In recent episodes of The Last Dance, Michael Jordan‘s long-time agent David Falk has appeared discussing a variety of topics, including Jordan’s initial shoe deal with Nike. In all his years negotiating for Jordan and numerous other NBA players and their contracts with teams and endorsement deals with companies, Falk has earned a substantial amount of money. What is David Falk’s net worth?
Who is David Falk?
David Falk was a big sports fan at a young age influenced mainly by his mother and her love of the New York Knicks. While he never excelled playing sports, Falk knew he wanted to be involved in the sports industry. After receiving his economics degree from Syracuse University, Falk earned his law degree from George Washington University.
During his final year of law school, Falk set his sights on working at a sports agency. With no one hiring, he landed a job working as an unpaid intern for Donald Dell at ProServ. Dell, who was a former pro tennis player and primarily represented tennis players, allowed Falk to handle a large portion of ProServ’s NBA dealings.
Falk displayed early on he was a capable agent negotiating deals for the No. 1 NBA draft picks in John Lucas and Mark Aguirre. He also negotiated the first million-dollar NBA shoe deal for North Carolina’s James Worthy in 1982. Falk had established a connection with the Tar Heels and shoe companies. It was a pre-cursor of things to come.
Falk meets Michael Jordan
Two years after David Falk negotiated the Worthy deal, Michael Jordan came out early in the 1984 NBA draft and signed with Falk and ProServ. In Jordan’s rookie season, with Falk’s established track record signing top-dollar endorsements for basketball players, he had a few ideas. Jordan had some ideas of his own.
The rookie loved Adidas shoes and wanted a contract with them. Falk pursued it, but it fell flat. Adidas wasn’t prepared to tailor a shoe to Jordan’s needs. Falk and Jordan explored other opportunities, including the most popular brand in the NBA, Converse, but the shoe company wasn’t innovative enough in its ideas for the future, and they passed.
Falk, Jordan, and his parents ultimately met with Nike, and struck up a record deal that would pay Jordan $500,000 per year for five years. The astronomical numbers blew away the James Worthy deal with New Balance, which paid Worthy $150,000 a year for eight years.
What is David Falk’s net worth?
David Falk’s relationship with Jordan and his ability to generate lucrative endorsement deals landed him numerous other clients throughout the years. He has represented more than 100 other NBA players, including Patrick Ewing, Danny Ferry, and Alonzo Mourning.
Falk’s legacy is long, and he is still considered to be the most influential player agent in NBA history. At the height of his career in the 1990s, many said he was the second-most powerful person in the NBA behind Commissioner David Stern.
Falk has amassed a large amount of wealth with all the big contracts and lucrative endorsement deals he has negotiated. According to Celebrity Net Worth, Falk reportedly has a net worth of $50 million.