THROW THURADAY: Do You Remember, Larry Johnson's Famous Converse Shoe Commercials?
Nike Incorporated and Converse are now one parent company; Nike owns converse products and/or sports apparel manufacturers.
In the financial year of 2023, Nike ( and Converse) generated a global revenue of approximately 51.2 billion U.S. dollars
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Now You Know: Larry Johnson made a $1 million from Converse, Michael Jordan changed his deal with Nike which led him to become a billionaire.
Larry Johnson's $1 million shoe deal with Converse topped Michael Jordan's Nike contract in 1991; but Michael Jordan contract was modified-this modification enable Michael Jordan to become a billionaire in which, he continues to receive royalty payments.
Lessons Learned: Not All Contracts Are Equal
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