Coming into the 1984 NBA draft, Michael Jordan was arguably the most sought-after player out of all the prospects. Despite that, he fell to third, much to the delight of the Chicago Bulls. At the time, the team was one of the worst in the league. Worse yet, given the drug abuse within the team, they were often referred to as the ‘traveling cocaine circus’. As you might expect, not many would be interested in watching such a team. And so, attendance numbers were beyond low. However, as soon as Jordan came in, things changed. Both, the attendance number, and the valuation of the franchise.
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Michael Jordan was very skilled from the get-go. He ran away with the Rookie of the Year award, averaging 28.2 points, 6.5 rebounds, 5.9 assists, 2.4 steals, and 0.8 blocks per game. And with these numbers, he even led the Bulls to the postseason.
How Michael Jordan increased the value of the Chicago Bulls
Michael Jordan’s influence on the Chicago Bulls never gave off the impression of being a small one. However, once the numbers are looked at, things really start to get put into perspective.
Sam Smith’s famous book, ‘The Jordan Rules’ makes that very clear. Here is an excerpt from it that talks about the Bulls legend’s presence, and how it was a godsend for the Chicago Bulls.
“The year before Jordan came, the Bulls’ average attendance was 6,365. That grew to 11,887 in Jordan’s first season, and to 17,794 by 1988. At the Bulls’ average 1990 ticket price of about $25, it’s easy to estimate Jordan’s value to the Bulls at $5 million per year. And that’s just in admissions”
Not only did ‘His Airness’ increase the team’s attendance by a dramatic margin in his very first season, but he also kept that trend up for his entire career with the franchise. And in the end, it resulted in the franchise’s value growing by $5,000,000 every single year he was there, after only accounting for ticket prices.
Better yet for the NBA, Jordan was forced to play in cities across the United States. And people from all over the country took that opportunity, buying tickets just to see him play.
Michael Jordan made both the Bulls and the NBA a lot of money. It’s no wonder late NBA commissioner, David Stern wanted him to be the face of the league.
Nike was all-in on Jordan from the get-go
Prior to Michael Jordan’s arrival in the NBA, many were skeptical about a guard being a high pick in the NBA draft. Times were different back then, as centers were preferred as franchise cornerstones.
Further, his play style as a ‘ball hog’ of sorts wasn’t helping either. So, while he was sought after, Jordan also encouraged doubts and nervous murmurs among fans.
However, despite all of that, and despite being the much smaller brand that they were at the time, Nike staked absolutely everything on the now Bulls legend. His mother, Deloris, was the one who convinced Nike into signing her son to an unprecedented deal and you can read about it here.
