1 00:00:00,760 --> 00:00:03,240 Speaker 1: This is the Bloomberg Business of Sports show, where we 2 00:00:03,279 --> 00:00:05,240 Speaker 1: explored the big money issues in the world of sports. 3 00:00:05,240 --> 00:00:06,160 Speaker 1: I'm Michael barn. 4 00:00:06,000 --> 00:00:08,240 Speaker 2: I'm Scarlett Food, and I'm Demiansas hours. 5 00:00:08,039 --> 00:00:12,440 Speaker 1: Coming up, we talked some basketball with NBA training camp 6 00:00:12,520 --> 00:00:16,319 Speaker 1: opening up, we catch up with the Boston Celtics lead 7 00:00:16,360 --> 00:00:20,200 Speaker 1: owner and governor with Grossbeck from the Greenwich Economic Forum. 8 00:00:20,360 --> 00:00:23,000 Speaker 3: I'm certainly not read hour Baccanet's not what I'm trying 9 00:00:23,000 --> 00:00:27,360 Speaker 3: to say, but being inspired by the sixteen championships he won, 10 00:00:28,080 --> 00:00:31,280 Speaker 3: and having our seventeenth championship that we won then five 11 00:00:31,360 --> 00:00:33,800 Speaker 3: or six years later, a year after he died, we've 12 00:00:33,800 --> 00:00:36,760 Speaker 3: engraved his signature on the inside of our rings so 13 00:00:36,840 --> 00:00:38,360 Speaker 3: that he's involved in all seventeen. 14 00:00:38,640 --> 00:00:41,600 Speaker 1: Our conversation with Grossbeck is on the way on the 15 00:00:41,640 --> 00:00:46,159 Speaker 1: Bloomberg Business of Sports. But first the MLB playoffs. They 16 00:00:46,200 --> 00:00:47,560 Speaker 1: are getting started. 17 00:00:47,400 --> 00:00:51,120 Speaker 4: And while playoff teams are still chasing their World Series dreams, 18 00:00:51,200 --> 00:00:53,600 Speaker 4: a lot of storied franchises are actually not in the 19 00:00:53,600 --> 00:00:56,240 Speaker 4: postseason this year. I'm thinking of some hometown teams. 20 00:00:57,520 --> 00:01:02,440 Speaker 1: I'm thinking of like the Yankees, the Cardinals, the San 21 00:01:02,440 --> 00:01:03,600 Speaker 1: Francisco Giants. 22 00:01:03,600 --> 00:01:06,160 Speaker 2: Oh and for those squads the focus shifts to the 23 00:01:06,200 --> 00:01:08,960 Speaker 2: off season and building a winner for next year. I'm 24 00:01:08,959 --> 00:01:10,039 Speaker 2: thinking show heyo tani. 25 00:01:10,400 --> 00:01:12,920 Speaker 1: Yeah, Larry Bear is the president and CEO of the 26 00:01:12,920 --> 00:01:16,800 Speaker 1: San Francisco Giants. He's focusing not only on improving his team, 27 00:01:16,840 --> 00:01:21,679 Speaker 1: but the entire San Francisco area. Salute as chair of 28 00:01:21,760 --> 00:01:25,759 Speaker 1: Advanced SF and he is here now to tell us more. Larry, 29 00:01:26,000 --> 00:01:27,840 Speaker 1: Welcome to the Bloomberg Business of Sports. 30 00:01:27,959 --> 00:01:30,679 Speaker 5: It's a pleasure great speaking with the three of you, 31 00:01:31,120 --> 00:01:34,200 Speaker 5: and look forward to get into some fun topics. 32 00:01:34,440 --> 00:01:36,759 Speaker 1: Well, let's start with the fun topic. One thing about 33 00:01:36,800 --> 00:01:41,920 Speaker 1: the San Francisco Giants that you guys are always happy 34 00:01:42,080 --> 00:01:47,240 Speaker 1: to promote the San Francisco area and help that area 35 00:01:47,360 --> 00:01:50,080 Speaker 1: and the Bay area. Tell us about that, because you 36 00:01:50,120 --> 00:01:52,200 Speaker 1: guys are a very important cog there. 37 00:01:53,640 --> 00:01:56,240 Speaker 5: Well, yeah, I mean they you know, when it comes 38 00:01:56,240 --> 00:01:59,560 Speaker 5: down to it, I think you we're the San Francisco Giants, 39 00:01:59,640 --> 00:02:02,280 Speaker 5: just like you know in New York it's the New 40 00:02:02,360 --> 00:02:05,320 Speaker 5: York Mets and the New York Yankees, et cetera, and 41 00:02:04,840 --> 00:02:07,840 Speaker 5: all the different teams in the different leagues. And I 42 00:02:07,840 --> 00:02:09,800 Speaker 5: think first and foremost, you know, the name on the 43 00:02:09,800 --> 00:02:13,079 Speaker 5: front of the uniform is important and as we've gone 44 00:02:13,080 --> 00:02:17,440 Speaker 5: through the pandemic. As we've gone through you know, people 45 00:02:17,440 --> 00:02:20,960 Speaker 5: getting back to work, et cetera. It's been challenges out there, 46 00:02:21,000 --> 00:02:24,040 Speaker 5: and I think the Giants, like teams and other communities, 47 00:02:24,080 --> 00:02:26,560 Speaker 5: are really front and center and helping bring back a 48 00:02:26,600 --> 00:02:30,679 Speaker 5: community both spiritually and also you know physically, with gain 49 00:02:30,720 --> 00:02:33,640 Speaker 5: people the games and gained the communal experience. And we 50 00:02:33,680 --> 00:02:36,240 Speaker 5: had two and a half million people joined us this 51 00:02:36,360 --> 00:02:39,639 Speaker 5: year for our season. We felt just short of the playoffs, 52 00:02:39,680 --> 00:02:44,679 Speaker 5: which was disappointing, but also had had really good fan 53 00:02:44,760 --> 00:02:48,679 Speaker 5: support and have through the twenty five years now twenty 54 00:02:48,760 --> 00:02:51,240 Speaker 5: four years so far, in twenty fifth year coming up 55 00:02:51,280 --> 00:02:52,400 Speaker 5: of our ballpark. 56 00:02:53,400 --> 00:02:56,520 Speaker 4: So I'm curious, Larry, from where you sit the role 57 00:02:56,680 --> 00:03:01,679 Speaker 4: of sports teams and sports franchises in revitalizing San Francisco, 58 00:03:01,800 --> 00:03:03,400 Speaker 4: not just the Giants, but I think about the Golden 59 00:03:03,400 --> 00:03:06,040 Speaker 4: State Warriors as well, and of course the storied forty 60 00:03:06,080 --> 00:03:09,120 Speaker 4: nine Ers, which are San Francisco a name but don't 61 00:03:09,120 --> 00:03:13,360 Speaker 4: play anywhere near the city. How critical are sports teams 62 00:03:13,360 --> 00:03:17,360 Speaker 4: and sports franchises to the city's identity and the city's 63 00:03:17,400 --> 00:03:21,519 Speaker 4: ability to not reinvent itself but was certainly recover from 64 00:03:21,600 --> 00:03:22,919 Speaker 4: what's been a tough couple of years. 65 00:03:23,600 --> 00:03:26,120 Speaker 5: Scull it. I think it's it's there. It's really vital 66 00:03:26,160 --> 00:03:28,560 Speaker 5: because I think in life, you know, you look for 67 00:03:29,000 --> 00:03:33,600 Speaker 5: sort of you know, gathering points for people, communal and 68 00:03:33,680 --> 00:03:37,440 Speaker 5: for communal experiences, and you know, and technology is such 69 00:03:37,600 --> 00:03:40,640 Speaker 5: that you know, the movie theaters and of the some 70 00:03:40,680 --> 00:03:43,440 Speaker 5: of the some of the other experiences are are different 71 00:03:43,600 --> 00:03:48,360 Speaker 5: right because of technology. But but ballparks are ballparks. And 72 00:03:49,280 --> 00:03:52,320 Speaker 5: I have friends that say, you know, the Oracle Park 73 00:03:52,320 --> 00:03:55,240 Speaker 5: are ballparker you know, is my summer home. It's where 74 00:03:55,280 --> 00:03:58,600 Speaker 5: I go. It's where I spend time with my children 75 00:03:58,800 --> 00:04:01,920 Speaker 5: or with my parents, with my friends from work, or 76 00:04:01,960 --> 00:04:05,240 Speaker 5: my friends in life. And I think that you know, 77 00:04:05,320 --> 00:04:08,160 Speaker 5: there it's hard to put a dollar value on it, 78 00:04:08,240 --> 00:04:12,640 Speaker 5: but it's it's really a significant psychic value for a community. 79 00:04:12,680 --> 00:04:15,440 Speaker 5: And baseball, I think is different than the other sports 80 00:04:15,440 --> 00:04:17,640 Speaker 5: when you think about it, one hundred and sixty two games. 81 00:04:18,200 --> 00:04:21,080 Speaker 5: It's played during the summer when people are out from 82 00:04:21,120 --> 00:04:25,200 Speaker 5: school and out of it take work vacations. It's also 83 00:04:26,240 --> 00:04:29,800 Speaker 5: played often during the day, especially on weekends. So it's 84 00:04:29,839 --> 00:04:32,279 Speaker 5: a different experience and I think we need to celebrate that. 85 00:04:32,440 --> 00:04:34,839 Speaker 5: And you know, attendance was really strong this year in 86 00:04:34,880 --> 00:04:39,080 Speaker 5: baseball way up almost ten percent to seventy million fans. 87 00:04:39,640 --> 00:04:41,760 Speaker 2: Well, Laurie, let's talk about the season. I mean, you know, 88 00:04:42,080 --> 00:04:44,040 Speaker 2: the end of the season. I mean, Brandon Crawford may 89 00:04:44,040 --> 00:04:46,800 Speaker 2: be retiring. I mean, a thirteen year career with San Francisco, 90 00:04:46,839 --> 00:04:49,839 Speaker 2: two World Series rings. I mean, now, you know, Gabe Kepler, 91 00:04:50,279 --> 00:04:51,640 Speaker 2: you know you're going to be in the market for 92 00:04:51,640 --> 00:04:55,240 Speaker 2: a new manager, free agencies kicking up show Heyo, Tani's 93 00:04:55,279 --> 00:04:57,360 Speaker 2: out there now. I know San Francisco doesn't like to, 94 00:04:57,839 --> 00:05:00,160 Speaker 2: you know, build from outside, but talk to a it's 95 00:05:00,200 --> 00:05:03,400 Speaker 2: about and I know, you know baseball operations are a 96 00:05:03,400 --> 00:05:06,960 Speaker 2: little bit different, but what's the vibe inside the team? 97 00:05:07,040 --> 00:05:09,000 Speaker 2: You know, what are you thinking? I mean, is it exciting? 98 00:05:09,080 --> 00:05:11,400 Speaker 2: I mean, I mean, what's the future Lion store? 99 00:05:11,600 --> 00:05:13,599 Speaker 5: Well, it's a it's a great question. I mean, there's 100 00:05:13,600 --> 00:05:16,320 Speaker 5: a lot of movie parts, right, and that comes with 101 00:05:16,400 --> 00:05:19,880 Speaker 5: every franchise. It's been successful. And you know, we had 102 00:05:19,920 --> 00:05:23,640 Speaker 5: the three championships in the in the past decade, we 103 00:05:23,800 --> 00:05:28,479 Speaker 5: rule Series championships and and the last player from that 104 00:05:28,680 --> 00:05:34,359 Speaker 5: those championship years played the game Sunday. And you know, 105 00:05:34,400 --> 00:05:37,840 Speaker 5: Brandon hasn't determined whether he's retiring or we don't know 106 00:05:37,880 --> 00:05:40,359 Speaker 5: what the future is. But but you know, he was 107 00:05:40,400 --> 00:05:44,480 Speaker 5: given up, you know, a rousing uh, you know, farewell. 108 00:05:44,720 --> 00:05:48,320 Speaker 5: Perhaps I don't know for sure, but you know that's 109 00:05:48,360 --> 00:05:51,120 Speaker 5: maybe how the fans felt. So certainly we're turning a page. 110 00:05:51,520 --> 00:05:54,160 Speaker 5: The organization is turning a page from those championship years. 111 00:05:54,200 --> 00:05:56,720 Speaker 5: We've been you know, in the hunt for pretty much 112 00:05:56,720 --> 00:05:59,159 Speaker 5: every year afterwards, but have not gotten back to the 113 00:05:59,160 --> 00:06:02,640 Speaker 5: World Series since fourteen. So that's what we want to do, 114 00:06:02,880 --> 00:06:05,680 Speaker 5: and that's what we are focused on, and we're going 115 00:06:05,720 --> 00:06:09,080 Speaker 5: to make a manager's managerial change. We announced just a 116 00:06:09,120 --> 00:06:14,560 Speaker 5: few days ago that and so, yeah, it's time to reboot. 117 00:06:14,600 --> 00:06:18,120 Speaker 5: It happens in professional sports all the time. It's inevitable. 118 00:06:18,440 --> 00:06:22,640 Speaker 5: And we're very proud of the fact our group came 119 00:06:22,680 --> 00:06:25,240 Speaker 5: in thirty one years ago. Believe it or not. We've 120 00:06:25,440 --> 00:06:29,840 Speaker 5: nineteen ninety three was our first year, first season. In 121 00:06:29,880 --> 00:06:33,960 Speaker 5: that period, you know, we've pride ourselves on consistency. We've 122 00:06:33,960 --> 00:06:36,080 Speaker 5: had just kind of what we were talking about before. 123 00:06:36,080 --> 00:06:37,800 Speaker 5: We want to be sort of a pillar in the community. 124 00:06:37,800 --> 00:06:41,680 Speaker 5: We've had four managers in thirty one years. Dusty Baker, 125 00:06:41,960 --> 00:06:46,320 Speaker 5: Felipe Aloud, Bruce Bocci, and Gabe Kapler, so so pretty consistent. 126 00:06:46,400 --> 00:06:49,200 Speaker 5: So the next person we get, maybe you know, he 127 00:06:49,440 --> 00:06:52,280 Speaker 5: or she will be around for a decade or more. 128 00:06:52,600 --> 00:06:53,480 Speaker 5: That's what we hope. 129 00:06:53,760 --> 00:06:56,919 Speaker 1: We're talking with Larry Bayer, president and CEO of the 130 00:06:56,920 --> 00:07:00,600 Speaker 1: San Francisco Giants. And you scare me because now I'm 131 00:07:00,640 --> 00:07:03,600 Speaker 1: giving away a big part of my old time age. 132 00:07:03,640 --> 00:07:07,360 Speaker 1: You said the stadium is twenty five years old, and 133 00:07:07,839 --> 00:07:11,160 Speaker 1: I remember when it had that new car smell when 134 00:07:11,200 --> 00:07:15,000 Speaker 1: I visited there, and I saw Barry Bonds not too 135 00:07:15,800 --> 00:07:18,920 Speaker 1: in the splashing meter ring it up. And do you 136 00:07:19,000 --> 00:07:20,240 Speaker 1: guys still got the splash meter? 137 00:07:20,320 --> 00:07:22,360 Speaker 5: By the way we do, it's there are one hundred 138 00:07:22,440 --> 00:07:25,920 Speaker 5: and two splash hits. Verry's funny, you know, he sits 139 00:07:25,960 --> 00:07:29,200 Speaker 5: with us at games often. And I think so Barry 140 00:07:29,200 --> 00:07:31,960 Speaker 5: retired in two thousand and seven, it was last year, 141 00:07:32,640 --> 00:07:35,560 Speaker 5: so think about that at that point. And I won't 142 00:07:35,600 --> 00:07:38,080 Speaker 5: be exact, but this is pretty close. I think at 143 00:07:38,120 --> 00:07:42,440 Speaker 5: that point we had seventy two, maybe seventy one splash hits. 144 00:07:43,400 --> 00:07:45,520 Speaker 5: And so here we are fifteen years later and we've 145 00:07:45,520 --> 00:07:49,800 Speaker 5: had thirty. So we had you had like you know, 146 00:07:49,960 --> 00:07:55,200 Speaker 5: seventy in eight years, and now we've had another fifteen 147 00:07:55,280 --> 00:07:59,560 Speaker 5: or so or thirty or so. I guess in you know, 148 00:08:00,160 --> 00:08:03,040 Speaker 5: a decade and a half, and Burry'll tell you that 149 00:08:04,040 --> 00:08:06,200 Speaker 5: you shouldn't even have it. Let trying says, when somebody 150 00:08:06,360 --> 00:08:08,760 Speaker 5: told me one day, when somebody hits it in the water, 151 00:08:09,200 --> 00:08:11,720 Speaker 5: then you can just paint it back on because it's 152 00:08:11,760 --> 00:08:16,120 Speaker 5: it's so infrequent versus versus when he was hitting on me, 153 00:08:16,360 --> 00:08:19,280 Speaker 5: it's amazing. So of the seventy, well of one hundred 154 00:08:19,320 --> 00:08:22,080 Speaker 5: and two, I think Barry hit thirty five something like that. 155 00:08:22,200 --> 00:08:22,480 Speaker 1: Wow. 156 00:08:23,200 --> 00:08:26,320 Speaker 4: I've watched my fair share of Giants games, having been 157 00:08:26,360 --> 00:08:29,080 Speaker 4: married to a Giants diehard fan for decades now, and 158 00:08:29,160 --> 00:08:32,240 Speaker 4: I can picture all of this. Michael Barnes, describe it. 159 00:08:33,000 --> 00:08:34,240 Speaker 5: You married into the family. 160 00:08:34,400 --> 00:08:37,319 Speaker 4: I married into the family. Yes, that's right. I knew 161 00:08:37,320 --> 00:08:40,240 Speaker 4: it when it was pack pack Bell Park and everything 162 00:08:41,080 --> 00:08:44,400 Speaker 4: you mentioned. How it's been a pretty incredible season. Baseball 163 00:08:44,600 --> 00:08:46,760 Speaker 4: just seems to have found a new life with the 164 00:08:46,800 --> 00:08:49,880 Speaker 4: new rules in place and fans have rediscovered the game. 165 00:08:50,480 --> 00:08:52,480 Speaker 4: How does this set up the sport and how does 166 00:08:52,520 --> 00:08:54,800 Speaker 4: this set up the team for you in the next 167 00:08:54,880 --> 00:08:57,040 Speaker 4: couple of years, what kind of plans can you move 168 00:08:57,080 --> 00:09:00,120 Speaker 4: forward with now that there's excitement And it's not to 169 00:09:00,160 --> 00:09:02,040 Speaker 4: say that there was an excitement before, but there you 170 00:09:02,040 --> 00:09:04,360 Speaker 4: want to build on this positive momentum that you did 171 00:09:04,720 --> 00:09:05,480 Speaker 4: get this year. 172 00:09:06,280 --> 00:09:08,920 Speaker 5: Yeah, and and we do, and I think for the 173 00:09:08,920 --> 00:09:12,080 Speaker 5: sport in general. And then I think the new rules 174 00:09:12,080 --> 00:09:15,560 Speaker 5: that you mentioned, uh, you know also inform perhaps a 175 00:09:15,679 --> 00:09:19,040 Speaker 5: little bit different way to construct rosters. So you know, 176 00:09:19,120 --> 00:09:22,000 Speaker 5: the shifts have been banned, so you can while you 177 00:09:22,000 --> 00:09:26,360 Speaker 5: can shade players to to various parts of the infield, 178 00:09:27,720 --> 00:09:30,680 Speaker 5: you know, you still are going to have a better 179 00:09:30,760 --> 00:09:34,880 Speaker 5: chance to get a base head than you did previously 180 00:09:34,920 --> 00:09:38,520 Speaker 5: because you have the you know, three infielders, say stacked 181 00:09:38,600 --> 00:09:41,679 Speaker 5: to the right side of the diamond against left hand here, 182 00:09:41,800 --> 00:09:43,680 Speaker 5: So so it's going to be you know, it's going 183 00:09:43,760 --> 00:09:46,600 Speaker 5: to put a premium on contact. As you know, stolen 184 00:09:46,679 --> 00:09:50,800 Speaker 5: bases are up this year because the actually the bases 185 00:09:50,840 --> 00:09:54,800 Speaker 5: themselves are larger, so there's more more opportunity to steal 186 00:09:54,800 --> 00:09:58,200 Speaker 5: a base. And also the uh, the pitchers are limited 187 00:09:58,280 --> 00:09:59,880 Speaker 5: number of times they can throw over the first base, 188 00:10:00,160 --> 00:10:02,480 Speaker 5: so you've just got kind of a I think there's 189 00:10:02,480 --> 00:10:04,880 Speaker 5: more a premium and more athletic players, So the way 190 00:10:04,880 --> 00:10:07,720 Speaker 5: you put together the roster has changed, and I think 191 00:10:07,840 --> 00:10:11,360 Speaker 5: teams that are in the playoffs now you find there's 192 00:10:11,400 --> 00:10:13,760 Speaker 5: a lot more base dealers and a lot more action 193 00:10:13,960 --> 00:10:16,040 Speaker 5: that way. So that's good for the game. I think 194 00:10:16,040 --> 00:10:18,480 Speaker 5: it also informs how you put together the team. We're 195 00:10:18,520 --> 00:10:21,760 Speaker 5: focused on it where a lot of the teams they're 196 00:10:21,800 --> 00:10:24,360 Speaker 5: currently in the playoffs, you know, have younger players that 197 00:10:24,400 --> 00:10:28,160 Speaker 5: have excelled, you know, so, so I think it makes 198 00:10:28,200 --> 00:10:30,800 Speaker 5: for a lot of excitement where we're very bullish on 199 00:10:30,880 --> 00:10:34,559 Speaker 5: the game itself and where it's going. And attendance is 200 00:10:34,640 --> 00:10:37,240 Speaker 5: up around the league, so so you know, it's a 201 00:10:37,720 --> 00:10:39,200 Speaker 5: the trend lines are pointing up. 202 00:10:39,800 --> 00:10:42,920 Speaker 2: Larry, your president and CEO of the San Francisco Giants, 203 00:10:43,080 --> 00:10:46,480 Speaker 2: but you're also chairman and CEO of Giants Development Services, 204 00:10:46,520 --> 00:10:50,239 Speaker 2: which is responsible for Mission Rock, the new waterfront neighborhood 205 00:10:50,240 --> 00:10:54,199 Speaker 2: that's being constructed acrossm Oracle Park. And you know, Scarlett, 206 00:10:54,200 --> 00:10:55,760 Speaker 2: you may not know this, but you know Larry is 207 00:10:55,760 --> 00:10:59,040 Speaker 2: the one who convinced THESA to relocate their headquarters from Purchase, 208 00:10:59,080 --> 00:11:01,679 Speaker 2: New York, which is up by us, to San Francis. Yeah, 209 00:11:01,720 --> 00:11:03,640 Speaker 2: I realized that, Yeah, I'm not really happy about that. 210 00:11:03,679 --> 00:11:06,439 Speaker 2: But anyway, Larry, thanks for that. And look, I mean, 211 00:11:06,559 --> 00:11:08,520 Speaker 2: talk to us a little bit about Mission Rock. Talk 212 00:11:08,559 --> 00:11:11,599 Speaker 2: to us about the retail, the restaurants, the public amenities, 213 00:11:11,760 --> 00:11:13,760 Speaker 2: you know, talk to us about the impact that's going 214 00:11:13,800 --> 00:11:14,559 Speaker 2: to have on the team. 215 00:11:14,920 --> 00:11:18,960 Speaker 5: Sure. So, you know, so when we were building the park, 216 00:11:19,000 --> 00:11:21,680 Speaker 5: and then once the park was built twenty four years ago, 217 00:11:22,200 --> 00:11:24,000 Speaker 5: we kind of looked around and we found that a 218 00:11:24,040 --> 00:11:29,120 Speaker 5: lot of companies were really interested in locating down in 219 00:11:29,200 --> 00:11:32,400 Speaker 5: this part of downtown San Francisco. It's it's away from 220 00:11:32,440 --> 00:11:35,920 Speaker 5: the traditional center of downtown. And then we found that 221 00:11:35,960 --> 00:11:38,920 Speaker 5: people like to live there because it's proximity to the water, 222 00:11:39,000 --> 00:11:42,520 Speaker 5: it's proximity at Silicon Valley. Just jump on the freeway 223 00:11:42,559 --> 00:11:44,400 Speaker 5: that's right there and you can get the Silicon Valley 224 00:11:45,200 --> 00:11:47,560 Speaker 5: and it's just it's and the good weather. It's just 225 00:11:47,600 --> 00:11:50,920 Speaker 5: a really convenient, cool place to live. So so we said, okay, 226 00:11:50,920 --> 00:11:54,400 Speaker 5: how can we help contribute to the area around the ballpark. 227 00:11:54,440 --> 00:11:56,760 Speaker 5: And the one way was to take our parking lot, 228 00:11:56,760 --> 00:12:01,120 Speaker 5: which was a surface lot where everybody parked, and you know, 229 00:12:01,200 --> 00:12:04,240 Speaker 5: and and create value there for not just for the 230 00:12:04,400 --> 00:12:07,160 Speaker 5: investors of the team, but create value for the community. 231 00:12:07,440 --> 00:12:10,280 Speaker 5: There's a big need for affordable housing here, as you've 232 00:12:10,280 --> 00:12:14,600 Speaker 5: probably read about in throughout California and much of the country, 233 00:12:14,679 --> 00:12:16,920 Speaker 5: and so what we did is we put together a 234 00:12:16,960 --> 00:12:21,080 Speaker 5: plan that had forty four to zero affordable housing with 235 00:12:21,240 --> 00:12:25,800 Speaker 5: residential rental units. We were able to get Visa and 236 00:12:26,679 --> 00:12:29,000 Speaker 5: well and we're talking to a number of other companies 237 00:12:29,080 --> 00:12:32,560 Speaker 5: with for other buildings, you know, to come into the 238 00:12:32,600 --> 00:12:36,880 Speaker 5: community and then to have a beautiful new set of 239 00:12:37,040 --> 00:12:40,600 Speaker 5: parks where people can watch, you can picnic before after 240 00:12:40,679 --> 00:12:43,240 Speaker 5: a game or just in their own in this neighborhood, 241 00:12:43,920 --> 00:12:47,280 Speaker 5: more open space. So it's a you know, it's it's 242 00:12:47,280 --> 00:12:49,599 Speaker 5: a kind of multi layered plan that's going to be 243 00:12:49,760 --> 00:12:53,120 Speaker 5: built out over the next seven years. We have four 244 00:12:53,160 --> 00:12:56,880 Speaker 5: buildings opening this coming year in twenty twenty four, and 245 00:12:57,160 --> 00:13:01,319 Speaker 5: we're really excited, including Visa's headquarters and also residential buildings, 246 00:13:02,080 --> 00:13:04,440 Speaker 5: which will help in the affordable housing crunch in San 247 00:13:04,440 --> 00:13:08,080 Speaker 5: Francisco because it's been as you know, there's just not 248 00:13:08,240 --> 00:13:11,360 Speaker 5: enough housing here and so we're really excited about all 249 00:13:11,400 --> 00:13:13,559 Speaker 5: that and if we can play a role in that 250 00:13:13,720 --> 00:13:18,440 Speaker 5: and also present a really cool and upgraded front door 251 00:13:18,520 --> 00:13:21,959 Speaker 5: to the ballpark. We see it as winen win. 252 00:13:22,960 --> 00:13:26,400 Speaker 1: Speaking of a picnic. That's what this conversation was. Larry Bear, 253 00:13:27,120 --> 00:13:31,320 Speaker 1: Oh my goodness, President CEO of the San Francisco Giants. 254 00:13:31,360 --> 00:13:33,440 Speaker 1: Thank you, sir for talking with us on the Bloomberg 255 00:13:33,480 --> 00:13:34,320 Speaker 1: Business of Sports. 256 00:13:34,559 --> 00:13:36,880 Speaker 5: Thank you, Michael. It's great talking to you guys, and 257 00:13:37,160 --> 00:13:38,640 Speaker 5: hope to see in San Francisco soon. 258 00:13:39,040 --> 00:13:41,400 Speaker 1: Yeah, good luck, good luck this off season. 259 00:13:41,800 --> 00:13:43,839 Speaker 5: Okay, pretty much appreciate it. Take care. 260 00:13:44,120 --> 00:13:47,520 Speaker 1: That's Larry Bear, President and CEO of the San Francisco 261 00:13:47,600 --> 00:13:51,440 Speaker 1: Giants as well as chair of Advanced sf Up. Next 262 00:13:51,600 --> 00:13:55,200 Speaker 1: on the show, we shift to basketball and speak with 263 00:13:55,280 --> 00:13:59,520 Speaker 1: Boston Celtics lead owner with Grossbeck straight ahead on the 264 00:13:59,520 --> 00:14:09,640 Speaker 1: Bloomberg Business of Sports Bloomberg Radio around the world. This 265 00:14:09,840 --> 00:14:12,240 Speaker 1: is the Bloomberg Business of Sports show, but we explored 266 00:14:12,280 --> 00:14:15,439 Speaker 1: the dick money issues in the world of sports' Michael 267 00:14:15,520 --> 00:14:19,440 Speaker 1: Barr along with Scarlett Food and Damien Sassaur. We saw 268 00:14:19,480 --> 00:14:22,360 Speaker 1: a couple of big moves in the last couple of 269 00:14:22,440 --> 00:14:24,200 Speaker 1: weeks in the NBA. 270 00:14:24,320 --> 00:14:27,560 Speaker 2: Yeah, yeah, we did, didn't We had longtime Portland trailblazer 271 00:14:27,640 --> 00:14:31,240 Speaker 2: Damien Liward traded to the Bucks and drew Holiday. 272 00:14:31,760 --> 00:14:32,040 Speaker 1: First. 273 00:14:32,120 --> 00:14:34,960 Speaker 2: Winding up with the Trailblazers, but then eventually landing in 274 00:14:35,040 --> 00:14:37,000 Speaker 2: Boston with the Celtics. 275 00:14:37,160 --> 00:14:39,520 Speaker 4: It's actually the latest in a series of moves by 276 00:14:39,520 --> 00:14:42,640 Speaker 4: the Celtics, who have a new look heading into the season. 277 00:14:43,040 --> 00:14:46,040 Speaker 4: Here's Celtics star Jason Tatum at the team's media day 278 00:14:46,080 --> 00:14:48,600 Speaker 4: talking about how he feels with a new partner in 279 00:14:48,640 --> 00:14:49,200 Speaker 4: the backcourt. 280 00:14:49,360 --> 00:14:53,840 Speaker 6: Excited about Drew one of the most well respected guys 281 00:14:54,000 --> 00:14:59,080 Speaker 6: in the league, you know, great talent on both ends, 282 00:14:59,720 --> 00:15:03,880 Speaker 6: Cham being we want to go metal together. Happy to have. 283 00:15:03,840 --> 00:15:08,200 Speaker 1: Him talking about the Tatum and his team bringing in 284 00:15:08,480 --> 00:15:12,320 Speaker 1: Drew Holiday. So, with a big year ahead for the 285 00:15:12,360 --> 00:15:15,440 Speaker 1: Celtics and the league, we got the opportunity to check 286 00:15:15,560 --> 00:15:18,720 Speaker 1: in with Wick Grossbeck earlier this week. He is the 287 00:15:18,800 --> 00:15:21,880 Speaker 1: lead owner and governor of the Boston Celtics and was 288 00:15:22,000 --> 00:15:26,120 Speaker 1: at the Greenwich Economic Forum along with our buddy Damien 289 00:15:26,280 --> 00:15:30,640 Speaker 1: Sassour to talk about the league, his team and more. 290 00:15:30,920 --> 00:15:33,560 Speaker 1: And boy, Damien, you fleshed something out. I had no 291 00:15:33,680 --> 00:15:34,680 Speaker 1: clue about Michael. 292 00:15:34,760 --> 00:15:37,000 Speaker 2: He was amazing, you know. I showed up about thirty 293 00:15:37,040 --> 00:15:39,600 Speaker 2: minutes early for our interview, and so did he, so 294 00:15:39,640 --> 00:15:42,640 Speaker 2: we had quite a bit of time together, you know. 295 00:15:42,680 --> 00:15:45,000 Speaker 2: But no, I mean, we talked about the team, obviously, 296 00:15:45,080 --> 00:15:46,880 Speaker 2: the state of the NBA. You know, the media rights 297 00:15:46,920 --> 00:15:48,280 Speaker 2: are going to be coming on the market pretty soon. 298 00:15:48,320 --> 00:15:51,480 Speaker 2: We also talked about, interestingly enough, his wife and some 299 00:15:51,520 --> 00:15:53,400 Speaker 2: of the things that they've been doing together since Co 300 00:15:53,640 --> 00:15:54,720 Speaker 2: Tequila for example. 301 00:15:55,880 --> 00:15:58,840 Speaker 1: Let's take a listen to that conversation. First of all, 302 00:15:58,880 --> 00:16:03,520 Speaker 1: the Boston Celtics, you guys added Drew Holliday in a 303 00:16:03,600 --> 00:16:07,040 Speaker 1: trade with the Portland Trail Blazers. I know it's not 304 00:16:07,240 --> 00:16:10,560 Speaker 1: much business here, but I'm just a sports nuts. What 305 00:16:11,040 --> 00:16:13,680 Speaker 1: what is this going to do for the franchise. 306 00:16:13,160 --> 00:16:15,320 Speaker 3: Sir, Well, we are trying to take this all the 307 00:16:15,360 --> 00:16:18,880 Speaker 3: way to the banner for eighteen. We've got some fierce competitors, 308 00:16:18,880 --> 00:16:21,480 Speaker 3: including one of my really best friends, Wes Edens, who's 309 00:16:21,480 --> 00:16:24,320 Speaker 3: the lead owner of the Box. We made a move 310 00:16:24,520 --> 00:16:27,720 Speaker 3: a few days before, and we're just trying to keep up. 311 00:16:27,760 --> 00:16:30,120 Speaker 3: I'm just trying to keep up with my buddy and 312 00:16:30,560 --> 00:16:32,320 Speaker 3: try to cause them some trouble. But we're trying to 313 00:16:32,520 --> 00:16:34,920 Speaker 3: We're trying to do what the Celtic, being Celtics owner, 314 00:16:34,960 --> 00:16:37,400 Speaker 3: really demands, and I have a group of owners with me, 315 00:16:38,040 --> 00:16:42,240 Speaker 3: which is, you know, fulfill the dreams of the Celtics 316 00:16:42,240 --> 00:16:45,480 Speaker 3: fan base, Celtic pride, you know, do things right, and 317 00:16:45,520 --> 00:16:46,840 Speaker 3: so we're trying to take this all the way. 318 00:16:47,000 --> 00:16:49,360 Speaker 4: As a team owner, how much attention do you pay 319 00:16:49,440 --> 00:16:54,640 Speaker 4: to the valuations that media companies publish on your team 320 00:16:54,680 --> 00:16:57,240 Speaker 4: on other teams. Sportco, for instance, in late twenty twenty two, 321 00:16:57,320 --> 00:17:00,120 Speaker 4: has the Boston Celtics valued at three point nine two 322 00:17:00,120 --> 00:17:02,320 Speaker 4: billion dollars, up fourteen percent from a year ago. Do 323 00:17:02,360 --> 00:17:04,879 Speaker 4: you look at that carefully? Do other owners look at 324 00:17:04,920 --> 00:17:05,480 Speaker 4: that carefully? 325 00:17:05,760 --> 00:17:08,240 Speaker 3: I'd be I wouldn't be telling the truth if I 326 00:17:08,280 --> 00:17:12,320 Speaker 3: didn't say, you know, we all know what Sportico and 327 00:17:12,520 --> 00:17:18,879 Speaker 3: Forbes publish. We also see one or two transactions a 328 00:17:19,000 --> 00:17:22,159 Speaker 3: year generally. The Phoenix SUNSA and the Charlotte Hornets just 329 00:17:22,240 --> 00:17:24,679 Speaker 3: were sold in the last twelve months, and so we 330 00:17:24,760 --> 00:17:26,920 Speaker 3: know what those numbers are. It's hard to ignore them, 331 00:17:26,960 --> 00:17:31,000 Speaker 3: but that doesn't mean they dominate your thinking, because once 332 00:17:31,040 --> 00:17:33,040 Speaker 3: you're in one of these teams, you don't really ever 333 00:17:33,080 --> 00:17:33,640 Speaker 3: want to get out. 334 00:17:33,840 --> 00:17:36,560 Speaker 2: Well, Rick, I mean, let's talk about you know what 335 00:17:36,600 --> 00:17:38,159 Speaker 2: the NBA is doing, right. I mean, we've got a 336 00:17:38,200 --> 00:17:40,280 Speaker 2: meteor rights deal that's going to be you know, coming 337 00:17:40,359 --> 00:17:42,040 Speaker 2: up in the next I mean year or two, I 338 00:17:42,040 --> 00:17:43,879 Speaker 2: mean talk to us a little bit about that, because 339 00:17:43,920 --> 00:17:46,840 Speaker 2: that could really, really, you know, just generate a lot 340 00:17:46,840 --> 00:17:49,199 Speaker 2: more revenue, not just but self enfranchised, but for the 341 00:17:49,240 --> 00:17:49,840 Speaker 2: league as well. 342 00:17:50,760 --> 00:17:54,320 Speaker 3: Yes, thank you, we are. I'm on the Media Committee 343 00:17:54,320 --> 00:17:56,919 Speaker 3: of the NBA, so I'm sort of neck deep in 344 00:17:57,000 --> 00:18:00,800 Speaker 3: that that. As we all know and all the listeners 345 00:18:00,880 --> 00:18:03,879 Speaker 3: probably know, the media landscape is really in turmoil and 346 00:18:03,960 --> 00:18:06,280 Speaker 3: in flux and seems to be going to streaming from 347 00:18:06,320 --> 00:18:10,200 Speaker 3: the old legacy model of Lenar TV, and so we're 348 00:18:10,200 --> 00:18:13,160 Speaker 3: in maybe be any of a transition period. 349 00:18:13,200 --> 00:18:13,360 Speaker 5: Now. 350 00:18:13,400 --> 00:18:16,560 Speaker 3: We don't really know how these relationship with these negotiations 351 00:18:16,720 --> 00:18:18,719 Speaker 3: will go. We know we have great relations with our 352 00:18:18,760 --> 00:18:22,040 Speaker 3: current partners and we have streamers who are also interested 353 00:18:23,160 --> 00:18:26,040 Speaker 3: that NBA is a global sport. It's got ways to go, 354 00:18:26,160 --> 00:18:29,760 Speaker 3: particularly internationally I think growing, and I think streaming facilitates that. 355 00:18:29,960 --> 00:18:32,320 Speaker 3: So we'll have to play this out over next year. 356 00:18:32,359 --> 00:18:36,639 Speaker 3: But we're really optimistic and appreciative of big interest that 357 00:18:36,680 --> 00:18:37,800 Speaker 3: we've had in our media rights. 358 00:18:37,960 --> 00:18:40,199 Speaker 4: Well, just to follow up on that wick, when it 359 00:18:40,240 --> 00:18:44,480 Speaker 4: comes to valuations of individual team franchises and those media rights, 360 00:18:44,480 --> 00:18:47,880 Speaker 4: it's clear that the latest media rights deal is got 361 00:18:47,880 --> 00:18:50,679 Speaker 4: to be the biggest factor in that valuation equation. But 362 00:18:50,720 --> 00:18:54,080 Speaker 4: I'm curious as to how much you think it is 363 00:18:54,119 --> 00:18:56,560 Speaker 4: a factor. Is it thirty percent of the total valuation? 364 00:18:56,800 --> 00:19:00,440 Speaker 4: Seventy percent is a different proportion for an established league 365 00:19:00,480 --> 00:19:03,760 Speaker 4: like the NBA versus a younger league like let's just 366 00:19:03,800 --> 00:19:06,840 Speaker 4: say the NWSL, Right, you know, our. 367 00:19:06,760 --> 00:19:10,280 Speaker 3: Media rights are probably I think they're about forty thirty, 368 00:19:10,440 --> 00:19:12,720 Speaker 3: thirty percent or forty percent of our revenues, somewhere in 369 00:19:12,720 --> 00:19:17,080 Speaker 3: that range when you add up our local, international, and international. 370 00:19:18,440 --> 00:19:20,040 Speaker 3: But I'd like to just say this, and maybe it's 371 00:19:20,040 --> 00:19:22,920 Speaker 3: a little bit provocative, but I think the high bidders 372 00:19:22,920 --> 00:19:25,199 Speaker 3: for these teams generally are people that want to be 373 00:19:25,400 --> 00:19:28,920 Speaker 3: competitors on the world stage and want to sort of 374 00:19:29,280 --> 00:19:34,080 Speaker 3: take assets they've already accumulated elsewhere and put some of 375 00:19:34,119 --> 00:19:36,600 Speaker 3: them into having the time of their lives owning a 376 00:19:36,640 --> 00:19:39,600 Speaker 3: team and doing good in the community. And I'll just 377 00:19:39,640 --> 00:19:41,480 Speaker 3: take Steve Bomber as an example. I don't want to 378 00:19:41,480 --> 00:19:43,320 Speaker 3: speak for Steve, but he's a good friend, you know, 379 00:19:43,359 --> 00:19:46,320 Speaker 3: and he made at the time, I think twenty two 380 00:19:46,359 --> 00:19:49,000 Speaker 3: billion dollars for Microsoft, and he put two billion into 381 00:19:49,040 --> 00:19:51,119 Speaker 3: the Clippers he didn't care if I don't think if 382 00:19:51,119 --> 00:19:53,199 Speaker 3: they made money or lost money. He wanted to win 383 00:19:53,240 --> 00:19:57,280 Speaker 3: a championship, and so I wouldn't I wouldn't tie it 384 00:19:57,400 --> 00:20:00,679 Speaker 3: to You know, if this is not whether or not 385 00:20:00,760 --> 00:20:03,719 Speaker 3: you invest in the S and P five hundred or 386 00:20:03,760 --> 00:20:06,159 Speaker 3: a sports team, it's whether you're able to get a 387 00:20:06,200 --> 00:20:07,760 Speaker 3: hold of something that's going to be the time of 388 00:20:07,760 --> 00:20:08,120 Speaker 3: your life. 389 00:20:08,800 --> 00:20:11,080 Speaker 1: I want to expand more what you said, because this 390 00:20:11,280 --> 00:20:16,920 Speaker 1: is a developing global game, which means that, yes, we 391 00:20:17,280 --> 00:20:20,040 Speaker 1: have the media rights here in the United States, but 392 00:20:20,160 --> 00:20:22,520 Speaker 1: I want to talk about going all around the world 393 00:20:22,600 --> 00:20:26,040 Speaker 1: where if I want to sit down and watch the 394 00:20:26,080 --> 00:20:30,400 Speaker 1: players in China play ball, how long would it take 395 00:20:30,560 --> 00:20:33,239 Speaker 1: to get all the media rights squared away for us 396 00:20:33,240 --> 00:20:34,320 Speaker 1: to see something like that. 397 00:20:34,520 --> 00:20:38,440 Speaker 3: Well, the NBA we're not watching over there as much. 398 00:20:38,480 --> 00:20:40,679 Speaker 3: We all scout the European teams and so on, but 399 00:20:40,720 --> 00:20:44,560 Speaker 3: it's not really on our screens or on our desktops necessarily. 400 00:20:44,600 --> 00:20:46,679 Speaker 3: But the NBA is already in two hundred and ten 401 00:20:46,720 --> 00:20:50,400 Speaker 3: company countries around the world, being streamed or shown one 402 00:20:50,400 --> 00:20:53,879 Speaker 3: way or another all throughout Asia, the Middle East, and 403 00:20:54,000 --> 00:20:56,760 Speaker 3: Europe and Africa. We have an NBA Africa League as 404 00:20:56,760 --> 00:20:59,119 Speaker 3: a matter of fact, we started as a side note. 405 00:21:00,119 --> 00:21:04,120 Speaker 3: But so it's already internationally distributed. But is it top 406 00:21:04,160 --> 00:21:06,320 Speaker 3: of mind for everybody? No, do we think we can 407 00:21:06,359 --> 00:21:07,920 Speaker 3: get it to the top of mind for more and 408 00:21:07,960 --> 00:21:12,080 Speaker 3: more people. Yes, it's close to forty percent of current 409 00:21:12,200 --> 00:21:18,880 Speaker 3: NBA owned players are internationally were born internationally, so we're 410 00:21:18,880 --> 00:21:22,359 Speaker 3: an international sport and we were optimistic about our growth 411 00:21:22,400 --> 00:21:22,879 Speaker 3: in the future. 412 00:21:23,160 --> 00:21:26,359 Speaker 2: Wick he had bought the Celtics at age forty one 413 00:21:26,560 --> 00:21:30,480 Speaker 2: for just two hundred million dollars in two thousand and two. Now, 414 00:21:30,800 --> 00:21:32,920 Speaker 2: you know, I'd love to talk to you about the Celtics, 415 00:21:32,920 --> 00:21:34,560 Speaker 2: but I'm an exchan so I'm not going to go there. 416 00:21:34,600 --> 00:21:38,080 Speaker 2: But sinkoro tequila. I mean, you own the company with 417 00:21:38,520 --> 00:21:42,320 Speaker 2: Michael Jordan, with Genie Buss, the Lakers, Genie Bus. Wick 418 00:21:42,400 --> 00:21:44,200 Speaker 2: tell us how this happened. Tell us about some of 419 00:21:44,240 --> 00:21:45,919 Speaker 2: the other things you do in your spare time. 420 00:21:46,680 --> 00:21:50,800 Speaker 3: Well, thanks so much, Damian for asking. We had a dinner. 421 00:21:50,960 --> 00:21:53,639 Speaker 3: I brought my fiance at the time to meet some 422 00:21:53,680 --> 00:21:56,439 Speaker 3: of my good friends, and that's Genie Buss and Michael Jordan, 423 00:21:56,520 --> 00:21:59,520 Speaker 3: and then wes Etons owns the Bucks and from Fortress 424 00:21:59,560 --> 00:22:03,040 Speaker 3: Investment and the five of us went out to dinner 425 00:22:03,080 --> 00:22:05,320 Speaker 3: and by the time, first thing, you know, Michael is 426 00:22:05,359 --> 00:22:08,439 Speaker 3: pouring high end tequila, which she loves. And it went 427 00:22:08,480 --> 00:22:11,440 Speaker 3: on till two in the morning or more, and then 428 00:22:11,440 --> 00:22:13,320 Speaker 3: we had another one, because why not have another one 429 00:22:13,320 --> 00:22:15,679 Speaker 3: of those dinners, And by the end of the second one, 430 00:22:15,720 --> 00:22:17,320 Speaker 3: we had decided the five of us to start a 431 00:22:17,320 --> 00:22:20,520 Speaker 3: tequila So Sinco stands for five and Oorro stands for gold, 432 00:22:21,280 --> 00:22:24,399 Speaker 3: and we've sold two million bottles. My wife has been 433 00:22:24,760 --> 00:22:27,239 Speaker 3: was the founding CEO and is now the chair. My 434 00:22:27,240 --> 00:22:29,640 Speaker 3: wife from Billy Fazlari, who's a Bloomberg alum for twenty 435 00:22:29,680 --> 00:22:33,000 Speaker 3: three years, to mind you, and really loved his place. 436 00:22:34,119 --> 00:22:37,560 Speaker 3: And so she's won twenty three gold medals with it, 437 00:22:38,240 --> 00:22:40,760 Speaker 3: and we're maybe going to take that international at some point. 438 00:22:40,800 --> 00:22:42,280 Speaker 3: We're really excited about sincor. 439 00:22:42,359 --> 00:22:45,800 Speaker 1: That's Boston Celtics. Lean on her with Grossbeck from the 440 00:22:45,880 --> 00:22:49,720 Speaker 1: Greenwich Economic Form Up next more with Grossbeck. Stick around 441 00:22:49,760 --> 00:22:52,840 Speaker 1: will you please? You're listening to the Bloomberg Business of 442 00:22:52,880 --> 00:23:03,320 Speaker 1: Sports from Bloomberg Radio. Around the word Thanks for joining 443 00:23:03,359 --> 00:23:05,359 Speaker 1: us on the Bloomberg Business of Sports show. Will We 444 00:23:05,440 --> 00:23:07,960 Speaker 1: explored the big money issues in the World of Sports 445 00:23:07,960 --> 00:23:11,720 Speaker 1: on Michael bar Scarlett Foot and Damien Sasaur. We're listening 446 00:23:11,760 --> 00:23:15,080 Speaker 1: in on a conversation earlier this week from the Greenwich 447 00:23:15,240 --> 00:23:19,280 Speaker 1: Economic Forum with Boston Celtics lead owner with grossback. Damion 448 00:23:20,000 --> 00:23:23,320 Speaker 1: was at the site with him too. Let's dive back 449 00:23:23,320 --> 00:23:24,879 Speaker 1: into that conversation. 450 00:23:24,720 --> 00:23:26,640 Speaker 2: Now with tell us a little bit more about what 451 00:23:26,680 --> 00:23:29,040 Speaker 2: you and Amelia have been up to in your spare 452 00:23:29,080 --> 00:23:32,760 Speaker 2: time through the COVID crisis. Talk to us about extended family. 453 00:23:32,880 --> 00:23:33,640 Speaker 3: Tell us a little bit. 454 00:23:33,600 --> 00:23:35,360 Speaker 2: About what's going on there and what we can look 455 00:23:35,400 --> 00:23:35,760 Speaker 2: forward to. 456 00:23:35,880 --> 00:23:40,200 Speaker 3: Oh my gosh, thanks for asking. Well. Amelia and her 457 00:23:40,280 --> 00:23:43,880 Speaker 3: ex George, who was a terrific guy, a Boston guy, 458 00:23:44,080 --> 00:23:47,640 Speaker 3: also a Bloomberg, also a Bloomberg alum for many years, 459 00:23:47,680 --> 00:23:50,680 Speaker 3: a couple of decades of Bloomberg George Gear. Amelia and 460 00:23:50,720 --> 00:23:54,800 Speaker 3: George had a very amicable had a great relationship, raised 461 00:23:55,119 --> 00:23:57,600 Speaker 3: two great kids, but ended up very amicably saying let's 462 00:23:57,680 --> 00:24:00,400 Speaker 3: just go our separate ways after nineteen years. And there's 463 00:24:00,440 --> 00:24:03,320 Speaker 3: nothing necessarily funny about that, but we turned it into 464 00:24:03,359 --> 00:24:05,360 Speaker 3: a sitcom because I showed up a couple of years 465 00:24:05,440 --> 00:24:09,439 Speaker 3: later as the Celtics lead owner and George's head I 466 00:24:09,440 --> 00:24:12,240 Speaker 3: think exploded because he's the biggest Boston sports fan on 467 00:24:12,280 --> 00:24:14,760 Speaker 3: the planet, and that's saying something. And so that whole 468 00:24:14,760 --> 00:24:17,840 Speaker 3: interplay of the three of us kind of sharing actually 469 00:24:17,880 --> 00:24:19,760 Speaker 3: the old family home down in New York, switching in 470 00:24:19,800 --> 00:24:22,600 Speaker 3: and out while the kids, younger kids that they have 471 00:24:22,720 --> 00:24:25,720 Speaker 3: stayed put in their bedrooms. Called nesting. We could have 472 00:24:25,760 --> 00:24:28,240 Speaker 3: called the show the Nest, but we called it Extended Family, 473 00:24:28,320 --> 00:24:30,000 Speaker 3: and we sold it. We wrote it up because we 474 00:24:30,040 --> 00:24:32,520 Speaker 3: thought it was a sitcom idea, and we co created 475 00:24:32,560 --> 00:24:34,080 Speaker 3: it and sold it to the NBC. And we're now 476 00:24:34,119 --> 00:24:37,080 Speaker 3: all three executive producers of an NBC sitcom that's in 477 00:24:37,080 --> 00:24:38,000 Speaker 3: the middle of being filmed. 478 00:24:39,080 --> 00:24:44,400 Speaker 1: Holy smokes, I'm sorry. I had no clue that had 479 00:24:44,760 --> 00:24:47,640 Speaker 1: caught me off guard. Well, congratulations for that. 480 00:24:47,760 --> 00:24:51,080 Speaker 3: There hasn't been any publicity yet, but the NBC has 481 00:24:51,119 --> 00:24:53,600 Speaker 3: picked up and ordered the entire show NBC in Lionsgate, 482 00:24:54,000 --> 00:24:57,280 Speaker 3: thirteen episodes, and so we got seven more to film 483 00:24:57,280 --> 00:24:58,680 Speaker 3: and then we're going to be on Tuesday nights and 484 00:24:58,760 --> 00:24:59,480 Speaker 3: NBC in the spring. 485 00:24:59,520 --> 00:25:03,720 Speaker 4: Is the current Well, speaking of TV shows or shows, 486 00:25:04,040 --> 00:25:07,800 Speaker 4: nothing's really on TV anymore tied to sports. I want 487 00:25:07,840 --> 00:25:09,960 Speaker 4: to get your impression on Winning Time because it was 488 00:25:09,960 --> 00:25:13,440 Speaker 4: supposed to be about the Lakers, right and the rise 489 00:25:13,440 --> 00:25:17,600 Speaker 4: of the Lakers. Yet the show was cut short to 490 00:25:17,720 --> 00:25:20,520 Speaker 4: just two seasons, and it ends with the Celtics winning 491 00:25:20,520 --> 00:25:23,520 Speaker 4: the NBA Finals in nineteen eighty four. What was your 492 00:25:23,560 --> 00:25:27,320 Speaker 4: impression of how that show depicted your franchise? Do you 493 00:25:27,400 --> 00:25:30,439 Speaker 4: have do you walk away with concerns or are you 494 00:25:30,480 --> 00:25:32,600 Speaker 4: happy with the perception that it's given. 495 00:25:33,320 --> 00:25:36,720 Speaker 3: It was a little bit. There was very good intentions. 496 00:25:36,840 --> 00:25:38,560 Speaker 3: I think there were a few caricatures. I knew read 497 00:25:38,560 --> 00:25:41,080 Speaker 3: our bought really well. Not to drop the name, but 498 00:25:41,160 --> 00:25:42,680 Speaker 3: just to tell you the truth, I brought him back. 499 00:25:42,720 --> 00:25:44,800 Speaker 3: He had been let go as the team president of 500 00:25:44,800 --> 00:25:46,600 Speaker 3: the Celtics, and the first thing I did when I 501 00:25:46,640 --> 00:25:48,480 Speaker 3: came in with my partners is hiring him back as 502 00:25:48,560 --> 00:25:50,720 Speaker 3: team president and got to work with him for five 503 00:25:50,760 --> 00:25:54,840 Speaker 3: years before he passed. So Red was wonderful. His fire 504 00:25:54,880 --> 00:25:56,959 Speaker 3: and determination came through some of the other stuff. I 505 00:25:57,000 --> 00:26:00,159 Speaker 3: wasn't sure it was quite one hundred percent by on, 506 00:26:00,240 --> 00:26:02,919 Speaker 3: but I love the fact that the second season of 507 00:26:02,920 --> 00:26:06,400 Speaker 3: Winning Time showed the Celtics winning two championships and ended 508 00:26:06,480 --> 00:26:08,720 Speaker 3: with eighty four and then they canceled the show. I 509 00:26:08,760 --> 00:26:10,679 Speaker 3: think all the Lakers fans were so bumped. Maybe they 510 00:26:10,720 --> 00:26:12,480 Speaker 3: weren't watching it and they just said the heck with 511 00:26:12,520 --> 00:26:14,080 Speaker 3: this and they pulled the plug. So I think it 512 00:26:14,200 --> 00:26:15,080 Speaker 3: ended at the perfect time. 513 00:26:15,480 --> 00:26:17,760 Speaker 2: So what you mentioned Red hour back, I'm wondering, you 514 00:26:17,800 --> 00:26:21,080 Speaker 2: know what, What's I mean this is this is probably 515 00:26:21,119 --> 00:26:26,280 Speaker 2: the most successful president of any sports franchise, pretty much 516 00:26:26,359 --> 00:26:28,240 Speaker 2: across the major sports in history. I mean, I don't 517 00:26:28,280 --> 00:26:30,000 Speaker 2: know how many championships he won, but he won a 518 00:26:30,040 --> 00:26:32,960 Speaker 2: lot in a very limited period of time. You know, 519 00:26:33,520 --> 00:26:36,000 Speaker 2: what's the best advice that Michael Shipless I'm sorry, I 520 00:26:36,040 --> 00:26:39,879 Speaker 2: mean read our back game, you know, in your time together. 521 00:26:40,520 --> 00:26:44,440 Speaker 3: Yeah, it was just do you know, if you ever 522 00:26:44,560 --> 00:26:47,760 Speaker 3: wonder what to do, just look inside and just figure 523 00:26:47,760 --> 00:26:49,280 Speaker 3: out what's the best thing for the Celtics. You know, 524 00:26:49,359 --> 00:26:52,600 Speaker 3: what does Celtic pride mean to you? And make your 525 00:26:52,640 --> 00:26:54,280 Speaker 3: decision based on that. So what I try to do 526 00:26:54,320 --> 00:26:56,520 Speaker 3: when I'm making the decision, like recently with his trade 527 00:26:56,560 --> 00:26:58,359 Speaker 3: and everything else, and just trying to think what Red 528 00:26:58,359 --> 00:27:01,680 Speaker 3: would have done. I'm certainly not rend our Baccanet's not 529 00:27:01,760 --> 00:27:05,080 Speaker 3: what I'm trying to say, but being inspired by the 530 00:27:05,160 --> 00:27:09,280 Speaker 3: sixteen championships he won, and having our seventeenth championship that 531 00:27:09,520 --> 00:27:11,680 Speaker 3: we won then five or six years later, a year 532 00:27:11,720 --> 00:27:15,040 Speaker 3: after he died, We've engraved his signature on the inside 533 00:27:15,040 --> 00:27:17,640 Speaker 3: of our rings so that he's involved in all seventeen 534 00:27:18,160 --> 00:27:19,840 Speaker 3: and if we ever win another one, he'll be involved 535 00:27:19,880 --> 00:27:21,760 Speaker 3: in that as well. I mean, he just means everything. 536 00:27:22,160 --> 00:27:24,399 Speaker 3: He and Bill Russell and the other greats who built 537 00:27:24,440 --> 00:27:28,879 Speaker 3: the team are inspirational and it's relatively easy to make 538 00:27:28,920 --> 00:27:32,600 Speaker 3: the decisions that I have to make because I keep 539 00:27:32,640 --> 00:27:34,760 Speaker 3: it simple. What would be the best thing? You know, 540 00:27:34,880 --> 00:27:36,520 Speaker 3: what would Rent say if I did this? 541 00:27:37,400 --> 00:27:40,520 Speaker 1: I want to talk about the Celtics heart and you 542 00:27:40,560 --> 00:27:42,560 Speaker 1: guys have a lot of because you guys have done 543 00:27:42,560 --> 00:27:45,800 Speaker 1: a lot of charitable work. A lot of the Celtics 544 00:27:45,880 --> 00:27:50,240 Speaker 1: players they go out and they make personal community appearances. 545 00:27:51,160 --> 00:27:53,879 Speaker 1: Can you tell us about that? I mean, that is 546 00:27:53,960 --> 00:27:58,360 Speaker 1: something I think not only the NBA but all sports 547 00:27:58,359 --> 00:28:02,000 Speaker 1: should do and have the players go out in the 548 00:28:02,000 --> 00:28:06,800 Speaker 1: community and just relate to everybody. Just if anything, it 549 00:28:06,800 --> 00:28:08,560 Speaker 1: will help make the players more relatable. 550 00:28:10,240 --> 00:28:12,600 Speaker 3: Well, I agree, and I do have good news on 551 00:28:12,640 --> 00:28:15,720 Speaker 3: that front. The Celtics are by no means alone. Every 552 00:28:15,760 --> 00:28:18,560 Speaker 3: team in Boston does it. But really every team across 553 00:28:19,320 --> 00:28:23,160 Speaker 3: you know, the NFL, Major League Baseball, hockey, and basketball 554 00:28:23,280 --> 00:28:26,240 Speaker 3: does it as well. So we are among many many teams, 555 00:28:26,240 --> 00:28:28,640 Speaker 3: all the teams really making an effort in the community. 556 00:28:29,240 --> 00:28:32,320 Speaker 3: The Celtics take it particularly personally. We help fifteen hundred 557 00:28:32,400 --> 00:28:35,480 Speaker 3: charities a year in our community and internationally and then 558 00:28:35,880 --> 00:28:37,919 Speaker 3: and some of that's just with tickets others or with 559 00:28:38,000 --> 00:28:44,240 Speaker 3: player appearances and you know, going to hospitals, going to schools. 560 00:28:44,800 --> 00:28:47,600 Speaker 3: The NBA has programs, We have a number of social 561 00:28:47,800 --> 00:28:50,160 Speaker 3: justice and initiatives. We have one of the Celtics called 562 00:28:50,160 --> 00:28:53,640 Speaker 3: Celtics United. We've committed twenty five million dollars to as 563 00:28:53,640 --> 00:28:57,120 Speaker 3: an ownership group just to get started. We take it 564 00:28:57,240 --> 00:29:00,560 Speaker 3: very seriously. We're not alone, but I appreciate your mentioning it, 565 00:29:00,600 --> 00:29:03,479 Speaker 3: and we take it. It's part of being a Celtic 566 00:29:03,720 --> 00:29:07,880 Speaker 3: and the players know that, and the players embrace it 567 00:29:07,960 --> 00:29:09,520 Speaker 3: and really actually drive us forward. 568 00:29:10,640 --> 00:29:12,520 Speaker 4: Yeah, the team is such a part of the community 569 00:29:12,520 --> 00:29:16,080 Speaker 4: and part of the city that that that that goodwill 570 00:29:16,200 --> 00:29:19,040 Speaker 4: is such a core part of the team's identity and 571 00:29:19,080 --> 00:29:23,080 Speaker 4: of the city's identity. Really, Wick, I want to go 572 00:29:23,160 --> 00:29:26,880 Speaker 4: back to what you were saying earlier about how some 573 00:29:26,960 --> 00:29:29,760 Speaker 4: people who own teams do it for the love of 574 00:29:29,800 --> 00:29:33,760 Speaker 4: the team, for their their passion for the team, and 575 00:29:33,800 --> 00:29:35,560 Speaker 4: for their passion for the city and giving back to 576 00:29:35,680 --> 00:29:38,120 Speaker 4: the city. You're part of. You're kind of at the 577 00:29:38,120 --> 00:29:41,280 Speaker 4: front end, front edge of this new generation of owners 578 00:29:41,280 --> 00:29:45,200 Speaker 4: of professional sports teams. And from your perspective, how do 579 00:29:45,440 --> 00:29:49,120 Speaker 4: former players like Michael Jordan or Magic Johnson, how do 580 00:29:49,280 --> 00:29:54,840 Speaker 4: they differ as owners from say pe investors or independently 581 00:29:54,920 --> 00:29:58,160 Speaker 4: wealthy families, and how they look at owning a team, 582 00:29:58,800 --> 00:30:03,000 Speaker 4: how they consider spending, valuations all of that, how do 583 00:30:03,080 --> 00:30:04,400 Speaker 4: they different how they operate. 584 00:30:06,320 --> 00:30:10,080 Speaker 3: Yeah, we it's great to have former great players like 585 00:30:10,120 --> 00:30:13,760 Speaker 3: Michael who until recently owned the Hornets and as a 586 00:30:13,800 --> 00:30:19,240 Speaker 3: great person, you know, and Magic Johnson be in ownership. 587 00:30:19,280 --> 00:30:24,480 Speaker 3: It just adds credibility, authenticity, and knowledge, you know, specialized 588 00:30:24,480 --> 00:30:29,080 Speaker 3: intelligence to the ownership group. So I'm all in favor 589 00:30:29,120 --> 00:30:32,400 Speaker 3: of that. I just believe the group or the single 590 00:30:32,400 --> 00:30:35,800 Speaker 3: person whatever, whoever owns the team has to be authentically 591 00:30:35,880 --> 00:30:38,120 Speaker 3: fans and do what's right for the team and not 592 00:30:38,240 --> 00:30:40,520 Speaker 3: be running this for the bottom line. The bottom line 593 00:30:40,520 --> 00:30:43,640 Speaker 3: will take care of itself. But you can't run this 594 00:30:43,840 --> 00:30:45,960 Speaker 3: primarily for a profit, and if you do, the fans 595 00:30:46,000 --> 00:30:48,800 Speaker 3: will figure it out and the players will figure it out, 596 00:30:48,800 --> 00:30:50,880 Speaker 3: and it'll actually kind of spiral down. So that the 597 00:30:50,880 --> 00:30:53,040 Speaker 3: way to my opinion. I'm sorry to get the lectured 598 00:30:53,080 --> 00:30:55,840 Speaker 3: anybody out there that doesn't want a lecture right this minute, 599 00:30:55,880 --> 00:30:57,920 Speaker 3: but my opinion is, if you're going to own one 600 00:30:57,920 --> 00:31:00,520 Speaker 3: of these teams, this is, as you said, a community asset, 601 00:31:01,200 --> 00:31:04,080 Speaker 3: and it is for certain purposes on and off the court. 602 00:31:05,240 --> 00:31:07,520 Speaker 3: And then you know, hopefully you don't go broad doing it. 603 00:31:07,560 --> 00:31:09,240 Speaker 3: You know, you can pay the bills, but but that's 604 00:31:09,280 --> 00:31:10,800 Speaker 3: going to be down the list and if you if 605 00:31:10,840 --> 00:31:14,320 Speaker 3: you can't do that, it's going to be a difficult road. 606 00:31:15,360 --> 00:31:17,200 Speaker 2: Well, I just have one more question for you. You know, 607 00:31:17,320 --> 00:31:19,680 Speaker 2: you know, we laugh, we talk about winning time. You know, 608 00:31:19,680 --> 00:31:21,720 Speaker 2: if you think about you know, Michael Jordan, you know, 609 00:31:21,840 --> 00:31:24,800 Speaker 2: sipping in tequila when you know, you know, for his 610 00:31:24,920 --> 00:31:27,040 Speaker 2: special you think about the Captain. 611 00:31:26,760 --> 00:31:27,440 Speaker 3: With Derek Jeter. 612 00:31:28,080 --> 00:31:31,880 Speaker 2: What stories have not yet been told? I mean, as 613 00:31:31,920 --> 00:31:34,920 Speaker 2: it relates to not just the NBA but sports more broadly. 614 00:31:34,960 --> 00:31:38,000 Speaker 2: I mean, have you know, have we just bludgeoned every 615 00:31:38,000 --> 00:31:40,960 Speaker 2: story that's out there? What what stories have not yet 616 00:31:40,960 --> 00:31:43,520 Speaker 2: been told that you'd like people to tell, you know, 617 00:31:43,640 --> 00:31:45,520 Speaker 2: on TV movies or elsewhere. 618 00:31:46,040 --> 00:31:48,880 Speaker 3: Well, we've got that. This was not a plant. But 619 00:31:48,960 --> 00:31:51,840 Speaker 3: we have a ten part series coming out on a 620 00:31:51,880 --> 00:31:55,160 Speaker 3: major with a major media partner that we're filming right now, 621 00:31:55,160 --> 00:31:57,920 Speaker 3: and they've got cameras with us all year this year. 622 00:31:58,720 --> 00:32:01,000 Speaker 3: But we're the Celtic story. He really hasn't been told 623 00:32:01,000 --> 00:32:03,040 Speaker 3: to the extent that the Lakers have been, and we're 624 00:32:03,120 --> 00:32:06,040 Speaker 3: going to We're not gonna end with the Lakers victory. 625 00:32:06,040 --> 00:32:07,840 Speaker 3: There haven't been very many on the Celtics. If you 626 00:32:07,920 --> 00:32:11,080 Speaker 3: beat us in twenty ten, I will say that, but 627 00:32:11,200 --> 00:32:16,280 Speaker 3: other than that, but we're excited about that. I don't 628 00:32:16,320 --> 00:32:18,000 Speaker 3: know what else to say. But I appreciate you asking. 629 00:32:18,920 --> 00:32:21,040 Speaker 1: Dang Vick. I didn't know Chuck Woolery was going to 630 00:32:21,080 --> 00:32:26,680 Speaker 1: be out there with you man at the conference. Oh Man, 631 00:32:26,880 --> 00:32:30,200 Speaker 1: I salute you by the way with the tequila story, 632 00:32:30,240 --> 00:32:33,480 Speaker 1: because if I tried that with Scarlett and Damien, I 633 00:32:33,640 --> 00:32:36,719 Speaker 1: need to be some crazy talk. Man. It was right there. 634 00:32:36,720 --> 00:32:39,920 Speaker 1: Should put Lisa's back on the basketball man. It was 635 00:32:39,960 --> 00:32:43,480 Speaker 1: a good game. Oh Man. With Grossbeck, you have been 636 00:32:43,520 --> 00:32:47,120 Speaker 1: so kind lead owner and governor of the Boston Celtics, 637 00:32:47,120 --> 00:32:49,440 Speaker 1: Thank you so much, sir for joining us on the 638 00:32:49,480 --> 00:32:51,040 Speaker 1: Bloomberg Business of Sports. 639 00:32:51,680 --> 00:32:53,560 Speaker 3: Thank you all for having me. I appreciate it. 640 00:32:53,640 --> 00:32:57,120 Speaker 1: Special thanks to Wi Grossback, lead owner and governor of 641 00:32:57,240 --> 00:33:00,000 Speaker 1: the Boston Celtics for joining us while he and Damie 642 00:33:00,120 --> 00:33:03,600 Speaker 1: and we're at the Greenwich Economic Forum. Up next on 643 00:33:03,640 --> 00:33:08,320 Speaker 1: the show, we head to the racetrack. Hey, we hear 644 00:33:08,440 --> 00:33:13,080 Speaker 1: from Laurence Stroll, part owner and executive chairman of Aston 645 00:33:13,160 --> 00:33:16,240 Speaker 1: Martin and owner of the Aston Martin F one team. 646 00:33:16,280 --> 00:33:18,320 Speaker 1: You know I'm gonna like that. That's straight ahead on 647 00:33:18,320 --> 00:33:21,960 Speaker 1: the Bloomberg Business of Sports Bloomberg Radio. Around the world, 648 00:33:27,640 --> 00:33:31,800 Speaker 1: You're listening to Bloomberg Business of Sports from Bloomberg Radio. 649 00:33:32,760 --> 00:33:35,960 Speaker 1: Thanks for joining us for the Bloomberg Business of Sports Show. 650 00:33:36,320 --> 00:33:38,480 Speaker 1: We explore the big money issues in the world of 651 00:33:38,520 --> 00:33:42,720 Speaker 1: sports Michael bar Scarlett Food and Damien sass Hour. Things 652 00:33:42,760 --> 00:33:46,080 Speaker 1: are looking up for Aston Martin and according to executive 653 00:33:46,160 --> 00:33:49,400 Speaker 1: chairman Laurence Stroll, part of the reason why is the 654 00:33:49,440 --> 00:33:53,320 Speaker 1: decision to double down on racing. The luxury car maker 655 00:33:53,520 --> 00:33:57,000 Speaker 1: joined Formula One and has more plans to send their 656 00:33:57,120 --> 00:34:00,320 Speaker 1: supercars on to the racetrack. He talked about on how 657 00:34:00,400 --> 00:34:03,720 Speaker 1: racing is helping the brand appeal to a younger customer 658 00:34:03,760 --> 00:34:06,920 Speaker 1: base and more. With host Guy Johnson and Alex Steel 659 00:34:07,280 --> 00:34:11,279 Speaker 1: from the AMR Technology campus in the UK, seated in 660 00:34:11,360 --> 00:34:14,840 Speaker 1: front of one of his newest supercars, let's hear a 661 00:34:14,880 --> 00:34:16,000 Speaker 1: portion of their conversation. 662 00:34:16,360 --> 00:34:18,879 Speaker 7: So that car behind you, that's a Valkyrie, right, and 663 00:34:18,960 --> 00:34:21,920 Speaker 7: it's going to be in Lamar correct. What do you 664 00:34:21,960 --> 00:34:25,200 Speaker 7: get by being in Lamal what's the deal for you? 665 00:34:28,000 --> 00:34:31,840 Speaker 8: Well, it's a hugely commercial beneficial event for the company. 666 00:34:31,920 --> 00:34:35,440 Speaker 8: One you use have millions of viewers around the globe 667 00:34:35,560 --> 00:34:38,080 Speaker 8: watching these cars, not only the mom but it's also 668 00:34:38,120 --> 00:34:41,279 Speaker 8: an America and IMSA at Daytona, at Seabring on very 669 00:34:41,640 --> 00:34:44,879 Speaker 8: historic tracks around the world. This is our customer base. 670 00:34:45,000 --> 00:34:48,400 Speaker 8: You know. We sell these cars at a substantial profit. 671 00:34:48,760 --> 00:34:51,640 Speaker 8: It's great marketing to see us go around to Lamongo, 672 00:34:51,719 --> 00:34:55,400 Speaker 8: around to Seabring, go around to Daytona, millions and millions 673 00:34:55,400 --> 00:34:59,520 Speaker 8: of viewers. It's extremely aspirational and as a trickle down 674 00:34:59,600 --> 00:35:02,080 Speaker 8: effect over the whole brand, the halo effect. 675 00:35:04,800 --> 00:35:07,080 Speaker 9: It's a different market. Therefore, by the sounds of things, 676 00:35:07,160 --> 00:35:11,880 Speaker 9: Lawrence to F one, how are you seeing the F 677 00:35:11,960 --> 00:35:14,320 Speaker 9: one story developing from here? And what benefit do you 678 00:35:14,360 --> 00:35:18,200 Speaker 9: see coming from that over the next few seasons. The 679 00:35:18,560 --> 00:35:20,719 Speaker 9: number of teams looks like it's going to be increasing. 680 00:35:22,120 --> 00:35:24,520 Speaker 9: How do you feel about that? What do you see 681 00:35:24,560 --> 00:35:27,960 Speaker 9: The opportunity in Formula one is kind of just give 682 00:35:28,040 --> 00:35:29,759 Speaker 9: us a sense of how you think that brand is 683 00:35:29,760 --> 00:35:32,279 Speaker 9: going to develop for you as we see maybe more 684 00:35:32,280 --> 00:35:33,080 Speaker 9: teams coming in. 685 00:35:36,440 --> 00:35:41,879 Speaker 8: Formula one has truly transformed Aston Martin. It's introduced us 686 00:35:41,920 --> 00:35:45,600 Speaker 8: to a much younger customer base. We have data showing 687 00:35:45,680 --> 00:35:49,439 Speaker 8: fifty percent of the consumers today buying our product. We're 688 00:35:49,480 --> 00:35:53,160 Speaker 8: not askedon Martin customers before seeing us in Formula one, 689 00:35:53,480 --> 00:35:57,600 Speaker 8: So it's transformed us at the highest echelon of technology 690 00:35:57,719 --> 00:36:01,600 Speaker 8: in automotive, at the highest luxury automotive, which is very 691 00:36:01,640 --> 00:36:05,440 Speaker 8: much our client base. So Formula one has really been 692 00:36:05,520 --> 00:36:10,040 Speaker 8: transformative for us as a marketing tool. Also, again we're 693 00:36:10,160 --> 00:36:14,960 Speaker 8: bringing performance to Aston Martin technology performance. There's no better performance, 694 00:36:15,000 --> 00:36:18,839 Speaker 8: no greater performance than Formula one. So for us, it's 695 00:36:18,960 --> 00:36:23,520 Speaker 8: just been absolutely fantastic. And our largest market, our largest 696 00:36:23,560 --> 00:36:26,480 Speaker 8: market being America. You know, with now three races being 697 00:36:26,480 --> 00:36:27,200 Speaker 8: held there. 698 00:36:28,400 --> 00:36:31,120 Speaker 9: Does that effect now get dileted though more teams come in? 699 00:36:31,160 --> 00:36:35,200 Speaker 9: Andretti comes in. You've seen the effects. I'm the dramatic 700 00:36:35,200 --> 00:36:36,839 Speaker 9: effect that it's happened your business. 701 00:36:39,200 --> 00:36:39,480 Speaker 5: Yeah. 702 00:36:39,520 --> 00:36:42,759 Speaker 8: But by the way, Andretti has been approved by the FIA, 703 00:36:42,920 --> 00:36:45,000 Speaker 8: which is one of two of the bodies that have 704 00:36:45,120 --> 00:36:48,359 Speaker 8: to approve their entry. The second is FOM, who has 705 00:36:48,400 --> 00:36:51,560 Speaker 8: not approved their entry. So Andrette is far from entering 706 00:36:51,600 --> 00:36:52,120 Speaker 8: Formula one. 707 00:36:53,000 --> 00:36:55,480 Speaker 7: But if he does, same kind of question, will are 708 00:36:55,520 --> 00:36:57,440 Speaker 7: you worried there's going to be too many cooks in 709 00:36:57,440 --> 00:36:58,480 Speaker 7: that F one kitchen? 710 00:37:00,920 --> 00:37:03,080 Speaker 8: I think the F one's in a great place with 711 00:37:03,200 --> 00:37:05,719 Speaker 8: ten teams, and I have a very strong suspicion that 712 00:37:05,760 --> 00:37:06,760 Speaker 8: will remain ten teams. 713 00:37:08,800 --> 00:37:12,320 Speaker 9: Okay, that's interesting, Lawrence, you're at a new campus. Happing 714 00:37:12,360 --> 00:37:13,520 Speaker 9: an advantage doesn't give you. 715 00:37:14,440 --> 00:37:16,600 Speaker 8: Oh, it's it's it's it's enormous. 716 00:37:17,000 --> 00:37:20,239 Speaker 1: That's Aston Martin Executive Chairman and Aston F one team 717 00:37:20,280 --> 00:37:24,239 Speaker 1: owner Lawrence Stroll speaking with our colleagues Alex Steel and 718 00:37:24,360 --> 00:37:27,640 Speaker 1: Guy Johnson. You can hear that full conversation right now 719 00:37:27,840 --> 00:37:31,799 Speaker 1: on the Bloomberg Talks podcast. Find that on Apple, Spotify 720 00:37:31,960 --> 00:37:36,400 Speaker 1: and wherever you get your podcasts. This is the Bloomberg 721 00:37:36,440 --> 00:37:39,399 Speaker 1: Business of Sports show. We're here each and every week 722 00:37:39,440 --> 00:37:43,719 Speaker 1: at the same Time Plus online wherever you get your podcasts. 723 00:37:43,840 --> 00:37:46,560 Speaker 1: I'm Michael Barr on X. I have to have it 724 00:37:46,560 --> 00:37:49,360 Speaker 1: written down now because I'm old on X at. 725 00:37:49,200 --> 00:37:52,080 Speaker 4: Big Bar Sports and you can follow me on X. 726 00:37:52,120 --> 00:37:54,920 Speaker 4: I still can't get over seeing X. See Twitter to 727 00:37:54,960 --> 00:37:59,080 Speaker 4: me anyway. I'm at Scarlett Foe and I'm on X 728 00:37:59,120 --> 00:37:59,839 Speaker 4: at d SAS. 729 00:38:01,360 --> 00:38:03,680 Speaker 1: Thanks for joining us. Tune in again next week for 730 00:38:03,800 --> 00:38:06,360 Speaker 1: the latest on the stories moving big old money in 731 00:38:06,360 --> 00:38:08,560 Speaker 1: the world of sports. You're listening to the Bloomberg Business 732 00:38:08,600 --> 00:38:11,240 Speaker 1: of Sports Bloomberg Radio around the world.