NBA
By SZH Desk May 15 2023
Michael Jordan, the former athlete, stands as the wealthiest in his category with a net worth exceeding $2 billion. His primary revenue stream stems from Nike.
During his rookie year in 1984, Michael Jordan's entry into the NBA made headlines when Nike secured him with a record-breaking 5-year, $2.5 million deal.
In 1997, Michael Jordan and Nike collaborated to launch the prosperous sub-division known as Jordan Brand.
Jordan's earnings from Jordan Brand alone have surpassed a billion dollars, while his annual income from Nike stands at around $256 million.
Jordan's lucrative association with Nike proved more financially rewarding than his NBA contracts combined, which amounted to $94 million.
In 2022, Jordan's earnings from his Nike deal reached approximately $256 million, nearly three times the total earnings he amassed throughout his 15-year NBA career.
Rather than receiving a fixed payment, Jordan receives royalties equating to 5% of the earnings generated by Jordan Brand.
As of 2023, Jordan's estimated earnings from his Nike deal have reached a staggering $1.6 billion.
The specific duration of Jordan's contract with Nike remains uncertain, but indications suggest it is either a lifetime agreement or will persist as long as the brand remains financially viable.
Jordan shoes are very popular and sales are unlikely to slow down anytime soon.
Jordan is a marketing genius who has built a multi-billion dollar brand.
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