.png)
The Indiana Hoosiers are the 2025-26 College Football Playoff National Champions! And no, this isn’t a typo or error. It is, in fact, a reality as unbelievable as that is. My wife and I both grew up in Indiana and attended Indiana University, as did my daughter. My childhood memories include three national college basketball championships, but football, not so much.
Up until very recently, Indiana had the losingest college football program in history. Year after year of mediocre talent coached by mediocre coaches. At Indiana, football was all about the tailgate, not the game. On game day, the stadium would be half full at best, while all the tailgate lots around the stadium were brimming with fans more interested in partying than watching bad football. And who could really blame them? A century of losing football will do that. And then on November 30, 2023, this all started to change.
That was the day a little-known coach to most Power 4 conference fans was hired. That man was Curt Cignetti. Over the first 24 hours as he was introduced to the media, fans, and Indiana staff, he became increasingly annoyed. He perceived a sense of gloom over the program and low expectations of what could really be accomplished with the Indiana football program. He decided he needed to shake things up a bit and reset expectations. His career up to that point had been one of consistent winning, turning around struggling programs and making them winners. And he had no intention of doing anything different at Indiana. To make his point, he famously uttered the line at the introductory press conference… “Google me. I win.”
Then, the next day, before the tipoff of an Indiana basketball game, as he was introduced as the new football coach, Cignetti went to midcourt and said the following: “I’m super fired up about this opportunity. I’ve never taken a back seat to anybody, and I don’t plan on starting now. Purdue sucks, but so do Michigan and Ohio State. Go IU!!”
This is when a lot of fans started to get a bit nervous. Tone it down, coach. This is Indiana. We have NEVER consistently won at football. Our team isn’t loaded with 5-star athletes. You are going to eat crow, and we are going to be laughing stocks once again if you don’t set the bar a bit lower. But he refused, because he knew what he was doing and he had a vision. The culture needed to change and the days of accepting mediocrity were over.
Many are asking: what is Cignetti’s secret formula for winning? Sorry to disappoint but there isn’t one. His success and Indiana’s success this past season came from a strong culture built upon character, personal accountability, and teamwork. Cignetti recruits for character and work ethic, not stars. He looks at high school transcripts to review grades and to see how many absences a potential recruit has had. Talented, self-centered athletes with ego complexes who lack self-discipline and a strong work ethic won’t be recruited. If you aren’t about the team, you won’t be on the team. And the standard is the standard. No shortcuts or excuses.
The Cignetti mantra of playing fast, physical, and relentless can be summarized as follows:
1. Six seconds per play: Maximum effort for the duration of a single play consistently applied from the first to the last.
2. Independent Value: Every play has a life of its own, meaning the outcome of the last play does not dictate the intensity of the next.
3. Emotional Stability: Players are trained to not be affected by success (getting complacent) or failure (getting down).
4. Relentless Standards: The goal is to be fast, physical, relentless, smart, disciplined, and poised on every single snap.
5. Never Satisfied: A commitment to playing to a standard, not the circumstances of the game, ensuring intensity remains high regardless of the score.
It is the buy-in to these beliefs and holding players accountable to them that makes Cignetti a special coach. One of my favorite memories from the national championship game clearly demonstrates how Cignetti holds players to the standard. On Miami’s final possession, Carson Beck threw along pass that was easily intercepted by Indiana defensive back Jamari Sharpe with 42 seconds left in the game. After taking a knee, he jumped up and ran through the end zone ripping off his own helmet in celebration. He was immediately flagged by the referee for taking his helmet off in the field of play. Sharpe continued to celebrate on the sidelines UNTIL Cignetti ran over and chewed him out yelling… “You just got us a penalty! Get your *bleep* over to the bench. We will celebrate when the game is over.” While this may sound harsh, it all goes back to really believing what you are asking players to buy-in to. Even though Sharpe made a great play, he failed to show emotional stability and adherence to a relentless standard of being smart, disciplined, and poised. The standard is the standard regardless of the game circumstances.
All great companies and teams have a clear vision and strong culture. There is a standard of excellence and execution that is imbued in everything they do. They only recruit members who embrace these standards and are willing to hold themselves and their teammates to them. They believe iron sharpens iron and they are never satisfied. This is the type of company PYA Waltman Capital strives to be each day. It’s never crowded along the extra mile. We hope to see you out there. Go IU!!!
PYA Waltman (“PYA”) is an investment adviser registered with the U.S. Securities and Exchange Commission. Registration does not imply a certain level of skill or training. More information about PYA’s investment advisory services can be found in its Form ADV Part 2 and/or Form CRS, which is available upon request. PYA-26-16
.png)
