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00:00 Speaker A
when you look at this ETF and sports-related, um companies in general, how should people be sort of thinking about what role it plays in their portfolio? Is it is it growth? Is it defensive? Is it something else?
00:10 Speaker B
I think it’s a little bit of everything. It’s it’s in many ways what we would call the anti-AI play. Um obviously AI is is going to be the theme in the market for the foreseeable future. There’ll be ups and downs and this is a I think a pretty steady, defensible theme that’s not directly related to AI. Hard to displace, disintermediate with AI. But there are a lot of growth opportunities, um especially as the uh universe of buyers for sports franchises widen. That’s one point we haven’t talked about. There have been some recent changes in league rules that allow private equity and sovereigns to participate. Seen that already and think that continues.
00:54 Speaker A
So, in terms of catalysts this year, that would be, I guess, something that you would be potentially watching for.
01:01 Speaker B
Definitely. Uh and you know, you just look over the last three months, you’ve had the Lakers, the New York Giants trade for over $10 billion. Toto Wolf’s F1 team, uh trade for over $6 billion. So these prices keep going up. And we think that probably continues.