CNBC Sport

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

How the Sixers landed LeBron James

LeBron’s impact on Philadelphia fans, ticket demand and sponsorships

Stadium districts and mixed-use sports developments

Rebuilding the Washington Commanders brand

Rising sports franchise valuations and private equity

Youth sports, NIL and future team acquisitions

WTA growth strategy and fan engagement

Equal prize money in women’s tennis

Player workload and the 2027 WTA schedule

Coco Gauff and emerging WTA stars

Sports betting, prediction markets and integrity

WTA maternity benefits

Serena Williams, AI and athlete longevity

The future of the WTA Finals

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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:

The current state and visibility of the WNBA

Keeping the focus on basketball amid wider cultural debates

Geno Auriemma’s coaching philosophy and leadership style

Building accountability and maximizing player potential

How coaching the U.S. Olympic team changed his approach

UConn’s recruiting philosophy in the NIL era

Transfer portal challenges and player development

The UConn women’s basketball dynasty

Pat Summitt and the UConn–Tennessee rivalry

Dawn Staley, South Carolina and modern women’s college basketball

What UConn needed to return to championship form

Geno Auriemma’s thoughts on retirement

 

Timestamps:

01:16 The state of women’s basketball and attention surrounding the WNBA

03:35 What a WNBA commissioner can and cannot control

05:04 Auriemma discusses the transgender-athlete debate in women’s basketball

06:50 How Auriemma began coaching women’s basketball

08:38 Lessons from his years at the University of Virginia

10:03 The demanding coaching style featured in the UConn documentary

13:45 NIL, the transfer portal and maintaining high standards

14:21 What Auriemma looks for in recruits

15:31 Pat Summitt, rivalry and being a man coaching women’s basketball

17:37 What Pat Summitt meant to Auriemma and UConn

19:03 How the rivalry changed after Summitt stopped coaching

20:19 Why UConn went years without another national championship

22:04 Dawn Staley, South Carolina and a new championship rivalry

24:56 Applying Auriemma’s coaching philosophy to leadership and the workplace

27:24 Winning, recruiting and how Auriemma thinks about retirement

28:13 UConn’s recruiting philosophy in the NIL era

30:14 Whether Auriemma is seriously considering retirement

 

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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:

01:53 How padel is played and how it combines elements of tennis and squash

03:06 Why padel is attracting new recreational players

03:52 Global participation and rapid U.S. growth

05:29 How the Pro Padel League’s franchise and tournament structure works

06:08 Player compensation, prize money, and professional salaries

09:08 Why Pro Padel League franchise valuations have risen

10:08 The league’s CNBC and Versant media partnership

12:01 Why audience growth currently matters more than media-rights revenue

13:17 Miami’s role as a major U.S. padel market

13:53 The demographics of padel players

14:49 How padel fits alongside pickleball, tennis, squash, and other racket sports

15:41 PPL Two and the development of North American talent

16:17 Michael Dorfman’s path from insurance and technology to professional sports

18:44 Why investors are increasingly interested in live sports

19:54 The emerging padel equipment, footwear, and apparel market

21:01 The Pro Padel League’s Los Angeles event and CNBC broadcast

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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