Michael Jordan is one of the greatest ever to have graced the game. Throughout his stellar career, Jordan has dominated the courts, winning six NBA championships with the Chicago Bulls. The NBA legend has amassed a vast fortune from endorsements and partnerships. But perhaps the most iconic of those partnerships have been Michael Jordan’s deal with Nike.
Since the launch of Air Jordan in 1984, the world had been taken by storm. Nike’s sales skyrocketed overnight, and the NBA changed forever. The Jordan brand continues to earn MJ millions every year and constitutes about 11% of Nike sales today. So exactly how much of Nike does Michael Jordan own?
When did Jordan sign his Nike deal?
Michael Jordan was offered his Nike deal in his rookie year in the NBA. Although MJ was inclined to sign with Adidas at first, Jordan ended up sealing the deal with Nike.
Back in 1984, the sportswear world was dominated by Adidas, but Jordan’s deal would go on to turn the tables. Nike offered Jordan $500,000 for five years, and MJ accepted the offer.
But the launch of the shoes stirred controversy across the NBA when Jordan first wore them on the court. Back then, the NBA only allowed athletes to wear white shoes. Jordan’s first iconic ‘Air Jordan’ featured red, black, and white, symbolizing the Chicago Bulls. MJ was fined $5,000 every game he wore Air Jordan, and this spurred a media craze over the iconic shoes.
The first Air Jordans were launched in 1985 in retail shops, and the rest is history. In the very first year of its launch, Nike sold over $125 million worth of Air Jordans. To date, Jordan Brand remains one of the most important productions of Nike.
Does Nike still pay Michael Jordan?
Yes, Michael Jordan still owns his royalties of Air Jordan and is said to earn an estimated 5% on every Jordan sale Nike makes. As of today, Michael Jordan has earned over $1.4 billion from the Jordan brand till date. His yearly revenues are said to amount to over $60 million every year.
It is incredible how even today, the Jordan brand continues to be one of the leading sales for Nike. Over the years, the brand value has escalated, and according to recent records, it has increased 31% between 2021-22. The timeless designs have held a special place in the hearts of fans over the years.
How much of Nike does Jordan own?
Although the original percentage of Jordan’s share in Nike is not widely known, it is estimated to be about 5% of every Nike Jordan sale made. Back in 1984, when Nike allowed Jordan to make his own line of signature shoes, Nike had only projected to make $3 million worth of sales.
Incredibly, Air Jordan sold over $126 million worth of shoes in the first year of its launch. As of today, Jordan brand approximately totals over 11% of Nike sales.
An all-time great, MJ is one of the richest sports personalities in the world. With a staggering $1.7 billion net worth, Jordan is a massive global icon.
Michael Jordan’s iconic partnership with Nike has further cemented his presence across the sporting world. Even today, Jordan continues to add to his vast wealth earning millions every year from Nike’s Jordan brand.
FAQs
Q. When did Nike sign Michael Jordan?Michael Jordan signed with Nike in 1984.
Q. How old is Michael Jordan?Michael Jordan is 60 years old.
Q. How many rings has Michael Jordan won?Michael Jordan won 6 Championship rings during his NBA career.
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