Charlie Gasparino | Economic Journalist Breaks Down Lakers Sell-off & Yankees' Private Equity Venture

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Yeah, I mean, I've seen that play a lot. I mean, when they force Dan Snyder to sell the Redskins, people, the people made it like, oh, they're forcing them to sell the Redskins. It's horrible. And I know Dan Snyder pretty well. He's a great guy. He got a bad rap in many ways. People felt sorry for him. Well, he bought it for like $600 million and sold it for $6 billion. So these sports franchises are pretty amazing. I want to see the paperwork on the Yankees deal because the Yankees, that to me is going to be the big cahuna. You know, just it'll show how much the Yankees are worth, which could be some astronomical thing. The guy who runs the Yankees, I don't know if you know, on the business side, is Randy Levine, one of the smartest business. Do I know him? Randy Levine is literally, you talk about gay. I taught to Randy almost every day. He was such a... He was a least gay guy in the world. I was just in his box two nights ago. Him and I become so close, so close. And I'll tell you something. To your point, this guy Rowan spent about $2.6 billion. I don't know the exact figure of what percentage of the Yankees he bought. But I guarantee you it's less than 20. And if that's the case, how much are the Yankees worth? They're worth a gazillion. I don't know. 10 billion. I don't know. I don't value these things. But the Yankees are a pretty amazing franchise record of winning. Randy's an amazing businessman. I mean, he figures out ways to put people in a lot of different way. I mean, it's a well-run organization. You know, what they don't have is maybe what they got now. I mean, remember, Steve Cohen has that hedge fund, right? I mean, that's part of his net worth. He can finance players with that. I think have an access to Apollo, which is a very good private equity firm, by the way. Very smart people there. I know the people well is a great partnership for the Yankees. So we'll see. I want to see when the deal closes. We'll find out all this stuff. It's going to be, my view, you know, it's going to be eye-popping. Be huge, yeah. And, you know, Randy Levine is also, President Trump has put him in charge. I don't know this. I broke a lot of stories on the sports reformed at college sports. That's exactly right. And even though that one day it was Urban Meyer and Tiger Woods and Nick Sabin and all these guys, a lot of those guys were there that day. But the brunt of the work is really going to Randy Levine. Yeah, Randy Levine, Milt, mostly, with, you know, it's just from Ron DeSantis as well. You know, they're doing it together. That's right, yes. I interviewed Ron DeSantis at the Milken Conference back in May a little bit about this. And, you know, listen, they got a proposal on the table. They have bipartisan legislation. Let's see where it goes. I'm sure Randy's working on this right now. He's got his hands on a lot of things. He should be mayor. He should be mayor. Be great. By the way, he was deputy mayor. You know that under Rudy. Yes, he was. And he was very good at it. So let's, I don't want to give away too much because I think when, because I don't know, to be honest with you. But I'm just like.

You know, business reporting here, when we see the fine print on this deal, it's going to be eye-popping on this Yankees deal. It's going to, you know, look for the valuation, look for, you know, what, you know, what, what, what, what, what, what, what, what, what, what, um, what, um, what, um, it will be, it will be, because it, it does, it gives them access to capital. I mean, that's the whole thing, which, you know, not that they were lackey in the, in the, in the, you know, before, but they didn't have it like the Mets had. I mean, the Mets have this. I mean, Steve Cohen's got a lot of money. He's got 20. If I checked, his hedge fund was got $20 billion. Right. I could be wrong. But it's in that junk. No, it is. That's exactly what it is. You're exactly right. So he's got that. He's got that money. By the team still sucks, but that's okay. You know, I'm an old, you know, here's the thing. I was a kid I lived in the Bronx. But I became a Mets fan. Like, for some reason, my dad liked the Mets. And, you know, I just can't watch him now. I just, you know, I can't. I'd rather watch the Yankees. He too. I turned, uh, after 59 years, I became a diehard Yankee fan. I'm in Randi Levine's box, almost every home series. I left the Mets behind. Part of my reason was because of this Zohran Mamdani relationship. And anybody who likes Zohran Mamdani, I'm not okay with. So, um, uh, I become very immature in that respect. You don't like Trump and you like Zohran Mamdani. I'm done with you. And the Yankees love Trump. I mean, what's the like about the guy that smile? I guess. I don't know, but the Mets, they love him. And Steve Cohen welcomes him to City Field, and he hugs Mr. and Mrs. Medical. I know his politics a little bit. Steve Cohen is not like some crazy Zohran Mamdani guy. Trust me on this. But what is his politics? Because we know that Levine loves Trump. Levine works with Trump. Trump is at Yankee Stadium every year. I don't see President Trump going to city field. And last I heard, I could be wrong, was that Scaramucci and Steve Cohen. They gave money to Chris Christie. So what is Steve Cohen's? That is true. That is true. Okay. Chris Christie is, and by the way, it's not the worst thing. Chris is a nice guy. He's an idiot. Be quiet. Stop that. It's an idiot. Maybe a nice guy, but he's an idiot. He's not an idiot. He's not an idiot. You disagree with him. He's not an idiot. He's a backstabbing, disloyal, fat jerk. That's what he is. You see what he did to Trump? Why did he do that the Trump? What did he do? I don't like what he did the Trump. He caused traffic on the George Washington Bridge. What did he do? He caused traffic on the George Washington Bridge. Oh, that. As somebody that used to have to take the GWB to city, from New York, from Manhattan to CNBC when I work there, that is a crime, a high crime. You know, the worst thing he's ever done? The worst thing he's the governor. The executable part. The governor of New Jersey shows up to a home football game in New Jersey for the Giants, and he sits in Jerry Jay Jones box with the Dallas Cowboys. I don't know. I like Jerry Jay Jones. You ever meet him? Aye, aye, aye, Charlie. By the way, you know what? You know what? Randy threats with Jerry Jay Jones. I know. I like Jerry Jay Jones, but not when he's playing my Giants in New Jersey. Oh, come on. He's not the reason to him really hate the guy. He should put him on his show. He won't come on.

Oh, really? He's so, believe it or not, he's too thin-skinned. Yeah, but Steve Cohen, I don't think, you know, politically is not aligned with Zohran Mamdani. Probably not. I agree with him. He's more of a, he's more of a regular Republican, not a Maga Republican. I would see that, you know. But I don't know. It just did, you know, we need more peace of love, don't we? No. No, we don't. More peace and love is going to drive you to a Muslim nation. Is that what you want? Well, that's true. You know, if we, you know, there's something, you know, you don't want to be accepting of everything, right? Every stupid thing he's supposed to be accepting of. We're a little too much on that. Right. There's a word for that. I need another cup of coffee. You come on with me. You may need two, Charlie. Yeah, you can be going. You know, I love it in the morning. You know, between you and I miss, you know, you learn for one of the best. Thank you. You know. You know, you talk about fingers and orifices early. I was one to ask me, I mean, he was so crazy. One day, he goes, what happened during Thanksgiving? Because I was that years ago. You know, I went to spend Thanksgiving. My illness was going to start in trouble because you're contankerous guys. And no, no, I, you know, hang out with my nephew and niece. And my little niece has a cat. named whiskers and I said yeah you know I'm gonna you know put whiskers in the oven and make some whiskers Parmesan and you know where he went after that but I mean that's how crazy I miss was I know I know. And you learn for it. That's why you're so successful. And my detractor is say, somebody's got to convince Rosenberg that the days of I miss are over. Really? I got a 7.4 last week. I guess they're not. I don't know. Yeah. I mean, great radio was great radio, folks. Bottom line. This story about Paramount. This is a big deal. They may be moving out of the Big Apple. Maybe California as well. This is. Maybe I'm wrong, but hundreds of billions of dollars. What is going on here? I mean, I put on both ends, just so you know, my, this is my, me speaking, both ends very low odds. I mean, these are discussions. I think it's a higher odd about California because they have so much infrastructure there. I think the CBS thing, and I don't think he really wants to do it. If he has to, he will. I mean, he might, I think he's more likely to downsize CBS here in New York, maybe sell the building. I mean, I've heard that. I've mentioned that in the story.

But I think the trend here is not the friend of these lefties. You know, I will say this. And we're talking about he meaning David Larry Ellison. David Larry Ellison is teaching a lesson to the New York City business community. All these business guys here in New York, all they do is complain about Zohran Mamdani. But they don't do anything about it. Now, I know I'm not supposed to say move out of New York and hurt New York, but that is their only pressure point. If they start putting people in other cities more of it, ramping that up, that will put pressure on him and the tax base. And that will put pressure, that will defund socialism. What he is saying, David Larry Ellison is saying, and this guy's a smart guy. He learned from his old man. The old man is Larry Ellison, co-founder of Oracle, one of the richest guys in the world, brilliant, tough guy. He is a friend of Trump. David Larry Ellison is a moderate political guy, so I don't know why they keep saying he's MAGA, and he's not turning CBS MAGIP by the way in any stretch. Although he does a Bari Weiss there, and she's not MAGA by any stretch, but she's certainly more common sense than the other networks. She's great. She's doing a great job. I don't care what anybody says. She's doing a very good job. I agree. I don't see people sitting there, oh, look at this. I mean, what's the difference between 60 minutes now and then? Oh, now they ask the White House when they do a nasty story on Trump for a comment. Oh, that's the only difference. Exactly. But this guy is teaching, this Larry Ellison guy is teaching New York business people what to do. They want to screw you. First off, this deal, there's no antitrust in this deal. I've interviewed liberal antitrust lawyers conserves. There's no antitrust. You combine two studios. Guess what? No one cares anymore because big tech is in it. There's so much competition. You've taken a number three streamer with like a number 10 in combining it. They might be able to compete with Netflix. This company together is strong enough to compete. Separate. Let's just say they were separate, right? Warner Brothers has gazillions of debt. Okay, they're going to have to sell to somebody sometime. Paramount, on the other hand, if they don't have the deep pockets of Larry Ellison, they're going to have to cut costs like. There's no tomorrow. I don't think Larry Ellison wants to throw any more money into that thing. That's if they're separate. If they're combined, they're stronger to compete against Netflix, Amazon, Apple. These guys are living in a dream world if they think separately. This is a great deal. Now, the only thing positive for Warner Brothers, if it doesn't happen, they get a breakup fee of like $7 billion. That's a lot of money. But they still, that'll give them two years time to sell. Because they still have to sell. I got to sell no matter what, right? So about two minutes ago, I want to go back to a column that you just referenced, which I enjoyed, where you talked about New York business leaders, big money guys, who bitch and complain about Zohran Mamdani, but not really. Like, I bitch and complain about Zohran Mamdani. I'm a psycho, okay? They don't really. And I think the only name you mentioned, if I'm wrong, I'm sorry, but I read it. I think the only name you mentioned was Jamie Dimon. You want to name some names?

on this show this morning. Like, I know Bill Ackman likes to tweet every now and then, but what is he really doing? What does he do? Well, I, you know, listen, Jamie Dimon is different than Bill Ack. Bill Ackman has a hedge fund, which doesn't have the biggest footprint here in New York. And I mean, it does have a footprint. I mean, it's here. But it's not like he employs hundreds of thousands of people. Jamie Dimon is much more of a sort of pillar in terms of employment in the city. My point with Jamie Dimon is that when he brought, and I like Jamie Dimon, trust me, I've known the guy for years. When he brought Zohran Mamdani in, and this is why I try to call it straight. I mean, Jamie got mad at me when I did this, but that's fine. But I try to call it straight. You know, he brought Zohran Mamdani in. He should have read him the Riot Act instead of handing him a book on public-private partnerships. And I said the same thing about David Solomon of... of Goldman, you know, and he goes to, he went to, at least, at least Maudelemy, but the J.P. Morgan headquarters, you know, Musaumman went to Gracie Mansion, I think, or, you know, went to the city, well, I can't remember. And again, you know, they, they were so, and this is right after the Ken Griffin thing where he did that stunt. Listen, I don't care that Ken Griffin has to pay a little more money in pediare tax, you know, for a second home. Um, you don't like, you don't like go in front of the guy's house and make him a symbol of this. In this environment, you know, it's very dangerous and it's stupid. And, you know, and it's what the communists do. You know, they make, they make examples out of people and parade them in front of them. I mean, this is an old communist trope. And I, and I say the same thing. So my point with Jamie Dimon is that he could have been tougher now. I guarantee you if Ackman had to sit down with Zohran Mamdani, he'd lay into him. I just know he would. Okay, good. Good. I mean, I think so, too. He's been pretty critical on Twitter, but. And so with Dan Loeb and so, you know, another hedge fund guy. I mean, they would lay into him. But that's different because, you know, you do really have many people. You do know that Anthony Scaramucci, on the other hand, has said that Zohran Mamdani's done some good things. Yeah, I don't know. You know, Anthony's my friend for many years, but what I don't understand is what's getting into his, what happens to the story? I don't know. He's gone crazy. That's why he should never work for Trump. Something happened in those 12 days. Something bad. Maybe Trump poisoned him. I don't know, because I love them too. We were very close. Him and his wife, Deirdre, with Danielle and I, and we had great dinners over at his restaurant, and I really, really liked him. And then, like you said, 11 days with Trump, and he's gone. completely bonkers since he tries to play it both ways, but he clearly has disdain for us. He does. Well, not for us, for conservatives. Well, that's what I am. What do you mean? That's what I have. Do you think Vladimir Putin might have poisoned him? Yes. That's the answer. Maybe Nelson Brad poisoned him. Nelson who?

Nelson Graham for hunted fish. Well, don't they work together at that restaurant? Yeah, well, yeah. I don't know. Delton's kind of like Mays, Maga, fighting maga, meaning, I guess. Yes, he is. I like him, too. You're so fun to talk to. I could do this, I swear to God, for four hours, but I do have Bill O'Reilly and Alan Dershowitz and Larry Cuddle. Are you going to ask them about orifices? I can't wait to hear O'Reilly talk about, you know, a finger in a certain place. Charlie, that's the beauty of this show. Not only does the audience have no idea what's coming up next? Neither do I. Oh, so you might go there. I might. I might. Just keep tuning in, Charlie. Just keep tuning in. Now you got it. Now you got me. Charlie, that's a great job this morning, buddy. I love you. Thank you so much. Great job. Anytime. Talk soon. God bless you. That is a very entertaining and brilliant boy, that guy smart. Charlie Gasparino. Thanks for listening to Sit and Friends in the Morning. You can hear Sid and Friends in the Morning, weekday mornings at six. If you like the podcast, share it with your friends, and listen anytime at wabcradio.com and download the Wabc Radio app. Hit that subscribe button on all major podcast platforms. Plus, follow WABC on social, on Instagram, TikTok, Facebook, and X. See you next time for a new episode, so you never have to wonder. What the... heck that's going on here. What's up, fools? Main of it Jay Uso here from the WWE. When it's just me between matches, it's day one-ish. And that means it's Chumba Time. With hundreds of casino-style games and new titles arriving weekly, there's always something fresh to try at Chumba Casino. The daily boots make it even more fun. And have me, about to get them, all during my downtime. Ready for a fun way to chill out and enjoy a few minutes for yourself. Let's Chumba. No purchase necessary. VGW Group, voidware prohibited by law, CTs and Cs, 21 Plus, sponsored by Chumba Casino.