Michael Jordan joins DraftKings as Special Adviser

Simona Boshkova | Published 3 Sep 2020, 9:51 a.m.

There have been plenty of initiatives and new launches when it comes to the gambling situation in the United States. Lately, the daily fantasy sports have been in the spotlight of the US gambling market and some of the most popular daily fantasy sports operators have come up with new announcements. For that reason, they might be subject to a federal tax on their entry fees.

DraftKings is one of the most popular daily fantasy sports operators in the US. Last month, the operator announced that it has teamed up with the New Hampshire Lottery to launch a new sportsbook at The Brook Casino Resort. Now, the DraftKings’ board of directors will welcome a new member, and not just anyone, but it will be the famous basketball player Michael Jordan.

The basketball legend took an equity interest in DraftKings

Basketball icon Michael Jordan, the owner of the NBA’s Charlotte Hornets, is joining DraftKings as a special adviser to the company’s board of directors. It was announced on Wednesday by DraftKings confirming that Jordan has agreed to take an equity interest in DraftKings in exchange for providing guidance and strategic advice to the board of directors. Jordan has not yet publicly commented on the announcement.

According to DraftKings, this is an excellent opportunity for the operator, given the fact that Michael Jordan is among the most important figures in sport and has been acclaimed as the greatest basketball player of all time. Therefore, he would bring invaluable knowledge to the table. Jason Robins, DraftKings CEO and co-founder, said that he is excited to have Jordan join their team and his position with the company is effective immediately.

In his new role, Jordan is expected to provide direction on company strategy, product development, marketing activities, equity, inclusion, belonging, and other key initiatives. The size of his equity stake is still not announced. He has been already indirectly involved in the US sports betting market, having invested in sports data specialist Sportradar in 2015. However, Jordan is not the first sports team owner to have a stake in DraftKings. Namely, there have been other people identified as having equity in DraftKings, including the NBA’s Jim Dolan (New York Knicks), and NFL’s Jerry Jones (Dallas Cowboys).

FanDuel sportsbook goes live in Illinois and signs deal with PGA TOUR

Another daily fantasy sports operator is also making new announcements across the US. It’s about FanDuel which has officially launched its sportsbook app in Illinois while signing a new gaming partnership with the PGA TOUR. Last week, FanDuel launched its sportsbook app called ‘FanDuel Par-A-Dice Sportsbook’ in Illinois, co-branded with the name of its Par-A-Dice casino partner is East Peoria.

At the same time, FanDuel has signed a multi-year content and marketing agreement with the PGA TOUR, with the aim to expand upon the increased betting on professional golf markets. By joining PGA’s official betting operator program, FanDuel will enjoy rights to use TOUR trademarks, advertise in official TOUR media platforms, and receive content and video rights to create pre-game and post-game betting programming. In addition, FanDuel will receive permission for the distribution of tour highlights to users who have placed bets.