CNBC Sport

Broadcasting from Paris during the French Open, Brad Gilbert joins Alex Sherman to unpack the business of tennis through three lenses: playing, coaching, and broadcasting—plus what’s really happening behind the scenes right now at Roland Garros.

Gilbert argues tennis is in a healthy place globally, but remains star-driven—especially in the U.S. market. From there, the conversation moves into the divergent dynamics of the men’s and women’s tours, why combined events matter, and whether tennis should eventually operate as a single unified tour.

 

A major theme is player power: Gilbert revisits the ATP’s modern structure, explains why independent-contractor status makes collective bargaining difficult, and lays out what unions could change—particularly for players ranked outside the top tier who are paying their own travel, coaching, and support-team expenses. The episode also connects those economics to youth development and the pressure on families to “go all in” early, with Gilbert emphasizing balance and education even for elite prospects.

Later, Sherman digs into the coaching marketplace—how coaches get hired, what contracts actually look like in tennis, and why relationships can end quickly in a results-driven environment. Gilbert also reflects on his broadcasting career, including the end of his long ESPN relationship and his current work with Tennis Channel and his podcast.

 

Key topics covered:

The state of tennis today and why it’s still a global, star-driven sport

Men’s vs. women’s tour dynamics and the value of combined events

One tour vs. two: the case for ATP/WTA alignment—and the complications

Why player unions matter, and how prize money debates tie to power and governance

The economic squeeze on players outside the top 100 (and why Slams matter most)

Youth tennis pathways: academy pressure vs. education and long-term development

The business of coaching: week-to-week realities, incentives, and “bigger better deal” moves

Broadcasting career shifts: ESPN contract ending, Tennis Channel, and new media projects

French Open outlook, including conditions, favorites, and how heat can change outcomes

Timestamps:

01:57 Men’s vs. women’s tour health and the impact of combined events

02:55 Should ATP and WTA merge—and what would it take?

03:48 Player protest context, prize money, and why unions change leverage

05:32 Who benefits most from higher payouts (and why rankings matter)

07:04 Youth tennis development, risk, and the case for balance + education

10:32 The business of coaching: how deals form and how coaches get paid

13:32 Why some coaching relationships last—and others end fast

14:29 Broadcasting business: ESPN departure and career transitions

17:15 Tennis Channel work, podcasting, and building audience in new ways

18:10 French Open predictions, heat-wave impacts, and betting-style “field” logic

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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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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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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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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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