Pablo Torre

There's a new law that passed.

and people are saying it only impacts Harvard and Yale, but it's not true.

There's now a larger tax on earnings made by a college endowment.

A college endowment is money that a college has to do financial aid for students.

It's money that a college has to fund its operations.

When your tax rate goes up, that's less money for

Financial aid, less money to endow a science chair.

So you have to go out and get boosters to give it, get famous alums to give it or anybody to give it.

So that's why you're reading about more of these large gifts.

It will be a professional league.

It's what I've been saying.

You'll have a payroll.

It'll be a payroll of what the revenues can withstand.

Could it be $100 million, $150 million payroll for a college team?

Of course it could.

You only want what you can have that's perfect for you.

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In fact, the only difference seems to be this imaging.

I have been tempted in restaurants just walking past tables to grab somebody's fries if they're just there.

That hasn't happened to you guys?