08 July 2023 , 12:21
687
0
Basketball legend Michael Jordan has earned a staggering £198 million ($255m) each year from his iconic sponsorship with sports branding giant Nike during their near-40-year-long relationship.
Jordan is recognised as arguably the greatest player to ever grace a basketball court, having become the face of the NBA during his remarkable career. As well as his glittering playing record, the 60-year-old is also best known for his 'Air Jordan' line with Nike.
Jordan initially signed on the dotted line with the branding giant back in 1984, and nearly 40 years later his fashion line is stronger than ever. According to joepompliano.com, Nike Jordan sales have skyrocketed in recent years, breaking the $2 billion mark every year since 2018.
Five years ago, Nike confirmed they made a whopping £2.2 billion (£2.8bn) in 2018 and this has increased year on year. 2019 saw sales hit £2.4 billion ($3.1bn), and one year letter this was bettered, as 2020 sales stood at £2.9 billion ($3.7bn).
The trend continued in 2021, as the Jordan line made £3.7 billion ($4.8bn) before increasing further in 2022 with $4 billion ($5.1bn). The deal between the NBA great and Nike stipulates that Jordan receives a 5% royalty on all sales made on his line.
LeBron James edges closer to NBA scoring record with jaw-dropping Lakers display
Michael Jordan signed a deal with Nike back in 1984 (AP)This means the 60-year-old rakes in almost $300 million per year thanks to the deal, blowing his previous NBA earnings out the water. During his basketball career and beyond, Jordan has become synonymous with the Nike brand, but he has not always been a fan.
In an interview with USA Today ., the former Chicago Bulls star revealed that prior to his mega-money deal with the sports brand, he never wore Nike trainers. “In all honesty, I never wore Nike shoes until I signed with Nike." Jordan admitted.
Revealing his parents played a huge role in securing arguably the biggest athlete brand deal in history, he added: "I was a big Adidas, Converse guy coming out of college. Then actually my parents made me go out to (Nike’s headquarters) to hear their proposal.”