Michael Jordan is still reaping the benefits from his Nike deal, which he had signed all the way back in 1984. As of 2023, Jordan will earn $330,000,000 from the Jordan brand, which saw a rapid increase of 28.6% in terms of revenue. Forbes’ recent article further reports on Jordan’s increasing wealth, ranking him among the 400 wealthiest Americans in the United States.
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Jordan indeed came a long way from earning $500,000 a year from the Nike deal to earning multi-millions. In fact, this deal acted as a catalyst for Jordan to earn an enormous amount of money through his NBA career and beyond. Today, MJ stands as a billionaire, all thanks to his first business engagement in his signature shoe deal with Nike.
Michael Jordan is expected to earn a whopping $330,000,000 from his Jordan brand’s sales revenue
Michael Jordan’s eponymous brand has been witnessing increasing profit over the past few years. Within a year, the brand witnessed a 28.6% rise in sales from $5.12 billion in 2022 to $6.6 billion in 2023. Much of the Jordan brand’s rise in sales can be attributed to the new shoe additions such as the ‘Jordan x Spider-Man: Across The Spiderverse’ red colorway shoes and the other signature shoe collabs with NBA athletes.
Michael Jordan, who currently owns a 5% stake in the brand’s revenue, is projected to earn $330,000,000 from sales this year. This is a $74,000,000 rise in his income from Nike last year, wherein he made $256,000,000 from the Jordan brand’s revenue sales in 2022.
These earnings add further to Jordan’s increasing net worth, which currently stands at $3 billion in 2023. The Bulls legend made his biggest score this August when he sold his majority stake in the Charlotte Hornets to reach his current net worth valuation. This makes him the first athlete in Forbes’ top 400 wealthiest Americans list.
The Jordan brand signing Luka Doncic and Jayson Tatum propelled their sales further
Aside from Michael Jordan, the Jordan brand has new faces to represent the current generation. Jayson Tatum and Luka Doncic are among the two most popular athletes of the current generation to be signed with the brand. In fact, the popularity of their signature shoes, the Tatum 1s and the ‘Jordan Luka series, are the ones that propelled the sales further.
Compared to Michael Jordan, the deals the youngsters Luka Doncic and Jayson Tatum first earned were quite generous. Jordan had signed a $2,000,000 deal with Nike in 1984, which guaranteed him $500,000 for his signature shoe every year. In contrast, Luka Doncic first signed with Jordan brand for a five-year deal worth $75,000,000. However, it’s wrong to downplay Jordan’s deal, given it still earns him millions of dollars, despite being retired from the game for over twenty years.
