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nike gave spencer haywood a choice of 100k or 10% stake in the company. he fu-ked up


 


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 5 months ago '10        #1
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trill jackson 1082 heat pts1082
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nike gave spencer haywood a choice of 100k or 10% stake in the company. he fu-ked up
 

 
the 10% stake would be worth 8.6 billion today



agent screwed him

visit this link https://www.foxsports.com .. company-020416

125 comments for "nike gave spencer haywood a choice of 100k or 10% stake in the company. he fu-ked up"

 5 months ago '15        #2
6Fraud 161 heat pts161
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n*ggas aint know better back then





At the same time how do you not see more value in ownership vs upfront cash

Top 10 most propped recently  5 months ago '15        #3
2Cold 562 heat pts562
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i hope that n*gga made peace.. cause i might have committed that after the first 100 million



 5 months ago '05        #4
Stuart Scott 221 heat pts221
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1973

100k was a lot of money then

 5 months ago '15        #5
TrapGod 
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Smh

Top 10 most propped recently  5 months ago '15        #6
Flippa Huxtable 8 heat pts
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I bet he still has nightmares about that decision

 5 months ago '10        #7
USC 82 heat pts82
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I wonder how quick he would've earned that 100k back, couldn't be that long.

 5 months ago '12        #8
Gramz 750 heat pts750
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ouch

 5 months ago '05        #9
ElQueHablaSucio 49 heat pts49
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the 10% stake would be worth 8.6 billion today


Sh*t..I'm speechless.




sportsbook 62 - 28 STRK: 3 w in a row WIN PCT: 68% 36 (-5) 
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 5 months ago '15        #10
Swavey 152 heat pts152
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Y’all acting like people knew about Stocks back then

Top 10 most slapped recently  5 months ago '14        #11
strungout 391 heat pts391
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The lead actor from city of God was given the choice of 10 thousand dollars or like a percentage of all sales ...

He took the 10 , movie went onto be a cultural phenomenon, but it's hard to vindicate that when you need to put food on the table today

 5 months ago '05        #12
ChickzNKickz 102 heat pts102
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Hindsight is always 20/20

A lot of n*ggaz playing Monday morning QB right now.

 5 months ago '14        #13
utsdbl 
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 Stuart Scott said
1973

100k was a lot of money then
equivalent to about half a million today

at the time, 10% of nike must have been worth significantly less, or the offer would not have been made

 5 months ago '16        #14
ahonui06 1578 heat pts1578
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If you're an NBA player definitely take the 10% ownership stake

 5 months ago '12        #15
BlessInTheSky 6 heat pts
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 ahonui06 said
If you're an NBA player definitely take the 10% ownership stake
Hindsight is 20/20 though.

Who would've thought Nike would become the company it is today back in 1973?

Take a look at this from Wikipedia:
In 1964, in its first year in business, BRS sold 1,300 pairs of Japanese running shoes grossing $8,000. By 1965 the fledgling company had acquired a full-time employee, and sales had reached $20,000. In 1966, BRS opened its first retail store, located at 3107 Pico Boulevard in Santa Monica, California next to a beauty salon, so its employees no longer needed to sell inventory from the back of their cars. In 1967, due to rapidly increasing sales, BRS expanded retail and distribution operations on the East Coast, in Wellesley, Massachusetts.

By 1971, the relationship between BRS and Onitsuka Tiger was nearing an end. BRS prepared to launch its own line of footwear, which would bear the Swoosh newly designed by Carolyn Davidson. The Swoosh was first used by Nike on June 18, 1971, and was registered with the U.S. Patent and Trademark Office on January 22, 1974.
Basketball players weren't extremely rich back in the 70s - the average salary was like $35k a year. So that $100,000 looks extremely tempting when compared to a company wasn't even known as Nike until 1971 - they were known as Blue Ribbon Sports before that.


Last edited by BlessInTheSky; 07-11-2018 at 09:34 PM..

 5 months ago '16        #16
ahonui06 1578 heat pts1578
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 BlessInTheSky said
Hindsight is 20/20 though.

Who would've thought Nike would become the company it is today back in 1973?

Take a look at this from Wikipedia:


Basketball players weren't extremely rich back in the 70s so that $100,000 looks extremely tempting when compared to a company wasn't even known as Nike until 1971 - they were known as Blue Ribbon Sports before that.
No way he could've known Nike would become a behemoth, but he was already a NBA player at the time so he should've taken that ownership stake. He could've made up that $100K as part of his NBA contracts.

 5 months ago '15        #17
6Fraud 161 heat pts161
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 Scorpion06 said
That n*gga was just happy to drive a Cadillac and keep a fresh pair of bell bottoms. Stupid a.ss.


 5 months ago '05        #18
Wondah_Woman 9 heat pts
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Anybody ever read Phil Knight’s book Shoe Dog? They were holding Nike together with tape and glue back then. You don’t know what you don’t know. If we could all only live in hindsight....

 5 months ago '12        #19
BlessInTheSky 6 heat pts
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 ahonui06 said
No way he could've known Nike would become a behemoth, but he was already a NBA player at the time so he should've taken that ownership stake. He could've made up that $100K as part of his NBA contracts.
edited my post to include that the average NBA salary during that time was $35k a year...

 5 months ago '11        #20
megalomaniacal 1 heat pts
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I had 10 bitcoins a few years back


sh*t happens

 5 months ago '17        #21
Officialjm3 4 heat pts
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So how many of y’all are deeply invested in Netflix or amazon? Exactly. Stfu

 5 months ago '15        #22
6Fraud 161 heat pts161
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 Officialjm3 said
So how many of y’all are deeply invested in Netflix or amazon? Exactly. Stfu
Netflix nor amazon has come to us regular joes with an offer though



This completely different buddy

Top 10 most propped recently  5 months ago '06        #23
realgunta 838 heat pts838
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$100,000.00 in 1973 had the same buying power as $580,056.47 in 2018


still was a bad move on his part though

 5 months ago '04        #24
AliHood 4 heat pts
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 2Cold said



i hope that n*gga made peace.. cause i might have committed that after the first 100 million



 5 months ago '04        #25
AliHood 4 heat pts
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 Officialjm3 said
So how many of yíall are deeply invested in Netflix or amazon? Exactly. Stfu
I do own both tho....

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