One Company Drives Risky World of Competitive Cheer

Cheerleading may elicit images of pompoms and ponytails, but the athleticism required to pull off stunts performed in competition these days requires more than glittery pep. As it turns out, cheering has resulted in more catastrophic injuries than any sport played by female high school and college athletes combined, writes David Gauvey Herbert in the New York Times. His story looks at how cheerleading progressed into such risky territory, starting with Jeff Webb, who "pioneered the gravity-defying acrobatics of modern cheer." Webb, now in his 70s, once worked for Lawrence Herkimer, who founded the first cheerleading company of its kind, the National Cheerleaders Association. But Herbert describes how Webb took Herkimer's money-making cheer model—monetized through trainings and camps—and blew it up into a billion-dollar industry dominated by his own business, Varsity Spirit.

As Varsity Spirit leveled up the performances at its national competitions, cheerleaders flocked to its gyms and camps to learn to perform (and win) at the top level. Antitrust suits say the company strategically elbowed out or swallowed up competition, allowing it to set the standards and oversight of cheer while raking in major cash (competitions, uniforms, and training commonly cost a cheerleader—or her parents—$10,000 yearly). Critics say this domination (and acquisitions by equity firms like Bain Capital) has created a dangerous culture. Herbert speaks to Webb himself, who acknowledges cheering has become too expensive and seems to regret the private-equity money that fueled all this growth, even if it did make him millions. "Once you are on that treadmill," he says, "it's almost impossible to go back." (Read the full story.)