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Julie Moraine September 3, 2020 3 min read
Michael Jordan Joins DraftKings Board as Special Advisor
The digital sports entertainment and gaming company, DraftKings welcomes the iconic basketball player Michael Jordan as a special advisor. The six-time NBA Finals MVP will be overseeing activities as a part of the board of directors and provide strategic guidance.
The Legend Michael Jordan Joins DraftKings’ Board of Directors as Advisor
Wednesday, September 2, DraftKings announced that Michael Jordan joined the company as a special advisor of the board of directors. The icon Jordan agreed to take an equity interest in the company and in exchange, he will be providing strategic advice and guidance to the board of directors. Jordan, the six-time NBA Finals MVP and Chairman of Hornets Sports & Entertainment and NBA Hall of Fame inductee will be overseeing key business initiatives by DraftKings.
Jason Robins, DraftKings co-founder, and CEO shared his excitement for the news. He said: “Michael Jordan is among the most important figures in sports and culture, who forever redefined the modern athlete and entrepreneur.” Robins said that he is excited to have Jordan join the board of members. He added that the iconic basketball player will bring “strategic counsel and business acumen”.
DraftKings added that Jordan will be providing strategic and creative input to the board. He will also liaise with the board directors on the company strategy, equity, and belonging as well as product development. Jordan will also oversee marketing and other key activities by DraftKings.
DraftKings Continues to Grow on the U.S. Market
The latest move by DraftKings can be labeled as strategic. As the company continues to expand on the U.S. market, having the iconic basketballer Michael Jordan as an advisor is undoubtedly a winning move. Here, we cannot miss saying that DraftKings also singed key partnerships over the last two months.
Back in July, the operator expanded its multi-year agreement with the PGA TOUR. With this deal, DraftKings became the first Official Betting Operator for the PGA TOUR. Under the agreement, DraftKings received rights to use trademarks and logos in the U.S. but also to advertise within media and partner platforms of the PGA TOUR.
On the other hand, in August, DraftKings opened its first retail sportsbook in New Hampshire. To facilitate the launch, the company teamed up with Eureka Casino’s The Brook on the border with Massachusetts.
Focusing on the financial results, DraftKings did exceptionally well, despite the market disruptions brought by the COVID-19 pandemic. The company’s financial report released in August outlined strong Q2 revenue, regardless of the limited sports events globally. Back then, DraftKings said that the company ended the second quarter of 2020 with more than $1.2 billion in cash on its balance sheets and no debt.