>>> FUNDING FOR "NJ BUSINESS BEAT" PROVIDED BY NJCU SCHOOL OF BUSINESS.

A GAME-CHANGING FORCE OFFERING PROGRAMS LIKE FINANCIAL TECHNOLOGY, OR BUSINESS ANALYTICS AND DATA SCIENCE.

WE'RE STEPS FROM THE EXCHANGE PLACE PATH TRAIN IN JERSEY CITY, AND MINUTES FROM WALL STREET.

LEARN MORE AT NJCU.EDU SLASH GAME CHANGER.

>> THIS WEEK.

BILLIONS FOR OUR ROADS, BRIDGES AND MORE.

HOW NEW JERSEY'S INFRASTRUCTURE WILL IMPROVE WITH THE PASSAGE OF THE PRESIDENT'S TRILLION DOLLAR BILL.

AND CLIMATE CHANGE IN ACTION.

HOW NEW JERSEY IS REPRESENTED AT THE MASSIVE CLIMATE CONFERENCE OVERSEAS.

AND WE'RE PUTTING THE BUSINESS OF SPORTS IN FOCUS, INCLUDING HOW NEW JERSEY SPORTS TEAMS WORK BEHIND THE SCENES, NEW FINANCIAL OPPORTUNITIES FOR COLLEGE ATHLETES, AND THE BIG RECORD BREAKING BOON FOR SPORTS BETTING.

STRAIGHT AHEAD ON "NJ BUSINESS BEAT."

♪ >>> THIS IS "NJ BUSINESS BEAT" WITH RHONDA SCHAFFLER.

>> HELLO I'M RHONDA SCHAFFLER.

THANKS FOR JOINING US ON "NJ BUSINESS BEAT."

IF YOU ARE WATCHING ON YOUTUBE, MAKE SURE YOU SUBSCRIBE TO OUR NJ SPOTLIGHT NEWS YOUTUBE CHANNEL TO GET ALERTED WHEN WE POST NEW EPISODES AND CLIPS.

CRUMBLING BRIDGE, BANGED UP ROADS AND A MASS TRANSIT SYSTEM IN NEED OF SOME UPGRADES.

THIS IS TRANSPORTATION IN NEW JERSEY.

BUT NOW THERE'S A LOT OF MONEY COMING OUR WAY TO FIX THOSE THINGS.

THE STATE WILL RECEIVE MORE THAN $12 BILLION NOW THAT CONGRESS HAS PASSED A ONE TRILLION INFRASTRUCTURE BILL.

PRESIDENT BIDEN WILL SIGN THE BILL ON NOVEMBER 15th IT.

ALSO INCLUDES BILLIONS OF DOLLARS IN FUNDING FOR THE LONG AWAITED HUDSON RIVER TUNNEL PROJECT WHICH IS PART OF THE GATEWAY PROGRAM.

THE NEW JERSEY CHAMBER OF COMMERCE SAID THE INVESTMENT WILL CREATE THOUSANDS OF GOOD PAYING JOBS AND CALLED INFRASTRUCTURE THE FOUNDATION OF NEW JERSEY'S ECONOMY.

ADVOCATES AND GOVERNOR MURPHY ARE EAGER TO GET THOSE PROJECTS STARTED.

>> IT WAS AN UNPRECEDENTED INVESTMENT IN AMTRAK'S NORTHEAST CORRIDOR THAT WAS INCLUDED IN THE INFRASTRUCTURE BILL.

SO WE SHOULD SEE IMPROVEMENTS FROM TRENTON UP TO NEW YORK CITY.

AND MUCH SMOOTHER RIDES OVER AMTRAK PROPERTY.

INCLUDING ALL THE ELEMENTS OF THE GATEWAY PROGRAM AND THE HUDSON TUNNEL PROJECT.

>> ON TOP OF MONEY FROM THE INFRASTRUCTURE BILL, NJ TRANSIT IS ALSO GETTING NEARLY $2.7 BILLION IN FEDERAL PANDEMIC RELIEF FUNDS.

AFTER THE GOVERNORS OF NEW JERSEY, NEW YORK AND CONNECTICUT REACHED AN AGREEMENT ON HOW TO DIVIDE UP $14 BILLION IN COVID-19 TRANSIT AID FOLLOWING MONTHS OF NEGOTIATIONS.

NJ TRANSIT WAS EXPECTING TO GET AN ESTIMATED 3.6 BILLION.

THE FEDERAL MONEY WILL ALLOW THE TRANSIT AGENCIES TO COVER REVENUE LOSSES THAT OCCURRED FROM RIDERSHIP DECLINES.

BUSINESS LEADERS JOINED GOVERNMENT OFFICIALS AND ADVOCATE THIS IS PAST WEEK AT THE U.N.

CLIMATE SUMMIT KNOWN AS COP26.

THE GOAL OF THE SUMMIT?

REDUCE GLOBAL WARMING BY CUTTING CARBON EMISSIONS.

ONE NEW JERSEY EXECUTIVE WAS PART OF THE CONVERSATION.

RALPH IZZO, THE CEO OF PUBLIC SERVICE ENTERPRISE GROUP, A FUNDER OF NJ PBS.

ONE OF A HANDFUL OF NJ CEOS ATTENDING THE CONFERENCE IN GLASGOW SCOTLAND.

HOW DOES SOMEONE LIKE YOURSELF FIND HIS WAY TO COP26?

WHAT MADE YOU WANT TO ATTEND THE CONFERENCE?

>> OUR INDUSTRY IS PROMINENT IN CLIMATE CHANGE RELATED ISSUES FOR DECADES.

THE ELECTRIC POWER WAS THE NUMBER ONE EMITTER OF CARBON IN THE UNITED STATES.

IT IS NOW NUMBER TWO BEHIND TRANSPORTATION.

AND NEW JERSEY BEING AS ACTIVE AS WE ARE ON ENVIRONMENTAL ISSUES OUR COMPANIES PLAYED A PROMINENT ROLE AMONG INDUSTRY MEMBERS TO DETERMINE WHAT TO DO TO HAVE LESS ENVIRONMENTAL IMPACT AS WE PROVIDE THIS ESSENTIAL SERVICE TO PEOPLE.

MY COLLEAGUES ASKED IF I WAS INTERESTED IN COMING TO COP26, AS IT WAS GOING TO BE THE 50-YEAR REFRESH OF THE PARIS ACCORD.

SO I WAS HAPPY TO COME AND DO THAT.

>> YOU HAVE ACTUALLY PARTICIPATED IN SEVERAL PANELS WHAT.

YOU LEARNED THAT YOU CAN BRING BACK TO NEW JERSEY?

>> IN THE PAST COP WAS ABOUT GOVERNMENT NEGOTIATIONS.

THERE ARE 50,000 PEOPLE BY SOME ESTIMATES.

ONLY A THOUSAND OF THEM ARE INVOLVED IN NEGOTIATIONS.

THE IMPLICATIONS OF THAT ARE THAT BUSINESSES AND NOT FOR FRONT ORGANIZATIONS AND OTHER INTERESTED CITIZENS AREN'T WAITING FOR GOVERNMENT.

THIS PLANET IS IN TROUBLE.

THE DIRECTION WE NEED TO GO IN IS CLEAR.

THE PACE VARIES DEPENDING UPON WHERE YOU ARE FROM BUT THERE IS NO QUESTION AS TO THE DIRECTION.

AND BUSINESSES LIKES PSEG WHO SAID WE'RE GOING TO GET TO NET ZERO BY 230 WITH TAKING MATTERS INTO THEIR OWN HANDS.

HAVING SAID THAT THE ROLE OF GOVERNMENT IS ESSENTIAL IN FACILITATING THE ACCELERATED MOVEMENT IN THE RIGHT DIRECTION.

>> HERE IN NEW JERSEY, CAN THE GOAL OF REACHING NET ZERO BY 2030 BE ACHIEVED, DO YOU THINK?

AND WHAT DOES PSEG HAVE TO DO TO GET THERE AT THIS POINT.

>> GETTING TO NET ZERO MEANS WE'LL HAVE TO REPAIR SOME OF O OUR GAS PIPES THAT LEAK METHANE, WHICH WE ARE WELL UNDER WAY DOING.

AND WE HAVE TO REDUCE EMISSIONS FROM POWER PLANTS AND WE'VE CLOSED ALL OF OUR COAL PLANTS.

A FEW YEARS AGO WE CLOSED OUR MOST INEFFICIENT GAS PLANTS AND WE RECENTLY SOLD OUR GAS PLANTS.

NOW THAT'S -- THAT'S A LITTLE BIT OF AN UNFAIR CHARACTERIZATION BECAUSE THAT WILL MAKE US LOOK BETTER.

BUT THAT WON'T REALLY EFFECT THE PLANET BECAUSE THOSE PLANTS WILL CONTINUE TO OPERATE.

THE ONE THING WE WON'T BE ABLE TO EFFECT IS THE FACT THAT EVERY POWER LINE HAS A CERTAIN AMOUNT OF LOSS.

LAW OF PHYSICS, I WON'T BORE YOU WITH THE DETAILS.

SO AS LONG AS THE GRID IS SUPPLIED BY FOSSIL FUELS, THOSE LOSSES WILL BE EMISSION PROBLEMS, SO TO SPEAK.

AND WHAT WE'LL NEED TO DO TO OFFSET THOSE IS BUY EMISSION CREDITS FROM OTHER ORGANIZATIONS.

WE'RE GONNA HAVE TO REALLY EMPHASIZE THE USE OF ENERGY EFFICIENCY TO KEEP TO A MINIMUM HOW MUCH NATURAL GAS PEOPLE USE IN HOME HEATING, IN THEIR INDUSTRIAL PROCESSES.

>> AND FINALLY, WHAT ROLE THE WIND ENERGY INDUSTRY OFF THE COAST OF NEW JERSEY IS GOING TO PLAY.

I KNOW THAT IS SOMETHING YOU ARE ALSO INVOLVED IN IN TERMS OF THINKING ABOUT GETTING THE POWER THAT'S GENERATED OFF SHORE TO HOMES IN NEW JERSEY.

>> SO NEW JERSEY, AS WELL AS OTHER MID ATLANTIC AND NEW ENGLAND STATES ARE REALLY WISE TO BEGIN THE INVESTMENTS IN OFF SHORE WIND SO WE CAN BRING DOWN THE COST OF OFF SHORE WIND BY DEVELOPING A SUPPLY CHAIN.

AND THE SUPPLY CHAIN ARE THINGS LIKE THE PORT WIND FACILITY THAT WE'RE BUILDING IN SALEM COUNTY.

THINGS OF THAT NATURE WILL HELP MAKE THE SECOND AND THIRD PROJECTS IN OFF SHORE WIND THAT MUCH LESS EXPENSIVE.

>> RALPH, IT'S BEEN A PLEASURE SPEAKING WITH YOU FROM THE CONFERENCE.

THANK YOU SO MUCH.

>> GREAT TO SEE YOU RHONDA.

LOOKING FORWARD TO SEEING YOU AGAIN IN THE FUTURE.

TAKE CARE.

>>> THIS WEEK THE NATION PAUSED TO HONOR OUR MILITARY VETERANS AND THEIR SERVICE TO OUR COUNTRY.

FOR MANY, LIFE AFTER THEY LEAVE THE MILITARY INCLUDES TRYING TO NAVIGATE YOUR WAY THROUGH THE BUSINESS WORLD.

NEW JERSEY HAS HUNDREDS OF BUSINESSES OWNED BY VETERANS.

AND THEY FACE UNIQUE CHALLENGES.

I SPOKE WITH COLONEL JEFF CAN TORECANTORE ABOUT THE KIND OF SUPPORT VETERAN-OWNED BUSINESSES NEED RIGHT NOW.

I COULD YOU DESCRIBE THE STATE OF VETERAN-OWNED BUSINESSES IN NEW JERSEY RIGHT NOW POSTCOVID AND AS WE'RE STILL TRYING TO WORK OUR WAY INTO A HEALTHIER ECONOMY?

>> SO SO MANY VETERAN BUSINESS, AND WHEN I SAY VETERAN BUSINESS, VERN BUSINESS, DISABLED VETERAN BUSINESS, MILITARY SPOUSE-OWNED BUSINESSES HAVE REALLY JUST HAD A LOT OF DIFFICULTY IN NAVIGATING THROUGH THE COVID PANDEMIC.

SOME OF WHOM HAVE SHUT THEIR DOORS UNFORTUNATELY.

BECAUSE THE PANDEMIC.

AND MANY OF WHOM ARE STRUGGLING BECAUSE THEY CAN'T GET STATE CONTRACTS, EVEN THOUGH THERE IS A 3% SET ASIDE IN THE STATE OF NEW JERSEY, THAT IS PUBLIC LAW, IN THE STATE CURRENTLY IS NOT REALLY ENFORCING IT THAT WELL.

>> WELL THAT CERTAINLY DOESN'T SOUND PROPER.

WHAT CAN BE DONE ABOUT THAT?

>> SO WE'VE HAD NUMEROUS CONVERSATIONS WITH THE OFFICE OF DIVERSITY AND INCLUSION.

WE'VE HAD DISCUSSIONS WITH THE GOVERNORS OFFICE.

WE RECENTLY ROLLED OUT A TRAINING PROGRAM TO ALL 72 STATE AGENCIES WITH PROCUREMENT POWER TO TRY TO EDUCATE THEM ON WHAT THIS LAW IS.

AND ESSENTIALLY WHAT IT SAYS IS 3% OF ALL STATE CONTRACTS ARE TO BE SET ASIDE FOR DISABLED VETERAN-OWNED BUSINESSES.

AND UNFORTUNATELY, LIKE, I CAN'T EVEN BEGIN TO TELL YOU.

MAYBE THE STATE IS ABOUT A $2 BILLION SPEND WITH DISABLED VETERAN OWN BUSINESSES WHEN THEY SHOULD BE ABOUT --.

>> THERE HAS BEEN SOME EFFORTS OVER THIS WHOLE PERIOD WHEN COVID HIT TO SET ASIDE SOME GRANT MONEY SPECIFICALLY FOR VETERAN-OWNED BUSINESSES.

HAVE THOSE PROGRAMS BEEN ABLE TO HELP?

>> SOME OF THEM HAVE.

AND I WILL SAY NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY HAS BEEN ABSOLUTELY FANTASTIC IN HELPING THE VETERANS COMMUNITY IN GETTING ACCESS TO SOME OF THESE GRANTS AND LOANS.

THE EIBL LOAN, THE C.A.R.E.S.

ACT FUNDING, WHICH THEY WERE A LIFELINE TO MANY, MANY ORGANIZATIONS AND MANY BUSINESSES THAT WERE SUFFERING SO BADLY DURING THE PANDEMIC.

>> HOW ARE THE NEEDS OF VETERAN-OWNED BUSINESS OWNERS DIFFERENT FROM OTHER BUSINESS OWNERS.

>> VETERAN BUSINESSES HAVE A MUCH HARDER TIME GAINING ACCESS TO CAPITAL.

AND THE FEDERAL RESERVE BANK ACTUALLY PUBLISHED A STUDY IN 2018 TO SHOW THAT VETERAN BUSINESSES JUST DON'T HAVE THE ACCESS TO CAPITAL THAT NON VETERAN COUNTERPARTS DO.

AND IF YOU THINK ABOUT IT.

WHEN VETERANS WERE OUT SERVING, WHEN THEY WERE DEPLOYED TO IRAQ AND AFGHANISTAN AND ALL THESE PLACE, THEY WERE THERE SERVING THE COUNTRY.

WHEN NOT VETERANS WERE HERE BUILDING THEIR BUSINESS AND HELPING TO BUILD NETWORKS AND 6 JUST MEET PEOPLE TO HELP THEM GROW THEIR BUSINESS.

>> DESPITE SOME OF O THESE OBSTACLES WE'VE TALKED ABOUT.

DO YOU STILL SEE A LOT OF INTEREST AMONG THOSE WHO'VE SERVED THE COUNTRY IN TERMS OF SETTING UP THEIR OWN BUSINESS?

>> A STUDY WAS DONE THAT SHOWED THAT THE AMOUNT OF VETERANS THAT ARE STARTING THEIR OWN BUSINESSES HAS DECLINED RAPIDLY, SINCE WORLD WAR II.

IT IS ONLY ABOUT 4% OF VETERANS THAT START THEIR OWN BUSINESS.

MY THINKING IS THAT THAT IS GOING TO INCREASE BECAUSE THERE ARE FEWER AND FEWER JOBS COMING ABOUT DUE TO TECHNOLOGY.

AND SO THERE IS GOING TO BE A NEED FOR MORE VETERANS TO START THEIR OWN BUSINESS OR MAYBE GO INTO A FRANCHISE.

THE GOVERNOR AND THE LEGISLATOR -- LEGISLATURE HERE IN NEW JERSEY REALLY NEED TO THINK THROUGH HOW TO BEST SUPPORT THE VETERANS BUSINESS COMMUNITY.

I KNOW THIS IS VETERAN'S DAY AND IT IS, YOU KNOW, ONE OF THE TIMES THAT PEOPLE THINK ABOUT VETERANS.

BUT WE NEED TO BE ABLE TO COMPETE IN THE OPEN BID PROCESS.

WE NEED THE HELP TO GAIN THE ACCESS TO CAPITAL.

WE NEED THE HELP IN GAINING ACCESS TO MARKETS AND NETWORKS.

AND YOU KNOW, WE DON'T NORMALLY HAVE THAT.

>> THANK YOU SO MUCH FOR GIVING US THE STATE OF WHAT IS GOING ON WITH VETERAN-OWNED BUSINESSES IN NEW JERSEY.

AND OF COURSE THANK YOU AS WELL FOR YOUR SERVICE.

>> THANK YOU SO MUCH.

PLEASURE.

>> WITH THE WEEKEND HERE, NEW JERSEY SPORTS FANS ARE GEARING UP TO WATCH THEIR FAVORITE TEAMS.

BETWEEN THE NFL, NBA AND COLLEGE SPORTS, THERE IS ALWAYS SOMETHING TO WATCH.

AND YOUR FAVORITE TEAMS ARE WORTH A LOT OF MONEY.

WE DECIDED TO LOOK AT THE DOLLARS AND SENSE BEHIND THE BUSINESS OF SPORTS WHICH WE'RE PUTTING IN FOCUS THIS WEEK.

EACH YEAR FORBES PUTS TOGETHER A REPORT ON THE AVERAGE VALUE OF NFL FRANCHISES.

NEW JERSEY'S TEAMS, YEP, I SAID NEW JERSEY.

THEY DO PLAY AT MET LIFE STADIUM AFTER ALL.

THE GIANTS AND THE JETS HAVE A VALUATION THAT TOPS $4 BILLION.

OTHER JERSEY TEAMS ARE WORTH A LOT OF MONEY TOO.

LIKE THE DEVILS WERE 530 MILLION DOLLARS.

AND THE RED BULLS SOCIOLOGY TEAM WHICH RECENTLY DECIDED TO BUILD A NEW TRAINING CENTER HERE IN NEW JERSEY IS VALUED AT 505 MILLION DOLLARS.

SPORTS FANS ARE BACK TO ATTENDING GAMES IN PERSON FOLLOWING COVID RESTRICTIONS, AND TEAMS ARE HOPEFUL THAT IS GOING TO BE GOOD FOR THE BOTTOM LINE.

ONE NEW JERSEY SPORTS TEAM WEATHERED THE PANDEMIC AND CONTINUES TO SEE MORE AND MORE FANS RETURNING.

THE BLUE CLAWS MINOR LEAGUE BASEBALL TEAM IS ALREADY GEARING UP FOR THE SPRING SEASON.

WE SPOKE WITH THE TEAM'S PRESIDENT AND GENERAL MANAGER.

ITS BEEN AN INTERESTING TIME FOR THE BLUE CLAWS.

YOU GOT A NEW NAME IN RECENT YEARS AND YOU MANAGE TO CONTINUE TO THRIVE EVEN THOUGH WE'VE HAD A TOUGH PERIOD MERE IN NEW JERSEY.

>> YEAH.

BLUE CLAWS ARE SMALL BUSINESS LIKE SOME OF THE OTHER SMALL BUSINESSES IN THE STATE.

AND ITS BEEN TREMENDOUSLY CHALLENGING.

BUT WE DID TRY.

A GOOD SEASON AND IT WAS NOT WITHOUT ITS CHALLENGES BUT IT WAS ACTUALLY QUITE A GOOD SEASON.

I WAS REALLY, REALLY PROUD OF THE EFFORTS THAT OUR TEAM GAVE AND JUST TRYING TO GET OUR GATES OPEN AND WELCOME EVERYBODY SAFELY BACK TO THE BACKLLPARK.

>> WHAT IS IT ABOUT MIERNL BALL DO YOU THINK REALLY CAPTURES THE ATTENTION OF PEOPLE IN NEW JERSEY?

>> MINOR LEAGUE IS ONE OF THOSE LAST BASTIONS OF ENTERTAINMENT THAT REALLY DOES CUT ACROSS MULTI GENERATIONS>> MINOR LEAGU LAST BASTIONS OF ENTERTAINMENT THAT REALLY DOES CUT ACROSS MULTI GENERATIONS.

WE'LL SEE FANS HERE WITH KIDS WITH GRANDPARENTS AND THEIR PARENTS, AND IT IS RARE WHEN YOU CAN GO OUT AND ENJOY POPULAR ENTERTAINMENT AND REALLY NOT HAVE TO WORRY ABOUT ANYTHING OBJECTIONABLE COMING OUT OVER THE P.A.

SYSTEM OR ANYTHING THAT, YOU KNOW, WOULDN'T BE APPROPRIATE FOR YOUNG KIDS.

SO IT IS VERY VERY TRADITIONAL AND KIND OF SQUEAKY CLEAN FAMILY ENTERTAINMENT.

AND THERE IS JUST SOMETHING FOR EVERYBODY.

AND FOR EVERY GENERATION HERE.

>> TELL ME WHAT GOES ON BEHIND THE SCENES.

WHAT ARE SOME OF YOUR CHALLENGES AS PRESIDENT OF THE ORGANIZATION THAT YOU HAVE TO DEAL WITH ON A DAY-TO-DAY BASIS.

>> CHALLENGES THAT GO ALONG WITH WELCOMING 400-PLUS THOUSAND PEOPLE TO OUR VENUE.

MAKING SURE THAT IT IS CLEAN.

MAKING SURE THAT IT IS FUNCTIONAL AND OPERATIONAL.

MAKING SURE THAT STAFF IS TRAINED.

MAKING SURE THAT THE ENTERTAINMENT IS GOOD.

FIREWORKS ARE GOOD.

YOU KNOW ALL THE WORK THAT GOES INTO PROVIDING THOSE THREE HOURS OF WORTH OF REPRIEVE.

IT IS A YEARS WORTH OF WORK.

AND THAT LITERALLY BEGINS BEFORE THE PRIOR SEASON EVEN ENDS.

>> ARE YOU REBOUNDING FROM THAT TOUGH SEASON WHERE YOU COULD NOT OPEN THE DOORS?

>> YEAH.

2021 WAS DEFINITELY A REBOUND.

IT WAS FAR AND AWAY BETTER THAN WE ANTICIPATED IT WAS GOING TO BE.

IT WAS WONDERFUL TO SEE FANS, PARTICULARLY THROUGHOUT THE MIDPOINT OF THE SEASON HAVE A COMFORT LEVEL GETTING TOGETHER IN MASS AGAIN.

THAT WAS GREAT.

WE WERE A LITTLE BIT WORRIED AS TO WHETHER OR NOT THERE WERE STILL SOME -- YOU KNOW, SOME LEFTOVER SENSITIVITIES ABOUT BEING IN LARGER CROWDS.

AND WE WERE GLAD TO SEE AS WE GOT INTO THE SEASON, THAT, YOU KNOW, THREE, FOUR, FIVE THOUSAND PERSON CROWDS WERE BACK.

YOU KNOW, EVEN AS GOOD AS THAT WAS COMPARED TO EXPECTATIONS, IT WAS A FRACTION OF WHAT WE WOULD NORMALLY SEE IN THE SEASON.

2022 LOOKS TREMENDOUSLY PROMISING.

WE'RE SEEING A LOT OF OUR GROUPS COMING BACK.

YOU KNOW, SOME SCHOOLS AND CAMPS AND THE TRADITIONAL BUSINESS GROUPS AND FOLKS THAT HELP A GOOD PORTION OF THE AUDIENCE.

WE'RE NOT COMING OUT IN LARGE PART IN 2021.

SO IT IS NICE TO SEE THAT THEY HAVE, YOU KNOW, KIND OF GOTTEN BACK TO NORMAL AGAIN IN 2022 AND WE'LL BE ABLE TO WELCOME ALL OF THEM BACK.

>> GOOD LUCK IN THE NEXT SEASON.

IS BEEN GREAT TALKING TO YOU.

THANK YOU.

>> THANK YOU AND IF YOU HAVE A CHANCE TO COME OUT AND VISIT US.

>> THIS HAS BEEN A LUCRATIVE FALL FOR SOME STUDENT ATHLETES.

EARLIER THIS YEAR, THE NCAA ADOPTED AN INTERIM NAME, IMAGE AND LIKENESS POLICY.

A POLICY THAT ALLOWS STUDENT ATHLETES TO MAKE MONEY THROUGH ENDORSEMENTS AND SPONSORSHIPS.

ALL OF THIS HAPPENED TOO LATE FOR ONE FORMER NEW JERSEY ATHLETE, BRANDON WINBUSH, WHO PLAYED QUARTERBACK FOR NOTRE DAME.

HE DIDN'T MAKE IT TO THE NFL, SO HE LOST HIS OPPORTUNITY TO MAKE MONEY WHILE PLAYING FOOTBALL.

BUT WINBUSH IS NOW HELPING OTHER STUDENT ATHLETES GET PAID THROUGH A COMPANY HE CO-FOUNDED WITH FRIEND AND CEO AIDEN SAYEL.

IT IS CALLED MOGUL.

TELL ME WHERE THE IDEA OF THIS COMPANY CAME FROM.

>> YEAH RHONDA, THANK YOU SO MUCH FOR THE OPPORTUNITY HERE.

WE'RE REALLY EXCITED TO BE HERE.

MOGUL ACTUALLY WAS DESIGNED IN OCTOBER OF 2019 FOLLOWING LEGISLATION OR PROTOCOLS THAT CALIFORNIA GOVERNOR GAVIN NEWSOM PUT INTO EFFECT THAT WOULD ALLOW CALIFORNIA ATHLETES TO MONETIZE THEIR NAME, IMAGE AND LIKENESS.

WE RECOGNIZED THAT ATHLETES DON'T HAVE THE TIME, THE RESOURCES OR THE ACCESS TO SEEK OUT THESE OPPORTUNITIES TO MONETIZE THEIR NAME, IMAGE AND LIKENESS AND RECOGNIZE THAT THERE WOULD NEED TO BE A SAFE, SECURE AND COMPLIANT MEDIUM FOR THEM TO DO SO.

SO WE STARTED TO GET TO WORK IN OCTOBER OF 2019.

>> SO BRANDON, LET ME TURN TO YOU IN TERMS OF HOW THE ATHLETES FOUND YOU OR HOW YOU FOUND THE TLOOELTS, AND WHAT YOU ARE GUYS ARE DOING FOR THEM.

>> FOR ME AS THE FORMER COLLEGIATE ATHLETE, I PLAYED QUARTERBACK WITH THE UNIVERSITY OF NOTRE DAME.

OBVIOUSLY I'M FORTUNATE THAT A MAJORITY OF MY NETWORK REVOLVES AROUND ATHLETICS.

SO WHEN AIDEN APPROACHED ME WITH THE OPPORTUNITY TO JOIN FORCES HERE AND, YOU KNOW, HELP ACQUIRE ATHLETES AT SCALE, I THOUGHT THIS WOULD BE A PHENOMENAL OPPORTUNITY FOR ME TO GIVE BACK TO A DEMOGRAPHIC THAT I'M SO PASSIONATE ABOUT AND HAVE TAKEN PART IN MY MYSELF AND HAVE AN EXPERTISE AROUND WHAT IT MEANS TO BE AN ATHLETE.

WE'VE BEEN ABLE TO PROVIDE LOTS OF VALUE FOR COLLEGE ATHLETES AND EXCITED ABOUT WHERE WE'RE HEADED.

>> AIDEN, WHY DID THE OPPORTUNITY FOR ATHLETES TO KIND OF CONTROL THEIR OWN IMAGE AND LIKENESS AND WHAT THAT MEANS FOR THEM FINANCIALLY, WHY HAS THAT MADE A DIFFERENCE IN THE ATHLETIC COMMUNITY?

AND WHAT DO YOU SAY TO THOSE WHO, YOU KNOW, AREN'T SUPPORTIVE OF THE IDEA?

>> THERE IS NO REASON WHY ATHLETES HAVEN'T BEEN ABLE TO MONETIZE THEIR BRAND AND LEVERAGE THEIR PLATFORM WHEN IT IS AT ITS ALL TIME PEACK IN 99% OF THE CASES.

MAJORITY AREN'T GOING TO PLAY PROFESSIONALLY SO WHEN THEY ARE COMPETING AT THE COLLEGIATE LEVEL, THIS IS WHEN THEIR BRAND IS ALL TIME PEAK.

TO THOSE WHO SHAY THEY SHOULDN'T BE BE ALLOWED TO DO SO.

THEN I COMMENT WHY SHOULD A 9 YEAR OLD TIKTOKER BE ABLE TO MAKE MILLIONS OF DOLLARS.

AND A STUDENT AT A UNIVERSITY BE AGE A BOO BOOK A GIG.

>> WHAT ARE SOME OF THE CONCERNS ATHLETES HAVE?

AND HOW ARE THEY AFTER YOU WORK WITH THEM, HOW DO THEY FEEL ABOUT WHAT'S AHEAD FOR THEM?

>> YEAH RHONDA, THE BIGGEST THING IN THE ENTIRE -- NOT JUST WITH THE ATHLETES BUT WITH THEIR FAMILIES, WITH THE UNIVERSITY, WITH THE BRANDS IS LACK OF EDUCATION AND LACK OF AWARENESS AROUND WHAT'S ALLOWED AND WHAT'S NOT ALLOWED, WHAT TYPES OF BRANDS CAN OR CAN'T THEY WORK WITH?

WHAT TYPE OF PLATFORMS ARE OUT THERE TO OFFER THESE RESOURCES TO EDUCATE THEM?

SO THAT IS WHAT WE TRY TO DO ONCE THE ATHLETE IS ON BOARDED ON TO OUR PLATFORM.

TRYING TO PUSH FORWARD EDUCATIONAL MATERIALS, SO THEY ARE AWARE OF WHAT OUR PLATFORM CAN OFFER THEM AND WHY WE'RE DIFFERENTIATED IN THE NAME, IMAGE AND LIKENESS SPACE.

>> AIDEN, WHAT IS THE GROWTH OPPORTUNITIES YOU SEE FOR YOUR BUSINESS?

>> IT IS INCREDIBLE, QUITE FRANKLY.

RIGHT NOW OBVIOUSLY WE'RE REALLY FOCUSING ON THE COLLEGIATE ATHLETE LANDSCAPE.

BUT AS I'M SURE YOU ARE AWARE.

NAME, IMAGE AND LIKENESS IS IN SHORT ORDER COMING TO THE HIGHEST COOL RANKS AS WELL.

WE'VE SEEN CALIFORNIA HIGH SCHOOL ATHLETES BE ABLE TO BENEFIT FROM NAME, IMAGE AND LIKENESS AND OTHERS AS WELL.

AND THE TECHNOLOGY WE'VE BUILT CAN BE USED BROADLY FOR MICROINFLUENCERS IN GENERAL.

>> BEEN A PLEASURE GETTING TO KNOW YOU.

THANK YOU AND GOOD LUCK.

>> THANK YOU.

>> THANKS SO MUCH FOR HAVING US.

>> WHEN WE THINK ABOUT THE BUSINESS OF SPORTS IN NEW JERSEY, WE DO KNOW THAT PEOPLE LOVE TO BET ON THEIR FAVORITE TEAMS.

OUR STATE MADE NATIONAL HEADLINES WHEN MONTHLY WAGES ON SPORTS TOPPED THE ONE BILLION DOLLAR MARK IN SEPTEMBER.

EVEN THOUGH VOTERS NIXED THE IDEA OF INCLUDING COLLEGE GAMES, NEW JERSEY SPORTS BETTING IS GOING TO BE JUST FINE.

ACCORDING TO THE HEAD OF U.S. OPERATIONS AT 888 HOLDINGS, A LEADING ONLINE BETTING AND GAMING COMPANY.

YOU KNOW, IT WAS INTERESTING IN NEW JERSEY.

THE QUESTION ON COLLEGE SPORTS BETTING WAS DEFEATED IN OUR MOST RECENT ELECTION.

IS IT A SETBACK FOR THE SPORBTING MARKSPORTS BETTING MARKET IN YOUR VIEW?

>> THE MARKET, NEW JERSEY'S BEEN A PIONEER.

AND GENERALLY SPEAKING WHEN YOU HAVE LESS VARIETY TO OFFER THE PLAYERS, IT IS NOT A GOOD THING.

BUT GENERALLY SPEAKING, I THINK AND THIS IS SOMETHING THAT THE MARKET WILL BE ABLE TO ABSORB.

I THINK WE HAVE A HEALTHY SELECTION OF SPORTS TEAMS, PROFESSIONAL SPORTS TEAMMATES AND OTHER EVENTS IN NEW JERSEY.

OVERALL WHILE IT IS NOT A PURE POSITIVE, I THINK THE MARKET CAN EXPAND SOMETHING LIKE THIS.

>> WE'VE SEEN SO MUCH GROWTH IN THE NJ SPORTS BETTING MARKET.

BUT AT THE SAME TIME WE KNOW OTHER STATES ARE STARTING TO OFFER SPORTS BETTING TO JOIN STATES THAT ARE ALREADY DOING IT.

HOW MUCH GROWTH DUO YOU SEE FOR THE NEW JERSEY MARKET?

>> IT WILL REACH MATURITY SOME POINT BUT THERE ARE STILL A FEW GROWTH DRIVERS TO THIS.

I STILL THINK THERE IS LOT OF RECREATIONAL PLAYERS THAT HAVEN'T DISCOVERED SPORTS BETTING.

AND I THINK PART OF IT IS ALSO THE BANKING INSTITUTIONS.

A FAIR PORTION OF THEM DOES NOT IMPROVE GAMBLING TRANSACTIONS.

STILL A FEW NASCENT GROWTH POCKETS BUT OVERALL I THINK THE PACE IF ANYTHING WOULD PROBABLY SUBSIDE IN THE NEAR TERM.

>> AT THE SAME TIME IT IS A MARKET YOUR COMPANY IS INTERESTED?

>> ABSOLUTELY.

WE'VE COMMITTED TO THIS MARKET EIGHT YEARS AGO.

WE'VE LAUNCHED OUR GAMING PRODUCTS IN IT, POKER AND CASINO, BOTH CONSUMER FACING WITH OUR PARTNERSHIP WITH CAESARS, THE WORLD SERIES OF POKER AND LAUNCHED SPORT INTO IT.

IT IS A IMPORTANT MARKET FOR US, BECAUSE STILL ONE OF A HANDFUL OF MARKETS THAT OFFERS A FULL PRODUCT EXPERIENCE TO THE CUSTOMERS, TO THE PLAYERS.

MOST OF THE OTHER STATES IN THE U.S. ARE SPORT ONLY AT THIS POINT.

SO IT IS IMPORTANT MARKET FOR US AND DEFINITELY HAS BEEN, YOU KNOW, A GROWTH GOAL FOR US LOCALLY.

>> SO I HAVE TO ADMIT.

I'VE BEEN WATCHING A LOT OF SIMPLY GREAT NFL GAMES THE LAST COUPLE OF WEEKS.

HOW IMPORTANT IS FOOTBALL SEASON NOW TO SPORTS BETTING?

THAT'S REALLY ONE OF THE SPORTS THAT ATTRACTS LOT OF INTEREST.

>> PLAINLY SPEAKING, EVERYONE, NOT JUST THE OPERATORS -- REGULATOR, POLICY MAKERS, THE CUSTOMERS THEMSELVES, PLAYERS THEMSELVES, THE FANS, ARE SPEAKING IN FOOTBALL CYCLES.

SO AS YOU CAN SEE TYPICALLY LEGISLATION AND THEN LAUNCHES ARE DONE IN SORT OF TANDEM TO FOOTBALL SEASON.

BOTH COLLEGE AND THE NFL.

THIS SORT OF SOMEWHAT EXTENDED, SO AFTER THE SUPER BOWL EVERYBODY SORT OF HAVE THEIR IS MARCH MADNESS BUT BETWEEN 55 TO 65% OF BETS ARE MADE ON FOOTBALL.

SOME CASES 75 OR 80% ARE MADE ON FOOTBALL EVENTS.

CYCLIC.

SO WITH FOOTBALL SEASON YOU SORT OF MOVE BETWEEN ONE WEEKEND TO ANOTHER.

SATURDAYS OWNED BY COLLEGES.

SUNDAY BY THE NFL AND TWO OTHER GAMES.

SO FOOTBALL IS IMMENSELY IMPORTANT FOR THIS MARKET.

>> WELL ITS BEEN REALLY GOOD TALKING TO YOU AND GETTING YOUR INSIGHT ON WHAT'S HAPPENING IN SPORTS BETTING.

APPRECIATE IT.

>> THANKS FOR HAVING ME.

>> AND THAT WRAPS UP OUR SHOW FOR THIS WEEK.

THANK YOU SO MUCH FOR WATCHING.

I'M RHONDA SCHAFFLER.

WE'LL SEE YOU NEXT WEEK.

>>> FUNDING FOR "NJ BUSINESS BEAT" PROVIDED BY NJCU SCHOOL OF BUSINESS, A GAME-CHANGING FORCE, OFFERING PROGRAMS LIKE FINANCIAL TECHNOLOGY, OR BUSINESS ANALYTICS AND DATA SCIENCE.

WE'RE STEPS AWAY FROM THE EXCHANGE PLACE PATH TRAIN IN JERSEY CITY.

AND MINUTES FROM WALL STREET.

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