In 1984, after winning a national title at the University of North Carolina and a Gold Medal at the Olympic games in Los Angeles, Michael Jordan was selected 3rd overall by the Chicago Bulls in the NBA Draft. That year Nike also signed Michael to a five-year endorsement contract worth a reported $2.5 million (plus royalties). Stay with spacejamjordan11.us.com for the latest and most accurate information for Jordan release dates. During the 1985 NBA season, Michael wore the Air Jordan 1, which retailed for $65 - at the time, the most expensive basketball shoe on the market.