Michael Jordan has joined sports gaming firm DraftKings as a special advisor to their board of directors. Jordan, who is also majority owner of the NBA’s Charlotte Hornets, will receive equity in DraftKings, which became publicly traded earlier this year.
DraftKings will look to Jordan for input on company strategy, marketing, equity and belonging, inclusion, product development and other initiatives, according to a press release. In 2015, Jordan invested in betting data distributor Sportradar, which maintains an existing partnership with DraftKings.
Notable shareholders in DraftKings include The Walt Disney Company, Major League Baseball, Dallas Cowboys owner Jerry Jones and New England Patriots owner Robert Kraft. The company’s stock rose as much as 12% on Wednesday upon news of Jordan’s new role.
