Michael Jordan once gave his $331,000 Ferrari to NBA legend as Christmas present after receiving special gift

Michael Jordan once gifted his red Ferrari to a teammate after receiving a special present himself.

The six-time NBA champion has had an incredible car collection over the years, including a slew of rare and bespoke vehicles.

He also had a Ferrari 550 Maranello, valued at $170,000 (£136,150) but worth around £264,942 in modern money with inflation taking into account.

But 27 years ago, Jordan decided to hand it over to his Chicago Bulls colleague Scottie Pippen, who had admired the supercar for a long time.

The dynamic duo led the Bulls to two different three-peats in the 1990 and to mark the fifth triumph in 1997, Pippen got Jordan a custom earring in the style of the Larry O'Brien Championship Trophy.

Jordan was initially set to give a box of cigars but Pippen's present prompted a change of plan and he proceeded to give his best ever teammate the Ferrari.

"For the Christmas of '97, Pippen had an earring made for Jordan - a diamond-encrusted replica of the NBA championship trophy," Chicago reporter Melissa Isaacson wrote in a 2010 column for ESPN.

"Jordan, who had planned to give Pippen a box of cigars, reconsidered and instead gave him his red Ferrari, which Pippen had long admired.

“'He wanted it so bad,' said Jordan. ‘It wasn't a double locker, but it would do.’"

Michael Jordan gave his Ferrari to Scottie Pippen. Image: Getty

According to Forbes, Jordan has a staggering net worth of $3 billion courtesy of his on-court earnings, game-changing Nike arrangement and various investments.

But he has always remained generous and back in 2001, he is reported to have given away an entire year's salary when he returned to the court with the Washington Wizards.

He pledged to give his pay packet away to victims of the September 11 terrorist attacks which had just happened two weeks prior to him coming out of retirement.

According to a CNN report, Jordan donated $100,000 to the children who lost their parents in the 11 September terrorist attack on the Pentagon.

He then pledged to give away the rest of his salary to organisations set up to help victims of 9/11.

Jordan played for the Wizards for two seasons and finally hung up his sneakers at the end of 2002/03 aged 41 after averaging 20 points per game.