Michael Jordan’s accomplishments extend far beyond his achievements on the basketball court. One cannot help but associate his success with the renowned brand, Nike. Their partnership dates back to 1984 when Jordan signed an extraordinary $2.5 million contract with the company. Since then, his Jordan brand has not only earned him over $1 billion but has also contributed significantly to Nike’s annual revenue, reaching $5 billion in 2022. Despite the immense success, Jasmine Jordan, daughter of Michael Jordan, believes that Nike undervalued her father during those early years. In an interview with Footwear News, she went as far as to claim that considering the current landscape of name, image, and likeness (NIL) deals, her father’s worth would amount to trillions.
NIL deals are all the rage these days in the sports industry. Having recently become prevalent, these deals allow college athletes, and young athletes in general to utilize their Names, Images, and Likenesses. Essentially, they can sign deals with major brands and thus add value by bringing in some extra cash. It is a revolutionary concept and one that Jasmine believes would have taken her father’s wealth to the next level.
Jasmine Jordan claims Nike lowballed her father Michael Jordan with $2,500,000 deal
In June 2021, it was announced that the NCAA had approved an interim policy suspending rules related to NIL or Name, Image, and Likeness. It was a deal that turned the world of sports upside down, allowing young players to profit off their marketable personas.
But, players weren’t the only ones affected by this. Major companies also saw a huge increase in new marketing possibilities. Especially, given how popular college sports is in the United States. And, one person, whose job changed drastically, was Jasmine Jordan.
Jasmine, daughter of legendary basketball player, Michael Jordan, is the field rep for women’s sport marketing at the Jordan brand. And, NIL has completely changed how she deals with her work, including how she scouted players. It was great and helped with the development of sports as a whole. Plus, it also allowed Jasmine to think about how it could have possibly changed her father’s own career, how it could have changed his approach to his initial $2,500,0000 Nike deal, and perhaps it could have even made him a trillionaire.
“Maybe that first Nike deal wouldn’t have been as low as it was. It would have changed the game. He would have potentially approached his contracts with Nike differently. Looking at his Funko Pop collectibles or the fact that people still wear his UNC jersey, to reap the benefits from it today, we’re talking making trillions at this point.”
It certainly is difficult imagining what MJ’s financial well-being would have been like with NIL. But, at the end of the day, things worked out well for him. And, it is unlikely he would change anything, especially his deal with Nike.
MJ and Nike have found much success together since 1984
Michael Jordan has come a long way with Nike since signing with them in 1984. Having initially agreed to $500,000 over five years, MJ brought in a lot more than was expected. In fact, his line of Jordan shoes was so successful, that in 1997, His Airness and Nike launched the brand, a company now worth billions of dollars.
For what it’s worth, Jasmine Jordan probably had it right. Her father’s net worth would have skyrocketed if NIL deals were prevalent back in the day. But, then again, none of this would have happened if it weren’t for him.