How Michael Jordan is Earning More in Retirement than He Ever Did Inside the Hardcourt
You know an athlete has secured their legacy when people still talk about them years after they’ve officially retired from the sport.
This is certainly the case with NBA icon Michael Jordan. After going down as one of the highest-paid professional athletes of all time, the basketball legend still continues to get recognition and million-dollar paychecks to this day.
In fact, his earnings post-retirement seem to eclipse the salary he commanded as a player for the Chicago Bulls and the Washington Wizards.
Increasing Revenues
This is thanks to a well-struck deal Jordan signed with Nike way back in the ‘80s. Basketball fan or not, everyone’s heard of the former athlete’s ever-popular Air Jordan shoe brand.
Decades since introducing its first pair, the brand is still raking in impressive revenues. It managed to gross over $3.6 billion in the past 12 months alone.
And that’s already accounting for the overall retail slump that came with the coronavirus pandemic in the past couple of months. That figure is made even more impressive by the fact that the rest of Nike’s other product offerings saw a decrease during the same time frame.
It’s safe to say not even a global health crisis can dampen people’s enthusiasm for Air Jordan shoes.
Jordan’s Share
Both Nike and Jordan are enjoying the profits from the continued demand for the popular shoes. According to reports, the 57-year-old NBA Hall of Famer earns a 5% royalty on all of the multinational corporation’s gross sales.
That means Jordan made a whopping $180 million in royalties alone from the past 12 months. Sounds like a lot, huh?
Well, he also earned $157 million in royalties the year prior. In comparison, Jordan’s career-long earnings from his NBA playing years only clocked in at $93.2 million.
Coming Far
Jordan’s deal with Nike is considered to be one of the most successful partnerships between a brand and an athlete with both parties benefiting greatly from the collaboration.
It’s worth remembering that Nike wasn’t always the sportswear giant it is today. Jordan’s prestige helped transform it from an underdog to one of the most valuable brands in the world today.
Given all that Jordan and Nike have accomplished over the years, it’s almost a shock that the original contract they signed only entailed $500,000 over the course of five years. Fortunately, all of their projections were proven wrong when Air Jordan sold $126 million worth of shoes on its first year alone.
More in Basketball
-
`
F1 Rumor Mill: Lewis Hamilton’s Secret Contract Talks With Ferrari
In the thrilling world of Formula 1, where high-speed races and cutting-edge technology reign supreme, the off-track drama often captures just...
November 19, 2023 -
`
Is Saudi Arabia ‘Sportswashing’ Soccer’s World Order?
When it comes to soccer, Saudi Arabia is making headlines for all the right reasons – or so it seems. The...
November 11, 2023 -
`
How Dillon Danis Vs. Logan Paul Ended With a Shocking Disqualification
In the electrifying world of professional boxing, there are fights that leave fans awestruck. And then there are fights that make...
October 31, 2023 -
`
Jordi Fernandez: The NBA’s Next Coaching Prodigy With a Canadian Twist
The world of basketball is a place where legends are born, games are won, and coaching stars rise out of seemingly...
October 29, 2023 -
`
Daniel Ricciardo’s F1 Comeback: The Honey Badger Is Back!
Formula 1 fans have eagerly awaited the return of Australian driver Daniel Ricciardo, who suffered a hand injury in a dramatic...
October 22, 2023 -
`
Saudi Pro League: Big Name Star Players That Are ‘Transferring’ to the Middle East
There was a time when the Saudi Pro League was a name known mainly within its borders. Fast forward to today,...
October 13, 2023 -
`
PFL & Saudi Arabia’s $100 Million Game-Changer Investment
When you pair the energy of the Professional Fighters League (PFL) with Saudi Arabia’s financial might, you are in for a...
October 7, 2023 -
`
The Best NBA Defenders According to Steph Curry
In the fast-paced and ever-evolving world of the NBA, some players stand out like luminous stars, leaving spectators in awe of...
October 1, 2023 -
`
The Return of F1 Sprint Races
Revving up the excitement for Formula 1 enthusiasts, the F1 Sprint races have returned triumphantly to the racing calendar in 2023....
September 23, 2023
You must be logged in to post a comment Login