Bloomberg Business of Sports

On this Bloomberg Business of Sports podcast, Scott Soshnick, Eben Novy-Williams and Michael Barr discuss the U.S. Supreme Court's decision to free states to legalize gambling on individual sporting events. The move will unleash what will be a race to attract billions of dollars in wagers and heralds a new era for the major sports leagues. Sports gambling could begin in a matter of weeks in casinos and racetracks in New Jersey, which instigated the legal fight by repealing its gambling ban. The move could also assist media companies and drive fan engagement, resulting in even more revenue for teams and owners. Shares of casino operators and their suppliers jumped on the news. Americans place $150 billion a year in illegal sports bets, according to the casino-backed American Gaming Association. The research firm Eilers & Krejcik Gaming puts the number at $50 billion to $60 billion, not counting bets among friends.This is a Bloomberg podcast. To download, watch or listen to this report now, click on the thumbnail/player on the sidebar. For additional Bloomberg podcasts, see BPOD. -- Bloomberg Radio +1-212-617-5560See omnystudio.com/listener for privacy information.

Ultimate Fighting Championship Chief Operating Officer Lawrence Epstein discusses a host of issues related to the business of sports, including the organization’s recent agreement with the Walt Disney Co. that’ll put 15 events exclusively on ESPN’s new over-the-top platform, ESPN+. ESPN paid about $150 million a year for about one-third of UFC’s total content, meaning the organization can still sell more inventory to a traditional broadcaster such as Fox Sports. Fox had paid about $150 million for all of UFC’s rights under terms of its existing contract. Epstein also talks about creating stars like Conor McGregor, global distribution and the entertainment value of the in-arena experience. A Las Vegas native, he also talks about the NHL’s Golden Knights, an expansion team that’s reached the conference finals in its inaugural season.After earning his law degree at Vanderbilt, Epstein clerked for a Nevada state judge. He then moved on to a law firm, where he represented casinos and Top Rank Boxing, whose chairman, Bob Arum, is among the best-known promoters in boxing.See omnystudio.com/listener for privacy information.

On this Bloomberg Business of Sports podcast, Eben Novy-Williams and Michael Barr discuss the National Football League’s growing cheerleader problem. For years the NFL has let individual franchises dictate their own policy towards cheer squads. Now, in the wake of a New York Times report that said Washington Redskins cheerleaders were made to pose topless for season ticket holders back in 2013, there’s increased scrutiny for the NFL’s policy. They also discuss the Kentucky Derby -- which drew 150,000 fans in the pouring rain -- and the Pac-12 Conference passing $500 million in annual revenue. See omnystudio.com/listener for privacy information.

RedBird Capital Partners Managing Partner Gerry Cardinale discusses a host of issues related to the business of sports, including his moderating a panel at the Milken Institute Global Conference earlier this week in Beverly Hills, California. He also discusses his role in the creation of both the YES Network and Legends Hospitality, which is controlled by the New York Yankees and Dallas Cowboys. Cardinale also talks about team valuations, digital distribution and where the best investment opportunities are in professional sports.Cardinale oversees all investment activity at RedBird, which he founded after retiring following a 20-year career at Goldman Sachs. He sits on the boards of the YES Network  as well as the Yankees.See omnystudio.com/listener for privacy information.

On this Bloomberg Business of Sports podcast, Scott Soshnick, Eben Novy-Williams and Michael Barr discuss the possible sale of New York Mets' limited partnerships. In 2012 the Mets sold 12, $20 million stakes in the team. The investors were guaranteed a 3 percent return compounded annually over a six-year term with an option to sell at the end of the deal. Several of the investors have told the team of their intent to unload their stakes. They also discuss corruption at the lower levels of tennis -- and the effect it may have on sports betting legislation -- and the NFL's new digital deal with Amazon. See omnystudio.com/listener for privacy information.

New York City Football Club President Jon Patricof discusses a host of issues related to the business of sports, including his team's new Etihad training center in suburban New York. The facility, the cost of which wasn't disclosed, is the third academy built by the club's majority owners, City Football Group. Patricof also discusses his team's search for a new stadium, his experience in various sports business initiatives and how Major League Soccer can benefit from new media and video games. He also talks about how the organization tries to maintain uniformity across its teams -- right down to the grass on the fields. Patricof was named president of NYCFC in 2016. He previously served as president and COO of Tribeca Enterprises, parent company of Tribeca Film Festival. A native New Yorker, Patricof also worked as an executive in the strategic planning department at The Walt Disney CompanySee omnystudio.com/listener for privacy information.

On this Bloomberg Business of Sports podcast, Scott Soshnick, Eben Novy-Williams and Michael Barr discuss the NFL making a special exemption to its debt limit, lending $2.25 billion to the Los Angeles Rams for their new stadium in Inglewood. The stadium will also be the home of the Los Angeles Chargers. The trio also discusses the NBA's continued push into China, including the hiring of a media executive to lead it's efforts in the world's most populous country. They also talk about record revenues seen in England's Premier League and Spain's La Liga, both a product of more lucrative TV deals around the globe.See omnystudio.com/listener for privacy information.

Vegas Golden Knights President Kerry Bubolz discusses a host of issues related to the business of sports, including his expansion team's run into the second round of the National Hockey League playoffs. Bubolz also talks about the often overlooked expenses that go into starting a professional sports team -- such as pens and paper in the office. He also discusses the team's fan outreach, and how owner Bill Foley has stressed the importance of entertainment during games. Bubolz also touches on the affect nationally legalized sports betting would have on professional sports teams and leagues. The Golden Knights, in their inaugural NHL season, hired Bubolz in 2016. He had spent the previous 13 seasons with the NBA's Cleveland Cavaliers, rising to serve as the club's president of business operations. He also oversaw the American Hockey League's Cleveland Monsters and the NBA Development League's Canton Charge. Prior to the Cavs, Bubolz was vice president of sales for the NHL's Carolina Hurricanes and Dallas StarsSee omnystudio.com/listener for privacy information.

On this Bloomberg Business of Sports podcast, Scott Soshnick, Eben Novy-Williams and Michael Barr discuss the sale of the NFL's Carolina Panthers. The bidding has reached $2.5 billion, prompting Fanatics Executive Chairman Michael Rubin to drop out of the process. Alan Kestenbaum, Ben Navarro and David Tepper are also interested in buying the club. The trio also discusses Major League Baseball's early season weather problems and whether the league would consider shortening its season. They also talk about the power of the NBA, which has seen mushrooming television ratings early in the playoffs, and a global audience powered by social media savvy stars. See omnystudio.com/listener for privacy information.

Think450 President Jordan Schlachter discusses a host of topics related to the business of National Basketball Association players, including the union’s decision to take back what’s called the group license from the league. Among other things, it enables the union to directly commercialize the players’ likenesses. Previously, the union sold those rights to the league, which then negotiated deals with partners like Nike and Electronic Arts. Schlachter also talks about Think450’s decision to partner with Japan’s leading advertising agency, Dentsu Inc., to develop content and create and stage global events that feature the union and its members. Think450 is the for-profit innovation engine of the NBA players association.Schlachter originally joined the NBPA as its first chief marketing officer and was charged with preparing the organization to bring the group license in-house. A former Harvard basketball player, Schlachter also worked at The Marketing Arm, iHeartMedia and the U.S. Olympic Committee.See omnystudio.com/listener for privacy information.