Jordan, the lottery results
We all know the influence of Jordan Jorand brand on the sports shoes market, and what influence Jordan has brought to Nike. 1984 Nike is just an authentic small brand company, which is not well known to everyone. On the contrary, the best Adidas and converse were Jordan's choices, but everything paid off. Jordan finally chose Nike's five-year, $5.2 million contract. At that time, 5.2 million was definitely a huge sum, and Jordan's salary was 550,000. At the same time, Nike made a short film for Jordan, which left a deep impression on Jordan. On the occasion of the broadcast of Jordan's documentary "The Last Dance", according to NBA business reporter Darren Lowell, after Michael Jordan was selected as the third runner-up by the Bulls in the first round of the NBA draft in 1984, Nike signed a five-year and $2.5 million high-priced sneaker contract with him.
Why is Jordan God? Nike gave him a big contract, but set the implied terms, and rookie Jordan completed all this. Nike was not as good as it is now. At that time, the NBA was ruled by converse and adidas. Nike has only a small market share, and they urgently need an opportunity to enter the NBA market. Nike prepared $2.5 million at that time, and planned to distribute the money to Jordan, Bowie, Buckley and other 1984 rookies. However, Nike scout Vaccaro is a big fan of Jordan. Vaccaro, who has met countless people, was "stunned" when he first saw Jordan's performance on the court. Realizing that this young man has great commercial value, he proposed to Nike to go all out to sign Jordan, even at the cost of 2.5 million.
You know, in the NBA at that time, only Jabbar got a sneaker contract with an annual salary of $654.38 million! What is Jabbar's level in NBA? Why a rookie can get such a big player contract, there must be many people inside Nike who object. However, under Vaccaro's constant persuasion, Nike began to reconsider Michael Jordan, and finally offered him a five-year, $2.5 million contract. However, in order to protect the interests of Nike, this contract contains some implied terms. If Jordan's rookie season is not satisfactory, his contract will be terminated.