Michael Jordan was drafted in 1984, with the third overall pick. It was a historic selection, one that turned the Chicago Bulls into a dynasty. He was just 21 years of age and has just completed three years at the University of North Carolina. With his first contract, MJ earned a measly $650,000 a year after deductions. However, as he revealed in an interview with the Cigar Aficionado, he had actually approached then-owner, Jonathan Kolver for a bump in pay. And, when he suggested an attendance clause, he was brutally shut down.
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At the time he was drafted, His Airness had the third-highest rookie contract in league history. That coupled with his $2,500,000 Nike contract meant he was earning quite a bit of money. Even then, he was still looking to improve his income, showing just how business-minded he was even at a young age.
Michael Jordan revealed he once asked the Chicago Bulls for an attendance clause in his rookie contract
In 1984, Michael Jordan signed a seven-year deal with the Chicago Bulls. It was a rookie contract, one that earned him $6,300,000, and close to $850,000 a year. However, that wasn’t enough for His Airness.
As he revealed in an interview, Jordan was earning only $650,000 a year after deductions. A fair amount, given it was the third-highest rookie deal at the time. But, this wasn’t enough for His Airness, who felt he was worth a lot more. So, he instructed his agent, David Falk to approach then-owner Jonathan Kovler to include a new clause.
Given that there was no signing bonus, Falk suggested including an attendance clause. At the time, the Bulls were averaging 6000 people a game, and Jordan was hoping to capitalize on that. Unfortunately, things did not work out, as he was brutally rejected. Why? Well, Kovler made it clear, that since they had drafted him third overall, they were expecting him to “put people in the seats”.
“Financially? People are going to love this. It was a seven-year deal. I averaged about $850,000 a year. The first year’s compensation was $650,000. There was no signing bonus. We tried to get an attendance clause. They were averaging 6,000 people a game. So we thought, OK, we’re going to ask for an attendance clause. At the time, Jonathan Kovler was the owner. My agent, David Falk, went in and asked for that. Kovler said, We’re not going to give him an attendance clause because if we draft him at the three spot, he’d better put people in the seats. So they never gave us an attendance clause.”
Things certainly didn’t go as planned for MJ. But, things changed over the years, as his performances warranted a bigger contract. And, finally, he got his just desserts when he got a whopping $30,000,000 deal from the Bulls.
MJ finally got his big money deals as his career progressed
After his rookie year, it became clear that Michael Jordan was destined for greatness. So, as his career progressed, his salary also increased generously. In 1988, he signed an eight-year deal worth $25,700,000, a massive deal. And one, that became even bigger when he signed two one-year deals in 1996 and 1997 worth $30,000,000.
Safe to say, Jordan got his money’s worth once his career came to a close. By the end, he had earned close to $93,877,500, and this along with his incredible earnings from endorsements made him one of the richest athletes in the world. An athlete with an empire worth close to $2 billion.
