Michael Jordan is preparing to pay his wife of 17 years, Juanita Jordan, a settlement worth more than $168 million. This includes their estate in Chicago, and she'll also have custody of their three children. Damn, it's good to be married to the king.

Negotiations have been in place since a filing last December, where it's reported that MJ rejected the initial offer — $40 million less than the final deal. I bet her lawyers get a nice bonus.

Sources close to Michael say he's ready to move on in his life and is willing to pay out for that to happen. She did have a prenup that entitled her to half his fortune, but she is taking only a third. How very charitable!

This divorce settlement eclipses the previous record set by Neil Diamond and his ex, Marcia Murphey, worth $140 million, and also casts serious doubts on claims that Paul McCartney and Heather Mills' split might break the old record. Hey, maybe Heather can get Juanita's lawyers to help her out!