Mark Cuban reveals how he made money off of Tampa Bay Lightning winning back-to-back Stanley Cup championships

Modified Oct 27, 2023 13:49 GMT

When the Tampa Bay Lightning won back-to-back Stanley Cups, Mark Cuban was profiting from their success. Cuban, the billionaire owner of the Dallas Mavericks, recently revealed how he turned a trademark purchase into a profitable venture with the success of the Tampa Bay Lightning's back-to-back Stanley Cup championships.

The Tampa Bay Lightning clinched their second and third Stanley Cup in 2020 and 2021. Mark Cuban, who owns the trademark for the phrase "City of Champions," spotted a golden opportunity.

In an episode of "The Long Shot Podcast" hosted by Duncan Robinson, Cuban explained how he came to own this trademark and how it helped him make money:

"I own the trademark the 'City of Champions.' And I'm like, okay, what do you want?"

Cuban's ownership of the "City of Champions" trademark began when he purchased it for $38,000. The idea was simple but brilliant, he could license the trademark to cities celebrating their sports successes and profit from their enthusiasm.

In this case, Tampa Bay's sports scene (including Tampa Bay Lightning), which included both football and hockey triumphs, was a prime target. Every time "City of Champions" appeared on merchandise or other items, Cuban would collect royalties.

Mark Cuban said:

"Yeah, back then, for sure. And 38 grand, I bought it. So anytime a city like, I wanted Tampa Bay, because they had football and then they had hockey, like, whenever they put it on T shirts, yeah, I got paid."

"Yeah, they get a license and I get paid. And then whenever somebody's winning lunch or whatever, they call themselves the City of Champions, I'm like, 38 grand. Done."

Cuban also shared how he was contacted by the Tampa Bay Lightning and other merchandise

The ease with which people could contact him played a crucial role in these deals. Mark Cuban's public email address made it possible for interested parties to get in touch with him.

Duncan Robinson asked:

"How does somebody like that get in contact with you?"

Mark Cuban replied:

"Because my email is pretty public. Like, when I first bought the Mavs (Dallas Mavericks), 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 mean, I've been on TV shows and given out my email for different reasons. So if you Google my email, it's there."

Cuban has an approachable and open business style, which certainly seems to be working, as Forbes estimates his net worth to be $5.2 million.