Michael Jordan to be special adviser to DraftKings board of directors
The NBA legend will provide 'strategic and creative input' to the board
Barstool Sports president and founder Dave Portnoy responds to NBA superstar Michael Jordan getting an equity stake in DraftKings, saying Jordan is a 'notorious gambler' and he doesn't know how this helps the company long-term.
Michael Jordan partnered with DraftKings to become a special adviser to its board of directors, the company announced Wednesday.
DraftKings said in a news release that the Chicago Bulls legend and current owner of the Charlotte Hornets will provide “strategic and creative input” to the board on “strategy, product development, diversity, equity and belonging, marketing activities and other key initiatives.”
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“Michael Jordan is among the most important figures in sports and culture, who forever redefined the modern athlete and entrepreneur,” DraftKings founder and CEO Jason Robins said in the news release. “The strategic counsel and business acumen Michael brings to our board is invaluable, and I am excited to have him join our team.”
Sports gambling platforms like DraftKings are surging as major sports are making a comeback from the pandemic. FOX Business' Susan Li with more.
DraftKings was higher by more than 7% in the opening minutes of trading.
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| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| DKNG | DRAFTKINGS INC. | 35.69 | 0.00 | 0.00% |
An NBA spokesperson said in a statement: "NBA team investors, including governors, are permitted to have involvement with sports betting & fantasy sports businesses, subject to safeguards required under league rules to prevent actual or perceived conflicts of interest."
Sports betting is legal in North Carolina but the locations are only limited to two tribal casinos. According to the DraftKings website, their sportsbook is only limited to eight states in the U.S. North Carolina is not one of them. Fans can play their daily fantasy sports games in the state.
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Jordan advising the DraftKings board is the latest big move as the online gambling wars heat up among DraftKings, FanDuel and Penn National.
Fox Business' Jonathan Garber contributed to this report.