It's essentially a financial term. A person who has skin in the game has invested in the company they are running. The problem is that most players haven't really any desire to put their bodies on the line when they have a pre-game belief that they will lose anyway. Most colts players work out early that although they may have been stars of their first fifteens, they aren't any good and why get injured if you are going to lose.
Also the coaching set up needs to improve. Have a look at the programs from 2009 and 2010 and you will see how many have fled Norths.
Thanks Lily, I understood the term not just the context. Agree with the points and observations as to Norths in 2011. Hopefully it will improve in 2011. Should I hold my breathe?