Michael Jordan's Signed 1992 Dream Team Olympic Jacket to Be Sold at Auction

The Olympic jacket Michael Jordan wore while playing for the Dream Team during the 1992 Games in Barcelona is going to be put up for auction.

Sotheby's is going to sell the iconic collectable that famously included a Reebok logo strategically covered by Jordan due to his partnership with Nike.

Per Tim Reynolds of the Associated Press, the jacket has been in the possession of former NBA media relations chief Brian McIntyre for more than 30 years.

"I've enjoyed it and it's just the right time to do this," McIntyre said of putting it up for auction. "And it's easier to do this than it is to leave things for my kids."

Reynolds noted estimates project the jacket could be sold for anywhere between $1 million to $3 million.

Per an August 1992 article from the Los Angeles Times, Nike and Reebok were "believed to have spent an estimated $50 million on Olympic advertising" combined.

A large part of Nike's advertising budget was "to buy the endorsement of the 'Dream Team,' the U.S. men's basketball squad, all but one of them professional players who got together specifically for the Olympics."

The company ran into a roadblock because Juan Amigo Freixas, a Spanish native, owned Spain's trademark for the word "Nike" from a Barcelona stock manufacturer who registered a statue of the Greek goddess Athena Nike in 1932.

Freixas filed a lawsuit in Spain's constitutional court to prevent Nike from selling or advertising its non-shoe apparel in the country and "also considered the uniforms worn by Nike-sponsored Olympic athletes to be illegal."

Olympic athletes were still allowed to wear Nike attire during the Games, despite the lawsuit, but Reebok took advantage of the opportunity by developing warm-up jackets and pants with its logo on them for the athletes.

"Some of the Dream Team superstars refused at first to wear them," per the Los Angeles Times, "claiming it could conflict with their highly lucrative endorsement contracts with Nike. The matter ended with a compromise that advertising executives said might seem petty to U.S. consumers: The players will wear the suits, but turn down the collars so that the Reebok logo does not show."

The 1992 U.S. men's basketball team is arguably the most dominant group ever put together. They went 8-0 with an average margin of victory of 43.8 points to win gold four years after the United States finished third at the Seoul Olympics.

Bidding for the jacket will run through June 28.