What are Michael Jordan's prenup contract details with Yvette Preito? Finding out if Jordan is liable for another $168 million blunder

Michael Jordan married his second wife, Yvette Prieto, in April 2013. The couple are still married ten years later. However, it would appear that Jordan learned from the mistakes of his first marriage, as the former NBA superstar ensured that he had a prenuptial agreement in place the second time around.

Jordan's prenup is designed to be fair but also to protect his vast wealth and assets. The terms of the agreement are as follows: should a divorce occur within the first ten years (which it hasn't), Preito would receive $1 million for each year they had been married. Should the divorce occur after ten years or more, Preito would receive $5 million each year the couple was married.

Jordan and Preito have recently celebrated their 10-year anniversary, meaning if the couple were to divorce now, Preito would be due $50 million in a settlement. For each year they remain married, the settlement will now rise by a further $5 million.

However, Jordan will retain ownership of his properties and business interests, which is a significant portfolio that he was smart to protect. Nevertheless, Jordan and Preito appear to be going strong and will be hoping the terms of their prenup are never forced to come into effect.

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Michael Jordan previously lost $168 million due to divorce

When Michale Jordan and Juanita Vanoy (his first wife) split, Jordan was forced to pay a hefty divorce settlement. Vanoy was awarded $168 million, along with custody of Jordan's three children and their marital home in Chicago.

The divorce was finalized in 2002 and was the costliest divorce settlement for an athlete up until Tiger Woods paid $710 million in a divorce settlement in 2010. Jordan and Vanoy cited irreconcilable differences in their divorce proceedings following their attempted reconciliation, which ended in 2006.

"Michael and Juanita Jordan mutually and amicably decided to end their 17-year marriage," the couple said in a statement through MJ's lawyer Frederick J. Sperling. "A judgment for dissolution of their marriage was entered today. There will be no further statements."

It's also worth noting that the house Vanoy won in the divorce agreement was worth a reported $29 million but has since fallen in value and is now worth approximately $16 million.

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Michael Jordan recently became a billionaire

Earlier this year, Micahel Jordan sold the majority of his controlling share in the Charlotte Hornets franchise, earning himself $3 billion. With a new influx of vast wealth, Jordan will be glad to have a prenup in place with Prieto.

Such a significant influx of cash would certainly have created a potential record divorce settlement had an agreement not been in place. Jordan's other business interests, such as his lifetime partnership with Nike for the Jordan Brand, have also continued to grow in financial strength.

Jordan has learned from his previous divorce but has remained fair in his prenuptial agreement. Still, it's unlikely he or Preito will be planning to call time on their marriage in the near future.