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Bloomberg Business of Sports from Bloomberg Radio.

This is love Bloomberg Business of Sports.

We explore the big money issues in the world of sports.

I'm Michael Barr, Damien Sas Hour is off this week.

Vanessa Perdomo, we'll be joining us later on in the show.

Coming up, we'll talk some golf with the founder of the Big Daddy Celebrity Golf Classic, Rich Big Daddy himself Sell Gatto.

It's an annual golf tournament that brings together celebrities, athletes, and others in partnership with Tunnels to Towers Foundation to raise money and awareness for military families and first responders.

One of the things that's really really fascinating is that ninety three to ninety five percent of every dollar that they've raised goes to the charity.

I mean, that's unheard of.

Plus, we'll also talk about how the PGA Tour is making its way back to one of President Trump's golf courses for the first time in about a decade.

All that is on the way on the Bloomberg Business of Sports.

But first, we've seen a lot of players lately get in trouble for betting, and as sports betting continues to grow, it's a problem that is not likely to go away.

Bloomberg News Global Business Sports reporter Iira Boudue has done a lot of reporting on this and he is here now to break it all down.

Iira, welcome back to the Bloomberg Business of Sports.

Thank you.

This is a very serious article and you wrote it.

It's about the leagues are struggling to deal with player prop wagers in sports, and it's very serious because it involves several players and especially one two of them recently with the Cleveland Guardians.

The pitchers tell us more about that.

Yeah, you've had two pitchers placed on leave.

First was Louis Ortiz, the starter, and then Emmanuel Classe, the closer.

And in the case of Ortiz, it was reported by ESPN that a couple of pitches that he'd thrown had been flagged by one of these monitoring agencies called IC three sixty.

They monitor the betting markets for suspicious activity, and they saw that there was some unusual betting.

I would assume on pitches he'd thrown where it was the first pitch of an inning and it was a ball, and you can bet on that the first pitch of an inning will be a ball or a strike.

And then we don't know really the details of why Class was subsequently also placed on leave, but people went digging through his stats and they saw that this year, his first pitch of the ninth when he comes in typically as a closer closer, it has been what they call a wast pitch, which means not close to the strike zone a really high rate, unusual for him, and so people were speculating that that's what's going on.

We're going to find out.

It's an ongoing investigation, but it brings to light a real issue for leagues, which is that when you have these prop bets, and when these prop bets are on things as small as a single pitch, it's an increased integrity risk.

That's a really tempting and easy thing to throw.

It's not the same as like we're going to lose this game on purpose, right, that's a card conspiracy to execute.

This is one guy.

Somebody says to him, Hey, just waste your first pitch of the inning.

No one will notice.

We'll put some money on that.

We all make a little bit, no problem, we move on with our lives.

But as it turns out, and as I argue in this piece, like players don't realize, I think that you're going to get caught trying to do that.

Yeah, So, and the leagues need to figure out what to do about it.

Adam Silver, NBA commissioner, wrote years ago that listen, we're going to have gambling.

You know, it doesn't make a difference where it's going to come from.

It's going to happen.

So he was a supporter of legalizing online gambling, and then later on you get the problems with porter and everything going down.

What I wonder now is we're not and by the way, you know we're not talking about okay, is this kicker going to you know, kick a fifty plus yard field goal or something like that.

We're talking about.

I mean, you can see it if you are really paying attention as a fan.

And I just wonder, now, why has it taken this long for something like this to catch up?

Yeah, I mean I think you have seen.

You're right, So, Adam Silver that was a sea change twenty fourteen, he said, I'd like to legalize this then, because and the argument has always been that if this is in the light, people are gonna bet, people are gonna gamble on sports.

If you do it in a regulated market, you have more visibility.

The rules basically are that all of these DraftKings, FANDLED they have to share information about what's going on and flag suspicious things to these groups like IC three sixty as a company that basically what it does is monitor markets, and they by rule have to talk to the regulators and to the monitors about what's going on in their markets in a way that an offshore book or a corner bookie is not going to do.

And so I think the argument is, look, we're catching it now because it's that in the open, we can see into it.

And so yeah, you're hearing about it, but like, it's better this than it happening in the shadow and you don't even know until it erupts in a big way.

And the tip off you mentioned also one of the several tip offs, was that all of a sudden, and I believe it was Louis Ortiz, all of a sudden, you get this action on the bets that hey, he's gonna go outside and this and that whatever.

It's like, well, wait a minute, that didn't make any sense.

That's what usually where it begins.

It's not somebody's watching that game and goes, why did Ortiz throw a ball?

Because you wouldn't think twice.

What happens is somebody's watching the markets, whether that's one of the betting houses, and they go, what the heck is so much action on orties first pitch twice?

Now this has happened, and they might flag it to the monitors and say, hey, we're seeing weird action on this, or the monitors might sit there and look and go seeing a lot of bets a lot of lines are moving strangely for no reason on this or that game that we can discern.

There's no injury, there's no weather change, there's nothing that's changed but suddenly, and that's what their business is.

And then they go from there and they unravel there is something or not, and I think players don't necessarily know.

I think the leagues need to do a better job explaining to them that that's happening.

That if you're John tay Porter, you think you're going to get away with this, and that you can you know he had gambling, That's he said when he played guilty, Like you could go and pay your debts off easily by just checking out of a game a few minutes early.

Why wouldn't you write If you know that there's somebody sitting there at a computer who's going to see that action and raise a flag, maybe you don't do it.

And so I think they I know the leagues are trying and they have outreached.

They post the gambling rules in their clubhouses and locker rooms.

They have mandatory sessions where the players have to learn about like the risks and best practices.

But I think they need to figure out a way to bring in people to say here's how we're going to catch you, to bring in players who have gotten caught, say, man, I wish i'd never done this.

That was stupid.

And to bring in potentially people who are into match fixing and say here's how I'm going to get my hooks into you right here.

So I'm going to kind of get you kind of in my debt right and then I'm going to say, hey, you want to settle that up, just here's a little favor you can do for me.

I think that kind of education, now that the gambling is so widespread, is so easy.

I think they're going to need to figure out how to educate their players better, you know, or they're going to continue to see events like this that make fans not trust what they're watching.

Now, I'm going to go a little bit off the board here, but this is a story that broke as we were doing this interview, India's government introduced a parliamentary bill a band online gambling, citing concerns over addiction, financial harm, potential links to money laundering and terrorism financing and that part.

And already it's been established, you know, because they have the pokers set up and cricket apps.

I mean, my goodness, the fantasy cricket apps are wild.

So question now is if this passes in India, is this going to be the reverse of online gaming across many countries here, including the US.

Yeah.

I mean the US is an interesting place because it's state by state.

The rules are managed at a state by state level.

What we have seen is the slow down of the rollout Texas, California, these big states that they want to get into those markets, the sports betting operators do, and they haven't yet, right, And I think there's increasing resistance and a desire to stiffen the rules.

A bit of a backlash, I would say, happening partly around some of these instances of corruption that we're talking about coming to light.

I also think the addiction, right, the social costs are becoming more real.

I think now that not only is legalization changing, you know how easy this is to do, but the smartphone, let's just put it in your pocket in a way that is for people who struggle with this kind of thing is incredibly difficult, right to not slip into addiction.

When you've got it in your pocket, you can do whenever you want there's always a market on something, and in many cases, the sports books are kind of leading you along.

They're saying, hey, here's five hundred free bets.

Hey, we noticed you haven't bet in a while.

Here, let me give you some extra juice on this or that bet.

Right, this is there's a real cost of that.

And there's been some interesting research lately in the US about kind of where states that have sports betting versus those that don't, the kind of damage to people's personal finance that's happening.

So I do think there's a bit of a reconsideration happening now that you know, we're seven years on from the Supreme Court ruling that opened the way for more states to legalize sports betting.

I think we're seeing some questions about like where do the guardrails need to be, and are they strict enough the way we have them now.

I don't think you're going to see like a full on federal prohibition going backwards.

That would surprise me.

And I want to expand more and then I know we're running out of time.

But back in the day, you wanted to place a bet, you had to get dressed, you had to go to the casino, In fact, before you had casinos even pot up, I'm talking about land casinos, you had to go to Vegas or Atlantic City if you wanted to place a bet.

Now you then came the building casinos, and then came online betting, and now you can bet in your pajamas with just a phone.

And especially to the younger people out there who are doing this, please use some common sense, folks, because it's in older people the same way too, because it can destroy you if you don't pay attention.

Yeah, I think you're very right.

Good point that you make that, Like there used to be more friction.

You either had to get yourself to a casino or maybe you had to go talk to a bookie who would you know, maybe rough you up if you didn't pay.

Like, there was some risks, there was things you had to do.

There were barriers to doing this.

It wasn't just click click click, And I think we're finding out that when it's that easy, you know, there's a little bit more of an issue with addiction.

So you know, it's a lot of I think interesting questions that regulators are going to have to wrestle with and leagues are going to have to wrestle with in the year's aad.

Our thanks to Bloomberg News Global Business sports reporter and friend of the show, I reboil It for joining us.

Check out his latest work.

Leagues are struggling to deal with a certain type of sports betting, featuring in Bloomberg Business.

Up next, we turn to golf and how the PGA Tour is heading back to one of President Trump's courses.

I'm Michael Barr.

You are listening to the Bloomberg Business of Sports from Bloomberg Radio around the world.

This is Bloomberg Business of Sports from Bloomberg Radio.

This is the Bloomberg Business of Sports where we explore the big money issues in the world sports.

Michael Barr, along with Vanessa Perdomo Damian sas Hour is off this week.

For the first time in about a decade, President Donald Trump's Miami area golf course will host the PGA Tour in twenty twenty six.

Bloomberg News Wealth reporter Annie Massa has been following this and joins us now to talk about it.

Annie, Welcome to the Bloomberg Business of Sports.

Thanks for having me.

The I can't use the phrase the Durrell Open is going to come back because I think it's the Miami Championship.

But you know, old geezers like me remember back in the day when the old Darrel Open was from like sixty two to two thousand and six.

Now it's making news again because Donald Trump, who owns the course, he is able now to get the PGA Tour to come back for twenty twenty six.

That's right.

So the PGA Tour announced that they will return to Trump's Durrell Resort in twenty twenty six.

And this is at the end of a decade long absence from the course.

They used to regularly hold championships there.

And it's a big deal because it's yet another mark of company, or it's yet another mark of how different kinds of businesses, both in sports and elsewhere, have warmed to Trump in his second presidency and cozied back up to him even after long absences or after stepping away.

That was what I wanted to ask you about.

What was the reason for this thull after freezing him out for the ten years or so.

I mean, one can only guess, but he's in a position, he's in a position of huge power now again he's the president, and I think that it's important to recognize that after he left office the first time, many businesses kind of kept their distance or dropped him in some way.

So the PGA of America was slated to host an event at a Trump property, and they walked that back after the attack at the Capitol.

And that was just one type of business that moved away from the Trump's and the Trump organization.

We all remember that his social media accounts were he was kind of deplatformed.

This is something he talks about a lot.

So there was a sort of corporate reaction against the Trumps in that moment.

And so to have the PGA Tour coming to Durrell next year, it's a mark of how the PGA is warming back up to him.

Also, in the interim, you have Lived Golf stepping into the fray.

So that's a whole other conversation.

Yes, that brings us to the next point with Live coming in play now with this and the PGA, and they're still trying to iron things out.

It's like, can't we all get along here?

The thing now is will we see one day the I want to clarify this Durrell where Trump owns mister Trump.

Will we see Live come play?

At Durrell, So.

Live has been hosting in the interim, So since Trump left office, in the interim, Live has been repeatedly hosting its own events at Durrell.

That was true in April of this year, and it's a big TVD.

What will happen with Live and the PGA.

Trump has at times weighed in on that himself, and it's it's a question.

I don't I don't have the answers to that, unfortunately, but you do have these two different golf fleas that are at odds obviously and looking for some kind of marriage perhaps both now coming to the Trump's properties, I should also say the courses are owned by the Trump organization or the courses are Trump organization properties.

It's interesting there because you were saying Trump has been very has backed Live Golf intensely, and it has been a supporter of Live Golf intensely.

I've went to an event for Live Golf that was held in New Jersey very you know.

You know a lot of people were there, a lot of people from both sides were there from for different reasons.

But Trump was there himself and he's shown a lot of support for them, which is surprising that the PJA would now decide to saw this relationship with him, considering how much he's been a supporter of their rival league Live.

Does that it's it's surprising to me that they have that hasn't deterred them at all, And does that also do you think then show that maybe we don't know what's happening with the mergence of the two, but maybe they're a little bit closer because of this joint relationship that they now will have the Trump organization.

There's there's a branding question, I guess, and the appeal of the PGA brand and then having the PGA come to a Trump property is probably irresistible for the Trump organization.

And it is a different brand.

It's a very different kind of brand, Like it's got this like whole venerable old school vibe versus the more raucous, upset energy of Live and Live also has the albatross or overhang of the fact that you know, it's Saudi money backing this, and that's been controversial for its own reasons, not everyone.

You know, something that critics would point out is this is a Saudi back league that's really generating a lot of generating a lot of business.

For when you bring a big event to a Trump property, you generate a lot of business for the property, of course, So you know that's where it raised questions of propriety as well.

One of the questions I did have actually was when they when PGA first stepped back from their relationship and holding events at the Trump properties, how much of that revenue did they take away from the Trump properties?

That is not entirely clear.

You can't you can't exactly see that line item broken out on his financial disclosures, but you can just you can just imagine that when you do host the event, there there are some there are some fees associated with it, but it's really you bring.

You bring, You bring customers to the property.

People come and stay in the hotels.

It brings in all kinds of money in other ways, like affiliated with the course.

It was the black eye really of the PGA of America saying we're not going to hold our event.

I want to go back to the Durrel Open and why it ended in two thousand and six.

It was the four championship at Darrel and the last winner was Tiger Woods in two thousand and six, and then they ran into sponsorship problems, and that was it for the Durraw Open.

Now that it's the Miami Championship, will we have a problem because President Trump owns that land of getting a sponsorship for maybe going back to the old Dround Open name.

That's such a good question.

I mean, the scale of the Trump organization and the companies that want to do business with it across all of these different areas just is staggering, and golf is just one one piece.

Really, I just wonder, because now you're talking about the man, the president of the United States, what do you run into?

Do you run into any problems?

If I'm for it?

It's like, okay, well do I go back and sponsor this again even though it's owned by President Trump?

And that's not you know, I'm not talking about politics.

I'm just talking about you know, emoluments, clauses and all the other stuff and this and that.

Whatever it's It seems like it might be some issues about that, but maybe it can be worked.

Out, or maybe it's a selling point, or maybe it's a selling point to a sponsor.

You don't know.

I mean, in Trump's last term, there were several lawsuits related to the emolument's clause and his hotel properties and those were all those all ended up being dropped, and so it might embolden, it might embolden brands to want to sponsor the other who knows.

Yeah.

Absolutely.

In your piece, you cited a text message that Eric Trump had sent saying it was a great honor to be welcome back to the PGA.

I'm curious what his relationship is to the deal in terms of his relationship, like what he oversees for the Trump organization in terms of like was he part of bringing the PJA back here?

What is his place that.

Eric Trump now runs the day to day business of the Trump organization.

When Trump took office, he handed his business over to Eric Trump and Donald Trump or they're both executive vice president, both executive vice presidents, but Eric Trump is the one who's kind of the day to day leader of the Trump organization.

But you can't get away from the name that's on the door, I guess.

In terms of brand.

Now, that's let's blenda.

I mentioned Tiger Woods earlier, and I should also add that recently Tiger Woods.

He's going to lead a group that could reshape the PGA Tour's competitive model, and he is now part of this board to help reshape PGA Tour events.

How much of an impact do you think that will have on the upcoming season with the with the draw, the tournament and beyond.

That's a good question.

I mean, doesn't Tiger Woods have his own relationship to the Trump family?

Well that, yeah, that's another love connection story.

Can they in terms of golfing in general?

Though?

In terms of the PGA tournament itself, what is it going to take for the PGA too, because right now they are trying to compete with all this money sounding money.

What is it going to take for them to say, hey, you know what, we let's stop this, let's all get along.

What's it going to take?

Well, we know that it's something that Trump cares about personally.

Obviously, golf.

Golf is huge to Trump.

He loves he loves golf and it's a big part of his business.

And and he has weighed in on wanting on wanting some kind of resolution between this PGA Tour and live standoff.

So maybe that's one of the peacemaking, you know, endeavors he'd be interested in.

Who knows, one of the things.

I mean, Trump became a big supporter of Live after he was out of office, after he was out of his first term.

So now that he's back in office, has there bring criticism about him supporting this league still with all this Saudi back money.

Yes, I mean there's been renewed scrutiny of these relationships absolutely since he's been in office.

So since that is Saudi money, he's back actively in office this year.

You know, even though LIV had hosted events at Trump properties for several years running after he left office, this year was the first time that Live hosted at a Trump property while he was sitting president, and that makes a difference, and so that did re up critiques and questions about about the relationship there.

I mean, effectively, you have a golf tournament that's financed by Saudi su for wealth fund coming and bringing in that attention and that business to a Trump property.

So it's only one of it's only one of many of these connections that are really better in the spotlight in his second term.

Our thanks to Bloomberg News Wealth reporting any massive for joining us.

Up.

Next, we stick with golf and turn to a tournament that raises money and awareness for military families and first responders for Vanessa Bernomo.

I'm Michael Barr.

You're listening to the Bloomberg Business of Sports Bloomberg Radio around the world.

This is Bloomberg Business of Sports from Bloomberg Radio.

Thanks for joining us on the Bloomberg Business of Sports, where we explore the big money issues in the world of sports.

Michael Barr, along with Vanessa Perdomo Damien Sassauur off this week.

The Big Daddy Celebrity Classic as an annual event that partners with Tunnels to Towers to raise money and awareness for military families and first responders, bringing together celebrities, athletes, and more for that cause.

This year's tournament was earlier this month, and here now to talk about it is Big Daddy himself for the Big Daddy Celebrity Golf Classic founder Rich Salgado.

Rich is also a founder and CEO at Coastal Advisors.

Rich, thank you and welcome to the Bloomberg Business of Sports.

I'm glad to be here.

Thank you.

Well, now there's a lot to talk about here because you are the I don't know, let me start this way.

You are the founder of the Big Daddy Celebrity Golf Classic.

It was held this past Monday.

Yes, and tell us more about that and what that's all about.

Well it you know, we did leave out that my co founder host is Angelika stein Olsen, so let me make sure I get that straight or else, you know, I'll get I'll get reminded.

But anyway, wrist right, Yeah, yeah, yeah, uh So we partnered up with Tunnel to Towers and Great Foundation.

I mean, you know, Frank Siller is, as I say, even though he fights it, you know, he's an American hero, you know, for what he's done his brother who tragically died on that day.

He's in a here, he's in another American hero, and they just go out of their way to make sure that they save you know, lives and families.

You know, when you have these first responders and these former soldiers that you know tragically pass away, and you know, he's paying off mortgages and setting up families for the future.

And that whole thing caught me like boom, you know, and being a New Yorker just made me feel like I had to be a part of it.

So Angelic and I just jumped in and said, let's do it.

So tell us more about the partnership.

How the golf tournament worked with Tunnels of Towers and how it benefited each other.

Well, you know, just to have that brand, I mean, be affiliated with them and you know, be an ambassador to that foundation is you know.

You dream about it.

I guess if that's the way to put it, because you know, you don't wake up one day and say, hey, I'm gonna raise money and who am I doing it for.

You know, it's just got it's got to make sense.

I mean, you know, one of the things that's really really fascinating is that ninety three to ninety five percent of every dollar that they've raised goes to the charity.

I mean, that's unheard of.

You know, you can look up their books, you can look at their numbers.

There's no lying it is.

It's as plain as day.

So that really also, you know, motivated me to open up my rolodex and go out to my friends and get you know, these big companies to sponsor and write checks and show up for the golfounding and also for the evening Gala.

And one of the biggest things that you are also connected with is ensuring athletes, which is something that's a hard thing to do because we see it all the time, every day, whether it's football, whether it's baseball, whether it's hockey, and just go on, there's always a major injury.

How do you assess as a business model trying to ensure an athlete.

Well, you know there's as you said, there's all different marketplaces.

You know, you have the four sports and everything is based like I'll tell an athlete, Look, this is not an event.

It's a process.

I've been doing this for thirty years.

And you know it's not just ensuring athletes for being on the field and off the field.

It's also protecting them, you know, with life insurance, estate planning.

I mean, now it's even getting more technical with this nil.

You know, you've got kids that are making more money than rookies in the NFL for instance, in college, and I know because I've already started working on some of them.

And when you see these numbers, you're just like, you know, most of these kids in college won't ever see that type of money, and these guys are getting it as freshmen to come to a school.

So that's why I think when you you you hear about the president now saying this something has to be done because you got you know, this is getting out of hand because it's you know, it's who outbids who.

You know.

Let's say you go to school A and you don't play well, you know what, I'm out of here.

I'm gonna go get money at school B.

You know, it's just gonna And it's really that's where this is heading right now.

But to get back to your question, I think because you know, we are firm is nameworthy, has been recognized all over the place nationally and people know, you know, like I go to I just did a couple of team visits and it's you know, at the NFL camps and you know, everyone's like, who's that, Who's that?

And then it's like, you know, big daddy, Big daddy, Big daddy.

And it comes from all the way at the top to the bottom.

I mean, it goes from a head coach to an assistant coach, to a general manager, even to the equipment manager.

They know who I am and I get in front of people and I don't hard sell anybody.

I explain, Look, I'm here to help you, I'm here to protect you.

I'm not here to ask you for your money.

I'm not here to ask you for your family or your autograph or any of those things.

I'm here to show you why our firm is a leader in this business.

So when you go to camps, that's mainly what you're going there for.

I know you've been around the league for a long time, so when you're at those it's really for your business perspective to be there for the athletes you already protect and to talk to new athletes or are there other roles you play within your relationships with the NFL.

To answer your you answered the question, it's I'm there to see current existing and meet new ones.

And then you know, we were joking around yesterday with one of the guys that I was with and I said that there's some clients that i've been short for six seven years I never met, you know, uh, And one of those was Troy Polamalo.

Right, So I go to a college Hall of Fame dinner and I said, hey, Troy, and my name is And I was kind of like I threw them off because I said, hey, I'm rich Salgato.

Nice to meet you.

And he's like, oh, hey, nice to meet you.

You guys you having fun blah blah.

I said, yeah, you know, I got a couple of clients here.

You know that I'm here to see And he said, uh, oh, well like who And I said, well, I'm big daddy, and he was like what.

He actually did insure?

You know, it was funny to get the look that I got from him, and then like we hugged and he was like, hey, man, you know, thank you for because you get referred by agents, financial people.

You know, I have the luxury of doing so much interviews like these that get us out there and people watch and hear and listen.

Then you get parents that call you.

I had one time a client the wife called me and that and she set it up.

And you know, our business, you know, it's grown.

Uh.

You know, I'm here in New York, so I am a New Yorker and uh but I have a partner.

His name is Chris Muro and he we have an office in Boca.

So we've really expanded our reach and uh again, we're just here to do the right thing for everybody.

One of the things I wanted to get back to that you brought up earlier was the nil aspect of it and how you're working with those players, because you said they're making a lot more money than they've ever.

I mean they're freshmen, they're kids, they're eighteen years old.

How they're going to understand.

And what we've seen also in that space is some of these contracts not going through.

Kids going to schools and not getting the money that they were guaranteed or they were supposed to get.

Is that what you're helping them with guaranteeing those contracts.

Or no, well it's become twofold like this.

Two years ago, you weren't able to ensure the the amount of money that the school was giving out.

So for instance, of your university X, and you give me a million, you want to ensure that million.

They weren't doing that.

They were only going up to like two point fifty.

Now they're doing the school is able to ensure the money because if a kid, if I take the million from you and I pull ship, jump ship, or get hurt, well you don't want to be out a million bucks.

So you know, here's the insurance to cover that.

So you're working with the schools.

Yeah, I'm starting to work with the schools.

I was just made a school.

Visit about a week ago, and then you have these kids where so I told the young man, I said, listen, you know you're getting this money.

That's great, but you better get an accountant because remember, if they give you a million dollars, you're not able to spend that whole million.

You got to put this thing, you know, set up an LLC, do something to protect yourself so you can pay yourself and have you know, your tax stuff in place, and nobody comes after you, because if you spend that whole million, how are you going to pay the tax?

You can't, you know, not unless you have some money that I'm not aware of.

And then the old way or the past way of getting insurance for college kids was, you know, you would go you would come to me, and you would go to an underwriter.

You didn't have the money to pay.

The NCAA had a lending arm and they paid it and then they paid the premium back to the lender when.

They got out of school.

Well, now that these guys are getting you know, half million, a million dollars, the kids paying the premium direct.

And I said, that's a benefit to you because if someone else pays for it and you collect on the benefit, you get taxed on that benefit because someone else wrote the check.

Rich Big Danny Sogano.

Man.

See, every time I come in this booth, I always have a guess that just makes me smarter.

And you just made me smarter ten times fold.

Well, listen, I will be the first one to tell you that I'm not the smartest guy on the planet.

That's why I have a great partner and Chris, and you know, he came up with something and I'll make you guy's laugh real quick.

You know a lot of people say to me, Hey, am I big enough to work with you?

And I'm like, well, what does that mean?

Like you have to be way.

More than me or taller than me?

What does that mean?

And everybody gets like, you guys are laughing?

Right, So my partner came up with something called my termlife dot ai okay, and we turned this into a fun thing because we let everyone go on there, and everyone who's listening and watching and whatnot should go on there.

And we got tickets to the Jets home opener and the Giants home opener, and I let everyone sign up for it, and we're gonna have you know, what's the word, We'll pick a winner for both games and at the same time, at no cost, you can look up insurance for yourself and see what it costs.

So we you know, we we obviously take care of two things.

At one one, you know, one screen real quickly.

I know we're out of time, but you know, I'm gonna ask this.

Jets are giants, man, how far are they going to go?

I like both and I have a vested interest in both, so I've got to be politically correct, so I love both teams.

We thanks to Rich Big Daddy Selgatto for joining us.

He's founder and CEO at Coastal Advisors and founder or the Big Daddy Celebrity Golf Classic.

That does it for this edition of The Bloomberg Business of Sports.

For Vanessa Perdomo, I'm Michael Barr.

Tune in again next week for the latest on the stories moving big old money in the world of sports, and don't forget to catch our podcast on all your podcast platforms.

You're listening to The Bloomberg Business of Sports from Bloomberger Radio around the world.