Man who made million dollar shot during basketball game had to wait two decades for all of the money

A basketball fan who made a million-dollar shot nearly didn't get paid the money by the insurance company.

It was in the timeout in the third quarter of the game when Calhoun took to the court to take part in the challenge.

According to ESPN, the 23-year-old had a one percent chance of getting the ball in.

Lobbing it with one hand, the ball rose up into the air, soared across the court and fell right through the hoop.

And the crowd went absolutely wild.

Jordan told the 23-year-old: "Great shot, kid."

Bulls forward Horace Grant also said: "It took me three years to make a million and it took him five seconds."

It argued because Calhoun played basketball in college, he had broken the rules and shouldn't have been given the opportunity to step onto the court in the first place.

The sponsors of the event - including Coca-Cola and the Bulls - said they'd step up and cover the prize money if the insurance company wouldn't.

Thankfully, the insurance company later agreed to pay Calhoun, but instead of giving him the $1 million upfront, it said it would pay him $50,000 a year over two decades.

This $50,000 was taxed and subsequently Calhoun actually took home $38,000 every year.

2013 marked the last payment of the million-dollar bet, and so Calhoun should have accumulated a total of around $760,000.