![]() ![]() The formula of seven figures a year over 10 years became a template for many future Jordan deals. “To their credit, Falk said a deal was a deal,” he recalled. “I don’t understand why they wouldn’t pay Michael the same.”Īfter losing the sealed-bid auction, Coke came back with more moneyĪnd a 10-year offer, according to former Quaker Oats President Phil Marineau. “They had Elton John and Whitney Houston making millions,” he said. Coke’s five-year offer did not, according to Falk. Gatorade owner Quaker Oats made an offer that fit those parameters. Falk said he told both sides he wanted a 10-year deal at seven figures per year. When it came time to bid, Jordan and Falk decided to go with a sealed-bid process. Gatorade and Schmidt (above, far left) signed Jordan in 1991 and quickly filmed the iconic “Be Like Mike” campaign (below). ![]() “The creative wasn’t very imaginative, and Michael was one of 30 or so Coke endorsers,” said David Falk, then Jordan’s agent. ![]() Gatorade offered Jordan an average of $1.4 million a year over a decade to be Gatorade’s first and only endorser. Everyone agrees on the motivating force: MJ was one of dozens of stars in Coke’s constellation of endorsers. There are dozens of stories about how Gatorade snatched Jordan from Coca-Cola. Michael Jordan’s 23-year relationship with Gatorade has been around so long and supported by such artful advertising that most people forget what was at the heart of the deal: Gatorade stole Jordan from Coke. ![]()
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