When Nike's star Michael Jordan received his gold medal on the podium at the 1992 Olympic Games, he sported the logo of his sponsor's biggest rival, Reebok.  

Michael Jordan has worked with many companies over the years of his success, but the man described by the NBA as “the greatest basketball player of all time” is closely associated with just one company: Nike.

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The two have been a marketing symbiosis for almost four decades. Since signing Jordan, Nike's stock market value has risen from around 300 million dollars to more than 160 billion dollars today. The deal has also made Jordan a billionaire; in 2022 alone, he earned 256 million dollars through his partnership.

And perhaps no “item” shows the basketball legend's appreciation for the company, which gave him a chance as a third-round draft pick and made him as rich as the jacket Jordan wore at the end of the dream team's remarkable championship at the 1992 Olympics — a jacket that is currently being auctioned off at Sotheby's.

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The relationship between Nike and Jordan dates back to 1984, when the NBA newcomer signed with the Portland, Oregon-based shoe brand and, as a result of his college successes, received a breathtaking advertising contract of five years and 2.5 million dollars.

This partnership was recently launched in the film "Air", which stars Matt Damon and Ben Affleck portraying fictionalized versions of the main characters.

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Not only did Jordan get the shoes that would elevate him above his teammates and rivals in thousands of dunks, but Nike also turned Nike from a supplier of running shoes into a cultural force that became omnipresent in the world of fashion and sports.

In 1992, Jordan was at the height of his skill as a player when he and the rest of the Dream Team — a team of NBA stars hired by the United States to put the rest of the world in place at the Summer Olympics in Barcelona — impressed and enthralled audiences around the world as they dominated the court.

In addition to Jordan, the team included incomparable talents such as Larry Bird, Magic Johnson, and Charles Barkley. They defeated all opponents, won every game with an average of 44 points and thus pushed the importance of basketball all over the world.

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At the medal ceremony, however, Jordan was in an awkward position: The Olympic Committee of the USA explained to him that he had to receive his gold medal in a jacket emblazoned with the logo of Nike's rival Reebok, a brand that had been associated with the Swoosh fought for dominance on the sports shoe market:

“They said if we don't wear our official uniforms, we can't accept our gold medal,” Jordan said at the time, as it can be seen in the ESPN documentary The Last Dance (streaming on Netflix).

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He was also told that the US Committee would find a way to hide the logo, but Jordan didn't want to leave this matter to others: “...they can’t hide it like I’m gonna hide it...”.

To avoid being seen wearing the Reebok logo, Jordan took an example from American politicians and wrapped himself with the US flag. Jordan pulled the stars and stripes over him from front to back, thus obscuring the logo of his sponsor's rival.

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After the medal ceremony, Jordan quickly removed the jacket and handed it over to Brian McIntyre, an NBA public relations member who stood by the Dream Team.

McIntyre tried to return the jacket to Jordan two years later, but the basketball legend — in the midst of his short-lived move to baseball back then — signed it with a personal dedication and returned it.

“To Brian, thanks for everything,” is written on the left chest of the jacket, followed by the most famous signature in the world of basketball.

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This Reebok Dream Team jacket worn by Michael Jordan can currently be worn at Sotheby's auction house be auctioned off. The price is currently 750,000 USD and the auction will run until June 29.

Update: The jacket finally sold for $1.512 million USD.

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Photos via Sotheby's, Netflix (Andrew D. Bernstein, Brian Drake), IMAGO/WEREK