The best day in Chicago Bulls history happened 31 years ago today. That’s when they signed their No. 3 pick from the 1983 draft to a deal of the century contract that paid Michael Jordan less than a million dollars a year for his first couple of years of service: 7-year (5 guaranteed), $6 million ($1M signing bonus). Not bad considering the Bulls’ attendance doubled by the end of Jordan’s Rookie of the Year season, and they didn’t even want to draft him!
Photo from day in 1984 that Michael Jordan signed 5-year, $2.5M deal w/Nike pic.twitter.com/YtVhVKIglD
— Darren Rovell (@darrenrovell) February 12, 2015
After his fifth season, the Bulls re-signed MJ to an eight-year deal worth $25 million, which also qualified as a deal of the century, although every deal with MJ in the ’80s and early ’90s basically was a deal of the century.
One of those deals was Quaker Oats’ 10-year, $13.5-18 million one in 1991 to make MJ the face of their Gatorade drink. It’s hard to imagine MJ and Gatorade not being a couple, but Coke was actually the first drink to wine and dine him. The reason they lost him is that MJ’s super agent, David Falk, wanted Coke to offer MJ a 10-year deal. They actually said NO!
The only relationship not happening that’s harder to imagine than Mike and his “Want to Be Like Mike” campaign makers is Mike not being with Nike. MJ’s original deal with the shoemakers was worth about half a million a year. That relationship has been so beneficial to both parties that they now pay him over $60 million a year to endorse the brand and wear the Jordan shoes under his extra-baggy, ripped jeans. It’s fun to think about how different things would have been if he got his original dream date and married Adidas instead.
With Falk by his side, MJ also signed deals with McDonalds, Chevy ($200K as a rookie), General Mills ($2M in ‘88), Sara Lee, Wilson, Hanes Underwear ($10M in ‘89), and Ball Park Franks ($2M in ‘90). Despite the numerous deals he had, MJ reportedly refused many lucrative offers, including a million dollars for a one-day appearance in Jordan to promote tourism.
He would finally receive a huge NBA Pay Day in 1996 when he signed a one-year deal with the Bulls worth $30 million and then a one-year $33 million contract the following year. It was more than the Bulls wanted to pay, but considering the Knicks were rumored to be offering MJ a deal worth over $20 million, the Bulls had to make their biggest investment ever. Lucky for them, it paid off with back-to-back championships and a few more years with the GOAT.
Source: Hoop Magazine article from December 1991 written by Mark Vancil
Check out some of the first commercials he did before he started shaving his head.
GENTLE TREATMENT HAIR COMMERCIAL (1986)
NIKE COMMERCIAL (1985/86)
COKE/FOOD LION COMMERCIAL (1985)
CHEVY COMMERCIAL (1986)
1 of Michael Jordan’s 1st ads for local Chevy in 1985 pic.twitter.com/JS0NSBOJ
— Darren Rovell (@darrenrovell) February 14, 2013
How long did it take Sonny to convince Michael Jordan to sign with him?