It’s Just Business ep 235: A Cavalcade of Ego Crash Outs: Steve Balmer, Lane Kiffin and LIV Golf

Posted on by

September 15, 2026

Post-opening banter, we discuss:

  1. Report: Feds investigating Clippers’ Kawhi Leonard dealings
  2. No sanctions for LSU after SEC meeting on expulsion
  3. Yes, the SEC really could ‘terminate’ LSU. Here’s an inside look at the fight that could reshape college football
  4. LIV Golf files for bankruptcy protection, enters ‘next phase’
  5. Rory McIlroy predicts LIV Golf player exodus after bankruptcy protection filing
  6. NFL 2026: WHAT’S NEXT FOR THE NFL’S INVESTMENT ARM, 32 EQUITY?

Also, for those interested, here’s an AI-generated summary of the show:

[0:00–9:00] Intro & NFL international expansion — Small talk, then discussion of the NFL’s first game in Australia. Hosts predict the long-term goal is an international division (London, Paris, Madrid, Germany), but flag brutal travel logistics (only ~25hrs recovery time) and predict Mexico City as the first international “home” team.

[9:00–24:30] LSU vs. SEC eligibility showdown — LSU wanted to sign two ex-NFL players using a COVID-era eligibility loophole; the SEC threatened expulsion, and LSU backed down. Hosts note the irony of the SEC drawing a “no real pros” line while profiting from NIL, blame Lane Kiffin’s loose talk for escalating it, and predict the broader eligibility issue resurfaces in a few years.

[24:30–40:20] Clippers/Kawhi Leonard salary-cap scandal — NBA penalized the Clippers (5 draft picks, $30M fine, 5 years of audits) and suspended Steve Ballmer for a year over sham deals used to pay Kawhi Leonard around the cap. Leonard’s trade to Toronto is in limbo; federal prosecutors and the SEC are now investigating, though hosts expect the federal angle to fade while the trade drama dominates NBA news.

[40:20–57:15] LIV Golf bankruptcy — LIV filed Chapter 11 in NJ, listing $100–500M assets vs. $500M–$1B liabilities, with stars like Rahm and DeChambeau as unsecured creditors. Rory McIlroy predicted a player exodus. Hosts expect LIV to survive only as a smaller international “B league” now that the Saudi PIF (which sank ~$5B since 2022) has pulled out.

[57:15–1:04:30] NFL’s investment arm (“32 Equity”) — Owners’ ~$250M+ fund (includes a Fanatics stake) sits outside the CBA, so profits don’t have to be shared with players — essentially a legal, league-wide version of the Ballmer/Kawhi trick.

[1:04:30–end] Wrap-up — Aside about a sold-out Wrigley Field women’s volleyball game halted by humidity/condensation; sign-off heading into NFL Week 1.

0