Throughout his career and well into retirement, Hall of Famer Michael Jordan has maximized his profit line from his brand over the years. That has seen him become the first player to reach $1 billion while he continues to see that number grow as time continues to pass. That also seen Jordan foreseeably have to deal with number legal issues because of the large of money tied to his name. That was certainly the case over a decade ago as a man claiming to look like Jordan and believed that put him in the spot to cash in on the situation.
Michael Jordan’s financial gains
Following his illustrious career, he garnered just under $100 million over his 15 years in the league. Jordan has lifted off in his retirement with his brand over the years that has helped him go into different ventures that include buying the Charlotte Hornets.
He has become the business model that many of his peers and the players after him in not only the NBA but also other sports hope to follow. Jordan took full advantage of his brand and expanded on it, which has helped him become the first player to be worth more than $1 million. He has pushed that figure up past $2.1 million.
Jordan has caught flak at times for his decision-making with the Hornets over the years, but that hasn’t taken away from the wise moves he has made over years to help further maximize his brand. He had bought a majority stake in the franchise back in 2010 for a grossed-up value of $175 million, which, when agreed to sell a minority stake in the team last September, the team was worth $1.5 billion.
That said, the time since his retirement has had the moments where he has dealt with legal issues.
Michael Jordan, Nike sued for millions
Over the years, Jordan has dealt with meager financial legal issues that have sprouted up due to his name or brand being used without his knowledge or agreement.
However, that looks to have shifted in another direction back in July 2006 as a man named Allen Heckard, of Portland Oregon decided to sue the Hall of Famer on the basis that he was tired of people believing he looked like the former Bulls great.
Beyond the outrageous part of it being a lawsuit because he looks too much like Jordan, the dollar figure amount is equally as ridiculous. When asked about that, Heckard had just as mindboggling answer, acccording to Lloyd Vries of CBS News.
“Well, you figure with my age and you multiply that by seven and, ah, then I turn around and, ah, I figure that’s what it all boils down to.”
The reasoning for the crazy financial amount that he came to for the lawsuit also made this even more puzzling situation. It’s a situation that made no logical sense for it to move forward in any manner.
What happened to the lawsuit?
The ridiculousness of the lawsuit didn’t stop Heckard from proceeding with it as he paid the $206 filing fee and didn’t have a lawyer.
With that in mind, Heckard diminished the case a few weeks later without any solid reasoning behind why he went that route. It turned out to be as puzzling a beginning to an ending to it all.
The whole situation was a trivial matter that someone believed that they could file a lawsuit on those grounds. If that were the case, there would be many celebrity lookalikes all going the same route to gather some sort of financial profit from the situation.
Ultimately, what this shows is that some people are willing to go to any extent to get money.