Back in the late 1980s and 1990s, Charles Barkley became a household name in sports by becoming an NBA superstar and one of the more unique players the game had ever seen.
Even some 20 years after his retirement, he has remained very relevant as an analyst for Turner Sports’ coverage of the league while occasionally giving his opinions on topics such as politics.
Some former athletes, including even some stars, have lost a lot of their earnings by making poor financial decisions. But Barkley says Michael Jordan gave him a nugget that allowed him to greatly maximize his earnings.
Charles Barkley explains how he made $30M instead of $3M by following Michael Jordan’s advice. 🤯pic.twitter.com/oMPPVJxsme
— My Mixtapez (@mymixtapez) November 2, 2024
“We both go to Nike,” Barkley said of himself and Jordan. “They signed Michael. And they signed me. And Michael gave me some great advice one time. He says, ‘Hey man, why you need all that money?’ I said, ‘Dude what you talking about?’ He says, ‘I was looking at your contract. You’re making about $3 million. Tell Nike you want a million and you want the rest in stock options.’ And I said, ‘OK.’ I run it by my guys. He says, ‘That’s a good idea if they’re gonna be great.’ I said, ‘This dude is the greatest basketball player I’ve ever seen. Let’s do it.’
“I actually made probably 10 times the amount of money, and I’m still with Nike to this day.”
Barkley was a force during his playing days. He was the No. 5 overall pick in the 1984 draft — taken two spots after Jordan (the No. 3 overall pick) — and he averaged 22.1 points and 11.7 rebounds a game over his 16 seasons.
He won the league MVP award for the 1992-93 season with averages of 25.6 points and 12.2 boards a game, and in his prime he was one of the top players in the NBA.
Barkley’s Phoenix Suns met Jordan’s Chicago Bulls in the 1993 NBA Finals, with Jordan and his crew winning the championship in six games, which was their third of six titles in the decade. It was the only trip Barkley ever made to the championship series.
Although Barkley may have made a very wise decision by asking for some of his Nike salary to be given in the form of stock options, he hasn’t been immune to impulsive and even poor financial decisions.
He has been a bit reckless with his gambling habits over the years, and he once admitted to ESPN that he had lost $10 million as a result, including $2.5 million in a six-hour period one night.
With the NBA set to begin a new media deal next season, roundball fans may not be able to watch Barkley give his wacky takes on the league and other topics for that much longer, as the league is ending its deal with TNT.
