“Michael Jordan, I’m Gonna Live to Regret This”: When Bulls Owner Jerry Reinsdorf ‘Disrespected’ MJ for Just $30 Million

If you say Bulls, the first name that comes to mind is Michael Jordan. Such was his attachment to the franchise that it is impossible not to speak of one without the other. So, it is hard to believe that by 1996, Bulls’ ownership’s relationship with Michael was marred with animosity. It all started after MJ’s contract expired and he was up for a new one. However, Jerry Reinsdorf’s reluctance to give Michael Jordan what he deserved and then a snide comment, led to Jordan being deeply disappointed and angry.

In 1996, Michael led the Bulls to their fourth championship. The same year, his long-time contract with Chicago finally expired. Jordan wanted Reinsdorf to give him what he was owed but he also knew how difficult it would be to part Jerry from his money.

What Michael Jordan did not know, however, was that not only would Jerry be difficult to negotiate with, but how he would also conclude a deal with his loyal star by making a disrespectful comment.

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Michael Jordan was furious at Jerry Reinsdorf

The negotiation deals for Michael’s new contract left a bitter taste in everyone’s mouth. Jerry’s reluctance at first had pushed MJ into considering an offer with the Knicks. But this infuriated Reinsdorf who considered suing both Michael Jordan and the Knicks.

However, after realizing that letting go of MJ would be detrimental to Chicago Bulls’ popularity, Reinsdorf finally agreed to pay MJ $30 million. But as the two concluded the deal, the franchise owner taunted Michael.

In his book Michael Jordan: The Life, Roland Lazenby wrote of this interaction in detail.

Lazenby: “Michael is bitter at Jerry,” a Bulls employee later explained, “because when Jerry agreed to pay him the $30 million, Jerry told Michael that he would regret it. Michael stood in the training room one day the next fall and told all his teammates, ‘You know what really pissed me off? Jerry said, ‘You know what, Michael? I’m gonna live to regret this.'”

Jordan was furious at the Bulls’ owner

Needless to say, Jerry’s statement angered Jordan beyond measure. Here was a man who was better than any player in history and most likely in the future. He led a no-good franchise to heights no one had ever imagined. And how did the owner reward him? By claiming that he would regret paying MJ what he deserved.

It is likely that this played a major role in Michael Jordan retiring for the second time at the end of the 97-98 season. Though he would return one more time, it wouldn’t be in Chicago colors.

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