Michael Jordan signed a 1-year, $30 million contract extension in 1996 for the Chicago Bulls. However, before the extension was eventually signed, the NBA legend was making less than $4 million a year. This led to him questioning the expansive contracts that lesser players around the NBA were on, according to Sam Smith’s book, “The Jordan Rules.” One of these players was Cleveland Cavaliers’ John “Hot Rod” Williams, who was making around $5 million a year at the time. Michael Jordan came across a photo of Williams’ kids wearing pairs of Air Jordans. This led him to make a petty comment involving his children.
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He said that despite his salary, Williams still had to pay him for the Air Jordan shoes his kids were wearing.
Michael Jordan was jealous of Hot Rod Williams’ Cavaliers’ contract
Michael Jordan signed his rookie contract in 1984, a 7-year contract that saw him earn less than a million a year.
The Bulls voided the final 3 years of this deal and offered him a $25 million, 8-year extension that saw his salary jump to around $4 million until 1993. However, considering his talent and what he had already done in the league, Michael Jordan was being paid far less than he deserved.
According to “The Jordan Rules,” Bulls’ chairman Jerry Reinsdorf knew that Jordan wanted to be paid more. He eventually came across a photo of John Williams and his children, who were all wearing Air Jordans:
“Everywhere Jordan went were the signs that he was underpaid even at $3 million per year. Leafing through a preseason basketball publication, Jordan came across a picture of Williams and his children. Williams had on a Nike shirt and the kids were wearing Air Jordan sneakers. ‘He’s making five million dollars,’ Jordan would later note, ‘but he’s got to pay me for the sneakers.'”
Jerry Reindsorf claimed he would regret Michael Jordan’s contract extension
When Michael Jordan returned from his first retirement, he was able to continue on the 8-year contract. The Chicago Bulls had kept player rights but were found having to offer a $30 million extension the following year.
However, Reinsdorf was apparently not happy with the decision. According to Roland Lazenby’s Michael Jordan: The Life, Jerry told his star player that he would go on to regret the offer.
Of course, Jordan went on to lead the Bulls to successive championships to complete their second 3-peat in 8 years. Needless to say, Jordan did more than enough to repay the Chicago Bulls.
