NBA Sports

How a Small Mistake Cost an NBA Hall-of-Famer More Than $11B

How a Small Mistake Cost an NBA Hall-of-Famer More Than $11B July 24, 2018

history of nike

    The history of Nike began when Bill Bowerman and Phil Knight met in the ’50s. But an NBA Hall of Famer turned down the chance to be a part of it. And that choice cost him billions…

    “I was very aware of shoes when I was running track,” Knight told Stanford Magazine in 2008. “The American shoes were offshoots of tire companies. Shoes cost $5, and you would come back from a five-mile run with your feet bleeding. Then the German companies came in with $30 shoes, which were more comfortable. But Bowerman still wasn’t satisfied. He believed that shaving an ounce off a pair of shoes for a guy running a mile could make a big difference. So Bowerman began making shoes himself, and since I wasn’t the best guy on the team, I was the logical one to test the shoes.”