Hall of Famer Tracy McGrady is considered one of the best shooting guards to ever play the game of basketball. His post-playing career is one of a multifaceted businessperson. T-Mac is one of the lead studio analysts on NBC’s nostalgic return to NBA coverage. And in December 2024, Tracy and his cousin Vince Carter were among 10 limited partners who joined the Buffalo Bills ownership group. Oh, and he started his own league, Ones Basketball.

In this episode of The Deal, Alex and Jason sit down with Tracy to walk through his journey from the court to the boardroom. He shares how the Bills deal fulfilled one of his longtime goals and Alex and Tracy compare notes on lessons they’ve learned in the transition from athlete to owner. Tracy also explains how the 90s revolutionized the business of basketball, the joy of doing business alongside his cousin Vince and why he is going all-in on one-on-one.

You can also watch this interview on YouTube.

See omnystudio.com/listener for privacy information.

Jess Pegula has spent her life around elite sports — both as one of the best tennis players in the world and as part of the family behind the Buffalo Bills and Buffalo Sabres. Beyond competing at the highest level, she’s become an influential voice in the future of professional tennis through her role as a player representative for the Women’s Tennis Association, giving her a rare window into both the business and competitive sides of the industry.

In this episode of The Deal, Alex Rodriguez and Jason Kelly sit down with Jess to talk about lobbying for change in professional tennis, balancing the interests of players and management, and what she’s learned from growing up around major sports franchises. Jess shares lessons from her parents Terry and Kim Pegula on leadership, team building and adapting to different personalities. She also discusses the unique culture of Buffalo sports and how her experiences in tennis and sports ownership have shaped the way she approaches business and competition.

You can also watch this interview on YouTube.

See omnystudio.com/listener for privacy information.

Alan Waxman’s Sixth Street Partners has a deep conviction in sports. Over the past five years, Alan and his firm have taken a minority stake in teams in most major professional leagues, including: the Boston Celtics, the San Antonio Spurs, the San Francisco Giants and FC Barcelona. In 2024, Sixth Street became the first investment fund to take a controlling interest in an American pro team with the NWSL’s Bay FC. And as of September 2025, Sixth Street owns a 3% stake in one of the biggest names in sports- the New England Patriots.

In this episode of The Deal, Alex and Jason sit down with Alan live at Bloomberg Invest. Alan tells the story of getting the call from Robert Kraft and why Sixth Street is one of only a handful of PE firms approved to invest in the NFL. He also shares his view on international growth opportunities in the NBA, why a historic NWSL expansion fee paid off and how far away we are from institutional capital taking a controlling stake in an NFL or NBA team. Finally, Alex and Alan give their takes on how to “fix” professional baseball.

You can also watch this interview on YouTube.

See omnystudio.com/listener for privacy information.