(WSCR) Michael Jordan made Nike founder Phil Knight a very rich man over the years, and now Jordan will present him at the 2012 Naismith Hall of Fame ceremony.

Newly-admitted members of the Hall of Fame must be presented by a current member. Jordan was inducted in 2009.

Knight, 74 and the co-found and Chairman of the Board at Nike, is being inducted to the Hall of Fame as a “contributor” due to his relationship with numerous NBA players — including Jordan, Charles Barkley, LeBron James and others.

Knight and Jordan have worked together since Jordan entered the NBA in 1984. Together, they created the “Air Jordan” and “Jumpman” brands.

Watch & Listen LIVE