QUOTE
MJ's staying power simply astonishing
Jordan still a money machine, as divorce settlement shows
November 14, 2007
According to a recent report in The Sunday Times of London, Michael Jordan has agreed to pay his ex-wife, Juanita, more than $168 million as part of a divorce settlement.
If true, that's a lot of money. If not true, that's a lot of money.
But the broader story here is Jordan's amazing reach and staying power. Think about it: The news of his impending divorce settlement did not break in Chicago or New York or even Charlotte.
It broke in London, which is not known as the Basketball Capital of the World. It is known as the Bland Food Capital of the World.
The guy hasn't picked up a basketball in more than four years, but that apparently is irrelevant. The more important factor is that he hasn't put down an endorsement contract.
Obviously, Jordan's stellar basketball career has been his entrée into the Marketing Hall of Fame, if there is such a thing. But he's so much more than that. He's a brand. An image. An icon. He's a silhouette of a soaring man in mid-dunk.
And that silhouette's hang time is astonishing. Jordan never has gone away or out of style. Kids around the world might not know much about basketball, but they know who Michael Jordan is. They wear his shoes. They wear his apparel. They still want to be like Mike even if they're not quite sure how to, like, make a layup.
We know Jordan dwells in a different stratosphere because, according to the newspaper, his deal with Juanita will be the highest celebrity divorce settlement in history, topping Neil Diamond's $156 million settlement. I know Michael likes to be the best at everything, but isn't that going a bit too far? And when you know that the man you've just beaten is responsible for "Song Sung Blue," doesn't that take away from the accomplishment?
That Jordan is a part owner of the Charlotte Bobcats is easily lost in the shadow of his brand name. If you stopped people on the street and asked them what Jordan does with himself these days, most would say he A) plays golf,
gambles, C) sells something or D) does nothing.
He's still safe, he's still magnetic, he's still bulletproof. It's why companies such as Nike, McDonald's, Hanes and Gatorade have ignored some of Jordan's peccadilloes over the years. It's why he reportedly still pulls in $20 million annually from Nike.
Forbes recently reported that Elvis Presley's estate churned out $49 million in the past 12 months. That's where Jordan is headed—no, not toward spangled jumpsuits and a bloated, drug-addled existence but toward a legacy that will keep earning and earning and earning.
It's hard to picture a time when he will fade away. For that to happen, it would take a complete collapse of the NBA or a humongous meteor hitting Earth. Ah, but you tell me to remember the past. Wasn't Wilt Chamberlain every bit the talent Jordan was? And wasn't Bill Russell every bit the winner Jordan was? And yet, you say, their names aren't quite as prominent as they once were.
And so you ask: Why will Jordan be different? Why won't he be pulled back into the shadows as he grows older, the way all stars are?
Here's why: Nobody has been the package of talent, accomplishment and marketing that Jordan is. That's why it's hard to envision a big drop-off in his popularity.
How Jordan got here and how he will get to where he's going is no secret. Compared with some of the stars today, his ascent to celebrity status was gradual. His popularity grew immensely as the Bulls kept winning.
By comparison, LeBron James signed huge endorsement deals even before he played an NBA game. So it doesn't matter that he's still looking for his first NBA title. He's what the NBA and corporate America are selling.
It's not that James lacks substance. It's that he lacks achievement. It's not his fault. He has been billed as the Second Coming of Michael. Madison Avenue is looking to fill a void that isn't there.
Here's the problem: Jordan retired (and retired) but never went anywhere. There's only one gold standard.
So now Jordan can sit back and watch his children grow up. He can watch some (OK, a lot) of his money go to his ex-wife. He can watch his son, Jeff, become the most famous college walk-on since Rudy.
Now that the divorce settlement is near, let's hope Jordan has enough cash left over to pay for his son's tuition at the University of Illinois.
rmorrissey@tribune.com
Jordan still a money machine, as divorce settlement shows
November 14, 2007
According to a recent report in The Sunday Times of London, Michael Jordan has agreed to pay his ex-wife, Juanita, more than $168 million as part of a divorce settlement.
If true, that's a lot of money. If not true, that's a lot of money.
But the broader story here is Jordan's amazing reach and staying power. Think about it: The news of his impending divorce settlement did not break in Chicago or New York or even Charlotte.
It broke in London, which is not known as the Basketball Capital of the World. It is known as the Bland Food Capital of the World.
The guy hasn't picked up a basketball in more than four years, but that apparently is irrelevant. The more important factor is that he hasn't put down an endorsement contract.
Obviously, Jordan's stellar basketball career has been his entrée into the Marketing Hall of Fame, if there is such a thing. But he's so much more than that. He's a brand. An image. An icon. He's a silhouette of a soaring man in mid-dunk.
And that silhouette's hang time is astonishing. Jordan never has gone away or out of style. Kids around the world might not know much about basketball, but they know who Michael Jordan is. They wear his shoes. They wear his apparel. They still want to be like Mike even if they're not quite sure how to, like, make a layup.
We know Jordan dwells in a different stratosphere because, according to the newspaper, his deal with Juanita will be the highest celebrity divorce settlement in history, topping Neil Diamond's $156 million settlement. I know Michael likes to be the best at everything, but isn't that going a bit too far? And when you know that the man you've just beaten is responsible for "Song Sung Blue," doesn't that take away from the accomplishment?
That Jordan is a part owner of the Charlotte Bobcats is easily lost in the shadow of his brand name. If you stopped people on the street and asked them what Jordan does with himself these days, most would say he A) plays golf,
gambles, C) sells something or D) does nothing.He's still safe, he's still magnetic, he's still bulletproof. It's why companies such as Nike, McDonald's, Hanes and Gatorade have ignored some of Jordan's peccadilloes over the years. It's why he reportedly still pulls in $20 million annually from Nike.
Forbes recently reported that Elvis Presley's estate churned out $49 million in the past 12 months. That's where Jordan is headed—no, not toward spangled jumpsuits and a bloated, drug-addled existence but toward a legacy that will keep earning and earning and earning.
It's hard to picture a time when he will fade away. For that to happen, it would take a complete collapse of the NBA or a humongous meteor hitting Earth. Ah, but you tell me to remember the past. Wasn't Wilt Chamberlain every bit the talent Jordan was? And wasn't Bill Russell every bit the winner Jordan was? And yet, you say, their names aren't quite as prominent as they once were.
And so you ask: Why will Jordan be different? Why won't he be pulled back into the shadows as he grows older, the way all stars are?
Here's why: Nobody has been the package of talent, accomplishment and marketing that Jordan is. That's why it's hard to envision a big drop-off in his popularity.
How Jordan got here and how he will get to where he's going is no secret. Compared with some of the stars today, his ascent to celebrity status was gradual. His popularity grew immensely as the Bulls kept winning.
By comparison, LeBron James signed huge endorsement deals even before he played an NBA game. So it doesn't matter that he's still looking for his first NBA title. He's what the NBA and corporate America are selling.
It's not that James lacks substance. It's that he lacks achievement. It's not his fault. He has been billed as the Second Coming of Michael. Madison Avenue is looking to fill a void that isn't there.
Here's the problem: Jordan retired (and retired) but never went anywhere. There's only one gold standard.
So now Jordan can sit back and watch his children grow up. He can watch some (OK, a lot) of his money go to his ex-wife. He can watch his son, Jeff, become the most famous college walk-on since Rudy.
Now that the divorce settlement is near, let's hope Jordan has enough cash left over to pay for his son's tuition at the University of Illinois.
rmorrissey@tribune.com