Get the latest updates as we post them — right on your browser

. Last Updated: 07/27/2016

Jordan Inks a Team Sports Record

CHICAGO -- Michael Jordan's contract negotiations went so quickly he had time to get to the golf course.

Jordan, the superstar guard of the NBA champion Chicago Bulls, on Friday agreed to a one-year contract worth a reported $30 million, the biggest one-season deal in team sports history.

He had just completed an eight-year, $24 million deal and was a free agent for the first time in his career.

Telephone discussions among Jordan, representatives David Falk and Curtis Polk and Bulls chairman Jerry Reinsdorf lasted just an hour before the landmark deal was consummated. Jordan spent the rest of the afternoon at a golf tournament.

Jordan said he expected to stay in Chicago all along.

"For the most part, every time I've had conversations with Jerry, we were very positive about it," Jordan said.

"So it didn't leave me any thought to think elsewhere or think differently. I think my agent may have considered other things because that's his job, he has to research and see what the options may be. But me, I always thought I would be in Chicago."

The Chicago Tribune put the value of the deal at $30 million, but when Jordan was asked how much he would receive, he said: "It's none of your business."

Jordan averaged 30.4 points in 82 games to win his record eighth scoring title and led the Bulls to a record 72 wins this past season.

"This contract is a testimony to Michael's unique contribution to the Chicago Bulls franchise, the United Center and the city of Chicago," said Jordan's representative David Falk. "The time frame in which it was finalized reflects the special relationship Michael has developed with Jerry Reinsdorf over the past 11 years."

Reinsdorf confirmed that Jordan preferred a one-year contract.

"Michael asked for a one-year contract because he never wants to play if he is unable to meet his own high standards," said Reinsdorf.

"This way, Michael and the Bulls will be able to discuss what is appropriate for each subsequent season."

Jordan became the fourth player -- and the only non-center -- to win the MVP at least four times. Only Kareem Abdul-Jabbar (six times) and Bill Russell (five) have more MVP awards. Wilt Chamberlain also was a four-time MVP. Jordan won in 1988, 1991, 1992 and 1996.

Jordan, a 10-time NBA All-Star, ended a 17-month retirement in March 1995 after a failed experiment as a baseball player and finished the 1994-95 season on a sour note, when the Bulls were knocked out of the Eastern Conference semifinals.

But this season, Jordan returned with a vengeance and the Bulls set an NBA single-season record with 72 wins. Along with the league scoring title, Jordan averaged 6.6 rebounds and 4.3 assists per game. He also had 180 steals and was named to the NBA All-Defensive Team.