The New England Patriots will pay $10.75 million for a jersey featuring the names of Jimmy Butler and the Chicago Bulls.
Sources familiar with the deal told The Associated Press on Monday that the jersey will be auctioned off in January, with the highest bid receiving $2 million.
The jersey will have the names “Jimmy Butler” and the initials “JBC” embossed on it, along with the number “12.”
The jerseys will also include the names and number of Butler’s sons.
The contract was announced in October when Butler signed a five-year, $42 million deal with the Bulls, the largest contract in NBA history.
The Bulls will wear the jersey in games against the Atlanta Hawks on Jan. 20 and New York Knicks on Jan 1.
The price tag for the jersey could be in the neighborhood of $15 million, sources said.
The $12 million price tag is the highest price paid for a single jersey of a player whose name has been included on a team jersey, the league’s revenue-sharing rules state.
The NBA’s revenue sharing rules are set to expire on July 1, 2019.