This is the Best of the Adam Gold Show Podcast brought to you by Coach Pete at Capital Financial Advisory Group.
Visit us at CapitalFinancialUSA.com. Joining us now from CBS Sports to talk whatever it is we want to talk in the middle of the summer. I can't even really talk NBA Draft and it's tomorrow. Like I should have more in me to talk about that but I don't really. I would have.
If Brian Geisiger or Brendan Witte would have come on here I would have let them. I'm interested in asking questions but I don't have a lot about it. I got nothing for college football on June, what are we, June 24? June 22. I got nothing for college football.
As excited as I am about ECU and C-State kicking off the season, I can't get actually hyped about it until like Wednesday before the game. But we will still talk some fun stuff with Chip Patterson. But Chip, Stevie's been courtside in the game before, right? I think he has been at sporting events and of course he's going to be given the best seating that's absolutely possible because he is Stevie Wonder. I think that I've also reached the point in the Stevie Ain't Blind controversy where I don't care. It's contributions to society, to music, to my own personal life.
I've been like, if it was a fraud, does not matter. Because blind or not blind, fingertips slaps, right? Like blind or not blind, every piece of music along the way. Like the iconic five album run. Like all of it is better than a lot of people who can sing.
So it does not matter to me even if it is a giant conspiracy because the final product was worth it and I'm very happy to go along. Blind or not blind, Stevie Wonder is still the goat in my book. Yes, but I'm not even touching the blind or not blind. I'm taking it as the blind Stevie Wonder, but you guys were cutting up about him going to the Final Four and I'm like, nah, he could be blind and still want to go to the Final Four, right? If you want to be at a game and you truly are blind, then you want to enhance your other senses. You want to be able to hear the game live and in front of you and feel the rhythm of the ball on the court. So I think it makes perfect sense for a blind Stevie Wonder to be courtside watching Michigan State. That's all.
I appreciate the support there. Of course, that was in the wake of the Eric Church move, right? Where I was saying if Eric Church made that move, it wouldn't necessarily make me upset. I had to go to the very, very top in terms of a musical artist where I would have had a ticket to go to that concert and then all of a sudden I couldn't go because they had gone on a selfish endeavor. I would wish in the same way that I don't actually want to give an eye exam to Stevie Wonder because I don't even want to know.
In that same way, Stevie Wonder, you go do whatever you want to do because your contributions to my life and to society as a whole have been strong enough that you can do what you want. Two entities that you and I have enjoyed greatly as sports fans that you cover professionally, the Atlantic Coast Conference and the PGA Tour, have two similar outlooks for the future and that they know they're not disappearing anytime in the next year or two. But because of some economics surrounding their sport, things don't look great or as great for their future as they might have five years ago. For the PGA, they are now competing with a tour with bottomless pockets that doesn't care about making a profit and that have pulled away more guys than I know I expected to, maybe because I underestimated the money and I'm not sure exactly what they expected. And now they're kind of going to have to be begging the majors to keep guys out to make the PGA Tour seem like a compelling thing and I'm not sure they're going to be able to. The ACC, and not just the ACC, but just like it's not just the PGA Tour, I guess that it probably involves the European Tour, they probably don't want to be crowded out by the live either.
The SEC, much like the Pac-12 and the Big Ten to some extent, are watching the SEC suck in two big sports media entities in Oklahoma and Texas, grow even bigger and the payouts are getting, the gap is widening between what the SEC and what everybody else is making. Which entity is more in trouble and may need to make some changes or do something about it faster, the PGA or the Atlantic Coast Conference? PGA Tour and it's not even close.
The efforts that are being made are reactionary, they are slow, they are the panicky flailings that you would see from somebody who has been thrown in a body of water and is not confident in their swimming ability. They are just looking around and they are trying to jack up the purses, I mean that is news that has been coming out today and all of it feels as though they believed that the live golf tour was never going to be able to get its act together. They believe that the live golf tour was nothing more than a threat and now that we are starting to see major champions continue to leave the PGA Tour and just rumors all over the place among PGA Tour players.
They are whispering to each other, oh I heard so and so is going to go, I heard so and so is going to go and that is why it has led to a lot of bad reporting and a lot of rumor mongering. It is just because there is so much uncertainty and so as the PGA Tour is trying to say okay, well this one tournament, it was 8 million, we will now make it 12 million. Oh this other tournament we are now going to do 7.5, that is not going to compare to the 100 million dollar signing bonus that some of these stars are getting. You don't even have to look at what money you can make from the on course earnings where there is zero cut and only 48 competitors and bigger purses than anything that you have on the PGA Tour.
Just agreeing to be a part of it is generating more revenue than or more money for some of these players than they were making on course throughout the entirety of their careers. I think that the thing that, you mentioned the major championships, so Masters winners, Masters exemption for life. I don't think that the Masters is going to tell Dustin Johnson he can't come play in the Masters. I don't think Masters is going to tell Patrick Reed he can't come play in the Masters. The U.S. Open winners have exemptions for 10 years. I think that until 2028, Brooks Koepka is going to be able to compete in every single U.S. Open. I think until 2030, Bryson DeChambeau is going to be able to compete in every single U.S. Open. The majors are not going to keep these guys out. I agree. I think what's interesting, though, is that the official, the world golf ranking points is a way that you can determine a lot of tournament fields, you know, top 50 automatically qualified.
That's often one of the common cuts there. And we don't know yet whether the official world golf rankings are going to award world ranking points to these live golf tournaments. But even if they do, I think there's something to be said for being at a competitive disadvantage for major championship golf when you are not playing competitively as often. And when you do, the tournament format is shotgun start, no cut and only 54 holes. So I think that even if world golf rankings at a fractional value, because there's no way you go point for point when the DP World Tour, which was formerly known as the European tour, when the PGA tour and when all of these other certified tours are all playing 72 hole championship golf with the cut and 150 player fields.
You can't go point for point there. 17th place finish in the live golf tour is not going to be worth the same. But even if fractional points are awarded, allowing some of these world players who will see their ranking plummet to be able to continue to earning points.
I think that they will be at a big time competitive disadvantage, not having played 72 holes, not having run through the routine. U.S. Open winner Matthew Fitzpatrick discussed after winning how important consistency is for his own preparation and his own success and that the same routine that he did for the Canadian Open was the same routine that he was going to do for the U.S. Open, which is the same routine that he's going to do at every tournament for the rest of the schedule and that trying to just parachute in from what I am calling an entertainment product. Like I, I don't want to be put on a list here.
Yeah, I'm just trying to protect me and my family. But this is an entertainment product. And to that point, if we're just talking about an entertainment product, doesn't Bryson make sense as someone who would be attracted to that? Doesn't Brooks Koepcke, somebody who has shown through his own Instagram presence that he's interested in a lot more than golf, seem like he would be attracted to that.
So for right now, it is just the a lot of the names that you might expect. They do have major championships and that is intimidating for the PGA Tour. But the PGA Tour is not just going to be able to haphazardly increase purses and then be able to fix this. The PGA Tour is going to have to really look at itself and figure out what it's able to do for its current members, because among the membership, among the PGA Tour professionals, there's still uncertainty.
And I think a lot of whispering about, hey, I heard so-and-so's going, heard so-and-so's going, oh, well, maybe we will, maybe I will be able to go. So I, I'm PGA Tour definitely over at the ACC. All right, well, for a second, let's at least touch on the ACC.
What, obviously you think they're in less danger than the PGA Tour, and I think you made good points there. What is the exposure right now for, or how much worry is there for non-SEC conferences and maybe the Big Ten's on a slightly different footing? Yeah, Big Ten's on a much different footing. I think that you're, you were saying Big 12. It's ACC, Pac-12, Big 12 are in this lower tier. And then the way the models are set up and who knows about financial models?
I mean, shoot, who knows what the financial world is going to be like in a year? You know, but they are projecting that five to 10 years down the line, the per school payouts are going to be double. That per school, you are going to be making twice as much, and this is in the tens of millions of dollars range, if you're an SEC and Big Ten school, then if you are an ACC, Big 12, and Pac-12 school. The ACC signed this huge deal with ESPN once they got Notre Dame on board and they said, we've stretched this thing out to 2036. If Notre Dame is going to join a conference before 2036, it's going to be the ACC based on this agreement. And at the time, that grant of rights and that agreement, I was among the many experts that were out there saying, well, this has secured the ACC from another wave of conference realignment.
But what it has also done is it has secured a massive financial gap between the ACC and the SEC, which just recently renegotiated its media rights deal and the Big Ten, which will be announcing a new media rights deal in the coming months. So where they stand now is, I mean, what do you do about that? Like, do you worry that, I don't even know how it would fall apart. Would it be a school trying to leave?
I mean, I don't even know how that works, grant of rights wise. But like, if you continue to fall that far behind financially, does it look like something's going to have to change? Or do you just go all in on trying to get Notre Dame to join you?
Basically, the only thing that can significantly increase your revenue in a short time span. So I think I very, very much look forward. We are less than one month away from ACC football kickoff.
And I will very much look forward to the opportunity to be able to do a little bit more digging and have some more conversations to see where the league stands. Because I don't know where the league stands on the 10-year, 15-year vision of what college sports looks like. Because there is the Division One big breakaway, the football only, we are going to go play by different rules. We are not going to put a cap on how many scholarships you can give out.
I'm using these as examples. We're not going to put a cap on how many scholarships you can give out. We're not going to put a cap on how these players can be paid. It has been suggested that maybe even they take on an employee status the same way that a graduate student or work student type situations, where they're going to be able to be compensated, not just through name, image, and likeness, but by the schools themselves. And that's why I think the ACC's question is philosophical. Because there are members of the ACC that I do think would sign up for a new football first future that involves increasing the spending at the university level on college football. I think there are universities in the ACC that would opt not to do that. And where the ACC as a conference decides to land if we start to move towards creating essentially a new subdivision, right? Where the FBS split away from the FCS, aka Division 1A and Division 1AA.
Well, what if there was a league above 1A and it had about 40, 48, I've heard 36, I've heard it be somewhere around 50 or 60. But it was the schools that would decide, yes, we believe that there should be limitless spending on football. We shouldn't cap scholarships. That's a disadvantage to the students. They should be able to make the money that they want to make. And I just think that the opinions in the room at the university president level and at the athletic director level are so divided on where the ACC stands. That's why I say it's more of a philosophical question than a money question. Because if you break away to this new world where you're essentially playing at a championship level with some of these other football first universities, then you're probably signing up for a new college football playoff that probably has a new television deal that probably comes with a little bit of a bigger paycheck. You're not going to be able to catch the SEC or the Big Ten. But when you ask, what are the ways that you can close the gap with those conferences?
Well, it would be by agreeing to sign up for a new world that is going to be very, very expensive, but also a little bit of a prestige play because you'd be sitting at the big boys table and probably getting a little bit more money for it as well. Chip Patterson for CBS Sports and the Pick Six Podcast. On the other side, we'll talk to him about sports betting, which I know they talk a lot about on the Pick Six Podcast.
But also, since it is... I'm sorry, I'm sorry. I always get you and Brinson mixed up. Will Brinson is the Pick Six Podcast, which we also support. The Cover Three Podcast is Chip Patterson's college football podcast.
My apologies, dude. Adam Gold here from My Man, Coach Pete DeRuta with the Capital Financial Advisory Group. We are talking retirement.
All right, Coach, simple. When do we start tax planning in retirement? We should start as soon as possible because here's one thing, Adam, taxes are not going away.
Right. And so the game here is we know the rules. A lot of people want to ignore the rules or act like they are familiar with them, but the IRS knows the rules. And so when we get to retirement, they're going to reach in and start taking some of their money out of your accounts. So the secret here is to put a force field around as much as possible by strategically moving some of our money to Roth IRA or some of the other vehicles that aren't taxed, like special life insurance policies.
You can borrow against your money there and never have to pay tax on your money that you build up inside your cash value. So there are a lot of strategies here. The one strategy that does not work is ignoring it. So let's make sure to not ignore it. The next 10 people will do for you your very own tax and retirement plan that will help you minimize taxation all the way through retirement. 800-661-7383.
All you got is call or you can text Adam to 21000 for Coach Pete DeRuta. I've got a take on sports gambling and tell me what you think about it. I'm not opposed to, I'm not worried about sports gambling or betting being more a part of the sports we watch in the sense of I'm worried about games being fixed. I don't like that.
I think that's bad. I think the people who do that should be in trouble and prosecuted and all that things. But frankly, sports fixing scandals are like kind of cool and somebody will get to cover it and we'll talk about it.
I said this on Monday's show, I don't condone cheating that's immoral and I don't think we should do it. And I think the Houston Astros when they cheated should be punished and booed and mocked and cheered against and funny signs made to them and whatever, full punishment. But as an observer of these sports that are put on the entertainment, I'm like, it's kind of cool they try to get away with that, huh?
Like they tried to bang on track, like let's go. I like scandals, right? And I'd rather have sports scandals than like, you know, somebody stealing money from a fund that's supposed to help poor people and instead made a billionaire richer.
Like, you know, like those are those scandals hurt a little bit more, right? So I'm fine with a sports fixing scandal. However, I believe that we should have the right to bet. I believe that I will bet and I enjoy it and want to, but there's part of me that thinks sports will be a little bit worse overall because of gambling being involved in them. Is that a crazy or is that a hypocritical take or am I crazy for saying it that way?
I don't see it that way, but I'm also speaking from the position. CBS Sports has another website and service called Sportsline. You pay a subscription and you're able to get access to analysis, to picks, to there's a lot of free content that we offer as well. I take part in their weekly college football show in the fall. I did a lot of daily college basketball picks in this past spring.
And in that, you know, in that world, I've kind of been more along the lines of the, was it 35, 34, 35 states where it is. And a lot of my position when I'm jumping on these shows is to try and bring the sports out of this. I'm often on there with like one former computer scientist who has a model that gives you all the percentages and he's able to tell you about the edges that he has in certain games. And then I'm on there with a former player or somebody else who's got their own experience angle. And I'm in there to able to contribute the stories, able to contribute the information, able to contribute the analysis. That isn't necessarily just hard numbers that might give you a reason to be confident or less confident in whatever pick that I'm sharing with you.
And so in that experience with Sportsline, I'm sorry, I don't have a promo code to give you right now. But, you know, in that experience, I've been able to see how you can be even an exclusively sports gambling property and still tell the full picture of sports. And that fans who want to show up and watch these shows and listen to these podcasts that they do appreciate. And I've seen from the own reception from it that they appreciate still being able to take in the analysis and the information and enjoy being able to get a little bit of everything.
So, yes, there will probably be a little bit of a backlash when you are introduced to the the models and the you know, the deep like super inside sicko alternate line type things. But even when we talk about sports, there's just no way that you're going to be able to only get it down to talking about it like these are truly like stocks. I think that you're always going to remember that sports are being are human beings that are competing and there's a lot that goes into play inside. Just I have seen a future that North Carolina, I believe, will get to experience where sports gambling is a part of your sports entertainment consumption.
But yet you are not going to lose a lot of the same reasons why you love it. All right. So and now I'm trying to ask you, I don't know if I'm not saying that I don't believe you before I even ask you the question.
And I know that I don't think I'm tripping you up in any business wise stuff here. But like but if gambling didn't exist or even frankly, by the time you got into sports, I feel like there was at least acknowledgment that it happened. Right. There used to be almost this like. We were on the like we were on the we don't talk about it in working at CBS Sports since 2010.
And in that time, we have gone from listen, we're not going to talk about it to OK, you can do it in one show a week. To it from a business standpoint, I don't think I'm giving away any company secrets here, but look at our corporate sponsorship with Caesars, look at the sports line property, watch the way that we talk about gambling on CBS Sports HQ or on the cover three podcast or elsewhere. Like we are clearly targeting that as an opportunity to be able to serve the invested sports fan and the invested sports fan is a fantasy owner. It's somebody who invests their emotions in their favorite team and it's somebody who invests their dollars in trying to be able to have a little bit of fun wagering on sports.
So I have seen that evolution. Yeah. Over the last 12 years, it started and it was something you do not talk about. And now it is very much driving a lot of the content decisions where you, you just you build out your calendar, and you put in like, this is the week we are running win totals on CBS Sports dot com. Right now is win totals week. We're going to our five conference, and we were making win totals picks for every single power five team. I'm working on the ACC right now.
It's going to run tomorrow, but you can go see big 10 SEC and I think big 12 went Monday, Tuesday, Wednesday on CBS Sports calm. You just, it is just the way that you were able to fill out the calendar and turn a sport that only has 12 games in a year into a sport that you talk about 12 months a year by being able to really lean in and tap on this. This other angle to covering the sport. June 19 2006, but it all started May 6 1997 with the announcement that the Hartford Whalers were coming to North Carolina. It's a story of transition of heartbreak of figuring it out on the fly. The canes corner look at the 25th anniversary of the move, presented by the aluminum company of North Carolina.
Listen now, find James 25th anniversary, wherever you get your podcast. Alright, so here's my question for you. Do you do you truly enjoy writing stories about over under win totals, as opposed to whatever story you would have been writing if you couldn't write about what like I don't know what it would have been just regular news, I guess, like is it do you do you enjoy that more and I'm not trying to say you would have wouldn't it's I like it because it's given me a reference point for expectations. It used to be that you could go through and all the cliches about like, well, we're, you know, he's as healthy as he's been in his career.
We're going to be like smart, fast and physical. Well, what are expectations, you know, I like it because a point spread actually this is a good I think that you're trying to get at this. I think point spreads win totals. I think that these numbers that are set by odds makers in Vegas, yes, they are set to try to get money on both sides. But they also if they want to get money on both sides are a decent representation of expectations and the way that goalposts are able to be moved by fans the way that goalposts are able to be moved by coaches.
I like having that truly objective. No, this is what we the odds makers or the market once the line starts to move a little bit. This is what we think is the expectation. This team is this many points better than this. This team looking at this schedule is expected to win this many games and being able to have a hard data point as expectation keeps you from writing fluffy nice stuff all the time. So actually have to be really honest to make tough decisions instead of saying NC State basketball had a bad year last year. You could say no absolutely. They were the worst team at covering the spread in basketball.
They measured up the worst against expectations of anyone. Now, I hear you point in that in that sense and the numbers. The other thing is and I think you'll kind of hear me on this is and it's kind of true of like, I don't know in a way. I feel like the same way about weed.
We're like it's becoming so legal that like people that wouldn't when you had to like work to seek it out. Then it was almost like a subset of people that actually cared about it. And so you cared about talking with those people right gambling feels like the same way when everybody's doing it like average dudes are doing it who don't really care and they're not whereas before and I'm not even a huge gambler. I'm not trying to put myself in that club. I remember sort of seeing that club from afar and like knowing my friends three dads that actually gambled and like got the gold sheet or whatever and being kind of mystified of it right, but like it would have watered down the conversation of like, oh, well, my dad doesn't really care about gambling.
He's gonna go ahead and fill it out. Anyway, just because you can punch it in on the app. Whereas like, you know, like gamblers used to be kind of a cool club and they talked about gambling stuff and it was, you know, there and again, I'm not saying I don't want more people in my club. I'm just saying it ruins it.
If there's no club anymore at all. It's just everybody does it. Is it is that fair?
Is that you come in? Because I think that we have one on one relationships with all these individuals. I do agree that like it was nobody cares about your fantasy team.
Yeah, that stuff. Nobody cares about your bets. I don't want to hear like how like good or bad your Saturday went like that. I do think that that's where it becomes the individual and the sport itself the individual and the cover three podcast the individual and the sports line day early edge Daily Show where you know, you end up finding the places that you like to discuss interact listen and hey, look, it might be on the Adam Gold Show it on the Adam Gold Show. There's already a segment where you're able to yeah, it's coming up in about 15 minutes. We're placing our best 15 minutes or is going to get to spend Adam Gold's money being able to make some pics and give analysis and then that's where the in the future the sports gambler in North Carolina is just going to be able to know that they can listen to the segment on the Adam Gold Show.
I mean you've mentioned it like long ago. I remember when like Colin Coward had a guy named RJ Bell on his daytime radio show and every Friday give is like blazing five sure those pics would then get analysis from RJ Bell just like 2010 2011 definitely before we were making picks against the spread on CBS Sports.com, you know Bill Simmons and cousin Sal would like guess the lines and if you are interacting with that podcast if you were listening to that radio show then it was just you in the provider of the entertainment and I think that that's kind of where we're at where you know, you're you are definitely looking at a yesteryear where it was like gambling circles and gambling clubs and I think that as it does become watered down. That's where it's a benefit for me and that's where it's a benefit for the Adam Gold Show and all these other providers of the content is that you end up being the place, you know, not their own little circle but you end up being the place that they come to talk about this stuff. It'll be interesting and it is partly also the I mean we had this a couple years ago. We're like, yeah, no anybody working in sports is going to be great with if gambling places are filling the advertising, you know market and paying the advertising dollars then like bring it on.
It's great. Right, but but then it for a while when that first hit it felt like every ad of every sporting event you watch was DraftKings, right? And I know that's like a petty thing to complain about but but it's it's it's just that it's just the it becoming the the whole conversation of sports in a way. I just think makes it a less.
I don't know not not exactly to my personal settings, which is of course all that I care about it. Just it's a slightly out of whack the way that now it's going to be totally a wash and gamble so in gambling. So anyway, Chip, we appreciate the time. I know you'll be talking more football with Adam Gold as the summer draws. We're I mean summer is basically over right yesterday was the longest day of the year. Now the days are getting shorter feels like I mean back to school sales are already up, you know summers over in a week. So we'll have football here soon enough.
Appreciate the time and we'll talk to you soon, dude. June 19th, 2006, but it all started May 6, 1997 with the announcement that the Hartford Whalers were coming to North Carolina. It's a story of transition of heartbreak of figuring it out on the fly the Canes Corner. Look at the 25th anniversary of the move presented by the Aluminum Company of North Carolina. Listen now find Canes 25th anniversary wherever you get your podcast.
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