Ryan Caswell: Yes. So the — I think on the business side and the commercial side, we’ve done really well. I think we are — as we’ve talked about before, we’re a bit constrained by just overall stadium. But Jim and the team have done a great job of increasing — I’d say the 3 things, that there is ticketing, there’s what I’ll call hospitality, and then there’s basically kind of broader sponsorship in commercial. And so in each of those categories we’re up a good amount. The ticketing were up probably north of 10%. And that’s just on — you obviously can’t — stadium on the fixed size, so that’s just on price increases. On hospitality, I would guess we’re probably up close to 40% there. That’s a combination of both price increases as well as converting parts of the stadiums that were non-revenue generating areas to revenue generating areas.
And in sponsorship, we’re up a similar amount. And that’s really from both pushing price on the existing sponsors as well as basically going out and finding new sponsors. They’ve changed the model around. How they’re looking at the regional sponsors versus more of national or international sponsors and where they’re getting signage within the stadium. So the team has done a really good job around all of that. So we’re very happy there. And so we feel good about that part of the business, and we’ll look — we hope the on-field performance follows suit.
John Campbell: Okay. That’s helpful. And then you’re kind of balancing — you’re almost tipping the line on a majority of investment there, 48% now. Moving forward, I don’t know if you guys have thinned or pegged out kind of an investment cycle or if you’re looking to inject further capital over the next couple of years, but are we assuming that — are you guys assuming that you’ll continue to have a minority position any time you raise from here you’ll do it alongside others, and you’ll kind of keep that minority position?
Richard Massey: No, we’re not planning on retaining this percentage necessarily. It’s not hardcoded. And not that — and we’re not sure the don’t be any more need for capital. And we went into this with sort of 5- to 7-year investment horizon. So we’re still pretty early on in it. But our theory was that we would run it, we would get it, we would improve it, we’d run it and we’d sell it.
Operator: This concludes our question-and-answer session. I would like to turn the conference back over to Rick Massey for any closing remarks.
Richard Massey: Thanks a lot for joining our call. You’re all welcome to set up a side call with Bryan, Ryan, me, any of the above in the subsequent days. We have quite a few calls lined up, but we could always take a few more. So feel free to reach out to us. Thanks for your interest in Cannae Holdings.
Operator: The conference has now concluded. Thank you for attending today’s presentation, and you may now disconnect.
