While playing golf together, Michael Jordan advised Charles Barkley to restructure his Nike deal — instead of taking $3 million a year in cash, Jordan suggested taking $1 million and converting the remaining $2 million into stock options.
Barkley’s advisors were skeptical of the risk, but he trusted Jordan’s business instincts. Nike was trading at just over $1–2 per share in the early 1990s; it has since climbed to around $62.76 per share. That growth turned Barkley’s bet into a roughly $50 million windfall.
Jordan himself has benefited enormously from Nike — the Jordan Brand recently surpassed $5 billion in annual revenue, and Jordan collects 5% based on his original licensing deal, a payout that now exceeds double his entire NBA career earnings.
How Michael Jordan helped Charles Barkley get richer
While playing golf together, Michael Jordan advised Charles Barkley to restructure his Nike deal — instead of taking $3 million a year in cash, Jordan suggested taking $1 million and converting the remaining $2 million into stock options. Barkley’s advisors were skeptical of the risk, but he trusted Jordan’s business instincts. Nike was trading at…
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