The combined value of the 29 NBA teams in 1998 was $6 billion, Michael Jordan had an estimated $10 billion impact on the US economy in the same year

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The NBA was on the verge of bankruptcy in the late 1970s. But it was saved by the epic rivalry of Magic Johnson and Larry Bird. The rivalry has helped the league pick itself up and think about increasing its popularity.

The greatest contribution to the rise of the NBA as the best basketball league in the world has been made by none other than Chicago Bulls legend Michael Jordan. Entering the league in 1984, MJ didn’t take long to become a superstar and had an instant impact on the popularity of the league.

But it was really in the 1990s that Mike began to dominate the NBA. He led the Chicago Bulls to six NBA championships in six trips to the NBA Finals. More importantly, Jordan has helped the league increase its popularity overseas.

Soon most of the world knew about the NBA due to Mike’s incredible ability to play basketball. Besides that, Jordan has also helped players earn money through sponsorship deals. NBA Hall of Famer Charles Barkley even praised Michael for paving the way to huge earnings through sneakers and trade deals with other NBA players.

During Mike’s playing days, players’ salaries weren’t that high, but they could make a lot of money through sponsorship deals. Jordan himself did this by signing with Nike and skyrocketing the popularity of basketball sneakers.


The true worth of Michael Jordan

We are sure that majority of the fans are aware of Jordan’s impact on the things mentioned above. But the idea of ​​Jordan’s true worth can only be realized by knowing how much he has contributed to the American economy.

According to a report published by Fortune magazine in 1998, MJ contributed $10 billion to the United States economy. Still not surprised? Well, at the time, the combined value of all 29 NBA franchises was just over $6 billion.

Via Deseret:

Michael Jordan’s slam dunk career had a $10 billion MVP impact on the economy, Fortune magazine estimates.

From the sale of sneakers, underwear and cologne, Jordan is also influential in increasing TV ratings and admissions revenue for basketball teams, l increased sales of NBA paraphernalia and a range of sports videos and books.

Since 1990, when the Jordan-led Chicago Bulls won their first of five championships, TV ratings, ticket sales, television rights, National Basketball Association retail sales and player salaries players have all increased.

With the help of outside economists, Fortune estimates that Jordan’s personality and product line have earned sneaker and sportswear maker Nike Inc. $5.2 billion. Other companies whose products he endorses have obtained an increase estimated at 408 million dollars.

The magazine also attributes $3.1 billion to increased sales of NBA-licensed caps, shirts, jerseys and related merchandise since Jordan joined the league in 1984.

Other than that, MJ’s presence on the field has brought in millions in additional revenue for the league in terms of attendance, TV and cable revenue. Another addition to this was Jordan’s Space Jam movie.

At the time, it grossed $230 million at the box office and another $209 million in video sales. Combining all of these things, it’s easy to see how Mike contributed approximately $10 billion to the US economy in 1998.

Fast forward to 2022, the Jordan brand is still going strong. This year, the brand reached $5 billion in annual sales for the first time.

At the end of the day, Michael Jordan is truly one of a kind. Although many other players had an influence on the fans, it is certain that we will never see the impact Jordan had on the NBA again. Some NBA stars might get closer to him in the future, but it’s still never going to have the same impact Michael Jordan had in the 1990s.

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