How much Michael Jordan made with the Nike deal?
Michael Jordan has been with Nike since his rookie year in 1984 and both parties have not looked back since amassing millions of dollars in the process
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Michael Jordan
Michael Jordan is an icon of the sport and revolutionized branding in sports with his Nike deal in 1984. Jordan initially rejected Nike while choosing a shoe brand as he preferred Adidas and only spoke to Nike because of his parents. “By the end of year four, they hoped to sell $3 million worth of Air Jordans. In year one, they sold $125 million,” – said David Falk, Michael Jordan’s agent said, during the ‘Last Dance’ documentary.
In 2022, Jordan earned $256.1 million from Nike alone from his licensing deal in his rookie year. Jordan reaches 5% of the Jordan brand’s earnings, making him a multimillionaire yearly. The Jordan brand has also increased in value with time, increasing its total earnings by 31% from 2021 to 2022.
According to Forbes, Michael Jordan’s net worth is $1.7 billion, thanks to Nike. From shoes to all kinds of apparel, the Jordan brand has diversified since its launch in the 80’s. The Jordan brand has brought in over 15 billion dollars in the last five years alone, making it one of the biggest brands in all sports. Jordan’s decision to choose Nike in 1984 is one of the most incredible examples of a ‘butterfly effect’ in the NBA, as it has led to almost every player having their shoe line today.
Michael Jordan could become even richer with rumors of him looking to sell the Charlotte Hornets
The Charlotte Hornets have been an average franchise since their inception, and they hoped that Michael Jordan taking majority ownership in 2010 would change that. Unfortunately for the Hornets, no significant success has followed, leading Jordan towards selling the team and numerous failed attempts at a rebuild. When Jordan acquired the Hornets, he paid $175 million and will earn 1.77 billion if he sells it today.
MJ has made the Hornets a profitable organization despite the need for more success for the team. The Charlotte Hornets are one of the worst teams in the NBA this season, with their supposed franchise player Lamelo Ball being out of action for extended periods. The Hornets have won just three playoff games since Michael Jordan took over in 2010 and made the playoffs twice.
The Hornets are about to go their sixth consecutive year without the playoffs, and Michael Jordan feels it is time to cash out. Jordan has earned a lot of money thanks to the owners, as he was a 97% owner for an extended period before diversifying his shares in 2019. The Charlotte Hornets will hope their next owner can bring in some success along with the profits.
In case you missed it:
How much did Michael Jordan spend to buy the Hornets?
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Anuj Shrikanth Iyer
(290 Articles Published)