Maryland AD Set For Big Bonus If Terps’ Revenue Grows by $50M

When Jim Smith, a former executive with the Atlanta Braves, was hired as the University of Maryland’s athletic director in May, he wasted no time outlining his priorities.

“We’re going to focus on revenue,” Smith said during his introductory press conference on May 22. “Make no mistake about it—if we want to compete with the top schools, not just in the Big Ten but across the country, we have to increase our revenues.”

Boosting Maryland’s bottom line could also pay off handsomely for Smith personally. According to a copy of his employment agreement obtained by Sportico, the new AD will earn $1.5 million annually in base compensation, with the potential for additional performance and retention incentives.

The biggest bonus? Smith will receive a payout equal to his then-current base salary if the athletic department’s revenue in the 2029–30 exceeds the 2024–25 total by $50 million—adjusted for inflation and excluding increases in the school’s Big Ten Conference distributions. 

The exact revenue baseline won’t be known until Maryland files its FY25 financials with the NCAA early next year. For FY24, the school reported $132.8 million in total athletic revenue, placing it 12th out of 13 Big Ten public universities, according to Sportico’s college sports finance database.

Aside from Big Ten distributions, Smith’s contract language places no other restrictions on which revenue streams—such as student fees or direct institutional support—can count toward the $50 million increase goal. In response to a query, a university spokesperson said that the revenue in question “is a mutually agreed upon format based on NCAA annual reporting.”

A contract amendment signed on May 16—two days after Smith’s original agreement was inked—slightly altered the terms of his long-term incentive plan. Originally, Smith’s bonus would have been triggered if fiscal year 2030 revenue exceeded FY25 revenue by 50%.

Smith’s deal highlights how, in today’s unmistakably commercialized era of college sports, universities are explicitly prioritizing revenue over all other forms of verifiable success. As such, athletic directors are increasingly being treated like CEOs, with their take-home pay directly tied to their departments’ bottom line. The challenge: college sports accounting is an evolving but highly imperfect form of social science.

Smith succeeds former Maryland athletic director Damon Evans, who departed for SMU in March after a simmering conflict with former head men’s basketball coach Kevin Willard came to a head during the Terrapins’ NCAA Tournament run last season.

Evans had received a contract extension in August 2024, boosting his non-bonus compensation to $1.28 million, which was set to see him continue in the role through mid-2029. Willard left UMD to takeover as head coach of Villanova at the end of March; the Terps subsequently hired former Texas A&M coach Buzz Williams for a six-year deal that will pay him $4.8 million this coming season.

Prior to joining Maryland, Smith served as senior vice president for the Atlanta Braves. Before that, he served as president and CEO of the Ohio State University Alumni Association.  

In addition to his annual base salary and supplemental compensation, Smith is eligible to earn up to $45,000 annually through performance bonuses tied to booster engagement, athletic success and academic achievement.

Smith can be terminated either for cause or in the “best interests of the university.” In the latter case, the school must pay him damages equal to 18 months of salary or through the end of his contract term—whichever comes first. Conversely, if Smith voluntarily terminates the agreement early, he would owe the university the same amount in severance.