Lisa Bhathal Merage is very busy cementing Portland’s reputation as the global epicenter of women’s sports. In partnership with her brother Alex and their RAJ Sports venture, Lisa is the owner and governor of the NWSL’s Portland Thorns and the WNBA’s Portland Fire. They came to own both teams under pretty unusual circumstances. The Thorns were in turmoil after their previous owner was ousted and RAJ Sports acquired the W’s latest expansion team after the initial deal fell through- giving them only 15 months to build a franchise from scratch. During Lisa’s tenure, the Thorns and the Fire have maintained some of the highest attendance numbers and most lucrative sponsorship deals in their respective leagues.

In this episode of The Deal, Lisa tells Alex and Jason how running the Thorns and the Fire led her to her purpose. She details the unique challenges of starting an expansion franchise in one league while also running a turnaround effort in another. She also shares how she splits her time as a governor in both the NWSL and the WNBA and how her background in fashion shapes her perspective on women’s sports.

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LIV Golf is known for doing it big: big player contracts, big worldwide events and big prize purses (an average of $460 million annually). It has also received big funding from one particular source. As of February 2026, Saudi Arabia’s Public Investment Fund (PIF) has pumped $5.3 billion into LIV. But this past April, the PIF announced that it would halt its funding of the league at the end of this year. The PIF’s exit leaves one big question mark hanging over the league: Can LIV Golf survive?

In this episode of The Deal, LIV Golf CEO Scott O’Neil joins Alex and Jason to address the skeptics. He tells us where LIV is cutting costs and how it is maintaining relationships with its big name golfers. O’Neil also explains why he is confident LIV will survive and how it will look different post-PIF. He also shares his pitch to investors and spells out the types of investors who are already interested in LIV 2.0.

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Here on The Deal we have interviewed  some of the world’s most famous athletes and some of the most powerful people in sports. But today we welcome our most important guests and probably our hosts’ biggest critics: their children.

In this special Father’s Day episode of The Deal, Alex and Jason’s kids join us to share some perspective on who their dads are off the air. First up, Natasha and Ella Rodriguez give us the inside scoop on Alex’s past as a musical theatre star and which TikTok trends he struggled to master. They also offer him some style advice and share their favorite family memories. Next, we hear from Jason’s sons, Henry and Will, about their dad’s level of Knicks fandom, who is the Josh Hart of the Kelly family and what Jason taught them about appreciating sports. Our closer is Alice Kelly, who asks Alex Rodriguez one of the most pressing questions of his career… does he like Pokémon?

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Not only have the Knicks brought New York City its first NBA title in 53 years, the team also brought their hometown a lot of money. An estimate by the New York City Economic Development Corporation puts the economic impact of the Knicks’ postseason run at $380 million. In this special NBA Finals episode of The Deal, NYC EDC Interim CEO Jeanny Pak joins Jason to break down the methodology behind the organization’s estimate and why the real number is probably much larger. She also talks about why sports are such a big economic engine for the city and how the EDC is supporting the development of Willet's Point as a sports and entertainment district. And Jeanny shares some numbers about the economic impact of sporting events like the World Cup, the MLB season and the U.S. Open.

Also in this episode, Alex and Jason marvel at the magic of the Knicks’ playoff run and discuss how the NBA can capitalize on this momentum. Plus, Alex welcomes the 2026 Knicks to New York City’s champion's circle and shares a special message for former Timberwolf Karl Anthony Towns.

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It’s the first day of the 2026 World Cup! Ticket prices, transportation, security, visas, Attorneys General investigations and water bottles are just a few of the issues threatening to distract from the play on the pitch. Now that it's time for the football to actually be played, we will finally get some answers to the biggest outstanding questions: Will FIFA’s controversial ticketing strategy mean empty seats? Will host cities actually make back their investment? Will the legacy of this World Cup be its challenges or its triumphs?

Athletic Senior Writer Henry Bushnell joins The Deal to discuss all the above and more. Henry tells Alex and Jason how FIFA may have misjudged the American market. He also shares his thoughts on why the MLS has already missed the moment to capitalize on this summer’s soccer momentum, which American city will “win” the tournament and how the 2026 World Cup will be remembered.

Want more World Cup? Tune in to Bloomberg's Big Take episode Who's Really Paying for the World Cup?

You can also watch this interview on YouTube.

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Jill Ellis has seen soccer from every angle: as an elite player, as the two-time World Cup champion coach of the U.S. Women’s National Team and as an NWSL team president. She is bringing this expertise to FIFA as the organization’s first Chief Football Officer. As one of the chief architects of the global game, she is the ultimate World Cup insider.

In this episode of The Deal, Jill tells Jason and Alex what is worrying and exciting her leading up to the kick off of the 2026 World Cup on June 11th (yes, we talk about ticket prices). She shares some facts and figures around what FIFA is expecting in terms of viewership and revenue. Jill also has her eye toward next summer’s Women’s World Cup in Brazil, telling us about a monumental deal with Netflix and why she is anticipating unprecedented interest in the event.

You can also watch this interview on YouTube.

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Hall of Famer Tracy McGrady is considered one of the best shooting guards to ever play the game of basketball. His post-playing career is one of a multifaceted businessperson. T-Mac is one of the lead studio analysts on NBC’s nostalgic return to NBA coverage. And in December 2024, Tracy and his cousin Vince Carter were among 10 limited partners who joined the Buffalo Bills ownership group. Oh, and he started his own league, Ones Basketball.

In this episode of The Deal, Alex and Jason sit down with Tracy to walk through his journey from the court to the boardroom. He shares how the Bills deal fulfilled one of his longtime goals and Alex and Tracy compare notes on lessons they’ve learned in the transition from athlete to owner. Tracy also explains how the 90s revolutionized the business of basketball, the joy of doing business alongside his cousin Vince and why he is going all-in on one-on-one.

You can also watch this interview on YouTube.

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Jess Pegula has spent her life around elite sports — both as one of the best tennis players in the world and as part of the family behind the Buffalo Bills and Buffalo Sabres. Beyond competing at the highest level, she’s become an influential voice in the future of professional tennis through her role as a player representative for the Women’s Tennis Association, giving her a rare window into both the business and competitive sides of the industry.

In this episode of The Deal, Alex Rodriguez and Jason Kelly sit down with Jess to talk about lobbying for change in professional tennis, balancing the interests of players and management, and what she’s learned from growing up around major sports franchises. Jess shares lessons from her parents Terry and Kim Pegula on leadership, team building and adapting to different personalities. She also discusses the unique culture of Buffalo sports and how her experiences in tennis and sports ownership have shaped the way she approaches business and competition.

You can also watch this interview on YouTube.

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