Robert Kraft on the NFL’s $12B Deal & Warren Buffett’s BofA Sale 08/28/24

Squawk Pod

CNBC

Business News, Investing, Business, News

4 • 494 Ratings

🗓️ 28 August 2024

⏱️ 32 minutes

🔗️ Recording | iTunes | RSS

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Summary

NFL owners have voted to allow private equity firms to invest at up to 10% of a team stake. Robert Kraft, owner of the New England Patriots, explains the long-deliberated move for the sport, and what it means for fans and players. Former National Economic Council deputy director Bharat Ramamurti once advised Sen. Elizabeth Warren (D-MA) and now advises the Harris-Walz campaign on economic issues. He discusses VP Harris’ latest “opportunity and accountability” pitch: changes to the tax code. Plus, Warren Buffett is selling more of Berkshire Hathaway’s Bank of America shares, and hotel prices are moving higher and higher. Robert Kraft 13:57 Bharat Ramamurti 24:47 In this episode: Becky Quick, @BeckyQuick Joe Kernen, @JoeSquawk Katie Kramer, @Kramer_Katie

Transcript

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0:00.0	Bring in show music please.
0:03.0	Hi, I'm C. NBC producer Katie Kramer, today on Squawk Pod.
0:09.0	The NFL welcomes private equity into the box.
0:12.0	It's the last sports league to accept PE funding.
0:15.2	Patriots owner Robert Kraft says nothing will really change for fans.
0:19.4	We didn't do anything to change the substance of what makes our league so great.
0:25.0	And one of Vice President Harris's brain trust on economic issues,
0:29.0	Barat Ramamirti explains the campaign's approach to America's revenue problem.
0:34.4	Over the last 20 years we have seen an erosion of the tax code.
0:37.8	If you go back to where we were in 2000 before the Bush tax cuts,
0:40.8	about 20% of GDP was coming in in revenue.
0:43.6	Thanks to the Bush tax cuts and the Trump tax cuts
0:45.6	were now closer to 16%.
0:47.6	All that today, plus a SpaceX launch postponed again.
0:51.8	And hotel costs are sky high,
0:54.2	so some people are getting their perks where they can.
0:56.8	Peanut M&M knockoffs.
0:58.8	I told you what you can do.
1:00.0	What?
1:00.6	You eat three of them and put it back?
1:02.0	Do, don't do that. That's so gross.
1:04.0	It's Wednesday, August 28th.
	...

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