January 24, 2025 • 38 mins
Join hosts Michael Barr and Damian Sassower for a look at some of the latest headlines and stories in the business of sports.
Bloomberg News global business reporter Ira Boudway joins to talk about TGL, the new, made-for-TV indoor golf competition created by Tiger Woods and how it’s aiming to reach a younger audience. They also discuss a conversation NFL commissioner Roger Goodell had on “The David Rubenstein Show: Peer to Peer Conversations,” where he mentioned being open to expanding the regular season to 18 games.
Former college basketball star Jimmer Fredette joins along with Michael Haddix Jr., to discuss Scout, a financial solutions platform for college athletes. Haddix is founder and CEO of the firm and Fredette is an investor. They discuss the impact the firm can have as NIL changes how student athletes make decisions.
Plus, Bloomberg Originals sports correspondent Vanessa Perdomo has a conversation with former USA soccer striker Jozy Altidore about soccer’s growth in the US, and how he became a limited partner in the Buffalo Bills as they chase a title.
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Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:02):
Bloomberg Audio Studios, Podcasts, Radio News. This is the business
of sports.
Speaker 2 (00:10):
The business of sports can be intimidating or hard for
a starting to break into.
Speaker 3 (00:14):
We really appreciate when our owners are actually there, you know,
with us through the journey.
Speaker 4 (00:18):
Teams ours especially have been very intentional to diversify at
all levels.
Speaker 5 (00:22):
Of the company.
Speaker 6 (00:23):
I think we're in bolden years for the NFL and
college football.
Speaker 7 (00:26):
Our demographic reach has continued to exploise.
Speaker 3 (00:29):
This is going to be really unlocking the streaming platform
for sports fans.
Speaker 2 (00:34):
Sports evaluations arising. We'll see when they peak.
Speaker 3 (00:37):
You don't have to be the best in your sport
to make a whole ton of money.
Speaker 1 (00:42):
Bloomberg Business of Sports from Bloomberg Radio.
Speaker 2 (00:47):
This is the Bloomberg Business of Sports, where we explore
the big money issues in the world of sports. I'm
Michael barn and I'm Damian sasaurg Scarlett Food. She's on assignment.
Coming up wheel here from former college basketball star Jimmer Ford.
He is investing in a new financial wellness program for
student athletes called Scout.
Speaker 4 (01:05):
We'll talk with Jim Er about the platform and about
how NIL is changing the way student athletes approach college sports.
Speaker 6 (01:12):
You need to find someone that's on your side, you know,
that understands what they're doing. So when you get into
these meetings, you are able to kind of talk the
language and understand what's going on. Because you're now a
professional athlete, Like you're not an amateur anymore. You're a
professional athlete. You need to represent yourself like professional athlete.
Speaker 2 (01:28):
All that and more is on the way on the
Bloomberg Business of Sports. But first Tiger Woods. He has
a new golf project that is trying to get new
younger fans interested in the sport and existing golf fans
Damian something to watch in the winter months.
Speaker 4 (01:44):
It's called TGL. And here to break it all down
for us, Michael barr Is Bloomberg Global Business Reporter Ira Budwey.
Speaker 2 (01:51):
Ira Budway, you have let me put it this way.
If golf met a game show, this is what you
would get. Which this is exciting Tiger Woods and he's
kicking off his new season. If you want to call
it indoor golf and I'm i talking putt buddy, or
you're you're hitting into a screen, tell us more about this.
Speaker 8 (02:13):
Yeah, this is TGL, the long awaited indoor made for
TV Golf League that began televising and the competition began
this month down in Palm Beach Gardens, Florida, and it's
pretty interesting. They've getten about a million viewers for it.
For the first two there was one. This is a
(02:35):
good question. So the company that founded it is called
Tomorrow Sports. It's Tiger Woods. Rory McElroy and a former
Golf Channel executive created this thing and their first project
is TGL. You could I thought it was just the
Golf League, but.
Speaker 2 (02:50):
No, that's what I thought.
Speaker 8 (02:51):
Yeah, and some people have said maybe it's Tomorrow Golf
League Tomorrow Style TWTMWRW. But if you ask the league,
they will say that it doesn't stand for anything. So
that's why in the story it's just teasy.
Speaker 4 (03:06):
Well, it may have to stand for Tiger good Luck,
because look, I mean here's what I think. It's very
cool tech. I mean the way the putting green moves
and all that cool stuff, and it's only gonna get better.
And I mean that, and that's what you're kind of
up against. But you know, for me, what it's missing,
I guess is a little bit more.
Speaker 9 (03:21):
Fundamental, you know.
Speaker 4 (03:22):
I mean, like when I watch any sporting event. You know,
I gotta like, what are the athletes really playing for? Right,
logical answer would be money, fine, okay, but you know,
then make every shot or make make it worth something
so that they're actually in the game as opposed to
giving gimmes the way they were. And then maybe it's
celebrity status, in which case, you know, you got to
get these athletes talking to the camera because it's kind
of right, it's like a game show. You know, you
(03:43):
want to get to know them and learn a little
bit more about them. And you know, I'm just looking
at it and I'm like, if it's raw talent or
you know, well then these guys have to play a
little bit like and you know, you got to see
their talent and and and so I'm just kind of
I was struggling with fundamentally what am I watching here?
Speaker 3 (03:58):
Do you know?
Speaker 4 (03:58):
And I know it's just the first you know, a
couple of met and it's going to change, obviously, But
I guess, you know, when I look at amateur sports,
and Michael Barr correct me if I'm wrong, you look
at any of these new leagues, women's sports, you know,
all that stuff that's coming out, you know some of
these kids, they're funny for their survival, and that to
me makes it more compelling, you know, And I just
need to see a little bit more skin in the game,
(04:20):
I guess. Does that make sense?
Speaker 7 (04:21):
Yeah?
Speaker 8 (04:21):
No, I think it is one of the main fundamental
issues that they will be up again. So just to
step back and describe the action for those who haven't watched,
like this is they're hitting the ball into a gigantic
screen that very cimulates where it lands. So you have
to believe a in that tech, right. I found it
a little bit like, is this really where the ball's going?
Speaker 2 (04:38):
When I watch it? Yeah, when I watch it in
a real course, it's a bumper.
Speaker 8 (04:44):
I believe that, right, There's no question about it. But
then there's the question of the stakes, right, how much
does this matter to the players. There's a twenty one
million dollar pot, nine million to the eventual winners. It's
a team format, so there's some money on the line,
but you're talking about a couple million per guy in
the end for winning. That's for these guys, not life
changing money. So the stake's there, maybe not that high.
(05:07):
Does anybody really care if Boston Common beats New York
Golf Club next Tuesday, right, right? Or are you just
tuning in for the novelty, in which case.
Speaker 9 (05:16):
That wears off?
Speaker 2 (05:17):
Or are you a player?
Speaker 4 (05:18):
Are you turning in to see Tiger Woods, which you are?
And then you want to see you know, you want
to see him take a little worse. Maybe not him,
but you want to see the players, you know, compete.
Speaker 8 (05:27):
You want to see them, right, And then for that
you need them to care about it. There needs to
be an audience that cares. And then you I think, also, yeah,
there's a question of well maybe if it's not that,
if it's entertainment value, what are they bringing extra exactly?
And so this is what the match right started out
great when they did Phil Micholson Tiger Woods.
Speaker 4 (05:45):
Talking in the golf cart. You know, I mean Phil
was great in that because telling you what he's thinking
when he approaches a putt.
Speaker 2 (05:52):
Now, what what does it mean?
Speaker 7 (05:53):
Now?
Speaker 2 (05:53):
Because it's one thing Tiger Woods is playing on the green,
But then I see music by Little John It's like,
what is that all about?
Speaker 8 (06:01):
So that's the thing that I found a little bit
much was that they are trying to make it appeal
to a younger audience. It's not just feed golf fans
on Tuesday night when they're not used to seeing golf
in a format they haven't seen before. It's bringing people
who maybe aren't that interested in golf with a new
way of playing it that's kind of like a video game.
And so to that end, this is team play. The
(06:22):
teams are introduced to music, they're all the players are
miked up. There's a little bit of trash talk. They
have celebrities, they're the owners are celebrities. So Serena Williams
owns a team and she was sitting there with the
so they're cutting to them. Sometimes they're micd up. You're
hearing them interact with the players. So they're definitely going
(06:43):
for something that brings an element maybe that would attract
a non golf fan or a younger golf viewer. So
you know, my twelve year old son I mentioned in
the column I wrote about it, he was more into
it than I was.
Speaker 2 (06:55):
See, I got excited about Tiger Woods. But we also
have to talk to you about the NFL expanding overseas,
and we just recently had an interview with Roger Goodell
and he sat down with David Rubinstein for Bloomberg TV,
and what Goddell was saying was, Hey, Brazil loves this game,
(07:19):
and we might see more games in Brazil and more
in London.
Speaker 8 (07:24):
Yeah, he studied. The target is sixteen games internationally per season,
and even floated the notion of sort of putting a
conference somewhere outside the US because obviously the issue when
you do it on one or two teams, it's a
huge competitive disadvantage for whichever team is flying across the
Atlantic for all their games or wherever it may be.
(07:45):
So it doesn't really work, it's not feasible. But if
you could create a group of division.
Speaker 4 (07:51):
So this is where I think he's going. I mean,
I heard this interview, and you know, it sounds like
he wants to form a European division, right like just
like a the AFC. I call it the AFC Far East.
I don't know, whatever you want to call it. But
you know London, you know, Munich or whatever, I mean,
you know, I don't know, and Paris. It would be
pretty I don't want to say easy to do, but
it would be easier if you had four teams over
(08:12):
there that can kind of play each other most weeks
and then they kind of you know, interspersed you know
through the US, and you know they're not constantly on
the road. But you know what else came out of
this interview, which I thought was just amazing, is they
are talking about extending the league schedule to eighteen games.
Michael Barr, that's another game for you and me and us,
you know, beers, you know, pool, chicken wings, you know,
(08:33):
the whole smash.
Speaker 2 (08:34):
Okay, I am all in agreement for that. And here's
Roger Goodell speaking with David Rubinstein about adding that extra game.
Speaker 10 (08:41):
If we continue to focus on the safety, I think
eighteen is a potential, And as you know, we would
take a preseason game away, so we would keep within
that twenty game framework. We actually started fourteen and six preseasons,
we went to sixteen and four and now seventeen and three,
so eighteen and two is a logical step, but we
would only do that with the players.
Speaker 4 (09:02):
That's NFL Commissioner Roger Goodell on the latest edition of
the David Rubinstein Show.
Speaker 2 (09:07):
Now, the next matter is that mister Goodell says he
could do this, and he said that the athletes are
trained better and they're able to avoid injuries.
Speaker 8 (09:18):
Right, Well, I mean, this is the question. Right, They're
trying to say, look, you get a twenty game schedule anyway,
what does it really matter if you make it seventeen
and three preseason and seventeen regular season? Are eighteen and two?
Speaker 7 (09:29):
Right?
Speaker 2 (09:30):
They want, they.
Speaker 8 (09:30):
Obviously want the biggest possible inventory of games that matter.
And what you run up against is the players in
the Union saying, well, hey, that's another real game of
damage and wear and tear and potential injury. And you know,
we're putting ourselves on the line here. What do we
get for that? And so the League of course is
going to say, well, there's been advances in the you know,
(09:51):
medicine and health, and it doesn't really but you know.
Speaker 4 (09:54):
Some of these situations now with with with private equity
taking minority stakes, you would think they could afford a
private jet, right, so so at least they're not going
to be like in buses and the you know, trainsplanes
and automobiles like running around the country. So you know,
from that perspective of alone and just going back to
the international expansion and and you know Thursday night games
and you know Wednesday night, Monday night and Sunday night
and all this the stuff that happens throughout the course
(10:15):
of a regular season. I mean you would think that,
you know, the league is getting a lot better at
handling all of that right and giving players sufficient time
to I guess rest between games, even though some sometimes
it doesn't seem that way. I mean, if that's where
you're headed short, I mean, they've got the bye week now,
you know, and they can extend that throughout the course
of a season just to give some space. I mean,
I think they need to. Because of high goodness, they
(10:36):
were all. I know, it didn't probably seem like it,
but to me, it seemed like there were more injuries
this year than I can ever remember in the history
of the NFL. I mean everyone went down. I mean,
from a fantasy football perspective, everyone went down this year.
Speaker 2 (10:47):
So I don't care what Roger Cadell thinks.
Speaker 4 (10:49):
I mean, I know I didn't have Christian McCaffrey playing
for my squad.
Speaker 8 (10:52):
Yeah, I mean this, I mean, you're right. The care
end is better, right, The travel, accommodations, all of that.
This sleep science, These ways that these players are taking
care of their nutrition and their bodies way advanced in
the early days. At the same time, the speed of
the game, the size of the players. Right, there's just
you're up against kind of physical limits. So if you're
playing more games against three hundred and ten pound defensive
(11:15):
ends who can also sprint, you know, and get pounded
by in that kind of a game, like, there's limits
to it. So it's a fascinating question that is playing out,
not just in the NFL. You're looking at Premier League,
European soccer, all these different sports. They want more inventory,
they want these players playing all the time. They want
them to fly all around the world and play all
these places, and a certain point their bodies are breaking down.
(11:36):
And so it's how do you strike that balance?
Speaker 9 (11:37):
All right?
Speaker 4 (11:38):
The other interesting thing that came out of that interview
on Michael Barr, you know, you feel free to weigh
in here. I mean, and did you know that Roger
Goodell could have been an assistant coach for the New
York Jets.
Speaker 9 (11:46):
Did you hear that?
Speaker 4 (11:46):
I mean, just just to be very clear, the New
York Jets, I mean, we would Roger Goodell his career
would have been over. I mean, they would have killed
that poor guy. Think about where Roger Goodell is today.
And this is nineteen eighty four. Go back, think about
where he is today fifty years later, if you had
taken that job to be an assistant coach for the Jets.
Speaker 2 (12:04):
Spoken like a true fan. Airah, thank you, man, I
appreciate it, Buddy for your choice. Savvy, very savvy our.
Thanks to Bloomberg Global Business reporter Ira Budway for joining.
Speaker 4 (12:18):
Us to hear the full conversation with NFL Commissioner Roger Goodell.
Watch The David Rubinstein Show Peer to Peer Conversations at
Bloomberg dot com and on YouTube. You can also listen
to it on Apple, Spotify, and all of your favorite
podcast platforms.
Speaker 2 (12:34):
And of course, mister David Rubinstein is host to peer
to peer conversations What's Airs on Bloomberg Radio and TV.
He is the co founder of the Carlisle Group, which
is among the approved firms to purchase a stake in
NFL clubs. Up next on the show, we hear a
special conversation with a former soccer star who is now
a minority owner in the Buffalo Bills for Damian Sasaur.
(12:57):
I'm Michael Barr. You're listening to the Bloomberg Business Sports
from Bloomberger Radio around the world.
Speaker 1 (13:05):
This is Bloomberg Business of Sports from Bloomberg Radio.
Speaker 2 (13:10):
This is the Bloomberg Business of Sports. We explored the
big money issues of the world of sports on Michael
Barr along with Damian Sasauer. Former soccer pro Josie Altador
had a nice career on the pitch, playing for several
teams in the MLS, for Toronto FC, and represented the
US in FIFA World Cups and the Olympics.
Speaker 4 (13:31):
Now he's turning his attention to the business side of sports.
He's part of a group of investors including former NBA
stars Tracy McGrady and Vince Carter, who owned a stake
in the Buffalo Bills.
Speaker 2 (13:41):
Bloomberg Original sports correspondent Vansa Berdomo got a chance to
sit down with Josie about his stake in the Bills,
soccer's growth in the US, and more. Let's listen in
on that conversation.
Speaker 11 (13:54):
So you're now part of the ownership of the Buffalo Bills.
They're onto the AFC Championship. Is the buzz like the
in the stadium?
Speaker 12 (14:02):
I mean it's you know, Look, I've obviously lucky enough
to play soccer for a long time and some great atmospheres,
but there's something unique about a Bill's game, the energy,
the fans, the tailgate, the lead up, the snow, like
all things that you would say, like how does that
make for a good time?
Speaker 1 (14:20):
Right?
Speaker 12 (14:20):
And Buffalo, it makes for an amazing time. So it was, Yeah,
it was surreal. And I brought my parents with me.
They got to experience it, so yeah, it was It
was awesome.
Speaker 11 (14:30):
What was their experience like being being in that space
with you too, as part of an ownership, not just
like watching a football game with you.
Speaker 12 (14:36):
Yeah, you know, it's that's a funny way to look
at it, like, you know, all of that kind of
hits you at the very end of the night when
you kind of just you know, take everything in.
Speaker 9 (14:43):
But I just wanted them to see what it was like.
You know.
Speaker 12 (14:45):
My mom always wondered like where the players run out
when we watch on TV.
Speaker 9 (14:49):
So I took her down the tunnel there so she.
Speaker 12 (14:51):
Can see how all that happens and where it goes
down and you know, stuff like that was so cool
and for her to just see the players up close
and my dad, like, it was just great to give
them that experience, but in a different way, like like
you said, not as a fan, but more so as
part of the group, you know, so it was cool.
Speaker 5 (15:07):
How was it for you being in that position?
Speaker 9 (15:10):
It was cool?
Speaker 12 (15:11):
You know, this is you know, I love sports. I'm
a huge sports advocate on what it does, you know,
for communities, for the world and how it connects people.
So you know, to to be living that right and
some of these transactions, it's pretty cool to me and
it's something I want to keep building on.
Speaker 11 (15:26):
How is it different for you as Josie Altator the
football fan to now being part of ownership? Do you
watch games differently? Are you sitting there differently thinking about
what's going to happen next? How does this get us
to the Super Bowl? All those things going through your mind?
Speaker 9 (15:40):
Yeah?
Speaker 12 (15:40):
Completely different now, you know I used to watch casually obviously,
you know, as a big fan always of the NFL,
But now it's definitely more so, you know, looking at
every you know, little thing and and and in a
different way. You know how the players are, you know
the energy, how they're playing, you know the fans. You know,
it all takes a different approach now when you're on
(16:00):
the other side. So but in the best ways, Like
I can't say that enough in the most positive positive ways.
Speaker 11 (16:06):
I'm curious you said, like the energy in the stadium
was so different, like something you haven't experienced before. How
do you compare World Cup audiences to that kind of
an audience.
Speaker 12 (16:17):
Yeah, it's just different in the sense where it's like,
like I had I've only seen that many that amount
of people at a game for soccer, like my whole life.
Speaker 9 (16:25):
So just going there and seeing that amount of people
and seeing.
Speaker 12 (16:28):
It's not soccer. It's completely different in a lot of ways,
but similar. Right, Like they sing mister Brightside right the Killers.
Speaker 9 (16:36):
I love that song.
Speaker 12 (16:36):
So like when I got to go there and sing
that with the fans, I was like, man, I felt
like I was always supposed to be here, you know.
So in those aspects it feels really familiar, the fan
engagement and all that, it feels great.
Speaker 11 (16:48):
Bills Mafia is honestly a hard a hard fandom not
to like.
Speaker 5 (16:52):
Even from the outside of it.
Speaker 11 (16:53):
You go, I love that, Yeah, they really are so.
Terry Bagoula is the majority owner of the Bills. Yes,
how is have been working with him? And what lessons
have you learned? You know from the business side already.
Speaker 12 (17:05):
You know obviously it's still fresh, but you know, just
in our conversations with not only with Terry but with
the entire group has been super positive and you really
get to see how much of a first class organization
it is the Buffalo Bills and so, you know, being
able to just you know, interact and communicate with different
you know, tiers of the organization, you know, you learn
(17:25):
a lot, and you learn a lot of how they
go about their business and that's a big part of it,
their relationships and how you treat them. So it's been
a fun ride. It's still early days, but you know,
I'm just trying to be you know, a sponge and
learn as much as I can, but also be as
helpful as it can be to the group.
Speaker 11 (17:42):
Are there any things about it that you've learned that
have surprised you in ways that they think of other
things or things maybe in ownership or running a team
that you hadn't even thought of before.
Speaker 12 (17:54):
You know, in that aspect, there's a lot of similarities
to soccer, right in terms of just an organization, you know,
the in terms of the fans and and and that
part of it. You know, obviously, the the NFL is
a different beast when it comes to the business side,
So you know, that part has been really interesting and
just learning, you know, different things about concessions and different
(18:15):
pricings and how teams do different things. Right, It's it's
eye opening, but it's also a good learning experience for
other leagues, right, selfishly for the MLS. You know, I'm
obviously a huge soccer lover, so I'm hopeful that our
league can take on some of these things and and
you know, be better to the consumer, because that's what
it's all about, right, the customer.
Speaker 11 (18:31):
Do you plan on taking that to the MLS with
some sort of ownership, Listen.
Speaker 12 (18:35):
That's obviously the goal, right, I'm a soccer guy at heart,
so you know, maybe in a perfect world that would
have everything would have happened in a different order, but
you know, look, I'm open to that. I'm going to
continue to work on it. And you know, there's a
lot happening in the MLS, a lot of good things.
Speaker 5 (18:50):
It's not a bad order to be in that get
into the NFL.
Speaker 12 (18:53):
Yeah, But but you know it's funny people don't really
know the order. So the order was actually the BAFC
and WSL, and.
Speaker 9 (18:59):
I'm really proud of it.
Speaker 5 (19:01):
Amazing.
Speaker 12 (19:01):
Yeah, that was my first real taste at sports ownership
and that whole process, like that's at a different level.
I mean, designing a crest, like morals, like all of
these club guidelines, you know, being part of all these
different type of discussions and learning what it takes to
put together you know, an organization on a real way
at the ground level.
Speaker 9 (19:21):
Was that was that.
Speaker 12 (19:23):
Helped me a ton And maybe people don't know that,
but the BFCNWSL transaction was my first and you know
a good learning experience for me.
Speaker 11 (19:32):
AFC is really incredible too because you're also working with
other former soccer players in that organization, Bernie Chstein, Leslie Osbourne,
you know, daniel Slaton, all these incredible other people. So
how is that process working with other athletes? I mean
you're also working with other athletes here in the Bills too,
Vince Carter and there's tracing Grady, but particularly AFC AFC exactly.
Speaker 12 (19:52):
So Danielle Slayton, like you said, and then Leslie Osbourne
for me, have been probably the most interaction I've had
and my wife has had for example with Danielle and
then me with Leslie and her husband Ricky Lewis like
the work they're more so on the ground. You know,
they go to a ton of games, and you know,
the work that they've been doing to try to you know,
increase all you know aspects of the business has been
(20:15):
incredible and getting to work on that with them has
been a ton of fun. And you know, just being
an advocate for the women's game I think has been
something like being more outwardly about it, I think is
important as a men's player, as an American men's player.
So that part of the process has been really, you know,
real fun and it just feels good to be a
part of something like that. And then when you see
(20:35):
the growth right now of women's sports, right so there's
also a business aspect to it too.
Speaker 5 (20:40):
Yeah, absolutely right.
Speaker 11 (20:41):
It's not just about you doing it because you love
the game and to help the women's games. But I
mean BFC came in with a mission and it was
to make money and be a great franchise and overall,
you know, they succeeded.
Speaker 5 (20:55):
Decently in the first season. But yeah, they did good.
Speaker 9 (20:58):
They did good.
Speaker 5 (20:58):
Yeah, yeah, you did.
Speaker 12 (21:00):
We had to say that we were good, you know,
but yeah, we did good. We had a great year,
tough year. We let go of some great players, but
that's sports, that's the business, and hopefully we just continue
to grow in the next season.
Speaker 3 (21:10):
Yeah.
Speaker 5 (21:10):
Absolutely, so good.
Speaker 9 (21:11):
That's your team though, right in NWSL BFC.
Speaker 5 (21:14):
I am a Jersey girls.
Speaker 11 (21:16):
I can't go against my gossip, but I but I
love BFC. You know, it's it's really it's funny for
me in the NWSL. I just I just love soccer.
I love women's soccer. So sometimes when I visit these
teams and I see new uniforms and stuff like that,
BFC came hard with the.
Speaker 9 (21:31):
Cress, it came correct.
Speaker 5 (21:32):
What it was the Jackets that I was killing. They
were killing it. You sound like a BFC fan, Okay, well,
I mean so it was great to watch the first
season for sure.
Speaker 11 (21:44):
I was at the their first game against Angel City
in LA. That was really that was really awesome to
see and listen anytime around a ninety nine er, I'll
just fan girl out.
Speaker 9 (21:53):
Okay, I'm the same way. I mean, I'm the same way,
and that was cool.
Speaker 12 (21:57):
I went to that game and seeing all of them
there like that was one of the biggest to me
and remains one of the biggest moments in US soccer
history was that World Cup final and how it transcended
the game, and you know, looking fast forwarding now to
twenty twenty six, can we deliver a similar moment?
Speaker 2 (22:13):
Right?
Speaker 13 (22:14):
That?
Speaker 9 (22:14):
That to me is you know, people are like, what
what is success?
Speaker 12 (22:18):
It's producing a moment like that which will then you know,
help both the women's game and men's game. Like we
saw that final in ninety eight, what the women did.
So that's to me is what's gonna tell us?
Speaker 5 (22:30):
What do you think it takes ninety nine? Sorry, I
think it's yeah, ninety nine.
Speaker 11 (22:33):
Do you think it takes the men being there to
create that moment or does it not have to be that?
Speaker 9 (22:38):
No, not at all.
Speaker 12 (22:39):
I think the culmination of it all and the fact
that it was at the Rose Bowl, Right, So when
I look at you know, the twenty twenty six it
doesn't really matter that it's the men. It's just it's
an American team on a huge platform in the United States.
Can we provide a moment like the ninety nine ers did?
Speaker 9 (22:56):
Right?
Speaker 12 (22:56):
So, that to me is how I look at it,
like you look at I think the before that was
four right, we went on the group stage that doesn't
do anything really to I mean it did because it
was here.
Speaker 5 (23:06):
Do you remember that the nineteen ninety four Men's World Cup.
Speaker 12 (23:08):
Yeah, that was in the US, So that one was
where That's where I fell in love with everything. My
dad taped that World Cup on VHS, So that's how
I got introduced to soccer. I watched, you know, all
those old legends Hadji back in the days, you know,
obviously Maridona, you know on you know, the latter end.
But like, that's why I got introduced to the game
ninety four.
Speaker 11 (23:27):
So twenty twenty six, we're already talking about it. I mean,
we're not the Rose Bull here in New York, New Jersey,
but we will have that that. We will have the
final and it's gonna be incredible. What else do you
think needs to happen to create that big moment and
to sustain it for the success of the MLS and
the end of USL.
Speaker 12 (23:44):
Yeah, I mean a good performance would help, right. A
good performance I think is important because you're also able
to convince investors right to say, hey, this is something
you should be investing in. You know, look at what
we're able to how we're able to affect the masses,
and so you know, not to make it, not to
dumb it down so simply, but to me, that's that's
what it is, you know, And and success has different facets.
(24:06):
But obviously leaving in the group stage is not something
that's gonna be beneficial, right winning it is a perfect world.
But I think just playing well and again the team
being represented well and putting on a good show is
important so that investors see that this is a place
that they want to you know, deploy capital and then
be a part of.
Speaker 11 (24:24):
So super early predictions, what are the US men going
to do in the twenty twenty sixth world.
Speaker 9 (24:30):
They're gonna do exactly what we talked about.
Speaker 12 (24:32):
You know, they're gonna they're gonna have big moments that
are going to captivate the masses in this country and
hopefully trigger a ton of investment, both in youth development
and you know, I'm a big believer of tech in
in soccer and how it's transcending you know, our everyday lives,
but also the sports world. So I think in those
two elements is where we have to focus, and I
(24:53):
think that that will make us, you know, continue to
grow and push the the narrative of of us being
a soccer nation.
Speaker 11 (25:01):
Yeah, well, we're gonna check back in with you next year.
I really want, you know, a prediction of what round
they're going to get it to.
Speaker 5 (25:08):
You know, we all hope for the best here.
Speaker 11 (25:09):
Well, I wish you good luck in your in your
pursuit for a Super Bowl win. Great good luck to
the Bills and hopefully we'll see you up there the
cheering of the team.
Speaker 5 (25:20):
Josie, thanks so much for signing by.
Speaker 9 (25:21):
Thank you for having me.
Speaker 2 (25:22):
That's Bloomberg Original sports correspondent Vanessa Perdomo speaking with former
soccer pro Josie Altador. Up next, we talk n I
L with former college basketball star Jimmer for that with
my colleagues Damien sas Sour and Vanessa Perdomo. I'm Michael Barr.
You're listening to the Bloomberg Business of Sports from Bloomberger
Radio around the world.
Speaker 1 (25:56):
This is Bloomberg Business of Sports from Blue Blomberg Radio.
Speaker 2 (26:01):
Thanks for joining us on the Bloomberg Business of Sports,
where we explore the big money issues in the world
of sports. Michael Barr along with Damian Sasaur My goodness,
look who we have here. We have Michael Haddocks junior.
He's the former NCAA basketball player at SANNA who is
now the founder and CEO of Scout of financial solutions
platform for college athletes. And you know this one Scout
(26:26):
investor and former nc DOUBLEA Player of the Year, Jimmer
Forde jim Or Michael Welcome to the Bloomberg Business of Sports.
Speaker 7 (26:34):
Thanks for having us, Thanks for having us. Well, I'm gonnayeah.
Speaker 13 (26:37):
Absolutely, this is this.
Speaker 2 (26:38):
I like this, man, this is we're talking NIL. Now.
I have to bring up this point. I know there
have been some confusion about NIL now today. It wasn't
as easy when they first brought it out. Now it's like, okay,
you know this athlete can get a sponsorship from forward
and this and that whatever. Now it involves a lot
(27:00):
of money. Can you help sort this out for us?
Speaker 7 (27:04):
Yeah, I'll jump on that first. Yeah.
Speaker 3 (27:07):
So, so a few years ago, you know, the sort
of Supreme Court came in and said, you know, players
were allowed to capitalize up their name, image and likeness.
Speaker 7 (27:16):
Right.
Speaker 3 (27:16):
If you think about if you're a nineteen year old
student at you know BYU, you can do a podcast,
you can be on YouTube, you can you can make
money a lot of different ways. But players weren't allowed
to do that because they were amateurs. And they said, hell,
it's unconstitutional. You should be able to make money in
the same way everybody else does. And that was off
your name, image and likeness, and that sort of exploded, right,
players to do commercials. You know, they can do appearances,
(27:37):
you know, they can do partnerships. And now what's coming
down the pipeline is revenue share. So now players have said,
you know, it's great for me to go outside of
the school and go, you know, make a couple of
dollars from the local car dealership.
Speaker 7 (27:49):
But also they're selling my jerseys in the stores.
Speaker 3 (27:52):
You know, these media deals are getting really substantial and
ticket sales go through the roof, right, so, and that's
sort of capitalizing off my own name, image and likeness.
Speaker 7 (28:00):
And they said, yeah, you know, you're right.
Speaker 3 (28:01):
So now on top of that sort of outside it
and these getting paid players are also getting paid directly
from the schools. Starting in July, a pizez of that revenue,
so pizza of the schools are the piece of the
money schools.
Speaker 7 (28:11):
Are generating is going directly to the players.
Speaker 3 (28:13):
Think about it similar to the NBA, right, your paycheck
from the Los Angeles Lakers and then you can go
sign and deal with Nike.
Speaker 7 (28:19):
That is what's happening now in college sports.
Speaker 4 (28:21):
Jimmy, I remember your path to the NBA. I mean
it wasn't that long ago, right, I mean, you're just
up eighty seven for me, I live in Westchester. You
grew up in Glenn's Falls. I think your father, if
I'm not mistaken, was a financial advisor as well, so
you have some experience, right, and you know the management
of kind of money for for athletes. Talk to us
a little bit about your role here at.
Speaker 2 (28:38):
Scott Yeah, no, for sure.
Speaker 6 (28:41):
My dad was a financial advisor, so I was. I
grew up around understanding the meaning of a dollar and
that was something that was important to me and to
my family. So I had a little bit more experience maybe,
you know, going into the NBA than most guys do.
And that's when you're twenty one, twenty two years old,
(29:02):
usually getting into the NBA and you've been through college
and you know, you're starting to understand a little bit
more about money. But now it's you know, seventeen eighteen
year olds that are coming into college and now they
need to start learning about money, right, And you're not
thinking about that in college.
Speaker 7 (29:19):
Right.
Speaker 6 (29:19):
You may have just started getting your first paycheck in
high school, you know, working at the local McDonald's or
whatever it is, right, and you're just starting to try.
Speaker 13 (29:28):
To come in to understanding these things.
Speaker 6 (29:30):
So now when you get to college and all of
a sudden, school is offering you, whatever it is, a
couple million dollars as an eighteen year old, you're trying
to be all right, well.
Speaker 13 (29:39):
Do this is amazing?
Speaker 7 (29:40):
Right?
Speaker 6 (29:41):
I have all this money that I can use, but
what do I do with it? And I think that's
where why I, you know, jumped in and wanted to
be an investor in Scout because you know, they want
to empower student athletes to think like entrepreneurs, but also
want them to be you know, financially they want Scout
wants them to understand what they need to do financially.
There's taxes that come with these things. There's other you know,
(30:02):
things that come with making a lot of money. And
where are you going to put that money and how
are you going to use it? And how are you
going to use that to empower yourself as you move
forward and learn about saving and all these different things
that you're not thinking about as a high school student.
So you know, I jumped in on Scout and was
all in because of what they were trying to do.
And it's been it's been a great ride so far.
Speaker 9 (30:23):
Michael.
Speaker 4 (30:23):
Well, let me bring you back into this here, because
you know, I like to think of you as a
finance bro. You started your career, you know, Goldman Wizard, right.
Speaker 2 (30:30):
And now I like that finance you know what I mean.
Speaker 4 (30:32):
He's probably got a nice past time, you know, a
little golf log of the country club.
Speaker 3 (30:36):
Right.
Speaker 2 (30:37):
I'm just kidding, But.
Speaker 4 (30:37):
Michael, seriously, I mean, like, how did you wind up here?
Like what's the path that took you here? And you know,
to Jimmer's point, you know, I mean today's athlete are
they Are they more inclined to, you know, manage their
money and manage their affairs virtually or do they really
need that personal, that human interaction that you would have
kind of traditionally expected in years past.
Speaker 7 (30:56):
Yeah, it's a great question. I think.
Speaker 3 (30:57):
The first piece is it's funny me and Jim or
Mett used on his visit to see it when I
was playing there. He lived far off the road, you know,
each other for for a long time. But my journey,
you know, probably starts back to my dad. My dad
was a number eight pick in the NFL draft in
eighty three, and I lived through kind of the end
of the financial journey, right, what happens when it's over,
what happens when the money runs out, and how people
treat you.
Speaker 7 (31:16):
So I lived through that experience. It's funny.
Speaker 3 (31:19):
I became a quote unquote finance bro, went to Columbia
for business school, worked on Wall Street.
Speaker 7 (31:23):
But the whole time, I knew that I was a
little different.
Speaker 12 (31:26):
Right.
Speaker 3 (31:26):
My dad didn't grow up in the country club, right,
We didn't wear the vests around the house. I was
learning about this for the first time at like thirty
years old, and I was like, wait a minute, you know,
nineteen year old me would have really benefited from knowing
how to invest my money and how to save and
all these things that I think a lot of people
that worked on Wall Street with me had known for
so long. And I was like, man, this is we
got to bring this to the masses and bring it
(31:47):
to people that you know, been We've been around for
a long time.
Speaker 7 (31:49):
And I was just athletes. So I grew up in
the world of athletes.
Speaker 3 (31:51):
So I managed money for pro athletes for a while,
had a spinoff of bock to guy in the agency,
and then I just knew, you know, I wanted to
do something a little broader, right, you talk about that
hand to hand touch. And I started to do some
research and see a lot of the companies out there
if you've got to familiar with things like you know,
Robinhood to an extent, but money lying and so far
we've seen this movement of like these tech brit based
(32:14):
or financial platforms, and everybody's seeming really really comfortable even
to look at, like you know what PayPal and Venomow
have become, right, People getting really comfortable using tech to
manage their finances and find the tools that they need.
And I was like, you know, these young players that
are now making money in college are the most tech
savvy people on the planet. And the other thing that
I thought was really unique was in the world of
(32:35):
finance bros. How how do the athletes have someone that
they can lean on that is, you know, as smart
and quote unquote as a finance bro, but also speaks
their language and as a tool that speaks their language.
I was like, let's blend this stuff together and go
sort of change the opportunities of these young people.
Speaker 7 (32:49):
I think that the other.
Speaker 3 (32:50):
Piece that I think is really really important is, you know,
I always see this a lot, right, Like the numbers
at the pro level haven't gotten any bigger. So all
this money being spread out in college, they're still only
like one percent of players that it'll be pro. So this
money in college is and most of these players are
ever going to make a lot of them. So now
let's take this and create this springboard to help them
(33:10):
become you know, Jimmers has this VC fund, right, these
players are doing really cool things, or I started a
tech company. I'm no means on the same levels a
player as Jimmer. I'm just you know, I'm a former
college athlete. But but I just thought, you know, let's
help these players navigate the rest of their lives in
a way that's really aligned with who they are kind
of you know, their their mindsets, right, they become bread
(33:31):
winners overnight.
Speaker 7 (33:33):
So they're just in a really different place.
Speaker 3 (33:34):
So how do we build something for them and give
them a finance bro that you know looks and feels
like them with basketball shorts and if you see me right,
I got a hood to going, so basketball shorts on
in a hoodie.
Speaker 4 (33:43):
Michael Barr, can you believe this? We're talking to mister
Haddocks here as a father who has played running back
for the Phoodelphy Eagles in Green Bay By I mean,
this is unbelievable. So he's really well qualified, really been
in this for his whole life.
Speaker 2 (33:56):
I feel so old.
Speaker 4 (33:58):
I'm feeling old too.
Speaker 9 (33:59):
I mean I remember, Michael.
Speaker 2 (34:00):
I mean, I'm like, oh man, it's like you know,
I had the rabbit ears and I'm trying to anyway,
don't worry about I want to This one is for
Jimmer here. Unfortunately, you've heard some NIL stories and it
turned into nightmares because either you know, NCAA teams or
(34:21):
college teams they said, look, we're not going to play
because we haven't gotten paid. And a lot of that
has to do with the middleman. Can you explain more
about where this is going and how can we solve
that problem?
Speaker 13 (34:39):
It's a great question.
Speaker 6 (34:40):
I mean, it's something that obviously has not been solved yet.
And I think you know the first couple of years
of NIL, it's it's still super early in this and
I think they were, you know, originally thinking hey, the
players can make money off of their name aage of likeness,
great awesome opportunity. But now you know, collectives and all
of these things that go into college athletes now are
(35:03):
getting involved in getting athletes to come to the schools.
And when you have collectives involved, that's boosters, that's people
that have been in business before, entrepreneurs, people that are
high net worth individuals coming in and a lot of
times they're coming in and saying, hey, we're gonna, you know,
give money to a student athlete, but we're going to
have them sign a contract. And if that contract is
(35:27):
not like air tight, or they have some clause in
it or whatever it may be, and the student athlete
doesn't have representation with them that is really well versed
in looking at contracts or whatever it may be, that
that's where I.
Speaker 13 (35:41):
Think the issue is kind of falling into.
Speaker 6 (35:43):
At this point where they're signing, they're signing agreements and
either the school doesn't have the money or they do
have the money, and then they have some type of
loophole or it's like, well, you didn't do this and
we can get out of it because of this, and
we don't have to pay you and the athletes like
what's going on. I think that there's a lot of
that going on, and obviously I think that needs to change.
There needs to be some type of regulation, you know,
(36:07):
moving forward of a standard contract maybe that they may
have for student athletes that are signing an IL deals
or just signing deals to come to the.
Speaker 13 (36:15):
School, whatever that may be. And you know, I think
that's you know, one of.
Speaker 6 (36:20):
The things for me, why this is so important, is
is to try to help these student athletes understand, like
you need you need to find someone that's on your side,
you know, that understands what they're doing. So when you
get into these meetings, you are able to kind of
talk the language and understand what's going on. Because you're
now a professional athlete, Like you're not an amateur anymore.
Speaker 13 (36:39):
You're a professional athlete.
Speaker 6 (36:40):
You need to represent yourself like professional athlete and get
people around you that know what they're doing.
Speaker 13 (36:45):
And that's a very.
Speaker 6 (36:46):
Big shift, like I said, for a seventeen eighteen year
old kid that's coming into college.
Speaker 13 (36:51):
But it's the reality of the situation and it's what
needs to happen.
Speaker 4 (36:54):
Jimmy, I'd like to ask you I mean, you know,
today's athlete, you know, the management of money doesn't end
with the usport or if you follow me, right, these
athletes today, Yeah, they may not make the NBA, but
then they have stellar careers making money abroad, right internationally,
and you know, tell me a little bit about how
Scout can help that individual right.
Speaker 6 (37:10):
For me, like, you know, obviously, yeah, being able to
have a great career and play in the NBA and
then be able to go overseas and play you know,
six years overseas, twelve years combined.
Speaker 13 (37:20):
I mean, it was just an amazing experience.
Speaker 6 (37:21):
And you know, you know started and uh, you know,
the NBA obviously found a financial advisor and kind of
kept it through. But you know, if I were someone
at that time receiving an aisle money and I was
on Scout, that's something that I would have brought with
me to be able to help continue to help do
my taxes and and help me save money. And I
(37:41):
think the reason being is because when you get into
that college situation and then all of a sudden you're
you know, involved with Scout. You feel familiar with that platform,
you feel familiar with the people that are involved with it,
and you know, I feel like it's something that's a
little bit more sticky, especially for people who are going
to play overseas.
Speaker 2 (37:59):
Jim or Michael, we are very appreciative. Thank you so much, gentlemen.
Speaker 13 (38:03):
Thanks for having me. This was awesome. Thank you so much.
Speaker 2 (38:06):
That's Michael Haddix, junior founder and CEO of Scout and
former NCAA star and Scout investor Jimmer Fredett. That does
it for this week's edition of The Bloomberg Business of Sports.
For my colleague Damian Sasaur, I'm Michael Barr. Tune in
again next week for the latest on the stories moving
big money in the world of sports, and do not
(38:26):
forget to catch our podcast on all your podcast platforms.
You're 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):
The business of sports can be intimidating or hard for
a starting to break into.
Speaker 3 (00:14):
We really appreciate when our owners are actually there, you know,
with us through the journey.
Speaker 4 (00:18):
Teams ours especially have been very intentional to diversify at
all levels.
Speaker 5 (00:22):
Of the company.
Speaker 6 (00:23):
I think we're in bolden years for the NFL and
college football.
Speaker 7 (00:26):
Our demographic reach has continued to exploise.
Speaker 3 (00:29):
This is going to be really unlocking the streaming platform
for sports fans.
Speaker 2 (00:34):
Sports evaluations arising. We'll see when they peak.
Speaker 3 (00:37):
You don't have to be the best in your sport
to make a whole ton of money.
Speaker 1 (00:42):
Bloomberg Business of Sports from Bloomberg Radio.
Speaker 2 (00:47):
This is the Bloomberg Business of Sports, where we explore
the big money issues in the world of sports. I'm
Michael barn and I'm Damian sasaurg Scarlett Food. She's on assignment.
Coming up wheel here from former college basketball star Jimmer Ford.
He is investing in a new financial wellness program for
student athletes called Scout.
Speaker 4 (01:05):
We'll talk with Jim Er about the platform and about
how NIL is changing the way student athletes approach college sports.
Speaker 6 (01:12):
You need to find someone that's on your side, you know,
that understands what they're doing. So when you get into
these meetings, you are able to kind of talk the
language and understand what's going on. Because you're now a
professional athlete, Like you're not an amateur anymore. You're a
professional athlete. You need to represent yourself like professional athlete.
Speaker 2 (01:28):
All that and more is on the way on the
Bloomberg Business of Sports. But first Tiger Woods. He has
a new golf project that is trying to get new
younger fans interested in the sport and existing golf fans
Damian something to watch in the winter months.
Speaker 4 (01:44):
It's called TGL. And here to break it all down
for us, Michael barr Is Bloomberg Global Business Reporter Ira Budwey.
Speaker 2 (01:51):
Ira Budway, you have let me put it this way.
If golf met a game show, this is what you
would get. Which this is exciting Tiger Woods and he's
kicking off his new season. If you want to call
it indoor golf and I'm i talking putt buddy, or
you're you're hitting into a screen, tell us more about this.
Speaker 8 (02:13):
Yeah, this is TGL, the long awaited indoor made for
TV Golf League that began televising and the competition began
this month down in Palm Beach Gardens, Florida, and it's
pretty interesting. They've getten about a million viewers for it.
For the first two there was one. This is a
(02:35):
good question. So the company that founded it is called
Tomorrow Sports. It's Tiger Woods. Rory McElroy and a former
Golf Channel executive created this thing and their first project
is TGL. You could I thought it was just the
Golf League, but.
Speaker 2 (02:50):
No, that's what I thought.
Speaker 8 (02:51):
Yeah, and some people have said maybe it's Tomorrow Golf
League Tomorrow Style TWTMWRW. But if you ask the league,
they will say that it doesn't stand for anything. So
that's why in the story it's just teasy.
Speaker 4 (03:06):
Well, it may have to stand for Tiger good Luck,
because look, I mean here's what I think. It's very
cool tech. I mean the way the putting green moves
and all that cool stuff, and it's only gonna get better.
And I mean that, and that's what you're kind of
up against. But you know, for me, what it's missing,
I guess is a little bit more.
Speaker 9 (03:21):
Fundamental, you know.
Speaker 4 (03:22):
I mean, like when I watch any sporting event. You know,
I gotta like, what are the athletes really playing for? Right,
logical answer would be money, fine, okay, but you know,
then make every shot or make make it worth something
so that they're actually in the game as opposed to
giving gimmes the way they were. And then maybe it's
celebrity status, in which case, you know, you got to
get these athletes talking to the camera because it's kind
of right, it's like a game show. You know, you
(03:43):
want to get to know them and learn a little
bit more about them. And you know, I'm just looking
at it and I'm like, if it's raw talent or
you know, well then these guys have to play a
little bit like and you know, you got to see
their talent and and and so I'm just kind of
I was struggling with fundamentally what am I watching here?
Speaker 3 (03:58):
Do you know?
Speaker 4 (03:58):
And I know it's just the first you know, a
couple of met and it's going to change, obviously, But
I guess, you know, when I look at amateur sports,
and Michael Barr correct me if I'm wrong, you look
at any of these new leagues, women's sports, you know,
all that stuff that's coming out, you know some of
these kids, they're funny for their survival, and that to
me makes it more compelling, you know, And I just
need to see a little bit more skin in the game,
(04:20):
I guess. Does that make sense?
Speaker 7 (04:21):
Yeah?
Speaker 8 (04:21):
No, I think it is one of the main fundamental
issues that they will be up again. So just to
step back and describe the action for those who haven't watched,
like this is they're hitting the ball into a gigantic
screen that very cimulates where it lands. So you have
to believe a in that tech, right. I found it
a little bit like, is this really where the ball's going?
Speaker 2 (04:38):
When I watch it? Yeah, when I watch it in
a real course, it's a bumper.
Speaker 8 (04:44):
I believe that, right, There's no question about it. But
then there's the question of the stakes, right, how much
does this matter to the players. There's a twenty one
million dollar pot, nine million to the eventual winners. It's
a team format, so there's some money on the line,
but you're talking about a couple million per guy in
the end for winning. That's for these guys, not life
changing money. So the stake's there, maybe not that high.
(05:07):
Does anybody really care if Boston Common beats New York
Golf Club next Tuesday, right, right? Or are you just
tuning in for the novelty, in which case.
Speaker 9 (05:16):
That wears off?
Speaker 2 (05:17):
Or are you a player?
Speaker 4 (05:18):
Are you turning in to see Tiger Woods, which you are?
And then you want to see you know, you want
to see him take a little worse. Maybe not him,
but you want to see the players, you know, compete.
Speaker 8 (05:27):
You want to see them, right, And then for that
you need them to care about it. There needs to
be an audience that cares. And then you I think, also, yeah,
there's a question of well maybe if it's not that,
if it's entertainment value, what are they bringing extra exactly?
And so this is what the match right started out
great when they did Phil Micholson Tiger Woods.
Speaker 4 (05:45):
Talking in the golf cart. You know, I mean Phil
was great in that because telling you what he's thinking
when he approaches a putt.
Speaker 2 (05:52):
Now, what what does it mean?
Speaker 7 (05:53):
Now?
Speaker 2 (05:53):
Because it's one thing Tiger Woods is playing on the green,
But then I see music by Little John It's like,
what is that all about?
Speaker 8 (06:01):
So that's the thing that I found a little bit
much was that they are trying to make it appeal
to a younger audience. It's not just feed golf fans
on Tuesday night when they're not used to seeing golf
in a format they haven't seen before. It's bringing people
who maybe aren't that interested in golf with a new
way of playing it that's kind of like a video game.
And so to that end, this is team play. The
(06:22):
teams are introduced to music, they're all the players are
miked up. There's a little bit of trash talk. They
have celebrities, they're the owners are celebrities. So Serena Williams
owns a team and she was sitting there with the
so they're cutting to them. Sometimes they're micd up. You're
hearing them interact with the players. So they're definitely going
(06:43):
for something that brings an element maybe that would attract
a non golf fan or a younger golf viewer. So
you know, my twelve year old son I mentioned in
the column I wrote about it, he was more into
it than I was.
Speaker 2 (06:55):
See, I got excited about Tiger Woods. But we also
have to talk to you about the NFL expanding overseas,
and we just recently had an interview with Roger Goodell
and he sat down with David Rubinstein for Bloomberg TV,
and what Goddell was saying was, Hey, Brazil loves this game,
(07:19):
and we might see more games in Brazil and more
in London.
Speaker 8 (07:24):
Yeah, he studied. The target is sixteen games internationally per season,
and even floated the notion of sort of putting a
conference somewhere outside the US because obviously the issue when
you do it on one or two teams, it's a
huge competitive disadvantage for whichever team is flying across the
Atlantic for all their games or wherever it may be.
(07:45):
So it doesn't really work, it's not feasible. But if
you could create a group of division.
Speaker 4 (07:51):
So this is where I think he's going. I mean,
I heard this interview, and you know, it sounds like
he wants to form a European division, right like just
like a the AFC. I call it the AFC Far East.
I don't know, whatever you want to call it. But
you know London, you know, Munich or whatever, I mean,
you know, I don't know, and Paris. It would be
pretty I don't want to say easy to do, but
it would be easier if you had four teams over
(08:12):
there that can kind of play each other most weeks
and then they kind of you know, interspersed you know
through the US, and you know they're not constantly on
the road. But you know what else came out of
this interview, which I thought was just amazing, is they
are talking about extending the league schedule to eighteen games.
Michael Barr, that's another game for you and me and us,
you know, beers, you know, pool, chicken wings, you know,
(08:33):
the whole smash.
Speaker 2 (08:34):
Okay, I am all in agreement for that. And here's
Roger Goodell speaking with David Rubinstein about adding that extra game.
Speaker 10 (08:41):
If we continue to focus on the safety, I think
eighteen is a potential, And as you know, we would
take a preseason game away, so we would keep within
that twenty game framework. We actually started fourteen and six preseasons,
we went to sixteen and four and now seventeen and three,
so eighteen and two is a logical step, but we
would only do that with the players.
Speaker 4 (09:02):
That's NFL Commissioner Roger Goodell on the latest edition of
the David Rubinstein Show.
Speaker 2 (09:07):
Now, the next matter is that mister Goodell says he
could do this, and he said that the athletes are
trained better and they're able to avoid injuries.
Speaker 8 (09:18):
Right, Well, I mean, this is the question. Right, They're
trying to say, look, you get a twenty game schedule anyway,
what does it really matter if you make it seventeen
and three preseason and seventeen regular season? Are eighteen and two?
Speaker 7 (09:29):
Right?
Speaker 2 (09:30):
They want, they.
Speaker 8 (09:30):
Obviously want the biggest possible inventory of games that matter.
And what you run up against is the players in
the Union saying, well, hey, that's another real game of
damage and wear and tear and potential injury. And you know,
we're putting ourselves on the line here. What do we
get for that? And so the League of course is
going to say, well, there's been advances in the you know,
(09:51):
medicine and health, and it doesn't really but you know.
Speaker 4 (09:54):
Some of these situations now with with with private equity
taking minority stakes, you would think they could afford a
private jet, right, so so at least they're not going
to be like in buses and the you know, trainsplanes
and automobiles like running around the country. So you know,
from that perspective of alone and just going back to
the international expansion and and you know Thursday night games
and you know Wednesday night, Monday night and Sunday night
and all this the stuff that happens throughout the course
(10:15):
of a regular season. I mean you would think that,
you know, the league is getting a lot better at
handling all of that right and giving players sufficient time
to I guess rest between games, even though some sometimes
it doesn't seem that way. I mean, if that's where
you're headed short, I mean, they've got the bye week now,
you know, and they can extend that throughout the course
of a season just to give some space. I mean,
I think they need to. Because of high goodness, they
(10:36):
were all. I know, it didn't probably seem like it,
but to me, it seemed like there were more injuries
this year than I can ever remember in the history
of the NFL. I mean everyone went down. I mean,
from a fantasy football perspective, everyone went down this year.
Speaker 2 (10:47):
So I don't care what Roger Cadell thinks.
Speaker 4 (10:49):
I mean, I know I didn't have Christian McCaffrey playing
for my squad.
Speaker 8 (10:52):
Yeah, I mean this, I mean, you're right. The care
end is better, right, The travel, accommodations, all of that.
This sleep science, These ways that these players are taking
care of their nutrition and their bodies way advanced in
the early days. At the same time, the speed of
the game, the size of the players. Right, there's just
you're up against kind of physical limits. So if you're
playing more games against three hundred and ten pound defensive
(11:15):
ends who can also sprint, you know, and get pounded
by in that kind of a game, like, there's limits
to it. So it's a fascinating question that is playing out,
not just in the NFL. You're looking at Premier League,
European soccer, all these different sports. They want more inventory,
they want these players playing all the time. They want
them to fly all around the world and play all
these places, and a certain point their bodies are breaking down.
(11:36):
And so it's how do you strike that balance?
Speaker 9 (11:37):
All right?
Speaker 4 (11:38):
The other interesting thing that came out of that interview
on Michael Barr, you know, you feel free to weigh
in here. I mean, and did you know that Roger
Goodell could have been an assistant coach for the New
York Jets.
Speaker 9 (11:46):
Did you hear that?
Speaker 4 (11:46):
I mean, just just to be very clear, the New
York Jets, I mean, we would Roger Goodell his career
would have been over. I mean, they would have killed
that poor guy. Think about where Roger Goodell is today.
And this is nineteen eighty four. Go back, think about
where he is today fifty years later, if you had
taken that job to be an assistant coach for the Jets.
Speaker 2 (12:04):
Spoken like a true fan. Airah, thank you, man, I
appreciate it, Buddy for your choice. Savvy, very savvy our.
Thanks to Bloomberg Global Business reporter Ira Budway for joining.
Speaker 4 (12:18):
Us to hear the full conversation with NFL Commissioner Roger Goodell.
Watch The David Rubinstein Show Peer to Peer Conversations at
Bloomberg dot com and on YouTube. You can also listen
to it on Apple, Spotify, and all of your favorite
podcast platforms.
Speaker 2 (12:34):
And of course, mister David Rubinstein is host to peer
to peer conversations What's Airs on Bloomberg Radio and TV.
He is the co founder of the Carlisle Group, which
is among the approved firms to purchase a stake in
NFL clubs. Up next on the show, we hear a
special conversation with a former soccer star who is now
a minority owner in the Buffalo Bills for Damian Sasaur.
(12:57):
I'm Michael Barr. You're listening to the Bloomberg Business Sports
from Bloomberger Radio around the world.
Speaker 1 (13:05):
This is Bloomberg Business of Sports from Bloomberg Radio.
Speaker 2 (13:10):
This is the Bloomberg Business of Sports. We explored the
big money issues of the world of sports on Michael
Barr along with Damian Sasauer. Former soccer pro Josie Altador
had a nice career on the pitch, playing for several
teams in the MLS, for Toronto FC, and represented the
US in FIFA World Cups and the Olympics.
Speaker 4 (13:31):
Now he's turning his attention to the business side of sports.
He's part of a group of investors including former NBA
stars Tracy McGrady and Vince Carter, who owned a stake
in the Buffalo Bills.
Speaker 2 (13:41):
Bloomberg Original sports correspondent Vansa Berdomo got a chance to
sit down with Josie about his stake in the Bills,
soccer's growth in the US, and more. Let's listen in
on that conversation.
Speaker 11 (13:54):
So you're now part of the ownership of the Buffalo Bills.
They're onto the AFC Championship. Is the buzz like the
in the stadium?
Speaker 12 (14:02):
I mean it's you know, Look, I've obviously lucky enough
to play soccer for a long time and some great atmospheres,
but there's something unique about a Bill's game, the energy,
the fans, the tailgate, the lead up, the snow, like
all things that you would say, like how does that
make for a good time?
Speaker 1 (14:20):
Right?
Speaker 12 (14:20):
And Buffalo, it makes for an amazing time. So it was, Yeah,
it was surreal. And I brought my parents with me.
They got to experience it, so yeah, it was It
was awesome.
Speaker 11 (14:30):
What was their experience like being being in that space
with you too, as part of an ownership, not just
like watching a football game with you.
Speaker 12 (14:36):
Yeah, you know, it's that's a funny way to look
at it, like, you know, all of that kind of
hits you at the very end of the night when
you kind of just you know, take everything in.
Speaker 9 (14:43):
But I just wanted them to see what it was like.
You know.
Speaker 12 (14:45):
My mom always wondered like where the players run out
when we watch on TV.
Speaker 9 (14:49):
So I took her down the tunnel there so she.
Speaker 12 (14:51):
Can see how all that happens and where it goes
down and you know, stuff like that was so cool
and for her to just see the players up close
and my dad, like, it was just great to give
them that experience, but in a different way, like like
you said, not as a fan, but more so as
part of the group, you know, so it was cool.
Speaker 5 (15:07):
How was it for you being in that position?
Speaker 9 (15:10):
It was cool?
Speaker 12 (15:11):
You know, this is you know, I love sports. I'm
a huge sports advocate on what it does, you know,
for communities, for the world and how it connects people.
So you know, to to be living that right and
some of these transactions, it's pretty cool to me and
it's something I want to keep building on.
Speaker 11 (15:26):
How is it different for you as Josie Altator the
football fan to now being part of ownership? Do you
watch games differently? Are you sitting there differently thinking about
what's going to happen next? How does this get us
to the Super Bowl? All those things going through your mind?
Speaker 9 (15:40):
Yeah?
Speaker 12 (15:40):
Completely different now, you know I used to watch casually obviously,
you know, as a big fan always of the NFL,
But now it's definitely more so, you know, looking at
every you know, little thing and and and in a
different way. You know how the players are, you know
the energy, how they're playing, you know the fans. You know,
it all takes a different approach now when you're on
(16:00):
the other side. So but in the best ways, Like
I can't say that enough in the most positive positive ways.
Speaker 11 (16:06):
I'm curious you said, like the energy in the stadium
was so different, like something you haven't experienced before. How
do you compare World Cup audiences to that kind of
an audience.
Speaker 12 (16:17):
Yeah, it's just different in the sense where it's like,
like I had I've only seen that many that amount
of people at a game for soccer, like my whole life.
Speaker 9 (16:25):
So just going there and seeing that amount of people
and seeing.
Speaker 12 (16:28):
It's not soccer. It's completely different in a lot of ways,
but similar. Right, Like they sing mister Brightside right the Killers.
Speaker 9 (16:36):
I love that song.
Speaker 12 (16:36):
So like when I got to go there and sing
that with the fans, I was like, man, I felt
like I was always supposed to be here, you know.
So in those aspects it feels really familiar, the fan
engagement and all that, it feels great.
Speaker 11 (16:48):
Bills Mafia is honestly a hard a hard fandom not
to like.
Speaker 5 (16:52):
Even from the outside of it.
Speaker 11 (16:53):
You go, I love that, Yeah, they really are so.
Terry Bagoula is the majority owner of the Bills. Yes,
how is have been working with him? And what lessons
have you learned? You know from the business side already.
Speaker 12 (17:05):
You know obviously it's still fresh, but you know, just
in our conversations with not only with Terry but with
the entire group has been super positive and you really
get to see how much of a first class organization
it is the Buffalo Bills and so, you know, being
able to just you know, interact and communicate with different
you know, tiers of the organization, you know, you learn
(17:25):
a lot, and you learn a lot of how they
go about their business and that's a big part of it,
their relationships and how you treat them. So it's been
a fun ride. It's still early days, but you know,
I'm just trying to be you know, a sponge and
learn as much as I can, but also be as
helpful as it can be to the group.
Speaker 11 (17:42):
Are there any things about it that you've learned that
have surprised you in ways that they think of other
things or things maybe in ownership or running a team
that you hadn't even thought of before.
Speaker 12 (17:54):
You know, in that aspect, there's a lot of similarities
to soccer, right in terms of just an organization, you know,
the in terms of the fans and and and that
part of it. You know, obviously, the the NFL is
a different beast when it comes to the business side,
So you know, that part has been really interesting and
just learning, you know, different things about concessions and different
(18:15):
pricings and how teams do different things. Right, It's it's
eye opening, but it's also a good learning experience for
other leagues, right, selfishly for the MLS. You know, I'm
obviously a huge soccer lover, so I'm hopeful that our
league can take on some of these things and and
you know, be better to the consumer, because that's what
it's all about, right, the customer.
Speaker 11 (18:31):
Do you plan on taking that to the MLS with
some sort of ownership, Listen.
Speaker 12 (18:35):
That's obviously the goal, right, I'm a soccer guy at heart,
so you know, maybe in a perfect world that would
have everything would have happened in a different order, but
you know, look, I'm open to that. I'm going to
continue to work on it. And you know, there's a
lot happening in the MLS, a lot of good things.
Speaker 5 (18:50):
It's not a bad order to be in that get
into the NFL.
Speaker 12 (18:53):
Yeah, But but you know it's funny people don't really
know the order. So the order was actually the BAFC
and WSL, and.
Speaker 9 (18:59):
I'm really proud of it.
Speaker 5 (19:01):
Amazing.
Speaker 12 (19:01):
Yeah, that was my first real taste at sports ownership
and that whole process, like that's at a different level.
I mean, designing a crest, like morals, like all of
these club guidelines, you know, being part of all these
different type of discussions and learning what it takes to
put together you know, an organization on a real way
at the ground level.
Speaker 9 (19:21):
Was that was that.
Speaker 12 (19:23):
Helped me a ton And maybe people don't know that,
but the BFCNWSL transaction was my first and you know
a good learning experience for me.
Speaker 11 (19:32):
AFC is really incredible too because you're also working with
other former soccer players in that organization, Bernie Chstein, Leslie Osbourne,
you know, daniel Slaton, all these incredible other people. So
how is that process working with other athletes? I mean
you're also working with other athletes here in the Bills too,
Vince Carter and there's tracing Grady, but particularly AFC AFC exactly.
Speaker 12 (19:52):
So Danielle Slayton, like you said, and then Leslie Osbourne
for me, have been probably the most interaction I've had
and my wife has had for example with Danielle and
then me with Leslie and her husband Ricky Lewis like
the work they're more so on the ground. You know,
they go to a ton of games, and you know,
the work that they've been doing to try to you know,
increase all you know aspects of the business has been
(20:15):
incredible and getting to work on that with them has
been a ton of fun. And you know, just being
an advocate for the women's game I think has been
something like being more outwardly about it, I think is
important as a men's player, as an American men's player.
So that part of the process has been really, you know,
real fun and it just feels good to be a
part of something like that. And then when you see
(20:35):
the growth right now of women's sports, right so there's
also a business aspect to it too.
Speaker 5 (20:40):
Yeah, absolutely right.
Speaker 11 (20:41):
It's not just about you doing it because you love
the game and to help the women's games. But I
mean BFC came in with a mission and it was
to make money and be a great franchise and overall,
you know, they succeeded.
Speaker 5 (20:55):
Decently in the first season. But yeah, they did good.
Speaker 9 (20:58):
They did good.
Speaker 5 (20:58):
Yeah, yeah, you did.
Speaker 12 (21:00):
We had to say that we were good, you know,
but yeah, we did good. We had a great year,
tough year. We let go of some great players, but
that's sports, that's the business, and hopefully we just continue
to grow in the next season.
Speaker 3 (21:10):
Yeah.
Speaker 5 (21:10):
Absolutely, so good.
Speaker 9 (21:11):
That's your team though, right in NWSL BFC.
Speaker 5 (21:14):
I am a Jersey girls.
Speaker 11 (21:16):
I can't go against my gossip, but I but I
love BFC. You know, it's it's really it's funny for
me in the NWSL. I just I just love soccer.
I love women's soccer. So sometimes when I visit these
teams and I see new uniforms and stuff like that,
BFC came hard with the.
Speaker 9 (21:31):
Cress, it came correct.
Speaker 5 (21:32):
What it was the Jackets that I was killing. They
were killing it. You sound like a BFC fan, Okay, well,
I mean so it was great to watch the first
season for sure.
Speaker 11 (21:44):
I was at the their first game against Angel City
in LA. That was really that was really awesome to
see and listen anytime around a ninety nine er, I'll
just fan girl out.
Speaker 9 (21:53):
Okay, I'm the same way. I mean, I'm the same way,
and that was cool.
Speaker 12 (21:57):
I went to that game and seeing all of them
there like that was one of the biggest to me
and remains one of the biggest moments in US soccer
history was that World Cup final and how it transcended
the game, and you know, looking fast forwarding now to
twenty twenty six, can we deliver a similar moment?
Speaker 2 (22:13):
Right?
Speaker 13 (22:14):
That?
Speaker 9 (22:14):
That to me is you know, people are like, what
what is success?
Speaker 12 (22:18):
It's producing a moment like that which will then you know,
help both the women's game and men's game. Like we
saw that final in ninety eight, what the women did.
So that's to me is what's gonna tell us?
Speaker 5 (22:30):
What do you think it takes ninety nine? Sorry, I
think it's yeah, ninety nine.
Speaker 11 (22:33):
Do you think it takes the men being there to
create that moment or does it not have to be that?
Speaker 9 (22:38):
No, not at all.
Speaker 12 (22:39):
I think the culmination of it all and the fact
that it was at the Rose Bowl, Right, So when
I look at you know, the twenty twenty six it
doesn't really matter that it's the men. It's just it's
an American team on a huge platform in the United States.
Can we provide a moment like the ninety nine ers did?
Speaker 9 (22:56):
Right?
Speaker 12 (22:56):
So, that to me is how I look at it,
like you look at I think the before that was
four right, we went on the group stage that doesn't
do anything really to I mean it did because it
was here.
Speaker 5 (23:06):
Do you remember that the nineteen ninety four Men's World Cup.
Speaker 12 (23:08):
Yeah, that was in the US, So that one was
where That's where I fell in love with everything. My
dad taped that World Cup on VHS, So that's how
I got introduced to soccer. I watched, you know, all
those old legends Hadji back in the days, you know,
obviously Maridona, you know on you know, the latter end.
But like, that's why I got introduced to the game
ninety four.
Speaker 11 (23:27):
So twenty twenty six, we're already talking about it. I mean,
we're not the Rose Bull here in New York, New Jersey,
but we will have that that. We will have the
final and it's gonna be incredible. What else do you
think needs to happen to create that big moment and
to sustain it for the success of the MLS and
the end of USL.
Speaker 12 (23:44):
Yeah, I mean a good performance would help, right. A
good performance I think is important because you're also able
to convince investors right to say, hey, this is something
you should be investing in. You know, look at what
we're able to how we're able to affect the masses,
and so you know, not to make it, not to
dumb it down so simply, but to me, that's that's
what it is, you know, And and success has different facets.
(24:06):
But obviously leaving in the group stage is not something
that's gonna be beneficial, right winning it is a perfect world.
But I think just playing well and again the team
being represented well and putting on a good show is
important so that investors see that this is a place
that they want to you know, deploy capital and then
be a part of.
Speaker 11 (24:24):
So super early predictions, what are the US men going
to do in the twenty twenty sixth world.
Speaker 9 (24:30):
They're gonna do exactly what we talked about.
Speaker 12 (24:32):
You know, they're gonna they're gonna have big moments that
are going to captivate the masses in this country and
hopefully trigger a ton of investment, both in youth development
and you know, I'm a big believer of tech in
in soccer and how it's transcending you know, our everyday lives,
but also the sports world. So I think in those
two elements is where we have to focus, and I
(24:53):
think that that will make us, you know, continue to
grow and push the the narrative of of us being
a soccer nation.
Speaker 11 (25:01):
Yeah, well, we're gonna check back in with you next year.
I really want, you know, a prediction of what round
they're going to get it to.
Speaker 5 (25:08):
You know, we all hope for the best here.
Speaker 11 (25:09):
Well, I wish you good luck in your in your
pursuit for a Super Bowl win. Great good luck to
the Bills and hopefully we'll see you up there the
cheering of the team.
Speaker 5 (25:20):
Josie, thanks so much for signing by.
Speaker 9 (25:21):
Thank you for having me.
Speaker 2 (25:22):
That's Bloomberg Original sports correspondent Vanessa Perdomo speaking with former
soccer pro Josie Altador. Up next, we talk n I
L with former college basketball star Jimmer for that with
my colleagues Damien sas Sour and Vanessa Perdomo. I'm Michael Barr.
You're listening to the Bloomberg Business of Sports from Bloomberger
Radio around the world.
Speaker 1 (25:56):
This is Bloomberg Business of Sports from Blue Blomberg Radio.
Speaker 2 (26:01):
Thanks for joining us on the Bloomberg Business of Sports,
where we explore the big money issues in the world
of sports. Michael Barr along with Damian Sasaur My goodness,
look who we have here. We have Michael Haddocks junior.
He's the former NCAA basketball player at SANNA who is
now the founder and CEO of Scout of financial solutions
platform for college athletes. And you know this one Scout
(26:26):
investor and former nc DOUBLEA Player of the Year, Jimmer
Forde jim Or Michael Welcome to the Bloomberg Business of Sports.
Speaker 7 (26:34):
Thanks for having us, Thanks for having us. Well, I'm gonnayeah.
Speaker 13 (26:37):
Absolutely, this is this.
Speaker 2 (26:38):
I like this, man, this is we're talking NIL. Now.
I have to bring up this point. I know there
have been some confusion about NIL now today. It wasn't
as easy when they first brought it out. Now it's like, okay,
you know this athlete can get a sponsorship from forward
and this and that whatever. Now it involves a lot
(27:00):
of money. Can you help sort this out for us?
Speaker 7 (27:04):
Yeah, I'll jump on that first. Yeah.
Speaker 3 (27:07):
So, so a few years ago, you know, the sort
of Supreme Court came in and said, you know, players
were allowed to capitalize up their name, image and likeness.
Speaker 7 (27:16):
Right.
Speaker 3 (27:16):
If you think about if you're a nineteen year old
student at you know BYU, you can do a podcast,
you can be on YouTube, you can you can make
money a lot of different ways. But players weren't allowed
to do that because they were amateurs. And they said, hell,
it's unconstitutional. You should be able to make money in
the same way everybody else does. And that was off
your name, image and likeness, and that sort of exploded, right,
players to do commercials. You know, they can do appearances,
(27:37):
you know, they can do partnerships. And now what's coming
down the pipeline is revenue share. So now players have said,
you know, it's great for me to go outside of
the school and go, you know, make a couple of
dollars from the local car dealership.
Speaker 7 (27:49):
But also they're selling my jerseys in the stores.
Speaker 3 (27:52):
You know, these media deals are getting really substantial and
ticket sales go through the roof, right, so, and that's
sort of capitalizing off my own name, image and likeness.
Speaker 7 (28:00):
And they said, yeah, you know, you're right.
Speaker 3 (28:01):
So now on top of that sort of outside it
and these getting paid players are also getting paid directly
from the schools. Starting in July, a pizez of that revenue,
so pizza of the schools are the piece of the
money schools.
Speaker 7 (28:11):
Are generating is going directly to the players.
Speaker 3 (28:13):
Think about it similar to the NBA, right, your paycheck
from the Los Angeles Lakers and then you can go
sign and deal with Nike.
Speaker 7 (28:19):
That is what's happening now in college sports.
Speaker 4 (28:21):
Jimmy, I remember your path to the NBA. I mean
it wasn't that long ago, right, I mean, you're just
up eighty seven for me, I live in Westchester. You
grew up in Glenn's Falls. I think your father, if
I'm not mistaken, was a financial advisor as well, so
you have some experience, right, and you know the management
of kind of money for for athletes. Talk to us
a little bit about your role here at.
Speaker 2 (28:38):
Scott Yeah, no, for sure.
Speaker 6 (28:41):
My dad was a financial advisor, so I was. I
grew up around understanding the meaning of a dollar and
that was something that was important to me and to
my family. So I had a little bit more experience maybe,
you know, going into the NBA than most guys do.
And that's when you're twenty one, twenty two years old,
(29:02):
usually getting into the NBA and you've been through college
and you know, you're starting to understand a little bit
more about money. But now it's you know, seventeen eighteen
year olds that are coming into college and now they
need to start learning about money, right, And you're not
thinking about that in college.
Speaker 7 (29:19):
Right.
Speaker 6 (29:19):
You may have just started getting your first paycheck in
high school, you know, working at the local McDonald's or
whatever it is, right, and you're just starting to try.
Speaker 13 (29:28):
To come in to understanding these things.
Speaker 6 (29:30):
So now when you get to college and all of
a sudden, school is offering you, whatever it is, a
couple million dollars as an eighteen year old, you're trying
to be all right, well.
Speaker 13 (29:39):
Do this is amazing?
Speaker 7 (29:40):
Right?
Speaker 6 (29:41):
I have all this money that I can use, but
what do I do with it? And I think that's
where why I, you know, jumped in and wanted to
be an investor in Scout because you know, they want
to empower student athletes to think like entrepreneurs, but also
want them to be you know, financially they want Scout
wants them to understand what they need to do financially.
There's taxes that come with these things. There's other you know,
(30:02):
things that come with making a lot of money. And
where are you going to put that money and how
are you going to use it? And how are you
going to use that to empower yourself as you move
forward and learn about saving and all these different things
that you're not thinking about as a high school student.
So you know, I jumped in on Scout and was
all in because of what they were trying to do.
And it's been it's been a great ride so far.
Speaker 9 (30:23):
Michael.
Speaker 4 (30:23):
Well, let me bring you back into this here, because
you know, I like to think of you as a
finance bro. You started your career, you know, Goldman Wizard, right.
Speaker 2 (30:30):
And now I like that finance you know what I mean.
Speaker 4 (30:32):
He's probably got a nice past time, you know, a
little golf log of the country club.
Speaker 3 (30:36):
Right.
Speaker 2 (30:37):
I'm just kidding, But.
Speaker 4 (30:37):
Michael, seriously, I mean, like, how did you wind up here?
Like what's the path that took you here? And you know,
to Jimmer's point, you know, I mean today's athlete are
they Are they more inclined to, you know, manage their
money and manage their affairs virtually or do they really
need that personal, that human interaction that you would have
kind of traditionally expected in years past.
Speaker 7 (30:56):
Yeah, it's a great question. I think.
Speaker 3 (30:57):
The first piece is it's funny me and Jim or
Mett used on his visit to see it when I
was playing there. He lived far off the road, you know,
each other for for a long time. But my journey,
you know, probably starts back to my dad. My dad
was a number eight pick in the NFL draft in
eighty three, and I lived through kind of the end
of the financial journey, right, what happens when it's over,
what happens when the money runs out, and how people
treat you.
Speaker 7 (31:16):
So I lived through that experience. It's funny.
Speaker 3 (31:19):
I became a quote unquote finance bro, went to Columbia
for business school, worked on Wall Street.
Speaker 7 (31:23):
But the whole time, I knew that I was a
little different.
Speaker 12 (31:26):
Right.
Speaker 3 (31:26):
My dad didn't grow up in the country club, right,
We didn't wear the vests around the house. I was
learning about this for the first time at like thirty
years old, and I was like, wait a minute, you know,
nineteen year old me would have really benefited from knowing
how to invest my money and how to save and
all these things that I think a lot of people
that worked on Wall Street with me had known for
so long. And I was like, man, this is we
got to bring this to the masses and bring it
(31:47):
to people that you know, been We've been around for
a long time.
Speaker 7 (31:49):
And I was just athletes. So I grew up in
the world of athletes.
Speaker 3 (31:51):
So I managed money for pro athletes for a while,
had a spinoff of bock to guy in the agency,
and then I just knew, you know, I wanted to
do something a little broader, right, you talk about that
hand to hand touch. And I started to do some
research and see a lot of the companies out there
if you've got to familiar with things like you know,
Robinhood to an extent, but money lying and so far
we've seen this movement of like these tech brit based
(32:14):
or financial platforms, and everybody's seeming really really comfortable even
to look at, like you know what PayPal and Venomow
have become, right, People getting really comfortable using tech to
manage their finances and find the tools that they need.
And I was like, you know, these young players that
are now making money in college are the most tech
savvy people on the planet. And the other thing that
I thought was really unique was in the world of
(32:35):
finance bros. How how do the athletes have someone that
they can lean on that is, you know, as smart
and quote unquote as a finance bro, but also speaks
their language and as a tool that speaks their language.
I was like, let's blend this stuff together and go
sort of change the opportunities of these young people.
Speaker 7 (32:49):
I think that the other.
Speaker 3 (32:50):
Piece that I think is really really important is, you know,
I always see this a lot, right, Like the numbers
at the pro level haven't gotten any bigger. So all
this money being spread out in college, they're still only
like one percent of players that it'll be pro. So this
money in college is and most of these players are
ever going to make a lot of them. So now
let's take this and create this springboard to help them
(33:10):
become you know, Jimmers has this VC fund, right, these
players are doing really cool things, or I started a
tech company. I'm no means on the same levels a
player as Jimmer. I'm just you know, I'm a former
college athlete. But but I just thought, you know, let's
help these players navigate the rest of their lives in
a way that's really aligned with who they are kind
of you know, their their mindsets, right, they become bread
(33:31):
winners overnight.
Speaker 7 (33:33):
So they're just in a really different place.
Speaker 3 (33:34):
So how do we build something for them and give
them a finance bro that you know looks and feels
like them with basketball shorts and if you see me right,
I got a hood to going, so basketball shorts on
in a hoodie.
Speaker 4 (33:43):
Michael Barr, can you believe this? We're talking to mister
Haddocks here as a father who has played running back
for the Phoodelphy Eagles in Green Bay By I mean,
this is unbelievable. So he's really well qualified, really been
in this for his whole life.
Speaker 2 (33:56):
I feel so old.
Speaker 4 (33:58):
I'm feeling old too.
Speaker 9 (33:59):
I mean I remember, Michael.
Speaker 2 (34:00):
I mean, I'm like, oh man, it's like you know,
I had the rabbit ears and I'm trying to anyway,
don't worry about I want to This one is for
Jimmer here. Unfortunately, you've heard some NIL stories and it
turned into nightmares because either you know, NCAA teams or
(34:21):
college teams they said, look, we're not going to play
because we haven't gotten paid. And a lot of that
has to do with the middleman. Can you explain more
about where this is going and how can we solve
that problem?
Speaker 13 (34:39):
It's a great question.
Speaker 6 (34:40):
I mean, it's something that obviously has not been solved yet.
And I think you know the first couple of years
of NIL, it's it's still super early in this and
I think they were, you know, originally thinking hey, the
players can make money off of their name aage of likeness,
great awesome opportunity. But now you know, collectives and all
of these things that go into college athletes now are
(35:03):
getting involved in getting athletes to come to the schools.
And when you have collectives involved, that's boosters, that's people
that have been in business before, entrepreneurs, people that are
high net worth individuals coming in and a lot of
times they're coming in and saying, hey, we're gonna, you know,
give money to a student athlete, but we're going to
have them sign a contract. And if that contract is
(35:27):
not like air tight, or they have some clause in
it or whatever it may be, and the student athlete
doesn't have representation with them that is really well versed
in looking at contracts or whatever it may be, that
that's where I.
Speaker 13 (35:41):
Think the issue is kind of falling into.
Speaker 6 (35:43):
At this point where they're signing, they're signing agreements and
either the school doesn't have the money or they do
have the money, and then they have some type of
loophole or it's like, well, you didn't do this and
we can get out of it because of this, and
we don't have to pay you and the athletes like
what's going on. I think that there's a lot of
that going on, and obviously I think that needs to change.
There needs to be some type of regulation, you know,
(36:07):
moving forward of a standard contract maybe that they may
have for student athletes that are signing an IL deals
or just signing deals to come to the.
Speaker 13 (36:15):
School, whatever that may be. And you know, I think
that's you know, one of.
Speaker 6 (36:20):
The things for me, why this is so important, is
is to try to help these student athletes understand, like
you need you need to find someone that's on your side,
you know, that understands what they're doing. So when you
get into these meetings, you are able to kind of
talk the language and understand what's going on. Because you're
now a professional athlete, Like you're not an amateur anymore.
Speaker 13 (36:39):
You're a professional athlete.
Speaker 6 (36:40):
You need to represent yourself like professional athlete and get
people around you that know what they're doing.
Speaker 13 (36:45):
And that's a very.
Speaker 6 (36:46):
Big shift, like I said, for a seventeen eighteen year
old kid that's coming into college.
Speaker 13 (36:51):
But it's the reality of the situation and it's what
needs to happen.
Speaker 4 (36:54):
Jimmy, I'd like to ask you I mean, you know,
today's athlete, you know, the management of money doesn't end
with the usport or if you follow me, right, these
athletes today, Yeah, they may not make the NBA, but
then they have stellar careers making money abroad, right internationally,
and you know, tell me a little bit about how
Scout can help that individual right.
Speaker 6 (37:10):
For me, like, you know, obviously, yeah, being able to
have a great career and play in the NBA and
then be able to go overseas and play you know,
six years overseas, twelve years combined.
Speaker 13 (37:20):
I mean, it was just an amazing experience.
Speaker 6 (37:21):
And you know, you know started and uh, you know,
the NBA obviously found a financial advisor and kind of
kept it through. But you know, if I were someone
at that time receiving an aisle money and I was
on Scout, that's something that I would have brought with
me to be able to help continue to help do
my taxes and and help me save money. And I
(37:41):
think the reason being is because when you get into
that college situation and then all of a sudden you're
you know, involved with Scout. You feel familiar with that platform,
you feel familiar with the people that are involved with it,
and you know, I feel like it's something that's a
little bit more sticky, especially for people who are going
to play overseas.
Speaker 2 (37:59):
Jim or Michael, we are very appreciative. Thank you so much, gentlemen.
Speaker 13 (38:03):
Thanks for having me. This was awesome. Thank you so much.
Speaker 2 (38:06):
That's Michael Haddix, junior founder and CEO of Scout and
former NCAA star and Scout investor Jimmer Fredett. That does
it for this week's edition of The Bloomberg Business of Sports.
For my colleague Damian Sasaur, I'm Michael Barr. Tune in
again next week for the latest on the stories moving
big money in the world of sports, and do not
(38:26):
forget to catch our podcast on all your podcast platforms.
You're listening to The Bloomberg Business of Sports from Bloomberger
Radio around the world.
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