Loading summary
Transcript99 lines
- [00:00]
Vanessa Perdomo
Foreign.
- [00:05]
Nick Swisher
From iShares, you get access to both monthly income and growth potential in one simple ETF. It's the best of both worlds. Discover Bali iShares Large Cap Premium Income Active ETF iShares the market is yours visit www.ishares.com to view perspectives for investment objectives, risks, fees, expenses and other information that you should read and consider carefully before investing. Risks include principal loss and the use of derivatives, which could increase risks and volatility. Monthly income is not guaranteed. Prepared by BlackRock Investments, LLC.
- [00:30]
Bloomberg Announcer
Small businesses are the pulse of every community. They bring people together, create opportunities and drive growth. Chase for Business helps business owners like you with personalized guidance and convenient digital tools all in one place. With that guidance and your determination, you can take your business farther and help build a brighter future for your community. Learn more@chase.com business chase for business Make More of what's Yours the Chase Mobile app is available for select mobile devices. Message and data rates may apply JPMorgan Chase Bank NA member FDIC Copyright 2026 JPMorgan Chase Co.
- [01:08]
IBM Representative
So there's a lot of noise about AI, but time's too tight for more promises. So let's talk about results. At IBM, we work with our employees to integrate technology right into the systems they need. Now a global workforce of 300,000 can use AI to fill their HR questions, resolving 94% of common questions, not noise proof of how we can help companies get smarter by putting AI where it actually pays off. Deep in the work that move the business. Let's create smarter business. IBM
- [01:40]
Bloomberg Announcer
Bloomberg Audio Studios Podcasts Radio News this is the business of sports.
- [01:48]
Nick Swisher
Sports are the greatest unscripted show on earth.
- [01:52]
Chip Palsik
The next generation of players really grew up with tech and believe in tech.
- [01:55]
Vanessa Perdomo
Your face is your ticket. Your face is your wallet. Your face is your access to a club.
- [01:59]
Nick Swisher
These are such iconic and important buildings for businesses. For fans, Covid was one of the best things ever happened to go the
- [02:07]
Randall Williams
NFL is a bulletproof business.
- [02:09]
Chip Palsik
Racing's unique because there is absolutely no
- [02:11]
Vanessa Perdomo
reason why we can't compete with the guys.
- [02:13]
Public.com Announcer
Come on, it's pro pickleball real. Are people really going to tune into this?
- [02:16]
Chip Palsik
If you're playing Moneyball with a huge
- [02:18]
Randall Williams
bag of money, you're going to be really, really good.
- [02:20]
Bloomberg Announcer
Bloomberg Business of Sports From Bloomberg Radio,
- [02:26]
Vanessa Perdomo
this is the Bloomberg Business of Sports where we explore the big money issues in the world of sports. I'm Vanessa Perdomo. Michael Barr is off this week, but stepping in to join me this week is our friend Bloomberg News. Sports business reporter Randall Williams. Today on the show, we are speaking with former professional athletes about their next chapter after their playing career. First up, I have to calm myself a little bit because we are talking to a member of the 2009 Yankees World Series team, Nick Swisher. Nick is here to speak about his partnership with Ford and give us the insight on the start of the baseball season. Nick Swisher, former MLB All Star and World Series champion. Thanks so much for joining the Bloomberg business of sports. We're so excited to have you.
- [03:10]
Nick Swisher
Oh, yeah, thanks for that intro. I'll take that, Vanessa. I'm in for that. That sounds good.
- [03:15]
Vanessa Perdomo
All right, well, let's get into it then. So it is opening week. Give us your early, super early, way too early predictions.
- [03:23]
Nick Swisher
I mean, my way too, way too early predictions. Listen, I think there is obviously a handful of teams each and every year that you would include in that World Series conversation. One of the things that I love about our squad with the New York Yankees is the depth that we have from our starting pitching. Really, really excited about that. Garrett Cole's on his way back as well. It's going to be amazing having him back in the starting five. But listen, I mean, you know, a lot of narrative has been around how the Yankees are kind of running it back this year and how they're kind of, you know, how they had the same team that they had last year. And yes, that is true. But once again, you are talking about the best regular season offense in the league last year. So there is something to be said for that. From the time that I've been able to spend with these guys in spring training, it's been nice. The conversations that are being had are a lot different than they have been in the years past. So there's a lot more comradery going on. There's a lot more talks about, you know, having the opportunity to play together one more time. And once again, you know, with the buzz that the World Baseball Classic just had, you know, regular season, we're really excited to get this thing going. So I don't know, I mean, I'm a Yankee guy, so I mean, I believe Pinstripe. So it's hard for me not to say that I don't think my boys are going to be able to get it done this year. I tell you what, it's really hard right now not to say, you know, the Los Angeles Dodgers, I think the Chicago Cubs made a real good push, you know, trying to bring over some guys over there. I really think that there's going to be a battle up for the American League. You know, you're talking about, you know, the Toronto Blue Jays, who just had an absolutely tremendous year. Boston Red Sox have a bunch of young thundercats on that team. You know, I'm really interested to see kind of what the Baltimore Orioles do, but if you're really asking me kind of hard, it's obviously I'm going to say the New York Yankees just because
- [05:08]
Randall Williams
I was going to say.
- [05:09]
Nick Swisher
But I truly do believe that if, if you're looking at the overall Vegas odds, it's hard to say that the New York Yankees won't be there at the end. They have exactly what it takes. They have the depth, they have the overall experience. This isn't a guessing game anymore. The boys know exactly what's up for stake. They know how blessed they are to be able to be, to be running this back together again just like they did back in 25. So I'm really, really expecting an absolutely fantastic 26 season. Yankees, Dodgers.
- [05:39]
Randall Williams
I was going to say.
- [05:41]
Vanessa Perdomo
Yeah. Appreciate you the redemption.
- [05:43]
Randall Williams
I hear you. I hear you. So ahead of opening day, the MLB's partnering with Ford Motors as being the official automotive partner of the mlb. Tell us about what's happening there.
- [05:55]
Nick Swisher
Oh, yeah, this is amazing. You're talking about two of the most iconic American brands that literally helped build America. If you're thinking about it, from the iconic company Ford to America's favorite pastime and MLB now, what's great about this is this is not just a sponsorship, man. This is an overall partnership. And what I appreciate most about what Ford is doing right now is they're not just showing up for the huge major league spotlight moments. Fourth of July, opening day, World Series. No, no, no. Ford is now spreading their wing. What they're doing is they are getting themselves involved from the grassroots up. And for someone like me, who is a girl, dad, the fact that they are including softball in something like this makes me. Makes my heart just absolutely want to explode. I think right now, women's sports are having such a huge momentum right now. And with the overall growth of softball as well as youth sports, the fact that Ford is really getting themselves involved from the grassroots moving up. Could not be more proud to be sitting here representing two iconic American brands. And with the overall resurgence that America's had here over the overall Olympics, we just had, obviously the heartbreaking loss we just had in the wbc, it seems like right now people are back, man. People are proud to be American. And at the end of the day, having these two amazing Iconic brands collabing together to create this partnership could not be more honored to be sitting here repping both brands.
- [07:16]
Randall Williams
So let me ask you this. With this being, you know, you're calling this America's most iconic company, what is your favorite Ford model?
- [07:25]
Nick Swisher
Oh, bro. Is it hard? I mean, bro. F150.
- [07:28]
Randall Williams
I figured you were going to say that.
- [07:30]
Nick Swisher
I mean, come on, let's go. I mean, I am a girl, dad. I've got daughters. So the Expedition, if you haven't seen the 2026 expedition, oh, man, everything looks good. So it'd be hard for me not to say the F150, but I'm also going to say the Expedition as well.
- [07:44]
Vanessa Perdomo
Like we were saying, with this, it's a real partnership. And including the grassroots level, why is that important for, you know, for a sponsor to really become a partner and to grow the game more than at the professional level?
- [07:58]
Nick Swisher
I don't know if you guys have kids, but at the end of the day, sports cost money. And at the end of the day, baseball is kind of one of those sports where you need equipment. And the fact that Ford is going out and putting where their money, where their mouth is. Involving themselves in not only just a major partnership with mlb, but be able to kind of investing in the areas where Ford works in places like, you know, Detroit as well as Buffalo. I think they're investing in the communities, and that's what it's all about. You know, America and baseball is America's favorite pastime. Things are built around communities and the fact that Ford understands that creating this huge partnership not only with the iconic brand, with Major League Baseball, but being able to dip into the grassroots and give those opportunities for young kids to play the game that I love and a lot of people out there love because being part of a team helps mold you as a human being moving forward. You learn how to count on people. People learn how to count on you. I love the team aspect of baseball and softball and all of that. I think the kids need a little bit more of that. And the fact that Ford is going out there and helping these individuals have that opportunity to go out and play this amazing game, I think it's an absolutely amazing partnership, and I can't wait to see what Ford's going to do in the future.
- [09:11]
Randall Williams
So we just got done wrapping up the World Baseball Classic, and it seems like the event has grown year after year. I wonder what you make of the World Baseball Classic and sort of its bold cultural significance and how the event came out to be.
- [09:24]
Nick Swisher
Hey, I mean, Randall, I don't know about you, bro, but after watching Venezuela absolutely just weep, it was incredible. After winning that game, it just made me really think to myself, number one, how important the WBC really is, and number two, how winning that thing can really, really change an overall community and overall country. The fact that Venezuela is celebrating the way they are right now is absolutely earned. I could been more proud of those guys. I was listening to, you know, Salvi Perez and just talking about just how blessed they were to be able to be part of a brothership and, and a family and how it is different representing your country more than representing your team. So I think just in general, the fact that Major League Baseball, as well as, you know, my guy Jim Snell, who heads up the wbc, they have done an absolutely tremendous job. I was able to spend a little bit of time with the commissioner down in Puerto Rico. And bro, I'm telling you, that Latin style of baseball is in my bl, no doubt. I mean, with the music, the vibes, the overall. Just the overall energy that goes into the games, I think it's absolutely amazing for our game. And just with our overall global superstars, we have with people like Shohei Ohtani, you know, with overall, you know, Ronald Acuna Jr. For Venezuela, I'm even thinking the electrician from the Czech team, the pitcher, I mean, what an amazing moment for him. So just so many different things that have happened over the last, you know, three weeks in the WBC could not be more excited for what's about to happen for the regular season. Heartbreaking loss for Team usa. But that home run, Bryce Harper hitting the eighth inning, I won't ever forget that home run because that one was a good one.
- [11:05]
Vanessa Perdomo
I mean, it's so interesting, like you were talking about, I mean, Latinos, we did show up, we put on the culture was amazing. Right? But what do you think? This is the first time we've really seen the WBC in this light, that it's really on par with these other international events. You had it squeezed in between, you know, the Milan Winter Olympics and right before the World Cup. Can baseball be, you know, is the WBC becoming one of those international events that really brings significance to the sport, you know, worldwide, you think?
- [11:34]
Nick Swisher
I mean, Vanessa, I could. I couldn't agree with you more. I truly believe that it really has put our game on the map there for a moment. I mean, you've got so many other sports kind of rocking and rolling right now, and we were taking center stage. So I think just in General, I think what I think is going to come from the wbc, and I think we heard Bryce Harper talk a little bit about it during his interviews is the Olympics and figuring out how we can get professionals in the Olympics. Because at the end of the day, being able to watch the Winter Olympics this year and just watching those individuals stand up on that podium receiving their gold medals, the fact that their national anthem was being played, there's something to be said about that. And, you know, it's a little mini kind of Olympics for the wbc. But I do love the fact that the conversation is now going to get started like that because I think that would be absolutely amazing to be able to include professionals in that overall Olympic setting. I think that would be great for the sport as well as for the Olympics in general.
- [12:33]
Vanessa Perdomo
We are talking to Nick Swisher, former MLB All Star and World Series champion. I want to talk a little bit more about that, a little bit more about the Olympics, like you were saying, because it hasn't been decided upon yet and they haven't really made the official decision yet. What's holding them back and what really would be the disadvantage to not having MLB players play in the Olympics?
- [12:53]
Nick Swisher
Well, I mean, they haven't done it thus far. I would say probably your biggest hurdle is just a bunch of red tape. You got to remember there were a lot of players that were not able to play in the World Baseball Classic due to insurance policies, things like that. Because you got to remember these guys aren't necessarily getting paid as much as they would be during the regular season. And I know that the agents are not receiving very much money either. So that really could be kind of a sticking point in general. Now, depending on when you're going to have to do that, you're going to have to figure out a time to where you're going to have to shut the season down to be able to, you know, have those individuals go and play in the, in the Olympics. So it's great that the conversation is getting going. I think that there's. Obviously, this wouldn't be happening if the Olympics weren't in Los angeles coming in 2028. But being able to be right here in our backyard, the conversation seems like it could not be happening at a better time. So I think just in general, we're in a money spot right now with our game. You know, Netflix has jumped into the game this year. Happy opening day out in San Francisco with the Giants and the Yankees. No, they got some amazing superstars. Bert Kreischer is going to be over there. So I think just in general, we are in a money spot right now. We've got a lot of attention around our game and we really need to capitalize on this momentum.
- [14:08]
Vanessa Perdomo
Right now we're talking with World Series champion Nick Swisher. Stick around. Our conversation continues with a focus on collective bargaining for Michael Barr and this week's co host, Randall Williams. I'm Vanessa Perdomo. You're listening to the Bloomberg Business of Sports from Bloomberg Radio around the world.
- [14:36]
IBM Representative
So there's a lot of noise about AI, but time's too tight for more promises. So let's talk about results. At IBM, we work with our employees to integrate technology right into the systems they need. Now a Global workforce of 300,000 can use AI to fill their HR questions, resolving 94% of common questions. Not noise. Proof of how we can help companies get smarter by putting AI where it actually pays off, deep in the work that moves the business. Let's create smarter business IBM Everyone has been there.
- [15:07]
Bloomberg Announcer
Your team's feedback is scattered across emails, chats and sticky notes. It's a mess, but PDF spaces in Adobe Acrobat gives you one collaborative workspace to streamline every file and comment. So if you need six departments to finally agree on a proposal, do that with Acrobat. Need to turn a mountain of feedback into one plan of action? Do that with Acrobat. Want to stop searching for files and finally get everyone on the same page. Do that, do that do that with Acrobat. Learn more@adobe.com do that with Acrobat.
- [15:42]
Public.com Announcer
Support for the show comes from Public. Public is an investing platform that offers access to stocks, options, bonds and crypto. And they've also integrated AI with tools that can assist investors in building customized portfolios. One of these tools is called Generated Assets. It allows you to turn your ideas into investable indexes. So let's say you're interested in something specific like biotech companies with high R and D spend small cap stocks with improving operating margins or the S&P 500 minus high debt companies. Chances are there isn't an ETF that fits your exact criteria. But on Public you just type in a prompt and their AI screens thousands of stocks and builds a one of a kind index. You can even backtest it against the S&P 500. Then you can invest in a few clicks, go to public.com market and earn an uncapped 1% bonus when you transfer your portfolio. That's public.com market ad paid for by Public Holdings Brokerage Services by Public Investing member FINRA SIPC Advisory Services by Public Advisors SEC Registered Advisor crypto services by ZeroHash sample prompts are for illustrative purposes
- [16:48]
Nick Swisher
only, not investment advice.
- [16:49]
Public.com Announcer
All investing involves risk of loss. See complete disclosures@public.com disclosures this is Bloomberg
- [16:57]
Bloomberg Announcer
Business of Sports From Bloomberg Radio, this
- [17:01]
Vanessa Perdomo
is the Bloomberg Business of Sports where we explore the big money issues in the world of sports. I'm Vanessa Perdomo. Michael Barr is off this week and stepping in to join me is Bloomberg's Randall Williams. We're talking with World Series champion Nick Swisher on the start of the MLB season. Let's get back to that conversation.
- [17:18]
Randall Williams
One of the looming things in the distance for the MLB after this season is going to be collective bargaining. From your standpoint, there's been a lot of conversations about does there need to be a minimum cap spending requirement for owners, does there need to be a salary cap, all these sorts of things because you do have owners who are not spending and you have owners who are overspending, like the Dodgers, for example. What do you make of that conversation? As a former player who's been involved in collective bargaining negotiations, how is this all going to play out and where do you stand on things?
- [17:48]
Nick Swisher
I've been able to circle this game from, you know, all sorts of facets in this moment. I've been able to be a player, been able to circle it from the media standpoint, you know, being able to be a special advisor with the Yankees. This is my ninth year, being able to circle it from the front office perspective as well as working for the commissioner. Now how everything has been brought to me is, you know, whenever you hear the word cap for a Major League Baseball player, that's almost like taboo. But at the end of the day, it was not presented to me like that. It was presented to me as a floor. Right now one of the things that I do appreciate about that floor is if you look at the overall spending of Major League Baseball, there's only a handful of teams that go over that luxury tax. Now, when you're talking about a cap, there almost is an imaginary cap anyways, because when you do go over that certain number, you have to pay money in luxury tax. Now where does that luxury tax money go? It goes to the lower teams. And I think that the teams that are spending money are getting a little sick and tired of paying for all of those teams that are not spending money. So for someone like me, I think it's amazing. I think you're starting to see these NBA Max sort of contracts come into play. I think you saw Kyle Tucker on the four years, $240 million. I think that they're realizing that these 10, 15 year deals don't necessarily pan out in year 12, 13, 14 and 15. If I was a player in today's game, I'm thinking to myself, man, if I'm the number 19, 20, 21, 22, 23 player on the roster now I've got a chance to start making a little bit more money, especially if this floor comes into play. And like I always say, if you want to be part of this game moving forward, you have to have an open mind. You have to be open to a little adjustments, maybe a little changes in the game. But I think just in general, the game is in a great place. And once again, once we get this CBA behind us moving forward, obviously with everything that happened with Tony Clark, I'm really interested to see what's going to happen on the union side. From my mouth to God's ears. Fingers crossed. We don't need a stoppage. We want to continue to keep this going. We want to make sure that those conversations get taken care of, finished off so we can make sure that we have an amazing 27 season just like 26 going to be.
- [19:52]
Vanessa Perdomo
I'm curious, when you were talking to players like, do you think they're on that same wave of. They kind of understand that those long term big contracts, they don't need to keep fighting for the 10 year deals anymore.
- [20:02]
Nick Swisher
Vanessa, at least you know, for myself. I remember when I was coming on my six year free agency, you know, I remember with my agent that I had at the time, Danny Lozano, I remember him stressing to me that all we were fighting for was years. The more years, the more money. And so nowadays I'm kind of thinking it might be a little different sort of way of going about it. Because I'm thinking to myself, myself, you know, I played for 13 seasons. Yeah, I could have signed like, you know, two or three big deals. But once again, I think that if you're looking at this CBA and the things that are coming into play more from a floor perspective coming into play, rather than a cap coming into play. Because even if there is a cap, the Los Angeles Dodgers don't care about a cap. They're just going to continue to keep going over that. The deferred money that they have is going to be paid out for decades.
- [20:50]
Randall Williams
I'm not going to lie. I kind of like the spending that the Dodgers do like it's sort of like putting together a Justice League team of players.
- [20:57]
Nick Swisher
So true, bro.
- [20:59]
Randall Williams
I don't mind watching the Avengers.
- [21:01]
Nick Swisher
I actually happened to be in spring training earlier this year, and I was out doing some stuff with the Ausl girls in softball over at Dodgers camp, and all of a sudden, I'm sitting there and I'm watching Freddie Freeman and Mookie Betts and Shohei, and then all of a sudden, here comes Edwin Diaz and now Kyle Tucker. I'm like, bro, this is like the X Men. I mean, it really is. But once again, you know, when you have that money in place behind you like the Guggenheims do, it's easy to spend that money.
- [21:29]
Randall Williams
Yep.
- [21:30]
Nick Swisher
Like you said, I mean, it is nice having dynasties out there. I just wish they were coming more out of the Bronx.
- [21:36]
Vanessa Perdomo
Exactly. I was just gonna ask you your take on that. I mean, because you know better than anyone, the Yankees used to be famous for this, but it feels like it hasn't been like that in recent years. Why do you think that is? And do you think it's actually gonna change now that we can't keep up with the Dodgers right now?
- [21:50]
Nick Swisher
Yeah, I don't think anybody's keeping up with the Dodgers right now, Vanessa. I just think, you know, I think, listen, let's just overall look at the roster. Let's look at the coaching staff. I mean, Aaron Boone, I mean, he's. He's been around here for a minute. You know, there's nothing that should surprise him anymore. He understands the job at hand. He knows what he wants to do. And for my boss, Brian Cashman, you know, he's been very fortunate in his tenure as general manager to win a World Series with every manager that he has ever had. Aaron Boone is one of the nicest human beings on the planet. He's a great leader. Really interested to see how the season goes out for the boys this year. But once again, I think everyone knows the job at hand. I think there for a minute, the expectation bar was being lowered a little bit by saying, oh, yeah, we got to the playoffs. That was a good year. Well, we're New York Yankees. It's not a good year unless you win the World Series. And I think Derek Jeter proved that the core four guys set that tone, and I want to make sure that we continue to keep that bar at that level. I think just in general, it feels like, you know, once again, that talent has never really been the issue over in the Bronx. It's just really trying to figure out the little things that we need to do to get ourselves to be able to cross that finish line. Because, yes, you know, every team looks good on paper, but once again, you got to roll them out there and play it. So I feel like it's nice. Everybody's healthy, everybody's in a good spot. Really, really just excited to get off to a great end of March, early April, just to get out of the. Because that always makes things loosen up a little bit when you get off to a good jump.
- [23:15]
Randall Williams
Come April, Nick, you're going to be one of the co hosts for all the Smokes new baseball podcast alongside Matt Barnes. How did you meet him? How is this pod? What's this podcast going to be like?
- [23:26]
Nick Swisher
Oh, bro, it's going to be legit. I mean, you got to remember, like, Matt and I knew each other when he was back at Golden State and I was with the Oakland A's at the time. So Matt and I go back, you know, 15, 20 years. Matt is absolutely fantastic. Him and Steven Jackson, they do absolutely amazing, are fantastic. I think that you've seen a little bit of some of the interviews that myself and Matt have done as well as Cy, Chris Young and Matt have done. The Eric Davis interview was absolutely fantastic. Just being able to dig in on these guys and just to talk about things, just, you know, life, baseball, the game. I just think in general, I'm so honored. I'm so blessed. I can't wait. You know, I think that there is definitely that. That cross. That cross contamination from the baseball to the basketball world where, you know, all of us ATH appreciate each other. There's so much respect that goes in for that. And for myself, just being able to tag team with these guys and creating this, all the Smoke baseball side. Can't wait to get this thing going because I think it's going to be an absolute blast to be part of.
- [24:28]
Vanessa Perdomo
I mean, I can so see that for you, obviously, like, your personality just leans itself so, so hard for a podcast, I think.
- [24:34]
Nick Swisher
Who, me? Who me?
- [24:36]
Vanessa Perdomo
Tell us about, like, you know, well, obviously you're also an analyst and things like that. So how do you, you know, run these different parts of. Of your own empire? And how do you see yourself as a broadcaster versus a podcaster and all the different things?
- [24:50]
Nick Swisher
Yeah, I mean, listen, you know, it's crazy. Back when I was a player, you know, not all these things were available at the time. You know, I was thinking to myself, if. If this was in the prime of my career right now, I'd have a podcast going. I'd have all These things, all the content, rolling the whole nine. But once again, I just think for myself, the fact that I'm in this opportunity right now, I'm just going to roll it right. I feel like, you know, I've been so blessed to be able to chase projects for the passion of it rather than for the dollars. And so I think that's really, really helped me move my life forward. Jumping into the startup space a little bit. I've got a new eye tracking company that I'm working with which has been absolutely amazing. So can't wait to roll that out here really, really soon. I feel like you guys are hear about that. But I think just in general, man, I've just been so blessed. I've been able to have this amazing first career and since then just kind of being able to do so many different things. You know, I work for, you know, Fox, I work for Peacock, I work for the yes network on the analyst side, you know, did some stuff for espn. And then, you know, being able to be a special advisor and learning how the overall machine works of the New York Yankees from top to bottom. This is my ninth year of doing it. There's nothing in this organization that I don't know how it runs. And then overall, being able to work with the commissioner, being able to see how the big machine works, sort of the things that they have in the queue moving forward. For someone like me, I like my relationships are my superpower, my passion, my energy is my superpower. And so I'm just going to just roll this thing out. I feel like the only thing I'm really trying to do in life is leave a great taste in people's mouth because this life really is all about relationships. And I'm so happy and blessed that that was able to be relayed to me early in life because now I'm reaping the benefits of all those good things that happened in the past.
- [26:35]
Vanessa Perdomo
Well, Nick, it sounds like we can expect you to be in some sort of front office position, some sort of role going forward. Do you see yourself having a different sort of role? More front office, more ownership maybe in the future?
- [26:49]
Nick Swisher
Yeah, I think you're gonna find me back in the dugout one of these days. I feel like for myself, I just love this game too much not to. Right. Like, I love being part of a locker room. I love being part of a team. I feel like, you know, I was a glue guy and I think if I ever did get that opportunity to be a manager, I think that I think I'd Have a blast with it. I think I would create an absolutely epic staff. The vibes that would be rolling in and out of our locker room would be high. Listen, I know how hard this game is, and so I think just in general, you know, one of these days when my kiddos get off to college and Mama and I are sitting in the house by ourselves, I think we might find ourselves back in the Bronx. Hopefully, one of these days. I think being able to be a manager or a general manager for the organization that means the world to me would be such an honor and a blessing. So, yes, I do have aspirations to do stuff like that moving forward, but right now, where I'm at, I'm in a good pocket right now. I'm just. I'm just riding the wave.
- [27:51]
Vanessa Perdomo
We needed your vibes. We need your vibes at the WBC for Team usa. We needed those.
- [27:56]
Nick Swisher
I know. By the way, I mean, listen, I keep telling D Row, I'm like, yo, homeboy, you got to put me on that status. You gotta get me on that thing, you know?
- [28:04]
Randall Williams
I hear you. I hear you. So, again, one of the things we first talked about was the MLB's relationship with Ford. So many different MLB events happening this year. All Star Week, MLB at the Field of Dreams, World Series, of course. What can we expect from this partnership with Ford? Is it going to be on site activations, commercial and ad spots? Tell us one more time what to expect from the MLB in Ford.
- [28:28]
Nick Swisher
Well, once again, Randall, I think it's all of those things. I think that Ford is doing exactly what they say they're going to do. They're putting their money where their mouth is. They are investing in communities not only from the highest level, but they are now building themselves down into the grassroots. And I think that there is something gracious as well as. As amazing to be said for something like that. Really digging into the communities, having a real understanding of understanding of what this country was built on, as well as Major League Baseball being America's favorite pastime. It seems like the partnership is absolutely fantastic. The fact that I'm able to be here representing these two iconic brands is almost a dream come true for me. So we need some help in this world, and Ford is doing exactly that. Digging into the communities, putting their money where their mouth is, and helping give back to not only the baseball amateur world, but the softball amateur world as well. And I think that is absolutely amazing.
- [29:23]
Vanessa Perdomo
Thanks to World Series champion Nick Swisher for joining us. Up next, we're talking with former NFL player Teron Armstead on what he's doing to help other athletes in their next chapter. For Michael Barr and this week's co host Randall Williams, I'm Vanessa Perdomo. You're listening to the Bloomberg Business of Sports from Bloomberg Radio around the world.
- [29:45]
IBM Representative
The thing about AI for business, it may not automatically fit the way your business works. At IBM, we've seen this firsthand. But by embedding AI across hr, IT and procurement processes, we've reduced costs by millions, slash repetitive tasks, and freed thousands of hours for strategic work. Now we're helping companies get smarter by putting AI where it actually pays off, deep in the work that moves the business. Let's create smarter business Business IBM you
- [30:15]
Bloomberg Announcer
need to make a Huge presentation in an hour Adobe Acrobat uses AI to take all your documents and generate a presentation with a single click. Build slides quickly and streamline the process. Need a last minute pitch deck? Do that with Acrobat. Need to level up your presentation design? Do that with acrobat. You have 30 plus documents that need to be simplified into a proposal. Do that, do that, do that with Acrobat. Learn more@adobe.com do that with Acrobat.
- [30:47]
Public.com Announcer
Support for the show comes from Public. Public is an investing platform that offers access to stocks, options, bonds and crypto, and they've also integrated AI with tools that can assist investors in building customized portfolios. One of these tools is called Generated Assets. It allows you to turn your ideas into investable indexes. So let's say you're interested in something specific like biotech companies with high R and D spend, small cap stocks with improving operating margins or the S&P 500 minus high debt companies. Chances are there isn't an ETF that fits your exact criteria. But on Public you just type in a prompt and their AI screens thousands of stocks and builds a one of a kind index. You can even backtest it against the S&P 500. Then you can invest in a few clicks, go to public.com market and earn an uncapped 1% bonus when you transfer your portfolio. That's public.com market ad paid for by Public Holdings Brokerage Services by Public Investing member Finra SIPC Advisory Services by Public Advisors SEC Registered Advisor crypto services by ZeroHash sample prompts are for illustrative purposes only, not investment advice. All investing involves risk of loss. See complete disclosures@public.com disclosures this is Bloomberg
- [32:02]
Bloomberg Announcer
Business of Sports from Bloomberg Radio.
- [32:06]
Vanessa Perdomo
Thanks for joining us on the Bloomberg Business of Sports, where we explore the big money issues in the World of Sports. I'm Vanessa Perdomo. Michael Barr is off this week. A few weeks ago, Michael and I had the pleasure of speaking with former offensive tackle for the New Orleans Saints, Taron Armstead and Chip Palacek, who is the founder and CEO of Pro Athlete Community, a company Chip built out to gather pro athletes in spaces to discuss their post playing careers. This weekend is their flagship Summit Pack Accelerate, where they will gather over 400 professional athletes and executives to create intentional momentum. Chip Turon, thanks so much for joining the Bloomberg business of sports.
- [32:43]
Nick Swisher
I'm going to start with Chip. Tell us about the pro athlete community
- [32:49]
Teron Armstead
and what it's all about.
- [32:51]
Chip Palsik
So Pro Athlete Community, we started it three years ago. It is today the largest private membership organization of pro athletes. We think anywhere. It's a remarkable community of people that when you bring them together, put great people around them, it's impressive what they can accomplish given how elite they are both on and off the field. So people think of pro athletes and you think about their athletic ability, but the reality is athletic ability is table stakes to make it to pros. It's all the other facets of their makeup, grit, rigor, resilience, drive, teamwork that are directly applicable to their post playing life. So, you know, I'm honored to have Teron on our board among a really incredible group of people, Candace Parker, Devin McCourty, Jason McCourty, so on and so forth, who prove what post playing careers for great elite athletes can look like. We have this strong belief in a phrase called exposure breeds expansion. When pro athletes are playing, they are uniquely focused on sport in a way that can often be really challenging. And the transition out of sport is much harder than anybody in the world realizes. The world can be pretty unfriendly to a former professional athlete and it doesn't have to be that way. So by coming together, we put good people around, good people, both pros being around great pros across sport. And we're up to about 2,100 members now from literally 60 different leagues, but also putting people like me that have done stuff in business around the players for the right reasons, not the wrong reasons. And magic happens. So I've been honored to know Tstead for a long time now as a great Miami Dolphins fan. Of course what he did on the field is remarkable. But you look at what he's doing now as a former player, which by the way, I hate that people say retired like I'm 55, I'm nowhere near done. Who came up with the idea of telling pro Athletes that they're retired when they're in their 30s. It's ridiculous. Just a good example of the narrative around sports that needs to change. So Tstead is just an incredible example of what we really believe in, Pack, which is the, you know, pro sports will be your first meal, not your last meal. There's a ton of life ahead and a ton of greatness ahead. So getting pro athletes to think about it that way is part of our mission, but it's also a joy because they're just incredible people to be around.
- [35:18]
Vanessa Perdomo
Taron, can you give us your idea on that? And did you not like the word retired when you were done playing either? And what drove you to, you know, come together with Chip on this and what really interested you about the next chapter for athletes and for yourself?
- [35:35]
Teron Armstead
Yeah, I was, I was ready to be done. So I didn't care what word. Physically, I had reached my limits, you know, so it was time for me to step away from the game. I love the fact that Chip used meals as the analogy there because athletes, we have such an appetite for work and a schedule and structure, direction, and most times guys post career have no idea where to go with that appetite and you end up eating junk food. And Pack has changed that table. You know what I mean? If I can stay in that analogy, it's changed that table and allowed us to find a new roadmap and, and be around those who are approaching you for the right reasons, willing to teach to, to. To walk you through, to also use your talents and abilities, your strengths, things that you do really well from a communication standpoint. Teamwork, leadership, execution, being showing up on time, all those skills that are valuable in the corporate world that are also parallel in sports as well. So PAC has been incredible. It's been, it's been an answer for a lot of. Of athletes, current and former, to find their new path, new passions, new desires in a healthy way. We're talking with Chip Palsik and Teran Armstead. Chip is the co founder and co CEO of Pro Athlete Community and Teron is a PAC board member.
- [37:07]
Nick Swisher
Chip, I want to ask you, what
- [37:10]
Teron Armstead
are the biggest mistakes athletes make with their money after they're done playing?
- [37:15]
Chip Palsik
Well, you know, people love to talk about athletes making mistakes with money, but I think it has a lot more to do with getting your head and heart right even before you think about the story of how to be smart about your business and your money. And a lot of that comes down to having great people around you. And so one of the things you find Is that if we can put great people around great people, not only will you progress, prevent mistakes, but you'll drive much greater opportunities for the players. So I think the narrative around sort of 30 for 30 broke. When people think of pack, it's the first thing they think of. They think of this notion that, oh my God, these pros, they spend their money foolishly and they're going, they're going broke and they don't realize how challenging that whole setup can be. When you know you were the 1% of the 1% of the 1% of the 1%, you know, you're not just the best athlete, athlete in your high school, you're the best athlete in your hometown and sometimes in your state. And you've been uniquely, passionately focused on the athletic pursuit. But you know, like, so I was a public company CEO for 10 years. My last company got pretty big. I took it public and became one of the bigger online education companies in the world. The reason I say that is not to, you know, not to brag about my story when I was doing that. The transition out of it is extremely challenging when you have this big apparatus. And what's interesting about pros is when they're in the games, it doesn't matter what game. The transition from the sport into the rest of the world. When I was a public CEO, my board was interested in me being well rounded and having other pursuits. When you're playing, and Tstead can talk about this, the world doesn't want to hear about you doing anything but playing football or playing basketball. And even worse than that, if you're a player that isn't at the top, you know, and granted Tehran was one of the best left tackles in the league, honestly. But if you're a bubble player, you're really worried about getting cut if they hear that you're doing anything but football. One of the reasons we have a bunch of career accelerators so, you know, we help people get jobs, there's no shame in coming out of the league and going to get a job. Some guys, guys didn't make a ton of money in the league. The entire notion really of pros going broke, there's no question the financial literacy is part of pac, but he is actually a surprisingly small part of pac. There's much more to this story. And as a founder of companies, the fact that there was no YPO for pro sports kind of blew me away. As a founder or CEO, there's a bunch of affiliation groups that are, are continually asking you to join. How is it possible that there wasn't this for pro sports. Well, now there is and I feel like we're, you know, we're seeing the benefit of it just with the sort of global growth that we're getting.
- [40:04]
Vanessa Perdomo
And Tron, what. When you're having conversations with other athletes and you're talking to other members of the community, what are those conversations like when they are thinking about transitioning or even not like, like Chip had mentioned, you have to start thinking about this right when you're still playing sometimes. So what are those conversations like with other athletes? For years you.
- [40:24]
Teron Armstead
It's been, it's been great honestly, to see the evolution of conversation from athletes. When I first got into the, into the NFL 2013, we had zero discussion of business, zero discussion of anything outside of the sport. So I'm drafted to New Orleans with the Saints and the only guy that I know is doing business was Drew Brees. And it's been great over my 12 year career and being a year removed to see the evolution of that change. And the conversations start in the locker room room, Guys having deal flow conversations, guys partnering, really pursuing business opportunities and different ventures while playing, while active, planting seeds outside of the building, outside of the locker room. Tremendous. And it, and it needs to continue. The education of finance needs to continue. The education of business needs to continue more than just doing deals and throwing money at situations, guys that can do that. But, but continuing to have those conversations continue to make that a part of our new normal is exciting.
- [41:27]
Vanessa Perdomo
And when did that start changing, do you think? Like when did you see the change in the locker room? And what drove it, do you think?
- [41:33]
Teron Armstead
Honestly, I would say Covid, removing us from the normal locker room, removing us from the game in a lot of sense too put a lot of things into perspective. How easily this can be gone or taken away or come to a halt. I think it allowed guys to pursue more interests to. To find other things to keep them busy, to put their time, effort and energy behind. I think covet was it propelled these conversations in the. The business mindset to start to set in and the majority of athletes across all sports.
- [42:16]
Nick Swisher
I want to give Tehran a shout
- [42:18]
Teron Armstead
out because I always love talking about these. You founded the Taron Armstead Foundation, a nonprofit organization. Tell us about that. It's been. This foundation has been a journey.
- [42:30]
Nick Swisher
Okay.
- [42:31]
Teron Armstead
So I started it my second year in the league. We've been active now for 12 years and I had no idea what I was doing, doing. Honestly, I didn't just being around the game. I hear guys talk about programs that they came up in, whether it's boys and girls club or YMCA leagues and all these things. In my hometown in Southern Illinois, we we didn't have any of those. So when I got the opportunity to not only start my foundation and do giveaways and give backs and all those things to be active in the community, but I built a community center. I bootstrapped it completely. I wouldn't advise anyone to do that. All right, I learned a lesson in finance there. But it's active and we have a 40,000 square foot facility, two conference rooms, two event spaces, eight classrooms, computer lab, game room, music studio. We just opened up our tutoring program and the goal really is to educate, introduce, expose Chip his the like the mantra the slogan of PAC is exposure breeze expansion and we've adopted that in my at Team Armstead Community center to where we're trying to expose the community to industries and walk a lot different walks of life that they don't even know exists. Honestly, where I'm from is sports or music. And by music I mean rap. That's it. So we're really trying to expand the minds. So many career paths to be to be had but getting the education first. Always putting education as the foundation of no matter what you're doing, putting education as a foundation and growing from there.
- [44:08]
Vanessa Perdomo
That was Chip Pawsek, the CEO and founder of Pro Athlete Community and former NFL player and PAC board member Tron Armstead. That's it for today. Thanks for joining us. Tune in again next week for the latest on the stories moving big money in the world of sports. And don't forget to catch our podcast on all your podcast platforms. And go to bloomberg.com to subscribe to the Bloomberg Business of Sports newsletter to stay up to date on all our juicy insights. You're listening to the Bloomberg Business of Sports from Bloomberg Radio around the world. Stay with us. Today's top stories and global business headlines are coming up. Right now,
- [44:48]
Bloomberg Announcer
if you follow markets, you know the value of long term thinking. You plan, you diversify, you prepare for volatility. But even the best strategies can't prevent every bad day. For more than 75 years, Cincinnati Insurance has helped individuals and businesses navigate tough moments with expertise, personal attention and independent agents who focus on relationships, not transactions. The Cincinnati insurance companies. Let them make your bad day better. Find an agent@cin fin.com.
- [45:27]
Nick Swisher
With Voli from iShares. You get access to both monthly income and growth potential in one simple etf. It's the best of both worlds. Discover Bali Ishares Large Cap Premium Income Active ETF iShares the market is yours. Visit www.ishares.com to view perspectives for investment objectives, risks, fees, expenses and other information that you should read and consider care carefully before investing. Risks include principal loss and the use of derivatives, which could increase risks and volatility. Monthly income is not guaranteed. Prepared by BlackRock Investments, LLC. Deadlines shift, plans change, and sometimes you just need promo products fast. Turn to 4imprint 4imprint has hundreds of
- [46:01]
Chip Palsik
promotional items available with 24 hour turnaround,
- [46:04]
Nick Swisher
from custom apparel and drinkware to trade show gear, writing tools and more. And their 360 degree guarantee promises your logo will be printed with care, your order ships fast and it'll show up right and on time. That's the certainty of 4imprint.
- [46:20]
Chip Palsik
Check out the full 24 hour selection
- [46:21]
Nick Swisher
at 4imprint.com for Imprint for certain.