Michael Jordan will surpass lifetime Nike earnings in a single $3 billion deal

After agreeing to sell his shares in the Charlotte Hornets for $3 billion, NBA legend Michael Jordan will earn a $2 billion profit, surpassing the $1.8 billion he has made with Nike over 40 years. 

Jordan agreed to sell his majority stake in the team last Friday, ending a 13-year tenure as the team's owner. The sale is the seventh most-expensive sale price ever in sports franchise history, with six of the top seven deals happening within the last four years. 

 Details surrounding the sale confirm that Jordan will keep a minority stake in the team after the deal is approved, while reports have stated that the former owner will still have a say in who the team selects in the upcoming NBA Draft. 

 MJ is widely considered as the greatest player in NBA history. After his official departure, the NBA will no longer have any African-American majority owners. In 2010, Jordan bought the then-Charlotte Bobcats from BET co-founder and RLJ Companies founder Bob Johnson for $180 million. 

Further reports have suggested that Jordan only put down $25 million in cash on the equity valuation at the time, with the remaining millions of enterprise value mostly being made up of existing debt on the team's business. 

 According to Spotrac, Jordan earned $93,877,500 in total cash throughout his playing career, with $250,000 in signing bonuses. In 40 years with Nike as a signature athlete and business partner, Jordan has earned approximately $1.8 billion. 

Regardless of the team's success on the court, Jordan's ownership is still one of his most lucrative business endeavors. The value of the NBA franchise skyrocketed, resulting in the sale being 11 times more than the average evaluations from the NFL, NBA, and MLS franchises.