1 00:00:02,440 --> 00:00:06,760 Speaker 1: Bloomberg Audio Studios, Podcasts, Radio News. 2 00:00:07,640 --> 00:00:10,240 Speaker 2: This is Bloomberg Business of Sports. 3 00:00:10,400 --> 00:00:13,200 Speaker 3: Business of Sports can be intimidating for hard for a 4 00:00:13,240 --> 00:00:14,120 Speaker 3: start to break into. 5 00:00:14,280 --> 00:00:17,279 Speaker 4: We really appreciate when our owners are actually there, you know, 6 00:00:17,360 --> 00:00:18,439 Speaker 4: with us through the journey. 7 00:00:18,480 --> 00:00:22,000 Speaker 5: Teams ours especially have been very intentional to diversify at 8 00:00:22,040 --> 00:00:23,000 Speaker 5: all levels of the company. 9 00:00:23,120 --> 00:00:25,200 Speaker 6: I think we're in the golden years for the NFL 10 00:00:25,400 --> 00:00:26,320 Speaker 6: and college football. 11 00:00:26,400 --> 00:00:29,400 Speaker 7: Our demographic reach has continued to explode. 12 00:00:29,520 --> 00:00:33,160 Speaker 5: This is going to be really unlocking the streaming platform 13 00:00:33,240 --> 00:00:34,160 Speaker 5: for sports fans. 14 00:00:34,240 --> 00:00:36,720 Speaker 6: Sports valuations arising, we'll see when they peak. 15 00:00:36,800 --> 00:00:39,360 Speaker 8: You don't have to be the best in your sports 16 00:00:39,440 --> 00:00:42,320 Speaker 8: to make a whole ton of money. 17 00:00:42,360 --> 00:00:45,280 Speaker 2: Bloomberg Business of Sports from Bloomberg Radio. 18 00:00:46,280 --> 00:00:48,440 Speaker 5: This is the Bloomberg Business of Sports show where we 19 00:00:48,479 --> 00:00:50,720 Speaker 5: explore the big money issues in the world of sports. 20 00:00:50,880 --> 00:00:53,000 Speaker 6: I'm Scarlett Foods and I'm demon sas hour. 21 00:00:53,120 --> 00:00:55,520 Speaker 5: Michael Barr is off this week, but coming up on 22 00:00:55,680 --> 00:00:58,080 Speaker 5: this week's show, we talk about what's next in sports 23 00:00:58,160 --> 00:01:01,680 Speaker 5: venues with Tim liwikikive officer at Oakview Group. 24 00:01:01,800 --> 00:01:03,960 Speaker 7: I think you're going to see forty new stadiums built 25 00:01:04,319 --> 00:01:08,440 Speaker 7: in the Middle East, Europe, in the UK, mostly geared 26 00:01:08,480 --> 00:01:11,120 Speaker 7: towards football clubs. I think you're going to see forty 27 00:01:11,160 --> 00:01:14,640 Speaker 7: arenas built like co Op Live. And so if you 28 00:01:14,680 --> 00:01:18,080 Speaker 7: do the simple math and the average arena is five 29 00:01:18,160 --> 00:01:21,959 Speaker 7: hundred million euros, you're talking about a significant amount of 30 00:01:21,959 --> 00:01:24,240 Speaker 7: money that's going to be spent on arenas. 31 00:01:24,360 --> 00:01:26,800 Speaker 6: Plus, we'll check out the sports scene in Salt Lake 32 00:01:26,880 --> 00:01:29,600 Speaker 6: City and soccer's rise in the US with the president 33 00:01:29,840 --> 00:01:31,720 Speaker 6: of Real Salt Lake John Kimball. 34 00:01:31,840 --> 00:01:34,080 Speaker 5: All that and more is on the way. But first 35 00:01:34,240 --> 00:01:36,360 Speaker 5: we look ahead to the NFL Draft. 36 00:01:36,560 --> 00:01:36,960 Speaker 1: Damien. 37 00:01:37,280 --> 00:01:39,320 Speaker 5: It's mid to late April. This is not when we 38 00:01:39,360 --> 00:01:42,319 Speaker 5: talk about the NFL, yet it somehow always shows up. 39 00:01:42,440 --> 00:01:42,759 Speaker 8: Scott. 40 00:01:42,800 --> 00:01:44,520 Speaker 6: I know what world you're living in. We always talk 41 00:01:44,520 --> 00:01:47,160 Speaker 6: about the NFL. We Jet fans live for the draft, 42 00:01:47,160 --> 00:01:48,640 Speaker 6: and as Brock Power is going to the Jets at 43 00:01:48,680 --> 00:01:50,960 Speaker 6: number ten, that's what the consensus thinks. But we know 44 00:01:51,080 --> 00:01:52,880 Speaker 6: for a fact we're going to see some quarterbacks at 45 00:01:52,880 --> 00:01:54,720 Speaker 6: the top of the first and you know, it looks 46 00:01:54,720 --> 00:01:56,400 Speaker 6: like Caleb Williams is going to Chicago. 47 00:01:57,160 --> 00:01:59,920 Speaker 5: Okay, hold on, You've got the MLB season starting off, 48 00:02:00,040 --> 00:02:03,680 Speaker 5: You've got playoffs in hockey and basketball about to take place, 49 00:02:03,880 --> 00:02:05,400 Speaker 5: and we're still talking about the NFL Draft. 50 00:02:05,520 --> 00:02:07,960 Speaker 6: Absolutely, of course we are. This is how teams get better, 51 00:02:08,000 --> 00:02:10,960 Speaker 6: How the New York Jets rise like the phoenix from 52 00:02:11,000 --> 00:02:11,720 Speaker 6: the ashes scrolled. 53 00:02:11,760 --> 00:02:13,960 Speaker 5: Oh my gosh, the Jets once again. So here now 54 00:02:14,000 --> 00:02:16,440 Speaker 5: to help us preview the NFL Draft, plus share his 55 00:02:16,480 --> 00:02:19,799 Speaker 5: thoughts on player money management. We welcome former NFL pro 56 00:02:19,919 --> 00:02:23,239 Speaker 5: and athletes dot Org co founder and CEO Randon Copeland. 57 00:02:23,320 --> 00:02:24,200 Speaker 8: Thanks for having me. 58 00:02:24,240 --> 00:02:25,920 Speaker 7: How you gotta doing doing. 59 00:02:25,680 --> 00:02:27,640 Speaker 6: Well, mate, doing well? So we got to talk draft. 60 00:02:27,680 --> 00:02:29,680 Speaker 6: We got the NFL Draft coming up in just about 61 00:02:29,960 --> 00:02:31,840 Speaker 6: well a few days from now, and it looks like 62 00:02:31,880 --> 00:02:33,799 Speaker 6: a lot of quarterbacks are going in the first round. 63 00:02:34,040 --> 00:02:35,280 Speaker 6: You know, talk to us a little bit about what 64 00:02:35,360 --> 00:02:37,040 Speaker 6: your thoughts are. I mean, you were just at that 65 00:02:37,160 --> 00:02:39,919 Speaker 6: NFL workshop in New York City. Talk to us about 66 00:02:39,960 --> 00:02:41,760 Speaker 6: you know, what people are saying, what they're thinking here. 67 00:02:41,960 --> 00:02:43,520 Speaker 8: Yeah, I mean, like I said, at a lot of 68 00:02:43,560 --> 00:02:48,320 Speaker 8: quarterbacks hopefully making a lot of franchises happy this year. Obviously, 69 00:02:48,360 --> 00:02:51,160 Speaker 8: you know, Caleb is going number one, and you know 70 00:02:51,200 --> 00:02:54,400 Speaker 8: that'll be really interesting to see. And you know we're 71 00:02:54,440 --> 00:02:56,680 Speaker 8: all going to assume that Chicago will put pieces around 72 00:02:56,720 --> 00:02:58,160 Speaker 8: him and continue to put pieces around him. 73 00:02:58,200 --> 00:02:59,480 Speaker 3: That can support. 74 00:02:59,160 --> 00:03:03,400 Speaker 8: Him in his trajectory right in that next phase, in 75 00:03:03,440 --> 00:03:06,480 Speaker 8: that next evolution. I mean obviously with Draft one, I 76 00:03:06,480 --> 00:03:09,360 Speaker 8: mean I'm even going to take it a step backwards 77 00:03:09,400 --> 00:03:11,560 Speaker 8: here because obviously we could talk about the players, but 78 00:03:12,040 --> 00:03:15,240 Speaker 8: being a former Detroit Lion coming off of the season 79 00:03:15,240 --> 00:03:17,280 Speaker 8: that they just had and then now having the draft 80 00:03:17,280 --> 00:03:20,720 Speaker 8: in Detroit, I mean, the city is just an absolute fire. 81 00:03:20,800 --> 00:03:23,240 Speaker 8: I've had so many people reach out, ho are you 82 00:03:23,240 --> 00:03:24,600 Speaker 8: coming back for the draft? How are you coming back 83 00:03:24,600 --> 00:03:26,520 Speaker 8: for the draft. So I just really want to give 84 00:03:26,560 --> 00:03:28,440 Speaker 8: a big shout out to Detroit because you know, they 85 00:03:28,960 --> 00:03:32,000 Speaker 8: they are pushing for their breakthrough right now, and it's 86 00:03:32,040 --> 00:03:34,600 Speaker 8: just exciting time to be a Detroit fan. 87 00:03:34,920 --> 00:03:38,640 Speaker 6: Brandon, you're selling Detroit and Michael Barr isn't even here 88 00:03:38,640 --> 00:03:40,680 Speaker 6: in the studio with us. Man, he's going to be 89 00:03:40,680 --> 00:03:42,640 Speaker 6: so upset to hear that. But listen, y'all, only did 90 00:03:42,640 --> 00:03:44,680 Speaker 6: you play for the Lions, and not only did you 91 00:03:44,680 --> 00:03:46,520 Speaker 6: grow up in Baltimore and play for the Ravens, but 92 00:03:46,560 --> 00:03:49,600 Speaker 6: you also played for the New York Jets. So talk 93 00:03:49,640 --> 00:03:53,120 Speaker 6: to us about pick number ten. Everyone thinks the Jets 94 00:03:53,120 --> 00:03:55,840 Speaker 6: are taking brock Bauers tight end from Georgia with that selection. 95 00:03:55,960 --> 00:03:57,840 Speaker 6: But you know one thing that I don't think a 96 00:03:57,880 --> 00:03:59,320 Speaker 6: lot of people think about when they're looking at the 97 00:03:59,360 --> 00:04:03,160 Speaker 6: top ten picks. You know those those are premier position, 98 00:04:03,240 --> 00:04:06,920 Speaker 6: you know, like edge, you know, offensive tackle, quarterback. You 99 00:04:06,960 --> 00:04:09,000 Speaker 6: know you have to wide receiver, right, you have to 100 00:04:09,080 --> 00:04:12,320 Speaker 6: take like a position like that for to me to 101 00:04:12,360 --> 00:04:14,680 Speaker 6: make sense from from a GM standpoints, isn't that right? 102 00:04:15,080 --> 00:04:17,800 Speaker 8: Yeah? I mean I definitely agree with you. And you 103 00:04:17,839 --> 00:04:21,440 Speaker 8: know that it's not taking anything away from brock Bauers, right, 104 00:04:21,520 --> 00:04:23,600 Speaker 8: Like if you can give Aaron Rodgers a weapon, or 105 00:04:23,640 --> 00:04:26,200 Speaker 8: if you can give him somebody that can protect him 106 00:04:26,240 --> 00:04:29,000 Speaker 8: and protect your weapon as a franchise, and you know 107 00:04:29,080 --> 00:04:31,640 Speaker 8: that's definitely what you need to prioritize there. The Jets 108 00:04:31,920 --> 00:04:34,880 Speaker 8: from a defensive standpoint, I mean, you know one obviously 109 00:04:34,920 --> 00:04:37,200 Speaker 8: their head coach being the defensive mind, but then CJ. 110 00:04:37,320 --> 00:04:40,000 Speaker 8: Mosley and that team in the middle, and you know, 111 00:04:40,240 --> 00:04:43,200 Speaker 8: from a defensive standpoint, they'll they'll be all right, they'll 112 00:04:43,240 --> 00:04:45,599 Speaker 8: be able to manage. But from an offensive standpoint, you 113 00:04:45,680 --> 00:04:49,279 Speaker 8: got to find a way to either, as I mentioned before, 114 00:04:49,440 --> 00:04:53,960 Speaker 8: give Aaron Rodgers a weapon or protect your most important 115 00:04:54,000 --> 00:04:57,040 Speaker 8: weapon this year, which is bostering up that offensive line. 116 00:04:57,200 --> 00:05:00,240 Speaker 5: All right, So NFL fans are just bracing themselves for 117 00:05:00,240 --> 00:05:03,080 Speaker 5: a slew of developments here over the next couple of days. 118 00:05:03,320 --> 00:05:06,120 Speaker 5: I want to transition Brandon too your work at athletes 119 00:05:06,160 --> 00:05:09,279 Speaker 5: dot org, which is a nonprofit providing knowledge, access and 120 00:05:09,360 --> 00:05:14,400 Speaker 5: protection to member athletes to support they're trying to understand 121 00:05:14,440 --> 00:05:17,920 Speaker 5: this changing landscape of college athletics. We saw the Dartmouth 122 00:05:18,000 --> 00:05:22,840 Speaker 5: men's basketball team make history by voting to unionize, and 123 00:05:23,240 --> 00:05:26,040 Speaker 5: there's a lot of concern or excitement depending on your 124 00:05:26,080 --> 00:05:30,279 Speaker 5: perspective on how other schools might follow in their footsteps. 125 00:05:30,760 --> 00:05:33,880 Speaker 5: What's your take on whether a college players in football 126 00:05:34,320 --> 00:05:35,320 Speaker 5: should be in a union? 127 00:05:35,600 --> 00:05:37,960 Speaker 8: Yeah, I think you know one. We built athletes dot 128 00:05:38,120 --> 00:05:42,000 Speaker 8: org as a player's association and not a union first because, 129 00:05:42,480 --> 00:05:46,440 Speaker 8: as you mentioned right like, athletes aren't able to unionize 130 00:05:46,600 --> 00:05:49,560 Speaker 8: per se because they haven't been designated as employees across 131 00:05:49,560 --> 00:05:53,000 Speaker 8: the board. So we have a flexible structure of flexible 132 00:05:53,080 --> 00:05:58,040 Speaker 8: nature because based off of our chapter model, we can 133 00:05:58,560 --> 00:06:03,560 Speaker 8: have ACC Men's basketball, ACC Women's basketball, SEC football, SEC 134 00:06:03,600 --> 00:06:08,440 Speaker 8: Olympic sports, for example, and now those chapters become the 135 00:06:08,560 --> 00:06:11,680 Speaker 8: advocacy groups and the mini players associations and if a 136 00:06:11,760 --> 00:06:15,680 Speaker 8: chapter needs to unionize, they can, right, And so we 137 00:06:15,800 --> 00:06:19,800 Speaker 8: built flexibility in the structure because ultimately, to me, I 138 00:06:19,920 --> 00:06:23,920 Speaker 8: understand that the biggest from a political standpoint and also 139 00:06:23,960 --> 00:06:27,239 Speaker 8: a legal standpoint, the biggest conversation is about employment versus 140 00:06:27,240 --> 00:06:29,560 Speaker 8: non employment. But to be honest with you, the reason 141 00:06:29,600 --> 00:06:31,120 Speaker 8: why I made it ten years in the NFL is 142 00:06:31,120 --> 00:06:33,440 Speaker 8: because I kept it really, really simple. And when I 143 00:06:33,480 --> 00:06:36,080 Speaker 8: look at the problems we're solving at athletes dot Org, 144 00:06:36,520 --> 00:06:39,040 Speaker 8: we are trying to make sure that athletes get a 145 00:06:39,120 --> 00:06:41,839 Speaker 8: chance to maximize their platform and walk away from it 146 00:06:41,920 --> 00:06:45,320 Speaker 8: with more than just memories, right right, And to be honest, 147 00:06:45,440 --> 00:06:48,760 Speaker 8: we've had a couple of historic weeks, right We've gotten 148 00:06:49,360 --> 00:06:53,200 Speaker 8: our athletes represented Power five men's and women's basketball players, 149 00:06:53,240 --> 00:06:56,680 Speaker 8: football players, and Olympic sport athletes in the room with 150 00:06:56,960 --> 00:07:00,760 Speaker 8: the NCAA, with conference commissioners, and with athletic directors, and 151 00:07:00,800 --> 00:07:03,640 Speaker 8: we've talked about these issues and we found out that 152 00:07:03,800 --> 00:07:09,880 Speaker 8: you know, hey, we're setting ourselves up for more impactful 153 00:07:09,960 --> 00:07:14,760 Speaker 8: discussions about the future of college athletics. And ultimately, as 154 00:07:14,760 --> 00:07:16,760 Speaker 8: I say there, you know, I bring all that up 155 00:07:16,800 --> 00:07:21,000 Speaker 8: to say, you know, for me, what people are finding is. 156 00:07:21,080 --> 00:07:23,400 Speaker 8: I know the conversation is a lot about revenue sharing, 157 00:07:23,440 --> 00:07:26,800 Speaker 8: but you know, our athletes are also advocating for health 158 00:07:26,800 --> 00:07:30,600 Speaker 8: and safety protocols and practice limitations and mental wellness resources 159 00:07:30,600 --> 00:07:33,360 Speaker 8: and things of that nature. They're also advocating for protection 160 00:07:33,480 --> 00:07:36,360 Speaker 8: as well too, And so whether it's a union or 161 00:07:36,440 --> 00:07:39,240 Speaker 8: non union, again, I love I'm a little biased. I 162 00:07:39,240 --> 00:07:41,160 Speaker 8: will admit that. I'll go ahead and admit that right now, 163 00:07:41,200 --> 00:07:42,400 Speaker 8: I'm a little biased. I like our. 164 00:07:42,280 --> 00:07:43,080 Speaker 3: Structure the best. 165 00:07:43,920 --> 00:07:47,720 Speaker 8: But the reason why we built our structure is because listen, me, 166 00:07:47,760 --> 00:07:50,160 Speaker 8: as an IVY League football player at Pen, the issues 167 00:07:50,200 --> 00:07:53,040 Speaker 8: that I dealt with are different than what an athlete 168 00:07:53,040 --> 00:07:56,440 Speaker 8: from Alabama and dealing with today. And by us using 169 00:07:56,480 --> 00:07:59,520 Speaker 8: the chapter strategy, it gives us the flexibility and make 170 00:07:59,560 --> 00:08:03,800 Speaker 8: sure we're advocating for specific issues to those athletes and 171 00:08:03,840 --> 00:08:05,120 Speaker 8: those those chapters. 172 00:08:05,360 --> 00:08:07,480 Speaker 5: Thank you for explaining that, and I think what comes 173 00:08:07,480 --> 00:08:10,200 Speaker 5: through is the nature of the advocacy and the need 174 00:08:10,240 --> 00:08:12,840 Speaker 5: for that advocacy. I'm also curious to get your take 175 00:08:13,000 --> 00:08:16,920 Speaker 5: on the NBA banning the Toronto Raptors for John tay 176 00:08:16,960 --> 00:08:19,600 Speaker 5: Porter from the League for Life for betting on games. 177 00:08:20,000 --> 00:08:21,480 Speaker 5: Fallout from a gambling scandal. 178 00:08:21,840 --> 00:08:22,400 Speaker 1: I kind of. 179 00:08:22,320 --> 00:08:25,640 Speaker 5: Find it inevitable that someone would get caught in the 180 00:08:25,640 --> 00:08:29,280 Speaker 5: crosshairs of this. With the explosion of sports betting, and 181 00:08:29,360 --> 00:08:34,000 Speaker 5: of course the league, the league's plural really taking on 182 00:08:34,160 --> 00:08:38,040 Speaker 5: partnerships with these different sports betting companies as well. How 183 00:08:38,080 --> 00:08:42,040 Speaker 5: are you how are you thinking about educating players, college players, 184 00:08:42,040 --> 00:08:45,400 Speaker 5: even professional players when it comes to sports betting, because 185 00:08:45,679 --> 00:08:47,360 Speaker 5: it feels like there's going to be more of these 186 00:08:47,400 --> 00:08:49,840 Speaker 5: confrontations in the coming months and years. 187 00:08:50,120 --> 00:08:50,360 Speaker 9: Yeah. 188 00:08:50,520 --> 00:08:55,400 Speaker 8: No, absolutely, And one, you know, I choose not to 189 00:08:55,760 --> 00:08:57,600 Speaker 8: dive into some of those things a lot of times 190 00:08:57,640 --> 00:09:00,360 Speaker 8: because it's tragic to me because you know, you see 191 00:09:00,360 --> 00:09:05,760 Speaker 8: a young athlete who is losing their entire livelihood and 192 00:09:05,840 --> 00:09:10,240 Speaker 8: career for a split decision, and you know, rightfully, so 193 00:09:10,280 --> 00:09:12,080 Speaker 8: I mean that the integrity of the game is the 194 00:09:12,080 --> 00:09:14,080 Speaker 8: most important thing to the fans and to the other 195 00:09:14,080 --> 00:09:17,240 Speaker 8: players that are playing with that athlete, right And so 196 00:09:17,559 --> 00:09:20,240 Speaker 8: I will admit that I have not dove into all 197 00:09:20,360 --> 00:09:23,520 Speaker 8: the information, so I'm not going to speak super specific 198 00:09:23,520 --> 00:09:26,559 Speaker 8: about it, but ultimately there is a job that we 199 00:09:26,600 --> 00:09:29,400 Speaker 8: have as Athletes dot Org and as players associations to 200 00:09:29,600 --> 00:09:33,680 Speaker 8: educate athletes on you know, the long term win versus 201 00:09:33,679 --> 00:09:37,400 Speaker 8: the short term win. Right, It's almost an investing principle 202 00:09:37,840 --> 00:09:40,760 Speaker 8: to a certain extent. And yes, as you mentioned that, 203 00:09:40,880 --> 00:09:43,960 Speaker 8: it is the most popular thing in the world right now, 204 00:09:44,120 --> 00:09:46,920 Speaker 8: fantasy football and all the different betting lines. And now 205 00:09:46,920 --> 00:09:49,520 Speaker 8: if you just turn on regular ESPN, you see betting 206 00:09:49,559 --> 00:09:52,680 Speaker 8: lines all up and down the screen. And so it's 207 00:09:52,679 --> 00:09:56,200 Speaker 8: only going to become more and more prevalent when everyone 208 00:09:56,200 --> 00:09:58,240 Speaker 8: else in the world can do it but you can't. 209 00:09:58,720 --> 00:10:01,880 Speaker 8: But again, we have to make sure that we're increasing 210 00:10:01,880 --> 00:10:05,760 Speaker 8: the amount of education around it so that we can 211 00:10:05,840 --> 00:10:09,280 Speaker 8: make sure that we don't see, you know, budding careers 212 00:10:09,360 --> 00:10:11,880 Speaker 8: and over things like this in the future, because it's 213 00:10:11,880 --> 00:10:14,240 Speaker 8: to me again, it is it is definitely. 214 00:10:13,840 --> 00:10:14,560 Speaker 2: Tragic, all right. 215 00:10:14,559 --> 00:10:16,720 Speaker 5: Brandon Copeland, thank you so much for joining us. Brandon 216 00:10:16,760 --> 00:10:19,640 Speaker 5: Copeland is founder of Copeland Media, also co founder of 217 00:10:19,720 --> 00:10:20,880 Speaker 5: athletes doc Org. 218 00:10:21,400 --> 00:10:23,600 Speaker 6: Thank you for having me speaking of the NFL and 219 00:10:23,679 --> 00:10:26,960 Speaker 6: the draft. The latest episode of The Deal with Alex 220 00:10:27,040 --> 00:10:31,280 Speaker 6: Rodriguez and Jason Kelly features a former third overall pick 221 00:10:31,360 --> 00:10:36,640 Speaker 6: and likely first ballot Hall of Famer one, mister Larry Fitzgerald. 222 00:10:36,920 --> 00:10:40,280 Speaker 5: In this episode, they talk about Larry's career life after Football, 223 00:10:40,360 --> 00:10:43,280 Speaker 5: The Secrets of investing in How Arizona won his heart. 224 00:10:43,520 --> 00:10:46,199 Speaker 6: Let's listen to a portion of bad conversation about how 225 00:10:46,280 --> 00:10:49,320 Speaker 6: Larry's used his status as an NFL star to dive 226 00:10:49,559 --> 00:10:50,240 Speaker 6: into business. 227 00:10:50,480 --> 00:10:52,960 Speaker 4: I think sports is really unique. There's not many businesses 228 00:10:53,000 --> 00:10:55,040 Speaker 4: where you know, you go, you know to New York 229 00:10:55,080 --> 00:10:57,880 Speaker 4: and you know it will be very difficult for you know, 230 00:10:58,800 --> 00:11:01,080 Speaker 4: you know, a financial advisor or on the on the 231 00:11:01,120 --> 00:11:03,480 Speaker 4: fifth floor to go upstairs and talk to Jamie Diamond 232 00:11:03,760 --> 00:11:05,400 Speaker 4: and have a conversation with him, Like I just it 233 00:11:05,400 --> 00:11:07,760 Speaker 4: would be difficult, you know, Like, but you can do 234 00:11:07,760 --> 00:11:09,640 Speaker 4: that in sports. You can go talk to you know, 235 00:11:09,720 --> 00:11:13,320 Speaker 4: Mark Lazara, you can go talk to you know, Mark Cuban. 236 00:11:13,440 --> 00:11:15,480 Speaker 4: You know, some of the most successful business people in 237 00:11:15,520 --> 00:11:18,200 Speaker 4: the world. You have direct access to them. And so 238 00:11:18,440 --> 00:11:20,960 Speaker 4: why you would not utilize those opportunities makes no sense 239 00:11:21,000 --> 00:11:21,200 Speaker 4: to me. 240 00:11:21,880 --> 00:11:24,440 Speaker 10: Another thing we have in common is the NBA. But 241 00:11:24,520 --> 00:11:27,000 Speaker 10: it's ironic, right because we've been talking about Magic both 242 00:11:27,000 --> 00:11:30,680 Speaker 10: of our mentor and he played basketball and owns the Dodgers, right, 243 00:11:31,320 --> 00:11:33,400 Speaker 10: you played football and you're a part of the Sons, 244 00:11:33,440 --> 00:11:36,800 Speaker 10: And same with bas On Timberwolves and Links. When an 245 00:11:36,800 --> 00:11:40,280 Speaker 10: opportunity like that comes, how does it come? How does 246 00:11:40,320 --> 00:11:42,080 Speaker 10: that meeting? And like, how do you think about the 247 00:11:42,080 --> 00:11:44,240 Speaker 10: process of like I got to write a big check 248 00:11:44,760 --> 00:11:49,280 Speaker 10: and you only have so much capital, walk us through 249 00:11:49,360 --> 00:11:50,800 Speaker 10: that process. How do you think about it? 250 00:11:50,960 --> 00:11:51,160 Speaker 6: Yeah? 251 00:11:51,200 --> 00:11:53,800 Speaker 4: So, I mean I never really like set out to 252 00:11:54,480 --> 00:11:57,320 Speaker 4: like being in the NBA. It's not nothing I was 253 00:11:57,360 --> 00:12:00,400 Speaker 4: ever like really thinking about. But I just built a 254 00:12:00,440 --> 00:12:03,920 Speaker 4: relationship over ten years, you know, with the majority owner. 255 00:12:04,040 --> 00:12:06,560 Speaker 4: And now one day we were sitting at dinner and 256 00:12:06,559 --> 00:12:08,920 Speaker 4: he was just like, hey, Larry, I would love to 257 00:12:08,920 --> 00:12:11,120 Speaker 4: have you a part of my group. You know, you're 258 00:12:11,160 --> 00:12:14,080 Speaker 4: really thoughtful. You're insightful. I mean you have great recommendations 259 00:12:14,120 --> 00:12:17,360 Speaker 4: and this and that, and I was like, wow, that's interesting. 260 00:12:17,400 --> 00:12:20,079 Speaker 4: And then he said, you know this is what is 261 00:12:20,120 --> 00:12:24,079 Speaker 4: going And I said, I kind of go up through 262 00:12:24,080 --> 00:12:26,320 Speaker 4: my water. I'm had to get back to you on that, 263 00:12:26,400 --> 00:12:28,920 Speaker 4: and you know, but you know, it's a decision I 264 00:12:28,960 --> 00:12:30,640 Speaker 4: really am thankful that I made. 265 00:12:30,679 --> 00:12:33,720 Speaker 5: That is former NFL star Larry Fitzgerald speaking with Alex 266 00:12:33,840 --> 00:12:37,120 Speaker 5: Rodriguez and Jason Kelly in the latest edition of The Deal. 267 00:12:37,520 --> 00:12:39,760 Speaker 6: Check it out on Fridays at seven pm Eastern on 268 00:12:39,800 --> 00:12:43,120 Speaker 6: Bloomberg Television. Streaming on Thursdays at nine pm Eastern on 269 00:12:43,240 --> 00:12:47,200 Speaker 6: Bloomberg Originals and find it on your favorite podcast platform. 270 00:12:47,320 --> 00:12:49,640 Speaker 5: Up next, we turned to soccer and the sports scene 271 00:12:49,640 --> 00:12:52,280 Speaker 5: in Salt Lake City with the president of Real Salt Lake. 272 00:12:52,640 --> 00:12:54,840 Speaker 3: What's so interesting is that I think they get here 273 00:12:54,960 --> 00:12:56,800 Speaker 3: and they fall in love with our community. 274 00:12:57,040 --> 00:12:59,960 Speaker 6: You're listening to Bloomberg Business of Sports from Bloomberg Radio. 275 00:13:00,440 --> 00:13:06,800 Speaker 2: Around the world, You're listening to Bloomberg Business of Sports 276 00:13:07,000 --> 00:13:08,240 Speaker 2: from Bloomberg Radio. 277 00:13:09,400 --> 00:13:11,720 Speaker 5: This is the Bloomberg Business of Sports show where we 278 00:13:11,760 --> 00:13:13,920 Speaker 5: explore the big money issues in the world of sports. 279 00:13:14,000 --> 00:13:17,120 Speaker 5: I'm Scarlett Foo along with Damian Sasaur. Michael Barr will 280 00:13:17,120 --> 00:13:17,959 Speaker 5: be back next week. 281 00:13:18,120 --> 00:13:21,960 Speaker 6: The Arizona Coyotes are on the move. The NHL's executive 282 00:13:21,960 --> 00:13:25,120 Speaker 6: Committee recently approved their move to Salt Lake City, Utah. 283 00:13:25,240 --> 00:13:28,080 Speaker 5: And it's really part of a growing sports ecosystem in 284 00:13:28,120 --> 00:13:31,080 Speaker 5: Salt Lake City that also features soccer with Rael Salt 285 00:13:31,160 --> 00:13:32,559 Speaker 5: Lake of the MLS. 286 00:13:32,559 --> 00:13:36,040 Speaker 4: Raal Salt Lake with back to back wins for the 287 00:13:36,040 --> 00:13:41,240 Speaker 4: first time since last October, and it is Chijo Rado 288 00:13:41,440 --> 00:13:42,880 Speaker 4: with his crowning. 289 00:13:42,520 --> 00:13:45,440 Speaker 5: Moment for Rayo here now to talk about the club 290 00:13:45,480 --> 00:13:48,280 Speaker 5: and the sports scene in Utah is John Kimball, President 291 00:13:48,360 --> 00:13:49,240 Speaker 5: of Rael Salt Lake. 292 00:13:49,520 --> 00:13:50,720 Speaker 1: John, so good to speak with you. 293 00:13:51,040 --> 00:13:51,920 Speaker 9: It's such pleasure. 294 00:13:51,960 --> 00:13:53,160 Speaker 3: Thanks for having me today. 295 00:13:53,720 --> 00:13:54,920 Speaker 1: We're thrilled to have you on. 296 00:13:55,240 --> 00:13:58,679 Speaker 5: And what I noticed about your background is that you're 297 00:13:58,720 --> 00:14:01,640 Speaker 5: a Utah native and a veteran of the sports scene 298 00:14:02,200 --> 00:14:05,080 Speaker 5: in that state. You're one of the founding executives of 299 00:14:05,120 --> 00:14:07,160 Speaker 5: Real Salt Lake, and then you're a president of the 300 00:14:07,240 --> 00:14:10,040 Speaker 5: Utah Jazz's home arena. You're president once again of Real 301 00:14:10,160 --> 00:14:14,080 Speaker 5: Salt Lake. There's no shortage of sports activities in Utah. 302 00:14:14,160 --> 00:14:17,600 Speaker 5: I'm thinking skiing, mountain, biking, hiking, golf, golf. 303 00:14:17,800 --> 00:14:18,560 Speaker 1: Thank you, Damien. 304 00:14:19,040 --> 00:14:21,880 Speaker 5: What is distinctive about Salt Lake as a sports town 305 00:14:22,120 --> 00:14:23,080 Speaker 5: for team sports? 306 00:14:23,440 --> 00:14:26,800 Speaker 3: You know, it's growing, that's the most exciting thing. There's 307 00:14:26,840 --> 00:14:29,480 Speaker 3: a lot of exciting things that are coming. But the 308 00:14:29,600 --> 00:14:32,280 Speaker 3: Utah Jazz really kind of kicked it off with just 309 00:14:32,320 --> 00:14:36,480 Speaker 3: a solid NBA presence, and then we've had our team 310 00:14:36,600 --> 00:14:39,800 Speaker 3: come in as the second professional team, and we have 311 00:14:39,960 --> 00:14:43,520 Speaker 3: phenomenal support from our fan base. Everybody here, you know, 312 00:14:43,600 --> 00:14:47,640 Speaker 3: in our market is very athletic and very supportive. Now 313 00:14:47,640 --> 00:14:48,960 Speaker 3: we've got a women's team with. 314 00:14:49,040 --> 00:14:51,600 Speaker 9: The with the Utah Royals that has just kicked off 315 00:14:51,640 --> 00:14:55,320 Speaker 9: this year as well, and we have a very dominant 316 00:14:55,360 --> 00:14:59,960 Speaker 9: female presence as well in the soccer world, in college 317 00:15:00,120 --> 00:15:04,160 Speaker 9: in particular. But yeah, you talked just a very active 318 00:15:04,240 --> 00:15:07,360 Speaker 9: State Olympics. There's a lot of different things that come 319 00:15:07,440 --> 00:15:09,920 Speaker 9: through here, and we're proud to kind of be the 320 00:15:09,960 --> 00:15:10,640 Speaker 9: state of sport. 321 00:15:11,240 --> 00:15:13,000 Speaker 6: And I'd love to ask you about all that stuff, 322 00:15:13,000 --> 00:15:15,800 Speaker 6: including I mean, the Arizona Coyotes of the NHL are 323 00:15:15,800 --> 00:15:17,920 Speaker 6: going to be relocating to your neck of the woods. 324 00:15:17,920 --> 00:15:19,760 Speaker 6: But before I ask you about any of that, talk 325 00:15:19,760 --> 00:15:22,480 Speaker 6: to me about Christian Argo. I mean, come on, man, 326 00:15:22,560 --> 00:15:25,400 Speaker 6: six goals this year leading the MLS. 327 00:15:25,320 --> 00:15:27,280 Speaker 2: O chiech Orango into the penalty. I go, go, oh 328 00:15:27,320 --> 00:15:28,640 Speaker 2: my god, the other trying to cut you. 329 00:15:28,640 --> 00:15:34,920 Speaker 1: On, so brilliance pur Chase Orongo. 330 00:15:35,080 --> 00:15:37,000 Speaker 6: He's also played seve hundred and fifteen minutes, which is 331 00:15:37,160 --> 00:15:40,239 Speaker 6: a lot. Talk to us about the team. It's prospects, 332 00:15:40,240 --> 00:15:41,280 Speaker 6: talk to us about the season. 333 00:15:41,800 --> 00:15:44,080 Speaker 3: You know, it's just so exciting because we're just one 334 00:15:44,080 --> 00:15:47,080 Speaker 3: of those teams that is just right at its tipping point. 335 00:15:47,680 --> 00:15:52,360 Speaker 3: Last Saturday against Columbus, we just had massive possession of 336 00:15:52,400 --> 00:15:55,200 Speaker 3: the game and we're just you know, ready to score. 337 00:15:55,280 --> 00:15:58,560 Speaker 3: It felt like fifteen goals, but unfortunately ended up with 338 00:15:58,600 --> 00:16:03,160 Speaker 3: a zero zero tie one of those nights. But Christian 339 00:16:03,280 --> 00:16:05,320 Speaker 3: is just you know, not only is just is he 340 00:16:05,360 --> 00:16:08,960 Speaker 3: an amazing athlete, He's just an amazing human being. And 341 00:16:09,040 --> 00:16:13,280 Speaker 3: he's come in and made our locker room solidify. He's 342 00:16:13,360 --> 00:16:17,280 Speaker 3: rallied the players around him. Uh, and we'd really truly 343 00:16:17,480 --> 00:16:20,640 Speaker 3: truly have that identity of the team as the star, 344 00:16:20,840 --> 00:16:22,240 Speaker 3: you know, John's kind of I. 345 00:16:22,200 --> 00:16:23,720 Speaker 6: Just have to ask you that. I mean, you know, 346 00:16:23,720 --> 00:16:26,840 Speaker 6: you're drawing these players from abroad into Salt Lake City, 347 00:16:26,920 --> 00:16:28,800 Speaker 6: and you know, they really do become a culture of 348 00:16:28,800 --> 00:16:29,520 Speaker 6: the team, do they not? 349 00:16:29,920 --> 00:16:32,600 Speaker 3: Absolutely? Because what's so interesting is that I think they 350 00:16:32,640 --> 00:16:35,119 Speaker 3: get here and they fall in love with our community 351 00:16:35,560 --> 00:16:38,040 Speaker 3: and they truly just want to be here, and they 352 00:16:38,040 --> 00:16:40,400 Speaker 3: want to raise their families here and they want to 353 00:16:40,440 --> 00:16:43,240 Speaker 3: create families here. And once they feel like they're a 354 00:16:43,280 --> 00:16:46,920 Speaker 3: part of this community, then it becomes that passionate thing 355 00:16:46,960 --> 00:16:50,840 Speaker 3: you see in European soccer around the world where communities 356 00:16:50,960 --> 00:16:54,200 Speaker 3: just back their clubs and and I really feel our 357 00:16:54,240 --> 00:16:56,560 Speaker 3: players feel that once they are here for a year. 358 00:16:57,040 --> 00:16:59,920 Speaker 5: Yeah, speaking of drawing talent from abroad, I've got to 359 00:17:00,040 --> 00:17:03,120 Speaker 5: ask you about Lionel Messi's impact on Major League Soccer 360 00:17:03,280 --> 00:17:06,720 Speaker 5: as a whole and how that really opens the door 361 00:17:06,800 --> 00:17:10,000 Speaker 5: for more talent to come in their prime, not just 362 00:17:10,119 --> 00:17:13,159 Speaker 5: after they've done everything they wanted to accomplish in Europe 363 00:17:13,520 --> 00:17:16,159 Speaker 5: and for their home country and then finally seed MLS 364 00:17:16,200 --> 00:17:17,200 Speaker 5: as kind of their swan song. 365 00:17:17,560 --> 00:17:17,720 Speaker 7: Yeah. 366 00:17:17,760 --> 00:17:20,120 Speaker 3: And if you have the chance to watch the Beckham 367 00:17:20,160 --> 00:17:23,160 Speaker 3: story that's on currently. 368 00:17:23,880 --> 00:17:25,600 Speaker 1: Oh, that's a great, great documentary. 369 00:17:26,160 --> 00:17:28,080 Speaker 3: Yeah, and it sures you how it started with him 370 00:17:28,119 --> 00:17:29,800 Speaker 3: and how he made a big choice to come here 371 00:17:29,840 --> 00:17:33,800 Speaker 3: and what it honestly does. It just absolutely legitimizes what 372 00:17:33,800 --> 00:17:37,439 Speaker 3: we're doing in the United States, and it's building to 373 00:17:37,680 --> 00:17:40,280 Speaker 3: what is going to be the largest sporting event in 374 00:17:40,320 --> 00:17:43,080 Speaker 3: the history of the world, which is World Cup in 375 00:17:43,119 --> 00:17:44,000 Speaker 3: twenty twenty six. 376 00:17:44,119 --> 00:17:44,840 Speaker 2: Yeah. Yeah. 377 00:17:44,880 --> 00:17:47,760 Speaker 3: And to have these carpets like David Beckham and Messi 378 00:17:47,920 --> 00:17:51,120 Speaker 3: rolled out to the United States to educate us, help 379 00:17:51,160 --> 00:17:54,520 Speaker 3: us understand the beautiful game, and then literally to have 380 00:17:54,560 --> 00:17:57,119 Speaker 3: the largest sporting event in the history of the world 381 00:17:57,280 --> 00:18:00,439 Speaker 3: held in a couple of years is really an amazing 382 00:18:00,560 --> 00:18:03,800 Speaker 3: tipping point for US as a as a league, for 383 00:18:03,880 --> 00:18:06,440 Speaker 3: the sport in America. And I think it's going to 384 00:18:06,560 --> 00:18:10,520 Speaker 3: just be a floodgate of new talent, amazing talent coming 385 00:18:10,560 --> 00:18:12,440 Speaker 3: from around the world to the United States. 386 00:18:12,680 --> 00:18:14,320 Speaker 5: A quick question just to fallow up on that, do 387 00:18:14,359 --> 00:18:18,720 Speaker 5: you anticipate more big international talent to come before the 388 00:18:18,720 --> 00:18:19,720 Speaker 5: World Cup takes place? 389 00:18:20,160 --> 00:18:20,800 Speaker 9: Absolutely? 390 00:18:20,880 --> 00:18:23,800 Speaker 3: We I was just at League meetings and that's that's 391 00:18:23,800 --> 00:18:26,439 Speaker 3: an initiative. We want to open, you know, the gates 392 00:18:26,440 --> 00:18:29,080 Speaker 3: to the world. And I think it's you know, Messi 393 00:18:29,200 --> 00:18:32,960 Speaker 3: and Beckham and others have shown that coming here is 394 00:18:33,480 --> 00:18:36,439 Speaker 3: fantastic not only for themselves in their careers, but for 395 00:18:36,520 --> 00:18:39,520 Speaker 3: their families. And I think there's a lot of players 396 00:18:39,560 --> 00:18:42,719 Speaker 3: that think that, you know, the United States is one 397 00:18:42,800 --> 00:18:46,040 Speaker 3: of those areas that has so much growth and potential 398 00:18:46,480 --> 00:18:48,480 Speaker 3: that they can really come and make an amazing name 399 00:18:48,480 --> 00:18:50,000 Speaker 3: for themselves in the United States. 400 00:18:50,200 --> 00:18:51,639 Speaker 6: Well, John, as you know it's called it. We'll a 401 00:18:51,720 --> 00:18:53,119 Speaker 6: test I mean the city of New York just to 402 00:18:53,119 --> 00:18:56,320 Speaker 6: prove the seven hundred and eighty million dollars soccer Stadium 403 00:18:56,320 --> 00:18:58,680 Speaker 6: which is landing to open twenty twenty seven. So obviously 404 00:18:58,800 --> 00:19:01,520 Speaker 6: MLS is drawing them money in right, and it must 405 00:19:01,520 --> 00:19:03,560 Speaker 6: be doing well, I would think, And you know, you're 406 00:19:03,560 --> 00:19:05,920 Speaker 6: absolutely right to look ahead to Paris. Right, let's look 407 00:19:05,920 --> 00:19:08,320 Speaker 6: ahead to the Olympics. The men's national team, the women's 408 00:19:08,359 --> 00:19:11,240 Speaker 6: national team. You know, talk to us about Gien Lacabucio, 409 00:19:11,359 --> 00:19:14,080 Speaker 6: talk to us about what we could hope to see 410 00:19:14,160 --> 00:19:16,600 Speaker 6: from the US. I mean in Paris. 411 00:19:17,040 --> 00:19:19,040 Speaker 3: You know, that's what I think is going to be 412 00:19:19,080 --> 00:19:22,760 Speaker 3: the amazing stories here is that. You know, my expectation 413 00:19:22,880 --> 00:19:24,720 Speaker 3: is they're just going to shock the world and we're 414 00:19:24,760 --> 00:19:27,040 Speaker 3: just going to do the things that we love to 415 00:19:27,080 --> 00:19:30,959 Speaker 3: do with Americans and just go out, show up and 416 00:19:31,000 --> 00:19:34,600 Speaker 3: make a name for ourselves, build that that momentum to 417 00:19:34,720 --> 00:19:37,960 Speaker 3: twenty six. When it comes to the United States, I'm. 418 00:19:37,840 --> 00:19:39,639 Speaker 6: Just drinking the kool aid here, and I mean, you're right. 419 00:19:39,680 --> 00:19:41,840 Speaker 6: I mean what's interesting also is when the World Cup 420 00:19:41,880 --> 00:19:43,440 Speaker 6: does come here to the US, it's also coming to 421 00:19:43,520 --> 00:19:46,720 Speaker 6: Canada and Mexico. I believe there's sixteen stadiums are going 422 00:19:46,760 --> 00:19:49,000 Speaker 6: to be hosting I mean all throughout the country. I mean, 423 00:19:49,359 --> 00:19:52,199 Speaker 6: what sort of prep work goes hand in hand with that? 424 00:19:52,320 --> 00:19:55,040 Speaker 6: And how does Utah, how does Reale Salt Lake get 425 00:19:55,080 --> 00:19:55,560 Speaker 6: involved with that? 426 00:19:56,040 --> 00:19:58,399 Speaker 3: You know, it's really interesting. Stefa Caman met with me 427 00:19:59,200 --> 00:20:01,560 Speaker 3: and they you know, I said, this is going to 428 00:20:01,560 --> 00:20:04,439 Speaker 3: be obviously a major event. Or like John, you know, 429 00:20:04,520 --> 00:20:07,800 Speaker 3: it was last held in Qatar. Before that was held 430 00:20:07,800 --> 00:20:10,840 Speaker 3: in Russia, two places that are hard to get to. 431 00:20:11,720 --> 00:20:13,679 Speaker 3: Now it's going to be in the United States, a 432 00:20:13,720 --> 00:20:18,680 Speaker 3: country that you know, gathers peoples, gathers countries, celebrates the Olympics. 433 00:20:18,760 --> 00:20:21,560 Speaker 3: Makes it very easy. We're going to be in eleven 434 00:20:21,720 --> 00:20:25,840 Speaker 3: NFL stadiums in the United States. And they asked me 435 00:20:25,880 --> 00:20:29,000 Speaker 3: the question. They said, John, where do you think Lionel 436 00:20:29,040 --> 00:20:33,800 Speaker 3: Messi and Argentina stayed during the last World Cup? And 437 00:20:33,880 --> 00:20:36,040 Speaker 3: I said, well, you know, if there's a four seasons, 438 00:20:36,080 --> 00:20:38,680 Speaker 3: there's probably a five seasons over there, or maybe six 439 00:20:38,760 --> 00:20:41,640 Speaker 3: seasons and they and Lionel Messi probably had his own 440 00:20:41,760 --> 00:20:45,200 Speaker 3: floor and it was just, you know, an amazing place 441 00:20:45,240 --> 00:20:47,600 Speaker 3: for them to stay. And he actually said, John, I 442 00:20:47,600 --> 00:20:50,359 Speaker 3: got to tell you they stayed at a college and 443 00:20:50,400 --> 00:20:54,119 Speaker 3: they actually roomed two players per room, and they ate, 444 00:20:54,240 --> 00:20:57,240 Speaker 3: drank and slept soccer because they were there to win. 445 00:20:57,920 --> 00:20:59,560 Speaker 3: And the reason that I share that with you is 446 00:20:59,560 --> 00:21:02,520 Speaker 3: that you Sha is that state. We have an amazing airport. 447 00:21:02,960 --> 00:21:07,160 Speaker 3: Our training facilities are very close to the airport. FIFA 448 00:21:07,240 --> 00:21:09,199 Speaker 3: is looking at us for a number of teams to 449 00:21:09,280 --> 00:21:12,640 Speaker 3: come to Salt Lake City to be housed and then 450 00:21:12,680 --> 00:21:15,040 Speaker 3: to get on the airplane and travel to those different 451 00:21:15,080 --> 00:21:18,600 Speaker 3: cities to play their games. And we're a quiet down 452 00:21:18,680 --> 00:21:21,080 Speaker 3: and they're looking for quiet spaces because they want to 453 00:21:21,080 --> 00:21:23,040 Speaker 3: be focused on winning the games. 454 00:21:23,240 --> 00:21:25,879 Speaker 9: So I think we got a really good shot at. 455 00:21:25,720 --> 00:21:29,359 Speaker 3: Hosting some amazing teams. And it just again kind of 456 00:21:29,400 --> 00:21:32,200 Speaker 3: speaks to the accommodations and the things that we build 457 00:21:32,240 --> 00:21:35,720 Speaker 3: here in Utah for global sports to come and participate 458 00:21:35,960 --> 00:21:36,840 Speaker 3: in our great state. 459 00:21:37,640 --> 00:21:39,359 Speaker 5: John, I'd like to hear a little bit more about 460 00:21:39,440 --> 00:21:42,560 Speaker 5: what kind of projections therefore you are making for real 461 00:21:42,640 --> 00:21:46,040 Speaker 5: Salt Lake as well as for the state as a whole. 462 00:21:46,440 --> 00:21:49,119 Speaker 5: Given the excitement of the paras Olympics and the excitement 463 00:21:49,160 --> 00:21:53,240 Speaker 5: of the World Cup, how do you see that broadening 464 00:21:53,240 --> 00:21:58,000 Speaker 5: your audience, broadening your opportunity locally five years down the road. 465 00:21:58,880 --> 00:22:01,040 Speaker 3: You know, it is literally the next tipping point for 466 00:22:01,119 --> 00:22:04,000 Speaker 3: the sport and for our league, the first being you know, 467 00:22:04,080 --> 00:22:05,760 Speaker 3: the World Cup in LA when the. 468 00:22:05,800 --> 00:22:09,080 Speaker 9: League got started. This truly with the with. 469 00:22:09,200 --> 00:22:11,760 Speaker 3: The games that are coming up with the Olympics and 470 00:22:11,800 --> 00:22:14,199 Speaker 3: other matches that are going to be coming up in 471 00:22:14,240 --> 00:22:16,960 Speaker 3: the next two to three years are are going to 472 00:22:17,000 --> 00:22:20,199 Speaker 3: be unprecedented for our sport and for our league. And 473 00:22:20,240 --> 00:22:22,600 Speaker 3: there's really you know, I proudly can say there's really 474 00:22:22,680 --> 00:22:25,440 Speaker 3: not that kind of trajectory in any other league that's 475 00:22:25,480 --> 00:22:28,440 Speaker 3: happening in the United States where we're building up towards 476 00:22:29,240 --> 00:22:31,639 Speaker 3: the largest sporting event in the history of the world, 477 00:22:31,880 --> 00:22:34,800 Speaker 3: soccer being the biggest sport to be played around the world. 478 00:22:35,320 --> 00:22:38,240 Speaker 3: And so with that, you know, our trajectory are we're 479 00:22:38,320 --> 00:22:41,480 Speaker 3: very bolish about where we're headed, about where our team's headed, 480 00:22:41,480 --> 00:22:44,679 Speaker 3: about where our league's headed, and we're focused on winning here. 481 00:22:44,560 --> 00:22:45,080 Speaker 9: In Salt Lake. 482 00:22:45,600 --> 00:22:47,960 Speaker 6: You know, Scarlett, have you ever seen that that pro 483 00:22:48,040 --> 00:22:50,159 Speaker 6: am they have right along Salt Lake? You know, when 484 00:22:50,240 --> 00:22:53,240 Speaker 6: guys are in their boats and like you know, athletes 485 00:22:53,320 --> 00:22:55,520 Speaker 6: doing footballs to them and they're playing catch and then. 486 00:22:55,400 --> 00:22:57,199 Speaker 1: They're you know, team That sounds amazing. 487 00:22:57,240 --> 00:22:59,520 Speaker 6: It's just awesome out there. But you know, I talk 488 00:22:59,520 --> 00:23:01,800 Speaker 6: to us about black doesnt resort. I think it's you know, 489 00:23:02,160 --> 00:23:04,760 Speaker 6: PGAs it's expected to tell the PGA event, I mean 490 00:23:05,200 --> 00:23:07,680 Speaker 6: is golf. I mean, what other sports are coming to 491 00:23:07,760 --> 00:23:08,640 Speaker 6: the state of Utah here. 492 00:23:08,840 --> 00:23:11,919 Speaker 3: That's what's so amazing is in the north of this state. 493 00:23:12,040 --> 00:23:14,720 Speaker 3: We host the Winter Olympics and we have these amazing 494 00:23:14,760 --> 00:23:18,119 Speaker 3: professional teams, and then you go down south and arguably 495 00:23:18,520 --> 00:23:20,800 Speaker 3: it's some of the best golf in the country. It's 496 00:23:20,840 --> 00:23:26,359 Speaker 3: not the world, and with you know, different groups looking 497 00:23:26,359 --> 00:23:30,600 Speaker 3: to bring professional tournaments down there, we're very bolish about 498 00:23:30,640 --> 00:23:33,040 Speaker 3: being able to host those things. I was just down 499 00:23:33,040 --> 00:23:35,439 Speaker 3: there a couple of weeks ago, and it is so 500 00:23:36,000 --> 00:23:39,919 Speaker 3: polar opposite from one. You know, from the north to 501 00:23:39,960 --> 00:23:41,920 Speaker 3: the south, and when you go down south, it could 502 00:23:41,960 --> 00:23:44,600 Speaker 3: be snowing up here in Salt Lake City and it 503 00:23:44,640 --> 00:23:47,239 Speaker 3: could be eighty degrees down in southern Utah and just 504 00:23:47,280 --> 00:23:50,440 Speaker 3: the desert and the red Rock. It's just absolutely beautiful 505 00:23:50,440 --> 00:23:53,639 Speaker 3: and going to be an amazing area to potentially hold 506 00:23:53,760 --> 00:23:54,720 Speaker 3: the PGA. 507 00:23:55,040 --> 00:23:57,840 Speaker 5: So talk a little bit about some of the best 508 00:23:57,880 --> 00:24:02,000 Speaker 5: practices that you've incorporated at Salt Lake, especially when it 509 00:24:02,040 --> 00:24:04,240 Speaker 5: comes to the fan experience, when it comes to the 510 00:24:04,359 --> 00:24:08,000 Speaker 5: venue that anyone who attends a Rail Salt Lake game 511 00:24:08,040 --> 00:24:10,600 Speaker 5: will be seeing and experiencing in the coming years. 512 00:24:10,720 --> 00:24:12,679 Speaker 3: You know, one of the things that I share with 513 00:24:12,760 --> 00:24:15,400 Speaker 3: people is if you think of your top ten memories 514 00:24:15,440 --> 00:24:18,679 Speaker 3: of your life, I'll guarantee that two to three of 515 00:24:18,720 --> 00:24:21,800 Speaker 3: them have something to do with sports or attending a 516 00:24:21,840 --> 00:24:24,720 Speaker 3: sports venue. And so that's the way that we look 517 00:24:24,760 --> 00:24:27,439 Speaker 3: at it is that we're creating memories for people, and 518 00:24:27,480 --> 00:24:30,480 Speaker 3: so when they come here, we want from the very 519 00:24:30,520 --> 00:24:33,399 Speaker 3: first touch when they walk into the building, through the 520 00:24:33,400 --> 00:24:37,040 Speaker 3: whole experience to the food, to the way they're interacted 521 00:24:37,119 --> 00:24:40,760 Speaker 3: with to be top notched, you know, white glove touch, 522 00:24:40,840 --> 00:24:43,400 Speaker 3: anything that we can do to just make it an 523 00:24:43,400 --> 00:24:47,560 Speaker 3: amazing experience. And each week we go through our NPS 524 00:24:47,560 --> 00:24:50,720 Speaker 3: scores and we go through every complaint line by line 525 00:24:50,760 --> 00:24:53,399 Speaker 3: with all of my top executives in the room, and 526 00:24:53,440 --> 00:24:56,920 Speaker 3: then I assign people to call those fans back directly. 527 00:24:57,600 --> 00:25:01,080 Speaker 3: And with that practice, we've had just a amazing response 528 00:25:01,119 --> 00:25:03,600 Speaker 3: where people are like, Wow, I've just never had a 529 00:25:03,680 --> 00:25:07,120 Speaker 3: survey taken and then had somebody ever reach back out 530 00:25:07,119 --> 00:25:09,960 Speaker 3: to me to ask me what I thought, or gave 531 00:25:10,000 --> 00:25:12,000 Speaker 3: me the answer or said they were working on it, 532 00:25:12,119 --> 00:25:13,880 Speaker 3: or just apologized. 533 00:25:13,200 --> 00:25:14,040 Speaker 9: For this situation. 534 00:25:14,680 --> 00:25:17,040 Speaker 3: So I really truly do believe it's how we treat 535 00:25:17,080 --> 00:25:20,040 Speaker 3: our customers, our fans, and then the product that we're 536 00:25:20,040 --> 00:25:22,760 Speaker 3: putting on the field. We are that hard working team 537 00:25:22,840 --> 00:25:25,320 Speaker 3: that nobody wants to play because we can beat any 538 00:25:25,359 --> 00:25:26,880 Speaker 3: team in the league any day. 539 00:25:27,000 --> 00:25:29,640 Speaker 5: All right, John, really appreciate your joining us today. Good 540 00:25:29,720 --> 00:25:31,040 Speaker 5: luck with the rest of the season. 541 00:25:31,880 --> 00:25:32,760 Speaker 3: Thank you so much. 542 00:25:32,800 --> 00:25:33,879 Speaker 8: I appreciate you guys. 543 00:25:34,240 --> 00:25:37,040 Speaker 5: Special thanks to Rayel salt Lake President John Kimball for 544 00:25:37,119 --> 00:25:37,640 Speaker 5: joining us. 545 00:25:37,920 --> 00:25:40,000 Speaker 6: Up Next, we head to the UK and we look 546 00:25:40,000 --> 00:25:43,159 Speaker 6: at the opening of a brand new arena in Manchester 547 00:25:43,640 --> 00:25:47,200 Speaker 6: with Ope You Group Chairman and CEO Tim Laiwiki. 548 00:25:47,600 --> 00:25:50,720 Speaker 5: You're listening to the Bloomberg Business of Sports from Bloomberg Radio. 549 00:25:50,880 --> 00:25:56,080 Speaker 1: Around the world, You're. 550 00:25:56,000 --> 00:25:59,879 Speaker 2: Listening to Bloomberg Business of Sports from Bloomberg Radio. 551 00:26:01,920 --> 00:26:04,119 Speaker 5: This is a Bloomberg Business of Sports show where we 552 00:26:04,160 --> 00:26:06,600 Speaker 5: explore the big money issues in the world of sports. 553 00:26:06,720 --> 00:26:10,080 Speaker 5: I'm Scarlett Foo along with Damien Sasaur. Michael Barr will 554 00:26:10,119 --> 00:26:11,119 Speaker 5: be back next week. 555 00:26:11,440 --> 00:26:14,560 Speaker 6: Oakview Group is responsible for running some of the most 556 00:26:14,600 --> 00:26:18,160 Speaker 6: impressive venues around the world through their Sports, Live, Entertainment 557 00:26:18,200 --> 00:26:21,040 Speaker 6: and Hospitality division OVG three sixty. 558 00:26:21,480 --> 00:26:23,919 Speaker 5: It's got more than four hundred venues around the world 559 00:26:24,040 --> 00:26:27,040 Speaker 5: and is committing more than five billion dollars to developing 560 00:26:27,080 --> 00:26:29,639 Speaker 5: new arenas and venues in just the next three years. 561 00:26:29,960 --> 00:26:32,800 Speaker 6: Right now, it's opening its latest arena, an awesome new 562 00:26:32,840 --> 00:26:35,520 Speaker 6: music stadium in Manchester, UK called co Op Live. 563 00:26:35,840 --> 00:26:38,199 Speaker 5: So here now to talk about how Oakview Group is 564 00:26:38,240 --> 00:26:41,760 Speaker 5: innovating in the space. We welcome the chairman and CEO 565 00:26:41,960 --> 00:26:45,440 Speaker 5: of Oakview Group, Tim Liwiki. Tim, Welcome to the Bloomberg 566 00:26:45,480 --> 00:26:46,240 Speaker 5: Business of Sports. 567 00:26:46,800 --> 00:26:48,679 Speaker 7: Thank you, glad to be here, Glad to catch up 568 00:26:48,720 --> 00:26:49,280 Speaker 7: with the two of you. 569 00:26:49,720 --> 00:26:53,120 Speaker 5: I know you're in Manchester getting ready for the opening 570 00:26:53,160 --> 00:26:56,360 Speaker 5: of co Op Live, which is an indoor arena that's 571 00:26:56,400 --> 00:26:58,960 Speaker 5: due to open this month. It's going to have the 572 00:26:59,040 --> 00:27:02,640 Speaker 5: largest maximum capacity of any indoor arena in the UK, 573 00:27:02,880 --> 00:27:06,080 Speaker 5: so greater than the existing Manchester Arena which is just 574 00:27:06,200 --> 00:27:07,480 Speaker 5: under two miles away. 575 00:27:07,960 --> 00:27:09,600 Speaker 1: Tell us a little bit about what it's. 576 00:27:09,480 --> 00:27:11,720 Speaker 5: Going to look like when it does open and what 577 00:27:11,840 --> 00:27:16,200 Speaker 5: kind of musical acts and other programming you have in mind. 578 00:27:16,640 --> 00:27:20,199 Speaker 7: So our bet as a company when we started roughly 579 00:27:20,560 --> 00:27:23,080 Speaker 7: I don't know eight years now it's been is we 580 00:27:23,480 --> 00:27:26,200 Speaker 7: looked at where there was a gap and a need 581 00:27:26,320 --> 00:27:29,280 Speaker 7: for new venues. So we've figured out Seattle and Climate 582 00:27:29,359 --> 00:27:31,280 Speaker 7: Pledge Arena, which is now home to the Kraken and 583 00:27:31,320 --> 00:27:34,600 Speaker 7: hopefully one day home to an NBA team. We're in Austin, 584 00:27:34,680 --> 00:27:37,160 Speaker 7: Texas on the campus at the University of Texas where 585 00:27:37,160 --> 00:27:39,600 Speaker 7: the men's and women's basketball team played at Moody Center. 586 00:27:40,480 --> 00:27:44,199 Speaker 7: We're partners with the Islanders on Ubs Arena out in 587 00:27:44,280 --> 00:27:47,320 Speaker 7: New York, and so we've done a pretty good job 588 00:27:47,400 --> 00:27:50,600 Speaker 7: of trying to figure out growth in the sports industry, 589 00:27:50,680 --> 00:27:53,520 Speaker 7: growth in the live entertainment industry in the US. But 590 00:27:53,640 --> 00:27:55,960 Speaker 7: now we're really focused on what we think is going 591 00:27:56,000 --> 00:27:59,919 Speaker 7: to be a absolute explosion of new stadiums and new 592 00:28:00,080 --> 00:28:04,840 Speaker 7: arenas internationally. We think you're going to see one hundred 593 00:28:04,880 --> 00:28:10,000 Speaker 7: and fifty to two hundred million of new buildings here 594 00:28:10,040 --> 00:28:12,600 Speaker 7: in the next six months announced in Europe and the 595 00:28:12,680 --> 00:28:16,840 Speaker 7: UK on the arena front, just with investments, and I 596 00:28:16,880 --> 00:28:21,359 Speaker 7: think from a overall international investment standpoint, you'll see one 597 00:28:21,400 --> 00:28:25,919 Speaker 7: hundred and fifty billion spent on stadiums and arenas worldwide 598 00:28:25,960 --> 00:28:29,120 Speaker 7: here in the next less than ten years. So key 599 00:28:29,160 --> 00:28:32,760 Speaker 7: to this is obviously UK Europe, and we wanted to 600 00:28:32,800 --> 00:28:36,400 Speaker 7: build a world class arena that we can then bring 601 00:28:36,480 --> 00:28:39,760 Speaker 7: everyone into, not just the people in Manchester, but people 602 00:28:39,760 --> 00:28:44,280 Speaker 7: from around the world, other municipalities, other partners, other developers, 603 00:28:44,280 --> 00:28:46,760 Speaker 7: so they could see the future of sports and entertainment. 604 00:28:47,120 --> 00:28:50,160 Speaker 7: That's what co op line is. It's the most futuristic, 605 00:28:50,560 --> 00:28:56,520 Speaker 7: technologally advanced, acoustically perfect arena ever built. And although its 606 00:28:56,680 --> 00:29:00,520 Speaker 7: principal will be one hundred plus nights of music, you're 607 00:29:00,520 --> 00:29:02,360 Speaker 7: going to see some of the biggest sporting events in 608 00:29:02,400 --> 00:29:05,160 Speaker 7: the world that are indoors now begin to have a 609 00:29:05,320 --> 00:29:08,640 Speaker 7: home in Europe in the UK where the economics of 610 00:29:08,680 --> 00:29:11,160 Speaker 7: the building and the way the building has been designed 611 00:29:11,600 --> 00:29:14,920 Speaker 7: can give them the ability to maximize revenue off of 612 00:29:14,920 --> 00:29:17,440 Speaker 7: a manifest That's the key is you want to go 613 00:29:17,520 --> 00:29:20,680 Speaker 7: to these big sporting events and allow them to ultimately 614 00:29:20,720 --> 00:29:23,120 Speaker 7: come in and do the kind of gates they do 615 00:29:23,200 --> 00:29:26,240 Speaker 7: in New York or Los Angeles, right, and so that 616 00:29:26,240 --> 00:29:29,000 Speaker 7: that's kind of the future, and this is the first 617 00:29:29,040 --> 00:29:33,200 Speaker 7: place that ultimately is going to tackle that. And we spent, 618 00:29:33,480 --> 00:29:35,640 Speaker 7: by the way, more money than anyone's ever spent on 619 00:29:35,720 --> 00:29:37,800 Speaker 7: an arena outside of the United States. 620 00:29:38,280 --> 00:29:40,920 Speaker 6: Well, I mean that is exactly where I want to go, Tim. 621 00:29:40,920 --> 00:29:42,200 Speaker 6: I mean, look, I'd love to talk to you about 622 00:29:42,200 --> 00:29:44,240 Speaker 6: the Decibel Club, the Bentley Record Room. I mean it 623 00:29:44,320 --> 00:29:47,360 Speaker 6: looks awesome. I can't wait to actually visit. But you know, 624 00:29:47,720 --> 00:29:50,120 Speaker 6: forget about co op Live for a missing You told 625 00:29:50,160 --> 00:29:52,400 Speaker 6: me that there are what is it, one hundred and 626 00:29:52,400 --> 00:29:55,640 Speaker 6: fifty two hundred and fifty million, I mean five billion dollars. 627 00:29:55,640 --> 00:29:59,320 Speaker 6: You've committed to developing new arenas over the next three years. 628 00:29:59,360 --> 00:30:01,440 Speaker 6: Where is this money coming from? And more importantly, in 629 00:30:01,480 --> 00:30:05,680 Speaker 6: this economy, you know who's getting behind these investments? I mean, 630 00:30:05,840 --> 00:30:08,320 Speaker 6: is it is it public? Is it public private? I mean, 631 00:30:08,600 --> 00:30:10,640 Speaker 6: talk to us a little bit about the financing and 632 00:30:10,640 --> 00:30:11,600 Speaker 6: how that all comes together. 633 00:30:11,720 --> 00:30:14,520 Speaker 7: Yeah, well, this is a pretty good prototype. So we're 634 00:30:14,560 --> 00:30:18,760 Speaker 7: spending roughly three hundred and seventy five million pounds. My 635 00:30:18,880 --> 00:30:22,320 Speaker 7: developer probably is spending more than that, So I feel 636 00:30:22,320 --> 00:30:26,560 Speaker 7: bad for them. Brexit and COVID and recession kind of 637 00:30:26,640 --> 00:30:28,880 Speaker 7: hit them, and we had a guaranteed contract. So my 638 00:30:29,200 --> 00:30:32,000 Speaker 7: guess is they're they're not. They're not at our budget. 639 00:30:32,040 --> 00:30:34,240 Speaker 7: They're at a much higher budget, right, which is great. 640 00:30:34,280 --> 00:30:36,280 Speaker 7: We get more of our money, but we were locked 641 00:30:36,600 --> 00:30:39,320 Speaker 7: at three seventy five. We have a fifty to fifty 642 00:30:39,360 --> 00:30:43,520 Speaker 7: joint venture partnership with City Football Group, which Man City 643 00:30:43,600 --> 00:30:46,480 Speaker 7: is probably the biggest team in the world right now. 644 00:30:47,520 --> 00:30:50,640 Speaker 7: We're in a joint venture that includes Harry Styles as 645 00:30:50,720 --> 00:30:53,920 Speaker 7: one of our investors, so we privatized all of this. 646 00:30:54,080 --> 00:30:57,080 Speaker 7: We put in about one hundred million pounds of capital 647 00:30:57,120 --> 00:30:59,840 Speaker 7: between the three partners. Then we went out and locked 648 00:30:59,880 --> 00:31:02,880 Speaker 7: in long term financing twenty five years. Thank god we 649 00:31:02,960 --> 00:31:04,840 Speaker 7: locked it in a few years ago. So it's a 650 00:31:04,960 --> 00:31:09,239 Speaker 7: very healthy what we'd be borrowing money for today. And 651 00:31:09,320 --> 00:31:11,960 Speaker 7: we did it privately because we just get things done 652 00:31:12,040 --> 00:31:14,800 Speaker 7: quicker that way, and the cities have better things to 653 00:31:14,840 --> 00:31:17,239 Speaker 7: spend their money on. We get a pretty healthy rate 654 00:31:17,280 --> 00:31:20,800 Speaker 7: of return. We've sold about forty pounds of contractually abligated 655 00:31:20,800 --> 00:31:24,360 Speaker 7: income on an annual basis with suitees, premium and sponsorship, 656 00:31:24,640 --> 00:31:27,000 Speaker 7: so we're going to do quite well here. We are 657 00:31:27,160 --> 00:31:31,240 Speaker 7: getting about a fifty percent increase for artists on what 658 00:31:31,400 --> 00:31:34,240 Speaker 7: they make when they normally come to the other arena 659 00:31:34,280 --> 00:31:38,600 Speaker 7: in Manchester, so significant increase. We reduced the cost for 660 00:31:38,720 --> 00:31:41,800 Speaker 7: them of load in load out. We have ten loading 661 00:31:41,880 --> 00:31:45,200 Speaker 7: docs directly attached to the stage. You could do ten 662 00:31:45,240 --> 00:31:48,520 Speaker 7: trucks at one time, so their ability to bring their 663 00:31:48,520 --> 00:31:52,200 Speaker 7: cost to production load in load out down. Take the 664 00:31:52,280 --> 00:31:55,240 Speaker 7: manifest and get a fifty percent increase in the gate 665 00:31:55,320 --> 00:31:58,320 Speaker 7: that they normally would make. Care It's changed the game 666 00:31:58,400 --> 00:32:00,960 Speaker 7: forever and for US US one hundred and thirty to 667 00:32:01,040 --> 00:32:02,520 Speaker 7: one hundred and fifty nights a year. 668 00:32:02,640 --> 00:32:04,600 Speaker 6: Right, it makes it easier to move between Clapton, The 669 00:32:04,640 --> 00:32:07,280 Speaker 6: Killers and Olivia Rodrigo all in May. I mean, Scarlett, 670 00:32:07,320 --> 00:32:08,840 Speaker 6: look at what we're talking about here, So talk to 671 00:32:08,920 --> 00:32:11,360 Speaker 6: us a little bit about you know, what comes next 672 00:32:11,400 --> 00:32:13,400 Speaker 6: and what do you see demand looking like for new 673 00:32:13,440 --> 00:32:15,880 Speaker 6: stadium build I mean, are we talking you know, venues 674 00:32:15,920 --> 00:32:17,880 Speaker 6: that are in the I don't know fifty thousand. Are 675 00:32:17,880 --> 00:32:20,120 Speaker 6: we talking you know, huge one hundred thousand stadiums. I 676 00:32:20,160 --> 00:32:22,200 Speaker 6: mean you've got your you know, kind of ear to 677 00:32:22,240 --> 00:32:25,040 Speaker 6: the ground here. You know what's the demand and quite frankly, 678 00:32:25,480 --> 00:32:26,640 Speaker 6: what's the supply look like. 679 00:32:27,000 --> 00:32:29,160 Speaker 7: I think you're going to see forty new stadiums built 680 00:32:29,560 --> 00:32:33,720 Speaker 7: in the Middle East, Europe, in the UK mostly geared 681 00:32:33,760 --> 00:32:37,120 Speaker 7: towards football clubs. I think you're going to see forty 682 00:32:37,160 --> 00:32:40,680 Speaker 7: arenas built like co Op Live. And so if you 683 00:32:40,720 --> 00:32:44,120 Speaker 7: do the simple math and the average arena is five 684 00:32:44,200 --> 00:32:48,040 Speaker 7: hundred million euros, you're talking about a significant amount of 685 00:32:48,080 --> 00:32:51,080 Speaker 7: money that's going to be spent on arenas. But if 686 00:32:51,080 --> 00:32:53,360 Speaker 7: you look at stadiums and you look at riod and 687 00:32:53,400 --> 00:32:55,880 Speaker 7: you look at Abu Dhabi and you look at what's 688 00:32:55,920 --> 00:33:00,160 Speaker 7: happening in Champions League, Premier League, LA League, Siria, You're 689 00:33:00,200 --> 00:33:02,240 Speaker 7: going to see a huge increase. And so what we're 690 00:33:02,280 --> 00:33:04,400 Speaker 7: trying to do is reinvent the business and get ahead 691 00:33:04,400 --> 00:33:08,760 Speaker 7: of it on premium, on hospitality, on sponsorship, on naming rights, 692 00:33:08,840 --> 00:33:13,560 Speaker 7: on operations, on security, on sustainability. How does our company 693 00:33:13,720 --> 00:33:16,880 Speaker 7: take this model co op Live, get ahead of everybody 694 00:33:16,920 --> 00:33:20,160 Speaker 7: else in the industry to operate better, know how to 695 00:33:20,200 --> 00:33:24,760 Speaker 7: finance these things privately, know how to create the revenue streams, 696 00:33:24,800 --> 00:33:27,800 Speaker 7: the contractually abligated income to pay for these things privately. 697 00:33:28,280 --> 00:33:30,720 Speaker 7: That puts us at the forefront. There's a lot of 698 00:33:30,720 --> 00:33:33,840 Speaker 7: people that will sell you services, but the reality is 699 00:33:33,960 --> 00:33:37,280 Speaker 7: no one has built five billion worth of arenas and venues. 700 00:33:37,520 --> 00:33:39,920 Speaker 7: So for that one hundred and fifty billion of new 701 00:33:39,960 --> 00:33:42,760 Speaker 7: business coming, we are way ahead of everybody because I 702 00:33:42,840 --> 00:33:44,640 Speaker 7: could look all of those people in the eye and 703 00:33:44,640 --> 00:33:46,560 Speaker 7: say I am you and you are me. I have 704 00:33:46,680 --> 00:33:49,200 Speaker 7: spent money like you have spent money. I've spent more 705 00:33:49,280 --> 00:33:52,760 Speaker 7: money than anybody. I understand everything you need to do 706 00:33:52,920 --> 00:33:55,400 Speaker 7: in order to be successful, and I have the same 707 00:33:55,480 --> 00:33:58,920 Speaker 7: pressures and the tensions that you have. I see the 708 00:33:58,920 --> 00:34:01,440 Speaker 7: world the same way you see the world. Everybody else 709 00:34:01,520 --> 00:34:04,880 Speaker 7: is just for higher So let me help you figure 710 00:34:04,880 --> 00:34:07,200 Speaker 7: out how to go spend that one hundred and fifty 711 00:34:07,320 --> 00:34:10,040 Speaker 7: billion and what to do with that stadium or that 712 00:34:10,120 --> 00:34:11,400 Speaker 7: arena once you've built it. 713 00:34:11,840 --> 00:34:15,680 Speaker 5: I'm curious from your perspective, Tim, when we talk about 714 00:34:15,719 --> 00:34:20,560 Speaker 5: privately funded arenas. We've seen in recent weeks how voters 715 00:34:20,600 --> 00:34:24,520 Speaker 5: in Kansas City have shot down the imposition of a 716 00:34:24,560 --> 00:34:27,640 Speaker 5: new tax to fund a stadium revamp. We've also seen 717 00:34:27,680 --> 00:34:31,240 Speaker 5: what happened in Arizona as well. Taxpayers are not buying 718 00:34:31,280 --> 00:34:35,919 Speaker 5: this idea that providing subsidies to arenas is good, makes 719 00:34:35,960 --> 00:34:39,680 Speaker 5: good economic sense for them. There's a pushback that we 720 00:34:39,760 --> 00:34:43,480 Speaker 5: haven't seen in a while after they largely approve these 721 00:34:43,480 --> 00:34:46,879 Speaker 5: things in the eighties and nineties and the oughts. When 722 00:34:46,880 --> 00:34:49,680 Speaker 5: we talk about how things are privately funded, that doesn't 723 00:34:49,680 --> 00:34:52,920 Speaker 5: really take into account like tax breaks that for instance, 724 00:34:53,160 --> 00:34:56,400 Speaker 5: the Giants pack Bell Park, which was claimed to be 725 00:34:56,480 --> 00:35:01,279 Speaker 5: the first privately financed ballpark, actually got later on from 726 00:35:01,280 --> 00:35:01,800 Speaker 5: the government. 727 00:35:02,239 --> 00:35:04,640 Speaker 7: Well, I think look, I think the future is models 728 00:35:04,800 --> 00:35:08,080 Speaker 7: like Climate Pledge Arena in Seattle, where the Crackton and 729 00:35:08,120 --> 00:35:11,120 Speaker 7: OVG built that privately. We spent over a billion dollars 730 00:35:11,520 --> 00:35:15,400 Speaker 7: the Islanders and OVGS spent a billion dollars on ubs Arena, 731 00:35:15,840 --> 00:35:18,920 Speaker 7: Moody Center. We spent almost four hundred million between US 732 00:35:18,920 --> 00:35:22,239 Speaker 7: and Live Nation, and then we donated it back to 733 00:35:22,400 --> 00:35:25,239 Speaker 7: the university, one of the largest gifts ever at the 734 00:35:25,360 --> 00:35:28,520 Speaker 7: University of Texas. That has to be the future model, 735 00:35:28,560 --> 00:35:30,239 Speaker 7: and people are going to have to figure it out 736 00:35:30,320 --> 00:35:34,080 Speaker 7: because what we're learning is municipalities and cities and states 737 00:35:34,080 --> 00:35:37,200 Speaker 7: and governments their money needs to be spent on education, 738 00:35:37,600 --> 00:35:41,600 Speaker 7: on transportation, on safety, and on health. That means we 739 00:35:41,680 --> 00:35:44,120 Speaker 7: have to figure out how to build entertainment facilities in 740 00:35:44,160 --> 00:35:47,400 Speaker 7: a different model. Now, I'm actually a big believer that 741 00:35:47,760 --> 00:35:51,080 Speaker 7: if you could get rebates on taxes that you generate 742 00:35:51,239 --> 00:35:54,200 Speaker 7: off of the new jobs the new facilities, that's an 743 00:35:54,280 --> 00:35:57,239 Speaker 7: interesting way to take the load off of the taxpayers 744 00:35:57,680 --> 00:36:00,200 Speaker 7: and simply take the pie of the new revenue being 745 00:36:00,280 --> 00:36:03,600 Speaker 7: created and give the private sector a portion of that 746 00:36:03,920 --> 00:36:07,200 Speaker 7: in order to avoid giving them direct tax subsidies. So 747 00:36:08,040 --> 00:36:10,040 Speaker 7: we're all going to add to think outside the box 748 00:36:10,040 --> 00:36:13,279 Speaker 7: because the day of people writing checks for a free 749 00:36:13,360 --> 00:36:15,879 Speaker 7: arena or stadium that's not going to happen. 750 00:36:15,920 --> 00:36:17,960 Speaker 6: Now, talk to us about the size of a stadium 751 00:36:18,000 --> 00:36:20,040 Speaker 6: and the cost to build your average stadium, just in 752 00:36:20,080 --> 00:36:21,720 Speaker 6: your mind. I just want to get a better feel 753 00:36:21,800 --> 00:36:23,799 Speaker 6: for what this future market looks like. 754 00:36:24,080 --> 00:36:26,360 Speaker 7: Yeah, well, by the way, arenas could cost two or 755 00:36:26,400 --> 00:36:30,480 Speaker 7: three billion. Go ask Dolan in the sphere, or go 756 00:36:30,560 --> 00:36:34,360 Speaker 7: ask my friend Steve Baum. When you're spending on into it, 757 00:36:34,440 --> 00:36:38,800 Speaker 7: don't so bigger. You know, two hundred billion or twenty 758 00:36:38,840 --> 00:36:40,880 Speaker 7: billion that we just talked about on arenas. And then 759 00:36:40,920 --> 00:36:44,719 Speaker 7: if you look at stadiums, those forty to fifty stadiums 760 00:36:44,760 --> 00:36:48,160 Speaker 7: are going to average probably somewhere between two to three 761 00:36:48,200 --> 00:36:52,319 Speaker 7: billion going forward, as inflation still is a real factor here. 762 00:36:52,800 --> 00:36:55,759 Speaker 7: So you're talking about another somewhere between eighty to one 763 00:36:55,840 --> 00:36:59,360 Speaker 7: hundred and twenty billion of stadiums. And those are fifty 764 00:36:59,440 --> 00:37:03,200 Speaker 7: thousand plus, sixty thousand plus. And you see right next 765 00:37:03,200 --> 00:37:05,800 Speaker 7: door to us at t Yacht Stadiums adding six thousand 766 00:37:06,040 --> 00:37:10,120 Speaker 7: new seats, they're adding a hotel, they're upgrading all their services. 767 00:37:10,160 --> 00:37:13,479 Speaker 7: Ac Milan's building a new stadium, Chelsea's looking to build 768 00:37:13,480 --> 00:37:16,560 Speaker 7: a new stadium, Birmingham's looking to build a new stadium. 769 00:37:16,760 --> 00:37:21,600 Speaker 7: So you have all of the clubs in La Liga, Siria, 770 00:37:21,719 --> 00:37:25,120 Speaker 7: Bundesligue and the Premier League, and they're all chasing each 771 00:37:25,120 --> 00:37:27,839 Speaker 7: other and they need these new economic streams. Then you 772 00:37:27,880 --> 00:37:31,400 Speaker 7: have Riad, who's talking about fourteen new stadiums just in 773 00:37:31,480 --> 00:37:36,799 Speaker 7: the Saudi Arabia fourteen and so these are big, expensive 774 00:37:37,080 --> 00:37:40,520 Speaker 7: SOULFI kind of dreams that they all have. They all 775 00:37:40,600 --> 00:37:42,799 Speaker 7: chase and they all want to be Tottenham and what 776 00:37:42,920 --> 00:37:47,000 Speaker 7: Daniel Levy built for the Spurs, that's the future of 777 00:37:47,239 --> 00:37:50,319 Speaker 7: football soccer going forward. And what you're going to see 778 00:37:50,320 --> 00:37:53,319 Speaker 7: on arenas is they're all going to want what we 779 00:37:53,560 --> 00:37:56,719 Speaker 7: built at co Op Live because it drives the economy 780 00:37:56,800 --> 00:37:59,640 Speaker 7: for all of these municipalities, especially if we could form 781 00:37:59,680 --> 00:38:04,000 Speaker 7: private public partnerships and not put the burden on the taxpayers. 782 00:38:04,280 --> 00:38:06,319 Speaker 1: Tim Liwiki, thank you so much for joining us. Really 783 00:38:06,360 --> 00:38:06,880 Speaker 1: appreciate it. 784 00:38:06,960 --> 00:38:09,680 Speaker 5: Tim Liwiki, chairman and CEO of Oakview Group and of 785 00:38:09,719 --> 00:38:13,880 Speaker 5: course a man of very high stature in the sports industry. 786 00:38:14,440 --> 00:38:17,120 Speaker 5: This is the Bloomberg Business of Sports show. We're here 787 00:38:17,120 --> 00:38:18,840 Speaker 5: each and every week at the same time for my 788 00:38:18,880 --> 00:38:20,080 Speaker 5: colleague Damien Sassaur. 789 00:38:20,239 --> 00:38:21,120 Speaker 1: I'm Scarlett Foo. 790 00:38:21,200 --> 00:38:23,520 Speaker 6: Thanks for joining us. Tune in again next week for 791 00:38:23,680 --> 00:38:25,799 Speaker 6: the latest on the stories moving big money in the 792 00:38:25,800 --> 00:38:29,280 Speaker 6: world of sports. You're listening to Bloomberg Business of Sports 793 00:38:29,280 --> 00:38:31,560 Speaker 6: from Bloomberg Radio around the world.