Join hosts Michael Barr, Scarlet Fu and Damian Sassower for a look at some of the latest headlines and stories in the business of sports.
We break down the hockey finals with Keith Wachtel, the Chief Business/Revenue Officer of the NHL
Plus, we hear from Greg Norman and Phil Mickelson about the rise of LIV Golf. It’s from the latest edition of Bloomberg’s Latitudes with Haslinda Amin.
And we take you to the Bloomberg Invest Summit and bring you conversations with Red Sox Chairman Tom Werner, Milwaukee Brewers owner Mark Attanasio and Josh Harris, the owner of the Washington Commanders.
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Michael Barr, Scarlet Fu and Mike Lynch follow the money in the world of sports, taking listeners inside decisions that power the multibillion dollar industry. From media and technology to finance and real estate, leagues and teams across the globe have matured into far more than just back-page entertainment. The show explains the money behind the final score.
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Bloomberg Business of Sports
Bloomberg audio Studios podcasts radio news this is Bloomberg business of sports the business of sports can be intimidating or hard for a startup to break into we really appreciate what our owners are actually there you know with us through the Journey teams ours especially have been very intentional to diversify at all levels of the company I think we’re in the golden years for the NFL and college football our demographic reach has continued to expand this is going to be really unlocking the streaming platform for sports fans sports valuations are rising we’ll see when they Peak you don’t have to be the best in your sport to make a whole ton of money Bloomberg business of sports from Bloomberg Radio this is the Bloomberg business of sports show where we explore the big money issues in the World of Sports I’m Michael bar I’m Scarlet Foo Damen sassau has the we go coming up today we take you to the Bloomberg invest Summit and here from Executives from the Boston Red Sox Milwaukee Brewers and Washington commanders plus we’ve got highlights from the latest episode of Bloomberg latitudes with hinda Amin she speaks with Liv commissioner Greg Norman and one of Liv’s biggest stars Phil Mickelson that is straight ahead on the Bloomberg business of sports but first the NHL has crowned a new Champion 10 seconds left to what Panthers a dream thir years in the main is a reality the Florida Panthers have won the Stanley Cup Stanley is coming home you always will have a bra in South Florida oh my God the Panthers have won the Stanley Cup for the first time in history yeah wow so lowkey uh Jo joining us now is Keith wle he is the NHL’s Chief business and revenue officer Keith first you can’t you gotta love that call Welcome to the Bloomberg business of sports thank you very much that is one of the greatest Radio Calls I think I’ve ever heard in any sport it’s right up there with Al Michaels uh in 1980 oh I I Adore that one do you believe in miracles yes that’s that’s what my wife says about me when I go to work every day uh anyway well I’m going to start with the obvious question Keith this you know it this went to a game seven and it you know first when the Florida Panthers they went out to a three games to nothing lead and we’re thinking okay this is going to be a sweep and all of a sudden Edmonton said hold the phone there because we got something to say and then they reeled the next three back which I have to think that game seven was an exciting one to watch for people at home it’s the two greatest uh words in sports game seven and couldn’t be happier that it went there and and our our competitive balance usually creates the most playoff games in professional sports compared to some of the other uh leagues that have seven game series um we average really close to Six games um per series and we you had a total of 88 games this past playoff so it was a surprise to see the Panthers jump out um and a pleasant surprise to see the fight uh in Edmonton and to come back to 3-3 what a great story uh hasn’t happened uh in a sport in over 80 years and it couldn’t have set a better stage for uh game seven winner take all uh had the sports landscape all to ourselves uh the amount of media on a global basis and certainly in North America was unprecedented across you know kind of every distribution platform so what what could have been um you know certainly a disappointing final from the number of games standpoint turned into the absolute perfect storm uh what a great game it was uh and the numbers show it across every metric uh so it was truly an incredible uh postseason for the NHL it was and congratulations to the Florida Panthers and of course um also congratulations and and our regrets to the Edmonton Oilers Hockey Club which got very very close but uh wasn’t able to to capture the Ultimate Prize but Keith come on you got to admit that if the New York team went all the way to the end the number one media Market the whole um 30-year anniversary of the last time the New York Rangers won a Stanley Cup from a business point of view having a big Market media team uh win the Ultimate Prize would have been invaluable I think the audience now know Scarlet’s a big time Ranger fan um but it it it was masked in a good question here’s what I’ll tell you um clearly that’s what I do major markets um help Drive ratings but the question is and and what we think was so incredible about U this series was first off you had one um US market right on the smaller side and a Canadian Market um and we think that this is better for the future of the sport um we grew the audience and fans for life um in Florida uh certainly in South Florida um in addition we got to Showcase uh Conor McDavid and a bunch of other incredible superstars in our sport um that don’t often get that exposure yeah in the US U because as you know traditional and they they always want the biggest markets and you know you don’t see a lot of that what’s been great about our relationship with ESPN ABC and and Warner Brothers Discovery is they have showcased a significant amount of Canadian teams and our fans have seen Austin Matthews and they have seen Conor McDavid uh so that helped but when you look at it um 16.3 million viewers watched game seven of the Stanley Cup across North America uh second most watched of all time but what is an amazing stat is it is the number one rated sport between the NHL NBA and Major League Baseball finals since 2019 and that just shows you the potential so to your point if we’re doing 16.3 million viewers for Florida Edmonton you know there is upside significant upside uh when you do get major media markets but like I said when we look at our outdoor games when we look at our our Allstar games we look at all these 10 pole events and this Stanley Cup um you can argue that it’s better for the future of the sport to be growing fandom uh in these markets these you know so to speak you could say non-traditional hockey markets but listen Florida right now um you know you look at what the Tampa Bay Lightning had done and now the Florida Panthers y that’s a pretty good state for hockey I’ll tell you that much absolutely and I have a bunch of questions to follow up on that but I want to pick up on something you said when it comes to Superstars like Conor McDavid um we know that hockey has long struggled with marketing its best players uh even during their Prime as Superstars Conor McDavid Nathan McKinnon um as much as the NHL tries they aren’t household names like LeBron James or Steph Curry uh the Tik toks of players getting off the bus and Suits is definitely a thing but nothing like the attention that NBA players get why is it harder do you think for NHL players to break out as Superstars I don’t think it’s hard for them to break out as Superstars certainly amongst the fans of the sport like you just said you named two of the greatest but as househ names among Sports overall the reason is it’s the ultimate team sport it’s always been that way um the way that these players think about the team first and I’m not saying other sports Superstars don’t but it is very different it is the ultimate team sport and you have to remember the best player in the world in Conor McDavid usually plays somewhere between 18 and 20 minutes a third of a hockey game right the most minutes he ever played was game seven and it was somewhere in the mid to to um you know 26 27 28 minutes that’s not even half the game right when you look at the quarterback you look at the running back you look at as you said LeBron James um they’re playing the majority of the game the focus is on them and that is the biggest difference uh and it is the ultimate team sport you need all players on the ice to have success they also don’t want to put themselves ahead of the team um they’re starting to grow their social media profiles which is helpful a lot of them have great personalities that we’re showcasing through all of our content but you’re going to start to see more of that right you read about the release that we did uh on our box tobox show which will be um on Amazon Prime coming um this October that really lean into these personalities because they are they’re good-look guys they’re very personable their stories are amazing so we as a league are focusing on that trying to build the stars but in the end it is the Ultimate Team game and I think um you really that in how uh former regular guy players do after they retire Paul bizette uh with a spitting chicklets podcast Sean Avery Kevin bxa like all these guys who are known as regular guys and have that persona but they have really broken out uh once their hockey career ended uh because they’re no longer on a team the way they were when they were playing professionally yeah we have some great personalities um you know like I said current players former players and we need to continue to build that you’re absolutely right we we do lag behind in a lot of the personal social media profiles of these guys but the the new players that have come into the league um you know currently in their you know 20s and and the new crop when you look at these new players they’ve grown up with social media they’ve grown up with building a little bit of their own brand versus you know certainly um back when the players were playing in the in the 80s and the 90s but even Sydney Crosby Alex oetkin you know kind of that those you know Superstars now of the Old Guard if you will they didn’t grow up with that that wasn’t their that wasn’t a thing when they were coming into the league so I think you’re starting to see more of it I’ll take more time but showcases like game seven um when you start to see the the the interest um that we had I think you that’s how you help build stars and that’s why we have such great Media Partners uh you know including Rogers and Canada to help us tell those stories and get that content out there I’m going to file this next question under when one door closes another door opens and unfortunately the Arizona Coyotes uh they’re folding up Why didn’t it go very well in Arizona and uh Hey to the folks in Utah hats off yeah I can’t really get into you know why it it didn’t work I wouldn’t say it didn’t work in Arizona um you know clearly everyone knows um you know location of the building and the venue and the areas around it and everything that goes now that you see uh in the entertainment world is very important and that’s what they were trying to achieve I think there was great success in the desert um it showed that the market can work um but at this point they need to find um a building and we’ll see what the future holds Keith wle NHL’s Chief business and revenue officer we know him Scarlet we know him thank you Keith for joining us on the Bloomberg business of sports we appreciate it up next on the show we hear from Greg Norman and Phil mikkelson about the rise of live golf you’re listening to the Bloomberg business of sports Bloomberg Radio around the [Music] world you’re listening to Bloomberg business of sports from Bloomberg Radio this is the Bloomberg business of sports show we explore the big money issues in the World of Sports I’m Michael bar with Scarlet Fu and Damien sassau we’ve got a special treat for you this week later in the show we’ll head to the Bloomberg invest Summit held this week in lower Manhattan our buddy Jason Kelly was there and spoke with some bigname Executives from the Boston Red Sox Milwaukee Brewers and Washington commanders but before all that we take a trip to Asia on the latest edition of Bloomberg latitude with hinda Amin he has brought us into the world of live golf and speaks with the organization’s chairman and one one of its big stars here’s on a mission to shake up golf Greg Norman the pl player who’s built a multi-million dooll business Empire now he’s signing up big stars and attracting a new generation of fans Fast and Furious rival to traditional golf we are not just sport where Sports entertainment and culture but’s left tour isn’t without its critics bankrolled by the Saudis and blamed for driving division among players but nen says it’s here to stay and the path to securing Li’s future lies in Asia GRE nen one of the biggest names golf has developed a reputation as a great disruptor with a controversial live golf now the great white Shar as his known is ready to take a bite of the golf Market in Asia and Beyond he is one of gol’s most recognizable faces with 88 professional victories to his name and 30 top 10 finishes at MES but is known for more than just his swing with a tough reputation both on and off the course Norman is the driving force behind the upstart lift tour which has appended the game and C to Rift with gos establishment now 3 years on since becoming Liv’s CEO his bullish about its progress it’s very simple one word consistent uh we stay consistent we stay true to our model um there was a lot of headwinds in the beginning because the monopolis really control the game of golf on a on a global basis and and uh we came along with a a platform or a business model that could work side by side within the ecosystem nowhere along has L nowhere in my entire journey in the last three years since I’ve been CEO commissioner somebody come up to me and said what you’re doing is wrong and I think that’s a powerful enough Testament of saying that uh our product is our product and our product is received open armed by many but by a few who want to try and stop us for all the wrong reasons they haven’t been able to sustain their position in the game of golf what we have done brilliantly is injected more Capital into the game of golf golf has finally looked on as a as an asset class where do you go from here 54 top players you’re in more than a dozen cities what now oh look we are in our infancy and growth be honest with you um just for venues for example um we started out a couple years ago about doing nine and five um nine in the US five International and now that’s flipped so the international scene the global scene has opened their arms to us um in a significant way the USA is getting there um but the inter the globe has opened up their arms so ultimately what we’ll end up doing is taking the game to a global on a global basis Live Gold is different build around teams that compete against one another rather than the more traditional single player head-to-head matches seen in other tours it’s also faster 54 holes per tournament versus the 72 the PGA play we’ll have teams based in South America uh we’ll have teams based out of Mexico in Europe so all of a sudden you can see how our growth Corridor is all of a sudden starting to magnify magnify magnify because once people understand what the concept of live is all about this franchise model they get it because of all the other sports whether it’s soccer or whether it’s Cricket or whether it’s a rugby league uh even um in the United States with the NBA NFL right you follow your team um so the job of the league is to build that and keep building it and building that platform and so we’re at the you know the tip of the iceberg the key to securing that global expansion Norman says is what Liv can offer what we do is we walk in with 85 million do of that already supported by US 35 million in value in the players and 50 million in prize money and other stuff and production that we put on the event that’s us right so when you all of a sudden realize we’re a plug and play We Own the players we own the production we run the events all of a sudden now you can see from a expansion standpoint the the people are going oh my gosh I don’t have to outlay all that to get this I can just sponsor that and have the best players in the world on the best golf courses in the world in the best cities in the world it’s very easy to get that multiplying factor to move out come on Phil come on ph Phil melson was one of Liv Go’s first signings ditching the PJ and encouraging other top players to follow him what was it about live golf that made you decide this is the series to tour for me there were a number of things that went into the decision-making process but what Liv is is doing is it first of all gave a lot of uh players the opportunity to compete against the best every week so we have the strong field every single week um and it gave a lot of the top players to have a little bit of equity in what they’re doing but the real appeal is how it is targeting a younger demographic in the game of golf and it’s also taking advantage of areas throughout the world that have not seen professional golf at the highest level and bringing that to those areas you’ve talked about how Liv will go through A disruption phase and I think you put a number to it about 2 years what happens then what would you like to see what is likely to transpire well all of the factors that uh are taking place kind of quietly behind closed doors need to be ironed out and other people are working on that and that stuff is getting done but as that uh disruption phase takes place the strength strle hold on sponsors the strangle hold on manufacturers the strangle hold on players the the control that was had is being let go and so now that there’s talk of this potential merger so forth sponsors are are more interested it’s not as controversial players are starting to come over more they’re starting to see the benefits mikkelson has been one of the most vocal figures in the often bitter battle between Liv and the PGA over the future of golf right now though when it comes to the business of golf there a Great Divide uh in the Pro Golf World and conversations are ongoing about possibly a unification is that necessary to elevate the golf world I don’t know if it’s necessary I know that um a few years ago it was not an option to have elevated events it was not an option for players to have equity and it wasn’t an option for players to transcend social media markets and create YouTube channels and have their own social media uh posts the way Bryson has done and the way Bryson has brought Golf and this cool hip vibe to so many people on YouTube that wasn’t an option so until Liv happened none of that was going to happen and now now because of Liv those are all happening we have elevated events every week out here on live we have equity and we have the ability to use our social media platforms however we want to help promote the game and it’s starting to change now or it is changing on the PJ tour so this is all a really positive sign for all of us and so the competition that both tours are providing is elevating uh both both tours and so is it necessary that there’s a merger probably not but it would be a good thing if it wasn’t if there wasn’t any hostility if the end goal is unification where does it leave you because we know that you’ve expressed some harsh words towards PGA are you able to you think rebuild that relationship so I need to let that stuff go I need to let go of all the the experiences that I’ve had in the past that um uh that were less imp positive and I need to let let go of my hostilities and we all do uh for the betterment of the game updating Go’s image for a younger generation is as important as recruiting the game’s biggest stars and that means appealing to new fans and embracing technology a LIF war is more than just a round of golf organizers want to create an imass experience harnessing entertainment and Technology to draw in the fans and Inspire the next generation of C how do we reach down to the 18 to 35 year old Market how do we bring these kids these influences this this new generation of people interested in the game of golf there’s 738 million people in the world who are interested in the game of golf don’t play the game of golf but interested there’s about 60 million golfers so we have another 670 odd million people we can go figure out how to get them interested not just in live but in the game of golf and so we sit down and you talk about this internally with your production team you talk about with your marketing people I truly believe we are on the road to doing that already because when you look at our audience Base today that we have like about just around 50% of our ticket sales are 45 years and old and younger and following the PGA Tour it’s the oldest aging demographic in sport it’s 67 and a half so in a matter of year and a half basically we’ve pulled that 67 and2 down to 45 because of our product because of the entertainment side there’s there places around the world where 32% of our ticket sales are women so they’re coming to A A an event that they feel inclusive with right so all of a sudden we’re seeing these data points coming out going my gosh why haven’t we’re owning this space give us a sense of who you’re in talks with in terms of distribution in terms of streaming because there are opinions out there suggesting that perhaps people are not really tuning in and watching live how do you respond well what’s the definition of tuning in turning on the TV and turning on the channel 44 and say okay I’m going to watch the next 4 and a half hours that’s tuning in right but an 18-year-old to a 25y old tuning in maybe 12 seconds on the phone okay let me see this then I’m going to go back and do that oh then I’ll come back over here and do another 14 seconds on this boom you that to me is tuning in that’s to me is a market that’s enormously wealthy right and enormously U uh influential in the direction where you going that’s Liv golf’s Greg Norman and Phil mikkelson speaking with hos Linda Aman on the latest edition of Bloomberg latitude catch the show all weekend long on BL blomberg television you’re listening to the Bloomberg business of sports up next golf coverage continues we hear from some of the newest investors into the PGA I’m Michael bar with Scarlet Fu and Damen sassau and this is Bloomberg you’re listening to Bloomberg business of sports from Bloomberg Radio thanks for joining us on the Bloomberg business of sports show where we explore the big money issues in the world World Sports I’m Michael bar with Scarlett Fu and Damen sassau the Bloomberg invest Summit was held earlier this week in lower Manhattan featuring leaders in asset management banking private markets and sports our own Jason Kelly was at the two-day event and had a chance to catch up with some of the biggest names in the business first up Jason spoke with Red Sox chairman Tom Warner and mark atanasio the owner of the Milwaukee Brewers they’re part of the Strategic Sports Group which just invested $3 billion dollar into the PGA Tour here’s part of that conversation golf if you look at it if anyone follows the headlines not exactly it’s not not a mess um when it comes to a business is that part of the attraction well it starts with the macro and the brand and uh I was sitting uh I’m on a committee with John actually a couple of committees with John and Tom at Major League Baseball John Henry and they were talking about the opportunity here but I didn’t realize that what they were working on they just talked about some of the challenges that were being faced and and I said to John well to me given that brand the more challenges the more opportunity because right 33 years of investing at Crescent that’s what we found you know the easy Investments uh don’t really create a lot of opportunity that more difficult ones do so uh Tom and John called me a few days later later and said were you really serious and how you looked at that and would you invest in the PGA and 100% of course and I still didn’t know what they were working on and then they let me under the tent and uh it’s it’s extremely exciting and so Tom what was it for you I mean you you know your Fenway Sports Group obviously the Red Sox Liverpool Pittsburgh Penguins nessen the sports network and more what was it about golf that jumped out to you well as most of you know uh the structure of golf a couple of years ago was that uh it was a nonprofit and uh the players were independent contractors and so um this now is a league that uh the the the players are now owners they have equity in the league and uh this SSG and Fenway Sports Group are really uh investing in a the commercial growth of the game um and of course it all starts with you know what can create a better Fan Experience and you know we are grateful that we were selected because it was a very competitive situation to invest in the new structure but uh you know we think that and Mark is part of this group that the operational experience that we have in sports uh can benefit the players and be a resource and so so take us inside this proverbial 10 a little bit like what do you need to do like what what’s the low hang in Fruit here and and what are the things you’re you’re seeing that can be relatively easily fixed or changed to to improve those elements well one thing that Jay Monahan who uh we think is a very strong leader is doing is we are commencing a very uh extensive research study um that uh uh is called fan forward but uh Rob Manford did the same thing in I think 2019 where you did a survey about what was good about baseball how to make the experience better and you know a lot of of positive changes have come from that but but you know we’re going to be listening to our fans and you know just one one idea that uh we’ve been talking about is when you think about the experience of going to uh a an event on on the tour that we are trying to aventi it and make it really more mustsee and somebody at the PGA was looking at Louisville you know they have an event every year that is really just 2 minutes long in its actual composition of the Kentucky Derby but around it they have a week-long festival so one of the things that we’re talking about is how to create uh experiences at PGA Tour events that uh will make them more attractive and so Mark as you look at this you’re a global investor obviously one of the um elements that is clearly at play here is live what needs to happen well the uh if you look at at the golfers whether they’re at Liv or PGA these are some of the best athletes in the world and uh across all sports you want to see the best athletes competing against each other that’s why for example you have so much interest in the Olympics and uh so we you know we’ hope to be a bridge or a catalyst to try to bring uh the the the golfers back together so they could compete more than just a handful of times each year what’s your level of confidence at this moment that that’ll happen well look we’re all optimistic right we know so we know how difficult it is and what the the hurdles are including some regulatory ones yeah uh but it it really should happen and so I I think it will and so Tom when you think about you know one of the things that that’s very compelling about sort of the data underneath this um is this notion of sort of off course um you know many of us in this room for better worse go out and hack it around the you know N9 or 18 holes but increasingly more people especially younger people are experiencing golf in in different ways how do you through the PGA monetize I mean how do you take advantage of that movement toward the top golfs and and The Sims and whatnot well the first thing is to acknowledge that uh one one factoid I think it was up there is that more people people were uh playing offc course golf in 2023 than OnCourse so they’re both growing but offc course golf things like Top Golf is uh very attractive so um you know it it is all about the popularity of the game one of the great things about golf as opposed to the NFL for example which you know has its own great attributes is that people are playing it and and so when they’re watching watching golf they they are participants in the sport so you know whether they they you know play golf at their country club or they’re playing mini golf uh you know with their local local uh hangout it’s all good for the game and that’s you know five-year-olds can player Hall of Fame announcer Bob uker turned 90 he still plays golf right pretty well actually that’s Red Sox chairman Tom Warner and mark adino the owner of the Milwaukee Brewers speaking with Bloomberg’s Jason Kelly at the Bloomberg invest Summit next Jason sat down with Josh Harris the owner of many sports franchises including the Philadelphia 76ers and the Washington commanders here’s a part of their conversation did you ever expect that you’d be sitting here today with the sports Empire that you have not my wildest dreams not my wildest dreams I mean the notion that I would own the Philadelphia 76ers where uh I had gone to college the uh New Jersey Devils where my dad had grown up um and then obviously uh a whole lot of other Crystal Palace in London where I’d lived um and then uh obviously the Washington Commander where I spent my uh I was uh 1 to 18 in Washington I was 0er to one in Philly and then I went back to Penn so the notion I would own and really manage the two uh sports franchises that I had grown up really passionate about uh was incredible it’s an incredible dream come true and so what did you see other than I I believe you had been at Penn when the Sixers won a championship is that right hey like what did you see that was from from your investor perspective that was compelling about sports then yeah so a personal Journey was obviously I grew up with the uh U Washington commanders the then Washington commanders but John Riggins Joe Gibbs you know three Super Bowls and 1982 the commanders won the Super Bowl uh the then Redskins we everyone came out the streets and DC was a very divided city um and uh I I witnessed all that and then uh went up to Penn and saw the Philadelphia 76ers win the NBA championship and Philly was also a city that was kind of having trouble so I witnessed everyone come out two ticker uh tape parades in one year uh when I was 17 to 18 years old and really dawned on me that Sports really unified uh communities you know then and then started Apollo and then obviously um got to the opportunity uh to achieve financial success uh the financial crisis happened and the Sixers uh we had heard the Sixers might be uh not in Comcast long-term future and uh we just call I literally just called them and went back to my day job of uh doing what’s called a corporate carveout and I was zigging when other people were zagging uh it was just after the financial crisis the NBA was in lockout right the Sixers were losing $40 or $50 million a year and I paid $280 million for the Sixers I put together a group I called David Blitzer my friend uh and a friendly competitor from Blackstone and we had you know known each other gone to pen and we put together a group to buy the Sixers I was quite nervous about turning it around but we took them from um 27th in uh the league in Revenue to 5ifth you know and so that’s now a profitable entity and so the idea there was more of a passionate thing where I wanted to um really lift the city uh connect with the city bring the Sixers back um obviously in um in uh business which we’re all used to iida stock price valuation cash flow in sports it’s about uh winning championships and creating memories right so that’s why I originally got into sports and obviously the journey um had started as more of a value oriented Journey very similar to what I do at 26 North the evolution is quite different uh as we go into the you know the the day is today uh we can talk about it but obviously I just paid at the time I had paid I paid uh six billion for the commanders and that’s 60 times I and uh my credentials as a value investor were shattered I joke uh but the the sports has changed a lot in that Journey yeah we could talk about that if you’d like yeah so I I I think you you led me exactly where where I wanted to go which was that $6 billion do figure you’re right doesn’t look like a value would when when you pencil it out and yet if you read the headlines today or you know in the past month or so on Bloomberg and and elsewhere Jeffrey lurry your NFC East rival and and uh neighboring franchise with the Philadelphia Eagles selling a stake reportedly at a valuation of 77.5 billion doar uh that I I’m not that good at math but that’s 25% more than uh than the valuation you paid $10 billion is the number that Stephen Ross is talking about again reportedly for the Dolphins and and Associated properties that’s a huge jump what is driving these valuations and how much higher can they go right so if you look at the evolution of sports content right particularly the big Sports uh the NFL and the NBA leading the way um there’s a massive globalization of content because of the ability of people to stream content and watch it on their phone so in many cases there are more people watching the Sixers in China than there are in Philly and that that’s the case all over the world that’s Josh Harris the owner of the Philadelphia 76ers and the Washington commanders that does it for this episode of the Bloomberg business of sports show we are here each and every week at the same time for my colleagues Scarlet Fu and Damen sassau I’m Michael bar tune in again next week for the latest on the stories moving big old money in the World of Sports you’re listening to Bloomberg business of sports Bloomberg Radio around the world [Music]
