I guess having the G.O.A.T. as one of your alumni has its perks…

Michael Jordan’s alma mater Laney High School, in Wilmington N.C., has made an agreement with Nike allowing them to use their logo in exchange for 5% of the profits of any product bearing it.

This is not the first time the school has profited from something like this. In 2004 Nike signed a contract to produce retro Laney athletic apparel including jerseys, t-shirts, shooting jackets and head-gear. During that contract, which ended in 2010, the school brought in more than $80,000 in two years.

No word yet on how Nike plans to use the logo, although there has been speculation that Nike plans to release a new line of Air Jordan’s during the holidays.