NBA

Michael Jordan's $33million final contract with the Bulls is up for auction

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Michael Jordan's final deal with the Chicago Bulls was the most valuable single season contract in the history of the NBA, and that particular document is up for auction.

In the word of sports memorabilia, Michael Jordan collectibles are about as special and as rare as they come, Items with his autograph or pictures of Air Jordan can hold incredible value.

Michael Jordan's season in 1997-98 is was one of incredible historical significance, the Bulls with their star player were able the three-peat the NBA Championship and it would be his 'Royal Airness' final season with the franchise.

That year he also signed the NBA record for the most valuable single season contract in history, Jordan's one year extension deal with the Bulls was for $33million.

Now collectors all across the world are drooling at the prospect of getting their hands on the document, according to ESPN.com's Darren Rovell there will be an opportunity to bid for the contract through Dallas-based Heritage Auctions.

Rovell reported: "The Chicago Bulls' original copy of Michael Jordan's $33 million contract -- the most valuable single-season contract in NBA history -- has hit the auction block. ...... The contract is signed by Jordan, himself, and initialed by him on each of its 24 pages. It's also signed by Jerry Krause, former Bulls general manager, and Irving Mandel, the man in charge of the Bulls' finances. The lot also includes a two-page cover letter from Mandel to the NBA."

Initial bidding has supposedly already topped $28,000, the auction will close on July 31 and the original estimation of the contract was around $30,000.

Jordan's global appeal will never cease its grip on the NBA industry, not only does his shoe company continue to roll out products which are universally adored, but now even scraps of paper with his signature on can trump up almost $30,000.

Heritage Auctions director of sports auction Chris Ivy has noted that the sale of the contract is unlike anything he has seen before.

He explained: "It's hard to compare this to anything we've sold, It's Jordan, who is in a class by himself, and, to our knowledge, this is the only Jordan playing contract to ever surface."

Topics:
Chicago Bulls
NBA
Michael Jordan

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