Podcast Summary: Bloomberg Business of Sports

Episode: NFL's Kansas City Chiefs Announce Move to Kansas; The 85ers Tell Their Story
Date: December 26, 2025
Host(s): Michael Barr, Vanessa Perdomo
Featured Guests: Maxwell Adler (Bloomberg municipal finance reporter), Brandon Steiner (Collectible Exchange), Michelle Akers (USWNT legend), Laura Gentile (Founder, ESPNW / Storied Sports)

Episode Overview

This episode explores two major stories from the business side of sports:

1. The Kansas City Chiefs’ announcement to move from Missouri to Kansas—unpacking the financial and political drama behind the relocation and what it signals for stadium funding and sports real estate.
2. The "85ers" Story—original US Women’s National Team icons Michelle Akers and Laura Gentile discuss the drive for recognition, equity, and athlete empowerment in women's sports, plus the creation of an athlete-owned LLC.

Key Discussion Points & Insights

1. The Kansas City Chiefs' Move to Kansas

Guest: Maxwell Adler
Timeframe: [03:08]–[14:20]

Motivation and Political Backdrop

• Kansas City Chiefs will relocate from Missouri to Kansas after Kansas legislators approved a hefty finance package for a new $3 billion stadium.
  • “Kansas gave them more public money than Missouri was willing to offer… voters in Kansas City… voted down an extension of the sales tax that would have funded a new stadium or a renovation of Arrowhead Stadium.” – Maxwell Adler [03:59]
• The move follows a trend of waning public willingness to subsidize billionaire-owned franchises.
  • “Voters aren't willing to be giving billionaires this much money.” – Maxwell Adler [05:25]
  • Similar spending fatigue noted in other cities (e.g., Tempe).

Fan and Community Impact

• Missouri voters’ rejection led to loss of the team (barring last-minute miracle), but the move is mostly symbolic—fans won’t travel much farther.
• Emotional blow to decades-long fans: “There’s a lot of history there and there’s a big attachment to the Chiefs in Missouri… there was a strong emotional attachment and people are mad that there’s going to be change.” – Maxwell Adler [05:25]

Kansas' Sports Ecosystem

• The new stadium would sit near existing sports facilities (NASCAR, MLS).
• Chiefs’ headquarters and training facilities expected to be part of mixed-use entertainment districts, reflecting a modern stadium finances trend.
  • “Every single owner right now is trying to develop commercial entertainment districts around their stadiums… a huge portion of the value of your team comes with the real estate.” – Maxwell Adler [08:03]

Missouri's Last Stand

• Missouri proposes a smaller, quarter-cent sales tax for stadium renovation, but a similar measure recently failed.
  • “Voters in Kansas City rejected a 3.8 cent sales tax… by 58 to 42%. So… I just don’t know how likely it’ll be that that actually passes.” – Maxwell Adler [09:56]

Broader Trends and Reflections

• Privately owned sports facilities (e.g., NWSL’s Kansas City Current stadium) may be the new minimum for teams wishing to remain or thrive in certain markets.
• Chiefs’ tumultuous season compounds the blow for fans—loss of Patrick Mahomes to injury, missing the playoffs, and now losing their stadium.
  • “Chiefs fans are so accustomed to winning… and this season was a big bummer for their fans.” – Maxwell Adler [11:51]
  • Humorous aside: linkage between the team’s downturn and the jailing of the superfan “Chiefsaholic.”

2. Sports Memorabilia and the Business of Nostalgia

Guest: Brandon Steiner
Timeframe: [17:09]–[28:55]

On Entrepreneurship and Collectibles

• Steiner’s journey from childhood entrepreneur to sports memorabilia giant, stressing the importance of identifying untapped markets and “white space.”
  • “When you’re entrepreneurial, you have to have an attitude that first of all, you gotta find the white space—what no one else is doing.” – Brandon Steiner [18:08]
• Personal touch: Insight from his late mother and wife fueled business directions and collecting philosophy.

On Collectible Exchange & Downsizing

• Addressing the problem of what to do with vast collectible collections as fans age.
  • “70% of the wealth in this country is with people that are over 60… more people are downsizing… you gotta get your estate in order… people don’t know what to do with this stuff.” – Brandon Steiner [21:44]
• Introduction of Hobby Scan—an app to quickly assess and value trading cards.
• Emphasis on authentication and responsible selling; providing a “vault” for items to be safely stored and sold.

Stadium Pieces & Emotional Value

• On selling "pieces" of demolished stadiums: seats, turf, even goalposts—emotional keepsakes for fans rather than investment vehicles.
  • “If you sat in this stupid seat and you sat there for 20 years in the freezing cold, like the Buffalo Bill super freezing cold Bill's mafia… you've got to have that seat in your living room or on your deck.” – Brandon Steiner [23:53]
  • “I don’t get on a soapbox telling you that if you buy a lot of this, one day you’re going to be rich. I tell you that you're going to have a lot of joy remembering all the moments you had in that stadium.” – Brandon Steiner [25:05]

On Changing Demographics

• Notable jump in women’s interest in sports collectibles—traditionally male-dominated, now a much more balanced space.
  • “The women ain’t there for the guys… They are extremely knowledgeable. They’re fanatical as anyone… They ain’t buying it for their husband. They're not buying it for their dad.” – Brandon Steiner [27:06]
  • While still not “50/50” male/female, growth amongst women is significant and changing the collectible market’s dynamics.

3. The 85ers and The Push for Women's Sports Equity

Guests: Michelle Akers & Laura Gentile
Timeframe: [31:49]–[43:31]

On Equity & Recognition in Women’s Sports

• Michelle Akers, a USWNT pioneer, recounts the struggle for pay and respect throughout her 15-year career.
  • “Every year I expected it to be equal.” – Michelle Akers [33:00]
  • “You should be happy to be here. But I was like, I am happy to be here and pay me for being here. So we're building this incredible women's sport that impacts women off the field, but also builds stadiums.” – Michelle Akers [34:34]

On Athlete Ownership: The 85ers’ LLC

• Launching the first athlete-owned LLC as a means to own, monetize, and control their legacy for the original team.
  • “Right now is like the perfect time for people to invest in women's sports, but also for women to invest and own their sport, own their story, own their careers… trailblaze this new ‘own your own legacy’ into the future.” – Michelle Akers [36:36]

History and Growth of Women’s Sports

• Laura Gentile, founder of ESPNW, on the business and cultural tailwinds behind women’s sports.
  • “Women's sports was ascendant… female athletes have stories to tell that are untold… It’s Michelle and it’s Pele, period.” – Laura Gentile [38:10]
• Gentile and Akers reflect on the unique DNA and expectations built into the USWNT from “day one”—winning games and building the sport are seen as twin responsibilities.
  • “Part of your job of being a player on this USA team is to win everything… Your second job… is to build the sport and create more opportunity.” – Michelle Akers [41:25]

Community, Leadership, and Next Steps

• Gentile: Now there’s a visible pipeline of women owning teams, acting as commissioners, and sponsors investing.
• Akers: The increasing audience and commercial value are evident—stadiums across the world (not just in the US) are being filled for women’s matches.
  • “That 99 World cup filled stadiums, 90,000, 80,000 seat. And that showed the rest of the world, this game is here to stay.” – Michelle Akers [43:31]

Notable Quotes & Memorable Moments

• "Voters aren't willing to be giving billionaires this much money."
  – Maxwell Adler, on the national trend against public stadium subsidies [05:25]

• “I don’t get on a soapbox telling you that if you buy a lot of this, one day you’re going to be rich. I tell you that you’re going to have a lot of joy remembering all the moments you had in that stadium.”
  – Brandon Steiner, framing memorabilia as emotional investments [25:05]

• “Every year I expected it to be equal.”
  – Michelle Akers, on 40 years of waiting for pay equity in soccer [33:00]

• “Women athletes leaning on each other, learning from each other, building out our own network of advisors and decision makers… in 2025, women investing in sports themselves, women owning teams, women as commissioners and driving growth.”
  – Laura Gentile, on the accelerating leadership shift in women’s sports [39:36]

• “Part of your job of being a player on this USA team is to win everything you have to win. And then in order to build the sport and create more opportunity, that's your second job.”
  – Michelle Akers, on the USWNT’s legacy-building mindset [41:25]

Timestamps for Key Segments

• [03:08] – Kansas City Chiefs move: Financial and political background
• [05:25] – Fan backlash and the emotional cost of relocation
• [06:56] – Kansas’ sports ecosystem and the business model of mixed-use districts
• [09:36] – Missouri’s last-ditch effort and the likelihood of success
• [11:51] – Fan reaction to rough season and losing their team
• [17:09] – Brandon Steiner on entrepreneurship and collectibles industry
• [23:53] – Emotional value of stadium memorabilia
• [27:06] – Growth of women’s interest in sports collectibles
• [31:49] – The 85ers, pay equity, and athlete-owned LLCs
• [38:10] – Media’s impact and the untapped market in women’s sports
• [41:25] – The USWNT’s dual mission: win and build opportunity
• [43:31] – Legacy and global growth in women’s soccer

Overall Tone & Takeaways

The episode is a blend of business realism and optimism—the hosts and guests deliver candid assessments of political and economic realities, but with enduring faith in sports’ power to shape cultural and financial landscapes. There’s humor (occasionally self-deprecating), camaraderie, and a keen sense for history, whether in old stadium turf or the untold stories of women’s soccer.

If you want to understand the business forces that move teams and shape what fans get to experience—on the field and in the stands—or hear a thoughtful, passionate case for why women’s sports are on the cusp of a new era, this episode delivers.