In 1992, Michael Jordan and the Dream Team created waves at the Barcelona Olympics. The USA Men’s Basketball Team, featuring the best hoopers in the world, ran laps around the other teams in the competition to win the Gold medal. After defeating Croatia in the Gold Medal game, MJ stood atop the podium and covered his Reebok jersey with a USA Flag. The other athletes signed with Nike did the same. But that very jersey has fetched some big bucks in a recent auction.
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As per reports, Karl Malone recently sold all 12 of his Dream Team teammates’ game-worn jerseys from the 1992 games. Quite unsurprisingly, Jordan’s jersey fetched the most, a staggering $3.03 million.
The Goldin Auctions collection also included other athletes’ jerseys from the Dream Team. Here are the prices they sold for: Larry Bird ($360,000), Magic Johnson ($336,000), Charles Barkley ($230,400), David Robinson ($116,400), Clyde Drexler ($91,200), Scottie Pippen ($80,400), Malone ($58,800), John Stockton ($55,200), and Patrick Ewing ($39,600), among others.
The historic jerseys are finally being auctioned after 31 years. Jordan’s decision to cover the Reebok logo on his jersey was a perfect opportunity for marketing his partnership with Nike and to throw shade at Reebok.
Reebok had made it clear that their logo should be visible during the medal distribution ceremony. However, Jordan and his teammates used the American flag to hide the logo. A masterful move that completely outsmarted the folks at Reebok.
Jordan’s exploits, legacy, and fame have helped to make his memorabilia some of the most valuable in the world. In 2013, his game-worn jersey from the 1986 NBA Finals sold for $1.2 million.
The timing of the auction is perfect as well. Paris will host the 2024 Summer Olympics, generating significant excitement around the event. This is a great opportunity for collectors to acquire a piece of history from one of the greatest Olympic basketball teams of all time.
The Soaring Value of MJ Memorabilia
Jordan wore the Dream Team jersey in final game of the tournament, a 117-85 victory over Croatia. He scored 25 points in the game.
It’s clear that MJ’s fans are willing to pay the top dollar for anything that he has touched.
“This is the most iconic jersey in basketball history,” said Ken Goldin, founder of Goldin Auctions. “It’s the jersey that Michael Jordan wore when he cemented his status as the greatest basketball player of all time.”
The jersey, being a piece of history, is destined to be cherished by its new owner.
