NBA players are some of the best celebrities to endorse a brand or product. As a result, it isn't surprising that many major brands are willing to pay millions for players to promote their products or services.

Because of this, not only do NBA players earn lucrative paychecks from their NBA teams, but these endorsement deals further allow players to earn millions on the side. But while this gives NBA players a chance to earn more, unfortunately, there are times when they also fumble the bag in terms of endorsement deals.

Since brands decided to partner up with NBA stars, there have been plenty of reasons ranging from scandals off the court to business decision-making mishaps that have negatively affected these basketball stars' financial status. Let's take a look at 10 NBA players who fumbled the bag on endorsement deals.

Spencer Haywood – Nike

Back in his playing days, Spencer Haywood was easily a double-double machine. Given his major impact in the NBA, it wasn't surprising that Nike came knocking on his door for a shoe deal.

Around that time, Nike was yet to be the sports giant it is today. However, Haywood kept an open mind by entertaining the offer of $100,000 or 10 percent of Nike's shares. The NBA champion opted for the former because of his agent.

Fast-forward to today, those shares are worth $2.8 billion. As a result, Haywood passed up the chance to become the first NBA billionaire even before Michael Jordan.

Magic Johnson – Nike

It wasn't only Spencer Haywood that was the only NBA star who fell victim for his lack of knowledge for stocks. In fact, former Lakers superstar Magic Johnson also had a chance to become a billionaire with Nike.

Approached by Nike and Converse, Johnson was offered cash by the latter and a deal that involved stocks by the former. Unfamiliar with stocks, Johnson chose to take the cash offered by Converse.

Fast-forward to today, those stocks are now worth $5.2 billion. Although Johnson is having a great post-playing chapter, the five-time NBA champion continues to regret turning down Nike's billion-dollar offer to this day.

Shaquille O'Neal – Starbucks

Known as The Big Diesel, Shaquille O'Neal found plenty of success in the NBA by winning four NBA championships. Years later, after a fruitful basketball career, O'Neal has emerged as a successful business mogul with plenty of lucrative investments under his name. However, O'Neal does admit if there's one business mistake that he made, it was when he passed up on jumping in the Starbucks' worldwide ascent.

Back in the day, former Starbucks CEO Howard Schultz approached the Big Diesel to become an endorser and investor of the coffee brand. Not sold to the idea of coffee, O'Neal declined to put his money and efforts onto Starbucks.

However, Starbucks became a major coffee brand around the world today. Turning down the offer forced O'Neal to miss out on millions of dollars.

Cade Cunningham – BlockFi

During the 2021 NBA Draft, Cade Cunningham was selected in the first round with the first overall pick. As the top lottery pick, it isn't surprising that he received offers from various brands, including cryptocurrency exchange firm BlockFi. Curiously, Cunningham signed his endorsement deal with the signing bonus paid in bitcoin.

But just roughly a year later, BlockFi filed for bankruptcy. Based on reports, Cunningham is estimated to have only kept 33.8 percent of the signing bonus.

Lonzo Ball – Nike, Under Armour, and adidas

Coming out of UCLA, Lonzo Ball was easily one of the top prospects for the 2017 NBA Draft. As a result, it was only natural that major shoe brands such as Nike, adidas, and Under Armour were willing to enlist the elite prospect into their endorsement roster.

In fact, they were willing to offer him a deal that hovered around $10 million, as per reports. However, Ball's father LaVar decided to turn down the offer for his son, as the Ball patriarch went on to start his own shoe brand called the Big Baller Brand.

Kyrie Irving – Nike

Kyrie Irving is easily one of the best basketball players in the world thanks to his superb ballhandling and scoring. However, his perceptions and views off the court have been often controversial.

From his flat-earth sentiments to his stance on the COVID-19 vaccine, Irving found himself in hot water for his statements of antisemitism. This ultimately led Nike to cut ties with the Mavericks guard.

Originally, Irving was making $11 million on an annual basis from Nike. Furthermore, the brand was expected to extend his shoe deal. But with the controversy, Irving possibly blew tens of millions of dollars, based on reports.

Kobe Bryant – McDonald's and Nutella

The late Kobe Bryant is easily one of the most respected names by basketball fans around the world. However, Bryant did find himself entangled in controversy in 2003 when he was accused of rape.

The case played a huge part in nearly derailing Bryant's NBA career. In fact, several brands, including McDonald's and Nutella, decided to call off their partnership with the Black Mamba.

Gilbert Arenas – adidas

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At his peak, Gilbert Arenas was nearly unstoppable on one-on-one situations thanks to his explosive scoring. But while he excelled on the hardcourt, Arenas was also notorious off the court thanks to his antics.

Arenas made headlines for the wrong reasons in 2009 when the All-Star guard brought guns into the locker room. This resulted in a felony charge against Arenas. Not wanting to be associated with the controversy, adidas also terminated its eight-year, $40 million deal with the former Washington Wizards guard.

Ja Morant – Hulu and Powerade

Speaking of controversial gun incidents, Ja Morant surely made a mess for his gun-related content on social media. His controversial behavior led to two suspensions by the NBA.

Furthermore, this also placed pressure on his ongoing endorsement deals with Nike, Hulu, and Powerade. Although Nike has already announced that the brand is sticking with Morant, no official news have been revealed for Hulu and Powerade.

But with Hulu and Powerade already removing Morant from their social media platforms, it's safe to say that the Grizzlies star is at least losing plenty of money from his deals with the two brands, though there's still hope that the brands have yet to terminate his contract with them.

Josh Giddey – Weet-Bix

Considered to be one of the top Australian prospects, Josh Giddey has shown that he belongs in the NBA, especially after becoming the youngest to tally a triple-double. However, late in 2023, things took a turn for the worst when it was discovered that Giddey allegedly engaged an intimate relationship with a minor.

The Oklahoma City Thunder guard is currently under investigation, which prompted cereal brand Weet-Bix to remove all of their marketing content that featured Giddey. While it seems that Weet-Bix has yet to cut all ties with Giddey, the Australian prospect is surely losing out on plenty of revenue thanks to the controversy.