抄録
This paper presents an n-team sporting contest model in which each team consists of an owner and its manager. I demonstrated that sports teams can maximize a linear combination of profits and wins, while keeping the profit maximizing objective at the level of owners. In addition, I showed that revenue sharing arrangements by the league play an essential role in formulating the behavior of teams. If a league engages in revenue sharing （e.g. U.S. sports leagues）, then team objectives are more profit oriented. On the other hand, if a league lacks a redistribution mechanism （e.g. European soccer leagues）, then team objectives are more win oriented even if team owners are profit maximizers. These results are consistent with existing empirical observations of team objectives.
JEL Classification:D72, L83, D43, C72
