Michael Jordan, who gets $150 million from Nike, also has an $8 billion sports business that isn’t very popular

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Michael Jordan and billionaire Mark Cuban’s 2015 business is now worth a gigantic $8 billion, increasing their huge net worth.

Jordan had a fantastic career in the NBA, winning six championships with the Chicago Bulls. Jordan was the most marketable athlete in the NBA at the time, with some of the most lucrative endorsement deals. Even after retirement, he had a keen business and investment acumen, making him the first billionaire athlete.

Mark Cuban built his fortune as a tech-savvy entrepreneur. It’s no surprise that he saw a chance with Sportradar. Michael Jordan, on the other hand, has gone to great lengths to diversify his assets.

The Governor of the Hornets has invested in various businesses including other internet brands such as Gigster. He became even more adept at spreading his wealth across multiple sectors.

It’s no surprise that he saw a chance with Sportradar. Michael Jordan, on the other hand, has gone to great lengths to diversify his assets. Given Jordan Brand’s consistent revenue, one would expect Michael Jordan to branch out beyond shoes.

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Michael Jordan and Mark Cuban’s Joint Investment Yielded $8 Billion in Dividends

Michael Jordan, owner of the Charlotte Hornets, and Mark Cuban, owner of the Dallas Mavericks, invested in a young sports startup called Sportradar in 2015. Six years later, this investment could be very profitable.

Sportradar has made a lot of money over the past few years and just went public on Tuesday. Early assessments indicate that Jordan and Cuba could benefit, especially given the importance of Sportradar in sports betting.

Both were part of a $44 million fundraising round that took place in 2015. Sportradar was valued at $2.5 billion in 2020 after five years of investment. Jordan and Cuba had already made huge profits. Nevertheless, the company continued to grow rapidly. Sportradar went public last year with a valuation of $8 billion.

In September last year, the sports betting and data startup debuted on Wall Street. Jordan was present and rang the opening bell for Sportradar.

Sportradar went public with shares priced between $25 and $28. By the end of the market, it had raised approximately $513 million. The company was valued at $8 billion, but has since shrunk to $7.4 billion. Either way, MJ and Cuban would undoubtedly earn a fortune.

According to Sportico, the NBA-Sportradar deal is worth $1 billion. Following the long-term agreement, NBA will also acquire a 3% stake in the company. Sportradar also has an agreement with the NHL, so they now work with two of the strongest leagues in the world.

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