Coming into the NBA, many fans were already familiar with Michael Jordan’s talents. The third overall pick in the 1984 NBA Draft brought great optimism for the future of the Bulls franchise. As a result, the two parties agreed upon a seven-year deal worth $6 million. The contract left George Andrews, the agent of Isiah Thomas and Magic Johnson, confused.
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Jordan became a household name before stepping foot on an NBA court. During his three seasons at the University of North Carolina, he developed into quite the star. In his freshman season, he stamped himself among the Tarheel greats.
In the 1982 National Championship game against Georgetown, Jordan knocked down the game-winning shot to win the title. He went on to represent Team USA in the 1984 Summer Olympics, leading the team in scoring with 17.1 points and securing the gold medal.
It was a foregone conclusion that Jordan would be a star. This led to his family and the Bulls negotiating a historic contract. The announcement of the seven-year deal didn’t land well with other agents across the league. Roland Lazenby shed light on the reactions in his 2015 biography, Michael Jordan: The Life.
“‘It doesn’t make sense,’ George Andrews, the agent for Magic Johnson and Isiah Thomas, told the Southtown Economist,” Lazenby said. “Agent Lee Fentress said such a deal would seemingly guarantee trouble down the road as the value of player contracts had already begun to increase dramatically.”
At the time, Jordan’s deal became the largest offered to a guard. It wasn’t the amount of money which left these agents confused; it was the amount of years on the deal.
The NBA had been experiencing a boom in popularity and business. There seemed to be a trend in player contracts increasing due to the salary cap inflections. George Andrews advised his clients to sign short-term deals so they could negotiate larger contracts afterward.
The difference in Jordan’s situation is that his agent didn’t decide for him, nor did he want to. David Falk spoke on the matter saying, “I don’t want to play God.” Of course, he provided his input, but he let Michael and his family have the final say. “Michael and his mom and dad made the decision themselves,” Falk said.
In 1988, Jordan received the payday he deserved when he agreed to an eight-year $25.7 million contract with Chicago. His finances only kept increasing from that point. He is now a billionaire and most likely doesn’t regret his decision one bit.
