Michael Jordan will be appreciated in dollar terms
The greatest basketball player of all time, Michael Jordan filed a lawsuit against a little-known chain of stores for the illegal use of his own name. This trial would not have attracted so much attention if it were not for one nuance: the court, in fact, should assess the value of the brand “Michael Jordan”, writes “Kommersant”. In addition, during the trial, information on advertising contracts of an athlete who is one of the first billionaire athletes will be considered.
Now Jordan’s fortune, according to Forbes, is about $ 1 billion. The athlete is the richest basketball player in history. Now Michael Jordan has filed a complaint against a small chain of stores Dominick`s Finer Foods. The situation becomes even more interesting due to the fact that this network no longer exists, the actions of representatives of the trading network that were committed in 2009 are considered in the case. Then the company published a congratulation to Jordan (the athlete was admitted to the Basketball Hall of Fame) in one of the magazines, on a two-dollar discount coupon. Jordan decided that such a congratulation was the illegal use of his own name for advertising purposes, and the court agreed with this opinion.
Now, yet another lawsuit should assess the amount of damage that the trading network inflicted on the basketball player. In fact, we are talking about evaluating the Michael Jordan brand itself. At the same time, the athlete decided to defend his brand and his name.
Now, according to Forbes, Jordan-branded products are about $ 1 billion a year.
At the trial, a 52-year-old athlete should be asked questions about the value of his advertising contracts. Thus, the court hopes to find out the total value of the athlete’s brand, which means that it will be able to find out the amount of damage caused to Jordan by the distribution network.