I’ve always known that some of life’s most valuable lessons could be learned on the athletic field, but I never thought that fiscal responsibility was one of them. Now, thanks to Under Armour CEO Kevin Plank, that has changed.
As the head of nearly every failing bank in America takes home multi-million dollar bonuses, Mr. Plank has decided to cut his own salary from $1.5 million (with bonuses included), to just $26,000. That’s less than a first year teacher in most parts of the country. What makes this act of fiscal responsibility even more incredible is the fact that Under Armour’s revenue actually grew last year by almost 20%.
This begs the question, have any of you been making sports-related sacrifices this year? Has your team been scheduling fewer road games? Have you been fundraising more or had less success when fundraising?