The Deal with Alex Rodriguez and Jason Kelly

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• Tracy McGrady Always Wanted to Be an Owner 28.05.2026 24นาที

  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.
• Jess Pegula on the Business of Tennis 21.05.2026 24นาที

  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.
• Alan Waxman is a Sports Superinvestor 14.05.2026 24นาที

  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.
• AJ Andrews on What's Next for Baseball and Softball 07.05.2026 24นาที

  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.
• How NFL Legend Steve Young Built a $10 Billion Fund 30.04.2026 23นาที

  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.
• The WNBA's Expansion into Cleveland is Powered by Private Equity 23.04.2026 32นาที

  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.
• How Kenny Beecham Became the New Face of NBA Media 16.04.2026 33นาที

  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.
• Elle Duncan Says It’s Too Early to Write Off Netflix Sports 09.04.2026 38นาที

  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.
• How Jesse Cole Turned the Savannah Bananas Into a $500 Million Business 02.04.2026 27นาที

  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.
• MLB Opening Day Preview with Alex Rodriguez 25.03.2026 33นาที

  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.
• David Levy is the Reason You’re Watching March Madness 19.03.2026 25นาที

  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.
• Reaction: Alex Rodriguez Says the MLB Needs to Act on the World Baseball Classic’s Momentum 17.03.2026 15นาที

  Tonight, the United States and Venezuela face off in the finals of the 2026 World Baseball Classic. And chances are, a lot of you will be watching. Based only on pool play, this year’s WBC viewership is up 142% from the 2023 tournament. 35,000 people have bought tickets to tonight’s final and over 100 million Japanese fans tuned in to watch Shohei Ohtani. Aaron Judge called the crowd at the U.S.-Mexico game on March 10th, “bigger and better than the World Series.” In this special episode of The Deal, Alex Rodriguez shares his reaction to the phenomenon that is the 2026 World Baseball Classic with his co-host Jason Kelly. Rodriguez talks about the national pride his fellow Dominicans felt over the past few weeks and explains why MLB commissioner Rob Manfred needs to capitalize on this momentum leading into what Rodriguez calls “the most important season in the history of the sport.”See omnystudio.com/listener for privacy information.
• How NFL Star Bobby Wagner is Modeling his Career on Michael's and Magic's 12.03.2026 26นาที

  Bobby Wagner is one of three NFL Linebackers to ever record 2,000 tackles. But his biggest goal is ownership, whether that’s of a team or his own contract negotiations. Following the lead of his mentors Michael Jordan and Magic Johnson, Wagner has spent the last decade diversifying his business interests, including investments in tech start-ups and taking a minority stake in the WNBA’s Seattle Storm. In this episode of The Deal, Alex and Jason talk to Wagner about what he saw as an NFL rookie that motivated him to be his own agent and explains the ins and outs of how an NFL contract comes to be. Wagner also shares how Larry Johnson and a cartoon based on Magic shaped his views on athletes and ownership. He also explains why writing a check to the Seattle Storm was his easiest investment decision.  You can also watch this interview on the Bloomberg Podcasts YouTube page.See omnystudio.com/listener for privacy information.
• Men in Blazers’ Roger Bennett Says America Already Loves Soccer 05.03.2026 29นาที

  Can Americans really embrace the rest of the world's favorite sport? According to Roger Bennett, the founder and CEO of soccer media powerhouse Men in Blazers, we don't have to wait for this summer's World Cup -- the love affair with soccer is in full swing across the United States. In fact, Roger breaks the news to Alex that soccer has surpassed baseball as the country’s third most popular sport after (American) football and basketball.  In this episode of The Deal, Alex and Jason talk to Bennett about soccer’s ascent into the hearts of American sports fans and into the portfolios of American investors. He also explains why the MLS will never be as popular as the Premier League, why soccer ownership is a great investment and why the World Cup is the pinnacle of athletic competition. Check out Roger’s new memoir We Are the World (Cup) You can also watch this interview on the Bloomberg Podcasts YouTube page.See omnystudio.com/listener for privacy information.
• Power Players: How F1's Pierre Gasly Built a Brand Outside of Racing 11.12.2025 32นาที

  In this special episode, Jason Kelly speaks with Formula 1 driver Pierre Gasly about how drivers aren't just racers in today's Formula 1 – they're global brand ambassadors, technical consultants, and brands unto themselves. Gasly discussed how he is building his empire through partnerships with fashion brands, an investment group, and an ownership stake in FC Versailles, on top of competing in 24 races every year around the world.  This interview was part of the first episode of Bloomberg Originals' documentary mini-series, Power Players. See omnystudio.com/listener for privacy information.
• Power Players: How CEO Stefano Domenicali is Growing F1's Legacy 04.12.2025 27นาที

  In this special episode, Jason Kelly speaks with Formula 1 CEO Stefano Domenicali about how F1 is bringing its booming business to Miami, why he's excited about the addition of Cadillac to the F1 grid, how he's pushing to bring more women into racing through F1 Academy, and why he teamed up with the folks behind the Brad Pitt movie "F1."  This interview was part of the third episode of Bloomberg Originals' documentary mini-series, Power Players.  Listen to previous episodes of The Deal with Alex Rodriguez and Jason Kelly featuring Tom Garfinkel, CEO of the Miami Dolphins and Hard Rock Stadium, and Susie Wolff, managing director of F1 Academy. See omnystudio.com/listener for privacy information.
• Why Willow Bay Invested in Angel City FC 06.11.2025 25นาที

  In this episode of The Deal, Alex Rodriguez and Jason Kelly talk to Angel City FC controlling owner Willow Bay about how she sees her investment giving back to the community. They discuss how Bay helped change sports media culture when she hosted “NBA Inside Stuff,” how her work as dean of the USC Annenberg School for Communication and Journalism inspired her to acquire a team in the National Women's Soccer League and why team ownership is unlike anything she ever imagined.See omnystudio.com/listener for privacy information.
• Reaction: Best World Series Ever? Plus, the "Alex vs. A-Rod" Premiere 04.11.2025 21นาที

  In this special bonus episode of The Deal, Alex Rodriguez and Jason Kelly hop on the mic to talk about the thrilling seven-game World Series between the Los Angeles Dodgers and the Toronto Blue Jays. They discuss why it was the best World Series Rodriguez has ever seen, how Dodgers owner Mark Walter's vision and checkbook have fueled the team, and why they see potential for a Dodgers three-peat next year. The hosts also talk about the premiere of the new HBO documentary series, "Alex vs. A-Rod," and the lessons Rodriguez hopes younger athletes learn from his mistakes.See omnystudio.com/listener for privacy information.
• Why Emmanuel Acho Left the NFL to Create a New Kind of Platform 30.10.2025 48นาที

  In this episode of The Deal, Alex Rodriguez and Jason Kelly talk to the former football player and award-winning producer Emmanuel Acho about why he rejected the NFL and rebranded as a media influencer. In this conversation, they discuss the business of the NFL, why Acho’s “Uncomfortable Conversations with a Black Man” video series became a viral success and how he’s revitalizing sports media with his new show “Speakeasy.”See omnystudio.com/listener for privacy information.
• How Jerry Jones Turned the Cowboys Into a Global Brand 23.10.2025 49นาที

  In this episode of The Deal, Alex Rodriguez and Jason Kelly talk to Dallas Cowboys owner, President & General Manager Jerry Jones about how he turned “America’s Team” into a global brand. In this conversation, they discuss the risks Jones took to redefine the role of National Football League teams, how he faces criticism and the high-stakes deals that have shaped his legacy, including the controversial trade of Micah Parson.See omnystudio.com/listener for privacy information.