SBJ On Campus: Navigating finances and building a legacy

Dwyane Wade can still vividly remember his first big purchase after the Heat picked him fifth overall in the 2003 NBA Draft.

“Cadillac Escalade, for sure. Electric blue. Twenty-six-inch rims. Yeah, I remember,” Wade recalled with a laugh. “I already knew what I was getting before I got my check. I’d been talking about it for months. And I’m around a lot of athletes who don’t have anything who are going, ‘Yeah, that’s smart.’”

Wade now reflects it would have been far smarter to have pursued a sponsorship with a local car dealer that included a vehicle instead of buying one.

“There are just all these ways to think differently,” Wade continued. “If I could go back, I would. I would listen a bit more. I would reach out and try to find people who had been through this already so they could help me through this process.”

Wade isn’t the only one to recognize the power of firsthand athlete experience.

Kristin Lemkau, the CEO of J.P. Morgan Wealth Management, said that sort of feedback from Wade and other athletes drove home lessons about the need for more specialized wealth management resources. Now, she hopes that the input of top athletes will help the bank redesign its athlete wealth management playbook.

The newly formed JPMorganChase Athlete Council is a collection of nine athletes who will meet every few months to reflect on their own experiences and inform how JPMC approaches its athlete clients. The council will focus especially on providing resources to younger athletes.

“We know there’s a need. We know JPMorganChase can fulfill that need. And hopefully, this is the beginning of a multiyear journey where we learn as we go,” Lemkau said. “There’s going to be a playbook on how we actually go out and talk to young athletes and get them to understand a bit more about their own financial habits. But the playbook will change.”

In next week’s cover story, SBJ’s Chris Smith explores how JPMorganChase draws on the experience of sports stars to guide athlete clients on making good financial decisions.

On this week’s SBJ Sports Media Podcast, host and SBJ media reporter Austin Karp discusses record NCAA tourney viewership numbers for TNT Sports and CBS Sports. Karp also looks at PGA Tour CEO Brian Rolapp’s comments regarding a tightening media rights market, how the debut Fanatics Flag Football Classic performed and whether President Trump’s executive order regarding Army-Navy will slow the CFP’s expansion. Plus, Elle Duncan joins the pod to discuss her move to Netflix, and Brian Josephs of Sportradar digs into the data and analytics that his company is bringing to sports TV telecasts.

Did you miss the sports business stories that SBJ’s Abe Madkour, Joe Lemire, Austin Karp, Alex Silverman, Bret McCormick and David Broughton are watching? Check out this week’s episodes of Morning Buzzcast, SBJ’s most popular podcast, including exclusive coverage from SBJ’s Business of Soccer event at Mercedes-Benz Stadium in Atlanta.

In the latest episode of SBJ On Stage, “Monday Night Football” play-by-play voice Joe Buck joins Eric Stisser, VP/corporate sponsorship for the St. Louis Blues, for a candid fireside chat about broadcasting, preparation and longevity in one of the most visible roles in sports media. Recorded on Feb. 24, at SBJ’s National Sports Forum in St. Louis, the conversation gives listeners a closer look at Buck’s career, his approach to the craft, and what he’s learned from calling some of the biggest moments in sports.

For more news and video content, check out our new video home, SBJ TV, which includes the latest sports business insights straight from the experts.

The U.S. Open championship trophy Lew Sherr received when he left the United States Tennis Association sits behind his desk at Citi Field.

Nearby hangs a poster from the 2025 U.S. Open mixed doubles championship, a reimagined event that drew a star-studded field and delivered strong fan engagement and commercial results.

The mementos reflect Sherr’s 15 years at the USTA, for which he helped transform the U.S. Open into one of the most lucrative annual events in global sports.

During Sherr’s tenure as chief revenue officer (2010-22) and later CEO and executive director (2022-25), tournament revenue doubled to more than $500 million annually. Attendance topped 1 million fans in 2024.

He played a pivotal role in securing a 12-year, $2 billion media rights renewal with ESPN and implementing plans for the $800 million renovation of Arthur Ashe Stadium.

The opportunity to replicate that growth as president of business operations for the New York Mets proved too appealing to pass up. Now, Sherr says, the most important item in his office is the 2026 schedule, with an autographed photo of the 1986 World Series title team close by providing inspiration.

“I wasn’t looking to leave for another role, but this is a transformational opportunity, and perhaps my proximity being here in New York made that point even more evident to me,” Sherr told Sports Business Journal, citing the team’s iconic history, passionate fan base, investment from ownership and impending $8.1 billion Metropolitan Park casino development project as extremely attractive.

“But what drew me here more than anything else is this is one of those rare opportunities professionally where all the ingredients were in place for incredible growth and sustained success. I also feel like I left the USTA in a good position, and that was important to me.”

When Mets owner Steve Cohen sought a replacement for M. Scott Havens, who announced he was stepping down in May amid what Cohen called “differing perspectives on long-term strategy,” he only needed to look across Roosevelt Avenue.

During those visits, Cohen and Sherr built a relationship, often discussing how the U.S. Open evolved into a business powerhouse.

“[Steve] is one of the most intellectually curious individuals you’ll ever meet,” Sherr said. “We had a series of conversations over quite a lengthy window, just exchanging ideas around the U.S. Open business, which I think afforded us both an opportunity to maybe get to know one another in a way that provided a level of comfort that perhaps you don’t typically see in these kinds of situations that might have a more traditional search.”

The Mets are coming off a season in which they established Citi Field records for ballpark-related revenue ($311.4 million) and attendance (3.18 million fans), and ranked eighth in sponsorship revenue, according to SponsorUnited — providing a strong foundation for Sherr as he looks to expand the club’s business operations.

Cohen was enamored by the U.S. Open’s blue-chip roster of sponsors, first-rate facilities and premium hospitality that has resonated with New York’s corporate market. He hopes to emulate that at Citi Field, with even casual fans feeling as if each game is a special event.

And Cohen believes Sherr’s track record and mindset is exactly what the Mets need, sources familiar with the hiring process said.

“Lew shares my vision for creating an exceptional fan experience at Citi Field and making the Mets an even greater part of New York’s cultural fabric,” Cohen said in a statement.

“I am confident that Lew’s extensive experience and track record of success in driving growth and innovation at organizations across sports, entertainment and media will make him a great addition to our leadership team.”

Sherr downplayed the risk of working under the swift-moving Cohen, who has shown a penchant for overhauling his C-suite when he doesn’t get desired results.

“He has every right to be demanding, but his demands are not unreasonable,” Sherr said. “Every aspect of this role is more exciting to me than it was before I joined. The relationship with ownership has been even better than I could’ve hoped, and I came in with great expectations, too.”

The Mets’ total allocations for 2026 payroll and luxury taxes are projected to climb to nearly $480 million, according to Spotrac. It gives the club a strong base from which to build.

“We have, in many respects, doubled down on what I’d refer to as the core business,” Sherr said. “And the core business, to me, is that unwavering focus on the fan experience, leveraging data to be more effective selling tickets at the right time and being more strategic in our approach to sponsorship. I have sort of repurposed some jobs to make sure that we have all the support we need to drive those initiatives. The other part has probably been trying to establish more of a longer-term, multiyear vision for the organization.”

Metropolitan Park, on 50 acres of Citi Field parking lots, will include a Hard Rock Hotel with a casino, sportsbook, restaurants, bars, a 5,650-seat music venue and a Taste of Queens Food Hall. It also will create 25 acres of public green space, 23,000 union jobs, $1 billion in community benefits and infrastructure improvements, including a revamped, ADA-accessible 7-line train station, according to Metropolitan Park officials.

The development is projected to be finished in June 2030.

Amid construction beginning in the neighborhood, the team has created a dedicated site for fans to personalize their travel plans based on real-time transportation information. Pre-paid parking, $5 promotional codes for the Long Island Railroad and expanded ferry service will be available.

“While we’re excited about the transformation of the district, we’re also being thoughtful that it doesn’t impact our fan experience in a negative way,” Sherr said.

While Sherr noted the project is its own entity and the team is not involved in the details of the construction process, he noted his role will involve how the Mets operate within the district, which could see 10 million people coming through annually, and how that could buoy their business, while also thinking about their obligations to nearby residents and being a great partner.

“To be a part of Steve’s vision for what this area could be is incredible,” he said. “Having spent 15 years as part of this district, it’s so much bigger and more expansive and more exciting than anyone could have imagined.”

Chief Operating Officer Samantha Engelhardt described Sherr’s leadership style as focused on empowerment.

“He takes a really thoughtful approach to culture and developing people and making sure that his team is set up for success,” Engelhardt said.

Bernadette McGlade slipped quietly into the front row of the press conference room at Bon Secours Wellness Arena for a brief moment of calm.

McGlade says she hasn’t given her looming retirement much thought. But as fans began spilling into the lower bowls of the arena in Greenville, S.C., the darkened space offered the perfect place for contemplation.

“Just walking in here and bumping into just a handful of former colleagues that were on the basketball committee and folks I worked with at the ACC, I will miss that,” said McGlade, who at the end of this academic year will conclude a 45-year college athletics career that spanned from Georgia Tech to the ACC and Atlantic 10.

To understand McGlade’s impact on college sports takes more than a single story. That she held three administrative jobs over almost five decades tells at least part of the tale.

McGlade quickly climbed the ranks following a six-year tenure in Atlanta, where at age 23 she’d been hired as Georgia Tech’s first women’s basketball coach.

Georgia Tech Athletic Director Homer Rice eventually brought her on to his administrative staff full time, working alongside men’s basketball coach Bobby Cremins and baseball coach Jim Morris — the “young guns,” as they were dubbed internally.

Those in the conference office took notice.

ACC Commissioner John Swofford believed women’s basketball was an area for growth, but the league lacked the infrastructure to continue bolstering the product.

McGlade, he thought, was the perfect candidate to oversee the sport, with a caveat: Her sister, Agnes, had become the head coach at Georgia Tech.

“I sort of knew that Bernie was the person I thought would just fit that job perfectly, because of her basketball background and her administrative background at Georgia Tech,” Swofford told Sports Business Journal. “But the question mark was, ‘How could that work when her sister would be the head coach of one of our teams?’

“I just got on the phone and called all of our coaches individually in our other schools. [I asked] one question — ‘I’m very interested in hiring Bernie, and how would you feel about that in terms of her in that position at the conference office, Agnes being one of the coaches in the league that you compete against?’ Literally every single one of ’em had almost [the same] thought. They said, ‘Bernie would be fantastic. You should hire her.’

“From my perspective, I think that says an awfully lot about Bernie in terms of the trust and respect that they had for her.”

McGlade will tell you she never fixated on becoming a commissioner. She turned down the Atlantic 10 before being approached a second time. But amid interviews with the presidents, she assured those decision-makers that if hired, she would stay in the role long term.

“One of the presidents asked me, ‘You’re coming from the ACC. If you take this job, are you going to stay for longer than two years?’” McGlade recounted. “I just said, ‘Well, I hope so, and if I don’t, it’s going to be because you fired me.”

Over her 17 years in charge, the league has had its share of accomplishments. McGlade’s deftness in television negotiations saw the conference’s media deal grow from a regional agreement worth “a couple hundred thousand dollars” to the millions it’s now worth annually. That also coincided with shifting men’s basketball games from Wednesday/Saturday to Tuesday/Friday to improve exposure.

McGlade, too, helped the league bring in VCU, George Mason, Davidson and Loyola Chicago over the last 15 years; moved the conference office from Newport News, Va., to Washington, D.C.; and oversaw the Atlantic 10’s 50th anniversary celebration last year.

Nationally, McGlade’s profile included serving on the NCAA men’s basketball selection committee, as president of the Collegiate Commissioners Association and other work on the Division I Council and women’s basketball oversight committee.

“Conferences look drastically different than they did when we went into the Atlantic 10 in 2012,” VCU Athletic Director Ed McLaughlin told SBJ. “And unless you have a leader who’s confident in what he or she’s doing in terms of the product, and has a really good beat on what is happening nationally [you can’t succeed]. … She has credibility and gravitas from a national perspective, and that’s helped our league.”

As first-round action closed in Greenville, McGlade again found herself in the press room, watching as VCU celebrated an upset win over UNC. For one more day, her league would fight on into March.

Someday soon she’ll sit back and reflect on the memories. Now? The NCAA men’s basketball tournament remained front of mind.

McGlade planned to be there every step of the way.

Three questions with Atlantic 10 Commissioner Bernadette McGlade

What is your biggest concern for college sports as you retire?

“My one hope is that the transfer portal situation can get just readjusted. It’s not going to go away. I think student athletes should have the ability to transfer, be immediately eligible for sure one time during their career. But I think after that, I think there should be kind of a ‘stay in place for a year before you’re eligible.’”

What was it like to move the conference office from Newport News, Va., to Washington, D.C.?

“You know how hard it’s just to move your family in one house. Try moving an operation with 15 people and their families and all of that, and the physicals and the legal things and the taxes and all that. It’s a heavy lift. But it was important to the presidents council. They wanted me to get that finished, and I did.”

What’s it been like experiencing your last NCAA men’s basketball tournament as commissioner?

“I’ll miss the people and I’ll miss the opportunity to have a credential, be back of the house and bump into everyone. But it’s been a great run and I have nothing but appreciation for my three stops between Georgia Tech, the ACC and A-10.”

We’ve heard everyone’s concerns about jobs and internships, and we want to help. SBJ is teaming with TeamWork Online to connect students to listings for internships and entry-level positions in sports business. We’ll highlight several jobs in this newsletter and provide links to the complete lists. TeamWork Online provides the following tools for job seekers looking to find their niche in the sports business.

• Profile builder to match you to jobs 
• Job applications to your favorite sports or live event organizations 
• Face-to-face career fairs and networking events 
• Information on educational programs and universities to strengthen your skills  

Some positions that are available:

• L.A. Rams: community impact and engagement intern
• New York Jets: summer intern, premium partnership service
• Rose Bowl Stadium: communications intern
• Seattle Kraken: marketing intern (June-April)

FROM JULIUS TO ELLIE: In his Forum, SBJ Publisher and Executive Editor Abe Madkour examines the impact of the latest Prime Video documentary — “Soul Power: The Legend of the American Basketball Association.”

NEW AGE FOCUS: SBJ’s Bret McCormick reports West Virginia renovation projects are emblematic of college sports’ sudden pivot to emphasize revenue generation and fan experience.

THE BUSINESS OF SOCCER: Sir Mohamed Mansour bringing a global movement to San Diego, Clark Hunt talking about his family’s soccer history, and women’s soccer leaders discussing growth are among the many highlights from SBJ’s Business of Soccer event in Atlanta.

NBA IN SPOTLIGHT: At the NBA board of governors meeting, Commissioner Adam Silver talked tanking, expansion and WNBA leadership. SBJ’s Tom Friend has the details.

POWER PLAYERS: With the FIFA World Cup 2026 rapidly approaching, the SBJ staff compiled a list of the key leaders, advisers and decision-makers influencing every stakeholder experience at this year’s most highly anticipated event.

REWRITING THE RULES: In next week’s op-ed, Game Plan Strategies founder and CEO Amanda Guralski notes that NIL is rewriting what athletes expect from a professional career. Sports business isn’t keeping up, and neither is corporate America.

PAGE TURNERS: SBJ’s Kody Timmers builds anticipation for the 2026 World Cup with his review of several soccer books, which offer timely reading for those wishing to explore the pitch.

LIVING HISTORY: SBJ’s Terry Lefton gets nostalgic about Spalding as the company celebrates 150 years. He explores its outsized role in the history of sports in America, from baseball and basketball to hockey and football.