pat riley’s ‘three-peat’ payday hinges on lebron winning again - bloomberg
DESCRIPTION
lawTRANSCRIPT
Pat Riley’s ‘Three-Peat’ Payday Hinges on LeBron Winning Again - Bloomberg
http://www.bloomberg.com/news/2014-04-28/pat-riley-s-three-peat-payday-hinges-on-lebron-winning-again.html?cmpid=yhoo[4/28/2014 5:39:41 PM]
Pat Riley’s ‘Three-Peat’ Payday Hinges on LeBron Winning AgainBy Scott Soshnick Apr 28, 2014 8:10 AM PT
1 Comment Email Print
Miami Heat President Pat Rileymight have more than an emotional interest in his team’s pursuitof a third straight National Basketball Associationchampionship. He may have a fnancial stake, too.
Riley’s Riles & Co. owns the trademarks “Three Peat” and“3 Peat,” the phrase commonly used to describe a sports teamthat’s won back-to-back-to-back titles.
Any entity, including NBA licensees, wanting to use theterm for a commercial purpose would have to obtain eitherpermission or pay a royalty to Riley, whose 1994 trademarkflings include bumper stickers, posters, collector plates andmugs. A 2010 fling added hats, jackets and shirts, according tothe U.S. Patent and Trademark Offce website.
The LeBron James-led Heat “is doing something with regardsto it,” John Aldrich, who along with Riley’s company is listedas the trademark’s owner, said when asked whether the franchiseor the NBA might utilize the mark. He declined to discussspecifcs. “I’m not in a position to comment on it,” saidAldrich, a partner in the Albany, New York, offce of BondSchoeneck & King PLLC.
Heat merchandise is the most popular in the NBA. Not onlydid James have the best-selling jersey at the league’s onlinestore this season, but the Heat were the top-selling NBA team onFanatics.com, the largest online retailer of offcially licensedteam merchandise. Miami is also frst in team sales during theplayoffs, Fanatics said.
Heat spokesman Tim Donovan in an e-mail said it would bepremature for team owner Micky Arison, the
Photographer: Catherine Steenkeste/NBAE via Getty Images
Miami Heat President Pat Riley, left, and player LeBron James, right, talk in... Read More
tFacebook
aTwitter
sGoogle+
rLinkedIn
Save
MORE STORIESo
Bloombergg
Pat Riley’s ‘Three-Peat’ Payday Hinges on LeBron Winning Again - Bloomberg
http://www.bloomberg.com/news/2014-04-28/pat-riley-s-three-peat-payday-hinges-on-lebron-winning-again.html?cmpid=yhoo[4/28/2014 5:39:41 PM]
billionaire chairmanof Carnival Corp., the largest cruise operator, or Riley, secondto New York Knicks President Phil Jackson in career postseasoncoaching wins, to discuss possible uses of the trademark.
Royalty Fee
“That’s a question that will only be answered if we’relucky enough to win this year,” he said.
NBA spokesman Mike Bass declined to comment on the league’spotential interest in using the trademark. Riley has in the pasthad a licensing agreement with the league.
Pamela Deese, a partner at the Washington law frm ArentFox, said a royalty in a short-term team championship matterwould probably be 10-12 percent of sales instead of a fat fee.Riley would be wise to charge a fee for the trademark, she said,because it would allow him to prove damages in case someoneinfringes on the trademark.
“It’s good to have an established price,” said Deese,whose clients include Houston Rockets guard Jeremy Lin.
James has won four Most Valuable Player awards, includingthe past two. He and Oklahoma City’s Kevin Durant are widelyconsidered the frontrunners for this season’s award.
Division Champions
The Heat fnished the regular season with 54 wins, top inthe Southeast division and second to the Indiana Pacers in theEastern Conference. Miami can sweep its frst-round playoffseries against the Bobcats 4-0 with a win tonight in Charlotte.
Riley’s initial trademark application was made in 1988,after the team he coached at the time, the Los Angeles Lakers,had won two straight championships. The phrase was registered inAugust 1989, two months after the Detroit Pistons swept theLakers in the NBA Finals, preventing Los Angeles from becomingthe frst team to win three consecutive titles since the BostonCeltics during the mid-1960s. That trademarked was canceled in2012.
His subsequent trademark applications coincided with thedominance of the Michael Jordan-led Chicago Bulls, who won threestraight titles from 1991-93, and another three straight from1996-98. The term “Three-Peat” was used on T-shirts and hatsduring the Bulls’ dynasty.
Others have applied for Heat-related trademarks, including“Heat3Peat,” “HeatPeat3,” and “The Big 3Peat,” whichreferences the team’s so-called Big Three of James, Dwyane Wadeand Chris Bosh.
To contact the reporter on this story:Scott Soshnick in New York at [email protected]
To contact the editors responsible for this story:Michael Sillup at [email protected] Beberman
Pat Riley’s ‘Three-Peat’ Payday Hinges on LeBron Winning Again - Bloomberg
http://www.bloomberg.com/news/2014-04-28/pat-riley-s-three-peat-payday-hinges-on-lebron-winning-again.html?cmpid=yhoo[4/28/2014 5:39:41 PM]
t Facebook a Twitter s Google+ r LinkedIn
From The Web by TaboolaSponsored Content
These Are The Best Credit Cards For 2014Next Advisor
Billionaires Dump Stocks, Prepare for Newsmax
Top 5 Airlines in the WorldViral Travel
9 Exercises You Must Do If You Want To Lose My Diet
7 Signs You’re About to be FiredMonster
11 Horrible Foods For Your BodyDiet.st
25 Biggest NBA Draft Busts Ever: Where Are Lost Lettermen
10 Celebs That You'll Never Guess Are The Answers
More From The Web More from Bloomberg‘Warren Buffett Indicator’ Signals Collapse in Stock Market (Moneynews)
Little Known Way to Pay Off Mortgage (Lifestyle Journal)
How Vitamin D Affects Rheumatoid Arthritis (Health Central)
7 Things To Sell On eBay For A Nice Proft (Stayathome.com)
Millennials Are Drinking So Much Wine They're Changing How it's Sold (The Huffngton Post)
Warriors to Buy SF Arena Land From Salesforce
Former Russia Today Anchor: How to Quit Like I Did
Test Driving BMW's i8: Tesla's $140K Competition
Figuring Out The Federal Reserve's Next Move
Building a Better Workforce to Build Better Apps
Pat Riley’s ‘Three-Peat’ Payday Hinges on LeBron Winning Again - Bloomberg
http://www.bloomberg.com/news/2014-04-28/pat-riley-s-three-peat-payday-hinges-on-lebron-winning-again.html?cmpid=yhoo[4/28/2014 5:39:41 PM]
d MORE CONTENT i
Trademarks Terms of Service Privacy Policy Bloomberg Careers Jobs by Indeed Made in NYC Ad Choices
©2014 Bloomberg L.P. All Rights Reserved
Bloomberg reserves the right to edit or remove comments but is under no obligation to do so, or to explain individual moderation decisions.
2 Comments
Bloomberg Logind
Sort by Newest
Share
Join the discussion…
• Reply •
Muscle man • 6 minutes ago
I never buy anything of any team because I don't care to be a walking Billboard for any team.
Bruce Wayne • 2 hours ago
Lebron and the Heat will win, because the Nets and Pacers are going to be knocked out th 1 t d L b ill l T t i th 2 d d d th H k i th 3 d
Favorite
Share ›