Nike co-founder reveals how the brand was created and who designed the famous logo

Nike co-founder and chairman Phil Knight has been called the most powerful man in sports, changing the way the world works out and making athletes of all ages feel like they can be a champion. But long before "Just Do It" became a household phrase and before the iconic swoosh was instantly recognizable, Phil was just a boy from Portland, Oregon, who dreamed of playing in the majors.

– Up until the time I was 14 years old, I was sure that I was going to be a big-league baseball player. But that dream came to a rude awakening when I got cut from my high school baseball team – he says. So instead of the baseball diamond, Phil took to the track. In 1955, he enrolled in the University of Oregon, where he ran track for renowned coach Bill Bowerman, Oprah.com writes, as reported by the Laguna portal.

Phil calls Bill "the greatest track coach that ever lived," but aside from their love of running, they also shared the belief that the existing track shoes were slowing runners down. So Phil began importing better-quality running shoes from Japan, and in 1964, with a handshake and USD 500 apiece, Phil and Bill launched Blue Ribbon Sports.

In the early years of the company, Phil sold shoes out of his car at track meets. Then, in 1972, Phil and Bill began manufacturing their own shoes. Bill used his wife's waffle iron to create a shoe with greater traction than those currently on the market.

– The idea was that we can make shoes that runners want – Phil says.

The new design revolutionized running and inspired Phil and Bill to rename their company. Phil says one of his 45 employees suggested the name Nike, which was the name of the Greek goddess of victory.

– There was also a missile, which we thought denoted speed, and then the marketing textbooks say to have a hard sound in your trademark – Phil says. Though he wasn't a huge fan of the name at first, Phil says it has grown on him.

– I quite like it now.

The Nike swoosh came about in a similar fashion.

– Now that we had a name, we had to have a trademark for the side of the shoe. It was 1971, and Ford had spent USD 2 million getting a trademark. We didn't have USD 2 million, so I went by the graphic arts department at Portland State, and there was a woman there saying, 'I don't know how I'm going to get enough money for the dress for this prom' – Phil says.

– And I said, 'I have a job for you.' I paid her USD 2 an hour, and she spent 17 and a half hours. So USD 35 and she came up with what is now the swoosh.

When Nike went public in 1980, Phil says he gave the creator of the swoosh a few hundred shares of stock, which she has held onto. These shares are now worth quite a bit of money.

– She's doing okay – he says.

Bill passed away in 1999, but Phil says this legendary coach's influence on him is everlasting.

– He was a great leader and great man, and being able to be associated with him is a big part of the dream. He was about teaching you how to respond competitively to different challenges. Obviously, they were on the track, and they were about getting prepared to compete and competing well and competing better than you thought you could do, and accepting victory and defeat – Phil says.

Phil suffered another great loss in 2004 when his son Matthew died in a scuba diving accident. This kind of tragedy is something no parent should ever have to face, Phil says.

– It aged me much faster than anything you can imagine. Matt had two sons, and they are now 7 and 10. The 10-year-old's the absolute spitting image of him. They're absolutely great kids and are a huge help – he says.

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