Episode Summary

Stephen Curry discusses the Golden State Warriors’ championship ambitions, his approach to retirement, the future of Curry Brand, and his expanding business portfolio. He also shares how Underrated Golf is creating access for young players, why he chose Li-Ning, and where he sees opportunities across media, AI, basketball, golf, and women’s sports.

Episode Notes

Stephen Curry joins Alex Sherman at Bethpage Black for a wide-ranging conversation spanning basketball, business, golf, media, footwear, artificial intelligence, the WNBA, and the next stage of Curry’s career.

Curry explains how his experience as an overlooked three-star basketball recruit inspired the Underrated brand and its focus on opportunity, equity, and access. He reflects on the growth of the Underrated Golf Tour, including young golfers who have progressed from the program into college golf and PGA Tour opportunities.

The conversation also explores Curry Inc. and the portfolio Curry is building beyond basketball. Curry discusses Unanimous Media, his Eat. Learn. Play. foundation, the animated basketball film GOAT, and his ambitions across film, television, publishing, and podcasting.

Curry also goes inside his move to Li-Ning after entering footwear free agency. He describes testing products from multiple brands, wearing Jimmy Butler’s Li-Ning shoe in a game, and what attracted him to Li-Ning’s product quality, innovation, global ambitions, and willingness to invest in Curry Brand. He says work is underway on a new signature shoe, with hopes for a release in early 2027, while golf, lifestyle, and training products are also part of the longer-term vision.

On the court, Curry discusses the Golden State Warriors, the challenge of competing in a deep Western Conference, and his desire to remain in championship contention while helping the team establish a new identity. He addresses his health, his long-running partnership with Draymond Green and Steve Kerr, and why changing teams is not the path he is looking to take.

Curry also weighs in on the state of the NBA and WNBA, athlete recruitment for Curry Brand, partnerships involving Google, Gemini, and KPMG, and how young people can prepare for a world being rapidly reshaped by AI.

Finally, Curry talks candidly about retirement. While he says Father Time is always part of the equation, he still believes he can perform at a high level and describes a sense of urgency around making the most of the next two years.

Topics and timestamps:

02:05 Curry Inc., Unanimous Media and Eat. Learn. Play.

02:44 GOAT and future film and TV projects

03:46 Curry’s footwear free agency and move to Li-Ning

06:09 Golden State Warriors and championship contention

07:58 Curry, Draymond Green and Steve Kerr

08:41 Health and maintaining an elite level of play

09:12 Sponsorships, endorsements and business partnerships

10:02 AI, Google Gemini and preparing young people for technological change

10:36 Curry’s next signature shoe and plans for 2027

11:47 Curry on the state of the NBA

12:22 WNBA growth, visibility and leadership

13:15 Caitlin Clark, Paige Bueckers and Curry Brand athlete recruitment

13:52 Li-Ning’s investment in Curry Brand

14:17 Retirement, Father Time and Curry’s next two years

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Netflix Chief Content Officer Bela Bajaria explains how live sports, global events and local programming fit into Netflix’s evolving content strategy, while Jacksonville Jaguars owner Shad Khan examines rising NFL team valuations, stadium economics and international expansion. Together, the conversations reveal how streaming, live experiences and changing fan behavior are reshaping the business of sports and entertainment.

Episode Notes

The worlds of streaming, live sports and franchise economics are converging. In this episode, Bela Bajaria and Shad Khan offer two perspectives on how that transformation is playing out across Netflix, the NFL and the broader sports and entertainment business.

Netflix Chief Content Officer Bela Bajaria discusses the company’s growing focus on live programming and what turns a broadcast into an “unmissable event.” Rather than pursuing sports through a traditional rights strategy, Netflix is looking for cultural moments capable of generating conversation around the world. Bajaria points to NFL games on Christmas Day, boxing, the World Baseball Classic, the Home Run Derby, Alex Honnold’s Taipei 101 climb and a BTS concert in Seoul as examples of how Netflix thinks about event programming.

She also explains how Netflix combines its global distribution with locally produced content and country-specific marketing. The strategy remains opportunistic: Netflix can pursue established sports properties while also developing original events that take advantage of the platform’s global scale.

Shad Khan, owner of the Jacksonville Jaguars, turns to the economics powering the NFL. Khan discusses why he believes NFL franchises still have significant room to appreciate despite rapidly rising team valuations, citing the league’s competitive balance, financial structure and connection to local communities.

The conversation also explores the Jaguars’ stadium transformation and how modern venues are becoming year-round businesses. Khan describes plans to improve cooling, weather protection, premium seating, concourses, local food offerings and non-football programming while creating additional revenue for the team and Jacksonville.

Topics discussed include:

• Netflix’s strategy for live sports and entertainment events
• NFL games on Netflix and Christmas Day programming
• Creating global cultural moments versus buying traditional sports rights
• Netflix’s global reach and investment in local-language originals
• NFL franchise valuations and the economics behind their growth
• The Jacksonville Jaguars’ stadium redevelopment
• Premium seating, fan experience and non-game-day stadium revenue
• College football and other events as stadium revenue opportunities
• The NFL’s international growth and the Jaguars’ presence in London
• Streaming, broadcast television and the future of NFL media distribution
• Fantasy football, RedZone and changing viewing habits
• Fulham, Premier League economics and year-round venue development
• NFL ownership rules, debt limits and private equity
• What could drive future sports franchise valuations

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NFL Commissioner Roger Goodell joins Alex Sherman to discuss the league’s international expansion strategy, the possibility of a future overseas franchise, rising team valuations and the next era of NFL media rights. Goodell also addresses an 18-game season, streaming partners, sports betting and prediction markets, succession planning and the league’s next collective bargaining agreement.

Episode Notes

NFL Commissioner Roger Goodell sits down with Alex Sherman in Melbourne, Australia, ahead of the Rams-49ers matchup to discuss the NFL’s long-term growth strategy and the forces reshaping the league’s business.

Fresh off a four-year contract extension that could keep him as commissioner through March 2031, Goodell explains why international growth remains a major priority. He discusses plans to increase the number of NFL games played outside the United States, the growing global ambitions of players and the possibility that the league could eventually establish one or more international franchises.

The conversation also examines whether the NFL could move toward an 18-game regular season. Goodell says the league continues to evaluate converting preseason games into regular-season contests, while acknowledging that player health, safety and negotiations with the NFL Players Association would be central to any change.

Sherman and Goodell turn to the economics of the league, including surging NFL franchise valuations and whether those prices could lead the NFL to increase its current private equity ownership limits. Goodell says the league is not close to reaching its existing private equity caps and continues to see strong demand from investors.

Media rights are another major focus. Goodell discusses how the NFL is preparing for a rapidly changing television and streaming market, including relationships with Netflix, YouTube and Amazon. He says the league is evaluating how its current rights packages could be restructured while continuing to prioritize broad availability for fans across broadcast television and emerging digital platforms.

The interview also covers the NFL’s partnerships with DraftKings, FanDuel and Fanatics and why the league has taken a more cautious approach toward prediction markets such as Kalshi and Polymarket. Goodell says stronger regulation, consumer protection and preservation of game integrity are important considerations before the NFL moves forward with those platforms.

Goodell closes by discussing succession planning, the expiration of the current collective bargaining agreement in 2031 and why the NFL is already thinking five, 10 and 15 years ahead on labor, media, international growth and stadium strategy.

Timestamps:

04:09 Roger Goodell on his new contract and the NFL’s priorities

05:17 Expanding the NFL’s international schedule

06:16 The possibility of an international NFL franchise

07:18 League expansion and a potential 18-game season

08:23 NFL franchise valuations and private equity ownership

10:09 Preparing for the next NFL media rights negotiations

10:47 Netflix, YouTube, Amazon and the shift to streaming

11:33 Could international games become a separate media package?

12:12 Repackaging NFL broadcast and streaming rights

14:47 Sports betting partnerships and prediction markets

16:22 NFL personal conduct policy

16:41 Goodell’s contract and succession planning

18:01 Looking ahead to the 2031 collective bargaining agreement

19:00 International games, an 18-game season and NFLPA negotiations

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Josh Harris explains how the Philadelphia 76ers landed LeBron James and why superstar athletes, live sports and new stadium developments are reshaping the economics of professional teams. Then, WTA Chair Valerie Camillo discusses women’s tennis growth, player schedules, equal prize money and her vision for the WTA Finals.

Episode Notes

Josh Harris joins Michael Ozanian for an in-depth conversation about the rapidly changing business of professional sports, beginning with how LeBron James became a Philadelphia 76er.

Harris walks through the recruitment process after James opted out of his Lakers contract. What initially seemed like an unlikely possibility became a serious pursuit after Philadelphia strengthened its roster. Harris describes how the organization’s leadership and connections with James’ team helped the Sixers enter the conversation, while ultimately crediting James with choosing Philadelphia based on where he believed he could win and spend the final chapter of his career.

The impact was immediate. Harris says James energized Philadelphia, drove enormous ticket demand and created new sponsorship opportunities while changing the energy inside the organization.

The conversation expands into Harris’ broader sports and real-estate portfolio. He discusses multibillion-dollar arena and stadium developments involving the Sixers and Washington Commanders, along with surrounding restaurants, hotels, housing and entertainment. Harris argues that sports venues increasingly function as anchors for communities, economic development and live experiences.

He also discusses the Washington Commanders’ brand evolution, soaring franchise valuations, private equity, youth sports, NIL and why he does not believe sports team values are in a bubble.

Later, WTA Chair Valerie Camillo joins Alex Sherman for a wide-ranging conversation about the future of women’s tennis and the business strategy behind the WTA.

Drawing on her experience with the Philadelphia Flyers, Washington Nationals and NBA, Camillo explains why one of her biggest priorities is bringing a stronger fan-first mindset to professional tennis. She discusses the WTA’s global audience, its push for sustainable commercial growth and the continued pursuit of equal prize money.

Player scheduling is another major focus. Camillo says players have consistently raised concerns about the length and sustainability of the tennis calendar, including the number of tournaments they are required to play. She previews changes planned for the 2027 season and says more substantial calendar changes could follow in 2028.

Camillo also discusses Coco Gauff and the next generation of WTA stars, athlete advocacy, gender eligibility policies, pickleball, sports betting and prediction markets, maternity benefits, Serena Williams, AI and technology. She outlines an ambitious vision to make the WTA Finals the “Super Bowl of women’s sports.”

Topics discussed

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UConn women’s basketball coach Geno Auriemma joins Alex Sherman to discuss the state of the WNBA, his demanding coaching philosophy, the UConn dynasty, NIL and recruiting, and legendary rivalries with Pat Summitt and Dawn Staley. Auriemma also reflects on sustained success, leadership, accountability and what could eventually make him retire.

Episode Notes

Geno Auriemma, the longtime UConn women’s basketball coach and 12-time national champion, sits down with Alex Sherman for a wide-ranging conversation about winning, leadership and the evolution of women’s basketball.

Auriemma reflects on the coaches who shaped his philosophy, including Hubie Brown, Dean Smith, Pat Summitt, Kay Yow, Leon Barmore and Cathy Rush. He also explains how his early coaching experiences in Philadelphia and at the University of Virginia helped prepare him to build UConn into a national powerhouse.

The conversation explores the current attention surrounding the WNBA and Auriemma’s belief that discussion of women’s basketball should remain centered on the game, its players and the quality of competition. He also shares his perspective on leadership, accountability and the challenge of communicating strong standards in different environments.

Auriemma addresses the demanding coaching style featured in Apple’s documentary about the UConn dynasty, explaining why he continually pushes players toward what he believes is their full potential. He discusses how that philosophy translates beyond basketball, why high expectations matter, and why he has never been comfortable becoming satisfied after winning.

The episode also covers his rivalry and relationship with legendary Tennessee coach Pat Summitt, the rise of Dawn Staley and South Carolina, UConn’s championship drought before its 2025 title, and the role that health and timing can play in winning an NCAA championship.

Auriemma also weighs in on NIL and college basketball recruiting. He explains why UConn continues to prioritize players who want the challenge of the program rather than recruits whose college choice is driven primarily by money. Finally, he discusses retirement and says he has not yet reached the point of deciding when his coaching career will end.

Topics discussed:

Timestamps:

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Pro Padel League CEO Michael Dorfman explains why padel is rapidly gaining traction in the U.S. and how the league is turning the fast-growing racket sport into a professional sports business. He discusses franchise valuations, athlete compensation, media strategy, live events, demographics, investment interest, and the sport’s potential alongside tennis and pickleball.

Episode Notes

Padel is one of the fastest-growing racket sports in the world, and the Pro Padel League is betting that its combination of accessibility, competition, social connection, and spectator appeal can make it a major professional sport in the United States.

In this episode, Alex Sherman speaks with Pro Padel League CEO Michael Dorfman about how padel works, why participation is accelerating, and how the league is building a professional sports ecosystem around the game. Dorfman describes padel as a hybrid of tennis and squash that is played exclusively in doubles, with glass and metal walls keeping the ball in play. He says the sport has more than 35 million players globally and that U.S. participation has grown dramatically since the league launched in 2023.

The conversation explores the business model behind the Pro Padel League, including its 10 city-based franchises, men’s and women’s teams, tournament structure, prize money, player compensation, and developmental ambitions. Dorfman also discusses the league’s capital raises and the sharp rise in franchise valuations, with early teams selling for $200,000 and more recent valuation marks reaching into the double-digit millions.

Media and audience growth are another major focus. Dorfman explains why the league partnered with CNBC and Versant for live national broadcasts and why exposure, rather than near-term media-rights revenue, is currently the priority. He also discusses padel’s affluent, largely millennial audience and the sport’s growing popularity in markets including Miami, Los Angeles, New York, Austin, Chicago, and Atlanta.

Topics discussed:

Dorfman also explains his broader investment thesis around live sports: as more of everyday life becomes automated, he believes demand will increase for distinctly human, in-person experiences. For the Pro Padel League, that means building participation, community, live events, broadcast exposure, and professional opportunities before maximizing media monetization.

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This episode explores two ambitious plans to reshape professional sports. First, Shaquille O’Neal joins CNBC’s Alex Sherman to discuss Dunkman, a competitive league created to showcase elite independent dunkers from around the world. Shaq explains why basketball’s most spectacular play deserves its own professional platform—and why today’s best dunkers are not necessarily NBA stars.

Dunkman brings international competitors together in a structured league with professional judging and an initial $500,000 prize. Shaq says that figure could rise to $1 million as the competition grows. He also explains how online video and social media have helped independent athletes build audiences, develop increasingly difficult dunks and create opportunities outside traditional professional basketball.

The league evaluates performances across seven categories: difficulty, execution, originality, power, vertical leap, completion and crowd reaction. Shaq also shares memories of watching Michael Jordan and Dominique Wilkins, explains why he never entered the NBA Slam Dunk Contest and offers a blunt assessment of why the event has declined. For Shaq, elite athletes have a responsibility to reward fans by competing and putting on a memorable show.

In the second conversation, Alex speaks with Larry Berg following the announcement that Berg will become the next commissioner of Major League Soccer. Berg discusses his lifelong connection to soccer, his experience as a minority owner of LAFC and his desire to help grow the sport across the United States and Canada.

Berg describes MLS as being at a “fork in the road” following the World Cup. He argues that the league already has world-class infrastructure but must now improve the quality of play, strengthen youth development, refine its roster and spending rules, and capitalize on increased interest in North American soccer.

He introduces the idea of an “MLS 3.0” grand bargain in which owners consider multiple interconnected reforms rather than debating one issue at a time. Berg also explains why European-style promotion and relegation could discourage investment in American stadiums, training facilities and player rosters. Instead, he suggests that MLS can create competitive jeopardy through knockout matches, playoff changes and performance-based spending opportunities.

Topics discussed:

Approximate timestamps:

01:30 Why Shaq believes dunking deserves a professional league

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Legendary broadcaster Andrés Cantor joins Alex Sherman to assess the legacy of the 2026 FIFA World Cup and its potential to accelerate soccer’s growth in the United States. Cantor also discusses the U.S. men’s national team, Lionel Messi, Argentina’s dramatic run, future World Cup media rights, and his plans to continue calling major matches.

Episode Notes

Telemundo lead FIFA World Cup play-by-play broadcaster Andrés Cantor joins Alex Sherman to reflect on the 2026 tournament and what it could mean for the future of soccer in the United States.

Cantor explains why the expanded 48-team World Cup exceeded his expectations, highlighting the competitiveness of first-time participants and the relative lack of one-sided matches. He also compares the logistical challenges of traveling across the United States, Mexico, and Canada with the compact experience of the 2022 World Cup in Qatar.

The conversation explores whether the tournament represents a true turning point for American soccer. Cantor considers how new and casual fans may begin following MLS, the Premier League, La Liga, the UEFA Champions League, and international stars such as Kylian Mbappé, Erling Haaland, Lionel Messi, Harry Kane, and Alexis Mac Allister.

Cantor also shares his perspective on the U.S. men’s national team’s performance, including the emotional effect of FIFA’s decision to overturn a red card before the team’s match against Belgium. He discusses his enduring enthusiasm for broadcasting, the emotional connection he feels when calling Argentina and the United States, and why retirement is not currently part of his plans.

The episode also examines the next cycle of FIFA World Cup media rights. Cantor addresses the possibility of calling future tournaments in either Spanish or English, whether at Telemundo, NBC Sports, or another broadcaster.

Later, Cantor revisits Argentina’s dramatic victory over England, Lionel Messi’s possible final World Cup, and FIFA president Gianni Infantino’s open letter responding to criticism of the tournament. The interview concludes with Cantor delivering his signature goal call for Sherman.

Topics discussed:

Timestamps:

01:34 The expanded 48-team World Cup format

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ESPN Chairman Jimmy Pitaro explains how the network plans to grow amid cord-cutting, rising sports-rights costs and the shift to direct-to-consumer streaming. He also discusses ESPN’s interest in future World Cup rights, local NBA broadcasts, its expanding NFL relationship and the role of ESPN within Disney’s broader streaming strategy.

ESPN is navigating one of the most consequential transitions in sports media: maintaining the value of traditional pay television while building a direct-to-consumer streaming business that reaches fans wherever they choose to watch.

In this episode of CNBC Sport, Alex Sherman speaks with ESPN Chairman Jimmy Pitaro about the network’s strategy for growing audiences and operating income as cord-cutting continues, advertising remains under pressure and the cost of premium sports rights rises.

Pitaro explains why ESPN is pursuing parallel distribution paths rather than abandoning the cable bundle. Traditional pay-TV subscribers can access ESPN’s direct-to-consumer features through the ESPN app, while viewers without cable can subscribe through ESPN’s standalone service or streaming bundles involving Disney+, Hulu, NFL+ Premium and Fox One.

The conversation also explores ESPN’s ambition to remain the “front door” for sports fans by reducing friction and bringing more live sports content into a single app. Pitaro discusses the integration of CW Sports and NFL Network programming, as well as ESPN’s broader partnership with the NFL following its acquisition of NFL Network, NFL RedZone linear rights and the RedZone brand.

Other topics include ESPN’s disciplined approach to sports-rights spending, its interest in bidding for the 2030 and 2034 FIFA World Cups, and its desire to help solve the local sports-media challenges created by the decline of regional sports networks. Pitaro outlines how ESPN could use its reach and technology to distribute local NBA and other in-market games, potentially through non-exclusive agreements.

The episode also covers Major League Baseball’s labor outlook, changes improving the pace and presentation of baseball, the growth and current tensions surrounding the WNBA, and ESPN’s strategic importance within Disney under CEO Josh D’Amaro.

Topics discussed:

Timestamps:

01:45 ESPN’s ratings growth and parallel distribution strategy

Brands, leagues and services mentioned include ESPN, CNBC Sport, Disney+, Hulu, NFL Network, NFL RedZone, NFL+ Premium, Fox One, CW Sports, YouTube TV, DirecTV, Comcast, Charter, the NFL, NBA, WNBA, MLB, NHL and FIFA.

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Bill Foley joins Alex Sherman to explain why his ownership group is positioned to bring an NBA expansion team to Las Vegas, followed by an interview with Rick Horrow on the excitement and business impact of the World Cup.

Bill Foley, owner of the Vegas Golden Knights, joins Alex Sherman for a detailed conversation about his bid to own a potential Las Vegas NBA expansion franchise. Foley lays out why he believes Las Vegas is ready for an NBA team, how the Golden Knights’ success has prepared his organization, and what kind of ownership culture he would bring to professional basketball.

The episode also features an interview with Rick Horrow, who discusses the excitement around the World Cup and its impact on the global sports business landscape. Together, the conversations explore how major sports franchises, international soccer, media rights, fan engagement, and live events continue to shape the future of sports ownership and investment.

Topics discussed:

Timestamps:

01:30 Bill Foley’s pitch for owning a Las Vegas NBA franchise

Mentioned in this episode:

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