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Speaker 1: Hello, I'm Scott, I'm Evan, Nobie Williams, and I'm Michael

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Speaker 1: bar And this is the Bloomberg Business of Sports podcast

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Speaker 1: where we explore the big money issues in the world

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Speaker 1: of sports today. We begin with Uber and they are

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Speaker 1: paying people to get their service for tonight's Caps game. Hope. Well,

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Speaker 1: first of all, good luck to the Caps, good luck

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Speaker 1: to both teams. But this is really interesting because there

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Speaker 1: is a how can I say this, uh an eyebrow

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Speaker 1: raiser for who sponsored some of these Uber funds before

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Speaker 1: we even get there. Boo, you know what, you're a professional.

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Speaker 1: You hit with the emphasis in your tag earlier where

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Speaker 1: we explore the big money issues, and I would have

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Speaker 1: hit the big never thinking the emphasis on the we

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Speaker 1: would work. But that's a better way to go. It

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Speaker 1: sounds very good. We our team, Yeah, but I still

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Speaker 1: wouldn't think to hit the wei the way you hit

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Speaker 1: the wei, which is why we need you not so

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Speaker 1: much him. I always hit the money, but it sounded

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Speaker 1: very good. I don't want to let you know I

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Speaker 1: never would have thought of hitting the wei. But team, yes,

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Speaker 1: the Capitals are a team. I'm gonna get us back

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Speaker 1: on track. And that took us off with the capital.

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Speaker 1: Here's the problem. If you live in d C. The

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Speaker 1: metro shuts down early, and if you go to a game,

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Speaker 1: you can't get home on the metro. That's always been

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Speaker 1: the problem. Has Nationals games now the capitals too are

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Speaker 1: finding and you know a lot of these games go slow,

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Speaker 1: they go over time. What if you can't get home?

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Speaker 1: So they need people to step up and pay to

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Speaker 1: keep the metro open another hour. It's about a hundred

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Speaker 1: thousand dollars an hour, right, And that's what it was,

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Speaker 1: hundred thousand hour. And Uber is saying will do it

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Speaker 1: following Qatar. But they couldn't do it directly. They had

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Speaker 1: to make a deal indirectly to make it happy. Everything

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Speaker 1: about this story is bizarre. I will open by saying that,

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Speaker 1: as a New Yorker who complains about his own subway

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Speaker 1: system a lot, I apologize to the mt A because

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Speaker 1: what would you rather have it? Would you rather know

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Speaker 1: it's closed and then you have to make alternate plans

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Speaker 1: it would you rather scurry down because you think you're

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Speaker 1: gonna make it home and have no train service? I

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Speaker 1: would rather have the option of waiting for a discount.

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Speaker 1: But but yeah, this is a problem that DC has

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Speaker 1: had for a while. They had it for the national

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Speaker 1: playoff games. Why don't they just feat game day service,

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Speaker 1: especially postseason? And a part of this, we don't really

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Speaker 1: understand the economics of how the metro works. But if

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Speaker 1: it's a hundred thousand dollars for an extra hour, and

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Speaker 1: you're assuming there's many, possibly tens of thousands of people

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Speaker 1: that might use it, charge if you left it open,

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Speaker 1: add an extra dollar to there. If you on the

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Speaker 1: if you swipe a card, if you go through after

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Speaker 1: a certain time, it's an extra buck. If you have

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Speaker 1: twenty five thousand people that are choosing it, make it

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Speaker 1: a four dollar rideth do that math right there? Um,

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Speaker 1: But yeah, I mean this makes sense for Uber. It's

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Speaker 1: a nice little marketing thing. I'm sure they're they're currying

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Speaker 1: favor with with residents. And why is that important even

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Speaker 1: and we haven't discussed this, Well, there is a tax

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Speaker 1: initiative on the ballot and see that that maybe raising

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Speaker 1: the ride share prices, you know, so you could argue

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Speaker 1: that this might be a little pr political move as well. Uh,

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Speaker 1: Uber might get a lift in there, thank you very much,

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Speaker 1: And I not a line very much. We'll be here

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Speaker 1: almost Scott. One other thing I'll toss out there. Why

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Speaker 1: why wouldn't Leons's family, Why wouldn't Ted put up the

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Speaker 1: money for that? I mean, obviously it's the kind of

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Speaker 1: thing that makes fans thrilled. Um, there are people being

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Speaker 1: stranded because the team is is playing games because we

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Speaker 1: because we're playing. They're not saying it's not saying it's

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Speaker 1: his fault, but it is directly related. It just seems

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Speaker 1: like the kind of thing that that maybe an ownership

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Speaker 1: group would be interested in doing. So the ownership groups

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Speaker 1: would get together and say, we're in this together. You're

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Speaker 1: our fans, because if I'm a if I'm a Traps fan,

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Speaker 1: I'm a Nats fan, I'm a I'm a Redskins fan,

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Speaker 1: We're in this together. Let's all get together and solve

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Speaker 1: this problem. But I got a backtrack because I think

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Speaker 1: one of the things that strikes me about this story

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Speaker 1: is Qatar had had put a sponsor. I've never seen

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Speaker 1: anything like this. Yeah, well there you go. It's Quitar

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Speaker 1: stepping into saying, you know, we'll do it, and you know,

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Speaker 1: there's some controversy with Qatar hosting the World Cup, so

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Speaker 1: you may they're looking for some good pr as well.

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Speaker 1: It may have been done through their airline as well,

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Speaker 1: which is I mean, just a chance. It's a marketing move, friend,

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Speaker 1: It's a chance to get your name out there in

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Speaker 1: a in a way that's associated positively with tons of

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Speaker 1: sports fans in the DC area. By the way, we

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Speaker 1: know who the Caps or hopefully if they continue on,

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Speaker 1: like many people in Washington would like, who they're going

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Speaker 1: to play. They're going to play the Golden Knights, first

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Speaker 1: year expansion team, and they are in the show. Oh my,

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Speaker 1: those long suffering Nights fans. Now, now, I mean, I've

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Speaker 1: never seen anything like this. You had mentioned earlier about

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Speaker 1: the Blues, but I can't even but it wasn't this quick. Now,

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Speaker 1: this is this is a surprise, and obviously it's not.

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Speaker 1: Let's keep it in perspective. Let's go global. It's not

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Speaker 1: Lester winning the e p L. They were Let's put

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Speaker 1: it in Vegas terms. They were five thousand to one

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Speaker 1: and the Nights were five hundred to one. That's a

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Speaker 1: big difference you've got. But give them credit. They did

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Speaker 1: a great job, obviously of putting this roster together. Shame

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Speaker 1: on the general managers around the NHL. Who enabled this

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Speaker 1: much talent. I guess to walk or be somewhere else.

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Speaker 1: And Mark Andre Fleury is flourishing the flower and the

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Speaker 1: in net it's it's a good story. They made a

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Speaker 1: lot of people look stupid, and not just the opposing

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Speaker 1: general managers. As Scott mentioned, media folks. You know, if

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Speaker 1: you if you look back on season previews from a

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Speaker 1: year ago, people were wondering if this team was going

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Speaker 1: to set the record for least amount of games one.

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Speaker 1: I mean, it's not just that that that GM's screwed up.

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Speaker 1: A lot of people got this wrong. It does make

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Speaker 1: you wonder. They changed the franchise drafting rules differently from

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Speaker 1: from when the Predators came in to make it a

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Speaker 1: little easier to compete in your first year. Compete, not

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Speaker 1: when the Stanley Cup exactly. And I do wonder if

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Speaker 1: if we have a Seattle franchise or maybe another franchise

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Speaker 1: coming on board in the next couple of years, if

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Speaker 1: we may see a softening of what are they worth?

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Speaker 1: What do you think they paid? They paid five hundred

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Speaker 1: Bill Folly paid five hundred million for his team. But

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Speaker 1: he plays in this great building, partner with a g

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Speaker 1: They've got it seems. Remember, everybody's wondering about the fan base.

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Speaker 1: They show up. It's a great show, you know, we've

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Speaker 1: talked about that on on this show. I wonder what

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Speaker 1: the Knights would go for on the open market right now,

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Speaker 1: somebody gon pony up more. No, no, no, they're not

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Speaker 1: going for a billion, because that's the economics. Just on

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Speaker 1: justifi a billion dollars because no, no, wait a minute,

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Speaker 1: I think you could get a billion of a rational Sorry,

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Speaker 1: Michael bar Yes, don't you know it's a hockey stick.

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Speaker 1: There we go, that's what you want. You're going for

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Speaker 1: a hockey stick. I still, yes, it's hockey. But think

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Speaker 1: about it. You've got location, you're in Las Vegas, you

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Speaker 1: have a winning team, You're always going to have this

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Speaker 1: fan base now, but you still have to have the

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Speaker 1: revenue to guarantee them. I mean, the NHL's broadcast contract

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Speaker 1: is not the NFL's. I mean, they do have a

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Speaker 1: smaller broadcast contract, and you've got to be careful with

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Speaker 1: they have a good team. I mean, oftentimes that does

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Speaker 1: not directly correlate to the value of the franchise. And

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Speaker 1: if you have a team that's this good in their

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Speaker 1: first year, you certainly wonder what happens year four? People

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Speaker 1: wondering is this a good or a bad thing? We

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Speaker 1: have We asked that of the team executive that we've

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Speaker 1: talked to, is this good or bed? You're you're so good?

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Speaker 1: What happens next year? If you missed the playffs the

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Speaker 1: team to fans say oh the heck with this? Like

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Speaker 1: this is an exciting I mean we just came off

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Speaker 1: the Cup. You want them to be competitive? Yeah? Did

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Speaker 1: you want them to get to the Stanley If they

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Speaker 1: win in the Stanley Cup, there's nowhere to go but

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Speaker 1: doubt don yeh. If you've ever seen a bad hockey

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Speaker 1: team for a full season, do you really? I mean,

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Speaker 1: after this that would be tough. I've seen some bad

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Speaker 1: hockey teams, but I won't go there. Uh, let's go

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Speaker 1: to justify my goodness. When's the Preakness? And now we're

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Speaker 1: talking about the Triple Crown. Yeah, this is another Bob

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Speaker 1: Bafford horse, no surprise. He's the Hall of Fame trainer

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Speaker 1: who also trained American Pharaoh, the horse that won the

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Speaker 1: Triple Crown a couple of years ago. My thoughts on this,

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Speaker 1: it feels kind of like if the Cubs made the

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Speaker 1: World Series again this year. You know, the drought was broken.

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Speaker 1: The thing that everybody was waiting for to happen finally happened.

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Speaker 1: And now I'm not that interested in a triple crown anymore.

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Speaker 1: You know, now that I've seen it. I was there

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Speaker 1: when when American Pharaoh won. I saw horse racing fans

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Speaker 1: crying because they never thought they'd see it again in

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Speaker 1: their lifetime. I don't know. It doesn't it doesn't do it,

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Speaker 1: And I'm not gonna put that part. You're gonna like this.

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Speaker 1: I'm not gonna pretend to know a lot about horse racing,

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Speaker 1: because I do not. But I am going to read

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Speaker 1: something directly from a story that I that I did see.

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Speaker 1: I wish I would have printed out the whole thing

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Speaker 1: because I would have credited where it's from. But I

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Speaker 1: want you guys to, you know, tell the audience that

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Speaker 1: I'm being sure. I just printed out a paragraph. So

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Speaker 1: I'm not really sure what the source of this is,

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Speaker 1: but it was a reputable source. I can tell you

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Speaker 1: that ready for this justifies ownership group and stop me

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Speaker 1: if you guys know this. Windstar Farm, China Horse Club,

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Speaker 1: Head of Planes Partners and Starlight racing. I don't know

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Speaker 1: any of that. That's fine, but you're ready for Here's

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Speaker 1: the important part. That same ownership group also owns the

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Speaker 1: third place Derby finisher, Audible, which folks in racing say

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Speaker 1: could be Justifies biggest foe in the Belmont, and now

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Speaker 1: they may not race that horse, giving Justify a better

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Speaker 1: chance at winning. You know, there are two things that

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Speaker 1: are common with Justifies win in the Kentucky Derby and

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Speaker 1: the Preakness. It was like you talking about breaking the

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Speaker 1: drought both on muddy tracks. In my goodness at Pimlico, man,

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Speaker 1: it looked like they were racing on peanut butter out there, right.

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Speaker 1: But I mean, where is the sense of competition? I

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Speaker 1: do you race the other horse? Do you not? Because

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Speaker 1: the money? If this horse wins the Triple Crown, obviously

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Speaker 1: you make your money and stud fees. So from an

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Speaker 1: economic standpoint, are you incentivized to sit this other horse,

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Speaker 1: which may be the best competition. Yeah, absolutely, because making

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Speaker 1: it easier for this horse to win the Triple Crime.

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Speaker 1: I'm not racing that that third place horse. You're not

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Speaker 1: when there, when there's this much money on the line,

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Speaker 1: when the stud fees for the jockey to pull the

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Speaker 1: pull the reins a little bit, don't don't let it go.

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Speaker 1: I don't know. It just just seems like if you're

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Speaker 1: gonna do it's supposed to be something special. Well bar

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Speaker 1: get ready. In NASCAR, on the track, at any given moment,

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Speaker 1: there are teams and there are groups that are working together.

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Speaker 1: I'm not going to say that in NASCAR you wouldn't

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Speaker 1: race a car if you're hoping to get your other

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Speaker 1: driver onto the podium. But they work together. I mean,

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Speaker 1: if it's the same ownership group. Three words for you,

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Speaker 1: Evan Novie Williams, how's NASCAR doing? I say, even the

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Speaker 1: Triple Crown didn't do it. That's what you gotta put

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Speaker 1: your best out there and let's see what happened. I

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Speaker 1: don't think not racing that third horse is going to

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Speaker 1: have any material impact on the general Send all of

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Speaker 1: your email to E. Novie william at Bloomberg dot net.

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Speaker 1: He will pile forward to me because I'm not interested

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Speaker 1: in Hey here it is, say what al right? Moving

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Speaker 1: right along? I thought we were doing such a good

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Speaker 1: job the building an audience for the show. Keep singlehandedly

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Speaker 1: set us back? Can we cut that in post? If

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Speaker 1: you're still awake on the other side of the glass

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Speaker 1: that goes by the way, A salute to Medina. I

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Speaker 1: just want to extraordinary producer. Yes, we can all agree

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Speaker 1: on that on like your comment anyway, moving right along,

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Speaker 1: I thought it was clever anyway, Steph Curry and the

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Speaker 1: p g A. Yeah, he's getting us working on anyway

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Speaker 1: sponsoring a PGA Tour event that will benefit his charity.

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Speaker 1: I mean, we know the guy that loves golf, but

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Speaker 1: it's very good at it, and he's very good at it. Yeah,

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Speaker 1: does this what's the Is there a long term play

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Speaker 1: here that the Steph Curry invitation? What's the long term

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Speaker 1: play here? It's just something he wants to be associated

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Speaker 1: with golf even more. Yeah, And I think for him

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Speaker 1: maybe it's just a chance to to get deeper into

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Speaker 1: the sport from the professional ranks. For the sport and

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Speaker 1: for the p g A. I mean it's a no brainer.

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Speaker 1: It's a chance to reach a different kind of demographic,

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Speaker 1: maybe a younger demographic. It gives you a cool factor

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Speaker 1: that takes some hacks, right, Yeah, exactly, there's a lot

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Speaker 1: of potential there um And and look, I mean Steph's

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Speaker 1: not if he gets this. He's not gonna be the

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Speaker 1: first celebrity to host one. I mean, Bob Hope did

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Speaker 1: it for so long that there's a number of other

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Speaker 1: athletes that I didn't even think nobody willing Bob Hope,

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Speaker 1: Bob Hope Classic. Yeah, I know, what did you do?

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Speaker 1: You know Bob Hope? Okay, yeah, yeah, we know. I

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Speaker 1: just didn't think you would know the Bob Hope. Yeah,

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Speaker 1: me too. Dinah Shore, you know Dinah Shore vaguely? The LP.

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Speaker 1: What you mean big L? No, I don't know you No,

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Speaker 1: Dina Ship Okay, I want you can see the look

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Speaker 1: on Heaven's faces. Just shut up. Actually he thinks he's

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Speaker 1: a shut up old man. You go google Dina Shore

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Speaker 1: when when we're all done here. No, it's there's been

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Speaker 1: a lot like that. And and obviously, like you said,

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Speaker 1: a marriage Steph Curry and the p g A. You

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Speaker 1: can't pass that up. How big does it go? I

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Speaker 1: mean we're talking up to the level of the Byron

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Speaker 1: Nelson Classic, or we're talking to something like this. I

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Speaker 1: believe there's a if you look at the schedule, and

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Speaker 1: this is going to happen in if it does, if

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Speaker 1: you look at the fall schedule. There's one event near

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Speaker 1: the Bay area, the Safe Way Open, I believe, so,

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Speaker 1: I think the general consensus is that that's the one.

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Speaker 1: Is this something that would take over and I really

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Speaker 1: I do not know. It's just one of those where

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Speaker 1: Safely said we want out, we don't want to pay

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Speaker 1: for a title sponsorship anymore. That does happen, and then

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Speaker 1: then you need to fill out, you need to fill avoid.

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Speaker 1: I don't know either. But if if that is true

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Speaker 1: and you filled it with Stephis, that seems like a

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Speaker 1: great a great result, good good brand name to be

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Speaker 1: associated with. This is one of those things where even

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Speaker 1: the pro am could draw a lot, because what if

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Speaker 1: you get a whole bunch of I'd rather just be

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Speaker 1: a pro am. Yeah, yeah, I would like to see that. Yeah,

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Speaker 1: Bloomberg's own Peter Grower. I know he used to play

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Speaker 1: with Michelson in the in the pro am, So we'll

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Speaker 1: see if we get him out there. And why not,

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Speaker 1: Blown Williams you can go to you're just not getting stuff,

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Speaker 1: that's fine, you're just not getting up with Jeff Green. No,

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Speaker 1: let's le's take shots to Jeff Green, who was the

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Speaker 1: guy that said, uh, the Knicks A long time ago.

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Speaker 1: The ship be sinking, Michael Ray. Yeah, Michael, that's how

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Speaker 1: you're gonna get I believe that was the nets. The

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Speaker 1: ship be sinking, The ship be sinking. That the best

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Speaker 1: quote sports ever. Um, I agree with you. That was

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Speaker 1: the shut up, old man and close out the show,

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Speaker 1: which is what I'll do. This is the Bloomberg Business

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Speaker 1: of Sports podcast. I'm Michael Barr, along with Scott Sasnik

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Speaker 1: and Evan Nobi Williams. We are here each and every

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Speaker 1: Monday and Friday exploring the world of money in sports.

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Speaker 1: Join us again at the end of the week when

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Speaker 1: we speak with professional lacrosse player Paul Rabel. You're listening

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Speaker 1: to Bloomberg Business and Sports on Bloomberg Radio around the

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Speaker 1: world and online as an Apple podcast on iTunes.