Michael Jordan was a pretty good basketball player and might be an even smarter businessman. In 2014, Jordan became the first athlete to reach $1 billion in net worth.
"Jordan is in a league of his own," Darren Heitner, founder of the Sports Agent Blog, told Benzinga at the time. "He had the requisite patience and foresight to structure deals that certainly paid well at and around the time there were executed, but also contained provisions that ensured him money for years after retirement."
On Wednesday, Morgan Stanley downgraded Nike Inc NKE, citing a weakening athletic apparel market and increased competition. Analyst Jay Sole believes Nike's U.S. business, which accounts for 45 percent of its total business, is facing headwinds. The U.S. sales growth estimate has therefore been lowered from 7 percent to 6 percent.
For a little perspective on Nike's Jordan brand business, take a look at this chart:
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