For many basketball fans, the name Michael Jordan is synonymous with the sport, and his legacy as the greatest of all time. But did you know that the iconic athlete has a financial stake in the popular shoe and apparel company, Nike? In this article, we’ll discuss whether Michael Jordan does indeed own part of Nike, and what that might mean for his future. So, if you’re curious to know if the greatest basketball player of all time owns a piece of Nike, read on!
Yes, Michael Jordan has owned part of Nike since 1984. The two parties forged a long-term partnership which has grown into a multi-million dollar deal. The initial agreement included a royalty agreement, a personal endorsement contract and the launch of the Air Jordan shoe line. In 1997, Jordan struck a deal with Nike that allowed him to obtain a 20 percent stake in the company and the moniker of “Chairman of the Board.” In the years that followed, the Air Jordan line became Nike’s most successful franchise.
Does Michael Jordan Own Part of Nike?
The short answer is yes, Michael Jordan does own part of Nike. In 1984, Jordan signed a deal with Nike that has since become one of the most successful sports endorsements of all time. As part of the deal, Nike released the first signature Air Jordan shoes, and Jordan was given an undisclosed stake in the company.
The Details of Michael Jordan’s Deal with Nike
When Michael Jordan signed with Nike in 1984, he was given a five-year endorsement contract with the company. Under the terms of the deal, Jordan was given a percentage of the sales from the Air Jordan shoes, as well as royalties from other Nike products that featured his name or likeness.
In addition to the royalties, Jordan was also given an undisclosed stake in the company. This stake was reportedly worth $40 million in 1998, and the value has only grown since then. As of 2019, it is estimated that Jordan’s stake in Nike is worth around $1.3 billion.
How Does Michael Jordan Profit from Nike?
Jordan profits from Nike in two main ways:
- Royalties: As stated above, Jordan receives royalties from the sales of Air Jordans and other Nike products that feature his name or likeness.
- Stake in the Company: Jordan owns a stake in the company, meaning he profits when the stock price increases. In addition, he receives dividends from the company.
In recent years, Jordan has also taken on a more active role in Nike. He is currently a member of the company’s board of directors, and he also serves as the chairman of the Jordan Brand.
Frequently Asked Questions
1. Does Michael Jordan Own Part of Nike?
Answer: Yes, Michael Jordan owns a majority stake in Nike via his company, Nike Jordan Brand. He first signed a five-year endorsement deal with Nike in 1984 and since then, he has been a part owner. At one point, he owned over 4.5% of the company, making him the third-largest individual shareholder. Jordan is also a limited partner in the Charlotte Hornets, an NBA team owned by Nike founder Phil Knight.
2. How Much of Nike Does Michael Jordan Own?
Answer: As of 2021, Michael Jordan owns a reported 5% stake in Nike, making him the third-largest individual shareholder. This stake is worth an estimated $1.9 billion. Jordan’s stake in Nike is managed through his company, Nike Jordan Brand.
3. How Did Michael Jordan Become a Part Owner of Nike?
Answer: Michael Jordan became a part owner of Nike in 1984 when he signed a five-year endorsement deal with the company. As part of the deal, Nike granted Jordan a minority stake in the company, making him the first athlete to have an ownership stake in a major sports brand. Jordan’s stake in Nike has grown over the years and he is now the third-largest individual shareholder.
4. How Much Money Has Michael Jordan Made from His Stake in Nike?
Answer: Michael Jordan has earned an estimated $2.2 billion from his stake in Nike since 1984. This figure includes the money he has made from dividends, stock options and capital gains. Jordan’s stake in Nike is worth an estimated $1.9 billion as of 2021.
5. Is Michael Jordan Still Involved with Nike?
Answer: Yes, Michael Jordan is still involved with Nike. He is a limited partner in the Charlotte Hornets and the brand’s creative director for the Jordan Brand, a separate division of Nike. Jordan also continues to play an active role in the design and marketing of Nike products, including the Air Jordan shoe line.
6. Does Michael Jordan Get a Salary from Nike?
Answer: While Michael Jordan does not receive a salary from Nike, he does receive a percentage of the profits from all Nike Jordan Brand products. In addition, he has also earned dividends and capital gains from his stake in the company. According to reports, Jordan has earned an estimated $2.2 billion from his stake in Nike since 1984.
In conclusion, it is clear that Michael Jordan does indeed own a portion of Nike stock. His iconic Nike ‘Air Jordan’ shoe line has become a global phenomenon, and his partnership with Nike has enabled him to become one of the most successful and recognizable athletes in the world. While his exact share of the company is unknown, it is clear that Michael Jordan will remain a part of the Nike family for years to come.
