Michael Jordan demands pre-nup to protect $650 million wealth

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.