Threatened by Michael Jordan’s $85,000,000 Worth Ultimatum, $1.7 Billion Rich Bulls Member Was ‘Forced’ to Make Life-Changing Decision

It’s a well-known part of NBA lore. Michael Jordan built his glamorous NBA career with the Chicago Bulls. Despite his loyalty to the team, he had his fair share of conflicts with them. Many squads wanted Jordan, with one team willing to give ‘His Airness’ the biggest contract if he left the Bulls. Agonizingly, MJ and his savvy agent used that to their advantage.

In his book, There Is No Next, author Sam Smith detailed several interactions between Bulls owner, Jerry Reinsdorf, and his star player. They had their push-and-pull, but if there’s someone the billionaire would put his money on, it’s Michael Jordan. That’s why he gave him one of the richest deals in NBA history.

Jerry Reinsdorf gave Michael Jordan the biggest deal of all time

Michael Jordan made his NBA debut in 1984 with the Chicago Bulls. After his first three-peat from 1991 to 1993, other teams were very interested in having him. The media went wild in 1996 when the New York Knicks offered him $25 million for one year. Not the biggest contract now, but three decades ago, that amount of money could have bought him a bank!

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The offer gave way to an urban legend of Jordan and his famous sports agent, David Falk, negotiating the biggest contract the league had seen at that time. As it turns out, Jerry Reinsdorf revealed in There Is No Next, the story was far from a myth.

The Bulls owner had offered $20 million to Jordan and Falk. That would’ve still been the largest deal in the NBA, but it wouldn’t have made ‘Black Jesus’ the richest athlete. Falk countered with “$30 million for one season or $55 million for two.”

They threatened to go to the Knicks if Reinsdorf didn’t agree. The billionaire, though, believed it was a bluff. Jordan couldn’t leave the Bulls.

But the 1996 media was convinced otherwise. Jordan was the first superstar of his kind, and New York would give him the biggest media market. Moreover, Reinsdorf heard that the Knicks were trying a “back door move” through their investors, Sheraton Hotels. If MJ, as an investor, had a hotel in his portfolio, the Knicks could make it happen.

Anxiously, Reinsdorf contacted Lester Crown, a fellow investor of the Bulls. Crown told him to give Jordan the $30 million deal for one year. “I don’t believe Michael would have gone to New York, but I wasn’t taking chances,” Reinsdorf said.

Jordan took the deal and remained with the Bulls. It became the largest single-season contract in NBA history. Money well spent by Jerry as he says, “I should have gone for the fifty-five.” Because Jordan would lead the Bulls to another three-peat from 1996 to 1998.

It wasn’t Jordan’s first negotiation with Reinsdorf

Jordan hasn’t always successfully negotiated with the head honcho. In the same book, Reinsdorf recalled when Jordan tried to get him to fire his biggest off-court nemesis.

It’s no secret that Jordan repeatedly clashed with Bulls’ general manager, Jerry Krause. In one instance, Jordan went to Reinsdorf’s residence to make him fire Krause.

But Krause had built a title-winning team around Jordan. He recruited Scottie Pippen, Horace Grant, and Dennis Rodman. Reinsdorf saw Krause as an asset as much as Jordan was and refused. Interesting to know that there are some battles Jerry Reinsdorf won over ‘His Airness’.

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