In short
The episode mixes sports-business talk with a deep interview about Olympic sprinter Allyson Felix’s transition from athlete to entrepreneur—centered on her Nike dispute, maternal protections, and building women-focused companies, plus her role in LA28 and the 2028 Olympics.
Guest backgrounds
Allyson Felix is a seven-time Olympic gold medalist with 11 Olympic medals, an entrepreneur (shoe company and talent/management firm), and an IOC member involved with LA28. She co-founded Always Alpha with her brother Wes (her former agent).
Key claims
Felix says she identifies first as an Olympian; her Nike break came after a renegotiation offer cut pay by 70% and Nike lacked maternity protections. She wrote a New York Times op-ed; within weeks Nike changed policy, later offering 18 months of maternal protection for female athletes. She argues women’s shoes were built on men’s molds and founded her shoe business to correct that.
Notable examples
Mexico City 200m high school win (20.11); training “in the dark” while pregnant; Nike’s “case by case” stance; Always Alpha’s all-in focus on women’s sports; LA28 Olympics planning as a “world championship in every sport every day” challenge.
Written by AI. May contain mistakes. Listen to the episode to check what was said.
Chapters
Tap a time to open that second in VOBaseball Talk: Struggles of NY Teams
0:42 to 1:54
Discussion on the current struggles of the Yankees and Mets.
“I love it we're in the same room together.”
Business of Sports: Payroll and Performance
1:54 to 3:25
Exploring the correlation between payroll and performance in baseball.
“and the Mets are somewhere around$340 million payroll.”
Team Dynamics and Accountability
3:25 to 6:08
The importance of accountability and leadership in baseball teams.
“And when you look at making these decisions that now you and Mark Lurie have to make, how do you look at something like, OK, you've got these teams led by very smart people.”
Mariano Rivera's Legacy and Aging Athletes
6:08 to 7:22
Reflections on the impact of aging in sports, focusing on Rivera.
“Part of it's about motivating the people around you, which I think is just a fascinating aspect.”
TKO's Major Media Deal
7:22 to 14:00
Analysis of TKO's deal with CBS and its implications for UFC and media.
“So before we leave baseball, one unfortunate shout-out is your old teammate, Mariano Rivera, old-timers game.”
Defining Identity as an Olympian
14:14 to 16:18
Allyson reflects on her identity and journey to becoming an Olympian.
“How do you identify yourself at this point?”
The Path to Competitive Running
16:18 to 17:54
Allyson shares her experience discovering her talent in high school track.
“I think, you know, that's the beauty of life and it taking you to some places you, you know, you didn't plan.”
The Moment of Realization
17:54 to 20:08
Allyson discusses when she realized she could pursue sports professionally.
“That's so interesting too, because Alex, because I know your story pretty well, I'm hearing echoes too of your high school coach saying, listen, this is what's going to happen next.”
Transitioning from Athlete to Entrepreneur
20:08 to 21:21
Allyson talks about her transition from athlete to entrepreneur and leaving Nike.
“I can actually fund myself to make a career out of this.”
The Fight for Maternal Rights in Sports
21:21 to 25:34
Allyson describes her fight for maternal protections as a female athlete.
“And there are many great interviews that you've done where people could learn a lot more about that.”
Show all 19 chapters
Starting a Women-Focused Shoe Company
25:34 to 27:44
Allyson explains her decision to create a shoe company focused on women.
“I mean, it's a huge moment in the history of the sport.”
Introduction to Challenges After Sports
28:06 to 28:24
Exploration of the transition from athlete to entrepreneur and challenges faced.
“Guess you didn't move in on a bunch of dumb hillbillies now, did you?”
Imposter Syndrome in Business
28:24 to 30:46
Discussion on the feelings of imposter syndrome and challenges of being a person of color in business.
“Jason, you mentioned it's never a straight line.”
The Importance of Team in Business
30:46 to 34:24
The significance of building a strong team and mentorship in entrepreneurship.
“And, you know, I remember how big your story was with Nike and how proud I was of you.”
Creating Always Alpha Talent Management
34:24 to 37:46
The founding of Always Alpha and the focus on representing female athletes.
“to go and build this great company that you want to build.”
The Future of the Olympics in Los Angeles
37:46 to 40:04
Insights into the challenges and excitement of hosting the Olympics in LA.
“And now, you know, in three years, you know, almost exactly three years from now, your hometown, Los Angeles, is going to host the Summer Olympic Games.”
Personal Reflections on Athleticism
40:04 to 41:10
Discussion on the desire to maintain athletic skills and memories of competition.
“I think there will be a lot of new fans for a lot of different sports.”
Lightning Round: Quick Insights
41:10 to 42:01
A rapid-fire session of questions and answers on business and life advice.
“So we end every episode with a lightning round.”
Hype Songs and Career Advice
42:01 to 42:40
Learn about the importance of motivation and actionable steps for career success.
“before you go into a big meet or negotiation?”
Transcript
Automatic transcript. May contain errors.0:00Next week on Leaders with me, Francine Lacroix. I speak with Harvard Business School professor Linda Hill about what CEOs need to know to be successful.
0:10Allyson Felix:It really is not about them. It is about the organization. About how to lead in the age of AI. That requires a lot of confidence. And why great leaders embrace conflict. You need to amplify difference. Listen and watch Leaders, the podcast with me, Francine Lacroix on Bloomberg TV or wherever you get your podcasts.
0:32Bloomberg Audio Studios. Podcasts. Radio. News.
0:42Welcome back to The Deal. I'm your host, Jason Kelly. Back with my co-host, Alex Rodriguez. Not just back, in the same room. I love it we're in the same room together. You're here in New York. We're in our fancy studio here at Bloomberg headquarters. And very excited about today's episode, a conversation with Allison Felix. But before we get to that, I want to talk some baseball. A couple weekends ago, I tuned in. I wanted to watch a little motor car racing. I knew you were at Bristol. Rain out. So you got to stretch. You got to fill some time. Yep. But the best stretching was you and Mr. Derek Jeter, a couple former Yankees, chopping it up about the state of this team.
1:19I live here in New York. It ain't good, bro. Yeah. The irony about that, by the way, you give Major League Baseball and Rob Manfred a lot of credit. Tony Clark, the head of the union for Major League Baseball. These are the kind of chances they need to do. And merging properties, as Fox has with Speedway and with Major League Baseball, and you had almost 100 ,000 people there, it was a phenomenal effort. You can't control the weather, so we'll give them a pass. But as a result of that, Jace, we had an hour pregame show, and that turned into like two and a half, three hours. And we're like, what are we going to talk about?
1:49And of course, inevitably, the New York teams have been struggling now for about two and a half months. and the Mets are somewhere around$340 million payroll. The Yankees are hovering right at$300 plus and the results are not there. I think both teams in a weird way have benefited from struggling at the same time. Yeah. Especially the Mets. Oh my God. Because it's still a Yankees town and the Yankees have been awful. And it's tough to watch right now. Yeah. I mean, we talk on the show all the time about obviously the business of sports. We think about payrolls. We think about investment. We talk to owners all the time.
2:23Meanwhile, out of Milwaukee, our friend Mark Atanasio, the Brewers are crushing it. They're sub$100 million, I believe, in payroll, and they have the best record. And they do it in a beautiful way, Jason. They win two ways. They either win the game or you'll lose the game. But they'll force you to get 27 outs, and they'll force you to give them 30 because they put the ball in play. They take the extra base. They have an old school manager in Murphy who has a beautiful story, by the way. He recruited me when he was at Notre Dame and Arizona State. Then he went seven years as a bench coach to Greg Council, who's now got a big contract with the Cubs.
3:01And he's a 66-year-old guy. He calls it as he sees it, calls his players out. I'm not saying that's always the best way, but there's an accountability in Milwaukee that's pretty awesome. And that fan base, I cannot wait. Hopefully they advance because that's a fun stadium and it's a great team to cover. Right, and you'll obviously be covering with Fox the playoffs again this year. So looking forward to that in October. So I would ask you to put on a different hat, which is your owner's hat. And when you look at making these decisions that now you and Mark Lurie have to make, how do you look at something like, OK, you've got these teams led by very smart people.
3:36Steve Cohen, who owns the Mets, is not a dumb guy. He obviously is very willing to invest. Mark Adonacio, also not a dumb guy. He's investing literally less than a third of what Steve Cohen is. As you think about those types of decisions, what do you take away when you see payroll and performance not being correlated? Well, for one, it doesn't matter if you're the Yankees, the Mets, or the Dodgers with these huge revenue. I mean, the Dodgers are going to do over a billion dollars in revenue. That is unbelievable. Those are NFL numbers plus, right? That's more than 90 % of NFL teams are making.
4:12So that's phenomenal. But the problem is you can't have contracts that are just dead ducks. And what I mean by that, you take three contracts with the New York Yankees. You have Aaron Hicks, Marcus Stroman, and you have DJ LeMayhew. Those three players make more money combined than Bryce Harper and Kyle Schwarber, who may be the National League MVP for the Phillies this year with 42 home runs. You cannot have that type of dead money. So all of a sudden, salaries are on$300 million for the Yankees. Now it's really a 220. Yeah. So it's a little misleading. So you've got to stay away from the big bombs.
4:42If you look at the Brewers contract, every contract's in the money. Meaning if you're paying a player$2 million, he's paying like a$5 million player. If you're paying someone$5 million, they're paying like a$10 million player. The opposite is true for a lot of the Mets contracts and the Yankee contracts. So you've got to stay away from the big bombs. And then the other thing is you've got to be a contrarian. And the Brewers are playing like the 1980s Brewers, the 1990s Brewers. They're valuing contact. They're valuing going deeper into games. They're valuing catching the ball, putting pressure on the ball.
5:09I mean, this whole concept of, you know, the three outcome results, either you strike out, you walk, you hit a home run, I think is not only boring and a bad product, it's just not sustainable. The other part is when you have pitchers like the Yankees and the Mets that go four and a third, five and a third, you're asking 12, 13, 14 outs out of the bullpen every night. It's just not sustainable. So I like to see the Yankees go back into rewarding pitchers, go them into sixth and seventh inning, and having two or three pitchers close out the game, not seven pitchers. Too many things can go wrong.
5:38Yeah, the talent management piece of it is so interesting to me. I was reading a story, I believe in the Wall Street Journal just recently, that was talking about the Tigers, another unbelievably high-performing team. And one of the things they talked about was the third base coach essentially went to the team and was like, stop lollygagging around the bases. Go. Let's go. Like that was literally the quote. It's like, let's go. So when you're on base, like err on the side of like going for it. And that didn't just change their run scoring, but it changed their mentality of like we're a team that goes for it, which I thought was such a fascinating insight because we can talk about dollars and cents all day long.
6:15But you know this is a player. You know this is an owner. You know this is an entrepreneur. Part of it's about motivating the people around you, which I think is just a fascinating aspect. These are human beings. I think that's well said, Jason. I think motivated and also it's leadership and it's accountability. And we have kids. Both of us have kids. And when they were 10 years old, if you say, hey, your curfew is 10 o 'clock and they get there at 1030 every night and nothing happens. Well, they're going to be there at 1030, 11. They'll be there at midnight and nothing's going to happen. When someone like Jazz, nothing against Jazz.
6:45As he makes a brutal base running mistake, so does Wells, walks off the bag in an X-ray inning game with two outs, and he gets tagged for the third out. You have to come sit on the bench. You have to set a point that that type of behavior, we will allow physical mistakes with the right intentionality, trying to make the right impact in the game, no problem. Those are rewarded, as long as they're aggressive and they're thoughtful. When you're just forgetting the outs or you make just a bonehead play, you've got to come sit on it, maybe a day or two. And that sends a message to everyone. And those kind of things are not happening.
7:14So I think sometimes Murphy, we talked about the 66-year-old manager for the Milwaukee Brewers, he'll sit your ass on the bench right now. Yeah. And that needs to happen more. Yeah, interesting. So before we leave baseball, one unfortunate shout-out is your old teammate, Mariano Rivera, old-timers game. He's out in center field. I watched the video. He goes down. He tore his Achilles? Brutal. You know what? We're all getting old, Jason. It's sad, really sad. But I'll give you a quick story. when he was 41 years old, we had 75 players in Tampa in spring training, 75. And that 75, we get cut down to 25.
7:48So essentially 50 go home, 25 make the team. And there's really like one or two open spots. But in the first day you have physicals and he was number one in like four categories at the age of 41 from 75. And most of us were in our twenties, right? I wasn't, but a lot of these, he was number one in flexibility and he was number one in vertical jump at 41 years old like he can dunk a basketball like easily at 41 and to see him go down on you know old timers day was heartbreaking i'm gonna face some of them after this yeah see how my how my guy's doing he's the best he is the best and hopefully uh he's doing well there's an interesting corollary and sort of call ahead to this week's episode with allison felix because we actually talked to her about the idea of like you still get out and sort of practice your trade i don't think you're playing nine innings anymore, and she's not running the track like she used to.
8:37But, you know, it's the mentality. But her answer will surprise our listeners, I believe. Yeah, yeah. No, it is pretty good. So before we get to that, one last really interesting deal of the week, and in a lot of ways, is Mark Shapiro, one of the first people we had on this show, of course, the president of TKO, longtime ESPN executive, ran Six Flags for a while. TKO, a massive, massive deal. Of course, they control both the WWE and most notably in this case, the UFC. Dana White, obviously the guy behind all of that. $7.7 billion media deal. Eye-popping to say the least in its enormity, just the figure, but also a different business model now for the UFC in business with Paramount+.
9:25When you look at this deal, Jason, it's really eye-popping because CBS is an American institution. And this is a very, very important deal, not only for media and sports, but really for America. And a couple of numbers to really think about here. Larry Ellison and his son, David Ellison, acquired this with our friend Jerry Cardinal as the third partner. Those three control 70 % of a capital stack, meaning all major decisions will be made by those three individuals, which is really good because all three of them are really smart. The other part that's eye-popping is they have 70 million subs. Yeah.
10:00That's about 20 million more than ESPN. That was an eye-popping number. And if you combine a couple of those with Peacock, combined, they don't have 70 million. And then the other part that is fascinating, because I have a lot of fans that are UFC fans, is you may now see UFC fights. No more, you have to pay for it. No more pay-per-view. You can actually watch it on CBS, on live network TV, which is pretty cool. So I'm really excited about this. And to think about it, Mark Shapiro, again, and Dana White negotiated a brilliant deal. It was a perfect storm, right? because David Edelson is trying to make a statement.
10:32Like, here we are. We're not just the old CBS. We're not your daddy's CBS. We're new CBS. We're going to push the envelope. And they doubled from$5.50 to about a billion one per year. Massive deal. Well, and you think about, you know, obviously David Edelson and his dad, Larry Edelson, incredibly bright. Don't sleep on exactly what you mentioned before. Jerry Cardinal created the S-Network. He's a team owner. He is so deep into this. And obviously the Skydance deal for Paramount I think we really do need to underscore this idea of bringing it out from a pretty old-school pay-per-view paywall and now potentially really juicing subscribers for Paramount+.
11:12It's so funny. Just anecdotally, my son Henry, who's 21, huge UFC fan, his first reaction was literally sends me a text, two texts. Did you see this deal? When are we getting Paramount+. Wow. I mean, those were the – and that was it. And so that is exactly what I think Jerry, Larry, and David were imagining was all these young UFC fans being like, well, I'm going wherever it is. And so that sort of subscriber acquisition, they understand, and David Ellison said this in a lot of the press as he was talking about it, the power of live sports is massive. Media rights, you're very familiar with this.
11:49You know how that's going for all the major leagues. Yeah, and a few more things there, Jace, to add on to what you said, and I agree with everything you said. I think what's really powerful about TKO is unlike any other league, this is truly probably the most global sport in the world outside of soccer. I mean, they can go anywhere in UFC. And that's something that Major League Baseball can be a little jealous of, NBA, NFL, everyone, right? Because what the NFL and NBA and Major League Baseball is trying to do, TKO is already there. So when you think about subs for Paramount, these eyeballs are going to come from all over the world.
12:20That's one point. The other thing that's really important to remember is, okay, where's David Ellison going to go next? Yeah. Is he going to go to maybe baseball? Because back in the day, he used to have baseball. Can he go to WNBA? What else is he going to bring as an attraction? Because obviously now they want to get the subs from 70 to over 100 million. And you're only going to do that through live sports. And I think they understand that. Well, let's not forget that the NFL is probably going to opt out of their current deal. And so that's going to come up for negotiation as well. So watch this space.
12:48And obviously, if you want to learn more about Jerry Cardinal and Mark Shapiro and a lot of the other people we mentioned, go back into the feed. Listen to those episodes. You'll learn about sort of how they think. All right. Coming up this week on The Deal, Alison Felix.
13:06Our hometown is not a test tube.
13:09Allyson Felix:90 miles northeast of Nashville, a battle for the future of America plays out in one small town. Developers with right-wing ties have purchased hundreds of acres of land. We need cities on a shining hill. This is Our Town, a podcast about what happens when a small town becomes the site of a social experiment and fights back. Guess you didn't move in on a bunch of dumb hillbillies now, did you? Listen to Our Town on the iHeartRadio app, Apple Podcasts, or wherever you get your podcasts.
13:47Welcome back to The Deal. I'm Jason Kelly alongside Alex Rodriguez. So excited to have with us Allison Felix. She is seven-time gold medals, 11 medals from the Olympics to her credit. She's an entrepreneur in many different ways. She started a shoe company. She started a talent company. She's involved in the LA Olympics coming up. We're so excited to have you, Allison. Thank you so much for being here.
14:11Allyson Felix:Oh, thank you guys for having me. So let me start with sort of a question that I've been thinking about because there's so many different ways to go with you. How do you identify yourself at this point? Because you do have all of these different things that you've done, but also things that you're doing. Like, how do you describe yourself to the world? I think I always come back to Olympian. You know, it's the starting place. And I believe that that has allowed me to do so many other things that I'm really passionate about. And so that leads me to entrepreneur. And, you know, I still it's so passionate about advocating for women's rights and, you know, everything in that lane as well.
14:48Allyson Felix:But I think Olympian kind of wraps it up. And it's funny, Alex. So Allison and I got to know each other. I was working on a series that still is going on at Bloomberg called Power Players. And I spent a couple of days with her in Los Angeles. And we went to her high school and saw that track that's named after her. And then, of course, there's another track named after you, Allison, at USC, where you went to college, where Alex and I both spent a decent amount of time. This was not – I mean, I remember sort of being surprised at the time that, you know, you took this up from an athletic perspective, you know, sort of late in life in the sense of, like, you sort of rocked up to high school and realized you were, like, generationally fast.
15:28You know, as you look back on those sort of early moments, and as you say, you define yourself as an Olympian, does any of this sort of surprise you that it's all gone this way?
15:38Allyson Felix:I think all of it all of it has I mean I just I never you know set out to be a professional athlete like that was not my family's plan you know I think with some Olympians you know there is like this roadmap that they're following and that's always been the intention you know they've started when they were like three years old and you know done all of that but for me you know I stumbled into the sport and I came in because I was looking for friends in high school and super shy and introvert. So when I look at my path and my journey and where I am today, there's no parts of it that I would have thought that this would have happened.
16:18Allyson Felix:But I think, you know, that's the beauty of life and it taking you to some places you, you know, you didn't plan. So for me, Allison, as an athlete, it was around my junior year where I kind of went to the U.S. Olympic team. I looked around and I said, hey, you know what? I'm pretty good. And that gave me an incredible amount of confidence when I went back for my junior year at Westminster Christian in Miami. When was that moment for you that you just said, hey, this is more than just getting to know friends. I'm actually unique. I'm a unicorn. Yeah, I think it was similar for me. It was it was my senior year in high school.
16:53Allyson Felix:And I remember I went to my coach was really great about kind of pushing me. And he had entered me in this professional race and it was in Mexico City and we all flew out there. And, you know, for me, I was just excited to compete somewhere, you know, other than the high school. And so we get there and I'm just like, OK, I'm just going to do the best that I can. There were other there were Olympians in the race and, you know, really accomplished women. And I ran that race. I was like in the very outside lane. I don't think anybody knew that I was there. And I just ran as hard as I could. I remember crossing the line of like, oh, my gosh, nobody passed me.
17:29Allyson Felix:Like I actually won this thing. And I ran the fastest time in the world at that time. And that was kind of the shift for me where it was like, oh, okay, like I have the ability to do something different. And maybe this is going to be bigger than just getting a scholarship to go to college. And Allison, what event was it? And what was the time? It was the 200 meters and I had ran 20 to 11, the high school record at the time. Yeah. Wow. That's so interesting too, because Alex, because I know your story pretty well, I'm hearing echoes too of your high school coach saying, listen, this is what's going to happen next.
18:05This is the roadmap. And it sounds like, Allison, you were in a position to sort of have people around you. And we're going to talk about your brother later on because he's been so critical in your journey, especially as a business person. But those people who essentially said, no, you can do this. And then, of course, you have to go out and do it. But sort of having the people who can say, this is the direction, this is the path I see for you is critical.
18:30Allyson Felix:Yeah. I mean, because I didn't even know at that point I had been running track for, that was like my fourth year ever running track. And so I didn't, I didn't know, you know, I didn't know the history. I didn't know the sport. And Alex, I don't know how it was for you. My coach, he was a volunteer coach. Like he didn't know either. You know, he knew that there was so much potential there and he saw the talent but then he really wanted to help like surround me with people who were knowledgeable as I was going out for the next level but it was really about the people around me seeing that okay you have a gift and I think that's incredible when somebody can see it in you and believe in you before you even know yourself I think that just it speaks volumes And I think you want to rise to the occasion as well, because it's like, well, this person who has done it before and has all this experience is telling me that, you know, this is possible.
19:26Allyson Felix:And, yeah, I feel like that was my experience kind of on the next level, you know, when I reached my the next coach that I worked with. It was just like, OK, if you believe in me, then I know I can do this. And I remember you and I have talked about this a little bit before, but, you know, there is this moment, too, for you where it's not just like, oh, I can go out and win races, but I can essentially do this for a living. I'm going to do this as my life's work for some amount of time. What was that moment where you realized, OK, there is sort of financial viability? You know, it's like you didn't come from a huge amount of money.
20:01Like there's some risk involved, but but what's the moment where you see, OK, like sponsors are showing up. I can actually fund myself to make a career out of this.
20:11Allyson Felix:Yeah. After I ran that time in Mexico City and, you know, I then qualified for the world championship team and things started to happen. And then that's when, you know, the sponsors started to come and they started to talk to my family about, you know, the possibilities of not going to college. And at that time, there had never been a track athlete from the U.S. that didn't go to college and went straight to the pro. So that was it felt very risky. You know, it felt like I think people were really critical of that idea. And it was just me kind of leaning on my family. My family didn't really know either because, you know, we were all new to the sport, but they were just dedicated parents.
Read the full transcript
20:52Allyson Felix:You know, like they would do their homework. They talk to their friends and just tried to figure it out. But it was really at that moment where we started to understand like, oh, this could be a career. Because for me, I don't even think I had that understanding. You know, I had I understood, you know, the Olympics, but I didn't know that, you know, people were out here doing this for a living. We're going to fast forward a little bit because and it sounds ridiculous to sort of essentially like yada, yada, yada, a bunch of like gold medals and world championships and things like that. But you did all that.
21:22And there are many great interviews that you've done where people could learn a lot more about that. But we do want to talk about sort of the business of Alice and Felix because it is not a straight line. What seems like the biggest moment probably in your life is you sign with Nike and then you break up with Nike. And, you know, you have this moment where you essentially have to leave them because they will not pay you empirically what you're worth. Walk us through that decision. You go public with this. I know you've told the story a lot, but like it is it's critical for people, I think, to understand not just who you are, but like what you did and the implications of that.
22:03Allyson Felix:Yeah. Yeah. That moment changed my life. As we've talked about a little bit before, I'm an introvert. I was really about just doing my job head down. You know, I'm here to try to win medals, try to break records. That's what it's all about. And when I decided to start a family and, you know, I had been with Nike for almost a decade at the time, I did have a lot of fear in that moment because I had seen what my teammates and my colleagues had been through and they had really struggled through motherhood. And what was happening to a lot of them was their contracts were being paused once they, you know, shared that they were pregnant or they would hide a pregnancy and try to get a new contract.
22:42Allyson Felix:And so I was renegotiating my contract at the time and I did not disclose my pregnancy yet. And my renegotiation was already starting off in a very bad place. The offer was 70 percent less than what I had been making before. And so that really amplified my fear. I felt like the same thing is going to happen to me. It happened to all of my teammates. And so I did what they did. You know, I hid my pregnancy. I started to train in the dark. I did all of these things because essentially there was no nothing on paper to secure even this 70 percent less. And this drug on for a really long time. You know, we continued to try to negotiate and it wasn't going well.
23:25Allyson Felix:And so I really had this moment where I shifted my ask away from my concern around the financials to asking for maternal protections. And simply what that means in track and field is that if you go to the Olympics or you go to world championships, you get a bonus. But if you don't, you get a reduction. And so if you are pregnant or if you just had a baby, there's nothing in place to protect you. And so, you know, what I was looking at was facing another reduction, even on top of the 70 percent, if I didn't make it back to the world championships months after having a baby. You know, it seemed absurd.
24:07Allyson Felix:And it's what so many women had been facing for so long. And so that's what I asked for. And actually, when I, you know, shared that and, you know, I had disclosed my pregnancy, shared all the things, and they said, OK, you know, you could have that time to be able to recover. And I was like, great, that's all I, you know, the money's the money, whatever. I can accept that. But this to me is a non-negotiable. And so when the contract came back, I was shocked because there was no mention of pregnancy, no mention of maternity. And so what we learned is that they were not willing to tie this time to be able to recover from giving birth to maternity.
24:46Allyson Felix:You know, they were willing to do it for me, but in their words, they said they wanted to take it case by case basis. And so that's really what led to, you know, writing this op-ed in the New York Times and, you know, sharing what I had been facing in so many of my teammates and colleagues as well. And that was terrifying because, you know, it was everything that was opposite of, you know, what I was about. But I just I deeply believed in what I was doing and deeply believed that things needed to change and came out with that op ed. And I think it was something like two, two and a half weeks later that they changed their policy along with other companies.
25:25Allyson Felix:And today they offer 18 months of maternal protection for all their female athletes. And, yeah, other companies are standing on that as well. Yeah, it's a huge moment. I mean, it's a huge moment in the history of the sport. It's a huge moment in gender equity when it comes to sports. it's what's interesting, Alex, is then Alison decides to take it a step further and say, I'm going to start my own company. I'm going to start my own shoe company, which is not for the faint of heart as someone who has worn a lot of athletic shoes over the course of his life can attest to. And I know Alex and I are both interested in this.
26:00Talk about that moment where you decide to start your own company.
26:04Allyson Felix:Well, I think you said it perfectly. Like, I think when you don't know what you're up against. You know, in that moment, you're so passionate. And, you know, this is the next step. I can't find another sponsor. So, you know, I'm talking to Wes, like, let's do it ourselves. Wes is your brother. Sorry. Yes, my brother, Wes. And then we take steps to actually do it. And it was a huge, a huge thing. You know, I think you almost need that piece of not knowing how hard this industry is. Because had we known, you know, maybe we don't go into it. But the moment that really pushed us forward was, you know, I start looking for another shoe sponsor.
26:43Allyson Felix:I can't find one. And when Wes says, you know, I think we should do this ourselves, what we thought we were creating was, you know, just shoes for me to wear in the Olympics. But as we, you know, did a deep dive into the industry and we start talking to people, we learn of this bigger problem. And that is that shoes weren't being made for women. And so a shoe is built off of a lass, which is a mold of a foot. And it's the mold of a man's foot that has been used to make women's footwear. And that was the thing that really pushed us forward and said, you know, this is so much bigger, you know, than me or what I went through.
27:20Allyson Felix:This is saying it's time for the industry to change. We have to be making shoes specifically for women. And they can't be an afterthought. And we can't just have this brilliant marketing that is telling women that they're wearing shoes made for them when they're really just wearing men's shoes.
27:43Our hometown is not a test tube.
27:46Allyson Felix:90 miles northeast of Nashville, a battle for the future of America plays out in one small town. Developers with right wing ties have purchased hundreds of acres of land. We need cities on a shining hill. This is Our Town, a podcast about what happens when a small town becomes the site of a social experiment and fights back. Guess you didn't move in on a bunch of dumb hillbillies now, did you? Listen to Our Town on the iHeartRadio app, Apple Podcasts, or wherever you get your podcasts.
28:24Jason, you mentioned it's never a straight line. Well, that's so true in my case. In 2014, I served a very long suspension for PDUs. And during this time, as I'm thinking I'm the fourth quarter of my career, I was always thinking and planning life after baseball. And then I have this kind of giant problem that I got myself into. And that was a very scary and daunting time for me because I'm like, well, it's hard enough to go from athlete to entrepreneur. And now I have this big kind of red mark on me. And it was very scary. Did you go through that? I mean, with the op-ed, you have this controversy with Nike.
29:05arguably with all the gold medals you made, your legacy is going to be you change and you made a huge impact for all women, including my daughters, which is incredible. But did you go through a very scary time of going like, oh, boy, is this the right time? As you talk with Wes, your agent, talk us through that a little bit.
29:20Allyson Felix:Oh, absolutely. I mean, I'm very interested in your perspective on this as well. But being an athlete, you know, who is moving in the space of an entrepreneur, were, there was so much imposter syndrome. There was so much feeling of like, do I actually belong here? You know, I'm completely in a new industry now and I'm raising capital. And, you know, I think in one sense, it is great being an athlete and, you know, you get every meeting and, you know, the doors are opened, but then sometimes you step into the room and I'm like, is this a meet and greet? Or, you know, you don't feel like you're being taken seriously.
29:58Allyson Felix:Or the question is, well, who's really going to run the company. And so it's fighting all of that, especially, you know, as a person of color, as a woman of color, knowing the statistics around how much, you know, VC money is going to us. It's such a small number. And so it did feel like I'm just fighting against so much. And it just feels like this is so hard. And it's been hard at so many different kind of levels, I think it's asking yourself, like, do you have the fight still? You know, after all the athletic career, do you still have the fight to break into something new? And to me, it was really my why that continued to push me forward.
30:38Allyson Felix:But did you experience something similar? Did you, you know, did you face that imposter syndrome or was it more of a kind of a natural progression for you? No, there was nothing natural about it. And, you know, I remember how big your story was with Nike and how proud I was of you. And also as a man of color and someone who went through a very, very public event. I mean, if you think about it, it was Major League Baseball. It was the New York Yankees. It was PDUs. I mean, it had every buzzword. And it was a big, big national, not a global story. And at the same time, at the heels of that, I'm trying to introduce myself to the market as an entrepreneur and how important vital trust is.
31:17So I was having red marks across the board, which created a lot of headwinds. and I needed to find a way to kind of never give up because I think that's what you and I have as athletes is we have this ability to just keep pushing forward no matter how much the odds are against us. And then I just took it one step at a time and I took very, very small steps, but as long as I was moving a little bit forward every day and rebuild my reputation, and now it's been 11 years and I'm in a good place, but it was one of the most challenging things that I've ever had to endure. And it's made me better for it.
31:55My question for you is, you had this imposter syndrome you mentioned, but you're also an introvert. I'm a little bit of an introvert until you get to know me. Like Jason thinks I talk too much now, but we're very good friends. When Alex says he's an introvert, I just like, can you hear my eyes rolling at this point? But did you feel, Allison, like how did you introduce yourself into the business community that sometimes is very scary? I would say all the time is very scary.
32:23Allyson Felix:Yeah, for me, it did feel like all the time at the beginning. It was. It was just so new and so uncomfortable, you know, going into so many rooms. You know, I'm used to being the only at a lot of different points in my life. But I found it particularly hard in this space. I think that I had to remind myself that I did belong. And so many things that allowed me to be successful on the track are the same things that will allow me to be successful in this new area. They might all be called something different in business, but I know how to work hard. I know how to do something, you know, be the best in the world at something.
33:04Allyson Felix:And I just have to translate those skills and the perseverance and the dedication to me. that has been the part that has served me the most because, you know, in business, there's so many ups and downs and it's about, you know, really coming back and not being afraid. I think that's the thing that has been at the core is, you know, I've failed a million times on the track and it doesn't shake me. And so it's like, OK, can I come back and I put the pieces together and can we keep doing this? I'll share one quick advice that my good friend and mentor, where Magic Johnson taught me many, many years ago.
33:40He said, Alex, you know, whether it's you, Allison, myself, when we go into a meeting, we can take every meeting and we'll be very successful at taking meetings. However, you usually end up with a picture and a signed autograph, and that's it. He goes, when you get into those meetings, it's your job to stay in those meetings. And how you stay in those meetings is you have to have a world-class team. It can't just be Magic Johnson. It has to be Pat Riley, James Worthy, Kareem, Kobe. you have to go in there with a team that's worthy of winning championships in the world of business. And that's one of the greatest lessons I've learned.
34:14And as I thought about building my team and building my company, the one thing that you and I can do is we are pretty good at recruiting great talent, is identifying it, and then how do you bring them on board to sharing your vision to go and build this great company that you want to build. And yeah, so I pass that along with you because it served me so well as an entrepreneur.
34:34Allyson Felix:I appreciate that. That's incredible advice. And I, I'm so grateful for, you know, you for magic for Serena for athletes who have been in this space and who have been really transparent about their journeys, because it is a difficult road. I think, you know, it's hard enough to deal with retirement. But then, you know, when you have these really ambitious goals to be successful in business as well, to be able to look at people who have done it, it's very helpful. And to me, it's been refreshing. You know, I feel like in sports, it is so competitive sometimes, you know, in the world of business, I have found it really refreshing to be able to connect with people who want to see you win and want to help you.
35:20Allyson Felix:And I think, you know, coming back to team, that is everything. And we've all been a part of some incredible teams and knowing how to build them and how to be a team player, you know, is definitely so relevant in this in this new world. Well, and that's a really nice and natural segue into Always Alpha. Walk us through the decision to create the talent management firm. Also, I believe you partnered with your brother Wes on that and some other folks. So walk us through that. Yeah, absolutely. I think, you know, it comes back to when you don't see something in the world that you feel should exist, creating it and not being afraid to do so.
35:59Allyson Felix:And I think creating Seish first really helped me to see that that's possible. And so Wes, my brother, he's a couple years older than me. He represented me for the majority of my career as an agent. And he, you know, built a really great boutique agency that really focused on Olympians. And when I got to kind of the end of my competing years, I was kind of having these conversations with Wes was like, I wish I could do this again. I feel like I learned so much. And women's sports is, you know, having incredible momentum. I was just like, I feel like it would be so incredible to be able to put all this knowledge to use.
36:40Allyson Felix:And that's really where the idea of Always Alpha came from. It was, you know, saying we want to create an agency that is fully focused on women's sports. Like we are all in on women's sports. It's not about, you know, we can sign, you know, this male athlete and, you know, that's going to take care of the bills and it's we're all in. And so our firm is fully focused on women's sports. We really are kind of modeled off the entertainment industry where we are a management firm and And we can also, you know, work with others, but really representing female athletes and the ability to build their business on the field of play and off the field as well.
37:19Allyson Felix:And so, you know, when people have come to me, athletes, and ask me, you know, how was I able to do this or that? You know, really being able to point them into the direction and say, well, we bring the best people in the world to build your business out and to really walk this journey with you and create what you want to create. And it's not this cookie cutter kind of model that comes from some of your more traditional larger agencies. It's funny, as we start to sort of wind down a little bit, there's one big topic that I want to sort of end and sort of go back to where we began, which is you're an Olympian.
37:56That is how you identify yourself. And now, you know, in three years, you know, almost exactly three years from now, your hometown, Los Angeles, is going to host the Summer Olympic Games. You've stayed deeply involved in the Olympics. You were recently inducted into the U.S. Olympic and Paralympic Hall of Fame. You're deeply involved in the organizing committee to bring and put on a successful Games there in Los Angeles. From a business person's perspective, because now that's the hat you wear, what are your sort of biggest visions? What are the biggest challenges for bringing the Olympics successfully to L.A.?
38:30Allyson Felix:Well, first, I'm so excited that the Olympics are coming to LA. I think it's incredible. But yeah, I'm wearing a different hat this time. I'm an IOC member. I sit on the LA28 board. I think, you know, the biggest challenge is looking at this from a standpoint of it's almost looking like a world championship in every sport happening every single day. That is a massive undertaking. And so a lot will happen between now and 2028. And being Angeleno, we know like the excellence that happens here and the environment. So I think that'll be incredible. But I think it's just making sure that everything works seamlessly.
39:06Allyson Felix:And that's a big task. You know, everything from athletes having the best, you know, experience, facilities, able to have their best performances to all of the moving about of so many people coming to the city, all of it working together. What's it going to be like for you being a host rather than a participant? I think it's going to be different. You know, the one thing that I wished, you know, my whole career was to be able to have a home games. I think there's nothing, you know, like that experience. And so I'm really excited for the American athletes who are going to be able to have that home field advantage.
39:45Allyson Felix:And so I think it'll be incredible to be able to support. You know, I'm looking forward to bringing my own kids, letting them experience it. there's nothing like seeing the Olympics up close. And so for Angelinos, for, you know, so much of the world that will be here, I'm looking forward to the impact that that will have. I think there will be a lot of new fans for a lot of different sports. I think we have the ability to really leave a legacy here in Los Angeles and with the people here. And as we send people back home as well, how they will be touched and moved by the games. I get asked all the time, Alex, do you ever get back in the batting cage?
40:24And my answer is like, no, I don't. I do love the game and I miss the game. But do you ever go out on the track and just kind of do like some workouts, some sprints, plyometrics? Do you miss it?
40:36Allyson Felix:I do miss it. And I do. You know, it is what I know best. And so as far as like workout wise, I know what I'm doing on a track. And I also feel like I have to stay a bit ready. My daughter is, you know, you know, she's I'm starting to see, you know, we were at the beach the other day and you know how to raise her. I had to, like, let her know what it is. There's not going to be any winning of anybody else around here for quite some time. So I got to make sure that I'm able to, like, you know, when someone challenges me that I can deliver. I love that.
41:23All right. So we end every episode with a lightning round. It's five questions. We'll bounce it back and forth. The only advice is just the first thing that comes to your mind. So I'll start and then Alex will pick up. Are you ready?
41:35Allyson Felix:Okay. Let's do it. Okay. All right. What's the best piece of advice you've ever received on dealmaking your business? You don't have to know it all. You don't have to be the smartest person in the room. who's your dream deal-making partner? Melody Hobson. Former guest on The Deal. We'd love to see that. Which team do you want to see win a championship more than any? The Lakers. What's your hype song before you go into a big meet or negotiation? Oh, I got to start using it. Okay, so it's Beyonce, I'm a diva. Every track meet. But I like that. I think, you know, before I go into my board meetings now, I got to start playing it.
42:18That's a good one. All right. And finally, what's your advice for someone listening who wants a career like yours, fully knowing that no one's ever going to have a career exactly like yours? But what would your advice be?
42:29Allyson Felix:You don't have to wait for a perfect moment to start something, to do something different. Just do it. Put that first step forward. And if you deeply believe in something, go after it. Allison Felix, I was so excited when I knew that this was happening. It's so great to reconnect with you. Thank you for your good humor and wisdom. And it was really a treat. So thank you for your time. So nice to talk to you, Jason. So good to see you, Alex. Thank you. Thanks.
43:03The Deal is hosted by Alex Rodriguez and me, Jason Kelly. This episode was made by Anna Mazarakis, Stacey Wong, and Lizzie Phillip. Amy Keen is our editor and Will Connolly is our video editor. Our theme music is made by Blake Maples Our executive producers are Kelly LaFerriere, Ashley Honig, and Brendan Noonan Sage Bauman is the head of Bloomberg Podcast Additional support from Rachel Carnevale and Elena Sos Angeles Thanks so much for listening to The Deal If you have a minute, subscribe, rate, and review our show It'll help other listeners find us I'm Jason Kelly, see you next week
From the publisher
In this episode of The Deal, Alex Rodriguez and Jason Kelly talk about the state of baseball (including the sorry state of the Yankees) and break down Paramount's massive new deal with the UFC. Then, they speak with Allyson Felix about how she parlayed her legendary track and field career into unexpected activism in the world of business. Felix tells the hosts why it was important for her to stand up for mothers' rights in her fight against Nike and how speaking up – and changing the company's policies – ignited an entrepreneurial zeal to change the business of shoes (via her company Saysh) and talent management (her firm Always Alpha).
You can also watch this interview on the Bloomberg Podcasts YouTube page.
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