How Spencer Haywood Lost $3 Billion Because Of His Agent

However, Haywood was not approached by just any shoe company. The company that was interested in him was what we all know and love today as the name brand — Nike.

The offer they presented to him was just absurd compared to today’s standards. He had the option to take $100,000 dollars or take 10% of the company in exchange for promoting the shoes.

This was one year prior to Nike even being known as the brand name. As of that particular year, they were still a small player of the market known as Blue Ribbon Sports, before being a global powerhouse only a few years later.