Shaquille O’Neal showed up to a meeting with Nike wearing head-to-toe Reebok

Michael Jordan’s mother persuaded him to meet with Nike instead of Adidas

Michael Jordan wore Converse when he played at UNC Chapel Hill, but always wanted to wear Adidas when he went to the NBA. He tried to get Adidas to match Nike's $2.5M deal, but Adidas wouldn’t do it.

Nike only paid $35 for its famous swoosh logo—and cofounder Phil Knight didn't like it at first.

Kanye abruptly left Nike in 2013 and took his Air Yeezys to Adidas for $10M

In 2009, Kanye West became the first non-athlete Nike produced a signature shoe for. However, Kanye left Nike for the company’s rival, Adidas, just a few years later. Kanye said Nike was stifling his creative vision, and he felt like he wasn’t getting enough royalties.

Nike was almost named ‘Dimension Six’

Jeff Johnson, the company’s first full-time employee, said the name came to him in a dream just before Blue Ribbon Sports filed a patent for the “Nike” football shoe. Nike cofounder Phil Knight wanted to name the company “Dimension Six,” but was ultimately convinced that a one-word name would be better. (Some users may experience a paywall.)

The first shoes Jordan got from Nike were against NBA regulations

The initial mockups Nike gave Jordan were entirely black and red. The NBA had strict rules around shoe color at the time that these colors violated. The story goes that Nike paid the $5K fine for each game that Jordan wore the shoes in, but there’s no photographic evidence that Jordan ever wore them in a game at all. Regardless, Nike created the “banned” ad, capitalizing on the controversy.

The business plan for Blue Ribbon Sports came from a Stanford assignment

Nike cofounder Phil Knight’s original idea was to begin selling Japanese shoes, which were cheaper and just as light and durable as the leading German shoes from Adidas and Puma, at a lower price in the American market. His last assignment in business school at Stanford became the original business plan for Blue Ribbon Sports.

Nike's Phil Knight ran for Bill Bowerman at the University of Oregon before they became business partners

They became business partners when Knight tried to sell the Onitsuka Tigers to Bowerman for the Oregon track team. Bowerman told Knight he didn't just want the shoes; he wanted in on the whole deal.

Nike couldn’t sign legendary distance runner Steve Prefontaine due to regulations

Because of amateur running regulations, Prefontaine—who held every American running record from 2,000 to 10,000 meters at the time—couldn’t do a paid endorsement for Nike. So Nike’s Phil Knight decided to give him a $5K yearly stipend and print business cards that said Prefontaine was the “National Director of Public Affairs.” When asked what that meant, Knight said, “it means he can run fast.”

Nike made retailers pay for Air Jordans upfront to guarantee stock

Instead of paying for the inventory sold, Knight locked retailers into iron-clad agreements, where the companies would pay upfront for Nike inventory (but at a 7% discount). Knight did this to leverage debt, allowing retailers a better chance at getting the wildly popular Air Jordans.

One of Nike’s most transformational executives started out as its lawyer

Rob Strasser helped settle a lawsuit against Onitsuka Tiger when Blue Ribbon Sports became Nike and stopped distributing the Japanese shoes. Strasser then became a powerhouse at Nike credited with saving the company from going under in the 1970s, before leaving the company in 1987.

Nike started out as a Japanese shoe distributor called Blue Ribbon Sports

Nike cofounder Phil Knight’s first business venture was distributing Onitsuka Tiger running shoes in America. Knight would drive to track meets and sell the shoes out of the back of his car.

Nike went public in 1980, and the first share sold at $22

Nike stock plummeted in the four years that followed the company’s initial public offering (IPO). The company’s deal with Michael Jordan in 1984 ultimately revived investor confidence.

Nike cofounder Phil Knight once taught accounting classes at Portland State University

Before Nike took off, Phil Knight taught accounting classes at Portland State. He met two very important people there: his wife Penelope and Carolyn Davidson, who designed Nike’s logo.

Nike is one of the world's most recognizable brands, partly due to its 'swoosh' logo.

Watch Bill Nye discuss biomechanics and sustainability while shopping for sneakers

While exploring sneaker history and technology, Nye covers the science of structural design, air bubbles and materials, including algae foam. He once voiced a 20-minute guided run on the Nike Run Club app.

Chuck Taylors were once the definitive basketball sneakers

Before Michael Jordan and the Air Jordans became the iconic shoe of the league, Chuck Taylor high tops were considered the best basketball sneaks. Need proof? The 1936 US Olympic team wore matching Converse.

Bill Bowerman’s daughter-in-law found the waffle iron he used to create a breakthrough shoe

Nike cofounder and University of Oregon track coach Bill Bowerman poured polyurethane into a waffle iron for his first attempt at creating the revolutionary waffle-knit sole. The waffle iron, which was found in his backyard, now sits in Nike’s headquarters.

Bill Bowerman got the idea for the breakthrough waffle-knit running shoe from a waffle iron

Nike cofounder Bill Bowerman was trying to find new ways to create traction for his runners on artificial turf. He looked at the waffle iron and realized that the pattern would work for the shoes’ soles.

David Stern reimagined the NBA Draft to make it more competitive

When David Stern took over as commissioner in 1984, he watched multiple teams lose on purpose to get the top pick in a stellar draft class. The next season, Stern changed the process to a lottery, where every nonplayoff team has an equal chance at the first pick.

Nike’s labor practices became controversial in the 1990s—leading to widespread protests of the brand

In the 1990s, Nike came under fire for its use of factories with unsafe working conditions and child labour to produce its products. While Nike didn’t own the manufacturing sites, many people felt Nike was ultimately responsible for using sweatshops in countries like Vietnam and Thailand.

Nike’s slogan was inspired by a death row inmate’s last words

Advertising superstar Dan Wieden of legendary advertising agency Widen+Kennedy said he got inspiration for Nike’s “Just do it” from an inmate’s last words on death row. Wieden said the way the inmate talked about facing uncertainty inspired him.

A new logo helped the NBA stay relevant in the '70s

In 1967, the American Basketball Association was formed, featuring a flashier style of offense. The competition caused player salaries to rise in both leagues. After watching Major League Baseball unveil its new logo, the NBA decided to use the same designer to create an iconic logo for the league. It debuted in 1971 and reignited basketball fans' interest.

The NBA, explained

From humble beginnings in 1891, basketball transformed into the global juggernaut we know today. The NBA, established in 1949 and later revitalized by Commissioner David Stern in the 1980s, became a model for sports branding, player marketing, and international expansion.

A NASA engineer came up with the idea for the air-cushioned Nike Air shoes

Frank Rudy came to Nike with the idea of using air capsules in the soles of running shoes to provide better cushioning. The first shoe with this technology, the Tailwind, came out in 1979.

Nike made $126M in the first year of Air Jordan sales

The first pair of Air Jordans hit shelves in 1985 for $65. The company expected to sell $3M worth of shoes in the first three years, but ultimately blew past that goal in the first year of sales.

David Stern brought the NBA to China

In 1987, he started shipping VHS tapes of games to state-run TV stations in China, and opened an NBA office there by 1992. Today, China is the league’s second-largest market.

Colin Kaepernick’s ad with Nike won an Emmy

Colin Kaepernick’s 2018 “Dream Crazy” ad with Nike became a controversial touchpoint for American politics. While many liberals applauded Nike for siding with Kaepernick’s BLM protests, many conservatives boycotted and criticized the company.

The inclusion of NBA stars in the '92 Olympics changed basketball's global standing

The Olympics finally permitted professional basketball players to play in 1992 Summer Games and the NBA produced one of the greatest basketball teams ever assembled: The Dream Team. Billions worldwide watched Jordan, Bird, and Magic dominate to win gold, inspiring future Hall of Famers and increasing the NBA's viewership.

Beat Generation iconoclast William S. Burroughs once appeared in a Nike ad, singing the praises of 'new technology.'

A 2004 brawl led to a strict dress code for NBA players

After the Malice at the Palace brawl between the Indiana Pacers and the Detroit Pistons, Commissioner David Stern wanted to tamp down the league's bad-boy image, instituting a business casual dress code for all players on the sidelines and at team-sanctioned events.

Bill Bowerman brought running for fitness to America

Nike cofounder Bill Bowerman once cowrote a book with a doctor, W.E. Harris, called “Jogging.” Published in 1967 by New York, Grosset & Dunlap, it introduced America to the idea of running for health, instead of just sport—and kicked off the fitness frenzy of the 1970s that fueled Nike’s early success. (Some readers may experience a paywall).

The longstanding bond between the NBA and anime

Japanese anime and the National Basketball Association may not have obvious similarities, but fans have long noticed the shared themes of heroic accomplishment and intense competition. Both NBA players and fans draw inspiration from anime, comparing dramatic basketball moments to well-known anime scenes.

The original basketball was hand-sewn

When the first basketball landed in a peach basket in 1891, it didn't look like the leather Wilson ball you see on today's NBA courts. The basketball evolved from the nondribbling days, when a hand-sewn ball with stitching like a football was used.

These famous brands used to have different names

Did you know that Nike used to be called Blue Ribbon Sports? Or that Google was originally named BackRub? Getting a brand's name right is a tough job; there's an entire cottage industry of brand naming agencies to prove it. See which brands got it right the first time—and which ones might be better off with their current names—in this article.

The most expensive shoe ever sold is from Nike

A prototype of Kanye’s Air Yeezy’s from 2008 sold for $1.8M in 2021. Kanye West wore the shoes at a Grammys performance in 2008, and they became one of the most sought-after samples in sneaker history.

David Stern had a hand in starting the WNBA

For years, NBA Commissioner David Stern had been planning for an NBA-supported women’s basketball league. When the US Women’s Basketball Team captured gold at the 1996 Olympic Games in Atlanta, he began putting them into motion.

The Beatles once sued Nike

Nike used The Beatles' "Revolution" in an ad, sparking a $15M lawsuit over the song's use. While The Beatles and Nike ultimately reached an agreement, Nike ushered in the modern practice of using hit songs in advertisements, as opposed to jingles or covers.

Tony Hawk often doesn't get recognized in public

Tony Hawk is frequently misrecognized—partly because he's older now and his legal name is Anthony—with strangers often telling him he "looks like Tony Hawk" without realizing he is, in fact, the famed skateboarder.

In 2024, the league signed a 11-year deal with Disney, Amazon, and NBC Universal

The $2.2B deal was widely applauded in the media, but the Players Association questioned how the NBA arrived at the valuation and why the deal gives players less than 10% of total revenue compared to the NBA’s 50%.

The forgotten Larry Bird punch that almost changed everything

Larry Bird biographer Keith O'Brien argues March Madness as we know it today began in 1979, with an electric, raucous game that's largely been forgotten. Thankfully, he's dredged up the details (and the footage) to help us relive it.

Tony Hawk's rise from outsider to skateboarding legend

In this podcast, Tony Hawk discusses his path from being an outsider in a niche sport to becoming skateboarding's most recognizable figure—reflecting on competition dominance, business ventures, and lessons learned throughout his career.

Read the New York Times Magazine’s 1985 cover story on Basquiat

The profile, entitled “New Art, New Money,” captures the artist in the middle of his rise to fame. It also hints at some of his frustrations with that position. In talking about the demands a gallery placed on him, he said, ''I wanted to be a star … not a gallery mascot.'' (Some readers may experience a paywall.)

Larry Fink cofounded BlackRock with a $5M investment from Blackstone cofounder Stephen Schwarzman in 1988, before officially severing ties with Blackstone in 1994.

NBA players are the best paid athletes in major US sports

The NFL is the most valuable pro league in the world, but its players aren’t making nearly as much as NBA players. This CNBC video dives into how league structure, salary cap, and guaranteed contracts define how much an athlete will make, and shows how NBA players are able to use those to get almost double the average annual salary of other pro leagues.

7 angel investors funded Google in its early days

Entrepreneur Shaan Puri shares how seven strangers acted as Google’s earliest angel investors. The first gave Google $100K without even putting his equity agreement in writing. The investors on “Shark Tank” use their personal funds to support startups, but they’re often more predatory about terms than typical angels.

Ray Kroc proposed the idea of franchising McDonald's as a way to sell more of his Multimixers 7 years before buying the McDonald's brothers out of the company for $2.7M.

Some Nike shoes are actually making runners too fast

In 2018, Kenyan runner Eliud Kipchoge lowered the world marathon record to 2:01:39 in a pair of Nike Vaporflys. The unusually thick running shoes sparked controversy around the shoe regulations for professional runners.

Shohei Ohtani's interpreter allegedly stole $16M for gambling debts

Ippei Mizuhara first met Shohei Ohtani during the two-way star’s rookie year in Japan. Ten years later, Mizuhara, who had become a trusted friend and confidant to Ohtani, is alleged to have stolen $16M from his employer to repay gambling debts.

Unlike other franchises, the McDonald's Corporation owns the land and the buildings of individual stores, and franchise owners lease those assets—resulting in McDonald's often being called a real-estate company.

Christian Laettner's iconic game-winner, 'the Shot'

It has been over 30 years, but one buzzer-beater continues to make the highlight reel every year: "the Shot." Everyone has seen Christian Laettner nail his jumper from the free-throw line as time expires. But how did Duke get there? This March Madness video starts with 37 seconds left in the Elite Eight game against Kentucky in 1992 and goes through each lead change until the final buzzer.