Michael Jordan not only changed NBA history, but also changed the sports shoe market with his cooperation agreement with Nike.
Since its birth in 1984, the Jordan brand has dominated the market and become one of the most successful contracts in history, bringing huge profits to both Michael Jordan and Nike. Let’s find out detailed information with Sporting News Vietnam:
Michael Jordan’s NBA income
As the player considered the best in NBA history, Michael Jordan’s income does not reflect that. According to Sportrac , Michael Jordan’s first NBA contract is worth 6.3 million USD/7 years. After 4 years, the Chicago Bulls signed a new 8-year contract worth $25.7 million.
Between 1995 and 1998, Jordan was the highest-paid player in the NBA. He is the first person to have a contract worth >20 million USD/year
Michael Jordan and his NBA career earnings
SeasonTeamWage1984-85Chicago Bulls$455,0001985-86Chicago Bulls$630,0001986-87Chicago Bulls$737,5001987-88Chicago Bulls$795,0001988-89Chicago Bulls$2 million1989-90Chicago Bulls$2.25 million1990-91Chicago Bulls$2.5 million1991-92Chicago Bulls$3.25 million1992-93Chicago Bulls$4 million1994-95Chicago Bulls$3.85 million1995-96Chicago Bulls$30.1 million1997-98Chicago Bulls$33.1 million2001-02Washington Wizards$1 million2002-03Washington Wizards$1.03 millionTotal $93.6 million
How much money does Michael Jordan make from Nike?
In his NBA debut year of 1984, Jordan signed a five-year contract worth $2.5 million with Nike. His salary was 500,000 USD/year, a record number at that time.
That number was completely worth it when Jordan shined in his debut year, making it to the NBA All-Star and winning the Rookie of the Year award.
In 1997, Jordan and Nike launched the Jordan brand. According to research by Centuro Global, as of 2020, Jordan has earned $1.3 billion from the contract with Nike. According to Front Office Sports Jordan is paid $256 million from Nike in 2022 alone, double his income from playing basketball in the NBA during his entire career.
How much money does Nike make from collaborating with Jordan?
Not only Jordan benefited, but Nike also jumped after the collaboration with the basketball legend wearing shirt number 23. In 1984, when launching Air Jordan 1 shoes, Nike expected to earn 3 million USD. As a result, in just the first year, the sportswear giant earned up to 126 million USD from this product.
According to Front Office Sports , the Jordan brand has $5.1 billion in revenue in 2022, and Jordan is paid 5% of that. According to market research firm NPD, Nike and the Jordan brand account for 86% of the basketball shoe market share.
Property of Michael Jordan
Michael Jordan has many businesses, including golf courses, owning a NASCAR racing team, investing in the Charlotte Hornets in the NBA as well as NBA Top Shot and Draft Kings. According to Forbes statistics , Jordan has a fortune of $2 billion and is the richest sports athlete in the world.