Michael Jordan Becomes Board Advisor for DraftKings
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On Wednesday, the greatest basketball player of all-time, Michael Jordan, became a special advisor on the board of DraftKings Sportsbook.
The NBA legend earned the special advisor role after purchasing equity in the company. DraftKings stock soared in pre-market trading Wednesday morning after the announcement was made.
Jordan’s role will “provide strategic and creative input to the board of directors on company strategy, product development, inclusion, equity, and belonging, marketing activities and other key initiatives,” DraftKings said in a press release.
DraftKings CEO Jason Robins believes this is a pivotal move made by his company with getting more sports ambassadors involved in the sports betting industry.
“Michael Jordan is among the most important figures in sports and culture, who forever redefined the modern athlete and entrepreneur,” Robins said. “The strategic counsel and business acumen Michael brings to our board are invaluable, and I am excited to have him join our team.”
DraftKings Growth
DraftKings is growing into a behemoth in the U.S. Originally, a daily fantasy sports company, they have expanded its footprint into sports betting. They are now operating in 10 states, with eight of them having mobile betting options.
They also took the company public earlier this Spring and has seen growth since. With an IPO of $19.35, has grown into a $13 billion market cap as of Wednesday. DraftKings is looking to become the U.S. sports betting leader and is currently in more states than any other sportsbook.
The sports betting operator out of Boston also has multiple daily fantasy sports and sports betting partnerships with professional teams across major U.S. sports like the MLB, NBA, and NFL.
Adding Michael Jordan as a special advisor is going to help DraftKings over the longterm. Jordan is chairman and majority owner of the Charlotte Hornets and will be able to help grow DraftKings into a major partner with the NBA and other NBA teams.
Even in the middle of a pandemic, DraftKings will have a stable long-term future as the world gets back to normal, and sports are on a regular schedule. More states will continue to legalize sports betting, and DraftKings will continue to be one of the first ones in the market.
A Gambling Legend
For anyone that has watched The Last Dance on ESPN back in late April and early May, there were a few episodes that talked about Michael Jordan’s gambling prowess.
.@McNeil_Parkins asked Jeremy Roenick for his best Michael Jordan story. It was incredible.
It involved golf, beers and basketball. (We can't verify that every detail lines up, but that's not what we're here for. This is about MJ's greatness.)
Podcasts: https://t.co/k7yHNc6btN pic.twitter.com/2myY2M1EYw
— 670 The Score (@670TheScore) November 8, 2019
Even in the documentary, Jordan was interviewed by Bob Costas about his gambling, and he said that he enjoys it and its a hobby. His main problem was that he had a “competition problem”.
The move for Jordan to enter the sports betting industry as an advisor to DraftKings is the right one to make. Jordan will be able to help the DraftKings brand by expanding to NBA and sports betting fans across the U.S.
He could have his own Jordan promotions DraftKings user can take advantage of. Regardless, Jordan is now going to be able to turn his “hobby” into a profit, and he has partnered up with the right sports betting operator.
