• Mark Cuban bought the phrase ‘The City Of Champions’ for $38,000
• Since buying it, he gets paid a royalty every time someone uses the phrase commercially
• Pat Riley did something similar with the phrase ‘three-peat’
Mark Cuban is one of the savviest businessmen in the NBA right now. He built himself up into being a billionaire and bought the Dallas Mavericks franchise for $285 million in 2000. But he has had a lot of other big financial wins in his life, including owning the trademark to the phrase ‘The City of Champions’.
“I own the trademark to ‘The City of Champions’. $38,000 I bought it, so any time a city, like I had Tampa Bay because they had football and they had hockey, whenever they put it on t-shirts, I got paid. I can license it and get paid. Whenever somebody is winning a bunch of something, they call themselves ‘The City of Champions’. I’m like, $38,000? Done.”
Cuban has made a lot of money over his lifetime but it seems the Dallas Mavericks will always be his biggest passion. While it was a passion investment when he made it, it’s now a franchise worth $3.3 billion and employs one of the brightest young stars in the world in Luka Doncic.
Mark Cuban’s Net Worth
Mark Cuban is estimated to be worth $5.2 billion according to Forbes, which would make him one of the 600 richest men in the world. Unfortunately, the NBA also has some owners higher up on the list than him, such as new Suns owner Mat Ishbia, Cavaliers owner Dan Gilbert, and Clippers owner Steve Ballmer, just to name a few.
Most of his net worth is tied to the Mavericks, who are worth $3.3 billion themselves. They are the eighth most profitable franchise, slotting in ahead of teams like the Houston Rockets and Philadelphia 76ers but behind teams like the Brooklyn Nets and Los Angeles Clippers.
Cuban also has various other investments and financial opportunities at his disposal. He is one of the most generous businessmen on the TV show Shark Tank, where he acts as an investor and has had success with various products. Cuban is also a philanthropist, as his primary business outside the Mavericks now is running ‘Cost Plus Drugs’, a pharmacy that makes ultra-expensive medication affordable for the general public by not inflating the price as much as major pharmaceutical companies.
Pat Riley Made Lots Of Money From The Chicago Bulls After Trademarking ‘Three-Peat’
In a story similar to what Cuban did with the phrase ‘The City of Champions’, Pat Riley did with another popular sports phrase, ‘Three-Peat’. NBA fans are very familiar with this, as a three-peat is one of the rarest feats to achieve in the modern NBA.
In the last 50 years, we have seen only three three-peats, but two of them were by Michael Jordan and the Chicago Bulls. They won many titles by beating Pat Riley along the way and ended up paying him $300,000 for licensing the phrase three-peat for him.
Riley ended his coaching career without ever managing to win a three-peat. At least he made money off other teams achieving that feat, but it has to hurt that he never got to celebrate it. Unless the Miami Heat pulls off something incredible in the next few years, it’s likely he will retire without ever three-peating.
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