
A year later, Nike made $3.2 million in sales. Around this time, they approached Haywood about a sponsorship opportunity. Phil Knight and his company made the star forward an offer: Promote the shoes for either $100,000 or a 10 percent stake in the company. At the advice of his agent, Haywood took the money instead of the stake in the company. In June 2018, Forbes valued Nike’s worth at $110.3 billion. Haywood’s described passing on partial ownership — and up to $11.03 billion — as one of the worst decisions of his life. But he’d come to make worse ones.