Michael Jordan was an assassin don’t he court but he also had a masterstroke when it came to the boardroom and executing business deals. Jordan leveraged his individual popularity to make Jordan Brand and become a billionaire, all on the backs of Nike, with whom MJ made an agreement as we have never seen before from an athlete. MJ does choose his business deals selectively.
- Michael Jordan And His Incredible Business Sense
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Speaking to WFAN, Jordan’s longtime agent David Falk revealed moments when Jordan turned down very large sums of money for commitments that would have been very easy to execute. This included a $7 million sum to play in a golf tournament in the Philippines when he was traveling with the Charlotte Hornets for a pre-season game and an unnamed commitment where Jordan declined $100 million.
“[Jordan] turned down a deal to do a one-day golf appearance when he was in Asia a few years ago for a pre-season game with Charlotte. And some woman in the Philippines offered me seven million dollars for one day, wanted him to play in a golf tournament. And he turned it down. I brought him a deal three years ago for 100 million dollars. And all he had to do, other than give his name and likeness, was make one two-hour appearance to announce the deal. And he turned it down.” (h/t NBC)
Michael Jordan And His Incredible Business Sense
One of the reasons MJ would have declined the $100 million deal is because it included his name and likeness. The value of Jordan Brand is that MJ is exclusively associated with them and all merchandising linked to the basketball great is acquired through his company.
Jordan is also an NBA owner and has a controlling interest in the Charlotte Hornets. With the value of NBA teams blossoming from the $275 million the team was worth when he bought them in 2010, Jordan has seen the team be valued at over $1.5 billion today.
MJ parlaying a successful NBA career into a successful business career is an incredible thing to see and has motivated athletes to follow that path. This includes LeBron James, who became the second NBA player to become a billionaire and the first to do it while still playing.
