Chicago Bulls Essay

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“The first time I stepped on an NBA court I became a businessman.” - Lebron James. The National Basketball Association is the pre-eminent men's professional basketball league in the world. It is widely considered to be the premier men's professional basketball league in the world. The NBA and it’s teams are part of the sports entertainment industry, just like any other major sports league in the world (NFL, MLB, NHL and other national sports leagues). A national sports team, in particular an NBA company makes it’s money by appealing the game to the audience in various ways. The company chooses a target group and a city to look for the customers who are willing to spend money.Then, the franchise gets paid with four main income sources of the …show more content…

The Bulls are the NBA’s third billion-dollar franchise. The team’s $1 billion valuation is up 25% from a year ago. The Bulls are one of the NBA’s most profitable teams every year thanks to four straight years of league-leading attendance, as well as payroll restraint. Although last season, the Bulls bumped up their payroll and incurred a $3.9 million luxury tax bill. Profits in the NBA were still fourth highest in the league at $52 million (Mike Ozanian, The Business Of Basketball). But times were not always as bright as today, before Michael Jordan who reigned his era with 6 NBA championships (1991,1992,1993, 1996,1997, and 1998) during the 1990’s (How Many Championships Did Michael Jordan Win?). During Michael’s rookie season (1984-19859, attendance soared 87% at home games, (Roy Johnson, The Jordan Effect The World's Greatest Basketball Player Is Also One of Its Great Brands. What Is His Impact on the Economy?) though the Chicago Bulls only had a record of 38-44 (1984-85 Chicago Bulls). Not to forget, at Bulls road games Michael Jordan boosted attendance with a result of $2 million in net gain over the previous season. By the 1988-89 season, the Bulls were selling out every night. CNN, estimates that Jordan's impact on home gate receipts is $135 million, while only impacting road games by $30.5 million. Together that makes $165.5 million as Jordan’s overall impact on NBA attendance. However this is only a small fraction of the vast $10 …show more content…

Source 16: Ozanian, Mike. "The Business Of Basketball." Forbes. Forbes Magazine, n.d. Web. 14 May 2014.

Source 9: Johnson, Roy. "The Jordan Effect The World's Greatest Basketball Player Is Also One of Its Great Brands. What Is His Impact on the Economy?" CNNMoney. Cable News Network, 22 June 1998. Web. 28 Apr. 2014.

Source 3: "NBA.com - NBA Rules History." NBA.com - NBA Rules History. N.p., n.d. Web. 28 Apr. 2014.

Source 6: Hawkins, Mark. "The Dynasty-less ’70s: A Decade of the NBA." Yahoo Sports. N.p., 1 Apr. 2011. Web. 16 Jan. 2014.

Source 10: "1984-85 Chicago Bulls." Basketball-Reference.com. N.p., n.d. Web. 14 May 2014.

Source 14: "NBA Tips Off 2013-14 Season With Record International Player Presence."NBA.com. N.p., n.d. Web. 13 May 2014.

Source 11: "How Many Championships Did Michael Jordan Win?" - Ask.com. N.p., n.d. Web. 14 May 2014.

Source 1: "National Basketball Association." Wikipedia. Wikimedia Foundation, 05 Dec. 2014. Web. 14 May 2014.

Source 2: Harris, Nick. "Global Sports Salaries Survey 2012: The Richest Teams by Average First-team Pay." Sporting Intelligence REVEALED The Worlds Best Paid Teams Man City Close in on Barca and Real Madrid Comments. N.p., n.d. Web. 14 May

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