NBA legend Michael Jordan signed an 8-year $25M contract with the Chicago Bulls in 1988 after having one of the greatest individual seasons in NBA history.
Michael Jordan is one of the most iconic figures in American sports history. The superstar eclipsed every milestone a basketball player can right from his college days in North Carolina. His Airness played a major role in popularizing the NBA at a global level.
The former NCAA champion made his pro basketball debut in 1984. In his debut year, MJ was crowned rookie of the year and was an All-Star in his very first season. As years passed, Jordan would establish himself as a top superstar in the league.
The 1987-88 season was a milestone year for the Bulls superstar, winning the league and All-Star MVP, DPOY, and his second scoring title. Probably, one of the greatest seasons a player can dream of. The 14x All-Star could play both ends of the floor.
In 1988, Michael Jordan signed one of the biggest contracts in NBA history – just $25 million/8years
Jordan’s stat line during the 1987-88 season is nothing short of phenomenal. The superstar averaged 35.0 PPG, 5.9 APG, 5.5 RPG, 3.2 SPG, and 1.6 BPG on a 53.5% shooting from the field. MJ seemed invincible during the season, leading the league in steals as well.
His flawless stat line earned him all the major accolades of the year, including MVP, DPOY, and scoring champion. Thus MJ had rightfully earned the privilege of signing the biggest contracts in league history during the time.
Jerry Reinsdorf, the chairman of the Chicago Bulls, offered Jordan an 8-year $25M contract. MJ seemed content with the contract.
1988: Michael Jordan signs 8 year, $25 million contract.
“For 7.5 years, MJ won 4 titles, 4 finals MVP’s, 3 regular season MVP’s & 6 scoring titles. And you think Scottie was underpaid? Michael is the most underpaid athlete ever.” — @ColinCowherd pic.twitter.com/4R7SzwZDfq
— Herd w/Colin Cowherd (@TheHerd) April 20, 2020
The Bulls superstar had the following to say about his mega-contract.
I think it makes me work harder and earn what I’m getting paid–not that I wasn’t earning it already.
Though MJ didn’t win a title that year, he had clearly established himself as one of the if not the best players. During the time, the Bulls were developing Scottie Pippen into an All-Star. Thus after a couple of seasons, Pippen and Jordan would go on to create history.