Basketball is very much in a revitalisation stage and is hoping Jordan's return will provide a much needed boost to the sport.
Analysts have predicted his return will be worth as much as $100m to the sport - if 38-year-old Jordan, who makes his debut for Washington Wizards against the New York Nicks, can stay fit for the two years of his contract.
The Wizards now have sell-out crowds, sponsorships and more TV dates simply because of Jordan and have predicted they will make an extra $20m. The other 28 NBA teams can look forward to another $30m from sales of tickets and merchandise.
Jordan's sponsors can budget for $15m in increased sales while the TV networks expect to pick up an additional $25m in advertising revenue.
Tickets for court-side seats at tonight's NBA season-opener were changing hands for $4,500 until New Yorkers realised that the Yankees were in action in the World Series on the same night. The price fell, but not by much.
Baseball viewing figures have been badly down and Rupert Murdoch's Fox network, in the first year of a six-year-deal worth $2.5 billion, is expected to lose up to $80m this season.
However, Fox and MLB are hopeful that that emotion of a New York team taking part in the season's climax after the September 11 terrorists attacks will dramatically lift the sport.
The Yankees are already 2-0 down to Arizona in the best of seven series but the Nielsen Media ratings have been promising.
The second game, which saw Arizona defeat the Yankees 4-0, scored the highest rating for a World Series tie in two years. Broadcast on Fox, it hit a 16.1 rating with a 24 share of audience - up 6 percent on the same game last year.
Basketball and baseball are set for one of its most crucial days in New York later tonight with the dream double of Michael Jordan's NBA return at Madison Square Garden and the Yankees at home in the World Series.
