Michael Jordan joins DraftKings as adviser

Michael Jordan joined DraftKings in an advisory role, taking an equity stake in the sports-betting behemoth.

Michael Jordan
Jeremy Brevard-USA TODAY Sports

DraftKings stock surged early Tuesday as the company released details of the move in which Jordan will be “providing guidance and strategic advice to the board of directors on key business initiatives.”

Jordan, the primary owner of the Charlotte Hornets and recognized as one of the NBA’s greatest players of all-time, also addressed his interest in gambling when “The Last Dance” documentary on the 1990s Chicago Bulls aired in the spring.

“Michael Jordan is among the most important figures in sports and culture, who forever redefined the modern athlete and entrepreneur,” said Jason Robins, DraftKings co-founder and CEO. “The strategic counsel and business acumen Michael brings to our board is invaluable, and I am excited to have him join our team.”

–Field Level Media (@FieldLevelMedia)