The Deal with Alex Rodriguez and Jason Kelly

Epizodai

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  World Cup 2026 Recap 23.07.2026 49min

  The 2026 World Cup is done and the numbers are astounding. FIFA reportedly expects to bring in $15 billion in revenue, blowing past their original projection of $12 billion. This number isn’t surprising considering that almost 7 million people attended the tournament’s 104 games and 60 million people in North America tuned into Sunday’s final.  In this episode of The Deal, we dig into the stories beyond these record-smashing numbers. First up, Jason talks to Fox Soccer broadcaster Melissa Ortiz about how this World Cup compared to the others she has covered as a broadcaster and played in as a member of the Colombian national team. She also explains what made the officiating so frustrating and why she is already looking forward to next summer’s women’s World Cup.  Next, Jason is joined by Bloomberg News sports reporter and Business of Sports co-host Vanessa Perdomo about what makes this World Cup such an incredible business story and why FIFA will likely be eager to host another major tournament in the U.S. She also gives her take on how the World Cup’s momentum will impact the MLS and predicts the future of hydration breaks.See omnystudio.com/listener for privacy information.
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  Hoyt McGarity on the State of Golf 16.07.2026 31min

  8AM Golf is a holding company whose portfolio includes 15 companies that touch nearly every aspect of golf. Started in 2018 by Howard Milstein, 8AM’s umbrella includes Golf Magazine, Miura Golf and a newly constructed course in Nashville built in partnership with Justin Timberlake. So, there is no one better to talk to about what is going on in the world of golf than the company’s CEO, Hoyt McGarity. In this episode of The Deal, Hoyt dials in from St. Andrews to give Alex and Jason the inside scoop on running a holding company, including: what companies 8AM chooses to invest in, which ones they don’t and when they know it’s time to sell. Hoyt also shares his perspective on making golf more accessible to a new generation of golfers while also respecting the traditions of the old heads and what existential threats the sport is facing. Finally, Hoyt tells us why a golf course must be a “good hang” and about his personal trajectory from caddie to CEO.See omnystudio.com/listener for privacy information.
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  The PWHL is Just Getting Started With Hilary Knight 09.07.2026 31min

  If you know nothing else about women’s hockey, you probably know Hilary Knight. The 5-time Olympic medalist has played the most games in U.S. Women’s Hockey history. She has also served as the captain of two PWHL teams and is one of the reasons the league exists in the first place. In 2019, Hilary was among several players who vowed to boycott any North American league that was not financially sustainable. In 2022, the players entered into a partnership with Mark Walter and Billie Jean King to launch the PWHL. Four years later, the league is selling out games at MSG and accepting a $100 million investment.  In this episode of The Deal, Hilary details for Jason and Alex the process of starting a league where players were partners from the jump and why Mark Walter and Billie Jean King were the right people to work with. She also explains how the momentum from this year’s Olympics bled into the PWHL season and why Heated Rivalry is one of the best things to ever happen to hockey. Finally, she shares her hopes for her post-playing career (spoiler alert! she wants to own a team) and the responsibility of being the face of her sport. Plus, Alex shares a business idea and tells Hilary why she reminds him of NBA Hall of Famer Grant Hill.See omnystudio.com/listener for privacy information.
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  Portland is the Epicenter of Women’s Sports with Lisa Bhathal Merage 02.07.2026 32min

  Lisa Bhathal Merage is very busy cementing Portland’s reputation as the global epicenter of women’s sports. In partnership with her brother Alex and their RAJ Sports venture, Lisa is the owner and governor of the NWSL’s Portland Thorns and the WNBA’s Portland Fire. They came to own both teams under pretty unusual circumstances. The Thorns were in turmoil after their previous owner was ousted and RAJ Sports acquired the W’s latest expansion team after the initial deal fell through- giving them only 15 months to build a franchise from scratch. During Lisa’s tenure, the Thorns and the Fire have maintained some of the highest attendance numbers and most lucrative sponsorship deals in their respective leagues.  In this episode of The Deal, Lisa tells Alex and Jason how running the Thorns and the Fire led her to her purpose. She details the unique challenges of starting an expansion franchise in one league while also running a turnaround effort in another. She also shares how she splits her time as a governor in both the NWSL and the WNBA and how her background in fashion shapes her perspective on women’s sports.See omnystudio.com/listener for privacy information.
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  Is There a Future for LIV Golf? 23.06.2026 32min

  LIV Golf is known for doing it big: big player contracts, big worldwide events and big prize purses (an average of $460 million annually). It has also received big funding from one particular source. As of February 2026, Saudi Arabia’s Public Investment Fund (PIF) has pumped $5.3 billion into LIV. But this past April, the PIF announced that it would halt its funding of the league at the end of this year. The PIF’s exit leaves one big question mark hanging over the league: Can LIV Golf survive? In this episode of The Deal, LIV Golf CEO Scott O’Neil joins Alex and Jason to address the skeptics. He tells us where LIV is cutting costs and how it is maintaining relationships with its big name golfers. O’Neil also explains why he is confident LIV will survive and how it will look different post-PIF. He also shares his pitch to investors and spells out the types of investors who are already interested in LIV 2.0.See omnystudio.com/listener for privacy information.
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  Alex and Jason’s Kids Join Us For a Father’s Day Special! 18.06.2026 41min

  Here on The Deal we have interviewed  some of the world’s most famous athletes and some of the most powerful people in sports. But today we welcome our most important guests and probably our hosts’ biggest critics: their children. In this special Father’s Day episode of The Deal, Alex and Jason’s kids join us to share some perspective on who their dads are off the air. First up, Natasha and Ella Rodriguez give us the inside scoop on Alex’s past as a musical theatre star and which TikTok trends he struggled to master. They also offer him some style advice and share their favorite family memories. Next, we hear from Jason’s sons, Henry and Will, about their dad’s level of Knicks fandom, who is the Josh Hart of the Kelly family and what Jason taught them about appreciating sports. Our closer is Alice Kelly, who asks Alex Rodriguez one of the most pressing questions of his career… does he like Pokémon?See omnystudio.com/listener for privacy information.
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  The Knicks Won Big. New York's Economy Won Bigger. 16.06.2026 32min

  Not only have the Knicks brought New York City its first NBA title in 53 years, the team also brought their hometown a lot of money. An estimate by the New York City Economic Development Corporation puts the economic impact of the Knicks’ postseason run at $380 million. In this special NBA Finals episode of The Deal, NYC EDC Interim CEO Jeanny Pak joins Jason to break down the methodology behind the organization’s estimate and why the real number is probably much larger. She also talks about why sports are such a big economic engine for the city and how the EDC is supporting the development of Willet's Point as a sports and entertainment district. And Jeanny shares some numbers about the economic impact of sporting events like the World Cup, the MLB season and the U.S. Open.  Also in this episode, Alex and Jason marvel at the magic of the Knicks’ playoff run and discuss how the NBA can capitalize on this momentum. Plus, Alex welcomes the 2026 Knicks to New York City’s champion's circle and shares a special message for former Timberwolf Karl Anthony Towns.See omnystudio.com/listener for privacy information.
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  The "Americanization" of the World Cup, Plus Alex on the MLB CBA 11.06.2026 35min

  It’s the first day of the 2026 World Cup! Ticket prices, transportation, security, visas, Attorneys General investigations and water bottles are just a few of the issues threatening to distract from the play on the pitch. Now that it's time for the football to actually be played, we will finally get some answers to the biggest outstanding questions: Will FIFA’s controversial ticketing strategy mean empty seats? Will host cities actually make back their investment? Will the legacy of this World Cup be its challenges or its triumphs? Athletic Senior Writer Henry Bushnell joins The Deal to discuss all the above and more. Henry tells Alex and Jason how FIFA may have misjudged the American market. He also shares his thoughts on why the MLS has already missed the moment to capitalize on this summer’s soccer momentum, which American city will “win” the tournament and how the 2026 World Cup will be remembered.  Want more World Cup? Tune in to Bloomberg's Big Take episode Who's Really Paying for the World Cup? You can also watch this interview on YouTube.See omnystudio.com/listener for privacy information.
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  FIFA’s Jill Ellis Says the World Cup Will be “Magical” 04.06.2026 23min

  Jill Ellis has seen soccer from every angle: as an elite player, as the two-time World Cup champion coach of the U.S. Women’s National Team and as an NWSL team president. She is bringing this expertise to FIFA as the organization’s first Chief Football Officer. As one of the chief architects of the global game, she is the ultimate World Cup insider. In this episode of The Deal, Jill tells Jason and Alex what is worrying and exciting her leading up to the kick off of the 2026 World Cup on June 11th (yes, we talk about ticket prices). She shares some facts and figures around what FIFA is expecting in terms of viewership and revenue. Jill also has her eye toward next summer’s Women’s World Cup in Brazil, telling us about a monumental deal with Netflix and why she is anticipating unprecedented interest in the event. You can also watch this interview on YouTube.See omnystudio.com/listener for privacy information.
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  Tracy McGrady Always Wanted to Be an Owner 28.05.2026 24min

  Hall of Famer Tracy McGrady is considered one of the best shooting guards to ever play the game of basketball. His post-playing career is one of a multifaceted businessperson. T-Mac is one of the lead studio analysts on NBC’s nostalgic return to NBA coverage. And in December 2024, Tracy and his cousin Vince Carter were among 10 limited partners who joined the Buffalo Bills ownership group. Oh, and he started his own league, Ones Basketball. In this episode of The Deal, Alex and Jason sit down with Tracy to walk through his journey from the court to the boardroom. He shares how the Bills deal fulfilled one of his longtime goals and Alex and Tracy compare notes on lessons they’ve learned in the transition from athlete to owner. Tracy also explains how the 90s revolutionized the business of basketball, the joy of doing business alongside his cousin Vince and why he is going all-in on one-on-one.  You can also watch this interview on YouTube.See omnystudio.com/listener for privacy information.
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  Jess Pegula on the Business of Tennis 21.05.2026 24min

  Jess Pegula has spent her life around elite sports — both as one of the best tennis players in the world and as part of the family behind the Buffalo Bills and Buffalo Sabres. Beyond competing at the highest level, she’s become an influential voice in the future of professional tennis through her role as a player representative for the Women’s Tennis Association, giving her a rare window into both the business and competitive sides of the industry. In this episode of The Deal, Alex Rodriguez and Jason Kelly sit down with Jess to talk about lobbying for change in professional tennis, balancing the interests of players and management, and what she’s learned from growing up around major sports franchises. Jess shares lessons from her parents Terry and Kim Pegula on leadership, team building and adapting to different personalities. She also discusses the unique culture of Buffalo sports and how her experiences in tennis and sports ownership have shaped the way she approaches business and competition. You can also watch this interview on YouTube.See omnystudio.com/listener for privacy information.
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  Alan Waxman is a Sports Superinvestor 14.05.2026 24min

  Alan Waxman’s Sixth Street Partners has a deep conviction in sports. Over the past five years, Alan and his firm have taken a minority stake in teams in most major professional leagues, including: the Boston Celtics, the San Antonio Spurs, the San Francisco Giants and FC Barcelona. In 2024, Sixth Street became the first investment fund to take a controlling interest in an American pro team with the NWSL’s Bay FC. And as of September 2025, Sixth Street owns a 3% stake in one of the biggest names in sports- the New England Patriots. In this episode of The Deal, Alex and Jason sit down with Alan live at Bloomberg Invest. Alan tells the story of getting the call from Robert Kraft and why Sixth Street is one of only a handful of PE firms approved to invest in the NFL. He also shares his view on international growth opportunities in the NBA, why a historic NWSL expansion fee paid off and how far away we are from institutional capital taking a controlling stake in an NFL or NBA team. Finally, Alex and Alan give their takes on how to “fix” professional baseball. You can also watch this interview on YouTube.See omnystudio.com/listener for privacy information.
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  AJ Andrews on What's Next for Baseball and Softball 07.05.2026 24min

  Baseball and softball are both having a moment. The 2025 Women’s College World Series was the most watched ever, with 2.4 million people tuning in to game 3. On the baseball side, almost 11 million people watched Venezuela beat the U.S. to take the 2026 World Baseball Classic title. The audience for both sports is growing, and LSU softball star and baseball media analyst AJ Andrews is one of their most enthusiastic ambassadors. In this episode of The Deal, Alex Rodriguez and Jason Kelly talk to AJ about how the MLB must embrace player authenticity in order to flourish. She also shares how a conversation with ESPN’s Jessica Mendoza changed her career trajectory and why the future of softball lies in storytelling. Finally, AJ and Alex compare notes about the benefits of being an athlete turned broadcaster.  See omnystudio.com/listener for privacy information.
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  How NFL Legend Steve Young Built a $10 Billion Fund 30.04.2026 23min

  Steve Young has created a playbook for so many athletes looking to make their way in business and spends a lot of his time paying it forward. HGGC, the private equity firm he started in 2007 with Rich Lawson, currently has an AUM above $10 billion. He also happens to be one of the best quarterbacks to ever play the game of football.  In this episode of The Deal, Alex Rodriguez and Jason Kelly hit the road to talk to Steve Young at his Palo Alto office. Steve shares why making a clean break from football was one of the best decisions he’s made in his career, why he considers himself “highly fireable” and how he built a fund with a spirit of abundance. He also shares some stories about Roger Staubach, Bill Walsh and his dad, Grit Young. You can also watch this interview on YouTube.See omnystudio.com/listener for privacy information.
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  The WNBA's Expansion into Cleveland is Powered by Private Equity 23.04.2026 32min

  Kara Nortman bets big on women’s sports, and it’s paying off. She is the co-owner of Angel City FC, an NWSL team with a $335 million valuation. She is also the managing partner of Monarch Collective, the first investment platform exclusively dedicated to women’s sports. Monarch is now investing a $250 million fund with a stake in three NWSL teams and a European football club. In March, Monarch acquired a minority stake in Cleveland’s WNBA expansion team, becoming the first private equity firm to invest in the league. In this episode of The Deal, Kara breaks down for Alex and Jason how Monarch became the first private equity firm approved to invest in the WNBA and why they chose Cleveland as their team. She also explains why she considers this moment the “third inning” of women’s sports investment and why she is willing to waste time with the right people. Kara also breaks down her belief that the key to derisking women’s sports is putting butts in seats.  You can also watch this interview on the Bloomberg Podcasts YouTube page.See omnystudio.com/listener for privacy information.
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  How Kenny Beecham Became the New Face of NBA Media 16.04.2026 33min

  NBA fans, you’re about to see a whole lot more of Kenny Beecham. The founder of basketball media brand Enjoy Basketball first broke through in 2011 streaming NBA 2k games on Twitch. Since then, he has built a YouTube channel with over 700,000 followers, hosted altcasts on NBA TV and ESPN and interviewed Adam Silver. In October 2025, Kenny and Enjoy signed their biggest deal yet: a partnership with NBC Sports to produce original NBA programming, the network’s first partnership with a creator-led media company. In this episode of The Deal, Kenny tells Jason and Alex why his appeal is based in the fact that he is “just a guy from Chicago.” He also shares how a cold email and getting stranded in a blizzard helped him close the deal with NBC. Kenny also explains how the YouTube “Adpocalypse” helped him build a basketball media juggernaut, how Allen Iverson changed the culture of basketball and why a show about NBA wives and girlfriends is such a hit. You can also watch this interview on the Bloomberg Podcasts YouTube page.See omnystudio.com/listener for privacy information.
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  Elle Duncan Says It’s Too Early to Write Off Netflix Sports 09.04.2026 38min

  Elle Duncan has heard your criticism of Netflix’s MLB Opening Day Coverage. And as the streamer’s first sports anchor, she has something to say about it. In this episode of The Deal, Elle explains to Alex and Jason that there is a difference between constructive criticism and saying something is “too Netflix” and there’s a balance between "eventizing" sports and covering them. She also shares why she left ESPN after a decade and what it’s like to be on a desk with the notoriously anti-media Barry Bonds. Then, Elle talks about her other new role hosting USA Network’s 2026 WNBA coverage and why the growth of women’s sports depends on investing in coverage and giving ourselves permission to admit that some players are just better than others You can also watch this interview on the Bloomberg Podcasts YouTube page.See omnystudio.com/listener for privacy information.
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  How Jesse Cole Turned the Savannah Bananas Into a $500 Million Business 02.04.2026 27min

  Jesse Cole is the Walt Disney of baseball. As the founder and CEO of the Savannah Bananas and its parent company Fans First Entertainment, Jesse rewrote the rules of baseball to build an entertainment juggernaut. There are no bunts, walks or mound visits in Banana Ball, but there are dancing umpires, trick plays and choreographed dance numbers. But the Savannah Bananas are more than just a zany take on America’s past time, they are a $500 million business.  In this episode of The Deal, Jesse tells Alex and Jason the tale of how the Bananas went from a struggling Coastal Plain League team to a multi-team league that sells out NFL stadiums. He also shares why he doesn’t charge his fans taxes or ticket fees and why Bananas games stream free on YouTube- despite the league having a deal with ESPN. Jesse also explains the details of a mistake that cost him $6 million and why he is inspired by both Dana White and Lorne Michaels.See omnystudio.com/listener for privacy information.
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  MLB Opening Day Preview with Alex Rodriguez 25.03.2026 33min

  Today is Opening Day of the 2026 MLB season. The season kicks off with a coast-to-coast showdown (on Netflix!) between the New York Yankees and San Francisco Giants. But it’s the off-the-diamond news that’s making the biggest waves. Beyond a streaming service partnership, baseball's also now in business with Polymarket, and facing labor strife that could lead to an offseason lockout going into 2027. So, yeah, there's a lot to talk about.  In this special episode of The Deal, Alex breaks it all down for Jason, reflecting on his own participation in the 1995 MLB lockout and responds to MLB Commissioner Rob Manfred saying off-season lockouts “should be the new norm.” He also explains what he sees as the MLBPA’s non-negotiables, his thoughts on the MLB having a salary cap and why now is the best time to invest in baseball. Finally, Alex shares the baseball storylines he is most looking forward to and his prediction of who will be facing off to win it all in October.See omnystudio.com/listener for privacy information.
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  David Levy is the Reason You’re Watching March Madness 19.03.2026 25min

  It’s brackets season! And you can watch all 67 games of both the women’s and men’s NCAA tournament on national TV, thanks to David Levy. Levy spent 33 years at Turner Broadcasting, eventually serving as its president, where he expanded the network’s NBA coverage. Levy is probably best known for brokering a $10.8 billion rights agreement that made every March Madness game available nationally across CBS and the Turner networks for the very first time. In this episode of The Deal, Alex and Jason talk to Levy about the ins and outs of the March Madness deal. He also tells the story of how he got Shaq to fill Inside the NBA’s fourth chair and why the key to that show’s success is letting Charles Barkley talk. Finally, Levy shares more about his current venture, Horizon Sports & Experiences, and why he’s betting big on women’s sports and pickleball. You can also watch this interview on the Bloomberg Podcasts YouTube page.See omnystudio.com/listener for privacy information.