Shane Griffith won an NCAA wrestling national championship this past weekend.
The interesting part?
He wore a plain black singlet, refusing to represent Stanford Athletics.
Here's why...
Time for thread 👇👇👇
1) First, some history...
Despite having a ~$30B endowment, Stanford University announced in July that they were eliminating 11 of their 36 sports teams due to “finances and competitive excellence."
As for the wrestling team?
They've decided to fight.
2) Since the decision was announced last July, the Stanford wrestling team has raised more than $12M.
That's enough money to fund the team for multiple decades, but also enough to start a women's program — fulfilling Title IX requirements.
Kevin Plank is the founder of Under Armour and worth $2 billion today.
The part you didn't know?
He didn't have $2 to his name in 1996.
This is his wild story.
Time for a thread 👇👇👇
1) Let's start in 1996...
Kevin Plank, a University of Maryland football player, became frustrated by his cotton T-shirts' inability to keep him dry & comfortable during practice.
His idea?
A sweat-wicking t-shirt designed to keep athletes cool, dry, and comfortable.
2) After graduating college, Kevin Plank used $15,000 in savings to start Under Armour.
He made the t-shirts in his grandmother's basement and drove his car up & down the east coast, selling $17,000 of inventory from the trunk of his car.
Fernando Tatis Jr. signed a $340 million deal with the San Diego Padres this week.
The interesting part?
An investment firm made ~$30M off the deal also.
The details are fascinating.
Time for a thread 👇👇👇
1) First, some history.
Outside of a few players lucky enough to receive large signing bonuses, 99% of minor league baseball players make poverty-level wages.
In 2019, the average minor league player was paid less than $10,000...in a year.
The result?
Creativity.
2) Michael Schwimer, a former Philadelphia Phillies pitcher who spent three years riding busses in the minor leagues, came up with a solution after retiring in 2016.
The greatest marketing deal in sports history happened 50 years ago.
This is the story of how two brothers became bitter rivals, built multi-billion-dollar businesses, and why a $120,000 payment will be remembered forever.
Time for a thread 👇👇👇
1) First, some history...
In 1924, German brothers Adolf and Rudolf Dassler started a shoe company from their mom's laundry room, Dassler Brothers Shoe Factory.
As the sole manufacturer of athletic shoes in Germany, the brothers knew they were onto something big.
2) Shortly after launching the company, sales took off with Adolf's invention of the screw-in spikes.
Even better?
Adolf convinced sprinter Jesse Owens to wear them at the 1936 Berlin Olympics.