25 of the Most Memorable Business Ventures of Michael Jordan
25 of the Most Memorable Business Ventures of Michael Jordan
Despite not lacing up the sneakers for a decade now, Chicago Bulls legend Michael Jordan continues to make over $80 million a year, which is more than just about any active professional athlete in the country.
Michael Jordan always made a name for himself on the court, but off the court, he was just as recognizable. Just about every boy growing up in the Chicago area...O.K. every boy growing up in America, had a poster of Michael Jordan on their wall. Posters weren't the only way you could see him outside of a Bulls game, though.
There were Jordan shirts, hats, drinks, blankets and probably even officially licensed sporks (which if you can find, please let us know). While many people in the world envy the basketball skills he has, just about everyone else salivates over his net worth as his portfolio diversifies to the point where a stockbroker would drool with jealousy.
Not every business venture has been a success. Most can argue that his worst investment was his marriage and subsequent divorce. That's another story, though.
From batteries and hot dogs to automobiles and bowling balls, Jordan has had his face/name/voice/digital image on just about everything under the Sun. We aren't going to stop seeing him anytime soon, and as we approach the basketball icon'a 50th birthday, let's reflect on some of the most memorable ventures into the world of business. Some will make you cringe, some will make you laugh, but mostly they will just make you jealous.
Coca-Cola
Not only has Michael Jordan appeared in commercials for Coca-Cola (including one of him slam-dunking a six pack of Coke cans into a treehouse for thirsty children) but they even sponsored cards that featured some of his greatest moments.
The slogan for Coke at the time was "Can't beat the real thing" and Jordan certainly supplanted himself as being the real deal in the NBA. There's no report as to how much he was paid by the soft drink giant, but a few national commercials as a spokesman and multiple full-page magazine advertisements was sure to pull in a few million dollars.
He would, however, defect from Coca-Cola to move over to Gatorade which is owned by Pespi, but we'll get to that as well.
Chevrolet
Although it may not have been as glamorous (or profitable) as some of his nationwide ad campaigns, folks in Chicago will remember his endorsement with Chevy dealers and the low-budget commercial that went along with it.
There really wasn't much to it, just random folks on the streets of Chicago asking Jordan (while driving a Chevy Blazer) what his favorite things are. The end came when one guest asked what his favorite endorsement was. A bottle of Gatorade, a hamburger and a shoe popped up in thought bubbles above his head before the car, so you know where his priorities were.
Gatorade
If you ever associated Michael Jordan with any other sports drink besides Gatorade in the past two and a half decades, you haven't been paying much attention.
There were commercials, cards, posters, magazine ads, and of course, bottles that adorned both Jordan's face and the Gatorade logo not too far from it.
Aside from Tiger Woods, Jordan is the only other athlete to have his own face featured prominently on Gatorade bottles across the globe. Jordan may not have had specific flavors the way that Woods did, but the drink has become synonymous with Jordan.
McDonald's
Perhaps one of the most endearing and time-tested commercial that Jordan ever made was with Larry Bird in a McDonald's ad where the two were playing horse in an empty arena over a Big Mac. I'm assuming the two of them both could have bought their own Big Mac, as well as hundreds of their own McDonald's franchises, but competitiveness has no price.
McDonald's also went as far as to make their own special BBQ sauce for Jordan, which they creatively dubbed "McJordan Sauce". Clever. Regardless, that limited produced item fetched almost $10 thousand at an auction. Unbelievable.
Ball Park Franks
Back in 1993, there was a commercial that showed Michael Jordan being distracted by the delicious Ball Park Frank hot dogs showing on the scoreboard above the court. He then, comically, leaped about 25 feet into the air to grab one from said scoreboard.
I'm not sure how that's possible, but there are many things that Jordan has done in his career that didn't seem possible so we'll let it slide. The ads fell a little flat compared to most, but if you want a good chuckle, it's certainly worth a view.
Also, it doesn't look like Jordan was eating a lot of Ball Park Franks or McDonald's back in his prime. It was a false hope for many of us in America.
Rayovac
When you think of Michael Jordan, what is the first thing you think of? Oh, it wasn't batteries? Oh well.
In the early 1990's, though, whenever you got a coupon for a small amount of money off of Rayovac batteries, you better believe that Jordan's face was on that coupon.
In the Rayovac commercial that I could find, the first 28 seconds are a handheld device storming through a child's room as if he owns the place. Jordan quickly let's him know who the boss is when he enters with a pack of Rayovac Maximum batteries and issues a one-on-one challenge to the portable video game device. However, they did not show the competition between the two.
Wheaties
Wheaties is a bland and almost flavorless cereal that has been around seemingly forever. Most kids hadn't even tried Wheaties before Michael Jordan and the rest of the 1992 Olympics Dream Team adorned the cover and helped sell many boxes.
The Olympic team wouldn't be the only time he was on the front of the box, though. There were several instances where Jordan's face would pop off of the box and proclaim that he had to have his Wheaties.
In an attempt to be like Jordan, many kids in the nation were fooled into eating the cereal before realizing that it might not be worth it. I was one of those kids.s
MCI
Back in 1995, Michael Jordan signed a 10-year, $20 million contract with MCI to appear in advertisements. Most of the advertisements included Looney Tunes characters which depicted them getting in touch with Jordan from Toon-Town.
What is MCI, you may ask? They were a long-distance phone company that peaked in the late 1990's and folded in 2002, while still owing Jordan some money. Jordan didn't receive the payments from 2002-05 due to the bankruptcy and sued the phone company.
He didn't exactly need the money, but it was the principle of the situation. You may also remember MCI as being the company that had the naming rights to the Wizard's home arena.
Space Jam
Speaking of the Looney Tunes, Space Jam may have been the most important film in cinematic history.
Or at least, that's what I assumed when it came out. But I was just a kid, what did I know?
We had seen Jordan in dozens of commercials by the time this gem came out in 1996, but seeing the legend in a feature film with some of the all-time greatest characters was a must for many children.
To this day, I refuse to make any negative criticism about the movie. Jordan may not be the greatest actor, but Bill Murray has one of the greatest cameos ever. Topped only by his own cameo in Zombieland.
The film grossed over $90 million in the U.S., which if adjusted for inflation, would be over $160 million. Not too shabby.
Basketball, of course.
Well, if anything else, Jordan was a basketball player first and a businessman second. As the old NASCAR saying goes, "Win on Sunday, sell on Monday".
Throughout his illustrious career, Jordan eclipsed the $90 million career salary total with both the Bulls and Wizards. Most of that came in the 1996-97 and 1997-98 seasons in which he made over $30 million in each of those two seasons.
He was able to get that kind of money after hinting at a second retirement, so he got himself two separate one-year deals with those massive amounts. Proving yet again that he's not the worst businessman in the industry.
Although $90 million may be small potatoes compared to some of his career endorsement deals, that's still $90 million more than you or I will make from playing basketball.
Air Jordan
Perhaps the most recognizable symbol in all of sports is the "Jumpman" logo. The silhouette of Jordan extending for a dunk (not from Space Jam, though) can be found emblazoned on clothes and shoes all over the world.
No other athlete has had their own shoe line with the success of the Jordan brand. Not even close. Many have tried though (Starbury's, anyone?). As the cream of the crop, you can now see the Jumpman symbol sponsor some of the nation's premiere college basketball teams including Georgetown, and Jordan's alma mater, North Carolina.
It's all about brand recognition, and the Air Jordan/Jumpman series will ensure that Jordan will be forever remembered. As if the basketball stats weren't enough.
Washington Wizards
Before making a second return from retirement, Jordan invested in the Washington Wizards to become part owner and head of basketball operations.
It seemed like an obvious fit. A former basketball legend with an immense wealth buying part of the team and making basketball decisions. It wasn't a great fit, though, and the Wizards never found the success that the Bulls did while Jordan was there.
That's when he decided to take matters into his own hands and put on a Wizards uniform. It was only awkward, but it produced very mediocre results. Fans of Jordan, and basketball in general, like to pretend that his third stint in the league never happened.
Upper Deck
If you want a Michael Jordan basketball card, you can't get any other non-promotional card besides one from Upper Deck.
If you spot a Jordan card from Topps or any other competitor's, it's probably a fake unless you have a picture of him signing it. To this day, Jordan cards continue to be the most collectible of all of Topps' basketball cards.
When you have as much star power as Jordan, you get to decide what's exclusive to your brand, even if it is just sports cards. Many other players would be happy just being in the local newspaper, but they weren't as business-savvy as Jordan.
Charlotte Bobcats
Even after the mediocre romp that was Jordan's brief time with the Wizards, he decided to give it another go with the Charlotte Bobcats, and has had limited success. And I'm being very kind to MJ when I say limited.
Ever since Jordan acquired the Bobcats they have finished with records of 34-48, 7-59 and are currently in last at 12-40. Needless to say, it hasn't quite worked in Charlotte the way it did in his playing days in Chicago. Or even in Washington. That's a scary thought.
Still, Jordan is a proud and competitive man, and there isn't a lot that high profile free agents have to be offered when it comes to the Bobcats, so I will give him a pass, for now.
2K Sports
Michael Jordan has a spotty record when it comes to appearing in video games. Just like all-time greats such as Barry Bonds, it was hard to acquire the license to put them in a video game with all of their professional counterparts.
However, 2K Sports was able to get Jordan to agree to appear in NBA 2K11, which was met with fantastic reviews. The game was good before Jordan, and it got even better. In addition to being able to plug in Jordan into a current roster, you can play through all of his greatest moments as an NBA player.
It's a far cry from old "1-on-1" games that were available for the Super Nintendo and Sega Genesis in the early 90's, but it was certainly a welcomed change.
Car Dealership
If you're ever in the market for a new Nissan car and find yourself in North Carolina, why not make your way to Durham and give an already rich man your thousands of dollars?
That's right, one of the greatest athletes in American history owns a car dealership on Chapel Hill Boulevard in Durham, North Carolina. Normally you would see Jordan himself endorsing the products instead of selling them, since that would be a lot easier, but if you have the means to own your own car dealership, then why not?
The service is fantastic, by the way. At least according to the Better Business Bureau, which has the dealership rated as an A+ on their official website.
Golfing
Wouldn't you like to host your own golf tournament, where the participants are not only your friends, but also celebrities? Well, you probably don't have the clout or cash to do so, but Michael Jordan certainly does.
Although you may never get to participate in the tournament, you can still attend. And although some of the Pro-Am events don't have a lot of star power, Jordan's does. Some of the more notable celebrities to take part in the tournament are Ken Griffey, Aaron Rodgers, Ashton Kutcher, Jessica Alba, Mariah Carey, Don Cheadle and Mark Wahlberg. Not a bad list, at all. And that's just scratching the surface.
It's not just for fun, either. Much of the proceeds of the tournament are donated. That includes the Make-A-Wish Foundation ®, the James R. Jordan Foundation, Cats Care and Opportunity Village
Steakhouses
If there's one thing former athletes always turn to, business-wise, it's steak. Most assume that putting your face on a steakhouse will automatically mean success. That's not the case for most athletes, but Jordan still has three that are open and running. You can find them in Chicago, New York, and Connecticut.
Brett Favre and Don Shula have steak houses, so why not Jordan, right?
Not surprisingly, the one in Chicago has received better local reviews than the one in New York. One has to wonder if those numbers a little biased.
Attack Athletics
It had been reported back in August of 2012 that the gym in Western Chicago (Attack Athletics) partially owned by Jordan would be closing it's doors.
That is not the case, though, and the fitness center is still open. It hosts a semi-professional team currently and has four NBA-regulation sized basketball courts. However, the biggest claim to fame for the gym in the past year is when President Barack Obama took the time to shoot hoops in the facilities near election time.
And just like Jordan never lost in an NBA Finals series, Obama went undefeated in elections. Coincidence? Probably.
Charities
Some of Jordan's detractors play him off as a cocky and selfish individual. With the amount of money and time he spends with charities, though, it's hard to think that way.
In addition to the money that his golf tournament generates, Jordan has made sizable contributions to countless charities, including a donation of over $2 million to the Boys and Girls Club. Not the entire foundation, but just one single chapter. There's no telling how much he's donated to the society as a whole in his years.
Hopefully he continues to give since it has been revealed that he is still making $80 million per year, but I wouldn't worry too much about him not giving.
Oakley
If you don't remember the MARS Oakley sunglasses that Michael Jordan endorsed, then you should consider yourself lucky. Those things were a slight against God.
At the time we all thought about how "dope" they were. And yes, we used the term dop a lot back in the 1990's, that was our thing. To get an idea, just think about if the Rocketeer wore sunglasses instead of a helmet. That's what these shades were.
The primary advertisement photo featured Jordan's bust, just sitting there in a red shirt, fedora and those sunglasses. He had a smirk on his face as if he was thinking "I can't get people to buy anything". Because he could. And he did.
AMF Bowling
If you think Jordan's talents only extended through the basketball, golf and baseball worlds, you would be wrong. Bowling was also another hobby of his.
Not only did he appear in adorable commercials with kids teaching him the finer aspects of bowling, but AMF even released Michael Jordan bowling balls. It's true, the basketball star has his own bowling ball. It would be like Tiger Woods having an officially license baseball bat.
The thing is, it looks exactly like a basketball, so if you think you're going to palm it, or even shoot it, don't. They're harder to find these days, but if you hop online, I'm sure someone would be happy to sell you theirs for a price that might be ridiculous.
MJ Restaurant
There used to be a Michael Jordan's Restaurant in Chicago. The catch was, it wasn't actually owned by Jordan, himself. That's not to say he went unpaid, though.
It was established by two brothers who wanted to use his name, and they sunk over $6 million into the establishment. Jordan was able to provide his input on the decor and menu, as well. Again, he was not an owner.
Jordan had his own private dining room in the building and frequented it to see that the service was on par with his name. I have to establish this, he was not an owner of the restaurant.
It's just another example of how much of a business genius the man was. He got to open, design and eat in a restaurant without sinking his own money into it. He actually made money. For the rest of us, life isn't fair, but that's the way it is.
MJ Motorsports
As if bowling wasn't enough, Michael Jordan also got into the motorsport business. He is the current owner of Michael Jordan Motorsports, which has been running since 2004.
The race team hasn't had the success of former NFL coach Joe Gibbs has had with his NASCAR team, but they are also in different types of racing. MJ Motorsports deals in motorcycles instead of stock cars. There are currently two bikes on the team. The first is the No. 54 National Guard bike driven by Roger Hayden. The other bike bears the Jordan brand symbol, driven by Danny Eslick and has the number 23. Shocking, huh?
Nike
Debating what came first between the chicken and the egg is similar to the question of "Did Jordan make Nike or did Nike make Jordan?"
It's an age-old question that some people still debate. Converse and Adidas ended up not being matches with Jordan, but Nike took the chance and gave him a contract that he couldn't refuse. The result was the most memorable relationship between an athlete and sponsor in sports history.
It's a relationship that has lasted for almost 30 years and doesn't show signs of slowing down. From the iconic advertisements of "Just Do it", Mars Blackmon, "It Must Be the Shoes" to the spin-off Nike Jordan brand that we now see everywhere, Jordan has helped grow Nike to what it is, and vice versa.
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