June 20, 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.
The Los Angeles Lakers, the storied National Basketball Association franchise that’s won 17 championships, second only to the Boston Celtics, will be sold at a record $10 billion valuation, according to people familiar with the discussions. The Buss family has agreed to sell its majority stake to Los Angeles Dodgers owner and Guggenheim Partners LLC Chief Executive Officer Mark Walter, the people said. The pricetag crushes the record for a professional sports team set in March by the Celtics, which were purchased for $6.1 billion by a group led by Bill Chisholm. Before the Celtics sale, the Washington Commanders of the National Football League were sold to a group led by Apollo Management co-founder Josh Harris for $6.05 billion. Bloomberg global business reporter Ira Boudway joins to discuss.
Blake Walker of Arcis Golf joins to talk about his company acquiring three clubs in the Atlanta-area, adding to the footprint of the second-biggest owner and operator of US golf facilities.
Then, Vanessa Perdomo sits down with Fabien Allegre, chief brand officer of Paris Saint-Germain football club about its participation in the FIFA Club World Cup, and how it's growing in the US.
Plus, Ice Cube returns to talk about BIG3's growth as its new season gets underway.
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Episode Transcript
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Speaker 1 (00:02):
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of Sports.
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Well, it's pro kickleball?
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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 colleague Damian Zasaur and we'll
hear from Vanessa Perdomo later on in the show. Coming up,
we hear from ice Cube. His Big Three basketball league
just started its season and has a full slate of
games this weekend. We'll talk to him about how his
(01:09):
league is growing and becoming real competition for the NBA.
Speaker 3 (01:13):
You know, after the NBA Finals, they really waiting for
the NFL to start. So it's a lot of fans
out there just you know, waiting to be entertained, and
we think we got it with the Big three.
Speaker 4 (01:25):
Well.
Speaker 7 (01:26):
Also here from Fabian Allegra, he's chief brand officer for
Paris Saint Germain football Club. As the FIFA Club World
Cup rolls on. All that is on the way on
the Bloomberg Business of sports. But first, big, big, big, big,
big big news. This week, the Los Angeles Lakers will
have a new owner, the Bus family, who've owned the
(01:46):
Lakers since nineteen seventy nine. When patriarch Jerry Buss bought
the team it was a struggling franchise for sixty seven
point five million dollars. Now the team is being sold
at a record ten billion dollar valuation to Guggenheim Partner's
CEO Mark Walter. That's on top of being the lead
owner of the LA Dodgers. Here to break down what
(02:08):
we know for sure about another record breaking franchise deal
is Bloomberg Global Sports Business reporter Ira budue Ira Welcome
to the Bloomberg Business of Sports.
Speaker 8 (02:18):
Thanks for having me on.
Speaker 7 (02:19):
Man oh man, I tell you what news just breaks
left and right. I'm surprised. I mean, yes, okay, in
case you didn't hear it. By the way, billionaire, Yes,
he's loaded Mark Walter. He bought. Actually I should add
this the controlling stake in the team that is coming
(02:41):
up from the Bus family. And I understand that Genie
Buss is still going to operate the team.
Speaker 8 (02:48):
Yeah, she will for a number of years, I think
was the quote in the original ESPN report, remain as
the governor and then eventually transition out of that role,
which means she's keeping you know, at least fifteen percent
of the team for now. And we've seen deals like
this lately in the NBA where the governor wants to
(03:08):
stick around a little bit longer, but it is ready
to sell majority stake in the team. So it's an
interesting one. But yeah, I mean, this is a end
of an era. The Bus family longest tenured ownership in
the NBA, and you know, bought this team in nineteen
seventy nine and for a lot less than what Walter
is paying.
Speaker 7 (03:29):
I saw the crawl. We're talking about this come across
the TV and at the time, we had company at
the time, and I thought I saw it wrong. I'm like, no,
that can't be. It's your turn, John, you go roll
the dice. That's what That's basically what happened. But yeah,
I mean, this is amazing, and the my goodness, the
(03:51):
valuations keep going up. This is for record ten billion.
Speaker 8 (03:55):
Dollars, right, and this is on the heels of that
Celtics deal at six point one billion, which was the record,
and they're falling fast. I mean, ten is a lot
more than six point one and it's not been that long,
so I think it's pretty surprising. I mean, the Lakers
are on a very short list of premier, premier franchises,
(04:15):
not just you know, in a premier elite in a
top sports league, but also one of the top teams,
one of the top global brands, and you know, they
just a lot about them that makes them attractive. But
also I think Walter just has a record of being
willing to go big and he's already in the market.
Speaker 7 (04:33):
Right.
Speaker 8 (04:33):
They set a record for a franchise when that group
bought the Dodgers in twenty twelve for two point one billion,
and that seems to have worked out pretty well for
them so far. And now with this there's some interesting
possibilities what they can do in market, sort of combining
the Lakers and Dodgers potentially as a media property and
so on. So, you know, I think they know what
they're doing, but I also think like these numbers are
(04:56):
beyond maybe what you could look at the balance and justifying.
Speaker 4 (05:02):
So it's interesting.
Speaker 7 (05:03):
Yeah, I mean, this is one of those stories where well,
how high can the pot run? I mean, we're going
to keep going and going. I mean, what's going to happen?
Speaker 8 (05:12):
Yeah, And I think partly what we're seeing is a
split now between sports properties that are like a plus
like the Lakers, and maybe if you're a small market
baseball team, we maybe have hit the peak and we've
hit the roof, right. I think you're seeing in that
market the Twins rays other teams like having a little
(05:33):
trouble fetching the price that they originally wanted. So I
think they're on the one hand, you could say bubble bursting.
On the other hand, you can look at these numbers
and say, there's that you know, we can go on
forever into the stratosphere. At this rate, it's very interesting,
you know. And Walter in that group, they have, like
we said, Dodgers, they already had a piece of the Lakers.
(05:54):
Now they're becoming majority owners. They are in have stakes
in Chelsea, in the Premier League, they have some Formula
one Professional Women's Hockey League sparks. Like they are building
a very big platform or as they call them now,
of sporting properties. And I think that's another thing that
we're seeing is when you can combine these things, maybe
they're worth more than a standalone properties.
Speaker 7 (06:17):
Our thanks to Bloomberg Global Sports Business reporter Ira Budway
for joining us from record settings sports franchise deals to
the golf course. Arcis Golf recently made a few deals
of their own, acquiring three Atlanta area golf courses. Here
to talk to us about the deals and the growth
of golf is Blake Walker. He's chairman, CEO and founder
(06:39):
of Arcis Golf. Blake Welcome to the Bloomberg Business of Sports.
Speaker 9 (06:43):
Michael, thank you. I'm a big fan of the show.
Speaker 6 (06:45):
Happy to be here.
Speaker 7 (06:46):
Oh you've been too kind to us. Arcis Golf reaches
two billion dollar value. You bought three Atlanta courses but
you guys have a lot of history about Arcis golf.
Can you take us through it, sir?
Speaker 4 (06:59):
Sure?
Speaker 9 (06:59):
You know how I began my career back in the
early nineties really looking making investments in leisure and sports
and really began to develop a niche in hospitality, specifically
golf resorts. And you know, Arcus was something I was
I was sitting and I as a chief investment officer
of a large platform. We were about to go public,
(07:20):
and I looked at the market. This would have been like,
you know, twenty twelve, twenty thirteen, and there was about
three and a half billion dollars with a debt distressed
debt coming due sort of post leadman, and I thought, Wow,
this would be a phenomenal opportunity to build a platform
within golf because one of the things I'd thought about
was that golf was really dependent upon aging baby boomers,
(07:42):
and I thought, what's going to happen when they age out?
Golf's got to get younger, it's got to get more diverse,
and it's got to get decidedly more female. So went
home told my wife I had this idea, and that
I wanted to quit my day job. And you know,
this rate all my equity there and not take a
salary for a couple of years, and thankfully or surprisingly,
(08:02):
she said yes.
Speaker 4 (08:03):
So that was when sort of the.
Speaker 9 (08:04):
Odyssey began with Arcus in twenty fourteen. And as you mentioned,
you know, we we most recently acquired three private clubs
in Atlanta. A couple of weeks before we acquired the
Woodlands in Houston, and that was on the heels of
Championship treat where we host co host the Guest nash
Woman's Amateur and gray Hawk and Scottsdale in a variety
of others.
Speaker 2 (08:23):
So, Blake, I wonder if you could just tell our
audience a little bit about the business model you employed
at Arcus in terms of, you know, buying these courses,
you know, upgrading them, renovating them. I mean, I'm looking
at some pictures here of Fox metalw and Weymouth Country
Club and some of the renovations and the transformations of
these two clubs. It's just astounding.
Speaker 4 (08:38):
Take us through that, you know, I.
Speaker 9 (08:41):
Mean, it's it's interesting. We've done this a while and
we have a preconceived idea from an investment perspective and
reinvestment specifically, but we do a series of focus groups
with you know, with members prior to the you know,
finally investing, and you know, it's really a family centric thesis,
and it's really built upon our four pillars, you know,
(09:04):
which are you know, health and wellness, experiential dining, lifetime,
sports and arts entertainment. And we really use that as
a day part strategy, much like you would in media,
for every member of the family, by member by day.
So that cat bax is very intentional and it's really
a lot of lifestyle amenities in addition to golf.
Speaker 7 (09:26):
Man, if I told my wife that I wasn't going
to have a salary for a couple of years, man,
you'd tell me to go get that greeting job in
Walmart that I've always dreamed about. You have a very
understanding wife and made your dream come true.
Speaker 9 (09:42):
Well, you know, Michael, there were days I thought I
might have that greeter job. So I absolutely understand what
you're talking about. It could have clearly been a very
public failure, but I've been I'm a lucky guy. I've
got to incredibly supportive spouse, and I've got a great team.
Quite frankly, I mean, really, the journey here has been a.
A lot of people want to talk about our in
organic growth. But our organic growth has been special and
(10:04):
it's really been the direct result of the talented people
we have on this team.
Speaker 2 (10:10):
So Blake take us through. I mean, I mean, the
company's been around for nearly eleven years. I mean it's
got it commands a two billion dollar valuation. I mean,
who are your partners? You know, I've seen some of these,
I've seen iFIT. You know you've done some things there.
You know some AI coach. I believe that you guys
are testing out. I mean talk to us about you know,
who the logical partners are that can not only help
your company but help it grow well.
Speaker 9 (10:31):
It really goes back to that four pillars thesis. I mean,
you know, I think as you look at our growth
on a go forward basis, I mean we're partnering with
people that are best in class from a course design perspective,
Jumping on a plane here in about an hour to
work on a project.
Speaker 7 (10:44):
We've got the three or four.
Speaker 9 (10:45):
We have an in house construction team. We work with
the best designers on the planet. From a health and
wellness perspective, we're beta testing with a couple of leaders
in the health and wellness space and a couple of
hub markets. Currently we're in the process us at the
final design stages of a social house we're going to
build in UH in Scottsdale that will be have a
(11:06):
green grass location. So again, you know, think about younger,
you know, female, more diverse audience and what those wants, needs,
desires are in terms of on a daily basis, right,
I mean, it's where they're gonna it's where they're going
to dine, it's where they're going to work out, it's
where they're gonna, uh socially, They're they're going to spend
time in the social house. It's it's really it's it's
(11:28):
very similar to if you were bundling it in the
media business.
Speaker 2 (11:30):
Well, you have also have a very diverse portfolio. Right,
This isn't just private clubs we're talking about. There's public courses,
there's municipal courses. Tell us take us through your portfolio.
I mean, take us through those different business models and
how you view them. I mean, are they individually looked
at separately as a part of you know, you know,
just building better diversification into your portfolio. For example, I
mean talk to us about you know, the the narrative
(11:51):
for investing across all three verticals.
Speaker 9 (11:53):
You know that again very intentional and and to grow
the game. You know, as you look at those aging
baby boomers and who who the next wave of consumers
is going to be within golf, it had to make
it more approachable and more affordable. So for us, it
was key that about fifty percent of our portfolio be
daily fee, and so that fifty percent is driven by
our subscription offering. So if you look at markets like
(12:14):
Scottsdale where we're building the Social House, we've got over
ten thousand subscribers in that market, and we also have
several private clubs everywhere from entry level to one hundred
thousand dollars initiation fees. And really it's we're trying to
create an ecosystem where the consumer can be vertically integrated
as they grow in their career. But again the mental
(12:36):
model is that four pillars thesis. Really the only difference
is that breadth and scope of what we offered a
daily fee versus a private o.
Speaker 7 (12:43):
Well, thanks to Blake Walker for joining us. He's chairman,
CEO and founder of Arcis Golf. Up next, we turned
to soccer and the FIVA Club World Cup with chief
brand strategists of Paris Saint Germain Football Club Babia Allegory
for Damian Sasaur. I'm Michael Barr. You're listening to the
Bloomberg Business of Sports and Bloomberg Radio around the world.
Speaker 1 (13:06):
This is Bloomberg Business of Sports from Bloomberg Radio.
Speaker 7 (13:12):
This is the Bloomberg Business of Sports, where we explore
the big money issues in the world of sports. Michael Barr.
With the FIFA Club World Cup underway, Essa Brodomo got
a chance to sit down with one of the folks
behind the scenes at one of the teams participating. Fabian
Allegra is chief brand officer at Paris Saint Germain Football Club.
Let's take a listen to their conversation, part of an
(13:34):
ongoing series focusing on the business of soccer.
Speaker 4 (13:37):
Well, this.
Speaker 10 (13:39):
First edition of the Club World Cup is super exciting
for Paris A Joana maybe. As you know, we already
get a strong and a growing US footprint with our
eighteen official fans club, the three stores that we have
in New York, Miami and Lesliga US, the academies as
(14:03):
well and our US dedicated Ecomes platform. So for US
it's a way not to We're not visiting in a way,
we're moving in. And the concept that we have for
PG House in Los Angeles will be a unique and
(14:24):
immassive ub on Melose Avenue, blending football, fashion, art and
lifestyle experiences.
Speaker 6 (14:33):
I mean the DNA of the club.
Speaker 2 (14:36):
Yeah, I love that.
Speaker 7 (14:36):
I love that.
Speaker 5 (14:38):
I love the what you put it there. You're you're
not visiting, You're moving in and expanding right your footprint
that you already have here. And you guys are in
you know, Group B along with you know, one of
the other one of the only MLS teams competing here
and going to be competing with them on in their
home stadium, on their home pitch. Tell me how how
(15:00):
you know? Is that exciting or is that post another
challenge or does that just give you more of a
footprint to grow in the US playing against the US team.
Speaker 10 (15:10):
Oh, the way the Club World Cup is organized is
really interesting because that that will allow us to get
in a different cities. I mean, you'll see for the
group stage we will be in LA but also in Seattle.
And for us, that's also a way to go and
meet our community and fans and and and once again
(15:32):
try to expand our footprint in the different key cities.
Speaker 5 (15:37):
So tell me a little bit more about the l
A House that you were saying. I mean, you have
the stores already here and like you said, l A
La New York. So tell me how this is going
to Okay, Yes, so how it's going to be different.
Speaker 10 (15:54):
The concept of it was really to bring the best
of what what we are are and and and you
know a little bit about the positioning of Paris Rama,
which is so unique in the football world. We were
maybe the first club too to move into this what
(16:14):
we define culture, you know, and and create a bridge
for the for the young generation of fans around sport, music, art, fashion.
And the concept is really to to bring the best
of what we are doing to highlight maybe some new
and high level collaboration that we're going to launch, specially
(16:36):
in in Los Angeles. Yeah, it's the concept is really
too u to create a space where the community, the
local heroes, the all all the meeting that we can
organize from a business perspective, but also to connect with
our local funds, you know, is like welcome there to
(16:58):
to the Pejure House for two weeks.
Speaker 5 (17:02):
And you said it there that our culture, music, These
are the things that you intersect and obviously every team
that's coming over from internationally is going to want to
connect with US fans. But how you're doing that differently
and capturing you know, the US audience, is that exactly
what you're leaning into the culture of it is different
(17:25):
for you guys, do you think.
Speaker 10 (17:27):
I think that the main difference between us and the other.
And with a lot of respect, we've been like so
in advance on this one because that was a part
of the project in two thy eleven when the chairman
took over the club to make this a successful brand
on the pitch, but also asking to build this global
(17:50):
and life start. And at the time in two thoy eleven,
you know, the club were not like open to this
as act of creating the bridge.
Speaker 6 (18:02):
So so so.
Speaker 10 (18:03):
I'm not saying that what the other club doing is nothing,
but we always try to to be the first and
and and and I think that the consistency and the
credibility that we get from since twenty eleven is unique.
(18:24):
So yeah, that's maybe without any kind of urds. You
know that we always think differently and the position the
positioning of the club being like the Club of the
New Generation is like super important and drives all the
(18:44):
kind of initiative that that we're doing.
Speaker 5 (18:47):
I love, yeah, I love that the Club of the
New Generation. And the interesting thing here too, and one
of the things that we're really diving in on is
is unlocking this this market in the US and in
a way that hasn't really been done before in soccer
really even here. So do you think, you know the
importance of being here and doing all these things to
(19:09):
unlock the US fan base is because you think it's
the next generation of fans or or the next way
to unlock new business for you guys.
Speaker 6 (19:19):
Yes, of course it is. And we already know that.
Speaker 10 (19:24):
Maybe soccer's soccer what we call football, but soccer ranks
a fifth in popularity in US behind American football, basketball, baseball.
Speaker 4 (19:35):
And mma mma.
Speaker 6 (19:37):
Sorry.
Speaker 10 (19:38):
So we have a lot of works to do to
to to increase the popularity of the spot and we
believe that when it comes to this young new generation
of fans, whatever spot we're talking about is really to
go into their ecosy time in a way and create
(20:02):
this bridge, you know, because they are not only fan
of basketball, they are a fan of basketball and football,
of music, of fashion. So we need to really to
re enforce this this strength of the club which is
once again unique for me.
Speaker 5 (20:20):
And how big you know, do you think this is
in terms of from a business perspective, if you do,
you know, break out and get this new market really
signed on to soccer to p s G. How big
can it be for you guys from a business perspective,
from a growth perspective.
Speaker 10 (20:40):
It's had to to to give you some some numbers.
But the fact that we will be in town for
two weeks, and that's just once again the beginning we
we we started like earlier, maybe on a small scale,
but the fact that we will show during these two weeks,
(21:02):
will and not only in LA, would be a part
of the Fanatic Festival in New York. We're going to
make some really big announcement when it comes to cost
collaboration with American Brand and tis a Rama.
Speaker 6 (21:23):
So how to.
Speaker 10 (21:25):
Give you numbers, But what I really want to say
is like the US market is a key market for
the next couple of years for Parison Rama.
Speaker 5 (21:34):
And you know, you obviously talked about the La House
and having that in LA for two weeks, but across
you know, the US. You said eighteen fan clubs. I
think you said, how are you planning on working with
them specifically in while you guys are here?
Speaker 10 (21:52):
Yes, of course, and we're going to do the same
thing with the seven academy that we have all around
the US. We're going to organize some viewing party for
the game, because of course not all of them can
fly to l A. But at least we'll have different
kind of events dedicated to the fact that Paris Arama
(22:18):
is in the US.
Speaker 5 (22:19):
And after, you know, the club World Cup is over,
how do you plan on keeping the footprint here and
keeping the excitement about the club?
Speaker 6 (22:32):
That will be like on different side, I think that.
Speaker 10 (22:36):
We have a strong when it comes to the community
give back to the community. We have a big plan,
you know, just not to to be there and go
back to Paris and forget about the community who needs
some helps or we have a big project around the
around the on on this path and then it will
(22:59):
be more on the you know, the connection that we'll have.
Look at it and not only on men's football, but
also women's football. You know that we have a women's
team as well. We have some American player, so it's
more we're going to use to create this relationship and network.
So then yeah, that's that will go along all the
(23:25):
announcement we're going to do over the ten days.
Speaker 5 (23:28):
Yeah, I'm really glad that you brought up the women's
side there, you know, because just because this is the
men's Club World Cup and next year we're hosting the
men's World Cup, doesn't mean that it also can't benefit,
you know, the women's side. So you are so one
of your plans is to then introduce your women's team
over here. Are are you planning on having them come
play or anything like that or how do you envision.
Speaker 6 (23:52):
That's that's what we're trying to achieve.
Speaker 10 (23:55):
But the canon of the women's competition is also complicated,
you know, and we cannot have the full team because
they are all in their.
Speaker 6 (24:08):
Own national team.
Speaker 10 (24:11):
But we already get some contact with with some other
women's team and we will go from there, you know,
just to highlight the fact that maybe one plus one
it goes three, you know, even if I'm not competing
in the same area, we can we can together join
our first our strength, you know, and and and highlight this.
Speaker 6 (24:37):
Football as well, women's football as well.
Speaker 7 (24:41):
As PSG's Chief brand Officer, Fabian Allegra speaking with our
own Vanessa Perdomo. It's part of an ongoing series where
Vanessa speaks to some of the key decision makers and
players in the world of soccer as we get closer
to the FIFA World Cup coming to the US up. Next,
we turn the basketball and talked well none other than
Ice Cube about the new Big Three season.
Speaker 3 (25:03):
You know, these guys have played for championships, so you know,
it's pretty cool to see them still with the hunger
and the fire, and that's what people want to see,
you know, people want to see real passion on the court,
not you know guys you know, worrying about you know,
(25:23):
managing minutes and all this kind of like crazy happening
in the NBA.
Speaker 7 (25:30):
I'm Michael Barr. You're listening to the Bloomberg Business of
Sports Bloomberg Radio around the world.
Speaker 1 (25:49):
This is Bloomberg Business of Sports from Bloomberg Radio.
Speaker 7 (25:54):
Thanks for joining us on the Bloomberg Business of Sports,
where we explore the big money issues in the world
the Sports Bar along with my colleague Damien sas Sauer
and Vanessa Brodomo. Joining us now is none other than
ice Cube. He's a movie star, hip hop legend, and
he's CEO and co founder of the Big Three and
its new season is just getting underway. Ice Cube, Welcome
(26:17):
to the Bloomberg Business of Sports. Yea, yay, thanks for
having me. Man, you're an old friend of the show.
We've talked with you before, and I'm so proud that
you started the Big Three and it's still going strong
and the new season has started.
Speaker 3 (26:35):
Tell us about it. Then it started off with a bang,
I go. Last week we had two of our rookies
get into it. Yes, when I say, I'm talking about
Dwight Howard and Lance Stevenson, Dude.
Speaker 2 (26:50):
They got ejected, right, I mean, and then you had
Stephen Jackson and Jalen Johnson. I mean, what's going on?
I mean there's a lot of bad blood.
Speaker 4 (26:57):
Yeah, you know, these guys want to win. You know,
it's passion.
Speaker 3 (27:02):
When I talk about the Big Three, I want you
to bring your game, not your name.
Speaker 4 (27:07):
So as are coming to win.
Speaker 3 (27:11):
And you know you could see we allow players to
be themselves.
Speaker 7 (27:15):
Now.
Speaker 3 (27:16):
We don't condone no fighting and touching each other. You know,
we we let them trash talk, We let we let personalities,
Uh you know free you know, you don't have to
be a robot and play in.
Speaker 4 (27:29):
The Big Three.
Speaker 3 (27:30):
Uh, but yeah, you know, we have to talk to
our rookies and let them know.
Speaker 4 (27:36):
We don't want you to tell me to the stands.
Let's keep it on the court, have fun.
Speaker 7 (27:42):
What's the same. You can take the athlete out of
the game, but you can't take the game out of
the athlete.
Speaker 4 (27:47):
Man for real.
Speaker 3 (27:49):
You know, these guys have played for championships, so you know,
it's it's pretty cool to see them still with the
hunger and the fire, and it's what people want to see,
you know, people want to see real passion on the court,
not you know guys you know, worrying about you know,
(28:09):
managing minutes and all this kind of like crazy just
happening in the NBA.
Speaker 11 (28:17):
Excuse I want to ask that this year is big
for the Big Free for so many reasons. But you're
introducing a city base model for this for this year.
Why did you choose to introduce that and why take
these specific cities?
Speaker 3 (28:29):
Well, every you know, every team, you know, all the
teams were centrally owned by the league, and we had
twelve teams, which is a handful, and knowing that we
want to expand one day to sixteen twenty, you know,
maybe thirty one day. We knew we couldn't keep it.
Speaker 6 (28:50):
As a.
Speaker 4 (28:53):
Centralized model.
Speaker 3 (28:54):
You know, we knew to really blow this league out,
we're going to have to plan our flag and in
these cities around the country, you know, even around the world.
You know, we're looking at London, in Mexico City. But
we just we felt like this is the how we grow.
And you know, right now we have four great owners.
(29:19):
When the process of selling our other four teams, but
we got owners in Los Angeles, Houston, Detroit.
Speaker 4 (29:28):
In Miami. So you know, this is the start.
Speaker 3 (29:33):
Of of you know, the league actually growing.
Speaker 2 (29:38):
Well, I mean, let's just talk about you know, you know,
the growth of the league, right, and let's just use
the NBA as a barometer, right. I mean, if you
look at these incredible valuations that these teams are going for,
I'm talking the NBA here. I mean, it's something like
twelve times revenue, like crazy, crazy, crazy, crazy numbers. And
you know, I'm just curious, you know, as an investor,
if you're a team owner in the Big Three, are
you are you? I mean, like it is are you
(30:00):
thinking about that. I mean, do you find that your
stakeholders and the team owners in the Big Three that
you know they're in it for the long haul, that
they're in it about the growth of the league and
the love of basketball, or are they in it like
a lot of these private equity guys are to generate
a profit. I'm just curious to hear your thoughts on that.
Speaker 3 (30:16):
No, it's great, we got we got guys I think
that are really both. You know, they love the game,
they saw that this was a great investment, and they
saw that you know, their their money could you know,
double triple, quadruple very quick. And so you know it's
(30:38):
smart all the way around. But we want people who
can help us grow the league, so everybody's additive. We're
not just grabbing you know, celebrity money or you know,
you know, any kind of family funds or things like that.
You know, we're really looking for people who want to win,
want to run us a pro sports team, and you know,
(31:05):
want to win the Doctor J Trophy, which is our
championship broken and so that's what's gonna make the league great.
You know, it's really gonna be about who can put
the best team together. To win, and you know, I
think everything else will falling place. You know, it's still
such a young league. If you can kind of project
(31:28):
in ten years or even fifteen where we're gonna be.
Speaker 4 (31:33):
I forget about it.
Speaker 3 (31:34):
And you know how much the value of our teams,
you know it's gonna it's gonna be astronomical.
Speaker 2 (31:41):
Well, Michael, do you remember just about two maybe three
years ago when we had Ice on the air and
Ice was afraid to talk about this because he's afraid
the NBA was gonna come down, and because they view
him as a competitor. And now look at Big Three,
I mean how it stands on it to a CBS.
I mean, like, are you kidding me?
Speaker 4 (31:58):
Ice?
Speaker 2 (31:58):
I mean, look at what you've done. Look at the sponsorships,
your sponsors, your corporate sponsors. I mean, the growth of
the league in such a short period of time, just
two three years is it's really I don't think I've
seen anything like it.
Speaker 4 (32:09):
It's amazing.
Speaker 3 (32:10):
You know, not since UFC has a league been able
to really stick like the Big Three. And we are
proud of our great sponsors. You know, Monster Energy been
there for a long time, but now we got you know,
Starter and eminem Mars, they have PNG Corps Capital one
(32:38):
dude wipes, you know what I mean.
Speaker 4 (32:39):
It's like.
Speaker 3 (32:41):
Stuff, and you know, we expect that to grow. We
do have the best product in the summer. And you know,
we hit those you know fans who you know after
the NBA Finals, they really waiting for the NFL to start.
(33:01):
So it's a lot of fans out there just you know,
waiting to be entertained.
Speaker 4 (33:07):
And we think we got it with the Big Three?
Speaker 7 (33:10):
Are you reaching out more to some w NBA stars?
And I was thinking about this because Caitlin Clark. Yeah,
I mean, right now she's with Indiana, but boy, if
she came to the Big three, she would clean up.
Speaker 2 (33:27):
I mean, right, the average n WNB salary is one
hundred and fifty, not even one hundred and fifty, one
thousand dollars a year. I mean, she goes to the
Big three, I mean, forget about it, right, I mean,
I mean that's a good.
Speaker 4 (33:36):
Point, Michael.
Speaker 3 (33:38):
Coming out of college, we offered her a two year
contract five million dollars a year, you know, plus little
equity here and there.
Speaker 7 (33:50):
Hell, I'll play for you for that, you, Michael, bar.
Speaker 4 (33:55):
We knew Johun Loocke.
Speaker 3 (33:57):
You know, we we we heard from our sponsors that
it would unlock you know, millions of dollars if she
did that, kind of like a you know, a Billy
Jean King moment. But you know, her agents kind of
blocked us from speaking with her and her family, so
(34:18):
we wasn't able to really bring that to light. But
but yeah, we did make the offer. If you if
you go back and look, you'll see us, uh make
that real offer, you know, because we knew how big
it would be for the Big Three, and we thought
she could have some success because of her style of play.
(34:38):
You know, she could shoot from far, she can you know,
really run the run the game point guard wise, and
we've had some small point guards have success in the
Big Three, so we felt like, you know, she actually
really had a shot to be successful.
Speaker 4 (34:55):
Wasn't just a gimmick.
Speaker 11 (34:57):
Well, the hard thing there is obviously she's competing in
the I mean w n B. At the same time,
I know what you mean. It it would have been
you know more profitable for her salary wise to play
in the big Street. You're okay, interesting, Yeah.
Speaker 4 (35:15):
Playing three and keep you know w n B a contract.
We was gonna make it work.
Speaker 3 (35:22):
We only had one game that was a conflict, and
when we looked at the schedule, well there was it
was last year.
Speaker 4 (35:29):
Actually it was one game that was a conflict. We
made the offer.
Speaker 11 (35:35):
So do you think you'll look at other WNB players
that I retired WNBA players who wouldn't have to make
that decision to continue to play both at the same
time they're done. Like how Dwight Howard's doing after this?
Speaker 4 (35:47):
I don't know, because you know, with her it was
a special situation.
Speaker 3 (35:50):
Like I said, you know, our sponsor has made it
clear that getting her would unlock millions of dollars and sponsorships,
So we don't know if it's going to be another
player with that impact. That being said, our player captains
get to pick who they want to play with, so
(36:12):
we don't have general managers. The captain of the team
picks his co captains. So if we ever had a
captain pick a w NBA player, she would be in lee.
Speaker 4 (36:26):
Oh wow, that's awesome. Came on.
Speaker 7 (36:30):
What have you learned when we first talked to you
as you started the Big Three? Today? As a business model?
Wise attention that you have paid a lot of time
and effort to to make the Big Three work.
Speaker 4 (36:48):
Oh wow, you know it takes.
Speaker 3 (36:53):
It takes a great team, of course, a very very talented,
hard work and people who are relentless. But but also
you know what I learned is, you know, a lot
of money people like to just meet they bored, they
(37:14):
got their money, and you know, why not have a
meeting with ice Key, you know, to tell him no,
you know what I mean.
Speaker 4 (37:22):
So it's like.
Speaker 2 (37:24):
That that was.
Speaker 3 (37:26):
Surprising to me, but I understand, you know, So we
try to avoid that as much as possible. And you know,
at the end of the day, it is what it is,
and we want people who are passionate. And you know,
if we get that, you know, we feel like we're
(37:49):
the perfect partners to work with because we're you know,
we don't we don't have to be right. We just
want to get it right.
Speaker 7 (38:00):
Ice Cube, you are a friend of the show and
you are welcome anytime you want to come talk with us. Man,
we really do appreciate it. Thank you, appreciate y'all. Layer
special special thank you to ice Cube for joining us now.
If you missed any of that conversation, be sure to
check it out now on the Bloomberg Business of Sports podcast.
Subscribe now on Apple, Spotify or wherever you get your podcasts.
(38:24):
And that does it for this edition of The Bloomberg
Business of Sports. For my colleagues Damien Sasaur and Vanessa Perdomo,
I'm Michael Barr. Tune in again next week for the
latest on the stories moving big money in the world sports.
You are listening to The Bloomberg Business of Sports from
Bloomberger 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.
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Believe in tech.
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Your face is your ticket, your face is your wallet,
your face is your access to a club.
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These are such iconic and important buildings for businesses.
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For fans, COVID was one of the best things ever
happened to go.
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The NFL is a bulletproof business.
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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 kickleball?
Speaker 8 (00:36):
Real, Are people really going to tune into this? 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 colleague Damian Zasaur and we'll
hear from Vanessa Perdomo later on in the show. Coming up,
we hear from ice Cube. His Big Three basketball league
just started its season and has a full slate of
games this weekend. We'll talk to him about how his
(01:09):
league is growing and becoming real competition for the NBA.
Speaker 3 (01:13):
You know, after the NBA Finals, they really waiting for
the NFL to start. So it's a lot of fans
out there just you know, waiting to be entertained, and
we think we got it with the Big three.
Speaker 4 (01:25):
Well.
Speaker 7 (01:26):
Also here from Fabian Allegra, he's chief brand officer for
Paris Saint Germain football Club. As the FIFA Club World
Cup rolls on. All that is on the way on
the Bloomberg Business of sports. But first, big, big, big, big,
big big news. This week, the Los Angeles Lakers will
have a new owner, the Bus family, who've owned the
(01:46):
Lakers since nineteen seventy nine. When patriarch Jerry Buss bought
the team it was a struggling franchise for sixty seven
point five million dollars. Now the team is being sold
at a record ten billion dollar valuation to Guggenheim Partner's
CEO Mark Walter. That's on top of being the lead
owner of the LA Dodgers. Here to break down what
(02:08):
we know for sure about another record breaking franchise deal
is Bloomberg Global Sports Business reporter Ira budue Ira Welcome
to the Bloomberg Business of Sports.
Speaker 8 (02:18):
Thanks for having me on.
Speaker 7 (02:19):
Man oh man, I tell you what news just breaks
left and right. I'm surprised. I mean, yes, okay, in
case you didn't hear it. By the way, billionaire, Yes,
he's loaded Mark Walter. He bought. Actually I should add
this the controlling stake in the team that is coming
(02:41):
up from the Bus family. And I understand that Genie
Buss is still going to operate the team.
Speaker 8 (02:48):
Yeah, she will for a number of years, I think
was the quote in the original ESPN report, remain as
the governor and then eventually transition out of that role,
which means she's keeping you know, at least fifteen percent
of the team for now. And we've seen deals like
this lately in the NBA where the governor wants to
(03:08):
stick around a little bit longer, but it is ready
to sell majority stake in the team. So it's an
interesting one. But yeah, I mean, this is a end
of an era. The Bus family longest tenured ownership in
the NBA, and you know, bought this team in nineteen
seventy nine and for a lot less than what Walter
is paying.
Speaker 7 (03:29):
I saw the crawl. We're talking about this come across
the TV and at the time, we had company at
the time, and I thought I saw it wrong. I'm like, no,
that can't be. It's your turn, John, you go roll
the dice. That's what That's basically what happened. But yeah,
I mean, this is amazing, and the my goodness, the
(03:51):
valuations keep going up. This is for record ten billion.
Speaker 8 (03:55):
Dollars, right, and this is on the heels of that
Celtics deal at six point one billion, which was the record,
and they're falling fast. I mean, ten is a lot
more than six point one and it's not been that long,
so I think it's pretty surprising. I mean, the Lakers
are on a very short list of premier, premier franchises,
(04:15):
not just you know, in a premier elite in a
top sports league, but also one of the top teams,
one of the top global brands, and you know, they
just a lot about them that makes them attractive. But
also I think Walter just has a record of being
willing to go big and he's already in the market.
Speaker 7 (04:33):
Right.
Speaker 8 (04:33):
They set a record for a franchise when that group
bought the Dodgers in twenty twelve for two point one billion,
and that seems to have worked out pretty well for
them so far. And now with this there's some interesting
possibilities what they can do in market, sort of combining
the Lakers and Dodgers potentially as a media property and
so on. So, you know, I think they know what
they're doing, but I also think like these numbers are
(04:56):
beyond maybe what you could look at the balance and justifying.
Speaker 4 (05:02):
So it's interesting.
Speaker 7 (05:03):
Yeah, I mean, this is one of those stories where well,
how high can the pot run? I mean, we're going
to keep going and going. I mean, what's going to happen?
Speaker 8 (05:12):
Yeah, And I think partly what we're seeing is a
split now between sports properties that are like a plus
like the Lakers, and maybe if you're a small market
baseball team, we maybe have hit the peak and we've
hit the roof, right. I think you're seeing in that
market the Twins rays other teams like having a little
(05:33):
trouble fetching the price that they originally wanted. So I
think they're on the one hand, you could say bubble bursting.
On the other hand, you can look at these numbers
and say, there's that you know, we can go on
forever into the stratosphere. At this rate, it's very interesting,
you know. And Walter in that group, they have, like
we said, Dodgers, they already had a piece of the Lakers.
(05:54):
Now they're becoming majority owners. They are in have stakes
in Chelsea, in the Premier League, they have some Formula
one Professional Women's Hockey League sparks. Like they are building
a very big platform or as they call them now,
of sporting properties. And I think that's another thing that
we're seeing is when you can combine these things, maybe
they're worth more than a standalone properties.
Speaker 7 (06:17):
Our thanks to Bloomberg Global Sports Business reporter Ira Budway
for joining us from record settings sports franchise deals to
the golf course. Arcis Golf recently made a few deals
of their own, acquiring three Atlanta area golf courses. Here
to talk to us about the deals and the growth
of golf is Blake Walker. He's chairman, CEO and founder
(06:39):
of Arcis Golf. Blake Welcome to the Bloomberg Business of Sports.
Speaker 9 (06:43):
Michael, thank you. I'm a big fan of the show.
Speaker 6 (06:45):
Happy to be here.
Speaker 7 (06:46):
Oh you've been too kind to us. Arcis Golf reaches
two billion dollar value. You bought three Atlanta courses but
you guys have a lot of history about Arcis golf.
Can you take us through it, sir?
Speaker 4 (06:59):
Sure?
Speaker 9 (06:59):
You know how I began my career back in the
early nineties really looking making investments in leisure and sports
and really began to develop a niche in hospitality, specifically
golf resorts. And you know, Arcus was something I was
I was sitting and I as a chief investment officer
of a large platform. We were about to go public,
(07:20):
and I looked at the market. This would have been like,
you know, twenty twelve, twenty thirteen, and there was about
three and a half billion dollars with a debt distressed
debt coming due sort of post leadman, and I thought, Wow,
this would be a phenomenal opportunity to build a platform
within golf because one of the things I'd thought about
was that golf was really dependent upon aging baby boomers,
(07:42):
and I thought, what's going to happen when they age out?
Golf's got to get younger, it's got to get more diverse,
and it's got to get decidedly more female. So went
home told my wife I had this idea, and that
I wanted to quit my day job. And you know,
this rate all my equity there and not take a
salary for a couple of years, and thankfully or surprisingly,
(08:02):
she said yes.
Speaker 4 (08:03):
So that was when sort of the.
Speaker 9 (08:04):
Odyssey began with Arcus in twenty fourteen. And as you mentioned,
you know, we we most recently acquired three private clubs
in Atlanta. A couple of weeks before we acquired the
Woodlands in Houston, and that was on the heels of
Championship treat where we host co host the Guest nash
Woman's Amateur and gray Hawk and Scottsdale in a variety
of others.
Speaker 2 (08:23):
So, Blake, I wonder if you could just tell our
audience a little bit about the business model you employed
at Arcus in terms of, you know, buying these courses,
you know, upgrading them, renovating them. I mean, I'm looking
at some pictures here of Fox metalw and Weymouth Country
Club and some of the renovations and the transformations of
these two clubs. It's just astounding.
Speaker 4 (08:38):
Take us through that, you know, I.
Speaker 9 (08:41):
Mean, it's it's interesting. We've done this a while and
we have a preconceived idea from an investment perspective and
reinvestment specifically, but we do a series of focus groups
with you know, with members prior to the you know,
finally investing, and you know, it's really a family centric thesis,
and it's really built upon our four pillars, you know,
(09:04):
which are you know, health and wellness, experiential dining, lifetime,
sports and arts entertainment. And we really use that as
a day part strategy, much like you would in media,
for every member of the family, by member by day.
So that cat bax is very intentional and it's really
a lot of lifestyle amenities in addition to golf.
Speaker 7 (09:26):
Man, if I told my wife that I wasn't going
to have a salary for a couple of years, man,
you'd tell me to go get that greeting job in
Walmart that I've always dreamed about. You have a very
understanding wife and made your dream come true.
Speaker 9 (09:42):
Well, you know, Michael, there were days I thought I
might have that greeter job. So I absolutely understand what
you're talking about. It could have clearly been a very
public failure, but I've been I'm a lucky guy. I've
got to incredibly supportive spouse, and I've got a great team.
Quite frankly, I mean, really, the journey here has been a.
A lot of people want to talk about our in
organic growth. But our organic growth has been special and
(10:04):
it's really been the direct result of the talented people
we have on this team.
Speaker 2 (10:10):
So Blake take us through. I mean, I mean, the
company's been around for nearly eleven years. I mean it's
got it commands a two billion dollar valuation. I mean,
who are your partners? You know, I've seen some of these,
I've seen iFIT. You know you've done some things there.
You know some AI coach. I believe that you guys
are testing out. I mean talk to us about you know,
who the logical partners are that can not only help
your company but help it grow well.
Speaker 9 (10:31):
It really goes back to that four pillars thesis. I mean,
you know, I think as you look at our growth
on a go forward basis, I mean we're partnering with
people that are best in class from a course design perspective,
Jumping on a plane here in about an hour to
work on a project.
Speaker 7 (10:44):
We've got the three or four.
Speaker 9 (10:45):
We have an in house construction team. We work with
the best designers on the planet. From a health and
wellness perspective, we're beta testing with a couple of leaders
in the health and wellness space and a couple of
hub markets. Currently we're in the process us at the
final design stages of a social house we're going to
build in UH in Scottsdale that will be have a
(11:06):
green grass location. So again, you know, think about younger,
you know, female, more diverse audience and what those wants, needs,
desires are in terms of on a daily basis, right,
I mean, it's where they're gonna it's where they're going
to dine, it's where they're going to work out, it's
where they're gonna, uh socially, They're they're going to spend
time in the social house. It's it's really it's it's
(11:28):
very similar to if you were bundling it in the
media business.
Speaker 2 (11:30):
Well, you have also have a very diverse portfolio. Right,
This isn't just private clubs we're talking about. There's public courses,
there's municipal courses. Tell us take us through your portfolio.
I mean, take us through those different business models and
how you view them. I mean, are they individually looked
at separately as a part of you know, you know,
just building better diversification into your portfolio. For example, I
mean talk to us about you know, the the narrative
(11:51):
for investing across all three verticals.
Speaker 9 (11:53):
You know that again very intentional and and to grow
the game. You know, as you look at those aging
baby boomers and who who the next wave of consumers
is going to be within golf, it had to make
it more approachable and more affordable. So for us, it
was key that about fifty percent of our portfolio be
daily fee, and so that fifty percent is driven by
our subscription offering. So if you look at markets like
(12:14):
Scottsdale where we're building the Social House, we've got over
ten thousand subscribers in that market, and we also have
several private clubs everywhere from entry level to one hundred
thousand dollars initiation fees. And really it's we're trying to
create an ecosystem where the consumer can be vertically integrated
as they grow in their career. But again the mental
(12:36):
model is that four pillars thesis. Really the only difference
is that breadth and scope of what we offered a
daily fee versus a private o.
Speaker 7 (12:43):
Well, thanks to Blake Walker for joining us. He's chairman,
CEO and founder of Arcis Golf. Up next, we turned
to soccer and the FIVA Club World Cup with chief
brand strategists of Paris Saint Germain Football Club Babia Allegory
for Damian Sasaur. I'm Michael Barr. You're listening to the
Bloomberg Business of Sports and Bloomberg Radio around the world.
Speaker 1 (13:06):
This is Bloomberg Business of Sports from Bloomberg Radio.
Speaker 7 (13:12):
This is the Bloomberg Business of Sports, where we explore
the big money issues in the world of sports. Michael Barr.
With the FIFA Club World Cup underway, Essa Brodomo got
a chance to sit down with one of the folks
behind the scenes at one of the teams participating. Fabian
Allegra is chief brand officer at Paris Saint Germain Football Club.
Let's take a listen to their conversation, part of an
(13:34):
ongoing series focusing on the business of soccer.
Speaker 4 (13:37):
Well, this.
Speaker 10 (13:39):
First edition of the Club World Cup is super exciting
for Paris A Joana maybe. As you know, we already
get a strong and a growing US footprint with our
eighteen official fans club, the three stores that we have
in New York, Miami and Lesliga US, the academies as
(14:03):
well and our US dedicated Ecomes platform. So for US
it's a way not to We're not visiting in a way,
we're moving in. And the concept that we have for
PG House in Los Angeles will be a unique and
(14:24):
immassive ub on Melose Avenue, blending football, fashion, art and
lifestyle experiences.
Speaker 6 (14:33):
I mean the DNA of the club.
Speaker 2 (14:36):
Yeah, I love that.
Speaker 7 (14:36):
I love that.
Speaker 5 (14:38):
I love the what you put it there. You're you're
not visiting, You're moving in and expanding right your footprint
that you already have here. And you guys are in
you know, Group B along with you know, one of
the other one of the only MLS teams competing here
and going to be competing with them on in their
home stadium, on their home pitch. Tell me how how
(15:00):
you know? Is that exciting or is that post another
challenge or does that just give you more of a
footprint to grow in the US playing against the US team.
Speaker 10 (15:10):
Oh, the way the Club World Cup is organized is
really interesting because that that will allow us to get
in a different cities. I mean, you'll see for the
group stage we will be in LA but also in Seattle.
And for us, that's also a way to go and
meet our community and fans and and and once again
(15:32):
try to expand our footprint in the different key cities.
Speaker 5 (15:37):
So tell me a little bit more about the l
A House that you were saying. I mean, you have
the stores already here and like you said, l A
La New York. So tell me how this is going
to Okay, Yes, so how it's going to be different.
Speaker 10 (15:54):
The concept of it was really to bring the best
of what what we are are and and and you
know a little bit about the positioning of Paris Rama,
which is so unique in the football world. We were
maybe the first club too to move into this what
(16:14):
we define culture, you know, and and create a bridge
for the for the young generation of fans around sport, music, art, fashion.
And the concept is really to to bring the best
of what we are doing to highlight maybe some new
and high level collaboration that we're going to launch, specially
(16:36):
in in Los Angeles. Yeah, it's the concept is really
too u to create a space where the community, the
local heroes, the all all the meeting that we can
organize from a business perspective, but also to connect with
our local funds, you know, is like welcome there to
(16:58):
to the Pejure House for two weeks.
Speaker 5 (17:02):
And you said it there that our culture, music, These
are the things that you intersect and obviously every team
that's coming over from internationally is going to want to
connect with US fans. But how you're doing that differently
and capturing you know, the US audience, is that exactly
what you're leaning into the culture of it is different
(17:25):
for you guys, do you think.
Speaker 10 (17:27):
I think that the main difference between us and the other.
And with a lot of respect, we've been like so
in advance on this one because that was a part
of the project in two thy eleven when the chairman
took over the club to make this a successful brand
on the pitch, but also asking to build this global
(17:50):
and life start. And at the time in two thoy eleven,
you know, the club were not like open to this
as act of creating the bridge.
Speaker 6 (18:02):
So so so.
Speaker 10 (18:03):
I'm not saying that what the other club doing is nothing,
but we always try to to be the first and
and and and I think that the consistency and the
credibility that we get from since twenty eleven is unique.
(18:24):
So yeah, that's maybe without any kind of urds. You
know that we always think differently and the position the
positioning of the club being like the Club of the
New Generation is like super important and drives all the
(18:44):
kind of initiative that that we're doing.
Speaker 5 (18:47):
I love, yeah, I love that the Club of the
New Generation. And the interesting thing here too, and one
of the things that we're really diving in on is
is unlocking this this market in the US and in
a way that hasn't really been done before in soccer
really even here. So do you think, you know the
importance of being here and doing all these things to
(19:09):
unlock the US fan base is because you think it's
the next generation of fans or or the next way
to unlock new business for you guys.
Speaker 6 (19:19):
Yes, of course it is. And we already know that.
Speaker 10 (19:24):
Maybe soccer's soccer what we call football, but soccer ranks
a fifth in popularity in US behind American football, basketball, baseball.
Speaker 4 (19:35):
And mma mma.
Speaker 6 (19:37):
Sorry.
Speaker 10 (19:38):
So we have a lot of works to do to
to to increase the popularity of the spot and we
believe that when it comes to this young new generation
of fans, whatever spot we're talking about is really to
go into their ecosy time in a way and create
(20:02):
this bridge, you know, because they are not only fan
of basketball, they are a fan of basketball and football,
of music, of fashion. So we need to really to
re enforce this this strength of the club which is
once again unique for me.
Speaker 5 (20:20):
And how big you know, do you think this is
in terms of from a business perspective, if you do,
you know, break out and get this new market really
signed on to soccer to p s G. How big
can it be for you guys from a business perspective,
from a growth perspective.
Speaker 10 (20:40):
It's had to to to give you some some numbers.
But the fact that we will be in town for
two weeks, and that's just once again the beginning we
we we started like earlier, maybe on a small scale,
but the fact that we will show during these two weeks,
(21:02):
will and not only in LA, would be a part
of the Fanatic Festival in New York. We're going to
make some really big announcement when it comes to cost
collaboration with American Brand and tis a Rama.
Speaker 6 (21:23):
So how to.
Speaker 10 (21:25):
Give you numbers, But what I really want to say
is like the US market is a key market for
the next couple of years for Parison Rama.
Speaker 5 (21:34):
And you know, you obviously talked about the La House
and having that in LA for two weeks, but across
you know, the US. You said eighteen fan clubs. I
think you said, how are you planning on working with
them specifically in while you guys are here?
Speaker 10 (21:52):
Yes, of course, and we're going to do the same
thing with the seven academy that we have all around
the US. We're going to organize some viewing party for
the game, because of course not all of them can
fly to l A. But at least we'll have different
kind of events dedicated to the fact that Paris Arama
(22:18):
is in the US.
Speaker 5 (22:19):
And after, you know, the club World Cup is over,
how do you plan on keeping the footprint here and
keeping the excitement about the club?
Speaker 6 (22:32):
That will be like on different side, I think that.
Speaker 10 (22:36):
We have a strong when it comes to the community
give back to the community. We have a big plan,
you know, just not to to be there and go
back to Paris and forget about the community who needs
some helps or we have a big project around the
around the on on this path and then it will
(22:59):
be more on the you know, the connection that we'll have.
Look at it and not only on men's football, but
also women's football. You know that we have a women's
team as well. We have some American player, so it's
more we're going to use to create this relationship and network.
So then yeah, that's that will go along all the
(23:25):
announcement we're going to do over the ten days.
Speaker 5 (23:28):
Yeah, I'm really glad that you brought up the women's
side there, you know, because just because this is the
men's Club World Cup and next year we're hosting the
men's World Cup, doesn't mean that it also can't benefit,
you know, the women's side. So you are so one
of your plans is to then introduce your women's team
over here. Are are you planning on having them come
play or anything like that or how do you envision.
Speaker 6 (23:52):
That's that's what we're trying to achieve.
Speaker 10 (23:55):
But the canon of the women's competition is also complicated,
you know, and we cannot have the full team because
they are all in their.
Speaker 6 (24:08):
Own national team.
Speaker 10 (24:11):
But we already get some contact with with some other
women's team and we will go from there, you know,
just to highlight the fact that maybe one plus one
it goes three, you know, even if I'm not competing
in the same area, we can we can together join
our first our strength, you know, and and and highlight this.
Speaker 6 (24:37):
Football as well, women's football as well.
Speaker 7 (24:41):
As PSG's Chief brand Officer, Fabian Allegra speaking with our
own Vanessa Perdomo. It's part of an ongoing series where
Vanessa speaks to some of the key decision makers and
players in the world of soccer as we get closer
to the FIFA World Cup coming to the US up. Next,
we turn the basketball and talked well none other than
Ice Cube about the new Big Three season.
Speaker 3 (25:03):
You know, these guys have played for championships, so you know,
it's pretty cool to see them still with the hunger
and the fire, and that's what people want to see,
you know, people want to see real passion on the court,
not you know guys you know, worrying about you know,
(25:23):
managing minutes and all this kind of like crazy happening
in the NBA.
Speaker 7 (25:30):
I'm Michael Barr. You're listening to the Bloomberg Business of
Sports Bloomberg Radio around the world.
Speaker 1 (25:49):
This is Bloomberg Business of Sports from Bloomberg Radio.
Speaker 7 (25:54):
Thanks for joining us on the Bloomberg Business of Sports,
where we explore the big money issues in the world
the Sports Bar along with my colleague Damien sas Sauer
and Vanessa Brodomo. Joining us now is none other than
ice Cube. He's a movie star, hip hop legend, and
he's CEO and co founder of the Big Three and
its new season is just getting underway. Ice Cube, Welcome
(26:17):
to the Bloomberg Business of Sports. Yea, yay, thanks for
having me. Man, you're an old friend of the show.
We've talked with you before, and I'm so proud that
you started the Big Three and it's still going strong
and the new season has started.
Speaker 3 (26:35):
Tell us about it. Then it started off with a bang,
I go. Last week we had two of our rookies
get into it. Yes, when I say, I'm talking about
Dwight Howard and Lance Stevenson, Dude.
Speaker 2 (26:50):
They got ejected, right, I mean, and then you had
Stephen Jackson and Jalen Johnson. I mean, what's going on?
I mean there's a lot of bad blood.
Speaker 4 (26:57):
Yeah, you know, these guys want to win. You know,
it's passion.
Speaker 3 (27:02):
When I talk about the Big Three, I want you
to bring your game, not your name.
Speaker 4 (27:07):
So as are coming to win.
Speaker 3 (27:11):
And you know you could see we allow players to
be themselves.
Speaker 7 (27:15):
Now.
Speaker 3 (27:16):
We don't condone no fighting and touching each other. You know,
we we let them trash talk, We let we let personalities,
Uh you know free you know, you don't have to
be a robot and play in.
Speaker 4 (27:29):
The Big Three.
Speaker 3 (27:30):
Uh, but yeah, you know, we have to talk to
our rookies and let them know.
Speaker 4 (27:36):
We don't want you to tell me to the stands.
Let's keep it on the court, have fun.
Speaker 7 (27:42):
What's the same. You can take the athlete out of
the game, but you can't take the game out of
the athlete.
Speaker 4 (27:47):
Man for real.
Speaker 3 (27:49):
You know, these guys have played for championships, so you know,
it's it's pretty cool to see them still with the
hunger and the fire, and it's what people want to see,
you know, people want to see real passion on the court,
not you know guys you know, worrying about you know,
(28:09):
managing minutes and all this kind of like crazy just
happening in the NBA.
Speaker 11 (28:17):
Excuse I want to ask that this year is big
for the Big Free for so many reasons. But you're
introducing a city base model for this for this year.
Why did you choose to introduce that and why take
these specific cities?
Speaker 3 (28:29):
Well, every you know, every team, you know, all the
teams were centrally owned by the league, and we had
twelve teams, which is a handful, and knowing that we
want to expand one day to sixteen twenty, you know,
maybe thirty one day. We knew we couldn't keep it.
Speaker 6 (28:50):
As a.
Speaker 4 (28:53):
Centralized model.
Speaker 3 (28:54):
You know, we knew to really blow this league out,
we're going to have to plan our flag and in
these cities around the country, you know, even around the world.
You know, we're looking at London, in Mexico City. But
we just we felt like this is the how we grow.
And you know, right now we have four great owners.
(29:19):
When the process of selling our other four teams, but
we got owners in Los Angeles, Houston, Detroit.
Speaker 4 (29:28):
In Miami. So you know, this is the start.
Speaker 3 (29:33):
Of of you know, the league actually growing.
Speaker 2 (29:38):
Well, I mean, let's just talk about you know, you know,
the growth of the league, right, and let's just use
the NBA as a barometer, right. I mean, if you
look at these incredible valuations that these teams are going for,
I'm talking the NBA here. I mean, it's something like
twelve times revenue, like crazy, crazy, crazy, crazy numbers. And
you know, I'm just curious, you know, as an investor,
if you're a team owner in the Big Three, are
you are you? I mean, like it is are you
(30:00):
thinking about that. I mean, do you find that your
stakeholders and the team owners in the Big Three that
you know they're in it for the long haul, that
they're in it about the growth of the league and
the love of basketball, or are they in it like
a lot of these private equity guys are to generate
a profit. I'm just curious to hear your thoughts on that.
Speaker 3 (30:16):
No, it's great, we got we got guys I think
that are really both. You know, they love the game,
they saw that this was a great investment, and they
saw that you know, their their money could you know,
double triple, quadruple very quick. And so you know it's
(30:38):
smart all the way around. But we want people who
can help us grow the league, so everybody's additive. We're
not just grabbing you know, celebrity money or you know,
you know, any kind of family funds or things like that.
You know, we're really looking for people who want to win,
want to run us a pro sports team, and you know,
(31:05):
want to win the Doctor J Trophy, which is our
championship broken and so that's what's gonna make the league great.
You know, it's really gonna be about who can put
the best team together. To win, and you know, I
think everything else will falling place. You know, it's still
such a young league. If you can kind of project
(31:28):
in ten years or even fifteen where we're gonna be.
Speaker 4 (31:33):
I forget about it.
Speaker 3 (31:34):
And you know how much the value of our teams,
you know it's gonna it's gonna be astronomical.
Speaker 2 (31:41):
Well, Michael, do you remember just about two maybe three
years ago when we had Ice on the air and
Ice was afraid to talk about this because he's afraid
the NBA was gonna come down, and because they view
him as a competitor. And now look at Big Three,
I mean how it stands on it to a CBS.
I mean, like, are you kidding me?
Speaker 4 (31:58):
Ice?
Speaker 2 (31:58):
I mean, look at what you've done. Look at the sponsorships,
your sponsors, your corporate sponsors. I mean, the growth of
the league in such a short period of time, just
two three years is it's really I don't think I've
seen anything like it.
Speaker 4 (32:09):
It's amazing.
Speaker 3 (32:10):
You know, not since UFC has a league been able
to really stick like the Big Three. And we are
proud of our great sponsors. You know, Monster Energy been
there for a long time, but now we got you know,
Starter and eminem Mars, they have PNG Corps Capital one
(32:38):
dude wipes, you know what I mean.
Speaker 4 (32:39):
It's like.
Speaker 3 (32:41):
Stuff, and you know, we expect that to grow. We
do have the best product in the summer. And you know,
we hit those you know fans who you know after
the NBA Finals, they really waiting for the NFL to start.
(33:01):
So it's a lot of fans out there just you know,
waiting to be entertained.
Speaker 4 (33:07):
And we think we got it with the Big Three?
Speaker 7 (33:10):
Are you reaching out more to some w NBA stars?
And I was thinking about this because Caitlin Clark. Yeah,
I mean, right now she's with Indiana, but boy, if
she came to the Big three, she would clean up.
Speaker 2 (33:27):
I mean, right, the average n WNB salary is one
hundred and fifty, not even one hundred and fifty, one
thousand dollars a year. I mean, she goes to the
Big three, I mean, forget about it, right, I mean,
I mean that's a good.
Speaker 4 (33:36):
Point, Michael.
Speaker 3 (33:38):
Coming out of college, we offered her a two year
contract five million dollars a year, you know, plus little
equity here and there.
Speaker 7 (33:50):
Hell, I'll play for you for that, you, Michael, bar.
Speaker 4 (33:55):
We knew Johun Loocke.
Speaker 3 (33:57):
You know, we we we heard from our sponsors that
it would unlock you know, millions of dollars if she
did that, kind of like a you know, a Billy
Jean King moment. But you know, her agents kind of
blocked us from speaking with her and her family, so
(34:18):
we wasn't able to really bring that to light. But
but yeah, we did make the offer. If you if
you go back and look, you'll see us, uh make
that real offer, you know, because we knew how big
it would be for the Big Three, and we thought
she could have some success because of her style of play.
(34:38):
You know, she could shoot from far, she can you know,
really run the run the game point guard wise, and
we've had some small point guards have success in the
Big Three, so we felt like, you know, she actually
really had a shot to be successful.
Speaker 4 (34:55):
Wasn't just a gimmick.
Speaker 11 (34:57):
Well, the hard thing there is obviously she's competing in
the I mean w n B. At the same time,
I know what you mean. It it would have been
you know more profitable for her salary wise to play
in the big Street. You're okay, interesting, Yeah.
Speaker 4 (35:15):
Playing three and keep you know w n B a contract.
We was gonna make it work.
Speaker 3 (35:22):
We only had one game that was a conflict, and
when we looked at the schedule, well there was it
was last year.
Speaker 4 (35:29):
Actually it was one game that was a conflict. We
made the offer.
Speaker 11 (35:35):
So do you think you'll look at other WNB players
that I retired WNBA players who wouldn't have to make
that decision to continue to play both at the same
time they're done. Like how Dwight Howard's doing after this?
Speaker 4 (35:47):
I don't know, because you know, with her it was
a special situation.
Speaker 3 (35:50):
Like I said, you know, our sponsor has made it
clear that getting her would unlock millions of dollars and sponsorships,
So we don't know if it's going to be another
player with that impact. That being said, our player captains
get to pick who they want to play with, so
(36:12):
we don't have general managers. The captain of the team
picks his co captains. So if we ever had a
captain pick a w NBA player, she would be in lee.
Speaker 4 (36:26):
Oh wow, that's awesome. Came on.
Speaker 7 (36:30):
What have you learned when we first talked to you
as you started the Big Three? Today? As a business model?
Wise attention that you have paid a lot of time
and effort to to make the Big Three work.
Speaker 4 (36:48):
Oh wow, you know it takes.
Speaker 3 (36:53):
It takes a great team, of course, a very very talented,
hard work and people who are relentless. But but also
you know what I learned is, you know, a lot
of money people like to just meet they bored, they
(37:14):
got their money, and you know, why not have a
meeting with ice Key, you know, to tell him no,
you know what I mean.
Speaker 4 (37:22):
So it's like.
Speaker 2 (37:24):
That that was.
Speaker 3 (37:26):
Surprising to me, but I understand, you know, So we
try to avoid that as much as possible. And you know,
at the end of the day, it is what it is,
and we want people who are passionate. And you know,
if we get that, you know, we feel like we're
(37:49):
the perfect partners to work with because we're you know,
we don't we don't have to be right. We just
want to get it right.
Speaker 7 (38:00):
Ice Cube, you are a friend of the show and
you are welcome anytime you want to come talk with us. Man,
we really do appreciate it. Thank you, appreciate y'all. Layer
special special thank you to ice Cube for joining us now.
If you missed any of that conversation, be sure to
check it out now on the Bloomberg Business of Sports podcast.
Subscribe now on Apple, Spotify or wherever you get your podcasts.
(38:24):
And that does it for this edition of The Bloomberg
Business of Sports. For my colleagues Damien Sasaur and Vanessa Perdomo,
I'm Michael Barr. Tune in again next week for the
latest on the stories moving big money in the world sports.
You are listening to The Bloomberg Business of Sports from
Bloomberger Radio around the world.
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