Known for his prowess on the hardwood, NBA legend Michael Jordan rakes in just as many dollars off the court as he does on. Sponsorships by several major businesses, including NIKE, have allowed Jordan to earn an extra $40 million a year on top of his already $500 million net worth.
Michael Jordan, even though retired, still remains a spokesperson for his most recent endorsement deal with Hanes clothing. He serves as a model for their male underwear collection. Nike is also another company that still sponsors Jordan as well.
At the start of his career, NIKE, Jordan’s top sponsor, paid him nearly $20 million dollars a year in order to put his signature logo on their products. Now that price is up to $40 million. In 2010, according to Forbes Magazine, Jordan products generated nearly $1 billion dollars in sales for NIKE.
Nike and Hanes were not Jordan’s only endorsement deals. He was also a feast for the eyes in ads by Gatorade for their drinks, and by McDonald’s, Ball Park Franks, and Wheaties. Even his scent brought him fame through sponsorship of the MJ Cologne brand
For several years of his legendary basketball career, Michael Jordan was the highest paid athlete in the world, even managing to eclipse golfer Tiger Woods, as reported in the Forbes 2007 richest athletes list.
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