 --> 00:32:01,520 Speaker 1: sort of see how that plays out. Trying to have 682 00:32:01,600 --> 00:32:04,160 Speaker 1: conversations with both of them, and we're fortunate to be 683 00:32:04,200 --> 00:32:06,840 Speaker 1: at a pretty i would say a pretty good stage 684 00:32:06,840 --> 00:32:10,040 Speaker 1: with both with both parties. But that was our vision, 685 00:32:10,080 --> 00:32:11,920 Speaker 1: and I wanted the NBA to see the same vision 686 00:32:11,960 --> 00:32:14,000 Speaker 1: I saw when we bought a basketball team in Europe. 687 00:32:14,000 --> 00:32:15,760 Speaker 1: But it wasn't just Napoli. It was we were looking 688 00:32:15,800 --> 00:32:17,520 Speaker 1: at Rome, and we were looking at Milano, and we're 689 00:32:17,520 --> 00:32:19,840 Speaker 1: looking at Bologna, and we were looking at Venice. And 690 00:32:20,160 --> 00:32:23,040 Speaker 1: Italy has so many amazing, you know, cities that are 691 00:32:23,200 --> 00:32:26,680 Speaker 1: iconic brands. But we chose Napoli and we chose Notpoly 692 00:32:26,680 --> 00:32:29,640 Speaker 1: for all the reasons I told you, and for me, 693 00:32:29,720 --> 00:32:33,000 Speaker 1: it was really about how do we show the EuroLeague 694 00:32:33,000 --> 00:32:35,520 Speaker 1: and then how do we show the NBA that there 695 00:32:35,600 --> 00:32:38,520 Speaker 1: is no city in the world, particularly in Europe, in 696 00:32:38,600 --> 00:32:42,000 Speaker 1: my mind, that is inferior from a value standpoint, from 697 00:32:42,000 --> 00:32:45,120 Speaker 1: a tourism standpoint, from upside potential when it comes to sporting. 698 00:32:45,440 --> 00:32:47,920 Speaker 1: Then the city of Naples. And again, like I feel 699 00:32:47,920 --> 00:32:49,920 Speaker 1: a very you know, I put the jersey on when 700 00:32:49,920 --> 00:32:52,800 Speaker 1: I'm when I'm representing the clubs, whether it's Campobasso or 701 00:32:52,800 --> 00:32:55,920 Speaker 1: our women's team in Rome, Dona Romo, or our Canadian 702 00:32:55,960 --> 00:32:58,520 Speaker 1: team Supra or certainly not Poly Basketball. I put the 703 00:32:58,560 --> 00:33:01,280 Speaker 1: jersey on, and I take a great deal of pride 704 00:33:01,280 --> 00:33:05,360 Speaker 1: and great responsibility to represent the fan base is there 705 00:33:05,400 --> 00:33:07,800 Speaker 1: and I believe in it, and we believe that Naples 706 00:33:07,840 --> 00:33:09,840 Speaker 1: can compete at the highest of the highest levels of 707 00:33:09,880 --> 00:33:12,280 Speaker 1: any basketball pyramid, whatever league that might be. 708 00:33:13,320 --> 00:33:16,880 Speaker 2: Matt Rizetter, Founder and managing a partner of Underdog Global Partners, 709 00:33:16,880 --> 00:33:18,480 Speaker 2: thanks for joining the Bloomberg Business of Soccer. 710 00:33:18,720 --> 00:33:21,120 Speaker 1: Super appreciate it, Nannessa, always a pleasure. Thanks for having me. 711 00:33:21,960 --> 00:33:23,640 Speaker 2: That's it for today. Everyone, be sure to tune into 712 00:33:23,640 --> 00:33:26,240 Speaker 2: the Bloomberg Business of Sports wherever you get your podcasts, 713 00:33:26,280 --> 00:33:28,440 Speaker 2: and look out for special editions on the feed of 714 00:33:28,480 --> 00:33:31,000 Speaker 2: the Bloomberg Business of Soccer as we get ready for 715 00:33:31,080 --> 00:33:34,760 Speaker 2: the summer of soccer. I'm Vanessa Prodomo Maglione. This is 716 00:33:34,800 --> 00:33:38,040 Speaker 2: the Bloomberg Business Sports from Bloomberg Radio around the world.