Sports betting company, DraftKings announced on September 2, 2020 that hall of fame legend, Michael Jordan, has taken the position of special advisor in its company.
The company reported that Jordan has taken equity interest in the company and would be providing ‘guidance and strategic advice on key business initiatives’.
Jordan’s special status as advisor to the board of sports betting company and as an investor has been made effective immediately following which the shares of DraftKings soared up high quite quickly. Faith of the investors has increased in the company as Jordan would be advising on ‘strategic and creative input’.
Jordan seems to be an appropriate choice of the company as the legend himself is known to be a notorious gambler. CNN reported that episode six of the ESPN channel’s documentary ‘The Last Dance’ highlighted some of Jordan’s more famous gambling stories. The episode included his trip to an Atlantic City and New Jersey, casino in the middle of the 1993 Eastern Conference Finals.
DraftKings had reported losses of nearly $68.9 million in May due to COVID-19 as all the sporting events came to halt and so did the betting. After the announcement of Jordan joining as investor and advisor shares of the company have more than tripled.
DraftKings founder and CEO Jason Robins stated that, “Michael Jordan is among the most important figures in sports and culture, who forever redefined the modern athlete and entrepreneur. The strategic counsel and business acumen Michael brings to our board is invaluable, and I am excited to have him join our team”.
Jordan advising the DraftKings board is the latest big move as the online gambling wars heat up among DraftKings, FanDuel and Penn National, reported Fox business news.