Well, no. Back in 1990, Harvey Gantt(D), asked Michael to endorse him, but he refused, famously stating, "Republicans buy shoes too."
In the case of Obama, I don't see why basketball players shouldn't endorse him, especially Jordan, now that he doesn't need any extra shoe money. Barrack's from Chicago, does an annual March Madness bracket, has super secret weekend pick-up games with his staff, coaches his daughters' rec league team, and even did a podcast with Bill Simmons.
It's safe to say, Obama's the biggest basketball fan to live in the White House. Jordan's the face of basketball, and a Democrat. It makes sense to me.
As for the celebrity basketball game, Rondo, Pierce, Melo, Ewing, Alonzo, and two WNBA stars, Sheryl Swoopes and Dawn Staley, will be participating too.