Thanks to a savvy business move he made decades ago, Miami Heat team president and legendary NBA head coach Pat Riley will pocket some nice change if the Kansas City Chiefs win Super Bowl 59.
Pat Riley has no association with the NFL or the Kansas City football team whatsoever. So why might he be cheering for Patrick Mahomes and the dynastic Chiefs to defeat the Philadelphia Eagles in Super Bowl 59? It’s a rather fascinating story.
As every football fan knows, the Chiefs are looking to complete the first ever Super Bowl three-peat. The last team in the big four North American professional sports leagues (NFL, NBA, NHL and MLB) to win three straight championships was the 2000-02 Los Angeles Lakers.
As noted Finance Monthly, Pat Riley successfully filed a trademark for the term “three-peat” in 1988 and had it approved one year later. The trademark belongs to his company, Riles & Co.
Riley filed the trademark after coaching the Lakers to consecutive NBA championships in 1987 and 1988. With his team gunning for the three-peat, Riley decided to trademark the term — though they lost to the Detroit Pistons in the 1990 NBA Finals.
But here’s the catch: Because Riley trademarked the term, he know takes home nice pocket change any time a professional sports team completes the three-peat:
“Although the Lakers did not achieve a three-peat in 1989, the Chicago Bulls accomplished this feat twice in the following years. They won three consecutive championships from 1991 to 1993 and again from 1996 to 1998. Each time, Pat Riley benefited significantly. In 1993, Riles & Co. generated approximately $300,000 in licensing and royalty fees, which surged to nearly $600,000 by 1998. Riles & Co. has profited from numerous other instances of the three-peat concept, including the Lakers’ own achievement of this milestone between 2000 and 2002.”
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Saving a spot for the three-peat. #SBLIX pic.twitter.com/QNS8IM9w2l
— NFL (@NFL) January 27, 2025
So if the Chiefs take down the Eagles, Pat Riley can treat himself and his family to a fancy dinner that he obtained thanks to a genius business decision nearly 40 years ago.
Pat Riley Is Trying To Get Miami Heat Back On Track
The Heat enter tonight’s clash against the Cleveland Cavaliers with a 23-22 record. The main story there is the future of disgruntled superstar Jimmy Butler, who was again suspended by the organization for walking out of a practice.
Riley’s Heat have been a mainstay in the NBA playoff scene since 2020, but it’s long overdue for them to resolve the Butler situation once and for all.
