NBA legend Michael Jordan reportedly won a multi-million dollar judgment against a grocery store chain.
TMZ reports that the Hall of Famer targeted Dominick’s after it used Michael Jordan’s iconic basketball jersey number for a steak advertisement back in 2009 without permission.
The advertisement, which also featured a logo that is very similar to Michael’s trademark Jumpman logo, was featured in an issue of Sports Illustrated along with a $2.00 off coupon.
The attorney representing Dominick’s, a now-defunct grocery store chain owned by Safeway, claimed that his client should not have had to pay more than $126,000.
Jordan made it clear in court just how he felt about his image and brand overall, according to the Wall Street Journal .
“It is something I value very preciously… I didn’t do deals for anything less than $10 million.”
TMZ reports that the fact that Michael Jordan would not do a media deal for less than $10 million played a major role in the $8.9 million judgment being awarded by a Chicago jury.
Instead of adding the money that he won from the judgment to his bank account, Michael Jordan confirmed that he has other plans for the funds.
“The case was not about the money, as I plan to donate the proceeds to charity. It was about honesty and integrity. I hope this case sends a clear message, both here in the United States and around the world, that I will continue to be vigilant about protecting my name and identity.”
The value of Michael Jordan’s likeness and brand image was explained in great detail by his attorney Fred Sperling within his opening statement earlier this month.
According to the Wall Street Journal , Sperling mentioned that Nike Inc. paid Jordan $480 million between 2000 and 2012 — an average of $40 million per year.
Michael Jordan’s name alone is worth $480 million to Nike: http://t.co/p2KhDkynJG pic.twitter.com/LvDeTGqF2N — SoleCollector.com (@SoleCollector) August 15, 2015
Gatorade, Upper Deck, and Hanes have also paid Michael Jordan between $14 and $18 million.
Nike paid Michael Jordan $480M since 2000. Gatorade $18M, Hanes, Upper Deck $14M each. http://t.co/KQWIoZgJIR pic.twitter.com/QpKeeFWQ28
— Michael Zajakowski (@zajakowski) August 13, 2015
Michael’s longtime adviser and Charlotte Hornets vice chairman Curtis Polk stated that the legendary Chicago Bulls player made more money from marketing endorsements in 2014 than he made in his entire playing career with the Bulls.
Therefore, to say that Jordan’s brand is high in value could be considered a major understatement.
[Image Credit: Streeter Lecka/Getty Images]
