Bloomberg Business of Sports

Episode: Eli Manning Eyes NY Giants Stake; WNBA Star Jewell Loyd
Date: May 2, 2025
Hosts: Michael Barr, Vanessa Perdomo, Damian Sassauer

Overview

This episode dives into the intersections of sports, business, and investment. The hosts explore three main stories:

1. Eli Manning’s bid to buy a stake in the New York Giants and broader NFL franchise economics.
2. The Washington Commanders’ new stadium deal and its potential impact on D.C.
3. The growth and business dynamics of Major League Pickleball, followed by a feature on WNBA champion Jewell Loyd discussing her entrepreneurial ventures, perspectives on ownership, and athlete empowerment.

Throughout, the tone is lively, insightful, and conversational, with guests offering behind-the-scenes glimpses of major sports business decisions.

Key Discussion Points & Insights

1. Eli Manning’s Pursuit of NY Giants Ownership

• Background: The Mara and Tisch families are selling a 10% stake in the Giants. Eli Manning, who led the team to two Super Bowls, wants to buy part of that stake.
• Team Valuation:
  • Giants are likely valued higher than recent NFL franchise sales (e.g., Miami Dolphins, Philadelphia Eagles).
  • Damian Sassauer: “So 10%, 800 million? ... Would Eli carry a substantial, you know, stake in the team?” [03:56]
  • Randall Williams: “...the Giants would go for more than both those teams ... In regards to what Eli and his position is...it really depends on what the Maras want it to be.” [04:16]
• Potential Conflicts:
  • Manning’s ongoing TV presence (“Manningcast”) could raise league concerns about owner/broadcaster conflicts, similar to Tom Brady with the Raiders.
  • Michael Barr: “Are they going to run into problems just like Tom Brady?” [04:58]
  • Randall Williams: “There might be some owners in the NFL who look at this and are like, absolutely not. I want similar rules on Manning as there are on Brady.” [05:22]
• Family/Ownership Dynamics:
  • Manning’s deep relationship with both the Mara and Tisch families is expected to smooth the process.
  • Humor: Refers to Eli’s “Chad Powers” persona (an undercover walk-on disguise skit).

2. Washington Commanders’ Stadium Deal

• Ownership Turnaround:
  • Josh Harris’s acquisition from embattled owner Dan Snyder has been transformative.
  • Major stadium deal secured for a new $4B+ domed stadium at the old RFK site.
  • Randall Williams: “If you remember the state of the Commanders just three years ago...The fact that two years later he has...a deal is just insane.” [07:28]
• Political & Financial Maneuvering:
  • Land transfer from federal government to D.C.—a rare, swift congressional action.
  • Funding breakdown: $2.7B from Harris/Commanders, $1.1B from DC, a relatively favorable public-private split compared to other cities.
  • Randall Williams: “...from the percentages, that's roughly 75% Commanders and 25% the people of D.C. and that's a good deal for a $4 billion stadium.” [12:36]
• Economic Impact:
  • Expected to create 2,000 permanent jobs, 14,000 construction jobs, $15B in 30-year economic impact.
  • Damian Sassauer: “Pretty unbelievable. … It's going to be great for the city of D.C.” [11:24]
• Stadium Features & Capacity:
  • Modern amenities: food hall, entertainment, second-most expensive in history after SoFi Stadium.
  • Capacity deliberately capped at 65,000 for best fan experience and easier sellouts.
  • Michael Barr: “If you keep it down to 65,000, you could sell it out easier.” [10:23]
• Reputation of Current Facility:
  • Derided for poor conditions—incidents like falling guardrails and burst pipes reinforced urgency for a new venue.
  • Randall Williams: “That stadium is a dump. And they won't be there too much longer though.” [13:45]

3. Major League Pickleball’s Meteoric Rise

Guest: Samin Adwani, Commissioner, Major League Pickleball

• Rapid Growth:
  • Once dismissed as a fringe sport, pickleball is now mainstream, with $50M+ in 2024 league revenue (excluding teams).
  • High-profile investors: Kevin Durant, LeBron James, Tom Brady, Drake, Michael B. Jordan.
  • Samin Adwani: “A big part of that has been the fact that we've had influencers and high profile people really lean in and...say, hey, we believe in this thing..." [16:37]
• Rise Driven by Amateurs:
  • Real grassroots movement—millions of new players post-pandemic.
• Youth & Collegiate Pipeline:
  • Launch of Junior PPA Tour aims to convert amateur/young players into pros; hope for NCAA sanctioning.
• Business Model & Franchise Value:
  • Pro players now earn $30M+ in aggregate; average salaries >$250K; star Annalee Waters made about $3M/year.
  • Franchise buys start around $10M, making ownership accessible relative to other leagues.
  • Samin Adwani: “If you want to buy a team, you want to try to buy an NFL team, good luck...But you could buy a [pickleball] team for about $10 million…” [26:59]
• Tour vs. Team Format, MLP/PPA Merger:
  • Combined league now splits seasons: PPA Tour (August-April), MLP team format (summer), culminating in Central Park finals.
  • “We hope that that condensed season will lend itself to a better viewership product...” [23:54]
• Synergy with Tennis:
  • Crossovers from tennis—Andre Agassi, Jack Sock, Jeannie Bouchard—and shared facilities, signaling potential rather than rivalry.

4. Jewell Loyd: WNBA Champion to Entrepreneur

Guest: Jewell Loyd, Las Vegas Aces guard, business founder, and investor

• Origins of Entrepreneurship:
  • Personal struggles securing a home loan inspired her fintech platform, “Help With My Loan,” which simplifies small business access to capital.
  • Jewell Loyd: “I realized how hard and the struggle I was to really do that. ... There has to be a better way for people...” [30:02]
  • Focuses on never hearing “no”—reducing hurdles for all, especially those underserved or overlooked.
• Lloyd & Co. Family Office:
  • Co-founded with her brother, centered on impact, healing, and ownership—not just financial gain.
  • Jewell Loyd: “It's really about the impact, healing and ownership...help families, founders, communities build generational power and aligning that with capital and purpose.” [32:12]
• Empowering Underrepresented Voices:
  • Champions inclusion by investing in women, minorities, and communities long shut out of wealth-building.
• Pickleball Investment & Comparison to WNBA:
  • Owner of the Miami Pickleball Club in MLP.
  • On pay disparities: Sees different opportunities and industry lifecycles. Believes growth is accelerating in both leagues thanks to better marketing, international expansion, and inclusiveness.
  • Jewell Loyd: “…the league's getting better. The marketing is coming around, and so it's just opportunity…” [33:23]
• Dyslexia Advocacy:
  • Uses her platform to destigmatize learning disabilities, working with organizations like Eye to Eye and Dyslexic Advantage.
  • Jewell Loyd: “Having, you know, a disability doesn't stop you from being who you are...It's been fascinating to…bring more awareness to it…” [35:08]
• Franchise Ownership & Community Focus:
  • Owns a Smoothie King franchise and a farm—selects business ventures with the intent to empower local communities and create legacy.
  • Jewell Loyd: “...it's really local and I'm able to work with the school ... So it's just ... heartwarming ... to give back and also provide a service and business to the community.” [39:32]
• Women’s Basketball Growth:
  • Excitement for new talent like Caitlin Clark and Paige Bueckers, rivalries, and off-season "Unrivaled" league innovation.
  • Jewell Loyd: “If you're a fan of basketball in any capacity, you love this. This is what you want to see...” [38:10]

Notable Quotes & Memorable Moments

“You don't have to be the best in your sport to make a whole ton of money.”
—Michael Barr [02:08]

“If you want to buy a team, you want to try to buy an NFL team, good luck...But you could buy a [pickleball] team for about $10 million…”
—Michael Barr [26:59]

“It’s not about money, it’s really about the impact, healing and ownership...our mission is to really help families, founders, communities build generational power and aligning that with capital and purpose.”
—Jewell Loyd [32:12]

“Having a disability doesn’t stop you from being who you are or being a human. … This allowed me to find another way to be vulnerable with my fans and find different communities to really embrace me and my story and my journey.”
—Jewell Loyd [35:08]

“If you're a fan of basketball in any capacity, you love this. This is what you want to see. It's just the growth of the game...”
—Jewell Loyd [38:10]

"You get a Super Bowl, you get a new stadium, and then you host a Super Bowl. Everyone in D.C. is going to be losing their minds."
—Randall Williams [11:59]

Timestamps for Key Segments

• Eli Manning’s Giants Bid: 03:16–05:55
• Washington Commanders Stadium Deal: 06:20–13:45
• Major League Pickleball & Growth: 15:39–28:12
• Jewell Loyd’s Ventures and Athlete Empowerment: 29:10–41:05

Conclusion

This episode captures the business pulse of modern sports, spanning legacy NFL ownership shifts, revolutionary new leagues, and the empowerment of athletes as business leaders and social advocates. Jewell Loyd’s journey exemplifies the changing role of athletes—no longer just stars on the court, but also community investors, tech entrepreneurs, and culture shapers.

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