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BA legend and Charlotte Hornets owner Michael Jordan is joining DraftKings as a special advisor to the board of directors.
“Michael Jordan is among the most important figures in sports and culture, who forever redefined the modern athlete and entrepreneur,” DraftKings CEO Jason Robins said in a press release. “The strategic counsel and business acumen Michael brings to our board is invaluable, and I am excited to have him join our team.”
Jordan Gets Equity in DraftKings
As part of the agreement, Jordan will receive equity in the company.
NBA legend Michael Jordan joining @DraftKings as a special adviser to the company’s board of directors, per release. Jordan will provide guidance and strategic advice to the board of directors.
Michael Jordan will take an equity stake in DraftKings in exchange for providing guidance and strategic advice to the company’s board of directors.
Jordan will provide insight and expertise on sports business strategy, product development, diversity, equity, and belonging, marketing activities, and other key initiatives, per DraftKings’ press release.
Jordan is not the only NBA owner to have ties to gambling ventures. Rockets owner Tilman Fertitta owns Golden Nugget Casinos, which have sportsbooks inside (they can not take action on the NBA), and Boston’s ownership group also owns Caesars Entertainment, though their books are not allowed to take action on the Celtics.
DraftKings stock soared prior to the market opening on Wednesday morning, as CNBC relayed. Shares jumped 13% in premarket trading as the news was released.
Not everyone was optimistic about the pairing. Barstool Sports owner Dave Portnoy, who sold 33% of his company to Penn National Gaming earlier in 2020, made headlines for taking a dig at Jordan.
Stories of Jordan’s gambling history continue to make rounds to this day, including a conspiracy theory that No. 23’s retirement in 1993 was tied to gambling exploits, as Matt Moore of The Action Network explained while compiling stories on his Airness.
Hornets Have Major Decision at No. 3 in NBA Draft
Jordan and his team will have a major decision to make with their No. 3 pick in the upcoming draft. Let’s take a look at some of the projected top picks:
G Anthony Edwards, Georgia – Edwards has the ability to be a face of a franchise, though his inconsistency leaves much to be desired. He’s an offensive maestro, though if he doesn’t develop into a superstar, he’ll have to change his game up to fit into a NBA system.
C James Wiseman, Memphis – Does Wiseman like basketball? Does he understand where to be on the floor? Will he dial in and work on his efficiency woes? These are the questions surrounding the 19-year-old center who otherwise looks the part of a No. 1 overall pick.
G LaMelo Ball, Illawarra – Ball didn’t take the traditional route for top prospects entering the draft; he opted to play in Australia. Regardless, he’s in the mix for the top overall selection. ESPN’s Jonathan Givony has the Wolves taking Ball in his latest mock draft. Not sure that a backcourt of Ball and Russell works defensively, but it would certainly
Obi Toppin, Dayton – Toppin is a polished 22-year-old prospected who should be able to contribute right away, especially on the offensive end. What is his ceiling? Some teams concerned about that may pass on him. He’s no LeBron James but he could help out nearly every club.
Deni Avdija, Maccabi Tel Aviv – Avdija is a 6-8 wing with point guard play-making skills. He’d fit seamlessly in any offense as he can contribute with or without the ball.
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Details on Michael Jordan’s Agreement to Join DraftKings