Michael Jordan lost $ 500 million in a year



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Michael Jordan lost $ 500 million in a year

Michael Jordan won on the basketball court "countless" times, and he continued to lower his successes in the financial field as well. Seven years ago, he became the first basketball player and one of the first top athletes whose fortune was estimated at more than 1,000,000,000 dollars, which then increased from year to year to 2,100,000,000 last season.

However, the new Forbes list confirmed that he is not omnipotent, according to which Jordan lost 500,000,000 dollars in the past year. The reputable magazine did not state the reasons why it estimated the wealth of the best basketball player in history at "only" 1,600,000,000.

However, regardless of the reasons, this will be a big blow for Jordan, who suffered a big loss during the pandemic, but no one doubts that Jordan will be able to get his money back given the marketing he does and given the stakes in certain clubs.

Jordan, only two seasons, ie 1996-1997. ($ 30,140,000) and 1997-1998. (33,140,000) was the highest-paid player in the NBA in which he spent 15 years, during his basketball career he collected barely 90,000,000 gross from contracts with teams, while the rest of the money he earned thanks to sponsorship contracts with multinational companies and later profitable investments.

And in this time it is a big profit on sponsorship contracts and Jordan has made a huge profit in that field. The reputable magazine did not state the reasons why it estimated the wealth of the best basketball player in history at "only" 1,600,000,000.

Sponsorship deal with Nike

The first big business move was a sponsorship deal with sports equipment company Nike, signed in 1984, worth $ 500,000 per season. But of those fixed payments in the contract, no matter how huge half a million seemed at the time, far more important was the item according to which he would receive a certain percentage from the sale of items of the brand named after his surname.

Namely, it is estimated that Flying Mike collects over 100,000,000 dollars a year from the Jordan brand. The Jordan brand is one of the most famous brands on the basis of which NIKE takes huge money. It is fascinating how quickly Air Jordan became popular and how it is not losing popularity He also increased his wealth as the majority owner of the Charlotte Hornets franchise, which was worth 175,000,000 during Jordan's purchase in 2010, and which was estimated at 1,500,000,000 dollars this year, with the NBA legend selling a minority share package of the North Carolina team in 2019.

Forbes list confirmed that he is not omnipotent, according to which Jordan lost 500,000,000 dollars in the past year