This increase in
attendance led to higher merchandise sales and ticket revenues at the Chicago
Stadium. On July 7, 1993, the Chicago Tribune reported “If you make a
conservative estimate that 20 percent of the fans in recent years attended
Bulls games specifically to see Jordan, ‘that would turn out to be about $1
million more per game in ticket sales, food, beverages, transportation, parking
and souvenirs,’ [John] Skorburg [chief economist for the Chicagoland Chamber of
Commerce] said. Multiply that by the 294 straight sellouts and you have $294
million."
"Michael [Jordan] built the value of the franchise, which enabled us to build the United Center" -- Jerry Reinsdorf
With these higher revenues, Jerry Reinsdorf and Bill Wirtz, the owners of the Chicago Bulls, White Sox, and Blackhawks, decided to build a new stadium, the United Center (completed late 1994), to show off their rising star. The boom in attendance increased sales at a variety of local establishments, such as restaurants, taxis, hotels, airline flights, and an increase in Bulls merchandise sales. Simultaneously, Jordan added to the Chicago economy through corporate partnerships and endorsements with Chicago-based companies such as McDonald’s and Quaker Oats, as well as local advertising agencies such as the Leo Burnett Co.
