Michael Jordan was drafted by the Chicago Bulls, third overall, in 1984. For his first-ever contract in the NBA, he signed a seven-year, $6.3 million, as per Sportrac. This brought his average salary to approximately $455,000 per year. With shoe deals incoming as well, he looked towards Adidas, initially the favorite to get his signature. In response, along with $500,000, Adidas also offered a Red Mercedes 380SL, a very popular car worth $40,000, in a colorway to complement the Bulls. Yet, Jordan turned down the company just days later, signing a unique contract with Nike instead. Today, it is the reason he earns $6 million from the brand every 8.6 days, as per the Boardroom.
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Michael Jordan very much wanted the Red Mercedes Adidas added to the contract they offered him. However, the deal he got from Nike proved to be groundbreaking. Along with $500,000 dollars per year, the sportswear brand also offered Jordan royalties on his merchandise. Specifically, he would be entitled to 5% of the sale, of any product with his name on it. This promptly changed the Jordan family’s mind.
Michael Jordan’s NBA rookie deal is more than tripled every month by Nike
Days after he signed his rookie contract in the NBA, 39 years ago, Michael Jordan sealed the deal with Nike as well. Perhaps the best decision he has ever made; basketball’s greatest of all time now earns $6,000,000 every 8.6 days from Nike, just $300,000 shorter than what he earned in his first seven years in the NBA.
“MJ (Michael Jordan) earning roughly $6 million from Nike every 8.6 days. is WILD”
To this day, Michael Jordan’s percentage of royalties remains at 5%. However, over the years, it has netted him as much as $19 billion in just 5 years. It is no wonder he can keep his very expensive lifestyle going without a care in the world.
Michael Jordan’s net worth is now a whopping $3.5 billion, an amount of money that entire groups of people often don’t earn throughout their cumulative lifetimes. Truly, it may be the safest thing in the world to say that signing with Nike was the best decision he ever made.
Jordan’s 2022 earnings have left LeBron James embarrassed
Michael Jordan and LeBron James stand among the very few NBA personalities who are billionaires. However, even between them, the gap in the amount of money they make is beyond chasmic.
In 2022, Michael Jordan earned $256,000,000 from Nike alone. In that same time period, LeBron James earned approximately $119,500,000 from all possible sources he earned money from. Simply put, Jordan more than doubled James’s total annual income, with nothing more than the money he receives from Nike.
The more it is put into context, the better MJ’s decision 39 years ago seems to become.
