Basketball legend Michael Jordan is still scoring big, even off the court. Thanks to his deal with Nike, he reportedly pocketed between $150-250M (£118.12-196.87m) in 2022, which is four times his NBA career earnings.
Back when Jordan was a rookie, Adidas, Converse and Nike were all vying to sign him up. But it was Nike who won the race, despite Jordan’s known preference for Adidas gear.
Nike offered Jordan a five-year contract worth $2.5m (£1.97m), more than double what Adidas had put on the table. On top of that, Jordan’s mum, Deloris, insisted that Nike give her son a 25 per cent royalty on all shoes sold with his image if they wanted him as the face of their basketball range. Nike agreed, and the rest, as they say, is history.
In 2022, Air Jordan sales hit a whopping $5.1b (£4.02b). And because of his deal with Nike – where he now gets 5 per cent of all Jordan Brand sales – the 60 year old netted around $256.1m (£201.67m). It’s worth noting that Nike and Jordan Brand saw record revenues in 2022, having already raked in $4.8b (£3.78b) in 2021.
Last year, Jordan Brand raked in a whopping $19.4b (£15.28b), padding out Jordan’s bank account even more. On top of that, he sold his majority share in the Charlotte Hornets for a reported $3b (£2.36b), pushing his total wealth over $3b (£2.36b) and making him one of the wealthiest athletes ever, according to Forbes.
Jordan’s off-court earnings are a world away from what he made during his basketball career. Over his 19-year stint with the Chicago Bulls and Washington Wizards, he pocketed around $94m (£74.02m). From 1984 to 1995, he made $28.3m (£22.29m) with the Bulls. In his last two seasons in Chicago, the star player bagged $63.2m (£49.77m) – averaging $31.6m (£24.88m) per season.
After a break, Jordan came back to play for the Wizards for two seasons. He made $1m (£790,000) and $1.03m (£810,000) in his final two NBA seasons, bringing his total earnings to $93.6m (£73.7m).
Even though he retired after the 2002-03 NBA season, it’s clear Jordan still has a hold on the basketball market, both on and off the court. During the 2022-23 season, 7.4 per cent of NBA players sported a Jordan Brand trainer, coming third behind Adidas (10.8 per cent) and Nike (65.1 per cent), according to ballershoesdb.
The greatest basketball player of all time, who still holds a lot of influence, could see his annual earnings rise each year if current trends continue.
