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We’ve all seen the massive contracts that some athletes are making these days. From Mike Trout making $426.5 million, to Aaron Judge at $365 to even players like Patrick Mahomes annual $45 million or Aaron Rodgers at $50 million… but the real money may be in what the athletes do off the playing surface.
And the one that can prove it all is Sir Airness himself, Michael Jordan.
That’s because Jordan made nearly double his entire career earnings just last year alone thanks to a massive Nike deal.
Re-read that last sentence. Jordan hasn’t touched a basketball on a professional court since 2003 (God we are old) and he just racked in perhaps his biggest annual gross earnings yet. Have yourself a cigar, MJ.
JORDAN RETIRED IN 20023
According to Front Office Sports, Nike’s Jordan Brand made $5.1 billion last year. And, because of MJ’s brilliantly negotiated deal he made years ago that he gets 5% of annual earnings, that means he made $256.1 million last year alone.
He made all that money last year without having to go through training camp, or hours long practices, or high-stressed NBA games. Nope. He did it all just by licensing his name.
By comparison, Jordan made approximately $90 million dollars TOTAL throughout his 15-year career.
When Jordan was a rookie in 1984, he signed a deal with Nike. The agreement, which is one of the most profitable athletic branding ones in history, has allowed Michael to live quite the good life since hanging his playing sneakers up.
His net worth is believed to be $1.7 billion, according to Forbes.
NIL DEALS ARE THE FUTURE
Sure, it’s difficult to make direct comparisons between what athlete’s were making back in the day compared to now. Massive television rights contracts and merchandise apparel now being a global commodity has allowed athletes and teams to get bigger contracts.
But if this shows anything, it’s the power of what the individual athlete can do outside of the minutes they play on the court or innings they collect on the baseball diamond.
With the rise of NIL deals, including for college athletes, let Michael Jordan pave the way for what a future may look like. Although it most likely won’t be anywhere near that kind of Nike-type money, athletes now have the opportunity to sell their Name, Image and Likeness in ways they never have before.
So that when the playing days are over, and they will eventually be over – the athlete, can still live that good life. Just as Jordan does.
Just make sure you don’t partner with FTX.
One CommentLeave a Reply
But make sure you all hate the LIV guys for doing same thing. I would suggest child labor practices should be viewed as bad, regardless of what MJ and Rory try to spin to us.