"I actually made 10x the amount"- How Michael Jordan helped Charles Barkley make more money from NIKE
Charles Barkley went on his podcast The Steam Room with Ernie Johnson and told an interesting story about some advice the great Michael Jordan gave him in early 1990s.
Jordan imparted some wisdom to the “Round Mound of Rebound” when the two were young players signing their first shoe deals.
Barkley told the story of what Jordan told him about Barkley’s shoe contract.
“We both go to Nike. They signed Michael and me. Michael gave me great advice. He said ‘hey man, why do you need all that money?’ I was like, ‘dude what are you talking about?’”
Jordan gave Barkley a tip on how to restructure his deal and not think in the short term.
“I was looking at your contract and you are making three million dollars. Tell Nike you want one million and the rest in stock options,” said Jordan. “It is a good idea if they (Nike) will be great.”
NBA Legend Charles Barkley said Micheal Jordan convinced him to convert his paycheck from Nike into stock options & he made 10X more money. “I only listened because he was the greatest basketball player of all time.” twitter.com/i/web/status/1… https://t.co/qFWp6FTf0Z
Michael Jordan was the G.O.A.T. friend with this piece of advice
Michael Jordan was obviously right as Nike has grown into an international behemoth. The corporation is one of the most recognizable brands in the world and is the leading company in sports apparel and sneakers.
Nike is a publicly traded company and is currently trading at a stock price of $125.86. The stock price was at a lowly $2.28 in 1992 when Barkley signed his deal with Nike. His original deal was for $2 million.
“I actually made probably 10 times the amount of money and I am still with Nike to this day,” said Barkley.
Barkley first wore the Air Force Max CB shoes on the court after signing with the brand. He went on to have seven different signature shoes with Nike during his deal.
Michael Jordan, of course, turned his Nike deal into the most successful athlete endorsement of all time. He now has his own iconic Jordan Brand under Nike. His shoes are a significant element of fashion and culture and continue to be worn today.
Jordan has made an estimated $1.3 billion from his deal with Nike. He reportedly made $256 million in 2022 alone from his sponsorship. That figure is more than double Jordan’s entire career earnings.