Mark Cuban is known for his business savvy, whether owning the Dallas Mavericks, investing in groundbreaking startups or shaking things up on Shark Tank. However, one of his lesser-known genius moves came in 2011 when he purchased the trademark for the phrase "City of Champions" for just $38,000. Today, that investment continues to pay off, proving Cuban's knack for spotting opportunities others overlook.
How it all Started
The story begins with Charles Scrabis, an insurance agent from Ormond Beach, Florida, who trademarked the phrase "City of Champions" in 2010. As the Daytona Beach News-Journal reported, the idea came to him after reminiscing about Pittsburgh's glory days in 1979, when the Steelers and Pirates both won championships, earning the city the iconic nickname.
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Scrabis saw potential in owning the rights to the phrase, imagining cities with dual championship wins could cash in on merchandise bearing the slogan. After a lengthy legal battle with Hanes, which owns the Champion sportswear line, Scrabis finally secured the trademark in 2010.
Despite his efforts, Scrabis struggled to turn his vision into reality. He approached big-name brands like Modell's Sporting Goods, but the deals fell through. Many dismissed his idea as far-fetched, leaving Scrabis frustrated but undeterred.
That's when he decided to take a bold step – emailing Mark Cuban. As a Shark Tank fan, Scrabis believed Cuban might see the potential others missed.
Cuban Sees the Opportunity
To Scrabis's delight, Cuban responded. The two quickly reached a deal and according to Cuban, he bought the trademark for $38,000. While it’s a modest sum for the billionaire, Cuban knew he was onto something.
Cuban, who was born in Pittsburgh, likely felt a personal connection to the slogan. But more importantly, he understood its value. Cuban gets a cut whenever a city earns multiple championships in a single year and uses the phrase "City of Champions" on merchandise. Over the years, this has turned into a lucrative and low-effort revenue stream.
For Scrabis, selling the trademark to Cuban wasn't just about the money. It was validation for an idea many had dismissed. "I hope Cuban makes millions on the trademark because of the many no's I was given along the way," Scrabis later said.
And make millions Cuban might. The trademark's value skyrockets whenever cities like Boston, Tampa Bay or Los Angeles dominate multiple sports in a single season, creating a perfect storm for merchandise sales. “Whenever they put it on T-shirts, I got paid because whenever somebody’s winning a bunch [of titles] they call themselves the City of Champions,” Cuban said on a podcast.
Cuban's trademark purchase highlights his ability to recognize undervalued assets and patiently wait for their potential to materialize. The phrase "City of Champions" has timeless appeal and its usage is tied to rare but highly profitable events, such as championship seasons in major sports.
It's a win-win for Cuban: the $38,000 investment was a drop in the bucket for him, but it continues to deliver returns with minimal effort.
And if you have a similar idea and think Cuban might take you up on it, he says, “My email is pretty public. When I first bought the Mavs, I published my email on the jumbotron because I wanted all fans to be able to get a hold of me and email me. And then I’ve been on TV shows and given out my email for different reasons, so if you Google my email, it’s there.”
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