Michael Jordan’s $6,000,000 rookie deal ranked among 1980s' most expensive contracts (and it’s not the highest)

Modified Sep 12, 2023 18:13 GMT

Looking at how Michael Jordan's rookie contract stacked up to the biggest contracts of its time

When Michael Jordan joined the NBA, few could have predicted that he would have such a historic career. After being drafted third by the Chicago Bulls in the 1984 NBA draft, Jordan went on to sign a contract that would leave modern-day NBA players baffled.

At the time, the NBA had just begun keeping track of salary information. The move couldn’t have come at a better time. Between the beginning of the Jordan era, and the battles between Magic Johnson and Larry Bird that were yet to come, the league was entering an exciting time.

Although Jordan went on to be arguably the greatest basketball player in NBA history, his rookie contract didn't reflect that. According to Spotrac, in 1984, Jordan signed his Rookie deal worth $6.3 million over seven years, with an annual salary of $455,000.

The number continued to increase year to year, until, four years into his deal, Jordan negotiated an extension. By the time he did, what started as a $455,000 salary had jumped to $795,000 a year. Nevertheless, Jordan still wasn't one of the highest-paid players.

On that note, let's take a look at the highest-paid players during Jordan's rookie deal from 1984 to 1988.

Highest-paid NBA players during Michael Jordan's rookie deal

1984 - Magic Johnson

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In 1984, the NBA began salary tracking. At the time, with the 1983 Collective Baragining Agreement, Magic Johnson was the highest-paid player in the league.

He was making $2.5 million a year, with the NBA salary cap at $3.6 million a year. For the 1984-85 season, Jordan earned just $455,000.

1985 - Magic Johnson

Much like he did in 1984, Magic Johnson was the highest-paid player in the league for the 1985 season with an annual salary of $2.5 million. While his pay didn't increase, the salary cap did jump to $4.233 million. At the same time, Michael Jordan's rookie deal saw him earn $630,000 for the year.

1986 - Magic Johnson

Magic Johnson once again led the league for the highest-paid player in 1986, earning $2.5 million.

That year, though, the salary cap for teams jumped up to $4.945 million, while Jordan's pay jumped up to $737,500. Notably, this was the penultimate year before Jordan renegotiated his rookie deal early.

1987 - Patrick Ewing

In 1987, Patrick Ewing took over for Magic Johnson as the highest-paid player in the league with an annual salary of $2.75 million. That year, the salary cap jumped to $6.164 million, while Michael Jordan earned $795,000.

After the end of the season, Jordan and his team negotiated an extension that voided the final three years of his rookie deal. The final three years of his deal were bundled into an eight-year extension, which saw him earn $25.7 million and carried him through the 1995-96 season.