Making an Insane 7 Figure Amount in Just 5 Hours, Nike Had Only $3 Million a Year Expectations From Michael Jordan

Michael Jordan single-handedly broke Nike’s expectations when signed with them in 1984 as a rookie. Initially, Jordan was about to sign with Converse as they were the pioneers in basketball shoes then. Legends like Larry Bird and Magic Johnson would wear them, and Michael wanted to be in the likes of the greats.

However, Nike offered Jordan $500.000 to sign with them, outclassing any other offer. They offered MJ a far more lucrative contract than any other competitor out there, and the rest is history.

Reportedly, Nike expected Jordan to attract $3 million in sales in the first four years. Little did they know that MJ was about to change the course of the industry. It is reported that MJ today helps Nike make $3 million every 5 hours. This is one of the wildest phenomena out there.

From expecting to hit a target in four years to make it in just five hours is bizarre. The first year saw Jordan selling$126 worth of units. This was much beyond Nike’s wildest dreams. It is the most Michael Jordan thing ever; to accomplish the unexpected.

Michael Jordan shocked Nike

The Chicago Bulls legend released the ‘Air Jordan 1’ in 1984. Nike and Jordan marketed it as no other shoe had ever been portrayed. They proclaimed that the NBA reportedly even banned Jordan’s shoes. Nike paid a $5000 fine every time he wore the shoe.

READ MORE:?$5 Billion a year business of Michael Jordan and Nike that was made possible due to the courage shown by 1 man

This was false as the NBA never banned the sneaker. They banned a different shoe that Jordan had worn before. The shoe that was originally banned was ‘The Air Ship’ due to the league’s color policy in sneakers.

This led to a meteoric rise for the sneaker. Jordan has reportedly amassed over $1.3 billion from his Nike deal and is responsible for $5 billion of the company’s revenue. Nike was, in a way, revived by Jordan joining forces with them. They would have never imagined that he would sell $126 million worth of units in just one year.

The Jordan brand is the biggest in the world

Nike’s Jordan brand is responsible for 8% of its revenue. According to Forbes, Michael Jordan’s basketball sneakers line is 83% of the entire industry. He has been out of the league for over two decades and surpasses this generation’s superstars like LeBron James and Stephen Curry in the industry.

https://twitter.com/DailyLoud/status/1560750914377588736?s=20&t=_wieZHEOLxoCu88bgkM9UA

WATCH THIS STORY: 3 Times Stephen Curry lost his cool on the court

From the very beginning, Nike and the Jordan brand were breaking records. The $126 million in his rookie year was a feat that would remain unmatched. It is reported that in 2019 Jordan made $161 million from his collaboration with Nike alone.