Tony Godsick, John McEnroe outlines business of tennis ahead of Laver Cup

Laver Cup Chair and Team8 CEO Tony Godsick and John McEnroe joined CNBC’s “Squawk Field” to debate the 2024 Laver Cup and the enterprise of tennis. The interview has been edited for size, readability and brevity.

Q: The enterprise of the Laver Cup, how a lot of it’s the sponsorship versus the tickets versus the media rights and I’m serious about the Tennis Channel and others?
Godsick: I feel proper now we have a look at the tickets and the sponsorships as our two main drivers. It was essential for us to after we began to construct the Laver Cup that we received numerous eyeballs on the occasion. … So sponsorship, we do very properly in ticket gross sales. We do very properly in media, we do properly. However when it comes to a blanket broadcast, we do nice. However when it comes to cash, I feel that’s one thing we’re going to proceed to work on. And as you see, streaming is the place it’s going to be sooner or later. … So I’d think about, form of, we favored to be a pacesetter in that space in tennis and I wouldn’t be shocked sooner or later when you see this residing unique, doubtlessly on one of many streaming platforms.

Q: John what do you consider the enterprise of tennis proper now?
McEnroe: I feel the enterprise of tennis is doing higher. … The sport shouldn’t be accessible sufficient, not inexpensive sufficient but. … And remaining factor, in some unspecified time in the future within the majors, the gamers must be in partnered with these occasions. I completely disagree with the enterprise aspect of that proper now. We’re getting bamboozled as we’ve been all by way of the years although there may be extra money then there has ever been. There must be a partnership like there may be within the NFL, NBA, NHL, and so on.

Godsick: I precise assume the enterprise of tennis is doing very well. … the U.S. Open simply had one million individuals come by way of their gates, they only did a brand new media take care of ESPN that was reported to be over $2B over a long run deal. You see all these new manufacturers coming into tennis you understand to compete with Nike and Adidas. You bought New Stability that’s killing it. You bought ON that’s killing it, you bought Hugo Boss coming into the enterprise. The style world is basically loving tennis. And then you definately have a look at the celebrities. I imply Taylor Swift was out on the U.S. Open.

Q: Do you then must have the Majors collectively in a roundabout way ought to there be a total affected league, is that this to be just like the PGA? What would the mannequin be?
McEnroe: The gamers have an affiliation, however they don’t have a union. So we have to do quite a bit higher. Trigger the game is worldwide, gamers are unfold out everywhere in the world, it’s powerful for us to agree on numerous issues. And so as to get what we wish … You most likely must boycott a Main or two, in fact. That’s the one method to present these guys we imply enterprise.

Godsick: Actually sitting down on the desk and having dialogue. Look the Grand Slams, I heard a stat not too long ago that they make 80% of the income, the 4 slams within the sport of tennis. So clearly they’re doing very properly. The gamers have to be compensated extra. … So everybody wants to sit down down on the desk and determine how we transfer this sport ahead (“Squawk Field”, CNBC, 9/19).