Michael Jordan has found much success apart from his exploits on the basketball court. And, when thinking of said success, the mind wanders toward Nike. MJ and Nike have been partners since 1984 when he signed an incredible $2,500,000 deal with the company. Since then, his Jordan brand has gone on to net him upwards of $1 billion and generated annual revenue of $5 billion for Nike in 2022. However, despite all this success, Jordan’s daughter Jasmine Jordan believes Nike low-balled her father all those years ago. Going so far as to claim, in an interview with Footwear News, he would be worth trillions given how NIL deals work today
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NIL deals are all the rage these days in the sports industry. Having recently become prevalent, these deals allow college athletes, and young athletes in general to utilize their Names, Images, and Likenesses. Essentially, they can sign deals with major brands and thus add value by bringing in some extra cash. It is a revolutionary concept and one that Jasmine believes would have taken her father’s wealth to the next level.
Jasmine Jordan claims Nike lowballed her father Michael Jordan with $2,500,000 deal
In June 2021, it was announced that the NCAA had approved an interim policy suspending rules related to NIL or Name, Image, and Likeness. It was a deal that turned the world of sports upside down, allowing young players to profit off their marketable personas.
But, players weren’t the only ones affected by this. Major companies also saw a huge increase in new marketing possibilities. Especially, given how popular college sports is in the United States. And, one person, whose job changed drastically, was Jasmine Jordan.
Jasmine, daughter of legendary basketball player, Michael Jordan, is the field rep for women’s sport marketing at the Jordan brand. And, NIL has completely changed how she deals with her work, including how she scouted players. It was great and helped with the development of sports as a whole. Plus, it also allowed Jasmine to think about how it could have possibly changed her father’s own career, how it could have changed his approach to his initial $2,500,0000 Nike deal, and perhaps it could have even made him a trillionaire.
“Maybe that first Nike deal wouldn’t have been as low as it was. It would have changed the game. He would have potentially approached his contracts with Nike differently. Looking at his Funko Pop collectibles or the fact that people still wear his UNC jersey, to reap the benefits from it today, we’re talking making trillions at this point.”
It certainly is difficult imagining what MJ’s financial well-being would have been like with NIL. But, at the end of the day, things worked out well for him. And, it is unlikely he would change anything, especially his deal with Nike.
MJ and Nike have found much success together since 1984
Michael Jordan has come a long way with Nike since signing with them in 1984. Having initially agreed to $500,000 over five years, MJ brought in a lot more than was expected. In fact, his line of Jordan shoes was so successful, that in 1997, His Airness and Nike launched the brand, a company now worth billions of dollars.
For what it’s worth, Jasmine Jordan probably had it right. Her father’s net worth would have skyrocketed if NIL deals were prevalent back in the day. But, then again, none of this would have happened if it weren’t for him.
