Friday, February 15, 2013

MJ at 50: Still above the rim

The enduring staying power of Brand Michael Jordan is as phenomenal and his stellar NBA career. It's been a minute since Mike has laced up a pair of, uhh, his own MJ kicks for a NBA game. Yet and still, Mike remains one of the top trending stories of the sports world.

The Charlotte Bobcat owner -- at age 50 -- is still among the sports world leaders in income. Mike rakes in a cool 60 to 80 mill a year. Check out this article:

Michael Jordan turns 50 on Sunday and retrospectives of his career have been getting heavy airtime this week. The highlights include his six titles with the Chicago Bulls, his impact on athlete marketing and countless unforgettable moments on the court (“flu” game; switching hands driving the lane; the “shot” versus the Cavs). Los Angeles Lakers forward Antawn Jamison opined last week that Jordan could still average double-digit points in the NBA. I think it is safe to say we’ve seen the last of MJ soaring above the rim after hitting the half-century mark with three retirements already under his belt. But Jordan the business? It is stronger than ever.
Jordan earned an estimated $80 million last year from corporate partners Nike, Gatorade, Hanes, Upper Deck, 2K Sports, Presbyterian Healthcare and Five Star Fragrances. Other Jordan assets include six restaurants, a North Carolina car dealership, a motorsports team and his 80-percent stake in the Charlotte Bobcats. Jordan out-earns almost every member of the world’s highest-paid athletes 10 years after his last NBA game (Floyd Mayweather topped Forbes' June 2012 list with earnings of $85 million).
The Jordan Brand, a division of Nike, is responsible for the vast majority of MJ’s earnings. Jordan partnered with Nike after being drafted by the Bulls out of North Carolina in 1984. The original five-year deal was worth $500,000 annually, plus royalties. The terms of Jordan’s current deal with Nike are a closely guarded secret, but royalties now generate more than $60 million annually for MJ, according to sources. read more

To the haters
His loot and he can do what he wants. I am just hoping that instead of being like Mike he would be a lil more like Magic --  by investing in urban America. Magic, btw, has set the template: Investing in urban America is about making profits by tapping into under-served and under-developed markets.
As Magic states:
“Improving the quality of life for people residing in urban areas is my life’s passion, and through Magic Johnson Enterprises we have been part of positive change in these communities.”

Happy 50th MJ!

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