Billionaire Michael Jordan’s Drink With Derek Jeter Was Enough for Yankees Legend to Invest in $11.69 Billion Worth Industry

Michael Jordan was seated at a multibillion-dollar table at Pasquale Jones in Manhattan’s Nolita neighborhood in 2016. Talks diverted to Michael’s choice of poison, tequila, which sadly, the restaurant wasn’t serving, and Cincoro Tequila was born. Eight years on, Jordan and his wife-finance guru Emilia Fazzalari have decided to mark a new era with a new all-star team joining the ownership group. Jordan likes to owe this to “authentic friendships.” 

Founded by a collective of NBA team owners like Jordan (before he sold his Hornets stake), Cincoro, official sponsor of the Lakers since 2019, now has athletic superstars like Derek Jeter, Serena Williams, Dustin Johnson, Keegan Bradley, and Michael Strahan in its ownership group. The new partnerships were announced at a press event at Jordan’s golf club, The Grove XXIII. The new owners also enjoyed a round of tasting during the first-ever annual owner’s meeting.

Speaking about his new partnership with Cincoro to Forbes, the Yankees icon revealed the decision to invest in it came from a profound friendship with Jordan. “I’ve been a fan of Cincoro since Michael and the rest of the team founded the brand in 2019, and he introduced me to it. I’ve always been drawn to the authenticity, commitment to the liquid and the friendships created while enjoying Cincoro. It doesn’t hurt that it tastes great.”

Interesting fact: Remember the Milwaukee Bucks’ History in the Making song in 2021? When they won the NBA championship that season, Cincoro Tequila released limited-edition bottles that had “History made” to mark the special moment that came 50 years after their first championship win in 1971.

The MLB Hall of Famer was comfortable being a consumer. However, he acquired a taste for tequila before MJ even launched it. “Michael introduced me to the tequila at his home a few months before it launched,” Jeter revealed about the brand that’s been around since 2019. “The brand has always been supportive of my golf tournament [Derek Jeter Celebrity Invitational] in the Bahamas at Baha Mar,” Jeter told Forbes.

“Cincoro has always been special to me because of the authentic friendships we’ve established around enjoying Cincoro and spending time together, designing it, experiencing it, and tasting it,” Jordan said in the press release. “And now that we’re welcoming in some of my closest friends to the business, I’m looking forward to this next era of Cincoro alongside this all-star team.”

Interesting fact: Did you know it was sold out in four markets even before its official launch party?

The value of his investment is not public but it can’t be meagre. Cincoro is a luxury tequila brand in a crowded $11.69 billion market. A single bottle of Cincoro is priced between $1,000 to $1,600. With the inclusion of its new partners, Cincoro released a new range of 375 ml bottles of Blanco, reposado, and anejo expressions.

Michael Jordan’s grand plans for Cincoro

Jordan co-founded Cincoro with Boston Celtics owner, Wyc Grousbeck, his wife, and finance wiz Emilia Fazzalari, Los Angeles Lakers boss, Jeanie Buss, and Milwaukee Bucks owner Wes Edens. The new additions come in time with Cincoro’s latest expansion, which also includes Jeter’s own celebrity event.

The original owners have forged partnerships between Cincoro and sports events like Formula 1 and the Lakers. Edens announced a special edition of Cincoro to commemorate his Bucks winning the 2021 NBA championship.

The founders made changes in the C-suite along with bringing in celebrity owners in 2023. This move is in line with plans to expand Cincoro globally. And international sports events seem to be the way to do so.