Basketball legend Michael Jordan’s name is worth at least $480m to Nike, the athlete’s lawyer has claimed.
The value of the basketball star’s moniker is core to his case against the now-defunct Dominick’s Finer Foods over a 2009 ad that had not paid to for his naming rights.
Each commercial use of Jordan’s name is worth more than $10m, his lawyer Frederick Sperling told jurors earlier this week. He claimed that the basketball legend accrued $100m off his name in 2014 and added it had earned him $480m from Nike between 2000 and 2012,
The price tag on Jordan’s name is key for jurors in deciding how much the restaurant should pay the star in damages for the ad. It congratulated Jordan by his full name after he was inducted into the Hall of Fame, as well as offered a $2 voucher for steak with the phrase “Michael Jordan..You are a cut above”.
Despite the unequivocal value of Jordan’s name, the restaurant claimed only two people redeemed the coupon at its locations.