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In an unprecedented move, sports commentator Stephen A. Smith has secured a five-year, $100 million contract with ESPN. This landmark deal, first reported by the New York Times, positions Smith as one of the highest-paid figures in sports media, drawing comparisons to top television personalities like MSNBC's Rachel Maddow.
Stephen A. Smith, renowned for his spirited commentary and even speculated as a potential presidential candidate, now holds the fourth-highest odds to be the 2028 Democratic nominee. However, this new contract likely shifts his focus away from politics, at least for now. The journey to his current success is a stark contrast to his earlier career struggles.
Back in 2011, Smith reed ESPN as a columnist and local radio host after previously being cut by the network. At that time, ESPN doubted his potential for television. It wasn't until 2013, when his long-time friend Skip Bayless pushed for him to "First Take," a debate show that has since propelled Smith to stardom.
Over a decade later, Smith's new contract solidifies him as ESPN's first $100 million investment, with an annual salary of over $20 million. This represents an $8 million increase from his previous deal in 2019.
The investment might not be as good as the idea
Despite the significant payout, ESPN faces challenges in justifying this investment. "First Take," the morning show Smith hosts, averages around 400,000 viewers daily, and the ongoing trend of cord-cutting is expected to reduce this audience significantly by 2030, the final year of Smith's deal.
This substantial investment in Smith also complicates future negotiations for other on-air talent at ESPN. Just two years ago, the network cut around 20 employees to save $30 million in salaries. This decision highlights Smith's perceived value, suggesting that ESPN views him as more valuable than those 30 former commentators combined.
In the coming years, Smith is expected to focus on expanding his production company, recently renamed Straight Shooter from Mr. SAS Productions. Sources indicate that he sees this contract as his final full-time deal with Disney, recognizing the rarity of such a lucrative agreement in today's evolving media landscape.
Ultimately, while Smith's $100 million contract is a significant milestone, it may also mark the end of an era. As the landscape of sports commentary and television shifts, Smith might be the last of his kind, a star created and elevated by television executives in a way that may no longer be feasible in the future.