Li said Jordan had demanded that Qiaodan stop using the name and trademark, which may have affected the company's business.

Qiaodan Sports has been using the brand since 2000, and has invested in brand-building over the years, Li said.

"It is unknown whether the company could have continued its listing process, until Michael Jordan's suit."

Qiaodan had planned to list in Shanghai by the end of March 2012, and the China Security Regulatory Commission had already approved its initial public offering. But it is still awaiting final approval from the CSRC.

"Michael Jordan's lawsuit in February 2012 stopped the company from being listed," Qiaodan Sports said.

Jordan accused Qiaodan Sports of building its business around his name in Chinese and jersey number, without his permission. He asked the company to stop and requested tens of millions of yuan in compensation.

Shanghai No 2 Intermediate People's Court accepted the case in 2012, but is yet to reach a decision.

"Such cases usually need one year to get decided, but this one may need longer time, as it involves foreigners," Fu said.

The Jordan legal team's spokesperson insisted the former NBA star was "not trying to slow the process".

Qiaodan has denied Jordan's claims and said the company had simply used a Chinese translation of what it considers a common foreign family name.