Michael Jordan Donates Multimillion Settlement to Chicago Charities

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Summary: Michael Jordan has donated a multimillion dollar settlement to 23 Chicago nonprofit organizations.

Michael Jordan has delivered on his promise to donate his multimillion settlement to charities in Chicago. Six years ago Cerberus Capital, parent company to Dominick’s and Jewel-Osco, used his name without permission in a 2009 issue of Sports Illustrated, commemorating Jordan’s entrance to the basketball Hall of Fame. Even after paying off the lawyers for their work, Jordan had enough left over to donate millions to 23 Chicago nonprofit organizations.

  

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He had in said in August that it was “never about the money,” but he and his lawyers explained in court that his advisers use his identity carefully to maximize profits, and monitor carefully how his name is used. This tactic seems to have worked, considering Jordan is still the highest paid basketball player in NBA history.

“I care deeply about the city of Chicago and have such incredible memories from my years there,” Jordan’s news release stated. “The 23 charities I’ve chosen to make donations to all support the health, education and well-being of the kids of Chicago. Chicago has given me so much and I want to give back to its kids — the city’s future.”

Because the settlement Jordan reached last month was mandated to be undisclosed, the charities have not announced how much he has given them. Nevertheless, Jordan’s staff enjoyed a “fun week” calling charities, such as Chicago Scholars, Chicago Youth Programs, Children’s Literacy Initiative, Christopher House, Common Threads, Erikson Institute, Gary Comer Youth Center, Juvenile Diabetes Research Fund — Illinois, KEEN Chicago, La Casa Norte, La Rabida Children’s Hospital, Make-A-Wish Illinois, New Moms, New Teacher Center, The Ounce of Prevention Fund, Project Exploration, Rehabilitation Institute of Chicago, Sinai Health System, SOS Children’s Villages Illinois and Tutoring Chicago.

Guarding one’s name as a copyrighted item is important for celebrities who have spent their career building an image for themselves. In this regard, it was never “about the money,” but about the money maker. It also appears it was about helping Chicago.

Source: Chicago Tribune