Spencer Haywood is an American Former Professional Basketball Player. He has a Net Worth of $5 million. Spencer Haywood had a career spanning from 1969 to 1983 in the NBA, during which he competed for several teams, such as the Seattle SuperSonics, New York Knicks, Los Angeles Lakers, and Washington Bullets. Read more to know about Spencer Haywood Net Worth, Lifestyle, Career, and much more.
Prior to his NBA tenure, Haywood achieved a gold medal with the US men’s national basketball team at the 1968 Summer Olympics held in Mexico City. Did anyone think that something great could come from the very poor Silver City? Most likely not. But amazingly, we have seen something really good and special come from there, and that special thing is Spencer Haywood.
What is Spencer Haywood Net Worth?
Spencer Haywood, who has an estimated net worth of $5 million, has accumulated his riches through various ventures, including acting, entrepreneurship, and his famous career in the NBA. A popular personality in the advertising industry, he has also landed a number of successful sponsorship deals over the years. Amazingly, he is still revered as one of the most legendary individuals in NBA history at the age of 72. A monument to his lasting influence in the sports and entertainment industries.
|About Spencer Haywood
|Date of Birth
|Apr 22, 1949 (73 years old)
|Place of Birth
|Silver City, Mississippi
|$0.2 Million +
Spencer Haywood Net Worth Growth
|Net Worth in 2023
|Net Worth in 2022
|Net Worth in 2021
|Net Worth in 2020
|Net Worth in 2019
What are Spencer Haywood’s Assets?
Despite numerous accomplishments and remarkable achievements, Spencer Haywood’s career faced its share of challenges. One pivotal moment came when he was approached by a fledgling shoe company called Nike, which presented him with a tantalizing choice. Haywood had to decide between receiving a straightforward $100,000 cash payment or securing a 10% stake in the entire company. While many might unquestionably opt for the 10% share, Haywood chose the $100,000 cash offer. This decision made him the first NBA player to strike a shoe deal with Nike, marking a groundbreaking moment in sports marketing.
In hindsight, it’s clear that Haywood had the potential to become one of the wealthiest individuals globally if he had accepted the 10% offer, which would be worth an astonishing $8.6 billion today. However, in 1971, who could have foreseen that Nike would evolve into the incredible corporate giant it is today?
In recognition of his outstanding contributions to basketball. Spencer Haywood was inducted into the Naismith Memorial Basketball Hall of Fame 2015. This distinction ensures that his name and legacy will always be honored and remembered whenever he is introduced or celebrated.
Spencer Haywood Career
Spencer Haywood was appointed No. 30 overall by the Buffalo Braves in the 1971 NBA draft. He won an NBA championship in 1980. He was also the most valuable player in American Basketball Association in 1970. Spencer Haywood has been four times the NBA “All-Star”, the ABA “All-Star” and also the All-Star Game MVP. He won a Gold medal in the 1968 Mexico City Olympic Games. His #24 was retired by the Seattle SuperSonic in 2017. He was also named “Rookie of the Year”.
Bringing your attention to the “Spencer Haywood rule”, despite a well-accomplished ABA and NBA career, he will always be commemorated as the man who opened the door for underclassmen college basketball players to leave the college early and play in the pros. He manifested to be one of the NBA’s most dominating forces achieving an average career of 9.3 rebounds and an astonishing record of 19.2 points per game.
Spencer Haywood Personal Life – Relationships
He married Iman, a fashion model in 1977 and had a princess named Zulekha Haywood. This bond could not survive long and ended in 1987. He remarried Linda Haywood in 1990 and the two have three children named Shaakira Haywood, Isis Haywood, and Courtney Nikkiah Haywood.
|Linda Haywood, Iman
|Zulekha Haywood, Shaakira Haywood, Isis Haywood, Courtney Nikkiah Haywood
Spencer Haywood – Nike Deal
During the early stages of his playing career, Spencer Haywood received an enticing proposal from a budding shoe company known as Nike. They sought his endorsement and presented him with a decision: he could either take $100,000 (equivalent to roughly $500,000 today) upfront or opt for a 10% ownership share in the company.
Unfortunately, Spencer chose the immediate $100,000. Regrettably, had he chosen the equity offer, his current net worth would far exceed $10 billion, including dividends.
Haywood vs National Basketball Association
In 1969, when Spencer Haywood signed with the Seattle SuperSonics, he found himself in violation of an NBA regulation that stipulated players had to be out of high school for at least four years before joining the league. Faced with potentially severe consequences, Haywood made the bold decision to challenge the NBA’s rules. He, along with SuperSonics owner Sam Schulman, initiated an antitrust lawsuit against the league. Their argument was that this policy constituted an unfair restriction on trade, thus violating the Sherman Antitrust Act.
The case proceeded all the way to the Supreme Court, which ultimately upheld the injunction previously issued in Haywood’s favor by the US District Court for the Central District of California. Following this legal victory, Haywood and the SuperSonics reached an out-of-court settlement, allowing him to continue his career in the NBA.
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In summary, Spencer Haywood, the former NBA star, currently boasts a net worth of $5 million. His career, spanning from 1969 to 1983, included stints with iconic teams like the Seattle SuperSonics and the Los Angeles Lakers. Despite missing out on a potentially monumental Nike deal, Haywood’s legacy in both basketball and entrepreneurship remains noteworthy. Inducted into the Basketball Hall of Fame in 2015, his journey from Silver City, Mississippi. To sporting stardom underscores his lasting impact and financial success.