Following yesterday's revelation that Michael Jordan is worth at least $480 million to Nike, we're learning that that may only be the tip of the iceberg, according to Bloomberg.
Apparently, the defense isn't satisfied with the numbers it's seen so far, and demanded that Jordan's 42-page contract with Nike be unsealed. Nike global counsel Gary Way, one of just three employees with access to the agreement, called it "one of the most competitively valuable documents in the industry."
The document breaks down private details such as the way Nike and Jordan Brand split up their revenue and expenses, Michael Jordan's role in choosing athletes for endorsements, and the amounts made by Jordan Brand athletes including Blake Griffin, Carmelo Anthony, and Derek Jeter. In other words, this is highly classified information, and for good reason.
Not only could the contents of the paperwork give Nike and Jordan Brand's competition an inside scoop on its trade secrets, but it could potentially damage the brand's relationships with its currently sponsored athletes.
Unfortunately for Nike and Jordan, the judge wasn't feeling very sympathetic. "This is the United States of America. We have public trials here. That’s how that rolls," the judge said.
It sounds like things could get very interesting in the coming days. Check back tomorrow for the latest.