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Between 1984 and 1998,
Michael Jordan generated an estimated $9,000,000,000 in revenue nationwide,
which became known as the “Jordan Effect.” With endorsements by Coca Cola,
General Mills, Wilson, McDonald's, Sara Lee, Upper Deck, WorldCom, CBS
SportsLine, Quaker Oats, Oakley, and Rayovac, he generated enough of an impact
that they named an economic effect after him. On June 22, 1998, Fortune
Magazine reported that the largest contributions came from Jordan brand ($2.6
billion), Nike ($5.2 billion including Jordan brand apparel), NBA tickets
($165.5 million), television revenue ($366 million), and Chicago Bulls
merchandise ($3.1 billion). He is often used as a celebrity endorser because of
his likability and “clean image.” In 2011, Forbes reported that Michael Jordan
has a Nielsen-Rating of 681, almost 300 points higher than any other sports
figure. During their survey, 93% of people said they liked him.
Video from www.YouTube.com
Even now, a decade after
he retired from the NBA, Jordan is generating an estimated $80,000,000 annually
from his corporate partnerships alone. According to research done by
SportsOneSource, Air Jordan sneakers constitute 58% of all basketball shoes
sold, while the parent of Air Jordan, Nike, only constitutes 34%. Although his
shoe market is his largest source of income, he also has other forms of apparel
such as shorts and T-shirts, as well as a fragrance line, “23.” Smaller assets
include being the majority shareholder and chairman of the NBA’s Charlotte
Bobcats, his six restaurants, a car dealership, and other small investments.
Video from www.YouTube.com
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"Words no longer suffice when the subject is Michael Jordan. You need numbers. Call him the very best basketball player who ever lived, and no one puts up much of a fuss anymore: Five championship rings, five MVP trophies, a record ten scoring titles--yeah, he's got more game than anybody. Ask whether he's worth all that money he's paid by Chicago Bulls owner Jerry Reinsdorf, and you're still not likely to start any bar fights. Sure, Jordan's salary is some $34 million this season. But hey: since Reinsdorf bought 56% of the Bulls for $9.2 million the year after Jordan arrived, his investment has grown more than 1,000%--the team is now worth well over $200 million." -- Roy S. Johnson, author on www.money.cnn.com. Articles from the Chicago Tribune.
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| The $9 Billion Dollar Man |
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