A piece of memorabilia from the best player on the best basketball team ever assembled has hit auction.
Sotheby's is auctioning off Michael Jordan's jacket from the gold medal ceremony at the 1992 Barcelona Olympics.
At the time of writing, there is one bid for $750,000. Sotheby's estimates that the jacket will fetch between $1-3 million and the auction will run through June 28.
Jordan wore the jacket on the medal stand after the Dream Team completed an undefeated run through the Olympic men's basketball tournament, but not without controversy. Jordan was in his first decade as a Nike athlete, but the jacket was manufactured by Reebok. Instead of giving the rival company any additional spotlight, Jordan draped an American flag over his shoulder to cover the Reebok logo.
Brian McIntyre, who used to work in the NBA's communications department before becoming an advisor for league commissioner David Stern, has been in possession of the jacket from the moment Jordan took it off. He says Jordan shed the jacket once he stepped off the medal stand and tossed it to him.
"[Jordan] said, ‘I certainly don’t want it,’” McIntyre told The Associated Press.
McIntyre said that Jordan has been made aware that the jacket, which includes a personalized message from Jordan, is up for auction.
NBA
Jordan memorabilia has sold for eye-popping figures over the last year. Last September, his game-worn jersey from Game 1 of the 1998 NBA Finals sold for a record-breaking $10.091 million. Last month, a pair of Jordan 13s he wore during the same series sold for $2.2 million, becoming the most expensive shoes ever sold.