Here's the first hand account from Espn
So Rogers again hurtles left and, nearing the hoop, jumps off both feet. Jordan, clearly into it now, times his leap to swallow up the shot. Only Rogers, in a move he's practiced a thousand times but that still appears impossibly awkward, leans away from MJ as if eluding the curl of a crashing wave. He spins the ball up, up, up and over Jordan's fingertips, off the glass and in. On the video the first thing you hear is Jordan ("Oh, no!"), followed by comedian and camper Damon Wayans, who jumps at the chance to mock MJ. (Lest you think Jordan had lost his edge, he immediately brought Wayans onto the court and humiliated him 3-0.)
Naturally, Jordan demanded a rematch with Rogers, right? Actually, he didn't. Instead he hugged Rogers -- the two go back a ways from Jordan's days in Chicago -- and said, not so huggably, "Next time we're on the court together, I'll show you what it's like to play in the NBA." But that has yet to happen. Rogers hasn't been back to Flight School, and MJ stopped playing campers a few years ago. As for Rogers, he had DVDs made from the tape and dispensed them to friends and employees, because, well, wouldn't you?
If you see the video you know Michael Jordan didn't take it seriously. Can an amateur basketball player beat a professional one? Not just a professional one but is considered the Greatest Ever? Seriously, I can't believe some people bought this... lol.
The aging Michael Jordan took a jumper against Shawn Marion few months earlier in the 2003 All-Star Game to take two point lead and almost won the game for the East but one of his team mates committed a useless foul that sent the game into overtime. Michael Jordan didn't take this one-on-one match seriously. Let the executive have his day. Michael Jordan is a nice guy indeed.