September 26, 2025 • 38 mins
Join hosts Michael Barr, Damian Sassower and Vanessa Perdomo for a look at some of the latest headlines and stories in the business of sports.
On this episode, hear from:
- Vanessa Perdomo sits down with NBA player Kyle Kuzma on his latest business ventures
- NBA player Buddy Hield previews the upcoming season and some of his off-the-court ventures
- NBA Commissioner Adam Silver speaks with Jason Kelly on the state of the league and the economic power of the sport
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Episode Transcript
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Speaker 1 (00:00):
Bloomberg Audio Studios, podcasts, radio News. This is the Business
of Sports.
Speaker 2 (00:10):
Sports are the greatest unscripted show owner.
Speaker 3 (00:14):
The next generation of players who really grew up with
tech and believe in tech.
Speaker 4 (00:17):
Your face is your ticket, your face is your wallet,
your face is your access to a club. These are
such iconic and important buildings for businesses. For fans, COVID
was one of the best things that ever happened to go.
Speaker 5 (00:29):
The NFL is a bulletproof business.
Speaker 6 (00:31):
Racing is unique because there is absolutely no reason why
we can't compete with the guys.
Speaker 7 (00:35):
Well, it's pro pickleball?
Speaker 8 (00:36):
Real, are people really going to tune into this?
Speaker 9 (00:38):
If you're playing moneyball with a huge bag of money,
you're going to be really, really good.
Speaker 1 (00:42):
Bloomberg Business of Sports from Bloomberg Radio.
Speaker 7 (00:47):
This is the Bloomberg Business of Sports, where we explore
the big money issues in the world of sports. I'm
Michael Barr, along with my colleagues Damian Sasauur and Vanessa Berdomo.
Coming up on the show. With training camps getting underway,
we'll do a full court press on all things NBA.
We'll hear from NBA Commissioner Adam Silver, who sat down
(01:08):
with The Bloomberg Original's chief correspondent Jason Kelly to talk
the state of the league and the economic power of sports.
Speaker 4 (01:16):
Nelson Mandela famously said, sport has the power to change
the world. I'm almost sure when he said that he
wasn't thinking of change the world from an economic standpoint.
It was more in terms of the spirit of the people.
But now jump ahead all these years to the present,
we're now on a global basis. Sports has become a
(01:36):
trillion dollar sector of the economy.
Speaker 7 (01:39):
Plus, Damian Vanessa and our pal Bloomberg US sports business
reporter Randall Williams speak with Golden State Warrior shooting guard
Buddy Healed to get a preview of the upcoming season
and some of his off the court ventures. That's straight
ahead on the Bloomberg Business of Sports. But we start
with a special conversation I had with Milwaukee Bucks forward
(02:01):
Kyle Kuzma. They sat down at Sports Beach and Ken
France to talk about some of Kuzma's many business ventures.
Let's take a listen to that conversation.
Speaker 10 (02:12):
I want to talk from the beginning, from your entrepreneur journey,
from your business journey. Twenty seventeen or draft into the league,
you start making money, when do those wheels start turning
about how do I save my money? Where do I
invest in? How does that work for you? When from
the start?
Speaker 5 (02:26):
Right away, literally right away?
Speaker 11 (02:28):
And I think that I've been very blessed and grateful
to have a lot of good, positive role models in
my life. And I think maybe not my first check,
My first check was a car, but other than that,
I think my second check went towards a real estate investment.
And I think right from then, you know, I knew
right away, especially as an athlete, you don't have that
(02:49):
much time to play. You know, you may have god
willing ten years, right a lot, especially for us, the
average careers three to four years. So I knew right
away that I had to be smart with my money
because it can go quit, just like our careers.
Speaker 8 (03:03):
So why real estate?
Speaker 10 (03:05):
Why was that the first one?
Speaker 4 (03:07):
Safe?
Speaker 11 (03:08):
Yeah, yeah, the safest thing, you know. I think that
for me, beyond it being safe, it's something that I'm
drawn to.
Speaker 5 (03:16):
I love art, and I think architecture is.
Speaker 11 (03:18):
Something that's huge to me, and I think that, like
I said, beyond the investment aspect, I'm just drawn to properties.
Speaker 10 (03:25):
So the art of like the architecture, that's what you're
looking into when you're looking into.
Speaker 11 (03:29):
Real estate, or sometimes for sure one hundred percent, I
think some of the real estate things I'm doing now intertwined.
Speaker 5 (03:36):
With that art perspective.
Speaker 8 (03:38):
So yeah, yeah, okay.
Speaker 10 (03:40):
So was it a mentor that told you to get
into real estate when you first did it, or was
it just I know this is safe.
Speaker 8 (03:46):
I want to go into a little bit of that.
Speaker 11 (03:49):
But also I have a pretty knowledgeable financial advisor that
really kind of walked me through, you know, what investing
looks like outside of just stocks and bonds and the
stock market, and real estate was obviously one of the
things that he was knowledgeable about to put me into.
And I think that from there, from that little house
(04:10):
in New Jersey that I kind of renovated and flipped
to all the great things I'm doing now, I can
accredit it to that early age, you know, classroom class.
Speaker 10 (04:22):
Then you in twenty twenty one, you co founded the
company Barcode, which is sports during company. Tell us about
that and why you wanted to create something there instead
of joining a being ambassador for an existing company.
Speaker 11 (04:37):
Yeah, I would say I think for that perspective, Prior
to that, you know, I had a bunch of deals
being an ambassador, being influencer, whether it was you know, the
Gatorads of the world and these other drink companies, and
I wanted to do something that was, you know, my
own right. You know, I think a lot of times,
(05:00):
you know, in this space, and especially as an athlete,
you want to be able.
Speaker 5 (05:03):
To call something your own right.
Speaker 11 (05:05):
So, you know, co founding Barcode was one of my
first you know type of venture situations, getting in and
starting a company, and I learned a lot of really
valuable lessons from it. And it's a brand that's been
around for you know, five plus years and removing the chain.
Speaker 10 (05:23):
So yeah, what were those early lessons that you learned
that was different for you than investing in and growing
a business, Like, what were those different things that you learned.
Speaker 11 (05:31):
It's not easy. Yeah, it's definitely not easy. It's a
lot of work that goes into it. And I think
that you know, if you're starting a business, especially as
an athlete or really anybody, it's it's.
Speaker 5 (05:42):
All about being in the weeds.
Speaker 11 (05:44):
It's all about understanding what you're getting yourself into and.
Speaker 5 (05:49):
Trying to learn as much as you can.
Speaker 11 (05:51):
Because especially in like the CpG space, there's so many companies, right,
there's oversaturation in every little instance, right, So what's going
to be the difference between you and somebody else? And
I think that's you know, knowledge in a sense and
learning how to move.
Speaker 10 (06:08):
How do you balance that all being so involved in
your businesses and playing at the same time, How do
you balance all of these different hats that you wear.
Speaker 11 (06:20):
That's a great question. I think I love what I do.
I think I love being an entrepreneur. I love being
a basketball player first and foremost. And I have a
great team around me. I think that's the biggest thing.
If I didn't have a team around me that, you know,
could handle every little thing that I'm doing, I really
(06:40):
wouldn't be nothing, and I would only really be a
basketball player.
Speaker 12 (06:44):
Right.
Speaker 8 (06:44):
So we're in can, which is all about Rose.
Speaker 10 (06:47):
But you have a tequila brand that you're a partner
with costadel so tequila. Tell me about that and how
gun involved.
Speaker 11 (06:54):
Obviously a lot of times we'd like to do things
and have things for our own, right, But I'm a
basketball player and it's a little bit hard to have
my own tequila or have your own tequila. So partnering
with somebody was huge, and Costa del Soul was that
for me. You know, I think for me, it's all
about art and the storytelling of things beyond you know,
(07:17):
just you know, the business avenues that you can kind
of get into.
Speaker 5 (07:22):
And Costello Sol is amazing.
Speaker 11 (07:25):
You know, it's a tequila which I love, you know,
it's my favorite drink. And uh, the storytelling of like
you know, Mexico and tequila.
Speaker 5 (07:34):
And we have an amazing co.
Speaker 11 (07:37):
Founder, which is even Longoria, which is a really really
good personal friend. I really wanted to partner with them
because they know what they're doing, right. I think that's
also a big thing you should always think about when
partnering with brands or getting into things like what's under
the hood.
Speaker 5 (07:54):
You know, there's so many things out there.
Speaker 11 (07:57):
There's so many you know, for instance, ferraris with Honda Engines, right,
so you know, seeing Kasa, seeing where it's been from
you know, year once and now year three is is
amazing and I'm just very very happy to.
Speaker 5 (08:15):
You know, be a part of it.
Speaker 10 (08:16):
Yeah, and so it sounds like that intentionality also partnering
with Eva because of the trust there. Can you talk
about the whenever you go into businesses how you do
intentionally with who you're getting into business with.
Speaker 5 (08:29):
One hundred percent.
Speaker 11 (08:30):
You know, Eva's an amazing woman, amazing businesswoman, entrepreneur in
their own right. And I think that as an athlete,
you know, you want to be around greatness and you
want to surround yourself around successful people. And I think,
you know, even looking at Kasa, beyond Eva, you know,
(08:51):
there's a great infrastructure there, and I think that a
lot of times when you go into partnering and investing,
you know, beyond you know, the glitz and the glamor
of how things look or the packaging, like what's underhood
and who's operating is the most important thing, because if
you don't have that, then all the bells and whistles
are just bells and whistles.
Speaker 10 (09:10):
So another thing that you're obviously very passionate about is fashion,
and your tunnel fits have become some of the most
iconic notorious ever.
Speaker 11 (09:19):
I think I'm in just a much different space now,
you know. I think that fashion for me is something
that like you, like you just said, you just mentioned
that in this interview, like you know that about me,
So I don't really have to you know, overdo it
and overshow it as much, you know what I mean,
you know, because it's not It's never really been something
(09:42):
that's I wanted to show. And you know this is
look at me. You know, it's just I love art,
you know, beyond fashion. You know, art is here, and
then fashion is like a sub sector, right, and you know,
I just needed a break, you know. I think that
if you look at like the fashion industry, you know,
and also within athletes and sports, you know, it's a
(10:03):
great cohesion place and we collide and it's great and
it's great you know, symmetry. But I was just looking
for much more in the fashion space that I wasn't getting.
Speaker 8 (10:16):
And what do you mean by that?
Speaker 11 (10:17):
Well, you know there's so many brands that we wear, right,
it's free marketing for them. It's literally free marketing. I'll
give you a prime example. So you just talked about
tunnel fits and the pink sweater that it wore. That
was huge, that went all over the world. It had
about sixty five million impressions I think. I mean, that
(10:39):
was like the last thing I heard years ago about it.
But I didn't get paid for that, and I wasn't
looking to get paid for that, But that shows you
just the influence of what you know, athletes have with fashion.
Speaker 5 (10:52):
That kind of goes under the rug a little bit, right,
So got.
Speaker 10 (10:55):
We started off the conversation talking about how your first
investment was in real estate, how has it evolved now,
and what your portfolio looking like these days.
Speaker 11 (11:04):
Uh, tremendously from just a single family flip, going from
that to you know, working with multi units into you know,
investing into I mean pretty much ecosystems and resorts. You know,
I partner with a good, great friend of mine access
(11:25):
real estate, and you know, we really try to find
properties and locations that are like, you know, really like
once in a lifetime and things that you really can't touch,
you know what I mean, whether it's PGA National and
Palm Beach Gardens right, the Arizona builtmore that is an
unbelievable property landmark culturally in Arizona. Those are the things
(11:51):
that like I'm really into, you know when I speak
about the art aspect and obviously the investment part that
is also very very important. Those are the things that
I'm really looking into that really really excite me.
Speaker 7 (12:06):
That's Kyle Kuzma forward for the Milwaukee Bucks speaking with
our Vanessa Perdomo at Sport Beach in can France. Up next,
we stick with basketball and we hear from another NBA player,
Buddy Hill of the Golden State Warriors.
Speaker 12 (12:19):
That's been fun.
Speaker 6 (12:20):
You know, those guys are being tremendous to be able
to learn from Steve, Steph, you know, from the front
office to the owners, I mean, to the fan base.
Everybody's being great to work with. I can't speak one.
I can speak wonders of those guys, especially Steph, Dre
and Jimmy. They're opening arms as as as a little brothers,
uh being big brothers to me, and I just can
(12:42):
talk about how much I'm so much impressible their leadership
and how they can go over their day and their
lives and their family, their businesses and how it is.
And they just enjoyed to me.
Speaker 7 (12:52):
Working with You're listening to the Bloomberg Business of Sports
from Bloomberg Radio around the world.
Speaker 1 (13:04):
This is Bloomberg Business of Sports from Bloomberg Radio.
Speaker 7 (13:10):
This is the Bloomberg Business of sports. If we explore
the big money issues in the world of sports. Michael Barr,
we are talking all things NBA today with training camps
just getting underway. My colleagues Damien Sassauer, Vanessa Perdomo and Bloomberg.
US sports business reporter Randall Williams sat down with Golden
State Warriors shooting guard Buddy Healed for a look ahead
(13:33):
to the upcoming NBA season, plus to talk about some
of his business ventures off the court. Let's take a
listen to that conversation.
Speaker 2 (13:42):
You know, what's it like to play with Steph dra Green,
I mean, Jimmy Butler, I mean, what are your chances
this year? Howard?
Speaker 12 (13:48):
Thing's looking It's been. It's been great.
Speaker 6 (13:50):
And just being a being, a being, able to be
a sponge, you know, and open arms. Great organization you know,
of course of what they've done in the past and
when they're and where there's the and the quest that's
still on to get to another championship.
Speaker 12 (14:06):
You know, it's being fun. Uh.
Speaker 6 (14:08):
You know, those guys are being tremendous, just be able
to learn from Steve, Steph, you know, from the front
office and the owners, I mean, uh, to the fan base.
Speaker 12 (14:16):
Everybody's being great to work with.
Speaker 6 (14:18):
I can't speak one, I can speak wonders about those guys,
especially Steph Dre and Jimmy. Uh, they're opening arms as
a as as a little brothers, uh being big brothers
to me, and uh, I just can just talk about
how much I'm so much impressed about their leadership and
how they can go over their day and uh their
lives and their family, their businesses and how they just
(14:40):
and they just enjoyed to be working with.
Speaker 8 (14:43):
But I love how you're saying that.
Speaker 10 (14:44):
You know, you're saying that you're a Sponge and you're
learning so much from them. But you're not new to
this league either, right, You've been You've been in the
league for a while.
Speaker 8 (14:51):
You've played on a bunch of different organizations.
Speaker 10 (14:54):
So how would you compare your experience here and how
you're still able to learn as someone who has been
in the league for a while.
Speaker 6 (15:02):
You know it because it's so crazy, like coming the league,
I've only been on I've been on a few veteran teams.
And I guess when I was in New Orleans, Uh,
when I first get drafted, I was only there for
three months and I got traded a Sacramento. And then
when I get the Sacramento, I was the king of
young team and I was like the oldest on the
team because they found all the older guys. But I
was able to learn from like Zach Brando's George Hill
(15:23):
z Bo, you know. And after Harrison Bonds came around
and I learned from Harrison Bonds how to ta take care
of myself and how to like work and I and
then after that I went to Indiana and it was
just you know, a bunch around a young team again,
but I had a veteran coach at Riccardo out and
after I get traded Philly, and.
Speaker 12 (15:39):
Then after that it was just not there long.
Speaker 6 (15:41):
But I was able to like when I got to
the Warriors, I was able to like just you know,
as I got older, they picked their breeds and see
how they go with him, go by their days and
how they go up with their lives and from the
teacher to carry themselves on the court off the court.
So I was more about the Sponge because you know,
the playing the Warriors, and I'm seeing the Warriors like
you know, like you know, they do everything. You know,
they won four championships. So me coming there is like yo,
(16:03):
like it's something specially with this group, and I want
to get to know what makes them so special?
Speaker 13 (16:08):
Buddy, you have experienced a lot in terms of the
contracts and the business of the NBA. It's changed a
lot over the years. What is the biggest difference between
when you entered the NBA and how it stands today
based on I'd say a couple of collective bargaining agreementstead
have been agree to.
Speaker 6 (16:27):
You sed to learn how to adapt and endure the
contracts and uh, just be smart and hard to like
handle yourself, take care of your money and just set
your money up for the future, you know.
Speaker 12 (16:37):
And as you you.
Speaker 6 (16:39):
Know, come the league, you know, like they reach it,
like you know, like you get to try to get
to the ten year ten years, you know, because ten
years is like full fully insured everything. But like it's
also just managing your money too. And you know, just
you know, because your family, you have, you got the
things you want to do, and you have a lot
of business avengers.
Speaker 12 (16:55):
You want to do and you're trying to find the right.
Speaker 6 (16:56):
Business deal to be And so you can set yourself
life because you know that I was making these texts
and it will not last for long. So just taking courses,
learning from the vet, knowing what's good to go in,
what is not going to and sometimes learning from experience too.
You might go in something that you want to try
and it might not work out, but you learn from
experience the next time that you go in something that
(17:16):
you're more educated and you're more ready for the challenge.
Speaker 2 (17:20):
Buddy, I'd like to ask you a little bit about
what you're doing off the court here, specifically the work
you've done with basketball clinics in places like NASA. I
know your Bohemian you know, Wichita, Kansas. I know you
went there during high school. I believe in California, you know.
Talk to us a little bit about that. You know,
the foundation, you know Hurricane Dorian, you know in twenty nineteen,
you know it hit the Bahamas, all that you did
(17:40):
for that community, talk to us a little bit about
all of that.
Speaker 6 (17:43):
I'm a guy, I'm big on my country, you know,
and I feel that, you know, everybody's investing in everything else,
but I think I'm I'm investing in my country. You know,
it was the Bahamas because I think there there's a
lot of kids that are in need, you know, and
where does it come my pocket or not. I just
hope they're just trying to invest in them and try
to uh help the youth and get back to the
and there was like a hurricane situation where it was
(18:05):
like categoric catastrophic hurricanes where it's damaged to island and uh,
families don't have a chance to get back on their feet,
you know, and just help them with groceries and stuff
like that, the little needs that can like take them
for people with like medical builds stuff that. I just
try to like bench off and help as much as
I can, and especially the youth with basketball. I try
to help out the basketball clinics. I bring bring two
(18:26):
are groups over here every summer they come to Dallas,
I take them over around in America.
Speaker 12 (18:32):
They can play travel basketball.
Speaker 6 (18:33):
And uh, just to get experienced situation they didn't have before.
Speaker 12 (18:39):
Over they're craving and what they want.
Speaker 6 (18:40):
And because I know when I was as little, I
really wanted to like do travel ball. I wanted to, like,
you know, everybody knows America is the goal to come
to do you want to play basketball, So I know
how hard it was for.
Speaker 12 (18:51):
Me to get there.
Speaker 6 (18:52):
So I was just trying to make it just as
easy for those kids to have a chance to pursue
their dreams, you know. And uh, and just ye we
had like eight kids that got scholarship this year. So
hopefully we can keep on building and hopefully I can
expand more in the Bahamas. And my goal is to
the buildiam museums and build career centers to help those kids.
Speaker 12 (19:14):
And where does that you basketball? Where is to education?
Speaker 6 (19:18):
Where does be and doctors, lawyers trying to like kickstart
them to like digging to pursue their dreams.
Speaker 10 (19:24):
I love how you talked about that there and talked
about how when you were little, like you always wanted
to be able to play travel ball, and you want
to do all these things and you're really trying to
give back to the Bahamas now.
Speaker 8 (19:34):
I mean right now in the NBA, we're seeing.
Speaker 10 (19:36):
More international players than we ever have, and you know,
I feel like we're all hoping for a Team World
versus Team USA.
Speaker 8 (19:42):
You know, all start game.
Speaker 10 (19:43):
But in terms of how you grew up and in
terms of growing up with the Bahamas and then coming
to the US for high school, how is your journey
coming from outside the US to becoming an NBA player?
Speaker 12 (19:55):
To me, it's something I always want to do.
Speaker 6 (19:56):
I was always a kid that I always like to
avenge you off, always want to do things my way
and it wasn't be different. And UH always was a
kid that you know, a couple of Bahamas. You have
four hundred thousand people. You know, it's impossible for you
to go to America and play basketball and make it
the MBA because it's not really normal. You had your
Michael Thompson hood, did it, Rick Fox, But if you
look at statistics, it's not really normal, you know. And
(20:17):
I had a lot of people that say, like I'm crazy,
but like Mike crazy, was like I prove myself right
that it can't be done, you know. And it was funny.
Speaker 12 (20:24):
You know.
Speaker 6 (20:24):
I love the journey. I love the grind. I loved
the the.
Speaker 12 (20:28):
Bad days I had. It was more bad than good days.
Speaker 6 (20:31):
But I know that when you figured out, you know,
it's it's always like light the end of the tunnel.
Speaker 12 (20:36):
So I was I was happy. You know.
Speaker 6 (20:38):
My mom I grew up with a household with seven kids,
and my mom was sp very spiritual, and I told
her this is what I wanted to do, and she
supported and she's always been supported all my whole life.
And she was never forceful of to me I couldn't
do things, and UH, and my family always had my back,
you know, and I just wanted to come to America
and I pursue my dreams. And I know when I
did that, I can open up bluggates for more kids
(21:00):
and make them believe that they can be done.
Speaker 13 (21:02):
But with you having the AAU teams and doing the
work that you're doing in the U sports space, you
would have happened.
Speaker 8 (21:08):
You.
Speaker 13 (21:08):
You definitely would have seen the way that basketball culture
has changed since NIL. What is that like comparing to
what it was like when you were in school to
what kids are looking at right now.
Speaker 6 (21:19):
That's a good question, man, because I was just telling
my kids that this summer that the NIL is tremendously
teaged the.
Speaker 12 (21:26):
Whole game, you know.
Speaker 6 (21:27):
And I tell them that they're paying kids now, but
really like they're paying all the kids now because now
it's becoming more of a business, you know. And I
telling them from my AU program, like for my Behaming kids,
I was like, Yo, it's actually much more harder to
get into college basketball. It's it's not easy it used
to be because now like coaches universities, they wanted to
pay all the kids because they everybody for winning, and
(21:49):
we don't win like coaches lose their job like they're
trying to find the best product to be or they're
the best part of that is much more ready and
they want all the kids.
Speaker 12 (21:56):
They're not really coming from the.
Speaker 6 (21:57):
High school unless you're like a five are who four
stars recruit and.
Speaker 12 (22:01):
They're going to try to help the relevue.
Speaker 6 (22:02):
But so it's more harder for international kids to get in.
So you got to be one of one. You gotta
be special. You gotta bring something to the table that
they need because there's a lot of kids in America
that can do the same thing you're doing. So I'm
preaching it every day. So you have to bring something.
You got to be coachable, you gotta be reliable, You
got to bring some type of you gotta bring some
type of energy that that that is replaced, that is
(22:23):
unreplaceable that the coach is like, you know, I need
that kid. So so it's light in the smark under
these kids and Bahamas and U and I think it
can be done. But the NFL, it's changed the whole game.
And uh, but this is where we live in and
uh and it's exciting times and then you can get
paid for being a college student.
Speaker 12 (22:39):
I'm all for it.
Speaker 13 (22:40):
How do you advise, uh, some of these athletes who
can get paid nil money but may not be able
to go to the NBA, Like there's you know, there's
but there are sixty players that are essentially selected in
every NBA draft and even less international players. But there's
a lot of players who stand to make a lot
of money in nil. What do you tell them when
it's like, look like I can make let's say seventy
(23:00):
five thousand dollars a semester and I may not be
able to go to the to the NBA. What is
you how do you advise them?
Speaker 6 (23:07):
Take the money, take the money, take the money and
build yourself.
Speaker 12 (23:12):
Take the money and save the money and build your business.
Speaker 6 (23:14):
Uh, try to take care of your family as much
as you can. Uh, because in reality, if you don't
call us play maximum six years, right, let's say six
years because you know because as jew code and if
you go to jew cod, it's like you have two
years and you said your four years. And if you
can make about the rough free kid can make up
about four hundred five hundreds.
Speaker 12 (23:32):
The better ones makes like a million plus.
Speaker 6 (23:35):
But if you can make in that range and take yourself,
if you look at the business side of it. If
you go to Europe, right, you're not likely to get
a seventy five thousand contract up back unless you're good,
you know. And there's guys that they're still making money.
So like, take advantage of the nil, try to support
you and your family and bill off that, build equity
(23:55):
off that. And that's going to be a crazy cause, kid,
and let's be spending it all about doing all kinds
of crazy things in the.
Speaker 12 (24:01):
Cars and stuff.
Speaker 6 (24:02):
Because it's not worth it, you know, So just invested
in the right way, uh, and just build it, because
if you're spending four years and colleges, most likely you're
not going to make it.
Speaker 2 (24:14):
An MBA, I just want to talk to you for
some of the athletes who have come out of Muhammas,
starting with Michael Thompson. He was the first NBA pick
overall back in the eighties. You know, he played for
the Showtime Lagers. He's a Bohemian, you know, right down
to Isaiah Mobley or Gordon and now DeAndre Ayton and VJ. Edgecombe,
these new young up and comers, right, I mean, are
you in contact with them? Are you in contact with
(24:34):
Bohemian athletes of all like, just what do you guys
all stay in touch? I mean, what's the connection there?
Speaker 6 (24:39):
Yeah, we have a whole group chat in the national team,
so we always tapping in me always, so we're telling
everybody happy birthday. Vj's always calling me. I'm calling him,
checking on him. He actually called me like a couple
of days ago when he's in Philly, you know, just
because I was in Philly and I was like connecting
all the coaches and I tell him to make sure
you'll take care of my little bro.
Speaker 12 (25:00):
I talked to d A all the time, you know.
Speaker 5 (25:01):
Uh.
Speaker 6 (25:01):
And I'm happy with his new his new gig with
the Lakers. I'm excited for him, you know. And we
all say we all family, we brothers and uh because
we always see each other do good and we always
represent the Mhamas and trying to keep Mombas on the map.
Speaker 7 (25:14):
That was Buddy Healed shooting guard for the Golden State
Warriors with my colleagues Damian Sasauur, Vanessa Perdomo, and Bloomberg
US sports business reporter Randall Williams. Up next, we hear
from NBA Commissioner Adam Silver live from the twenty twenty
five Bloomberg Philanthropies Global Forum in New York City. That's
(25:34):
straight ahead on the Bloomberg Business of Sports. I'm Michael Barr.
You are listening to the Bloomberg Business of Sports from
Bloomberg Radio around the world.
Speaker 1 (25:54):
This is Bloomberg Business of Sports from Bloomberg Radio.
Speaker 7 (25:59):
Thanks for joining. I think I saw in the Bloomberg
Business of Sports where we explored the big money issues
in the world of sports.
Speaker 5 (26:04):
Michael Barr.
Speaker 7 (26:05):
Recently, friend of the show, Bloomberg Original's chief correspondent Jason Kelly,
sat down with NBA Commissioner Adam Silver at the twenty
twenty five Bloomberg Philanthropies Global Forum alongside the United Nations
General Assembly in New York to discuss how sports can
be an economic and business catalyst. Let's take a listen.
Speaker 3 (26:27):
This is a room of people who invest and lead,
and I would love for you to help them understand
how sports can be an economic and business catalyst.
Speaker 4 (26:39):
Well, thanks, Jason, and wonderful to see all of you.
You know, Mike Bloomberg began this morning by saying, we're
all here to change the world, and I know you
and I were doing something with a group of African
investors earlier this morning, and many of you aware that
Nelson Mandela famously said sport has the power to change
the world. I'm almost sure when he said that he
(27:01):
wasn't thinking of change the world from an economic standpoint.
It was more in terms of the spirit of the people.
But now jump ahead all these years to the present,
we're now on a global basis. Sports has become a
trillion dollar sector of the economy. And it's because, in
(27:21):
addition to the human connections that come from sports, the
enormous goodwill, the empathy we build from very different cultures,
that it has become an economic engine, and not just
the teams themselves, but for our sport. The arena development, right,
and many of you are familiar with it in the
(27:42):
United States where think of that La Live is really
where it began, where it's not just the arena, but
it's a commercial development, residential, retail, et cetera. And increasingly
going into areas of cities that are in badly need
of investment. And then these teams become anchor tenants and
(28:03):
then often these arenas will have, you know, two hundred
and fifty separate events or so so standalone great businesses
what we were saying earlier today around Africa, for example,
I would say that's one continent where they have not
experienced the level of sport investment as other places in
(28:24):
the world. But on the other hand, I mean, it's
just an amazing data point that the un is estimating
in just twenty five years from now, forty percent of
the young people in the world will live in Africa.
And so we see as the NBA an amazing opportunity
to build the sport there, to build an arena, infrastructure,
(28:46):
and we've now you know, we've credit to David Stern,
my predecessor, who back in two thousand and one said
we need to plant a flag in Africa. We opened
an office in South Africa. You know, we we now
have five offices in Africa, and roughly six years ago
we created a league in Africa called Basketball Africa League
(29:08):
because we saw that opportunity to build the sport and
build economic development as well.
Speaker 3 (29:14):
And so how does that work From this, I'm fascinated
by this nexus of sort of investment and sport and
where the investment opportunities are. You're going to sell franchises
in Africa. I believe we've seen that be a very
successful business here in the United States. You know Claire
whose I was with us, what she and Joe have done,
(29:36):
you know with the nets and the liberty. You know,
these are multi multi billion dollar businesses. Do you see
the potential for multi billion dollar franchises eventually at other
places around the world?
Speaker 4 (29:48):
I do. I mean, I'll come to clearly. In Europe,
for example, well, there are multi billion dollar franchises, you know.
Just return to Africa for a second. I think over time, absolutely,
there's no reason that those franchises shouldn't have the same
global values you see franchise in the United States and
you do in Europe. I would say, in the shorter term,
(30:10):
millions of dollars of value, no question behind these teams.
But a growth investment, right, but a growth investment. So
we have a partnership. Our federation is FEBA, you know,
and so they are partners in Africa. And what we
did in terms of this initial launch of the league,
we took existing clubs and those clubs are playing as
(30:32):
part of this Basketball Africa League. So our plan has
always been once we established that we arena, construction has began.
And in Rwanda, you know, President Kagami in Kagali, we
have a state of the art arena there. Senegal, Johannesburg,
we see enormous opportunity to build additional arenas. And the
thought is now that rather than take these existing clubs
(30:55):
that we are going to market with an opportunity to
sell twelve franchise is twelve newly minted franchises with the
opportunity to build an arena complex with those franchises, again
presuming the arena becomes the anchor tenant for that for
that arena. And then as we talk to other entertainment
(31:19):
properties that a lot of touring acts. If they can
then go to the continent and tour, you know, the
economy's changed, right as opposed to a one off event
in legos or whatever else or into car. If you
can then come and you know, you can tour through
several cities in eighteen thousand person arenas, that changes the
(31:40):
economics for them as well.
Speaker 3 (31:41):
And as you said, these sort of ecosystems that grow
up around the arenas themselves. You know, you think about Alilive,
you think about what you know, we're with Grant Hill
earlier today, the investment that he's doing with Tony Wrestler
and Richard Wrestler down Atlanta around Centennial Yards.
Speaker 5 (31:56):
We've seen it in Milwaukee. Milwaukee is a great event
as well. Let's talk about Europe of late.
Speaker 3 (32:03):
You have been talking a lot about expansion. What does
that look like and how do you that's not sort
of a greenfield situation.
Speaker 5 (32:10):
There are existing teams.
Speaker 3 (32:12):
How do you sort of merge into and create something
that's complementary to the existing infrastructure there.
Speaker 4 (32:18):
Right, So what we're looking at in Europe, again completely
independent from Africa, is that there's a very strong sport
infrastructure there, largely built around soccer, the football obviously they're
called soccer to make it easier, and rugby and other sports.
But basketball is the second most played sport in the
(32:41):
world after soccer, and is highly developed in Europe. I mean,
you know, several of our most recent MVPs our European
you know, think of you know, uh Luka Doncic, right,
you know, you know, Yokich, et cetera. I mean there's
there's a you know, Victor wim Andy, I mean, huge
(33:01):
stars you know coming now out of Europe, and enormous
amount of basketball being played in Europe, and there is.
There are country leagues, and there's something called the euro League,
which is a pan European league, and it's something you know.
I've been with the NBA for over thirty years and
while we're a huge Olympic sport and said enormous development
(33:23):
of players, in some cases more sophisticated development systems than
the United States in terms of developing multi faceted talented players.
From a commercial standpoint, we haven't seen the kind of
development you've seen in particularly the United States. There are
not many state of the art arenas in Europe. It's like,
(33:44):
even for those who were over in Paris last summer
for the Olympics, we have fantastic basketball competition in the
bear se Arena in Paris.
Speaker 12 (33:53):
It was.
Speaker 4 (33:56):
They revitalized it to a certain extent for the Olympics.
But if you're in the industry, everything seems fine if
you're in the seats and watching the competition on the floor,
but it doesn't have the suites, the restaurants, the back
of house room to do larger events. And that's Paris.
Of course, London has the two which has been a
(34:18):
great advancement in Europe, but that arena is now already
old and they're looking at a new development. So we
think there's the opportunity to go in in the major
European capitals again with a joint proposition both arena development,
a multi use facility and all the opportunities around it.
But then too, a little different than Africa, we think
(34:40):
there's opportunity both to create new teams in some cases
take existing franchises. Often in Europe it's they'll think of
it like college sports in the United States.
Speaker 7 (34:50):
You have.
Speaker 4 (34:53):
Soccer paired with other sports, all under the same brand.
Real Madrid has great basketball. FC Barcelona's great basketball, but
of course they're known for their soccer, you know, Albat Berlin.
How you look around Europe. So we're also talking to
some existing clubs about the opportunity to then bring their
teams into this new league, but also in certain markets
(35:15):
create brand new teams.
Speaker 3 (35:16):
All right, so less than a minute to go as
you look out, I mean, is it do you envision
sort of one global league where there is like players
moving around or is it sort of a confederation of
related leagues.
Speaker 4 (35:28):
It's a great question, I think. Initially, I think confederation
is the perfect word. I mean, I can imagine certainly
initially in Europe that for example, we have something we
call the NBA Cup of Mid Season tournament. You could
imagine teams Europe, potentially Africa competing in that tournament. You
possibly could see teams coming into our playoffs top seeds
(35:50):
from other leagues. But over time, I think, for example,
certainly in Europe, as plane travel gets faster, it's sort
of went backwards with the elimination of the concord. But
I'm reading all the time about more opportunities at aviation.
You know, when I think of the flight from New
York to la for example, there's no reason if we
had four teams in Europe, you know, you couldn't travel
(36:11):
play you know, the Knicks or Nets travel to London,
play three four times in Europe, come back home.
Speaker 7 (36:17):
So I think it's very doable in our league. That
was NBA Commissioner Adam Silver on stage at the twenty
twenty five Bloomberg PHILANTHROPYECE Global Form with our very own
Jason Kelly. Jason Kelly is Bloomberg Original Chief correspondent and
co host of the Deal with Alex Rodriguez. Find that
on Apple, Spotify and all your favorite podcast platforms, and
(36:38):
while you're there, find the Bloomberg Business of Sports podcast
and subscribe to that too. Now we focus on the
NBA for the entire show, but we have to mention
at least one big story in the NFL. The New
England Patriots have reached an agreement to sell an eight
percent stake in the NFL franchise at evaluation exceeding nine
(36:58):
billion dollars. Sportico reports the buyers are Sixth Street and
billionaire Dean Metropolis. For insight, Bloomberg Intelligence hosts Paul Sweeney
and Scarlett Foo spoke with sporticos Kurt Battenhausen.
Speaker 9 (37:11):
We've been told that the Patriots are planning on really
putting this money back into the franchise. The Craft family,
led by Robert Craft Jonathan Kraft, owned one hundred percent
of the team before this and will maintain more than
ninety percent of the franchise before this. And so this
is again a way to create some liquidity that can
(37:33):
be again some people take it and use it for
personal use. We've been told the Patriots are going to
put this back into the franchise. And for the Patriots,
the Patriots are more than just an NFL team. They
have of course, Patriot Place around them, one point three
million square feet mixed use residential development that has dining
(37:54):
in retail, shopping, entertainment district. That really set the model
for other teams to follow in the NFL in terms
of mixed use developments.
Speaker 12 (38:05):
So they also own a.
Speaker 9 (38:06):
Major league soccer team, which is not part of this deal,
New England Revolution. They've been searching for a new stadium
for a long time and are trying to do something
in the Boston area at Sporticos.
Speaker 7 (38:18):
Kurt Batnausen speaking with Paul Sweeney and Scarlett Food live
on Bloomberg Radio earlier this week. That does it for
this week's show for my colleagues, Damian Zassauer, Vanessa Perdomo,
and a special thank you to Randall Williams and Jason Kelly.
I'm Michael Barr. Thanks for joining us. Tune in again
next week for the latest on the stories moving big
(38:38):
old money in the world of sports. You're listening to
the Bloomberg Business of Sports and Bloomberg Radio around the world.
Bloomberg Audio Studios, podcasts, radio News. This is the Business
of Sports.
Speaker 2 (00:10):
Sports are the greatest unscripted show owner.
Speaker 3 (00:14):
The next generation of players who really grew up with
tech and believe in tech.
Speaker 4 (00:17):
Your face is your ticket, your face is your wallet,
your face is your access to a club. These are
such iconic and important buildings for businesses. For fans, COVID
was one of the best things that ever happened to go.
Speaker 5 (00:29):
The NFL is a bulletproof business.
Speaker 6 (00:31):
Racing is unique because there is absolutely no reason why
we can't compete with the guys.
Speaker 7 (00:35):
Well, it's pro pickleball?
Speaker 8 (00:36):
Real, are people really going to tune into this?
Speaker 9 (00:38):
If you're playing moneyball with a huge bag of money,
you're going to be really, really good.
Speaker 1 (00:42):
Bloomberg Business of Sports from Bloomberg Radio.
Speaker 7 (00:47):
This is the Bloomberg Business of Sports, where we explore
the big money issues in the world of sports. I'm
Michael Barr, along with my colleagues Damian Sasauur and Vanessa Berdomo.
Coming up on the show. With training camps getting underway,
we'll do a full court press on all things NBA.
We'll hear from NBA Commissioner Adam Silver, who sat down
(01:08):
with The Bloomberg Original's chief correspondent Jason Kelly to talk
the state of the league and the economic power of sports.
Speaker 4 (01:16):
Nelson Mandela famously said, sport has the power to change
the world. I'm almost sure when he said that he
wasn't thinking of change the world from an economic standpoint.
It was more in terms of the spirit of the people.
But now jump ahead all these years to the present,
we're now on a global basis. Sports has become a
(01:36):
trillion dollar sector of the economy.
Speaker 7 (01:39):
Plus, Damian Vanessa and our pal Bloomberg US sports business
reporter Randall Williams speak with Golden State Warrior shooting guard
Buddy Healed to get a preview of the upcoming season
and some of his off the court ventures. That's straight
ahead on the Bloomberg Business of Sports. But we start
with a special conversation I had with Milwaukee Bucks forward
(02:01):
Kyle Kuzma. They sat down at Sports Beach and Ken
France to talk about some of Kuzma's many business ventures.
Let's take a listen to that conversation.
Speaker 10 (02:12):
I want to talk from the beginning, from your entrepreneur journey,
from your business journey. Twenty seventeen or draft into the league,
you start making money, when do those wheels start turning
about how do I save my money? Where do I
invest in? How does that work for you? When from
the start?
Speaker 5 (02:26):
Right away, literally right away?
Speaker 11 (02:28):
And I think that I've been very blessed and grateful
to have a lot of good, positive role models in
my life. And I think maybe not my first check,
My first check was a car, but other than that,
I think my second check went towards a real estate investment.
And I think right from then, you know, I knew
right away, especially as an athlete, you don't have that
(02:49):
much time to play. You know, you may have god
willing ten years, right a lot, especially for us, the
average careers three to four years. So I knew right
away that I had to be smart with my money
because it can go quit, just like our careers.
Speaker 8 (03:03):
So why real estate?
Speaker 10 (03:05):
Why was that the first one?
Speaker 4 (03:07):
Safe?
Speaker 11 (03:08):
Yeah, yeah, the safest thing, you know. I think that
for me, beyond it being safe, it's something that I'm
drawn to.
Speaker 5 (03:16):
I love art, and I think architecture is.
Speaker 11 (03:18):
Something that's huge to me, and I think that, like
I said, beyond the investment aspect, I'm just drawn to properties.
Speaker 10 (03:25):
So the art of like the architecture, that's what you're
looking into when you're looking into.
Speaker 11 (03:29):
Real estate, or sometimes for sure one hundred percent, I
think some of the real estate things I'm doing now intertwined.
Speaker 5 (03:36):
With that art perspective.
Speaker 8 (03:38):
So yeah, yeah, okay.
Speaker 10 (03:40):
So was it a mentor that told you to get
into real estate when you first did it, or was
it just I know this is safe.
Speaker 8 (03:46):
I want to go into a little bit of that.
Speaker 11 (03:49):
But also I have a pretty knowledgeable financial advisor that
really kind of walked me through, you know, what investing
looks like outside of just stocks and bonds and the
stock market, and real estate was obviously one of the
things that he was knowledgeable about to put me into.
And I think that from there, from that little house
(04:10):
in New Jersey that I kind of renovated and flipped
to all the great things I'm doing now, I can
accredit it to that early age, you know, classroom class.
Speaker 10 (04:22):
Then you in twenty twenty one, you co founded the
company Barcode, which is sports during company. Tell us about
that and why you wanted to create something there instead
of joining a being ambassador for an existing company.
Speaker 11 (04:37):
Yeah, I would say I think for that perspective, Prior
to that, you know, I had a bunch of deals
being an ambassador, being influencer, whether it was you know, the
Gatorads of the world and these other drink companies, and
I wanted to do something that was, you know, my
own right. You know, I think a lot of times,
(05:00):
you know, in this space, and especially as an athlete,
you want to be able.
Speaker 5 (05:03):
To call something your own right.
Speaker 11 (05:05):
So, you know, co founding Barcode was one of my
first you know type of venture situations, getting in and
starting a company, and I learned a lot of really
valuable lessons from it. And it's a brand that's been
around for you know, five plus years and removing the chain.
Speaker 10 (05:23):
So yeah, what were those early lessons that you learned
that was different for you than investing in and growing
a business, Like, what were those different things that you learned.
Speaker 11 (05:31):
It's not easy. Yeah, it's definitely not easy. It's a
lot of work that goes into it. And I think
that you know, if you're starting a business, especially as
an athlete or really anybody, it's it's.
Speaker 5 (05:42):
All about being in the weeds.
Speaker 11 (05:44):
It's all about understanding what you're getting yourself into and.
Speaker 5 (05:49):
Trying to learn as much as you can.
Speaker 11 (05:51):
Because especially in like the CpG space, there's so many companies, right,
there's oversaturation in every little instance, right, So what's going
to be the difference between you and somebody else? And
I think that's you know, knowledge in a sense and
learning how to move.
Speaker 10 (06:08):
How do you balance that all being so involved in
your businesses and playing at the same time, How do
you balance all of these different hats that you wear.
Speaker 11 (06:20):
That's a great question. I think I love what I do.
I think I love being an entrepreneur. I love being
a basketball player first and foremost. And I have a
great team around me. I think that's the biggest thing.
If I didn't have a team around me that, you know,
could handle every little thing that I'm doing, I really
(06:40):
wouldn't be nothing, and I would only really be a
basketball player.
Speaker 12 (06:44):
Right.
Speaker 8 (06:44):
So we're in can, which is all about Rose.
Speaker 10 (06:47):
But you have a tequila brand that you're a partner
with costadel so tequila. Tell me about that and how
gun involved.
Speaker 11 (06:54):
Obviously a lot of times we'd like to do things
and have things for our own, right, But I'm a
basketball player and it's a little bit hard to have
my own tequila or have your own tequila. So partnering
with somebody was huge, and Costa del Soul was that
for me. You know, I think for me, it's all
about art and the storytelling of things beyond you know,
(07:17):
just you know, the business avenues that you can kind
of get into.
Speaker 5 (07:22):
And Costello Sol is amazing.
Speaker 11 (07:25):
You know, it's a tequila which I love, you know,
it's my favorite drink. And uh, the storytelling of like
you know, Mexico and tequila.
Speaker 5 (07:34):
And we have an amazing co.
Speaker 11 (07:37):
Founder, which is even Longoria, which is a really really
good personal friend. I really wanted to partner with them
because they know what they're doing, right. I think that's
also a big thing you should always think about when
partnering with brands or getting into things like what's under
the hood.
Speaker 5 (07:54):
You know, there's so many things out there.
Speaker 11 (07:57):
There's so many you know, for instance, ferraris with Honda Engines, right,
so you know, seeing Kasa, seeing where it's been from
you know, year once and now year three is is
amazing and I'm just very very happy to.
Speaker 5 (08:15):
You know, be a part of it.
Speaker 10 (08:16):
Yeah, and so it sounds like that intentionality also partnering
with Eva because of the trust there. Can you talk
about the whenever you go into businesses how you do
intentionally with who you're getting into business with.
Speaker 5 (08:29):
One hundred percent.
Speaker 11 (08:30):
You know, Eva's an amazing woman, amazing businesswoman, entrepreneur in
their own right. And I think that as an athlete,
you know, you want to be around greatness and you
want to surround yourself around successful people. And I think,
you know, even looking at Kasa, beyond Eva, you know,
(08:51):
there's a great infrastructure there, and I think that a
lot of times when you go into partnering and investing,
you know, beyond you know, the glitz and the glamor
of how things look or the packaging, like what's underhood
and who's operating is the most important thing, because if
you don't have that, then all the bells and whistles
are just bells and whistles.
Speaker 10 (09:10):
So another thing that you're obviously very passionate about is fashion,
and your tunnel fits have become some of the most
iconic notorious ever.
Speaker 11 (09:19):
I think I'm in just a much different space now,
you know. I think that fashion for me is something
that like you, like you just said, you just mentioned
that in this interview, like you know that about me,
So I don't really have to you know, overdo it
and overshow it as much, you know what I mean,
you know, because it's not It's never really been something
(09:42):
that's I wanted to show. And you know this is
look at me. You know, it's just I love art,
you know, beyond fashion. You know, art is here, and
then fashion is like a sub sector, right, and you know,
I just needed a break, you know. I think that
if you look at like the fashion industry, you know,
and also within athletes and sports, you know, it's a
(10:03):
great cohesion place and we collide and it's great and
it's great you know, symmetry. But I was just looking
for much more in the fashion space that I wasn't getting.
Speaker 8 (10:16):
And what do you mean by that?
Speaker 11 (10:17):
Well, you know there's so many brands that we wear, right,
it's free marketing for them. It's literally free marketing. I'll
give you a prime example. So you just talked about
tunnel fits and the pink sweater that it wore. That
was huge, that went all over the world. It had
about sixty five million impressions I think. I mean, that
(10:39):
was like the last thing I heard years ago about it.
But I didn't get paid for that, and I wasn't
looking to get paid for that, But that shows you
just the influence of what you know, athletes have with fashion.
Speaker 5 (10:52):
That kind of goes under the rug a little bit, right,
So got.
Speaker 10 (10:55):
We started off the conversation talking about how your first
investment was in real estate, how has it evolved now,
and what your portfolio looking like these days.
Speaker 11 (11:04):
Uh, tremendously from just a single family flip, going from
that to you know, working with multi units into you know,
investing into I mean pretty much ecosystems and resorts. You know,
I partner with a good, great friend of mine access
(11:25):
real estate, and you know, we really try to find
properties and locations that are like, you know, really like
once in a lifetime and things that you really can't touch,
you know what I mean, whether it's PGA National and
Palm Beach Gardens right, the Arizona builtmore that is an
unbelievable property landmark culturally in Arizona. Those are the things
(11:51):
that like I'm really into, you know when I speak
about the art aspect and obviously the investment part that
is also very very important. Those are the things that
I'm really looking into that really really excite me.
Speaker 7 (12:06):
That's Kyle Kuzma forward for the Milwaukee Bucks speaking with
our Vanessa Perdomo at Sport Beach in can France. Up next,
we stick with basketball and we hear from another NBA player,
Buddy Hill of the Golden State Warriors.
Speaker 12 (12:19):
That's been fun.
Speaker 6 (12:20):
You know, those guys are being tremendous to be able
to learn from Steve, Steph, you know, from the front
office to the owners, I mean, to the fan base.
Everybody's being great to work with. I can't speak one.
I can speak wonders of those guys, especially Steph, Dre
and Jimmy. They're opening arms as as as a little brothers,
uh being big brothers to me, and I just can
(12:42):
talk about how much I'm so much impressible their leadership
and how they can go over their day and their
lives and their family, their businesses and how it is.
And they just enjoyed to me.
Speaker 7 (12:52):
Working with You're listening to the Bloomberg Business of Sports
from Bloomberg Radio around the world.
Speaker 1 (13:04):
This is Bloomberg Business of Sports from Bloomberg Radio.
Speaker 7 (13:10):
This is the Bloomberg Business of sports. If we explore
the big money issues in the world of sports. Michael Barr,
we are talking all things NBA today with training camps
just getting underway. My colleagues Damien Sassauer, Vanessa Perdomo and Bloomberg.
US sports business reporter Randall Williams sat down with Golden
State Warriors shooting guard Buddy Healed for a look ahead
(13:33):
to the upcoming NBA season, plus to talk about some
of his business ventures off the court. Let's take a
listen to that conversation.
Speaker 2 (13:42):
You know, what's it like to play with Steph dra Green,
I mean, Jimmy Butler, I mean, what are your chances
this year? Howard?
Speaker 12 (13:48):
Thing's looking It's been. It's been great.
Speaker 6 (13:50):
And just being a being, a being, able to be
a sponge, you know, and open arms. Great organization you know,
of course of what they've done in the past and
when they're and where there's the and the quest that's
still on to get to another championship.
Speaker 12 (14:06):
You know, it's being fun. Uh.
Speaker 6 (14:08):
You know, those guys are being tremendous, just be able
to learn from Steve, Steph, you know, from the front
office and the owners, I mean, uh, to the fan base.
Speaker 12 (14:16):
Everybody's being great to work with.
Speaker 6 (14:18):
I can't speak one, I can speak wonders about those guys,
especially Steph Dre and Jimmy. Uh, they're opening arms as
a as as a little brothers, uh being big brothers
to me, and uh, I just can just talk about
how much I'm so much impressed about their leadership and
how they can go over their day and uh their
lives and their family, their businesses and how they just
(14:40):
and they just enjoyed to be working with.
Speaker 8 (14:43):
But I love how you're saying that.
Speaker 10 (14:44):
You know, you're saying that you're a Sponge and you're
learning so much from them. But you're not new to
this league either, right, You've been You've been in the
league for a while.
Speaker 8 (14:51):
You've played on a bunch of different organizations.
Speaker 10 (14:54):
So how would you compare your experience here and how
you're still able to learn as someone who has been
in the league for a while.
Speaker 6 (15:02):
You know it because it's so crazy, like coming the league,
I've only been on I've been on a few veteran teams.
And I guess when I was in New Orleans, Uh,
when I first get drafted, I was only there for
three months and I got traded a Sacramento. And then
when I get the Sacramento, I was the king of
young team and I was like the oldest on the
team because they found all the older guys. But I
was able to learn from like Zach Brando's George Hill
(15:23):
z Bo, you know. And after Harrison Bonds came around
and I learned from Harrison Bonds how to ta take care
of myself and how to like work and I and
then after that I went to Indiana and it was
just you know, a bunch around a young team again,
but I had a veteran coach at Riccardo out and
after I get traded Philly, and.
Speaker 12 (15:39):
Then after that it was just not there long.
Speaker 6 (15:41):
But I was able to like when I got to
the Warriors, I was able to like just you know,
as I got older, they picked their breeds and see
how they go with him, go by their days and
how they go up with their lives and from the
teacher to carry themselves on the court off the court.
So I was more about the Sponge because you know,
the playing the Warriors, and I'm seeing the Warriors like
you know, like you know, they do everything. You know,
they won four championships. So me coming there is like yo,
(16:03):
like it's something specially with this group, and I want
to get to know what makes them so special?
Speaker 13 (16:08):
Buddy, you have experienced a lot in terms of the
contracts and the business of the NBA. It's changed a
lot over the years. What is the biggest difference between
when you entered the NBA and how it stands today
based on I'd say a couple of collective bargaining agreementstead
have been agree to.
Speaker 6 (16:27):
You sed to learn how to adapt and endure the
contracts and uh, just be smart and hard to like
handle yourself, take care of your money and just set
your money up for the future, you know.
Speaker 12 (16:37):
And as you you.
Speaker 6 (16:39):
Know, come the league, you know, like they reach it,
like you know, like you get to try to get
to the ten year ten years, you know, because ten
years is like full fully insured everything. But like it's
also just managing your money too. And you know, just
you know, because your family, you have, you got the
things you want to do, and you have a lot
of business avengers.
Speaker 12 (16:55):
You want to do and you're trying to find the right.
Speaker 6 (16:56):
Business deal to be And so you can set yourself
life because you know that I was making these texts
and it will not last for long. So just taking courses,
learning from the vet, knowing what's good to go in,
what is not going to and sometimes learning from experience too.
You might go in something that you want to try
and it might not work out, but you learn from
experience the next time that you go in something that
(17:16):
you're more educated and you're more ready for the challenge.
Speaker 2 (17:20):
Buddy, I'd like to ask you a little bit about
what you're doing off the court here, specifically the work
you've done with basketball clinics in places like NASA. I
know your Bohemian you know, Wichita, Kansas. I know you
went there during high school. I believe in California, you know.
Talk to us a little bit about that. You know,
the foundation, you know Hurricane Dorian, you know in twenty nineteen,
you know it hit the Bahamas, all that you did
(17:40):
for that community, talk to us a little bit about
all of that.
Speaker 6 (17:43):
I'm a guy, I'm big on my country, you know,
and I feel that, you know, everybody's investing in everything else,
but I think I'm I'm investing in my country. You know,
it was the Bahamas because I think there there's a
lot of kids that are in need, you know, and
where does it come my pocket or not. I just
hope they're just trying to invest in them and try
to uh help the youth and get back to the
and there was like a hurricane situation where it was
(18:05):
like categoric catastrophic hurricanes where it's damaged to island and uh,
families don't have a chance to get back on their feet,
you know, and just help them with groceries and stuff
like that, the little needs that can like take them
for people with like medical builds stuff that. I just
try to like bench off and help as much as
I can, and especially the youth with basketball. I try
to help out the basketball clinics. I bring bring two
(18:26):
are groups over here every summer they come to Dallas,
I take them over around in America.
Speaker 12 (18:32):
They can play travel basketball.
Speaker 6 (18:33):
And uh, just to get experienced situation they didn't have before.
Speaker 12 (18:39):
Over they're craving and what they want.
Speaker 6 (18:40):
And because I know when I was as little, I
really wanted to like do travel ball. I wanted to, like,
you know, everybody knows America is the goal to come
to do you want to play basketball, So I know
how hard it was for.
Speaker 12 (18:51):
Me to get there.
Speaker 6 (18:52):
So I was just trying to make it just as
easy for those kids to have a chance to pursue
their dreams, you know. And uh, and just ye we
had like eight kids that got scholarship this year. So
hopefully we can keep on building and hopefully I can
expand more in the Bahamas. And my goal is to
the buildiam museums and build career centers to help those kids.
Speaker 12 (19:14):
And where does that you basketball? Where is to education?
Speaker 6 (19:18):
Where does be and doctors, lawyers trying to like kickstart
them to like digging to pursue their dreams.
Speaker 10 (19:24):
I love how you talked about that there and talked
about how when you were little, like you always wanted
to be able to play travel ball, and you want
to do all these things and you're really trying to
give back to the Bahamas now.
Speaker 8 (19:34):
I mean right now in the NBA, we're seeing.
Speaker 10 (19:36):
More international players than we ever have, and you know,
I feel like we're all hoping for a Team World
versus Team USA.
Speaker 8 (19:42):
You know, all start game.
Speaker 10 (19:43):
But in terms of how you grew up and in
terms of growing up with the Bahamas and then coming
to the US for high school, how is your journey
coming from outside the US to becoming an NBA player?
Speaker 12 (19:55):
To me, it's something I always want to do.
Speaker 6 (19:56):
I was always a kid that I always like to
avenge you off, always want to do things my way
and it wasn't be different. And UH always was a
kid that you know, a couple of Bahamas. You have
four hundred thousand people. You know, it's impossible for you
to go to America and play basketball and make it
the MBA because it's not really normal. You had your
Michael Thompson hood, did it, Rick Fox, But if you
look at statistics, it's not really normal, you know. And
(20:17):
I had a lot of people that say, like I'm crazy,
but like Mike crazy, was like I prove myself right
that it can't be done, you know. And it was funny.
Speaker 12 (20:24):
You know.
Speaker 6 (20:24):
I love the journey. I love the grind. I loved
the the.
Speaker 12 (20:28):
Bad days I had. It was more bad than good days.
Speaker 6 (20:31):
But I know that when you figured out, you know,
it's it's always like light the end of the tunnel.
Speaker 12 (20:36):
So I was I was happy. You know.
Speaker 6 (20:38):
My mom I grew up with a household with seven kids,
and my mom was sp very spiritual, and I told
her this is what I wanted to do, and she
supported and she's always been supported all my whole life.
And she was never forceful of to me I couldn't
do things, and UH, and my family always had my back,
you know, and I just wanted to come to America
and I pursue my dreams. And I know when I
did that, I can open up bluggates for more kids
(21:00):
and make them believe that they can be done.
Speaker 13 (21:02):
But with you having the AAU teams and doing the
work that you're doing in the U sports space, you
would have happened.
Speaker 8 (21:08):
You.
Speaker 13 (21:08):
You definitely would have seen the way that basketball culture
has changed since NIL. What is that like comparing to
what it was like when you were in school to
what kids are looking at right now.
Speaker 6 (21:19):
That's a good question, man, because I was just telling
my kids that this summer that the NIL is tremendously
teaged the.
Speaker 12 (21:26):
Whole game, you know.
Speaker 6 (21:27):
And I tell them that they're paying kids now, but
really like they're paying all the kids now because now
it's becoming more of a business, you know. And I
telling them from my AU program, like for my Behaming kids,
I was like, Yo, it's actually much more harder to
get into college basketball. It's it's not easy it used
to be because now like coaches universities, they wanted to
pay all the kids because they everybody for winning, and
(21:49):
we don't win like coaches lose their job like they're
trying to find the best product to be or they're
the best part of that is much more ready and
they want all the kids.
Speaker 12 (21:56):
They're not really coming from the.
Speaker 6 (21:57):
High school unless you're like a five are who four
stars recruit and.
Speaker 12 (22:01):
They're going to try to help the relevue.
Speaker 6 (22:02):
But so it's more harder for international kids to get in.
So you got to be one of one. You gotta
be special. You gotta bring something to the table that
they need because there's a lot of kids in America
that can do the same thing you're doing. So I'm
preaching it every day. So you have to bring something.
You got to be coachable, you gotta be reliable, You
got to bring some type of you gotta bring some
type of energy that that that is replaced, that is
(22:23):
unreplaceable that the coach is like, you know, I need
that kid. So so it's light in the smark under
these kids and Bahamas and U and I think it
can be done. But the NFL, it's changed the whole game.
And uh, but this is where we live in and
uh and it's exciting times and then you can get
paid for being a college student.
Speaker 12 (22:39):
I'm all for it.
Speaker 13 (22:40):
How do you advise, uh, some of these athletes who
can get paid nil money but may not be able
to go to the NBA, Like there's you know, there's
but there are sixty players that are essentially selected in
every NBA draft and even less international players. But there's
a lot of players who stand to make a lot
of money in nil. What do you tell them when
it's like, look like I can make let's say seventy
(23:00):
five thousand dollars a semester and I may not be
able to go to the to the NBA. What is
you how do you advise them?
Speaker 6 (23:07):
Take the money, take the money, take the money and
build yourself.
Speaker 12 (23:12):
Take the money and save the money and build your business.
Speaker 6 (23:14):
Uh, try to take care of your family as much
as you can. Uh, because in reality, if you don't
call us play maximum six years, right, let's say six
years because you know because as jew code and if
you go to jew cod, it's like you have two
years and you said your four years. And if you
can make about the rough free kid can make up
about four hundred five hundreds.
Speaker 12 (23:32):
The better ones makes like a million plus.
Speaker 6 (23:35):
But if you can make in that range and take yourself,
if you look at the business side of it. If
you go to Europe, right, you're not likely to get
a seventy five thousand contract up back unless you're good,
you know. And there's guys that they're still making money.
So like, take advantage of the nil, try to support
you and your family and bill off that, build equity
(23:55):
off that. And that's going to be a crazy cause, kid,
and let's be spending it all about doing all kinds
of crazy things in the.
Speaker 12 (24:01):
Cars and stuff.
Speaker 6 (24:02):
Because it's not worth it, you know, So just invested
in the right way, uh, and just build it, because
if you're spending four years and colleges, most likely you're
not going to make it.
Speaker 2 (24:14):
An MBA, I just want to talk to you for
some of the athletes who have come out of Muhammas,
starting with Michael Thompson. He was the first NBA pick
overall back in the eighties. You know, he played for
the Showtime Lagers. He's a Bohemian, you know, right down
to Isaiah Mobley or Gordon and now DeAndre Ayton and VJ. Edgecombe,
these new young up and comers, right, I mean, are
you in contact with them? Are you in contact with
(24:34):
Bohemian athletes of all like, just what do you guys
all stay in touch? I mean, what's the connection there?
Speaker 6 (24:39):
Yeah, we have a whole group chat in the national team,
so we always tapping in me always, so we're telling
everybody happy birthday. Vj's always calling me. I'm calling him,
checking on him. He actually called me like a couple
of days ago when he's in Philly, you know, just
because I was in Philly and I was like connecting
all the coaches and I tell him to make sure
you'll take care of my little bro.
Speaker 12 (25:00):
I talked to d A all the time, you know.
Speaker 5 (25:01):
Uh.
Speaker 6 (25:01):
And I'm happy with his new his new gig with
the Lakers. I'm excited for him, you know. And we
all say we all family, we brothers and uh because
we always see each other do good and we always
represent the Mhamas and trying to keep Mombas on the map.
Speaker 7 (25:14):
That was Buddy Healed shooting guard for the Golden State
Warriors with my colleagues Damian Sasauur, Vanessa Perdomo, and Bloomberg
US sports business reporter Randall Williams. Up next, we hear
from NBA Commissioner Adam Silver live from the twenty twenty
five Bloomberg Philanthropies Global Forum in New York City. That's
(25:34):
straight ahead on the Bloomberg Business of Sports. I'm Michael Barr.
You are listening to the Bloomberg Business of Sports from
Bloomberg Radio around the world.
Speaker 1 (25:54):
This is Bloomberg Business of Sports from Bloomberg Radio.
Speaker 7 (25:59):
Thanks for joining. I think I saw in the Bloomberg
Business of Sports where we explored the big money issues
in the world of sports.
Speaker 5 (26:04):
Michael Barr.
Speaker 7 (26:05):
Recently, friend of the show, Bloomberg Original's chief correspondent Jason Kelly,
sat down with NBA Commissioner Adam Silver at the twenty
twenty five Bloomberg Philanthropies Global Forum alongside the United Nations
General Assembly in New York to discuss how sports can
be an economic and business catalyst. Let's take a listen.
Speaker 3 (26:27):
This is a room of people who invest and lead,
and I would love for you to help them understand
how sports can be an economic and business catalyst.
Speaker 4 (26:39):
Well, thanks, Jason, and wonderful to see all of you.
You know, Mike Bloomberg began this morning by saying, we're
all here to change the world, and I know you
and I were doing something with a group of African
investors earlier this morning, and many of you aware that
Nelson Mandela famously said sport has the power to change
the world. I'm almost sure when he said that he
(27:01):
wasn't thinking of change the world from an economic standpoint.
It was more in terms of the spirit of the people.
But now jump ahead all these years to the present,
we're now on a global basis. Sports has become a
trillion dollar sector of the economy. And it's because, in
(27:21):
addition to the human connections that come from sports, the
enormous goodwill, the empathy we build from very different cultures,
that it has become an economic engine, and not just
the teams themselves, but for our sport. The arena development, right,
and many of you are familiar with it in the
(27:42):
United States where think of that La Live is really
where it began, where it's not just the arena, but
it's a commercial development, residential, retail, et cetera. And increasingly
going into areas of cities that are in badly need
of investment. And then these teams become anchor tenants and
(28:03):
then often these arenas will have, you know, two hundred
and fifty separate events or so so standalone great businesses
what we were saying earlier today around Africa, for example,
I would say that's one continent where they have not
experienced the level of sport investment as other places in
(28:24):
the world. But on the other hand, I mean, it's
just an amazing data point that the un is estimating
in just twenty five years from now, forty percent of
the young people in the world will live in Africa.
And so we see as the NBA an amazing opportunity
to build the sport there, to build an arena, infrastructure,
(28:46):
and we've now you know, we've credit to David Stern,
my predecessor, who back in two thousand and one said
we need to plant a flag in Africa. We opened
an office in South Africa. You know, we we now
have five offices in Africa, and roughly six years ago
we created a league in Africa called Basketball Africa League
(29:08):
because we saw that opportunity to build the sport and
build economic development as well.
Speaker 3 (29:14):
And so how does that work From this, I'm fascinated
by this nexus of sort of investment and sport and
where the investment opportunities are. You're going to sell franchises
in Africa. I believe we've seen that be a very
successful business here in the United States. You know Claire
whose I was with us, what she and Joe have done,
(29:36):
you know with the nets and the liberty. You know,
these are multi multi billion dollar businesses. Do you see
the potential for multi billion dollar franchises eventually at other
places around the world?
Speaker 4 (29:48):
I do. I mean, I'll come to clearly. In Europe,
for example, well, there are multi billion dollar franchises, you know.
Just return to Africa for a second. I think over time, absolutely,
there's no reason that those franchises shouldn't have the same
global values you see franchise in the United States and
you do in Europe. I would say, in the shorter term,
(30:10):
millions of dollars of value, no question behind these teams.
But a growth investment, right, but a growth investment. So
we have a partnership. Our federation is FEBA, you know,
and so they are partners in Africa. And what we
did in terms of this initial launch of the league,
we took existing clubs and those clubs are playing as
(30:32):
part of this Basketball Africa League. So our plan has
always been once we established that we arena, construction has began.
And in Rwanda, you know, President Kagami in Kagali, we
have a state of the art arena there. Senegal, Johannesburg,
we see enormous opportunity to build additional arenas. And the
thought is now that rather than take these existing clubs
(30:55):
that we are going to market with an opportunity to
sell twelve franchise is twelve newly minted franchises with the
opportunity to build an arena complex with those franchises, again
presuming the arena becomes the anchor tenant for that for
that arena. And then as we talk to other entertainment
(31:19):
properties that a lot of touring acts. If they can
then go to the continent and tour, you know, the
economy's changed, right as opposed to a one off event
in legos or whatever else or into car. If you
can then come and you know, you can tour through
several cities in eighteen thousand person arenas, that changes the
(31:40):
economics for them as well.
Speaker 3 (31:41):
And as you said, these sort of ecosystems that grow
up around the arenas themselves. You know, you think about Alilive,
you think about what you know, we're with Grant Hill
earlier today, the investment that he's doing with Tony Wrestler
and Richard Wrestler down Atlanta around Centennial Yards.
Speaker 5 (31:56):
We've seen it in Milwaukee. Milwaukee is a great event
as well. Let's talk about Europe of late.
Speaker 3 (32:03):
You have been talking a lot about expansion. What does
that look like and how do you that's not sort
of a greenfield situation.
Speaker 5 (32:10):
There are existing teams.
Speaker 3 (32:12):
How do you sort of merge into and create something
that's complementary to the existing infrastructure there.
Speaker 4 (32:18):
Right, So what we're looking at in Europe, again completely
independent from Africa, is that there's a very strong sport
infrastructure there, largely built around soccer, the football obviously they're
called soccer to make it easier, and rugby and other sports.
But basketball is the second most played sport in the
(32:41):
world after soccer, and is highly developed in Europe. I mean,
you know, several of our most recent MVPs our European
you know, think of you know, uh Luka Doncic, right,
you know, you know, Yokich, et cetera. I mean there's
there's a you know, Victor wim Andy, I mean, huge
(33:01):
stars you know coming now out of Europe, and enormous
amount of basketball being played in Europe, and there is.
There are country leagues, and there's something called the euro League,
which is a pan European league, and it's something you know.
I've been with the NBA for over thirty years and
while we're a huge Olympic sport and said enormous development
(33:23):
of players, in some cases more sophisticated development systems than
the United States in terms of developing multi faceted talented players.
From a commercial standpoint, we haven't seen the kind of
development you've seen in particularly the United States. There are
not many state of the art arenas in Europe. It's like,
(33:44):
even for those who were over in Paris last summer
for the Olympics, we have fantastic basketball competition in the
bear se Arena in Paris.
Speaker 12 (33:53):
It was.
Speaker 4 (33:56):
They revitalized it to a certain extent for the Olympics.
But if you're in the industry, everything seems fine if
you're in the seats and watching the competition on the floor,
but it doesn't have the suites, the restaurants, the back
of house room to do larger events. And that's Paris.
Of course, London has the two which has been a
(34:18):
great advancement in Europe, but that arena is now already
old and they're looking at a new development. So we
think there's the opportunity to go in in the major
European capitals again with a joint proposition both arena development,
a multi use facility and all the opportunities around it.
But then too, a little different than Africa, we think
(34:40):
there's opportunity both to create new teams in some cases
take existing franchises. Often in Europe it's they'll think of
it like college sports in the United States.
Speaker 7 (34:50):
You have.
Speaker 4 (34:53):
Soccer paired with other sports, all under the same brand.
Real Madrid has great basketball. FC Barcelona's great basketball, but
of course they're known for their soccer, you know, Albat Berlin.
How you look around Europe. So we're also talking to
some existing clubs about the opportunity to then bring their
teams into this new league, but also in certain markets
(35:15):
create brand new teams.
Speaker 3 (35:16):
All right, so less than a minute to go as
you look out, I mean, is it do you envision
sort of one global league where there is like players
moving around or is it sort of a confederation of
related leagues.
Speaker 4 (35:28):
It's a great question, I think. Initially, I think confederation
is the perfect word. I mean, I can imagine certainly
initially in Europe that for example, we have something we
call the NBA Cup of Mid Season tournament. You could
imagine teams Europe, potentially Africa competing in that tournament. You
possibly could see teams coming into our playoffs top seeds
(35:50):
from other leagues. But over time, I think, for example,
certainly in Europe, as plane travel gets faster, it's sort
of went backwards with the elimination of the concord. But
I'm reading all the time about more opportunities at aviation.
You know, when I think of the flight from New
York to la for example, there's no reason if we
had four teams in Europe, you know, you couldn't travel
(36:11):
play you know, the Knicks or Nets travel to London,
play three four times in Europe, come back home.
Speaker 7 (36:17):
So I think it's very doable in our league. That
was NBA Commissioner Adam Silver on stage at the twenty
twenty five Bloomberg PHILANTHROPYECE Global Form with our very own
Jason Kelly. Jason Kelly is Bloomberg Original Chief correspondent and
co host of the Deal with Alex Rodriguez. Find that
on Apple, Spotify and all your favorite podcast platforms, and
(36:38):
while you're there, find the Bloomberg Business of Sports podcast
and subscribe to that too. Now we focus on the
NBA for the entire show, but we have to mention
at least one big story in the NFL. The New
England Patriots have reached an agreement to sell an eight
percent stake in the NFL franchise at evaluation exceeding nine
(36:58):
billion dollars. Sportico reports the buyers are Sixth Street and
billionaire Dean Metropolis. For insight, Bloomberg Intelligence hosts Paul Sweeney
and Scarlett Foo spoke with sporticos Kurt Battenhausen.
Speaker 9 (37:11):
We've been told that the Patriots are planning on really
putting this money back into the franchise. The Craft family,
led by Robert Craft Jonathan Kraft, owned one hundred percent
of the team before this and will maintain more than
ninety percent of the franchise before this. And so this
is again a way to create some liquidity that can
(37:33):
be again some people take it and use it for
personal use. We've been told the Patriots are going to
put this back into the franchise. And for the Patriots,
the Patriots are more than just an NFL team. They
have of course, Patriot Place around them, one point three
million square feet mixed use residential development that has dining
(37:54):
in retail, shopping, entertainment district. That really set the model
for other teams to follow in the NFL in terms
of mixed use developments.
Speaker 12 (38:05):
So they also own a.
Speaker 9 (38:06):
Major league soccer team, which is not part of this deal,
New England Revolution. They've been searching for a new stadium
for a long time and are trying to do something
in the Boston area at Sporticos.
Speaker 7 (38:18):
Kurt Batnausen speaking with Paul Sweeney and Scarlett Food live
on Bloomberg Radio earlier this week. That does it for
this week's show for my colleagues, Damian Zassauer, Vanessa Perdomo,
and a special thank you to Randall Williams and Jason Kelly.
I'm Michael Barr. Thanks for joining us. Tune in again
next week for the latest on the stories moving big
(38:38):
old money in the world of sports. You're listening to
the Bloomberg Business of Sports and Bloomberg Radio around the world.
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