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. 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.
