on the phone are numbered.
Jordan, the president of basketball operations for
the Washington Wizards, is ending his days as a
corporate pitchman. Jordan, for years the sports
world's top endorser with an estimated annual take
of $40 million, will honor all of his existing contracts,
including some that last until 2006. But he has
stopped taking on any new deals, and already is
reducing the number of TV commercials he shoots
for his existing deals.
Jordan intends to free up additional time not only
for the Wizards, but other business ventures. He
hopes to move beyond endorsements and into an
executive and equity holder role. He already is a
partner and board member at MVP.com, an on-line
sporting goods company, and recently, in an
eight-figure deal, joined the board of directors of
Illinois technology firm Divine Interventures Inc.
"It's a stage you get past," Jordan said in
yesterday's editions of the Chicago Sun-Times.
"Now I don't want my name just used. I can get
endorsements all day. Endorsements are good for a
while —they give you a personality, a lot of
credibility. And now I have that name. But I want to
understand the business itself, see the value in
something other than just endorsing."
Jordan's extensive roster of clients include MCI
WorldCom Inc., Nike, Gatorade, Hanes and
Rayovac. His endorsement work has ranged from
serious to ridiculous, and his ability to generate sales
helped pave the way for other successful black
sports endorsers, including Tiger Woods, Grant Hill,
and Shaquille O'Neal.
"He has been a trailblazer the whole way through
this," said Bob Williams, a Chicago marketing
executive who pairs athletes with companies seeking
endorsements. "He was the first black athlete to
achieve worldwide success as an endorser and really
make Madison Avenue colorblind. He was the first
to get his own brand and now he's reinventing himself
again and is being the first to stay at the top of their
game as an endorser, 'I don't need to do this
anymore. I want something more.' "
Jordan has told many of these companies to start
planning ad campaigns without him. Gatorade
already has done that, using Toronto Raptors star
Vince Carter as its lead pitchman, and new ads are
being shot with Derek Jeter, Mia Hamm, Peyton
Manning and others.
"We've known this was coming for some time,"
said Andy Horrow, Gatorade spokesman. "There is
no next Michael Jordan, no single dominant athlete,
so we've moved on, and tried to diversify our
approach."
Industry sources said that other companies, such
as MCI WorldCom, were not aware of Jordan's
intentions before yesterday. But the telephone giant
still is under contract with Jordan for six more years,
and recently began airing two new commercials with
him. Jordan also is one of the company's largest
private shareholders.
Ad industry executives say Jordan's motivation to
end his endorsements stems not only from a desire to
try new business ventures, particularly on the
Internet, but also from respect. Jordan has no equal
in the sports world, but his stature as a business and
basketball executive remains a work in progress.
Both the Wizards and Nike's Brand Jordan, of
which he is chief executive, are struggling. And
Jordan's TV ads this winter endorsing Democratic
presidential candidate Bill Bradley struggled to make
an impact maybe because it shared air space with
Jordan's lighthearted MCI ads with the Looney
Tunes animated characters.
"He is rapidly cultivating a new image for himself,
one as as a owner, an executive, a businessman,"
Williams said.
Jordan, even without the massive yearly income
from the ads, will not be hurting for money. His
estimated worth exceeds $350 million, his leadership
roles with the Wizards, Brand Jordan, MVP.com
and Divine Interventures also will provide additional
millions in income. Jordan also runs driving range and
restaurant businesses and is an investor in the
successful sports Web site SportsLine.com .
Jordan's agent, David Falk, declined to comment.
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