Michael Jordan & Nike Celebrate 38 Years Together

On this day 38 years ago, NBA legend Michael Jordan signed a five-year contract with Nike.

It does not matter how many decades go by; Michael Jordan remains one of the most famous figures in the world. The NBA legend accrued countless awards throughout his 15-year career and has been equally successful off the court.

On this day 38 years ago, Jordan signed his first sneaker contract with Nike. The upstart American company placed all of its eggs in the basket of the 6'6" guard from North Carolina.

Despite favoring Adidas, Jordan signed a five-year, $2.5 million deal with Nike. It was a record-breaking contract at the time. However, Nike's gamble quickly paid off. In his first season, Jordan was voted to the Eastern Conference All-Star team and All-NBA Second Team, in addition to winning Rookie of the Year.

Nike launched the Air Jordan sneaker line in 1984 with the goal of making $3 million in the first three years. The first shoe shattered expectations, earning $126 million in one year. 

Michael Jordan celebrating his first NBA Championship with the Chicago Bulls in 1991 / © MPS-USA TODAY Sports

The rest was history for Nike and Jordan. On September 9, 1997, the two partners launched Jordan Brand (originally called 'Brand Jordan'). Since then, Jordan Brand has become a global leader in fashion and performance. 

The brand has built a sustainable business model by releasing retro models, innovating new designs, and collaborating with popular artists. Jordan Brand has a strong grip across sports and popular culture.

Nike has benefited greatly from the partnership as well. It has become the world's largest supplier and manufacturer of athletic shoes and apparel. As of October 2022, Nike has a market cap of $143.5 Billion, making it the world's 66th most valuable company.

When discussing basketball shoes, the conversation always begins and ends with Jordan. It has been 38 years since the 'GOAT' entered the sneaker business, and there is no end in sight.

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