Super Bowl 59 is nearly upon us, and it’s a battle between two of the NFL’s best teams. Sure, some people are dismayed that we saw the Kansas City Chiefs take on the Philadelphia Eagles two seasons ago, but some new pieces are involved this time, and that last game was pretty darn good! Whether you’re rooting for the Chiefs or the Eagles, you probably won’t have as much at stake as Pat Riley, the former NBA player and coach and current president of the Miami Heat.
Let’s jump back to 1988 for a moment. Riley was coaching the Los Angeles Lakers, who had just won championships in 1987 and 1988. One of his players, Byron Scott, used the term three-peat to rally his teammates and keep them engaged as they went for a third straight title. The phrase quickly took over Los Angeles, with Lakers fans shouting “three-peat” in support of the team.
Riley wisely saw this as a business opportunity, and in November 1988, he submitted an application to trademark the term “three-peat.” A few months later, trademark #1552980 was granted. Whenever someone wanted to use the term “three-peat” in a commercial setting—such as on a t-shirt, hat, banner, or glassware—they would owe Riley a licensing royalty.
The Lakers lost the championship in 1989, but Riley got to cash in when the Bulls had TWO separate three-peats in the 1990s. Riley reportedly earned $600,000 in licensing fees between the Bulls’ six championships, and he topped $1 million in total when the Lakers three-peated in 2002.
Carmen Mandato/Getty Images
Riley filed for another trademark in May of 2014. The Heat were going for a third consecutive title, and Riley sought a “3-peat” trademark (with the number instead of the word) for sports memorabilia and jewelry. The Heatles ultimately fell short of their goal, but Riley is still sitting on a potential goldmine.
With the Chiefs one win away from becoming the first NFL team to ever win three titles in a row, Riley just made a deal with the league to use the terms on any Super Bowl gear. No team has even been in a position to win three straight Super Bowls, so Riley has never had to figure out a deal with the NFL until now.
Sports business reporter Joe Pompliano reported that Riley will likely top $1 million in royalties should the Chiefs win a third consecutive title. That means if the Chiefs emerge victorious, Riley will have made at least $2 million in royalties from the three-peat phrase.
We hope he’s at least treated Byron Scott to a nice dinner for coming up with the phrase.