Latest news with #JimSmith
Yahoo
a day ago
- Business
- Yahoo
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.' More from Big Ten Backs Message Portal Secrecy in Illinois FOIA Case Big Ten Cut Kevin Warren a Big Bonus-Just Not Jim Delany Big How Maryland Will Try to Keep Its Buzz in Wake of Willard Fallout 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. Best of Tennis Prize Money Tracker: Which Player Has Earned the Most in 2025? Browns Officially Get Public Money for New Stadium in Ohio Budget WNBA Franchise Valuations Ranking List: From Golden State to Atlanta
Yahoo
a day ago
- Sport
- Yahoo
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. More from Novel Finish to MLB All-Star Game Arrives Too Late to Save TV Ratings All-Star Rookie Duo Gives Mystics Stability Amid 'Uncertain' Future MLB All-Star Game Makes History With Home Run Tiebreaker 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. (You can subscribe to Sporticast through Apple, Google, Spotify, YouTube, or wherever else you get your podcasts.)
Daily Record
02-07-2025
- Automotive
- Daily Record
Ayrshire vintage vehicle parade predicted to be biggest and best yet
The annual procession of vintage trucks, tractors, buses- and more- will be on the road and heading through the region over the weekend of Saturday, July 12 and Sunday, July 13. Organisers of the Ayrshire Roadrun are predicting that this year's showpiece could be the biggest and best yet. The annual procession of vintage trucks, tractors, buses- and more- will be on the road and heading through the region over the weekend of Saturday, July 12 and Sunday, July 13. And Ayrshire Live can reveal that around 100 vehicles will take part in the convoy. You can get up close to these amazing vehicles as they'll be on display at the Barony Campus, in Cumnock, before the convoy sets off. There will be a static display at the school car park from 9am until 12noon on Saturday, July 12. Jim Smith, one of the event organisers, said: 'The Ayrshire Vintage Truck Roadrun has been going on now for around 40 years. Back in the 80's the founder, the late Bill Reid, (an Ayr Traffic Constable), started a small truck run of 20 from the parking area outside the Volvo Truck Factory, in Irvine. It would travel around Ayrshire for a couple of hours and then form a static display at the Ayrshire Vintage Tractor Machinery Club event, held at Eglington Park, Kilwinning. 'Each year new ideas would emerge to make it better and bigger and eventually became a two-day event with an overnight stay at Portpatrick. 'In recent years the numbers have been on average 100 trucks and 2025 will be no exception! 'This year we will again start from Cumnock but travel more north, initially, to keep the run fresh and interesting, so we're heading for Galston via the A76 across country to the old A77 toward Glasgow, turning left near Newton Mearns then back towards Stewarton- before cutting back and forth though Neilston, Uplawmoor, Howwood and back to its origins through Kilwinning and then more or less through the Ayrshire bypasses to take us on to the A77 towards Girvan, Ballantrae, Stranraer and Portpatrick.' The convoy will set off at 12noon on Saturday, July 12 from the Barony Campus, turning right at the roundabout and taking the third exit to the A76 towards Kilmarnock. Spectators can see the convoy on the road at the following times and destinations: Mauchline 12.10pm, Crossroads 12.15pm, Galston 12.20pm; Moscow 12.25pm, Waterside 12.30pm, Malletsheugh 12.40pm; Wild Swimmer Loch 12.45pm, Kingsford 1pm, Fullwood 1.15pm; Neilston 1.45pm, Uplawmoor 2pm, Greenacres 2.10pm; Barcraigs Reservoir 2.20pm, Beith 2.30pm; Wilson's Auctions 2.40pm; Dalgarven 2.50pm, Kilwinning 3pm, then along the A78/A77 from 3pm to 4.30pm to Portpatrick. 'These approximate times are based on the first truck,' said Jim. 'The last one could be one hour behind, and some will stop for a snack or to take in the beautiful views.' On Saturday, the convoy will be seen at Galloway Point Caravan Park and around the Main Harbour at Portpatrick from around 4.30pm. On Sunday, the convoy will follow the A75 to Castle Douglas where entrants will peel off on their respective journeys home. To find out more, or to join the Ayrshire Roadrun this year, get in touch with the event organisers on 07980 315932 or e-mail jsm@ Electronic donations can be made by the entrants at RBS, sort code 83-45-00, account 19057307, ref: Vintage Vehicle Village (Heritage Centre) Cumnock.
The Herald Scotland
06-06-2025
- The Herald Scotland
Is Calgary Beach on Mull really Scotland's best beach?
I could pick probably any beach on the West Coast, even though I'm an East Coast man myself. It really is difficult to choose but my mind keeps going back to Calgary Bay on Mull. It's been a while since I've been there. I think it was even pre-Covid I was there with the family, but it is absolutely stunning. Best Building I really like the history of the country so I love the likes of Eilean Donan Castle and I always enjoy going up the Wallace Monument. But do you know what I really like? Some of the hydro electric power stations. There are a few around the country, of course, and there has been a clever way of trying to blend them in rather than have huge industrial buildings ruining the landscape. Best Street I do like the Highlands and I've done a few gigs at the Eden Court Theatre in Inverness. The street that lines the banks of the Ness there, Bishop's Road, is one of my favourites. It's lovely to walk along towards the theatre and there are some lovely wee cafes and restaurants on both sides of the river too. Best Walk My other favourite childhood memory was the time spent up with my cousins in Elgin and this links into that. There's a walk off the Speyside Way, which follows the old railway track from Garmouth over the River Spey viaduct. It's a pretty easy walk but with amazing views. We used to always do that on our bikes as kids so it has great memories for me too. When I get the time, I'd love to do the Lairig Ghru from Braemar to Aviemore. It is a wee bit more challenging and time-consuming but it really is a spectacular cross-country walk. Best Childhood Memory I've loads of amazing childhood memories. The one I'm going to go for maybe isn't much of a surprise but it really is the memory of being up in the combine harvester alongside my dad. This might not come as much of a surprise but it really is what made me become a farmer. (Image: Jim Smith) Best View I have to say that we have some pretty amazing views from the farm and I also like to stop at the parking at the Cairn O Mount to take in the view here. But my favourite I think is the panorama from the top of the Hill of Gourdie. It takes in so much: Loch Ordie, across to Blair and Glenshee. It's the contrasts you can see from the top of that hill. Best Shop Easy one: the John Deere garage! I don't go as often as I'd like to – or can afford to. I have fond memories of going to Whitton and Brown back in the 80s. We went there every few years to change the tractor and that was exciting! Best Scottish Delicacy A Scotch pie is pretty hard to beat but, when it comes to it, I would have to go to Forfar for this one and choose a bridie. I'm not going to come down on the side of either Saddler's or McLaren's but I'll always get a bridie when I'm in the town and one of the huge ones as well. The size of your head. Best Place For Some Alone Time I started to do a few Munros but then the kids came along so I've managed to do six so far, but that's the place for an escape – up the side of any Munro. I get some peace when I'm out doing the fencing and work around the farm, but the mobile phone is always on. Here, though, is no reception so you get perfect quiet. You can see Jim at Netherton Equestrian Centre (Jim Smith & Friends) for the Perth Show, Friday June 6, headlining the first night of Patter at the Palace at Scone, June 27 to 29. The Corn Exchange, Haddington (Jim Smith and Friends) Sunday, June 29, Find him on Instagram @standupfarmer
Yahoo
06-06-2025
- Business
- Yahoo
PowerSecure Partners with Edged to Advance Eco-Friendly Data Centers Across the Country
PowerSecure, The Southern Company (NYSE:SO)'s subsidiary known for its cutting-edge energy solutions, has announced an expanded partnership with Edged, a top developer of highly efficient and sustainable data centers and digital infrastructure. Under this collaboration, PowerSecure will deliver advanced power distribution systems to support Edged's data centers across the US. A shipping tanker moving through a busy port with containers stacked in the background. This growing alliance began with the Edged Atlanta campus, which launched commercial operations in August 2024. Since then, the two companies have worked together on projects in major cities including Chicago, Columbus, Dallas, Des Moines, Kansas City, and Phoenix. So far, PowerSecure has supplied 152 megawatts of critical load capacity to Edged facilities and remains committed to supporting the company's expansion. Edged is raising the bar for sustainability in the tech sector with data centers that use no water for cooling— saving millions of gallons annually per site— and cut overhead energy consumption by 74%, all while handling intensive AI workloads in hot climates. Jim Smith, president of PowerSecure, made the following statement: 'We are proud to work with Edged in delivering customized, resilient power solutions that support the next generation of data centers. This alliance reflects the strength of our team and our shared commitment to innovation, sustainability and reliability in a rapidly evolving energy landscape. PowerSecure is proud to be a key player in addressing these challenges, delivering the reliability and resilience upon which our communities and customers have come to depend.' With over 20 years of experience, PowerSecure leads the US distributed energy infrastructure space and has developed, installed, and managed more than 2 gigawatts of microgrid capacity. Its parent company, The Southern Company (NYSE:SO), provides clean, reliable, and affordable energy to 9 million customers across the Southeast and beyond. SO has surged by nearly 8% since the start of 2025. While we acknowledge the potential of SO as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: and Disclosure. None. Sign in to access your portfolio
