How Jozy Altidore Moved from MLS Star to NFL Owner

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0:42Welcome back to The Deal. I'm Jason Kelly alongside Alex Rodriguez. Coming up on the show, Josie Altidore. He is one of the most impressive and successful U.S. men's soccer players of all time. He played at the club level and at the national level. And now, Alex, he is a super impressive investor. He's invested in lots of different sports, including his own. But most notably, at least to me, and I think to you, he is an owner in the NFL, in the Buffalo Bills. I cannot wait to hear what he says about that, right? Yeah, I mean, really the Tiffany of sports, the NFL, and the Bills, who's a franchise who has a lot of momentum.

1:19They have a world-class quarterback. I'm really interested to know how he got in that deal, was Arctos involved. and I'm also interested to know he's been a very, very aggressive soccer player in his career. He's also been a very aggressive investor. Yeah, it's interesting you mentioned Arctos. Arctos, of course, was one of the private equity firms that was approved to come into the NFL ownership ranks. You know, small minority stakes, they, along with Aries, Aries going into the Dolphins, Arctos going into the Bills, they were the first two to make those transactions. They were smart enough to bring in people like Josie Altidore, obviously a football fan, a football player of a different stripe, now a football owner of American football.

2:03As you say, he's had a lot of ambition as an investor. He's invested in his own sport, although on the women's side, an owner of Bay FC. Brandi Chastain, of course, was a guest on this show. He also has invested in SailGP and also invested in TGL, the golf concept. So we talk about the intersection of business, sports and culture. This is a pretty good guest for us. Indeed. I can't wait. All right. Coming up on the show, Josie Altidore.

2:39Welcome back to The Deal. I'm Jason Kelly alongside Alex Rodriguez. So thrilled to have with us Josie Altidore. He, of course, a U.S. men's national team and soccer legend, turned investor, turned team owner, turned, turned, turned. So happy to have you here, Josie. Great to see you. No, thanks for having me. Great to be here. And yeah, looking forward to the discussion. So let's start with the business of soccer because we're coming off of a really interesting summer as we talk to you and looking forward to an even bigger summer next year. A lot of it was happening. You're down in South Florida.

3:10Alex is down in South Florida. that felt like, you know, despite the fact that the final was up here in my neck of the woods in New York City over across the river at MetLife, Miami and South Florida felt like a real epicenter of all this. What was it like? How did it go from your perspective? I thought it was great. You know, I think any time, you know, European teams are able to kind of come to the United States and and one, showcase, you know, the wonderful talent they have, but to kind of mesh with the American fan base and the American game. And I think it quite frankly challenges us on the U.S.

3:43side to be better with how we kind of go about our leagues and putting together a product. So I loved it. I loved the fan engagement. I thought some of the matches were terrific. People partying in the streets, and I thought the games were entertaining. So I was a big fan of it. Would love to see it again. I really enjoyed seeing some of those European stars playing in our backyard. I mean, Alex, it definitely caught the imagination. It felt, especially as the tournament went on, it felt like people were paying more and more attention. I don't know if you felt like this, Alex, but, you know, my initial impression, I mean, I knew it was coming and it was like, okay, it's sort of happening or people showing up.

4:18But then as it sort of built, I felt like, you know, especially as Chelsea went further along and ultimately won, like there was more attention. I don't know, Alex, how did it hit your radar? Well, 100%. First of all, I think, at least from my point of view, the last five years, I've seen soccer explode here in the United States and, you know, domestically. And that particular event near the Hard Rock over there, not too far from here, I saw everybody, even, like, non-soccer fans were watching, and I thought that was pretty cool. It felt a little bit like the Super Bowl of soccer. But, again, I'm a novice at soccer, but that's how it felt down here in South Florida.

4:52And the real Super Bowl is coming next summer. I mean, and it's like Super Bowl and Super Bowl and Super Bowl. So I guess, Josie, the question we have for you is, are we ready? Like, is this going to go okay? I'll be totally honest. I'm a little bit worried. Do you think we're ready for something of this magnitude? Because 1994, I remember that tournament pretty well. And it went pretty well. But, like, soccer is a whole new thing at this stage. Do you think we can pull it off? Yeah, I think so. I mean, I think we're looking at it. That was a bit of a pause. No, because, no, look, obviously, you know, from, you know, a ticketing standpoint, all these other tidbits, right?

5:30Those are other questions. But in terms of, like, a competition and event and, you know, bringing people together, there is nobody else, right, that I think is more prepared to run and drive value in a tournament like the United States. So I think the country is ready. I think the fans are ready. I think the biggest question is, you know, how will we perform as a team, right? Will we use this moment both as a team, as an ecosystem to kind of hopefully pour gasoline on the fire once the World Cup's over and see kind of the growth of soccer explode across the country? That for me is the real question.

6:06Well, because to press you on that point a little bit, Josie, I mean, it's like, again, going back to 1994. 1994 birthed the MLS effectively, right? I mean, that was really what gave rise to that. You played in that league. You saw it, you know, sort of rise in popularity. It was a bit of a slow burn, but like, you know, it's gotten to a point where this is investable. You know, we can go as deep as you want on the economics of owning an MLS team because it's interesting. But what is that next level of sort of business success? Is it attendance? Is it sponsorship? Is it valuations? Is it all of the above?

6:39Like what will a successful outcome for the business of soccer look like coming off of this World Cup? For me, it's two things. And the first one is grassroots, right? I think a lot of times we see people, we see conversations around soccer, people say, it's the sport that kids play the most. And while that's true, it's also the sport that, you know, once kids turn 13, 14, 15, their attention goes down. So I think that'll be a big challenge. How do we keep kids in the game? How do we gamify training and do things where kids, we can meet the kids at their level where they're at in the game? I think that'll be important.

7:17And then secondly, you know, within Major League Soccer, you know, the Premier League right now in the United States, you know, how can we keep bringing in more talent? How can we ease kind of the salary cap at the same time be cost effective, but on the other flip side, have more talents like Messi join us where, you know, it becomes a must see, right? So those will be two things I have my eye on. And I'm excited. I think, you know, this is a moment that, you know, any emerging sport, this is what you dream of. And so how do we take advantage of it? So, Josie, maybe for our audience and for me, because, again, I really like soccer, but I'm still a novice.

7:52You played in about 10 teams from 2006 to 2023. Yeah. But explain to us why we know what passion is when you look at the Yankees, the Lakers, the Cowboys here in America. What is the passion like and why is it so much stronger in Europe than it is here? Can you walk us through that a little bit? Yeah, I think, you know, it's a question people ask all the time, and it's a fair question. You know, I think the passion is there. I think we are a melting pot, right? We are the most diverse country in the world. And I think when you see the Club World Cup, that passion that you're talking about, it was prevalent, right?

8:28It was plain to see for anybody. I think when you look at the European leagues and like your Real Madrid, similar to like the Dallas Cowboys, it's the history. It's the years that these teams have been around. And, you know, you mentioned the Cowboys. A lot of people forget to think about like the NFL wasn't always this juggernaut that we see today. Right. It went through a lot of growing pains and maybe had some moments where people thought, will it still be here? So, you know, now, obviously, it's probably the most thriving professional sports league, you know, we have. But that's not to say that MLS and soccer in this country can't get there.

9:01It'll take time. And again, it'll take really putting the right infrastructure into the grassroots where we're able to produce our own stars, you know, quite regularly. I think that'll be another challenge that we face there. Well, because effectively, we need more people like you to choose soccer, right? I mean, like we need to make sure that like the Josie's of the world choose soccer rather than basketball or lacrosse or, you know, any of these other emerging sports. On a recent episode of this show, we talked with Greg Olson and he's doing a lot around the youth game, as you probably know.

9:36Alex has looked at this. I've done a lot of reporting about it. What do you think about the sort of youth sports landscape? I know, I don't know if that's a place you've invested in, but I wonder, you know, putting on your hat from sort of a business lens, but also a former athlete's perspective. Like, what do you make of the sort of gratitudes from a business perspective? I think it's interesting. I mean, I think we've all seen now coming from an overhead view, kind of the youth entities that are, you know, kind of being pushed by the different PE firms. We're seeing a lot of, you know, youth leagues receive investment.

10:08And, you know, I'm a fan of it. Again, I think it has to be focused on meeting kids where they're at. giving them an opportunity that they kind of won't see in the team setting. And personally, it means a lot to me. Like I'm personally invested in child and youth training. I run a soccer tech training facility called Sogility. And our prime focus is to gamify training and focus on that retention from ages 6 to 18. So, you know, I'm a big believer that when you're able to make it fun for each and every kid, not just the very good ones, you're able to produce talents that maybe go on to play professionally, but also stay in the game, right?

10:44Be the media, the culture that makes the game great. So I'm a big believer that that starts at the youth level and, you know, meeting kids where they're at. Josie, I'm obsessed with process over results. And when I played baseball, I mean, I just loved, loved the work ethic so much, even more so than the game. I just love being prepared. But you attended IMG here in Bradenton, Florida. How instrumental was that for you in your development for your career? You know, it's a funny, it's a great question. And it's a funny one, because like, I find myself now I'm 35 to 36 in November. And, you know, I have this addiction of working, I have this addiction of meeting people, of learning.

11:24And I feel like that was birthed at IMG in a place where, you know, it was a high pressure environment, we're surrounded by the very best players at a young age. And, you know, I was in a system where, you know, they made cuts every semester. so you know right away it was ingrained in me to wake up at 6 a.m kind of get my body going eat the right food and so it's something that stayed with me until today and and as you know Alex it becomes our it becomes our DNA and how we're wired even now you know away from soccer I still have my routine I still you know yearn for conversations like this and meeting people like yourself where I can learn and and challenge myself to think differently and be better so you know that played a huge role for me.

12:04I tell people that all the time. Like, IMG, you know, the type of people that I got to interact with in terms of like, you know, sports legends at the time. We had Michael Johnson, Alex Smith, who are coming back and talking to us and helping us kind of challenge the way we think. I think it was invaluable for me. People always ask me, I went to a small school here in Miami, about 20 minutes south of the University of Miami called Westminster Christian. Tiny school, 300 people, 300 students. That was it. They always ask me, at what point did you know that you could make it or that you were different?

12:38And I often say sometime around my junior year. Same question for you. When did you know that you were different? And were you the best at IMG? When did you know that? I like to think I was. I don't know if I was at the time. I was a young boy. But I think 15, 16, like when I was 15 years old, we went to the Under-17 World Cup in Peru. I got a couple of minutes, not many, but in those minutes, you know, you saw kind of the effect I was able to have on the game. And it was kind of in that moment when you're playing these youth tournaments against some of the best youth stars in the world. And you see, man, I'm giving these guys a hard time.

13:13You know what I mean? I'm making them think about me. And it was in that moment because a lot of those players were already assigned to professional contracts. I thought, you know, maybe I can do this. And it took a lot of convincing to my parents to kind of roll that dice. But, you know, looking back, 15 years old was like the age for me where I thought, I think I have a future here if I can apply myself.

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14:17Sort of synthesizing some of the things we're talking about, Josie, you know, you have the experience of being on the national team. You play in a couple of World Cups. You know the exposure that that brings, not just for the game, but for individuals. You know, I first heard your name, you know, probably in the 2010 World Cup, you know, or first really like you were really like burned on my brain at that point. What does that feel like and how do you leverage that? You're a very smart business person. And, you know, Alex and I talk about this all the time, you know, off camera, on camera about, you know, understanding how to seize a moment.

14:52You know, how to know that like you you're going to be able to leverage this notoriety or, you know, leverage your your place in the world for something even even off the off the pitch was, as it were. Like, when did you sort of have that ambition or was it always there? It was I definitely think it was always there. I think when I saw an opportunity is, you know, when I came to play an MLS, and I think one of the perks about playing an MLS is I feel like the team owners in the MLS in the United States and American sports as a whole are way more involved. I think you see them, you interact with them at a different level.

15:31And I was actually flying to MLS All-Star in Colorado, and Larry Tannenbaum, who was our owner up in Toronto, he said, hey, why don't you guys come with me? So we flew on his plane and we had dinner on the plane and that insight, spending time with him, kind of understanding his whys and, you know, first of all, his passion for sports and building things. It really piqued my interest and it really birthed this like entrepreneurial spirit in me when we landed. I was just obsessed with trying to understand the structure of businesses and processes. And that was, I think, a big moment for me and getting to see him after that and ask follow-up questions and him being kind of such an open book in a way when he didn't have to.

16:13I think it was huge for me to kind of really feel comfortable in that sense. Jesus, this is like A-Rod Jr. here. Oh, my God. This is crazy. I mean, it's like this is your story, Alex. It's insane. We've talked about Larry Tadavon. I mean, he's really one of the best owners, not only in the NBA, but in sports. Really one of one. And I've learned a lot from Larry, as we sit on the same board with the NBA. My question is, why do you think that domestic owners are more hands-on than, say, others around the world? It's a great question. I think it's part of the culture. I think, you know, being friendly and just being personable and, you know, Larry, you know, not being a soccer guru, right, still, you know, was vulnerable.

16:55Put himself in the locker room. He asked questions if he didn't know. He was, you know, you would think he was just a guy how often you saw him in the locker room. And so I think that like that curiosity, that person, that personality, it just really shines through in a different way. Obviously, I can't speak for every market. But you know, when I played in Europe, there was a different sense. It was more of a, you know, owner player kind of relationship where I think at least for me in Toronto, I had the experience of having, you know, a teammate really, when you look at Larry Tannemom in terms of and Judy in terms of how they made sure we were comfortable, how they challenged us to think differently, to really you know, plug into different parts of the community.

17:34You know, he just always had me thinking in a good way. And like I said, I think I was really lucky to spend that time with him. It's so interesting to hear you talk about this because, you know, clearly, and again, I've had the good fortune of getting to know Alex really well and sort of the way he thinks. And, you know, I jokingly said Alex Jr., but like a lot of what you're saying, I know echoes and really mirrors Alex is, I mean, Alex, I'm speaking for you a little bit, sorry. But like, you know, your own experience in, you know, going and seeing, you know, Jerry Reinstor for Jerry Jones or, you know, going to see these owners along the way.

18:12You know, obviously Alex now is in a position where he played baseball and is now an owner of, you know, two basketball teams. You are an owner across a number of sports, but the one I really want to focus on is the other football, American football. You went into the Buffalo Bills. I know Alex has a lot of questions that comparing notes on owners, but I want to ask you, how does that deal come about? How does that land where you have the ability to buy in and why were you interested? Yeah, so my interest in sports ownership started in 2018. I'll give you the cliff notes. Real Salt Lake came up for sale.

18:51And I was signed by the MLS in my living room when I was, you know, 15 years old. So I have an okay relationship with the league office. So I sent a note in and I said, hey, what does it take, you know, to acquire a group like that? And the entire, you know, Don Garber was great with kind of saying, you know, this is something you're serious about. This is how it has to work. This is how the process works. And I was, again, immediately obsessed with it and learning. And, you know, lo and behold, a year later, I put together my own little group and I go and I start to raise capital. And so that's kind of where it started for me.

19:24Obviously, I didn't purchase that team that went to Ryan Smith at Qualtrics, but like understanding the process, understanding the buy side, what's what's needed, kind of how to put together a structure. I just became addicted, addicted to it. And so, you know, I just kept my ear to the ground. I kept making sure that I was making myself available to see different opportunities. and the Buffalo Bills and the NFL obviously opened a new world in terms of structuring some of the ownership groups. And the Bills were looking for a Toronto group as they're looking to expand in that area, which I think are primed to do in a number of ways.

20:00And being that Vince, myself, and Tracy have great ties there, it was a match made in heaven. And we haven't looked back. And that experience in itself has been... Vince Carter and Tracy McGrady. Yeah, and that in itself has been an amazing learning experience. Heard of them. I just wanted to make sure that everybody knew who we were there. Yeah, yeah, yeah. And I'd be remiss to say Tom Berger, who led our group, who's an incredible guy and businessman as well. So, you know, I think we're incredibly lucky, and I think we're incredibly excited because the amount of learning opportunities that we've already seen has been incredible.

20:35Yeah. So tell us about that. Like, you know, because obviously this is it's a fascinating moment for the NFL in particular because of some of the new ownership that's coming in. Obviously, institutional capital, the Bills were on the front edge of that as well, along with the Miami Dolphins, Arctos in the case of the Bills. So what are the dynamics? Tell us what, you know, take us inside a little bit about what are your interactions like? What do you feel like you're getting and what are they getting in terms of this sort of new structure and this new dynamic? Yeah, I think, you know, Buffalo obviously is a storied franchise, but has yet to kind of get over that hump, obviously.

21:13And I think for us, you know, being guys that have competed at the highest level of our sports and won championships, I think having and adding that pedigree definitely helped. And then again, looking at, you know, that footprint in Northern Ontario and the massive fan base that is in Toronto for the Buffalo Bills, I think played a huge part. And naturally for us, you know, being kind of staples in that community, how can we, you know, in good, smart ways kind of, you know, blend the two. And it's been so fun doing that. And already we're seeing kind of the fruits of that. And all of this to build a culture, to continue to build a community and hopefully win a Super Bowl.

21:50Right. That's the end game. Well, it looks pretty good for you guys. But, Jason, you were saying that Josie reminds you of me, but he's way ahead of me. He's only 35. And honestly, I'm so impressed, Josie. I really commend you and congrats with all you've done. And you're just getting started, I'm sure. So my question is, it took me a long time to think about building my team. How do I look at opportunities? What is my process? How does your team look like? What is your process? And how do you get the deal flow that you've been getting, not only in sports, but around the horn? You know, that's a great question.

22:27You know, I think that the biggest part for the deal flow for me was rewiring kind of who I am and how I approach conversation. And that was kind of difficult at first because, you know, you get on the call and you expect, you know, people to kind of know you. But as you know, Alex, they still want that introduction. And so I think being comfortable with kind of relearning and re-earning respect of people by making myself available, you know, traveling to different functions, you know, going to school, getting my bachelor's degree and kind of just forgetting, you know, one life and being humble while entering another.

23:02I think that was a huge benefit of mine. And I was able to kind of network and find myself in places where I'm now getting deals that I'm passionate about, but could potentially have major upside. So, you know, reworking and kind of relearning how to communicate with people and meeting people where they were at in the business world and respecting what they've done. I think, you know, it goes a long way for athletes, you know, in my opinion.