New York (CNN Business) Hall-of-Fame basketball legend Michael Jordan will be an investor and special adviser to the board of sports-betting company DraftKings, the company announced Wednesday. The deal sent shares of DraftKings roughly 6% higher in early trading. Jordan will take an undisclosed equity stake in exchange for "providing guidance and strategic advice," the company said in a statement. The Charlotte Hornets chairman and former Bulls player will also inform DraftKings' board on strategy, product development and inclusion initiatives. Jordan won six MVP awards and six championships during his playing career.

Source: CNN September 02, 2020 15:33 UTC