A dispute concerning MICHAEL JORDAN's Chicago
restaurant ventures was examined by CNBC's Scott Cohn. In
'93, Jordan and partners JOSEPH and GENE SILVERBERG opened
Michael Jordan's Restaurant, which reportedly grossed $15M
last year from food and merchandise sales. But now, Jordan
and the Silverbergs "have apparently had a falling out."
Jordan "can't walk away from the original deal even if he
wants to; it's for life." So Jordan is investing in a new
restaurant near the United Center with partner DAVID
ZADIKOFF, the CEO of Jordan's original eatery. The
Silverbergs sued Zadikoff, "claiming the new restaurant
violates their deal with Jordan." But a federal judge has
ruled Jordan "can own another restaurant in Chicago, as long
as it doesn't carry his name." Furthermore, Jordan "won the
right" to keep the Silverbergs from opening Jordan
restaurants. Cohn: "That leaves the Silverbergs with the
rights to Michael Jordan's name on one restaurant in
Chicago, but nowhere does it say that Michael Jordan has to
show up here. And a Michael Jordan's restaurant without
Michael Jordan, say experts, isn't much." Burns Sports
Celebrity Service's Bob Williams: "If Michael Jordan is
hanging out at a particular restaurant, you're gonna see a
lot of celebrities, let alone fans, flock to that
restaurant." Jordan's new restaurant opens next week under
the name 160 Blue. None of the attorneys involved would
comment ("The Edge," CNBC, 3/10).
