GOLDEN CANE Mike Ryan provides the latest updates in Miami's AD search and talks Protect College Sports Act

CanesInSight Articles
4 min read
On the latest edition of the CanesInSight podcast, DMoney and Mike Ryan got into the latest in the Miami AD search and the weeds of the Protect College Sports Act.

Here's a sneak peek of their debate below:

DMoney: I'm hearing things are potentially moving toward a candidate, or at least a narrower list. Possibly a list of one. That was as of last week. I haven't gotten an update since, but it sounded like things were moving quickly and could come to a head soon.

Mike Ryan: You have pretty good sources, and I've since verified with sources at Miami and at NASCAR that Brian Herbst is one of the finalists for the AD job. Brian is well respected in NASCAR circles. He negotiated a big-time media rights deal there, with multiple partners, most prominently FOX, and FOX is tied to the Big Ten.

If I'm reading what Miami is leaving behind in terms of crumbs, the people steering the ship right now feel like they can handle the traditional side of this job pretty easily, given what they already had.

That's both good and bad. You get spoiled by what you think is easy, but you're hiring somebody to do the hard part, and I think they view media rights as the hard part. Look, they extended Jai Lucas, they extended Mario Cristobal, they negotiated a grand slam of a Nike deal. They're doing good things. Maybe they just want someone installed who covers the one thing they feel deficient in.

I'm told nothing is done. I think Miami is still exploring other candidates, but this guy came in late. One of the names we'd heard before was Phelps from NASCAR. Now we're hearing Herbst.

I have an idea of how that came about; in a roundabout way, it came from one of the other candidates being entertained as a possibility. That candidate may not have been fully interested himself, but he might have put Herbst's name on Miami's radar, and Miami met with him. For a name of that kind of repute in NASCAR circles to pop up this late in the process, that's something to pay attention to.

Everyone I've talked to in that world thinks pretty highly of the guy. He's younger. It's a curious move going to Miami from the job he has right now. No real Miami ties and nothing's imminent, but this is a name to add to the list, and probably one with momentum right now.

DMoney: NCAA-wise, ACC-wise, I know Miami's higher-ups are working hard from a lobbying standpoint. You saw the Florida senators come out strong against the Protect College Sports Act, front and center in this debate. What are you hearing on the political side of things? And maybe Jim Phillips' role in all this, the commissioner of the ACC.

Mike Ryan: As for Phillips, I'd heard pretty strongly that Notre Dame crafted the poison-pill language that initially would've forced any program leaving its conference to sit independent for six years. The compromise now is three years, which isn't much of a compromise considering the money you'd lose missing even one.

But here's the interesting part. The person picking up that baton and driving it now isn't Notre Dame, it's the sitting ACC commissioner, Jim Phillips. He does have Notre Dame ties, you can check his resume, but he's the one trying to make life difficult for the three or four programs in this league valuable enough that the SEC and Big Ten would come calling if the market ever opened up.

DMoney: I think the state of Florida is strong enough that if it stays united here, it's going to be tough to ignore. Fans care about this stuff. Fans are voters. People don't like seeing NFL or NBA players come back to play college ball, whatever you think about their rights to do it. People want certainty with NIL. That's the popular issue, and that's why this bill exists in the first place. But the realignment piece, that cat's already out of the bag. Stanford and Cal are in the ACC. Oregon, Rutgers and Michigan are all in the Big Ten together. Nobody's unwinding that. So I think realignment is the soft target if you're trying to appease a big state like Florida.

Watch the full conversation down below:

 

Comments (6)

Figures Phillips is tied to nutre lame, another reason not to like that guy, pfff
 
as for the leading candidate, from the SBJ 6 years ago:

“It’s never really followed a linear path for me; I didn’t expect to be selling hats to Bass Pro Shops or to be in the gambling business … but what I’ve tried to do is look for areas and subjects that I was inquisitive about and didn’t understand and try to learn them to the best of my ability,” he said.

NASCAR’s current media rights deals with Fox Sports and NBC Sports, worth a combined $820 million on average, run through 2024. Those deals are the industry’s golden goose, so long-term strategy is a constant focus for Herbst. The sanctioning body also recently launched an OTT product with NBC Sports, a development that Herbst also helped set up.

Herbst said that he often hears from NASCAR’s senior leadership with questions and comments about media strategy.

So has experience with not just Fox, but NBC too. CBS and NBC are going to become larger players pretty soon, maybe the streamers as well, because the Big XII, the best men’s basketball conference, will soon be untangling their football and basketball media rights to increase their revenue

Education: UNC-Charlotte, B.S., marketing and small business entrepreneurship
Profession I’d most like to attempt: Political reporter/writer
You would be surprised to know that I … : Have 34 first cousins ... Irish Catholics
 
Last edited:
Before anyone else asks, I did not work directly with Brian Herbst, he was in Charlotte and I worked in Daytona Beach. I dealt with him a small bit when it came to the TV revenue on the NASCAR side, but he is friends with a lot of the same people I was close to in Daytona.

Some background...the original deal that NASCAR did with Fox was done in the late 1990s, before Brian joined NASCAR. I was doing a SMALL amount of tax planning work on that as staff at Big 5 accounting firm in Orlando. My tax partner left after the deal was announced and became the CFO of NASCAR, and he was there about 10 years later when I was hired. But I know that Brian would have been involved in all of the negotiations and business operations of the media side ever since, including when NBC came BACK to NASCAR in 2014 (NBC lost the races from 2007-2013 when I worked at ISC-NASCAR).

I'm still close with the current CFO of NASCAR (Greg), who was "merely" a controller when I was there. I'm sure he has worked closely with Brian even though they are in two separate cities. I also noted another connection we have in common, a person (Craig) who was an Executive Vice President at NASCAR and a good friend of mine. He was also a HUGE Miami fan, I used to see him all the time at home games and away games.

So even though Brian has been based in Charlotte for his entire tenure at NASCAR, I'm certain that he's been down to Florida with regularity and has been exposed to a LOT of Miami chatter over the years. Our fantasy football league was legendary for trash-talking.
 
Before anyone else asks, I did not work directly with Brian Herbst, he was in Charlotte and I worked in Daytona Beach. I dealt with him a small bit when it came to the TV revenue on the NASCAR side, but he is friends with a lot of the same people I was close to in Daytona.

Some background...the original deal that NASCAR did with Fox was done in the late 1990s, before Brian joined NASCAR. I was doing a SMALL amount of tax planning work on that as staff at Big 5 accounting firm in Orlando. My tax partner left after the deal was announced and became the CFO of NASCAR, and he was there about 10 years later when I was hired. But I know that Brian would have been involved in all of the negotiations and business operations of the media side ever since, including when NBC came BACK to NASCAR in 2014 (NBC lost the races from 2007-2013 when I worked at ISC-NASCAR).

I'm still close with the current CFO of NASCAR (Greg), who was "merely" a controller when I was there. I'm sure he has worked closely with Brian even though they are in two separate cities. I also noted another connection we have in common, a person (Craig) who was an Executive Vice President at NASCAR and a good friend of mine. He was also a HUGE Miami fan, I used to see him all the time at home games and away games.

So even though Brian has been based in Charlotte for his entire tenure at NASCAR, I'm certain that he's been down to Florida with regularity and has been exposed to a LOT of Miami chatter over the years. Our fantasy football league was legendary for trash-talking.
Could you speculate what skill set and connections he brings to the role?
 
Could you speculate what skill set and connections he brings to the role?


Yes. I can do more than speculate.

As I have mentioned to a few people in the past, before 2000, all of the TV broadcast rights were owned by each track INDIVIDUALLY. Therefore, the TV networks had to do INDIVIDUAL deals with every track. Which was great for Daytona and Talladega (popular races) and not so great for Watkins Glen.

When I was working on the NASCAR engagement, NASCAR negotiated with all of the existing tracks to acquire their media rights. This was a very early version of a "grant of rights", but not as one-sided as it was when the ACC pulled their ****. Essentially, once NASCAR had the full package of media rights, they were able to negotiate AS ONE ORGANIZATION with Fox and NBC, thus getting more money, and raising the tide for ALL racetracks (who knows, maybe Daytona and Talladega lost a couple of dollars in Year 1). I was actually working on documents and PowerPoint slides in the creation of multiple new entities to hold the media rights, internet rights, etc. for all of the stuff that NASCAR was assembling.

So what does that all mean? Well, NASCAR prided itself on being the single-most brand-loyal professional sports league of all, and for the ability to sell more advertising and do more marketing activation than any other sport. Yes, the NFL still "grossed" more money on ads, but NASCAR had lots of pretty charts and graphs that showed how advertising/marketing spend in NASCAR yielded more results.

And what does THAT mean if Brian Herbst got the job? First, ON DAY ONE, I assure you, Brian would be the best Athletic Director in the ACC when it comes to being able to explain the value of the Miami brand, particularly as it relates to our TV viewership and what that is worth. **** all that "hey, people still watch F$U even though we are 2-10" nonsense. Brian would be able to articulate the demographics of Miami viewership and the earning power of Miami viewership in a way that would leave most other ACC ADs dizzy. And, more importantly, he would be able to articulate such matters to, say, any other P2 conference who might be listening.

Now let's talk a bit about "skill set" and "connections". As we all know, the ACC is just one of several properties held by ABC-ESPN. And I don't need to tell you that we are about as important to ABC-ESPN as the Miami Hurricanes are to Hard Rock Stadium. That is to say, we are the fourth priority. But when it comes to Fox and NBC, NASCAR has long been a PRIMARY property. And, yes, those numbers have been declining as some of the greatest NASCAR drivers have left the sport (Dale Jr., Jeff Gordon, Jimmy Johnson, Kurt Busch) or died (Kyle Busch). But for Brian Herbst having done this for nearly 22 years, he is VERY well connected with the sports powers-that-be at Fox and NBC. They will take his phone call, even if he is a "mere" Athletic Director at Miami. And as I've alluded to previously, his skill set is very strong, to have done THAT JOB (at ever-increasing experience levels) for nearly 22 years.

To give you an idea, the initial NASCAR TV deal (at the end of the 1990s) was over a billion per year. And as I liked to joke, NASCAR was a pimp. NASCAR took 10% and then split the other 90% with the tracks (prize purses) and the drivers/teams (guaranteed revenue per race qualified for, which is why the Michael Jordan lawsuit was such a big deal). Therefore, before I even woke up on January 1st each year, NASCAR had over $100M of revenue in the hopper. And that was BEFORE the next big areas of revenue:

Contractual revenue - this was where vendors would make 5-year deals to be "the official bank of NASCAR". Or "the official hardware company of NASCAR". Lots of steady revenue.

Merch - good lord, we had an entire DEPARTMENT that was focused on the collection of royalties. Yes, there were T-shirts and hats that ONLY said "NASCAR". But there were also T-shirts that had Dale Jr. on them, in either his firesuit or in his car. And little pennies of all those T-shirt sales would go to Amp Energy Drink or the National Guard (hood sponsor) and to Chevrolet (his car manufacturer) and Dale Jr. (his pretty face), and YES, NASCAR too (our name was on everything).

Soooo...one can see how this skill set might be handy...for a "patch" sponsor...or for NIL and merchandising in this day and age.

For the record, I'm not going to tell you what the PROFIT was each year...but because the entity was owned by just a couple of family members...as a pass-through...I had to arrange for HUGE checks to be cut every quarter to pay the IRS (and, yes, no taxes were due in Florida, thank you Florida).

So, yeah, if Brian Herbst ends up being our guy...I'd say he was over-qualified. ****, he could be the ACC Commissioner. He already lives in Charlotte...
 
Back
Top