In just one year, barclays center has put oakland back on a sports and entertainment map.
What's left to do in year two and how he turns nassau coliseum from a liability to an asset.
I think we can make it honestly one of the great venues in the world.
An iconic racetrack in the midst of a makeover and reinventing himself as a high- tech teacher.
We tried to look at a three- dimensional approach.
And one pumping the volume back up.
A classic coupe subbrand retooling for the 21st-century.
We are coming into your backyard.
Building stadiums and brands.
All in a days work for "sport folio." hello.
I am rick horrow and welcome to "sportfolio," bloomberg's weekly look at the inside business of sports.
A list a developer bruce ratner was on our show in the centerpiece of his hijacked, the berkeley barclays center, was still months from opening -- and the centerpiece of his project, the barclays center, was months from opening.
So far, he's been correct on all accounts.
In the first year of operation, barclays center attracted more than 2 million guests.
More than 700,000 came to see the brooklyn nets who averaged 17,000 fans per game, a 23% increase over their attendance in new jersey.
They lead in gross receipts for concerts and family shows during the first six months of 2013. they also hosted championship roxanne, college basketball, preseason hockey injury bidding to its selection as sports facility of the year at the 2013 sports business awards.
Bruce ratner joins us now to talk about the barclays center and it excess as a linchpin for urban economic veltman.
-- and it's success for urban economic development.
Has it satisfied all of your internal benchmarks?
We thought it was going to be great and it was greater.
The fact that we are number one in the united states in terms of tickets sold, the restaurants that have opened up, or just the satisfaction of the community with our programming, and a look at that.
It takes time to generate significant impact around the neighborhood.
What about as a retail hub hack g? for the landlord's point of view, there is a storefront that was renting for $50 per foot is not renting for $250 or foot.
Restaurants, stores opening up.
It has had a remarkable impact on retail, restaurants, and so one.
You also said you were actively looking for an investor for a piece of the development.
You would maintain operational control.
It's going to be terrific and allow us to build quicker than we anticipated.
It's a costly project.
You also have a construction issue.
The modular apartment tower next the barclays center.
Talk about modular instruction and the advantages.
The biggest problem for developing an urban areas is you, with an idea today and you don't finish it or five or six years and you have costs going up and up.
It's taken us five years and millions of dollars to develop.
It is not prefab but modules that go up one by one and they are done in a factory and completed down to the towel bar.
Then they are put on piece by piece.
Think of a blog going up and tie it together and it becomes units.
Quality is excellent, sustainability, and it will look for -- and better conventionally.
Our first module gets put in place over the next three or four months.
You build based on demand.
The brooklyn mark lynn -- market is the best in the world right now.
There are three or 4000 property units.
The islanders coming in long- term deal, how does that look?
In two years they will move.
We have a lot of very good young players.
Just like the nets, they will hit their stride right at the right moment.
They've done a good job with a difficult situation in that arena and slowly building up a young team which is good and his decision to move the barclays will help get free agents and everything.
The iranian synergy is that or the miles to the east, you are downsizing a building that you are taking operational control of.
Tell us about the nassau complex.
It was built 41 years ago.
It is in terrible shape and you could even call it a wreck.
You cannot get a lot of artists to play there.
Nothing is great except for the bones of the arena.
We won a competition to redo the arena and it's very exciting.
I think we can make it one of the greatest venues.
It will look very different than nassau and suffolk are the vertebra just -- are the third richest counties.
I think he can be a fantastic arena.
You won the right to spend 230 million dollars in private dollars that will have no nhl tenant again but it's a winner to you?
The number one building in the world is the 02 arena and it does not have an anchor tenant.
We have college basketball, hockey, family shows.
It's a great market for all four.
This market and this region is just so strong that you can do a great job with an arena without a sports team.
You could make this a very special place.
230 sports am a arts, entertainment facilities done in the last two dave decades -- two decades.
Give us the elevator speech, words of wisdom, some advice on how these buildings are developed.
The first word is persistence.
The second word is persistence.
And maybe tenacity.
You really just have to stay added and that is everything about success.
Second, you have to make sure the market is there.
We felt it was a strong market and many others did not.
It turned out to be a very strong region.
You have to do it a lot.
You cannot just think you can do a public-private partnership with a lot of costs and financing.
That is what we specialize in and there are not a lot of companies in the country able to do large-scale projects for you build that kind of company.
Bruce ratner, good luck with the nets, the islanders, atlantic yards, everything.
Market maker stephanie ruhle recently toured barclays center and visit bloomberg.com for an up close look at what's going on with the nets and by wanderers -- islanders.
Coming up, a classic facility getting a $400 million makeover.
Follow me to daytona speedway and you don't even have to wear a hard hat.
We cannot allow them on the race track with this kind of heavy equipment.
Like stay with us.
"sportfolio:" will be right back.
? welcome back.
Comfort and luxury are not words we traditionally associate with the fan experience of nascar but international speedway corporation which owns daytona international has broken ground on a $400 million remodel to give the facility many of the amenities that dan dan sponsors have come to expect that contemporary stadiums.
I visited the construction site with those who supervise daytona rising for the contractor.
We are drilling and this is what that crane rig is doing.
You can see the auger that will drill into the ground about 35 the long and we will fill that hole with concrete and that is where the new grandstands will sit.
We have 2500 of those to install and we are about halfway through with or teen hundred in the ground.
This is a multi-crane huge construction job.
Describe what it will be like.
One crane of probably four to six that will be out there.
We will go to six at the peak and they will be anywhere between 200 and 300 foot cranes with a huge jib over the existing grandstand.
They have to work from the outside.
We cannot allow them on the race track with this kind of heavy equipment.
Most venues are built from the inside and the outside at the same time.
They can only work from the outside which makes the cranes they use and other equipment all the more challenging to get it done.
This is over the existing grandstand.
Day eight out here and where we are standing is the temporary location.
We have to get 100,000 fans through these gates that at one time where back about 200 feet and they have been relocated to become a new entry point and we will feed those fans through our construction site to get them to their seats safely.
How difficult is it to incorporate this into the new design and implementation?
It's really challenging but fifth the years of cabling going all over the building -- but 50 years of cabling, we've had a lot of time to plan and really schedule the work to take things off line so we don't affect it and then have ample opportunity to get back and re-energize the system so that when race event start up we are fully energized and all of the systems are back in place ready to go.
One of the challenges as we go through this process is to make sure we know where everything is.
Are there things underground we don't know about?
That is one risk in trying to take everything off line the right way but the key was preparations, timing, having a good, thought old plan and we are seeing some success.
The days of taking a piece of paper with a rock, those are gone?
They will make sure everything is connect it.
That is the expectation and we are holding off on some of our technology guys because who knows today what will be relevant two years from now?
You don't want to buy technology that will be obsolete so we're making the decision to hold off until we get a better lead on if this is the right part to have and we have to plan on interchangeability in the future.
If we have to change technology, do we have a plan to accommodate that?
You do not want to get locked in on something that might not be around.
The technology use and how long you will be using it is interesting.
This part of the grandstand will come out.
It comes out about 150 feet here to these orange covers sticking up.
These going to the ground 35 feet and we have 2490 of them to put in and we are about 1400 and right now, over halfway there.
We have had people visiting us and the phasing and sequencing is to run events the same time as construction.
Not just from our innovation but the cool things we're doing to make the experience great but just the technology of actually doing it, constructing it the right way, how they monitor employees on call, it's a pretty impressive project all the way around.
Last week, international speedway corporation released its third-quarter earnings report and stated they intend to finance daytona rising with cash on hand in cash from operations and they estimate $20 million per year in incremental revenue once the project is completed in 2016. coming up, and other story of growth and change.
He has never let it stand still and how the black knight is leveraging longevity.
Diet, health, fitness.
You look after himself like a trojan.
Daytona is shrinking its capacity with the daytona rising project.
Can you name the sprint cup track with the largest permanent seating capacity?
The answer when "sportfolio" returns.
? his the answer.
The sprint cup track with the permanent sing -- the largest eminent seating capacity -- the brickyard 400. the u.s. team defeated the international side in the presidents cup golf tournament.
The americans have won the cup five consecutive times when the match has ended in a tie and it was held in south africa and the captain of the world team, gary player, and i'm sure our guest remembers that well.
Welcome to "sportfolio." the presidents cup has done very well and i'm sure it's gratifying to you and your dad.
It's unfair to make these comparisons between the presidents cup and the ryder cup . if you look at the history of the ryder cup, it was nothing for the first 50 or 60 years and the presidents cup in its infancy, only 10 occasions they've played the event and i think it's been amazing.
A slightly different format has been amazing and growing.
Your dad has been a key pioneer.
He is 78 years old and, frankly, he stands for so many things.
It is not just a golfer but a worldwide ambassador and the nikon.
Tell us about his role with the bland -- the brand.
He had a glorious playing career but most of those end when you are in your 50's. now you can extend your career a little bit and our goal has been to build a business to transcend the playing career.
You have a dvd that speaks a little bit about teaching life lessons as well and it's rare that a guy who is nearly 80 is relevant to young, aspiring golfers.
Why isn't doing so well?
The key word you use there is relevant.
How do you keep anyone as they get older and sport or entertainment relevant?
This is an instructional golf series but rather than peer the instruction we try to look at a three-dimensional approach.
The skill set but then how you were thinking mentally and of course what my dad is well known as, his physical attributes, how you mix those three elements together.
He has a lot to say, and want to communicate and how you improve your golf but, perhaps more importantly, how to improve the quality of life.
Every golfer where there -- whether they are qualified or not is a golf course designer and your father is way beyond a normal designer.
You opened up a new one near greenville south carolina which is unique because it's one of the only domestic openings out there.
What does it mean to the domestic real estate golf market?
The real estate market, the financial market, they are integrally linked to new real estate development and it's been devastating in the united states.
I cannot say there's been any magic because it's been seven years in the making and we have a new developer because the old one went bankrupt.
We were pleased that we got it open and it will be one of four new openings we have this year worldwide and we have or do golf courses on the drawing board.
Half of them are actively under construction.
If you look at the portfolio, i nearly said "sportfolio." thanks for the plug.
Indication of a global approach to the game of golf that my father took as a professional and that we as a company have taken for years and years.
Health and wellness, your commitment to humana.
The event with president clinton every year as well.
It's a business move that is essentially recession proof.
Everyone wants to get healthy.
It has become a lot more popular today to say you are looking after yourself a little better.
We like that relationship.
It gary player stands for diet, health, fitness.
Is looked after himself like a trojan.
Today, perhaps, the fruits of his labor in the late 70 posse has all of this energy and enthusiasm and it's come to the forefront because of his lifestyle.
Doesn't it upset you that the guy can get up and he does fit teen hundred situps and can do more?
He's always been a smaller guy and knew he had to be stronger to compete and it became a lifestyle.
He's tough to be around.
If i put some batter on something he will say, you are not going to eat that for you -- are you?
[laughter] thanks to your dad, his wonderful image, and his ambassadorial image.
I'm going to do 1501. i don't believe you but i will tell him anyway.
Coming up on "sportfolio," a new twist on a legendary basketball brand.
And1 is back.
Will hoops and hip hop take off again?
Staywith with us.
Got o'neill is ceo of the 76ers and new jersey devils.
How he plans to manage two teams in two sports in two different cities.
In the late 1990's, and1 was one of the hottest sports apparel companies around.
It had street crowd with the famous mix tape playground tour.
It never went away but the brand relaunched under management of galaxy international last year.
Joining me now, maurice levy.
Explain whether brand has been and why you needed to jumpstart it?
-- where the brand has been.
It was sold, resold, and then sold again.
Everybody had their agenda marketing-wise.
It started below the surface from the consumer aspect.
At retail it never went away.
The marketing aspect just kind of down.
-- dimmed down.
Is signed him as a pioneer in ba endorser but that is just the beginning of a very large iceberg.
You have adidas, reebok, nike.
How do you do that'sis in the nba?
It is about the quality of the rare -- of the player.
He's very involved with social media.
We are looking to strike it with jan, first and second rounders, new up and comers to really be the endorsers.
-- strike it with young, first and second rounders.
Successful in the whole marketing strategy and it was to bring back these good memories.
It had the street credit.
An authentic basketball brand and that is what we wanted to reinvest into.
Regain industry credibility and reach out to all of the amateur and refresh no players to reestablish ourselves as a grassroots brand, the premier basketball brand.
We are coming into your backyard hosting tournaments offering this big prize and we want to see the best basketball played.
That was a big agenda here, to reestablish ourselves.
With summer remix we felt we accomplish that.
You look at what gz is trying to do and it blurs the line between arts and entertainment.
How important is that as part of your marketing strategy?-- look at what jay z is doing.
How valuable is that?
In its peak it was not just a basketball brand of part of an overall culture.
You had a certain lifestyle and it was a way of flying.
What's going on with jay z and others is something we said out a long time ago.
Maurice levy, good luck with and1. that will do it for this edition of "sportfolio." our thanks to bruce ratner, maurice levy, and others.
You can find more bloomberg sports business coverage on our website, bloomberg.com.
I'm rick horrow.
Thanks for watching.
See you next time.
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