For Only 3rd Time in Their History, Chicago Bulls Set to Sacrifice Millions in a Bid to Re-enact Michael Jordan’s NBA Era

Published 07/24/2023, 11:22 AM EDT

With Michael Jordan ruling the courts, Chicago Bulls became the most feared team in the NBA towards the end of the 20th century. Seems like the Bulls made a deal with the devil for the success they achieved in the 90s, as they have been massively incompetent since then. The 1998 championship victory remains the last title won by the franchise.

But it seems like the organization is willing to splurge in order to bring back the glory days. To change their fortunes, the NBA side is set to take some drastic steps on the financial side, as they are not leaving any stone unturned.

Chicago Bulls ready to spend millions for change in fortune

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The NBA has put forward some rules and regulations which ensure fair play in the league in order to prevent the ultra-rich owners from exploiting their resources. Despite this, it was reported that the Chicago Bulls has only paid the luxury tax two times in the NBA’s history.

It was reported that the Bulls are willing to go above and beyond in order to bring back NBA silverware to the city of Illinois. The Chicago-based outfit is set to load a bunch of talent in the off-season and this will only be the third time in NBA history Chicago is set to pay the luxury tax.

After re-signing Ayo Dosunmu, the Chicago Bulls are only ~$1.8M under the luxury tax. They could get to ~$3.7M under.
In their history, CHI has only paid the tax twice, for a total of just over $8M.
Hard to believe they'll go deep into the tax to add more guys this offseason.
— Keith Smith (@KeithSmithNBA) July 23, 2023

It’ll be interesting to see what players will make it into the Bulls roster to compete with other super teams in the NBA.

As the team tries to bring back the glory days back to Chicago, it was reported that Michael Jordan might be bidding a farewell to the game of basketball completely, as the sale of his NBA team is set to be finalized.

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Michael Jordan finalizes the sale of the Charlotte Hornets

Michael Jordan purchased the majority stake of the team, the Charlotte Hornets, in 2010. After more than a decade of ownership, it was reported that Jordan is set to sell the organization for $3 billion.

The Hornets have been to the playoffs twice times during Jordan’s ownership. MJ wasn’t able to bring a similar amount of success to the Hornets that he brought to Chicago as a player.

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Do you think the Bulls will bring back the NBA trophy to Chicago anytime soon? Let us know in the comments.

WATCH THIS STORY | Bubba Wallace reveals the problem with MJ’s racing team.

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Written by:

Aaditya is an NBA writer at EssentiallySports and has been following the game for a number of years. He is an avid fan of the NBA and follows what’s happening in the league on a daily basis. Having worked as an intern in the sports domain, his passion for writing arose from his fondness for the intricacies of the game.

Edited by:

Sharan Nair

For Only 3rd Time in Their History, Chicago Bulls Set to Sacrifice Millions in a Bid to Re-enact Michael Jordan’s NBA Era

Chicago Bulls ready to spend millions for change in fortune

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