Don’t Approach MJ for Endorsement Deal Unless You’ve Got $10M in Your Pocket
Michael Jordan is a man who may not be an expert in running a basketball team but seems to know how to capitalize on his name, image, or likeness.
Jordan’s advisor Estee Portnoy testified that for a business proposal to reach Jordan’s desk, the deal must be at least $10 million. Portnoy also said that rather than signing on a one-time use, Jordan typically bundles up his image rights and endorsements into a package to protect the value of his brand.
Portnoy testified on behalf of Jordan in the suit against defunct grocery chain Dominick’s. Similar to its competitor Jewel-Osco, Dominick’s also ran a congratulatory ad when Jordan was inducted into the Basketball Hall of Fame in 2009. The court has already found Dominick’s liable for misappropriating Jordan’s name and number used in the ad. The current trail will decide how much Dominick’s must pay.
According to court documents, Jordan earned more than $500 million from endorsements alone from 2000 to 2012. The Bulls great may testify as early as today.