Adidas Rejecting A Shoe Deal With Micheal Jordan Was the Worst Business Decision In History
Air Jordan Brand brought in $3.1 billion in wholesale revenue over the previous fiscal year. Micheal Jordan himself turned Nike into the most profitable and famous shoe brand in history. But this could’ve so easily been Adidas according to last nights episode of “Last Dance.” During MJ’s rookie year his agent was attempting to strike a shoe deal. MJ was an Adidas guy. He only wore adidas as a rookie and actually hated Nike. So of course the first shoe brand his argent tried to strike a deal with was Adidas. But Adidas fumbled the bag and TURNED HIM DOWN. Instead, MJ’s mom forced him to sit down with Nike and hear out their pitch. He was offered a 5 year $500,000 deal with Nike which is a no brainer, right? MJ still didn’t even want to do it, but he was ultimately forced to by his mother. So technically it was MJ’s mom who changed the shoe game forever, not MJ.
(Bleacher report gave us an idea on what could’ve been)
Adidas would ultimately make up for this when they signed famous rapper Kanye West in 2013. No I’m completely joking, they would never make up for this horrific business decision. In 2018 Nike had a revenue of $24.2 billion compared to Adidas $15 billion. Dating back to the time when MJ signed with Nike, Adidas was actually the much bigger and far superior brand. Now Adidas is by no means a failing company, but you can only wonder what they COULD have been.