October 10, 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:
- Bloomberg Wealth reporter Dylan Sloan on Cristiano Ronaldo officially becoming a billionaire this week
- Bloomberg Businessweek contributor Michael Croley on MLB slugger Mike Trout's plans to build a high-end and high-tech golf course in New Jersey
- Former NFL Pro Bowler and Fox Sports NFL analyst Greg Olsen on the NFL season so far and Youth Inc.
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Episode Transcript
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Speaker 1 (00:02):
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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.
Speaker 2 (00:53):
I'm Michael Bahr and I'm Vanessa Bremo Damien.
Speaker 7 (00:56):
We'll be back next week. Coming up on the show,
we'll talk with former NFL Pro Bowl tight end Greg Olsen.
I said, Greg Olsen.
Speaker 9 (01:05):
Yoke, he steps up close Olson touchdown.
Speaker 7 (01:11):
We'll talk to him about the NFL season so far,
and about his Youth Incorporated project. We'll also talk about
an MLB slugger that has his site set on a
new high tech golf course outside of New York City.
All that and more is on the way on the
Bloomberg Business of Sports. But first, a new athlete has
(01:32):
reached billionaire status this week.
Speaker 2 (01:34):
That's right, Michael.
Speaker 6 (01:35):
Superstar Christiano Ronaldo has become the very first billionaire active
soccer player, with a networth climbing to one point four
billion dollars according to the Bloomberg Billionaires Index.
Speaker 7 (01:46):
That's Damian Sasaur Money. Bloomberg's Dylan Sloan has some reporting
on this. He's here now to break down how Ronaldo
reached billionaire status. Dylan, Welcome to the Bloomberg Business of Sports.
Speaker 3 (02:00):
Thanks so much for having me. Appreciate it.
Speaker 7 (02:03):
Give me some tips because I want to get paid too.
How did he become this rich?
Speaker 3 (02:10):
You really said it. I have to say, Saudi Arabia
is a really big part of that. So we've been
looking at, you know, at the Bloomber billionaires in dex
a number of professional athletes for a while, especially in
the soccer world, and one of the things that stood
out to us about Ronaldo and his wealth is that,
you know, he's been one of the best players in
the world, one of the best paid players in the
(02:30):
world for decades now at this point, but it really
is this transfer to Saudi Arabia in the past four
years that's really leveled up his wealth in a different way. So,
you know, he played for years in England, in Spain,
edist in Italy as well, but the amount of money
that he's been paid at all Nasser, his club based
in Riod has really been what's brought to move to
(02:52):
the line and led to this one point four billion
dollar fortune that we've calculated for him.
Speaker 6 (02:56):
I think the interesting thing there is that you brought
up all the different places he's played in how the
those things have gone into his net worth. But it's
really the first time that we've seen an athlete reached
this billionaire status because of their play on the field, right,
Can you elaborate on that uniqueness?
Speaker 3 (03:09):
Yeah, absolutely so. A number of the other athletes that
we looked at recently, we looked at Feeder a few
months ago. We've done valuations on other athletes like Michael
Jordan and Lebron James. A lot of those come from
off the field, from endorsements, from investments something like that.
For example, Roger Fetter, who we looked at a few
months ago, the biggest chunk of his net worth is
actually from this investment and on holdings the Swiss running
(03:31):
shoe company that he made. But for an Aaldo, it
really is his earnings. It really is the you know,
what he's made from playing on the field. And while
he does have a number of outside investments that we
dug into, none of those have really been significant drivers
of his net worth. And you know, that's a testament
to him. I think that it really is his star power,
his talent on the field, and what teams have been
(03:52):
willing to pay up for him. That's that's led to
this fortune.
Speaker 7 (03:54):
Now let's bring it in the focus because part of
this one point four billion dollars because he also has
a contract with our money, our money and also Nike.
Now I don't have any contracts except with PF Flyers,
and we can see how that went. Can this lead
to more endorsements for Ronaldo? And can we see that
(04:17):
fortune grow even more? Right?
Speaker 3 (04:18):
And one of the things that we've seen with a
lot of other athletes in this space, is that even
after they retire, these endorsement deals have become a significant
source of income for you know, years or even decades afterwards.
So that Nike deal for Ronaldo is still ongoing. You know,
he's been earning tens of millions of dollars a year
as a major brand representative for them, and we do
expect to see Ronaldo's fortune continue to grow, you know,
(04:40):
over the next years and decades. Actually, you know, he
recently signed an extension at the Saudi Club on Oser
this past summer. We haven't included any of those earnings
in our valuation of his net worth. That's not money
in the door yet, but that'll be you know, it's
looking like likely hundreds of millions of dollars at least,
and that's just in contract earnings. And then of course,
like you're saying, you know, potential future endorsement deal is
(05:01):
that he hasn't even signed yet. So for him, it's
really been you know, here now in the twilight of
his career. He's in his forties. You know, we're not
sure how much longer he's going to continue to play,
but certainly there could be a lot more money coming
in the door for him, I.
Speaker 6 (05:13):
Think the interesting thing to look at, and Michael you
point it out there is like the getting to this
level network in the Saudi contracts and all that things.
But it also came with a lot of criticism right
when it first when it first happened. And then at
that time you also had Messi go to MLS and
there was this comparison of He's obviously going to get
more money in his contract, but will Messi get more
(05:34):
in terms of endorsements for being in the US market?
So how would you compare the two as in what's
more important? What's more significant? Was it Messi what he's
done for the MLS being in the US market or
Ronaldo in Saudi.
Speaker 3 (05:46):
Yeah, that's a really interesting comparison in something that we've
looked at closely for this story. I mean, you know,
throughout throughout both of their careers, which have progressed, you know,
on very similar timelines. They've been two of the best
players in the world, two of the best paid players
in the world. But yeah, really has been and a
market difference over the past few years, like you're saying,
with Renald going to Saudi Arabia, Messi coming to the US,
But in some ways those two deals are actually closer
(06:07):
than you might think, and both of them are structured
in sort of new ways that we haven't seen with
major soccer contracts in the past. The big thing there
is both of those two athletes are are reportedly getting
an equity stake in part of the team that they're
playing for. As part of the deal, Messi is expected
to have an option to purchase part of Inter Miami
become a co owner of the club there. And then
(06:29):
Ronaldo's new contract to this extension over the summer also
reportedly includes an equity stake in on user in the team.
So that's something that you know, players just haven't really
been able to command in the past. This is sort
of a new uh, a new perk, a new addition
to this type of deal. And given the direction that
we've been you know, seeing sports franchises, not just in
(06:50):
the soccer world, but you know across all leagues and
all sports going over the past few years, that could
end up being something very lucrative for the both of
them down the line.
Speaker 6 (06:57):
It's something that we've tried that they've tried to do
in the NFL. Right, some NFL players have tried to say, hey,
put that in my contract, and they're a little bit
I mean, they said no.
Speaker 2 (07:05):
It was like a quick no from the NFL.
Speaker 6 (07:07):
But do you think that the star capital that Messi
and Ronaldo have for the sport of soccer is what
allows them to do that?
Speaker 3 (07:14):
Yeah? I mean I think I can't speak too much
to sort of what's going on inside the MLS, but
I know that when that deal was announced, that was
a huge draw for them and a huge draw for
the league. And I know that Bloomberg recently put out
a story sort of talking about that about you know,
the star power of Messi, and not just for inter
Miami specifically, but also for Apple, who's the mls is
exclusive streaming partner, and for that whole ecosystem of business
(07:34):
around there. That's been a really big draw. I should
also mention that as part of Messi's deal as well,
not only was it an equity stake in Intro Miami,
but also there's a revenue sharing agreement with Apple as
part of that deal. So the terms of that aren't
disclosed and it's hard to tell exactly what his cut
of that is, but he's reportedly receiving income as part
of the Apple MLS streaming deal. So again just another
(07:56):
example of sort of the new innovative perks and mechanics
that you know, he and other star athletes are able
to command in some of these deals.
Speaker 7 (08:04):
I want to talk about al the team that he
went to ye Base. Before he went there, you didn't
know anything about this team. Who what what do they do?
Now they're all over the map around the world.
Speaker 3 (08:20):
Right, And you know, he was sort of one of
the first players to really make that move to add
some serious star power to the league. And since then
they've seen a number of other major European players making
the move over there. Kareem Benzema, who's a teammate of
Ronaldo's at Real Madrid, moved there a few years ago.
Another Portuguese player, Joue Felix joined as well, so you've
got a number of other athletes sort of making the
trip now. He was sort of one of the first
(08:41):
people to break ground. But certainly, and you know, they've
done a good job of not just playing their games
in Saudi Arabia but also playing internationally. I think that
you know, they've played some some matches in Hong Kong
that have been really well received, and you know they're
definitely growing, utilizing Ronaldo's star power for sure, but becoming
much more of a global brand.
Speaker 6 (09:00):
And what we saw actually this year with the Club
World Cup was Al Hilal. They advanced to a stage
that no one really thought they were going to beat
Manchester City and advancing to the quarterfinals. So it seems
that it would seem that the bet they're making on
soccer is paying off. Do you think we'll now see
more players going there or be taken more seriously as
a league?
Speaker 3 (09:19):
Yeah, I mean in terms of players, I have to say,
just the financial power that they're they're able to wield,
and you know, these deals that they're able to offer
players is certainly proving to be a big draw. I'm
Ronaldo obviously a clear example of that. I mean, you know,
if you're able to play athletes hundreds of millions of
dollars and not even for long term deals, but you know,
for Ronaldo we're talking about two year deals. These are
(09:40):
players who are towards the end of their careers, not
necessarily young players in their prime. So you know, if
you have a league and if you have owners who
are willing to pay up and attract those types of
players can definitely be a real opportunity for growth.
Speaker 7 (09:53):
I have to bring this up. I know I'm going
off the board here a little bit. But Lebron James,
he fooled me. I have to admit it was, as
everybody knows, twenty ten, he had what was called the Decision,
which was a big televised event that he was going
(10:14):
to Miami, and then several days ago he said, Okay,
I've got a big decision here. I'm like, oh, is
this going to be the end of his career? And
then he's selling Koonnac. What's your decision in this fall?
Speaker 8 (10:33):
Man?
Speaker 7 (10:33):
This is tough. In this fall, I'm gonna be taking
my talents to Hennessyvsop. You have thought, did he fool
you like he fooled me?
Speaker 4 (10:46):
Not?
Speaker 2 (10:46):
I not?
Speaker 6 (10:48):
I you know, I'll say I when I saw it,
I was like, this is this is going to be
some sort of giving.
Speaker 2 (10:54):
I didn't know it was gonna be like that. I
didn't know if he was going to fake out people
that hard. But I, you know, I'm very scared.
Speaker 6 (11:00):
Of people these days, Michael, and I just think there's
no way Lebron is announcing his retirement the way people
want him to do.
Speaker 7 (11:08):
Anythink, Dylan, your thoughts, man?
Speaker 3 (11:10):
I saw social media was a bus Actually, yesterday I
was revisiting our valuation of Lebron James's networth. We published
that last summer, just over a billion dollars for him,
just in case for that contingency. But yeah, you know, definitely.
I don't know if I call it a letdown necessarily,
but not quite what people expected when that one came out.
Speaker 7 (11:28):
I guess you won't see Christiano Ronaldo for Boone's Farm wine.
You won't see that coming up any times, right, Dylan,
you are the man, and I appreciate you coming down
here and talking with us on Bloomberg Businesses Sports. A
great article, folks, by the way, go to the terminal
and check it out. You will really appreciate it. Thank
(11:50):
you again, Dylan, We appreciate it.
Speaker 3 (11:51):
Thanks to both of you. Great to chat up.
Speaker 7 (11:53):
Next, we turned to a superstar slugger with big plans
for a high tech golf court.
Speaker 9 (11:58):
Here's the next pitch is lifted high and this ball
is blasted down the left side and that lands in
the second deck. It is trout to hear a home
run number thirty seven of the year. Boy, that ball
got out in no time and Trout will circle the bases.
Speaker 7 (12:16):
With for Vanessa Bernomo, I'm Michael Barr. You're listening to
the Bloomberg Business of Sports from Bloomberger Radio around the world.
Speaker 1 (12:38):
Get the news you need at the click of a
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Business of Sports from Bloomberg Radio.
Speaker 7 (13:00):
This is the Bloomberg Business of Sports, where we explore
the big money issues in the world of sports.
Speaker 2 (13:05):
Michael Barr and I'm Vanessa Erdemo.
Speaker 7 (13:07):
Damien will be back next week.
Speaker 6 (13:09):
Los Angeles Angels superstar Mike Trout is planning a huge,
high end golf course just about two hours south of
New York City that's in New Jersey, his home state.
Speaker 7 (13:18):
And from the looks of it, it plans the rivals
some of the most exclusive and high tech courses in
the country. Bloomberg Business Week contributor Michael Crowley has reporting
on this. He joins us now to discuss Michael, Welcome
to the Bloomberg Business of Sports.
Speaker 4 (13:35):
Thanks for having me.
Speaker 7 (13:37):
All of a sudden, Mike Trout is see this is
why I wish I was playing golf where he is
debuting high end golf club, a high end golf club
in New Jersey. Tell us about that, and this is
he can make a lot of money out of this.
Speaker 4 (13:55):
I think, yeah, I think the market. I think if
you do it right, there is a market to make
some money off of this. But I think the reason
he's doing it is I think he was looking at
things post baseball career. Not to say he's near the
end of his career would be for me to say anyways,
but I think that he said that they were presented
with some opportunities to buy a course, and there was
a businessman in New Jersey that he knew that had
(14:18):
done some work on his home or his company had
done some work on Mike's home and brought him an
opportunity to actually build a golf course. And then Old
Silica San Cory, so he jumped at the chance to
do it. He got into golf during COVID like a
lot of Americans, and took to the game. He played
(14:39):
it growing up, but he really fell into it during
COVID and it seemed like a good opportunity, he said,
for him and his team to go ahead and take
a shot at building this course in Jersey.
Speaker 2 (14:49):
It's interesting.
Speaker 6 (14:49):
I mean, like you said, instead of buying one that
was already existed, building one from scratch and having Tiger
Woods design the course. What kind of you know, value
do you think that adds to something to a project
like this.
Speaker 4 (15:05):
Well, I think it's fair to say if you have
a high profile athlete like Mike Trout, that's going to
draw a lot of attention, and then you're going to
get a lot of high networth individuals who want to
be in that orbit. I don't think that's telling any
tales out of school. But you're also going to get
a lot of professional athletes that are also a very
high profile and successful, and they kind of understand that
(15:25):
when they go there, maybe they won't be sort of
monkeys in a zoo, right, They'll actually be able to
sort of be themselves, be relaxed, kind of chill out
and sort of understand that they don't have to be
on that they're not the most famous person in the club.
Maybe that day. I think that that has a lot
to do with you know, why you would build a club,
(15:46):
then you can sort of create the culture of that club,
and I think that that sort of adds some value.
And I think with Tiger coming on board, his design
firm is only done about a dozen projects, even though
they've been around since two thousand and six. Now, some
of that, I don't know all the particulars of that.
I'm gonna guess some of that's because he's still busy
playing a lot of golf. But I would also guess
it's because he's particular about what kinds of projects he
(16:07):
wants to do. And it makes sense that one hope,
one high profile athlete would pick another high profile athlete
who's in that business to design his course and help
him create the kind of atmosphere as well as field
of play that he wants.
Speaker 7 (16:22):
Now, this is in Millville, New Jersey. When it will
open in April of twenty twenty six, at least that's
what they're predicting, and Trout will open it up, which,
by the way, Millville is about two hours south of
New York City. Now, what's happening next year in New
York City That following month. We're talking Cup championships, man,
(16:45):
and you know soccer, and it's gonna be huge. I'm
wondering if they're going to benefit from all of the
soccer fans coming in town.
Speaker 4 (16:56):
No, probably not because it's going to be a private,
exclusive club. They're going to cap it two hundred and
twenty seven members, so there's not going to be any
sort of public play. You know. We've done some stories
like this at Pursuits for Bloomberg about sort of the
high end private golf market and it's really booming right now.
We did a story about South Florida last year about
(17:16):
eight courses are going in just north of West Palm Beach.
Those are all super high networth individuals who are doing that.
But there are these kinds of destination courses that they're called.
They're coming online everywhere. There's a big one coming on
in Texas that should be opening up later this year.
And I mean when I say Texas, I mean the
middle of nowhere. Like you fly to Amarillo, then you
(17:38):
drive two hours east to get to this gorse. So
these are high networth individuals that want to create sort
of exclusive opportunities. You go in, you play eighteen the
first day you arrive, maybe thirty six the next day,
and then you play eighteen before you leave. And so
most of these guys, as we said in the article,
they're flying in private. Typically there's going to be a
(17:58):
helipad at Trout's course instance to get you. You know,
I think if you drove, it's thirty minutes from the
private from the private airstrip, but you can be there
in six minutes via chopper if you like. And they're
all creating different ways of experiencing the property. I think
one of the most interesting and unique things about Trout's
(18:18):
property that I had not heard before was this idea
that if Michael, you pulled your car in there, you
wouldn't see your car getting ntil you leave. They would
whisk it away to some underground garage they've got on property,
and when you come back to the car, it's been
completely detailed inside and out.
Speaker 7 (18:34):
WHOA, oh.
Speaker 4 (18:38):
Yeah, I mean that's what I'm thinking. I'm thinking, I'm
just gonna pull up like I'm lost, show up an
hour later. You just get a car.
Speaker 2 (18:47):
The members in New Jersey just go there just to
get their car, right.
Speaker 4 (18:52):
That's right. So I think that what we're seeing though
in this in the private golf market, you're just seeing
a lot of that, a lot of this, and part
of is a golf boom. And part of what happened
was that people couldn't get into a local country clubs
where they lived like they literally the rosters got full
very fast. And then if you had certain means, it
(19:14):
just became more interesting and perhaps even easier if as
weird as that may sound, to just go somewhere else,
right and go play for three days and then come back,
just fly.
Speaker 6 (19:23):
Away to New Jersey really quick for a little bit.
We're the middle of Texas. Yeah, it's interesting. You know
about the exclusivity part of it, And tell me about this,
because I'm not necessarily an expert on Does that mean
then that they can't or they won't host a PGA
or a live golf tournament in the future.
Speaker 4 (19:43):
You know, I didn't ask them about that. I'm not
sure that the course is designed to such to be
what we would call a championship course. It seems like
it's a course that's designed more for fun and entertainment,
which means in a way, I guess you could say
that means easier, But I don't think that's anything that's
part of their aspirations. You certainly do have clubs that
are in that sort of private, high end market that
(20:05):
do have aspirations for that, but that becomes kind of
a whole other ball of wax sometimes where everything around
the club is kind of geared for those seven days
that the tournament will be there, and so you could
be a member of a club like that, but it
really doesn't feel like you're a club because everything's kind
of geared towards, you know, those seven days you host
(20:26):
a tournament. My impression from what I got from the
team was I don't see for see them doing that.
Speaker 9 (20:31):
One.
Speaker 4 (20:31):
I don't think the course is built to sort of
host tournaments.
Speaker 7 (20:35):
Two.
Speaker 4 (20:35):
I think it's more about what he wants to do
is take some of the stuffiness out of golf, which
has been happening for a little while now. But instead
of just going out with four players, maybe we go
out six or seven or eight. As long as we
kind of keep pace and don't slow anybody down. We
can do it that way. If we want to play barefoot,
we can play barefoot, you know. I mean, there's a
lot of things that he wants He wants it to
(20:56):
be a serious golf club, but he doesn't want it
to be a stuffy golf and that's a hard that's
a hard needle to thread that a lot of these
places are trying to sort of figure out in this
kind of new version of golf that's happening right now.
Speaker 7 (21:09):
This new course in Violand, New Jersey. It's right by Millville, which,
by the way, is Trout's hometown. And I wonder if
the people that designed the course, we're thinking about the
Augusta National Golf Club.
Speaker 4 (21:24):
Yeah, I think that's it. I mean, Tiger's design sort
of ethos really comes from the success he's had at
Augusta and and sort of how that course sets up.
Augusta is an interesting case in the golf world, and
that it challenges the best players in the world obviously
every April. But for a regular player playing the appropriate teas,
you can still have a lot of fun and getting
(21:46):
around that course. It doesn't beat you up. And part
of the way it does that is it doesn't have
high rough, right, So if you miss the fairway and
you're off in the rough, the rough is not going
to be so hard that you can't advance the ball
or you can't get around it. The really difficult thing
about Augusta ar its greens. That's its sort of number
one defense. There's a lot of contour, humps and bumps
(22:06):
in the greens, as we say, and that's the way
Tiger sets up a lot of his courses. They have low, rough,
wide fairways, so lots of opportunity to hit the short grass.
And then when you get around the greens, you have
to start making some decisions. And he usually builds typically
big greens, so they're receptive to aarrant shots as well,
so you've always got kind of a putt. But if
(22:27):
there's a fall off on the green or there's a
contour in the green, that could be difficult. But he
tries to make his courses pretty receptive.
Speaker 6 (22:37):
And this is now Mike Trout's not his first venture
in the world of golf. He's also a limited partner
with the TGL, which is Tiger Woods's league, the Tomorrow
Golf League.
Speaker 2 (22:49):
So do you think that we can expect a lot of.
Speaker 6 (22:52):
What Mike Trout does off the diamond in his post
retirement to really be honed around golf.
Speaker 4 (23:00):
H Yeah, I mean I wouldn't be surprised by it.
I mean, golf, as we know, is a great networking sport,
right and there's a lot of different people from different
types of businesses that play golf and want to be
involved in golf. And I think we're seeing a lot
of that right now. I mean you look at some
of the success of like a show like Stick on
Apple as well as like the Crazy Numbers Happy Gilmore
(23:21):
two got on Netflix, and I think what those two
shows speak to, they speak to sort of a popularity,
is that I would still say golf is niche, but
I would say that niche has gotten larger, right, And
I think trouts both involvement in TGL as well as
this course speak to this idea of sort of a
more kind of mainstream attitude towards golf, as well as
(23:43):
it being a great place in an avenue to find
investors or investments that you're interested in and a way
to sort of conduct business and meet people that are
interested in things that you are.
Speaker 7 (23:54):
We forgot to mention the most neat kid still say
that I guess they can play in the night. I
mean there's a course that's there on this and it's
called the Bullpen. Tell Us about that.
Speaker 4 (24:09):
Yeah, yeah, that's a new thing that's been happening probably.
I'd say that trend is about ten years now, where
you have an eighteen hole what we could consider a
traditional golf course on property, and then you have a
short course what we used to call pitching putts. You
know what, maybe your mom or your dad would stop
in and do nine holes before they came home from work,
you know, just par three courses. But these have been
(24:32):
really becoming popular over the last ten years. It's sort
of really high end public resorts like Banded Dunes and
stream Song in Florida. And then you're starting to see
when people build these clubs, they always want an extra
sort of nine, ten, eleven, twelve holes because some people
just don't have the appetite to go out and play
another eighteen or walk another eighteen. Typically these courses are
(24:52):
always walking only too. So what they did at Trout
National was they decided, like, let's build another one of
these short courses, but with some lights unders so that
we can kind of keep playing and having fun even
after the sun goes down. And that's a trend that
we're starting to see at some of these places too.
A lot of resorts. There's even a business model out
in Arizona, a place that is sort of lights up
(25:14):
at not that's kind of its sort of selling point.
But yeah, it's gonna be a pretty interesting sort of experience.
I think if you're there on property and everything's looser, right,
So they'll be drinks, the'll be fire pits, we'll be
things like that, and it'll be a nice time and
a nice experience to play under the lights, all right.
Speaker 6 (25:30):
Thanks to Bloomberg Business. We contribute to Michael Crowley for
joining us up.
Speaker 7 (25:33):
Next, we turn to former NFL pro bowler and current
Fox Sports NFL analyst Greg Olsen for Vanessa Perdomo. I'm
Michael Barr. You are listening to the Bloomberg Business of
Sports Bloomberg Radio around the world.
Speaker 1 (25:52):
This is Bloomberg Business of Sports from Bloomberg Radio.
Speaker 7 (25:58):
Thanks for joining us on the Bloomberg Business Sports, where
we explore the big money issues in the world of sports.
Speaker 2 (26:03):
I'm Michael Barr and I'm Vanessa pro Domo.
Speaker 7 (26:05):
The NFL season is in full swing and has already
seen some surprises.
Speaker 9 (26:11):
It's first and goal with thirty seconds left.
Speaker 8 (26:15):
Now Warrence goes down. It has to get up, breaks
a tackle, chucks down, jacks away.
Speaker 7 (26:28):
That's right. You want to know about another team. I'm
not even surprised. The Detroit Lions. I love my life. Okay,
I'm sorry. Okay, I'm done.
Speaker 2 (26:36):
I'm going They are quite goodness.
Speaker 7 (26:38):
No rooting in the press box, I'm sorry.
Speaker 6 (26:41):
Joining us now to talk about the NFL season and
more is former NFL pro bowler and current Fox Sports
NFL analyst Greg Olsen. He's also founder of Youth Incorporated. Greg,
Welcome to the Bloomberg Business of sports.
Speaker 7 (26:53):
Yes, it's great to be honest. Appreciate you guys having me. Well,
I want to start with what you are a founder of, with,
which is Youth Incorporated. Tell us what that's all about.
Speaker 5 (27:04):
Yeah, So it's kind of what started as a passion
project of mine a couple of years ago has now
really turned into something that we think is pretty significant.
You know, kind of my backstory of growing up the
son of a high school football coach, and you know,
obviously growing up in locker rooms and around youth sports,
and you know, fortunately for me, I was able to
make a living add of it. But now I am
on the on the back side of retirement. My playing
(27:25):
days are over, and now I'm just a dad. I'm
a youth coach. I spend you know, five six days
a week on the fields with my with my sons,
or in the court with my daughter, on the track
with my daughter, you know, just doing different things. And
you know, over the last couple of years, as they've
gotten older, just kind of looking around and saying, you know,
this is not an environment that I recognize. It's not
a landscape of youth sports experience that I'm familiar with
(27:47):
from my upbringing. And you know, as parents, I think
a lot of people around the country are struggling with
what is the right plan, what is the right approach,
what is the right you know, what is enough and
not enough? And we started I took the content tent
route initially and went out and started having really cool
conversations with some of the biggest thought leaders in the area,
mental health specialists, coaches, trainers, professional athletes, olympians, everyone really
(28:11):
across the sport and just said, hey, what's going on
out there? What do we need to know? And as
I learned, you obviously share with our listeners and kind
of go along the journey with them. And then about
a year or so ago we were into the content.
I was contacted by my now business partner, Ryan Base,
who was working on some things with his time at
Fanatics in the e commerce space around youth sports and
(28:33):
kind of came across some of our content and said, hey,
this is probably a better business aligned than separate, and
we relaunched.
Speaker 7 (28:40):
You think as a.
Speaker 5 (28:41):
Content to commerce type of platform where you can go
on and find all sorts of educational and informative and
entertaining content around youth sports, and then also an entire
platform engine of e commerce to buy your favorite brands
with your you know, with your kids, schools, travel, ball clubs, leagues,
(29:02):
whatever the case may be very similar to how you
would do for your favorite college or professional sports team.
So we've launched, We've been open now live a couple months,
and the initial response has been has been pretty significant.
Speaker 7 (29:15):
I want to talk more about a lot of the
NFL because I need your predictions because I have to
fill out my pick'em charts and all the other stuff.
I'm get to that second, but I would like to
ask you about a fellow colleague of yours, Mark Sanchez.
He is also a NFL color commentator for Fox Unfortunately,
(29:38):
he got into trouble in Indianapolis, wound up with a
fight with a truck driver, sixty nine year old truck driver,
and right now he is facing some charges. You know
as much as I do, because I'm just following what's
in the news out there. Can you give us your
(30:01):
comments here?
Speaker 5 (30:02):
Yeah, you know, I think, like anything, I think, I
always try to hesitate to comment on things that I
don't really have a lot of information on. I don't
know anything. I don't know anything more than what's been reported.
I don't know anything more than anybody else who's you know,
read what you know, articles or whatnot. I haven't really
spent a ton of time diving into it or studying it.
(30:22):
I am also not the one to initially just immediately
pass judgment on people before we exactly know what went on. Obviously,
a situation that's unfortunate played out, whatever the backstory is.
I think we're still trying to sort out what that
looks like. I know Mark on a professional level, obviously
working at Fox. We've crosspads at meetings and whatnot. He's
(30:45):
always been very kind, he's always been a very good teammate.
I don't know him overly well from a personal level,
I think in these situations, I think first and foremost
what everybody wants is just for everybody to be healthy.
I think obviously there was you know, the reports differed
exactly what the injuries were suffered by both parties. I
think obviously, first informants, you just hope everybody's okay and
and safe and healthy, and then from there you just
(31:06):
let the process take itself. I think there's a lot
of information that still needs to come out, as we
all know, you know, people you know, do get the
benefit of the doubt and and and presumed and innocent
until we find out all the facts. But obviously it
was it was. It sounded like a pretty serious incident.
It sounded, you know, very unfortunate. Again, I hope, for
everybody's sake on all sides, that everybody heals and and
(31:28):
can recover and and and let the facts kind of
come out and sort it past that. I don't make
any I don't really make proclamations of condemning people. I
feel like there's a process in place that we have
in this country to let these things get sorted out
the right way, and we just have to have belief
that that's what's going to happen here.
Speaker 6 (31:48):
Right absolutely, and again, like you said, hope everyone in
that situation is okay and healthy. So moving on to
the rest of you know, the stories in the NFL
right now, there is a lot going on. We're getting
into the new meat of the season here and one
of the things that we saw again happen in Week
five that's been happening a lot is players dropping the
(32:08):
ball before they get into the goal line. I know
you feel very strongly about this, and you've criticized this
a lot. I'm with you. Every time I see it.
I cannot believe my eyes. Michael, it is just crazy
to me. So, Greg, do you think it's more of
a problem with showboating? Do you think it's a problem
of laziness? What do you think is it the coaches?
Is on the coaches to do something about this or
(32:29):
how does it get solved?
Speaker 7 (32:31):
No, I don't think guys are lazy.
Speaker 5 (32:33):
I never question I don't ever try to question the
effort the motivations of these guys to play this sport
at this level. You are playing a very physically demanding
sport that is very hard on you. So I don't
ever question guys laziness or toughness or any of that.
I think it's directly connected to guys are excited to
(32:55):
score and are jumping the guns, so to speak. As
far as getting into whatever their celebration is, and whether
it's a group celebration or an individual celebration, the reality
is guys spend a lot of right or wrong. Guys
spend a lot of time all week talking about it,
thinking about it. You know, we see the organized, choreographed dances,
We see the celebrations in the end zones and front
(33:16):
you know, it's part of the game. And I don't
want to sit here and be like old man yells
at clouds like it was not my it was not
my style. But like to each their own, Like, everybody
has their own way that they want to play, and
that's their right as long as obviously it's within the
confines of the rules in the games and you don't
hurt your team. These instances where guys are so anxious
(33:39):
to get into their celebration, they're so that they don't
finish the play and that they don't finish the ball
through the end zone, and that's when it starts to
become an issue. And right, you see, guys, it happens
a lot more. I would say, in the college game,
I don't recall at the top of my head seeing
it that often in the pro game. Guys are a
little bit older and whatnot. But yeah, you know there,
(34:00):
listen whoever it is. And I'm not picking on the
on the kid who did it this weekend from Arizona
or and you just it can't happen, right, And that's obvious.
I think anybody who's ever done it in their career
would be the first one to stand up there and say, listen,
this just cannot happen, especially at the NFL level. So
can you coach it, yes, can you emphasize it? Yes,
But like you're not going to go there's no drills.
(34:21):
The drillers just hold the ball through the end zone
and don't drop it at all, don't ever let go
of the ball until you give it to the official, right,
Like that's like the old Barry Sanders kind of approach.
So I I think it's one of those things that
now that it happened, you just don't want You don't
want to be the first guy because you feel embarrassed.
But I would much rather not be the second guy.
(34:42):
The next guy. If it does happen again this year,
that guy really has no excuse and is probably going
to get jumped pretty quick. But yeah, the bottom line
is it's not personal. When these guys get attacked, it's
not personal. But listen, it's a bonehead play. Guys are
You're going to be held accountable and uh, it's just
can't happen at this level of football. It's just that's
(35:04):
I mean, as simple as you can put it.
Speaker 7 (35:07):
I'm going to go back to back in my day
and use that quote and I want to go off
on the kickoff rules. Now it used to be back
in the day when it was the kickoff. Yeah, the
my man would take it and if he didn't come
out of the end zone or the ball went back
in the end zone, you just start on the twenty. Now, Greg,
(35:30):
I'm confused. Now, it's like, what do you think of
the new kickoff rules?
Speaker 5 (35:38):
No, I actually think it adds a layer of intrigue
and it is confusing, right, Like a true touchback comes
out to the thirty five, but a touchback that lands
in the landing zone then goes in the end zone
for a touchback comes out to the thirty. If you
kick it out of bounds or short of the landing zone, it.
Speaker 7 (35:53):
Goes to the forties. So like there is a lot
of nuance to the rule.
Speaker 5 (35:59):
And it is I'll be honest, I watch the game
sometimes and still have to like second guests myself if
I even have the rules straight, because it's changed a
bunch the one aside from just the increase of returns
and increase of exciting plays, I do think there is
an element that maybe doesn't get talked enough about that
has been Whether it's a conscious byproduct or a design one,
(36:23):
I don't know, but there is a lot of change
in the gamesmanship of how teams are playing right, Because
in the old days, like you're referencing, I had the
ball to five yard line on offense, I had to
make a decision on fourth down whether to go for
the ball and whether to go for the touchdown up
you know, inside the five yard line goal to go situation,
because it was either I fail and you get the
(36:44):
ball to five, or I kick a field goal, I
kick a touchback, you get the ball to twenty, you're
giving up like fifteen yards of field position and I
got three points. Now I kick a field goal from
the five, I get three points. But now if I kick
a touchback that lands in the end zone, it goes
to the thirty five. I've now given up thirty yards,
(37:06):
and with how good these kickers are, you get the ball,
you get the Gallas Cowboys the ball at the thirty
five yard line. Fifteen yards later they get the ball
around midfield and Brandon Aubrey's in field goal range.
Speaker 7 (37:15):
Right.
Speaker 5 (37:15):
So, I think we're seeing a lot more teams using
goal to go situations on fourth down because they're saying
it's not worth me kicking off to you to give
you the ball at the thirty or the thirty five
yard line and only get three points out of it,
even though if I get zero because you stop me,
you have the ball in your own five yard line.
The likelihood of me getting the ball back if I
can stop you around midfield to go score again, is
(37:38):
better odds of me scoring than giving you the ball
at the thirty five yard line to get into field
goal range. So I think you're seeing a lot of
teams start taking into account what the kickoff rule does
to offense and defense and not just looking at it
in the in the terms of just returning the ball
or not.
Speaker 7 (37:56):
Oh thanks to former NFL pro bowler Any Youth Incorporated
Greg Olsen for joining us. You can hear him calling
NFL games on Fox every Sunday. And that does it
for this edition of The Bloomberg Business of Sports For
Vanessa Perdomo, I'm Michael Barr.
Speaker 6 (38:11):
Tune again next week for the latest on the stories
moving big money in the world of sports, and subscribe
to our podcast so you never miss an episode.
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Turn two you're listening to The Bloomberg Business of Sports
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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.
Speaker 2 (00:53):
I'm Michael Bahr and I'm Vanessa Bremo Damien.
Speaker 7 (00:56):
We'll be back next week. Coming up on the show,
we'll talk with former NFL Pro Bowl tight end Greg Olsen.
I said, Greg Olsen.
Speaker 9 (01:05):
Yoke, he steps up close Olson touchdown.
Speaker 7 (01:11):
We'll talk to him about the NFL season so far,
and about his Youth Incorporated project. We'll also talk about
an MLB slugger that has his site set on a
new high tech golf course outside of New York City.
All that and more is on the way on the
Bloomberg Business of Sports. But first, a new athlete has
(01:32):
reached billionaire status this week.
Speaker 2 (01:34):
That's right, Michael.
Speaker 6 (01:35):
Superstar Christiano Ronaldo has become the very first billionaire active
soccer player, with a networth climbing to one point four
billion dollars according to the Bloomberg Billionaires Index.
Speaker 7 (01:46):
That's Damian Sasaur Money. Bloomberg's Dylan Sloan has some reporting
on this. He's here now to break down how Ronaldo
reached billionaire status. Dylan, Welcome to the Bloomberg Business of Sports.
Speaker 3 (02:00):
Thanks so much for having me. Appreciate it.
Speaker 7 (02:03):
Give me some tips because I want to get paid too.
How did he become this rich?
Speaker 3 (02:10):
You really said it. I have to say, Saudi Arabia
is a really big part of that. So we've been
looking at, you know, at the Bloomber billionaires in dex
a number of professional athletes for a while, especially in
the soccer world, and one of the things that stood
out to us about Ronaldo and his wealth is that,
you know, he's been one of the best players in
the world, one of the best paid players in the
(02:30):
world for decades now at this point, but it really
is this transfer to Saudi Arabia in the past four
years that's really leveled up his wealth in a different way. So,
you know, he played for years in England, in Spain,
edist in Italy as well, but the amount of money
that he's been paid at all Nasser, his club based
in Riod has really been what's brought to move to
(02:52):
the line and led to this one point four billion
dollar fortune that we've calculated for him.
Speaker 6 (02:56):
I think the interesting thing there is that you brought
up all the different places he's played in how the
those things have gone into his net worth. But it's
really the first time that we've seen an athlete reached
this billionaire status because of their play on the field, right,
Can you elaborate on that uniqueness?
Speaker 3 (03:09):
Yeah, absolutely so. A number of the other athletes that
we looked at recently, we looked at Feeder a few
months ago. We've done valuations on other athletes like Michael
Jordan and Lebron James. A lot of those come from
off the field, from endorsements, from investments something like that.
For example, Roger Fetter, who we looked at a few
months ago, the biggest chunk of his net worth is
actually from this investment and on holdings the Swiss running
(03:31):
shoe company that he made. But for an Aaldo, it
really is his earnings. It really is the you know,
what he's made from playing on the field. And while
he does have a number of outside investments that we
dug into, none of those have really been significant drivers
of his net worth. And you know, that's a testament
to him. I think that it really is his star power,
his talent on the field, and what teams have been
(03:52):
willing to pay up for him. That's that's led to
this fortune.
Speaker 7 (03:54):
Now let's bring it in the focus because part of
this one point four billion dollars because he also has
a contract with our money, our money and also Nike.
Now I don't have any contracts except with PF Flyers,
and we can see how that went. Can this lead
to more endorsements for Ronaldo? And can we see that
(04:17):
fortune grow even more? Right?
Speaker 3 (04:18):
And one of the things that we've seen with a
lot of other athletes in this space, is that even
after they retire, these endorsement deals have become a significant
source of income for you know, years or even decades afterwards.
So that Nike deal for Ronaldo is still ongoing. You know,
he's been earning tens of millions of dollars a year
as a major brand representative for them, and we do
expect to see Ronaldo's fortune continue to grow, you know,
(04:40):
over the next years and decades. Actually, you know, he
recently signed an extension at the Saudi Club on Oser
this past summer. We haven't included any of those earnings
in our valuation of his net worth. That's not money
in the door yet, but that'll be you know, it's
looking like likely hundreds of millions of dollars at least,
and that's just in contract earnings. And then of course,
like you're saying, you know, potential future endorsement deal is
(05:01):
that he hasn't even signed yet. So for him, it's
really been you know, here now in the twilight of
his career. He's in his forties. You know, we're not
sure how much longer he's going to continue to play,
but certainly there could be a lot more money coming
in the door for him, I.
Speaker 6 (05:13):
Think the interesting thing to look at, and Michael you
point it out there is like the getting to this
level network in the Saudi contracts and all that things.
But it also came with a lot of criticism right
when it first when it first happened. And then at
that time you also had Messi go to MLS and
there was this comparison of He's obviously going to get
more money in his contract, but will Messi get more
(05:34):
in terms of endorsements for being in the US market?
So how would you compare the two as in what's
more important? What's more significant? Was it Messi what he's
done for the MLS being in the US market or
Ronaldo in Saudi.
Speaker 3 (05:46):
Yeah, that's a really interesting comparison in something that we've
looked at closely for this story. I mean, you know,
throughout throughout both of their careers, which have progressed, you know,
on very similar timelines. They've been two of the best
players in the world, two of the best paid players
in the world. But yeah, really has been and a
market difference over the past few years, like you're saying,
with Renald going to Saudi Arabia, Messi coming to the US,
But in some ways those two deals are actually closer
(06:07):
than you might think, and both of them are structured
in sort of new ways that we haven't seen with
major soccer contracts in the past. The big thing there
is both of those two athletes are are reportedly getting
an equity stake in part of the team that they're
playing for. As part of the deal, Messi is expected
to have an option to purchase part of Inter Miami
become a co owner of the club there. And then
(06:29):
Ronaldo's new contract to this extension over the summer also
reportedly includes an equity stake in on user in the team.
So that's something that you know, players just haven't really
been able to command in the past. This is sort
of a new uh, a new perk, a new addition
to this type of deal. And given the direction that
we've been you know, seeing sports franchises, not just in
(06:50):
the soccer world, but you know across all leagues and
all sports going over the past few years, that could
end up being something very lucrative for the both of
them down the line.
Speaker 6 (06:57):
It's something that we've tried that they've tried to do
in the NFL. Right, some NFL players have tried to say, hey,
put that in my contract, and they're a little bit
I mean, they said no.
Speaker 2 (07:05):
It was like a quick no from the NFL.
Speaker 6 (07:07):
But do you think that the star capital that Messi
and Ronaldo have for the sport of soccer is what
allows them to do that?
Speaker 3 (07:14):
Yeah? I mean I think I can't speak too much
to sort of what's going on inside the MLS, but
I know that when that deal was announced, that was
a huge draw for them and a huge draw for
the league. And I know that Bloomberg recently put out
a story sort of talking about that about you know,
the star power of Messi, and not just for inter
Miami specifically, but also for Apple, who's the mls is
exclusive streaming partner, and for that whole ecosystem of business
(07:34):
around there. That's been a really big draw. I should
also mention that as part of Messi's deal as well,
not only was it an equity stake in Intro Miami,
but also there's a revenue sharing agreement with Apple as
part of that deal. So the terms of that aren't
disclosed and it's hard to tell exactly what his cut
of that is, but he's reportedly receiving income as part
of the Apple MLS streaming deal. So again just another
(07:56):
example of sort of the new innovative perks and mechanics
that you know, he and other star athletes are able
to command in some of these deals.
Speaker 7 (08:04):
I want to talk about al the team that he
went to ye Base. Before he went there, you didn't
know anything about this team. Who what what do they do?
Now they're all over the map around the world.
Speaker 3 (08:20):
Right, And you know, he was sort of one of
the first players to really make that move to add
some serious star power to the league. And since then
they've seen a number of other major European players making
the move over there. Kareem Benzema, who's a teammate of
Ronaldo's at Real Madrid, moved there a few years ago.
Another Portuguese player, Joue Felix joined as well, so you've
got a number of other athletes sort of making the
trip now. He was sort of one of the first
(08:41):
people to break ground. But certainly, and you know, they've
done a good job of not just playing their games
in Saudi Arabia but also playing internationally. I think that
you know, they've played some some matches in Hong Kong
that have been really well received, and you know they're
definitely growing, utilizing Ronaldo's star power for sure, but becoming
much more of a global brand.
Speaker 6 (09:00):
And what we saw actually this year with the Club
World Cup was Al Hilal. They advanced to a stage
that no one really thought they were going to beat
Manchester City and advancing to the quarterfinals. So it seems
that it would seem that the bet they're making on
soccer is paying off. Do you think we'll now see
more players going there or be taken more seriously as
a league?
Speaker 3 (09:19):
Yeah, I mean in terms of players, I have to say,
just the financial power that they're they're able to wield,
and you know, these deals that they're able to offer
players is certainly proving to be a big draw. I'm
Ronaldo obviously a clear example of that. I mean, you know,
if you're able to play athletes hundreds of millions of
dollars and not even for long term deals, but you know,
for Ronaldo we're talking about two year deals. These are
(09:40):
players who are towards the end of their careers, not
necessarily young players in their prime. So you know, if
you have a league and if you have owners who
are willing to pay up and attract those types of
players can definitely be a real opportunity for growth.
Speaker 7 (09:53):
I have to bring this up. I know I'm going
off the board here a little bit. But Lebron James,
he fooled me. I have to admit it was, as
everybody knows, twenty ten, he had what was called the Decision,
which was a big televised event that he was going
(10:14):
to Miami, and then several days ago he said, Okay,
I've got a big decision here. I'm like, oh, is
this going to be the end of his career? And
then he's selling Koonnac. What's your decision in this fall?
Speaker 8 (10:33):
Man?
Speaker 7 (10:33):
This is tough. In this fall, I'm gonna be taking
my talents to Hennessyvsop. You have thought, did he fool
you like he fooled me?
Speaker 4 (10:46):
Not?
Speaker 2 (10:46):
I not?
Speaker 6 (10:48):
I you know, I'll say I when I saw it,
I was like, this is this is going to be
some sort of giving.
Speaker 2 (10:54):
I didn't know it was gonna be like that. I
didn't know if he was going to fake out people
that hard. But I, you know, I'm very scared.
Speaker 6 (11:00):
Of people these days, Michael, and I just think there's
no way Lebron is announcing his retirement the way people
want him to do.
Speaker 7 (11:08):
Anythink, Dylan, your thoughts, man?
Speaker 3 (11:10):
I saw social media was a bus Actually, yesterday I
was revisiting our valuation of Lebron James's networth. We published
that last summer, just over a billion dollars for him,
just in case for that contingency. But yeah, you know, definitely.
I don't know if I call it a letdown necessarily,
but not quite what people expected when that one came out.
Speaker 7 (11:28):
I guess you won't see Christiano Ronaldo for Boone's Farm wine.
You won't see that coming up any times, right, Dylan,
you are the man, and I appreciate you coming down
here and talking with us on Bloomberg Businesses Sports. A
great article, folks, by the way, go to the terminal
and check it out. You will really appreciate it. Thank
(11:50):
you again, Dylan, We appreciate it.
Speaker 3 (11:51):
Thanks to both of you. Great to chat up.
Speaker 7 (11:53):
Next, we turned to a superstar slugger with big plans
for a high tech golf court.
Speaker 9 (11:58):
Here's the next pitch is lifted high and this ball
is blasted down the left side and that lands in
the second deck. It is trout to hear a home
run number thirty seven of the year. Boy, that ball
got out in no time and Trout will circle the bases.
Speaker 7 (12:16):
With for Vanessa Bernomo, I'm Michael Barr. You're listening to
the Bloomberg Business of Sports from Bloomberger Radio around the world.
Speaker 1 (12:38):
Get the news you need at the click of a
button inside your car. The new Bloomberg Business app now
featuring Apple Car Play and Android Auto all your favorite
Bloomberg Radio shows at your fingertips. Downloaded free in the
Apple App Store or on Google Play. This is Bloomberg
Business of Sports from Bloomberg Radio.
Speaker 7 (13:00):
This is the Bloomberg Business of Sports, where we explore
the big money issues in the world of sports.
Speaker 2 (13:05):
Michael Barr and I'm Vanessa Erdemo.
Speaker 7 (13:07):
Damien will be back next week.
Speaker 6 (13:09):
Los Angeles Angels superstar Mike Trout is planning a huge,
high end golf course just about two hours south of
New York City that's in New Jersey, his home state.
Speaker 7 (13:18):
And from the looks of it, it plans the rivals
some of the most exclusive and high tech courses in
the country. Bloomberg Business Week contributor Michael Crowley has reporting
on this. He joins us now to discuss Michael, Welcome
to the Bloomberg Business of Sports.
Speaker 4 (13:35):
Thanks for having me.
Speaker 7 (13:37):
All of a sudden, Mike Trout is see this is
why I wish I was playing golf where he is
debuting high end golf club, a high end golf club
in New Jersey. Tell us about that, and this is
he can make a lot of money out of this.
Speaker 4 (13:55):
I think, yeah, I think the market. I think if
you do it right, there is a market to make
some money off of this. But I think the reason
he's doing it is I think he was looking at
things post baseball career. Not to say he's near the
end of his career would be for me to say anyways,
but I think that he said that they were presented
with some opportunities to buy a course, and there was
a businessman in New Jersey that he knew that had
(14:18):
done some work on his home or his company had
done some work on Mike's home and brought him an
opportunity to actually build a golf course. And then Old
Silica San Cory, so he jumped at the chance to
do it. He got into golf during COVID like a
lot of Americans, and took to the game. He played
(14:39):
it growing up, but he really fell into it during
COVID and it seemed like a good opportunity, he said,
for him and his team to go ahead and take
a shot at building this course in Jersey.
Speaker 2 (14:49):
It's interesting.
Speaker 6 (14:49):
I mean, like you said, instead of buying one that
was already existed, building one from scratch and having Tiger
Woods design the course. What kind of you know, value
do you think that adds to something to a project
like this.
Speaker 4 (15:05):
Well, I think it's fair to say if you have
a high profile athlete like Mike Trout, that's going to
draw a lot of attention, and then you're going to
get a lot of high networth individuals who want to
be in that orbit. I don't think that's telling any
tales out of school. But you're also going to get
a lot of professional athletes that are also a very
high profile and successful, and they kind of understand that
(15:25):
when they go there, maybe they won't be sort of
monkeys in a zoo, right, They'll actually be able to
sort of be themselves, be relaxed, kind of chill out
and sort of understand that they don't have to be
on that they're not the most famous person in the club.
Maybe that day. I think that that has a lot
to do with you know, why you would build a club,
(15:46):
then you can sort of create the culture of that club,
and I think that that sort of adds some value.
And I think with Tiger coming on board, his design
firm is only done about a dozen projects, even though
they've been around since two thousand and six. Now, some
of that, I don't know all the particulars of that.
I'm gonna guess some of that's because he's still busy
playing a lot of golf. But I would also guess
it's because he's particular about what kinds of projects he
(16:07):
wants to do. And it makes sense that one hope,
one high profile athlete would pick another high profile athlete
who's in that business to design his course and help
him create the kind of atmosphere as well as field
of play that he wants.
Speaker 7 (16:22):
Now, this is in Millville, New Jersey. When it will
open in April of twenty twenty six, at least that's
what they're predicting, and Trout will open it up, which,
by the way, Millville is about two hours south of
New York City. Now, what's happening next year in New
York City That following month. We're talking Cup championships, man,
(16:45):
and you know soccer, and it's gonna be huge. I'm
wondering if they're going to benefit from all of the
soccer fans coming in town.
Speaker 4 (16:56):
No, probably not because it's going to be a private,
exclusive club. They're going to cap it two hundred and
twenty seven members, so there's not going to be any
sort of public play. You know. We've done some stories
like this at Pursuits for Bloomberg about sort of the
high end private golf market and it's really booming right now.
We did a story about South Florida last year about
(17:16):
eight courses are going in just north of West Palm Beach.
Those are all super high networth individuals who are doing that.
But there are these kinds of destination courses that they're called.
They're coming online everywhere. There's a big one coming on
in Texas that should be opening up later this year.
And I mean when I say Texas, I mean the
middle of nowhere. Like you fly to Amarillo, then you
(17:38):
drive two hours east to get to this gorse. So
these are high networth individuals that want to create sort
of exclusive opportunities. You go in, you play eighteen the
first day you arrive, maybe thirty six the next day,
and then you play eighteen before you leave. And so
most of these guys, as we said in the article,
they're flying in private. Typically there's going to be a
(17:58):
helipad at Trout's course instance to get you. You know,
I think if you drove, it's thirty minutes from the
private from the private airstrip, but you can be there
in six minutes via chopper if you like. And they're
all creating different ways of experiencing the property. I think
one of the most interesting and unique things about Trout's
(18:18):
property that I had not heard before was this idea
that if Michael, you pulled your car in there, you
wouldn't see your car getting ntil you leave. They would
whisk it away to some underground garage they've got on property,
and when you come back to the car, it's been
completely detailed inside and out.
Speaker 7 (18:34):
WHOA, oh.
Speaker 4 (18:38):
Yeah, I mean that's what I'm thinking. I'm thinking, I'm
just gonna pull up like I'm lost, show up an
hour later. You just get a car.
Speaker 2 (18:47):
The members in New Jersey just go there just to
get their car, right.
Speaker 4 (18:52):
That's right. So I think that what we're seeing though
in this in the private golf market, you're just seeing
a lot of that, a lot of this, and part
of is a golf boom. And part of what happened
was that people couldn't get into a local country clubs
where they lived like they literally the rosters got full
very fast. And then if you had certain means, it
(19:14):
just became more interesting and perhaps even easier if as
weird as that may sound, to just go somewhere else,
right and go play for three days and then come back,
just fly.
Speaker 6 (19:23):
Away to New Jersey really quick for a little bit.
We're the middle of Texas. Yeah, it's interesting. You know
about the exclusivity part of it, And tell me about this,
because I'm not necessarily an expert on Does that mean
then that they can't or they won't host a PGA
or a live golf tournament in the future.
Speaker 4 (19:43):
You know, I didn't ask them about that. I'm not
sure that the course is designed to such to be
what we would call a championship course. It seems like
it's a course that's designed more for fun and entertainment,
which means in a way, I guess you could say
that means easier, But I don't think that's anything that's
part of their aspirations. You certainly do have clubs that
are in that sort of private, high end market that
(20:05):
do have aspirations for that, but that becomes kind of
a whole other ball of wax sometimes where everything around
the club is kind of geared for those seven days
that the tournament will be there, and so you could
be a member of a club like that, but it
really doesn't feel like you're a club because everything's kind
of geared towards, you know, those seven days you host
(20:26):
a tournament. My impression from what I got from the
team was I don't see for see them doing that.
Speaker 9 (20:31):
One.
Speaker 4 (20:31):
I don't think the course is built to sort of
host tournaments.
Speaker 7 (20:35):
Two.
Speaker 4 (20:35):
I think it's more about what he wants to do
is take some of the stuffiness out of golf, which
has been happening for a little while now. But instead
of just going out with four players, maybe we go
out six or seven or eight. As long as we
kind of keep pace and don't slow anybody down. We
can do it that way. If we want to play barefoot,
we can play barefoot, you know. I mean, there's a
lot of things that he wants He wants it to
(20:56):
be a serious golf club, but he doesn't want it
to be a stuffy golf and that's a hard that's
a hard needle to thread that a lot of these
places are trying to sort of figure out in this
kind of new version of golf that's happening right now.
Speaker 7 (21:09):
This new course in Violand, New Jersey. It's right by Millville, which,
by the way, is Trout's hometown. And I wonder if
the people that designed the course, we're thinking about the
Augusta National Golf Club.
Speaker 4 (21:24):
Yeah, I think that's it. I mean, Tiger's design sort
of ethos really comes from the success he's had at
Augusta and and sort of how that course sets up.
Augusta is an interesting case in the golf world, and
that it challenges the best players in the world obviously
every April. But for a regular player playing the appropriate teas,
you can still have a lot of fun and getting
(21:46):
around that course. It doesn't beat you up. And part
of the way it does that is it doesn't have
high rough, right, So if you miss the fairway and
you're off in the rough, the rough is not going
to be so hard that you can't advance the ball
or you can't get around it. The really difficult thing
about Augusta ar its greens. That's its sort of number
one defense. There's a lot of contour, humps and bumps
(22:06):
in the greens, as we say, and that's the way
Tiger sets up a lot of his courses. They have low, rough,
wide fairways, so lots of opportunity to hit the short grass.
And then when you get around the greens, you have
to start making some decisions. And he usually builds typically
big greens, so they're receptive to aarrant shots as well,
so you've always got kind of a putt. But if
(22:27):
there's a fall off on the green or there's a
contour in the green, that could be difficult. But he
tries to make his courses pretty receptive.
Speaker 6 (22:37):
And this is now Mike Trout's not his first venture
in the world of golf. He's also a limited partner
with the TGL, which is Tiger Woods's league, the Tomorrow
Golf League.
Speaker 2 (22:49):
So do you think that we can expect a lot of.
Speaker 6 (22:52):
What Mike Trout does off the diamond in his post
retirement to really be honed around golf.
Speaker 4 (23:00):
H Yeah, I mean I wouldn't be surprised by it.
I mean, golf, as we know, is a great networking sport,
right and there's a lot of different people from different
types of businesses that play golf and want to be
involved in golf. And I think we're seeing a lot
of that right now. I mean you look at some
of the success of like a show like Stick on
Apple as well as like the Crazy Numbers Happy Gilmore
(23:21):
two got on Netflix, and I think what those two
shows speak to, they speak to sort of a popularity,
is that I would still say golf is niche, but
I would say that niche has gotten larger, right, And
I think trouts both involvement in TGL as well as
this course speak to this idea of sort of a
more kind of mainstream attitude towards golf, as well as
(23:43):
it being a great place in an avenue to find
investors or investments that you're interested in and a way
to sort of conduct business and meet people that are
interested in things that you are.
Speaker 7 (23:54):
We forgot to mention the most neat kid still say
that I guess they can play in the night. I
mean there's a course that's there on this and it's
called the Bullpen. Tell Us about that.
Speaker 4 (24:09):
Yeah, yeah, that's a new thing that's been happening probably.
I'd say that trend is about ten years now, where
you have an eighteen hole what we could consider a
traditional golf course on property, and then you have a
short course what we used to call pitching putts. You
know what, maybe your mom or your dad would stop
in and do nine holes before they came home from work,
you know, just par three courses. But these have been
(24:32):
really becoming popular over the last ten years. It's sort
of really high end public resorts like Banded Dunes and
stream Song in Florida. And then you're starting to see
when people build these clubs, they always want an extra
sort of nine, ten, eleven, twelve holes because some people
just don't have the appetite to go out and play
another eighteen or walk another eighteen. Typically these courses are
(24:52):
always walking only too. So what they did at Trout
National was they decided, like, let's build another one of
these short courses, but with some lights unders so that
we can kind of keep playing and having fun even
after the sun goes down. And that's a trend that
we're starting to see at some of these places too.
A lot of resorts. There's even a business model out
in Arizona, a place that is sort of lights up
(25:14):
at not that's kind of its sort of selling point.
But yeah, it's gonna be a pretty interesting sort of experience.
I think if you're there on property and everything's looser, right,
So they'll be drinks, the'll be fire pits, we'll be
things like that, and it'll be a nice time and
a nice experience to play under the lights, all right.
Speaker 6 (25:30):
Thanks to Bloomberg Business. We contribute to Michael Crowley for
joining us up.
Speaker 7 (25:33):
Next, we turn to former NFL pro bowler and current
Fox Sports NFL analyst Greg Olsen for Vanessa Perdomo. I'm
Michael Barr. You are listening to the Bloomberg Business of
Sports Bloomberg Radio around the world.
Speaker 1 (25:52):
This is Bloomberg Business of Sports from Bloomberg Radio.
Speaker 7 (25:58):
Thanks for joining us on the Bloomberg Business Sports, where
we explore the big money issues in the world of sports.
Speaker 2 (26:03):
I'm Michael Barr and I'm Vanessa pro Domo.
Speaker 7 (26:05):
The NFL season is in full swing and has already
seen some surprises.
Speaker 9 (26:11):
It's first and goal with thirty seconds left.
Speaker 8 (26:15):
Now Warrence goes down. It has to get up, breaks
a tackle, chucks down, jacks away.
Speaker 7 (26:28):
That's right. You want to know about another team. I'm
not even surprised. The Detroit Lions. I love my life. Okay,
I'm sorry. Okay, I'm done.
Speaker 2 (26:36):
I'm going They are quite goodness.
Speaker 7 (26:38):
No rooting in the press box, I'm sorry.
Speaker 6 (26:41):
Joining us now to talk about the NFL season and
more is former NFL pro bowler and current Fox Sports
NFL analyst Greg Olsen. He's also founder of Youth Incorporated. Greg,
Welcome to the Bloomberg Business of sports.
Speaker 7 (26:53):
Yes, it's great to be honest. Appreciate you guys having me. Well,
I want to start with what you are a founder of, with,
which is Youth Incorporated. Tell us what that's all about.
Speaker 5 (27:04):
Yeah, So it's kind of what started as a passion
project of mine a couple of years ago has now
really turned into something that we think is pretty significant.
You know, kind of my backstory of growing up the
son of a high school football coach, and you know,
obviously growing up in locker rooms and around youth sports,
and you know, fortunately for me, I was able to
make a living add of it. But now I am
on the on the back side of retirement. My playing
(27:25):
days are over, and now I'm just a dad. I'm
a youth coach. I spend you know, five six days
a week on the fields with my with my sons,
or in the court with my daughter, on the track
with my daughter, you know, just doing different things. And
you know, over the last couple of years, as they've
gotten older, just kind of looking around and saying, you know,
this is not an environment that I recognize. It's not
a landscape of youth sports experience that I'm familiar with
(27:47):
from my upbringing. And you know, as parents, I think
a lot of people around the country are struggling with
what is the right plan, what is the right approach,
what is the right you know, what is enough and
not enough? And we started I took the content tent
route initially and went out and started having really cool
conversations with some of the biggest thought leaders in the area,
mental health specialists, coaches, trainers, professional athletes, olympians, everyone really
(28:11):
across the sport and just said, hey, what's going on
out there? What do we need to know? And as
I learned, you obviously share with our listeners and kind
of go along the journey with them. And then about
a year or so ago we were into the content.
I was contacted by my now business partner, Ryan Base,
who was working on some things with his time at
Fanatics in the e commerce space around youth sports and
(28:33):
kind of came across some of our content and said, hey,
this is probably a better business aligned than separate, and
we relaunched.
Speaker 7 (28:40):
You think as a.
Speaker 5 (28:41):
Content to commerce type of platform where you can go
on and find all sorts of educational and informative and
entertaining content around youth sports, and then also an entire
platform engine of e commerce to buy your favorite brands
with your you know, with your kids, schools, travel, ball clubs, leagues,
(29:02):
whatever the case may be very similar to how you
would do for your favorite college or professional sports team.
So we've launched, We've been open now live a couple months,
and the initial response has been has been pretty significant.
Speaker 7 (29:15):
I want to talk more about a lot of the
NFL because I need your predictions because I have to
fill out my pick'em charts and all the other stuff.
I'm get to that second, but I would like to
ask you about a fellow colleague of yours, Mark Sanchez.
He is also a NFL color commentator for Fox Unfortunately,
(29:38):
he got into trouble in Indianapolis, wound up with a
fight with a truck driver, sixty nine year old truck driver,
and right now he is facing some charges. You know
as much as I do, because I'm just following what's
in the news out there. Can you give us your
(30:01):
comments here?
Speaker 5 (30:02):
Yeah, you know, I think, like anything, I think, I
always try to hesitate to comment on things that I
don't really have a lot of information on. I don't
know anything. I don't know anything more than what's been reported.
I don't know anything more than anybody else who's you know,
read what you know, articles or whatnot. I haven't really
spent a ton of time diving into it or studying it.
(30:22):
I am also not the one to initially just immediately
pass judgment on people before we exactly know what went on. Obviously,
a situation that's unfortunate played out, whatever the backstory is.
I think we're still trying to sort out what that
looks like. I know Mark on a professional level, obviously
working at Fox. We've crosspads at meetings and whatnot. He's
(30:45):
always been very kind, he's always been a very good teammate.
I don't know him overly well from a personal level,
I think in these situations, I think first and foremost
what everybody wants is just for everybody to be healthy.
I think obviously there was you know, the reports differed
exactly what the injuries were suffered by both parties. I
think obviously, first informants, you just hope everybody's okay and
and safe and healthy, and then from there you just
(31:06):
let the process take itself. I think there's a lot
of information that still needs to come out, as we
all know, you know, people you know, do get the
benefit of the doubt and and and presumed and innocent
until we find out all the facts. But obviously it
was it was. It sounded like a pretty serious incident.
It sounded, you know, very unfortunate. Again, I hope, for
everybody's sake on all sides, that everybody heals and and
(31:28):
can recover and and and let the facts kind of
come out and sort it past that. I don't make
any I don't really make proclamations of condemning people. I
feel like there's a process in place that we have
in this country to let these things get sorted out
the right way, and we just have to have belief
that that's what's going to happen here.
Speaker 6 (31:48):
Right absolutely, and again, like you said, hope everyone in
that situation is okay and healthy. So moving on to
the rest of you know, the stories in the NFL
right now, there is a lot going on. We're getting
into the new meat of the season here and one
of the things that we saw again happen in Week
five that's been happening a lot is players dropping the
(32:08):
ball before they get into the goal line. I know
you feel very strongly about this, and you've criticized this
a lot. I'm with you. Every time I see it.
I cannot believe my eyes. Michael, it is just crazy
to me. So, Greg, do you think it's more of
a problem with showboating? Do you think it's a problem
of laziness? What do you think is it the coaches?
Is on the coaches to do something about this or
(32:29):
how does it get solved?
Speaker 7 (32:31):
No, I don't think guys are lazy.
Speaker 5 (32:33):
I never question I don't ever try to question the
effort the motivations of these guys to play this sport
at this level. You are playing a very physically demanding
sport that is very hard on you. So I don't
ever question guys laziness or toughness or any of that.
I think it's directly connected to guys are excited to
(32:55):
score and are jumping the guns, so to speak. As
far as getting into whatever their celebration is, and whether
it's a group celebration or an individual celebration, the reality
is guys spend a lot of right or wrong. Guys
spend a lot of time all week talking about it,
thinking about it. You know, we see the organized, choreographed dances,
We see the celebrations in the end zones and front
(33:16):
you know, it's part of the game. And I don't
want to sit here and be like old man yells
at clouds like it was not my it was not
my style. But like to each their own, Like, everybody
has their own way that they want to play, and
that's their right as long as obviously it's within the
confines of the rules in the games and you don't
hurt your team. These instances where guys are so anxious
(33:39):
to get into their celebration, they're so that they don't
finish the play and that they don't finish the ball
through the end zone, and that's when it starts to
become an issue. And right, you see, guys, it happens
a lot more. I would say, in the college game,
I don't recall at the top of my head seeing
it that often in the pro game. Guys are a
little bit older and whatnot. But yeah, you know there,
(34:00):
listen whoever it is. And I'm not picking on the
on the kid who did it this weekend from Arizona
or and you just it can't happen, right, And that's obvious.
I think anybody who's ever done it in their career
would be the first one to stand up there and say, listen,
this just cannot happen, especially at the NFL level. So
can you coach it, yes, can you emphasize it? Yes,
But like you're not going to go there's no drills.
(34:21):
The drillers just hold the ball through the end zone
and don't drop it at all, don't ever let go
of the ball until you give it to the official, right,
Like that's like the old Barry Sanders kind of approach.
So I I think it's one of those things that
now that it happened, you just don't want You don't
want to be the first guy because you feel embarrassed.
But I would much rather not be the second guy.
(34:42):
The next guy. If it does happen again this year,
that guy really has no excuse and is probably going
to get jumped pretty quick. But yeah, the bottom line
is it's not personal. When these guys get attacked, it's
not personal. But listen, it's a bonehead play. Guys are
You're going to be held accountable and uh, it's just
can't happen at this level of football. It's just that's
(35:04):
I mean, as simple as you can put it.
Speaker 7 (35:07):
I'm going to go back to back in my day
and use that quote and I want to go off
on the kickoff rules. Now it used to be back
in the day when it was the kickoff. Yeah, the
my man would take it and if he didn't come
out of the end zone or the ball went back
in the end zone, you just start on the twenty. Now, Greg,
(35:30):
I'm confused. Now, it's like, what do you think of
the new kickoff rules?
Speaker 5 (35:38):
No, I actually think it adds a layer of intrigue
and it is confusing, right, Like a true touchback comes
out to the thirty five, but a touchback that lands
in the landing zone then goes in the end zone
for a touchback comes out to the thirty. If you
kick it out of bounds or short of the landing zone, it.
Speaker 7 (35:53):
Goes to the forties. So like there is a lot
of nuance to the rule.
Speaker 5 (35:59):
And it is I'll be honest, I watch the game
sometimes and still have to like second guests myself if
I even have the rules straight, because it's changed a
bunch the one aside from just the increase of returns
and increase of exciting plays, I do think there is
an element that maybe doesn't get talked enough about that
has been Whether it's a conscious byproduct or a design one,
(36:23):
I don't know, but there is a lot of change
in the gamesmanship of how teams are playing right, Because
in the old days, like you're referencing, I had the
ball to five yard line on offense, I had to
make a decision on fourth down whether to go for
the ball and whether to go for the touchdown up
you know, inside the five yard line goal to go situation,
because it was either I fail and you get the
(36:44):
ball to five, or I kick a field goal, I
kick a touchback, you get the ball to twenty, you're
giving up like fifteen yards of field position and I
got three points. Now I kick a field goal from
the five, I get three points. But now if I kick
a touchback that lands in the end zone, it goes
to the thirty five. I've now given up thirty yards,
(37:06):
and with how good these kickers are, you get the ball,
you get the Gallas Cowboys the ball at the thirty
five yard line. Fifteen yards later they get the ball
around midfield and Brandon Aubrey's in field goal range.
Speaker 7 (37:15):
Right.
Speaker 5 (37:15):
So, I think we're seeing a lot more teams using
goal to go situations on fourth down because they're saying
it's not worth me kicking off to you to give
you the ball at the thirty or the thirty five
yard line and only get three points out of it,
even though if I get zero because you stop me,
you have the ball in your own five yard line.
The likelihood of me getting the ball back if I
can stop you around midfield to go score again, is
(37:38):
better odds of me scoring than giving you the ball
at the thirty five yard line to get into field
goal range. So I think you're seeing a lot of
teams start taking into account what the kickoff rule does
to offense and defense and not just looking at it
in the in the terms of just returning the ball
or not.
Speaker 7 (37:56):
Oh thanks to former NFL pro bowler Any Youth Incorporated
Greg Olsen for joining us. You can hear him calling
NFL games on Fox every Sunday. And that does it
for this edition of The Bloomberg Business of Sports For
Vanessa Perdomo, I'm Michael Barr.
Speaker 6 (38:11):
Tune again next week for the latest on the stories
moving big money in the world of sports, and subscribe
to our podcast so you never miss an episode.
Speaker 7 (38:19):
Turn two you're listening to The Bloomberg Business of Sports
Bloomberg Radio around the world.
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