Legendary basketball icon Michael Jordan is set to take an equity interest in DraftKings in lieu of becoming a special advisor to the operator’s board of directors.
Jordan, in his new role, will impart strategic advice and guidance on key business initiatives such as product development, company strategy, equity and belonging, and marketing to the operator’s board.
Jordan is currently the chairman of Hornets Sports and Entertainment, which owns the NBA franchise for the Charlotte Hornets. He is a National Basketball Association Hall of Fame inductee, and a six-time NBA Finals Most Valuable Player (MVP).
It was not disclosed as to how much Jordan’s equity interest in DraftKings was.
“Michael Jordan is among the most important figures in sports and culture, who forever redefined the modern athlete and entrepreneur,” Jason Robins, DraftKings co-founder and chief executive, said.