(CBS) Chicago Bulls chairman Jerry Reinsdorf has been selected into the Naismith Memorial Basketball Hall of Fame, it was announced Monday.

Reinsdorf, 80, has owned the Bulls since 1985. He’s also the primary owner of the Chicago White Sox.

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Under Reinsdorf’s ownership, the Bulls have won six championships — in 1991, 1992, 1993, 1996, 1997, 1998 — made the playoffs 24 times and compiled a winning percentage of .552. His tenure in charge of the franchise also saw the undertaking of the United Center in 1994 and continued renovations to the Bulls’ home.

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“It is a very humbling honor to be selected as a member of the Basketball Hall of Fame,” Reinsdorf said in a statement. “Making the Hall of Fame has long been considered the top individual honor that one can achieve in any sport, but for me, I feel it is a culmination of all the input and effort afforded me from so many other people over the years, that put me in this position today. It’s an exciting honor and a day I won’t soon forget.”

The Bulls have also led the NBA in attendance 10 times in the Reinsdorf era and have a sellout streak of 250 straight games.

Reinsdorf joins a Hall of Fame class that includes Allen Iverson, Tom Izzo, Shaquille O’Neil, Sheryl Swoopes, Darrel Garretson, John McLendon, Zelmo Beaty, Cumberland Posey and Yao Ming.

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The Naismith Hall of Fame induction will be held Dec. 21 from the site in Springfield, Massachusetts.