CNBC Sport

By CNBCSports Business Investing Management

CNBC Sport episodes

May 21Utah sports owner Ryan Smith on the Jazz reset, tanking debate and Jazz-Mammoth synergies 5/21/26
What you’ll hear in this episode
Why the Jazz chose an organizational reset—and how owners weigh “push forward” vs. “scale back” when assets, caps, and timelines collide

The incentives (and controversy) behind tanking, including Utah’s NBA fine and what the league may change next

How a top lottery pick can reshape an NBA franchise faster than almost any other sport

Why Ryan Smith prioritizes passion-fit in sports ownership (and why he stepped away from soccer)

The Utah Mammoth’s early momentum: building a new fanbase, culture, and “firsts” from the ground up

A behind-the-scenes look at a unique shared hub for pro basketball and hockey—including community access and integrated sports medicine

The future of regional sports networks: reach vs. revenue, direct-to-consumer streaming, free over-the-air broadcasts, and what comes next for NBA local rights

Timestamps
01:44 — Why the Jazz chose a full reset and stockpiled draft assets

03:33 — Tanking incentives, the NBA fine, and whether the league should intervene

07:29 — Draft lottery reform ideas (including “flat odds”) and unintended consequences

10:03 — No. 2 pick stakes and whether “Utah ties” matter in draft decisions

13:06 — The Jazz/Mammoth shared facility vision: practice, corporate hub, and community access

15:35 — What surprised Ryan about owning an NHL team and why Utah embraced hockey fast

18:30 — Expansion mindset in sports ownership and why it’s “addicting”

20:25 — Why Smith exited soccer ownership: timing, focus, and personal passion

22:24 — Jazz Plus, local broadcast reach, and how regional sports media may evolve

28:16 — The biggest surprise of sports ownership: fandom, live events, and city impact

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41 min
May 14Ronda Rousey Talks Fighter Pay, Streaming Wars, and Her Return Fight With Gina Carano 5/14/26
Ronda Rousey joins Alex Sherman to unpack the economics of MMA, why UFC fighter pay remains a structural issue, and how the streaming era could reshape the business of fighting. Starting from the realities faced by lower-tier athletes—minimum per-fight guarantees, coach percentages, and taxes—Rousey explains how quickly “big league” fighting can still add up to poverty-level income. She argues the core problem is leverage: without credible alternatives to the UFC, fighters are stuck with take-it-or-leave-it contracts.
Rousey outlines why she believes streaming is the inflection point. In her view, streamers can pay upfront for premium fight content in a way that reduces reliance on traditional pay-per-view mechanics—and makes it feasible to build meaningful competition. She describes her push to work with MVP and why she sees Netflix as the only platform big enough to truly challenge the UFC at scale.
The conversation also covers Rousey’s upcoming return to fighting against Gina Carano—how the matchup idea originated, why early UFC talks didn’t ultimately land, and how the modern distribution shift changed the opportunity set. Rousey contrasts the classic pay-per-view structure (earning a share per view) with the newer streaming-first deal model, noting she can’t disclose exact numbers yet but expects details to be publicized after the fight.
Beyond the money, Rousey makes the case that fight promotions win when they sell stories, not just belts or brands—pointing to how major streaming events can draw massive attention when audiences care about the fighters involved. She also reflects on the overlap between combat sports and entertainment, her path through WWE and acting, and the mindset she brings to competition—whether she likes an opponent or not.

Key topics covered
Minimum UFC pay math and why three fights a year can still be “poverty level”

Why competition (not just incremental raises) is the leverage fighters need

How the streaming model changes MMA economics and upfront rights payments

Why Rousey believes fewer, bigger “can’t-miss” cards could outperform oversaturation

Pay-per-view incentives vs. streaming deal structures for top fighters

Storytelling, star power, and why audiences tune in to fighters—not just titles

WWE culture vs. MMA culture, and the entertainment skill set behind pro fighting

Timestamps
01:31 Why minimum per-fight pay can translate into “poverty level” annually

01:48 Rousey’s fix: competition and a real alternative to the UFC

03:25 Oversaturation vs. “can’t-miss” marquee fights (fewer events, stacked cards)

04:36 How the Gina Carano comeback idea came together

06:13 How pay-per-view fighter compensation works (per-view share)

06:43 Streaming-era pay models and why specific numbers can’t be shared yet

08:43 Relationship with Dana White vs. the UFC as a company

11:49 Why fighting and acting careers overlap (MMA as entertainment)

13:13 WWE vs. UFC: collaborative show-building vs. adversarial competition

14:06 Is this a one-time return—or a second chapter?

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26 min
May 07Hall of Fame MLB pitchers Mariano Rivera and CC Sabathia 5/7/26
Recorded live at Latinos in Sports in Miami, CNBC’s Alex Sherman sits down with New York Yankees icon Mariano Rivera for a wide-ranging conversation on the business—and evolution—of Major League Baseball, Rivera’s unlikely path from Panama to the Hall of Fame, and what he’s building after baseball.
Rivera weighs in on one of MLB’s biggest looming issues: whether the league should adopt a salary cap, and what “fair competition” should look like across big- and small-market teams. He also reacts to the sport’s recent rule and gameplay shifts—from the pitch clock to automated strike-zone technology—and shares why he believes some changes risk removing the “human factor” that makes baseball special.
The conversation then turns personal: Rivera recounts growing up without access to proper equipment, learning English after arriving in the U.S., and how a chance moment pitching in one game led to a Yankees tryout. He also tells the story of how the cutter emerged in 1997—an accidental discovery that became one of the most dominant pitches in sports history.
Finally, Rivera opens up about post-retirement life, from his early business moves to his newest venture: “Most Heat,” a hot sauce line he calls authentic, passion-driven, and built to bring “the heat” from the mound into fans’ kitchens—complete with a May 15 launch at the Major League Baseball store in New York City.
Key topics covered:
MLB economics and competitive balance (salary cap and revenue sharing)

Rule changes: pitch clock, automated strike-zone challenges, and the “human factor”

Rivera’s rise from Panama to the Yankees (and learning English in the minors)

The origin story of the cutter and becoming “The Sandman”

Post-career entrepreneurship and launching “Most Heat” hot sauce

Timestamps:
01:56 Why Latinos are driving sports economy growth—and why Miami matters

15:05 Rivera on how much baseball he watches now

16:41 Salary cap debate: “Yes… it has to be fair to everybody”

19:13 Rule changes Rivera likes (and doesn’t like), including the pitch clock

22:53 Growing up in Panama without proper gear—and why it shaped him

28:37 Learning English after reaching the U.S. minors

30:48 The cutter origin story (1997) and why it changed everything

33:08 A George Steinbrenner story from the 2000 World Series era

35:14 “Enter Sandman” and why Rivera never listens to it outside the stadium

37:26 Rivera on giving back, mentoring young athletes, and prioritizing education

38:28 Why he got into a car dealership—and how “Most Heat” came together

43:53 “Most Heat” announcement + May 15 MLB store launch in NYC

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43 min
April 30F1 Academy’s Mission: Susie Wolff on Building a Pathway for Women in F1 4/30/26
Susie Wolff (Managing Director, F1 Academy) sits down with Alex Sherman for a candid conversation about what F1 Academy is building—and why its mission goes far beyond a single “first woman in F1” headline. Wolff breaks down the structural and financial barriers that have kept women from advancing in motorsport, how F1 Academy is designed to grow a real talent pipeline, and why visibility matters for the next generation of drivers.

Key topics and takeaways:
The real end goal of F1 Academy: developing talent, challenging perceptions, and expanding opportunity—not creating permanent segregation in racing

Why funding matters: reducing the pay-to-race burden so drivers can prove performance without the usual financial gatekeeping

Whether an all-women series could evolve in the future—and why the current priority is building depth in the talent pool

Momentum in fandom: Wolff points to the rapid growth of younger female fans and what that means for the sport’s future

Brand and team alignment: how F1 Academy secured buy-in from all F1 teams to run shared car identity and liveries, and why that matters for legitimacy and reach

The media flywheel: why Formula One’s storytelling boom (Drive to Survive and beyond) changed the sport’s reach—and what that template unlocks for new audiences

Wolff’s personal journey: early racing roots in Scotland, learning to compete in a male-dominated environment, and the mindset shift that comes with confidence and leadership

How the NFL Draft became a traveling mega-event—and why it delivers huge value for the league and host cities

“Monetizing hope”: why the draft functions like a Super Bowl moment for every fan base, even the worst teams

The mock draft / draft grades media machine—and why the “report cards” are largely unknowable in real time

Why investor demand is pushing up valuations in MLB, NHL, and the NWSL as NFL/NBA prices soar

NWSL expansion fees as a proxy for broader second-tier sports growth and scarcity dynamics
Conversation timeline (mm:ss):
02:10 Why F1 Academy exists and what success really looks like

03:31 Should there be a separate women’s racing league?

05:12 How F1 Academy got every F1 team to back the series

07:48 Wolff’s memoir Driven and lessons from racing’s toughest moments

09:45 How she got started in racing—and when F1 became the goal

12:30 Leadership ambitions, focus, and building F1 Academy for the long term

13:21 Why docuseries changed F1’s global audience

15:18 New storytelling partnerships and reaching new fans

16:49 What needs to change next: education, access, and expanding opportunity

Links & resources:
F1 Academy (official): https://www.f1academy.com/

F1: The Academy on Netflix: https://www.netflix.com/title/81722244

Hello Sunshine (Reese Witherspoon’s production company): https://hello-sunshine.com/

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33 min
April 23Heisman Winner Fernando Mendoza on the NFL Draft 4/23/26
Fernando Mendoza joins Alex Sherman to discuss an unconventional draft run-up, the mindset needed to lead at the next level, and how he’s approaching brand-building and money management before ever taking an NFL snap.
They start with Mendoza’s pre-draft interactions—combine meetings with multiple teams and a single Top 30 visit—plus what it means to focus on finding the one franchise that truly believes in you. From there, Mendoza reflects on meeting Tom Brady during his Raiders visit, why Brady’s mental and emotional approach stands out to him, and how he plans to learn from great coaches and teammates if that becomes his landing spot.
Mendoza also opens up about the role sports psychology plays in his development: visualization, breathing habits, sleep, and a daily commitment to improving physically, mentally, and emotionally. Even as a projected top pick, he explains why he still sees himself as “at the bottom of the totem pole” among NFL quarterbacks—and why earning leadership matters more than being handed it.
On the business side, Mendoza discusses his education path (including business programs at Cal and Indiana), the importance his family places on being informed, and how NIL has changed the timeline for athletes to form major brand partnerships. He highlights his partnership with Boss (alongside Adidas), and how presenting well off the field is part of the identity he’s intentionally building.

Key topics covered:
Draft process realities: combine meetings vs. Top 30 visits, and why “you only need one team”

Meeting Tom Brady through the Raiders and what Mendoza hopes to learn from him

Sports psychology habits: visualization, breathing, sleep, and mental performance training

Competing vs. starting right away: Mendoza’s “whatever the coach decides” approach

NIL partnerships, personal brand building, and why Boss fits the “class act” standard he’s aiming for

Investing priorities: saving, living frugally, giving back, and his family-first motivation tied to his mother’s MS

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40 min
April 16 Charlotte Hornets' Shelly Cayette-Weston on how the NBA franchise is rebuilding growth, revenue, and the fan experience 4/16/26
CNBC's Lillian Rizzo joins Alex Sherman on what may really be behind the Justice Department's antitrust investigation into the NFL. Then, Alex speaks with Shelly Cayette-Weston, President of Business Operations for the Charlotte Hornets, about how the organization is strengthening its business foundation while building a winning culture on and off the court.
She details what the president of business operations role looks like for an NBA franchise, from overseeing ticket sales, sponsorships, operations, and community engagement to leading fan experience strategy across more than 150 events at Spectrum Center each year. She also explains how the Hornets are measuring progress through attendance growth, business performance, and deeper community connection.

Alex and Shelly also explore why the Hornets’ recent gains are about more than improved on-court play. Shelly points to long-term ownership vision, fan re-engagement, market growth in Charlotte, and major investments like the $245 million Spectrum Center renovation as key drivers of momentum. She also discusses the changing regional sports media landscape, and how the organization is thinking about future revenue growth across ticketing, premium experiences, partnerships, and media rights.

Topics discussed:
01:57 Hornets attendance growth, franchise momentum, and building a winning culture
03:08 Lessons Shelly Cayette-Weston brought from the Cleveland Cavaliers to Charlotte
05:18 Why business performance is not solely dependent on wins and losses
06:53 How fan engagement, legacy fans, and the Spectrum Center renovation boosted attendance
07:39 The Hornets’ revenue strategy across ticket sales, sponsorships, premium, and media
10:08 The collapse of the regional sports network model and what it means for local NBA rights
11:29 What is next for the Hornets, including the Novant Health practice facility and long-term fan experience plans
12:47 Why the franchise believes its young core and draft capital position it for sustainable growth

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27 min
April 09 Lindsey Vonn on Recovery, Comebacks, and the Business of Ski Racing 4/9/26
Dom Chu joins Alex Sherman to break down the latest storylines heading into the Masters. Then, Lindsey Vonn joins Alex to share how she’s recovering physically and mentally after a major crash—and what it could mean for the final chapter of her ski racing career. They also dig into longevity in elite sports, why Olympic athletes struggle financially, and how storytelling and women’s sports investing are changing the game.
Lindsey Vonn sits down with Alex Sherman for a candid conversation about recovery, resilience, and what it really takes to build a lasting career in an Olympic sport. Lindsey opens up about where she is in rehab—moving from a wheelchair to crutches—and how she’s balancing patience, progress, and the uncertainty of what comes next.
They discuss the realities of returning from a severe injury, including the impact of multiple surgeries, cartilage damage, and the steps still ahead (including hardware removal and an ACL replacement). Lindsey also shares her mindset around risk and crashing in downhill skiing—and why she focuses on progress rather than fear.
The conversation expands into the bigger picture of longevity in sports, with reflections on athletes competing at older ages and what motivation, physical readiness, and personal drive look like later in a career. They touch on Tiger Woods’ comeback efforts, as well as examples like Tom Brady and Lewis Hamilton, and what inspiration (and caution) can come from watching other elite competitors push the timeline.
In the second half, Lindsey gets into the business side of skiing and Olympic sports: how few athletes can truly make a sustainable living, what she learned early from her father about building a career beyond results, and what she believes could help the sport grow. Her take is clear: sports are entertainment, and athletes who can tell their story—especially through social media—can build deeper fan connection, visibility, and long-term earning power.
Lindsey also shares why she’s passionate about investing in women’s sports, why she believed the category was undervalued, and how cultural momentum is finally “moving the needle” across leagues and athletes. She talks about taking a personal, values-driven approach to partnerships and mentions a campaign with InVivid focused on educating people about antibodies and immune health.

Timestamps (select moments)
01:56 Why she doesn’t want her crash to be the final chapter—and what’s still ahead medically
03:03 Recovery outlook, fasciotomy concerns, and regaining function
04:26 Risk, crashing, and why she doesn’t dwell on fear
06:07 Longevity in sports: Tiger Woods, Tom Brady, and competing later in life
08:03 The economics of ski racing and why most athletes can’t earn a strong living
09:57 How athletes can grow their sport through storytelling and social media
11:07 Values-driven partnerships, sponsorship longevity, and the InVivid antibodies campaign
12:56 Investing in women’s sports and why the category has been undervalued
Links & Resources
Otter.ai transcription: https://otter.ai

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30 min
March 26Sports Professor Rick Horrow and Soccer Legend Landon Donovan 3/26/26
Landon Donovan sits down with Alex Sherman for a wide-ranging conversation on the 2026 World Cup, the business and visibility challenges facing Major League Soccer, and the personal realities behind elite performance—including depression, therapy, and the pressure to be “on” at all times.
Key topics covered
Why the 2026 World Cup could be a true “before and after” moment for American soccer (and why it could also be overhyped)

What a “successful” World Cup looks like for the USMNT: a deep run plus iconic moments that change public perception

How MLS stacks up against top European leagues—and what billionaire ownership could mean if spending and ambition rise

The MLS–Apple TV model: what worked, what limited reach, and why broader promotion still matters for a growing league

Donovan’s book motivations: moving beyond highlight-reel memoirs to talk honestly about depression, family, and identity

A candid look at depressive episodes, including a drug-induced crisis and how meditation helped him survive it

Youth soccer in the U.S.: “pay-to-play,” win-first culture, broken incentives—and Donovan’s stated mission to change it
Timestamps
10:26 — Why 2026 could reshape U.S. soccer, and a 1994 World Cup flashback

10:28 — What “success” looks like for the USMNT (deep run + iconic moments)

10:30 — MLS ownership, spending power, and what exposure to the World Cup can unlock

10:31 — MLS vs. Europe: where the league stands today

10:36 — The MLS–Apple TV deal and the challenge of reach vs. revenue

10:37 — Why Donovan wrote a book—and why mental health is central to it

10:43 — Depression, suicidal thoughts, and the role of therapy and meditation

10:47 — Retirement, ownership interest, and why youth soccer reform is his “next frontier”

Resources mentioned
Stream Major League Soccer on Apple TV

MLS viewing FAQ and details on watching matches

Lincoln City FC (club Donovan mentions investing in)

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34 min
March 19 CBS Sports’ Tracy Wolfson and Hall of Fame Coach Jim Boeheim 3/19/26
Legendary Syracuse head coach Jim Boeheim sits down with Alex Sherman a few days before March Madness to break down the realities of NIL, the transfer portal, and the shifting power structure in college basketball. Boeheim argues the sport has, in many ways, improved on the court—older rosters, more talent staying in school, and an influx of international players—but says meaningful regulation (contracts, salary caps, transfer limits) is still needed to prevent the system from spinning further out of control.

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27 min
March 12 Tyler Reddick on 3 Straight NASCAR Wins, Michael Jordan, 23XI, and AI 3/12/26
Tyler Reddick joins Alex Sherman to unpack a red-hot start to the NASCAR season—three straight wins—and what’s actually behind the momentum. Reddick explains how experience at specific tracks and lessons from previous near-misses helped him execute when it mattered, including reflecting on coming up just short in the Daytona 500 and using prior failures as motivation to close races out.

A big focus of the conversation is 23XI Racing’s leadership—and the reality of what it’s like to drive for an ownership group that includes Michael Jordan and Denny Hamlin. Reddick shares a favorite Jordan moment that turned into real performance fuel, and he pushes back on the idea that Jordan is “just the money,” describing how both Jordan and Hamlin contribute leadership, perspective, and hands-on involvement (including Hamlin’s role in building out the team’s “Airspeed” facility).

They also zoom out to the business of NASCAR: what a winning streak can do for sponsorship conversations, why partner exposure matters as much as prize money, and how driver compensation can vary widely depending on contract structure (salary vs. winnings/purse-heavy deals). Reddick addresses whether any fallout lingered after 23XI’s lawsuit against NASCAR and the eventual settlement, and he explains why, from his seat, things stayed professional at the track and the relationship is moving forward.

Finally, Reddick weighs in on NASCAR’s current trajectory amid leadership changes and shifting motorsports attention, including the role of the Next Gen car and why tire strategy (and Goodyear’s changes) can significantly impact racing quality. The episode closes with a look at AI: while Reddick doesn’t use AI in-car, he says teams are exploring how AI might help them process overwhelming amounts of performance and race data more efficiently over time.
01:30 Michael Jordan’s “jab” that motivated Reddick to improve on superspeedways
03:05 How Michael Jordan and Denny Hamlin actually lead at 23XI Racing
05:13 23XI’s lawsuit vs. NASCAR, the settlement, and whether anything lingers
06:44 Winning streak economics: sponsors, exposure, and new partnership interest
08:06 How driver pay works: salary vs. winnings and contract structure
09:33 NASCAR’s direction, leadership change, Next Gen car, and why tires matter
11:21 AI in NASCAR: using AI to sort racing data (and why it’s still early)
13:29 Phoenix sendoff and Michael Jordan’s leadership style

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22 min

About CNBC Sport

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CNBC Sport brings you the convergence of sports, business, and investing. Each week, we sit down with the biggest names in sports - from league commissioners and top athletes to team owners and…