Entrepreneur focus – Michael Jordan

Flikr-2 Photo courtesy of Flickr

Who is he?

Michael Jordan, better known as MJ, is an American former professional basketball player, who in 1999, was named the greatest North American athlete of the 20th century by ESPN. He was born in Brooklyn, New York, and later moved to North Carolina with his parents and 4 siblings.

Jordan holds five Most Valuable Player (MVP) awards and the record of the oldest player in NBA history to score 40 points in a game. He has played in two Olympic gold medal-winning American basketball teams, is a 10 time NBA scoring champion and has never lost in the finals!

In business

He is also a businessman, and principal owner and chairman of the Charlotte Hornets, an American professional basketball based in North Carolina and was one of the most effectively marketed athletes of his generation.

Jordan has been a major spokesman for such brands as Nike, Coca-Cola, Chevrolet, and has had a long relationship with Gatorade, appearing in over 20 commercials for the company since 1991.

He had a signature Nike shoe created for him, named the Air Jordan, which were introduced in 1985 and remain popular today. With the popularity of this, Nike spun off the Jordan line into its own division named the “Jordan Brand” which, according to a Forbes article, generated $1 billion in sales for Nike. Due to endorsements alone, Jordans yearly income is estimated to be over forty million dollars and taking into consideration his basketball games both home and away, he set records in player salary by signing annual contracts worth in excess of US $30 million per season.

After his third retirement in 2003, Jordan focused on his many businesses and had been heavily promoting his Jordan Brand clothing line, which has made donations to Habitat for Humanity and a Louisiana branch of the Boys & Girls Clubs of America. He also owned Michael Jordan Motorsports, a professional closed-course motorcycle road racing team that competed with two Suzukis in the premier Superbike championship sanctioned by the American Motorcyclist Association (AMA) until the end of the 2013 season.

Flikr-1Photo courtesy of Flickr

In June 2010, MJ was ranked by Forbes magazine as the 20th-most powerful celebrity in the world, with $55 million earned between June 2009 and June 2010 and 4 years later, was named the first NBA player to become a billionaire, after he increased his stake in the Charlotte Hornets from 80% to 89.5%.

A year after this, Jordan was honoured with the Charlotte Business Journal’s Business Person of the Year for 2014 and as of November 2015, his current net worth is estimated at $1.1 billion by Forbes.

Our tribute to Michael Jordan

SUite

Our Michael Jordan Suite is full of memorabilia from various sports; a wall mural of the Wimbledon crowd, an inspirational quote from Michael Jordan himself, a pool table and a TV showing classic football matches, boxing matches and more.

Fancy challenging us to a game? Tweet us at @sedulogroup or email Jules and she’ll get you set you up for a match!

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