Court Dispute Reveals Michael Jordan's Name to Be Worth $480 Million or More
An interesting morsel of financial trivia arose this week from a legal battle currently being waged between Michael Jordan and a supermarket chain his lawyers claim profited off illicit use of Jordan's name.
As the Associated Press' Michael Tarm reports, the dispute stems from a 2009 Sports Illustrated print ad taken out by Dominick's Finer Foods—a defunct Illinois-based grocery store chain.
The ad in question congratulated Jordan on his Hall of Fame induction and featured a coupon with an image of a steak dinner on the bottom.
This constitutes an unauthorized use of Jordan's name, according to his lawyers, who claim in their suit that the former Bulls superstar's namesake alone is worth at least $480 million to Nike. They further stipulated that each commercial use of Jordan's name is worth more than $10 million to companies.
"What's Mr. Jordan's most valuable asset?" asked Jordan's attorney, Frederick Sperling, during opening statements, per Tarm. "It's the use of his identity."
Another individual in Jordan's corner for the dispute is Estee Portnoy, a marketing executive hired by Jordan who interpreted the ad as a belittling portrayal of the superstar's brand.
"It compares Michael to a piece of steak," Portnoy testified.
Likeness and branding rights are, unquestionably, a huge source of income for athletes and figures like Michael Jordan. It's what continues to put food on the table and Benzes in the driveway long after their playing money runs out.
In any case, it's good to know Michael Jordan's name, per commercial use, is worth more than most mansions. If only you could whisper it into an ATM and collect the sum.
Dan is on Twitter. Jordan's name > your car, business and house.
