Nationwide, just over a million children, mostly girls, participate in cheer each year (some estimates are even higher), more than the number who play softball or lacrosse. And almost every part of that world is dominated by a single company: Varsity Spirit.

It’s hard to cheer at the youth, high school or collegiate level without putting money in the company’s pocket. Varsity operates summer camps where children learn to do stunts and perform; it hosts events where they compete; it sells pompoms they shake and uniforms they wear on the sidelines of high school and college football games.

Varsity’s market power has made the cheer world a paranoid place. In the reporting for this article, dozens of people spoke about the company in conspiratorial tones better suited to a spy thriller.

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