Michael Jordan has taken an equity stake in DraftKings and will also join the company as a board advisor.
The company didn’t specify the size of Jordan’s holding. His equity interest comes in exchange for “providing guidance and strategic advice to the board of directors on key business initiatives,” DraftKings said in a statement.
His status as a special adviser to DraftKings’ board of directors is effective immediately.
Jordan will specifically “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,” the company said.