1 00:00:00,720 --> 00:00:04,800 Speaker 1: This is Bloomberg Business of Sports where in a situation 2 00:00:04,880 --> 00:00:07,400 Speaker 1: that we haven't dealt with in modern times, the pandemic 3 00:00:07,440 --> 00:00:11,320 Speaker 1: here has really accelerated the investments that we've been havocating 4 00:00:11,360 --> 00:00:13,640 Speaker 1: for for a year. From a macro standpoint, I think 5 00:00:13,680 --> 00:00:16,880 Speaker 1: our sport industry is really forced to look at the 6 00:00:17,000 --> 00:00:20,079 Speaker 1: business a little bit differently in depth conversations with the 7 00:00:20,239 --> 00:00:22,639 Speaker 1: leaders in the sports industry, and he sport is a 8 00:00:22,640 --> 00:00:25,560 Speaker 1: good admiration. Were still moving forward part of something much 9 00:00:25,560 --> 00:00:27,720 Speaker 1: bigger than the sport. Right now, the health and sastry 10 00:00:27,720 --> 00:00:30,400 Speaker 1: of our stakeholders are really more important every moment. I 11 00:00:30,440 --> 00:00:32,839 Speaker 1: think we're all from a business respective thinking about the 12 00:00:32,880 --> 00:00:35,320 Speaker 1: impact that the virus was having across the country. In 13 00:00:35,400 --> 00:00:40,120 Speaker 1: Bloomberg Business of Sports from Bloomberg Radio, Hi everyone, I'm 14 00:00:40,200 --> 00:00:42,960 Speaker 1: Jason Kelly, and I'm Michaelnch and I'm Michael Barr And 15 00:00:43,000 --> 00:00:45,879 Speaker 1: this is the Bloomberg Business of Sports podcast where we 16 00:00:45,920 --> 00:00:48,120 Speaker 1: explore the big money issues in the world of sports. 17 00:00:48,159 --> 00:00:51,680 Speaker 1: Happy Monday everyone. We're getting into the postseason when it 18 00:00:51,720 --> 00:00:54,880 Speaker 1: comes to the NBA, and it's a different one, different 19 00:00:55,240 --> 00:00:58,480 Speaker 1: maybe in a good way, because versus last year where 20 00:00:58,600 --> 00:01:01,240 Speaker 1: everybody was bubbled up down in Orlando getting tested all 21 00:01:01,280 --> 00:01:04,480 Speaker 1: the time. This year. The new twist is the play 22 00:01:04,560 --> 00:01:08,240 Speaker 1: in games. And I have to say, from a fans perspective, 23 00:01:08,720 --> 00:01:12,600 Speaker 1: but also from a business perspective, Lynchy, this is more 24 00:01:13,040 --> 00:01:17,319 Speaker 1: high quality basketball. You know, you always wonder how much 25 00:01:17,880 --> 00:01:21,720 Speaker 1: things are, like even lightly scripted in some ways, or 26 00:01:21,760 --> 00:01:23,800 Speaker 1: if they just kind of cross their figures to hope 27 00:01:23,800 --> 00:01:26,520 Speaker 1: for the best. You kind of can't make it up 28 00:01:26,600 --> 00:01:28,880 Speaker 1: in the sense that you're gonna have Lebron versus staff 29 00:01:29,440 --> 00:01:33,280 Speaker 1: one game, everything's on the line to some extent. Uh, 30 00:01:33,319 --> 00:01:36,440 Speaker 1: and then the next day or two days later, I 31 00:01:36,440 --> 00:01:39,360 Speaker 1: should say, one of them is going to be fighting 32 00:01:39,440 --> 00:01:42,640 Speaker 1: for his and his team's life to get into the playoffs. 33 00:01:43,000 --> 00:01:49,160 Speaker 1: That's good early playoff or I should say play in basketball. Right. Absolutely. 34 00:01:49,240 --> 00:01:51,240 Speaker 1: At first I was a little skeptical. I thought it 35 00:01:51,280 --> 00:01:54,560 Speaker 1: was a gimmick, but the interest in the last two 36 00:01:54,600 --> 00:01:58,600 Speaker 1: weeks of the regular season has been enormous. And Baseball 37 00:01:58,600 --> 00:02:01,400 Speaker 1: did it. They have like a one game wild card. Uh. 38 00:02:01,520 --> 00:02:04,600 Speaker 1: The National Football League has added an extra playoff team, 39 00:02:04,880 --> 00:02:07,360 Speaker 1: so it's a different layer right now. I'd like it. 40 00:02:07,440 --> 00:02:09,919 Speaker 1: Lebron says whoever came up with it should be fired 41 00:02:10,760 --> 00:02:14,120 Speaker 1: because if the Lakers losing. Go on, that's what he 42 00:02:14,200 --> 00:02:17,120 Speaker 1: might be fearing. But there's a lot of pressure here. 43 00:02:17,160 --> 00:02:20,560 Speaker 1: And you know, single elimination. Now, I know that the 44 00:02:20,639 --> 00:02:22,680 Speaker 1: higher seed teams nine and ten have to win two 45 00:02:22,720 --> 00:02:25,280 Speaker 1: games in the lower seeds seven and they'd only have 46 00:02:25,320 --> 00:02:28,400 Speaker 1: to win one game. But there's nothing anything can happen 47 00:02:28,400 --> 00:02:30,480 Speaker 1: in single elimination as we see every year in the 48 00:02:30,520 --> 00:02:33,440 Speaker 1: n C Double A men's basketball tournament. Well, that's exactly right. 49 00:02:33,480 --> 00:02:37,480 Speaker 1: And Michael Bars, you're gonna see it feels like a high, 50 00:02:37,560 --> 00:02:42,200 Speaker 1: high level of fan interest this week and that is 51 00:02:42,840 --> 00:02:45,000 Speaker 1: good for basketball. You know, we talk all the time 52 00:02:45,040 --> 00:02:46,760 Speaker 1: on this show. We're talking about it as it relates 53 00:02:46,760 --> 00:02:50,240 Speaker 1: to the NFL last week. The season just gets you know, 54 00:02:50,480 --> 00:02:54,360 Speaker 1: the season, the offseason just get like pulled ever so 55 00:02:54,960 --> 00:02:59,000 Speaker 1: much more like played out and played out. More opportunities 56 00:02:59,080 --> 00:03:01,919 Speaker 1: for drama, more opportunities, let's be honest, more opportunities to 57 00:03:02,000 --> 00:03:04,600 Speaker 1: make money off of broadcast. Right, come on, who's not 58 00:03:04,639 --> 00:03:07,560 Speaker 1: going to watch this? This is gonna be good. And 59 00:03:07,960 --> 00:03:10,880 Speaker 1: you I know Lebron James is like you know that 60 00:03:10,960 --> 00:03:14,919 Speaker 1: you know that that one naysayer about well at least vocally, 61 00:03:15,360 --> 00:03:19,120 Speaker 1: but this is great. I'm gonna be watching this hinging 62 00:03:19,160 --> 00:03:22,600 Speaker 1: on everything and it's I mean, think about and Lynda, 63 00:03:22,639 --> 00:03:24,040 Speaker 1: you just said it the best. It's like, this is 64 00:03:24,080 --> 00:03:26,600 Speaker 1: like the n C Double A Tournament and it's one 65 00:03:26,639 --> 00:03:30,040 Speaker 1: game and if you blow it, you're out. I love it. Now, 66 00:03:30,120 --> 00:03:32,400 Speaker 1: the other side of this that they're going to have 67 00:03:32,480 --> 00:03:34,760 Speaker 1: to figure out a way to to work out and 68 00:03:34,800 --> 00:03:37,040 Speaker 1: I don't know exactly how they're gonna do it, because 69 00:03:37,320 --> 00:03:41,600 Speaker 1: is you had essentially tanking going on, you know, over 70 00:03:41,760 --> 00:03:45,160 Speaker 1: the course of the last weekend, you know, most notably, 71 00:03:45,760 --> 00:03:50,600 Speaker 1: you know, you you had a situation where the Clippers 72 00:03:50,720 --> 00:03:53,680 Speaker 1: essentially put in there, Sorry, I know these are professional 73 00:03:53,720 --> 00:03:56,720 Speaker 1: basketball players. They put in their scrubs so that they 74 00:03:56,800 --> 00:04:00,840 Speaker 1: could kind of lock in, uh, this first round matchup 75 00:04:00,880 --> 00:04:04,320 Speaker 1: with the Nuggets. So you know, there are things that 76 00:04:04,720 --> 00:04:07,080 Speaker 1: you're gonna see teams do in order to sort of 77 00:04:07,160 --> 00:04:10,600 Speaker 1: jockey for position. But you could argue that that that's 78 00:04:10,640 --> 00:04:13,800 Speaker 1: just part of the drama. Lynching. Yeah, without question. And 79 00:04:14,600 --> 00:04:16,800 Speaker 1: one of the reasons they that they put in the 80 00:04:16,880 --> 00:04:20,280 Speaker 1: draft lottery was so that teams were tanking to get 81 00:04:20,320 --> 00:04:23,640 Speaker 1: the number one picked. Now, now this this has nothing 82 00:04:23,640 --> 00:04:25,480 Speaker 1: to do with the draft, because the teams that get 83 00:04:25,480 --> 00:04:30,000 Speaker 1: eliminated from this planan go into the lottery automatically, but 84 00:04:31,160 --> 00:04:33,680 Speaker 1: you know, yeah, it was happening. Um, I'm sure the 85 00:04:33,680 --> 00:04:36,520 Speaker 1: commissioner is not too happy about it. But this, this 86 00:04:36,560 --> 00:04:39,560 Speaker 1: whole thing is is great. There's another game. There's another 87 00:04:39,600 --> 00:04:45,440 Speaker 1: game of ticket sales, business wise, ticket sales, merchandise, concessions, parking, television, 88 00:04:45,839 --> 00:04:48,080 Speaker 1: you name it. And it's a win win all the 89 00:04:48,080 --> 00:04:51,479 Speaker 1: way around. Yeah, I mean, actually catching up today, we're 90 00:04:51,480 --> 00:04:54,200 Speaker 1: talking on Monday. I'm catching up today with Cynthia Marshall. 91 00:04:54,279 --> 00:04:57,360 Speaker 1: She's the president of the Dallas Mavericks. Her team is 92 00:04:57,400 --> 00:05:01,840 Speaker 1: in the playoffs. They they're in the playoffs straight up, 93 00:05:01,920 --> 00:05:05,080 Speaker 1: so they will they'll have a game coming up once 94 00:05:05,240 --> 00:05:07,400 Speaker 1: the playoffs really start after the play in tournaments. Are 95 00:05:07,520 --> 00:05:10,720 Speaker 1: interested to get her take on how this works from 96 00:05:10,720 --> 00:05:13,120 Speaker 1: a business perspective, So we'll play part of that conversation 97 00:05:13,600 --> 00:05:15,680 Speaker 1: as the week goes on. That's part of our special 98 00:05:16,200 --> 00:05:19,680 Speaker 1: the Business Week conference that we're putting on here. So meanwhile, 99 00:05:20,560 --> 00:05:24,000 Speaker 1: on the other side of professional basketball, the w n 100 00:05:24,040 --> 00:05:26,719 Speaker 1: b A, they grew up so fast turns twenty five 101 00:05:27,560 --> 00:05:32,040 Speaker 1: U turn this weekend and a lot of attention paid 102 00:05:32,080 --> 00:05:34,440 Speaker 1: to that. And you know, I have to say, guys, 103 00:05:34,839 --> 00:05:38,640 Speaker 1: it was interesting to to read and hear some about that, 104 00:05:38,800 --> 00:05:41,800 Speaker 1: in part because there is more attention being paid. We 105 00:05:41,839 --> 00:05:44,800 Speaker 1: caught up with one of the new owners of in 106 00:05:44,839 --> 00:05:47,919 Speaker 1: the w n b A last week. That is Suzanne 107 00:05:47,960 --> 00:05:51,359 Speaker 1: a Bear of the Atlanta Dream. A lot of enthusiasm, 108 00:05:51,400 --> 00:05:55,960 Speaker 1: but still not great economics, you know, Lynchy. One of 109 00:05:56,040 --> 00:05:58,760 Speaker 1: the things that I read said, if you look at 110 00:05:58,760 --> 00:06:01,720 Speaker 1: the NBA at five, it wasn't all that great either, 111 00:06:01,920 --> 00:06:05,120 Speaker 1: So you know, maybe we're hitting an inflection point, or 112 00:06:05,160 --> 00:06:09,560 Speaker 1: maybe that's too optimistic. Well, even when the NBA hit 113 00:06:09,600 --> 00:06:12,440 Speaker 1: twenty five, you had household names you could roll off 114 00:06:12,480 --> 00:06:15,719 Speaker 1: your tongue. You could say Jerry West, Elgin Baylor, Will Chamberlain, 115 00:06:15,800 --> 00:06:19,240 Speaker 1: Bill Russell, Bob Pettit, Bob Kuzy, on and on and on. 116 00:06:19,640 --> 00:06:21,599 Speaker 1: I don't think the average fan can do that with 117 00:06:21,680 --> 00:06:24,520 Speaker 1: the w n b A at five, who's your all 118 00:06:24,560 --> 00:06:28,960 Speaker 1: time uh? W n b A starting starting lineup? Now? 119 00:06:29,279 --> 00:06:32,160 Speaker 1: Hardcore fans that really follow women's basketball might be able 120 00:06:32,200 --> 00:06:34,280 Speaker 1: to come up with it. And you know, it's just 121 00:06:34,360 --> 00:06:36,360 Speaker 1: the sad reality. I've been trying to put my finger 122 00:06:36,400 --> 00:06:39,159 Speaker 1: on it. It's because people like to see three point 123 00:06:39,200 --> 00:06:41,480 Speaker 1: shots by Steph Curry from half court and guys that 124 00:06:41,560 --> 00:06:45,400 Speaker 1: can they can dunk an alley oop. Is that an 125 00:06:45,400 --> 00:06:48,920 Speaker 1: attraction that's missing, um from the w n B. A. 126 00:06:49,040 --> 00:06:52,960 Speaker 1: I don't know. Um, they're great basketball players. I love 127 00:06:53,800 --> 00:06:56,360 Speaker 1: the Women's n C Double A basketball tournament. If you're 128 00:06:56,360 --> 00:06:59,520 Speaker 1: a basketball purist, that's at its purest form right there. 129 00:07:00,000 --> 00:07:04,000 Speaker 1: It's somehow the fans sort of just disconnect after the 130 00:07:04,040 --> 00:07:07,200 Speaker 1: March madness and that the next level with the w 131 00:07:07,320 --> 00:07:10,760 Speaker 1: n B. A. Yeah, And I do recommend uh going 132 00:07:10,800 --> 00:07:13,080 Speaker 1: back and listening if you if you didn't hear it 133 00:07:13,240 --> 00:07:15,200 Speaker 1: the full conversation that we had with Suzanne a Bear, 134 00:07:15,320 --> 00:07:19,800 Speaker 1: because you know you do. You are starting to see 135 00:07:21,000 --> 00:07:25,640 Speaker 1: different types of ownership come into the w n B. A. 136 00:07:26,680 --> 00:07:30,600 Speaker 1: My own view of it, in part is around the 137 00:07:30,800 --> 00:07:34,000 Speaker 1: kind of it feels like complicated, kind of half in, 138 00:07:34,040 --> 00:07:38,760 Speaker 1: half out relationship that the NBA has sometimes. Michael Barr, 139 00:07:38,840 --> 00:07:41,600 Speaker 1: you have similar ownership as is the case with the 140 00:07:41,640 --> 00:07:44,800 Speaker 1: Minnesota teams. Both the Templewls and the Links will be 141 00:07:44,920 --> 00:07:47,840 Speaker 1: owned assuming this deal does get to close by this 142 00:07:47,880 --> 00:07:50,760 Speaker 1: new ownership group of A Rod and Mark Laurie. So 143 00:07:51,000 --> 00:07:53,760 Speaker 1: will they invest a little bit more in Atlanta, which 144 00:07:53,760 --> 00:07:56,840 Speaker 1: we were just talking about you have two separate ownership groups. 145 00:07:56,920 --> 00:07:59,640 Speaker 1: That seems to be something that that needs to be 146 00:07:59,640 --> 00:08:02,640 Speaker 1: worked out. But I don't know what kind of gets 147 00:08:02,680 --> 00:08:04,880 Speaker 1: this to a point where where we're talking about in 148 00:08:04,880 --> 00:08:07,960 Speaker 1: the same way that candidly we're talking about women's soccer, 149 00:08:08,120 --> 00:08:11,840 Speaker 1: which is probably the most popular professional women's for I 150 00:08:11,840 --> 00:08:14,880 Speaker 1: think the biggest thing. And I remember this in the 151 00:08:14,920 --> 00:08:19,400 Speaker 1: early days of the w n b A. Lifetime decided 152 00:08:19,440 --> 00:08:21,880 Speaker 1: to try to air the w n b A games 153 00:08:22,040 --> 00:08:24,600 Speaker 1: and I was wondering, as it is that the right 154 00:08:24,640 --> 00:08:30,440 Speaker 1: platform for this, for this concept, and you know, I 155 00:08:30,480 --> 00:08:33,600 Speaker 1: think that's part of it. It's like, it's just got 156 00:08:33,679 --> 00:08:36,640 Speaker 1: they have to get a good media deal to air 157 00:08:36,720 --> 00:08:40,360 Speaker 1: some of these games. And and and of course, like 158 00:08:40,440 --> 00:08:42,520 Speaker 1: you said, we're die hard fans, so we're gonna be 159 00:08:42,600 --> 00:08:45,040 Speaker 1: following this. I mean, you know, I was following when 160 00:08:45,040 --> 00:08:48,600 Speaker 1: Sue Bird proposed. I'm like, oh, this is great, and 161 00:08:48,600 --> 00:08:52,000 Speaker 1: and you know, we're going to follow it. But the 162 00:08:52,040 --> 00:08:55,520 Speaker 1: casual fan, you're going to have the right platform to 163 00:08:55,600 --> 00:08:58,440 Speaker 1: air the games. Yeah, social media and social justice do 164 00:08:58,559 --> 00:09:00,400 Speaker 1: seem to be two elements where they U n b 165 00:09:00,520 --> 00:09:03,840 Speaker 1: A has been very forward thinking, So we'll see if 166 00:09:03,880 --> 00:09:07,360 Speaker 1: that continues as we go into this next season, the 167 00:09:07,360 --> 00:09:09,960 Speaker 1: twenty five year of the w n B. A happy 168 00:09:09,960 --> 00:09:12,520 Speaker 1: birthday to them, and uh, the season will go on 169 00:09:12,640 --> 00:09:15,120 Speaker 1: in sort of a slightly different way because there'll be 170 00:09:15,120 --> 00:09:18,520 Speaker 1: a break, assuming there are Summer Olympics. There will be 171 00:09:18,559 --> 00:09:21,960 Speaker 1: a break for the Summer Olympics later on this summer. Uh, 172 00:09:22,240 --> 00:09:25,119 Speaker 1: no break in the world of horse racing. The Preakness 173 00:09:25,280 --> 00:09:30,080 Speaker 1: it went off, and we're not going to have the 174 00:09:30,080 --> 00:09:32,080 Speaker 1: good news I think, Michael Barr is we're not going 175 00:09:32,120 --> 00:09:35,160 Speaker 1: to have a tainted triple Crown because there's not gonna 176 00:09:35,160 --> 00:09:39,679 Speaker 1: be anybody contending much to your wallets. Um, you know, 177 00:09:39,720 --> 00:09:44,199 Speaker 1: maybe consternation in terms of your own betting, but uh, 178 00:09:44,960 --> 00:09:46,960 Speaker 1: I don't know what did you make of the Preakness. 179 00:09:47,040 --> 00:09:49,520 Speaker 1: Oh well, of course I've been on Medina Spirit and 180 00:09:49,559 --> 00:09:51,959 Speaker 1: I'm looking at him in the lead, and somebody got 181 00:09:52,000 --> 00:09:54,240 Speaker 1: the word to the horse. He Michael Barr just been 182 00:09:54,320 --> 00:09:56,079 Speaker 1: on you and all of a sudden, it's like it's 183 00:09:56,080 --> 00:09:58,080 Speaker 1: wowing up. I'm like, what what is going on? And 184 00:09:58,120 --> 00:10:02,960 Speaker 1: all of a sudden, Rombauer just came out of nowhere 185 00:10:03,120 --> 00:10:07,480 Speaker 1: and and kudos to to Rombauer. I mean, uh, it 186 00:10:07,559 --> 00:10:10,760 Speaker 1: ran a great race, uh, and Menina Spirit wound up 187 00:10:10,800 --> 00:10:15,640 Speaker 1: going third. Uh. What I wonder though, is how many 188 00:10:15,679 --> 00:10:19,600 Speaker 1: people were watching the Preakness. I haven't seen the ratings 189 00:10:19,679 --> 00:10:23,600 Speaker 1: yet because of the tainted problem at the Kentucky Derby 190 00:10:23,760 --> 00:10:28,120 Speaker 1: with Medina Spirit. Yeah, does that it doesn't bode well 191 00:10:28,200 --> 00:10:30,600 Speaker 1: overall for the sport. But is there a sort of 192 00:10:30,600 --> 00:10:34,439 Speaker 1: a purient interest? Do you think, uh lynchy about horse 193 00:10:34,520 --> 00:10:36,160 Speaker 1: racing at this point? I mean, this is a this 194 00:10:36,240 --> 00:10:38,560 Speaker 1: is a mess for horse racing. I mean it's it's 195 00:10:38,559 --> 00:10:40,640 Speaker 1: been a mess for a while, but this is front 196 00:10:40,640 --> 00:10:43,160 Speaker 1: and center. The most celebrated trainer, Bob Bafford, of course, 197 00:10:43,200 --> 00:10:47,120 Speaker 1: being uh finding himself embroiled in in this big scandal 198 00:10:47,280 --> 00:10:51,240 Speaker 1: related to the Kentucky Derby and his Spirit Medina, his 199 00:10:51,280 --> 00:10:54,880 Speaker 1: horse Medina Spirit. Excuse me, uh, testing positively, still haven't 200 00:10:54,880 --> 00:10:57,720 Speaker 1: gotten that second test. The horses you just heard Michael 201 00:10:57,720 --> 00:11:01,320 Speaker 1: Barr say did race in the ignis but but didn't win. 202 00:11:02,160 --> 00:11:05,080 Speaker 1: Does it take a little bit of the staying off 203 00:11:05,120 --> 00:11:08,040 Speaker 1: of this? What do you think, NJ? Well, obviously the 204 00:11:08,080 --> 00:11:10,520 Speaker 1: people that put their money down don't really think someone 205 00:11:10,559 --> 00:11:14,200 Speaker 1: don't really care. The Preakness actually had a record handle 206 00:11:14,600 --> 00:11:17,760 Speaker 1: of sixty eight million dollars on that race. The Preakness 207 00:11:17,760 --> 00:11:20,319 Speaker 1: Stakes alone a hundred and thirteen million on the ten 208 00:11:20,440 --> 00:11:23,480 Speaker 1: race card. Now that's almost ten percent from the all 209 00:11:23,520 --> 00:11:26,320 Speaker 1: time record set in two thousand five. And because of 210 00:11:26,360 --> 00:11:29,960 Speaker 1: COVID they only allowed ten thousand fans in at at 211 00:11:30,080 --> 00:11:32,600 Speaker 1: at the race track that day. So you know, you 212 00:11:32,640 --> 00:11:35,480 Speaker 1: throw the mix in of Bafford, Medinas, spirit and a 213 00:11:35,559 --> 00:11:38,840 Speaker 1: possibility of a triple crown and there's a lot of interest. Yes, 214 00:11:38,880 --> 00:11:43,840 Speaker 1: the sport, the sport needs a commissioner basically, uh, to govern. 215 00:11:43,960 --> 00:11:46,280 Speaker 1: You know, there's just no every state. You know, they 216 00:11:46,280 --> 00:11:48,440 Speaker 1: go from state to state and there are different rules, 217 00:11:48,440 --> 00:11:51,000 Speaker 1: and there are different drug tests and just drugs. Some 218 00:11:51,080 --> 00:11:53,520 Speaker 1: drugs illegal in some states, are illegal in other states. 219 00:11:53,760 --> 00:11:57,760 Speaker 1: They need a commissioner's It works for the for the 220 00:11:57,920 --> 00:12:00,520 Speaker 1: p g A, it works for the four major four 221 00:12:00,600 --> 00:12:04,520 Speaker 1: or five major sports. Horse racing needs a commissioner well, 222 00:12:04,559 --> 00:12:07,560 Speaker 1: and and it does raise the record. Handle raises this 223 00:12:07,640 --> 00:12:10,240 Speaker 1: interesting question to me, at least Michael Barr, which is 224 00:12:11,720 --> 00:12:14,920 Speaker 1: it feels like the money would dictate, or the money 225 00:12:14,960 --> 00:12:19,600 Speaker 1: would tell us in this case that betters don't necessarily 226 00:12:19,720 --> 00:12:22,960 Speaker 1: care as much if the sport is dirty because they're 227 00:12:23,000 --> 00:12:27,240 Speaker 1: getting paid. Oh we yeah, we're we're gonna gamble. If 228 00:12:27,280 --> 00:12:30,280 Speaker 1: two marbles are rolled down the hall, We're going to 229 00:12:30,360 --> 00:12:32,959 Speaker 1: bet on that. And and I'm sorry to say that. 230 00:12:33,760 --> 00:12:38,440 Speaker 1: It's what I'm concerned about is the person who is 231 00:12:38,480 --> 00:12:42,320 Speaker 1: the casual racing fan. Like I said this before. Yeah, 232 00:12:42,360 --> 00:12:46,120 Speaker 1: and everybody knows the Triple Crowns. They know the Kentucky Derby, 233 00:12:46,120 --> 00:12:49,280 Speaker 1: they know the Preakness, they know the Bellmont. So what 234 00:12:49,440 --> 00:12:53,120 Speaker 1: I'm wondering is how many people watch this? Now? Keep 235 00:12:53,120 --> 00:12:56,520 Speaker 1: in mind Bafford was not even at that race. And 236 00:12:56,640 --> 00:12:59,040 Speaker 1: you know it's you put out a statement today it's 237 00:12:59,080 --> 00:13:02,280 Speaker 1: not about Bob bath Instead, it's about Medina's spirit. Well, 238 00:13:02,320 --> 00:13:04,440 Speaker 1: he didn't go to the race because of all this 239 00:13:04,520 --> 00:13:07,840 Speaker 1: controversy swirling. But I mean, heck, if if my horse 240 00:13:07,920 --> 00:13:11,800 Speaker 1: has won the Kentucky Derby, I'm just wondering, why would 241 00:13:11,800 --> 00:13:14,760 Speaker 1: I not show up for the Preakness, Because if I 242 00:13:14,800 --> 00:13:17,440 Speaker 1: got a chance for a Triple Crown, I would like 243 00:13:17,480 --> 00:13:20,400 Speaker 1: to be there. Now, Bob Bafford, he knows way more 244 00:13:20,400 --> 00:13:23,600 Speaker 1: about horse racing than I do. But you know, it's 245 00:13:24,880 --> 00:13:27,400 Speaker 1: that's something else that that struck me. When I was 246 00:13:27,559 --> 00:13:30,320 Speaker 1: checking out a little bit of the preakness. All right, Well, 247 00:13:30,480 --> 00:13:34,199 Speaker 1: I always bring up collectibles with a little a little 248 00:13:34,200 --> 00:13:36,559 Speaker 1: bit of hesitation because I don't like to trigger lynching 249 00:13:36,760 --> 00:13:39,959 Speaker 1: about his you know, his baseball cards that his dad 250 00:13:40,040 --> 00:13:47,480 Speaker 1: threw away, the best thing that ever happened. Yeah, exactly. 251 00:13:48,120 --> 00:13:51,920 Speaker 1: Uh and then and there I went um rally Collectibles. 252 00:13:51,960 --> 00:13:55,280 Speaker 1: This is a really interesting company. They just raised, according 253 00:13:55,320 --> 00:13:59,439 Speaker 1: to our friends over at Sportico, thirty million dollars. Excel Ventures, 254 00:13:59,640 --> 00:14:03,720 Speaker 1: very very well known venture capital fund, is leading that round. 255 00:14:03,800 --> 00:14:07,079 Speaker 1: This is a collectibles app. What I find so fascinating 256 00:14:07,120 --> 00:14:09,440 Speaker 1: about this guy's and I'm not a collectibles guy, but 257 00:14:09,520 --> 00:14:13,360 Speaker 1: I am fascinated by the business of it. So basically, 258 00:14:13,880 --> 00:14:18,439 Speaker 1: you can buy shares in collectible, so they'll essentially take 259 00:14:18,559 --> 00:14:21,280 Speaker 1: something and divide it up into share. So one of 260 00:14:21,280 --> 00:14:24,400 Speaker 1: the latest things that they did was a pair of 261 00:14:24,480 --> 00:14:27,440 Speaker 1: Game Warren sneakers that were a gift from Kobe Bryant 262 00:14:27,440 --> 00:14:30,880 Speaker 1: to Lebron James. We were talking about King James earlier. 263 00:14:31,080 --> 00:14:34,880 Speaker 1: Um an initial market cap, as it were, of a 264 00:14:35,000 --> 00:14:38,080 Speaker 1: hundred and eighty thousand dollars ten dollars a share. And 265 00:14:38,160 --> 00:14:41,040 Speaker 1: part of this is you can get fractional ownership in 266 00:14:41,120 --> 00:14:44,560 Speaker 1: a collectible, you presumably are buying it with the idea 267 00:14:44,720 --> 00:14:46,840 Speaker 1: that other people will be interested in it. You can 268 00:14:46,840 --> 00:14:50,600 Speaker 1: sell your shares eventually and make a profit. This is 269 00:14:51,040 --> 00:14:54,600 Speaker 1: technology and collectibles at work. A lot of interesting people 270 00:14:55,360 --> 00:14:59,800 Speaker 1: already invested in this, including the rapper and venture capitalists, 271 00:14:59,840 --> 00:15:04,720 Speaker 1: not as as well as Reddit co founder Alexis Ohanian. Uh, 272 00:15:04,960 --> 00:15:07,920 Speaker 1: you buying shares in some shoes here and lynching Well, 273 00:15:08,120 --> 00:15:11,280 Speaker 1: I'm kind of be my interest has peaked here. There's 274 00:15:11,320 --> 00:15:14,440 Speaker 1: some copies of the Declaration of Independence that you can 275 00:15:14,440 --> 00:15:20,960 Speaker 1: invest in. Uh, lunar meteorite, dinosaur fossils, who knows, and 276 00:15:21,040 --> 00:15:23,800 Speaker 1: you know, you go from sneakers to a lunar meteorite. 277 00:15:23,840 --> 00:15:26,960 Speaker 1: I'm I'm reading this article here and I'm very very 278 00:15:27,040 --> 00:15:29,680 Speaker 1: captivated by it. Yeah, it is, I mean, it is 279 00:15:29,720 --> 00:15:33,640 Speaker 1: a very interesting idea because the notion I mean, we're 280 00:15:33,640 --> 00:15:36,720 Speaker 1: getting into like heavy Bloomberg stuff here in a good way. 281 00:15:36,760 --> 00:15:40,840 Speaker 1: Like this is about an ill liquid market. You know 282 00:15:40,920 --> 00:15:43,440 Speaker 1: that this is this is a market that really has 283 00:15:43,520 --> 00:15:49,080 Speaker 1: been largely limited historically by you know, shops, the shops 284 00:15:49,200 --> 00:15:53,240 Speaker 1: or individual collectors who are to say the lead's not 285 00:15:53,280 --> 00:15:56,280 Speaker 1: working in a very transparent market. Uh, this is providing 286 00:15:56,320 --> 00:15:58,400 Speaker 1: some some liquidity here. So if you want to sell 287 00:15:58,480 --> 00:16:01,560 Speaker 1: something that is rare, or you know, if you don't 288 00:16:01,680 --> 00:16:06,000 Speaker 1: have the the economics, the personal economics to buy something 289 00:16:06,040 --> 00:16:08,360 Speaker 1: a huge value, you can buy a share and invest 290 00:16:08,400 --> 00:16:11,320 Speaker 1: in that. So I don't know, I like it, Michael Bark, 291 00:16:11,480 --> 00:16:13,960 Speaker 1: I do. I It's the one question I have is 292 00:16:14,040 --> 00:16:16,960 Speaker 1: let's say, for instance, I want to invest in UH 293 00:16:17,280 --> 00:16:20,800 Speaker 1: Roger merris baseball card is rookie baseball card? Where is 294 00:16:20,840 --> 00:16:24,680 Speaker 1: its stored? Because it's got to be placed somewhere? Is it? 295 00:16:24,720 --> 00:16:26,880 Speaker 1: Is it going to be in a safe deposit box? 296 00:16:27,560 --> 00:16:30,440 Speaker 1: Who has control of that? But I like the idea 297 00:16:30,440 --> 00:16:32,720 Speaker 1: of buying shares at least, you know, I could have 298 00:16:33,080 --> 00:16:36,440 Speaker 1: a little bit of Roger Merris or one day if 299 00:16:36,440 --> 00:16:38,600 Speaker 1: they were put holding his Wagner up on there, I'd 300 00:16:38,600 --> 00:16:41,040 Speaker 1: love to have a share of that too. So my 301 00:16:41,160 --> 00:16:44,680 Speaker 1: understanding is that the company rally does take custody, so 302 00:16:44,800 --> 00:16:48,200 Speaker 1: they you know, they own these assets. They basically purchased 303 00:16:48,200 --> 00:16:51,240 Speaker 1: them with the idea of then selling shares. Their biggest 304 00:16:51,280 --> 00:16:54,120 Speaker 1: return again the succording to suport of code UH in 305 00:16:54,160 --> 00:16:58,080 Speaker 1: an exit was UH and this happened in less than 306 00:16:58,120 --> 00:17:00,920 Speaker 1: two months. They more than publed their money a hundred 307 00:17:00,920 --> 00:17:03,880 Speaker 1: and six percent for a nineteen eight rookie trading card 308 00:17:04,320 --> 00:17:08,920 Speaker 1: of soccer legend Plee. So there you go. The money 309 00:17:09,000 --> 00:17:12,800 Speaker 1: is out there. This is the Bloomberg Business of Sports 310 00:17:12,840 --> 00:17:15,320 Speaker 1: podcast on Michael Barn. You can follow me on Twitter 311 00:17:15,520 --> 00:17:19,159 Speaker 1: at Big Barn Sports and somewhere my baseball cards are 312 00:17:19,200 --> 00:17:22,159 Speaker 1: in the landfill in Massachusetts. I'm Mike Lynch. You can 313 00:17:22,200 --> 00:17:25,199 Speaker 1: follow me at Lynch w CDB. It's always gonna be 314 00:17:25,240 --> 00:17:28,360 Speaker 1: too soon. I'm Jason Kelly. Follow me at Jason Kelly News. 315 00:17:28,359 --> 00:17:30,959 Speaker 1: We're here each and every Monday, Wednesday and Thursday exploring 316 00:17:30,960 --> 00:17:32,960 Speaker 1: the world of money and sports. Check us out later. 317 00:17:33,240 --> 00:17:36,719 Speaker 1: Big week coming up. We're gonna check in with the 318 00:17:36,760 --> 00:17:41,200 Speaker 1: CEO of the pg A talking about is the pg Sorry, Charlie, 319 00:17:41,240 --> 00:17:47,960 Speaker 1: who is it? Yeah, c he's the CEO CEO. Don't 320 00:17:48,000 --> 00:17:49,480 Speaker 1: promo it because I don't know what we're gonna do 321 00:17:49,480 --> 00:17:50,880 Speaker 1: for the weekend, because we're gonna have all the stuff 322 00:17:50,880 --> 00:17:53,400 Speaker 1: in that this week, Sumbody. I mean, we're still recording 323 00:17:53,400 --> 00:17:55,720 Speaker 1: and we're gonna just we're gonna have a ton of 324 00:17:55,760 --> 00:17:57,760 Speaker 1: just good stuff and we gotta figure out what the parks. 325 00:17:57,880 --> 00:18:01,040 Speaker 1: Just don't don't promote the show because I don't promote anything. Okay, yeah, 326 00:18:01,040 --> 00:18:03,040 Speaker 1: I want to see because look, we get three segments 327 00:18:03,080 --> 00:18:04,639 Speaker 1: great on a rand, then I'm gonna use three segments 328 00:18:04,680 --> 00:18:07,960 Speaker 1: on out. I have that for you. I can send that. 329 00:18:08,000 --> 00:18:09,639 Speaker 1: Ever I did that on Friday, I'll send it over. 330 00:18:11,359 --> 00:18:13,400 Speaker 1: And I'm Jason Kelly at Jason Kelly News. We're here 331 00:18:13,400 --> 00:18:16,080 Speaker 1: each and every Monday, Wednesday, and Thursday exploring the world 332 00:18:16,080 --> 00:18:19,119 Speaker 1: of Bunny in sports, Jason Kelly just did Lynchy Dirty. 333 00:18:19,240 --> 00:18:23,600 Speaker 1: You're listening to Business of Sports on Bloomberg Radio around 334 00:18:23,640 --> 00:18:25,600 Speaker 1: the world and online wherever you get your pockets.