Skateboarder Tony Hawk performs a trick as his role as an ambassador for shoe company Vans.
Vans
STOCKHOLM — Skateboarding legend Tony Hawk once turned down half a million dollars in future royalties from the popular video game Pro Skater — and he says it was the “best financial decision” of his life.
Hawk was offered $500,000 in a one-time buyout deal for use of his name and likeness for Activision’s Pro Skater title, which was released in 1999.
Speaking at the Techarena technology conference in Stockholm on Thursday, Hawk said that, when he received the proposal, it “didn’t seem like a real number to me.”
He ultimately decided to turn it down, citing success in both his personal and professional life as giving him the boost to take the risk and bat away the bid.
“I had a family, I had just bought a new house, and I felt like I could afford the mortgage. And I thought, I’m doing pretty well in my life outside this video game project,” Hawk said.
“And so I thought, I can afford to take a chance. And so, that was the lucky timing of it, so I turned it down. That was absolutely the best financial decision of my life,” he added.
Hawk instead negotiated a royalty arrangement under which he would receive a cut for every copy sold.
“That was a much better deal,” Hawk said, adding: “It’s probably one of the reasons why I’m here today.”
Right after Hawk turned down the check, Activision mentioned a sequel to the game — meaning Hawk’s earnings would continue.
The licensing agreement between Hawk and Activision, which is now owned by tech giant Microsoft, ran for 16 years until 2015.
Ultimately, it paid off: the Pro Skater franchise has gone on to generate more than $1.4 billion in sales since its launch, skyrocketing Hawk’s career.
The athlete has been skateboarding since the 1970s and was widely regarded as the best skateboarder in the world by the age of 16.
But it wasn’t until the publication of his video game that he became seriously famous. Today, his name is practically synonymous with skateboarding and the culture that surrounds it.
He invented numerous skateboarding tricks, including the Madonna, the rodeo flip, the airwalk, the Kickflip McTwist, the 720, the door-opening, and the internationally televised 900.
WATCH: Tony Hawk on making skateboarding a ‘genuine career’ at the age of 16
Credit: Source link
