Chad Richison, the founder and CEO of Paycom, has long been a staunch supporter of wrestling, backing new initiatives and funding various projects. His dedication to the sport stems from his own experiences as a wrestler in his youth.
From Tuttle to the University of Central Oklahoma
Richison wrestled growing up in Tuttle, then in college at the University of Central Oklahoma. At his peak, he placed at state championships as a high school senior in 1989. The biggest thorn in his side is a wrestling match he had in high school - it is now and always has been that he never was a state champion in wrestling.
He recalls a specific match from his senior year: "It was against somebody I’d already beat. I got ahead like 5-0 right off the bat and then I just coasted and didn’t try to put away. I got taken down at the end of the match and got beaten by one point. I went up to my coach and said "There wasn’t any time on the clock. Why didn’t you say something to the ref?” I’ll never forget what he said, Coach Greg Hanning said, "You had several opportunities to win that match, and you’re the one who put it in the referee’s hands.” From that point on, I went with the "no excuses” viewpoint, and I do it today with my business."
Significant Financial Support
Through the Richison Family Foundation and Oklahoma City-based Paycom, he has supported upgrades to facilities at both places as well as pouring millions into the National Wrestling Hall of Fame in Stillwater and the wrestling programs at Oklahoma State and Oklahoma. In November 2015, Richison made, at the time, the single-largest donation ever to his alma mater's athletic program.
In 2021, following a $10 million donation from Richison, the University of Central Oklahoma's football stadium was renamed the Chad Richison Stadium. Richison has done everything from throwing his support behind OSU’s hire of first-year head coach David Taylor to providing endowments for coaches around Oklahoma. His Tech Fall Foundation gives endowments between $1,000 and $7,000 to four coaches in the state.
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Paycom President and CEO Chad Richison shares his background as a wrestler in Oklahoma and why he's chosen to support Cowboy wrestling financially.
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The National Duals Invitational: A Game Changer
Now, the Paycom founder and CEO is launching a first-of-its-kind college wrestling event in his home state. The inaugural National Duals Invitational, sponsored by Richison’s Paycom, will be held Nov. 15-16 at Tulsa’s BOK Center with a total purse of more than $1 million. Yes, a purse for a college wrestling tournament.
National Wrestling Coaches Association executive director Mike Moyer calls the new event a game changer. “Due to the unprecedented challenges in NCAA Division I athletics today,” he said in a release, “it is more imperative than ever to have more big moments in intercollegiate wrestling so we can substantially grow our fan base and viewership.”
Half of the squads in the 16-team event, which OSU will serve as the host school for, will earn payouts with the winning team taking home $200,000. Second and third will earn $150,000, fourth $75,000 while fifth through eighth earns between $50,000 and $20,000.
Each team will receive $20,000 just for participating. Funding of that magnitude is rare in college sports outside of football and basketball. Wrestling is one of the sports with an unknown future, and that was the case before this current shift of the landscape.
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Over the past 50 years, the number of Division I programs has almost been cut in half, from 155 in 1975 to 79 this season, according to FloWrestling. “Investing in student-athletes and non-income-generating sports is important in today’s ever-evolving collegiate landscape,” Richison said in a release.
Gratitude and Excitement
“Bringing a prestigious wrestling tournament of this magnitude to Oklahoma is exciting for the sport,” OSU athletic director Chad Weiberg said in a release, “and the winnings will be significant in helping universities build out their programs at an even higher level."
“We continue to be grateful for Mr. Richison’s vision and generosity in supporting Oklahoma State University and the sport of wrestling.”
Prize Money Distribution for National Duals Invitational
| Position | Prize Money |
|---|---|
| 1st Place | $200,000 |
| 2nd Place | $150,000 |
| 3rd Place | $150,000 |
| 4th Place | $75,000 |
| 5th - 8th Place | $20,000 - $50,000 |
| Participation Fee | $20,000 |
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