“Sneakers is going through one of the biggest renaissances of its history and not showing any signs of moderating,” says Cowen & Co. analyst John Kernan. He thinks the Jordan Brand has massive potential in China and sees more extensions after recent partnerships with soccer club Paris Saint-Germain and college football powerhouse Michigan.
Jordan, with a big assist from Nike, revolutionized the marketing of NBA players in the 1980s. His original five-year Nike deal paid $500,000 annually, plus royalties. He later signed deals with Coca-Cola, McDonald's, Chevrolet, General Mills and more than a dozen other brands. Hisis roughly $1.7 billion since he entered the league in 1984, almost 20 times the $90 million in salary he made in 15 seasons with the Chicago Bulls and the Washington Wizards.
Jordan has cut back on his endorsement commitments in retirement but still maintains deals with longtime partners Hanes, Gatorade and Upper Deck. He also has other business interests, including three restaurants and a car dealership. We estimate his non-Nike earnings at $15 million this year.in 2017 to fund a pair of Novant Health Michael Jordan Family Clinics in Charlotte, North Carolina. The first is scheduled to open this fall.
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