UPDATE: Nike has officially announced that it will be releasing 1,500 pairs of the NIKE MAG.

The NIKE MAG is no longer the 'greatest shoe never made.' The mythical shoes that originally captured the imagination of audiences in Back To The Future II is being released - and they're here to help create a future without Parkinson's disease, Nike wrote in a press release. The 2011 NIKE MAG shoe was designed to be a precise replica of the original from Back To The Future II. The aesthetic is an exact match, down to the contours of the upper, the glowing LED panel and the electroluminescent NIKE in the strap. The 2011 NIKE MAG illuminates with the pinch of the "ear" of the high top, glowing for five hours per charge"

These shoes will be auctioned off on EBAY Fashion Vault and proceeds will be donated to the Michael J. Fox Foundation.

Visit NIKEMEDIA.com for more details on the sale which will begin September 8th, at 8:30PM PST.