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Billion dollar price tag Peter -- Has thought long and hard about exactly that issue he is one of the new owners of the Los Angeles Dodgers and he joins us now.
In a Fox Business exclusive Peter congratulations.
So what are they coming back to Brooklyn first question that.
-- well you know.
-- cows jump over the normal -- are I was just joking they're gonna say don't look LA deserves.
And they deserve a lot better than what they've had the past couple years and that's where you guys put this.
Deal together how did the deal come together.
Well I think I'm mark Walter who is the chairman of Guggenheim -- the Guggenheim group.
Talk boldly managed to corral and Magic Johnson.
Magic Johnson corralled me.
I have a long history magic -- was partners with them but when -- running Sony -- -- as theaters and we build these value -- Palin.
He's part is that me in the in -- meet -- baseball.
The famous Dayton dragons -- you know the all time record he is you know the co owner.
And so we had a history together so -- Mitterrand and I think that's an okay I'm gonna come right back to -- -- but we do have some earnings and Linkedin and then we're gonna get right back to go ahead Robert whether numbers.
David Linkedin shares are jumping in after hours trading better than expected -- fifteen cents per share as he adjusted earnings number -- nearly double the nine cent estimate revenue also ahead of expectations.
188 and one half million dollars there and the key thing here for the shares and after hours the forecast second quarter revenue above expectations there.
As much as 215 million bucks -- full year revenue also raising that outlook the entire new range above the average estimate from analysts -- The shares amid -- -- as much as 900 million dollars -- also.
Buying the slight share content bugs sharing community here for a 119 million dollars and small deal but also released along with the earnings again shares up.
They better than expected and better and -- outlook as well.
-- revenue but we've got a lot more to say about Linkedin a little later in the show was we continue we'll continue to watch those shares jumped so.
Let me go back to Peter -- -- new -- one of the new owners of the Los Angeles Dodgers.
The Dayton -- -- you mentioned that you were working with Magic Johnson with this sports franchise.
Made it successful anything you can learn from a minor league team that you can apply to the Dodgers.
Hey location based entertainment -- our butts in seats how do you get people to leave their home and go to a communal event to spend three hours and planet would to a -- -- four people.
And the secret is.
Fan experience what's in it for them.
It's really there is no secret sauce other than that if you don't provide a robust fan experience they won't -- early advocates for you and you will not have success.
-- you add something with the Dayton drag it's called the dragon university.
In which you you had to make sure that everybody who work there.
Went through this program to learn how to deal -- people from what I've heard from some of my LA friends.
The Dodgers could use a little of that.
Well I think the truth is that that's that's something that they might have been remiss -- -- Dealing with over these last number -- as they forgot that the -- -- the most important ingredient you know.
They were the key secret sauce in making the whole business work and when you forget what's in it for them when you don't aim -- them.
You image transaction dream -- their wallet instead of the arts you'll lose them you might win once in awhile but you'll lose them you have to win on the field.
But you have to win the fans' hearts and they have to come back and back and back and back it's not a one time situation.
So if everything isn't good the parking if it isn't good -- -- in the bathrooms the concessions the -- the merchandising -- Already aren't -- wanna a lot of LA Dodgers fans there were simply worried about their own safety by going to the games.
Well I think -- that matter little overblown I think the Nigerians is that a history of being okay except for one very different held experienced before we don't -- but I think where where causes of the fact.
The management of this.
The -- stand cast in the group.
It's -- -- the fact that stand.
Safety and security and have friendliness is the key to great success I think that's where we're aiming we're looking at touching the -- from the moment they make the decision to.
The time they get on and make it -- really robust imaginative experience and it really is the key the key is people don't have to feel.
Just say that the feel secure they have to feel enjoyed get the -- seeing that the feel valued.
And I think that's the duplication -- -- and that's why the assets are valuable.
Now what that you mention is that TV screen is a little out of sync with the audio and and there's some very basic matters if you're gonna have to attend to.
Two point one billion is a lot of money are you gonna have enough after the sale left over for the upkeep in the revamp its.
Well they broke open three piggy banks to make the deal so now the question -- this is there any is there any meet left in the pig to get this planning.
-- there is there will be all the revenue and resources and resourcefulness and if necessary to create -- inexperienced to create the the valuable.
Field experience the players.
That's what's gonna be had we wouldn't going into the deal and that's we felt there commendable was ongoing it wasn't just transactional.
And and mark -- dot ball in the group.
Have continued to promise that says Stan Kasten who the CEO has continued to profess that that is that the indicated put a winning team on the field.
To provide those kinds of media experiences.
-- the better -- the better sound.
All of cross there.
Arena is a fifty year old stadium infrastructure has to be re engineered and re addressed across the board.
Like Magic Johnson is a lot bigger that you I just realize that Christmas.
Had you -- Live -- -- -- just realized that you always said another basketball players what are -- what is thanks to Peter and I realize that talk pay out what I -- president of money -- -- two point one billion how much of that was in cash because we are talking about money left over to to revamp the place.
Well truthfully it was all in cash the revenue was paid off there was some debt that was -- that was paid off but the end of the day today that was the amount of money that had to be day.
You had to put that money out.
But you nobody would put that kind of capital outlets they saw both at time horizon and a and a value proposition.
If we do everything right.
And if we can put a winning team on the field and if we can value the media and the other assets correctly I think we'll have a valuable proposition.
Nobody went into this did think it was just show is show business it's sports business and I think these are all very savvy individuals.
All of the group with the ownership group have been successful.
In business and I think that this is not where it's gonna stop this where it's gonna start.
Well I think it's one of the most under valued franchises and all of it -- -- world really and it's got such a rich history to it.
And nobody could do a better Peter Guber deal with the entertainment.
The promotional side Magic Johnson.
You guys got a great team congratulations Peter.
Thanks come to a -- absolutely I will you better believe it best of luck thank you.
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