$2 Million Winner-Take-All Hoops Tourney as a Startup

The Basketball Tournament founder Jon Mugar discusses a host of issues related to the business of sports, including his idea for a big-money, winner-take-all basketball tournament. TBT, as the tournament has become known, has grown into a 72-team affair where the winning team (and its top fans) share in the $2 million prize. Mugar talks about the mistakes he made, lessons learned, and how the rise of over-the-top networks like ESPN+ have helped niche sports and events gain traction. He also talks about the tournament's new sponsorship with Puma, the possibility of international expansion and why he isn't doing any private equity roadshows. Mugar is a former comedic writer and producer for TV. He launched The Basketball Tournament in 2014. Since then, the prize money has reached $2 million, up from $500,000. See omnystudio.com/listener for privacy information.