The NCAA recently made moves to lock in rights for its “March Madness” trademark.
Quietly last October, the association paid $17.2 million to sports and entertainment marketer Intersport to stop using the term “March Madness,” which has been attached to the NCAA’s Division I men’s basketball tournament since the 1980s.
The settlement, spelled out in financial statements but unbeknown to most in the member schools and conferences, gives it sole ownership of a trademark that has been the subject of several legal disputes and challenges over the years. While large on its face, the eight-figure amount accounts for less than 2½% of the association’s $700 million-plus budget.
It’s another story about the business of college sports, coming at a time when we’re seeing scandal after scandal, mostly revolving around improper benefits like tattoos for memorabilia.
Meanwhile, the Justice Department is asking why there isn’t a playoff system in college football.
The entire issue of money and college athletics will be front and center for the foreseeable future.
Tags: business of college sports, college football playoff, college sports, college sports scandals, March Madness, March Madness trademark, money in college sports, NCAA, NCAA trademarks, protecting trademarks, sports business, sports memorabilia, trademarks