A Pioneer for Athlete Entrepreneurs, A-Rod's Satellite Venture
Dec 22, 2023
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Join hosts Michael Barr, Scarlet Fu, and Damian Sassower as they discuss the latest headlines and stories in the business of sports. Bloomberg reporter Randall Williams interviews Ulysses 'Junior' Bridgeman, a former NBA pro who became a successful entrepreneur. They talk about Bridgeman's business journey, including owning franchises and becoming a leading bottler for Coca-Cola. They also discuss Alex Rodriguez's new big money deal with Lynk Global, a satellite communications provider. Plus, they cover the naming rights deal for the Orlando Magic's stadium with Kia.
Junior Bridgeman emphasizes the importance of financial planning and having a post-career plan for athletes.
Junior Bridgeman highlights the value of partnerships with sports franchises and the significance of creating quality content in the media landscape.
Deep dives
Junior Bridgeman's Journey from NBA to Business Success
Junior Bridgeman, former NBA player, discusses his transition from professional basketball to business. During his NBA career, Bridgeman prepared for life after basketball by working various jobs and gaining experience in different industries. He emphasizes the importance of not just making money, but knowing how to manage and invest it wisely. Bridgeman shares his insights on financial planning and the need for athletes to have a post-career plan. He also touches on the changing landscape of sports business, media rights, and the value of diversity in the industry.
Expanding Opportunities in Coca-Cola Bottling and Media
Junior Bridgeman, CEO of Heartland Coca-Cola Bottling Company, talks about his involvement in the beverage industry and media. Bridgeman highlights the value of partnerships with sports franchises and entertainment venues to enhance brand exposure and provide added value. He also discusses his ownership of Ebony and Jet magazines and the importance of preserving valuable content. Bridgeman recognizes the potential of media rights and live sports rights in today's market, emphasizing the significance of creating and delivering quality content in the media landscape.
Advice for Athletes in Business Endeavors
Junior Bridgeman provides advice for athletes looking to pursue business opportunities. He stresses the importance of preserving and growing wealth after retirement, rather than seeking immediate investments without proper knowledge and understanding. Bridgeman encourages athletes to consider their post-career financial goals and make informed decisions aligned with their long-term objectives. He also highlights the value of gaining experience and becoming proficient in a specific area before venturing into new business ventures.
The Changing Landscape of Sports Ownership
Junior Bridgeman reflects on the changing dynamics of sports ownership and the rising valuations of sports franchises. He shares his experience as a former minority owner of an NBA team and the challenges of having limited influence in decision-making processes. Bridgeman acknowledges the increasing financial requirements and competition involved in owning a sports team, as well as the growing potential in media and entertainment industries. He discusses the significance of understanding the business aspects and nuances of different industries before investing.
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.
Bloomberg US sports business reporter Randall Williams joins Scarlet and Damian for a conversation with Ulysses "Junior" Bridgeman - a former NBA pro who built a $600 million dollar fortune after his playing days and serves as an early example of an athlete becoming an entrepreneur. He discusses his business journey, which includes being a successful franchise owner of Wendy's and Chili's restaurants, and now becoming a leading bottler for Coca-Cola.
Michael, Scarlet and Damian also speak with Orlando Magic CEO Alex Martins about his up and coming team, and the new naming rights deal for its stadium with Kia.
Plus, Bloomberg News US deals reporter Crystal Tse joins to discusses former MLB slugger Alex Rodriguez's new big money deal with Lynk Global, a satellite communications provider.