Eye-popping amounts paid in celebrity divorce settlements are not new to the public. Some famed names even had to part with half of their assets as well. Most recently, people saw NBA legend Scottie Pippen pay 50 percent of his fortunes to ex-wife Larsa Pippen following their divorce. NBA icon Michael Jordan faced a similar situation. However, things have changed now. The 6x NBA champion seems to have opted for the right legal solution before his marriage to his wife, Yvette Prieto.
While the netizens and the public always have an opinion, the right solution seems to be another legal contract that can benefit both parties. MJ and his wife enjoy a much more beneficial relationship thanks to a pre-marriage promise.
Michael Jordan’s wife Yvette Prieto signed a prenuptial contract before marriage
It seems the athlete has learned a lesson from his previous marriage. Before getting married to 16 years younger wife Yvette Prieto, Jordan asked her to sign the prenuptial contract. The contract is beneficial for both parties. While Prieto will enjoy better financial security, Jordan will also benefit from the condition, if ever the couple were to get a divorce.
According to their prenup, Prieto will receive $1 million for each year they remain married. But if they stay married for over ten years, then she will get a sum of $5 million per year of marriage. While many have raised questions on the contract, Jordan had simply stated the agreement as a solution that will satisfy both parties.
Chicago Bulls’ legend recently sold his majority stake in the Charlotte Hornets for a deal worth $3 billion. This deal became a stepping stone in making him the richest NBA player with an estimated net worth of $3.5 billion. However, back in 2006, Jordan had to pay quite a hefty amount for the divorce settlements.
Michael Jordan’s expensive divorce from ex-wife Juanita Vanoy
Jordan and Juanita Vanoy ended their marriage in 2006. For the divorce settlements, Jordan paid a whopping $168 million to Vanoy, making it one of the most expensive divorces in the sports world.
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Furthermore, Vanoy was also given the custody of their three children along with their marital home.
Did you know about the benefits of a prenuptial agreement? Do you think Jordan is right about the contract? Let us know your thoughts in the comments below.
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