It was on September 12, 1984 that Michael Jordan signed his first NBA contract, and therefore his first contract with the Bulls. At the time, the salary cap was only $ 3.8 million, and there was no salary grid.
But Rod Thorn, the GM at the time, is convinced he has a nugget in the person of the MVP and gold medalist of the recent Olympic Games in Los Angeles. He therefore offered him a contract of 6 million over 7 years, including a signing bonus of one million. Do the math, Jordan signed this September 12, 1984 for a salary of 5 million over 7 years, or about 700,000 dollars per year. To be precise, Jordan will receive 550,000 dollars in the first season, with an annual salary increase (630,000 in 1985/86; 737,000 in 1986/87; etc.). It is quite simply the 3rd biggest contract for a rookie after those signed by Ralph Sampson and Hakeem Olajuwon, the Rockets twin towers. It is especially the biggest salary of the Bulls while he is only a rookie.
He waits until he turns 33 to become the highest-paid player in the NBA
To give you an idea of what that represents in 1984, the contract signed that day by Jordan would be equivalent in 2021 to a contract of $ 13.1 million over seven years, or an annual salary of about $ 2 million. This is what touches in 2021 the 19th choice of the draft during his first NBA year over four years.
In 1988, Jordan will use his release clause to sign a new contract of 25 million over 8 years. He then became the 5th biggest salary in the league, behind Magic Johnson, Pat Ewing, Kareem Abdul-Jabbar and Robert Parish, but ahead of Larry Bird and Hakeem Olajuwon.
Finally, it was not until 1996, at age 33, to become the highest paid player in the NBA with an annual contract of $ 30.1 million. Almost the equivalent of his first 10 seasons in the NBA.
