Sporticast 467: What Is ‘Revenue,’ Anyway?

On the latest Sporticast episode, hosts Scott Soshnick and Eben Novy-Williams discuss some of the biggest sports business stories of the week, including a curious clause in the contract of new Maryland athletic director Jim Smith.

Smith’s contract says he’d earn a bonus equal to his base salary—the biggest bonus in his deal—if the Terrapins’ revenue increases by $50 million by the 2029-30 school year. The school told Sportico that its definition of “revenue” tracks with that used in the NCAA’s annual reporting. That format includes student fee money, government support and direct institutional support as “revenue,” meaning Smith could theoretically earn that bonus without his athletic department actually generating any more money. Maryland spent about $133 million on athletics in fiscal 2024, with $18 million coming from those subsidy categories, according to data in Sportico‘s college finance database.

Next they talk about the MLB All-Star Game. If the Home Run Derby was devoid of stars, the game itself delivered, particularly in its final moments. Tied 6-6 after the ninth inning, the contest was decided by a Swing-Off featuring three players from each team. The hosts talk about why the biggest names—like Aaron Judge and Shohei Ohtani—were also absent from that contest, but why it was so successful anyway. Namely, the players themselves seemed to care about it. That trickles down to fans.

They also discuss Juan Soto’s reaction to not making the All-Star Game. The Mets slugger, who is on a $765 million contract, lamented his exclusion by citing the money he missed out on. Soto’s contract reportedly has a $100,000 All-Star bonus.

They close by talking about the WNBA All-Star weekend, the status of the league’s ongoing labor talks, and a new case study about the New York Liberty.

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