The 1992 Summer Olympics “Dream Team” Reebok jacket worn by Michael Jordan to accept the gold medal in Barcelona hits the auction block Thursday at Sotheby’s, where it’s expected to fetch as much as US$3 million.
The uniform, consigned by former longtime NBA media relations chief Brian McIntyre, has never been up for auction before, according to the auction house’s news release.
The online single-lot sale begins at noon Thursday and closes at 7 p.m. on June 28.
The Reebok jacket’s history extends beyond being linked to a gold medal championship that boosted the reach and popularity of basketball. Jordan, who had a longtime business relationship with Reebok competitor Nike, rejected the jacket but was obligated to be pictured in it on the podium.
For the medal ceremony, Jordan draped an American flag over his right shoulder to cover the Reebok logo.
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The incident means the jacket is “also potentially the most controversial within the parameters of Jordan’s storied career,” Sotheby’s said.
The story of the jacket was widely reported by news outlets following the Dream Team’s gold rush. The 2020 TV miniseries The Last Dance also covered the events.
In 1992, “Jordan was the face of Nike, but Reebok was the Olympic medal stand uniform outfitter,” Forbes said in 2012.
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Beyond its legendary place in Olympic history, the jacket represents Jordan’s fierce loyalty to Nike, a transformative and revolutionary partnership, according to Brahm Wachter, Sotheby’s head of streetwear and modern collectibles.
“The complexity and the controversy attached to the jacket is partially what makes it so special,” Wachter says.
McIntyre received it as a gift “immediately after the 1992 ceremony, when Jordan tossed his jacket to him, professing, ‘I certainly don’t want it,’” according to Sotheby’s.
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An inscription—“To Brian thanks for everything Michael Jordan”—is prominent on the jacket.
McIntyre reached out to Sotheby’s to handle the sale, Wachter says.
In April, Jordan’s 1998 NBA Finals Game 2 Air Jordan 13s from the “Last Dance” season sold at Sotheby’s for a record US$2.2 million. Last year, the auction giant sold Jordan’s 1998 NBA Finals Game 1 jersey for US$10.1 million, a record for game-worn collectibles.
The record-setting auction prices for items worn by Jordan reflects a trend. Wachter says the overall market for top-level sports memorabilia is “really strong.”