Why I Give: Steve Schanwald

Steve Schanwald has his reasons. 

The 1977 graduate of the University of Maryland donated $10 million to Maryland’s athletic department — 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.

The gift, announced on Dec. 3, was the third largest received by the department in its history. Schanwald sought to pay homage to the university that launched his career and to the students, now and yet to come, who represent the future of the University of Maryland and society as a whole.    

Schanwald credits the opportunity Maryland gave him as the driving force behind his decision to give back. He also cited reasons such as helping Maryland create more championship-winning memories, a love for sports because of their power and others doing the same for him.  

“As I near the end of my life, I’m in a position to do something to make sure that people I don’t even know are going to benefit from the professional life I had, which came largely from what the University of Maryland gave me,” Schanwald said.

Schanwald’s 40-year career as a sports management executive was filled with success as he set numerous attendance and revenue records at every stop, made innovations that have stood the test of time and of course, drove the NBA’s Chicago Bulls, led by superstar Michael Jordan, to become one of the most recognized and iconic sports brands in the world. But above all else, it’s the seven world championship rings — one with MLB’s Pittsburgh Pirates and six with the Bulls — that stand above all else. 

“I think that anybody you talk to who's won a championship has a hard time putting that feeling into words,” Schanwald said. “There are no words that can adequately describe the feeling of winning a championship because you've worked so hard for it, and there have been many disappointments along the way, many frustrations and many times where you felt it would never happen. It's the pinnacle. It's what you work for.”

Schanwald recognizes the sacrifice and unwavering support involved in winning a championship in any sport. He hopes to help Maryland Athletics create many more championship-winning memories through his gift.

His decision to give to athletics, in particular, stems from his love for sports. He’s seen firsthand the impact sports have on a community. Schanwald developed the Bulls into the iconic brand they are today by finding ways to incorporate the community into the franchise and building synergy between fans, players and the front office.  

Schanwald explained the power of sports and what makes them so impactful within a community. 

“Sports are really valuable because they’re the only vehicle that brings together the most diverse group of people you could imagine,” Schanwald said. “They bring everybody together in a communal feeling. … There's nothing else that brings together such a diverse group of people as sporting events, and I think that's the great thing about sports.”

He continued to explain what makes sports unique. 

“To see an entire community of disparate people come together and be joyful and hug each other, even though they might be very different as people, there's nothing more rewarding than that. As a marketer, nothing was more rewarding than knowing when people left the game and observing them singing, dancing, laughing, cheering and knowing they had a great time. That's the Holy Grail for us, to make sure they understand that they have a role to play, that they’re participants.”

Schanwald’s final reason for giving back is that he believes others did the same for him. Potts dedicated his expertise to Schanwald as an undergraduate student intern, teaching him the intricacies of sports marketing and many other life lessons. 

They became two of sports' most innovative and successful marketing executives, and their lifelong friendship was forever forged despite their paths diverging later. They remained bonded by their love of Maryland Athletics and shared values and principles regarding how to treat people, build a brand and make the game experience the best it could be for the fans.

Potts made the world a better place before he passed away in 2021 at age 82. Now, Schanwald wants to do the same on an even larger scale. 

“I can leave this world knowing that I've made a difference in the world, that the world is a better place for my existence,” Schanwald said. “I mean, isn't that what life should be about? It's about making a difference in the world, not being a burden on the world, but making a positive impact on people, which, if I make a positive impact on just one person, I've made the world a better place.”

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. Through the power of giving, Schanwald's legacy lives on.  

“To me, at this stage of my life, given the resources that I have, it is really rewarding and fulfilling,” Schanwald said. “It feeds my soul to know I'm making a difference in people's lives. … That's just what's inside me.”