The U.S. flag draped over one shoulder to cover the Reebok logo during the Olympic gold medal ceremony in Barcelona '92 was Michael Jordan's bold stand in solidarity with his longtime sponsor, Nike. This iconic gesture for the unforgettable Dream Team has continued to resonate. That flag fetched $1.8 million this week at a New York auction.

Over 21 years after retiring from basketball, Jordan remains a lucrative figure. Sotheby's concluded the auction of 'Colossal - The Ultimate Jordan Collection' this week. Alongside the 'flag of discord,' the collection included Chicago Bulls jerseys worn by Jordan in the 80s and 90s, collectively fetching $8.5 million.

'MJ', along with Magic Johnson, Scottie Pippen, Larry Bird, Karl Malone, Charles Barkley, John Stockton are just some of the names from the dominant Barcelona '92 Dream Team. The team triumphed in the Olympic tournament by an average margin of over 43 points. Reebok paid millions to outfit the U.S. stars, creating a conflict of interest for many players who had lucrative endorsement deals with other brands.

Players were instructed to display the Reebok logo during the gold medal ceremony. Jordan took it personally and chose to cover the logo by wearing a U.S. flag on his right shoulder as he went to receive the gold. The image went viral and became a symbol of Jordan's defiance.

The Bulls star, who would later secure a golden era in Chicago with six NBA championships, showed his allegiance to Nike throughout his career. He wasn't the only Dream Team member to take a stand—photos from the ceremony show several teammates wearing their jackets open to obscure the Reebok logo.

The U.S. flag used by Jordan, authenticated by MeiGrade System, gained additional value from being signed by several Dream Team stars. Its price surged in the last 24 hours of the Sotheby's auction, jumping from $600,000 to the final hammer price of $1.8 million.