Basketball legend Michael Jordan is taking an equity stake in DraftKings and joining the board of the fantasy sports and gambling company.
The six-time NBA champion- known for his soaring slam dunks - led the Chicago Bulls’s dynasty in the 1990s. He is a member of basketball’s Hall of Fame and currently owns the Charlotte Hornets.
Jordan has agreed to take an undisclosed equity interest in DraftKings and will provide strategic and creative advice on areas including product development and marketing.
Jordan will be joining a company that made a bold bet to go public in April even though the pandemic had frozen the sports calendar.
Its high-flying shares jumped Wednesday on news of Jordan’s investment.