Michael Jordan’s $33M Contract with Bulls Hits Auction Block

Michael Jordan’s single-season contract with the Chicago Bulls for the 1997-98 season was the last he ever signed with the team. At $33M, it’s still the highest single-season contract in NBA history and the only Jordan contract to ever be available to the public. It’s signed by Jordan himself and initialed by him on each of the contract’s 24 pages. Jerry Krause, former Bulls general manager, and Bulls Financial Officer Irwin Mandel also gave their signatures. The winner also gets a two-page cover letter from Mandel to the NBA. The consignor, who prefers to remain anonymous, bought the contract as part of a charity auction in 2000 for less than $1,000. And when compared to other historical contracts that have hit the auction block, the current $50,000 bid via Dallas-based Heritage Auctions is a steal. The most valuable sports contract ever sold was Babe Ruth’s 1918, $5,000 Red Sox contract, which was sold in an auction earlier this month for $1.02 million. The auction for Jordan’s contract ends July 31st.


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