Media Figure and Business Interests
Jordan is one of the most marketed sports figures in history. He has been a major spokesman for such brands as Nike, Coca-Cola, Chevrolet, Gatorade, McDonald's, Ball Park Franks, Rayovac, Wheaties, Hanes, and MCI. Jordan has had a long relationship with Gatorade, appearing in over 20 commercials for the company since 1991, including the "Like Mike" commercials in which a song was sung by children wishing to be like Jordan.
Nike created a signature shoe for him, called the Air Jordan. One of Jordan's more popular commercials for the shoe involved Spike Lee playing the part of Mars Blackmon. In the commercials Lee, as Blackmon, attempted to find the source of Jordan's abilities and became convinced that "it's gotta be the shoes". The hype and demand for the shoes even brought on a spate of "shoe-jackings" where people were robbed of their sneakers at gunpoint. Subsequently Nike spun off the Jordan line into its own division named the "Jordan Brand". The company features an impressive list of athletes and celebrities as endorsers. The brand has also sponsored college sports programs such as those of North Carolina, Cincinnati, Cal, St. John's, Georgetown, and North Carolina A&T.
Jordan also has been associated with the Looney Tunes cartoon characters. A Nike commercial shown during the 1993 Super Bowl XXVII featured Jordan and Bugs Bunny playing basketball against a group of Martian characters. The Super Bowl commercial inspired the 1996 live action/animated movie Space Jam, which starred Jordan and Bugs in a fictional story set during his first retirement. They have subsequently appeared together in several commercials for MCI.
Jordan's yearly income from the endorsements is estimated to be over forty million dollars. In addition, when Jordan's power at the ticket gates was at its highest point the Bulls regularly sold out every game they played in, whether home or away. Due to this, Jordan set records in player salary by signing annual contracts worth in excess of US $30 million per season. An academic study found that Jordan’s first NBA comeback resulted in an increase in the market capitalization of his client firms of more than $1 billion.
Most of Jordan's endorsement deals, including the first deal with Nike, were engineered by his agent, David Falk. Jordan has said of Falk that "he's the best at what he does", and that "marketing-wise, he's great. He's the one who came up with the concept of 'Air Jordan.'"
In June 2010, Jordan was ranked by Forbes Magazine as the 20th most powerful celebrity in the world with $55 million earned between June 2009 and June 2010. According to the Forbes article, Jordan Brand generates $1 billion in sales for Nike.
Read more about this topic: Michael Jordan
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