Is it because small market refers to the size of where they’re located? And the revenue wouldn’t justify, as a businessman, to pay out these large deals?
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Small market refers to the revenue able to be generated by the team – through broadcast rights, ticket sales, concessions, advertising, merchandising, etc.
Small market teams are usually in small cities (Cincinnati, Cleveland, Buffalo, Kansas City, Winnipeg, etc.) and by definition don’t generate revenue necessary to support a large team payroll.
The owner could just float the teams payroll out of their own personal money, but most billionaires didn’t get that way by pissing money down the drain like that.
It’s often more profitable (especially in leagues with revenue- sharing) to be at league minimum salary.
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