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Magic Johnson Chose Converse Over Nike And Missed A Chance To Earn $5.2 Billion: Nike Offered $1 For Every Pair Of Shoes Sold And 100,000 Shares Worth $0.18 At The Time

Posted on by Phil Lam X

Magic Johnson is one of the biggest names to have ever played in the NBA, and very few players have enjoyed the hype he did coming into the NBA. Having led his college team to the NCAA championship over his rival Larry Bird in what was the most-watched college basketball game ever, Magic entered the league as the man of the moment and would go on to be Finals MVP in his rookie season as well.

Understandably, Johnson was a coveted property when it came to endorsements and there was a bit of a battle in terms of which shoe company he would sign with. Both Nike and Converse made offers to Magic and the decision came down to whether he would take stocks instead of cash, with the 19-year-old choosing Converse, who had offered him $100,000 a year at the time.

However, with the benefit of hindsight, it’s the offer that Nike put on the table that would have made him a lot more money had he chosen to go with them. The company offered Johnson $1 for every pair of shoes sold along with 100,000 shares in stock options, with the stock valued at $0.18 at the time.

When contextualized, considering that Nike stock is worth $134 today, Johnson would have $5.2 billion to his name had he decided to sign with the company. However, Converse was a bigger brand than Nike at the time, which adds some more context as to why Magic made his decision as well. 

Nike went on to explode with Michael Jordan, who did end up becoming a billionaire, thanks largely in part to his partnership with the shoe company. There were suggestions that Jordan’s rise and the hype around him and Nike were factors in souring his relationship with Magic a little in their early years, but the two went on to bond during their stint with the 1992 Dream Team. Also, considering that Magic is now worth an estimated $600 million, it’s safe to say he didn’t do too badly for himself either. 

Source: Yardbarker

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AEW Announcer Willie Urbina Fired After Mocking Longest-Reigning Women’s World Champion’s Japanese Accent

Posted on by Phil Lam X

What happened: Willie Urbina mocked the accent of Hikaru Shida, 32, who is currently the longest-reigning AEW Women’s World Champion.

  • The incident, which has now gone viral on social media, happened during a commercial break on last week’s episode of “AEW Dynamite.”
  • Co-announcer Alex Abrahantes asked Urbina to translate a promo for Shida, but Urbina instead gibbered in a mock Asian accent.
  • Co-announcer Thunder Rosa and Dasha Kuret told Urbina to stop, according to a translation for Fightful.
  • AEW has no breaks on FITE TV outside the U.S. for AEW Plus subscribers, so international viewers watching with Spanish commentary were able to hear the whole thing.
  • Shida lost to Britt Baker on Sunday’s “AEW Double or Nothing,” ending her 372-day reign, Wrestling Inc noted.

Fired: AEW fired Urbina last Saturday, just hours after the controversial broadcast, according to PW Insider.

  • Urbina, who worked for Impact Wrestling from 2006-2014, also did Spanish announcing for New Japan Pro-Wrestling.
  • AEW owner Tony Khan confirmed Urbina’s termination and apologized to Shida over the matter.
  • “I didn’t think there was any excuse. I was not happy. Afterwards, I heard what was said and having our commentators involved with what was said about her, who I also apologized to, I thought it was best for the company to make this decision,” Khan said, according to Fightful.
  • Shida responded to Urbina’s comments in English and Japanese tweets, expressing that she doesn’t care what “other people say about my race because I love it and [am] proud of it. I don’t even feel anger.”

Source: NextShark

Nike Executive Of 25 Years Ann Hebert Abruptly Leaves Company After Report Reveals Ties To Sneaker Reselling Business Operated By Her Son

Posted on by Phil Lam X

Nike Inc. executive Ann Hebert abruptly left the company following a Bloomberg Businessweek report about her son operating a business reselling sneakers and using a credit card in her name.

Hebert, who served as vice president and general manager of North America, departed Monday, effective immediately, Nike said in a brief statement. She had been in the role since last June, overseeing Nike’s sales, marketing and merchandising in the region.

The executive had spent more than 25 years with the Beaverton, Oregon-based company, which said it would announce a new leader for North America shortly.

Bloomberg Businessweek’s latest cover article explored the story of Joe Hebert, Ann’s son, a college dropout who makes a living as a sneaker reseller. Known to his customers as West Coast Joe, he started reselling streetwear in high school and now flips hundreds of thousands of dollars worth of shoes each month.

Ann Hebert didn’t reply to emailed questions for that report, but a Nike representative said the executive disclosed relevant information about her son’s business to Nike in 2018. The company said at the time that Hebert did not violate “company policy, privileged information or conflicts of interest.”

After Hebert’s departure, a spokesperson for Nike said the executive made the decision to resign. Hebert didn’t immediately respond to a request for comment on LinkedIn.

Source: Bloomberg

One Of A Kind | The Rob Van Dam Story (Full Career Documentary)

Posted on by Phil Lam X

In the late 90’s and early 2000’s there were few wrestlers on the planet more popular than Rob Van Dam. His innovative in ring style combined with his unique laid back character touched a nerve with many fans, leading to him becoming a main event player in pretty much every promotion he ever worked with. Even today, 30 years into his storied career, RVD continues to be a big name in the industry; after having his most recent run with Impact. So, how has he managed to maintain such longevity, and what has kept him going this whole time. Well, join us today as we take a deep dive into his entire career journey in, One Of A Kind: The Rob Van Dam Story.

Only 10 Cities Have Won Multiple Titles In A Year – Los Angeles Now Tied With New York For The Most

Posted on by Phil Lam X

Since 1903, 10 cities in the United States have had their clubs win multiple titles. This includes teams from seven major leagues (NFL, NBA, NHL, MLB, MLS, WNBA, NWSL).

A good deal of Los Angeles’ multiple titles were won by basketball teams. The Lakers and the Sparks won titles in 2001 and 2002.

The Galaxy have contributed the most of any Los Angeles team, with titles in 2002, 2012 and 2014 in such years. The NHL’s Kings also won championships in 2012 and 2014.

Los Angeles is the only city to have three teams win a championships in a single year – with the Lakers, Sparks and Galaxy capturing crowns in 2002.

Much of New York’s success can be attributed to its baseball teams, with the Yankees contributing four titles to multiple-title years. Since championships in 1986 by the Mets and the NFL’s Giants, New York has been dormant.

Source: LA Times

Nike’s controversial Vaporfly shoes are making runners faster — so runners sponsored by other brands are blacking them out to wear in secret

Posted on by Phil Lam X

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Vaporflys (and prototypes of them) have been involved in nearly every major running victory and milestone since 2016, and for good reason: Research suggests the design of their soles gives runners at least 4% more energetic efficiency over shoes from competing brands.

“The runner runs the race, but the shoe enables him or her to run it faster for the same effort or ability,” Geoff Burns, a kinesiology researcher and pro runner, told Business Insider of Vaporflys. “So for two athletes of equal ability on race day, the one with the shoes is going to beat the one without the shoes.”

That has led some athletes sponsored by companies other than Nike to don Vaporflys in secret. In at least three competitions, non-Nike runners have worn “blacked-out” Vaporflys: shoes covered in black permanent marker to make it difficult to spot the Nike swoosh.

Source: Yahoo

Kobe Bryant: The Life and Legacy of Basketball’s Greatest Mind

Posted on by Phil Lam X

In his 20 seasons with the Los Angeles Lakers, Kobe Bryant was the heart of the city and stands as one of the greatest NBA players of all time. For the majority of his life, basketball was the most important thing, but he was so much more than an athlete. Kobe was a husband, a father, a friend, and a mentor. It’s heartbreaking that we’ll never get to see his future dreams realized, but we can know one thing: like every other chapter in his life, it would’ve been great.