The University of Maryland Robert H. Smith School of Business is proud to announce that alumnus Stephen M. Schanwald ‘77, former Executive Vice President of Business Operations with the Chicago Bulls and a trailblazer in sports marketing, has given an $8 million gift to establish the Stephen M. Schanwald Sports Management Program. The gift is part of a larger, $18 million commitment which also supports Maryland Athletics.
“Steve is a giant in the sports industry, and he has a true passion to help students succeed,” said Smith School Dean Prabhudev Konana. “We are so grateful to Steve for his generosity and vision. This transformative investment, combined with our existing strong curricular and co-curricular opportunities, will make the Smith School a truly exceptional place for young people to launch a career in sports.”
Schanwald is a legendary name in the sports industry. His long and remarkable career began as the U.S. Air Force Academy’s first ever Director of Sports Promotions. It ended with the Bulls, where he spent 28 years building the organization into a world-class brand through the Michael Jordan era and beyond. Schanwald revolutionized how sports fans experienced basketball games, adding entertainment and opportunities for participation from the time they entered the stadium, and building engagement opportunities that extended out into the community. Many of his initiatives at the Bulls were adopted by the league and are now an expected part of an NBA experience.
His interest in the business of sports began when, as an undergraduate student at Maryland, Schanwald worked for Russ Potts, the first sports marketing director in the history of collegiate athletics. Pott’s mentorship was so influential that Schanwald credits it with being “the greatest decision I ever made.” By paying his mentor’s contributions forward, Schanwald is passing on the same guidance and support he received to the next generation of sports industry professionals.
“It’s a great blessing at this stage of my life to be able to have the opportunity to try to help young people grow and achieve their dreams,” says Schanwald. “The most rewarding thing to me is mentoring people and helping people climb the ladder the way I was helped.”
The newly renamed Schanwald Sports Management Program is a collaboration between the university’s Robert H. Smith School of Business, the School of Public Health’s Department of Kinesiology, the Philip Merrill College of Journalism’s Shirley Povich Center for Sports Journalism, and Maryland Athletics. Students develop the skills, foundational knowledge and opportunities to prepare them for a career in the sports industry. Students have access to specialized programming such as site visits, sports industry career fairs, networking nights and sporting events. Schanwald is a member of the program’s Advisory Board.
“The Sports Management Program has seen very rapid growth since its launch,” says Michel Wedel, Pepsico Chair in Consumer Science and interim faculty director of the program. “It attracts highly motivated students with varied backgrounds from across campus, who are passionate about pursuing a career in sports management. This generous gift from Stephen Schanwald will make it possible to offer a much broader portfolio of courses, further strengthen ties with the sports industry, and attract new instructors that have deep knowledge and experience in the industry, and support students in their educational experience and make them more competitive in the sports marketplace. Students and faculty involved in the Sports Management Program are extremely excited by the enhanced opportunities created by this gift and are very grateful to Mr. Schanwald for his generosity and support of the program.”
Schanwald’s gift will support the expansion of the sports management program and fund the creation of more hands-on industry site visits, expanded networking opportunities, and access to cutting-edge technology and resources.
“This extraordinary gift will fund the experiences that will prepare our students to lead in the sports industry. As someone who got his start interning for Maryland Athletics, Steve knows how powerful these experiences can be. It’s inspiring to see him give back to a program that will open doors for the next generation of Terps pursuing careers in sports, just as his mentors helped him here at Maryland,” said Tori Shay, associate program director of the sports management program.
