Jerry Krause Salary, Net Worth, Career, How Much Earn Per, Education and Bio

Jerry Krause was a sports scout and executive who was best known for being the general manager of the Chicago Bulls from 1985 to 2003. He was instrumental in building the Bulls dynasty that won six NBA championships in the 1990s, led by superstar Michael Jordan. He also worked as a baseball scout for several teams, including the Chicago White Sox. He passed away in 2017 at the age of 77. In this article, we will explore his salary, net worth, career, education, and bio in more detail.

Salary and Net Worth

Jerry Krause had a net worth estimated to be about $5 million as of 2023. He was believed to have amassed his impressive net worth from his profession as a sports scout and executive, and perhaps some other ventures as well. He earned most of his money as the general manager of the Chicago Bulls, a position he held for 18 years. He received the NBA’s Executive of the Year award on two separate occasions, in 1988 and 1996.

His salary as the general manager of the Bulls was not publicly disclosed, but it was likely to be in the range of hundreds of thousands of dollars per year. According to [Forbes], the average salary of an NBA general manager in 2020 was $3 million, but it varied depending on the team’s performance, market size, and ownership. Jerry Krause was one of the most successful and influential general managers in NBA history, so he probably earned more than the average.

Career

Jerry Krause started his career as a basketball scout for the Baltimore Bullets, now known as the Washington Wizards, in the 1960s. He was credited by some for discovering future Hall-of-Famer Earl Monroe. He also scouted for the Phoenix Suns, Philadelphia 76ers, Los Angeles Lakers, and the Chicago Bulls in the 1970s. He developed a reputation for recognizing talent and spotting potential stars.

He also worked as a baseball scout for the Cleveland Indians, Oakland Athletics, Seattle Mariners, and Chicago White Sox in the 1970s and 1980s. He played a role in the signing of Ozzie Guillén and Kenny Williams, who would lead the White Sox to a World Series championship in 2005 as manager and general manager, respectively.

In 1985, he became the general manager of the Chicago Bulls, replacing Rod Thorn. He hired longtime personal friend Tex Winter as an assistant coach and urged him to teach the Triangle Offense to the Bulls players, especially Michael Jordan. He also hired Phil Jackson as the head coach in 1989, after firing Doug Collins. He had a close relationship with Jackson, whom he had scouted and befriended in the 1970.

Jerry Krause was responsible for assembling the Bulls roster that dominated the NBA in the 1990s. He drafted or traded for players like Scottie Pippen, Horace Grant, Dennis Rodman, Toni Kukoc, Steve Kerr, and Ron Harper. He also signed free agents like John Paxson, Bill Cartwright, B.J. Armstrong, and Luc Longley. He created a balanced and versatile team that complemented Jordan’s brilliance and Jackson’s coaching.

The Bulls won six NBA championships in eight years, from 1991 to 1998, with two three-peats. They set a record for the most wins in a regular season with 72 in 1995-96. They also became a global phenomenon, attracting millions of fans around the world. Jerry Krause was widely praised for his vision, strategy, and management skills.

However, he also faced criticism and controversy for his strained relationship with Jordan, Pippen, and some other players and coaches. He was accused of being arrogant, insecure, and meddling. He was often at odds with Jordan over personnel decisions, contract negotiations, and media attention. He famously said that “organizations win championships, not players”, which angered Jordan and others who felt that he was undermining their contributions.

He also clashed with Pippen over his salary and trade demands, and with Jackson over his coaching future. He announced before the 1997-98 season that it would be Jackson’s last year with the Bulls, regardless of the outcome. He also planned to rebuild the team after the season, which led to the breakup of the dynasty. He was portrayed as the villain in the 2020 documentary series The Last Dance, which chronicled the Bulls’ final championship run.

After the 1997-98 season, Jerry Krause tried to rebuild the Bulls with young players and new coaches, but he failed to replicate his previous success. The Bulls went from being champions to being one of the worst teams in the league. He resigned in 2003, citing health reasons. He later worked as a scout for the New York Yankees, New York Mets, Chicago White Sox, and Arizona Diamondbacks in baseball. He was posthumously inducted into the Basketball Hall of Fame in 2017.

Education and Bio

Jerry Krause was born Jerome Richard Krause on April 6, 1939, in Chicago, Illinois. The names of his parents and possible siblings are not disclosed. He played high school baseball as a catcher at Taft High School in Chicago and attended Bradley University, focusing on sports. He was Jewish and married to Thelma Krause, with whom he had a son David and a daughter Stacy. He suffered from osteomyelitis and passed away on March 21, 2017, two weeks before his 78th birthday.

Conclusion

Jerry Krause was one of the most influential figures in the history of basketball and sports. He was the architect of the Chicago Bulls dynasty that won six NBA championships in the 1990s, led by Michael Jordan and Phil Jackson. He was also a successful baseball scout who worked for several teams, including the Chicago White Sox. He had a net worth of about $5 million as of 2023 and a salary that was likely to be in the high six figures. He was a visionary, a strategist, and a manager who left a lasting legacy in the sports world.

Most Asked Questions and Answers

• Q: How many rings did Jerry Krause win?
  • A: Jerry Krause won six rings as the general manager of the Chicago Bulls, in 1991, 1992, 1993, 1996, 1997, and 1998.
• Q: How did Jerry Krause die?
  • A: Jerry Krause died of complications from osteomyelitis, a bone infection, on March 21, 2017, at the age of 77.
• Q: How did Jerry Krause find Scottie Pippen?
  • A: Jerry Krause found Scottie Pippen by scouting him at the University of Central Arkansas, a small Division II school. He traded the eighth pick in the 1987 NBA draft, Olden Polynice, to the Seattle SuperSonics for the fifth pick, Pippen, and a future second-round pick.
• Q: Why did Jerry Krause break up the Bulls?
  • A: Jerry Krause broke up the Bulls because he wanted to rebuild the team with younger players and a new coach. He also had conflicts with Michael Jordan, Scottie Pippen, and Phil Jackson over their contracts, roles, and egos. He believed that the Bulls had reached their peak and needed a fresh start.
• Q: What did Michael Jordan think of Jerry Krause?
  • A: Michael Jordan had a complicated and contentious relationship with Jerry Krause. He respected him for building the Bulls dynasty, but he also resented him for taking credit away from the players, making questionable decisions, and trying to end the dynasty. He often mocked and challenged him in public and private.
• Q: Who replaced Jerry Krause as the Bulls GM?
  • A: John Paxson, a former Bulls player and assistant coach, replaced Jerry Krause as the Bulls GM in 2003. He held the position until 2009, when he became the executive vice president of basketball operations. He was succeeded by Gar Forman as the GM.
• Q: How tall was Jerry Krause?
  • A: Jerry Krause was 5 ft 5 in (1.65 m) tall, which was relatively short for a sports executive. He was often teased by Michael Jordan and others for his height and weight.
• Q: Was Jerry Krause in The Last Dance?
  • A: Jerry Krause was featured in The Last Dance, a 2020 documentary series that chronicled the Bulls’ final championship season in 1997-98. He was portrayed as the main antagonist who wanted to break up the team and fire Phil Jackson. He was interviewed for the series before his death, but his footage was not used.
• Q: Did Jerry Krause play sports?
  • A: Jerry Krause played baseball as a catcher in high school and college. He also played basketball in high school, but he was not very good at it. He focused on sports journalism and scouting after graduating from college.
• Q: Is Jerry Krause in the Hall of Fame?
  • A: Jerry Krause is in the Basketball Hall of Fame, as he was posthumously inducted in 2017 as a contributor. He was also nominated for the Baseball Hall of Fame in 2018, but he did