From his savvy moves in sports management to his lucrative deal with Nike that continues to bring in annual revenue, here’s how the NBA legend spends and makes money.
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charlotte hornets
After a brief return to the court and spreading business interests, he purchased a minority stake in the Charlotte Bobcats in 2006 (the team was renamed the Charlotte Hornets in 2014). In 2010, he purchased the team for US$175 million and became the team’s majority shareholder.
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nike air jordans
Nike founder Phil Knight once famously said: Choosing Jordan was the best decision he ever made. As early as 1984, he signed a contract with the then NBA rookie with an annual salary of $250,000. The deal almost never happened as Jordan was considering working with other brands before joining Nike.
The basketball star is credited with “revolutionizing the sneaker industry,” with a 2023 report from Business Insider stating that the Jordan Brand generates $3.6 billion in annual revenue for Nike.
Details of the athlete’s deal with Nike and the royalties he received from Jordan Brand, which uses the iconic Jumpman logo, emerged late last year. The 5% royalties he earns will net him $330 million in 2023 alone, according to Fox News. Add in the $94 million he earned in 15 NBA seasons, and his fame on the court seems to have grown in direct proportion to his influence in the apparel world.
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NASCAR Cup Series
Hamlin also told the publication that Jordan is not only more involved in marketing, but also more involved in team meetings, explaining, “Obviously, he’s always going to be a part of team sports. Sometimes, he’ll hear some things in meetings He would say, ‘I don’t like that. We need to be more self-reflective and think about what we need to do better.'” “It means a lot to our team.”
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charity
In 2020, Jordan donated $2 million to Feeding America’s food banks in Chicago, North Carolina and South Carolina.The money came from his income from filming the documentary series The last dance. He made the donation at the height of the Covid-19 pandemic and said it was important to “pause and say thank you,” NBC reported.
Also in 2020, the basketball player and Jordan Brand-owned Nike pledged to donate $100 million over 10 years to various organizations fighting for racial equality, social justice and educational opportunity. The movement was launched after the death of George Floyd, which sparked countless Black Lives Matter protests across the country.
“Jordan Brand belongs to and was founded by the Black community. Greater than one man, whose will and work redefined the meaning of greatness. Bigger than a basketball court, where the dreams of generations have flown. Greater than any struggle, No obstacle, no fight is bigger. The fight for equal opportunity and equal justice is ours,” the description on Nike.com reads.