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The Most Impressive World Championship Team Isn’t a Country. It’s a Brand.

Three years ago, the high-end sports apparel company On made a pandemic-era gamble by launching a track and field team that will be one of the most visible starting Saturday in Budapest.

Dathan Ritzenhein, the coach of On Athletics Club, was juggling a couple of jobs on a brisk morning this spring. As members of his elite distance-running team logged hard miles on some deserted back roads outside Boulder, Colo., Ritzenhein seemed determined to murder his pickup truck’s transmission.