i'm jason kelly.os angeles made a bid to host the 2024 olympic games, but as president trump's travel ban is being fought in the courts, it is unclear how it may impact the city's chances when members vote in september. asked if the travel ban could affect olympic athletes. >> we do host a lot of competitions in the u.s.. we are proud that over the last five or six years, we have reached out and tried to host events like equestrian events events, some of the lower profile olympics. we have to make sure those are open to athletes from around the world. when we have a competition here, we courtney closely with the state department, which has been great with estimate sure athletes, no matter where they come from, have access. he had 21 iranian archers admitted to the country to take the and las vegas. scarlet: so they are allowed to come in for competition purposes, but not necessarily training purposes? state will have to ask department that. our issue is making sure we get them in for competitions. who

it is bloomberg executive editor jason kelly. great to have you in germany. great to be down the street from you. and: why don't you go ahead -- [crosstalk] jason: go ahead, matt. matt: no, i was just saying, you are there with alec macpherson. jason: i am here without macpherson. it is great to be with you. super busy day here in berlin, and a lot of talk about venture capital. the appetite for venture as part of this broader private equity class seems to be really robust right now. what is going on? alec: i think you see this from last year when they did that first venture day here, and this year, they have extended it out to a wider program with two full days on the monday and tuesday, the impacttion of that particular lead the european venture is having in the asset class. guys have been making quite a bit of money over the last nine to 10 years you have been doing this and especially of late, even in a pretty rugged world from a geopolitical perspective, do you see any worries around that going forward? alex: what we are seeing is this change in the way,

bloomberg's jason kelly is standing by with a top banker. h john cornwell from pjt partners. he is a partner there. so much money swirling around teams at this point. the valuations keep going up. there seem to be so many buyers out there. what's driving them? >> it's the ultimate content. when you look at owning a sports team, you are not only taking part in the media ecosystem which continues to grow, but you are also looking at things like data, technology. exports are driving -- sports are driving, whether it is sports data -- there's lots of things going on. there are lots of ways that you can commoditize these things. it's a very elite club. 120 teams in the united states. a lot of wealthy people. people bid up the prices. jason: and it seems like at this point, not a lot of willing sellers. they are really hanging onto these assets. don: in the old days, teams were not that profitable. becauset's happened, the tv money has gotten so good, because the collective bargaining agreements are good -- you start to say i can save money. if i h

i'm jason kelly. ever since the first olympics, the world of sports has evolved.stronger and faster and simply more talented. competition has grown, and today, the money behind the business has skyrocketed. from billion-dollar franchises to game changing technology, we are at a critical point in the industry. but is this kind of growth sustainable? we gathered leaders of the industry to find out at the bloomberg sports business summit. there seems to be a huge appetite on the part of buyers for assets in the sports world. what is driving that? >> you are seeing in the media landscape a massive disruption.

i'm jason kelly. ever since the first olympics, the world of sports has evolved. become stronger and faster and simply more talented. competition has grown, and today, the money behind the business has skyrocketed. from billion-dollar franchises to game changing technology, we are at a critical point in the industry. but is this kind of growth sustainable? we gathered leaders of the industry to find out at the bloomberg sports business summit. there seems to be a huge appetite on the part of buyers for assets in the sports world. what is driving that?

i'm jason kelly. ever since the very first olympics, the world of sports has been evolving.er, faster, more talented. today the money behind the business has skyrocketed. from billion-dollar franchises in deals to game changing technology, we are at a critical point in the industry. but is this type of growth sustainable? the leaders of the industry to find out at the bloomberg business summit. there seems to be a huge appetite on the part of buyers in the spor w

earlier today, jason kelly shot -- set down with josh harris. the principal owner of the new jersey devils, photo via 76ers and crystal palace football league. >> high single-digit across the sporting world. each sport is different but much of what is underpinning evaluations is the growth in fandom all over the world and the internationalization of sports content. sports is still one of the only things that people need to watch live. lastwatching a tape of the 76ers game is not as good as watching it live. it becomes incredibly important for media channels and cable companies, advertisers. it commands a real premium. billions of people start to watch the sports, you're reaching a much wider, global audience. that will keep driving up value of sports business is up. in some cases, particularly in the premier league and nba and nhl, you're seeing licensing, branding, the ability to sell merchandise all over the world. all of that is driving sports values up. the truth is as an investor, i try to figure out what is interesting to own. me, you make

now we turn to bloomberg news executive editor jason kelly for an exclusive interview with the ceo ofjason? going to talk with luke ellis from the man group. it is a fascinating time for hedge funds. great to be with you. you wrote a piece recently about the hedge fund industry regaining confidence. there has not been a lot of confidence. have we seen the bottom? george: i think we have had a period where active management in the hedge funds have found like difficult. they have found life difficult because they have increased competition every day. there is gradually more competition than you have to get better at what you do. we have also had an unprecedented environment or the central banks all agreed on what to do and did the same thing, they ran the governments and drove down risk premiums. has to do with capital that makes a difficult environment for asset management. whenever you think of the policies, it looks pretty clear that last year's political moves started to start the breakdown of that global consensus. that creates a good opportunity for making returns. the hedge fund

jason kelly is sitting down with the cohead of the european credit.r return conference in berlin. morning.od thank you very much stop i am here with blair and this is the super return private equity conference and there is a huge amount of congress -- talk about debt and credit. you run the business in europe looking at areas like reddit. why is there so much -- like credit. why is there so much talk right now? blair: the reason for that is that the european credit markets are undergoing a significant change that we saw in the united states maybe 15 to 20 years ago. what we have seen is a declining importance of banks in the marketplace and an increasing importance of alternative lenders. jason: when you talk about stepping in for the banks, are they gone for good? i think it is a developing change. banks have not left the market. what happened in the u.s. was the banks consolidated, served bigger clients and ultimately left middle size companies behind. what happened in europe is certain banks did go out of business, consolidated but there still are

jason kelly wrote a piece on the firm and their history from bloomberg magazine.more. what is their strategy, what do they do more? >> we did not talk about infrastructure for a long time. all of a sudden it has been this sexy topic that people talk about a cocktail party. something that was really associated with ports and toll roads, parking lots, it is kind of boring stuff, it did not require a lot of work. did, they were founded by a couple of ex bankers, if they said they are going to buy something let's get things we can fix. airports was the think they started with. >> we heard people talk about airports as well. pointhey gotten to the where they can now adapt their own strategy. >> what is interesting about airports specifically is that they have found a lot more opportunity across the seas, in the united kingdom. airports there are privately owned, here in the united states those opportunities are not there. certainly there is a lot going with hess corp., they have looked at investments and talked about the infrastructure that is going out there. so they

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. >>> chairman of the house oversight committee jason chef itz says president trump's top advisor kellynn conway made a another just mistake. conway getting heat for promoting ivanka trump's fashion line during a interview with fox and friends >> go by ivanka's stuff, i hate stopping, go get some myself today. >> ivanka's fashion line citing poor sales. president trump tweeted the store's treatment of his daughter was unfair. both republican and democratic lawmakers say conway violated a law that prohibits federal employees from using their public office foreign doors. of a product. white house press secretary said conway quote has been counseled. >>> it is 4:12. we have got some puppy problems. pet store that had to be shut down. >> still ahead on "good day philadelphia" potentially deadly difficulties conferry that forced store owners to close-up shop for good. >>> showing you a picture, not a glamour shot, it is a mug shot, what a cop says that she did in someone else's apartment, good morning, bob. >> good morning, 4:12. we are opened for business, crews did not work last night so w

[applause] governor ducey: i want to thank frank kelly for being a, and finally jason furman. i was able to first see jason and year ago, and i think we are in for a treat this morning. jason is with the peterson institute for international economics and the discussion is going to focus on the continued impact of automation and artificial intelligence on the economy and the labor market, something i think is affecting a lot of our states. he joined the international institute for senior economics. he served as the top economic advisor to president barack obama for eight years. he served on the council the divisors -- council of advisors, acting as both obama's chief adviser and a member of the president's cabinet. please welcome jason furman. [applause] jason: thank you very much, governor. is this working? it's working. i don't have anything super practical for you in terms of a civics lesson or ranking or an infrastructure bank, although all three of those seem great. at least the rankings might depend on what some of my favorite states do. i will reserve judgment until tues

jason: you make an excellent point of what can be accomplished by tillerson and kelly specifically with regards to trade. one of those is smoothing over the naturalist -- nationalist backlash. you cannot humiliate a country and you cannot underestimate national pride in mexico. it's also important to emphasize that these are two men who know mexico very well, who have deep relationships with the mexican government from secretary tillerson's time as head of exxon mobil and secretary kelly's time as head of u.s. southern command. these trade agreements are also strategic agreements. our first agreement with israel was not necessarily because of the importance of the israeli economy to the united states at the true tea to -- but the strategic imperative to the event states. paula mentioned the political environment that exist in mexico, the political environment that secretaries tillerson and kelly will see when they arrive in mexico city tonight. if you could compare the article temperament between the two countries right now to a past moment in this relationship, what would that be? is t

jason day ended up seven strokes off the lead but he made a heck of a seventh hole shot. chips in. here's your second place finisher, kelly craft. dust impartial johnson close to the lead with a 68 today. he makes a birdie at 16. third place, five stokes back. >>> jordan spieth had his shots when he needed them. birdie at 17. he is putting for a birdie at 18 and comes close. but he wins any way. >>> shades and seinfeld as the sharks meet the devils. burns runs the puck down to tie it. burns scores again, then refin with the assist. the sharks win four - win, ending their losing streak. >>> the warriors playing before a huge crowd at oracle arena. >>> we are going it continue our coverage of the breaking news coming up tonight on the 10:00 news. >>> right now a briefing is underway, dwr said the erosion that caused the concern at the spillway was that the erosion was not advantage as rapidly as they feared. they are going to try to plug the hole. the evacuations are under way innerra vil and -- in oroville and down to marysville. this is something that we are going to continue monitor. stay with ktvu fox news and our websi

press secretary sean spicer says kelly ann conway has been counseled about it, but i nose that utah senator jasont z wants more of an investigation. it seems like she was just joking. >> just trying to have a come back when she said it. >> bye is taking seriously. >> people wonder when she says she has been counseled what does that mean. >> you can't say that. you can't do that. >> is that a reprimand or hey. >> well i don't know, jason chefitz wants an investigation into this. >> we will see what happens. >> i know about counseling. >>> he is a man behind some of the best comedies in the last 25 years alex holley. >> he is in our good day studio today. >> i know him as judd appato, others say it is appatow, i have met him and can't remember what he said. artie lanning lanning is going to be with us and their friend pete holmes, stand up comic, they have a new film on hbo and they are in philadelphia tonight and on our show today. story behind this sweet little girl whose song there her hospital bed has reached millions of hearts. he wouldn'help me.itting us. i'm scared. it hurts. he told me not

we'd be putting money in better places. >> jason, there's going to be a public-private partnership bill introduced, i believe, today in congress by mike kellyania and dean heller of nevada, which combines public and private corporate infrastructure interests like this bill. do you like it? is that the best way to go? >> i haven't looked at this particular bill. it's important to understand the governments can borrow much more cheaply than private companies. to go that private route, you're already paying a higher cost in terms of your financing. the question is what benefits are you getting from it. in certain areas, i think it can help with the project selection, the project implementation. but i think it's a limited set of areas within infrastructure. the bulk of areas i don't think necessarily have the returns to justify it. >> another thing you need to remember about ppps is they only work if there's a revenue stream, which brings us back to the pricing and user fee type of approach. without that revenue stream, the ppp structure doesn't work. >> correct. and that was going to my next question. you've been in and around the political wo