Michael Jordan has been pretty good to his high school alma mater, Laney, in Wilmington, N.C., over the years. In 1996, for instance, the NBA legend donated $3,000 to buy T-shirts for 400 Laney students who made the honor roll for three quarters. He was also known to donate shoes to the Buccaneers basketball team.
His Airness figures to give much more back, indirectly, in the coming years thanks to a new contract between the New Hanover County Board of Education and Nike. The Wilmington Star-News reports that the agreement, signed Tuesday, grants Nike the right to use the Laney school name and logo on its products. In exchange, the board of education will receive 5 percent of the profit from sales of Laney merchandise.
New Hanover County Schools spokeswoman Valita Quattlebaum told the Star-News that the school system plans to give the proceeds to Laney.
This isn't the first time that Nike has produced Laney merchandise. Laney athletic director Fred Lynch told the Star-News the school brought in more than $80,000 over two years after a 2004 contract awarded Laney 7 percent of profits on any Laney Nike gear.
That's a lot of honor roll T-shirts.