The contract between Nike and basketball legend Michael Jordan might be one of the most closely guarded secrets in the market. The 42-page document stored in its own room, with only three Nike employees globally having access to the document. The document does not only outline Michael Jordan’s compensation, but also the compensation of all Jordan Brand athletes, as well as Jordan’s authority to select brand ambassadors. Described as “one of the most competitively valuable documents in the industry,” Nike might have to disclose it now as part of a court case in the United States. Michael Jordan took Safeway to court for using his name in a 2009 print ad campaign without permission.
Michael Jordan’s legal team is trying to fight the case, without unveiling the actual numbers form his various endorsement contracts, which include next to Nike also Gatorade, Sirius Radio, Hanes, Upper Deck and XEL. So far, it has come out that Jordan has brought in over $100 million in sponsorships last year. Rather than going into too much detail for now, it has been unveiled that Jordan brought in the following from 2002-2012:
– Nike: $480 million
– Sirius Radio: $25 million
– Gatorade: $18 million
– Hanes: $14 million
– Upper Deck: $14 million
– XEL: $10.6 million
The defendants are not satisfied with this breakdown yet and are demanding for the official Nike sponsorship deal to be unveiled in court. While the judge of the case has ruled against Nike’s motion to keep the unredacted document out of the court proceedings, but he has agreed to keep a close eye on it and to only unveil information that is supporting the case. The case is expected to close August 20, we have to wait and see how much information about the secretive Nike and Michael Jordan sponsorship deal is still going to be unveiled.