Michael Jordan is one of a kind for a litany of reasons. Off the court, he was the first true superstar the NBA had that could be marketed as immensely as he was. Whether it was for McDonald’s, Hanes underwear, Gatorade, or Coca-Cola, the Chicago Bulls guard was on every other billboard across the United States and soon enough, the world. MJ however, who was reported to have earned about $40,000,000 per year off endorsements, was confused at the fact that Magic Johnson and Larry Bird didn’t beat him to the punch.
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Jordan was so popular that almost every single long-form interview of his during his prime had him stating that he was tired of the limelight. He dared fans to try to be ‘Michael Jordan’ for even a day, claiming they wouldn’t be able to handle the constant pressure and attention.
While this is true, it was this attention from the rest of the world that propelled him into superstardom and allowed for him to capitalize so greatly off his endorsements.
Michael Jordan on Magic Johnson and Larry Bird’s endorsement deals
Magic Johnson and Larry Bird truly put the NBA on the map after a lackluster era in the 70s. their duels fuelled the rapid expansion of the league and were cornerstone athletes for David Stern and company. However, it was Michael Jordan who elevated the product from a nationwide level to a global scale.
During an interview with Cigar Aficionado in 2005, Jordan explain he was a bit confused at the fact that Magic and Larry never reached the point he did when it came to getting endorsements.
“We entered the league in an era when the marketing of athletes became prevalent. It became one of the biggest things. Larry Bird and Magic Johnson should have been there first. Their reputations should have given them opportunity. But they didn’t foresee it and they didn’t capitalize on it.” said MJ.
Jordan once said on the ‘Icons Club’ podcast that it was Julius Erving who taught him how to market himself properly. Erving’s mold of athlete was something he resonated with in terms of attaching himself too products and then living a life of solitude after retirement.
David Falk took 20% of Jordan’s endorsement deals
Michael credits David Falk and Donald Dell, his agents, for finding out how to market him properly and they did so very effectively. The endorsements they snagged for him were top of the line but this also meant that the money his agents were owed was also incredibly high.
It has been reported that Falk took as much as 20% of the endorsement earnings Michael Jordan made over a year during his playing days. This would mean that if MJ earned $40,000,000 a year, Falk would walk away with a whopping $8,000,000 a year for having negotiated those deals.
