76ers' O'Neil, StubHub's Cutler, on New Ads on Jerseys (Audio)

jersey's beginning next year. Find out why the leaders of both the seventy sixers and the stub Hub group feel this is going to be a success. Pim and will also, I guess, be wondering what that two and a half by two and a half inch logo patch. Maybe find out a little bit how much it costs to get that on the jersey. But right now, let's go to Charlie Peel and Bloomberg newsroom for a Bloomberg Business Flamanda. Thank you, Pim, thank you, Kathleen. We're brought to you

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Business Flash, Charlie Pellett, thank you so very much. Big news as the seventies Sixer is announcing today the ticket company's StubHub will have its logo on the team's jersey's beginning in the eighteen season, when the NBA decided a three year pilot program will start the first team and the four major U sports to sell an ad on a jersey. So we sat down with Scott O'Neil, the CEO of the seventies Sixers, and Scott Cutler, president of stub Hub, to discuss what this means for the team

and for the sport. The NBA continues to set trends and while this is very commonplace in Europe, the four major sports in America have yet to put a logo on the jerseys. And you have a commissioner in Adam Silver who is a true leader and a visionary and continues to provide opportunities for teams to drive engagement with their fans and in the end of the day, increased revenue. So, Scott Cutler, stub Hub continues to build its brand and to take the franchise, take the business in all kinds

of new directions. What does this mean to stub hub For us as a brand, this is about brand consideration and the thought that individuals going to event experiences can connect emotionally with the brand, and it's important for us to be on that jersey because that's where the emotive experience is contained, and that's where the moment is captured and we want to be associated with that emotion. Okay, it's not just about emotional, it's about the bottom line.

It's about money. So, Scott O'Neill, what's in it for the seventies sixers from the revenue standpoint, Well, we've had a long standing relationship with with stub Hub. We've worked on a really incredible ticketing platform that will launch this fall. We have the Jersey patch. The way we look at partnership is we are successful if we help drive your business, and if we can do that with a partner that's part of the overall fabric of the sport, it's better UM.

And this is a good example of that. In terms of revenue, of course, there's always an exchange of goods for services. That's that's UM in the American way for some time UM. But but for us, this is much more about do we have the right partner that are is led by the right right people in this case Scott Cutler, that have the same values that we share about innovation and breaking through and doing things differently and being first, but yet all on the confines of moments

and memories, because that's the business we're actually in. Cutler, the same question to you. I mean, this is kind of an historic move in the world of professional sports, StubHub helping to lead the way. What does it mean for your penny? Again in terms of revenues, in terms of building the brand, it's a big moment in time, and it's the opportunity for us as a corporate brand to be the first in American sports history to be

on the jersey. And so it's huge for us as a brand, and I think it's a moment in time where we're going to look forward from here and say, this is the first time that we've connected with a fan in a unique and experiential way. And so for us, that's super exciting, and it's great to be the innovator, to be partnered with an innovator, and to be first in this initiative. You're either gonna love this or hate this, but we have some fun activations around this. I actually

love this. So we called the U S Constitution, the Constitution Center in Philadelphia and asked if we could put the jerseys with the stuff Hubbalo Goo on each of the founding fathers and the Constitution Center loba the fact the pictures are spectacular, it's really fun. And we did and and and on Wednesday, we're gonna roll down the kind of the iconic Rocky Steps in front of the Philadelphia Art Museum a big stuff up jersey that will

cover all the stuff. So we're doing some fun things, like at the end of the day, this is sports entertainment and and we're trying to engage fans. I mean, this is not rocket science, but there's certainly an opportunity to have some fun, drive some business and make sure we do it in a tasteful way that that encourages more and more fans to experience stubbub in the sixers. Over the years in professional sports, there seemed to be more and more fans who are just a little jaded.

You know, at one time you joined a team and you stayed with that team for years and years, right, you were part of that that town, in that city's fabric. I think more and more a lot of people view professional sports players as higher guns. You know, you play where the money is highest. So does this move then putting the logo on the jersey, does that just turn players more and more like to walking billboards. Is there any chance that fans will will will not react positively?

I don't know. You know this is so you know, if you go to Europe and I've seen football games in Europe and hockey games in Europe and basketball games in Europe, and it's really commonplace. I think what's important and too, in particular millennials, is that is it part of the fabric of the experience. I just had one other thing. I mean, for us, we're gonna be on this jersey in this moment in time, and so for

the fans during this period of time. This is going to be the time where this jersey actually means something in the legions of history, and I think having that connection at this moment in time like that's gonna be really important for us. Speaking of this moment in time, Scott Cutler, as president of stubhob, I just have to ask you, who are you in any talks with the New Jersey Devils, which your good friend Scott O'Neil here is very intimately associated with, going to do the same

thing with him. Well, it's this is a this is a league deal, so first has to be approved by the lead. The NBA is the first um and all were exclusive with the Sixers, So I don't know. Maybe Scott has a view on that. We should talk afterwards. But this was a good lead in Okay, Well, I think so too. Just just about the team in the kind of year you had last year, the year looking you know this year, are you a little bit frustrated

with the performance before? No, you know, it's all been part of a process that we've gone through over the last three years to make sure that we are building up enough assets and momentum to start, you know, And so we hate ground zero last year, and so now we walk into tomorrow is the NBA lottery where we'll have an opportunity to get a very high draft pick, maybe two. We've got fifty million dollars in cap space, we have a new GM Brian Colangelo, who's a tremendous dealmaker,

and so we think we're poised to go. So it's it's times been three years of very difficult basketball and that is over. In the next phase will be a lot more fun, and that will be a lot happier and nicer. Well, maybe I'll be calling you both for some advice on how to get stub Hub on the Kathleen Hayes taking stock Bloomberg Radio Jersey, Scott O'Neill, chief executive of the Philadelphia seventies sixers, as Scott Cutler, president

of stub Hub. And as for the cost of the placement on the jersey, according to a league official who last not to be cited by name, five million dollars a year. This is Bloomberg Radio Lumbertaking Stock is brought to you by Commonwealth Financial Network. When it's time to change the conversation, talk with a broker dealer r I A that's ready to listen called eight six six four six two three six three eight, or visit commonwealth dot com to learn more.