Michael Jordan's Business Adviser Discusses Brand Practices in Lawsuit

Legendary basketball player Michael Jordan's name is priceless in the eyes of many, but according to his business adviser, using it can be worth north of $10 million.

As reported by Kim Janssen of the Chicago Tribune, Estee Portnoy, Jordan's business adviser, revealed Thursday that XEL paid MJ $10.6 million to use his name in the marketing of a cologne without the expectation of an endorsement or even an appearance.

"Michael didn't do anything," Portnoy said.

Per the Associated Press (h/t ESPN.com), the longtime Chicago Bulls superstar is the plaintiff in a civil suit against Dominick's Finer Foods for using his likeness as part of a $2 steak coupon in a 2009 edition of Sports Illustrated.

The 52-year-old Hall of Famer was never compensated, which his legal team has argued is unacceptable considering how valuable his brand is.

Per Janssen, Portnoy insists that Jordan doesn't accept endorsement deals worth less than $10 million, although Dominick's believes that is an exaggeration based on his $500,000 agreement with SiriusXM Radio.

Even so, His Airness is very serious about preventing businesses and individuals from cashing in on his name. According to Janssen, Portnoy estimates the Charlotte Hornets owner's lawyers have sent hundreds of cease-and-desist letters to small businesses that produce things like Jordan T-shirts in hopes of discouraging large businesses from doing the same.

Although it is now defunct, Dominick's is among the bigger businesses that aren't scared away by the actions of Jordan's legal team. As evidenced by this tweet from ESPN.com's Darren Rovell, MJ's legal team is moving forward with the notion that the six-time NBA champion is more concerned with the product he is attached to than how much money he makes from it:

The concept of money has been in the spotlight throughout the trial thus far, but the idea of Jordan being portrayed as the face of a product without knowing it is a key part of the proceedings as well.

Portnoy's comments suggest Jordan is a savvy businessman who knows his worth, and while some may believe the lawsuit is unnecessary, it is consistent with how he and his team have handled these types of situations in the past.

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