It's too expensive to add his likeness in a game. Because he was retired, they felt that it wasn't worth the money to bring him back. Instead they replace his character with a player called "Player". He's brought back in the from 2000-2003 after he came out of retirement.
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No he hasn't been retired long enough. You have to be retired 5 years, and Jordan played his last NBA game on April 16, 2003 when he scored 15 points against Philadelphia in a losing cause.
Jordan has now been inducted into the Hall of Fame. More info at the link below.
Michael Jordan is not in recent Video Games because Michael Jordan wants the video game company to pay him more money that they don't want to pay. This is the same with Charles Barkley.
i think it was that he wanted to be payed for it and the company wouldn't pay him that's what i think but im not really sure