BREAKING NEWS
OK LogoNEWS

How Much Did Michael Jordan Lose in His Controversial Entertainment?

michael jordan pp

Jun. 7 2024, Published 1:48 a.m. ET

Link to FacebookShare to XShare to Email

Michael Jordan, who is now retired, remains one of the best players in the NBA and in basketball in general. Having won six NBA championships and six Finals MVP awards with the Chicago Bulls, he was able to dominate the league. Despite his huge success in sports, his involvement in the world of gambling has become the subject of numerous discussions and speculations.

In this text, you will find out in detail how much Michael Jordan lost in his scandalous entertainment. Besides, we will talk about how everyone found out about this and what the consequences were for the basketball star.

Article continues below advertisement

How Did the World Find Out That Michael Jordan Had an Addiction?

Bulls legend Michael was not just part of an era; at some point, he became an era himself. This man raised the interest in the NBA and basketball to the highest level. In his retirement, Michael Jordan still embodies the game's meaning and is a great role model. However, in reality, his figure is not as perfect as fans remember from the nineties. The focused and always smiling player had a serious problem with gambling.

Over time, many Bulls teammates told stories about how Michael always loved to debate. He believed that he had to win always and in everything, and being self-confident, he often liked to make bets. Sometimes, he would make his friends wager on whose luggage would be the first to appear on the baggage belt at the airport. Once, he even played ping-pong for money. There were 70 thousand dollars at stake, which Michael won, of course. However, in October 1992, The New York Times published an article that Jordan was being called to court for money laundering and drug trafficking.

What Was Actually Behind the Article from the New York Times?

In February 1993, Michael Jordan had to testify about a cheque for $57,000. The reason was that the police had arrested a local dealer, James Bowler, for drug trafficking and distribution. During a search of Bowler's apartment, the police found a cheque for a large sum written by Michael Jordan.

Naturally, this document was of interest to the police and the famous basketball player had to explain his involvement in the case. Initially, Michael Jordan tried to convince lawyers and the government that the funds were needed to build a new golf course, which he was so fond of. However, later he admitted that it was a gambling debt.

Article continues below advertisement

What Measures Did the NBA Take?

Article continues below advertisement
michael jordan
MORE ON:
NEWS
Article continues below advertisement

In 1993, a book by Richard Escuinas titled Michael and Me: My Cry for Help appeared in bookstores. The author told the shocking story that in 1991, Michael Jordan lost more than a million US dollars and refused to pay it back. This amount was later reduced to 300,000 dollars. In the same year, there was another article from The New York Times, which stated that Michael Jordan left a casino in Atlantic City, New Jersey, at 2:30 am. Unfortunately, there were no online gambling platforms such as NonGamStopBets casinos that aren’t on GamStop in the UK where it was possible to avoid public view at that time. This news became widely known and interesting for Michael's fans.

The NBA could no longer ignore the stories that spoiled the image of its main star and the league itself. That's why the National Basketball Association's commissioner at the time, David Stern, personally took on the investigation into the player's gambling addiction. First, the league representatives spoke to the author of the book, Richard Escuinas. He said that he heard Jordan on the phone with someone talking about a certain ‘line’. Later, it turned out that the discussion was about the casino because, during the conversation, Michael said, ‘So, does that mean we have a line? We have 7 points?’.

Article continues below advertisement

Consequences of the Investigation

Sports betting is completely prohibited for current NBA players. It allows the association to immediately kick a basketball player out of the league and terminate all contracts. It's still not clear for sure, but there are only suspicions that this factor was crucial in the basketball star's career. In 1993, Jordan unexpectedly announced that he was leaving the NBA and noted that this decision was due to a loss of motivation and the death of his father.

Article continues below advertisement

Confession of Addiction

In 2005, Michael Jordan spoke about his gambling problem on the evening show 60 Minutes. There, he admitted that he had done reckless things. However, he noted that he never endangered his life or his loved ones. Some sources claim that Michael lost millions of dollars in casinos as well as during private poker games. However, his financial stability was never in question. After becoming a global star, Jordan always received significant income from basketball, advertising contracts, and his business. Nevertheless, such a negative experience with gambling reminds us that even the most successful people can have their weaknesses and vulnerabilities, what was similar to the story of Stacey Goodwin.

Final Thoughts

Michael Jordan's gambling passion has become one of the most controversial stories of his life. However, he still managed to maintain his reputation as one of the greatest basketball players in history. In addition, he was even able to return to the league. This story as well as others from our celebrity news underscores the importance of financial discipline and responsible gambling, regardless of the level of success or income. Playing safely is the key to a happy life and an opportunity not to repeat the experience of a legendary athlete.

Advertisement

Want OK! each day? Sign up here!

More From OK! Magazine

    Opt-out of personalized ads

    © Copyright 2024 OK!™️. A DIVISION OF MYSTIFY ENTERTAINMENT NETWORK INC. OK! is a registered trademark. All rights reserved. Registration on or use of this site constitutes acceptance of our Terms of Service, Privacy Policy and Cookies Policy. People may receive compensation for some links to products and services. Offers may be subject to change without notice.