Michael Jordan is ending the year right with a couple of good news this month. Forbes named Jordan the Highest-Paid Athlete of All Time at a whopping $1.7 billion earning since joining the NBA in 1984. The news came in days after he won a legal battle regarding the use of his name for merchandise in China.
Michael Jordan is one of the most remarkable NBA stars that remain widely revered and popular even after his retirement in 2003. Jordan was tagged as the greatest basketball player who ever lived, but don't think that he became rich with his NBA contract alone. Forbes details that MJ only earned $30 million for two seasons, and gained an overall income of $93 million from his combined seasons playing for Chicago Bulls and Washington Wizards.
His performance out on the court has never really been reflected in his earnings alone but also with big endorsement deals with Coca-Cola, Nike, and Gatorade among many others. Even after permanently getting out of the ball game, his name and image prove to be his money magnet that earned him $78 million during his prime in 1997 from his salary and advertisements. Nike's Jordan brand made Michael $100 million this year alone, which is apparently influences 50% of the sneaker market and generated Nike $2.8 billion in revenue, according to Forbes.
In relation to his brand and merchandise sales that reached its popularity in Asia. A Chinese sportswear firm used a Chinese rendering of his name and a logo that is strikingly similar to the Air Jordan logo. According to CNN, the NBA legend has been in a legal fight with the company for years, but finally scores a win this month when China's top court ruled in favor of Jordan. The company is now prohibited to use the Chinese character for "Qiaodan" and even though the ban does not include the trademark in Roman letters, this is still good news for Jordan.
Meanwhile, regarding athletes' earnings, Forbes have computed royalties, endorsement and licensing fees with cover salaries and performance-related earnings excluding income from individual investments. In addition, the total for each athlete does not have deductions for taxes or agents' fees.
Sportsmen undergo a lot of training and while they have to maintain an outstanding performance they also have to establish their image so they can also earn from their own brand. The case of Michael Jordan and other remarkable athletes in their respective fields prove this. That and the fact that sports is a lucrative career are some of the things that Forbes Celebrity 100 inform its readers annually.
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