Michael Jordan, former professional basketball player and principal owner of the Charlotte Hornets, has been named by DraftKings as a special advisor to the board of directors of the firm with immediate effect.
The inductee of the NBA Hall of Fame, six-time NBA Finals MVP and Hornets Sports & Entertainment Chairman has decided to take an equity interest in the sportsbook operator.
In return, he will provide the board of directors with guidance and strategic advice on key business projects pursued by the sports technology and entertainment corporation that had gone public earlier this year.
Jason Robins, CEO and Co-founder of DraftKings, commented: “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.”
As a special advisor, Jordan will provide the board of directors with strategic and innovative guidance on company policy, product growth, diversity, equity and belonging, marketing strategies and other key initiatives.
News of the appointment of Jordan had an immediate and positive impact on the stock of DraftKings as the share price of the company jumped 13 percent during pre-market trading.