The Sweet 16 are making their way to the Elite Eight, and then Final Four hits The Road to Cleveland!
Consor may have just violated some of the NCAA’s trademark rights by repeating all those commonly used tournament terms. It’s just March Madness really – oops we did it again. Yes, those phrases are trademarked by the NCAA and beware; their attorneys are known for sending out cease-and-desist letters in a timely manner
Sports bars better think twice before advertising their March Madness specials or Final Four frolics. A pub’s table reserved for the Elite Eight may not fly. And bakeries better not tempt you with Sweet 16 cupcakes.
The excitement of the basketball tournament masks the big business of college sports. Those commonly used phrases are the intellectual property of the NCAA and they have rights to their use, and any royalties from license contracts add up. Even Coors can’t get away from the reach of the NCAA. In 2002, the NCAA sued Coors due to Coors’ unauthorized ticket giveaway promotion using the phrase Final Four.
Besides all the catchy phrases, what about the huge amount of merchandise that gets sold? In the San Diego area, who is capitalizing on the SDSU fans’ desire to enjoy the Aztecs’ first time in the Sweet 16? Students, alumni and fans are buying up shirts, caps and banners; plus shelling out a small fortune to get the “cheap” seats at the Honda Center (recent rumors say nose bleed seats are going for $400!).
Here’s something to consider: we all seem to embrace the idea that the college sports program is innocent and the players are amateur, playing for the love of the sport—and possibly future pro contracts and lucrative endorsement deals. But is it fair for the NCAA and the universities to rake in profits and royalties based on the individual players’ abilities and celebrity status? Will Jimmer Fredette see any of the $55 consumers spend on buying one of his replica jerseys at the BYU bookstore? We think not. The average increase in licensing royalties earned by schools who win the title is $400,000. Again, will players see any of that? We don’t think so.
The NCAA owns 79 trademark and logo rights. Colleges will make a fortune on merchandise royalties. What will the players make? ZERO. Is that fair? Players don’t have time to find part-time jobs. Their grades may be below par since they are on the road all the time. So unless they are on par with the likes of Jimmer, players aren’t guaranteed any future earnings. Come on NCAA, share the wealth! The Road to Cleveland is not paved in gold for all.
Once Fredette gets the green light to go pro, his agents should immediately trademark his name and start those licensing negotiations. He can then begin to collect those royalties from all sorts of products—the Jimmer basketball, Jimmer shoes, Jimmer jerseys. Just be a Jimmer. And that will be Jimmer’s ticket to The Big Dance.