Although Michael Jordan and Isiah Thomas did not have a good relationship in the NBA, their confrontation was very fierce. The bad boy Pistons under Thomas repeatedly gave Jordan’s Bulls a hard time before his team finally prevailed in 1991 to win their first championship.
Isiah Thomas recognized Jordan’s huge contribution to the NBA and famously said: “Everything Michael Jordan has done for the NBA, we are still living off it!” During Thomas’ tenure as president of the Players Association, players received total income 53%.
Thomas said that with 53 cents of every dollar earned going to the players, Jordan was a boon to the league’s profitability. I’ve emphasized that Jordan elevated the NBA to heights that no one else could reach, and everyone is still benefiting from it.
In fact, Jordan made the NBA a global sensation through his outstanding performance. This immediately led to a dramatic increase in the league’s ratings worldwide, resulting in a higher salary cap for teams. Additionally, with an expanded salary cap, teams are free to offer players significantly increased salaries.
Also read: Dennis Rodman reveals he never spoke to Michael Jordan despite winning three straight championships with him
Michael Jordan’s continued wealth
Michael Jordan is considered one of the richest athletes in history, with a net worth of approximately $3 billion. He is the first professional athlete to make the list of the richest individuals in the United States and is the highest-paid NBA player of all time.
His NBA career has brought him nearly $94 million in earnings. In addition, his collaborations with well-known brands such as Nike, Gatorade and Hanes have brought him approximately $1.8 billion in profits.
Since 1984, sales of Nike’s Jordan signature series have continued to grow year by year. This series of products alone will bring sales of $5.1 billion to Nike in 2022. The 5% royalties for every Air Jordan sold brought Jordan a huge fortune.
Jordan further boosted his net worth by selling his controlling stake in the Charlotte Hornets for an estimated $3 billion.
Jordan has diversified his investments into areas such as car dealerships, restaurants and equity investments. His wealth is expected to continue to rise. He is viewed by other athletes as a model for effectively managing and growing finances.
Also read: A coach who worked with Michael Jordan and Kobe Bryant once outlined the key differences between the two NBA legends