Michael Jordan is undoubtedly the most successful player in NBA history off the court. His success on NBA hardwood led to him utilizing his marketability to perhaps even transcend the league itself. Two of the biggest factors in him earning an egregious amount of money off the court were his Nike contract and his stake in the Charlotte Hornets.
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Jordan started off his career inn 1984 with an unprecedented contract with Nike that saw him earn $500,000 a year for 5 years. He would soon outwork this contract of his despite its magnitude at the time as his Air Jordan 1s flew off the shelves, bringing in $120 million+ in the very first year.
His shoes’ sale combined with his on-court brilliance led to him earning a massive amount of endorsement opportunities with A-list brands such as McDonald’s and Gatorade. It’s estimated that from Nike alone, he’s made about $1.6 billion off the sale of Jordan Brand apparel and shoes.
Michael Jordan on his fellow NBA players feeling jealous of him
Michael Jordan sat down for an interview with Playboy in 1992 and discussed everything from his business ventures to his feud with Isiah Thomas. In the midst of it all, he was asked by his interviewer, “Other players were jealous of your success in endorsements and business dealings?”
Jordan responded by saying, “Right. But why must I squander my opportunities because those guys never got that opportunity? They don’t want me to have it and they’re going to be pissed at me if I do it? Screw that.”
Success came quick for MJ. He was the perfect candidate to be marketed to both the United States and an international audience. He was a handsome (as said by Adam Silver), eloquently spoken man who played the game in a way that resulted in highlights every single night. And he won. Quite a lot.
Michael Jordan looking to sell his Hornets stake
Michael Jordan, after having purchased the Charlotte Bobcats in 2010 for $275 million, grew the franchise to be worth over $2 billion in 13 years. He’s been the chairperson for the Hornets and its majority stakeholder for this time.
Now, it seems as though he’s looking to sell that stake of his and revert to becoming a minority stakeholder instead. He would still be one of three players in the league with stake in a team, the other two being Dwyane Wade (Utah Jazz) and Grant Hill (Atlanta Hawks).
