NBA Legend Spencer Haywood Turned Down 10% Stake In Nike For $100K (Video)
The saying goes, ‘you can’t miss what you never had’, but in former NBA legend Spencer Haywood‘s case, he had a chance to have it and passed on it. What was it, you ask? Oh nothing, just a 10% stake in a fairly new company named NIKE which the legend turned down for $100k instead.
“Basketball great Spencer Haywood once had the chance to take a 10 percent stake in then-fledgling sportswear brand Nike in exchange for promoting its products. Instead, he took a cash guarantee of $100,000 at the urging of his agent.
The tale comes from a profile on Haywood from Click on Detroit, which claims the agent wanted him to take the cash option so he could get his commission.
Had Haywood taken the stock option and held onto his percentage, it would be worth around $8.62 billion today.”