Garcia & Bailey H2: Forbes Senior Editor Kurt Badenhausen Weighs In On The Panthers Sale

WFNZ Podcasts
Tuesday, May 22nd
Forbes Senior Editor Kurt Badenhausen stopped by Garcia & Bailey to discuss an article he recently published on the sale of the Panthers. 

Transcript - Not for consumer use. Robot overlords only. Will not be accurate.

But Garcia. Kyle frank Osborne avenue and about fifteen minutes from now if you missed it a little low little under our Joseph David supper. After being voted on approved by his now fellow NFL owners to be renewal of the Carolina Panthers who spoke to the media for about seven admitted somewhere in there and we have the audio we will play it and the next segment if you missed it if he can't Peter 315 fret not in play to get to 5 o'clock for those. A who can't either fifteen minutes to 70457. Or 9610 and houses writes 515. Is inflated is at 315 and 515 if we play that audio puts us you know frank what's interesting too familiar about this is that you don't will Kennedy came on with crohn's earlier and so they've basically the NFL wants to get temper. Approved if it's done to get him out there and move this franchise for Jerry Richardson is in attendance in Atlanta today. And for these league meetings to I just gotta say goodbye to what to do to his fellow owners and pass the torch to a degree and so that they wanna get temper out there. In front of people moving this franchise forward on to the next thing to. And that seems to be kind of in his personality to just kind of it was keep business moving let's keep things flowing and it's going to be interesting to see what his First Act of business will be as the owner of this team but it seems like he has full confidence in the football operations such. At least publicly anyway. Yeah I mean and you know that's yeah that's good to be the interest in part moving forward you know with tapper. Onion and see how we invest what do you invest in I think that he addressed that and the conversation of winning. Are we know multiple different ways with that looks like not just on the football field already don't like to lose in dumb. Don't give him that returned you know if you're gonna use public on the money forward. You know for the city you know what that looks like I don't know music more concerts is a bigger park. Is it you know venues or even being big events in from out of town into the stadium to use it. I don't know I don't know what that looks like come on I know that that hasn't been something that has been done very often because. You know the last time they tried that it you know literally ruined the football field at Bank of America so I I'm not sure if that's why. You know Danny Morrissey and is no longer here I don't know. You may be you know they need to start with finding a president you know do you build those relationships with the community. I'm you know maybe it's involving. You know some of the local partners. You but there's a lot of different avenues I would guess from you know that you could use art to feel like you're giving the city something with the weather is lowering ticket costs or not. Raising them does the same thing right I mean not necessarily as alarm if you're right Islam. That's kind of you'll give something back because everybody else raises. That's an interest in port but you know I and I think that's possible with the home there currently in but as you will though if any sort of new build new building new homes on the road to knock and have that luxury in all likelihood but you know something else that you know I think. It's a well not to keep an eye on to something else some curious to see over the next couple of days where it was OTA seven by the way which we're gonna talk about the second is. Don't how publicly. David tepper presents himself August. Regularly that was awarded way of saying you know how often see in front of his fan base and an even if it's just you know Carolyn at the state run media Caroline papers dot com stuff where he's on camera talk into the fan base this is what we're doing this is what to expect that we know how much people want need or care about that sort of thing I think it differs from person to person. I'm but I am going to be interest to not told you this before in that's. I didn't grow up. A Carolina Panthers stand right but I am now and that's not a fleeting thing that I don't say that just you know joking earlier desist charted Cory treated with people that are listening. But I do see it through a little bit different us you know because I didn't have to childhood attachment that some people haven't even when you grow to become an adult you still hold onto some of that so law wanna see this team do well when James won a Super Bowl always be good part of that is because. Selflessly and I'll be honest about it's good for business to went Caroline traders are good relevant. And it's good for us it's good for business and so that's that's what I wanna see. But I want to see David supper. I want to see you make it a meaningful impact on the city and that's that's not to say to Jerry didn't and I don't want habits were arguing because Jerry obviously added a lot of positive impacts on the city when he was here but David tepper I think it's going to be asked and I told you this yesterday David tepper is going to be asked to do a lot of things for the NFL. Moving forward negotiations in digital we digital companies television companies and I think he's going to be front facing for the league a lot of instances in a lot of ways and I think that's going to be so good for this organization and its fans. That's where you can do is win games by that. You know college proven. That he studies all the time. No more population. Better enrollment. Happier. You better grades. When the when they take think the polls in the census on in schools and universities when their football team is winning verses. They're not very good dude just look at upstate for example I mean obviously the money helps amino moving to our division wanna help us. I mean in the morning back to back to back national championships actually improves enrollment that gives you better grades people wanna go there you can have a better student environment. Would you make the same argument for a city as I would. You know if you're winning games and you look at the city because I seen this city. I've been I've lived in the city for Tony three years 24 years and I know what the city looks like. And I know how the fan base reacts and I see how happy people get when you don't win when you when you're winning and go back to 2015. Never seen the city's electorate. Now with the you know the the marches in the parades in the celebrations and you know the events that took place no institute playoff games we're here. And go back to 1996 when the chances first came in played here at home and Ericsson stadium at the time every member you know what that felt like in 2003. When this team was making a run for the Super Bowl I know what this city look like so I would have. Absolutely argue. The if you want to make an impact on the city. Just when football came to central politics now it's easier said than done because everybody has that is that in in their mind. Not my question would be how are you do that differently because every owner. Every team every coach every player. Feels like each and every year that this is going to be the year. This is going to be the year that we don't take the top off that we finish of the race week climbed to the top of the mountain and it's. 31 teams. Are disappointed. Every year 31 teams are disappointed that they didn't win the Super Bowl. So. You know is that going to be what it takes I mean you can go to New England right now and you'll probably see that area we're Gillette Stadium is now. And see the difference and what the stadium has brought to that area. Right you go to. Green Day. And CB where that used to be like where Archie Bunker lived and Karachi. You know where they grew up. And a little small bitty house is around there how much their value has gone up with a new stadium and the winning traditions of the Packers in what they've met for Green Bay. You can go to any city and see that. You know winning is infectious. And helps support people want to spend and you're going to go Trout hole and held in people new people coming into watch. The hotels the restaurants all the industries are gonna benefit from winning games. Will we when you win at what and when you win. Everybody's excited you know but but it's it's can you sustain it right because that's been bit the issue and history this franchise and everybody knows it well never had back to back winning seasons and yes we we have a a texture to all the time battles they would yet they did they went to the wells to dispel the Democrat winning back to back winning seasons in the regular season is so I think that's. As I was and it's where you start because it's a pretty low bar to try to clear an organization like this room with a franchise quarterback like Cam Newton should always expect to string together winning seasons. Annoyed at the very least what I am curious about what David tepper getting back to kind of the personal side. Is. Again that's just how front facing you'll be and how. Publicly he'll speak out about certain things but. This is a guy who you know minute here's what the quotes from David tepper talking about how he's a person that believes in equality for everybody and you know saying some of the things that that aren't necessarily jabs at G or the way things ended but you know don't line up with that and so you've got a guy coming Andrew let's let's say what it is you know he called on Donald Trump say a demented narcissistic scumbag N able during the campaign last year and that's not to point out anything political that I wanna get into a debate about it is that nobody owns the Carolina Panthers and look David tepper new. David tepper new. Months ago. Even before this thing became a sing -- a big national story I would imagine he knew there was a good chance he was known NFL franchise in the very near future so David separate from mining is teasing Jews he's been on his best behavior for several months when you're a minority owner of the Pittsburgh Steelers you don't. Mess with the Rooney family you don't stand out don't embarrass that's failing that organizations and tempers got his best behavior nobody runs this team. And now that he's going to be counted on by the other NFL owners and with the kind of brash new studies always carried himself with the brass balls the breast implants the revenge mansion all those sorts of things. How how allow older and brash is this guy going to be hell out in the open is a go to beef or does he muted somewhat tempered down a little bit what that's that's what I'm kind of fascinated by is this going to be a version of a Mark Cuban and Jerry Jones what do you think about the. That's good question. You know I mean but. I don't think highs just say what people want to hear in the all the sudden come out there start going rogue. You know they don't they don't put their families first in. You know do a lot of those things and all of a sudden just come in there and and you know become loose cannons and just you know fly off the handle say whatever the hell they feel like Sam. You know I mean that's an eight and that's something that you know raising new that you won't need that attention that you're looking for. Yeah that reaction. To those type of things I think there's other guys that. Are just charismatic. And they're infectious. And what they say people wanted you know people want to do they wanna listen in what they do people wanna follow. He comes across to me is more of a guy that if I was claims her team. In what he has said just as little press conference and how he's approached things. Fires me up. Owner know this guy. It is driest. I mean. It's seven year old with no I mean that the grammys a better analogy. Yeah FF FF FF you know I'll stop there African. Right now I don't we are going to step aside in its second week on the back if you miss the digits emperor. Into Atlanta on our show speaking to the media we got about seven minutes worth of audio or David tepper emerged from that room for that vote as the new owner of the Carolina Panthers and he spoke about what to expect about Charlotte about the stadium about winning about at all you'll hear that audio when we come back it's Garcia Billick. All right Garcia and rarely hear on this Tuesday David sufferers do in that voted on an approved by the other NFL owners he is now the man in charge. Overall mystery the new owner of the Carolina Panthers voted on approved its a done deal another check test to clear but. I don't think there's any problem with that so we got so occurred back and thousand coming up at 334. Sports business we'll talk about David supper with him. A few other things as well Tom Sorensen stops by 430 and air expand our Charlotte business journal cops and it's five you report live from the owners' meetings down in Atlanta which is where David tepper was about an hour ago after the vote speaking to the media and here's an audio for those of you mr. David separate talking about the vote and being the new owner Carolyn. Printers short while ago. The first subject was the sale over Carolina Panthers. If it's ever met is the finance committee this morning got a unanimous approval from the finance committee. We've presented them to the membership nearly unanimous approval from their ownership so. I would like to congratulate David and welcome to the F so we're thrilled to have David so they. Come. Listen I'm thrilled about this. It's. More than fantastic I guess and listen I'm willing to answer any questions you all have. Well you know been with the Steelers for nine years so I've been hanging around this. This lethal over the time. And when this opportunity came up. Pop. This and I think it's a fantastic place with a great football tradition. I think is a great football area it was good people. Play I said before some points. These people down here in Miami if I don't people people make fun of me for saying it but to just good people so I don't know how to say that anywhere that I called like Pittsburgh people. So is very comfortable down there and I think jump from need. You know we do a lot of charity around the country. So it's a fantastic platform. To expand on charity to end and those were things so. Can send. Well I can't change much before actually by the team. So problem. And I don't know exactly what's there. Cause I haven't been there. So for me to exactly speak about exactly what it was gonna do this is almost impossible. But I'll say this and this has nothing to do with whatever is there cause I don't know. But for me. You know just a couple things. Palm noise I've had a business for 25 years. You know I kinda. Believe it is just me now this has nothing to do with the Panthers. I'm a person the believes didn't. Don't quality for. You know everybody including men and women. And I think first is me talking about what happened anything good bad indifferent to pass. The pass in the past to future will be debt. Thank you. Wearing metal hi hi I saw on TV. As to what's your what's your name again Ian Rapoport QQ color that appears that a real haircut Israel. Already has something for myself affairs sub. Sorry about that now let's get your ears hair lack thereof looks absolutely nuts after little signing up scares them. About the about the Panthers are are you is your plan to keep the Panthers in Charlotte and if so what are your plans for the. Stadium. What's what's the name of the team. Carolina Panthers Carolina Panthers. Who lead Carolina Panthers. And listen I you know there is a logical place for this team in the Charlotte. And it is Carolina Panthers. And Emmys his team pass as some sort of presence in the Carolinas. Last semi solved. How many are there. That's right this to them. So I'm listen Charlotte is a logical place for stadium. The stores in new stadium again. You're asking me too much tonight and I cannot. The only thing I have a market on right now it's lack of knowledge so called stupidity so I got that out. So I'll learn a lot more in the future. I'm a person who doesn't like to. I like to know what I know wanna know what they don't know so don't wanna say too much what they don't know. There. Hey David right here your attention the surely sir you have courtesy of substrate. Yes and I can't do that it. That's unfortunate. Very unfortunate. So I understand he met with the minority partners. With the Panthers maybe yesterday. Are you going to have any minority partners one and two. What's your plan for the football side of the building indeed any sort of a valuations area where you from sorry Pennsylvania. Where in Pennsylvania William sport I know you'll square. I'm from Pennsylvania it and that's what matters to. Com. So. Your question was again. Whether are you going to be the sole owner you're gonna have any limited partners and then also. Ron Rivera Marty Ernie Cam Newton football stuff. Come again we're not going to be there for a till July. To do anything but. Pause so the second question was put off till then because I don't think anything's appropriate but I do think there's. There's a great team down there right now and I think my biggest thing I can do. As soon as it can have them when they answered the same way answer the last question I've agreed appreciation of how stupid I am. And sometimes it's better to do nothing to do something. So I think you wanna be very careful and very carefully when you do anything and I sort of to one that side of the and that's out of the business. As far as the other side was. Minority partner minority partners who hate to answer some questions and I don't really get to answer that question I'm I'm trying to figure out the structure right now. Obviously there's. Some of Ennis is having some local partners. Depending on the I'm trying to determine the development I wanna have in the community. And so that's more development here is the community and might make it more difficult to have minority partners. You know if you wanna do princess and and west team or something like that which might make some sense if you or attractive Charlotte. Or you do other things so I'm just trying to determine that didn't come the next six weeks. If I'm moving someplace. And we're doing this in Carolina. The first thing I care about is winning the second thing I care about is winning and the third thing I care about is. You guys are smart's. So that's on and off to field. That includes a charity aspect community aspect and how you make your community better. So you can win a lot of ways. And I don't like to loosen anyway. So thank you. You're there before the break David suffer speaking in front of a million down in Atlanta the only meetings the owners voted unanimously to make. David set for the new owner of the Carolina Panthers in just a little while ago over Forbes dot com an article went up. Entitled how the small North Carolina Panthers sold for a record 2.3 billion dollars net articles written by one. A curtain on Nelson who joins us on the technique John just slide it up again sports business Josh reforms and we appreciate him up and on toward Howard McDyess whose top. I'm doing I don't. Dole well so so way I'll ask your question and I you can answer your own headline how did the other quote unquote small market Carolina Panthers just sell for a record 2.3 billion dollars. Well our response is out. Well at at eight topped one can't help in the went up for spelled gonna that a new record. Economic the F double right now. There is that. Is it really matter these things just don't come up herself very often on the last game so look the Buffalo Bill. Back in 2014 literally it's valuable franchise in the NFL but also one point four billion dollars. The Vietnam the F ballots so good despite all our credit we here ratings they're down. And question problem. I internationally happened protest. It every other sport big kill have a problem that the NFL at a threat out. Team that I not averaged generate more than a hundred million dollar in operating profit. Ed hit it big guarantee money maker because of the way to cap where. Because that massive national BBDO. It's it's it's a good bit that then look at where you can get a check yet I actually about as well. When markets is tempered a second but you'd use and you fired off a tweet about 33 minutes ago it's fascinating to me because. This is what you tweet of the folks that don't know and byways agreed follow at K by Nelson on Twitter but so the Carolina Panthers were the NFL's third most valuable team. In forbes' first NFL franchise valuations back in 1998 the third most valuable franchise in the league in 1998 and the traders value was. Increased sixfold and all right 21 after the stadium building goes if so how how prepared to go from the third most valuable team in the NFL in 1998 to 221 most valuable and I guess and today in today's age. You know look at this early ahead of their time when they came in that we bill believes in Alfred Ericsson stadium by Bank of America. I've renamed it you know what they're really ahead of their time in terms of how they built fits well with everybody you know feeling. Eight included environments that by eating 73000. Feet something out and people. Really be at a time in terms of generating revenue from popular chip premium seating. And they really set the model. Or what followed over the next twenty years where everybody built into it at the time. It will happen owner operated their outside of state Jerry your own. Look at a bill owner operator stadium in kind of the very sleepy wave mark really maximizing revenue. The panther game and if you don't screw that up of the yet bill got a new stadium. With that law what they're expected branch out. And really were among the app co op teams in terms of revenue all they act up he'd get big huge TV deal. But and what that battle as the pecking order is really the money to generate amnesty. So one point you know despite Charlotte beating. You know the kind of happy and expelled from the market that I. They're revenue with near the top only to avoid the bad and were valued higher. When sports person that's an idea probably albeit big with every. Almost every single team has gotten new building then and or undergone massive renovation negate the state that there are there. The actor achieve the mother in. And that's why we've been. In terms that the that epic move down the rank in terms of and it felt I'd just as I. About eight point six people. You know Kurt we talked to two different billionaires in on this station and one of them said leave the stadium right where it's at the other ones and move it. If you're paying 2.2 billion and you're trying to win whatever that looks like. What makes it more. Financial what makes more financial sense for an owners that build a new stadium moving the stadium or just leaving the stadium and renovated. Well pity in all it talked about it economic Hulu could not put the bill. The stadium it's very important. What the NFL going huge charge you to move are you getting yet. A cheaper rate like the creator Scott overeat the people break. Like the rams are going. Their movies and movie content Lewis a lot and don't. And then we're gonna do. You know that that they'll open build a mop and Dolan obviously. It did it yet though it create additional they're not gonna put in a dollar the building anti stadium. So I you know they're not going to think Lou so where you go in. There are the obvious candidate anymore. That that you don't city expert. I've used Burton deputy. Oh hole in Los Angeles that read a movie due out there and they'll put though it there that no lump or rep. Bill I think yeah that'll definitely want to keep the team in Carolina. And they. Yet only shown that they really are not going to a true. I keep transferring. How much they've really. Doctor rather opt in the terms of cutting and you go. So I interpret the economic. I have been new building getting very very bad. We compete like Kansas City and greens get a do significant renovation. They've been able to generate. There's actually more revenue of thirteen. Though economically. You know that that they are viable option. And got like David pepper can certainly afford it worked eleven billion dollars but what. He talked you know about the thing guaranteed money that you're gonna make and I agree you look at the model that the NFL uses in order to. You know maximize the amount of money because there is a capsule is ceiling to the captain there's a cap floor you know we're going to be right but they're gets to be a point where there is a diminishing return and that 2.2 billion dollars right starts becoming risk vs reward at what point does this cap out there we say stadium just can't let our teams just can't sell any higher because it's a diminishing returns for even these billionaires. Yeah a year period bigger points and we we we thought about all the and critically you know that are. I'm a lot of guys but if more people that sported in the 2.2 billion a day. Al tablet go up for you know what I put four point oh it at that we really big. Check that you have to write. Because the way they have overlooked a work in terms that you have a limited number of partners if they're at 30% equity open. On our controlling owner and so is that you do reach a point where it's you don't have corporate ownership. And individual stepped on the and it it you you do limit the number of people there have been able. Could buy them. And unlike the NBA. Which is they're very hot global property and what it looked into the step up and you really billionaires of around the world that would be adjusted net. They're not that famous trip when it comes to the NFL. So it of the from that standpoint it you're not limited entirely US market but you're much more likely to by the US billionaires and a bit on that. So it does speak I am strictly I don't think we're gonna see the value of that and there's increased six spoke. Over the next twenty years but David pepper to bury my diet and admitted. A lot of money and that's been in what he what undervalued. App that. Is so but our but it I think it's. The stock market have been going. An opt in opt the stock market no ways and it continued to any canary in the brought it about that and it yeah oh and it here. Indicate the pepper like the Obama it would equip Britain it is that played the part. You know it dispute almost 10% of fortune pepper it would in a park in 20% here or in a net app that it's gonna generate data. A hundred million dollar in property chair. That that that 5% dividend on top of that he gets more than a hundred million dollar tax break. Every year because of the way can be purchased quick allocation work where he can ride off about two billion dollar of the purchase. This so what I like temper grew at a lot of big com it is tremendous tax break and he can do that in the next fifteen year. That turn around and ballot so so he he's going to be a lot of I'd be just fine and that's. While talking to Kurt bad Nelson's Forbes dot John senior editor Forbes Forbes dot com Forbes magazine joined us on the second job just like before let's ago armed. Gambling the Supreme Court struck down the other federal ban on sports gambling trade in the way for states to look to electoral legislation and we're gonna a lot of states doing that some already are some had legislation in the tank ready to go. And a guy like Mark Cuban for instance has made him the values of these professional sports franchises just double outlet that seems a little bit extreme to me and it's very easy before we actually see what happens with this to say oh god people are going to be you know just a sprinting to stadiums and sports books and it's gonna draw more interest in more revenue disagree with what I got to wait and see what happens here but look I do think that the the values will go up I do think it's possible that David tepper signed on the dotted line just before Supreme Court ruling came down there probably saved himself a little bit of money but in your experience and the best of your knowledge into the most educated guess that you have how much more valuable to these franchises just yet. Yeah I could I. Mark Cuban yeah I'll never will occur but currently they. I I think probably. Well it's a bit much. But happily they get up opera back I mean that open up open up a lot of revenue opportunity art that they really haven't written about it it will not cut out. Or how much is gonna go about it he's a much in a very. We believe how much the take a cutter this state gonna take our but it turns that. Bringing in new revenue bump I'm Bob bishop you know if they credit their plea deal at the end date portion of their integrity the other that would be deal. Our book but they're you know and yet so they're really struggling with keeping do you work entrapped. And getting people to show up. Act stadium because Fiat own experience is so good with the year that beat I think it's TB in the great about them right there. Getting people to go to the campaign beat by a dollar. Apart even twelve dollars that are appear 120 dollar particular. They'll. Put it if you could create a situation at this stadium. Oh where where it really there is big gambling opportunity. That is attractive and so that helps you with your price seek out or turned the ticket and sponsors and sweets so. Fully I think it increases the eye of every angle and try to. Oh but whether we whether it up 5%. Our 20% of I think is still to be seen. A 100%. I don't know but etiquette you buy it but I think with the rich and. Controls the the the banks who controls the the gamble who controls those windows. Is it the state is that the government is it the owners. Well that I mean at the gap that'll put into congress to step in and really regulate. So you don't get the aide called it now I hope group. My guess is that the kind of funnel relief I mean I can't imagine that they've they've got an operation where he got 32 NF LP. We we got it operating non their own. Doing whatever they wanted you at least the start I would think that the NFL would we keep a tight grip. On how they you know operate but and you hope. You've got owner in here there are gonna put the wind it'll Jerry Jones broke away broke out of the and I felt. Like this program itself Merc and I thought it thought I'd Jerry don't push. Stadium partnership even though they inflicted with the league like opposites so people put but I didn't just start with. We're gonna to be the leaks keep a tight control over what goes on what their. Stated by a by the US government and I kept bumping and that I am an it is they gambling company. You know there's there's a lot of existing companies. They're gonna try to battle cry that and then every state in a lot. You know made by the state of Internet. It generate tax revenue. And so they're gonna want their cut as well. Isn't there a conflict of interest you know it's an integrity problem you don't beat for example who sets the lines. I think you know if you're if you're sitting there looking at these lines and your own by the NFL I mean. To me that's a huge conflict of interest I'm not put any money on that. I mean that the data out the crap out Pollack the other poll think is. If comical. I mean the fact that they have been the strongest terms of the Major League. The strongest one speaking out against gambling in the sport out and corrupt the port. I think the gambling may NFL's all route and it is what example it may yet so well I've made recently at. You know what every 30% of their audience for a very big game. That that terrible match up is not what people are treated. Gambling and fantasy sport. It is a big engine that gap though already. And in the NFL you know they're they're gonna look at me yet though the FDA. Had a terrific prospect outside the United States. Yeah I hope. You know he's obviously not the prospect that by the US aren't that good that would certainly need to really maximize. Every revenue opportunities that they can because he's got the could act out their baby and yet in terms of predicting revenue. And he used to be seen like the patriot. And the cowboy what they're really doing is building me. You indicate the patriot patriot plate so that utilized in the stadium which only hope. Ten games a year clearly to creep in and game. But it wouldn't want to create a requirement where they're attracting fans. And aunt had in retail operation than restaurant and hotel. People come to stay there and the stadium is the centerpiece. And even at 365 days a year. And why owner brought back to that though revenues that outside. The team and Billick doesn't stop their debt under the salary cap. Our occurred than a thousand Forbes Forbes dot John Forbes magazine senior editor joining us on the ticket John just like we appreciate your time a great insight great information more sorties soon aren't. I think Serbia got. Vacuumed once again join us on the tiger come just on that. In interest and stuff there was a moment of Kazaa that's an angle but I don't know that we talked about as much as it pertains to the Supreme Court decision in the gambling in order backed its effort to second -- -- said about the NFL's prospects outside of the United States frank as opposed to the NBA Major League Baseball soccer in the sports that are are you know that have grown globally or exists globally in a way to maybe football still does not and so you know the initial site had a young people in China to absolutely devoured the NBA you got people in Latin America and you know in Central America and even as South America loves baseball and when it comes to soccer obviously as the world's game but the NFL's not really grab the strong foothold yet and NS in particular part of the country and and made it stick. So they're saying look at me globally people are going to be gambling on the NBA Major League Baseball professional soccer armed movement you know are they going to be. Gambling globally. On the NFL some well but but to the degree does have a sports right now not yet disappointing is make it a second donated all the future. And I think that's an interesting take on that because you got the NFL it is -- a second ago the NBA and Major League Baseball have been preparing for this moment for months over a year now even going to statehouses in capitals and lobbying for what they want and the NFL's produced two state viciously we're still kind of sketched out by this in the integrity of the game that and you know even though gambling split up a 150 billion dollar business for years now much a lot of it on the NFL we're still kind of sketched out by this it kind of feels like they're kind of throwing their weight around wanna get caught wanting congress to do what they want congress to do a little bit. You know that's why there's such push for them to have control and you know I mean also draw that's that's where you know they have control you know they have the power and if they have the power they have the money. And yeah that's the reason why I'm believe that tell you a par there is nothing you know didn't get the ratings and those type of things they wanna go to Mexico City. They're 1011 million people in one area and wanna go London 1011 million people and one area. You know tons of people to gamble in London it's. You know I'm sure they'll be people in Mexico City they gamble they know that the problem would be there you know the conversion rates in those type of things but. I'm I'm sure they're Smart guys that can you figure out how much peso is vs the dollar. And are much week. Pound is vs dollar and you know they do all the time so from now those are things that the NFL's looking to expand its brand. I mean I think it's even going to be more so now. Know when you start looking at the amount of money with gambling that is available to them. You know with twenty plus million people you know sit right there in the back pocket that like football. You know and that's going to be interest to see how that evolves. Indy no details and a big part of that. You said something and that was inching a second ago text or writes that he says that the NFL wants moaning from the get money from gambling. They need to open up their own little gambling business. I think that's I think that's a massive conflict of interest and I agree with you real what I what I could foresee happening what is it a second ago is that it -- owner like Jerry Jones in the future builds a new stadium and there's a NFL running its own gambling operation I agree with frank is is an enormous conflict of interest and I don't know how you never trust that. There I mean you know if you're gonna follow. You know the the evidence are gonna follow you know the the crime you do follow the money right and you know when you start looking at things are being opened up then you know things that are being done in different areas. No that's kind of where you start you know if you're investigating. Not a lead on something right you start with. You know where that trail takes you and you know that's going to be interest in the C you know kind of the push back to the NFL is proceeding to give. Image wise but it alternately. You know where the money trail leads because. I think they'll be some connections there to the NFL even though you know it's worse so against it mean this is just a terrible idea and if you follow the money lines you know it'll go right back to you know where those things start. As it always does. The group tours the NFL not genuinely concerned about the integrity of the game here the NFL wants to throw its weight around a mixture of the unifil gets what it's always wants him when you're that we are eleven billion dollar industry in there and the biggest sports league in this country and what the two biggest in the world. At least try I mean if I use this example all the time but it's perfect you know it's like window when Katy Perry was asked to to perform via the Super Bowl halftime show a couple of years ago and they went to her Katy Perry Barlow a global pop superstar they sit. Yet to be Unita chaos. Are performing Super Bowl last time right in LA that's traditionally never been on the deal until that point that was so big and brash and an arrogant Nicole ordered isn't what JD periods and make. We want you but you're gonna need chaos for the their right to perform our halftime shows in the NFL is never going to shy away from asking for more money in throwing its weight around and what it wants. Yeah I can you know what whose numbers you are projected to escalate you know with TV contracts. And you know maybe the new deals that are being a cut to you know on the you know that the black market but the secondary market with some of these new. You know industries and companies that are coming forward and no they're all gonna bring money stream and revenue to you go to the NFL so it's worth eleven million dollar to think might be slightly more. More like yeah direct from. You know what's your viewers in five years eighteenth. That's the projections and I'm you know that's we start looking at the amount of money that's gonna be there you know with these owners and look at the teams and how much they're selling forming the Panthers 2.2 billion. Here you either put the estimation was in the Dallas Cowboys at four point eight million mean. That's seven billion dollars right there I thought US to relieve your question when you sit in it what do I want to go to were you when US durable ports this thing plateau right because as we've learned cold diminishing return of the there's no such thing as as perpetual growth right so what point does the NFL plateau and then there are those in any sort to come back we are. It's about the funny things glee were not asked Arthur Blank that question at the Super Bowl probably about twelve years ago. And you know he as well as you said it's really good question but continues to grow bright light and continues to grow but at what point do you pressure trans out at what point. In movie stars are already at what point do you start sand that's knuckleballer forward you know to take in others that my kids aura. I have that experience. You know what point do you risk he'll be coming in similar to what we see in NASCAR and meeting all corporate right and yeah that's the type of thing and that's where the NFL I think has been Smart and has started to get the HDTV's involved in the televisions and you know the you know the red zone channel and all the other thing the W experience yeah I mean there there are understanding that you know they're coming to a point where. There almost tapped out at one spot with a doesn't mean that there's not growth and value and a lot of us. Just deployed in this ward Alec Mark Cuban says it takes gives fat posted slaughtered he doesn't think it's a good investment abide team right now and and I think that is it still loved ask mark more about that a real quickly because somebody screamed out to go to break puts extra rights and a say what leverage does the NFL haven't states without a team. I could ask fright for cut his paycheck but I better have some leverage in this particular case I think it's a great question and I don't know what it's why. It's why which are the question you're asking is why the NFL. And some of these leagues one and a federal. Law solution. As opposed to allowing the states to do this thing on a state by state basis because what leverage do they have let's why the NFL wants congress to act and that's why. There's a senator you're tall whose names escaping me Donald that's why he's put goals. Oh yeah or has sent more Orrin hatch has come forth with some some possible suggested legislation for that very reason right there because states like West Virginia where the governor Jim justice site Abraham X amount they were to do this. And you're a strong arm and as we're gonna do Norway they're gonna run those fights where it was states to make demands of themselves on how they're going to do this are gonna come back and we we had our number three years it's extra boring please talk about OTA's double of those doesn't we don't talk about what is so we planned on Ellis started our guys and sort an hour. It's just the sort of doesn't shorts and swept their stretch impasse is another translates the Super Bowl glory we'll do next it's Garcia Blaylock.