Michael Jordan Takes Up Equity Stakes In Draftkings

Michael Jordan wins again.

 Jordan is taking an equity stake in DraftKings in exchange for becoming a special adviser to the sports betting and fantasy sports company.

Jordan is expected to offer DraftKings his expertise on sports company strategy, product development, diversity, equity and belonging, marketing activities, and other key initiatives, according to the release.

“Michael Jordan is among the most important figures in sports and culture, who forever redefined the modern athlete and entrepreneur,” Jason Robins, CEO and co-founder of DraftKings, said in the release. “The strategic counsel and business acumen Michael brings to our board is invaluable, and I am excited to have him join our team.”

This isn’t Jordan’s first foray into the business of gambling. In 2015, he invested in betting data company SportRadar.

Jordan loves to gamble, just not on NBA games. During ESPN’s Last Dance documentary series, Jordan talked about his gambling vices.

“I never bet on games,” he said. “I only bet on myself, and that was golf. Do I like to play blackjack? Yeah, I like playing blackjack. There’s no laws with that. The league did call me and asked questions about it. And I told them exactly what was happening.”