Pat Riley is considered one of the shrewdest minds in the history of basketball. Riley was a prominent head coach for the Los Angeles Lakers, winning multiple NBA championships for them during the 1980s. But it is his stint with the Miami Heat that he will be most proud of.
After a decent stint with the New York Knicks, where he led them to the 1994 NBA Finals, Riley joined the Miami Heat as the head coach in 1995. In fact, the Heat had so much faith in him that they allowed him full control of basketball operations as an incentive to land him.
Since then, Riley has overseen the Heat as a head coach and an executive. He was a big part of the decision to draft Dwyane Wade in the 2003 NBA Draft, and he went on to become the greatest player in the history of the franchise.
On top of that, he led them to an NBA championship in 2006, after taking over for Stan Van Gundy midseason. After becoming the president of basketball operations, Riley oversaw the most successful period in the history of the Miami Heat. He signed LeBron James and Chris Bosh to form a superteam in Miami.
That team went on to 4 straight NBA Finals and won 2 straight NBA championships. LeBron James brought the franchise its first-ever MVP, winning 2 during his time in South Beach.
The Heat is an immensely well-run organization, thanks in large part to Pat Riley’s intelligence. But perhaps his smartest move may have been the one that was the most lucrative for him personally.
The trademarking paid off just 5 years later. With the Chicago Bulls, led by Michael Jordan, winning 3 consecutive NBA championships, Riley earned a lot of money with merchandising houses paying him for the use of the term ‘three-peat’. He made $300,000 in royalties from these merchandise deals.
In 1988, off the back of 2 consecutive NBA championships, Riley (who was head coach of the Los Angeles Lakers) trademarked the term ‘three-peat’, a way of him guaranteeing the Lakers fanbase that they would win a third consecutive title. But they lost in the Finals that year to the Detroit Pistons.
While the move didn’t pay off the way Riley had initially hoped, it paid really well. One can only assume that he earned more money with the Bulls’ second three-peat between 1996 to 1998, and the Lakers’ three-peat between 2000-2002. While Phil Jackson did all the coaching work, Riley got all the money from it.
Riley will be hoping that soon enough, his Miami Heat will be able to three-peat. The closest the Heat came to a three-peat under Riley was in 2014 when LeBron James and the Heat went to the Finals against the Spurs, but lost in 5 games.
If Riley can build his team the way he likes, there is a good chance that a Heat three-peat happens sooner rather than later.
