It's obviously wrong. NBA teams are a good counter-example. Nobody talks about the team's president/CEO/etc when prognosticating which team will be the best.
I think this may be slightly misleading because the owners of the team serve in many ways that a CEO does in a traditional company. And owners make literally billions off their teams.
> At least 44 NBA players are set to earn more than $30 million in salary for the 2023-24 season, according to ESPN, while only 36 S&P 500 CEOs earned more than $30 million in 2022, according to the AFL-CIO’s Executive Paywatch.