Navigating a Career in the Sports Industry

Rich Gotham, the president of the Boston Celtics, joins CJ to discuss the business side of one of the world’s best basketball teams and most recognizable sports brands. He explains the evolution of the Celtics' business model over the last decade, how the team diversifies its revenue streams to mitigate its dependence on in-game income, how they grow the team’s revenue given the finite number of seats at each game, and the role that digital technology and sponsorships play in this. He talks about how the team's performance affects the revenue they generate and he sheds light on how the use of ticket sale data, dynamic pricing, and building a membership model contribute to the team’s financial success. He also clears up, once and for all, what really happened with Paul Pearson in the 2008 NBA finals!

If you're looking for an ERP head to NetSuite: https://netsuite.com/metrics and get a customized KPI checklist.

—

SPONSORS:

NetSuite provides financial software for all your business needs. More than 37,000 thousand companies have already upgraded to NetSuite, gaining visibility and control over their financials, inventory, HR, eCommerce, and more. If you're looking for an ERP platform ✅ NetSuite: https://netsuite.com/metrics and get a customized KPI checklist. 

Maxio is the only billing and financial operations platform that was purpose built for B2B SaaS. They're helping SaaS finance teams automate billing and revenue recognition, manage collections and payments, and put together investor grade reporting packages. 🚀 Request a demo at www.maxio.com/runthenumbers for 10% off your first year.

Leapfin is accounting automation software that automatically prepares and posts reliable journal entries. High-growth businesses like Reddit, Canva, and Seat Geek choose Leapfin to eliminate manual tasks, accelerate month-end close, and enable accounting leaders to provide faster insights to help their companies grow. To automatically standardize your revenue data with measurable business impact, check out leapfin.com today. 

Mercury is the fintech ambitious companies use for banking and all their financial workflows. With a powerful bank account at the center of their operations, companies can make better financial decisions and ensure that every dollar spent aligns with company priorities. That's why over 100K startups choose Mercury to confidently run all their financial operations with the precision, control, and focus they need to operate at their best. Learn more at mercury.com.

Mercury is a financial technology company, not a bank. Banking services provided by Choice Financial Group and Evolve Bank & Trust®; Members FDIC.

—

FOLLOW US ON X:

@cjgustafson222 (CJ)

—

TIMESTAMPS:

(00:00) Preview and Intro

(01:45) Sponsor - NetSuite | Maxio

(04:37) The Evolution of the Boston Celtics’ Business Model

(06:31) Diversifying Revenue Streams 

(10:08) Growing Revenue With a Finite Product

(12:31) The Impact of the Team's Performance on Revenue 

(14:52) Adding a Jersey Logo and the Role of Sponsorship 

(17:50) Sponsor - Leapfin | Mercury

(19:49) How Making the Playoffs Effects the Revenue Model

(23:03) Dynamic Pricing and How Ticket Prices Are Set

(25:14) The Role of Data in Ticket Sales

(28:57) Rich’s Epiphany About the Fans’ Values

(30:32) How This Functions as a Membership Model

(33:02) The Estimated Lifetime Value of a Fan

(36:24) Sports Teams That Rich Tries to Emulate

(40:39) Long-ass Lightning Round: Career Advice and Insights

(48:54) The Truth About Paul Pierce and the 2008 Final