Converse

Acquired · Jul 24

Nike

Was stuck in canvas and paid Magic Johnson and Larry Bird about $100,000 a year. It had too many stars to match Nike's royalty deal for Jordan. Nike bought it for $309M in 2003.

Tips

• Nike gave Michael Jordan a royalty and a signature shoe because rivals could not copy it▶ 2:17:59Air Jordan sold $126 million in year one against an internal goal of $3 million over three years, so Jordan's first-year royalty roughly equalled his whole seven-year Bulls contract.