Michael Jordan's shoes' release dates are some of the most highly anticipated events for sneaker fans. And they have been for over twenty years. Over the last 30 years, Michael Jordan has released a new pair of shoes through Nike and it has revolutionized how people view sneakers.
According to a recent report done by Forbes, Michael Jordan and his Nike shoes are more than revolutionary. They are highly profitable. Because of his deal with Nike, which he has held since leaving UNC following his sophomore year, Jordan made $90 million in 2013. That was more than any other athlete, active or retired, besides Floyd Mayweather. How much of his $90 million in profit were from Nike last year? Forbes estimated that the sales of his shoes, clothing, and endorsements were worth a combine $75 million.
Considering Michael Jordan is also the majority owner of the Charlotte Bobcats, the fact that his shoes earned him more money than anything else is staggering. The Bobcats have dropped in value every season since Jordan became the majority owner in 2010. That is until 2013, when they finally turned a $7 million profit. For those keeping track, shoes are worth almost $75 million and an NBA franchise will make you a measly $7 million.
With all the talk recently about the Mount Rushmore of NBA players, Michael Jordan would be the most expensive head carved into the side of that mountain. How profitable is the famous athlete to his greatest beneficiary, Nike? Of their $26 billion in sales over the last year, the Jordan brand has contributed $2 billion. Half of all basketball shoe sold last year carried the Jordan logo on them.
Michael Jordan is not going anywhere anytime soon either. With his standard Gatorade, Hanes, and Upper Deck contracts, he will be set for a long time. As a father of two young twin girls, recently born to new wife Yvette, Jordan will have his hands full.
2013 was his most profitable year since 1998 when he made $80 million. Jordan is poised for financial growth in the seasons to come as the NBA begins to renegotiate television contracts. It has been estimated that the new collective bargaining agreement will work out to make every NBA team worth at least one billion dollars. Michael Jordan's current net worth in an estimated $750 million. At 51 years-old, he is well on his way to becoming a billionaire. At this pace, it may happen before he is 60.
So while his career as an NBA executive has been largely unsuccessful (Kwame Brown?), Michael Jordan and his shoes are laughing all the way to the bank with his $90 million from 2013.
[Image via simplistic.designs on Flickr]