Paying It Forward

Steve Schanwald (‘77) couldn’t wait to walk from Ellicott Hall and enter the bowels of Cole Field House to learn and contribute in any way. 

While other students relaxed after a long day of classes, Schanwald was learning the ins and outs of the sports marketing industry. It was the mid-1970s, and sports marketing was a concept in its infancy. 

Cole Field House was once home to the University of Maryland basketball teams from 1955-02. However, it was also the property of the first sports promotions office in the history of intercollegiate athletics. 

The tiny office Schanwald developed his craft inside was just off the basketball court, across from the Terps’ locker room. During the basketball season, the team was almost always in the vicinity, either practicing or chopping it up in the locker room. Of course, Lefty Driesell was present, being the legendary, larger-than-life figure Hall of Fame head coach he was.

This was where Schanwald's 40-year career as a sports management executive started as an undergraduate student. He received his start from the legendary Russ Potts, who was collegiate athletics’ first-ever Director of Sports Promotions. 

“I was very blessed when I came to Maryland and found out that they had a sports promotions office,” Schanwald said. “I thought, well, this would be a great place to stay involved in sports and do what I could around sports. It proved to be a great career because I had 40 years where I never felt like I was going to work.”

Showing his token of appreciation to Maryland Athletics for assisting with launching his career, Schanwald made the third-largest gift in the history of Maryland Athletics. He donated $10 million to Maryland Athletics — part of an $18 million gift to the University of Maryland that also supports the Sports Management Program at the Robert H. Smith School of Business — to help support student-athletes now and yet to come, who represent the future of our university and our society.

“I was blessed to be in a position to support Maryland financially,” Schanwald said. “I believe in paying it forward and helping the next generation. … I want to leave the world a better place than I found it.”

Schanwald’s legacy and generosity will be recognized through the naming of the Stephen M. Schanwald Pavilion at the XFINITY Center, the Stephen M. Schanwald Football Practice Fields at the Jones-Hill House complex, and the Schanwald-Potts Revenue Strategy Suite at the XFINITY Center.

The suite was originally going to be dedicated to Schanwald, but he was adamant about being honored alongside Potts, who played a profound role in his career and personal life. Potts passed away in 2021 at age 82. 

“He talks often about getting his start in sports and those that mentored him,” Scott Sonnenberg, the current Chief Commercial Officer for the Los Angeles Clippers and Intuit Dome, said. “I know he's talked about Russ Potts several times over the years and others that have given him opportunities. I really think that's where Steve's legacy lands — paying it forward.”

Brooks Boyer, the Senior Vice President and Chief Revenue and Marketing Officer for the White Sox, shared a similar sentiment. Schanwald referenced his time at Maryland and Potts’ mentorship in their first conversation. 

“He told me his story started at Maryland,” Boyer said. “I knew very early he was a proud Terrapin, but that was the first time I had learned of Russ Potts. He referenced Russ Potts in that conversation.”

Upon graduation from Maryland, Steve was named the first-ever Director of Sports Promotions at the U.S. Air Force Academy. He then took on leading roles in marketing the Pittsburgh Pirates and Chicago White Sox before spending 28 years overseeing business operations for the NBA’s Chicago Bulls. 

During his tenure, the Bulls became one of the world's most recognized and iconic sports brands. He also set numerous attendance and revenue records at every stop. But undoubtedly, his most remarkable accomplishment was being blessed with seven world championship rings, including six with the Bulls.

His success allowed him to have dinner with celebrities such as Muhammad Ali, Tom Cruise, and Jay Leno. He visited the White House numerous times, meeting every president of the United States, from Gerald Ford to Joe Biden.

Along the way, Schanwald mentored numerous individuals. Sonnenberg and Boyer started in the sports marketing industry, working for Schanwald and the Bulls. They spent roughly a decade working alongside him. 

“Something that's very valuable to Steve is, we joke about, his coaching tree of the people,” Boyer said. “Steve doesn't have any children, so he takes a great deal of pride in his coaching tree and who he has mentored or helped. I would not be in the position I am today without him. …  I've had a 30-year career because that's the type of thing that Steve cared about, mentoring executives to put them in the position, whether it's in sports or a different industry, to go chase their passions.”

Schanwald helped others reach their potential while also being highly achieving himself. Sonnenberg detailed a few of Schanwald's many accomplishments and what made him successful.  

“I have a tremendous amount of respect for Steve and his impact on sports business,” Sonnenberg said. “If you look at what Steve has done in the sports business world, he really transformed it. I don't know if there was a team in sports prior to the Chicago Bulls that were turning the lights off during the introductions.”

According to Sonnenberg, Schanwald pioneered many common marketing strategies one may see when they attend a game. Schanwald knew how to keep people entertained. The gameday experience started once fans entered the United Center (formerly Chicago Stadium before 1994).

Every game was a party. Fans were greeted by armbands, face painters, balloon makers and other merchandisers. Schanwald found ways to generate revenue at every corner. He took the dot race, just a bunch of dots on a scoreboard that raced and sponsored it. The dot race became the M&M race, and it later became the Dunkin’ Donuts race, which is what it is known as today. 

“He saw that we need to entertain our fans from the second they get to the building until they leave,” Sonnenberg said. “And then how do we generate revenue from that? I think Steve was one of the pioneers in all of that.”

Schanwald, who grew up in Bethpage on Long Island, referred to becoming a Terp as a “happy accident.” He had planned to attend a State University of New York (SUNY) school, but his father lost his job. The Schanwalds subsequently moved to Maryland, as his father took a new job there. 

The Long Island native remembers being intimidated by the size of the University of Maryland’s campus. He was also surprised when he got caught in a blizzard while walking to one of his classes. He thought he was in the South, escaping the brutal winters he endured in New York. 

Sports management didn’t exist when Schanwald was in high school and hardly existed once he entered college. However, his love for the career path comes from his passion for playing sports throughout his childhood. 

As Schanwald recalls, he simply walked into Maryland’s sports marketing office and asked Potts for a job. The department had no money to pay him, but he was eager to work for free. He learned from Potts for three years. 

“He was my mentor, and he was like my second father,” Schanwald said. “Everybody in life needs somebody to believe in you and give you an opportunity. And when you screw up, let you know that you did wrong, and here's how you can do better than next time, but not judge you so harshly because you know that he's on your side and he wants to see you succeed. It feeds his soul to see you succeed more than it feeds yourself.”

Many highly respected Potts. Schanwald says he landed his job at Air Force largely because of Potts’ recommendation. He also referred to Potts as a “force of nature, energy and enthusiasm.” He explained the lessons he learned from him in his three years as one of his interns. 

“I learned the fundamentals of sports marketing and promotions from Russ, and then that served me well,” Schanwald said. “I tried to take those lessons and incorporate them wherever I went, but more importantly, I learned life lessons. The value of hard work, the importance of loyalty, kindness, empathy and competitiveness. The things, values and character traits that help you succeed, not just in life, but in your professional life.”

Schanwald then passed down those lessons to people he went on to hire and work with at each of his stops. One of the many people he took under his wing was Sonnenberg. 

“Where Steve finds the most joy, I believe, is seeing others that he's been able to bring into the world of sports and watch them grow in their careers,” Sonnenberg said. “I think that's where he gets the most fulfillment. In fact, I think he shared that with me a few different times because there's multitudes of people he's given opportunities to, and their careers have later taken off.”

Schanwald was at the XFINITY Center on Nov. 15 for a ribbon cutting with friends and family alongside Potts’ widow, Emily, and their daughters. That day, he also attended the Marquette men’s basketball game, where he was honored as the Terrapin Club donor of the game.  

“It's something I never could have imagined that I would have been in a position to support Maryland in the way that I am and to have them honor me in return for my support in that way,” Schanwald said. “I'm just an average, humble kid who grew up middle class on Long Island, who went on to have this incredible career because of the opportunity Maryland gave me.”