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

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 1 week ago '10        #1
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trill jackson 889 heat pts889
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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
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125 comments for "nike gave spencer haywood a choice of 100k or 10% stake in the company. he fu-ked up"

 1 week ago '15        #2
6Fraud 118 heat pts118
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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
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 1 week ago '15        #3
2Cold 457 heat pts457
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i hope that n*gga made peace.. cause i might have committed that after the first 100 million


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 1 week ago '05        #4
Stuart Scott 210 heat pts210
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1973

100k was a lot of money then
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USC and 3 others slapped this ish
 
 1 week ago '15        #5
TrapGod 
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Smh
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 1 week ago '15        #6
Flippa Huxtable 4 heat pts
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I bet he still has nightmares about that decision
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 1 week ago '10        #7
USC 80 heat pts80
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I wonder how quick he would've earned that 100k back, couldn't be that long.
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 1 week ago '12        #8
Gramz 629 heat pts629
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ouch
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 1 week ago '05        #9
ElQueHablaSucio 37 heat pts37
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the 10% stake would be worth 8.6 billion today


Sh*t..I'm speechless.
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 1 week ago '15        #10
Swavey 142 heat pts142
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Y’all acting like people knew about Stocks back then
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 1 week ago '14        #11
strungout 373 heat pts373
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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
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 1 week 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.
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 1 week 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
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 1 week ago '16        #14
ahonui06 1270 heat pts1270
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If you're an NBA player definitely take the 10% ownership stake
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 1 week 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 08:34 PM..
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 1 week ago '16        #16
ahonui06 1270 heat pts1270
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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.
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 1 week ago '15        #17
6Fraud 118 heat pts118
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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.

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 1 week ago '05        #18
Wondah_Woman 8 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....
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 1 week 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...
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 1 week ago '11        #20
megalomaniacal 1 heat pts
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I had 10 bitcoins a few years back


sh*t happens
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