1 00:00:00,720 --> 00:00:03,640 Speaker 1: Hello, I'm Michael bar and welcome to the Bloomberg Business 2 00:00:03,640 --> 00:00:06,040 Speaker 1: of Sports podcast, where we explore some of the big 3 00:00:06,080 --> 00:00:08,880 Speaker 1: money issues in the world sports. Everyone on Mike Lynch, 4 00:00:09,200 --> 00:00:12,160 Speaker 1: and we've got a lot of topics to talk about. 5 00:00:12,840 --> 00:00:15,360 Speaker 1: We gotta start with the joker, Novak Djokovic. He is 6 00:00:15,400 --> 00:00:20,800 Speaker 1: clear to defend his French Open title according to tournament organizers. 7 00:00:21,120 --> 00:00:24,520 Speaker 1: In case you haven't been following, has been a lot 8 00:00:24,600 --> 00:00:30,840 Speaker 1: of coronavirus related restriction since the pandemic began two years ago. Lynch, Yeah, Djokovic. 9 00:00:30,880 --> 00:00:33,760 Speaker 1: Of course I was deported from the Australian Open in January. 10 00:00:33,840 --> 00:00:38,120 Speaker 1: But France has lifted all requirements for vaccinations except for hospitals, 11 00:00:38,200 --> 00:00:41,560 Speaker 1: nursing homes and public transportation. So that means that Roland 12 00:00:41,600 --> 00:00:44,280 Speaker 1: Garrow Stadium is going to be at full capacity for 13 00:00:44,360 --> 00:00:47,800 Speaker 1: the French Open, which begins May. Now, the Truman organized 14 00:00:47,840 --> 00:00:50,920 Speaker 1: that did throw one little butt in there, like should 15 00:00:51,000 --> 00:00:53,239 Speaker 1: a new variant come and things change, they have the 16 00:00:53,320 --> 00:00:56,360 Speaker 1: right to change their mind, but as of now, Djokovic 17 00:00:56,560 --> 00:00:58,560 Speaker 1: is able to play in a Grand Slam. Now we 18 00:00:58,560 --> 00:01:01,120 Speaker 1: should add that the tournament is May twenty two, and 19 00:01:01,200 --> 00:01:04,720 Speaker 1: like you said, there's that asterisk because a lot can 20 00:01:04,760 --> 00:01:08,760 Speaker 1: happen in two months with this COVID variant. And uh 21 00:01:09,040 --> 00:01:14,160 Speaker 1: it's scary because already UH parts of China, UH fifty 22 00:01:14,200 --> 00:01:18,520 Speaker 1: million people they're in lockdown because of this variant. And 23 00:01:18,600 --> 00:01:20,920 Speaker 1: let's hope that it does not spread to other countries 24 00:01:21,400 --> 00:01:24,560 Speaker 1: like France. And as of now, Djokovic still cannot enter 25 00:01:24,560 --> 00:01:26,560 Speaker 1: the United States to play because they we have a 26 00:01:26,640 --> 00:01:29,119 Speaker 1: vaccination requirement, so he did not play at Indian Wales. 27 00:01:29,160 --> 00:01:31,560 Speaker 1: He won't be able to play at Miami. And we'll 28 00:01:31,600 --> 00:01:34,400 Speaker 1: see what happens when the US Open comes along the 29 00:01:34,640 --> 00:01:37,600 Speaker 1: week before Labor Day weekend. Since we are the business 30 00:01:37,600 --> 00:01:40,760 Speaker 1: of sports, what does it mean for the business of tennis? 31 00:01:40,800 --> 00:01:42,560 Speaker 1: Now that the Joker is going to be in the 32 00:01:42,600 --> 00:01:44,880 Speaker 1: French Open. It's gonna be huge, but it will be 33 00:01:44,920 --> 00:01:48,240 Speaker 1: a lot of eyeballs on the television watching him. Of course, 34 00:01:48,320 --> 00:01:51,480 Speaker 1: we're all with these Grand Slams. It's this that's a 35 00:01:51,520 --> 00:01:53,440 Speaker 1: three horse race going right now. Who's going to wind 36 00:01:53,520 --> 00:01:55,520 Speaker 1: up with the most Grand Slams in their in their career. 37 00:01:56,040 --> 00:01:59,240 Speaker 1: Roland Garrow Stadium is going to be full capacity. That's 38 00:01:59,320 --> 00:02:03,040 Speaker 1: great news. Or all the merchants surrounding rolling Garrow stadium, 39 00:02:03,240 --> 00:02:05,800 Speaker 1: all the people with souvenirs, etcetera. It's it's it's it's 40 00:02:05,800 --> 00:02:08,320 Speaker 1: sort of back to normal after two years. So it's 41 00:02:08,320 --> 00:02:11,600 Speaker 1: a huge, uh, financial infusion for for the city of 42 00:02:11,639 --> 00:02:15,640 Speaker 1: Paris and surrounding areas. Another story, Ken Griffin at Chicago 43 00:02:15,760 --> 00:02:19,800 Speaker 1: based billionaire steaming with the Ricketts family in a bid 44 00:02:20,240 --> 00:02:24,400 Speaker 1: for the Chelsea Football Club. We all know the story 45 00:02:24,440 --> 00:02:29,280 Speaker 1: about this, especially now that roman Nebronovich has to sell 46 00:02:29,400 --> 00:02:31,480 Speaker 1: the clubs. There are a lot of players in this. 47 00:02:32,080 --> 00:02:34,880 Speaker 1: There are the Ricketts family owns the Chicago Cubs. They're 48 00:02:34,919 --> 00:02:37,120 Speaker 1: all in. They made a public statement they're gonna make 49 00:02:37,160 --> 00:02:40,800 Speaker 1: their bid official on this Friday coming up. Um. There's 50 00:02:40,800 --> 00:02:43,200 Speaker 1: also the Saudi Media Group is one of the many 51 00:02:43,240 --> 00:02:45,720 Speaker 1: suitors for the Chelsea club right now and they want 52 00:02:45,760 --> 00:02:49,720 Speaker 1: this thing done quickly. Uh. The sanctions have really handcuffed 53 00:02:49,760 --> 00:02:52,960 Speaker 1: this this club. They have a mega store where they 54 00:02:52,960 --> 00:02:55,360 Speaker 1: sold all their souvenirs that is not allowed to be open. 55 00:02:55,840 --> 00:02:59,840 Speaker 1: Tickets to future matches cannot be uh, it cannot be sold. 56 00:03:00,360 --> 00:03:02,880 Speaker 1: So they're putting the little bit of a chokehold on 57 00:03:02,919 --> 00:03:04,799 Speaker 1: the Chelsea Football Club right now and they're going to 58 00:03:04,880 --> 00:03:10,320 Speaker 1: expedite the sale. The value of the club. One thing 59 00:03:10,480 --> 00:03:15,480 Speaker 1: I mean this is I guess the best way I 60 00:03:15,520 --> 00:03:18,399 Speaker 1: can describe this is, Okay, I get it, I get 61 00:03:18,600 --> 00:03:23,600 Speaker 1: you know why the team is being seized, if you 62 00:03:23,639 --> 00:03:26,720 Speaker 1: want to call it that or whatever. Uh. And I 63 00:03:26,800 --> 00:03:29,560 Speaker 1: know some people think, well is that really fair? Should 64 00:03:29,600 --> 00:03:32,560 Speaker 1: it be? Uh? But let me put it this way, 65 00:03:32,680 --> 00:03:35,920 Speaker 1: Abramovich would make some money out of this because he 66 00:03:35,960 --> 00:03:38,360 Speaker 1: only bought the club for pennies compared to what it's 67 00:03:38,400 --> 00:03:41,560 Speaker 1: worth today. Yeah. And originally he was, in some sort 68 00:03:41,560 --> 00:03:44,360 Speaker 1: of humanitarian gesture, was going to tend the proceeds to 69 00:03:44,440 --> 00:03:49,120 Speaker 1: the all the victims in Ukraine and the United Kingdom 70 00:03:49,160 --> 00:03:51,240 Speaker 1: said we'll have none of that. You will do what 71 00:03:51,320 --> 00:03:52,880 Speaker 1: we tell you to do, and we're going to slap 72 00:03:52,920 --> 00:03:54,920 Speaker 1: these sanctions on you and you sell the club and 73 00:03:55,000 --> 00:03:58,720 Speaker 1: this will not be happy. Are you happy if the 74 00:03:58,760 --> 00:04:03,320 Speaker 1: Cubs get into in the soccer, Well, we've seen the 75 00:04:03,320 --> 00:04:06,040 Speaker 1: Red Sox in the soccer with with with their club 76 00:04:06,120 --> 00:04:11,560 Speaker 1: over in Europe. We've seen the Glazer family owns Manchester United. 77 00:04:11,640 --> 00:04:13,920 Speaker 1: Tom Brady went to one of their matches over the weekend. 78 00:04:14,000 --> 00:04:16,880 Speaker 1: So it's all in. It's global now, it's not just 79 00:04:16,960 --> 00:04:19,839 Speaker 1: one league in one sport. Since we're talking about baseball, 80 00:04:19,920 --> 00:04:23,240 Speaker 1: let's talk about a judge ruling Major League Baseball violated 81 00:04:23,680 --> 00:04:28,240 Speaker 1: wage law for minor leaguers. What happened here, Lynching, Well, 82 00:04:28,839 --> 00:04:32,080 Speaker 1: the suit was brought up years years ago by a 83 00:04:32,080 --> 00:04:35,240 Speaker 1: minor league baseball player in California, and so the judge 84 00:04:35,320 --> 00:04:39,760 Speaker 1: ruled that the the Major League Baseball violated laws in Arizona, California, 85 00:04:39,839 --> 00:04:43,599 Speaker 1: and Florida. Under the current system, minor league baseball players 86 00:04:43,600 --> 00:04:46,440 Speaker 1: are not part of the Major League Baseball Players Association. 87 00:04:46,920 --> 00:04:49,839 Speaker 1: So for single A it's five hundred a week, Double 88 00:04:49,880 --> 00:04:52,240 Speaker 1: A it's six hundred a week, and for Triple A 89 00:04:52,320 --> 00:04:54,240 Speaker 1: it was seven hundred a week. In the minor leagues, 90 00:04:54,839 --> 00:04:58,480 Speaker 1: even though these guys come down and train in January, 91 00:04:58,520 --> 00:05:02,240 Speaker 1: in February and sometimes go to UH train in November 92 00:05:02,240 --> 00:05:04,400 Speaker 1: and December, they're not paid for any of those months. 93 00:05:04,440 --> 00:05:07,080 Speaker 1: They're only paid once their scheduled starts, which is not 94 00:05:07,200 --> 00:05:10,560 Speaker 1: only until April, and it winds up at the end 95 00:05:10,560 --> 00:05:13,359 Speaker 1: of September or early October if your team is likely 96 00:05:13,400 --> 00:05:15,760 Speaker 1: to make the playoffs. So for all those times that 97 00:05:15,800 --> 00:05:18,400 Speaker 1: they're they're working out, they're not paid at all. So 98 00:05:19,240 --> 00:05:21,640 Speaker 1: right now that this they're they're they're going to award 99 00:05:21,680 --> 00:05:24,040 Speaker 1: triple damages. The thing is going to go to trial, 100 00:05:24,080 --> 00:05:28,320 Speaker 1: I believe. In June one, well, this was now granted 101 00:05:28,960 --> 00:05:32,880 Speaker 1: the minor leaguers. They're not union members, so under the 102 00:05:33,560 --> 00:05:39,080 Speaker 1: recent agreement, it wasn't necessarily involved you. You could still 103 00:05:39,160 --> 00:05:42,839 Speaker 1: go to a minor league baseball game if they didn't 104 00:05:42,839 --> 00:05:47,720 Speaker 1: settle with MLB. But I really thought that at least 105 00:05:48,160 --> 00:05:52,279 Speaker 1: the the mlbers would help take care of the minor 106 00:05:52,360 --> 00:05:56,040 Speaker 1: leaguers during this settle. Yeah, that did not happen, and 107 00:05:56,279 --> 00:05:59,159 Speaker 1: that disappointed me. All they were concerned about was the 108 00:05:59,279 --> 00:06:01,440 Speaker 1: rookie year, the minimum wage, and they got that up 109 00:06:01,480 --> 00:06:05,240 Speaker 1: to seven hundred thousand this year. There's no consideration being 110 00:06:05,279 --> 00:06:09,160 Speaker 1: given to these guys that basically have to work other jobs, 111 00:06:09,200 --> 00:06:12,760 Speaker 1: have to tip, sometimes have to sell their car um. 112 00:06:12,839 --> 00:06:14,760 Speaker 1: Some teams are starting to help out a little bit 113 00:06:14,760 --> 00:06:17,560 Speaker 1: now and providing housing, like the Houston Astros provide housing 114 00:06:17,560 --> 00:06:20,160 Speaker 1: for their minor league players, but many of those these 115 00:06:20,240 --> 00:06:22,479 Speaker 1: kids are just going for five hundred, six hundred bucks 116 00:06:22,520 --> 00:06:24,360 Speaker 1: a week and they're just getting by, but but they're 117 00:06:24,360 --> 00:06:26,840 Speaker 1: not getting paid, like for instance, right now and all 118 00:06:26,839 --> 00:06:29,520 Speaker 1: the spring training camps the major leaguers are down there 119 00:06:29,600 --> 00:06:32,120 Speaker 1: and all those fields that you needed binoculars to see 120 00:06:32,160 --> 00:06:35,200 Speaker 1: way way way far away from the training complex. The 121 00:06:35,240 --> 00:06:37,160 Speaker 1: minor leaguers have been there for a month or so. 122 00:06:37,200 --> 00:06:40,719 Speaker 1: They're not getting paid until their games start. That see, 123 00:06:41,800 --> 00:06:43,600 Speaker 1: you gotta take care of the minor leaguers. That was 124 00:06:43,680 --> 00:06:47,000 Speaker 1: the one thing that I was sticking up about that 125 00:06:47,520 --> 00:06:50,880 Speaker 1: particular work stoppage. Uh, at least take care of the 126 00:06:50,880 --> 00:06:54,240 Speaker 1: minor leaguers. And apparently that didn't happen. Before we move on, 127 00:06:54,720 --> 00:06:58,720 Speaker 1: I gotta bring this up because I gotta be in 128 00:06:58,760 --> 00:07:03,760 Speaker 1: my bonnet about this, the settlement that they had in 129 00:07:03,839 --> 00:07:08,440 Speaker 1: Major League Baseball, including that and including stories that we 130 00:07:08,640 --> 00:07:12,880 Speaker 1: heard up from a year ago that in an extra 131 00:07:13,040 --> 00:07:17,400 Speaker 1: inning baseball game which is now nine innings, you know, 132 00:07:17,600 --> 00:07:21,320 Speaker 1: no more seven innings, and all that nine innings was 133 00:07:21,360 --> 00:07:24,200 Speaker 1: supposed to be, they were getting rid of the man 134 00:07:24,400 --> 00:07:28,080 Speaker 1: starting on second base rule. And I'm like, all right, 135 00:07:28,720 --> 00:07:31,040 Speaker 1: thank you. And now all of a sudden is like, 136 00:07:31,080 --> 00:07:33,520 Speaker 1: well wait, now we're not too shore. We want to 137 00:07:33,560 --> 00:07:35,280 Speaker 1: get rid of it. So I got a saying that 138 00:07:35,320 --> 00:07:38,480 Speaker 1: we have back in Detroit. How are you gonna play me? 139 00:07:38,920 --> 00:07:45,000 Speaker 1: It's like, you know, just get rid of it. It's not. Yes, 140 00:07:45,120 --> 00:07:48,320 Speaker 1: I'm a purist, sorry, and a lot of people are 141 00:07:48,360 --> 00:07:50,760 Speaker 1: on on the side where I am get rid of 142 00:07:50,800 --> 00:07:53,679 Speaker 1: the rule. I know people want to keep it because 143 00:07:53,960 --> 00:07:57,080 Speaker 1: you know it'll help of time. But Lynchy, come on, 144 00:07:58,640 --> 00:08:02,000 Speaker 1: this is awful. This is like up starting the top 145 00:08:02,040 --> 00:08:05,200 Speaker 1: of the tenth inning with the leadoff batter hitting a double. Yeah, 146 00:08:05,440 --> 00:08:07,600 Speaker 1: now that that really that If you're you know, with 147 00:08:07,680 --> 00:08:10,160 Speaker 1: the team that is playing in the field and the 148 00:08:10,160 --> 00:08:12,000 Speaker 1: guy leads off with a double on second base and 149 00:08:12,040 --> 00:08:15,280 Speaker 1: nobody out, that's a little bit disheartening. Said okay, right now, 150 00:08:15,320 --> 00:08:18,080 Speaker 1: we don't have any force play. Um one single wins 151 00:08:18,120 --> 00:08:20,840 Speaker 1: the game when Eric could win the game. It's ridiculous. 152 00:08:21,120 --> 00:08:23,960 Speaker 1: You know, things should not be be given, things should 153 00:08:23,960 --> 00:08:27,440 Speaker 1: be earned. Thank you, thank you. I knew that's why 154 00:08:27,480 --> 00:08:30,360 Speaker 1: I wanted to send you a coffee cake because we 155 00:08:30,440 --> 00:08:34,960 Speaker 1: agree on this. Okay, I'll send to to you. Man. 156 00:08:35,640 --> 00:08:39,480 Speaker 1: Uh oh my goodness. Baker Mayfield, he is posting a 157 00:08:39,520 --> 00:08:44,000 Speaker 1: message thanking Cleveland fans. On the same day the Browns 158 00:08:44,160 --> 00:08:49,239 Speaker 1: brass met with Deshaun Watson, and it sounds like Baker's 159 00:08:49,240 --> 00:08:53,360 Speaker 1: out of the dog pound and it looks like Deshaun 160 00:08:53,440 --> 00:08:55,959 Speaker 1: Watson might be in big Yeah, he's already written his 161 00:08:56,080 --> 00:08:58,800 Speaker 1: goodbye on social media to all the people of Cleveland 162 00:08:58,920 --> 00:09:00,880 Speaker 1: is quite lengthy and it's, you know, it's a little 163 00:09:00,880 --> 00:09:03,840 Speaker 1: bit gripping. I mean, he feels an attachment there. We 164 00:09:03,880 --> 00:09:07,079 Speaker 1: all know Baker Mayfield so well through these progressive commercials 165 00:09:07,120 --> 00:09:10,040 Speaker 1: at Home with Baker Mayfield. They're really clever and they're good, 166 00:09:10,080 --> 00:09:11,400 Speaker 1: and you feel like you know the guy and you 167 00:09:11,440 --> 00:09:13,480 Speaker 1: want to root for him. But you know, he's a 168 00:09:13,520 --> 00:09:15,640 Speaker 1: guy that he had that injury to his non throwing 169 00:09:15,679 --> 00:09:18,280 Speaker 1: shoulder last year which really affected him. He finished twenty 170 00:09:18,360 --> 00:09:22,240 Speaker 1: seven out of the thirty two starting quarterbacks. Um, maybe 171 00:09:22,240 --> 00:09:25,400 Speaker 1: it's time. Maybe a new destination might help him a 172 00:09:25,440 --> 00:09:27,839 Speaker 1: little bit. But it looks like, uh, the Browns are 173 00:09:27,880 --> 00:09:31,640 Speaker 1: all in on trying to convince Deshaun Watson to waive 174 00:09:31,800 --> 00:09:34,880 Speaker 1: his no trade clause and be traded to Cleveland, which 175 00:09:34,920 --> 00:09:36,960 Speaker 1: would open up the door for Baker Mayfield to go 176 00:09:37,120 --> 00:09:44,000 Speaker 1: someplace like perhaps Carolina, perhaps um Atlanta or even the 177 00:09:44,080 --> 00:09:47,320 Speaker 1: Saints who are who are uh in pursuit of Deshaun 178 00:09:47,360 --> 00:09:52,040 Speaker 1: Watson as well, He wrote on his message board on 179 00:09:52,080 --> 00:09:56,240 Speaker 1: Instagram and Twitter accounts. With many uncertainties here is where 180 00:09:56,320 --> 00:09:59,440 Speaker 1: my head and heart is, and he's talking about the 181 00:09:59,480 --> 00:10:01,839 Speaker 1: folks in Cleveland, so let's keep your eye on that. 182 00:10:02,360 --> 00:10:05,240 Speaker 1: This is the Bloomberg Business of Sports podcast. I'm Michael 183 00:10:05,280 --> 00:10:08,560 Speaker 1: Barr along with Mike Lynch. Hey, Scarlet Foo, you know 184 00:10:08,679 --> 00:10:11,520 Speaker 1: the scar She'll be back for our weekend edition of 185 00:10:11,720 --> 00:10:15,480 Speaker 1: Business and Sports and you can catch us here every Monday, 186 00:10:15,520 --> 00:10:18,199 Speaker 1: Wednesday and Thursday exploring the world of money in sports. 187 00:10:18,360 --> 00:10:21,199 Speaker 1: Find me on Twitter at Big Bar Sports, and I'm 188 00:10:21,240 --> 00:10:23,000 Speaker 1: Mike Lynch. You can follow me at Lynch e w 189 00:10:23,280 --> 00:10:27,400 Speaker 1: c dB. You are listening to Bloomberg Business of Sports 190 00:10:27,400 --> 00:10:29,240 Speaker 1: on the Bloomberg Radio around the world.