moneyball n. a derisive name for a sport (especially baseball) in which skill and fans seem secondary to money, esp. a sport in which teams, hoping to secure winning seasons and the resulting broadcasting and merchandising incomes, negotiate expensive contracts with desirable players. Also money ball. (source: Double-Tongued Dictionary)
Further reading
Twice a day the River Thames recedes, revealing a muddy shoreline. Hobbyists known as mudlarks stroll the surface searching for objects that have found their way into the river over the centuries, everything from ancient Roman jewelry to modern...
David says that when he was growing up in Akron, Ohio, his family referred to the grassy area between the sidewalk and street as the devil strip. He’s since moved to Nashville, Tennessee, where he doesn’t hear that term. There are lots...
With the January 2003 publication of Michael Lewis’ book Moneyball, the word has additionally come to signify a strategy of baseball management, often linked to baseball statistician Bill James and researchers at the Society for American Baseball Research, of stressing traditionally underrated (and thus cheaper) qualities such as high on-base percentage while placing less emphasis on others like speed, runs batted in, or fielding prowess.
Lewis defines “moneyball” as you explain it, but it is not a definition that exists outside of Lewis’ book or discussions related to it. I’ll keep an eye out to see if his new definition for the term will catch on in the wild, but so far, it hasn’t. (I say this as a member of SABR myself.) The last cite above is a discussion of the book, by the way.