Nina King, Disney, Disney Disney discussed on Bloomberg Business of Sports


Is Bloomberg business of sports Talk about some of the more interesting aspects of business sports There's all kinds of cool questions So this is a fun topic The country is finally getting the memo about how amazing the sport is I think the sky is the limit for MLS We're spending more and more of our time in a digital world and it's also becoming a really powerful place for commerce It is so nice to be back and to be able to have fans back in the building So despite the chaotic schedule this is why we do what we do We need to get into the playoffs There's nothing better as a player to excitement and it's also for the organization Bloomberg business of sports From Bloomberg radio Hello welcome to the Bloomberg business of sports and we explore the big money issues in the world of sports on Michael Barr I'm scarlet fu And we have a good guest that we have several guests this week in fact First of all we have Nina king and you know Nina king She is the vice president and director of athletics for duke university and also to help explain a few things An old friend of the show Marty itel He's the co chair of ghoulston and stores sports law practice We're going to talk about the business of sports as you always know The focus of this is on the NIL article by Bloomberg laws Peter Hayes which is connected to the Nina king interview that we are going to present to you That is coming up straight ahead on the Bloomberg business of sports but we got some topics to talk about And let's start oh my Disney+ could lose 20 million subscribers by saying so long cricket in India and scar cricket is king in India Oh my gosh completely So Disney was competing against a couple of other bidders and it turns out reliance which is a Indian conglomerate have won the digital streaming rights to India's Premier League for cricket for $6.2 billion At 6.2 billion overall is a four meteorites but we're talking specifically for the streaming rights which has been awarded to reliance rather than Disney Disney got the TV rights but it really wanted the streaming rights And at stake here is the number of subscribers for Disney+ That is the driver for the stock price for Disney Disney stock price has not been doing well in 2022 Down in almost 40% 39% so far this year And a big part of that is because investors are re rating global streaming and how much money you can make from a Netflix obviously was a catalyst for people re rating everything after Netflix said that it was seeing subscriber growth slow down and gave forecasts that showed that the slowdown would continue and now everyone's looking at Disney and saying wait a minute Disney+ can it get to the numbers that it had promised Bob chapek the CEO had promised or had forecast that it would get as many as 260 million subscribers by 2024 Without cricket I don't know if it gets there But let's be fair though The money that they would have to pay to get the rights for cricket we're talking multi-billion dollars That is a lot of money scar It is it is but they're willing to do it to get the numbers because the numbers drive the stock price And the stock price is a barometer It's reflection It's a referendum on the company and how it's being managed by bob chapek who of course took over from bob Iger and has still yet to convince investors that he's the steward for the company the way that Iger was for Disney And when I say billions we're talking about $6.2 billion Let's move on to the Baltimore Orioles Now yes of course we know the record is like but they are Fan base though They do They're fun to watch if you're a fan of the Orioles The Orioles let's say the key players involved they made a statement the family we're not leaving anywhere We're not leaving Baltimore Where did you get that knucklehead idea There's a lot of family drama here which I didn't realize it didn't fully appreciate but the CEO and chairman of the Oreos John angelos says that the club will never leave and this comes after his brother Louis brought a lawsuit against John alleging that John was trying to seize control of the team and the rest of his father's holdings Peter angelos is the father He's 92 years old and he's owned the Oreos for almost three decades So it's a lot of wrangling over a very valuable asset here That's kind of drumming you have when you got a lot of what you have drumming any family but when you got a lot of money you get this drama I'm taking you to court because you know you're not going to rule this baseball team that we own all of us will See this is I would like to experience that drama once Just one time But you know what They'll get this sorted out sooner or later And a big plus for John angelos is that he made a point of saying that two months ago lawmakers in Maryland passed the bill that puts aside $1.2 billion to improve Camden yards or the Camden yard sports complex because we can't just limit it to the ballpark per se And that investment can only be accessed if the Oreos and the Baltimore Ravens sign long-term leases If they stay in town basically And very quickly Pittsburgh Steelers They make minka Fitzpatrick the highest paid safety in NFL history We're talking about more than $18.4 million $36 million guaranteed at signing as well You had to explain to me what a safety does Is this an undervalued position of a barn overvalued position in football No that's a very valuable position because if you're especially if you're on the defense because you've got this is how when you see those big wide pass outs or even a little screen the safety is all of a sudden going to see okay This is a screen or is this going to be a long pass whatever and I'm going to make sure that you don't get away with it So yeah they're very important Okay So on the offense side right Not necessarily in defense or is it for defense Yes we're defense Okay But it's happening when the quarterback is getting ready to throw the pass Yeah Yeah so I'm impressed man That's good Wish I played football Coming up we will talk with the athletic director with duke university Nina king that is straight ahead on the Bloomberg business of sports Scarlet foo will be there and we will also be joined by our good old buddy special guest host Damien saf star straight ahead on the Bloomberg business of sports Don't forget we have the podcast for the show every Monday Wednesday and Thursday You can download that wherever.

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