Michael Jordan once 'lost $500 million' in three seconds during NBA draft lottery

Michael Jordan effectively lost out on $500 million in the space of three seconds during last year's NBA Draft.

Jordan's franchise, the Charlotte Hornets, entered the draft lottery and were awarded the second pick.

The draft is made up of 30 different teams from across North America, with picks being either former professional players in other worldwide leagues or new players that haven't played in the NBA.

However, players must have been out of high school for a year and be 19 or older to be eligible.

The star name up for the draft last year was France's Victor Wembanyama, who stands at a staggering 7ft 4in and is now the joint-tallest active NBA player.

He led France to winning the silver medal in the men's basketball event at Paris 2024, with the side losing out to the United States in the final.

He was picked up by the San Antonio Spurs last year - with Jordan's Hornets missing out on him by a single pick.

ESPN claimed that Wembanyama would be worth $500 million to any NBA franchise's value - meaning it was a bitter blow for the Hornets to not secure their - and every other team's - prized target.

Speaking about the Frenchman back in February, basketball legend LeBron James claimed he could be one of the greatest players in the sport's history.

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He said: "He doesn't have a ceiling. He can do whatever he wants to do in his career.

"It seems like he enjoys the game. It seems like he puts the work in, just from the outside looking in.

"I said a long time ago how special he was, and it's really that simple.

"He has an unbelievable coach [Gregg Popovich] that's going to make sure that he does things the right way, play the game the right way.

"He's already special, but he's going to continue to get better and better and better each and every game."

Despite their successful pick in the 2023 NBA Draft, the Spurs had a nightmare season.

They lost 18 consecutive games between November and December, which was the longest losing streak in their history, and finished 14th in the Western Conference at season's end.