How Michael Jordan’s mum helped him earn more than £1BN from Nike deal after he originally wanted adidas sponsorship
MICHAEL JORDAN has his mum to thank for his £1BILLION Nike fortune – admitting he originally wanted to sign with adidas as a young basketball star. During episode five of Netflix hit The Last Dance, the NBA legend revealed all about his early days breaking into the footwear business. In 1984, Jordan – unthinkably, today […]
MICHAEL JORDAN has his mum to thank for his £1BILLION Nike fortune – admitting he originally wanted to sign with adidas as a young basketball star.
During episode five of Netflix hit The Last Dance, the NBA legend revealed all about his early days breaking into the footwear business.
In 1984, Jordan – unthinkably, today – was adamant he wanted to team up with adidas.
But Jordan claimed his parents told him to entertain a meeting with Nike – and ultimately join them.
Jordan said: “My mother said, ‘You’re going to go listen. You may not like it, but you’re going to go listen.’
“She made me get on that plane and go listen.”
Nike offered Jordan a five-year deal worth £400,000, including his very own shoe – the now iconic Air Jordan.
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Adidas, conversely, were not willing to offer a young Jordan such luxuries.
And Jordan revealed his dad told him: “You’d have to be a fool, not taking this deal. This is the best deal.”
MJ, of course, would go on to sign with Nike and has since gone on to earn £1bn from the company.
His own Jordan brand is a subsidiary of Nike and arguably the biggest name in basketball footwear.
Incredibly, Nike were hoping to make £2.4million from Jordan‘s custom shoe across the first three years of his five-year deal – a massive £2m profit.
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But the shoe proved such a hit it made over £100m in its FIRST YEAR – proving Nike got an absolute bargain in taking a chance on an unproven rookie.
Looking back at the deal, Forbes claimed: “It is the richest athlete endorsement deal ever…
“But [it’s] also arguably the biggest bargain given that Jordan helped transform Nike from a scrappy underdog into one of the largest, most valuable consumer brands in the world.”