What former NBA head coach and current Miami Heat executive Pat Riley has to do with the Super Bowl is a question that has probably not crossed too many people’s minds. As it turns out, Riley owns the trademark for using “three-peat,” “3-peat,” or any version thereof. The Kansas City Chiefs will be the first NFL team to three-peat should they win against the Philadelphia Eagles in Super Bowl 59.
What Does Riley Have to Do With the Chiefs’ Winning Super Bowl 59?
Riley owns the trademark for the phrase “3-peat.” He also owns every use of the word for apparel and jewelry. He obtained trademarks for backpacks and beverages, as well.
Riley’s trademark attorney, John Aldrich, told cllct.com on Tuesday that the NFL has an agreement to use “Three Peat” if the Chiefs pull off the trifecta.
What is a trademark? A trademark is an exclusive license the federal government grants to use a specific term in a particular form of commerce to represent that company, brand, or representation of a term about the brand.
Aldrich would not say what the agreement or plans are, but a percentage of sales will generate money that will be donated to the Pat Riley Family Foundation. An NFL spokesperson told cllct.com that the deal, which is not yet formally signed, would be with the Chiefs. There would be no deal with the NFL.
The deal with the Chiefs would not be the first team Riley cashed in on the trademark. The Chicago Bulls had to come and talk to The Godfather of the NBA when they won their third straight NBA Finals in 1993.
Michael Jordan left to play baseball, providing a gap that allowed Riley to cash in again when the Bulls won three straight from 1996 to 1998.
The phrase was also used on merchandise for the New York Yankees “3-Peat” in 2000 and again when the Lakers finally did it from 2000 to 2002.
If the Chiefs do “3-peat,” they will have limited use of the trademark and will have to assign their rights to a select group of companies. Those companies would include Fanatics, New Era, Wilson, Riddell, and Wincraft.
Licensees, in general, usually pay a 10 percent to 15 percent royalty on the wholesale price of an item. Items are typically keystone, which means the retail price is double the wholesale price.
Regardless, the Riley Foundation will earn a lot of money should the Chiefs win Super Bowl 59. Perhaps Riley should trademark “four-peat” next?