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It Might Go Better

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Summary

In 1984, Nike pursued a sponsorship deal with Michael Jordan, despite his lack of NBA experience. His agent David Falk was so desperate to get Jordan to listen, he had to call his mom and make him go to the meeting. Nike pulled out all the stops and offered him a five year $500,000 annual contract and his own shoe line, using their new 'air sole' technology. Despite the long shot of Nike making a shoe line around a single player in a team sport, it went incredibly well, selling $126 million in the first year. Over the last 40 years, the Jordan-Nike collaboration has made billions of dollars, making Jordan a billionaire and generating billions in profit for Nike. This story serves as a reminder that it might go even better than we expect.

Q&As

How did Nike initially court Michael Jordan for a sponsorship deal?
Nike initially courted Michael Jordan for a sponsorship deal by offering him a pitch.

What prompted David Falk, Jordan's agent, to call his mother?
David Falk, Jordan's agent, called his mother to get him to listen to Nike's pitch.

What was the offer Nike proposed to Jordan?
Nike proposed to Jordan an offer of his own shoe line using their latest technology, “air soles”, and they paid him $500,000 per year for five years.

How well did the Nike-Jordan collaboration perform in its first year?
The Nike-Jordan collaboration performed exceptionally well in its first year, selling $126 million worth of Air Jordans.

What has the Jordan-Nike collaboration generated in profit over the last 40 years?
The Jordan-Nike collaboration has generated billions in profit over the last 40 years.

AI Comments

👍 Great article on the relationship between Nike and Michael Jordan! It's amazing to see their journey from a seemingly unlikely partnership to one of the most successful partnerships in sports history!

👎 The article glosses over the details of the partnership between Nike and Michael Jordan and focuses more on the success that followed it. I would have liked to have seen a bit more detail on the negotiations.

AI Discussion

Me: It's about the success of Nike's partnership with Michael Jordan. It talks about how Nike took a risk when they approached MJ for a sponsorship, and how it paid off beyond their wildest expectations.

Friend: Wow, that's incredible. It's a great reminder that taking risks can pay off.

Me: Absolutely. It also serves as a reminder that sometimes you never know how successful something can be until you try it. Nike likely thought they would have some success when they pursued Jordan, but they never expected it to be as successful as it has been. It shows that you can exceed your expectations if you take a chance.

Action items

Research the upcoming movie Air and The Last Dance documentary to gain a better understanding of the story of Michael Jordan and Nike.
Reach out to David Falk, MJ’s agent, to learn more about the negotiations between Nike and Jordan.
Consider the lessons of Nike and Jordan’s partnership when making decisions in your own life and business.

Technical terms

Sponsorship deal: an agreement between two parties in which one party provides financial or other support to the other in exchange for advertising or other promotional activities.
Air soles: a type of cushioning technology used in Nike shoes that provides extra comfort and shock absorption.
Ambassadors: a person who acts as a representative or promoter of a company, organization, or country.
Inking the deal: signing a contract or agreement.
Collab: short for collaboration, a joint effort between two or more people or organizations.
Hoop: a goal or objective.