The Deal with Alex Rodriguez and Jason Kelly

Hosted by Bloomberg

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Latest episode

Jun 2026

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EN-US

About the show

When sports, business and culture collide, there’s often a deal to be made. Join Alex Rodriguez and Bloomberg correspondent Jason Kelly as they get the inside track from corporate titans, sports champions and game-changing entrepreneurs on investing, strategy, reinvention and the ones that got away. The Deal is a Bloomberg Podcasts and Bloomberg Originals series that’s passionate, relaxed, insightful and inspirational. If you think you know these icons, prepare to be surprised. Hosts: Alex Rodriguez is chairman and chief executive of A-Rod Corp, an investment firm that backs startups and partners with global companies across real estate, sports and entertainment. While best known as a fourteen-time All-Star and World Series champion with the New York Yankees, Rodriguez is now an owner of the Minnesota Timberwolves and Minnesota Lynx sports teams and an on-air analyst for Major League Baseball. Jason Kelly is the chief correspondent of Bloomberg Originals. During his two decades at Bloomberg, Kelly has served as executive editor of Bloomberg Television, hosted Bloomberg Businessweek on television and radio, and also hosted Power Players and Next in Sports series. He’s also the author of two books, The New Tycoons, about the global private equity industry, and Sweat Equity, an inside look at the business of fitness.

Listen to episodes

60 recent

June 16, 202632 min

The Knicks Won Big. New York's Economy Won Bigger.

Not only have the Knicks brought New York City its first NBA title in 53 years, the team also brought their hometown a lot of money. An estimate by the New York City Economic Development Corporation puts the economic impact of the Knicks’ postseason run at $380 million. In this special NBA Finals episode of The Deal, NYC EDC Interim CEO Jeanny Pak joins Jason to break down the methodology behind the organization’s estimate and why the real number is probably much larger. She also talks about why sports are such a big economic engine for the city and how the EDC is supporting the development of Willet's Point as a sports and entertainment district. And Jeanny shares some numbers about the economic impact of sporting events like the World Cup, the MLB season and the U.S. Open.  Also in this episode, Alex and Jason marvel at the magic of the Knicks’ playoff run and discuss how the NBA can capitalize on this momentum. Plus, Alex welcomes the 2026 Knicks to New York City’s champion's circle and shares a special message for former Timberwolf Karl Anthony Towns.See omnystudio.com/listener for privacy information.

June 11, 202635 min

The "Americanization" of the World Cup, Plus Alex on the MLB CBA

It’s the first day of the 2026 World Cup! Ticket prices, transportation, security, visas, Attorneys General investigations and water bottles are just a few of the issues threatening to distract from the play on the pitch. Now that it's time for the football to actually be played, we will finally get some answers to the biggest outstanding questions: Will FIFA’s controversial ticketing strategy mean empty seats? Will host cities actually make back their investment? Will the legacy of this World Cup be its challenges or its triumphs? Athletic Senior Writer Henry Bushnell joins The Deal to discuss all the above and more. Henry tells Alex and Jason how FIFA may have misjudged the American market. He also shares his thoughts on why the MLS has already missed the moment to capitalize on this summer’s soccer momentum, which American city will “win” the tournament and how the 2026 World Cup will be remembered.  Want more World Cup? Tune in to Bloomberg's Big Take episode Who's Really Paying for the World Cup? You can also watch this interview on YouTube.See omnystudio.com/listener for privacy information.

June 4, 202623 min

FIFA’s Jill Ellis Says the World Cup Will be “Magical”

Jill Ellis has seen soccer from every angle: as an elite player, as the two-time World Cup champion coach of the U.S. Women’s National Team and as an NWSL team president. She is bringing this expertise to FIFA as the organization’s first Chief Football Officer. As one of the chief architects of the global game, she is the ultimate World Cup insider. In this episode of The Deal, Jill tells Jason and Alex what is worrying and exciting her leading up to the kick off of the 2026 World Cup on June 11th (yes, we talk about ticket prices). She shares some facts and figures around what FIFA is expecting in terms of viewership and revenue. Jill also has her eye toward next summer’s Women’s World Cup in Brazil, telling us about a monumental deal with Netflix and why she is anticipating unprecedented interest in the event. You can also watch this interview on YouTube.See omnystudio.com/listener for privacy information.

May 28, 202624 min

Tracy McGrady Always Wanted to Be an Owner

Hall of Famer Tracy McGrady is considered one of the best shooting guards to ever play the game of basketball. His post-playing career is one of a multifaceted businessperson. T-Mac is one of the lead studio analysts on NBC’s nostalgic return to NBA coverage. And in December 2024, Tracy and his cousin Vince Carter were among 10 limited partners who joined the Buffalo Bills ownership group. Oh, and he started his own league, Ones Basketball. In this episode of The Deal, Alex and Jason sit down with Tracy to walk through his journey from the court to the boardroom. He shares how the Bills deal fulfilled one of his longtime goals and Alex and Tracy compare notes on lessons they’ve learned in the transition from athlete to owner. Tracy also explains how the 90s revolutionized the business of basketball, the joy of doing business alongside his cousin Vince and why he is going all-in on one-on-one.  You can also watch this interview on YouTube.See omnystudio.com/listener for privacy information.

May 21, 202624 min

Jess Pegula on the Business of Tennis

Jess Pegula has spent her life around elite sports — both as one of the best tennis players in the world and as part of the family behind the Buffalo Bills and Buffalo Sabres. Beyond competing at the highest level, she’s become an influential voice in the future of professional tennis through her role as a player representative for the Women’s Tennis Association, giving her a rare window into both the business and competitive sides of the industry. In this episode of The Deal, Alex Rodriguez and Jason Kelly sit down with Jess to talk about lobbying for change in professional tennis, balancing the interests of players and management, and what she’s learned from growing up around major sports franchises. Jess shares lessons from her parents Terry and Kim Pegula on leadership, team building and adapting to different personalities. She also discusses the unique culture of Buffalo sports and how her experiences in tennis and sports ownership have shaped the way she approaches business and competition. You can also watch this interview on YouTube.See omnystudio.com/listener for privacy information.

May 14, 202624 min

Alan Waxman is a Sports Superinvestor

Alan Waxman’s Sixth Street Partners has a deep conviction in sports. Over the past five years, Alan and his firm have taken a minority stake in teams in most major professional leagues, including: the Boston Celtics, the San Antonio Spurs, the San Francisco Giants and FC Barcelona. In 2024, Sixth Street became the first investment fund to take a controlling interest in an American pro team with the NWSL’s Bay FC. And as of September 2025, Sixth Street owns a 3% stake in one of the biggest names in sports- the New England Patriots. In this episode of The Deal, Alex and Jason sit down with Alan live at Bloomberg Invest. Alan tells the story of getting the call from Robert Kraft and why Sixth Street is one of only a handful of PE firms approved to invest in the NFL. He also shares his view on international growth opportunities in the NBA, why a historic NWSL expansion fee paid off and how far away we are from institutional capital taking a controlling stake in an NFL or NBA team. Finally, Alex and Alan give their takes on how to “fix” professional baseball. You can also watch this interview on YouTube.See omnystudio.com/listener for privacy information.

May 7, 202624 min

AJ Andrews on What's Next for Baseball and Softball

Baseball and softball are both having a moment. The 2025 Women’s College World Series was the most watched ever, with 2.4 million people tuning in to game 3. On the baseball side, almost 11 million people watched Venezuela beat the U.S. to take the 2026 World Baseball Classic title. The audience for both sports is growing, and LSU softball star and baseball media analyst AJ Andrews is one of their most enthusiastic ambassadors. In this episode of The Deal, Alex Rodriguez and Jason Kelly talk to AJ about how the MLB must embrace player authenticity in order to flourish. She also shares how a conversation with ESPN’s Jessica Mendoza changed her career trajectory and why the future of softball lies in storytelling. Finally, AJ and Alex compare notes about the benefits of being an athlete turned broadcaster.  See omnystudio.com/listener for privacy information.

April 30, 202623 min

How NFL Legend Steve Young Built a $10 Billion Fund

Steve Young has created a playbook for so many athletes looking to make their way in business and spends a lot of his time paying it forward. HGGC, the private equity firm he started in 2007 with Rich Lawson, currently has an AUM above $10 billion. He also happens to be one of the best quarterbacks to ever play the game of football.  In this episode of The Deal, Alex Rodriguez and Jason Kelly hit the road to talk to Steve Young at his Palo Alto office. Steve shares why making a clean break from football was one of the best decisions he’s made in his career, why he considers himself “highly fireable” and how he built a fund with a spirit of abundance. He also shares some stories about Roger Staubach, Bill Walsh and his dad, Grit Young. You can also watch this interview on YouTube.See omnystudio.com/listener for privacy information.

April 23, 202632 min

The WNBA's Expansion into Cleveland is Powered by Private Equity

Kara Nortman bets big on women’s sports, and it’s paying off. She is the co-owner of Angel City FC, an NWSL team with a $335 million valuation. She is also the managing partner of Monarch Collective, the first investment platform exclusively dedicated to women’s sports. Monarch is now investing a $250 million fund with a stake in three NWSL teams and a European football club. In March, Monarch acquired a minority stake in Cleveland’s WNBA expansion team, becoming the first private equity firm to invest in the league. In this episode of The Deal, Kara breaks down for Alex and Jason how Monarch became the first private equity firm approved to invest in the WNBA and why they chose Cleveland as their team. She also explains why she considers this moment the “third inning” of women’s sports investment and why she is willing to waste time with the right people. Kara also breaks down her belief that the key to derisking women’s sports is putting butts in seats.  You can also watch this interview on the Bloomberg Podcasts YouTube page.See omnystudio.com/listener for privacy information.

April 16, 202633 min

How Kenny Beecham Became the New Face of NBA Media

NBA fans, you’re about to see a whole lot more of Kenny Beecham. The founder of basketball media brand Enjoy Basketball first broke through in 2011 streaming NBA 2k games on Twitch. Since then, he has built a YouTube channel with over 700,000 followers, hosted altcasts on NBA TV and ESPN and interviewed Adam Silver. In October 2025, Kenny and Enjoy signed their biggest deal yet: a partnership with NBC Sports to produce original NBA programming, the network’s first partnership with a creator-led media company. In this episode of The Deal, Kenny tells Jason and Alex why his appeal is based in the fact that he is “just a guy from Chicago.” He also shares how a cold email and getting stranded in a blizzard helped him close the deal with NBC. Kenny also explains how the YouTube “Adpocalypse” helped him build a basketball media juggernaut, how Allen Iverson changed the culture of basketball and why a show about NBA wives and girlfriends is such a hit. You can also watch this interview on the Bloomberg Podcasts YouTube page.See omnystudio.com/listener for privacy information.