You Won't Believe How Michael Jordan Spent $8 Million Settlement Money

News & Views | Gerren Keith Gaynor | 12/17/2015 | 11:15 AM EST

NBA legend gives back in a major way

After being awarded nearly $9 million in a naming rights lawsuit settlementMichael Jordan has announced that he will be donating the funds to 23 Chicago charities.


The former Chicago Bulls superstar will be giving proceeds to groups like the Juvenile Diabetes Research Fund, The Ounce of Prevention Fund and After School Matters, an arts and education program, reports the Associated Press.

The mogul did not disclose the size of the donations however, due to terms of the settlements not yet being released.

Jordan sued Jewel-Osco and Dominick’s Finer Foods grocery chains for using his name in marketing materials without being granted the rights to do so. He was awarded a total of $8.9 million.


"I care deeply about the city of Chicago and have such incredible memories from my years there," Jordan said in a news release. "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." 

(Photo: Streeter Lecka/Getty Images)

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