Never lover. I bet another one who bag and back on my legacy. Alright, guys, welcome back to another episode of The Bag, brought to you by Sports Illustrated and I Heart Radio. I'm your co host for Sean Jennen's and my beautiful co host, Lendsay McCormick cannot be with us today, so I have a handsome man over here by the name of David Melts. Appreciate your feeling in how you doing today. I'm good man. I'm gonna up the audio game. But of course it's a complete uh depreciation individuals. So I'm a big fan of Lindsay's and uh, I will try my best to make sure that my content will overcome the face for radio that you're looking at right now. Let's get straight into this. Dan Snyder bought the Washington rail Scans in nineteen and for eight hundred million dollars, and with all allegations going on, he's having to sell it, and he's selling it for a magical number of eight billion dollars. And to give the reference points, um, the New York Mets Soul at two point four billion dollars in two thousand twenty one, the Carolina Panthers soul at two point two billion dollars to two thousand nineteen. In the Brooklyn Nets soul for two point three billion dollars to two thousand nineteen. So just a few months ago, um the never Bronco soul for four point six billion dollars. So we see the number gradually increasing. But now that's a magnificent jump to eight billion dollars that the Washington Commanders are up for sale. Do you think that number is outrageous or is it right on point? I think it's a little bit high. But who am I to say when you have such a limited commodity, a limited asset that is directly attributed to the richest people on earth, and so as you have more of the richest people on Earth into the hundreds of billions of dollars. Uh, it's an ego purchase that eventually has always been determined to meet or exceed its value. And people thought, you know, my friend over here in l A was crazy for buying the Clippers for two billion when he did. Uh, And I will tell you that as outrageous as eight billion dollars, that seems a little bit high. I am not so sure. There may not be some multibillionaire whose ego uh and his longevity of perspective value can easily justify eight billion dollars. Believe it. I think the biggest detriment Rashot is you and I both know the game very well. We know the business of the game very well. There's a lot of legal baggage that would interfere with the security of such a purchase. So as much as we can go ahead and speculate on the price, the biggest problem will be whether it's four point seven billion, seven billion or eight billion. The problem is through due diligence of a multibillion dollar acquisition. There's so much nasty dirt in this deal that I think that's what's going to be the biggest inhibitor for the sale of the team at any price, let alone eight billion dollars. Yeah, with that kind of number, is is eye opening. And so you know, we just actually saw what's what I just went for forty four billion dollars right, And you know it was funny to see. Actually Elam was coming there with the sink saying, let that sink in. I'm still trying to sink this in. Um, so you got you got some You've got some big key players and Jeff Bezo, Jay Z Coming, Durant, Matthew McConaughey, just to name a few names that have been out there in the pool of potentially bidding. I'm curious on your thoughts that if Jeff Bezo byz Um, Jeff Bezo owns the licensing rights to Thursday Night Football, he as the owner of the Washington Post and then possibly being the owner of the Washington Commanders. It seems like he's really heavily invested in football. Uh. Do you think that will tilt his power to make decisions over what the game looks like? I absolutely do. But I also think that there's older owning owners the Hunt family, the Rooney family, the Jones family h that also have a great influence uh throughout history of the game. And you'll find that although he has some special interests involved, that they're probably for the betterment of the entire league. Um. And I think some of the owners are going to see it as a considerable value to have him in the league, and of course other owners that may have a more egotistical priority or power uh play themselves, may see him as a threat. I think overall, it won't be uh something that will get in the way of his purchase. I think his purchase. The difficulty, once again will be when the emails unravel. You know this, this runs deep for decades. Uh In Dan Snyder has to sell for a reason, and we don't know all the reasons. But I've been around this game a long time, and if one tenth of the stories that I've heard are true one tenth, it's gonna be a difficult sale. In the due diligence process for someone to take on, there would have to be some sort of indemnification that would be offered with the purchase of it, and I'm not sure Dan Snyder is willing to do that either. Out of a eight billion dollar contract, right a deal? What percentage would you say, are an attorney fees, in search charges and like the little minute details that won't make mainstream TV at all. We're always looking about twelve percent, you know, twelve percent. But you know, so if you're looking, you know, into eight billion dollars, it's it's a lot. Uh So, you know, you could be up to nineties six to a hundred million dollars of eight billion dollars in some sort of fees attorneys especially, there's a lot of due diligence that has to go on, especially with what's going on with the pending litigation, with the pending UH types of accusations that we don't know all of the accusations. I've heard of some and I'm not at liberty to you know, and hearsay that to say, but I know it delves all the way back to John Gruden, you know, losing his job. You know, there's so many things that have been attached to Dan Snyder and you know these this information comes from you know, different owners and different minority owners in the league that are at in our privilege to know certain circumstances. So uh, I would say it's gonna be around eighty to a hundred million dollars in those fees, which is far greater than you and I paid when we bought our families. I bought my mom like meeting similar backgrounds, right, we wanted to get back and I thought, you know, six to seven percent was outrageous. When when I bought my mom her first house for I'm older than you, so it was a hundred and sixty one thousand, and I remember my mom asking me why in what world would I spend three hundred thousand dollars on a house for myself? Uh? You know, like that was millions back then. So we laughed now at those fees. That's funny, man. And now this is I do have to ask you a question. I'd be remiss if I didn't. It's a philosophical question, but I want to look at it from a business standpoint. So Dan Snyder owns the Washington Commanders, but he's being forced to sell it. But then the question would be, doesn't really own it? When it comes to business, what does it mean to own something? Yeah, So in that respect, ownership is something that you can either liquidate, borrow again, all determined. But in the end, what really determines ownership is your liability, right liability, because we can always determine later on the distribution, division, the taxing, all types of different opportunities, But it's really about when I own something, I own the responsibility for the liability for it. Um And as you had stated, there's many different things that happened through liquidation, but I usually have the controlling decision of what to do with the asset, meaning I can uh go ahead and make the final decision because remember, he's being asked to sell it. He can fight it air quote correct. So um, you know, and I was it's funny because I was a liner and a lot of people, you know, we were talking about Reggie Bush and the Wendy's commercials with the with the heisman, which I find really funny. You know, he he was never forced to give the heisman back. He was asked. And so you know, do you want to go through the pain of you know, not doing what you're asked when doing what you're asked is going to give you, you know, upwards of seven billion dollars of profit or let's just say it's a bad day and it's five billion dollars of profit. You know, sometimes the ask is not as unreasonable as it sounds, right, Yeah, And I relate that to playing football. Um, you know a lot of coaches will say the that O T A s are air quote optional. Literally, Um, you know, by contract they are optional. But you know, options in your opinions don't come without consequences, nor do actions quite often. So yeah, it's that's why I say air quote. Yeah, you're smart. Um, you're moving on a little bit to to crypto how heavy. Are you involved in crypto? Well, I've always only utilized since I lost over a hundred million dollars as you know back in two thousand and eight, I've predetermined percentage wise buying going my timing and risk tolerance. UH, and I saw crypto is a high risk opportunity, and so I put a small percentage into crypto, working with companies some that have heavily failed. By the way, one thing I did know about crypto and n f t S is I only looked at the capability, not the collectibility, right I. I have been through the Internet boom. I've been in Web one, Web two, and now Web three. And Web one still exist, but the companies on around Web two still exist and they're trillions of dollars in it, But of the companies are not around. Web three ten years from now will exist. But of these companies aren't gonna be around. And usually the ones with the most hype and the most money, the most perceived air quote value are definitely not going to be around. And we see that with f TX, and we see the same manipulation when people get billions of dollars of valuation and UH that it seems almost unbelievable that money goes missing, money is misappropriated. It's almost unbelievable that it's three coming up, and that you know, the same shady ship excuse my language, still exists, that they had thousands of years ago trading pigs and goats. So break sit down. When you said Web two, one, two and three, what are those tears? Yeah, so the Internet was Web one is when I got involved. That's how I made my first money. But you know, even Justice Scalia, the Supreme Court, I sold legal research online. We exited for three point four billion dollars in ninety five. Justice Schalia just before that told me nobody will ever do research on the Internet. You need books. So we Web one is the internet to Web two is the mobile side of things, the apps, etcetera. Web two exists, but most of those companies don't that we're at the inception of mobile and Web two. I was the CEO of Samsung's phone division before Lee Steinberg. In fact, most people ask me how did I get the job running the most notable sports agency. It was because I was the only guy who had the same background as everyone else. But I was in technology for a decade and Lee saw the future of sports and technology, which we're experienced today ironically, right, look at all the conversations are really about technology, media, digital rights. I p uh, it's incredible and it's only gonna get better and better for athletes, leagues, organizations. And then finally Web three UH is blockchain and so taking the democratizing, fractionalizing ownership of properties. And you'll see this into ownership someday. You know how Green Bay is a publicly owned entity. There will be a fractionalized ownership of a team someday and will probably be when it kits about fifty billion dollar valuation that people will be able to buy a hundred dollar unit. Uh and you know, keep it track it liquidated. That's crazy, It's really crazy to me. I'm still trying to grasp the web three as you call it. UHM. With with f t X, what are your thoughts there, because the scene it seems they have covertly channel ten billion dollars in customer funds to trading companies, which all which also happens to be owned by the owner of f t X. Which the main issue isn't the transfer of money. The issue is approximately one point billion dollars seems to be on accounted for um and with that news coming out, a lot of people pulling out of f t X and going they they file for bankruptcy. And I'm I'm curious you thoughts on that and what that relates to a sports as we know, Uh, the f t X arena with Miami, you know, it's for the crypto teems to have inserted itself through the lens of athletes, which then you know, barred that into the world a little bit more. So, I'm curious what your thoughts are one on f t X and how that relates to sports. Yeah, so number one on f t X right, Uh there, I think missing about one point six five billion dollars and people are going to go to jail and they're bankrupt. When you have what's called a pre chasm company. And when I say pre chasm, it's when people like you and I are trying to get a feel for what is f t X and what is crypto? What is web three, what is an n f T How is this all gonna work? But through the Silicon Valley they're able to raise billions of dollars and build hype so that people in just like in the gold Rush, come rushing out buying without knowing their timing and risk tolerants, and spend their hard earned savings on things like that. And then what's worse for sports, and how f t X relates to sports is when you get a pre chasm company with a lot of perceived value, when you have billions of dollars of valuation, and the evaluation of ft X at one time was over thirty billion dollars. That's the valuation, so people thought on paper. And when you talk about Tom Brady having six million dollars in crypto, he probably did only because he invested so early, and you know it's liquid. I lost over a hundred million dollars, but it wasn't all in my bank account. It was in real estate and all these other liquid assets. So here now what happens. It's a trickle down failure of the trickle down theory of failure. So you have a company as a thirty billion dollar valuation and has all this cash. They want to continue the hype, so they put it onto arenas, they put it onto Super Bowl commercials, they put it onto all these things, and they spend money frivolously, not their money, by the way, and guess who gets hurt the consumer in two different ways. One the ones that invested in it, but worst the ones that are paying the ticket prices, the media prices, all those things. Because who's going to end up having to cover the losses for the arenas, the league's, the organizations, and the commercial debt that is out there, the consumer, the fan and so in the end we will see this again. We saw it as you mentioned web to hand Web one company. I don't know when you were a boy, before you you made the Super Bowl, brother, there was so many dot com commercials of companies that I don't remember their names that were paying and the people thought they were crazy. A million dollars for thirty seconds. Uh, and you know that won't even buy you a placement at the Super Bowl for a commercial. But we once again saw that with Web three companies during this Super Bowl, A ton of companies that you still haven't even heard of and probably won't be around in a month or two. You know what you've been in You've been in business for a long time, Like you mentioned, you've lost over a hundred million dollars and and so what what kind of what kind of advice would you give for somebody's trying to get into the web three world? How do you vet all of this information when obviously everybody is trying to sell you that their money is well spent with their company. Yeah, so number one, you need to determine your own timing and risk tolerance. That was the biggest lesson I learned from losing everything. I trusted people, but I didn't know my own timing and risk tolerance, and I didn't vet accordingly to my timing and risk tolerance. Because I think once you have a perspective of Okay, I'm gonna invest one percent, two percent or ten percent into something that's high risk, then it doesn't take you long to vet something to determine whether it's high risk if your go in you know, like a lottery ticket. Right. I have no problem with a lottery ticket because everyone has and knows there's about a one in a billion chance you're gonna win or worse. And they also know they know that you're gonna know by Saturday at eight o'clock, and so the timing and risk tolerance is set. So most people when they lose the lottery, they're not calling the news. You know and telling them they got ripped off because it was aligned. The same thing is true with Web three. You know, if you don't think about your timing and risk tolerance, I will guarantee one thing. Nine nine percent of all Web three companies today are high risk. So if you believe anybody about anything, if if it won't bet out, it won't bet out. And why play the chances at point one percent that you've got the one company that's not high risk, invest accordingly, that you are in a situation of high risk, and invest accordingly, you won't have to vet for very long. Yeah. I think it's the power of celebrities and TV that people still absorb their information and truth from television and celebrities, the back end of like why would a celebrity back this if it's not real? Yeah, Tom Brady right, or who? It's got to be real. And I think that's the best part of what what gets the the average consumer invested that it must be real. Yeah, and they because they also, you know, desperate people do stupid things. And you know, I believe money follows us and when we try to follow it, we always get into trouble. And so by doing the right things in the long run money. We'll follow you by looking for shortcuts. There's one rule about investing, man, you take a shortcut. If you cut the line, you're going to the back of the line. Of the time. There's no shortcut. You want to know how to make money, study Einstein's rule of seventy two compound interest, study warm Buffett. Understand your timing, risk tolerance, and see how money grows the same as behaviors. You don't get into the NFL by not practicing every single day, not mindset, heartset, enhanced at every single day. You can't do it every once in a while. And so if you're not utilizing the principles of investment every single day, you will have to go to the back of the line. But this that I'm telling everyone right now, if you're gonna best value I can give in this show, is I promise you one thing. You don't have to vet any Web three company very long. Just go ahead put it into the category of high risk, and just know, here's the percentage that I'm it's a lot e ticket. So I I love a lot of the tickets. I think they're fun. And you know, if I love playing craps in the casino. At the casino, but I have a limit. I'm like, if five dollars for the night, if I'm done, I'm done. But it's entertainment. I know it's high risk, and if I walk with anymore, I'm happy the same way as I win a lot of the ticket. I'm happy man today. What else you got going on? I know you're probably working on a new book What's happening in the world? Yeah, so, I'm working on a new book about time and utilizing Time is a dependent variable for all matter, and this is a key component to quantify people's improvement, whether or an athlete and investor, an entrepreneur. I'm trying to make it very simple. I know that sounded very ethereal, and I use vernacular vocabulary. Most of our friends are like, what the f is? They've talked about basically this, I can tell you that by this book teaching you to look about how much time am I spending towards what I want or interfering with what I want? And I give examples of how we give meaning to what happened to us in the past, defining moments and flexition points. You're a classic example, right, you give the right, meaning to the pain of your past that put you into a trajectory of what you wanted in the future. Then I go to the present and I teach people how do I utilize time today? Only limitation is the twenty four hours we have, So I teach people to be productive, accessible, and gracious every day, same thing in a trajectory of what I dream about, what I think I want. And then finally, in the future, the unlimited infinite future, how do I get out of my own way? Time is that variable that says if I just look at you know, am I eating? How much time did I spend eating the right things today to get me to my health working out today? In that trajectory, how much time did I spend studying today to get myself into this place? Meditating or surrounding myself with the right people, or spending time with my kids? Are those the things that you want? So I think it's the right time. No pun intended to teach people how to utilize time as a dependent variable for their life so that they continue to pursue their own potential. Quick comparing yourself to other people on the internet, it's the thief of joy. I want people to live a happy, healthy, wealthy, worthy life by figuring out what they're doing to interfere with it, not trying to go get it. David Melsa, Ladies and gentlemen, make sure you pick up the book. Hey, before I let you go, I gotta ask you a question. Would you buy the Commanders? Oh? Yeah, no doubting. I was not for a billion. But one last thing, I gotta say that I know we're going over, but I got it here. If I was rich enough, And this is what I told Bomber at the two billion, right, I said, if I didn't give a crap about two billion dollars or four billion dollars, because I had a hundred billion, I know that my grandkids are gonna have something that's worth billions and billions of dollars more than I paid. So how many investments can you make that you can guarantee in twenty years is gonna be worth billions more than it is today? And the reason is is that the NFL is the greatest reality show of all time, and there's only a few of these assets available, and so there's always going to be rich people. In fact, the trend right now is there's gonna be more rich people, less middle class, and way more poor people, which just makes that asset more and more valuable because it is an asset that can be utilized by poor people, middle class and the rich. I'd like to own one, no doubt, even if it didn't vet out properly. I'd figure it out if I had enough money, but I don't, so I'm always looking for that small little minority ownership because I do have enough for that. Awesome. Man, That's how I thought. You want to understand where you believe that middle class is going. But we'll hold that one. I love to come back, and man, I'm so happy. Thank you for including me. I'm always available for this show and you absolutely appreciate you. Thank you. Later on I sat down with Cameron, buying him here's a start, and say, starting safety with the Minnesota Kends, you will get a chance to hear some of his financial decisions on how he's secured the bag. I did this for my legacy. I got some dogars, cam round draft pick coming out of Cow, right, yes, sir, coming out of Cow. Now it says you're on the internet. You signed a deal four point two million dollars. You received a sign of bonus of seven hundred and seventeen thousand dollars. What was the first thing you did with that money? Let's see, I did a first few things. Uh. I bought the house my family in Texas, get our residency out of California for the tax purposes. Uh. Also love it in Texas, so got a place out there. Obviously, got my car nothing crazy, got a jeep and my objects. I bought about pianos. So I bought a piano for the Texas, my place here in Minnesota, and then also my place in California. So that's that's probably my biggest my biggest expense, uh, my fun expense. So let's slow it down. You you set them out for that. The first thing you did was body your parents. You said it bought a home right, so y and bond at home? You said. Obviously this is not the obvious thing. Most players are not thinking like that. So where where did that? What did that type of business? Salvey education? You come from? What made you? How did you know about home? Um, that's real estate. Obviously you hear everybody talk about it. Real estates probably the best investment you can do. And I see that now just being able to have a place up here in Minnesota down there in Texas and also California, and getting out of the California taxes is probably the biggest thing and the biggest reason in California, because when you're a resident of a certain state, it's your tax more um when when you're making certain making dollars in certain places. So that was the biggest reason I did it out in Texas, besides for me just liking it out there. So he's able to do that about that place in uh Dallas, Texas, and yeah, get out of California. I'm not mad at you. I'm out here in San Diego right now, so I'm getting hit over the here with taxes. I understand that. I'm not gonna lie. Yeah, it's beautiful. You pay. You're paying for the environment, You're paying for the weather. That's what you're paying for. I can't lie, but I mean, yeah, I can't. I can't hate on California except except the taxes. California's for sure the best place to live. So shout out to you buying a home. I wish I would have bought at home. When I was drafted to Jacksonville Jaguars in two thousand nine. I stayed at a one bed room apartment. I paid two thousand dollars a month. It was the sky Rods downtown Berkman, not too far front the facility. Uh yeah, and and and that had an opportunity to buy it. And it was only he did do was just needed to get off his hands. It was a condo. It was he wanted to sell it at ninety nine thousand dollars. I didn't understand, um, that I should have bought it until years later I realized I made a bad decision. However, that's what he said. It's not obvious. We were told that you're very philanthropically driven. Tell us a little bit of out what that means to you. Yep. So that's everything, just being able to serve um me, especially with my faith. Um that's the biggest thing that I make sure that before I do anything and um get all this money and football, make sure that I'm doing something to give back to doing something bigger than myself. So um me, I'm half Filipino, half black, so uh me able to go back to the Philippines and do work out there. That's my passion right now that I've really fell in love with especially going there after this first after my rookie season, I was able to go there for the first time and be able to give back there and really see how grateful the kids were for us. We didn't we weren't even able to raise that much money, but the little that we were able to do for everyone out there, from the typhoon victims and just everything the poverty. Seeing all that was a wake up call to me like we could really help and change the world, especially in my my family's country and the Philippines, and just fell in love with be able to do that and serve people out there. Oh, so when you did your work in the Philippines, how much money were you able to raise? Um? Total? We got twenty thousands, so I donated ten thousand of my own. We got a grant from a an organization called care They donated five thousand towards the cause. Then we were able to raise five thousand UM on the side just from people donating from to the go fund me, So it wasn't that much money, but twenty and the Philippines, we're able to help thousands of people, so we're able to do We did three different outreaches out there over a whole week, and we're able to feed a bunch of families of typhoon victims, people that literally lost their homes, lost the entire neighborhoods were wiped out from the typhoons. Coming out of Cow. Now, in college, did you participate in any type of n r L. No, you missed the boat missed it. Uh, kind of, I'm kind of glad I did it. I wasn't there for it because that was like the true season of like you know, you pictured Juko ball, like everybody just getting it out the mud. That's what it felt like in college because especially in the Bay Area, our stipend wasn't that much, so all of our money went went straight towards the rent because our rent was crazy, so I really only was able to pocket like two dollars a month from our stipend. So it really felt like we're getting out the mud. But part of me was that was low key fun, like just the grind of Okay, I have to go to the league because I'm not trying to live like this forever. So that mentally it was I'm kind of glad that it really built something in me that really has to grind, So I couldn't imagine being in college making million dollars off n I L. And I feel like human nature, some people's brining might not be as as as heavy if they were making that much money in college, because then there'll be no point to go to the league. But I'm happy for the dudes getting it down because we should have we should have been getting paid. Oh yeah, yeah, you know, that's an interesting take though, and I guess I've really never thought about it that way. But yeah, that's very true that some people obviously not speaking about all, but some people could lose that that dog, that hunger because they're getting fed and uh and it could wear off quicker than you need. So yeah, that's an interesting point. I've never heard anybody's share yet about n I L because it's pros and cons that we had on the show. Uh Tim Brown, Hall of Famer, uh In Heisman, Heisman winner, he did it, he did it. He was an elite at every single level. And he also suggested that n I L could cause trouble inside of the locker room as well of you know, guys arguing, bickering who's worth what, how much they're getting, how much they're getting and then it creates this ego and before you know it, team starts to disintegrate. So, um, do you think that that could be, um, you know, an issue with with certain people with n r L getting paid the locker room, so that that locker ken ken n I L Paul's tension in the locker rooms. I mean, it could, but I don't think it really would. I don't think it's a concern though. Most people like being in the NFL. Now you've got high contract people that are making twenty million year and you got rookies in first year people making six hundred thousand before taxes, so and but at the end of the day, nobody's pocket watching and nobody's really like, okay, jealous whatever. Obviously it's the NFL. You know, people are gonna be making money. But in college, I feel like people might, you might be jealous, but it's not gonna ruin the whole team's culture. And I feel like if you're really you're kind of you're you're a weird or if you're tripping off for somebody else's money, really like that that's on you. If you're really hurt and you're messing up the whole team, chemistry if you're you're mad about somebody making money, because if you're not bawling, then you can't expect to get a lot of money. And it's like it's reality, that's life, right. It's the same thing in the league. You know, the best players get pay the most exactly, and it's preparing you for for the NFL. I believe in. And if you can't handle that in college, and wait till you get in the NFL, and you've got people making twenty times more money than you and before a reason. If they've done something, you have it right. And they don't have to practice as hard as you either exactly exactly practice all week until the game, but they're making Yeah, that's your soul. Man. Well, we appreciate you jumping on the bag and again wish you the most success with your career. And when it comes for for me to look for it, when it comes time for me to look for a home in Texas, I'll make sure I'll hit you up. And your parents in the business let me know by my career I got you. Yes, I appreciate you. Alright. That wraps up another episode of The Bag. Shout out to Sports Illustrated and our Heart Radio making this possible. Make sure you tune in subscribe on all channels and all platforms where you consume the podcast, because we have some amazing guests coming on next that's you, Next Time Great

Never lover. I bet another one who bag and back on my legacy. Alright, guys, welcome back to another episode of The Bag, brought to you by Sports Illustrated and I Heart Radio. I'm your co host for Sean Jennen's and my beautiful co host, Lendsay McCormick cannot be with us today, so I have a handsome man over here by the name of David Melts. Appreciate your feeling in how you doing today. I'm good man. I'm gonna up the audio game. But of course it's a complete uh depreciation individuals. So I'm a big fan of Lindsay's and uh, I will try my best to make sure that my content will overcome the face for radio that you're looking at right now. Let's get straight into this. Dan Snyder bought the Washington rail Scans in nineteen and for eight hundred million dollars, and with all allegations going on, he's having to sell it, and he's selling it for a magical number of eight billion dollars. And to give the reference points, um, the New York Mets Soul at two point four billion dollars in two thousand twenty one, the Carolina Panthers soul at two point two billion dollars to two thousand nineteen. In the Brooklyn Nets soul for two point three billion dollars to two thousand nineteen. So just a few months ago, um the never Bronco soul for four point six billion dollars. So we see the number gradually increasing. But now that's a magnificent jump to eight billion dollars that the Washington Commanders are up for sale. Do you think that number is outrageous or is it right on point? I think it's a little bit high. But who am I to say when you have such a limited commodity, a limited asset that is directly attributed to the richest people on earth, and so as you have more of the richest people on Earth into the hundreds of billions of dollars. Uh, it's an ego purchase that eventually has always been determined to meet or exceed its value. And people thought, you know, my friend over here in l A was crazy for buying the Clippers for two billion when he did. Uh, And I will tell you that as outrageous as eight billion dollars, that seems a little bit high. I am not so sure. There may not be some multibillionaire whose ego uh and his longevity of perspective value can easily justify eight billion dollars. Believe it. I think the biggest detriment Rashot is you and I both know the game very well. We know the business of the game very well. There's a lot of legal baggage that would interfere with the security of such a purchase. So as much as we can go ahead and speculate on the price, the biggest problem will be whether it's four point seven billion, seven billion or eight billion. The problem is through due diligence of a multibillion dollar acquisition. There's so much nasty dirt in this deal that I think that's what's going to be the biggest inhibitor for the sale of the team at any price, let alone eight billion dollars. Yeah, with that kind of number, is is eye opening. And so you know, we just actually saw what's what I just went for forty four billion dollars right, And you know it was funny to see. Actually Elam was coming there with the sink saying, let that sink in. I'm still trying to sink this in. Um, so you got you got some You've got some big key players and Jeff Bezo, Jay Z Coming, Durant, Matthew McConaughey, just to name a few names that have been out there in the pool of potentially bidding. I'm curious on your thoughts that if Jeff Bezo byz Um, Jeff Bezo owns the licensing rights to Thursday Night Football, he as the owner of the Washington Post and then possibly being the owner of the Washington Commanders. It seems like he's really heavily invested in football. Uh. Do you think that will tilt his power to make decisions over what the game looks like? I absolutely do. But I also think that there's older owning owners the Hunt family, the Rooney family, the Jones family h that also have a great influence uh throughout history of the game. And you'll find that although he has some special interests involved, that they're probably for the betterment of the entire league. Um. And I think some of the owners are going to see it as a considerable value to have him in the league, and of course other owners that may have a more egotistical priority or power uh play themselves, may see him as a threat. I think overall, it won't be uh something that will get in the way of his purchase. I think his purchase. The difficulty, once again will be when the emails unravel. You know this, this runs deep for decades. Uh In Dan Snyder has to sell for a reason, and we don't know all the reasons. But I've been around this game a long time, and if one tenth of the stories that I've heard are true one tenth, it's gonna be a difficult sale. In the due diligence process for someone to take on, there would have to be some sort of indemnification that would be offered with the purchase of it, and I'm not sure Dan Snyder is willing to do that either. Out of a eight billion dollar contract, right a deal? What percentage would you say, are an attorney fees, in search charges and like the little minute details that won't make mainstream TV at all. We're always looking about twelve percent, you know, twelve percent. But you know, so if you're looking, you know, into eight billion dollars, it's it's a lot. Uh So, you know, you could be up to nineties six to a hundred million dollars of eight billion dollars in some sort of fees attorneys especially, there's a lot of due diligence that has to go on, especially with what's going on with the pending litigation, with the pending UH types of accusations that we don't know all of the accusations. I've heard of some and I'm not at liberty to you know, and hearsay that to say, but I know it delves all the way back to John Gruden, you know, losing his job. You know, there's so many things that have been attached to Dan Snyder and you know these this information comes from you know, different owners and different minority owners in the league that are at in our privilege to know certain circumstances. So uh, I would say it's gonna be around eighty to a hundred million dollars in those fees, which is far greater than you and I paid when we bought our families. I bought my mom like meeting similar backgrounds, right, we wanted to get back and I thought, you know, six to seven percent was outrageous. When when I bought my mom her first house for I'm older than you, so it was a hundred and sixty one thousand, and I remember my mom asking me why in what world would I spend three hundred thousand dollars on a house for myself? Uh? You know, like that was millions back then. So we laughed now at those fees. That's funny, man. And now this is I do have to ask you a question. I'd be remiss if I didn't. It's a philosophical question, but I want to look at it from a business standpoint. So Dan Snyder owns the Washington Commanders, but he's being forced to sell it. But then the question would be, doesn't really own it? When it comes to business, what does it mean to own something? Yeah, So in that respect, ownership is something that you can either liquidate, borrow again, all determined. But in the end, what really determines ownership is your liability, right liability, because we can always determine later on the distribution, division, the taxing, all types of different opportunities, But it's really about when I own something, I own the responsibility for the liability for it. Um And as you had stated, there's many different things that happened through liquidation, but I usually have the controlling decision of what to do with the asset, meaning I can uh go ahead and make the final decision because remember, he's being asked to sell it. He can fight it air quote correct. So um, you know, and I was it's funny because I was a liner and a lot of people, you know, we were talking about Reggie Bush and the Wendy's commercials with the with the heisman, which I find really funny. You know, he he was never forced to give the heisman back. He was asked. And so you know, do you want to go through the pain of you know, not doing what you're asked when doing what you're asked is going to give you, you know, upwards of seven billion dollars of profit or let's just say it's a bad day and it's five billion dollars of profit. You know, sometimes the ask is not as unreasonable as it sounds, right, Yeah, And I relate that to playing football. Um, you know a lot of coaches will say the that O T A s are air quote optional. Literally, Um, you know, by contract they are optional. But you know, options in your opinions don't come without consequences, nor do actions quite often. So yeah, it's that's why I say air quote. Yeah, you're smart. Um, you're moving on a little bit to to crypto how heavy. Are you involved in crypto? Well, I've always only utilized since I lost over a hundred million dollars as you know back in two thousand and eight, I've predetermined percentage wise buying going my timing and risk tolerance. UH, and I saw crypto is a high risk opportunity, and so I put a small percentage into crypto, working with companies some that have heavily failed. By the way, one thing I did know about crypto and n f t S is I only looked at the capability, not the collectibility, right I. I have been through the Internet boom. I've been in Web one, Web two, and now Web three. And Web one still exist, but the companies on around Web two still exist and they're trillions of dollars in it, But of the companies are not around. Web three ten years from now will exist. But of these companies aren't gonna be around. And usually the ones with the most hype and the most money, the most perceived air quote value are definitely not going to be around. And we see that with f TX, and we see the same manipulation when people get billions of dollars of valuation and UH that it seems almost unbelievable that money goes missing, money is misappropriated. It's almost unbelievable that it's three coming up, and that you know, the same shady ship excuse my language, still exists, that they had thousands of years ago trading pigs and goats. So break sit down. When you said Web two, one, two and three, what are those tears? Yeah, so the Internet was Web one is when I got involved. That's how I made my first money. But you know, even Justice Scalia, the Supreme Court, I sold legal research online. We exited for three point four billion dollars in ninety five. Justice Schalia just before that told me nobody will ever do research on the Internet. You need books. So we Web one is the internet to Web two is the mobile side of things, the apps, etcetera. Web two exists, but most of those companies don't that we're at the inception of mobile and Web two. I was the CEO of Samsung's phone division before Lee Steinberg. In fact, most people ask me how did I get the job running the most notable sports agency. It was because I was the only guy who had the same background as everyone else. But I was in technology for a decade and Lee saw the future of sports and technology, which we're experienced today ironically, right, look at all the conversations are really about technology, media, digital rights. I p uh, it's incredible and it's only gonna get better and better for athletes, leagues, organizations. And then finally Web three UH is blockchain and so taking the democratizing, fractionalizing ownership of properties. And you'll see this into ownership someday. You know how Green Bay is a publicly owned entity. There will be a fractionalized ownership of a team someday and will probably be when it kits about fifty billion dollar valuation that people will be able to buy a hundred dollar unit. Uh and you know, keep it track it liquidated. That's crazy, It's really crazy to me. I'm still trying to grasp the web three as you call it. UHM. With with f t X, what are your thoughts there, because the scene it seems they have covertly channel ten billion dollars in customer funds to trading companies, which all which also happens to be owned by the owner of f t X. Which the main issue isn't the transfer of money. The issue is approximately one point billion dollars seems to be on accounted for um and with that news coming out, a lot of people pulling out of f t X and going they they file for bankruptcy. And I'm I'm curious you thoughts on that and what that relates to a sports as we know, Uh, the f t X arena with Miami, you know, it's for the crypto teems to have inserted itself through the lens of athletes, which then you know, barred that into the world a little bit more. So, I'm curious what your thoughts are one on f t X and how that relates to sports. Yeah, so number one on f t X right, Uh there, I think missing about one point six five billion dollars and people are going to go to jail and they're bankrupt. When you have what's called a pre chasm company. And when I say pre chasm, it's when people like you and I are trying to get a feel for what is f t X and what is crypto? What is web three, what is an n f T How is this all gonna work? But through the Silicon Valley they're able to raise billions of dollars and build hype so that people in just like in the gold Rush, come rushing out buying without knowing their timing and risk tolerants, and spend their hard earned savings on things like that. And then what's worse for sports, and how f t X relates to sports is when you get a pre chasm company with a lot of perceived value, when you have billions of dollars of valuation, and the evaluation of ft X at one time was over thirty billion dollars. That's the valuation, so people thought on paper. And when you talk about Tom Brady having six million dollars in crypto, he probably did only because he invested so early, and you know it's liquid. I lost over a hundred million dollars, but it wasn't all in my bank account. It was in real estate and all these other liquid assets. So here now what happens. It's a trickle down failure of the trickle down theory of failure. So you have a company as a thirty billion dollar valuation and has all this cash. They want to continue the hype, so they put it onto arenas, they put it onto Super Bowl commercials, they put it onto all these things, and they spend money frivolously, not their money, by the way, and guess who gets hurt the consumer in two different ways. One the ones that invested in it, but worst the ones that are paying the ticket prices, the media prices, all those things. Because who's going to end up having to cover the losses for the arenas, the league's, the organizations, and the commercial debt that is out there, the consumer, the fan and so in the end we will see this again. We saw it as you mentioned web to hand Web one company. I don't know when you were a boy, before you you made the Super Bowl, brother, there was so many dot com commercials of companies that I don't remember their names that were paying and the people thought they were crazy. A million dollars for thirty seconds. Uh, and you know that won't even buy you a placement at the Super Bowl for a commercial. But we once again saw that with Web three companies during this Super Bowl, A ton of companies that you still haven't even heard of and probably won't be around in a month or two. You know what you've been in You've been in business for a long time, Like you mentioned, you've lost over a hundred million dollars and and so what what kind of what kind of advice would you give for somebody's trying to get into the web three world? How do you vet all of this information when obviously everybody is trying to sell you that their money is well spent with their company. Yeah, so number one, you need to determine your own timing and risk tolerance. That was the biggest lesson I learned from losing everything. I trusted people, but I didn't know my own timing and risk tolerance, and I didn't vet accordingly to my timing and risk tolerance. Because I think once you have a perspective of Okay, I'm gonna invest one percent, two percent or ten percent into something that's high risk, then it doesn't take you long to vet something to determine whether it's high risk if your go in you know, like a lottery ticket. Right. I have no problem with a lottery ticket because everyone has and knows there's about a one in a billion chance you're gonna win or worse. And they also know they know that you're gonna know by Saturday at eight o'clock, and so the timing and risk tolerance is set. So most people when they lose the lottery, they're not calling the news. You know and telling them they got ripped off because it was aligned. The same thing is true with Web three. You know, if you don't think about your timing and risk tolerance, I will guarantee one thing. Nine nine percent of all Web three companies today are high risk. So if you believe anybody about anything, if if it won't bet out, it won't bet out. And why play the chances at point one percent that you've got the one company that's not high risk, invest accordingly, that you are in a situation of high risk, and invest accordingly, you won't have to vet for very long. Yeah. I think it's the power of celebrities and TV that people still absorb their information and truth from television and celebrities, the back end of like why would a celebrity back this if it's not real? Yeah, Tom Brady right, or who? It's got to be real. And I think that's the best part of what what gets the the average consumer invested that it must be real. Yeah, and they because they also, you know, desperate people do stupid things. And you know, I believe money follows us and when we try to follow it, we always get into trouble. And so by doing the right things in the long run money. We'll follow you by looking for shortcuts. There's one rule about investing, man, you take a shortcut. If you cut the line, you're going to the back of the line. Of the time. There's no shortcut. You want to know how to make money, study Einstein's rule of seventy two compound interest, study warm Buffett. Understand your timing, risk tolerance, and see how money grows the same as behaviors. You don't get into the NFL by not practicing every single day, not mindset, heartset, enhanced at every single day. You can't do it every once in a while. And so if you're not utilizing the principles of investment every single day, you will have to go to the back of the line. But this that I'm telling everyone right now, if you're gonna best value I can give in this show, is I promise you one thing. You don't have to vet any Web three company very long. Just go ahead put it into the category of high risk, and just know, here's the percentage that I'm it's a lot e ticket. So I I love a lot of the tickets. I think they're fun. And you know, if I love playing craps in the casino. At the casino, but I have a limit. I'm like, if five dollars for the night, if I'm done, I'm done. But it's entertainment. I know it's high risk, and if I walk with anymore, I'm happy the same way as I win a lot of the ticket. I'm happy man today. What else you got going on? I know you're probably working on a new book What's happening in the world? Yeah, so, I'm working on a new book about time and utilizing Time is a dependent variable for all matter, and this is a key component to quantify people's improvement, whether or an athlete and investor, an entrepreneur. I'm trying to make it very simple. I know that sounded very ethereal, and I use vernacular vocabulary. Most of our friends are like, what the f is? They've talked about basically this, I can tell you that by this book teaching you to look about how much time am I spending towards what I want or interfering with what I want? And I give examples of how we give meaning to what happened to us in the past, defining moments and flexition points. You're a classic example, right, you give the right, meaning to the pain of your past that put you into a trajectory of what you wanted in the future. Then I go to the present and I teach people how do I utilize time today? Only limitation is the twenty four hours we have, So I teach people to be productive, accessible, and gracious every day, same thing in a trajectory of what I dream about, what I think I want. And then finally, in the future, the unlimited infinite future, how do I get out of my own way? Time is that variable that says if I just look at you know, am I eating? How much time did I spend eating the right things today to get me to my health working out today? In that trajectory, how much time did I spend studying today to get myself into this place? Meditating or surrounding myself with the right people, or spending time with my kids? Are those the things that you want? So I think it's the right time. No pun intended to teach people how to utilize time as a dependent variable for their life so that they continue to pursue their own potential. Quick comparing yourself to other people on the internet, it's the thief of joy. I want people to live a happy, healthy, wealthy, worthy life by figuring out what they're doing to interfere with it, not trying to go get it. David Melsa, Ladies and gentlemen, make sure you pick up the book. Hey, before I let you go, I gotta ask you a question. Would you buy the Commanders? Oh? Yeah, no doubting. I was not for a billion. But one last thing, I gotta say that I know we're going over, but I got it here. If I was rich enough, And this is what I told Bomber at the two billion, right, I said, if I didn't give a crap about two billion dollars or four billion dollars, because I had a hundred billion, I know that my grandkids are gonna have something that's worth billions and billions of dollars more than I paid. So how many investments can you make that you can guarantee in twenty years is gonna be worth billions more than it is today? And the reason is is that the NFL is the greatest reality show of all time, and there's only a few of these assets available, and so there's always going to be rich people. In fact, the trend right now is there's gonna be more rich people, less middle class, and way more poor people, which just makes that asset more and more valuable because it is an asset that can be utilized by poor people, middle class and the rich. I'd like to own one, no doubt, even if it didn't vet out properly. I'd figure it out if I had enough money, but I don't, so I'm always looking for that small little minority ownership because I do have enough for that. Awesome. Man, That's how I thought. You want to understand where you believe that middle class is going. But we'll hold that one. I love to come back, and man, I'm so happy. Thank you for including me. I'm always available for this show and you absolutely appreciate you. Thank you. Later on I sat down with Cameron, buying him here's a start, and say, starting safety with the Minnesota Kends, you will get a chance to hear some of his financial decisions on how he's secured the bag. I did this for my legacy. I got some dogars, cam round draft pick coming out of Cow, right, yes, sir, coming out of Cow. Now it says you're on the internet. You signed a deal four point two million dollars. You received a sign of bonus of seven hundred and seventeen thousand dollars. What was the first thing you did with that money? Let's see, I did a first few things. Uh. I bought the house my family in Texas, get our residency out of California for the tax purposes. Uh. Also love it in Texas, so got a place out there. Obviously, got my car nothing crazy, got a jeep and my objects. I bought about pianos. So I bought a piano for the Texas, my place here in Minnesota, and then also my place in California. So that's that's probably my biggest my biggest expense, uh, my fun expense. So let's slow it down. You you set them out for that. The first thing you did was body your parents. You said it bought a home right, so y and bond at home? You said. Obviously this is not the obvious thing. Most players are not thinking like that. So where where did that? What did that type of business? Salvey education? You come from? What made you? How did you know about home? Um, that's real estate. Obviously you hear everybody talk about it. Real estates probably the best investment you can do. And I see that now just being able to have a place up here in Minnesota down there in Texas and also California, and getting out of the California taxes is probably the biggest thing and the biggest reason in California, because when you're a resident of a certain state, it's your tax more um when when you're making certain making dollars in certain places. So that was the biggest reason I did it out in Texas, besides for me just liking it out there. So he's able to do that about that place in uh Dallas, Texas, and yeah, get out of California. I'm not mad at you. I'm out here in San Diego right now, so I'm getting hit over the here with taxes. I understand that. I'm not gonna lie. Yeah, it's beautiful. You pay. You're paying for the environment, You're paying for the weather. That's what you're paying for. I can't lie, but I mean, yeah, I can't. I can't hate on California except except the taxes. California's for sure the best place to live. So shout out to you buying a home. I wish I would have bought at home. When I was drafted to Jacksonville Jaguars in two thousand nine. I stayed at a one bed room apartment. I paid two thousand dollars a month. It was the sky Rods downtown Berkman, not too far front the facility. Uh yeah, and and and that had an opportunity to buy it. And it was only he did do was just needed to get off his hands. It was a condo. It was he wanted to sell it at ninety nine thousand dollars. I didn't understand, um, that I should have bought it until years later I realized I made a bad decision. However, that's what he said. It's not obvious. We were told that you're very philanthropically driven. Tell us a little bit of out what that means to you. Yep. So that's everything, just being able to serve um me, especially with my faith. Um that's the biggest thing that I make sure that before I do anything and um get all this money and football, make sure that I'm doing something to give back to doing something bigger than myself. So um me, I'm half Filipino, half black, so uh me able to go back to the Philippines and do work out there. That's my passion right now that I've really fell in love with especially going there after this first after my rookie season, I was able to go there for the first time and be able to give back there and really see how grateful the kids were for us. We didn't we weren't even able to raise that much money, but the little that we were able to do for everyone out there, from the typhoon victims and just everything the poverty. Seeing all that was a wake up call to me like we could really help and change the world, especially in my my family's country and the Philippines, and just fell in love with be able to do that and serve people out there. Oh, so when you did your work in the Philippines, how much money were you able to raise? Um? Total? We got twenty thousands, so I donated ten thousand of my own. We got a grant from a an organization called care They donated five thousand towards the cause. Then we were able to raise five thousand UM on the side just from people donating from to the go fund me, So it wasn't that much money, but twenty and the Philippines, we're able to help thousands of people, so we're able to do We did three different outreaches out there over a whole week, and we're able to feed a bunch of families of typhoon victims, people that literally lost their homes, lost the entire neighborhoods were wiped out from the typhoons. Coming out of Cow. Now, in college, did you participate in any type of n r L. No, you missed the boat missed it. Uh, kind of, I'm kind of glad I did it. I wasn't there for it because that was like the true season of like you know, you pictured Juko ball, like everybody just getting it out the mud. That's what it felt like in college because especially in the Bay Area, our stipend wasn't that much, so all of our money went went straight towards the rent because our rent was crazy, so I really only was able to pocket like two dollars a month from our stipend. So it really felt like we're getting out the mud. But part of me was that was low key fun, like just the grind of Okay, I have to go to the league because I'm not trying to live like this forever. So that mentally it was I'm kind of glad that it really built something in me that really has to grind, So I couldn't imagine being in college making million dollars off n I L. And I feel like human nature, some people's brining might not be as as as heavy if they were making that much money in college, because then there'll be no point to go to the league. But I'm happy for the dudes getting it down because we should have we should have been getting paid. Oh yeah, yeah, you know, that's an interesting take though, and I guess I've really never thought about it that way. But yeah, that's very true that some people obviously not speaking about all, but some people could lose that that dog, that hunger because they're getting fed and uh and it could wear off quicker than you need. So yeah, that's an interesting point. I've never heard anybody's share yet about n I L because it's pros and cons that we had on the show. Uh Tim Brown, Hall of Famer, uh In Heisman, Heisman winner, he did it, he did it. He was an elite at every single level. And he also suggested that n I L could cause trouble inside of the locker room as well of you know, guys arguing, bickering who's worth what, how much they're getting, how much they're getting and then it creates this ego and before you know it, team starts to disintegrate. So, um, do you think that that could be, um, you know, an issue with with certain people with n r L getting paid the locker room, so that that locker ken ken n I L Paul's tension in the locker rooms. I mean, it could, but I don't think it really would. I don't think it's a concern though. Most people like being in the NFL. Now you've got high contract people that are making twenty million year and you got rookies in first year people making six hundred thousand before taxes, so and but at the end of the day, nobody's pocket watching and nobody's really like, okay, jealous whatever. Obviously it's the NFL. You know, people are gonna be making money. But in college, I feel like people might, you might be jealous, but it's not gonna ruin the whole team's culture. And I feel like if you're really you're kind of you're you're a weird or if you're tripping off for somebody else's money, really like that that's on you. If you're really hurt and you're messing up the whole team, chemistry if you're you're mad about somebody making money, because if you're not bawling, then you can't expect to get a lot of money. And it's like it's reality, that's life, right. It's the same thing in the league. You know, the best players get pay the most exactly, and it's preparing you for for the NFL. I believe in. And if you can't handle that in college, and wait till you get in the NFL, and you've got people making twenty times more money than you and before a reason. If they've done something, you have it right. And they don't have to practice as hard as you either exactly exactly practice all week until the game, but they're making Yeah, that's your soul. Man. Well, we appreciate you jumping on the bag and again wish you the most success with your career. And when it comes for for me to look for it, when it comes time for me to look for a home in Texas, I'll make sure I'll hit you up. And your parents in the business let me know by my career I got you. Yes, I appreciate you. Alright. That wraps up another episode of The Bag. Shout out to Sports Illustrated and our Heart Radio making this possible. Make sure you tune in subscribe on all channels and all platforms where you consume the podcast, because we have some amazing guests coming on next that's you, Next Time Great