Bloomberg Business of Sports

Episode Title: MLB Strikes New Deals With NBC, ESPN & Netflix; Jordan Spieth's 'Crush It Cup'
Date: November 21, 2025
Hosts: Michael Barr, Vanessa Perdomo, Damian Sassauer
Featured Guests: Hannah Miller (Bloomberg News), Joey Levy (Better), Jordan Spieth (PGA Golfer)

Episode Overview

This episode spotlights the business and broadcast future of Major League Baseball through newly inked deals with NBC, ESPN, and Netflix, exploring implications for fans, media, and streaming. The team also covers sparking headlines around sports betting scandals and industry innovation, and features an in-depth interview with three-time golf major champion Jordan Spieth on his “Crush It Cup” charity event, family, and the state of professional golf.

Main Topics and Segments

1. MLB’s New Broadcast and Streaming Deals

(Starts ~03:24)

Key Points:

• MLB agreed to new broadcast packages worth about $800 million with NBC Sports, ESPN, and Netflix.
• NBC re-enters MLB coverage after over two decades, bolstering its sports content portfolio.
• Netflix obtains exclusive rights to special events, such as the Home Run Derby, Opening Day, and the Field of Dreams game—furthering Netflix’s approach of pursuing high-profile one-off live events instead of full seasons.
• ESPN retains MLB rights at the same $550 million annual price but dramatically reconfigures the deal to focus on streaming integration and more regional/local games, aiming for flexibility and alignment with evolving fan habits.

Notable Quotes:

• Hannah Miller:

  "Netflix also got the Field of Dreams game, which is really fun. ...Netflix, they don’t always want to go for a full season of a sport. They like those one-off events." (04:36)

• Michael Barr:

  “NBC and Peacock, we'll just call them Sunday because they're getting all the games.” (05:49)

• Hannah Miller:

  "There's this constant issue of fragmentation…making it hard for fans to know where to go to watch their favorite teams." (06:09)

• Damian Sassauer:

  “As a consumer, where do you go?” (06:58)

• Hannah Miller:

  “Commissioner Manfred’s big goal here was to get all of the rights to kind of expire at the same time…so they can kind of consolidate and get as big a package as possible three years out.” (07:56)

Concerns Highlighted:

• Increasing fragmentation and complexity for fans as rights are split among many platforms.
• MLB’s effort to synchronize rights expiration by 2028 to foster a more powerful future deal cycle.

2. Sports Betting: Scandals, Regulation, and Industry Changes

(Starts ~08:28)

Key Points:

• Ongoing baseball betting scandals, including the recent case involving two Cleveland Guardians pitchers, raise questions about the sport’s integrity and the role of prop bets.
• MLB and Commissioner Rob Manfred’s response: capping prop bets at $200 and emphasizing cooperation with Senate inquiries.
• Larger concerns around sports betting’s reach—across MLB, NBA, and worldwide—fueling scrutiny of integration with broadcasts and tech platforms.
• Growth of prediction markets like Kalshi, and increased visibility and normalization of gambling in sports.

Notable Quotes:

• Hannah Miller:

  “Betting is just becoming more and more pervasive. ...There has always been a gambling culture in sports, but it’s just much more in your face now.” (10:46)

• Joey Levy (Better CEO, later in episode):

  “While there’s been some disappointing...scandals...these developments are actually a really good reminder of why it’s so important for gaming to be regulated and kind of above board and with a spotlight on it.” (26:26)

3. The Evolving Sports Media Marketplace

(Starts ~11:20)

Key Points:

• Major broadcast rights for other sports (Premier League, UFC, NASCAR, and eventually NFL) are coming up for negotiations in the next few years, expected to drive substantial financial deals.
• Contrast between previous long-duration rights deals (10–15 years) and the current trend for shorter, more flexible two to three-year contracts.
• Economic uncertainties may impact the size and frequency of future record-breaking media rights deals.

Notable Quotes:

• Damian Sassauer:

  “I remember…10-year deals, 15-year deals. Now we’re talking two, three-year deals. It just seems really, really competitive.” (12:07)

• Hannah Miller:

  "For the NFL, it’s gonna be, it'll be really interesting to see what happens. It’s gonna be big, big money." (12:45)

4. Sports Betting Innovation & Audience: The Better App

(Starts ~16:26)

Key Points:

• Joey Levy, CEO of Better, defines the company’s approach as a “super app” for real-money gaming, offering multiple products—social sportsbook, skill-based arcade games, and more—within a seamless, single platform targeted especially at Gen Z and millennials.
• Emphasizes pop culture relevance, using media personalities like Jake Paul and partnerships with the Ball Brothers to reach younger, digitally savvy fans.
• Aims to build both a gaming platform and a broader lifestyle brand, transcending conventional sports betting demographics.

Notable Quotes:

• Joey Levy:

  “Better is actually the most followed sports gaming brand on social media right now. ...We do a good job of really catering to the next generation through a lot of the content that we create on social media.” (17:11)

• Joey Levy:

  “Our customer acquisition cost this NFL season...has been only $50, which is likely an order of magnitude more efficient than competitors.” (24:13)

• On Regulation and Scandals:

  “If the market were not regulated...these scandals would have never come to light.” (26:26)

5. Jordan Spieth: The “Crush It Cup,” Family, and Golf’s Future

(Starts ~29:45)

Key Points:

• Jordan Spieth discusses his “Crush It Cup”—a youth golf charity raising substantial funds and engaging young players across the country.
• Emphasizes inclusiveness, mentorship, and fostering the next generation of golfers.
• Shares personal reflections on family, especially the impact of his younger sister Ellie, who has special needs, on his perspective, character, and philanthropic drive.
• Talks about using his platform to make a difference both in and out of sport.
• Reflects on his legendary 2015 season at age 21 and ambitions at age 32 to recapture that peak form.
• Weighs in on ongoing PGA and LIV Golf division, expressing hope for future unification under the right circumstances.

Notable Quotes & Memorable Moments:

• Jordan Spieth (on the “Crush It Cup”):

  “It’s not only a golf tournament. Everyone who’s here, they’re here because they raised a significant amount of money...going to support our foundation, which will go back into junior golf." (30:17)

• On mentoring kids:

  “They're never short on questions...Sometimes it does [focus on golf], sometimes it doesn’t. ...It’s just—they’re kids, and it’s fun to be a kid for a day.” (32:07)

• On family’s influence:

  "Perspective is probably the number one key...recognizing that when you do have a platform, it is important...that it can make a difference. ...It's been super fun to...be what, 12 years into...a foundation now and all that we've been able to do with it." (33:36)

• On competing and charity:

  "These golfers played 15,000 holes raising $118,000 just through this initiative." (36:18)

• On recapturing his peak:

  "I'm 32 now, but 10 years removed from that season...32 is still right in the middle for golf. ...I’m pretty fired [up] to try to, you know, touch that level again." (39:49)

• On PGA and LIV split:

  “Everyone’s kind of running at their own pace. …I think you focus on trying to make the best product that the PGA Tour can have and then however else it’s gonna fall, it’s gonna fall.” (40:14)
  “I think [unification] would be helpful for the sport, but under the correct terms, under the right way to bring it back together.” (41:17)

Important Timestamps

• MLB media deals and fragmentation: 03:38–07:56
• State of sports betting scandals: 08:28–11:20
• Future of sports media rights: 11:20–13:11
• Interview with Joey Levy, Better CEO: 16:26–28:37
• Interview with Jordan Spieth: 29:45–41:51

Tone and Style

The episode is direct, insightful, and conversational, blending deep expertise with a light, affable rapport among co-hosts and guests. Industry analysis is balanced with human stories—especially in the Jordan Spieth segment—which brings the big-money themes of sports business down to a personal level.

Summary for New Listeners

If you haven’t tuned in:

• You’ll get a clear, jargon-free explanation of why MLB’s new media deals matter, what they mean for fans, and why watching your favorite team is about to get even more complicated.
• The episode weaves in timely commentary on the explosion—and risks—of sports betting, why regulation matters, and how companies like Better try to use social reach to build the next big thing in gambling.
• The highlight is Jordan Spieth’s candid reflections on charitable work, family, adversity, and evolving professional golf. Even if you aren’t a golf fan, his approach to money, meaning, and mentorship resonates on and off the green.

Memorable Closing:

• Michael Barr (to Jordan Spieth):

  "Well, I have never seen Damian come in the studio early. And when they said we’re going to talk to Jordan Spieth, Damian was like, oh, let me get my shoes." (41:31)

You’ll walk away with a fresh understanding of the rapid shifts in sports media and gambling, and the enduring human stories behind the headlines.