Got Some Money To Blow? Michael Jordan's Record Setting 1997 Contract Can Be Yours

| by Jonathan Wolfe

Do you have many thousands of dollars lying around waiting to be used? Do you like basketball? Do you want to hang something cool on your wall that you can brag about every time your friends come over? If you answered yes to all these questions – and there’s a very good chance you didn’t – then head over to Heritage Auctions and bid on this awesome Michael Jordan contract.

Up for auction is the original contract Jordan signed for the 1997-1998 season – a year that culminated in him winning his sixth NBA title. The contract was for one year, $33 million dollars -- still the most lucrative one year payout in league history. As ESPN writer Darren Rovell notes, the contract would be worth $49 million today after accounting for inflation.

Chris Ivy, Heritage Auctions director of sports auctions, spoke with ESPN earlier about the contract.

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

The contract is 24 pages long, and includes the signatures of Jordan, former Bulls GM Jerry Krause, and Bulls finance executive Irwin Mandel.

Here's a picture of the contract, courtesy of Heritage Auctions:

As of this writing, the high bid on the contract is for $37,000. Just three hours ago, the bidding was only at $28,000. With a full week to go in the bidding process, it's a safe bet the contract goes for way more than the $30,000 Heritage Auctions originally valued it at.

As cool as this contract is, there’s little to no chance it fetches the $1.2 million final bid that Babe Ruth’s 1918 Red Sox contract did at an auction earlier this month.

While we’re on the topic of Jordan’s 1997-1998 season, relive some history by watching this video of his 45 point, championship-clinching performance in the 1998 Finals against the Jazz: