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The shoes, worn by one of basketball's greatest players in the clinching games of his six career NBA Finals championships, became the second highest price achieved for Michael Jordan sports memorabilia.
Wallace became the first Black driver to win a race in NASCAR's premier series since Wendell Scott in 1963.
Jordan's agent Falk gave an insight into the NBA legend's picky nature and stated he isn't just motivated by money.
The development comes following the death of George Floyd, an African-American who died in police custody in the US, causing a nationwide protest.
The sneakers were a pair of Nike Air Jordan 1 Highs, described as the "rarest of the rare", and were used by the Chicago Bulls star in an exhibition game in 1985.
Wallace, the only Black driver at NASCAR's top level, was thrust into the spotlight this year when his calls for NASCAR to ban the Confederate flag at all events was ultimately adopted.
It all started with an ESPNcricinfo poll on Twitter where the cricket website paired 20 top players -- former and current -- with each other and asked fans to pick one contest they would love to watch.
Results 1-7
