NBA Hall of Fame legend Michael Jordan is no stranger to selling sneakers and shoes. Although Jordan eventually inked a deal early in his career with Nike to sponsor his signature Air Jordan sneaker, in 1984 during the Olympics, Jordan wore sneakers by Converse. More importantly, that year the United States team defeated Spain to win the gold medal.
The Converse sneakers that Jordan wore while winning the gold were auctioned off for a record-breaking $190,000 sale. The previous record was held by another Jordan sneaker which was the 1997 "flu game" that he wore against the Utah Jazz in the NBA Finals.
That shoe sold for much less than the Olympic shoes totaling over $104,000. The record-breaking Olympic shoes were given to an 11-year old boy after the game by Michael Jordan himself with his signature as well.
The sale of the shoe occurred early this morning. The shoes, in particular, were also the last pair of sneakers, Jordan wore while playing as an amateur. According to The Washington Post, "they were grabbed after the game by the 11-year-old ballboy son of the Los Angeles Lakers' Gail Goodrich.
Deal with Nike and success of Air Jordans
Not too long after the beginning of Jordan's 1984 rookie season, he inked a sneaker deal with Nike. They would not officially release the signature Air Jordan shoes with the logo until 1985.
According to Footlocker.com, Nike initially signed "Michael to a five-year endorsement contract worth a reported $2.5 million (plus royalties)." They also indicated that "during the 1985 NBA season, Michael wore the Air Jordan 1, which retailed for $65 - at the time, the most expensive basketball shoe on the market."
Since the beginning days of the Air Jordan sneakers, the brand has continued to hold down their spot as the number one selling basketball shoe still to this day.
Jordan has released 31 signature shoes that are sported by several superstar players that play in the NBA.
Expanding the brand
Several superstar NBA players hold endorsement deals with the Air Jordan brand. Russell Westbrook, Chris Paul, Carmelo Anthony, and Kawhi Leonard are just a few to name. Dwyane Wade also held an endorsement deal with Jordan for a substantial amount of his soon to be Hall of Fame career.
The level of success and the way Michael Jordan has been able to operate his own brand as a partner of Nike has yet to be exceeded or duplicated by any other NBA player. This year, Lavar Ball, the father of the No. 2 projected pick in this year's NBA Draft Lonzo Ball, has tried to take it up a notch with the self-branding of NBA players. His Big Baller Brand has created his son Lonzo's first signature shoe the ZO2's and priced it at a shocking $495.
Like Jordan, Ball will have to play too high standards if the shoe can have any kind of huge success. However, most fans have been critical of the move considering the great Michael Jordan doesn't even price his sneakers that high. Either way, Michael Jordan's success in the sneaker business has inspired the competition to try and take things to the next level.
