In 1993, when Michael Jordan was towards completing his first three-peat with Chicago Bulls, tragic news tumbled his whole world down. Michael’s father, James Jordan, was murdered by two teenagers in a carjacking on July 23 of that year. Two months after the incident, Michael decided to retire. He had also considered retirement after winning his first championship in 1991. However, the potential income from his endorsement deals was a large reason for Jordan to decide against retiring, according to The Jordan Rules, by Sam Smith. Michael Jordan has made $1.3 billion in endorsements, especially from his deal with Nike.
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Although his 18-month stint in baseball did not harm him as for endorsements, Jordan recovered and returned in 1995 to win another three-peat quickly.
Michael Jordan was deeply affected by the death of his father in 1993
His father’s death, James Jordan, was like a tragic bolt that struck Michael. He had never imagined a situation like this to crop up. Michael’s father had already suggested he retire after his first championship.
However, given his concerns with endorsement money, Michael decided to hold back on that thought:
“Jordan wasn’t feeling nearly so sanguine about life in the NBA, and his talk about five more years masked even deeper doubts. He had gone so far as to discuss with David Falk whether he could quit after the 1990–91 season, at least for a year. ‘There are two problems, though,’ he said. ‘One is my endorsements. I told him I’d do it if he could find a way to keep my endorsement money coming. Of course, the Bulls would probably sue. But I’m more worried that if I quit for a year, I’ll never want to come back.'”
So, Michael chose not to and won two more championships till 1993.
Both James Jordan and Michael had a similar dream of playing professional baseball. Perhaps, James’ death might have given Michael a sense of realization about his father’s aspirations. Michael left basketball for 18 months in 1993 to play professional baseball. He played for Chicago White Sox’s minor league affiliate team Birmingham Barons.
Perhaps, Michael Jordan would have lost out on his current $1.3 billion earnings from endorsements had he not returned to basketball. After making an impressive feature even in baseball, Michael returned to the NBA through a two-worded press release: “I’m back.”
Since then, history has witnessed Michael’s greatness even further. He went on to win another three-peat from 1996-1998 with the Bulls. In his fifth game after returning, Michael scored 55 points against New York Knicks at Madison Square Garden.
Jordan’s decision helped him earn billions
Jordan always had a knack for making smart moves in his businesses and endorsements. He fully understood the importance of his image and how it continues to hold great value even now.
Michael Jordan is now in his 60s. However, the Nike deal from 1984 still earned him $256 million in 2022. That is almost thrice the money he made during his 15-year career.
Michael has also made over $1.3 billion in revenue from the Air Jordan deal. This number is expected to go up to $1.6 billion, given sales and revenues remain profitable for Nike in 2023.
