Michael Jordan uses multimillion settlement to gift Chicago hospitals

- Print  | 

Former Chicago Bulls star Michael Jordan kept his word to donate the net proceeds of an $8.9 million settlement against supermarkets Dominick's and Jewel-Osco to 23 Chicago nonprofits helping children, according to the Chicago Tribune.

Mr. Jordan sued the chains for the unauthorized use of his name in an advertisement, and he vowed to donate the money to benefit inner-city kids. He settled the case against Dominick's last month, along with a pending case against Jewel-Osco for the same reason at an undisclosed amount, according to the report. Jewel and Dominick's have the same owner, Cerberus Capital.

After paying the attorneys on his six-year-long case against the two supermarkets, there were still millions left to be donated, according to the report. Beneficiaries of Mr. Jordan's donations include several healthcare organizations, such as Rehabilitation Institute of Chicago, Sinai Health System and La Rabida Children's Hospital.

He also donated to Juvenile Diabetes Research Fund — Illinois, After School Matters, Casa Central, the Greater Chicago Food Depository, Chicago Scholars, Chicago Youth Programs, Children's Literacy Initiative, Christopher House, Common Threads, Erikson Institute, Gary Comer Youth Center, KEEN Chicago, La Casa Norte, Make-A-Wish Illinois, New Moms, New Teacher Center, The Ounce of Prevention Fund, Project Exploration, SOS Children's Villages Illinois and Tutoring Chicago.

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

His spokeswomen declined to state the size of the donation, citing the confidential terms of the settlement with Dominick's and Jewel.

More articles on finance:
Louisiana hospital to close this month, aims to reopen in 2016
Texas Children's operating income surges 54% as investment losses take toll on bottom line
Fitch affirms University Health System's 'AAA' rating

© Copyright ASC COMMUNICATIONS 2019. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.

To receive the latest hospital and health system business and legal news and analysis from Becker's Hospital Review, sign-up for the free Becker's Hospital Review E-weekly by clicking here.