How Much is Michael Jordan Worth?
Carolina Panthers Offensive Guard Michael Jordan has an estimated net worth of $1.5 Million. Michael Jordan made this fortune basically from his NFL career. Michael Jordan’s annual salary currently stands at $850,000.
The National Football League, as we all know, is one of the biggest sporting franchises in the world today, comprising 32 clubs evenly divided between the National Football Conference and the American Football Conference.
Many individuals (both citizens and non-citizens) of America and Canada have an incredible passion for the NFL. Getting drafted becomes their only headache once players are very good at it.
Monetary-wise, the NFL is an escape place for many young people struggling to make a square meal. Although the game is highly physical and dangerous, players drool over their unforeseen wealth once they get on the weekly payrolls on most NFL teams.
Many people describe this scenario as a ‘lifetime financial getaway.’
Let’s delve deep into the business side of the NFL, from outrageous salaries to mind-blowing and ridiculous net worths.
How do NFL players make money?
There are 18 weeks of rigorous sporting activities and cash-slashing galore in the NFL every season. The majority of the players are paid every week.
As per the association’s financial regulations, all NFL players are under contract. This makes it easier for team owners to measure their spending and regulate and cut taxes.
Game checks are placed in players’ accounts at any time of the week though Mondays are ideal for most teams.
Most NFL stars make money aside from their lucrative contracts all the time. Some cash out immensely when their services are needed by huge sports brands like Nike, Gatorade, Puma, etc., for endorsements. Other business avenues or ventures help earn these players money, whether active or retired.
How is the Net Worth of NFL players calculated?
Since NFL stars have colossal wealth, their net worth is often determined when their overall liabilities are taken from their overall assets at a given time.
To further elaborate on this, NFL players’ liabilities may include Loans, Lawsuits filed against them, Costly Legal issues, and other public expenses.
Now when these liabilities are taken from their existing wealth, which includes; Endorsements, Contracts, Brand Tie-Ups, Stocks, Bonds, Total Deposits in the banks, and Investments. The remaining acquisitions are termed as net salary or net worth.
What do NFL players spend their money on?
Money, they say, controls you sometimes. Extravagant spending is just a call away with the influx of money weekly to these athletic players. Most of these players use their money on cars, clothes, and jewelry 90 percent of the time.
Others who crave the latest tech go in for phones, laptops, TV sets annually, making it a constant trend in their lives.
Investments are a big deal in the life of an NFL player. Since monies invested doubles or triples over time, stars primarily have their financial advisors putting in the work. This helps especially retired players to work less after their careers.
With all this being said, others use their monies to fund NGOs to help support deprived kids to greatness, which is considered the best use of funds by many critics.
