Despite Investing 8 Times More in $1.2 Billion Project, Derek Jeter Took Billionaire Friend Michael Jordan?s Advice in MLB Project

There are probably very few like Michael Jordan when it comes to business. Of course, several NBA players have got what they need to build a successful company or an investment. NBA stars such as LeBron James, Shaquille O’Neal, and Magic Johnson are the perfect examples. However, not all NBA players can boast of having a net worth of over $1.5 billion, well…other than King James, who is worth $1.1 billion. However, it has almost been two decades since Jordan retired and His Airness still remains the richest NBA player of all time.

Many sports players go bankrupt within five years of their retirement. However, MJ’s brilliant business acumen only bought opportunities to earn more bucks. Three years after retirement, Jordan bought minor shares of the Charlotte Hornets. Eventually, MJ became the major shares’ owner of the NBA team after spending a whopping $180 million. While the team has yet to make a significant impact on the league, its value sure has increased to $1.8 billion. Further, the six-time NBA champion has other means of making millions, i.e. the Nike deal.

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Jordan first signed with Nike in 1984, when he was still a rookie. The deal turned out to be a major game-changer for both MJ and the company. In fact, MJ still collects more than $100 million annually from the Nike deal. Back in 2017, Jordan even bought a minor stake in an MLB team to help out a friend.

Michael Jordan helps out Derek Jeter

Derek Jeter is a former professional baseball player who entered the MLB league through the 1995 draft. Jeter played for the New York Yankees for his entire career. After having a successful run as an MLB star, Jeter retired from the league in 2014. The five-time World Series champion then roped in his good friend, Michael Jordan in one of the potential buyers’ groups for the Miami Marlins. The duo successfully bought minor shares of the baseball team and Jeter took on the role of the CEO in 2017 after buying the team for $1.2 billion.

However, Jeter failed to help the Marlins rise to the top. In fact, the team was visibly struggling in the field after they made the sale. So, Jeter then turned to the one person he believed would provide him with a piece of helpful advice.

?If you believe in the plan, stick to the plan. Don?t alter it midstream,? MJ told Jeter.

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However, Jeter announced in February 2022 that he would step down from the position of CEO. Additionally, he announced that he would sell his stake in the MLB franchise.