Jess Pegula on the Business of Tennis | The Deal

Jess Pegula's Background and Family Influence

• Jess Pegula's mother had a significant influence on her, teaching her to be independent and confident, which has helped her in her tennis career and approach to the business side of the sport 10s.
• Jess Pegula is one of the world's best tennis players and is also involved in the business of tennis, with her family, the Pegulas, being highly influential in sports, owning the Buffalo Bills and the Buffalo Sabres 2m6s.
• The Charleston Open, a tournament that Jess Pegula won, has a significant business story behind it, with the tournament owner announcing equal prize money for men and women, which is not always the case in non-grand slam events 4m42s.
• The prize money for the Charleston Open is now matched with that of the ATP 500 level tournaments, setting a high standard for other tournaments to follow, and Jess Pegula hopes this will lead to more tournaments adopting equal prize money 4m42s.

Equal Prize Money and the Business of Tennis

• In terms of revenue distribution, the big four American sports leagues have a roughly 50-50 split between owners and players, but tennis does not have a similar model, with Jess Pegula advocating for players to receive a larger share, potentially up to 60-40 9m14s.
• However, achieving this goal may be challenging due to the lack of a strong player's union in tennis, with players often acting as individuals rather than collectively 9m14s.
• The concept of a strike or boycott in tennis is challenging to achieve because players are independent contractors who earn money by winning matches, and they do not receive a set salary, which motivates them to continue playing 10s.
• There have been discussions among WTA and ATP players about joining together to demand higher prize money and revenue, particularly from Grand Slams, and this unity between top players from both sides is crucial for achieving this goal 42s.
• The tennis industry lacks a traditional league structure, unlike sports like the NBA or NFL, and instead, tournaments have different business models, allowing for more flexibility and variation in events like the one organized by Ben Navarro in Charleston 2m6s.
• The evolution of equal pay in tennis is ongoing, with some WTA 1000 tournaments like Madrid, Miami, and Indian Wells offering equal prize money, but lower-level tournaments still lag behind in achieving equal pay for men and women 4m10s.
• The growth of the tennis ecosystem and the sport as a whole is dependent on the continuous improvement of tournaments, with high standards and investments in events, which can attract top players and increase revenue, ultimately leading to equal prize money 5m30s.
• The relationship between players and tournaments is critical, as players are the product, and their participation is essential for generating revenue, so tournaments must invest in their events to attract top players and increase their earnings 7m20s.

Challenges in Player Unity and Revenue Distribution

• Tennis players are able to discuss the business side of their sport openly with each other, and many are in favor of making changes, but it can be challenging to keep everyone on the same page and maintain the narrative without burning out, as players also want to focus on their careers and results 10s.
• The tennis season is extremely long, lasting around 11 months, which can be physically and mentally exhausting for players, and there are discussions about condensing the season to make it more manageable 42s.
• Changing the length of the season is a complex issue, as tournaments and travel schedules are involved, and players need time to rest and recover from injuries, so finding a solution that works for everyone is crucial 2m6s.

Leadership and Advocacy in Tennis

• Billie Jean King is a strong supporter of the players' efforts to make changes in the sport, and she has been a source of guidance and encouragement, having set a high standard for advocacy and leadership in tennis 4m6s.
• The process of becoming an advocate and leader in the tennis world involves making a conscious decision to take on a role that goes beyond just playing the sport, and it requires a willingness to listen, learn, and work with others to bring about positive change 6m6s.
• The WTA player council plays a role in representing the interests of players and working to address issues such as the length of the season and player burnout, and being part of this council has provided an opportunity to learn and grow as a leader 8m6s.

Understanding the Business Side of Tennis

• The process of understanding the business side of tennis was aided by the realization that there are two sides to the sport, a player side and a business side, which is not always black and white, and this understanding helped gain respect from other players 10s.
• Being on the player council was a starting point for learning about the business side of tennis and navigating the different perspectives of players and other stakeholders 42s.
• The lessons taken from family, particularly the mother, include the importance of managing people, adapting to different personalities, and fitting people with roles that suit their strengths, which has been helpful in navigating the business journey 2m6s.

Family Involvement in Sports Ownership

• The experience of owning a team, such as the Buffalo Bills, is a unique learning process that requires on-the-job learning, as there is no prior experience or preparation for such a role 4m6s.
• The initial reaction to the news of the parents buying the Buffalo Bills was a mix of emotions, including nervousness and excitement, as it was a significant event that "blew up our world a little bit" 6m6s.
• The mother took a strong role in the family business from the beginning, while the father viewed it as an opportunity to enjoy the fruits of his labor after working hard throughout his life 8m6s.
• The family's involvement in sports is a result of their passion for the industry, with the father enjoying sports and learning from coaches, and the mother focusing on the business side and fan experience, particularly in terms of creating a great experience for fans at games 10s.
• The family's business ventures in sports have led to opportunities for the children to be involved, with the older sister Laura taking a bigger role in the teams, and the possibility of others, including Jess, joining the family business in the future 2m6s.

Jess's Aspirations and Lessons from Sports

• Jess has always been interested in being involved in sports, having wanted to be the first female general manager in hockey at the age of 15, and now considering a potential role in the family business, although her current priority is her tennis career 2m6s.
• Being an athlete has taught Jess many lessons and given her a competitive spirit, which she hopes to channel into a different aspect of sports, such as a front-office role, once her playing career is over 2m6s.
• The family's ownership of sports teams, including the Sabres, has brought them closer together, creating a shared mission and allowing them to celebrate their passion for sports as a unit 4m30s.

The Experience of Owning a Sports Team

• The experience of owning a team can be stressful, but it is also a lot of fun, and the family tries to appreciate the special nature of their involvement in sports and the opportunity to do something together 6m0s.
• The family's teams, including the Bills, have a strong fan base, with dedicated and enthusiastic supporters, such as the "Bills mafia," which makes the experience of owning a team even more enjoyable and rewarding 8m0s.
• The fan base of the Buffalo Bills is widespread, with supporters found all over the world, and even in other countries, which is amazing, and this has been noticed while playing tournaments globally 10s.

Connecting Buffalo Sports and Tennis

• There is a connection between Buffalo sports fans and tennis, with attempts to build a bridge between the two, especially since there is virtually no tennis in Buffalo, and this is done by throwing out little references to the Bills and Sabers 42s.
• The idea of hosting a tennis tournament in a new stadium in Buffalo has been discussed, which could be interesting, but it would not be feasible in the winter due to the cold weather 2m6s.

Personal Preferences and Career Highlights

• When it comes to tennis, the preferred surface is hard court, and the favorite tennis player of all time is Roger Federer 2m6s.
• The most memorable match in the tennis career was qualifying at the US Open for the first time, which was a big mental breakthrough and a significant achievement 2m6s.
• A major storyline going into Roland-Garros is Iga Świątek's preparations, having hired a new coach who used to work with Nadal, which could make her a strong contender on clay 2m6s.
• The Grand Slam that is wanted to be won the most is the US Open, and an athlete whose business career has been inspiring is Maria Sharapova, who has been successful in both tennis and business ventures 2m6s.
• Maria Sharapova's confidence, competitiveness, and passion for fashion and business make her an inspiration, and her appearances on shows like Shark Tank and The Deal showcase her interesting and successful business career 2m6s.

Jess Pegula's Personality and Values

• Jess Pegula is described as confident, funny, and someone who walks the walk, often showing up to meetings by herself, showcasing her independence and confidence 10s.
• She has a great sense of humor, often making dry and hilarious comments that others can relate to, and is not afraid to poke fun at others, including making fun of someone's shoes 42s.
• The best piece of advice Jess has ever received came from her mom, who told her that if something is meant to be, it's up to her to make it happen, and this message of independence has been passed down to her entire family 2m6s.

Opinions on Buffalo Sports Teams

• When discussing the Buffalo Bills' chances of winning a Super Bowl, Jess believes they need to keep putting themselves in good positions and learning from their experiences, with Josh Allen being an amazing leader 4m10s.
• As for the Sabres, Jess thinks they just need to keep doing what they're doing, having made a surprising first playoff appearance in 15 years, and she's excited to see their progress 5m10s.
• Jess expresses her admiration for Josh Allen, stating that she wouldn't tell him anything different and that he's an amazing leader, with the phrase "In Josh you trust" being mentioned 6m10s.