July 9, 2026 • 31 mins
If you know nothing else about women’s hockey, you probably know Hilary Knight. The 5-time Olympic medalist has played the most games in U.S. Women’s Hockey history. She has also served as the captain of two PWHL teams and is one of the reasons the league exists in the first place. In 2019, Hilary was among several players who vowed to boycott any North American league that was not financially sustainable. In 2022, the players entered into a partnership with Mark Walter and Billie Jean King to launch the PWHL. Four years later, the league is selling out games at MSG and accepting a $100 million investment.
In this episode of The Deal, Hilary details for Jason and Alex the process of starting a league where players were partners from the jump and why Mark Walter and Billie Jean King were the right people to work with. She also explains how the momentum from this year’s Olympics bled into the PWHL season and why Heated Rivalry is one of the best things to ever happen to hockey. Finally, she shares her hopes for her post-playing career (spoiler alert! she wants to own a team) and the responsibility of being the face of her sport. Plus, Alex shares a business idea and tells Hilary why she reminds him of NBA Hall of Famer Grant Hill.
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Episode Transcript
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Speaker 1 (00:02):
Bloomberg Audio Studios, Podcasts, Radio News.
Speaker 2 (00:12):
Welcome back to the Deal.
Speaker 3 (00:13):
I'm Jason Kelly alongside Alex Rodriguez coming up on the
show Hillary Knight. So, this is arguably one of the
best hockey.
Speaker 2 (00:21):
Players on the planet. You know her from the Olympics.
Speaker 3 (00:24):
You know her from carrying the American flag in the
closing ceremony.
Speaker 2 (00:28):
She's the captain of that team.
Speaker 3 (00:30):
What I think is so interesting, Alex is unfortunately, up
until this point, we've only really been able to pay
attention to female hockey players when the Olympics were on. Well,
now there's a professional league. We know about it because
our friend Billy, Jim King and Alana they backed the
PWHL and it is going gangbusters. I was super impressed
(00:50):
with her, and she's got a lot of ambition for
herself and the league.
Speaker 4 (00:55):
What did you think, you know, Jason, I could not
help as I was speaking with her with you that
she reminded me of Grand Hill Hall of Fame, Grand
Hill from the NBA. The reason why is like she
has like this evergreen talent that everybody wants. She's gonna
have opportunities to do TV ownership, players like whatever. She's
almost gonna have an embarrassment of choices. But what I
(01:17):
also love about her is she is the epitome of
a modern day athlete where they love business. They're prepping
for life after their sport way before they retire, and
there's a trend that's moving in the right direction, and
they have the ambition and they have the knowledge, and
they want to do it, and I think she's perfectly
positioned for life after hockey.
Speaker 3 (01:37):
Yeah, it's interesting you make that comparison to Grant Hill.
I think you can also go even further back and
think about some of the NBA players in the nineteen
eighties who were hitting a league as it was really
catching fire. And that's what's happening with her with the PWHL.
Since we recorded this episode, the PWHL, which of course
(01:57):
is owned by Mark Walters his family of Dodgers and
Lakers fame, they have brought on additional investors into you,
as they say, the top co into the league. This
is our sense in anticipation of ultimately selling the franchises.
We know that that's their eventual goal. They really have
(02:20):
this business running on all cylinders, and hockey is having
a super interesting moment culturally, and I just I love
talking to her.
Speaker 2 (02:28):
I loved her ambition.
Speaker 3 (02:29):
I loved you guys sort of trading notes on what
happens next for an athlete in business.
Speaker 4 (02:34):
I'm really excited to see what's going to happen. And
from Mark Walter's point of view, you can have a
better finance, more capable human being to start a league.
Just look at what he's done with the Dodgers and
what he will do with the Lakers exactly.
Speaker 3 (02:46):
It's interesting she's been playing for Seattle, but now there
was a sign and trade deal as part of expansion.
She's going to be playing in Detroit, great hockey town,
and we really expect that she's going to raise her
profile even more. Coming up, Hillary Knight, welcome back to
(03:13):
the deal. I'm Jason Kelly alongside Alex Rodriguez and I
love these where it's like game respects game.
Speaker 2 (03:18):
Hillary Knight joins us.
Speaker 3 (03:20):
Truly one of the goats of the game of hockey.
What a treat we've watched you over the years of
watch you win a gold medal not that long ago.
Now probably feels like a long time for you, since
so much has happened in the intervening time.
Speaker 2 (03:35):
So welcome to the deal.
Speaker 5 (03:37):
Yeah, thanks for having me. It feels like yesterday, right,
the gold medal?
Speaker 2 (03:40):
Does it? Yeah? Yeah?
Speaker 5 (03:43):
Sometimes sometimes, And then when I'm doing something athletic, I'm like, wow,
it's been three weeks into the off season here, I
should kind of get back on the horse.
Speaker 2 (03:52):
Yeah.
Speaker 3 (03:52):
Absolutely, So, speaking of the off season, I mean, it's
such a fascinating time for professonal hockey, especially women's professional hockey.
It feels like that something really special and interesting is happening. Finally,
I dare say, with a professional women's hockey league, it's happening.
(04:14):
So give us a sense of what it feels like
on the inside and whether it does feel like, wow, okay,
we're doing this because you've been a part of this
for a long time. Yeah.
Speaker 5 (04:23):
Well, I think first of all, we just finished year three, right,
so we're very much so in the infancy and comparative
to other professional leagues out there. And I know our
salaries were recently published and people were like, oh my gosh,
they're so low, and yeah they are low, but they
also are like a starting point for us to continue
to build and grow and deepen our CBA.
Speaker 1 (04:44):
When that becomes available to renegotiate.
Speaker 5 (04:46):
But yeah, I think for so long we craved investment
and we needed a structure of investment in a vehicle
to get us to that sustainability level. And we found
that in the Mark and kimber Walter group. And it's
been phenomenal to see where professional hockey has grown in
such a short amount of time.
Speaker 3 (05:05):
All Right, so let's jump right in there, because I
know Alex and I both have a lot of questions
about that deal. That is the deal that sort of
sets this all in motion. We were fortunate to have
Billy Jean and Alana on our show it's now a
couple of years ago, and they were talking about sort
of the development of that and keep me honest on
the history here, you and some other star players had
(05:26):
essentially said, we're not playing until we have real confidence
that there is a sustainable financial investment into this league.
How did Mark and his family and Billy Jean and
Alana ultimately how did they convince you that they were
for real? Yeah?
Speaker 1 (05:46):
Well, honestly, and that's true.
Speaker 5 (05:48):
We sort of embarked on something called the Dream Gap Tour,
which we sort of curate an experience for the players
to give them resources some sort of training stipend to
continue that programming, so wouldn't be left without or absent
from playing games, because you know, we have to continue
that development piece. So we embarked on the dream Gap
tour for a handful of years COVID hit we were
(06:09):
able to float ourselves, and honestly, Billy Jean King and
a lot of class brokering that deal and getting us
in the right rooms to find the right vehicle, and
the whole foundation of the conversation was we want to
provide a professional experience to the players, and that's something
that we lacked for forever, right. I think if we're
looking back and reflecting, we really had a lot of
(06:31):
semi pro leagues and a lot of you know, just
one off sort of endorsements. We're trying to capitalize on
a moment versus strategic investing, and so when we had
those conversations, you know, I think at first we were
a little apprehensive because the hockey world is very insular
and different, right, There's a lot of nuances to the sport,
(06:51):
and to have an investor that doesn't necessarily know that
world right off the hop.
Speaker 1 (06:55):
We're like, oh my gosh, you know how is this
going to work out?
Speaker 5 (06:58):
But to have advisors, guidance from Billy Jean King and
she's been through it many different times before. And then
also the promise that we're going to provide a professional
league and we're going to give it enough gas and
enough legs to be able to carry itself for many,
many years was extremely exciting for us.
Speaker 4 (07:14):
Yeah, Billy Jean and Alana are just incredible. They're forces
of nature and they work so well together. Going to
Mark Walter, who's a partner, he's a governor in the NBA.
When you see what Mark Walter's built in Goggenheim in
like twenty five years, it's incredible. Then he goes to
the Dodgers and takes him from basically bankruptcy to the
greatest franchise in the sport. And now he's bought the
(07:35):
Lakers for ten billion dollars. Everything he touches turns into gold.
But when Alana and Billy Jean put you in the
room with Mark, what was it about Mark that impressed
you that you said, this is the right person for
us or the right group for us to follow.
Speaker 5 (07:48):
Yeah, I think just the authenticity of the promise right
and knowing someone who's done it before and having that
experience with the MLS like previously when it's a very
very much so a startup league, right, and being able
to move I guess in a non traditional way while
also having in lays that were traditional from his sports
experience and other backgrounds was really exciting. So it was
(08:12):
sort of this like one two punch approach that we
could really be dynamic in the spaces that we wanted
to move in the doors that need to be open,
and obviously a massive strategic investment to be able to
give this self these these things wings. And Yeah, it's
crazy to see the growth in such a short amount
of time. And I think just like as a player,
when you're in it and you're so close to it.
(08:33):
We're expanding this year another few teams, right, it's like
what are we doing?
Speaker 1 (08:37):
But we're already going to be at twelve, Like that's insane.
Speaker 5 (08:40):
So it just goes to show the promise and the
commitment that this group has and where they want to
take the sport, which is incredible.
Speaker 3 (08:46):
And so when you go into that room, Hillary, what
are you asking for specifically? Like you've seen what doesn't work,
and so what are the key components to the business
from a player's perspective.
Speaker 5 (09:00):
Yeah, and the simple answer is everything. Right, we did
not have really any structure to be able to support
ourselves outside of what we're doing with our existing partnerships,
and it wasn't enough money to give us the length
and the depth that we needed and so for many
years and we still don't necessarily have spaces that are
created for us quite yet. So that's what's exciting with expansion.
It's like, you know, how close are we to breaking
(09:23):
ground on our own practice facility or where are we
plugging in to you know, some of these major arenas
and venues. So that's super exciting. But yeah, I mean,
I think health insurance was a huge starting point for us,
some sort of wage that you know, livable, right, that
people could make a career out of, because we had
(09:44):
such a big drop off if you weren't on any
of the national teams after college, it's like what do
I do now? So we're losing a ton of talent
and then just the all the things that go into
one professional athlete being successful, right, Like we're talking medical,
whole business ops, hockey ops, the marketing structures, you name it.
(10:04):
It really was this whole puzzle piece that we were
able to put together.
Speaker 4 (10:08):
Yeah, and just following up with what Jason just said, Hillary, like,
when you're in these rooms, you're in like the top top,
top tier of like intelligence, people that can actually grow
a business and scale it across around across the planet.
But people don't know you want two titles of Wisconsin,
University of Wisconsin, and then you got your MBA. When
you think about your MBA, how much comfort does that
(10:32):
bring to you that you're in a room like this
that you can actually handle yourself the way you have
so beautifully.
Speaker 5 (10:36):
I think honestly, between the MBA and just being on
a team sport and being around team sports, like, I
felt really prepared because we're with so many amazing people
and you really figure out whose strengths you're relying on
and what you can bring to the table and how
you tap into those individual strengths and then collective strengths.
But I would say going back to school is good
(11:00):
because I understood a little bit more of the lingo,
and you know, that's where I think I was a
little bit excited about the law piece because that's.
Speaker 1 (11:06):
A completely different kind of jargon in itself.
Speaker 5 (11:09):
So it was it was a really eye opening experience
and a really good personal growth experience as well to
just learn from these amazing people. But I think the
biggest thing at the end of the day is you
think you're just an athlete, right, and you're like, oh,
I don't. It's sort of that imposter system. You're like, oh,
what what am I doing over here? And then you
quickly realize, like, how many of those life those skills
(11:30):
that you learn in sport are life skills and so
applicable to not only just life, but you know, any
industry in general. And so that was really exciting to
experience that.
Speaker 3 (11:41):
Oh boy, she just hit a key key square in
the Alex Rodriguez Bingo card imposter syndrome. Alex, You've had
these exact same experiences when you go into these rooms, right.
Speaker 4 (11:52):
Oh yeah. And somebody that came on our podcast, Steve Young,
who we both you know, love and admire so much,
he talked about it and he's reached the pinnacle both
in the football field with titles and Super Bowls, and
he's also you know, part of a you know, almost
a ten billion dollar private equity fund, and he's a
partner and to this day, and I believe Steve is
(12:12):
now north of sixty he's still experiencing it, but it's
okay to talk about it because that's how you kind
of get past that moment. So I love that you
said that.
Speaker 3 (12:33):
So Hillary, take us in, you know, into the more
recent past where you're going from negotiating for health insurance
and within a matter of a couple of years you're
playing to us, you're playing in front of a sold out,
crowded Madison Square Garden like the world's most famous arena.
Speaker 2 (12:54):
We're all familiar. Like, what are the.
Speaker 3 (12:56):
Two or three things that provide that level of jump?
Speaker 5 (13:01):
Yeah, well, one, I think having the best product, right,
I think at the end of the day, like you're
selling a product and that's your players, and you want
to showcase them the best of their ability, and you
need to provide those things and those resources to continue
to you know, evolve, whether it's your superstars or your
depth players. So I think they've done a tremendous job
(13:23):
of being able to plug away at that. But then
also I think one of the smartest things, and I
know it's it's a little bit different up in Canada,
but because hockey is still very much growing in the
United States, providing a free live stream that is like
a cable level quality and caliber to fans, so we
(13:44):
can get introduced to new fans and also continue to
secure sort of those fan bases that have always existed
but now can exist consistently and they know where to go,
and they know where to find the best players sort
of in the world. Can it out night in, night out.
So those are the two things top of mind. But
(14:05):
you know, there's so many things that go into supporting
us on this stage. And if you look like you're one,
we're kind of figuring it out right, like we're disrupting
our own industry. And then year two we kind of
have a good feel and a sense of that. And
then knowing it's an Olympic year too, and how many
more eyeballs we can capture and continue that awesome momentum
from the world's greatest spectacle and track them back to
(14:28):
what we're doing. Was just a huge success point for
the league, and I think that that went well as
you saw at Madison Square Garden.
Speaker 3 (14:36):
Yeah, so talk about the Olympic side of this, because
you know, when I think about the success of you know,
the NWSL for instance.
Speaker 2 (14:47):
You know, clearly there are a lot.
Speaker 3 (14:49):
Of parallels here, but that sort of stage and the exposure,
for lack of better term, that that the Olympics provide
tell us more about the Olympic experience. Because you've got
two gold medals under your belt, how does that translate
for you both as a player who wants to continue
(15:09):
her professional career, but also as a business in and
of yourself.
Speaker 5 (15:14):
Yeah, I think they just shine a brighter spotlight on
what we're doing. And there's this different type of fan
that watches the Olympics in most cases.
Speaker 1 (15:24):
And so what was happening before is we would have
this amazing.
Speaker 5 (15:28):
Spectacle US Canada, you know, the awesome games, the heartbreakers,
the success stories, and then we would disappear and then
wait for another four years and we would build that
momentum back up. So what was different about this time
through is we had a league and so I think
that excitement was building throughout the season, right and then
because we had such an amazing Olympics all the countries did,
(15:51):
people are really excited about continuing to watch and see
how those storylines unfolded. So the storyline is just I
think there's just way more buzz around it, way more excitement,
I think, if I'm looking back, sort of the flurry
of media leading up to for me was crazy.
Speaker 1 (16:08):
It was almost like I didn't have.
Speaker 5 (16:09):
Any time in my afternoon available, which is a great thing, right,
It's a good problem to have. But Yeah, people were
really interested in what we're doing, and so I think
the league did a fantastic job of telling those stories.
And it's really hard if you're not an NBC partner
to figure out how you plug into that massive event.
Speaker 1 (16:25):
They did a beautiful job of doing that.
Speaker 4 (16:28):
So Hillary, talking now as a governor of the WNBA team,
the Minnesota Lynx, and seeing other momentum we've experienced. I
mean literally, you've had a shotgun seat, like you've been
watching this firsthand, from the CBA Collective Bargain Agreement to
starting a new league to being one of the best
players in the world. What advice would you give my
(16:49):
partners and I as far as building continue to build
a WNBA, whether it's sponsorship, what should we be telling
our TV partners, what should we be doing with ticketing partnerships? Overall?
What advice would you give us?
Speaker 5 (17:01):
Yeah, I think it's not necessarily a moment but a
momentum piece, right, and that investment has to be strategic
and authentic. And I think the biggest and the coolest
thing about just women's sports and specific if we put
them in a silo, is the storytelling piece. And I
think that's what's disruptive about them, and that's what gets
fans even more engaged and involved, not only in the
(17:22):
business side, but also a personal player side as well,
and so that's what's been really exciting to see. So
I'd say just authentic storytelling and starting there and figuring
out how those partnerships really elevate the product, but then
also the player's massive storylines that they can bring in
because at the end of the day, we're all entertainers, right,
And so I'm tuning in to watch that because I
know about sort of the back end of what's going on,
(17:44):
and that's exciting to me and I want to see
how everything unplays. And I think now just with you know,
the way broadcast and streams are going, sports are such
a massive and interesting thing to tune into, right, So
it's it's really exciting to see the sports space all all.
Speaker 3 (18:01):
Right, Well, speaking of viewership, it would not be a
hockey conversation, if we didn't talk about probably the biggest
storyline in hockey men's or women's over the past couple
of years, which is heated rivalry.
Speaker 2 (18:13):
Heard of it?
Speaker 3 (18:15):
So, I mean one of the fascinating things Hillary that
that we saw with that is something that we you
sort of alluded to this, which is sports is this
kind of like cultural common language and this notion that
you know, sports and culture. I mean, it's sort of
the basis of this entire show sports, business and culture.
(18:37):
But with something like heated rivalry, like it pushes hockey
into the zeitgeist and sort of the everyday conversation in
a way that it hadn't been at least for a time. Uh,
is there a way to capitalize on that sort of
interest that you know, people are just talking about hockey
in general?
Speaker 2 (18:56):
And what do you make of that whole phenomenon.
Speaker 5 (18:59):
Yeah, I think it was probably one of the best
things to happen to the sport in general. If I'm
just gonna blanket statement because I think some sometimes I'm
looking at the sport and I think we're a little
bit behind the times, right, and I think it's wonderful
to continue to have conversations and create more spaces for
all sorts of different types of people who want to
(19:20):
be fans of the sport that we all love, right,
And I think heater.
Speaker 1 (19:23):
Rivalry was an awesome talking.
Speaker 5 (19:25):
Point and a great easy way to jump into a
conversation that people might feel scared about having a conversation
about queer community, right and intersectionality of hockey, because you know,
we want to create these safer spaces, and you know,
it is a very insulated culture at times, and so
I think it was great to kind of open the
(19:45):
door and shine a little bit of light in different
areas and continue that dialogue.
Speaker 1 (19:50):
And also, I mean it's an entertainment piece. I mean
it's awesome.
Speaker 5 (19:53):
We rarely get great like hockey movies, So I think
we're all fans whenever at hockey entertainment piece comes out
and you're like okay. And by the way, I will
sort of as an aside, when I met Connor story
in person, I was like, Hey, where's the Russian accent?
Speaker 1 (20:10):
Like that's how good this guy was, right, It's like,
what's going on?
Speaker 5 (20:15):
So, yeah, it's funny you bring this up because I
actually just a Jersey arrived this morning from this West.
Speaker 1 (20:21):
So that's pretty cool.
Speaker 4 (20:22):
Yeah, yeah, So Hillary and Jason recently, I was reading
his article and it was predicting that by the year
twenty forty, all the sports teams the franchises are going
to be some of the biggest production companies in the world,
which to your point about sports being the great AI trade,
(20:42):
but also experiences what's happening in New York right now,
it's like mind blowing. It's all stories that we want
more and more and more of and we just can't
get enough. So I think your forecast is spot on.
Speaker 3 (20:54):
And so Hillary like sort of putting some of those
things together. I mean, you are the face of the sport.
I'm not saying that is a like just a flatter you.
Speaker 2 (21:03):
It's true. Like, I mean, you're the most famous player
in your game. And so.
Speaker 3 (21:09):
With that comes to a certain measure of responsibility, which
clearly you exercised in getting this league started. What's the
next thing that you think you can do, and maybe
it is on the storytelling front or the media front.
Speaker 2 (21:22):
Or whatever that may be.
Speaker 3 (21:24):
What's something you can do, especially what we're going to
talk about what you do after you play in a minute,
But while you're still playing. What are the things that
you feel like you can do to keep the sport
front of mind.
Speaker 5 (21:35):
Yeah, I think honestly just imparting what I've learned on
younger players and getting them to a level where they're
comfortable to be in their own advocate and they're comfortable
pushing the envelope and continue to ask questions and sort
of disrupt the space as we go along, because I
think that's a very healthy growth and I think we're
going to need these young, bright minds to challenge things
(21:58):
in a very constructive way to continue to push the
sport forward and also get what they've earned along the way, right,
And so that's something I think that's top of mind
right now for me.
Speaker 1 (22:08):
Is that education piece. But yeah, it's exciting.
Speaker 5 (22:13):
I feel like the doors are wide open of you know,
what's the next thing that I can do in the sport,
And I'm sort of sifting through what I want to
do because I love building and I think I have
a gift to be able to kind of see what's
coming along and figuring out what problem I can solve
for the future, and that's super exciting to me.
Speaker 4 (22:46):
So, Hillary, I think you have a lot of gifts
and I think Jason, she reminds me of our mutual
friend grand Hill, and grand Hill is a Hall of
Fame basketball player. Hillary, who is went to Duke, had
a Hall of Fame basketball career, now is an owner
of Team Sports multiple also as a top guy in TV,
one of the top guys in TV like he can.
He has a real estate empire. So I think your
(23:09):
challenge is going to be You'll be pulled into so
many directions with so many opportunities. But I think if
I can just ask you this one question in a
dream world, what would Hillary and I be doing in
five years and you can wear multiple hats.
Speaker 1 (23:24):
Well, Honestly, I love the sport.
Speaker 5 (23:25):
I want to stay in the sport as much as possible,
and so when I look at maybe this is more
than a five year plan, but I would love to
put together an all women's ownership group and grab one
of these teams whenever they do get spun off and
are available for sale, because I just I believe in
the product. I believe in the players so much, and
I want to give them the world, you know, and
(23:47):
I want to scale this thing and you know, be
able to grow. But yeah, that would be I think
sort of the first thing that comes top of mind.
But what's exciting about women's sports right now is anything
you really enter into right now, you're building, You're you're
in that that phase, and that's super exciting to me.
Speaker 3 (24:04):
For the record, as we were prepping for this Hillary
before you came on, I said to Alex, I was like,
I bet she wants to own a team. I was like,
I just I know enough about her to know the
ways that she thinks, and also like learning a little
bit even before you know, we got on with you
about you know, and again like understanding from Billy Jean
and and a lot of his perspectives sort of like
(24:24):
how this all came about and the idea that you guys,
you and.
Speaker 2 (24:28):
The other players sort of came in.
Speaker 3 (24:31):
I just say it's an incredible case study in in
I think players being partners from the beginning. And you know,
Alex obviously has a very unique perspective on this having
sat on both sides.
Speaker 2 (24:44):
Of the table.
Speaker 3 (24:44):
But you know, when a player is considered a partner
from the outset and doesn't have to sort of fight
from behind to get to that stature, I would imagine
it really changes the dynamic is that is that fair?
Speaker 2 (24:58):
Does it feel like that in your league?
Speaker 5 (24:59):
Right? Yeah? Definitely, And you know at times there's that
healthy like what's going on right, like we're battling it out.
But no, I think and I could be mistaken, but
I think we're the first league to.
Speaker 1 (25:12):
Launch with a CBA in place.
Speaker 5 (25:14):
Yes, So that's I mean, that's historic in itself, and
I think that just goes to show the promise of
this ownership group. And you know, I understand, like sports
business will evolve and it will become what it what
it will be, but you know, right from the hop
they were really interested in getting this right and they
continue to be that way, which is exciting.
Speaker 3 (25:35):
Well, and Alex and I think you remember this storry
to just jump in on this because I think it's
a really important point and Hillary alluded you alluded to
it a second ago. Which is one of the really
kind of radical decisions that was made early on was
that Mark and Kebra basically said we're going to own
the league, like we're going to own all the teams.
We're not going to sell the franchises at the outset.
(25:58):
We want to make sure that this is economically viable.
And sustainable. So we're going to own the whole thing
and then sort of get to the point where I've
got that right, right, Hillary, that that that's turn right, Yeah.
Speaker 1 (26:12):
Yeah, And so you know it does.
Speaker 5 (26:14):
It definitely has like challenges right when when you think
about a single owner versus like multiple and both ways
you can cut it either way, right, And so I
think what's really cool is they see this as a
massive investment and there's a whole structure behind it and
it's not just oh, we're just going to write a
(26:34):
check and then we're going to sell it off to
here and then hope for the best. And so there
are protections in place to make sure that this thing
does have the right structure to be here forever.
Speaker 1 (26:44):
And that's exciting.
Speaker 4 (26:45):
So Jason permission to give Hillary a little bit of
an idea.
Speaker 2 (26:53):
I love it.
Speaker 4 (26:53):
So I'm very bullish on your on your career, past career,
future career. And I've been a big fan since one
of all the things you've been doing, I kind of
came familiar with you. But here's the idea. I think
you create night sports. Okay, you like it so far,
you go on and raise two hundred and fifty million dollars. Okay.
You first, once your league is viable and it becomes economic,
(27:17):
you know, sustainable, you can invest in a in a
handful of teams. There's examples in other sports like arc
tools and dial that that have done this, but specifically
for women's sports. And then after you do hockey, you
can go to softball, you can go to women's soccer,
and you can be involved helping multiple teams. Uh, kind
of find a dream. What do you think?
Speaker 1 (27:39):
I love it? There you go, I.
Speaker 3 (27:41):
Love it all right, son. We just we just created
a business plan. This isn't This is new for us.
Usually we're just like, hey, what if we buy this
thing together. This is like we're launching a company.
Speaker 2 (27:53):
This is great. This is great. Yeah, No, when does
this go live?
Speaker 1 (27:56):
I gotta go figure that out first.
Speaker 3 (28:01):
I would love to to sort of wrap this up
because I know you've got to go and do some
some hockey business, but you know, to sort of put
a bow on this.
Speaker 2 (28:10):
You know.
Speaker 3 (28:10):
One of the things that really excited me about talking
to you was that we did have this this initial
conversation about your league with Billy Jean and Alana, and
so I feel like we even in that room where
like and I will I'll maybe just tell the story
of myself. I was like, oh my god, I'm talking
to Billy Jean King, like, I mean, so can you
(28:32):
give us like a Billy Jean King story. It's like,
give us one Billy Jean King story from this process
because she's also like one of one in terms of
her personality and her approach.
Speaker 2 (28:43):
You must have a good one. You must have a
good one.
Speaker 5 (28:47):
Okay, I this is I hope this isn't underwhelming because
we were the black Hawks hosted us like years ago,
and Billy Jean King I don't think I ever had
a hockey stick in her hand. And they're like, well,
you you the shot from center ice. So they just
signed her up for the shot from center ice.
Speaker 1 (29:05):
And you know, the hole is like.
Speaker 5 (29:07):
Tiny because they put they put the barrier on there
and you have to get the pluck through there, and
in front of a nearly sold out crowd at the
United Center, she nailed it.
Speaker 2 (29:16):
Oh and God nailed it.
Speaker 5 (29:18):
My teammate Kendall quin Schofield was teaching her how to
hold a hockey stick, where to put her hands on
the stick right before going out there and if that
doesn't just tell you who Billy.
Speaker 1 (29:27):
Jean King is, Like, she is a winner, she's a champion.
Speaker 5 (29:30):
Right, And so that kind of started off the relationship.
And I was like, yes, like, you obviously hear you
know Billy Jean King. You hear the stories the Dollar,
you know, you've seen the movies, you've read the books.
Speaker 1 (29:42):
And.
Speaker 5 (29:44):
She's got this or about her and anything she does,
like it's it. You got to trust her. And so
to have her from the very first conversation and then
to have her as an advisor, it is just so surreal.
Speaker 3 (30:00):
I can't believe you thought that that story was underwhelming.
That's one of the best stories I've ever heard.
Speaker 2 (30:07):
Oh my god, that's incredible. It's incredible. All right, Well
we know you got to go. Hillary.
Speaker 3 (30:12):
What a treat, what a pleasure for us. Thank you
so much for the time, best of luck. We're excited
to have launched your business here on this podcast, and
we can't wait to see you in the near future
and see what you get up to next.
Speaker 2 (30:26):
Thank you so much.
Speaker 1 (30:27):
Thanks guys, I appreciate it.
Speaker 2 (30:33):
The Deal is a production from Bloomberg Podcasts and Bloomberg Originals.
Speaker 3 (30:37):
The Deal is hosted by Alex Rodriguez and me Jason Kelly.
Show was produced by Stacy Wong. Our senior producers are
Alexis HoTT and Anamazarakis. Original music by Blake Naples. Our
booker is Paige Keffer. Our executive producers are Amy Keene,
Kelly Leferrier, and Ashley Zingaro. Special thanks to Rachel Carnivale,
(30:58):
Elena sos Angeles and Nix. You can also watch this
episode on The Deal on YouTube. Subscribe to The Deal
and leave us a review wherever you get your podcasts.
It helps other people find the show. Thanks for listening.
Bloomberg Audio Studios, Podcasts, Radio News.
Speaker 2 (00:12):
Welcome back to the Deal.
Speaker 3 (00:13):
I'm Jason Kelly alongside Alex Rodriguez coming up on the
show Hillary Knight. So, this is arguably one of the
best hockey.
Speaker 2 (00:21):
Players on the planet. You know her from the Olympics.
Speaker 3 (00:24):
You know her from carrying the American flag in the
closing ceremony.
Speaker 2 (00:28):
She's the captain of that team.
Speaker 3 (00:30):
What I think is so interesting, Alex is unfortunately, up
until this point, we've only really been able to pay
attention to female hockey players when the Olympics were on. Well,
now there's a professional league. We know about it because
our friend Billy, Jim King and Alana they backed the
PWHL and it is going gangbusters. I was super impressed
(00:50):
with her, and she's got a lot of ambition for
herself and the league.
Speaker 4 (00:55):
What did you think, you know, Jason, I could not
help as I was speaking with her with you that
she reminded me of Grand Hill Hall of Fame, Grand
Hill from the NBA. The reason why is like she
has like this evergreen talent that everybody wants. She's gonna
have opportunities to do TV ownership, players like whatever. She's
almost gonna have an embarrassment of choices. But what I
(01:17):
also love about her is she is the epitome of
a modern day athlete where they love business. They're prepping
for life after their sport way before they retire, and
there's a trend that's moving in the right direction, and
they have the ambition and they have the knowledge, and
they want to do it, and I think she's perfectly
positioned for life after hockey.
Speaker 3 (01:37):
Yeah, it's interesting you make that comparison to Grant Hill.
I think you can also go even further back and
think about some of the NBA players in the nineteen
eighties who were hitting a league as it was really
catching fire. And that's what's happening with her with the PWHL.
Since we recorded this episode, the PWHL, which of course
(01:57):
is owned by Mark Walters his family of Dodgers and
Lakers fame, they have brought on additional investors into you,
as they say, the top co into the league. This
is our sense in anticipation of ultimately selling the franchises.
We know that that's their eventual goal. They really have
(02:20):
this business running on all cylinders, and hockey is having
a super interesting moment culturally, and I just I love
talking to her.
Speaker 2 (02:28):
I loved her ambition.
Speaker 3 (02:29):
I loved you guys sort of trading notes on what
happens next for an athlete in business.
Speaker 4 (02:34):
I'm really excited to see what's going to happen. And
from Mark Walter's point of view, you can have a
better finance, more capable human being to start a league.
Just look at what he's done with the Dodgers and
what he will do with the Lakers exactly.
Speaker 3 (02:46):
It's interesting she's been playing for Seattle, but now there
was a sign and trade deal as part of expansion.
She's going to be playing in Detroit, great hockey town,
and we really expect that she's going to raise her
profile even more. Coming up, Hillary Knight, welcome back to
(03:13):
the deal. I'm Jason Kelly alongside Alex Rodriguez and I
love these where it's like game respects game.
Speaker 2 (03:18):
Hillary Knight joins us.
Speaker 3 (03:20):
Truly one of the goats of the game of hockey.
What a treat we've watched you over the years of
watch you win a gold medal not that long ago.
Now probably feels like a long time for you, since
so much has happened in the intervening time.
Speaker 2 (03:35):
So welcome to the deal.
Speaker 5 (03:37):
Yeah, thanks for having me. It feels like yesterday, right,
the gold medal?
Speaker 2 (03:40):
Does it? Yeah? Yeah?
Speaker 5 (03:43):
Sometimes sometimes, And then when I'm doing something athletic, I'm like, wow,
it's been three weeks into the off season here, I
should kind of get back on the horse.
Speaker 2 (03:52):
Yeah.
Speaker 3 (03:52):
Absolutely, So, speaking of the off season, I mean, it's
such a fascinating time for professonal hockey, especially women's professional hockey.
It feels like that something really special and interesting is happening. Finally,
I dare say, with a professional women's hockey league, it's happening.
(04:14):
So give us a sense of what it feels like
on the inside and whether it does feel like, wow, okay,
we're doing this because you've been a part of this
for a long time. Yeah.
Speaker 5 (04:23):
Well, I think first of all, we just finished year three, right,
so we're very much so in the infancy and comparative
to other professional leagues out there. And I know our
salaries were recently published and people were like, oh my gosh,
they're so low, and yeah they are low, but they
also are like a starting point for us to continue
to build and grow and deepen our CBA.
Speaker 1 (04:44):
When that becomes available to renegotiate.
Speaker 5 (04:46):
But yeah, I think for so long we craved investment
and we needed a structure of investment in a vehicle
to get us to that sustainability level. And we found
that in the Mark and kimber Walter group. And it's
been phenomenal to see where professional hockey has grown in
such a short amount of time.
Speaker 3 (05:05):
All Right, so let's jump right in there, because I
know Alex and I both have a lot of questions
about that deal. That is the deal that sort of
sets this all in motion. We were fortunate to have
Billy Jean and Alana on our show it's now a
couple of years ago, and they were talking about sort
of the development of that and keep me honest on
the history here, you and some other star players had
(05:26):
essentially said, we're not playing until we have real confidence
that there is a sustainable financial investment into this league.
How did Mark and his family and Billy Jean and
Alana ultimately how did they convince you that they were
for real? Yeah?
Speaker 1 (05:46):
Well, honestly, and that's true.
Speaker 5 (05:48):
We sort of embarked on something called the Dream Gap Tour,
which we sort of curate an experience for the players
to give them resources some sort of training stipend to
continue that programming, so wouldn't be left without or absent
from playing games, because you know, we have to continue
that development piece. So we embarked on the dream Gap
tour for a handful of years COVID hit we were
(06:09):
able to float ourselves, and honestly, Billy Jean King and
a lot of class brokering that deal and getting us
in the right rooms to find the right vehicle, and
the whole foundation of the conversation was we want to
provide a professional experience to the players, and that's something
that we lacked for forever, right. I think if we're
looking back and reflecting, we really had a lot of
(06:31):
semi pro leagues and a lot of you know, just
one off sort of endorsements. We're trying to capitalize on
a moment versus strategic investing, and so when we had
those conversations, you know, I think at first we were
a little apprehensive because the hockey world is very insular
and different, right, There's a lot of nuances to the sport,
(06:51):
and to have an investor that doesn't necessarily know that
world right off the hop.
Speaker 1 (06:55):
We're like, oh my gosh, you know how is this
going to work out?
Speaker 5 (06:58):
But to have advisors, guidance from Billy Jean King and
she's been through it many different times before. And then
also the promise that we're going to provide a professional
league and we're going to give it enough gas and
enough legs to be able to carry itself for many,
many years was extremely exciting for us.
Speaker 4 (07:14):
Yeah, Billy Jean and Alana are just incredible. They're forces
of nature and they work so well together. Going to
Mark Walter, who's a partner, he's a governor in the NBA.
When you see what Mark Walter's built in Goggenheim in
like twenty five years, it's incredible. Then he goes to
the Dodgers and takes him from basically bankruptcy to the
greatest franchise in the sport. And now he's bought the
(07:35):
Lakers for ten billion dollars. Everything he touches turns into gold.
But when Alana and Billy Jean put you in the
room with Mark, what was it about Mark that impressed
you that you said, this is the right person for
us or the right group for us to follow.
Speaker 5 (07:48):
Yeah, I think just the authenticity of the promise right
and knowing someone who's done it before and having that
experience with the MLS like previously when it's a very
very much so a startup league, right, and being able
to move I guess in a non traditional way while
also having in lays that were traditional from his sports
experience and other backgrounds was really exciting. So it was
(08:12):
sort of this like one two punch approach that we
could really be dynamic in the spaces that we wanted
to move in the doors that need to be open,
and obviously a massive strategic investment to be able to
give this self these these things wings. And Yeah, it's
crazy to see the growth in such a short amount
of time. And I think just like as a player,
when you're in it and you're so close to it.
(08:33):
We're expanding this year another few teams, right, it's like
what are we doing?
Speaker 1 (08:37):
But we're already going to be at twelve, Like that's insane.
Speaker 5 (08:40):
So it just goes to show the promise and the
commitment that this group has and where they want to
take the sport, which is incredible.
Speaker 3 (08:46):
And so when you go into that room, Hillary, what
are you asking for specifically? Like you've seen what doesn't work,
and so what are the key components to the business
from a player's perspective.
Speaker 5 (09:00):
Yeah, and the simple answer is everything. Right, we did
not have really any structure to be able to support
ourselves outside of what we're doing with our existing partnerships,
and it wasn't enough money to give us the length
and the depth that we needed and so for many
years and we still don't necessarily have spaces that are
created for us quite yet. So that's what's exciting with expansion.
It's like, you know, how close are we to breaking
(09:23):
ground on our own practice facility or where are we
plugging in to you know, some of these major arenas
and venues. So that's super exciting. But yeah, I mean,
I think health insurance was a huge starting point for us,
some sort of wage that you know, livable, right, that
people could make a career out of, because we had
(09:44):
such a big drop off if you weren't on any
of the national teams after college, it's like what do
I do now? So we're losing a ton of talent
and then just the all the things that go into
one professional athlete being successful, right, Like we're talking medical,
whole business ops, hockey ops, the marketing structures, you name it.
(10:04):
It really was this whole puzzle piece that we were
able to put together.
Speaker 4 (10:08):
Yeah, and just following up with what Jason just said, Hillary, like,
when you're in these rooms, you're in like the top top,
top tier of like intelligence, people that can actually grow
a business and scale it across around across the planet.
But people don't know you want two titles of Wisconsin,
University of Wisconsin, and then you got your MBA. When
you think about your MBA, how much comfort does that
(10:32):
bring to you that you're in a room like this
that you can actually handle yourself the way you have
so beautifully.
Speaker 5 (10:36):
I think honestly, between the MBA and just being on
a team sport and being around team sports, like, I
felt really prepared because we're with so many amazing people
and you really figure out whose strengths you're relying on
and what you can bring to the table and how
you tap into those individual strengths and then collective strengths.
But I would say going back to school is good
(11:00):
because I understood a little bit more of the lingo,
and you know, that's where I think I was a
little bit excited about the law piece because that's.
Speaker 1 (11:06):
A completely different kind of jargon in itself.
Speaker 5 (11:09):
So it was it was a really eye opening experience
and a really good personal growth experience as well to
just learn from these amazing people. But I think the
biggest thing at the end of the day is you
think you're just an athlete, right, and you're like, oh,
I don't. It's sort of that imposter system. You're like, oh,
what what am I doing over here? And then you
quickly realize, like, how many of those life those skills
(11:30):
that you learn in sport are life skills and so
applicable to not only just life, but you know, any
industry in general. And so that was really exciting to
experience that.
Speaker 3 (11:41):
Oh boy, she just hit a key key square in
the Alex Rodriguez Bingo card imposter syndrome. Alex, You've had
these exact same experiences when you go into these rooms, right.
Speaker 4 (11:52):
Oh yeah. And somebody that came on our podcast, Steve Young,
who we both you know, love and admire so much,
he talked about it and he's reached the pinnacle both
in the football field with titles and Super Bowls, and
he's also you know, part of a you know, almost
a ten billion dollar private equity fund, and he's a
partner and to this day, and I believe Steve is
(12:12):
now north of sixty he's still experiencing it, but it's
okay to talk about it because that's how you kind
of get past that moment. So I love that you
said that.
Speaker 3 (12:33):
So Hillary, take us in, you know, into the more
recent past where you're going from negotiating for health insurance
and within a matter of a couple of years you're
playing to us, you're playing in front of a sold out,
crowded Madison Square Garden like the world's most famous arena.
Speaker 2 (12:54):
We're all familiar. Like, what are the.
Speaker 3 (12:56):
Two or three things that provide that level of jump?
Speaker 5 (13:01):
Yeah, well, one, I think having the best product, right,
I think at the end of the day, like you're
selling a product and that's your players, and you want
to showcase them the best of their ability, and you
need to provide those things and those resources to continue
to you know, evolve, whether it's your superstars or your
depth players. So I think they've done a tremendous job
(13:23):
of being able to plug away at that. But then
also I think one of the smartest things, and I
know it's it's a little bit different up in Canada,
but because hockey is still very much growing in the
United States, providing a free live stream that is like
a cable level quality and caliber to fans, so we
(13:44):
can get introduced to new fans and also continue to
secure sort of those fan bases that have always existed
but now can exist consistently and they know where to go,
and they know where to find the best players sort
of in the world. Can it out night in, night out.
So those are the two things top of mind. But
(14:05):
you know, there's so many things that go into supporting
us on this stage. And if you look like you're one,
we're kind of figuring it out right, like we're disrupting
our own industry. And then year two we kind of
have a good feel and a sense of that. And
then knowing it's an Olympic year too, and how many
more eyeballs we can capture and continue that awesome momentum
from the world's greatest spectacle and track them back to
(14:28):
what we're doing. Was just a huge success point for
the league, and I think that that went well as
you saw at Madison Square Garden.
Speaker 3 (14:36):
Yeah, so talk about the Olympic side of this, because
you know, when I think about the success of you know,
the NWSL for instance.
Speaker 2 (14:47):
You know, clearly there are a lot.
Speaker 3 (14:49):
Of parallels here, but that sort of stage and the exposure,
for lack of better term, that that the Olympics provide
tell us more about the Olympic experience. Because you've got
two gold medals under your belt, how does that translate
for you both as a player who wants to continue
(15:09):
her professional career, but also as a business in and
of yourself.
Speaker 5 (15:14):
Yeah, I think they just shine a brighter spotlight on
what we're doing. And there's this different type of fan
that watches the Olympics in most cases.
Speaker 1 (15:24):
And so what was happening before is we would have
this amazing.
Speaker 5 (15:28):
Spectacle US Canada, you know, the awesome games, the heartbreakers,
the success stories, and then we would disappear and then
wait for another four years and we would build that
momentum back up. So what was different about this time
through is we had a league and so I think
that excitement was building throughout the season, right and then
because we had such an amazing Olympics all the countries did,
(15:51):
people are really excited about continuing to watch and see
how those storylines unfolded. So the storyline is just I
think there's just way more buzz around it, way more excitement,
I think, if I'm looking back, sort of the flurry
of media leading up to for me was crazy.
Speaker 1 (16:08):
It was almost like I didn't have.
Speaker 5 (16:09):
Any time in my afternoon available, which is a great thing, right,
It's a good problem to have. But Yeah, people were
really interested in what we're doing, and so I think
the league did a fantastic job of telling those stories.
And it's really hard if you're not an NBC partner
to figure out how you plug into that massive event.
Speaker 1 (16:25):
They did a beautiful job of doing that.
Speaker 4 (16:28):
So Hillary, talking now as a governor of the WNBA team,
the Minnesota Lynx, and seeing other momentum we've experienced. I
mean literally, you've had a shotgun seat, like you've been
watching this firsthand, from the CBA Collective Bargain Agreement to
starting a new league to being one of the best
players in the world. What advice would you give my
(16:49):
partners and I as far as building continue to build
a WNBA, whether it's sponsorship, what should we be telling
our TV partners, what should we be doing with ticketing partnerships? Overall?
What advice would you give us?
Speaker 5 (17:01):
Yeah, I think it's not necessarily a moment but a
momentum piece, right, and that investment has to be strategic
and authentic. And I think the biggest and the coolest
thing about just women's sports and specific if we put
them in a silo, is the storytelling piece. And I
think that's what's disruptive about them, and that's what gets
fans even more engaged and involved, not only in the
(17:22):
business side, but also a personal player side as well,
and so that's what's been really exciting to see. So
I'd say just authentic storytelling and starting there and figuring
out how those partnerships really elevate the product, but then
also the player's massive storylines that they can bring in
because at the end of the day, we're all entertainers, right,
And so I'm tuning in to watch that because I
know about sort of the back end of what's going on,
(17:44):
and that's exciting to me and I want to see
how everything unplays. And I think now just with you know,
the way broadcast and streams are going, sports are such
a massive and interesting thing to tune into, right, So
it's it's really exciting to see the sports space all all.
Speaker 3 (18:01):
Right, Well, speaking of viewership, it would not be a
hockey conversation, if we didn't talk about probably the biggest
storyline in hockey men's or women's over the past couple
of years, which is heated rivalry.
Speaker 2 (18:13):
Heard of it?
Speaker 3 (18:15):
So, I mean one of the fascinating things Hillary that
that we saw with that is something that we you
sort of alluded to this, which is sports is this
kind of like cultural common language and this notion that
you know, sports and culture. I mean, it's sort of
the basis of this entire show sports, business and culture.
(18:37):
But with something like heated rivalry, like it pushes hockey
into the zeitgeist and sort of the everyday conversation in
a way that it hadn't been at least for a time. Uh,
is there a way to capitalize on that sort of
interest that you know, people are just talking about hockey
in general?
Speaker 2 (18:56):
And what do you make of that whole phenomenon.
Speaker 5 (18:59):
Yeah, I think it was probably one of the best
things to happen to the sport in general. If I'm
just gonna blanket statement because I think some sometimes I'm
looking at the sport and I think we're a little
bit behind the times, right, and I think it's wonderful
to continue to have conversations and create more spaces for
all sorts of different types of people who want to
(19:20):
be fans of the sport that we all love, right,
And I think heater.
Speaker 1 (19:23):
Rivalry was an awesome talking.
Speaker 5 (19:25):
Point and a great easy way to jump into a
conversation that people might feel scared about having a conversation
about queer community, right and intersectionality of hockey, because you know,
we want to create these safer spaces, and you know,
it is a very insulated culture at times, and so
I think it was great to kind of open the
(19:45):
door and shine a little bit of light in different
areas and continue that dialogue.
Speaker 1 (19:50):
And also, I mean it's an entertainment piece. I mean
it's awesome.
Speaker 5 (19:53):
We rarely get great like hockey movies, So I think
we're all fans whenever at hockey entertainment piece comes out
and you're like okay. And by the way, I will
sort of as an aside, when I met Connor story
in person, I was like, Hey, where's the Russian accent?
Speaker 1 (20:10):
Like that's how good this guy was, right, It's like,
what's going on?
Speaker 5 (20:15):
So, yeah, it's funny you bring this up because I
actually just a Jersey arrived this morning from this West.
Speaker 1 (20:21):
So that's pretty cool.
Speaker 4 (20:22):
Yeah, yeah, So Hillary and Jason recently, I was reading
his article and it was predicting that by the year
twenty forty, all the sports teams the franchises are going
to be some of the biggest production companies in the world,
which to your point about sports being the great AI trade,
(20:42):
but also experiences what's happening in New York right now,
it's like mind blowing. It's all stories that we want
more and more and more of and we just can't
get enough. So I think your forecast is spot on.
Speaker 3 (20:54):
And so Hillary like sort of putting some of those
things together. I mean, you are the face of the sport.
I'm not saying that is a like just a flatter you.
Speaker 2 (21:03):
It's true. Like, I mean, you're the most famous player
in your game. And so.
Speaker 3 (21:09):
With that comes to a certain measure of responsibility, which
clearly you exercised in getting this league started. What's the
next thing that you think you can do, and maybe
it is on the storytelling front or the media front.
Speaker 2 (21:22):
Or whatever that may be.
Speaker 3 (21:24):
What's something you can do, especially what we're going to
talk about what you do after you play in a minute,
But while you're still playing. What are the things that
you feel like you can do to keep the sport
front of mind.
Speaker 5 (21:35):
Yeah, I think honestly just imparting what I've learned on
younger players and getting them to a level where they're
comfortable to be in their own advocate and they're comfortable
pushing the envelope and continue to ask questions and sort
of disrupt the space as we go along, because I
think that's a very healthy growth and I think we're
going to need these young, bright minds to challenge things
(21:58):
in a very constructive way to continue to push the
sport forward and also get what they've earned along the way, right,
And so that's something I think that's top of mind
right now for me.
Speaker 1 (22:08):
Is that education piece. But yeah, it's exciting.
Speaker 5 (22:13):
I feel like the doors are wide open of you know,
what's the next thing that I can do in the sport,
And I'm sort of sifting through what I want to
do because I love building and I think I have
a gift to be able to kind of see what's
coming along and figuring out what problem I can solve
for the future, and that's super exciting to me.
Speaker 4 (22:46):
So, Hillary, I think you have a lot of gifts
and I think Jason, she reminds me of our mutual
friend grand Hill, and grand Hill is a Hall of
Fame basketball player. Hillary, who is went to Duke, had
a Hall of Fame basketball career, now is an owner
of Team Sports multiple also as a top guy in TV,
one of the top guys in TV like he can.
He has a real estate empire. So I think your
(23:09):
challenge is going to be You'll be pulled into so
many directions with so many opportunities. But I think if
I can just ask you this one question in a
dream world, what would Hillary and I be doing in
five years and you can wear multiple hats.
Speaker 1 (23:24):
Well, Honestly, I love the sport.
Speaker 5 (23:25):
I want to stay in the sport as much as possible,
and so when I look at maybe this is more
than a five year plan, but I would love to
put together an all women's ownership group and grab one
of these teams whenever they do get spun off and
are available for sale, because I just I believe in
the product. I believe in the players so much, and
I want to give them the world, you know, and
(23:47):
I want to scale this thing and you know, be
able to grow. But yeah, that would be I think
sort of the first thing that comes top of mind.
But what's exciting about women's sports right now is anything
you really enter into right now, you're building, You're you're
in that that phase, and that's super exciting to me.
Speaker 3 (24:04):
For the record, as we were prepping for this Hillary
before you came on, I said to Alex, I was like,
I bet she wants to own a team. I was like,
I just I know enough about her to know the
ways that she thinks, and also like learning a little
bit even before you know, we got on with you
about you know, and again like understanding from Billy Jean
and and a lot of his perspectives sort of like
(24:24):
how this all came about and the idea that you guys,
you and.
Speaker 2 (24:28):
The other players sort of came in.
Speaker 3 (24:31):
I just say it's an incredible case study in in
I think players being partners from the beginning. And you know,
Alex obviously has a very unique perspective on this having
sat on both sides.
Speaker 2 (24:44):
Of the table.
Speaker 3 (24:44):
But you know, when a player is considered a partner
from the outset and doesn't have to sort of fight
from behind to get to that stature, I would imagine
it really changes the dynamic is that is that fair?
Speaker 2 (24:58):
Does it feel like that in your league?
Speaker 5 (24:59):
Right? Yeah? Definitely, And you know at times there's that
healthy like what's going on right, like we're battling it out.
But no, I think and I could be mistaken, but
I think we're the first league to.
Speaker 1 (25:12):
Launch with a CBA in place.
Speaker 5 (25:14):
Yes, So that's I mean, that's historic in itself, and
I think that just goes to show the promise of
this ownership group. And you know, I understand, like sports
business will evolve and it will become what it what
it will be, but you know, right from the hop
they were really interested in getting this right and they
continue to be that way, which is exciting.
Speaker 3 (25:35):
Well, and Alex and I think you remember this storry
to just jump in on this because I think it's
a really important point and Hillary alluded you alluded to
it a second ago. Which is one of the really
kind of radical decisions that was made early on was
that Mark and Kebra basically said we're going to own
the league, like we're going to own all the teams.
We're not going to sell the franchises at the outset.
(25:58):
We want to make sure that this is economically viable.
And sustainable. So we're going to own the whole thing
and then sort of get to the point where I've
got that right, right, Hillary, that that that's turn right, Yeah.
Speaker 1 (26:12):
Yeah, And so you know it does.
Speaker 5 (26:14):
It definitely has like challenges right when when you think
about a single owner versus like multiple and both ways
you can cut it either way, right, And so I
think what's really cool is they see this as a
massive investment and there's a whole structure behind it and
it's not just oh, we're just going to write a
(26:34):
check and then we're going to sell it off to
here and then hope for the best. And so there
are protections in place to make sure that this thing
does have the right structure to be here forever.
Speaker 1 (26:44):
And that's exciting.
Speaker 4 (26:45):
So Jason permission to give Hillary a little bit of
an idea.
Speaker 2 (26:53):
I love it.
Speaker 4 (26:53):
So I'm very bullish on your on your career, past career,
future career. And I've been a big fan since one
of all the things you've been doing, I kind of
came familiar with you. But here's the idea. I think
you create night sports. Okay, you like it so far,
you go on and raise two hundred and fifty million dollars. Okay.
You first, once your league is viable and it becomes economic,
(27:17):
you know, sustainable, you can invest in a in a
handful of teams. There's examples in other sports like arc
tools and dial that that have done this, but specifically
for women's sports. And then after you do hockey, you
can go to softball, you can go to women's soccer,
and you can be involved helping multiple teams. Uh, kind
of find a dream. What do you think?
Speaker 1 (27:39):
I love it? There you go, I.
Speaker 3 (27:41):
Love it all right, son. We just we just created
a business plan. This isn't This is new for us.
Usually we're just like, hey, what if we buy this
thing together. This is like we're launching a company.
Speaker 2 (27:53):
This is great. This is great. Yeah, No, when does
this go live?
Speaker 1 (27:56):
I gotta go figure that out first.
Speaker 3 (28:01):
I would love to to sort of wrap this up
because I know you've got to go and do some
some hockey business, but you know, to sort of put
a bow on this.
Speaker 2 (28:10):
You know.
Speaker 3 (28:10):
One of the things that really excited me about talking
to you was that we did have this this initial
conversation about your league with Billy Jean and Alana, and
so I feel like we even in that room where
like and I will I'll maybe just tell the story
of myself. I was like, oh my god, I'm talking
to Billy Jean King, like, I mean, so can you
(28:32):
give us like a Billy Jean King story. It's like,
give us one Billy Jean King story from this process
because she's also like one of one in terms of
her personality and her approach.
Speaker 2 (28:43):
You must have a good one. You must have a
good one.
Speaker 5 (28:47):
Okay, I this is I hope this isn't underwhelming because
we were the black Hawks hosted us like years ago,
and Billy Jean King I don't think I ever had
a hockey stick in her hand. And they're like, well,
you you the shot from center ice. So they just
signed her up for the shot from center ice.
Speaker 1 (29:05):
And you know, the hole is like.
Speaker 5 (29:07):
Tiny because they put they put the barrier on there
and you have to get the pluck through there, and
in front of a nearly sold out crowd at the
United Center, she nailed it.
Speaker 2 (29:16):
Oh and God nailed it.
Speaker 5 (29:18):
My teammate Kendall quin Schofield was teaching her how to
hold a hockey stick, where to put her hands on
the stick right before going out there and if that
doesn't just tell you who Billy.
Speaker 1 (29:27):
Jean King is, Like, she is a winner, she's a champion.
Speaker 5 (29:30):
Right, And so that kind of started off the relationship.
And I was like, yes, like, you obviously hear you
know Billy Jean King. You hear the stories the Dollar,
you know, you've seen the movies, you've read the books.
Speaker 1 (29:42):
And.
Speaker 5 (29:44):
She's got this or about her and anything she does,
like it's it. You got to trust her. And so
to have her from the very first conversation and then
to have her as an advisor, it is just so surreal.
Speaker 3 (30:00):
I can't believe you thought that that story was underwhelming.
That's one of the best stories I've ever heard.
Speaker 2 (30:07):
Oh my god, that's incredible. It's incredible. All right, Well
we know you got to go. Hillary.
Speaker 3 (30:12):
What a treat, what a pleasure for us. Thank you
so much for the time, best of luck. We're excited
to have launched your business here on this podcast, and
we can't wait to see you in the near future
and see what you get up to next.
Speaker 2 (30:26):
Thank you so much.
Speaker 1 (30:27):
Thanks guys, I appreciate it.
Speaker 2 (30:33):
The Deal is a production from Bloomberg Podcasts and Bloomberg Originals.
Speaker 3 (30:37):
The Deal is hosted by Alex Rodriguez and me Jason Kelly.
Show was produced by Stacy Wong. Our senior producers are
Alexis HoTT and Anamazarakis. Original music by Blake Naples. Our
booker is Paige Keffer. Our executive producers are Amy Keene,
Kelly Leferrier, and Ashley Zingaro. Special thanks to Rachel Carnivale,
(30:58):
Elena sos Angeles and Nix. You can also watch this
episode on The Deal on YouTube. Subscribe to The Deal
and leave us a review wherever you get your podcasts.
It helps other people find the show. Thanks for listening.
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