Led by Michael Jordan, the team achieved an average margin of victory of 43.8 points and cruised to a gold medal, finishing the Olympic Games with an 8-0 record.

 

They will now be inducted into the Hall of Fame at banquet-style induction ceremony at McCormick Place in Chicago on August 12, which is due to be televised coast-to-coast on NBC on September 5.

 

The ceremony will also serve as a final fundraiser for Chicago's organising committee's bid to bring the 2016 Olympic and Paralympic Games to the city.

 

Chicago are currrently the favourites to win the vote ahead of its rivals Madrid, Rio de Janeiro and Tokyo when the International Olympic Committee (IOC) announces its decision at its Session on October 2.

 

Jordan, who led the Bulls to six NBA titles, is expected to be one of the leading members of Chicago's delegation when it travels for the vote in Copenhagen.

 

Traditionally composed of amateur players, a 1989 rule change by world governing body FIBA allowed USA Basketball to field teams with professional players and they picked a squad full of players from the NBA, the sport's richest and best league.

 

Tom Wilson, the chairman, President and chief executive of Allstate, the presenting sponsor of the US Olympic Hall of Fame, said: "Olympians are champions, role models and leaders that inspire us to pursue our passions.

 

"The Class of 2009 continues this tradition and embodies the commitment to excellence and drive to succeed.

 

"They make us proud to be Americans. Allstate is proud to honor them as members of the US Olympic Hall of Fame."

 

In addition to the Dream Team, the star-studded inductee list includes Michael Johnson, winner of four Olympic gold medals, including becoming the first man to claim both the 200 and 400 metres at the same Games when he won in Atlanta in 1996, and swimmer Mary T. Meagher, winner of three gold medals at the 1984 Olympics in Los Angeles.