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NBA Legend Spencer Haywood was offered 10% of Nike but turned it down for $100K
Posted on 2/4/16 at 10:17 pm
Posted on 2/4/16 at 10:17 pm
quote:
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.
LINK
7
Posted on 2/4/16 at 10:22 pm to Bench McElroy
I'd have my agent killed if I were him
Posted on 2/4/16 at 10:24 pm to Carson123987
Have him killed, I'd do the shite myself!
Posted on 2/4/16 at 10:38 pm to Bench McElroy
who else thought about this guy?
Posted on 2/4/16 at 10:40 pm to Bench McElroy
I see that poster is from 73, but what year did he take the 100k?
Posted on 2/4/16 at 11:18 pm to Bench McElroy
The agent is a freaking jack arse. He should have got Haywood sign over a percentage of his percentage.
Posted on 2/5/16 at 1:39 am to SECSolomonGrundy
Thought it was this guy before rereading the title. 
Posted on 2/5/16 at 2:11 am to Bench McElroy
50 Cent had the right idea. He got 5 million up front and a 5 percent stake in Vitamin Water to become the face of the company. When VW's parent company was sold to Coca Cola 50 walked away with nearly a quarter billion dollars.
Posted on 2/5/16 at 5:19 am to beaverfever
And isn't he bankrupt now?
Posted on 2/5/16 at 5:43 am to baybeefeetz
Posted on 2/5/16 at 6:24 am to Carson123987
quote:he can't afford to because he didn't take the stake
I'd have my agent killed if I were him
Posted on 2/5/16 at 6:58 am to baybeefeetz
quote:I still don't understand how this happened. Usually there are crazy stories of extravagance when you hear about people who have managed to blow through a fortune. I've never really heard anything like that involving him. He probably thought he was a financial guru when he made all that Vitamin Water money and started blowing it one bad investment at a time.
And isn't he bankrupt now?
Posted on 2/5/16 at 8:23 am to baybeefeetz
He filed for bankruptcy so he wouldn't have to pay child support or something like that. Pretty sure he still has a good amount of money
Posted on 2/5/16 at 9:09 am to JLock
quote:
He filed for bankruptcy so he wouldn't have to pay child support or something like that. Pretty sure he still has a good amount of money
He hid all his money and is publicly pretending to be poor so he doesn't have to pay some debts to some people. I didn't think it was child support, I thought it had to do with record labels or something.
He goes on every talk show possible to talk about how broke he is and he smiles the whole time
He is sheltering his money and everyone knows it.
This post was edited on 2/5/16 at 9:10 am
Posted on 2/5/16 at 9:22 am to Bench McElroy
Not quite in the same league but Bobby Orr was offered 18% of the Boston Bruins. However his agent didn't tell him about the offer b/c he wanted Orr to sign with the Black Hawks, with whom he had a "close relationship".
The agent was later convicted of fraud and disbarred.
LINK
The agent was later convicted of fraud and disbarred.
LINK
Posted on 2/5/16 at 9:23 am to Bench McElroy
Damn. That sucks arse. How much of Nike does Jordan own?
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