Latest / The Lunch Rush with Trent Condon / Big 12 & Private Equity, Matt Postins talks BIg 12, Matt Rudy on the demise of LIV Golf

Transcript

Big 12 & Private Equity, Matt Postins talks BIg 12, Matt Rudy on the demise of LIV Golf · The Lunch Rush with Trent Condon

0:09
Hi, good afternoon. Welcome, Miller and Condon on a
0:12
Thursday. The Iowa Sports Radio Network
0:15
Trenton can back at it for the next couple of hours.
0:17
Thanks. You're starting your afternoon
0:19
with us. Wherever you are, wherever
0:21
you're listening, however you're listening on Des Moines sports
0:23
station One O 6.3 KXNO, the affiliates throughout the state
0:27
or in the iheart app anywhere, anytime.
0:29
Here's what's coming up on our program with the news that
0:34
there's an influx of cash coming to the Big 12.
0:37
It's certainly above trends in my page.
0:38
Great. But we'll talk about the the Red
0:43
Bird capital interest in the in the Big 12 as that strategic
0:49
partnership is set to be put into place.
0:51
And Matt Postons is going to join us.
0:53
We'll pick his brain on that. Obviously the Soresby news will
0:56
get his thoughts on that at Texas.
0:58
So what's going on at Texas Tech?
1:00
So Matt Postons is up first. We got another Matt that will
1:03
follow him in here. It's Matt Rudy with the with the
1:06
news that Liv is going away. Our guy Matt Rudy from long time
1:10
decades golf writer at Golf Digest will join us.
1:13
We'll kind of get to what he's heard behind the scenes, how
1:16
they're going to if they're going to welcome back some of
1:20
the bigger names and what it means for some of the guys that
1:23
quite honestly took a paycheck and now may find themselves
1:26
having to certainly drop down a level or two before they a door
1:31
potentially opens at some point to get back on the PGA Tour.
1:35
So that's our number one, our number 2.
1:38
We're going to talk to Rob Doster field of 68.
1:40
With the expansion of the NCAA tournament, boy, the push back
1:43
from a lot of basketball, national basketball writers.
1:47
I, I don't understand it, but they are dead set against this
1:50
thing, going to dilute the regular season.
1:52
Yeah. Come talk to me at 11:20 on
1:54
Thursday of the opening weekend of the tournament.
1:56
We'll still see if you feel the same way.
1:58
I don't think you will, but I could be wrong.
2:00
So we will talk to Rob Doster at 1:00 and then Dick Girardi,
2:07
who's covered decades worth of Kentucky derbies.
2:09
He will join us, get his thoughts on the Run for the
2:12
Roses coming up on Saturday just before 6:00.
2:16
You can watch and wager Prairie Meadows if you're so inclined
2:19
and be a lot of people come on out, give it a try.
2:23
Live racing one race beforehand, then picks it up after the card.
2:26
How are you, Trent Condon? I'm doing well.
2:28
How about yourself? I'm good.
2:29
Good. Hockey was fun last night.
2:31
Basketball was OK. I spent more time watching the
2:34
puck. Now I didn't see the end of the
2:35
Golden Knights game. I did.
2:36
Did you? I was up.
2:38
Tied it up late in regulation and it left Utah.
2:42
Utah you. Had him, You had him.
2:44
You had a mammoth ticket last night.
2:46
You were swearing at your TV, or at least that was happening at
2:49
the Condon house. Oh, you were on the Mammoth last
2:51
night and did when it went to overtime, Did you think this is
2:54
going to end? Wasn't it cheapy by any means?
2:57
It was a shorthanded goal. Don't see that very often.
2:59
Hey, you don't see guys taking penalties or refs calling
3:03
penalties in overtime very often in the playoffs.
3:06
But and then to see a Shorty for the game winner.
3:10
So Vegas Golden Knights put one in the win column.
3:14
So we'll talk about that. Look forward to that.
3:16
There is some news of pursuant other news pursuant to college
3:19
basketball that will pick Doster's brain on Amazon is now
3:22
throwing their hat into the broadcasting ring.
3:25
Just when you thought maybe you got enough apps right.
3:27
You know, maybe I won't need to get to to watch one of my
3:30
favorite sports. It's Duke.
3:32
So it's not like, you know, everybody's going to be knocking
3:36
each other over to download the Amazon Apple.
3:38
I've already have it. I get that.
3:40
But Duke is going to show 3, quote, marquee games is what
3:43
Amazon has bought. I don't know what that means.
3:48
Would the ACC or ESPN just get out of the way?
3:50
Yeah, go ahead, take North Carolina, Duke.
3:52
These are neutral court games. So those are the neutral court
3:55
and there's pretty big opponents.
3:57
They absolutely are and. Gonzaga, Michigan.
4:01
And one more and one more. Yeah, this is what we saw a year
4:04
ago with the Michigan Duke game. And I think they saw the success
4:07
of that and understanding, but now taking it under their own
4:10
umbrella because if it's a home game, that's under the
4:13
jurisdiction of the ACC and the ESPN partnership that they have.
4:17
They're not going to give that one up.
4:19
But you go neutral court, you're able to do this.
4:22
Now we've seen in the past like when Iowa played at Wells Fargo
4:25
Arena, now the KC Center that those games were on BTN.
4:29
You remember there are a couple of years where we had the two
4:31
different, the BIG4 where obviously the Iowa game would be
4:35
on BTN, but the Iowa State whatever game drinker you and I
4:39
would not be. And that was an Internet only a
4:42
fair what one year wasn't? I don't remember that part of
4:46
it, but regardless, it comes down neutral court.
4:48
They got to find out their own TV and now Duke took that idea
4:52
and ran with it. They're not going to be alone,
4:55
are they? No who owns the players era?
4:57
Aren't aren't those rights up? Forbid but.
4:59
They're trying to get money. That thing, that thing's going
5:01
to be dead again. It might be but for the time
5:02
being it lives and but if Amazon gets involved, better likelihood
5:07
that it does survive or an entity like that.
5:10
Depends on how much money they. Get true, but I mean, look at
5:13
the brands that are at least going out there this year and
5:17
we'll we'll will the Maui tournament be like the PGA?
5:20
No, no, you guys left us we went to Vegas.
5:23
We don't need you. They'd be cutting off their nose
5:26
to spite their face. If that's the case, we'll see
5:29
where it goes. But it as we know it is changing
5:32
and it continues to evolve. So you and I, when it comes to
5:38
the, the influx of money, what do they call it?
5:40
Capital, influx of capital to the Big 12 private equity.
5:47
What do we make of this deal? I mean, there's a, if you take
5:50
the the 12 and a half million or the 10 million that each school
5:54
could potentially take right now, they're going to have to
5:58
pay back at some point this loan, because that's what it is.
6:04
That's what Redbird Capital is essentially loaning the league.
6:09
You don't have to take it if you don't want to take the money.
6:12
But for those schools that do, the private equity is building
6:16
on a 10% interest rate into that money.
6:19
And they're doing so based on 2031 television contracts, which
6:25
they believe and people in the college landscape believe is
6:30
going to be the game changer when it comes to when it comes
6:33
to television contracts. We heard initially when
6:38
universities conferences started to get involved with private
6:41
equity and at least the big trend first.
6:42
Maybe didn't cause didn't Michigan and I know Michigan
6:45
doesn't want it. I know.
6:47
Anyways, go on, you know. But they when they first got
6:50
involved, it was about getting a piece of these conferences,
6:53
getting a piece of that. That's not what this is.
6:56
As you stated, this is a loan, this is a loan.
7:00
What's a better partnership? What's a better one that just
7:03
strictly here's your cash, go do it.
7:05
Because one interesting angle, because at first I I just said,
7:08
well, this is a loan, this could be a problem.
7:09
Yeah, 10% interest. We know about the struggles just
7:13
Northwest and Apes and the financial reality that is
7:16
starting to hit the athletic department there.
7:18
And they're not alone. Go to Campbell is a white whale.
7:21
You know, there are not many of them in the Big 12 and even
7:25
places that have had certainly financial success And what T
7:27
Boone Pickens did. Yeah, at Oklahoma State, we've
7:30
seen plenty of good things. I mean, Kansas has been paying
7:32
guys allegedly for decades. Larry Brown, I'm sure he was.
7:37
Everything up and up, up and up. Yeah, you know that all the
7:39
time. That aside, now you go to this
7:43
level. The one interesting component
7:45
though, that at least got my wheels turning a little bit, is
7:48
that the money that is going to be given to the conference. 12.5
7:53
million. They're going to use that to aid
7:57
with revenue generation, including investing in other
8:01
companies. I have a difficult time wrapping
8:04
my mind around that what that means, but at minimum OK.
8:09
So they're going to play the stock market.
8:11
Type possibly I guess it is that what it is you're putting it in
8:15
some kind of fun that you think is going to be an annuity and
8:17
you're just going to make money on that money I.
8:18
Guess that would be it, right? Is it creating new content?
8:22
It is a creating new company. I don't know exactly what it
8:26
means, kind of reading between the lines about that, but a
8:29
minimum, it felt a little bit better than it did on the
8:32
surface for me, the first kind of run through, reading through
8:35
the headline and actually getting into the meat and bones
8:37
of it, it felt a little bit better of understanding, OK,
8:40
there is a possibility of turning this money and building
8:43
into more money because that's what they're going to need
8:46
because Iowa State's not alone in the Big 12.
8:49
No, no, there's there's other schools that are in the same
8:51
boat as them. And it's not just an Iowa State
8:53
Big 12 thing. It's an ACC thing in some
8:56
schools and and trickling on down the line.
8:59
Do you think Iowa State will take the money?
9:01
Apparently there are three schools in the Big 12/3 of is
9:05
there 16 or 18? I lose track 3 of 16.
9:08
Three of 16 are interested in taking that money and using it
9:13
for whatever they need it for now and again, with the I guess
9:20
you could pay it back as you go. But 2031 is why this red bird
9:25
capital is, you know, throwing their money behind it because
9:28
that's when they believe that they will get their get their
9:32
return on investment. I don't know when I when I saw
9:35
the peace trend, I didn't want to click on it because it's way
9:37
over the tips of my skis. And then I, I read it because I
9:41
knew it it would come up on the show today.
9:42
And I was kind of more confused because this is just over.
9:45
I mean, I don't know these things, I'll be the first to
9:47
admit. The the list, this is a list
9:51
from a year ago in terms of value of programs.
9:54
Well, that doesn't really tell us the whole story.
9:56
I'm trying to find the actual revenues.
9:58
I clicked on the the wrong thing and the revenues and and how
10:01
much money is coming in for these athletic departments and,
10:04
and what they have estimated revenue sharing.
10:06
Now that's also I don't think helps very much.
10:09
Football gets 66% of the share. Yeah, We know that operating
10:13
budget and maybe this will help a little bit.
10:15
The operating budgets here in the Big 12, this is every school
10:18
listed, yes. Even BYU, No, but Baylor is in
10:23
there. TCU is in there.
10:24
A couple of private schools, by the way, Jerome, BYU is in
10:27
there, yes. Are they Jerome Tang to Baylor
10:29
as an assistant for Drew? Do you see that?
10:30
Yeah, that associate, yeah, I think a lot of people
10:33
anticipated the place that he had a lot of success and maybe
10:36
Scott True could use it. That's what I'm wondering.
10:37
Or. Maybe in this new environment
10:40
where everybody's paying, it's all pretty different all of a
10:42
sudden for Baylor, along with Kansas.
10:44
Interesting how that happens. From the fiscal year of 2024,
10:48
Kansas had the most expenses. Here's the funky part, too.
10:52
Is it their new stadium? Absolutely.
10:55
I don't think there's any doubt about it.
10:56
They're going through renovation because expenses for something
10:59
like that are going to be a whole lot more.
11:00
So you have to, again, read between the lines a little bit.
11:04
Baylor second TCU, Arizona, Colorado, Oklahoma State,
11:09
Arizona State, BYU, Texas Tech. There's your.
11:12
What about top ten, Bottom though?
11:14
Your bottom 5 and. This is this is athletic
11:18
budgets, this is. Operating expenses.
11:20
Operating expenses, OK. Iowa State, Houston, Central
11:24
Florida, Cincinnati, K State at the bottom.
11:28
And how much did they spend? Does it say how much a?
11:31
$100 billion for Iowa State Houston 98,000,090 for UCF 89
11:35
Cincinnati 87 for KC. So remove Kansas and what would
11:39
the what would the the the school under Kansas, what was
11:42
their operating expenses? 148 for.
11:45
So it's not significantly. I mean, it's pretty good chunks,
11:49
50% more than than Iowa State really.
11:53
What are they spending their money on?
11:54
I have no idea. And if, who knows, they might be
11:57
going through a renovation, they might be going building a new
11:59
athletic complex. That's the part of it.
12:01
When you get into the expenses that are there, it's just one of
12:04
the many angles of college athletics.
12:06
But I think if you talk about the three schools, most likely
12:11
the newbies, Central Florida, Cincinnati.
12:13
I would think 2 commuter. Schools, though, big
12:16
universities and Central Florida is one of the biggest in the
12:18
country. But building up those athletic
12:21
departments, getting to Big 12 levels, getting to power 4
12:24
levels, I think those would make a whole lot of sense.
12:27
Houston, probably the same kind of thing.
12:29
They got the Fatita money, but still.
12:30
That's huge money. It is huge money still when you
12:34
look at them in other computer commuter school, but Iowa State
12:37
at minimum has to be on the shortlist, right?
12:39
I guess. But you know what?
12:41
I hope they don't. I hope they don't have to go.
12:43
That's got to be a last resort for any of them, right?
12:46
I, I don't, I know that the, the article that I read, all of the
12:51
schools have a year to make up their mind.
12:54
They get a year so they don't have to decide in the next
12:57
couple of weeks. You want the dough.
12:58
If it's not don't take it in the next couple of weeks is not
13:00
going to be there. They've got a year to make that
13:02
commitment. Well, hopefully Matt Poston will
13:05
help us out more on this on the private equity investment, what
13:08
it means how many other conferences are going to go down
13:10
this road? Is it truly a last resort?
13:13
I mean, 10% is the interest that they're going to be paying on
13:15
this dough. And I don't know if that I'm
13:18
guessing it's compound interest, right, right.
13:21
Well, we'll see where it goes. I have a answer to something
13:26
that you kind of pondered the number of people that have
13:29
Amazon Prime. So I just, it's got to be
13:31
massive at this point. I think this puts this in pretty
13:35
good context. We know DIRECTV though we're
13:36
both still subscribers 'cause we're old men.
13:39
We that is something that has certainly evolved.
13:42
And what has it gone from? Any idea what DIRECTV peaked at
13:46
and where it is today? I would love to know.
13:49
You know in its heyday when the NFL Sunday Ticket was an
13:52
exclusive on DIRECTV, if you're an NFL fan, you had to have DTV.
13:57
The I would love to know what it peeked at and where it's at now.
14:00
Once boasting over 20 million subscribers a little over a
14:04
decade ago, it is now down to 11,000,000.
14:07
So almost cut in half. But still 11,000,001 of the
14:10
still the bigger operators that are out there with DIRECTV at
14:14
11,000,000, how many people have Amazon Prime?
14:17
More, more. You're absolutely right.
14:20
As of 2024, and I'm going to guess this number has increased
14:23
since then, 180 million users, including Prime Video, a key
14:31
component worldwide, over 210 million users.
14:34
That was as 2023 for Amazon Prime.
14:37
So they're doing pretty well worldwide.
14:39
Yeah, that number, this is from Genie.
14:41
Bezos owned this whole thing too.
14:43
Oh yeah, the whole. So he's not only the blue trucks
14:46
that are driving everywhere. Yes, yeah, it's all under the.
14:48
Color. How about them showing up at
14:49
your doorstep on a Sunday night? You love that.
14:52
That's unbelievable. We need to stop her for our
14:54
bathtub. They make a special trip.
14:56
It was $1.99, right? And here they are.
14:59
Ding Dong Sunday night you could have waited till morning.
15:03
The the turn around time can be incredible and things too, just
15:05
how quickly it's amazing. It really is where we have a
15:09
softball tournament. Ella's belt breaks or do we want
15:13
to run out to Shields? And it's it's Saturday evening
15:16
and I think it closes early on, you know, do something like
15:18
that. Guess what?
15:20
We'll have it on our doorstep tomorrow morning.
15:22
At the latest. It's unthinkable, right?
15:24
You order something at 8:00 and it's there the next morning for
15:26
you. It is a different world.
15:28
And he's. You ever watch any of those
15:30
porch pirate videos by the way on X?
15:33
I've seen they're rigged. They're they're it's a you're
15:35
not. I'm not.
15:36
I wanted to buy it in the worst way.
15:38
I sat one night just laughed my you know what off and all these
15:41
packages explode. Yes, Yeah, they get in the car
15:44
and but you know what it it it got to me when they get out of
15:47
the car and they come back to the ring, whatever it is
15:50
doorbell. Yeah, it's fake.
15:52
I wish it was. I wished it was true.
15:55
I got such a kick out of those. That's a ton of people watching
15:58
that trend. I had no idea it was that many.
16:00
Definitely good news for the Dukes of the world and the
16:03
people that. Are so if you is it is it?
16:06
I get Amazon but I don't know do I pay more because I get sports
16:10
I have. To right.
16:11
No, it's part of your Amazon, part of everything.
16:13
If you have Amazon Prime, that is part of your subscription
16:17
that you get Prime Video that goes along with it.
16:20
Now how many people don't even realize that?
16:22
Oh, I bet a lot. I remember we had this
16:24
conversation back when the NFL was moving to Thursday Night
16:28
Football on Amazon. I'm hearing from people, I
16:32
didn't even realize that was a part of it.
16:34
Yeah. You've had this probably at this
16:35
point for years. I didn't know.
16:37
And so many people just don't even realize.
16:39
Yeah, that's part of it. It's not an add on.
16:42
It's not an extra subscription. You just put in your all your
16:45
credentials and away you go with Amazon Prime Video and now you
16:48
can watch the NFL. Yeah.
16:49
And it's going to be more and more.
16:51
Indeed it is. And yeah, well, we'll see.
16:53
Duke basketball. Where's it going to stop?
16:54
Are they going to get involved in football?
16:56
Is this the is this the next influx of cash when it comes to
17:00
these contracts? Again, people in in the college
17:03
landscape, they have Circle 2031 as a date that's going to change
17:08
college sports. So we'll see.
17:09
We'll see if that means that the money's go up, the money's going
17:11
to go down. Who knows where we're going to
17:14
be? We know we're going to talk to
17:15
Matt Poston's coming up. Matt Rudy on the demise of Liv.
17:19
Do you remember when Liv started?
17:21
I do. They're flying caddies, first
17:23
class, nothing but money rolling out the red carpet.
17:28
These guys get to play in their shorts.
17:29
They only have to play 3 rounds of golf.
17:32
The the joining fee, the bonus that they got, the signing bonus
17:36
for some of the big names. I mean Tiger, didn't he turn
17:38
down 100 million? Wasn't like the number.
17:40
Yeah, seems about right. And I told you from the get go,
17:42
it's not going to work. Yeah, it didn't.
17:44
I got that one right. Yeah, you did.
17:45
And I hated it and I hated where the money came from.
17:48
I hated everything about it. I hated what it was doing to the
17:51
PGA Tour. It has pushed the PGA in.
17:54
Some better direction positive, I agree.
17:56
Yes, but overall this has been a net negative for them and very
18:01
happy that this has failed. Do you think it's a good idea to
18:06
punish De Shambo and ROM? What's the guy everybody hates?
18:14
Reed. Patrick Reed.
18:16
Yes, absolutely. Do you think it's a good idea?
18:18
Yeah. You are working for the inside
18:19
to try to take down the tour. Absolutely there is penalty, but
18:22
isn't your league better? When you're, when these guys are
18:24
in it. Maybe there still needs to be a
18:26
penalty. What do you want?
18:28
What do you? What do you want other than a
18:30
pound of flesh? That's what I want.
18:32
That's all I want. Uh huh.
18:33
I've maybe take a little money into the coffers that that's not
18:37
going to happen so. Suspend them till for the rest
18:39
of the year. Sure.
18:40
Yeah, figure it out. You took the money, now figure
18:43
it out on your own. You're still.
18:45
Pay a fine to come back. That that's not a bad idea.
18:48
And if you pay if the fine is X, you can come back this this
18:51
month if you find. Sounds like how a lot of
18:54
business is done these days. Devin, welcome to the program.
18:56
Devin, what's on your mind? Gentlemen, happy Thursday.
19:00
I want to talk a little NFL real quick and you guys.
19:03
Twist my arm. You guys know I'm a fan of the
19:07
2027 Super Bowl champion Dallas Cowboys.
19:09
I. Think I got this?
19:11
Hang on a second. Why 20 No 27?
19:13
That's when they played OK after the 26 season.
19:16
Yep, Yep, Yep. Yep.
19:17
So there's a bit of information I got.
19:19
So they acquired Marquez Valdez Scantling the other day on one
19:22
year deal. Nice veteran presence, right in
19:24
depth and. I think he's watching.
19:27
He won't be washed after I give you this information, Kenny,
19:29
because I know we're all future betters on this amazing show.
19:32
So let me interest you in this. And Marquez Valdes Scantling was
19:36
on the Packers in 2020 when Aaron Rodgers won MVP 20/22, He
19:40
was on the Chiefs when Patrick Mahomes won MVP, and 2024 who's
19:44
with the Bills when Josh Allen won MVP.
19:47
So if this trend continues, Kenny, can I interest you in
19:50
Deck Prescott for MVP at Plus 1300?
19:53
Why not? He probably already has it.
19:54
I well, I've got the Cowboys at 80 to 1, I think to win the
19:57
Super Bowl because they're a big.
19:58
Big price. What I'd like to hear Kenny.
20:00
See, I'm not the only one here. I do it every year.
20:02
No, I like them, really. Will catch it.
20:04
Absolutely. Giants are down.
20:06
Eagles, Washington. We shall see.
20:09
Devin, I like your squad. I like your team's draft a lot.
20:12
So did I. I was screaming with joy when
20:14
they got Caleb Downs. It was either him or David
20:16
Bailey, one of those. We got the one I wanted first.
20:19
That's awesome. Good stuff.
20:20
Thank you, Devin. Appreciate.
20:21
Good luck to your squad this year.
20:22
Good to hear. From you 13 to 1 Dak to win MV.
20:25
That's what he is, Yeah. It's not a bad.
20:27
It's not an awful bad Trent. But I made worse.
20:31
So you don't like it by sounds and things?
20:33
I don't think I'm going to be jumping aboard on that one.
20:36
Who do you like is Dak this year?
20:37
Oh boy, he's got to be early 30s thirty one.
20:42
Jack Prescott, born July of 93. He'll be turning 33 in late July
20:49
as camp is continuing with the Cowboys.
20:54
Do we know who's going to be on the Hard Knocks?
20:56
Yes, we do. I don't remember who it is.
20:59
I think so do we. 2026 team is a Seahawks, Yes.
21:05
The defending champions, absolutely.
21:08
I thought you couldn't have a playoff team.
21:09
Oh, they changed that. They've changed.
21:11
Well, you know why they had to, Trent?
21:12
Because it used to be appointment TV for both of us,
21:15
right? Oh yeah, not as much as it's as
21:18
recent years. Debut August 11th.
21:22
You'll be locked in. I'm on a plane that day.
21:25
Oh, you are? I think so.
21:27
I think I am. I think I'm heading West.
21:30
Some details about that retirement.
21:33
Kenny joining us. But we'll take a time out.
21:35
We're going to talk on the other side.
21:36
We're going to get Matt Postons in here, Matt Rudy coming up.
21:40
We're going to talk a little bit of golf.
21:41
Look forward to that. I wonder what he thinks the
21:43
punishment should be or if he does think that there should be
21:45
a punishment that should follow. We'll we'll talk to him about
21:49
that. Look forward to it.
21:51
All right, let's get Mike in Waterloo before we go to break.
21:55
So I'm guessing Mike wants to talk about one or two things.
21:58
Iowa State. Yes.
22:00
Or his White Sox. What's on your mind today, Mike?
22:03
Well, you know what? I'm going to talk about the
22:06
Whites, all right? You know, Murakami, the Japanese
22:09
superstar, tear up his contract right now and give him five
22:14
years, over $100 million. I know Jerry don't like to do
22:18
that, but the guy's a superstar. I've been watching him all all
22:22
year. He hits the ball as far as
22:25
anybody. Plus he's got a great eye at the
22:27
plate. And I think the future is right
22:30
now for the White Sox because these young guys are coming on
22:34
and did you know they get the first, first draft choice of the
22:37
draft coming up and they're going to take that short stuff
22:40
from UCLA. I didn't know who they were
22:42
taking, but I do know they have the first pick in the draft.
22:45
So what do you guys think their future looks?
22:47
My bet with my sister looks pretty good.
22:49
We caught the twins already trans.
22:52
That's not tough to do. They suck and and honestly your
22:55
pitching rotation is awful. They have so much work still to
22:58
do with both the rotation and the bullpen.
23:02
Very good. But you know what?
23:03
The starting pitching has been pretty good this year.
23:05
Do you sell high if somebody comes from Murakami knowing that
23:09
you're a few years away? Oh, oh, oh, you mean somebody
23:14
trade him. Oh no, we can't trade him.
23:17
Superstar. I agree he's a good pitch off to
23:20
a great start, no doubt. And he's only 26 years.
23:22
Old thank you, Mike. Good to hear from you.
23:24
All right, Matt Post is next. Miller and Condom before we go
23:26
to break time to give you a chance to win $1000 in this
23:29
nationwide contest, head to kxno.com.
23:32
The keyword this hour is familyfamily@kxno.com.
23:36
Your chance to win $1000, family@kxno.com or whatever your
23:41
station's website is. Miller and Condon back with Matt
23:43
Poston's on the Iowa Sports Radio Network.
23:47
Hi, 1230. Miller and Condon, welcome back.
23:49
Iowa Sports Radio Network. Matt Poston's on the Big 12
23:54
right now. Matt Rudy on the demise of live
23:57
in 15 minutes. Let's talk to Matt Postons
24:00
heartland college sports. He's there for us when we need
24:03
to talk Big 12 and private equity.
24:05
And some of these stories are way past trend to my pay grade.
24:08
Matt Postons, we're counting on you.
24:11
Before we do that, let's just do do Sarsby real quick and where
24:15
what's going on with the Texas Tech?
24:17
This seems like a a story that's not going to end well for the
24:20
Red Raiders as far as having Soars be under center this year.
24:24
When you bet on your own team, whether he played or not, that
24:27
seems like it's the the death penalty for the player.
24:30
That seems like where it's going to be headed with Soresby.
24:33
A Does that does that concur with your reporting?
24:36
And then ready or not, will Hammond?
24:38
Well, you better be ready, Will. Hammond yeah, I I think that's
24:42
probably where this is going. You know, the the NCAA has made
24:45
a pretty clear line that if you bet on your own team, regardless
24:49
of where you are, you're probably not going to play
24:51
again. And I think that's where this is
24:53
going. Will Hammond, it sounds like he
24:56
could be ready to go by the Houston game, which is that game
25:00
that's going to be on Friday night.
25:01
Remember, he tore his ACL last year.
25:02
So he's still he is throwing from what I understand, but he's
25:07
still rehabbing that injury and and hopes to be ready in
25:09
September. One thing that a lot of
25:12
reporting has pointed out that while the transfer portal is
25:14
closed, and certainly there are huge penalties that Tech would
25:18
have to absorb if they tried to go, you know, poach a
25:20
quarterback from A Division One team, the Division 2 transfer
25:23
portal is still open. So there's an opportunity there.
25:26
If Tech finds a Division two quarterback that, you know, has
25:30
the kind of ability they need to run their offense, they could go
25:33
that route. But, you know, right now, if
25:36
you're Tech, you're planning as if Brendan Sarsby is not going
25:38
to be on your team, Somebody's going to have to take those reps
25:41
in Week 1 and Week 2. And then hopefully Wolham it is
25:45
ready to go for the Houston game.
25:46
With what we know right now, do you think there's any way
25:49
Brendan Sarsby takes a snap with the Red Raiders?
25:52
I really don't unless he goes the route of, you know, filing
25:56
an injunction or filing some sort of legal suit that gets his
26:00
case put on pause. But then the problem for Tech is
26:03
if Sorsby loses and, you know, they deem him ineligible, then
26:08
Tech has to give all those wins back.
26:10
So it's kind of a lose, lose situation for Tech as far as
26:14
having him on the team and having him on the field.
26:16
So even if he does get an injunction, I don't see Texas
26:19
Tech starting them. I just don't see it at this
26:22
point. That's an excellent point, Matt.
26:24
I hadn't thought of that. Yeah, they could.
26:26
But ultimately they could end up giving everything back and that,
26:29
that that wouldn't be good. Well, we'll see.
26:32
Certainly an interesting story, to say the very least.
26:35
It's clear that, I mean, he's at a baseball game and he can't
26:39
take his eyes off his damn phone betting every single pitch.
26:42
And I'm not making fun of his illness.
26:44
And it is. And if any, I mean, if maybe
26:46
there's something good that comes out of this, right?
26:48
And I'm not being facetious here when I say, you know, 1800 bets
26:51
off. If anybody in our audience has a
26:53
problem, as Sorsby obviously did, my God, he's got a baseball
26:58
game in front of him and he can't take his eyes off his damn
27:01
phone. That's problematic.
27:02
So let's go to the story that just broke yesterday.
27:05
When it comes to the the influx of cash, the private equity firm
27:11
that's going to be a former partnership, Red Bird Capital,
27:15
is going to be willing to put up a pretty big, a pretty big
27:19
investment into the school should they want it and do so as
27:23
well with the conference to the tune of $12.5 million.
27:26
Apparently, Matt, I'm sure you've seen it, of the 16 teams
27:29
that are three, there are three that are, you know, kind of
27:33
leaning towards taking that money right now.
27:35
What does this mean in the grand scheme to you?
27:37
Is this a good thing or is this kind of a last resort from teams
27:40
that are trying to find money, even though ultimately knowing
27:43
that someday that they're going to have to pay that back?
27:48
Yeah, it feels more last resort ish.
27:50
You know, when your mark originally, you know, proposed
27:53
this in Vegas a couple of years ago, the idea was for a private
27:57
equity firm to actually get some potential ownership in the
28:00
conference or presidential influence over how the
28:03
conference was run. I think it was like, if you're
28:06
telling like a billion dollars in private equity money, the
28:09
president's didn't go for that, rightfully so.
28:11
And this feels like the happy media, you know, there's $500
28:15
million involved in this deal. Most of it is many made
28:18
available to schools. They can tap into it if they
28:21
want to. They don't have to do it right
28:22
now. They have a year to decide if
28:23
they want to do it. So it gives them time to figure
28:26
out if there's actually a need for that.
28:28
But Ross Dellinger at Yahoo reported that his sources told
28:33
him that as few as two or as many as 6 might take advantage
28:37
of this. And you're right, I don't know
28:39
what the framework is for paying this back.
28:41
I'm assuming since it's a five year deal that the money would
28:45
come out of the the revenue that the team, the school would get
28:49
from the Big 12 every year. So if you figure school A takes
28:52
30 million, uses it for whatever, they're going to end
28:55
up paying back about 6,000,000 a year over five years.
28:58
So you kind of have to decide if you need that money now or if
29:01
you're going to be OK down the line.
29:03
I mean, we're theoretically, we have a cap and an IL.
29:07
So if you're thinking about using that money as a bonus
29:09
structure for an IL, that's not necessarily going to work.
29:12
Do you need that money for infrastructure?
29:14
Maybe that works. You do you just want to take
29:17
that 30 million and stash it somewhere.
29:19
Maybe that works too. To me, I wrote about this
29:22
morning and I just, you know, I feel like the the bigger thing
29:26
here is that they're playing a longer game.
29:28
Not necessarily with the private equity money, but with the fact
29:32
that Redbird has a relationship with Paramount, which owns CBS,
29:36
which is about to own TNT. And the Big 12 will obviously be
29:39
looking for a new TV deal. I have to imagine that your Mark
29:43
wants more players at the table and may not want a primary
29:46
relationship with the ESPN down the line.
29:48
Interesting point. Yeah, the television angle makes
29:51
a whole lot of sense. And with the streamers first
29:54
continue to come aboard, we were talking earlier about Amazon
29:56
Prime, what they are doing and shelling out money.
29:59
That makes a whole lot of sense. The partners we saw the
30:01
relationship with TNT. By the way, the third Duke game
30:04
who couldn't come up with is Yukon.
30:05
That's so Yukon, Michigan and Gonzaga.
30:08
Not bad. Yes, get the rematch of the
30:10
Elite 8 game. That was so good.
30:12
One interesting angle to this that I'm struggling to wrap my
30:14
mind around with the private equity is there was something in
30:18
one of the reporting, I think it was from Front Office Sports,
30:20
talking about the Big 12, using that money to then generate
30:25
revenue in different ways. Have you been able to unearth
30:28
exactly kind of what that means and what it means for the Big 12
30:30
in terms of just putting in the stock market?
30:33
Or is it something else, creating a new industry, if you
30:35
will, to create new revenue? Well, part of this is they're
30:39
going to create a spin off entity that is going to help the
30:41
Big 12 manage, you know, some of this revenue generation.
30:47
It's, it's important to understand the Big 12 has
30:49
actually been partnered with Redbird for about a year and
30:51
Redbird has helped them actually generate about 100 million in
30:54
new revenue over the past couple of years.
30:57
So it's not as if them partnering with Redbird is a
31:00
brand new thing when the 12.5 million is there.
31:03
I think to help, I think they said it was to help modernize
31:06
Big 12 operations. So it's more about modernizing
31:10
their front office, so to speak, you know, preparing it to you
31:14
know, for what I guess they consider to be the next
31:15
generation of what a conference front office is going to be.
31:18
So part of this is red birds going to help them find new
31:21
streams of revenue to generate Venmo as a part of that, they
31:25
helped hook them up with Venmo last year as part of that
31:28
partnership. But part of this is also going
31:29
to be helping the modernize operations.
31:31
So you know when I when I hear that it's they are going to help
31:36
them look for more ways to generate, generate revenue.
31:39
And I would imagine you know, I haven't seen the whole structure
31:42
of the deal yet and it's important to know the conference
31:44
I don't think is thoroughly officially announced it.
31:47
I would assume Redbird would get a cut of that.
31:49
Whatever new revenue they help them generate, Redbird would get
31:52
a cut of that. Makes some sense.
31:54
My last thing for you, Matt Poston's Heartland College
31:56
Sports is our guest. Help me out with Kansas new
32:00
player Tyran Stokes, Number one player in the country.
32:03
I think he's a six. I think he's the wing 6768.
32:07
Any similarities to Peterson's game?
32:10
Darren Peterson, who's moving on to the NBA drafts?
32:13
Kansas gets the number one player to commit to them.
32:17
So good for Bill Self, good for the good for The Jayhawks.
32:20
What do you know about his game, Matt?
32:22
Yeah, I mean, he's, he is as talented as Darren Peterson and
32:26
frankly as as talented as AJ Devonson was when they came into
32:30
the conference. But he has the ability to come
32:33
in and make an impact immediately.
32:34
And it isn't just him. Bill Self is assembled A
32:38
recruiting class in which I believe all five players are in
32:40
the top 100 in the country. That's a pretty incredible group
32:44
of players to bring in. In a year where you've bled
32:48
experience in the transfer portal, you've lost Aaron
32:50
Peterson, you you don't really have a whole lot coming back.
32:54
So this is going to be a very new team that Bill Self is
32:58
putting together and Tyron Stokes is going to be a guy who
33:01
like Peterson is going to play right away, probably going to
33:04
play 30 to 35 minutes a game and has the potential to give them a
33:07
guy that can score, you know, 20 to 22 points a game.
33:11
I think the, the question with Kansas with all this new talent
33:14
is going to be, you know, can they play defense?
33:16
You know, this is a team that in recent years, they've always
33:20
looked good on paper defensively.
33:22
You know, their metrics have always been pretty solid, but
33:25
they they seem to have breakdowns in key moments that
33:27
keep them from, I think, you know, elevating from being a
33:31
really, really good team to being a great team.
33:34
I think the biggest challenge for Bill Salt this time around
33:36
is going to be getting these guys to play defenses cohesively
33:40
throughout a season to put them in a position where they're, you
33:43
know, A1 or A2 seed at the NCAA tournament as opposed to being a
33:46
5 or a 60, which is what they what they've been in the past
33:48
couple of years. Finishing up on basketball with
33:51
you, Matt, the Big 12, you look through the portal the way that
33:54
it's gone and it's just, it's so intense.
33:56
It's intense for us here on the local level.
33:58
Who would you put as a winner and a loser in the Big 12 in the
34:00
men's basketball side? What happened here in the
34:03
portal? Well, I would say, I think is a
34:05
clear winner. I mean, they got guys who fit
34:08
what they do very well. They went out and and just
34:13
secured guys that can shoot 3 pointers.
34:15
They've got some size coming in. They've got a really good
34:17
recruiting class coming in too. So if you think about, you know,
34:20
the old days where you, you want a 30 year roster to be
34:22
experienced, a 30 year roster to be Brit be new, a 30 year roster
34:27
to be going out. You know, TJ's doing it in a way
34:29
that I think really, you know, helps him create success year
34:33
over year. I was really impressed with what
34:36
they did in the portal. They did it quick.
34:37
They got the right guys. Just a really great job on their
34:41
part. As far as losers, you know, when
34:43
I when I think about where Colorado is, they've just bled
34:47
so much talent. They've got some talent coming
34:50
in, but you know, they, they just bled so much of their
34:53
really good players. DAC, Ranchic, some really good
34:57
players have gone on to other schools.
34:59
I'm not including the schools that have changed over coaches.
35:02
I don't think that's fair to those coaches in the first year
35:04
because so much talent turns over.
35:07
You know, the other school that I I kind of worry about a little
35:09
bit is West Virginia. They had a good year, but not a
35:12
great year. They've bled some guys in the
35:14
portal and they brought in some really talented guys I think can
35:18
make an impact for them. But you know, Hodge their their
35:21
second year coach right now and he's trying to build some
35:24
continuity and it's really hard to do that when you had a good
35:27
but not great year, you didn't make the NCAA tournament and a
35:31
lot of your team was imported from your previous institution,
35:34
North Texas. And a lot of those guys are out
35:36
the door now. Matt Poston's Heartland College
35:38
Sports. Heartland College Sports for all
35:40
the Big 12 content you could possibly need.
35:42
It's covered there with a good crew at Heartland College
35:46
Sports. Matt, thanks for doing this.
35:47
Appreciate it. We'll talk to you in the weeks
35:48
ahead. Thanks for what you do for us.
35:50
Appreciate it. Thanks guys.
35:52
Appreciate it. Good to talk.
35:53
To you, Matt Poston's Heartland College Sports as we check in on
35:56
the Big 12. Check in on the demise of Live
35:58
Next with Matt, Rudy, Miller and Condon on the Iowa Sports Radio
36:02
Network. Hi Miller Condon, welcome back.
36:10
Just about 12:45 on a Thursday. Rob Doster field of 68 coming up
36:18
to kick off our number two. Well, live golf coming to an end
36:21
at the end of the year. Our golf guy, Matt Rudy, our go
36:24
to guy when it comes to golf and he joins us.
36:26
Well. Brandel Chamblee's got to be
36:28
popping in a champagne somewhere today.
36:31
Seems like he was his as outspoken on the on the Liv tour
36:36
as as anybody that had the opportunity to do so.
36:40
He really moved up in my book. I didn't know what kind of guy
36:42
he was. Seemed like kind of a hot head.
36:44
But I really like him now. Matt Rudy.
36:47
And he was proven right that Liv is not going to make it.
36:50
There's a lot of people were and it seems like it's coming to an
36:53
end. Good to talk to you.
36:55
Good to talk to you. Are you trying to say that you
36:57
don't think someone else will swoop in with $5 billion to kind
37:02
of? Feel like that's not going to
37:03
happen. Yeah.
37:05
So when it, when it first happened, we, we talked about
37:07
it, we had you on the air to discuss some of the pros and
37:09
cons and, you know, the, the shelf life for this event and
37:13
the fact that at the time we both mean, I think a lot of
37:15
people around the world thought, well, here's a bottomless pit of
37:17
money. This will be there as long as
37:20
forever, right? Because they're trying to buy
37:21
their way into the sports landscape.
37:23
The Saudis ultimately what went wrong?
37:25
Was it just they realized a bit a bad business decision and
37:29
they're just going to cut bait and leave?
37:32
Well, I, I, I, I think there is a bottomless pit of money.
37:35
They've just decided to spend the bottomless pit of money
37:39
somewhere else. And I think one of the most
37:41
clever analysis, analysis I've heard about it is being able to,
37:47
you know, to get out of contracts and, or bad
37:50
investments by using an excuse like what's happening with the
37:54
war, You know, and, and, and, you know, in Iran, because, you
37:59
know, there's force, there's force majeure clauses in a lot
38:02
of a lot of these contracts where you could essentially say,
38:05
because of circumstances outside of our control, you know, we
38:08
have to terminate the contract. So that, that, that would be an
38:11
interesting play to, to look at it from a business perspective
38:15
and say, well, you know, we either we accomplished what we
38:17
wanted to accomplish, or we have a better way of getting what we
38:20
want. So let's get out of some of
38:23
these contracts. You know, I'm thinking of John
38:25
Rom's contract, for example, and it's $300 million.
38:28
That's still got some left to play out.
38:30
That could well be, you know, how and why this is happening.
38:33
That's speculation on my part. But I do think that when you see
38:39
the players now and the players agents scurrying around to try
38:42
to figure out where, you know, where they're going to play, you
38:45
know, what that looks like to go kind of rejoin, you know, the
38:49
rest of the world of golf. Even if somebody did come along
38:52
and decide that they were going to fund something live related
38:56
for next year, that's that would be problematic.
38:58
If if, you know, Bryson announces tomorrow that he's
39:00
going to come back and play on the PGA Tour, There's just even
39:03
if there was a product, I don't know that there'll be enough
39:06
money to to support it. So effectively speaking, that,
39:10
you know, this change in strategy is, you know, I think
39:12
it's, it's something that rich guys do all the time when they
39:15
decide to go in a different direction, right?
39:17
I mean, people get laid off people, you know, businesses
39:20
close. It's it's a, it's a story as old
39:22
as time. As Liv closes up shop, let's say
39:26
it just completely folds. What kind of penalty?
39:29
What kind of penalty should there be for specifically John,
39:33
ROM, Andy, She and Bo? The guys that stuck it out to
39:35
the end, took the money. How much of that money is still
39:38
going to be there? We'll see about that front, but
39:40
what should the PGA Tour do with guys like that that want to make
39:43
their way back and do it as quickly as possible?
39:46
I actually admire the PGA Tour commissioner, he said.
39:51
Essentially there and not, maybe not in so many words, but
39:54
there's really just two guys that they care about.
39:58
The rest of them don't ever find their way back.
40:00
I don't know that anyone. Is going to worry about it, but
40:03
I think the two factors that are the biggest in the tours minor
40:07
if if you participated in the antitrust lawsuit, which Bryson
40:11
did and you know what commercial value you have to the tour and I
40:15
think the commercial value is squarely on the shoulders of
40:18
John Ramen and Bryson Dechambeau.
40:21
So I think they'll probably get if I were guessing they would
40:24
probably get a deal that's a little bit worse than the ones
40:28
like you know Brooks Kafka got just because I think that they
40:31
want to reinforce the idea that if you quote UN quote did the
40:34
right thing earlier, you should you should be able to get a
40:37
little bit of a benefit. I can only imagine what, you
40:41
know, some kind of fee or donation or giveaway that a guy
40:44
like Ron or a guy like Bryce. I mean, I think collectively
40:47
those two guys got more than $500 million either in contract
40:51
money that they've already collected or that, you know, is
40:53
through the lifetime of the contract.
40:56
Someone is going to be out for blood, either to have that money
40:59
get paid in a fine or to get paid to a charity or some of
41:03
that is going to have to get disgorged #1 And I think you're
41:07
going to see much longer deferment.
41:10
You know, I don't think Brooks kept good can participate in the
41:13
profit sharing for a couple years.
41:14
He definitely can't participate in the FedEx Cup this year.
41:18
Then you're going to see something along those lines too.
41:21
But there isn't any question that having those two guys back
41:25
playing tour events is important.
41:27
The problem the tour has is those two guys can play in all
41:29
the majors they want. So that doesn't have anything to
41:31
do with the tour. So while they have some
41:34
leverage, it's not unlimited leverage.
41:37
What about a what about a guy Cam Smith for instance, early
41:41
30s I believe he is heck of a player that why wouldn't they
41:45
want him back? Well, I mean, he hasn't broken
41:49
an egg in two years. I mean, he, he collected a lot
41:51
of money from Liv and he's made, no, he's made no secret of the
41:55
fact that he enjoys his life in Australia and he enjoys his
41:58
friends and, and now all that's great.
42:01
I think you're seeing some of that too with Dustin Johnson.
42:04
There are some players where if you know, you collect that check
42:07
and the the fire that was there is just a little bit different.
42:11
So which player are we getting back?
42:14
You know, are we getting back the guy who was so incredible at
42:16
the Open Championship and made everybody looked at and, you
42:19
know, has the best short game in golf?
42:21
Or is it the the guy who's been on a walkabout for the last two
42:25
years? That that that's really the
42:26
question. And, and, and Dustin Johnson, he
42:28
said it out loud that, you know, his ambition is to be off, you
42:32
know, ride in his boat and being retired.
42:34
So, you know, there's some marketing value to those names,
42:36
but the play hasn't really back that up.
42:39
It'll be interesting to watch to see if Dustin Johnson gets an
42:42
exemption. If the PGA gives them a spot in
42:45
the PGA Championship here in a couple weeks, that'll really be,
42:48
I think, one of the little indicators of where he stands in
42:51
the pecking order. IndyCar went through something
42:53
like this in the 90s and it fractured in it never came back.
42:57
Luckily for the PGA, looks like this thing is going to fold up
43:00
shop quickly and is not going to impact it.
43:03
How about the benefit? What have we seen in your mind
43:05
that has improved the PGA Tour? I know purses, the elevated
43:08
events, those are a couple of things that have come out.
43:11
What is your favorite thing that has come out of this and and
43:13
helping the PGA Tour now going forward?
43:16
I mean, I think the best thing that's come out of it is who the
43:19
PGA Tour picked to be the commissioner.
43:21
They picked someone from the NFL who's got sharper elbows and a
43:25
much greater sense of urgency and, and saying that we're not
43:29
going to just let the product be what it is.
43:31
So I, I think that kind of fear, you know, that kind of change in
43:35
mindset is really a much bigger deal than any of the individual.
43:40
I mean, I mean, tour players, the top 50 tour players in the
43:43
world were rich already and they're going to be richer now.
43:46
And that's great. But but that doesn't change the
43:49
fan experience. That doesn't make it any more
43:51
interesting for you or I to watch the PGA Tour event.
43:54
Now, if there's an innovation that causes us to be able to see
43:58
the best players in the world playing each other 20 * a year
44:02
or 22 * a year instead of 10, that's a great innovation.
44:06
And if there's a lot more urgency within the sport to say,
44:09
how are, you know, how do we keep creating events and
44:12
creating formats and, and, and doing things that actually keep
44:16
fans and keep sponsors involved? I think that the tour got
44:20
pretty, you know, kind of lackadaisical for a while and
44:22
that's the whole reason why there people thought that there
44:25
was an opening to challenge it. So that change in mindset I
44:28
think is a tremendous, is a tremendous improvement.
44:31
We're out of time, Matt. Rudy, thank you.
44:32
What Jerry do for us, We'll talk to you in a couple of weeks.
44:34
As you mentioned, in the PGA comes around at that golf course
44:38
that I had never heard of in in Philadelphia, right?
44:41
Yeah, Philly. Erotomy.
44:43
Erotomy. That's it.
44:44
I had you pronounce it for me last time.
44:47
Good stuff, Matt. We'll talk to you in a couple of
44:49
weeks. Appreciate your insight into the
44:51
the demise of live. Appreciate it, Matt Rudy.
44:52
Thank you. Good to talk to you.
44:55
Matt Rudy covers golf for years. Golf Digest now with Miller and
44:59
Condon on the Iowa Sports Radio Network.
45:03
Good stuff. How about Harold Varner?
45:05
Do you ever like him? I did.
45:06
I liked him. He used his money for good.
45:10
Did he helping communities that are not exactly involved in the
45:13
golf he's got? He's got to have a welcome mat,
45:15
doesn't he? A few of them, all right.
45:17
It's not a long list though. Yeah, our two next Miller and
45:20
Condon on the Iowa Sports Radio Network.