Michael Jordan takes equity interest in DraftKings

Basketball icon Michael Jordan is to take an equity interest in DraftKings, in exchange for becoming a special advisor to the operator’s board of directors.

In his new role, Jordan will provide guidance and strategic advice to DraftKings’ board on key business initiatives such as company strategy, product development, diversity, equity and belonging, and marketing.

Jordan, an National Basketball Association Hall of Fame inductee, and six-time NBA Finals Most Valuable Player, is also currently chairman of Hornets Sports & Entertainment, which owns the Charlotte Hornets NBA franchise.

The value of Jordan’s equity interest in DraftKings was not disclosed.

“Michael Jordan is among the most important figures in sports and culture, who forever redefined the modern athlete and entrepreneur,” DraftKings co-founder and chief executive, Jason Robins, said.

Read the full story on iGB North America.