On the latest Sporticast episode, hosts Scott Soshnick and Eben Novy-Williams discuss some of the biggest sports business stories of the week, including the New York Mets signing outfielder Juan Soto to a 15-year, $765 million contract. It is by far the largest contract in U.S. sports history by total dollars, and the largest per-year deal in MLB.
The hosts talk about Steve Cohen, the team’s billionaire owner, who was a Mets fan long before he bought the team and has been vocal about his willingness to spend whatever necessary to build a championship roster. The $765 million is more than 22 different current MLB owners paid for their teams, and the total could rise to $805 million depending on how the Mets eventually handle his opt-out clause.
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The hosts discuss how the spending of a few teams, like the Mets and the defending champion Dodgers, threatens to further concentrate talent, eyeballs and wins among the sport’s elite. MLB does not have a salary cap, meaning teams are basically free to spend as much (or as little) as they’d like.
They discuss whether MLB could ever impose one. It would likely dramatically increase valuations across the league, as F1 saw recently with its cost-cap measures, but would require agreement first from MLB’s owners, then a very contentious series of negotiations with players. The current MLB CBA, which started in 2022, expires after the 2026 season.
Next the hosts talk about the College Football Playoff. The first 12-team bracket was unveiled over the weekend, and not without controversy. Alabama (9-3) was not granted a slot, with SMU (11-2) securing a spot instead. That sparked anger from Crimson Tide fans and SEC execs. Many of the sport’s biggest names, however, are in the field, including Notre Dame, Ohio State, Oregon, Georgia, Tennessee and Clemson.
The hosts close by talking about Levy, one of the largest concessionaires in U.S. sports, joining the Elevate cap table. The move comes as Oak View Group and Live Nation exit the ownership group.
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