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Michael Jordan Takes Equity Stake, Adviser Role with Draft Kings



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Hall of Famer and legendary NBA player Michael Jordan has taken an equity stake in DraftKings in exchange for becoming a special adviser for the company, according to ESPN’s David Purdum.

Jordan is the chairman of Hornets Sports and Entertainment who owns the Charlotte Hornets, and he will now provide guidance and strategic advice to DraftKings’ board of directors.

“Michael Jordan is among the most important figures in sports and culture, who forever redefined the modern athlete and entrepreneur,” Jason Robins, CEO and co-founder of DraftKings, said in the release. “The strategic counsel and business acumen Michael brings to our board is invaluable, and I am excited to have him join our team.”

Anthony DiMoro is the creator of Sports Rants and the CEO of Elite Rank Media. He is a former Contributor for Forbes and the Huffington Post where he covered sports, social media, and SEO. Anthony formerly hosted the 'Forbes SportsMoney Podcast'.