The career of the best basketball player in the world took off 40 years ago with his first professional contract. Michael Jordan‘s first salary with the Chicago Bulls was meager by today’s NBA standards. And soon too small even then.
On September 12, 1984, Michael Jordan (then 21) made history. The basketball legend signed his first professional contract in the North American NBA league with the Chicago Bulls 40 years ago. This was followed by an extraordinary career with six NBA championships and the best points average in league history at 30.1.
WELT shows the historical document. His first salary: a measly $455,000 by today’s NBA standards – taking inflation into account, this would be equivalent to 1.25 million euros today. The current NBA top earner is Golden State’s Stephen Curry (36) with 50.4 million euros!
Those were different times in the NBA: Jordan (61) came into the league as a rookie from the University of North Carolina. His contract with the Bulls actually ran for seven years (for $6.3 million including a signing-on fee of $250,000) – that is, $900,000 per season (equivalent to €2.46 million today). But it quickly became clear that Jordan was underpaid given his performance. In his first four NBA seasons, he averaged 32.7 points per game. In 1987/88, he was voted “most valuable player” (MVP) for the first time – he received this award five times in his career.
So the contract was terminated and extended under improved conditions: eight years for 25.7 million dollars (an average of 3.21 million) – today that would be 61.6 million euros. In the first year of the contract, 1988/89, Jordan earned around two million dollars (today 4.8 million euros), but was still only sixth in the NBA. New York’s Patrick Ewing was ahead with 3.25 million dollars (today: 7.8 million euros).
In his 16 NBA seasons, Jordan only really cashed in at the end: in 1996/97 he received 30.14 million dollars (equivalent to 54.5 million euros today), and in 1997/98 he even received 33.14 million dollars (equivalent to 58.1 million euros today). In total, he earned NBA salaries of 93.8 million dollars (equivalent to 175.7 million euros today).
Rich thanks to Nike
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For comparison: LeBron James (39) leads the NBA’s all-time money list with 432.5 million euros. In 2024/25 he will receive another 43.9 million, and if he exercises his contract option for 2025/26 he would be guaranteed another 47.4 million. He would then have a salary total of 523.8 million euros (over 23 NBA years).
Jordan became a billionaire off the NBA court: The basketball legend has earned 2.4 billion euros through sponsorship contracts – including with Nike and their shoe brand “JordanBrand”. Jordan is set to receive five percent of each “Jordan Brand” revenue. In 2023, this was 315 million euros (out of 6.3 billion in sales). In 1984, he signed with the shoe brand for 2.5 million dollars over five years (that would be the equivalent of 6.9 million euros today).
Last year he sold the majority of his shares in the NBA club Charlotte Hornets, which are worth around 2.7 billion dollars. It is not known exactly how much he received. It was certainly a good deal: in 2010, Jordan acquired the majority of the club for 250 million euros.
Michael Jordan childhood
The Rise of a Basketball Legend: Michael Jordan’s Illustrious Career
Forty years ago, on September 12, 1984, Michael Jordan, then just 21, made history by signing his first professional contract with the Chicago Bulls <a href="https://en.wikipedia.org/wiki/MichaelJordan”>[1]. This marked the beginning of an extraordinary career that would cement Jordan’s status as the best basketball player in the world. Over the course of his 16-year NBA career, Jordan would go on to win six NBA championships and earn the highest points average in league history at 30.1 [3].
Jordan’s first salary with the Bulls was a humble $455,000, a meager amount by today’s NBA standards <a href="https://en.wikipedia.org/wiki/MichaelJordan”>[1]. Adjusted for inflation, this would be equivalent to approximately 1.25 million euros today. In contrast, the current NBA top earner, Golden State’s Stephen Curry, earns a whopping 50.4 million euros <a href="https://en.wikipedia.org/wiki/MichaelJordan”>[1].
Early Years and Underpayment
Jordan entered the league as a rookie from the University of North Carolina, signing a seven-year contract with the Bulls worth $6.3 million, including a signing-on fee of $250,000 <a href="https://en.wikipedia.org/wiki/MichaelJordan”>[1]. This worked out to $900,000 per season, equivalent to approximately €2.46 million today. However, it soon became clear that Jordan was underpaid given his exceptional performance on the court. In his first four NBA seasons, he averaged an impressive 32.7 points per game, earning him his first “most valuable player” (MVP) award in 1987/88 <a href="https://en.wikipedia.org/wiki/MichaelJordan”>[1].
Contract Extensions and Increased Earnings
As Jordan’s performances continued to impress, his contract was terminated and extended under improved conditions. He signed an eight-year deal worth $25.7 million, averaging $3.21 million per year, equivalent to approximately 61.6 million euros today <a href="https://en.wikipedia.org/wiki/MichaelJordan”>[1]. In the first year of this contract, 1988/89, Jordan earned around two million dollars, equivalent to approximately 4.8 million euros today, ranking him sixth in the NBA <a href="https://en.wikipedia.org/wiki/MichaelJordan”>[1].
It wasn’t until the later years of his career that Jordan’s earnings really took off. In 1996/97, he received 30.14 million dollars, equivalent to approximately 54.5 million euros today, and in 1997/98, he earned an impressive 33.14 million dollars, equivalent to approximately 58.1 million euros today <a href="https://en.wikipedia.org/wiki/MichaelJordan”>[1]. In total, Jordan earned NBA salaries of 93.8 million dollars, equivalent to approximately 175.7 million euros today <a href="https://en.wikipedia.org/wiki/MichaelJordan”>[1].
Becoming a Billionaire Off the Court
Jordan’s success on the court was matched by his shrewd business acumen off the court. His partnership with Nike proved to be a lucrative one, earning him an estimated 2.4 billion euros <a href="https://en.wikipedia.org/wiki/MichaelJordan”>[1]. This staggering figure has propelled Jordan to billionaire status, a testament to his enduring legacy as a basketball legend and savvy entrepreneur.
In comparison, LeBron James, another NBA great, leads the NBA’s all-time money list with an estimated 432.5 million euros <a href="https://en.wikipedia.org/wiki/MichaelJordan”>[1]. James is expected to earn an additional 43.9 million euros in 2024/25 and 47.4 million euros in 2025/26, should he exercise his contract option <a href="https://en.wikipedia.org/wiki/MichaelJordan”>[1].
Legacy and Impact
Michael Jordan’s remarkable career serves as a testament to his hard work, dedication, and unwavering passion for the game of basketball. From humble beginnings to global superstardom, Jordan’s legacy continues to inspire generations of basketball enthusiasts around the world. As we look back on his illustrious career, it’s clear that Jordan’s impact on the sport of basketball will be felt for years to come.
References:
<a href="https://en.wikipedia.org/wiki/MichaelJordan”>[1] Wikipedia – Michael Jordan
<a href="https://it.wikipedia.org/wiki/MichaelJordan”>[2] Wikipedia (Italian) - Michael Jordan
[3] Basketball-Reference.com – Michael Jordan
Michael Jordan enfants
The Rise of Michael Jordan: From Humble Beginnings to NBA Greatness
Forty years ago, on September 12, 1984, Michael Jordan signed his first professional contract with the Chicago Bulls, marking the beginning of an extraordinary career that would cement his status as the best basketball player of all time. Jordan’s inaugural salary was a modest $455,000, equivalent to approximately 1.25 million euros today. In contrast, the current NBA top earner, Stephen Curry, takes home a staggering 50.4 million euros annually.
Jordan’s journey to greatness began when he joined the NBA as a rookie from the University of North Carolina. His initial seven-year contract with the Bulls was worth $6.3 million, including a $250,000 signing bonus. This translated to an annual salary of $900,000, equivalent to around €2.46 million today. However, it soon became apparent that Jordan was underpaid considering his remarkable performance, averaging 32.7 points per game in his first four NBA seasons. In 1987/88, he was voted the NBA’s Most Valuable Player (MVP) for the first time, an award he would go on to receive five times in his career.
As Jordan’s talent and popularity grew, so did his earnings. In 1988, his contract was terminated and extended for eight years, with a total value of $25.7 million. This deal was worth approximately €61.6 million in today’s terms. In the first year of the contract, Jordan earned around $2 million, equivalent to around €4.8 million today, but was still only sixth in the NBA in terms of salary. New York’s Patrick Ewing led the pack with a salary of $3.25 million, equivalent to around €7.8 million today.
In the latter stages of his 16-year NBA career, Jordan finally began to command the salaries that reflected his immense talent and contributions to the Bulls. In 1996/97, he earned $30.14 million, equivalent to around €54.5 million today, and in 1997/98, he took home a staggering $33.14 million, equivalent to around €58.1 million today. Throughout his NBA career, Jordan earned a total of $93.8 million in salaries, equivalent to approximately €175.7 million today[[[2]].
However, Jordan’s true wealth was yet to come. He became a billionaire through endorsement deals, most notably with Nike and their “Jordan Brand” subsidiary. According to reports, Jordan receives five percent of “Jordan Brand” revenue, which amounted to around €315 million in 2023, out of total sales of €6.3 billion[[[3]]. In 2024, Jordan topped the list of highest-paid athletes of all time, with inflation-adjusted earnings of $3.75 billion since leaving the University of North Carolina[[[3]].
In addition to his endorsement deals, Jordan also profited from his ownership stake in the Charlotte Hornets. In 2010, he acquired the majority of the club for around €250 million. Last year, he sold the majority of his shares in the club, estimated to be worth around €2.7 billion.
In comparison, LeBron James, currently the NBA’s all-time leading earner, has accumulated around €432.5 million in salaries over his 23-year career. He is set to earn an additional €43.9 million in 2024/25 and could reach a total of €523.8 million if he exercises his contract option for 2025/26.
Michael Jordan’s extraordinary career is a testament to his hard work, dedication, and entrepreneurial spirit. From his humble beginnings with the Chicago Bulls to his current status as a billionaire, Jordan’s impact on the world of basketball and beyond is undeniable. His legacy continues to inspire generations of athletes and fans alike.
