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There’s a popular claim going around that Nike pays Michael Jordan 250 million dollars per year as part of a lifetime deal. That part is not exactly true, but the real story is just as impressive. Michael Jordan does not receive a fixed yearly salary from Nike. Instead, his genius 1984 contract gave him something unheard of at the time: a percentage of all Air Jordan sales. That royalty deal is what changed everything. Because of that structure, Jordan still earns money every single year based o
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It’s hard to imagine a sneaker more iconic than the Air Jordan. Today, retro Jordans of all types and colors sell out instantly on the SNKRS app and in stores across the country. In May 2020, a pair of Jordan 1s that Michael Jordan wore sold for $560,000 at auction. Jordan the brand has mastered the art of weaving nostalgia into current trends through collaborations with designers and artists like Travis Scott. Here’s how the brand built a diehard following, on its way to becoming a $3.6B empire
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