Everybody knows who Michael Jordan is.

He's arguably the most famous athlete of all time, and he's officially the wealthiest as he recently became the first billionaire athlete.

The basketball megastar became the talk of the town when his docuseries 'The Last Dance' premiered on Netflix back in April.

The docuseries provide an in-depth, never-before-seen look into the 57-year-old's life during his heyday with the Chicago Bulls, as well as brought to light some of his personal problems, like his alleged gambling addiction.

A former teammate of his found out the hard way how high the stakes are when you bet with Michael Jordan.

High stakes shooting game

Never challenge the grandmaster.
As the story goes, Jordan was working out ahead of his return to the NBA with the Washington Wizards (Jordan retired in 1999 before attempting a comeback in 2001) when he came face-to-face with Chicago Bulls rookie Jamal Crawford.

Crawford made the mistake of challenging Jordan, who at the time was 38 years old, to a three-point shootout.

According to Fadeawayworld, the bet started small: it started off with USD1,000 (RM4,334), which Jordan won. Crawford then upped the bet to USD5,000 (RM21,670), which he won.

Putting his Ferrari on the line.
Not a fan of losing, Jordan then allegedly asked Crawford: “What car did you drive here with?”

The then 20-year-old Crawford told Jordan that he drove a Mercedes.

“I came with a Ferrari, let’s bet our cars,” Jordan reportedly said.

Jordan then went on to hit five out of five three pointers, removed Crawford's personalised number plate on the Mercedes and went home with the car.

However, neither Jordan or Crawford have come out to confirm nor deny the story, so it remains a rumour for now.

An awesome rumour, nonetheless.

But hey, if there's one lesson you can take away from this story, it's this: if you want to challenge someone, make sure you have the chops to back it up.