August 20, 2026 • 32 mins
Vanderbilt is having a moment. The university has transformed from a respected southern institution into one of the country’s most selective and sought after schools. Athletics has become an increasingly important part of that rise. At the center of it is Vanderbilt University’s Vice Chancellor for Athletics and University Affairs and Athletic Director.
In this episode of The Deal, Candice Storey Lee joins us to discuss what it takes to build a winning culture, and how athletic success can amplify a university’s broader ambitions. They also talk about the forces reshaping college athletics, from NIL and revenue sharing to conference realignment, and what those changes could mean for athletes, universities, and fans.
You can also watch this interview on the Bloomberg Podcasts YouTube page.
See omnystudio.com/listener for privacy information.
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Episode Transcript
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Speaker 1 (00:02):
Bloomberg Audio Studios, Podcasts, Radio News. Welcome back to the Deal.
I'm Jason Kelly alongside Alex Rodriguez. Coming up on the show.
Candace Story Lead. She is one of the most critical
people in the world of college sports right now. She's
the ad the athletic director down at Vanderbilt University. Vanderbilt
(00:26):
it is having a real moment. New York Magazine there
was a big article and they were talking a lot
about the rise of this school from really well respected
southern school to one of the country's most selective and
sought after institutions, and athletics is a huge part of
that story. Anybody who was watching college football last year
just saw a lot of Vanderbilt, and Candace has been
(00:49):
right at the center of that transformation. She was just
named the Sports Business Journals twenty twenty six Athletic Director
of the Year after what Vanderbilt itself even described as
a historic year across all its pros. The school's also
launching its next three hundred million dollar phase of a
campaign called Vanda United. Vanderbilt. You can make the argument
is arguably more relevant nationally than it's ever been. College sports, obviously,
(01:13):
are being completely reshaped, and Candace, she's one of the
people really defining how an elite academic institution can compete
in this new world. All right, coming up, Candace story Lee,
(01:36):
welcome back to the DAL. I'm Jason Kelly alongside my
partner Alex Rodriguez. Man. I've been looking forward to this
one in part because if you're talking to the athletic
director of Vanderbilt, that probably means that college football is
on the horizon, which it is, and it is an
amazing time to be a Vanderbilt commodore. So Candace story Lee,
(01:57):
welcome to the show. So excited to talk to you,
not just about your school, but about the state of
college sports and everything.
Speaker 2 (02:04):
So welcome, Thank you so much for having me.
Speaker 1 (02:07):
All Right, So, Alex, you and I sort of come
at college sports from different perspectives. You grew up in Miami,
you know, looking at the University of Miami. You've got
a couple daughters in college. I've got a couple of
boys who have graduated from college. But I grew up
down South and college football is a religion. And I
guess I would start Candice by asking you what you
(02:32):
did in short to bring Vanderbilt athletics to where it
is today, because I'm going to keep it a bean.
When I was a kid growing up down in Atlanta
and in Texas, Vanderbilt it was an easy dub. You
were very happy to see them on your schedule. And
now it's a hard game and almost you know you're
(02:53):
gonna have a tough time. So what did you do?
How did you make this happen?
Speaker 2 (02:56):
I appreciate that you know twenty twenty.
Speaker 3 (02:59):
Everybody about twenty twenty, as you know, the year of COVID,
and yes, there was a global pandemic going on.
Speaker 2 (03:07):
But what also happened in twenty twenty was we got
a new chancellor at Vanderbilt and a new athletic director.
Speaker 3 (03:14):
And with humility, I just say that having the opportunity
to step into the role at a time where there
was so much going on in the world. Every time
I talk about the transformation, because I think that's the
right word. Every time I talk about the transformation, I
start with the ability for me, the empowerment that I
(03:36):
was given by our chancellor to you know, execute on
a different vision, a broader vision for what Vanderbilt Athletics
can be. And I think the most important thing is
that we changed the narrative by first changing how we
thought about ourselves internally.
Speaker 2 (03:54):
And it's really important. And so when you.
Speaker 3 (03:56):
Talk about like Vanderbilt being an easy dub, you know,
I I accept, you step into the seed, you accept
everything that comes with the role, including the history. Right,
And the reality is that as an institution, we had
not always consistently invested.
Speaker 2 (04:11):
In athletics here. That's just the truth. And I think
in part you know, I would never sit.
Speaker 3 (04:17):
Here and try to speculate because I think that you
have to look at the conditions and context. Right, So
I can just say, as one who's been on campus
for a long time, I do think maybe perhaps it
was not wanting to undercut the academic rigor and the
academic selectivity that we're known for. I think what we've
(04:37):
shown over the last five years, and we had shown
glimpses historically, like Vanderbilt baseball, Vanderbilt baseball was probably the
only thing you were talking about for a long time
relative to Vanderbilt athletics.
Speaker 2 (04:49):
Right.
Speaker 3 (04:50):
They were able, in spite of to do some incredible things.
And Tim Corbyn has built what I believe is the
best baseball program in the country But what happened over
the last five or six years is we started to
act like the charter members of the SEC that we
are and decided that rather than sort of use the
things that are unique to Vanderbilt as excuses, the high academics,
(05:13):
the smaller alumni base, the fact that we're the smallest
private school in the SEC. I've I always felt like
if given a chance, we could thrive. But we had
not given ourselves a chance. And so our new chance
or unlocks resources to give us a chance.
Speaker 2 (05:29):
We began to talk.
Speaker 3 (05:30):
About vision and strategy before we even have put the
resources behind it, but we changed the way we were
talking about ourselves internally.
Speaker 2 (05:38):
You know, I can't expect you, Jason, or like a Rod.
Speaker 3 (05:41):
I can't expect you guys to believe in something that
we don't seem to believe in about ourselves.
Speaker 2 (05:47):
Right, you know, And that's really really important.
Speaker 3 (05:49):
It almost be easier to just start over, right, to
start from scrats and to take something that's entrenched. But
every day just trying to challenge the language that we're
using and the ability to unhook from the past.
Speaker 2 (06:02):
I don't run away from.
Speaker 3 (06:03):
It because it is a part of who we are.
And you got to take good and bad. But it
doesn't have to be the thing like our DNA doesn't
have to be fixed on the history.
Speaker 2 (06:14):
I do feel like we've taken some great steps.
Speaker 3 (06:17):
You gotta be good, you got to invest, you gotta
be lucky, you know, and prayerfully things are lining up
for us. And I'm deeply appreciative because you know, as
you all know, right in sports, it's a team effort.
So I'm certainly happy to lead the charge from an
athletic standpoint, but it has taken every single person affiliated
to buy in. And so we've just we've been shifting
(06:39):
the narrative and been executing behind it. And you know,
I never ever guarantee wins, but I will bet on
us if we put ourselves in position to compete. And
that takes resources, and that takes attitude, and that takes
the right mind shift, and we're finally doing that.
Speaker 4 (06:57):
I love love this missionary love store between you and Vanderbilt.
I mean, it is the ultimate missionary story. Someone with
your challenge. You have three more degrees than I have,
you know, a master's and a PhD and a doctorate
in education. I guess two things. What is it about Vanderbilt.
That has talked to your soul so much. One and
(07:18):
two did your parents advocate around education?
Speaker 2 (07:23):
Oh that's great.
Speaker 3 (07:24):
You know I have always been I said this a
little bit before, but I thought if Vanderbilt, if we
gave ourselves a chance at Vanderbilt, I think the sky
is the limit.
Speaker 2 (07:33):
I have always believed that.
Speaker 3 (07:35):
When I came here at seventeen, the women's basketball program
was very good and had been very competitive, and I
wanted to play in the SEC and I was drawn
to it immediately when I came to visit. But the
thing that I understood even as a teenager was that
this place was going to challenge me. It was going
to create a beautiful environment for me to grow, but
(07:56):
it was going to challenge me. They and goodness, I
know a little bit more to David. I knew at seventeen,
but I did at seventeen know that that was going
to be an important part of my growth. And I
think we continue to do that, to provide this incredible
opportunity for young people where you can challenge them but
also care and support them.
Speaker 2 (08:16):
I love that.
Speaker 3 (08:17):
I think we kind of hold both of those things
together better than anywhere and I've I never set out
to stay at Vanderbilt this long, just being honest, But
the reality is that I found every single time, I
just continue to have opportunities to grow and just sort
of live out my values and from a quality of
life standpoint, that's so important, and then the chance to
(08:39):
kind of give that. You know, my parents. A great
question about my parents. My father's a retired lieutenant colonel
in the Army, my mom retired from NASA.
Speaker 2 (08:49):
They're very you know, from a professional standpoint.
Speaker 3 (08:53):
Education was so important to what they did, and they always.
Speaker 2 (08:57):
Encouraged my brother and I like academic mix was first.
Speaker 3 (09:00):
Sports was something I kind of got to do as
an extracurricular and then as a very tall girl at
a young age, it gave me a safe place, you know,
and it gave me some confidence. But academics was always
really important and was the primary thing. So Vanderbilt sort
of fit that fit me from a value standpoint, but
(09:23):
I wanted to fit me from the competitive standpoint too,
you know, And I we say to people, right, this
is a place that's one of one. You can be
a champion in so many ways, and you don't have
to forego one area for another.
Speaker 2 (09:36):
That's what I think is special about this place.
Speaker 1 (09:51):
And so Candice, you know, being in the SEC is
in a lot of ways a privileged position. And you
pointed out, so you know, Vanderbilt's a charter member. Take
us inside the SEC right now, because you know, even
from from the time you got there as a student,
even from the time that you arrived as the AD
(10:13):
in twenty twenty, the SEC had nothing really happens in
college sports with the Without the SEC, what happens next
for the SEC? Like what what do you think is
the is the next big step forward? And we can,
you know, break it down amongst sports, but you know
it's the leading voice. What do you think the most
important next step for the SEC is in the in
(10:35):
the contours of the business of college sports.
Speaker 3 (10:37):
I mean, Jason, I couldn't agree with you more in
terms of you know, I was just talking to a
good friend of mine who was transitioning into a new
role as an athletic director, and we were just talking
about at this moment in time, in the current landscape,
where you want to be and I think you want
to be in the SEC. And yeah, and that's no
(10:59):
dispec to any other conference, but I would agree with you.
Speaker 2 (11:03):
That I think that change that happens.
Speaker 3 (11:06):
You know, we feel like as a league we're going
to be a pivotal part of that change. And we
are in such a disruptive time in college athletics that
leadership is desperately needed.
Speaker 2 (11:17):
This is an open question about what is next.
Speaker 3 (11:19):
I think, you know, you've got all of these things
going on at the same time. Right we have the
advent of nil and what that means from an open
market and just the economic model for student athletes and
what that looks like now you have. Congress is going
to have to help us figure out a true national
framework within which all of us can operate with some consistency.
Speaker 2 (11:43):
You know. I hope that as the fall progresses that
we see.
Speaker 3 (11:47):
The Protect College Sports Act actually move forward in the process.
The SEC has to be a part of any big
changes that happen. I think we're at a point now
where we need to come to grips with the fact
that amateurism the way that we knew it has changed.
But the commitment to a student athlete in the collegiate
(12:09):
model that has continuously been updated and it needs to
stay modern. But we don't need to abandon it, and
I think if you sat around the table and talk
to every athletic director in the SEC, and I would
argue every athletic director period. We don't want to we
don't want to throw the collegiate model away, but we
do have to understand that you have to take a
(12:30):
new you have to take a fresh look, right. We
have to be more thoughtful, you have to be more innovative.
You know things are changing, right, Universities are changing and
core mission is still the same, but the way that
we execute on things has to be different. And I
just don't see a future where the SEC is not
leading that.
Speaker 4 (12:49):
So Ken is when you talk about change in the leadership.
You recently made some hires football coach men and women's
college basketball coach. My question is when you think about
leadership and no one has a better vision for the
school than you do because you've been there for so
long and you understand the DNA, what qualities are you
looking for to introduce to your student athletes as coaches.
Speaker 2 (13:11):
Yeah, it's a great question.
Speaker 3 (13:12):
I appreciate that because I one of the things I
quickly learned is you know you can have this vision
for what you believe, but you know the athletics department
should be and the student athlete experience that you want
to provide.
Speaker 2 (13:24):
But you have to have the right head coaches to
do it. You know, if you don't have.
Speaker 3 (13:28):
If you don't have the right head coaches and leaders
in place to execute that, it doesn't matter how much
I want it.
Speaker 2 (13:33):
There's only so much I can do from this space
and this role.
Speaker 3 (13:37):
And so I think at this point now, over the
past six years, I think I've hired seven head coaches,
maybe eight eight With our new bowling coach, I think
that's number eight.
Speaker 2 (13:49):
And I'm always looking for the same thing.
Speaker 3 (13:52):
It's really important to me that, like I do understand
the importance of recruiting, and let me tell you about Vanderbilt,
because you don't know about Vanderbilt, and let me tell
you about you know everything that we're about. But I
don't want to have to convince you to see what
I see. But what I do understand is that if
I have to convince you at the beginning, I'm going
to have to convince you when it's challenging. And we
got to be like all in two feet in, and
(14:14):
so I am looking for people that two feed in
see Vanderbilt for the opportunity that it is. You're not
going to be successful here if you come here and
decide you suddenly want to change the things that are actually.
Speaker 2 (14:27):
Just uniquely who we are.
Speaker 3 (14:29):
You're not going to snap your fingers and have an
alumni base that rivals the University of Texas. It's not
gonna happen, right, because we have smaller we have smaller enrollment. Like,
there are certain things that are non negotiable, and you
have to be okay, not only okay with the non negotiables,
but you have to decide that that can actually be
an advantage for us, Like the academic reputation is an
(14:53):
advantage for us.
Speaker 2 (14:56):
And so if you believe that, and.
Speaker 3 (14:58):
Of course you have to be great at the x's
and o's, you got to deeply believe that this is
an opportunity to change the trajectory of lives for young people.
Speaker 2 (15:08):
And you got to be a.
Speaker 3 (15:09):
Dog and one win, you know, like I just for me,
those are the things that I'm looking for.
Speaker 1 (15:14):
And that opens up such an interesting conversation. Candice and
we were talking before we came on live about we
had had Jay Batt, who is now a colleague of
yours in the n SEC when he was at Georgia
Tech a year or so ago, and he did had
a cup of coffee at Michigan State. Now is back
back in the South where he belongs as the ad
(15:36):
at Kentucky. But you know, one of the things he
pointed out in the context of Georgia Tech, and I
would say that spiritually Georgia Tech and Vanderbilt are actually
kind of similar again, sort of having grown up in
that in terms of, like especially now, high performing athletics,
very high performing academics. One of the cases Jay made us,
and I wonder what you make of this is that
(15:58):
in this nil War old high academics can actually be
made to be a feature, not a bug in some sense.
You know that because you can, you know, be compensated
for your athletic prowess. It becomes that much more important
that you're at a school where you can get a
really good education, and you're sort of looking down the line.
(16:21):
How do you figure that in it to recruiting athletes.
You know you talked about coaches, but how does it
figure in too the modern athlete who's coming out of
high school. You know, there's a sliding doors Alex and
I were talking about this, where in this world, maybe
Alex Rodriguez or or a modern day Alex Rodriguez doesn't
(16:41):
go straight to the pros and goes to a program
like so, what are the what are those discussions with
athletes right now in terms of what your what your
proposition is.
Speaker 3 (16:51):
You know, to be honest with you, I have felt
like the academic selectivity, like the academic reputation. I mean,
perhaps it perhaps the way we talk about it's changed
a little bit, But honestly, I don't know that the
approach is really different just because they're intersale And this
is just my perspective. I think that you know, we
used to say, come to Vanderbilt and instead of a
(17:13):
four year decision, make a forty year decision. Well, now
with the ability to transfer multiple places, you know, I
tell our staff it might be a four month decision.
Before that four months, right, We're going to show you
why being a part of Vanderbilt is going to change
the trajectory for you for years and years to come.
(17:33):
He listen, the way student athletes have agency now and
the ability to move from from place to place, some
of that may not register in the same way for
some young people.
Speaker 2 (17:43):
But the reality is that if you weren't.
Speaker 3 (17:46):
Coming to Vanderbilt before because you weren't just compelled by
the academic piece. I mean, I just like, if I
really think about it, it's hard to turn down a
world class degree, and you're also getting nil support, and
you're also going to be a part of this network
for life, like and you have a chance to win
a national championship. Like if I can say those four
(18:07):
things here, I'm not sure why that would not be compelling.
Speaker 1 (18:12):
You can say that now in a way that you
couldn't before. You know, it's a different proposition. I guess
this is my point.
Speaker 3 (18:18):
No, and I think and I think so we could
always say the academic side, but it's like, you know,
you don't have to be unapologetic or you don't have
to be apologetic about it, right, and so.
Speaker 2 (18:28):
Now we can the academic side has never changed.
Speaker 3 (18:31):
But if I can tell you all the reasons why
you say you might want to go somewhere else, well,
I want to compete at the highest level. I want
to go to the league we've always sent people to,
you know, X league. I want to get a great degree. Oh,
I want to make sure y'all are competitive. Nil wise, Oh,
I want to make sure I have great facilities.
Speaker 2 (18:51):
We can say that.
Speaker 4 (18:52):
Now, Kenn's following up on what Jason said. I mean,
I guess it doesn't apply because I would have to
take the SAT three times at him up and I
may qualify to get a Vanderbilt. But assuming in nineteen
(19:16):
ninety three, I got drafted by the Seattle Mariners and
I had no choice. I mean, I saw my mom
collect food stamps at the age of twelve. I was
a number one paid by the Seattle Mariners, and as
much as I wanted to go to the University of Miami, honestly,
I just couldn't afford to it. If I was your son,
or if I was your younger brother, how would you
advise men? Thinking about that? If the Mariners came calling
(19:38):
today in twenty twenty six or twenty seven and said,
here's a million dollar signing bonus, but Vanderbilt.
Speaker 2 (19:44):
Has what to offer. Yeah, that's a great question.
Speaker 3 (19:47):
And I mean I wish if Tim Corbin, our baseball coach,
the ledendary Tim Corburn, was on his call, you know,
Tim Corburn would say, well, I mean, this is what
I deal with every day now. And you know, I'm
really excited for him coming into this new year because
the class that he's been able to to retain and
also keep from going to the pros and you know,
sprinkle in a few transfers. I mean, he has made
(20:08):
that case. He's made that proposition because he said, listen,
so you could go and you could turn pro now
at the age of seventeen or eighteen, or you could
come here. And so number one, the financial support is significant, right,
so now let's take that off the table some as
a consideration. But you also now have the opportunity to
(20:28):
train in this environment to then prepare yourself. And you know, again,
baseball's are great, Like I love that you ask the
question because for us, we also do have the tradition
to back it up in terms of the number of
guys that we're putting in the big leagues.
Speaker 2 (20:43):
So I think you can check every box.
Speaker 3 (20:46):
But it's like the opportunity to you're not just getting
an education, you're getting a great education on the baseball diamond,
but also in the classroom. But financially, we can take
that off the table now. Now even in baseball, now
there's more scholarships, you have nil and rev share like
there's just there's more reasons to come here. But we
(21:07):
can also provide that controlled environment for you, which gives
you access to incredible resources. Incredible resources, Like we're in
the middle of a baseball project right now. What they
are going to have is first class, you know, and
that's what we're trying to create, and you won't have
it again.
Speaker 2 (21:25):
I'm like an old has been was sort of okay
basketball player.
Speaker 3 (21:28):
I don't know baseball, but I do understand if you
have to go to the minors for a while and
that lifestyle is different, and we can provide something much
more compelling, I think, much more consistent with the development
of young people that then prepares you to go play
a career in Major League baseball. Like that's what we want,
(21:50):
whatever that next chapter is for you. We think Vanderbilt
is the place to prepare you and you don't have
to give things up. So like a Rod your point
about I didn't have a choice, you would have choices.
Speaker 1 (22:01):
Now though I'm fascinated by that because I had never
heard someone say it quite that pointedly that Candice, And
I'm glad you did that for a lot of players.
And again and I'm not saying this because he's my
partner and I like to gass him up. But you know,
like a rod is a rod, but there is a
there's a massive category of player who could get to
(22:23):
the major leagues for whom And you said it so well,
the financial piece is now off the table, you know,
like and so for Alex it might not have been
but for a big swath of people. And so I
guess with that in mind, I would ask you as
(22:43):
Congress considers this, as you guys, as as you as Vanderbilt,
and as part of the SEC in brief, like, what
does the right structure look like to you? Like the
center will not hold right now? You know, with this
unlimited transfers, you know, money that is not really regulated
(23:04):
in any meaningful way. What are the guardrails that need
to exist from your perspective, Yeah, I mean, just keeping
it high.
Speaker 2 (23:10):
Level, I think, you know, let me just say that the.
Speaker 3 (23:15):
Conversation that we just had right where we talked about
again using a rod as the example that you know,
the opportunity to go to the University of Miami but
just could not literally could not afford it.
Speaker 2 (23:27):
This is such an important story because people.
Speaker 3 (23:30):
Need to think about the fact that college athletics also
provides access to higher education for young people, right, Like, we.
Speaker 2 (23:37):
Don't really talk about it in that way, and we
should be in shame on us.
Speaker 3 (23:42):
And you know, for a lot of our guys that
come to school now, they decide to come to school,
they usually graduate, like they may have to come back,
but that's important to them.
Speaker 2 (23:50):
Right. So you're also then thinking of setting people up
for their futures.
Speaker 3 (23:54):
How do we ensure that those opportunities are available to
future student athletes? And I've been saying, Look, we're either
going to be the ones to kill it or to
save it. I think the way that you save it,
and we're going to need Congress's help. So we need
like true national framework, like national rules that you know,
you can't just run to a judge and sue and
(24:15):
change the game midstream for people, like national rules, right
with the appropriate legal protections that allow you to enforce
those rules, so that all young people are playing by
the same book, right, true competitors want to know that
the person to the left and to the right of
them is playing with the same set of rules.
Speaker 2 (24:34):
Right.
Speaker 3 (24:34):
And then we go out there and we decided on
the field or the court. That's what everybody.
Speaker 1 (24:38):
Wants, and that's specifically around transfer, portal and eligibility.
Speaker 2 (24:42):
And it's beyond that.
Speaker 3 (24:43):
It's around eligibility, it's around recruiting, it's around enforcement, it's
around the way that the economic model and the finances
of student athletes.
Speaker 2 (24:51):
So it's around all that. And I know you said
keep it brief.
Speaker 3 (24:53):
I would just if I'm hitting it and saying, what's
the perfect solution national standards. The opportunity to share revenue
directly with student athletes I think is appropriate. I don't
mean there's anything wrong with that, especially considering the amount
of money that's being generated by college athletics, right, so
student athletes need to be a part of that equation.
I do think people get scared when we start talking
(25:15):
about capping things. I think that we should be able
to share revenue as we can now because of the
House settlement with student athletes. But the problem where you
have sort of that unregulated marketplace that's happening with third
party NIL.
Speaker 2 (25:29):
So I believe in NIL.
Speaker 3 (25:30):
Like if you have a market, a rod has a
brand and he can monetize that, good for you, But
there needs to be a true market right, and there
needs so there needs, There needs to be.
Speaker 2 (25:41):
Some parameters around that. I don't think we need to.
Speaker 3 (25:44):
I don't want to take things away from student athletes,
but if we're going to have you know, if we're
gonna be able to celebrate college athletics in one hundred years,
we better figure out how to have some stability. I
think the ability to enforce rules. So you know, we
have these national standards, but the enforcement piece is really
really important. And I just think that again, trying to
(26:06):
keep it really simple, how do you create stability so
that young people understand the rules of engagement, they are
still able to, you know, take the financial consideration off
the table so that they can go to college if
they want, because they know they're getting money.
Speaker 2 (26:22):
But we still have some.
Speaker 3 (26:23):
Structure, and a structure that can be sustained, you know.
So there's all kinds of things right around making sure
that women and women's sports and Olympic sports, like when
you think about think about the Olympics.
Speaker 2 (26:36):
College athletics is the feeder system for the Olympics in
so many sports.
Speaker 3 (26:41):
So we don't want to be so greedy that we
erode a system that truly has global implications. And then
there's Title nine and gender equity, and we can talk
on and on and on.
Speaker 2 (26:54):
I mean, there are so many things.
Speaker 3 (26:55):
But the reality is, if I had to sum it
up in one sentence, we did a national framework that
is animal and enforcement.
Speaker 2 (27:01):
That's easy, no big deal, that's all we need, easy
to fix.
Speaker 4 (27:07):
So if I had to put on my a investor
hat at or someone who wants to make a donation
to your school, I've see and read what you've raised
over three hundred and seventy five million dollars. My question
is around structure and ri if I'm writing a check
to your school. Now, I'm involved with the w and
the NBA, and we have a CBA and essentially that's
(27:30):
the bible that we live by. We live and die
by these both players and governors. What is your pitch
to me if I'm writing a check, how do I
get in an ROI My concern is there are no rules,
no parameters, and I invest into getting a couple of
players there, and by the time there's sophomore year there
at someone else ano another school competing against us.
Speaker 2 (27:49):
Yeah, it's hard. I mean, I can, I can.
Speaker 3 (27:51):
I can honestly say I understand I truly do understand why,
you know, to ask somebody to support in IL or
to support today's roster, knowing that it could change tomorrow.
And this is why we do need And when I'm
thinking about the national framework, I am thinking about, you know,
how you curtail the transferring and how you we have
not done a good job of telling our story and
(28:12):
showing the ROI. And so for example, you know there
is real there are there's true benefit for a young
person competing in a sport and having the opportunity to
do what they do long term. Long term, the implications
are significant even short term though the like the affinity
that it builds, the visibility of the brand, what it
(28:35):
does for institutions, I do think if you do not
have a built in affinity for the place, that is
not going to be as compelling for you, right especially
because of everything that's happening now with college sports. This
is why I mean the ROI is probably not as
clear to people. It's clear I see it every day here,
(28:58):
but the reality is that we're sort of mimicking professional
sports in some ways and don't have the things that
give the structure that you're talking about, Alex, Right, this
is a problem because we're sort of living in weird spaces.
I person, I know some of my colleagues what would
like to see us have a CBA with mind student
(29:19):
athletes being employees.
Speaker 2 (29:21):
I'm probably not on that page, but I am on.
Speaker 3 (29:23):
The page of wanting structure, because right now it is
hard to your point for me to tell you in
a I think a compelling way why you should give.
I can sit here and tell you all the virtues
of athletics, and that list is long, and I think
we all know what they are. But the problem is
(29:44):
that if we don't insert some stability so I can
show you real outcomes and what happens if a young
person comes in stays. If I can't show you that,
then you're not going to want to give. And that's
just the truth. I think we're different here, of course
I do, but I actually believe it.
Speaker 2 (30:00):
I believe it that Vanderbilding.
Speaker 3 (30:01):
I know what we do with young people, and I
know what the proposition is and we're actually delivering on it.
But we also have kids that transfer out of here,
you know, because there's a bidding war and there's an opportunity,
and so this is.
Speaker 2 (30:14):
About the broader enterprise.
Speaker 3 (30:16):
The broader enterprise is in trouble right now, and no
one in the broader.
Speaker 2 (30:20):
Enterprise, I think, with true awareness can say.
Speaker 3 (30:26):
No, no, no, invest in what this is today because
it shouldn't be what it is today. And so that's
my true answer. You know, that's not I'm not I'm now.
I don't think you're gonna write me a check at
the moment.
Speaker 2 (30:39):
But what I.
Speaker 3 (30:40):
Wanted people to what I've wanted people to see is yeah,
like at Vanderbilt, I feel like we're trying to do
it differently, but the and we are, but the reality
is that this is this is a story that's greater
than Vanderbilt, Like we have to save this enterprise or
young people because I can't bring all the young people here,
you know, like there are a lot of deserving young
people that need opportunities and write now, we're not doing
(31:00):
a good job of showing why why college athletics needs
to be here to stay.
Speaker 2 (31:07):
We're not doing a good job.
Speaker 3 (31:08):
And I you know, sort of compel Congress and others
to help us get to a place where we can
be proud of it.
Speaker 1 (31:16):
Yeah, well, hopefully that will happen, because I think all
three of us love college sports. I love rooting, you know,
it's in it's in my blood from being a Southerner
as you know. And Alex from growing up in the
in the shadow of University of Miami. Super super interesting. Well,
good luck this season. I will definitely be watching and
(31:36):
Vanderbilt it's on the rise you look at you know,
everywhere you turn. Alex, it's in New York Magazine, it's
on the ESPN, it's on the Athletic no matter where
you look, they're kind of the commodores are coming, all right,
can't just really good to spend some time with you.
Thank you so much, so.
Speaker 2 (31:50):
Much, so nice to meet you all. Thank you for
having me.
Speaker 4 (31:52):
Thank you Candas of course.
Speaker 1 (32:01):
The Deal is a production from Bloomberg Podcasts and Bloomberg Originals.
The Deal is hosted by Alex Rodriguez and me Jason Kelly.
This show was produced by Stacy Wong. Our senior producer
is Anna Masarakis. Original music by Blake Maples. Our booker
is Paige Keffer. Our executive producers are Amy Kean, Kelly Leferrier,
and Ashley Zingaro. Our Head of Podcasts is Cheryl Brumley.
(32:25):
Special thanks for Rachel Carnivali, Elena Los Angeles, and Nick Silva.
You can also watch this episode of The Deal on
YouTube and subscribe to the Deal and leave us a
review wherever you get your podcasts. It helps other people
find the show.
Speaker 4 (32:38):
Thanks for listening.
Bloomberg Audio Studios, Podcasts, Radio News. Welcome back to the Deal.
I'm Jason Kelly alongside Alex Rodriguez. Coming up on the show.
Candace Story Lead. She is one of the most critical
people in the world of college sports right now. She's
the ad the athletic director down at Vanderbilt University. Vanderbilt
(00:26):
it is having a real moment. New York Magazine there
was a big article and they were talking a lot
about the rise of this school from really well respected
southern school to one of the country's most selective and
sought after institutions, and athletics is a huge part of
that story. Anybody who was watching college football last year
just saw a lot of Vanderbilt, and Candace has been
(00:49):
right at the center of that transformation. She was just
named the Sports Business Journals twenty twenty six Athletic Director
of the Year after what Vanderbilt itself even described as
a historic year across all its pros. The school's also
launching its next three hundred million dollar phase of a
campaign called Vanda United. Vanderbilt. You can make the argument
is arguably more relevant nationally than it's ever been. College sports, obviously,
(01:13):
are being completely reshaped, and Candace, she's one of the
people really defining how an elite academic institution can compete
in this new world. All right, coming up, Candace story Lee,
(01:36):
welcome back to the DAL. I'm Jason Kelly alongside my
partner Alex Rodriguez. Man. I've been looking forward to this
one in part because if you're talking to the athletic
director of Vanderbilt, that probably means that college football is
on the horizon, which it is, and it is an
amazing time to be a Vanderbilt commodore. So Candace story Lee,
(01:57):
welcome to the show. So excited to talk to you,
not just about your school, but about the state of
college sports and everything.
Speaker 2 (02:04):
So welcome, Thank you so much for having me.
Speaker 1 (02:07):
All Right, So, Alex, you and I sort of come
at college sports from different perspectives. You grew up in Miami,
you know, looking at the University of Miami. You've got
a couple daughters in college. I've got a couple of
boys who have graduated from college. But I grew up
down South and college football is a religion. And I
guess I would start Candice by asking you what you
(02:32):
did in short to bring Vanderbilt athletics to where it
is today, because I'm going to keep it a bean.
When I was a kid growing up down in Atlanta
and in Texas, Vanderbilt it was an easy dub. You
were very happy to see them on your schedule. And
now it's a hard game and almost you know you're
(02:53):
gonna have a tough time. So what did you do?
How did you make this happen?
Speaker 2 (02:56):
I appreciate that you know twenty twenty.
Speaker 3 (02:59):
Everybody about twenty twenty, as you know, the year of COVID,
and yes, there was a global pandemic going on.
Speaker 2 (03:07):
But what also happened in twenty twenty was we got
a new chancellor at Vanderbilt and a new athletic director.
Speaker 3 (03:14):
And with humility, I just say that having the opportunity
to step into the role at a time where there
was so much going on in the world. Every time
I talk about the transformation, because I think that's the
right word. Every time I talk about the transformation, I
start with the ability for me, the empowerment that I
(03:36):
was given by our chancellor to you know, execute on
a different vision, a broader vision for what Vanderbilt Athletics
can be. And I think the most important thing is
that we changed the narrative by first changing how we
thought about ourselves internally.
Speaker 2 (03:54):
And it's really important. And so when you.
Speaker 3 (03:56):
Talk about like Vanderbilt being an easy dub, you know,
I I accept, you step into the seed, you accept
everything that comes with the role, including the history. Right,
And the reality is that as an institution, we had
not always consistently invested.
Speaker 2 (04:11):
In athletics here. That's just the truth. And I think
in part you know, I would never sit.
Speaker 3 (04:17):
Here and try to speculate because I think that you
have to look at the conditions and context. Right, So
I can just say, as one who's been on campus
for a long time, I do think maybe perhaps it
was not wanting to undercut the academic rigor and the
academic selectivity that we're known for. I think what we've
(04:37):
shown over the last five years, and we had shown
glimpses historically, like Vanderbilt baseball, Vanderbilt baseball was probably the
only thing you were talking about for a long time
relative to Vanderbilt athletics.
Speaker 2 (04:49):
Right.
Speaker 3 (04:50):
They were able, in spite of to do some incredible things.
And Tim Corbyn has built what I believe is the
best baseball program in the country But what happened over
the last five or six years is we started to
act like the charter members of the SEC that we
are and decided that rather than sort of use the
things that are unique to Vanderbilt as excuses, the high academics,
(05:13):
the smaller alumni base, the fact that we're the smallest
private school in the SEC. I've I always felt like
if given a chance, we could thrive. But we had
not given ourselves a chance. And so our new chance
or unlocks resources to give us a chance.
Speaker 2 (05:29):
We began to talk.
Speaker 3 (05:30):
About vision and strategy before we even have put the
resources behind it, but we changed the way we were
talking about ourselves internally.
Speaker 2 (05:38):
You know, I can't expect you, Jason, or like a Rod.
Speaker 3 (05:41):
I can't expect you guys to believe in something that
we don't seem to believe in about ourselves.
Speaker 2 (05:47):
Right, you know, And that's really really important.
Speaker 3 (05:49):
It almost be easier to just start over, right, to
start from scrats and to take something that's entrenched. But
every day just trying to challenge the language that we're
using and the ability to unhook from the past.
Speaker 2 (06:02):
I don't run away from.
Speaker 3 (06:03):
It because it is a part of who we are.
And you got to take good and bad. But it
doesn't have to be the thing like our DNA doesn't
have to be fixed on the history.
Speaker 2 (06:14):
I do feel like we've taken some great steps.
Speaker 3 (06:17):
You gotta be good, you got to invest, you gotta
be lucky, you know, and prayerfully things are lining up
for us. And I'm deeply appreciative because you know, as
you all know, right in sports, it's a team effort.
So I'm certainly happy to lead the charge from an
athletic standpoint, but it has taken every single person affiliated
to buy in. And so we've just we've been shifting
(06:39):
the narrative and been executing behind it. And you know,
I never ever guarantee wins, but I will bet on
us if we put ourselves in position to compete. And
that takes resources, and that takes attitude, and that takes
the right mind shift, and we're finally doing that.
Speaker 4 (06:57):
I love love this missionary love store between you and Vanderbilt.
I mean, it is the ultimate missionary story. Someone with
your challenge. You have three more degrees than I have,
you know, a master's and a PhD and a doctorate
in education. I guess two things. What is it about Vanderbilt.
That has talked to your soul so much. One and
(07:18):
two did your parents advocate around education?
Speaker 2 (07:23):
Oh that's great.
Speaker 3 (07:24):
You know I have always been I said this a
little bit before, but I thought if Vanderbilt, if we
gave ourselves a chance at Vanderbilt, I think the sky
is the limit.
Speaker 2 (07:33):
I have always believed that.
Speaker 3 (07:35):
When I came here at seventeen, the women's basketball program
was very good and had been very competitive, and I
wanted to play in the SEC and I was drawn
to it immediately when I came to visit. But the
thing that I understood even as a teenager was that
this place was going to challenge me. It was going
to create a beautiful environment for me to grow, but
(07:56):
it was going to challenge me. They and goodness, I
know a little bit more to David. I knew at seventeen,
but I did at seventeen know that that was going
to be an important part of my growth. And I
think we continue to do that, to provide this incredible
opportunity for young people where you can challenge them but
also care and support them.
Speaker 2 (08:16):
I love that.
Speaker 3 (08:17):
I think we kind of hold both of those things
together better than anywhere and I've I never set out
to stay at Vanderbilt this long, just being honest, But
the reality is that I found every single time, I
just continue to have opportunities to grow and just sort
of live out my values and from a quality of
life standpoint, that's so important, and then the chance to
(08:39):
kind of give that. You know, my parents. A great
question about my parents. My father's a retired lieutenant colonel
in the Army, my mom retired from NASA.
Speaker 2 (08:49):
They're very you know, from a professional standpoint.
Speaker 3 (08:53):
Education was so important to what they did, and they always.
Speaker 2 (08:57):
Encouraged my brother and I like academic mix was first.
Speaker 3 (09:00):
Sports was something I kind of got to do as
an extracurricular and then as a very tall girl at
a young age, it gave me a safe place, you know,
and it gave me some confidence. But academics was always
really important and was the primary thing. So Vanderbilt sort
of fit that fit me from a value standpoint, but
(09:23):
I wanted to fit me from the competitive standpoint too,
you know, And I we say to people, right, this
is a place that's one of one. You can be
a champion in so many ways, and you don't have
to forego one area for another.
Speaker 2 (09:36):
That's what I think is special about this place.
Speaker 1 (09:51):
And so Candice, you know, being in the SEC is
in a lot of ways a privileged position. And you
pointed out, so you know, Vanderbilt's a charter member. Take
us inside the SEC right now, because you know, even
from from the time you got there as a student,
even from the time that you arrived as the AD
(10:13):
in twenty twenty, the SEC had nothing really happens in
college sports with the Without the SEC, what happens next
for the SEC? Like what what do you think is
the is the next big step forward? And we can,
you know, break it down amongst sports, but you know
it's the leading voice. What do you think the most
important next step for the SEC is in the in
(10:35):
the contours of the business of college sports.
Speaker 3 (10:37):
I mean, Jason, I couldn't agree with you more in
terms of you know, I was just talking to a
good friend of mine who was transitioning into a new
role as an athletic director, and we were just talking
about at this moment in time, in the current landscape,
where you want to be and I think you want
to be in the SEC. And yeah, and that's no
(10:59):
dispec to any other conference, but I would agree with you.
Speaker 2 (11:03):
That I think that change that happens.
Speaker 3 (11:06):
You know, we feel like as a league we're going
to be a pivotal part of that change. And we
are in such a disruptive time in college athletics that
leadership is desperately needed.
Speaker 2 (11:17):
This is an open question about what is next.
Speaker 3 (11:19):
I think, you know, you've got all of these things
going on at the same time. Right we have the
advent of nil and what that means from an open
market and just the economic model for student athletes and
what that looks like now you have. Congress is going
to have to help us figure out a true national
framework within which all of us can operate with some consistency.
Speaker 2 (11:43):
You know. I hope that as the fall progresses that
we see.
Speaker 3 (11:47):
The Protect College Sports Act actually move forward in the process.
The SEC has to be a part of any big
changes that happen. I think we're at a point now
where we need to come to grips with the fact
that amateurism the way that we knew it has changed.
But the commitment to a student athlete in the collegiate
(12:09):
model that has continuously been updated and it needs to
stay modern. But we don't need to abandon it, and
I think if you sat around the table and talk
to every athletic director in the SEC, and I would
argue every athletic director period. We don't want to we
don't want to throw the collegiate model away, but we
do have to understand that you have to take a
(12:30):
new you have to take a fresh look, right. We
have to be more thoughtful, you have to be more innovative.
You know things are changing, right, Universities are changing and
core mission is still the same, but the way that
we execute on things has to be different. And I
just don't see a future where the SEC is not
leading that.
Speaker 4 (12:49):
So Ken is when you talk about change in the leadership.
You recently made some hires football coach men and women's
college basketball coach. My question is when you think about
leadership and no one has a better vision for the
school than you do because you've been there for so
long and you understand the DNA, what qualities are you
looking for to introduce to your student athletes as coaches.
Speaker 2 (13:11):
Yeah, it's a great question.
Speaker 3 (13:12):
I appreciate that because I one of the things I
quickly learned is you know you can have this vision
for what you believe, but you know the athletics department
should be and the student athlete experience that you want
to provide.
Speaker 2 (13:24):
But you have to have the right head coaches to
do it. You know, if you don't have.
Speaker 3 (13:28):
If you don't have the right head coaches and leaders
in place to execute that, it doesn't matter how much
I want it.
Speaker 2 (13:33):
There's only so much I can do from this space
and this role.
Speaker 3 (13:37):
And so I think at this point now, over the
past six years, I think I've hired seven head coaches,
maybe eight eight With our new bowling coach, I think
that's number eight.
Speaker 2 (13:49):
And I'm always looking for the same thing.
Speaker 3 (13:52):
It's really important to me that, like I do understand
the importance of recruiting, and let me tell you about Vanderbilt,
because you don't know about Vanderbilt, and let me tell
you about you know everything that we're about. But I
don't want to have to convince you to see what
I see. But what I do understand is that if
I have to convince you at the beginning, I'm going
to have to convince you when it's challenging. And we
got to be like all in two feet in, and
(14:14):
so I am looking for people that two feed in
see Vanderbilt for the opportunity that it is. You're not
going to be successful here if you come here and
decide you suddenly want to change the things that are actually.
Speaker 2 (14:27):
Just uniquely who we are.
Speaker 3 (14:29):
You're not going to snap your fingers and have an
alumni base that rivals the University of Texas. It's not
gonna happen, right, because we have smaller we have smaller enrollment. Like,
there are certain things that are non negotiable, and you
have to be okay, not only okay with the non negotiables,
but you have to decide that that can actually be
an advantage for us, Like the academic reputation is an
(14:53):
advantage for us.
Speaker 2 (14:56):
And so if you believe that, and.
Speaker 3 (14:58):
Of course you have to be great at the x's
and o's, you got to deeply believe that this is
an opportunity to change the trajectory of lives for young people.
Speaker 2 (15:08):
And you got to be a.
Speaker 3 (15:09):
Dog and one win, you know, like I just for me,
those are the things that I'm looking for.
Speaker 1 (15:14):
And that opens up such an interesting conversation. Candice and
we were talking before we came on live about we
had had Jay Batt, who is now a colleague of
yours in the n SEC when he was at Georgia
Tech a year or so ago, and he did had
a cup of coffee at Michigan State. Now is back
back in the South where he belongs as the ad
(15:36):
at Kentucky. But you know, one of the things he
pointed out in the context of Georgia Tech, and I
would say that spiritually Georgia Tech and Vanderbilt are actually
kind of similar again, sort of having grown up in
that in terms of, like especially now, high performing athletics,
very high performing academics. One of the cases Jay made us,
and I wonder what you make of this is that
(15:58):
in this nil War old high academics can actually be
made to be a feature, not a bug in some sense.
You know that because you can, you know, be compensated
for your athletic prowess. It becomes that much more important
that you're at a school where you can get a
really good education, and you're sort of looking down the line.
(16:21):
How do you figure that in it to recruiting athletes.
You know you talked about coaches, but how does it
figure in too the modern athlete who's coming out of
high school. You know, there's a sliding doors Alex and
I were talking about this, where in this world, maybe
Alex Rodriguez or or a modern day Alex Rodriguez doesn't
(16:41):
go straight to the pros and goes to a program
like so, what are the what are those discussions with
athletes right now in terms of what your what your
proposition is.
Speaker 3 (16:51):
You know, to be honest with you, I have felt
like the academic selectivity, like the academic reputation. I mean,
perhaps it perhaps the way we talk about it's changed
a little bit, But honestly, I don't know that the
approach is really different just because they're intersale And this
is just my perspective. I think that you know, we
used to say, come to Vanderbilt and instead of a
(17:13):
four year decision, make a forty year decision. Well, now
with the ability to transfer multiple places, you know, I
tell our staff it might be a four month decision.
Before that four months, right, We're going to show you
why being a part of Vanderbilt is going to change
the trajectory for you for years and years to come.
(17:33):
He listen, the way student athletes have agency now and
the ability to move from from place to place, some
of that may not register in the same way for
some young people.
Speaker 2 (17:43):
But the reality is that if you weren't.
Speaker 3 (17:46):
Coming to Vanderbilt before because you weren't just compelled by
the academic piece. I mean, I just like, if I
really think about it, it's hard to turn down a
world class degree, and you're also getting nil support, and
you're also going to be a part of this network
for life, like and you have a chance to win
a national championship. Like if I can say those four
(18:07):
things here, I'm not sure why that would not be compelling.
Speaker 1 (18:12):
You can say that now in a way that you
couldn't before. You know, it's a different proposition. I guess
this is my point.
Speaker 3 (18:18):
No, and I think and I think so we could
always say the academic side, but it's like, you know,
you don't have to be unapologetic or you don't have
to be apologetic about it, right, and so.
Speaker 2 (18:28):
Now we can the academic side has never changed.
Speaker 3 (18:31):
But if I can tell you all the reasons why
you say you might want to go somewhere else, well,
I want to compete at the highest level. I want
to go to the league we've always sent people to,
you know, X league. I want to get a great degree. Oh,
I want to make sure y'all are competitive. Nil wise, Oh,
I want to make sure I have great facilities.
Speaker 2 (18:51):
We can say that.
Speaker 4 (18:52):
Now, Kenn's following up on what Jason said. I mean,
I guess it doesn't apply because I would have to
take the SAT three times at him up and I
may qualify to get a Vanderbilt. But assuming in nineteen
(19:16):
ninety three, I got drafted by the Seattle Mariners and
I had no choice. I mean, I saw my mom
collect food stamps at the age of twelve. I was
a number one paid by the Seattle Mariners, and as
much as I wanted to go to the University of Miami, honestly,
I just couldn't afford to it. If I was your son,
or if I was your younger brother, how would you
advise men? Thinking about that? If the Mariners came calling
(19:38):
today in twenty twenty six or twenty seven and said,
here's a million dollar signing bonus, but Vanderbilt.
Speaker 2 (19:44):
Has what to offer. Yeah, that's a great question.
Speaker 3 (19:47):
And I mean I wish if Tim Corbin, our baseball coach,
the ledendary Tim Corburn, was on his call, you know,
Tim Corburn would say, well, I mean, this is what
I deal with every day now. And you know, I'm
really excited for him coming into this new year because
the class that he's been able to to retain and
also keep from going to the pros and you know,
sprinkle in a few transfers. I mean, he has made
(20:08):
that case. He's made that proposition because he said, listen,
so you could go and you could turn pro now
at the age of seventeen or eighteen, or you could
come here. And so number one, the financial support is significant, right,
so now let's take that off the table some as
a consideration. But you also now have the opportunity to
(20:28):
train in this environment to then prepare yourself. And you know, again,
baseball's are great, Like I love that you ask the
question because for us, we also do have the tradition
to back it up in terms of the number of
guys that we're putting in the big leagues.
Speaker 2 (20:43):
So I think you can check every box.
Speaker 3 (20:46):
But it's like the opportunity to you're not just getting
an education, you're getting a great education on the baseball diamond,
but also in the classroom. But financially, we can take
that off the table now. Now even in baseball, now
there's more scholarships, you have nil and rev share like
there's just there's more reasons to come here. But we
(21:07):
can also provide that controlled environment for you, which gives
you access to incredible resources. Incredible resources, Like we're in
the middle of a baseball project right now. What they
are going to have is first class, you know, and
that's what we're trying to create, and you won't have
it again.
Speaker 2 (21:25):
I'm like an old has been was sort of okay
basketball player.
Speaker 3 (21:28):
I don't know baseball, but I do understand if you
have to go to the minors for a while and
that lifestyle is different, and we can provide something much
more compelling, I think, much more consistent with the development
of young people that then prepares you to go play
a career in Major League baseball. Like that's what we want,
(21:50):
whatever that next chapter is for you. We think Vanderbilt
is the place to prepare you and you don't have
to give things up. So like a Rod your point
about I didn't have a choice, you would have choices.
Speaker 1 (22:01):
Now though I'm fascinated by that because I had never
heard someone say it quite that pointedly that Candice, And
I'm glad you did that for a lot of players.
And again and I'm not saying this because he's my
partner and I like to gass him up. But you know,
like a rod is a rod, but there is a
there's a massive category of player who could get to
(22:23):
the major leagues for whom And you said it so well,
the financial piece is now off the table, you know,
like and so for Alex it might not have been
but for a big swath of people. And so I
guess with that in mind, I would ask you as
(22:43):
Congress considers this, as you guys, as as you as Vanderbilt,
and as part of the SEC in brief, like, what
does the right structure look like to you? Like the
center will not hold right now? You know, with this
unlimited transfers, you know, money that is not really regulated
(23:04):
in any meaningful way. What are the guardrails that need
to exist from your perspective, Yeah, I mean, just keeping
it high.
Speaker 2 (23:10):
Level, I think, you know, let me just say that the.
Speaker 3 (23:15):
Conversation that we just had right where we talked about
again using a rod as the example that you know,
the opportunity to go to the University of Miami but
just could not literally could not afford it.
Speaker 2 (23:27):
This is such an important story because people.
Speaker 3 (23:30):
Need to think about the fact that college athletics also
provides access to higher education for young people, right, Like, we.
Speaker 2 (23:37):
Don't really talk about it in that way, and we
should be in shame on us.
Speaker 3 (23:42):
And you know, for a lot of our guys that
come to school now, they decide to come to school,
they usually graduate, like they may have to come back,
but that's important to them.
Speaker 2 (23:50):
Right. So you're also then thinking of setting people up
for their futures.
Speaker 3 (23:54):
How do we ensure that those opportunities are available to
future student athletes? And I've been saying, Look, we're either
going to be the ones to kill it or to
save it. I think the way that you save it,
and we're going to need Congress's help. So we need
like true national framework, like national rules that you know,
you can't just run to a judge and sue and
(24:15):
change the game midstream for people, like national rules, right
with the appropriate legal protections that allow you to enforce
those rules, so that all young people are playing by
the same book, right, true competitors want to know that
the person to the left and to the right of
them is playing with the same set of rules.
Speaker 2 (24:34):
Right.
Speaker 3 (24:34):
And then we go out there and we decided on
the field or the court. That's what everybody.
Speaker 1 (24:38):
Wants, and that's specifically around transfer, portal and eligibility.
Speaker 2 (24:42):
And it's beyond that.
Speaker 3 (24:43):
It's around eligibility, it's around recruiting, it's around enforcement, it's
around the way that the economic model and the finances
of student athletes.
Speaker 2 (24:51):
So it's around all that. And I know you said
keep it brief.
Speaker 3 (24:53):
I would just if I'm hitting it and saying, what's
the perfect solution national standards. The opportunity to share revenue
directly with student athletes I think is appropriate. I don't
mean there's anything wrong with that, especially considering the amount
of money that's being generated by college athletics, right, so
student athletes need to be a part of that equation.
I do think people get scared when we start talking
(25:15):
about capping things. I think that we should be able
to share revenue as we can now because of the
House settlement with student athletes. But the problem where you
have sort of that unregulated marketplace that's happening with third
party NIL.
Speaker 2 (25:29):
So I believe in NIL.
Speaker 3 (25:30):
Like if you have a market, a rod has a
brand and he can monetize that, good for you, But
there needs to be a true market right, and there
needs so there needs, There needs to be.
Speaker 2 (25:41):
Some parameters around that. I don't think we need to.
Speaker 3 (25:44):
I don't want to take things away from student athletes,
but if we're going to have you know, if we're
gonna be able to celebrate college athletics in one hundred years,
we better figure out how to have some stability. I
think the ability to enforce rules. So you know, we
have these national standards, but the enforcement piece is really
really important. And I just think that again, trying to
(26:06):
keep it really simple, how do you create stability so
that young people understand the rules of engagement, they are
still able to, you know, take the financial consideration off
the table so that they can go to college if
they want, because they know they're getting money.
Speaker 2 (26:22):
But we still have some.
Speaker 3 (26:23):
Structure, and a structure that can be sustained, you know.
So there's all kinds of things right around making sure
that women and women's sports and Olympic sports, like when
you think about think about the Olympics.
Speaker 2 (26:36):
College athletics is the feeder system for the Olympics in
so many sports.
Speaker 3 (26:41):
So we don't want to be so greedy that we
erode a system that truly has global implications. And then
there's Title nine and gender equity, and we can talk
on and on and on.
Speaker 2 (26:54):
I mean, there are so many things.
Speaker 3 (26:55):
But the reality is, if I had to sum it
up in one sentence, we did a national framework that
is animal and enforcement.
Speaker 2 (27:01):
That's easy, no big deal, that's all we need, easy
to fix.
Speaker 4 (27:07):
So if I had to put on my a investor
hat at or someone who wants to make a donation
to your school, I've see and read what you've raised
over three hundred and seventy five million dollars. My question
is around structure and ri if I'm writing a check
to your school. Now, I'm involved with the w and
the NBA, and we have a CBA and essentially that's
(27:30):
the bible that we live by. We live and die
by these both players and governors. What is your pitch
to me if I'm writing a check, how do I
get in an ROI My concern is there are no rules,
no parameters, and I invest into getting a couple of
players there, and by the time there's sophomore year there
at someone else ano another school competing against us.
Speaker 2 (27:49):
Yeah, it's hard. I mean, I can, I can.
Speaker 3 (27:51):
I can honestly say I understand I truly do understand why,
you know, to ask somebody to support in IL or
to support today's roster, knowing that it could change tomorrow.
And this is why we do need And when I'm
thinking about the national framework, I am thinking about, you know,
how you curtail the transferring and how you we have
not done a good job of telling our story and
(28:12):
showing the ROI. And so for example, you know there
is real there are there's true benefit for a young
person competing in a sport and having the opportunity to
do what they do long term. Long term, the implications
are significant even short term though the like the affinity
that it builds, the visibility of the brand, what it
(28:35):
does for institutions, I do think if you do not
have a built in affinity for the place, that is
not going to be as compelling for you, right especially
because of everything that's happening now with college sports. This
is why I mean the ROI is probably not as
clear to people. It's clear I see it every day here,
(28:58):
but the reality is that we're sort of mimicking professional
sports in some ways and don't have the things that
give the structure that you're talking about, Alex, Right, this
is a problem because we're sort of living in weird spaces.
I person, I know some of my colleagues what would
like to see us have a CBA with mind student
(29:19):
athletes being employees.
Speaker 2 (29:21):
I'm probably not on that page, but I am on.
Speaker 3 (29:23):
The page of wanting structure, because right now it is
hard to your point for me to tell you in
a I think a compelling way why you should give.
I can sit here and tell you all the virtues
of athletics, and that list is long, and I think
we all know what they are. But the problem is
(29:44):
that if we don't insert some stability so I can
show you real outcomes and what happens if a young
person comes in stays. If I can't show you that,
then you're not going to want to give. And that's
just the truth. I think we're different here, of course
I do, but I actually believe it.
Speaker 2 (30:00):
I believe it that Vanderbilding.
Speaker 3 (30:01):
I know what we do with young people, and I
know what the proposition is and we're actually delivering on it.
But we also have kids that transfer out of here,
you know, because there's a bidding war and there's an opportunity,
and so this is.
Speaker 2 (30:14):
About the broader enterprise.
Speaker 3 (30:16):
The broader enterprise is in trouble right now, and no
one in the broader.
Speaker 2 (30:20):
Enterprise, I think, with true awareness can say.
Speaker 3 (30:26):
No, no, no, invest in what this is today because
it shouldn't be what it is today. And so that's
my true answer. You know, that's not I'm not I'm now.
I don't think you're gonna write me a check at
the moment.
Speaker 2 (30:39):
But what I.
Speaker 3 (30:40):
Wanted people to what I've wanted people to see is yeah,
like at Vanderbilt, I feel like we're trying to do
it differently, but the and we are, but the reality
is that this is this is a story that's greater
than Vanderbilt, Like we have to save this enterprise or
young people because I can't bring all the young people here,
you know, like there are a lot of deserving young
people that need opportunities and write now, we're not doing
(31:00):
a good job of showing why why college athletics needs
to be here to stay.
Speaker 2 (31:07):
We're not doing a good job.
Speaker 3 (31:08):
And I you know, sort of compel Congress and others
to help us get to a place where we can
be proud of it.
Speaker 1 (31:16):
Yeah, well, hopefully that will happen, because I think all
three of us love college sports. I love rooting, you know,
it's in it's in my blood from being a Southerner
as you know. And Alex from growing up in the
in the shadow of University of Miami. Super super interesting. Well,
good luck this season. I will definitely be watching and
(31:36):
Vanderbilt it's on the rise you look at you know,
everywhere you turn. Alex, it's in New York Magazine, it's
on the ESPN, it's on the Athletic no matter where
you look, they're kind of the commodores are coming, all right,
can't just really good to spend some time with you.
Thank you so much, so.
Speaker 2 (31:50):
Much, so nice to meet you all. Thank you for
having me.
Speaker 4 (31:52):
Thank you Candas of course.
Speaker 1 (32:01):
The Deal is a production from Bloomberg Podcasts and Bloomberg Originals.
The Deal is hosted by Alex Rodriguez and me Jason Kelly.
This show was produced by Stacy Wong. Our senior producer
is Anna Masarakis. Original music by Blake Maples. Our booker
is Paige Keffer. Our executive producers are Amy Kean, Kelly Leferrier,
and Ashley Zingaro. Our Head of Podcasts is Cheryl Brumley.
(32:25):
Special thanks for Rachel Carnivali, Elena Los Angeles, and Nick Silva.
You can also watch this episode of The Deal on
YouTube and subscribe to the Deal and leave us a
review wherever you get your podcasts. It helps other people
find the show.
Speaker 4 (32:38):
Thanks for listening.
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