The Michael Jordan-Nike origin story tips off today in theaters with the Ben Affleck-directed film Air. It depicts how Nike signed Jordan 39 years ago, which spurred soaring fortunes for the company, the NBA and Jordan.
While Jordan and Nike continue their iconic pairing that generated $5.1 billion in revenue last year for the Swoosh, Hanes—another long-time MJ endorsement partner—quietly ended its sponsorship with no announcement or fanfare in 2021, according to Jump Management, Jordan’s family office. The pairing was not brief, as it dated to 1989, before Jordan racked up any of his six NBA titles.
HanesBrands did not respond to requests for comment ahead of publication.
Hanes and Jordan teamed up when the apparel brand was part of Chicago-based Sara Lee Corp., and MJ was starring for the Bulls. Hanes and Jordan were also both products of North Carolina, with the brand founded in Winston-Salem at the turn of the 20th century. Hanes paired Jordan with numerous celebrities in ad campaigns, including Jackie Chan, Cuba Gooding Jr., Matthew Perry and Charlie Sheen.
Jordan, 60, and Hanes celebrated 30 years together in 2019 with a special trading card promotion to mark the anniversary. “Through the years, we’ve certainly benefitted from Michael’s enduring popularity with such a wide audience,” Sidney Falken, HanesBrands chief branding officer, said in a news release at the time. “MJ continues to be one of the most recognizable people in the world, and we’re thrilled he’s working with us to make the world a more comfortable place.”
Jordan’s endorsements with Nike, Gatorade, Upper Deck and Hanes all stretched more than 30 years, and the other three remain active. They rank among the longest continuous relationships between athletes and individual brands, although they still trail the presumed record: Gene Sarazen’s 75 years with Wilson golf equipment.
Jordan has been a marketing juggernaut since he turned pro in 1984. He’s earned an estimated $2.4 billion, with only $94 million of that tally from his NBA salaries over 15 seasons. Nike is responsible for roughly 75% of those career earnings. The tally is $3.3 billion adjusted for inflation.
The five-time NBA MVP still resonates with audiences two decades after he hung up his high-tops for good. Jordan’s Q Score of 26 is tied for No. 1 among all athletes, and only Tiger Woods has a higher awareness level in the U.S. than Jordan’s 77%.
HanesBrands was spun off from Sara Lee in 2006 and generated $6.23 billion in revenue last year as an independent company. Sales were down 8% in the first year with Jordan outside the fold, as the company struggled with global demand in the current inflationary environment. In February, the stock plummeted 28% when the company announced fourth-quarter earnings and eliminated the quarterly cash dividend.
“We shifted our capital allocation strategy, eliminating the dividend as we commit to reducing debt,” Steve Bratspies, HanesBrands CEO, said when announcing the company’s financial results.