“Gambling Debt to $902,000”: Despite Michael Jordan’s Infamy for Huge Wagers, 1992 Dream Team Avoided Questioning Their Nature

The extent of Michael Jordan‘s global fame was revealed to Americans when the Chicago Bulls legend starred for Team USA in the Barcelona Olympics. However, Jordan’s reputation as an avid gambler followed his reputation as a basketball phenom like a shadow. Initially, it was just Page 3 news for NBA fans. However, by the time the Dream Team was assembled, it became somewhat of a concern in NBA circles. Despite the fact that MJ never missed practice or compromised his craft, he was often seen gambling through different means. However, his teammates never asked him anything about his vice, respecting his privacy. In Michael Jordan: The Life, Roland Lazenby goes into detail about Jordan’s gambling antics at this time. The book also shares details of the huge debt that Jordan accrued to his golfing partner Richard Esquinas.

Jordan wasn’t a violent or a rough man, but he had an intimidating aura surrounding him. Perhaps that’s one of the reasons why no one asked him about his massive wagers. Both Magic Johnson and Larry Bird, the two biggest superstars on the Dream Team apart from MJ, couldn’t bring up the topic in front of the Chicago Bulls legend.

Michael Jordan used breaks between team practice to gamble with Richard Esquinas

Roland Lazenby wrote in detail about Richard Esquinas and MJ’s gambling stint during the 90s. The book goes deep into MJ’s gambling habits during the 1992 Dream Team’s practice sessions in La Jolla, California. According to Lazenby’s account, Jordan used the time between practices to golf for money with Esquinas.

In totality, the six-time NBA champion owed his golfing partner $1.2 million. With time, he was able to reduce the amount to $902,000. After paying only $300,000, the Bulls legend would eventually use lawyers to keep Esquinas away from him. Here is what Lazenby wrote in his book:

“Jordan used the team’s training camp in La Jolla, California, to resume his golf challenge with Richard Esquinas. Playing between and around practices, he was able to reduce his gambling debt to $902,000. Esquinas would later tell the Los Angeles Times that Jordan’s Olympic teammates were aware that he was wagering. ‘But everybody knew not to come near the question of how much,’ Esquinas said.”

After the news of Jordan’s gambling problem spread like wildfire, it put him in a difficult situation. Despite the fact that his gambling never compromised his skills and mentality on the basketball court, Jordan had to clean his image. He sat for a taped interview on NBC and admitted that he in fact, had lost a substantial amount in gambling to Esquinas.

However, the five-time league MVP said that it was nowhere near the amount that Esquinas had claimed. Esquinas later presented the checks that Jordan gave him and his own tax returns to prove his point. He also added that despite their knowledge, none of the Dream Team members asked Jordan about the amount. 

Richard Esquinas knew the risk involved in forcing Jordan to pay the wager

Lazenby went deeper into the gambling saga that went on between MJ and Richard Esquinas. He wrote that Jordan once threatened to kill his golfing buddy instead of paying off his debt. After it had already been long since Jordan had not paid the wager, Esquinas began calling His Airness about the payment. However, he was taken aback when Michael jokingly said that he would shoot him instead of paying the money. “Rich, I just might as well shoot you as to give you a check for $1.2 million,” said MJ, according to Lazenby in Michael Jordan: The Life.

Esquinas later revealed that he played off the payment from Jordan because of the great risk involved. MJ was inarguably the most famous athlete in America at the time and it was plausible that that was too intimidating for his debt collector.