DraftKings has appointed Michael Jordan, world basketball star and principal owner of Charlotte Hornets, as a special advisor to the company’s board of directors with immediate effect.
The nominated NBA Hall of Fame, six times the NBA Finals MVP and president of Hornets Sports & Entertainment has reached an agreement to have a stake in the sports betting operator.
In return, he will provide strategic guidance and advice to the board of directors on the main business initiatives undertaken by the technology and sports entertainment company, which went public earlier this year.
DraftKings co-founder and CEO Jason Robins commented: “Michael Jordan is among the most important figures in sport and culture, who have forever redefined the modern athlete and entrepreneur. The strategic advice and business skills that Michael brings to our board are invaluable and I am excited to have him on our team. ”
As a special advisor, Jordan will provide strategic and creative contributions to the board of directors, product development, diversity, equity and ownership, marketing activities and other important initiatives.
The news of Jordan’s appointment had an immediate and positive effect on DraftKings’ shares, as the company’s share price rose 13% to $ 41.86 in the pre-market.
About DraftKings
After merging with Diamond Eagle Acquisition Corp and SBTech, a betting and gaming technology company has become one of the world’s leading companies in the industry. Thus, the company has a market capitalization of US $ 11.4 billion.
In addition, the company added the NBA to its sponsorship portfolio last November. Other partnerships include the National Football League, the PGA Tour and Major League Baseball (MLB).
