In 1984, Nike signed a contract with Michael Jordan, that dramatically transformed the fortunes of both the brand and NBA basketball over the next four decades. The Jordan brand’s growing income means the former NBA figure earns several times more a year compared to when he played more than two decades ago.
The six-time NBA champion has earned approximately $2.7 billion ($3.75 billion adjusted for inflation) since leaving North Carolina.
Jordan leads a star-studded field of athletes from nine sports and 17 countries who make up the top 50 winners of all time and who together pocketed $50 billion adjusted for inflation and $35.5 billion on a nominal basis. salaries, prize money, sponsorships and other sources of income.
Jordan was the highest-paid player in the NBA for only two of his 15 seasons and earned a total of $94 million as a player for the Chicago Bulls and the Washington Wizards. It was off the court where he raised the most, and he still maintains endorsement relationships with his longtime partners Gatorade, 2K Games, Five Star Fragrances and Upper Deck.
However, it is Nike that accounted for the majority of its profits, estimated at $250 million last year.
Nike was barely profitable and had annual revenue of $920 million when it signed Jordan to a royalty-based deal in 1984. Last year, the Swoosh generated $51 billion in revenue, with the Jordan brand alone accounting for $51 billion. s6.6 billion.
The model has worked perfectly: Jordan’s revenue has tripled over the past 10 years, from $2.3 billion in 2015 to a projected $7 billion this year. As Jordan Brand’s revenue increased, the former NBA’s annual royalties skyrocketed.
Jordan leads a list of 12 basketball players among the top 50, which also includes Lebron James (No. 5 overall, $1.7 billion adjusted for inflation), Shaquille O’Neal (No. 13, $1.21 billion) and the late Kobe Bryant (No. 14, $1.2 billion). 090 million). Basketball players are benefiting from ever-higher salaries (44 players are making at least $30 million this season) and big sneaker deals that eclipse what an NFL or MLB player can earn.
James is the highest-paid active NBA player this year, including endorsements, and ranks fourth among all athletes earning in 2023 at $126 million.
His career playing salary will top $500 million next season, while his endorsement portfolio includes AT&T, Beats, Crypto.com, GMC, PepsiCo and Taco Bell, and he has his own lifetime contract with Nike that pays more than US$30 million a year. Like Jordan, who cashed in on his Charlotte Hornets ownership, which is not included in totals, James built equity positions in a number of companies, including stakes in SpringHill Company, Blaze Pizza, Lobos 1707 tequila and Fenway Sports Group. .
Golfers represent the next largest contingent with eight members in the Top 50, including Tiger Woods (No. 2, $2.66 billion), Arnold Palmer (No. $4, $1.76 billion) and Phil Mickelson. (No. US$11, $1.43 billion).
Like Jordan, his biggest wins were feura on the field; Woods won $121 million in PGA Tour prize money, and Palmer earned just $3.6 million on the PGA and Champions tours; Mickelson benefits from a nine-figure payout from LIV.
The key to golfers’ bloated bank accounts is threefold: the length of their careers, diverse income streams and their role as traveling billboards for a fan base with high disposable incomes. Palmer earned up to $40 million a year until his death at age 87, 43 years after his last victory on the PGA Tour. Woods, Palmer and Jack Nicklaus launched course design businesses to supplement their prize money, endorsements, royalties and appearance fees.
The profits of woods Off the field they peaked at $100 million a year in the late 2000s.
The biggest names in other sports include Cristiano Ronaldo (No. 3, $1.92 billion), Lionel Messi (No. 6, $1.67 billion); Roger Federer (No. 9, $1.49 billion), Floyd Mayweather (No. 10, $1.48 billion), Michael Schumacher (No. 12, $1.36 billion), Alex Rodríguez (baseball No. 20, $775 million), Tom Brady (football, No. 23, $745 million) and Conor McGregor (No. 50, $555 million).
The threshold to enter the Top 50 is US$555 million compared to US$10 million last year
Americans represent 31 of the 50 names and active athletes make up 40% of the list. Serena Williams is the only woman among the top earners.
Williams hung up his racquet in 2022, but he had a deep sponsorship portfolio that expanded during the second half of his career to include Nike, AT&T, Beats, Ford Motor, Gatorade and Subway. She also earned $95 million in prize money, more than double that of any female athlete in any sport.
Source: Ambito
I am Pierce Boyd, a driven and ambitious professional working in the news industry. I have been writing for 24 Hours Worlds for over five years, specializing in sports section coverage. During my tenure at the publication, I have built an impressive portfolio of articles that has earned me a reputation as an experienced journalist and content creator.
