When we think of Michael Jordan, we immediately envision the greatest legacy that can be left on the hardwood. 6 championships, 5 MPVs, and 2 three-peats. Jordan was a winner like no other when it comes to basketball and looking back on his off-court endeavors we can confidently say the same for those too.
Nike has really pushed the Jordan Brand over the last several years — and sales have exploded.
Jordan Brand Annual Sales
• 2018: $2.8 billion
• 2019: $3.1 billion
• 2020: $3.7 billion
• 2021: $4.8 billion
• 2022: $5.1 billionAnd with MJ taking home a ~5% royalty, he now… pic.twitter.com/7S3LWE3NCM
— Joe Pompliano (@JoePompliano) July 6, 2023
Jordan is the head and likeness of possibly the biggest shoe brand in history. Of course, barring their parent company Nike, the Jordan brand is the most successful athlete signature shoe line to ever exist. Michael himself has earned $1.3 billion from the sales and his overall deal with the American industry giant and it was all thanks to one clause his mother insisted be added to his original contract back in 1984.
Jordan’s “Jumpman” logo, which is the iconic image of Jordan jumping in the air with the ball in his hand, has become the face of a multi-billion dollar revenue stream for Nike and that logo speaks volumes to the masses. It would seem self-explanatory that Michael Jordan would have the rights to his logo and image but interestingly that isn’t the case.
Michael Jordan sold his ownership shares in Nike
Michael Jordan signed his initial contract with Nike in 1984, where he was given a $2.5 million 5-year deal, on the assumption that he would sell 100,000 shoes in his first year. Jordan’s popularity and thereby his shoes exploded onto the market shattering Nike’s expectations and building the foundation for an extremely successful partnership over the years.
Until 2006, Nike had a huge stake in the Jordan brand and signature line. Michael then decided it was enough and wanted to become the complete owner of his namesake. Therefore he bought out the remaining 49% of shares that were held by Nike, becoming Jordan brand’s sole owner and overlord.
However, what Jordan bought out was not the name ‘Air Jordan’ or ‘Jordan’ he bought the branch of Nike’s tree that is the Jordan line of sneakers and apparel.
Behind the Scenes of Nike’s Jumpman Logo pic.twitter.com/v5ykTWeSUJ
— Shtreetwear (@Shtreetwear) June 29, 2023
Then at some unknown point in time, Michael Jordan sold his ownership stake in Nike, thereby turning over his Jordan brand ownership to them but still abiding by the clauses of his contract that make him a ton of money every single year.
Therefore Nike still owns and controls the Air Jordan name and that extends to the Jumpman logo as well. That is why we see shoes like the Jordan One Take using the Jumpan logo, even though the line isn’t associated in any way shape, or form with Michael Jordan.