Man made million dollar shot during basketball game only for company to decide not to pay him

A seemingly impossible shot, yet one man made it and won $1 million - only for the company that made the bet to back out.

On April 14, 1993, Don Calhoun made NBA history. During a timeout in the third quarter of a Chicago Bulls-Miami Heat game, he took to the court and went head-to-head with the basketball net, all in the name of a $1 million bet.

Prepare to gawp:

The shot was part of a promotion that offered $1 million to any fan who could make a 80-foot shot through the basket from the free-throw line at the opposite end of the basketball court.

The Chicago Bulls had held the promotion 19 times that year so far, and no one had even come close.

Yet when Calhoun took the court, everything changed.

He made the shot - and immaculate fashion - immediately jumping up and down celebrating - as most of us would should we make such a legendary shot but also believe we'd just won $1 million.

The odds of Calhoun actually making the shot were less than one percent, which is why everyone at Chicago Stadium celebrated - including NBA legend Michael Jordan - as they had just watched history unfold before their eyes.

Calhoun’s face was printed in newspapers and news stations broadcasting the clip so much that Calhoun became a star, and the shot became known as The Calhoun Shot and Immaculate Connection.

Alas, it would all prove too good to be true.

The insurance company required to pay Calhoun his well-deserved cash, American Hole 'N One Inc, void the payment.

It's argument? Calhoun had played college basketball - a supposed violation of the rules.

A more than just frustrating case of reading the fine print, the stipulation was that contestants couldn't have played in an ‘organised’ version of the sport in question before the contest.

ABC7 Chicago reported at the time that it’s not unusual for franchises to end up paying contestants themselves if there are any issues.

And thankfully. that's ultimately what ended up happening to Calhoun.

The sponsors of the event, Coca-Cola, the Lettuce Entertain You restaurant, and the Bulls, pledged to cover the prize if the insurance company would not.

As a result, Calhoun got $50,000 a year over the next 20 years. He kept his office supplies salesman job and received $38,000 each year after taxes until 2013.

"In reality, you're not rich," he told ABC7 Chicago. "You're not a millionaire."

As of 2023, the ball used to make the shot was in the possession of Calhoun’s son.