The collaboration between Michael Jordan and Nike was fruitful for Chicago Bulls legend.
In 1984, Nike was a relatively unknown sneaker brand, at least in terms of offering approval deals with the NBA stars.
However, after signing Michael Jordan that same year, the brand exploded in popularity. Over the years, Jordanian signature shoes have been worn by millions of fans.
The big attraction for the Jordanian brand is nothing more than the iconic Jumpman logo, where the microphone appears to be dancing basketball with his left hand.
When you see the Jumpman logo, fans will think it’s MJ’s silhouette dancing basketball. However, that’s wrong.
In an interview with Hoop Magazine in 1997, Jordan revealed that he wasn’t even dunking when the iconic photos were taken.
“I wasn’t even dunking it. People think I am. I just stood on the floor, jumped up, spread my legs. They took pictures. They weren’t running.”
The six-fold NBA champion added: “Everyone thought I’d run and let go and do it. It was actually a ballet move where I jumped up and spread my legs. And I had the ball in my left hand.”
In fact, the photo shoot Jordan spoke of even before he put on Nike shoes. To be precise, this photo was taken from a 1984 photo shoot with Life Magazine before the Olympics.
Apart from the iconic logo, Jordan’s signature with Nike has set a precedent for future approval transactions. After all, to this day, microphones receive royalties from all Jordanian branded sneakers for sale all over the world.
Today, Jordan is worth $3.5 billion per Forbes, and the majority of his revenue comes from 5% royalties from Jordan brand sales.
According to Sportico, the Jordan brand’s revenue for Nike’s latest fiscal year was $7.3 billion, meaning Jordan has made more than $300 million.
For context, Jordan won just $93.8 million in a 15-year stint with the Chicago Bulls and Washington Wizards in a 15-year stint with the Chicago Bulls and Washington Wizards.