Michael Jordan demands pre-nup to protect $650 million wealth
Michael Jordan and Yvette Prieto on March 30, 2012 in Las Vegas, Nevada.
Once bitten, twice shy.
After his ex-wife Juanita Vanoy reportedly received one of the largest celebrity divorce settlements in history, basketball legend Michael Jordan is determined to protect his $650million fortune.
The sportsman turned businessman recently had his fiancée Yvette Prieto sign a prenuptial agreement, according to the National Inquirer.
Under the terms, it is claimed the model will receive $1 million for each year married if they divorce, but the amount will increase to $5 million a year after a decade of marriage.
US Magazine reported the couple applied to the court for a marriage certificate last month and will tie the knot in April.
Both parties are said to be happy with the pre-nup arrangement and believe it won't ever be needed anyway.
In 2007, Jordan's ex-wife Vanoy received $168 million in the divorce settlement despite there being a pre-nup agreement in place, Ace Showbiz reported.
According to Forbes, Jordan, 50, earned an estimated $80 million last year from corporate partners including Nike, Gatorade and Hanes. His other assets include six restaurants, sporting teams and a car dealership.