The One Word Nike Used That Ended Up Costing Them $14 Billion

When looking to sign one of the NBA's biggest talents, Nike believed it had a convincing presentation. If all went according to plan, it had the potential to make millions. But unfortunately, one wrong word cost Nike far more than a pair of sneakers, ultimately burning a bridge with a gigantic star.

From 8K To 30 Billion

Since its founding in 1964, Nike – known then as Blue Ribbon Sports – has raked in billions by collaborating with the best names in sports, but that didn't happen overnight. The company's come a long way since selling its first pair of sneakers out of the back of founder Phil Knight's car. Grossing just $8,000 in its first year of business, Nike is now worth over 30 billion.

Iconic Shoes

Since those early years, the brand has grown to include everything from everyday apparel to high-intensity sports equipment, though even after more than fives decades, the company is still known for one thing — its shoes. And what can be found on each pair? Why, the signature Swoosh, of course.

The Swoosh

It might not seem like much, but since its creation in 1971, the Swoosh has become one of the most recognizable logos in the world. As such, it's also become a major selling point for attracting top-tier talent to the brand.

Sponsorship Deals

In fact, sponsorship deals are now one of Nike's primary means of advertising, as repping the Swoosh has become a mark of greatness among big-name stars. With celebrity athletes, professional teams, and even comedians sporting Nike, it's no surprise that the brand has become the world's premier sportswear company.