Shares of DraftKings (NASDAQ:DKNG) rose 8% on Wednesday, following news that National Basketball Association Hall of Famer Michael Jordan had agreed to serve as a special advisor to the online sports-betting platform's board of directors.
So what
Michael Jordan is one of the biggest personalities in all of sports. The former NBA superstar is also a powerful force in the business of sports, with his billion-dollar partnership with Nike and controlling-ownership interest in the NBA's Charlotte Hornets. Jordan will use his extensive sports and business experience to advise DraftKings' board on strategy, product development, and marketing.