Chicago Bulls

Lawyer says Michael Jordan's name is worth $480M to Nike

Published Aug. 12, 2015 4:52 p.m. ET

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Michael Jordan is involved in a lawsuit right now over a grocery store using his name and iconic number 23 to sell discounted steak. 

Part of the trial proceedings will involve disclosing how much Jordan's name is valued by his other endorsers, and the amount he's received from Nike in recent years is predictably staggering. 

From the Associated Press:

"Michael Jordan's lawyer told jurors at a civil trial on the unauthorized use of Jordan's name that the Hall of Famer's identity was worth at least $480 million to sportswear company Nike.

"In opening statements in Chicago federal court on Wednesday, the attorney said that Jordan was paid that mammoth sum by Nike from 2000 to 2012 for Jordan's endorsements."

Jordan's attorney went on to say that his client's name is worth $10 million per use.

This seems like kind of a waste of Jordan's time, considering the amount of wealth he's amassed. But he's likely there to set a precedent to prevent other companies from attempting similar stunts in the future.

(h/t: ESPN)

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